Rescued? Not So Fast!

by northmantrader Unemployment at 50 year lows, S&P 500 near all time human history highs and rate cuts are all the rage. Markets were screaming rate cuts and the Fed dutifully complied, first Bullard, then Jay Powell and the largest rally of 2019 ensued. Rescued again. Look, I was not kidding last week when I spoke … Read more

Danielle Park: Would Cutting Rates Provide Enough Stimulus?

Talk Digital Network, Released on 6/6/19 Portfolio Manager, attorney, finance author, a regular guest on North American media. Danielle Park is the author of the best selling myth-busting book “Juggling Dynamite: An insider’s wisdom on money management, markets and wealth that lasts,” as well as a popular daily financial blog: http://www.jugglingdynamite.com. Danielle worked as an attorney … Read more

Judge Rules FBI Must Release Declarations from Lead Mueller FBI Agent.

by sundance In federal court yesterday (Friday, June 7). In a FOIA case ruling (full pdf below)  Judge James Boasberg was deciding public release over two issues related to the memos of former FBI Director James Comey.  Backstory HERE and HERE. Judge Boasberg was deciding what could be publicly released, meaning current redactions removed, based on two connected events: … Read more

Used-Car Wholesale Prices Surge, Retail Volume Drops. New Cars Sink Deeper into Carmageddon

Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter The Chart of Carmageddon. Prices of used vehicle that were sold in May at wholesale auctions rose 4.0% compared to May last year, according to Manheim, the largest auto-auction house in the US, running about 8 million vehicles through its venues a year. The chart of the Manheim Used Vehicle Value Index, … Read more

JP Morgan Chase, Citi, Barclays, and RBS Fined for Currency Rigging

Authorities in Switzerland have fined five banks, including Royal Bank of Scotland (RBS) and Barclays, for fixing foreign exchange trading through cartels dubbed “Three Way Banana Split” and “Essex Express”. The WEKO competition regulator said it had issued penalties totalling 90m Swiss francs (£71.3m). They were issued weeks after the European Commission imposed larger fines on the … Read more

Druckenmiller: Global Debt A Looming Problem

via benzinga: Billionaire hedge fund manager Stanley Druckenmiller told CNBC Friday that the U.S. could be in trouble when the next recession hits thanks to the massive amount of corporate debt companies are holding. Druckenmiller isn’t the only expert concerned with debt levels around the world, as borrowing has seemingly accelerated in recent years to record levels. Scary … Read more

A truly bizarre trend is having an impact on the economy — wealthy people and corporations have so much money they literally don’t know what to do with it.

A truly bizarre trend is having an impact on the economy — wealthy people and corporations have so much money they literally don’t know what to do with it. Why it matters: At a time when growing income inequality is fueling voter discontent and underpinning an array of social movements, the top 1% of earners and … Read more

Google’s gaming system Stadia is coming in November

https://edition.cnn.com/2019/06/06/tech/google-stadia-release-date/index.html ​ The system, which was originally announced in March, will act like a Netflix for video games. Google says it will eventually allow people to play games directly over WiFi from any TV with Chromecast, computer with a Chrome browser, and Google Pixel phones. There are no downloads as the games themselves exist on … Read more

Game over. The grand central bank experiment of the last 10 years has ended in utter and complete failure.

by northmantrader Game over. The grand central bank experiment of the last 10 years has ended in utter and complete failure. The games of cheap money and constant intervention that have brought you record global debt to the tune of $250 trillion and record wealth inequality are about to embark on a new round of peddling … Read more