Archives for July 2014

Debt Rattle Jul 29 2014: There’s A War Going On Already In Europe

Courtesy of The Automatic Earth. Arthur Rothstein Elm Street, Theater Row, Dallas Jan 1942 I don’t think it’s ever a good sign, no matter how funny it may look, when the US state Department makes one think of Monty Python. But it does. With a Silly Claims instead of Silly Walks department. Would these people […]

Wall Street Journal Reporter: “The Entire United States Market Has Become One Vast Dark Pool”

Courtesy of Pam Martens. Citigroup, the Bank the U.S. Taxpayer Saved From Insolvency in 2008, Is Operating a Dizzying Array of Dark Trading Pools Today In 2012, Wall Street Journal reporter, Scott Patterson, released his 354-page prescient overview of U.S. market structure titled, Dark Pools: High Speed Traders, A.I. Bandits, and the Threat to the […]

Alan “Ace” Greenberg, Rest In Peace

Courtesy of Larry Doyle. In early 1990 after 7 fabulous years learning the ins and outs of Wall Street while working at The First Boston Corporation, I departed that venerable firm for the rough around the edges ways of Wall Street that defined Bear Stearns. I had been cautioned by some not to make that […]

Ukrainians Ordered to War, Women Burn the Military Writs

Courtesy of Mish. The war in Ukraine is going so well that soldiers are unpaid and men are ordered to serve whether they want to or not. Hats off to a group of women who confront a Ukrainian soldier and burn military writs right in front of the soldier’s face. Writ Burning Video Video link: […]

Excuse Me For Living

Excuse Me For Living Courtesy of James H. Kunstler Israel has all the proof it needs that world opinion will never consider its right to exist important. The Obama White House, and a lot of the US News Media, portray the Hamas-Israel conflict as something like an amateur soccer match, with the uneven score (40-odd […]

On Washington’s Ukrainian Fiasco: “Who Is The Real Problem Here?”

Courtesy of David Stockman via Contra Corner blog In just 800 words Pat Buchanan exposes the sheer juvenile delinquency embodied in Washington’s current Ukrainian fiasco. He accomplishes this by reminding us of the sober restraint that governed the actions of American Presidents from FDR to Eisenhower, Reagan and Bush I with respect to Eastern Europe during far more perilous times. In a word, as […]

Calling All Munitions and Fighter Plane Experts: Is German Pilot Claim “Air-to-Air Attack” Brought Down MH17 Credible?

Courtesy of Mish. Peter Haisenko, a German aviation expert made a claim yesterday that air-to-air fire brought down MH17. The above link is to a translated page. As a lay person, it’s easy to be persuaded by such arguments. Moreover, even if Haisenko is an aviation expert, one has to wonder about his munitions expertise. […]

Most Transparent Insider Trading Congress Ever Tells SEC To Shove it

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. "Do as we say, not as we do," appears the modus operandi of the current administration's increasingly totalitarian regime. Today's edition of 'wait, what?' comes from The WSJ who report that The U.S. House of Representatives told a federal court Friday it should dismiss […]

Marc Chandler: FX and Energy on CNBC Squawk Box

Courtesy of Marc Chandler Cool Video: FX and Energy on CNBC Squawk Box This Cool Video is a clip from my appearance on CNBC's Squawk Box this morning. I offered a nuanced view, suggesting that while the dollar appears to be at a turning point, unless US yields find better traction, it is difficult to be too bullish […]

IMF Warns Pound Overvalued; What About Other Currencies?

Courtesy of Mish. Is the British pound overvalued? What about the Euro? The US Dollar? The Yen? Curiously, economists make that case for all of those currencies. And today, the IMF is pounding the drums with this proclamation “Overvalued” Pound Prevents Rebalancing. The International Monetary Fund warned on Monday that the pound was “overvalued” and […]

Debt Rattle Jul 28 2014: Washington Thinks Americans Are Fools

Courtesy of The Automatic Earth. Arthur Rothstein Cow at Wabash Farms cooperative, Indiana May 1938 At this point, you may want to consider making it personal. Your government, wherever you are in the west, but especially in the US, takes you for a bunch of fools they can feed anything at all and fully expect […]

And That’s a GOOD Thing??

