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Keyword: finance

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  • Stop The Presses! Hillary's Getting Battered By Her Liberal Friends In The News Media

    04/29/2015 11:10:40 AM PDT · by Kaslin · 28 replies
    Townhall.com ^ | April 29, 2015 | Donald Lambro
    WASHINGTON - There's an old, common sense saying about never putting your eggs in one basket. Yet that's what Democrats have done by overwhelmingly bowing to Hillary Clinton's vaunted ambition to be the next president of the United States. But the polls of the last few weeks suggest that Clinton's coronation campaign, with all of the trappings of pomp and power that preceded it, is coming apart at the seams. The former secretary of State's precipitous decline was first noticed in March in a national CNN poll that found her unfavorable numbers were rising, and perceptions of her as honest...
  • The Biggest Ponzi Scheme in the History of the World "When She Blows It'll Be Krakatoa Redux"

    04/22/2015 2:11:51 PM PDT · by concernedcitizen76 · 73 replies
    April 22, 2015 | Self
  • NY Fed's "Plunge Protection Team" Starts Chicago Trading Floor "In Case Of Disaster..."

    04/17/2015 10:00:37 AM PDT · by Enlightened1 · 17 replies
    Zero Hedge ^ | 4/15/15 | Tyler Durden
    What kind of natural disaster would be bad enough to completely shut down the operations of the New York Federal Reserve Bank? It would have to be something very unusual, and apparently the New York Fed is very concerned that such an event could happen. According to Reuters, the New York Fed has been transferring personnel to Chicago and building up its satellite office there just in case a “natural disaster” makes it impossible for normal operations to continue in New York…
  • Banks are bailing on the student loan business and it couldn't come at a worse time

    04/15/2015 12:22:31 PM PDT · by SeekAndFind · 32 replies
    Business Insider ^ | 04/15/2015 | Jonathan Marino
    Some of the world's biggest banks, including JP Morgan, Bank of America and US Bancorp, are withdrawing from the student loan market. That's according to a series of reports over the past couple years.It couldn't come at a worse time.That is because it coincides with a rise in students who want student loans.And, the amount of money those students want to borrow is also going up because the price of of a college education keeps rising.This chart tells the story: Federal Reserve Bank of New York -- Staff Reports April 2014 NY Federal Reserve report shows borrowers, and their average...
  • Over half of Americans have $0 in stocks

    04/10/2015 3:31:42 PM PDT · by Red in Blue PA · 114 replies
    More American adults drink coffee daily than have money invested in the stock market. Less than half, or 48%, of American adults have money in stocks, according to Bankrate's Money Pulse survey. Compared to that, about 61% of adults have at least a cup of coffee daily, according to the latest National Coffee Drinking Trends.
  • EnCap raises $6.5 billion to pour into North American oil firms

    04/10/2015 9:54:03 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | April 10, 2015 | Collin Eaton
    Private equity firm EnCap Investments has closed its tenth energy fund with $6.5 billion to back North American oil and gas producers, the latest firm to collect billions to pump into the shale business. The Houston firm this week joined Blackrock, Walburg Pincus, Riverstone and others in raising more than $25 billion in recent months, according to data collected by Bloomberg, aimed at the battered oil industry after a nine-month slide in crude prices. Many investors see bargains in the business while assets are cheap and oil prices are low. EnCap said its Energy Capital Fund X was “significantly oversubscribed.”...
  • Chase Bank new policy on Safe Boxes -- Beware!

