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The king has died. Long live the dyed king. So no sooner had one 90-year old monarch discovered what comes next, than one of his innumerable 79-year old sickly half-brothers came next; sporting a midnight black goatee. You see, while elderly despots happily rob their young subjects of opportunity, prosperity and dignity, they’ve not yet figured out how to steal youth. So surrounded by sycophants, they pretend and ext

“These days everything’s padded and comes with warning labels,” said Jorgensen, triumphant, tiny, towering above Yosemite. He’d just free climbed El Capitan; once considered impossible. But there is no impossible, there’s only not yet possible. “This just lights a fire under me, and that’s a really exciting way to live,” continued the young alpinist, fingers raw, embracing uncertainty, pursuing extraordinary. You see

“The odds of success are 50/50,” said the baby-faced billionaire, smiling. “But I pretty much made that up,” admitted Elon Musk, “I have no idea.” And how could he? After all, he was attempting to gently land his rocket, upright on a barge, floating in the Atlantic, at night, in the fog. Which quite frankly isn’t all that hard. It just takes imagination, an entrepreneur, capital, and technology; America’s abundant re

Week-in-Review: Mon: China loosens LDR, Japan approves $29bln economic stimulus spending, Greece fails to elect president (Jan 25th elections), Weidmann reiterates opposition to sovereign QE, Brazil budget deficit 11yr high of +5.8% (gross debt 63%), Dallas Fed -6.4 to 4.1%, S&P +0.1%; Tue: Abe proposing 3.3% corporate tax cut, Putin critic Navalny convicted of fraud (sentence commuted), US consumer confidence +1

Week-in-Review: Mon: China investigates former president Hu Jintao senior aide (new escalation of anti-corruption drive), Saudi oil minister “not in OPEC’s interest to cut production no matter how low price goes; may never see $100 oil again,” Tunisia votes for secular govt, US Nov existing home sales -6.1% (median price +5% yoy), S&P +0.4%; Tue: China investigates stock price manipulation, Qatar susp

“We’ll respond proportionately in a space, time and manner that we choose,” warned Obama, racing through his armory, searching for a weapon capable of kidnapping North Korea’s chubby kid and placing him in Angelina Jolie’s foster care. But of course, Obama’s cache is running low. Everyone’s is. Putin’s reserves continued their inexorable decline, oil extended its slide, the Ruble plunged. So Vladimir pulled out the w

“Even in the worst of times, we’re always Americans,” said John McCain, rubbing his war wounds. “We’re different, stronger, and better than those who would destroy us,” continued the Senator, rising above pathetic partisan politics, reliving his torturous pain. And he’s both right and wrong. Because we’re no different, no stronger, no better. We’re human; all the same. With one exception. You see, our painfully coura

“I’m half-way to achieving our goals,” announced Abe. As Moody’s cut Japan’s credit rating to A1. Citing the difficulty in simultaneously reducing fiscal deficits while fueling growth. Which is the global economy’s first circular reference. Because you can have one or the other, but not both. Unless you devalue your currency and monetize your debt. The Yen fell another 2.4%. 10yr JGB yields fell 1bp to 0.41%. The Nik

Week-in-Review: Mon: China’s Friday surprise rate cut lifts Asian equities, German Nov IFO +1.5 to 104.7, Weidmann sees high legal hurdle for sovereign bond-buying, Coeure “ECB unanimous on doing more if extra stimulus needed,” Dallas Fed index unch, US defense secretary Hagel to step down, Grand Jury declines to indict Ferguson cop, S&P +0.3%; Tue: Chinese stocks 3yr highs, Kuroda “imperative to restore confiden

Kuroda dropped his kimono. And stepped into the steaming shower. To wash away the anger, the humiliation, and the last remaining trace of economic orthodoxy. He’d cut a secret deal with Abe, sealed it with a Samurai swear. Kuroda held up his end, expanding QE to infinity. But Abe betrayed Bushido; dissolving parliament, delaying the consumption tax hike. April’s 3% increase sparked a 7.3% collapse in Q2 GDP. And desp