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Stocks and Precious Metals Charts - Janet and Her FOMC Financial Asset Bubble Makers

“Let us not, in the pride of our superior knowledge, turn with contempt from the follies of our predecessors. The study of the errors into which g ...

Bloomberg Pronounces The Early Death Of The Traditional Long-Short Hedge Fund Model

Bloomberg has apparently just taken it upon itself to pronounce the early, unceremonious demise of the traditional Long/Short Hedge Fund model aft ...

Do you believe in Santa Claus?

Mid-week market update: You can tell a lot about market psychology by the way it reacts to events. News overnight of the victory by Democrat Doug ...

What Causes Asset Bubbles?

As we showed yesterday, the price of bitcoin has finally surpassed "Tulips" in the global bubble race. Overnight the former Bridgewater analysts ...

What, “Replacement Demand” from Hurricane Harvey Overhyped?

Houston-area auto sales rise, but not nearly enough. Carmageddon returns to US.

Empirical economics and statistical power

How credible is empirical economics? Is empirical economics adequately powered? Many suspect that statistical power is routinely low in empirical ...

Reorg Covenants is Hiring! Looking for Fantastic Legal Analysts to Join the Team

As some of you know, Reorg launched Reorg Covenants earlier this year. We cover companies across the credit spectrum ranging from crossover to dis ...

Theresa May Humiliated As Tory Rebellion Leads To Key Brexit Vote Loss

Prime Minister Theresa May suffered a humiliating defeat for her key Brexit law on Wednesday after pro-European members of her own party openly d ...

Economic history — a victim of economics imperialism

Economic history was one of the first fields to succumb at least partially to so-called economics imperialism, the phenomenon through which the me ...

Witchy Woman: Yellen’s Last FOMC Meeting (Fed Funds Rate Rises To 1.5% As Balance Sheet Begins Slow Unwind)

Yes, this was Federal Reserve Chair Janet Yellen’s last Open Market Committee (FOMC)  meeting. And the FOMC raised,  as widely expected, the Targe ...

Gold Spikes As Dollar, Bond Yields Tumble Despite Hawkish-Hiking Fed

Stocks shrugged but bonds and the dollar did not... as gold spiked The dollar is reversing recent gains quickly...   The long-end is legging low ...

13/12/17: Why cryptos might not prevail? Because of their supporters...

Why cryptos might not prevail? Because of this:Or, put differently, because the entire hype around cryptocurrencies, and increasing also blockchai ...

Crypto Is Suddenly Crashing - Bitcoin Back Below $16,000

While Ethereum remains solidly higher on the day, the entire crypto space just took a notable leg lower. The day's slide started around 9amET, wh ...

Victoriatus Hoard Available now for XMas

Available at the WEC We have another hoard available of the early Roman coinage from the Second Punic War. These are the Greek denominations form ...

Another Peak Alert: The Blank Check "SPACs" Boom Has Just Surpassed 2007

In 2017, stock issuance by SPACs has made a new post-crisis high, surpassing the last peak in 2007 which saw the equity market peak in October of ...

Overstock.com CEO Exploring Sale To Fund Blockchain-Backed Global Property Venture

It’s fairly easy to categorize Patrick Byrne, the founder of Overstock.com, as a visionary, although he is usually described in less glowing terms ...

Betting On A Greek Recovery?

Having just finished our regular 3-month autumn stay in Greece, it's a good time to reflect on the impressions I could gather and what may be in s ...

America's Wage Hope Hammered - Real Earnings Suffer Longest Slump Since 2009

For the first time since November 2009, real average hourly earnings tumbled for the 4th month in a row. Despite all the hype, all the hope, and ...

Caterpillar Unit Pleads Guilty to Dumping Parts in Ocean After Performing Improper Railcar Repairs

A unit of Caterpillar that repaired railcars at a Los Angeles facility pled guilty last week to a federal environmental offense of dumping parts i ...

Small business optimism survey, Private sector credit

Expectations all the more trumped up with the new tax bill, but the details show actual conditions aren’t doing so well: Highlights Optimism amo ...

Roy Moore’s Loss in Alabama: A Victory for the Young Girls of America

Roy Moore’s Loss in Alabama: A Victory for the Young Girls of America By Pam Martens and Russ Martens: December 13, 2017 As mainstream media sees ...

WTI/RBOB Steady Despite Huge Gasoline Build, New Crude Production Record

Despite last night's surprisingly large API-reported crude draw, WTI/RBOB prices were sliding in early trading but as the DOE data printed prices ...

Minsky’s financial instability hypothesis and the Fed’s reaction function

As the Federal Reserve meets today to decide how to communicate its messaging on future rate hikes and balance sheet reduction, financial stabilit ...

Bad Case of Unaffordable Housing: Shelter CPI Rises >2x Core Inflation (“Inflation” Cools Ahead of FOMC Meeting)

The Fed’s Open Market Committee (FOMC) meeting is today.  And according to the SF Fed’s calibration of the Taylor Rule, the Fed Funds Target rate ...

Katrice Bridges Copeland on the Yates Memo and Corporate Crime

In September 2015, the Justice Department issued its now famous Yates memo. Katrice Bridges CopelandProfessor of LawPenn State Law School The idea ...

Violation Tracker Adds More Than 1,000 U.S. Attorney Case Records With More than $18 Billion in Fines and Settlements

Violation Tracker, the country’s first public database of corporate crime and misconduct, is bigger and better. The new additions include more th ...

Italian Bonds, Stocks Tumble On March Election Report

Two days after Prime Minister Paolo Gentiloni's one-year anniversary of taking the country's top job, Italy's political parties have reached an ag ...

Gold Pops, Bond Yields Drop, & Dollar Flops After Weaker-Than-Expected CPI

Hours ahead of today's "historic" final Yellen FOMC rate hike, CPI disappointed and traders are bidding bonds and bullion while dumping the dollar ...

On technological regress

The FT reports that thousands of cash point machines might close. One of the very few worthwhile financial innovations of my lifetime might theref ...

Core Consumer Price Growth Comes In Cold - Apparel Prices Plunge Most Since 1998

Following producer prices' surge in November, consumer prices rose 2.2% YoY (as expected). October producer price pushed to its highest since Dec ...

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