Las Vegas

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Another Reason To Move Away From California: "Conditions Are Like A Third-World Country"





All over the southwest United States, we are seeing conditions that we have not witnessed since the days of the Dust Bowl in the 1930s. If anyone actually needed another reason to move out of the crazy state of California, now it is being reported that conditions in some areas of the state “are like a third-world countrydue to the multi-year megadrought that has hit the state. Millions of Californians have fled the state in recent years, and this water crisis could soon spark the greatest migration out of the state that we have ever seen.

 
Tyler Durden's picture

Citigroup's Gold "Expert" Demands A Cash Ban





Late last year, Grexit "expert" Willem Buiter decided that he was a greater expert on the topic of monetary metals than on geopolitics by stating that "Gold Is A 6,000 Year Old Bubble." Now, he has decided that after gold, it is best to just do away with any physical currency altogether and the time to ban cash has arrived.

 
Tyler Durden's picture

Leaking Las Vegas: Lake Mead Water Levels Continue To Crash





The last time we looked at Las Vegas water supply, the comments from professionals were "Vegas is screwed," and unless water levels in Lake Mead rise by 7%, "it's as bad as you can imagine." The bad news... Water levels in Lake Mead have never been lower for this time of year - and this is before the Summer heat seasonal plunge takes effect.

 
Tyler Durden's picture

Another Electric Car Bites The Dust: Current Chevy Volt To Go The Way Of The Aztek Due To Plunging Sales





GM is halting production of the Chevrolet Volt electric car for the summer to whittle down about seven months of unsold inventory and smooth the way for the next generation of the plug-in hybrid sedan. Production of the current model, which costs $34,000 and up before federal tax credits, will halt early next month, the Detroit auto maker has said. It will be replaced by a 2016 model with a sleeker design and up to 50 miles range on an electric charge. That second generation Volt will go into production at the end of the summer.

 
Tyler Durden's picture

Case-Shiller Index Resumes Decline Following Small Gain To End 2014





Weather-crushed January saw seasonally-adjusted Case-Shiller home prices - and as a reminder Case-Shiller expressly warns not to use seasonal data but opts for raw, unadjusted reporting - rise 0.87% MoM (better than expected), slower than the revised 0.91% gain in December. However, away from the 'make-everything-feel-better' adjustments, home prices slipped in January following December's brief interlude, leaving the index down 4 of the last 5 months. Of course, it goes witghout sayiung that weather was blamed, as they suggest, "unusually cold and wet weather may have weakened activity in some cities." What is more worrisome however, and farcical, is Case-Shiller's ominous warning against rate hikes, "home prices are rising roughly twice as fast as wages, putting pressure on potential homebuyers and heightening the risk that any uptick in interest rates could be a major setback."

 
Tyler Durden's picture

The US Housing Bubble In One Chart: Home Prices Outpace Wage Growth 13:1





If there is one chart that most clearly captures the unsustainable US home price appreciation bubble, it is the following which was released overnight from RealtyTrac: home price appreciation nationwide has outpaced wage growth by a 13:1 ratio!

 
Tyler Durden's picture

The American Dream Part 1 - America Is No Longer A Republic Or A Democracy





“Government can have no more than two legitimate purposes,” wrote the 18th-century English political philosopher William Godwin, “the suppression of injustice against individuals within the community and the common defense against external invasion.” But the US system of government – nourished by the almost unlimited credit that its money gives it – has swelled to a shape that would have been grotesque and unrecognizable to Godwin. To those who still maintain some romantic attachment to the ideals of the American Revolution, it is merely repulsive.

 
Tyler Durden's picture

Is A New Political System Emerging In This Country?





Put together our 1% elections, the privatization of our government, the de-legitimization of Congress and the presidency, as well as the empowerment of the national security state and the U.S. military, and add in the demobilization of the American public (in the name of protecting us from terrorism), and you have something like a new ballgame.

