Mike Shedlock

Posted December 21, 2014

In this case it appears the source of this misrepresentation was Business Insider who also got the story amazingly wrong.

Posted December 20, 2014

In theory, break-even rates reflect investors expectations for inflation over the life of the securities.

Posted December 18, 2014

Pundits poring over the statement have generally concluded as does the Financial Times, that Fed Signals Tightening by Mid-2015. Why?

Posted December 17, 2014

If one looked at the open vs. the close the move was only 3.18%. However, the move bottom to top was 25.64%!

Posted December 16, 2014

The city of Scranton hiked property taxes 57% and garbage collection fees 69% to shore up a police and fire pension funds that will run out of money anyway, in 5 years and 2.5 years respectively.

Posted December 15, 2014

Rumor has it that Draghi is so fed up with German opposition to everything he wants to do with stimulus and sovereign debt bond buying that he is about to leave the ECB.

Posted December 14, 2014

A move is underway in France to cut aid to movies if the salaries of the stars is too high a percentage of the cost of production.

Posted December 13, 2014

Recently, several people emailed me stating an observation that gold is directly correlated to movements in the Yen.

Posted December 12, 2014

Energy production is extremely capital intense, and often accompanied by negative free cash flow.

Posted December 11, 2014

Spain wants 60 Billion. How much will France want? Greece? Portugal? Germany? How far will 315 Billion go?

Posted December 10, 2014

Monday, Greek prime minister Antonis Samaras called a snap presidential election hoping to retain power even though he failed to deliver on his promise to end Greeces 245bn troika-sponsored bailout.

Posted December 09, 2014

Now that home prices have recovered and homes are not the bargain they were four years ago, it is fitting the parasites once again want to make homes "affordable" to the masses with low-down payment options.

Posted December 08, 2014

Encouraged by the US, Ukrainians overthrew a Russian-leaning government. The new thugs sought closer ties to Western Europe.

Posted December 07, 2014

This was the largest monthly drawdown in 13 years and the largest series of drawdowns since 2007 (drawdowns in red on above chart). So, where's the gold going?

Posted December 06, 2014

The payroll survey shows a net gain of 321,000 jobs vs. a Bloomberg consensus expectation of 230,000 jobs. September was revised up from 256,000 to 271,000. October was revised up from 214,000 to 243,000.

Posted December 05, 2014

In spite of a sustained rally in home prices, the October Black Knight Financial Services Mortgage Monitor shows Four million borrowers currently underwater.

Posted December 04, 2014

A week ago Fed Governor Dudley announced "U.S. Economic Outlook Looks Brighter". My response was Ring! Ring! Goes the Bell.

Posted December 03, 2014

Having already thrown 240 Billion at Greece over the last four years, the Greek patient is still quite ill as Europe Debates Third Bailout Package for Athens.

Posted December 02, 2014

Gold, silver, and oil put in pretty spectacular reversals on Monday from Friday Noon. Let's take a look.

Posted December 01, 2014

The only beneficiary of the inane sanctions has been China.