Apple

Trump As Lightning Rod (Not Just For Disaffected Progressives, But For Panicked Insiders)

Trump isn't just a lightning rod for delusional Progressives who were happy to see their real-world fortunes erode away as long as the Insiders in charge kept muttering the desired symbolic speech acts; he is also a lightning rod for Insiders fearful that their Insider apple cart is about to be upended, and they might actually have to work for a living, or actually compete in the real world--something they know they are ill-prepared to survive.

Apple Hikes UK App Store Prices By 20% In Response To Plunging Pound

Apple has backed up last year's 20% hike in laptop and computer prices with a sharp rise in app costs. The move will mean - for the first time - that there is price parity between the dollar and the pound as an App Store product that used to cost 79p in the UK will now be 99p. US customers pay 99 cents.

Why The Stock Market Has Soared (And We'll All Soon Know What It's Like To Be A Madoff Client)

The absolute disconnect of asset prices from economic activity is and will continue to be unlike anything we have seen. This is no more of a "free market" than shooting a cow in a pasture is "hunting".  "Invest" accordingly, but know full well the ill gotten gains will one-day, someday, sooner than later, be entirely gone and we'll all know what it felt like to be Bernie Madoff clients.

Taiwan Tech Giant May Open US LCD Plant In Response To Trump's "Make In America" Call

 Hon Hai Precision Industry and its Japanese subsidiary Sharp have begun studying the possibility of building a liquid crystal display panel plant in the U.S., a Sharp executive told Nikkei on Friday. The joint investment plan was proposed by Son, the Sharp executive said, and was put 'on the table' in response to Trump's 'Make in America' call.

BofA Warns Of 'Icarus' Trade: "A Wobble Then A Melt-Up... Followed By A Melt-Down"

"After a Jan/Feb wobble, we believe stocks & commodities will have one last 10% meltup in H1," explains BofA's Michael Hartnett in his latest note, but, he adds, by the end of 2017 we will see a "meltdown." BofA awaits the endgame of the so-called "Icarus Trade" amid unambiguous signs of bullish investor Positioning, bullish Profit expectations & hawkish Policy from Fed/ECB, as well as outperformance from laggard risk assets; before calling for the Big Short.

Frontrunning: January 10

  • Immigration in focus as U.S. Senate confronts Trump nominees (Reuters)
  • Jeff Sessions to Be Grilled on Race in First of Hearings (WSJ)
  • Libya Ramps Up Oil Production, Threatening OPEC Plans (WSJ)
  • Valeant to sell assets for $2.12 billion to ease debt load (Reuters)
  • Industry Lobbyists Champ at the Bit, Awaiting Business-Friendly Policies (WSJ)
  • Yahoo to be named Altaba, Mayer to leave board after Verizon deal (Reuters)

Is A Bitcoin "As Good As Gold"?

The price of Bitcoin seems to have briefly exceeded the price of gold for the first time this week; however, this comparison is completely arbitrary. Gold remains the only true global money with a size and volatility comparable to that of fiat currency.

How The US Could Win A Trade War With China

Both countries would lose in a full-blown trade war, but it is the United States that has the upper hand. Trump understands this, which is why he is pushing China to get a better deal for America. If China also understands it’s in a weaker position, it will be able to avoid a lose-lose scenario.