Breaking news, updates, and reports on current events.
via forbes: “This would leave Federal spending limited to: the military, debt service, retirement benefits for Federal employees, and “everything else.” This too could eventually be cut in half over time. At present, these categories constitute 38% of Federal spending, or 7.9% of GDP. This reduced spending commitment could be funded with a much simpler … Read more
via city-journal.org: The mayor also makes his case by comparing Chicago’s crime numbers over the last two years with those of . . . Baltimore. Not New York. Not Los Angeles. But Baltimore—one of America’s most dangerous, crime-ridden cities. It’s no accident that Emanuel chose this comparison, instead of putting Chicago up against New York and … Read more
Police raided the home and office of a freelance journalist Friday morning as part of an ongoing investigation into a leaked confidential police report containing salacious details about the death of late Public Defender Jeff Adachi. Freelance journalist Bryan Carmody told the San Francisco Examiner that his home and office were raided by police and … Read more
https://www.youtube.com/watch?v=ZHYiorzBb_o Nick Givas from The Daily Caller reports, New York City Democratic Councilman Robert Holden said Immigration and Customs Enforcement agents should be allowed to make arrests in and around state courthouses, without a signed warrant. Read More/Source/Credit/FairUse: https://dailycaller.com/2019/05/08/ne…
https://www.youtube.com/watch?v=k5nBiiAtvrA Mike Brest from The Daily Caller reports, Democratic Minnesota Sen. and presidential candidate Amy Klobuchar seemingly dismissed the ordeal of Justice Brett Kavanaugh’s confirmation hearings by appealing to the fact that he got the job, during a Wednesday town hall on Fox News. Read More/Source/Credit/FairUse: https://dailycaller.com/2019/05/08/am…
Do you think that the valuations of these companies are justified? Once upon a time a billion dollars seemed like fiction. Today, it seems as though more and more individuals and corporations are watching that extra digit added to their net worth. There are now hundreds of companies that have found themselves worth billions of … Read more
by Amy S. This is the closest that the U.S. has been to a war with Iran in decades, and yet most Americans are either clueless or they don’t seem to believe that it could actually happen. And I certainly don’t think that President Trump wants a war, but he is surrounded by war hawks that … Read more
by Amy S. Wouldn’t it be horrible if the number of Americans without a job was higher today than it was during the economic collapse of 2008 and 2009? Well, that is actually true. As you will see below, nearly 102 million Americans do not have a job right now, and at no point during the … Read more
via redstate: Facebook posts from concerned people dotted the social media site and Twitter was ablaze with anti-gun rhetoric once again. And then it all suddenly went silent. Now, the media seems far less interested in the shooting. An odd turnaround for the media who take every opportunity to hammer home the idea that guns are … Read more
Tens of thousands of poor children — all of them American citizens or legal residents — could lose their housing under a new rule proposed Friday by the Trump administration. The rule is intended to prevent people who are in the country illegally from receiving federal housing aid, which the administration argues should go to … Read more
FBI Director James Comey on Monday said that neither the FBI or the Department of Justice had evidence to support President Donald Trump’s claim that President Barack Obama wiretapped his phones during the 2016 election.
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Straggler behind the Fed and the ECB gets the drift. Total assets on the balance sheet of the Bank of Japan at the end of April ticked up from March but were flat with the record in February: ¥562 trillion ($5.1 trillion). This amounts to a gigantic 102.2% of nominal GDP. But the … Read more
by Chris Kimble Could the Dow and the S&P both be triple topping at the same time? Possible says Joe Friday This 2-pack looks at the Dow ETF (DIA) and the Equal Weight S&P ETF (SPY) over the past 18-months. Joe Friday Just The Facts Ma’am- Each could be triple topping at the January 2018 highs and breaking below … Read more
The Cuban government announced Friday that it is launching widespread rationing of chicken, eggs, rice, beans, soap and other basic products in the face of a grave economic crisis. Commerce Minister Betsy Díaz Velázquez told the state-run Cuban News Agency that various forms of rationing would be employed in order to deal with shortages of staple foods. … Read more
via reason: I am currently finishing a book on the idea of constitutional crisis, the role it has played in recent American politics, and the ways in which it might be helpful in understanding the American constitutional experience. (I have written about the notion before; you can get a taste here and here.) As a result, I have mixed … Read more
By David Stockman According to Moody’s Investors Service, the now $3.9 trillion ETF industry could result in a toxic feedback loop of selling when market makers step away from supporting assets during market turmoil….. see the ETFlash crash of August 2015, when massive dislocations among countless ETFs resulted in the the broad halt of the overall stock … Read more
President Trump’s tariffs, once described as negotiating tools, may be here to stay The failure of the United States and China to reach agreement Friday on a comprehensive trade deal raises the possibility that President Donald Trump’s favorite negotiating tool – high tariffs on imported goods – may be hardening into a permanent feature of … Read more
https://www.youtube.com/watch?v=nue0czizvzs
via Otavio (Tavi) Costa: – Global export volume growth contracting; – Asia exports plunging and significantly diverging from global stocks; – 85% of Hong Kong yield curve inverted; https://www.youtube.com/watch?time_continue=2&v=8Se7NcFR2Qo