Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by OC Sure
More Bad News For Millennials, Who Face "Great Depression" In Retirement
Americans in their 20s and 30s are facing a retirement crisis that could plunge them back into the Great Depression, Blackstone President and COO Tony James said Wednesday.
A "Heroic" Ben Bernanke Blames Congress For Poor Economic Recovery
When the world was on the verge of collapse in 2008 thanks in no small part to the post dot-com bubble policies of his predecessor, the former Fed chair wants you to know that he did what was needed to save the world and he will tell you all about it in his new memoir “The Courage To Act”, which can be yours on Kindle for the weird price point of just $16.05 (or, in unconventional monetary policy terms, about a QE millisecond).
Lawrence Wilkerson: "The American 'Empire' Is In Deep, Deep Trouble"
Former US army colonel and Chief of Staff for Colin Powell, Lawrence Wilkerson unleashed a most prescient speech on the demise of the United States Empire. As Naked Capitalism's Yves Smith notes, Wilkerson describes the path of empires in decline and shows how the US is following the classic trajectory. He contends that the US needs to make a transition to being one of many powers and focus more on strategies of international cooperation.
Chinese Cash Flow Shocker: More Than Half Of Commodity Companies Can't Pay The Interest On Their Debt
Earlier today, Macquarie released a must-read report titled "Further deterioration in China’s corporate debt coverage", in which the Australian bank looks at the Chinese corporate debt bubble (a topic familiar to our readers since 2012) however not in terms of net leverage, or debt/free cash flow, but bottom-up, in terms of corporate interest coverage, or rather the inverse: the ratio of interest expense to operating profit.
"Nothing's Safe" Passport's Burbank Warns "The Liquidity Of Everything Is Being Taken Down"
Having warned that "we are on the precipice of a liquidation in emerging markets like the fourth quarter of 1997," Passport Capital's John Burbank sits down with RealVisionTV to discuss why "the Fed would eventually be forced into a fourth round of quantitative easing to shore up the economy." Being among 2015's best performing hedge funds, successfully navigating this turmoiling unwind of the Fed's efforts to "mean-revert" the world's assets back to normal, Burbank concludes, "nothing's...
Of Greater Fools, Bigger Liars, & A Society In Decline
Submitted by Raul Ilargi Meijer via The Automatic Earth blog, The moment we heard that John Boehner would resign, the first thing that came to mind was: the next one will be a Greater Fool and a Bigger Liar. For all of his obvious faultlines, Boehner is human. As was evident for all to see Thursday when the Pope -Boehner’s as Catholic as JFK and Jesus Christ- came to see ‘him’ in ‘his’ Senate. Even smiled reading that the Pope had asked Boehner to pray for him.
From ZIRP To NIRP - Accelerating The End Of Fiat Currencies
The sudden end of the Fed’s ambition to raise interest rates above the zero bound, coupled with the FOMC’s minutes, which expressed concerns about emerging market economies, has got financial scribblers writing about negative interest rate policies (NIRP). Coincidentally, Andrew Haldane, the chief economist at the Bank of England, published a much commented-on speech giving us a window into the minds of central bankers, with zero interest rate policies (ZIRP) having failed in their objectives.
The Colossal Failure Of Central Bank 'Trickledown'
With global economic perceptions finally creeping toward financial perceptions (not stocks) despite the enormous and mostly ongoing “stimulus” almost everywhere, it is useful to review once more the assumed general mechanisms. Step 1 is really the most basic and traditional element of central banking, as liquidity, broadly speaking here, is currency elasticity in its more modern format. Increasing liquidity is supposed to lead to Step 2, more credit/debt.
PBOC Devalues Yuan For 3rd Day As President Xi Reminds The Fed "China's Economy Is Stable" - Live Feed
Following last night's ADB China growth downgrade, and warnings from The IMF's Lagarde that a "China slowdown is a major risk to the global economy," the weakness seen in Europe and US is continuing across AsiaPac tonight ahead of China's much-watched PMI data (though we are not sure why - since no "bad news" excuse is needed to enable super-easy policy). With Xi in the US, one would imagine a 'beat' for PMI will be engineered, although industrial metals are extending their losses.
Top UK Hedge Fund Manager Admits: "Central Banks Made The Rich Richer"
With each passing day, the lies and fictions we have been exposing since 2009 - from HFT, to the truth about QE, to the ultimate downfall of central banks through their own actions - are being debunked ever faster, called out and/or confirmed by increasingly more "serious" people, those who have benefited and been protected by the lie itself.
"What Does The Fed Know That We Don't" - Bridgewater's Ray Dalio Answers
In the aftermath of last week's FOMC "dovish hold" disappointment, it is not only the Fed that has seen its credibility crushed; so have plain-vanilla tenured economists and Wall Street strategists. Recall that it was on August 13, one month before last week's FOMC meeting, when 82% of economists said the Fed would hike in September. Post-mortem: more than four out of five economisseds were, as always, wrong.
