Massive liquidity issues in China wealth product liquidation, commodities crashing, oil plunging, US macro data disappointments, US earnings disappointments, and Buffett dumping Big Blue - only makes sense that The Dow just had its quietest 8 days since 1952!!!
After admitting defeat on IBM earlier, Berkshire Hathaway reported Q1 operating earnings of $2,163 (against consensus expectations of $2705, and below the lowest analyst estimate).
The stock is limping lower after hours...
This is the weakest quarterly EPS since Q2 2015...
Authored by Lance Roberts via RealInvestmentAdvice.com,
With a continuing resolution for $1 Trillion passed this week, which will fund the government for 5-whole months, there seems to be little consideration given to the disconnect between increase debt levels and slower economic growth. The chart below shows the growth of total debt as compared to GDP growth since 1966.
Authored by Ryan McMaken via The Mises Institute,
The US House of Representatives voted today to "repeal and replace" Obamacare. Unfortunately, those who use the phrase "repeal and replace" are greatly exaggerating the extent to which the Affordable Care Act is actually repealed.
While perhaps a tiny step in the right direction, the new legislation signals no departure whatsoever from the long-established trend of expanding the role of government programs in subsidizing and regulating the healthcare industry.
Authored by Kurt Cobb via OilPrice.com,
The jawboning of oil prices by the Saudi Arabian/Russian tag team should be wearing off after more than a year of actions that don't measure up to the words. Oil prices slumped recently, dropping from around $54 per barrel to just below $50 as of Friday's close.