Dateline: July 5, 2018

The notion that the corporations are going to use their windfalls for productive expansion and higher wages for workers is utter fantasy.

They have not done so for over twenty years, and they are hardly urged to change that, and certainly not by anything in this latest change in tax policy. Its purpose is to put more money in the pockets of the powerful and fortunate, pure and simple.

Increased taxes on consumption and consumables, including imports and sales taxes, are generally regressive taxes, falling most heavily as a percentage of income on the broader public.

The promises of great growth, investment, and trickle down prosperity are the same old canards and misdirection, put forward by the moneyed interests’ flim flam men and their carnies. ~ Jesse


What Is Trump Doing About Crumbling US Infrastructure
Other than shouting about building a wall on the U.S.-Mexico border, one of Donald Trump’s most frequently proclaimed promises on the 2016 campaign trail was the launching of a half-trillion-dollar plan to repair America’s crumbling infrastructure (employing large numbers of workers in the process). Eighteen months into his administration, no credible proposal for anything near that scale has been made… (Continue to full article)

America’s Lateral Move From Monarchy To Corporate Rule
America is a corporatist oligarchy dressed in drag doing a bad impression of a bipartisan democracy. Sometimes it doesn’t even keep its wig on… (Continue to full article)

Anxiety Driven Markets Churning At Fastest Since 2008
From junk bonds to emerging-market stocks, market turnover is through the roof, reaching multi-year highs. Within the S&P 500 Index, investors traded more than $2.9 trillion worth of shares in each of the past two quarters, a feat last achieved in early 2008… (Continue to full article)

Treasury Curve Collapses To 35 bps
The US Treasury yield curve is slowly headed towards inversion (10Y-2Y slope declines below 0 basis points), It won’t be an easy ride going forward… (Continue to full article)

“Gold, Mr. Bond.”

The Fading American Dream: They Shoot Horses Don’t They?
Shrinking life chances plus lack of a social safety net may have left middle-aged Americans more vulnerable to suicide than peers in other rich nations… (Continue to full article)

Warnings Grow About Next Stock Market Crash
Here’s the thing about stock market bubbles: they can last far longer than even expert analysis suggests they should. But correctly defining a stock market as an unsustainable bubble is still a worthy exercise since it clarifies how much one stands to lose when the bubble does eventually pop… (Continue to full article)

We Are Witnessing Unusual Stock Market Behavior That Is Unlike Anything That We Have Seen Since 2008
We have not seen Wall Street this jumpy since just before the great financial crisis of 2008. As I have explained so many times before, when the waters are calm and there is low volatility, markets tend to go up. And when the waters are choppy and volatility starts to spike, markets tend to go down. That is why the behavior that we have been witnessing from investors during the first two quarters of 2018 is so alarming … (Continue to full article)

MEDICAL: Pfizer Has Raised Prices on 100 of Its Products
Weeks after President Trump said that drug makers were about to implement “voluntary massive drops in prices” — reductions that have yet to materialize — Pfizer has raised prices on 100 of its… (Continue to full article)

Gold In July: The Time To Buy
Charts don’t make fundamentals, but fundamentals do make charts. That’s because market fundamentals create liquidity flows. Those liquidity flows create technical action on the charts. This is the important daily gold chart… (Continue to full article)

Gold Buying Bounces on 18-Month Price Drop
GOLD BUYING among private investors rallied in June as prices fell hardest in over 18 months… (Continue to full article)

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Things Are Lining Up Nicely For Gold And Silver
In this market a bullish reading is when speculators are short and commercial traders are mostly long. As you can see, they’re not there yet but are moving that way fast. So we’re approaching a point where the market structure for both gold and silver point towards at least a few strong months… (Continue to full article)

Cryptos Are Dying: Over 800 Digital Coins Are No More
As bitcoin was blowing up last year, hitting an all-time high of nearly $20,000 in December, so were the initial coin offerings (ICOs), which are similar to initial public offerings (IPOs) in a sense that they let investors purchase new digital tokens like shares in order to fund the tech company behind their creation. Last week, Bitcoin reached a low of 70% off it’s high – down to $6,000… (Continue to full article)


Gold Is Better Store of Value Than Bitcoin
Since the birth of bitcoin there has been one question that has repeatedly grabbed headlines and led debates all over the world – will bitcoin replace gold? The latest to weigh in on this question is Goldman Sachs which, in a research note entitled ‘Fear and Wealth’, has concluded that gold is better than bitcoin… (Continue to full article)

The REAL ‘Estate Bubble‘ and how it came to POP!!!
From our archives of 2010. Is it “coming around again“??? (Continue to full article)

Life, Liberty & All That Jazz with Jeffrey Bennett can be heard 1:00 p.m. (Eastern Time) for TWO-HOURS, each Tuesday through Friday on The Micro Effect.

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