The Mess That Greenspan Made - Part 10

Christmas Fails

Some of these look painful, for example the guy at about the 3 minute mark.

Don’t know where the girl putting on tire chains appears…

A Good Time for a Little Escapism

Given what’s going on in the world, particularly after recent events in Paris and San Bernardino, a little escapism via one of the world’s most successful movie franchises seems perfectly reasonable at this juncture, however, a lot of people really seem to be getting carried away with the release of the latest Star Wars movie, all of which recalls this Saturday Night Live skit with William Shatner many years ago.

One Zachary Feinstein, professor of electrical and systems engineering and/or financial engineering (depending upon which news story you read) at the School of Engineering & Applied Science at Washington University in St. Louis, has hopped on board the Star Wars mania detailing Why the Star Wars rebel alliiance needs a central bank and there’s more on this subject from Bloomberg here and from Washington University here.

Friday Morning Links

MUST READS
Did Fed Jump the Gun With a Rate Hike? – Barron’s
Ukraine halts $3bn Russia debt repayment – BBC
Fed will have to reverse gears fast if anything goes wrong – Telegraph
David Rosenberg: Fed’s rate hike not all that dovish – Financial Post
Fed Raised Rates Without a Hitch, and It Only Took $105 Billion – Bloomberg
Raised interest rates may end biggest merger boom the world has ever seen – Guardian
Returnee from ‘Caliphate’: IS Recruiting for Terror Attacks in Germany – Spiegel
France fears church attack over Christmas – The Local fr
Humans Hitting Driverless Cars Expose a Key Flaw – Bloomberg
Budget bill leaves no boondoggle behind: Column – USA Today
From Russia with love: Putin, Trump sing each other’s praises – Reuters
For Republicans, bigotry is the new normal – Washington Post

MARKETS/INVESTING
5 things to know before the open – CNN/Money
The Junk Bond Rout That Wasn’t – NY Times
How Social Media Can Feed Investors’ Panic – WSJ
History of Junk Bond Meltdowns Points to Trouble – Bloomberg
Japan’s shares slide on stimulus disappointment – BBC
Ask Matt: Will the Fed kill the bull market? – USA Today
Hedge-Fund Casualties Jump to 257 in Q3 Amid Rout – Bloomberg
Gold recovers from biggest dip in 5 months after Fed rate rise – Reuters
2016 To Usher In A ‘New Chapter’ For Gold – ScotiaMocatta – Kitco
Gold and the Federal Funds Rate – Acting Man

ECONOMY/WORLD/HOUSING/BANKING
Stores prep for crush of last-minute Super Saturday shoppers – USA Today
Is the economy suffering growing pains, or the rheumatics of old age? – Telegraph
White House calls for ‘common sense steps’ to help Puerto Rico – Reuters
China suspends price adjustment for gasoline, diesel – China Daily
Japan core CPI seen flat in November, household spending down – Reuters
BOJ keeps base money target, launches plan to promote capex, wages – CNA
Millennials hesitant to enter national housing market due to rising debt – KTAR
What a $1 million home looks like in 20 different cities – MarketWatch
Secular Trends in Residential Building Permits and Housing Starts – AP
Marc Faber: This is ‘precisely the wrong time’ for Fed to hike – CNBC

 

Mission Accomplished

Fed whisperer Jon Hilsenrath of the Wall Street Journal gives central bank chief Janet Yellen a big pat on the back for yesterday’s first interest rate hike in nearly a decade, a move that, by nearly all accounts, was just what the world needed.

Of course, history shows that asset bubble don’t really get their groove on until the Fed starts raising rates, so, we’ve got that to look forward to now…

Thursday Morning Links

MUST READS
The Fed’s Uncertain Leap Forward – WSJ
Finally! Fed raises interest rates – CNN/Money
The Janet Yellen Era Starts Here – New Yorker
The Fed wants to raise interest rates. But can it? – The Week
Federal Reserve embarks on historic new era of higher interest rates – MarketWatch
Economists React to the Fed’s Interest-Rate Decision: ‘When Is the Next Hike?’ – WSJ
Shkreli, CEO Reviled for Drug Price Gouging, Arrested for Securities Fraud – Bloomberg
After $200 Billion Stock-Market Rescue, China Now Probing Rescuers – WSJ
Candidate Dropouts: Who & When Could Alter Race – Real Clear Politics
Hey, Republican establishment: it’s time to panic – Vox
Feud between Rubio and Cruz rages on – Politico
Donald Trump’s Brainfart Fascism – reason.com
Trump’s Commanding Performance – Lifezette

MARKETS/INVESTING
Stocks set to continue Fed-fueled Santa rally – MarketWatch
Saxo Bank’s 10 Outrageous Predictions for 2016 – PRNewswire
First U.S. rate rise in decade sends dollar to two-week high – Reuters
Don’t Fret, The Dollar Will Still Hit Parity Vs. Euro, SocGen Says – Barron’s
Every events that has moved crude in the past two years – MarketWatch
Junk Bond Derivative Index Saying Something Scary About Defaults – Bloomberg
Gold drops on dollar after first Fed rate rise in almost a decade – Reuters
Despite Pre-Fed Rally, Gold Could Still Hit $1,000/oz – Jim Rogers – Kitco
World Gold Council outlook for 2016 – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
Killing Entitlements Would Make Inequality Worse – Bloomberg
Everyone loves warm December…except stores – CNN/Money
The Eurozone crisis. Was it all bad German economics? – longandvariable
A huge underclass of ghost workers are making your shirts in their homes – Quartz
Thailand Keeps Arresting People for Insulting the King — and His Dog – Vice News
China Ghost Town Developer to Avert Default as Xi Prevents Risks – Bloomberg
Puerto Rico Warns of Looming Default Without Bankruptcy Plan – NY Times
Average Manhattan apartment now costs over $1 million – AFP
On US Interest Rates – Project Syndicate
It’s big banks: 1, savers: 0 – CNN/Money

 
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