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by Fabius Maximus Summary: America is on the brink of radical changes resulting from decades of almost open borders. Only fast and effective policy action can prevent irreversible and ugly results. We successfully handled a similar situation in the past, and can do so again. ID 40796151 © Rawpixelimages | Dreamstime. The challenge The Census 2010 … Read more
“Growth of business activity slowed sharply in May as trade war worries and increased uncertainty dealt a further blow to order book growth and business confidence. “A decline in the headline ‘flash’ PMI to its lowest for three years pushes the survey data down to a level historically consistent with GDP growing at an annualized rate … Read more
via Ron Paul Institute: President Donald Trump is participating in a “disturbing trend,” dating back to the Woodrow Wilson presidency, of United States presidents acting to expand presidential power beyond what is prescribed in the US Constitution, declares Fox News Senior Judicial Analyst Andrew Napolitano in a new episode of his Fox News video editorial series … Read more
Japanese investment firm Recruit recently announced a $250,000 investment into blockchain startup COTI. The investment was made through Recruit’s RSP Blockchain Tech Fund, which was created to focus on promising business models and projects based on blockchain technology. The investment will enable COTI to move further into Asian, and specifically Japanese, markets with its payment … Read more
by Michael Snyder Slowly but surely, Wall Street is starting to understand that the good times are over. For months, most investors were absolutely convinced that the U.S. and China would be able to work out a trade deal because the alternative would simply be too painful for both sides. But now trade talks are completely … Read more
by Michael Snyder If China wants to cause a massive amount of pain for the U.S. economy in this trade war, they certainly have the firepower to do so. Today, China accounts for more than 80 percent of the world’s rare earth element production, and approximately 80 percent of the rare earth elements that are … Read more
TradersChoice.net, Released on 5/23/19 Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate … Read more
ITM Trading, Released on 5/22/19 Many people think that the current fiat money regime can go on forever and point to Japan as a prime example. Afterall, their economy collapsed in the early 1990’s after decades of rapid economic growth. In 1992 the BOJ began a never ending series of “extraordinary policy” as they experimented … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter These are just the “Flash” Purchasing Managers’ Indices (PMI) which are reported a week before the final PMIs at the end of the month, and they represent just one view, but these are big moves, both, in US manufacturing and US services, big moves in the wrong direction, simultaneously, with both … Read more
by Michael Every of RaboBank via Zerohedge It’s hard to keep up with all the escalation. Yesterday morning Asian time the worry was that the US was about to turn its fire on Chinese surveillance-camera maker Hikvision, which would obviously have proved damaging to that PLA-linked firm. Yesterday evening the US instead shifted its attention … Read more
by visualcapitalist When people think of freedom, they often think it in the physical sense, such as the ability to act and behave in certain ways without fear of punishment, or freedom of movement within one’s country. When a nation chooses to restrict freedom in the physical world, the results are often hard to ignore. … Read more
by Hashslingingslashar Summary of changes: – repeal the age cap for contributing to individual retirement accounts, currently 70½. – increase the age to start taking required withdrawals from 401(k)s and IRAs to 72 from 70½. – encourage 401(k)-style plans to offer annuities by giving certain employers some protection from future liability if their … Read more
via Ian Welsh: Horowitz calls it a tech cold war, but it is unlikely to stay that way. Cutting Huawei off from all non-open source Google services, including the play store, and not allowing it to buy US components is a huge blow to Huawei. Huawei is ahead in 5G, and American allies have been reluctant … Read more
A sizable drop in mortgage interest rates didn’t do much to help home sales in April, as high prices and tight supply at the low end of the market continued to sideline buyers. Sales of existing U.S. homes fell 0.4% in April compared with March to a seasonally adjusted annualized rate of 5.19 million units, … Read more
by Charles Hugh-Smith If China wants superpower status, it will have to issue its currency in size and let the global FX market discover its price. Quick history quiz: in all of recorded history, how many superpowers pegged their currency to the currency of a rival superpower? Put another way: how many superpowers have made their … Read more
Markets needed it b/c the USD is important (see thread why) & because of this: a) Global growth 📉 (we got EU May flashes today 🤗) b) Asian growth not great, esp investment, which is 📉 & that’s not good news for future growth c) Trade-war ON d) Brexit & EU Elections 😬 — Trinh … Read more
via @Trinhnomics: Chart is from 2017 but hasn’t changed too much 👇🏻. Foreign is 30% of total & so China is roughly 6% of total ownership of UST. Don’t forget that Americans own most of US debt👇🏻 (private sector stepping up to replace 📉of foreign buyers https://t.co/c3lndWpcs1
by jmremote Just posting in case this may help someone else. My son had a procedure last year month and with my high deductible insurance, I owed $3700. While I could have probably paid in full I wanted to work out a payment plan since I know hospitals will work with you interest-free for a … Read more
“She treats me as she might treat her maid or her pilots or makeup artists or her wardrobe consultants.” h/t CK
from Zero Hedge When Deutsche Bank CEO Christian Sewing told Deutsche Bank shareholders at the bank’s annual general meeting this morning that he was prepared to make “tough cutbacks” at DB’s struggling investment bank, he wasn’t kidding. Four sources familiar with the bank’s thinking reportedly told Reuters that the bank is planning serious cuts at its US equities business, including … Read more