Michael Shedlock's picture

The idea that technology is a tax on anyone is ridiculous. Technology always has, and always will enhance quality of life, with the exception of war-mongering technology. What is clearly a regressive tax on the poor is central banks' efforts to force inflation in a deflationary world.

Puru Saxena's picture

The global economy is slowing down rapidly and it is conceivable that the developed world may face a recession next year. Already, the Japanese economy is contracting and even Europe is barely growing. Across the pond, the US is still muddling through but the leading economic indicators and...

Andrew Zatlin's picture

China drove the recent economic boom, just as it is behind the recent malaise. A turnaround in Chinese demand would certainly change things but the current data does not look promising. For China’s trade partners, it means recession today. Only Germany and the US look...

Urban Carmel's picture

It's true that corporations buying their own shares (buybacks) represents a large source of demand for equities and have helped push asset prices higher. But much of what is believed about buybacks is a myth. There is much more to share appreciation than buybacks. EPS growth is overwhelmingly...

Marc Chandler's picture

The January Brent oil futures contract has broken down in the last 48 hours to approach its late-August lows. It has fallen a little more than 10% over the past week. The January light sweet crude contract is also headed south, falling about 12% since the recent high on November 3. It too has...

Kurt Kallaus's picture

While factories are a minor portion of employment and income, even this weak sector is being overly maligned by a healthy cooling of the energy sector. Cheaper petroleum and commodity prices have definitely subdued the manufacturing sector, but will boost longer term...

Roberto Aguilera's picture

Oil price rises over the past 40 years have been truly spectacular, but the recent fall is probably here to stay, thanks to increasing production. We discuss these trends in our new book, The Price of Oil, published this month.

Charles Hugh Smith's picture

To the degree that serfdom is political powerlessness and near-zero access to the processes of accumulating productive capital, super-welfare guaranteed income for all is simply serfdom institutionalized into a Hell devoid of purpose, pride, meaning, community and positive social roles.

Urban Carmel's picture

3Q financials have been predictably poor, with negative growth in both sales and EPS. Sales growth has been affected by a 50% fall in oil prices and 15% rise in the trade-weighted dollar. Both of those are likely to make upcoming 4Q financials look bad as well.

Sheraz Mian's picture

China’s inflation reading came in a tad cooler than expected, spotlighting the persistently weak demand conditions in that country that have been a worry for the markets lately. The country’s consumer price index increased +1.3% for October from the year-earlier...