Authored by Bonner & Partners' Bill Bonner, annotated by Acting-Man's Pater Tenebrarum,
Free Money!
Last week, the Dow punched up above 19,000 – a new all-time record. And on Monday, the Dow, the S&P 500, the Nasdaq, and the small-cap Russell 2000 each hit new all-time highs. The last time that happened was on the last day of December 1999.
At the start of 2016, many financial pundits mocked Kyle Bass and a handful of other China skeptics for predicting that China's economic difficulties, and accelerating capital outflows, would translate into a continued devaluation for the Yuan. Less than a year later, with the Yuan plunging to all time lows, just shy of USDCNH 7.00, they were right.
Following September's 9.3% MoM plunge in Aussie home approvals, hopes were high that October would see a bounce (expectations were for a 2% gain) as central bankers jawboned confidence higher. However, it didn't... Building approvals collapsed 12.6% MoM and a shocking 24.9% year-over-year decline is equal to the worst drop since Lehman. Ironically, just this month Aussie Treasurer eased restrictions on foreign buyers (otherwise known as bag holders it would seem).
Submitted by Michael Lebowitz via 720Global.com,
"All is for the best in the best of all possible worlds" – Voltaire (Candide/The Optimist)
Consider the media headlines and stories published before and after the presidential election.
Before the election:
Angela Merkel has been caught funnelling over $5 million of German taxpayers money to the Clinton Foundation in an underhanded effort to try and influence the recent U.S. elections. Between July and September 2016, Merkel gave millions of German taxpayers money to the Clinton Foundation, according to German newspaper Die Welt. Legalinsurrection.com reports: According to a newly surfaced donor list, the Clinton charity received around $5 million from Germany’s Ministry for Environment.