Local Bank Branches Continue to Disappear

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The number of local bank branches continues to dwindle as big players like McLean-based Capital One Financial Corp. (NYSE: COF), Atlanta-based SunTrust Banks Inc. (NYSE: STI) and Winston-Salem, North Carolina-based BB&T Corp. (NYSE: BBT) cut dozens of branches, according to new data. The D.C. metro area saw its overall number of bank branches drop by 57, from 1,549 to 1,492 from … Read more

The Four Dynamics of Bubbles

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by Charles Hugh Smith Editor’s note: Central banks have inflated bubble after bubble. Today, Daily Reckoning contributor Charles Hugh Smith shows you the three stages of bubbles – with a fourth for good measure. He also addresses how long the show can go on. Dear Reader, Financial bubbles manifest three dynamics: The one we’re most familiar with … Read more

Trade Tensions, Oil Shock Cloud Fed Efforts to Steer Clear of Recession… Investors Remain Terrified of a US Recession

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Trade tensions, oil shock cloud Fed efforts to steer clear of recession It’s been an eventful six weeks for the global economy, complicating the Federal Reserve’s efforts to steer the U.S. economy through a dark global outlook facing increasing uncertainty. Since the Fed’s July 31 decision to cut rates for the first time in over a … Read more

Price Controls Attack the Freedom of Speech

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via aier.org: We increasingly live in a new “dark age” of economic ignorance, and even stupidity. Few things exemplify this trend as much as the call for price controls over the interactions of multitudes of people in the marketplace of supply and demand. There are few government interventionist policies as likely to disrupt, distort, and imbalance the actions … Read more

Rent caps for all of California….

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by youme “California’s New Rent Control Law Will Make Its Housing Shortage Worse “The latest ill-conceived policy from California is a statewide rent cap. As the New York Times reported this week: The bill limits annual rent increases to 5 percent after inflation and offers new barriers to eviction, providing a bit of housing security in … Read more

CA will never be allowed to seccessed for two reasons.

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by Ono 1) Ca. has more military bases than any other state in the Union many which are very strategic (Vandenberg, Camp Pendelton, Miramar, Seal Beach…) http://www.militarybases.us/by-state/ 2) The Dems would loose massive amounts of electoral votes as well as house representatives https://www.answers.com/Q/Number_of_representatives_in_California I live in Ca and am hoping that the tide is turning … Read more

Now on to the PRC.

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by A2 On Monday, all PRC papers published a speech made by Xi Jinping to a Party meeting in 2014. The speech was a roadmap on the Party’s correct path, but warned that they faced enemies within and without to establishing the China dream. The ultimate collapse of capitalism and the victory of communism with … Read more

CEO confidence plunging and completely diverging from stocks. The most since GFC! CITI: “It may be that slower growth is the best we can hope for ..”

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Absurdity to a whole new level. CEO confidence plunging and completely diverging from stocks. The most since GFC! Corporate leaders rapidly losing faith in the economy;Yield curve inversions out the wazoo;Debt imbalances everywhere; How can stocks be at record valuations? pic.twitter.com/jv8ud6kW55 — Otavio (Tavi) Costa (@TaviCosta) September 16, 2019 2. CITI: “It may be that … Read more

RAN says NO MORE TALKS!

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JUST IN: Iran's supreme leader rules out talks with US at all levels https://t.co/K5aavtOtvB pic.twitter.com/d6U2XGybRH — The Hill (@thehill) September 17, 2019 Iran’s supreme leader on Tuesday reportedly ruled out any talks with the U.S. amid increased tensions between the two nations in the wake of crippling attacks at oil facilities in Saudi Arabia. “There … Read more

Dollar Funding Storm Just Made Landfall, Fed May Need To Restart QE Very Soon

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from Zero Hedge Late last Friday, we warned that a “dollar funding storm” is set to make landfall in the US amid a series of converging sources of pressure that we said would result in “secured funding markets breaking higher”, among which: elevated UST supply, bloated dealer balance sheets and year-end regulatory constraints, and a banking … Read more

Ron Paul: Will Trump Take Neocon Bait and Attack Iran Over Saudi Strike?

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by ron paul The recent attacks on Saudi oil facilities by Yemeni Houthi forces demonstrate once again that an aggressive foreign policy often brings unintended consequences and can result in blowback. In 2015 Saudi Arabia attacked its neighbor, Yemen, because a coup in that country ousted the Saudi-backed dictator. Four years later Yemen is in … Read more