They’ll spend tens of thousands on a down payment. Go in debt to the order of hundreds of thousands. Or stay in their sinking real estate while shelling out thousands every month that they could be saving. But they’ll never give my question any serious brainpower and at least think through the consequences before committing themselves to eternal debt peonage.
In 1952, after Smokey Bear attracted considerable commercial interest, the Smokey Bear Act, an act of Congress, was passed to remove the character from the public domain and place it under the control of the Secretary of Agriculture. The act provided for the use of Smokey's royalties for continued education on the subject of forest wildfire prevention.
I am sure you remember the lead up to Q1 2016. The US economy and stock market were transitioning from a Goldilocks environment and narrowly avoiding a bear market while the rest of the world was still battling deflation. Precious metals and commodities were in the dumper and try though US and global central banks might, they seemed to fail to woo the inflation genie out of its bottle at every turn.

All international problems are currently suspended, awaiting the results of the US mid-term elections. The partisans of the old international order are gambling on a change of majority in Congress and a rapid destitution of President Trump. If the man in the White House holds fast, the protagonists of the war against Syria will have to admit defeat and move on to other battle fields. On the other hand, if Donald Trump should lose the elections, the war on Syria will immediately be revived by the United Kingdom. Read More
Rate and Review This Podcast on iTuneshttps://www.branddrivendigital.com/how-to-rate-and-review-a-podcast-in-itunes/Futures Rallied after Drop on Apple NewsI want to get to the nonfarm payroll number. This is the big number, and, maybe, because the initial number was good, the market rallied. Although, I think the real reason that the market ra ...…

Sorry this is all over the place, but there are multiple converging streams here. And as DHB constantly reminds us, there is absolutely no reason to believe that in an economy built on gambling, scamming, and computer automated profit skimming, ANYTHING is going to accrue bubble-type benefits to just you and me, anytime soon. Least of all your house.
The pattern of boom and bust has continued in the post- war years. Inevitably the bears have been blamed during every major downturn…Japanese authorities complain[ed] that mysterious foreign interests were responsible for the decline in their stock market, following the great boom of the bubble economy. (In 1998, the Japanese imposed restrictions on short-selling in an attempt to shore up their market).
The United States is effectively bankrupt, but that doesn’t matter to the GOP. Once evangelists of fiscal responsibility and scourges of deficit spending, Republicans today glory in spilling red ink. The national debt is now $20.6 trillion, greater than the annual GDP of about $19.5 trillion. Alas, with Republicans at the helm, deficits are set to continue racing upwards, apparently without end. Read More
I suspect it began with the top in Bitcon and the other 1300-1400 related pseudo currencies back in December. I did an interview in the first week of December where I said Bitcon was in a bubble. I believed it would do the same thing every other bubble in history did. It was going to crash and take all the money of most of the investors. The piece was posted on the 10 th of December. When I did the interview, Bitcon had been going virtually straight up for months and was about $16,858, a new high. Read More
So I have been rolling this whole mess around in my head: Trump wins the RNC nomination. Hillary wins the DNC nomination by cheating over Bernie via the great “Super Delegate Scandal.” DNC comes up with a plan to dig up dirt on Trump via Steele and his Russian contacts. Steele apparently fails to come up with anything substantial or is too incompetent to understand his lies will not hold water when looked at closely and so publishes the phony baloney Russian Dossier. DNC and Clinton via Steele and Fusion GPS worm their way around the FBI and FISA courts and get a FISA warrant on a low-level Trump flunky Carter Page. Page is promptly removed from the Trump campaign. Using the FISA warrant, FBI spies on Trump and apparently finds nothing. Hillary email scandal erupts. Comey states Hillary is guilty as hell but no one will prosecute so no charges are brought up. DNC calls for Comey’s head. Trump wins the election and becomes POTUS. Trump appoints Flynn, then promptly fires him when he finds out he is compromised. Comey is outed as a corrupt idiot and so Trump fires him. DNC cries foul about firing Comey, even though they were literally calling for his head 6 months previous for his coverage of Hillary email scandal. DNC screams for a special council, Sessions recuses himself for no reason (clearly making POTUS Trump angry), and so deputy AG Rosenstein (who signed off on the junk Russian Dossier FISA warrant) assigns his and Comey’s good friend Muller to lead the investigation (clear conflict of interest on multiple fronts). Muller investigates for a year and finds nothing of substance (except completely unrelated crap on Flynn and a few others). Nunes investigates and finds out everything above (it is not even hidden very well). Nunes wants to release the memo. DNC balks badly and ultimately fails. The memo is released.
