Latest zerohedge.com news
next page »
Diablo 3: A Case Of Virtual Hyperinflation
Submitted by Peter C. Earle via the Ludwig von Mises Institute, As virtual fantasy worlds go, Blizzard Entertainment’s Diablo 3 is particularly foreboding. In this multiplayer online game played by millions, witch doctors, demon hunters, and other character types duke it out in a war between angels and demons in a...
zerohedge.com (52 minutes ago) read full article at zerohedge.com
Visualizing The Cost Of Mining Gold
There are over 3 billion ounces of gold in the world's deposits. The Top 50 of these mines alone contain over one-third of the total gold. North America is the 'cheapest' place to produce gold and Africa the most expensive. Gold producer profits are getting squeezed from both directions: lower gold prices and...
zerohedge.com (1 hour ago) read full article at zerohedge.com
The Pentagon Admits: The "War On Terror" Will Never End
Submitted by Michael Krieger of Liberty Blitzkrieg blog, It is hard to resist the conclusion that this war has no purpose other than its own eternal perpetuation. This war is not a means to any end but rather is the end in itself. Not only is it the end itself, but it is also its own fuel: it is precisely this...
zerohedge.com (1 hour ago) read full article at zerohedge.com
So You Want To Work In JPMorgan's Legendary Gold Vault? This Is Your Chance
For all those whose lifelong ambition has been to work with the recently reappointed joint Chairman/CEO of JPMorgan in the firm's legendary and infamous gold 'clearing' operation (whose formerly classified New York, the largest in the world, and London vault locations were exposed here and here), today is your lucky...
zerohedge.com (2 hours ago) read full article at zerohedge.com
"The Math Is Stacked Against Japan - It's Not 'If', It's When"
As the BoJ prepares to thrill us with even moar in its latest policy meeting (or not as we discussed earlier) and with Amari et al. now jawboning JPY to some extent to control the out-of-control chaos in JGBs, it is perhaps worth taking 20 minutes to comprehend just what all this extreme policy action means. The...
zerohedge.com (3 hours ago) read full article at zerohedge.com
How To Arbitrage The People's Bank Of China
Since there are now numerous hard proofs that China’s export data (and to some extent import data as well) were significantly distorted recently, we naturally wonder the incentives behind the distortion and the detailed mechanism of these manipulations. As BofAML notes, there are four reasons why the distortions...
zerohedge.com (4 hours ago) read full article at zerohedge.com
Global Assured Destruction, Or How Bernanke Now Holds The Entire World Hostage
The one headline we have been waiting for for over four years has just hit: BOK KIM SAYS WORLD MAY FACE RATE RISK IF U.S. EXITS FROM QE Not when, if. And there you have it: if the Fed exits, the world (and most certainly Japan) gets it. Thus, for the sake of the children (who will have inhert about $100 trillion in...
zerohedge.com (4 hours ago) read full article at zerohedge.com
IRS' Lois Lerner To Plead The Fifth Before House Oversight Committee
For an affair that numerous media outlets will have you believe has been spun out of all proportion, and that it really is the conservatives fault that the IRS was targeting them, it is somewhat ironic that the IRS official who opened up the entire Pandora's box with her targeted apology two weeks ago, and who...
zerohedge.com (5 hours ago) read full article at zerohedge.com
Bank of Japan Policy Meeting Preview - Chance Of A Bond Crash?
Excerpted via Bill Blain of Mint Partners, The current Bank of Japan policy meeting is possibly the most important thing going on this week (even more so than Bernanke's comments perhaps). If, as is distinctly possible, they don’t do anything to reinforce the immediacy of the Kuroda QQE package, we could be looking...
zerohedge.com (5 hours ago) read full article at zerohedge.com
Beware These Unseen “Friction” Costs!!
