• Monetary Metals
    07/28/2014 - 02:38
    Notice the “icicles” dripping all over the place? They occur at different times of the day. What are they? Each one is a brief but dramatic price drop.

Kraft

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Two Thirds Of Gen X Households Have Less Wealth Than Their Parents Did At The Same Age





Just how badly is Generation X doing? Bad enough to turn around the entire concept of middle-class prosperity in America - one where every next generation should do better than the preceding one - on its head. "Only one-third of Generation X households had more wealth than their parents held at the same age, even though most earn more, The Pew Charitable Trusts found." And there, in a nutshell, is your so-called recovery: two thirds of an entire generation - one which is in its prime working years - doing worse than the one before them!

 
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Frontrunning: June 9





  • Attorneys Known for Large Civil Settlements Line Up to Sue GM Over Company's Handling of Defective Ignition Switches (WSJ)
  • Pakistani Taliban attack airport in Karachi, 27 dead (Reuters)
  • U.S. Official: Sgt. Bowe Bergdahl Has Declined to Speak to His Family (WSJ)
  • Ukraine Gas Talks Resume in Brussels to Avoid Cut-off This Week  (BBG)
  • China's Central Bank Flexes Muscle (WSJ)
  • China says Vietnam, Philippines' mingling on disputed isle a 'farce' (Reuters)
  • World Needs Record Saudi Oil Supply as OPEC Convenes (BBG)
  • Kraft Raises Prices on Maxwell House, Yuban U.S. Coffee Products (BBG)
  • United Continental: One Sick Bird (WSJ)
 
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The All-Time-High In The Dow Jones Industrial Average Is A Hoax





The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph is a useful way to show which phase the industrial revolution is in. Changes in the DJIA shares basket, changes in the formula and stock splits during the take-off phase and acceleration phase of industrial revolutions are perfect transition-indicators. The similarities of these indicators during the last two revolutions are fascinating, but also a reason for concern. In fact the graph of the DJIA is a classic example of fictional truth, a hoax.

 
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Frontrunning: April 14





  • Three dead in shootings at Kansas Jewish centers; man to face charges (WSJ)
  • Sanctions Blowback in Russia Targets Burgers to Movies (BBG)
  • Deadly Virus's Spread Raises Alarms in Mideast (WSJ)
  • China group buys $6bn Glencore Peru copper mine (BBG)
  • Iran lodges complaint against United States over U.N. envoy ban (Reuters)
  • Russian assets down sharply on Ukraine conflict fears (Reuters)
  • ECB comments knock euro, but not much (Reuters)
  • World-Leading $25 Hourly Wage Roils Swiss Businesses (BBG)
 
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Frontrunning: November 14





  • Yellen to defend Fed's ultra-easy monetary policy (Reuters)
  • Japan growth slows on global weakness (WSJ)
  • Eurozone third-quarter growth falters (FT)
  • Fed Debates Its Low-Rate Peg (Hilsenrath)
  • Yellen: Economy Still Needs Fed Aid (WSJ)
  • ‘Obamacare’ launch fiasco rouses sceptics (FT)
  • DoubleLine's Gundlach says U.S. equities 'only game in town' (Reuters)
  • Indian Inflation Exceeding Estimates Adds Rate-Rise Pressure (BBG)
  • HUD Said to Fail in Bid to Sell $450 Million of Mortgages (BBG)
  • Boeing machinists reject labor deal on 777X by 67 percent (Reuters)
 
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Frontrunning: November 13





  • Desperate Philippine typhoon survivors loot, dig up water pipes (Reuters)
  • Fading Japanese market momentum frustrates investors (FT)
  • China's meager aid to the Philippines could dent its image (Reuters)
  • Headline du jour: Granted 'decisive' role, Chinese markets decide to slide (Reuters)
  • Central Banks Risk Asset Bubbles in Battle With Deflation Danger (BBG)
  • Navy Ship Plan Faces Pentagon Budget Cutters (WSJ)
  • Investors pitch to take over much of Fannie and Freddie (FT)
  • To expand Khamenei’s grip on the economy, Iran stretched its laws (Reuters)
  • Short sellers bet that gunmaker shares are no long shot (FT)
  • Deflation threat in Europe may prompt investment rethink (Reuters)
 
