Archive

July 24th, 2015

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What's Really Killing Capitalism





Zombies and cronies stifle the process of growth and wealth creation. New knowledge – accumulated by others – is threatening. It is what causes disruption. And what economist Joseph Schumpeter called “creative destruction.” Cronies fear this new knowledge and try to block it from ever happening – with subsidies, licensing requirements, and other regulatory impediments. It is this obstructionism is a bigger threat to prosperity than debt.

 

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Iran - Before & After The Nuclear 'Deal'





Presented with no comment...

 

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Another VA Scandal: GI Bill Funnels Taxpayer Money To Masturbation Classes, "Hate Churches" & More





If you feel you’ve had enough Department of Veteran’s Affairs (VA) related scandals for one lifetime, you’ve come to the wrong place...

“We want to get people out of their ruts. Have you been masturbating the same way for 20 years?” the instructor asked rhetorically. “How’s that going for you? Would you like to try something new?”

 

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Syriza "Rebels" Planned To Ransack Greek Mint, Seize Cash Reserves, Arrest Central Bank Governor





Syriza hardliner Panayotis Lafazanis and "a diverse group of far left activists from supporters of the late Venezuelan president Hugo Chávez to old-fashioned communists," planned to take over the Greek mint, commandeer the country’s reserves, and arrest Yannis Stournaras, the governor of the Bank of Greece, FT says, describing a secret plot hatched at an Athens hotel last Wednesday.

 

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5 Things To Ponder: Shades Of Risk





"It wan't raining when Noah built the ark."

 

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Friday Humor: Buy High, Sell Low





 

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Dear CFTC: Here Is Today's Illegal "Spoofing" In Gold Futures





As Nanex once again shows, having captured the exact "spoofing" moment, the action was all on the ask side, with a "spoofer" first representing a large sell order, and sending gold lower after 2:41pm, which remains on the order book, but which promptly vanishes once the actual price of gold crossed into the spoofer's "ask" following a subsequent ramp at 4:51pm.

 

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The Death of Gold... Or Not!





China will be a net buyer, and a net importer of physical gold for years to come. In and of itself that won’t necessarily cause a sharp rally in gold prices anytime soon, but gold acquisition from the Chinese state and her citizens, as well as emerging market central banks the world over will continue to provide support for the physical gold market. Those that have sold gold in the past few days (and there have been plenty in the ETF and futures markets) as a result of the “disappointing” number out of China may have just caused the capitulation event that typically marks the bottom of any bear market.

 

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Dow Dumps 600 Points From Monday's Jubilant Highs





From 18,075 highs, The Dow Industrials - hit by a smorgasbord of missed earnings and weak guidance - has collapsed 600 points from its highs a week ago... This is the worst week for the Dow since January...

 

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Gold Spikes Back Above $1100, Bitcoin Jumps





Gold is jumping after the overnight double flash-crash...testing back towards $1100... And another alternate currency is ripping. Bitcoin is back up to pre-"Greece is Fixed" levels...

 

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Copper, China And World Trade Are All Screaming That The Next Economic Crisis Is Here





If you are looking for a “canary in a coal mine” type of warning for the entire global economy, you have a whole bunch to pick from right now.

 

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Hillary Speaks In New York About Her Economic Policy - Live Webcast





It is unclear if Clinton will received $250,000 for today's speech in New York which is expected to outline Blackrock's the presidential candidate's new tax agenda (profiled previously), but it is assured that any questions relating to the just broken news that Clinton lied about not sending any confidential emails will be duly muted.

 

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Russia, China Delay "Holy Grail" Gas Pipeline Sequel As China's Economy Swoons





In May, Chinese President Xi Jinping visited Moscow, where Gazprom Chief Executive Alexei Miller and China National Petroleum Corp Vice President Wang Dongjin signed a gas export deal which paves the way for 30 bcm/y to China via a new "Western Route." Now, slumping Chinese demand (a pervasive problem at the heart of the global commodities downturn), threatens to undercut the agreement.

 

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Obama Has Arrived: The Kenya Kaption Kontest





The Hillary scandal just got real. The commodity crash getting worse with every passing day. The BTFDers frozen in carbonite and even the biotechs are "wealth effecting." But at least the president is on top of it.

 
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