More than six years into Dear Leader’s glorious economic recovery, 45.5 million Americans, or one in seven, remain on food stamps. We'd say that’s a problem, but we don’t want to be accused of “peddling economic fiction.”
On January 21st, George Soros, who has throughout his life been passionately opposed not just to communism but also to Russia, finally stated that the United States (and possibly the EU, but he says that the EU is in terrible economic shape itself) must now fund a new Marshall Plan for all of Europe, including, this time, even his bête noire: Russia. However, is he ending, or merely suspending, his lifelong war against Russia?
Critics of today’s fiat currency/fractional reserve banking world have (for what seems like forever) made the common sense point that when debt rises faster than cash flow, bad things are bound to happen. In every cycle since 1980 this has been dismissed by the vast majority who benefit from inflating bubbles - until the bubble bursts. And here we go again.
In the most blatant and open admission of direct manipulation, China's Vice President Li told a room full of Davosian elites that China is willing to keep intervening in the stock market to make sure that a few speculators don’t benefit at the expense of regular investors. Following last night's largest liquidty injection in over 3 years (and subsequent plunge in Chinese stocks), it appears the Chinese economic/market "bucket" has more holes than the intervention 'hose pipe' can handle.
"Shorter-term traders will feel that many moves have gone a long way very quickly and hence appear ripe for a brief rebound. The catalyst is that, in the height of a market panic, prices can become dislocated from fundamental valuations, as margin stops get triggered and “weaker” positions get cleaned out. The counter-argument is that distortions caused by the extraordinary monetary policies of global central banks mean markets might have been disconnected from traditional fundamentals for several years."
"... On 12 December 2015, the Company was notified by the local public security bureau that the Truck was found but not the Lost Documents. As at the date of this announcement, although the possibility of finding the Lost Documents is not high, the Group has nonetheless deployed all possible resources in search of the Lost Documents."
Santa Rally Lifts Global Stocks For Third Day: Will Volumeless Levitation Push The S&P Green For 2015?Submitted by Tyler Durden on 12/23/2015 06:55 -0500
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.
The basic policy-difference on Syria has been between U.S. President Barack Obama’s insistence that Syria’s legal President must be ousted before any peace-process starts, versus Russian President Vladimir Putin’s insistence that no foreign power possesses the right to determine whom the leader of Syria or any other country will or won’t be - only the residents there do, via free and fair democratic elections. Putin proposes an internationally monitored and verified election in Syria to determine the identity of Syria’s President; Obama has rejected that proposal - until now.
The arrests or investigations targeting the finance industry in the aftermath of China’s summer market crash have intensified in recent weeks according to Bloomberg, creating a climate of fear among China’s finance firms and chilling their investment strategies. As one professor of Chinese economy noted, "some in the political leadership sought to find scapegoats to blame" for the market crash which along with massive intervention "created uncertainty and anxiety that can only undermine the effort to make these markets work better."
Global Stocks Tread Water After Two Consecutive Terrorist Scares; Oil Rises, Industrial Metals TumbleSubmitted by Tyler Durden on 11/18/2015 07:03 -0500
If this weekend's gruesome terrorist attack on Paris ended up being hugely bullish for stocks, then two subsequent events, a stadium-evacuation scare in Hannover (where Angela Merkel was supposed to be present) and a raid in north Paris which left several dead in the ongoing manhunt against the alleged ISIS mastermind, appear to have but some question into if not stocks then algos whether a rising wave of terrorist hatred across Europe is truly what central bankers need to unleash more QE. That said, we expect the current weakness to last only until the traditional USDJPY carry ramp pushes stocks traditionally higher.
Between 1989 and 2010, U.S. attorneys seized an estimated $12.6 billion in asset forfeiture cases. The growth rate during that time averaged +19.4% annually. By 2014, that number had ballooned to roughly $4.5 billion for the year. Now, according to the FBI, the total amount of goods stolen by criminals in 2014 burglary offenses suffered an estimated $3.9 billion in property losses. This means that the police are now taking more assets than the criminals.
If you think you're having a bad day (amid the post-payrolls turmoil), consider "America's richest woman" Christy Walton - the widow of Wal-Mart's John Walton. According to newly-released documents, her $32 billion wealth is actually around $5bn (as the assumption that John passed on the bulk of his wealth to his wife was wrong) plunging from 18th richest person in the world to just 280th. However, today biggest winner is her son, Lukas Walton who vaults to 103rd richest in the world as his fortune is revealed at $11 billion. Now those are first-world problems...
When it comes to the Fed's current "data dependent" thinking there is absolutely no agreement among the experts: it may or may not hike in December, or it may or may not hike in the 2016 election year. There is, however, much agreement that what the Fed is doing can best be summarized with two simple words: "policy mistake" as the following chart showing the appearance of these two words in Bloomberg news stories confirms.
Italian Central Bank Chief (And ECB Council Member) Probed Over Corruption, Fraud, & Abuse Of OfficeSubmitted by Tyler Durden on 10/21/2015 07:43 -0500
As the world places its 'life' in the hands of a few unelected members of ivory tower trusting them to centrally plan the global utopia, that faith may be shattered by Bank of Italy Governor Ignazio Visco. As Bloomberg reports, Visco and seven other people were place under investigation according to chief prosecutor. While the statement does not list allegations, court documents reveal alleged corruption, fraud, and abuse of office.
"In the West, they talk about ‘moderate opposition,’ but we so far haven’t seen any in Syria. Any person who takes up arms and fights the legal authorities, how moderate can he be?"