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June 26, 2017 | Mad Hawk Disease Strikes Federal Reserve

“A serious writer may be a hawk or a buzzard or even a popinjay, but a solemn writer is always a bloody owl.” – Ernest Hemingway Image: Magalle L’Abbe via Flickr Welcome to the new, improved, faster-to-read, better yet still-free Thoughts from the Frontline. My team and I have been doing a lot of research on what […]

June 25, 2017 | The Right to be Remembered

Like many other people in the online era, Mario Costeja González found himself in an uncomfortable situation: When people Googled his name the top result was a piece of potentially embarrassing information from his now-distant past. But unlike many other people in the online era, he did something about it: He went to court. The […]

June 25, 2017 | Mr. Math

  Thomas is the kind of guy you probably hated when you were eleven. He teaches math. He expects the world to be logical, orderly and transparent. Numbers don’t lie. They lack emotions. So if only everybody could be guided by the same data set, we’d all be cool. “I think a key component of […]

June 25, 2017 | Two Italian Banks Fail: Bail-In Rules Changed to Protect ECB and Political Class from Losses?

On Friday the ECB Shut Down Venice-based Veneto Banca and Banca Popolare di Vicenza as failed or failing banks. The bailout cost is purportedly €5.2 billion ($5.8 billion), but costs nearly always exceed initial projections. Under the announcement, senior bondholders and depositors will be protected. The European Central Bank said Banco Popular was “failing or likely to […]

June 25, 2017 | A Rigged Game

76 years ago, “Joltin’ Joe” DiMaggio was in the middle of the hitting streak of streaks that would come to 56 consecutive games and which has remained a major league baseball record to this day. That season (1941), the Yankee Clipper would bat .408 during the epic streak or more than 4 hits for every […]

June 25, 2017 | A Central Planner’s Perspective on Money, Society, and Economics!

The MACRO perspective of a Central Planner starts with a viewing of our world at the global and/or planetary level! Planet Earth is one family of 7.4 billion people (now all interconnected)! Our Central Planners must now think of the entire global community as they plan their policies! As consumers and investors we look at […]

June 25, 2017 | Britain on the Edge of Collapse?

  So far, Prime Minister Theresa May has been unable to form a majority government. She is now officially on the clock and being unable to strike a deal means her government will fall apart. Negotiations with the Democratic Unionist Party, a far-right Northern Irish outfit whose support seems necessary for her to win the vote, […]

June 24, 2017 | Drone Video of Solar and Powerpacks Fueling Kauai

The silent power of these installations is truly awesome to behold. Very exciting time to be alive. There are other larger Powerpack projects, like the 80 MWh Powerpack station with Southern California Edison, but the fact that this one helps the whole island run almost entirely on renewable energy makes it an especially interesting showcase. See:  An incredible […]

June 24, 2017 | The Fed’s Balance Sheet Lives in Cyberspace! The Meaning!

The name of our Central Bank is the Federal Reserve. This private corporation (operationally) has a current balance sheet which totals some $4.5 trillion. Most of this quantity has arisen since 2008. Some $3.7 trillion of new $$$ were created from the consciousness of our Fed policymakers. These $$$ (virtual/digital units) were then spent to […]

June 24, 2017 | ECB Declares Two Italian Banks Have Failed

The European Central Bank (ECB) has announced as of June 23rd, that it was declaring two Italian banks insolvent. Veneto Banca SpA and Banca Popolare di Vicenza SpA have failed since the two banks repeatedly violated the regulatory capital requirements. The determination was made in accordance with Article 18 (1a) and Article 18 (4a) of […]

June 23, 2017 | Let’s Go

For the past nine years this blog has been rolling history. Every day it sticks its pink little proboscis into the breeze and sniffs for change. So far there has been 2,695 posts containing more than two million words. That’s 33 books. In response, the people who come here have posted 490,000 comments. That works […]

June 23, 2017 | Tracking Oil’s Swan Song

While Wall St. and traders are preoccupied with daily crude support levels, the real story is the growing race by producers to cash out before ‘black gold’ goes the way of coal and the 8-track. In years previous, articles about the quaint idea of using solar and wind as a primary energy source were only […]

June 23, 2017 | Make the Dollar Honest Again

PORTLAW, IRELAND – Last night, we drove over to the harbor town of Dungarvan for dinner. The Irish countryside was idyllic – with rolling hills, forests, and hayfields. Then, arriving at Dungarvan, we saw the Atlantic shining in the distance. Down at the harbor, the tide was out. Boats lay in the mud on their […]

June 23, 2017 | Bond Market Reaction to Housing

In light of the highly-touted strength in new home sales with prices at record highs, one might have expected US Treasury yields to soar. Let’s take a look at what did happen. No Reaction Rate Hike Odds Drop Big Yawn In addition to the bond market letting out a big yawn, rate hike odds did […]

June 23, 2017 | Today’s Digital $ not official ‘legal tender’ money! Why?