Good short-term returns, moreover, increase egos, and complacency comes into play. One of the biggest reasons is that the information is all there transparently, so there is no such thing as a free lunch. Remember, all the information about companies is publicly available and there are people whose job it is to look at this information and weight the pros and cons of all that information.

A few weeks ago the DJI became over-bought, but not by as much as we normally expect to see at tops, while at the same time showing very bearish volume and Accumulation Index divergences. Immediately afterwards, we started seeing day-after-day weakness at the close following earlier intra-day strength. This first cluster of technical conditions set up the decline. Now the sell-off has been confirmed by (1) the Hourly OBV Line on the DJI making new lows ahead of the DJI itself , (2) by the increase in down-day volume above the previous day’s volume and (3) the steady 10 day streak of red “candle-sticks” on the daily SPY (SP-500) chart.

That's how bears and bulls first became linked in people's minds. In the 17th century, hunters would sell a bearskin before catching a bear. In the stock market, short sellers did the same thing. They sold shares of stock before they owned them. They bought the shares they day they were to deliver them. If share prices dropped, they would make a profit. They only made money in a bear market.
Written in a straightforward and accessible style, The Little Book of Bull Moves in Bear Markets reveals how you should protect your assets and invest your money when the American economy is experiencing perilous economic downturns and wealth building is happening elsewhere. Filled with insightful commentary, inventive metaphors, and pre-scriptive advice, this book shows you how to make money under adverse market conditions by using a conservative, nontraditional investment strategy.
A bear market rally is a trend that tends to trick investors into thinking the bull market is on the rise again -- but is, in fact, an upward trend where the stock market posts gains for a couple days or weeks but drops again. There may be several bear market rallies within a regular bear market, but an upward trend can't be considered a bull market until market prices rise 20% or more. 
Russiagate originated in a conspiracy between the military/security complex, the Clinton-controlled Democratic National Committee, and the liberal/progressive/left. The goal of the military/security complex is to protect its out-sized budget and power by preventing President Trump from normalizing relations with Russia. Hillary and the DNC want to explain away their election loss by blaming a Trump/Putin conspiracy to steal the election. The liberal/progressive/left want Trump driven from office. 
Identifying and measuring bear markets is both art and science. One common measure says that a bear market exists when at least 80% of all stock prices fall over an extended period. Another measure says that a bear market exists if certain market indexes -- such as the Dow Jones Industrial Average and the S&P 500 -- fall at least -15%. Of course, different market sectors may experience bear markets at different times. The bear market that occurred in the U.S. equity markets from 1929 to 1933 is one of the most famous bear markets in history.
Such behavior is rare, however. To illustrate, consider the several hundred stock market timers monitored by my Hulbert Financial Digest. These are professionals, needless to say, rather than amateurs like the rest of us. It’s their job to identify market tops and bottoms, which is yet another way of saying that they will be more heavily exposed to equities at those bottoms than at tops.
RATE AND REVIEW this podcast on Facebook.https://www.facebook.com/PeterSchiff/reviews/The Catalyst is Rising Interest RatesOctober is just one week old and the carnage on Wall Street has already begun. I wonder if the October complacency is beginning to be shaken with the down move that we see. Now, the Dow Jones is not down very much; in fact, ...…

         I feel that the market is at it’s worst as far as the quailty of available homes at “Fair” prices – we realize that we will lose money, that’s a fact! Also, the sale will unfortunatly bolster the false values of the market. As the Doc’s readers know far too well, the stars have aligned and the wave is comming soon, prices will move further downward to a point of equalibrium with incomes, inventory, supply and demand. It looks like the banks will fight the whole way down delaying a natural correction. Folks have far too much debt into thier properties to make Short sales, preforclosers, forclosures sales work and finding folks who’ve lived many years in the same home with a good amount of equity to negociate with are very rare and thier homes are seldom Gems. 

