Author Archive: Jeremy Parkinson
Russia Ruble Plunges To New Record Low After OPEC Decision
Spot the difference… Tick for tick lower with crude… at WTI tests as low as $67.75 The last time we were here, chatter of intervention saved the Ruble but since then the central bank has suggested it would let the currency float freer… and seriously devaluaing since the peak in oil… Or as Shinzo Abe […]
Minsky Moment Misses The Point
It has become common for journalists and analysts refer to the Minsky Moment. Most recently, there have been numerous references to China having reached such a moment, which as far as I can tell, is used to mean some kind of peak in what the writer believes is an over-extended market. In this Cool Video, a leading […]
SeaDrill Shares Plunge 23% After Board Suspends Dividend
Shares of offshore drilling contractor, SeaDrill Limited (SDRL – Snapshot Report), plunged 23% to touch a 52-week low of $15.93 as the company’s board of directors decided to suspend dividend payments. Offshore drilling market softness owing to drastic decline in oil prices for most of the third quarter, along with falling day rates and heightened competition due to oversupply […]
Will The Gold Price Recover To $1,400?
Gold has been pretty flat this week compared to last week. That is a remarkable performance after the strong spike of last Friday, however, when the Chinese central bank announced that it is going to lower interest rates. The more expansive policy of the European Central Bank also caused a spark. Mario Draghi announced that […]
How Bloomberg’s Algo-Writers Serve The Cult Of Keynesian Central Banking
If you ever needed proof that the financial press has been completely indoctrinated in the cult of Keynesian central banking consider the attached Bloomberg note on the recent tiny decline in Chinese industrial company profits. Without breaking for anything more than a comma, its hapless Hong Kong stringer, one Malcolm Scott, conjoined the fact of less profits with the imperative […]
The Sellside Chimes In On The Crude Crush: “This Will Reverberate For Years”
The sell-side is worried… SocGen’s head of oil research Mike Wittner warns “this will reverberate for years”… (via Bloomberg) OPEC decision to keep output target is “unambiguously bearish,” “We are entering a new era for oil prices, where the market itself will manage supply, no longer Saudi Arabia and OPEC” “It’s huge,” he says by phone […]
November 2014 Chicago Purchasing Managers Barometer Rises And Falls Like A Rollercoaster
Econintersect: The Chicago Business Barometer declined 5.4 points after increasing 5.7 points last month, driven by a large decline in new orders. The market expected the index between 62.0 and 65.0 (consensus 63.2) versus the actual at 60.8. A number below 50 indicates contraction. From the authors of the index: The Barometer‘s decline reversed nearly all […]
4 Steps For Avoiding A Capital “C” Catastrophe
When the tech and real estate bubbles burst, many of my friends lost 40-50% of their retirement portfolios almost overnight. Whether you’re at the tail end of the baby boomer generation or already retired, lopping 40-50%—or more—off the value of your nest egg would be catastrophic. Which begs the question: is a similar downturn looming? Take […]
8 Black Friday Tips To Help Stay Sane This Year
Black Friday (Thursday?) is quickly approaching, and whether you see it as a daylong spend-a-thon or a blight on American consumer culture, the fact remains—it can be crazy out there. Last week, I asked what were some of the craziest Black Friday moments you’ve ever witnessed, and wow… just wow. I was able to glean […]
The Risks With Using Email For Business
Email is an incredibly useful tool for businesses dealing with basic information. However, using email to communicate with customers and other businesses can pose a serious risk for your business if you don’t take the proper precautions. Because of the risks inherent in unencrypted email communications for hackers and identify thieves, businesses are warned to […]
