Commie and Capitalist Stocks

Mon, 2017/12/04 - 3:22pm | Your editor
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The BBC reported today that more than half the voters polled in Britain want another ballot on whether or not to go for Brexit. The poll was taken before the failure of PM Theresa May to get a deal during her Brussels visit today, despite offering to pay £50 bn to cover liabilities to the European Union after Britain leaves. The talks have stumbled over the special needs of Northern Ireland which has a now un-guarded border with Eire, a member of the EU.

What makes this serious is that the current May government lacks a majority in Parliament without the votes of the Northern Irish Democratic Union Party. British shares and sterling fell in the wake of the latest mess over Brexit. Irish Taoseach (Prime Minister) Leo Varadkhar, who is half Indian and gay, expressed surprise that an exit deal reached by Britain and the EU failed to get Mrs May on board. He thinks the only region which wants a voice is Northern Ireland. But if Belfast gets its own rep over Brexit, Wales, Scotland, and England also want to have their say. The Scottish Nationalists who already want to remain if England leaves were the first to put forward a demand for parallelism, by leader Nicola Sturgeon.

Meanwhile the horror show in Yemen continues with the current strongman apparently killed by a bomb in his family compound by pro-Iranian Houthis. Wily Ali Abdullah Saleh, a former strongman ousted in 2011, made a deal with Iran to resume running the country which is being bombed by Saudi Arabia to its north trying to oust the Houthis alligned with Iran. Last week he threatened to switch sides and make peace with Riyadh. The country has cruise missiles but no way to fight cholera and famine.

 

Analyst Paulo Santos today wrote the definitive piece (in English, not Portuguese) on why Bitcoin will crash, published in seekingalpha.com/ article 4129397-bitcoin-series-7-endgame?unprof today. As I have no real knowledge of crypto-currencies I am leaving it to him to tell you why you don't want to buy into the bubble.

 

Bloomberg worries that the US asset management business is turning into a duopoly by BlackRock and Vanguard. The pair manage wealth greater than the US GNP. With the number of Exchange-traded funds now greater than that of US stocks, the power of the combined managers may hurt basic market efficiency. That is the view of the founder of Vanguard, Jack Bogle, interviewed by the website and magazine.

 

Tech is dreck again today as well. I have an alternative to bitcoin, ETFs, and marijuana stocks. Consider Commie companies. Paid subscribers should read on.

Today we have a new stock pick and a strong recommendation from on an old stock plus news from Switzerland, Sweden, Australia, Argentina, Israel, Ireland, India, China, Russia, Kazakhstan, Canada, Brazil, Mexico, Britain, Finland, Denmark, Sweden, Norway, and South Korea.

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