• Tim Knight from...
    11/26/2014 - 19:43
    I read your post Pity the Sub Genius and agreed with a lot of what you wrote. However you missed what I think is the biggest killer of middle class jobs, and that is technological...

Capital Formation

Tyler Durden's picture

Hugh Hendry Live 3: "To Bet Against China Is To Best Against Central Bank Omnipotence"





In the final part of Hugh Hendry's 3-part (part 1 and part 2 here) interview with MoneyWeek's Merryn Somerset the Sanguine Scot, perhaps surprisingly to some given his previous negativity - though fitting with his world view of fiat currency destruction - believes "to bet against China or Chinese equities, or the Chinese currency is to bet against the omnipotence of central banks. One day that will be the right trade, just not ready or sure that that is the right trade today."

 
Tyler Durden's picture

Is Wall St. Now Just A Form Of Legal Gambling?





The only discernible difference we see from the Wall Street version of a casino it’s now so prominently become, and the one we find on some island or strip is this: At the least, when we have a great winning bet placed on Red or Black... The odds that someone from the house bank coming down to floor and yelling 'Fire' as the wheel is about to stop right on my stop is far, far less than a Central Banker coming out touting 'Well maybe we should or shouldn’t do...' the moment the true free hand of market is about to expose itself. At least at a true casino – they do have some level of integrity.

 
Bruno de Landevoisin's picture

And, so it begins..............





The Doomsday Machine has been unleashed in Tokyo...........

 
Tyler Durden's picture

Unlike Ebola Patients, The Markets After QE Can't Be Quarantined





"Western economies have lost the ability to generate real new wealth of the type that their debt-based monetary systems require for ongoing operations (such as paying interest on old debt). I suspect the subject will force itself on the national consciousness in the year ahead as one company after another in the shale oil regions craps out on a shortage of available investment capital. That’s the inflection point where fake wealth is unmasked for what it really is: crippled capital formation. The disappointment from that looming event will thunder through our society." In the meantime, the distractions are many and powerful.

 
Tyler Durden's picture

Guest Post: Obama The Great, The One True Indispensable Chief Of The NWO





Contrary to the opinion of Obama the Great, The One True Indispensable Chief of the NWO, the three principal threats we currently face are not Ebola, but QE-bola; not the locally disruptive Islamic State but the globally detrimental Interventionist State; and definitely not the Kremlin’s alleged (though highly disputable) revanchism being played out on Europe’s ‘fringe’ but the Kafkaesque reality of stifling and undeniable regulationism at work throughout its length and breadth. We might end by reminding the would-be wearer of the One Ring, as He lurks warily, watching the opinion polls from His lair in the White House, that in being so active in propagating each one of these genuinely existential threats to our common well-being, he will not so much ‘help light the world’ as help extinguish what little light there still remains to us poor, downtrodden masses.

 
Bruno de Landevoisin's picture

Goldman Sachs Moral Compass?





And no, it certainly can not be characterized as doing God's work............................

 
Tyler Durden's picture

What The Fed's "Crystal Ball" Says Is The Reason For The Worst Recovery Ever





"In conclusion, this analysis finds little evidence of the permanent structural damage to the economy’s productive potential that many commentators see as the main culprit for the subpar recovery from the Great Recession..." and Surprise... "our model suggests that monetary policy played an important role in cushioning the blow from the financial crisis and in sustaining the recovery, which could have been significantly more disappointing without the aggressive actions undertaken by the Fed."

 
Tyler Durden's picture

This Is How Italy "Fixes" Its Unsustainable Debt Problem





There is a "hard way" of doing, as in fixing, things and then there is... the European way. Below we show how Italy's debt/GDP for 2013 just was "reduced" by 5% making the country appear far more "sustainable" and attractive to debt investors (the ECB?). As Bloomberg reports, Italy’s 2013 public debt was revised to 127.9% of GDP from a previous estimate of 132.6% of GDP, the country’s statistics agency Istat says in report.

 
Tyler Durden's picture

Lifting The Fog Of Pretense





Glance in the rear-view mirror and say goodbye to the Era of Wishful Thinking. In this weird liminal time since the so-called Crash of 2008 leadership has depended on lies and subterfuges to prop up the illusion of resilience. The lies, frauds, and cons run between the axis of Wall Street and Washington had two fatal consequences with still-lagging effects: 1) They destroyed the capacity for markets to establish the real price of anything - rendering markets useless; 2) They disabled capital formation to the degree that we might not have the money to rebuild an economy to replace the “financialized” matrix of rackets that currently pretends to function. A lot of observers have been waiting for the moment when the fog of pretense lifts and exposes all the broken machinery within. We may be so close now that you can smell it.

 
Tyler Durden's picture

Where Is Russia On The Road To Recreating USSR 2.0?





Given the 2008 Russian invasion of Georgia and escalating conflict between Russia and the Ukraine, JPMorgan asks, where is Russia on the road to recreating something like the Soviet Union as an economic, political and financial counterweight to the West?

 
Bruno de Landevoisin's picture

Visualizing the Vanishing Money Velocity Vortex





Under the imposition of StealthFlation, the Velocity of Money lies dormant while increasing Inflationary risks build below the surface.

 
Tyler Durden's picture

Is The SEC Asking These Hedge Funds Why They All Rushed Into Allergan Last Quarter?





It remains to be seen if frontrunning the general public on collusive, material, non-public information that a strategic would be about to announce a bid for Allergan is indeed "completely lawful", however we do have a question: now that the SEC is formally investigating Ackman for what may be a massive frontrunning scam, is it also looking at all the other hedge funds which reported brand new stakes (some of which also entirely in the form of calls) in Allergan in the second quarter?

 
Bruno de Landevoisin's picture

StealthFlation Defined





Suppresses true money velocity concealing real inflation risk to the economy
 
Bruno de Landevoisin's picture

Cockamamie Casino Capitalism





Are the crafty casino courpiers finally cashing out their cronies' comped chips at the crooked capitlaism craps tables?

 
Tyler Durden's picture

Flash Boys' Katsuyama Blasts Back At Ex-CFTC Chilton's "Incorrect Claims"





On July 7, Bart Chilton, a former commissioner of the Commodity Futures Trading Commission, wrote an article about high-frequency trading for the New York Times's DealBook. He argued, in effect, that because high-frequency trading has become so central to the stock market, it must be serving some necessary purpose. This is false...

 
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