The Euthanasia Of The Saver

American banks have largely gained from low interest rates, British banks have suffered losses as a result and in the Eurozone they have been hugely detrimental to banks’ profitability. The ones who have undoubtedly lost out were those quintessential Keynesian villains: the savers. The medicine prescribed by the central banks to correct their “bad” ways has cost them billions. And given that yields have continued to go down since McKinsey's report was published, their misery has only increased. More high fives from Keynes! And yet, even within those groups the impact has been uneven. Who in the household segment is suffering the most because of ultra-low interest rates? The retirees, of course.

BoJ QE Exit "Out Of The Question," Former Official Says As Morgan Stanley Talks JGB Liquidity

"If the BoJ persists with its current pace of JGB purchases, then the incentive for investors to reduce their holdings any further is likely to dwindle away within the next 18–24 months, at which point liquidity may evaporate altogether," Morgan Stanley says, calling liquidity the "major theme" in the JGB market. Meanwhile, a former MoF official claims the BoJ is now in so far over its head that an exit from stimulus is "out of the question."

But They Said "Go To College"

Students are left with a debt burden that can’t be written off by declaring bankruptcy, very few jobs in their fields of study, wages that can barely cover the debt payments, and no chance of ever owning a home. They were told by their parents, politicians, and the mainstream media that college was the path to prosperity. They were lied to.

"Above The Law" Fed Ignores Congressional Deadline On FOMC Minutes Leak Probe

In a stunning shun to Congressional lawmakers, WSJ reports that The Fed has failed to comply with a request that the bank-owned entity identify the individuals who leaked The FOMC Minutes to Medley Global Advisors a day before the official release in October 2012. Rep. Jeb Hensarling sent a letter to Fed Chairwoman Janet Yellen on April 15 asking the Fed to name them by 5 p.m. EDT April 22. The deadline passed without any response by the Fed...

Dear CFTC: This Is The Market Manipulating "Spoofing" Taking Place In The E-Mini Just Today

Dear CFTC:

Just because we know how serious you are in your quest to root out all market rigging, or as you put it in your charge against Navinder Sarao "manipulation or attempt to manipulate the price of the intra-day contract price for the near month of the E-mini S&P," we have decided together with Nanex to once again give you a helping hand, and point out all the spoofing that has taken place in the E-mini or ES. Just today

"China Has A Massive Debt Problem", And Why It Is About Get Much Massiver

"China has a $28 trillion problem. That’s the country’s total government, corporate and household debt load as of mid-2014... equal to 282 percent of the country’s total annual economic output," Bloomberg notes, adding that efforts to deleverage this massive debt burden aren't compatible with the measures Beijing needs to take to boost economic growth. But if you thought the debt problem was bad now, it's going to get worse because as Reuters notes, China is about to activate the ABS machine.

"Plan B"

Ask yourself: where do you think this is going? Do you really think your home country will be more free and more prosperous in five years? If not, it’s time to come up with a Plan B...

Peak FaceBook?

The reason one can't help but wonder just how much of FB's "users" are merely robotic autoclicks and/or originate at various clickfarms somewhere in Asia, is that taking the Google Trends chart posted above, and represented as of today, reveals something troubling.

Living In A Post-Volatility World

Hence, if and when a genuine price for risk reappears, the effect may be greatly magnified as it was in the US housing market a few years back under not dissimilar circumstances. As Karl Popper noted, volatility can be suppressed in a capitalist system, but it must ultimately reappear. Sooner or later, we will face a good deal of fireworks.

The "Smart Money" Has Never Been More Bearish

The put/call ratio of open interest on S&P 100 (OEX) options has historically been a "smart money" indicator. The stock market peaked (anbd has drifted sideways for the last 6-7 weeks) since March 3rd saw an unprecedented string of bearish readings. The bearish OEX put/call readings have not relented, however. In fact, the bearishness has accelerated to an extreme level never seen before.

Goldman's Advice On Economy Like Dracula's Advice On Blood Banks, British Economist Says

"Listening to Goldman for advice on how to run the economy is like listening to Dracula on how to run a blood bank,” a prominent British economist says, in response to the bank's assessment of the dangers inherent in a "leftward shift" in the UK government. "Their real aim is to avoid 50p tax rates for high earners, the Mansion Tax and other small impositions which shift some of the burden of austerity onto the shoulders of the rich, the likes of Goldman Sachs bankers and their clients," another economist notes.

Exposed: The Real Market Manipulator Behind The Flash Crash

"To find the real source of the system's excessive fragility, the regulators will need to look much closer to home... The Federal Reserve remains the largest market manipulator ever, and the desperate yield-chasing, hair-trigger markets that it created were the primary cause of that crash and the inevitable ones yet to come."

When Did We All Become Murderers?

Appalled doesn’t cover it. Disgusted won’t do either. Angry doesn’t come close. Maybe we have yet to learn of a word that would express our feelings on the following topic. There’s a disease, an epidemic, that spreads through out the western world. We are all turning into accomplices to murder. And we still believe we are better than that. Just perhaps not all of us.