The Morning Call--A Clear Sign Of Insanity
The Morning Call
1/15/21
The Market
Technical
Thursday in the charts.
Fundamental
Headlines
The Economy
US
December retail sales fell 0.7% versus expectations of being flat; December PPI was +0.1%versus +0.2%.
International
November UK industrial production fell 1.0% versus estimates of +0.5%; November GDP fell 2.6% versus -5.7%; November manufacturing production was +0.7%, in line; November construction output was -1.4% versus -8.1% and the November trade balance was -L5 billion versus the October reading of -L2.3 billion.
Other
The stimulus is stimulating.
https://thereformedbroker.com/2021/01/14/surprise-surprise-the-stimulus-is-actually-stimulating/
Credit card data show new stimulus backed spending spree.
Global economy enters double dip recession.
Update on seven high frequency economic indicators.
https://www.calculatedriskblog.com/2021/01/seven-high-frequency-indicators-for_11.html
The Fed
Talk of tapering is just talk.
https://blogs.uoregon.edu/timduyfedwatch/2021/01/13/talk-of-tapering-is-just-talk/
But there is a paradox in tapering talk.
https://www.zerohedge.com/markets/rates-rhetoric-tapering-paradox
Fiscal Policy
The failure of the college loan program.
https://americanconsequences.com/the-failure-of-the-college-loan-program/
China
What trade war?
The coronavirus
US coronavirus hospitalizations decline for first time in months.
The benefits of taking zinc in fighting the virus.
Bottom line. A clear signal of insanity (must read).
https://compoundadvisors.com/2021/a-clear-signal-of-insanity
News on Stocks in Our Portfolios
What I am reading today
A word of caution on bitcoin.
https://www.advisorperspectives.com/commentaries/2021/01/13/bitcoin-magic-internet-money
Another disbeliever.
https://marker.medium.com/the-bitcoin-dream-is-dead-8b621d2d7dbd
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