Mtg purchase apps, Durable goods orders, Pending home sales, Rental vacancy, International trade, Trump threat

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by WARREN MOSLER Highlights Disruption tied to a fire at an auto supplier not only pulled down the previously released manufacturing component of the industrial production report but it also helped pull down durable goods orders in May which fell an as-expected 0.6 percent. Vehicle orders fell 4.2 percent in the month with vehicle shipments down 4.4 percent. … Read more

Nomura: Here Is The Real Reason Behind The “Global Growth Scare”

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via ZeroHedge When discussing how the current market has changed in the past year, Morgan Stanley’s cross-asset strategist Andrew Sheets said yesterday that one of the things that stood out to him at recent meetings with clients and conferences is that “China is rarely mentioned as a growth concern (after causing angst for much of this period).” This … Read more

The China housing crisis builds up steam

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by Shaun Richards This morning has brought news of something which would bring a chill to the heart of any central banker. It comes from China as we note this from Reuters.  So far this year, the Shanghai stock index is down 14 percent, the CSI300 has fallen 12.4 percent while China’s H-share index listed … Read more

Al Sharpton received $437,555 bonus from his non-profit organization

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by DCG The Good Reverend founded his non-profit National Action Network (NAN) back in 1991. It’s designed to increase voter education and provide services to those in poverty. Sharpton has a net worth of $500,000. According to The New York Times, Sharpton and his for-profit businesses owe $4.5 million in state and federal taxes as of November 2014. Yet somehow this … Read more

Several economic indicators seem to be trending down…

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by warrenfgerald Just looking at economic headlines for the past 24-48 hours…. Mortgage applications… Down. Existing home sales… Down. Durable goods orders…. Down. Consumer confidence…. Down. Pending Home Sales… Down. What is up?… New Home Sales…. Up. Conference Board Leading Economic Indicator Index…. Up. Jobless claims…. Down (which is good). It’s only one day’s worth … Read more

A Chinese Tech Wreck Is Crushing Emerging-market Stocks

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via BBG  Investors fretting over the recent drop in emerging-market stock indexes may find comfort by drilling down into the details. Since June 18 — the evening U.S. President Donald Trump seemed poised to escalate the trade war by pledging tariffs on an additional $200 billion in Chinese exports — through Tuesday, the MSCI Emerging Market Index … Read more

How Bank Lending Really Creates Money, The Topic We All Need to Know More About

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via forbes: According to a poll conducted by City AM on behalf of the “sovereign money” advocates Positive Money, 84% of British lawmakers don’t know that banks create money when they lend. This is despite the fact that in 2014, the Bank of England produced a definitive statement to that effect. Shocked by politicians’ ignorance, The Guardian’s Zoe Williams took … Read more

Trey Gowdy OWNS Clueless DHS Expert On Firearms And Constitutional Rights

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by Thinker What were the Obama/Clinton administration doing for Americans? Congressman Trey Gowdy has been exposing corruption since 2011, from many organizations in Washington D.C. but everyone now knows why no one was punished. NSA, CIA, FBI bias? The most corrupt politicians are calling for guns to be confiscated, because they are the ones with … Read more

Witness To Pope’s Arrest Speaks Out

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Pope Francis wanted on charges of unspeakable crimes against humanity including murder…pedophilia…child trafficking…rape…torture…occultism…Satanism…we are just hours away from his arrest in Geneva. The man who plans to witness justice being served will be here to break it all down. Plus… The long anticipated Inspector general’s report is out. It’s a smoking gun proving that information … Read more

Fake conservative George Will urges voting against Republicans in November midterm elections

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by Dr. Eowyn In just 1½ years as President, Donald Trump already has achieved more than Obama in eight years, including: Economy: Unemployment has fallen to 3.8% in May 2018, which is effective full employment. Worker productivity increased 3% in the third quarter of 2017, far above the 1.2% average of the Obama years. The number of … Read more

John Williams: Fed Flirting With Massive Sell-off in Dollar, Real Inflation Rate 10% Squeezing Consumers

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Economist John Williams sees a declining economy and says, “This is what I see happening. As the economy turns down, that’s a negative for the dollar. Most importantly here, if the Fed backs off its tightening and moves back towards quantitative easing, and their minutes allow for it . . . they’re going to do … Read more