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The American System

Jan 2019

December 31, 2018

January 1, 2019

Trump Bear Market Provides Early Hangover For Stockholders!

U.S. Stocks Complete Worst Year in Decade With Biggest December Losses Since 1931; S&P Down 14% From Highs, 6% For Year; NASDAQ in Bear Market; Packing of Trump Cabinet Cannot Save Goldman Sachs from 35% Loss; Weakness of Banks Is Ominous For 2019; With Trump Lie Count At 6,420, Fewer on Wall Street Believe His Upbeat Tweets Hyping Talks With China; In Yet Another Signal Piece, Finance Maven Roubini Paints Don As Dr. Strangelove Engaged In Mutually Assured Destruction on Trade; Tax Cuts and Deregulation No Longer Enough to Maintain Support of Wealthy; Happy New Year to Our Listeners Around the World