WASHINGTON – Several senior White House officials have begun discussing whether to push for a temporary payroll tax cut as a way to arrest an economic slowdown, three people familiar with the discussions said, revealing the growing concerns by President Donald Trump’s top economic aides. The talks are still in their early stages, and the … Read more
By Irina Slav Oilprice.com recently reported on a renewable natural gas project in progress in Vermont, a rare sort of a project that collects methane from manure and other waste. Now, another similar project has been announced—this time in Colorado. Only this one does not collect methane. It produces it from renewable hydrogen. The project is dubbed the … Read more
By ZeroHedge According to a new report from law firm Haynes and Boone LLP, bankruptcies in the upstream sector are increasing this year as energy spot prices remain subdued amid a cyclical downshift in the economy. So far, 26 exploration and production (E&P) firms have filed for bankruptcy through mid-August, with debts totaling $10.96 billion. The firm noticed … Read more
via nytimes: School days are longer and more regimented. Kindergarten, which used to be focused on play, is now an academic training ground for the first grade. Young children are assigned homework even though numerous studies have found it harmful. STEM, standardized testing and active-shooter drills have largely replaced recess, leisurely lunches, art and music. The … Read more
by Shaun Richards A feature of modern economic life is that interest-rates were first cut as close to zero as central banks thought they could and then in more than few cases they went below zero giving us the acronym NIRP for Negative Interest-Rate Policy. There was the implication that such a state of affairs … Read more
by Chris Vermeulen of The Technical Traders In this last segment of our multi-part research post regarding the US Fed and the global central banks, it is becoming evident that the fear of a further market contraction is resulting in the decrease in rates and the push for additional QE functions. Our research has shown that the global … Read more
by David Haggith via The Great Recession Blog Let’s take a look at how the average consumer is doing. I’ll call this typical consumer “Bubba” because I just read an article that claimed “Bubba’s doing better today than at any time since before the Korean War.” It disgusted me because I found it to be such a disingenuous … Read more
Germany is probably already in a recession by most metrics https://t.co/f40fWfDKRC — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) August 19, 2019 The seriousness of the current slowdown in the eurozone is put in perspective by this excellent 15-year overview from @SoberLook pic.twitter.com/FqDk4aI6qK — Adam Tooze (@adam_tooze) August 18, 2019
via @chigrl: under the prior administration US was supposed to sell from the SPR to fund a much needed upgrade>>> US study to focus on leasing, not closing, portions of SPR: sources https://spglobal.com/platts/en/market-insights/latest-news/oil/081919-us-study-to-focus-on-leasing-not-closing-portions-of-spr-sources?utm_source=twitter&utm_medium=realtime&utm_content=oil&utm_term=news&utm_campaign=webed&utm_source=hootsuite&utm_medium=twitter&utm_term=plattsoil&utm_content=6baa4bc1-ffb8-4cab-9675-3787dfd4aba1&utm_campaign=hootsuitepost
via Mark Johnston: $AMD -12.8% $WDC -27.5% $TXN -8.6% $MXIM -12.1% $LRCX -24.4% $NXPI -3.2% $INTC -2.7% $STM -4% $NVDA -17.5% $SWKS -14.2% $CY -14.7% $ON -7.4% $SIMO -28.4% $SMH $SOXX
via yragharris: The Federal Reserve just won’t admit that President Trump and the European Central Bank are holding its policy designs captive. Trump ramps up talk of tariffs in an effort to keep the financial markets uncertain while the ECB wishes to pursue an ever expanding balance sheet in an effort to reach an ambivalent inflation … Read more
Authored by Simon Black via SovereignMan.com, In the latest sign that absolutely nothing makes sense anymore, WeWork filed formal regulatory paperwork with the Securities and Exchange Commission last week, officially notifying the world that it will soon be going public. If you haven’t heard of WeWork (or it’s parent– ‘The We Company’), it’s a real estate company that … Read more
by chaney3 I’ve been largely uncertain of the claims of fraud brought against $GE and haven’t cared all that much, but have been seeing more articles with regards to it’s credit rating recently. Being the Autistic intraday trader I am I don’t care all that much for credit ratings as a metric, however once $GE … Read more
ALERT: Trump wants Fed to cut rates by full 1 percentage point-a move only considered when U.S.economy is on the brink of recession President Trump on Monday called for the Federal Reserve to sharply cut interest rates and again criticized the central bank’s chairman for a “horrendous lack of vision,” while reiterating his belief that … Read more
by WSB_Austist Warning: This is the one rare post on this sub where I’m actually going to be serious and leverage my education and experience. Will return to full spectrum Monday. Background: I’ve seen a lot of posts and talk about recessions and how to profit on them. I just want to point out every recession is … Read more
by AestheticFC There were no bear markets (20%+ drops) in both periods. Am I missing something? The biggest drops I can see are: Jul 16, 1990 – Oct 11, 1990 (-19.9%) July 17, 1998 – Aug 31, 1998 (-19.2%)
via stevenguinness2: Part way through delivering a press conference following the Federal Reserve’s first rate cut since December 2008, chairman Jerome Powell let it be known that the central bank was ‘looking carefully‘ at developing a new faster payments system. Unsurprisingly, his words on the subject proved the equivalent of screaming into the face of a … Read more
“I think if yields roll over and start slipping, we may see renewed pressure on stocks,” says UBS’ Art Cashin. Should stocks nosedive again, he says he would be watching for key levels at 26,000 on the Dow and 2,822 on the S&P 500. U.S. stocks could resume their downturn if bond yields begin to … Read more
via Zerohedge: S&P Global Ratings is now warning about $5.2 trillion in corporate debt coming due through 2024, reported International Financing Review (IFR). The $5.2 trillion includes bonds, loans, and revolving credit facilities from financial and non-financial companies in the US. It represents almost half of the global rated debt expected to mature during the period. S&P … Read more
No matter where you look, the desire for the Fed to print, Print, PRINT, is intense! The president wants it, the Socialists want it, debtors want it…The consequences of this madness are more than predictable. Great Inflation awaits, and the only thing that stands in the way is an amount of time that no one can precisely … Read more
Latest data show major Central Banks’ aggr balance sheet shrinking again, in part due to #Fed and the #BOJ, both injecting liquidity at slower pace,not enough to offset #ECB drain :act@liquidity.com for data
Most Americans live paycheck to paycheck – CNBC Nearly 10 percent of those making $100,000 or more say they can’t make ends meet. Overall, most workers said they are in debt and many believe they always will be. No matter how much you earn, getting by is still a struggle for most people these days. … Read more
Asia Exports to China (July) Japan -9.3% Korea -16.4% Taiwan -3.4% China Global Total Imports ($) -5.6%
Let’s lever up, folks. Softbank to lend $20B to CEO and employees to invest in its own fund, per WSJ. That’s more than half of the money raised for its second Vision Fund. Typical market top behavior? $SFTBY Let’s lever up, folks. Softbank to lend $20B to CEO and employees to invest in its own … Read more