Authored by MN Gordon via EconomicPrism.com,
“Injustice, swift, erect, and unconfin’d,Sweeps the wide earth, and tramples o’er mankind”
– Homer, The Iliad
When Mount Vesuvius Blew
Everything was just the way it was supposed to be in Pompeii on August 24, 79 A.D. The gods had bestowed wealth and abundance upon the inhabitants of this Roman trading town. Things were near perfect.
European and Asian stocks slumped on Thursday following the worst one-day drop in US stocks in 8 months, while S&P futures tumbled to session lows, down 0.3% to 2,350 after initially posting a modest rebound, following a new Reuters report alleging that Trump campaign members communication with Russians on at least 18 occasions, and which prompted today's risk off mood sending the USDJPY crashing by 100 pips from overnight highs of 111.40.
Authored by David Stockman via The Daily Reckonig blog,
Yesterday I said the Donald was absolutely right in canning the insufferable James Comey, but that he has also has stepped on a terminal political land-mine. And he did.
The “Trump trade” in U.S. stocks that was spurred by President Donald Trump’s November election has come and gone, according to Tony Dwyer, Canaccord Genuity Group Inc.’s chief market strategist.
Since President Trump was elected - much to the heart-crushing chagrin of the billionaire class in Silicon Valley and its epic funding of Hillary - the big 5 stocks of the Nasdaq (Alphabet, Amazon, Apple, Facebook, and Microsoft) have gained a stunning $675 billion in market cap.
This pushes them near $3 trillion and well over 10% of the entire US equity market...