Andrew Roberts, the bank’s credit chief, said both global trade and loans are contracting, a nasty cocktail for corporate balance sheets and equity earnings, and uncharted waters given that debt ratios have reached record highs.
“China has set off a major correction and it is going to snowball. Equities and credit have become very dangerous, and we have hardly even begun to retrace the ‘Goldilocks’ love-in of the last two years,” he said.
Economic Collapse Happening Now: Rob Kirby (pinecarr)
One of the many lies Kirby points out is the Fed’s recent rate hike because the economy had improved. Kirby disagrees and says, “My analysis says nothing could be further from the truth. . . . U.S. dollar reserve holdings have dropped close to $1 trillion in the last eight or nine months, and that’s on a global scale. What happens when reserves drop means that foreigners have been selling U.S. government securities. They are abandoning the dollar, and if foreigners are abandoning the dollar, the question is who’s buying them? The answer to who is buying the reserves is the U.S. Treasury itself. Specifically, it is the Exchange Stabilization Fund (ESF) within the U.S. Treasury.”
When retailers do not order goods, manufacturers don’t make anything because there are no orders to fill. When manufacturers do not make goods, they don’t order raw materials for manufacturing.
When there are no orders for raw materials, commodities sellers do not sell raw materials. When no raw materials are sold, there is no shipping by large cargo ships, (or railroads or tractor trailers) to move anything.
It’s tempting to write this man off as dangerously deluded, treacherously naïve, and clueless to the point of civic incompetence. However, he is not alone in his goose-stepping, comfort-loving, TV-watching, insulated-from-reality devotion to the alternate universe constructed for us by the Corporate State with its government propaganda, pseudo-patriotism and contrived political divisions.
Gold’s Last Chance: It’s Now Or Never (Taki T.)
As the first table shows, gold lost 10% in U.S. dollar, Swiss Franc, and Japanese Yen. Note, however, that Yen gold is trading very close to all-time highs, and some 30% below its highs in Swiss Franc. So the picture does not look very good in U.S. dollar, but that is about the only exception.
According to public disclosures, by giving just 12 speeches to Wall Street banks, private equity firms, and other financial corporations, Clinton made $2,935,000 from 2013 to 2015 … Clinton’s most lucrative year was 2013, right after stepping down as secretary of state. That year, she made $2.3 million for three speeches to Goldman Sachs and individual speeches to Deutsche Bank, Morgan Stanley, Fidelity Investments, Apollo Management Holdings, UBS, Bank of America, and Golden Tree Asset Managers.
How to Profit on the Dollar’s Strength (Tiffany D.)
La Serena Golf is a new development on Uruguay’s Atlantic coast, near the town of La Paloma, in rural Rocha province. It’s a few dozen miles northeast of Punta del Este, the fabulous resort town where I first tasted brains. While Rocha isn’t a bustling year-round destination like nightclub-heavy “Punta,” its untouched Atlantic beaches and cool ocean breezes make it an attractive residential choice for the summer months, when Punta itself is packed with Argentine and Brazilian holidaymakers. Many of the plots have ocean views, and/or frontage on the fish-packed Laguna de Rocha.
It is expected that a return to growth for defense subsector companies will likely occur, due to the increased interest by several involved nations as described above. In addition, many large, mainly US DoD defense programs representing billions of US dollars, are likely to start soon, enter the engineering manufacturing design phase, and reach low-rate or full-scale production over the next few years. These programs include Ohio Class Submarine replacement, F-35 fighter jet, KC-46A aerial refueling tanker, Long Range Strike Bomber, USAF T-X trainer, and Rafale fighter programs.
The hybrid minivan is powered by a battery charge that can cover 30 miles of driving, at which point a gasoline engine kicks in to extend its range. The company estimates that the vehicle will achieve an equivalent of 80 m.p.g. in city driving.
One hybrid alone will not improve Fiat Chrysler’s corporate average fuel numbers enough to meet the coming standards. Last year, the company’s fleetwide average was about 22 miles per gallon — making it one of the least fuel-efficient companies in the industry.
Just as importantly, Google’s service is based on its own data which are just estimates of actual usage. For instance, using a five-story apartment building address in the calculator and looking at the total savings if the entire flat building roof were covered in solar panels, Google’s calculator projected present value savings of $4,000 for a twenty year panel life. That number is obviously far too low. The area in question – Hartford, CT – has very high electricity prices, and a five story building containing 70 apartments would likely save that much money in the two years if it were on solar power especially given there are no trees in the area and the roof is not shaded by any nearby taller buildings.
Take B.C.’s halibut fishery for instance, which is run in such a perverse way that most fishermen have seen their rewards so whittled down that it barely makes financial sense to leave the wharf. New fishermen are scarcer than blue whales, and the bulk of the benefits flow to “investors,” big processing companies, even foreign corporations.
Gold & Silver
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