Business

Authored by Greg Hunter via USAWatchdog.com,

Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system.

Roberts says,

“Any of these central banks are really only there for a handful of big banks. That’s all they are concerned with.

 

Despite credit card giant American Express reporting another round of solid quarterly earnings, with revenue of $8.40bn beating expectations of $8.19bn, and generating EPS of $1.50, also above the $1.48 expected, and boosting its profit guidance for good measure, now projecting full year EPS of $5.80 to $5.90, up from $5.60 to $5.80 (above the consensus estimate of $5.75), AXP stock initially spiked, then immediately slumped back to  unchanged, following news that the company's CEO since 2001, Ken Chenault, is retiring effective February 1, 2018.

Don't fight The Fed or The Machines...

The Dow is now the 2nd most overbought in 22 years... 3rd most overbought in 62 years

The core thesis presented earlier by Fasanara Capital, is that what is taking place in the market right now is the blowing of arguably the biggest asset bubble in history, or rather twin bubbles - impacting both equities and bonds...

... created by trillions in central bank liquidity injections, and characterized by unprecedented equity valuations...

... concurrent bond bubbles, especially in Europe...

... defined by a "fake markets cycle"...

... which relies on narratives created daily to justify the "fake markets"...

Authored by 720Global's Michael Lebowitz via RealInvestmentAdvice.com,

As Halloween nears, kids are choosing costumes to transform themselves into witches, baseball players and anything else they can imagine. In the spirit of Halloween, we thought it might be an appropriate time to describe the most popular costume on Wall Street, one which many companies have been donning and fooling investors with terrific success.