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BitCrash Continues: Down 40% And Dumping
Time to rename it BitCrash... or will it stage an amazing recovery? Alas, for this particular bubble, there are no NYSE circuit breakers nor is there a Federal Reserve-mandated "plunge protection...
View ArticleEurope Extends Confiscatory Non-Template 'Template' To Interbank Deposits
While every European leader, banker, street-sweeper has made a point to use the phrase "Cyprus was not a template" in the last few weeks since D-Boom dropped his tape-bomb, it appears that in reality...
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Housing 'Recovery' Shifts To Contraction
Despite the market knowing better, the so-called housing recovery has hit a speed-bump (or brick-wall). Goldman's housing swirlogram shows that the revisions from an exuberant few months into January...
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BiT BuBBLe MaDNeSS...
In the beginning... and then... “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” - Charles MacKay,...
View ArticleWill We Never Learn?
Submitted by Michael Krieger of Liberty Blitzkrieg blog,Just Keep Dancing: Introducing The 97-Month Auto LoanWhile many of us have been shouting about this from the rooftops for years now, with each...
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S&P All-Time Highs But VIX And Credit Unamused; BitCoin Crashes
Treasury yields finally got back up to pre-Payrolls levels today but there was no stopping stocks as the S&P 500 finally broke its all-time highs (and yay verily there was much rejoicing).USDJPY...
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Fed Releases Names Of Early FOMC Minutes Recipients: Include Employees Of...
We will release the full list of named recipients once we get it, but here is what we now for now, via BBG and CNN:EMPLOYEES AT GOLDMAN SACHS, BARCLAYS, JP MORGAN, CITI, NOMURA, UBS, HSBC RECEIVED FED...
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YUM Plunges After-Hours On 'Shocking' China KFC Miss
Just as we warned, the avian flu in China has had a very significant impact on its KFC chain*YUM BRANDS MARCH COMP SALES DOWN 13% FOR CHINA UNIT :YUM US*YUM BRANDS: MARCH SAME-STORE SALES DOWN 16%...
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The True Chinese Credit Bubble: 240% Of GDP And Soaring
Several months ago we pointed out something not fully grasped by the broader public: the Chinese corporate debt bubble is the largest of any developed and developing country, and at 151% of GDP (and...
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Stocks Up, VIX Up, Bonds Up, Bitcoin Down (& Out?)
For the second day in a row, VIX has gone nowhere as stocks pushed on to new highs. PC-related names were hammered on the dismal shipments data and Transports also suffered once again. The S&P made...
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Still Think The Housing Recovery Is Sustainable?
While hope springs eternal that the US housing sector 'record-inventory-compression and foreclosure-stuffed''recovery' will become self-sustaining, there are two rather disappointing 'facts' to ruin...
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Winklevoss Twins Revealed As Owning 1% Of All BitCoins
Think the 75% plunge in BitCoin values in two days has crushed all former supporters of the virtual currency (which truth be told is only back to levels from a month ago)? Wrong. As the NYT reports, a...
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TIC-TIC-TIC: The Ominous Warning In Foreigners' U.S. Bond Positions
Submitted by F.F.Wiley of Cyniconomics blog,When data released last year showed China losing its appetite for U.S. bonds, it didn’t cause much concern. Sure, some bloggers took notice, such as the...
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Goldman Activates The Magic 8 Ball, Can Now See The S&P 500 In 2015 (At 1900)
Just because Goldman's track record at predicting the near-future is so fantastic (Abby Joseph Cohen "forecasting" in March 2008 the S&P would close the year at 1500, or about 40% off), the firm...
View ArticleCash Burning J.C.Penney Scrambles To Raise $1 Billion, Hires Blackstone
It should come as no surprise that struggling retailer JCPenney, which has been burning cash at an unprecedented rate, and which just wasted two years of turnaround time following the sacking of its...
View ArticleCarmen Reinhart: "No Doubt. Our Pensions Are Screwed."
"The crisis isn't over yet," warns Carmen Reinhart, "not in the US and not in Europe." Known for her deep understanding that 'it's never different this time', the Harvard economist drops the truth...
View ArticleGuest Post: Are Individuals The Property Of The Collective?
Submitted by Brandon Smith of Alt-Market blog,Mankind has faced a bewildering multitude of self-made catastrophes and self-made terrors over the past few millennium, most of which stem from a single...
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There Is No Risk Left... Anywhere
Many have argued that sovereign CDS markets 'caused' the problems in Europe - as opposed to simply 'signaled' what was in fact being hidden by cash market manipulation. But as the IMF notes in a recent...
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USDJPY Plummets After US Treasury Says It Should Refrain From "Competitive...
Curious why the USDJPY is in freefall after hours? Thank Jack Lew, and the after the close release of the semi-annual "Report to Congress on International Economic and Exchange Rate Policies."...
View ArticleThe Week That Was: April 8th-12th 2013
Succinctly summarizing the positive and negative news, data, and market events of the week...PositivesHans & Franz Winklevoss own a lot of Bitcoins, this can only end wellYen continues to surge,...
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