Economy
Harry Dent: Biggest Stock Market Bubble In History Set To Crash (Herman J.)
Harry Dent joined Carlos & Lisa to discuss his latest book, Zero Hour. Watch now to find out when is an economic downturn going to happen & why it’s almost guaranteed in the short term…and what you can do to avoid the inevitable chaos from the artificial stimulus collapsing.
The father of the yield curve indicator says now is the time to prepare for a recession (Thomas R.)
“This is the time where you need to reflect upon your strategy. It’s actually easy to manage assets when the economy is booming. It’s much more difficult to manage into a turning point,” Harvey told Josh Brown, CEO and co-founder of Ritholtz Wealth Management and a CNBC “Fast Money” contributor, in an interview for “The Compound” on YouTube. “It’s way better to have a plan to go by than to find yourself in a situation where the recession hits and you have to improvise.”
Fed, other regulators approve changes to ‘Volcker rule’ to ease bank restrictions (Thomas R.)
President Donald Trump has been a vocal critic of the Dodd-Frank Act, the law passed after the financial crisis to reorganize the banking system and that includes the Volcker rule. He has said it was too restrictive on banking activities and has made loosening the regulations imposed on banks a big part of his deregulation effort since taking office.
A Florida inmate’s secretly recorded film shows the gruesome reality of life in prison (Thomas R.)
For four years, the 34-year-old convicted drug trafficker captured daily life on contraband cameras at the Martin Correctional Institution. He smuggled footage dating back to 2017 out of the prison, and titled the documentary “Behind Tha Barb Wire.” The video — given to the Miami Herald — allows the public to see with their own eyes the violence, rampant drug use and appalling conditions inside the prison.
G.M. Strike’s Economic Toll Is Showing: ‘I Might Lose the Business’ (Thomas R.)
The most intense economic pain is being felt in the industrial Midwest, where G.M.’s network of plants and suppliers is thickest. It is a difficult time for the region’s manufacturing industry, which even before the strike was contending with slowing auto sales, a weakening global economy and the trade war.
New biometric system at Dubai airport: No passport or boarding pass needed (Sparky1)
At the on-going GITEX Technology Week show on Sunday, Major General Mohammad Al Merri, General Director of GDRFA-Dubai, told Gulf News: “Our participation this year in Gitex is very special for visitors as they can experience the most exciting and virtual Biometric Passenger Journey in the world by using artificial intelligence,” Maj Gen Al Merri said.
This country just passed the U.S. as the world’s most competitive economy (Thomas R.)
Hong Kong, the Netherlands and Switzerland rounded out the top five places in the rankings.
The report’s index maps out the competitive landscape of 141 economies based on more than 100 indicators in a dozen categories.
Merk U.S. Business Cycle Report – October 2019 (Axel M.)
Global economic momentum was mixed over the past month. Seven out of the twelve readings remain below 50, i.e., in contractionary territory. Given my framework I’m negative on this picture. Chart Framework: to get positive on this picture the majority of Mfg PMIs would have to be above 50.
PitchBook-NVCA Venture Monitor (James G.)
Despite some high-profile hiccups in the exit market, total exit value for 2019 is already at an all-time high of more than $200 billion with a quarter still to go. Fewer VC funds are being closed, but 15 mega-funds have been raised YTD and more are on the horizon, laying the foundation for strong VC activity in the coming quarters.
Most interesting video discussion about key historical facts (Afridev)
I am posting a video sent to me by a friend. Sadly, I don’t know anything about the two gentlemen talking, but I can say that everything they say does fully match with my own understanding of these events.
Serenity Prayer for Central Bankers (GE Christenson)
Later the meeting of Central Bankers Anonymous adjourned. Members returned to their magnificent homes, smiling and self-satisfied. The printing presses, liquidity injections, monetizations and Quantitative Easing operations would proceed, and perhaps accelerate.
Oops, sorry! Twitter ‘inadvertently’ feeds users’ emails and phone numbers to advertisers (Thomas R.)
Twitter users may have been “matched” to advertiser marketing lists based on the phone and email information provided for “two-step authentication,” a security feature that requires a user provide additional credentials beyond the typical email and password before they can log in.
While the company says it fixed the error in mid-September, it “cannot say with certainty” just how many of its 126 million daily users may have been served up to advertisers, using their information without permission.
EIA Sharply Cuts Oil Price Forecast (Thomas R.)
The EIA forecasts 29.8 million bpd for the full year 2019 crude oil production, which is down 2.1 million bpd from full year 2018. Full year 2020 OPEC production is expected to be under 2019, at 29.6 million bpd. For the United States, full-year 2019 production is expected to average 12.3 million bpd, which is 1.3 million bpd over 2018. Full-year 2020 production in the United States is expected to increase to 13.2 million bpd, reaffirming global fears that US production increases will more than offset OPEC’s curbs for next year.
Wildfires a massive threat to California’s progress in cutting greenhouse gases, report says (Thomas R.)
The report, prepared by the independent consulting firm Beacon Economics for the Next 10 think tank, describes a vicious circle in which air pollution from fires, growing more intense and destructive with the warming climate, threatens to undermine the state’s progress in reducing greenhouse gas emissions.
Blizzard-Like Weather Approaches, Only Half of Corn Is Mature, USDA Says (Thomas R.)
In its weekly Crop Progress Report, the USDA pegged the U.S. corn harvest at 15% complete vs. an 27% five-year average.
The overall condition of the corn crop is rated at 56% good to excellent in the top 18 corn producing states vs. 57% a week ago.
Want to know what climate change feels like? Ask an Alaskan. (AKGrannyWGrit)
Similar reports of dead pink salmon came in all across the Norton Sound that week as temperatures soared into the high 80s and low 90s during a statewide heatwave that “re-wrote the record books,” according to the National Oceanic Atmospheric Administration. Fisheries biologists say that’s no coincidence: Warm water stresses the animals out, and temperatures above a certain threshold can kill them. In a statement issued on July 11, the Norton Sound Economic Development Corporation warned that the salmon die-offs appeared to be part of a “larger ecosystem-level shift” taking place due to rising temperatures.
Gold & Silver
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