• GoldCore
    08/04/2015 - 06:08
    The headlines are dramatic, ugly and depressing to anyone who holds gold right now. Broad market sentiment has shifted from disdain and dismissive to highly negative. Hedge funds are shorting gold...

Wall Street Journal

Tyler Durden's picture

How Student Loans Create Demand For Useless Degrees





Last week, former Secretary of Education and US Senator Lamar Alexander wrote in the Wall Street Journal that a college degree is both affordable and an excellent investment. He repeated the usual talking point about how a college degree increases lifetime earnings by a million dollars, “on average.” That part about averages is perhaps the most important part, since all college degrees are certainly not created equal. In fact, once we start to look at the details, we find that a degree may not be the great deal many higher-education boosters seem to think it is.

 
Tyler Durden's picture

When It Comes To Total Debt, Greece Is Not That Much Worse Than France (Or The USA)





Now that even the IMF has admitted Greece has an unsustainable debt problem with a debt-to-GDP ratio which will soon cross 200% after its third bailout (even if it leaves open the question what the IMF thinks about Japan's debt "sustainability") we wonder what the IMF thinks when looking at Greece's net government liabilities, which as SocGen's Albert Edwards reminds us are rapidly approaching 1000%. Which incidentally means that Greece is only marginally better than the USA, whose comparable net liability is a little over 500%, while its other nearest comparable is none other than France, whose next president may will be "Madame Frexit" and whose biggest headache will be how to resolve government promises to creditors and retirees that are five times greater than the country's GDP.

 
Tyler Durden's picture

"Bank Lives Matter" – Obama Administration Moves To Protect Mega Bank Profits





It’s not even “Too Big to Jail” any longer. It’s now, “Too Big to Lose Profits.” After all #banklivesmatter

 
Tyler Durden's picture

Law Firm Stops Hiring Ivy League Grads, Demands "Gritty Street Lawyers"





Having taken on hundreds of thousands of dollars worth of loans to achieve the ultimate goal of becoming an Ivy League law graduate, it appears, in at least one case, that your abilities are not required. As WSJ reports, Adam Leitman Bailey, a Manhattan attorney who runs a real estate firm, says he looks to hire law school graduates who have grit, ambition and a resolve to succeed in the legal profession. For that reason, he says, his firm has instituted a rule: If your resume lists your law school as Yale, Harvard, Columbia, Cornell or University of Pennsylvania, you need not apply because you won’t get the job.

 
Tyler Durden's picture

How Likely Is Hyperinflation In The U.S?





Hyperinflation in the U.S. is coming sometime in the next 20 years or so, and this isn't a cry from a Chicken Little, but a conclusion that the analysis strongly suggests. It is possible hyperinflation could happen during the next few years, but that seems unlikely since it would require a series of major crises and political blunders – events unprecedented in the history of the United States. If this led to a corruption of Constitutional rights in the midst of an exaltation of the Executive Branch that resulted in loss of the rule of law, hyperinflation might result. It is much more probable that hyperinflation will be preceded by a long slow decline that will include a protracted period of high inflation, and that the crash of the dollar and hyperinflation will be the final tumble off a looming, steep cliff.

 
Tyler Durden's picture

Deutsche Bank Stunner: An Inside Look At Former CEO's Role In Liborgate





"Mr. Jain created an environment by the physical and functional restructuring of the business GFFX division in the year 2005, involving also a change in the seating order of the trading floor in London which he initiated in which conflicts of interest between traders and submitters arose or were strengthened. There is suspicion that Mr. Jain might have knowingly made incorrect statements in his IBOR related Interview with the Deutsche Bundesbank."

 
Tyler Durden's picture

Deutsche Bank Stunner: An Inside Look At Former CEO's Role In Liborgate





"Mr. Jain created an environment by the physical and functional restructuring of the business GFFX division in the year 2005, involving also a change in the seating order of the trading floor in London which he initiated in which conflicts of interest between traders and submitters arose or were strengthened. There is suspicion that Mr. Jain might have knowingly made incorrect statements in his IBOR related Interview with the Deutsche Bundesbank."

 
Tyler Durden's picture

White House Cuts 2015 GDP Outlook By 33%





Despite President Obama's hubris over the 'recovery', his crowing about the jobs record, and his insistence that while "there's more to be done," everything is awesome, The White House just took the meat-cleaver to its US economic growth forecasts...cutting 2015 growth from 3% to 2%. That was not all though as their forecasts see no recession until at least 2025, unemployment under 5.0% for at least the next decade, stable inflation for 10 years, and last but not least - a 3-month T-Bill rate of over 3% within the next few years.

 
Tyler Durden's picture

WSJ Notes "Chances That China's Data Is Real Is Very Low" Then Promptly Scrubs It





Now you see it: "The chances that that data is real is very low," said Alicia Garcia Herrero, Natixis's chief economist for the Asia-Pacific region. "Would you publish GDP data that looks south at this point in time? I don't think so."

Now you don't.

 
Tyler Durden's picture

Miners Buried In Billions Of Debt After "Colossal Misjudgment Of Demand"





"There’s been a colossal misjudgment of future demand. That long boom made it especially difficult for people to expect anything otherwise. Many bought the big story about urbanization, instead of thinking how things could go bad."

 
Tyler Durden's picture

US Automakers Worst Nightmare: Chinese Auto Inventories Explode In May





A week ago we exposed the massive number of cars piling up in GM's parking lots in China. A few days later, we note that Chinese auto sales have collapsed at the fastest rate in 3 years and an increasing number of new orders are being cancelled as the stock market crashes. But the triple whammy for US auto manufacturers - who have incessantly pitched China as their growth engine - is news from Huaxia Times that China's import car dealers saw inventory days reach a mind-blowing 143 days in May. For context, the normal average has been 24-36 days. Once again it appears the serial extrapolators at the automakers, excited by the serial extrapolators at the big banks have excitedly mal-invested right at the turn.

 
Tyler Durden's picture

Don't Feed The Zombies...





Headline reports give you only the public stories – simpleminded narratives that even voters can understand. The hidden story – and the real story – is that these are all clashes, battles, and skirmishes in the Great Zombie War. On the one side: honest workers, businesses, entrepreneurs, and households. On the other: fixers, meddlers, thieves, layabouts, and criminals. Is it really that easy to understand? Probably not. But it helps us put things in perspective.

 
Tyler Durden's picture

Get Rich Or Go Broke Trying: Rapper 50 Cent Files For Bankruptcy





In January, Curtis Jackson, aka 50-Cent, appeared on CNBC proclaimed as a multi-platinum rapper, and also a successful entrepreneur with a range of businesses. Just six months later he is broke, as WSJ reports, he filed for chaper 11 bankruptcy protection today. Court papers (below) show the rapper's assets and debt in the range of $10 to $50 million (after WaPo reported his net worth "at nearly half a billion dollars" in 2007). The bankruptcy filing comes just days after a jury directed Jackson to pay $5 million to the ex-girlfriend of a rap-rival over a sex-tape.

 
Tyler Durden's picture

Hillary Clinton Explains Her Leftist Framework For A "Fairer" Economy - Live Feed





Hillary Clinton is set to deliver her first economic policy speech in what is sure to be wonderfully leftist 'fair and balanced' populist attack on her financial backers (the banks) in favor of her minions (everyday Americans). The somewhat confusing leaks about the speech suggest growth through tax cuts for small business and government infrastructure spending which would be funded by higher taxes on the wealthy (small businesses) and minimuj wage hikes (ouch small businesses). Grab your popcorn (and the inflight vomit bag) and enjoy...

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