WTFChartOfTheDay http://feedly.com/k/1i24IGm With stocks at record highs, ongoing commentary that retail is back and will lift all boats to infinity and beyond, it seems the professionals in the credit market are not amused. We have noted the ongoing divergence between the asset-classes for two weeks now but with today’s ultra-low volume drift higher in stocks, the drop in high-yield bonds is even more notable. The … Seguir leyendo WTF Chart Of The Day

USCapacityUtilisationisHistoricallylow http://feedly.com/k/1i24uPB According to this graph (open in a new window to view it properly), the US stimulus restored capacity utilisation from the worst plunge in the data shown, but nevertheless it is still relatively low by recent historical standards, which indicates that the US is far from full employment. Just look at where the rate was back in last booms of the golden age … Seguir leyendo US Capacity Utilisation is Historically low

Fracking Boom LeadingtoFrackingBust http://feedly.com/k/1aAJWX3 Climate Central has a look at the shale oil boom, quoting Dave Hughes and Arthur Berman – Fracking Boom LeadingtoFrackingBust. Scientists studying oil and gas well production data are beginning to question how long the boom will last, however, suggesting that a shale oil and gas bust may come sooner than expected, even as the industry insists that the boom has … Seguir leyendo Fracking Boom Leading to Fracking Bust

MysteryBehindSpanishBanks’ Extend-And-Pretend "BadDebtMiracle" Revealed http://feedly.com/k/HJiyzu One of the mysteries surrounding the insolvent, and already once bailed out Spanish banking sector, has been the question why reported bad loans – sharply rising as they may be – are still as relatively low as they are currently, considering the nation’s near highest in the Eurozone unemployment rate, and in comparison to such even more insolvent European nations … Seguir leyendo Mystery Behind Spanish Banks’ Extend-And-Pretend «Bad Debt Miracle» Revealed

Can Europe be Saved? Yesit can, saysJamie Galbraith http://feedly.com/k/HNyfWG Jamie explains the relevance of the ModestProposal (co-authored with Yanis Varoufakis and Stuart Holland). There is an alternative! The fulcrum of the Modest Proposal is an public investment-led recovery. In their words: The Investment-led Recovery and Convergence Programme (IRCP) will be co-financed by bonds issued jointly by the European Investment Bank (EIB) and the European Investment … Seguir leyendo Can Europe be Saved? Yes it can, says Jamie Galbraith

IS-LMandEndogenousMoney http://feedly.com/k/HNylxF An interesting discussion here from Steve Keen on loanable funds versus endogenous money in economic models, and a recent comment by Paul Krugman about IS-LM and endogenous money: SteveKeen, “IS–LM (withendogenousmoney),” Debtwatch, November 5, 2013. shared via http://feedly.com Seguir leyendo IS-LM and Endogenous Money

As BitcoinPlunges 25% OnGovernmentScrutiny, TheFirstBTC "FairValue" Reco Has A StunningPriceTarget http://feedly.com/k/HOIASB It took literally minutes following ourreportfromyesterdaythat in addition to the ECB and Fed, it was the Senate’s turn to finally shine the spotlight on the most notorious electronic currency with a hearing titled "BeyondSilkRoad: PotentialRisks, Threats, andPromisesof Virtual Currencies" next Monday, for Bitcoin to tumble 25% from its all time high just shy of … Seguir leyendo As Bitcoin Plunges 25% On Government Scrutiny, The First BTC «Fair Value» Reco Has A Stunning Price Target

TyphoonDeathCountSurpasses 10,000; People "WalkLikeZombiesLookingForFood; MartialLawImminent http://feedly.com/k/19RTu3M When we previewedtheinitial"massive devastation" aftermath of typhoon Haiyan yesterday, when the casualties resulting from the strongest storm to ever make landfall were "only" 1200, we had a feelilng that the final tally would be far worse. And so it is: a day later, the incoming reports confirm that by the time the final death toll is calculated it will … Seguir leyendo Typhoon Death Count Surpasses 10,000; People «Walk Like Zombies Looking For Food; Martial Law Imminent

Böhm-Bawerkhad No TheoryofAdministeredPrices http://feedly.com/k/1bpVPla Occasionally Austrian economists or internet Austrians assert that the theory of administered prices (whether normal cost, mark-up or target rate of return pricing) was actually anticipated or pioneered by Eugen von Böhm-Bawerk. It is alleged that The Positive Theoryof Capital was the source of this, but a reading of that book shows no such thing. Böhm-Bawerk had no theory of administered … Seguir leyendo Böhm-Bawerk had No Theory of Administered Prices