Recession
"A Sad State Of Affairs" - Two-Thirds Of Americans Have No Emergency Savings
Submitted by Tyler Durden on 01/07/2016 11:40 -0500"When 63% of all Americans can’t handle a $500 emergency, and 46% of households making over $75,000 can’t handle a $500 emergency, then they are just plain stupid, frivolous, and incapable of distinguishing between wants and needs. Delayed gratification is a trait almost non-existent among Americans today."
Why Bank Of America Just Said To Go Long "Cash & Volatility", In Charts
Submitted by Tyler Durden on 01/07/2016 10:49 -0500Canada PMI Crashes Into Contraction
Submitted by Tyler Durden on 01/07/2016 10:13 -0500Canada's Ivey Purchasing Managers Index collapsed from an exuberant and simply unbelievable 63.6 in November to a contractionary 49.9 in December - one of the biggest MoM drops on record and biggest misses on record. On a seasonally-unadjusted basis, this is the weakest print in at least 2 years. From the best data since February 2012 to the worst since February 2015 seems to expose these soft-surveys as practically useless. The huge drop in Inventories suggests a major drag on GDP and an extension of Canada's recession.
Gallup Explains Trump: "A Staggering 75% Of Americans Believe In Widespread Government Corruption"
Submitted by Tyler Durden on 01/06/2016 19:32 -0500What explains America's revulsion with the existing system? The answer comes from the latest Gallup article: "Explaining Trump: Widespread Government Corruption" in which it finds that once the silent majority of the population can identify the object of their distrust and anger - in this case Congress and the political status quo - and once they can subsequently identify an object that represents its opposite, the latter object's distance to the Oval Office becomes considerably shorter.
Macy's Massacre: Thousands Fired; Guidance Slashed (Again); Weather Blamed
Submitted by Tyler Durden on 01/06/2016 19:22 -0500Two months after the first "Macy's Massacre", the massacre is back with a vengeance, and moments ago the iconic retailer not only reported yet another cut in its guidance, but also announced it would be laying off another boatload of retailers, demonstrating just how strong the "service" economy truly is.
China Has A "Colossal Credit Bubble" And No One Knows How It Will Unwind, Marc Faber Warns
Submitted by Tyler Durden on 01/06/2016 13:20 -0500"We had a hard landing in the stock market already. We had a hard landing in commodities. [So yes], we could have a hard landing in the economy. China has a colossal credit bubble and no one knows how it's going to unwind."
US Factory Orders Deep In Recession - Tumble YoY For 13th Month In A Row
Submitted by Tyler Durden on 01/06/2016 10:19 -0500US factory orders have never dropped this far for so long without the US economy overall being in recession. November's 4.2% YoY drop is the 13th consecutive monthly drop. Revistions to durable goods data shows a 1% drop in new orders ex-defense in November after rising 1.4% in October.. and as a reminder, this data was buoyed by a 46.9% surge in defense aircraft and parts orders to all-time highs. Traders better hope for moar war or the reality of the economy will peak out from behind the military-industrial complex veil.
ADP Payrolls Soar To Highest Since 2014, Zandi Sees "Return To Full Employment By Mid-Year"
Submitted by Tyler Durden on 01/06/2016 08:23 -0500Great news right? For those hoping for some "bad news is good news to slow The Fed down" data, ADP is a disappointment. The December monthly change was a rise of 257k - hugely better than the expected 198k and th ebiggest rise since December 2014. Most importantly the goods-producing sector added a shocking 23,000 jobs - despite every single manufacturing indicator deep in recession. Service-sector jobs added 234k.
"Presidentialism" Not Serving American Politics Well
Submitted by Tyler Durden on 01/05/2016 22:30 -0500Evangelicals, Tea-partiers, Progressives, Libertarians, Ghettofied Blacks, Unionized Labor, and other groups will be tapped and lured by the career politicians in the two parties to receive their financial support and vote, in most instances without political voice… Our system of Presidentialism may have served us well in the past but its rigidity in the political process denies the multiple voices that need to be heard in a democracy, nor offers the required tools for political compromise. Sadly... here we are, stepping into 2016 with the possible political prospect of having to elect as chief executive of this nation either a lady with questionable trust-credentials or a boisterous charlatan.
