With the threat of a potential 'black swan' event with a Trump Victory, The Elite have pulled out their "Ace in the Hole" - Russia. Russia is the most feared and misunderstood of all US artificial villians (even more than Islamic Terrorists).
For the first time since 2012, the Richmond Fed business surveyr has been in contraction (below 0) for 3 straight months (and 4 of the last 5). Worse still, the six-month average of the business survey has not deteriorated this fast since Q2 2008. While the underlying components were mixed, inventory levels dropped (bad for GDP), average workweek tumbled (bad for incomes), and new orders re-plunged.
"On November 8, you Joe Blow, Steve Blow, Bob Blow, Billy Blow, all the Blows get to go and blow up the whole goddamn system because it's your right. Trump's election is going to be the biggest fuck ever recorded in human history and it will feel good."
Despite guiding notably higher for the holiday quarter, and beating modestly on EPS, AAPL just reported its third consecutive quarter of declining results and iPhone sales, and its first fiscal year of lower revenue since 2001. The market was not impressed, despite Tim Cook's strong guidance for the holiday quarter when AAPL expects to make as much as $78 billion.
Having closed below $50 for the first time in 3 weeks, WTI Crude extended its losses to 3 week lows after API reported crude inventories rose by a bigger than expected 4.8mm barrels (more than double the 2mm expectation). Cushing inventories drew down by the most since Feb 2014 (we suspect the spillage was the driver), Gasoline inventories built notably despite expectaions of a sizable draw, and distillates inventories drew down for the 5th straight week.
Alliances are transmission belts of war. So our Founding Fathers taught and the 20th century proved. A U.S. decision to terminate the Mutual Defense Treaty (with Philippines) would also send a wake-up call to every ally: America’s Cold War commitments are not forever. Your security is not more important to us than it is to you. As Donald Trump has been saying, we are starting to put America first again. On this, maybe even President Obama could find common ground.
Despite the constant puke of propaganda that a Trump presidency will bring hell on earth and crash stock markets (remember Brexit?), it appears market participants are much more concerned about a Clinton win...
In what may be the worst news yet for DB's employees, moments ago Bloomberg reported that the German Bank is exploring "alternatives to paying bonuses in cash" as Chief Executive Officer John Cryan seeks to boost capital buffers.
"I’ve been trying to figure out what common trait binds Clinton supporters together. As far as I can tell, the most unifying characteristic is a willingness to bully in all its forms... I endorse Donald Trump for President of the United States because I oppose bullying in all its forms."
Could the markets rocket up to 2200, 2300 or 2400 as some analysts currently expect? It is quite possible given the ongoing interventions by global Central Banks. The reality, of course, is that while the markets could reward you with 250 points of upside, there is a risk of 600 points of downside just to retest the previous breakout of 2007 highs. Those are odds that Las Vegas would just love to give you.
As a result of this projected decline in EPS, Apple is expected to be the largest detractor to expected earnings growth for the S&P 500 Information Technology sector for Q3 2016. The blended earnings growth rate for the Information Technology sector is 4.2%. Excluding Apple, the blended earnings growth rate for the sector would improve to 10.9%.
A new Podesta email reveals a cozy relationship between Facebook COO, Sheryl Sandberg, and Podesta which is particularly disturbing in light of the fact that former Facebook news curators previously admitted the company "routinely suppressed conservative news."