[KR858] Keiser Report: Defaulting is New Black

We begin the New Year with a look at the latest Markets, Finance, Scandal! We look at the economic indicators quacking like a recession duck – from the S&P to the Chicago PMI, more and more indices are indicating things are as bad as during the last financial collapse of 2007-2009. We also discuss ‘the next subprime trade’ as house prices rise while incomes decline, share prices rise as earnings decline and mom and pop investors pour into ‘low cost’ ETFs but may end up costing them ultimate price of total wealth destruction. And, finally, we look at the energy pumper (Saudi Arabia) and the credit pumper (the USA) trying to destroy their upstart competitors by flooding the market with their own product.

230 comments on “[KR858] Keiser Report: Defaulting is New Black
  1. Flopot says:

    “Moments ago gold finally broke out above the $1,100 resistance level which so many sellside experts warned it would never be able to cross again…

    … while that “other” currency, bitcoin, has soared by 5% overnight, not on some idiotic narrative about a Russian pyramid schemer’s website, but because of what we first warned in September (when bitcoin was at $225): the more the Yuan devalues, the faster Chinese depositors will seek to circumvent China’s capital controls and convert their increasingly less valuable money into either other currencies (via bitcoin), or into gold.

    http://www.sott.net/article/309899-Gold-soars-after-China-sells-record-amounts-of-reserves-to-defend-its-currency

  2. Flopot says:

    Lol. The cryptos are giving away the game with their double-speak. Here’s Igor…

    “Erdogan alleged that a “mastermind” was behind the growing tensions, whose aim was to “shatter” the Muslim world.”

    Thankyou, Igor, for confirming you guys (as easy as AZE) are doubling down in your determination to start a regional war.

    They seem to be strangely desperate, even hysterical for a war. Expect false flags galore.

    http://www.veteranstoday.com/2016/01/07/erdogan-claims-anti-saudi-protests-led-by-evil-mastermind/

  3. Flopot says:

    *giving the game away

  4. Flopot says:

    Ah Merkel, what do they have on you? Or are you carrying out a mission?

    http://www.sott.net/article/309911-US-puppet-Merkel-working-to-destroy-Europe-from-within

  5. poopysnot says:

    @Flopot re: “Moments ago gold finally broke out above the $1,100 resistance level..”

    silver too, it’s up 2.5%, broke its 50-day moving average today =)

    http://www.zerohedge.com/news/2016-01-07/silver-surges-key-technical-level

  6. Flopot says:

    I wonder if it is a breakout moment…probably not.

  7. bbrebozo says:

    Remember all those future city scenes with cars flying through the air that never materialized?

    Well, they are here.

    The-MEGADRONE-big-carry-passenger-Chinese-firm-says-self-flying-craft-used-smart-taxi

    But, I think I would watch for a while to see the failure rate before getting into one of them myself. Drones do drop from the sky after all. But, perhaps this one has more fail safe mechanisms than some cheap drone toy.

  8. ronron says:

    i see Bonn is still drinking. :-)

  9. Flopot says:

    His drink has gone flat ;)

  10. ronron says:

    @Flopot. ha. good one. the PM’s are climbing a wall of worry.

  11. poopysnot says:

    Macy’s to Begin Cutting Jobs in Early 2016
    https://www.youtube.com/watch?v=DuIWF0xhvwo
    wochit Business – Jan 6, 2016

    Department store chain Macy’s, which lowered its full-year earnings expectations for the second time, said it would cut jobs and consolidate its operations, starting early 2016.

    The company said it expects to generate about $400 million in savings beginning this year. Warm weather, low spending by tourists and a pileup of unsold inventory prompted Macy’s to cut its full-year forecast in November, raising wide concerns about the retail sector’s financial health.

    The company said that about 3,000 employees will be affected, with about 50 percent expected to be placed in other positions.

    Macy’s to cut jobs, shut stores amid weak holiday sales
    http://www.reuters.com/article/us-macys-redundancies-idUSKBN0UK2HA20160107
    Jan 6, 2016

    SolarCity to Lay Off Hundreds of Workers
    https://www.youtube.com/watch?v=45-6KIsMl6g
    wochit Business – Jan 6, 2016

    Solar panel installer SolarCity said it would cut 550 jobs in Nevada, two weeks after the state’s utilities commission approved changes that would reduce credits customers receive for selling excess solar power to the grid. The company, which has more than 13,000 employees, said it would relocate the affected workers to business-friendly states.

    SolarCity announced on December 23 that as a result of the state’s decision, it had to cease solar sales and installation in the state effective immediately. Other Nevada solar companies with higher cost structures than SolarCity are expected to collectively lay off thousands of additional Nevadans in the coming months.

    SolarCity to cut 550 jobs in Nevada
    http://www.reuters.com/article/us-solarcity-employment-idUSKBN0UK1SA20160106?feedType=RSS&feedName=domesticNews
    Jan 6, 2016

  12. poopysnot says:

    Stock Market ‘Very Dangerous’ Right Now Due to Fed Antics
    https://www.youtube.com/watch?v=62ROK4o48Jg
    Peter Schiff – Jan 7, 2016

    How the market, left, has been treating long investors, right, so far in 2016. pic.twitter.com/t5KHHkBVoZ— Rudolf E. Havenstein (@RudyHavenstein) January 7, 2016

    ///

  13. poopysnot says:

    Andrew Hoffman – It’s a Mad, Mad, Mad, Mad, Mad World
    http://financialsurvivalnetwork.com/2016/01/andrew-hoffman-its-a-mad-mad-mad-mad-mad-world/
    January 7th, 2016 (Audio)

    A Unique Tactical Opportunity: Sell High, Buy Low
    https://www.youtube.com/watch?v=rhTHYZiwkHg
    Bullion Management Group Inc. – Jan 7, 2016

  14. poopysnot says:

    The FAMINE stocks are all down today. pic.twitter.com/pNaLBLahSy— Rudolf E. Havenstein (@RudyHavenstein) January 7, 2016

    lol

  15. ronron says:

    @Poopy. thank for introducing me to Rudy. :-)

  16. poopysnot says:

    @ronron – He’s the best! :)

    ~He should come onto the KR~

  17. ronron says:

    @Poopy. i don’t tweet. this guy is fantastic. i love sarcasm. Flopot calls it laconic. .

  18. ronron says:

    @Poopy. are you Rudy?

  19. poopysnot says:

    @ronron – yeah, I don’t tweet either ;) He’s a genuine master of gallows humor =)<

  20. poopysnot says:

    @ronron – nooo hahaha… :) I wish my sense of humor was as good as his!

  21. ronron says:

    @Poopy. you humour is unique. ha. ;-)

  22. poopysnot says:

    @ronron – heythanks ..you shine as well brother! =)

  23. ronron says:

    @Stacy. where is the fucking PPP?

  24. ronron says:

    @Vonda. are there now border checks in Europe? if so i think it is a good thing.

  25. ronron says:

    @Vonda. i know in the past i thought free movement was a good thing. i have changed my mind.

  26. Flopot says:

    If you’re wearing the right sort of pants then free movement is not a problem…

  27. Flopot says:

    Zio-pants(tm)

  28. Flopot says:

    End of an ending.