The market is not fair, but it also does not fail to show us what lies ahead if we look at its internal action very closely. This is because these market internals show us what “Big Money” is doing with their money, not what they are saying. Of course, their spokesmen and “talking heads” will try to soothe investors’ fears now. But we should vow to “follow the money”, I’d suggest. See what the Big Money is doing. We want to “anticipate the anticipations” of others (as Keynes said). But as Keynes also said, the market tends to go to extremes. At times, it is ruled by “animal spirits” rather than rationality. And as he would agree, capitalism by its very nature produces big disparities of wealth and therefore under-consumption and over-production. I would say, we are back in the 1920s again, at least in terms of Trump’s economic policies (de-regulation, tax cuts for the rich and tariffs). These are very similar to Coolidge’s main economic policies. The bull market back then lasted 8 years, August 1921 to August 1929. Our has lasted almost nine years, March 2009 to January 2018. So, a bear market is due….
When the U.S. economy began to move forward once again, municipal debt continued its momentum, which was maintained well into the early part of the twentieth century. The Great Depression of the 1930s halted growth, although defaults were not as severe as in the 1870s.[7] Leading up to World War II, many American resources were devoted to the military, and prewar municipal debt burst into a new period of rapid growth for an ever-increasing variety of uses. Today, in addition to the 50 states and their local governments (including cities, counties, villages and school districts), the District of Columbia and U.S. territories and possessions (American Samoa, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the U.S. virgin Islands) can and do issue municipal bonds. Another important category of municipal bond issuers which includes authorities and special districts has also grown in number and variety in recent years. The two most prominent early authorities were the Port of New York Authority, formed in 1921 and renamed Port Authority of New York and New Jersey in 1972, and the Triborough Bridge Authority (now the Triborough Bridge and Tunnel Authority), formed in 1933. The debt issues of these two authorities are exempt from federal, state and local governments taxes.[8]
While $1 billion may not sound like much when compared with the Peoples’ Bank of China total holdings of US Government debt of more than $1 trillion or to the US Federal debt today of over $20 trillion, it’s significance lies beyond the nominal amount. It’s a test run by both governments of the potential for state financing of infrastructure and other projects independent of dollar risk from such events as US Treasury financial sanctions. Read More
The bear market always proceeds in a manner which discourages investors from selling anywhere near the top.  The biggest losses and the gloomiest media coverage occurs only at the end, encouraging investors to sell in disappointment just before each bear-market bottom.  The biggest monthly outflow in U.S. history occurred in February 2009, just before one of the strongest and longest bull markets in history.
Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world. Follow @DanCaplinger
I’ve been to Japan several times, and I can personally attest to the fact that the people there have been demoralized by the last two decades. The sense of forward movement that was common in Japan two decades ago has been replaced by a sense of lowered expectations and insecurity. In the US, I remember this demoralization in the early 1990’s, with that weak economy and high crime levels. But then the late 1990’s boom time came and all that was forgotten, and even the early 2000’s recession and 9/11 couldn’t shake the optimism. But now, the sense that things are going downhill seems to be back in the US, especially among the middle class (the moneyed class is doing fine).

Inflation is directly responsible for the price increase of everything. That doesn’t mean that all commodities or financial instruments go up in unison, they don’t. But soybeans or silver are not inherently more valuable today than they were a hundred years ago. What has changed is the value of the dollar, not the commodity. Markets search constantly for the correct price. That is why prices go up and prices go down. The market never quite knows what is the right price for anything so it searches until buyers and sellers are satisfied with price and make a transaction. Read More
Market Closed Early for July 4th HolidayThe U.S. stock market closed early today, ahead of tomorrow's Fourth of July holiday when the markets are of course closed and Americans are out celebrating Independence Day, the birth of the nation, July 4, 1776. I love the Fourth of July as a holiday; it is purely American.Framers of the Constitution Ri ...…
My business is to constantly look for new stocks by running stock screens, endlessly reading (blogs, research, magazines, newspapers), looking at the holdings of respected investors, talking to a large network of investment professionals, attending conferences, scouring through ideas published on value investor networks, and finally, scouring a large (and growing) watch list of companies to buy at a significant margin of safety.
The SEC crackdown on ICOs has, apparently, finally extended to one of the industry's most enthusiastic and prolific promoters: former software security pioneer John McAfee, who has earned a reputation for outrageous behavior (including promising in July 2017 to eat his dick on national television if bitcoin doesn't hit $500,000 in three years) in recent years.

It is isn’t egotism and lack of self-motivation that causes us to trade more. Panic and greed also play a part. It is a natural human emotion to want to invest more when markets are going well, or sell when markets are down or at least to stop contributing. Studies that shown that if you tell somebody that they have a 95% chance of making money, they are more likely to invest than if you tell them they have a 5% chance of losing money.
