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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Nov 222014
 
 November 22, 2014  Posted by at 9:31 pm Finance Tagged with: , , , , , , , ,  6 Responses »
Who's Ready For $30 Oil?

How low can and will oil prices go, and what will the effects of those prices be? I bet you’ll have a hard time finding even just two people who have the same opinion on that. Not that it’s merely a matter of opinion, mind you, there are a great number of real life factors that come into play. It’s not an easy game. OPEC gets together next week, and it’s a cartel divided. Many if not most of its

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Nov 222014
 
 November 22, 2014  Posted by at 12:58 pm Finance Tagged with: , , , , , , , , , ,  1 Response »
Debt Rattle November 22 2014

• Cheap Oil May Be A Sign Of Bigger Problems (MarketWatch) • Drilling Slowdown on Sub-$80 Oil Creeps Into Biggest US Fields (Bloomberg) • Russia to Cooperate With Saudis on Oil, Avoiding Output Cuts (Bloomberg) • Sell, Sell, Sell .. The Central Bank Madmen Are Raging (David Stockman) • What Record Stock Buybacks Say About Economic Growth (Zero Hedge) • Is China Building a Mortgage Bomb? (Bloomberg) • ‘China’s Economy Is Slowing Faster Than You Think’ (CNBC) • China Cut

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Nov 212014
 
 November 21, 2014  Posted by at 9:22 pm Finance Tagged with: , , , , , , ,  5 Responses »
Central Bankers, Fear and Other Bad Counselors

The original idea behind a central bank is that medium and longer term monetary policy should not be allowed to be held hostage by a short-term prevailing political wind, that an incumbent politician and his/her party should not be permitted and/or enabled to manipulate a nation’s currency for political gain. A central bank was (and still is officially) supposed to be independent of politics, to be a buffer between a society’s long term interests and a politician’s short-term ones. In

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Nov 212014
 
 November 21, 2014  Posted by at 12:47 pm Finance Tagged with: , , , , , , , , , ,  1 Response »
Debt Rattle November 21 2014

• Americans, With Record $3.2 Trillion Consumer Debt, Borrow More (Guardian) • How Wall Street Banks Traded Lending For Oil, Gas And Nukes (MarketWatch) • Citigroup Ejected From ECB FX Group for Rigging (Bloomberg) • China ‘Triple Bubble’ Points To Long Slide For Commodities (MarketWatch) • ECB Dips Toe Into Dead Sea Of Rebundled Debt (Reuters) • ECB’s Draghi: ‘Strong Recovery Unlikely’ (CNBC) • Draghi Says ECB Must Raise Inflation as Fast as Possible (Bloomberg) • Greece To Submit Contentious

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Nov 202014
 
 November 20, 2014  Posted by at 10:10 pm Finance Tagged with: , , , , , , ,  9 Responses »
Hugh Hendry And The Deflationary Zeitgeist

It’s funny how things roll at times. When I wrote yesterday’s Making Money While The World Burns, and quoted Hugh Hendry, one of my heroes – well, close, he’s not Ali, but I love the man for his brain -, I hesitated, but thought his words were a great way to start a discussion on what people do when faced with certain conundrums. I certainly never meant to attack Hugh, though words can always be construed to mean things they

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Nov 202014
 
 November 20, 2014  Posted by at 12:26 pm Finance Tagged with: , , , , , , , , , , ,  13 Responses »
Debt Rattle November 20 2014

• Growth Isn’t God in Indonesia (Bloomberg) • Federal Reserve In Easy Decision To End Stimulus (BBC) • Fed Debate Shifts to Tightening Pace After First Rate Increase (Bloomberg) • The Only Thing More Bullish Than Inflation Is …. Deflation (Zero Hedge) • Cheap-Oil Era Tilts Geopolitical Power to US (Bloomberg) • Oil Industry Risks Trillions Of ‘Stranded Assets’ On US-China Climate Deal (AEP) • Iron Ore’s Massive Expansion Era Is Finished: BHP Billiton (Bloomberg) • China’s Factory Activity Stalls

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Nov 192014
 
 November 19, 2014  Posted by at 11:07 pm Finance Tagged with: , , , , ,  18 Responses »
Making Money While The World Burns

I was reading this letter to his fund investors by Hugh Hendry, a very intelligent and probably slightly autistic fund manager I’ve liked a lot forever and a day and have written about quite a bit in the past, and it got me thinking about how and why I see the world different from the way he does, and wondering how you see that difference. Hugh was for years known as a true bear, and then he turned around, changed

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Nov 192014
 
 November 19, 2014  Posted by at 12:57 pm Finance Tagged with: , , , , , , , , ,  No Responses »
Debt Rattle November 19 2014

• Japan’s Last Stand (Michael Pento) • Why Japan’s Money Printing Madness Matters (David Stockman) • New Repair Manual Needed For Japan’s Broken Economy (CNBC) • Kuroda Wins Wider Majority, Warns Inflation Could Dip Below 1% (Bloomberg) • Yellen Inherits Greenspan’s Conundrum as Long Rates Sink (Bloomberg) • Mission Accomplished: Stocks & Homeless Kids Hit All-Time Highs (Simon Black) • China’s Central Bank Makes The Fed Look Like A Bunch Of Amateurs (WolfStreet) • US Equity-Credit Divergence: A Warning (RCube)

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Nov 182014
 
 November 18, 2014  Posted by at 1:09 pm Finance Tagged with: , , , , , , , , , , ,  1 Response »
Debt Rattle November 18 2014

• Japan PM Abe Calls Snap Election, Delays Sales Tax Hike (CNBC) • Japan Prepares Stimulus to Strengthen 2015 Growth After Recession Hit (Bloomberg) • Japan’s ‘Abenomics’ Can Survive Quadruple-Dip Recession (AEP) • ‘Godfather’ Of Abenomics Admits It’s A Ponzi Game, Taxpayers May Revolt (ZH) • ECB’s Draghi: Buying Sovereign Bonds Is An Option (CNBC) • Draghi Says ECB Measures May Entail Buying Government Bonds (Bloomberg) • Draghi Seen Bypassing QE Qualms to Hit Balance-Sheet Goal (Bloomberg) • Industrial Output

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