Tax Cut Reversal Of Fortune

In order to keep conning the exact same people with the exact same policies, you have to dumb down the populace to the level of a fucking brick. Culminating with substituting reality with reality TV, and a Manchurian Candidate for a real President:

"The season finale is coming up at the Helsinki summit on Monday, and we'll see whether Trump's behavior with Putin in person is as deferential as his rhetoric from afar."

Shockingly thirty-eight years of Supply-Side failure continually recycled as "success", is once again ending in "unforeseen" failure. This will not be a crash, it will be annihilation for those who believe that there is any such thing as reality, in reality TV...


Any questions?

This rally is running on glue fumes. Those who believed that global trade wars and global oil wars would bring rationality to the casino, picked a bad week to stop sniffing glue...

For those keeping track at home, the ball is now in China's court.

"China is shocked at the U.S. action," the Commerce Ministry said in a statement on its website Wednesday. "To protect the core interests of the nation and its people, China’s government is, as in the past, forced to retaliate."

The real reason why banks are rolling over is because the tax cut for the ultra-wealthy is only benefiting the ultra-wealthy. Shocking, I know.

"The U.S. economy is more vibrant than it has been in years, yet the bond market insists a recession could be on the horizon."

“The bond market is telling us the [economic recovery] is going to end soon...but they’re too early to call the end of the business cycle"

Who to trust really? The bond market or Financial Services con men? Why wouldn't higher interest rates at the end of a decade-long debt binge be good for the economy? After all, it's never worked any other time...

Deja vu of April, Wall Street is disappointing Wall Street:

Deja vu of 2016:

The totally ignored story this week was the outbreak of Oil Wars 2.0:

Nowithstanding global trade wars and global oil wars, the S&P has been rallying for two weeks straight, in anticipation of tax-cut fueled earnings. Now struggling to retake 2,800, last tagged four months ago:

Be that as it may, there are signs that this rally is running on glue fumes:

"Prime Day starts on Monday, July 16th"

35% of S&P 500 returns, year-to-date:

The last time the S&P was at this same level, China Tech was a tad higher. And as we see, there is some amount of correlation: