Month: December 2019

Fun fact: Alcee Hastings, Once Impeached for Corruption, Is Now Setting House Guidelines for Impeachment

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by Djpele12 How is he eligible to hold office? Judgment in Cases of Impeachment shall not extend further than to removal from Office, and disqualification to hold and enjoy any Office of honor, Trust or Profit under the United States; but the Party convicted shall nevertheless be liable and subject to Indictment, Trial, Judgment and Punishment, according to Law.

ANALYSIS: One lesson for both the New York Fed and Boris Johnson: you can’t buy trust

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by John Ward Last Thursday night, December 12th – as vote-counting began in the process of giving Prime Minister Boris Johnson an administration in his own right – something infinitely more important took place in the US.  The New York Fed announced  a dramatic increase in the size and scope of its overnight repo operations. Despite the … Read more

HUGE LINES! Illegal Aliens CELEBRATE After INSANE New NYC Law Goes Into Effect That’ll Make You SICK

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https://www.youtube.com/watch?v=nUrceucSxcE The Gateway Pundit reports, a new law in New York called the Green Light Law, which allows illegal immigrants to apply for driver’s licenses went into effect yesterday and illegals lined up to apply throughout the state. Read More/Source/Credit/FairUse: https://www.thegatewaypundit.com/2019…

There’s a simple reason your new smart TV was so affordable: It’s collecting and selling your data, and serving you ads

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If you don’t pay full price for the product, you are the product. That awesome new TV will be sure to make your life better, just don’t talk too loud near it.   The vast majority of televisions available today are “smart” TVs, with internet connections, advertising placement, and streaming services built in. Despite the … Read more

Large U.S. study finds that marijuana laws (both recreational & medical) appear to significantly reduce prescription opioid use.

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Abstract While recent research has shown that cannabis access laws can reduce the use of prescription opioids, the effect of these laws on opioid use is not well understood for all dimensions of use and for the general United States population. Analyzing a dataset of over 1.5 billion individual opioid prescriptions between 2011 and 2018, … Read more

Stocks Start 2020 In Expensive Territory

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by UPFINA 2019 was a costly year for future returns if you believe that when valuations get more expensive, it lowers future returns. That’s because almost all of the gains came from multiple expansion and not from earnings. Earnings barely increased and stocks had an amazing year. According to FactSet, S&P 500 earnings growth was 0.3%. … Read more

No matter how divided Congress pretends to be they always agree to spend more money…

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The House of Representatives on Tuesday passed a $1.4 trillion spending package that includes a provision prohibiting the sale of cigarettes, e-cigarettes, cigars and other tobacco products to people under the age of 21. U.S. lawmakers on Monday negotiated a deal to add the provision, as well as other changes to health-care law, to the spending bill that funds … Read more

Michael Pento: The future guarantees that the junk bond market will someday implode, and probably soon. Repo borrowing costs will soar, the liquidity in the junk bond market will evaporate and equity prices will begin to free-fall.

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via pentoport: The global fixed income market has reached such a manic state that junk bond yields now trade at a much lower rate than where investment-grade debt once stood. Investment-grade corporate debt yields were close to 6% prior to the Great Recession. However, Twitter just issued $700 million of eight-year bonds at a yield of … Read more

Chinese corporate debt is the ‘biggest threat’ to the global economy, says Moody’s chief economist – CNBC

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Chinese corporate debt is the 'biggest threat' to the global economy, says Moody's chief economist – CNBC https://t.co/HhyYQMTIRB — Michael Ron Bowling (@mrbcyber) December 17, 2019 While corporate debt is a “fault line in the financial system and the broader economy,” Moody’s Chief Economist Mark Zandi flagged Chinese indebted companies as the “biggest threat.” A … Read more

Everything is priced in.

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by zsd99 Don’t even ask the question. The answer is yes, it’s priced in. Think Amazon will beat the next earnings? That’s already been priced in. You work at the drive thru for Mickey D’s and found out that the burgers are made of human meat? Priced in. You think insiders don’t already know that? … Read more

Are millennials a lost generation financially?

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Are millennials a lost generation financially? https://t.co/5kOPr06Pz0 pic.twitter.com/UK9JcAji4J — St. Louis Fed (@stlouisfed) December 17, 2019 Great Recession and Younger Families First, the Great Recession was devastating to many families, but younger families were hit harder and lost a larger share of their wealth than older families. To dive deeper, we looked at families grouped … Read more

May I point out that the previous times the Fed was forced to spike repurchase agreements where associated with market excess, crashes & recessions.

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https://twitter.com/NorthmanTrader/status/1206921566140940290 The Fed is printing money like it’s the depth of the GFC! It’s dealing with a repo liquidity crisis like 2008 but mystified as to the cause. The Fed's panic at this point in the economic cycle may hasten the unwinding of the imbalances it is so desperate to maintain. #GotGold? pic.twitter.com/oRQ7UfwwHW — Kevin … Read more

Americans Are Back To Using Their Home Prices As ATMs: Most Cash Pulled Out in 12 Years!

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by Jason Burack of Wall St For Main St Refinance lending has nearly doubled over the past three quarters, according to Black Knight. Cash-out refinances were up 24% since the last quarter of 2018 and made up 52% of all refinances. Homeowners withdrew a collective $36 billion in home equity, the highest amount in nearly 12 years. Commit … Read more