    04/08/2015 2:09:58 PM PDT · by Migraine · 56 replies
    Chase Letter to Safe Box Customers | 4/8/15 | self
    I received a letter this past week from Chase because I was a safe-deposit-box customer. It was heavy handed and startling. Some of the terms included that lessee agrees not to have more than $25K worth in there (what's that? half of a good diamond?), that you can't have cash or coins in there (right away I thought Krugerrands, etc), and that the bank can restrict access to the box for any reason, or for no reason (unexpected circumstances, natural or manmade -- the sky is the limit). The contents are not protected against loss or damage. Oh, and they...
  • Notice to Firearms Retailers: Important Credit Card Processing Changes Coming

    04/07/2015 7:47:58 AM PDT · by rktman · 30 replies
    nssfblog.com ^ | 4/6/2015 | Patrick Shay
    In order to provide additional and enhanced credit card protection for consumers, credit card companies will soon implement new rules that will change the way credit and debit card transactions will be processed. All major credit card companies are issuing new EMV (Europay, Mastercard and Visa) cards or “smart cards” that contain embedded microchips that provide transaction security features and other capabilities not possible with current, traditional, magnetic stripe cards. (Note: Smart cards are not new. They have been around a long time and most of the world has already migrated to EMV technology. The United States is one of...
  • There's 'no demand' for senior bankers on Wall Street today

    04/07/2015 8:36:32 AM PDT · by SeekAndFind · 15 replies
    Business Insider ^ | 04/07/2015 | SARAH BUTCHER, EFINANCIALCAREERS
    There was a time when it was possible to ‘retire’ from investment banking in your 30s. That time has passed. As the the trajectory of banking careers changes, 30 has instead become the age at which you must be positioned at a firm that will see you through to your 40s and beyond. Swapping banks when you’re aged 30+ is increasingly challenging. Headhunters working across business areas bemoan the lack of recruitment beyond vice president (VP) level. “Banks have become incredibly cost-conscious,” says a partner at an M&A search boutique. “They’re not making a 25% return on equity any more...
  • 86% of investment managers stunk in 2014

    04/04/2015 6:53:17 AM PDT · by Red in Blue PA · 7 replies
    The skills and expertise of fund managers are supposed to give them the ability to select better stocks and bonds than an index like the Dow or S&P 500. The problem is that hasn't been happening lately. A staggering 86% of active large-cap fund managers failed to beat their benchmarks in the last year, according to an S&P Dow Jones Indices scorecard released on Thursday. And no, that wasn't a one-off blip either. Nearly 89% of those fund managers underperformed their benchmarks over the past five years and 82% did the same over the last decade, S&P said.
  • Stockman: Corporate America Is Cannibalizing Itself

    04/01/2015 12:35:16 AM PDT · by concernedcitizen76 · 13 replies
    NewsMax ^ | March 9, 2015 | John Morgan
    American businesses are borrowing at historic high levels, but the only thing growing as a result is how fast their equity capital is vanishing, according to David Stockman, White House budget chief during the Reagan administration. Stockman blamed the Fed and the Fed's Wall Street cheerleaders. He said the Fed’s balance sheet has ballooned by nine times since 2000, yet real net investment in the business sector has cratered by 33 percent during the same time period. “Once upon a time businesses borrowed long term money — if they borrowed at all — in order to fund plant, equipment and...
  • Ex OMB chief Stockman: "It is the biggest speculative disaster in human history."

    03/31/2015 7:59:48 PM PDT · by concernedcitizen76 · 52 replies
    Zero Hedge ^ | March 01, 2015 | Tyler Durden
    David Alan Stockman interviewed on CBS-TV 60 Minutes (October 2010) Highlights of recent interview by Harry Dent. David Stockman: People don't want to hear the reality and the truth that we're facing. But I think there is an enormous appetite out in the country to get a different perspective than what you have from the media day in and day out, so I say the fed is out of control. Its balance sheet is exploded. It's printing money like never before. Zero interest rates for 70 months have basically destroyed the pricing function in the financial markets. I said...
  • Four TBTF Banks Threaten To Withhold Funds To Democrats Over Elizabeth Warren's Wall Street Rants

    03/31/2015 10:51:03 AM PDT · by tcrlaf · 10 replies
    Zerohedge ^ | 3-31-2015 | Durden
    Having already proven that their institutions are above the law in the aftermath of the financial crisis, executives at the “Too Big to Fail and Jail” banks have decided it’s time to teach Senate Democrats a lesson. Not being content with trillions in taxpayer backed bailouts to protect and further consolidate virtually all wealth within their oligarch fiefdoms, these bankers are irate at the notion that a commoner would dare criticize their unassailable crony privilege. However, the worst part of this story, is that while Warren is harsher than most of her completely bought and paid for colleagues, she is...
  • They Are Slowly Making Cash Illegal

