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Gangs using border as recruiting hub...

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Nebraska Vexed By Secrecy in Dumping...

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LOWRY: The president's 'man-caused' disaster...

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Israel Launches Ground Operation In Gaza: Special Forces Raid Alleged Rocket Compound

Zero Hedge | Israeli ground troops have entered northern Gaza to take out a number of missile launch sites.

Thousands of Gaza civilians flee after Israeli warning

NIDAL AL-MUGHRABI AND JEFFREY HELLER | Thousands fled their homes in a Gaza town on Sunday.

Dead Palestinians Don’t Matter to Mainstream Media

Shadow forces are using conquer-and-divide tactics to pit us against each other for their own nefarious ends.

Ron Paul: The Collapse Is Close

Infowars.com | Nations like Russia and Japan could be turning to the gold standard, and the U.S. is none too pleased.

Obama calls GOP lawsuit over executive overreach a ‘political stunt’

Ben Wolfgang | Obama on Saturday unloaded on House Republicans’ plan to sue him for executive overreach.

Pentagon Correspondent for the New York Times Refers to American Citizens as “Children”

Michael Krieger | We have mediocre, control-freak bureaucrats in the mainstream media and government who see themselves as our parents.

Special Report: Radiation & the Universe

Infowars.com | Many nuclear reactors sit on fault lines or on shores at risk for tsunamis.

Illegals Released In U.S. Given Three Years Until Court Date

Kit Daniels | Court dates will only increase further into the future.

 

 

Goldman Admits Market 40% Overvalued, Economy Slowing, So... Time To Boost The S&P Target To 2050 From 1900

Submitted by Tyler Durden on 07/12/2014 - 17:24

Recall that it was Goldman's David Kostin who in January admitted that "The S&P500 Is Now Overvalued By Almost Any Measure." It was then when the Goldman chief strategist admitted there was only 3% upside to the bank's year end target of 1900.  Well, that hasn't changed. In his latest note Kostin says that "S&P 500 now trades at 16.1x forward 12-month consensus EPS and 16.5x our top-down forecast... the only time S&P 500 traded at a higher multiple than today was during the 1997-2000 Tech bubble when margins were 25% (250 bp) lower than today. S&P 500 also trades at high EV/sales and EV/EBITDA multiples relative to history. The cyclically-adjusted P/E ratio suggests S&P 500 is now 30%-45% overvalued compared with the average since 1928." And this is where Goldman just goes apeshit full retard: "we lift our year-end 2014 S&P 500 price target to 2050 (from 1900) and 12-month target to 2075, reflecting prospective returns of 4% and 6%, respectively."

Wait, what???