China’s former chief trade negotiator has hit out at Beijing over its approach to the US trade war, saying it’s not thinking “deeply enough” about it. “If we have people who always talk about politics engaging in negotiations, we will never have a deal,” Long Yongtu said on Sunday. Long’s comments come as tensions between … Read more
via zerohedge: Just when Deutsche Bank probably thought the worst of its legal troubles (over the Libor scandal, sales of shoddy mortgage-backed securities, FX and precious metal rigging which collective resulted in tens of billions in legal fines) were behind it, the struggling German lender is being drawn deeper into the biggest money laundering scandal in European … Read more
For all this talk of RU and China dumping UST like their holdings are going to zero1. Russia isn't even in the top 30 (what they hold is negligible) 2. China UST holdings still outweigh the rest of the planet (as far as foreign holders of UST are concerned) pic.twitter.com/23UPSFa7T4 — Tracy Shuchart (𝒞𝒽𝒾 ) … Read more
via mises: Are the Chinese Keynesian? We can be reasonably certain that Chinese government officials approaching middle age have been heavily westernised through their education. Nowhere is this likely to matter more than in the fields of finance and economics. In these disciplines there is perhaps a division between them and the old guard, exemplified and … Read more
General Electric stock has fallen to single digits and its investment grade bonds trade like high-yield debt, as the market bets it will continue to deteriorate and could end up with a junk rating. GE was a negative factor in the sell off in both the investment grade and high yield bond markets this week, … Read more
via nbcnews: President Donald Trump’s short-term stimulus is pushing up borrowing costs and eliminating deductions in some markets. Although growth in the housing market is slowing, the number of million-dollar homes in the United States is on the rise, creating pockets of affluence in a housing market experts say is becoming increasingly unaffordable. New research from … Read more
https://streamable.com/t0r6s Source – Federal Reserve Economic Data Tools – Python 3 + matplotlib Here is a fixed-axis version of the visualization. h/t ThePedMeister
by Frank Holmes, CEO, U.S. Global Investors Here in San Antonio, the temperature hit a bone-chilling low of 27 degrees last Wednesday, breaking a 102-year-old record for mid-November. An out-of-state visitor, Cornerstone Macro’s Head of Portfolio Insights Stephen Gregory, speculated that the Central Texas temperature, ordinarily mild this time of year, was down more than … Read more
by Lance Roberts Last week, I touched on the issue of corporate profits and tax cuts. While the promise was that tax cuts were going to a massive boost to economic growth, the reality has been quite different. To wit: “The benefit of a reduction in tax rates is extremely short-lived since we compare earnings … Read more
From the New York Times: Imagine you have to make a bet. There are two 18-year-olds, one in China, the other in the United States, both poor and short on prospects. You have to pick the one with the better chance at upward mobility. Which would you choose? Not long ago, the answer might have seemed … Read more
As stated many times that these devices are really deep state listening stations has been confirmed in a double murder case. via techcrunch: A New Hampshire judge has ordered Amazon to turn over two days of Amazon Echo recordings in a double murder case. Prosecutors believe that recordings from an Amazon Echo in a Farmington home where … Read more
by WarSanchez I think most people, even the younger generations have hear the saying “A Diamond is Forever”. It was made famous be the De Beers Group, which was at it’s peak the sole power player in the diamond market. It was founded in 1888 by Cecil Rhodes, please read his wiki, it contains a lot … Read more
by DCG The UK lost all common sense several years ago. From Daily Mail: We all know it’s irritating, unsightly and unhygienic, but one case of dog fouling has been logged by police as a racist hate crime. The incident is among numerous alleged hate crimes uncovered by The Mail on Sunday that critics say are so … Read more
Apparently, planned obsolescence is not profitable enough for the cell phone oligopoly, so they have implemented proactive obsolescence. Also, note how the US MSM largely ignored this story. via theguardian: Apple and Samsung are being fined €10m and €5m respectively in Italy for the “planned obsolescence” of their smartphones. An investigation launched in January by the nation’s competition … Read more
Apparently if you’re part of his investment “family,” not only is your account zero, you now owe money. This boy lost a lot of money. James Cordier of Optionsellers.com humbled by extreme market fluctuations in natural gas & crude oil. Apologises to his clients, who were totally wiped out in the process. It appears he … Read more
by Martin Armstrong This winter is starting off colder than the last two years. My biggest concern is that all the nonsense about Global Warming is preventing us from preparing for the real trend – Global Cooling. Even in the Bible, there is the story about Joseph warning the Pharaoh that there would be 7 years … Read more
House Intelligence Committee Chairman Devin Nunes, R-Calif., revealed the existence of a “fourth bucket” of information related to potential misconduct by the FBI that he wants declassified. On his way out as chairman, as Democrats will take control of the House next year, Nunes said his panel’s investigation into the Justice Department and FBI is … Read more
Almost a quarter mil: http://archive.is/1Ns8F Michael Avenatti’s law firm was ordered to be evicted from its California offices over unpaid rent after the judge dismissed his attempt to block the eviction, the latest setback for the embattled lawyer who was arrested on domestic violence charges earlier this week. The lawyer and his firm were … Read more
by DCG No doubt the gang member purchased the weapon in Indiana… From MyFoxChicago: A gang member from Chicago is facing charges after being found with an assault rifle Wednesday in northwest suburban Rosemont. Julio C. Perez, 30, was charged with felony counts of possession of a weapon by a felon and aggravated unlawful use of a weapon and … Read more
By Graham Summers via Gains, Pains & Capital Global growth is officially dead. The markets picked up on this first, with Copper, Lumber, Industrial Metals and other economically sensitive asset classes collapsing starting in May. Looking at those charts, it was easy to single out the Fed as the culprit, since the Fed’s hawkishness had ignited the $USD … Read more