On Wire

by Egon von Greyerz The massive explosion of wealth in the world could be a sign of general prosperity but that is certainly very far from the truth. The printed money and credit expansion has only benefited a very small minority. The gap between the rich and the poor is getting ever wider but it … Read more

The housing market is imploding, the [CB] will need another jolt of stimulus to keep it going. The [CB] economy has been declining at an accelerated speed since the financial crisis, manipulation made it look great. Farmers will be getting aid from the government. China pegs its currency to the Fed debt note, this is … Read more

by Fabius Maximus Summary: America is on the brink of radical changes resulting from decades of almost open borders. Only fast and effective policy action can prevent irreversible and ugly results. We successfully handled a similar situation in the past, and can do so again. ID 40796151 © Rawpixelimages | Dreamstime. The challenge The Census 2010 … Read more

“Growth of business activity slowed sharply in May as trade war worries and increased uncertainty dealt a further blow to order book growth and business confidence. “A decline in the headline ‘flash’ PMI to its lowest for three years pushes the survey data down to a level historically consistent with GDP growing at an annualized rate … Read more

by Michael Snyder Slowly but surely, Wall Street is starting to understand that the good times are over.  For months, most investors were absolutely convinced that the U.S. and China would be able to work out a trade deal because the alternative would simply be too painful for both sides.  But now trade talks are completely … Read more

by Michael Snyder If China wants to cause a massive amount of pain for the U.S. economy in this trade war, they certainly have the firepower to do so.  Today, China accounts for more than 80 percent of the world’s rare earth element production, and approximately 80 percent of the rare earth elements that are … Read more

TradersChoice.net, Released on 5/23/19 Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate … Read more

ITM Trading, Released on 5/22/19 Many people think that the current fiat money regime can go on forever and point to Japan as a prime example. Afterall, their economy collapsed in the early 1990’s after decades of rapid economic growth. In 1992 the BOJ began a never ending series of “extraordinary policy” as they experimented … Read more

Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter These are just the “Flash” Purchasing Managers’ Indices (PMI) which are reported a week before the final PMIs at the end of the month, and they represent just one view, but these are big moves, both, in US manufacturing and US services, big moves in the wrong direction, simultaneously, with both … Read more

by visualcapitalist   When people think of freedom, they often think it in the physical sense, such as the ability to act and behave in certain ways without fear of punishment, or freedom of movement within one’s country. When a nation chooses to restrict freedom in the physical world, the results are often hard to ignore. … Read more

by Charles Hugh-Smith If China wants superpower status, it will have to issue its currency in size and let the global FX market discover its price. Quick history quiz: in all of recorded history, how many superpowers pegged their currency to the currency of a rival superpower? Put another way: how many superpowers have made their … Read more

via @Trinhnomics: Chart is from 2017 but hasn’t changed too much 👇🏻. Foreign is 30% of total & so China is roughly 6% of total ownership of UST. Don’t forget that Americans own most of US debt👇🏻 (private sector stepping up to replace 📉of foreign buyers https://t.co/c3lndWpcs1    

“She treats me as she might treat her maid or her pilots or makeup artists or her wardrobe consultants.”     h/t CK