Archive for 2018

More 30-Year-Olds Still Living With Their Parents, Study Finds

Courtesy of ZeroHedge. View original post here.

Young adults are now more likely to live with their parents than in any other living arrangement, according to new analysis of demographic data published by Axios, reflecting trends of the last half decade. And it's not just a college grad thing anymore as even 30-year-old millennials are now more likely to stay at home while still paying off school loan debt and earning the same or less income than boomers.

Axios concludes of what it is to be 30 then and now that, "In the mid-to-late-20th century, the American economy and culture were ripe for 30-year-old men, who — more than European and Japanese — typically landed well-paid careers, bought homes, and supported large families. But since then, getting ahead has become much harder."

So what forces continue to steer people into their parents’ basements? 

from "Failure to Launch" (2006)

Naturally, Millennials probably took it for granted that they'd successfully imitate their parents and even surpass them in areas of establishing a financially secure family by their late 20's or early 30's, being debt-free while saving for retirement, and earning higher wages than their parents, but the numbers suggest this isn't happening.

Though now comprising almost a quarter of the population and as the largest demographic currently in the workforce, their median salaries are lower or the same as the prior generation, yet as Axios finds "the financial burdens they carry are heavier, limiting how much their lifestyle can mirror that of their parents."

* * *

Here's what it is to be your parents' thirty vs. being thirty today by the numbers:

Data, via Axios: College attendancemedian income, and home ownership from U.S. Census Bureau; cost of tuition from CollegeBoard; median debt from "The Great American Debt Boom, 1948-2013" by Alina Bartscher, Moritz Kuhn, Moritz Schularick and Ulrike I. Steins; marriage figures from a Pew Research Center analysis of the 1960-2000 decennial censuses and 2010 and 2016 American Community Survey (IPUMS). Note: All dollars are inflation-adjusted to 2016. Chart: Harry Stevens/Axios

The data suggests:

  • A break with prior American rites of passage, including marriage and child-bearing. According to some demographers,

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Facebook, Zuck Sued By “Shocked” Shareholders As “The Truth” Emerges

Courtesy of ZeroHedge. View original post here.

Following a disappointing earnings announcement that wiped out about $120 billion of shareholder wealth, Facebook, its CEO and CFO, are being sued by a shareholder potentially opening the floodgates for sore-losing stock market gamblers the world over.

"As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s common shares, Plaintiff and other Class members have suffered significant losses and damages"

Who could have seen that coming?

The complaint filed by shareholder James Kacouris in Manhattan federal court accused Facebook, Zuckerberg and Chief Financial Officer David Wehner of making misleading statements about or failing to disclose slowing revenue growth, falling operating margins, and declines in active users.

Kacouris said the marketplace was “shocked” when “the truth” began to emerge on Wednesday from the Menlo Park, California-based company. He said the 19 percent plunge in Facebook shares the next day stemmed from federal securities law violations by the defendants.

"The Individual Defendants possessed the power and authority to control the contents of Facebook's SEC filings, press releases, and other market communications. The Individual Defendants were provided with copies of the Company’s SEC filings and press releases alleged herein to be misleading prior to or shortly after their issuance and had the ability and opportunity to prevent their issuance or to cause them to be corrected.

Because of their positions with the Company, and their access to material information available to them but not to the public, the Individual Defendants knew that the adverse facts specified herein had not been disclosed to and were being concealed from the public, and that the positive representations being made were then materially false and misleading. The Individual Defendants are liable for the false statements and omissions pleaded herein."

Presumably Mr Kacouris would have preferred if Zuck had leaked the material non-public information to him first so he could have unwound his holdings in Facebook shares and avoided the losses from reality suddenly biting on a stock that has grown to the proverbial skies.

As Reuters notes, shareholders often sue companies in the United States after unexpected stock price declines, especially if the loss of wealth is large. The lawsuit seeks class-action status and unspecified damages. A Facebook spokeswoman declined to comment.

Full Docket below…

Brace For A “Storm Of News” In The Coming Week

Courtesy of ZeroHedge. View original post here.

