Friday, February 5, 2016

The Chart Of Doom: When Private Credit Stops Expanding...

Three out of the five major economies are already experiencing stagnant or negative private credit growth. Three down, two to go. Helicopter money--government issued "free money" to households--is no replacement for private credit expansion.

Get Ready... For The Pogrom!

"Across the whole country, a pogrom mood prevails that is gathering an explosive intensity."

Oil Jumps As US Rig Count Plunges Most Since April

After weeks of modest declines, the US Oil Rig Count plunged by 31 to 467 this week - the biggest drop since April 2015 led by a 19 drop in Texas. Total rig count crashed 48 to 571. The reaction, though muted, was a jump in crude prices.

A Key Technical Indicator Just Rang The Bell On The Cyclical Bull Market

"If one is looking for key technical indicators to ring the bell on the cyclical bull market- maybe it has just rung loud and clear. A renminbi devaluation will only sever an already badly frayed safety rope..."

Robust Job Growth Doesn't Make Sense And The Numbers Show Why

 There is no productivity mystery, only a distinct and illegitimate lack of curiosity on the part of economists to simply take the Establishment Survey as gospel regardless of how little it fit the rest of the world. It also calls into question the legitimacy of the FOMC and monetary policy that was certainly subject to, and predicated upon, the same quackery. No matter how little the payroll reports described the economy as it was, including the relation to GDP, they held on to nothing else to instead deny everything.

President Obama Explains How Surging Bartender Jobs Are Unequivocally Good - Live Feed

Following Jason Furman's "Baghdad Bob" appearance on CNBC this morning, it is President Obama's turn to gloat over the awesomeness of a 4.9% unemployment rate (never mind the fact that the gains during his presidency have gone to low-paying jobs). A job is a job after all... right?

German Spy Chief Says ISIS Operatives Have Infiltrated Europe Disguised As Refugees

A day after German authorities arrested three men in connection with a planned terrorist attack on Berlin, Germany's intelligence chief warns that ISIS fighters are hiding among the 1.1 million refugees the country took in 2015. "We have repeatedly seen that terrorists have slipped in camouflaged or disguised as refugees," he says. “This is a fact that the security agencies are facing.”

Even With the Market Rolling Over, This Is What Bears Are Worried About

With faith in "growth" faltering and the momo leaders rolling over, there are still worries for the bears in the intermediate term...

An Update On The Waiter And Bartender Recovery

Since the US manufacturing sector is unofficially in a recession, and since the US service sector is allegedly growing like gangbusters, we are updating our favorite chart showing the bifurcation in the New Abnormal US economy: the job gains by U.S. manufacturing workers on one hand, and by waiters and bartenders on the other.

New Poll Shows Clinton, Sanders Tied - Hillary's Lead Evaporates In 6 Weeks

People are starting to get it. They understand the system has morphed into a rigged fraud, and they understand that Sanders really, desperately wants to change it.

Amazon Crashes To 4 Month Lows, Breaks Key Technical Support As "Growth" Fails

It appears the growth-value divergence is collapsing...

All Job Gains Since December 2007 Have Gone To Foreign-Born Workers

Starting with the infamous month when it all started falling apart, December 2007, the US has added just 186,000 native-born workers, offset by 13.5x times more, or 2,518,000, foreign born workers.

Anti-Goldilocks Jobs Data Sends S&P Back Into Correction

Not warm enough to support growth guesses and not cold enough to keep The Fed on the sidelines... stocks are not amused by today's "great" or "terrible" jobs data and the S&P 500 is back below 1900, down over 10% from record highs...

Will Non-OPEC Oil Production Collapse In 2016?

The recent surge in world production that was brought about by high prices was a USA and Canadian phenomenon only.

LinkedIn Collapses Below IPO-Day Highs

Well that escalated quickly...

70% Of Jobs Added In January Were Minimum Wage Waiters And Retail Workers

According to the BLS' breakdown of jobs added in January of the 151,000 jobs added in the past month, retail trade added 58,000 jobs in January, while employment in food services and drinking places, aka waiters and bartenders, rose by 47,000 in January.  In other words, 70% of the job gains in January went to minimum wage workers.

Dear BLS, Explain This

Factory orders are collapsing. Inventories are at recession cycle highs. Manufacturing ISM and PMIs are plunging... so Dear BLS, please explain the following chart?

Hilsenrath's Take: March Rate Hike In Limbo, But "Fed Was Expecting A Slowdown"

Just days after Fed whisperer Goldman Sachs made its first (of many) revisions to its Fed rate hike schedule, and no longer expects a March rate hike (if still somehow seeing 3 rate hikes in 2016), moments ago Fed mouthpiece Jon Hilsenrath reiterated the Fed's latest favorite catchphrase - that would be "watchfully waiting" for those who haven't paid attention - , and said that today's jobs report leave the Fed in limbo when it comes to the March rate hike decision. More importantly perhaps he adds that "Fed officials were expecting a slowdown." However, when one adds the 105,000 in prior month revisions, was is this big?

Huge Crane Collapses In New York: 1 Person Killed, More Critically Injured - Live Feed

Emergency responders are on the scene of a reported crane collapse in lower Manhattan. As CBS reports, it happened  just before 8:30 a.m. on Worth Street near Church Street in TriBeca. There are reports of people possible trapped in cars. Fire officials said one person is dead and at least two others are hurt. “I just felt it. It felt like a bomb,” one witness said. “This is just crazy, it’s huge - it’s enormous.”


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