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Dick’s CEO: “The Retail Industry Is In Panic Mode”

With Dick’s stock crashing after reporting dreadful results this morning, in which both comp sales and EPS missed as the company slashed its full year guidance below even the lowest sellside forecast (it now sees full year EPS of $2.80 to $3.00, below the previous guidance of $3.65 to $3.75 and the Wall Street estimate […]


Venezuela’s Grim Reaper – A Weekly Report

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke. The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation.  As the bolivar […]


Chain-Store Stock Carnage Continues (Despite Biggest Jump In Retail Sales Since 2016)

Oh the irony – as bulls celebrate the best jump in retail sales since 2016, the scene for retailer stocks is an utter bloodbath… Earlier today, US Retail Sales in July rebounded dramatically to a 0.6% MoM gain – the most since Dec 2016 – driven a surge in motor vehicles (record incentives) and department […]


Spitznagel: Why Cryptocurrencies Will Never Be Safe Havens

Authored by Mark Spitznagel via The Mises Institute, Every further new high in the price of Bitcoin brings ever more claims that it is destined to become the preeminent safe haven investment of the modern age — the new gold. But there’s no getting around the fact that Bitcoin is essentially a speculative investment in a […]


The Fed Issues A Warning As Household Debt Hits New All Time High

After we first reported last week that US credit card debt hit a new all time high with both student and auto loans rising to fresh records with every new report… … it won’t come as a surprise that according to the just released latest quarterly household debt and credit report by the NY Fed, […]


Silicon Valley Tightens Its Grip On Free Speech

Authored by Edmund Kozak via Lifezette.com, Alliance between progressives and tech is killing the unfettered exchange of ideas… Political totalitarianism is coming to America, and it is being ushered in not by government thugs in jackboots but by progressive activists and their allies in Silicon Valley. In a chilling oped published in The New York […]


This Is The Most Equity-Bullish Chart We’ve Seen Yet

How expensive are US equities versus their peers around the world? Compared to bonds? Commodities? Are there fundamental risks we can identify? In the following presentation, Cantillon Consulting's Sean Corrigan answers all of the above and details what opportunities for better asset allocation might lie ahead…   Howver, deep in the presentation is an intriguing […]


One Analyst Throws Up On Today’s Retail Sales Data: Here’s Why

Two weeks ago we reported that July auto sales were a disaster: recall sales for bloated with inventory GM were down 15% YoY, Ford off 7% and Chrysler down 11% – despite record incentive spending – as overall auto sales declined and disappointed for yet another month. And yet, according to this morning’s retail sales […]


Speculation Of Bannon’s Demise Floods The Media, Again

Bannon’s imminent demise has been predicted by the media on so many different occasions since Trump moved into the White House that we’ve lost count.  Not surprisingly, the media sometimes has difficultly deciphering between ‘news’ and the propagation of their own wishful thinking.  We noted a couple of the false alarms here: Bannon In Jeopardy: […]


US Dollar breakout hard on Gold, Silver and Miners!

  The US Dollar so far this year, has been very week, losing nearly 10% of its value. This decline might have influenced investors to go long the Euro. Below looks at sentiment towards the Euro, that we shared on our Twitter & Stocktwits accounts 9-days ago.   CLICK ON CHART TO ENLARGE The chart above reflects that bullish sentiment towards […]


Forget The Russians: Blame “Robot Anxiety” For Losing The Election

Authored by Mike Shedlock via MishTalk.com, Robots are taking our jobs says the Brookings Institute. This causes “Robot Anxiety“, but not everywhere, just in the Red states that swung the election to Trump. Robots, it turns out, are congregating densely in some places but are hardly found in others. Specifically, the map makes clear that […]


Crypto-Carnage – Bitcoin Is Down $500 From Overnight Highs

Cryptocurrencies are crashing this morning… After a 70% surge following the fork to a new record high at $4400, Bitcoin is getting battered this morning…   Dow $500 from overnight highs…   As a reminder, Goldman Sachs' chief technician Sheba Jafari increased her forecast for Bitcoin to over $4800… but warned that the virtual currency […]


Business Inventories-To-Sales Ratio Jumps To Highest Since Nov ’16 As Auto Inventories Spike

Once again motor vehicles dominated the rise in inventories in June (up 0.7% MoM) as retail inventories rose 0.6% MoM but sales lagged at just 0.3%. This mismatch pushed the aggregate inventory-to-sales ratio back to its highest since Nov 2016 at 1.38 months.   But it’s autos that remain near ex-crisis highs in inventories… http://WarMachines.com


Beware The Dead Cat Bounce: “Exuberant Markets Can’t Escape The Shadow Of Negatives”

Treasury yields have erased the knee-jerk losses from retail sales, Nasdaq is now tumbling, and gold is bouncing… This is not the market we saw yesterday that was relieved that the world had not ended and Bloomberg's macro strategist Mark Cudmore is worried that it's not over, warning that "exuberant markets can't escape the shadow […]


Are German Car Manufacturers Bracing For Another Collapse?

Last week, Volkswagen, the German car brand, announced it would be paying up to 10,000 EUR per (old) car (of any brand) owners would trade in for a brand-new Volkswagen in Germany. Just a few days later, Opel (previously owned by General Motors but currently owned by PSA, the French brand which also produces the […]