Other than the continual drama surrounding the Trump presidency, things have been quite calm for the past couple of years. We have been enjoying a time of peace, safety and relative economic prosperity that a lot of Americans have begun to take for granted. But great trouble has been brewing under the surface, and many are wondering if we are about to reach a major turning point. Our planet is being shaken physically, emotionally and financially, and it isn’t going to take much to push us over the edge. Read More
Hindsight is the most exact of all sciences. Most people who live their life backwards have a miserable life. Having been around for a while, I tend not to look back, especially not at negative events. Much better to embrace uncertainty since everything going forward from here is uncertain. We can’t do anything about the past but we certainly have more control over our future. And looking at the next few years, it does seem that these are going to be extremely turbulent both economically, socially and politically.
Eleven GOP members of Congress led by Rep. Ron DeSantis (R-FL) have written a letter to Attorney General Jeff Sessions, Attorney John Huber, and FBI Director Christopher Wray - asking them to investigate former FBI Director James Comey, Hillary Clinton and others - including FBI lovebirds Peter Strzok and Lisa Page, for a laundry list of potential crimes surrounding the 2016 U.S. presidential election.
I suspect it began with the top in Bitcon and the other 1300-1400 related pseudo currencies back in December. I did an interview in the first week of December where I said Bitcon was in a bubble. I believed it would do the same thing every other bubble in history did. It was going to crash and take all the money of most of the investors. The piece was posted on the 10 th of December. When I did the interview, Bitcon had been going virtually straight up for months and was about $16,858, a new high. Read More
According to a 2017 study by the Federal Reserve, 44% of Americans wouldn’t be able to cover an unexpected $400 expense without borrowing or selling something. Yes, nearly half the country can’t come up with $400 cash in an emergency. That’s stunning. The slightest mishap—a toothache, a minor car problem—will send them into debt or force them to sell something.
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Like the Doctor, I think home prices are resetting to fundamentals. When you lose your equity suddenly you don’t care if prices fall another 30 to 40 percent. With this growing contingent of negative equity homeslaves approaching critical mass you may see the following solution arise to reset home prices so our economy can regain its stability as people will have more money available for other parts of their budget that is now being confiscated for the Too Big To Fails.
It often happens that gold and silver prices hit low points in June and December, before rallying sharply. The reason is not hard to understand: traders at the bullion banks close their books at the year and half-year ends and are almost certainly instructed by their superiors to reduce their trading positions to as low a level as possible. This is because the banks wish to report balance sheets that reflect low risk exposure for the purpose of making regulatory returns. Read More
Americans are now so polarized that they “no longer share basic sympathies and trust, because they no longer regard each other as worthy of equal consideration.” Codevilla blames the progressives and their attitude of moral superiority, but his explanation is independent of who is to blame. I blame both sides. The Constitution and our civil liberties took a major hit from the “conservative” Republican regime of George W. Bush.  Read More
Microsoft Corporation (MSFT - Free Report)	develops, licenses, and supports software, services, devices, and solutions worldwide. The company has a Zacks Rank #1. In the last 60 days, 15 earnings estimates moved north, while none moved south for the current year. The Zacks Consensus Estimate for earnings increased 7.3% in the same period. The company’s expected earnings growth rate for the current quarter and year is 14.3% and 9.5%, respectively.

5. The millennial generation is getting off to a slow start due to the tremendous burden of $1Trillion+ in student loans. The impact of all this debt is to create an artificial drag on spending for the largest generation in U.S. history right when we need them to pick up the slack from the second largest (and far more wealthy) generation that is retiring in droves.
buying a home under the illusion that home prices always rises was an essential element in the RE easy money game but now that assumption is no longer considered a universal truth as a result the easy money RE game has now developed some serious air pockets in housing prices. Inventory levels,jobs and income levels all play vital parts in creating home prices but at the end of the day if you are not convinced that the home will increase in value (price) over time then the buying decision becomes more complex and everyone impacted by the buying decision generally will not want to lose money! even the wife!!!!!!
