Aug 16

Related info:

- Making $400,000 PER HOUR, The Best Paid Hedge Fund Manager In 2013 Was …


David-Tepper

- David Tepper Unwinds S&P, Nasdaq Calls; Liquidates QCOM, JPM; Adds To AAL, GM: Full 13F (ZeroHedge, Aug 14, 2014):

For everyone curious how the market’s favorite “balls to the wall” barometer did in the second quarter (which ended 45 days ago), here is the full breakdown.

First the notable liquidations: in the three months ended June 30, Tepper closed his SPY and QQQ Call positions, which had a total notional equivalent of over $1.5 billion, as well as liquidating his stakes in QCOM, JPM, Metlife, Trinity, Delphi, Hess, Valmont, Ingersoll-Rand, Omincom and Beazer.

Tepper entered new positions in Mohawk, Weatherford and Ryland Group. Continue reading »

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Aug 15

bubble burst_0

- 14 Reasons Why The U.S. Economy’s Bubble Of False Prosperity May Be About To Burst (Economic Collapse, Aug 14, 2014):

Did you know that a major event just happened in the financial markets that we have not seen since the financial crisis of 2008?  If you rely on the mainstream media for your news, you probably didn’t even hear about it.  Just prior to the last stock market crash, a massive amount of money was pulled out of junk bonds.  Now it is happening again.  In fact, as you will read about below, the market for high yield bonds just experienced “a 6-sigma event”.  But this is not the only indication that the U.S. economy could be on the verge of very hard times.  Retail sales are extremely disappointing, mortgage applications are at a 14 year low and growing geopolitical storms around the world have investors spooked.  For a long time now, we have been enjoying a period of relative economic stability even though our underlying economic fundamentals continue to get even worse.  Unfortunately, there are now a bunch of signs that this period of relative stability is about to end.

The following are 14 reasons why the U.S. economy’s bubble of false prosperity may be about to burst: Continue reading »

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Aug 13

- Bubble Market Stunner: Revenueless Biotech Goes Public, Drops, Trades For Six Days, Then Voids Entire IPO (ZeroHedge, Aug 12, 2014):

In what is certainly a historic, and quite stunning, market first, not to mention prima facie evidence that Janet Yellen was right about the biotech (and not only) bubble, last week the equity markets experienced something that has not happened in decades: a biotech firm went public, traded for six days, only to announce Friday that it would void its IPO and won’t issue shares after all, thanks to a key investor’s failure to follow through on a commitment to buy stock. In other words, days after going public, yet another darling of the momo bubble mania du jour, decided to undo everything, and went back to being private (and soon: bankrupt).

Huh?

You read that right: a precommitted, fully underwritten offering, in which the underwriter took the risk, if only on paper, to absorb all the shares sold to the public even if “key investors” mysteriously fail to show up, decided to pull the switch on the party a week after said buyer decided to not make an appearance after all, perhaps because after IPOing at $12, the stock promptly tumbled and never regained its going public level. As the WSJ summarizes,  “all the investors who thought they had bought or sold shares in Vascular Biogenics Ltd. since it began trading hadn’t.Continue reading »

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Aug 07

- Must Read: Fear And Loathing On The Marketing Trail  (ZeroHedge, Aug 5, 2014)

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Jul 31

Related info:

- Clintonians Join Vulture Flock Over Argentina

- Argentina: 1 Week Left Until ‘D’efault-Day (ZeroHedge, July 22, 2014)


- Argentina Defaults (ZeroHedge, July 30, 2014):

It’s all over but the crying: having explained Argentina’s position (i.e. not giving to so-called vulture funds), Economy Minister Kicilloff explains:

  • *KICILLOF SAYS HEDGE FUNDS NOT WILLING TO GIVE DELAY ON RULING
  • *KICILLOF SAYS HARD TO BELIEVE ARGENTINA IN DEFAULT IF HAS FUNDS
  • *KICILLOF SAYS ARGENTINA CAN’T COMPLY WITH COURT RULING
  • *HOLDOUTS DIDN’T ACCEPT ARGENTINE OFFER: KICILLOF

As Bloomberg notes, by defaulting today, Argentina may trigger bondholder claims of as much as $29 billion — equal to all its foreign-currency reserves. Just remember that the last 2 days have seen ‘smart money’ buy Argentine bonds and stocks to all-time record highs. Continue reading »

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Jul 30

- Moscow Stock Exchange Breaks – Trading Halted (ZeroHedge, July 30, 2014):

