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Articles by Central Bankster
Republican National Convention Explained (In 1 Cartoon)
Fears surrounding Brexit saw gold rally to the recent highs of $1,375. However, as the uncertainty created in the wake of the "Leave" vote wanes, global equity markets have rallied, helped in no small part by surprisingly strong employment numbers from the U.S.
Charm City: It’s Not About Freddie Gray, but Baltimore’s Economic Plunge
Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. After today’s acquittal of Lt. Brian Rice in the ongoing Freddie Gray saga, lead prosecutor Marilyn Mosby is batting a perfect 0-4. The three previous defendants were similarly acquitted, with two (and perhaps three) more officers to take the stand in the future. It appears that Marilyn Mosby’s prosecutions have been politically motivated and without foundation.
Japanese 10Y Yield Hits Zero For First Time Ever, Yen Strongest Since 2014, Stocks Crash
Following earlier comments from yet another Japanese talking head that deflation will be fixed any day now, the Japanese bond curve continues to collapse with yields hitting record lows across the entire spectrum. Most notably, 10Y JGBs - which were trading 24bps before BoJ NIRP - just traded with a 0bp handle for the first time ever, ready to join Switzerland as the only nations with negative rates at 10Y.
These Are The Top 20 Companies By Market Cap Over The Past Decade
There are many observations to be made about the dramatic shifts shown in the chart below which demonstrates the top 20 companies by market cap over the past decade, but what, to us, stands out the most are two things: after a decade of being either the world's biggest or second largest market capitalized company, Exxon has tumbled to 5th spot, something it did not do even during the peak of the financial crisis; and after five years of being in the top spot, it is time for someone to finally...
The Fukushima Wasteland: "Terrifying" Drone Footage Of Japan's Abandoned Nuclear Exclusion Zone
While the world has had decades of opportunities to observe nature slowly reclaiming the consequences of human civilization, particularly at the site of the original nuclear disaster, Chernobyl, there has been far less media coverage for obvious reasons, of that other nuclear disaster, Fukushima, where as we reported last night, one year after giving up on its "ice wall" idea Tepco has renewed the strategy of encasing the radioactive sarcophagus in an ice wall.
Gulf Markets Melting Down: Saudi Arabia Plunges 7%, Dubai Sold
Following the end of a horrible week for petroleum importers (not to mention shale producers) despite WTI briefly dipping under $40 (wasn't this supposed to be great news for the US economy?) we have the start of a just as ugly week for the Persian Gulf oil exporters, whose Sunday market open can be described as a continuation of last week's broad risk carnage, and where Saudi Arabia, until recently the region's best performing market, is now down 10% for the year and down 30% compared to 12...
7 Million People Haven't Made A Single Student Loan Payment In At Least A Year
Perhaps it’s all the talk about across-the-board debt forgiveness or maybe the total amount of outstanding student debt has simply grown so large ($1.3 trillion) that even those with no conception of how much money that actually is realize that it’s simply never going to paid back so there’s no point worrying about, but whatever the case, the general level of concern regarding America’s student debt bubble doesn’t seem to be at all commensurate with the size of the problem.
The Demands For Another Fed Bailout Have Begun
Back in August 2007, just as the quant funds had their first taste of what the upcoming collapse would look like and when the Fed for the first time realized that the subprime woes were "not contained" despite what Ben Bernanke had promised previously to Congress, financial comedy TV's best known mascot, Jim Cramer had a meltdown on CNBC following Bear Stearns' CFO admission that the fixed-income market turmoil was the worst in 22 years, ranting how the Fed "knows nothing" and how it should...
US Equity Futures Nosedive After China PMI Plunge
It appears bad news in China is "bad news" for everyone. With Chinese authorities already in full liquidity spigot-mode, the fact that China PMI for August collapsed to its lowest since March 2009 strongly suggests that - unlike every talking-head's proclamation - a crashing stock market does (whether reflexively or not) impact the real economy.
There's More To Come - Offshore Yuan Signals Further Devaluation Tonight
Despite 2 significant interventions to stall what is likely an avalanche of wrong-way carry trade unwinds (or perhaps to stop the boat swinging to the other side too much), offshore Yuan has continued to depreciate since China closed and now implies another 1% devaluation is looming (having been up to a 2.6% discount earlier in the day). PBOC intervened in CNY overnight... But CNH remains adamant that more devaluation is coming... CNH nailed it overnight... will it be right again tonight?
China Plunges 13% Since July Despite The Following 24 Market Manipulation Measures
"The greatest trick the central planners ever pulled was convincing the world omnipotence existed..." until now! Since July 1st, China has unleashed at least 24 separate "measures" aimed purely and simpy at manipulating the stock market higher than prevailing market forces would warrant... And the result is... A 12.5% decline exposing the un-omnipotence of central planners when the fecal matter strikes the rotating object. Average: Your rating: None Average: 5 (1 vote)
Cop Acquitted In Murder Of Kelly Thomas Just Arrested For Domestic Violence
Manuel Ramos, 41, the former Fullerton police officer who was ultimately acquitted after being tried for the beating and killing of Kelly Thomas, has been arrested once more—this time for domestic violence. Thomas—an unarmed, mentally-ill homeless man—was brutally beaten to death by Ramos and two fellow officers in the summer of 2011. Two of the officers—Ramos, as well as Jay Cicinelli—were tried and acquitted of the murder. From the beginning, the case received nationwide coverage.
Which Countries Have The Highest Default Risk: A Global CDS Heatmap
We hardly need to expound on Greece's near-death economic state: if anyone has missed the surreal tragicomedy of the pas 5 years all we can say is we envy you. Of all countries around the globe, if there is one nation where everyone by now knows is, or should have defaulted long ago, it is the Hellenic Republic.
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