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Frontrunning: October 31





  • US Blasts Germany's Economic Policies (WSJ)
  • Citigroup, JPMorgan Said to Put Currency Dealers on Leave (BBG)
  • Watchdog: Syria Destroys Chemical-Arms Equipment (WSJ)
  • Kynikos Alumni Start Hedge Fund Betting on Declining Stocks (BBG)
  • China state media calls for stern action after Tiananmen attack (RTRS)
  • IMF warns of financial shock risk to Africa (FT)
  • Insurers Oppose Obamacare Extension as Danger to Profits (BBG)
  • BoJ content to ignore Fed tapering and go its own way (FT)
  • U.S. attorney wants DOJ to take civil action against BofA (RTRS)
  • NSA Fallout Hits AT&T's Ambitions In Europe (WSJ)
 
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Merkel's Mounting Imbalances





As Angela Merkel prepares for her third term - in whatever odd coalition that lurches from the election - the following four charts may surprise many that believe in the core European nations' dominance uber alles. As Bloomberg's Niraj Shah notes, Merkel may find rebalancing the German economy, as its reliance on exports increases, harder than ever. The low levels of growth, high trade balances, excepotionally low consumption and homeownership, and growing "shadow" economy all point to a European core that is far from the beacon of stability so many assume it to be.

 
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Is This A Reason To Like Larry Summers... Or When 313 Economists Can Certainly Be Wrong





There is a saying: if in doubt, ask an economist, and do the opposite.

There is also consensus among the people inhabiting the real world -the one that is found outside the ivory towers of the economics departments of all US and global Tier 1, 2 and 3 universities - that the only reason the world is currently in its sad, deplorable and deteriorating economic state (which however keeps making the rich richer), is precisely due to these same economists, whose tinkering and experimentation with DSGE models, differential equations, curved lines, and all such things all of which have no real world equivalent, and specifically due to economists like Greenspan and Bernanke. These two men, both of whom barely have seen the real world for what it is or held a real job outside of their academic outposts, who surround themselves with brownnosing sycophants and who do the bidding of Wall Street, are the primary reason for the current centrally-planned quagmire. Which is why we wonder: is the fact that some 313 economists (and counting) have signed a petition pushing for Janet Yellen (aka Freudian slip "he" if you are the president), and against Larry Summers, sufficient grounds to actually like the outspoken former Harvard head?

 
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Frontrunning: August 8





  • Fukushima: "300 metric tons of contaminated water were likely leaking into the ocean daily" (WSJ)
  • Unexpected strength in China trade data eases some gloom (Reuters) - actually, perfectly expected data fakery
  • Pimco, BlackRock Seek to Bar California Mortgage Seizures (BBG)
  • How will Amazon's Bezos change The Washington Post? (Reuters)
  • Montreal Maine Railway Files for Bankruptcy After Crash (BBG)
  • Fed Belongs to Everybody as Public Says It’s Our Money in Crisis (BBG)
  • Local Russian TV channel broadcasts rare critical segment about Putin (Reuters)
  • Loeb’s Reinsurer With No U.S. Staff Gains From Obama’s Jobs Act (BBG)
  • As Berlusconi star fades, daughter Marina tipped as new leader (Reuters)
  • Detroit Rattles Muni Market (WSJ)
 
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Frontrunning: August 5





  • Botulism toxin? There's an apology for that - Fonterra CEO apologizes, sees China dairy curbs lifted within days (Reuters)
  • Patent troll-In-Chief strikes again: Veto of Apple Ruling Likely to Upend Big Patent Battles (WSJ)
  • Because scapegoating means justice FTW - SEC Gets ‘Shot in the Arm’ With Victory in Tourre Case (BBG)
  • Insider-Trading Probe Caught in a Washington Knot (WSJ)
  • Miners return to hedging as gold  (FT)
  • Toyota’s $37 Billion Cash Pile Means Turning Point for Abenomics (BBG)
  • Inside the battle at Germany's Siemens (Reuters)
  • ‘One million’ UK workers on zero hours contracts (FT)
  • Wag the dog, part 1984: Iran Seen Trying New Path to a Bomb (WSJ)
  • Tokyo Cheap to Hong Kong Luring Asian Bargain Hunters (BBG)
 
