College is usually a good investment, but that is not the case for every single school in America. As the following infographic shows, you may want to rethink your decision before handing over that big tution check.
From the lows in March 2009, the S&P 500's 4.3 year rally is now the 6th longest of the 24 bull markets of the last 113 years of data. Interestingly, of those bull markets, the average performance has been +127.36% (over 3.16 years)- the current market's performance is +127.72%.
While images projected on every media channel show lasers, fireworks, and celebrations, there are tensions rising still. As Al Jazeera reports, police are arresting crews of local TV stations affiliated with the Muslim Brotherhood, and as BBC Arabic notes, there are stores being ransacked in Qena and gun shots and clashes in Alexandria. As Stratfor notes, pro-government and opposition demonstrators have gathered in several places across Cairo (as indicated in the image below) and while no military force has been used to disperse the crowds yet - the military seems content to pre-position forces in a standby role and maintain order through a show of potential force - the skirmishes that are being reported hint at the potential for future instability.
The iWatch; Google Glass; the convergence between body and computer continues at a torrid pace, yet nobody knows just what the winning formula will be to make lazy, internet addicted consumers even lazier if more connected to the binary void. One proposal for what will certainly be an "out of the box" (or "in the box" as the case may be) next generation product, and one which may appear avant garde, controversial and even shocking, comes from the Onion which as usual is years ahead of its time in a world which is now straight from, well, the Onion which represents "a wearable computing device that streams videos into one eye, the internet into the other, and sucks your cock all at the same time." In short (to pardon the pun), a gold mine.
As central banks around the world conduct the greatest monetary experiment in human history in real-time around us, it's important to keep the Bullwhip Effect in mind. The mathematical odds that the world's many central planners, with their manifold partners in distributing fiat liquidity, are going to have the finesse to successfully steer their ships to safety through the shoals of inflation and deflation that threaten on either side, are very low. And that's before taking into account the unintended consequences of their more extreme measures. The bottom line is if another liquidity crisis hits (which Chris is warning may be at our doorstep), the one thing we can count on is that the response from our leaders will be ill fitting to the situation. To explain why, we connect the Fed and beer - very appropriate given the holiday tomorrow...
The Coup Is Complete: Egypt Military Tells Mursi He Is No Longer President - Tahrir Celebrates - Live FeedSubmitted by Tyler Durden on 07/03/2013 - 14:56
Well that was quick:
MORSI SPEECH YESTERDAY DIDN'T MEET PEOPLE'S DEMANDS
EARLY PRESIDENTIAL ELECTIONS TO BE HELD
EGYPT'S CONSTITUTION TO BE SUSPENDED UNDER PLAN
MILITARY AGREED GOVERNMENT OF TECHNOCRATS TO BE FORMED
US Official: Non-essential diplomats and embassy staff to leave Egypt
Egypt Muslim Brotherhood TV taken off air
Head of Egypt constitutional court to be sworn in as interim head of state on Thursday
*CLASHES IN EGYPT AFTER ARMY STATEMENT LEAVE 6 DEAD NATIONWIDE
*STATE DEPT TELLS U.S. CITIZENS IN EGYPT TO LEAVE COUNTRY
While the situation remains fluid, and the US state department remains in the dark as far as it wants the public to know, Reuters is reporting that Egypt's state news agency MENA states "Egypt's leading Muslim and Christian clerics and the leader of the liberal opposition alliance Mohamed ElBaradei will jointly present a roadmap for a political transition shortly." Of course, use of the word 'coup' is expressly forbidden but as @RichardEngel asks (rhetorically), "Is it a coup if the people ask for the military's help? The brotherhood clearly thinks it is."
State Department spokesperson Jen Psaki is doing her best not to appear like she is speaking for a dictatorship, and won't take sides, here are some headlines:
*PSAKI: MURSI SPEECH LACKED SPECIFIC STEPS, ACTIONS SPEAK LOUDER THAN WORDS, MURSI MUST RESPOND TO POPULAR CONCERNS
*PSAKI WON'T SPEAK TO UNCOMFIRMED REPORTS OF COUP, NO STEPS TAKEN ON RESCINDING U.S. MILTIARY AID TO EGYPT
*PSAKI: US EMBASSY IN CAIRO, CONSULATE IN ALEXANDRIA CLOSED
Uncertainty over global oil supply chain amid a 'tanks on the street' and a coup in Egypt, no worries. Portugal increasingly prone to testing Draghi's OMT 'promise' as Cabinet collapses, don't sweat it. US growth implications terrible given trade balance and ISM services, all good. It appears to us like US equity market algos were not told that today is a half-day as they progressed with the BTFD ramp in the first half after some serious declines early on.
A tweet from Gehad El-haddad, the media spokesman for the Muslim Brotherhood & Senior Adviser to Freedom & Justice Party, indicates that the NSA (or Snowden) may be busy.
All my accounts on the internet (Facebook, Twitter, Linkedin, Gmail) r being hacked at the same time !!
— Gehad El-Haddad (@gelhaddad) July 3, 2013
Courtesy of the BBC's Jeremy Bowen, we can see that the tanks in Cairo are now deployed. Surely this will add at least another 10 points to the Stalingrad and Propaganda 500 on anywhere between 2 and 3 contracts in today's hilarious zero volume revolutionary melt up.
One has to laugh. Following overnight news of an ongoing collapse in the Portuguese government and an epic surge in Portuguese bond yields, not to mention the ongoing military coup in Egypt, the S&P just hit highs as trading volume disappears and the BTFD algos take over.
Coup Under Way In Egypt, President Advisor Says, Warns About "Considerable Bloodshed", "Tanks On Streets"Submitted by Tyler Durden on 07/03/2013 - 11:47
The Egypt drama is reaching its inevitable, and largely expected, conclusion. From Reuters:
- EGYPT PRESIDENT'S NATIONAL SECURITY ADVISER SAYS MILITARY COUP UNDER WAY
- NO MILITARY COUP CAN SUCCEED AGAINST POPULAR RESISTANCE WITHOUT CONSIDERABLE BLOODSHED -MURSI AIDE
- MURSI ADVISER SAYS EXPECTS ARMY, POLICE VIOLENCE TO REMOVE PRO-MURSI DEMONSTRATORS
- EGYPT BROTHERHOOD SPOKESMAN SAYS TANKS ON STREETS, VIA TWITTER
- SEVERAL HUNDRED EGYPTIAN SOLDIERS, TOGETHER WITH ARMOURED VEHICLES, PERFORM MILITARY PARADE ON MAIN ROAD NEAR PRESIDENTIAL PALACE - REUTERS WITNESS
In other words, if Morsi leaves, you get a Civil War.