Newspaper

williambanzai7's picture

HaNK'S ReSTauRaNT...





Happy Hank'sgiving!

 


Tyler Durden's picture

Guest Post: Zombies Make Dangerous Neighbors





A zombie government armed with accounting tricks has bailed out a zombie banking industry using even more financial phoniness. A few numbers pushed here and there, and the industry is earning record profits. But out in the real world where people live and work, things aren't so rosy. Zombies make negligent landlords and dangerous neighbors.

 


Tyler Durden's picture

Exposing The Reality Of The "Too Good To Be True" Greek Budget Myth





Recently, newspaper headlines declared that Greece would have a balanced budget for 2013 as a whole. The news came as quite a shock: Recall that when Greek officials came clean about the true state of their country’s public finances in 2010, the budget deficit was more than 10% of GDP – a moment of statistical honesty that triggered the eurozone debt crisis. It seemed too good to be true that the Greek deficit would be completely eliminated in just three years. In fact, it is too good to be true.

 


Pivotfarm's picture

It’ll Snow-den in Time for Xmas





Edward Snowden has recently revealed that he has a secret cache of ‘doomsday’ material that will blow the world apart and the US in particular.

 


Tyler Durden's picture

"I Fear For What’s Coming" – 68% Of Americans Believe The Country Is On The Wrong Track





Are you deeply concerned about the future of America?  Is something in your gut telling you that our system is fundamentally broken and that the mainstream media is not telling you the truth about what is happening?  If so, you are definitely not alone.  Right now, there are millions upon millions of Americans that are absolutely horrified as they watch this nation deteriorate.  In fact, according to an analysis of recent polling data conducted by Real Clear Politics, approximately 68 percent of all Americans believe that the country is on the wrong track and only 23.5 percent of all Americans believe that the country is on the right track.

 


Tyler Durden's picture

"We Will Soon Learn How Strong The QE Trap Has Become"





Reading between the lines of recent Fed communications, it’s becoming increasingly clear to me that the Fed wants to exit its quantitative easing policies as soon as possible. Though they’re loath to admit it, the architects of quantitative easing now recognize that their efforts are achieving diminishing marginal returns while at the same time building up massive imbalances, distortions, and speculative excesses in the capital markets. Moreover, they’re realizing that the eventual exit costs are also likely much higher than they had previously thought, and continue to rise with each new asset purchase. Implications for the markets, which may not yet be fully prepared for this outcome, are likely to be significant. In short, we would expect yield curves to steepen, the dollar to strengthen, equities to fall, credit spreads to widen, commodities to weaken (the metals in particular), and volatility to rise. How the Fed will then respond to these developments will be very telling indeed. Their hand will be forced, and we may all soon learn how strong the QE trap has become.

 


Tyler Durden's picture

And Today's Other Anniversary...





With all eyes glued to the anniversary of the assassination of JFK 50 years ago, we thought it worth noting that the death of another important American figure - the USDollar - began exactly 100 years ago. Today in 1910 Sen. Aldrich, 1 yr after introducing an amendment to establish an income tax, convened the first secret meeting at Jekyll Island.

 


Tyler Durden's picture

Is Venezuela Selling Gold to Goldman Sachs?





With gold once again getting the slamdown treatment this morning (even as stocks shrug off any taper tantrum fears) the following article from Venezuelan newspaper El Nacional seems quite prescient. As Liberty Blitzkrieg's Mike Krieger notes, it appears to imply that the struggling South American nation has agreed to sell or swap the gold it still holds overseas at the Bank of England to Goldman Sachs. Perhaps that helps explain where Maduro got the money for the Samsung deal...

 


Tyler Durden's picture

Jim Rogers: "Own Gold" Because "One Day, Markets Will Stop Playing This Game"





Jim Rogers hope-driven wish is that the politicians were smart enough at some point to say (to the central bankers), "we've got to stop this, this is going to be bad." He adds, on the incoming QEeen, "she’s not going to stop it, first of all she doesn't believe in stopping it, she thinks printing money is good." However, Rogers warns in this excellent interview with Birch Gold, "eventually the markets will just say, "We're not going to play this game anymore", and we'll have a serious collapse." The world is blinded by central bank liquidity, and as Rogers somewhat mockingly notes "if everybody says the sky is blue, I urge you to look out the window and see if it's blue because I have found that most people won't even bother to look out the window..." Rogers concludes, "everybody should own some precious metals as an insurance policy," because as he ominously warns, when 'it' collapses, "there will be big change.