Nomi Prins' Financial Road Map For 2016: "The Potential For Chaotic Fluctuations Is Greater Than Ever"
Submitted by Tyler Durden on 01/05/2016 18:15 -0500- Bernie Sanders
- Bond
- Brazil
- Capital Markets
- Central Banks
- China
- Circuit Breakers
- Corruption
- default
- European Central Bank
- Excess Reserves
- Federal Reserve
- Fitch
- Greece
- Investment Grade
- Iran
- Italy
- Janet Yellen
- Japan
- Mexico
- Monetary Policy
- None
- OPEC
- Portugal
- Recession
- recovery
- Saudi Arabia
- Unemployment
- US Dollar Index
- Volatility
- Yuan
We are currently in a transitional phase of geo-political-monetary power struggles, capital flow decisions, and fundamental economic choices. This remains a period of artisanal (central bank fabricated) money, high volatility, low growth, excessive wealth inequality, extreme speculation, and policies that preserve the appearance of big bank liquidity and concentration at the expense of long-term stability. The potential for chaotic fluctuations in any element of the capital markets is greater than ever. The butterfly effect - the flutter of a wing in one part of the planet altering the course of seemingly unrelated events in another part - is on center stage.
Another Bank Throws In The Towel: "After 6 Years Of Outperformance" Citi Cuts US Stocks To Underweight
Submitted by Tyler Durden on 01/05/2016 10:35 -0500Yesterday JPM, which despite calling for a 2,200 year end price target, paradoxically warned that the regime of "buying dips" is over, and that "we take the view that equities are unlikely to perform well on a 12-24 month horizon" adding that "the regime of buying the dips might be over and selling any rallies might be the new one." So don't buy dips yet somehow the S&P will rise 150 points? Fair enough. Today, it is Citigroup's turn to try to somehow predict both a 12% "gain for global equities in 2016" even as it tells clients to start selling US stocks because "fading EPS momentum and rising Fed funds mean that, after 6 consecutive years of outperformance, we cut the US to Underweight."
Stocks Resume Rout After Massive Chinese Intervention Fails To Lift Shanghai, Calm Traders
Submitted by Tyler Durden on 01/05/2016 06:52 -0500- Auto Sales
- Barclays
- Bond
- Borrowing Costs
- China
- Cleveland Fed
- Consumer Prices
- Copper
- CPI
- Crude
- Crude Oil
- Economic Calendar
- Equity Markets
- European Central Bank
- Federal Reserve
- fixed
- France
- Germany
- Global Economy
- headlines
- High Yield
- Iran
- Italy
- Jim Reid
- Middle East
- Nikkei
- Non-manufacturing ISM
- Prudential
- RANSquawk
- Real estate
- Recession
- Reuters
- Saudi Arabia
- Shenzhen
- Unemployment
- Volatility
- Yen
- Yuan
After yesterday's historic -6.9% rout in the Shanghai Composite, which saw the first new marketwide circuit breaker trading halt applied to Chinese stocks (on its first day of operation), many were wondering if the Chinese government would intervene in both the once again imploding stock market, as well as China's plunging and rapidly devaluing currency. And, after the SHCOMP opened down -3%, the government did not disappoint and promptly intervened in both the Yuan as well as the stock market, however with very mixed results which global stocks took a sign that the "national team" is no longer focused solely on stocks, and have resumed selling for a second consecutive day.
Some Canadians May Eat Themselves To Death Unless Oil Prices Rise, Doctor Warns
Submitted by Tyler Durden on 01/04/2016 21:00 -0500In the heart of Canada's oil patch, suicide rates are on the rise, property crime is soaring, and food bank usage is at all time highs. In case Albertans didn't have enough to worry about as their economy collapses under the weight of lower for longer crude, one doctor now warns that a protracted recession could cause an obesity epidemic.
With A Straight Face, US Government "Finds" Number Of Retiring 20-24 Year-Olds Has Doubled
Submitted by Tyler Durden on 01/04/2016 20:26 -0500For Americans between the ages of 20 and 24, the share of those sidelined over the past decade because they were in school increased, unsurprisingly, during the decade that included the Great Recession. What's more unusual is that the share of 20- to 24-year-olds who say they're retired doubled from 2004 to 2014.




