Breaking news, updates, and reports on current events.
via Dailycaller: The Trump administration is slapping fines on illegal immigrants who are ignoring court orders to leave the U.S. — one of them totals nearly half a million dollars. “It is the intention of [Immigration and Customs Enforcement] to order you pay a fine in the amount of $497,777,” read a June 25 ICE … Read more
by Martin Armstrong The Reserve Bank of Australia has cut the official cash rate for the second month in a row to 1%. As we head into the turning point of the Economic Confidence Model come January 2020, the unemployment rate increased to 5.2% in April. GDP growth remains very low at 0.4%, wage growth … Read more
by Martin Armstrong Civil unrest is continuing to rise in Hong Kong after crowds of mask and helmet wearing demonstrators fled the area to escape hundreds of riot police firing tear gas. The entire issue has arisen from Lam’s government pushing legislation that would allow extraditions to China, a move that alarmed locals and multinational … Read more
by Shaun Richards Yesterday was quite a day in the life of Bank of England Governor Mark Carney as he faced the problems created by his own Forward Guidance on interest-rates, but later saw one of his hopes and dreams hover tantilisingly in the distance. It will have provided some variety as he pressed the … Read more
by TFittonJW Here is my discussion with Ramona: And some background: https://www.judicialwatch.org/press-room/press-releases/judicial-watch-former-state-official-testifies-he-warned-state-department-officials-about-clinton-email-issues-concerned-about-interference-on-classified-clinton-benghazi-email-documents/
via Judicial Watch: Judicial Watch announced today that John Hackett, the former Director for Information Programs and Services (IPS), which handles records management at the State Department, testified under oath that he had raised concerns that former Secretary of State Hillary Clinton’s staff had “culled out 30,000” of the secretary’s “personal” emails without following strict National Archives standards. … Read more
CHRISTIAN TOTO: Why Hollywood Can’t Quit The Mueller Report. It’s also worth pointing out that many of Saddam Hussien’s generals were convinced that his regime was holding weapons of mass destruction. Of course, he had an active weapons program, and used them on his own people as well as the Iranian military. But that program ended … Read more
Dow Industrials on Pace to Notch Record High The Dow Jones Industrial Average rose a fourth straight session, pushing the blue-chip index above its record closing level in intraday trading Wednesday. The Dow industrials gained 92 points, or 0.3%, ahead of its early close Wednesday before Thursday’s Independence Day holiday. The index surpassed its Oct. … Read more
Yesterday at exactly 4:17 EDT the Don signed a new bill reforming the mafia I mean the IRS lolol.The bill stops the IRS from taking money from US citizens and giving it to the queen of England and the Vatican. Bill 3151 actually abolishes the IRS officially.The new tax system goes into effect on 1/1/2020 … Read more
via variety: It wasn’t supposed to be like this. Heading into the new year, box office analysts were bullish that 2019 would beat, or at least match, the record-breaking success of last season. Followups to “Avengers,” “Secret Life of Pets” and “Godzilla” combined with reboots of storied franchises such as “Men in Black” and “Shaft” would elevate ticket … Read more
via AP: Tens of thousands of tourists and locals gaped skyward Tuesday as a total eclipse of the sun darkened the heavens over Chile and Argentina. Tourists from around the world gathered to witness the cosmic spectacle, which began in the morning as the moon crossed in front of the sun and cast a … Read more
by Charles Hugh-Smith It boils down to two very simple principles: accredit the student, not the institution and teach every student how to rigorously learn on their own. Vested interests have every incentive to maintain the status quo: specifically, those who currently own the assets, income streams and power will continue to own the assets, income streams and power. … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter After truck manufacturers eat up their backlogs, then what? Orders for heavy trucks plunged by 69% in June compared to June last year, to 13,000 units, after having plunged by 71% in May, to just 10,400 units, FTR Transportation Intelligence reported today. It was the eighth month in a row of year-over-year declines. … Read more
via Zerohedge: Yesterday, we reported about the increasingly dejected atmosphere at Deutsche Bank’s Wall Street headquarters, where the looming fear that the bank is going to gut, shutter or sell most, if not all, of its US i-banking business has inspired those remaining employees to openly hunt for other jobs, while some managers and more junior employees … Read more
Authored by Daniel Lacalle, The G20 summit has not generated unexpected or significant headlines and, of course, is not a catalyst for a relevant change in the global economic trends. The United States and China have only agreed to postpone tariff increases, but no real trade agreement has been reached. If we look at the last G20 meeting conclusions, … Read more
Trump continues tweeting out letting everyone know how great the economy is. This is part of the plan to control the narrative going into the 2020 elections. Behind the scenes, the [CB] economy is ripping itself apart. Trump just signed a bill making it illegal for the IRS to seize your assets without a crime. … Read more
via @TaviCosta: Copper is now diverging from the S&P 500 by over 35%! Last time this distortion reached similar extremes was at the September 2018 market peak. A day of reckoning for stocks should soon be upon us.
by Cre8or_1 Here’s an example of when a hedge can be useful: You own a lot of SPY (S&P500 ETF) shares. Now you are afraid of a downturn, instead of selling now and rebuying your shares later (which costs you fees & taxes on gains you had), you buy some OTM puts. This protects you … Read more
Don't look now, but US residential construction spending fell 11.16% year over year in May. pic.twitter.com/mQrKZNqqZa — Eric Basmajian (@EPBResearch) July 1, 2019 Total construction spending declined 2.30% year over year in May. https://t.co/zp0RuNnqjz pic.twitter.com/Ecx7X0UsIU — Eric Basmajian (@EPBResearch) July 1, 2019 And Powell better cut 100 bps asap https://t.co/ABpOpcgyuy — zerohedge (@zerohedge) July 2, … Read more
With earnings season looming, 77% of companies issuing pre-announcements say their profit picture will be worse than Wall Street is expecting. That’s the second-worst quarter on record going back to 2006, according to FactSet. Two tariff-sensitive sectors, tech and health care, have seen the highest amounts of negative announcements. Stocks may have brushed up … Read more