Archive For: July 2015

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Fed Is Not Just Behind The Curve, It’s Driving The Bus Over The Cliff

So the Fed didn’t raise rates again. And the timing of the rate increase will be data dependent. Ho hum. There’s just one little problem. The inflation measures the Fed watches really don’t measure inflation. The Fed won’t see what its cronies in the government and economic establishment refuse to measure, which is that we’ve already long since passed…

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Handbags As An Asset Class-------The Money Printers Have Inflated Everything

For those looking for the real reason behind $100,000 handbags that sometimes look rather ordinary and sometimes purposely gaudy, blame the Fed and central banks in general........

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More Signs Of The Top--------Carnage Below The Stock Index Averages

With the major US equity markets within 1-2% of their record highs, Gavekal Capital notes that underneath the headline indices, stock markets are extremely tumultuous. Rather stunningly 21% of MSCI USA stocks are at least 20% off their recent highs, and 68% of Canadian stocks are in bear markets, but the real carnage is taking place in Emerging Markets.

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QE Fails Again------It Has Roiled European Bond Markets, But Stimulated No Real Sector Lending

The simple narrative about QE is drawn from what is believed a simple process. The central bank buys bonds and by doing so it is simply assumed to be an “extra” bid on bond prices; therefore interest rates fall in whatever issue is being targeted by QE. Even in the US, QE has had trouble...

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The Great Reset-------Why A Deflationary Gale Is Blowing From China And The EM

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China's Market Intervention Folly

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Chart Of the Day------Mind The Dow Divergence

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Wall Street Still Didn't Get The Memo-----China's Done, Tops In!

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Trouble In The Bonds Pits: Energy Junk Plunging, M&A Deals Flying

Riskiest junk bonds at the margin blow up, fireworks spread inward.

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Chart Of The Day: NASDAQ 2000 And Shanghai 2015 Resemble Hand-In-Glove

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