This weekend Hurricane Irma is set to unleash hell over Florida, resulting in devastation and damages worth tens of billions of dollars... and many hedge funds are on the hook ahead of their own coming balance sheet "catastrophe."
Authored by Mike Shedlock via MishTalk.com,
In his latest Email article, Steen Jakobsen, Saxo Bank Chief economist and CIO has a bold prediction about interest rates.
With nearly everyone, even Janet Yellen at the Fed, predicting wage-induced inflation, Jakobsen makes a bold call in the opposite direction.
This is a guest post by Steen Jakobsen
Steen’s Chronicle: All Great Things are Simple, Except Right Now
Authored by Charles Hugh Smith via OfTwoMinds blog,
Labor's share of the national income is in freefall as a direct result of the optimization of financialization.
US crude production collapsed this week with most of Texas offline and we would expect rig counts to have continued to stabilize (if not fall) following the lagged track of WTI, and they did - oil rigs dropped 3 to 756, the lowest since June.
As a reminder, Crude production in the Lower 48 collapsed...
This is the biggest week-on-week fall since August 2012, when Hurricane Isaac shut in more than 1.3 million barrels a day of Gulf of Mexico production.
WTI prices tumbled today after China refinery cut headlines...
Amazon may have the most razor thin margins in the entire retail world, but that doesn't mean that its peers can't catch up as the global race to the deflationary bottom enters its final stage.