US Pending Home Sales Decline -10.6% MoM In February (And -2.7% YoY) As Mortgage Rates Rise

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by confoundedinterest17 Well, the data for pending home sales is for February (the dead of winter). But US pending home sales MoM fell -10.60% and -2.70% on a YoY basis. As mortgage rates start their long-predicted rise. Let’s hope that March is better. And UCLA beat Michigan in NCAA basketball (March Madness), so things are looking … Read more

Welcome To (Treasury) Thunderdome! Overnight Reverse Repo Facility Surges To $104.7 Billion As Investors Seek Shelter From Negative Rates

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by confoundedinterest17 The Treasury markets are getting blasted like in Thunderdome from Mel Gibson’s Mad Max Beyond Thunderdome. (Bloomberg) — The popularity of one Federal Reserve overnight deposit facility has surged as investors look for shelter from negative rates in short-term markets, which are under unusual pressure over quarter-end thanks to the flood of cash in the system. … Read more

Joe Biden’s Path Towards Fiscal Doom

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President Trump approved $900 billion in stimulus spending in December and President Biden approved another $1.9 trillion in March. Biden is set to propose a further $3 trillion on infrastructure, and Majority Leader Chuck Schumer is exploring ways to bend Senate rules to keep the spending flowing. This gusher of spending is greatly damaging. This is not monopoly … Read more

DISORDER WILL COME – AS CONFUCIUS WARNED

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By Egon von Greyerz When bubbles burst, we will discover how very few superior men there actually are – as defined by Confucius: “The superior man, when resting in safety, does not forget that danger may come. When in a state of security he does not forget the possibility of ruin. When all is orderly, he … Read more

Woke Pentagon Diversity Chief Reassigned After Anti-Trump Posts…

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US Special Operations’ new “chief of diversity” has been reassigned just days after he was appointed, amid an investigation into social media posts in which he compared former President Donald Trump to Adolf Hitler. A Department of Defense official confirmed the reassignment of Richard Torres-Estrada to Fox News on Tuesday. Torres-Estrada’s appointment as chief of … Read more

Chinese Military Aircraft Enter Taiwan’s Air Defense Identification Zone AGAIN

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10 Chinese military aircraft enter Taiwan's air defense identification zone. @TaiwanNews886 https://t.co/g2SvJy20cr pic.twitter.com/gUndz33cm6 — AMTI (@AsiaMTI) March 31, 2021 "Notable, however, were Chinese military planes performing something akin to a pincer movement around Taiwan, with two additional warplanes approaching the east coast after flying through the Miyako Strait between Japan-controlled islands."https://t.co/uzDnCJoynz — Simadologist (@simadologist) March … Read more

2 NYC Medial Examiner workers stole credit cards of deceased to fund Florida trip, officials says

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NEW YORK (WPIX) — Police on Tuesday arrested two former employees of the New York City Medical Examiner’s Office on allegations they stole credit cards from multiple bodies in the city’s custody and charged thousands in unauthorized purchases, according to officials. Charles McFadgen, of the Bronx, and Willie Garcon, of Brooklyn, were taken into custody … Read more

Racist? Nearly 70% of Blacks Support Voter ID

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Democrats, contending laws requiring voters to present photo ID amount to discriminatory “suppression” of the black vote, are pushing legislation in the Senate that would gut state voter ID laws. But a new Rasmussen national telephone and online survey finds that 69% of likely black voters and 75% overall believe voters should be required to … Read more