In fact, stocks have risen at an average annualized rate of 9% during the 12 Fed rate hike cycles since the 1950s and delivered positive returns in 11 of those instances, according to Keith Lerner, Truist’s co-chief investment officer. The one exception was during the 1972-1974 period, which coincided with the 1973-1975 recession.
S&P
And a large military force, including Iskander short-range ballistic missiles, elite spetsnaz troops and anti-aircraft batteries, has arrived in Belarus from Russia’s eastern military district, an extraordinary deployment that western officials and analysts say could enable Moscow to threaten Kyiv, Ukraine’s capital.
Should we be entrusting private companies with a responsibility that would naturally fall on governments—such as verifying the identities of their own citizens? Just as we probably don’t want Amazon or Facebook controlling access to our tax records or a government lifeline when things go wrong, it isn’t clear we should want ID.me to be everywhere we want to be.
Tensions between Ukraine and Russia have led to the U.S. delivering 90 tons of military aid that arrived in Ukraine.
State Department orders families of U.S. embassy personnel in Ukraine to begin evacuating the country as soon as Monday.
You may want to note that the China Containerized Freight Index is making new highs while The BDI Baltic Exchange Dry Index is making lows.
@nntaleb
View BTC is as a contagious disease. It will spread, spread
& its price will rally until saturation, that is ~every sucker stupid
enough to buy the story is invested. When all suckers are in, the prevailing
belief will make it an "obvious" investment. That's maximal
fragility.
Comment 1: Why BTC is worth exactly 0 Gold and other precious
metals are largely maintenance free, do not degrade over an historical horizon,
and do not require maintenance to refresh their physical properties over time.
Cryptocurrencies require a sustained amount of interest in them.
Let us go deeper into how a currency can come about.
No transaction between two persons is analytically pairwise
in an open economy. The root of the confusion lies in the
prevalent naïve-libertarian illusion that a transaction between
two consenting adults, when devoid of coercion, is effectively
just a transaction between two consenting adults and can
be isolated and discussed as such12. But one must consider
the ensemble of transactions and the interactions between
agents: people happen to engage in contractual agreements
with others; for them a specific transaction is just one piece.
To be able to regularly buy goods denominated in bitcoin
(whose prices fixed in bitcoin but floating in U.S.$ or some
other fiat currency), one must have an income that is fixed in
bitcoin. Such an income must come from somewhere, say, an
employer. For an employer to pay a salary fixed in bitcoin, she
or he must be getting revenues fixed in bitcoin. Furthermore,
for the vendor to offer a can of beer in fixed bitcoins, she or
he must be paying for the raw material, and have the overhead
fixed in bitcoin. The same applies to the mismatch of assets
and obligations on a balance sheet. All this requires a parity
in bitcoin-USD of low enough volatility to be tolerable and
for variations to remain inconsequential.
Tulip file: Economist According to some estimates, Bitcoins’ electricity use is approaching that of Italy. “You waste all these resources only to end up with a system that is controlled by people you have even less reason to trust than those who run conventional financial institutions,”
S&P 500 Earnigs grew by 65% in 2021 - the highest annual increase on record.
RCEP: Asia readies world’s largest trade deal
Trade barriers between most countries in the
Asia Pacific will be lowered significantly from January 1 as the world’s
largest free trading bloc opens for business. The Regional Comprehensive
Economic Partnership (RCEP) is a trade deal between the 10-member Association
of Southeast Asian Nations (ASEAN) and China, Japan, South Korea, Australia and
New Zealand. RCEP will cover about 30% of global gross domestic product (GDP),
worth $26.2 trillion (€23.17 trillion), and nearly a third of the world’s
population, some 2.2 billion people.
ChinaIs Running Out of Water and That’s Scary for Asia
Thousands of rivers have disappeared, while industrialization and pollution have spoiled much of the water that remains. By some estimates, 80% to 90% of China’s groundwater and half of its river water is too dirty to drink; more than half of its groundwater and one-quarter of its river water cannot even be used for industry or farming.
Btw, INTC is part of the Dogs of the Dow for 2022
The emergence of a heavily mutated new strain of Covid-19 in South Africa, labeled B.1.1.529, has sent Asian investors scurrying for the exit door. The UK has paused flights from South Africa and five other neighbouring countries. We can expect more of the same elsewhere, the complacency seen with the emergence of delta in India being a lesson harshly learned. Two cases with the new variant have already been detected in Hong Kong today. There are also media reports this morning about tightening virus restrictions in parts of China.
Equity markets are being heavily sold including US futures, with OTC markets being closed overnight for the Thanksgiving holiday. S&P 500 futures are 0.85% lower, with Nasdaq futures down 0.70% and growth-centric Dow Jones futures tumbling by 1.25%.
Dow Trend Earnings aka Fed Model
According to the model the DJIA should be trading
at $97,000.
Btw, current earnings for the DJIA are $1601.47
thats up from $1011.07 year ago.