Courtesy of John Rubino. The past year has seen a long list of “XYZ is at its highest level since XXX” announcements. Some notable examples: NASDAQ tech stocks are back to 1999 levels The number of initial public offereings, including companies with no earnings, is back to 1999 levels Junk bond yields are even lower […]

Time to Put a New Economic Tool in the Box

Thoughts from the Frontline: Time to Put a New Economic Tool in the Box By John Mauldin [E]conomists are at this moment called upon to say how to extricate the free world from the serious threat of accelerating inflation which, it must be admitted, has been brought about by policies which the majority of economists […]

The Case For A Bull Or Bear Market In Two Charts

Courtesy of Charles Hugh-Smith of OfTwoMinds blog, Which appears more likely–a straight-line extension of the past two years' rise in stocks, or another "impossible" decline to complete the megaphone pattern? There are dozens of charts and data points supporting the case for a continuation of the Bull market in stocks or a reversal into a Bear […]

Wall Street’s Regulators Sell Out on Illegal Wash Sales

Pam Martens writes about the illegal practice of wash sales, which is essentially one entity being on both sides of a trade and manipulating (e.g., pumping up) prices with trades to itself.  This practice allows entities, such as Citigroup, to artificially inflate stock prices (or prices of derivatives or other trading vehicles) by creating fake demand […]

Libya Warns Oil-Fire Is “Out Of Control” – What 1.5 Million Gallons Of Burning Gasoline Looks Like

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. UPDATE: Caught on tape… A second fuel tank in the Libyan capital Tripoli has caught fire, which Libya's National Oil Company has described as "out of control".   A dark cloud hangs over Tripoli today… but this time it's physical not metaphorical. As NBC […]

No BBC Video Removal Scandal After All; Evidence of Military Planes Shadowing MH17 Mounts

Courtesy of Mish. On July 23 the BBC deleted a video report from correspondent Olga Ivishina regarding the crash of MH17. This has caused quite a stir in the blogosphere because the deleted video contained eyewitness reports of military aircraft flying on the same day, shadowing Mh17. Here is the deleted video from cache: (go […]

3 reasons Yellen’s FOMC remains dovish

3 reasons Yellen's FOMC remains dovish Courtesy of Sober Look What makes Janet Yellen and a number of other FOMC members so dovish with respect to monetary policy and in particular the trajectory of rate normalization? A Credit Suisse report sites 3 key factors, which Yellen calls  “unusual  headwinds": 1. Tighter fiscal policy. The combination […]

Ukraine’s Army Advances; Unguided Rockets Kill Civilians; Demise of Rebels?

Courtesy of Mish. There are lots of conflicting, even contradictory news reports regarding Ukraine in the past couple of days. Let's take a look at a few of them starting with the Bloomberg report Ukraine Army Advances as EU Plans Tougher Putin Sanctions. Ukraine’s army advanced on a last main separatist stronghold as the U.S. […]

The US Phillips Curve

The US Phillips Curve Courtesy of Sober Look   We've received some questions about the so-called Phillips curve – the relationship between inflation and unemployment. While there are a number of ways to look at the Phillips curve, the services inflation measures are more suitable than the broader price indices in order to assess the […]

“Place to Avoid” – French Blogger Fined $2,000 for Writing Bad Restaurant Review

Courtesy of Mish. Want to review a French restaurant? Only good reviews are allowed in France. Caroline Doudet a blogger who runs the site “Cultur’elle,” found that out when she wrote a restaurant review that the French court said “ranked too high a in Google search” (as if any writer can know in advance how […]

Coffee, Tea Or P53

Patrick Cox calls coffee a "health food," and the single most important food item available at the grocery store. Throw in a steak (protein) and who needs anything else? Okay, fiber. We need that. Coffee, steak, vegetable… maybe a beer.  Coffee, Tea Or P53  Courtesy of Patrick Cox of Transformational Technology Alert Serious historians have proposed […]

You Can’t Taper a Ponzi Scheme: Time to Reboot

You Can’t Taper a Ponzi Scheme: Time to Reboot Courtesy of Ellen Brown at Web of Debt One thing to be said for the women now heading the Federal Reserve and the IMF: compared to some of their predecessors, they are refreshingly honest. The Wall Street Journal reported on July 2nd: Two of the world’s most powerful women […]

Market Shadows Update (9-26-14)

We updated the Virtual Value Portfolio spreadsheet here and the Virtual Put-Selling Portfolio spreadsheet here.  NOTE: The Virtual Put Selling Portfolio will be closed. We will either allow puts to expire or buy them back. Stock World Weekly is a weekly newsletter from Phil’s Stock World. Free Trial here. The newsletter reviews last week’s market moves and next week’s events. Read the latest issue: 9-21-2014 SWW […]