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Global Inferno! Oil Futures Nosedive Below $50

Its a global inferno!  As EU and China PMI tank, it was inevitable the oil prices would tank as well Of course, we have The Fed contributing to t ...


Duy: Fed Stuck In An Uncomfortable Situation

From Professor Tim Duy at Fed Watch: Fed Stuck In An Uncomfortable SituationThe Federal Reserve faces a most uncomfortable confluence of events as ...


1-Unit Housing Starts Plunge 13.1% YoY As Fed Continues Tightening … The Noose

I feel like I am playing the board game Clue … except I already know the Colonel Mustard did it with a rope in the study. That is, we already know ...


Shale Under Pressure As WTI Flash-Crashes Below $50 For 2nd Time Today

Xi's speech did not help (with no growth measures revealed) but oil markets seem extremely fragile this morning having broken below $50 and flash- ...


J&J (Barely) Bounces On Buyback, "Much, Much Lower" Talc Liability

After its collapse on Friday, and extended losses yesterday (wiping out $50 billion in market cap), Johnson & Johnson is bouncing this morning on ...


Variation Of Gains From Trade With International Prices

Figure 1: Intercepts of Production Possibilities Frontiers for England1.0 IntroductionIn this example, gains and losses from trade vary with inter ...


Stocks On Track For Worst December Since 1931

U.S. stocks have not fallen this dramatically during the month of December since the Great Depression of the 1930s.  On Monday, the Dow Jones Indu ...


Wall Street Turns Apocalyptic: "We Just Had The Biggest Ever Rotation Into Bonds"

So much has changed in the past year (at least according to respondents in Bank of America's latest Fund Manager Survey). This time in December 2 ...


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Starts, Permits Bounce But 2018 Is US Housing Market's Most Disappointing Year On Record

It has been an annus horribilis for housing markets in 2018 as affordability collapses on the heels of a hawkish Fed which has sent the US Housing ...


How will the house price boom in the Netherlands respond to an economic slow down?

It has been a while since we have gone Dutch and taken a look at the economic situation in the Netherlands. The first point to note is that it has ...


Do You Believe In Omens?

After finishing my last post earlier tonight on how we may be misdiagnosing the ails of the market, I had this strange episode where I couldn’t br ...


The Impact of a Court-Ordered Disruption of California's Gig Economy

After growing at an average rate of 27,100 employed people per month from January 2015 to September 2017, California's total employment stalled ou ...


Who Exactly Mopped up $1.33 Trillion of New US Government Debt over the Past 12 months?

Debt out the wazoo, but someone is still buying it.


New Video Emerges Of Tesla China Factory: "You Call That Construction? It's A Half-Flooded Dirt Field"

It is Deja Vu for the Tesla China factory It was the year 2016, Tesla CEO Elon Musk confirmed that the automaker secured a location and a local p ...


Roughly Half Of Millennials Have No Money Saved For A Down Payment

Millennials are on the cusp of surpassing baby boomers as the largest generational demographic in the US, yet a startling plurality of them are wo ...


Here 's The Reason Why Oracle "Beat" Earnings In Three Words

After the close, Oracle reported Q2 results for the quarter ended Nov 30 which just barely beat consensus estimates, reporting sales of $9.562BN v ...


"Residents Should Not Panic": Thousands Of Las Vegas Homes Get ZERO Offers For November 

New data published by the Greater Las Vegas Association of Realtors shows 10,000 single-family homes were on the market and by the end of November ...


Rah Rah Economics

Rah Rah Economics Greg Mankiw read Trumponics by Art Laffer and Stephen Moore so we don’t have to: When economists write, they can decide among th ...


US Natural Gas Plunges, Unwinds Spike that Blew Up Hedge Fund

After the blood has been let, the feeding frenzy subsides, which is also brutal. 


How China and America could both lose Cold War 2.0

In a past post (see Pax Americana or America First?), I showed how the combination of the unequal sharing of productivity gains and the inward loo ...


Stocks and Precious Metals Charts - And the Horse You Rode In On - Purposeful Risks

“Corrupt citizens breed corrupt rulers, and it is the mob who finally decides when virtue shall die.” Taylor Caldwell, Dear and Glorious Physicia ...


“On money, debt, trust and central banking”

The central point of my Jacobin piece on the state of economics was meant to be: Whatever you think about mainstream macroeconomic theory, there i ...


Here's A Problem: Almost Nobody Is Short

After a relentless, if entirely centrally-planned and hence artificial, bull market for the past 10 years, one which has yet to see a 20% in 10 ye ...


Containers, Housing index and sales

Analyst Opinion of Container Movements Simply looking at this month versus last month – this was a terrible month. The three month rolling average ...


California Bay Area Home Sales Decline 17% YoY in November, Inventory up 27% YoY

From Pacific Union chief economist Selma Hepp: Bay Area Housing Inventory Again Posted a Solid Increase in November• Overall Bay Area home sales ( ...


This Radical Plan to Fund the ‘Green New Deal’ Just Might Work

With what Naomi Klein calls “galloping momentum,” the “Green New Deal” promoted by newly-elected Rep. Alexandria Ocasio-Cortez (D-NY) appears to b ...


"We Made Mistakes": France Changes Tone On Yellow Vests As Movement Hits Canada

The Macron government has changed its tone after five straight weeks of violent "Yellow Vest" demonstrations across the country.  On Sunday Pri ...


Andurand Down 17% In 2018, Suffers Worst Year Ever

With the oil price chart looking like death, and with WTI about to slide below $50 for the first time since October 2017... ... it will not com ...


Why bloggers are so negative

Rather than getting into a discussion of whether blogs, or academic sociology, or movie reviews, should be more positive or negative, let’s get in ...


Why we bloggers are so negative

Rather than getting into a discussion of whether blogs, or academic sociology, or movie reviews, should be more positive or negative, let’s get in ...


"This Is A Bear Market" - Stocks Slump After Gundlach Unleashes Truth-Bombs On CNBC

A sheepish Scott Wapner dared to ask DoubleLine's Jeffrey Gundlach an open-ended question about the stock market, and we suspect the response he g ...


Destroyer! The Federal Reserve And The Decline Of Home Builder Optimism (Optimism Lowest Since May ’15)

The Fed’s next Open Market Committe (FOMC) meeting is on December 19th and it appears that another rate hike is due. But today the National Assoc ...


Meanwhile Behind The Scenes: Banks Quietly Slash Loans As They Prepare For The Next Recession

Reading through the Fed's latest Senior Loan Officer Opinion Survey (SLOOS), revealed absolutely nothing to be concerned about when it comes to lo ...


Gartman: "We Get The Feeling That A Market Bounce Shall Develop Today"

Unlike a certain JPMorgan quant, Dennis Gartman has been on a roll lately (perhaps with the exception of his latest bust, when last week he said t ...