Archives for November 2014

How Could It Happen?

Things That Make You Go Hmmm: How Could It Happen? By Grant Williams “How could it happen, Grandad?” The old man’s eyes misted over as he looked down at his grandson, who sat at his feet, his young eyes alive with questions as he turned the heavy gold bar over in his hands. ”I’ve told […]

3 Things Worth Thinking About

Courtesy of Lance Roberts of STA Wealth Management Data And Surveys Continue To Part Company Last Friday, I discussed the growing gap between economic reports particularly when they measure the same basic areas of the overall economy. For example, how can the Markit Manufacturing PMI Index be negative for three months while the ISM PMI has […]

Google vs. Sun vs. France: Too Big, Too Powerful, Too Free

Courtesy of Mish. I happen to like the sun. By definition, the earth would not even be a planet without the sun. No one on earth would be alive without free sunshine. I happen to like Google. I could survive without Google, but like the sun, much of what Google provides is free. Free Google […]

For The World’s Largest Rig Operator, The “Recovery” Is Now Worse Than The Post-Lehman Crash

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. The last time the world's largest oil and gas drill operator, Seadrill, halted its dividend payment was in 2009, shortly after Lehman had filed and the world was engulfed in a massive depression. Retrospectively, this made sense: the company was struggling not only with […]

Why Do So Many John Wiley Authors Want You to Trade the Markets?

Courtesy of Pam Martens. The way the 200-year old publishing house, John Wiley & Sons, is pumping out books enticing average folks to trade the markets, one might be inclined to forget that 2014 will go down in history as the year when there were more charges of rigged markets on television, in courtrooms, at […]

The REAL Looting Is Happening On Wall Street … Not In Ferguson

Courtesy of ZeroHedge. View original post here. Submitted by George Washington. Images by William Banzai … OBVIOUSLY! The looting in Ferguson, Missouri is bad.    The looters are giving the peaceful protesters against the shooting of Michael Brown a bad name, and provoking an armed (and over-militarized) response by the police. But let’s put things in […]

Merkel Will Blink First, Not Putin

Courtesy of Mish. The cold war took another twist last week when a Senior German Politician Endorsed Russian Takeover of Crimea. Former state premier Matthias Platzeck, chairman of the German-Russian Forum business lobby and erstwhile Social Democrat (SPD) chief, is the first high-ranking German to say the West should endorse the annexation as a way […]

Follow The Sand To The Real Fracking Boom

Follow The Sand To The Real Fracking Boom By James Stafford of When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom. Demand is exploding […]

Rents Heading Up? Will the CPI Follow?

Courtesy of Mish. Rents are up 6.5% in San Francisco, and 4.5% in numerous other cities. Is this a leading indicator for a stronger inflation as measured by the CPI. Please consider the Variant Perception article Higher Rents in the US are a Strong Support for CPI. Despite the subdued nature of US CPI, some […]

Jon Stewart Regrets Abusing Jim Cramer

Jon Stewart Regrets Abusing Jim Cramer Courtesy of Joshua M Brown, The Reformed Broker “You begin to believe your own responsibility to ‘get this guy’ – even though that’s complete bullshit….I think the Cramer thing was one of those that negatively impacted me like that because that came out of alchemy but it became such a […]

Outside the Box: Notes on Russia

  #459561382 / Outside the Box: Notes on Russia By John Mauldin Russia and its redoubtable president, Vladimir Putin, have been much in the news lately. The latest flurry came when Putin was taken out behind the woodshed at the G20 conference in the Philippines last weekend over his recent moves to inject more […]

Interview with James Grant

Here's an interview with Jim Grant in the Graham & Doddsville newsletter, edited by the Students of Columbia Business School. The interview begins on page 1 and then continues on page 52:  INTERVIEW WITH JAMES GRANT Excerpt: G&D: Given the current state of the economy and the low interest rate environment, it sounds like you perceive risks that others do not. What […]

Nothing Has Changed – And That’s The Problem

Nothing Has Changed–and That's the Problem Courtesy of Charles Hugh-Smith of OfTwoMinds Playing monetary games has done nothing to eliminate moral hazard. If we step back and look at the past six years since the global financial meltdown of 2008, we see that in terms of financial and political power, nothing has changed–and that's the problem. […]

