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Tyler Durden's picture

"Christmas Is Dead" Hyperinflated Venezuelans Face Holiday Without Lights, Food, & Hope





In 2013, Maduro’s first year in office, the government released a Christmas carol praising the Socialist utopia's dictator. Last year, Maduro debuted a “socialist Barbie” that almost bankrupted stores forced to sell it after the government forced the price down to a tenth of its value. And this year, as AFP reports, "Christmas is dead, there is not enough money," according to one resident, noting there is no Christmas decor anywhere and people do not have enough money to buy presents. Some cannot even afford the basic goods needed to put together a traditional feast of roast pork and assorted sides.

 
Tyler Durden's picture

Why 'The Regime' Hates Gold





There’s only one investment we can think of that many people either love or hate reflexively, almost without regard to market performance: gold. And, to a lesser degree, silver. It’s strange that these two metals provoke such powerful psychological reactions - especially among people who dislike them. Nobody has an instinctive hatred of iron, copper, aluminum, or cobalt. The reason, of course, is that the main use of gold has always been as money. And people have strong feelings about money. From an economic viewpoint, however, money is just a medium of exchange and a store of value. Efforts to turn it into a political football invariably are signs of a hidden agenda, or perhaps a psychological aberration. So, let’s take some recent statements, assertions, and opinions that have been promulgated in the media and analyze them.

 
Phoenix Capital Research's picture

During the Next Crisis, Central Banking Itself Will Fail





The situation is clear: the 2008 Crisis was the warm up. The next Crisis will be THE REAL Crisis. The Crisis in which Central Banking itself will fail.

 
 
Tyler Durden's picture

Stock Buybacks In Jeopardy: Investment Grade Bond Funds See Biggest Outflow In 17 Weeks





There has been a "continued shunning of fixed income" with over $25 Bn of outflows from bond funds in three weeks, of which $6.4 Bn took place in the past week, resulting in outflows in 6 of past 7 weeks.However, the biggest outflow risk is not to Junk but to investment grade, that main funding source for trillions in corporate stock buybacks: it was the IG space that took another beating with largest outflows ($3.5bn) in 17 weeks!

 
Tyler Durden's picture

The Dollar Shortage Has Arrived: Africa Runs Out Of Dollars





In an unexpected turn of events, the disappearance of not just synthetic but very physical dollars has hit one region much harder and much faster than we expected. Africa.

 
Tyler Durden's picture

Santa Rally Lifts Global Stocks For Third Day: Will Volumeless Levitation Push The S&P Green For 2015?





With just a handful of trading sessions left in the year, this is how the major global markets look as 2015 is about to close. As of this moment, and in keeping with the Christmas spirit, the biggest question is whether the S&P500 will close green or red for the year.

 
Tyler Durden's picture

Something Just Snapped In China





While Sweden is over-flowing with excess cash on bank balance sheets, it appears that banks in Hong Kong are desperate to borrow Yuan (or scared to lend) as overnight HIBOR just exploded higher to 9.45% - a record for the interbank offered rate. The HKD and CNY/CNH FX markets remain relatively stable (with Yuan fixed marginally higher again for the 3rd day). The last time 1-week HIBOR rates spiked like this, US equity markets crashed on Black Monday.

 
Tyler Durden's picture

How Would World Markets Respond To 4% Chinese GDP Growth? UBS Explains "The Dragon's Tail"





"The most important channel through which the Dragon's Tail scenario can affect other markets is trade, although financial linkages and market contagion could also have a significant impact on some markets and asset prices."

 
Tyler Durden's picture

Increasingly Durable Correlations





There are a few correlations that we find particularly compelling...

 
Tyler Durden's picture

Slammed By Redemption Requests, These Hedge Funds Raise "Gates" To Avoid Firesale Liquidations





Needless to say, these names are just the beginning: once the redemptions - and gating - genie is out of the bottle, there is no putting it back.

 
Tyler Durden's picture

The Keynesian Recovery Meme Is About To Get Mugged, Part 1





Since our Keynesian central bankers have no clue that their prodigious money printing resulted in the drastic underpricing of credit and capital over the course of the past two decades, they are flying blind. They simply fail to see that the global economy is now swamped in more excess capacity than at any time since the 1930s, and probably even then. So they keep expecting the commodity cycle to momentarily bottom and prices to rebound, thereby reflating CapEx and household spending.

 
Tyler Durden's picture

US Economy Grew At 2.0% In Final Q3 Estimate; Massive Inventory Overhang A Key Risk For Future Growth





In today's anticlimatic economic print of the day, moments ago the BEA reported that Q3 GDP declined from 2.1% as per the first revision reported a month ago to 1.97%, fractionally higher than the 1.9% expected, as a result of a modest decline in Personal Consumption Expenditures as well as Private Inventories and Net Trade, offset by a fractional pick up in Fixed Investment, a category which will see far more downside in the quarters to come unless oil prices rebound, and the smallest possible increase in government spending.

 
Tyler Durden's picture

Futures Rise, Drop, Then Rise Again In Illiquid Session After China Promises More Stimulus





It has been a seesaw session with U.S. stock index futures following their dramatic buying burst in the last half hour of market trading yesterday by first rising, then falling, then rising again alongside European equities both driven almost tick for tick with even the smallest move in the carry trade of choice, the USDJPY, even as Asian shares trade near intraday highs after China’s leaders signaled they will take further steps to support growth.

 
Gold Standard Institute's picture

Janet Yellen Fights the Tide of Falling Interest





On Dec 16, Federal Chair Janet Yellen announced the Fed was raising the federal funds rate by 25 basis points. She will have to take it back.

 
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