• Tim Knight from...
    11/26/2014 - 19:43
    I read your post Pity the Sub Genius and agreed with a lot of what you wrote. However you missed what I think is the biggest killer of middle class jobs, and that is technological...

New York Stock Exchange

Tyler Durden's picture

Did A Raging Fire Burn Down JPMorgan's Gold Vault?





Overnight there has been a flood of viral reports that 'there was a fire at JPM's gold vault' based on a self-made video showing a barrage of fire trucks located on Broad Street between Wall Street and Exchange Place, further subsantiated additionally by a @FDNY tweet around 6:30 pm on Saturday which indeed confirmed there had been a "commercial fire in a vault." So did a sweeping fire "take place" (in broad daylight and in front of video camera armed streetwalkers) provide the fire brigade a pretext to abscond with JPM's gold, or merely give JPM an alibi to say it's gold is "gone... all gone" or rather "burned... all burned" (leaving aside the propensity of a fire to propagate in the confined oxygen constraints to be found on top of the Manhattan bedrock and far below street level)? No.

 
Tyler Durden's picture

Frontrunning: July 10





  • MSM discovers that soaring dollar hurts corporate profits: P&G to Apple Hurt by Strong Dollar Keep S&P 500 Profits in Check (BBG)
  • China Posts Surprise Drop in Exports (WSJ) - lol: "surprise"
  • Plan Reins In Biggest Banks (WSJ)
  • European Commission Seeks Authority to Wind Down Banks (WSJ) - and Germany just says 9
  • U.S. Banks Seen Freezing Payouts as Harsher Leverage Rules Loom (BBG)
  • Brussels sets up clash with Berlin over banks (FT)
  • EU to Toughen Creditor-Loss Rules at Failing Banks From August (BBG) - or September, or October, but definitely November... 2023
  • China's crude, iron ore imports falter as demand cools (Reuters)
  • Obama pushes economic case for immigration as House eyes next steps (Reuters)
 
Tyler Durden's picture

Guest Post: A Bubble So Big We Can't Even See It





Before the current turmoil began, Ben Bernanke's hope was that rising asset prices would lead to a "wealth effect" that would encourage the American consumer to start spending again, and thus help the American economy finally leave the "Great Recession" behind. However, the empirical data does not support this notion and equally the economy isn't booming sufficiently to make the reverse case that the economy drives the stock market. So what is causing the markets to boom right now? Steve Keen notes that during the period from 1890 to 1950, there was no sustained divergence between stock prices and CPI, and that almost all of the growth of share prices relative to consumer prices appeared to have occurred since 1980; and then, boom! - what must certainly be the biggest bubble in stock prices in human history took off - and it went hyper-exponential in 1995. So are stocks in a bubble? Yes - and they have been in it since 1982. It has grown so big that - without a long term perspective - it isn't even visible to us. It has almost burst on two occasions - in 2000 and 2008 - but even these declines, as precipitous as they felt at the time, reached apogees that exceeded the previous perigees in1929 and 1968.

 
Tyler Durden's picture

“The Year of the Glitch” - The Dark (Pool) Truth About What Really Goes On In The Stock Market: Part 4





Congress wanted to know what would happen if such a “glitch” ate a hole in the balance sheet of a Too Big to Fail bank? The answer: yet another round of tax-payer bailouts.

There was more. BATS, Facebook, and Knight were just the three most prominent computer glitches of the year. Outsiders were realizing what the insiders had known for years: The U.S. stock market was plagued with glitches that happened on a daily basis, and not just in stocks. Markets for commodities, bonds, and currencies all had their fair share of computer-driven mishaps. Increasingly, investors were wondering not only if the market was rigged, but whether it was completely broken. Indeed, the trade publication Traders Magazine called 2012 “The Year of the Glitch.”

 
Asia Confidential's picture

Profit By Betting Against The Crowd





History shows that buying assets down 60% or more has usually delivered fantastic results. On this basis, gold miners, coffee, Vietnam and the Indian Rupee may be tomorrow's winners.

 
Tyler Durden's picture

NSA Foiled NYSE Terrorist Plot, We Now Learn





To think it only took the world's most (in)famous whistleblower to get the NSA to disclose that it had heroically managed to prevent terrorist attacks involving the New York Stock Exchange (we supposed they refer to the Manhattan-based TV studio and not the actual exchange where the servers are now housed in Mahwah, NJ) and the NY Subway. Because whereas there was a time in the past when the various US secret services would scurry at the opportunity to disclose their expertise to the general public, now it is a false negative that is supposed to disprove a positive (pervasive spying on the US population is good for you because...). Of course it takes one non-false positive to disprove a false negative, namely the Boston Bombers, who as far as we recall, used cell phones to communicate. But so much for details: now please praise the NSA, and also comply with the Administration's push to rescind the second amendment. Or is Obama no longer pushing for "arms control"?

 
Tyler Durden's picture

Guest Post: This Is What Crisis Feels Like





On December 1, 2001, Argentina’s economy was in trouble. Unemployment was high, debt was high, and recession had taken hold. But life was somewhat ‘normal’. Basic services still functioned. And no one had to really worry about... food. Or water. Then it all changed. Literally within a day...

 
Pivotfarm's picture

LightIn TheBox: Chinese IPO Still Doing Good!





Goldman Sachs has suggested that there may be up to 349 Initial Public Offerings (IPOs) taking place in China this year. But, it’s not the Chinese capital markets that those companies will be wanting. Chinese firms are still hell-bent on getting floated on the world’s biggest and best stock exchange, and rightly so.

 
Pivotfarm's picture

5 Biggest IPO Fails in History





Here are the worst IPO fails of all time in the world. The ones that we thought would be unfailingly good. The ones that we thought we could bet our bottom dollar on and still strike it rich.

 
Tyler Durden's picture

18 Signs That Massive Economic Problems Are Erupting Everywhere





This is no time to be complacent.  Massive economic problems are erupting all over the globe, but most people seem to believe that everything is going to be just fine.  In fact, a whole bunch of recent polls and surveys show that the American people are starting to feel much better about how the U.S. economy is performing.  Unfortunately, the false prosperity that we are currently enjoying is not going to last much longer. Unfortunately, the majority appear to be purposely ignoring the economic horror that is breaking out all over the globe.

 

 
testosteronepit's picture

Next Shoe To Drop: Shoddy Solar Panels From China





A cruel twist for an already threatened industry.

 
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