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Articles by Jonathan Equine.
Financial Terrorists On The Road - Krugman And Rogoff Peddling Toxic Advice
Here are a couple of reasons why Keynesian economists are truly a menace in today’s bubble ridden and debt-impaled world. It seems that both Harvard’s Kenneth Rogoff and Princeton’s Paul Krugman are on the global advice circuit, peddling what amounts to sheer snake oil to desperate politicians and policy-makers who have already buried themselves - so far to no avail - in unprecedented waves of fiscal and monetary “stimulus”. But never mind.
Copper & Crude Crash To 4 Year Lows
With all eyes focused on the malls around America, we thought a glimpse at two of the most important commodities to the world economy would provide food for thought... But you can still get a bargain stock at record highs...
Explosive Excrement Topples Building In China, 15 Injured
Despite the best efforts of central planners, shit still happens (even in China). In an 'Onion-esque' story, China.org reports a cesspool filled with excrement exploded in a central Chinese city, injuring 15 residents and toppling a building on Saturday, police said. But this is not the only excrement-enthused event in China... A cesspool filled with excrement exploded in a central Chinese city, injuring 15 residents and toppling a building on Saturday, police said.
"Gold Is Money And Nothing Else" - JP Morgan's Full December 1912 Testimony To Congress
In December 1912, no lessor man than J.P.Morgan testified to Congress to "justify Wall Street," during investigations over alleged manipulation and collusion. The transcript reads like it could have been given yesterday (as nothing ever changes) but at its heart the banker laid out 33 "Morgan Epigrams" which appear - in the ensuing 102 years - have been lost to greed and arrogance...
The Levered Canary In The Coalmine: High Yield Is Flashing A "Sell Signal", Says Barclays
The growing divergence between equity and credit markets this year have seldom been far from our pages (especially how, over many cycles, credit has led and stocks followed at trend turns), and now it appears Barclays also recognizes this fact. As they note, in 2007, as hints of the financial crisis were unveiled, spreads in the high yield market increased sharply. Meanwhile, the equity market climbed to a new record high.
Obama Nominee, Antonio "Tax Inversion" Weiss Discloses Up To $203 Million In Assets
It appears Lazard's investment banker Antonio Weiss' "help" in tax inversions is not 'unpatriotic' enough to scare President Obama off - as we suspect Weiss' bundling and donating help more than offset any ethical challenges.
David Kotok: James A. Lebenthal (June 22, 1928-November 14, 2014)
There are iconic names in nearly every discipline and specialty. The municipal bond world just lost one. James Lebenthal devoted his long professional career to Munis. He was the center point of a three-generation effort in the Muni corner of the financial markets.
"Irish Eyes Are Smiling" But Should They Be?
Ireland has been basking in the spot of an unusual sunshine this October. The cold spell, that normally takes the island over at the end of the month and into early November, coating it in a wet blanket of wind-swept and never ending rains was nowhere to be seen, replaced by the strangely regular appearances of the sun, blue skies and sight of the still leafy, colour-turned trees. Similarly, the markets have been kind to Ireland too.
Russia To Have SWIFT Alternative By May
As the West (US and its pressured allies) attempt to 'isolate' Russia more and more, the inevitable cornering further and further incentivizes Putin to develop alternatives to the status quo. In the past, western sanctioners have sabre-rattled cutting off Russian from SWIFT - the international inter-bank payment system - as a next step in squeezing the oligarchs into submission (though 'independent' SWIFT distanced itself from those calls).
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