Markets are continuing the post-rate hike slump this week as the Dow Jones and S&P both started out the week in the red, reversing the rally that brought last week's trading to a close. The latest bad news for the markets comes on the back of more bad news from the oil and gas sector, with prices for March futures contract on crude down to $31.62 and March natural gas falling 14.6 cents to $2.152.
Not to worry, though. As we all know by now the American economy is no longer about such trivialities as commodity prices or actual manufacturing activity. It's about such important, backbone sectors as Big Tech companies that have never turned a profit and Hollywood box office receipts. So investors should be heartened by the latest news out of Silicon Valley: the battle of the tech giants is heating up once again as Google's newly-minted parent company, Alphabet, Inc., just surpassed long-time champ Apple as the world's “most valuable” company.
The appropriately named (CIA/NSA/FBI) Alphabet (Soup) Inc. just announced its earning for Q4 2015 and it busted past wildest expectations. The company earned $4.9 billion on revenue of $21.3 billion, or $8.67 per share...
A war on cash is being waged in every continent and every country by the same bank gangster or bankster that will benefit from it all. The are working towards a day when every transaction is completely trackable and controlled by banks.
Sadly for the people of the UK, HSBC's threats to move may just be a bargaining strategy they're using to wring yet more concessions out of the British government.
So if these are not the string-pullers and masters of the universe that the media loudly proclaims them to be, who are the string-pullers? The question is bound to provoke much meaningless debate and speculation about who is at the top of the pyramid...
...in the midst of this beginning-of-the-end of the 8 year long QE re-leveraging heroin binge we have news that seems to put a bow on the 2008 crisis: Goldman Sachs has announced that it has reached a $5.1 billion settlement as its wrist slap for participating in the subprime mortgage meltdown.
S&P 500 hits lowest level since Oct 2014, Pain was felt across the board. All 10 major S&P sectors were deep in the red and all 30 Dow components lost ground, U.S. economic data on Friday was also not very encouraging.
While I believe that we’re in a bear market and that we’re going much lower, the market is trying to keep the averages looking good. Take out just 9 stocks from the S&P, the S&P average would be down well over 5 more percent.
But this is still... the time of New Year cheer, so let me leave you with a more whimsical thought: All New Year's predictions inevitably fail.
Truly the conspiracy toothpaste is out of the tube and there’s no point in trying to put it back. While in many ways this represents the crowning achievement of the tireless efforts of generations of conspiracy researchers who have toiled in relative obscurity, it is not an unmitigated good.
With the creation of this new system, the petrodollar, the oiligarchs reached unprecedented levels of control over the economy. Not only that, they backed the world monetary system with their commodity, oil, and brought potential competition under their control all in one step.
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The creator of the International Forecaster, Bob Chapman.