Thursday, August 13, 2020

Trucking Boom Ends, Next Phase in Cycle Starts

by Wolf Richter, Wolf Street:

This is a very cyclical business. 

In December, orders for new Class-8 trucks — the heavy trucks that haul the products of the goods-based economy across the US — plunged by 43% from a year ago, to just 21,000 orders, the lowest since August 2017, and down by 60% from August 2018. The chart shows the percent change of Class-8 truck orders for each month compared to the same month a year earlier, which eliminates the effects of seasonality (data via transportation data provider FTR):

January 20: A ‘Super Blood Wolf Moon’ Will Cross Over America On The 2nd Anniversary Of Donald Trump’s Inauguration

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by Michael Snyder, The Economic Collapse Blog:

On the evening of the 20th of January, a very strange phenomenon will happen.  A total lunar eclipse that has been dubbed a “super blood wolf moon” will appear in the sky above America.  The entire eclipse from beginning to end will be visible from every single location in the continental United States, but much of the rest of the world will miss out on this experience completely.  For example, the eclipse will not be visible at all anywhere in China.  Some would argue that it is just a coincidence, but it is almost as if somebody arranged the timing of this “super blood wolf moon” so that it would be seen specifically by people living in the United States.  And it just so happens that this “super blood wolf moon” will occur precisely on the second anniversary of the inauguration of Donald Trump.

Market Report: Gold challenges $1300

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by Alasdair Macleod, GoldMoney:

Gold and silver rallied in a quiet week which straddled the year-end. Gold rose $11 by morning trade in Europe from last Friday’s close to $1292, and silver by 30 cents to $15.70 over the same time frame.

This week’s move continues a powerful rally, partly driven by bears closing short positions in a squeeze from mid-November onwards. Silver, which underperformed gold in 2018, has rallied even more strongly in percentage terms, up 12.2% since its mid-November low, while gold is up 7.7%. With a gold/silver ratio of 82.9 compared with 76.9 at this time last year, silver still has ground to make up.

UN Staff Member: 5G Is War on Humanity

by Sayer Ji, Green Med Info:

The first eight months of WWII with no fighting was called The Phoney War. Using millimetre waves as a fifth-generation or 5G wireless communications technology is a phoney war of another kind.

This phoney war is also silent, but this time shots are being fired – in the form of laser-like beams of electromagnetic radiation (EMR) from banks of thousands of tiny antennas[1] – and almost no one in the firing line knows that they are being silently, seriously and irreparably injured.

Three Ex-Credit Suisse Bankers, Ex-Minister Arrested Over $2 Billion Loan Fraud

from Sputnik News:

The arrested conspirators are said to be involved in a large-scale credit fraud that ruined the economy of Mozambique in 2016.

Three former Credit Suisse Group bankers have been arrested in London in connection with a loan fraud scheme that ruined the economy of Mozambique in 2016 according to UK authorities, cited by the South African Eyewitness News outlet.

Andrew Pearse, 49, Surjan Singh, 44, and Detelina Subeva, 37, have been charged in a federal court in Brooklyn, New York, and the US now seeks extradition of the three. The trio has currently been released on bail.

Keiser Report: ZIRP, Then NIRP in 2019 (E1328)

from RT:

In the second half, Max interviews guests for their 2019 predictions: Mitch Feierstein predicts ZIRP (zero interest rates policy), then NIRP (negative interest rates policy) as corporate debt and the EU implode and the yuan is devalued. Dan Collins of TheChinaMoneyReport.com predicts 2019 can possibly, at long last, be the year in which the Chinese economy actually does fall apart. Many big names in finance have predicted it over the past decade, but Dan thinks the corporate and household debt may finally catch up with the economy. Will the Chinese government force the zombie corporations and banks to die? Or will they prop them up as Japan chose to do? And what is in store for the Belt and Road Initiative and the trade war it has inspired with the US?

Boom-Bust Cycles, Easy Money, And The Gold Standard

from Silver Doctors:

Would the gold standard contribute to boom-bust cycles like the ones we see today as the result of printing money out of thin air? Here’s some insight…

by Frank Shostak of Mises Wire

Only a few months ago most economic commentators were sanguine about prospects for the US economy. Most of them did not expect an imminent downturn. Now all that has changed with most experts expecting the economy to enter a downward phase of the economic cycle by 2019. According to experts, the key factor behind the emerging downturn is the policies of the US President Trump in particular the imposition of tariffs on imports. Very few analysts however attribute the possible downturn to the decline in the annual growth rate of money supply. The exception here are the monetarists (i.e., the followers of Milton Friedman).

Decoupled From Oil and Sanctions Ruble Has Become Remarkably Stable, Good Candidate for Reserve Currency

by Tom Luongo, Russia Insider:

Probably not on a global scale or as the reserve currency, but between America’s anti-trade policies, Russia’s financial and monetary hawkishness and Moscow pushing for trade in national currencies with its neighbors and Asian powers the ruble is in a decent position to become a regional reserve currency — something PM Medvedev has revealed the government is actively working toward

The Russian ruble moved sharply this week as the global equity and commodities rout continues in the wake of the Federal Reserve raising interest rates.

Russia’s central bank over-reacted to a rise in inflation as the global economy moves towards a chaotic and politically dangerous 2019.