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Via The Babylon Bee MEXICO CITY—Trump recently announced new tariffs against Mexican products. Mexico was quick to retaliate by declaring a 50% increase in the spiciness of hot sauce shipped to the United States. The measure is designed to get back at Trump for his trade war by burning the mouths of all the white … Read more
China’s tit-for-tat tariffs on US-made goods have come into effect. The import tax on over 5,000 items is now 25%. READ MORE: https://on.rt.com/9vjo AC
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter The economy is in a “very good place,” says Trump’s man at the Fed. And the Fed’s favorite inflation measure ticks up. The Fed’s message has been that it may consider cutting rates if the economy deteriorates, or if inflation falls further, but the economy is currently in a “very good … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Nasdaq down 8.7% in May. S&P 500 back to Jan 2018. Russell 2000 down 15.7% from peak, back to Sep 2017. FANGMAN except Microsoft get creamed. Stocks were already gunning for the worst May since 2010 when, on the evening before the last trading day, Trump tweeted that he would impose … Read more
"Our Leading Earnings Indicator Paints a Concerning Picture of Earnings Growth" (so no 2h19 rebound?) pic.twitter.com/bzGUYkCMXz — Alastair (@StockBoardAsset) June 1, 2019 US Treasury 10yr is 2.157% or -34bps vs the Fed Fund Upper Rate of 2.5% & look at the last time it did that 🥶 You're prolly wondering why? Look at the Asian … Read more
by Stocks45 FAKE NEWS? OBLN Gets Pumped On Seekingalpha According to Tanzeel Akhtar of Benzinga, the reason for OBLN’s sudden price increase was due to a rumor started on SeekingAlpha which claimed Johnson and Johnson was considering buying OBLN for $8.00 per share. The article has since been removed, which raises some red flags. Also, if you … Read more
You don’t need to watch the video or response: Essentially the argument is China has switched to a cashless economy and will the U.S. Arguments for why the US will: 1) China has, fees are lower (Bloomberg released this video on May 20th https://www.youtube.com/watch?v=SJh_Uir5EMI&t=1s and https://www.bloomberg.com/graphics/2018-payment-systems-china-usa/) Arguments against 1) Banks are quite powerful 2) American consumer is a … Read more
May left a mark. Even before heavy losses on Friday , the S&P 500 was on track to suffer a black eye on the monthly chart in the form of a “bearish key reversal.” That’s illustrated in the candlestick chart below, from a Thursday note by George Davis, chief technical strategist at RBC Capital Markets: Key reversals … Read more
$3,550 for individuals and $7,100 for families. https://www.irs.gov/irb/2019-22_IRB#REV-PROC-2019-25
by billFoldDog I just got an email from Chase stating that the credit card agreement was changing to include binding arbitration. I have until 8/10 to “opt out” of giving up my lawful right to petition a real court for actual redress. If you have a chase credit card, keep an eye out. Update: It’s … Read more
“China said it will establish a list of so-called “unreliable” entities it says damage the interests of domestic companies, a sweeping order that could potentially affect thousands of foreign firms as tensions escalate after the U.S. blacklisted Huawei Technologies Co.” At this point in time this is just posturing since they haven’t actually done anything yet … Read more
world stocks at critical support – if level breaks, further downside coming pic.twitter.com/M2wq1jm9vk — Alastair (@StockBoardAsset) May 31, 2019 the global slowdown is real – america is not an economic island pic.twitter.com/2OTmZKQpJY — Alastair (@StockBoardAsset) May 30, 2019 and down we go pic.twitter.com/lnpegUsKcv — Alastair (@StockBoardAsset) May 30, 2019
Oops! Markets price almost 3 Fed cuts for this year. pic.twitter.com/g5lnMLv332 — Holger Zschaepitz (@Schuldensuehner) May 31, 2019
“If 50% of BBB bonds were downgraded, it would shift $1.30 trillion to junk status. Put into perspective, the entire junk market today is less than $1.25 trillion, the sub-prime market in 2008 peaked at $1.30 trillion. @michaellebowitz https://t.co/FXo9dDbCnm pic.twitter.com/5tiWEdTlIm — Lance Roberts (@LanceRoberts) May 30, 2019
via @OccupyWisdom: I. TRADE WAR THREAD Why tariffs? 1/ China has manipulated global markets for the past 3 decades with a cheap currency. This was how China was able to completely corner the world’s export market. 2/ Through dominating the export market, they have gone from irrelevant to the 2nd II. largest economy on earth. … Read more
via @RealDavidJensen: It is on – that is the bottom line. #Fed suddenly cut the Money Supply (TMS) in 2017 just like 2000 & 2007 & now the crash begins after 1 – 2 yrs. GDP, PMI, Inventories, dropping Treasury yields, etc. just lagging indicators. #markets #Finance #fx #EndTheFed Not just #bond yields caving. 2,000 share … Read more
by John Rubino A few short weeks ago, the economy seemed to be growing, the trade war looked winnable and the Mueller Report appeared to take presidential impeachment off the table. And then… The economy hit a rough patch. Auto sales are down and home sales are way down. This morning: Pending home sales fall, marking … Read more
by Jesse Colombo The U.S. automobile sales boom has been one of the most important economic growth engines since the Great Recession. The boom kicked off with the federal government’s “cash for clunkers” rebate program and was fueled by cheap auto loans and leases, which were a result of the Federal Reserve’s ultra-low interest rates … Read more
By Lisa Egan Our culture is one of convenience. Technology has made it incredibly simple to get what we want with a click of a button. We just don’t move much these days. This lack of physical activity is slowly killing us. According to a recent report by the Centers for Disease Control and Prevention (CDC), too few … Read more
I didn’t know Ben Garrison also wrote editorials! Nice! ============================================ = He should be fearful—he’s an absolute disgrace. He said he had no confidence that President Trump did not commit a crime, then he added there wouldn’t be a successful court resolution. Its Mueller’s way of saying Trump is guilty, but the legal system would prevent Trump’s prosecution. This … Read more