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Frontrunning: June 21





  • Turmoil Exposes Global Risks (WSJ)
  • China Money Rates Retreat After PBOC Said to Inject Cash (BBG)
  • Fed Seen by Economists Trimming QE in September, 2014 End (BBG)
  • Booz Allen, the World's Most Profitable Spy Organization (BBG)
  • Abe’s Arrows of Growth Dulled by Japan’s Three Principles (BBG)
  • China steps back from severe cash crunch (FT)
  • Smog at Hazardous as Singapore, Jakarta Spar Over Fires (BBG)
  • U.S. Weighs Doubling Leverage Standard for Biggest Banks (BBG)
 
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Frontrunning: May 16





  • As scandals mount, White House springs into damage control (Reuters)
  • Glencore Xstrata chairman ousted in surprise coup (Reuters), former BP CEO Tony Hayward appointed as interim chairman (WSJ)
  • JPMorgan Chase asks Bloomberg for data records (Telegraph)
  • Platts Retains Energy Trader Confidence Amid Price-Fix Probe (BBG)
  • Syrian Internet service comes back online (PCWorld)
  • Japan Q1 growth hits 3.5% on Abe impact although fall in business investment clouds optimism for recovery (FT)
  • Soros Joins Gold-Stake Cuts Before Bear Market Drop (BBG)
  • Factory Ceiling Collapses in Cambodia (WSJ)
  • Sony’s $100 Billion Lost Decade Supports Loeb Breakup (BBG)
  • Snags await favourite for Federal Reserve job (FT)
  • James Bond’s Pinewood Turned Down on $300 Million Plan (BBG)
 
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Frontrunning: May 3





  • U.S. Bulks Up to Combat Iran (WSJ)
  • Taking sides in Syria is hard choice for Israel (Reuters)
  • Gold Traders Most Bearish in Three Years After Drop (BBG)
  • It's a Hard Job Predicting Payrolls Number  (WSJ)
  • EU economies to breach deficit limits as economic picture darkens (FT)
  • IBM Says U.S. Justice Investigating Bribery Allegations (BBG)
  • At Texas fertilizer plant, a history of theft, tampering (Reuters)
  • SAC Sets Plan to Dock Pay in Cases of Wrongdoing (WSJ) - "in case of"?
  • EU to propose duties on Chinese solar panels (Reuters)
  • Billionaire Kaiser Exploiting Charity Loophole With Boats (BBG)
  • SEC Zeroing In on 'Prime' Funds (WSJ)
  • Apple Avoids $9.2 Billion in Taxes With Debt Deal (BBG)
  • China April official services PMI at 54.5 vs 55.6 in March (Reuters)
 
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Frontrunning: April 11





  • Obama to report to his bosses today: Obama Meets With Blankfein, Dimon and Moynihan Today (BBG)
  • 2007 is here all over again: Seeking Relief, Banks Shift Risk to Murkier Corners (NYT)
  • Kuroda Calls BOJ Inflation Target 'Flexible' (WSJ)
  • Lagarde warns over three-speed world (FT)
  • N. Korea’s Retro Propaganda Calls U.S. Boiled Pumpkin (BBG)
  • Luxembourg To Ease Bank Secrecy Rule, Share Data In 2015 (BBG)
  • Bank of Korea Keeps Policy Steady (WSJ)
  • BOE Stimulus Dilemma Persists as Inflation Seen Higher (BBG)
  • EU Sounds Alarm on Spain (WSJ)
  • Qatar gives Egypt $3bn aid package (FT)
  • RBNZ Says Deposit Insurance May Increase Risk of Bank Failure (BBG)
  • Plosser Calls for Reducing QE Pace Citing Gains in Labor Market (BBG)
  • Obama budget aims to kick start deficit-reduction talks (Reuters)
 
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