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The American System

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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