“The big lesson of history is that we have run the experiment of hyper-globalization before. In the late 19th century, many of the forces we are seeing [today] were at work: International migration reached levels we have begun to see again, the percentage of the US population that was foreign born reached 14%, and free trade and international capital flows reached new heights. At the time, the 1% were tremendously happy. Unfortunately, they underestimated the backlash that happens when globalization runs too far. The populist backlash [in the late 19th century] was just the beginning of a succession of crises that culminated in 1914 with WWI. War can be global too, and we will know the Liberal International Order has failed when it does what the last one did, and that is to produce a major conflict.”
In 1952, after Smokey Bear attracted considerable commercial interest, the Smokey Bear Act, an act of Congress, was passed to remove the character from the public domain and place it under the control of the Secretary of Agriculture. The act provided for the use of Smokey's royalties for continued education on the subject of forest wildfire prevention.
Why has real estate been such a drag on the overall Japanese economy?  First, Japan’s unemployment rate stabilized after these bubbles burst but it shifted to a large temporary or contract based employment economy.  One third of Japanese workers operate under this new world.  Relatively low security with employers and this has spiraled into lower income and money to finance home purchases.  The fact that the U.S. has such a large number of part-time workers and many of the new jobs being added are coming in lower paying sectors signifies that our economy is not supportive of the reasons that gave us solid home prices for many decades.  I think this is a key point many in the real estate industry fail to emphasize.  How can home prices remain inflated if incomes are moving lower?
syn: bear, stand, endure refer to supporting the burden of something distressing, irksome, or painful. bear is the general word and suggests merely being able to put up with something: She is bearing the disappointment quite well. stand is an informal equivalent, but with an implication of stout spirit: I couldn't stand the pain. endure implies continued resistance and patience over a long period of time: to endure torture.
The Market is a Fractal - the word coined by Benoit Mandelbrot who discoverd the structures in which the whole is echoed in its parts and sub-parts, yet remaining the same no matter how much they are blown up or shrunk down...Fractals used in motion picture animation to created the surface of the moon from a repeating pattern, just as Armies of Thousands can be simulated from a group of 12 men repeated over and over on the battlefield...the lower degree fractals are previews of the whole, they are often echoed inversely as shown above in green...as Mandelbrot stated all charts scale the same, without the legend you dont know if you are looking at a Daily or Monthly chart as above & below
It was a "binary" stock market for 5 years, and as the monster rally went on, it became even more so as more and more equity sub-sectors and asset classes faded away, with "the market" powered by fewer and fewer large-cap growth stocks. Investors either won big investing in large-cap Tech and growth, or you went nowhere with value funds, emerging markets, and small and mid-cap investing styles.
Is the U.S. Government hiding a massive gold deposit in the Chocolate Mountains in California?  Well, according to a few top-notch conspiracy theorists, the U.S. Congress passed the Desert Wilderness Protection Act that has cordoned off this vast gold discovery from the public.  Unfortunately, we may never know if this mammoth gold deposit exists due to the clandestine nature of our government… or will we? Read More
First, momentum stocks are not done getting hit. As psychology turns more bearish, fewer investors are willing to bet that trees will grow to the sky at uber-hot (pun intended) public companies like Tesla Motors and Netflix. Each is down roughly 22 percent from 52-week highs. So, investors trying to make quick money should avoid momentum names. Second, timing the bottom of a correction or bear market is next to impossible. Guessing that $100 is the floor for Netflix, for example, is a dicey business; there really is no way to know what other investors are thinking in real time.
Of course, all of those ships have sailed. We live in a reality where past fiduciary mistakes are “corrected” by amplifying those same mistakes, as if the solution to having our heads buried in the sand is that we just haven’t buried them deeply enough; that maybe the tsunami created by generations of criminal, federal, financial mismanagement and unsustainable promises will disappear if we can just duck around this next corner and close our eyes long enough. Read More
Indeed, in today's fraught environment it can be well and truly said that the chartmonkeys have become deaf, dumb and blind to everything happening on Planet Earth external to the gaming tables where they slosh around in their cups. After all, to use the latest evidence, what could be more indicative of a political system fixing to implode than this weekend's utterly phony and disgustingly undeserved deification of the late Senator John McCain? Read More
It could be the arrival of a “sudden stop”. As I explain in Escape from the Central Bank Trap (BEP, 2017), a sudden stop happens when the extraordinary and excessive flow of cheap US dollars into emerging markets suddenly reverses and funds return to the U.S. looking for safer assets. The central bank “carry trade” of low interest rates and abundant liquidity was used to buy “growth” and “inflation-linked” assets in emerging markets. Read More
Categories: Fictional characters introduced in 1944Public service announcement charactersAmerican mascotsCartoon mascotsFictional bearsFictional gamekeepers and park rangersFictional firefightersFire preventionPublic service announcements of the United StatesUnited States Forest ServiceWildfire ecologyBear mascots1976 animal deathsNational Zoological Park (United States)
It is isn’t egotism and lack of self-motivation that causes us to trade more. Panic and greed also play a part. It is a natural human emotion to want to invest more when markets are going well, or sell when markets are down or at least to stop contributing. Studies that shown that if you tell somebody that they have a 95% chance of making money, they are more likely to invest than if you tell them they have a 5% chance of losing money.
