Do Central Bankers Know A Bubble When They See One?

In spite of being exposed in what is either a self-exculpating lie (the claim that bubbles can only be seen after they burst) or a sign of gross incompetence (the failure to see two of the largest financial bubbles in history), no Fed official has ever been asked to explain or rationalize the Fed’s contradictory positions on bubbles.

US Home Prices Hit A Record High In October - What Happens Next?

US home prices have never been higher according to October's Case-Shiller data - surpassing July 2006's peak. The 5.1% YoY rise was slightly better than expected, but, with mortgage applications at Lehman lows and mortgage rates spiking to near 3-year highs since this data, the question is - what happens next?

Dave Collum's 2016 Year In Review - "And Then Things Got Really Weird..."

"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."

College Student Earns 4.0 GPA, Then Drops Out: "You Are Being Scammed!"

"Now that I’ve finished my first semester I think it’s safe to say… FUCK COLLEGE... You are being scammed. You may not see it today or tomorrow, but you will see it some day. Heck you may have already seen it if you’ve been through college. You are being put thousands into debt to learn things you will never even use. Wasting 4 years of your life to be stuck at a paycheck that grows slower than the rate of inflation..."

Financialism, Not Capitalism

In short, we’ve wasted just about ten years calling a depression a recovery, and all because money is so unstable that it has become, for the mainstream as well as mainstream authorities, unrecognizable. If you don’t know what money is, you aren’t going to know when money is a problem.

Dow Soars Above 19,900 On Dramatic Spike In Homebuilder Confidence

Are you f##king kidding me? The Fed hikes rates, interest rates are soaring, mortgage rates are exploding, and mortgage apps have collapsed to 'Lehman' lows... and Homebuilder Confidence explodes to its highest since 2005 - just before it utterly collapsed. Of course this was just what the market wanted and The Dow was panic-bid back above 19,900...

Mortgage Applications Drop To 'Lehman' Lows As Rates Top 4%

Mortgage applications have fallen almost non-stop since their exuberant peak the week of July 4th, tumbling to 2016 lows to the same dismal level of activity as was witnessed after Lehman in Oct 2008. The reason is simple, as we detailed previously, the spike in mortgage rates has slashed the population of refinanceable borrowers from 8.3 million immediately prior to the election to less than 4 million, matching a 24-month low set back in July 2015.