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Nonfarm payrolls should fall by 377,000 (But they won’t)
Nonfarm payrolls should fall by 377,000 (But they won’t) Courtesy of Lee Adler of the Wall Street Examiner Let’s play “guess the nonfarm payrolls.” After all, our guess is as good as the conomists’,...
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Net Worthless: People As Corporations
US Households haven't shaken their 'junk bond' credit rating, given their poor income statement and balance sheet. Reversing Mitt Romney's famous quote "corporations are people", Bank Of America...
View ArticleThis Month In Fascism
America Slides Into Fascism The U.S. Supreme Court, based on the urging of the Obama administration,- has ruled that any prisoner - even those arrested for offenses such as dog leash laws, peaceful...
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2012 - 2013 Corporate Margin Bridge In One Word: "Magic"
At the end of January we first discussed the rolling over of corporate margins and sure enough the consensus for 2012 margin compression has turned our way with only 42% of the S&P 1500 now...
View ArticleRosenberg Ruminates On Six Roadblocks For Stocks
There is no free-lunch - especially if that lunch is liquidity-fueled - is how Gluskin-Sheff's David Rosenberg reminds us of the reality facing US markets this year and next. As (former Fed governor)...
View ArticleIs William Cohan Right That Wall Street "Regulation" Has To First And...
Now that the world is covered in at least $707 trillion in assorted unregulated Over the Counter derivatives (as of June 30, the most recent number is easily tens of trillions greater) and with at...
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An Apple A Day Once Again Kept The Market Crash Away (Until After-Hours)
Despite a grumpy open in the major cash equity indices - which opened pretty much in line with where S&P futures had closed on Friday morning - equity indices provided some BTFD reassurance for any...
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Putting It Into Perspective: Bruno Iksil's $100 Billion Position Makes Him...
With the story of Bruno Iksil refusing to be swept under the rug (for now), we had the urge to show just how his position stacks up in comparison to the CDS holdings for all the bank holding companies...
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Guest Post: Two Kinds of Black Swans
Submitted by John Azis of Azizonomics Two Kinds of Black Swans The black swan is probably the most widely misunderstood philosophical term of this century. I tend to find it being thrown around to...
View ArticleBernanke Speech Released, Prepared Remarks Uneventful, Looking Forward To Q&A
Many are eagerly awaiting Bernanke's opening speech at the 2012 Financial Markets Conference "The Devil’s in the Details" which just like last year had nothing in the prepared remarks about the market,...
View ArticleBig Brother Everywhere
Wolf Richter www.testosteronepit.com The other day, a friend of mine, who was installing Skype on a new computer, was baffled when Skype suggested all sorts of contacts that weren’t on his Skype...
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Guest Post: The Wrong Answer
Submitted by the Finance Addict The Wrong Answer So here’s an interesting question from American Banker. Mind you, American Banker is an industry trade publication. It boasts that “when financial...
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Obama Invests $5 Million In Bullshit Energy
Just when we thought we had seen the epic failure of every single possible "alternative energy" project by this administration, along comes the announcement that the USDA is investing $5 million in a...
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VIX Stays Above 20% As Equities Close At Lows
ES (the S&P 500 e-mini futures contract) tested up to its 50DMA and rejected it early in the day (after some rhetorical enthusiasm from the ECB's new French contingent - surprise!). The 10pt rally...
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The Scariest Chart For High Yield Bond Holders
We have been pointing to the 'changes' that are evident in the high yield credit market (bonds, credit derivatives, and ETFs) for a few weeks now. The fall in the high-yield bond advance-decline line...
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Where Dong Is Weak, Gold Rules - In Vietnam They Will Pay You To Store Your Gold
Submitted by Simon Black of Sovereign Man They Will Actually Pay You To Store Your Gold Here’s something you don’t see every day: Banks in Vietnam will actually pay YOU to store your gold in one of...
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Pimco Takes Record MBS Position Even Higher, Dumps Treasurys
The trend continues: as has pointed out here every month for the past five months, Pimco's Bill Gross continues to layer into the "NEW QE" trade, only this time he is making it more clear than ever...
View ArticleEurope Will Collapse in May-June
The following is an excerpt from a client letter published back in mid-March. By the look of things, this forecast is playing out precisely. Starting back in August, I began suggesting that we were...
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Goldman Previews Q2: Sees 150K Jobs Per Month Created, And A Slowing Of The...
In its latest note, Goldman is not providing any actionable "advice" which is naturally to be faded and would have been thus quite profitable, but merely updates its outlook for the second quarter,...
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