The headline, fictional, seasonally adjusted number for initial unemployment claims came in at 291,000, which was not materially more than the Wall Street conomist crowd consensus guess of 285,000. That was…
The next Radio Free Wall Street video will be posted Friday. Time is uncertain.
Forget raising rates in 2015. Lee Adler pulls back the paper curtain of Wall Street propaganda to show why the Fed may not realistically be able to raise interest rates for the foreseeable future. Subscribers may click here to open…
Lee Adler pulls back the paper curtain of Wall Street propaganda to ask and attempt to answer the question of whether a bear market is even possible with round robin QE in the era of endless liquidity. He explains what…
The Telegraph’s Ambrose Evans-Pritchard told Lindsay Williams on his nightly business radio program that a new bull market in the US dollar could lead to major financial dislocations worldwide. The program was recorded on Tuesday morning, November 4. You can listen or download here or use the player below.
I’ll tell ya – I was in Philadelphia last Friday night and was amazed by how lively and genuinely urban the Rittenhouse Square area is (especially in contrast to still-determinedly un-urban Washington, D.C.). But as it turns out, if I really wanted excitement, I would have gone to one of the Philly area’s factories – because according to the Philadelphia Federal Reserve’s new monthly survey of regional manufacturing activity, the area’s industry is having one of the biggest blowout months of all time.
‘Punishment Interest,’ as Germans call it with Teutonic precision, becomes pandemic.
Finance is the largest driver of our surging inequality. The “sure thing” of accounting control fraud has paid well for the banksters.
We in the center that cannot hold can only watch as things fall apart.In so many ways, the falcon can no longer hear the falconer. The phrase is drawn from William Butler Yeats’ poem, The Second Coming: Turning and turning in the widening gyr…
Not too much joy for the early openers: Kiwis +0.3%, Aussies -0.4%, Nikkei +0.4% and Sth Korea -0.6%.
In Aussie sectors resources taking a hit: Gold -3%, Miners -1.7% and Materials/Consumer Staples -1.5%.
The US core PPI surprised to the upside yesterday.
Improved pricing power for US firms? Hardly. Did you ever have the feeling of being ripped off at the gas station when oil prices are falling while prices at the pump barely move? Well, it’s not just a feeling.
GS: – The headline PPI rose 0.2% in October (vs. consensus -0.1%). The surprise was entirely due to core prices, which rose 0.4% (vs. consensus +0.1%), while energy prices declined 3.0%. Within the core, the volatile trade services category—which measures retail and wholesale margins—rose 1.5%, adding three-tenths to the core. Drilling down further, a sizable part of the jump in trade services came from a huge 26% month-on-month increase in fuel retail margins (i.e., gasoline stations). While counterintuitive in light of the decline in energy prices on the month, the increase in this category reflects retail prices declining more slowly than wholesale prices. On balance, we would heavily discount this month’s report in light of the volatility in trade services. The core PPI according to the “old methodology”—finished goods less food and energy—increased a more modest 0.1%.
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“Don’t Be Trapped by Dogma – Which is Living With the Results of Other People’s Thinking” -Steve Jobs There is a very strong and popular dogma out there that says, ‘you must own US stocks all the time no matter what.’ It’s really at the heart of the “buy and hold” mantra which is something […]
On any given day, Janet Yellen is busy squinting at 19 essentially meaningless labor market graphs on her “dashboard” looking for evidence that ZIRP is working. Well, after 71 months of zero money market rates—-an unprecedented financial absurdity—-there are plenty of footprints dotting the financial landscape. But they have nothing to do with sustainable jobs. Instead, ZIRP has fueled…