Davos
A Good Way To Think About It
Submitted by Tim Knight from Slope of Hope on 01/20/2015 13:31 -0500A mere 70 million people will have more wealth than 6.93 billion. Thanks, banksters!
Frontrunning: January 20
Submitted by Tyler Durden on 01/20/2015 07:40 -0500- Australia
- B+
- Barclays
- Bond
- China
- Citigroup
- Davos
- default
- Deutsche Bank
- European Central Bank
- European Union
- Evercore
- Federal Reserve
- Fisher
- Ford
- goldman sachs
- Goldman Sachs
- GOOG
- Housing Market
- Insider Trading
- Institutional Investors
- Iraq
- Merrill
- Morgan Stanley
- NAHB
- Newspaper
- Raymond James
- Real estate
- Regions Financial
- Reuters
- Serious Fraud Office
- Swiss Franc
- Switzerland
- Time Warner
- Viacom
- Washington D.C.
- Wells Fargo
- Obama to focus on middle class in State of Union address (Reuters) - all 4 of them?
- European Stocks Buoyed by ECB Hopes (WSJ)
- China's 2014 economic growth misses target, hits 24-year low (Reuters)
- Federer on Swiss Franc Shock: "Does It Mean I've Got to Win Now?" (BBG)
- First-time buyers help Christie’s reach record sales (FT)
- So it was the NSA? U.S. Spies Tapped North Korean Computers Prior to Sony Hack (BBG)
- Why Chinese Developer Kaisa's Default Risk Has Money Managers Spooked (BBG)
- Morgan Stanley Misses Estimates on Drop in Bond-Trading Revenue (BBG)
Market Wrap: Global Markets Rebound On ECB QE Hopes After IMF Cuts Global Growth Forecast Again
Submitted by Tyler Durden on 01/20/2015 06:53 -0500Hours after the IMF cut its global economic growth forecast yet again (which for the permabullish IMF is now a quarterly tradition as we will shortly show), now expecting 3.5% and 3.7% growth in 2015 and 2016, both 0.3% lower than the previous estimate (but... but... low oil is unambiguously good for the economy) and both of which will be revised lower in coming quarters, and hours after China announced that its entirely made up 2014 GDP number (which was available not 3 weeks after the end of the quarter and year) dropped below the mandatory target of 7.5% to the lowest in 24 years, it only makes sense that stock markets around the globe are solidly green if not on expectations of another year of slowing global economies, which stopped mattering some time in 2009, but on ever rising expectations that the ECB's QE will be the one that will save everyone. Well, maybe not everyone: really only the 1% which as we reported yesterday will soon own more wealth than everyone else combined and who are about to get even richer than to Draghi.
Spot The Trend: The Richest 1% Are About To Own Over Half Of Global Wealth
Submitted by Tyler Durden on 01/19/2015 21:45 -0500Below is a chronological progression of the famous Credit Suisse global wealth pyramid showing a dusturbing trend. Try to spot it.
Treacherous Investment Climate: What to Watch
Submitted by Marc To Market on 01/18/2015 11:22 -0500- Bank of Japan
- BOE
- Bond
- Brazil
- Canadian Dollar
- Central Banks
- China
- Copper
- CPI
- Davos
- EuroDollar
- Eurozone
- Federal Reserve
- Global Economy
- Greece
- Housing Starts
- Japan
- Michigan
- Monetary Policy
- President Obama
- Sovereign Debt
- Swiss Franc
- Switzerland
- Unemployment
- University Of Michigan
- World Bank
- World Economic Outlook
Top ten things that investors will likely be watching in the week ahead.
Ukraine President Poroshenko Met With George Soros
Submitted by Tyler Durden on 01/13/2015 22:40 -0500President of Ukraine Petro Poroshenko has held a meeting with founder of the Open Society Foundations, international philanthropist George Soros. President Poroshenko has expressed gratitude to George Soros for his support of Ukraine, particularly for urging the international society to increase the level of support to Ukraine...