    03/29/2015 6:44:19 PM PDT · by SeekAndFind · 75 replies
    TEC ^ | 03/29/2015 | Michael Snyder
    The move to a cashless society won’t happen overnight. Instead, it is being implemented very slowly and systematically in a series of incremental steps. All over the planet, governments are starting to place restrictions on the use of cash for security reasons. As citizens, we are being told that this is being done to thwart criminals, terrorists, drug runners, money launderers and tax evaders. Other forms of payment are much easier for governments to track, and so they very much prefer them. But we are rapidly getting to the point where the use of cash is considered to be a...
  • Is Stansberry right about the coming crises in the U.S. or is he just trying to sell something?

    03/28/2015 6:37:31 PM PDT · by MeneMeneTekelUpharsin · 27 replies
    28 March 2015 | Mene
    Just asking, that's all.
  • Feds Urge Banks to Call Cops on Customers Who Withdraw $5,000 or More

    03/24/2015 5:34:35 AM PDT · by HomerBohn · 65 replies
    Tea Party ^ | 3/23/2015 | Staff
    The Justice Department is ordering bank employees to consider calling the cops on customers who withdraw $5,000 dollars or more, a chilling example of how the war on cash is intensifying. Banks are already required to file ‘suspicious activity reports’ on their customers, with threats of fines and even jail time for directors if financial institutions don’t meet quotas. But as investor and financial blogger Simon Black points out, last week, “A senior official from the Justice Department spoke to a group of bankers about the need for them to rat out their customers to the police.” SPECIAL: Make Barack...
  • Finally, A Bank Stands Up To Obama's Shakedown

    03/18/2015 6:32:52 AM PDT · by SeekAndFind · 36 replies
    IBD ^ | 03/18/2015
    Extortion: After 16 banks caved in to White House demands to refund billions in losses to Fannie Mae and Freddie Mac, one outlier remains unrepentant. Nomura Holdings refuses to succumb to the political shakedown. The Japanese bank's U.S. unit won't give in to extortionist regulators protecting Fannie/Freddie who claim it hoodwinked the toxic twins into buying pools of subprime mortgages, like it claimed Bank of America, JPMorgan and other U.S. banks did in the run-up to the mortgage crisis. The government demands $1 billion in damages. Nomura says it won't give a dime toward the $18 billion ransom the feds...
  • What personal finance software do FReepers use? *VANITY*

    03/16/2015 5:24:49 AM PDT · by rarestia · 43 replies
    My noggin ^ | 16 March 2015 | The Rarest
    Since my 8-year-old copy of Microsoft Money has finally decided to unceremoniously stop working, I've decided to start shopping around for a new personal finance program. My needs are relatively small. I really only use it to track my checking account and mortgage. I looked into Intuit's Quicken software, but the reviews were pretty bleak. It seems that Intuit hasn't learned and continues to churn out garbage software that people just learn to live with and then are forced to upgrade 2 years later. On top of that, it's my understanding that you have to sign up for an account...
  • VIRTUE has gone forth, it seeks ~ its source [charismatic caucus]

    03/17/2014 9:51:21 AM PDT · by Jedediah
    The Joshua Chronicles,Bible ^ | 3-17-14 | Jedediah
    Virtue has gone forth, It seeks its source , The holy and true, But will it be found on you ?! Those faithful to abide, In My presence and not hide, Those with the abilty, To drink from My cup and see, Clearly the Father's Will, To stand near My Voice and Quill, Those with the abilty to know, The understanding of the coals that glow, My pure and Holy Testimony, For these coals represent Me, And now this harvest that is mine, Is about to see and witness the Outpouring of My Spirit Divine, For all of Heaven and...
  • Iran Deal Secrets Revealed – by Iran

