Last September, when Martin Shkreli was doing his best to become the "most hated person in America" with his highly profiled 5000% price increase of a Turing Pharma toxoplasmosis drug, in an article titled "Dear Martin Shkreli: This Is How You Hike Drug Prices" we said hate him if you must, but not for his price hiking practices for one simple reason: everyone else does that.
Submitted by Ken Wells via OilPrice.com,
“What we have here is a failure to communicate.” That’s what the warden says to Paul Newman in the movie Cool Hand Luke, right after he knocks him into a ditch. The oil and gas industry has its own failure to communicate and the longer prices bump along the bottom, the worse it seems to be getting.
Over the past year, and certainly in the aftermath of the BOJ's both perplexing and stunning announcement (as it revealed the central banks' level of sheer desperation), we have warned (most recently "Negative Rates In The U.S. Are Next: Here's Why In One Chart") that next in line for negative rates is the Fed itself, whether Janet Yellen wants it or not. Today, courtesy of Wolf Richter, we find that this is precisely what is already in the small print of the Fed's future stress test scenarios, and specifically the "severely adverse scenario" where we read that:
Submitted by Michael Snyder via The End of The American Dream blog,
Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country. It appears that the retail apocalypse that made so many headlines in 2015 has gone to an entirely new level as we enter 2016.
Emma Ashford once again urges the Obama administration to halt its support for the war on Yemen:
In his last few months in office, President Obama should take advantage of his executive power to end U.S. support for the war in Yemen, and direct America’s diplomats to aggressively pursue a diplomatic settlement. This war is humanitarian disaster and a strategic failure; ending our support for it should be a no-brainer.