The reason I don't want an Apple Watch has nothing to do with its look, functionality, price or battery life. Stated very simply: the Apple Watch, like every other enslaving you to the network device, is a productivity destroyer.
Yellen has created a narrative about the US economy, especially the (un)employment rate, and with the narrative is now firmly in place, Yellen and her stooges can claim they have no choice but to hike In short, Janet Yellen will go down into history as the person responsible for what may be the biggest economic crash ever, or at least delivering the final punch of the way into it, a crash that will make the rich banks even much richer. And there is not one iota of coincidence in there. Yellen works for those banks. The Fed only ever held investors’ hands because that worked out well for Wall Street. And now that’s over. Y’all are on the same side of the same trade, and there’s no profit for Wall Street that way.
"While equity prices look expensive relative to real economic activity, they are arguably cheap relative to bond valuations. S&P 500 earning yields are similar to BB/B bond yields, as opposed to A/BBB yields historically, indicating excessive yield-seeking behavior in the face of reduced bond market liquidity," UBS cautions.
Part I of this series provided what (for some) is a revelation: the absurd, $1 & $5 face-value on our legal tender, minted silver coins is not some totally arbitrary anomaly. Rather, it was a part of the strategy of the One Bank to pretend that its fraudulent paper currencies were not (and are not) losing value at a catastrophic rate.
As part of Obama's most reent push to change the bankruptcy law and promote legislation that facilitates the reduction or outright forgiveness of student debt, the White House provided a full state-by-state breakdown of where the 43.2 million borrowers on the hook for some $1.135 trillion in student loans. Here are the results...
"Neither Central Bankers Nor Market Participants Can Extract Any Information From Current Bond Valuations"Submitted by Tyler Durden on 03/11/2015 09:46 -0400
All is not what it seems. Markets are upside down. Some ‘risk?free’ assets can be purchased for a guaranteed loss. EU asset markets (ex?Greece) are soaring at the same time that EU disunity is rising. An interest rate hike by the Fed is likely to cause a rally in Treasury bonds and a steep correction in US equities.
Yields can always go lower… but at some point investors will have to ask, “how much am I willing to pay the Government to sit on my money? 1%? 2%? 3%?”
It appears that just as the administration is finally figuring out what HFT is, it also decided to take a look at the charts above and has made a decision: the next bailout is about to be unveiled, and it will involve a "streamlined" bankruptcy law allowing students to discharge their student debt.
First she tried to take over the credit derivatives world which she first had to create, and succeeded. Then, after Enron failed, she tried to take over the California electricity market and also failed. And all through this time she made sure the prices of the world's precious metals were right where she wanted them. Now, a year after an embarrassing attempt to become head of her former regulator ended in humiliation, she is back and has her sights set on the final financial frontier: Bitcoin.
Following a year of threats that the west would kick Russia out of SWIFT, Moscow finally took the plunge and created its own international payment system alternative. And now, seeing how easy and fast it can be done, here comes China next with its own "China International Payment System" or CIPS, as one after another major global powers wave goodbye to a dollar-based, Washington-controlled (and NSA-supervised) international funds-transfer protocol. One that no longer relies on the US Dollar.
Despite all of the talk of cutting the deficit and the like, the political class continues to throw taxpayer money around at a pace that is bankrupting the nation.
As if the stream of nonsense from European (elected and unelected) officials was not already at 11 on the Spinal Tap amplifier of insanity, French Finance Minister Sapin just uttered the following:
*FRANCE'S SAPIN SEES NO RISK OF GREEK BANKRUPTCY
The credit markets - which are once again pushing higher in yield, and wider in spread today - remain on edge, entirely disagreeing with Sapin's statement of total falsehood. It appears he has taken a page from Juncker's playbook - "when it's serious, you have to lie"
- ECB Starts Buying German, Italian Government Bonds Under QE Plan (BBG)
- Creditors Reject Greece's Reform Proposals (BBG)
- Is Apple Watch the Timex digital watch of the Internet era? (Reuters)
- Tesla shedding jobs in China as sales target missed (Reuters)
- Malaysia Airlines says expired battery on MH370 did not hinder search (Reuters)
- Gunmen kill more than 12 Islamic State militants in eastern Syria (Reuters)
- GM Plans Share Buyback, Averting Proxy Fight (WSJ)
- Wisconsin capital marked by third day of protests after police shooting (Reuters)
It was not all smiles and jokes as Mario Draghi's European QE officially launched in Europe, with Greece leaving the proverbial turd in the monetary punch bowl.
Greece "Risks Bankruptcy" As Europe Rejects Varoufakis Payment Plan; Another Referendum Fiasco EnsuesSubmitted by Tyler Durden on 03/08/2015 18:43 -0400
The longest running European "Union" soap-opera may finally be coming to its anticlimatic end.