Weekend Reading: Fall Back

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by Lance Roberts Doug Kass made an interesting observation about the market yesterday: “The month of September started with optimism. That optimism has faded in the last two trading days. The most notable winners (year to date), FANG, have been particularly weak as investors begin to understand (thanks to the Congressional testimony and hearings) that … Read more

The Most Important Asset Class In The World

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by David Robertson Here we are, ten years after the bankruptcy of Lehman Brothers, and one would be hard pressed to find evidence of meaningful lessons learned. “As long as the music is playing, you’ve got to get up and dance,” – Chuck Prince, Citigroup Chuck’s utterance now sounds more like a quaint remembrance than … Read more

Stocks Cycle Downward Right On Schedule

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by Dana Lyons September of the 2nd year of the Presidential Cycle is historically the weakest month of the 4-year cycle. Since working off its early year correction, the U.S. stock market has been on one of those inexorable runs that we’ve seen on so many occasions in recent years. Such runs have seen the market … Read more

After Nabbing Billions In Tax Breaks, AT&T’s Promised Job Growth Magically Evaporates

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via techdirt: Telecom monopolies have a pretty good racket going. They’ll consistently demand all manner of tax cuts, subsidies, and other government perks in exchange for broadband networks they only half or partially deploy–or jobs that never materialize. The nation’s telcos in particular have received countless billions in taxpayer subsidies to expand their broadband networks, yet time … Read more

‘Win-win situation’ for gold is forming

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From Kitco: With the U.S. dollar stealing the safe-haven status from gold this summer, a potential “win-win situation” for the precious metal could be just around the corner, according to the ScotiaMocatta bank. “Gold continues not to attract safe-haven interest, even though parts of the global financial system are stressed. International investors see the U.S. as … Read more

DJIA/Gold Ratio

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by Tom McClellan Every chart of price data is a depiction of a ratio.  If you look at a chart of your favorite stock, what you are really looking at is the ratio of the value of your stock to the value of the dollar, since stock prices are quoted in dollars.  AAPL recently was … Read more

Obama trolling Trump on twitter

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  What was Nike thinking? What was Nike thinking? — Donald J. Trump (@realDonaldTrump) September 7, 2018 It was me. That’s what you get for claiming “anonymous sources” disproved my birth certificate. pic.twitter.com/EwcOVQWA3T — Barack Obama ____________________________🇺🇸Fan (@ThePresObama) September 7, 2018 You said it. — Barack Obama ____________________________🇺🇸Fan (@ThePresObama) September 5, 2018 The Worker in … Read more

You Won’t Believe Who’s Running for Governor of Nevada

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by Daniel Carter America’s political sphere is becoming a place where outcomes considered unthinkable in the past are becoming reality. This can almost entirely be attributed to the rise of populism. In recent decades, the ruling-class has presided over a disastrous foreign policy, deep economic recessions and the diminishment of human rights. Now, it appears the … Read more

Dem Senator SILENCED When Condi Rice Testifies At Kavanaugh Hearing – You Can’t Debate That!

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https://www.youtube.com/watch?v=lRYwyVAhsD4 Randy DeSoto for the Western Journal reports, Former Secretary of State Condoleezza Rice rebutted California Democratic Sen. Kamala Harris’ argument that Supreme Court nominee Brett Kavanaugh cannot be trusted to equally apply the law due to his conservative political views. Read More/Source/Credit/FairUse: https://www.westernjournal.com/rice-c…

Confirmation hearing for Supreme Court nominee Judge Brett Kavanaugh, Day 4

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by Ivaginaryfriend A couple different livestreams to choose from: C-Span Fox News Fox 10 Pheonix PBS News Hour In case you missed it: Confirmation hearing Day 1 Confirmation hearing Day 2 Confirmation hearing Day 3 For those asking: Likely committee vote on Kavanaugh: September 20 Likely procedural vote to end debate on Kavanaugh on the … Read more

While You Were Distracted by Kaepernick…

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by Daniel Carter The culture war continues to grind forward, on and on. Every day social media is filled with hysteria because Trump did this or the left did that. This week, there was a ridiculous level of outrage over Nike’s endorsement of Colin Kaepernick, who has become a symbol of leftist ideology. In response, Trump … Read more

HE’S RIGHT: Professor Who Coined Term ‘Net Neutrality’ Thinks It’s Time To Break Up Facebook.

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via slashdot.org: pgmrdlm shares a report from The Verge:Best known for coining the phrase “net neutrality” and his book The Master Switch: The Rise and Fall of Information Empires, Wu has a new book coming out in November called The Curse of Bigness: Antitrust in the New Gilded Age. In it, he argues compellingly for a return to … Read more

In Other News, Water Wet, Fire Hot, Japanese Central Branker Urges More Stimulus

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A Bank of Japan (BOJ) board member criticized the central bank’s decision in July to make its policy framework more sustainable. Goushi Kataoka argued that the BOJ should have instead ramped up stimulus to hasten the achievement of its elusive price target. Kataoka warned that escalating trade frictions could weigh on Japan’s export-reliant economy by … Read more

Wells Fargo: Seriously, Can It Go 5 Minutes Without Committing a Crime?

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via zerohedge: Another day, another scandal involving Warren Buffett’s favorite bank. According to the WSJ, the DOJ is now probing whether employees committed fraud in Wells Fargo’s wholesale banking unit as a after revelations that employees improperly altered customer information. This follows a prior WSJ report that some employees in the unit added information on customer documents, such … Read more

Unless Something That’s Never Happened Since 1871 Happens, Stocks Will Fall 56% or More

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via advisorperspectives: Quick take: At the end of August the inflation-adjusted S&P 500 index price was 121% above its long-term trend, up from 116% the previous month. About the only certainty in the stock market is that, over the long haul, over performance turns into underperformance and vice versa. Is there a pattern to this movement? Let’s … Read more