Archive - Apr 5, 2015
Running Out Of Accounting Gimmicks: EPS Addbacks Surge Most Since Lehman
Submitted by Tyler Durden on 04/05/2015 10:16 -0500The amount of non-GAAP addbacks boosting the S&P "earnings" to their latest quarterly high has never been greater. In fact, the last time the absolutely notional value of pro-forma addbacks was anywhere near this close was in the Lehman "kitchen sink" quarter, when companies took advantage of the biggest bailout in capitalist history, to square their fudged income statement and balance sheet with accounting reality, resulting in an addback that was greater than the actual GAAP print!
Six Key Issues for Investors
Submitted by Marc To Market on 04/05/2015 09:24 -0500A dispassionate look at the drivers of the investment climate in the week ahead.
Chinese Taxi Drivers Attempt Mass Suicide Protest With Weed Killer, No One Dies
Submitted by Tyler Durden on 04/05/2015 09:10 -0500Everyone is reportedly "out of danger"...
The Only TV News Report On The Economy You'll Ever Need
Submitted by Tyler Durden on 04/05/2015 09:05 -0500Confused as to whether good news is bad news, bad news is good news, or no news matters whatsoever, this brief clip summarizing every mainstream media report on the economy explains it all...
This Statement is Signalling the Bottom for Gold Miners
Submitted by Sprout Money on 04/05/2015 07:53 -0500The best contra-indicator at work...
The Bank-State Bargain - Breaking The Basic Rules Of Capitalism
Submitted by Tyler Durden on 04/05/2015 07:00 -0500There’s no getting away from it. Banks create money out of nothing when they extend loans and then charge borrowers interest on this newly created capital. The result is an ongoing multi-billion pound/ dollar subsidy breaking the basic rules of capitalism. Galbraith was right. Governments should be more pragmatic. Politicians should stop hiding behind the skirts of ‘the market’ and make some judgement calls. As many have said, we need banking but we don’t need banks, at least not banks like this.
Saudi Stocks Are Plunging Following Rejection Of Russian Embargo Proposal; Death Toll Mounts
Submitted by Tyler Durden on 04/05/2015 06:03 -0500Earlier this morning, RT reports that Saudi Arabia rejected Russia’s amendments to a Security Council draft resolution which would see an all-inclusive arms embargo on all parties in the Yemeni conflict. Saudi stocks did not like the news and began to tumble - now down over 3%, back at January lows as the fighting continues to spiral out of control with civilian death toll climbing. At least 185 people were left dead and more than 1,200 wounded as a result of fighting in Aden, a medical official told AFP Saturday, three-quarters of them civilians. In the meantime, Reuters reports The Houthis are gaining ground in Aden, despite the onslaught of airstrikes; and the Saudi ambassador to the United States, said sending ground troops remained "on the table."
