Breaking news, updates, and reports on current events.
As President Trump ramps up his reelection campaign efforts, one political strategist says if you break down the cluster of purple states the president needs to win his chances look great. One America’s Neil W. McCabe spoke with Peter Haller and has more from Washington.
By The Phoenix Breadth is starting to breakdown. As I write this, breadth are on the verge of breaking a bearish rising wedge formation. Why does this matter? Because breadth leads stocks. Throughout 2018, breadth (black line) was warning that stocks (blue line) were due to correct (red squares in the chart below). Breadth was … Read more
Dangerous Heat Wave Expands from Plains, Midwest to East into This Weekend At a Glance Hot temperatures are spreading from the Plains to the East Coast. The heat index will rise to dangerous levels in parts of those regions. This level of heat could become deadly, especially in large metro areas. Widespread daily record highs … Read more
A space station is about to fall from the sky. The Chinese station Tiangong-2 is scheduled to drop out of orbit on 19 July and fall into the Pacific Ocean between New Zealand and Chile. Tiangong-2 – which translates as “heavenly palace” – was launched in September 2016, and it was never intended to be a permanent … Read more
via townhall: “Donald Trump, by injecting himself into the Democrat’s civil war and compelling the Pelosi establishment to embrace the Squad, may have just pulled off a classic Tom Sawyer move. Rather than allowing the Democrats to reign in their extreme left flank and quell the temper-tantrum-like calls for impeachment, he has gotten the left to … Read more
via Twitter: Give the Soviet Union credit though — one place where it excelled was in getting good propaganda value from the New York Times. And that remains true even when it’s dead and gone. h/t GR
NEW YORK — Scientists say they nearly eliminated disease-carrying mosquitoes on two islands in China using a new technique. The downside: It may not be practical for larger areas and may cost a lot of money. In the experiment, researchers targeted Asian tiger mosquitoes, invasive white-striped bugs that can spread dengue fever, Zika and other … Read more
Iranian Foreign Minister Mohammad Javad Zarif has offered to immediately ratify the JCPOA Additional Protocol in exchange for the immediate removal of US sanctions. Under the original 2015 JCPOA deal, the Protocol was intended to have been ratified in 2023. Iran came up with an offer to permanently allow enhanced inspections of its nuclear program … Read more
The United States is sending 500 troops to the Prince Sultan Air Base east of the Saudi Arabian capital of Riyadh, reported CNN. Some of the troops and support personnel are already at the base preparing for a Patriot missile defense battery and runway and airfield improvements, according to US defense officials. Security assessments have … Read more
by Mike Shedlock The odds of a 50 basis point rate cut on July 31 topped the 70% mark in the wake of a dive in leading indicators. CME Fedwatch notes a huge jump in the odds of a 50 basis point cut by the Fed on July 31. This is an edited post. In the hour … Read more
by Martin Armstrong QUESTION: Mr. Armstrong, in relating your comments on weather and how the winters will spike to record cold and then the summers will spike to record highs, is this the same as a panic cycle in markets? HC ANSWER: Yes. Our computer looks at the weather the same as it does with the price … Read more
by Martin Armstrong They are calling it an unexpected contraction in Singapore’s economy which is in line with our Economic Confidence Model which bottoms in January 2020. In addition, China’s exports have also declined by 1.3% during June. Gross domestic product in export-reliant Singapore declined by a shocking 3.4% in the second quarter from the … Read more
Best-selling financial author James Rickards is not seeing a recession anytime soon. In fact, he is not forecasting a recession until after the 2020 Presidential Election. What does that mean for the chances of a second Trump Presidency? Rickards says, “If you put recession odds at 35%, and that is probably high, then the inverse … Read more
By Robert Ross Wireless technology has come a long way. The first generation of wireless—called 1G—rolled out in the 1980s. The only thing you could do with it was make a phone call. And the call quality rivaled that of two tin cans connected by a string. Since then there’s been a new generation of … Read more
BY JARED DILLIAN President Trump recently nominated Judy Shelton to the Federal Reserve Board of Governors. She is the United States director for the European Bank for Reconstruction and Development, which I had never heard of until her nomination. Shelton is a Republican and believes in the adoption of a gold standard. She currently believes … Read more
Brian Riedl @Brian_Riedl This is my favorite story of the day. Bernie Sanders’ campaign staff has unionized and is demanding a $15 per hour “living wage” and 100%-paid health care for those earning under $60k. The campaign leadership has thus far resisted. Labor fight roils Bernie Sanders campaign, as workers demand the $15 hourly pay … Read more
Iran denied Friday it lost a drone in the Strait of Hormuz after the United States said it had “destroyed” an Iranian drone that was threatening a U.S. ship. “We have not lost any drone in the Strait of Hormuz nor anywhere else. I am worried that USS Boxer has shot down their own UAS (Unmanned Aerial System) by … Read more
by Michael Snyder Could it be possible that we are on the verge of the next “Lehman Brothers moment”? Deutsche Bank is the most important bank in all of Europe, it has 49 trillion dollars in exposure to derivatives, and most of the largest “too big to fail banks” in the United States have very … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter For the 9 counties, the median price in June dropped back to June 2017 levels. Today we got the final numbers from the California Association of Realtors(CAR) about the status of the housing bubble in the nine-county San Francisco Bay Area, which includes some of the most expensive sub-markets in the US, … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter “For developers and agents in most parts of the country who rely on foreign buyers, there is really no alternative to buyers from China”: CEO of Juwei.com The puzzle in the US housing market was this: Mortgage rates have dropped since November, and as expected mortgage applications to buy homes have … Read more