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Why Trump Thinks Unemployment Is 42%

"If we had 5% unemployment, do you think we'd have these gatherings?"


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"It's Probably Something" - Gold Surges Above $1200; USDJPY, Oil, Stocks Plunge

Hong Kong traders are back from vacation, and with few options on the table, they are buying the one asset that provides the best cover to central banks losing faith, demonstrated most vividly by the total failure of the BOJ, and as a result just as Yen soars above 113, gold has taken out the numerous $1,200 stops and is currently surging to levels not seen in almost a year.


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Good News: Hookers Aren't Planning To Hike Rates

"This is a very price elastic market. The only reason price hikes held last year was that all escorts raised their prices; customers had little choice. But it’s also a testimony to income growth: customers had the available disposable income."


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"Fasten Your Seatbelts": Kyle Bass Previews The Collapse Of China's $34 Trillion Banking Sector

"We believe the epicenter of the problem is the Chinese banking system and its coming losses. Once analysts, politicians, and investors alike realize the sheer size of the impending losses and how they compare to the current levels of reserves, all focus will swing to the banking system."


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"Negative Rates Are Dangerous" OECD Chair Warns "Our Entire System Is Unstable"

"There is excessive debt everywhere and negative interest rates are dangerous... My number one fear? That’s the same as asking me where it will start. When you view the economy as a complex, adaptive system, like many other systems, one of the clear findings from the literature is that the trigger doesn’t matter; it’s the system that’s unstable. And I think our system is unstable... Central Bank models are just wrong"


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Thousands Of Americans "Demand" Obama Be Convicted Of War Crimes

"One of the most dreadful prisons in history – Guantanamo - continues to function. Libya was destroyed as a result of Obama’s aggression. In Syria, Obama’s agents train, fund and organize terrorist groups, deceitfully naming them 'moderate opposition', who, among other things, bear a relation to Al-Qaeda, implicated in crimes against the American people."


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The Physics Of Energy & The Economy

When the economy collapses, it will collapse down to a lower sustainable level. Much of the world’s infrastructure was built when oil could be extracted for $20 per barrel. That time is long gone. So, it looks like the world will need to collapse back to a level before fossil fuels - perhaps much before fossil fuels.


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Agency Bond Rigging Probe Expands As Europe Grills Banks On SSA Debt

EU regulators have joined their counterparts in the US and Britain in probing the SSA market where banks may have colluded on price quotes. The big question is whether Deutsche Bank, which is struggling to reassure a nervous market, will find itself in the European Commission's crosshairs.


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Top US Official Admits Government Will Use "Internet Of Things" To Spy On The Public

You can’t say you weren’t warned. The writing on the wall that “smart devices” would prove to be manna from heaven for spy agencies and hackers around the world has been obvious for a very long time. And now, from none other than James Clapper, we get confirmation...


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Twitter Unveils In-House "Ministry Of Truth"

The Ministry of Truth in George Orwell's dystopian novel, 1984, is one of the most important agencies of the government, for an uninformed or misinformed populace can be confused, deceived, and directed easily by controlling powers. So, in order for users to feel confident expressing themselves "freely and safely," Twitter is debuting a new advisory group dubbed the "Trust & Safety Council." But a quick glance at its membership roster suggests the council is almost as Orwellian as it sounds - and overwhelmingly biased in favor of speech suppression.


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Bill Ackman Is Down 18.6% After First 5 Weeks Of 2016; Down 41% From August 2015

Courtesy mostly of Martin Shkreli, 2015 was a horrible year for Bill Ackman and yet, despite being down -20.5% last year (after being up 11% in early August when his NAV peaked at 29.27), his LPs largely stuck with the white-haired hedge funder. In retrospect they surely regret that because according to the latest update by Pershing Square's website, as of February 9, just 5 weeks into the new year, Bill Ackman is already 18.6% in the hole at a NAV of17.07%, and down over 40% since the fund's recent peak in the last summer.


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Traders Are Throwing Up All Over This Market: "It Feels Like The Algos Are Hooked Up To Tinder"

"No one is trading unless they have to or have microwave circuits for brains.... the system’s foundation rests on a presumption of their expertise. It’s what allows the leaps of faith necessary for financial transmission functions to work. Grand experiments, like the insanity of negative rates, are seen merely as the latest in making it up as you go along."


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Something Unexpected Happened When A Distressed Credit Fund Tried To Liquidate

In May 2015, Warwick's European Distressed & Special Situations Credit Fund liquidated after investors submitted redemption requests amounting to 90% of the fund’s assets. But something unexpected happened" "the problem" as HFA writes, is that "the fund’s remaining assets — encompassing debt and equity positions in Fitness First, New Gulf Resources, Oasis Holdings and Punch Taverns — are too illiquid to be sold."


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Tesla Releases Steaming Pile Of Epic "Non-GAAP" Gobbledygook; Stops Reporting Free Cash Flow; Stock Soars

Perhaps the only company's results we have more fun spreading that Netflix, is Tesla's for the simple reason that the company has managed to convert GAAP reality into a singularity of such non-GAAP bullshit, which is no longer merely laughable but is solidly inside the ridiculous, if not criminal (of course, nobody cares as long as the stock keeps rising but the second it plunges, watch those lawsuits soar), that none other company can even come close.


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