Archives for June 2015

I Fear The Greeks, Even When They Bring Gifts

Courtesy of The Automatic Earth. Harris&Ewing Red Cross Motor Corps, Washington, DC 1917 Just another normal morning at the Automatic Earth. Shaking off the local drink – when in Rome.. – and perusing a thousand views and pieces, many on the inevitable topic of ‘Da Referendum’. And I got to say, I can’t even tell […]

On Monday, It’s China Versus Greece

Courtesy of John Rubino. Fear and greed are both getting a serious workout lately, but Monday will be even more fun than usual because of two big stories that hit over the weekend. First, Greece decided to put the draconian demands of its European creditors to a popular vote, to which the creditors responded by […]

China’s $370 Billion Margin Call

Courtesy of EconMatters China’s stock markets tumbled on Friday to near bear territory further deepening the sell-off that started two weeks ago.  The Shanghai Composite, down 7.4% on the day, has fallen 19% from its June 12 high wiping out $1.25 trillion in market cap. The smaller Shenzhen and ChiNet indices also has plunged 20% from its […]


Courtesy of The Automatic Earth. Harris&Ewing Woodward & Lothrop dept. store trucks, Washington DC 1912 While many voices will be seeking to define the precise terms of the referendum announced last night by Alexis Tsipras for July 5, I think perhaps the general gist is more important. It’ll be a vote between being governed by […]

Some Jurassic Reminders

Courtesy of Joshua Brown   I took the kids to see Jurassic World last weekend and I absolutely flipped for the movie, it was so good on so many levels. I also took a few lessons / reminders away from the film about investing that I thought were interesting. I wrote it up for Fortune and it […]

Four Things the Stock Market Has Taught Me

Morgan Housel shares four important lessons that he learned from investing and which are relevant to investing plus in other areas as well. Briefly: (1) everyone has a flawed point of view; (2) we have an urge to overcomplicate things; 3) we're all contrarians, except we're not; and (4) we hear what we want to […]

Tsipras Calls July 5 Referendum on Creditors’ Demands; Merkel Says No Alternative to Creditor’s “Generous” Offer

Courtesy of Mish. In a surprise move that’s sure to deflate the nannycrat’s hope of early elections that could force prime minister Alexis Tsipras out of power, Greece’s Tsipras Calls July 5 Referendum on Creditors’ Demands. Greek Prime Minister Alexis Tsipras called a referendum on whether he should accept the latest demands of the country’s […]

5 Things To Ponder: While We Wait On Greece

Courtesy of Lance Roberts via STA Wealth Management Another week has come and gone, and there is still no resolution on Greece. Germany's Angela Merkel has firmly stated to the EU party members on Thursday that a deal on Greece must be on the table before the markets open on Monday. She also stated that "we […]

Supreme Court Legalizes Gay Marriage Nationwide In 5:4 Decision

Courtesy of ZeroHedge. View original post here. Following yesterday's historic 6:3 Supreme Court decision enshrining the tax known as Obamacare, there was little surprise moments ago when in one of its last remaining decisions in re: Obergefell v. Hodges, the most liberal Supreme Court since 1960 just declared gay marriage legal nationwide. The decision, supported by all […]

BitGold Now Available in US! Why BitGold?

Courtesy of Mish. BitGold USA Effective today, BitGold Announces Platform Launch in the United States. BitGold, a platform for savings and payments in gold, is pleased to announce the launch of the BitGold platform for residents of the US and US territories. As of today, US residents can sign up on the BitGold platform and […]

Greece Bank Deposits Drop to 11-Year Low; Creditors Offer 6 Month’s Financing; Round One of Saga Nearly Over

Courtesy of Mish. Delay Game If anyone has blinked, it now appears to be Germany and France, rather than Greece. The latest proposal does not include any new money, but it will free up enough cash until December. The game today is to continue the talks forever, or until Greece finally says OK. It is […]

The People Must Be Overthrown

Courtesy of The Automatic Earth. NPC O Street Market, Washington DC 1925 Perhaps I should apologize for writing about Greece all the time. Thing is, not only have I just arrived in Athens last night (and been duly showered in ouzo), but Greece is the proverbial early harbinger of everything that’s wrong with the world […]

