Archives for September 2014

Stunning Drone Clip Reveals Massive Size Of Hong Kong Protest

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Ferguson was for amateurs. For those curious why the Hong Kong protests over the weekend have sent shivers across the world's capital markets, pushed the Hang Seng 2% lower, and impacted both European and US futures, not to mention leading to worries that China […]

Carmen Segarra: Wall Street’s Spy Vs Spy

Pam Martens writes about the Segarra Tapes released last week. These tapes show how the regulation of Wall Street is a complete failure, a farce, with only punishment waiting for those who speak out as Carmen Segarra did. William D. Cohan noted that the Segarra Tapes didn't reveal much we didn't already know. Sadly, this is […]

Elephant in the Room Minsky Moment

Courtesy of Mish. The "elephant in the room" is debt. Try as they might, central bankers have not been able to spur credit, hiring, or much business expansion because of the elephant. Things are even worse in Europe. Via email, this is a guest post from Steen Jakobsen, chief economist of Saxo bank. Debt – […]

“Do we need to fire Pimco?”

“Do we need to fire Pimco?” Courtesy of Joshua M Brown, The Reformed Broker This weekend, thousands of institutional investors, financial advisors and wealth managers are faced with one of the most uncomfortable questions imaginable: Do we need to fire Pimco?  Pimco’s flagship fund, Total Return, can be found in allocations everywhere. From pensions to endowments, from […]

Eric Cartman’s Startup: The 4 Point Plan

Eric Cartman’s Startup: The 4 Point Plan Courtesy of Joshua M Brown This week’s season premier of South Park was note perfect – weaving together a narrative involving ISIS, the Washington Redskins, Kickstarter and the excesses of a venture-backed economy where funding is the endpoint rather than the start of a business, Matt and Trey absolutely […]

Why the Fed Will Always Wimp Out on Goldman

William D. Cohan notes that the Segarra Tapes didn't reveal much we didn't already know. Sadly, this is true. Carmen Segarra provided proof to what we probably suspected anyway, but she didn't likely surprise anyone. ~ Ilene  Why the Fed Will Always Wimp Out on Goldman  By William D. Cohan, POLITICO Magazine Excerpt: The sudden appearance of […]

The US Has No Banking Regulation, And It Doesn’t Want Any

Courtesy of The Automatic Earth. Marjory Collins Traffic jam on road from the Bethlehem Fairfield shipyard to Baltimore April 1943 It is, let’s say, exceedingly peculiar to begin with that a government – in this case the American one, but that’s just one example -, in name of its people tasks a private institution with […]

Does Surging Demand For Gold & Silver Coins Signal a Bottom?

Courtesy of John Rubino. Reports of individuals snapping up near-record numbers of gold and silver coins are coming in from around the world: U.S. Mint American Eagle gold coin sales set to rise sharply in Sept (Reuters) – The U.S. Mint has sold nearly 50,000 ounces of American Eagle gold coins so far in September, […]

Ebola vs. Us

Ebola vs. Us By Ilene Ebola is spreading too quickly for Ebola-vaccine makers to conduct typical studies of safety and efficacy on experimental vaccines. Instead, vaccines will be tested for basic safety, but then deployed with protocols devised now in order to test for efficacy essentially on the field. Testing has to be expedited because the […]

Reflections on Catalonia, Crimea, Iraq, California, Nation Building

Courtesy of Mish. Catalonia Independence Vote to Proceed on Schedule  Arthur Mas, president of Catalonia declared today that the vote for independence of that region will go as scheduled on November 9. Spain contends the vote is illegal and vows to stop it. El Economista reports Arthur Mas Calls for Vote on Independence of Catalonia. […]

The Plunge Protection Team is Opening an HFT-Focused Chicago Office

Zero Hedge's take on the Fed's search for new employees in Chicago. The cool thing about this is that if the market plunges, the Fed employees will be right there in Chicago to try to counteract the selling. Yea! ~ Ilene The Plunge Protection Team is Opening an HFT-Focused Chicago Office Courtesy of ZeroHedge For […]

Sick Man of Europe is Europe; Blame the Socialists, Progressives, Greens, and the Euro Itself

Courtesy of Mish. Joel Kotkin writing for New Geography hits the nail smack on the head with his assessment Sick Man of Europe is Europe. Throughout the continent, public support for a united Europe fell sharply last year. Opposition to greater integration has emerged, with anti-EU parties gaining support in countries as diverse as the […]

