• Steve H. Hanke
    02/11/2016 - 16:08
    The burgeoning literature contains a great deal of hype, which validates the 95% Rule: 95% of what is written about economics and finance is either wrong or irrelevant.

Reality

Tyler Durden's picture

"Nobody Really Knows Anything Right Now"





"We learned one thing yesterday: the U.S. Federal Reserve is in the same position as the rest of us when it comes to forecasting the future path of economic growth.  Nobody really “Knows” anything right now. Now, there’s enough doubt for everyone: markets, central banks, consumers, governments. Everyone. The best thing we can say about that: if markets accept that the Fed is no better informed than they are, maybe investors will devote more time to stock fundamentals and intrinsic value analysis."

 
Sprott Money's picture

Precious Metals Strategy: Bullion or Jewelry?





We have liquidity concerns. We have safety concerns. We have cost and efficiency concerns.

 
Tyler Durden's picture

Circus Politics: Will Our Freedoms Survive Another Presidential Election?





Stop buying into the lie that your vote matters. The only thing you’re accomplishing by taking part in the “reassurance ritual” of voting is sustaining the illusion that we have a democratic republic. What we have is a dictatorship, or as political scientists Martin Gilens and Benjamin Page more accurately term it, we are suffering from an “economic élite domination.” Of course, we’ve done it to ourselves. The American people have a history of choosing bread-and-circus distractions over the tedious work involved in self-government.

 
Tyler Durden's picture

The Empire Has No Clothes





Donald Trump (or Bernie) is a sign of how frustrated the electorate has become. It will be the first shot fired against the Empire. It will be ineffective but will be the first signal that the process of citizens taking back their country has begun. Voters don’t know how to stop what is happening to them and their country but they are mad as hell and are not going to take this anymore. The ballot box will be ineffective in satisfying the public. Other means will be tried. The Empire will not stand idly by while its power is threatened. Thomas Jefferson knew as much when he stated: Every generation needs a new revolution.

 
Tyler Durden's picture

Brazil's Easy-Money Problem





Brazil’s current crisis is nothing but an outcome of government’s meddling with the market. The scenario of the country’s economy is indeed scary, but we have reason to believe that Brazil’s intellectual situation is going through a new and promising change. It may be true, as Lord Keynes said, that “in the long run we are all dead,” but if we are to get out of this terrible crisis, to prosper and to enjoy a constant improvement in our standard of living, “it is high time to transform the country’s state capitalism into a free market system.”

 
Tyler Durden's picture

China Says Soros "Hasn't Done His Homework," May Be "Partially Blind"





"So why do speculators make claims that run counter to reality? Analysts said it is because either the short-sellers haven't done their homework or that they are intentionally trying to create panic to snap profits."

 
Tyler Durden's picture

How Do You Know When Your Society Is In The Midst Of Collapse?





The public idea of collapse comes predominantly from Hollywood, and not from personal experience. For the masses (and some preppers, unfortunately), a collapse is an “event” that happens visibly and usually swiftly. You wake up one morning and behold; the television and phones don’t work anymore and zombies are at your doorstep! Yes, it’s childish and cartoonish, but anything less than a Walking Dead/Mad Max scenario and many people act as if all other threats are benign. This is the driving reason why many Americans are absolutely oblivious to the economic instability that is rampant and blatant within our system the past few months. Well, the problem is that social and economic collapse is not a singular event, it is a PROCESS.

 
Tyler Durden's picture

The Resurrection Of The Dying Art Of Economic Analysis (Or When The Fed Fails)





Detailed analysis of economic data is a dying art. The past seven year bull-market has largely justified the logic of such an approach, but the frenzied panic of the last month raises the question of whether investors will know how to adapt if the framework changes again. Recent market ructions offer the first evidence that central banks may be near the limit of their ability, or their willingness, to keep pumping up asset prices.

 
Tyler Durden's picture

Something Snapped At The Comex





"We are going to need a bigger dilution chart."

 
Tyler Durden's picture

Nationalism & Its Discontents: A Deep Rumination On The Meaning Of Trump





The meaning of Trumpism is that Americans want to rid themselves of the burden of empire. Trump’s rise augurs a seismic shift in the foreign policy debate in this country, marking the end of the interventionist consensus that dominates both parties. And it certainly means the final defeat and humiliation of the neoconservatives, who are busy spewing vitriol at him and his 'plebeian' supporters. And that alone is worth whatever price we have to pay for the triumph of Trump. For the neocons are the very core of the War Party: their demise as a politically effective force inside the GOP is an event that every person who wants a more peaceful world has been longing for and should celebrate.

 
Tyler Durden's picture

US, China Stocks Tumble After Industrial Profits Plunge





Dow futures are down 100 points and Chinese stocks are pressing new 14-month lows, extending last night's carnage after Chinese Industrial Profits tumbled. With a dismal 4.7% drop year-over-year, led by a near 60% collapse in the mining industry, early strength (after some jawboning from Abe) gave way to fresh lows and US equity futures are also responding. Offshore Yuan refuses to drop since Xinhua wrote a 3rd hit piece against George Soros and his "speculative snap profits."

 
Tyler Durden's picture

Peter Schiff On The End Of The Illusion Of Recovery





The financial engineering that has been made possible by zero percent interest rates is no longer available to paper over weak corporate results in the U.S. Our economy is addicted to QE and zero rates, and without those supports, we will spiral back into recession. This is the reality that the mainstream tried mightily to ignore the past several years. But the chickens are coming home to roost, and they have a great many eggs to lay. In the end, stimulus does not create actual growth, but merely the illusion of it.

 
Tyler Durden's picture

Crude Plunges After API Reports Biggest Inventory Build Since 1996





After a day of exuberant hope from rumors of production cuts, WTI crude is plunging back to reality as API reports a stunning 11.4 million barrel inventory build. This is the biggest weekly build since May 1996.

 
Tyler Durden's picture

China Warns Soros Against Starting A Currency War: "You Cannot Possibly Succeed, Ha, Ha"





Soros’s war on the renminbi and the Hong Kong dollar cannot possibly succeed — about this there can be no doubt. Reckless speculations and vicious shorting will face higher trading costs and possibly severe legal consequences. And just as proved in the yuan exchange rate case, the Chinese government has sufficient resources and policy tools to keep the overall economic situation under control and cope with any external challenges.”

 
Tyler Durden's picture

"ISIS Has Enjoyed Turkish Money For Oil For A Very, Very Long Time": Israeli Defense Minister





"It's up to Turkey, the Turkish government, the Turkish leadership, to decide whether they want to be part of any kind of cooperation to fight terrorism. This is not the case so far.”

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