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Stay out of real estate

The reason is simple. Budget deficits are rising, state and Municipalities are now having more pension obligations with falling revenues. It is easier to tax an immovable asset like property than movable assets because then technically you can move to… Continue Reading

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The Perils of Stop and Go

Doug Noland writes…. China’s Aggregate Financing (approximately system Credit growth less government borrowings) jumped 2.860 billion yuan, or $427 billion – during the 31 days of March ($13.8bn/day or $5.0 TN annualized). This was 55% above estimates and a full… Continue Reading

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Pretty Isn’t the Point!

By Apra Sharma From January 1927 to December 2018, U.S. value stocks have posted an annualized return of 12.6% vs 9.9% for U.S. growth, according to research from Gernstein Fisher. Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management… Continue Reading

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Hard Landing

Martin Armstrong writes on the issue of Global hard landing The hard landing is economic and will have its greatest impact outside the USA. While central banks have sold US Treasuries in an attempt to keep the dollar down, the… Continue Reading