    03/13/2015 4:59:33 AM PDT · by SJackson · 10 replies
    FrontPage Magazine ^ | March 13, 2015 | Kenneth R. Timmerman
    Iran Deal Secrets Revealed – by IranPosted By Kenneth R. Timmerman On March 13, 2015 @ 12:46 am In Daily Mailer,FrontPage | 1 Comment Much is being made of the letter signed by 45 U.S. Senators, all of them Republican, aimed at schooling Iranian leaders in the requirements of the U.S. Constitution.Secretary Kerry said his reaction was “utter disbelief” that the Senators would “go behind” the back of the administration during a delicate international negotiation. Some on the American Left called it “treason,” conveniently forgetting that some of their own (including Kerry, as a junior Senator) have met with enemy...
  • Greece Suffers Biggest Bank Run In History: January Deposits Plunge To 2005 Levels

    02/26/2015 7:31:52 AM PST · by SeekAndFind · 14 replies
    Zero Hedge ^ | 02/26/2015 | Tyler Durden
    One of the biggest question marks surrounding the Greek negotiation and ultimately, bailout extension, was just how panicked was the Greek population and domestic corporations. Recall that as explained previously, the tension boiled down to this: the Troika did everything in its power to accelerate the bank run in order to crush any negotiating leverage Varoufakis may have; Greece on the other hand was desperate to make its cash drain appear far better than rumored. Moments ago the Bank of Greece presented its latest, January, deposit data. And it's a doozy: following a record €12.2 billion monthly outflow, greater...
  • A different cluetrain

    02/25/2015 2:16:24 PM PST · by RightCenter · 2 replies
    Charlie's Diary ^ | February 25, 2015 | Charles Stross
    A different cluetrain By Charlie Stross Right now, I'm chewing over the final edits on a rather political book. And I think, as it's a near future setting, I should jot down some axioms about politics ... 1. We're living in an era of increasing automation. And it's trivially clear that the adoption of automation privileges capital over labour (because capital can be substituted for labour, and the profit from its deployment thereby accrues to capital rather than being shared evenly across society). 2. A side-effect of the rise of capital is the financialization of everything—capital flows towards profit centres...
  • The Hyperinflation Hype: Why the U.S. Can Never Be Weimar

    02/25/2015 10:26:02 AM PST · by ChildOfThe60s · 32 replies
    The Atlantic ^ | March 21, 2012 | Matthew O'Brien
    How are the United States' historic budget deficits, money-printing and depressed economy any different from the country's that have experienced hyper-inflation? The three-part answer is:(1) we don't have any problems selling our debt(2) we aren't actually printing money; and (3) the United States is a highly productive economy that is nothing like bombed-out Budapest.
  • The Case Against Imminent Economic Collapse: “They Can Keep Bailing Things Out for Several More...

    02/17/2015 1:36:33 PM PST · by blam · 45 replies
    SHTF Plan ^ | 2-17-2015 | Joel Skousen
    The Case Against Imminent Economic Collapse: “They Can Keep Bailing Things Out for Several More Years Without Fear of Collapse” Joel Skousen February 16th, 2015 Editor’s Note: The following commentary comes to us from Joel Skousen, a well respected geopolitical analyst and Strategic Relocation expert. We see evidence of an impending collapse of the global financial and economic systems on an almost daily basis. From falsified statistics to an almost unfathomable series of never-ending monetary machinations, all signs point to something being horrifically wrong, not just with the economy but the entire global paradigm as it exists today. By all...
  • Strauss-Kahn Had Secret Flat In Paris To Hide Group Sex From Wife, Court Hears

    02/12/2015 10:02:13 PM PST · by Steelfish · 3 replies
    Guardian (UK) ^ | February 12, 2015 | Angelique Chrisafis
    Strauss-Kahn Had Secret Flat In Paris To Hide Group Sex From Wife, Court Hears Former IMF chief tells aggravated pimping trial apartment in upmarket Paris area was for discreet meetings with women Angelique Chrisafis 12 February 2015 Dominique Strauss-Kahn, the former head of the International Monetary Fund, has told a court how he rented a luxury flat in Paris under an acquaintance’s name because he was married and wanted somewhere discreet to meet women for group sex. Strauss-Kahn is on trial for alleged “aggravated pimping” – aiding and abetting the prostitution of seven women – and could be jailed for...
  • Feel That? It's The Chill Of Deflation

