• 'Greenland Block' Could Pour Arctic Air Across EU In First Proper Test Of Power Grids
    by Tyler Durden on December 1, 2022 at 7:45 am

    'Greenland Block' Could Pour Arctic Air Across EU In First Proper Test Of Power Grids Temperatures across Northwest Europe are set to dive well below average for the first half of December as an Arctic blast will be the first real test for the energy-stricken continent's power systems.  Bloomberg data shows average temperatures will begin sliding Wednesday under a 30-year trendline of about 40 degrees Fahrenheit to 27 degrees by the midpoint of December. This means that temperatures will be 10 degrees below the historical average, a sure sign that heating demand will rapidly […]

  • US Approves Heavy Weapon Sales To Newest NATO Applicant
    by Tyler Durden on December 1, 2022 at 7:00 am

    US Approves Heavy Weapon Sales To Newest NATO Applicant Authored by Will Porter via The Libertarian Institute,  The US government has authorized a flurry of arms sales to European allies in recent weeks, including more than $850 million in advanced missiles and rockets to Finland, which is currently seeking to join the NATO military alliance. The US Defense Security Cooperation Agency (DSCA) outlined the latest sale to Finland on Monday, noting that the State Department has approved a deal for 40 AIM-9 Sidewinder missiles and related guidance units, as well as 48 AGM-154 […]

  • The Evil Of The Political Left Is Rooted In Their Exploitation Of Tragedies
    by Tyler Durden on December 1, 2022 at 4:45 am

    The Evil Of The Political Left Is Rooted In Their Exploitation Of Tragedies Authored by Brandon Smith via Alt-Market.us What is the root of all evil?  Money?  No, not really.  Money is just a tool, like a hammer, a wrench or even a gun.  When I think of evil I don't envision a handgun or a rifle or a big pile of hundred dollar bills.  Instead, I see nightly news talking heads spreading disinformation and fear.  I see mobs of over-emotional and ignorant activists setting fire to buildings, tearing things down because they don't know how to build anything useful and new.  […]

  • Miami Nightclubs Are Starting To Miss Rich Crypto Nerds
    by Tyler Durden on December 1, 2022 at 4:25 am

    Miami Nightclubs Are Starting To Miss Rich Crypto Nerds Among all those suffering from the chaos in crypto...we can't forget about Miami nightclubs. Yes, apparently the South Beach hotspots are starting to miss the business young awkward crypto millionaires and billionaires, according to a new report from FT. The clubs had formerly been "inundated with phone calls from cryptocurrency entrepreneurs that no one had heard of," the report says. Those days are long gone. When bitcoin was at $60,000, however, there seemed to be an endless supply of crypto geniuses who were eager to […]

  • Escobar: The Global South Births A New Game-Changing Payments System
    by Tyler Durden on December 1, 2022 at 4:05 am

    Escobar: The Global South Births A New Game-Changing Payments System Authored by Pepe Escobar via The Cradle, Challenging the western monetary system, the Eurasia Economic Union is leading the Global South toward a new common payment system to bypass the US Dollar... The Eurasia Economic Union (EAEU) is speeding up its design of a common payment system, which has been closely discussed for nearly a year with the Chinese under the stewardship of Sergei Glazyev, the EAEU’s minister in charge of Integration and Macro-economy. Through its regulatory body, the Eurasian […]

  • Number Of Handgun Owners Carrying Daily Nearly Doubles In US
    by Tyler Durden on December 1, 2022 at 3:45 am

    Number Of Handgun Owners Carrying Daily Nearly Doubles In US A new study published in the American Journal of Public Health revealed the number of law-abiding Americans carrying a loaded handgun daily nearly doubled between 2015-19.  The study titled "Trend in Loaded Handgun Carrying Among Adult Handgun Owners in the United States, 2015‒2019" found the number of law-abiding US adults carrying handguns nearly doubled from 9 million in 2015 to 16 million in 2019. "Proportionally fewer handgun owners carried handguns in states where issuing authorities had substantial […]

  • 42 Biden Admin Officials Put On Notice By House Republicans
    by Tyler Durden on December 1, 2022 at 3:25 am

    42 Biden Admin Officials Put On Notice By House Republicans Authored by Jack Phillips via The Epoch Times (emphasis ours), At least 42 Biden administration officials were sent letters by Republicans on the House Judiciary Committee this month requesting testimony from a variety of White House officials. Flanked by House Republicans, U.S. Rep. James Comer (R-Ky.) speaks during a news conference at the U.S. Capitol in Washington on Nov. 17, 2022. (Alex Wong/Getty Images) Those letters primarily dealt with the suspected politicization of the FBI and Department of Justice (DOJ), […]

  • 'Alien' Minerals Found On 15-Ton Meteorite That Crashed In Africa
    by Tyler Durden on December 1, 2022 at 3:05 am

    'Alien' Minerals Found On 15-Ton Meteorite That Crashed In Africa A team of researchers from the University of Alberta discovered at least two new minerals never before seen on Earth in a 15-ton meteorite that landed in east Africa. Unearthed in Somalia in 2020, the meteorite is the ninth largest ever found. When researchers sliced off a two-ounce section of the space rock, they found two new minerals named "elaliite" and "elkinstantonite." Details about the minerals remain limited.  "Whenever you find a new mineral, it means that the actual geological conditions, the […]

  • Pentagon: China Could Have 1,500 Nukes By 2035
    by Tyler Durden on December 1, 2022 at 2:05 am

    Pentagon: China Could Have 1,500 Nukes By 2035 Authored by Dave DeCamp via AntiWar.com, The Pentagon this week issued its annual report on China’s military power that claimed Beijing could nearly quadruple its nuclear stockpile by 2035, bringing it to 1,500 warheads. Current estimates put China’s nuclear stockpile at about 350, although the Pentagon claims the number has surpassed 400. Beijing has signaled it plans to increase its nuclear deterrence, but it’s not clear if they will build new warheads at the rate the Pentagon estimates. I don’t know the speed at […]

  • D.C. Think Tank Urges America To "Invest" In Zelensky's $1 Trillion Reconstruction Plan 
    by Tyler Durden on December 1, 2022 at 1:45 am

