Archives for January 2014

Lured into “The Optimistic Unknown”

Lured into “The Optimistic Unknown” Courtesy of Joshua M Brown, The Reformed Broker  What does the fixed income side of your portfolio look like these days? What kind of Frankenstein Funds, leveraged fixed income plays or “structured products” have been shoveled into it as a result of ultra-low rates and the siren song of “alternative yield”? […]

Vol Happens

Picture source here.  Vol Happens Courtesy of Joshua M Brown The market is not sticking with the 2013 playbook. We have gap-down opens and the Vix is back in the mix. Market participants are actually paying attention to overseas news – and not just the good news, the bad news too. In 2013, good news was good […]

Pending Home Sales Chart – Housing Inflation Despite Weak Sales As Inventories Stay Tight

Latest from Lee Adler of the Wall Street Examiner The National Association of Realtors (NAR) Pending Home Sales Index (PHSI) number for December fell by 8.7%, crushing clueless Wall Street economists whose consensus guess was for a decline of 0.2%. The headline number is a seasonally adjusted representation of the trend, and may or may not […]

Schiff vs. Ritholtz: Political Correctness vs. Law of Supply and Demand

Courtesy of Mish. PolicyMic says There’s a Good Reason Why Everyone’s Cricizing Peter Schiff. Jon Stewart’s Daily Show mocked Schiff in an amusing video interview Wage Against the Machine. The video allegedly explores “the devastating economic effects of raising the minimum wage to the poverty level.” Schiff’s opponent in the interview was Barry Ritholtz at […]

Nigel Farage Video: UKIP Takes Lead in British Polls; Message to Cameron

Courtesy of Mish. I am pleased to report some good news today:  UKIP takes lead in British polls ahead of EU parliamentary elections to be held in May. Nigel Farage Video Inquiring minds should watch the an interesting Video Interview of UKIP leader Nighel Farage. Here’s the opening lead “The UK Independence Party has managed […]

“Suspicious White Powder” Found At 5 Superbowl Hotels

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. While joking about potential terrorist plots is below us, the fact that New Jersey police are investigating the appearance of suspicious white powder at several hotels near the site of the Superbowl was too close to an "Onion" headline for us to ignore. As […]

South Parked

Jon Stewart: South Parked Lindsey Graham predicts the world's end, and two inches of snow brings Atlanta to a standstill.  

Theft Is Deflationary – Especially The Crony-Capitalist/State Kind

Courtesy of Charles Hugh-Smith of OfTwoMinds Monopoly power in all its forms–in our system, crony capitalism and its partner, the neofeudal state–enables theft on a systemic scale. If a monopoly forces its customers to pay more for low-quality goods and services because they have no choice, how is that not theft? If the Mafia raises the […]

Pending Home Sales Chart – Housing Inflation Despite Weak Sales As Inventories Stay Tight

Courtesy of Lee Adler of the Wall Street Examiner The National Association of Realtors (NAR) Pending Home Sales Index (PHSI) number for December fell by 8.7%, crushing clueless Wall Street economists whose consensus guess was for a decline of 0.2%. The headline number is a seasonally adjusted representation of the trend, and may or may […]

“Secret” Meetings on Greece? Say It Ain’t So; Euro Contagion Coming Up

Courtesy of Mish. How long can secret ECB meetings stay secret? Allowing time to write a story, the answer is something like 3 days, if that. The Wall Street Journal today reports on a secret meeting that took place Monday evening regarding Greece finances. Please consider Greece Creditors, France, Germany Held Secret Meeting Monday. Top […]

The Worst Unemployment Chart In The World

The Worst Unemployment Chart In The World Courtesy of JOE WEISENTHAL at Business Insider In the US and the UK, the unemployment rate is falling sharply, and it's causing growing angst about when their central banks will be forced to consider a tightening labor market, and what that means for inflation. Of course, there's some debate about […]

A Turning Point in Junior Gold Stocks?

