What's wrong with America in a nutshell is that the bailout class is void of conscience and intelligence. Too many free-money bailouts have cleaved them from any form of reality and accountability. I suggest the rage will accumulate over the course of this month, as the tax returns roll in:
This (above) is the now obligatory "Be happy you got your refund early even though you were told it was a tax cut" argument. Taxpayers should be grateful that a con man who has gone bankrupt several times is now managing their personal finances. The author of this brainless shite, being just another clueless frat boy moron, of the type that is rampant right now.
Which gets us to Wall Street.
And this last ditch attempt to revive the IPO market, by zig zagging through history's largest market mine field not the least of which is serial government shutdowns.
Where this gets interesting is that Monday is a casino holiday for President's Day of all things. The irony can't be overlooked.
IPOScoop.com
"Wall Street is racing the clock to take six companies public before Friday [shutdown]"
Sadly, all indications are that Wall Street already missed their window of Ponzi opportunity by a country mile. Which does not bode well for record over-priced "unicorn" IPOs waiting to be dumped onto the public. The difference between Y2K and now, is that now companies remain private far longer during their fastest growth stage, so that founders can cash out for billions instead of millions. The only downside being that if the cycle ends, the companies go bankrupt for lack of access to funding.
Which gets us to this last pump and dump rally. It appears to be led by a combination of the "safest" companies which I showed yesterday and by moonshots of internet junk.
Of the moonshots, here is the highest quality one, since it only has a P/E ratio of 175. At least it has earnings.
Workday is another example in the same (Cloud) space. This one loses almost half a $billion per year. Yes, you read that right.
"What bubble?"
What I call the "Harvard" sector:
"Our work is done here"
Since the tax cut, there have been four pump and dumps in the past year.
This will be the last one:
"Some 7 million Americans are 90 days or more behind on their auto loan payments"
A recent Bankrate survey finds most Americans haven’t gotten a pay boost in the past year. October 2018’s average wage had about the same purchasing power as it did 40 years ago, according to Pew Research. As costs like health care and child care continue to increase, wages are struggling to keep up. Chief financial analyst Greg McBride at Bankrate says auto loan delinquencies are an accurate measure of financial strain."
On a % basis, the number of delinquencies is at a late 2007 level:
"The long-awaited earnings recession has finally arrived, but investors are still too optimistic and should anticipate more disappointment as the year drags on, according to Morgan Stanley."
Wilson was the most accurate Wall Street strategist tracked by CNBC in 2018"