    D.C. Think Tank Urges America To "Invest" In Zelensky's $1 Trillion Reconstruction Plan  Ukrainian President Volodymyr Zelensky during a video address on Tuesday estimated it will cost more than $1 trillion to rebuild his country following the Russian assault, now over nine months in. If this number sounds absolutely shocking and unrealistic... it is, given this would be five times Ukraine's entire GDP. "The reconstruction of our country will become the most momentous economic, technological, and humanitarian project of our time. Even now, we engage dozens of our partner […]

  • Texas Parent Shocks School Board With Graphic Library Books
    by Tyler Durden on December 1, 2022 at 1:25 am

    Texas Parent Shocks School Board With Graphic Library Books Authored by Darlene McCormick Sanchez via The Epoch Times (emphasis ours), A Texas mother, frustrated by her school board’s reluctance to remove books with graphic sexual content from school libraries, found an embarrassing technique for getting board members and the public to pay attention. "Sex Is a Funny Word" is a book in the juvenile section of Patrick Henry Library, a Fairfax County Public Library, in Vienna, Va., on Oct. 4, 2022. (Terri Wu/The Epoch Times) Her unusual method may have hastened the removal of […]

  • "Crypto Bros" Dump G-Wagons And McLarens Amid Digital Asset Bust
    by Tyler Durden on December 1, 2022 at 1:05 am

    "Crypto Bros" Dump G-Wagons And McLarens Amid Digital Asset Bust Readers have been well-informed about the slide in wholesale used-vehicle prices. A combination of increasing new car and truck supply, soaring interest rates, and economic uncertainty have been drivers of slowing consumer demand. But let's concentrate on the luxury side of the used car market, where storm clouds quickly gather.  Twitter user CarDealershipGuy pointed out that a 2021 G-Wagon with only 3,330 miles just sold at auction for around $187,000. He said the latest auction figures were a 30% plunge from […]

  • "Just... Wow!": Record Numbers Turn Out For Early Voting In Georgia Senate Runoff
    by Tyler Durden on December 1, 2022 at 12:45 am

    "Just... Wow!": Record Numbers Turn Out For Early Voting In Georgia Senate Runoff Authored by Dan M. Berger via The Epoch Times (emphasis ours), Early voting in Georgia’s Senate runoff between incumbent Democrat Raphael Warnock and Republican Herschel Walker is setting records, as it did before the November general election. Georgia voters line up for early voting in the Senate runoff at the North Fulton County Annex in Sandy Springs on Nov. 29, 2022. (Dan Berger/The Epoch Times.) More than half a million of the state’s 7 million active voters had already voted as the polls […]

  • The Establishment Is Using An Ideological Monopoly In Big Tech To Maintain Control
    by Tyler Durden on December 1, 2022 at 12:25 am

    The Establishment Is Using An Ideological Monopoly In Big Tech To Maintain Control The news surrounding Elon Musk's acquisition of Twitter and the political firestorm it has caused probably hasn't escaped most people.  The platform which once represented the very root of leftist cancel culture and activist organization for attack mobs has suddenly been turned upside down.  Musk's position appears to be a simple one:  Free speech within the bounds of the law.  He has so far made good on that promise, and the leftists are losing their collective hive mind because of it. In the […]

  • How Inflation Changes Culture
    by Tyler Durden on December 1, 2022 at 12:05 am

    How Inflation Changes Culture Authored by Jeffrey Tucker via DailyReckoning.com, The midterm elections are over (no Red Wave), but nothing has changed. In fact, the Biden regime will probably become even more emboldened to pursue destructive economic policies because it will interpret the lack of a Red Wave as some kind of mandate. Every day seems to be a day of spin, with every regime apologist assuring the public that inflation is getting better. Just look at the wonderful trend line! They point to the latest inflation numbers, which were down a bit from the month prior. The […]

  • Don Lemon Denies CNN 'Was Ever Liberal' During Interview With Stephen Colbert
    by Tyler Durden on November 30, 2022 at 11:45 pm

    Don Lemon Denies CNN 'Was Ever Liberal' During Interview With Stephen Colbert During an interview on the far-left Stephen Colbert show, CNN's Don Lemon claimed that he doesn't think the network which has viciously attacked conservatives for the past several years "ever was liberal."  Colbert reacts with understandable surprise and a hint of disbelief at the notion.    While it's true that the term "liberal" in the traditional sense has barely applied to the political left in the US for decades, it's doubtful that Don Lemon is playing word games or semantics.  When he uses […]

  • Amidst The Turmoil, Don't Handcuff Twitter With Government Control
    by Tyler Durden on November 30, 2022 at 11:25 pm

    Amidst The Turmoil, Don't Handcuff Twitter With Government Control Authored by Randolph May via RealClearMarfkets.com, The Babylon Bee, the satirical website that takes aim – all too effectively in the minds of some – at over-the-top wokeness, has been reinstated on Twitter. A blaring headline from a recent Bee story: "'Twitter Is Dead,' 300 Million People Post on Twitter." A satirical zinger, indeed! And Donald Trump's Twitter account has been reinstated too – supposedly based on the results of a poll on . . . you guessed it, Twitter. Amidst the turmoil and tumult […]

  • NYC To Start Involuntarily Hospitalizing Mentally Ill Homeless People
    by Tyler Durden on November 30, 2022 at 11:05 pm

    NYC To Start Involuntarily Hospitalizing Mentally Ill Homeless People Following a steady stream of vicious attacks perpetrated by New York City's homeless, Mayor Eric Adams on Tuesday announced a new program that will involuntarily hospitalize people deemed a danger to themselves -- regardless of whether they've demonstrated a risk to others.   A statement from the mayor's office said the policy targets an "ongoing crisis of individuals experiencing severe mental illnesses left untreated and unsheltered in New York City’s streets and subways." At least 26 people have been […]

  • China And India Are Buying Russian Crude At A 40% Discount
    by Tyler Durden on November 30, 2022 at 10:45 pm

    China And India Are Buying Russian Crude At A 40% Discount By Alex Kimani of OilPrice.com The European Union on Friday once again failed to reach an agreement on a price cap for Russian oil, with the bloc's eastern-most members including Poland, Estonia, Latvia, and Lithuania objecting that the proposed $60-$70 per barrel for Russian crude is too generous and well above the rates Russia currently sells crude.   European Commission Vice President Valdis Dombrovskis has acknowledged as much, saying, “If you put the price cap too high, it doesn’t really bite. Oil is the […]

