Well, that didn’t take long. And whatever happened to the Eurozone’s new bail-in rule? By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Italy’s government, in its eighth month in power, has already bailed out a bankrupt bank, mid-sized Banca Carige, with public funds. If approved by European Commission and the ECB, it will be … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Normally, this would be ironic: The Fed doesn’t need to borrow; it creates money when it needs some. So it wouldn’t pay interest. But these are not normal times. The Fed reported its preliminary results this morning for the year 2018. The headline is that it sent $65.4 billion of its profits to … Read more
by Dennis Miller When the Fed bailed out the banks at the expense of seniors and savers, interest rates tanked while investors sought out solid dividend-paying stocks. Interest rates are now rising, and the Fed remains hell-bent with continuing their aggressive monetary policies. Many pundits predict the market is due for a major correction. With a … Read more
Just watched an excellent video by Stefan Molyneux titled “The truth about Trump’s Wall Speach” where Stefan gives some hard facts about immigrants and welfare. https://www.youtube.com/watch?v=r1Nmsc7BQAk&feature=youtu.be&app=desktop Welfare use varies among immigrant groups. Households headed by immigrants from Central America and Mexico (73 percent), the Caribbean (51 percent), and Africa (48 percent) have the highest … Read more
via WSJ: No U.S. company rated below investment grade has issued bonds since November—the longest stretch without a high-yield sale in more than two decades—reflecting investors’ concerns about market volatility and the durability of the long-running expansion. December was the first month since 2008 without a junk-bond sale, according to Dealogic. Thursday is on pace … Read more
via Reuters: NEW YORK (Reuters) – HSBC Holdings Plc has agreed to pay $30 million to settle litigation by investors who accused 11 big banks of rigging the roughly $9 trillion government agency bond market from 2009 to 2015. The settlement with the British bank was made public late Wednesday night in the federal court in … Read more
via Bloomberg: hat just happened? I last wrote one of these newsletters on Dec. 20, the day after the last Federal Reserve monetary meeting. (More on my disappearance later in this commentary.) Since that date, stocks have staged a spectacular decline worldwide, accompanied by an equally spectacular rally in government bonds that has pushed yields lower. However, … Read more
Morgan Stanley's quant team calculates that every $20bn decline in the Fed's MBS holdings shaves 0.37% off the S&P 500. pic.twitter.com/SBfKycKeLo — Robin Wigglesworth (@RobinWigg) January 10, 2019 this is probably not good pic.twitter.com/PxYfrnEczx — Alastair (@StockBoardAsset) January 10, 2019 credit leading stocks lower pic.twitter.com/kwKBUygQL4 — Alastair (@StockBoardAsset) January 10, 2019 https://twitter.com/NorthmanTrader/status/1083398539491856386 pic.twitter.com/JlazTYQMnB — M/1_LP … Read more
earnings season is starting:– Apple guidance cut– Macy's guidance cut– Delta guidance cut– Ford firing thousands– Jaguar firing thousands — zerohedge (@zerohedge) January 10, 2019 Apple cut revenue guidance (for the first time in 16 years) Macy’s cut profit guidance, sending its shares plunging the most on record Barnes and Noble cut profit guidance FedEx cut … Read more
by Geoffrey Grider Since the launch of its DNA testing service in 2007, genomics giant 23andMe has convinced more than 5 million people to fill a plastic tube with half a teaspoon of saliva. In case it hasn’t dawned on you yet, you are a commodity just like hand cream, dish soap and laundry detergent. In the 21st century, we are … Read more
PJW you RULE dude! The left despises the working class. h/t Group Captain Lionel Mandrake
by Thinker How can Elizabeth Warren, who just announced to the nation her intent to run for president in 2020, bash one of the top politicians in Washington D.C.? Mrs. Warren had the audacity to call out one of South Carolina’s finest politicians Trey Gowdy on integrity! Well, take the time to research each politicians … Read more
