Jul 16

16.07.2016

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Jul 16

18.06.2016

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , , , , , , , ,

Jul 16

– THE FAKE FACTORY THAT PUMPED OUT REAL MONEY:

The biodiesel factory, a three-story steel skeleton crammed with pipes and valves, squatted on a concrete slab between a railroad track and a field of storage tanks towering over the Houston Ship Channel. Jeffrey Kimes, an engineer for the Environmental Protection Agency, arrived there at 9 a.m. on a muggy Wednesday in August 2011.

He’d come to visit Green Diesel, a company that appeared to be an important contributor to the EPA’s fledgling renewable fuels program, part of an effort to clean the air and lessen U.S. dependence on foreign fuel. In less than three years, Green Diesel had reported producing 50 million gallons of biodiesel. Yet Kimes didn’t know the company. He asked other producers, and they weren’t familiar with Green Diesel either. He thought he ought to see this business for himself.

Kimes, who works out of Denver, was greeted at the Green Diesel facility by a man who said he was the plant manager. He was the only employee there, which was odd. “For a big plant like that, you’re going to need a handful of people at least to run it, maintain it, and monitor the process,” says Kimes, a 21-year EPA veteran. The two toured the grounds, climbing metal stairways and examining the equipment. The place was weirdly still and quiet. Some pipes weren’t connected to anything. Two-story-high biodiesel mixing canisters sat rusting, the fittings on their tops covered in garbage bags secured with duct tape. Kimes started asking questions. “They showed me a log, and from that you could see they hadn’t been producing fuel for a long period of time,” he says.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Jul 15

CASE-SHILLER-APRIL-BUBBLE-CHARTS

Housing Bubble 2.0 – Are You Ready For This?:

The mind-numbing Case-Shiller regional charts below are presented without too much comment. As MHanson.com’s Mark Hanson adds,the visual says it all.

Bottom line:

Q:  If 2006/07 was the peak of the largest housing bubble in history with affordability never better vis a’ vis exotic loans; easy availability of credit; unemployment in the 4%’s; the total workforce at record highs; and growing wages, then what do you call “now” with house prices at or above 2006 levels; worse affordability; tighter credit; higher unemployment; a weakening total workforce; and shrinking wages?

A:  Whatever you call it, it’s a greater thing than the Bubble 1.0 peak.

1)  Funny (and Demented) Seattle area Realtor anecdote regarding the potential for another housing Bubble: “House prices can’t be in a bubble because they are only 10% greater than the 2006 peak, meaning growth of only 1% per year since 2006. And 1% per year is not the Bubble type gains we saw back in the mid-2000’s”. Continue reading »

Tags: , , , , ,

Jul 15

Derivatives-at-Bank-Holding-Companies-March-31-2016-OCC-Report

Citigroup Has More Derivatives than 4,701 U.S. Banks Combined; After Blowing Itself Up With Derivatives in 2008:

According to the Federal Deposit Insurance Corporation (FDIC), as of March 31, 2016, there were 6,122 FDIC insured financial institutions in the United States. Of those 6,122 commercial banks and savings associations, 4,701 did not hold any derivatives. To put that another way, 77 percent of all U.S. banks found zero reason to engage in high-risk derivative trading.

Citigroup, however, the bank that spectacularly blew itself up with toxic derivatives and subprime debt in 2008, became a 99-cent stock during the crisis, and received the largest taxpayer bailout in U.S. financial history despite being insolvent at the time, today holds more derivatives than 4,701 other banks combined which are backstopped by the taxpayer. Continue reading »

Tags: , , , , ,

Jul 15

US Industrial Production Declines For 10th Straight Month – Longest Non-Recessionary Streak In History:

Following a 0.3% decline in May, Industrial Production rose 0.6% in June (better than the 0.3% rise expected) but year-over-year remains lower (-0.7%) for the 10th straight month. This is the longest non-recessionary streak of industrial production declines in US history. Gains on the month were driven by motor vehicle assembly (which is ironic givenm near-record inventories), but Q2 ended with a decline of 1.0% – the 3rd quarterly decline in a row (also not experienced without a recession).

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , ,

Jul 15

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Jul 14

time-man-of-the-year-helicopter-ben-bernanke


Helicopter Money——The Biggest Fed Power Grab Yet:

The Cleveland Fed’s Loretta Mester is a clueless apparatchik and Fed lifer, who joined the system in 1985 fresh out of Barnard and Princeton and has imbibed in its Keynesian groupthink and institutional arrogance ever since. So it’s not surprising that she was out flogging—-albeit downunder in Australia—- the next step in the Fed’s rolling coup d’ etat. Continue reading »

Tags: , , , ,

Jul 14

The 3 Charts That No UK Property Fund Manager Wants You To See:

Things just went from worst to worst-er in Britain’s property market. Having detailed the numerous ‘dominoes’ that have begun to fall, and most recently the start of forced real asset liquidations, the hard data from Britain’s Royal Institute of Chartered Surveyors suggests Brexit just killed the British housing market.

