• Tim Knight from...
    09/29/2014 - 19:50
    Which brings us to Clinkle, which is a firm founded by a 22 year old with no business successes behind him (which at least Color.com's founder could claim, as he sold his firm to Apple for...

Tribune

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Babson's Warning





"[A] crash is coming, and it may be terrific... The vicious circle will get in full swing and the result will be a serious business depression. There may be a stampede for selling which will exceed anything that the Stock Exchange has ever witnessed. Wise are those investors who now get out of debt."

 
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At Least 17 Fake Cellphone Towers Capable Of Invasive Spying Have Been Discovered Across America





When Lee Goldsmith drives by one of the many fake cellphone towers being discovered throughout the U.S., his $3,500 CryptoPhone 500 will immediately display the warning message in the thumbnail image to the left. When you drive by the same fake towers, known as “interceptors,” your run of the mill iPhone or Samsung Galaxy won’t alert you to any potential security breach. And that’s exactly how those people who installed these interceptors, whoever they are, like it. What Lee Goldsmith and other users of the CryptoPhone 500 have discovered while driving across part of America will shock and disturb you.

 
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Troops Deployed In West Africa Ebola Clinics As 2 More Nigeria Cases Revealed; Saudi Blocks Travelers





Hundreds of troops are being deployed across West Africa in an effort to maintain peace and quarantine. As Liberian health officials warned, "The situation will probably get worse before it gets better." Following Monday's announcement that it will not issue pilgrimage visas to pilgrims from Sierra Leone, Guinea and Liberia due to concerns regarding the spread of the Ebola virus, Saudi Arabian officials have admitted they are testing samples from a man who had returned recently from a business trip to Sierra Leone for suspected Ebola infection. But it gets worse. As The Nigerian Tribune reports, Nigerian officials  has revealed that two people have Ebola-like symptoms after contact with the dead Liberian Ebola victim, Patrick Sawyer. The CDC Director is "deeply concerned" about spread of Ebola in Lagos (4th most populous city in the world).

 
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Frontrunning: August 4





  • New War Risk on Russia Fringes Amid Armenia-Azeri Clashes (BBG)
  • Palestinians accuse Israel of breaking seven-hour Gaza truce (Reuters)
  • Argentine Default Sours Outlook for Peso as Talks Ordered (BBG)
  • Espírito Santo Saga Entangles Swiss Company (WSJ)
  • Booming African Lion Economies Gear Up to Emulate Asians (BBG)
  • CME Profit Falls as Trading Volume Declines (WSJ)
  • Why Recalled Cars Stay on the Road (WSJ)
  • London Renters Win in Billionaire Backyard as Prices Soar (BBG)
  • Junk-Debt Liquidity Concerns Bring Sales (WSJ)
  • Rescuers race to find survivors after 400 die in China quake (AFP)
 
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These Are The 10 "Liquidity-Providing" HFT Firms The SEC Is Investigating





Despite a full court press of PR to confirm HFT firms are friends of retail investors and do no wrong; the SEC, it appears, sees it differently. While Mary White has confidently explained the market is not rigged, her agency is now actively seeking tips, complaints, or referrals that show, as The Chicago Tribune reports, evidence of abuse of order types, as well as traditional forms of abusive trading like "layering" or "spoofing" and other issues relating to high-frequency trading that might be violations of the law. Here are the 10 firms (including poster child holy-grail trader Virtu Financial) that the SEC is probing... can you spot the oddly missing one...

 
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"There Is No Honest Pricing Left" - The Epochal Error Of Modern Central Banking





"The system we have now is one in which the Fed decides, through a Politburo of planners sitting in Washington, how much liquidity is necessary, what the interest rate should be, what the unemployment rate should be, and what economic growth should be. There is no honest pricing left at all anywhere in the world because central banks everywhere manipulate and rig the price of all financial assets. We can’t even analyze the economy in the traditional sense anymore because so much of it depends not on market forces, but on the whims of people at the Fed."

 
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Guest Post: The Slow Death Of The Old Global Order





"Only through a historical perspective can we fully understand the profound developments of our time and glean, perhaps only dimly, where they are taking us. One thing is clear: they are taking us into a new era. The only question is how much disruption, chaos and bloodshed will attend the transition from the Old Order to whatever emerges to replace it."

