davidstockmanscontracorner.com / by David Stockman • March 27, 2015
The most important number in today’s GDP revisions for Q4 was $16.20 trillion. That’s the annualized constant dollar (2009 $) value of final sales during the quarter and, naturally, it was not mentioned in any of the media reports. But its important because the final […]
wolfstreet.com / by Wolf Richter / March 27, 2015
Companies are selling bonds like madmen. This year through Tuesday, investment-grade and junk-rated companies have sold $438 billion in new bonds, up 14% from the prior record for this time of the year, set in 2013, according to Dealogic. This quarter is already in second place, […]
zerohedge.com / by Tyler Durden / 03/27/2015 08:41 -0400
So much for the “self-sustaining”, “escape-velocity” recovery. Again.
After rising at an annualized pace of 4.6% and 5.0% in Q2 and Q3, the final Q4 GDP estimate (a number which will still be revised at least 3-4 times in the coming years), slid more than half […]
wolfstreet.com / by Wolf Richter / March 26, 2015
The US housing market has become a special creature. The government subsidizes it in a myriad ways, and more than ever. The Fed has repressed interest rates to ludicrous levels. This has given Wall Street a great opportunity to borrow hundreds of billions of dollars […]
theburningplatform.com / By Jim Quinn / 25th March 2015
It’s funny how the truth sometimes leaks out from the government. I’m guessing that Mr. Ted Berg will not be working for the Office of Financial Research much longer. This new agency was created by the Dodd Frank Law and is supposed to protect consumers […]
Peter Schiff, Published on Mar 25, 2015
investmentwatchblog.com / March 25th, 2015
Stocks are overpriced, overleveraged, headed for trouble
Office of Financial Research: high valuations and high debt levels pose risks
NEW YORK (MarketWatch) — Wall Street can’t say it hasn’t been warned.
The Office of Financial Research, the agency tasked with promoting financial stability and keeping an eye […]
shtfplan.com / by Mac Slavo / March 25th, 2015
The announcement that California is rapidly running out of water has put new pressure on our most precious resource that could, in turn, force increased prices and shut down organic food production. Ultimately, it could even threaten the food supply.
The recent warnings from NASA hydrologist […]
davidstockmanscontracorner.com / by David Stockman • March 24, 2015
Yesterday we demonstrated that stock market valuations are not merely “on the high side” as Janet Yellen averred last week. Instead, they are positively in the nose-bleed section of history.
You don’t get the Russell 2000 trading at 90X honest-to-goodness GAAP earnings or 125 biotechs […]
New House Sales
davidstockmanscontracorner.com / by Lee Adler • March 24, 2015
Do you know how cold it was up north this year?
How cold was it?
It was so cold up north this year that old people like me bought houses in Florida.
The headlines said that new home sales boomed.
U.S. New […]
europac.com / by Peter Schiff / March 24, 2015
Janet Yellen channels Billy Flynn? Last week the Fed Chairwoman treated us to a master class of rhetorical misdirection which produced some memorable examples of doublespeak, including the soon to be classic “Just because we removed the word ‘patient’ does not mean we’re going to be […]
David Bird, Wall Street Journal Reporter, Specialized in the Oil Markets
wallstreetonparade.com / By Pam Martens and Russ Martens / March 23, 2015
Wall Street Journal oil reporter, David Bird, set out from his New Jersey home for a brief walk on January 11, 2014 and disappeared without a trace. Last Wednesday, 14 months […]
rickackerman.com / By Rick Ackerman / March 23, 2015
Rick’s Picks treats all securities markets like a carnival midway because both were designed to fleece rubes. Entertaining proof of this came in the form of the steep dive Apple shares took in the final minutes of Friday’s session. Money was lost, and we’re not talking […]
wolfstreet.com / by Wolf Richter / March 23, 2015
The fracking boom has been cash-flow negative for oil and gas drillers from the very beginning. The steep decline rates of fracked wells force producers to drill more wells just to keep production and revenues flat, even at high oil prices. They fund this drilling […]
acting-man.com / Bill Bonner / March 23, 2015
“Oh”, or Aiming for a Career on Wall Street
Fátima, our new 10-year-old English-language student, is a stranger to modern economics… as well as to vernacular English.
“What do you think of central bank policies?” we asked.
“What’s a central bank?”
“It’s the bank that provides […]
libertyblitzkrieg.com / Michael Krieger / Mar 19, 2015
It’s always nice to be reminded of how far we’ve come since the dark days of 2008/09 ,when American plebs involuntarily bailed out the oligarchy generally, and Wall Street specifically, to the tune of trillions. Sure, all the gains went to the 0.001%, but the wounds have […]
Initial Claims and Annual Rate of Change
wallstreetexaminer.com / by Lee Adler • March 19, 2015
Initial jobless claims have reached an all time record low level for this time in March in a continuing string of record lows has now persisted since September 2013, with the exception of a few weeks here and […]
davidstockmanscontracorner.com / by David Stockman • March 18, 2015
Janet’s Yellen’s pettifogging today about her patient lack of impatience was downright pathetic. Her verbal hair-splitting is starting to make medieval ritual incantations sound coherent by comparison.
But unlike the financial media’s dopey dithering about “dot plots”, Yellen at least has something to […]
zerohedge.com / by Tyler Durden / 03/18/2015 07:57 -0400
A decade ago the Inland Empire was known for having more real estate agents than any other profession, because “making money in real estate was so easy, anyone could do it.” Now it’s the rise of the “hedge fund managers.”
Turns out E-trade knew precisely who […]
investmentresearchdynamics.com / by Dave Kranzler / March 17, 2015
Will the price of lumber be the tell-tale that they can’t hide? Or do you want to believe the “it was the bad weather in New York, man” narrative? Housing starts ripped lower in February, down 17% from January. They were 14.4% lower than consensus estimate. […]