Business

Back in April 2013, during the height of the IPO scramble, this is how the NYT reported about the initial public offering of a little known NYC grocery chain known as Fairway.

Until recently, Fairway was not much more than a popular market on Manhattan’s Upper West Side, where residents went for goods like smoked salmon, medjool dates and cheeses. Today, it is a fast-growing 12-store grocery chain with ambitions of opening 300 outlets across the country.

 

Remember when the low oil price was an "over-supply" issue and nothing at all to do with the other side of the same coin - dwindling demand? Well it appears that reality is dawning that a record glut combined with tumbling global growth (confirmed by weakness in China PMI, US PMI, and now EU growth expectations) is sending crude prices lower, back to a $43 handle for the June contract...

Yesterday's 'odd' gains in stocks amid dismal data and weakness across every asset class have been entirely erased this morning... in a hurry...

Futures tanked overnight following weak China data and European downgrades...

And cash markets are seeing no bounce at the open...

Since The Fed (and BoJ) Bonds & Bullion are surging...

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Every perverse incentive is the cash cow for a vested interest or cartel.

The wave of anti-hedge fund sentiment that we have predicted ever since 2013 - a direct consequence of centrally planned markets in which central bankers have become marketwide Chief Risk Officers, who intervene every time there is even a 5% drop, and have made risk hedging moot - has finally been unleashed: "in less than seven days, hedge funds have been subject to a three-pronged attack by some of the biggest names in finance," Bloomberg writes.