Black Friday Sales Tumble 13% On Thanksgiving Thursday Opening Scramble

Update: more data trickling in from the NRF, and since it is not pretty,  so expect much more blame to fall on the weather. U.S. consumers spent $57.4b over Black Friday weekend, down from last year’s $59.1b, National Retail Federation says Con… [...]

This Inflation Is Supposed To Be GOOD For Japanese Workers?

Wolf Richter Japan’s new economic religion, lovingly dubbed Abenomics, relies mostly on a money-printing binge that monetizes the entire government deficit plus a chunk… [...]

Signs of a Top

The primary drivers of asset prices are the economy and corporate earnings. With that in mind, consider that both are rolling over today.   Indeed, when we take the big picture, we find that corporate profits, as a percentage of GDP are also at al… [...]

The Magic Of Forward P/E Multiples In One Chart

As readers may or may not recall, one of the main arguments the bulls had in early 2008, a month after the recession had already begun (according to the NBER’s retrospective conclusion over a year later) to justify that the S&P 500, which had recen… [...]

Michael "Big Short" Burry: After Every Over-Consumption, "A Brutal Hangover Is Inevitable"

On America’s day most famous for over-consumption, we thought a few minutes of quiet ‘tryptophan-induced’ contemplation of the state of our world would be useful. Infamous for his correct predictions of the great recession, Europe’s demise, and the col… [...]

5 Things To Ponder Over Thanksgiving

Submitted by Lance Roberts of STA Wealth Management, With the "inmates in charge of the asylum" during this holiday shortened trading week it seemed to be an apropriate opportunity to share a virtual cornucopia of topics to consider while enj… [...]

Albert Edwards: ‘Investors Demand A Sign Of When To Get Out And That Trigger May Have Just Arrived"

With every other bear throwing in the towel left and right these days, we fully expected that the latest letter by SocGen’s Albert Edwards would have something about “how much he hates looking at himself in the mirror, but…” and then we would be serv… [...]

Exposing The Reality Of The "Too Good To Be True" Greek Budget Myth

Authored by Martin Feldstein, originally posted at Project Syndicate, Recently, newspaper headlines declared that Greece would have a balanced budget for 2013 as a whole. The news came as quite a shock: Recall that when Greek officials came clean about… [...]

The Punch Line: The Complete Macroeconomic Summary And All The Chart To Go With It

From Abe Gulkowitz’ The Punch Line Meager Growth but the Market Roars… An interim deal on Iran’s nuclear program pushed oil prices lower and sent global equities higher as investors’ risk appetite rose on an easing of some Middle East tensions. A… [...]

Margin Debt Soars To New Record; Investor Net Worth Hits Record Low

The correlation between stock prices and margin debt continues to rise (to new records of exuberant "Fed's got our backs" hope) as NYSE member margin balances surge to new record highs. Relative to the NYSE Composite, this is the most &qu… [...]