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“When you’re traveling at twice the speed of light, can you miss a stop sign?” April 1, 2015
“Market” Hits A New Low: Algos Fall For An April Fool’s Joke, Send TSLA Surging On Massive Volume April 1, 2015
In the News, 4-1-15 April 1, 2015
Driverless Car Completes California to New York Trip; [Continue Reading]

“When you’re traveling at twice the speed of light, can you miss a stop sign?”

“When you’re traveling at twice the speed of light, can you miss a stop sign?”

Courtesy of 

There were 25 [Continue Reading]

“Market” Hits A New Low: Algos Fall For An April Fool’s Joke, Send TSLA Surging On Massive Volume

Hilarious. Here's what Tesla did at the end of trading today (via Yahoo):

Does anyone know if AI is now able to distinguish between real news and jokes?  The robo-traders playing with TSLA stock clearly aren't making such high level analyses. 

April 1 (Reuters) – Shares of Tesla [Continue Reading]

In the News, 4-1-15

From Bloomberg

Bill Gross Is Betting on Leverage to Lift Returns at Janus

Bill Gross is betting on leverage to lift returns in an environment of persistently low interest rates and inflated asset prices, an approach he says he shares [Continue Reading]

Driverless Car Completes California to New York Trip; UK Rewriting Traffic Laws as Tests Begin

Courtesy of Mish.

With each passing month, driverless cars make new advances. Within five years I believe driverless vehicles of all sorts will be common, albeit perhaps not the norm.

Robotics Trends reports Driverless Car Completes Historic Cross-Country [Continue Reading]

Here Is The “Rate Hike Decision” Waterfall Analysis Goldman Gave To The Fed

Courtesy of ZeroHedge. View original post here.

The cozy "relationship" between Goldman and the Fed has been documented on these pages and elsewhere for years. From our 2010 question "[Continue Reading]

5 Truly Crazy Assertions in the Jamie Dimon Cover Story in Barron’s

Courtesy of Pam Martens.

Barron’s should have published its gushing cover story on Jamie Dimon’s stewardship of JPMorgan today – as an April Fool’s joke.

The nation’s largest bank is operating under a deferred prosecution agreement until at least next January for two [Continue Reading]

Here’s Why Investment Banks Love The ECB’s QE Program

Courtesy of Sprout Money

As we already explained in numerous columns and articles over the past few weeks and months, we had serious doubts whether or not the Quantitative Easing program whereby the European Central Bank would pump 60B EUR per month in the ‘economy’ would trickle down to [Continue Reading]

Iceland Ponders Radical Money Plan Including Elimination of Fractional Reserve Lending and Deposit Insurance

Courtesy of Mish.

I have long railed against fractional reserve lending, duration mismatches (e.g. banks issuing 2-year CDs and lending money for 15-year mortgages), bank's ability to lend money into existence, and deposit insurance. 

Fractional reserve lending allows banks to lend out a near infinite amount of credit [Continue Reading]

Iceland To Take Back The Power To Create Money

Courtesy of The Automatic Earth.


Gottscho-Schleisner Plaza buildings from Central Park, NY 1933

Who knew that the revolution would start with those radical Icelanders? It does, though. One Frosti Sigurjonsson, a lawmaker from the ruling Progress Party, [Continue Reading]

If It Ain’t Broken, Don’t Fix It: Religious Freedom Act Take II

Courtesy of Mish.

Religious Freedom Act Take II

I received a number of emails in response to Indiana Legalizes Discrimination on Grounds of "Religious Freedom".

The bill, signed by Indiana Governor Mike Pence openly encourages discrimination based [Continue Reading]

In the News, 3-31-15

From Bloomberg

Singapore Home Prices Post Longest Losing Streak Since 2004

Singapore’s home prices dropped for a sixth consecutive quarter, the longest losing streak in more than a decade, as tighter mortgage curbs cooled demand in Asia’s second-most expensive housing market.

An index [Continue Reading]

Chart o’ the Day: How Dispersion Stole the Alpha

Chart o’ the Day: How Dispersion Stole the Alpha

Courtesy of 

Why have stock-picking fund managers had it so tough over the last few years? A [Continue Reading]

Downside Data Surprises in Canada; Bad Weather Up North? How About Recession?

Courtesy of Mish.

The string of bad data reports not only applies to the US, economists up North appear to be no better at predicting the weather than US economists.

Variant Perception reports Downside Data Surprises Continue in [Continue Reading]

Apple CEO: Pro-discrimination ‘religious freedom ‘ laws are dangerous

 

View image | gettyimages.com

Apple CEO: Pro-discrimination ‘religious freedom ’ laws are dangerous 

By TIM COOK[Continue Reading]

Economists Fail to Predict Weather Once Again: Chicago PMI Disappoints

Courtesy of Mish.

Chicago PMI Disappoints

Economists expected a rebound in the Chicago PMI index this month following its collapse last month. Alas, once again the weather was much worse in Chicago than economists thought.

The Bloomberg Consensus was for a rebound [Continue Reading]

Why The Mania Is Getting Scary – Central Bankers Are Running A Doomsday Machine

Courtesy of David Stockman at Contra Corner

If you need evidence that we are in the midst of a lunatic financial mania, just consider this summary from a Marketwatch commentator as to why markets are ripping higher this morning [March 30]:

“The dovish comments from both Fed Chairwoman Janet Yellen and [Continue Reading]

Why Is the Fed’s Stanley Fischer Tilting at Windmills?

Courtesy of Pam Martens.

Stanley Fischer, Vice Chairman of the Federal Reserve

Last Friday and again yesterday, the Vice Chairman of the Federal Reserve, Stanley Fischer, delivered speeches that [Continue Reading]

How The Fed Has Failed The Nation (In One Chart)

Courtesy of Charles Hugh-Smith of OfTwoMinds

The Federal Reserve has failed not just the nation and the U.S. economy, but more importantly, the American people that it supposedly serves. It has also failed the world, by showing other central banks that they can reward private banks and top .01% [Continue Reading]

Former Fed Governor Admits Market Controlling The Fed Is A “Very Dangerous Development”

Courtesy of ZeroHedge. View original post here.

The constant changes to Fed policy targets and enslavement to the ticker must change, according to former Fed Governor Kevin Warsh. 

"The markets think they have Yellen's number," that she will never allow markets to go [Continue Reading]

Recovery, Geopolitics and Detergents

Courtesy of The Automatic Earth.


Gottscho-Schleisner Fulton Market pier, view to Manhattan over East River, NY 1934

Increasingly over the past year or so, when people ask me what I do, and that happens a lot [Continue Reading]

Historical Perspective on CPI Deflations: How Damaging are They?

Courtesy of Mish.

Yet another central bank has announced a warning about the perils of deflation. Please consider China Central Bank Calls for Vigilance on Deflation.

China's central bank governor Zhou Xiaochuan warned on Sunday that [Continue Reading]

In the News, 3-30-15

From Bloomberg:

FDA 'Taking a Very Light Touch' on Regulating the Apple Watch

With Apple Inc. and fellow Silicon Valley companies edging further into health care, the [Continue Reading]

Indiana Legalizes Discrimination on Grounds of “Religious Freedom”

Courtesy of Mish.

Can you refuse service to gays and lesbians? You can in Indiana thanks to the "Religious Freedom" Bill.

Indiana Governor Mike Pence has signed a bill that would allow businesses to refuse service to gay and lesbian patrons [Continue Reading]