Posts Tagged ‘collapse of capitalism’

IS THIS THE DEATH OF CAPITALISM?

IS THIS THE DEATH OF CAPITALISM?

Courtesy of The Pragmatic Capitalist

Grim reaper

“A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the Nation, therefore, and all our activities are in the hands of a few men… We have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.” – Woodrow Wilson

MarketWatch ran a very provocative article by Paul Farrell titled “The Death Of Soul Capitalism: 20 Reasons America Has Lost Its Soul And Collapse Is Inevitable”.   Of course, such a title attracts attention.  As of the time of my writing the article had well over 1,000 comments.   Screaming “fire” in a crowded theater attracts attention after all.  Mr. Farrell’s story, however, isn’t just your latest case of screaming “fire” in a crowded theater.  This country and capitalism as we know it are at an incredibly important juncture in history.

While I agree with parts of the article, the overriding outlook is incorrect in my opinion.  Despite the current sad state of affairs I have not lost faith in the system that has created more wealth and more prosperity in 200 short years than any other system in the history of man.  We are on a slippery slope, but not a hopeless slope.  Despite this, I believe there is a fundamental misunderstanding between the capitalist system upon which this country was founded and the banking controlled capitalist system that has run amok these last two decades.  Fixing our problems involves fixing the banking controlled crony capitalism that currently has a stranglehold on the country.

The article begins by referring to the lopsided state of affairs on Main Street and Wall Street.  As regular readers knowI am furious at the way the banks have taken advantage of the taxpayer.  I am furious about the Fed’s plan to try to print our way to prosperityI am furious about the government’s continued irresponsible fiscal policy.  I am furious that the government and the Federal Reserve are so willing to destroy the…
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Bullish Today, Marc Faber Is “Highly Confident” the Future Will Be Very Bleak

Marc Faber believes capitalism and the dollar are headed towards collapse, but it won’t be reflected in the market for the next few years. He presents good reasons for the collapse of capitalism (though many would argue it’s dead already). Why is there a disconnect between his future prognosis and his feeling that the markets will hold up for a while? Because "people [will be] expropriated without really noticing it right away, but one day they notice… then to divert the attention from the public the governments then go to war…"  Worth watching the video.  – Ilene

Bullish Today, Marc Faber Is "Highly Confident" the Future Will Be Very Bleak

By Aaron Task at Tech Ticker, interview with Aaron Task and Henry Blodget.

"The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society," Marc Faber writes in the September issue of The Gloom, Boom & Doom Report.

A statement like that pretty much speaks for itself, but it’s a bit more complicated than appears on first blush…

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Kimble Charting Solutions

Bearish Divergences Similar To 2000 & 2007 In Play Again!

Courtesy of Chris Kimble

Does history at important junctures ever repeat itself exactly? Nope

Do look-alike patterns take place at important price points? Yup

This chart looks at the S&P 500 over the past 20-years.

In 2000 and 2007 bearish momentum divergences took place months ahead of the actual peak in stocks.

Currently, momentum has created a bearish divergence to the S&P 500 for the past 20-months, as the seems to have stopped on a dime at its 261% Fibonacci extension level of the 2007 highs/2009 lows.

Joe Friday Just The Fact Ma’am; A negative sign for the S&P 500 with the divergence in play, would take place if support b...



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Zero Hedge

Libra Members Consider Quitting Project Due To Gov't Pressure: Report

Courtesy of ZeroHedge View original post here.

Authored by Marie Huillet via CoinTelegraph.com,

At least three of Facebook’s early backers for its planned Libra stablecoin launch are considering withdrawing their support in light of the fierce regulatory pushback.

...



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Phil's Favorites

The PhilStockWorld.com Weekly Webinar - 08-21-19

 

For LIVE access on Wednesday afternoons, join us at Phil's Stock World – click here.

