Gross Domestic Product

Tyler Durden's picture

Janet Yellen Explains How Everything Is Awesome (But Not Awesome Enough) - Live Feed





"It will be appropriate at some point this year...to raise the Fed funds rate and normalize monetary policy," Yellen recently explained but given recent comments from Fed heads and the FOMC Minutes, it appears the real meme is "everything is awesome, we promise and as long as it stays that way we will hike rates just a little bit, stand back and watch the implosion, then stand ready to step back in to save the world... oh, and if Greece, China, US Shale, or LatAm blow up contagiously, we won't normalize policy ever again." Yellen speaks on the US economic outlook at The City Club of Cleveland.

 
Tyler Durden's picture

Frontrunning: July 10





  • Fed Chair Yellen To Speak As Global Tensions Rise (WSJ)
  • Greek PM Tsipras seeks party backing after abrupt concessions (Reuters)
  • France Hails Greek Aid Proposals as Germany Reserves Judgment (BBG)
  • Greek PM says does not have mandate to exit eurozone (Reuters)
  • France Intercedes on Greece’s Behalf to Try to Hold Eurozone Together (WSJ)
  • Frozen Funds, Fleeing Tourists: Greek Startups Feel the Pinch (BBG)
  • Doubts Simmer Despite China’s Gain (WSJ)
 
Tyler Durden's picture

Surprise! CEOs Are Getting Rich By Buying Back Stock





For corporate management teams it’s all about instant gratification these days and if you needed proof that US equity markets have become the preferred channel for transferring debt sale proceeds directly into the pockets of top management, Bloomberg has all the evidence you need.

 
Tyler Durden's picture

This Is Why The Euro Is Finished





It’s simple, the euro is finished. It won’t survive the unmitigated scandal that Greece has become. Greece is not the victim of its own profligacy, it’s the victim of a structure that makes it possible to unload the losses of the big countries’ failing financial systems onto the shoulders of the smaller. There’s no way Greece could win. The damned lies and liars and statistics that come with all this are merely the cherry on the euro cake. It’s done. Stick a fork in it. The smaller, poorer, countries in the eurozone need to get out while they can, and as fast as they can, or they will find themselves saddled with ever more losses of the richer nations as the euro falls apart. The structure guarantees it.

 
Tyler Durden's picture

With Sweden's QE Officially Broken, The Riksbank Doubles Down: Lowers Rates Even More Negative; Boosts QE





Overnight the Riksbank confirmed that it neither learns from its own mistakes, nor reads BIS reports when at 9:30 CET, it shocked central bank watcher all of whom were expecting no rate change from the bank, and announced it is not only engaging in yet another rate cut, taking the key rate even further into record NIRP territory, from -0.25% to -0.35% but adding insult to broken QE injury, it would expand its QE by a further SEK 45 billion starting in September. The reason? Sweden is realizing it is losing the currency war (to a great extent due to its failed QE which is pushing bond yields higher and with it, its currency) and it needs to soak up even more collateral... which can barely be found.

 
Tyler Durden's picture

Beggar Thy Neighbor? Greece's Battered Banks Beget Balkan Jitters





"Millions of people in ex-Communist Bulgaria, Macedonia, Albania, Serbia and Romania have deposits in banks owned by Greek lenders, putting this corner of south-eastern Europe in the frontline if there is contagion from the Greek crisis."

 
Reggie Middleton's picture

As I Promised, the Nordic States' Central Bank QE Program Slides Backwards and Starts To Collapse





If you jump off of a make believe cliff, don't be surprised when you hit the reality of the ground! Reggie Middleton

 
Tyler Durden's picture

Obamatrade Passes, The Corporations Win Again... And Now They Gloat





"Washington broke arms and heads to get that 60th vote—not one to spare—to impose on the American people a plan which imperils their jobs, wages, and control over their own affairs. It is remarkable that so much energy has been expended on advancing the things Americans oppose, and preventing the things Americans want. The same routine plays out over and again. We are told a massive bill must be passed, all the business lobbyists and leaders tell how grand it will be, but that it must be rushed through before the voters spoil the plan. And when ordinary Americans who never asked for the plan, who don’t want the plan, who want no part of the plan, resist, they are scorned, mocked, and heaped with condescension."

 
Tyler Durden's picture

Greece Rejects "Totally Unacceptable" IMF Counterproposal Demanding Pension Cuts: Full Redline Comparison





The renewed optimism that's surrounded Greek debt negotiations since Monday evening evaporated like deposits on a hot summer day in Athens this morning as the IMF has indicated it will stick to its "red lines" on pension cuts and the VAT, meaning PM Alexis Tsipras will either surrender unconditionally or embrace an EMU exit.

 
Pivotfarm's picture

Place To Go When War Starts





Nobody can deny that the chances of war are increasing in the world.

 
Tyler Durden's picture

Germany, Ireland Demand ELA Curbs If No Greek Capital Controls As Greek "Proposal" Revealed





While the latest European FinMin summit desperately tried to put on a united facade when responding to the latest and greatest Greek proposal, which incidentally is so weak that the IMF will throw up all over it as shown below, the reality behind the scenes was anything but. In fact, Greece was this close to having capital controls forced on it earlier today, and would have, if the demand of not just its old "BFF", Germany's finmin Schauble, but Ireland's Noonan, had materialized.  As the FT reported moments ago, "Germany’s Wolfgang Schäuble and Michael Noonan, his Irish counterpart, pushed for curbs on emergency liquidity for Greek banks unless capital controls were imposed, one of the officials said.

 
Tyler Durden's picture

Fearing Capital Controls, Tourists Request Hotel Safes In Greece





“Clients want to feel secure that if something happens, they’ll have funds. They’re coming with more cash.”

 
Tyler Durden's picture

Rand Paul: "Americans See The Rot In The System...And Want It To End!"





"My tax plan would blow up the tax code and start over. Today, the American people see the rot in the system that is degrading our economy day after day and want it to end. That is exactly what the Fair and Flat Tax will do through a plan that’s the boldest restoration of fairness to American taxpayers in over a century."

 
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