The Mess That Greenspan Made - Part 19

Thursday Morning Links

MUST READS
Are markets holding the Fed hostage? – CNN/Money
Negative Rates Strain Financial System – Bloomberg
Is it Time for Helicopter Money? – Project Syndicate
Is the world economy having a 2008 moment? – Guardian
The Great Investment Advice in Warren Buffett’s Annual Letter – Fortune
Warren Buffett’s extraordinary delusion about America – Sovereign Man
Socialists, look to economists at UMass Amherst for support – Boston Globe
Republicans Liked Ben Carson, But Not Enough To Vote For Him – Five Thirty Eight
“How Can I Move to Canada” Searches Spiked 1,150% on Super Tuesday – Anti-Media
White High School Students Using Anti-Latino ‘Trump’ Chants – Vice News
Romney to give speech on presidential race – Politico
Why Trump Now? – NY Times

MARKETS/INVESTING
Stocks: 4 things to know before the open – CNN/Money
Stocks, oil dip, but markets calm as growth fears ease – Reuters
Swedroe: EM Looks Terrible Right Now – Time To Buy – ETF.com
Wall Street’s big short: President Donald J. Trump – Reuters
Why Big Investors Are Finally Pulling Their Money Out of Hedge Funds – Fortune
Former Chesapeake Energy CEO dies in single-car crash day after indictment – Guardian
Wall Street trading volume signals stock rally isn’t sustainable – MarketWatch
Gold edges back above $1,240/oz as equities retreat – Reuters
After the Gold Rush: Record Cash Just Flooded Into Gold ETFs – Barron’s
Who’d you thank for surging gold price? Thank Donald Trump – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
Seeing Economic Patterns That Don’t Exist – Bloomberg
Oregon Sets New High for Minimum-Wage – WSJ
Brazil’s economy shrank 3.8% in 2015 – BBC
Rosenberg: Canadian economy not so dead, after all – Financial Post
China’s Other Growth Figure Is Flashing a Warning – Bloomberg
China’s massive state company layoffs could triple to 6 million people – Quartz
Japan Feb services PMI falls to seven-month low, new business slows – Reuters
Trudeau’s Message to World: Let Government Spending Do the Work – Bloomberg
San Francisco’s Perfect Storm – Dotcom And Housing Bust Combined – Contra Corner
Are Central Banks Exaggerating Deflation Risks? – Marc to Market

 

For someone who will turn 90 this Sunday, he seems pretty sharp…

The Fed Chairman they once called Maestro thinks that negative interest rates “warp” investor behavior (something that you just don’t say when you’re sitting at the head of the big table at the Eccles Building) and that he hasn’t been optimistic in “quite a while”.

Wednesday Morning Links

MUST READS
Trump, Clinton Win Big – Reuters
Super Tuesday Winners & Losers – RCP
The Trump Tipping Point – The Atlantic
Cruz pins his hopes on two-man race – Politico
Trump: Ryan can get along with me or ‘pay a big price’ – The Hill
The Republican Party is truly, profoundly broken – Vox
Recession will lead to eurozone collapse, warns French bank – Telegraph
Moody’s cuts China outlook on eve of NPC, cites reform, fiscal risks – Reuters
Billions moved out of China right under the government’s nose – MarketWatch
The Great Recession Worsened Drug Abuse Among White Men – WSJ
Shale Oil Isn’t Saudi Arabia’s Only Nemesis – Bloomberg
Corporate Default Rate Jumps Past Lehman Moment – Wolf Street

MARKETS/INVESTING
US stock futures struggle as oil retreats – MarketWatch
Nikkei leaps 4% as global rally continues in Asia – CNN/Money
Oil below $37 as U.S. inventory rise counters output freeze plan – Reuters
Here’s what could trigger the next global market meltdown – MarketWatch
Just 6% of companies make 50% of U.S. profit – USA Today
Why Is Investor Sentiment So Bad? – U.S. News & World Report
Gold down as robust U.S. data lifts dollar, equities – Reuters
Warning of another string of mining bankruptcies in 2016 – Mining.com
The COMEX vs. Private Gold & Silver Eagle Stocks – SRSrocco Report
Great Graphic: Gold Triangle–Continuation or Reversal Pattern? – Marc to Market

ECONOMY/WORLD/HOUSING/BANKING
Still Manufacturing – Alhambra Partners
Why Has Heterodox Economics Become Orthodox – Prag Cap
The U.S. Could Use a New Economic Strategy – Bloomberg
The implications of Brexit for the rest of the EU – voxeu
Anti-Immigrant ‘Soldiers of Odin’ Expand Across Europe – Vice News
Death and Despair in China’s Rustbelt – Bloomberg
The 12 States with the Hottest 2016 Housing Markets – Fiscal Times
Understanding the Federal Reserve’s Shell Game – Mises
Central Bankers Admit Failure – Washingtons’ Blog
Dudley the Dove – Fed Watch

 

John Oliver Does Not ♥ Donald Trump

What was once considered a benign, yet target rich, environment for comedians (i.e., Donald Trump’s run for president) has, to the surprise of many, turned into something much, much scarier, prompting this intervention by John Oliver in advance of Super Tuesday voting.

Also see A New Chrome Extension Makes Donald ‘Drumpf’ Again from Wired, for anyone wishing to banish the name Trump from their browser.

Tuesday Morning Links

MUST READS
How Super Tuesday could rock the stock market – CNBC
Fed’s Dudley sounds warning on US economy – Financial Times
Helicopter Money Might be Closer Than You Think – Bloomberg
Bondholders pay Japanese government to lend it money – Irish Times
Barclays shares fall 11 percent on results and restructuring – BBC
Citi: Worrisome Change in the Market for New Corporate Debt – Bloomberg
Glenn Reynolds: Cash is the currency of freedom – USA Today
Would eliminating the $100 bill really cut crime? – LA Times
‘Brexit’ Vote and Donald Trump’s Surge Reflect Discontent – NY Times
The myth and the reality of Donald Trump’s business empire – Washington Post
Trump, Sanders and the Aftershocks of 2008 – Bloomberg
Trump’s Il Duce Routine – NY Times

MARKETS/INVESTING
Stocks: 5 things to know before the open – CNN/Money
The great corporate earnings fraud – Burning Platform
Is the global stock market party truly over? – CNBC
Falling Margin Debt and Major Turning Points – Advisor Perspectives
March may be the best chance yet for a stock market rally – MarketWatch
Gold extends gains after biggest monthly rise in 4 years – Reuters
Taurus: Gold Likely to Surge as High as $1,400 – Bloomberg
4 Gold Charts That Will Confuse Bulls And Bears – Investing Haven
It’s Too Late to Buy Gold – Bloomberg Gadfly
“Golden Cross” for Gold – U.S. Funds

ECONOMY/WORLD/HOUSING/BANKING
Chicago PMI signals contraction in factory activity – MarketWatch
Brexit scares over jobs and investment are simple fallacies – Telegraph
China’s PMI Reports Show Slowdown Deepening as Services Slip – Bloomberg
China Headlines: China signals stronger pro-growth policy stance – xinhuanet
The Refugee Bill: Budget Battle Begins over Germany’s New Residents – Spiegel
Argentina settles creditor dispute with $4.6bn deal after marathon negotiation – Guardian
Two banks sound alarm bells on Vancouver’s runaway housing market – BNN
Why many millennials are still staying away from homeownership – LA Times
Will central banks experiment with negative rates work? – xinhuanet
Central Banking for Dummies – Hambone’s Stuff

 
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