While today's drift lower in NFLX shares was widely attributed to AMZN's more aggressive expansion into the streaming video space, some wondered if there was more to it. Moments ago, the answer was revealed and it was a resounding yes.
It's crazy pills time - no doubt... Doha was a dud and Morgan Stanley's 52% crash in earnings was better-than-expected...
Did you really expect anything else...?
Submitted by Ron Paul via The Ron Paul Institute for Peace & Prosperity,
This week, President Obama and Vice President Biden held a hastily arranged secret meeting with Federal Reserve Chairman Janet Yellen. According to the one paragraph statement released by the White House following the meeting, Yellen, Obama, and Biden simply “exchanged notes” about the economy and the progress of financial reform. Because the meeting was held behind closed doors, the American people have no way of knowing what else the three might have discussed.
Despite the remarkable recovery in crude oil prices today, traders were not buying the bounce-back in one crucial market. Bets on the future devaluation of the Saudi Riyal surged by the most in 3 weeks today.
The 45 pips drop in 12-month forward USDSAR rates is the 2nd biggest jump in 2 months...
Via MauldinEconomics.com,
You often hear me harping on the dangers of too much debt, and I keep my eyes peeled for significant work that backs up my concerns.
In my recent Outside the Box, good friend Dr. Lacy Hunt of Hoisington Investment Management gave us more ammunition to take on those who just don’t seem to get that the endless piling up of debt is not a sustainable way to run an economy.