Archive - Oct 15, 2014

• M&A Bubble is bursting: AbbVie Says It Reconsiders Merger Pact With Shire (WSJ)
• Winner of bad headline timing award: Spinoffs Could Set Stage for Next Merger Wave (BBG) - and now wait for the spinoffs getting pulled
• Record mortgage settlement pushes Bank of America into third-quarter loss (Reuters)
• Korea joins the Japan currency war: Bank of Korea Cuts Base Rate (WSJ)
• Double Irish’s Slow Death Leaves Google Executives Calm (BBG)
• Global Oil Glut Sends Prices Plunging (WSJ)
• Slow Rise in Prices Shows China’s Economy Is Still Struggling (WSJ)

However, today's very disquieting news reports confirm the CDC obviously can't...

For the fourth consecutive night, futures attempted to storm higher, and were halted in their tracks when the USDJPY failed to rebound from the recalibrated 107 tractor beam, following a statement by the BOJ's former chief economist and executive director (until March 2013) who said that now is the time for the Bank of Japan to begin tapering. Needless to say, there could be no worse news to bailout and liquidity-addicted equities as the last thing a global rigged market can sustain now that QE is about to end in two weeks, is the BOJ also reducing its liquidity injections in the fungible world. This promptly took away spring in the ES' overnight bounce. Not helping matters is the continuing selloff in oil, which as we reported first yesterday, has hit the most oversold levels ever, is not helping and we can only imagine the margin calls the likes of Andy Hall and other commodity funds (ahem Bridgewater -3% in September due to "commodities") are suffering. But the nail in the coffin of the latest attempt by algos to bounce back was the news which hit two hours ago that a second Ebola case has been confirmed in Texas, and just as fears that the worst is over, had started to dissipate.

And then there were three. As the Texas Department of State Health reported an hour ago, just three days after the shocking announcement that the late Thomas Eric Duncan had managed to infect one nurse in the first person-to-person transmission of Ebola on US ground, a second Texas Health Presbyterian Hospital worker has been infected with the deadly virus.

Crowdfunding is here, it is real, and it is growing!

The fiat dollar harms us in many ways, but rising prices is the least of them. There is no limit to prices, but credit abuse can only continue so long, before the dollar fails.