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Cash is outperforming emerging market stocks over the last 11 years. Total Returns… Nasdaq 100: +322%S&P 500: +154%Cash: +4%EM: +2%$QQQ $SPY $BIL $VWO pic.twitter.com/oApeD8f1DR — Charlie Bilello (@charliebilello) May 8, 2019
via MarketWatch Debt collectors could soon be making a comeback. Delinquent consumers could get phone calls up to seven times a week, and an unlimited number of texts and emails from debt collectors under the rule proposed by the Consumer Financial Protection Bureau released this week, making it the first major update in more than … Read more
Neoglory has the inglorious title of biggest 2019 defaulter A state-linked issuer is among the five biggest in year so far This year is shaping up to be the biggest by far for defaults in China’s $13 trillion bond market, highlighting the widening fallout from the government’s campaign to rein in leverage. Companies defaulted on 39.2 … Read more
via Zerohedge: As each of the seven largest credit-card issuers in the US reported a troubling jump in default rates to levels not seen in the better part of a decade, we noted last week that relaxed lending standards combined with ‘Non-GAAP’ FICO scores suggest that the American consumer is in far worse shape than many had … Read more
via jugglingdynamite” In the first two credit-tightening cycles of the last 27 years, the US central bank hiked its base interest rate 108% from August 1992 to May 2000 (3 to 6.5), and 425% from June 2003 to June 2006 (1 to 5.25). While household savings were higher coming into those cycles and total debt levels much … Read more
via CNBC: Sam Zell agrees with President Donald Trump that cutting interest rates by 1 percentage point would be great for the economy, but only at first. Doing so, he said, would threaten the dollar’s status as the world’s reserve currency. Investor Sam Zell agrees with President Donald Trump that slashing interest rates would make … Read more
In his opening statement before the House Judiciary Committee’s contempt vote against Attorney General Bill Barr, ranking member Rep. Doug Collins questions why lawmakers are moving 10-times faster than they did with Attorney General Eric Holder. #FoxNews Jim Jordan: House Democrats are trying to destroy Barr The push to hold William Barr in … Read more
by howmuch There are an estimated three quarters of a million franchises in the U.S. alone. While most people think of franchising in terms of fast-food restaurants, the U.S. Census Bureaunotes that a number of other industries including fitness, beauty, and automobiles also rely on a franchise model to generate business. Our latest visualization illustrates how much it … Read more
This has to end badly because the distortions have to be reconciled. It was once okay to have recessions and corrections in the stock market when the stock market was not the economy, but asset prices have become the economy.
So sorry guys. via bloomberg: One of China’s largest listed drugmakers said it overstated cash holdings by $4.4 billion, sending its shares and bonds tumbling and heightening concerns about the quality of accounting in a country that has become a fast-growing part of global investment portfolios. Kangmei Pharmaceutical Co., a producer of traditional Chinese medicines, said … Read more
by visualcapitalist Just as household wealth varies greatly across the population, the composition of that wealth changes as well. Simply put, the person next to you at the grocery store will likely have a much different asset mix than, say, Warren Buffett. Today’s chart breaks down the differences in the composition of wealth between middle income, upper … Read more
via Richard Quinn From the lofty perch of old age, and after a lifetime of thrift, I declare that I am qualified to comment on how not to waste money. We’ve all heard the reports: Most Americans live paycheck to paycheck, a large number can’t come up with $400 for an emergency, and there’s no money to … Read more
Hackers from a 2017 cyber-attack used tools allegedly lifted from the NSA by Chinese intelligence agents, says a new report. Investigative journalist Ben Swann discusses the findings with RT America’s Manila Chan https://youtu.be/90g99wTKg9Q h/t failed_evolution
by bch2478595 Ultimately what started out as open platforms for ideas, collaboration, and dissent have devolved into curated echo chambers where independent thought is wholly unimportant. The only true purpose of these platforms now are for some entities to push narratives, and other entities to induce consumption through clandestine means, meanwhile, users stay happily entwined as imaginary points … Read more
Trying to pick in advance which funds will be among the few that beat the market has proven just as difficult. Morningstar’s famed star ratings have a poor track record of picking winning funds. Brokerage accounts advised by financial advisers achieve lower net returns and inferior risk-return tradeoffs than self-directed accounts.2 Even the expensive investment … Read more
by jessefelder “This is the only time in my 88 years when I saw technology stocks go to 100 times earnings; or, when there were no earnings, 20 times sales. It was insane, and I took advantage of the temporary insanity.” – John Templeton, May 28, 2001 Sadly, he passed away back in 2008 so I … Read more
By Harry Dent U.S. markets have had a bad week. After reaching all-time highs recently – the Dow at 26,656.39 on April 23 (not quite new high), the S&P 500 at 2,945.83 on April 30, and the Nasdaq at 8,164 on May 3 – they’ve spent the last three days in the red. Monday, the Dow shed as much as 1.8% before … Read more
AI Deepfake technology has already been around for nearly 5 years. With every day that goes by the technology improves, and I’d be more shocked if this tech wasn’t already years ahead of what we’re allowed to see. h/t TheTruthIsOutThere
by Jim Quinn The left wing MSM is breathlessly reporting Trump’s massive losses from 1985 through 1994. They seem to have no concept of how the US tax code works. Trump is a real estate mogul. When you own real estate, you are entitled to huge depreciation write-offs on your tax returns. Big tax losses … Read more
by Jesse Colombo Last week, venture capitalist Chamath Palihapitiya said that central banks have virtually eliminated recessionsthrough their aggressive monetary stimulus programs such as quantitative easing (QE) and record low interest rates – “I don’t see a world in which we have any form of meaningful contraction nor any form of meaningful expansion. We have completely … Read more