Wholesale and Retail Inventories Rise Led by Autos: Diving Into Seasonal Adjustments
• mishtalk.com by MishOn Monday, Census Department data showed durable-goods orders declined 1.1% for the month.
Contents Pages by Subject
Economy - Economics USA
Are Illinois & Puerto Rico Our Future?
• LewRockwell.com by Patrick J. BuchananIf Gov. Bruce Rauner and his legislature in Springfield do not put a budget together by Friday, the Land of Lincoln will be the first state in the Union to see its debt plunge into junk-bond status.
You Can't End Poverty without Cutting Taxes
• https://fee.org, David WeinbergerRecent tax proposals have let loose the dogs of economic war. While debate has raged over the impact of tax cuts on growth and revenue, the moral case for low taxation remains largely neglected.
GM Says "Market is Definitely Slowing" Lowers Outlook for Vehicle Sales
• mishtalk.com by MishReuters reports GM Lowers Outlook for U.S. 2017 New Vehicle Sales, but not by enough in my estimation.
Illinois Is Venezuela & The Solution Is Cryptocurrency
• http://www.zerohedge.com, by Ken KursonThe reason I'm so much fun at parties is that my idea of a good time is to lecture everyone on cryptocurrency. I can pretty much talk bitcoin and blockchain with Hamiltonian fervor all night.
Seattle's Minimum Wage Has Been a Disaster, as the City's Own Study Confirms
• https://fee.org, Alex TabarrokThe Seattle Minimum Wage Study, a study supported and funded in part by the Seattle city government, is out with a new NBER paper evaluating Seattle's minimum wage increase to $13 an hour and it finds significant disemployment effects that on net r
Peter Schiff Warns: "They're Not Afraid Of Collapsing The Bubble On Trump's Watch"
• https://www.prisonplanet.comInvestors like Peter Schiff have been predicting the collapse of the American economy for a long time, and for good reason. If an economy is built on a foundation of borrowed money, then that economy is living on borrowed time. However, despite how f
Abra Cadabra: Yellen "No Financial Crisis in Our Lifetime" vs Fed's Kashkari "67%
• https://mishtalk.comChance of Another Financial Crisis" ...Fed Chair Janet Yellen made financial news today when she proclaimed that she expects No New Financial Crisis in 'Our Lifetimes'
Yes, the Fed Really Is Holding Down Interest Rates
• https://www.lewrockwell.comThe very sluggish recovery of the economy since the financial crisis -- despite zero and near zero interest rates -- presents the dominant school of New Keynesian macroeconomists with a conundrum. Many have attempted to resolve the riddle by arguin
Case-Shiller Home Price Growth Slows As San Francisco Bubble Continues To Deflate
• http://www.zerohedge.comAmid a slew of mixed housing data (weak starts, permits; rebound in existing sales at record median prices), S&P CoreLogic Case-Shiller reports that home price growth slowed to just 0.28% MoM (the weakest since Aug 2016), considerably worse than the
Dear Barry Ritholtz, Can We Please Discuss Illinois?
• https://mishtalk.comBloomberg columnist Barry Ritholtz is a firm believer that government knows better how to spend your money than you do.
Even The Fed's Own National Economy Activity Index Just Collapsed In May
• http://www.zerohedge.comLies, Damned Lies, and Fed Press Conferences. The incessant outpouring of confidence in the future of economic growth in America espoused as reasoning for raising rates (when all around them, signals are collapsing) just got another slap in the face.
Is Illinois the next Venezuela?
• http://www.naturalnews.com, by: Ethan HuffIs Illinois the next Venezuela? Democrats have driven Illinois to the point of bankruptcy, and soon pensions and road repair will collapse
Why The Next Recession Will Morph Into A Decades Long Depressionary Event...
• http://www.zerohedge.com, by Chris HamiltonWhy The Next Recession Will Morph Into A Decades Long Depressionary Event... Or Worse
You Know It's Bad When... Prices For Used Jets Are Cratering
• http://www.zerohedge.com, by Tyler DurdenAmerica's wealthiest individuals are thriving thanks to an imbalance in wealth accumulation that favors the already asset-rich.
