• Tim Knight from...
    09/29/2014 - 19:50
    Which brings us to Clinkle, which is a firm founded by a 22 year old with no business successes behind him (which at least Color.com's founder could claim, as he sold his firm to Apple for...

Tyler Durden's picture

Martin Armstrong Fears "Pension Funds Will Be Taken To Fund Infrastructure"

Behold Obama’s dream project – a global infrastructure fund. This idea was floated and endorsed at The G-20 in Cairns this weekend. “We have agreed to come away from government-financed growth measures to more private investment,” said Australia’s Finance Minister Joe Hockey. These are being called Public Private Partnerships (PPP), and will be extremely critical in the future for here lies the final destruction of the pension funds precisely as Japan bankrupted the Japanese Postal Saving Fund using that private money for political purposes to try to stimulate the economy, which failed. With PPP, public funds will be sold to the public as being a highly professional long-term investment that will further shrink economic growth and liquidity. They cannot possibly work.



Tyler Durden's picture

They Do Ring A Bell At The Top: Alibaba Proves Wall Street Is Off Its Rocker

So with regards to BABA’s $230 billion market cap at week’s end, you can say this: None dare call it price discovery! What it shows is that Wall Street is well and truly off it rocker. The Chinese swindlers behind BABA didn’t even have to tap their home market. These preposterously over-valued shares were sold overwhelmingly to Wall Street - to the gamblers, speculators and robo-traders that have occupied what was once a reasonably honest capital market. So why did Wall Street capitalize an opaque mass merchant operating in a precarious economy at 27X sales?  The answer is that Wall Street is a momentum driven casino that is now over-valuing everything that moves and all that stands still. That’s the ultimate evil of monetary central planning. Having destroyed honest price discovery in the financial markets, the Fed now “accommodates” the speculators one meeting at a time - in deathly fear of a hissy fit.



Tyler Durden's picture

What Iraq Thinks: "It Is Obvious To Everyone That ISIS Is A Creation Of The United States And Israel"

Ever since the stunningly rapid arrival of ISIS on the global scene, there has been speculation that this spin-off of Al-Qaeda, itself a "terrorist" organization if not created by the CIA then certainly funded by Langley courtesy of Operation Cyclone in its "freedom fighter" stage, has had the implicit or explicit backing of either the US or Israel intelligence service. Nowhere is such speculation more vocal than in the one country that has suffered the most from ISIS: Iraq, or rather what is left of the country now that it is split into southern Iraq, the Islamic State, and a Kurdish region that quietly sells crude to unknown buyers at blue light special prices. To the Iraq locals there is no mystery: “It is obvious to everyone that the Islamic State is a creation of the United States and Israel” says Omar al-Jabouri, 31, a Sunni Muslim from a predominantly Shiite neighborhood of Baghdad. His view echoes what a vast number of his peers think.



Tyler Durden's picture

Peter Thiel "Fixes" America's Anti-Business Policies In 6 Words

With retail store closures running at their fastest pace since Lehman, and business closure rates higher than start-up rates for the first time in US history, billionaire venture capitalist Peter Thiel has some short-and-sweet advice on how to fix the apparent anti-business sentiment in America: "Get Government Out Of The Way."



Tyler Durden's picture

First Germany, Now France Folds On Syrian Airstrikes

In yet another rather embarrassing event for The White House, just days after President Obama praised the French for helping in the fight against ISIS, and General martin Dempsey noted "the French were our very first ally and they're with us again now," French officials have, according to Reuters, ruled out participation in airstrikes against Islamic State in Syria. With the fall of France (and Germany already saying "nein"), it appears the broad coalition is now a "coalition of none," as Obama has stated the US would not go it alone...



Tyler Durden's picture

Barclays Fined De Minimus $60 Million For "Corzining" Client Funds

In yet another round of penalties for the British bank, Sky News reports that Barclays will pay a GBP38 million ($62 million) fine for failing to segregate clients' funds correctly - i.e. "Corzining" its clients. The Financial Conduct Authority (FCA) will announce the small but record (higher than the $50 million fine for JPMorgan over its "corzining") penalty tomorrow. If you are a Barclays client, have no fear, for as they explain, "losses for Barclays’ clients were theoretical rather than actual."



Tyler Durden's picture

Ron Paul Blasts Congress 'More War' Vote, "They Come Over Here, Because We Are Over There"

If we want to stop radical terrorists from operating in Syria and Iraq, how about telling our ally Saudi Arabia to stop funding and training them? For that matter, how about the US government stops arming and training the various rebel groups in Syria and finally ends its 24 year US war on Iraq. Remember, they come over here because we are over there. So let’s not be over there any longer.



