Archive For: November 2014

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The Underside Of Cheap Oil-----A Thundering Squeeze On Debt, CapEx And Cash In The Global Energy Patch

Plummeting oil prices not only mirror the state of the – real – economy, they will also drag the state of that economy down further. Much further. If only for no other reason than that today’s oil industry swims in debt, not reserves. Investment policies, both within the industry and on the outside where people buy oil company stocks and – junk – bonds, have been based on lies, false presumptions, hubris and oil prices over $100....

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Workers Per Retiree:The Graph That Rebukes The Myth Of Printing Press Prosperity

It’s not just voters who buy into popular myths. Many investors do too. Few have wider appeal than the myth that central banks can create economic growth via the printing press. What central bankers and their supporters seem to forget is that growth comes from living, breathing […]

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Why Citi Bank Chief Economist Willem Buiter's Attack On The Swiss Gold Vote Is Gibberish

I would conclude that when even the best and brightest economists in the world are at a loss to make a reasonable argument to vote no in the upcoming referendum it becomes abundantly obvious that a “Yes” vote is the right vote. And I expect a Yes vote in the Swiss gold referendum does more to nudge humanity back on track than any other single event since the fall of the Berlin Wall.....

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Chart Of The Day: US Public Debt Will Hit $18 Trillion On December 9th

Sometime in the next two to three weeks, the total public debt outstanding for the U.S. government will exceed 18 trillion dollars. If you were to ask us to pin down a precise date, we would say sometime around December 9

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The Iranian Nuclear Deadlock: Another Chance For Peace Squandered

U.S. Secretary of State, Condoleezza Rice pressured Britain, France and Germany to eschew genuine negotiations with Iran and use the threat of economic sanctions to force an end to Iranian enrichment. The Bush administration would later accuse Iran of having a covert nuclear weapons program, based on intelligence documents that I have shown in my book Manufactured Crisis to be fabrications,.......

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Coal Miners Are The New Sub-Prime: The Vultures Are Circling The Slag Heap

Hedge funds are betting that some of the largest U.S. coal companies are heading for the financial slag heap......

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Crony Capitalists Feeding At The Trough: Another Green Energy Subsidy Scalper Bites The Dust

But it’s worth pausing for an autopsy and retrospective on Xunlight, because it’s a great (or terrible, depending on how you look at it) example of how government at all levels — state and federal — and in both parties — Republican and Democrat —wastes taxpayer money by subsidizing politically connected businesses........

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BMW Smacks Down Silicon Valley's Electric Car Gasbag: Elon Musk Was Just Spinning, Again

BMW insiders: Tesla CEO Elon Musk "is using us for PR purposes." Stung by Daimler's and Toyota's exit, he wants to "decorate" himself with the name BMW.

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Junk Bond Carnage, One Company at a Time

Money is drying up. And bondholders grapple with the sordid meaning of "junk."

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Its Official----Beijing Admits $7 Trillion Waste And Theft During "Investment" Spree

Ghost cities" lined with empty apartment blocks, abandoned highways and mothballed steel mills sprawl across China's landscape – the outcome of government stimulus measures and hyperactive construction that have generated $6.8 trillion in wasted investment since 2009, according to a report by government researchers.....

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