    02/09/2015 10:55:30 AM PST · by blam · 24 replies
    TMO ^ | 2-9-2015 | Chris Mayer
    February 08, 2015 Chris Mayer writes: That chill in the air? This is what deflation feels like... Right now, the 10-year U.S. Treasury pays just 1.8%... oil is $50 a barrel... commodity prices drift near to chilling lows... and the dollar is near multiyear highs. These are all deflationary trends. What deflation means for you as an investor is what I want to explore today. As an investor in stocks, there is a safe path through a deflationary Ice age. I'll get to that in a moment. But first... what exactly is deflation? The economic word deflation, says the Oxford...
  • District Ties Teachers' Salaries to Financial Health

    02/06/2015 8:20:02 AM PST · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 2/5/2015 | Tom Gantert
    Port Huron Area Schools negotiated into its teachers’ contract an unusual provision: The compensation of its teachers is tied to the financial health of the district. According to the teachers’ contract, salaries were frozen in 2011. Instead, the district and union agreed to a compensation plan that is based upon maintaining a minimum 8-percent fund balance. If the expenses exceed revenues and the fund balance drops below 8 percent, teachers will take a reduction in pay to get the fund balance back to 8 percent. No teachers’ salary can be reduced below $50,000, however. If the district’s revenue is greater...
  • The Budget Clash

    02/05/2015 4:32:32 AM PST · by Kaslin · 1 replies
    Townhall.com ^ | February 5, 2015 | Jackie Gingrich Cushman
    This week, President Obama released his budget for fiscal year 2016. It reflected much of what he had laid out in his State of the Union Speech, where he faced the recently elected members of the 114th Congress. Others might have paused first to consider the implications of the mid-term elections in which Republicans won big: They increased their control of the House and regained control of the Senate. But Obama, who had 90 fewer elected Democrats in his audience than has any other Democratic president in the past 90 years (246 of the 435 representatives and 54 of the...
  • State Out Nearly $300M from Cigarette Smuggling

    01/30/2015 5:52:48 AM PST · by MichCapCon · 19 replies
    Michigan Capitol Confidential ^ | 1/27/2015 | Michael LaFaive
    In studies, essays and blog posts since 2008, we have noted the raft of unintended consequences associated with Michigan’s illicit trade in cigarettes. Often we zero in on smuggling itself. A quarter of all the cigarettes consumed in Michigan in 2013 were contraband. What all too often gets left behind in the debate over cigarette trafficking is the amount of revenue lost by the state to activities that are effectively inspired by high taxes in the first place. We estimate that the Great Lakes State lost $298 million from the untaxed cigarette trade in 2013. The one sliver of good...
  • Oregon bank now says it won't work with Colorado marijuana businesses

    01/27/2015 11:41:26 AM PST · by george76 · 8 replies
    MBank, an Oregon bank that last week said it would allow Colorado marijuana businesses to open accounts, now says it won't. The Denver Post reports the bank is saying it doesn't have the infrastructure to handle the volume of customers in the pot industry. But the newspaper cites unnamed sources as saying federal banking regulators told MBank the move was too risky. Because marijuana remains illegal under federal law, companies in the industry haven't been able to find a bank to handle their business. MBank doesn't have a Colorado location. Instead, MBank intended to have marijuana businesses deposit their cash...
  • What Experts Say about This Past Week--Investment & Finance Thread Jan. 25

    01/25/2015 10:11:11 AM PST · by expat_panama · 107 replies
    Weekly investment & finance thread ^ | Jan. 25, 2015 | Freeper Investors
    Considering the top headlines were about soft footballs this has to have been an easy no-brainer week for investments.  Maybe; here's what he experts are telling us:                     [excerpt from Investors Business Daily At Davos, Hypocrites Tell Rest Of Us To Lower Expectations]Former Vice President Al Gore listens to singer Pharrell Williams... [snip]...talking, of course, about the annual confab at Davos, Switzerland, ...[snip] "The purpose," said former vice president and climate-change entrepreneur Al Gore, standing with hip-hop star Pharrell Williams, "is to have a billion voices with one message, to demand climate action now." OK, so how about you flying commercial,...
  • Terrorist plans targeting Washington monuments discovered in Afghanistan

