Shale Shock: Another Leg Lower In Oil Coming After Many Producers Found To Have Far Lower Breakevens

According to a report by the Bloomberg Intelligence analysts William Foiles and Andrew Cosgrove, Saudi Arabia may have its work cut out for it as it will be far harder to kill many U.S. E&Ps than analysts originally thought. The reason: a break-even model for the Permian Basin and Eagle Ford shows that oil production across five plays in Texas and New Mexico may remain profitable even when WTI prices fall below $30 a barrel, according to a 55-variable Bloomberg Intelligence model for horizontal oil wells.

  • Feb 3, 2016 8:32 PM

How Corruption Cripples America's Military

Amongst all corrupt aristocracies (and that’s every aristocracy), America’s takes the cake. The International Criminal Court will begin to have credibility if and when it starts to prosecute American leaders such as George W. Bush and Barack Obama, but not a minute before that time. Western gangsters lead the world right now, and Western political leaders are their agents — merely fixers, for those elite gangsters.

  • Feb 3, 2016 8:30 PM

Meet The World Leader Who Stole His Citizens' Gold

Financially insolvent governments of major superpowers do not simply go gentle into that good night. They don’t suddenly turn over a new leaf and start embracing economic freedom. Instead, they get worse. More desperate. More destructive. Should we honestly believe that they can continue racking up more debt than has ever existed in the history of the world without any consequences? This is madness. As Mark Twain used to say, history may not repeat, but it certainly rhymes.

  • Feb 3, 2016 8:30 PM

PBOC Strengthens Yuan By Most In 2 Months As Golden Week Looms

With just one more day of trading before China's lunar new year and Sping Festival Golden Week holiday, it appears The PBOC wants to flex its intervention muscles. By strengthening the Yuan fix by 0.16% (the most in 2 months) to 1-month highs, it seems China is trying to send a message before it practically closes for a week...

  • Feb 3, 2016 8:27 PM

The Continuing Demonization Of Cash

Centuries-old legal protections have been turned on their head in the war on cash. The insidious nature of the war on cash derives not just from the hurdles governments place in the way of those who use cash, but also from the aura of suspicion that has begun to pervade private cash transactions. The assumption on the part of government today is that possession of large amounts of cash is indicative of involvement in illegal activity.

  • Feb 3, 2016 7:35 PM

This Is What Central Bankers Think Of Retail Investors

A report on China's stock market crash authored last year by former senior officials, including former central bank vice governor Wu Xiaoling, said Chinese retail investors are short-sighted, have a weak investment philosophy and a herd mentality.

  • Feb 3, 2016 6:42 PM

Vancouver Real Estate Goes Full-Retard; Average Home Price Now $1.8 Million

Residential property sales in Greater Vancouver rose 31.7% in January. That’s 46% above the 10-year sales average for the first month of the year and the second highest January ever, the Greater Vancouver Real Estate Board reports. The benchmark price for a detached home in Vancouver: $1,293,700. The "benchmark" price represents what the Real Estate Board says a "typical" home would go for on the market. If we simply take the arithmetic mean (i.e. the average), the numbers are even more astounding.

  • Feb 3, 2016 6:00 PM

Pitchfork Time? "Elites Have Lost Their Healthy Fear Of The Masses"

"Today’s elites have lost the sense of fear that inspired a healthy respect for the masses among their predecessors. Now they can despise them as losers, as the aristocracy of ancien régime France despised the peasants who would soon be burning their châteaux. Surely today’s elites are going to learn how to fear before we see any reversal of the recent concentration of wealth and power."

  • Feb 3, 2016 4:58 PM

Gold - It's Time To Pay Attention

The psychology dominating the minds of most institutional investors over the past few years has been that things were slowly getting back to normal. This has weighed on institutional demand for gold in a big way, and been a meaningful factor in the bear market (manipulation aside). The problem now is that this assumption is quickly being called into question, and if this psychological shift gathers pace, the shift back into gold could be very meaningful.

  • Feb 3, 2016 4:36 PM

Goldman Capitulates: Revises Fed Call, No Longer Expects A March Rate Hike

Another day, another Goldman prediction fiasco, and no, we are not talking about the stop out of the firm's Top Trade for 2016, namely the long USDJPY, short EURUSD (although that should happen any minute) - we are talking about that perpetual permabull, Jan Hatzius, just admitting the economy is in far worse shape than expected (if only by him), and as a result he just "revised" his Fed rate hike call, no longer expecting a March hike, instead now forecasting that the first rate hike will be in June and "and see a total of three rate increases this year."

  • Feb 3, 2016 4:34 PM

All Roads Lead To Treasuries

Because a currency represents a relative relationship, Fed hikes could have helped pull other central banks away from the dangers and consequences of negative rates, while still helping their hidden desire for a weakened currency. Opposing central bank policy actions would cause too powerful of an impact on exchange rates. Unfortunately, it appears the path into negative territory is winning the directional battle. A classic prisoner’s dilemma has arisen for the Fed.

  • Feb 3, 2016 3:40 PM

"We're Nearing The End" David Stockman Warns, Retail Investors Are "Heading For The Slaughter"

The retail investor waded in again. The sheep lined up and, unfortunately, are heading for the slaughter one more time. I think it is very hard to see how this Baby Boom generation, with 10,000 of them retiring a day, can afford one more devastating crash in their stock holdings. That is, unfortunately, what we are heading for. That’s why I say it’s dangerous. When the bubble breaks, it will spill and flow throughout the Main Street economy.

  • Feb 3, 2016 3:26 PM

Martin Shkreli's Freedom In Jeopardy After E*Trade Account Takes $40 Million Hit

Early last month, we asked a simple question: "Will Martin Shkreli, like the E*Trade-ing Joe Campbell whose short position in KBIO blew up when Shkreli acquired more than half of the float back in November, start a GoFundMe page in the event his collapsing holdings leave him a few million short on the bail bond?” We may soon know the answer.

  • Feb 3, 2016 3:07 PM

Dow Soars 400 Points Off Dudley Lows

It's a miracle - Dudely speaks, CHNJPY mysteriously spikes higher, , Crude oil soars 8%, and The Dow soars 400 points off its lows. The question is - what now - as Dow runs stops to Monday's cash open...

  • Feb 3, 2016 2:51 PM