Federal Reserve

Brazil is defaulting on its debt by printing money.

Just the other day the Fed said 29 of 30 big banks passed stress test, but today it blocked capital plans of five of them because of stress test problems. It's all about the headlines. Citi fails.

"Citigroup, as well as U.S. units of Royal Bank of Scotland Group Plc, HSBC Holdings Plc and Banco Santander SA, failed because of qualitative concerns about their processes, the Fed said today in a statement. Zions Bancorporation was rejected as its capital fell below the minimum required. The central bank approved plans for 25 banks. "

I'm sure there are different aspects of the test, but this is funny. The first headline was the one everybody was supposed to remember.

Food prices are up 19 percent in 2014.