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On Krugman's Epiphany
Paul Krugman is one of the leading “names” in economics today. There are reasons for his stature. He’s got a Nobel Prize, he’s an academic at a leading University, he writes for the NY Times, and not...
View ArticleDick Durbin "Hard To Get To An Agreement Tonight"
It's not even 6 pm yet (futures open time) and all that early optimistic momentum hard procured by splinter GOP Senators, is slowly but surely, being extinguished. Enter Dick Durbin, the second ranking...
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Market Opens Near Friday's Lows As Senate Gives Up (Early) For The Night
UPDATE: ES scrambled up to Flash-Crash lows at 1391.5No Deal; No Deal. The updates came thick and fast and almost entirely full of nothing until Harry Reid called a halt to proceedings:*REID SAYS...
View ArticlePity the Payrollers - America's Unsung Heros of the Fiscal Cliff.
It will be natural to sing the praises of our elected leadership after they have hammered out their deal to raise taxes in order to avert the crisis. To recall that raising taxes is ever always the...
View ArticleGuest Post: Fiscal Cliff Contingencies
Via Nic Bucheleres of NJBDeflator blog,While debate over the Fiscal Cliff mostly centers around its latent whiplash effects on the United States economy, its inception is wholly a product of poor...
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JuMP YoU F*#CKeRS!
The Man in the High Choom Castle.. . "With the slightest disturbance, the dream is going to collapse."--Inception
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China PMI Surges To 19-Month High - US (And Chinese) Equities Sigh
There was a time when the US was the cleanest dirty shirt; it seems now, given the US equity futures' (total lack of) reaction to tonight's 19-month-high surge in the ever-trustworthy over-invested...
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Obama Said No Deal, McConnell Denies, Says "Agreement Reached On All Tax Issues"
Just when one thought the posturing couldn't hit more ridiculous levels, here comes GOP Senator Mitch McConnell refuting what the president said, refuting the supposed GOP revulsion to the president's...
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The Fed's Inflation Will Crush Emerging Markets
A final feature of the Fed’s decision to implement QE 4 will be greater inflationary pressures. This will result in lower economic growth (in real terms) as well as higher operational costs, which...
View ArticleAnd The Market Breaks
Right on cue. NYSE: ISSUE AFFECTING ORDER PROCESSING IN 26 SYMBOLSNASDAQ HAS DECLARED SELF-HELP AGAINST NYSE AS OF 15:18:16 ETNYSE ANNOUNCES ISSUE AFFECTING ONE MATCHING ENGINEPerhaps now is a good...
View ArticleBehold The Brains Behind Ben Bernanke's Binary Black Box
When it comes to the decisions made by a group of academics behind closed doors to keep the stock market in nominal terms up at all costs (nevermind such trivial matters as the jobless rate, inflation,...
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US To Officially Go Over The Fiscal Cliff
As we forecast back in November, it is now official that the House will not vote on any deal out of the Senate, assuming there is one which there won't be of course, later today, which means America...
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3% Market Ramp... On No Deal, And On Debt Ceiling Breach
S&P 500 futures staged a 3% rally off their overnight lows - taking them back to 3-day highs as headline after headline triggered another round of stop-runs. VIX compression led the way as hedges...
View ArticleSenate Deal "Apparently Short Of Needed Support"
Update: U.S. Senate will attempt to vote on fiscal cliff Monday night, but still work to be done - Sen. Kyl. So the deal is done, but there is "hope" it passes. Should be good for another 10 ES...
View ArticleGovernment and Big Banks Joined Forces to Violently Crush Peaceful Protests
The definition of fascism used by Mussolini is the “merger of state and corporate power“.Government and the big banks are in a malignant, symbiotic relationship. And our economy now exhibits a merger...
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China PMI Prints Most "Schrodinger-ish" In 23 Months As Japan Ups Growth 'Guess'
It's 815ET on New Year's Eve and China PMI just printed below expectations at 50.6 - very marginally in expansion. The trouble is this is now the most divergent from the HSBC China PMI since January...
View ArticleSenate Agrees To Kick Can For Two Months; Breached Debt Ceiling Untouched
Well, we appear to be nearing a mini 'delay' deal of some sort. The agglomeration of headlines continues with Senate deals on and off, Biden proclaiming victory yet Senate Democrats are said not have...
View ArticleCiti's Worst Case Scenario Coming True: House To Amend Bill, Send Back To Senate
UPDATE: *LATOURETTE SAYS CANTOR WON'T SUPPORT BILL `IN CURRENT FORM'It seems all is not going according to plan in D.C.. Perhaps it was the $4 Trillion deficit rampage the CBO just scored, or that the...
View ArticleGuest Post: 2013 - Market Outlook & Economic Forecast
Submitted by Lance Roberts of Street Talk Live blog,We can’t predict the future – if it was actually possible fortune tellers would all win the lottery. They don’t, we can’t and we aren’t going to try...
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What Happened The Last Time Gold And Central Banks Were So Far Apart?
From 9/11 on, Gold and the world's central bank balance sheets were as correlated as over-consumption and a hangover (and linked just as causally we suggest). Then a funny thing happened in 2008 - gold...
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