Thursday, February 20, 2020

Auto Sales Weak Again, Average Loan Hits Record 5.75 Years: Don’t Worry “Plateau Expected”

0

by Mish Shedlock, Mish Talk:
With about 3/4 of the totals in, vehicle sales in June are running no better than even compared to May’s 16.7 million annualized rate according to Econoday.

The Wall Street Journal report is much weaker: U.S. Auto Sales Fall as Fewer Vehicles Go to Rental Chains.

According to the article subtitle, GM, Ford and Fiat Chrysler are moving away from practice of dumping unwanted inventory into rental lots. The body reads quite differently. It is the rental car dealers cutting back due to warranted fears of a decline in used vehicle prices.

This Black Swan Event Is Happening Now And Will ‘Bring This Country To A Halt’

0

by Susan Duclos, All News Pipeline:
On June 24, 2017, Stefan Stanford highlighted a very concerning SQ Alert by a member of the trucking industry about the ramifications and total tyrannical control of the government regarding the upcoming ELD Mandate, warning people that the mandate set to begin in December 2017, is all about control and the surveillance state, with the trucking stating “Control trucking, you control every part of this country, and as 1/5th of the GDP, the economy of every part of this country.”

Read the entire alert again here, because ANP has just received another warning, coming from a trucker that would be affected, and a possible trucking shutdown, which we are told “would bring this country to a halt.”

A black swan is an event or occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict and generally brings about chaos and strife, and our reader highlights what has been going on in the trucking industry, but has received very little attention in the media, telling us:

Keiser Report: Rationing of Money (E1092)

from RT:

From Mexico City, Max and Stacy discuss rationing healthcare and investment opportunities. Max continues his interview with economist and columnist Alejandro Nadal about Trump’s economic and geopolitical policies and what they mean for Mexico.

MASSIVE RAID ON SILVER AND GOLD AT THE COMEX

CARMAGEDDON IN USA CAR INDUSTRY./4 STATES DO NOT HAVE THE REQUIRED BUDGET FOR 2018
from Harvey Organ:

In silver, the total open interest SURPRISINGLY ROSE BY 171 contract(s) UP to 201,056 DESPITE THE FALL IN PRICE OF SILVER THAT TOOK PLACE WITH FRIDAY’S TRADING (DOWN 2 CENT(S). AND THE CONSTANT TORMENT THESE PAST FEW WEEKS.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.0050 BILLION TO BE EXACT or 144{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 326 NOTICE(S) FOR 1,630,000 OZ OF SILVER

In gold, the total comex gold SURPRISINGLY ROSE BY 7873 CONTRACTS DESPITE THE FALL IN THE PRICE OF GOLD ($3.50 with FRIDAY’S TRADING). The total gold OI stands at 460,557 contracts.

we had 30 notice(s) filed upon for 3000 oz of gold.

Read More @ Harveyorganblog.com

Prepare For Asset Price Declines Of 50-75{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}

by Steve St. Angelo, SRSRocco Report:
What we have is a totally propped-up market based upon debt. Energy isn’t producing positive growth, really. So instead of having real economic growth, we have inflated economic growth and inflated asset values.

When growth starts to decline, I think we’re going to see the valuations of assets decline considerably. It’s anyone’s guess how quickly they can fall, but according to what I have been looking at, I think we are going to see a 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} decrease in real estate values right off the bat. I am not saying this will happen in a day, but the first wave will be a 30-50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} decrease in real estate values when the markets really start to crack. They are already at the edge of the cliff — and I see prices falling down the cliff, struggling to recover, and then falling even further. Actually, I predict within the next 5-10 years, we can easily see a 75{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} or more reduction in real estate values.

Car Sales Have A Long Way To Fall

0

by John Rubino, Dollar Collapse:
The past decade’s historically low interest rates convinced millions of Americans to buy cars they could only afford with hyper-cheap credit. This made auto sales one of the drivers of the recovery, but it also left far too many people with underwater “car mortgages” that will limit their spending on other things and prevent them from buying their next car until sometime in the 2020s.

Like all artificial (that is, credit-driven) booms, this had to end eventually, and it’s looking like now is the time:

U.S. Auto Makers Post Sharp Sales Decline in June

(Wall Street Journal) – Detroit’s car companies reported steep sales declines in June, capping a bumpy first half of the year for the U.S. auto industry and setting a bleak tone for the summer selling season.

Jackass’ Red Glare Upon The Petrodollar

by Turd Ferguson, TF Metals Report:
For your holiday listening pleasure, Jim Willie returns for a comprehensive discussion of the petrodollar and how current events around the Arabian Peninsula are a sign of great distress for this monetary scheme.

Again, what is the “petrodollar”. The idea was championed by Henry Kissinger in 1973 as a way to create ongoing demand for US dollars by maintaining the pricing of crude oil in dollars only. The effects of this were two-fold:

To create constant demand for dollars…dollars which were now completely unhinged from any gold backing…and this demand would soak up any excess supply of new currency being printed in the US for military and social purposes.
To force oil-exporting nations to keep their foreign currency reserves in dollars, thus creating an ongoing demand for US treasury bonds. This constant demand for bonds would help to keep interest rates…and thus the US debt service cost…unnaturally low.

Click HERE to Listen

Silver Is Now Offered At a Discount

0

by Keith Weiner, Silver Seek:
Have you ever been in a discussion about gold, when someone blurts out “we don’t have enough gold to operate a gold standard!” We have a standard retort. “Oh, that’s interesting. Please tell us how much gold you think would be necessary, and how you calculated it.”

We have never heard a coherent answer to this question. Most people just don’t like gold, and will say whatever words they think will dismiss the monetary question entirely, without actually having to address the issues.

The common answer from the gold community is not much better, “We could have a gold standard, if gold was at the right price.”

US Auto Sales Sag, Hyundai Meets Carmageddon

0

by Wolf Richter, Wolf Street:
So let’s see how we can put a positive spin on this.

Ford, GM, Hyundai and others tried hard to curtail their sales to rental car companies, or whatever. That’s was the theme among analysts on Monday, after automakers reported crummy June new vehicle sales.

What really happened?

Rental car companies continued to trim their fleets as they’re traversing their own structural hell, squeezed by ride share companies and falling used car wholesale prices. They’re not buying as many vehicles anymore because they don’t need more, regardless of what automakers are trying to do to sell them more.