With Bitcoins going on to new – record – highs today, $5,179 and change, we will be updating our projections on the Peoplenomics side of the house Saturday.
No point to getting too carried away with things just yet: We want to see the new highs hold for a couple of days. But if they do, as expected, we will use one of our “trusty trading tools” – the BrainAmp spreadsheet to answer “How far is up?”.
The BrainAmp is a simple spreadsheet that allows us to measure an Elliott wave 1 move and from there, the BrainAmp runs out what waves 2,3,4, and 5 should be, in keeping with well-established Elliott rules. Note the markets may not follow the rules, however.
It’s important to note, however, that just because the BrainAmp runs give us an idea what to expect, there are further tweaks to this kind of financial futuring that make it interesting as a “second profession” or profitable hobby.
For example, there is trend channel analysis.
For those interested, I may get around to writing “The Peoplenomics Handbook” so newbies on the grown-up side will be able to “follow along,” better. If there’s a problem with Peoplenomics, it’s that it does take a bit of study to understand some of the charts and what they’re saying.
Speaking of which: If you have a Peoplenomics account, we are planning to begin sending out the newsletter by email in addition to the online version. A couple of reasons for this, but the main one is the charts will be crisper and it’s a lot more convenient to have it come into your email inbox than log onto the site. More about this Saturday.
Ah, the ever-popular Producer Prices/Final Demand is out from Labor just now:
The Producer Price Index for final demand advanced 0.4 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.2 percent in August and edged down 0.1 percent in July. (See table A.) On an unadjusted basis, the final demand index increased 2.6 percent for the 12 months ended in September, the largest rise since an advance of 2.8 percent for the 12 months ended February 2012.
Within final demand in September, prices for final demand services rose 0.4 percent, and the index for final demand goods climbed 0.7 percent.
Prices for final demand less foods, energy, and trade services increased 0.2 percent in September, the same as in August. For the 12 months ended in September, the index for final demand less
foods, energy, and trade services advanced 2.1 percent.
The main thing to know about producer prices is that they’re a kind of sneak-peek at what inflation is in the pipeline. More coming.
Stock futures are down 20 on the Dow…a trifling given we’re in record territory. More tax cut hype and new records should follow.
The Harvey Distraction
Have we learned anything from the Harvey Weinstein story so far? I mean anything we didn’t already know?
Like high-powered people in HWood are trying to bed anything on two legs and when it goes bad, the liberal Hollywoodians (if I can abuse the term) quickly sacrifice their own.
Why just now I was reading how Hillary Clinton is ‘appalled’ by Weinstein allegations, will donate his contributions. Gee, any foundation in particular come to mind?
The Weinstein story demonstrates how The Network‘s minions are engaged in puffery to touch people’s “hot buttons” – keep them stirred up emotionally so the brighter members of the human herd don’t have time to question the general crookedness of the way the world is really operating…
Sick, entertaining, but hardly useful gruel for the mind. In fact, I would argue there are more long-term carry values (impacts) to be found in how Pornhub is using artificial intelligence to identify, tag porn stars than this pant load of ka-ka.
The real question? Who are the powerbrokers and king-makers in the shadows behind Harvey and what does HW think about their sacrificing his career for their ends, and what might those be? That’d be an interesting question to hear answered when HW gets out of rehab in Arizona.
Nothing Left to Buy
A follow-up to Peoplenomics yesterday: We noted then that Goldman has a special unit being set up to dig deeper for M&A candidates. This follows out analysis recently where we proposed we’ve enter strange financial badlands where there’s “Nothing Left to Buy?”
And sure enough, lookie here: Another outfit is facing the same issue as JPMorgan gets boost from lending as trading slumps.
Greater Fool Theory
If Ure scratching Ure head (as I often do) the state of the world this week comes down to this:
Markets and Bitcoins are going up like there’s no tomorrow. Yet there seems little -or no – basis for higher valuations… So we conclude we are in one of those odd historical moments when markets are simply looking for Greater Fools to pay ever-higher prices.”
I questioned my thinking on this. But then? I looked at some of the content coming from Fox (“Alec Baldwin reportedly spotted having a meltdown in NYC streets“) and CNN’s report that “Putin gets a new puppy for his birthday” along with BBC’s “How to control your television with any object” (we hammers work…) and there arose our reluctant conclusion:
If the market’s ultimate high is dependent on the number of fuzzy-thinking people available to fill the Greater Fool role (buying at the top) then the market could go much, much higher for this simple reason:
The data suggests the supply of Greater Fools is now, essentially, unlimited!
That’s reassuring, ain’t it?
The Network’s Block for Brexit
Please pay close attention to this story: EU’s Barnier: no major progress in Brexit talks, stuck on money. Hardly surprising, though.
Sadly, it’s more than that. Here’s the real-deal – near as we can figure it – for Brexit:
- The people of the UK want the hell out.
- The leaders of the UK, being bought and paid-for minions of The Network don’t want them to leave. So they are throwing up every cockamamie scheme they can to stop them.
- The power piglets of Brussels also know that if you control a nation’s money, you have ’em by the nuts. They learned from the hijacking of banking in America (thanks, Woodrow Wilson) when coupled with an income tax (thank Wilson, again) that you can steal the public blind by continuously watering-down the purchasing power of the people’s money.
The one US dollar of 1913 will now buy 3.9-cents worth of real goods. It’s how steak dinners went from $1 in 1913 to $27 now. Prices didn’t go UP – that’s the Big Lie.
Money got WATERED DOWN.
This – mark my words – if the real battle in Brexit. The Network and it’s minions want to keep the power to “make up money” and thus remain an unrepresentative super government.
The hip-shot will be to foster the illusion that Brexit has worked and the People have their say, but it’s not going to happen.
It’s like the public financing of massive sports complexes in America. Many would never have been built, you know, because people said
“No! We don’t want taxpayer-underwritten bonding spent to subsidized the rich boy’s club’s toys.””
But what happens? End runs by the minions around the voter’s will and that’s the end of the “public’s role.” We is disposables, bubba.
Europe is about to get a taste of the same thing.
The dimly alert will have noticed already that something’s amiss in Catalonia. The people there want out from under Spainish domination, but is Spain listening? No.
In background we read in the LA Times overnight how Spain gives Catalan separatists deadline to back down on independence or face deposing of regional government.
Our money is still on Second Spanish Revolution. Inquisitors II versus the Freemen.
Spain pretends to be trying to “negotiate” is the headline (minion-spin). But these global attacks on sovereign peoples aren’t anywhere near a negotiation.
What they are, in fact doing, is trying to cobble an agreement on AN ILLUSION that can be packaged and sold to the dumb folks – the Greater Fools of unlimited numbers who get their news from social media, which is like getting a ham sandwich from a urinal…
Ah, but so goes the world.
Our forecast is that the mental fog will intensify until we’re all broke. Then clear thinking will make it’s painful reappearance.
Because humans really are stupid and live to the rule: Semper Obliviscar! They “always forget.”
As goes the world, so goes we for coffee. Mor’on the Morrow! ViseGrips, anyone?