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Venezuela’s Episode of Hyperinflation Reaches New “Highs” – Prices Double Every 17.5 Days
Venezuela’s Episode of Hyperinflation Reaches New “Highs” – Prices Double Every 17.5 Days The most important price in an economy is the exchange rate between the local currency and the world’s reserve currency — the U.S. dollar. As long as there is an active black-market (read: free market) for currency and the data are available, […]
“We Now Have Urban Ebola” In Congo, WHO Warns Of “Potentially Explosive Increase” In Cases
“We Now Have Urban Ebola” In Congo, WHO Warns Of “Potentially Explosive Increase” In Cases Experts fear an “explosive increase” in Ebola cases after an outbreak in Congo entered a “new phase” and spread from the countryside to a city. The BBC reports that Health Minister Oly Ilunga Kalenga confirmed a case in Mbandaka, a […]
Oil Jumps Above $80 For The First Time Since Nov. 2014
Oil Jumps Above $80 For The First Time Since Nov. 2014 Two weeks after Saudi Arabia said it was targeting $80/bbl oil, this morning Riyadh got its wishes early when Brent hit the Saudi target, jumping as much as 1% to $80.18, following the latest drop in U.S. crude inventories and as traders continued to […]
Why The Empire Never Sleeps: The Indispensable Nation Folly
Why The Empire Never Sleeps: The Indispensable Nation Folly Like the case of Rome before it, the Empire is bankrupting America. The true fiscal cost is upwards of $1.o trillion per year (counting $200 billion for veterans and debt service for wars), but there is no way to pay for it. That’s because the 78-million strong Baby Boom is […]
IEA Cuts 2018 Oil Demand Forecast On Soaring Oil Prices
IEA Cuts 2018 Oil Demand Forecast On Soaring Oil Prices Yesterday, we observed that in logical consequence to sharply higher interest rates, US consumer loan demand had slumped in recent weeks, despite increasingly easy credit conditions: an outcome which for many economists is a harbinger to an upcoming recession, as households hunker down and begin […]
Cell Phone Carriers Are Secretly Selling Your Real-Time Location Data
Cell Phone Carriers Are Secretly Selling Your Real-Time Location Data Four of the country’s largest cellular providers have been selling your real-time location information, allowing a Texas-based prison technology company, Securus, to track any phone “within seconds,” without a warrant. The system uses data sold by AT&T, Sprint, T-Mobile, Verizon and other carriers – who provide it through an intermediary called […]
WHO Prepares For “Worst Case” As Congo Ebola Outbreak Spreads
WHO Prepares For “Worst Case” As Congo Ebola Outbreak Spreads In the week since we first noted the new outbreak of Ebola in the Democratic Republic of Congo, the number of cases has risen by 50%, and The World Health Organization has now said it is preparing for “the worst case scenario.” The WHO has […]
Argentine Peso Collapses To New Low Despite Massive Intervention
Argentine Peso Collapses To New Low Despite Massive Intervention Update: *ARGENTINE CENBANK SAID TO OFFER $5B IN PESO MARKET AT 25/USD – That’s 10% of reserves!! * * * The Argentine Central Bank spent over $1 billion buying pesos on Friday (and another billion to buy short-term bonds back) to support the collapsing currency… But… […]
Leaked Doc Reveals White House Planning “Regime Change” In Iran
Leaked Doc Reveals White House Planning “Regime Change” In Iran It appears Rudy Giuliani wasn’t lying. Just a few days after the former NYC mayor and latest member of President Trump’s unexpectedly let it slip that “we got a president who is tough, who does not listen to the people who are naysayers, and a […]
Israeli Airstrike In Syria Was “Most Extensive Attack In Decades”
Israeli Airstrike In Syria Was “Most Extensive Attack In Decades” In what is now being described as the “most direct confrontation between Israel and Iran in decades,” Israel exchanged fire with Syrian and Iranian forces during a late-night showdown that ended early Thursday morning. The exchange came days after Israel called up reserve troops to […]
Australia Bans Payments Over $10k, Unleashes “Mobile Strike Teams” In War On Cash
Australia Bans Payments Over $10k, Unleashes “Mobile Strike Teams” In War On Cash As Australia struggles to maintain its unprecedented 104-quarter-long streak of uninterrupted economic growth, lawmakers are intensifying the country’s “war on cash” – ostensibly part of a crackdown on “criminal gangs” that are smuggling drugs and/or people into the island nation and companies […]
In Major Escalation, Israel Unleashes Airstrikes, Shelling On Syria In Retaliation For Alleged Iran Attack
In Major Escalation, Israel Unleashes Airstrikes, Shelling On Syria In Retaliation For Alleged Iran Attack Summary: The situation is fluid to say the least, but as far as we can tell this is what has happened tonight so far: 1. Sirens go off in Golan Heights 2. Loud explosions heard Then blame-game begins… 3. AP: […]
Oil Surges, 10Y Yield Back Over 3%, Futures Jump In Iran Deal Fallout
Oil Surges, 10Y Yield Back Over 3%, Futures Jump In Iran Deal Fallout For those curious what the fallout from the US withdrawal from the Iranian nuclear deal looks like in the capital markets, the answer is as follows: higher US stock futures, a stronger dollar (at least initially, the greenback has since turned slightly […]
EM FX Plunges: Argentine Peso Re-Crashes, Turkish Lira Tumbles To Record Low
EM FX Plunges: Argentine Peso Re-Crashes, Turkish Lira Tumbles To Record Low Just hours after Fed Chair Jay Powell implied that ’emerging markets are on their own’, EM FX is re-collapsing… with Argentina (despite a 1275bp rate hike) and Turkey both crashing to new record lows… “There is good reason to think that the normalization […]
Fed Chair Powell To Emerging Markets: You Are On Your Own
Fed Chair Powell To Emerging Markets: You Are On Your Own Over the weekend, when commenting on the ongoing rout in emerging markets, Bloomberg published an article titled “Rattled Emerging Markets Say: It’s Over to You, Central Bankers.” Well, overnight the most important central banker of all, Fed Chair Jay Powell responded to these pleas […]
