Deutsche Bank set to cut 10K Jobs to reduce costs’ about time those lazy bankers were fired

Deutsche Bank set to cut 10K Jobs to reduce costs’ about time those lazy bankers were fired

The Journal, citing unnamed sources, reported that job cuts were likely to extend into 2019.Separately, Bloomberg News reported the bank was planning to withdraw from a number of equities markets across the globe.

The Bloomberg report, which also cited unidentified people, said that Deutsche would sharply scale back its presence in the United States, and had started cutting activities in Central Europe, the Middle East, and Africa.Deutsche Bank, which holds its annual shareholder meeting on Thursday, declined to comment. The loss-making bank said last month that it was planning to scale back its global investment bank and that equities was one of the areas it was looking at for possible cuts.A person familiar with the matter told Reuters last month Deutsche Bank was expected to cut around 1,000 jobs or 10 percent of its workforce in the United States.

It has also said that it would cut back U.S. bonds trading and the business that services hedge funds.The bank has been expected to announce further details of its reorganisation plans ahead of its AGM on Thursday. hareholders, fed up with a languishing share price and dwindling revenue, will call on the bank’s management to speed up the recovery process at the AGM.

Hans-Christoph Hirt, head of shareholder adviser Hermes EOS at Hermes Investment Management, told Reuters on Wednesday he wanted to see a “credible strategy with achievable targets.” Full story

Now they are firing to balance the books, in the near future they will be firing to get rid of the “expensive human element”. Sadly most of today’s high paid individuals get way too much for doing way too little, and AI is going to dramatically alter the landscape. Remember the equation must always balance, and the more skewed things become the stronger the blowback as the market moves back to the point of equilibrium.

Trump Administration is looking to scrap programs granting foreign entrepreneurs residence for up to five years

Trump Administration is looking to scrap programs granting foreign entrepreneur
WASHINGTON (Reuters) – The Trump administration moved on Friday to end a program that aimed to attract foreign entrepreneurs to the United States, saying the Obama-era effort did not adequately protect American workers and was an inappropriate use of government authority.
The Department of Homeland Security’s formal proposal to rescind the international entrepreneur rule, which is set to be published in the Federal Register next week, was widely expected given the administration had stated its intent to do so last year. The program would have allowed foreign entrepreneurs to stay in the United States for up to five years to manage and grow start-up businesses.

DHS said in a filing on Friday that the program represented an “extraordinary use” of the agency’s discretionary authority, that it “does not adequately protect U.S. investors and U.S. workers,” and that Congress was better placed to create a special visa for entrepreneurs.
The Obama administration established the international entrepreneur rule in January 2017, shortly before former President Barack Obama left office, with an effective date of July 2017. But last year the administration of President Donald Trump, which has moved to sharply curtail both legal and illegal immigration, delayed the program’s effective date to March 2018, while also indicating it would later rescind it entirely. Pro-immigrant groups criticized the decision. Full Story

The news follows the trend; we spoke of this when it was in its infancy (the anti-immigrant trend) and stated at the time that it had barely begun. Now it’s just warming up, so all these developments will look mild 12-24 months from now.

Health Care: Total Costs

Middle-Class Families Confront Soaring Health Insurance Costs

Middle-Class Families Confront Soaring Health Insurance Costs

CHARLOTTESVILLE, Va. — Consumers here at first did not believe the health insurance premiums they saw when they went shopping for coverage this month on HealthCare.gov. Only five plans were available, and for a family of four with parents in their mid-30s, the cheapest plan went typically for more than $2,400 a month, nearly $30,000 a year.

With the deadline for a decision less than a month away, consumers are desperately weighing their options, dismayed at the choices they have under the Affordable Care Act and convinced that political forces in Washington are toying with their health and well-being.

“I believe in the Affordable Care Act; it worked for me under the Obama administration,” said Sara Stovall, 40, who does customer-support work for a small software company. “But it’s not working as it was supposed to. It’s being sabotaged, and I feel like a pawn.”

Ms. Stovall said she might try to reduce her hours and income, so her family could qualify for subsidies on offer to poorer families to help pay for premiums.

Heather Griffith, a 42-year-old real estate broker, said she would put aside much less money for her retirement and the education of her two young children so she could pay the premiums.

Full Story

 

 

Why health care costs are making consumers more afraid of medical bills than an actual illness?

  • Health care costs are spiraling higher, but patient visits to a doctor have been on the decline.
  • A growing number of consumers are staying away out of fear of big bills.
  • However, “untimely visits or delay of visits to the physician ultimately leads to the increased cost of care,” the Cleveland Clinic’s CEO told CNBC.

As health care costs keep rising, more people seem to be skipping physician visits.

It’s not fear of doctors, however, but more of a phobia about the bills that could follow. Higher deductibles and out-of-network fees are just some of the out-of-pocket costs that can hit a consumer’s pockets.