In the aftermath of the busiest week of Q2 earnings season, just as traders prepare to depart for their various vacation destinations, a whirlwind of economic and financial events – or as Bloomberg calls it, a "storm of news", is about to be unleashed on the globe, including closely watched central bank announcements from the BOJ, the Fed and BOE, while the US jobs report on Friday in conjunction with inflation data scattered over the week for the US and Europe will keep traders on their toes. In addition, there are also 145 S&P 500 companies due to report as earnings in Europe will also ramp up. Finally, the US Treasury will unveil its latest bond sale details which are expected to result in an increase to auction sizes,

We start with the Bank of Japan, where unlike recent snoozers, Tuesday's announcement will warrant greater attention following recent speculation in the media about whether we'll see a tweak in the yield curve targets. Despite rumors it could soon unveil a plan to eventually adjust its stimulus by revising the 0% target fof 10Y JGBs, all 44 economists surveyed by Bloomberg predict the Bank of Japan will maintain the current setting on interest rates, while Governor Kuroda is set to unveil fresh inflation forecasts, which the press has leaked will be in a downward direction. An increase in the JGB yield target appears unlikely at a time when it is expected to revise downward its inflation forecast. According to Deutsche Bank, the BoJ will declare at the end of its statement that, based on its analysis in its quarterly Outlook Report, it will maintain its easing policy for an extended period "but will conduct financial market operations and asset purchasing operations to address the mounting cumulative side effects." One likely adjustment is that the BOJ will overhaul its ETF purchasing operations (by shifting from Nikkei 225-linked ETF to Topix-linked ETF, leading to potential weakness for the Nikkei).

The Fed will likewise not announce any change in policy given that this is not a meeting that includes a post-meeting  conference or a fresh summary of economic projections. However in light of the recent escalation in trade war, it'll be interesting to see the Fed's updated views. Recent comments from President Trump…
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Amazon’s Hiring Spree Appears To Be Over

Courtesy of ZeroHedge. View original post here.

It was a tough week for FANG stocks with even the all-conquering unable to hold on to its post-earnings gains.

However,  as Statista's Felix Richter notes, after a remarkable hiring spree and the acquisition of Whole Foods saw Amazon add more than 200,000 employees in 2017, the first six months of 2018 indicate that the company's workforce will be growing at a less spectacular rate this year.

Infographic: Amazon's Hiring Spree Appears to Be Over | Statista

You will find more infographics at Statista

In the first six months of 2018, the e-commerce giant added 9,700 employees to its global workforce, which is less than the average monthly growth of 2017. 

Amazon CFO Brian Olsavsky said on a call with reporters Thursday that Amazon has slowed its external hiring in favor of filling some positions with internal transfers.

“What we are doing is probably hiring and transferring more people internally in the last six months, so the net hiring hasn’t been driven by external hiring, it’s been more by internal transfers and re-leveling in some areas and seeing where we maybe need to add back,” Olsavsky said.

On a separate call with analysts, Olsavsky said he doesn’t necessarily see this hiring practice as a long-term trend but it “certainly creates a lot of operating efficiencies.”

Amazon is only the second U.S company to employ more than half a million people, but it will have a hard time grabbing the number 1 spot anytime soon: Walmart currently employs 2.3 million people around the world.

“China’s Economy Is Held Together By Capital Controls. If Those Fail, The Whole System Fails”

Courtesy of ZeroHedge. View original post here.

Submitted by Eric Peters, CIO of One River Asset Management


  • (2006) China’s State Nuclear Power Technology Corp signs $8bln JV with Westinghouse then takes 75,000 technical docs on its latest AP1000 reactor.
  • (2006) Westinghouse’s PA servers are repeatedly penetrated by the Chinese, technical and R&D docs are stolen.
  • (2015) China breaks ground on the CAP1400 nuclear reactor, a Westinghouse AP1000 clone.
  • (2018) Brookfield buys bankrupt Westinghouse for $4.6bln.
  • (Today) China is building reactors in Pakistan and Romania, with scheduled projects in Argentina, Britain and Iran. They’re bidding on Saudi, South African and Turkish projects.


“Russia at its very worst is a moderate threat to the US,” said the investor. “They have modest regional ambitions. They’re mischievous. But plenty of countries don’t do what we want.” If they wanted to nuke us, they would’ve during the Cold War. “China is the real strategic threat. They’ve coopted much of the US political and financial system,” he said. “Wall Street makes a ton of money from China.” No one that matters makes money from Russia. “It’s so telling that everyone is in hysterics over Russia. It’s a distraction that makes you wonder if the Chinese aren’t enabling or pushing the narrative.”

