Archives for October 2015

Austria Announces Fence With Slovenia; Irony of German Whine; Cascading Fences; Mish Proposed Strategy

Courtesy of Mish. Two months ago, Austria’s chancellor Werner Faymann criticized Hungary for building a fence along its border. Faymann proclaimed “To think that you can solve something with a fence, I believe this is wrong.” Today, Austria Announces Fence on Slovenia Border to Slow Refugee Flows. Europe’s migration crisis escalated on Wednesday after Austria […]

Goodbye Middle Class: 51 Percent Of All American Workers Make Less Than 30,000 Dollars A Year

Courtesy of Michael Snyder at End of the American Dream We just got more evidence that the middle class in America is dying.  According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year.  Let that number […]

Inside the Secretive World of Tax-Avoidance Experts

Here's an enlightening look into the world of wealth managers aka tax avoidance experts.  Inside the Secretive World of Tax-Avoidance Experts A sociologist realized that if she were ever going to understand global inequality she would have to become one of the people who helps create it. So she trained to become a wealth manager […]

The Federal Reserve: Illusion Of Understanding, Illusion Of Control

Courtesy of Charles Hugh-Smith of OfTwoMinds We live in an era of illusion: the illusion of understanding, and the illusion of control. Few institutions reflect these illusions better than the Federal Reserve, though the Pentagon, Congress, the Imperial Presidency, the sick-care cartel and the higher education cartel are certainly giving it a run for its money. […]

Charts Run Counter to Fed Talk of Rate Hike

Courtesy of Pam Martens. GDPNow From Atlanta Fed as of October 27, 2015 The Federal Open Market Committee (FOMC) of the Federal Reserve will release its statement today at 2 p.m. (ET). It is widely expected that the Fed will be holding rates steady. The Fed has been signaling for more than a year that […]

Slovenia Calls on Army, Private Security Forces, Ponders Article 222 for EU Military Aid to Halt Flow of Migrants

Courtesy of Mish. Slovenia has a population of 2 million people. But in the last 10 days alone, 84,000 migrants have flooded the country. In response, Slovenia has called out the Army and private security forces to help maintain order. That did not stem the tide, so Slovenia Considers Calling for EU Military Aid. Slovenia, […]

The Pawn Isolated: Valeant, Philidor and the Annals of Fraud

  The Pawn Isolated: Valeant, Philidor and the Annals of Fraud Courtesy of Roddy Boyd, originally published at SIRF on Oct. 25. The Southern Investigative Reporting Foundation's (SIRF) story looking at Valeant Pharmaceuticals' well-concealed relationship with Philidor Rx Services, struck a nerve. Briefly, the story explored the ways in which Philidor, a specialty pharmacy whose sole customer is Valeant, […]

Why Are Half Of All 25-Year-Olds Living With Their Parents? The Federal Reserve Answers

  Why Are Half Of All 25-Year-Olds Living With Their Parents? The Federal Reserve Answers Courtesy of ZeroHedge. View original post here. Back in 1999, a quarter of all 25-year-olds lived with their parents. By 2013 this number has doubled, and currently half of young adults live in their parents' home. While the troubling implications […]

The Beginning Of The End For Theranos?

Courtesy of ZeroHedge. View original post here. It started off as a bad enough day for embattled, recently notorious, biotech startup Theranos which, after a series of reports by the WSJ, has found itself, and its $9 billion valuation, reeling. First, citing New Yorker, WaPo, Economist and Fortune, the Verge reported that according to Theranos, it "earns a […]

EU Rules Bitcoin is a Currency, US Says Bitcoin is a Commodity; Which Side is Correct? What About Gold and BitGold?

Courtesy of Mish. European Court of Justice Rules Bitcoin is a Currency Last week, the European Court of Justice ruled Bitcoin is a Currency and Exchanges are VAT-exempt. The European Court of Justice (ECJ) has ruled that bitcoin exchange transactions should be exempt from VAT. The ECJ ruling stated that bitcoin transactions "are exempt from […]

Free Trade Vs. American Jobs

With half of all 25-year-olds living with their parents as Zero Hedge reports, it is the perfect time to enact a mystery trade agreement that increases unemployment and puts pressure on already stagnant wages.  Free Trade Vs. American Jobs Courtesy of Dr. Paul Price at Market Shadows Thursday’s Wall Street Journal included a feature article on the Trans-Pacific Partnership, commonly […]

Is The Small-Cap Under-Performance A Big Deal?

