Tuesday, February 9, 2016

Deutsche Bank Is Scared: "What Needs To Be Done" In Its Own Words

"So back to the  original question WHAT NEEDS TO BE DONE. Simple?  Recognize the problem. It is not oil, it is not in the banks..it is a run on central bank liquidity, especially dollar based and there needs to be much more ($) liquidity.... Cash shd be charged interest -- put the micro chip in large denom notes/tax cash withdrawals.. encourage spending not saving."

WTI Crashes To $27 Handle As US Energy Credit Risk Spikes Above 1500bps To Record Highs

BTFD? Because nothing says stability like record high credit risk...

Woeful 3 Year Auction: Tailing Yield, Plunging Bid To Cover, Sliding Indirects

One would imagine that in a market as skittish for risk as this one, that selling $24 billion in 3 Year paper would be if not as easy as pie, then as simple as last month's issuance, when not a cloud was visible when the Treasury sold 3 Year paper. One would be wrong, because moments ago the US Treasury managed to sell precisely that amount in February 2019 paper, however at a notable concession to the When Issued, with the high yield of 0.844% tailing the When Issued by 0.7 bps, while the Bid to Cover of 2.742 was the lowest since July of 2009.

World Equity Market "Wealth" Crashes $6 Trillion Below 2007 Highs

Global equity market investors have lost a stunning $16.5 trillion of their newfound CB-fueled "wealth" in the last six months. This has erased half of the gains from the 2011 lows (but of course leaves all the debt created still in place). However, what is perhaps more troubling given the unprecedented money-printing since the last crisis peak, is that global equity market "wealth" is now down 10% from its November 2007 prior highs.

WTI Crude Crumbles To $28 Handle, 3-Week Lows

WTI crude has collapsed 5.5% from overnight highs and broken back below $29 for the first time since Jan 21st (when "the bottom" was put in)...

Former Fed President Demands Negative Rates To Combat "Terrible" Fiscal Policy

These are trying times. Fortunately, Narayana Kocherlakota is a "courageous" man with "daring" solutions.

It's Not Just China And Oil Anymore: Here Are The Two New Concerns Weighing On Risk

The year continues to be bruising for risk assets and recent attempts at stabilisation have been unsuccessful. After a mild rebound, equities and US credit spreads are again close to their year’s worst levels. In addition to the initial concerns about China and energy, two new issues further weigh on risk sentiment: the slowdown in US growth momentum and the tightening of financial conditions especially in European financial credit.

The Economy In Pictures: We've Seen This All Before

“Are we closer to an economic recession or a continued expansion?” With the Fed hiking interest rates, and talking a tough game of continued economic strength, the risk of a “policy error” has risen markedly in recent months. The markets, falling inflation indicators, and plunging interest rates are all suggesting the same.

Bill Clinton: "Sometimes I Wish We Weren't Married"

"I don't mean that in a negative way. I am happy."

Computerized Trading Creating Oil Price Volatility

Money flows are becoming increasingly disconnected from fundamental price movements.

The US Economy's Problem Summed Up In 1 Simple Chart

Too much mal-invested, Fed-fueled, hope-driven "if we build it, they will buy it" inventory... and not enough actual demand. This has never, ever, ended well in the past - so why is this time different?

Goldman Capitulates: Closes Out 5 Of Its 6 Top Trades For 2016 With A Loss

Just 40 full days into 2016, not only has Goldman been closed out on its Top Trade for 2016, namely being long the USD vs both the Yen and the Euro, but virtually all of its other trades: according to a just released update, Goldman has just been stopped out - with a loss - on 5 of its 6 top trades for 2016.

Panic-Buyers Spike Dow Over 200 Points At Open

Manic.. or Panic?

Last Pillar Standing Breaks - They're Taking Out The "Generals"

The relatively few leaders (aka, “generals”) that had been propping up the indexes are being systematically taken out.

Saudi Arabia Prepares To Send Special Forces To Syria; Will Fight As Part Of "US-Led Coalition"


Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here

by Michael Snyder, The Economic Collapse Blog:

There is so much chaos going on that I don’t even know where to start.  For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is finally unfolding.  Let’s start with Deutsche Bank.  The stock of the most important bank in the “strongest economy in Europe” plunged another 8 percent on Monday, and it is now hovering just above the all-time record low that was set during the last financial crisis.  Overall, the stock price is now down a staggering 36 percent since 2016 began, and Deutsche Bank credit default swaps are going parabolic.  Of course my readers were alerted to major problems at Deutsche Bank all the way back in September, and now the endgame is playing out.  In addition to Deutsche Bank, the list of other “too big to fail” banks in Europe that appear to be in very serious trouble includes Commerzbank, Credit Suisse, HSBC and BNP Paribas.  Just about every major bank in Italy could fall on that list as well, and Greek bank stocks lost close to a quarter of their value on Monday alone.  Financial Armageddon has come to Europe, and the entire planet is going to feel the pain.
Read More

Dangerous Speech: Would the Founders Be Considered Domestic Extremists Today?

from Washington’s Blog:

“If you can’t say ‘F**k’ you can’t say, ‘F**k the government.’” ― Lenny Bruce
Not only has free speech become a four-letter word—profane, obscene, uncouth, not to be uttered in so-called public places—but in more and more cases, the government deems free speech to be downright dangerous and in some instances illegal.
The U.S. government has become particularly intolerant of speech that challenges the government’s power, reveals the government’s corruption, exposes the government’s lies, and encourages the citizenry to push back against the government’s many injustices.
Read More

Welcome to the Recovery – 1 Out of 7 Americans (45.5 Million) Remain on Food Stamps

from Liberty Blitzkrieg:

The following article from the New York Times is shameful in many ways. While the paper is forced to cover the undeniable fact that real wages for the lowest income Americans have plunged during the so-called “economic recovery” over the past six years, it fails to actually pin blame on the undemocratic, oligarch institution most responsible for this humanitarian crisis: The Federal Reserve.
Of course, I and many others have been saying this for years, but now more than half a decade into what is supposed to be a recovery, people are finally being forced to admit what this really is — large scale theft.
Read More…


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