BOB HOYE Signs Of The Times - “Hoarding Money” - Snippet from July 21, 2017 Pivotal Events

BOB HOYE Signs Of The Times - Snippet from July 21, 2017 Pivotal Events 

“Treasury Department Asked To Investigate Reports That Russia Funneled Millions
To US Environmental Groups”
--The Daily Caller, July 7.
“Americans Are Hoarding Money In Checking Accounts”
--USA Today, July 13.
“We are in the midst of a cold civil war.”
-Carl Bernstein, Washington Examiner, July 16.
“Market Liquidity Conditions Are Still Loose As A Goose”
--Global Macro Monitor, July 16.
“There has been only one [main] buyer of stock: the companies themselves, who
have engaged the greatest debt-funded buyback spree in history.”
--Zero Hedge, July 17.

Perspective

Key headlines include the one about Americans “hoarding money”, which drives
Keynesian control freaks to despair as well as greed. If people won’t spend their
own money bad things will happen. That’s why it is good that governments spend it
on their behalf.

On corporations aggressively buying back their stock; a Reuters article observed
some time ago “Stock buybacks enrich the bosses, even when business sags”.
It’s as phony as at the height of the Dot-Com Bubble that climaxed in March 2000.
The Street had been trained to accept guidance of “earnings” that were usually onecent
below the actual report. The guidance was called the “Whisper” number. Then
when the earnings report “beat expectations” the stock would jump. Our comment
was that they had learned to whisper in a sawmill. Obviously, a rigged reporting
game but participants loved it. Until it suddenly quit working.

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