She Blinded Me With Science

What is “the science?” As a physicist, I was taught it’s what the peer-reviewed literature reports – data, validated models, debates, contexts, constraints, maybes. It’s always taken with skepticism knowing someone is likely to come through the door with a better rationale for a difference point of view. “The science” is a never-ending debate. AnContinue reading “She Blinded Me With Science”

SEC Pursues Plan Requiring Chinese Firms to Use Auditors Overseen by U.S.

Our markets, our rules. “WASHINGTON—Chinese companies with shares traded in America would be required to use auditors overseen by U.S. regulators or face being kicked off exchanges under a plan being drafted by regulators, according to people familiar with the matter. “The proposal, which is likely to be issued for public comment in December, wouldContinue reading “SEC Pursues Plan Requiring Chinese Firms to Use Auditors Overseen by U.S.”

Zombie Apocalypse

With interest rates at subatomic levels, “zombie” companies continue to defy the laws of physics. As discussed in ZH below, “it started in December 2017, when the IMF published a blog discussing the “Walking Debt: China’s Zombies” (a topic we first covered in October 2015 in “More Than Half Of China’s Commodity Companies Can’t PayContinue reading “Zombie Apocalypse”

While Household Income Falls, Central Bankers Are Pushing for Higher Prices | Daniel Lacalle

“We have not crashed yet, let’s accelerate.” Central banks continue to be obsessed with inflation even as household income and balance sheets continue to weaken in real terms. Source: While Household Income Falls, Central Bankers Are Pushing for Higher Prices | Daniel Lacalle

Powell’s Case

“We are about to witness the most high stakes court battle in the history of the United States.  Yes, the outcome will determine whether Donald Trump or Joe Biden wins the presidency, but even more importantly the integrity of America’s elections is about to be put on trial.  If fraud can be proven, extremely expensiveContinue reading “Powell’s Case”

Retail Results

October retail is for the sixth month in a row, but just barely. Retail sales up a seasonally adjusted 0.3% MoM v.0.5% expectations, and short the 1.6% gain in September. The losers include grocery-store sales (down 0.4%), bar and restaurant receipts (down 0.1%), and both sporting goods and clothing sales (down 4.2%). MoM winners include non-store retailersContinue reading “Retail Results”

Red Ponzi Defaults

Like Red Ponzi issues? Like cliff diving? Catching falling knives? As WSJ reported in their story, it’s been a lot of “unwelcome surprises” for those who believe Red Ponzi financial statements (too funny – there are such people). Sort of like those who believe there is no voter fraud. Yongcheng Coal & Electricity Holding GroupContinue reading “Red Ponzi Defaults”

“Don’t be evil” (unless you’re Google)

“Apparently, Google does not deem it unethical to fire an employee for expressing the research-based view that differences between the sexes/genders may include occupational proclivities. Google must not consider it unethical to blacklist conservative or otherwise nonleftist news sites, websites, and users. Google must believe that autocompleting searches with patent nonsense represents the highest ethical standards. Google maintains that factual search resultsContinue reading ““Don’t be evil” (unless you’re Google)”