"It'll Be An Avalanche": Hedge Fund CIO Sets The Day When The Next Crash Begins
• http://www.zerohedge.com, by Tyler DurdenWhile most asset managers have been growing increasingly skeptical and gloomy in recent weeks (despite a few ideological contrarian holdouts), joining the rising chorus of bank analysts including those of Citi, JPM, BofA and Goldman all urging client
New York's "Billionaires Row" Suffers Biggest Foreclosure In History
• http://www.zerohedge.com, by Tyler DurdenIn the latest sign that NYC's ultra-high end property market is on the verge of imploding after a wave of overly aggressive development, another luxury condo at Manhattan's One57 tower, a member of "Billionaire's Row," a group of high-end t
Fashion Sellers Reel as Amazon Aims at Next Retail Target
• https://www.bloomberg.comA week after upending the grocery business, Amazon.com Inc. is taking aim at fashion. The e-commerce giant's latest service, which lets consumers try on items at home before they buy them, prompted a slump in shares of Macy's Inc. and Nordstrom
Still think crypto currencies are a store of value? Ethereum just flash-crashed 96%...
• http://www.naturalnews.comin a matter of minutes...For the past few weeks, I've been warning about the extreme volatility of crypto currencies, urging readers to steer clear of the outlandish risks of these unproven, untested "casino-style" betting market
GDP Estimation Crapshoot:
• mishtalk.com by MishWhen Errors Balance Out and When They Don't
Good Luck Getting Out Of That Subprime Auto Loan When Used Car Prices Crash
• http://www.zerohedge.comWe've written frequently in recent months about the coming subprime auto crisis which will very likely be prompted by a wave of off-lease vehicles that will flood the market with used inventory over the coming years. In fact, Morgan Stanley recently
Several states set to collapse under crushing weight of bankrupt pensions: Will...
• http://www.naturalnews.comIllinois become the first?...(Natural News) For years Natural News founder/editor Mike Adams, the Health Ranger, has been warning Americans that many of the nation's public sector pensions are underfunded by hundreds of billions of dollars and are
SocGen: The Fed Is Raising Rates Too Slowly To Contain Asset Bubbles
• http://www.zerohedge.comYesterday, when looking at the divergence between the slowing US economy and the Fed's insistence on hiking rates, Bank of America's David Woo asked if there is a different motive behind the Fed's tightening intentions, namely is the Fed trying to po
What Is The Market Telling Us?
• http://www.zerohedge.comThe entire global economy now depends on this stripped-of-information "market" for its stability. Ho-hum, another day, another record high in the S&P 500 (SPX). What is this market telling us? If you're long, the market is screaming "you're a geni
Eric Peters: "Last Week Saw The End Of The QE Era"
• http://www.zerohedge.comAs a follow up to Eric Peters' comments on the Fed's ongoing tightening strategy (which he ascribed to the Fed's questionable desire to "subdue Wall Street"), the One River Asset Management CIO has some observations on what happens next, which roughl
Why Bankruptcy is Not a Magic Wand for Illinois
• http://www.thedailybell.comWhat if everyone declared bankruptcy, would that solve all financial woes? Or rather, would it be the ultimate debt bubble burst? Bankruptcy is a "solution" that would become disastrous if everyone were to use it. So can it truly be considered a
"We Are Still In Crisis Mode" - Trader Warns Fed 'Normalization' Will...
• http://www.zerohedge.com/news/2017-06-19/we-are-stExpose Markets To Political Chaos... So as the week begins... Global equities are higher, fueled by Emmanuel Macron's big win in France's National Assembly election. The euro is virtually flat versus most major currencies as the elec
The Fed Can't Cure the Problems They Cause
• https://www.libertarianinstitute.orgThe Federal Reserve claims it can continue "tightening" -- even though it is still leaving interest rates at historically low levels -- and begin unwinding its balance sheet, because the economy is "improving" and "will continue to improv
The Last Seven Times This Happened America Immediately Went Into A Recession…
• http://www.shtfplan.com, Michael SnyderIf something happens seven times in a row, do you think that there is a pretty good chance that it will happen the eighth time too?
We Are Getting Very Close To An Inverted Yield Curve –
• theeconomiccollapseblog.com by Michael Snyder– And If That Happens A Recession Is Essentially Guaranteed
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