DB’s chart of the US unemployment rate (below) received numerous comments on Twitter. Clearly the projection of the linear decline continuing at the same rate is a bit aggressive. But many of the comments were dismissive of the measure altogether – arg…
The stock market today is still climbing, two days after Federal Reserve Chairman Ben Bernanke made the surprising announcement that the Fed would start tapering its quantitative easing policy in January.
With the 2013 Santa stock market rally in full euphoric swing, any discussion of a crash in 2014 strikes a note of cognitive dissonance. With the Fed promising to keep interest rates at zero until 2099 (or whatever date signifies “forever”), the prospects of ever-higher prices in every asset class never seemed brighter.
US markets end the week back in an uptrend, led, interestingly, by SPX and the Dow, with NDX and RUT lagging. A majority of sectors regained their rising 20-dma (short term) and 50-dma (long term) trend.SPX is back above a rising 13-ema (yellow circles…
I strongly believe that everyone should own some physical gold. It’s been the store of value, and the preferred method of asset protection for more than 5,000 years. It’s irreplaceable.
But I also believe that every investor ought to own at least some of the new digital money known as bitcoin.
Someone must have known something. Natural gas jumped 2% before the Department of Energy released its Weekly Natural Gas Storage Report at 10:30 a.m. Normally, the report sends gas futures gyrating up or down. Today, they gyrated up from the start of t…
Office sign found in Daejeon, Korea.
About a year ago we discussed the argument made by Goldman’s lawyers that under the Volcker rule, banks should be allowed to invest in credit funds (see post). The rationale is that if banks can lend to companies directly, why can’t they invest in funds who make the same types of loans? In particular, Goldman was defending its lucrative mezzanine fund business which provides junior capital to companies. Goldman and other banks compete with private equity firms such as Blackstone in managing credit portfolios for clients.
An automated banking utility has no need for parasitic bankers or politicos or indeed, a central bank.
For the last twenty years, European Union members regularly snarled at the United States’ policies against illegal aliens as a selfish violation of human rights. But with thousands of screaming demonstrators protesting against depressed wages and carrying fake coffins emblazoned with the names of politicians, EU Labor Ministers in Brussels were forced on December 17th […]