Roth Recharacterization Is No Longer Allowed
With the passage of the Tax Cuts and Jobs Act (TCJA) of 2017, recharacterization of a Roth Conversion is no longer allowed. This begins with tax year 2018. Briefly, recharacterization of a Roth conversion is (used to be) useful if you wanted to undo a Roth conversion sometime before your tax return is filed for […]
Fallen Angel Risk Realized: ECB Liquidates Entire Steinhoff Position
Remember that piece of sh*t Steinhoff position the ECB had on its books thanks to CSPP? That would be the one we wrote about last month in “Fallen Angels And Draghi’s Steinhoff Demons.” Amid questions about whether Steinhoff’s trials and tribulations underscore the inherent danger in the central bank’s corporate bond buying program, Draghi defended CSPP has […]
The Conspicuous Rush To Import
According to the Census Bureau, US companies have been importing foreign goods at a relentless pace. In estimates released last week, seasonally-adjusted US imports jumped to $204 billion in November 2017. That’s a record high finally surpassing the $200 billion mark for the first time, as well as the peaks for both 2014 and 2007. […]
The Ratio Of Part-Time Employed: December 2017
Let’s take a close look at the latest employment report numbers on Full and Part-Time Employment. Buried near the bottom of Table A-9 of the government’s Employment Situation Summary are the numbers for Full- and Part-Time Workers, with 35-or-more hours as the arbitrary divide between the two categories. The source is the monthly Current Population […]
Seagate, Western Union Links To Ripple In Focus As Cryptocurrency Tumbles
As top three cryptocurrencies Bitcoin, Ethereum and Ripple all tumble, Seagate Technology (STX) and Western Union (WU) are in focus due to their links to Ripple Labs. SEAGATE’S RIPPLE HOLDINGS: Seagate invested in both the 2015 $28M Series A and 2016 $55M Series B fundraising rounds conducted by Ripple Labs, developer of digital asset and […]
EUR/USD To 1.19
The worst performing currency today was the euro, which dropped well below 1.20. The single currency had been under pressure throughout the NY trading session and ended the day near its lows. This suggests that we could see a deeper slide down to 1.19. The sell-off was driven by the recovery in the U.S. […]
Credit Card Debt Hits All Time High As Consumers Unleash Historic Shopping Spree
It’s official: the reason behind the recent rebound in the economy can be explained with two words: “charge it.” Readers may recall that one month ago, we reported that with Republicans in Washington on the verge of passing their first major piece of legislation in the form of comprehensive tax cuts that will allow Americans […]
E My 2018 Forecast
The Dow advanced 2.3 percent in the first five days of the year. Historically, that’s a good sign. When the Dow is up during the first week, the market continues to advance for the rest of the year about 80 percent of the time. What are our 2018 expectations? Read on. In 2016 value stocks […]
The Incredibly Easy Way To Boost Your Gains By 1,900%
About a month ago I spotted a little-known opportunity for profit. The play involved an outfit that had been mismanaged for years, but still had a lot of underlying value. They were due to choose new leadership in mid-December. The outgoing board had their slate; the reformers had theirs. I gambled that shareholders would go […]
