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Investors Have Become Brain Dead


Posted by Bill Bonner - Diary of a Rogue Economist

on Friday, 23 June 2017 06:39

brain dead by barfsimpson-d9e0lg0DUBLIN – Oil fell below $43 wednesday. Brick-and-mortar retailers are being emptied. The auto industry – including $1.2 trillion in auto debt – is stalling.

Meanwhile, restaurants are having trouble filling their tables. Consumers aren’t buying, perhaps because their incomes have gone approximately nowhere for decades.

House ownership is at its lowest level in half a century… along with employment participation. And consumer price inflation, as measured by the Bureau of Labor Statistics, is falling. So are Treasury yields.

All of these things – and more – point in the same direction: toward a recession.

Blinded by the Fed

Meanwhile, in a parallel universe centered in Lower Manhattan, prices for stocks still sell near record prices.

The stock market is supposed to look ahead. It is supposed to see more than any one person. It is supposed to detect signs of trouble long before they appear to the naked eye.

But it seems to see nothing at all. The subject of today’s Diary: What is the cause of this blindness? Who’s to blame?

Wasting no time on the evidence, we collar the culprit and get out a rope.

Why can’t the stock market see what is going on in the real economy?



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Gold & Precious Metals

Major Gold Rally Is Starting


Posted by Morris Hubbartt - Super Force Signals

on Friday, 23 June 2017 06:15

Today's videos and charts (double click to enlarge):
 

SFS Key Tactics & Video Update

za222



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Wealth Building Strategies

Marc Faber Believes in a Possible U S Stock Market Bubble in 2017


Posted by Marc Faber - Gloom Boom & Doom Report

on Thursday, 22 June 2017 15:15

 

Faber 's typically controversial and contrarian views have earned him the label of Dr. Doom, though even his harshest critics must admit that he's been unerringly correct in his market forecasts over the past three decades. He also trades currencies and commodity futures like Gold, Natural Gas and Crude Oil. 

King-World-News-Marc-Faber-Unveils-The-Biggest-Surprise-For-2015-And-The-Greatest-Danger-Facing-The-World-Today



Gold & Precious Metals

Welcome to Deflation


Posted by Martin Armstrong - Armstrong Economics

on Thursday, 22 June 2017 07:29

Inflation

People are just starting to grasp why deflation is also present in the USA. Despite all the screaming about Quantitative Easing, most remain confused why hyperinflation has not taken place. Most are Oblivious to the fact that there is a dynamic process involved that is a lot more complex than traditional economics teaches in school. Sorry, but the quantity of money theory does not work. It is way too simplistic and this has led to massive confusion. Even the central bankers are starting to call with questions. Economics is just not as it seems and it has ignored international capital flows confining all analysis to purely domestic situations.

Whole-FoodsThe latest news that Amazon was buying Whole Foods saw a plunge in retail and grocery stocks. Amazon put book stores on the list of bankruptcy victims and we see similar troubles for Sears, the company that made its name using the railroads to deliver goods by mail order – the internet of the 19th century.

The deflationary tone has been in place since 2015.75 and it is a combination of problems, one of which is the technology advancement. Many people see the advance of robots displacing jobs. However, the reason unemployment rose dramatically to 25% during the Great Depression was not from the collapse of industry. It was (1) the advancement of technology with the combustion engine that wiped out agricultural jobs (aside from the horse industry) and (2) the vast dust bowl which then wiped out farms entirely.



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Timing & trends

Could Recent FANG Weakness Be Signaling the End of the Bull Run?


Posted by Financial Sense

on Thursday, 22 June 2017 07:19

As we survey the financial markets and global economic backdrop, it appears that a change in the wind could be slowly taking place. Across the tides of global capital markets, a chillier wind may be starting to blow, ushering in what could soon be some sweeping changes in the major trends for primary capital markets. In China, the air of debt deleveraging seems to be taking root, with tightness in the money markets, bond market collapses, bond market closures, and inverted yield curves. In addition, there are also widespread rumors surrounding the viability of an assortment of wealth management products that have embedded duration mismatch problems baked into the cake.

Here at home in the USA, boom times remain in full swing with stock market averages busting out to new highs seemingly day-after-day. Yet, behind the bullish headlines, there seems to be developing a clear pattern of parabolic (terminal) excess within the technology space, a pattern familiar to those market watchers who recall 1999 and 2008.

06

Above: A basket of Large Cap Technology Stocks with Intermediate ARMS (inverted) is also extremely overbought. These types of readings tend to highlight medium term extremes so even if prices recover, there is a larger overtone to this type of bearish reading.

....continue reading HERE


...also from Financial Sense:

Central Banks Are Driving Many to Cryptocurrencies



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Notes From Michael - June 21st

Posted Wednesday, 21st June 2017  "The State is the great fiction through which everyone endeavours to live at the expense of everyone...

- posted by Michael Campbell

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