Authored by Lance Roberts via RealInvestmentAdvice.com,
There is an increasing amount of commentary which suggests this time is different. Active management of portfolios is no longer needed, as Central Banks continue to be supportive of the markets, so join in on the “passive indexing” sweeping the country.
Last night we showed the dramatic impact Amazon has had on the retail sector, where over $6 billion in retail debt has filed for Chapter 11 protection YTD...
... a 110% surge compared to the first half of 2016, and pointed out that there was one recurring name mentioned among 2017's bankrupt retailers listed in the chart below: brands such as Gymboree, Payless, rue 21 and the Limited all cited Amazon affect as a contributor to their downfall.
In April, the Fed's otherwise boring Beige Book revealed a striking anecdote about the current state of the US labor market: as the Boston Fed commented at the time, the qualified labor shortage had gotten so bad, that the hit rate on hiring after a simple math and drug test, has collapsed below 50%. To wit:
Washington Pushes Harder Against Russia
Paul Craig Roberts
Some historians believe that the cause of WW2 was UK prime minister Chamberlain’s appeasement of Hitler’s recovery of German territory given to other countries via the Versailles Treaty in contravention of US President Woodrow Wilson’s promise to Germany that there would be no reparations and no loss of territory if Germany agreed to an armistance ending WW1.
Chris Whalen, Chairman of Whalen Global Advisers and a very well-known financial analyst (he was one of the original forecasters of Lehman's inevitable demise) appeared on MacroVoices podcast this week to discuss the equity valuations, the path of the US dollar and DoubleLine Capital founder Jeff Gundlach’s declaration that the 35-year bull market in bonds is dead. Some of the key highlights: