Einhorn on Tesla: ‘Like Lehman, we think the deception is about to catch up’

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  Greenlight Capital’s David Einhorn predicts Tesla will report a “large revenue and earnings disappointment” in its fourth quarter. “Like Lehman, we think the deception is about to catch up to TSLA,” Einhorn said in an investor letter Friday. Hedge fund manager David Einhorn is blasting Tesla again. The investor compared Tesla to his most famous and … Read more

It’s Begun – BOND SELL OFF > 10 YEAR TREASURY YIELD > MORTGAGE RATES > STOCKMARKET > HOUSING MARKET > CREDIT/LIQUIDITY > RECESSION

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https://twitter.com/OccupyWisdom/status/1048030740586405889 Debt market > stock market With 3 months to go, US Bonds (Barclays Agg) are on pace for their worst year in history… pic.twitter.com/3wKVT591ux — Charlie Bilello (@charliebilello) October 5, 2018 From the market bottom in 2009 to now, the capitalization of companies listed in the S&P 500 index grew by more than $18 … Read more

Since 1965, the Stock Market Has Done This on Exactly Two Days, Including October 3, 2018

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by Alexander Trigaux, Editor, GoldSilver We casually refer to “the stock market” all the time. And whatever the Dow Jones, the S&P 500, and the Nasdaq are doing is generally accepted as how “the market” is doing. But there are about 3,600 publicly traded stocks between then NYSE and the Nasdaq. Drilling deeper into market internals … Read more

Keep your eyes on Venezuela Things are ramping up quickly

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Welcome to the Jungle. COLD WAR II: Pence intensifies warnings about China. Venezuela is Exhibit A. In a speech Thursday to the Hudson Institute, Pence charged Beijing with wanting a new American president and actively interfering in the domestic and foreign affairs of the United States. “Beijing also aims to extend its reach across the wider … Read more

Stagnant Wages, Yet Increasing Household Income…What Gives?

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Every month for the last year, the Bureau of Labor Statistics’ wage data releases have continued to demonstrate that workers simply aren’t getting ahead. Despite some nominal growth, real wage growth has been consistently hovering around zero (rising at just a 0.2 percent annual rate from 2016-2017). At the same time, this year’s annual data release from the Census Bureau showed us that the median household income has risen to $61,370 in 2017, a 1.8 percent increase even after … Read more

Mattress Firm files for bankruptcy, will close up to 700 stores

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Mattress Firm, which has been grappling with declining sales following an overexpansion and a scandal at its parent company, filed for Chapter 11 bankruptcy protection Friday. The nation’s largest mattress retailer has been ailing amid a surge of bed-in-a-box online retailers, too many physical stores and an accounting mess at its parent company, Steinhoff International. Houston-based Mattress … Read more

The Last Time Interest Rates Spike Like This Was February, and Stocks Fell 12%

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Last time rates soared like this, the stock market dropped double-digits from CNBC. via CNBC: Interest rates are surging in the U.S. and around the world, sending shock waves through equity markets. The last time this kind of breakout in bond yields struck, U.S. stocks tumbled more than 10 percent. When the 10-year Treasury note yield broke … Read more

Elon Musk Mocks SEC, Calls for Short-Selling to Be Made Illegal

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“At the very the least, they can read the riot act to Musk’s lawyer,” said Stephen Crimmins, a former SEC enforcement lawyer who’s now a partner at Murphy & McGovern. “Beyond that, if they feel he hasn’t lived up to his deal, they can theoretically seek to pull the settlement.” https://www.bloomberg.com/news/articles/2018-10-04/unrepentant-musk-calls-sec-shortseller-enrichment-commission?srnd=premium