In 1952, after Smokey Bear attracted considerable commercial interest, the Smokey Bear Act, an act of Congress, was passed to remove the character from the public domain and place it under the control of the Secretary of Agriculture. The act provided for the use of Smokey's royalties for continued education on the subject of forest wildfire prevention.
For now the focus is on the US central bank. Investors will be looking for clues from its policy statement on Wednesday on when the balance-sheet run-off will start. After a soft patch in the economy earlier this year, Fed officials have hung on to their forecast for inflation to inch back up to their 2 per cent target, a goal they’ve missed for most of the last five years.
Eventually, probably when a recession comes along and crushes corporate earnings, it will become clear that earnings and the high valuations attached to them are unsustainable. When that happens, the same unsophisticated investors blindly plowing their money into the market will panic and rush to the exits similarly to what happened in 2001 and 2008/2009. Therefore, we can expect a minimum 50% drop in the S&P 500 and long term returns—I’m talking about 20 to 30 years—below 4% per year given that the S&P 500 earnings yield is 3.83%.
Before we dive in, I want to make clear that the goal of this letter is not to say whether liberal internationalism is good or bad, or defend the backlash against it. My objective is to highlight the current state of the order and give insight into Niall’s argument behind why he believes it is over. As investors, it is imperative we understand this trend because it has major implications for financial markets we need to think about. With that being said, let’s dive straight in.
A funny thing happened in the middle of one of Mike Maloney's deep-research sessions recently. As you know, he just released a brand new presentation, but while analyzing the stock market he wasn't satisfied with the way most valuation measures were calculated. With all due respect to Warren Buffet, even his indicator fell short in Mike’s view. It was time for something new, something more insightful, something more accurate.

@PC — I love that people keep putting “my friend” in ironic quotes… 😉 What is more incredible/unbelievable — that someone who has written an investment blog for eight years suddenly buys a short ETF without knowing how it works and then compounds his embarrassment by writing a blog about it and THEN republishes it a few years later to relive his embarrassment, or a person who writes an investment blog for 8 years actually *having* a friend? 🙂
First, market timing is difficult and often unreliable. But the anonymous author behind the brilliant Philosophical Economics blog (his Twitter handle is Jesse Livermore, the name of a legendary investor of the early twentieth century who made and lost millions and committed suicide in 1940) came up with a terrific method. It’s well worth your while reading his post In Search of the Perfect Recession Indicator.
Unfortunately today’s markets have evolved to the point where the latest political decree can significantly impact what happens. And along those lines, there’s been ample speculation that the powers that be may be planning a financial reset. With many feeling that gold and silver will be reset higher, while perhaps much of the global debt is somehow cancelled out (keep in mind U.S. president Donald Trump does have extensive experience with the bankruptcy code). Read More
RATE AND REVIEW this podcast on Facebook.https://www.facebook.com/PeterSchiff/reviews/Dead Cat Bounce Flattens OutThe Dow Jones was down a little over 200 today, closing back below 26,000. NASDAQ composite down 124 - that's a bigger percentage decline, 1.7%, approximately. The Composite is being led lower by the tech stocks, particularly the FA ...…
Two weeks after we reported that GE had found itself locked out of the commercial paper market following downgrades that made it ineligible for most money market investors, the pain has continued, and yesterday General Electric lost just over $5bn in market capitalization. While far less than the $49bn wiped out from AAPL the same day, it was arguably the bigger headline grabber.
He remains confident stocks will see a fresh string of new highs in the final months of the year. Referring to history as a guide, Stovall noted that the fourth quarter is pretty strong during midterm election years, and seasonality points to more gains. He believes it will be easy for the S&P to grab another 80 points and break above 3,000 by year-end.
