Business

If it feels like just two weeks ago when Jeffrey Gundlach was spewing almost daily fire and brimstone about the future of the market is because that's precisely when he was doing just that.

Recall on February 8 when we wrote that in an email exchange with Reuters, the DoubleLine chief said "credit fund bankruptcies are coming," adding that "it's not a market to be flopping around in. The trends are relentless and powerful."

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

Nigeria’s currency (the naira) has been officially pegged in a range of 197-199 NGN/USD for nearly a year. But, that’s a phony government rate. As shown in the accompanying chart, the black market (read: free market) rate has exploded since October, and currently stands at 350 NGN/USD.

Submitted by David Stockman via Contra Corner blog,

The Red Chip casino took another one of its patented 6.5% belly flops this week. In fact, more than 1,300 stocks in Shanghai and Shenzhen fell by 10% - the maximum drop permitted by regulators in one day - implying that the real decline was far deeper.

For the 10th week in a row (14th in last 15), the US oil rig count declined (down 13 to 400) to its lowest since Dec 2009. For now oil prices are undecided as while efficiency trumps the actual decline, the fact that the rig count is dropping so fast suggests production may come under pressure sooner rather than later.

• *U.S. OIL RIG COUNT DOWN 13 TO 400, BAKER HUGHES SAYS

As the rig count tracks lagged oil prices perfectly...

Oil is unsure how to react for now...

Submitted by Michael Snyder via The Economic Collapse blog,

Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“.  Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country?