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E Riksbank: Cash Must Be A Protected Legal Right For Good Reason
Sweden’s Riksbank says that cash must be a protected legal right. The central bank of Sweden fears that people will be locked out of the banking system, something I have warned could happen. It is nice to hear it from a central bank, though. A discussion of the shadow economy follows at the end of this article. I am sure that the contribution to GDP by the shadow economy, both legal and illegal, is massive. I am sure that this fact is not lost on central bankers. Now I can point to the Riksbank as my friends and relatives scoff, and say, see, I told you so. I have been telling them that the existence of cash is important and the talk of... -
Finance 0
Caterpillar Retail Sales Fall For Record 41 Consecutive Months
For Caterpillar (CAT), the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back… until December 2012 when comp sales once again turned negative and have been negative ever since. For the past 41 months! The breakdown showed that contrary to popular opinion, there has been no pick up in demand for heavy industrial machinery anywhere around the globe. Caterpillar global 3-mo. retail machine sales down 12% vs March 13% fall, Feb. down 21% North America machine sales down 11% after falling 8% in March Asi... -
Finance 0
Wal-Mart Q1 Earnings And Sales Beat On Comps Gain
Wal-Mart Stores Inc. (WMT – Analyst Report) started fiscal 2017 on a positive note with both earnings and revenues beating the Zacks Consensus Estimate. Revenues also increased owing to improved comps but earnings declined year over year. Unfavorable currency and higher investments in wages and e-commerce activities took a toll on the company’s results. Shares fell more than 5% in pre-market trading. Wal-Mart’s fiscal first quarter 2017 earnings of 98 cents per share beat the Zacks Consensus Estimate of 88 cents by 11.4% and exceeded management’s guided range of 80 to 95 cents per share. However, it declined 4.9% from the year-a... -
Finance 0
Kroger, On A Hiring Binge, Is A Buy
Note: This idea involves risk. Talk to your financial adviser before doing anything. Also, I could be wrong about this. The current rally – which started in 1Q09 — is getting a bit long in the tooth.Not only is technical analysis arguing against purchasing equities, so is the current earnings environment, where overall corporate profits have declined in 4 of the last 5 quarters. Finally, recent economic numbers, such as last months’ below estimate 160,000 job gains or the weak 1Q GDP print – add to the concern. While recession calls are premature, the macro-environment is weak. At minimum, stock analysts should look for compani... -
Finance 0
3 ETFs & Stocks To Fly High On Busy Summer Travel
A higher number of Americans are gearing up for the summer travel season this year encouraged by accelerated job gains, moderate wage growth, and cheap fuel that will lead to more trips through road and air. With just a few days left for the sunny season, the frenzy for trips during the holidays is really more this time than in many years. In fact, the latest survey from GasBuddy.com shows that drivers are expected to pay the lowest gasoline price since 2005. The average national price of gasoline is $2.23 per gallon currently, down 50 cents per gallon from last year. As a result, GasBuddy.com expects more than 75% of the Americans to travel ... -
Finance 0
Binary Options Asset Insights For May 20, 2016
With only a couple of Canadian announcements coming out during the day, it’s very likely the Friday will be fairly quiet. However, there are a few setups that we are paying attention to. WTI Crude Oil The WTI Crude Oil markets fell during the day on Thursday, but still remains above the psychologically significant $46 level. This was an area that was resistive previously, and could very well be tempting for call buyers to use as support. Silver markets fall Silver markets fell rather drastically during the day on Thursday, but have quite a bit of support below it is likely that call buyers will look at the area of $16 to be value. Because o... -
Finance 0
The Biggest Bubbles: China Vs. The U.S.
There is perhaps no other area where the tunnel-vision, hypocrisy, and corruption of the U.S. media is more visible than with respect to its nearly incessant China-bashing. Previous commentaries have exposed such vacuous drivel again and again and again. While the subject matter of the Corporate media’s China-bashing varies month to month, regularly interspersed in this propaganda are numerous variations of “China’s economy is in a bubble.” Once again this week, this is a theme in the U.S. mainstream media . Once again, we see hypocrisy of epic proportions. Chinese markets have rarely looked more like Vegas casinos. In recent... -
Finance 0
Elon Musk: It’s “Probably Unwise” To Short Tesla Shares
Tesla Motors CEO and visionary Elon Musk has warned investors against shorting his company, a bold statement amid the recent sharp downturn in Tesla’s share price. Musk – a South African-born Canadian-American business leader known for his outside-the-box thinking and incredible work ethic – was recently asked on Twitter what he would say to someone shorting his stock. “Probably unwise,” Musk responded in a tweet that has since been favorited over 500 times. Tesla’s share price is down over 7% since the beginning of the year. Tesla plunged over 35% through the first six weeks of 2016 – a period known as the worst start to a year... -
Finance 0
HH This Could Easily Become The Worst Urban Crisis In History: China
Like our resident market P.I. John Del Vecchio, Kyle Bass is one of those hedge fund managers who profited in the last crash when he bought credit default swaps to short the housing market. He’s also one of the few financiers in the market today who says there’s a reasonable chance the U.S. will fall into a recession over the coming months. But he’s really on the money when it comes to China. Mr. Bass estimates that China’s bad debt exposure is at least five times that of the subprime crisis in the U.S. Think that’s enough to trigger the next global financial crisis and depression? You bet it is! Two things are happening now in ... -
Finance 0
Middleby Corporation: Case Study Of An Intelligent Fanatic-Led 100-Bagger
Written by Ian Cassel In 2001, Selim Bassoul became CEO of a $40 million market cap microcap called, Middleby Corporation (MIDD). He had joined Middleby in 1996 and turned around the company’s Southbend division, and in 1999 became COO to help turn the rest of the company around. In 2001, now the CEO, he had the weight of the entire company on his shoulders, but he was confident in his abilities, strategy, and the Middleby Brand. He was so confident that he sold his brand new home so he could buy shares in Middleby and become the second largest shareholder in the company. Selim Bassoul, mentored by Jim Sinegal (Co-Founder of Costco), was...
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