Edward Dempsey, CIO of Pension Partners, says investors are “caught in a hard place” as a “contraction is arriving in the U.S.” Here is a direct link.
Copper and the cyclically sensitive Canadian TSX have been telling us this story for many months now as shown here.
Chart source: Cory Venble, CMT, Venable Park Investment Counsel Inc.
Jim Chanos, Kynikos Associates, shares his perspective on the markets; institutional shorting; and why he believes China’s economic troubles are getting worse. Here is a direct link.
The Chinese bubble deflating has been harming its previously ferocious growth and commodity markets which had come to rely on unsustainable demand. See: Wheels come off of the commodities supercycle
More from Rick Santelli on “the high-speed casino our markets have become”…Here is a direct link.
And here on the capital risks inherent in today’s broken, shallow markets. Exchanges need to move back to a public utility model and away from the profit-desperate, inattentive toll booths they have become. Here is a direct link.
Cory’s Chart Corner
In both directions. h/t @LanceRoberts
This is really pretty incredible.
US household holdings of equities and mutual funds reached a record 278% of disposable personal income in the second quarter of 2026, up from just 29% in 1982, amplifying the stock market’s influence on consumer spending and economic activity.
