Business

Standard and Poor's credit rating analysts for the state of New Jersey, David Hitchcock and John Sugden, apparently think that funding only half of your state's annual actuarially determined contributions is a bad thing...who knew?  So, just to make sure we achieve crystal clarity here, S&P believes that adding to NJ's $66 billion pension underfunded liability, which would be much higher but for a ridiculous assumption the state makes in setting its return on assets at an artificially high rate of 7.65%, each and every year by contributing less to the fund than what is

Roughly a year ago we wrote about perhaps the most notable bank heist in history in which a group of hackers used Swift, the interbank messaging system, to steal $81 million from the Central Bank of Bangladesh.  Here's our recap: 

Authored by Lance Roberts via RealInvestmentAdvice.com,

On Wednesday, as I discussed yesterday, the Fed hiked rates and despite the fact that hiking interest rates further tightens monetary policy, thereby reducing liquidity to the markets, the markets rallied anyway.

A couple of research reports released overnight by Deutsche Bank and Bank of America, respectively, come to a sobering conclusion: the fate of the global economy may be in the hands of the Chinese housing bubble. As a reminder, China is a serial bubble inflator courtesy of a closed (capital account) economy, and nearly $30 trillion in bank deposits which slosh from one asset class to another, be it the stock market, bitcoin, commodities, farm animals or - most often - housing.

One. Big. Squeeze...

It was quite a week for 'uncertainty' as Europe's VIX crashed to record lows, and FX and Rate vols plunged after the Fed move and Dutch elections...