Weekend Reading: Ignorance Is No Excuse

The “tax bill cometh.” According to the press, this is going to be the single biggest factor to jump-starting economic growth since the invention of the wheel... but “ignorance is no excuse.”

Bank Of America: "This Is The First Sign That A Bubble Has Arrived"

Japan 1989, US 1999, China 2007 are the bubble roadmaps: all saw bull markets mutate into bubbles and higher bond yields. And the first sign of bubble (outside Da Vinci, bitcoin...) should be divergence between credit and equity prices in technology...

JPMorgan: "This Is The Moment Everyone Went All In"

The question asked, and answered, by JPMorgan is what event catalyzed this rush to "all in" stocks for everyone from hedge funds to mutual funds, to robots, algos and finally, retail investors. The answer, as shown on the chart below, was the election of Trump.

Buchanan Warns "Unlike Nixon, Trump Will Not Go Quietly"

"On Aug. 9, 1974, Richard Nixon bowed to the inevitability of impeachment and conviction by a Democratic Senate and resigned. The prospect of such an end for Donald Trump has this city drooling. Yet, comparing Russiagate and Watergate, history is not likely to repeat itself."

Have We Reached Peak NFL?

How will the owners and managers of the multi-billion-dollar NFL empire handle the league's decline phase?

The Yield Curve Is Crashing-er

Stoccks are at record highs on the basis that Marco Rubio might a 'yes' and John McCain will make it through the weekend... but if everything is so awesome, why is the yield curve collapsing?