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Because Fundamentals Matter?
Presented with little comment aside to note that US equities are once again resurgent near all-time highs fully supported by err... umm... fundamentals. Bottom-Up? Top-Down? Charts: Bloomberg and...
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Guest Post: A Bubble So Big We Can't Even See It
Authored by Steve Keen via Real-World Economics Review,Before the current turmoil began, Federal Reserve Chairman Ben Bernanke's hope was that rising asset prices would lead to a "wealth effect" that...
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A Tale Of Two Growth Outlooks
Just over a month ago, global earnings revisions were on the upswing (admittedly off markedly low levels); since then they have turned sharply lower to the worst levels in a year (based on Citi's...
View ArticleGuest Post: Bugging Out of the D.C. Burbs
Guest Post: Bugging Out of the D.C. BurbsbyMrs. Cog (And now a few words from my better half on creating a lifestyle change we can live with. - Cognitive Dissonance) If there is one thing I...
View ArticleEverything You Wanted to Know about Spying … But Were Afraid to Ask
If you've been too busy to keep up with the spying scandal, here's an overview:The government is spying on virtually everything we do The government’s mass spying doesn't keep us safe NSA spying did...
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Citi: "No Gold Company... Will Generate Free Cash Flow At Current Gold Prices"
After updating their precious metals' company cost curve, Citi's ominous warning that, "a combination of rising unit costs (15% yoy), sustained high capital budgets and a falling gold price have...
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What Germany Thinks Of "The Biggest Bugging Scandal In History"
Having taken the US, Hong Kong, Russia, Europe and of course Latin America by storm, Snowden's revelations are now focusing on the symbiotic relationship between the NSA and Germany's (very...
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The Reason For China's Epic 1 Trillion Yuan Deleveraging: The Biggest Housing...
Those reading Bloomberg stories tonight may be surprised to find for the first time the mainstream media attempts to quantify the epic deleveraging that China - the economy which has only grown in the...
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Bonds Best, Stocks Rest, And USD Depressed
Following Friday's ugliness in bond-land, today saw the Treasury market's best day in around 13 months as UST are starting to look a lot like JGBs in terms of volatility regime - which really won't...
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Here Is Why Alcoa Just "Beat" Earnings
Moments ago Alcoa reported adjusted earnings (because the unadjusted earnings were a disaster) of $76 million, or $0.07, on consensus expectations of a $0.06 print. In other words, a beat. So just how...
View ArticleFact Or Fiction: Booming Tear Gas Industry Continues To Lead Global Economic...
"The market for tear gas just keeps growing and growing... We can only hope that more people demand tear gas and the recovery will be here sooner than we thought," said an analyst.(Starts at 0:19)...
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The Remarkable Goldman Extrapolation Engine Strikes Again
When it comes to Muppet-bating, there is still only one; and "The Highlander" of all strategists is none other than Goldman's David Kostin. His somewhat-exuberant year-end target for the S&P 500 at...
View ArticleKen Rogoff: "Policymakers Should Be Cautious Seeing Gold's Drop As A Vote Of...
Authored by Kenneth Rogoff, originally posted at Project Syndicate,In principle, holding gold is a form of insurance against war, financial Armageddon, and wholesale currency debasement. And, from the...
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CNBC Viewership Collapse Continues; Cramer, Kudlow Audience At Record Lows
What can be said here that we haven't said countless times before? If the braintrust behind Comcast's acquisition of the CNBC package deal, not to mention assorted increasingly more desperate CNBC...
View ArticleRainman Economics
Via James Howard Kunstler via Kunstler.com,Like entropy, the diminishing returns of technology never sleep. The hubristic techno-narcissism of the day, as seen in mankind’s efforts to fake-out the...
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A Historic Inversion: Gold GOFO Rates Turn Negative For The First Time Since...
Today, something happened that has not happened since the Lehman collapse: the 1 Month Gold Forward Offered (GOFO) rate turned negative, from 0.015% to -0.065%, for the first time in nearly 5 years, or...
View ArticleRadioactive Tritium At Record High Levels In Fukushima Ground- And Sea-Water
With the Western (and Japanese) media focused almost entirely on the actions of their central-planners-in-chief and how effective they are, it seems human's omnipotence over complex systems is being...
View ArticleU.S. Government’s Secret Move To Hide Files On The Osama Bin Laden Raid
Submitted by Michael Krieger via Liberty Blitzkrieg blog,The Osama Bin Laden raid was suspect from the very beginning. Not only were key initial descriptions of the assault completely incorrect (such...
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The Golden Backwardation Rabbit Hole Gets Deeper: Subzero GOFO Slide Accelerates
Yesterday we described the historic inversion in the Gold Forward Offered Rate, where the 1 and 3 Month GOFO rates sliding into negative territory for the first time since 2008 and 1999 respectively....
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Crude Soars To $104 Dragging Equities With It In "Summer Of 2008" Flashback
Anyone who followed today's trading action with a very distinct sense of summer of 2008 deja vu dread, where soaring crude led to just one thing, soaring stocks, they are forgiven, because this is...
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