Tuesday, November 13, 2018

Real Canadian Mortgage Growth Points to Early-80s-Style Meltdown

by Wolf Richter, Wolf Street:

We’re overestimating growth, thinking of it as heading towards low growth. In reality, we’re heading towards negative growth, once adjusted for inflation.

Canadian mortgage credit growth is falling, but how bad is it in real terms? People are comparing today’s low growth numbers to the mid-1990s. While there are some parallels, it more accurately resembles the early 1980s. Mortgage credit growth, when adjusted for inflation, is heading towards negative numbers. We haven’t actually experienced negative real growth in over 30 years.

Dow PLUNGED 600 Points! GE Stock is COLLAPSING and Will Need A Bailout!

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from The Money GPS:

https://www.youtube.com/watch?v=_NVgjzJrKfo

DOW PLUMMETS BY 602 POINTS/NASDAQ FALLS BY 206 POINTS

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $4.65 AND SILVER IS DOWN 10 CENTS AS THE USA INDEX CLIMBS TO 97.59/VOLATILITY INDEX CLIMBS A HUGE 3.08 POINTS TO 20.44/ITALIAN BOND SPREAD/GERMAN BUND SPREAD RISES ABOVE 3.00 TO 3.04/CHINA REPLACES THE USA WITH RUSSIA IN THE PURCHASE OF SOYBEANS/FIFTY MILLION APARTMENTS ARE EMPTY IN CHINA IN A NIGHTMARISH SCENARIO/CARIGE BANK IN ITALY BAILED OUT TEMPORARILY BY OTHER ITALIAN BANKS BUT THE SITUATION IS DIRE/MALAYSIA SEEKS FULL REFUND FROM GOLDMAN SACHS IN SCANDALOUS 1MDB AFFAIR/SURE LOOKS LIKE VOTER FRAUD IN FLORIDA AND MAYBE ARIZONA/MORE SWAMP STORIES FOR YOU TONIGHT

Latest de-dollarization move comes from one of the U.S.’s biggest allies

by Kenneth Schortgen, Shotgun Economics:

While the sanction war America started against Russia in 2013 appears to have opened the door to de-dollarization, Washington’s latest gambit towards Iran seems to have fully opened the floodgates.  And that is because the latest country to willingly accept trade outside the dollar just happens to be a long-standing ally of the U.S..

South Korea and Iran have agreed to switch to national currencies in trade exchanges as the sides aim to strengthen relations despite the US sanctions on Tehran.

China to Adopt Gold Standard? | Alasdair MacLeod

from Silver Doctors:

https://www.youtube.com/watch?v=RqVRzah34YQ

Italy Refuses to Yield to Brussels – Is Another Exit in the Works?

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by Martin Armstrong, Armstrong Economics:

Italy is arguing that it will retain its budget and refers to how both France and Germany exceeded their budgets and the Commission disregard the Maastricht treaty rules in the case of both countries. In the budget dispute, the Italian government was not deterred by the threat of penalties from the European Commission. Finance Minister Giovanni Tria said last week that Italy would commit “economic suicide” to stick to the plans of the previous government to reduce the deficit.

Economy Rolling Over: Focus On Housing And Tariffs

by Peter Schiff, Schiff Gold:

As the stock market was tanking last month, Peter Schiff said a recession is obviously coming. Now things have calmed down a little bit and everybody seems convinced October was just a bad month —  a needed correction. But as Peter has been saying, there are some fundamentals everybody is ignoring that look really bad. The housing market, in particular, is showing signs of trouble. In fact, we don’t have a booming economy; we have a bubble.

In an article published on Seeking Alpha, Mad Genious Economics provides an in-depth breakdown of an economy rolling over, focusing specifically on housing and auto markets, the trade war and banking.

NIGHTMARE SCENARIO 50 MILLION CHlNESE HOMES EMPTY

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from James Munder:

https://www.youtube.com/watch?v=FrAl6XJZKvY

Oil Price Getting Whacked: Lower Prices Ahead or Just A Large Correction?

from WallStForMainSt:

https://www.youtube.com/watch?v=em7l3oJc4Ng

JP Morgan Pleads Guilty to Precious Metals Manipulation (Not Suppression)

from Smaul gld:

https://www.youtube.com/watch?v=tRBTNmdWRc8

Trudeau To SEIZE Canadian Bank Records?! – No Place To Hide!

from World Alternative Media:

https://www.youtube.com/watch?v=K_MLdNHK5k8

The Beginning of the End, by Todd

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from Survival Blog:

An event occurred last week that I want, or more accurately need, to share with others. For me, this feels like a five-alarm warning bell on steroids going off. To my wife and the few friends that I shared this with, it is not a big deal; they just gave me another one of those “Yup, that wouldn’t have happened in the ‘90s” type of reactions. Maybe I’m an alarmist; maybe I’m not. I am just reporting, however, the facts and will let you decide for yourself if there is any revelation in my experience.

About Myself

Before I go into the details, let me briefly tell you about myself so you can understand my context, worldview, and perspective. I am a forty-something Bible-believing Christian, a libertarian conservative, and a prepper. Additionally, I have too many letters after my name to be of much practical help in the event of TEOTWAWKI. While I wish and fantasize about moving back to a small rural community in the heart of the Redoubt, amongst like-minded people, and being able to live self-sufficiently, that is not my calling. Rather I spend approximately 60 percent of the year overseas, am easily found on the Internet and in government and commercial databases, and look, at least on paper, very much like those who would not survive TEOTWAWKI.

Understanding the Global Recession of 2019

by Charles Hugh Smith, Of Two Minds:

Isn’t it obvious that repeating the policies of 2009 won’t be enough to save the system from a long-delayed reset?

2019 is shaping up to be the year in which all the policies that worked in the past will no longer work. As we all know, the Global Financial Meltdown / recession of 2008-09 was halted by the coordinated policies of the major central banks, which lowered interest rates to near-zero, bought trillions of dollars of bonds and iffy assets such as mortgage-backed securities, and issued unlimited lines of credit to insolvent banks, i.e. unlimited liquidity.