Breaking news, updates, and reports on current events.
by Shaun Richards Over the weekend there was a flurry of news from my old employer Deutsche Bank. We knew that something was afoot and investigated the situation on the 17th of June. Deutsche Bank is preparing a deep overhaul of its trading operations including the creation of a so-called bad bank to hold tens … Read more
A low pressure system that developed over Tennessee and moved south into Alabama and Georgia is likely to strengthen into a tropical depression or storm during the next five days, the National Hurricane Center said Monday. The trough had moved south into central Georgia by Monday morning and is forecast to move further south toward … Read more
Flood the Swamp: D.C. Gets Pelted By Furious Rainstorm and the Videos are Just Bonkers It’s an extremely rainy Monday in Washington D.C., and commuters are reporting that the water levels have gotten so intense that multiple stops on the Metro rail are getting flooded at an alarming rate. The National Weather Service declared a … Read more
https://www.documentcloud.org/documents/6184408-U-S-v-Jeffrey-Epstein-Indictment.html Watch Live: Epstein Prosecutors Hold Press Conference Update: Prosecutors are holding an 11 a.m. press conference to discuss the case. Watch below: *** Prosecutors unsealed an indictment against billionaire financier Jeffrey Epstein, revealing two counts of child molestation involving “dozens of minor girls” as young as 14 between 2002 and 2005 in New York … Read more
https://www.youtube.com/watch?v=2p1No-i0izo Rain-triggered floods ravaged east China’s Fujian Province, submerging villages and affecting thousands of people. Preliminary statistics show that nearly 200 houses and over 20 bridges were damaged, while seven other bridges collapsed.
via NYPOST: President Trump blasted Fox News on Twitter Sunday night — saying the news giant “is now loading up with Democrats” and “even using Fake unsourced New York Times as a ‘source’ of information.” “Watching @FoxNews weekend anchors is worse than watching low ratings Fake News @CNN or Lyin’ Brian Williams,” Trump tweeted. “(Remember when … Read more
via Yahoo: The families of the 14 Russian servicemen who died after a fire broke out on a nuclear submarine have reportedly been told that their relatives averted a “planetary catastrophe” before they passed away. A high-ranking military official is said to have made the comment at a funeral for the crew in St Petersburgh days after … Read more
Well , This is Very Interesting…. My Family and I are On a Service Called Freedom Mobile , It’s a Cheap Service , Not the Best Coverage but for $120.00 Canadian we have 4 Lines And 8g Data..So willing to live with Spotty Service In Remote Places. It has been down Pretty much ALL DAY.ahhh … Read more
Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, President Trump nominated Judy Shelton to a board seat on the Federal Reserve. Shelton has been garnering a lot of “buzz” because of her outspoken and alternative stances, including “zero interest rates” and a “gold standard” for the U.S. dollar. But, Shelton is full of inconsistent and incongruous views on monetary policy. For … Read more
Authored by Andrew Sheets, chief cross-asset strategist at Morgan Stanley Over recent weeks, you’ve heard us discussing why we think investors should fade the optimism from the recent G20. Why we think bad data should be feared rather than cheered because it will bring more central bank easing. Why we think the market is too optimistic on … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Oh, it’s here alright. With all this central-bank money printing and zero-interest-rate policies and negative-interest-rate policies, and central-bank liquidity injections, with all these loosey-goosey monetary policies around the globe, why are we not seeing huge bouts of inflation? (12 minutes)
by Charles Hugh-Smith The more extreme the speculative euphoria, the greater the risks of a reversal. One sentence sums up the speculative euphoria gripping markets: January and June of this year are the only months in the last 150 which have seen all assets post a positive total return. (Zero Hedge) When every asset from bat guano … Read more
by Michael Snyder For years, scientists have been warning us that the San Andreas fault is “locked and loaded” and could potentially “unzip all at once”. Of course the two large earthquakes that we just witnessed in southern California were not along the San Andreas fault, and we should be extremely thankful for that. Because they happened in … Read more
Greg Mannarino, founder of TradersChoice.net, says the only thing you can count on in this economy is more debt being created. Mannarino says, “World central banks’ power exists in one thing, and that is their ability to issue debt. The more debt they issue, the stronger they become. So, they are loving this.” Mannarino says … Read more
via upfina: The May monthly construction spending report was very bad as it was down 0.8% monthly and 2.3% yearly. The weakness is in residential construction, specifically, in single family residential construction. Residential construction spending fell 11.2% yearly. Single family spending fell 7.6% and multi-family spending was up 9.3%. Single family housing has become unaffordable which is … Read more
Authored by Lance Roberts via RealInvestmentAdvice.com, Quick Takes Market While the market rallied last week and continues to flirt with all-time highs, not surprisingly, volume was exceedingly light because of the July 4th holiday on Thursday. As Carl Swenlin noted: ” SPY has formed a bearish rising wedge, and the VIX penetrated the upper Bollinger … Read more
via valuewalk: Well-known surveys from firms like Bank of America Merrill Lynch suggest most investors don’t expect a recession until next year at least, but Stanley Druckenmiller warned in a recent interview that some less-obvious warning signs are starting to appear. He also noted that the Federal Reserve seems to be so focused on deflation, which he calls … Read more
Wall St. For Main St., Released on 7/5/19 Jason talks about according to official US government economic data how this is the longest economic expansion in US history breaking the past record of 120 months. Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company … Read more
