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via Callum Thomas Starting the week off with a long term look at the small end of the market, this chart shows the PE10 Valuation metric (price vs trailing 10 year average earnings) for the S&P600 (small cap stocks) vs the S&P100 (large cap stocks). The chart comes from the latest weekly report where we … Read more
Lie, cheat, and steal is all they know Oklahoma Democrat caught removing congressional opponent’s campaign signs ahead of primary An Oklahoma congressional candidate has apologized after he was caught taking his opponent’s campaign signs from a street corner — just before the state’s primary election. Tom Guild, who bills himself as a progressive Democrat vying … Read more
by stockboardasset Air Force Global Strike Command (AFGSC) authorized Ellsworth Air Force Base (AFB), a United States Air Force base located about 10 miles northeast of Rapid City, South Dakota, to test the AGM-158C Long Range Anti-Ship Missile (LRASM), according to an AFGSC memo released June 12. A Long Range Anti-Ship Missile (LRASM) launches from an Air Force … Read more
by Thinker It would seem that the Attorney General’s office has had quite a history of not wanting to hand over documents to congress or committees when asked. Like Obama had said, “The only people who don’t want to tell the truth, are people with something to hide” To many things in documents that tell … Read more
Why is China reducing their reserve ratios and making it easier for people to get loans? The financial system is not strong. Don’t believe the mainstream media. It has been supported by trillions and trillions of dollars printed and barely having any effect. Without this crutch to the markets, they would fall very rapidly. Over … Read more
via @GinaVSanchez Financial stocks have been a bit of a puzzle. Investors may think that with a central bank on a firm tightening path, industry deregulation efforts in play and high expectations for banks’ growth heading into this year, financial firms would be thriving. But they’re badly lagging the market, and fund flows paint an ugly … Read more
From the New York Post: Get this: The American Library Association, which claims to champion intellectual freedom, is now downgrading a key author of a major piece of Americana and stripping Laura Ingalls Wilder’s name from a children’s literature award named for her. The group decided it will no longer judge her series, “Little House on the … Read more
via ace.mu.nu: One point she alludes to, which she made before: She thinks that Star Wars never appealed to Kathleen Kennedy. Kathleen Kennedy didn’t like the franchise, because it was, indeed, a boys’ adventure franchise. Instead of making a boys’ adventure franchise she didn’t get and didn’t like, she made it into something she couldlike: a girls’ … Read more
The ruling concerned the third version of President Trump’s travel restriction, which was challenged on the grounds that it amounted to a “Muslim ban.” In the 5-4 opinion written by Chief Justice John Roberts, the court finds that Trump’s travel restriction fell “squarely” within the president’s authority. “The [order] is expressly premised on legitimate purposes: … Read more
via Zerohedge: We’ve written quite a bit over the past couple of months about the pending financial crisis in Illinois which will inevitability result in the state’s debt being downgraded to “junk” at some point in the near future (here is our latest from just this morning: “From Horrific To Catastrophic”: Court Ruling Sends Illinois Into … Read more
by Keith Weiner of Monetary Metals Last week, we discussed Social Security, a Ponzi scheme that is inevitably approaching its default. That leads us to another point in our broader discussion of capital destruction. Let’s illustrate with an example. The Fraudulent Promise Suppose Eric works for wages. He is 50 years old. His house is paid off, he … Read more
DO THE DEMOCRATS REALLY WANT A CIVIL WAR? BECAUSE THAT’S HOW THEY GET A CIVIL WAR: Democrats are just nuts trying to keep Trump off the 2020 ballot, but Trump could have fun with this. Democrats from 23 states are trying to keep Trump off the ballot unless he makes his tax return public. Here is the headline: “25 … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter They Come Under “Intense Scrutiny” by the Pension Funds that Feed Them. But this too shall pass. For the past three mornings, Toys ‘R’ Us has tweeted the countdown of its demise: On Saturday: “Only 6 Days Left! #toysrusclosingsale” On Sunday: “Hurry! Only 5 Days Left! #toysrusclosingsale #toysrus #babiesrus #alwaysatrukid” And on Monday: “Hurry! … Read more
SACRAMENTO (CBS13) – California is considering creating a “fake news” advisory group in order to monitor information posted and spread on social media. Senate Bill 1424 would require the California Attorney General to create the advisory committee by April 1, 2019. It would need to consist of at least one person from the Department of … Read more
by Martin Armstrong The Mueller investigation is all about removing Trump from office, which has been cheered by CNN, New York Times, and The Washington Post among many others. They are intent on overturning the results of a Democratic election to ensure this is no longer a government of the people for the people. They … Read more
by Martin Armstrong QUESTION: It certainly seems that the cryptocurrency world has its flaws and may even be worse than traditional bank accounts and credit cards. They keep getting hacked. So they are trying to defeat central banks but may be running into the arms of scammers and thieves. I read one guy even claimed Bitcoin … Read more
via BI Warnings across Wall Street that global markets have entered the final stage of their cycle have been gathering steam in recent weeks. The chief investment strategist at Bank of America Merrill Lynch is the latest to weigh in, sharing five reasons he’s now bearish on risk assets. All good things must come to … Read more
Via Global Macro Monitor, You would never know it listening to the market cheerleaders but asset prices, both real and financial, are, once again, at extreme valuation levels relative to the trend economy. The valuation reality coupled with the prevailing, but false, “don’t worry” market narrative sets us up for another major financial crisis. A … Read more
via GPC Thus far in his tenure as Fed Chair, Jerome Powell has emphasized that he is more concerned with the real economy than the financial markets. Put another way, the Powell Fed, unlike the Bernanke or Yellen Feds before it, is willing to sacrifice stocks in the name of normalizing monetary policy provided the … Read more
The Supreme Court totally rejected everything the US was built upon, no taxation without representation. New Homes surge in only one area the South, the rest of the country new homes plunged. Europe warns of an upcoming trade collapse. The Fed just let the world know what is about to do but no one clued … Read more