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Where Will S&P Futures Re-Open?
It seems the bond market was onto something today in its lack of exuberance. Following the after-hours FrAAnce downgrade, which very conveniently happened 2 minutes after the ES quiet period started,...
View ArticleCiti Has First Reaction To Moody's Downgrade: Not Surprising But More EURUSD...
From Citi's Steven Englander:Moody's downgrades France to Aa1 from Aaa -- negative outlookMoody’s cited deteriorating economic prospects, loss of competitiveness, structural issues and uncertain...
View ArticleGuest Post: More Lies About Your Taxes...
Via Simon Black of Sovereign Man blog,In 1936, the US government began circulating a series of pamphlets to explain its brand new Social Security program, plus the associated taxes. Initially, the...
View ArticleWhen Even Goldman Says The Market Is Broken
Today's market summary from Goldman about sums it up:Though a convincing explanation might be hard to come by, equities posted a serious rally today. Tech leads as those stocks hardest hit of late also...
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Chart Of The Day: Decoupling Has Ended
Via Lance Roberts of Street Talk Live,Over the past year there have been many articles published about the decoupling of the U.S. economy from the the Eurozone. The belief was based on the simple fact...
View ArticleSacrificing The Will Of The People On The Altar of The Euro
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichterThe Eurozone debt crisis is exacting its toll. Convoluted undemocratic taxpayer-funded bailouts of bondholders and banks...
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As Of September 30, Hedge Fund Hotel AAPL-fornia Added One More Guest
The days just prior to the end of the third quarter now appear like a million years away, and a hundred S&P point away, but they were marked by one notable thing: the price of AAPL hit an all time...
View ArticleA Spanish Casa (And Residency) Es Su Casa For $200,000
Unwilling to sacrifice their sovereignty at the altar of the ECB's contingent OMT (and unable to wrench 'help' from their previously colonized friends in Latin America; it seems Rajoy and friends are...
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Is The Largest Weekly Inflow Into Bank Savings Accounts On Record, A Flashing...
When one thinks of America, the word "savings" is likely the last thing to come into a person's head, for the simple reason that the vast majority of Americans don't save: recall that in September the...
View ArticleKyle Bass On The End Of The Debt Super-Cycle
"When you let the politicians run monetary policy, well, that is how it [ends]... All of the ingredients are there [for Japan now] for this vicious cocktail to fall apart" is how Kyle Bass concludes...
View ArticleNow The Hard Part Begins: The China Challenge
Authored by Minxin Pei; originally posted at The Diplomat,Relativity is the key concept in measuring the success of China’s power transition. By this standard, one has to grudgingly congratulate the...
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Hostess Mediation Fails, Liquidation To Proceed; Furious Laid Off Workers Now...
Last week, when discussing the next steps for the company, and specifically the hope that mediation may resolve the epic animosity between management and workers, we stated that "What makes a mediation...
View ArticleGrantham: Biggest Housing Bubble Since 807 A.D. Has Burst
Preface: Many claim that housing is currently experiencing a rebound. Whether or not that ends up being verified, the housing crash which started in 2007 was so massive that it is historic in its...
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Where the Puck is Going
Where the Puck is GoingI skate to where the puck is going to be, not where it has been.Wayne GretzkyWhere the Puck Is Going: Market Shadows Newsletter (Nov. 18 12)This week:Death of an Indicator: Bad...
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Meanwhile, In The Land Of The Setting Sun... And Exports
Things are going from worst to worsterer in Japan. Somewhat ironically (given our recent post), this update to the state of play awaiting Mr. Abe is not good. With the Senkaku debacle flaring still in...
View ArticleGREuphoria, Interrupted... Or Not
UPDATE: *EURO FINANCE CHIEFS REACH DECISION ON GREECE, OFFICIAL SAYSCan't wait to see what they came up with...EURUSD is limping lower (-20 pips to 1.2800) as the early morning hours tick by in Europe...
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The Myth Is Over: Europe Fails To Agree On Greece
Given our earlier comments, it is hardly surprising but the Eurogroup meeting just ended and there is no agreement; headlines via Bloomberg:*FRIEDEN SAYS NO DECISIONS REACHED TODAY ON GREECE BY...
View ArticleStimulating The Public Sector, Suffocating the Private Sector: A French...
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichterMoody’s, when it stripped France off its AAA rating on Monday, had a laundry list of laments: “sustained loss of...
View ArticleEuropean 'Austerity' Update
As we highlighted a few months back for Spain, the word 'austerity' appears to mean something different than we thought. Portugal just announced:*PORTUGAL SAYS JAN.-OCT. SPENDING RISES 0.7%...
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Guest Post: Canada's Junior Oil Companies Swap Growth for Income
Via Keith Schaefer of OilPrice.com,[ZH: A perfect example of what we discussed yesterday...]The leading Canadian junior oil companies are doing whatever they can to create value for their...
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