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Market Report: Economies stalling / By Alasdair Macleod / 17 April 2014

It wasn’t meant to be like this: six years of global money-printing should have guaranteed economic recovery. Until very recently, there was hope that finally the medicine was having some effect; but in the last few weeks investors have become noticeably more cautious. Is it Ukraine, [...]

Daily Nugget – was all that gold for China? / by Jan Skoyles / Apr 15 2014

Yesterday the gold price hit a three-week high on the back of rising tensions in Ukraine and some technical buying. Yes, it seems the situation in Ukraine is back on trend and is prompting some safe-haven demand.

As we saw previously this will be [...]

Greece’s Grand Decoupling, the Nuclear Option and an Alternative Strategy: A comment on Münchau / By Yanis Varoufakis / April 14, 2014

In his latest Financial Times column Wolfgang Münchau concurs with much of what I have written here (on the Greek social economy’s deep coma) and here (on the reasons why investors are piling in) but goes on to suggest that Greece should seriously consider exiting the [...]

Some Very Strange Stuff. Why? / By Bill Holter / April 11th, 2014

Some very strange events have been quietly happening recently. One set that sort of snuck up on me because I hadn’t looked recently is that Italy’s 10 yr. bond rates have now sunk to all-time lows while Spain is now paying less on 5 yr. notes [...]

IMF Upbeat on US and Global Growth, Steen Jakobsen Says “Surprise Index” Differs / By Mike “Mish” Shedlock / April 08, 2014 11:36 AM

In a 204 page IMF Report on World Economic Economic Outlook the IMF predicts 3.0 percent US growth in 2014, 1.1 percent for the eurozone, and 5.7 percent growth in emerging markets.

I did not slog through the report, rather I stopped reading [...]

Comedy Of Forecast Errors: Here Are The IMF’s Latest Projections Of Economic Growth / by Tyler Durden / 04/08/2014 10:03 -0400

Another quarter, and another attempt at predicting the future by the people whose predictions have become the biggest butt of all economics jokes, even more so than Paul Krugman columns.

We are talking, of course, about the IMF’s World Economic Outlook update.

It is here [...]

Watch: Global Economic Meltdown / April 5th, 2014

We are nearer economic collapse than most people think, or in the case of governments, admits to. The Eurozone is done but still they cling on making noises about recovery and a return to financial normality. In the US, the lies of the federal reserve and the ever rising debt [...]

Chink In The Market’s Armor? / by Lance Roberts / Thursday, March 27, 2014

According to Wikipedia, the idiom “chink in one’s armor“ refers to an area of vulnerability. It has traditionally been used to refer to a weak spot in a figurative suit of armor. Since the beginning of 2013, the market has been seen as invulnerable. Despite [...]

Think Big, Think Bold / By Yanis Varoufakis, / March 25, 2014

Why the Left in Britain and in the Eurozone must aim for a radical Pan-European Green New Deal

European capitalism was always going to become unhinged once the post-war global system, known as Bretton Woods, had run out of steam. And so it did.

After [...]

Futures Rise As More Weak Chinese Data Prompts More Stimulus Hopes / by Tyler Durden / 03/24/2014 07:17 -0400

If there was one thing that the market was demanding after last night’s disappointing March HSBC manufacturing PMI, which has now fallen so low, local market participants are convinced a stimulus is imminent (despite China’s own warnings not to expect this), and sent both the SHCOMP [...]

Russia Threatens Estonia – 17th Member of Eurozone / Martin Armstrong / March 19, 2014

Russia is in the same position as Hitler was when he began to invade countries claiming he was defending the German populations there. Nobody did anything and that gave Hitler a green light. The same pattern in emerging with Russia. There is really nobody there able to [...]

Daily Pfennig: Dollar begins the day higher / By Chuck Butler / March 18, 2014 10:01am

In This Issue.

*Manufacturing on the rise… *Markets were prepared for the worst… *Eurozone inflation falls… *Aussie rate cut off the table…

And, Now, Today’s Pfennig For Your Thoughts!

Dollar begins the day higher…

Good day.and welcome to Tuesday morning. I was somewhat surprised to [...]

An invaluable lesson for U.S. Citizens from the bank confiscation in Cyprus / Simon Black / March 17, 2014

It was almost exactly one year ago to the day that an entire nation was frozen out of its savings… overnight.

Cypriots went to bed on Friday thinking everything was fine. By the next morning, they had no way to pay bills or buy [...]

These Six Euroarea Countries Are In Outright Deflation As Eurozone Inflation Slides To Four Year Lows / by Tyler Durden / 03/17/2014 11:47 -0400

While we realize that the world has long since stopped caring about trivial things like macro events or newsflow, it probably should be noted that while everyone was either sleeping or awaiting to see what the US response to the Crimean referendum would be, it [...]

Daily Pfennig: China doubles trading band / By Chuck Butler / March 17, 2014 8:47am

In This Issue.

*PPI and confidence is lower… *This week in data… *Eurozone employment rises… *British trade deficit…

And, Now, Today’s Pfennig For Your Thoughts!

China doubles trading band…

Top o’ the morning to my best Irish accent. Happy St. Patty’s Day and welcome [...]

Harvard Professor Frankel Proposes “ECB Should Buy US Treasuries” to Fix Eurozone Problems / Mike “Mish” Shedlock / Friday, March 14, 2014 12:48 PM

Jeffrey Frankel, a Project Syndicate columnist and professor at Harvard University’s Kennedy School of Government says the ECB Should Buy US Treasuries.

