Archive For: April 2016

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Smacking Down Greg Ip's Blithering Idiocy On Helicopter Money And Inflation

Greg Ip knows just enough economic conventional wisdom to be a masterful and well respected word soup chef. Today he took on an explanation of why Argentina could “create” inflation via money printing, and the Fed, ECB, and BoJ couldn’t. He said that it was because Argentina’s central bank bought government debt directly, and the…

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Chart of the Day- Thanks Fed For Helping The Average Guy

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ECB Says Bank Loans Grew In March--------Chart Shows Otherwise

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Anything Trumps Hillary

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The "Fracklog Trigger": Why 500,000 Barrels Of Shale Crude Could Hit The Market At Any Moment

Yesterday, when reading through Pioneer's results we stumbled on something unexpected: not only was the company pumping more than its had previously guided, but announced it was waiting for $50/barrel to reactivate five to ten horizontal drilling rigs.

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What Global Growth Rebound? Ports Quiet, Containerships Losing Steam

At a logistics park bordering Shanghai’s port last month, the only goods stored in a three-story warehouse were high-end jeans, T-shirts and jackets imported from the U.K. and Hong Kong, most of which had sat there for nearly two years.

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Mind The Leverage Risk: Corporate Debt Is Soaring, Cash Flow Is Stalling

Corporate America is swimming in cash. There is no great news about this, and no great mystery about where it came from. Seven years of historically low interest rates will prompt companies to borrow.

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Canary On The Oil Derrick----Exxon Mobil Losses AAA Rating For First Time Since 1930

Exxon Mobil has been rate AAA by S&P since 1930 according to Bloomberg. Today that ended as the global crude explorer with sales that dwarf the economies of most nations was cut to AA+ (Outlook stable). Having been put on notice in February (negative watch), citing concern that credit measures would remain weak through 2018.

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How Third-Party Payors Wrecked The Prescription Drug Market

Professor Jack Hoadley of Georgetown University recently gave an excellent presentation discussing prices of prescription drugs. Two slides stand out. First, a slide showing how much prescription spending is controlled by insurers and governments versus patients directly:

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Mind The Trannies----Job Count down 11.3% Y/Y

One of the more confusing market moves in recent weeks has been the tremendous surge in transportation, or as we call them trannies, stocks...

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