Submitted by Charles Hugh-Smith of OfTwoMinds blog,
This week I am addressing themes I see playing out in 2016.
A number of systemic, structural forces are intersecting in 2016. One is the rise of non-state, non-central-bank-issued crypto-currencies.
We all know money is created and distributed by governments and central banks. The reason is simple: control the money and you control everything.
Governor Jerry Brown has finally declared a State of Emergency for the gas leak in Porter Ranch, southern California. It is the largest gas leak ever recorded, where a blown-out well has been spewing record amounts of methane gas since October last year. Environmental activist and lawyer Erin Brockovich says it is one of the most significant environmental disasters in recent history. Governor Brown has asked for expediency in plugging the well after the plug was left out by Southern California Gas Company.
By EconMatters
Clear Out Weak Hands in the Market
Via Scotiabank's Guy Haselmann,
Market psychology established in recent years is reversing. Investing has taken on profound psychological aspects during the past few years. Investors have had strong incentives to stay in front of the aggressive actions by global central banks to take advantage of their implicit and explicit desire to ‘do whatever it takes’.
It was less than two months ago when we brought to you the "Macy's Massacre": on November 11, the stock of the iconic retailer crashed 13% and its CDS soared after Macy's announced a trifecta of weak data, reporting a miss on Q3 sales which came at $5.87 billion below the $6.1 billion expected, down from the $6.2 billion, as well as a plunge in comparable store sales which tumbled by 3.9%, far worse than the expected drop of -0.4%, and nearly three times as bad as the 1.4% drop a year ago.