Reality

Tyler Durden's picture

With Greece Swept Under The Rug, Focus Turns To Janet Yellen's Congressional Testimony





There was an expectation that today's receipt by the Troika of the revised Greek "reform proposal" would send risk and the EUR higher, which is probably precisely why nothing has happened so far, and US equity futures are unchanged ahead of what the HFT algos' new attention focus is today, namely Yellen's semi-annual testimony to Congress. As a result, the only thing that has seen notable strength this morning is the USD, which has surged to 119.50 against the Yen, and briefly pushed the EURUSD under 1.1300. which also means that WTI has also gone nowhere overnight and remains under $50. One wonders just what OPEC "rumor" those long crude will leak today.

 
Tyler Durden's picture

Throw Your Grandma Under The Bus





When the German/Eurogroup decision came to throw either their own biggest banks, or the grandmas of a co-member nation of the currency union under the bus, they didn't even hesitate since they have control over the perfect vehicle for such tasks: the ECB (an allegedly neutral institution that in reality peddles political influence in a way that guarantees the poorer countries will always wind up footing the bill). For those of you who don’t want to wake up one day to find their own grandmas crushed under the same bus the Greek yiayia’s are under as we speak, it would be beneficial to ponder how perverse this all is, not just the isolated events but the entire underlying system that produces them. Banks are more important than people, certainly grandmas.

 
Sprott Money's picture

Is Greece Being Forced into the Waiting Arms of Russia?





We may all be witnessing the beginning of the end of the European Union. For years, experts have stated that it is unsustainable for Greece to stay in the European Union. For years, those experts have been proven wrong.

 
Tyler Durden's picture

Markets Vs Economy - The Great Disconnect





So, while the markets have surged to "all-time highs," the majority of Americans who have little, or no, vested interest in the financial markets have a markedly different view. Currently, mainstream analysts and economists keep hoping with each passing year that this will be the year the economy comes roaring back but each passing year has only led to disappointment. Like Humpty Dumpty, all the Fed stimulus and government support has failed to put the broken financial transmission system back together again. Eventually, the current disconnect between the economy and the markets will merge. Our bet is that such a convergence is not likely to be a pleasant one.

 
Tyler Durden's picture

The Rig Count "Meme" (And Why The Bounce In WTI Is Likely Over)





Recently, the Baker Hughes Rig Count has become all the rage. The problem is that not all rigs are created equal, and what we see is still a “net” number. We see the net number of rigs that are working. The reality is that some new projects continue to come on line and are very high producing wells, and some of what is being taken away, was either old, or projects that hadn’t yet been contributing production. While many have pointed out that the drop in rig count is not changing production, they are quickly learning the lesson of trying to get a few facts to stand in the way of a good meme, but we think they are about to get listened to... while oil has stabilized, the next leg is likely lower.

 
Tyler Durden's picture

Republicans To Investigate NASA Over Climate Data Tampering





With record heat (and drought) in the west and record cold (wet and snow) in the east, the global warming game-playing continues every day but the climate-gate rhetoric has increased vociferously since we first noted three weeks ago, the data that has been so relied upon to 'prove' global warming's trend was in fact manipulated. What The Telegraph called "the most extraordinary scandal of our times" - that of the "seasonally-adjusted" seasonal raw global temperature data - is about to be investigated by Congress. As Daily Caller reports, California Republican Rep. Dana Rohrbacher exclaimed "expect there to be congressional hearings into NASA altering weather station data to falsely indicate warming & sea rise."

 
Tyler Durden's picture

Subprime Car Loan Bubble 2.0 Full Frontal





"... should interest rates rise later this year, some households and corporations may find themselves overleveraged as interest rates and borrowing costs rise. When looking at interest rate sensitivity by loan product, we see that auto loans rates are the most sensitive to changes in the fed funds target rate. In addition, we can see that for each one-percentage point rise in the fed funds rate, the interest rate on a 48-month new car loan rises 0.61 percentage points."

 
Tyler Durden's picture

Why Does Fiat Money Seemingly Work?





Government mandated fiat currency simply does not work in the long run. We have empirical evidence galore – every fiat currency system in history has failed, except the current one, which has not failed yet. The modern fiat money system is more ingeniously designed than its historical predecessors and has a far greater amount of accumulated real wealth to draw sustenance from, so it seems likely that it will be relatively long-lived as far as fiat money systems go. In a truly free market, fiat money would never come into existence though. Greenspan was wrong – government bureaucrats cannot create something “as good as gold” by decree.

 
Tyler Durden's picture

Greece: The Facts Remain In A Game Of Theories





"Are the playing cat and mouse?" Or, "Is this some form of brilliant display of game theory that we mere mortals can’t understand?" If it is borne out to be true that what is being reported throughout many media channels is the fact that Greece has indeed nearly forfeited all its positions in-turn for some changes in language as to appear they have indeed stood up to their nemesis “and won” will not only be disappointing, in our opinion it will embolden central bankers and Keynesian devotees everywhere to view the monetary world with even more self-aggrandized thoughts and actions.

 
Tyler Durden's picture

There's No Way Out Now: "That Choice Was Yours"





The overwhelming mainstream media message continues to be everything is strong and the future is absolutely as bright as ever, as measured by the all time high markets; but the facts and the data clearly tell a different story. While memories are short, 2008/9 (and 199/2000) taught us that pundits will always tout the ‘everything is great’ story until it is too late. They laugh and ostracize anyone who attempts to rock the boat with a message of reality. And they do it to deter others from delivering such a message. That message is that there exists no catalyst mechanism to pull us out of this economic slumber. So you can listen to and laugh along with the ‘all knowing’ pundits or you can take heed of history and protect yourself now. But do remember the choice was yours. You will have nobody to blame but yourself when and if it all comes tumbling down and you were too busy laughing.

 
Phoenix Capital Research's picture

A Financial House of Cards Held Together By Lies and Fraud





Fraud is endemic in the financial system today. We know that the currency, stock, bond, and even commodity markets have ALL been manipulated by Investment Banks or Central Banks.

 
Tyler Durden's picture

The "War On Terror" Turns Inward – DHS Report Warns Of Right Wing Terror Threat





And so it begins... the intentional demonization of a growing segment of the U.S. population that rightly believes the government is run by a collective of thieving, corrupt, immoral sociopaths. Commingling dissent, violence and “right wing” ideology will be key in the ultimate division of government critics in these United States, and a successful attempt to scare people away from questioning a clearly degraded and parasitic status quo.

 
Tyler Durden's picture

The Signals Are Clear





The signals are clear: the world has already entered a downturn in economic activity. Therefore we can expect accelerated money-printing and the imposition of more negative interest rates in a forlorn attempt to avert economic reality.

 
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