CNBC – Michael Pento: A recession worse than 2008 is coming … Therefore, this inevitable, and by all accounts brutal upcoming recession, will coincide with two unprecedented and extremely dangerous conditions that should make the next downturn worse than 2008. First, the Fed will not be able to lower interest rates and provide any debt-service… Continue reading Will This Be 2008 All Over Again? Differing Views
Factset – Will the S&P 500 Actually Report a Decline in Earnings for Q4 2015? As of today, the S&P 500 is expected to report a year-over-year decline in earnings of 5.7% for the fourth quarter. What is the likelihood the index will report an actual earnings decrease of 5.7% for the quarter? Based on… Continue reading Earnings Season Gets Underway In Earnest, Will It Be A Negative Quarter?
<Click on graphic for larger image> The Wall Street Journal – A Hint of Trouble in European Debt Corporate-bond spreads rise to levels typically seen in recessions “The question is whether that broadens out into a global slowdown affecting other areas of the economy,” he added. Bond markets can’t always be relied upon to predict… Continue reading Trouble in European Bonds
<Click on chart for larger image> Bloomberg.com – The North Dakota Crude Oil That’s Worth Less Than Nothing Flint Hills values North Dakota Sour crude at -$0.50 a barrel Crude prices based on sulfur content and transport costs Flint Hills Resources LLC, the refining arm of billionaire brothers Charles and David Koch’s industrial empire, said… Continue reading Negative Crude Oil!
Bloomberg – Ruble Leads Emerging-Market Decline as Iran Pushes Oil Under $28 Correlation between Brent and ruble close to October high Russia investors watching Iran’s capacity to deliver The ruble slumped the most among emerging-market peers as investors sold the currency of the world’s biggest energy exporter amid concern Iranian crude deliveries will extend an… Continue reading The Ruble Falls With Oil
<Click on graphic for larger image> Bloomberg.com – Hedge Fund Bets Signal There’s More Pain Ahead for Commodities Money managers double net-bearish wagers over two weeks Goldman sees price recovery later in 2016 after supply cuts The commodity meltdown that pushed oil to a 12-year low and copper to the cheapest since 2009 isn’t over… Continue reading Commodity Bearishness
<Click on graphic for larger image> Real Time Economics – The World’s 62 Richest People Hold as Much Wealth as the Bottom 3.5 Billion, New Report Says The richest 62 people in the world last year held the same amount of wealth as the 3.5 billion people who make up the bottom 50%, says a… Continue reading Just in Time For Davos
<Click on chart for larger image> Real Time Econoimics (WSJ Blog) – The 2010 FOMC Laugh Track: Fed Officials Try to Joke About an Uncertain Upturn The 2010 transcripts, released Friday, noted 222 moments of laughter across 10 meetings and conference calls — down from 303 in 2009. (They’re marked by a “[Laughter]” tag in the… Continue reading FOMC Funnies
The Financial Times – François Hollande says France in economic state of emergency François Hollande has unveiled measures to cut persistently high unemployment and salvage his chances of re-election next year, saying France is in an economic “state of emergency”. The measures, which the president detailed in a speech on Monday, involve the creation of… Continue reading Now France Is Having An Economic Emergency
Finanz Und Wirtschaft – Christoph Gisiger: It is very similar to what you get before you slip into a crisis Wall Street veteran Art Cashin warns that bankruptcies in the US oil industry could cause severe stress in the financial system. He believes the rate hike of the Federal Reserve was a mistake. Art Cashin,… Continue reading Art Cashin Is Worried
Financial markets usually bottom when investors panic for the door. We are not yet there. <Click on graphic for larger image>
The Wall Street Journal – China’s Central Bank Injects $15 Billion Into the Market Funds for banks to step up lending to small businesses and agricultural sector China’s central bank said it injected 100 billion yuan ($15.18 billion) of funds into the market via a medium-term lending facility Friday in a bid to keep ample… Continue reading China Fails In Its Attempts To Prop Up Markets