“The best way to bring Beijing to its knees is by running a tight monetary policy in the US,” continued the same investor. “China has the world’s most overleveraged, fragile financial system.” In 2008, China’s total debt-to-GDP was 140%. It is now roughly 300%, while GDP is slowing. “The economy is held together by capital controls. If those fail, the whole system fails.” The capital flight in 2015/16 cost the government $1trln in reserves, and that was with ultra-dove Yellen in charge. Imagine what would have happened with Volcker at the helm. “The Chinese are dying to get their money out.”

“Engineering a decade of rolling Chinese financial crises would be the most effective foreign policy the US could run,” continued the same investor. Forget about the South China Sea, don’t bother with more aircraft carriers, just let Beijing try to cope with their financial system. “And we’re 80% of the way there – we instigated a trade war,
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Tesla Sued For Sexual Discrimination By Former Retail Workers

Courtesy of ZeroHedge. View original post here.

Another day, another lawsuit for Tesla, another set of bizarre tweets from Elon Musk.

According to Bloomberg, three former retail employees of SolarCity, the solar-panel installer acquired by Tesla in November 2016 under controversial circumstances (and allegations of less than arms-length dealings between related parties), have sued the company, alleging that managers discriminated against them on the basis of age or sexual orientation, resulting in their termination in 2017, according to a lawsuit filed in a San Diego state court (Staples v. Solar City, 37-2018-37100, California Superior Court, San Diego County).

Some details from the lawsuit:

  • One plaintiff said he complained to management, including Musk, about harassment related to his sexual orientation. He was subsequently fired on May 31, 2017
  • A 59-year-old plaintiff is suing after being fired and then replaced by a “significantly younger individual that was less than 30-years-old”
  • The lawsuit also claims that SolarCity created “fake potential sales accounts” used to “support unjustified sales bonuses” and an “unreasonably high valuation of SolarCity”
  • The complaint alleges the employees are owed back pay and benefits

This is not the first time Tesla has been accused of sexual discrimination or harassment:

Last year, Tesla fired the woman who sued the company for ignoring her complaints over alleged sexual harassment. Engineer AJ Vandermeyden spoke publicly about her 2016 lawsuit against Tesla earlier in the year year, saying “until somebody stands up, nothing is going to change.”

In an interview with the Guardian in February, Vandermeyden said there was “pervasive harassment” at Tesla, including catcalls on the factory floor.

She also said the company retaliated against her when she raised concerns about cars being sold in “a defective state.” In addition, she claimed that she was paid less than men for doing the same work at the company.

Tesla said then that it found Vandermeyden’s complaints were unsubstantiated.

Subsequently Tesla told SiliconBeat that it has fired Vandermeyden, saying it did so after an internal investigation as well as after “retaining a neutral, third-party expert to conduct an independent investigation of Ms. Vandermeyden’s claims.”

Tesla has been accused of various other employee-related woes, including an effort to…
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Iran’s Currency Craters Most On Record Amid Panicked Scramble Into US Dollars

Courtesy of ZeroHedge. View original post here.

Iran's rial flashed lower on Sunday against the US Dollar, as panicked Iranians scrambled into USD amid deepening economic woes and the imminent return of full US sanctions. The unofficial "black market" rate stood at 102,000 Rials by mid-Sunday according to website Bonbast, and confirmed to AFP by a currency trader. 

The Rial has lost half its value against the US Dollar over the last four months – breaking through the 50,000:1 mark in March for the first time. In April, Tehran deployed a series of measures to try and stop the slide – including firing the governor of the central bank, fixing the Rial at 42,000 and threatening to crack down on black market traders. 

But the selling continued as Iranians have panicked about a prolonged economic downturn, turning to dollars as a safe way to store their savings, or as an investment in the hope the rial will continue to drop, according to France24.

With banks often refusing to sell their dollars at the artificially low rate, the government has been forced to soften its line in June, allowing more flexibility for certain groups of importers. The handling of the crisis was one of the reasons behind last week's decision by President Hassan Rouhani to replace central bank chief, Valiollah Seif.

Alas for the Islamic Republic, none of it has worked. 

As Johns Hopkins economist and Senior Cato Institute Fellow Prof. Steve Hanke noted in late June, "The Islamic Republic of Iran remains in the ever-tightening grip of an economic death spiral. The economy is ever-vulnerable because of problems created by the last Shah, and added to massively by the incompetence and shenanigans of the theocratic regime. Indeed, the economy is more vulnerable to both internal and external shocks than ever. How fast the death spiral will spin is anyone’s guess."

