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Riksbank Formally Ends QE But Pledges Continued Dovish Support For Bond Market

While the Riksbank left its repo rate unchanged at -0.5%, as expected, in its decision this morning, far more interesting was the Riksbank’s decision to formally end making new bond purchases, i.e., QE, after almost three years. However, in order to ensure a smooth transition, the Riksbank said the end of QE would take place […]

Whitney Tilson: “I’m Calling The Top Of The Cryptocurrency Madness”, Admits Bitcoin Could Hit $1 Million

There is just one thing that cryptocurrency bulls love hearing more than Dennis Gartman bashing bitcoin, and that is Whitney Tilson bashing bitcoin. The reason is the same: just like Gartman, Tilson has rarely if ever been right about anything -in fact, it is almost safe to say that he has been largely wrong about […]

Bank of Canada Governor Is Right To Be Worried About The Economy

  Bank of Canada Governor Is Right To Be Worried About The Economy Written by Peter Diekmeyer, Sprott Money News       Bank of Canada governor Stephen Poloz cited numerous worries plaguing the economy during his speech to Toronto’s financial elites yesterday at the prestigious Canadian Club. However, the title of Poloz’s presentation, “Three […]

Toronto’s Housing Bubble Is Crushing The Strip Club Industry

Until now, Canada’s soaring housing prices were just another innocent asset bubble spawned by low interest rates and an endless supply of Chinese cash that needed to get laundered.  That said, massive bubbles are almost always followed by severe unintended consequences that can have a crippling impact on society as a whole…and in Toronto those […]

Visualizing The World’s Most Valuable Companies Of All Time

MODERN JUGGERNAUTS LIKE APPLE DON’T EVEN COME CLOSE The Chart of the Week is a weekly Visual Capitalist feature on Fridays. Courtesy of: Visual Capitalist Before speculative bubbles could form around Dotcom companies (late-1990s) or housing prices (mid-2000s), Visual Capitalist's Jeff Desjardins notes that some of the first financial bubbles formed from the prospect of trading with […]

Silicon Valley’s ‘Working Homeless’ Shows How Hard Life Is In “Democrat’s Paradise”

Authored by Mac Slavo via SHTFplan.com, Silicon Valley is the home to tech giants like Facebook, Apple, and Google. It’s also home to a surging working homeless population who live in dilapidated RV’s, tents, and their own cars, all thanks to the policies Democrats love to implement. The surging number of those working in Silicone Valley […]

US Homelessness Rate Rose This Year For First Time Since 2010

Here’s one statistic about the US economy that you probably won’t find in President Trump’s twitter feed. Thanks to a surge in homelessness centered around several large west coast cities, the overall rate of homelessness in the US ticked higher this year, the first increase since 2010, according to a survey from the Department of […]

How “Ghost Collateral” And “Yin-Yang” Property Deals Will Collapse China’s Credit Bubble

One lesson from the 2007-08 crisis was that the vast majority of financial market participants, never mind the general public, were unfamiliar with subprime mortgages until the crisis was underway. Even now, we doubt many have much understanding of repo, the divergence between LIBOR and Fed Funds from 9 August 2007 and Eurodollar liquidity. In […]

Jim Grant Interviews Alan Fournier: “Pension Funds Are So Desperate For Yield, They’re Systemically Selling Vol…”

In the latest installment of RealVision's interview series featuring Jim Grant, longtime publisher of Grant's Interest-Rate Observer, the newsletter publisher sits down with Alan Fournier, the billionaire founder of Pennant Capital, to discuss one of the most widely discussed topics across modern asset markets: Volatility – or rather, the systemic risks posed by not only […]

Frontrunning: November 29

North Korea Missile Launch Shows Ability to Reach D.C. (WSJ) Senate Republicans shove tax bill ahead as Democrats fume (Reuters) British negotiators still working on Brexit deal: Treasury minister (Reuters) Trump Retweets Anti-Muslim Videos From Far-Right U.K. Group (BBG) Bitcoin Futures Provoke Pushback From Market Cops (BBG) Saudis Free Detainees in Sign of Resolutions in […]

Are Markets Really As Calm As They Seem?

Authored by Thorsten Polleit via The Mises Institute, Indicators for financial market "stress" have reached their lowest levels in decades. For instance, stock market volatility has never been this low since the early 1990s. Credit spreads have been shrinking, and prices for credit default swaps have fallen to pre-crisis levels. In fact, investors are no […]

As America Gave Thanks, Homelessness Set New Records In Major Cities All Over The Nation

Authored by Michael Snyder via The Economic Collapse blog, If the economy is doing just fine, then why is homelessness at levels not seen “since the Great Depression” in major cities all over the country?  If the U.S. economy was actually in good shape, we would expect that the number of people that are homeless […]

Hong Kong Property: Record Price Per Square Foot Smashed…Twice…By The Same Buyer

Two weeks ago, we discussed Algebris Investments’ analysis of the world’s biggest asset bubbles. Portfolio manager, Alberto Gallo, noted that “It’s not just about valuation, it’s about irrational behaviour” and used variety of measures to identify the latter including ”Sky is the limit”, “Bidding wars” and “The trend is your friend”. Gallo listed what in […]

Financial Times: Sell Bitcoin Because The Market Is About To Become “Civilized”

On 31 October 2017, we discussed the announcement that the CME Group was responding to client interest and launching a Bitcoin Futures contract before the end of this year. CME stated that the contract would be cash settled based on the CME CF Bitcoin Reference rate, a once-a-day reference rate of the US dollar Bitcoin […]

Congress Discloses Complete Number, Amount Of Harassment Settlements In Past 20 Years

While it’s not surprising that 2007 – the year when spirits were high, housing prices had just hit a record and the financial bubble was about to burst but not yet- was a “swinging one” on the Hill, with a whopping 25 sexual harassment settlements, the most in the past 20 years, we wonder what […]