It’s been an ugly week for Chinese equities, but today’s performance is a whole other level of ugly: Today marked the fourth largest decline of the Shanghai Composite in two decades. We’ve discussed the insane valuations on the Shanghai and Shenzen stock-exchange before. As our regular readers will know, today’s fireworks have been a long time in […]
For those who haven’t yet seen Nigel Farage’s latest rant against the absurdity of European “democracy”, this is classic Farage. Please watch and pass this on! Partial Nigel Farage transcript European Parliament, Strasbourg, July 15, 2014 as transcribed by NotQuant: “If this is European democracy in action this morning, I suggest we have a re-think” […]
Just over two weeks ago, Bernie Madoff’s accountant finally plead guilty to fraud after six years of defending himself. He was sentenced to 30 years in prison at the age of 78. While he admits to falsifying records, to this day he claims he had no idea that Madoff was running a ponzi scheme. The prosecution has called […]
With no commentary required – No doubt the hurricane will also have a severe impact on the West coast economy as well. We eagerly await the attempts to link Arthur to consumer spending in California.
Charles Hugh Smith has penned a great set of arguments for why the Fed must taper. It’s a great piece and we won’t print it all here, so go and give it a read if you haven’t already. We like his general argument, but we read it with a healthy skepticism. Why? Because […]