Monday, December 9, 2019

It Gets Spiky: The Most Splendid Housing Bubbles in America

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by Wolf Richter, Wolf Street:

Historic spikes in Seattle and other metros. But New York condos skid.

Prices of houses and condos across the US surged 6.4% in April from a year earlier (not seasonally-adjusted), and a sharp 1% from March, according to the S&P CoreLogic Case-Shiller National Home Price Index, released this morning. The index is now 8.8% above the nutty peak of “Housing Bubble 1” in July 2006 just before it collapsed, and 50% above the trough of “Housing Bust 1.” Note the disproportionate spike in April:

How Long Can The Federal Reserve Stave Off the Inevitable? — Paul Craig Roberts

by Paul Craig Roberts, Paul Craig Roberts:

When are America’s global corporations and Wall Street going to sit down with President Trump and explain to him that his trade war is not with China but with them? The biggest chunk of America’s trade deficit with China is the offshored production of America’s global corporations. When the corporations bring the products that they produce in China to the US consumer market, the products are classified as imports from China.

Six years ago when I was writing The Failure of Laissez Faire Capitalism, I concluded on the evidence that half of US imports from China consist of the offshored production of US corporations. Offshoring is a substantial benefit to US corporations because of much lower labor and compliance costs. Profits, executive bonuses, and shareholders’ capital gains receive a large boost from offshoring. The costs of these benefits for a few fall on the many—the former American employees who formerly had a middle class income and expectations for their children.

Here It Comes – The Warnings About A “Civil War In America” Are Becoming Much Louder

by Michael Snyder, The Economic Collapse Blog:

Civil conflict is coming to America, and it is going to tear our nation apart. Earlier today I received an email from a good friend about the rising tide of anger and frustration that we are currently witnessing in America. After thinking about it for a few moments, I wrote back and told him that I don’t know if there is any way to stop what is coming at this point. In my entire lifetime, we have never been closer to a “civil war” in this country than we are right now. Let us work for peace, but it would be foolish to ignore the forces that are ripping the fabric of our society to shreds. In this day and age, the coming conflict will not be between two armies from specific geographical locations. Rather, it will be between groups of Americans with fundamentally different ideologies. However, just like in our first civil war, American cities will burn before it is all said and done. First there will be massive protests, then there will be widespread violence, and ultimately there will be mobs of lunatics running around smashing things, looting, stealing, killing and setting things on fire.

GOLD DOWN $9.10 TO $1258.20/SILVER DOWN 8 CENTS TO $16.25 ON COMEX EXPIRY DAY

by Harvey Organ, Harvey Organ Blog:

IRAN IN TURMOIL AS THE RIAL DEVALUES TO 90,000 TO THE DOLLAR/3 DAY RIOTS IN VARIOUS CITIES INSIDE IRAN INCLUDING TEHRAN/HUGE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1258.20 DOWN $9.10(COMEX TO COMEX CLOSINGS)

Silver: $16.25 DOWN 8 CENTS (COMEX TO COMEX CLOSINGS)

Cashless society, negative interest rates and hyperinflation – part 2

by BullionStar, Gold Seek:

Imagine a country in which banks hold virtually no cash at all. A country where if you walk into a bank branch, the clerk won’t be able to help you make a deposit. A country where there’s a good chance that if you grabbed a wad of cash and walked into an electronics store or a major nightclub, they wouldn’t be able to assist you in buying a new computer, nor get your drink on.

Lehman Crisis event management – Jim Willie Interview

by Chuck Ochelli, Chuck Ochelli:


Somebody needs to go to jail and stop writing books. Eurasian trade zone. The impending collapses of German and Italian banks are the dominos waiting to tumble.

Where does this leave the US in light of latest tariffs, where’s the trade war going? Italians will handle things their way.

Where has all the stolen gold gone? Asian and Russian trade will be something to behold. Jim talks a little about weed.

EU is separating but will that mean better deals for the UK or not? Jim thinks Trump is going to fix up the crumbling infrastructure in the U.S. Guess we’ll see.

How high will oil go before the petrodollar rug is pulled out from under the system? Jim also outlines Trump 2020 campaign strategy.

Who is currently stockpiling gold, It appears as though proxies buyers are snatching up physical supplies while the price of gold is not moving as it should.

Click HERE to listen

Read More @ Ochelli.com

Central banker lets slip that Global Financial Reset is underway as government’s prepare for collapse of current system

by Kenneth Schortgen, The Daily Economist:

For anyone who does even a modicum of research, the 2008 financial crash was not just a cyclical ‘bump’ in the credit cycle, but an actual death event for the entire financial system.  And this is primarily why central banks like the Fed, ECB, and BOJ have had to constantly fund their ‘life support patient’ with endless amounts of QE, Zero percent Interest Rates, and even Negative Rates.

In fact despite the reality of tens of trillions of dollars printed and monetized by the central banks over the past seven years in both the U.S. and in Europe, most banks remain underfunded, and pretty much insolvent if they had to administer true accounting practices.

The Cycle of Freedom

by Jeff Thomas, International Man:

Periodically, I offer up a statement by Scottish economist Alexander Tytler, who, in 1787, was reported to have commented on the then-new American Republic as follows:

A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.