Risk-Off Is King But Don’t Be Too Aggressive!
With US markets falling hard again today money is continuing to move into defensive and risk off assets. Sean Brodrick joins me to discuss a wide range of asset and commodities that all have mixed pictures. PMs are doing well but still a long way from a breakout. Oil is a mixed bag and very much held hostage by a lack of an OPEC agreement.
Click download link to listen on this device: Download Show
Does that include bankers?
For those interested in IMBBY, I ran a momentum algo and it indicates a potential bottom and “good” buying point at $27.8
(This is not investment advice and my own calculations are correct only about 65% of the time.)
Dang …someone else talking Debt Jubilee….
https://www.zerohedge.com/news/2018-12-04/time-pay-piper-saxo-banks-10-outrageous-predictions-2019
The Outrageous Predictions for 2019 are:
EU announces a debt jubilee
Apple “secures funding” for Tesla at $520/share
Trump tells Powell “you’re fired”
Prime Minister Corbyn sends GBPUSD to parity
Corporate credit crunch pushes Netflix into GE’s vortex
Australian central bank launches QE on housing bust Down Under
Germany enters recession
X-Class solar flare creates chaos and inflicts $2 trillion of damage
Global Transportation Tax (GTT) enacted as climate panic spreads
IMF and World Bank announce intent to stop measuring GDP, focus instead on productivity
CFS Commentary:
France has a serious problem.
This is in part due to its culture.
For over two centuries the poor have known that the more violently they protest, the greater the chance that the government will give in.
The origins of the current protest lie in the limits of taxation.
France has long subsidized against productivity; from a high minimum wage for the workers, to subsidized farm prices and farming.
Like many countries taxation has not covered the cost of government, despite relatively insignificant defense costs.
Rather than control spending, France opted to raise taxes.
Despite having relatively high rates of income tax, France instituted a tax on wealth about 30 years ago.
(Wealth includes property, stocks, bonds, antiques, art, jewelry, etc.)
For those resident in France, it was an annual tax on their total worldwide assets (property, savings and investments, jewellery, cars, etc) if the total value was over €1,300,000. This wealth tax was seen by the citizens as a way of reducing the gap between rich and poor. (it started out at 0.5% annually and rose to 3% by 2016.)
The problem for France that it has French-speaking low-tax neighboring countries, (e.g. Switzerland and Monaco.) and as a result the country was losing significant numbers of wealthy residents. A year ago Macron stopped the wealth tax,but proposed replacing some of the lost income by raising the tax on Gasoline, effective Jan 1, 2019.
This is the immediate cause of the riots.
The real cause is that excess socialism always runs out of money eventually.
Macron meets an egg….
Egghead got an egger! DT
😉
EX> HaHa…The person who threw that egg , ought to learn to throw an axe…..
Awell better luck next time.
+1
Last US Census indicates: 63 percent of ‘non-citizens’ on welfare, 4.6 million households
(This data is a bit dated and probably underestimates)