The Mess That Greenspan Made - Part 40

Tuesday Morning Links

MUST READS
China exports fall for fifth straight month – MarketWatch
Oil price could hit $20 as Opec ditches quotas – The Times
OPEC Takes Down Oil Majors on Lower-for-Even-Longer – Bloomberg
Deteriorating junk bonds flash warning signs for stocks – MarketWatch
Economist’s Criticism of Federal Reserve Policies Gains Ground – NY Times
Republican Ted Cruz vaults into first place in new Iowa poll – Reuters
Donald Trump’s Islamophobic rhetoric resonates with many Republicans – Vox
Wealthy Muslims helped Donald Trump build his empire – Quartz
HuffPost moves Trump to politics section after Muslim comments – The Hill
A Note on Trump: We Are No Longer Entertained – Huffington Post
Trump rejects criticism of his proposal to ban Muslims – AP
Anti-Trump Effort Launches Super PAC – WSJ
America and France Turn Right – RCP

MARKETS/INVESTING
Asian stocks drop in wake of oil-price plunge – MarketWatch
Hillary Clinton: How I’d Rein In Wall Street – NY Times
Oil tumbles to lowest level in 7 years – CNN/Money
Energy Stocks Drag Down Emerging Markets – Bloomberg
Here are the odds that U.S. stocks will rise in 2016 – MarketWatch
Mexico’s Central Bank Steps In as Peso Tumbles on Fed Rate Bets – Bloomberg
Gold steadies on dollar and shares; Fed rate hike view weighs – Reuters
Hedge Funds Again Hold Record Short Bets In Gold – CFTC – Kitco
Paper Money Versus The Gold Standard: An Explanation – Epic Times
Anglo American to shed 85,000 jobs – CNN/Money

ECONOMY/WORLD/HOUSING/BANKING
When Inequality Kills – Project Syndicate
The neglected drop in Gross Planet Product – voxeu
Finland Wants to Replace Welfare With a Minimum Income – reason.com
Venezuela elections: Turning point for world’s worst economy? – CNN/Money
Japan’s Economy Wasn’t in Recession in 3rd Quarter, Data Show – Bloomberg
Muslim Minority Clashes with the ‘China Dream’ in Increasingly Wild West – Vice News
‘Feed the People Smog’: Beijing’s Red Alert Spurs Online Derision – WSJ
Mario Draghi, once a hero, faces ‘the new mortality’ – MarketWatch
Could Higher Interest Rates Lead to Higher Inflation? – WSJ

 

Monday Morning Links

MUST READS
BIS argues for tighter monetary policy – Financial Times
BIS: ‘Uneasy’ market calm masks debt timebomb – Telegraph
France elections: Le Pen says political elite ‘crumbling’ – BBC
Finland to Give Every Citizen, Rich or Poor, $870 a Month – TakePart
Turkey, Russia Fallout Over Downed Warplane Deepens – Bloomberg
Obama: Increase Gun Control, Reject Islamophobia – Slate
Obama’s not-so-peppy pep talk – Politico
End the Gun Epidemic in America – NY Times
The Most Pressing Issue in 95 Years – National Review
Clinton explains why she won’t say ‘radical Islam’ – CNN
Some Trump Backers Growing Wary of His Rhetoric – Real Clear Politics
From Risk to Guarded Expectation of Recession – Hussman Funds
The Cult of Draghi – Credit Bubble Bulletin

MARKETS/INVESTING
Global stock markets cheered by US jobs report – AP
S&P 500 will creep up to 2,200 in 2016, J.P. Morgan says – MarketWatch
Bond Trader Hubris Reaches Inflection Point as Fed Liftoff Looms – Bloomberg
Don’t Assume a Fed Action Will Move the Market – Shiller, NY Times
Emerging Market Debt Sales Are Down 98 Percent – Bloomberg
Oil prices stuck below $40 a barrel after OPEC decision – MarketWatch
Goldman Sachs: Oil Won’t Stabilize Until Late 2016 – Barron’s
Gold retreats from three-week high as U.S. jobs boost dollar – Reuters
Gold majors trading at just 4% of in-situ metal value – Mining.com
China’s Gold Army – BullionStreet

ECONOMY/WORLD/HOUSING/BANKING
Preparing for the next recession – Washington Post
The Endless Parade of Recession Calls – Calculated Risk
US Exports & Manufacturing Debacle Covered up by Oil – Wolf Street
The Labor Force, Jobless Claims and the Business Cycle – Advisor Perspectives
South Africa Says Foreign Deposits Sufficient After Downgrade – Bloomberg
Venezuela’s opposition party wins parliament in a blow to Maduro – CNN
Chinese Demand for Aussie Homes Drops as Much 15%, McGrath Says – Bloomberg
Will El Nino hammer the housing market? – Orange County Register
Kuroda Lagging Behind ECB’s Negative Rates Shows Limited Options – Bloomberg
The folly of the Fed’s expected rate decision, in 1 graph – The Week

 

Terrorism and Faith in San Berdu

The Los Angeles Times covers last night’s vigil in San Bernardino mourning the loss of life due to what increasingly appears to be homegrown Islamic terrorism in the U.S.

A nice composite photo of the victims can be found here.

 

Friday Morning Links

MUST READS
Mario Draghi riles Germany with QE overkill – Telegraph
ECB disappointment halts U.S./euro zone yield divergence for now – Reuters
Draghi’s Weeks of Rhetoric Culminate in ECB Stumble on Stimulus – Bloomberg
Draghi’s campaign to boost euro zone prompts losses – Irish Times
ECB chief Mario Draghi may set precedent for US Fed chief Janet Yellen – FR
All Heck Breaks Loose after Draghi Fails to Outdo his Own Hype – Wolf Street
How will we respond to the San Bernardino shooting? – Newsday
GOP candidates double down on guns – Politico
Why the NRA is so powerful – Vox
Breaking News! – Gross, Janus Capital
Could the Fed Have Prevented the Financial Crisis? – PragCap
Auto Loan Madness Continues as Car Buyers Take On Record Debt – Zero Hedge

MARKETS/INVESTING
Global stocks slip as investors await US job data – AP
Hot ETFs Crushed After ECB Underwhelms – Barron’s
Japan stocks slide most in two months after ECB disappointment – MarketWatch
Bonds Tumble by $270 Billion as Draghi, Yellen Batter Markets – Bloomberg
U.S. 10-Year Yield Posts Biggest 1-Day Rise Since July 2013 – Nasdaq
Citi Turns Bearish On Stocks, Sees 65% Recession Probability -Zero Hedge
China’s markets to get emergency brakes in 2016 – CNN/Money
Gold inches lower as dollar rebounds ahead of U.S. jobs data – Reuters
How are Silver and Gold Bullion Premiums Calculated? – Visual Capitalist
No Reason To Hold Gold In 2016; Prices To Drop Below $1,000 – Natixis – Kitco

ECONOMY/WORLD/HOUSING/BANKING
Price Index Bias and Obsession – TSI Blog
Factory Orders Suggest What’s Next – Alhambra Partners
Strong job growth is a really a sign of weakness – MarketWatch
German Factory Orders Rebound After Three-Month Drop – Bloomberg
Brazil’s First Female President Faces Impeachment – Daily Caller
Faced With Crises, Brazil Focuses on Rousseff Impeachment – NY Times
Housing market looks strong for 2016, sales expected to hit 6M – Daily News
Why Negative Interest Rates Are Becoming the New Normal – NY Times
Of Debt, Central Banks and History Repeats – True Economics
Why the Fed Has to Raise Rates – of two minds

 

Compare and Contrast

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