2016 sowed the seeds of change. Now what?

As 2016 draws to a close, I am one who thinks the year has been monumental for the change it will bring to the world both economically and politically in the near future. Historians will begin to see the import probably ten years from now, but the seeds were sown for a dramatic shift towards […]

Dow industrials get coal instead of 20K

As I wrote on Dec. 19th, Dow 20K was not in the cards this year. The Dow rose 11.7% from The Trump election to its all-time high close of 19,974.62 on Dec.20, and then churned lower. This wall came with the backdrop of the Fed raising rates a week prior and the Trump administration coming […]

Holiday cheer seems to be sales jeers

The latest retail sales figures coming out say there was a 4.9% increase from 2015 levels. Total sales are estimated to come in $637 billion, according to retail research firm Customer Growth Partners reported. I think that number is way too high, but it plays out the narrative of “Trumpeuphoria” revitalizing the economy and increased […]

Chinese take out bolsters bitcoin to $930

In an abbreviated week of trading with volume being very low and volatility at an ever lower low, I don’t expect much in the way of movement in stocks. Bonds on the other hand may move to higher yields as investors book losses this year to get the make tax deduction on capital losses. Over […]

Deutsche’s $7.2B DOJ deal

First, I would like to wish my readers a Merry Christmas and Happy Holidays. So Friday morning news came out that Deutsche Bank has agreed to pay the Department of Justice $7.2 billion for writing and selling bogus mortgage securities. The fine is almost half of the $14 billion the DOJ requested in September of […]

Bitcoin’s Asian contagion

Bitcoin is having another moment. As the total value of all bitcoins in circulation hit a record high moving above $14 billion on Thursday, the¬†digital currency jumped 5 percent in trading to hit its¬†highest levels in three years after more than doubling in price this year. What’s behind this run up in price is the […]

Banks settling up with regulators

Two Wall Street banks agreed to pay multi-million fines Wednesday without admitting guilt as usual. Goldman Sachs was fined $120 million for rigging a key interest rate index, according to the Commodity Futures Trading Commission. And JPMorgan agreed to settle charges and pay $30 million fine brought by Swiss financial regulators for rigging Libor and […]