Manage episode 217833907 series 1165508
Our FEATURE today focuses on the coming financial crisis we discussed last week and the new evidence just received that overwhelmingly supports this theory. Specifically, Daniel Arbess stated that "A debt crisis takes place when markets underwrite and buy too much bad debt". The title of an article in the Sept 19th edition of the Wall St Journal is "OFFERING SHOWS APPETITE FOR RISKIER DEBT". Blackstone Group raised $13.5 Billion in financing to acquire a 55% stake in Thomson-Rueters unit which is one of the largest sales of speculative debt. The authors go on to say that this financing is "reminiscent of deals seen in 2006 and 2007". The debt is rated B-. We also discussed the corp stock buy backs and how this $ 1 trillion in cash has provided a massive boost to share prices. Regulators announced this week that there will be a "FREEZE" on buy backs beginning October 5th. A sure sign that some officials are concerned about market imbalances. Other topics include: The "Lend & Pretend" Puerto Rico bonds, The "Triumph of the Pessimists", A Black Swan you'll want to know, No man is an island except the US, Hi Ho Silver, An in or out Sessions, Obama running for president, Trump is complicit in Florence, The American Standard of Due Process is upside down and "Chrissy Ford's Yearbook". "Disclaimer: This commentary is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of this date and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources are believed to be reliable but not guaranteed. Past performance is not indicative of future results. H. L. Quist is an Investment Advisor Representative."
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