Tag Archives: Money For Nothing

The Billionaires Club Is Gloomy About the Stock Market

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“Some of the US’s top investment minds are certainly expecting that SOMETHING will happen to stocks in autumn. China may or may not be the proximate trigger but there is a growing billionaire’s club with bearish sentiments. Our argument regarding this cooked-up ‘Wall Street Party’ has always been that those behind it want it to run several years longer. The idea may be that when it DOES reset, the damage will be so extensive that there will be no alternative but to further internationalize the system, which has surely been the goal all along. But there is no denying the possibility of a crash this year … this autumn. The larger question is, what kind of crash?”

http://www.thedailybell.com/news-analysis/35623/The-Billionaires-Club-Is-Gloomy-About-the-Stock-Market/

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ECB Cuts Rates, Announces Stimulus to Combat Low Inflation

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“The European Central Bank surprised financial markets with a cut in interest rates and new stimulus plans, despite opposition from Germany’s powerful central bank which could raise doubts among the German public about the ECB’s easy-money policies—a sensitive issue in a country that carries the memories of hyperinflation of the 1920s.  The ECB lowered its main lending rate by 0.10 percentage point to 0.05%. It cut a separate rate on bank deposits deeper into negative territory, to -0.2% from -0.1%. The central bank also announced it will purchase covered bank bonds and bundled loans known as asset-backed securities and said further details will be released in October.”

http://online.wsj.com/articles/ecb-cuts-interest-rates-in-surprise-move-1409832304

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A Company That Performs in all Markets

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“It is no different than going to the store and seeing a pound of hamburger sitting there and paying a premium for it over what you were willing to pay at the beginning of the year. It is no more complicated than that. If you looked at 2014′s returns you will see that about half of the 10 percent return, that is 5 percent of it, has come from the fact that people are willing to pay more for stocks. So, the fact that the market has increased a whopping 42 percent over the last 18 months, most of that is due to the fact that people are just willing to pay more for stocks and that is something that can go on for a while butit cannot continue. It is not sustainable. It will not hold the stock market at its lofty levels.”

 

http://www.moneyandmarkets.com/company-performs-markets-65134

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John Hussman: Yes, This Is An Equity Bubble

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“Make no mistake – this is an equity bubble, and a highly advanced one. On the most historically reliable measures, it is easily beyond 1972 and 1987, beyond 1929 and 2007, and is now within about 15% of the 2000 extreme. The main difference between the current episode and that of 2000 is that the 2000 bubble was strikingly obvious in technology, whereas the present one is diffused across all sectors in a way that makes valuations for most stocks actually worse than in 2000. The median price/revenue ratio of S&P 500 components is already far above the 2000 level, and the average across S&P 500 components is nearly the same as in 2000.”

http://www.hussmanfunds.com/wmc/wmc140728.htm

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Continued EU Weakness Gives Rise to Two Inflationary Trends

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“China – the BRICS – and the US are printing endless gouts of money, and now it appears as if the European Union is headed in the same direction. According to economists, the ECB could cut interest rates even further while embarking on a campaign of asset-backed purchases that might include a ‘fullblown’ QE. What’s the timing of something like this? According to the article, ‘the market is clearly expecting a large-scale asset purchase programme, maybe not at the next meeting but by the end of the year.’ It would seem that even as the US is scaling back such programs, Europeans may be exposed to an aggressive variant of the same strategy.”

http://www.thedailybell.com/news-analysis/35594/Continued-EU-Weakness-Gives-Rise-to-Two-Inflationary-Trends/

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CFR: Print Money and Hand It Out Directly to Consumers

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“The idea that Foreign Affairs writers and editors believe that freely handing out currency is going to strengthen the economy and solidify good will for the current central banking system is either naïve or sinister. We arrive at the possibility of ‘sinister’ because it appears to us that the globalists have perhaps given up on arriving at a more structured and rationalized internationalism via stealth. Instead, they are apparently moving forward with the age-old tools of economic ruin and military engagement. Giving away currency would surely be another step toward destroying the modern system and setting the stage for a new one, presumably even more internationalist.”

http://www.thedailybell.com/news-analysis/35597/Shock-CFR-Suggests-That-Central-Banks-Print-Money-and-Hand-It-Out-Directly-to-Consumers/

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Bill Bonner: Here Come the Money Helicopters

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“Bypassing the banks, they will put their newly digitized money directly into the hands of the people whose votes they need to buy. This kind of flagrant money creation is becoming intellectually respectable, as a kind of final solution to the problem of insufficient demand.  Martin Wolf, the influential chief economics commentator at the Financial Times, has already suggested it publicly. Now, here comes an article in Foreign Affairs magazine titled: ‘Print Less and Transfer More: Why Central Banks Should Give Money directly to the People.’  Recognizing that QE and ZIRP are not making it to the top of the charts, the establishment is getting behind more direct inflationary measures.”

http://bonnerandpartners.com/come-money-helicopters-debt/

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Bill Bonner: The Committee to Blow Up the World

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“Typically, investors have paid from 10 to 20 times annual earnings for shares. But when they are bearish, as they were in 1982 and again in 2009, they will want to pay less than 10 times earnings. And when they are bullish, the sky’s the limit… but seldom more than 20 times.  Currently – except for China and Russia – almost all major country stock markets are closer to the top of the range than the bottom. With the S&P 500 now trading on a Shiller P/E (which looks at the average of 10 years of inflation-adjusted earnings) of 26.5.  What would make investors so bullish? And why would this bullishness extend to practically the entire globe?”

http://bonnerandpartners.com/committee-blow-world/

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BusinessWeek: The Death of Equities [1979]

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“The huge declines in U.S. stocks in recent months have revived interest in a BusinessWeek cover story from August 1979 entitled ‘The Death of Equities.’ At the time the story was written, the stock market had sustained serious losses and the long-term health of the U.S. economy was a significant concern.  Few, if any, market forecasters were willing to call a recovery at the time, and the story provides a telling look at how inflation had ravaged the market landscape—and investor psychology—at the close of the 1970s. So step back in time with us and read BW’s take on the state of the market in August 1979.”

http://www.businessweek.com/stories/1979-08-13/the-death-of-equitiesbusinessweek-business-news-stock-market-and-financial-advice

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Warren Buffett: How inflation swindles the equity investor [1977]

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“Every Sunday, Fortune publishes a favorite story from our archive. As controversy swirls around whether Fed Chair Ben Bernanke is downplaying inflation predictions, we turn back to May 1977 for timely advice from Warren Buffett. The Oracle of Omaha has clashed with Bernanke over inflation time and time again, and here Buffett warns how rising prices can hamper growth ‘not because the market falls, but in spite of the fact that the market rises.'”

http://fortune.com/2011/06/12/buffett-how-inflation-swindles-the-equity-investor-fortune-classics-1977/

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