Authored by Michael Krieger via Liberty Blitzkrieg blog, ZUCK: yea so if you ever need info about anyone at harvard ZUCK: just ask ZUCK: i have over 4000 emails, pictures, addresses, sns FRIEND: what!? how’d you manage that one? ZUCK: people just submitted it ZUCK: i don’t know why ZUCK: they “trust me” ZUCK: dumb… Read More
Like a fine wine, stories about Lenny Dykstra only get better as he ages. Case in point: NJ.com reports that Dykstra was found dumpster diving for 9 hours outside of a Jersey Mike’s sub shop in Linden, New Jersey, over the weekend. Also case in point: He was looking for his false teeth. Also also… Read More
Authored by Michael Snyder via The Economic Collapse blog, The U.S. trucking industry has not experienced a downturn of this magnitude since the last financial crisis, and this is one of the clearest signs yet that the U.S. economy is steamrolling into a severe economic downturn. <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> When economic activity is increasing,… Read More
Deutsche Bank is so consistently mired in scandal that it’s almost impossible to keep all of the myriad civil lawsuits and criminal investigations straight. And while Congress ramps up its scrutiny of the embroiled German lender and its ties to the Trump family, the New York Times dropped a lengthy report late Wednesday claiming that… Read More
UPDATED for imminent rate cuts and latest FOMC statement (June 19) Rate cuts will be insurance against whatever “trade wars” will throw at the global economy. That’s the current line from monetary officials in the US, anyway. The real question to ask is, how would they know? Starting with trade wars. Is that really what’s… Read More
Via InternationalMan.com, An epic gold bull market is on the menu for 2019. <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> I’m not talking about a garden-variety cyclical gold bull market, but rather one of the biggest gold manias in history. This gold mania will be riding the wave of an incredibly powerful trend… the re-monetization of gold.… Read More
John Williams suggested a few weeks ago that the Fed wouldn’t be beholden to bond markets. As Bloomberg’s Cameron Crise noted earlier, Williams “was wrong.” The ultimate justification for the change in tune looks to be a downgrade to the inflation profile, even though just six weeks ago the inflation shortfall was deemed to be… Read More
Jay Powell has had his mind changed for him. Why? Not even a year ago he was downplaying things like federal funds. The rise in that one anachronistic rate was inconsistent with a healthy financial system poised for the good times that come with serious economic acceleration. Quite the opposite, actually. To dismiss the obvious… Read More
This post 5 Things You’re Probably Spending Too Much On… appeared first on Daily Reckoning. When planning on how much to save for retirement, you first need to know how much you’ll spend. The general rule is that you’ll need 70% to 80% of your pre-retirement income to maintain your standard of living. However, a… Read More
The political moment when the “losers” connect their discontent and decline with central bankers is approaching. The Ruling Elites’ Chattering Classes still haven’t absorbed the key lesson of the 2016 U.S. presidential election: the percentage of the populace that’s becoming wealthier and more financially secure in the bloated, corrupt, self-serving Imperial status quo is declining and… Read More
Having managed to leave stocks down 9 of the last 10 of his FOMC meetings, Fed Chair Powell has his work cut out explaining why – aside from some transitory inflation prints – he has set The Fed on its latest rate-cut cycle… <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> Just keep jawboning… <!–[if IE 9]><![endif]–><!–[if IE… Read More
Not priced in… The Fed shifted its dot plot notably lower – though 2019 median remains unch – and that has sent bond yields and the dollar careening lower…. Dollar dumped to one-week lows… <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> 10Y Yields plunged to yesterday’s intraday spike lows… <!–[if IE 9]><![endif]–><!–[if IE 9]><![endif]–> The major stock… Read More
Vancouver housing bubble sags. Toronto down 3.4% from peak. Calgary and Edmonton back to 2007. Montreal sets new record. National index ticks up the least for any May in 21 years of data. Home prices across major metros in Canada ticked up 0.5% in May from the prior month, the slowest rise for any May… Read More
[Reuters] Fed holds rates steady, signals cuts possible later this year [CNBC] Fed holds rates steady, sees no cuts in 2019 [Reuters] Banco do Brasil’s unsecured debt with Odebrecht at $1 billion: CEO [Bloomberg] Fed Leaves Rates Unchanged, Scraps ‘Patient’ Approach in Prelude to Possible Cut [Bloomberg] Pimco Says the Strong Dollar’s Run Is ‘Close to the End’ Source: creditbubblebulletin.blogspot.com
With stocks 1% away from record highs and bond yields (and the curve) tumbling as market expectations for multiple rate-cuts surge, Fed Chair Powell is going to have to thread a very fine needle today – shifting Fed indications towards the market’s view without panicking markets over “what he knows that we don’t.” And of… Read More