Well it has arrived. The ECB stress test of European banks today on Sunday is expected to see  at least 20 percent to nearly 40 percent of all European banks fail. They just cannot understand raising taxes reduces disposable income and thus the economy, borrowing, and investment – dah! European banks are not doing well even […]

The International Monetary Fund has been forced to change the calculation of its most important interest rate after aggressive monetary easing around the world threatened to turn it negative. Late on Friday, the IMF said it is introducing a floor of 0.05 percent for the interest rate on Special Drawing Rights, its own form of […]

The assumption of the hyperinflationists has been that governments will just print to meet their obligations. That theory is based upon revolutionary government who CANNOT SELL debt to anyone. In the case of the West, we issue debt and because of that, the first effort is to meet the demands of bond-holders. That is only […]

Vladimir Putin has effectively accused the Obama Administration and the United States on Friday of endangering global security by imposing a “unilateral diktat” upon the rest of the world. Putin also denied trying to rebuild the Soviet empire at the expense of Russia’s neighbors and has stated bluntly: “We did not start this.” On this score, Putin […]

There was nearly a 50% jump in the number of Americans rushing to renounce their citizenship. It is more than just not paying taxes, the FATCA rules are so outrageous, Americans have been thrown out of everywhere from Asia to Europe. Plain and simple, FATCA is destroying the American capability to deal internationally. People who […]

  The Dow Closed above 16660 and this now opens the door for a rally to test the 17000 level reaching a high perhaps on Thursday. We need the see a closing ABOVE at least 17010 to imply that the test of the Weekly Bearish Reversal that held at 15960 may hold. The major support […]

  We have a very serious problem with Hillary. I was asked years ago to review Hillary’s Commodity Trading to explain what went on. Effectively, they did trades and simply put winners in her account and the losers in her lawyer’s. This way she gets money that is laundered through the markets – something that […]

Politicians are just insane and Hungary illustrates how desperate governments can get. They are proposing to impose a new tax on Internet data transfers in the 2015 tax bill that was just submitted to parliament. This amazingly stupid move could devastate the Internet and telecoms providers as well. The draft tax code actually proposes a provision […]

In a speech this week, New York Federal Reserve Board President William Dudley addressed pervasive misconduct within the financial industry, refusing to dismissively lay the blame on a few bad apples. “The problems originate from the culture of the firms, and this culture is largely shaped by the firms’ leadership,” Dudley said. He offered some interesting suggestions on industry compensation practices, […]

Goldman Sachs and Blackstone are private equity investors buying up rental property in Madrid. About 13,000 household were told their rents would not increase. Now in a down market, when their renewals come due. they are told their rents will rise sharply or get out. Now a judge will decide who, if anyone, is to blame. […]