Brokers, placement agents, middle men, promoters, consultants, financial intermediaries…call them whatever you wish. They have existed in the financial space since man invented a way to exchange one thing of value for another. Share This Article with a Friend! Some do a fine job, provide a valuable service and...
zerohedge.com (5 hours ago) read full article at zerohedge.com
The Housing Unrecovery Is Here: Lumber Enters Bear Market
Despite the incessant belief that this must be too-much-new-supply-driven (as opposed to a lack of demand for new home construction), Lumber futures (after hitting limit down once again today) have now officially entered bear-market territory. Front-month lumber prices are down 23% from their highs in mid-March and...
zerohedge.com (6 hours ago) read full article at zerohedge.com
And The New US Debt Ceiling Is...
The grace period between February and mid-May, when the US spent like a drunken sailor without regard for even structural limitations, and raked up over $300 billion in debt, or said otherwise when it was without an official debt limit, is over as of this weekend as we reported, and starting Monday the clock has...
zerohedge.com (6 hours ago) read full article at zerohedge.com
19 Out Of 19
The Dow completes its 19th week in a row with a green close on a Tuesday - there are no superlatives left. As a gentle reminder, since February 1st, the Dow has gained 9.85%; absent Tuesdays it is up a mere 0.5%. Despite equity strength, bonds rallied, VIX rallied, the USD ranged violently (Fed's Bullard and Dudley)...
zerohedge.com (7 hours ago) read full article at zerohedge.com
"The Approximate Present Does Not Approximately Determine The Future"
Chaos Theory turns 50 years old this year, celebrating half a century of flapping butterfly wings in Brazil creating tornadoes in Texas. That most famous example is especially appropriate, since it was a meteorologist named Edward Lorenz who first outlined why seemingly consistent and knowable systems can still go...
zerohedge.com (7 hours ago) read full article at zerohedge.com
Farage Bashes Tax-Advantaged Hypocritical European Politicians
With Tim Cook being fried on Capitol Hill, it is perhaps ironic that the issue of taxes is front-and-center in the European parliament today. However, as usual, the always-willing-to-tell-the-truth Nigel Farage points out the gross hypocrisy of a political elite calling for higher taxes (on the wealthy and more...
zerohedge.com (8 hours ago) read full article at zerohedge.com
Is It Time To Buy Apple As A Valuation Play? The Contrarian That Called The Top In Apple Weighs In
All who have followed me over the last three years know I've taken a very strong stance on the mobile computing wars, their prospective winners, losers and the benefits/pitfalls to be had from such intense competition. Outside of possibly Goldman Sachs , the most controversial, blindly beloved company that...
zerohedge.com (8 hours ago) read full article at zerohedge.com
Tuesday Humor: The Story So Far
Presented with no comment... (h/t Monty Pelerin's World blog)
zerohedge.com (8 hours ago) read full article at zerohedge.com
Goldman Confirms 'Recovery' Hopes Have Gone As 'Slowdown' Deepens
With US Macro no longer the clean dirty shirt, the 'hope' of a recovery from the Spring swoon has faded rather quickly according to Goldman's latest Global Leading Indicator (though obviously not David Kostin). The modest April pick up - driven mainly by sentiment indicators as opposed to hard data - has faded as...
zerohedge.com (8 hours ago) read full article at zerohedge.com
INTRoDuCiNG EURO CRiSiS CouTuRe 2013...
. . . . . . . . . . .
zerohedge.com (8 hours ago) read full article at zerohedge.com
Chart Of The Day: S&P 500 vs EBITDA
When it comes to the corporate bottom line, there is a reason why the smart money has long since given up on Net Income, Earnings Per Share or any other such equity-specific variant: it is the one metric traditionally gamed by management teams who know that legacy investors and algos look solely at EPS (whether it...
zerohedge.com (8 hours ago) read full article at zerohedge.com
Guest Post: Centralization And Sociopathology
Submitted by Charles Hugh-Smith of OfTwoMinds blog, Concentrated power and wealth are intrinsically sociopathological by their very nature. I have long spoken of the dangers inherent to centralization of power and the extreme concentrations of wealth centralization inevitably creates. The Master Narrative Nobody...
