CRAP

williambanzai7's picture

OBaMa CRaP…THaT IS WHaT You CaLL A DeLiBeRaTe DeCePTioN





And the flies got wise...

 
Tyler Durden's picture

The "Oh Crap" Moment For Housing Is Now In The Can





Real estate guru Mark Hanson updates his housing view following this week's dismal housing industry data:

Sept. Pending Sales... the largest MoM drop since Sept 2001... not 2011... yes, 2001.

Don't let them tell you 'this is normal for Sept'. The 'oh-crap' moment is now in the can. Going forward, "Existing Sales" volume will disappoint on a YoY basis for several quarters. There is no way around it...

 
Econophile's picture

The Cargo Problem





Why are we so rich and the poor so poor? Econophile takes a look at Kenya as a laboratory of bad ideas and how to fix it.

 
Tyler Durden's picture

Ackman Books Herbalife Losses, Forced To Cover 40% Of Short To Avoid Being "Forced To Cover" Short





It just keeps getting worse and worse for Bill Ackman. A few weeks after the epic humiliation, not to mention even more epic losses, he suffered on his now defunct JCP long position (despite ample warnings by the likes of Zero Hedge who said long ago JCP is merely a melting icecube and fast-track Chapter 11/7 candidate) all those who predicted (such as Zero Hedge back in January) that an epic HLF short squeeze would result in the aftermath of Ackman's Herbalife short announcement leading to Ackman's ultimate capitulation, have been proven correct. Moments ago, in a letter to investors, Bill Ackman just announced that he has covered over 40% of his Herbalife short position, with his forced buy-in explaining the endless move higher in Herbalife stock in recent weeks. The explanation of being forced out of nearly half of his position is amusing: "we minimize the risk of so-called short squeezes or other technical attempts by market manipulators to force us to cover our position." So Ackman is forced out by his Prime Brokers so as not to be forced out by market manipulators? That's an interesting explanation for what is a far simple situation: booking your paper losses.

 

 
Tim Knight from Slope of Hope's picture

Neo-Fashism





I have never been fashionable enough to conjure up surely one of the silliest startup ideas with, bar none, the worst name of all time: Fashism. I only know of this site because I read about its demise yesterday. Evidently Ashton Kutcher (who, for reasons wholly alien to me, is heralded as some kind of tech-savant investing genius) put $1 million into this dog.

 
Capitalist Exploits's picture

I've Got Nothing to Hide





Regardless of what I (or you) do throughout the day we're tracked, logged, profiled and otherwise "identified" in a hundred different ways.

 
Tyler Durden's picture

Europe Passes The Inflection Point (Or Why LTRO3 Is Inevitable)





One year on from the "whatever it takes" speech and all appearances suggest Draghi's all-in move with the imaginary OMT 'worked. European sovereign spreads have compressed dramatically, European stock indices are near their highs, European financials are doing great. Of course, record unemployment rates, record loan delinquencies, record drops in house prices, and record deposit outflows can all be ignored because no matter what, Draghi will do "whatever it takes." Except, as JPMorgan notes, the excess cash in the Euro area banking system continues to decline reaching EUR230bn, closer to the so-called inflection point at which money market rates, i.e. EONIA and repo rates, are responding more pronouncedly to changes in the excess cash. Bank funding is becoming increasingly volatile since the 2nd LTRO repayment and the trend shows no sign of abating. We suggest Mrs. Merkel will be on the phone telling Mr. Draghi to "get back to work," - at least until September 23rd anyway.

 
Tyler Durden's picture

Hilsenrath Ramp Vs Hindenburg Omen; Dow Ends 'Unch' Amid USD Crunch





Stocks ended the day at the highs of the day with small gains as the internal anxiety implied (highs vs lows, adv vs dec) by the re-appearance of the Hindenburg Omen battled (Icahn vs Ackman-like) with the one-way-street predictability of a Hilsenrath-inspired 330RAMP Capital appearance. Hilsy's "no July Taper" un-surprise-note added 7 points to the S&P lifting it comfortably green (and knocked 5bps off Treasury yields). Trannies bounced hard after dropping to unchanged from the 6/19 FOMC levels (+1.4% from the lows) and along with the Dow ended the day practically unchanged. The Russell just kept on rising (+1%) as stocks ended the day at their highs. Despite the volatility (and close-to-close stability) in stocks, FX markets were the main movers today (and high-yield bonds) as EURUSD pushed back up to pre-FOMC 'Taper' levels from 6/19.

 
Tyler Durden's picture

Guest Post: Trying To Stay Sane In An Insane World - Part 1





Facts are treasonous and dangerous in an empire of lies, fraud and propaganda. It is maddening to watch the country spiral downward, driven to ruin by a psychotic predator class, while the plebs choose to remain willfully ignorant of reality and distracted by their lust for cheap Chinese crap and addicted to the cult of techno-narcissism. We are a country running on heaping doses of cognitive dissonance and normalcy bias, an irrational belief in our national exceptionalism, an absurd trust in the same banking class that destroyed the finances of the country, and a delusionary belief that with just another trillion dollars of debt we’ll be back on the exponential growth track. The American empire has been built on a foundation of cheap easily accessible oil, cheap easily accessible credit, the most powerful military machine in human history, and the purposeful transformation of citizens into consumers through the use of relentless media propaganda and a persistent decades long dumbing down of the masses through the government education system. This national insanity is not a new phenomenon. Friedrich Nietzsche observed the same spectacle in the 19th century: “In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule.”

 
Tyler Durden's picture

Golden Age For Smartphones Ends As Upgrade Rates Tumble





The recent attempt by AT&T to expand into the smartphone leasing business company in order to encourage customers to upgrade their equipment more frequently only confirms something that most industry observers have suspected for a long time: end customers have finally had it with annual (or even biannual) cell phone updates. And now we have proof. According to the WSJ, fewer people are upgrading their smartphones: "The rates at which American cellphone users have traded in their devices for more advanced models have declined over the last few years, according to analysts at UBS. They turned negative last year, when about 68 million people upgraded their phones in the U.S., down more than 9% from a year earlier." That was the first year in the past decade in which the turnover rate was below 0%. Sadly for Apple, Samsung and their competitors, 2013 is not shaping up any better: "UBS predicts upgrades will fall again this year."

 
Tyler Durden's picture

10 Things Most Americans Don't Know About America





In an effort to soften the blow to our American readers, here is an analogy: You know when you move out of your parents’ house and live on your own, how you start hanging out with your friends’ families and you realize that actually, your family was a little screwed up? Stuff you always assumed was normal your entire childhood, it turns out was pretty weird and may have actually screwed you up a little bit. The point is we don’t really get perspective on what’s close to us until we spend time away from it. Just like you didn’t realize the weird quirks and nuances of your family until you left and spent time with others, the same is true for country and culture. You often don’t see what’s messed up about your country and culture until you step outside of it. And to our foreign readers, get your necks ready, because this is going to be a nod-a-thon.

 
EconMatters's picture

Even Oil Executives Know Oil Prices are Too High!





It is obvious that the oil market is out of touch with the fundamentals.  But this is just my analysis, let`s hear what Oil industry executives believe.

 
EconMatters's picture

Gasoline Futures Market Rises 45 Cents in 10 Days





Gasoline RBOB price moves are ridiculous.  RBOB closes Friday above 40 cents from the price on July 1st without any major news like 5 refiners exploding, or a major hurricane...

 
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