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Amoeba, Fish, Lizard, Ape, Human, Investor... Meet Evolutionary Economics

We’re always interested in alternative economic frameworks that can help address the sizable gaps left open by classical approaches. Behavioral economics can fill part of that void, of course, as it describes some basic shortfalls in the assumption that we’re all superhuman welfare maximizing individuals. One step beyond that is evolutionary economics, which borrows from biology rather than psychology to form models about economic behavior.



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Is Turkey On The Path To Restoring The Ottoman Empire?

"Turkey's interest in northern Syria and northern Iraq is not an abstraction triggered by a group of religious fanatics calling themselves the Islamic State; it is the bypass, intersection and reinforcement of multiple geopolitical wavelengths creating an invisible force behind Ankara to re-extend Turkey's formal and informal boundaries beyond Anatolia."



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From Grexit To Brexit?

“It is absolutely ludicrous that when only 10% of the entire UK GDP is exports to the EU that the other 90% of our businesses are tied up with European rules – and I think people are starting to understand that.”



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Crude Tumbles Near $46 Handle As US Oil Rig Count Rises For 2nd Week

After last week's surge in total rig count, this week saw a modest 2 rig drop to 874 total rigs. However, oil rigs rose once again - up 5 to 664 rigs. This is the highest since May 8th. The last 5 weeks have seen a 36 rig rise - the biggest such rise since April 2014. WTI Crude prices are reacting negatively to this news.



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The World's Second Biggest Stock Is Crushing A 28-Year Trendline

Since the lows after the October 1987 crash, XOM has 'trended' positively for 28 years... finding support at a critical trendline four times over that period... until now. While internals of the market are weak, the fact that the world's second largest stock has broken an historic trendline is notably concerning and confirmed by what will be the 3rd monthly close below the level today...



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The Fed's Bathtub Economics Brigade Blathers On, Part 1

Our monetary politburo is driving the US economy in the wrong direction. That is, toward dis-employment of its true, wealth-creating economic resources - human labor, entrepreneurial talent and market driven gains in economic factor efficiency. Contrary to this week’s self-congratulatory statement, all is not well and its not getting weller.



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The Swiss National Bank Is Long $94 Billion In Stocks, Reports Record Loss Equal To 7% Of Swiss GDP

Earlier today, the SNB which is perhaps the most transparent hedge fund of all central banks and actually lays out its financial statements in a respectable manner every quarter, released its results for the second quarter (and first half) of 2015. The result: another absolutely epic loss, amounting to €50.1 billion ($51.8 billion) of which €47.2 billion on currency positions - a whopping 7% of Swiss GDP - meaning that in Q2 the SNB lost another €20 billion. This happened despite the SNB having invested 17%, or $94 billion, in foreign - mostly US -stocks.



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Bad Data... Buy It All

FOMC inflation fears... Weak GDP... Piss-poor wage growth... buy it all



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The Cost of Stagnation: We're Living In Limbo

This erosion of opportunities to complete life's stages and core dramas is rarely recognized, much less addressed. The End of Secure Work and the diminishing returns of financialization are disrupting these core human challenges and frustrating those who are unable to proceed to the next stage of life...



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This Is What A Total Breakdown In Market Internals Looks Like

Below-the-surface breakdowns strengthen BCA Research's conviction that investors should stay defensive. Technically, the S&P 500 looks weak. Breadth has thinned considerably this year. Less than 50% of S&P 500 industry groups are trading above their 40-week moving average and/or have a positive 52-week rate of change.



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LinkedOut - Social Media Superstar Enters Bear Market Overnight

Well that escalated quickly...



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VIX Crushed Back To 11 Handle As "Investors" Seek Safety Of Biotechs

Because nothing says "sell vol with both hands and feet" and buy Biotechs like a collapse in the wage growth meme and consumer sentiment...



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The 2015 Untrustworthies Report - Why Social Security Could Be Bankrupt In 12 Years

The so-called “trustees” of the social security system issued their annual report last week and the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year - until 2034. So take a breath and kick the can. That’s five Presidential elections away!

...Except that is not what the report really says.



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