'We're at 15 minutes to midnight': Citi predicts US recession this year

'We're at 15 minutes to midnight': Citi predicts US recession this year

Citigroup says its recession model is flashing red warning signals. The US economy will be contracting by December By Ambrose Evans-Pritchard, The Telegraph 03/29/2019 Citigroup has issued an explicit recession warning for the United States, advising clients to wind down exposure to risky assets and prepare to ride out the storm. The bank’s global [...] Read more

Russia is stocking up on gold as Putin ditches U.S. dollars

Russia is stocking up on gold as Putin ditches U.S. dollars

By Andrey Biryukov, Rupert Rowling and Yuliya Fedorinova, Bloomberg News 29/03/2019 Vladimir Putin’s quest to break Russia’s reliance on the U.S. dollar has set off a literal gold rush. Within the span of a decade, the country quadrupled its bullion reserves, and 2018 marked the most ambitious year yet. And the pace is keeping up so far this year. [...] Read more

WeWork’s $1.9 Billion Loss Is A Typical Tech Bubble 2.0 Story

03/ 28/2019 By Jesse Colombo On Monday, unicorn WeWork reported that it lost $1.9 billion on $1.8 billion revenue in 2018. WeWork is a company that provides shared workspaces and related services for startups. WeWork can be thought of as a company that sells “picks & shovels” to the startup community and is, therefore, a play on the tech [...] Read more

Recession cometh

03/27/2019 By Tuomas Malinen Yield curve inversion has spooked the markets. In all honesty, it should not have come as a surprise. After the Federal Reserve pivoted early January and utterly capitulated in early March, everyone should have deduced that something was seriously wrong with the US economy. Bond markets have already signaled this for a [...] Read more

The Road Ahead for the Dollar

03/19/2019 By Hugo Salinas Price The original silver dollar, created at the birth of the United States, was based upon the silver Spanish “Pieces of Eight” minted at the Royal Mint in Mexico City, under Spanish rule at that time. This was a very widely used coin throughout the world. Because in its early years the US had no mint, the first US [...] Read more

Mali will reduce gold production by 3% in 2019

03/25/2019 BAMAKO, March 25 - RIA News / Prime. Gold output in Mali in 2019 will decrease by 3% to 59 tons as a result of the projected reduction in production at several fields, the ministry of mining said. In particular, B2Gold expects a decline in gold production at the new Fekola deposit to 13 tons from 14.8 tons by the end of 2018, while [...] Read more

Robbers postal stagecoaches or something from the hard life of idiots

A man with glasses and a mask, threatening with a pistol, demanded to give him money. But the branch does not work with cash, and the robber disappeared with nothing. Now the police are looking for him. 03/22/2019 By Anna Trunina, Egor Gubernatorov, RBC An unidentified masked figure burst into a branch of one of the banks in the north of Moscow [...] Read more

For The Average Investor, The Next Bear Market Will Likely Be The Last

Вy Lance Roberts 03/ 25/2019 Just recently Anna-Louise Jackson published an interesting article asking if “The Financial Crisis” still haunted your investing. To wit: “This month marks the 10-year anniversary of the current bull market’s beginnings. Yet, many Americans remain reluctant to invest in the stock market, a scary hangover from the [...] Read more

Weekly Commentary: Doing Harm with Uber-Dovish

By Doug Noland, Credit Bubble Bulletin 03/23/2019 This week’s FOMC meeting will be debated for years – perhaps even decades. The Fed essentially pre-committed to no rate hike in 2019. The committee downgraded both its growth and inflation forecasts. Having all at once turned of little consequence, we can now dismiss the 3.8% unemployment rate and [...] Read more

Is Inflation Beginning? Are You Ready?

By MN Gordon 03/22/2019 “Those who cannot remember the past are condemned to repeat it,” remarked George Santayana over 100 years ago. These words, as strung together in this sequence, certainly sound good. But how to render them to actionable advice is less certain. Aren’t some facets of the past – like the floppy disk – not worth remembering? [...] Read more

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