from Silver Report Uncut:
Lower mortgage rates have not helped new home construction. Both starts and permits are not only well below the Econoday consensus range, but also lower than the lowest estimates.
Washington State Politicians Drop Cynical Attempt to Impose Taxes on Gold & Silver
from Activist Post:
Well, here’s some encouraging news…
Efforts in Washington State to impose sales tax on gold and silver were SHUT DOWN today thanks to intense efforts by the Sound Money Defense League, a group of in-state coin dealers led by Dan Duncan, the Association of Washington Businesses, and a large number of vocal grassroots supporters.
Here’s the backstory…
List of 24 Points Pressing Hard toward Recession
by David Haggith, The Great Recession Blog:
- The US stock market is slightly overbought (which is not a positive in terms of head room for more of a rally).
- It’s massively built up on debt that is now more expensive to maintain and/or obtain.
- The Fed is still rapidly tightening money supply and says it will continue to do so for several more months.
- Interest rate increases and money tightening that already happened through this past December will continue to worsen economic conditions until summer because any changes by the Fed have about a half year lag time for the general economy.
Wealth Bubble Leaves U.S. Economy in Uncharted Territory
from Birch Gold Group:
There have been numerous signs that the U.S. is likely to go through another major recession at some point. And regardless of when or if a recession happens, it won’t change the fact that the U.S. economy is already in hot water.
At MarketWatch, the “hot water” is explained in terms of a U.S. “wealth bubble” that reveals a peculiar pattern:
Today the United States sits in the midst of the largest wealth bubble in post-World War II history, as measured by household net worth (or wealth) relative to gross domestic product. As I showed in detail recently in the Journal of Business Economics, only two other postwar bubbles come close, with peaks in 1999 and 2006, just prior to the tech stock crash and the Great Recession.
SHALE STOCK LOSES 99% OF ITS VALUE: Investor Warning For The Future Of The Industry?
by Steve St. Angelo, SRSRocco Report:
If you think the carnage taking place in the shale oil companies is nearly over, you couldn’t be more wrong. I believe the bloodbath in the shale oil stocks has only just begun. Once we see the majority of shale stocks trading on the pink sheets as penny stocks will we finally close the book on the Greatest Energy Ponzi Scheme in history.
London Home Prices Had Biggest Monthly Drop Since Lehman
by Wolf Richter, Wolf Street:
February was bad. Housing market weakness is now spreading out from London.
London home prices in February took their biggest one-off hit since the dark days of the last crisis, according to data published Thursday by the UK’s Office of National Statistics. The average price of a residential property in London tumbled 2% in February from January, the sharpest monthly drop since November 2008, when the City was grappling with the fallout from the Lehman Brothers bankruptcy. For the 12-month period, the average price dropped 3.8%, the sharpest year-over-year fall since August 2009, during the Global Financial Crisis. The average home in London is now worth £459,800 ($600,000), down 5.9% from the peak in July 2017:
Bernie Sanders is very much like Karl Marx in their getting rich through Capitalism while espousing everyone else should live under Socialism
by Kenneth Schortgen, Shotgun Economics:
Perhaps one of the biggest reasons why Bernie Sanders is such a staunch advocate for Socialism and Communism is that his own life appears to mirror that of the very philosopher who created those economic models.
Both Karl Marx and Bernie Sanders were indifferent students at college and dedicated much of their time towards radical activism.