Courtesy of Dana Lyons After the initial pop off the September low, small-cap stocks have significantly under-performed their larger peers – is that trend as troublesome as some are claiming? If you are closely involved with markets, you know that there are always items of concern among participants. One such concern presently is the recent under-performance […]

Regional Fed Reports Five for Five in Contraction; Texas Region Worsening, Richmond Negative Again

Courtesy of Mish. Dallas Regional Activity Dives Deeper Into Contraction Yesterday the Dallas Fed general activity index slipped further into contraction to -12.7, well below the Bloomberg Consensus Estimate of -6.0, and also lower than the lowest guess of -7.0. Look no farther than to the Dallas Fed manufacturing survey for evidence on how severely […]

Cracks in the Economy Widen as Durable Goods Orders Sink

Courtesy of Mish. The word of the day is "awful." That's the best description of today's durable goods report. Durable goods orders came in at -1.2% lower than the Bloomberg Consensus Estimate of 1.0%. And last month's numbers were revised lower across the board. There is no way put lipstick on that pig. Durable Goods Lowlights […]

Stock Trading System from Hell on Live Feed Today at SEC

Courtesy of Pam Martens. CREDO Action Billboard Truck Urges Dumping    Mary Jo White at SEC The Securities and Exchange Commission will be holding a public meeting today on the structure of today’s opaque and deeply fragmented stock markets (without conceding that they are also rigged, as many informed voices contend). The meeting will begin […]

Don’t Think The Status Quo Will Save You

Charles Hugh-Smith, Of Two Minds, argues that the Status Quo will not save you. Okay. But I'm not sure what the Status Quo is. Is it the Federal goverment? Is it the ultra-wealthy who control our politicians? Adding a third mind to Charles's two minds, I think the subject of this article, "Status Quo," needs to be thoroughly defined. […]

Europe’s On A Road To A Very Bleak Nowhere

Courtesy of The Automatic Earth. LIFE How to kiss 1942 On the day after a bunch of European countries headed into yet another -emergency- meeting, and as the refugee situation in Greece and the Balkans was more out of hand than ever before, not in the least because the numbers of refugees arriving from […]

Keen vs. Keen: Will the Real Steve Keen Please Stand Up?

Courtesy of Mish. Economists Prove That Capitalism Is Unnecessary Several readers sent me a link to Economists Prove That Capitalism Is Unnecessary. The title was hardly surprising, given that is what many economic illiterates think. However, I was startled to find out it was written by Steve Keen, one of my favorite economists. Did Steve […]

Simple proof that Philidor has shipped drugs where it is not licensed

  Simple proof that Philidor has shipped drugs where it is not licensed Courtesy of John Hempton, Bronte Captial The Wall Street Journal has a fabulous article about Valeant's ties to Philidor – its captive specialty pharmacy. In it they suggest that Valeant staff double under fake names as Philidor staff. The use of alternative names by workers […]

News You Can Use From Phil’s Stock World

  Financial Markets and Economy The $67 Billion Prize On Offer as Japan Shakes Up Power Market (Bloomberg) Spend a few minutes to fill in a single-page form from a government website. Mail it in. Thats all you need to register as a power producer in Japan as the countryopens its $67 billion retail electricity market. The future […]

Winter Scramble; Refugees Will Freeze to Death Warns Juncker; Tony Blair Apologizes for Creation of ISIS

Courtesy of Mish. Scramble is On November is less than a week away and nighttime temperatures are dropping rapidly. What is Europe supposed to do with hundreds of thousands of migrants in need of shelter? This is one of those things German chancellor Angela Merkel, Swedish prime minister Stefan Löfven, and EU head Jean-Claude Juncker […]

Sales, Earning Estimates Contract First Time Since 2009; US Back in Recession?

Courtesy of Mish. US Back in Recession? Large US corporations posted their first decline in both earnings and sales since the great recession. Are we back in recession? That depends on who you ask. Let's kick of the debate with the Wall Street Journal article U.S. Companies Warn of Slowing Economy. Quarterly profits and revenue […]

Precious Metals Starting To Produce Some Winners

Courtesy of John Rubino. Everybody who’s owned gold and silver mining shares through a couple of cycles has their favorite story of the stock that took off and ran away. There was Glamis Gold, which rose from $1 to $40 in the space of a few years before selling out to Goldcorp. And Silver Wheaton, […]

On Leaders and Demagogues

  On Leaders and Demagogues Courtesy of Robert Reich Among the current crop of candidates for president of the United States, who exhibits leadership and who doesn’t? Leadership isn’t just the ability to attract followers. Otherwise some of the worst tyrants in history would be considered great leaders. They weren’t leaders; they were demagogues. There’s a […]