• Steve H. Hanke
    02/11/2016 - 16:08
    The burgeoning literature contains a great deal of hype, which validates the 95% Rule: 95% of what is written about economics and finance is either wrong or irrelevant.

Tyler Durden's picture

Forget Zika, This Is America's Real Threat

Debt - the other 4-letter word...


Tyler Durden's picture

Turkey, Saudi Arabia Mull Syria Ground Invasion As Russia, Hezbollah Decimate Rebels

"Our whole existence is now threatened, not just losing more ground. They are advancing and we are pulling back because in the face of such heavy aerial bombing [by Russia] we must minimize our losses."


Tyler Durden's picture

After 1,428 Years, Here's What Brought Down The World's Oldest Business

Shigemitsu Kongo formed his construction company Kongo Gumi in 578 AD. This company lasted over 1,400 years. They survived countless political crises, wars, and natural disasters. They survived the Meiji Restoration in the 1800s, a period in which the government set out to eradicate Buddhism from Japan, and hence, the temple building industry. They even survived two atomic bombs. What Kongo Gumi couldn’t survive was debt.


Tyler Durden's picture

France Just Enshrined Its "State Of Emergency" In The Constitution

While we wait for a full blown European version of the Patriot Act, it seems France has rushed to judgment and enshrined the nation's restrictive "it's for your own good" State of Emergency into its Constitution. Yet again - temporary government over-reach becomes permanent as the spread of tyranny is begged for by the citizenry seeking protection from the boogeyman du jour.


Tyler Durden's picture

Fed Lacks The Physical Cash, Legal Authority And Computer Systems To Implement NIRP, According To The Fed

"... at sufficiently negative IOER rates, DIs might opt to shift a significant quantity of their reserve balances into currency. Present Federal Reserve inventories of currency, at about $200 billion, would not be adequate to cover large-scale conversion of the nearly $1 trillion in reserve balances to banknotes."


Tyler Durden's picture

Gundlach: Bonds Won't Bottom Until Panic Sends VIX Above 40

More troubling for the bulls who are unable to get the much needed close of trading panic flush as a result of daily last hour levitations is Gundlach's call that the VIX needs to surge above 40 before a bottom can be made in the high-yield junk bond market. Today the VIX closed up 11% to 26.00, a long way off from the panic and revulsion that would send it north of 40. Indeed, the last time the VIX rose above that level was on August 24, when the VIX calculation actually was broken for a brief period of time to avoid crushing countless VIX-linked investors.


Tyler Durden's picture

Monday Humor: A Preview Of The Bernie Sanders Presidency

Pres(ident)ed with no comment.


Tyler Durden's picture

The Bubble Deflates – And Crash Risk Rises

We already suspected in mid 2013 (worrying about the market far too early as it has turned out in hindsight) that there were parallels to what happened in the late 1990s bull market, specifically near its end in the year 2000. However, in the meantime, even more such parallels have become noticeable.


Tyler Durden's picture

"We Can Put Refugees On Buses": Leaked Memo Shows Erdogan Blackmailed Europe For Billions

Turkish President Recep Tayyip Erdogan's bullying isn’t confined to his domestic political agenda. Greek media has obtained an internal memo which suggests the Turkish strongman effectively blackmailed the EU by demanding cash payments in exchange for efforts to curb the flow of migrants into Western Europe "So how will you deal with the refugees if you don't get a deal? Kill them?"


Tyler Durden's picture

Credit Better Be Wrong This Time

Who do you trust?


Tyler Durden's picture

Either Banks Are Cheap... Or The Market's Gonna Crash

Simply put, either large cap Financials are cheap, or the entire U.S. equity market is still overpriced. Their precipitous decline year to date means markets fear they are both the transmission mechanism for a global slowdown/recession to come and a primary victim of that event.


Tyler Durden's picture

The Increasingly Fragile Upper-Middle Class

The upper-middle class that's supported the "recovery" with massive discretionary spending is far more vulnerable to implosion/insolvency than is generally appreciated.


Tyler Durden's picture

"Timmy" Geithner Gets Loan From Jamie Dimon For PE Investment

“You are in a position to make 20 percent to 30 percent on your position in the fund. Why wouldn’t you buy in at Libor-plus to leverage that up?”


Do NOT follow this link or you will be banned from the site!