  • Zelensky 'Invites' Elon Musk To Visit Ukraine
    by Tyler Durden on November 30, 2022 at 10:26 pm

    Zelensky 'Invites' Elon Musk To Visit Ukraine Only very recently Ukrainian government officials were blasting and taking jabs at Elon Musk, but now Ukrainian President Volodymyr Zelensky has "invited" the billionaire SpaceX (and more recently) Twitter CEO to Ukraine.  Or rather, it's looking like this "invitation" is itself another sarcastic jab in response to Musk's unwavering position that compromise or negotiated settlement must be reached with Russia, in order to avoid unpredictable escalation which could spiral into WWIII. Any talk of battlefield or territorial compromise […]

  • "I Used To Be Disgusted, Now I'm Just Tired..."
    by Tyler Durden on November 30, 2022 at 10:05 pm

    "I Used To Be Disgusted, Now I'm Just Tired..." Authored by Charles Hugh Smith via DailyReckoning.com, The midterm elections, the “most important elections of our lifetimes,” are over. Whoever won, it wasn’t really going to change much. Today’s system is simply too deeply entrenched. While the much-touted differences between America’s political parties get obsessive, hysterical attention, the sameness of Imperial corruption, waste and squalor regardless of who’s in power gets little notice. Scrape away the differences — mostly in domestic and cultural issues — […]

  • "I've Had A Bad Month" - Bankman-Fried Claims "Didn't Knowingly Commingle Funds", Blames Girlfriend's Fund & "Accounting Mistakes"
    by Tyler Durden on November 30, 2022 at 9:49 pm

    "I've Had A Bad Month" - Bankman-Fried Claims "Didn't Knowingly Commingle Funds", Blames Girlfriend's Fund & "Accounting Mistakes" It appears Sam Bankman-Fried is using the 'Simple Jack' defense... Bankman-Fried started the interview by saying he's deeply sorry about what happened. “I didn’t ever try to commit fraud on anyone,” Bankman-Fried (SBF) said. He claims he was shocked by what happened this month. “I have limited access to data,” Bankman-Fried said about his attempt to reconstruct what happened over the past month. Which makes us wonder - if he […]

  • Gold Futures Surge $35, Silver Up 5% But Look At All Of Today’s Surprises
    by King World News on November 30, 2022 at 9:42 pm

    Gold futures surged $35 and silver was 5% higher as the US dollar tumbled, but look at all of today's surprises. The post Gold Futures Surge $35, Silver Up 5% But Look At All Of Today’s Surprises appeared first on King World News.

  • White House 'Welcomes' Death Of 2nd ISIS Leader In Under A Year
    by Tyler Durden on November 30, 2022 at 9:40 pm

    White House 'Welcomes' Death Of 2nd ISIS Leader In Under A Year The White House on Wednesday is hailing the death of a terrorist purported to be the latest leader of the Islamic State, though the group has long been driven underground. The Associated Press is reporting the death of Abu al-Hassan al-Hashimi al-Qurayshi. "We certainly welcome the news of the death of another ISIS leader," National Security Council coordinator John Kirby said in a press briefing. "I don't have any additional operational details to provide at this time. We're still working our way through […]

  • Washington Goes To War Against Twitter And Free Speech
    by Tyler Durden on November 30, 2022 at 9:20 pm

    Washington Goes To War Against Twitter And Free Speech Authored by Jonathan Turley, Below is my column this week on the campaign to coerce Elon Musk to restore the censorship system at Twitter. The campaign against Twitter now involves the full allied forces of the anti-free speech movement: the government, corporations, Democratic politicians, the media, and, of course, celebrities. However, it is an alliance that has proven overwhelming in the past but this unstoppable force has met an immovable object in Musk. It is total war in the beltway but Musk has yet to fully deploy […]

  • Gold Jumps 1% As Fed’s Powell Says Smaller Rate Hikes on the Way
    on November 30, 2022 at 9:04 pm

    Gold prices rose over 1% on Wednesday as the non-yielding asset races to end its best month since mid-2020 on slower U.S. rate hike expectations, further reinforced by Federal Reserve Chair Jerome Powell's comments.

  • Powell Pushes Dow Back Into Bull Market As Dollar Crashes To Worst Month In 13 Years
    by Tyler Durden on November 30, 2022 at 9:00 pm

    Powell Pushes Dow Back Into Bull Market As Dollar Crashes To Worst Month In 13 Years It's been a tempestuous month as China COVID restrictions, US inflation signals, and Fed statements and jawboning sparked various pops and drops in equities, bonds, rate-hike odds, and commodities. However, before we get to the monthly summaries, today's market moves are worth noting. Early strength in futs on more positive rhetoric on China COVID restrictions lifted... Ugly housing and PMI stalled stocks into the open... Then Andy Jassy comments smashed markets lower... and then stocks […]

  • Global Debt - The Coming Crisis: Video
    on November 30, 2022 at 8:36 pm

    Global debt is rising at the fastest pace since World War Two as economies struggle to meet the demands of high energy prices and an increasing cost of living crisis. In this video, Capital.com examines the impact of inflation and rising interest rates on government debt and whether the world could be heading for another debt-driven crisis.

  • Global Debt Costs Are Soaring: Risks Abound for Overleveraged Consumers, Companies and Countries
    on November 30, 2022 at 8:32 pm

    Bloomberg: The world is emerging from the cheap-money era with a mountain of debt that’s now getting painfully expensive.

  • Bitcoin Family Is Moving More Than $1 Million Into Decentralized Exchanges After FTX Disaster
    on November 30, 2022 at 8:21 pm

    Didi Taihuttu and his family have relocated to Phuket, and they're still true believers even after the collapse of Sam Bankman-Fried's crypto empire.

  • Feds Charge 21 People in Global Crypto Money Laundering Bust
    on November 30, 2022 at 8:21 pm

    The U.S. Attorney's Office for the Eastern District of Texas announced on Wednesday that it has charged 21 people in a crypto money-laundering network.

  • Privacy in the Digital Era: Who Controls Private Data?
    on November 30, 2022 at 8:15 pm

    "To preserve freedom for posterity, liberty minded policy makers should be working to stymie the government’s ability to capture and control data in the digital commons." ~ Leslie Corbly

  • How Long Can Silver Remain Cheap?
    on November 30, 2022 at 7:45 pm

    How long can silver remain cheap? That was a question that Jeff Clark posed in a recent article that Mike Maloney wanted to explore further.

