first a big hello to jason hope graduation was fun. lol if i had a nickel for every time i responded to this erroneous quote i would buy the rothschilds. tj never said it never wrote it and the terms inflation and deflation were not in usage during his time. but it is on the internet so it must be truev
ps
sager i thought you were in upstate new york? forgive me i do not visit here very often once a month seems to be my cycle) so have not kept up with the old gang
For the first time since early 2012, the total margin debt outstanding at the NYSE has dropped. The data is as of May 31, 2013. When margin debt dropped off in late 2007, the market soon followed. Not saying this is the end of the world, but its one more pretty reliable sign that things may be turning down.
Yes Davefairtex, this is another tell you add to a growing list.
Mortgage interest rates rising (4.80 % plus) and 10Y at over 2.50 is another don't you think?
Everywhere we look I just see tells that this market is over cooked. The corporate profits at 70% above median is not going to continue. It will revert to historical mean, and when it starts then the exits are way to far away as the HFT traders would have already barred the doors.
We haven't even fully absorbed the austerity measures implemented a few months ago. If the unemployment figures and retail are higher in the next reporting session then nothing is reported honestly. How can you remove the SSI tax and raise taxes and expect the consumer to have more discretionary spending is just unrealistic, so this must affect an economy already dishonestly reported. Add to this the new unemployed and there sense of hoarding now that they have less income will have a very strong effect on the economy if you ask me.
Gold surely implies deflation IMHO. It would be nice to see oil confirm the down trend soon. The cost of oil is an above ground geopolitical and weather related speculation in a simple observation if you ask me. Copper surely is saying watch out below and lumber, what;s up with that? So many other metals such as Platinum, Palladium sure are acting as if a correction is near. Wheat, corn, etc…
If purchasing 85 Billion a month can't stem the tide after Trillions already spent then the Fed is fighting a battle against deflation that is not commonly understood.
How can you eliminate the SSI tax and increase taxation and anticipate the customer to have more optional investing is just impractical, so this must impact an economic system already dishonestly revealed. Add to this the new jobless and there feeling of holding on to now that they have less earnings will have a very powerful impact on the economic system if you ask me.