Wall Street Hockey Sticks - Correcting Sharply Downward Yet Again

At a constant 15 times EPS multiple, November’s forward earnings would have equated to a “fair value” of just less than 1,800 for the S&P 500 as an index; to about where it fell during August and February’s lurches. Pushing the EPS recovery further into the future has had the effect of, again, reducing 2016 earnings by almost 12% and thus forward “fair value” to only about 1,586. In other words, a great deal more uncertainty in terms of valuations for a market already quite overvalued.

Deadlocked Supreme Court Blocks Obama Immigration Plan

In one of today's widely anticipated rulings by the Supreme Court, the highest US legal institution dealt a blow to President Obama on Thursday, after it was deadlocked over the legality of the president's controversial immigration programs. In a one-sentence decision, the court affirmed a lower court's ruling blocking the programs from going forward. The 4-4 split leaves intact an appeals court ruling that said Obama overstepped his authority, along with a trial judge’s order preventing the program from taking effect.

Fed Up With The Corruption: Mexico On Brink Of Revolution

The Mexican government’s deadly crackdown on a teacher’s union protest has rattled the nation in recent days, as 200,000 doctors on Wednesday joined the ongoing national strike against President Enrique Peña Nieto’s neoliberal reforms. Anti-government sentiment is mounting after police forces opened fire on a teacher protest in Oaxaca on Sunday, killing at least eight.

State Department Disabled Security Software To Allow Hillary's Private Server Emails

Emails released under court order Wednesday to Judicial Watch show that in December 2010, State Department technical staff had to disable software on their systems intended to block phishing emails that could deliver dangerous viruses. The reason: The State Department was trying to resolve delivery problems with emails sent from Hillary Clinton's private server.

The European Union: Government By Deception

The benefits of the union flow to a select few countries, and to a select few within those countries. And ever fewer are selected as economic policies continue to fail. It is frankly beyond me to see why anyone would want to be part of that. It’s not about Boris Johnson or Nigel Farage or George Osborne, that is just more deception. It’s about being ruled by midgets, as Forsyth puts it...the very structure of the EU self-selects for sociopaths and/or worse.

President Obama Explains Why His Immigration Plan Is Right & SCOTUS Is Wrong - Live Feed

Following the dead-locked decision of The Supreme Court stymieing Obama's controversial immigration plans - noting that he overstepped his authority - it seems the President is not taking the highest court in the land's decision lightly. With 11 million illegal immigrants still in the US and the the empty "deciding" seat still vacant since the sad death of Justice Scalia, we wonder just what Hillbama is willing to give up to get access to those potential votes head of the election...

Heavily-Armed Gunman Killed After Opening Fire In German Cinema

Update: Police report shooter is dead.

Witnesses are reporting multiple shots fired as Bild reports a heavily-armed man is at large in a cinema complex in Viernheim, Germany. The armed man has barricaded himself in the center and SWAT are on their way...police say up to 50 wounded.

New Home Sales Plunge Most In 8 Months Following Sharp Downward Revisions; Median Home Price Tumbles

Despite exuberance in existing home sales, new home sales just printed 551k SAAR - missing expectations for the first time since Oct 2015 - sliding by the most since Sept 2015. With the last 3 months of exuberant increases - to 8 year highs - now revised drastically lower; and median prices tumbling to the lowest since June 2015, the picture of the US housing recovery is considerably less rosy than before... time for a rate-hike?