zealllc.com / Adam Hamilton / August 22, 2014
Gold has slid during this past week on mounting fears of interest-rate hikes. Between the latest FOMC meeting’s minutes and the Fed’s annual Jackson Hole Economic Policy Symposium, American futures speculators’ rising-rate phobias have been whipped into a fever pitch. They worry gold will be crushed [...]
zerohedge.com / by Tyler Durden on 08/22/2014 17:13
Jackson Hole – that magical place where the world’s greatest monetary central planners gather once a year to yarn long into the night about how they are printing money, crushing the middle-class, monetizing debt, and ramping asset prices; all in the name of economic progress and [...]
jessescrossroadscafe.blogspot.com / 22 AUGUST 2014
Janet Yellen made her Fed debut at their Jackson Hole conference today.Her remarks moved the markets back and forth a bit, and in light volumes with littler other geopolitical and economic news the markets did a sideways consolidation.Well, there was some news. Various government figures have started warning about [...]
zerohedge.com / Tyler Durden on 08/22/2014 14:29
With Yellen’s speech a bit of a letdown for the doves – she did not go full-dovish – markets anxiously await Mario Draghi to promise whetever for ever and ever… While financial markets don’t expect bombshells, his speech is an opportunity to underscore that ECB [...]
zerohedge.com / by Tyler Durden on 08/22/2014 12:24
Confused by what Janet Yellen said? As it turns out, so is everyone else, where the prevailing sentiment across the sell-side analysts was that Yellen was not dovish enough. Then again, with expectations bordering on Yellen giving the “BTFATH” green light, there is no way [...]
davidstockmanscontracorner.com / by David Stockman / August 22, 2014
This profit stripping operation is simple. Foreign banks on Wall Street borrow from money market funds at an infinitesimal 3-6 basis points and then shuffle the loot down to 33 Liberty Street where the New York Fed pays them 25 basis points on the same funds. [...]
zerohedge.com / by Tyler Durden / 08/22/2014 10:04
Simply put, as Citi noted, unless Fed head Janet Yellen goes full-dovish, risk assets face tremendous downside potential. As ConvergEx’s Nick Colas notes, Yellen receives a “B” grade from financial professionals, fewer than half (49%) of those surveyed approve of the job the [...]
zerohedge.com / by Tyler Durden / 08/22/2014 09:34
With USDJPY algos, and thus the S&P, reacting as if stung like bees by every fabricated headline emerging out of Ukraine (only to reverse the move promptly after once the market realizes the biggest war in Ukraine continues to be one of disinformation), there [...]
charleshughsmith.blogspot.com / CHARLES HUGH SMITH / THURSDAY, AUGUST 21, 2014
The Fed is being forced to end its bond-buying, cutting off the “free money for financiers” that has sustained a frothy stock market.
While the Federal Reserve presents itself as free to do whatever it pleases whenever it pleases, the reality is [...]
kingworldnews.com / August 21, 2014
Even as the Dow surges back above 17,000, today the top trends forecaster in the world shared a sad and deeply troubling email he received that exposes just how bad the economic collapse really is in the United States. Below is what Gerald Celente, founder of Trends Research and [...]
news.goldseek.com / By Market Anthropology / 21 August 2014
Since finding a low in the first week of August, the S&P 500 hasn’t wasted much time, closing positive in seven sessions out of nine and narrowing the gap from its 27th record close this year – way back on July 24th. With Yellen flying [...]
zerohedge.com / by Tyler Durden on 08/21/2014 15:50
Despite caution from Bob Shiller that stocks are “hovering at worrisome levels,” the FOMC Minutes yesterday (and various Fed speakers and talking heads this morning) have reassured the investing public that stocks are “cheap” and it’s credit and bonds that are rich and bubbly. However, [...]
zerohedge.com / by Tyler Durden on 08/21/2014 13:55
Ahead of Yellen’s Jackson Hole speech tomorrow, the sell-side, hypnotized by 6 years of Fed bubble-inflating generosity, refuses to even consider the possibility that the Fed could possibly pull the punch bowl away, and the virtually unanimous consensus is that despite yesterday’s minutes (or perhaps [...]
gata.org / by cpowell / 2014-08-21
Dear Friend of GATA and Gold:
In commentary headlined “Mystery of Jackson Hole,” The New York Sun today reflects on the wreckage of the United States economy as the annual economic conference of the Federal Reserve Bank of Kansas City convenes at the famous Wyoming [...]
zerohedge.com / by Tyler Durden / 08/21/2014 11:19
Something surprising happened in the early days of August: a person was actually held accountable for his mistake.
As the WSJ reported previously, “a billion-dollar forecasting error in Walgreen Co.’s Medicare-related business has cost the jobs of two top executives and alarmed [...]
