Nov 282014
 
 November 28, 2014  Posted by at 12:06 pm Finance Tagged with: , , , , , , , , ,  No Responses »
Debt Rattle November 28 2014

• US Equity Markets In ‘Dotcom Style’ Bubble (Telegraph) • China Has ‘Wasted’ $6.8 Trillion In Investment, Warn Beijing Researchers (FT) • Oil Seen in New Era as OPEC Won’t Yield to US Shale (Bloomberg) • Russian Oil Oligarch: ‘$60 And Below Is Possible’ (Reuters) • Russian Oil Giant Battles Debt After $55 Billion Deal (Bloomberg) • US Shale Boom Is Same As Dotcom Bubble, Says Russian Oil Executive (Telegraph) • OPEC Policy Ensures US Shale Crash, Russian Tycoon Says

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Nov 272014
 
 November 27, 2014  Posted by at 6:34 pm Finance Tagged with: , , , , , ,  12 Responses »
The Price Of Oil Exposes The True State Of The Economy

We should be glad the price of oil has fallen the way it has (losing another 6% today as I write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other service the price slump provides. That is, it allows us to see how the economy is really doing, without the multilayered veil of propaganda, spin, fixed data and bailouts and handouts for the banking system. It shows us the huge

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Nov 272014
 
 November 27, 2014  Posted by at 12:02 pm Finance Tagged with: , , , , , , , ,  1 Response »
Debt Rattle November 27 2014

• Oil Price Fall Starts To Weigh On Banks (FT) • Oil Sinks Further As OPEC Meeting Begins (MarketWatch) • World On Brink Of Oil Price War As OPEC Set To Keep Pumping (Telegraph) • Oil Bust of 1986 Reminds US Drillers of Price War Risks (Bloomberg) • Drill On: U.S. Mantra as OPEC Power Wanes in the Face of Shale (Bloomberg) • Oil Slump Reverberates After Nigeria Currency Devaluation (Reuters) • Seadrill Plunges on Dividend Suspension as Oil Rig

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Nov 262014
 
 November 26, 2014  Posted by at 11:11 am Finance Tagged with: , , , , , , , , , , ,  8 Responses »
Debt Rattle November 26 2014

• Banking’s Toxic Culture ‘Will Take A Generation To Clean Up’ (Guardian) • Consumer Confidence in US Unexpectedly Dropped in November (Bloomberg) • Case Shiller Reports “Broad-Based Slowdown For Home Prices” (Zero Hedge) • BEA Revises 3rd Quarter 2014 US GDP Growth Upwards to 3.89% (CMI) • Refinancing Boom Exposing Risks in US Property Bonds (Bloomberg) • Abe Sales Tax Backfiring With More Debt Not Less (Bloomberg) • Japan Is Running Out of Options (Bloomberg) • Eurozone ‘Major Risk To

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Nov 252014
 
 November 25, 2014  Posted by at 9:49 pm Finance Tagged with: , , , , , , , ,  8 Responses »
Stuck In Reverse And Descending Into Trauma

US Q3 GDP was revised up by the BEA to 3.89%, but that’s no longer what financial markets react to. They sit and wait for more QE somewhere on the planet to be doled out. Will Americans, if they see this at all, take those numbers, add them to the sweet drop in prices at the pump and spend what they save on more holiday purchases? I’m not saying I know, but I do see that US consumer confidence is

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Nov 252014
 
 November 25, 2014  Posted by at 10:47 am Finance Tagged with: , , , , , , , , ,  3 Responses »
Debt Rattle November 25 2014

• “We Are Starting To Break Down”: Why So Many Americans Feel Traumatized (Salon) • Buy the All Time High (James Howard Kunstler) • The Dismal Economy: 148 Million Government Beneficiaries (Lance Roberts) • The Mystery Of America’s “Schrodinger” Middle Class (Zero Hedge) • Overvalued, Overbought, Overbullish, Extremely Vulnerable Markets (Hussman) • Canada Moving Toward American-Style Inequality (CTV) • Oil Seen Dropping Another $30 by ICAP on Commodity, Dollar Cycle (Bloomberg) • Market Manipulation Of Oil Prices Backfires On Those

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Nov 242014
 
 November 24, 2014  Posted by at 2:33 pm Finance Tagged with: , , , , , , , ,  7 Responses »
The 2014 Oil Price Crash Explained

This is an article by our good friend Euan Mearns at the University of Aberdeen. It was originally published here . In February 2009 Phil Hart published on The Oil Drum a simple supply demand model that explained then the action in the oil price. In this post I update Phil’s model to July 2014 using monthly oil supply (crude+condensate) and price data from the Energy Information Agency (EIA). This model explains how a drop in demand for oil of

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Nov 242014
 
 November 24, 2014  Posted by at 12:02 pm Finance Tagged with: , , , , , , , , , ,  No Responses »
Debt Rattle November 24 2014

• Global Business Confidence Plunges To Post-Crisis Low (CNBC) • Pope Francis Warns Greed Of Man Will ‘Destroy The World’ (Daily Mail) • Record Numbers Of UK Working Families In Poverty Due To Low-Paid Jobs (Guardian) • New Abnormal Means Relying on Central Banks for Growth (Bloomberg) • Why We Can’t Afford Another Financial Crisis (Guardian) • PBOC Bounce Seen Short Lived as History Defies Bulls (Bloomberg) • China Rate-Cut Likely To Hurt Banks, Curb New Loans To Small Borrowers

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Nov 232014
 
 November 23, 2014  Posted by at 8:42 pm Finance Tagged with: , , , , , , ,  5 Responses »
Where Is China On The Map Exactly?

A lot of people these days vent their opinions on what’s happening with the Chinese economy, and the opinions are so all over the place they could hardly be more different. Which is interesting, to say the least. Apparently it’s still very hard to understand what does happen ‘over there’. And I don’t at all mean to suggest that I would know better than Morgan Stanley’s former Asia go-to-man Stephen Roach, or hedge funder Hugh Hendry, or Bob Davis, who

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Nov 232014
 
 November 23, 2014  Posted by at 11:30 am Finance Tagged with: , , , , , , , , ,  No Responses »
Debt Rattle November 23 2014

• China’s Surprise Rate Cut Shows How Freaked Out The Government Is (Quartz) • The End of China’s Economic Miracle? (WSJ) • Hugh Hendry: “A Bet Against China Is A Bet Against Central Bank Omnipotence” (MW) • Central Banks in New Push to Prime Pump (WSJ) • Forget What Central Bankers Say: Deflation Is The Real Monster (Observer) • “I Am 100% Confident That Central Banks Are Buying S&P Futures” (Zero Hedge) • UK Chancellor Haunted By Deficit And £1.45

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