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Zimbabwe President Robert Mugabe Resigns

Zimbabwe’s Speaker of Parliament Jacob Mudenda had barely finished reading the rules and regulations of how impeachment proceedings would proceed against President Robert Mugabe when the 93-year-old leader and former revolutionary surprised his colleagues by officially resigning the presidency – something he had been reluctant to do even after the military placed him under house […]


Chinese Online Lenders Are Crashing After Credit Crackdown

The ADRs of several Chinese lenders, such as recently IPO'd Qudian and Hexindai, are crashing following a report from Netease that the country has decided to halt approvals for new online microlenders, citing risky cash-loan businesses at some firms. Bloomberg reports that the Netease report raised concern that the lenders, some of which just recently listed in […]


What If The “Exuberance” Is “Irrational”? Then Hold On To Your Hats…

As discussed earlier, Goldman’s entire S&P500 price forecast for 2018 and the next three years is based on two things: tax reform passing, but more broadly, something that David Kostin dubbed “Rational Exuberance”, to wit: “Rational exuberance” best describes our forecast for the trajectory of the S&P 500 during the next several years. Earnings drive […]


What We Can Expect For Gold Prices in the Wake of the Hurricane Season

The recent spate of back-to-back hurricanes in the US is expected to compound the economic damage of an already over-extended debt. As the stock market braces for a correction, traders are inclined to sell out of riskier stock markets and take refuge in safe havens like gold. Although it will take months for the impact […]


Small Cap Stocks: Time To Get Your Rally Caps On?

Small cap stocks tend to offer a bit more risk and reward. That equates to higher beta, which in turn tends to mean stronger returns when the broader market is healthy and weaker returns when the broader market is in the doldrums. So where are we now?  Likely at an important juncture. Small cap stocks […]


“Foundation For A Rebound?” – Gold Jumps Above Key Technical Level On Heavy Volume

The last 3 days have been 'nosiy' in precious metals markets with gold swinging from the best day in 5 months to the worst day in 4 months and now to another high volume surge, breaking the barbarous relic back its 100-day moving-average… It sems the 100DMA is a key level with heavy volume being […]


Existing Home Sales Drop Year-Over-Year For 2nd Straight Month – First Time Since 2014

Following September's positive housing data rebound, October data is starting well with existing home sales surging 2.0% MoM (better than expected 0.2%) to 5.48mm SAAR, as US existing home sales inventory tumbled 10.4% YoY, to 1.8 months, the lowest since 1999. Sales of previously owned U.S. homes rose to a four-month high, indicating demand was […]


Peso, Loonie Spike On Positive NAFTA News

With NAFTA negotiations currently taking place, and NAFTA currencies very sensitive to every headline, both the Peso and Loonie suddenly spiked on a Bloomberg headline that suggests that talks just may be progessing in a favorable fashion: NAFTA DEAL NEAR ON TELECOM, ENERGY, E-COMMERCE:MEX BUSINESS REP Some additional color from Bloomberg: Mexico sees the nations […]


“It’s A Designed Cover-Up” – Powerful Democratic Congressman John Conyers Sexually Harassed Staffers

Last week, we reported how Congress’s Office of Compliance paid out $17 million for 264 settlements with federal employees over 20 years for various violations, including sexual harassment – information that was brought to light by California Rep. Jackie Speiers, who claimed that two men with a history of sexual harassment continued to serve in […]


Goldman Bets On “Rational Exuberance”: Unveils Its S&P Price Targets, Sees Bull Market Lasting Until 2020

Just days after Barclays released its 2018 equity outlook with the title “Rational Exuberance”… … Goldman’s David Kostin decided that imitation is the sincerest form of flattery and in presenting his S&P price target* for 2018 (and 2019 and 2020), and has named his preview report the same: We footnoted price target, because once again […]


Yield Curve Carnage Continues

The US Treasury yield curve collapse continued its unending path to inversion overnight with 2s10s plunging to sub-60bps and 5s30s hits a 65bps handle for the first time since Nov 2007.   2s10s has flattened for 3 days straight, 6 of the last 7 days, and 14 of the last 17 days to a 58bps […]


Our National Madness

Authored by Charles Hugh Smith vis OfTwoMinds blog, Fakery and trickery are not solutions; they are a form of self-delusional madness that destroys the nation's ability to face reality squarely and choose real solutions, no matter how painful the choice and path might be. The nation has lost its common sense, its soul and its […]


Tencent Overtakes Facebook As Hong Kong Stocks Flash-Smash Overnight

Hang Seng futures exploded over 5% higher as after hours trading began last night, then crashed back to unchanged as the underlying cash index hit its highest since Nov 2007 on the heels of a surge to new record highs for Chinese tech giant Tencent – which is now larger than Facebook by market cap. […]


Journalist Sara Carter Slams DOJ Attempt To Discredit FBI Informant And Stonewall Uranium One Investigation

Submitted by iBankCoin.com Several weeks ago a bombshell report by John Solomon and Alison Spann of The Hill revealed that an undercover FBI informant embedded deep within the Russian nuclear industry had uncovered evidence as early as the fall of 2009 of a massive plot by Russia to corner the American Uranium market. Evidence of the scheme was […]