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Articles by Lmo Mutton
Where Are The Jobs?
Submitted by Charles Hugh-Smith of OfTwoMinds blog, Maintaining the status quo of red tape, high taxes, high junk fees and indifference to small business realities guarantees decline and failure. It's well known that millions of the jobs counted in employment statistics are part-time or low-paying "gig economy" self-employment. Over 9 million self-employed workers make less than $10,000 per year, and 5.5 million earn less than $5,000 per year.
Mario Draghi Explains Why 'Buying Corporate Bonds As Well' Will Work This Time - ECB Press Conference Live Feed
With rates left unchanged - deep in NIRP-land - amid an increasingly fragile banking system (see Italian bank stocks), we expect ECB chief Mario Draghi to reassure an anxious public how well QE is working (despite weak growth and tumbling PMIs), how great negative rates are for stimulating 'something' despite inflation's drift lower, and how his about-to-be-launched corporate bond buying bonanza will really solve the problems of the world (by enabling firms to lever up even more and buyback...
ADP Employment "Moderates" As Manufacturing Jobs Fall Again
Printing a perfectly as-expected 173k rise in jobs for May, ADP Employment change offers hope for tomorrow's payrolls to give The Fed the go-ahead for a rate-hike. This is still the second lowest print since last September as manufacturing (and goods-producing) jobs fell once again.
Ignoring This "Smart Money" Indicator Could Cost You
The financial media want you to believe that stocks have been doing great. However, stocks have gone nowhere since the end of March. If you want to include the collapse at the beginning of the year as well as the massive short-covering rally, you could argue stocks have gone nowhere since December 2015. The whole rally feels “suspect” to say the least. If this is the start of another bull market, why have financial institutions been DUMPING stocks for 17 weeks straight?
Turkish Court Convicts Former Miss Turkey Of "Insulting The President"
Hundreds of Turkish academics are waiting to find out whether they will be prosecuted or sacked for spreading “terrorist propaganda”, after they signed a petition calling for violence to end in Turkey’s southeast, where government forces have been fighting Kurdish separatists.
Wage Growth Dream Crushed - Weekly Earnings Rise Weakest In 18 Months
If the labor market is "tight", and jobless claims are at 42 year lows... And the 0.5ppt point rise in the labor force participation rate is "heartening"... Then please Dear Janet, oh arbiter of all things labor-ic, explain - after exuberant hope and hype during 2015 that escape velocity was coming - why real average weekly earnings growth just collapsed to just 0.6%, the weakest since August 2014?
Why Hillary Clinton Cannot Beat Donald Trump
Instinctively, Hillary Clinton has long seemed by far the more electable of the two Democratic candidates. She is, after all, an experienced, pragmatic moderate, whereas Sanders is a raving, arm-flapping elderly Jewish socialist from Vermont. Clinton is simply closer to the American mainstream, thus she is more attractive to a broader swath of voters.
Oil Market Analysis Feb. 23, 2016 (Video)
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Obama Scrambles To Create "New ISIS Narrative" After Putin Embarrasses Washington
One of the most amusing things about Russia’s headlong plunge into Syria’s five-year conflict is the extent to which it effectively represented Moscow calling time on Washington’s strategy of seeking to bring about regime change in the Mid-East by intentionally destabilizing otherwise strong (if not always benign) governments.
Abenomics Is Dead - Japanese Data Collapses Across The Board
With recent JPY strength not helping, last week ended on a down-note for Japan as its jobless rate ticked up from 3.1% to 3.3% (the biggest rise since January) and Household spending collapsed. However, as the last week of the year begins, things have not improved as a double whammy of awfulness just hit the shores of Abe's nation with retail sales (worst since the tsunami) and industrial production ugly and missing across the board.
What If Jesus Had Been Born 2,000 Years Later In The American Police State?
Submitted by John Whitehead via The Rutherford Institute, The Christmas narrative of a baby born in a manger is a familiar one. The Roman Empire, a police state in its own right, had ordered that a census be conducted. Joseph and his pregnant wife Mary traveled to the little town of Bethlehem so that they could be counted. There being no room for the couple at any of the inns, they stayed in a stable, where Mary gave birth to a baby boy.
Key Global Equity Index Back On The Precipice
An index that tracks the world’s largest stocks is testing its post-2009 uptrend…again. The “markets move at random” crowd generally has a difficult time with our posts wherein we lay out price movement scenarios based upon charting analyses. Any reluctant concessions on their part typically center around the “self-fulfilling prophesy” notion. That is, technical analysis only works because so many market participants are watching the same chart levels that their effectiveness is “self-fulfilling”.
"Desperate" Novice Trader May Be Suicidal If He Didn't Cover Short: KBIO Squeeze Goes "Full Volkswagen"
Our post yesterday about the "devastated" novice E-trader Joe Campbell, who went to bed on Wednesday night with a $18K short position in the biotech pennystock KaleBios, only to wake up with a $106K margin call when overnight insolvent KaleBios announced it would get a last minute rescue by the infamous Martin Shkreli, promptly went viral. And, as was to be expected, many were curious just how Joe - who swore he would never again short low float stocks again - had done in his GoFundMe campaign.
America's Top 10 Fears
While nearly a decade ago, Americans celebrated the arrival of "hope and change", since then "hope" (not to mention "change") has been all but eradicated (if only for the vast majority of the population), and has been replaced with an emotion that is its polar opposite. Fear. Fear of government corruption (which we were delighted to find in the top spot), fear of terrorist attacks, fear of the NSA, fear of ID theft, fear of cyberterrorists, and even fear of economic collapse...
Economic Collapse Full Frontal: The Brazil Case Study
To be sure, emerging markets are for the most part an across-the-board trainwreck right now, as a confluence of factors including still-depressed Chinese demand, sluggish global growth and trade, depressed commodity prices, and a looming (supposedly) Fed hike have conspired to push emerging economies from LatAm to AsiaPac to the brink.
ECB Confused How To Mask Losses On Negative Yield Bond Purchases
As we noted last week, Mario Draghi’s move to purchase €1.1 trillion in EGBs at 124% of par may have mitigated market jitters regarding the ECB’s ability to source enough bonds to meet PSPP monthly asset purchase targets, but it also virtually guarantees that the central bank (and perhaps some eurozone NCBs) will be forced to operate from a negative equity position should sovereign spreads blow out.
Fire Burns After Another Oil Freight Train Derails, This Time In Canada
In the early hours of this morning, yet another oil-carrying freight train derailed. Canadian National Railways says a fire continues to burn after a train carrying crude oil derailed in Northern Ontario (near Gogama). As yet no injuries have been rported and a team of specialists are on the scene. This is the fourth derailment for CN Rail in Northern Ontario this year.
The Untouchables: Government Employee Can't Be Fired Despite Watching 6 Hours Of Porn A Day At Work
At the Environmental Protection Agency (EPA), red tape is preventing the removal of a top level employee accused of viewing porn two to six hours a day while at work, since 2010. Even though investigators found 7,000 pornographic files on his computer and even caught him watching porn, he remains on the payroll. Five years ago, the General Services Administration (GSA) spent more than $800,000 on a lavish conference in Las Vegas.
They Are BTFATH, Are You?
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