1.U.S. Households Net Worth to an All-Time High.
https://www.guggenheimpartners.com/cmspages/getfile.aspx?guid=8db18c30-ea6a-4b35-9e5f-cc00f7bba3df
https://www.guggenheimpartners.com/cmspages/getfile.aspx?guid=8db18c30-ea6a-4b35-9e5f-cc00f7bba3df
Source: @JohnKicklighter
Barrons Story
The Bad News Buck
The dollar has declined against every major currency in 2017, and is down 11% against the euro, 6% against the yen and 5% against the pound sterling.
The buck has declined against every major currency in 2017; it’s down 11% against the euro, 7% against the yen, and 5% against the pound sterling. This boosts U.S. exports, pads the buying power of visitors, and has widespread impact in the stock market: Technology companies’ strong sales, nearly 60% of which are earned abroad, look even stronger when translated back into dollars. The 50 stocks in the Standard & Poor’s 500 index with the most overseas revenues surged 13.8% in the first half, versus 1.3% for the 50 with the most domestic sales, notes Bespoke Investment Group.
http://www.barrons.com/articles/the-bad-news-buck-1502505659
https://www.bespokepremium.com/think-big-blog/
See my blog post on comparisons to 1999
This long-running hot streak in the tech sector has led to forecasts of another 1999 bubble. It has sparked future doom from a host of soothsayers, who have been waiting for their gloomy predictions to come true since the global financial crisis ended in 2009. Since the crisis, today’s Wall Street Masters of the Universe are not the traders popularized in Michael Lewis’s original book “Liars Poker.” Nor are they the superstar investment bankers of the Internet boom. Instead, they’re a bunch of unknown hedge fund managers that predicted a crash in 2008 and made a fortune in its aftermath. Since that event, headline grabbers on Wall Street have shifted from tireless cheerleaders of the rising bull market to pessimists predicting the next crash.