by Tyler Durden Jim Rickards, who recently has gotten massive media exposure on everything from the JPM Silver manipulation scandal, to the Greek default, was back on CNBC earlier with one of the most fascinating insights we have yet heard from anyone, which demonstrates beyond a doubt why any attempt by Europe to print its way out of its current...

Tim Iacono This report in the Arizona Republic is typical of a raft of recent stories about how mortgage distress is working its way up the socioeconomic ladder as a wave of high end distressed property begins to hit the market. While sellers at the housing market’s low end initiated the widespread use of short sales as an alternative to foreclosure,...

Scott Redler of T3Live If you sold the majority of your macro longs when the uptrend broke at 1178-1182 you were not at risk when the market had its “Wild Ride”. If you covered your shorts Friday going into the weekend after a 10% move lower in the Nasdaq and the biggest down week in years you’re not caught short into this huge gap up....

Courtesy of Mish The ECB, IMF, and now the Fed have come out with bazookas blazing in all hands. The amount of ammunition the fools are willing to throw at “Defending the Euro” is now up to $962 billion. Please consider EU Crafts $962 Billion Show of Force to Halt Euro Crisis. European policy makers unveiled an unprecedented loan package...

CalculatedRisk Press Conference has started. Note: 9:03 PM ET: Press conference is over. There will be an archived video soon. Signed Greek deal. Create €60 billion fund based on article 122 (special circumstances). Plus create Special Purpose Vehicle for 3 years (SPV) based on intergovernment agreement. The additional amount is up to €440...

(MarketWatch) — European finance ministers agreed late Sunday on a rescue package worth as much as 500 billion euros ($670 billion) designed to keep the Greek debt crisis from spreading to other vulnerable countries. The deal came after a full day and night of closed-door meetings in Brussels. The finance ministers held...

Courtesy of Mish Please play this must-see video by Alan Grayson explaining in great detail exactly why the Federal Reserve does not want to be audited, and thus why it absolutely needs to be audited. “Let’s find out once and for all who owns the hotels, who owns the houses, and let’s try and put this wild beast that creates money out...

GoldScents History says we should test the lows at some point in the next few weeks. The fact that we ended well off the lows does muddy the picture at bit, as most “crash” days have ended at or close to the lows of the day. So perhaps this time will be different. I’m going to point to an interesting parallel that I’ve been...

MISH While everyone is cheering Friday’s rosy job’s numbers, the market responded with a big fat “so what?” Meanwhile, I have my eyes on a couple of charts that suggest “It Could Be A Long Way Down From Here” $NDXA200R: Nasdaq 100 Percent of Stocks Above 200 Day Moving Average $SPXA200R: S&P 500 Percent of...

by Karl Denninger If you had any doubt about what I have been talking about during this entire ramp job off 666 – that the so-called “bull market” was in fact not much more than a handful of institutions buying shares with free Fed money and passing them between one another hoping to distribute them to you – you should...

Via Joshua Brown

Scott Redler of T3Live Nobody expected the extent of the volatility that we saw yesterday, but you didn’t have to! I received a TON of thank you e-mails for getting most of my community out of stocks when the upper range broke at 1178-1182. Some even sold the strength over 1210 which was the target sell area. If you were skilled enough, you...

WASHINGTON (AP) — More confident employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years. The jobless rate rose to 9.9 percent as people streamed back into the market looking for work. The hiring of 66,000 temporary government workers to conduct the census helped overall payroll growth last month....

Courtesy of Mish Inquiring minds are digging deeper into the mysteries of Thursday’s stock market plunge starting with an intraday chart of the Yen. Japanese Yen vs. US$ click on chart for sharper image The Yen rose 4 cents in an hour vs. the US dollar. Wow. Now let’s invert the chart and overlay a chart of the S&P 500 on top of it. Please...

Zero Hedge What is uglier than a bunch of momentum chasing quants fleeing in “orderly” fashion from a burning theater: a bunch of prop carry traders doing the same, especially once they have been informed the margin calls are coming in. Now that the fate of the eurozone is sealed, save for 6-9 months of political rhetoric as those responsible...