With Obama yet again on TV, taking credit for the Fed's reflation of the stock market as somehow indicative of an economic "recovery" ("fiction peddlers" not allowed in the crowd), here is another way of showing the unprecedented transformation in the US labor pool: since December 2014, the US has added just under 450,000 waiters and bartenders, and no manufacturing workers.
Behold: "Obama's recovery."
Buy Gold, ‘Get Out Of The Stock Market’ Warns Druckenmiller
Buy gold and ‘get out of the stock market’, legendary billionaire investor, advised investors at an investment conference in New York this week.
Druckenmiller, who has one of the best long-term track records in money management, said the stock market bull market has “exhausted itself” and that gold “remains our largest currency allocation.”
At the end of Wynn's Q1 conference call, CEO Steve Wynn went on an epic tirade focusing initially on short sellers then shifting into a fascinating, and detailed, explanation of how HFTs manipulate his stock. What he explained happens to his stock when HFTs attempt to deceive traders, is what we have said ever since 2009.
Here is the key excerpt from his conference call transcript.
Moments ago it was Goldman, and now here is Bank of America, which until today had expected at least two hikes in 2016 but following "a string of disappointing data", it too has thrown in the towel.
From the otherwise very cheerful Ethan Harris, so cheerful in fact that he forecasts no recession over the next decade.
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Fed call: it is a story for September
Well that escalated quickly.. After 3 VIX-smash saves this week, the selling pressure won (for now) as a dead-cat-bounce after the dismal jobs data has sent S&P 500 back into the red for 2016 (joining Nasdaq and Small Caps) with Dow and Trannies getting close...
The bounce is dead...
After 3 VIX-smashing saves...
But Bonds & Bullion lead the way since The Fed's rate hike...