On Wire

Breaking news, updates, and reports on current events.

“They’re Right, It ‘Is’ Different This Time…”

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Authored by Sven Henrich via NorthmanTrader.com, They’re right. It IS different this time. It’s worse. Much, much worse. What is? Everything. In terms of preparedness for the next recession that is. Debt is higher than ever, be it corporate debt, government debt, central banks balance sheets, available ammunition to deal with a new recession, wealth inequality, the … Read more

In One Chart: A Decade of the U.S. Trade Deficit with China

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by howmuch Since 2010, the United States and China have had the world’s largest economies by GDP. But one interesting difference is that the U.S. is the world’s biggest importer while China is the world’s biggest exporter. The U.S. is currently China’s biggest trade partner, but recent talks about tariffs have highlighted the imbalance of imports and exports between the … Read more

Why US Commercial Real Estate Is Another Dangerous Bubble In The Making

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Authored by Jesse Colombo via RealInvestmentAdvice.com, While most people – including mainstream economists – seem to believe that our bubble problems ended when the U.S. housing bubble burst in 2008, the reality is that there are even more bubbles forming today than before the Great Recession. I listed the bubbles that I am warning about in a detailed piece … Read more

Central Banks Contribute to Inequality

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via aier.org: Inequality is possibly the buzzword of our day, having been called “the biggest challenge of our time” by the likes of Oxfam and being seen across the political spectrum as one of the most crucial issues today. It is argued that our economic – supposedly capitalist – system would lead to more wealth for ‘the rich’ … Read more

Median US Home Sales Price vs Median US Household Income 1984-2017

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by shewent (Tools) Basic Excel (Source) CPI 1984-2017 (manually adjusted income and housing prices to 2017 dollars using average cpi per year) data fromhttps://beta.bls.gov/dataViewer/view/timeseries/CUSR0000SA0 Median Sales Price of New Homes Sold in the US 1963-2017 data from https://www.census.gov/construction/nrs/pdf/uspricemon.pdf US Median Household Income data from https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-households.html

U.S. Consumer Debt Is Breaching Levels During the 2008 Financial Crisis

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via MarketWatch: U.S. consumer debt hit $14 trillion in the first quarter of 2019   Consumer debt is growing to worrisome levels. Ben Mohr, senior research analyst of fixed income at investment consultant Marquette Associates, calculated that total U.S. consumer debt hit $14 trillion in the first quarter of 2019, surpassing the roughly $13 trillion … Read more

Republican Senator Josh Hawley is set to unveil legislation that could make social media platforms susceptible to lawsuits for political bias

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enator Wants Facebook, Google to Face Suits If They Show Political Bias Technology platforms such as Facebook Inc. and Google’s YouTube could face a flood of lawsuits unless they can demonstrate their treatment of users’ content is politically neutral, under a measure that U.S. Senator Josh Hawley’s office said he would offer Wednesday. The proposal … Read more

This Hong Kong economist has a great theory of what the overall objective of Trump/Lighthizers trade escalation with China is about.

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I’ve followed her for a while and she’s really sharp, definitely knows her stuff. I think she maybe onto something with regards to the overall grand strategy Lighthizer has put together to confront China. And what the administrations ultimate objective may be. via @Trinhnomics: 1) What is Trump’s ultimate game? RECIPROCAL TRADE & INVESTMENT. Pissed off … Read more

Beyond Meat is now larger than 80 S&P 500 companies, but IPO euphoria might not last

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Beyond Meat has blown up. Since going public in early May, the stock has raced nearly 600% higher, taking its market cap above $10 billion. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy’s, Xerox and Mylan. While Beyond Meat is by far the market’s biggest IPO success story this year, it’s not the only … Read more

The Most Splendid Housing Bubbles in Canada, May Update

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Vancouver housing bubble sags. Toronto down 3.4% from peak. Calgary and Edmonton back to 2007. Montreal sets new record. National index ticks up the least for any May in 21 years of data. Home prices across major metros in Canada ticked up 0.5% in May from the prior month, the slowest … Read more

Dear Central Bankers: Prepare to be Swept Away in the Next Wave of Populism

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by Charles Hugh-Smith The political moment when the “losers” connect their discontent and decline with central bankers is approaching. The Ruling Elites’ Chattering Classes still haven’t absorbed the key lesson of the 2016 U.S. presidential election: the percentage of the populace that’s becoming wealthier and more financially secure in the bloated, corrupt, self-serving Imperial status quo … Read more

1,000 Earthquakes In 3 Weeks? Oh Yeah, Those Living Near The San Andreas Fault Definitely Have Reason To Be Concerned

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by Michael Snyder In a key seismic zone approximately 40 miles east of downtown Los Angeles, there have been more than 1,000 earthquakes since May 25th.  Needless to say, it would be quite alarming for the entire state of California to experience more than 1,000 significant earthquakes in just 3 weeks, but in this case … Read more

Brick-and-Mortar Meltdown Gets Costly for Big Retailers, and Results May Vary

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Ecommerce and the globalization of retail crush distribution channels, wholesalers, local retailers, large retailers, prices, and margins.  Transcript of my podcast on Sunday. You can listen to my podcasts on YouTube. Walmart, Macy’s, Best Buy, Home Depot, Nordstrom, etc. — they all spend vast sums of money building out their ecommerce sites and their … Read more