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Back in late 2014 and early 2015, this website soundly mocked any and every economist that suggested that plunging oil prices – in a globalized economy where oil has been financialized beyond recognition and impacts every asset class, the stock market, global trade flows, and international diplomacy – is “unambiguously good.”  It wasn’t and it […]Read More

US equity markets rebounded by the greatest amount ever in Q1 to end the quarter with a “keep the dream alive” positive return. This ‘central-bank’-sponsored bounce occurred as S&P 500 earnings expectations plunged 9.6% – the biggest quarterly collapse since Q1 2009. As FactSet details, During the first quarter, analysts lowered earnings estimates for companies […]Read More

An unprecedented leak of more than 11 million documents, called the “Panama Papers“, has revealed the hidden financial dealings of some of the world’s wealthiest people, as well as 12 current and former world leaders and 128 more politicians and public officials around the world. More than 200,000 companies, foundations and trusts are contained in […]Read More

For the first time in history, more people are obese than underweight, according to a new study. In 1975, more than twice as many people were underweight than obese… Behind the global spike is greater access to cheap food as incomes have risen. “It’s been very easy, as countries get out of poverty, to eat […]

From Nicholas Colas at Convergex Our basket of unorthodox economic indicators shows an American economy in a state of flux.  On the plus side, used vehicle prices remain stable and pickup truck sales still show positive comps to last year.  Light vehicle dealer inventories at 68 days supply are normal for this time of year, […]

The housing bubble (part deux) with resultant “rental tax” thanks to Fed policies offering record rental incomes is the new source of cash flow for retirees with means, who have given up on bonds yielding next to nothing and become landlords with large portfolios of rentals…and soaring housing prices alongside declining wages will ensure young can’t buy […]Read More

What do Lloyd Blankfein, Jamie Dimon, James Gorman, John Thain, Jimmy Cayne, and any of the revolving door of AIG CEO’s have in common? Three things come to mind rather quickly: 1) All were financial executives during the 2008 global financial crisis. 2) All of their firms received massive public bailouts. 3) None of them […]

One of the more prominent names featured in the Panama Papers disclosure is that of Iceland’s Prime Minister Sigmundur David Gunnlaugsson. The reason is that according to the leaked files, Prime Minister Sigmundur David Gunnlaugsson and his wife secretly owned a company called Wintris set up in 2007 on the Caribbean island of Tortola in […]

After last night’s oddly drafted letter by the Greek PM Tsipras (which contained a combination of typed text and scribbles) to IMF head Lagarde in the wake of the Wikileaks revelation which was interpreted by many, the Greek government included that the IMF would seek a “credit event” to facilitate its debt-reduction negotiations with Angela […]

Ilojo Bar Small Res Dreams From My Roots, a solo photo exhibition by Ayodele Ojo aimed at promoting Nigeria’s rich cultural heritage through architecture and design and remembering the influence of the European style detailing on African architecture during colonial era, has come and gone, but the lessons learnt are instructive. “I realised that Nigerians are most likely […]Read More

PDP Press Statement In line with the decision of the National Executive Committee (NEC) of the Peoples Democratic Party (PDP), the National Chairman, Sen. (Dr.) Ali Modu-Sheriff has constituted the four special committees in preparation of the PDP National Convention and the overall rebuilding and repositioning of the party. The Committees, which are to be […]