Updating Market Shadows

We’d appreciate feedback regarding the future direction of this blog. Given that Paul has decided to quit updating the portfolios, please let me know what you would be interested in seeing. Would you like the portfolios to be continued? Are you reading the news and commentary from other authors that contribute to this site? Are you [Continue Reading]

Cisco Sums It Up: Terminates 8% Of Workforce While Buying Back $1.5 Billion In Stock

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Moments ago Cisco reported a whole lot of numbers as part of its Q4 earnings release. For the most part these were largely irrelevant, but for the pedants out there here is what Wall Street is focusing on: revenue and EPS beats [Continue Reading]

Capital Flight From China, One Person at a Time, Via ATM and Bitcoin

Courtesy of Mish.

In response to New Yuan Loans and Shadow Banking Collapse in China; Record Bank Deposit Slump reader “CF” from Hong Kong who works in China explains how he is pulling every cent he can out of renminbi (yuan) , converting instead to Hong Kong dollars.

From “CF” regarding his [Continue Reading]

Multi-Pronged Attack on Donetsk Rebels Likely Within Days

Courtesy of Mish.

Donetsk is surrounded and rebels expect a major coordinated attack within days.

Here is a map of major military operations by both sides from August 1 to August 10.

click on map for sharper image


Blue jets inside red circles are locations where Ukrainian [Continue Reading]

Helen Davis Chaitman Reviews In Bed with Wall Street.

Helen Davis Chaitman is a well-known attorney with extensive experience in the areas of lender liability, bankruptcy, bank fraud, RICO, professional malpractice, trusts and estates, and white collar defense. The National Law Journal named her as one of the nation’s top ten litigators in 1995. Ms. Chaitman is also the author of The Law of Lender [Continue Reading]

How High Up Did the Madoff Fraud Go at JPMorgan?

Courtesy of Pam Martens.

Helen Davis Chaitman is a nationally recognized litigator and author of The Law of Lender Liability. And she is two other things as well – a Bernie Madoff victim who lost a large part of her life savings to his Ponzi scheme and the tenacious lawyer who represented other victims [Continue Reading]

Inspectors’ General ‘Limitations on Access to Records’

Courtesy of Larry Doyle.

Information is everything.

Access to information on a timely basis is critical to an agency, an organization, an administration, and a government at large being well run. The sharing of information is often sporadic if the interests of those involved are not properly aligned.

Regrettably for the American public, our interests are [Continue Reading]

New Yuan Loans and Shadow Banking Collapse in China; Record Bank Deposit Slump

Courtesy of Mish.

A major alarm bell just rang in China with the release of July credit figures according Macro Business Australia. Chinese Credit Just Collapsed and shadow banking with it.

Here are a couple of charts.

Yuan Loans

New yuan loans were 385.2 bn versus [Continue Reading]

Japan GDP Plunges 6.8%, Consumption Down 19.2%, Private Investment Down 9.7%

Courtesy of Mish.

In the wake of an inane sales tax hike Japan’s GDP Shrinks 6.8%, Most Since 2011
Gross domestic product shrank an annualized 6.8 percent in the three months through June, the Cabinet Office said. That was less than the median estimate of 37 economists surveyed by Bloomberg News [Continue Reading]

Deflation Hits Oldest Profession In The World: Hookers By The Numbers

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As The Economist finds, the internet is making the buying and selling of sex easier and safer (from what we have been told). But it's not all Pretty Woman… not only is the oldest profession in the world seeing prices going [Continue Reading]

First-Time Home Buyer Dilemma: Overpay or Be Shut Out; Home “Ownership” Slavery

Courtesy of Mish.

Supply of homes at the bottom-third of the market is down 17 percent from a year ago.

Meanwhile the top-third home supply is up 15 percent while the middle is up a modest 3 percent according to Redfin.

The bottom third is anything priced below $198,000.

But $150,000 or $200,000 does [Continue Reading]

Not As Much Labor Force Slack as Yellen Believes

Courtesy of EconMatters

Fed Moving Targets

The Fed keeps moving their targets when they originally thought it was a good idea to provide forward guidance for markets, then when that guidance was met, they started moving the targets in order to justify pumpingmore liquidity and stimulus into the financial system for the benefit of the Big Banks. [Continue Reading]

Here Is The Average Cost To Rent A 2-Bedroom Apartment In Your City

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

We have been pounding the table since 2009 that without a sustainable increase in average disposable income, the US housing market – that core driver for "wealth effect" and net worth for the "rest of us", i.e., those non-1%ers whose net worth [Continue Reading]

ISIS And The Coming Escalation In Iraq

Courtesy of Pater Tenebrarum of Acting-Man

Kurdistan Has a New Neighbor – The Islamic State

A mere two and a half weeks ago, Falah Mustafa Bakir, the head of foreign relations for the KRG (Kurdish Regional Government), gave an interview to Vice News that contained several quite stunning statements (see below for details). At the [Continue Reading]

Debt Rattle Aug 12 2014: The Lost Art of Empire

Courtesy of The Automatic Earth.

NPC Penn Oil Co., Massachusetts Avenue and North Capitol, Washington DC 1920

I can’t seem to get away from Ukraine and Iraq lately. Don’t know if I should apologize for that, but I certainly never had any intention of writing about politics. [Continue Reading]

JPMadoff: New Site Hits JPMorgan Hard in re: Madoff

Courtesy of Larry Doyle.

In early January of this year, JP Morgan was hit with a $2 billion fine and a deferred prosecution agreement for its failures to properly manage and monitor its 20-plus year relationship with the Sultan of Swindle Bernie Madoff.

In my opinion, that settlement had little meaningful correlation with what most [Continue Reading]

Meet the Tax Lawyer Whistleblower Who’s Taking a Wrecking Ball to John Bogle’s Legendary Career at Vanguard

Courtesy of Pam Martens.

John Bogle, Founder of the Vanguard Group

Tax lawyers do not typically blow the whistle on their corporate employers because that law degree cost them (or their parents) a serious amount of money; the degree will result in outsized lifetime earnings; and, most importantly, because it is career suicide. [Continue Reading]

China Begins Direct Sales Of Fruit & Vegetables To Russia

Courtesy of ZeroHedge. View original post here.

Despite the ongoing mainstream media meme that Russia is becoming 'isolated' from the rest of the world thanks to Western sanctions, it appears they have found a few new 'old' friends to become un-isolated with. On the heels of Russia's food-import-ban sanctions last week, Russian [Continue Reading]

800 Finnish Dairy Workers Furloughed Due to Russia Sanctions, Others Fired; Brussels to Buy Fruit with Public Money

Courtesy of Mish.

It’s a “small price to pay” for 800 Finnish Dairy Workers Furloughed Due to Russia Sanctions.
“Valio, the largest Finish producer of dairy products, will involuntarily furlough part of its workforce from its factories that produce exports to Russia.  This was stated in a company press release.

The restructuring [Continue Reading]

Alarming Failure of French Economy; Expect Serious Tremors in September

Courtesy of Mish.

Les Echo discusses the Alarming Failure of French Economy.
GDP for the second quarter will be released Thursday, and it does not look good. Industrial production declined in the second quarter, foreshadowing very low GDP growth. It’s a moment of truth for the government. It will need to [Continue Reading]

Debt Rattle Aug 11 2014: Oil, Chaos, Power and Arrogance

Courtesy of The Automatic Earth.

John Vachon General store and post office in Little Creek, Delaware Jul 1938

Boy, what a day so far; hard to keep up. tell me, is it just me, or has the US really started another round of regime change in Iraq? [Continue Reading]