Summing It All Up (In 1 Sad Cartoon)
“It is true that income inequality has kind of gotten worse, but you can take the compensation of every CEO in America and make it zero and it wouldn’t put a dent into it. What really matters is growth. It’s not right to say we’re worse off … If you go back 20 years ago, cars were worse, the air was worse. People didn’t have iPhones.”
Going Back To What Works: Gold Is Money Again (Thanks To Utah)
As of today you really can pay your taxes, your credit cards, your mortgage, shop at Costco, and buy your groceries without so much as a bank account while using sound money. The fact that Texas announced that it withdrawing its gold from Manhattan and is creating a state gold depository generated a good deal of interest because there would also be a way to transfer gold to others via said depository.
Guest Post: Safe Assets In A World Gone Mad
Gold and silver are good assets to hold to insure the preservation of EXCESS wealth but there are other assets that are even more valuable longterm. Those things that can be used to produce a product are the elements that can be used to leverage your time, resources and talents to produce wealth. The ability to produce excess is the basis of the need for wealth preservation.
How The World Spends
Have you ever wondered how much money Russians spend on alcohol and tobacco compared to the rest of the world? Or how much households in Saudi Arabia allocate to recreation? Today’s data visualization from The Economist shows how much people in households around the world allocate to different expenses such as food, housing, recreation, transportation, and education.
"Dude, You're Getting A Degree"
"I think College is good, therefore the state should subsidize it." - People who want to help. Why there's a student loan bubble and how it will end.
"We Will Have A Downturn", Dalio Warns, Return To QE Inevitable
Last week, we took a look at why zen master Ray Dalio’s All Weather fund has had a tough time riding out the series of violent thunderstorms that have shaken the market of late.
British Navy Admits "It Was Us, Not The Russians" That Damaged Irish Trawler In April
Back in April, European and US officials were quick to blame "The Russians" when a British fishing trawler's nets became entangled in a submarine. The incident, one of many, was rapidly escalated as further excuse to increase NATO forces across Europe and as evidence of Russia's aggression. There's just one small problem...
33 Fascinating Facts On U.S. Currency
But the aforementioned weasel words provide the best of both worlds: if commodities rally, then he can point to "nailing the bottom" with this interview. On the other hand, if commodities continue to...
Happy "$15 Minimum Wage" Labor Day From McDonalds
But the aforementioned weasel words provide the best of both worlds: if commodities rally, then he can point to "nailing the bottom" with this interview. On the other hand, if commodities continue to...
In Gold We Trust - 2015 Edition
Monetary history, staggering mountains of debt, demographic problems, metrics relevant to the gold market, central bank debauchery and currency debasement in all their terrible glory, and even the beer price of gold – the latest Incrementum "In Gold We Trust"chartbook has it all... There has been an astonishing synchronization between equity markets and the gold-silver ratio until 2011.
Japan's Nikkei Flash-Smashes 400 Points Higher In Milliseconds After Abenomics Gets Three-Year Extension
Whether it is due to thin holiday liquidity, due to the BOJ intervening just ahead of its usual time, because Japan's "legendary" Twitter trader "CIS" just went bullish (again), because prime minister Abe just learned he would be reinstalled as head of his ruling LDP party because no challenger had emerged unleashing three more years of unchallenged Abenomics, because Japan's Q2 GDP was just revised modestly higher (to a less negative number) or just because this is how the New Normal rolls,...
Why Economics Matters
Submitted by Jeff Deist via The Mises Institute, This article is a selection from a June 19 presentation at a lunchtime meeting of the Grassroot Institute in Honolulu at the Pacific Club. The talk was part of the Mises Institute’s Private Seminar series for lay audiences. To schedule your own Private Seminar with a Mises Institute speaker, please contact Kristy Holmes at the Mises Institute.
China's Great Wall Of Worry - Goldman Warns China Options Signal Caution Ahead
China has been the epicenter of recent market concerns as global markets focus on China's growth trajectory. Equity markets have been hit hard. The Shanghai Composite is down -43% since its peak on June 12th; with -21% of that down-move coming over the last five trading days. HSCEI is down -32% since June 12th, -12% over the past week. On August 25th the PBOC announced a series of moves including lowering the benchmark lending and deposit rate by 25 bps and the reserve requirement ratio by 50 bps.
Japan's Kuroda Denies Existence Of Currency War As China Devalues Yuan To Fresh 4 Year Lows, Injects CNY150bn Liquidity
The night began much like any other morning in Asia - with pure comedy gold from Japanese leadership with BOJ's Kuroda saying he is "not concerned about currency wars, there is no currency war," adding that he has "no plans for further easing." That coincided with a drift lower in Japanese stocks from the US close - but mots of Asian stock markets were green buoyed by America's victory against malicious sellers for the first time in a week.
