"The stock market is precariously close to slipping into a landslide. If the economy and stock market both continue declining into late October, the presidential election could also turn into a landslide--against the incumbent."
"Let's consider the critical backdrops of the economy and stock market: household income and corporate profits. Market bulls like to tout rising profits as the reason the market can keep climbing higher in a global recession, but before we get too euphoric let's recall that the earnings of 90% of American households have been flat since 1970."
"All those fabulous profits were built on two now-crumbling edifices: astounding levels of household debt and a declining U.S. dollar that boosted the critical overseas profits (40% of all profits) via currency devaluation. Now that the dollar has broken out of a multi-decade downtrend and has been rising for a year, those tailwinds have turned into headwinds."
The Link
"Let's consider the critical backdrops of the economy and stock market: household income and corporate profits. Market bulls like to tout rising profits as the reason the market can keep climbing higher in a global recession, but before we get too euphoric let's recall that the earnings of 90% of American households have been flat since 1970."
"All those fabulous profits were built on two now-crumbling edifices: astounding levels of household debt and a declining U.S. dollar that boosted the critical overseas profits (40% of all profits) via currency devaluation. Now that the dollar has broken out of a multi-decade downtrend and has been rising for a year, those tailwinds have turned into headwinds."
The Link