Hospitality

We have frequently noted the precarious state of the U.S. mall REITs (see "Myopic Markets & The Looming Mall REITs Massacre" and "Is CMBS The Next "Shoe To Drop"?

Guest Column by Julian Assange

https://www.rt.com/news/373071-wikileaks-odni-report-hacking/

The post Guest Column by Julian Assange appeared first on PaulCraigRoberts.org.

Denial is not just a river in Egypt...

Source: ComicallyIncorrect.com

A flock of stoned sheep went on a “psychotic rampage” over the New Year after eating cannabis dumbed in a village in Wales. According to locals from the Welsh village of Rhydypandy in Swansea, the sheep were spotted roaming around the streets and randomly breaking into people’s homes. County councillor Ioan Richard told reporters that sheep were “getting in people’s gardens and one even entered a bungalow and left a mess in the bedroom”.

While everyone in the world appears convinced that (and positioned for) bond yields go higher, stocks go higher, gold goes lower, and risk has been vanquished, UBS notes that the world's largest, most active overweight crowded trade is in Amazon.com stock (followed cloesly by UnitedHealth.

At 175x P/E what could go wrong?

Notably, while Amazon is the most crowded long in the developed markets, Alibaba is the most over-crowded in global emerging markets...