Month: July 2018

Fed Speaks = Another Top?

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by SpontaneousDisorder Just thought I’d put this here as an update to a previous post I did. Jerome Powell has testified to congress and the market got excited again. The previous post I made was when the Fed had a meeting and that timed a short term top. The Nasdaq and S&P are bit higher, the … Read more

#JOURNALISM: WRONG: Reporter Deletes Tweet Claiming Russian Spy Was in Oval Office with Trump.

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#JOURNALISM: WRONG: Reporter Deletes Tweet Claiming Russian Spy Was in Oval Office with Trump. Talk about getting it wrong. There are mistakes, and then there are mistakes, and this is the latter. On Monday, a woman, Maria Butina, was arrested and charged, federal agents saying she worked as a “foreign agent” who conspired to set up private communications … Read more

Senators: Your Smart TV Might Be Spying On You

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by stockboardasset It has been almost 70 years since George Orwell’s dystopian novel Nineteen Eighty-Four was published, but now, some of his forward-looking warnings are starting to be realized in 2018. Take this stunning letter from Senators Edward Markey, D-Mass., and Richard Blumenthal, D-Conn., who told the Federal Trade Commission (FTC) Chairman Joseph Simmons last Thursday that internet-connected … Read more

The United States has spent at least $2.8 trillion on counterterrorism since 9/11 – The task still consumes a sixth of America’s annual discretionary spending

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The United States has spent a lot of money on counterterrorism since the 9/11 attacks. But nobody has been keeping good track of just how much, until now. A bipartisan group of national security and budget experts convened by the Stimson Center estimated in a new report on May 16 that the cumulative tally is … Read more

Omnicom’s organic growth misses estimates as U.S. clients curb spending

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by dying_to_be_vain As the Reuters’ headline says, Omnicom’s organic growth misses estimates as U.S. clients curb spending. Omnicom reported a 2 percent rise in organic revenue – a closely watched measure that excludes foreign exchange rate changes and mergers. Analysts, on average, had expected a 2.3 percent rise, according to research firm FactSet. New York-based Omnicom has … Read more

“Conditional Non-Objection”: Even Banks That Fail Their Stress Test, Pass Their Stress Test

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via americanbanker: hen Federal Reserve Chairman Jerome Powell faces lawmakers this week, one big question will almost certainly be: Is the central bank playing favorites among the big banks? Sens. Elizabeth Warren, D-Mass., and Sherrod Brown, D-Ohio, ranking member on the Banking Committee, criticized the agency for its latest round of stress test results earlier this … Read more

Consumer Spending Growth Falls to 4.5-Year Low, but Personal Income Still Lags

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via businesscycle: Stealth Slowdown Unfolding Wall Street is too optimistic on the economy, veteran forecaster warns from CNBC.   As the chart shows, real personal income and consumer spending growth are both in cyclical downturns. Contrary to the notion of a “strengthening” economy, consumer spending growth has fallen to a 4 ¼-year low, as personal income growth continues to undershoot … Read more

IMF Issues Dire Warning For Eurozone And Warns Trade Wars Set To Escalate

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The International Monetary Fund (IMF) has warned Eurozone growth could be derailed by escalating trade wars and the threat of more tariffs on goods from the US. via PAUL WITHERS The fund said it had cut its 2018 growth forecasts for Eurozone countries, including Britain, because of softer-than-expected first quarter performance coupled with tighter financial conditions due to … Read more

Billionaire Ray Dalio: AI is widening the wealth gap, ‘national emergency should be declared’

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From CNBC: Billionaire hedge-fund founder Ray Dalio says artificial intelligence and automation are improving productivity but also causing such a dramatic wealth gap that “a national emergency should be declared.” The co-chief investment officer and co-chairman of Bridgewater Associates shared his thoughts in a Facebookpost on Thursday. Dalio says he was responding to a question about whether machine intelligence … Read more

Scientists find quadrillion tons of diamonds in ground

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via metro.co.uk: Don’t tell the Hatton Garden gang: scientists just unearthed an eye-watering hoard of diamonds, so valuable it would completely destroy the world’s economy. The scientists reckon there’s a quadrillion tonnes of diamond buried in the ‘cratonic roots’ in continents. There’s just one, tiny, catch: the treasure trove is buried 100 miles down, deeper than … Read more

Breaking: Rosenstein Summoned to White House— Buckle Up. UPDATE: Trump to Address Public on Russia Visit at 2pm

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Deputy Attorney General Rod Rosenstein was summoned to the @WhiteHouse this morning, reports @NBCNews. Deputy Attorney General Rod Rosenstein was summoned to the @WhiteHouse this morning, reports @NBCNews. — Steve Herman (@W7VOA) July 17, 2018 UPDATE— #BREAKING @PressSec says President #Trump will speak to reporters at 2:00 about his meeting with Re: Breaking—Rosenstein Summoned to … Read more

I just lost $20,000. A cautionary tale…

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by stock_throwaway_123 Throwaway account since I’m giving actual dollar values here. I do data-driven short-term trading via a homegrown system, and I got burned by brokerage behavior I hadn’t known was possible. So, last month my system told me to short INNT from to June 18th to July 16th. I opened a short position on … Read more