Three days ago, Hanke produced this chart: 

The Iranian #rial is plummeting. Since yesterday, the black market rate has remained at 93,000 IRR/USD.

— Prof. Steve Hanke (@steve_hanke) July 26, 2018

On Sunday, Hanke noted that Iran's annual…
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The Two Things Goldman’s Clients Are Most Worried About Now

Courtesy of ZeroHedge. View original post here.

After last week's collapse in Facebook shares, Goldman's clients are hardly happy: after all, Goldman – which has a Buy rating on the stock – not only upped its price target from $205 to $225 back on April 26, which it then promptly trimmed back to $205 after the biggest value destroying event in history, but at the start of June explicitly said there was no danger of a bubble forming in tech stocks for years. And it's hardly only Goldman clients: as Goldman's David Kostin writes in his latest Weekly Kickstart, "FB ranks at the top of our Hedge Fund VIP List, with 97 funds owning it as a top 10 portfolio position"…

… although in a curious move, the bank also notes that investors that did own FB and sold following its results "apparently rotated into other stocks rather than holding cash; on Thursday the S&P 500 excluding FB rose by 10 bp, seven of 11 sectors posted positive returns, and share prices of FB’s FANG peer GOOGL rose by 75."

Yet while Goldman clients appear to have taken Facebook's collapse in stride, they are expressing another growing worry namely the "bad breadth", or increasingly more narrow leadership, of the market. We first noted this one month ago when we discussed that just the Top 4 stocks have been responsible for 84% of the S&P's upside in the first half of the year.

First forward 4 weeks, when Goldman's Kostin writes that the biggest concern expressed in client conversations has been the increasingly narrow breadth of the equity market in that "the top 10 contributors have accounted for 62% of the S&P 500 7% YTD return", and this even after Facebook's record plunge which also dragged down some of the other most prominent tech names.

Kostin continues:

Of these 10 stocks, nine are technology or internet firms. The Technology sector alone accounts for 56% of the S&P 500 YTD return (76% including Consumer Discretionary members AMZN and NFLX).

As a result, Goldman's proprietary "Breadth Index" currently reads 0 out of 100.

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Why Americans Are About To Experience Sharply Higher Prices

Courtesy of ZeroHedge. View original post here.

A few weeks ago, SocGen asked what is arguably the most important question relating to the global trade wars: are tariffs inflationary or deflationary? While there were various nuances, its conclusion was simple: "Inflationary short term, disinflationary medium term."

It appears that the "short-term" part has now arrived, because after several rounds of tit-for-tat tariffs and retaliations between the US and China, American consumers are about to be hit with sharply higher prices as tariffs on industrial metals put pressure on U.S. manufacturers.

In May, President Trump imposed steel and aluminum tariffs on the EU, Canada, and Mexico to help preserve America’s manufacturing base. The response: steel and aluminum prices have risen 33% and 11% respectively since the beginning of the year, as manufacturers began to price in the tariffs.

Moreover, tariffs on additional imported products from China have added even more costs for producers, which are now being aggressively passed through to the consumer.

"You’re going to see higher prices passed on to consumers…almost immediately" Matt Gold, a former deputy assistant U.S. Trade Representative for North America under former President Barack Obama, told CNBC. "A lot of goods are already warehoused that were imported months ago, so it takes a bit of time to catch up, but prices catch up pretty fast," he added.

"The way it works is that a U.S. importer pays the taxes to the customs duties or customs tariffs to the U.S. Treasury," Gold explained. "Of course, that’s going to effect the sale price [and] whatever price at which the exporter sells to the importer is going to lower, because the importer has to pay duties in addition to paying the purchase price."

Gold added that for American consumers, those soaring costs would be spread "really across the board. With Chinese retaliatory tariffs, we’ve imposed those on $34 billion of different goods coming from China. It’s a very broad array of consumer products, industrial products."

“So everything from the person who walks into Walmart is going to pay higher prices as well as the manufacturer buying material imports for their manufacturing processes,” the former official added.

To be sure, the…
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State Street’s Opportunity


State Street’s Opportunity

Courtesy of 

Friday’s Wall Street Journal did a big story about how the inventor of the ETF product, State Street’s SPDRs unit, has seen its market share fall as Vanguard and BlackRock’s iShares have gobbled their way up to the top.

