Baltic Dirty Tanker Index rose 3.5%; Baltic Clean Tanker Index fell 3.1%.
Baltic dry index rose 6.9% last week; Capesize Index was down 1.4%; Panamax Index rose 5.3%; Supramax Index was up 16.0%; Handysize Index rose 7.3%.
Iron ore inventory at Chinese ports close to all-time high; price pretty much unchanged. Steel stockpi…
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…
Instead of just swallowing Ministry of Propaganda swill, let’s examine actual data. If we do that, we find job growth is mostly smoke and mirrors.
The Ministry of Propaganda and its media minions are announcing that “job growth is on a tear” and…
Every month the gummit’s Bureau of Liar Statistics (BLS) dutifully reports reams and reams of data on the employment situation in the US. Some of…
When the federal government guarantees a student loan, that loan is subject to accounting treatment that was established by the 1990 Fair Credit and Reporting Act (FCRA). It should come as no surprise that the FCRA methodology is not “fair” at all….
Like the bubonic plague, financialization has a lifecycle that cannot be reversed by Federal Reserve or European Central Bank intervention.
Let’s pretend the Federal Reserve can force the financialization lifecycle back into expansion. Why do…
Nonfarm payrolls rose 227.000 in February; Consensus was at 210.000; January reading was an increase of 284.000 (revised up 41.000). Unemployment was reported at 8.3% vs. prior reading and consensus of also 8.3%.
Private payrolls were up 233.000 vs. 2…
“Consumer Confidence Rises to 4-Year High,” blared the Bloomberg headline in a font that really was that big. That’s just so wrong. So wrong. I…
How well will Bernanke’s new “sterilized QE” idea work to support the bond market while reigning in inflation? Not well at all. Let us count the ways (and the unintended consequences)…