First wave of global tightening has already started….
Plenty of central banks are already seeing liftoff. Brazil, Russia, Czech Republic, Hungary have hiked, Chile has signaled they will next month, and Canada has already announced tapering. G8 will clearly lag.
— The Long View 🍥 (@HayekAndKeynes) June 23, 2021
Existing-Home Sales: High prices->declining
Damage is done & Autumn #collapse will do the rest.🔥 pic.twitter.com/D7YENvrEAI
— Antonio Pérez-Algás (@apanalis) June 23, 2021
The bulls continue to come up with excuses for weak housing data. But bottom line, houses are simply too expensive, which means prices have to fall or activity slow. For now it's activity, as today's disappointing New Home Sales data illustrates. t.co/OFUTyvDxrj pic.twitter.com/pbj6kYULST
— Julian Brigden (@JulianMI2) June 23, 2021
Huge Boost to the Economy Is About to Fade
The multiple relief packages enacted by Congress flooded the U.S. economy with cash, providing much-needed liquidity as the Covid-19 pandemic sharply reduced activity in multiple sectors including travel, hospitality, dining and entertainment. But as Neil Irwin of The New York Times notes Tuesday, most of the aid money was front-loaded, issued in a matter of weeks or months.
- AZ overturns election judgement to verify signatures
- Fifty More US Banks on the Verge of Failing
- A Full Blown US Conflict With Iran at Israel’s Insistence Is Approaching
- I am surprised a Japanese magazine would allow this to run, but it is correct…
- Inter-Bank Lending Has Stopped And We’re On The Verge Of A Crash
- “The Banks Are Melting”, And Signs Of A Major Credit Contraction Are Already Starting To Emerge
- ‘Largest Satanic Gathering in History’ Will Require Masks and Vaccinations
- New York Times: “Stolen Valor: The U.S. Volunteers in Ukraine Who Lie, Waste and Bicker. James Vasquez, in fact, was never deployed to Kuwait…”
- Bibi Netanyahu Squashes Embarrassing Anti-Christian Bill
- The market is being held up by 7 companies