  • Fed Officials in Danger of Splitting on Future Rate Rises, Warn Economists
    on November 30, 2022 at 7:30 pm

    Economists have warned that the united front among Fed officials is at risk of splintering, with sharper divisions emerging among policymakers over how aggressively the pressure should be on the economy to tackle inflation.

  • Euro Inflation without Energy Rages to New Record. Overall CPI Second Worst Ever
    on November 30, 2022 at 7:22 pm

    The ECB’s horror show.

  • Watch Live: Fed Chair Powell - 11/29/22 1:30pm-ET: Video
    on November 30, 2022 at 6:35 pm

    When we previewed Jay Powell's speech yesterday, we explained both why the market has been so nervous heading into (PTSD from his Jackson Hole market mauling) as well as why the blackout period that follows Powell's speech and lasts through the middle of December will be far more important for the market over the next two weeks.

  • Fed Chair Powell Says Smaller Interest Rate Hikes Could Start in December
    on November 30, 2022 at 6:34 pm

    Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as progress in the fight against inflation has largely been unsatisfactory.

  • Avoiding Recession In 2023 “Almost Impossible” | Michael Green
    on November 30, 2022 at 5:56 pm

    As we approach the end of 2022, one of the most tumultuous years for stocks & bonds in decades, investors are now turning their eyes to 2023. Will it offer relief? Perhaps recovery?

  • The Price of Oil Appears To Be Reflecting the Global Recession That’s Baked Into Receding Stimulus
    on November 30, 2022 at 5:03 pm

    It's not just the price of oil that matters: how much disposable income consumers have left to buy more goods and services matters, too.

  • Transitory Inflation Talk Is Back. But Economists Say Higher Prices Are Here To Stay
    on November 30, 2022 at 4:58 pm

    Global markets have taken heart in recent weeks from data indicating that inflation may have peaked, but analysts have warned against the return of the "transitory" inflation narrative.

  • Ugly JOLT: Job Openings Plunge By 353,000 As Hiring, Quits Tumble To Multi-Year Lows
    on November 30, 2022 at 4:55 pm

    One month after the August Jolts report showed an unexplained surge in job openings (following the dire plunge in July when nearly 1 million job openings were gone), things are reverting back to normal because after the "freak" spike in job openings in the last month of the summer which was downward revised to 407K (after the 890K drop in July)...

  • Housing Demand "Vaporized" After Rates Hit 7%...And A New Wave Of Inventory Is Next
    on November 30, 2022 at 4:50 pm

    The inventory decline this year came in two distinct phases. Between January and July, mortgage interest rates rose from 3.11% to 5.81%: a 270 basis point increase representing a roughly 32% increase in one’s monthly mortgage payment.

  • NATO Doubles Down on Pledge to Eventually Admit Ukraine
    on November 30, 2022 at 4:49 pm

    NATO on Tuesday doubled down on its pledge to eventually admit Ukraine during a meeting of the alliance’s foreign ministers in Bucharest, Romania, a position that played a major role in provoking Russia’s invasion. The Romanian city was where NATO initially made the promise to Ukraine back in 2008, and at the time, US officials …

  • Biden Admin Approves $1 Billion Arms Sale To Qatar During World Cup
    on November 30, 2022 at 4:48 pm

    The announcement of the approval by the State Department was posted during the World Cup 2022 match between the United States and Iran, held in Doha.

  • Jim Rogers: Worst Recession + Worst Bear Market Of Our Lifetime Approaching Fast
    on November 30, 2022 at 4:33 pm

    As we approach the end of one of the most tumultuous years for the markets in decades, investors minds are turning towards what to expect in 2023.

  • Global Government vs. the People
    on November 30, 2022 at 4:08 pm

    Recently, all G20 countries signed an agreement that calls for instituting vaccine passports.

  • Half of World’s Democracies in Decline: Report
    on November 30, 2022 at 4:07 pm

    Half the world's democratic countries are experiencing an erosion of democracy, intensified by war in Ukraine and economic crisis, an international think tank said in a report on Wednesday.

  • San Francisco Will Allow Police To Deploy Robots That Kill
    on November 30, 2022 at 4:04 pm

    Supervisors in San Francisco voted Tuesday to give city police the ability to use potentially lethal, remote-controlled robots in emergency situations -- following an emotionally charged debate that reflected divisions on the politically liberal board over support for law enforcement.

  • China COVID: Unrest Continues in Guangzhou As Lockdown Anger Grows
    on November 30, 2022 at 4:02 pm

    Protesters hurled debris and glass at police in the latest expression of anger at zero-Covid rules.

  • Yield Curve Inversion Reaches New Extremes
    on November 30, 2022 at 3:58 pm

    The 10-year Treasury is yielding less than the 2-year note by the largest amount since the 1980s. This unusual relationship between yields reflects investors’ bets on easing inflation and future rate cuts.

  • The Dollar Debt Doom Loop: Lawrence Lepard
    on November 30, 2022 at 3:33 pm

    A bigger deficit means they have to sell more bonds, which becomes a doom loop."

  • Close Yellen Adviser Lipton To Step Down
    on November 30, 2022 at 3:28 pm

    The former International Monetary Fund official has served as international affairs counselor to Yellen for the past two years after he came out of retirement. "He will be irreplaceable for the department...

  • Yellen Says She ‘Certainly’ Plans To Remain As Treasury Secretary
    on November 30, 2022 at 3:25 pm

    Yellen told an event hosted by the New York Times Dealbook she had no plans to leave Treasury.

  • The EU is Very Worried About Biden's Inflation Reduction Act (IRA)
    on November 30, 2022 at 3:18 pm

    Eurointelligence writes Industry is Really Worried about IRA. Whether you talk to European industrialists in Brussels or German industrialists in Berlin, you get the same message these days. They are really worried about the US inflation reduction act.

  • Intl Economic Agencies Awaken To Harm From Protectionist, Decoupling Policies Practiced by US
    on November 30, 2022 at 3:16 pm

    Leaders of several major international economic organizations have warned against the negative impact of deglobalization, as the global community increasingly reaches consensus on the economic harm caused by the protectionist policies adopted by the US and some of its allies.

