Economics


Watch a CNBC Commielib Get Pissed When Former Wells Fargo CEO says He’s Voting Libertarian (VIDEO)

by John Galt June 27, 2016 20:55 ET Thank you CNBC for the priceless picture of your commielib market propagandist when she got her Hillary Mojo look on. Does she look mad to you? To me, she’s freaking furious. Why? A guest did not follow the CNBC libtard script even though he is a West coast multi-millionaire. Who pissed her off? The former CEO of Wells Fargo Bank, Dick Kovacevich who failed to answer the robotic “well Hillary is better than Trump” softball question tossed up to him. His answer however,…


06.27 Market Deathburger: The EuroCarnage Continues after Brexit

by John Galt June 26, 2 016 15:30 ET I shall keep this as a running update as trading and markets open. Needless to say, currency markets in Asia have opened and the carnage continues unabated so look for Bank of Japan and Swiss intervention soon enough. 05:00 ET – While equity futures are not indicating panic, the bond market is screaming a move into safety. This could be another long day and the key level to watch on the S&P 500 is 2020 as a violation of that figure at…


Spainaggedon Election: Pro-EU Mainstream Parties INCREASE Seats but no Clear Majority

by John Galt June 26, 2016 08:30 ET Sometimes the bull gets you, sometimes you get to sprinkle some A-1 Steak Sauce on him when he’s medium rare. Today we find out if Spanish voters are inspired by the Brexit vote to take a strong stand against the European Union’s insane bankster inspired austerity programs which are running in parallel to the banking bailout which has done nothing to help the average Spanish citizen to improve their standard of living in over a decade. Sound familiar? I shall try to keep…


Middle East Markets Hit Hard but Stabilized on Sunday after Brexit Vote

by John Galt June 26, 2016 11:00 ET The running theme in equity markets around the world has been to panic, sell, and pray for some sort of government intervention. In the Middle East that is no different except the intervention must come from the monarchies not from central banksters and indeed that is what happened throughout the Gulf Cooperation Council (GCC) nations today. The interesting pattern in all the charts is massive selling on the open and some recovery towards the close however in those nations where the royal families…


06.26 More Turmoil in the UK as Labor Party Faces Internal Revolt (Updated)

by John Galt June 26, 2016 09:00 ET UPDATE 13:00 ET – From the UK Guardian: Tom Watson, the deputy Labour leader, has issued a statement on today’s development. Here it is in full. I was deeply disappointed to see Hilary Benn sacked in the early hours of this morning and equally saddened that so many talented, able and hard-working colleagues felt they had to leave the shadow cabinet. My single focus is to hold the Labour party together in very turbulent times. The nation needs an effective opposition, particularly as…


Today Brexit, Sunday Spainaggedon

by John Galt June 24, 2016 21:30 ET The political and financial elites never learn their lesson. Just twenty-four hours ago Nigel Farage of UKIP was proclaiming a narrow defeat for the “leave” faction in the Brexit election only to be surprised himself some four hours later by the overwhelming returns showing the British citizenry rejecting the bureaucratic lies and nightmare known as the European Union. Fast forward to this morning where Spain’s center-right Prime Minister Rajoy decided to act like Prime Minister David Cameron with his threats of the consequences…


Today’s Market Action was Ugly but not the Big One

by John Galt June 24, 2016 20:15 ET With much respect to the Sex Pistols for creating this song just for events like today: But this wasn’t the big market crash that the bears or for that matter, the bulls, had hoped to get out of the way. The NYSE volume was 10:1 + to the downside, but not the NASDAQ VOLUME nor the advance/declines (data via WSJ.com): Meanwhile the bellwethers are signaling trouble ahead. In honor of Brexit let us just say they are sinking like the old Great Britain…



06.24 US MARKET DEATHBURGER: Black Friday Brexit Burgers Now Being Served

by John Galt June 24, 2016 02:00 ET I have never been so happy to be so wrong in all my life. I honest to God did not think my limey crazy assed brethren had the jewels to vote for Brexit, but they did. If TPTB do not stop them through a technicality or loophole in the Parliament, then this move is nothing more than a vindication of the insanity we are witnessing in American politics where an unconvicted felon is allowed to run against a reality TV show millionaire/billionaire. Thus…




