Financial Bubbles | timiacono.com - Part 3

Might Now Be a Good Time to Panic?

It looks like it’s going to be another miserable day for the stock market due to – Surprise! – tumbling oil prices, China concerns, and mounting evidence that U.S. earnings season is going to be quite disappointing.

From the Gary Varvel collection at TownHall – alternatively…

Also on the bright side, Blackstone chief Stephen Schwarzman thinks this is just a correction and Ken Rogoff says it’s time to consider negative interest rates here in the U.S.

Money Monster

This looks interesting … just in time (May 13th release date) for the 2016 election to heat up and for voters to start thinking intently about how their pocket books have fared.

There’s more on this in Hollywood and Bernie Sanders Take Over Reforming Wall Street over at Wall Street on Parade where it is learned that yet another Wall Street movie will be offered up later this election year – Equity – this one starring Anna Gunn of Breaking Bad Fame.

Bread and Circuses: Powerball Edition

noun
1. something, as extravagant entertainment, offered as an expedient means of pacifying discontent or diverting attention from a source of grievance.

Obviously, what we’ll see next are even more rule changes to make the chances of winning go even lower and the payouts even higher. One youth outside a 7-11 the other night was heard to say, “If you don’t play, you can’t win”. Well put.

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Why China Matters

After the worst start to a new year on record for stocks, news this morning that China’s exports were not nearly as bad as many feared sent stock markets surging higher for reasons that should be clear in the Voronoi diagram below from HowMuch.net.

Oppenheimer & Co. senior oil and gas analyst Fadel Gheit neatly summarizes what’s currently going on in energy markets at about the 1:40 mark below:

I believe there is an agenda here that Saudi Arabia will not allow oil prices to recover until they take care of marginal producers in shale plays in the U.S. … also, to settle their score with the Iranians and Russians.

Of course, it doesn’t help that the price of money has been distorted for so long that it’s become nearly impossible to determine what the price of anything else should be.

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