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Old 07-07-2018, 02:48 PM
Danny B Danny B is online now
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,494
Trade war, Powell, EU banks, Kunstler

Here is a 12 page report on economic factors that includes tons of charts. Among the many things that it shows; Chinese exports to America only account for 3.5 % of it's GDP.
7/07 Risk of ‘brutal correction’ in global stock markets – Sydney Morning Herald
7/07 The dark cloud of global debt — perfect storm looms – GoldTelegraph

Here is one chart that shows the "everything" bubble.

OK, what about decisions from Powell,, the FED head?
"The Atlanta Fed’s GDPNow estimate suggests
that the U.S. economy is growing at a 4.5% annual
rate. I find this inconceivable"
"Chairman Jerome Powell is more concerned about economic overheating and the strong labor market is emboldening policymakers to become more hawkish. "
"The Treasury yield curve does not agree with Powell’s assessment and has flattened sharply since the Fed’s last decision. "
"The Fed narrative seems to be that U.S. economic strength will be sustained, and inflation will creep higher. However, forward-looking indicators are telling a different story"

7/07 June jobs increase — all part time and no full time jobs – Zero Hedge
7/07 Welcome to full employment – Atlantic
7/07 Copper’s collapse deepens as US-China trade war escalates – Bloomberg

Dr. copper is a very good indicator of true economic strength.
7/07 As Japan dumps Treasuries it’s buying riskier US assets – Think Advisor
So, Japan believes that junk bonds carry less risk than U.S. treasuries.
7/07 Brexit: Theresa May’s new customs plan ‘dead on arrival’ in EU – Independent
The French, Swiss and German banks have no intention of letting London
banks continue to do business as usual on the continent.
7/07 US spends $686 billion on defense — what about other NATO countries? – CNBC
There are 688 billion reasons to go looking for enemies.

Kunstler has a new report that is more than mildly pessimistic.
Summer of Tough Love - Kunstler
"Trump wants lower oil prices while at the same time his administration is trying to zero out 2.5 million barrels per day of Iranian oil exports.

“It does not occur to the U.S. president that it is Trump himself who is driving prices up through his Iran policy,”
“You impose sanctions on major producers, founders of OPEC, and yet you are asking them to reduce the prices?! Since when did you start ordering OPEC!” Iran’s OPEC governor Hossein Kazempour Ardebili said in a statement. “Your tweets have driven the prices up by at least $10/b. Pls stop it, otherwise it will go even higher!”
"Meanwhile, the U.S. Congress has revived legislation that would remove the immunity that sovereign nations have from being sued from antitrust violations."
Yeah, that should go over real well around the world.
An excellent report on Work and Wealth
In the Battle for Syria, it still remains to be seen just where the Syrian army will stop.
This is a very big deal.
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