by mark000 Gains put on since the Feb 2020 highs are all built on fantasy. NASDAQ is up +65% since its pre-pandemic high of ~9700. The mania is over. And as this current stock market turmoil continues and gets worse …
By the end of last year, the value of Hasten Carter’s cryptocurrency holdings had climbed to about $250,000. He moved to a nicer apartment, bought a new truck, and started thinking about pursuing his dream of a full-time career in …
by confoundedinterest17 The last mortgage purchase applications index from the Mortgage Bankers Association was released this morning. The headline is “Mortgage Purchase Applications Plunge 10% WoW (since the previous week). But this is called “Seasonality.” And it happens EVERY YEAR. …
by Delicious_Reporter21 Just five months after its debut, ride-hailing giant Didi Global said it plans to withdraw from the New York Stock Exchange and pursue a Hong Kong listing, a stunning reversal as it bends to Chinese regulators angered by …
Shares of China Evergrande Group, the world’s second-largest economy’s most indebted property developer, have plunged as much as 14 percent when they resumed trading on the Hong Kong Stock Exchange following a two-week suspension. Thursday’s opening bell sell-off came after …
Ryan Puplava, CEO of Financial Sense Wealth Management, discusses the events and concerns surrounding one of China’s largest property developers, Evergrande, which led to a sell-off in Chinese and global markets. Ryan also looks at a number of items creating …
by confoundedinterest17 Face it, the 30-year Treasury market is not as interesting as widely-traded as the 10-year Treasury market. But we did see some interesting revelations in today’s 30 year Treasury auction. If yesterday’s 10Y auction was blockbuster, one of the strongest …
by confoundedinterest17 Ever since the US Dollar went off the gold standard, it is only the good faith and credit of the Federal government with its taxing authority that stands behind it. Ethereum and Bitcoin and also Fiat currencies with …
by confoundedinterest17 (Bloomberg) — The dollar slipped and benchmark Treasury yields slipped to a one-month low as investors braced for Thursday’s U.S. inflation report that may give clues on the direction of monetary policy. The greenback weakened against all of its nine developed-world …
by confoundedinterest17 Euphoria! US homebuilders have been euphoric about their prospects. Unfortunately, the recent report from the Mortgage Bankers Association (MBA) raises a few questions about sustainability of the housing boom. Mortgage purchase applications on a seasonally-adjusted basis peaked in January …
by confoundedinterest17 Cryptocurrencies Bitcoin and Ethereum plunged today while gold held steady. The fact that Elon Musk shot his mouth off and cryptos took a massive beating points to the fragility of speculative assets. Bitcoin value plunged after Tesla CEO Elon …
by Michael Snyder Of all the shortages that we are currently facing, the global computer chip shortage may be the most serious. That is because the chip shortage is expected to last “a few years”, and just about every sector …
by Mac Slavo of SHTFplan The shipping industry is seeing the biggest spike in lost containers in seven years. Shipping containers are plunging into the ocean in overwhelming numbers threatening to overwhelm the supply chain and increase already rising prices. If you haven’t …
by Steve St. Angelo of SRSrocco Report After taking ten weeks for palladium to rise from $1,300 to $1,550, it only took three days to fall $205. Actually, the majority of the decline occurred over the past two days. Now, some may say …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter IPO investors tried to unload while they could. Lyft started trading today as a public company. It had lost $911 million last year. Investors have been subsidizing every ride. Outside of burning the money that its …
BY SRSROCCO After taking ten weeks for palladium to rise from $1,300 to $1,550, it only took three days to fall $205. Actually, the majority of the decline occurred over the past two days. Now, some may say that the …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Where Apartment Rents Fell & Where They Surged: March Update In San Francisco, the most expensive major rental market in the US, the median asking rent in March for one-bedroom apartments jumped 8.8% from last year …
Layoffs and closures — the beginnings of a major shakeout. By Adam H. Williams, Senior Associate at E911-LBS, LBSglobe.com, for WOLF STREET: Video games have become the largest entertainment industry worldwide by revenue: $138 billion in 2018 – beating TV ($105 billion), film …
CNBC, Released on 3/12/19 “There’s no Trump boom; we’re near the end of this cycle.” David Stockman is a former Republican congressman from Michigan and was President Reagan’s budget director from 1981 to 1985. After leaving the White House, Stockman became …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter These unsettling tidbits about sudden problems on the demand-side in China. Imports by China and other emerging Asian economies in December plunged to the lowest level in two years, in the steepest one-month plunge since 2008, …
Two pension plans in Fairfax County, Virginia are anchor investors in a new $40 million venture-capital fund, according to a statement from the company. Other investors include an insurance company, a university endowment and a private foundation, said Morgan Creek …
by John Rubino The Baltic Dry Index represents the cost of renting an ocean-going container ship to move goods from, say, Chinese factories to the Port of Los Angeles. The more stuff being made and sold, the higher the demand …
By Nick Cunningham Venezuela’s oil production could be disrupted to a greater degree than most analysts first thought, as the U.S. government seeks essentially shut in the country’s oil sector. When the Trump administration first announced sanctions on Venezuela’s oil …
by Michael Snyder Apple iPhone sales are never supposed to go down. For nearly two decades, Apple has been an unbeatable economic miracle, but now it appears that times have changed. Global sales for the iPhone were disastrous during the holiday …
by Michael Snyder It appears to be more likely than ever that the U.S. economy is heading for a recession. On Tuesday, the Dow Jones Industrial Average was down 301 points as investors were rattled by several very important pieces …
By Tsvetana Paraskova Oil prices plunged by more than 3 percent on Tuesday morning as rekindled fears of global economic growth slowdown put an abrupt pause to the oil price rally in recent days. At 11:20 EST on Tuesday, WTI Crude was …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter But first-time buyers cling to hope. Sales of newly built detached houses in Australia plunged 6.7% in December 2018 from November, to just 4,622 houses, according to the Housing Industry Association (HIA), easily whizzing by the …
Newly built home sales fall in California from CNBC. via CNBC: The government shutdown hasn’t completely stopped the flow of stunningly bad housing data. Sales of newly built homes fell 18 percent in December compared with December of 2017, according …
by Graham Summers of Gains, Pains & Capital This is getting old. The PPT is now juicing Oil higher, because doing so relieves stress in the junk bond market (a large percentage of junk bond issuers are shale companies that require higher Oil …
https://www.youtube.com/watch?v=d4X3U3dXn5M Jan. 7, 2019– Mary Greeley News – (Reuters) – Chalk it up to years of corporate disconnection from reality, but Pacific Gas & Electric (PG&E) is reportedly now facing bankruptcy after being suspected a culprit of the last devastating …