Federal Reserve

Tyler Durden's picture

3 Things: Retail Sales, Real Unemployment, Optimism





Over the past several weeks we have heard repeated comments that you should ignore the recent retail sales weakness for a variety of reasons such as cold winter weather, consumers don't believe the drop in gas prices, etc. Putting aside the fact that cold weather almost always occurs during winter (which is why the data is seasonally adjusted to begin with), or that more than 70% of Americans are living paycheck-to-paycheck, should we dismiss the data entirely?

 
Tyler Durden's picture

Citigroup's Gold "Expert" Demands A Cash Ban





Late last year, Grexit "expert" Willem Buiter decided that he was a greater expert on the topic of monetary metals than on geopolitics by stating that "Gold Is A 6,000 Year Old Bubble." Now, he has decided that after gold, it is best to just do away with any physical currency altogether and the time to ban cash has arrived.

 
Tyler Durden's picture

Citadel Head Bond Trader (And TBAC Member) "Leaves" After Losing $1 Billion





It is almost too coincidental to be a coincidence: on the day Ben Bernanke, who until a year ago was the biggest fixed income portfolio manager in the world courtesy of the Fed's $4.5 trillion in assets, joins Citadel as an advisor, the massively levered "market-neutral" hedge fund which as we showed earlier has $176 billion in regulatory assets, "loses" its global head of fixed income, senior managing director Derek Kaufman. Well not exactly loses. The reason for his "voluntary" departure: according to Bloomberg Kaufman is leaving Citadel not because he is about to be replaced by the former Fed chairman but because last year he lost $1 billion "in a variety of trades."

 
Tyler Durden's picture

Proof That The US Peaked During Ronald Reagan's Presidency





On March 16, 1936, the government of the United States published the very first edition of the Federal Register - which would contain a complete set of every rule, regulation, code, and proposal issued by each of the executive agencies. The first edition was sixteen pages. Every single work day since then, without fail, the government has published the Federal Register. President Obama has averaged nearly 80,000 pages per year, far and away the highest of any President in US history. We've seen this theme countless times throughout history.

 
Tyler Durden's picture

America, Meet Your Brand New Largest Foreign Creditor





Exactly one month ago we wrote that "Japan Ties China As America's Largest Creditor" when, according to Treasury International Capital in the month of January, China sold just over $5 billion in Treasurys while Japan bought $8 billion in US paper. Fast forward to today when we are pleased to announce that, as expected, the trend has continued and for the first time since the great financial crisis, Japan is once again America's largest foreign credito.

 
octafinance's picture

Stanley Druckenmiller Bullish Chinese Equities And Oil And Doesn’t Expect Rate Cut Anytime Soon





Stanley Druckenmiller, the man who achieved the impossible 30%+ annualized returns during more than 30-years period active trading career just gave an interview and shared his market views.

 
Tyler Durden's picture

NY Fed's "Plunge Protection Team" Starts Chicago Trading Floor "In Case Of Disaster Or Other Eventuality"





We have known for quite some time now that the NY Fed's market group, aka the Plunge Protection Team, is opening a second office in HFT-capital Chicago. What was not known is what is the official reasoning behind the Fed's move to be even closer to its Citadel executions arm. Overnight, courtesy of Reuters we found that the "The New York branch of the U.S. Federal Reserve, wary that a natural disaster or other eventuality could shut down its market operations as it approaches an interest rate hike, has added staff and bulked up its satellite office in Chicago."

 
Tyler Durden's picture

The Changing World of Work 3: "Full-Stack" Skills





 

Opportunity, liberty and risk are not divisible. We either grasp the nettle of creating value or we devolve to wistful pining for what is irrevocably in the past
 
GoldCore's picture

Martin Armstrong - Gold Bullion To “Max Out At $5,000 Per Ounce”





* Fall 2015 turning point - civil unrest and riots globally says forecaster Armstrong
* European banks will collapse and “blood in the streets”
Advocates diversification and holding bullion coins familiar to public such as $20 gold coins
* “Your portfolio has got to include everything … including bullion”

 
Tyler Durden's picture

The Changing World Of Work 2: Financialization = Insecurity





The Millennial Generation, if we're to believe various polls, aspires to either make boatloads of money on Wall Street, or secure a can't-be-fired job in the government. Given the dominance of finance and an economic backdrop of rising insecurity, these are rational choices. But all those Millennials hoping to work for Goldman Sachs does raise a question: when did playing financial games become so much more profitable than producing goods and services?

 

 
Tyler Durden's picture

When The Supreme Court Stopped Economic Fascism In America





In spite of the landmark decision 80 years ago against the imposition of economic fascism in America, the U.S. government has continued to grow in power over the American people. But it should be remembered that men of courage, integrity, and principle can stand up to Big Brother and resist the headlong march into economic tyranny. That unanimous Supreme Court decision in 1935 was one bright example of it.

 
Tyler Durden's picture

Will the New Banking Proposals In Iceland Save It From Economic Instability?





The central bank-controlled 100% reserve system of sovereign money will indeed mitigate much of the fluctuations associated with modern day fractional-reserve banking. However, it is not a panacea against systemic distortions of economy. Centralizing any power, especially one as important as the creation of money, will inevitably lead to cronyism. And while perhaps less likely to occur than under the current system, there still will exist a risk government manipulation of credit markets which will lead to the business cycle.

 
Tyler Durden's picture

The Cost of Being A Bear Is Soaring: Demand Or Supply?





Think the market is overvalued? Believe US equities are artificially propped up by corporate buyback plunge protection? Wonder if a complete disconnect between stocks and economic fundamentals portends troubled waters ahead? Well, it will cost you to express your opinion via long puts, because as Bloomberg reports, S&P index downside protection is now the most expensive it's ever been relative to long calls.

 
Tyler Durden's picture

Blinder Leading The Blind





Princeton University and former vice chairman of the Federal Reserve Alan Blinder unleashes his self-serving smorgasbord of Fed apologism in today's WSJ Op-Ed. The Fed should be patient-er for longer, he explains; and as far as the "loudly and frequently worried 'impatience crowd'," Blinder states, fears of policy "causing financial-market 'distortions' and bubbles might burst, causing untold damage to our economy," can apparently be ignored because, as he explains "none of the hypothesized financial hazards have surfaced." So - because we haven't crashed yet... policy is right - "This is a time to be patient."

 
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