 
Sprott Money's picture

Dr. Mark Skousen: I’ve Been Fighting a Battle Against these Ideas – the ‘Paradox of Thrift’ is a Myth (Sprott`s Thoughts)





According to Austrian economists like Dr. Skousen, consumption and consumer spending are not the main drivers of economic growth. What really drives an economy are investments and innovation from businesses.

 
Tyler Durden's picture

Big Data Algos 'Are' The Singularity & They're Coming To A Stock Market Near You





There is a much larger structural risk for markets and investors than HFT and the whole Flash Boys brouhaha, it’s just totally under the radar and hasn’t surfaced yet. Investors may not know better yet, but they will soon, one way or another. Tomorrow a handful of governments will influence aggregate political behaviors by triggering small communications that Big Data tells them will be voluntarily magnified by individual citizens, snowballing into outsized, long-lasting, and untraceable “popular” actions. Tomorrow a handful of hedge funds will influence aggregate market behaviors by triggering small trades that Big Data tells them will be voluntarily magnified by individual traders, snowballing into outsized, long-lasting, and untraceable “market” actions. Tomorrow Big Data will be primarily an instrument of social control, with a powerful and ubiquitous impact on all citizens and all investors.

 
Tyler Durden's picture

What Saudi Arabia Told The Bank Of England About Why Oil Crashed And Where It Is Headed Next





"Ladies and gentlemen. A few weeks ago, in Riyadh, I was at a small, private function along with the British central bank governor, Mark Carney. Mr Carney asked me two questions. First, why did the oil price drop? And the second, where is the price heading? I will tell you today what I said to him then."

- Ibrahim Al-Muhanna, Advisor to the Minister of Petroleum and Mineral Resources for Saudi Arabia

 
Tyler Durden's picture

The Untouchables: Government Employee Can't Be Fired Despite Watching 6 Hours Of Porn A Day At Work





At the Environmental Protection Agency (EPA), red tape is preventing the removal of a top level employee accused of viewing porn two to six hours a day while at work, since 2010. Even though investigators found 7,000 pornographic files on his computer and even caught him watching porn, he remains on the payroll.

 
Tyler Durden's picture

The Water Wars Are Coming





A century of government meddling has turned the issue of water rights on its head, and further centralized control of waterways in local, state, and federal governments. Just as the residents of Los Angeles fought over water with local farmers, the residents of Las Vegas will soon find themselves fighting with surrounding states over what’s left of Lake Mead. None of the power players seem to care that the current population settlements of the southwestern United States cannot last. One day the water will run out. The sooner this reality is confronted, the better.

 
Tyler Durden's picture

Case-Shiller Says "Housing Recovery Is Faltering" Despite December Home Prices Jumping Most Since March





Home prices, according to Case-Shiller, rose 0.87% MoM in December (better than the expected 0.6% gain) for the biggest seasonally adjusted monthly gain since March, likely bringing the 'housing recovery is back on track' meme back into play (despite affordablity being a major driver of the slump in home sales). However, non-seasonally-adjusted the rise was a mere 0.1%, which nonetheless managed to snap the 3 consecutive months of sequential price declines.  And yet, despite all this, Case Shiller was anything but optimistic: “The housing recovery is faltering. While prices and sales of existing homes are close to normal, construction and new home sales remain weak. Before the current business cycle, any time housing starts were at their current level of about one million at annual rates, the economy was in a recession”

 
Tyler Durden's picture

5 Things To Ponder: Intriguing Erudition





"Conditions in the global economy are clearly abnormal. The policymaker response to those conditions is extraordinary, with minimal focus on an all-out push for higher growth. Instead, the primary focus is on boosting “inflation” with repeated doses of bondbuying, stock-buying and super-low interest rates"

"A trait you'll see among the world's best investors is the willingness -- even desire -- to talk about their mistakes. They analyze what went wrong, why they were mistaken, and how they can learn from their errors so they don't repeat them. Everyone makes mistakes, but they seem to grasp what most of us have a hard time admitting: It's your (and my) fault."

 
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