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Image | Living On Borrowed Time
Living On Borrowed Time
by Adam Taggart

A full decade and some $14 Trillion in newly-printed money later, plus the cheapest interest rates in recorded history, and yet the central banks have not been able to restore growth to the global economy. The experiment has failed.

What good is Dow 30,000 if 75% of us can’t afford a house or scrape together $400 in an emergency?

Living On Borrowed Time
 by Adam Taggart

A full decade and some $14 Trillion in newly-printed money later, plus the cheapest interest rates in recorded history, and yet the central banks have not been able to restore growth to the global economy. The experiment has failed.

What good is Dow 30,000 if 75% of us can’t afford a house or scrape together $400 in an emergency?

Image | At The End Of The Day, It’s All About Confidence
At The End Of The Day, It’s All About Confidence
by Adam Taggart

We’ve been shining a bright light on the technical compression seen in the major stock indices, indicative that a major breakout move is coming — one we’ve argued is much more likely to happen to the downside.

Well, with the recent fizzling of the principal storyline supporting the bullish narrative — an imminent trade deal with China  — our predicted downside breakdown finally occurred this week.
At The End Of The Day, It’s All About Confidence
 by Adam Taggart

We’ve been shining a bright light on the technical compression seen in the major stock indices, indicative that a major breakout move is coming — one we’ve argued is much more likely to happen to the downside.

Well, with the recent fizzling of the principal storyline supporting the bullish narrative — an imminent trade deal with China  — our predicted downside breakdown finally occurred this week.
Image | Michael Pento: The Coming Bond Bubble Collapse
Michael Pento: The Coming Bond Bubble Collapse
by Adam Taggart

In this week's podcast, Michael Pento, fund manager and author of The Coming Bond Bubble Collapse, explains how the United States is fast approaching the end stage of the biggest asset bubble in history. He describes how the bursting of this bubble will cause a massive interest rate shock that will send the US consumer economy and the US government—pumped up by massive Treasury debt—into bankruptcy, an event that will send shockwaves throughout the global economy:

Michael Pento: The Coming Bond Bubble Collapse
 by Adam Taggart

In this week's podcast, Michael Pento, fund manager and author of The Coming Bond Bubble Collapse, explains how the United States is fast approaching the end stage of the biggest asset bubble in history. He describes how the bursting of this bubble will cause a massive interest rate shock that will send the US consumer economy and the US government—pumped up by massive Treasury debt—into bankruptcy, an event that will send shockwaves throughout the global economy:

Image | Off The Cuff: Will She, Or Won’t She?
Off The Cuff: Will She, Or Won’t She?
 PREVIEW
by Adam Taggart

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:

  • The Sins Of The Past
    • We are approaching 2007 levels of instability
  • Credit Spread Warnings
    • Rising spreads are bad news for bonds
  • Slowing GDP
    • Weakness reigns in the face of the next Fed hike
  • Will She Or Won't She?
    • All eyes this week on Janet Yellen

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.

Off The Cuff: Will She, Or Won’t She?
 PREVIEW by Adam Taggart

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:

  • The Sins Of The Past
    • We are approaching 2007 levels of instability
  • Credit Spread Warnings
    • Rising spreads are bad news for bonds
  • Slowing GDP
    • Weakness reigns in the face of the next Fed hike
  • Will She Or Won't She?
    • All eyes this week on Janet Yellen

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.

Image | Time To Review
Time To Review
 PREVIEW
by Chris Martenson

Back in August things were falling apart.  Macro-economic indicators were steadily worsening, corporate profits and revenues were suddenly falling, and US unemployment came in far worse than expected.

Of course in today's bizzarro logic, that meant only one thing:  the equity “”markets”” were going to be bid up, and gold was going to be held in check.

Both have not only come to pass, but have done so in spectacular fashion.
Time To Review
 PREVIEW by Chris Martenson

Back in August things were falling apart.  Macro-economic indicators were steadily worsening, corporate profits and revenues were suddenly falling, and US unemployment came in far worse than expected.

Of course in today's bizzarro logic, that meant only one thing:  the equity “”markets”” were going to be bid up, and gold was going to be held in check.

Both have not only come to pass, but have done so in spectacular fashion.
Image | Investing In The Age Of Anomalies
Investing In The Age Of Anomalies
 PREVIEW
by Brian Pretti

Executive Summary

  • Will global capital continue to push US stocks higher, despite their stretched valuations?
  • Global capital is becoming more cautious
  • S&P outperforming as capital seeks the safety of "blue chip" companies
  • Investing in the age of anomalies

If you have not yet read Part 1: Time To Toss The Playbook available free to all readers, please click here to read it first.

This leads us to equities and, again, this very important concept of being flexible in thinking and behavior. Historically, valuation metrics have been very important in stock investing. Not just levels of earnings and cash flow growth, but the “multiple” of earnings and cash flow growth investors have been willing to pay to own individual stocks. This has been expressed in valuation metrics such as price-to-earnings, price relative to book value, cash flow, etc. To the point, in the current market environment, common stock valuation metrics are stretched relative to historical context.

In the past we have looked at indicators like total stock market capitalization relative to GDP. The market capitalization of a stock is nothing more than its shares outstanding multiplied by its current price. The indicator essentially shows us the value of stock market assets relative to the real economy. Warren Buffet has called this his favorite stock market indicator.