The 1965 Coinage Act was the official legislation which established what can be used as ‘legal tender’ money in USA. Also, the 1978 Electronic Funds Transfer Act establishes the process of transferring $’s from digital accounts but it does not make a virtual $ ‘legal tender’.  For any dollar to be legal tender it must […]

June 22, 2017 | Let these Projects Go Forward: B.C. Residents Send a Clear Message

It’s time to explode the carefully nurtured myth that British Columbia residents are opposed to the Trans Mountain Pipeline Expansion and Site C. That just ain’t so, according to a new poll from the Angus Reid Institute.   Residents of the province are a practical bunch, and when it comes to building long-lasting energy infrastructure […]

June 22, 2017 | The Landing

Update time: First, Sears surrenders. As prefaced here yesterday, the company which was once our largest retailer is going down for the count. Sears Canada is bankrupt, announcing on Thursday the first 55 locations that will be shuttered, erasing the jobs of about three thousand people (without severance pay). Sears has been a disaster for […]

June 22, 2017 | Central Banks are Architects of Global Stagnation and Insolvency

For the past 20 years, the world has careened from one greater and greater insolvency shock to another. Each time, central banks have been summoned to the ‘rescue’ deploying increasingly more aggressive monetary magic. But after 9 years at near zero rates and trillions in asset buying to extend and pretend the appearance of economic […]

June 22, 2017 | Why Tax Cuts Won’t Make Us Richer

And perhaps you’re alive And perhaps you’re dead Hoo ha ha Hoo ha ha HOO HOO HOO KNOCK KNOCK KNOCK KNOCK KNOCK KNOCK KNOCK KNOCK KNOCK – “Fragment of an Agon,” T.S. Eliot PORTLAW, IRELAND – We’ve always wanted to quote the lines above. But we never had the right occasion. Perhaps this is it. […]

June 22, 2017 | Citizens Will Soon Turn their Rage Towards Central Bankers

Via Email, I received an interesting article from Albert Edwards at Societe Generale. Edwards claims citizens will soon turn their rage towards Central Bankers. In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their […]

June 21, 2017 | Welcome to Deflation

People are just starting to grasp why deflation is also present in the USA. Despite all the screaming about Quantitative Easing, most remain confused why hyperinflation has not taken place. Most are Oblivious to the fact that there is a dynamic process involved that is a lot more complex than traditional economics teaches in school. Sorry, […]

June 21, 2017 | Oil Futures Hourly: Maybe a bottom? Three-wave symmetry…

A symmetrical (A)-(B)-(C) three wave move…could be a near-term bottom.  With everyone bearish a good time for Mr. Market to do what he does best.  

June 21, 2017 | Investors Have Become Brain Dead

DUBLIN – Oil fell below $43 yesterday. Brick-and-mortar retailers are being emptied. The auto industry – including $1.2 trillion in auto debt – is stalling. Meanwhile, restaurants are having trouble filling their tables. Consumers aren’t buying, perhaps because their incomes have gone approximately nowhere for decades. House ownership is at its lowest level in half […]

June 21, 2017 | Sucks

  First the bad news. Then the worse news. Then you’ll end up wondering why you ever started reading this post. I gave up and went directly to a single malt. Good luck. Late Tuesday night blog dog Adam sent this note: Garth: RBC just started laying off in their headquarters for Canadian Banking. HR […]

June 21, 2017 | Oil Breaking Bad (Some More)

West Texas Crude is down another 2% so far this morning, back to levels seen last in November 2016.  The song remains the same:  slow global demand and gushing supply all over the planet.  Data on Friday showed a record 22nd consecutive week of increases in U.S. oil drilling rigs, not to mention leaping production […]

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