S&P 500

Authored by Michael Snyder via The Economic Colapse blog,

European shares are lower, pressured by disappointing results by Deutsche Bank and ending a six-session gain, as Asian equities and S&P futures were little changed after a record-setting rally in world stocks which pushed the MSCI World index to over $50 trillion yesterday, fizzled after Trump released unconvincing tax cut plans prompting traders to "sell the news" while caution set in as the ECB met.

By Paul Brodsky of Macro Allocation Inc.

Authored by Charles Hugh-Smith via OfTwoMinds blog,

Until the system implodes--you're a genius.

So you've ridden the markets higher--stocks, housing, commercial real estate, bat guano, quatloos, you name it--everything you touch turns to gold. What can we say, bucko, other than you're a genius!

The US stock market is officially in a massive bubble based on the one valuation metric that cannot be faked.

Corporations can engage any number of accounting gimmicks to juice their earnings, cash flow, and dividends… for this reason P/E, P/CF and P/DY ratios are all suspect when it comes time to value a corporations.

Sales cannot be gimmicked. Either money comes in the door, or it doesn’t. And if a company is caught messing around with its sales numbers, someone is going to jail.