No reasons given but Moscow Stock Exchange has just suspended trading with no reasons specified…

20140730_micex

One can’t help but wonder if this is another ‘sanction’ that was not officially described by President Obama and Jack Lew…

20140730_MICEX1

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Jul 30

- Ron Paul: Stocks are in a bubble and will crash (CNBC, July 29, 2014):

Ron Paul, the former U.S. representative from Texas and perhaps America’s most popular libertarian voice, has long said that the nation’s monetary and fiscal policies would result in massive inflation. According to the common measures of inflation, this has not yet occurred. But Paul maintains that the inflation he has warned of has indeed come to fruition in asset prices, and that once it unravels, a market crash will ensue. Continue reading »

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Jul 30

Banco Espirito Santo Plunges: Shareholder Meeting Cancelled Due To “Unexpected Facts” (ZeroHedge, July 29, 2014):

With all other operating holdcos having already declared bankruptcy, the anxiety over Banco Espirito Santo is growing (despite DE Shaw and Goldman Sachs recommending investors buy the shares). Despite Bank of Portugal reassurance last night that “BES is able to raise capital), the stock is plunging on news of “unexpected facts” this morning…

  • *BANCO ESPIRITO SANTO SAYS SHAREHOLDER MEETING WAS CANCELLED DUE TO “UNEXPECTED FACTS”
  • *BANCO ESPIRITO SANTO FALLS MORE THAN 13% IN LISBON TRADING

Remember, this is systemic (as the Portugues President has warned), and the contagion is potentially global… not “contained.” Continue reading »

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Jul 29

marc-faber

- Marc Faber Responds To CNBC Mockery, Asks “How Has CNBC’s Portfolio Done Since 1999?” (ZeroHedge, July 28, 2014):

Having provided his clarifying perspective on why the markets are extremely fragile and due for a 20-30% correction, Marc Faber was assaulted by CNBC’s Scott Wapner reading off a litany of recent calls that have not worked out as planned. His response was notable: “I started to work in 1970, and over that career, somehow, somewhere, I must have made some right calls; otherwise I wouldn’t be in business.” What CNBC then edited out of the transcript was Faber pointing out his 22% annualized return in his publicly-viewable funds since then and asking – sounding somewhat frustrated at the anchor’s mockery (and background snickers) – “I wonder what the CNBC portfolio would look like since 1999?”The response: silence. Continue reading »

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Jul 29

- Here’s What Wall Street Bulls Were Saying In December 2007: Read And Take Cover! (David Stockman’s Contra Corner, July 28, 2014):

The attached Barron’s article appeared in December 2007 as an outlook for the year ahead, and Wall Street strategists were waxing bullish. Notwithstanding the advanced state of disarray in the housing and mortgage markets, soaring global oil prices and a domestic economic expansion cycle that was faltering and getting long in the tooth, Wall Street strategists were still hitting the “buy” key. In fact, the Great Recession had already started but they didn’t have a clue:

Against this troubling backdrop, it’s no wonder investors are worried that the bull market might end in 2008. But Wall Street’s top equity strategists are quick to dismiss such fears.

Indeed, with the S&P 500 at an all-time high of 1460, the dozen top Wall Street prognosticators surveyed by Barron’s anticipated still more index gains during 2008: Continue reading »

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Jul 23

- The Rot Within, Part I: Our Ponzi Economy (OfTwoMinds, July 21, 2014):

Depending on blowing the next bubble to temporarily prop up the economy is the height of foolhardy shortsightedness. Yet that’s our Status Quo, increasingly dependent on inflating bubbles to evince “economic strength” when the Ponzi paint will soon peel off the rotten wood of the real economy.

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Jul 21

- The Insiders’ Case for a Stock Market Mini-Crash  (Of Two Minds, July 21, 2014):

The trade only works if everyone is lulled into staying on the long side until it’s too late.

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Jul 18

- The Marginal “Benefit” Of A Terminated Microsoft Employee: $1.5 Million (ZeroHedge, July 17, 2014):

Since the advance reports of layoffs at Microsoft started circulating this Sunday, the giant tech company has surged over 8%. This has raised the market cap of the behemoth by almost $28 Billion. Today we get the ‘news’ that Microsoft was laying off a record 18,000 employees (more than tripled the 2009 dump of 5,900 employees).That means – for all activist investors out there looking to raise MSFT share price – a $1.5 million market cap boost for each scalp, which, in other words, is the marginal “value added” of every currently employed Microsoft worker.

