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Tyler Durden's picture

Total Collapse: Greece Reverts To Barter Economy For First Time Since Nazi Occupation





"He is going to pay me back in some sort of product when he is able to, maybe in cheese."

 
Tyler Durden's picture

Fed Mouthpiece Hilsenrath Confirms Inflation Concerns May Delay "Liftoff"





"The Federal Reserve on Wednesday kept interest rates near zero but cited progress in the U.S. job market, a sign it remains on course to raise interest rates in September or later this year. At the same time, however, it flagged a nagging concern about low inflation, which is creating caution among officials and could convince them to delay the day of the first increase."

 
Tyler Durden's picture

Russell Napier: What Happens When Markets Realize China Is A Forced Seller Of Treasuries





"How would US Treasury bulls in the private sector react if they knew in advance that the second largest owner of Treasuries, the PBOC, was a forced seller of Treasuries. Such compelled selling would be obvious before US markets opened each morning as downward pressure on the RMB exchange rate in Asia forced the PBOC to liquidate foreign currency assets to defend the fixed exchange rate. Would even Treasury bulls stand in the way of such a large and predictable liquidation? If they didn’t then the second phase of The Great Reset would come to pass and the decline of EM external deficits would force tighter monetary policy in both EM and DM."

 
Tyler Durden's picture

Frontrunning: July 28





  • Fed Officials May Offer More Clarity on Rates (WSJ)
  • Stocks rebound, shrugging off volatile and weak China (Reuters)
  • Three-Day Selloff Knocks 11% From China Shares (WSJ)
  • China shares fall again as Beijing scrambles to calm markets (Reuters)
  • VAT hikes to make Greek destination less popular (Kathimerini)
  • Varoufakis - Something is rotten with the eurozone’s hideous restrictions on sovereignty (FT)
  • EU denies Varoufakis 'tax control' claims (FT)
 
Gold Standard Institute's picture

Open Letter to Alexis Tsipras





Greece has no future, so long as it clings to the euro. The dollar won't servce you much better. A drachma will only harm the Greek people. That leaves one other option.

 
Tyler Durden's picture

When Scary Headlines Don't Scare - Climbing The Wall Of Complacency





The U.S. economy is growing at a painfully slow pace. Greece still threatens the euro. Chinese stocks have just pulled out of a frightening free-fall. Big companies in the U.S. are struggling to boost profits. You might think it's been a rough year for investors, but it's mostly been a smooth ride - and a profitable one. "Things have worked out," scoffs one analyst "and that has emboldened investors." Maybe too much...

 
Tyler Durden's picture

UBS Exposes The "Scary Reality" Of High Yield Energy





"Central bank quantitative easing drove traditional investors seeking mid-to-high single digit yields out of investment grade/ crossover credit into high yield, loan and emerging market debt to satisfy yield bogeys. The problem, however, is some of the tourists underappreciate the exponential loss and mark-to-market functions for low quality high yield assets."

 
Tyler Durden's picture

Gold and Gibson's Paradox





There is a myth prevalent today that the gold price always falls when interest rates rise. The logic is that when interest rates rise it is more expensive to hold gold, which just sits there not earning anything. And since markets discount future expectations, gold will even fall when a rise in interest rates is expected. With the Fed's Open Market Committee debating the timing of an interest rate rise to take place possibly in September, it is therefore no surprise to market commentators that the gold price continues its bear market. Only the myth is just that: a myth denied by empirical evidence.

 
Tyler Durden's picture

Deflation Is Winning - Beware!





Deflation is back on the front burner and it's going to destroy all of the careful central planning and related market manipulation of the past 6 years. Clear signs from the periphery indicate that a destructive deflationary pulse has been unleashed. After years of suppression, the forces of reality are threatening to overwhelm our managed global ""markets"'. And it's about damn time.

 
Tyler Durden's picture

The Big, Bad Bear Case





The purpose of this article is to outline, with facts, large global structural issues that everyone, bulls and bears alike, should be fully aware of.  This article will focus on much larger structural issues that have been building for years and decades. And no this article is not so much about central banks, debt issues, Greece, China, deficits, etc. While all these are important as part of the overall picture, they are mere current symptoms of a much larger issue that is at the core of all that is already in play and will only deepen in our societies in the decades to come.

 
Tyler Durden's picture

Furious Coal CEO Lets It All Out: "Obama Is Nation's Great Destroyer"





"His legacy will be that of the nation's greatest destroyer, and he certainly is the greatest enemy that I, personally, and my family and employees, have ever had."

 
Tyler Durden's picture

The Death of Gold... Or Not!





China will be a net buyer, and a net importer of physical gold for years to come. In and of itself that won’t necessarily cause a sharp rally in gold prices anytime soon, but gold acquisition from the Chinese state and her citizens, as well as emerging market central banks the world over will continue to provide support for the physical gold market. Those that have sold gold in the past few days (and there have been plenty in the ETF and futures markets) as a result of the “disappointing” number out of China may have just caused the capitulation event that typically marks the bottom of any bear market.

 
Tyler Durden's picture

$900 Million Payday Is Billionaires' Reward For Crushing Twinkie-Maker's Labor Unions





After investing $410 million in March 2013, two billionaires are about to make a $500 million return an investment they have held just over two years, with the blessing of a whole lot of debt investors. And all they had to do was pick up the carcass of a company which did nothing more than crush its unions.

 
Tyler Durden's picture

Will The Oil Patch Bust Trigger Recession?





This seemingly inexhaustible credit line is now drying up, with severely negative consequences for oil producers with debt that's coming due. The row of dominoes swaying unsteadily in these stiff winds won't take much to topple.

 
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