by SP In this video interview, The Pathology of the Rich, and article from 2013, Lets Get This Class War Started, Hedges tell of a kind of psychopathology that emerges in the supper rich. The rich are different. The cocoon of wealth and privilege permits the rich to turn those around them into compliant workers, hangers-on, servants, … Read more
Fasten your seat-belts folks. It is time for an earnings recession! At least that is what the South Korean trade data tells us.. pic.twitter.com/N92qnxlvZL — Andreas Steno Larsen (@AndreasSteno) January 22, 2019 Half of investment grade debt is one downgrade away from junk pic.twitter.com/WJkmKbJXHx — The Long View (@HayekAndKeynes) January 21, 2019 Jefferies: "It should … Read more
by Daniel Carter We’re almost two years away from the next presidential election, but Democrats have already begun to jostle for the position of Trump’s number one adversary. Gabbard, Harris, Gillibrand, Warren and Castro have already announced their candidacy for president. O’Rourke, Biden, Sanders, Booker and others are anticipated to announce their candidacy soon. When … Read more
by Daniel Carter Since October of 2018, the price of oil has been absolutely crushed, down over 22 percent. At one point, the severity of the crash dropped the price of oil by over 45 percent. This steep drop in prices, which largely coincided with a big drop in stock prices, has many people worried … Read more
by Daniel Carter Political tensions are clearly getting out of control in the Western world. Whether it’s the topic of Trump, Brexit, the EU, Kavanaugh, taxes, Russia, Mueller, Syria, the wall, etc., people are becoming quicker to lose their minds. Logic, reason and truth have fallen by the wayside, while irrationality, rage and narrative dominate … Read more
by howmuch Lots of people make New Year’s resolutions to get their personal financial situation in order, and paying off credit card debt is usually a high priority. Credit card debt is at a $1 trillion. The combination of high borrowing limits, steep interest rates and late payment fees make it extremely difficult to get under … Read more
via financialpost: Last time ticket prices fell like this was in 2007, right before the recession almost nobody saw coming It is a fascinating anomaly that as the S&P 500, along with its global counterparts, has been off to the races this year, the one thing that hasn’t changed is the high (and rising) risk of … Read more
via rollingstone: October 4th, 2018, was a busy news day. The fight over Brett Kavanuagh’s Supreme Court nomination dominated the cycle. The Trump White House received a supplemental FBI report it said cleared its would-be nominee of wrongdoing. Retired Justice John Paul Stevens meanwhile said Kavanaugh was compromised enough that he was “unable to sit as a judge.” … Read more
via Zerohedge: The parade of weak bank earnings continued on Tuesday when UBS, one of the first major European banks to report, announced that it had missed analysts’ profit estimates (though it did record a rise in full-year profits) due to outflows from its key global wealth management division. Here’s a summary of its … Read more
via mishtalk: Corporate America is doing far better than most expected under Trump’s tax cuts. But the cuts didn’t pay for themselves. I am a firm believer the ideal corporate tax rate is zero. Yet I was against Trump’s tax cut. Why? I also believe in balanced budgets and I was certain the Tax cut would … Read more
via MarketWatch: When the leader of one of the biggest economies in the world gathers his chiefs for an economic pep talk, the rest of the world best listen up. At the top of the radar for investors returning to the action Tuesday, was a hush-hush meeting between Chinese President Xi Jinping and his Communist Party leaders, … Read more
via Zerohedge: The Pension Benefit Guaranty Corp (PBGC) said in a Friday press release that it believes Sears Holdings Corp’s “continuation of the plans is no longer possible” following the Company’s October bankruptcy, after it was revealed in a Friday filing that Chairman Eddie Lampert’s $5.2 billion rescue package does not include pension plans. PBGC, a government … Read more
via Bloomberg: If you’re looking for one of the worst ideas in contemporary banking, look no further than Germany. The mooted merger between Deutsche Bank AG and Commerzbank AG would make a mockery of any notion that EU governments are serious about ending the “too big to fail” problem. It would also turn back the clock on a … Read more
by QuantalyticsResearch US Stocks Yesterday’s release by China’s National Bureau of Statistics that shows China 4Q GDP slowing to 6.4% in CY2018 vs 6.8% in CY2017 has rekindled worries about a deceleration in global growth US stocks index future are dropping to start the week after yesterday’s MLK holiday with front-month Dow Jones minis –0.56%, … Read more
Korean exports appears to have collapsed in January – bad news for global EPS growth! 🇨🇳🇰🇷🌍 $KRW pic.twitter.com/q4ThQkQp3O — Martin Enlund ⚡️🦆🚁 (@enlundm) January 22, 2019 pic.twitter.com/48ZTamk4Vh — Alastair (@StockBoardAsset) January 22, 2019 hold on to your pants pic.twitter.com/0Id8dIv7L4 — Alastair (@StockBoardAsset) January 20, 2019 probably a chart you should see pic.twitter.com/iHFzDD8uSb — Alastair (@StockBoardAsset) … Read more
With 18.7m followers and a roster of fans that includes the Kardashians and Naomi Campbell, the Instagram page of beauty company Anastasia Beverly Hills offers crafty demonstrations of how to use its products to get the perfect eyebrows and lips. In one image, a model has a tiny heart carved into her manicured eyebrow. The successful social … Read more
by Michael Snyder IMF Managing Director Christine Lagarde made headlines all over the globe this week when she declared that “the risk of a sharper decline in global growth has certainly increased”. As you will see below, signs of economic trouble are popping up all over the planet, and pretty much just about everyone is now … Read more
by Michael Snyder If you add together all of the money owned by the poorest 3.8 billion people living on this planet, it would roughly equal the wealth controlled by the 26 wealthiest men in the world. Oxfam has just issued a brand new report on global inequality, and what they have discovered is making … Read more
by Charles Hugh-Smith The social media/search giants have mastered the dark arts of obfuscating how they’re reaping billions of dollars in profits from monetizing user data, and lobbying technologically naive politicos to leave their vast skimming operations untouched. I’ve been commenting on the cancerous disease that’s taken control of the Internet– what Shoshana Zuboff calls Surveillance … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter But first-time buyers cling to hope. Sales of newly built detached houses in Australia plunged 6.7% in December 2018 from November, to just 4,622 houses, according to the Housing Industry Association (HIA), easily whizzing by the prior record low of 4,769 sales in August (chart via TradingEconomics.com): In the fourth quarter of … Read more