Volatility Is Set To Increase

Urban made a great call on the VIX on Tuesday, June 23. Here's a screenshot of the chart from Yahoo: ….So what do you do the next time you see the VIX closing below its lower Bollinger Band? Volatility Is Set To Increase Courtesy of Urban Carmel, The Fat Pitch Summary: On Tuesday, VIX closed below its […]

How Much Is $160 Of Silver Worth To The Average American? (Hint: Less Than $10)

  Watch Mark Dice fail to practically give away a 10oz bar of silver while standing right in front of a coin shop. Passersby were either too lazy or too dismissive of the silver's worth to even get the bar appraised. As Phil writes, if you think that "hoarding physical metals (gold, silver) will keep […]

3 Things: Trend, Ceiling & Rates

Courtesy of Lance Roberts via STA Wealth Management The Long Term Trend Yesterday, I posted an article discussing the lack of ability by investors to accurately predict the future: But it is precisely this conversation that leads to a litany of articles promoting "buy and hold" investing. While "buy and hold" investing will indeed work over […]

How Companies Are Using PIP To Humiliate and Get Rid of Workers

Courtesy of EconMatters   Graphic Source: In my last two posts, I talked about why hiring now takes longer and how some companies use interview to score free consult from job applicants, today I'd like to discuss the increasing popularity of PIP.  This is not your forex trading pip, PIP in the corporate lingo means Performance Improvement Plan. What's […]

Nature Rebounds

  ‘The Legend of Giants’ by Natalia Rak | © Sergio Rdgz/Flickr (source) Outside the Box: Nature Rebounds By John Mauldin The common meme in today’s world is that we are slowly (or perhaps even rapidly in some instances) destroying our global environment. Not just by way of global warming, but pollution, over-farming, water usage, […]

What Would A Saudi-Russian Partnership Mean For World Energy?

Courtesy of ZeroHedge. View original post here. As we recently noted, Russia and Saudi Arabia appear oddly allied in recent weeks. What happens when two nations, that together account for more than fourth quarter of global oil production, begin collaborating on future energy projects?'s Gaurav Agnihotri explains… Russian President Vladimir Putin met Saudi Prince […]

Another Week, Another Chinese Gold Mine

Courtesy of John Rubino Though the true amounts are debatable, it’s generally conceded that China is importing a lot of gold. What’s not included in this calculation — but should be — are the deposits its mining companies are acquiring overseas. This gold-in-the-ground is just as much a national monetary asset as is metal accumulated […]

Treasury Now Has Color-Coded Financial Terror Alerts

Courtesy of Pam Martens. Remember when the Department of Homeland Security was issuing those color-coded terrorist alerts? Well, they don’t do that anymore.  They’re back to using plain ole black-and-white words to describe threats. Apparently, however, the U.S. Treasury’s Office of Financial Research (OFR) thought it was such a cool idea that they’ve started color-coding […]

Consumers Come to Life in May

Courtesy of Mish. Consumer Spending, Income Surge in May Consumers came to life in May, as expected by the Bloomberg Econoday Consensus Estimate. Autos, Gasoline Lead the Way Reports on personal income, consumer spending, PCE, and core PCE come out today. Economists got all of them correct, actually being a bit pessimistic on spending. Once […]

Creditors Issue “Final” Ultimatum; ECB Keeps ELA Lifeline, Bundesbank Protests

Courtesy of Mish. Air of Finality? I cannot possibly count the number of "final" offers nor count how many times the clock hit midnight only to have it move back to 11:58 PM. Today, however, there finally appears to be an air of finality. We will see soon enough. Ultimatum From Creditors The Financial Times […]

Off to Greece, and an Update on our Athens Fund

Courtesy of The Automatic Earth. NPC KKK parade on Pennsylvania Avenue, Washington DC 1925 Today I fly to Athens, and boy, does time seem to fly along with me. I’ll be arriving in Athens apparently just in time for a big demo in Syntagma square (got a mail minutes ago saying people are on their […]

Soft Tyranny in Albuquerque: The Politics Of Better Call Saul!

Courtesy of Paul A. Cantor via The Mises Institute In Breaking Bad, Vince Gilligan created one of the best shows in television history. He has followed it with a prequel, Better Call Saul!, which traces how the ethically-challenged lawyer featured in the earlier show — Saul Goodman — developed out of a perennial loser named Jimmy […]