The point of selling the SPR was to reduce inflation and hurt russia. That is not in any way 'purely political.' It is sound economics and strategy.
What is stupid is that they are apparently still draining it and they seem not to have refilled it at lower prices recently.
…advance of 2022 Congressional elections, and stupidly try to hurt Russia, while in the end hurt Americans….just more of the same…..
I don't understand how opening up some of our petroleum reserves to combat inflation just months ago hurt the American public. In hindsight, it seems like it was a good move, and presumably, there are sufficient reserves still to use as needed going forward.
Here's a solid prediction from 4/6/22, a year ago. This hedgie with 50k followers on Twitter correctly saw the end of QE clashing with a spike in financial assets/GDP, and seeing that as a problem for a loose economy that was about to get a lot of Fed tightening. Basically, he saw the end of endless liquidity as being bad for stocks, and he was correct.
Michael Taylor @Mike_Taylor1972 I cannot stress enough, IMHO this is the worst setup for stocks in 20 yrs. Of the dozens of metrics (that are bad) this one stands out: @Hedgeye can walk u thru “Quad 4”.
I cannot stress enough, IMHO this is the worst setup for stocks in 20 yrs. Of the dozens of metrics (that are bad) this one stands out: @Hedgeye can walk u thru “Quad 4”. pic.twitter.com/rNniUEd24o
At $4.69 trillion, the market cap of Apple & Microsoft is now $2 trillion higher than the combined market value of all the companies in the Russell 2000 ($2.69 trillion). $AAPL$MSFTpic.twitter.com/YnuchVmv8k
The 3-Month Treasury yield of 4.91% is now 1.61% higher than the 10-Year Treasury yield (3.30%). This is the most inverted yield curve in history. pic.twitter.com/qxMATiv1p4
S&P 500 EPS estimates continue to fall. Q1 2022 previous 52 week GAAP EPS came in at an all time high of $197.91, the estimate for Q1 2023 with 3.7% of the companies reporting has fallen to $171.83. I expect this number to continue to fall and be under at least $160 by year end. If so, this would imply a fair value of 2,560 for the S&P 500; $160 GAAP EPS x historic average multiple of 16 = 2,560.
Earnings Scorecard: For Q1 2023 (with 20 S&P 500 companies reporting actual results), 19 S&P 500 companies has reported a positive EPS surprise and 14 S&P 500 companies have reported a positive revenue surprise.
Listening to the radio just now, and 'I heard the news today, Oh boy!
Barrons, in their coverage, goes on to describes the March Jobs Report as follows: "The result evoked what is sometimes called a “Goldlocks” job market—not too hot, but not too cold, either."
Rainbow Chart - A New Dawn As you may have noticed: The original Bitcoin Rainbow Chart is dead! The chart, which was based on a model developed in 2014, held for quite some time. But after a brutal 2022 in the crypto industry...
Let It Bleed (50th Anniversary Edition) is out now:https://abkco.lnk.to/LetItBleed“She’s A Rainbow” by The Rolling Stones Composers: Mick Jagger, Keith Richa...
This poster has a huge 197,000 followers on twitter. He seems to be saying that the economy would be slowing sharply in the 1Q, causing inflation to drop. Didn't come true. GDP Now thought the 1Q would be +0.8% real GDP growth about when he wrote that...now GDP Now thinks the 1Q will be +2.2%.
Although he never uses a topic sentence so who knows what he really meant. See what I mean, gente?
AndreasStenoLarsen @AndreasSteno Equity markets right now: Hallelujah, inflation is falling Equity markets in 2-3 months: OOOOH, that what why inflation was falling
This post was edited 3 minutes after it was posted.
If the market starts moving up these shorts will have to buy to cover all day and all night, driving the market - or least the big SP500 megacaps they are short - higher and higher. Just need a spark.
Liz Ann Sonders @LizAnnSonders Hedge funds currently sitting with largest net short position in S&P 500 futures since late 2011
This post was edited 12 minutes after it was posted.
I'm as skeptical on Bitcoin as anyone but the energy usage thing is a huge red-herring. You can easily find just as many articles highlighting almost the exact opposite of that NY Times article. Case in point:
Bitcoin is many things but it's not inherently stealing people's electricity and it's probably actually far cleaner than the traditional finance system to be honest. Funny how no one measure how much energy that uses!
Seven of eight indexes on our world watch list posted gains through April 6, 2023. France's CAC 40 finished in the top spot with a YTD gain of 13.15%. Germany's DAXK finished second with a YTD gain of 11.46%, and China's Shanghai moved into third with a YTD gain of 7.23%. India's BSE SENSEX finished last with a loss of 1.66% YTD.
I'm as skeptical on Bitcoin as anyone but the energy usage thing is a huge red-herring. You can easily find just as many articles highlighting almost the exact opposite of that NY Times article. Case in point:
Bitcoin is many things but it's not inherently stealing people's electricity and it's probably actually far cleaner than the traditional finance system to be honest. Funny how no one measure how much energy that uses!
From Wikipedia: "The Competitive Enterprise Institute (CEI) is a non-profit libertarian think tank founded by the political writer Fred L. Smith Jr. on March 9, 1984, in Washington, D.C., to advance principles of limited government, free enterprise, and individual liberty. CEI focuses on a number of regulatory policy issues, including business and finance, labor, technology and telecommunications, transportation, food and drug regulation, and energy and environment in which they have promoted climate change denial"
Good find. Climate Change Deniers. read: POS.
Let me know when you find something from a reputable source. Until then, bitcoin deserves every bit of regulation countries like China throw at it. Oh, they've essentially killed it there because it is such a bad idea.
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