By the SRSrocco Report,
While the U.S. Shale Energy Industry continues to borrow money to produce uneconomical oil and gas, there is another important phenomenon that is not understood by the analyst community. The critical factor overlooked by the media is the fact that the U.S. shale industry is swindling and stealing energy from other areas to stay alive. Let me explain.
It is clear stocks are in a massive bubble based on their Price to Sale (P/S valuation).
What about the economy?
Warren Buffett once famously stated that his favorite means of valuing stock was the stock market capitalization to GDP ratio.
Below is a chart for this metric. As you can see, the stock market today is as overvalued relative to the economy as it was at the peak of the 1999 Tech Mania.
New-, Existing-, and now Pending-Home Sales all beat expectations in November.
Pending sales just printed a surprise 0.2% gain (against expectations of a 0.4% drop) with a surge in Northeast offsetting a second monthly decline in sales in The West.
Notably, pending home sales in The West are down 2.3% YoY - the 10th monthly drop in YoY sales in a row...
What happens next? (After the tax reform changes)
Authored by Michael Snyder via The Economic Collapse blog,
Independently-controlled cryptocurrencies such as Bitcoin, Ethereum and Litecoin may or may not survive in the long run, but blockchain technology is definitely here to stay.
This technology has revolutionized how digital financial transactions are conducted, and it was only a matter of time before the big boys began to adopt it. Previously, I have written about how the Washington Post is hyping something known as ‘Fedcoin’, but Fedcoin does not yet exist.
After selecting Fed governor Jerome Powell to replace Janet Yellen as Fed Chair when her term expires in February, the Trump White House has now moved on to interviewing a series of candidates for the Vice Chair position. As the Wall Street Journal notes this morning, two of the more likely candidates for that role are a pair of economists who served in senior positions in the George W. Bush administration.