 


Tyler Durden's picture

Manhunt In Paris For "Terrorist" Gunman On The Loose





As reported earlier today, Paris was the latest city to succumb to a rogue shooter when a gunman shot a photographer at left-leaning French newspaper Liberation, following by a shooting near the  headquarters of French bank SocGen.  The lone gunman is shown on the picture below. How the Paris situation differs from numerous such incidents taking place recently in the US, however, is that so far the gunman has not been captured or otherwise "incapacitated." Furthermore, as was reported subsequently, the Paris prosecutors are now treating the shooting as a "terrorist" case. And now, as the WSJ reports, Paris in now gripped in a manhunt for the gunman who is currently on the loose.

 


Tyler Durden's picture

Shooting Reported In Front Of SocGen Towers In Paris, Suspect On The Run





 


Tyler Durden's picture

"It Is High Time That Central Banking Is Recognized For The Disease It Is"





The notion that the euro area crisis is over has recently been heavily propagated  by EU politicians and the mainstream media. However, it is way too early for such victory laps. Hans-Werner Sinn is perfectly correct in pointing out that the ECB's attempts to restore the 'monetary policy transmission mechanism' by suppressing interest rates in the periphery is going to perpetuate capital malinvestment,delay the necessary reforms and these interventions have actually scared private capital away, as investors require adequate compensation for the risks they are taking. Meanwhile, savers are ultimately paying for this ongoing waste of scarce capital. It is high time that central banking is recognized for the disease it is. Without central banks aiding and abetting credit expansion, this situation would never have arisen. Even a free banking system practicing fractional reserve banking could not possibly have created such a gigantic boom-bust scenario. Money needs to be fully privatized – the State cannot be trusted with it.

 


Tyler Durden's picture

Vietnam Shows How To Clean Up The Banking System: Ex-Banker Faces Death Penalty For Fraud





The lack of prosecution of bankers responsible for the great financial collapse has been a hotly debated topic over the years, leading to the coinage of such terms as "Too Big To Prosecute", the termination of at least one corrupt DOJ official, the revelation that Eric Holder is the most useless Attorney General in history, and even members of the judicial bashing other members of the judicial such as in last night's essay by district judge Jed Rakoff. And naturally, the lack of incentives that punish cheating and fraud, is one of the main reasons why such fraud will not only continue but get bigger and bigger, until once again, the entire system crashes under the weight of all the corruption and all the Fed-driven malinvestment. But what can be done? In this case, Vietnam may have just shown America the way - use the death penalty on convicted embezzling bankers. Because if one wants to promptly stop an end to financial crime, there is nothing quite like the fear of death to halt it.

 


Tyler Durden's picture

Equities Act Weak, Confused Following Oscar-Worthy Good Cop, Bad Cop Performance By The Fed





As DB notes, it appears that markets continue to steadily price in a greater probability of a December taper judging by the 2bp increase in 10yr UST yields, 1.2% drop in the gold price and an edging up in the USD crosses yesterday. Indeed, the Atlanta Fed’s Lockhart, who is considered a bellwether within the Fed, kept the possibility of a December tapering open in public comments yesterday. But his other comments were quite dovish, particularly when he said that he wants to see inflation accelerate toward 2% before reducing asset purchases to give him confidence that the US economy was not dealing with a “downside scenario”. Lockhart stressed that any decision by the Fed on QE would be data dependent - so his comments that the government shutdown will make coming data "less reliable" than might otherwise have been, until at least December, were also quite telling. The dovish sentiments were echoed by Kocherlakota, a FOMC voter next year. In other words, an Oscar-worthy good-cop/bad-cop performance by the Fed's henchmen, confusing algotrons for the second day in a row.

 


Syndicate content
Do NOT follow this link or you will be banned from the site!