ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
September 29, 2023 | Recession Watch: When Big Trends Collide
Let’s start with the US borrowers who can’t make their credit card payments: Is there a subprime credit card crisis on the horizon? (MarketWatch) – Subprime consumers are falling behind on their credit card bills. Borrowers with a VantageScore between 300 and 600 experienced an 8.9% delinquency rate — of 30 to 59 days — […]
September 29, 2023 | Extremely Low Rates Triggered a Mania Like the Tulip Bulb Story
History will judge that the long period of low interest rates, which endured from 2009 to early 2022 was a colossal mistake. Investors piled into fixed income assets that were extremely overpriced based on rates close to zero. And now most assets that are sensitive to rates are repricing sharply downward. Last week we saw […]
September 29, 2023 | Trudeau Removing Attorney Client Privilege For Taxes
Trudeau is Klas Schwab’s pet. He does as he is told. No world leader has sought to destroy the attorney-client privilege, but Trudeau is hunting money for taxes and removing the confidentiality between Canadians and their lawyers. What is next? Priests must report every sin to Trudeau they hear in confession. Trudeau is now passing […]
September 29, 2023 | Canadian Recession “Earlier and Harder”
Unfortunately, a decade of loose money and misallocated capital has set Canada up for a period of hard return. David Rosenberg, President and Chief Economist & Strategist of Rosenberg Research & Associates Inc., talks with Financial Post’s Larysa Harapyn about how Canada will get a recession ‘earlier and harder’. Here is a direct video link. […]
September 28, 2023 | Did Gold Bars Just Become An Impulse Buy?
One of the tough things about buying gold is the complexity. You have to find a dealer and look up their prices, choose a coin or bar from dozens of options, call in the order, and wire a large amount of money to people you’ve never met. Then comes the stressful wait while your cash […]
September 28, 2023 | China’s Housing Bust Spreads
Shares in the Chinese property firm Evergrande have fallen as problems in the country’s struggling housing market deepen – affecting the wider economy. Its mainland unit Hengda Real Estate has defaulted on 4bn yuan (£449m; $547m) of debt, it revealed on Monday. The BBC’s Analysis Editor Ros Atkins examines the background to the current crisis. […]
September 28, 2023 | Rota Resigns – Scapegoat for Trudeau
Speaker for the House of Commons Anthony Rota has resigned after embarrassing Justin Trudeau and Canada as a whole. Rota invited Yaroslav Hunka, former 14th Waffen Grenadier Division of the SS, to speak to the Canadian Parliament to impress Zelensky. The video of Zelensky and Trudeau giving this former Ukrainian Nazi a standing ovation is […]
September 27, 2023 | The Most Splendid Housing Bubbles in America, September Update: Spring Bounce Fades. 20-City Index -0.6% from Peak in 2022, Flat Year-over-Year
The S&P CoreLogic Case-Shiller Home Price Index, released today, for the 20 metros it covers ticked up 0.6% in July from June, the smallest month-to-month increase since February, continuing the trend of ever-smaller month-to-month increases following the powerful bounce in the spring, when three months in a row, the month-to-month jumps were 1.5% or higher. Compared […]
September 27, 2023 | EU Urged to Return Military-Aged Ukrainians Back For War
Behind the curtain, Zelensky has been quietly asking EU countries to send back men of military age who have fled Ukraine. Poland seems to be considering sending military-aged men back to Ukraine to die in this absurd war. Zelensky refuses to negotiate peace and has no problem sending Ukrainians to their death. All of this […]
September 27, 2023 | Financial Headwinds Intensify as Cash Dwindles and Debt Costs Leap
Trillions in emergency government handouts have been spent. Eighty percent of Americans now have less cash than when the Pandemic began. Only the wealthiest 20% of Americans still have some excess Pandemic savings, and that is expected to be fully consumed by the end of this month. All income groups have seen their balances decline in […]
September 26, 2023 | Real M2 Money Stock
The record y/y decline in M2 is just a correction within the rising trend.
