We'd probably all agree the best time for the US economy in the past 70 years was the 50's-60's...expanding middle class, solid economic growth and a high standard of living...Right about the time we entered Vietnam, Nixon took us off the gold standard and crude oil prices exploded higher (cue 70's crime, sky high inflation and Volcker jacking rates up to 20% to tame the beast)...Since then look at the volatility of crude oil...
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70 points down gap in the ES....
- Thread starter Pekelo
- Start date
I wonder if Dick Bove is still bullish on those banks????
Big takedown in that sector today....
See just as I predicted
http://www.cnbc.com/2016/06/24/this-analyst-doesnt-see-what-all-the-bank-stocks-fuss-is-about.html
We'd probably all agree the best time for the US economy in the past 70 years was the 50's-60's...expanding middle class, solid economic growth and a high standard of living...Right about the time we entered Vietnam, Nixon took us off the gold standard and crude oil prices exploded higher (cue 70's crime, sky high inflation and Volcker jacking rates up to 20% to tame the beast)...Since then look at the volatility of crude oil...
View attachment 164890
The last 30 -40 years of "growth" has been nothing but asset bubbles on top of asset bubbles especially starting from the mid 80s or so.....the last 15 years has been nothing but the fed pumping the markets....as you can see no matter how hard the fed tries they are just creating the problem....this country will never have the kind of growth it had in those years you mentioned....its impossible......growth has stalled and isn't coming back anytime soon....many can keep wishing for it but it's done....
Dick Bove is to banks as Peter Shiff is to gold.
Both are always touting their respective positions with any major news event. The only things that really matter if you're an investor in such sectors are cost basis and time horizon. The rest is just noise.
I think you were my teacher when I got my G.E.D 5 yrs ago, that's exactly what I was taught.We'd probably all agree the best time for the US economy in the past 70 years was the 50's-60's...expanding middle class, solid economic growth and a high standard of living...Right about the time we entered Vietnam, Nixon took us off the gold standard and crude oil prices exploded higher (cue 70's crime, sky high inflation and Volcker jacking rates up to 20% to tame the beast)...Since then look at the volatility of crude oil...
View attachment 164890
The last 30 -40 years of "growth" has been nothing but asset bubbles on top of asset bubbles especially starting from the mid 80s or so.....the last 15 years has been nothing but the fed pumping the markets....as you can see no matter how hard the fed tries they are just creating the problem....this country will never have the kind of growth it had in those years you mentioned....its impossible......growth has stalled and isn't coming back anytime soon....many can keep wishing for it but it's done....
No argument from me...The Fed began to "juice" the markets especially around the mid-90's onwards...It was right about the time offshoring was really taking hold...We replaced manufacturing with the F.I.R.E. economy...hence, everything is about pumping up asset prices...Think about how many people you've come across in the past twenty years that work in either finance (seems like there are millions of financial advisors), real estate (mortgage brokers) and insurance...Of course, the oil chart is also tied into dollar strength/weakness...mid 90s with the strong dollar led to low oil prices, the most disinflationary period of time with enormous asset inflation (best of both worlds), but once we blew up that bubble, it's been a whole lot of chronic inflation (in the necessities) to get these asset bubbles back to their frothy heights.
Dick Bove is to banks as Peter Shiff is to gold.
Both are always touting their respective positions with any major news event. The only things that really matter if you're an investor in such sectors are cost basis and time horizon. The rest is just noise.
I didn't even know that Dick Bove was still around...My favorite shill was Joey Battipaglia "Batts"...From what I remember he went from a raging bull (for one firm that required the constant bull blather) to a raging bear (he saw the writing on the wall and knew it would be a career saver)...sort of like Blodget...
What a let down. I expected SPX to fall 6% and VIX to reach 35.
Basically the majority of non-US markets have been acting like bear markets for awhile now...They can, and often do, drop like the SPX used to drop (pre-2009)...Just looking at a Russell/IWM chart, you'd be hard pressed to even think anything out of the ordinary happened last night...It's not even close to its mid-May lows...Might be peak complacency.
Funny Jim Cramer article from June 21st 2016 that said a BREXIT wouldn't mean anything to US stocks or economy... Ha-ha....dow only dropped 600+ points.
There's been so much news coverage about whether the United Kingdom will leave the European Union that it's making us numb, Jim Cramer told his Mad Money viewers Tuesday. But no matter what the outcome, it really won't matter to the U.S. stock market. In fact, the issue is far less important than had Greece or Portugal defaulted on their debts a few years ago, as many good and gloom pundits had also predicted.
https://www.thestreet.com/story/135...recap-brexit-means-nothing-to-u-s-stocks.html
There's been so much news coverage about whether the United Kingdom will leave the European Union that it's making us numb, Jim Cramer told his Mad Money viewers Tuesday. But no matter what the outcome, it really won't matter to the U.S. stock market. In fact, the issue is far less important than had Greece or Portugal defaulted on their debts a few years ago, as many good and gloom pundits had also predicted.
https://www.thestreet.com/story/135...recap-brexit-means-nothing-to-u-s-stocks.html