• Marc To Market
    01/24/2015 - 10:27
    I have told you the US dollar was going up for months.  Some mocked me.  Others insulted me.  So what?  I tell you the dollar's bull market remains intact.  

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When This Ends, Everybody Gets Hurt (And The End Is Uncomfortably Close)

It’s already ‘later’. We're living through the period of time when that dawning recognition of limits will finally burst over the horizon, shining a very bright spotlight on a frightening number of our global society's unsustainable practices. The most urgent of them all, as far as everyone reading this is concerned, is the very uncomfortable fact that it is our system of money that is most likely to break first and hardest because its very design demands endless growth, without which collapse ensues. Central bank credibility (as fictitious as that may be) is essential to maintaining the current narrative, BUT central banks are rapidly losing their credibility (which should have happened simply via deductive reasoning a long time ago) and the strains are showing. When credibility in central bank omnipotence snaps, buckle up. Risk will get re-priced, markets will fall apart, losses will mount, and politicians will seek someone (anyone, dear God, but them) to blame.



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Obama Issues Statement On The Death Of Saudi King Abdullah, Praises "Vision", US-Saudi Relationship

"King Abdullah’s life spanned from before the birth of modern Saudi Arabia through its emergence as a critical force within the global economy and a leader among Arab and Islamic nations.  He took bold steps in advancing the Arab Peace Initiative, an endeavor that will outlive him as an enduring contribution to the search for peace in the region.  At home, King Abdullah's vision was dedicated to the education of his people and to greater engagement with the world."



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Meanwhile, Somewhere In America

Presenting: The "Crisis has Passed" Recovery...



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Artist's Impression Of How American Policymakers Think

...and rinse and repeat...



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The Truth About The Monetary Stimulus Illusion

Since its inception in 2008, easy monetary policy has created very few positive effects for the real economy — and has created considerable (and in some cases unforeseen) negative effects as well. The BIS warns of financial bubbles. While economic policymakers should take a closer look at Japan, China, and yes, the United States, when debating the limits of monetary stimulus and the dangerous nature of financial bubbles; sadly, the discussion is happening too late to be anything more than an intellectual exercise.



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Saudi King Abdullah Has Died; Crude Prices Jump

After first falling ill  and being hospitalized in December, Saudi Arabia officials have announced:

*SAUDI ARABIAN KING ABDULLAH DIES, CROWN PRINCE SALMAN SUCCEEDS: STATE TV

As we noted previously when considering this possibility, "a new King can do (almost) anything he wants, including changing oil policy." 79-year-old Crown Prince Salman has been named succesor (and has his own health issues - reportedly suffering from Dementia). Oil prices popped around 80c on the news.



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"If You Question Authority, You Are Mentally Ill", Report Finds

The psychopathologizing of anti-authoritarian behavior is yet another step on what looks like an increasingly slippery slope and it strikes us as especially harmful. The American Diagnostic and Statistical Manual of Mental Disorders (DSM for short) defined a new mental illness, the so-called “oppositional defiant disorder” or ODD. As TheMindUnleashed.org informs us, the definition of this new mental illness essentially amounts to declaring any non-conformity and questioning of authority as a form of insanity. In short, as Natural News put it: According to US psychiatrists, only the sheeple are sane.



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What Mario Draghi Said When Asked If His QE Will Unleash Hyperinflation

Question: what would you say to those who are concerned that when the ECB buying up bonds, electronically printing money, whatever one calls it, is the first chapter in a story that leads inevitably towards hyperinflation. What is your response to that?

Answer: I think the best way to answer to this is have we seen lots of inflation since the QE program started? Have we seen that? And now it's quite a few years that we started. You know, our experience since we have these press conferences goes back to a little more than three years. In these 3 years we've lowered interest rates, I don't know how many times, 4 or 5 times, 6 times maybe. And each times someone was saying, this is going to be terrible expansionary, there will be inflation. We did OMP. We did the LTROs. We did TLTROs. And somehow this runaway inflation hasn't come yet.



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17,600 Laid-Off Canadian Target Workers Stunned At Ex-CEO's "Walk-Away" Package

Earlier this month, Target announced it would close all of its 133 stores in Canada, laying off the 17,600 employees north of the border. As CBC reports, Target's "employee trust" package for its Canadian workers, announced last week, amounts to around $56 million, providing each worker with 16 weeks of pay. But - what is perhaps more stunning is that, depending on who’s doing the calculation, the golden handshake "walk-away" package handed to ex-CEO Gregg Steinhafel last May is in roughly the same ballpark at around $61 million, including severance of $15.9 million. It appears underperforming is the new killing it...



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Deflation Is A Problem For The Fed

More than six years after the last recession, deflation remains an imminent threat. The continued hope is that the next round of interventions will be the one that finally sparks the inflationary pressures needed to jump start the engine of economic recovery. Unfortunately, that has yet to be the case, and the rate of diminishing returns from each program continue to increase. The collapse in commodity prices, interest rates and the surge in dollar are all clear signs that money is seeking "safety" over "risk." Maybe you should be asking yourself what it is that they know that you don't? The answer could be extremely important.



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""Whatever It Takes" Or "Make It Stop""

"Whatever it takes" appears to have 'worked' to crash the currency of the Eurozone... but - unlike the Keynesian 'exports-are-awesome' textbook plan of competitive currency devaluationists (just ask Japan) - economic growth expectations continue to collapse... Perhaps it's time to say "make it stop" before all central bank credibility is entirely destroyed...



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"Government Is Waging A Perpetual War Against Human Nature... They Can Never Win"

Government has NEVER accepted the economy or free markets. They assume they have the ability and the right to manipulate society. They have failed each and every time. They cannot just recognize the natural order of things driven by human nature (character). They constantly work against the business cycle and attempt to change what cannot be changed. Therein, they are engaging in a perpetual war they can never win.



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Smuggling Drugs Across The Mexican Border? There's A Drone For That

Worried about the honesty of your drug mule? Concerned that your smugglers will demand higher and higher minimum wage? There's a drone for that. Once again technology has enabled 'progress' as AP reports police in a Mexican border city said Wednesday that a drone overloaded with illicit methamphetamine crashed into a supermarket parking lot. As AVWeb notes, drones carrying illegal drugs and contraband have been among the creative ideas used by smugglers, and crashes do happen from loss of control or perhaps weight-and-balance problems. Brings a whole new meaning to 'Breaking Bad'.



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Here Is The Driver Behind The European Stock Surge (Hint: Not Earnings)

What is going on in Europe? Nothing short of the biggest multiple expansion episode in history. As SocGen calculated two days ago "the reported P/E multiple on Eurozone equities has risen from 11.5x to 18.7x today – a multiple expansion of over 60% in 30 months – and now stands at a premium to both the rest of Europe and RoW."  And now, with today's latest surge in the Eurostoxx, the multiple has hit what may well be a record 19x, pushing the expansion well into the 60% range over the past two and a half years, making Europe the most expensive market on a PE-multiple basis in the entire world.



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