Michigan

Goldman's Take On Yellen's Dovish Deluge: "A Less Confident Take On Rate Normalization"

In recent weeks, Goldman Sachs has gained prominence by being the only bank left standing in its confidence that the Fed's forecast of 2 rate hikes in 2016 is wrong, and instead is sticking with its hawkish prediction of at least 3 rate hikes for 2016. This also explains why Goldman has been pounding the table on long US dollar bets, which incidentally have led to major losses in the past three major central bank announcements, two from Mario Draghi and one from Yellen. why we were curious how Goldman would reconcile the latest "dovish" shocker from Yellen which has unleashed a dramatic buying spree of all risk assets (as of this moments the S&P500 is trading at a 23x LTM GAAP P/E), with Goldman's hawkish bias.

America Hits Rock Bottom: Cities Are Paying Criminals $1000 Per Month "Not To Kill"

It is widely known that as part of the economic debate, the most controversial topic is whether to engage in helicopter money, i.e., hand out freshly printed money directly to the people. What is less known is that when it comes to the most despicable underbelly of US society, cash to the tune of $1000 per month is already being "helicoptered" to some of the most brazen criminals living in the US today with one simple condition: "don't kill people."

Why America May Not Be Considered A "First World Country" Much Longer

The Occupy Movement represented a clear indication that the working poor, or precariat, is no longer feeling represented by the First World state. With this massive inclusion of a working-class, poor, ethnically diverse group, to the already and obviously marginalized, the population of Fourth World America at the very least rivals the population of First World America. And while the American government continues to nominally supply aid to the Third World, the Fourth World inside the U.S. is slowly being forgotten.

This Is What's Happening To People Who Live Near The Worst Gas Leak In US History

“They’ve stopped saying everything’s fine. I’ve got two words for ‘everything’s fine’: Flint, Michigan.” On February 18, SoCalGas and the national media declared theworst methane gas leak in U.S. history” permanently sealed, but just over a month later, hundreds of Porter Ranch residents who evacuated — and are now returning home — are suffering the same symptoms they suffered when the gas leak was active.

For The Average American, Owning A Home Is Increasingly Unaffordable

Home prices are rising faster than wages in most of the United States, making homeownership increasingly difficult for average Americans in some of the most populous areas of the country, according to a report released on Thursday. The report found that home price growth exceeded wage growth in nearly two thirds of the nation's housing markets so far this year, with urban centers like San Francisco and New York City among the least affordable.

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The Forex Rigging Irony

While Forex banks, traders, and other institutions are being blamed for market rigging, the Swiss National Bank can publish reports about its own market rigging, but instead of being a scandal, it's economic data.  That's because the vast majority don't understand how the Forex markets work.  It's not insulting - it's a fact.  Currently there are hundreds of pending litigation cases against a plethora of Forex banks, traders, and other institutions - but none against a central bank.

Global Stocks Levitate Despite Ongoing Oil Weakness; China Stocks Jump After Easing Margin Debt

At the same time as the PBOC was cautioning about the dangers of excess debt (just as it injected a record amount of loans into the financial system), China's central bank warned about dangers from a stock market bubble, and perhaps just to assure the bubble gets even bigger, at the same time China eased on margin debt limits, in the process sending Chinese stocks soaring higher by 2.2%, and pushing the Shanghai Composite over 3000 for the first time in months as China now appears set to attempt another housing bubble "soft landing" while at the same time restarting its housing bubble.

The Trump Rebellion - Suicide Of The GOP... Or Rebirth?

The Trump campaign is not a hostile takeover of the Republican Party. It is a rebellion of shareholders who are voting to throw out the corporate officers and board of directors that ran the company into the ground. Only the company here is our country.

On Opex Day, It's All About The Dollar: Futures, Oil Levitate As USD Weakness Persists

It may be option expiration day (always leading to abnormal market activity) but it remains all about the weak dollar, which after crashing in the two days after the Fed's surprisingly dovish statement has put both the ECB and the BOJ in the very awkward position that shortly after both banks have drastically eased, the Euro and the Yen are now trading stronger relative to the dollar versus prior. As DB puts it, "the US Dollar has tumbled in a fairly impressive fashion since the FOMC on Wednesday with the Dollar spot index now down the most over a two-day period since 2009" which naturally hurts those countries who have been rushing to debase their own currencies against the USD.

Frontrunning: March 15

  • Bank of Japan Holds Fire on Stimulus, Negative Rate Unchanged (BBG)
  • Donald Trump Aims for a Knockout in Tuesday Primaries (WSJ)
  • Global Stocks Fall on Commodities Decline, Ahead of Fed Meeting (WSJ)
  • Oil prices fall as clouds gather over supply picture (Reuters)
  • Many Shale Companies Are Unable to Ramp Up Oil Output (WSJ)

All Eyes On The Fed: Key Events In The Coming Central Bank-Dominated Week

Last week it was all about the ECB, which disappointed on hopes of further rate cuts (leading to the Thursday selloff) but delivered on the delayed realization that the ECB is now greenlighting a tsunami in buybacks (leading to the Friday market surge). This week it is once again all about central banks, only this time instead of stimulus, the risk is to the downside, with the BOJ expected to do nothing at all after the January NIRP fiasco, while the "data dependent" Fed will - if anything - hint at further hawkishness now that the S&P is back over 2,000.

Democracy, Be Damned - The "Sea Island" Conspiracy Reveals The Deep State

What we see at Sea Island is that, despite all their babble about bringing the blessings of “democracy” to the world’s benighted, AEI, Neocon Central, believes less in democracy than in perpetual control of the American nation by the ruling Beltway elites. If an outsider like Trump imperils that control, democracy be damned. The elites will come together to bring him down, because, behind party ties, they are soul brothers in the pursuit of power.