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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Surging prices are a demand killer, but real estate industry laments the medicine didn’t work. The relentlessness of falling home sales is starting to baffle the real estate industry that had expected plunging mortgage rates to fire up sales: Across the US, sales of “existing homes” (previously owned single-family houses, townhouses, … Read more
by Michael Snyder We have raised an entire generation of Americans that have no respect for the law, and now we are reaping what we have sown. I cannot even begin to tell you how alarmed I am by some of the videos that I have been watching lately. As you will see below, all … Read more
(Bloomberg) — Major economies around the globe all seem to covet a weaker currency as risks to growth mount. That makes engineering a lower dollar, euro or other heavyweight all the harder. President Donald Trump has repeatedly badgered the Federal Reserve to cut rates and complained that the U.S. dollar is too strong. But he’s … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter In their most important market, the plunge in registrations far outpaced their already stunning global decline. Which opens a whole new question. The Model S and the Model X are Tesla’s high-dollar high-margin vehicles. Some versions clock in at over $100,000. Sales of them have been declining globally ever since the … Read more
Pelosi pushes resolution in the House, while she violates the rules. The [DS] is getting ready to push their real candidate out. Investigative reporters dig deep into Rep. Omar’s past. [PP] is in the news. Another part of the Witch Hunt comes to end, Judge orders all information made public. Flynn is back in the … Read more
Richmond Fed Manufacturing survey order backlog index collapses to its lowest level since April 2009 and has contracted now for eight months in a row for the first time in five years. Still think this is just going to be one single “insurance” Fed rate cut? pic.twitter.com/llppFBO89t — David Rosenberg (@EconguyRosie) July 23, 2019 PHLX … Read more
https://www.youtube.com/watch?v=eenv6SUw3ag Apple may be closing a billion-dollar deal to buy Intel’s modem business. RT America’s Michele Greenstein joins Rick Sanchez to discuss how the deal will position Apple to develop its own 5G modem in the future, giving it the patents, IP and talent hitherto belonging to Intel.
Junk food brands love to associate themselves with sports to improve their brand image.
C-Span piece from 2013. Haven’t heard much chatter about this; can’t be good for business. https://www.c-span.org/video/?c4455340/irs-head-steve-miller-admits-income-taxes-voluntary h/t MrJDouble
by Tha_Dude_Abidez John McAfee is threatening to do a document dump. He’s already dropped info on some agents in the past few weeks on his twitter. He’s fled on a boat to try and evade capture but it appears he’s now being taken into custody. It’s be interesting what his dead man’s switch is. … Read more
by Keith Weiner of Monetary-Metals Folks in the liberty movement often say that the economy is fake. But this does not persuade anyone. It’s just preaching to the choir! We hope that this series on GDP provides more effective ammunition to argue with the Left-Right-Wall-Street-Main-Street-Capitalists-Socialists. We frame it that way, because nearly everyone loves to tout GDP (though some do so only when it … Read more
UBS CEO Warns of ‘Dangerous’ Bubbles Spurred by Central Banks (Bloomberg) — UBS Group AG’s chief executive officer is sounding the alarm on fresh monetary easing just as European policy makers appear poised to deliver another helping to stimulus-hungry markets. “I’d be very, very careful about growing further the balance sheet of central banks,’’ Sergio … Read more
From MarketWatch: First the good news: As you know, the stock market has surged for more than a decade. Since the recession low of March 9, 2009, the S&P 500 has rocketed from a devilish 666 to over 3,000 today. That’s a gain of 350% in 10 years. Talk about building wealth. Now the bad news: This … Read more
by DCG This is not from The Onion. From MyFoxChicago: Criminal activity has been officially canceled in one suburban Chicago town due to the extreme heat that’s cooking most of the country. “It is just too hot to be outside committing crimes,” the Park Forest Police Department said on Facebook Friday. “We’re asking all aspiring criminals, seasoned veterans, … Read more
by Simon Black In 1993, William Kurt Hauser, a San Francisco investment analyst, presented his results from an incredibly interesting study. Hauser had analyzed tax revenues in the United States over time and came to the conclusion that tax revenue as a percentage of GDP had remained around a narrow band of 19% since 1946. That … Read more
THE MONOPOLY MONEY THEORY OF GOVERNMENT: Print it, and they will spend. Sadly, there’s nothing new or uncommon with this kind of thinking. h/t SG
Over the weekend, young toughs with buckets full of water randomly soaked cops in Harlem and Brownsville just for the hell of it. At one point, an officer got conked on the head by an empty plastic bucket — to the vast amusement of jeering onlookers. It was apparently an internet challenge sort of thing — and … Read more
A corrupt judge had to be dragged out of a courtroom by police to begin her prison sentence. Juvenile judge Tracie Hunter began her six months jail sentence Monday for illegally giving her brother, a former government employee, confidential records to help him keep his job in Hamilton County, Ohio. The packed courtroom erupted into … Read more
Watch the latest video at foxnews.com Maybe you’ve noticed this from watching TV in the past couple of years. When it’s about tax returns or executive orders, or of course, Russia, the left strikes a law and order pose. Nobody, they’ll remind you — finger wagging in your face — is above the law in this … Read more
China June pork imports surge 62.8% from a year earlier. BEIJING (Reuters) – China’s pork imports in June surged from the previous year, customs data showed on Tuesday, as the world’s top consumer of the meat stocked up on supplies after African swine fever has decimated domestic pig herds. China brought in 160,467 tonnes of … Read more