06.23 BREXIT Updates: The End of Great Britain, the Start of French Britain

by John Galt June 23, 2018 18:00 ET I remember reflecting on history at one time where I said if the United Kingdom ever succumbs to the evil lure of globalism and refuses to act proud and independent, then the Western world may well be lost. It would appear, barring a miracle, that the news will reflect a victory for “remain” and the British empire which was once a proud lion, will instead join the world community of cowardly lions which submit to every whim of the global banking syndicates. Of…


Brexit is a Big Fat Nothing

by John Galt June 22, 2016 19:30 ET Does anyone really think that this is Churchill’s United Kingdom where they stood alone in the face of the Nazi threat and kept Hitler at bay for years? I don’t. This is more of what Great Britain has become (From the UK Daily Mail, March 7, 2014): Parents fury as pork sausages are banned from the school menu and replaced with halal meat Excerpted: Parents have condemned a school’s decision to ban all pork products from the menu and replace other meats with…


Monday was NOT a Good Day for the Stock Market

by John Galt June 21, 2016 05:00 ET The stock market on Monday was a lot like the Trump campaign; it looked good from the outside but when you lifted the hood it was a complete and total wreck. Yesterday was a complete and total technical disaster. Huge rally on light volume, selling into each hourly rally, then failing to close anywhere near the highs with selling into the close. This morning futures are up but once the gap is filled in the 2091-2097 range look for more selling as anyone…


Bellwether Weekly Update: AAPL & GS Clank Again this Past Week

by John Galt June 19, 2016 21:30 ET   So another week and another warning from my bellwether stocks, Apple and Goldman Sachs. There is no serious middle class consumer demand and there appears to be no desire to invest in further expansion of companies unless it is to use cash on the balance sheet to buy smaller companies like Microsoft did with LinkedIn. Thus based on futures tonight we might get a dead iPhone bounce or maybe even a better dead Bankster bounce from Goldman but in the end, the…




MSCI will NOT Include China A-Shares in Emerging Market Index

by John Galt June 14, 2016 17:14 ET WOW! This will not help the Shanghai markets tonight and probably will cause massive tankage in Hong Kong also. Via CNBC: Key MSCI emerging markets index rejects Chinese mainland stocks, again MSCI on Tuesday said it would delay inclusion of the mainland-traded Chinese A shares in its key emerging market index. In a release, MSCI said investors needed more time to assess the effectiveness of the Qualified Foreign Institutional Investor program (QFII) investment quota allocation, capital mobility policy changes and the effectiveness of…


German 10 Yr Bund Yield Goes Negative for First Time in History

by John Galt June 14, 2016 04:50 ET Just when anyone in the investing world thought it couldn’t get any more nuts than it has been, German government bonds send the most alarming signal ever with their 10 year Bund yield dropping into negative territory for the first time in history: Meanwhile, US 10 Year Treasuries are now have a yield with a 1.5 handle this morning: If the US 10 year breaks below 1.50% that usually correlates with a stock market some 10-15% below current levels. This really ties the…



Ambrose Evans-Pritchard: Why I am voting to leave the EU

by John Galt June 12, 2016 20:10 ET In what can only be called a stunning editorial in tonight’s edition of the UK Telegraph, Ambrose Evans-Pritchard hammers it home with a stunning rebuke of the pro-European Union forces inside the United Kingdom with this editorial: Brexit vote is about the supremacy of Parliament and nothing else: Why I am voting to leave the EU Holy smokes! This is somewhat earth shattering as the conventional economic thought inside England was to remain and muddle through with a partnership both with France and…


Market Trouble Ahead as the Bellwethers Break

by John Galt June 12, 2016 19:40 ET I’m going to keep this short, simple, but loaded with graphs so everyone can see what happened last week to the 2 bellwether stocks in the equities markets, Apple, Inc. and Goldman Sachs. Why I have tagged those two issues is irrelevant; I just advise everyone to remember 2007-2009 when General Motors and IBM were the bellwethers and what happened to the markets after they broke down. Both of these stocks are widely held, usually reliable leaders in bull markets and vice-versa, and…


