"... what’s happened in stocks is more a myth than actual reality. Investors in stocks are buying at ridiculous valuations based on the premise that the Fed can create a recovery through liquidity. And what 2014 and 2015 show us is that this simply wasn’t true! ...the longer the earnings recession lingers, the higher the risk that stock investors will realize that they’ve been following the wrong story all along!"
A newly-formed governing council in Yemen could work with Russia to "fight terrorism" by allowing Moscow use of the war-torn country's military bases, Yemen's former president said on Sunday. "In the fight against terrorism we reach out and offer all facilities. Our airports, our ports... We are ready to provide this to the Russian Federation," Saleh said in an interview.
As ride-sharing startup Lyft is trying to sell itself, Uber told investors in the past few weeks that the company wouldn't pay more than $2 billion to purchase its main U.S. competitor. According to Recode, Lyft has sought as much as $9 billion in a buyout offer but nobody is prepared to pay anywhere near that amount.
The "Clinton Defense" is becoming a popular argument in the cases of many "rank-and-file" military personnel facing espionage charges for "far lesser offenses" than those committed by Clinton. Though at least one expert "doubts" whether the defense will be "effective." Shocking.
While much of the media focus over the past week has been on the potential corruption scandal involving Ukraine's former president and Donald Trump's now former advisor, Paul Manafort, perhaps it is time for it to shift attention to the Podesta Group, the lobbying firm which belongs to Tony Podesta, the brother of Hillary Clinton campaign chairman John Podesta
Norway is heading straight into stagflation and at some point Norges Bank will be forced to tighten monetary policy into a weakening economy. The world should take note, because the real end game for central banks will come when they are constrained by rising inflation in a weakening economy. We all know what happened after the 1970s stagflation; and hiking rates to 20 per cent in an overleveraged world is a lot harder than it was back then.
Apple stock is sliding very modestly for now as Digitimes reports Tim Cook has asked downstream part and component suppliers in Taiwan to reduce quotes for iPhone 7 devices by as much as 20%...even though order volumes for new phones are reportedly 30% lower than those placed a year earlier.
For the establishment, his billions mean nothing; Trump’s treated like a bum. Underneath all this sound and fury, something else is (quietly) going on. Powerful business interests discreetly supporting Trump – and away from the media circus — are convinced he’s got the road map to victory. The question is whether he may be able to tame his erratic behavior to seal the deal.
Will the boys and girls still in the casino after the current election gong show is over patiently wait for their next fix from a beltway governance process that is in sheer pandemonium and stalemate? We think the odds are between slim and none. As we indicated previously, if Trump is elected the fiscal process will lapse into confrontation and paralysis for an indefinite spell.And if Hillary is elected, the Republican House will become a killing field for almost anything she proposes, and most especially the rank Keynesian apostasy of outright and massive debt monetization...
The Fed may have gotten everything wrong, as recent "research" by John Williams confirmed earlier this week, but when it comes to what's important the Fed is right on top of things. Things like starting its own Facebook page.