• GoldCore
    08/04/2015 - 06:08
    The headlines are dramatic, ugly and depressing to anyone who holds gold right now. Broad market sentiment has shifted from disdain and dismissive to highly negative. Hedge funds are shorting gold...

Tyler Durden's picture

Rent Bubble = Housing Bubble = Rent Bubble

Both bubbles (rents and housing) are vulnerable to popping. The real test of valuation is: what's it worth in a recession, after all the easy money and the jobs that depended on easy money have vanished?



Tyler Durden's picture

AAPL Stock Tests Key Technical Level For First Time Since 2013

But, but, but the iWatch and Apple TV is coming soon!!



Tyler Durden's picture

Here Is The Reason Why GM's July Car Sales Smashed Expectations

"Fleet deliveries in July were down 20 percent year over year, as the company continues to execute its plan to reduce sales to rental customers and grow commercial and government deliveries. Government sales were up 38 percent, with deliveries to state and local governments up 59 percent."



Tyler Durden's picture

LIBOR Scapegoat Found Guilty, Sentenced To 14 Years

Update: JUDGE SENTENCES HAYES TO 14 YEARS IN JAIL FOR LIBOR CRIME 

Former UBS Group AG and Citigroup Inc. trader Tom Hayes, the first person to stand trial for manipulating Libor, was found guilty of eight counts of conspiracy to rig the benchmark rate.



Tyler Durden's picture

"Seasonally Data Dependent": Adjusted New Orders Highest In 2015; Unadjusted Lowest Since 2013

A more than cursory look at the ascendent ISM New Orders data reveals something quite unpositive: the only reason they New Orders print came where it did, is due to seasonal adjustments.



Tyler Durden's picture

Construction Spending Growth Slumps To 2015 Lows

A dramatic upward revision from 0.8% MoM to 1.8% MoM (after March's biggest jump since 1998), may be a small silver lining in the rear view mirror as construction spending growth tumbled to just 0.1% in May - the weakest since Nov 2014. It seems the climactic malinvestment boom in the last 3 months is faltering fast and is entirely unsustainable.



Tyler Durden's picture

"Everyday Americans" Hillary And Bill Clinton Report $140 Million In Taxable Income Since 2007

Here is the Clinton family's adjused gross income since 2007. The summary: $139.1 million in income since 2007, most of it thanks to speeches starting at $225,000 and going much higher. And that is your "everyday Americans."



Tyler Durden's picture

Obama Authorizes "Defensive" Airstrikes Against Assad Regime In Syria

"President Barack Obama has authorized using air power to defend a new U.S.-backed fighting force in Syria if it is attacked by Syrian government forces or other groups, raising the risk of the American military coming into direct conflict with the regime of President Bashar al-Assad," WSJ reports.



Tyler Durden's picture

ISM Manufacturing Slumps To 3-Month Lows Led By Plunge In Employment

It appears ISM Manufacturing data has been 'leaked' early and is reportedly printing 52.7 in July, down from 53.5 prior and missing expectations. This is the weakest print since March as the Q2 bounce is now officially dead. Both imports (lowest since Jan 2013) and new export orders (lowest in 3 years) declined as employment tumbled. In fact every subcomponent fell aside from new orders, production, and supplier deliveries with order backlogs at their lowest since Nov 2012.



Tyler Durden's picture

Another One Bites The Coal Dust - Alpha Natural Files For Bankruptcy

Amid the collapse in coal prices, not helped by the 'China situation' and President Obama's nudge, WSJ reports that the ailing US coal just got another black eye as Alpha Natural Resources is expected to file for chapter 11 bankruptcy protection early Monday to cut its more than $3 billion debt load. After four straight annual losses, Alpha - one of America's largest coal producers - has secured $692mm in DIP financing as it prepares its restructuring plan expected to sell some of the best mines and shutter others. It appears the Arch Coal's CEO's ominous words last week were prophetic - “Coal markets are as difficult as I’ve seen them during my 30 years in the industry."



Tyler Durden's picture

WTI Crude Crashes To $45 Handle - Lowest Since March

Spending and Income data appears to have been the trigger sending WTI and Brent crude prices dramatically lower. WTI has now broken to a $45 handle, its lowest since mid-March..



Tyler Durden's picture

Real Personal Spending Growth Weakest Since Feb, Savings Rate Rises

The good news, personal income rose a better than expected 0.4% MoM (flat to the previous month's revised lower growth). The 'meh' news, personal spending rose just 0.2% - meeting expectations - but slowing its growth dramatically from the 0.7% revised May data. And the bad news, real personal spending was unchanged in June, its weakest growth (or lack of it) since February. This means the savings rate rose from 4.6% in May to 4.8% in June - its second lowest in 2015 (but increasing just as The Fed hopes for excape velocity consumption confirmed by their rate hikes in a circular logic fallacy).



Tyler Durden's picture

With The S&P 2% From All Time Highs, Wall Street Bearishness Is More Extreme Than March 2009

One would think contrived confidence would lead to more confidence, and manipulated market record highs would lead in abundant euphoria and market bullishness, a traditional reflexive feedback loop used and abused by central banks the world over over the past century. One would be wrong.



Tyler Durden's picture

Hilsenrath: Fed Doesn't "Demand" Wage Growth Before Rate Hike

If last week's shocking crash in the Employment Cost Index (ECI) to the smallest increase on record, was enough for some to seal the deal that the Fed will not hike rates for the balance of 2015 (and perhaps ever), here comes the Fed's unofficial mouthpiece, WSJ's Jon "Stingy Consumers" Hilsenrath, to debunk any such speculation with a note which likely came straight from the Fed titled the "Fed Doesn’t Demand Wage Growth Before Increasing Interest Rate."



Tyler Durden's picture

Greek Stocks, Economy Collapse, Suffer Worst Declines In History

The Athens Stock Exchange reopened on Monday after a five-week hiatus. Stocks fell nearly 23% out of the gate with the country's insolvent banks trading limit-down. Meanwhile, Markit confirmed that the Greek economy has for all intents and purposes collapsed, with Greece's manufacturing PMI printing at 30.2. New orders plunged to just 17.9, betraying a contraction of unprecedented depth.



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