by Charles Hugh-Smith Dow 30,000 is “unsinkable,” just like the Titanic. A recent Barrons cover celebrating the euphoric inevitability of Dow 30,000 captured the mainstream zeitgeist perfectly: Corporate America is firing on all cylinders, the Federal Reserve’s god-like powers will push stocks higher regardless of any other reality, blah blah blah. While the financial media looked elsewhere for … Read more
by Michael Snyder The World Health Organization says that we are facing an “unprecedented outbreak”, and they are basing that assessment on the official numbers that we have been given so far. But what if those numbers are not accurate and this outbreak is actually much, much worse than we have been led to believe? … Read more
What’s Behind the Screwed-Up Student Loan Fiasco? By Wolf Richter. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: Enrollment in higher education in the United States has dropped by 11% from the peak in 2011. That’s a drop of 2.2 million students over the span of eight years, according to data from … Read more
Dream of 3% economic growth remained a dream despite surge in government borrowing and spending. By Wolf Richter for WOLF STREET. The dreams of 3%-plus economic growth in the US remained dreams in 2019, despite tax cuts and ballooning federal government spending, which are a stimulus. But the resulting budget deficit caused the gross national debt to balloon … Read more
Submitted by Tuomas Malinen of GnS Economics Coronavirus and the world economy The outbreak of the coronavirus epidemic in China has shaken the global asset markets—and with good reason. The coronavirus has the potential of being the ‘trigger’ which will push the world into a global depression. Here, we briefly explain why. The outbreak It looks … Read more
All this bubblenomics makes my head hurt. MEXICO CITY—For two years, the legendary late-night snack spot El Moro relied on Uber Eats to deliver its churros and hot cocoa to takeout customers across the capital. Then, in late 2018, it dumped the Uber Technologies Inc. app for an exclusive deal with rival delivery startup … Read more
by Happy_Harry This section of the Premium Tax Credit (1095-A form) section directs you to add the totals of all 1095-A forms together for lines 33A, 33B, and 33C. However, if you read the instructions for Form 8962, it explicitly says you are NOT supposed to add the amounts together for column B. The column B totals should … Read more
15 central banks made net purchases of a tonne or more, highlighting continued breadth of demand Central banks added 650.3t to global official gold reserves in 2019, 1% lower y-o-y 15 central banks made net purchases of a tonne or more, highlighting continued breadth of demand This marks ten consecutive years of net purchases, with … Read more
There is a major disconnect between stock prices and underlying fundamentals. US economy-wide corporate profits have been in a declining growth trend and just turned negative. The same pattern led directly to past bear markets and recessions.https://t.co/pthziakG1d pic.twitter.com/4Hpn64eioF — Kevin C. Smith, CFA (@crescatkevin) January 30, 2020 Dip buyers, consider the following:https://t.co/9GuDlmurU4 Thanks for the … Read more
https://twitter.com/Birdyword/status/1222751730003140608 https://twitter.com/ZhaoyinFeng/status/1222905683957428224 Some people in China are taking no chances when it comes to personal protection against the coronavirus outbreak pic.twitter.com/ugykY9vQzq — South China Morning Post (@SCMPNews) January 30, 2020 Our first estimate of the impact of the #Wuhan #coronavirus on Asia. Watch the travelers. @ANZ_Research https://t.co/wRRlCWTN27 — Richard Yetsenga 叶森 🇦🇺 🇭🇰 🇹🇭 🇳🇱 … Read more