We’re heading into an uncertain, uneasy environment, says Larry Summers
Larry Summers, former treasury secretary and former economic council director, joins CNBC’s “Closing Bell” to talk about his take on the Fed rate hike.
That’s Just …Disgusting
by Chris I know I should not be surprised by this on CNBC, but still, I found its shamelessness staggering… https://www.cnbc.com/2018/12/20/cramer-fed-rate-hikes-widen-wealth-gap-b… From the article: CNBC’s Jim Cramer, a critic for months of the Federal Reserve’s path higher for interest rates, said Thursday that the central bank led by Jerome Powell is taking money out of … Read more
Stock Market Drawdowns – (year-to-date peak to present)
via @Hedgeye: -6% -8% -12% -13% -14% -15% -15% -15% -16% -16% -16% -17% -19% -19% -19% -21% -22% -24% -24% -29% -31% Global equity market capitalization hit new lows today. 1/28/2018: $87 trillion 12/20/2018: $70 trillion In other words, $17 trillion gone from global market cap or down -20%.
Stocks that are Rising/Falling And Why (20 December 2018)
by NaturalHedgehog Each day I go through the top rising and falling stocks today, and look for (a) what the company actually does, and (b) why the stock is moving so much. Hopefully this saves you some digging! Below are my notes from 19 December 2018 as of mid-morning. (This list is limited to … Read more
The ghosts of 2007 are all around us
NEW YORK (Reuters) – There is no more mistletoe hanging above the markets. The romance U.S. fund investors once had with the stock market was put to rest in 2018 when buy the dip turned into sell the rip. For evidence, look no further than exchange-traded funds (ETFs), which hold baskets of stocks across … Read more
Triple-amputee veteran creates GoFundMe fundraiser for border wall
by Dr. Eowyn President Ronald Reagan famously said “Trust, but verify” — a Russian proverb — at the signing of the nuclear disarmament Intermediate-Range Nuclear Forces Treaty with the Soviet Union on December 8, 1987. This post is an effort at “trust, but verify”. Four days ago on December 16, 2018, a triple-amputee Iraq … Read more
“Automatic Pilot”: Mish Shedlock Attempts to Figure Out What the Fed Is Trying to Say
via mishtalk: The market did not seem to like statements Jerome Powel made following the FOMC announcement. Head Scratching There's head scratching over whether today is hawkish or dovish, given SPX is falling. Equities may be trading on Powell's more cautious growth message, so that drop doesn't mean today is hawkish, just that equities don't like … Read more
Fed Rate Hike Will Cost Americans $2.4B in Additional Credit Card Debt Interest
via MarketWatch: If you have credit-card debt, it just got a little more expensive. The Federal Reserve on Wednesday once again raised its benchmark federal funds rate — having already done so earlier this year — as many economists had expected. The Federal Open Market Committee announced that it will raise the rate from 2.25% to 2.50%. … Read more
MSNBC Has a DANGEROUS New Trump Narrative They’re Pushing That Could End America As We Know it
Curtis Houck for NewsBusters reports, On MSNBC’s Hardball with Chris Matthews, two separate MSNBC panelists suggested that not only did then-candidate Donald Trump’s hush money payments to Stormy Daniels and Karen McDougal “[rob] the American people of their right to vote,” but that he was not a “democratically elected” president because of them and possible … Read more
The Single Largest Gold Stockpile in the World Is Underneath New York City
via Yahoo: About 80 feet below Wall Street lies about 6,350 tons of gold, made up of about 508,000 bars, that are collectively worth hundreds of billions of dollars. According to ‘Key to the Gold Vault,’ a Federal Reserve Bank of New York (FRBNY) publication, the gold vault in the New York Fed’s basement “is the world’s largest accumulation … Read more
Swedish Central Bank Surprises With First Rate Hike in 7 Years… to -0.25%
via Bloomberg: For the first time in seven years, the Swedish central bank raised interest rates, surprising many in the market as policy makers chose to focus on low unemployment instead of an uncertain outlook driven by global trade conflicts. The Riksbank, which is based in Stockholm, added a quarter of a percentage point to … Read more
What Investors Get Wrong About the Yield Curve
by Daniel Carter The yield curve is collapsing once again, and that has many investors talking about what it means for the US economy. Overwhelmingly, the sentiment is that a flattening yield curve is bad for the economy, and an inverted yield curve spells imminent danger for the stock market. Is this true? Sort of but, … Read more
Why generation-Y does not believe in Free Speech
The reason why generation Y does not believe in Free Speech https://www.youtube.com/watch?v=8iHmW4eKSHo
Some takeaways from the 5g Round-table in DC
Not matter if we like it or not, 5g is coming – but what could be some of the effects of 5g to those that are exposed to it. Those questions recently came up on a roundabout in Washington DC into 5g. https://www.youtube.com/watch?v=-yCDPXVrOnc
T-Minus 10 and Counting: 10Y/2Y Yield Curve Inversion Less Than 10 Basis Points Away
by confoundedinterest The US Treasury 10Y-2Y slope just breached the 10 basis point barrier. And with that, gold is rising. Yes, we are on the inversion express. With gold as the protection. All aboard! Jerome Powell is engineer.
Why the Left Is More Formidable Than You Think
by Daniel Carter Portrait while in Prussian service, by Karl Wilhelm Wach Hostilities between left and right grow daily in the United States. All it takes is a brief glance at history to see that these hostilities could eventually devolve into civil war. Both sides are beginning to realize this. However, one side seems much more confident … Read more
Will the US Really Withdraw from Syria?
by Daniel Carter In a somewhat stunning turn of events, it was announced yesterday that Trump has ordered a full troop withdraw from Syria. Here is what President Trump had to say on the matter: We have defeated ISIS in Syria, my only reason for being there during the Trump Presidency. — Donald J. Trump (@realDonaldTrump) … Read more
Boom! No Santa Rally For You!
by Chris Well, after some very heroic overnight futures lifting, and then many shuffles across SPX 2500 as “The Dance of the Big, Round Number” dutifully plays out, the US equity markets are once more headed down in earnest. There will be no Santa rally this year. Coal for everyone. Well, except those properly hedged … Read more
Strap in folks. It’s a looong way down from here.
by Adam Taggart In my earlier piece this year A Hard Rain’s a-Gonna Fall, I recounted how David Tepper accurately predicted the massive ramp in asset prices that the Fed (and its brethren central banks) would cause with their QE efforts: As the Federal Reserve kicked off its second round of quantitative easing in the aftermath of … Read more
From the nearby highs, the SPX is -14.7%, Russell 2000 is -22.5%, Oil is -39.1%, Copper is -18.0%.
From the nearby highs, the SPX is -14.7%, Russell 2000 is -22.5%, Oil is -39.1%, Copper is -18.0%. It's not just the stock market. All markets are flashing a yellow flag on the economy. Investors clearly not aligned with the Fed's 2.3% growth forecast. — David Rosenberg (@EconguyRosie) December 20, 2018 https://twitter.com/OccupyWisdom/status/1075804975723356160 Deutsche Bank plunges … Read more