• Phoenix Capital...
    10/30/2014 - 10:10
    The Fed has ended QE. And it won’t be launching a new program anytime soon. So when this rally ends and stocks collapse, the Fed won’t be coming to the rescue.

Tyler Durden's picture

Why We're Poorer: Inflation And Deflation Are Now Globalized





We're being hit with a double-whammy: Wages are under deflationary pressure, and almost everything else is exposed to inflationary pressure.  No wonder we feel poorer: most of are poorer.

 
GoldCore's picture

"Gold Is A Good Place To Put Money These Days" - Greenspan





Greenspan told the CFR that "gold is a good place to put money these days given it's value as a currency outside of the policies conducted by governments." "Gold has always been accepted without reference to any other guarantee." When asked where the price of gold was headed in the next five years he said “higher --- measurably" ...

 

 
Tyler Durden's picture

Gold Drops Below $1200 On Heavy Volume, Silver Freefalls To Feb 2010 Lows





It appears the machines forgot the shift in DST across the pond and started their European close flush a little early. Someone/something decided it was an opportune time to dump thousands of contracts of gold and silver futures this morning - clearly ignoring Alan Greenspan's advice. Gold ETF holdings are now back at levels first seen in April 2009. Gold's break below $1,200 likely brought some momentum chasers but Silver is in freefall, down over 5% and back to Feb 2010 lows. WTI Crude also broke below the crucial $81 level...

 
Tyler Durden's picture

BusinessWeek Wants YOU To Become A Keynesian Debt Slave





And then there is BusinessWeek, which quite to the contrary, is urging its readers in its cover story, ignore common sense, and do more of the same that has led the world to dead economic end it finds itself in currently. In fact, it is, in the words of NYT's Binyamin Appelbaum, calling the world governments to become the slaves of a defunct economist.  And spend, spend, spend, preferably on credit. Because, supposedly, this time the resulting crash from yet another debt-funded binge will be... different?

 
Tyler Durden's picture

Monetary Lunacy At Work: IMF Puts 0.05% "Floor" Under SDRs





No negative rates for the putative Bancor... Keynes must surely be rotating in his grave. It turns out the IMF is not going to lend SDRs for less than nothing, thus breaking ranks with some well-known central banks out there. Instead, the IMF has decided to set a floor for its SDR interest rate to maintain its role as a profit center…it will be at what is nowadays a downright usurious height of 0.05%.

 
Phoenix Capital Research's picture

Stocks Are On Borrowed Time





The Fed has ended QE. And it won’t be launching a new program anytime soon. So when this rally ends and stocks collapse, the Fed won’t be coming to the rescue.

 
Tyler Durden's picture

A Glimpse Inside The FX "Cartel's" Chat Rooms





First it was Libor, then gold, then dark pools, now for those who want a glimpse into just how for years bank FX traders, whether belonging to "The Cartel" or "The Bandits Club" or otherwise, colluded on trades around the daily fix, breached fiduciary duty, and generally engaged in illegal rigging of the world's largest market by volume, Bloomberg News had received a transcript of the instant-messages by various FX traders currently being investgated for FX rigging. Here are some excerpts.

 
Tyler Durden's picture

Dow Is Up 110 Points, Visa Is 120 Of Them





Broad-based strength... as Pisani might say.

 
Tyler Durden's picture

Stocks Decouple From Bonds, Ramp To Pre-FOMC Levels





Now what?

 
Tyler Durden's picture

Russian Ruble Soars Over 5% (Swings Most Since 1998) On Intervention, Rate-Hike Rumors





Having made new record lows for 7 days in a row, various technical triggers, short squeezes, and rumors of Central Bank intervention prompted the Russian Ruble to rally over 5%  - the biggest swing since 1998 as chatter of a very aggressive (greater than 50bp) rate-hike at tomorrow's meeting.

 
testosteronepit's picture

The Wrath of Draghi: First German Bank Hits Savers with Negative Interest Rate





“Punishment Interest” it’s lovingly called in Germany, as the ECB intends to flog savers until their mood improves.

 
williambanzai7's picture

THe ReTuRN OF ALaN GReeDSPaM...





Do not view this with breakfast...

 
Tyler Durden's picture

Why Did Q3 GDP Jump: Thank ISIS And The "War On Terror"





Never let a crisis, or war on terror, go to waste...

 
Tyler Durden's picture

Q3 GDP Rises 3.5% Despite Sharp Slowdown In Consumption, Pushed Higher By Government Spending Spree





Moments ago, the market was expecting Q3 GDP to print at 3.0%, and was pleasantly surprised when instead it got a 3.5% print, sending all risk assets kneejerk higher. However, a quick glance into the components revealed that things were certainly not as they seemed, with Personal Consumption in Q3 actually decreasing notably from Q2's 2.5%, to just 1.8% in Q3, below the 1.9% Expected, and accounting for 1.22% of the 3.54% Q3 GDP, the lowest Personal Consumption boost to GDP since Q2 2012 excluding the infamous Q1 winter vortex quarter. So what happened to boost Q2 GDP if that core driver, the US consumer was not there? Simple. Government stepped in, and stepped in hard, with its 0.83% boost to the bottom line GDP the highest since Q2 of 2009!

 
Tyler Durden's picture

Initial Jobless Claims Average Nears 40-Year Low





Initial claims rose a very modest 3k this week but it does little to change the overall picture of a jobs market where there is no hiring and therefore no firing. The 4-week moving average of initial claims has only been lower than this once in 40 years. Is it any wonder the FOMC is stuck with its hawkish perspective... Continuing claims rose 33k to 2.384 million, missing expectations by the most since August - but still hovering near cycle lows.

 
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