Does Capitalism Cause Poverty?
Capitalism gets blamed for many things nowadays: poverty, inequality, unemployment, even global warming. As Pope Francis said in a recent speech in Bolivia: “This system is by now intolerable: farm workers find it intolerable, laborers find it intolerable, communities find it intolerable, peoples find it intolerable.
Is The New U.S. 'Law Of War Manual' Actually ‘Hitlerian'?
Submitted by Eric Zuesse, author, most recently, of They’re Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of Christ's Ventriloquists: The Event that Created Christianity Is the New U.S. 'Law of War Manual' Actually ‘Hitlerian'?
An Ex-Con's Advice To A Libor Rigger
A real person - or at least he looks real - was found guilty by a jury of conspiring to manipulate LIBOR. Then, something even stranger took place. This real person - Tom Hayes, or "Rain Man" as he was affectionately known in rate-rigging circles - was sentenced to 14 years in jail for his role as the supposed "connective tissue" that held the global fix fixing infrastructure together.
"The Top's In" David Stockman Warns Of "Epochal Deflation"
The truth hurts... especially permabullish CNBC anchors. But when David Stockman explained why "the top is in," and warned that the world is overdue for an "epochal deflation, like nothing it has ever seen," one should listen.
Dropping "The Bomb" On Hiroshima And Nagasaki Was Never Justified
August 6th and 9th of 2015 mark the 70th anniversary of the U.S. dropping two atomic bombs on Hiroshima and Nagasaki. This was the first and only time a state used a nuclear device on cities (or civilians) of another state. Some conservative estimates put the immediate death toll of the two bombs at 200,000 people. This is more than the total number of American soldiers killed in the Pacific front of World War II.
Today's Anti-Capitalists Ignore The Fundamental Problems Of Socialism
Submitted by Jonathan Newman via The Mises Institute, Anti-market and pro-socialist rhetoric is surging in headlines (see also here, here, and here) and popping up more and more on social media feeds. Much of the time, these opponents of markets can’t tell the difference between state-sponsored organizations like the International Monetary Fund and actual markets.
The Great FreedomFest Debate Was Like Watching Tom and Jerry
With apologies to his fans, Jerry is an evil little mouse who constantly pesters Tom the Cat. Tom tries and tries, but cannot seem to overpower someone who is a fraction of his size and strength. Watching Stephen Moore attempt to debate Paul Krugman was like that. The “economics” of Krugman is Keynesian economics. It consists of central planning your life by force, because market failure. And Krugman repeated this phrase “market failure” several times.
This Is Why The Euro Is Finished
Submitted by Raúl Ilargi Meijer of The Automatic Earth This Is Why The Euro Is Finished The IMF Debt Sustainability Analysis report on Greece that came out this week has caused a big stir. We now know that the Fund’s analysts confirm what Syriza has been saying ever since they came to power 5 months ago: Greece needs debt relief, lots of it, and fast. We also know that Europe tried to silence the report. But what’s most interesting is that this has been going on for months, as per Reuters.
The Mysterious "Massive" Seller Who Flash Crashed Gold In 2014 Has Finally Been Revealed
Back in late 2013 and early 2014, the gold (and silver) market was stunned by a series of massive, unprecedented "stop" or "velocity logic" sales which sent the price of the precious metal crashing so furiously they halted the entire gold futures market anywhere between 10 and 20 seconds.
SEC Reads Zero Hedge, Launches Crack Down On Activist Hedge Fund "Idea Dinners"
In the summer of 2014, the biggest activist hedge fund story on anyone's lips was whether Bill Ackman had broken securities laws when he had accumulated a massive $3 bilion stake, or roughly 9.7% of the outstanding stock of Allergan (using leverage via call options), in advance of Valeant's announcement it would launch a hostile offer for Allergan.
May Consumer Spending Has Biggest Annual Drop Since Great Financial Crisis, Gallup Survey Finds
It may not have the clout of the official monthly Dept of Commerce Retail Sales report not due out for two more weeks, but in retrospect considering how many credibility issues with seasonal adjustments government data has had in recent months, the Gallup Consumer Spending report may have become far more realistic than official government data.
In Shocking Move, Goldman Slashes America's Long-Run "Potential GDP" From 2.25% To 1.75%
While Ben Bernanke will never agree that global economic growth has ground to a halt as a result of his monetary policies, a phenomenon which in the past year has been dubbed "secular stagnation" by the very serious weathermen (and will certainly never admit the reason for such stagnation), with every passing month one thing becomes clear: there can be no growth and certainly no prosperity for the broader population with a $200 trillion (and rising at over $10 trillion per year) overhang in...
Caught On Tape: Self-Driving Car Ploughs Into Journalists
While there is much debate whether the latest and greatest Apple fad is a dud... ... Apple has, in case the fading wearables mania is the former, a Plan C: a self-driving car.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with OC
Contact OC, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack