Archives for November 2013

Black Friday: A Shameful Orgy Of Materialism

Courtesy of Michael Snyder of Economic Collapse It has been called "America's most disturbing holiday".  Black Friday is the day when millions of average Americans wait outside retail stores in the middle of the night in the freezing cold to spend more money that they do not have for more cheap Chinese-made products that they […]

Provision in Obamacare Likely to Force Up Cost of Many Family Plans

Courtesy of Mish. In an ongoing trend, unrelated to Obamacare, companies have been passing on more and more healthcare costs to employees. However, an ACA gotcha has impacted the way costs are passed on, with families taking a bigger hit than individuals at many companies. Please consider Companies Prepare to Pass More Health Costs to […]

Is Janet Yellen Smarter Than Me?

Courtesy of EconMatters Yellen`s Talking Points During Janet Yellen`s Senate Banking Committee testimony to paraphrase she said that she doesn`t see a bubble in stock prices based upon some of the metrics they utilize at the Fed, and she mentioned that the rise in the 10-year Bond Yield approaching 3% caused the Fed to delay their […]

Black Friday Roundup: Walmart has 10M Transactions in 4 Hrs; Exhausted Shoppers Head Home; Fights Break Out at Walmart; Real Fight is Online

Courtesy of Mish. In some locations, people pushed, shoved, and fought their way through the shopping aisles. In other locations, traffic was normal. All in all, I suspect people once again bought more junk they do not need and cannot afford. Here is a sampling of the news. Walmart Processes 10 Million Transactions in 4 […]

China Is On A Debt Binge And A Buying Spree Unlike Anything The World Has Ever Seen Before

China Is On A Debt Binge And A Buying Spree Unlike Anything The World Has Ever Seen Before Courtesy of Michael Snyder of Economic Collapse When it comes to reckless money creation, it turns out that China is the king.  Over the past five years, Chinese bank assets have grown from about 9 trillion dollars […]

Sorry, Folks, Rich People Actually Don’t ‘Create The Jobs’

Sorry, Folks, Rich People Actually Don't 'Create The Jobs' Courtesy of Henry Blodget of Business Insider AP As America struggles with high unemployment and record inequality, everyone is offering competing solutions to the problem. In this war of words (and classes), one thing has been repeated so often that many people now regard it as […]

France Minister of Industrial Renewal has New Target in his Sights

Courtesy of Mish. Arnaud Montebourg, Minister of Industrial Renewal of France, has a new target in his sights, the French public procurement group UGAP. Here is some background information about UGAP. Montebourg’s complaint follows. The Union of Public Purchasing Groups (UGAP), the French public procurement centre operates under the supervision of the Ministries of Economy […]

25% of Spanish Would Consider Leaving Spain for Economic Reasons; But Where Would They Go?

Courtesy of Mish. The employment and pay situation in Spain is so bad that 33% struggle to pay their bills. More importantly, 25% would consider leaving the country for better opportunities. Via translation from La Vanguardia, please consider One in three Spaniards have no money after paying their bills. One in three Spanish claims to […]

Too Much Oil: U.S. Storage Set to Pass the 400 Million Threshold

Courtesy of By EconMatters   Trend is to Store more Oil  A year ago oil in storage stood at 374.1 million barrels, and with another robust year of domestic production, and despite curtailed imports, the US Oil Inventory stands at 391.4 million barrels and climbing. We are still technically in the building season for […]

Things That Make You Go Hmmm… Like Japan’s “Economics Of The Hopeless”

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The definition of the term Hail Mary as it pertains to football, provided here by Wikipedia, does a sterling job of setting the stage for this week's topic: A Hail Mary pass or Hail Mary route is a very long forward pass in American […]

3 key facts about Japan’s deteriorating demographics

3 key facts about Japan's deteriorating demographics Courtesy of While there is a great deal of detailed discussion in the blogosphere about Japan's unsettling age demographics (see example), it's worth pointing out three key facts that add some urgency to the issue. 1. With zero immigration and falling birth rates, Japan's working-age population is declining […]

5 Things To Ponder Over Thanksgiving

Courtesy of Lance Roberts of STA Wealth Management With the "inmates in charge of the asylum" during this holiday shortened trading week, it seemed to be an apropriate opportunity to share a virtual cornucopia of topics while enjoying the delicious delicacies, and subsequent tryptophan-induced comas, of a traditional Thanksgiving. As I discussed earlier this week in "30% Up […]

Cotton Balls Go Rotten; Bale of a Tale of State Planning

Courtesy of Mish. Two years ago China amassed half the global supply of Cotton with huge price supports in an effort to encourage more cotton production. China “succeeded”. Farmers produced, and the state paid more for cotton than farmers could get elsewhere. Worldwide supplies soared, but the cotton was withheld from the market. China’s Cotton […]

Happy Thanksgiving!