    01/30/2002 3:41:41 PM PST · by anniegetyourgun · 135 replies · 495+ views
    King5.com ^ | 1/30/02 | NBC News
    SEATTLE - NBC News is reporting that the Space Needle in Seattle - a high-profile landmark in America's Pacific Northwest - was apparently a target for al-Qaida terrorists. U.S. officials tell NBC News evidence found in Afghanistan uncovered plans to attack the high-profile Space Needle along with other monuments in Washington State, including massive hydroelectric dams, like the Grand Coulee. According to the NBC News report, plans were also found that targeted the Los Angeles International Airport for a second time. An earlier plot to bomb the airport was foiled two years ago when convicted terrorist Ahmed Ressam was arrested ...
  • Bank Data Mined in Secret by U.S. to Block Terror

    06/22/2006 5:03:39 PM PDT · by Norman Rogers · 76 replies · 1,033+ views
    NY Times ^ | 6/22/2006 | ERIC LICHTBLAU and JAMES RISEN
    WASHINGTON, June 22 - Under a secret Bush administration program initiated weeks after the Sept. 11 attacks, counterterrorism officials have gained access to financial records from a vast international database and examined banking transactions involving thousands of Americans and others in the United States, according to government and industry officials.
  • Wall Street Just Got Exactly What It Wished For, But It Wasn't Ready For It

    01/15/2015 9:11:30 AM PST · by blam
    BI ^ | 1-15-2015 | Linette Lopez
    Linette Lopez January 15, 2015The story on Wall Street this earnings season is a classic case of, "be careful what you wish for; you just might get it." Since Wednesday, when Wall Street started reporting its earnings for the last quarter of 2014, we have seen an across-the-board beatdown on trading revenues. •A 23% drop in bond trading (from the same time last year) contributed to JP Morgan's earnings miss. •Citigroup's trading revenue fell by 14% overall, and bond trading fell 16% from this time last year. •And sales and trading revenue at Bank of America fell 20% from the...
  • 2015: The Year Of The Global Economic Slump?

    01/09/2015 6:30:45 PM PST · by blam · 3 replies
    TMO ^ | 1-9-2015 | Alasdair Macleod
    January 09, 2015 Alasdair_Macleod 2014 ended with two ominous developments: the strength of the US dollar and a collapse in key commodity prices. It is tempting to view both events as one, but the continuing fall in oil prices through December reveals they are sequential: first there was a greater preference for dollars compared with other currencies and this still persists, followed by a developing preference for all but the weakest currencies at the expense of raw materials and energy. These are two steps on a path that should logically lead to a global slump. Dollar strength was the first...
  • The Hoarder, The Miser, The Gold And Silver Investor

    01/09/2015 11:17:46 AM PST · by blam · 12 replies
    TMO ^ | 1-9-2015 | Dr Jeff Lewis
    January 09, 2015 Dr Jeff Lewis A subscriber sent me the following note recently: You know I was driving home tonight and was observing all the cars building etc. I thought maybe I am nuts this can't all stop. Then I also said to myself this is an illusion that massive un-payable debt has created. I hope for all of our sakes the former wins because the latter would be unbearable. Do you honestly believe a collapse war and poverty is truly going to happen? What's the difference even if you have a ton of silver people just would take...
  • Stocks And Commodities - The Deflationary Myth

    01/08/2015 9:23:42 PM PST · by blam · 15 replies
    TMO ^ | 1-8-2015 | Toby_Connor
    Toby Conner January 08, 2015 With commodities now moving down into their three year cycle low I’m hearing more and more talk about deflation. This is complete nonsense. Bernanke had it exactly right when he pointed out that any determined government could halt deflation at will with a printing press. As a matter of fact the only mildly deflationary event we’ve seen since 1932 was a brief period during 2008 and early 2009. Bernanke succeeded in stopping it in its tracks almost immediately with QE1. In order to experience deflation there must be debt defaults. That’s what happened in 2008....
  • DEFLATION IS HERE

