Submitted by Tyler Durden on 03/05/2016 - 11:20
Famous. Last. Words. "... but I think it's going to be so simple that you pretty soon realize that this is a lot easier and better than having cash"
Submitted by Tyler Durden on 03/05/2016 - 20:25
The Mexican drug cartels are finally meeting their match as a wave of cannabis legalization efforts drastically reshapes the drug trafficking landscape in the United States. It turns out that as states legalize cannabis use and cultivation, the volume of weed brought across the border by Mexican drug cartels dramatically decreases — and is putting a dent in their cash flow.
Submitted by Tyler Durden on 03/05/2016 - 15:20
It is important to remember that in bear markets the strength is to the downside, the violence is to the upside,with counter-trend rallies in bear markets often being the most painful. Markets simply do not go down (or up) in straight lines. The over-reach of central bankers and their failed policies is not news to me. What is news to us, especially after the BOJ's easing in January, is that markets are now either at or very close to losing all confidence in the post-GFC policy response crafted by the Fed/ECB/BOJ et al much earlier in 2016 than even we had expected.
Submitted by Tyler Durden on 03/05/2016 - 19:00
Does this mean the short squeeze - whether ordinary course of business or engineered by banks to push the price of both the S&P and oil higher so that energy companies can sell equity and repay secured bank loans (as we speculated last week) - is over? According to JPM, not just yet, even though by now the weakest hands have clearly tapped out. In fact, since there has been virtually no rotation into ETFs, the most brutal part of the squeeze may be just ahead. Here's why:
Submitted by Tyler Durden on 03/04/2016 - 14:32
This is officially an all-out revolution of the financial system where banks are now actively rebelling against the central bank. In a stunningly real rebuttal of Europe's negative interest rate policy, German newspaper Der Spiegel reported yesterday that the Bavarian Banking Association has recommended that its member banks start stockpiling PHYSICAL CASH.
Submitted by Tyler Durden on 03/04/2016 - 14:05
Legendary billionaire investor Jim Rogers is certain that the U.S. economy will be in recession in the next 12 months. During an interview on BloombergTV, he explained why he had covered his position in the Japanese yen, saying that the nation is "printing a lot" of the currency. Rogers also warned that there is a "100 percent" probability of a recession in the U.S. within a year, and with debt levels very high across the nation, this is a grave concern.
Submitted by Tyler Durden on 03/04/2016 - 10:48
Here is how this "recovery" has looked: since last February, the US has added 360K waiters; in the same time, a paltry 12,000 manufacturing workers have been added as shown in the chart below.