The European Central Bank needs to ease monetary policy further. Eurozone-wide inflation, at 0.8%, is below the [...]

Elevating markets: A signal of reviving bank lending? / By Alasdair Macleod / 07 March 2014

Earlier this week Bill Gross who runs Pimco’s bond fund made a conditional case for investing in high-yielding bonds, even though on first cut the yield benefit appears insufficient to justify the extra risk. Put bluntly, he suggests that investing in bonds issued by insolvent Eurozone [...]

The Dollar’s Long Term Decline / By: Axel G. Merk / 6 March 2014

The cleanest of the dirty shirts doesn’t necessarily preserve your purchasing power. Sure, the U.S. dollar has beaten the Russian Ruble and some others of late, but when it comes to real competition, the U.S. dollar has taken a back seat. The U.S. dollar’s [...]

Futures Unchanged Overnight, Remain At Nosebleed Levels / by Tyler Durden / 03/05/2014 07:09 -0500

With the world still on edge over developments in the Ukraine, overnight newsflow was far less dramatic than yesterday, with no “bombshell” uttered at today’s Putin press conferences in which he said nothing new and simply reiterated the party line and yet the market saw [...]

Daily Pfennig: Central Bank Meetings & A Jobs Jamboree Week! / By Chuck Butler / March 3, 2014 9:39am

In This Issue.

* Safe Havens come back into play. * Markets back to putting pressure on ECB. * Gold Soars! * Where are the price manipulators now?

Central Bank Meetings & A Jobs Jamboree Week!

Good Day! . And a Marvelous Monday to you! [...]

Stiglitz: Leaving the Euro Painful but Staying in More Painful; Eurozone Breakup / Mike “Mish” Shedlock / Friday, February 28, 2014 2:57 PM

Nobel prize winning economist Joseph E. Stiglitz has come to the right conclusion Leaving the Euro Painful but Staying in More Painful.

Partial Transcript

Question: I want to probe you a bit on that small mistake of the euro. UYou seem to [...]

Gold in 2013: The Foundation For 2014 / By Alasdair Macleod / 28 February 2014

The chronological events of 2013 set the background for gold in 2014. It was a momentous year which should ensure a rise in the gold price in 2014.

Before 2013 demand for physical ETFs was high. At the same time Asian demand, from China, India, Turkey [...]

Daily Pfennig: Did I Hear Yellen Greasing The Tracks? / By Chuck Butler / February 28, 2014 8:32am

Currencies are mixed but euro soars! Swedish GDP beats expectations. N.Z. Business Confidence moves higher! Gold ETF sees first inflow month since 12/2012! In This Issue.

* Currencies are mixed but euro soars! * Swedish GDP beats expectations. * N.Z. Business Confidence moves higher! * [...]

Eurozone in Deflation; Monetarist Mouthpieces Will Scream / Mike “Mish” Shedlock / Friday, February 28, 2014 1:24 AM

Forget all the talk about CPI or as they call it in Europe HIPC (harmonized index of consumer prices) floating just under 1%.

The true measure of inflation is credit expansion. And for the second month, credit contracted in the Eurozone.

Reuters [...]

Daily Pfennig: Markets Think The Eurozone Needs More Stimulus / By Chuck Butler / February 27, 2014

Currencies & metals get taken to the woodshed. Euro leads currencies back to the porch. A$ gets whacked on very weak CAPEX report. Frank Trotter adds a new index for us to follow! In This Issue.* Currencies & metals get taken to the woodshed. * Euro [...]

Futures Sell Off As Ukraine Situation Re-Escalates / by Tyler Durden / 02/27/2014 07:21 -0500

Three unlucky attempts in a row to retake the S&P 500 all time high may have been all we get, at least for now, because the fourth one is shaping up to be rather problematic following events out of the Crimean in the past three [...]

Germany at Heart of Europe’s Political Predicament; Squaring the Circle; When is the Breaking Point? / Mike “Mish” Shedlock / Monday, February 24, 2014 2:20 PM

Germany is at the heart of Europe’s political predicament. Although the status quo cannot and will not work, there is no incentive to change.

Germany’s Constitutional Court has strengthened the Eurosceptics and eliminates further moves by Germany towards debt mutualization.

Some think [...]

This Will Stun The World & Bring Chaos To Global Markets / February 24, 2014

On the heels of another wild trading week, today a 42-year market veteran spoke with King World News about what he believes is going to stun the world and bring total chaos to global markets. Below is the powerful interview with Egon von Greyerz, who is founder of Matterhorn [...]

Daily Pfennig: Happy Valentine’s Day! / By Chuck Butler / February 14, 2014 8:07am

In This Issue.

* Retail Sales disappoint! * Currencies & metals push higher. * Eurozone GDP inches higher. * China’s inflation continues to fall.

And, Now, Today’s Pfennig For Your Thoughts!

Happy Valentine’s Day!.

Good Day! And a Happy Friday to one and all! On [...]

Deutsche Bank Explains How, And Why, Germany Opened The OMT Pandora’s Box / by Tyler Durden / 02/12/2014 09:49 -0500

In a surprising, and to the ECB very disappointing, decision, we reported last week that the German Constitutional Court (GCC) stunned the world when it announced that the “ECB’s Outright Monetary Transactions program likely exceeded the central bank’s powers.” In other words, finally someone dared to [...]