Analysts cut EPS estimates for S&P 500 companies by an average of 7.8 percent during the first quarter, the largest such decline since the financial crisis. Energy sector earnings were cut the most. Fed Chair Janet Yellen’s reaction? Whaaaat??
So much for the 20 percent down payment meme. 2/3rds of first-time home buyers us 0-6 percent down payment mortgages. And so much for the meme that first-time home buyers have vanished. Fist-time homebuyers account for 29 percent of all purchases.
the quintessential global capitalists were preparing to blow up the global capitalist system in an orgy of “accounting control fraud” at the time he wrote his “Defense.”
And so, from the dormant volcano that is American politics, out flies Hillary, like Rodan the Flying Reptile pretending to be Granny Goose. Now that she is officially flapping around the electorate, the excitable mainstream press reports the initial caw-caw-cawing …
Couple of interesting graphs on the Greek crisis via @FGoriaFirst, the ECB supports vs ELA for Greek banks: Notable trend above is for support switching. At the rise of first round of Greek crisis (post PSI), ECB funding was displaced by the …
In the negative-yield environment, the victims of Central Banks’ activism are numerous.
Eight of the nine classes are hidebound by backward-looking conventions, neofeudal and neocolonial arrangements and a spectrum of perverse incentives and false choices.
“The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.” ― Alexis de Tocqueville
Stocks ended last week back near all-time highs after a string of more bad economic news. At this point in an aging bull market,that’s like saying stupid is smart, black is white, or Hilary Clinton has not been running for President since stepping down as Secretary of State.
Recently, I have highlighted couple of signs of emerging weaknesses in the U.S. economy relative to the positive news momentum in the euro area.