The rise in rents and home prices is adding additional pressure to the bottom line of most California families. In most of the US buying a home may make some sense. In California, the massive drop in the homeownership rate shows a different story. And that story is the middle class is disappearing...
For the first time since 2012, Bafin - Germany’s banking regulator, which for a minute looked like it might actually accuse Anshu Jain of lying about LIBOR - has closed a bank. All financial transactions by Maple Bank of Canada’s German subsidiary have been halted due to "imminent over indebtedness."
On the first day of this month, Google.. er, Alphabet.. turned in an impressive quarter. The stock jumped AH and just like that, Alphabet was the world’s most valuable stock, surpassing Apple. Since Monday, Apple regained the top spot in terms of market cap, but given the fanfare, it's worth taking a look at how the two most valuable companies in the world stack up to the rest of the field on a variety of "trivial" things like revenue and net income.
The bottom line is that Apple lost its founder, its leader, its passion, and its way. Get used to a double-digit stock. It's got much lower to go.
After yesterday's torrid, chaotic moves in the market, where an initial drop in stocks was quickly pared and led to a surge into the close after a weaker dollar on the heels of even more disappointing US data and Bill Dudley's "serious consequences" speech sent oil soaring and put the "Fed Relent" scenario squarely back on the table, overnight we have seen more global equity strength on the back of a weaker dollar, even if said weakness hurt Kuroda's post-NIRP world and the Nikkei erased virtually all losses since last Friday's surprising negative rate announcement. Oil and metals also rose piggybacking on the continued dollar weakness as the word's most crowded trade was suddenly shaken out.
Conspiracies are real. There are many more of them than people are aware. Many government conspiracies are heavily documented by governments themselves with the official records demonstrating the conspiracies openly available to the public. These conspiracies alone are sufficient to chastise those uninformed Western peoples who go around saying, “our government would never kill its own people." False flag attacks are used by governments in order to pursue secret agendas that they cannot publicly acknowledge. It is late in the game. If you do not stand up for truth, you will have no freedom as there is no freedom without truth.
"The world badly needs higher oil prices."
It certainly does feel like groundhog day today because while last week's near record oil surge is long forgotten, and one can debate the impact the result of last night's Iowa primary which saw Trump disappoint to an ascendant Ted Cruz while Hillary and Bernie were practically tied, one thing is certain: today's continued decline in crude, which has seen Brent and WTI both tumble by over 3% has once again pushed global stocks and US equity futures lower, offsetting the euphoria from last night's earnings beat by Google which made Alphabet the largest company in the world by market cap.
If there were any concerns that retailers and other vendors of goods and services are hunkering down on their ad spending, those fears can be safely swept under the rug because just days after Facebook's dramatic beat, moments ago GOOG likewise slammed expectations by beating massively both on the top and bottom line.
Something dire has happened to the intelligence and awareness of Western peoples who seem no longer capable of comprehending the machinations of “their” governments. Accountable government in the West is history. Nothing but failure and collapse awaits Western civilization.
Many believed that the NOK was backed by oil, not requiring a gold reserve. However, oil is no longer a scarce resource but an abundant commodity. Switzerland, Germany, America and other first world nations have gold reserves. Norway should have one too.
A case can be made that for Moscow it would be a tremendous waste of hard-earned foreign exchange to try to counter a rig against their currency they simply cannot beat, as the entire fiat financial power of the US is against them. Russia’s Central Bank by now should be all-out selling rubles for gold, and building Russia’s gold reserves. Well, it is happening, somewhat.
The time for more insanity has come... It is the Keynesian mantra: the fact that the policies recommended by Keynesians and monetarists, i.e., deficit spending and money printing, routinely fail to bring about the desired results is not seen as proof that they simply don’t work. It is regarded as evidence that there hasn’t been enough spending and printing yet.
Eventually the prospect of recession that can’t be cured by the central bank printing presses will ignite sheer panic in the casino. Then the monetary fools running them will be reviled to the ends of the earth. But not before the lunatic 100X valuations of the FANGs implode like those of all the high flyers which have gone before. For the third time this century it is time to sell the bubble. Yes, do back up the trucks!
“The real enemy of investors is not these fairly routine 10 or 20% downturns. The real enemy is the bear market that is associated with a recession or crisis, the one that knocks your equity block down by 40 or 50%. And actually it isn’t even the depth that is the real enemy. For most investors the enemy is time.”