“It’s absolutely possible we’ll see some draconian measures from the regulators,” a UBS strategist tells Bloomberg, referring to steps Beijing may have to take to curb China's equity mania. Meanwhile, in a new note, the bank says that "the challenge with almost all retail-driven liquidity rallies (like this one) is that they generally don't abide by the more fundamental rules we follow." It's all liquidity and "animal spirits" in China folks — look out below.
At HSBC — whose Swiss arm is the international gold standard for money laundering — Mexican drug cartels and terrorists were once welcomed, but porn site operators will apparently have to take their business elsewhere.
When we deny reality and engage in irrational wishful thinking, we are engaging in something called 'hopium': "The irrational belief that, despite all evidence to the contrary, things will turn out for the best." Right now that propaganda matrix is assuring the American people that everything is going to be just fine. Well, they better be right. Because if not, they are going to have millions of people extremely angry with them when things really start falling to pieces.
Entrepreneurs around the world are "drowning in this nothingness reality," and Saxobank CIO Steen Jakobsen sees a crisis correction as the only outcome of a zero environment in his opinion. "We have zero growth, zero inflation and zero hope," he explains based on his recent global travels meeting business leaders and key investors whose shared negative outlook was striking. The following brief clip concludes ominously, with Jakobsen noting that he "believes a Fed hike will act as a margin call on the global economy."
Why Sarao Is The Flash Crash Patsy: He Threatened To Expose The "Mass Manipulation Of High Frequency Nerds"Submitted by Tyler Durden on 04/23/2015 - 17:27
The CME contacted Sarao about his trades after concluding he appeared to be significantly swaying opening prices. Sarao explained some of his conduct to the CME in a March 2010 e-mail as “just showing a friend of mine what occurs on the bid side of the market almost 24 hours a day, by the high-frequency geeks.” And the reason why nobody touched Sarao until just days before the 5 years statute of limitations following the Flash Crash had run out, is the following: "He then questioned whether CME’s actions regarding his activity meant “the mass manipulation of high frequency nerds is going to end."
The answer was no.
The next time some financial pundit tells you to buy stocks, show them this chart. It’s an incredibly interesting take on not only how expensive stocks are right now, but also how the monetary system has left the average guy behind.
It appears as though Hillary Clinton may be witnessing her “Geithner moment,” because as Reuters reports, several Clinton family charities will now refile a half decade worth of returns after failing to report “tens of millions” in contributions from foreign governments.
"I've said it before, and I'll say it again: In a situation with the police, it's not immediately about who is right or wrong, it's about staying alive,” a former Alabama state trooper says, in an open letter to African Americans across the country.
Following the FCC joining the DoJ in the government's blowback against the merger, Bloomberg reports:
- *COMCAST SAID TO PLAN ANNOUNCEMENT AS SOON AS FRIDAY
- *COMCAST SAID TO PLAN FINAL DECISION ON TIME WARNER TODAY
Comcast stock initially jumped and Time-Warner tumbled... but both are now higher!
The reality is, like dominoes, that once one of these issues becomes a problem, the rest become a problem as well. Central Banks have had the ability to deal with one-off events up to this point by directing monetary policy tools to bail out Greece, boost stock prices to boost confidence or suppress interest rates to support growth. However, it is the contagion of issues that renders such tools ineffective in staving off the tide of the next financial crisis. One thing is for sure, this time is "different than the last" in terms of the catalyst that sparks the next great mean reverting event, but the outcome will be the same as it always has been.
There is mounting evidence that oil prices are poised to rebound from a historic bust. But what if the bust is not over yet? Despite the signs of a rebound, ExxonMobil’s CEO Rex Tillerson has a much more bearish take on oil prices. Speaking at the IHS CeraWeek conference in Houston, Tillerson predicted that oil prices would remain subdued for the next several years.