The July publication of the Daily Chronology of Global Markets and World Economics 2015-07 is available through Amazon (AMZN). The Nasdaq Composite prints a new all-time record higher fueled by hot-shot stocks such as FB, NFLX, AMZN. The new record highs in the stock market are coming with fewer and fewer stocks participating which is a worrisome sign for the economy. The Chinese communists are dealing with an ongoing stock market crash by halting trading in stocks. The chronology explains the daily economic and market drama around the globe.
The Greece bailout drama is resolved in July with a complex solution that has yet to play out. The June and July chronologies explain the daily Greece bailout drama in detail with information not available anywhere else. Many interesting quotes are provided in the chronology by the various participants such as the colorful former Greece Finance Minister Varoufakis, Prime Minister Tsipras, ECB President Draghi, IMF Managing Director Lagarde and German Chancellor Merkel and Finance Minister Schaeuble to name a few.
The choppy sideways action in the US stock market continues all year long. The Federal Reserve continues to play coy about when the first rate hike will occur with less than one-half of market participants expecting a September hike, about 70% expecting a hike by the of the year and 30% expecting the Fed to not move until early 2016. There is no wage growth in America and inflation, that the Fed and other central bankers attempt to create with obscene Keynesian money printing, cannot exist without wage inflation.
Global central bankers continue pumping stocks higher especially the ECB and PBOC. The PBOC is trying to stop the stock market crash in China but stocks continue leaking lower. Average Chinese citizens have placed their life savings in stocks chasing the parabolic rise and are now receiving their heads on a platter; many have lost their entire life savings.
The Middle East remains in chaos with the US reacting to events without any cohesive plan or foreign policy in place. The Holy War waged by ISIS Islamist radicals against Christians and Jews continues. Social unrest and wars continue around the world. Ukraine fighting is ongoing despite the ceasefire. ISIS Islamist radicals are performing genocide against Christians and Jews while the world looks on. Turkey joins the fight against ISIS but at the same time Turkish troops are fighting Syrian Kurds, and visa versa (both are fighting ISIS but also fighting each other).
The chronology records economic history in real time preventing revisionist tampering in future years. Many of the same asset managers telling everyone to go long the market in 2007-2008 are repeating the same mantra these days. Most managers are maintaining SPX targets this year at 2200, 2300 and higher. Their quotes and words are recorded. Perhaps they are correct with their market cheer leading; perhaps they are not. If a multi-year top prints during the weeks ahead, the chronology serves as the most accurate accounting of the stock market topping process. The chronology is the most reliable and easy to understand source explaining global markets.
As always, all monthly publications are available from the links in the left margin or simply searching on Amazon. The monthly publication contains updated information not posted on the web site as well as clarifications and refinements to the daily blog text.
We are living through historic stock market and economic times. The daily chronology is the most accurate accounting on how a potential epic stock market top forms in real-time. The monthly publications are compatible with most electronic devices and include an extensive Business Acronym List and Ticker Symbol List. The Acronym List is the most comprehensive business-related list available on the internet. The chronology is not available in hard copy and only distributed around the world electronically.
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