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Latest Articles: Business/Finance
Is the World Economy Just A Laundry Basket Filled with Dirty Clothes?
Post Date: 2016-02-21 11:26:03 by BTP Holdings
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Is the World Economy Just A Laundry Basket Filled with Dirty Clothes? Posted on February 8, 2016 by Peter Blatt, JD., LL.M. peter Blatt Making investment allocation choices reminds me of a conversation that I almost had with my teenage son. Last week, my 14-year-old son came downstairs and said to me “I’m out of shirts for school.” Well, actually, that’s what he would have said if he really spoke to me, but he’s a teenage boy, and I will pretend that we had this dialog, even though he doesn’t actually speak in the morning. “Dad, I’m out of clean shirts. I don’t have anything to wear for school.” He then proceeded to go over to the ...
Simple Janet Is Lost in the Keynesian Puzzle Palace
Post Date: 2016-02-20 19:38:44 by BTP Holdings
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Simple Janet Is Lost in the Keynesian Puzzle Palace By David Stockman Why do our central bankers think negative interest rates (NIRP) can possibly stimulate credit growth and old-fashioned Keynesian GDP expansion in a world of Peak Debt? Well, the truth is, they don’t think it. They assume it. Since they erroneously believe that capitalist main street is utterly dependent upon their constant assistance, virtually any short-run development—adverse or otherwise—is taken as evidence that more monetary policy intrusion is needed. Indeed, this faulty frame of mind has gone so far that they now interpret the negative feedback loop from their own bubble inflation as evidence ...
Gold Bulls Feast as More Central Banks Drive Rates Below Zero
Post Date: 2016-02-20 14:52:09 by BTP Holdings
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Gold Bulls Feast as More Central Banks Drive Rates Below Zero Image: Gold Bulls Feast as More Central Banks Drive Rates Below Zero Friday, 19 Feb 2016 01:50 PM Gold bears for years fed off the prospects for higher borrowing costs. Now bulls are thriving in a world where negative rates are becoming commonplace. The Bank of Japan adopted negative rates last month to spur growth, joining central banks in Denmark, the euro area, Sweden and Switzerland. With about a quarter of the world economy facing negative rates in some form and growth faltering, gold has become one of this year’s best investments. It’s a big turnaround for the metal which slid to a five-year low in December ...
ETFs at Risk of a Run
Post Date: 2016-02-20 10:37:04 by BTP Holdings
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ETFs at Risk of a Run The perma bulls are already saying that the correction is over and are urging their clients to once again buy the dip. Nearly every one of the major banking houses have year-end price targets for the S&P 500 well above current levels: >> Goldman Sachs estimates it will be up 11%... >> Morgan Stanley says 15%... >> Barclay’s, 16%... >> And RBC Capital, 17%... A cynic might dismiss this exuberance as merely the usual Wall Street cheerleading. After all, you can’t sell stock, ETFs and other financial products to investors when you are projecting a down market. And so they never do. Yet chalking these dubious targets off to ...
Is it Amazon? Or Something Much Worse That’s Eating Retail?
Post Date: 2016-02-19 18:53:01 by BTP Holdings
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Is it Amazon? Or Something Much Worse That’s Eating Retail? Mike Larson | Friday, February 19, 2016 at 4:20 pm Blame Amazon.com (AMZN)? Or something much worse? That’s the question investors are (once again) wrestling with today in the wake of lousy retail news. The latest casualty is department store chain Nordstrom (JWN). It warned last night that same-store sales at its full-price outlets dropped 3.2% during the holiday season. Pressure on margins and those weak sales drove profit down to $180 million, or $1 a share in the most recent quarter, from $255 million, or $1.32 a share in the year-earlier period. Analysts were looking for $1.22 a share. In the wake of the ...
"I Guess It's Food Stamps": 400,000 Americans In Jeopardy As Giant Pension Fund Plans 50% Benefit Cuts
Post Date: 2016-02-18 20:27:45 by Southern Style
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"I Guess It's Food Stamps": 400,000 Americans In Jeopardy As Giant Pension Fund Plans 50% Benefit Cuts Submitted by Tyler Durden on 02/18/2016 18:06 -0500New York Times Dale Dorsey isn’t happy.After working 33 years, he’s facing a 55% cut to his pension benefits, a blow which he says will “cripple” his family and imperil the livelihood of his two children, one of whom is in the fourth grade and one of whom is just entering high school.Dorsey attended a town hall meeting in Kansas City on Tuesday where retirees turned out for a discussion on “massive” pension cuts proposed by the Central States Pension Fund, which covers 400,000 participants, ...
