• GoldCore
    07/01/2015 - 10:07
    With all eyes on Greece it would seem another crisis relating to unpayable debt is brewing in the Caribbean. The governor of Puerto Rico, Alejandro García Padilla, has warned that the island is...

recovery

Tyler Durden's picture

The "Smartest Money" Is Liquidating Stocks At A Record Pace: "Selling Everything That’s Not Bolted Down"





Buyout firms conducted 97 stock offerings in the second quarter, more than in any other three-month period. "It’s clear that we are currently in an environment of frothy valuations,” said Lise Buyer, founder of IPO advisory firm Class V Group. Her disturbing punchline: "The insiders - those with the most knowledge - are finding this a very good time to take some money off the table." In an echo of Leon Black, Frank Maturo, vice chairman of equity capital markets at UBS AG, said, “Private equity is selling everything that’s not bolted down."

 
Tyler Durden's picture

The Current Oil Price Slump Is Far From Over





The oil price collapse of 2014-2015 began one year ago this month (Figure 1).  The world crossed a boundary in which prices are not only lower now but will probably remain lower for some time. It represents a phase change like when water turns into ice: the composition is the same as before but the physical state and governing laws are different. The market must balance before things get better and prices improve. That can only happen if production falls and demand increases. That will take time. The most likely case is that oil prices will decrease in the second half of 2015 and that financial distress to all oil producers will increase. The hope and expectation that the worst is over will fade as the new reality of prolonged low oil prices is reluctantly accepted.

 
Tyler Durden's picture

Jim Bianco Rages "The Recovery Ship Sailed", Bashes Big Govt Believers, Slams Greek Risk 'Deniers'





"Today is Day 1 of Year 7 of the 'recovery', and yet economists everywhere proclaims 3% growth is just around the corner," rages Jim Bianco as he addresses what 'bugs him', exclaiming "that ship has sailed." Bianco and Santelli go on to slay Keynesian big government dragons and the incessant bullshit from officials like Jack Lew who opine on Greece and other potential systemic risks as being a non-event - "what is priced in is that everything will work itself out at the 11th hour," leaving a huge asymmetric risk. Well worth the price of admission...

 
Tyler Durden's picture

Leaked Troika Documents Show Greece Needs Huge Debt Relief





Just when you think things can’t get any crazier, they always do. The Guardian reports on unpublished Troika documents that show Greece is only too right in asking for debt relief. That for the Syriza government to sign what the Troika wants to force them to sign would see Tsipras et al plunge their country into a financial hell hole.

 
Tyler Durden's picture

"Off The Grid" Indicators Suggest US Economy Not Ready For 'Liftoff'





Every quarter ConvergEx's Nick Colas reviews a raft of unusual and less examined datasets with an eye to refining and adding perspective to the more traditional macroeconomic analyses. This quarter’s assessment of everything from large pickup truck and firearms sales to Google search autofills for “I want to buy/sell” shows a U.S. economy that is reasonably strong but growing only very slowly. The chief areas of concern: Food Stamp participation is still very high at 45.6 million Americans (14% of the total population) and indicators like used car prices and large pickup sales are flat.

 
Tyler Durden's picture

Frontrunning: June 30





  • EU in last-ditch bid to Greece, urges "yes" vote to bailout (Reuters)
  • In? Out? In between? A Greek legal riddle for EU (Reuters)
  • Tsipras Says EU Won’t Eject Greece as Cost ‘Immense’ (BBG)
  • Empty Greek ATMs Force Tourists to Stiff Santorini Cabbies (BBG)
  • Anti-austerity protests in Greece as bank shutdown bites (Reuters)
  • Puerto Rico governor calls for bankruptcy; adviser says island 'insolvent' (Reuters)
  • Puerto Rico Urges Concessions From Creditors (WSJ)
  • Hilsenrath - For Fed to Delay Rate Hikes, Global Tumult Would Need to Infect U.S. (WSJ)
 
Tyler Durden's picture

Is The American Youth Ready For Conscription?





The shining future that America once had is all but a page note in the history books now. Record numbers not in the workforce, failed foreign policies and domestic strife is the new normal. And how is the brain trust in DC going to solve these problems? National service for all 18 - to 28-year-olds!

 
Tyler Durden's picture

China Makes It Official, Launches The Bank That Humiliated Washington





Four months after the UK opened the membership floodgates and dealt Washington a humiliating political blow, China has officially launched the Asian Infrastructure Investment Bank.

 
Tyler Durden's picture

Systemic Turmoil, Structural Reform





In the natural course of things, structural reform can occur, but that natural course entails some degree of disorder and loss.

 
Phoenix Capital Research's picture

The Next Round of the Great Crisis Has Just Begun





The next round of the great crisis is here. 2008 was just A Crisis… we've just begun THE Crisis.

 
 
GoldCore's picture

Grexit?, BIS Warning, Chinese Market Crash & Systemic Risk Shake the Global Economy





All banks and the Greek stock exchange are closed today. Greek citizens cued in long lines at ATMs or cash machines over the weekend and a run on the banks left most ATMs empty. There is a €60 limit on withdrawals from cash machines under strict capital controls. 

 
Tyler Durden's picture

The Bush Family Goes "All In" For Number Three (With The Help Of Its Bankers)





It’s happening. As expected, dynastic politics is prevailing in campaign 2016. After a tease about as long as Hillary’s, Jeb Bush (aka Jeb!) officially announced his presidential bid last week. Ultimately, the two of them will fight it out for the White House, while the nation’s wealthiest influencers will back their ludicrously expensive gambit. And here’s a hint: don’t bet on Jeb not to make it through the Republican gauntlet of 12 candidates (so far). After all, the really big money’s behind him.

 
Tyler Durden's picture

America Is Its Own Worst Enemy - Trapped In Irrational Exuberance





Yes, the clock’s ticking louder, louder, warns the Economist, “only a matter of time before the next recession strikes.” Unfortunately, the “rich world is not ready.” America’s not prepared. You are not ready.

 
Tyler Durden's picture

Does 1987 Have Any Lessons For Today?





Here's how it plays out... "no one gets out of this alive"

 
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