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The message is clear. By this valuation metric, only the…

Investing In The Age Of Anomalies
 PREVIEW by Brian Pretti

Executive Summary

  • Will global capital continue to push US stocks higher, despite their stretched valuations?
  • Global capital is becoming more cautious
  • S&P outperforming as capital seeks the safety of "blue chip" companies
  • Investing in the age of anomalies

If you have not yet read Part 1: Time To Toss The Playbook available free to all readers, please click here to read it first.

This leads us to equities and, again, this very important concept of being flexible in thinking and behavior. Historically, valuation metrics have been very important in stock investing. Not just levels of earnings and cash flow growth, but the “multiple” of earnings and cash flow growth investors have been willing to pay to own individual stocks. This has been expressed in valuation metrics such as price-to-earnings, price relative to book value, cash flow, etc. To the point, in the current market environment, common stock valuation metrics are stretched relative to historical context.

In the past we have looked at indicators like total stock market capitalization relative to GDP. The market capitalization of a stock is nothing more than its shares outstanding multiplied by its current price. The indicator essentially shows us the value of stock market assets relative to the real economy. Warren Buffet has called this his favorite stock market indicator.

src=

The message is clear. By this valuation metric, only the…

Image | On the Path To War
On the Path To War
by Chris Martenson

The US is clearly now pushing Russia towards war. But if you read the signs correctly, Russia has been preparing for exactly this outcome for many years.

Out of several reasons that US power brokers specifically — but western power brokers more generally — are deeply unhappy with Russia right now is that Russia is committing a cardinal sin: it is openly, brazenly calling for an end to dollar dominance and has moved aggressively with China to achieve that aim.
On the Path To War
 by Chris Martenson

The US is clearly now pushing Russia towards war. But if you read the signs correctly, Russia has been preparing for exactly this outcome for many years.

Out of several reasons that US power brokers specifically — but western power brokers more generally — are deeply unhappy with Russia right now is that Russia is committing a cardinal sin: it is openly, brazenly calling for an end to dollar dominance and has moved aggressively with China to achieve that aim.
Image | New Harbor: Now is the Time for Discipline in Protecting Wealth
New Harbor: Now is the Time for Discipline in Protecting Wealth
by Adam Taggart

The stock market has been on an upward streak for the past two years, with the Dow and S&P near their all-time highs. Recently, though, they've shown signs of toppiness. And certainly, the macroeconomic risks loom larger than ever. Where are equity prices most likely to go from here?

Interest rates on bonds have nearly doubled off of their historic lows from a year ago. That puts downward pressure on bond market prices, as well as a tremendous number of other important asset classes, like housing. Where are interest rates most likely to move next?

For these (and other) reasons, the current environment is extremely challenging for investors.
New Harbor: Now is the Time for Discipline in Protecting Wealth
 by Adam Taggart

The stock market has been on an upward streak for the past two years, with the Dow and S&P near their all-time highs. Recently, though, they've shown signs of toppiness. And certainly, the macroeconomic risks loom larger than ever. Where are equity prices most likely to go from here?

Interest rates on bonds have nearly doubled off of their historic lows from a year ago. That puts downward pressure on bond market prices, as well as a tremendous number of other important asset classes, like housing. Where are interest rates most likely to move next?

For these (and other) reasons, the current environment is extremely challenging for investors.
Image | Off the Cuff: Baffling with B(L)S
Off the Cuff: Baffling with B(L)S
 PREVIEW
by Adam Taggart

In this week's Off the Cuff podcast, Chris and Charles discuss:

  • BLS B.S.
    • Almost a century of GDP numbers revised
  • Fed Fakeout
    • Markets rise on non-news from the Fed
  • The Next Fed Head
    • What the Chairmanship transition likely will bring
  • The Coming Correction
    • Smart ways to position in advance
Off the Cuff: Baffling with B(L)S
 PREVIEW by Adam Taggart

In this week's Off the Cuff podcast, Chris and Charles discuss:

  • BLS B.S.
    • Almost a century of GDP numbers revised
  • Fed Fakeout
    • Markets rise on non-news from the Fed
  • The Next Fed Head
    • What the Chairmanship transition likely will bring
  • The Coming Correction
    • Smart ways to position in advance
Image | Off the Cuff: The Age of Delusion
Off the Cuff: The Age of Delusion
 PREVIEW
by Adam Taggart

In this week's Off the Cuff podcast, Chris and Mish discuss:

  • Fuzzy Fed Math
    • Housing-cost methodology understates true inflation
  • China's Gold Hunger
    • Vacuuming up 50% of total world production
  • Market Madness
    • Any news – good, bad, or worse – drives stock prices higher
Off the Cuff: The Age of Delusion
 PREVIEW by Adam Taggart

In this week's Off the Cuff podcast, Chris and Mish discuss:

  • Fuzzy Fed Math
    • Housing-cost methodology understates true inflation
  • China's Gold Hunger
    • Vacuuming up 50% of total world production
  • Market Madness
    • Any news – good, bad, or worse – drives stock prices higher
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 "It's About Control": An Interview with David Icke
Just got my result that I’m C19 positive.
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