20140717_MSFT

 

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Jul 16

- The Final Warning: Individual Investors Piling Into Stocks, Market Leverage Hits All Time Highs (SHFT, July 14, 2014):

The story goes that in the Winter of 1928 Joe Kennedy, father of President John F. Kennedy, went to have his shoes shined. When the shoe shine boy finished he offered Kennedy a tip. “Buy Hindeburg,” he said.

Kennedy promptly sold off all of his stock holdings. Within a year the United States saw a massive stock market crash that wiped out the life savings of millions of Americans and ushered in a decade’s long Great Depression.

When asked why he sold all his stocks Kennedy replied, “You know it’s time to sell when shoeshine boys give you stock tips. This bull market is over.”

Throughout history there have always been critical warning signs in the midst of financial exuberance that signaled the bursting of the bubble.

According to a report from Bloomberg the warning siren may have just gone off again. Continue reading »

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Jul 13

muppets-kermit-dead

Summary:

Recall that it was Goldman’s David Kostin who in January admitted that “The S&P500 Is Now Overvalued By Almost Any Measure.” It was then when the Goldman chief strategist admitted there was only 3% upside to the bank’s year end target of 1900.  Well, that hasn’t changed. In his latest note Kostin says that “S&P 500 now trades at 16.1x forward 12-month consensus EPS and 16.5x our top-down forecast… the only time S&P 500 traded at a higher multiple than today was during the 1997-2000 Tech bubble when margins were 25% (250 bp) lower than today. S&P 500 also trades at high EV/sales and EV/EBITDA multiples relative to history. The cyclically-adjusted P/E ratio suggests S&P 500 is now 30%-45% overvalued compared with the average since 1928.” And this is where Goldman just goes apeshit full retard: “we lift our year-end 2014 S&P 500 price target to 2050 (from 1900) and 12-month target to 2075, reflecting prospective returns of 4% and 6%, respectively.

Wait, what???

- Goldman Admits Market 40% Overvalued, Economy Slowing, So… Time To Boost The S&P Target To 2050 From 1900 (Zerohedge, July 12, 2014):

One has to give it to Goldman Sachs: the bank which until a few years ago just couldn’t lose a penny, is about to report earnings which will, even if they beat Wall Street’s estimate, be an embarrassment to the bank that openly used to run the world until very recently. The reason, aside from the moribund economy, is that trading volumes have plummeted at an unprecedented pace as i) nobody trusts the centrally-planned capital markets any more and ii) valuations are, despite what permbulls can say on TV stations with record low viewership, so ridiculous few if any would actually go long here. Continue reading »

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Jul 12

- Russell 2000 Slumps Into Red For 2014; Gold Best Year-To-Date (ZeroHedge, July 11, 2014):

The Russell 2000 closed down almost 4% from last Thursday’s early close – its worst week in 3 months (and in the red year-to-date). The Nasdaq miraculously scrambled back to unchanged from Payrolls but all major indices closed red for the week. Away from stocks, the USD closed unchanged (with notable CAD weakness and JPY strength). Treasury yields tumbled 13bps on the week – the most in 4 months. Gold and silver rose 1.3% on the week to new 4-month highs (6th green week in a row) as WTI Crude slumped back under $101 (-3.3% on the week). VIX rose around 2 vols back above 12 as “most shorted” stocks plunged over 5% – the biggest weekly drop in 25 months! VIX was slammed lower late-on to give the impression of confidence in stocks into the weekend but credit was notably not buying it at all.

The “most shorted” stock double-top appears to have confirmed… with the worst week in over 2 years!!

20140711_EOD7

Gold is the best performing asset of the year as oil tumbled (and silver overtook stocks)

 

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Jul 11

In other news:

- Cynk sunk: regulators suspend trading in mystery company (Guardian, July 11, 2014):

Financial Industry Regulatory Authority halts trading in tech company with no assets, no revenue and just one employee

- Trading in CYNK Technology halted by SEC (CNBC, July 11, 2014):

Federal regulators on Friday halted trading in CYNK Technology, the mysterious over-the-counter stock that ran from a few cents to over $21 in a month.