State Street launched the first ETF 25 years ago and dominated the market for a decade. Today, its slice of U.S. ETF assets is just 17.3%—down from 49% 15 years ago. More worrying for its future, State Street captured just 5.9% of the $343 billion that poured into ETFs in the past year. By contrast, Vanguard Group and BlackRock Inc.’s iShares took in a combined 67%. Even Charles Schwab Corp., a relative newcomer with just 22 ETFs, had a fatter haul.

The article goes into how this happened, and it basically boils down to State Street not being bold enough early on with new offerings or being aggressive enough about slashing fees on the products. The bank didn’t really see the big picture and, besides, paying S&P big money to license its indices as well as the SPDRs trademark made it nearly impossible to compete on cost.

I’m a fan of State Street Global Advisors and the SPDRs products and I think they have a big opportunity to win back some share. I’ll lay out the broad strokes of what I would do.

The RIA community’s favor is the single most important determinant of flows. Institutions and self-directed retail investors use ETFs, but investment advisors are absolutely in love with them. Big picture, whether or not your products make it into the model portfolios recommended by RIAs is the whole ball game. State Street understands this, which is why last year it rolled out a brand new suite of ultra low-cost index ETFs, and cut a commission-free trading deal with major brokerage custodian platform TD Ameritrade Institutional. The phone call I got the morning of the rollout was “It’s official, we are ready to compete for every slice of your core portfolio now.”

Smart move. Advisors are obsessed with delivering a low expense ratio core portfolio because it makes their overall management fee to the end-client more palatable. This is a major…
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Zero Hedge

Will The US Slap Sanctions On Nord Stream 2?

Courtesy of ZeroHedge. View original post here.

Authored by Nick Cunningham via,

There is a growing push in the U.S. Congress to slap sanctions on the Nord Stream 2 pipeline.

The pipeline under construction would carry Russian natural gas to Germany, and has been a lightning rod of controversy both in Europe and across the Atlantic. Many governments and officials from Eastern Europe fear deeper dependence on Russia for gas supplies, a sentiment echoed by the U.S. government. Meanwhile, many in Western Europe are less concerned,...

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Phil's Favorites

US is already fighting a conflict with Iran - an economic war that is hurting the wrong people


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US is already fighting a conflict with Iran – an economic war that is hurting the wrong people

Courtesy of David Cortright, University of Notre Dame

Many are worried about the risk of war with Iran after the Trump administration leaked discussions of a troop deployment in response to claimed threats to U.S. warships in the region.

And in r...

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Insider Scoop

Jefferies Sees 60-Percent Upside In Aphria Shares, Says Buy The Dip

Courtesy of Benzinga.

After a red-hot start to 2019, Canadian cannabis producer Aphria Inc (NYSE: APHA) has run out of steam, tumbling more than 31 percent in the past three months.

Despite the recent weakness, one Wall Street analyst said Friday that the stock has 30-percent upside potential. 

The Analyst

Jefferies analyst ... more from Insider

Kimble Charting Solutions

DAX (Germany) About To Send A Bearish Message To The S&P 500?

Courtesy of Chris Kimble.

Is the DAX index from Germany about to send a bearish message to stocks in Europe and the States? Sure could!

This chart looks at the DAX over the past 9-years. It’s spent the majority of the past 8-years inside of rising channel (1), creating a series of higher lows and higher highs.

It looks to have created a “Double Top” as it was kissing the underside of the rising channel last year at (2).

After creating the potential double top, the DAX index has continued to create a series of lower highs, while experiencing a bearish divergence with the S...

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Chart School

Brexit Joke - Cant be serious all the time

Courtesy of Read the Ticker.

Alistair Williams comedian nails it, thank god for good humour! Prime Minister May the negotiator. Not!

Alistair Williams Comedian youtube

This is a classic! ha!

Fundamentals are important, and so is market timing, here at we believe a combination of Gann Angles, ...

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Digital Currencies

Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control


Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

The high seas are getting lower. dianemeise

Courtesy of Iwa Salami, University of East London

The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...

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DNA as you've never seen it before, thanks to a new nanotechnology imaging method

Reminder: We are available to chat with Members, comments are found below each post.


DNA as you've never seen it before, thanks to a new nanotechnology imaging method

A map of DNA with the double helix colored blue, the landmarks in green, and the start points for copying the molecule in red. David Gilbert/Kyle Klein, CC BY-ND

Courtesy of David M. Gilbert, Florida State University


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More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...

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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism


The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...

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Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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Free eBook - "My Top Strategies for 2017"



Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:


·       How 2017 Will Affect Oil, the US Dollar and the European Union


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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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