Courtesy of Mish. Happy Thanksgiving to you and your loved ones! Mike “Mish” Shedlock Continue Here

China Gives Thanks For Cheap Gold

Courtesy of John Rubino. Just a quick Thanksgiving morning update on China’s gold imports, which continued at extraordinary levels in October. To put the 131 tonnes in perspective: Until recently there was an agreement in place that limited European central bank gold sales to 400 tonnes per year, because any more than that was seen […]

Happy Thanksgiving 2013 from Sense on Cents

Courtesy of Larry Doyle. With the wind whipping and temperatures dropping throughout much of the northeast, I sit here, pause, and reflect on the gifts that have been bestowed upon me and consider myself truly blessed. These gifts begin and end with the gift of faith and also include the following great good fortunes: an […]

Let Me Tell You Something About The Internet Bubble …

Let Me Tell You Something About The Internet Bubble … Courtesy of JOE WEISENTHAL at Business Insider Reuters Matt Yglesias makes an important point here: Almost everyone talking about how there's a tech bubble these days has no recollection of what the late '90s was like. It was orders of magnitude more crazy. Let me just […]

Time for Banks to Be Banks, Not Hedge Funds or Slush Funds; Free Money Math vs. 100% Gold Backed Dollar

Courtesy of Mish. In the wake of all the misguided pleas for negative interest rates in Europe (hoping to get banks to lend), comes news US banks warn Fed interest cut could force them to charge depositors.  Leading US banks have warned that they could start charging companies and consumers for deposits if the US […]

Why Is Debt The Source Of Income Inequality And Serfdom? It’s The Interest, Baby

Courtesy of Charles Hugh-Smith of Of Two Minds "Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must)." I often refer to debt serfdom, the servitude debt enforces on borrowers. The mechanism of this servitude is interest, and […]

War Between Spain and Germany Erupts Over Next Round of Watered Down Stress Tests; Germany Complains About the “Carry Trade”

Courtesy of Mish. On October 23, ECB president Mario Draghi announced new bank stress tests. At the time, I offered a “Draghize” Translation. Here is a small snip. Translating Draghize For those of you who do not speak Draghize I offer these translations. Draghize: “Banks do need to fail to prove the credibility of the […]

Monsanto, the TPP, and Global Food Dominance

Monsanto, the TPP, and Global Food Dominance Courtesy of Ellen Brown of Web of Debt “Control oil and you control nations,” said US Secretary of State Henry Kissinger in the 1970s.  ”Control food and you control the people.” Global food control has nearly been achieved, by reducing seed diversity with GMO (genetically modified) seeds that are distributed by only a few […]

Trading Floor of the Federal Reserve Bank of New York; In Photos, Over the Years

Courtesy of Pam Martens. A Trader Monitors Four Computer Screens on the Open Market Trading Desk at the Federal Reserve Bank of New York Fortunately for our readers, the rest of the Federal Reserve system is far more transparent than the Federal Reserve Bank of New York; in fact, they’re down right helpful to the […]

Reader Reflections on Socialism Theory vs. Practice

Courtesy of Mish. In response to Record Number of French Corporate Bankruptcies; Socialist Theory vs. Practice; What Went Wrong? I received a number of noteworthy comments via email and as direct comment to my blog. Reader Jay commented … The first thing all you capitalism bashers need to understand is that capitalism is not what […]

Fundamentals Rendered Irrelevant by Fed Actions: Probability Based Option Trading

Fundamentals Rendered Irrelevant by Fed Actions: Probability Based Option Trading Courtesy of J.W. JONES The fundamental backdrop behind the ramp higher in equity prices in 2013 is far from inspiring. However, fundamentals do not matter when the Federal Reserve is flooding U.S. financial markets with an ocean of freshly printed fiat dollars. As we approach the […]