BalticDryBearMarketIndex http://feedly.com/k/19DGYUs As much as we loathe saying "we told you so" – especially when it relates to highlighting the fallacious bullshit of one James Cramer – the truth is that just 3 weeks ago we pointed out the fact that the Baltic Dry Index was being heralded as proof of China’s (and therefore the world’s great recovery) was a mistake. At the time, wenotedthetemporarynatureofthemoveandnowforwardmarketsindicateditwasnotsustainable; … Seguir leyendo Baltic Dry Bear Market Index

Meanwhile, InBitcoin… http://feedly.com/k/Hk1v6G Just lastweekwenotedthatthecryptocurrencywasquietlysurgingtowardsrecordhighs once again as the debacle in Washington, China’s comments on the USD, and Baidu’s acceptance of Bitcoins all interplayed to disrupt what many called he end of Bitcoin following the shuttering of Silk Road. Just yesterday, Bitcoin rose to almost USD235, within touching distance of April’s record high… but then thismorning, itcollapsedtounder $175 (as its liquidity reflected NFLX not global … Seguir leyendo Meanwhile, In Bitcoin…

TheUtilitarianMathSays: TheTop 1% ShouldPayan 80% Marginal Rate: EmmanuelSaezandThomasPiketty: Noted http://feedly.com/k/1c1ESOG EmmanuelSaezandThomasPiketty: Whythe 1% shouldpaytaxat 80%: In the United States, the share of total pre-tax income accruing to the top 1% has more than doubled, from less than 10% in the 1970s to over 20% today (pdf). A similar pattern is true of other English-speaking countries…. Other OECD countries… have seen far less concentration of income … Seguir leyendo The Utilitarian Math Says: The Top 1% Should Pay an 80% Marginal Rate: Emmanuel Saez and Thomas Piketty: Noted

Divisas: “Muy bien, el euro es fuerte; vaya, el euro es caro” http://feedly.com/k/16yOodE “El euro es la moneda más fuerte del mundo, un año y medio después de que fueran numerosos los que marcaron una cruz sobre ella”, indica De Volkskrant. Por vez primera desde noviembre de 2011, la moneda única vale más de 1,38 dólares por euro. El euro también se ha apreciado en … Seguir leyendo Divisas: “Muy bien, el euro es fuerte; vaya, el euro es caro”

RumorsOfSpain’sHousingMarketResurrection Are GreatlyExagerated http://feedly.com/k/16yO7rb Two days after Spain reported its first positive sequential GDP print (unclear just how adjusted the definition of GDP was to get to this watershed moment after 9 quarters of declines) and a day after it unemployment supposedly dropped more than expected (what was left unsaid is that the Spanish working age population dropped 85,200 in Q3 and -279,000 YoY and … Seguir leyendo Rumors Of Spain’s Housing Market Resurrection Are Greatly Exagerated

Mario Draghi’sWorstMonetary Zombie-InfestedNightmareJustGotWorse… InTwoCharts http://feedly.com/k/1drKANt As frequent readers will recall, one of our favorite series of posts describing the "Walking Dead" monetary zombie-infested continent that is Europe is the one showing the abysmal state Europe’s credit creation machinery, operated by none other than the Bank of Italy’s, Goldman’s ECB’s Mario Draghi, finds itself in. As a reminder, it was as recently as Septemberwhenwefoundthat "Mario Draghi’s … Seguir leyendo Mario Draghi’s Worst Monetary Zombie-Infested Nightmare Just Got Worse… In Two Charts

La huelga general de la Marea Verde en el sector de la Educación ha sido un exito en España, pero al ministro Wert no le preocupa demasiado: a los diputados del Grupo Popular les ha dicho que su mayor problema es que por primera vez un periodista lo ha acusado de corrupción. Y además no sólo a él, sino a sus dos esposas: la primera,Edurne Uriarte, de profesión “tertuliana” y profesora, de la que … Seguir leyendo El ministro Wert y sus dos mujeres, acusados de corrupción, pese al auxilio del ministro Sebastián (PSOE)