Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today’s focus is on Brandon Smith’s analysis of the economy. (See the Economy & Finance section.)
Precious Metals:
Barrick CEO defends $18 billion hostile Newmont bid as logical tie-up. (A hat tip to H.L. for the link.)
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It’s A Good Time To Be A Palladium Miner
Economy & Finance (Brandon Smith):
The latest from Brandon Smith over at Alt-Market.com: Fed Tightening And Crumbling Fundamentals Expose The Recovery Lie. Here is an interesting tidbit from Brandon Smith’s article: “I also find it interesting that while retail sales are crumbling, consumer debt continues to rise. If consumers are taking on more debt, where is that money going if not into purchases? My suspicion is that new debt is being taken on in order to pay off old debts. If this terrible cycle is the underlying source of expanding personal credit, then retail sales indicate that we are close to the end of the game.”
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The US Housing Market Begins to Feel the Pain
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US Cities Face “Moment Of Reckoning” As China Halts Trash Imports
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“New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets
Derivatives:
At Wolf Street: Disorderly Brexit Increasingly Likely, EU Blinks on Derivatives-Clearing in London
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UK and US agree post-Brexit derivatives trading deal
Stocks:
Sentiment Speaks: Is The Stock Market Stampeding Towards Another Cliff?
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For a bit of comic relief, here is Jim Cramer (video): Kraft Heinz’s double-digit dive was a long time coming
Taxes:
H.L. suggested this piece by economist Walter E. Williams: Plunder: An American Way Of Life
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Here are your new income tax brackets for 2019
Provisos:
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News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!
Regarding the Plunder article:
I am getting tired of people referring to Social Security and Medicare as reasons for the deficit and being unfunded handouts.
The author must not have ever had a pay check with the deductions I saw for 40 years.
It’s not about your deductions. It’s about what the government did with the money taken from your paychecks. It was NOT put away for your use. My deductions along with new debt are making your social security benefit payments possible. Therefore most future social security benefits are not funded. It’s a bit more complicated than that but this is the simple answer. Look up the how entitlements are defined and regulated and you might be surprised.
Craig Fawcett ~ Spot-on Comment!
I’ve seen information on the Internet, that indicates, the Federal deficit is about equal to the amount of spent, on various Welfare programs. That figure includes all programs for what we consider historical welfare for Americans [food, clothing, healthcare, housing + job training and remedial-education].
… Plus, the 135 billion spent for the illegal aliens; should be added into the total. There are also numerous other programs, that seem to be a ‘welfare’ program benefiting people connected to the politicians. [Various allusions like, = ‘Don Quixote and the Windmills.]
There are some government grants, that are just payouts to various political Cronies, with some of the money going back into political campaigns, or the hiring of a politician’s relatives. It often seems, foundations and nonprofits are just conduits for money benefiting someone else, including politicians.
+With the use of foundations and nonprofits, it’s possible for some crooks to get ‘tax deductions’ when ‘paying off’ ~ ‘crooked’ politicians. … Sometimes it seems, the foundations and nonprofits should be called ‘slush funds for the Cronies.’
But like Job, we should take comfort, = “I know that my redeemer lives, and that in the end he will stand on the earth.”
Brandon Smith in the comments section indicates he’s doubting Trump reelection, and that the Fed and others in money are trying to make DJT the crash patsy. Not a new concept, but becoming more possible. Still, we’ll be stuck in the swamp or stew pot, take your pick.