U.S. health care costs keep rising, and hit more than $10,000 a year per person in 2016. According to a recent national poll, over the past 12 months, 44 percent of Americans said they didn’t go to the doctor when they were sick or injured because of financial concerns. Meanwhile, 40 percent said they skipped a recommended medical test or treatment.

Full Story

 

 

Your total costs for health care: Premium, deductible & out-of-pocket costs

Your total costs for health care

When choosing a plan, it’s a good idea to think about your total health care costs, not just the bill (the “premium”) you pay to your insurance company every month.

Other amounts, sometimes called “out-of-pocket” costs, have a big impact on your total spending on health care – sometimes more than the premium itself.

Beyond your monthly premium: Deductible and out-of-pocket costs

  • Deductible: How much you have to spend for covered health services before your insurance company pays anything (except free preventive services)
  • Copayments and coinsurance: Payments you make each time you get a medical service after reaching your deductible
  • Out-of-pocket maximum: The most you have to spend for covered services in a year. After you reach this amount, the insurance company pays 100% for covered services.

Full Story

Millennials: Agrihoods – Investing – Retirement

Agrihoods: The newest trend in millennial living

Agrihoods: The newest trend in millennial living

Millennials are harkening back to simpler days and creating communities on farms, surrounded by nature’s bounty and benefits. There are now more than a hundred of these neighborhoods — called Agrihoods — across the country, Full Story

This living in the nature type development is in its infancy and it’s too early to determine if it will become a trend. However, what this data reveals is that Millennials don’t have fixed values and have they are not loyal to any given brand or ideology. The next generation is going to be even more unpredictable for marketers seeking to make long-term projections.  However, unpredictability is fantastic especially for those who put the principles of mass psychology into use.  This is the reason many companies that look solid today will not be around in the years to come as they will either refuse to adapt or refuse to look at the situation from a different angle.  One area that is  going to experience a sea of change is the financial services industry.

 

Here’s why millennials would rather save than invest

Here’s why millennials would rather save than invest

Millennials are wary of entering the stock market.

New data from the latest Merrill Edge Report shows that, when asked what they’d be able to rely on in 20 years, millennials’ top response was their savings account, according to 66 percent of respondents.

When Merrill Edge asked older generations the same question, the majority of Gen-Xers (71 percent) said they’d be able to rely on their 401(k). The top response among boomers (54 percent) was their pension.

“In stark contrast to older generations who are relying on outside sources for their future financial security, millennials are looking to their self-created savings years down the line,” Aron Levine, head or Merrill Edge at Bank of America, writes in the report. “Millennials place even greater trust in their own stewardship than they do in their personal relationships with their significant other and friends.”

The report shows that young people today are taking a “do-it-yourself” approach to finance and investing, choosing to rely primarily on their own savings in place of vehicles like a 401(k) or IRA. Though many millennials do utilize these tools as well, there’s still an underlying feeling that their own efforts are more dependable.

Full Story

 

Will you have enough to retire?

Will you have enough to retire?

Methodology

This calculator estimates how much you’ll need to save for retirement. To make sure you’re thinking about the long haul, we assume you’ll live to age 92. But you could live to be 100 or incur large medical bills early on in retirement that may raise your costs even further. Social Security is factored into these calculations, but other sources of income, such as pensions and annuities, are not. All calculations are pre-tax.

The results offer a general idea of how much you’ll need and are not intended to be investment advice. The results are presented in both future dollars (at retirement) and today’s dollars, which is calculated using an inflation rate of 2.3%.

How we calculate your savings goal?

First, we determine what your income will be at the time you retire by growing your current income at an annual rate of 3.8% (the inflation rate of 2.3%, plus the salary growth rate of 1.5%). We then assume you can live comfortably off of 85% of your pre-retirement income. So if you earn $100,000 the year you retire, we estimate you will need $85,000 during the first year of retirement. For each subsequent year, we increase your income need by 2.3% to keep up with inflation. We then factor in Social Security by subtracting your estimated benefits (more on that below) since that income will reduce the amount you will need to save.

The second step is to calculate the total savings you will need at the time you retire, in order to generate enough income for each year of retirement. To do this, we determine what it would cost to purchase a fixed income annuity, with inflation-adjusted payments, using a discount rate (or rate of return) of 6%. The cost to purchase this hypothetical annuity is your target savings goal.

Full Story

Experts Making Stock Market Crash Forecasts usually know nothing

Stock Market Crash Forecasts usually know nothing

Over the past several years the Naysayers have predicted the Market would crash and burn; we blatantly disagreed and opted instead to state that the market would continue to soar higher and higher. Despite the severe beating these naysayers have taken, they insist on regurgitating the same trash over and over again in the blind hope that by some miracle their insane ramblings come to pass.  As soon as October was upon us, these experts started screaming at the top of their lungs. What was their latest prediction; a repeat of the 1987 Stock Market Crash.  We immediately repudiated these predictions. Here is a brief excerpt from the article posted in October by Tactical Investor.

