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President of the World Bank, Dr. Jim Yong Kim is billed to arrive Nigeria this morning on a three-day visit barely four months after the visitation of the Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde. Kim is expected to arrive the Nnamdi Azikiwe International Airport, Abuja by 9a.m. is to be […]

George Uboh, the serial fraudster who sensationally accused the Economic and Financial Crimes Commission of diverting proceeds of recovered assets was Monday convicted and sentenced to three years imprisonment by Justice S. E. Aladetoyinbo of the Federal Capital Territory High Court Abuja, for his role in converting the property of the defunct Police Equipment Foundation […]

One week ago we were surprised to learn that no matter what the market was doing, whether it was going up, down or sideways, Bank of America’s “smart money” (institutional, private and hedge funds) clients, simply refused to buy anything, and in fact had continued to sell stocks for a near-record 12 consecutive weeks.  In […]Read More

Submitted by Claire Bernish via TheAntiMedia.org, As it turns out, Hillary Clinton and Donald Trump share something pertinent in common, after all — a tax haven cozily nested inside the United States. This brick-and-mortar, nondescript two-story building in Wilmington, Delaware would be awfully crowded if its registered occupants — 285,000 companies — actually resided there. […]

Moments ago, in its latest update, Case Shiller pointed out that for another month “Home prices continue to rise twice as fast as inflation.” Actually that is an understatement: in two-third of the tracked metro areas, the pace of home appreciation over the past year was 6% or higher, or equivalent to three times as […]

With Manufacturing PMI at multi-year lows and trending lower, why would anyone be surprised that, amid plunging profits in retailers and weakness in restaurant performance indices, Markit’s preliminary Services PMI for April would bounce for the 2nd month in a row to  52.1. However, as Markit notes, despite th emodest pickup, “growth is clearly far […]Read More

Following the weakness in Philly and Dallas Fed regional – fading off Feb/Mar dead cat bounces – Richmond Fed’s epic 9-standard-deviation biggest spike ever to 7 year highs in March appears to have been a one of as it fell back from 22 (3rd highest ever) to 14 (still above expectations) – the biggest drop […]

We’re gonna need more money-printing. Consumer Confidence dropped in April to 94.2, missing expectations of 95.8 and hovering at its lowest in 2 years. In fact, the current level is relatively unchanged since the end of QE3, despite all the recent surges in stocks as the post-2009 94% correlation between the S&P 500 and confidence […]Read More

Submitted by Michael McDonald via OilPrice.com, $240,000. More than British Prime Minister David Cameron earns per year. Back in 2013, Oilprice.com published an article about a cook on an Australian offshore platform earning this kind of salary during the heydays in the oil sector. But things have changed in the oil patch. For many years […]

As European countries deal with the current refugee crisis, each is taking a slightly different approach in response to the escalating situation. In Norway, which has been shocked by the unfolding events in neighboring Sweden which has seen a mass revulsion at the ongoing refugee onslaught (and which recently announced it won’t accept any more […]

Submitted by Charles Hugh-Smith of OfTwoMinds blog, Japan has proven that decay can be stretched into decades, but it has yet to prove that gravity can be revoked by central bank monetary games. Japan’s fiscal and monetary extremes are in the news again: this time it’s the Bank of Japan’s extraordinarily large ownership of Japanese […]Read More

Exxon Mobil has been rate AAA by S&P since 1930 according to Bloomberg. Today that ended as the global crude explorer with sales that dwarf the economies of most nations was cut to AA+ (Outlook stable). Having been put on notice in February (negative watch), citing concern that credit measures would remain weak through 2018. […]