Tales From A Late Stage Bull Market

"An endearing quality of a late stage bull market is that it expands the universe of what’s possible.  Somehow, rising stock prices make the impossible, possible.  They also push the limits of the normal into the paranormal."

Peter Schiff Warns Of "Calm Before The Storm"

"Investors may be trying to convince themselves that the outcome will be different this time around. But the only thing that is likely to be different is the Fed's ability to limit the damage..."

Frontrunning: October 20

  • Trump’s Tax Plan Takes a Big Step Forward, But What Comes Next Won’t Be Easy (BBG)
  • Low pay, no bonus: U.S. retailers struggle with hiring (Reuters)
  • Donald Trump Jr. Becomes a Rainmaker on the Republican Speaking Circuit (BBG)
  • In Kuroda's face - researchers find ways to predict central bank changes (Reuters)
  • One Month After Maria, a Crisis Still Rages in Rural Puerto Rico (BBG)

General Electric Plunges 8% After Slashing Guidance

General Electric shares plunged 8% in the pre-market after the company cut its 2017 profit forecast while its new CEO grapples with one of the deepest slumps in the iconic US manufacturer’s history. The company reported that adjusted earnings this year are expected to be only $1.05 to $1.10 per share, down over 30% from a previous range of $1.60 to $1.70 a share.

Who's 'Winning' In Africa?

"The US military-industrial complex has overtaken and indeed supplanted State Department diplomacy in Africa, as elsewhere in the world, and is intent on escalating its military presence while China is quietly winning friends and influencing people by engaging in massive, well-planned economic projects. No prizes for deducing who is winning in Africa."

Europe's Secession Problems Aren't Going Away

"Europe's democracy problem persists. Is democracy only allowed when it is no threat to the established status quo for nation-states? Should the central government send in the troops to beat citizens and seize ballots when people vote 'the wrong way'? "