• EconMatters
    04/27/2015 - 14:18
    If the DOJ and CFTC is going to be consistent, then they have to indict the entire financial community from the CME, Exchanges, Brokers, Institutions, Investment Banks, Hedge Funds, Management Funds...

fixed

Tyler Durden's picture

Central Banking Refuted In One Blog - Thanks Ben!





Blogger Ben’s work is already done. In his very first substantive post as a civilian he gave away all the secrets of the monetary temple. The Bernank actually refuted the case for modern central banking in one blog. The truth is the real world of capitalism is far, far too complex and dynamic to be measured and assessed with the exactitude implied by Bernanke’s gobbledygook. In fact, what his purported necessity for choosing a rate “somewhere” actually involves is the age old problem of socialist calculation.

 
Sprout Money's picture

Here's Why Investment Banks Love The ECB’s QE Program





According to Citigroup, the revenues from trading fixed income securities has been decreasing since the end of the global financial crisis, but this trend might very well be reverted soon as investors are desperately trying to protect their assets from erosion.

 
Tyler Durden's picture

Greece Hints At Default, Russian Pivot:"Will Not Respect IMF Deadline" - What Happens Next





Update: GREECE GOVT DENIES PLAN TO DELAY APRIL 9 IMF PAYMENT: REUTERS

For now the algos can't decide if Greece is joking about making the payment or joking about not making the payment.

 

 
Tyler Durden's picture

Why Weeks After The ECB QE Started Many Are Already Calling For Its Taper





While we doubt that the ECB will, of its own volition, elect to scale back PSPP out of a highly uncharacteristic respect for sanity and prudence, there are a variety of factors which could lead to a forced taper. Some market participants are already betting that the ECB scales back purchases by the end of the calendar year.

 
Tyler Durden's picture

Massive Blackout Hits Turkey, Grounding Planes, Stopping Subways; Terror Not Ruled Out





Turkey suffered a massive power outage that left half of the country’s 81 provinces without electricity, in what was the largest blackout in a decade and a half. Possible causes include a cyber attack and/or cats...

 
Tyler Durden's picture

Futures, Oil Slide As Surging Dollar Now Takes Window Dressing Stage





Did stocks window dressing come one day early in this volatile, bipolar, stop-hunting, HFT-infested market? Looking at futures this morning, which are down about 12 points already on yet another surge in the USD which has sent the EURUSD just above 1.07, the lowest since March 20 , and the USDJPY back under 120 now that the "strong dollar is bad for stocks after all" algo seems to be back from vacation, all those hedge funds who chased risk higher yesterday because their peers did the same, may find they are all selling on the way down. It will be oddly ironic if all of yesterday's widely touted gains evaporate comparably in the first 10 minutes of trading today, and lead to an end in the longest streak of quarterly increases in two decades.

 
Tyler Durden's picture

"Repeal, Don't Reform The IMF" Ron Paul Rages





By taking money from American taxpayers to support economically weak and oftentimes corrupt governments, the IMF distorts the market, enriches corrupt governments, and harms both the American taxpayer and the residents of the counties receiving IMF "aid." It is past time to end the IMF along with all instruments of American interventionist foreign policy.

 
Tyler Durden's picture

JP Morgan Has A "Problem" With Emerging Markets





Despite what may look to be "cheap" valuations, JPM calls the EM contrarian approach “tactically challenging” thanks to leverage, a difficult environment for economic growth and Janet Yellen. "Each of these is a problem, in our view. In combination, they could be a serious problem," the bank notes.

 
Tyler Durden's picture

Futures Jump On Chinese Easinng Speculation, False Rumor Of PBOC Rate Cut





With the rest of the developed world's central banks waiting for the Fed to admit defeat for one more year and delay its proposed rate hike (or launch NIRP/QE4 outright) it was all about China (the same China which a month ago we said would launch QE sooner or later) and hope that its central bank would boost asset prices, when over the weekend the PBoC governor hinted that more easing is imminent to offset the accelerating drag after he admitted that the nation’s growth rate has tumbled "a bit" too much and that policy makers have scope to respond. How much scope it really has now that its bad debt is rising exponentially is a different question. It got so bad, Shanghai Securities News leaked a false rumor earlier forcing many to believe China would announce an unexpected rate cut as soon as today, in the process sending the Shanghai Composite soaring by 2.6%.

 
Tyler Durden's picture

"The Risks Are Very High" Swiss Billionaire Warns "Global Financial Markets Have Never Been This Distorted Before"





"Global financial markets are more distorted than ever before and accordingly, the risks are very high... All equity and currency markets are pretty extended, at present; and many of the bond markets are as well... We know that the longer a distortion prevails, the more investors get used to it and it becomes the “new normal” to them. That’s where the problem lies! I see three potential threats..." - Felix Zulauf

 
Tyler Durden's picture

Why There Is No Wage Growth In America





Over the past 2 years the Obama administration has been desperate to boost minimum wages, usually over tedious bickering with republicans and corporations who have resisted such an increase, with neither party realizing that such a measure would not do much to actually boost aggregate spending. Instead, what Obama should have been focusing on was to limit the maximum number of hours worked per week, because as the following chart shows, the reason why weekly pay is rising and aggregate earnings is not due to an increase in hourly wages but because Americans are simply working longer hours every week: not quality but quantity.

 
Tyler Durden's picture

Final Q4 GDP Unchanged At 2.2%, Below Expectations; Corporate Profits Tumble





So much for the "self-sustaining", "escape-velocity" recovery. Again. After rising at an annualized pace of 4.6% and 5.0% in Q2 and Q3, the final Q4 GDP estimate (a number which will still be revised at least 3-4 times in the coming years), slid more than half to 2.2%, the same as the second estimate from a month ago, and below the consensus Wall Street estimate of 2.4%.

 
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