September 26, 2023 | Wolf Richter On Why We Should Short The Homebuilder Stocks
Wolf Street’s Wolf Richter is doing a great job of dissecting the real estate market. Definitely consider supporting his efforts. His latest post is particularly on point for us since our portfolio contains short positions in three big homebuilders. Here’s an excerpt featuring some charts that illustrate the industry’s (apparently insoluble) problem: Prices of New Houses Drop, Sales […]
September 26, 2023 | Jeremy Grantham “Bubble Historian”
The below podcast with Grantham is nearly two hours long and broad in scope. Worth the time, IMHO. For those with less patience, you can read some key takeaways in 10 quotes from the interview. Also, this 2-minute TikTok reel offers a taste. @downtownjbrown Is This a Real Estate Bubble? @The Compound THe Compound and Friends […]
September 25, 2023 | Zelensky and Trudeau Give Nazi Standing Ovation
Is the propaganda working yet? Do you believe the West is really the good guy here? Ukraine and Russia continually point the finger and accuse the other of supporting Nazis. Well, jet-setting Zelensky recently visited Canada’s Parliament where they invited a literal former Nazi from World War II to speak. Yaroslav Hunka, former 14th Waffen […]
September 25, 2023 | McGill Housing Study: “Staggering Impact of Short Term Rentals”
Greater restrictions around short-term rental properties seems inevitable. A McGill University professor has found some eyebrow-raising numbers regarding short-term rentals in B.C. …“The report underscores the need for the Province of B.C. to implement a province-wide short-term rental registry and platform accountability measures to save tenants billions in rent and address housing supply, attainability, and […]
September 25, 2023 | Captain Tiff
Happy Monday Morning! Headline inflation ripped higher than expected this week, jumping back up to 4% for the month of August. It turns out Chrystia Freeland’s premature victory lap marked the bottom back in June. There’s a lesson here in base effects, you’d think her economics team would have tapped her on the shoulder back […]
September 24, 2023 | Polish President: Ukraine is Behaving like a Drowning Person Clinging to Anything Available
Polish President Andrzej Duda is taking a harsher stance on aiding Ukraine ahead of the October election. A Reuters poll noted that 91% of the population supported the war when it began, but that figure has dwindled to 69% and continues to decrease. Over 25% of Poles are against accepting Ukrainian refugees as well. Poland, […]
September 24, 2023 | One Last Turn of the Screw, then REAL Pain
The bullish gap on the chart holds ominous implications for the global economy, since it removes almost all doubt that interest rates on U.S. Treasury Bonds are headed significantly higher. The rally looks nearly certain to reach 4.81%, the target of the pattern shown. The red line through which the gap occurred last Thursday is a […]
September 24, 2023 | Mark Jeftovic: Cash Isn’t The Solution To CBDCs
Bombthrower Media’s Mark Jeftovic just posted some provocative thoughts on the timing of the forced migration to CBDS and how today’s seemingly omnipotent governments are dancing on the edge of the abyss. Here’s an excerpt: Cash will be no refuge under CBDCs The world is headed toward Central Bank Digital Currencies (CBDCs) and everybody knows it, even […]
September 24, 2023 | General Mark Milley – A Threat to the Nation?
Outgoing Chairman of the Joint Chiefs of Staff General Mark Milley is a Neocon. He has taken every possible action against Donald Trump because Trump was against war. His latest venture to support the neocons is to imply that Trump is a threat to nuclear war. He said that while the president has the […]
September 23, 2023 | Trading Desk Notes For September 23, 2023
KING Dollar higher for ten consecutive weeks The US Dollar Index registered its highest weekly close in ten months, up ~6% from the mid-July Key Turn Date. The Euro (the Anti-Dollar) has closed lower for ten consecutive weeks, falling ~6% from its mid-July highs. The Yen has dropped ~7% from its mid-July highs and closed this week at 10-month lows […]
September 23, 2023 | Unaffordable Homes and Cars
A new report from RATESDOTCA found that Canadians who took a five-year insured $500,000 variable-rate mortgage in the low-interest days of 2021 would be paying $23,579 more in cumulative interests by September 2023 compared to a fixed-rate mortgage option. See Variable rate mortgage holders on the hook for thousands in interest: The figure represents 63 per cent in […]
September 23, 2023 | Tech Talk for Saturday September 23rd 2023
The Bottom Line North American equity indices and related stocks are closely following their weakest period of the year from the second week in September to the second week in October. Broadly based U.S. equity indices completed Double Top or Head & Shoulders patterns (including a double top pattern the Dow Jones Industrial Average on […]
September 22, 2023 | Stock Market Traders Wishing for Rate Cuts Will Be Disappointed
The U.S. stock market sold off this week after the Federal Reserve announced that rates will have to stay higher for longer. But the stock market should be careful what it wishes for. The record shows clearly that rate cuts are usually bad for the stock market and the economy. This week Jerome Powell, chair […]
September 22, 2023 | Finally, The Housing Crash
Spiking interest rates are normally a death knell for homebuilders, for obvious reasons. Higher mortgage rates raise monthly payments, which crash house prices, which make existing houses cheaper than newly built ones, which causes demand for new houses to shrink, which causes homebuilders to lay off their workers and sell their spec houses and excess […]