• CalibratedConfidence
    08/30/2015 - 08:34
    Luckily we didn't hear anything more about Vomiting Camel formations but there was certainly an ample amount of "it's priced in" blaring in the background.

ETC

Tyler Durden's picture

Did Tim Cook Lie To Save Apple Stock: The "Channel Checks" Paint A Very Gloomy Picture





Is AAPL the next AOL, and is Tim Cook the next Thorsten Heins? It all depends on China: if the world's most populous nation can get its stock market, its economy and its currency under control, then this too shall pass. The problem is that if, as many increasingly suggest, China has lost control of all three. At that point anyone who thought they got a great deal when buying AAPL at $92 will have far better opportunities to dollar-cost average far, far lower.

 
Tyler Durden's picture

Greece - Now What





Here are some modestly optimistic musings on what may be next in the cards for Greece...

 
Tyler Durden's picture

Why The Recurring Economic Crises?





...as soon as credit expansion stops, the piper must be paid, and the inevitable readjustments must liquidate the unsound overinvestments of the boom and redirect the economy. And, of course, the longer the boom is kept going, the greater the malinvestments that must be liquidated, and the more harrowing the readjustments that must be made.

 
Tyler Durden's picture

The Troubling Decline Of Financial Independence In America





If you can't work for yourself and afford health insurance, something is seriously messed up.

 
Reggie Middleton's picture

A Forensic View of a Wall Street Bank Balance Sheet Shows How Much Risk Rests In Its "Assets"





After forensically analyzing Morgan Stanley's balance sheet (which is very much like the rest of Wall Street's balance sheet) I can draw direct parallels to that of Lehman and Bear Stearns in 2007. It's a party!

 
Tyler Durden's picture

Margin Calls Mount On Loans Against Stock Portfolios Used To Buy Homes, Boats, "Pretty Much Everything"





 

"In a securities-based loan, the customer pledges all or part of a portfolio of stocks, bonds, mutual funds and/or other securities as collateral. But unlike traditional margin loans, in which the client uses the credit to buy more securities, the borrowing is for other purchases such as real estate, a boat or education..." The result was "dangerously high margin balances,' - the products became “the vehicle of choice for investors looking to get cash for anything.” Mr. Sica and others say the products were aggressively marketed to investors by banks and brokerages.

 

 
Tyler Durden's picture

Who Will Be The Bagholders This Time Around?





Anyone betting China's GDP is really expanding at 7% and the U.S. economy will grow by 3.7% next quarter is angling to be a bagholder. Once global assets roll over for good, it's important to recall that somebody owns these assets all the way down. These owners are called bagholders, as in "left holding the bag." Those running the rigged casino have to select the bagholders in advance, lest some fat-cat cronies inadvertently get stuck with losses.

 
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Is Asia Set For Another Financial Crisis? Here's Goldman's Take





"Given the size of foreign holdings of Asian equity and debt, should foreigners reduce their portfolio holdings by 2-3% over the course of a month, it would broadly offset the region’s current account surpluses, leaving their external balances in a shakier position. During the 'taper tantrum' period, foreigners sold markedly more than 3% of their portfolio holdings through June and July 2013, highlighting the risk that portfolio outflows could cause further Asian currency weakness."

 
Tyler Durden's picture

1929 And Its Aftermath - A Contra-Keynesian View Of What Really Happened





A half-century ago, America - and then the world - was rocked by a mighty stock-market crash that soon turned into the steepest and longest-lasting depression of all time. Those who ignore the lessons of history are doomed to repeat it - except that now, with gold abandoned and each nation able to print currency ad lib, we are likely to wind up, not with a repeat of 1929, but with something far worse...

 
Tyler Durden's picture

Is The Correction Over?





The question on everyone's mind now is simply whether the correction is over, or is there more to come? The sharp "reflexive" rally that will occur this week is likely the opportunity to review portfolio holdings and make adjustments before the next decline. History clearly suggests that reflexive rallies are prone to failing and a retest of lows is common.

 
Tyler Durden's picture

The Raping Of America: Mile Markers On The Road To Fascism





There’s an ill will blowing across the country. The economy is tanking. The people are directionless, and politics provides no answer. And like former regimes, the militarized police have stepped up to provide a façade of law and order manifested by an overt violence against the citizenry. Americans must break free of the apathy-inducing turpor of politics, entertainment spectacles and manufactured news. Only once we are free of the chains that bind us—or to be more exact, the chains that “blind” us—can we become actively aware of the injustices taking place around us and demand freedom of our oppressors.

 
Tyler Durden's picture

Why The Bear Of 2015 Is Different From The Bear Of 2008





Are there any conditions now that are actually better than those of 2008? Or are conditions now less resilient, more fragile and more dependent on unprecedented central bank interventions?

 
Tyler Durden's picture

Futures Just Crashed To New Overnight Lows, S&P Down 3%





S&P FUTURES AT DAY’S LOW, FALLING 61PTS OR 3.1%
NEW LOWS FOR NASDAQ FUTURES, DOWN 195PTS OR 4.6%
NEW LOWS FOR DOW FUTURES DOWN 533PTS OR 3.2%
EUROPE’S STOXX 600 FALLS 5.3%, WORST ONE-DAY DROP SINCE 2011

 
Tyler Durden's picture

"Savage Speed" - A Look Inside Market Crash Statistics





What makes a market is having differing opinions at nearly all times. It is therefore educational for people caught off guard last week to see -once more- that markets can drop at a savage speed (as opposed to the overall magnitude), regardless of whatever foggy economic situation we are in (or market participants believe them to be).

 
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