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Carmageddon for Ford in the US, China, and Europe

The New Emissions & Fuel-Economy Cheating Scandal is just a Dimple. 


Who Beats Out Sanders Other Than Biden?

A Hill-HarrisX poll released Tuesday found that 25 percent of Democrats said they would back Michelle Obama in the party primary over nine other d ...


Stocks and Precious Metals Charts - End of the Line - The Big Gold Bullion Short Overhanging the Market

"Time is coming when markets search frantically for physical collateral to find that paper far exceeds underlying collateral for several metals an ...


22/2/19: Deutsche Bank's New Old Losses: When a Candy Bites Back

Our good old friends at @DeutscheBankAG have been at it again... this time (h/t to @macromon) raking in $1.6 billion of freshly announced losses f ...


Have We Already Passed World Peak Oil and World Peak Coal?

Most people expect that our signal of an impending reduction in world oil or coal production will be high prices. Looking at historical data (for ...


Jackson MS Leads Nation In Seriously Delinquent Student Loans (US SDLs At $333 Billion [Almost TARP Level])

Delinquent U.S. student loans reached a record $166 billion in the fourth quarter. But since “delinquency rates for student loans are likely to u ...


Universal Basic Income: Preliminary Results from the Finnish Experiment

The big selling points for a universal basic income are simplicity and work incentives. The simplicity arises because with a universal basic incom ...


The Joke Should be the Outlier

“I’m a contrarian.” – Everyone Sportscenter was by far my most watched show growing up as a youngster. I would watch the same episode five times a ...


Disorderly Brexit Increasingly Likely, EU Blinks on Derivatives-Clearing in London

No one can afford even the smallest hiccup in derivatives.


US Treasury Yield Curve Trading In Small Range (All Quiet on The Treasury Front)

The US Treasury yield curve (10Y-2Y) is surprisingly trading in a very small range. And if you believe in technical indicators like the Ichimoku ...


Should Stock Buybacks Be Banned?

The Government Is Here To Help Journalist H.L. Mencken famously observed: “The whole aim of practical politics is to keep the populace alarmed ...


First Strike

Drawing on the successes and failures of the past, we must help young climate strikers to win their existential struggle By George Monbiot, publi ...


The Annual Hollywood Train Wreck

What is wrong with the Oscars? If we were really going to answer that question, we would need a much bigger blog, but if we were to focus on the t ...


Money Supply data suggest it will be a weak start to 2019 for the US economy

We have an opportunity to take a look in detail at the US economy which stands out at the moment at a time of slowing economies elsewhere. Partly ...


Getting Long Rami Malek

Going long 100 contracts of Rami Malek to bring home the Oscar for best actor on Sunday night for his portrayal of Freddie Mercury in Bohemian Rha ...


Again, Healthcare Cost Drivers Pharma, Doctors, and Hospitals

This should come as no surprise as I have written on the topic of Healthcare Costs and Its Drivers before. In particular, the overriding statistic ...


China’s AI News Anchors

Scary real if not a deep fake…  Or just fake. Xinhua's male #AI anchor can now broadcast news in a standing position, with more body language pi ...


QE Forever: The Fed’s Dramatic About-face

“Quantitative easing” was supposed to be an emergency measure. The Federal Reserve “eased” shrinkage in the money supply due to the 2008-09 credit ...


China Introduces Disturbingly Real Female AI News Anchor

Three months after China unveiled its first disturbingly realistic AI male anchor, state-run news agency, Xinhua, unveiled "the world's first fema ...


The US Housing Market Begins to Feel the Pain

Fact is, home prices cannot outrun wages forever.


Stocks and Precious Metals Charts - The Madness of Crowds

“In reading The History of Nations, we find that, like individuals, they have their whims and their peculiarities, their seasons of excitement and ...


Balance Sheet News

The FOMC minutes for the January 29-30 meeting, released yesterday, contain some important information about the Fed's balance sheet, and plans fo ...


MMT — Krugman still does not get it!

Krugman complains that Lerner was too “cavalier” in his discussion of monetary policy since he called for the interest rate to be set at the level ...


What the Fed Actually Said About Ending the QE Unwind

A plan is forming with a slow-motion component, and everyone wants to get rid of MBS


Current Account 2018: A Forebearer Of Bad News?

Below are the figures for Greece's current account during 2018 as compared with the previous year (in BEUR). 2018 2017 Revenue from abroad ...


*exports to China, Philly Fed, US home sales, durable goods orders

Asia’s exports to China plunge as economy stumbles (WSJ) Japan’s exports to China in January sank 17.4% on the year to 958.1 billion yen ($8.65 b ...


Senator Bernie Sanders Should Be Taken Very Seriously as a Presidential Candidate

Senator Bernie Sanders Should Be Taken Very Seriously as a Presidential Candidate By Pam Martens: February 21, 2019 ~ On Tuesday, Senator Bernie S ...


Who Left The Fridge Open? U.S. Existing Home Sales Fall 8.5% YoY In January, Median EHS Price YoY Declines To 2.8% YoY (Lowest Since Feb 2012 )

The housing market is cooling, both in terms of existing home sales YoY and median price YoY. (Bloomberg) — Sales of previously owned U.S. homes f ...


Not Always Sunny: Philly Fed Business Outlook Declines Most Since Trump Took Office (Rum Ham!)

So much for the “Trump Bump.” The latest Philly Fed print was a bit of a surprise. The regional manufacturing Business Index collapsed from 17.0 t ...


China's High Savings Rate

China has a remarkably high savings rate in a typical year--and sometimes its higher than that. In fact, the main reason for China's high trade su ...


Structure vs agency in economics

Will Davies made a typically good point yesterday when he tweeted that the “impoverishment of the ‘sociological imagination’ over decades” has lef ...


Thanks For The Massive Corporate Tax Cut, GOP! CapEx Orders Back To May 2008 Levels


Euro area PMI, Japan pmi, Misc. global headlines

Tariff man, aka Agent Orange, doing a number on global economies… Just went negative: Services moved up some but the trend still looks down: Ja ...


Edges That Won’t Go Away

One of the most frustrating parts about the markets is the fact that edges tend to be ephemeral. Strategies that worked beautifully in the past ca ...


Strong news from the UK Public Finances suggest better news for the economy too

The last year or so has been something of a battle concerning the UK finances between perception and reality. What I mean by this has been that th ...