The Zombie System: How Capitalism Has Gone Off The Rails
Submitted by Tyler Durden on 11/02/2014 22:00 -0500- Alan Greenspan
- Asset-Backed Securities
- Bill Gates
- Bond
- Capital Markets
- CDO
- CDS
- Central Banks
- Citigroup
- Corruption
- Credit Suisse
- Crude
- Crude Oil
- dark pools
- Dark Pools
- Davos
- European Central Bank
- Fail
- Flash Trading
- Florida
- France
- George Soros
- Germany
- Global Economy
- Greece
- Insurance Companies
- International Monetary Fund
- Japan
- Larry Summers
- Lehman
- Lehman Brothers
- Merrill
- Merrill Lynch
- Monetary Policy
- Money Supply
- Newspaper
- Nomination
- Private Equity
- Prudential
- Real estate
- Reality
- Recession
- recovery
- Robert Rubin
- Rolex
- Salient
- Switzerland
- Timothy Geithner
- Too Big To Fail
- Transaction Tax
- White House
"Solutions to the world's problems are not produced in a meeting between Bill Gates and George Soros... Renewal has to come from below... Limiting the influence [of the richest] is of the utmost importance... so that today's upper-class, high-finance capitalism can once again revert to being a capitalism of the real economy and the societal center."
How China & Gold Will Shape The Future
Submitted by Tyler Durden on 10/26/2014 20:48 -0500Willem Middlekoop, author of The Big Reset – The War On Gold And The Financial Endgame, believes the current international monetary system has entered its last term and is up for a reset. Having predicted the collapse of the real estate market in 2006, (while Ben Bernanke didn't), Middlekoop asks (rhetorically) - can the global credit expansion 'experiment' from 2002 – 2008, which Bernanke completely underestimated, be compared to the global QE 'experiment' from 2008 – present? - the answer is worrisome. In the following presentation he shares his thoughts on the future of the global monetary system; and how gold, the US and China are paramount for its outcome.
Frontrunning: September 10
Submitted by Tyler Durden on 09/10/2014 06:44 -0500- Apple
- B+
- BAC
- Bank of England
- Barclays
- BOE
- Bond
- China
- Citigroup
- Comcast
- Commodity Futures Trading Commission
- Credit Suisse
- Davos
- Detroit
- Deutsche Bank
- Dollar General
- Ferrari
- Ford
- France
- Hong Kong
- Housing Market
- Iraq
- LBO
- Merrill
- Mexico
- Morgan Stanley
- Nationalism
- Newspaper
- Pershing Square
- Raymond James
- Real estate
- Reuters
- Risk Management
- Securities and Exchange Commission
- Sirius XM
- Starwood
- Tender Offer
- Time Warner
- University of California
- Univision
- Yuan
- British PM begs Scots: Don't rip apart our UK 'family of nations' (Reuters)
- Obama has become Bush: Obama’s Task: Rally U.S. Public, Allies in Terror Fight (BBG)
- Alibaba's record IPO covered after first few roadshow meetings (Reuters)
- Ferrari chairman Luca Di Montezemolo to quit after 23 years (BBC)
- Combat Reversals Pressure Assad (WSJ)
- Top LBO Fund Investors Pile on Leverage to Boost Returns (BBG)
- BOJ's Iwata upbeat on economy, unfazed by post-tax hike slump (Reuters)
- Carney Can’t Escape Housing as Debt Colors BOE Policy (BBG)
- Detroit Clears Crucial Hurdle on Bankruptcy (NYT)
Top Financial Experts Say World War 3 Is Coming … Unless We Stop It
Submitted by George Washington on 07/31/2014 23:33 -0500- Afghanistan
- Alan Greenspan
- Black Swan
- Brazil
- Charles Nenner
- China
- Davos
- Federal Reserve
- Global Economy
- goldman sachs
- Goldman Sachs
- India
- Iran
- Iraq
- Japan
- Jim Rickards
- Jim Rogers
- Joseph Stiglitz
- Kuwait
- Kyle Bass
- Kyle Bass
- Marc Faber
- Martin Armstrong
- Middle East
- Netherlands
- Nouriel
- Nouriel Roubini
- Purchasing Power
- Trade Wars
- Tyler Durden
- Ukraine
- Wall Street Journal
- Yuan
Nouriel Roubini, Kyle Bass, Hugo Salinas Price, Charles Nenner, James Dines, Jim Rogers, David Stockman, Marc Faber, Jim Rickards, Paul Craig Roberts, Martin Armstrong, Larry Edelson, Gerald Celente and Others Warn of Wider War
West Desperate To Break Russia-China Axis, But "Money Talks" Straight To Putin
Submitted by Tyler Durden on 03/28/2014 20:30 -0500
Among other things, there is one major obstacle to the West's "costs" imposition on Vladimir Putin and his Russian economy - China. So far, a Xi Jinping has described, China has been a "sleeping lion" but today "the lion is awake" and with the Chinese President's first trip to Europe, as WSJ reports, western leaders are hoping to enlist his support over the crisis in Ukraine. However, privately, European diplomats concede that China's relationship with Russia remains solid and that was evidenced by their most recent investment in Russia's $10bn state-backed Direct Investment Fund (which just happens to be run by a former Goldman Sachs banker. It seems "money talks" once again and China will likely continue to play the middle ground.