  • US Pending Home Sales Plunge To Biggest Annual Drop Ever
    on November 30, 2022 at 3:13 pm

    After plunging by the most since COVID lockdowns in September, analysts expected US pending home sales to tumble once again in October and they did, dropping 4.6% MoM (September was revised slightly higher from -10.2% MoM to -8.7% MoM)...

  • The Most Splendid Housing Bubbles in America, November Update: Deflating Everywhere, Fastest in San Francisco & Seattle. Phoenix & Dallas Roll Over To
    on November 30, 2022 at 3:10 pm

    In several markets, prices plunged even faster than they’d spiked.

  • Chicago PMI Collapses To COVID-Lockdown Lows, Screams 'Recession'
    on November 30, 2022 at 2:54 pm

    In a massive downside surprise, the Chicago PMI survey just printed 37.2 (vs 47.0 expectations), plunging to its lowest level since the peak of the COVID lockdowns in 2020. This was below the lowest estimate of 25 economists surveyed.

  • Q3 GDP Revised Higher As PCE Comes In Hotter Than Expected
    on November 30, 2022 at 2:49 pm

    Finally, we should remind readers that this data is largely meaningless as it looks at the state of the economy during the summer, while what matters for the Fed is the here and now, and how fast the US slides into recession; which means what Powell says at 1:30pm today will be even more important.

  • Gold Bound for Best Month in Over 2 Years; Focus on Powell Speech
    on November 30, 2022 at 1:56 pm

    Gold rose on Wednesday as the dollar eased and was headed for its biggest monthly gain in more than two years.

  • European Central Bank Says Bitcoin Is on the ‘Road to Irrelevance’
    on November 30, 2022 at 1:52 pm

    The remarks are timely, with the crypto industry reeling from one of its most catastrophic failures in recent history: the downfall of FTX.

  • Mortgage Rates Fall for the Third Straight Week, but Demand Still Drops Further
    on November 30, 2022 at 1:50 pm

    Mortgage rates continue to ease, but demand is not following, as there are few who can benefit from a refinance, and homebuyers are still facing high prices.

  • ADP Signals "Turning Point": Weakest Labor Gains Since Jan 2021, Manufacturing Job Losses Soar
    on November 30, 2022 at 1:44 pm

    The Midterms are over and so any pretense of a 'strong as hell' economy are out of the window, providing some ammo for folks to believe this morning's ADP report (ahead of Friday's payrolls print) may come in very ugly.

  • One Monetary Policy Fits All – Part II
    on November 30, 2022 at 1:43 pm

    The dollar is the world's currency. As such, the Fed's monetary policy is de facto the worlds monetary policy...

  • Citi Warns ‘Rolling Recessions’ Will Shake Global Economy in 2023
    on November 30, 2022 at 1:40 pm

    Brace for a tough year for global economic growth, Citi warns.

  • Rising Interest Rates and Dropping House Prices Squeeze Homeowners With Variable-Rate Mortgages
    on November 30, 2022 at 1:39 pm

    Amid falling home prices and rising interest rates, homeowners who went with a variable rate mortgage are feeling squeezed from both sides, with financial experts predicting more pain to come.

  • US Government to Back Mortgages of More Than $1 Million
    on November 30, 2022 at 1:36 pm

    The federal government plans to back mortgages of more than $1 million, catching up with the dramatic rise in US home prices in recent years.

  • What Is ‘Zombie Debt?’ Why Homeowners Are Facing Foreclosure on Old Mortgages
    on November 30, 2022 at 1:35 pm

    "Zombie debt” - old loans with new collection actions - are resurfacing as properties gain equity. Should homeowners pay?

  • Jeff Bezos' Bet On Housing Slide
    on November 30, 2022 at 1:34 pm

    It should be obvious that billionaires don’t accumulate wealth by accident. Their success is predicated on observation and savvy investment, and a privileged background helps. Billionaires like Microsoft Corp. co-founder Bill Gates likely saw an opportunity for land investment to return tenfold, by way of food shortages, well ahead of time.

  • BofA Says the US Yield Curve Will Return to Normal on Fed Pivot
    on November 30, 2022 at 1:31 pm

    Bank of America Corp. is still a believer in the Fed pivot, even as monetary officials signal their resolve to keep policy tight next year to crush still-elevated inflation.

  • Stock Market Could Plunge Another 24% Next Year, Bank of America Warns
    on November 30, 2022 at 1:30 pm

    Bank of America analysts said this week the S&P 500 could plunge as much as 24% next year as a result of the Federal Reserve's quantitative tightening.

  • Credit Suisse Shares Sink to New Record Lows, Bonds Tumble
    on November 30, 2022 at 1:28 pm

    Credit Suisse shares and bonds took another hit on Wednesday in a sign the embattled Swiss bank is struggling to regain investor confidence ahead of a planned $2.4 billion fundraising to help pay for a major overhaul. Credit Suisse rights for its 2.24 billion Swiss francs ($2.4 billion) share issue were down 3%, having reversed initial gains.

  • Banks Are Short More Than $1 Trillion in Capital: Fears the Shortfall Will Only Get Worse
    on November 30, 2022 at 1:28 pm

    If bank assets are marked to market, the U.S. sector is insolvent, according to an independent analyst.

  • Reelin’ In the Year: Powell’s Pivot, Fed Unity, and the War on Inflation
    on November 30, 2022 at 1:24 pm

    The Federal Reserve started 2022 expecting a surge in inflation to subside as the pandemic-scarred economy got back to normal, and divided over how much the U.S. central bank might need to help the process with higher interest rates. By March, a European land war had upended the inflation and economic forecasts; by the summer...

  • Stock Futures Rise Ahead of Powell’s Speech
    on November 30, 2022 at 1:22 pm

    U.S. stock futures looked Wednesday to rebound from a sluggish start to the week as investors await comments from Federal Reserve Chair Jerome Powell’s scheduled speech.

  • All Of The World’s Money And Markets In One Visualization
    on November 30, 2022 at 12:36 pm

    For 15 years, policymakers have tried to stimulate the global economy through money creation, zero-interest-rate policies, and more recently, aggressive post-COVID spending.