Before:

- Pure Madness: Revenueless, Assetless CYNK Soars Over $5 BILLION; Bigger Than GameStop, Cablevision, Jabil Circuit

- Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion (+110%) Today On 57K Shares Traded

- Market Top? Meet The $1 Billion Company With Zero Revenues


CYNK Has Been Halted By The SEC
 Shares in Cynk have skyrocketed since June, but the company has yet to make any profit – or even officially launch.

How The Market Is Like CYNK (Which Was Just Halted) (ZeroHedge, July 11, 2014):

For all the drama and comedy surrounding the epic idiocy in which a bunch of “investors” took the price of non-existent company CYNK from essentially zero to a market cap of over $5 billion in under a week, most people missed the key message here: the stock is a harbinger of what is happening to the entire market. Because while those defending what is clear irrational exuberance, scratch that, irrational idiocy are quick to point out that CYNK’s epic surge took place on less than 0.1% of its outstanding shares, these are the same people to say precisely the opposite about the S&P 500. “Ignore the collapsing volumes sending the stock market to all time high – it’s perfectly normal” is an often repeated refrain by the permabullish crowd. Just not when it involves case studies in market insanity like CYNK apparently.

Perhaps ironically, it was the concurrent most recent crisis in Europe, that involving Portugal’s cryptic Espirito Santo group, whose top-most HoldCo is largely shrouded in secrecy yet which somehow is not a deterrent to the sellside community to issue one after another “all is clear; don’t pull your deposits please” note, that confirmed not only that nobody has any idea what the real situation of European banks is, but how the entire capital market has now become nothing more than one glorified CYNK penny-stock turning into a mid-cap.

Deutsche Bank’s Jim Reid explains: Continue reading »

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Jul 10

jim_cramer

Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion (+110%) Today On 57K Shares Traded (ZeroHedge, July 9, 2014):

Just 2 days ago we highlighted the best example of the exuberance awash the markets currently – CYNK Technology Corp, the social media development company that had a market capitalization in excess of $1 billion, which according to official filings,  had one employee, no website, no revenue, no product, and no assets. Fast forward 2 days – and some 57,000 shares traded (about 0.02% of its total shares outstanding) at around $10 and CYNK now has a market cap approaching $3 billion (and still no revenue, no product, and no assets)… Lord Overstone said it best. “No warning can save people determined to grow suddenly rich.”

 

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Jul 08

And I can only repeat myself …

BTFATH!

child-stacking-blocks

… because what could possibly go wrong?

From the article:

“Welcome to the new normal capital structure, where everything is upside down and nothing makes sense.

Oh, and to all those pointing to the weekly increase in the H.8 statement and screaming “look at the recovery”, our apologies: you are, as usual, wrong.”

I hope you are prepared for what is coming.


Stock Buyback Shocker: Companies Using Secured Bank Loans To Repurchase Stock (ZeroHedge, July 8, 2014):

It took the mainstream media a few months to catch up to the theme first revealed here that in addition to the fading QE (even if supplanted by NIRP in Europe and Turbo QE in Japan), one of the primary driving forces of the market’s outperformance in 2014 was a relentless buyback bid as corporations, lacking better uses for their cash, bought a record amount of their own shares in Q1 (and as will soon be proven) in Q2 attempting to increase the EPS by lowering the S.

It was only logical that it would take the MSM a while to follow up with the logical next connection: one which is so simple we described it back in 2012 when we showed “Where The Levered Corporate “Cash On The Sidelines” Is Truly Going” – namely, an unprecedented scramble to lever up and use the proceeds to buy back stocks, a decision which is great for existing shareholders and horrible for the economy (as it means much less spending on capital investment) for employees (as it means less cash available for wages and thus, for the all important wage inflation) and for the long-term viability of the buying back company (as it levers up the corporate balance sheet without a matching increase in revenues or cash flows, in fact, the opposite).

Which brings us to today, and specifically, an FT article titled “Bankers warn over rising US business lending” in which we read that “US lending to businesses is reaching record levels but banks are privately warning that the activity should not be seen as evidence of an economic recovery.”

And the stunner: Much of the corporate lending is going to fund payouts to shareholders, finance acquisitions and fuel the domestic energy boom, bankers say, rather than to support companies’ organic growth.

Continue reading »

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Jul 08

- Marc Faber: The asset bubble has begun to burst (CNBC, July 8, 2014):

It’s the question investors everywhere are wrestling with: Are asset prices in a bubble, or do they simply reflect the fact that the global economy is growing once again?

For Marc Faber, editor of the Gloom, Boom & Doom Report, the answer is clear. In fact, he says the bubble may already be bursting.

