Since Trump’s election, the US stock market has climbed unstoppably along a remarkably steep path to round off at a teetering height. Is this the irrational exuberance that typically marks the last push before a perilous plunge?
"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."
Well this was a "no brainer."The Wall Street Journal reports that billionaire investor Carl Icahn is expected to be named special adviser to the president on overhauling federal regulations, according to people familiar with the matter.
Millennials finally get to claim a trophy for an achievement they actually earned (no participation medals here)...that's right, Millennials have officially set a 75-year record for highest percentage of young adults living at home with mom.
Heading into the New Year with oil prices above US$50, both OPEC and the U.S. shale industry are claiming victory in the latest oil war battle - and both expect to benefit from higher prices, but there can really only be one winner here.
Deutsche Bank shares are sliding this morning after headlines from CNBC reporting a settlement is close (as soon as Wednesday) with the US Justice Department over mortgage fraud. With analyst expectations/hopes in the $2 to $5 billion range (against the initial $14 billion fine), reports say the bank is set to pay "less than $14 billion" which has perhaps spooked investors with its uncertainty.
With the Yuan at its weakest against the Dollar since May 2008, it's becoming harder and harder (and more and more expensive) for China to hide/defend its devaluation strategy (CNH down over 13% since the 'one-off' Aug 2015 devaluation)... "It’s not normal for this to be taking place.” Simply put, the rate spikes and contorted yield curves are symptoms of a dysfunctional, manipulated market.
Iraq’s national oil company, the State Organization for Marketing of Oil, or SOMO, instead of cutting output, has plans to increase deliveries of its Basra oil grades by about 7% to 3.53 million barrels a day. This suggests that non-compliance with the Vienna OPEC meeting is practically assured.
Whatever you think of Trump, clearly the oligarchs who rule us fear him. The oligarchs are trying to keep Trump out of the presidency, and they are trying to associate truthful reporting with foreign influence. Who wins this war determines the fate of America.
Georgia's Secretary of State has now confirmed that its election systems were the subject of cyberattacks on 10 separate occasions with each attack originating from a Department of Homeland Security IP address. With each attack occurring around critical registration and voting deadlines, GA's Secretary of State said "It makes you wonder if somebody was trying to prove a point."