Total Capitulation Of The Bears
Monday, September 8, 2014 5:16 AM EDT
One of Wall Street's “Biggest Bears” throws the towel...
Articles
Draghi’s War On Savers And The Euro
Friday, September 5, 2014 12:29 PM EDT
In his Jackson Hole speech, Mario Draghi already hinted at further ECB interventions, pointing out that 5 year forward inflation breakevens indicated that long term inflation expectations had fallen below 2% (i.e., 2% CPI rate of change).
The Credit Gradient
Thursday, September 4, 2014 10:20 PM EDT
A gradient describes a change in concentration as you move through a range of coordinates. There is always a credit gradient. Only now, the Federal Reserve has artificially enhanced the gradient to an extreme. The end result is not surprising.
Are US Consumers Evil Hoarders?
Thursday, September 4, 2014 3:34 PM EDT
A recent Fed paper reports that the Fed's wild money printing orgy has failed to produce much CPI inflation because “consumers are hoarding money”. It is said that this explains why so-called “money velocity” is low.
European Banks – Still Full Of Holes?
Thursday, September 4, 2014 8:00 AM EDT
The ECB is currently busy stress-testing all “systemically relevant” banks in the euro area, the supervision of which it is going to take over as part of the banking union plan later this year.
Here Come The Money Helicopters
Tuesday, September 2, 2014 7:56 AM EDT
The summer is slipping away. In the morning, mists hang over the fields. The chestnut trees have already turned a rust color. We start a fire in the kitchen fireplace to keep our mother warm.
Gold Stocks And Gold – Potentially Bullish Developments
Monday, September 1, 2014 5:41 PM EDT
As we have mentioned in previous updates on the gold sector, few things are more important for its likely future performance than how gold stocks are performing relative to gold
Should We Fear The March Of The Robots?
Sunday, August 31, 2014 4:42 PM EDT
Pater Tenebrarum argues that as long as the free market is allowed to operate (even in severely hampered form) there will be things to do. But what?
Argentina – Sliding Down A Slippery Slope
Wednesday, August 27, 2014 7:35 AM EDT
Argentina's government has attempted to move its debt out of the reach of US courts by swapping its debt for new debt issued under local law.
Comfortable Myths About High Yield Debt
Tuesday, August 26, 2014 12:12 PM EDT
Here is a small addendum to our recent articles on the corporate debt bubble (“A Dangerous Boom in Unsound Corporate Debt”) and the associated derivatives-berg, which is intended to hedge both the credit and interest rate risk this credit boom has given rise to (“A Perilous Derivatives-Berg”).
The Stock Market’s Rebound – Internals Are Weakening
Monday, August 25, 2014 4:44 PM EDT
Keeping in mind that a number of important historical market peaks have been recorded in late August/early September, here is a brief look at how the most recent rally leg stacks up in terms of its internals.
Wall Street’s Back Picking-Up Pebbles In Front Of The Steamroller...
Saturday, August 23, 2014 12:00 PM EDT
Since the adoption of the pure fiat money system, credit growth has literally gone “parabolic” all over the world.
The WGC’s Gold Supply-Demand Nonsense
Friday, August 22, 2014 6:43 AM EDT
The WSJ recently reported on the latest gold supply-demand report issued by the World Gold Council. It isn't really a surprise to us, but it is nevertheless astonishing that an organization that is supposedly focused on gold can get the market's most fundamental aspects so utterly wrong.
In this article: GLD
What Is Behind The Inequality Promotion?
Friday, August 22, 2014 4:54 AM EDT
One question that remains to be answered is what the reason for the relentless promotion of the inequality meme in the mainstream media is.
Armchair Planners And The ECB
Wednesday, August 20, 2014 3:08 PM EDT
While the ECB keeps talking about what it might possibly do, its actual policy choice is a rather odd mixture, as Sharmila Whelan of Asianomics recently pointed out. On the one hand, it is evident that a policy of internal deflation has been embarked upon in the euro area.
Ms. Yellen And Inflation
Wednesday, August 20, 2014 1:28 PM EDT
Ahead of the Jackson Hole pow-wow, where a bunch of central bankers and establishment-approved intellectuals advising them will soon meet, it may be worth taking a look at what motivates the policies of the new Fed chair.
