Via ConvergEx's Nick Colas,
The Energy names in the S&P 500, as measured by the S&P Energy Select Sector Index, haven’t broken their August lows in the recent downdraft for the group.
That’s surprising for two reasons.
With sadly ironic timing, we noted just last week that the blowback from "unequivocally good" low oil prices was set to cross the border from an increasingly suicidal Canada, and so, as AP reports, it appears Alaska is facing the toughest of times. As oil prices make new cycle lows, Alaska Gov. Bill Walker has called for the state's first income tax in 35 years in order to close a $3.5-billion-dollar deficit the state is carrying.
Submitted by Alasdair Macleod via GoldMoney.com,
One can understand the Fed's frustration over the failure of its interest rate policy, and its desire to escape the zero bound.
Submitted by Brandon Smith via Alt-Market.com,
In my last article, I outlined the deliberately engineered trend toward the forced “harmonization” of national economies and monetary policies, as well as the ultimate end goal of globalists: a single world currency system controlled by the International Monetary Fund and, by extension, global governance, which internationalists sometimes refer to in their more honest public moments as the “new world order.”
Submitted by Jeffrey Snider via Alhambra Investment Partners,
Now that Kinder Morgan has come out with a massive dividend cut, I think it will get harder to ignore that this isn’t just about crude oil prices and the death of “transitory.” There is a financial element here that is perhaps even more important.