• Tim Knight from...
    12/21/2014 - 09:37
    The five remaining equity bears on Earth are all saying the same thing: "We'll get 'em in 2015." To which I ask: why? What's going to change?

Corruption

Tyler Durden's picture

Frontrunning: September 29





  • This is why the locals are furious at the US: U.S-led raids hit grain silos in Syria, kill workers (Reuters) explaining this
  • Billions Fly Out the Door at Pimco: About $10 Billion Is Withdrawn After Departure of Gross (WSJ)
  • Pimco’s Ivascyn Takes on Gross With Unconstrained Fund (BBG)
  • Revealed - the Troika threats to bankrupt Ireland (The Independent)
  • Private Bad Debt Build-Up Casts Shadow on Greek Rebound (BBG)
  • Fed Questions Bank Maneuver to Reduce Hedge Funds' Dividend Taxes (WSJ)
  • Yuan-Euro Direct Trading Begins Tomorrow as China Promotes Usage (BBG)
  • Geneva Report warns record debt and slow growth point to crisis (FT)
  • Greenberg Team to Grill Bernanke, Geithner on AIG Bailout (BBG)... sadly only metaphorically
 
Tyler Durden's picture

Eric Holder Is Resigning





And now, for the best news of the day, we go to NPR which reports that Eric "Too Big To Prosecute" Holder is resigning. From NPR: "Eric Holder Jr., the nation's first black U.S. attorney general, is preparing to announce his resignation Thursday after a tumultuous tenure marked by civil rights advances, national security threats, reforms to the criminal justice system and five and a half years of fights with Republicans in Congress."

 
Tyler Durden's picture

Bread, Circuses, & Bombs - Decline Of The American Empire





History may not repeat exactly because technology, resource discoveries, and political dynamics change the nature of society, but it does rhyme because the human foibles of greed, lust for power, arrogance, and desire for conquest do not vary across the ages. The corruption, arrogance, hubris, currency debasement, materialism, imperialism, and civic decay that led to the ultimate downfall of the Roman Empire is being repeated on an even far greater scale today as the American Empire flames out after only two centuries. The pillars of western society are crumbling under the sustained pressure of an immense mountain of debt, created by crooked bankers and utilized by corrupt politicians to sustain and expand their welfare/warfare state. Recklessness, myopia, greed, willful ignorance, and selfish disregard for unborn generations are the earmarks of decline in this modern day empire of debt, delusion and decay.

 
Tyler Durden's picture

They Do Ring A Bell At The Top: Alibaba Proves Wall Street Is Off Its Rocker





So with regards to BABA’s $230 billion market cap at week’s end, you can say this: None dare call it price discovery! What it shows is that Wall Street is well and truly off it rocker. The Chinese swindlers behind BABA didn’t even have to tap their home market. These preposterously over-valued shares were sold overwhelmingly to Wall Street - to the gamblers, speculators and robo-traders that have occupied what was once a reasonably honest capital market. So why did Wall Street capitalize an opaque mass merchant operating in a precarious economy at 27X sales?  The answer is that Wall Street is a momentum driven casino that is now over-valuing everything that moves and all that stands still. That’s the ultimate evil of monetary central planning. Having destroyed honest price discovery in the financial markets, the Fed now “accommodates” the speculators one meeting at a time - in deathly fear of a hissy fit.

 
Tyler Durden's picture

Frontrunning: September 22





  • Quid pro quo Clarice: Iran seeks give and take on Islamic State militants, nuclear program (Reuters)
  • Alibaba’s Banks Said to Boost IPO Size to Record $25 Billion (BBG)
  • European Stocks Fall Amid China Concern as Tesco Slides (BBG)
  • Tesco Suspends Executives, Probes Error That Triggers New Profit Warning (WSJ)
  • Kurds say they have halted Islamic State advance on Syrian town (Reuters)
  • Because luck and managing money is genetic: Financial Elite's Offspring Start Their Own Hedge Funds (WSJ)
  • Islamic State Onslaught Spurs Mass Exodus of Syrian Kurds (BBG)
  • Rockefellers, Heirs to an Oil Fortune, Will Divest Charity From Fossil Fuels (NYT)
 
