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Chart Of The Day: Retail Sales & Excuses
Submitted by Lance Roberts of StreetalkLive.com Chart Of The Day: Retail Sales & ExcusesRetail sales, as I expected, have turned out to be much weaker than what the National Retail Federation...
View ArticleUS Treasury "Rises Above" The Debt Ceiling - Now What?
When Tim Geithner announced an hour ago that the US debt ceiling will officially be "risen above" on December 31, he stated that there are approximately two months in which the Treasury can take...
View ArticleWhere The Heck Was The “Festive Spirit?"
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichterShocked and appalled—that was the reaction to the shopping-season debacle unfolding in the US. It was triggered by MasterCard’s...
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The Octagon Of Oligarchy: Meet China's "Eight Immortals" - An Infographic
America may have the Octogenarian (Oracle) of Omaha but China has the Octagon of Oligarchy: an octet of the families that run the world's (still) fastest growing, marginal economy, which by extension...
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The Broken Shark-Tank Fallacy
If breaking one window in a Keynesian utopia is good, then breaking moar windows is betterer; and it appears, therefore, our friends across the Pacific will be celebrating the rebirth of the Chinese...
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The Annotated Kyle Bass 'Short-Japan' Thesis
With JPY bleeding lower once again overnight extending to 28-month lows against the USD (and the long-end of the JGB curve starting to show some signs of anxiety), it is perhaps timely to revisit Kyle...
View ArticleTokyo Almost As Irradiated As Fukushima
Tokyo Almost As Irradiated As Fukushima We’ve documented the spread of radiation from Fukushima to Tokyo for a year and a half. See this, this, this, this, this and this.Unfortunately, as the...
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AAPL, Market Go Vertical On House Conference Call News
It appears that our expectation for a 3:35 pm rumor was some 45 minutes too late. No sooner than headlines crossed the wires that:*U.S. HOUSE SAID TO PLAN 6:30 P.M. SESSION ON DEC. 30*REPUBLICAN AIDE...
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Reid-Off; Boehner-On; McConnell-Off; Reality-Gone
UPDATE: ES -7 after-hours from closing highs (McConnell-Off)Equity markets started the day off slowly but with confidence disappointing and Harry Reid's name-calling, not even the arrival of the chosen...
View ArticleGuest Post: No More Industrial Revolutions, No More Growth?
Submitted by Charles Hugh-Smith of OfTwoMinds blog,The common feature of the transformative technologies of the 20th and 21st centuries is that they were one-offs that cannot be duplicated.What if the...
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Savings Deposits Soar By Most Since Lehman And First Debt Ceiling Crisis
A month ago, we showed something disturbing: the weekly increase in savings deposits held at Commercial banks soared by a record $132 billion, more than the comparable surge during the Lehman Failure,...
View ArticleAnother Bait And Switch: Congress Defeats E-Mail Privacy Legislation... Again
Submitted by Michael Krieger of Liberty Blitzkrieg blog,This is how the corporate state rolls. They remove all the important stuff at the last minute, you know, like provisions that might actually...
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Fiscal Thursday – Last Ditch Efforts
Fiscal Thursday – Last Ditch EffortsCourtesy of Phil of Phil’s Stock World 4 more days!This is much more exciting than Christmas. So exciting that President Obama and Congress have cut short their...
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The Farce Is Complete: In The Case Of Countrywide, Congress Finds Itself...
Just when you thought the seemingly endless rabbit hole of Wall Street-Washington corruption, cronyism, co-option, crime and kickbacks may have finally come to an end, here comes the House Ethic...
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Facebook Censors Prominent Political Critics
We’ve previously documented that the largest social media websites censor government criticism.For example, Facebook pays low-wage foreign workers to delete certain content based upon a censorship...
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Guest Post: Jobless Claims Not Translating Into Full-Time Jobs
Submitted by Lance Roberts of Street Talk Live blog,"CNN Money: The number of newly unemployed seeking jobless benefits fell more sharply than expected last week, taking a key reading to its lowest...
View ArticleThe Real Crisis: "People Have Lost Trust In The Government And The Market"
The death of the 'cult of equities' was a popular topic this year among both fringe blogs and the best-known institutional asset managers and sell-side strategists. As AP discusses in this excellent...
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Obama: "My Offer Is Nothing" - Stocks Plunge
Looks like today everyone in Congress was short. Here's why:OBAMA SAID NOT TO MAKE NEW OFFER IN FISCAL CLIFF TALKSOBAMA OFFER DETAILED BY SOURCE FAMILIAR WITH WHITE HOUSE MTGOBAMA SAID REITERATING...
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VIX Snaps To Six-Month Highs On Longest Stocks Slump Since May
For the first time since May, the S&P 500 has fallen for 5 days in a row. VIX has very much heralded the fact that investors were not as bullish as media-types would like to believe - as we have...
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Bloodbath
Finally, the market realizes that it was the patsy all along. This is what a real cliff looks like:Of course, none of this news to any of our readers. From November 13:Once again, it will be up to the...
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