Archive - Nov 27, 2015 - Story

Consider how insulting it is! Why is the president of the country better qualified than we are to determine where our resources will do the most good? Why are members of Congress or local politicians? Who on earth do these folks think they are? Advocates of government wealth redistribution blatantly insult the rest of us by denying us the good sense it takes to spend our wealth.

The US E&P sector could be on the cusp of massive defaults and bankruptcies so staggering they pose a serious threat to the US economy. Without higher oil and gas prices — which few experts foresee in the near future — an over-leveraged, under-hedged US E&P industry faces a truly grim 2016.  "I could see a wave of defaults and bankruptcies on the scale of the telecoms, which triggered the 2001 recession."

If America is so 'exceptional' why is it the world's leader in needing to 'change'...

What follows is Mark, armed with just a bullhorn, taking on several hundred consumption zombies waiting in line at Best Buy, armed with just their overdrawn credit cards, or as he calls them "enemies of America. A symptom of this failed country. When this country is bankrupt, and it will be soon, you look in the mirror and that's who you blame."

"There are more people in the world who need a currency they can trust, than there are people in the world who can trust their currency."

While the S&P languishes unchanged in 2015, these small groups of overwhelmingly propagandized stocks are up on average over 60%, but with a collective P/E of 45, they are not cheap (and perhaps should remember that when buying this momo, we are all Thanksgiving turkeys).

"If you play with fire, you get burned," apart from if you are an official in the Argentine government it would appear. Just days after Argentina threw out the Peronists, who have ruled almost non-stop in the three decades since the end of military rule, The Ministry of Finance suffered a mysterious fire in its computer center, catastrophically (and coincidentally) destroying the prior-regime's files. This is not the first time a fire has destroyed government records - or second, or third, or even fourth...

Friday's nearly 6% plunge on the SHCOMP left some market participants wondering where the plunge protection team was hiding in the final minutes of trading. As FT reports, Beijing's so-called "national team" now owns 6% of the entire mainland market and as we saw in September, the paper losses on that kind of portfolio can add up quickly when things go south. The question now is whether the PBoC will step back in if we have a few more days like today.

After East Chicago re-elected an accused drug dealer and murderer as councilman, we thought the bar had dropped as low as it gets for the ignorance of an electorate. But, no! Bridgeport, Connecticut residents just took the proverbial biscuit by re-electing Mayor Joseph P. Ganim - who during his last 'reign' was convicted of 16 felonies including racketeering, extortion, and bribery.

With the winter of 2015 so far shaping up to be what some have dubbed "abnormally hot", we thought that at least this year the weatherconomists would keep their mouth shut: after all, if you blame cold weather for an underperforming economy, you better say nothing at all if the weather is warmer than usual as it has been in October and November. Alas, it was not meant to be, and so, without further ado, here are everyone favorite economweathermen from Goldman Sachs, warning everyone that, drumroll, yes, Winter Is Coming.

Within the last week China appears to have hit the panic button with regards the seemingly unstoppable collapse of commodity prices. First, desperate Chinese producers began to demand a QE-for-commodities bailout; then, following the well-trodden (and failing) path of China's equity market maipulation, authorities began to crackdown on "malicious" commodity short-sellers. So why now? Why focus attention on the commodity markets? Perhaps this chart holds the key...