Whatever you do - remember "all is well"
Dow ended higher (with MMM and HD the biggest drivers) as Trannies, Small Caps (ugly into the close), and the Nasdaq red with S&P clinging to unchanged...until the very last minute...
Authored by Jim Quinn via The Burning Platform blog,
I know some people don’t like charts, but I think they tell stories. The two charts below tell a story the mainstream media, Trump, Wall Street, and the Deep State don’t want revealed.
The first chart shows the year over year percentage change in personal income taxes collected by the Federal government and the second chart shows the year over year percentage change in corporate income taxes collected by the Federal government.
While not quite as damning as its 2018 credit forecast, Morgan Stanley's chief equity strategist Michael Wilson released his 2018 equity outlook this morning, and unlike his last full year forecast which in retrospect was surprisingly accurate, is far more contained, if not outright pessimistic. Wilson himself is quick to remark on just how much conditions have changed over the past 11 months:
Authored by Chris Whalen via The Institutional Risk Analyst,
The term “Greenspan Put” was coined after the stock market crash of 1987 and the subsequent bailout of Long Term Capital Management in 1998. The Fed under Chairman Alan Greenspan lowered interest rates following the fabled event of default and life continued.
Dallas Fed President Robert Kaplan just went full 1996 Greenspan...
In an esay designed to explain "A Balanced Approach to Monetary Policy", Kaplan included an ominous section pointing at the very significant bubbles that have been blow in recent years...
Monitoring for Evidence of Building Imbalances