  • A Commodity Super-Spike Is Coming. Are You Ready For It?
    by King World News on November 30, 2022 at 3:05 am

    A commodity super-spike is coming. Are you ready for it? Commodity Boom Will Turn Into A Mania November 29 (King World News) – Gregory Mannarino, writing for the Trends Journal:  The post A Commodity Super-Spike Is Coming. Are You Ready For It? appeared first on King World News.

  • Here’s Why So Many Central Banks Are Buying Gold: WEF
    on November 29, 2022 at 8:43 pm

    Demand for gold has risen by 28% this year, primarily driven by a flight towards safer assets amid soaring inflation, according to the World Gold Council.

  • At LBMA Conference, BIS Exec Shows off His Experience Secretly Intervening in Gold
    on November 29, 2022 at 8:41 pm

    Of course the BIS is the central bank of the central banks and the broker that long has provided camouflage for central bank interventions in the gold market.

  • Our Economic System Is Built To Enrich the 1%
    on November 29, 2022 at 8:31 pm

    I would like to attempt to describe our economic model since we abandoned sound money and any constraints upon our ability to print IOUs (or what most refer to as dollars without any understanding of what that really means). Before, there was mandated fungibility between dollars and gold and at a…

  • The Fed is Hiking at the Most Aggressive Pace Ever (And What it Means for Housing)
    on November 29, 2022 at 8:04 pm

    I use monthly averages because the Fed now targets a range. Also the Fed Funds Target Rate is discontinued and only dates to 1982. This is the steepest, most aggressive hiking cycle ever.

  • To UBI or Not to UBI, That Is the Question
    on November 29, 2022 at 7:59 pm

    In recent decades, proposals for a universal basic income (UBI) have aroused a good deal of attention, but supporters of the free market have for the most part been averse to the idea.

  • Money-Supply Growth in October Fell to a 39-Month Low. A Recession Is Now Almost Guaranteed
    on November 29, 2022 at 7:57 pm

    Money supply growth fell again in October, dropping to a 39-month low. October's drop continues a steep downward trend from the unprecedented highs experienced during the thirteen months between April 2020 and April 2021.

  • Chinese Protesters Force Government To Back Down On COVID
    by King World News on November 29, 2022 at 7:20 pm

    Protesters in China have force the government to back down on COVID restrictions. This has been a relief for markets across the globe. The post Chinese Protesters Force Government To Back Down On COVID appeared first on King World News.

  • The Bond Market's Recession Signal Is the Loudest in 40-Plus Years: Barron's
    on November 29, 2022 at 6:09 pm

    The yield on 2-year Treasury debt was 0.76 percentage point higher than on 10-year debt, the biggest gap since the Fed's battle against inflation in the early 1980s.

  • Tech layoffs approach Great Recession levels: MW
    on November 29, 2022 at 6:07 pm

    As tech companies deal with lower stock prices, inflation, rising interest rates and a possible recession, they've announced tens of thousands of job cuts.

  • Here’s the Potential Fallout From $22 Trillion Lost by Investors This Year - BofA: MW
    on November 29, 2022 at 6:05 pm

    Investors have lost an estimated $22 trillion in equities, bonds, cryptocurrencies and real estate, which could mean a $700 billion hit to consumption, and...

  • ‘The Economy’s at Risk’: President Biden Again Urges Congress To Help Avert Rail Strike
    on November 29, 2022 at 6:02 pm

    The pressure is on for railroad unions and management to reach a labor deal before a potential freight rail strike hits the U.S. in two weeks.

  • Treasury Yields Of 5% Coming to Your Screen Soon?
    on November 29, 2022 at 5:59 pm

    And so it was on Monday when Federal Reserve speakers let traders know that they were underestimating their intent on how far rates may climb in this cycle. Fed St. Louis President James Bullard, who has often been an accurate bellwether for where benchmark rates are headed, put it bluntly: The Fed needs to get to the bottom end of the 5%-7% range;...

  • Average Credit Card Debt In The U.S. Is Rising
    on November 29, 2022 at 5:16 pm

    Over the past year, credit card debt has increased for the first time since the start of the pandemic.

  • As Easy Money Crashes, the Political and Legal Effects Appear
    on November 29, 2022 at 4:23 pm

    In his recent article targeting the collapse of the FTX exchange, Ryan McMaken noted that the easy money regime we have lived under for more than two decades has led to yet another bubble with a spectacular crash.

  • World Yield Curve Inverts For First Time Since At Least 2000 (US Yield Curve Has Been Inverted For 107 Straight Days) Drums Along The Potomac??
    on November 29, 2022 at 3:18 pm

    The hawkish drumbeat from central bankers is raising fears of a downturn, with global bonds joining US peers in signaling a recession, as a gauge measuring the worldwide yield curve inverted for the first time in at least two decades.

  • Conference Board Says Americans' Confidence Dipped In November, Inflation Expectations Jumped
    on November 29, 2022 at 3:16 pm

    The headline consumer confidence signal from The Conference Board was expected to worsen for the second month in a row in November and it did, sliding from 102.5 to 100.2 (weakest since July). While Expectations dropped from 77.9 to 75.4, sentiment towards the Present Situation dropped to 137.4 - its lowest since April 2021.

  • Gold Rebounds 1% As Tepid Dollar Offsets Rate-Hike Fears
    on November 29, 2022 at 2:20 pm

    Gold prices climbed as much as 1% on Tuesday as a pullback in the dollar outweighed pressure from hawkish remarks by U.S. Federal Reserve officials on interest rate hikes.

  • US Home Prices Declined For 3rd Straight Month In September
    on November 29, 2022 at 2:15 pm

    After tumbling for the first time since 2012 in July, Case-Shiller's 20-City Composite Home Price index was expected to drop for the third straight month in September (the latest data available) as mortgage rates soared, crushing affordability; and it did, with the 20-City Composite down 1.24% MoM (as the YoY rise slowed from 13.06% to 10.43%)...

  • Wall Street Rips Up Dollar Playbook as 2022’s Top Bet Crumbles
    on November 29, 2022 at 2:13 pm

    The dollar looked unstoppable earlier this year when investors were adding to bets on inflation and US rate hikes. Now they’re turning against it in droves.

  • Banks Stuck With $42 Billion Debt Seize Chance to Offload It
    on November 29, 2022 at 1:45 pm

    Banks in the US and Europe with around $42 billion of buyout debt stuck on their balance sheets are making the most of their last chance to get rid of it this year.

