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How Many Cars Must Tesla Sell: This Interactive Calculator Has The Scary Answer
With the story du jour of electric car wunderkind Tesla so far only just that, a story (inasmuch as the gorgeous Fisker Karma was also just that at least until the day it transformed into a bankruptcy...
View ArticleAnd Just In Case Abenomics Fails...
Whether the Japanese government guessed that the 150% annualized surge in the nominal price of their stocks, or 30% devaluation was unsustainable is questionable, but it seems that 'Plan B' is being...
View ArticleDetroit Bankruptcy Imminent
Following the State's takeover of Detroit's finances in March, it seems the end is growing 'nigh'er for the troubled city. According to the WSJ, Kevyn Orr, Detroit's emergency manager, plans to call...
View ArticleRon Paul: "Iraq Collapse Shows The Bankruptcy Of Interventionism"
Submitted by Congressman Ron Paul via The Free Foundation blog,May was Iraq’s deadliest month in nearly five years, with more than 1,000 dead – both civilians and security personnel -- in a rash of...
View ArticleGuest Post: Japan’s Easy Money Tsunami
Submitted by David Howden of the Ludwig von Mises Institute,The Bank of Japan has embarked on one of the most inflationary policies ever undertaken. Pledging to inject $1.4 trillion dollars into the...
View ArticleGSE Privatization, Or "Fed Magic" - Here Are The Alternatives
Between Fairholme's back-up-the-truck in GSE Preferreds (demanding his fair share of the dividend), the crazy oscillations in the common stock of FNMA, and the ongoing debacle of what to with the...
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The Problems With Japan's "Plan (jg)B": The Government Pension Investment...
“So long as public funds ultimately are governed by the government, which is controlled by representatives of the general public, risk tolerance is subject to the general public’s risk tolerance, and...
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The Quantitative Beatings Will Continue Until Economy Improves
The Fed’s purpose, when it comes down to it, is to buy bonds. Under their various “Quantitative Easing” (QE) programs, they sure have bought a lot of bonds. This pushes up the price of the bonds....
View ArticleEgypt Still in Dire Straits
Talks are still on-going between the IMF and Egypt over future loans worth up to $4.8 billion to get the country back on its feet. Arab aid from the IMF in the entire region has hit the $10 billion...
View ArticleFrontrunning: June 5
National Security Advisor Tom Donilon resigning, to be replaced by Susan Rice - Obama announcement to followJapan's Abe targets income gains in growth strategy (Reuters), Abe unveils ‘third arrow’...
View ArticleTrade Wars: The Chinese Empire Strikes Back
We reported yesterday that Europe, in a surprising escalation of global trade wars, announced it would impose solar-panel duties against China in one week, with the terms rapidly deteriorating over the...
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ADP Misses Expectations, Second Worst Print In Last 8 Months; Sequester Blamed
By now it is futile to point out the woeful inability of the ADP report to predict the NFP's ARIMA X 12 output of pure noise so we'll leave it at that. Here is the headline: May private payrolls...
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Hourly Compensation Crashes Most Ever, Labor Costs Drops By Most In 4 Years,...
So much for the thesis of declining labor slack and rising labor leverage. Moments ago the BLS reported its Q1 labor costs which poured cold water over all recent hypotheses that the US worker's plight...
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Worst Month For Mortgage Applications Since 2009 Driving Mass Layoffs
This morning's 11.5% week-over-week plunge in mortgage applications is the fourth week of fading demand in a row as it appears the bloom is very much off the rose of the second-coming of the housing...
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What Happens When the Markets Lose Life Support?
Stocks are on borrowed time. The single item that has driven stock prices over the last four plus years (since the 2008 Crash) has been the Fed’s expansion of its balance sheet. David Rosenberg of...
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What's a Fannie Worth?
How about Fannie's stock of late? The low-high for May saw a 660% swing. There were several days of +200Mn shares crossing hands. The stock fell off a cliff at $5.40 and 36-hours later it was back...
View ArticleECB To Launch EU-Wide Audit Of Bank's Balance Sheets
France and Italy are fighting against ambitious plans by the ECB to basically 'externally audit' 140 banks across the EU representing 80% of Europe's banking assets. The implementation of the project...
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Non-Manufacturing ISM Comes In Line, Factory Orders Miss: Inventory To Sales...
Despite market bull hopes for a collapse in the non-manufacturing ISM (remember: bad news is good news for momentum chasers and the Mandarins of Marriner Eccles) and a repeat of the sub-50...
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The NSA, AT&T And The Secrets Of Room 641A
Our final observation on the matter of the US government, no longer accountable to anyone, and treating its citizens as indentured debt serfs who are entitled to precisely zero privacy rights, comes...
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European Bonds Plunge Most In 3 Months, Stocks Slump
Portugal suffered the most - with its bond spreads now a huge 45bps wider on the week. It seems between the ever-increasing vol in Japan, a rapidly fading JPY carry funding mechanism, and lack of fresh...
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