Breaking news, updates, and reports on current events.
Soros launches super PAC for 2020 Democratic megadonor George Soros is creating a super PAC, called Democracy PAC, to serve as a hub for his 2020 election spending. Soros has so far put $5.1 million into the PAC, according to paperwork filed with the Federal Election Commission on Wednesday. His $5.1 million contribution was the … Read more
by Evangelina Video is 9:52 Warning you may need dramamine PART II PART III PART IV PART V
by Simon Black It was probably after 2am last night when I walked up the stairs to bed after a marathon seven hour dinner. But that’s pretty normal here. This is the eighth year in a row I have spent my summer holiday at this 400 year old villa in the Italian countryside. I invited a … Read more
Peak Prosperity, Released on 8/7/19 One way or another, we’re going to have to address the $trillions of outstanding bad debts. Over the past decade, the world’s central banks have distorted the price of money by bringing interest rates to record lows. With credit so cheap, asset prices have risen dramatically as companies and governments … Read more
by Fabius Maximus Summary: Mass murders are sad but relatively small problem. Political violence is an endemic problem, as American as apple pie. Its dark force has often shaped American history, and will again in the future. Unless we stand together to fight it. “A firm union will be of the utmost moment to the peace … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter And rideshare revenue is stagnating. Uber’s losses have been legendary for years, ever since they were being leaked to the public while it was still a privately held company. But this takes the cake. Uber reported this evening that it had lost $5.24 billion in the quarter through June 30. The thing is, … Read more
BREAKING: Man armed with AR-15 kills 2 in rush hour traffic in Houston, Texas. https://t.co/g0gd0lO23n — Brady | United Against Gun Violence (@bradybuzz) August 9, 2019 HOUSTON, Texas (KTRK) — As police search for the suspects who killed two men with an AR-15 on the East Freeway in the middle of rush hour traffic, Jacinto City … Read more
by Michael Snyder Will 2019 continue the trend? The other day I was talking with a close friend, and he pointed out to me that all throughout history years that end in 9 have tended to be times of great change and upheaval. I was intrigued by what he shared with me, and so I … Read more
https://www.youtube.com/watch?v=bITVzFcB29I
By Jared Dillian Interest rates are currently low. That is by far the biggest concern among bond investors. They are drowning in worry about low interest rates and their effect on bonds. So let’s address that. Saying interest rates are currently low is another way of saying that bonds are expensive—which makes people not want to invest … Read more
By John Maudlin The world is awash in debt. While some countries are more indebted than others, very few are in good shape. The entire world is roughly 225% leveraged to its economic output. Emerging markets are a bit less and advanced economies a little more. But regardless, everyone’s “real” debt is likely much bigger, since … Read more
by Michael Snyder Does China believe that we are on the verge of a major global crisis? The communist Chinese government has always been very big into planning, and it appears that they have decided that now is the time to hoard food, gold and other commodities. Of course in recent days the fact that … Read more
via Zerohedge: US equity markets are tumbling after hours following reports from Bloomberg that, according to people familiar with the matter, The White House is holding off on a decision about licenses for U.S. companies to restart business with Huawei after Beijing said it was halting purchases of U.S. farming goods. American businesses require a special license to supply … Read more
PITTSBURGH — A woman was fatally stabbed in the neck Thursday morning at a downtown bus stop, right in front of a Pittsburgh police officer who had been checking on the woman’s well-being at the time, police said. The unidentified attacker also stabbed a bystander walking near the bus stop before he was subdued and … Read more
via CNBC: Uber shares dropped around 10% after it reported disappointing second quarter earnings, with losses exceeding $5 billion. Revenue came in light, at $3.17 billion for Uber in Q2 2019, versus $3.36 billion expected. “No doubt in my mind that the business will eventually be a break even and profitable business,” CEO Dara Khosrowshahi … Read more
by LV When a horse race is fixed like a merry-go-round, it is apparent to the most inebriated observer in the racetrack grandstands. No binoculars are necessary to see through the charade. A merry-go-round fix is the most brazen scam that can occur at a racetrack. When the horses leave the starting gate, they line up … Read more
Submitted via IMF Blog Following a period of escalating prices, Canada’s housing market is cooling. Measures designed to strengthen financial stability such as more stringent tests of borrowers’ ability to repay their loans, along with higher interest rates, combined to make mortgage financing more expensive. As a result, residential mortgage credit slowed to just 3.4 percent annual growth … Read more
https://www.cnbc.com/2019/08/08/robinhood-gets-fca-approval-to-launch-stock-trading-app-in-the-uk.html?&qsearchterm=robinhood Robinhood has been granted broker authorization from the U.K. Financial Conduct Authority. It’s been building out a team in London led by former TransferWise executive Wander Rutgers. Recently valued by investors at $7.6 billion, the company claims to have 6 million users in total.
https://www.bloomberg.com/news/articles/2019-08-08/u-s-rushes-to-ready-new-china-tariffs-as-companies-fret-damage?srnd=premium The Trump administration is rushing to finalize a list of $300 billion in Chinese imports it plans to hit with tariffs in a few weeks’ time, as U.S. companies make a last-ditch appeal to be spared from the latest round of duties. President Donald Trump’s announcement last week on adding a 10% tariff as … Read more
via Alastair Williamson: The Drop in Yields Is Getting Scary, Writes Peter Boockvar GERMAN 10 YEAR BUND YIELD. Commerzbank stock. Gold in orange, the dollar amount of negative yielding bonds. Rate cut recap last two days so far India 35 bps New Zealand 50 bps Thailand 25 bps Phillipines 25 bps Serbia 25 bps