A Turning Point in Junior Gold Stocks? By Jeff Clark at Casey Research  It's not exactly news that gold mining stocks have been in a slump for more than two years. Many investors who owned them have thrown in the towel by now, or are holding simply because a paper loss isn't a realized loss […]

Initial Unemployment Claims Chart In Danger Zone

Courtesy of Lee Adler of the Wall Street Examiner Initial unemployment claims for the week ended January 25 were worse than Wall Street economists expected based on the seasonally adjusted headline number. The actual number of initial claims, not seasonally adjusted, for this week of January was 354,604, a drop of 59,700 from the prior […]

Greece Is Back: Germany, France, Creditors Hold Secret Meeting Due To Greek Bailout “Mounting Concerns”

Courtesy of ZeroHedge. View original post here. There was a time – roughly between May 2010 and the spring fall of 2011 – when all the world had to worry about was Greece. Then the realization finally dawned that since a Grexit from the Eurozone would kill the EUR and the European integration dream with […]

Third Banker, Former Fed Member, “Found Dead” Inside A Week

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. If the stock market were already crashing then it would be simple to blame the dismally sad rash of dead bankers in the last week on that – certainly that was reflected in 1929. However, for the third time in the last week, a […]

Real Disposable Income Plummets Most In 40 Years

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. We may not know much about "Keynesian economics" (and neither does anyone else: they just plug and pray, literally), but we know one thing: when real disposable personal income drops by 0.2% from a month earlier, and plummets by 2.7% from a year ago,  […]

What the Crisis Taught Us: More Bubbles! We Need Bigger Bubbles to Combat Deflation!

Courtesy of Mish. The Monetarists are out in full force warning about pending deflation. First it was Christine Lagarde with her message about the deflation ogre (see Christine Lagarde Warns of Lord Voldemort, Hopes to Put Deflation Ogre in a Bottle). Next on the list, deflation fighter extraordinaire, Telegraph writer Ambrose Evans-Pritchard, picked up on […]

A central banker’s ‘license to lie’

A central banker’s ‘license to lie’  By Anatole Kaletsky, at Reuters Federal Reserve Chairman Ben Bernanke, who retires this week as the world’s most powerful central banker, cannot be trusted. Neither can Janet Yellen, who will succeed him this weekend at the Federal Reserve. And neither can Mark Carney, governor of the Bank of England; […]

Bill Gates Backs Renewable Battery Startup

Bill Gates Backs Renewable Battery Startup Courtesy of John Daly at Oil Price Bill Gates did not become the world’s richest man by making foolish investments. Now Gates and venture capitalist Vinod Khosla, Tao Invest, Kleiner Perkins and Foundation Capital among others, are betting that the Aquion battery, invented by Jay Whitacre of Carnegie Mellon University […]

Need Heroin? Just Head To Your Friendly Neighborhood McDonalds

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. While we are sure it is hard to make ends meet on the minimum-wage-paying positions at fast food restaurants these days; the lengths that one McDonald's employee in Pittsburgh went to subsidize her income could be a little much. As CNN reports, Shantia Dennis, […]

“Fed Has Fingers & Thumbs On The Scales Of Finance,” Grant Tells Santelli And It “Will End Badly”

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. In a mere 140 seconds, Jim Grant explains to an almost stunned into silence Rick Santelli how we all "live in a valuation hall of mirrors" as the Fed manipulates everything. Thanks to it's "fingers and thumbs on the scales of finance," Grant continues, […]

Harris v. Quinn: A Mother Petitions the Supreme Court in Fight Against Parasitic Unions

Courtesy of Mish. I have tried to steer clear of inflaming names like “parasite” when speaking about public unions. In this case, no other word comes close to describing the setup. Making Millions Off the Disabled One brave mother, Pam Harris, has resisted forced unionization of herself (as a sole home-caretaker, in her own home, […]

Janet Yellen’s Impossible Task

Courtesy of Pater Tenebrarum of Acting Man blog Plans Galore As the Bernanke era is winding down, a number of articles have appeared at Bloomberg and elsewhere in the mainstream press with authors opining on the things his successor Janet Yellen must do. That's the problem when you have a job as a central planner: everybody […]

HY bond market weathering the storm

HY bond market weathering the storm Courtesy of SoberLook.com The US corporate high yield market remains incredibly resilient in the face of increasing global volatility. Year to date the broad HY index has outperformed the S&P500 by over 4.25%.   SPY = SPDR S&P 500 ETF; JNK = SPDR Barclays High Yield Bond ETF (source: Ycharts) One reason […]