Facing rampant inflation and a shortage of dollars, Venezuela’s state-owned oil company, Petróleos de Venezuela SA (PDVSA), is looking to sell its Citgo assets for $10 billion.
Instead of getting the healthy correction that many market watchers have been expecting for months, several hard-to-see cracks in the market infrastructure could instead give us a full-blown stock market crash.
Gold mining stocks have benefitted from gold prices’ 6.24% rise in 2014 – with some rising as much as 13 times the gain in physical gold.
Over the past three months, the year-over-year growth in credit card debt has exceeded wage growth in the United States. This is the first time we’ve seen this trend since the Great Recession. While it clearly indicates improved US consumer confidence …
Yet another mournful start for the early openers: Kiwis -0.2%, Aussies -0.5%, Nikkers -1.3% and Sth Korea -0.5%.
Aussie sectors mostly down: Consumer Discretionary/Miners -0.8% and Materials -0.7%.
Here are two major trends currently underway in the US energy markets:1. Cushing, Oklahoma inventories (the location for settlement of WTI futures) are falling to new lows. The crude backlog that existed in recent years has been resolved. Oil now moves…
One of the greatest misalignments in energy, right here in America.
U.S. monetary authorities did not intervene in the foreign exchange markets during the April-June quarter, the New York Fed said today in its quarterly report to the U.S. Congress.
Last week the U.S. Government Accountability Office (GAO) released a report titled “Large Bank Holding Companies: Expectations of Government Support.”
And wouldn’t you know it – all the “Too Big to Fail” banks broke out their crack pipes.
Monetary central planning is failing to achieve Keynesian “escape velocity” because it has deeply impaired the engines of capitalist enterprise. Nowhere is this more apparent than in the grotesque financialization of American business that has occurred since the 1980s. As usual, the deformation is rooted in the massive growth of debt carried by non-financial businesses.…