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Why The 'Sultan Of Chaos' Is Freaking Out

The only leverage the ‘Sultan’ may enjoy at the moment. From Brussels to Berlin, sound minds are terrified that the EU is now actually hostage to Erdogan’s Kurd “priority”, while Ankara is doing next to nothing to fight massive migrant smuggling. And that explains German Chancellor Angela Merkel’s own desperation. How could the alleged most powerful politician in Europe falls for such a crude extortion racket? The ‘Sultan’ wants a lot of cash, a lot of concessions, and even a further shot at entering the EU. Otherwise, he won’t turn off the tap on the grim refugee flood. No wonder the regime change rumor mill is frantic. In Ankara? No; in Berlin.


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Catch Up On The Latest Chinese News With These Seven Bullets

With China offline for the next 7 days as its celebrates its Lunar New Year, here are 7 bullets from Evercore ISI to get everyone up to speed on the latest developments in the world's most troubled growth economy.


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Steve Keen Exposes Our Dysfunctional Monetary System

We are hostage to a dysfunctional monetary system, run by people who don’t understand how it works in the first place. No wonder the global economy is in the doldrums, and finance markets are having dyspeptic attacks.


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Venezuela Prepares To Liquidate Its Remaining Gold Holdings To Pay Coming Debt Maturities

Venezuela's central bank has begun negotiations with the suddenly troubled Deutsche Bank to carry out gold swaps "to improve the liquidity of its foreign reserves as it faces heavy debt payments this year", payments which it won't be able to fund unless it manages to "liquify" its gold. "One of the sources said the central bank has taken an unspecified amount of gold out of the country so that it can be certified, which is required for gold that is used in such swaps."


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Dot Com 2.0 – The Sequel Unfolds

Like a phoenix rising from the ashes of the post Dot-Com ruins people were told not only was it “different this time,” they were also instructed to observe even the phoenix bird itself had morphed into what is now commonly referred to as a “Unicorn.” And any comparisons to the prior meltdown in the land of Dot-Com were met with howls and scowls of, “You just don’t get it!” or worse. The real issue was, it had nothing to do with “getting it.” It’s all been about Silicon Valley itself acting and arguing as if the past were irrelevant. Now many are coming to a very stark realization that the Valley may in fact once again have repeated all the same mistakes.


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Even The Fed's "Owners" Aren't Buying What Janet Is Selling

Despite a collapse in yields and implicit plunge in the odds of a rate-hike anytime soon, asset-gathering, commission-taking talking-heads continue to spew unrealities about the economy and where it goes next as excuse after excuse (low oil is good, services trump manufacturing etc) are discarded. What is worse is that none other than The Fed's "owners" - the primary dealers - refuse to play along with The Fed's transitory narrative as their Treasury Bond position is the longest since 2013.


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"Few Are Yet Willing To Admit The Harsh Reality..."

A multi-decade Credit Bubble is coming to an end. The past seven years has amounted to an incredible blow-off top and the ongoing worldwide collapse in financial stocks provides powerful support for the bursting global Bubble thesis. Few are yet willing to accept the harsh reality that the world has sunk back into crisis as mal-investment, over-investment and associated wealth destruction remain largely concealed so long as financial asset inflation persists. This is true as well for wealth redistribution. The unfolding adjustment process will deflate asset prices so as to converge more closely with deteriorating underlying economic fundamentals.


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Mainstream Media Guide To Obama's Economic "Recovery"

"Any minute now..."


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Google Or Apple, FactSet Asks "Who's Bigger"?

On the first day of this month, Google.. er, Alphabet.. turned in an impressive quarter. The stock jumped AH and just like that, Alphabet was the world’s most valuable stock, surpassing Apple. Since Monday, Apple regained the top spot in terms of market cap, but given the fanfare, it's worth taking a look at how the two most valuable companies in the world stack up to the rest of the field on a variety of "trivial" things like revenue and net income.


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Super Bowl 50 - What Has Changed In The US Since 1967

America has changed a lot since Super Bowl 1 in 1967 but, as the cost of tickets, airfare, commercials, and beer have soared, real median incomes have risen just 9%... is it any wonder the 'people' are revolting.. towards Bernie and The Donald? However, the economics of Super Bowl 50 are every bit as cloudy as the general American economy... which looks set to be re-named "The Unicorn Bowl."


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The Number Everyone's Been Waiting For: Chinese Reserves Plunge By $100BN - What Does It Mean For Markets?

As it stands now what is really happening with the biggest risk factor to commodity, credit and capital markets, remains a mystery, and instead of getting some much needed clarity from China's January reserve number, the world's traders and investors will now have to wait for the February reserve update one month from now to learn if China has managed to slay its capital outflow demons, or if these were just getting started.


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Another Exponential Chart: Record Numbers Renounce Their U.S. Citizenship In 2015

Few charts do the topic of US citizenship renunciation justice, like the one shown below.


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Dear Barack... You Forgot To Mention A Few Things

While 'our' President was out this week patting himself on the back and taking victory laps over the "supposed" 4.9% unemployment rate, he forgot to mention a few important tidbits about what is really going on.


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2016 EPS Growth Estimates Slashed By 50% Just One Month Into The Year

We open it up to readers to determine in how many weeks will full year 2016 EPS be revised tom 4.3% as of the start of the year, to 2.2% currently, to negative, indicating at least 7 consecutive quarters of declining EPS, something not recorded even during the peak of the financial crisis. Incidentally, an earnings recession is two consecutive negative quarters of EPS: we don't know what the technical term is for seven...


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