Archive For: September 2016

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October 3rd - Recommended Reads

My recommended reads for Monday, October 3rd, 2016

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David Stockman On "Wall Street Week": Get Out of Harms' Way Now-----The Casino Is Heading For A Crash

Former Reagan Budget Director David Stockman on the Federal Reserve and what is needed to boost the U.S. economy.

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Here's Why You May Want To Tiptoe Out Before The Party Ends

Private spending on capital goods is a measure of business confidence in the economy. If business people believe the economy will grow, they invest more in plant and equipment. If they are not optimistic, they pull in their horns. This week's Commerce Department report on Durable Goods orders contains a nugget or two that help us to see how business people are behaving in that regard.

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Weekend Reading: Back Where We Started

In last weekend’s newsletter, I discussed the “round-trip” move of the market following the Fed’s latest announcement to NOT hike rates. “It is not surprising the Fed once again failed to...

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Five Things You Should Know About the Deutsche Bank Train Wreck

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Mass Money Debauchery

The present day offers the opportunity for many incredible experiences.  Perhaps one of the most rewarding of all is bearing witness to the final days before the greatest economic crackup the world’s ever known.  Not since Nero clipped coins in … Continue reading

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They Shopped Until They Dropped-----August Consumer Spending Up 0.00%

Personal income rose 0.2% in August, as economists expected. However, consumer spending rose 0.0% vs. the Econoday Consensus estimate of 0.2%. The personal consumption expenditures (PCE) price index came in at +0.1% vs. a consensus of +0.2%. Last month...

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Yellen May Quit If Trump Wins----Please Do!

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Nein! Bundesbank Head Rejects Calls For German Fiscal Stimulus

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The Great Divergence: Orders Not So Durable, Stock Prices Bubble Higher

"U.S. factories reported flat demand for big-ticket goods in August, suggesting the economy continues to be restrained by sluggish business spending," reported The Wall Street Journal. They got that right (for a change)! In the stock market game of pin the tail on the number, the Journal pointed out that the economists it surveyed had, on balance, expected a drop of 1.5% in the seasonally adjusted headline fiction. The report noted some softness on a year to year basis, but did not look at the long term trend, nor how the numbers relate to stock prices. That's where we come in, because the numbers are meaningless without this perspective.

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