Shiller Warns: Stocks Are Partying Like Its 1929!

"I hate to rain on this parade. But the latest lurch upwards in stock prices has just taken market valuations up into the skybox levels, according to the market timing measure with the longest pedigree on Wall Street. It’s just gone from flashing amber to flashing red - meaning, if it’s right, that there is now a significant and rising risk of a crash, and a bigger risk of simply very poor returns."

Populism In America: "Follow The Money"

If you want to understand today's populism, don't look to the mainstream media's comically buffoonish propaganda blaming the Russians: look at the four issues listed below...

German Companies Pull Ads From Breitbart

German carmaker BMW, the restaurant chain Vapiano, supermarket chain Rewe, and Deutsche Telekom have all pulled their ads from Breitbart site due to concerns about the website's content: "The positions held by Breitbart.com contrast with Vapiano's values, such as openness and tolerance," said the restaurant chain.

Something's Wrong

Yesterday, as we noted, saw VIX and stocks rise together (an unusual event). Today that trend is even more pronounced and the market action is very 'odd' post-ECB. Lot of chatter on huge option gamma forcing market-makers to chase moves...

Art Cashin Explains Yesterday's Furious Rally

"Just before the buy programs kicked in, the rally in the Dow Transports was shifting up a gear as the index was on the verge of punching through to a new record high. If the Transports made a new record high, it would confirm the record high in the Industrials, thus giving a Dow Theory buy signal. As that realization spread, the algorithms kicked in with buy program after buy program and the race was on."

The Globalization Genie's Long Left The Bottle

Empty labels, fake news and oceans of debt keep the systems - somewhat - going for now. But the genie’s long left the bottle. The ‘incumbents’ have failed their people for far too long, most of all economically. And they keep on claiming that everything will be alright, everyone will be better off if only we execute more globalization, and give them all a few pennies more.