On Wire

Breaking news, updates, and reports on current events.

U.S. Fascination With Debt Knows No Bounds

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via hedgopia Debt addiction is pervasive among consumers, corporations as well as the federal government.  Several debt-related metrics are in uncharted territories.  The craving is built into the system and can continue until markets rebel. In December, U.S. consumer credit grew 4.7 percent year-over-year to a new high of $4.2 trillion.  Last year alone, consumers added … Read more

“We cannot understand why people in the market think this economic downturn is over. The hard data give no sign of that“, HFE’s Weinberg says.

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Ouch! Developments in global export volume are not a good omen for growth in the euro zone. „We cannot understand why people in the market think this economic downturn is over. The hard data give no sign of that“, HFE’s Weinberg says. pic.twitter.com/KFtWzkTTbM — Holger Zschaepitz (@Schuldensuehner) February 10, 2020 The Baltic Dry Index, which … Read more

Bernie Sanders Won’t Commit to Releasing Medical Records After Suffering Heart Attack

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Sen. Bernie Sanders declined to tell NBC News when he’ll release more of his medical records. https://politicalwire.com/2020/02/09/sanders-wont-commit-to-releasing-medical-records/ Bernie Sanders promised to disclose his medical records. What happened? https://www.washingtonpost.com/opinions/bernie-sanders-promised-to-disclose-his-medical-records-what-happened/2020/01/04/9769ed08-2e67-11ea-bcd4-24597950008f_story.html h/t dr0id

You’ve just witnessed the greatest injection of liquidity by the Fed for a rolling 12 month period in history!

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https://twitter.com/realwillmeade/status/1226645959255433217 The S&P 500’s forward P/E ratio is at a 17-year high, @FactSet data shows. Not to worry though, it’s not like there are any unknown catalysts out there to contaminate the healthy environment pic.twitter.com/VgTZ103ixn — Rich Kleinbauer (@RMKOutFront) February 9, 2020 Fed Gov James Bullard: "…Bubbles, such as housing & Dot Com, were blindingly … Read more

Coronavirus has the potential to lead the world first into a recession and then to a global financial crisis and depression

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via gnseconomics The stages of the collapse Could the coronavirus act as a catalyst for a new global economic crisis? It certainly has that potential—but how would the crisis proceed? In the December 2018 issue of our Q-Review, we laid out the likely scenarios of an approaching global economic collapse. But, like most things in life, such a dramatic event … Read more

They’re are only two options: China is shuting down the economy just because they feel like they need a new challenge or corona is significantly worse than they are stating publicly

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They're are only two options: China is shuting down the economy just because they feel like they need a new challenge or corona is significantly worse than they are stating publicly https://t.co/LAfziDNeYU — Blume Industries CEO Balding 大老板 (@BaldingsWorld) February 10, 2020 https://twitter.com/Fxhedgers/status/1226710515692388352 https://twitter.com/choipiko/status/1226808978832687104 With the very questionable assumptions that 1) China can open everything … Read more

The 16th Amendment: How the U.S. Federal Income Tax Became D.C.’s Favorite Political Weapon

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by Sam Jacobs The American Revolution was sparked in part by unjust taxation. After all, the colonists in Boston rebelled against Britain for imposing “taxation without representation,” and summarily tossed English tea into the harbor in protest in 1773. Nowadays Americans collectively spend more than 6 billion hours each year filling out tax forms, keeping records, and learning new tax … Read more

British coronavirus ‘super spreader’ infects at least seven people as he travels from Singapore to France to UK. Whilst asymptotmatic

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Health officials are under pressure to release details of the movements of a British coronavirus “super-spreader”, amid fears that the virus is far more contagious than was thought. The unnamed businessman, who contracted the virus in Singapore, is now known to have infected at least seven fellow Britons in a French ski resort, before returning … Read more

Market Downturn? Putting Corrections Into Perspective

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by Lance Roberts Shawn Langlois recently penned an interesting article: “Despite a few notable hiccups along the way, the bull market continues to prove insanely resilient.” What was most interesting, however, was the following quote: “Current hyper-valued extremes are likely to be followed by market losses on the order of two-thirds of the value of the S&P … Read more

Mayor Pete is a phony

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HARSH BUT FAIR: Popular Vote Proponent Pete Buttigieg Claims Victory in State Where Another Guy Got More Votes: By the standard Mayor Pete has celebrated on the campaign trail, Bernie Sanders emerged victorious from the Iowa cacuses. For much of the presidential campaign, Pete Buttigieg has championed the importance of the popular vote. In a town hall nearly a … Read more

Trump assassination attempt at White House

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A man carrying a knife has been detained outside the White House in Washington, DC. He told the US Secret Service that he’d brought the weapon to “assassinate” Donald Trump. The suspect himself approached a security officer who was patrolling outside the presidential residence Saturday afternoon, and told him of his plan. “I have a knife … Read more