As BofA admits, "this sell-off differs from a typical growth scare in that parts of the recession playbook are failing miserably." So until we have clarity on whether or not this is a garden variety correction or a true bear market, here is BofA's advice on what to own in an "equity death spiral"
Three pressing questions about Bitcoin and blockchain answered
Draghi could go nuts, as sinking oil prices are pushing inflation towards zero in Europe...
"Panic is building, most likely setting the stage for a rally, but the missing ingredient here is growth. With analysts cutting estimates at an accelerating rate, increasing China risks and no apparent floor for oil prices, we remain cautious on our near term outlook for stocks."
There’s really one supreme element of this story that you must keep in view at all times: a society (i.e. an economy + a polity = a political economy) based on debt that will never be paid back is certain to crack up. Its institutions will stop functioning. Its business activities will seize up. Its leaders will be demoralized. Its denizens will act up and act out. Its wealth will evaporate. Given where we are in human history - the moment of techno-industrial over-reach - this crackup will not be easy to recover from. Things have gone too far in too many ways. The coming crackup will re-set the terms of civilized life to levels largely pre-techno-industrial. How far backward remains to be seen.
On The Trail Of Dubai's Stolen Gold: A Robbed Client Breaks The Silence, And A Fascinating Detail EmergesSubmitted by Tyler Durden on 01/02/2016 17:23 -0400
The deeper we dig into the story of Dubai's vaporized gold, the more skeletons just tumble out of the closet on what may be the world's biggest gold smuggling ring ever, one involving not just Turkey and Iran, but the mother of all gold smuggling: China itself...
At the end of the day, the current preposterous $325 billion market cap has nothing to do with the business prospects of this firm or the considerable entrepreneurial prowess of its leader and his army of disrupters. It is more in the nature of financial rigor mortis - the final spasm of the robo-traders and the fast money crowd chasing one of the greatest bubbles still standing in the casino.
In 2015, the iron fist of power clamped down on humanity, from warfare to terrorism to surveillance, police brutality, and corporate hegemony. The environment was repeatedly decimated, the health of citizens was constantly put at risk, and the justice system and media alike were perverted to serve the interests of the powers that be. However, while 2015 was discouraging for more reasons than most of us can count, many of the year’s most underreported stories evidence not only a widespread pattern that explicitly reveals the nature of power, but pushback from human beings worldwide on a path toward a better world.
Two Thousand Fifteen had high hopes at the start, but a sharp selloff in August nearly ripped us apart; Then Draghi and Yellen swore that hope hadn't departed, so we stuttered and sputtered to just get back where we started.... Hoverboards were this season's really, really hot toy; And Bruce Jenner's now Caitlyn - he's no longer a boy
We apologize, but 2015 had so many negatives that we’re having trouble seeing the positives. It’s like we’re on the Titanic, and it’s tilting at an 85-degree angle with its propellers way up in the air, and we’re dangling over the cold Atlantic trying to tell ourselves: “At least there’s no waiting for the shuffleboard courts!” Are we saying that 2015 was the worst year ever? Are we saying it was worse than, for example, 1347, the year when the Bubonic Plague killed a large part of humanity? Yes, we are saying that.
Following the yellow brick road leads us deep, very deep inside the rabbit hole...
With all the action in Syria, the Ukraine is no longer a subject for discussion in the West. In Russia, where the Ukraine is still a major problem looming on the horizon, and where some 1.5 million Ukrainian refugees are settling in, with no intentions of going back to what's left of the Ukraine, it is still actively discussed. But for the US, and for the EU, it is now yet another major foreign policy embarrassment, and the less said about it the better. In the meantime, the Ukraine is in full-blown collapse - all five glorious stages of it - setting the stage for a Ukrainian Nightmare Before Christmas, or shortly after.
This Is Canada's Depression: Surging Crime, Soaring Suicides, Overwhelmed Food Banks "And The Worst Is Yet To Come"Submitted by Tyler Durden on 12/24/2015 00:44 -0400
The news out of Canada - and especially out of Alberta, the heart of the country's oil patch - has just gone from disturbing to downright terrifying.