Michael Lewis Still Says It Better Than Anyone

Michael Lewis Still Says It Better Than Anyone By The Banker  When Bankers Anonymous hands out its annual awards for the best “recovering banker” essays of the year, the black tie crowd typically goes on chattering amongst themselves, unheeding the speaker at the stage holding the golden microphone trophies. Why? Becuase they know that Michael Lewis […]

Wasted Money: Delegation of Governors Make Surprise Trip to Afghanistan

Courtesy of Mish. Ways to waste money in Afghanistan are endless. Here’s another case in point: Cuomo Makes Surprise Trip to Afghanistan. Gov. Andrew M. Cuomo of New York arrived in Afghanistan on Saturday as part of a delegation of governors and Defense Department officials to visit troops and receive briefings on counterterrorism and security […]

Russia Discovers Massive Arctic Oil Field Which May Be Larger Than Gulf Of Mexico

Russia Discovers Massive Arctic Oil Field Which May Be Larger Than Gulf Of Mexico Courtesy of ZeroHedge In a dramatic stroke of luck for the Kremlin, this morning there is hardly a person in the world who is happier than Russian president Vladimir Putin because overnight state-run run OAO Rosneft announced it has discovered what […]

Peak Debt – Why the Keynesian Money Printers are Done

Courtesy of David Stockman via Contra Corner blog, Bloomberg has a story today on the faltering of Draghi’s latest scheme to levitate Europe’s somnolent socialist economies by means of a new round of monetary juice called TLTRO – $1.3 trillion in essentially zero cost four-year funding to European banks on the condition that they expand their business […]

Debt Rattle Sep 26 2014: Can Money Save The Climate?

Courtesy of The Automatic Earth. Harris & Ewing Staircase in the Capitol, Albany, New York 1905 So PIMCO was going to fire Bill Gross over the weekend, and he chose to leave on his own accord and work for Janus. So what? Gross is 70 years old and still joins another firm geared towards making […]

Argentina running out of options

Argentina running out of options Courtesy of With Argentina's private sector in disarray, Cristina Fernandez de Kirchner's government has been forced to increasingly bail out failing businesses, particularly importers that are critical to Argentina's stability. The nation's fiscal problems are escalating rapidly as it undertakes what amounts to a form of nationalization. Source: Goldman Sachs   A great […]

Taliban Storm Afghanistan, Beheadings Galore

Courtesy of Mish. Having spent well over $3 trillion dollars in Iraq and Afghanistan what do we have to show for it? Shias aligned with Iran rule Baghdad ISIS took over parts of over Iraq ISIS threatens to take over Syria The average Pakistani hates the US for drone policy Taliban threatens to take over […]

Are Cars About to Crash?

Courtesy of John Rubino. New car sales have been one of the bright spots of the US recovery. And they’re still at it: September U.S. auto sales to rise 10 percent: JD Power, LMC (Reuters) – Strong demand drove U.S. new car and truck sales 10 percent higher in September, adding momentum to the industry’s […]

Gross To Janus – Wait, What?!?!

Gross To Janus – Wait, What?!?! Courtesy of Michael Taylor of Bankers Anonymous This makes zero sense. PIMCO founder Bill Gross will join Janus Funds?  If you founded and built the largest bond fund company in the world, If your name is synonymous with that company, If you are the rockstariest rockstar of bond managers (if […]

PIMCO About to Fire Gross for “Erratic Behavior”; Janus Picks up Gross, Shares Jump 40%

Courtesy of Mish. Global macro news this is not, but here's an interesting story. Bond Guru and PIMCO co-founder Bill Gross Was Going to Be Fired for ‘Erratic Behavior,’ Says CNBC. Barron's reports Gross Leaves Pimco for Janus; Knew He Was Being Shown the Door. CNBC’s Andrew Ross Sorkin said on air ago the fund […]

3 Things Worth Thinking About

Courtesy of Lance Roberts of STA Wealth Management No Bubble Here Yesterday, I reviewed some the longer term macro trends of the markets noting some deterioration that should give rise to some concern. However, the bullish trends currently remain intact which suggests that portfolios remain more heavily tilted towards equity exposure for the time being. Shortly […]

How Goldman Controls The New York Fed: 47.5 Hours Of “The Secret Goldman Sachs Tapes” Explain

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. When nearly a year ago we reported about the case of "Goldman whistleblower" at the NY Fed, Carmen Segarra, who alleged she was wrongfully terminated after she flagged "numerous conflicts of interest and breaches of client ethics [involving Goldman] that she believed warranted a […]