Time To Punish Slander And Fake News in the U.S.

Germany is proposing legislation to combat the avalanche of fake “news” by imposing heavy fines on media outlets that disseminate slanderous and defamatory material while doing nothing to try to prevent the publishing of such falsehoods. It would be the opposite of U.S. law, which basically gives immunity to the media outlets that post or carry such often malicious articles.

According to the New York Timesmajor social media firms like Facebook and Twitter may be faced with huge fines, up to $53 million, if they don’t comply with a newly proposed law by Germany’s minister of justice and

How A Big Hedge Fund Ace Lost 95%

One of the biggest hedge fund managers, Bill Ackman, considered to be one of brightest, lost over 95% in one of his largest positions, Valeant Pharmaceuticals (VRX).

He held the stock for about 3 years, while the stock plunged from $257 to $11 on March 14, 2017. On March 13, he declared he had sold his entire position in Valeant.

Why The Next Two Years Could Be Worse Than 2008

On December 16, the Fed hiked interest rates by 0.25% as widely expected. The majority of analysts had predicted that because almost every Fed official coming into the media had made the case for a hike for several months.

In other words, the members of the FOMC had made up their minds, no matter what the facts were.

I wrote in our award-winning Wellington Letter that a hike would lead to a severe reduction of liquidity, and thus a strong market plunge in 2016.

The Stock Market: Floating to New Highs

The stock market is being pushed up by forces having nothing to do with the free market. The ‘agenda’ apparently is to push the market higher, at minimum until year-end. Washington has nothing else improving except the market. And the Treasury’s PPT can continue push the stocks up until some serious selling starts. Then they may be overwhelmed.

The smartest, biggest investors are turning bearish on the market. As we wrote last month in the Wellington Letter, sometimes it pays to be ignorant of the facts and pay attention only to liquidity rather than other fundamentals.

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