Why You Can't Trust The Fed (In 1 Simple Chart)
Submitted by Tyler Durden on 12/31/2015 - 10:27
The Fed’s crystal ball is in serious need of a recalibration. Fed governors simply haven’t a flippin’ clue what to really expect from the economy. The gold market knows that. It knows that the U.S. economy is like an obese American who has taken up jogging to get into shape... only after the first lap around the track, it’s bent at the knees, huffing and puffing, and feeling like it’s gonna keel over.
China Builds Second Aircraft Carrier As Xi Flexes Maritime Muscle
Submitted by Tyler Durden on 12/31/2015 - 10:06
As tensions continue to rise in both the South China Sea (see the recent protest by dozens of Filipinos in the Spratlys) and the East China Sea (where Beijing and Tokyo are feuding over disputed islands and claims on oil and gas fields), the PLA has begun building China's second aircraft carrier in yet another sign that Xi fully intends to build a true blue water navy.
US Tumbles Into Manufacturing Recession With Abysmal Chicago PMI Report
Submitted by Tyler Durden on 12/31/2015 - 09:55
America has never - ever - avoided a recession when Chicago's Business Barometer has collapsed to these levels. At 42.9, missing the expectations of 50.0 by the most ever, down from 48.7 in November, the final US economic data point of the year sums up perfectly what a disaster Yellen has hiked rates into.
S&P 500 Opens In The Red For 2015 - Why 2058.90 Is The Most Important Number In The World
Submitted by Tyler Durden on 12/31/2015 - 09:34
The S&P 500 closed 2014 at 2058.90 and is currently trading below that level as the market opens. For the sake of faith in The Fed's "control" and trust in central planners ability to do "whatever it takes," it appears NYFed better "get back to work" soon to save the world.
The Uncomfortable Truth About The Great Boom And This "Recovery"
Submitted by Tyler Durden on 12/31/2015 - 08:53
Despite such endless financial engineering, sales for the S&P 500 have been declining for the last three quarters. And profits have declined for the first time since the 2009 expansion. Simply put: The recovery is a mirage... It isn’t real... And it isn’t sustainable.
Bah Humbug - Initial Jobless Claims Surge Most In 10 Months In Pre-Christmas Week
Submitted by Tyler Durden on 12/31/2015 - 08:36
Year-over-year, initial jobless claims are unchanged as the week-ending with Christmas Day saw a Scorrge-like 20,000 surge in initial claims. This is the largest weekly rise since February with 2015 ending with the highest initial claims print in 5 months.
Another Hedge Fund Shuts Down: SAB Capital Returns All Outside Money
Submitted by Tyler Durden on 12/31/2015 - 08:28
Yesterday, in keeping with what has become a daily tradition, we asked a simple question: "Which hedge fund will close today." It turns out that despite our intention, the question was not rhetorical because just a few hours later Bloomberg answered, when it reported that the latest hedge fund casualty was another iconic, long-term investor: Scott Bommer's SAB Capital, which as of a year ago managed $1.1 billion, and which is now returning all outside money.
"Some Folks Are Selling" - Stocks & Commodities Suddenly Slammed
Submitted by Tyler Durden on 12/31/2015 - 08:10
It appears the machines will have their work cut out today to keep the 'green for 2015' dream alive today as the last 30 minutes have seen selling accelerate across stock and commodity markets with bonds and the dollar bid.
Obama To Hit New "Friend" Iran With Fresh Sanctions Over Contested Ballistic-Missile Program
Submitted by Tyler Durden on 12/31/2015 - 07:53
On the heels of a “close call” in the Strait of Hormuz on Sunday, Washington is preparing new sanctions against a handful of companies and individuals tied to Tehran’s ballistic-missile program. "We've been looking for some time at options for additional actions related to Iran's ballistic missile program based on our continued concerns about its activities,” an unnamed US official says. Iran calls the new actions "illegal."
Frontrunning: December 31
Submitted by Tyler Durden on 12/31/2015 - 07:42- Oil ends 2015 in downbeat mood; hangover to be long, painful (Reuters)
- Recession, retrenchment, revolution? Impact of low crude prices on oil powers (Guardian)
- Midwest Flooding Might Make the Oil Glut Worse (BBG)
- From Oil Glut to Shortage? Some Say It Could Happen (WSJ)
- Ten Years After Blowup, Amaranth Investors Waiting to Get Money Back (WSJ)
- China Fires a Warning Shot at Yuan Speculators With Bank Bans (BBG)
Red Or Green For The Year: Decision Time For US Markets On Last Trading Day Of 2015
Submitted by Tyler Durden on 12/31/2015 - 07:05
It has come down to this: a year in which the US stock market (led by a handful of shares even as the vast majority of stocks has dropped) has gone nowhere, but took the longest and most volatile path to get there, is about to close either red or green for 2015 based on what happens in today's low-volume session following yesterday's unexpected last half hour of trading "air pocket" which brought the S&P back to unchanged for the year.
Something Just Broke In The U.S. Silver Market
Submitted by Tyler Durden on 12/30/2015 - 23:45
After looking over all the figures, it seems as if something broke in the U.S. Silver Market this year. By that, we mean the normal supply and demand forces no longer make sense.
Swiss Army Chief Warns Of Social Unrest, Calls Upon Citizens To Arm Themselves
Submitted by Tyler Durden on 12/30/2015 - 22:42
Swiss army chief André Blattmann warned, in a Swiss newspaper article on Sunday, the risks of social unrest in Europe are soaring. Recalling the experience of 1939/1945, Blattman fears the increasing aggression in public discourse is an explosively hazardous situation, and advises the Swiss people to arm themselves and warns that the basis for Swiss prosperity is "being called into question."
Guest Post: "American Capitalism" No Longer Serves Society
Submitted by Tyler Durden on 12/30/2015 - 22:25
America is being destroyed by problems that are unaddressed. Unbridled greed, short-term in nature, will continue to drive America into the ground.
The Next Time Your Financial Advisor Tells You To Buy Stocks, Show Them This Chart
Submitted by Tyler Durden on 12/30/2015 - 22:16
Perhaps mom and pop investors should show the following chart to their financial advisors, who directly or indirectly work for these institutions, and ask them: why should they be buying, when the counterparty they are buying from is, most likely, this very same financial advisor?
