• Tim Knight from...
    12/21/2014 - 09:37
    The five remaining equity bears on Earth are all saying the same thing: "We'll get 'em in 2015." To which I ask: why? What's going to change?

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More To Ruble's Collapse Than Meets The Eye?

The ruble is dying, and fast. Ill prepared to wait it out, the central bank is clearly a step behind the game and perhaps even out of its league. But Black Monday suggested other powers might be at play.

Monday was incidentally the day of an interesting 700 billion ruble liquidity auction. Prior to the auction, Rosneft raised 625 billion rubles (almost $11 billion) in a bond issue backed by the central bank...



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Previewing 2015... And 2014, And 2013, And 2012, And 2011, And 2010

Deja vu all over again... and investors remain ever full of faith...



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Cheap Oil: Too Much Of A Good Thing?

The 40%-plus drop in oil prices over the past 6 months has garnered a lot of attention recently, most of it focused on the economic stimulus lower oil prices should provide the global economy, the impact on currency and fixed-income markets, and the increase in economic pain suffered by exporters such as Iran and Russia. However, based on historical data, the potential increase in geopolitical tail risk that lower oil prices may represent is an overlooked consequence that, while low probability, would have an outsize impact on the global economy.



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Artist's Impression Of Obama's Iran Nuclear Policy

With all eyes firmly distracted in Cuba (or Sony or Russia or Ukraine), we thought a brief reminder worthwhile...



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Who Will Be Tomorrow's Superpower?

Around the world, unsustainable policies from the 20th century are beginning to fail in earnest. What will the future geopolitical landscape look like in their aftermath?



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The USA Is World #1... In Young Adult Income Inequality

Think young adults in Mexico, Thailand, Philippines, and Russia have it tough? Think again. 20-24 year-olds in the USA have an average gross income over 40% below the national average. That is the worst disparity in the world... USA USA USA!!



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Further Proof That Abenomics Is A Total Disaster: Japan Car Lobby Admits "Sense Of Panic"

"Abenomics is not having clear traction across the country," warned the head of Japan's auto lobby on Thursday as unexpectedly weak domestic sales revealed - yet again - what an utter disaster government policy is. "We feel a sense of crisis about the fact that cars are actually not selling," he exclaimed, saying that, as Reuters reports April sales tax hike was only partly to blame for the domestic sales weakness, citing the government's failure to boost consumption. But, but, but Japanese stocks are up 1000 points in the last 2 days so how can this be?



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Russia Has Begun Selling Its Gold, According To SocGen

"It appears possible that the Central Bank of Russia has started to sell off some of its gold reserves in December, with some sources reporting that official gold reserves dropped by $4.3 billion in the first week of the month."



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The Annotated History of US Dollar Debauchery

With everyone and their pet rabbit convinced the US Dollar strength continues, we thought some longer-term context on the 'strength' of the dollar was useful...



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Comstock Suspends Drilling In Eagle Ford Due To Plunging Oil Prices

Shale 0 - Saudi Arabia 1



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3 Things Worth Thinking About

Shifting consumption from gasoline sales to retail sales does not create economic growth. It is just a "shift" in where the same dollars are spent. However, there has been much "hoopla" over the recent retail sales report for November that saw retail sales jump for the month by 0.7%. While on the surface this appears to be a strong retail sales report, a quick look below the surface quickly destroys that claim.



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Sorry Folks, The North Koreans Hacked The "Global Recovery"

We are far too speechless to even comment on the latest Goldman "leading indicator" swirlogram, which we can only assume was made public after another unprecedented "North Korean hack" at US "recovery" propaganda central, so here is Goldman's own take:



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World Awaits Russian Response As Obama Makes "Lethal Aid" To Ukraine Legal

As we explained previously, quietly hidden within the humanitarian-sounding "The Ukraine Freedom Support Act of 2014", under the premise of enabling further sanctions on Russia, is the provision of "lethal aid" to Ukraine. Today, President Obama signed it into law...

*OBAMA SIGNED RUSSIAN SANCTIONS BILL TODAY, but SAYS HE DOESN'T PLAN TO IMPOSE SANCTIONS UNDER NEW LAW

Because he knows full well that is not the important part. The "lethal-aid" aspect is a direct provocation to Russia.. and he knows exactly how Putin will respond.



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Is The Oil Implosion Supply Or Demand Driven? Here Is The Very Simple Answer, Thanks To Saudi Arabia

There has been much debate whether the crude price implosion has been due to excess supply or not enough demand. Here, courtesy of the oil minister at the world's largest crude supplier, is the answer:

  • NAIMI SAYS DEMAND FOR OIL SLOWED MORE THAN EXPECTED: SPA
  • NAIMI SAYS GLOBAL ECONOMY SLOWDOWN LARGELY BEHIND MKT PROBLEM

Which, of course, to anyone with even the most rudiemntary logic and charting skills, should not come as any surprise.



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