Armageddon Is Inevitable
Post Date: 2016-02-18 07:21:56 by BTP Holdings
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Robert Williams: Hi there. I’m Robert Williams, the Founder and Publisher of Wall Street Daily. I’d like to thank you for joining me for this exclusive event with bestselling author, global asset manager, and world renowned financial expert Peter Schiff. Robert Williams Even if you think you don’t know Peter’s work, odds are that you do. Peter’s brilliantly timed 2006 trade against the housing market inspired the book – and the academy award-nominated movie – The Big Short. But now, a decade after Peter first predicted the Subprime Mortgage Meltdown, he’s issuing an even more serious warning. The warning concerns a Category-5 hurricane ready to ...
These are Wall Street’s new favorite candidates
Post Date: 2016-02-18 05:21:47 by BTP Holdings
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These are Wall Street’s new favorite candidates Yahoo Finance By Rick Newman 15 hours ago Jeb Bush was the master of Wall Street funding during the first half of 2015, but those big-money bets are now shifting to other candidates. Yahoo Finance analyzed all donations of $10,000 or more to the super PACs supporting each major presidential candidate, and found that Marco Rubio and John Kasich have picked up new funding from Wall Street, while donations to Bush’s super PAC have dropped sharply. Here’s a breakdown of super PAC funding for all of 2015: View gallery Sources: Federal Election Commission, Yahoo Finance The Bush super PAC, Right to Rise, hauled in far more ...
Ron Paul, Tom Woods, Jim Rogers and Judge Napolitano Take On the Fed
Post Date: 2016-02-17 09:47:41 by christine
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Crude Producers and Central Bankers Try to Scare the Bears — Will it Work?
Post Date: 2016-02-16 20:27:28 by BTP Holdings
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Crude Producers and Central Bankers Try to Scare the Bears — Will it Work? Mike Larson | Tuesday, February 16, 2016 at 4:20 pm After getting pummeled for weeks, central bankers and crude producers went on the offense in the past 96 hours. First, European Central Bank President Mario Draghi went before the European Parliament yesterday to proclaim the banking system sound and resilient. He said higher capital buffers and other things made the situation “very different from what it was in 2012" during the eurozone debt crisis. He also said the ECB “will not hesitate to act” further to combat economic weakness when it next meets on March 10. Second, officials from ...
Negative (Interest Rate) Reinforcement
Post Date: 2016-02-16 06:49:29 by BTP Holdings
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Negative (Interest Rate) Reinforcement Published Tue, Feb 16, 2016 | Alan Gula, Chief Income Analyst This "trend" is bad news for all. Negative Interest Rates May Come to U.S. The message coming from central bankers is clear: The beatings will continue until morale improves. If the global equity markets don’t perform well, negative interest rate coercion will be meted out. Last week, Sweden’s central bank, the Riksbank, cut its key interest rate from -0.35% to -0.5%. Two weeks ago, the Bank of Japan “unexpectedly” joined the negative interest rate policy (NIRP) movement. Thanks mostly to NIRP, there now exists $7 trillion worth of negative-yielding ...
Market turmoil shows folly of printing for prosperity
Post Date: 2016-02-16 06:29:38 by BTP Holdings
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Market turmoil shows folly of printing for prosperity Posted on February 15, 2016 by Ron Paul Dollars pile as background Last week U.S. stock markets tumbled yet again, leaving the Dow Jones index down almost 1500 points for the year. In fact, most major world markets are in negative territory this year. There are many Wall Street cheerleaders who are trying to say that this is just a technical correction, that the bottom is near, and that everything will be getting better soon. They are ignoring the real message the markets are trying to send: you cannot print your way to prosperity. People throughout history have always sought to acquire wealth. Most of them understand that it takes ...
Bill Gross Gives Thumbs Down to Negative Interest Rates
Post Date: 2016-02-13 20:58:11 by BTP Holdings
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Bill Gross Gives Thumbs Down to Negative Interest Rates Image: Bill Gross Gives Thumbs Down to Negative Interest Rates Friday, 12 Feb 2016 01:04 PM Prominent bond managers have a message for central bankers: negative interest rates won’t work. Bill Gross of Janus Capital Group Inc., Scott Mather of Pacific Investment Management Co. and Tad Rivelle of TCW Group said negative rates won’t stimulate growth and may have adverse consequences for economies and markets. Investors are fleeing bank stocks and other financials as concerns mount that low- and negative-rate policies will prohibit them from making a profit, Gross said. “Markets sense that and they go down,” ...
