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Iran Turns Embargo Tables: To Pass Law Halting All Crude Exports To Europe
In what is likely a long overdue move, Iran has finally decided to give Europe a harsh lesson in game theory. Instead of letting Euro-area politicians score brownie points at its expense by threatening...
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Is Europe Starting To Derisk?
While the ubiquitous pre-European close smash reversal in EURUSD (up if day-down and down if day-up) was largely ignored by risk markets today (as ES - the e-mini S&P 500 futures contract - did...
View ArticleIs This Why US Rail Traffic Is So Strong?
Also, if we were Mexico (or is that East LA?) we would be nervous. Very, very nervous. On the other hand, long-opressed Mexican crude may soon be liberated.
View ArticleFitch Gives Europe Not So High Five, Downgrades 5 Countries... But Not France
Festive Friday fun: FITCH TAKES RATING ACTIONS ON SIX EUROZONE SOVEREIGNS ITALY LT IDR CUT TO A- FROM A+ BY FITCH SPAIN ST IDR DOWNGRADED TO F1 FROM F1+ BY FITCH IRELAND L-T IDR AFFIRMED BY FITCH;...
View ArticleDebt Ceiling 101, Santelli Sounds Off
In an effort to reach the angry mob, CNBC's Rick Santelli goes all Sesame Street on the numbers behind the US Debt Ceiling Rise. Focusing for two minutes on what this practically means for every man,...
View ArticleExplaining Modern Finance And Economics Using Booze And Broke Alcoholics
Courtesy of reszatonline, who brings us the following allegory by way of Tim Coldwell, we are happy to distill (no pun intended) all of modern economics and finance in a narrative that is 500 words...
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David J. Stern | Foreclosure King to Burger King, Stern buys into Five Guys...
So, yesterday I got word that David J. Stern is buying up all the Five Guys Burgers in the country. My source in Fort Lauderdale tells me that attorney David J. Stern has rolled over his $Millions in...
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Is High Yield Credit Over-Extended?
"Reach for yield" is a phrase that never gets old, does it? Whether it's the "why hold Treasuries when a stock has a great dividend?" or "if this bond yields 3% then why not grab the 7% yield bond -...
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DAVOS 2012: WoRLD PoNZiNoMiC SuMMiT C0MMeMoRaTiVe FeBRuaRY CaLeNDaR (THe...
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View ArticleThe Silent Anschluss: Germany Formally Requests That Greece Hand Over Its...
Update 2: the first local headlines are coming in now, from Spiegel: Griechenland soll Kontrolle über Haushalt abgeben (loosely Greece must give up domestic control), and Kathimerini: Germany proposes...
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Biggest Week For Gold In 3 Months
While Silver had a better week than Gold (+5.4% vs 4.3%), Gold managed its biggest gain in three months as the Fed's QE-ness seemed to separate the precious metals from other asset classes. Oil...
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Citi Joins The Cost-Cutting Ranks By Slashing Bonuses Up To 70%
Bloomberg's Trish Regan (yes, she is no longer at CNBC), has just announced that the bank which earlier announced it is shutting down its catastrophic prop trading desk (at which point shreholders let...
View ArticleFriday Tragedy: The US Debt Limit Explained
Ordinarily this space would be reserved for Friday humor, but unfortunately, this is nothing short of a tragedy, especially since as of today the US debt target is $16.394 trillion, a number which will...
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Endgame Begins - UK "Foreign Office Sources Say Merkel Now Thinks Greece Will...
Courtesy of the BBC's Andrew Neil, on the back of the previously noted formal annexation demand of Greece by Germany: Of course, this is what we, and everyone else whose frontal lobe has not bee...
View ArticleAbysmal news for Greek Bonds and Debt Swap Negotiations
Once again, hope is pervading the media that an agreement might be reached between the Greek government and private sector investors on a debt swap, maybe even this weekend, though everyone is...
View ArticleWeekly Bull/Bear Recap: January 23-27, 2012
Submitted by Rational Capitalist Speculator Weekly Bull/Bear Recap: January 23-27, 2012 Bull + The ECB’s Long-Term Refinancing Operation (LTRO) has clearly quelled fears of an imminent liquidity...
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Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital
Russ focuses on Japan's problems in this article, but Japan's not alone when it comes to the list of countries with ponzi-like financial systems. ~ Ilene Largest Central Banks Now Hold Over 15...
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Cutting Into Muscle - The Record Corporate Margin Juggernaut Has Just Rolled...
In this week's chartology from Goldman's David Kostin there is the usual plethora of useful data, but two slides deserve a very special mention because with 39% of the S&P already reporting Q4...
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Tomorrow And Tomorrow And Tomorrow: The IIF Is Full Of Sound And Fury,...
Just one recursive headline to fool them all, and in the darkness run away. h/t Andrew Yorks
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