Breaking news, updates, and reports on current events.
by WARREN MOSLER Light vehicle sales peaked a while back: Been helping to support the $US: Eurozone Retail Sales Fall Unexpectedly Retail trade in the Euro Area fell 0.3% in May, following a 0.1% drop in April and missing expectations of a 0.3% growth, as sales declined for all main categories. Among the bloc’s largest … Read more
by Lance Roberts Factory new orders are down year-over-year and barely afloat excluding transportation. Inventories are a concern. The monthly report on Manufacturers’ Shipments, Inventories and Orders, shows strong signs of a manufacturing sector that has peaked. New Orders New orders for manufactured durable goods in May, down three of the last four months, decreased $3.1 billion … Read more
by Martin Armstrong QUESTION: You said the “crash is in the debt markets”. Can you please explain how that will evolve? Liz M. ANSWER: Once upon a time before 1971, there used to be a difference between debt and cash. Government bonds were not acceptable for collateral. You could not borrow against them. You had to … Read more
by Martin Armstrong Christine Lagarde will replace Mario Draghi come the end of his term. Of course, the IMF has not been entirely supportive of Draghi’s policies. But she is predominantly a lawyer and does not have the experience in how markets function (reliable internal sources). She has no idea of what she is walking … Read more
by independenttrader Over the last year, dollar was doing very well, which limited increases in gold prices. However, temporary weakness of the American currency was enough for that metal to immediately rise to its 6-year high. Resistance defeated As a reminder: after soaring to all time high in 2011, gold cost 1950 USD. In the … Read more
Watch the latest video at foxnews.com The 9th Circuit Court of Appeals on Wednesday upheld an injunction barring the Trump administration from repurposing approximately $2.5 billion in Pentagon money to the Department of Homeland Security to build a border wall with Mexico, prompting the White House to promise an immediate appeal. A divided three-judge panel on the appellate court … Read more
BY PATRICK WATSON Investors are in a buying mood despite many economic warning signs. Why? For some, it’s because they expect the Federal Reserve to cut interest rates and otherwise “stimulate” the economy. They believe (correctly) it would drive stock and real estate prices higher. At the risk of stating the obvious… higher asset prices … Read more
by John Ward As BoJo rails against punishing sin (as you’d expect) Tom Watson has landed the lead role as Nanny in the End of the Pier Show, the Met Police has a Facebook disaster on its hands, and the EU has appointed a quadrangle of three-time losers to its top jobs. The only person now … Read more
Authored by Michael Krieger via Liberty Blitzkrieg blog, As Americans head off to Independence Day celebrations, they’ll be greeted with a plethora of headlines about record highs in the U.S. stock market. What I find most interesting about the latest bout of exuberance is the fact that priced in gold, stocks remain far below last fall’s … Read more
by visualcapitalist The economist John Maynard Keynes famously called gold a “barbarous relic”, suggesting that its usefulness as money is an artifact of the past. In an era filled with cashless transactions and hundreds of cryptocurrencies, this statement seems truer today than in Keynes’ time. However, gold also possesses elemental properties that has made it an … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Carmageddon for cars. But big equipment is hot and gets pricier. Ford waited until today to report its second-quarter new-vehicle deliveries in the US. So now we know what happened to total US auto sales in the second quarter and in the first half this year, and it wasn’t pretty. New-vehicle … Read more
by Egon von Greyerz Don’t let your bank hold your gold. They might not find it. A gold investor told us recently that his Swiss bank had moved the client’s gold from the bank’s safe to a private vault in the name of the bank, in Zurich. The client was aware of this move. But … Read more
via nypost: For the haters, it’s open season on the American ideal. Colin Kaepernick doesn’t like today’s American flag because it reminds him of police brutality and he doesn’t like Betsy Ross’ O.G. flag because it reminds him of slavery. I’m starting to think maybe Colin Kaepernick is not so fond of the flag, or of … Read more
Vietnamese-Americans tell us why Trump needs to be elected in 2020. AC
GET WOKE, GO BROKE? Mad Magazine to Effectively Shutter After 67 Years: The beloved satire publication will no longer be sold on newsstands after the August issue, and future editions will no longer feature new content and instead shift to previously published material — with new covers. MAD Magazine, the irreverent and highly influential satirical magazine that gave … Read more
DOJ reverses, says it’s trying to find ways to include citizenship question on 2020 census A lawyer with the Department of Justice (DOJ) said Wednesday that agency officials have been ordered to determine whether there is a way the administration can include a citizenship question on the 2020 census, hours after a tweet from President Trump raised confusion over … Read more
BRITISH Royal Marines have stormed a super tanker off the coast of Gibraltar after suspecting it of carrying crude oil to Syria in a breach of European Union sanctions. In a statement, the Government said it had reasonable grounds to believe the Grace 1 vessel was carrying its shipment of crude oil to the Banyas … Read more
The economy is contracting. We have seen this all throughout 2018 and it still persists in 2019. Take a look at the imbalances that have formed. Manufacturing down globally, stocks rise. Jobs numbers come out and they were lower than expectations, stocks rise. Bond market screaming warning signals, stocks rise. Somehow this feels like … Read more
