The Weekly Perspective with David Morgan 6.16.17

Debt markets is awash in $9 Trillion in government debt, much of it trading at negative interest rates. Fundamental analysis is dead according to Wolf Richter. Everythiing is trading at stratospheric valuations, especially the FANG stocks. The algo's are running the show. Most of what they're trying to predict cannot be predicted with certainty. Once the selling starts, the Algo's may pile on the selling just like they piled on when it was going up. Without fundamental analysis, how can stocks stay up. Commodity prices are at major lows. Interesting times indeed. When the system thwarts honest, hard working people, the system has failed. The system just grinds them down. And from Mises, colleges degrees are becoming valueless. Students no longer think critically. Tuition is increasing but future incomes are falling. PM weekly update--range bound in a trend. A little more to go on the downside. Let's see where they go from there. Palladium blows the whistle on the LME. Palladium lease rates are going way higher. Sign of things to come? 

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