No Stimulus For You, Failed Economy and Failed Cities/States with John Rubino

by

from Kerry Lutz’s Financial Survival Network John Rubino returns for another weekly installment… Might not be a stimulus bill before the election, which means before January. Major economic disruption if so. Let’s go through some of the things that would happen. The game is still ongoing and there’s a number for how low the stock market goes … Read more

The ECB has found itself pushing on a string

by

by Shaun Richards Our focus today shifts to the Euro area where to quote Todd Terry there is indeed “something going on”. We find that the European Central Bank can influence one area of the economy and here it is. Annual growth rate of narrower monetary aggregate M1,, comprising currency in circulation and overnight deposits, … Read more

170 out of 499 S&P companies have reported Q3 earnings, growth is -14%. Consumer confidence in freefall

by

https://twitter.com/GreekFire23/status/1321153120592953345 The most striking data point from this month’s US Conference Board report is the absolute collapse in confidence for consumers in the $15K & below income bracket. It is the 2nd largest 1M drop on record at -26.1pts, surpassed only by the drop in March at -28.2pts. pic.twitter.com/xHtFrnPfo8 — Julien Bittel, CFA (@BittelJulien) October … Read more

Federal Reserve Board fines the Goldman Sachs Group, Inc. $154 million for failure to maintain appropriate oversight, internal controls, and risk management with respect to 1Malaysia Development Berhad (1MDB)

by

Source: Federal Reserve The Federal Reserve Board on Thursday announced it has fined the Goldman Sachs Group, Inc. $154 million for the firm’s failure to maintain appropriate oversight, internal controls, and risk management with respect to Goldman’s involvement in a far-reaching scheme to defraud a Malaysian state-owned investment and development company, 1Malaysia Development Berhad (1MDB). In … Read more

Escape From New York (And Chicago)! Case-Shiller Home Prices Rise 5.7% YoY As Phoenix AZ Leads In YoY Price Growth (Chicago And New York In Last Place)

by

by confoundedinterest17 The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.7% annual gain in August, up from 4.8% in the previous month. The 10-City Composite annual increase came in at 4.7%, up from 3.5% in the previous month. The 20-City Composite posted a 5.2% year-over-year gain, … Read more

BERNARD GOLDBERG: American Journalism 2020: R.I.P.

by

As a personal favor, I ask you to please not laugh out loud when I say: Let’s take journalists at their word when they tell us the only reason they’re not running the Hunter Biden story is that, because they’re unbiased, honest, trustworthy professionals, they don’t want to traffic in an unsubstantiated smear campaigns.” Okay, … Read more

JP MORGAN GOES FULL TRUMPTARD: Trump is the best scenario for MARKETS. S&P500 COULD jump 14% if TRUMP WINS

by

The S&P 500 could jump 14% to 3,900 if Trump wins the election, JPMorgan says The S&P 500 could rally around 14% to hit 3,900 if President Donald Trump wins the November election, according to JPMorgan. A Trump victory is the “most favorable outcome for equities,” a team of analysts led by chief US equity … Read more

California wildfire leaves two firefighters critically injured, forces 90,000 to evacuate

by

A fast-moving, wind-whipped wildfire left two firefighters critically injured and forced more than 90,000 residents in Southern California to evacuate Monday, while huge swaths of the Golden State went without power in an effort to prevent more flames, officials said. The firefighters, 26 and 31, were injured while battling the Silverado Fire, which had charred at least … Read more

JOURNALISM: ‘Economist’ Failed to Disclose Lucrative Beijing Ties. “UK mag cashed Huawei checks as it covered telecom giant.”

by

The Economist provided sympathetic coverage of a Chinese tech giant widely considered a national security risk without disclosing the publication’s lucrative business relationship with the firm that spanned nearly a decade. Huawei Technologies commissioned the Economist‘s business consulting division to advance its policy agendas and deflect cybersecurity concerns raised by Western governments. The influential British magazine produced reports … Read more

There is no doubt Joe Biden is in ‘cognitive decline’ – Sky News Australia

by

The Australian’s Foreign Editor Greg Sheridan says it is impossible to watch Joe Biden perform in a spontaneous setting and not conclude there has been some cognitive decline. It comes after a clip recently emerged showing Democratic presidential nominee Joe Biden mixing up President Donald Trump with former US President George W. Bush. “There is … Read more