After flirting dangerously with 3000 on the downside, S&P futures managed to rebound thanks to some strong earnings and, of course, "trade optimism" even as two critical Brexit votes loom.
A truly private sector central bank without implicit or explicit government guarantees, would behave differently from current central banks, which take their objective to be the promotion of the public good.
"What America has is an economy stagnating in debt with a growing amount of consumer income diverted to the service of debt...An economy such as America’s has nowhere to go but down..."
"You’d think that with this policy now being continually in operation that people would have become aware of the dilution fraud...But as Keynes, the architect of it all said, not one man in a million understands money..."
"It’s pretty eye-popping if you’ve been doing this for 20-plus years, to see how much more leverage a number of these companies can incur with the same credit rating."
China’s latest economic data continues to paint a subdued picture for commodity and energy demand, while lower drilling counts in the US raise questions about the pace of future supply growth.
"This time will not be 'different'... If the last two bear markets haven’t taught you this by now, I am not sure what will. Maybe the third time will be the 'charm'..."
Over time, taxes will creep down the income scale as the income tax did, eventually hiking the tax burden for the middle class, while also cutting productivity which will drive down wages and wealth for everyone.
