With Republicans in Washington D.C. on the verge of passing their first major piece of legislation in the form of comprehensive tax cuts that will allow Americans across the income spectrum to keep a little more of their hard earned cash in 2018, it appears as though eager U.S. consumers may have already "pre-spent" their savings on their credit cards.
Once upon a time, the chart below would have resulted in value investors loading up on short positions, or at the very least moving money to the sidelines, while poking fun at the 'momo' crowd for once again convincing themselves that "this time is different" as they chased equities ever higher.
Alas, as Bloomberg points out this morning, this time around it seems that even the most famed value investors, including Jeremy Grantham, have decided to throw in the towel on their bearish bets.
Wall Street Gunfighter
A Serial Novel
Chapter One
Dear Friends, I apologize for dumping this on you at Christmas, a time for peace and joy. But these are the facts. We can ignore them only at our peril.
De Facto Travel Restrictions Now Exist For Americans
Paul Craig Roberts
Green Party presidential Candidate Jill Stein is being investigated by the Senate Intelligence (sic) Committee for “Russian connections.”
Authored by Lance Roberts via RealInvestmentAdvice.com,
With the passage of the Tax Cut And Jobs Act on Wednesday, I wanted to address a few of the questions and misinformation currently circulating about the impact of tax cuts on the U.S. economy.
Over the last couple of months, I have been repeatedly asked why I am not “enthusiastic” about the “greatest tax reform” since the Reagan era.