United States

"The market is moving so quickly, yesterday felt just like the stock market in June last year before the crash," warns one Asian trader reflecting on the chaotic rush of Chinese speculators into the industrial metals commodities market Echoing the frenzy that fueled China's parabolic stock market rise (and subsequent collapse), Bloomberg notes one local China broker admits "we’ve seen a lot of people opening accounts for commodities futures recently," adding rather ominously, "the great ball of China money is moving away from bonds and

In an interview posted on Swiss Finanz und Wirthschaft, Jeff Gundlach unleashes his deep ir, and in traditional style, offloads on both the Fed and all central banks, sayng that "negative interest rates are the dumbest idea ever", adding that the Fed has given up both trying to normalize interest rates as well as trying to actually stimulate the economy:

Submitted by Eric Bush via Gavekal Capital blog,

The gold/silver ratio recently took out 2009 highs and the gold/copper ratio is at its highest level since 2009. This is a negative signal that US inflation, using CPI, could be headed for another leg lower. Since 2008, the gold/silver ratio has had a -73% correlation to the year-over-year change in US CPI (with a 2-quarter forward lag for the gold/silver ratio) . So as the gold/silver ratio increases, the year-over-year change in the CPI tends to fall.

Washington Launches Its Attack Against BRICS

Paul Craig Roberts

Having removed the reformist President of Argentina, Cristina Fernandez de Kirchner, Washington is now disposing of the reformist President of Brazil, Dilma Rousseff.

For the latest indication of how bad the recession in the US sector field is, we took a look at last night's Schlumberger results which were modestly better than expected, beating expectations of $0.37 by one cent, however as usual the non-GAAP adjusted bottom line did not tell the full story. The Company's net income plunged nearly 50%, to $501 million, or 40 cents a share, from $975 million, or 76 cents, a year earlier.