from ITM Trading:
from Birch Gold Group:
Maybe you’ve seen this scenario before: A boxer gets back up after violently being knocked down, only to get knocked out shortly after.
After recovering, the Dow now seems to be struggling to “stay up” since the end of April. Could this mean we are headed towards another major correction?
While market mood has shifted diametrically from yesterday, with stocks sharply higher on Tuesday following what has widely been interpreted as conciliatory comments from both president Trump and various members of China’s ruling elite, one would be hard pressed to find any de-escalation amid the Chinese press commentaries written in the aftermath of the latest escalation in trade war between the US and China.
In a series of editorials and op-ed articles published Monday and Tuesday, Chinese state media slammed what it labeled the Trump administration’s “greed and arrogance“, called for a “people’s war” targeting the US “with precision” as China begins a “fight for a new world.”
by Michael Snyder, The Economic Collapse Blog:
According to the Labor Department, the number of job openings in the United States just plunged by the largest amount we have seen in nearly four years. The latest JOLTS report shows that the number of job openings has declined by 538,000, and that is a really big number for just a single month. But we shouldn’t be surprised by this at all, because it is perfectly consistent with all of the other dismal economic numbers that have been coming in recently. An economic slowdown is here, and many believe that it is just getting started.
by Simon Black, Sovereign Man:
According to a recent report from Bloomberg, more than 108,000 millionaires left their home countries last year in search of greener pastures.
Most emigrated from countries like China and Russia… no surprise there.
India also saw a large outflow of millionaires as tax authorities tightened their grip. And Turkey continues to see an exodus, in the wake of strong-man President Erdogan.
But Western countries like France and England also lost boat loads (or planes full) of millionaires. Excessive taxation is the most obvious reason.
by Peter Schiff, Schiff Gold:
Last week was a good one for the stock market. Peter Schiff raised an important question in his latest podcast: why?
Answer: it’s all about the Fed.
Everybody is giddy because they think the central bank is going to save the day once again. In this podcast, Peter explains why they are wrong.
by Tom Luongo, Tom Luongo:
Cryptocurrencies are winning. If you need proof look no further than Facebook’s proposed Libra stablecoin. While the details are scant, the salient point is Libra is another attempt by the current banking establishment to slow the flow into the world of hard money.
In this respect Libra is no different than Ripple or dollar-settled Bitcoin futures contracts. These are products designed to slow the exodus out of the shadow banking system. Ripple is a way to lower foreign exchange fees and off-chain futures settlement is a way to control Bitcoin prices and exacerbate volatility to slow crypto-adoption by so-called normies.