  • BofA CEO Sees Two-Year Housing Slowdown As U.S. Rates Rise
    on November 29, 2022 at 1:43 pm

    Bank of America Corp chief executive officer Brian Moynihan said activity in the U.S. housing market will probably slow for two years as the Federal Reserve raises interest rates, according to an interview Tuesday on CNN. "This is the toughest thing, because you have to slow down the economy, you have to slow down inflation, and the way you do that...

  • Company Debt With a Long Maturity Jumped the Most Since 2008
    on November 29, 2022 at 1:42 pm

    Credit investors are piling back into debt with long maturities hoping that the Federal Reserve will soon slow its pace of tightening.

  • Fed’s Brainard Says String of Supply Shocks Keeps Inflation Risks High
    on November 29, 2022 at 1:40 pm

    Federal Reserve Vice Chair Lael Brainard said US central bankers must lean against the risk of inflation expectations rising above the 2% target in a world where inflation may be less stable than in recent decades.

  • Credit Suisse Rights Sell-Off Spells Worst Year for Its Shares
    on November 29, 2022 at 1:37 pm

    Credit Suisse shares slid below 3 Swiss francs on Tuesday as investors dumped rights to subscribe to new shares in a cash call aimed at raising $2.3 billion for the loss-making bank. The offering, part of a broader capital raise worth 4 billion francs which won shareholder approval last week, is intended to help fund Credit Suisse's attempt to recover...

  • Looming S&P 500 Bear Case Sees 15% Drop on Fed Balance-Sheet Unwind
    on November 29, 2022 at 1:36 pm

    Bulls getting comfortable with Federal Reserve rate-hike policy have another threat to contend with, one that a team at Morgan Stanley says has the potential to send stocks to fresh lows.

  • Yield Curve Inversion Reaches New Extremes: WSJ
    on November 29, 2022 at 1:34 pm

    The 10-year Treasury is yielding less than the 2-year note by the largest amount since the 1980s. This unusual relationship between yields reflects investors’ bets on easing inflation and future rate cuts.

  • Fed’s Shrinking of Balance Sheet via Quantitative Tightening Is ‘A Complete Mistake’ - Mizuho: MW
    on November 29, 2022 at 1:33 pm

    ‘There is a nontrivial probability that market liquidity will be adversely affected well before the targeted $2 trillion has been rolled off,’ says Mizuho’s U.S. chief economist

  • China’s Covid-Hit Economy Leaves Door Open for PBOC Easing
    on November 29, 2022 at 1:29 pm

    China’s worsening economic slump and a likely disruptive rollback of Covid restrictions will keep the central bank on its easing path, economists said, with calls growing for more interest rate cuts.

  • Stock Futures Rebound As China COVID Concerns Ease
    on November 29, 2022 at 1:28 pm

    U.S. stock futures rebounded from Monday’s losses as investors closely monitor the latest developments related to the sudden surge of protests in China over the government’s zero Covid stance — particularly if the unrest leads to any policy changes.

  • 5 Absolutely Stunning Charts For Gold, Oil And The Stock Market
    by King World News on November 29, 2022 at 3:21 am

    Here are 5 absolutely stunning charts for gold, oil and the stock market. The post 5 Absolutely Stunning Charts For Gold, Oil And The Stock Market appeared first on King World News.

  • Rare Gold Coins Reveal New Roman Emperor: WSJ
    on November 28, 2022 at 8:51 pm

    A new analysis of rare Roman coins says the man whose likeness appears on one of them was a real historical figure who ruled as a Roman emperor almost 2,000 years ago.

  • Silver Price Analysis: Substantial Upside Potential: Commerzbank
    on November 28, 2022 at 8:49 pm

    The Silver Institute and Metals Focus published new figures showing supply and demand in the global Silver market a week ago. Accordingly, strategists

  • UBS Identifies Three Structural Reasons in Favor of Gold
    on November 28, 2022 at 8:45 pm

    Long-term investors and the official sector are gradually building gold allocations. Central banks have been net buyers of gold for more than a decade now, amid a broader trend of diversifying dollar-denominated reserves. This year, the Russia-Ukraine war and corresponding sanctions reinforced this theme. Net official sector buying to 3Q22 is already higher than previous full-year highs.

  • Today’s Energy Crisis Is Very Different from the Energy Crisis of 2005: Gail Tverberg
    on November 28, 2022 at 8:42 pm

    Now, the world is facing a very different problem. High energy prices are again feeding over to food prices and to inflation in general. But the underlying trend in energy consumption is very different. The growth rate in world energy consumption per capita was 2.3% per year in the 2001 to 2005 period, but energy consumption per capita for the period 2017 to 2021 seems to be slightly shrinking at minus 0.4% per year. The world seems to already be on the edge of recession.

  • No, the Labor Market Ain't 'Strong'
    on November 28, 2022 at 8:39 pm

    Last Friday the Wall Street gamblers made another run at “bad news is good news”, taking the averages up modestly after a frenetic chase around the barn and back. But at the end of the day, it’s high time to forget about the games played by Wall Street day-traders and…

  • When $5 Trillion Is Not Enough
    on November 28, 2022 at 8:38 pm

    The federal government seized from the American people almost $5 trillion ($4.896119 trillion) in fiscal year 2022 (Oct. 1, 2021 through Sept. 30, 2022), according to The Monthly Treasury Statement of Receipts and Outlays of the United States Government (MTS), published by the Bureau of the Fiscal Service. But this was still…

  • Furious With Biden, Europe Says US Is Profiting Off Ukraine War
    on November 28, 2022 at 8:33 pm

    High-level European officials are furious with the Biden administration and are now accusing the US of profiting from the war in Ukraine while Europe is facing a potential energy crisis. In comments to POLITICO, a senior EU official said, “The fact is, if you look at it soberly, the country that is most profiting from … Continue reading "Furious With Biden, Europe Says US Is Profiting Off Ukraine War"

  • Year-End Borrowing Could Worsen Deficits and Inflation
    on November 28, 2022 at 8:29 pm

    With inflation surging and debt approaching record levels, policymakers should avoid worsening the deficit and should at least pledge to add no new debt for the rest of 2022. Yet, policymakers are currently considering an end-of-the-year fiscal package that would make things much worse.

