Unemployment
Inflation Soars To 12-Year High In Brazil As Supreme Court Jumps Into Impeachment Fight
Submitted by Tyler Durden on 12/09/2015 11:16 -0500Following a roudy session in Congress that nearly dissolved into "chaos," the Brazilian Supreme Court suspended impeachment proceedings against President Dilma Rousseff until December 16. Meanwhile, annual inflation rose to 10.5% in November, the highest in 12 years as the country's stagflationary nightmare continues unabated.
ECB's Nowotny Blames "Massive Failure Of Market Analysts" For Last Week's Unprecedented Hedge Fund Losses
Submitted by Tyler Durden on 12/09/2015 07:22 -0500"I think it was really a massive failure of market analysts," Nowotny told a news conference, adding that those analysts should have paid more attention to economic fundamentals. The comedy continued when Nowotny said that "the ECB can and will not let itself be pushed by the markets," adding that "it’s not our job to correct wrong expectations of individuals” and “it wasn’t the view of the whole market." Which, of course, was a lie.
Anatomy of an Oligopoly: the Beer Industry
Submitted by Sprott Money on 12/09/2015 05:57 -0500Why does most brand-name beer taste like swill? Why has the standard of living across most of the Western world fallen by more than half over the past 40+ years?
America's Reckless Fight Against Evil: Six Mistakes On The Road To Perpetual War
Submitted by Tyler Durden on 12/08/2015 21:30 -0500Why do we as a nation keep on playing into the same dismal scenario and committing the same mistakes? Why this seemingly irresistible urge to fight yet another war against evil? The longer we fight, the more deeply we are seized by fear. The more we fear, the more fiercely we are determined to fight. Perhaps the point is not to win the war but to remain trapped in this vicious circle, which feels perversely comforting because it offers a sense of unified national identity as nothing else can in our otherwise deeply divided nation.
Peter Schiff Warns: "The Whole Economy Has Imploded... Collapse Is Coming"
Submitted by Tyler Durden on 12/07/2015 21:17 -0500"We’re broke. We’re basically living off of debt. We’ve had a huge transformation of the American economy. Look at all the Americans now on food stamps, on disability, on unemployment... The whole economy has imploded... the bottom hasn’t dropped out yet because we’re able to go deeper into debt. But the collapse is coming."
Bernie Sanders & The "Tyranny" Of Working For A Living
Submitted by Tyler Durden on 12/07/2015 17:40 -0500The dream and demand of Bernie Sanders and all of the other "democratic socialists" of all political parties is that all or at least significant parts of human life need to be micromanaged and controlled by government so people may be liberated from the "tyranny" of not having all they may want without finding effective ways of acquiring it through honest and peaceful work. The "freedom" about which Bernie Sanders speaks, and before him Franklin Roosevelt, in fact, involves a loss of liberty into an even greater degree of political paternalism.
The Era Of The Rock-Star Central Banker Is Far From Over
Submitted by Tyler Durden on 12/07/2015 12:53 -0500Paul Volcker and Alan Greenspan were the Elvis and Beatles of this movement – the first to see widespread fame for their efforts. Then came Ben Bernanke, perhaps the Jimi Hendrix or Led Zeppelin of his day, taking existing tools and pushing them in new, previously unconsidered, directions. Now, we have Janet Yellen and Mario Draghi, whose legacies are as yet undefined. They may end up like the next generation of rock stars from the 1970s – something like Bruce Springsteen, with a deep focus on common people in his music. Or, they could be the Bee Gees, who focused simply on commercial success. Only time will tell.
European, Asian Stocks Jump As Iron Ore Joins Oil Below $40 For First Time Since May 2009
Submitted by Tyler Durden on 12/07/2015 06:57 -0500- Australia
- Bank of International Settlements
- Barclays
- BOE
- Bond
- China
- Consumer Credit
- Copper
- Crude
- Crude Oil
- default
- Economic Calendar
- Equity Markets
- France
- goldman sachs
- Goldman Sachs
- headlines
- High Yield
- Indiana
- Iraq
- Japan
- Jim Reid
- Market Conditions
- Monetary Policy
- NASDAQ
- Nikkei
- OPEC
- Precious Metals
- Price Action
- Prudential
- RANSquawk
- Recession
- recovery
- St Louis Fed
- St. Louis Fed
- Trade Deficit
- Unemployment
With Draghi's Friday comments, which as we noted previously were meant solely to push markets higher, taking place after both Europe and Asia closed for the week, today has been a session of catch up for both Asian and Europe, with Japan and China up 1% and 0.3% respectively, and Europe surging 1.4%, pushing government bond yields lower as the dollar resumes its climb on expectations that Draghi will jawbone the European currency lower once more, which in turn forced Goldman to announce two hours ago that it is "scaling back our expectation for Euro downside."
