A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ Collapse ’
Does JPMorgan’s Derivatives Fiasco Portend the Collapse of Crude Oil and … – Huffington Post
Does JPMorgan's Derivatives Fiasco Portend the Collapse of Crude Oil and ...Huffington PostAccording to The Wall Street Journal, JPMorgan's losses on what has been reported as big directional bets on credit derivatives, but never fully disclose...
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Does JPMorgan’s Derivatives Fiasco Portend The Collapse Of Crude Oil and … – Huffington Post (blog)
Justia VerdictDoes JPMorgan's Derivatives Fiasco Portend The Collapse Of Crude Oil and ...Huffington Post (blog)According to The Wall Street Journal, JPMorgan's losses on what has been reported as big directional bets on credit derivatives, but...
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MF Global Trustee Gets $168 Million From JPMorgan – New York Times
New York TimesMF Global Trustee Gets $168 Million From JPMorganNew York TimesThe trustee overseeing the return of customer money after the collapse of MF Global has received more than $168 million from JPMorgan Chase, the first bank payment since the c...
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Greece faces repeat elections as coalition talks collapse – Full story
Greece faces repeat elections as coalition talks collapse (via AFP) Debt-stricken Greece must hold fresh elections after talks on forming a new government broke up without agreement Tuesday, prolonging a tortuous crisis which could see Athens exit the troubled eurozone. The new polls, expected on June 17, follow an inconclusive election on May 6...
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Capital Controls Loom in Greece – CNBC
It looks increasingly likely that Greece will have to implement controls to prevent capital flight and a banking collapse. To my mind, the only real question is when this will occur. The widespread talk about Greece possibly leaving the euro zone is likely to trigger withdrawal of bank deposits and other financial assets, by...
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JPM Appoints Former LTCM Trader And Chairman Of TBAC As Replacement | ZeroHedge
Now… Matt Zames… Matt Zames… where have we heard that name before… OH YES: he just happens to be the Chairman of the Treasury Borrowing Advisory Committee, aka the TBAC, aka the Superommittee that Really Runs America. The Matt Zames who… “previously worked at hedge fund Long-Term Capital Management LP, may have benefited as...
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U.S. Natural Gas Weekly – May 4, 2012 | Tainted Alpha
May 4th, 2012 by Belisarius (For The Week Ending April 27, 2012) Total collapse because of oversupply this winter followed by a rebound in recent weeks. Working gas in storage rose 28 Bcf from previous week. Consensus was at 29 Bcf. Storage level is massive 810 Bcf higher than same time year ago and way above 5-year average....
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Airin’ Burnett Led to CNN Ratings Collapse After She Left CnBS Holding the Bag
In a bid to boost ratings, CNN hired the ignorant, biased, and obnoxious Wall Street cheerleader Erin Burnett away from CnBS last year. Since slotting her in prime time, the formerly somewhat credible news network’s ratings have collapsed, dragged down by her incredibly poor showing. Let’s face it. She rubbed Wall Street CEOs and...
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Bernanke’s Garbage Conomic Models Mistook Housing Bust for Dot-Com Bubble
by Peter Orszag “In a speech last month about the financial crisis, Federal Reserve Chairman Ben S. Bernanke trenchantly noted that the initial losses from the dot-com bust were about the same size as those from the housing meltdown — yet the two episodes had very different economic consequences. What Bernanke didn’t say was...
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Lehman Bros. pay report brings calls for reform – Los Angeles Times
Los Angeles TimesLehman Bros. pay report brings calls for reformLos Angeles TimesLawmakers and others say disclosure at financial institutions should be beefed up after report that 50 Lehman employees were awarded nearly $700 million in the year before...
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France May be the Domino that Causes the Euro to Collapse
Commentators are wringing their hands again, worried the troubles in Spain could cause the whole euro project to collapse. As a result, all eyes are now on Spanish 10-year debt yields, which went above 6% last week as the threat of euro-chaos returned. But it's not Spain the markets should be...
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When Does This Travesty of a Mockery of a Sham Finally End?
Intersecting global crises cannot be papered over with artifice and propaganda for long.
We all know the Status Quo's response to the global financial meltdown of 2008 has been a travesty of a mockery of a sham--smoke and mirrors, flimsy facades o...
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SPX, RUT, Silver Updates: The Ongoing Power of the Bernanke Put
On Monday, Bernanke emerged from his lair and jawboned QE3 into virtual existance, again sending the market skyrocketing. Before I go much further, I want to put up a chart I stole from Zero Hedge, who stole it from Strategas Resea...
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Another Sign Bottom is Behind, House Sales Contracts Rise 14%
Contracts for the sale of existing homes rose 15.1% month to month in February, according to data reported today by the real estate brokers lobbying organization. Sales were 14% above the level of February 2011, continuing the rebound in housing market sales. To keep this in perspective the number remains down 37% from the...