They never seem to let up on pushing this sewage onto the unsuspecting masses. This is a clear example of insanity in action;  mouthing the same thing over and over again with the desperate hope that this time the outcome will be different.  The outcome will not be different this time, at least not yet. These guys should focus on writing fiction for reality seems to elude them completely. For years we have stated (and rightly so) that until the sentiment changes, this market will continue to soar higher and higher.

The latest nonsense is to state market omens that have a terrible record of coming to pass are about to trigger a crash; ones odds are better if one looks at tea leaves, plays with skull bones or hires some monkey to throw darts at a board with the words up or down plastered on it.   One has to determine the trend first and look at several underlying forces before one can attempt to predict where the market is headed. However, these fools read a book or two, memorise someone else’s theories and assume all of a sudden they are experts. Fundamentals and technical’s are both useless when used in isolation. One has to look at the emotion driving the markets. In other words, what are the masses thinking or doing? When one looks at the sentiment data, the conclusion is inescapable. Stock markets always crash on a note of euphoria and the masses are far from being happy.

Wall Street Experts Good For Nothing but Hot Air

Over the past 20 years U.S Markets have experienced two brutal crashes and on both occasions, almost all of the so-called  Wall Street experts were caught with their pants down.  The two cases in questions are the Housing bust and the dot.com bubble. Additionally, almost every two top economists failed to predict the great recession of 2008.  On the same token, these Jackasses (otherwise known as experts) failed to predict one of the biggest bulls of all time.

Masses are not embracing one of the Most Hated Bull Markets in History

The images below speak a thousand words, so there is no need for us to add any commentary.

Bullish Neutral Bearish Index

Anxiety Index

 

The Technical Outlook

Dow chart November 16th

While the Dow is trading in the extremely overbought ranges, any pullback will most likely end in the 21,000-21,500 ranges.  For the correction to pick up steam, it would need to close below this level on a weekly basis.  As the trend is still positive, the odds of the Dow crashing are very low. At the most, the Dow would test its breakout point which falls in the 18,900-19,200 ranges unless the trend were to turn negative suddenly or the masses suddenly embraced the market with gusto.  At this point, the trend is strong and showing no signs of weakening.  Remember that the markets can remain irrational for much longer than most traders can remain solvent by betting against it.

Inflation remains a non-issue on a worldwide basis

Central banks worldwide are either standing down or opting for rate cuts.  This indicates that while the economy is improving somewhat, the global economy is far from healthy and low rates will continue to dominate the scene.  In a lower rate environment corporations borrow more money and the new game is to use this money to buy back shares and in doing so magically improve the EPS.

Conclusion

When the Dow was trading below 20K, we stated that the next target was 21K; this target was struck in a few short months. After that, we raised the target to 22 and 23K.  Now we will go on record and state that the Dow is likely to test 28,000-28,500 with a possible overshoot to 30K before it crashes.  We will be providing our subscribers with an in-depth analysis of the path the Dow will traverse to achieve this target.    We don’t expect the Dow to just shoot to these targets, certain requirements have to be fulfilled, but so far the Dow is following the path we expected it to take.

Before you listen to these so-called experts who seem quite happy to dish out faulty information, take a look at their track record. A simple search will reveal that over 90% of them are full of hot air and had any of these Dr’s of Doom followed even a sliver of their advice, they would have been blown out of the game long ago. The fact that they are still here tells you that they are trying to pan their sage advice to you in return for a certain fee; advice they would never follow.

A simple game plan

View strong corrections through a bullish lens. This game plan will remain valid until the masses turn bullish or the trend turns negative.  The stronger the deviation, the better the opportunity.

 

Published courtesy of the Tactical Investor

China Seeks Foreign Help in Risky Work Finding Oil in Disputed Sea

China Seeks Foreign Help in Risky Work Finding Oil in Disputed Sea

Beijing is looking for foreign contractors to help find oil and gas under the South China Sea but expects to meet resistance because other governments contest its claims and any discoveries may bring low returns. China’s state-run China National Offshore Oil Corp. issued a tender last week for foreign companies to join it in exploring for…

Ant Financial sees rich opportunities

Ant Financial sees rich opportunities

Tim Clancy, from Australia, pays a bill with his smartphone at a restaurant in Hangzhou, Zhejiang province, on Friday. [Photo provided to China Daily] Ant Financial Services Group said on Monday it will extend its indigenous mobile payment technologies to economies along the Belt and Road Initiative and unveil a number of Alipay-like services this year.…