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By Tsvetana Paraskova OPEC’s key ally in all production cut agreements since 2017—Russia—appears to have somewhat reluctantly agreed to cut output in each of the OPEC/non-OPEC pacts over the past two years. Now that the next OPEC and allies’ meeting at the end of June is set to discuss a potential production increase to offset … Read more
Watch the latest video at foxnews.com Rep. Alexandria Ocasio-Cortez blamed Twitter’s character limitations — and the reading skills of her critics — after getting called out for spreading misinformation about the newly signed abortion ban in Alabama. The New York Democrat used the social media platform to criticize the law, which was signed by the … Read more
SACRAMENTO, Calif. (AP) – The Trump administration cancelled nearly $1 billion in federal money for California’s high-speed rail project Thursday, further throwing into question the future of the ambitious plan to connect Los Angeles and San Francisco. The Federal Railroad Administration’s announcement it would not give California the money came several months after sniping between … Read more
Remember the text messages between Strzok and Page on March 14th, 2016, where they are discussing “their guy now talking”? That was the same day I met Mifsud in Rome. Conspiracy is a hell of a charge. It’s coming down on a lot of these freaks. — George Papadopoulos (@GeorgePapa19) May 16, 2019 The Italian … Read more
Financial Survival Network, Released on 5/16/19 It’s no secret that the average worker’s income has remained stagnant for decades. This has happened in the face of rising productivity and technological innovation and increased corporate profits. So what’s a politician to do? Impose tariffs and blame the Chinese. At least that’s what Danielle is thinking. At … Read more
by Simon Black The banking scandals are all starting to blur together. When I heard that five big banks were fined by regulators today, I had to think… Was that the scandal over employees creating fake accounts? No. Was it the scandal over recommending investments “highly likely to lose value”? No, not that one either. Today’s fine didn’t … Read more
by Shaun Richards The credit crunch has in many ways been a story of the banks and a major banking crisis. All these years later after a proliferation of promises about reform we find that we have not truly shaken the issues off. One of the worst cases of this is Italy that has a … Read more
by Shaun Richards Today I intend to look at a subject which gets bandied about a fair bit but is not always well explained. Along the way we find that some of our regular themes and subjects are in play here. Whilst the concept of risk off may look simple we have learnt in the … Read more
by Jesse I wanted to call your attention to this story about brazen manipulation in the forex exchange markets by the Banks for three reasons: 1. The markets are too large to be manipulated. When accusations of market manipulation are made, spokesmodels and apologists will dismiss them by saying ‘the market is too big to be manipulated’ … Read more
by Frank Holmes, CEO, U.S. Global Investors As the U.S.-China trade spat drags on, so too could the stock market volatility that has accompanied it so far this month. The S&P 500 and Dow Jones Industrial Average both fell 2.4 percent on May 13 – their worst days since January. The longer trade negotiations remain … Read more
By Rodney Johnson The week before we married (and long before we had our first baby), almost 30 years ago, my new boss turned to me and said, “Son, you’re never richer than the day before you get married.” Hmm. For the next three years, I was reminded daily of his words. Decisions that I made … Read more
By David Stockman When the Wall Street chart-monkeys get vertigo on steroids—cliff-diving one day and ripping higher the next— they eventually become foaming-at-the-mouth-manic. That’s happening right now. And when the final blow-off mania arrives, that’s exactly when Wall Street bubbles are about to collapse. So it’s time for a plan on how not to become: COLLATERAL DAMAGE. As the markets … Read more
by Lance Roberts At the beginning of this year, I was at dinner with my wife. Sitting at the table next to us, was a young financial advisor, who was probably in his mid-30’s, meeting with his client who appeared to be in his 60’s. Of course, the market had just experienced a 20% correction … Read more
by Michael Snyder Living on the edge, being dragged down by debt, and having little hope for the future is no way to live. But that is precisely where most Americans find themselves in 2019. Despite a supposedly “booming economy”, the middle class continues to shrink and most of the country is barely scraping by … Read more
by Michael Snyder Global economic activity has already been slowing down dramatically, and the U.S. trade war with China is just going to make things worse. In so many ways, what we are witnessing in 2019 is quite reminiscent of what we witnessed as the last recession was beginning. Global exports are absolutely plummeting, auto … Read more
Like the mortgage crisis never happened. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. As the UK housing market is facing serious challenges, a high-risk relic of the last housing bubble is staging a big comeback: the interest-only mortgage. This financial product, often held up as the epitome of irresponsible lending, is hitting the … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Retail space asking rents plunge as landlords try to fill scores of vacant shops. The average asking rent on Madison Avenue between 57th Street and 72nd Street, a prime shopping corridor in Manhattan, plunged 25% over the past 12 months, to $1,039 per square foot, and is down 37% from three … Read more
The Conservative Treehouse and The South China Morning News reported: A former official in the Trump administration has said that China can weather the storm brought by the trade war with the United States but might have to “keep steady, keep their heads down and wait” for change in the White House. Susan Thornton, former acting assistant secretary … Read more
Colorado Secretary of State Jena Griswold announced Thursday that her staff was banned from traveling to Alabama after the state signed into law the toughest abortion law in the nation. “I’m calling for a boycott of Alabama,” Griswold wrote in a tweet. “Until Alabama allows for safe & legal access to health care for women, I … Read more