Archive

February 27th, 2015

Phoenix Capital Research's picture

The Recovery, Unemployment, and Earnings Are All Based on Fraud and Accounting Gimmicks





For six years, we’ve been told that the US economy is in recovery. This is a totally bogus narrative that was dreamt up by the Central Planners running the Fed. The US economy is a disaster and has been since 2009.

 

Tyler Durden's picture

Missouri Auditor, Governor Hopeful, Dies Of Apparent "Self-Inflicted Gunshot Wound"





Over the past year, there had been a perplexing spike in suicide events involving bankers, especially those of Deutsche Bank and JPMorgan. Overnight, the first prominent public sector suicide shook the state of Missouri when its state auditor Tom Schweich died in St. Louis in what is said to be an apparent suicide, at the age of 54, around 9:48 am on Thursday, when Clayton Police Chief Kevin Murphy said paramedics responded to an emergency call from his home. Schweich was then taken to a hospital, where he was pronounced dead from a single gunshot wound. The Police chief was quoted by Kansascity.com, who said that “What we know at this point suggests an apparent suicide.”

 

Tyler Durden's picture

The "Cashless Economy" Is A Myth





Forget what you think you know about credit and debit cards, PayPal, bitcoin, Apple Pay and any other modern conveniences meant to displace physical currency. The truth is that transactional currency ($1 through $20 bills) in circulation per capita today in America is essentially where it was, inflation adjusted, in 1994: $661 then and $649 today. Simply put, despite the mainstream media buzz, the “Cashless economy” is myth.

 

RANSquawk Video's picture

RANsquawk - Weekly Wrap - 27th February 2015





 

hedgeless_horseman's picture

The Law, as given to Moses by The God of Abraham, The God Israel, The God of Christianity, and The God of Islam





For our reading, interpretation, contemplation, discussion, daily use, and I am most certain...our debate.

 

Tyler Durden's picture

Presenting AAPL's Reaction To The Worst Manufacturing Report In 6 years





Ugly data this morning had stock markets leaking lower into and beyond the open, and then Chicago PMI's total and utter collapse hit the tape... and this happened...

 

Sprott Money's picture

$1,000/oz For Silver (Today): A Starting Point





Regular readers are well aware of an unresolved problem/issue which has permeated these commentaries for (especially) the past three years: the lack of any rational or objective means for pricing assets, most notably precious metals themselves. There are two enormous obstacles facing any analyst, in attempting to resolve this issue.

 

williambanzai7's picture

CLouD NeiN...





You can't be what you want to be...You're a Trillion Euros from reality...

 

Tyler Durden's picture

Pending Home Sales Miss For 5th Month In A Row





Despite a modest 1.7% rise (after dropping 1.5% in December), Pending Home Sales missed expectations of a 2.0% rise - the 5th monthly miss in a row. It appears NAR's chief economist Lawrence Yun has flip-flopped: On existing home sales, NAR blames drop on lack of supply (as prices drop); on pending home sales, NAR says buyers overcame lack of supply.

 

Tyler Durden's picture

UMich Consumer Sentiment Tumbles Most In 16 Months





Despite modestly beating the flash print earlier in the month, it appears consumers are less enamored with how awesome everything is in America. Printing 95.4 against January's 98.1 - this is the biggest MoM drop since Oct 2013. Both current conditions and future expectations dropped from January with fewer people expecting higher incomes, and a plunge in favorable business expectations over the last few months.

 

Tyler Durden's picture

Chicago PMI Crashes Most Since Lehman To Lowest Since July 2009





January's brief 'hope' bounce following 3 months of weakness is long forgotten as February's Chinago PMI crashes to 45.9 (missing expectations of 57.5) - its lowest since July 2009. This is the biggest MoM drop since Lehman in Oct 2008. New Orders suffered the largest monthly decline on record, leaving them at the lowest since June 2009. Seems like it is time to blame the weather... PMI says it is "difficult to gauge magnitude of weather and port strike" but blames it nonetheless.

 

Tyler Durden's picture

Piraeus Bank Denies Rumor It Has Run Out Of Cash





UPDATE: *PIRAEUS BANK CFO DENIES SPECULATION OF CASH SHORTAGE

It appears the worst fears of many Greeks may be coming true following a Stratfor report that Piraeus Bank ATMs in downtown Athens appear to have run out of money - telling "customers that there is no cash and the situation will last through the weekend." However, locals, reporting on Twitter, claim this is false. Greek stocks (especially banks) are down hard, as is the EURUSD.

 

Tyler Durden's picture

Q4 GDP Revised Down To 2.2% From 5.0%: Full Breakdown





There was much hope that when Q3 GDP soared to 5%, primarily on the back of Obamacare spending recalendarization and a massive consumption/personal saving data revision, that the US economy would finally enter lift-off mode. Those hopes were reduced by about 60% when moments ago the BEA announced that Q4 GDP was revised from the original 2.64% print to only 2.18%, which while better than expected, was the lowest economic growth rate since the "polar vortex."

 

Tyler Durden's picture

"Panic Must Be Stopped" Ukraine Central Bank Head Says, Boosts Capital Controls





Yesterday, when we observed the latest record plunge in the Ukraine currency we predicted that the imploding, hyperinflating nation will "halt currency trading any minute." Well, Ukraine has so far not fully blocked all trading... yet, however hours ago Ukraine’s central bank did the next best thing when it announced it would "boost restrictions on capital operations as it fights to quell panic that has triggered deposit withdrawals and depleted foreign-exchange reserves, Governor Valeriya Gontareva said." The punchline, almost literally, "Panic must be stopped and we are doing that now,” Gontareva said. Because there is nothing that creates more panic than warning "panic must end or else..."

 

Pivotfarm's picture

EM Euro Issuance Will Be Highest In A Decade On QE





Euro-denominated emerging market sovereign issuance will soar to its highest levels in 10 years on the back of the European Central Bank's quantitative easing programme, as issuers outside the eurozone seek to take advantage of falling euro yields, according to bank analysts.

 
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