Home flippers see lowest returns in 8 years as costs rise

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https://www.cnbc.com/2019/09/19/home-flippers-see-lowest-returns-in-8-years-as-costs-rise.html The average gross profit on a flip was $62,700, which translated into a 39.9% return on investment, after renovation and carrying costs. That is down from a 40.9% gross flipping return in the first quarter of this year and a 44.4% return in the second quarter of 2018. Returns have been falling for six … Read more

Today in the Financial Crisis: 20 SEP 2013 In a CNBC interview, James Bullard of the St. Louis Fed says, “The bubbles we had in the past were gigantic and obvious. I don’t see anything like that going on right now.” This statement contradicts the Fed’s position on bubbles.

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Today in the Financial Crisis: 20 SEP 2013In a CNBC interview, James Bullard of the St. Louis Fed says, “The bubbles we had in the past were gigantic and obvious. I don’t see anything like that going on right now.” This statement contradicts the Fed's position on bubbles. pic.twitter.com/ge0BCtTHxI — Peter Schmidt (The 92ers) (@The92ers) … Read more

Can Stocks Fall Without A Recession?

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via UPFINA: The cycle high new home sales reading in June, the solid MBA purchase applications growth (15% growth in the week of September 13th), and the strong improvement in current sales in the September housing market index were all confirmed by the strong August housing starts report. Most of the data is headed in … Read more

Iranian petrochemical websites are down!

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Iranian petrochemical websites are down / https://t.co/gNddKKLrJw | 100% Packet loss https://t.co/PDrPcWxjf9 | Failed to resolvehttps://t.co/mc5dheTkQY | 100% Packet loss https://t.co/FvUFLPl2dD | Failed to resolve pic.twitter.com/5y3ZbzIV4M — Aleph א (@no_itsmyturn) September 20, 2019 https://t.co/FSEjwtSzQ8 seems down ! pic.twitter.com/ex71bM5SKA — Aleph א (@no_itsmyturn) September 20, 2019 https://t.co/OkaUxx7OAx Security and Exchange Organization website | 100% packet losshttps://t.co/o0foPlvDFb … Read more

Seattle and Philadelphia mayors don’t want President Trump taking the lead on homeless

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by DCG In November 2015 former demorat Seattle Mayor Ed Murray (who resigned due to child sex abuse allegations) declared an emergency and announced new investments to respond to homelessness. Between the city and King County, they initially pledged $7.3M to address the crisis. Fast forward to 2019 and this is the state of the homeless crisis in King … Read more

Thanks, Fed! Chaos In The Bond Pits

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via creditbubblebulletin: September 20 – Wall Street Journal (Daniel Kruger): “The Federal Reserve Bank of New York will offer to add at least $75 billion daily to the financial system through Oct. 10, prolonging its efforts to relieve funding pressure in money markets. In addition to at least $75 billion in overnight loans, the New York … Read more

11-Count Indictment Handed Down in Russian Bribery Case Involving Uranium One. Clinton, Obama, Mueller, Comey, McCabe, Rosenstein, Holder, Lynch

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via conservativepost: The Justice Department released the first in what promises to be a series of nightmare statements for Hillary Clinton and members of the Obama administration on Friday. Yesterday’s statement comes under the banner: The charges are explained in the third paragraph the DOJ’s statement: “Mark Lambert, 54, of Mount Airy, Maryland, was charged in … Read more

Federal Court Rules Cops Can Steal Your Stuff

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By Jack Burns The 9th Circuit Court of Appeals has upheld a ruling which declared police can constitutionally steal your possessions. Called “civil asset forfeiture,” the police are under no obligation to give the property back to you. Instead, police departments will steal your stuff, hold it in storage (accruing fees in most cases), and then sell your … Read more

Fed ballooning its balance sheet by $165 billion in less than 2 weeks. Things must really be bad out there. Much worse than we can imagine.

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via wallstreetexaminer: I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today. In addition to the … Read more

The sharp rise in the Citi Economic Index could be another recovery head fake.

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via Michael Kantrowitz, CFA: It’s not being confirmed by Bloomberg’s Leading Indicator Surprise index. When these two series diverge, Citi’s surprise index has pointed investors the wrong way. Surprises are important, but more so when it comes from leading economic data. Stay defensive. $XLU $XLP $TLT Citi’s surprise index has too much lagging economic data, … Read more

How The Deep State Is Dragging Trump Into War With Iran

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via strategic-culture.org: Should we chalk it up to coincidence theory that just days after Trump gives John Bolton the boot as his National Security Adviser, Iran is blamed for an attack on a Saudi oil facility, forcing Washington to forego any hope of peace with Tehran? One day before Bolton’s abrupt departure from the White House, … Read more

The Fed is Clamoring to Regain Control of this Critical Cog in the Financial Markets

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From Birch Gold Group In a week during which the Federal Reserve cut interest rates for only the second time since the Great Recession, the central bank found its hands full with another event with potentially catastrophic implications for the economy. In short, liquidity in the repo markets – a critical cog in the financial system … Read more

Small Town In Ireland Fights Back Against Open Borders

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The small town of Oughterard in Ireland, with a population of only 1600 people, nearly unanimously protested against take in more “refugees.” Under a direct provision the small rural town, already full to capacity, would be responsible for the housing and welfare of the “asylum seekers.” Minister of State Seán Kyne was booed and heckled … Read more