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Saudis Boost Gas Prices by 40%, Dismantle Welfare State To Wage War With U.S. Shale

Earlier today, we parsed Saudi Arabia’s budget report in order to determine if the kingdom’s fiscal nightmare was better or worse than market expectations. 

As it turns out, it was better. This year’s deficit is expected to come in at around 15-16% of GDP, considerably below the 20% some analysts feared. For 2016, it looks as though the number should be somewhere in the neighborhood of 13%, broadly in line with expectations. 

"The Mood Is Tipping" - German Economic Pessimism Surges Following Refugee Influx

"The Mood Is Tipping" - German Economic Pessimism Surges Following Refugee Influx

In one of the most comical expressions of failed Keynesian logic, two months ago, Deutsche Bank boosted its German GDP forecasts as a result of the "surge in immigration" - because no crisis can be wasted, the record influx of Syrian (and ISIS?) refugees...

... was to be immediately spun as being for the greater good. This is what DB predicted would happen:

More Mutual Funds Liquidating: Whitebox Calls It Quits

It may not be the latest junk bond-heavy mutual fund, but moments ago another iconic name in the asset management arena, Andy Redleaf's Whitebox Advisors threw in the towel on rigged markets and announced that it, too, has closed its mutual funds ahead of a January 19, 2016 liquidation.

 

According to the funds' overview, "Whitebox Mutual Funds are managed by Whitebox Advisors LLC, (“Whitebox” or the “Adviser”) an SEC-registered investment adviser, founded and led by visionary investment manager Andrew Redleaf."

US Economy - A Year-End Overview

Submitted by Pater Tenebrarum via Acting-Man.com,

Hiking Into a Slowdown

It becomes ever more tempting to conclude that the timing of the Fed’s rate hike was really quite odd, even from the perspective of the planners – even though the U3 unemployment rate has fallen to a mere 5% and they are probably correct about the transitory nature of the currently very low headline “inflation” rate (as we have recently pointed out, actual monetary inflation currently stands at almost 8% y/y).

 

 

 

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