“I think it’s a colossal bubble in all asset prices, and eventually it will burst, and maybe it has begun to burst already,” Faber said Tuesday on CNBC’s ‘Futures Now’ as the S&P 500 lost ground for the second-straight session. Continue reading »

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Jul 07

H/t reader M.G.:

“You need to read to the last sentence to get what I have been saying for months. Less than half the world international transactions are now completed in US dollars……..”


US economist Joseph Stiglitz
US economist Joseph Stiglitz

- Stiglitz: I’m ‘very uncomfortable’ with current stock levels (CNBC, July 7, 2014):

Nobel Prize-winning economist Joseph Stiglitz said on Monday he is “very uncomfortable” with current stock market levels, arguing they do not equal a strong economic recovery in the United States.

The Dow breached 17,000 points on Thursday before the U.S. markets closed for the long July Fourth weekend. The jump came after the U.S. government reported the economy created a better-than-expected 288,000 jobs in June and the unemployment rate fell to 6.1 percent.

“The reason the stock market is high, in part, is that interest rates are low, wages are low and the emerging markets are still growing much faster than the U.S. economy, let alone Europe,” Stiglitz said. He pointed to the fact that many U.S.-listed multinationals are increasingly getting a large chunk of their profits from emerging markets. Continue reading »

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Jul 04

Largest Austrian Bank Crashes After “Revealing” 40% Surge In Bad Debt Provisions, Record Loss (ZeroHedge, July 4, 2014):

Update: just as expected, the confidence-preservation brigade is quick on the scene:

  • HUNGARY LOAN-REFUND LAW VIOLATES RULE OF LAW: BANK ASSOCIATION 
  • HUNGARY LOAN-REFUND LAW DAMAGES INVESTOR CONFIDENCE, BANKS SAY

Because clearly marking loans to fair value would crush investor confidence. And clearly investors are dumb enough not to realize that it is precisely by hiding what is beneath the surface, that they have zero confidence in the system.

* * *

Ever since 2012, when we first revealed that the biggest problem plaguing Europe’s financial sector is the $2 trillion+ in bad debt on the books of European banks (not our numbers, the IMF’s), it became clear that the only way Europe can avoid a complete financial meltdown coupled with currency disintegration, is if it can constantly keep rolling over said bad debt (obviously the only way to do that would be to create an epic debt bubble leading managers of other people’s money to do idiotic things like buy Spanish debt at 2.75%). This is why not only the BOJ launched its mega QE in 2013, but why Draghi also kicked in with NIRP a month ago: the logic – do anything and everything to reflate the biggest credit bubble possible as otherwise European banks will have no choice but to face up to their trillions in bad loans. Continue reading »

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Jul 04

BTFATH!!!

child-stacking-blocks


- What Happened The Last 4 Times Stocks Rallied For 23 Quarters? (ZeroHedge, July 3, 2014):

Does this look sustainable to you? Of course, it’s different this time, right?

The S&P 500 is in the 23rd quarter of its recovery – and shows a 196% gain…. the last four moves of similar magnitude ended very badly.

What Happened The Last 4 Times Stocks Rallied For 23 Quarters

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Jun 30

- Argentina Must Pay $539 Million Today – Default Imminent (ZeroHedge, June 30, 2014):

Today is the day that Paul Singer and his Elliot Capital Management team have been waiting for. Thanks to SCOTUS’ decision, as Bloomberg reports, Argentina is poised to miss a bond payment today, putting the country on the brink of its second default in 13 years, after a U.S. court blocked the cash from being distributed until the government settles with creditors from the previous debt debacle. The decade-long battle between Argentina and holdout creditors from the country’s $95 billion default in 2001 is coming to a head as the judge’s decision “closes Argentina’s options to finally force it to negotiate,” and “should now stop using these delay tactics and get serious.” Argentina sees it a different way, the ruling “is merely a sophisticated way of of trying to bring us down to our knees before global usurpers,” according to the economy minister Axel Kicillof.

Amid all this, Argentina’ MERVAL remains near all-time record highs… (as equity hopes of devaluation trump bond fears of default)

20140630_MERVAL

As Bloomberg notes, if non-payment were to occur today, default would not be officially triggered yet (forcing Argentina’s hand to negotiate)… Continue reading »

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Jun 29

- The Delusion Of Perpetual Motion; Bob Shiller Warns “I’m Definitely Concerned” (ZeroHedge, June 29, 2014):

I am definitely concerned. When was [the cyclically adjusted P/E ratio or CAPE] higher than it is now? I can tell you: 1929, 2000 and 2007;” warned Bob Shiller this week, adding that “it’s likely to turn down again, just like it did the last two times.”

