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This Is What Central Bank Failure Looks Like

From omnipotence to impotence... Peter Pan(ic) is here...


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Abenomics Fails Miserably As Japan's Workers "Get Nothing" In 2015

Abenomics has failed. That's just all there is to it. We'll now sit back and wait for the day when Abe and Kuroda finally take a long bow and fall (figuratively speaking we hope) on their swords.  


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Ron Paul Slams Government Plan For "Mandatory Depresssion Screening" Of All Americans

The United States Preventive Services Task Force recently recommended mandatory depression screening for all Americans.  Government health care mandates undermine the basic principles of a free society. If it is legitimate for government to tell us what types of health care we must receive, then it is also legitimate for the government to tell us what to eat, when to exercise, and even how to raise our children. To paraphrase C.S. Lewis, a tyranny imposed for our own good is the worst form of tyranny because it is a tyranny without limits.


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Another Data Point To Ignore: Dividend Cuts Have Surpassed 2008

Being "paid to wait" in high-yielding stocks last year was a death by 394 cuts. As Bloomberg reports, the number of dividend reductions far surpassed 2008, almost 100 more than at the outset of the Great Recession - a time when the implosion of Lehman caused equity markets to plummet in the later stages of the third quarter.


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After The European Bank Bloodbath, Is Canada Next?

Here is the one chart showing why the time to panic about Canadian banks may have finally arrived...


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Forget Zika, This Is America's Real Threat

Debt - the other 4-letter word...


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Turkey, Saudi Arabia Mull Syria Ground Invasion As Russia, Hezbollah Decimate Rebels

"Our whole existence is now threatened, not just losing more ground. They are advancing and we are pulling back because in the face of such heavy aerial bombing [by Russia] we must minimize our losses."


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After 1,428 Years, Here's What Brought Down The World's Oldest Business

Shigemitsu Kongo formed his construction company Kongo Gumi in 578 AD. This company lasted over 1,400 years. They survived countless political crises, wars, and natural disasters. They survived the Meiji Restoration in the 1800s, a period in which the government set out to eradicate Buddhism from Japan, and hence, the temple building industry. They even survived two atomic bombs. What Kongo Gumi couldn’t survive was debt.


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France Just Enshrined Its "State Of Emergency" In The Constitution

While we wait for a full blown European version of the Patriot Act, it seems France has rushed to judgment and enshrined the nation's restrictive "it's for your own good" State of Emergency into its Constitution. Yet again - temporary government over-reach becomes permanent as the spread of tyranny is begged for by the citizenry seeking protection from the boogeyman du jour.


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Fed Lacks The Physical Cash, Legal Authority And Computer Systems To Implement NIRP, According To The Fed

"... at sufficiently negative IOER rates, DIs might opt to shift a significant quantity of their reserve balances into currency. Present Federal Reserve inventories of currency, at about $200 billion, would not be adequate to cover large-scale conversion of the nearly $1 trillion in reserve balances to banknotes."


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Gundlach: Bonds Won't Bottom Until Panic Sends VIX Above 40

More troubling for the bulls who are unable to get the much needed close of trading panic flush as a result of daily last hour levitations is Gundlach's call that the VIX needs to surge above 40 before a bottom can be made in the high-yield junk bond market. Today the VIX closed up 11% to 26.00, a long way off from the panic and revulsion that would send it north of 40. Indeed, the last time the VIX rose above that level was on August 24, when the VIX calculation actually was broken for a brief period of time to avoid crushing countless VIX-linked investors.


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Monday Humor: A Preview Of The Bernie Sanders Presidency

Pres(ident)ed with no comment.


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The Bubble Deflates – And Crash Risk Rises

We already suspected in mid 2013 (worrying about the market far too early as it has turned out in hindsight) that there were parallels to what happened in the late 1990s bull market, specifically near its end in the year 2000. However, in the meantime, even more such parallels have become noticeable.


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"We Can Put Refugees On Buses": Leaked Memo Shows Erdogan Blackmailed Europe For Billions

Turkish President Recep Tayyip Erdogan's bullying isn’t confined to his domestic political agenda. Greek media has obtained an internal memo which suggests the Turkish strongman effectively blackmailed the EU by demanding cash payments in exchange for efforts to curb the flow of migrants into Western Europe "So how will you deal with the refugees if you don't get a deal? Kill them?"


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