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We Have No Other Choice
America is just going through the motions because we have no other choice--or so we believe.
I have long thought that America Is Just Going Through the Motions--of caring about the deficit, of financial "reform," and everything else:
Let's...
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Money from Nothing: A Primer on Fake Wealth Creation and its Implications (Part 1)
Frequent contributor Zeus Y. explains how the financial system creates fake "wealth" from nothing and why the entire delusional scheme is imploding.
"Only God can create… value out of nothing"—Justice Martin V. Mahoney in First National...
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Why David Stockman isn’t buying it
Stockman suggests you'd be a fool to hold anything but cash now, and maybe a few bars of gold. He thinks the Federal Reserve's efforts to ease the pain from the collapse of our "national leveraged buyout" — his term for decades of reckless, debt-fuel...
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The Myth of U.S. Consumer De-Leveraging
The supposed “de-leveraging” which the mainstream media boasted of was nothing but propaganda mythology. However, the new consumer debt which Americans have piled on since the beginning of 2010 is very, very real. And all the resulting U.S. auto-loan defaults, credit-card defaults, student-loan defaults, personal bankruptcies, and foreclosures in the months ahead will be...
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NY Times Puff Piece On Japan Covers Up A Sham
An opinion piece in Sunday’s New York times does the rah rah for the apparent successes of the Japanese economy over the past 20 years. DESPITE some small signs of optimism about the United States economy, unemployment is still high, and the country seems stalled. Time and again, Americans are told to look to Japan as...
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Bill Gross Warns of Financial Market Implosion
Bill Gross starts 2012 with a bang in a new note titled "Towards The Paranormal", with "paranormal" being an international successor to PIMCO's famous 'new normal' descriptor.
Gross' letter is very gloomy.
The world has too much debt, too little tr...
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Risk is Necessary for Adaptation, Innovation and Success
Ironically, perhaps, building a new sustainable future requires being fully exposed to what is considered "the source of our problems": risk, threat and failure.
While I write a lot about financial and systemic unsustainability, the primary driver...
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Priests of the Church of Central Bank Saviors
The markets whipsaw wildly, careening between faith and fear, betting one day that the world will come to an end and the next day that the gods of central banking will save us all. Considering what we know about the ungodliness of the bankers, that faith has no basis. The faithful Congregation of the...
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Hyper Hypothecation Scandal Will Trigger Massive Short Squeeze- Zero Hedge
Zero hedge claims that the hyper hypothecation scandal will trigger the mother of all short squeezes.
http://www.zerohedge.com/news/denials-begin-interactive-brokers-first-claim-it-
has-not-engaged-commingling-rehypothecation
In this environment, no...
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SPX Update: Finally the Breakdown — What Next?
For a little more than a week, I've been calling a top, and talking about the roughly dozen different indicators which were screaming for this top in the 1250-1270 zone. On Thursday, the market finally honored my inc...
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Stocks Go Nowhere and Europe Slips Deeper into Chaos
On the bright side, stocks could've done a whole lot worse given the persistent deterioration in Europe. First, the scoreboard:
Dow: -25.6 pts, -0.2%
S&P 500: -3.1 pts, -0.3%
NASDAQ: -18.5 pts, -0.8%
And now, the top stories:
After being closed f...
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EU Collapse Coming
European politics has become a giant Jenga game. Since June 2010 governments have fallen in the Netherlands, Slovakia, Belgium, Ireland, Finland, Portugal, Slovenia, Greece and Italy.
Why E.U. collapse is more likely than the fall of the euro
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Bank Run Going On Now In Italy
This interview aired on Irish public tv on friday. This economist is laying it out there. A full-fledged run is underway in his opinion. The euro's heading for collapse and its unraveling FAST.
I did include a link below but its not displaying. Go...
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A Brave New (Broken) World
I said it the other day, and I'll say it again.
The markets are broken.
It's not that they're not functioning on a daily basis, pricing risk and assets and performing their price discovery duties. They are doing that - or at least trying to.
Those are the little,...
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Housing Outlook Clouding Up Again, And It’s Not Just Supply
Housing data over the past month has weakened. Part of that is normal seasonality, but the drop in contracts on existing homes in September was the worst in percentage terms since the housing collapse began. Although I believe that the supply problem is overblown, the last thing the market needs is further weakening in...
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Still Standing Amid the Wreckage
The New Urbanists held their big annual meet-up for four days last week and I stomped a big carbon footprint flying down to West Palm Beach for the doings. I don't know who exactly picked West Palm, but it was at once peculiar, disheartening, instructive, and exhausting. The Congress for the New...
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