Tyler Durden's picture

BofAML Repeats Art Cashin's Concerns Of A September Seasonal Slump

Having cautioned investors this morning of the historical tendency for market reversals on September 22nd after hitting all-time highs, UBS' Art Cashin's warning has been echoed by BofAML's Macneil Curry who notes risk assets are set to correct as negative seasonals dominate the S&P500 this week. This is bullish for Treasuries, Curry adds. "Crazy?  Maybe, but forewarned is forearmed," as Cashin concludes.



Tyler Durden's picture

SEC Pays Unknown Foreign Whistleblower Record $30 Million Award

Did someone finally inform the SEC that Bernie Madoff's business model has been adopted by every central bank in the "developed world?" Whatever the reason for today's record SEC award, which almost certainly has to do with HFT, a topic which this blog first brought to light back in 2009 when nobody had a clue what algo/high frequency trading is, congratulations to the lucky winner (unless of course it has to do with someone spilling the beans on US tax evaders in Swiss banks), and our condolences to the banks, because now that one can comfortably retire by informing the regulators of the pervasive crime that takes place within the US financial system on a daily basis, suddenly every disgruntled person laid off by the US banking sector is the next potential $30 million aware recipient.



Tyler Durden's picture

Barbarism Versus Stupidism

"In my lifetime, the USA has not blundered into a more incoherent, feckless, and unfavorable foreign policy quandary than we see today. Does any tattoo-free American adult outside the Kardashian-NFL mass hypnosis matrix feel confident about the trajectory of US policy regarding the so-called Islamic State (ISIS, ISIL)?"



Tyler Durden's picture

China's Economy Slams On The Brakes: 30% Of Coal Miners Unable To Pay Employees On Time

More than 70 per cent of the country’s coal miners were losing money and had cut salaries. Translated: widespread wage deflation, in a country where M2 is expected to grow at a double digit pace. And the really bad news: "About 30 per cent of the industry’s miners had not been able to pay their employees on time and a further 20 per cent had cut salaries by more than 10 per cent, the Economic Information Daily, a Xinhua-affiliated newspaper, reported on Monday."

 



Tyler Durden's picture

California Or Ethiopia? "Families Dream Every Night About Water"

It's worst and getting worst-er. Hundreds of domestic wells in California's drought-parched Central Valley farming region have run dry, according to AP, leaving many residents to rely on donated bottles of drinking water to get by. With government set to regulate deeper drilling, hope is plunging that a solution to California's drought will come anytime soon as groundwater levels plunge. The stories of struggle are simply stunning, especially given they are coming from America with Governor Brown signing an executive order that provides money to buy drinking water for residents statewide whose wells have dried up. "We need water like we need air," exclaimed one charity leader trying to raise money for water tanks, "Families every night dream about water," said another. And ripped from the famine-headlines of East Africa, "every day [Californians] thinking about how they're going to deal with water."



Tyler Durden's picture

US Stocks Give Up "Dovish FOMC" Gains As Russell 2000 Completes "Death Cross"

The narrative just a few short days ago was how 'dovish' the Fed was (despite their apparent hawkishness) and that clearly they would not act unless they were highly confident of future US economic growth (which they have shown almost perfect ineptitude in forecasting). The savior of any weakness in this meme was 'well the rest of the world will take up the money-printing mantle'... but that narrative broke this weekend. Only The Dow (for now) is still holding gains post-FOMC with the Russell 2000 down over 2% since then having completed its 'death cross' today.



Tyler Durden's picture

Albert Edwards Presents "The Most Important Chart For Investors"

Which incidentally has nothing to do with stocks or bonds, and everything to do with all-important FX. To wit: "If a clear break in the yen downwards against both the dollar and euro is occurring, not only will this spell trouble for the beleaguered Chinese economy and exacerbate deflation in the west, but it will also break the spell of German economic dominance"



Tyler Durden's picture

This Is What Happens When Goldman Writes The Central Banker Script

Curious what happens when Goldman writes the script for its central banker alums? This.

  • DRAGHI SAYS EXCHANGE RATE IS IMPORTANT, NOT A POLICY OBJECTIVE
  • DUDLEY SAYS VALUE OF DOLLAR CAN IMPACT APPROPRIATENESS OF MONETARY POLICY, NOT A POLICY GOAL

At this point one should just laugh.



Do NOT follow this link or you will be banned from the site!