Tyler Durden's picture

ISIS Slams "Mule Of The Jews" Obama, Demands Killing Of "Disbelievers" Especially "Filthy French"





Having released the Turkish hostages, because "Turkey refused to agree to the US demand for 'active support of the coalition'," ISIS have come out swinging (in its first 'official' statement since President Obama unveiled his 'strategy' for "degrading and destroying" them), with a call for all followers of Allah to make the coalition campaign the "last crusader campaign," and calls Obama "vile", more foolish than Bush, and a "mule of the Jews." Warning Americans and Europeans that "you will pay a great price, when your economies collapse," ISIS blasts Kerry, "the uncircumcised old geezer," for his "false arguments." The statement concludes by telling ISIS followers, "if you can kill a disbelieving American or European - especially the spiteful and filthy French - or an Australian, or a Canadian, or any other disbeliever from the disbelievers waging war, including the citizens of the countries that entered into a coalition against the Islamic State, then rely upon Allah, and kill him in any manner or way however it may be."

 
Tyler Durden's picture

When War Erupts Patriots Will Be Accused Of Aiding "The Enemy"





In modern times, war is never what it seems. Mainstream historians preach endlessly about grand conflicts over territory, resources, political impasse, and revenge, but the cold hard reality is that all of these “motivations” are actually secondary, if they are relevant at all. If you really want to understand the past, or the intricacies of war, you will be lost unless you accept that most conflicts are designed; they are not random or natural. They are not the product of too much national sovereignty or individual liberty. No; traditional war is a tool for the organized ruling class. It always has been and always will be.

 
Tyler Durden's picture

White House Explains Where Your $1.3 Billion Went In Ukraine





Just minutes after Poroshenko's fearmongering speech to US Congress (and in the face of a collapsing Ukraine economy), The White House has released its "fact sheet" to explain exactly how committed (aside from the lethal aid demands - which may or may not be happening as we noted here) to supprting Ukraine the US taxpayer is... On top of guaranteeing $1 billion of Ukraine's debt, a further $291 million in 'assistance' has been flooded in... here's what for...

 
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South African Rand Tumbles To 7-Month Lows As Central Bank Governor Steps Down





In a surprise for the market, South Africa's Reserve Bank chief Gill Marcus has announced she will not be available for another term when her contract is up in November. On the heels of an expected decision to leave rates unchanged, this has sent the Rand tumbling to its lowest since February. While Marcus exporessed every confidence in her successor, it appears the market is less confident (for now). Forget the economy, sell ZAR because the true leader of the nation's wealth is to step down...

 
Tyler Durden's picture

Economic Policy Treats Symptoms, Not Underlying Causes





The economy we have now is like a mental patient, drugged up with so many antidepressants, antipsychotics, and mood stabilizers that the root of his problems has become undetectable. It sounds Utopian, but economic growth really is a panacea that improves standards of living for everyone in nearly every way. But instead of pursuing economic growth, the government wastes its time with piecemeal patches, trying to plug a hole whose cause remains unabated.

 
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Re-Authorizing Ex-Im Bank (Or The Easiest Way To Make A 500x Return On Investment)





What’s the easiest way to make a 500x return on investment?

 
Cognitive Dissonance's picture

9/11 - The Ultimate Litmus Test





If nothing else we have learned it doesn’t matter how obvious the lie is if people don’t want to know the truth.

 

 
Tyler Durden's picture

How The China Boom Unravels: One Person At A Time





The dashing of youthful expectations of open-ended wealth and security for everyone with a college degree is highly combustible when combined with a popping real estate bubble, systemic corruption, the implosion of a shadow banking credit bubble and the impending global recession.

 
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