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Wednesday, August 21, 2019

FOMC Minutes Show “Most Fed Officials” Saw Rate-Cut As “Mid-Cycle Adjustment”

Since The Federal Reserve cut interest rates (for the first time in over a decade), the world has started worrying about recession (and the 2s10s curve inverted)... Which might explain why US equity markets have floundered as bonds and bullion have been bid... And, yuugely disappointing for President Trump, the dollar is modestly higher. But…

Kyle Bass Summarizes The State Of The World: “This Is Insane!”

Despite interest rates having bounced (albeit very modestly) in the last few days, prompting shrieks of "the lows for yields are in" once again, and hyped-up belief that 'There Is No Alternative' to dumping bonds and buying stocks at record highs, Hayman Capital fund manager Kyle Bass has a different view suggesting that a global…

War Drums: US Navy “Ready” For Venezuela Conflict, Says Top Commander

The US Navy is preparing for a conflict with Venezuela, a top US Naval commander said earlier this week. Adm. Craig Faller, who oversees the U.S. Southern Command (SOUTHCOM) said Tuesday that the Navy must be ready to "do what needs to be done" on Venezuela. "I won't speak to details of what we're planning and what…

Midwest Damage Control: “Screwed” Farmers Prompted Emergency Oval Office Meeting On Monday

President Trump is doing damage control relating to midwestern farm states that are critical to his re-election, according to Bloomberg. The president held a lengthy meeting in the oval office on Monday after facing criticism over the EPA's decision to give 31 refineries exemptions from biofuel blending requirements. Iowa's Senator Chuck Grassley said that Trump's…

Mauldin: Modern Monetary Theory Could Destroy This Nation

Authored by John Mauldin via MauldinEconomics.com, I am back from my 14th annual Maine fishing camp. The private event at Leen’s Lodge is generally called Camp Kotok in honor of David Kotok of Cumberland Advisors who started these outings many years ago. CNBC and others began calling it the “Shadow Fed,” but it is really just…

Apple “Aggressively Testing” New Flexible Smartphone Screens Made By Chinese Firm

Apple is still working to move more iPhone production outside of China, mostly by pressuring chipmakers and the sources of other components to build assembly lines in Vietnam and elsewhere. But the company isn't totally giving up on China, and, in fact, is planning to source the OLED screens for its next generation of iPhones…

Trader: Getting Rich Off The Greater Fools Has Worked Wonderfully…Until Today

Jeff Gundlach, CEO of DoubleLine Capital, told Reuters last night that The Fed has lost control of interest rates: “What else do you need to call it an inversion?” Gundlach said in a telephone interview. “Everyone is parsing all of these little arbitrary things. But we’ve got an inversion.” And, as if Powell didn't face…

Aramco Asks Banks To Submit Proposals For Role In Mega IPO (Again)

Authored by Julianne Geiger via OilPrice.com, The Aramco IPO is one step closer to reality, with Saudi Arabia’s state-run oil company seeking proposals from banks who wish to fulfill various roles in the much-anticipated IPO, Reuters sources said on Monday. The requests for proposals were sent a few days ago, the sources said. Saudi Aramco declined to…

“Don’t Worry”: Kremlin Denies Tampering With Nuclear Sensors That “Went Silent” After Blast

After on Monday The Wall Street Journal reported two Russian nuclear monitoring stations "went silent" following the August 8 'mystery explosion' at a missile test site in Arkhangelsk, Russia, the Kremlin is now saying there's nothing to worry about. That explosion involving a “small-scale nuclear reactor” believed part of an experimental hypersonic missile test had caused…

Ron Paul: Trump Trade War “Not Root Cause Of Downturn”, The Fed Is!

While the establishment is desperate to ensure President Trump (and the nationalist deplorables) is "obviously" to blame for whatever bad things happen in the global economy, Ron Paul brushes aside the smoke and mirrors to get to the real driver of economic boom and bust for decades - The Fed! Via The Ron Paul Institute…
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