While normally Wednesday's Fed meeting would be the week's biggest market-moving event, this time - smack in the middle of the busiest earnings week of the year - it may not even make the top three, buried ahead of the coming news of the next Fed Chair (in which Trump is set to unveil Jerome Powell on Thursday), and the GOP tax bill (which just saw its Wednesday release delayed by one day).
Via AdventuresInCapitalism.com,
Earlier today, Milliman released their 2017 Public Pension Funding Study which explores the funded status of the 100 largest U.S. public pension plans. Not surprisingly, this study only served to confirm many of the rather alarming trends surrounding public pension ponzi's that we discuss on a regular basis.
Earlier, we reported on Under Armour’s epic stock collapse down over -75% from its September 2015 highs. This is one stock Central Bankers forgot to buy. Today’s stock crash -15% is being felt across Baltimore once again, city streets are eerily calm, as the latest round of millennials who ‘bought the dip’ called in sick this morning. Something tells us, the avocado and toast breakfast will be sadly missed by many….
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
The Grim Reaper has taken his scythe to the Venezuelan bolivar. The death of the bolivar is depicted in the following chart. A bolivar is worthless, and with its collapse, Venezuela is witnessing the world’s worst inflation.