from The Morgan Report
David Morgan‘s weekly perspective for May 26th, 2017… Moody’s downgraded China. Chinese took issue with the action. Aussie dollar dropped, the Chinese Yuan was unmoved. Hong Kong spill over with increased risk to Chinese Economy. Housing bubble popped in Canada keeps getting worse. Growing poverty in Europe feeding extremism. Fertile ground for rightist populist movements. People have had it. Bankrupt Westinghouse has terminated pension plans for top management. Bitcoin surged to record. Stay tuned for David’s take on the crypto-currencies and precious metals. China accuses US of trespassing in the South China Sea. Increased global tensions. Terrorism fears in Asia as a number of terrorist attacks take place there. Brazil’s president orders troops to restore order there. Protesting economic reforms. Auto industry to be uprooted by self-driving vehicles and individual car ownership may become obsolete. Socialized automobile transportation is coming. And finally, America’s public pensions are in real trouble and there’s no way out. Gold and silver, London’s gold benchmark after several banks have withdrawn thus increasing volatility.
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