As a Follow up to My last Article on China: China FDI Drops 1% vs. Expected +5%

by John Galt June 12, 2016 19:20 ET As a follow up to my last article, the news out of China this morning was not good. In fact it validates the concerns foreign investors have about the viability of keeping money parked inside the communist behemoth where risk is defined not by markets but government whims. Foreign Direct Investment in China dropped 1% instead of rising the predicted 5% that economists expected. These highlights from the release along with the chart from ForexLive tells the tale of woe: +6.0% prev Yuan…


China Drops a Silent Economic Bomb: Hints at Bankruptcy Rules for Financial Sector

by John Galt June 12, 2016 17:55 ET The one thing that foreign investors had always been able to count on with the People’s Bank of China (PBOC) and the Communist Party of China was that no matter how bad the conditions in their financial sector may get, the government and PBOC will always find away to restructure the debts or ensure the continued operation of the entities to avoid an outright default. Sunday, during the Lujiazui Forum in Shanghai, that theory was turned on its head. From the South China…


Dear Trumptards: Your Candidate Believes in Global Warming

by John Galt June 8, 2016 21:50 ET Forever and ever since Trumptardism infected our land, I’ve been beaten up for attacking Donald Trump and his band of merry Trumptards for accusing him of being nothing more than a liberal sycophant in drag who will do whatever “feels” good to him to get higher TV ratings instead of arguing for AMERICAN CONSTITUTIONAL principles. Of course they all say “what he did in the past doesnt’ matter” per their view, until it does. His recent asininity is a perfect reflection of this…


06.08 21:10 ET BREAKING: Bank of Korea Cuts Key Interest Rate to 1.25% in Surprise Move

by John Galt June 8, 2016 21:10 ET In the ever perpetual currency war and race to zero, the Bank of Korea surprised markets tonight with a cut in their key overnight rate to 1.25% from 1.50% after experts and analysts saw no cut forthcoming. This is the first move for the Korean Central Bank since June 2015 and needless to say the Korean Won moved quickly against the USD by 0.7% but shortly after pared the move to half of its intended consequences:


Saudi Aramco Blunders Again by Raising Oil Prices to Asia During a Bear Market

by John Galt June 5, 2016 10:40 ET The national oil company of Saudi Arabia, ARAMCO, announced today that they will be raising oil prices to Asian customers due to “robust demand.” In reality, this move flies into the face of reality and logic as the bounce in oil prices at this time is nothing more than a dead cat rebound in the midst of an over-supplied global bear market rout. Or did the Saudis just decide to ignore this picture and act for different reasons? Thus the story from Bloomberg…


Swiss Voters Overwhelmingly Reject Universal Basic Income Proposal

by John Galt June 5, 2016 08:10 ET In what will become the debate for all Western societies in the next ten years, Switzerland became the first nation to tackle the concept of the Universal Basic Income (UBI) in the current era. The thinking behind this idea is that technological advances and for capitalism to survive with a ‘human’ approach to dealing with citizens unable to cope with the modern requirements for employment will require taxation and redistribution of wealth to enable those at the lower rungs of society to survive…


Big Mouth Causes Big Economic Pain: Bookings at Trump Hotels Plummet

by John Galt June 4, 2016 09:00 ET I listed to a brief mention of this story on the radio and meant to mention it then, but things happen when one has to work for a living and can not sit at home on welfare smoking pot while typing “Feel the Bern” comments all over the net. Priceonomics, a data tracking and reporting website, did a quick survey and wow, their story really tells the tale of woe hitting the Trump empire in retaliation for all the stupid comments that vile…


Greece Reminds Us: The PIIGS Crisis Is Not Dead

by John Galt June 2, 2016 20:45 ET While America slumbers in its own porkfest of Federal Reserve provided phony money, the European Union is attempting in a very desperate manner to bury the pork vampire from hell formerly known as the “PIIGS.” Unfortunately for Brussels, this fat little piggy just will not die. From the Greek newspaper, Ekathimerini: Greek bond yields climb Greek government bond yields rose on Thursday after the European Central Bank said it would take no decision on whether to reinstate a cheap funding lifeline to Athens…


