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Prepare for Recession This Summer, Bear Market in Real Estate & Drop in Stock Prices, Rosenberg: MWMar 16, 2022 - 07:31:47 PDT
Rosenberg, the widely followed president and chief economist and strategist of Toronto-based Rosenberg Research & Associates Inc., is convinced that the Fed will beat inflation so hard that the U.S. economy will slide into recession as early as this summer.
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 79, down from 81 in February. Any number above 50 indicates that more builders view sales conditions as good than poor.
A sharp jump in mortgage rates last week soured demand from both current homeowners and potential homebuyers, causing mortgage applications to drop.
Retail Sales Miss, Q1 GDP May Contract After Unexpected Slide In Control GroupMar 16, 2022 - 06:30:07 PDT
After January's shockingly strong beat in adjusted retail sales, which however was more than offset by a plunge in unadjusted retail sales, moments ago the dept of commerce reported that February retail sales slowed sharply from the January euphoria, with the headline retail sales rising just 0.3% after January's 4.9% surge...
Last week, I asked the question: is the US undermining the dollar's credibility?It appears the answer is — yes.In another blow for dollar dominance, Saudi Arabia is reportedly considering pricing at least some of its Chinese oil sales in yuan.
"Once gold markets have fully digested the Fed's policy signals, attention could swiftly return to the ever-evolving Russia-Ukraine war," Tan said, adding that any escalation of the crisis would lead to further gold price rises.
The problem is that the Fed is between the rock of a war in Ukraine, the hard place of the world’s second largest economy facing more shutdowns, and, uh, another rock of the historical tendency for the Fed to induce recessions during previous rate hike cycles. Those risks are a big reason why the Fed may only move by 0.25% today.
"Right now the biggest thing to worry about is higher rates, not inflation, and lower stock prices because then what you have is risk parity people taken out in a stretcher and there will be forced deleveraging."
Citing sanctions, the Russian government warned it might pay foreign debt obligations in rubles. Credit rating agencies say a default is imminent.
Russia spent years building a giant stash of gold, an asset that central banks can turn to during a crisis. But any attempt to sell it will now be a challenge just when it’s needed most.
President Biden’s plan to shift away from fossil fuels and to renewable energy has been put on hold as the White House is forced to deal with the immediate problem of soaring energy prices...
International sanctions against Russia have had a devastating impact on Central Asian economies, and Kazakhstan is racing to mitigate the damage through a ban on currency and gold exports...
Mar 16, 2022 - 05:44:52 PDT
The fall in nickel suggests a dramatic short squeeze is easing but the trading suspension is an embarrassing setback for the London Metal Exchange.
Pozsar's "Margin Call Doom Loop" Prediction Comes True As Trafigura Faces Billions In Margin CallsMar 16, 2022 - 05:39:49 PDT
But if it is not the banks scrambling for liquidity, then who? Recall what Zoltan Pozsar warned two weeks ago, when he said that "we could be looking at the early stages Of A Classic Liquidity Crisis" - according to the former NY Fed liquidity guru, none other than the commodity traders themselves, and their...
Biden to Announce Additional $1 Billion in New Military Aid to Ukraine: WSJMar 16, 2022 - 05:30:26 PDT
The additional assistance comes as Ukrainian President Volodymr Zelensky prepares to make an appeal to Congress.
Early on in the pandemic, a lot of New Yorkers got major deals on apartments. Now the landlords are striking back. Even though rats are popping out of toilets, hedgehogs are escaping through holes in walls and my own ceiling rains sewage on me (really!), the rent is still going up by percentages your paycheck can only dream about.
Today we get the highlight of what has already been an event-packed week, when at 2pm the Fed will hike rates for the first time since December 2018, raising the Fed Funds rate from 0% where it has been since the covid crisis to 0.25%. The widely telegraphed rate hike will be the first of many as the Fed...
In another sign that the inflation train is far from running out of steam, producer prices were up big again in February.The Producer Price Index (PPI) for final demand surged 0.8% month on month. This was close to the expectation. The annual increase in producer prices came in at 10%, tying the all-time record.
The war in Ukraine has only served to convulse these markets even further, prompting sharp moves in raw materials such as crude oil, natural gas, gold, nickel and wheat.
AMC Stuns Investors With Investment in Gold & Silver Mine As It Puts $1.8 Billion War Chest To WorkMar 15, 2022 - 13:18:45 PDT
‘To state the obvious, one would not normally think that a movie theatre company’s core competency includes gold or silver mining,’ AMC CEO Adam Aron acknowledges