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Want to fight the bailout? Check in with Mish.
Not all libertarians are as cynical* as I am. Like giving money to Ron Paul’s campaign (which I did, because it was always about the message, not winning), fighting the bailout may be futile in the...
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That was quick: Bailout deal coming together.
We have another rumor and another rally (which we were due for today anyway). I’m scared of what happens after this thing becomes news. The rumor is the head congresscritters are saying they think they...
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Did Congress really cause the stock market to fall?
Consider that the market dropped about 2.5% at the open, before the vote was on the floor, and that Europe had been trading down 4% before Wall Street even had breakfast. Stocks around the world were...
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Ron Paul sums up the crisis in 3 minutes
(thanks again to zerohedge for finding this video) I remember when I first discovered a speech by Ron Paul back in boom-time 2005, and was shocked that a Congressman was so eloquently warning of the...
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Congressman says debt = wealth, threatens to defenestrate reporter
Here’s a little glimpse into the attitude of our elected representatives. In this video from the Clinton years, Congressman Pete Stark of California gets increasingly agitated, condescending and rude...
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Ron Paul: Return to 2004 budget would eliminate deficit right now.
From his Texas Straight Talk column on his Congressional site: This week marks the deadline for the so-called congressional Super Committee to meet its goal of cutting a laughably small amount of...
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Ignore all this supercommittee talk
Today’s ad-hoc explanation of market action seems to be the failure of the US Congress’ “supercommittee” to come up with a deal to slightly shrink the 2nd derivative of budget growth over 10 years....
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Chart: Secular Bear Markets Since 1900
Secular Bear Markets (red) since 1900. Source: Crestmont Research I like this chart, but I would change one thing: the bear that started in 1929 could extend clear through to 1948 due to inflation and...
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Hedge funds: Just say no
Hedge funds are almost never a good investment. As a class, they underperform and overcharge. Only 20% of funds beat their benchmarks in a given year, and of those, fewer than half outperform in two of...
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Bristlecone Pine trading
Hedge funds, mutual funds and active mangers underperform and overcharge, while a simple buy-and-hold strategy regularly sustains sharp losses and lengthy secular bear markets. So what’s an investor...
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Barrons Big Money Poll shows complacency & love for equities
It amazes me that the most successful managers could be so bullish at a time like this (way overvalued, way overbought, rising Treasury yields, stalled earnings growth), but of course stocks are most...
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What goes up must come down (coffee futures boom-to-bust).
A 9-month mania has become a relentless 2-year bear market, and prices are back where they started: From Futures.Tradingcharts.com From Indexmundi.com, here’s a longer-term view. As is typical of...
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Top developing
An overbought market that has kept the vast majority of investors and traders in the bull camp for several weeks is to be viewed with suspicion. When prices also begin to lose their upward momentum,...
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RSI declining – final warning sign
This is a very expensive and overbought market which few participants believe can decline meaningfully. That alone is dangerous, but now we see signs of technical exhaustion, such as the downtrend in...
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Daylight saving is pointless
Daylight Saving Time doesn’t save energy. It just messes up the seasonal progression of diurnal rhythms, effectively giving us jetlag. The sun was rising a few minutes earlier each week, and now...
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One more datapoint on the equity bubble
The latest Flow of Funds Report (link to pdf) shows that equities comprise a greater share of US household assets than at any point besides the height of the internet bubble. Of course, elevated prices...
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On Flash Boys, why HFT is parasitic, and why it’s over.
It’s my baseline assumption when looking at markets, financial or otherwise, that when something involves no fraud or physical coercion it’s beneficial or innocuous. When you find something damaging...
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Want to fight the bailout? Check in with Mish.
Not all libertarians are as cynical* as I am. Like giving money to Ron Paul’s campaign (which I did, because it was always about the message, not winning), fighting the bailout may be futile in the...
View ArticleClik here to view.
That was quick: Bailout deal coming together.
We have another rumor and another rally (which we were due for today anyway). I’m scared of what happens after this thing becomes news. The rumor is the head congresscritters are saying they think they...
View ArticleClik here to view.
Did Congress really cause the stock market to fall?
Consider that the market dropped about 2.5% at the open, before the vote was on the floor, and that Europe had been trading down 4% before Wall Street even had breakfast. Stocks around the world were...
View Article