It’s Not 2008, Don’t Worry, It’s Fine!

by John Galt June 1, 2016 21:30 ET The stock market is possibly poised to break out to new highs, just like it threatened to do in 2007. As the rest of the economy was in shambles, the hucksters in financial media and so-called stock advisors made a cottage industry on selling to willing pension funds, speculators, and individual investors the stocks of the very corporations and banks that they knew were already technically insolvent. Then came the Obama administration after the crash and he was presented with a deal by…


Didn’t Sell in May? Perhaps you Should Have

by John Galt May 31, 2016 05:00 ET As the “sell in May and go away” meme is now officially dead thanks to a Fed pump, dump, and hump the market back towards new highs on low volume, one must ask if the smart money knew what they were doing as they sold into every major rally to rid their portfolios of large blocks of stocks that are not participating in this so-called economic miracle rally promoted by the financial media. Two things however stood out to this blogger in May…


Saudi Arabia – Iran Feud Heats Up: Iranian Pilgrims to miss Hajj, Blames Saudi Arabia

by John Galt May 29, 2016 21:45 ET Just like two drunken camels fighting at a Bedouin discotheque, the relative peace in the Iran-Saudi economic and military conflict could not be counted on to remain silent for too long. As the Saudi proxy army ISIS is facing the possibility of massive defeats in Iraq and Syria, now Iran is accusing the Saudi regime of “blocking the path to Allah” and forbidding its pilgrims from making the sacred journey known as the Hajj. From Zee News in India today: Iran says to…


05.23 Final Austrian Election Results: Austria Veers HARD Left to Green Party Candidate

by John Galt May 23, 2016 20:20 ET In what could only be called the even more Marxist equivalent of Bernie Sanders, Alexander Van der Bellen the candidate supported by the Green Party, won the final tally in the Austrian Presidential elections today. Even though it was only by about 31,000 votes it is a clear indication that the globalist efforts undertaken by the European Central Bank and associated politicians who wish to keep their grip on power over the continent was indeed a success. With Austria shifting hard to the…



Now you Can Electrocute Yourself with a Shock if you Spend Too Much (VIDEO)

by John Galt May 22, 2016 22:00 ET Thankfully the foolish ideas of personal responsibility and budgeting are no longer pertinent. Now the future has arrived now with a device which allows the individual to get electrocuted, er, shocked like a dog that strays too far when he or she spends too much money. The weird thing is, I do remember a way to control this before the cashless society and mega credit card issuance as people had real ‘cash’ which when one ran out of actual physical cash, the spending…


05.22 BREAKING NEWS: Cyprus Shifts Right in Parliamentary Elections

by John Galt May 22, 2016 19:30 ET As discussed earlier in the posting about the Austrian elections, it would appear that Cyprus has also started to divorce itself slightly from the love affair with Brussels and the European Union globalist cabal. From Reuters: Cyprus parliamentary vote puts far-right in parliament From the link above: Cyprus’s ruling conservatives took the lead in Sunday’s general election, results showed, while a far-right party won its first seats in the legislature amid voter disillusionment after a 2013 financial meltdown. With the voting tally at…


Ten Jobs You Won’t See in 10 Years

by John Galt May 15, 2016 21:15 ET 1. Newspapers: Delivery Person and Distributors Within ten years, the newspaper machine will disappear as will the person who loads them or tramples on your front yard as they throw that rolled up rag at your front door. Why you might ask? Print media is dying, rapidly thanks to the internet and customized information delivery systems which bypass the old media, Facebook, and other current providers. Recently in my area of Florida, the St. Petersburg Times purchased the Tampa Tribune to put them…


Today was a Tranny Kind of Day in the News

by John Galt May 12, 2016 18:20 ET I can not make all the bullshit that was in the news today: Caitlyn Jenner Experienced ‘Sex Change Regret,’ Might De-Transition, Biographer Says After all the idiocy, really? She/he/it (Sheit for short) might get the titties and ass implants removed? From the article above published by TheWrap: Ian Halperin, the author of “Kardashian Dynasty: The Controversial Rise of America’s Royal Family,” said that, while researching his book, multiple sources told him that the former Olympian had been miserable for months and has considered…


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