Mario Draghi Press Conference - Live Webcast
The earlier ECB rate announcement came and went just as expected, and without granularity. Much more interesting will be the latest press conference. And if the last one was any indication, sparks will...
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Initial Jobless Claims Soar, Biggest Miss Since November
And the economic (downside) hits keep on coming: PMI, ISM, Non-Mfg ISM, ADP and now Initial claims - five out of five misses as the US economy slowly but surely joins the rest of the world in resuming...
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EUR Plunges On Draghi's "Downside Risks" Jawbone
After leaving rates unchanged and following Kuroda's efforts overnight, it appears Draghi had to do something in his press conference. Despite Barroso's assurances that the worst of the crisis is over,...
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97% Of Spanish Social Security Pension Fund In Domestic Bonds
In January, we discussed the stunning fact that Spain's social security pension fund was 90% allocated to Spanish sovereign debt. The latest data shows that this farcical epic reach-around has become...
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Caveat Depositor
Eric Sprott & Shree Kargutkar“If there is a risk in a bank, our first question should be: ‘Ok, what are you the bank going to do about that? What can you do to recapitalise yourself?’ If the bank...
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Mario Draghi Responds To Zero Hedge: "There Is No Plan B"
This happened earlier today, at the ECB press conference:Scott Solano, DPA:Mr Draghi, I've got a couple of question from the viewers at Zero Hedge, and one of them goes like this: say the situation in...
View ArticleGuest Post: The Proper Use Of Credit
Submitted by Charles Hugh-Smith of OfTwoMinds blog,Great fortunes are built on the proper use of credit. Improper use of credit leads to mal-investment and wealth destruction. We cannot understand our...
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Market Responds To NFP - Great Rotation To Safety
The kneejerk response to this morning's dismal NFP print was significant disappointment. 10Y yields plunged to a 1.68% handle - its lowest in almost 5 months (and largest 3-day drop in yields in 10...
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People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force...
Things just keep getting worse for the American worker, and by implication US economy, where as we have shown many times before, it pays just as well to sit back and collect disability and various...
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Real March Unemployment Rate: 11.6%
Today, we got the laughable news that the unemployment rate declined even as those not in the labor force grew by over 660,000, while the total civilian non-institutional population grew by just...
View ArticleRunning Out Of Champagne
Submitted by Mark J Grant, author of Out of the Box,The Whole Duck"Meanwhile, in the broad and lofty chamber set apart for occasions of import, the Abbot himself was pacing impatiently backwards and...
View ArticleGeorge Soros Warns "Central Banks Are Creating Financial Instability"
While the crisis in Europe is first in Goerge Soros' mind because it is the "hottest" risk flare currently, his biggest concern in what he calls the "disarray in global cooperation," or what we would...
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Global Deposit Confiscation Called For By Influential CEO Of Italy's Largest...
Gold is higher in most currencies today except the Japanese yen. Gold surged over 3% to 0.149 million yen per ounce yesterday as markets shuddered due to the scale of currency debasement soon to be...
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Young Vs Old: A Tale Of Two US Job Markets
Because we have discussed the issue of the age-bifurcated US jobs market extensively before, we are delighted to not have to say much if anything this time around, as absolutely everything is still the...
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Guest Post: "The Carrot's In Reach:" The Myth Of A Self-Sustaining Recovery
Submitted by Charles Hugh-Smith of OfTwoMinds blog,The carrot of self-sustaining recovery will remain out of reach, for the policies presented as the path to recovery preclude the "virtuous cycle"...
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Oh No! Is It Possible? A 3rd Irish Bank With Hidden Charges Not Revealed In...
On March 31st, I illustrated how the concealment of excessive encumbered items probably contributed greatly to the premise of Anglo Irish bank, not to mention the demise of practically all of that...
View ArticleInvestigators Hit Brick Wall; Bank Of Cyprus CEO Hard Drives Wiped
As the investigation into unusual loan write-downs and the 'premature' movement of capital away from Cyprus by the elites of that nation progresses, Cyprus Mail reports that the investigators - Alvarez...
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Unemployment Report Shocks Markets
The big driver of market declines Friday was led by the Non-Farm Payrolls report. The jobs data was a dreadful miss (88K vs 198K & prior 236K) and the unemployment rate declining from 7.6% from...
View ArticleThe Clear Signs of a Global Inflationary Tsunami Are Already Visible Around...
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed...
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