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Venezuela Runs Out Of Toilet Paper
To vaguely paraphrase Mike Tyson, "everyone has a plan for a socialist utopia, until they run out of toilet paper."This is just what happened to Venezuela, where in the image vacuum left following the...
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US Dollar Surges To Near 3-Year High
Moments ago the USD value basket - the DXY - rose to highs not seen since July 2010. The recent 6.6% swing is at an annualized 25% rate of appreciation. The dollar appears to have now become the...
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The Ugly Truth Behind Spain's First Trade Surplus In Over 40 Years
Earlier today, Spain reported its first trade surplus since 1971, with exports of €20.3 billion finally surpassing imports of €19.7 billion and ending over four decades of constant trade deficits....
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IRS Witch-Hunt Congressional Hearing Begins - Live Webcast
While unlikley to have the kind of fireworks of Holder and Issa, we suspect President Obama will be biting his nails a little at the inability to control the questions asked here as IRS ex-top-man...
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Chinese Profitability Squeezed Further By Third Year Of Double-Digit Wage Gains
For the third year in a row (since the crisis) average pay at private companies in China surge by greater than double digits - far outstripping GDP growth. 2012 saw a 17.1% nominal rise in average...
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Michigan Confidence Soars To Highest Since 2007, Biggest Beat Of Expectations...
In a day devoid of any A-grade economic data, the stop hunting GETCO USDJPY algos had no choice but to look forward to such reflexive C-grade indicators as the UMich Consumer Confidence index, where...
View ArticleGoldman Issues Q&A On Tapering: Says "Not Yet"
On one hand we have bad Hilsenrath sending mixed messages saying the Fed may taper sooner (with good Hilsenrath chiming in days later, adding it may be later after all), depending on whether HY bonds...
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Charting Irrational Credit Bubble Exuberance Euphoria
If there is one market that represents the sheer unbridled lack of respect for risk it is the Greek Government bond market. In the last year, GGB prices have surged 380% from under EUR 14 to almost EUR...
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Italy's New Government Approval Rating Plummets From 43% To 34% In Three...
It was less than a month ago that the new Italian government of the pseudo-technocrat Letta, of Bilderberg 2012 and Aspen Institute fame, was voted in by a majority of the PD and the PDL parties (the...
View ArticleSaturday Humor: The Fed Is Hiring
Now that the Federal Reserve has hired every single pennystock trader and momentum-chasing algo in the world (or at least is enjoying Citadel's helping hand in regards to the latter) it is time for the...
View Article"Boldly They Rode And Well", Or Why Japan Is Not America
Submitted by Daniel CloudBoldly They Rode And WellI believe that Shinzo Abe has made a very serious strategic miscalculation. I used to be confused in much the same way he now seems to be, but I was...
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Class of 2013: The Most Indebted Ever
70% of graduates had at least some debt according to the latest poll from Fidelity Investments but as the Wall Street Journal reports the average student-loan debt for a borrower who received a...
View ArticleThe Quiet Triumph Of Oil And Gas In Obama’s Policies
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichterIt was announced Friday afternoon, when no one was supposed to pay attention: after years of controversy, heated rhetoric,...
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Guest Post: Why Bonds Aren't Dead & The Dollar Will Get Weaker
Submitted by Lance Roberts of Street Talk Live,There have been quite a few bold predictions, since the beginning of the year, that the dollar was set to soar and that the great "bond bullmarket" was...
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Visualizing The Silver Squeeze
Despite 'crashes' in the market, the demand for physical silver continues to rise. "Buyers are already outpacing sellers by a stunning 50-to-1 ratio. We are seeing the beginning of shortages; but this...
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The Bermuda Triangle Of Economics
Excerpted from Jacob Steen's Chronicle blog at Tradingfloor.com,The mystique of the Bermuda Triangle has caught the imagination and interest of generations. In much the same way it has also caught my...
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What Did Obama Know About The IRS (And When)?
Amid the sound and fury of yesterday's IRS hearing were a few small tidbits which raise significant questions about who knew what and when within the Obama administration. While getting the answer (the...
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It’s Official: Gold Is Now The Most Hated Asset Class
Submitted by Pater Tenebrarum of Acting-Man blog,Full Court PressNot a day passes without the financial media denouncing gold as an investment option and hailing the bureaucrats heading the world's...
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Guess Who The Dirtiest Dirty Shirt Is
We continue to hear that the US is the cleanest dirty shirt or that the US economy is doing 'relatively' well as a reason for buying stocks now. Not only is this plainly incorrect (as we have pointed...
View ArticleStunning Time-Lapse Video Of 2-Mile Wide Oklahoma Tornado
Courtesy of NBC, here is 10-x sped up footage of the massive 2-mile wide tornado ripping through Oklahoma one short hour ago.And another:
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