• Tim Knight from...
    02/06/2016 - 00:25
    What we must remember is this: we are in a bear market, and the risk of a countertrend rally is present, but confined. The opportunity on the downside movement dwarfs the risk of a push higher, as...

Foreclosures

Foreclosures
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"How Bad Can Texas Get?" Goldman Answers





As we put it on Friday, "the Texas recession is only in its early innings," because we are just now beginning to witness the bankruptcies and shut-ins that will soon become endemic and sweep across the entire US oil patch as revolvers are reigned in and Wall Street suddenly refuses to finance uneconomic producers' funding gaps. So how bad can things get in Texas, you ask? Goldman has ventured a guess.

 
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Canada's "Other" Problem: Record High Household Debt





"Household vulnerabilities could be exacerbated by a severe recession that is accompanied by a widespread and prolonged rise in unemployment. This could reduce the ability of households to service their debt and cause serious and broad-based declines in house prices."

 
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Futures Resume Slide After Oil Tumbles Below $35, Natgas At 13 Year Low; EM, Junk Bond Turmoil Accelerates





With just 72 hours to go until Yellen decides to soak up to $800 billion in liquidity, suddenly we have China and the Emerging Market fracturing, commodities plunging, and junk bonds everywhere desperate to avoid being the next to liquidate.

 
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Living A Lie





The lies we tell ourselves are only exceeded by the lies perpetrated by those controlling the levers of our society. The country has been living a Big Lie since the day Nixon closed the gold window in 1971, eliminating any vestiges of constraint upon central bankers and politicians.

 
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America's Road To Serfdom: 51% Of Renters Are Over-40 Years Old





While popular perception holds that debt-ridden, broke millennials are the ones driving the rental market, the truth is far more nuanced... and depressing for those who still cling breathlessly to The American Dream. The truth is millions of Americans were reduced to neo-feudal serfs by the financial crisis, and how those who ruined the economy profited handsomely from the process.

 
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Fourth Turning - Our Rendezvous With Destiny





"Eventually, all of America’s lesser problems will combine into one giant problem. The very survival of the society will feel at stake, as leaders lead and people follow. The emergent society may be something better, a nation that sustains its Framers’ visions with a robust new pride. Or it may be something unspeakably worse. The Fourth Turning will be a time of glory or ruin."

 
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This Thanksgiving, Let's Say "No Thanks" To The Tyranny Of The American Police State





These are abuses that no American should tolerate from its government, and yet not only do we tolerate them, but we help to advance them by supporting meaningless elections, allowing ourselves to be divided by partisan politics, and failing to hold the government accountable to abiding by the rule of law, the U.S. Constitution. Mark these words: if we do not push back against the menace of the police state now, if we fail to hold onto the Constitution and our constitutional republic, and if we allow the government to remain the greatest threat to our freedoms, then future Thanksgivings will find us paying the price with tyranny at home and anarchy throughout the world.

 
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The Poisonous Cocktail Of Main Street Woes And Federal Reserve Liftoff





Sure, the stock market had a great October with the Dow Jones Industrial Average jumping by 8.5%, but the disconnect between Wall Street and Main Street is too stark to ignore, and the Federal Reserve is about to pop the easy-money financial bubble.

 
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Stocks Jump On Hope For More Central Bank Intervention After Japan's Quintuple Recession, Syrian Strikes





As so often happens in these upside down days, was the best thing that could happen to the market, because another economic slowdown means the BOJ, even without sellers of JGBs, will have no choice but to expand its "stimulus" program (the same one that led Japan to its current predicament of course) and buy up if not government bonds, then corporate bonds, more ETFs (of which it already own 50%) and ultimately stocks. Because there is nothing better for the richest asset owners than total economic collapse.

 
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Housing Bubble - Part Deux





The housing recovery without mortgage originations is coming to its inevitable conclusion.

 
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Emerging Markets Slide On Strong Dollar; China Surges On Bad Data, IPOs; Futures Falter





Once again, the two major macroeconomic announcements over the weekend came from China, where we first saw an unexpected, if still to be confirmed, increase in FX reserves, and then Chinese trade data once again disappointed tumbling by 6.9% while imports plunged 18.8%. So how did the market react? The Shanghai Composite Index rose for a fourth day and reached its highest since August 20because more bad data means more easing from the PBOC, and just to give what few investors are left the green light to come back into the pool, overnight Chinese brokers soared after Chinese IPOs returned after a 5 month hiatus. Elsewhere, Stocks and currencies in emerging markets slump on prospect of higher U.S. borrowing costs before year-end and after data underscored slowdown in Asia’s biggest economy. Euro strengthens.

 
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America's Endangered Species: Uneducated, Middle-Aged, White





An article published in the latest issue of the Proceedings of the National Academy of Sciences (PNAS), documents that, ever since 1998 in the U.S, Whites who are of non-Hispanic origin have been dying younger and younger, and that this is especially true for those Whites who are low-educated (non-BA’ed) and middle-aged (45- to 54-year-old). But it’s true also for the other age-categories of non-Hispanic Whites.

 
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