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The Market Is Not The Economy, But Earnings Are (Closer)

"... share prices, in general, operating on the far end of the probability spectrum; where everything has to go just right in the near future, including whatever may come out of Trump “stimulus” and economic policies. EPS, however, suggests, as the calculations for GDP potential, that that would be a very low probability outcome, including a high risk of “something” going wrong all over again just like it was in 2014."

SocGen: "The Average Stock Is Still 26% Down From Their All-Time Highs"

"All would appear to be rosy in the equity market with the consensus promising higher EPS growth in 2017 and bond yields remaining reasonably well behaved despite higher headline rates of inflation and a very slightly more hawkish tone from the US Federal Reserve. However scratch below the surface of these headline numbers and all is not as it seems."  -SocGen

Gartman Goes Long Crude Oil

"We wish to buy one unit each of Brent and WTI crude upon receipt of this commentary. We’ll risk no more than 3% from the current prices level and if nearby Brent were to trade above $57/barrel and if nearby WTI were trade above $55/barrel and were to remain there “For an hour or so to prove the merits of the moves."

Exposing The 9 Fakest Fake-News Checkers

"Trust us," they say. "We’ll help you navigate Facebook and filter out the fake news stories,” they promise. But just who are these self-appointed gatekeepers who claim to be the ultimate arbiters of what is or is not “fake news”?

TSA Security Breach At JFK Allows Eleven Unchecked Passengers On Flights

While Donald Trump has been consumed by concerns of halting dangerous foreigners from entering the US, the opposite happened on Monday morning, when eleven people walked through an unscreened security lane at John F. Kennedy International Airport in New York and reprotedly boarded flights to unknown destinations.

Fumbling Towards Collapse

"...the real issue hidden in plain sight is how America - indeed all the so-called 'developed' nations - are going to navigate to a stepped-down mode of living, without slip-sliding all the way into a dark age, or something worse."

About Those "Overly Optimistic" Trump GDP Forecasts, There's Just One Thing

While armchair and tenured economists took Trump to task last week over his reportedly "overly optimistic" GDP projections, it is worth recalling that in 2009 when Obama took office in the midst of a recession, the former president projected GDP growth of 3.5% to 4.5% for 2010-2014. He never even got above 3%.