The Stock Market and Consumer Sentiment Are Telling Different Stories… Salaries Get Chopped for Many Who Manage to Keep Jobs

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The Stock Market and Consumer Sentiment Are Telling Different Stories Stocks have rebounded off March lows, while sentiment is near the lowest level in nearly a decade Stocks have rebounded dramatically off their March lows, while consumer sentiment is hovering near the lowest level in nearly a decade. The divergence is one of many realities … Read more

US mulls sanctions on Chinese officials, firms over Hong Kong’s new security law; China’s military vows to ‘punish’ any attempts to separate Hong Kong

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WASHINGTON (BLOOMBERG) – The US is considering a range of sanctions to punish China for its crackdown on Hong Kong, people familiar with the matter said, as the administration weighs whether to declare the former British colony has lost its autonomy from Beijing. https://www.straitstimes.com/world/united-states/us-mulls-sanctions-on-chinese-officials-firms-over-hong-kongs-new-security-law TAIPEI (Taiwan News) — Two B-1B bombers and a refueling aircraft … Read more

How Gold Can Surpass All-Time Highs in 2020

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From Birch Gold Group   This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: How gold could move past its all-time high, central banks loaded up on gold before the coronavirus, and two French children stumble upon gold bars worth over $100,000. Experts say gold … Read more

Re-Opening the Economy Won’t Fix What’s Broken

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by Charles Hugh-Smith Re-opening a fragile, brittle, bankrupt, hopelessly perverse and corrupt “normal” won’t fix what’s broken. The stock market is in a frenzy of euphoria at the re-opening of the economy. Too bad the re-opening won’t fix what’s broken. As I’ve been noting recently, the real problem is the systemic fragility of the U.S. economy, … Read more

Despite Record-Low Mortgage Rates, New House Prices Drop to Lowest April since 2015, Sales to Lowest April since 2017

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More than plenty of supply: 6.3 Months’ unsold inventory of speculative houses. By Wolf Richter for WOLF STREET. Sales of new single-family houses in April dropped 6.2% from a year ago, after having dropped 11.6% in March, to a seasonally adjusted annual rate of 623,000 houses, down nearly 20% from the peak in January: This decline in sales … Read more

RUSH: Trump’s just dosing out some medicine. “Okay, Joe, how does it feel?”

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via rushlimbaugh RUSH: Everybody’s jumping all over Trump. I got a headline here on Drudge: “Twitter Apologizes for Trump Tweets.” This is about Trump tweeting that Scarborough murdered somebody, and a lot of people say, “What is Trump doing? Why is he punching down? Why is he wasting time on Scarborough?” I have no idea, folks, … Read more

Chinese oil firm MIE defaults on US$248 million bond after value of its assets fall sharply

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The crash in international crude prices has not only burnt small Chinese investors who bought wealth management products from one of China’s largest banks but also a listed oil and gas firm that announced last week that it would default on a US$248 million bond. https://www.scmp.com/economy/china-economy/article/3084773/chinese-oil-firm-mie-defaults-us248-million-bond-after-value

Trump (Who Says He Doesn’t Watch The Stock Market) Pumps The Dow And S&P Today While Proclaiming “Transition to Greatness has started”

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(by Half Dollar) You may not know this, but Trump actually said he doesn’t watch the stock market: And if we disregard the thousands upon thousands of times he’s talked or Tweeted about the stock market, then I guess that’s true. Regardless, I guess I’ve gotta make some people mad again, because while I’d rather not write … Read more

Dr. Fauci has finally admitted — this happened back on Friday — that the lockdown might do “irreparable damage,” something I opined on, something I told you two weeks into this.

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via rushlimbaugh RUSH: Dr. Fauci… Dr. Fauci has finally admitted — this happened back on Friday — that the lockdown might do “irreparable damage,” something I opined on, something I told you two weeks into this. Dr. Fauci, up until last Friday, was dead set against any opening. Now, what happened? What made Dr. Fauci…? I … Read more

Reporter: “Isn’t the guidance to wear a mask when you’re outside though, not when you’re necessarily in your home?” Press Sec. Kayleigh McEnany: “The guidance is it’s recommended but not required.”

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Reporter: "Isn't the guidance to wear a mask when you're outside though, not when you're necessarily in your home?" Press Sec. Kayleigh McEnany: "The guidance is it's recommended but not required." pic.twitter.com/fJGZmxmj3c — The Hill (@thehill) May 26, 2020