• 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...
  • Phoenix Capital...
    02/06/2016 - 10:15
    2008 was caused by derivatives based on consumer-focused assets (houses). The next crisis will be driven by derivatives on government-focused assets (bonds).

Detroit

Tyler Durden's picture

Flint Officials Could Have Prevented Lead Crisis for $80 A Day, Broke Federal Law Instead





"It’s outrageous that this sort of government-made catastrophe would happen anywhere in the United States..."

 
Tyler Durden's picture

The Islamization Of America In 2015, Part 2





More than half (51%) of Muslims in America believe they should "have the choice of being governed according to Sharia." Only 39% of those polled said that Muslims in the U.S. should be subject to American courts. Nearly a quarter believed that, "It is legitimate to use violence to punish those who give offense to Islam by, for example, portraying the prophet Mohammed."

 
Tyler Durden's picture

6 Cities In Michigan Have Even Higher Levels Of Lead Than Flint





The problem is... we’re still using kids as lead detectors.”

 
Capitalist Exploits's picture

Risk Management Lessons From A Drunk Welshman





How many years ago a drunk Welshman at a local pub taught me some invaluable risk management lessons

 
Tyler Durden's picture

Governor Knew About Flint Water Poisoning for Nearly A Year, Tried To Shift Blame





“Somebody needs to go to jail for this, man.” Redacted emails released Wednesday by Michigan Gov. Rick Snyder show that his administration was informed of problems with Flint’s water almost a year ago, many months before the embattled governor or his staff begrudgingly admitted to bearing any responsibility for poisoning a city - or for fixing the problem. “They’re poisoning an entire community. A generation of kids will never recover from this. And it’s all just to save a few dollars. They played a game of chess with our lives and we lost.

 
Tyler Durden's picture

Borderland Homicides Show Mexico's Gun Control Has Failed





While it refuses to admit the abject failure of its gun control program, the Mexican state instead attempts to shift the blame to Americans and has attempted to impose international gun control measures on the US. For Mexican politicians, it's easier to shift the blame than to recognize the fact that neighboring Americans right across the border enjoy far lower homicide rates along side relatively easy access to firearms. (Even California looks like a gun-owner's paradise compared to Mexico.) The Mexican state (and many Mexicans) are unfortunately impervious to these facts, and, many Mexicans still believe that Mexicans will be safer if the Mexican regime tightens its grip even more on firearms, in spite of the spectacular failure of gun control in that country.

 
Tyler Durden's picture

Frontrunning: January 11





  • David Bowie, musical legend behind Ziggy Stardust, dies at 69 from cancer (Reuters)
  • With No Powerball Winners, Jackpot Grows to Estimated $1.3 Billion (ABC)
  • Stock Gains Short-Lived as Chinese Volatility Hurts Oil, Metals (BBG)
  • China's yuan spikes higher, but stocks tumble (Reuters)
  • Arch Coal Files for Bankruptcy (WSJ)
  • Yuan Loan Rates Soar in Hong Kong as PBOC Halts Currency's Slide (BBG)
  • China stocks close down at lowest level since September (Reuters)
  • Fed Eyes Margin Rules to Bolster Oversight (WSJ)
 
Tyler Durden's picture

ISIS – The Case For Non-Intervention





We don’t have a dog in this fight.  San Bernardino doesn’t change the calculation.  ISIS will eventually collapse under its own homicidal and parasitical weight, probably with the help of one or more of its neighbors, whose inactivity and divisiveness we currently underwrite. Then ISIS will be replaced by something better... or worse... it is impossible to know in this region.  In the interim, we and our European friends should focus our efforts on isolating ourselves from the madness.  And we certainly should not go out of our way to draw further fire.

 
Tyler Durden's picture

Pretend To The Bitter End





There’s really one supreme element of this story that you must keep in view at all times: a society (i.e. an economy + a polity = a political economy) based on debt that will never be paid back is certain to crack up. Its institutions will stop functioning. Its business activities will seize up. Its leaders will be demoralized. Its denizens will act up and act out. Its wealth will evaporate. Given where we are in human history - the moment of techno-industrial over-reach - this crackup will not be easy to recover from. Things have gone too far in too many ways. The coming crackup will re-set the terms of civilized life to levels largely pre-techno-industrial. How far backward remains to be seen.

 
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“We Don’t Remember How To Raise Interest Rates. None Of Us Worked Here The Last Time We Did It”





... I found myself seeking refuge in the tiramisu staring back at me, a bit uncomfortable that I was only hearing the wah wahs of Charlie Brown’s adult voices. Until this, during the back and forth of Q&A: (Laughter around the room…) “We don’t remember how to raise interest rates. None of us worked here the last time we did it.

 
Tyler Durden's picture

State Of Emergency Declared In Michigan City After Lead Found In Children's Blood





"The City of Flint has experienced a Manmade disaster," said the city’s mayor Monday evening, as she declared a state of emergency over evidently staggering levels of lead in the city’s tap water. Mayor Karen M. Weaver has requested federal assistance to deal with the fallout from over a year’s worth of tainted water delivered to Flint residents and, allegedly, falsely declared safe by government officials.

 
Tyler Durden's picture

The Eerie Echo Of 2007: It Really Is Bear Stearns, All Over Again





In a supreme twist of irony, Bear Stearns is back - maybe not the firm itself - but the people who were in charge of its distressed and junk bond trading group, and just like the summer of 2007, it is an ex "Bear"-run hedge fund that was the first to gate, just as the credit cycle is turning and the default cycle has begun, as we explained last week, just one day before everyone's attention finally focused on junk debt.

 
George Washington's picture

Why Liberals Oppose a Gun Ban for People On Terror Watchlist





Everyone Agrees that We Need to Stop Mass Shootings ... But This ISN'T the Way to Do It

 
Tyler Durden's picture

It's D-Day For Puerto Rico As $354 Million Payment Comes Due, Padilla Heads To Capitol Hill For Help





Puerto Rico faces its moment of truth on Tuesday as the commonwealth must decide whether to default on GO debt and risk triggering a cascade of litigation. Meanwhile, Governor Alejandro Garcia Padilla is on Capitol Hill hoping to drum up support for a plan that would allow for some of the island's agencies to file for bankruptcy.

 
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