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by John Ward The United States has stepped into the Huawei row and played the ‘No Huawei or no Intelligence’ card. Whether that gains any traction or not with the British Government, it’s obvious that The People don’t count in the assessment of whether to let the contract go ahead. The UK is sliding gently into … Read more
by Shaun Richards Today brings Italy into focus as we find out how it did in the first three months of this year. The mood music has been okay ( 0.3% GDP growth in France) and really rather good ( 0.7% GDP growth in Spain) but we are of course looking at the country described … Read more
https://www.youtube.com/watch?v=JGcYFK5-M64 The numbers are fudged..has any govt ever…gave a warning before a recession? I rest my case..
by Michael Snyder Someday a giant meteor will slam into the Atlantic Ocean, and the colossal tsunami that is produced will wipe out most of the people that are living along the east coast. In 1998, a big Hollywood movie entitled “Deep Impact” imagined what such an event would look like, and scientists assure us … Read more
by Charles Hugh-Smith Working hard and doing what you’re told is no longer yielding the promised American Dream of security, agency and liberty. Volume One of Fernand Braudel’s oft-recommended (by me) trilogy Civilization & Capitalism, 15th to 18th Century is titled The Structures of Everyday Life. The book describes how life slowly became better and freer as the … Read more
by Natura Naturans Is Oroville dam going to fail AGAIN? This article notes it is leaking in the same places it did in the last failure under the spillway: March 18, 2019 Complete failure at Oroville Dam By Chriss Street The $1.1 billion spent to repair Oroville Dam is failing as water is seeping through the … Read more
Link: https://www.wsj.com/articles/dow-2400-anyone-11556549091 Moore said that if Trump loses the Dow will crash 91%. Obviously, this is bullshit, but markets do not like it when the Fed’s independance is threatened, and it seems like the nominee has a lot of political bias. Do you think this news will affect the market in any way? Not because of … Read more
In this Special Episode of Hidden Forces, Demetri Kofinas speaks with Kevin Smith and Otavio Costa of Crescat Capital, in a continuation of our recent markets coverage, with a particular focus on specific indicators that could validate a bear market hypothesis. It has been difficult not to feel anxiety and trepidation while looking out across … Read more
via @Schuldensuehner: #WeWork filed confidentially w/ the Securities and Exchange Commission in Dec. Shared office provider was last valued at $47bn. https://www.wsj.com/articles/wework-files-for-initial-public-offering-11556566087 …
via @staunovo: IMF’s latest fiscal break even oil prices: -Saudi Arabia USD 85/bbl -U.A.E. USD 65/bbl -Iraq USD 64/bbl -Kuwait USD 49/bbl -Iran USD 126/bbl
What is going on with Tesla in China? Global Times (aka the Chinese Communist Party) reports on “Chinese car hailing company demands compensation from Tesla in Times Square, NYC” According to information released by the company, Shenma Zhuanche is the biggest buyer of Tesla cars in the Asian Pacific region, having purchased 278 vehicles from … Read more
via CNBC: Federal Reserve economists have floated the idea of a “standing repo facility” which would allow banks to exchange Treasurys for reserves. The idea would be to get banks to hold fewer reserves, and thus would help the Fed in its quest to shrink its balance sheet. There’s considerable support for the plan, but … Read more
via CNBC: Economic forecaster Lakshman Achuthan is warning Wall Street that the market’s new highs don’t signal a revitalized growth cycle. Achuthan, co-founder of the Economic Cycle Research Institute, believes it’s not an ideal environment for sustainable gains. “All the optimism is really in these risk-on assets,” he said Wednesday on CNBC’s “Trading Nation. ” … Read more
via CNN: London (CNN Business)Deutsche Bank is in rough shape and its leadership has gone silent on their plans for the future. First quarter results from Germany’s largest bank on Friday showed that revenue is falling faster than costs, one day after merger talks with crosstown rival Commerzbank (CRZBF) were called off. Yet CEO Christian Sewing has been … Read more
From Wall Street Journal: Uber and Lyft each provide substantial discounts and incentives to riders, which subsidize the cost of trips and encourage usage. But they don’t account for these amounts in their sales numbers. Instead they categorize them as marketing expenses. That inflates reported gross profits and distorts common analyses of the companies’ unit economics. … Read more
LOS ANGELES (CNS) — The median price of a Los Angeles County home rose by 2.1 percent in March, compared to the same month a year ago, despite median prices across Southern California dropping for the first time in seven years, according to figures released Friday. According to the CoreLogic real estate information service, the … Read more
via themarketear: Wilson´s worried: 1. We do not change our broader call for a multi-year trading range of 2400 – 3000 for the S&P. With valuations at the high end of fair value and continued conviction that earnings estimates still need to be lowered, we would avoid betting on a melt up 2. The high … Read more
https://finance.yahoo.com/news/vanguard-drops-hammer-etf-fee-143705599.html On April 26, Vanguard said it’s lowering fees on 21 of its ETFs, including its two largest funds, the Vanguard S&P 500 ETF (NYSE: VOO) and the Vanguard Total Stock Market ETF (NYSE: VTI). VTI and VOO are the third- and fourth-largest U.S.-listed ETFs, respectively, and are two of the four ETFs with more than $100 billion in … Read more
Record valuations and leverage alone do not make a market top. Add macro timing: -Faltering consumer confidence-Liquidity drying up-Negative economic surprises-EPS growth deceleration-Yield curve inversions-Extreme VIX short-China shocks to comehttps://t.co/9DrQo35QlK — Kevin C. Smith, CFA (@crescatkevin) April 26, 2019 The recipe for a hard landing: Historical global debt imbalances.Record overvalued assets prices.Faith in central banks … Read more