By EconMatters
We look at exorbitant P/E Ratios across the stock market where I literally can pull any stock up and find an insane p/e ratio right now, and secondly the economic data doesn`t justify a 65 basis points effective fed funds rate. Yes we are in the biggest stock market bubble of all time Janet Yellen!
Update: It appears expectations of an imminent deal may be premature, because this just hit the tape:
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In a welcome sign the latest conflict between the troubled Greece's lenders may be thawing, Reuters reports that Euro zone creditors and the International Monetary Fund have agreed between themselves to present a common stance to Greece later on Friday in talks on reforms and the fiscal path Athens must take, euro zone officials said.
Just days after troubled retailer Sears Holdings was put on (yet another) deathwatch after its stock crashed to all time lows while it CDS hit a record high, earlier this week, the short squeeze is back, with the stock surging 20% pre market, after the company announced it is planning steps to improve liquidity and financial flexibility, launching a strategic restructuring program intended to streamline operations and improve its dreadful operating performance, targeting cost cuts of at least $1 billion while repaying over a billion in outstanding pension obligations.
Gold Prices Up 5.8% YTD - Trump ‘Honeymoon’ Ends
Gold prices continued to shine this week reaching $1,244.70 per ounce and and has posted gains in five of the last six weeks. This week it reached a new three-month high - it’s highest since the Trump win and has climbed over 6% this year, beating the gains made in the same period in 2016.
One of the most important points in the new "Trump System" of doing business, is that of the US Dollar, which currently is used by world's central banks as their reserve. Also, it's used by peasants in many parts of the world including Russia - as an alternative to their domestic currency. Practically, there isn't a clear alternative to the USD for the time being, with China's economy mostly built on ponzi frauds - but it should be noted by all that it is only a recent phenomenon that the USD is the world's reserve currency, and it can change with the blink of an eye.