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The Real Barack Obama Is Finally Exposed To Everyone

"Denial is an extremely powerful thing, and tens of millions of Democrats were completely bamboozled by Obama due to their personal obsession with the man. This is precisely why cult of personality worship is so dangerous and counterproductive when it comes to politics."

Frontrunning: April 28

  • World stocks pause near record highs (Reuters)
  • 'If there's a shutdown, there's a shutdown,' Trump says (Reuters)
  • Trump’s Tax Plan Hits First Land Mine: Blue State Republicans (BBG)
  • Congress to Vote on Stopgap Bill to Keep Government Open (WSJ)
  • Tillerson Seeks to Boost Pressure on North Korea at UN Meeting (BBG)

Just These Five Companies Account For 28% Of The S&P's 2017 Returns

Year to date the top 10 contributors have combined to account for 37% of the S&P 500 index return (more than double their market cap representation of 17%). The concentration among the top five is even greater, with those firms – AAPL, FB, AMZN, GOOGL, and MSFT – accounting for 28% of the return and 12% of market cap.

Global Stocks Pause Ahead Of GDP Report; Nasdaq Hits Fresh Record High

Despite yesterday's whopping beats by Amazon and Google which sent the Nasdaq to new record highs after hours, this morning futures S&P futures are little changed ahead of the closely watched Q1 GDP report, European stocks and Asian equities are slightly lower, oil is higher after Russia said it had reached the 300kbpd oil cut per the OPEC pact, and the dollar was modestly in the red.

Amazon Soars To New All Time High After Smashing Expectations

After two consecutive quarters of disappointing earnings reports (which however failed to keep the stock down), AMZN is back to its beating ways, reporting both revenue and EPS which blew away expectations, sending the stock to new all time highs.

China Launches First Domestically-Built Aircraft Carrier

China launched its second aircraft carrier Wednesday morning in northeast China's Dalian shipyard in Liaoning Province. The new carrier, the first built domestically, was transferred from dry dock in Dalian into the water at a launch ceremony on Wednesday morning.

Feudalism And The "Algorithmic Economy"

"Welcome to the Algorithmic Economy, a future which uses machines to determine how effective you can be and how little they can pay you in the process."

NASDAQ Rises Above 6,000 For The First Time Ever

Another day, another market record, this time in nice round numbers, as the Nasdaq hits new all time highs, rising above 6,000 for the first time ever, driven by the familiar five tech giants Amazon, Apple, Facebook, Google, Microsoft, which together now account for over 10% of the total US market cap.

Does America Have A Technology Platform Monopoly Problem?

"...the dominance of these firms in their specific niches presents a threat not just to economic competition, but liberty and freedom generally speaking. After all, the government itself doesn’t need to censor free speech if it can just lean on powerful companies with platform monopolies to do the dirty work for it."