Having previously shown the following chart as an example of the ‘liquidity gap’ between fund-level liquidations and the exuberant UK real estate market, things could get ugly very quickly

20160712_UKProperty

But things are about to get a lot worse… Here are three charts that no UK Property fund manager wants their investors to see… Continue reading »

Tags: , , ,

Jul 14

“The Resentment Will Explode” – In Dramatic Twist, McKinsey Slams Globalization:

In a stunning study released today, one which refutes all its prior conclusions on the matter, McKinsey slams the establishment’s status quo thinking and admits that the economic gains of changes in the global economy have not been widely shared lately, especially in the developed world. It finds that between 2005 and 2014, real incomes in the world’s most advanced economies were flat or fell for 65 to 70% of households, or more than 540 million people.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 14

We’re witnessing a complete breakdown in western values:

Two months ago I was with the former President of Colombia, Alvaro Uribe, at his home outside of Medellin.

He was telling me some hilarious stories about his interactions in the early 2000s with Hugo Chavez, who had recently seized power in Venezuela. Continue reading »

Tags: , , , , ,

Jul 13

Fed’s Mester Says Helicopter Money “The Next Step” In US Monetary Policy:

“We’re always assessing tools that we could use,” Mester told the ABC’s AM program. “In the US we’ve done quantitative easing and I think that’s proven to be useful. “So it’s my view that [helicopter money] would be sort of the next step if we ever found ourselves in a situation where we wanted to be more accommodative.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 13

240 Published Papers Published In 2016 Alone Show the “97% Climate Consensus” Is A Fantasy:

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , , , ,

Jul 13

Spoofing Trader Who Outsmarted Citadel And HFTs Gets 3-Year Jail Sentence:

Michael Coscia, the first person convicted of spoofing after it was made a crime under the Dodd-Frank Act, was sentenced to three years in prison by a federal judge in Chicago. His real crime? Taking on the HFTs, and Citadel, and winning. Now he gets to spend 3 years in prison thinking about it. And let that be a lesson to anyone else out there who dares to do the same.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , ,

Jul 13

The Average Corporate CEO Was Paid 276 Times More Than You Last Year

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , ,

Jul 13

The Dow And The S&P 500 Soar To Brand New All-Time Record Highs – How Is This Possible?

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 13

Did Citi Just Confiscate $1 Billion In Venezuela Gold:

Venezuela’s President Nicolas Maduro said on Monday that Citibank planned to shut his government’s foreign currency accounts within a month, denouncing the move by one of its main foreign financial intermediaries as part of a “blockade.” What Maduro did not mention is that among the central bank accounts closed by Citi will be at least one, rather prominent, gold swap launched just over a year earlier, which saw some 1.4 million ounces in gold swapped over to Citi in exchange for cash… gold which now appears to be confiscated.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Jul 12

PANIC BUYING OF FOOD IN NEW JERSEY?:

Supermarkets in northeastern New Jersey are literally swamped with customers tonight, so much so that in some locations like Hoboken, lines are literally around the store to get it!

It is a rather unusual situation since there are no closures or shortages of any kind, so SuperStation95 sent one of our intrepid editors, Chris Rivera, to ask what — if anything — is going on?  He reports below: Continue reading »

Tags: , , , ,

Jul 12

Are You Planning Your Retirement? Forget About It. You Won’t Survive To Experience It.

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 12

New Evidence Proves HSBC Avoided Criminal Prosecution Due to “Market Risk”

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , ,

Jul 12

Here Is What Ben Bernanke Told The Bank Of Japan

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , , , ,

Jul 12

The “Mystery” Of Who Is Pushing Stocks To All Time Highs Has Been Solved

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , , , ,

Jul 12

black-teen-jobless

Following Minimum Wage Increases, Unemployment Spikes among Black Male Teens

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , , , ,

Jul 12

The Unintended Consequences of the $15/Hour Minimum Wage

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 12

The Chinese Will Need Another Bailout

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Jul 11

“Something Big” Indeed Came – Bernanke’s Japan Visit Unveils “Helicopter Money”, Sparks Monster Rally

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 11

Seagate Fires 6,500, Or 14% Of Workforce, Stock Soars

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , ,

Jul 11

Millennials Pay Rent By Selling Their Parents’ Jewelry

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,

Jul 11

Recovery!


IMF Warns Of “Global Contagion” From Italy’s Bank Crisis; Forecasts Two-Decade Long Recession

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , , ,

Jul 11

US Consumers No Longer “Eating Out” – Restaurant Guest Counts Tumble To Three Year Lows

* * *

PayPal: Donate in USD
PayPal: Donate in EUR
PayPal: Donate in GBP

Tags: , , , ,