Archive For: November 2017

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They Do Ring A Bell At The Top

We call it a casino for good reason. Yesterday they scooped up 10 of the most speculation-riven stocks on the planet and rolled them into a single futures contract based on  the FANG+ Futures Index. The intention, of course, was to give the momo crowd and robo-traders an ultra-liquid one-stop punt on the great disrupters that are purportedly turning the world's future into nothing short of awesome.

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November 7: Daily Contrarian Reads

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The Third Blind Bull

The robo-machines are raging this morning, trying to tag 2600 on the S&P 500. That means corporate earnings----in a world which is fracturing at the seams everywhere on the planet----are being valued as if economic nirvana has arrived permanently, world without end.

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November 6: Daily Contrarian Reads

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The Black Swan In Plain Sight---Debt Out The Wazoo

The black swan in plain sight does emit the Donald's orangish glow, but at the end of the day its true color is actually red. That is, monumental towers of rapidly rising debt loom everywhere on the planet. For the moment, the artificial cash flow from this unsustainable borrowing spree is keeping a simulacrum of growth and prosperity alive. Yet this whole outbreak of debt madness----represented by $225 trillion outstanding on a global basis----is careening toward a financial and economic dead end that will soon crush today's fiscally profligate politicians and heedless financial punters, alike, in a devastating reset of bond yields.

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Chart of the Day: The New Middle Kingdom Of Debt

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Funny Facts Friday

The funny numbers came in a veritable torrent today. For instance, the so-called U-3 unemployment rate dropped to a 17-year low of 4.1% for October. Yet the same BLS household survey which posted the lowest unemployment rate since early 2000 showed that the number of employed Americans actually sank by 484,000 last month.

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November 3: Daily Contrarian Reads

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"Janet Yellen Powell" Puts On Some Pants And A Tie

It can't get any worse than this. Jerome Powell is a Wall Street-coddling Keynesian and Washington lifer who passes for a Janet Yellen replica---that is, save for his tie and trousers and his as yet underdeveloped capacity to whine pedantically.

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November 2: Daily Contrarian Reads

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