Billionaire Capital Turns Into Ghost Town: "Home Contracts Down 80%", Trophy-Cars Pile Up In Showrooms
WA Goes After Pre-Crime: Gun Confiscation Proposed For Those "Likely To Commit Violence In The Near Future"
$356 Billion Fund Manager: "Now Is The Most Treacherous Time Ever. I've Never Seen This In My Career"
In a week dominated with headlines of continued easy money from the Federal Reserve, domestic civil unrest and the sound of war drums beating in North Korea, Syria, Ukraine, Russia, and elsewhere; the metals fulfilled theirintended role as a hedge against the madness of our day.
While the metals and miners were up sharply this week,mining stocks (GDX & SIL) remain below a slightly down-sloping 50MA. The metals still have some nearby overhead resistance levels to clear before I’ll become overly confident of a sustained move to the next key resistance areas.
Some say the U.S. dollar may die 5 days hence. The Chinese renminbi will kill it. Much is being made of plans by the International Monetary Fund (IMF) to add the renminbi to its basket of strategic reserve currencies called Special Drawing Rights (SDR). The IMF will make the change on October 1. While the implications for the Federal Reserve Note, currently the U.S. dollar, as the world’s primary reserve currency may be profound over time and the importance of this even should not be overlooked, the impact is unlikely to happen overnight.
Over 7 years of supply.
The Miami housing market has split in two diverging segments: single-family homes and condos. For now, the single-family market is hot.
Sales of existing single-family homes in Miami-Dade County jumped 8.7% from a year ago to 1,232 units, the highest for any August ever, according to the Miami Association of Realtors. In terms of dollars, total sales soared 16% to $569 million and the median price 14.5% to $300,000. This marks the 57th month in a row of year-over-year price gains.
Aleppo — Days after the latest ceasefire between the U.S.-backed rebels and the pro-Assad Syrian military officially cratered, war-torn Aleppo received its heaviest bombardment in months late Wednesday, Reuters reports:
“Warplanes mounted the heaviest air strikes in months against rebel-held districts of the city of Aleppo overnight, as Russia and the Syrian government spurned a U.S. plea to halt flights, burying any hope for the revival of a doomed ceasefire.
“Rebel officials and rescue workers said incendiary bombs were among the weapons that rained from the sky on the city. Hamza al-Khatib, the director of a hospital in the rebel-held east, told Reuters the death toll was 45.”
Besieged Globalists Ponder What Went Wrong … Until recently, you didn’t hear people being referred to as “globalist” very often. But in a time of rising nationalism, those who see the upside of globalism have become a distinct — and often embattled — tribe. – New York Times
No. Untrue. Everything we understand about globalism leads us to believe that its “embattled” nature is by design.
Globalism is itself confrontational and ultimately tyrannical. It cannot be otherwise.
What The New York Times is providing us with here is a meme, propaganda designed to make us believe that globalism has come under unprecedented attack and that globalists are now “besieged.”