Authored by James Rickards via The Daily Reckoning,
To paraphrase one of the great gems of Wall Street wisdom, “Nothing infuriates a man more than the sight of other people making money.”
That’s a pretty good description of what happens during the late stage of a stock market bubble.
The bubble participants are making money (at least on a mark-to-market basis) every day.
Authored by Seth Lievense via Limpidus.org,
Submitted by GoldCore
It is the 'opinion of the European Central Bank' that the deposit protection scheme is no longer necessary:
'covered deposits and claims under investor compensation schemes should be replaced by limited discretionary exemptions to be granted by the competent authority in order to retain a degree of flexibility.'
Turkish lira plunged near record low 3.9/USD this morning and bond yields spiked over 12.5% for the first time in history as investor anxiety escalated following President Erdogan's attack on the nation's central bank, decrying it's "wrong path."
Currency crisis...
And bond market panic...
The recovery in Eurozone growth has become part of the synchronised global growth narrative that most investors are relying on to deliver further gains in equities as we head into 2018. However, the “Zombification” of a chunk of the Eurozone’s corporate sector is not only a major unaddressed structural problem, but it’s getting worse, especially in…you guessed it…Italy and Spain. According to the WSJ.