    01/07/2015 5:55:13 AM PST · by blam · 31 replies
    BI ^ | 1-7-2015 | Mike Bird
    Mike Bird January 7, 2015 After a year of anticipation, deflation has finally arrived in Europe. Consumer prices dropped 0.2% in the year to December. The consensus was that inflation would drop to about zero or -0.1%. Inflation in Germany, Europe's healthiest large economy, is at just 0.1%. Spain has already recorded months of deflation, and its consumer prices fell 1.1% in December from the same time last year. With oil prices still tumbling, it's clear that falling consumer price inflation still has further to go. Nobody is disputing what pushed inflation over the zero mark. It's the decline in...
  • Deflation And The Year Ahead

    01/07/2015 5:24:51 AM PST · by blam · 5 replies
    TMO ^ | Clif_Droke
    Januarary 07, 2015 Clif_Droke Stocks were hit by selling pressure on Monday as the S&P 500 (SPX) declined 1.83% and the Dow 30 shed 1.86%. The energy sector bore the brunt of the selling with the NYSE Oil Index declining 4.61%. Crude oil prices also dropped nearly 5% for the day to close at 5 ˝-year lows. Fears that Greece may exit the euro zone are being blamed on the latest broad market decline. Upcoming elections in Greece have spooked many investors, who feel that the country's exit from the euro zone would be disastrous. The most likely reason for...
  • Oil Falls Below 50 As Global Financial Markets Begin To Unravel

    01/06/2015 11:18:25 AM PST · by blam · 31 replies
    TEC ^ | 1-15-2015 | Michael Snyder
    By Michael Snyder January 5th, 2015 On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points. Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece. These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015. Just prior to the financial crisis of 2008,...
  • It's Like We're In The Panic Phase Of A Financial Crisis

    01/06/2015 5:41:10 AM PST · by blam · 23 replies
    BI ^ | 1-6-2015 | Sam Ro
    Sam Ro January 6, 2015Over the past few days, we've seen stocks plummet and oil prices crash. But the most interesting moves have been occurring in the global bond markets where government bond yields have been plunging to historic lows. "2015 starts off with the average of G3 10 year government yields below 1%," wrote Steven Englander, Citi's global head of G10 FX Strategy. The G3 currency group consists of the US dollar, the euro, and the yen. On Tuesday, the US 10-year yield got as low as 1.959% and Japan's 10-year yield fell to as low as 0.288%. In...
  • Son allegedly killed Manhattan hedge fund founder over $200 allowance cut, source says

    01/05/2015 2:41:36 PM PST · by PROCON · 47 replies
    foxnews ^ | Jan. 5, 2015 | Foxnews/AP
    The son of a millionaire Manhattan hedge fund founder allegedly gunned down his dad because his allowance was cut to $400 from $600 a month – a $200 difference – a law enforcement source told the New York Post. Thomas Gilbert Sr. was shot in the head at his Beekman Place residence on the East Side on Sunday, police said. Officers responded to the home after reports of shots fired, and found Gilbert in the bedroom, with a handgun near his body. Gilbert's son, Thomas, was being questioned by police but no charges have been filed, police said. The New...
  • We Live In A New World And The Saudis Are The First To Get It

    12/25/2014 1:52:04 PM PST · by SatinDoll · 38 replies
    The Automatic Earth blog ^ | Dec. 24, 2012 | Raul Ilargi Meijer
    [ Secondary blog source: Tyler Durden / The Zero Hedge / www.zerohedge.com/news/2014-12-24/we-live-new-world-and-saudis-are-first-get-it ] There are many things I don’t understand these days, and some are undoubtedly due to the limits of my brain power. But at the same time some are not. I’m the kind of person who can no longer believe that anyone would get excited over a 5% American GDP growth number. Not even with any other details thrown in, just simply a print like that. It’s so completely out of left field and out of proportion that you would think by now at least a few more...
  • The Destruction Of The Middle Class Is Nearing The Final Stages

