Amid tensions over debt ceiling discussions and government shutdown concerns, Republicans continue to face the fact that passing an Obamacare 'alternative' remains highly unlikely.
Source: Townhall.com
But it appears the GOP has a cunning plan to cross that chasm. President Trump said early Sunday that ObamaCare will die "far sooner than anyone" thought if it doesn't receive federal funds to keep it going.
Excerpted from the latest weekly note from Eric Peters, CIO of One River Asset Management
Capitulation
“He was extremely intelligent, high-profile, and operated with data and models that people didn’t understand back then,” said the historian. “But nine days before the 1929 Crash, Irving Fisher abandoned his long-held bull market skepticism and said that stock prices had reached a permanently high plateau.” Irving went all in, leveraged up, and was eventually bankrupted.
By Andrew Brown, a partner for macro and strategy at ShoreVest Capital Partners
From a global macroeconomic perspective, we encourage readers to consider that the world is experiencing an extended, rolling process of deflating its credit excesses. It is now simply China’s turn.
“Thousands of new doors opened and rents soared. This created a bubble, and like housing, that bubble has now burst.”
- Richard Hayne, Urban Outfitters CEO, March 2017
The devastation in the US retail sector is accelerating in 2017, and in addition to the surging number of brick and mortar retail bankruptcies, it is perhaps nowhere more obvious than in the soaring number of store closures.
Authored by Raul Ilargi Meijer via The Automatic Earth blog,
You are not an investor. One can only be an investor in functioning markets. There have been no functioning markets since at least 2008, and probably much longer. That’s when central banks started purchasing financial assets, for real, which means that is also the point when price discovery died. And without price discovery no market can function.