zerohedge.com (10 hours ago) read full article at zerohedge.com
Latest Stolper Fiasco: Goldman Stopped Out On Long EURHUF, 2.86% Loss In One Month
Curious how to trade those Goldman recommendations, such as today's uberbullish "strategic" call seeing nothing but blue skies all the way through 2015? Here is a quick reminder courtesy of your friendly FX wizard, Goldman's Tom Stolper. Trade Update: Close Long EUR/HUF Recommendation after stop is hit On April 18...
zerohedge.com (10 hours ago) read full article at zerohedge.com
Germany Fires Live Ammo In Sino-European Trade War ... At Brussels
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter The solar-panel industry, once fattened by taxpayer subsidies and false hopes, has been in a death spiral around the world. In the US, a slew of photovoltaic standouts like Solyndra went under, taking billions of subsidies and investor...
zerohedge.com (10 hours ago) read full article at zerohedge.com
Dudley Terrified By "Over-Reaction" To QE End, Says Fed Could Do "More Or Less" QE
Up until today, the narrative was one trying to explain how a soaring dollar was bullish for stocks. Until moments ago, when Bill Dudley spoke and managed to send not only the dollar lower, but the Dow Jones to a new high of 15,400 with the following soundbites. DUDLEY: FED MAY NEED TO RETHINK BALANCE SHEET PATH,...
zerohedge.com (10 hours ago) read full article at zerohedge.com
Herbalife Hires PWC As New Accountant; Will Reaudit 2010, 2011 And 2012
Following the dismissal of KPMG over insider trading 'issues', Herbalife has just announced it will be hiring PricewaterhouseCoopers as their new auditor: *HERBALIFE HIRES PRICEWATERHOUSECOOPERS :HLF US *HERBALIFE SAYS PWC TO RE-AUDIT FY10, FY11, FY12 :HLF US Indications point to a modest rise from the pre-halt...
zerohedge.com (11 hours ago) read full article at zerohedge.com
The Gold/Silver Canary In The Coalmine
In general when equity prices are rising and credit spreads are tightening, the ratio of gold-to-silver prices falls as 'fear' ebbs away and confidence in a real economy returns as exemplified by the rise of risk assets. Twice before we have seen the anti-correlation of stocks and gold/silver flip to a highly...
zerohedge.com (11 hours ago) read full article at zerohedge.com
Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever
Two years ago, Zero Hedge first made the observation that the bulk of Fed reserves (also known simply as "cash created out of thin air" because money is first and foremost fungible no matter what textbook theoreticians may claim, and the only cash allocation preference is the capital allocation IRR analysis) had...
zerohedge.com (11 hours ago) read full article at zerohedge.com
Rainy-Day Economics…
Originally Posted http://www.tothetick.com/rainy-day-economics Margaret Thatcher might have been the perfect housewife that got Britain off to a good start or at least that’s what she would have liked us all to have believed when she was in power. The prefect Grantham housewife, so simple: never spend more than you...
zerohedge.com (12 hours ago) read full article at zerohedge.com
Apple's Tim Cook Defends The Firm's Tax Policy Before The House - Webcast
Yesterday we opined on the deteriorating situation surrounding the much anticipated government scramble to collect perfectly legal offshored capital, initially focusing on Apple (which having now entered the focus of the US government will be nothing but an "negative externality" free utility going forward or as...
zerohedge.com (12 hours ago) read full article at zerohedge.com
Silver Recoups Sharp Loss And Rises 2% On Record Volume
Today’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce. Yesterday’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce. Gold climbed $19.40 or 1.43% yesterday to $1,384.30/oz and silver finished 2% higher. Silver’s recovery yesterday from being 10% lower at one stage to recouping...
zerohedge.com (12 hours ago) read full article at zerohedge.com
