Juggling Dynamite

Jonestrading Chief Market Strategist Michael O’Rourke discusses his outlook for the markets. Here is a direct video link.

This chart of the S&P 500 since 1996 goes well with this discussion.

Chart source: David Stockman

As does this one of US Profits (blue line) and business investment (yellow) over the same time frame.  Note how the stock market has lagged the profit cycle throughout.  A year over year profit decline of 10% (as seen since 2015) has marked the onset of previous recessions in both 2001 and 2008 even as delirious stock prices (above) were topping out.

Chart source: CNBC

In this video the team is telling more about the project, the work behind it and how the security measures impacted their daily work life over the past year. Here is a direct video link.

Economist James Henry describes the network of international banks, law firms, accountants, and trust companies that allow wealth to be hidden in tax havens like Delaware.  Here is a direct video link.