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“The Game Is Rigged”: From Luxurious Lake Como Villa, Finance Professor Admits “QE Adds To Inequality”
“The Game Is Rigged”: From Luxurious Lake Como Villa, Finance Professor Admits “QE Adds To Inequality” While attending the ultra-exclusive Ambrosetti Workshop, University of Chicago finance professor Luigi Zingales took a few minutes to discuss income inequality in an interview with Bloomberg. We were delighted that the irony of being at a luxurious villa on the shores of […]
Iran Oil Minister Rejects Saudi Demand To Freeze Crude Production
Iran Oil Minister Rejects Saudi Demand To Freeze Crude Production In the aftermath of Bloomberg’s surprising Friday report, according to which Saudi Arabia flipflopped on its previous promise that it would freeze its oil output while allowing Iran to grow supply until it hit its pre-embargo peak, instead saying that it would only join the […]
Alice in Wonderland
Alice in Wonderland Everything Is Nonsense If I had a world of my own, everything would be nonsense. Nothing would be what it is, because everything would be what it isn’t. And contrary wise, what is, it wouldn’t be. And what it wouldn’t be, it would. You see? – Alice’s Adventures in Wonderland A public […]
As Turkey Turns Totalitarian, EU Officials Move to Accelerate EU Membership Bid
As Turkey Turns Totalitarian, EU Officials Move to Accelerate EU Membership Bid The EU is turning a blind eye to an opposition crackdown in Turkey that’s polarizing society and complicating efforts to find a political solution to the nation’s Kurdish conflict, Demirtas said in an impromptu interview en route to Brussels. European leaders are expected […]
Alan Greenspan’s Pickled Economy
Alan Greenspan’s Pickled Economy Winter of Discontent Former Federal Reserve Chairman Alan Greenspan resurfaced this week. We couldn’t recall the last time we’d heard from him. But, alas, the old fellow’s in desolate despair. Unexpectedly rising from the crypt: Alan Greenspan Photo credit: AP On Tuesday, for instance, he told Bloomberg he hasn’t been optimistic for “quite […]
The World is Red
The World is Red With a Gloomy Start to 2016, a Bust Seems just Around the Corner Markets have corrected substantially since the beginning of the year as most of the gains of the past two years have been erased. According to Bloomberg, 40 out of the largest 63 markets have dropped over 20%. The image […]
Despite Huge Losses Oil Companies Reluctant To Shut In Production
Despite Huge Losses Oil Companies Reluctant To Shut In Production As energy investors look for reasons to be optimistic, many are keeping close tabs on supply figures. There are some signs that supply is taking a hit from disparate parts of the globe. According to Bloomberg, China might see its output dip by 3 to […]
Softening up the Rubes – the War on Cash Continues
Softening up the Rubes – the War on Cash Continues More Anti-Cash Propaganda by Bloomberg Former NYC mayor Bloomberg is probably one of the worst nannycrats who ever strode upon the US political scene. No-one has done more to take the fun out of New York than this man (we have chronicled the efforts of […]
Germany Unveils “Cash Controls” Push: Ban Transactions Over €5,000, €500 Euro Note
Germany Unveils “Cash Controls” Push: Ban Transactions Over €5,000, €500 Euro Note It was just two days ago that Bloomberg implored officials to “bring on a cashless future” in an Op-Ed that calls notes and coins “dirty, dangerous, unwieldy, and expensive.” You probably never thought of your cash that way, but increasingly, authorities and the powers that […]
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like (“by forcing people and companies to convert their paper money into bank deposits, the hope is […]
Weekly Commentary: Cracks at the Core of the Core
Weekly Commentary: Cracks at the Core of the Core January 15 – Bloomberg (Matthew Boesler): “The U.S. economy should continue to grow faster than its potential this year, supporting further interest-rate increases by the Federal Reserve, New York Fed President William C. Dudley said. ‘In terms of the economic outlook, the situation does not appear […]
Mid-East Massacre: Qatar Crashes, Saudi Stocks Plunge Most Since Black Monday
Mid-East Massacre: Qatar Crashes, Saudi Stocks Plunge Most Since Black Monday Broad middle-east and african stock markets crashed over 5%, erasing any gains back to November 2008 as the carnage from last week continues. From Kuwait (-4.3%) to Qatar (-8%) it was a bloodbath as Saudi Arabia Tadawul Index plunged 5.4% – the most since Black Monday (now down […]
Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle
Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle Last week, we brought you the latest from Puerto Rico’s debt debacle. The commonwealth is desperately trying to restructure some $72 billion in debt while staring down a $354 million bond payment due on December 1. As we discussed at length on Friday, […]
Obama’s Trade Deal Will Bankrupt Canada’s Farming Industry “Overnight”, Expert Says
Obama’s Trade Deal Will Bankrupt Canada’s Farming Industry “Overnight”, Expert Says Earlier this month, in “Forget China: This Extremely “Developed” Country Just Suffered Its Biggest Money Outflow Ever,” we took a close look at Canada, where slumping crude prices are beginning to take a serious toll. As we noted, citing BofAML, Canada’s basic balance – a combination of […]
The Deterioration of America’s Corporate Balance Sheet
The Deterioration of America’s Corporate Balance Sheet I don’t comment frequently on the state of financial markets these days, but the following article from Bloomberg really grabbed my attention. It relates to interest coverage ratios across corporate America, and quite frankly, I was stunned to see how badly balance sheets have deteriorated during the recent pitiful cyclical economic […]
