Consumer Confidence

Gresham's Law

... the marginal price setter is “irrationally exuberant”, or dare we say it out loud? “Greedy.”

Is America In Terminal Decline?

"The cut-off point is 2009... Before that, borrowing could create the illusion of a rising standard of living. Those days are gone. And it’s very hard to see, when you take a good look, what could make them come back."

Unbridled Exuberance...

"...what is forgotten in today’s exuberant celebrations... is that both the economy and stock market historically peak when skies are blue and no storm clouds are in sight..."

Frontrunning: November 7

  • U.S. Allies Fear Trump Will Pull a Nixon in China (WSJ)
  • Partisan Tensions Flare as GOP Revises Tax Bill (BBG)
  • Tax Overhaul Faces Major Hurdles (WSJ)
  • Multinationals Scurry to Defuse House Tax Bill’s ‘Atomic Bomb’ (BBG)
  • Parties Watch New Jersey, Virginia Votes for Wider Signals (WSJ)

Things Couldn't Be Better... Right?

"Sometimes a single chart reveals the truth being obscured by the Deep State propaganda machine, working overtime selling their economic recovery narrative..."

World Stocks Soar To New Record Highs As Oil, Metals Surge Ahead Of The Fed

US equity futures have hit a new all time high, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday.

US Futures Rebound After Disappointing Chinese, European Data

Yesterday's sharp Chinese selloff is now a distant memory after the BTFDers emerged, and this morning U.S. equity futures are once again levitating as the FOMC begins its two-day policy meeting, following an uneventful BOJ announcement on Tuesday morning which left all QE parameters unchanged. Asian stocks traded mixed steady while European shares climb.