Tyler Durden's picture

Fed Chickens Out Again, Fails To Raise For 55th Consecutive Time - FOMC Statement Comparison

With a 54-0 record without a rate hike (better than Floyd Mayweather's), and 58 Economisseds expecting no change, 3 a half-pregnant 13bps hike, and 53 expecting a 25bps hike, The Fed was always going to break someone's heart today. Bond yields and the USD were tumbling into the decision, which appeared correct as The Fed chickened out again...


Given the "no hike", it is clear that, as we noted, Goldman is still in charge and Hilsy is still leaker-in-chief. All eyes now on the dot-plots as The Fed desperately tries to regain some credibility, stifle uncertainty, and calmly reassure markets that "we've got your back."

Pre-FOMC: S&P Futs 2000.5, 10Y 2.26%, 2Y 77.5bps, EUR 1.1330, Gold $1118

GoldCore's picture

Gold Near Highs In Currencies Globally - Terrorism, War and Currency Devaluations

Today, most of the developing world, tomorrow most of the developed world. Today Ukraine, Syria, South Africa and Brazil. Tomorrow Ireland, Greece, the UK, the EU, other Middle Eastern and African nations and the U.S. (see important charts) 

Tyler Durden's picture

For Canadian Oil Sands It's Adapt Or Die

That low oil prices are squeezing out oil sands producers is not breaking news. But in spite of a grim oil price outlook, production out of Calgary has continued to grow, defying both expectations and logic. The implications are serious, not just for the future of Canada’s energy industry and economy, but also North American energy relations.

Tyler Durden's picture

Public School Students Are The New Inmates In The American Police State

If you want a nation of criminals, treat the citizenry like criminals. If you want young people who grow up seeing themselves as prisoners, run the schools like prisons. But if you want to raise up a generation of freedom fighters, who will actually operate with justice, fairness, accountability and equality towards each other and their government, then run the schools like freedom forums. Remove the metal detectors and surveillance cameras, re-assign the cops elsewhere, and start treating our nation’s young people like citizens of a republic and not inmates in a police state.

Tyler Durden's picture

Jeffrey Brown: To Understand The Oil Story, You Need To Understand Exports

Despite the attention-grabbing economic volatility that is dominating headlines, it's important to keep our eye on the energy story firmly in focus. This is especially true as the headlines we regularly read about Peak Oil being dead " are "manifestly false" according to petroleum geologist Jeffrey Brown. As concerning as the fact that global oil production has plateaued over the past decade, despite trillions invested in trying to goose it higher, are Brown's forecasting model for oil exports. His Export Land Model shows how rising internal consumption can swing (and has swung) countries from major exporters to permanent importers within a dizzyingly short period of time.

Tyler Durden's picture

Telegraph Calls UK's New Shadow Chancellor "Nutjob", Promptly Retracts

The UK Labor Party's new leader Jeremy Corbyn has, rather unsurprisingly, is making controversial headlines already. His appointment of John McDonnell - an outspoken opponent to the independence of central banks: "in the first week of a Labour government, democratic control of the major economic decisions would be restored by ending the Bank of England’s control over interest rates," - as shadow chancellor has been met with derision in the British press. Initially described as a "nutjob" by The Telegraph, McDonnell's 'plan' to close the deficit is simple - instead of cutting spending, he will dramatically raise taxes on businesses and the rich. The Telegraph then watered-down their perspective, we think, slamming McDonnell's policy as "cloud cuckoo land economics."

Tyler Durden's picture

Futures Fade Early Euphoria After Chinese Stocks Resume Slide

While any moves in the US stock market ahead of Thursday are largely irrelevant, as only Yellen's statement in 4 days will unleash epic algo buying or short covering (yes, according to JPM the Fed statement is bullish no matter what), it is what happened in China that is concerning, because while we had expected Chinese stocks to go nowhere in particular now that index future trading volumes have plunged by 99% or perhaps rise on hopes of even more easing after the latest terrible economic data, the Shanghai Composite dropped 2.7%, but it was the retail darling Shenzhen Composite which tumbled 6.7% - its worst selloff since August 25, while China's Nasdaq, the ChiNext crashed -7.5%.

Tyler Durden's picture

Dependence On Central Banks Is "Unrealistic And Dangerous", BIS Warns

"All this points to weaknesses in domestic and international policy arrangements - arrangements that have so far been unable to constrain sufficiently the build-up and unwinding of hugely damaging financial booms and busts across countries.Hence a world in which debt levels are too high, productivity growth too weak and financial risks too threatening. This is also a world in which interest rates have been extraordinarily low for exceptionally long and in which financial markets have worryingly come to depend on central banks' every word and deed, in turn complicating the needed policy normalisation. It is unrealistic and dangerous to expect that monetary policy can cure all the global economy's ills."

Tyler Durden's picture

US Military Admits It "Misplaced" Black Plague Samples

"We're trying to be as forthcoming as we can be right now without alarming the public"...

Tyler Durden's picture

Why Apple’s Launch Event Was "Creepy As Hell"

The Apple Launch is a closed circle of fawning sycophants, thrilled with gimmicks, adapted to computers, programmed, a throng of identical authentic individuals chained to their machines and congratulating themselves on being ‘connected,’ led by a human that resembles a robot. Two hours of watching the Apple Launch actually made the Manson Family seem homey.

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