Simple Janet——The Monetary Android With a Broken Flash Drive
Post Date: 2016-02-13 08:20:12 by Ada
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This is getting just plain nuts. Here is what Janet Yellen said today about the possibility of negative interest rates: In light of the experience of European countries and others that have gone to negative rates, we’re taking a look at them again because we would want to be prepared in the event that we needed to add accommodation.“ The operative words here are “European countries” and “add accommodation”. Yet even a brief reflection on those items demonstrates that Janet is a delusional Simpleton. To adapt Jim Kunstler’s felicitous phrase about Senator Rubio’s 4-Peat incantation during the last GOP debate, our financial system is being led by a ...
Welcome To Obama's Recovery: Carrier Moving 1400 Jobs To Mexico
Post Date: 2016-02-12 22:29:22 by HAPPY2BME-4UM
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In his final state-of-the-union address, President Obama famously accused anyone who dares to question the strength of the US economic "recovery" of "peddling fiction." Shortly thereafter, we learned that the US economy grew at a paltry 0.69% in Q4. Below estimates. Perhaps the most disturbing thing about the state of the economy - well, besides the fact that healthcare spending is essentially driving "growth" - is that the labor market has becoming a waiter and bartender creation machine. That's come at the expense of manufacturing jobs, where skilled workers can actually earn a decent living. Here's what the disparity looks like since 2007: No ...
Central Bank Medicine Now Actually Making ‘Patients’ Sicker
Post Date: 2016-02-12 19:19:59 by BTP Holdings
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Central Bank Medicine Now Actually Making ‘Patients’ Sicker Mike Larson | Friday, February 12, 2016 at 4:20 pm Every doctor in the world knows it: Too much medicine makes patients sicker, not better. But the world’s central bankers have been ignoring that principle. They’ve been cutting rates deeper and deeper into negative territory. And now, not only is that strategy failing to HELP the economy or the markets, it’s actually HURTING them. That’s the crux of this fantastic Wall Street Journal story. It zeroes in on the problem by saying: “Those (negative interest rate) policies, which charge lenders for reserves they keep on deposit with central ...
MOODY'S MOOD? DOOM AND GLOOM
Post Date: 2016-02-12 06:52:02 by BTP Holdings
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MOODY'S MOOD? DOOM AND GLOOM The downturn in commodities has rippled across all asset classes, especially the credit markets. There's no light at the end of the tunnel, either, as Moody's Investors Service sees more negativity ahead. On February 4, Moody's presented its findings in a panel sponsored by the Fixed Income Analysts Society (FIASI), entitled "Commodity Downturn Intensifies." According to Group Credit Officer Mariarosa Verde, the commodity crisis is occurring during a more mature credit cycle. That means growing stress among commodities poses a great danger to the cycle itself. After several years of declining commodity prices, the pace of ...
Why there’s a war on cash; it’s about central banks consolidating power
Post Date: 2016-02-12 06:34:44 by BTP Holdings
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Why there’s a war on cash; it’s about central banks consolidating power Posted on February 12, 2016 by Bob Livingston cash hidden in mattress The war on cash has gone from overt to covert. Having expended all their ammo with Quantitative Easing to infinity and zero interest rate policy (ZIRP), central banks are now looking toward negative interest rates. What are negative interest rates? Right now, banks pay only slightly above 0 percent interest on savings. In reality, that’s already a negative rate of return. Real inflation (not the government’s fiction inflation) of the money supply is running north of 7 percent. So your money depreciates while in savings. You ...
How Big is a Ton of Gold?
Post Date: 2016-02-12 03:14:10 by Pinguinite
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Here's a great site that makes visualizing amounts of gold easy, from one ounce to all the gold ever mined. Great artistry. Click for Full Text!
