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Niger Delta Development Commission, NDDC, says the current biggest challenge before the commission was payment of contractors owed by the commission. Acting Managing Director of the NDDC, Ibim Semenitari made this disclosure during a forum with newsmen in Abuja. Semenitari revealed that when she assumed office as Managing Director, the NDDC owed more than 8,600 […]

Back in October 2014, just after the BOJ drastically expanded its QE operation, we warned that the biggest risk facing the BOJ (and the ECB, and the Fed, and all other central banks actively soaking up securities from the open market) was a lack of monetizable supply. We cited Takuji Okubo, chief economist at Japan […]

“You Get Nothing” is the message for German bond coupon-clippers as for the first time in history, the average yield across the entire bond complex tumbles to zero. h/t @Schuldensuehner With the yield curve below zero to 9 years, and 1 month yields at -65bps, it is no surprise that asset managers are extending duration… […]

Moments ago, in the first of two closely anticipated and watched votes, a special committee in Brazil’s lower house voted 38 to 27 to begin the impeachment process against president Dilma Rousseff. The committee voted on a report presented last week that concluded Rousseff bypassed Congress in authorizing credits to mask a growing budget deficit. […]

Submitted by Howard Kunstler via Kunstler.com, The mystery is at last revealed: why does the field of candidates for president score so uniformly low in trust, credibility, likability? Why are there no candidates of real substance, principle, and especially of real charm in this scrim of political basilisks? (Surely there are many people of substance […]

Via Michael Snyder’s Economic Collapse blog, The systematic destruction of the American way of life is happening all around us, and yet most people have no idea what is happening.  Once upon a time in America, if you were responsible and hard working you could get a good paying job that could support a middle […]

With every passing day, the Fed is slowly but surely losing the game. Only it is not just former (and in some cases current) Fed presidents admitting central banks are increasingly powerless to boost the global economy, even if they still have sway over capital markets. What is far more insidious to the Fed’s waning […]

Is it sensitive Steve, might it involve opening a bit of can of worms, or some snakes crawling out of there, yes. That’s how the latest “60 Minutes” segment ended on Sunday. The comment was in reference to the final chapter of a Congressional investigative report into 9/11 that has been left out of the […]Read More

When we first warned that something was breaking in the American auto market, the Phil-LeBeau-ians crawled out of the woodwork to explain how everything is still awesome (brushing the weakness in stocks) despite soaring inventories and shrinking credit. Then when used-car prices began to leak lower, a few paid attention and the recent weakness in […]

Submitted by John Whitehead via The Rutherford Institute, “The Founding Fathers never intended a nation where citizens would pay nearly half of everything they earn to the government.” ? Ron Paul If there is an absolute maxim by which the federal government seems to operate, it is that the American taxpayer always gets ripped off. […]

“Intervention in foreign exchange markets in order to gain a competitive advantage is unacceptable,” proclaims US Treasury Secretary Jack Lew in a strongly worded statement today with regard America’s position in the global economy. That we note this comment is only relevant as, despite the apparent “stability” of the Chinese Yuan against the USD, relative […]Read More

About 347 members of the Islamic Movement in Nigeria (IMN) killed by security forces were given mass burial last year, in the aftermath of the Zaria massacre between 12 and 14  December 2015, the movement said in a statement on Monday, disclosing that over 600 of its members were still missing. IMN said the “recent revelations of […]Read More