The Economist

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The Economist Calls Victory For "No" Camp: Sees 60% Voting "Oxi"





 
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America Is Its Own Worst Enemy - Trapped In Irrational Exuberance





Yes, the clock’s ticking louder, louder, warns the Economist, “only a matter of time before the next recession strikes.” Unfortunately, the “rich world is not ready.” America’s not prepared. You are not ready.

 
Sprott Money's picture

Bankrupt Governments and Negative Interest Rates





Watching as bankrupt (Western) governments pay near-zero or even negative rates of interest on their debts, we see a financial fraud and sham of unparalleled dimensions in the history of our nations. However, when these same regimes inflict these fraudulent interest rates on “savers” (i.e. their own populations), while double-digit inflation rages all around us, this is nothing less than a crime against humanity – with even worse crimes still to come.

 
Tyler Durden's picture

Corporations Win Again: Senate Passes Obamatrade Fast-Track Bill





Ten days ago it seemed as if America's corporatism would finally be slowed in its tracks after the House unexpectedly killed the fast-tracking of Obamatrade, aka the fast-tracking of the Trade Promotion Authority. Alas, it was not to last, and moments ago, in a "nailbiting" 60-37 vote, the Senate advanced Obama's fast-track tarde bill.

 
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White House Lies (Again): Jonathan "Stupidity Of The American People" Gruber Called "Our Hero"





President Barack Obama in 2014 said Mr. Gruber was “some adviser who never worked on our staff.” And then there's this:

“Thank you for being an integral part of getting us to this historic moment,” according to Sept. 9, 2009 email to Mr. Gruber from Jeanne Lambrew, a top Obama administration health adviser who worked at HHS and the White House. In a November 2009 email, she called Mr. Gruber “our hero.”

 
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How Urban Homeowners Rigged The Housing Market And Killed GDP Growth





The phenomenon of homeowners objecting to new development is called NIMBYism, which stands for "Not In My Back Yard." The premise behind this is that homeowners don't want to risk any changes that could adversely affect their living space or the value of their property. However, it's easy to see another motive behind NIMBYism: greed. As an investor of a highly leveraged asset, the average homeowner has every reason to inflate the price of their home as much as they can. NIMBYism also contributes to inequality... and perpetuates the two-class society that we see today.

 
Tyler Durden's picture

With The Spread Between CPI And PCE Blowing Out The Most Since 2009, Is The Fed Making A Big Mistake





With a small possibility that later today the Fed may hike rates for the first time in nearly a decade, and if not today then in 65 days (per the Bank of America countdown to the repeat of the "Ghost of 1937") at the September 17 meeting on which consensus has congregated as the historic rate hike day, there is one particular chart that if not readers, then certainly the Fed, should focus on: the near historic difference between the two primary inflation measures, core CPI and the Fed's preferred, core PCE which is now at the lowest level since the financial crisis.

 
Tyler Durden's picture

The Fed And Most Economists Are Nothing More Than Glorified Weather Rock Analysts





The issue at hand is: far more people have discovered whether by chance or direct analysis of their own, both the Fed., as well as their gaggle of cohorts throughout academia, as well as in the financial media, are all watching and gaining their clues – from the same “rock.” Furthermore: It’s now self-evident to anyone willing to look. It’s not to see if the rock is wet, dry, or anything else. It’s to make the rock wet, dry, or anything else needed for the narrative. Because today; narrative trumps reality in today’s economic disciplines.

 
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Meet The Participants Of This Year's Bilderberg Conference





From Greek lobbyists to Silicon Valley VCs and from Goldman BSDs to FT reporters, The Bilderberg Group will meet later this week in Tirol to discuss what happens next to the rest of the world... here are the participants...

 
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European Stocks Suffer Longest Losing Stretch In 2015; US Futures Down





After a quiet Asian session, where not even the latest Chinese CPI miss was enough to push the SHCOMP to new multi-year highs, all eyes were on Europe where a few hours ago the European Commission announced it had received not one but two new proposals from Greece with the Greek government adding that it considers proposals submitted last week as remain basis for political negotiations. However, barely had Europe received the Greek addenda when it nein'ed all over them, with BBG citing an international official directly involved in talks saying that the "Greek government's revised proposal to unlock bailout funds is vague rehash of earlier plans, not considered credible."

 
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How FIFA Makes (And Spends) Its Money





Following today's "successful" vote confirming Sepp Blatter's 5th term running the farce called FIFA, and amid soccer's governing body being investigated by US and Swiss authorities over claims of corruption, we thought a summary of just where the money comes from and (apart from the $150 million in bribes and kickbacks to 14 executives) where it goes for the Swiss-based entity...

 
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Frontrunning: May 29





  • Former House Speaker Hastert indicted on federal charges (Reuters)
  • Blatter expected to win re-election despite soccer corruption scandal (Reuters)
  • NYSE Looks to Ease Late-Day Pileup (WSJ)
  • What Will Happen to a Generation of Wall Street Traders Who Have Never Seen a Rate Hike? (BBG)
  • Japan spending slump casts doubt on central bank optimism  (Reuters)
  • Unclear rules, market volatility take toll on bank capital  (Reuters)
  • Greece Told Budget a Red Line for Creditors Venting at G-7 (BBG)
  • The Economist Who Realized How Crazy We Are (Michael Lewis)
  • Pimco Said to Have Considered Goldman’s Cohn for Top Job (BBG)
 
Tyler Durden's picture

Goldman "Solves" The Lack Of Cheap Gas Consumption "Puzzle" - Spending Set To Rise... Just As Gas Prices Surge





According to Goldman, "low gas prices should have boosted Q1 consumption growth by 0.5-1pp, reinforcing the Q1 disappointment. However, the models also imply that only one-fourth to one-half of the eventual consumption impact should have been felt by Q1, suggesting plenty of remaining upside in coming quarters." Here is the one problem with that assumption...

 
Pivotfarm's picture

10 Most Expensive Cities in the World





London’s property market is still hell bent on going crazy as if it has overeaten and become over inflated yet again.

 
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