The Biggest Financial Scam Ever (Hint: It’s Not Madoff)
Post Date: 2016-02-11 20:25:02 by BTP Holdings
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The Biggest Financial Scam Ever (Hint: It’s Not Madoff) By Michael Covel In late 2008, Bernard Madoff shocked the investment world when he confessed the wealth management arm of his business was an elaborate Ponzi scheme. Prosecutors estimated the size of the fraud to be $64.8 billion, based on the amounts in the accounts of Madoff’s 4,800 clients as of November 30, 2008. It was the largest accounting fraud in American history. But the Madoff scandal pales in comparison to the scam I’m talking about today. The government is involved. Universities are involved. Wall Street is involved. The mainstream media is involved. Everyone is in it. It’s such a widespread scam ...
Legit Investment… or a Ponzi Scheme?
Post Date: 2016-02-11 06:38:31 by BTP Holdings
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Legit Investment… or a Ponzi Scheme? Published Thu, Feb 11, 2016 | Martin Hutchinson, Global Markets Analyst How to Tell The Difference: Legit Investment or Ponzi Scheme Last week, more than 20 people were arrested in China over a $7.6 billion Ponzi scheme involving a peer-to-peer (P2P) lender called Ezubao. According to a report in the Financial Times, Ezubao had 900,000 investors, utterly dwarfing Bernard Madoff’s mere 13,500. As this latest example goes to show, we need to be extremely careful when faced with enticing sales pitches for new income opportunities. Unfortunately, it’s damnably difficult to tell whether something unconventional is a Ponzi scheme. Worst of ...
Here Is The Exchange That Left A Stunned Janet Yellen Looking Like A Deer In Headlights
Post Date: 2016-02-11 01:34:10 by HAPPY2BME-4UM
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For nearly one year, Wisconsin Rep. Sean Duffy has been Janet Yellen's nemesis over the ongoing probe into Fed leakage of material inside information via Medley Global and any other undisclosed channels, one which has seen subpoeans be lobbed at the Fed which has been doing everything in its power to stall said probe, and which cost Pedro da Costa his job when he dared to ask questions at a Fed presser that were not precleared by his WSJ "Fed mouthpiece" peers. Today, during Yellen's appearance before the House Financial Services committee, Duffy finally had enough, and in a heated exchange asked Yellen what on legal authority is the Fed exerting privilege to ignore ...
Markets, the Fed, and Asymmetry
Post Date: 2016-02-10 19:23:31 by BTP Holdings
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Markets, the Fed, and Asymmetry By Jim Rickards As the S&P 500 index plunged from 2,128 on July 20, 2015, to 1,880 last Friday (a 12% decline; technically a “correction,” not yet a “bear market”), calls have emerged for the Federal Reserve to “do something” to halt the decline. At a minimum, investors and analysts urge to Fed to desist from their planned path of interest rate hikes to avoid further damage to stocks. These calls were especially strident during the 11% mini-crash from Aug. 18 to Aug. 25, 2015 (following the Chinese shock devaluation of the yuan on Aug. 10), and the separate 11% air pocket from Dec. 29, 2015 to Jan. 20, 2016. (These ...
Are Credit Markets Warning of a Lehman-Style Crisis?
Post Date: 2016-02-10 04:25:54 by BTP Holdings
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Are Credit Markets Warning of a Lehman-Style Crisis? Mike Larson | Tuesday, February 9, 2016 at 4:20 pm Credit. Credit. Credit. That’s where the action is these days (and really, where it has been for the last year). And I’m here to tell you the credit markets look to be pointing toward an increasing chance of a Lehman-style crisis. Hyperbole? Hardly! Take a look at this chart, which shows the cost of insuring against a default on some of the bonds issued by Deutsche Bank (DB) … The cost of insuring Deutsche Bank debt. You can see the cost of credit-default-swap protection is exploding. So-called “CDS” contracts act like insurance against bond defaults, and the ...
Central banks ‘out of ammo’ to reverse economic meltdown
Post Date: 2016-02-09 21:38:54 by BTP Holdings
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Central banks ‘out of ammo’ to reverse economic meltdown Posted on February 9, 2016 by Sam Rolley Economic Crisis Graph Central banks throughout the world have set the global economy on course for a devastating crash. And as the harsh economic reality sets in, the world’s money manipulators are being forced to admit they’re powerless to soften the consequences of their reckless easy money policies. In a recent conversation with CNN Money, investment strategist Ed Yardeni put the troubling economic news as simply as possible, saying: “Major central banks have run out of ammo.” What he means is that central banks like the U.S. Federal Reserve have long ...
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