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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Phil's Favorites

More than 1,000 cryptocurrencies have already failed - here's what will affect successes in future

 

More than 1,000 cryptocurrencies have already failed – here's what will affect successes in future

Gaining currency? Wit Olszewski

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

Many cryptocurrencies have been launched in the past few yea...



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Digital Currencies

More than 1,000 cryptocurrencies have already failed - here's what will affect successes in future

 

More than 1,000 cryptocurrencies have already failed – here's what will affect successes in future

Gaining currency? Wit Olszewski

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

Many cryptocurrencies have been launched in the past few yea...



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Zero Hedge

WeWork Bonds Crash To Record Lows After Slashing 17% Of Workforce, Expansion On Hold

Courtesy of ZeroHedge

The WeWork implosion continues to unfold spectacularly. The company, slated 1.5 months ago as a top Wall Street IPO candidate at a valuation of more than $40 billion, has seen its valuation collapse to $8 to $10 billion range and has had SoftBank bailout it out from near bankruptcy. 

As the struggling office-sharing company slashes jobs, closes locations, and restructures to avoid eventual bankruptcy, its "cost-cutting" measures are kicking into overdrive as another 2,400 employees globally have been laid off, reported ...



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Kimble Charting Solutions

Junk Bonds About To Send Stocks A Bearish Message?

Courtesy of Chris Kimble

Are junk bonds about to send stocks an important message? It looks like it from this chart!

Junk Bond ETF (JNK) has created a series of lower highs and lower lows over the past couple of years, inside of falling channel (1). When it broke support in early 2018 at (2), stocks struggled to make much upward progress for the next few months.

The rally off support last year saw JNK hit falling resistance a few months ago and some softness has set in. The small decline of late has it testing a series of higher lows at (3).

What JNK does at (3), looks to sen...



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Insider Scoop

PayPal Will Buy Honey Science For $4B

Courtesy of Benzinga

PayPal Holdings Inc. (NASDAQ: PYPL) is acquiring Honey Science Corp for $4 billion.

Honey Science Corp was founded in 2012 and is headquartered in Los Angeles. Honey helps people automatically find online coupons and discounts while ...



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Lee's Free Thinking

NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!

 

NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!

Courtesy of , Wall Street Examiner

Here’s today’s press release (11/14/19) from the NY Fed verbatim. They’ve announced that they will be making special holiday welfare payments to the Primary Dealers this Christmas season. I have highlighted the relevant text.

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of repurchase agreement (repo)...



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The Technical Traders

VIX Warns Of Imminent Market Correction

Courtesy of Technical Traders

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX. These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance. This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. 

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically v...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

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

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Chart School

Dow Jones cycle update and are we there yet?

Courtesy of Read the Ticker

Today the Dow and the SP500 are making new all time highs. However all long and strong bull markets end on a new all time high. Today no one knows how many new all time highs are to go, maybe 1 or 100+ more to go, who knows! So are we there yet?

readtheticker.com combine market tools from Richard Wyckoff, Jim Hurst and William Gann to understand and forecast price action. In concept terms (in order), demand and supply, market cycles, and time to price analysis. 

Cycle are excellent to understand the wider picture, after all markets do not move in a straight line and bear markets do follow bull markets. 



CHART 1: The Dow Jones Industrial average with the 900 period cycle.

A) Red Cycle:...

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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

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

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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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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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