There is perhaps no better illustration of the deep decay of the American political system than the Senate race in New Jersey. Sen. Bob Menendez, running for re-election, was censured by the Senate Ethics Committee for accepting bribes from the Florida businessman Salomon Melgen, who was convicted in 2017 of defrauding Medicare of $73 million. The senator had flown to the Dominican Republic with Melgen on the physician’s private jet and stayed in his private villa, where the men cavorted with young Dominican women who allegedly were prostitutes. Menendez performed numerous political favors for Melgen, including helping some of the Dominican women acquire visas to the United States. Menendez was indicted in a federal corruption trial but escaped sentencing because of a hung jury. Read More
Very few Americans have any significant savings today. Most live on credit and those with savings have it stored in financial instruments that will be wiped out as the bankers collapse the system to hide the theft they have been involved in for decades. Those who think they will retire with their IRA, pensions or social security will find them all gone never to return leaving them with no means to care for themselves. Read More
Over the last decade many traditional and new market participants have begun to apply current technology solutions to the municipal market remedying many of the latent problems associated with many aspects of the municipal bond market. The emergence of products like small denomination municipal bonds, for example, is a result of new bond financing platforms. Such products also open up the muni market to middle-income buyers who otherwise couldn't afford the large, $5,000 minimum price in which bonds are typically bundled. The general idea with modern platforms is to leverage technology to make the market more responsive to investors, more financially transparent and ultimately easier for issuers and buyers. Many believe that, in doing so, more people will compete to buy muni bonds and thus the cost of issuing debt will be lower for issuers.[15]

In the days ahead, markets are awaiting potential announcements on the Trump administration's plan to curb Chinese investments in U.S. technology, although messaging on those measures from the White House has proven conflicting. The U.S. is also set to impose an additional 25 percent tariff on $34 billion in Chinese imports on July 6, with duties on a further $16 billion in Chinese goods in the works.
As longtime readers know, my work aims to 1) explain why the status quo -- the socio-economic-political system we inhabit -- is unsustainable, divisive, and doomed to collapse under its own weight and 2) sketch out an alternative Mode of Production/way of living that is sustainable, consumes far less resources while providing for the needs of the human populace -- not just for our material daily bread but for positive social roles, purpose, hope, meaning and opportunity, needs that are by and large ignored or marginalized in the current system. Read More
A stone slab bearing 3,000-year-old writing previously unknown to scholars has been found in the Mexican state of Veracruz, and archaeologists say it is an example of the oldest script ever discovered in the Western Hemisphere. — John Noble Wilford, New York Times, 15 Sept. 2006 Large public buildings often bear only a loose resemblance to what was originally in the minds of the architects who designed them. Things get cut back to save money; somebody has second thoughts about the way part of the building will function; it takes so long to get public approval that the original idea starts to seem dated … — Paul Goldberger, New Yorker, 17 Jan. 2002 The most famous work of Louis Pasteur (1822-1895), of course, was purifying milk with the process that now bears his name. — Brendan Miniter, American Enterprise, September/October 1998 In so-called parking schemes, securities aren't carried on the books of the true owner but are temporarily sold to someone else with the understanding that the seller will continue to bear any risk of loss and reap any profits. — James B. Stewart, New Yorker, 8 Mar. 1993 As a science fiction buff, many years ago, I remember being particularly fascinated by tales of genetic surgery. Imagine the surgeon … peering through the electron microscope, repairing the sickle-cell gene and returning the ovum to its mother, who would then bear a normal child. — Richard Novick, New York Times Book Review, 15 Feb. 1987 The sight of Niña already there, snugged down as if she had been at home a month, finished Martín Alonso Pinzón. Older than Columbus, ill from the hardships of the voyage, mortified by his snub from the Sovereigns, he could bear no more. — Samuel Eliot Morison, The European Discovery of America, 1974 a symphony that can bear comparison with Beethoven's best The company agreed to bear the costs. The criminals must bear full responsibility for the deaths of these innocent people. Who will bear the blame for this tragedy?
Erik:     I want to come back to something you said earlier where you described if Treasury yields were to double that would obviously double the government’s cost of debt service. And the cost of debt service was about the same as it is now, ten years ago. But it was half as much debt. So with twice as much debt, if we go back to ten-years-ago Treasury yields, we would double the cost.
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