PHILIP KLEIN: Confessions of a Russiagate agnostic. Being agnostic about Russiagate is challenging for a political commentator. Russia has dominated the news for the past two years, and people on each side have passionate and confidently held views. It seems either they’re convinced that Trump colluded and attempted to cover it up, or they’re convinced that … Read more
Josh Sigurdson talks with author and economic analyst John Sneisen, a Norwegian born and raised to talk about the Nordic Model praised throughout the world as well as most notably the country of Sweden as people claim it to be the most prevalent economy in the world. People seem to call Sweden, Norway and Denmark … Read more
C. Douglas Golden for the Conservative Tribune reports, Did you vote for President Donald Trump? Did you know that you’re an unhappy, uneducated alcoholic who’s possibly going to die early from an overdose or liver disease? And that you voted for a Nazi? https://www.youtube.com/watch?v=jSUdse8fKdw Read More/Source/Credit/FairUse: https://www.westernjournal.com/ct/rep…
Kassy Dillon for the Daily Wire reports, Former Republican U.S. Representative Mia Love announced on Monday that she will be joining CNN as a commentator and made her first appearance on “New Day,” in which she criticized the Trump administration’s handling of the shutdown. https://www.youtube.com/watch?v=SsrKgydxDyM Read More/Source/Credit/FairUse: https://www.dailywire.com/news/41894/…
Via Marketwatch Even if the economy is on a roll, many Americans aren’t feeling the benefit. Real wages effectively declined in 2018, according to figures from the PayScale Index, a formula from the Seattle-based salary comparison site. PayScale said the median increases, when adjusted for inflation, were only 1.1% in the last quarter and 1% over … Read more
via Kurt Schlichter Liberals are all about freedom…their freedom to tell us Normal Americanswhat to think, how to feel, and what to do. And the highest form of liberalism is the ban, a bar to an activity, institution, or attitude that they wish to suppress either to enhance their own power or just for the sheer joy of … Read more
by Irina Slav Tesla will stop offering the lowest-priced versions of its Models S and X, chief executive Elon Musk wrote in a tweet. “Starting on Monday, Tesla will no longer be taking orders for the 75 kWh version of the Model S & X,” Musk wrote, adding if anyone wanted to order either of these … Read more
Authored by Sven Henrich via NorthmanTrader.com, Intrigue So we got the Dirty Rally I alluded to before Christmas. The imbalances I highlighted on December 23 called for a reconnect to moving averages off of the 2340 $ES zone and the 2001 analog structure suggested a 10% rally into late January. And a 10%+ rally we got, a rally even … Read more
by Dave Right now, to my mind, there are a lot of upside risks – news events that could cause a large rise in prices. The largest of these is the tariff settlement. I mean, you know we will get a trade settlement, right? Trump has the stage all set for this to happen. He … Read more
Ruth Bader Ginsburg Misses Court Arguments for Second Day, First Time in Her Career. She needs to retire. https://www.youtube.com/watch?v=e8e_gVfby7k
President Trump spoke with reporters on Thursday morning outside the White House before traveling to inspect the US southern border. President Trump slammed the mainstream media for their complete bias against him and the American people. Trump challenged them to go to the border and rent a helicopter. President Trump: Look, look, you can all play … Read more
Hospitals Restrict Visitors to Curb Spread of Flu AS FLU SEASON PICKS UP across the country, hospitals are restricting visitors in an effort to prevent spread of the virus. New York City and 19 states have experienced high levels of flu-like activity so far this season, with 1,562 lab-confirmed, flu-related hospitalizations as of Oct. 1, according to the … Read more
by Dave Kranzler of Investment Research Dynamics The stock market has gone “Roman Candle” since Fed Chairman, Jerome Powell, gave a speech that was interpreted as a precursor to the Fed softening its stance on monetary policy. Not that intermittent quarter-point Fed Funds rate nudges higher or a barely negligible decline in the Fed’s balance sheet should be … Read more