By Graham Summers If you’ve been reading us for some time, you’ve probably wondered why the market keeps rallying no matter what. Time and again, stocks start to breakdown and then suddenly BOOM they erupt higher. CNBC and other financial media outlets then trot out various narratives to explain the action. “Stocks went up because the data was strong and …
One Man’s Opinion: Waiter And Bartender Jobs Surge In The Land Of The Free
By Simon Black The headline in the New York Times today read “U.S. Job Growth Bounces Back; Unemployment at 10-Year Low”. That’s certainly one way of looking at it. The US Department of Labor released its regular jobs report this morning showing the official unemployment rate is just 4.4% in the Land of the Free. That’s certainly a strong number; I’m …
One Man’s Opinion: Stockman: The Trump Reflation Fantasy Ends On Day 100
By David Stockman In honor of the Donald’s “Mother of All Bomb” (MOAB) attack on the Hindu Kush mountains Thursday, let me introduce MOAD. I’m referring to the “Mother of All Debt” crises, of course. The opening round is coming when Washington goes into shutdown mode on April 28, which happens to be Day 100 of the Donald’s reign. In theory, this …
One Man’s Opinion: Why The Big Banks Are Terrified Of Le Pen Winning In France (But Not BREXIT Or Trump)
By Gains, Pains & Capital France holds the first round of its Presidential election this weekend. The big worry for the markets is the fact that anti-Euro candidate Marin Le Pen could potentially win. Now, the polls show Le Pen as having NO chance of becoming Prime Minister. Of course, the polls also showed that BREXIT would not happen and …
One Man’s Opinion: Just A Quick Reminder: The Federal Reserve Is Almost Insolvent
By Sovereign Man September 10, 2008 was one of the last “normal” days in the world of banking and finance. That afternoon, the US Federal Reserve published its routine, weekly balance sheet report, indicating that the central bank had total assets worth around $925 billion. Just a few days later, Lehman Brothers filed for bankruptcy, kicking off the most severe …
One Man’s Opinion: FOMC Admits The Stock Market Is A Bubble, Along With Many Other Asset Classes
By ZeroHedge The much anticipated March FOMC minutes were released today (last Wed), and the minutes concluded exactly what I predicted in my last post titled “Is the Fed Trying to stop a “Market” that has gotten ahead of itself”. In it I said that the only reason they were raising rates unexpectedly is because they are trying to slow …