For Whom The Consumer Confidence Bell Tolls

Courtesy of Lee Adler of the Wall Street Examiner The trend is your friend, but maybe not when it extends to meet a secular downtrend. That’s what the Consumer Conference Board’s ConsumerConfidence (aka the ConCon Con) Index showed today. It shocked Street conomists, whose consensus guesstimate was a reading of 96. Instead it came in at […]

Senate Report: Scale of Wall Street Holdings Are “Unprecedented in U.S. History”

Courtesy of Pam Martens. Senator Carl Levin Conducts a Hearing Into Vast Industrial Commodity Holdings by Wall Street Mega Banks Last Thursday, the U.S. Senate’s Permanent Subcommittee on Investigations, chaired by Senator Carl Levin, released an alarming 396-page report that details how Wall Street’s too-big-to-fail banks have quietly, and often stealthily through shell companies, gained […]

Zero Hedge: Ferguson In Flames…

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Protests have gone nationwide   New York Live Feed: BREAKING NEWS: PROTESTERS HAVE JUST SHUT DOWN THE BROOKLYN BRIDGE IN ADDITION TO THE MANHATTAN & TRI-BORO BRIDGES – — PzFeed Top News (@PzFeed) November 25, 2014 against historical judgement, the march attempts to […]

War on Terror: Drones Target 41 but Kill 1,147 Mostly Innocent men, Women, and Children

Courtesy of Mish. The US calls it a war on terror. In reality it's a war of terror. And for every innocent person killed, hundreds of friends and family members hold it against the US. The Guardian reports 41 Men Targeted but 1,147 People Killed in US Drone Strikes. New analysis of data conducted by […]

Global Business Confidence Collapses To Post-Lehman Lows

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. As we noted here, despite record high stock prices and talking-heads imploring investors to believe CEOs are confident, they are not (consider the clear indication of a lack of economic confidence from tumbling capex and soaring buybacks), That is further confirmed today as Markit's […]

No indictment in Ferguson case

No charges to be filed against police officer Darren Wilson for offenses ranging from involuntary manslaughter up to first degree murder (not indicted). Not surprisingly, the news sparked a night of rioting, looting and gunfire in Ferguson and protests across the nation. In Ferguson, businesses burned, 61 people were arrested, protesters threw bricks at police officers and set police cars on fire. The St. Louis […]

Fed “Mystified” Why Millennials Still Live at Home; My Answer May Surprise You (It Isn’t Jobs, Student Debt, or Housing)

Courtesy of Mish. A New York Fed research paper wonders What’s Keeping Millennials at Home? Is it Debt, Jobs, or Housing? The paper says “it’s a mystery” why the housing recovery did not have a bigger impact on millennials living at home. The research paper, written by Zachary Bleemer, Meta Brown, Donghoon Lee, and Wilbert […]

The 2014 Oil Price Crash Explained

Courtesy of The Automatic Earth NPC Capitol Refining Co. plant, Relee, Alexandria County 1925 This is an article by our good friend Euan Mearns at the University of Aberdeen. It was originally published here . In February 2009 Phil Hart published on The Oil Drum a simple supply demand model that explained then the action […]

Bitcoin Mining

Bitcoin Mining Courtesy of Global Economic Intersection By Rod Garratt and Rosa Hayes – Liberty Street Economics, Federal Reserve Bank of New York In June 2014, the mining pool Ghash.IO briefly controlled more than half of all mining power in the Bitcoin network, awakening fears that it might attempt to manipulate the blockchain, the public record […]

Juncker’s €315bn EU Slush Fund is €299bn Sleight of Hand Magic

Courtesy of Mish. Last week France asked for a "New Deal" with "Real Money" not fake EU promises. France was a bit wary (and rightly so) over sleight of hand math from Jean-Claude Juncker, the new head of the European Commission. Today we have the facts. Juncker's €315bn EU Slush Fund looks like this. 95% […]

U.S. Senate Tries Public Shaming of New York Fed President Dudley

Courtesy of Pam Martens. New York Fed President William Dudley Got a Dose of Public Shaming at the Hands of the U.S. Senate Last Week Last Friday, the Senate Subcommittee on Financial Institutions and Consumer Protection, chaired by Sherrod Brown, effectively put William Dudley, President of the Federal Reserve Bank of New York, in stocks […]