Tag Archives: Tyler Durden

Chart Of The Day: Recession Dead Ahead?

By Tyler Durden

The chart below showing the annual increase, or rather, decrease in US factory orders which have now declined for 6 months in a row (so no one can’t blame either the west coast port strike or the weather) pretty much speaks for itself, and also which way the US “recovery” (whose GDP is about to crash to the 1.2% where the Atlanta Fed is modeling it, or even lower is headed.

https://i0.wp.com/www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/03/Factory%20Orders%20YY.jpg

As the St Louis Fed so kindly reminds us, the two previous times US manufacturing orders declined at this rate on an unadjusted (or adjusted) basis, the US economy was already in a recession.

https://i0.wp.com/www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/03/fed%20recession%20NSA.jpg

And now, time for consensus to be shocked once again when the Fed yanks the rug from under the feet of the rite-hike-istas.

We Live In An Era Of Dangerous Imbalances

by Tyler Durden

The intervention by the world’s central banks has resulted in today’s bizarro financial markets, where “bad news is good” because it may lead to more (sorry, moar) thin-air stimulus to goose asset prices even higher.

The result is a world addicted to debt and the phony stimulus now essential to sustaining it. In the process, a tremendous wealth gap has been created, one still expanding at an exponential rate.

History is very clear what happens with dangerous imbalances like this. They correct painfully. Through class warfare. Through currency crises. Through wealth destruction.

Is that really the path we want? Because we’re for sure headed for it.

“Anti-Petrodollar” CEO Of French Energy Giant Total Dies In Freak Plane Crash In Moscow

View image on Twitter
by Tyler Durden

Three months ago, the CEO of Total, Christophe de Margerie, dared utter the phrase heard around the petrodollar world, “There is no reason to pay for oil in dollars,”  as we noted here. Today, RT reports the dreadful news that he was killed in a business jet crash at Vnukovo Airport in Moscow after the aircraft hit a snow-plough on take-off on 10/20/2014

The airport issued a statement confirming “a criminal investigation has been opened into the violation of safety regulations,” adding that along with 3 crew members on the plane, the snowplow driver was also killed.

As reported in Reuters on 7/5/2014:

Christophe de Margerie was responding to questions about calls by French policymakers to find ways at EU level to bolster the use of the euro in international business following a record U.S. fine for BNP.

”Doing without the (U.S.) dollar, that wouldn’t be realistic, but it would be good if the euro was used more,” he told reporters.

“There is no reason to pay for oil in dollars,” he said. He said the fact that oil prices are quoted in dollars per barrel did not mean that payments actually had to be made in that currency.

And of course, it had to happen in Russia!