Bill Blain: When There Is Too Much Cash around the Market Can Remain Irrational for Longer…

One of the key factors driving stocks higher in the wake of a trade “accommodation” rather than a peace treaty is momentum – markets want to go higher, anticipating growth. But the market is equally driven by the volume of cash ready to be thrown at it.  There is no shortage of ready liquidity - in this sense of too much easy money chasing too few assets, rather than liquidity: “who wants to buy this” conundrum.

Paul Craig Roberts: A Successful Coup against Trump Will Murder American Democracy

As Biden was US Vice President at the time and is currently the leading Democratic candidate for the US presidential nomination, he is clearly guilty of what Trump is accused. Why is only Trump subject to investigation? If an offense that is merely suspected or alleged suffices for impeaching a president, why isn’t a known and admitted and bragged about offense reason to disqualify Biden from being president?

Bill Blain: Melt up or down?

There is massive danger is a reeling bond market.  If we see rising yields morph into a serious bond market meltdown, the melt-up in stocks could split and go rancid very quickly. Rising rates have massive negative implications for corporate credit and without the juice of further central bank easing – stock markets could well lose heart.

Negotiating Brexit

The first step is to make sure that the Prime Minister has the full power to bind the United Kingdom and to obtain the best result through his negotiators. You cannot have a Prime Minister whose moves are undermined by reports of a Parliament that will not accept no deal.

America’s Political Implosion

America’s democracy and constitution is being trashed by unelected shadowy forces, aided and abetted by prestigious media outlets like the New York Times. These forces presume to know better or have more privilege than their fellow Americans who “voted the wrong way”.

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