On November 8th, the US Presidential election will take place. Below Bank of America lists eight trades, all specific to the election, some applicable to whoever wins, some dependent on the election result:
Overseas buyers accounted for a paltry 0.7% of the C$6.5 billion of residential real estate purchases in August in Metro Vancouver; this represents a 96% plunge from the seven weeks prior, when foreigners were responsible for 16.5% of transactions by value.
Alan Greenspan is confused – again. The man who admitted to the world a decade ago he didn’t know much if anything about interest rates is now trying to change that reputation by suggesting yet again interest rates are set to rise.
While the source of the powerful blast that rocked the crowded streets of Budapest this evening is unknown, there is an extremely heavy police presence as multiple injuries (including police officers) are reported.
tax collections will be down 2.1% in the second quarter relative to last year, reflecting a decline of 3.3% in personal income taxes and a 9.2% plunge in corporate tax collections. The trend in individual income taxes at the state level in recent quarters tracks the sharp decline we have reported previously at the federal level.
“Wells Fargo knew that their unreasonable quotas were driving these unethical behaviors that were used to fraudulently increase their stock price and benefit the CEO at the expense of the low-level employees,” the bankers alleged in state court. “Although this policy was known to top executives of defendants, plaintiffs, as bankers, were blamed for harm to clients and retaliated against."
Our liquidity-drunk “markets” remain over-priced due to the chronic intervention of the global central banking cartel, which has demonstrated over and over again that it won't tolerate even the slightest drop in asset prices. Once faith in central banks is lost, their power to delay the deflationary day of reckoning goes with it. The stupendous amount of debt they have helped heap onto the financial system since 2008 will start going into default and the only question that will matter is: Who is going to eat the losses?
"How is this not classified?" Clinton aide Huma Abedin exclaimed once informed that the sender of an email to Hillary Clinton was believed to be pseudonym used by the president,. "Abedin then expressed her amazement at the president's use of a pseudonym and asked if she could have a copy of the email."
Hillary cancelled her Sunday trip to Charlotte after the Mayor asked her to stay home citing "stretched resources for security" with police "working around the clock." Ironically, this is the exact same reason that Hillary elected to not visit Louisiana back in August.
Chicago suffered through its worst summer of violence in decades. In August, over 400 people were shot and 80 killed. Activists and public unions blame income inequality. Income inequality is rising, but very few understand who is to blame. And the tax hikes and pay hikes that unions seek exacerbate the problems and cause white flight. Many claim education is the answer, but the Chicago public school system is not only financially bankrupt, it is morally bankrupt.
It is time for central banks to start acknowledging their limitations, and doing so by acting and not talking about their future intentions. It is also time for investors to stop believing that central banks had the answers to begin with.