Jabba The Hutt, Jerome Kerviel, Davos And Market Reflexivity: Tying It All Together
Submitted by Tyler Durden on 02/21/2014 15:23 -0500
"When the market is in the depressive phase of what President Lockhart referred to as a bipolar disorder, crafting policy to satisfy it is like feeding Jabba the Hutt—doing so is fruitless, if not dangerous, because it simply will insist upon more." - Fed's Dick Fisher
Are Animal Spirits Deflating?
Submitted by Tyler Durden on 02/11/2014 19:43 -0500
Unfortunately many investors, with central banks having slashed deposit rates to de minimis levels, have gone ‘all-in’ with regard to risk assets in the desperate pursuit of yield. Be careful what you wish for. It is quite clear that central banks will do literally anything within their power to attempt to avert deflation – to ensure that “it cannot happen here”. That does not mean they will succeed – but they may end up destroying fiat currencies in the process (one of the reasons we have consistently held gold). It is “quite obvious” what the Fed will ultimately do... Six years into this crisis, and in the words of Lily Tomlin, things are going to get a lot worse before they get worse.
Key Events And Issues In The Coming Week
Submitted by Tyler Durden on 02/10/2014 08:03 -0500- Bank of England
- BOE
- China
- Consumer Confidence
- Consumer Sentiment
- CPI
- Czech
- Davos
- Federal Reserve
- France
- Germany
- Housing Market
- Housing Starts
- India
- Initial Jobless Claims
- Israel
- Japan
- Mervyn King
- Mexico
- Michigan
- Monetary Policy
- Poland
- recovery
- Romania
- SocGen
- Switzerland
- Testimony
- Trade Balance
- Turkey
- Unemployment
The most notable event in this traditionally quiet post-payrolls week is Janet Yellen's Humphrey Hawkins testimony before Congress set for mid-week. In terms of economic data releases, the US retail sales (Exp. 0.05%) is on Thursday and consumer sentiment survey is on Friday (consensus 80.5). We also have IP numbers from Euro Area countries and the US. Most recent external account statistics are released from Japan, China, India and Turkey. It is also interesting to track CPI data in Germany, Spain and India, given the ECB and RBI currently face diverging inflation challenges and may be forced into further action. Finally, we have Q4 GDP data from the Euro Area economies (Friday).
Post-Payrolls Euphoria Shifts To Modest Hangover
Submitted by Tyler Durden on 02/10/2014 07:09 -0500- Asset-Backed Securities
- Bank of England
- Barclays
- BLS
- BOE
- Bond
- Borrowing Costs
- Carry Trade
- Central Banks
- China
- Consumer Sentiment
- Copper
- Crude
- Davos
- Equity Markets
- ETC
- Eurozone
- Fail
- Fed Fund Futures
- fixed
- Foreclosures
- France
- Germany
- Gilts
- goldman sachs
- Goldman Sachs
- Greece
- headlines
- House Financial Services Committee
- India
- Initial Jobless Claims
- Iran
- Iraq
- Italy
- Janet Yellen
- Japan
- Jim Reid
- Monetary Policy
- Nikkei
- Open Market Operations
- Output Gap
- POMO
- POMO
- Portugal
- President Obama
- RANSquawk
- Reality
- Testimony
- Trade Deficit
- Unemployment
- Volatility
After Friday's surge fest on weaker than expected news - perhaps expecting a tapering of the taper despite everyone screaming from the rooftops the Fed will never adjust monetary policy based on snowfall levels - overnight the carry trade drifted lower and pulled the correlated US equity markets down with it. Why? Who knows - after Friday's choreographed performance it is once again clear there is no connection between newsflow, fundamentals and what various algos decide to do. So (lack of) reasons aside, following a mainly positive close in Asia which was simply catching up to the US exuberance from Friday, European equities have followed suit and traded higher from the get-go with the consumer goods sector leading the way after being boosted by Nestle and L'Oreal shares who were seen higher after reports that Nestle is looking at ways to reduce its USD 30bln stake in L'Oreal. The tech sector is also seeing outperformance following reports that Nokia and HTC have signed a patent and technology pact; all patent litigation between companies is dismissed. Elsewhere, the utilities sector is being put under pressure after reports that UK Energy Secretary Ed Davey urged industry watchdog Ofgem to examine the profits being made by the big six energy companies through supplying gas, saying that Centrica's British Gas arm is too profitable.