It Begins: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens
Submitted by Tyler Durden on 12/06/2015 21:25 -0500- Australia
- Bank of England
- Ben Bernanke
- Ben Bernanke
- Central Banks
- European Central Bank
- Finland
- fixed
- Germany
- Great Depression
- Greece
- HIGHER UNEMPLOYMENT
- International Monetary Fund
- Ireland
- Janet Yellen
- Japan
- Krugman
- Larry Summers
- Milton Friedman
- Monetary Base
- Monetary Policy
- Moral Hazard
- None
- Output Gap
- Recession
- SocGen
- Sovereign Debt
- The Economist
- Turkey
- Unemployment
Over the last few months, in a prime example of currency failure and euro-defenders' narratives, Finland has been sliding deeper into depression. Almost 7 years into the the current global expansion, Finland's GDP is 6pc below its previous peak. As The Telegraph reports, this is a deeper and more protracted slump than the post-Soviet crash of the early 1990s, or the Great Depression of the 1930s. And so, having tried it all, Finnish authorities are preparing to unleash "helicopter money" to save their nation by giving every citizen a tax-free payout of around $900 each month!
NYT Reports On The "Biggest Risk Facing China" As Beijing Launches "Unprecedented" Crackdown On Angry Workers
Submitted by Tyler Durden on 12/06/2015 21:00 -0500“There have been arrests and crackdowns before on grass-roots labor organizations here,” one activist, He Shan, said in a telephone interview from Shenzhen, a mainland city that abuts Hong Kong. “But this is the most concentrated, the most serious. For us, this is unprecedented.”
The Problem With "Rules-Based" Monetary Policy
Submitted by Tyler Durden on 12/06/2015 20:20 -0500Monetary policy 'rules' are no more accurate at determining interest rates than meteorologists are at forecasting the weather. The only difference between the two is that weathermen are precise on occasion, whereas the federal funds rate under the Taylor Rule is, at best, less wrong. Setting the price of money and credit in the name of unleashing the economy’s supposed potential output is the equivalent of enacting price controls on milk to unlock its full buying power. It’s a fallacy that cannot be achieved. The sooner the Fed pawns off its printing press, the sooner its market distortions will be lifted; and the sooner that each individual will be able to make rational decisions that make sense for not only himself or herself, but for the economy at large as well.
JPMorgan Warns Of "Eye-Catching" 76% Probability Of Recession
Submitted by Tyler Durden on 12/05/2015 18:05 -0500Just days ago Citi pronounced, much to the chagrin of the status-quo-hugging Fed faithful, that given the turn in corporate profits (and concerns over margin sustainability) that the chance of a recession in the US had risen to 65% (and on that basis had a bearish outlook for US equities). Now, as other major sell-side shops jump on the equity un-bullish narrative, JPMorgan's Michael Feroli warns that in the past, a low unemployment rate, rising compensation, falling margins, and elevated durables investment have historically signaled an elevated risk that an expansion is nearing its end... and puts the probability of a US recession within 3 years at 76%. Of course, you do not need to worry, because Janet Yellen said this is not true (though failed to provide here reasoning).
For Citi, This Is The "Greatest Event Risk" For Markets In 2016
Submitted by Tyler Durden on 12/04/2015 20:30 -0500"In the year ahead, geopolitics likely poses the greatest potential to disrupt markets in terms of event risk. There is also the potential for geopolitical risks to intersect with economic fragility in the event of a downturn, amplifying both."
Weekend Reading: Market Forecasting
Submitted by Tyler Durden on 12/04/2015 16:30 -0500The mainstream media is increasingly suggesting that we have once again entered into a 'Goldilocks Economy.' The problem is that in the rush to come up with a 'bullish thesis' as to why stocks should continue to elevate in the future, they have forgotten the last time the U.S. entered into such a state of 'economic bliss.' You might remember this: "The Fed's official forecast, an average of forecasts by Fed governors and the Fed's district banks, essentially portrays a 'Goldilocks' economy that is neither too hot, with inflation, nor too cold, with rising unemployment." - WSJ Feb 15, 2007. Of course, it was just 10-months later that the U.S. entered into a recession followed by the worst financial crisis since the 'Great Depression.'
Wage Gains: For Your Boss - Yes; For You - Not So Much
Submitted by Tyler Durden on 12/04/2015 10:18 -0500The next time you wonder where the Fed Chairwoman is seeing wage growth, the answer is simple: they are looking at your boss' paycheck, yours... not so much.