A Majority of Americans Do Not Have a Rainy Day Fund That Would Last 3 Months
wallstreetonparade.com / By Pam Martens and Russ Martens / August 21, 2014
Any ideas that household balance sheets in the U.S. have been repaired since Wall Street took a wrecking ball to the nation’s economy in [...]
davidstockmanscontracorner.com / by David Stockman / August 21, 2014
Earlier this week Bloomberg published a devastating chart showing real hourly wage growth for the first 60 months of every cycle going back to 1949. The 11 cycle average gain was 9% and the largest was 19% a half century back.
caseyresearch.com / Chuck Butler / August 21, 2014 8:18am
In This Issue.
* Dollar’s mini-rally stalls. * Norwegian 2nd QTR GDP beats expectations! * Eurozone Flash PMI’s are weaker. * SDR’s in our future?
And Now. Today’s A Pfennig For Your Thoughts.
Fed Meeting Minutes Are Looked At Differently.
Good Day! . And a Tub [...]
zerohedge.com / by Tyler Durden / 08/21/2014 08:59 -0400
The Fed minutes were hawkish – even Goldman Sachs and Jon Hilsenrath admitted it – so the exuberance in stocks (and VIX pressure) must reflect a desparate hope that Janet Yellen will indeed go full dovish tomorrow (or fear the consequences as we noted [...]
charleshughsmith.blogspot.com / CHARLES HUGH SMITH / WEDNESDAY, AUGUST 20, 2014
The Federal Reserve’s communications and policies are a form of crazy-making double bind.
Systems theorist/anthropologist Gregory Bateson developed (with others) the concept of double bind, a psychological and social conflict in which contradictory demands generate a form of schizophrenia:
Unlike the [...]
jessescrossroadscafe.blogspot.com / BY JESSE / 20 AUGUST 2014
Sleepy summer days. Madame Tussaud’s-on-the-Hudson is acting according to form. Nothing happened in the Comex precious metals reports yesterday. Price discovery based on real market demand and the exchange of goods is reserved for the neighborhood luncheonettes. Someone suggested, on an economics forum today, that the Fed [...]
zerohedge.com / by Tyler Durden on 08/20/2014 16:07
The last 2 days have seen the USD index rise at its fastest pace in almost 4 months, closing in on 1-year highs. Led by JPY and EUR weakness, the USD is up over 1% this week (which is set for the best week in 9 [...]
davidstockmanscontracorner.com / by David Stockman / August 20, 2014
Monetary central planning gives rise to economic waste, distortion and deformation because it causes capital to be mis-priced. Nowhere is this more evident than in the massive and destructive level of mergers and acquisitions (M&A) that has become a standard component of bubble [...]
jessescrossroadscafe.blogspot.com / 20 AUGUST 2014
Sleepy summer days.
Madame Tussaud’s-on-the-Hudson is acting according to form. Nothing happened in the Comex precious metals reports yesterday. Price discovery based on real market demand and the exchange of goods is reserved for the neighborhood luncheonettes.Someone suggested, on an economics forum today, that the Fed should raise interest [...]
jessescrossroadscafe.blogspot.com / 20 AUGUST 2014
“When the music stops, in terms of liquidity, things will be complicated.
But as long as the music is playing, you’ve got to get up and dance. We’re still dancing,”
Chuck Prince, CEO Citigroup, 9 July 2007
In this record inequality and atmosphere of serial policy errors by the [...]
zerohedge.com / by Tyler Durden on 08/20/2014 14:49
The USD is soaring after somewhat hawkish Fed Minutes (up 1% this week) – pushing up towards critical resistance at 1-year highs. Treasury yields slammed 3-4bps higher and are holding those losses (30Y up 11bps this week). High yield credit is at the worst levels of [...]
zerohedge.com / by Tyler Durden on 08/20/2014 14:03
These are the minutes from when the Fed toned down deflation fears and raised concerns over labor slack, and expectations going in were for a slightly more hawkish tone from the minutes (and perhaps commentary on financial stability – bubbles – and exit strategies). This [...]
wallstreetonparade.com / By Pam Martens and Russ Martens / August 20, 2014
Trader on the Open Markets Trading Desk at the Federal Reserve Bank of New York
According to the Oxford Dictionary, the word cartel can mean either businesses that seek to restrict competition or a coalition “intended to promote a mutual [...]
zerohedge.com / by Tyler Durden on 08/20/2014 12:20
While on the surface the US economy has been chugging along from GDP-crashing “snow in the winter” to GDP-cratering “warmer|cooler than expected weather in the spring|summer|fall“, with bouts of GDP-boosting inventory accumulation inbetween, in recent months two very disturbing trends about that all important [...]
gold-eagle.com / By Axel Merk / August 20, 2014
Are you prepared for an “exit”? If the Fed pursues an “exit” from ultra low interest rate policy, are you prepared for an exit from the stock market should things turn South? We discuss how investors prepare, noting the most common mistakes investors make along the [...]