    12/24/2014 3:11:54 PM PST · by dontreadthis · 112 replies
    zerohedge.com ^ | 12/23/2014 | Tyler Durden
    The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed. At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that...
  • An Economic Indicator That Predicted The Last 7 Recessions Predicts No Recession Any Time Soon

    12/18/2014 8:03:43 PM PST · by blam · 23 replies
    BI - Guggenheim Partners ^ | 12-18-2014 | Scott Minerd
    Scott Minerd, Guggenheim Partners December 18, 2014 Plunging oil markets and faltering growth expectations around the world have raised fears about the sustainability of the current U.S. economic expansion. The economic data, though, suggest that these fears are largely unfounded. The Conference Board’s Leading Economic Index, which is made up of 10 forward-looking economic and financial indicators, has not fallen since January and has been gaining momentum throughout the year. (snip)
  • The Destruction of America’s Pension Plans

    12/14/2014 9:00:16 AM PST · by Oldpuppymax · 18 replies
    Coach is Right ^ | 12/14/14 | Suzanne Eovaldi
    The just passed $1.1 trillion Cromnibus (Continuing Resolution and Omnibus) check float that successfully got through the Republican controlled US House contains language that could gut pension plans, according to analyses by both conservative and leftist web writers. “The pension provision was made public late Tuesday night,” says a web source that blasts efforts to write down public pension allotments. (1) Mike Adams of Health Ranger warns that “all the pension benefits that have been promised government retirees are about to be stolen back from retirees.” (2) Quoting a WaPo article, Adams also points out that “the proposal would torpedo...
  • Big Banks Will Take Depositors Money In Next Crash -Ellen Brown

    12/11/2014 11:14:26 AM PST · by GilGil · 87 replies
    USAWathdog ^ | 12/10/2014 | Ellen Brown
    "... if you had a big derivatives bust that brought down JP Morgan or Bank of America, there is no way there is going to be collateral left for the FDIC or for the secured depositors. This would include state and local governments. They all put their money in these big banks. So, even though we are protected by the FDIC, the FDIC is not going to have the money. . . . This makes it legal for these big 30 banks to take our money when they become insolvent. They are too-big-to-fail. This was supposed to avoid too-big-to-fail, but...
  • Treasury Department Seeking Survival Kits For Bank Employees

    12/10/2014 12:42:13 PM PST · by Nachum · 40 replies
    Free Beacon ^ | 12/10/14 | Elizabeth Harrington
    The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets. The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4. The survival kits must come in a fanny-pack or backpack that can fit all of...
  • Banker dies after becoming impaled on railings in 60ft fall from central London home

    12/10/2014 2:32:29 AM PST · by BlackVeil · 67 replies
    Daily Mail ^ | 10 Dec 2014 | By Emma Glanfield
    A banker has died after becoming impaled on railings after falling 60ft from the window of a luxury penthouse in central London, which is next door to John Lennon's former home. ...Metropolitan Police said the man's death was not being treated as suspicious but confirmed enquiries were being carried out into the circumstances surrounding his death.
  • Next up: Illinois municipal bankruptcy?

    12/06/2014 3:11:43 PM PST · by Graybeard58 · 18 replies
    Chicago Sun Times ^ | 12-6-'14 | Andrew Schroedter and Patrick Rehkamp
    At its recent annual conference the Illinois Municipal League, a century old adviser and advocate for local government, took the unprecedented step of sponsoring an in-depth session on a volatile topic: hometown bankruptcies. The Sept. 18 session, entitled “Finance: Lessons from Detroit and Pension Cases,” couldn’t have been timelier. Many of Illinois’ municipal leaders are warily eyeing Motown’s bankruptcy proceeding while questioning whether their financially desperate and cash-crunched cities, suburbs and villages could face the same fate, a Rescuing Illinois investigation finds. At the very least, these leaders are now, more than ever before, openly questioning if bankruptcy is a...