Anyone scalping the FTSE Futures??

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@counter_violent The Trumpmeister is better than 2:1 odds on being Pres. (9/4)


This time next year you could be a miwyonaire.

I'm not convinced he can win. There's no buzz and not enough chatter. Hard to see how he creates a momentum this late in the game.
 
All this nonsense is finally coming to an end.

WHO Flip-Flops: Urges World Leaders To Stop Using Lockdowns To Fight COVID Contagion​


 
Trump may refer to the stellar recovery of the Dow as an indication of his "A+" management of the economy but the "Trump rally" ended in 2018. The Dow has been consolidating in an increasingly volatile megaphone pattern while declining Money Flow warns of long-term selling pressure. Breach of support at 26500 would warn of another test of the March 2020 low.

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A Biden-led federal budget is likely to deliver more of the same:


  1. Further stimulus. Austerity is not an option.
  2. Rising federal debt, surpassing levels reached in WWII.
Federal Deficit/GDP

  1. More Fed QE and commercial bank purchases of Treasuries is inevitable. The Fed (and banks) are the buyer of last resort when foreign investors shun Treasuries.
  2. Negative real interest rates. The Fed will suppress interest rates to reduce Treasury debt servicing costs.
  3. Devaluation of the Dollar. The only way back from a WWII debt level is to ensure that GDP (and tax revenues) grow at a faster rate than federal debt. After WWII this was achieved by sustained negative real interest rates, leading to inflation.

Some things will be different:
 
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