goldmoney.com / By Alasdair Macleod / 24 October 2014
The behaviour of financial markets these days is frankly divorced from reality, with value-investing banished.
Markets have become distorted by Rumsfeld-knowns such as interest rate policy and “market guidance”, and Rumsfeld-unknowns such as undeclared market intervention by the authorities. On top of these distortions there [...]
caseyresearch.com / Chuck Butler / October 24, 2014
In This Issue.
* Currencies eke out small gains. * Eurozone AQR results on Sunday. * Brazilian election on Sunday, finally! * China’s Gold demand in 2013 reaches 2,199 tonnes!
And Now. Today’s A Pfennig For Your Thoughts.
A Good Data-Wise Week For China.
Good Day!… [...]
globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Thursday, October 23, 2014 7:52 PM
The Markit Flash Eurozone PMI shows the steepest fall in output prices since global crisis and renewed job losses, in spite of an otherwise stable PMI.
The Eurozone saw a marginal upturn in growth of business activity in October, according to the flash [...]
zerohedge.com / by Tyler Durden / 10/23/2014 06:59 -0400
Perhaps the most interesting question from late yesterday is just how did the Chinese PMI rebound from 50.4 to 50.2, when the bulk of its most important forward-looking components, New Orders, Output, New Export Orders…
… posted a material deterioration? When asked, not even [...]
David Myers Theatre on 9th Street. Washington, DC July 1939
theautomaticearth.com / by Raúl Ilargi Meijer / October 22, 2014
Reuters has had a busy day today reporting on Europe’s banks and the stress tests the European Banking Authority is set to unveil on Sunday. And which put the EU and ECB on a [...]
yanisvaroufakis.eu / By yanisv / Oct 20, 2014
The spectre of Greek contagion seems to be returning to the Eurozone. At least this is the fear that I sense by talking to financial journalists across Europe. In this interview with Jorge Nascimento Rodrigues (for EXPRESSO) I argue that: “The Euro Crisis never went away. What [...]
globaleconomicanalysis.blogspot.com / by Mike “Mish” Shedlock / October 20, 2014
On October 6, I noted German Factory Orders Slump 5.7%, Most Since January 2009.
The previous month was up 4.9%, so I averaged the two months noting “The average result is a decline of 0.4% per month, for the last two months. That process also [...]
yanisvaroufakis.eu / by yanisv / Oct 17, 2014
In this interview, with Deutsche Wirtschafts Nachtrichten (German Business News), I address the question of what happened in recent days in the Greek bond markets, in view of the Greek government’s failed attempt to argue that Greece is about to exit its Bailout. Regular readers may notice [...]
marctomarket.com / by Marc Chandler / October 14, 2014
That the eurozone is experiencing lowflation, which is threatening to morph into deflation, is well appreciated. What is less appreciated that it is not just a function of ECB policy.
The UK and Sweden both reported softer than expected inflation data. And it is not [...]
zerohedge.com / by Tyler Durden / 10/14/2014 06:47 -0400
So far the overnight session has been a mirror image of Monday’s, when futures languished at the lows only to ramp higher as soon as Europe started BTFD. Today, on the other hand, we had a rather amusing surge in the AUDJPY as several central banks [...]
kingworldnews.com / October 13, 2014
On the heels of the beginning of another week of trading in global markets, today one of the brightest minds in the financial world warned King World News that the world is now rolling over into a hard deflation.
By Michael Pento of Pento Portfolio Strategies
October 13 [...]
garynorth.com / By Gary North / October 11, 2014
You read that right. Right.
I think like an economist. The economist always thinks in terms of alternatives. The economist’s mindset was expressed clearly by the late comedian, Henny Youngman. “How’s your wife?” “Compared to what?”
One of the most common complaints against the [...]
wolfstreet.com / by Wolf Richter / October 10, 2014
It didn’t take all that long. In November 2011, Alexander Stubb, then Finnish Minister for European Affairs and Foreign Trade, added his morsels of wisdom to the Eurozone debt crisis that was blooming into splendid fruition.
“It should be the triple-A countries” – at the time [...]
goldmoney.com / By Alasdair Macleod / 10 October 2014
Recent evidence points increasingly towards global economic contraction.
Parts of the Eurozone are in great difficulty, and only last weekend S&P the rating agency warned that Greece will default on its debts “at some point in the next fifteen months”. Japan is collapsing under [...]
goldmoney.com / By Alasdair Macleod / 10 October 2014
This week has seen highly volatile equities (mostly down), bond yields sharply lower, the oil price hard down, and gold side-lined but recovering after a miserable month or two.
On the news front, the S&P rating agency reminded us that Greece is likely to [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / October 07, 2014
Talk is in the air, but it’s not to the liking of eurozone Nannycrats. Please consider Idiosyncratic Risk Looms For Greek Assets, Citi Says.
Citi Research said in a note today that: “Possible deadlock in the early-2015 vote among MPs to choose the next Greek [...]
wolfstreet.com / by Wolf Richter / October 7, 2014
Germany, the largest economy in Europe, the miracle economy that is being held up as example of how an economy should be run, and the all-powerful engine that is supposed to pull the Eurozone out of its deep mire, is sinking into a mire of its [...]
zerohedge.com / by Tyler Durden on 10/07/2014 13:51
Via Deutsche Bank’s George Saravelos,
Euroglut: a new phase of global imbalances
This report argues that both “secular stagnation” and “normalization” are incomplete frameworks for understanding the post-crisis world. Instead, “Euroglut” – the global imbalance created by Europe’s massive current account surplus will be the defining [...]
zerohedge.com / by Tyler Durden / 10/07/2014 06:08 -0400
Yesterday it was German manufacturing orders which cratered 5.7% in August following a freak, 4.9% rebound in July, prompting Goldman to warn that “the underlying dynamic has weakened further at the end of Q3″ …
… And then a few hours ago we finally got [...]
wolfstreet.com / by Wolf Richter / October 3, 2014
There has been a series of debacles on the German IPO market, including Chinese companies that listed there. But Zalando is a precursor of a different kind. It’s the largest German online shoe and fashion retailer. It’s known for its no-holds-barred marketing. It’s one of the [...]