Archive For: July 2014

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Inside The Q2 GDP Print: A Floundering Economy Still

Following up with some more detail on yesterday’s GDP euphoria, a closer examination reveals that not much has changed beneath the headline refiguring. Again, I highly doubt the 3.9% (plus some rounding) survives further estimations, but that really doesn’t much matter at this point. Whether it ultimately arrives at 5% or 2% won’t change the [...]

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The Chicago PMI Plunge: Is Inventory Liquidation Lurking Just Ahead?

I normally do everything I can to avoid sentiment surveys, like the Chicago PMI (the Chicago Business Barometer to be specific), because they really are misleading without exact context. However, any large move like the one in July should bring at least some interest since outlier events are often the most informative. What may be [...]

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On Dominoes, WMDs And Putin's "Aggression": Imperial Washington Is Intoxicated By Another Big Lie

After all, what is so sacrosanct about preserving the territorial integrity of the Ukraine? Ever since the middle ages, it has consisted of a set of meandering borders in search of a nation that never existed owing to endemic ethnic, tribal and religious differences. Its modern boundaries are merely the fruit of 20th century wars and the expediencies of a totalitarian state during the decades of its rise, rule and disintegration.

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"Chickens" Coming Home To Roost: Obama's Foolish Sanctions Already Triggering A Pointless Trade War

"It's a troubling continuation/expansion of trade as a geopolitical tool," warns one Washington-based consulting firm as Russia prepares to unleash retaliatory actions to US and European sanctions.

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Debt Encumbered Nation: 77 Million Americans Have Overdue Debt In Collections

America's middle class is being disintegrated and US adults are surviving only thanks to insurmountable debtloads. But not even we had an appreciation of how serious the problem truly was. We now know, and it is a shocker: according to new research by the Urban Institute, about 77 million Americans have a debt in collections.....

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Fear And Loathing At The PBOC: China's Fragile Financial System Rules Policy

And the recent moves in allowing these new financings to take place might seem to add weight to that sentiment, but I think it rather clearly shows, in the right contextual framing, that the PBOC is not in control of “markets” but deathly afraid of them....

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7 Yrs. Of Massive Monetary "Stimulus" Since Initial August/07 Rate Cut: Anemic 0.9% Real GDP Growth Rate Since

.... this was the first instigation of “stimulus”.... From Q4 2007 forward, GDP growth has averaged just 0.90% SAAR. Foreseen or not, the Great Recession and its recovery has made a mockery of “stimulus”,

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Here's What Wall Street Bulls Were Saying In December 2007: Read And Take Cover!

Against this troubling backdrop, it's no wonder investors are worried that the bull market might end in 2008. But Wall Street's top equity strategists are quick to dismiss such fears.....

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America's Nanny State Puts On Brass Knuckles: Tales Of Outrageous Domestic Police Abuse

What these incidents reflect is a society that has become so bureaucratic, so legalistic, so politically correct, so militaristic, so locked down, so self righteous, and so willing to march in lockstep with the corporate-minded police state that any deviations from the norm—especially those that offend the sensibilities of the “government-knows-best” nanny state or challenge the powers that be—become grist for prosecution, persecution and endless tribulations for the poor souls who are caught in

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Central Bank Distortions At Work: Cheap Debt And The Fraking Binge

The financial hype around fracking, the limitless, nearly free liquidity provided by the Fed since late 2008, and investors so desperate for yield that they’re willing to incur just about any risks in their vain battle to come out ahead have had Wall Street frothing at the mouth.... the boundless stream of money has been searching for a place to go, and it went to an economic activity – fracking – where money goes to die. What’s left is debt, and gas wells, that will never produce enough to pay off the debt that was incurred to drill them.

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