 
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Frontrunning: April 2





  • Why did Yellen use criminals in her employment case studies? Hilsenrath explainz (Hilsenrath)
  • GM avoided defective switch redesign in 2005 to save a dollar each (Reuters)
  • Xuzhou Zhongsen Said to Avert Bond Default on Guarantor Aid  (BBG)
  • France's New Finance Minister Faces Fiscal Challenge (WSJ)
  • The magic is gone: Draghi’s Attempt to Talk Down Euro Lost on Traders (BBG)
  • Another John Kerry smashing success: U.S. Gambit on Mideast Peace Talks Falters (WSJ)
  • Combat-Ready China Military Seen as Xi’s Goal in Graft Battle (BBG)
  • Huge earthquake off Chile's north coast triggers tsunami (Reuters)
  • Pressure rises on Gross as investors pull $3.1 billion from Pimco's flagship fund (Reuters)
 
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"Nail Gun Suicide" Banker's Firm Probed Over Missing Millions





Just a few short weeks ago we reported on the unusual suicide, due to self-inflicted nail-gun wounds, of Richard Talley, CEO of Denver-based American Title Services. The death of the 57-year-old banker was accompanied by the fact that his firm was under investigation by the insurance regulators, and now, as The Denver Post reports, state prosecutors launched a criminal investigation and a grand jury over more than $2 million missing from escrow accounts. As part of that inquiry, investigators have seized about 100 boxes of documents and about 60 computers as records suggest the seemingly successful title business had serious financial problems. Talley's wife, Cheryl, who owns the other 60% of the firm has not commented.

 
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Paul "Contrafactual" Krugman: The Laureate Of Keynesian Babble





If you are not Professor Paul Krugman you probably agree that Washington has left no stone unturned on the Keynesian stimulus front since the crisis of September 2008. By the time the “taper” is over later this year (?) the Fed’s balance sheet will exceed $4.7 trillion - $4 trillion in new central bank liabilities in six years. All conjured out of thin air.  Professor Krugman proposing to “do something”... In short, Krugman wants to double-down on the lunacy we have already accomplished. Unfortunately, we are presently nigh onto “peak debt”; there is no “escape velocity” because the Fed’s credit channel is broken and done. Going forward, the American people will once again be required to live within their means, spending no more than they produce. By contrast, Professor Krugman’s destructive recipes are entirely the product of a countrafactual economic universe that does not actually exist. He wants us to borrow and print even more because our macro-economic bathtub is not yet full. And that part is true. It doesn’t even exist.

 

 
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Frontrunning: February 24





  • Ukraine Seeks $35 Billion as Yanukovych Warrant Is Issued (BBG)
  • Ukraine's fugitive president wanted for mass murder (Reuters)
  • Polar Vortex to Bring More Snow on Return to U.S. This Week (BBG)
  • China property prices continue to rise (FT)
  • Microsoft Said to Cut Windows Price 70% to Counter Rivals (BBG)
  • Pentagon to propose shrinking Army, scrapping some jets (Reuters)
  • Hedge Funds Turn Bearish on S&P 500 as VIX Advances (BBG)
  • Draghi’s Data Jigsaw Takes Shape as ECB Readies Showdown (BBG)
  • China, eyeing Japan, seeks WW2 focus for Xi during Germany visit (Reuters)
 
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Our Middleman-Skimming Economy





The ideal system for middlemen is the exact opposite of an open competitive market: low-risk fat profits flow to monopolies or cartels that obscure costs, and turn sellers and buyers into involuntary participants who have no other choice but to give money to the middlemen. The Internet is enabling sellers and buyers to bypass the predatory State and the parasitic middlemen the State enforces. Banks--no longer needed. Sickcare cartels--no longer needed. Higher education cartel--no longer needed.

 
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4th Financial Services Executive Found Dead; "From Self-Inflicted Nail-Gun Wounds"





The ugly rash of financial services executive suicides appears to have spread once again. Following the jumping deaths of 2 London bankers and a former-Fed economist in the US, The Denver Post reports Richard Talley, founder and CEO of American Title, was found dead in his home from self-inflicted wounds - from a nail-gun. Talley's company was under investigation from insurance regulators.

 
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Obamacare Strikes Again: Target Drops Part-Timers From Healthcare Plan (And Fires Others Just In Case)





Effective April 1st, Target announced to day that it would no longer offer healthcare coverage to its part-time employees. As The Hill reports, Target's HR executives 'spun' the decision as good for the employees..."by offering them insurance, we could actually disqualify many of them from being eligible for newly available subsidies that could reduce their overall health insurance expense." The company will provide a $500 cash payment to "minimize disruption," and specifically calls out Obamacare as "providing new options... that we believe our part-time members may prefer."Of course, just for good measure, Target is cutting 475 jobs and chooing not to fill a further 700 open positions - again, we presume, to minimize disruption (to their bottom line).

 
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Ship Sent To Rescue Global Warming Researchers Trapped In Antarctic, Gets Trapped In Antarctic





From ironic to ironic-er... the Chinese icebreaker ship that helped rescue the 52 Australian global warming researchers from being trapped in Antarctic ice has found itself stuck in heavy ice. As Reuters reports, The Snow Dragon had ferried the passengers from the stranded Russian ship to an Australian icebreaker late on Thursday. It now had concerns about its own ability to move through heavy ice, the Australian Maritime Safety Authority (AMSA) said.

 
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