Tag Archives: History Repeating

Greek stocks plunge, banks hammered, after five-week crisis shut down

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“Greece’s stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears that the country was about to be dumped from the euro zone.  Bank shares plummeted 30 percent before loss limits kicked in to stop investors selling any more. The main Athens stock index ended down 16.2 percent, recovering slightly after plunging nearly 23 percent at the open.  It was the worst daily performance since at least 1985 when modern records began, including a 15 percent fall when Wall Street crashed in 1987.  Furniture maker Dromeas SA gained almost 29 percent after clinching a 30 million-euro deal to supply European Commission offices.”

http://www.reuters.com/article/2015/08/03/us-eurozone-greece-stockmarket-idUSKCN0Q807720150803

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The Man Who Almost Stopped Julius Caesar

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“Cato was just five years of age when Rome went to war with its former allies in the Italian peninsula — the so-called ‘Social War.’ Though the conflict lasted just two years, its deleterious effects were huge. The decades to follow would be marked by the rise of factions and conflict and local armies loyal to their commanders instead of the larger society. A ‘welfare-warfare’ state was putting down deep roots as Cato grew up. The limited government, personal responsibility and extensive civil society so critical to the republic’s previous success were in an agonizing, century-long process of collapse. Even many of those who recognized the decay around them nonetheless drank the Kool-Aid.”

http://fee.org/freeman/detail/the-man-who-almost-stopped-julius-caesar

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Realism versus Nonintervention

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“In both British and U.S. experience we can see much institutional feedback from overseas empire: transfer of policing models and bureaucratic management techniques, and their cumulative effects on domestic civil liberties. Meanwhile, for domestic reasons, Americans long since encumbered themselves with standing armies of police, which are rapidly adopting military and imperial mentalities and practices directly from U.S. overseas adventures.  Realists and neo-Realists would have us believe that it is actually impossible for a great power to renounce empire. There are indeed few precedents. Most imperial powers learn the hard way.”

http://fff.org/explore-freedom/article/realism-versus-nonintervention/

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Crisis and Opportunities: An Elliott Wave Overview of the Markets

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“Big market moves create sizable risks and potential rewards. Come hear what Elliott Wave International thinks about the markets for the remainder of the year and beyond.”

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House Flippers Are Back Together With Wall St.

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“Bridge loans, also known as hard-money or asset-based loans, give flippers cash for home purchases and construction with about a year to repay, and are backed by the real estate. Blackstone, the world’s biggest alternative-asset manager, is seeking to make $1 billion of the loans a year, according to Nick Gould, executive chairman of the firm’s B2R Finance unit.  Home flippers are benefiting from rising prices, limited new construction and a shortage of inventory on the market. While quick resales have decreased from the start of the housing market’s rebound, when investors snapped up discounted distressed homes, profits are getting bigger.”

http://www.bloomberg.com/news/articles/2015-05-08/hard-money-comes-easy-as-wall-street-funds-home-flippers

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U.S. Home Prices at Record High, Surpasses 2006 Market Peak

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“According to the National Association of Realtors, existing-home sales in the U.S. increased in June 2015 to their highest pace in over eight years, while the cumulative effect of rising demand and limited supply helped push the national median sales price to an all-time high. All major regions experienced sales gains in June and have now risen above year-over-year levels for six consecutive months.  The percent share of first-time buyers fell to 30 percent in June from 32 percent in May, but remained at or above 30 percent for the fourth consecutive month. A year ago, first-time buyers represented 28 percent of all buyers.”

http://www.worldpropertyjournal.com/real-estate-news/united-states/june-2015-existing-home-sales-record-home-prices-median-home-price-in-us-lawrence-yun-nar-rising-home-prices-real-estate-sales-data-2015-9241.php

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A Serious Red Flag

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“This pattern of new highs in stocks coupled with new lows in bonds has happened during 48 sessions in the past year. The chart above shows such divergences in blocks since 1987. As you can see, the only time frame that was anywhere near the current abundance of divergences was 1999-2000. Back then, the total first reached the current level of 48 in July 1999. The S&P 500 dropped more than 13% over the next several months, but the bull market didn’t end for more than a year later. Other such spikes in the divergences came just before the crash of 1987 and before a very rocky phase of the market in 1991.”

http://www.moneyandmarkets.com/serious-red-flag-72487

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Argentine small businesses turning to bitcoin

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“The prolonged use of capital controls in Argentina since 2011 has wreaked havoc for businesses operating in South America’s second-largest economy.  Under the leftist government of President Cristina Fernández, no immediate change is expected in Argentina’s complicated economic conditions, which have seen the use of bitcoin more than double over the past year, mainly among small businesses.  Recent raids on currency trading houses and new powers for the national spy agency to prevent speculative attacks pushed the peso’s black market value this week to its lowest levels since Argentina defaulted last year on its foreign debt for the second time this century.”

http://www.ft.com/intl/cms/s/0/b2a8cca4-2c11-11e5-8613-e7aedbb7bdb7.html#axzz3h7Y4tmqB

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Stop CISA, Broad “Cybersecurity” Surveillance Legislation

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“How do you kill a zombie bill like CISA? Grassroots action. That’s why EFF and over a dozen other groups are asking you to join us in a Week of Action to Stop CISA.  The Senate is likely to vote on the Cybersecurity Information Sharing Act (CISA) in the coming weeks, and only you can help us stop it.  CISA is fundamentally flawed because of its broad immunity clauses for companies, vague definitions, and aggressive spying powers. Combined, they make the bill a surveillance bill in disguise. The bill may even make things worse for Internet users in several ways. That’s why we’re launching a week of action to make sure Congress is getting the message loud and clear:  CISA must not pass.”

https://www.eff.org/deeplinks/2015/07/stop-cisa-join-eff-week-action-opposing-cyber-spying-0

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John Hussman: Memorize This, Earn a Dollar

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“This is no time to be on autopilot. Look at the data, and you’ll realize that our present concerns are not hyperbole or exaggeration. We simply have not observed the market conditions we observe today except in a handful of instances in market history, and they have typically ended quite badly. In my view, this is one of the most important moments in a generation to examine all of your risk exposures, the extent to which you believe historical evidence is informative, your tolerance for loss, your comfort or discomfort with missing out on potential rallies even in a wickedly overvalued market, and your true investment horizon.”

http://www.hussmanfunds.com/wmc/wmc150727.htm

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