  • New Projection: Federal Debt Will Reach Record Levels Sooner Than Expected
    on November 28, 2022 at 8:27 pm

    The nation’s fiscal and economic outlook has deteriorated substantially since the last Congressional Budget Office (CBO) baseline in May, when CBO projected debt would reach a record 110 percent of Gross Domestic Product (GDP) by 2032.

  • Fiscal Crises in American Cities
    on November 28, 2022 at 8:19 pm

    "There’s always a trade-off to overspending and unbalanced budgets. The sooner local governments realize that and reel in their spending, which is the ultimate burden of government, the sooner financial crises will be averted."

  • The Reichsbank: Germany's Central Bank Lays Foundation of Monetary Disaster
    on November 28, 2022 at 7:50 pm

    On January 18, 1871, the German Empire was established after a seven-year conflict to unite the German confederacies. Prussia, a northern German state on the Baltic Sea would be the nation to unite Germany under a central ruler, Kaiser Wilhelm I.

  • Sheila Bair, Former Chair of the FDIC, Is Now an “Organizer/Director” of a Cayman Islands Crypto Co.
    on November 28, 2022 at 7:45 pm

    On November 17, Sheila Bair, the former Chair of the Federal Deposit Insurance Corporation (FDIC) during the financial crisis of 2008, went on CNBC to lament the lack of controls leading to the collapse of the crypto currency exchange, FTX. During the interview, Bair used the phrase “nobody looking behind the curtain.”

  • Look At What Just Eclipsed Japan’s Historic 1989 Bubble!
    by King World News on November 28, 2022 at 7:40 pm

    Look at what just eclipsed Japan’s historic 1989 bubble! Gold’s Best Friend November 28 (King World News) – Egon von Greyerz:  The central banks are unwittingly gold’s best friend. As the The post Look At What Just Eclipsed Japan’s Historic 1989 Bubble! appeared first on King World News.

  • Latin America’s Stagnation ‘Worse Than the 1980s’, Says UN Official
    on November 28, 2022 at 7:40 pm

    Weak investment, low productivity and inadequate education have doomed Latin America to a period of economic failure worse than the “lost decade” of the 1980s, according to the region’s top UN economic official.

  • Fed’s Bullard Says Markets Underestimating Chances of Higher Rates
    on November 28, 2022 at 7:34 pm

    Federal Reserve Bank of St. Louis President James Bullard said financial markets are underestimating the chances that policymakers will need to be more aggressive next year in raising interest rates to curb inflation.

  • NY Fed’s Williams: ‘Still More Work To Do’ To Bring Down Inflation
    on November 28, 2022 at 7:32 pm

    NY Fed President John Williams said Monday the Fed has made some progress on inflation coming down, but said there is still "more work to do" in bringing price pressures under control.

  • BlockFi Files for Bankruptcy As FTX Fallout Ripples Through Crypto Industry
    on November 28, 2022 at 7:30 pm

    BlockFi filed for bankruptcy Monday, becoming the latest crypto firm to go under following the rapid collapse of FTX.

  • ECB’s Lagarde Says We Haven’t Reached Inflation Peak
    on November 28, 2022 at 6:21 pm

    Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday. "We do not see the components or the direction that would lead me to believe that we've reached peak inflation and that it's going to decline in short order," Lagarde told the...

  • ‘I Believe the Economy Is the Biggest Bubble in World History,’ Says Robert Kiyosaki: MW
    on November 28, 2022 at 6:18 pm

    'Rich Dad, Poor Dad' Robert Kiyosaki sees more pain ahead for the global economy, even as some investors are wondering if the bottom is in for U.S. stocks.

  • Robot Landlords Are Buying Up Houses
    on November 28, 2022 at 6:15 pm

    Companies with deep resources are outsourcing management to apps and algorithms, putting home ownership further out of reach.

  • There’s a Job-Market Riddle at the Heart of the Coming Recession
    on November 28, 2022 at 6:11 pm

    The global economy is stuttering, and some of the world’s biggest names are already laying off thousands of employees.

  • “Collapse” in Home Prices Is Coming, Experts Say
    on November 28, 2022 at 6:09 pm

    The residential real estate market has screeched to a halt, and some economists believe home prices are about to drop significantly.

  • Fed Will Slash Rates By 200 Basis Points by Mid-2023 Says Deutsche Bank
    on November 28, 2022 at 6:05 pm

    Fed Rollercoaster! Deutsche Bank, my former employer, said that The Fed will slash rates by 200 basis points by mid-2024 after staying hawkish in the short term.   Deutsche Bank increased its view …

  • Greyerz Just Made These Terrifying Predictions For The World Heading Into 2023
    by King World News on November 27, 2022 at 9:13 pm

    Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals shared with King World News his terrifying predictions for the world as we head into 2023. The post Greyerz Just Made These Terrifying Predictions For The World Heading Into 2023 appeared first on King World News.

  • 2023 PREDICTIONS: Nomi Prins – 2023 Will See A Huge Amount Of Money Flow Into Gold, Silver And Mining Stocks
    by King World News on November 26, 2022 at 4:12 am

    Today Nomi Prins, who has given keynote speeches to the World Bank, IMF, Federal Reserve, and many other prominent institutions, spoke with King World News about her surprising predictions for 2023 as well as why there is going to be a huge amount of money flowing into gold, silver and mining stocks at the end of this year and into 2023. The post 2023 PREDICTIONS: Nomi Prins – 2023 Will See A Huge Amount Of Money Flow Into Gold, Silver And Mining Stocks appeared first on King World News.

  • ALERT: Open Interest Collapse Has Gold & Silver Poised To Rocket Higher
    by King World News on November 25, 2022 at 7:23 pm

    Open interest collapse has gold and silver poised to rocket higher. The post ALERT: Open Interest Collapse Has Gold & Silver Poised To Rocket Higher appeared first on King World News.

  • Happy Thanksgiving!
    by KWN on November 24, 2022 at 8:44 pm

    Happy Thanksgiving! The post Happy Thanksgiving! appeared first on King World News.

  • Look At Who Just Said Buy Gold And Sell Short Stocks
    by King World News on November 24, 2022 at 12:46 am

    As we head into the Thanksgiving Holiday, look at who just said buy gold and sell short stocks. The post Look At Who Just Said Buy Gold And Sell Short Stocks appeared first on King World News.

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