As John Hussman explains,

The central thesis among investors at present is that they are “forced” to hold stocks, given the alternative of zero short-term interest rates and long-term interest rates well below the level of recent decades (though yields were regularly at or below current levels prior to the 1960s, which didn’t stop equities from being regularly priced to achieve long-term returns well above 10% annually). The corollary is that investors seem to believe that as long as interest rates are held near zero, stocks will continue to advance at a positive or even average or above-average rate. Continue reading »

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Jun 29

BIS, the central bank of central banks, is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City.  It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws.  Even Wikipedia admits that “it is not accountable to any single national government.

Related info:

- Another Conspiracy ‘Theory’ Becomes Conspiracy ‘Fact’: ‘Cluster Of Central Banks’ Have Secretly Invested $29 TRILLION In The Market

- 40 Central Banks Are Betting This Will Be The Next Reserve Currency


bis-bank-for-international-settlements-basel-switzerland

- BIS Slams “Market Euphoria”, Finds “Puzzling Disconnect” Between Economy And Market (ZeroHedge, June 29, 2014):

“… it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally….  Despite the euphoria in financial markets, investment remains weak. Instead of adding to productive capacity, large firms prefer to buy back shares or engage in mergers and acquisitions.

As history reminds us, there is little appetite for taking the long-term view. Few are ready to curb financial booms that make everyone feel illusively richer.  Or to hold back on quick fixes for output slowdowns, even if such measures threaten to add fuel to unsustainable financial booms. Or to address balance sheet problems head-on during a bust when seemingly easier policies are on offer. The temptation to go for shortcuts is simply too strong, even if these shortcuts lead nowhere in the end.

     – Bank of International Settlements, 84th Annual Report

It was a year ago when the general manager of the Bank of International Settlements (the central banks’ central bank), Jamie Caruana warned that the “Monetary Kool-Aid Party Is Over.” Since then central banks have proven their own supervisor wrong in their ability to kick the can, because even as the Fed has commenced tapering its own QE (due to the same bond market liquidity issues we warned about last summer) the ECB has more than offset the Fed’s brief attempt at policy normalization by escalating, for the first time in history, from ZIRP to NIRP. In other words, the Kool-Aid keeps flowing.

Which brings us to the BIS’ just released annual report. There are many reason to read the full report cover to cover, but perhaps the most prominent one is that, once again, the Bank of International Settlements has merely compiled a book report of all Zero Hedge posts not only over the past year, but since our inception.

A quick summary of the report comes from FT: Continue reading »

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Jun 26

- The State Of The Union: A Friendly Reminder Where We Stand Now (ZeroHedge, June 25, 2014):

Spend more than a few minutes watching CNBC (yes all 2,000 of you) and you will be told how great things are, how great things will be, and how (no matter how bad the immediate ‘event’ is) the hockey-stick of future exceptionalism will always be there. In the interests of full disclosure, that is wrong and these four charts show why… a friendly reminder of the state of the union…

20140625_oomph

…But then there is all this wonderful wealth creation… Continue reading »

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Jun 25


Added: June 23, 2014

If the above video does not play watch it here: YouTube

Description:

The lies bankers have disseminated to the four corners of the earth regarding inflation rates and stock markets prevent people from making informed decisions about converting fiat currency into physical gold and silver. Don’t get left behind when gold and silver soar and fiat currencies collapse as the Central Bank currency wars enter their final stage. Continue reading »

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Jun 17

- The Latest From The Iraq War Theater – The Complete Troop Movements (ZeroHedge, June 17, 2014)

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Jun 08

From the article:

“Of course, since neither facts, nor news, nor events, nor anything matters in a centrally-planned market, just BTFATH.”


follow the money

The Mystery Grows: Goldman Finds That Virtually Everyone “Sold In May” (ZeroHedge, June 8, 2014):

The great mystery of the endlessly levitating market continues to confound everyone, even Goldman Sachs. Because while the market soared in May (and has continue to surge in June) contrary to the sell in May mantra, when peeking beneath the market’s covers, Goldman has found that most investor groups did just as they are supposed to do for this time of the year: they sold!

From Goldman’s David Kostin: Continue reading »

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