Major Topics:

  • 00:01:28 - Checking on the Markets
  • 00:11:52 - TSLA vs. Walmart
  • 00:18:07 - Spitting Cobra Pattern
  • 00:22:00 - M & THC
  • 00:33:37 - IBM
  • 00:40:42 - Climate Change Miami
  • 00:42:28 - Greenland Ice Melt
  • 00:46:28 - Futures
  • 00:51:02 - Jobs created thru Trump Administration
  • 00:53:40 - U.S. Population Growth by Year
  • 01:00:00 - FED Minutes
  • 01:09:08 - Global Warming
  • 01:16:37 - LTP Review
  • 01:19:20 - STP ...


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The Technical Traders

Do Good Traders Make Good Gamblers?

Courtesy of Technical Traders

Without breaking the rules, have you ever made a trade that was guaranteed to make you money? A trade that was literally guaranteed to succeed.

If you’re struggling to come up with an answer, we’ll give you a helping hand, the word you’re searching for is likely no. Every financial trade ever made – no matter how sound and well researched using technical analysis – carries with it an element of risk.

Outside factors beyond your control always have the possibility of turning profits into losses and ecstasy into agony. In many ways, trading is similar to gambling. For instance, you may think you know ...



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Insider Scoop

Earnings Scheduled For August 22, 2019

Courtesy of Benzinga

Companies Reporting Before The Bell
  • Hormel Foods Corporation (NYSE: HRL) is estimated to report quarterly earnings at $0.36 per share on revenue of $2.29 billion.
  • BJ's Wholesale Club Holdings, Inc. (NYSE: BJ) is projected to report quarterly earnings at $0.37 per share on revenue of $3.38 billion.
  • DICK'S Sporting Good...


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Chart School

Gold Gann Angle Update

Courtesy of Read the Ticker

Everything awesome? Gold over $1500. Central banks are printing money to generate fake demand. Germany issues first ever 30 year bond with negative interest rate. Crazy times!

Even Australia and New Zealand and considering negative interest rates and printing money, you know a bunch of lowly populated islands in the South Pacific with no aircraft carriers or nuclear weapons. They will need to do this to suppress their currency as they are export nations, as they need foreign currency to pay for foreign loans. But what is next, maybe Fiji will start printing their dollar. 

Now for a laugh, this Jason Pollock sold for more than $32M in 2012. 





Ok, now call Dan...

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Lee's Free Thinking

Watch Out Bears! Fed POMO Is Back!

Courtesy of Lee Adler

That’s right. The Fed is doing POMO again.  POMO means Permanent Open Market Operations. It’s a fancy way of saying that the Fed is buying Treasuries, pumping money into the financial markets.

Over the past 6 days, the Fed has bought $8.6 billion in T-bills and coupons. These are the first regular Fed POMO Treasury operations since the Fed ended outright QE in 2014.

Who is the Fed buying those Treasuries from?

The Primary Dealers. Who are the Primary Dealers?  I’ll let the New York Fed tell you:

Primary dealers are trading counterparties of the New York Fed in its implementation of monetary policy. They are also expected to make markets for the New York Fed on behalf of its official accountholders as needed, and to bid on a ...



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Digital Currencies

New Zealand Becomes 1st Country To Legalize Payment Of Salaries In Crypto

Courtesy of ZeroHedge View original post here.

Bitcoin and other cryptocurrencies have been on a persistent upswing this year, but they're still pretty volatile. But during a time when even some of the most developed economies in the word are watching their currencies bounce around like the Argentine peso (just take a look at a six-month chart for GBPUSD), New Zealand has decided to take the plunge and become the first country to legalize payment in bitcoin, the FT reports.

The ruling by New Zealand’s tax authority allows salaries and wages to b...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Biotech

DNA testing companies offer telomere testing - but what does it tell you about aging and disease risk?

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

 

DNA testing companies offer telomere testing – but what does it tell you about aging and disease risk?

A telomere age test kit from Telomere Diagnostics Inc. and saliva. collection kit from 23andMe. Anna Hoychuk/Shutterstock.com

Courtesy of Patricia Opresko, University of Pittsburgh and Elise Fouquerel, ...



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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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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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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.

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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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