(Zero Hedge) Yesterday, in a lengthy article referencing the ongoing dollar and funding liquidity collapse as a result of the aggressive rebuild of the Treasury’s cash balance from $133BN to $350BN in the aftermath of the debt ceiling deal, we said “Forget China, The Fed Has A Much Bigger Problem On Its Hands.”
Economy
What Are The Consequences Of Being Named A Currency Manipulator: China
(Zero Hedge) As everyone knows by now, after the market closed on Monday, the US Treasury unexpectedly named China a currency manipulator, which naturally will be viewed as an escalation of the trade war and exacerbate the market sell-off, even if the PBOC briefly limited the selloff overnight by fixing the yuan slightly higher than expected (don’t expect this calm to last).
Amazon Is Now Just an Extension of the “Military Industrial Complex” And the CIA Deep State, with High-Profit Ties to Pentagon
(JD Heyes) POTUS Donald Trump may have jabbed fellow billionaire Jeff Bezos, founder of Amazon and owner of The Washington Post, over his paper’s blatant Left-wing slant and bias, but his Pentagon is ensuring that the mega-e-tailer continues to amass a great deal of wealth — as part of the Deep State’s “military-industrial complex.”
Banking Collapse: A Bank With 49 Trillion Dollars In Exposure To Derivatives Is Melting Down Right In Front Of Our Eyes
(Michael Snyder) Could it be possible that we are on the verge of the next “Lehman Brothers moment”? Deutsche Bank is the most important bank in all of Europe, it has 49 trillion dollars in exposure to derivatives, and most of the largest “too big to fail banks” in the United States have very deep financial connections to the bank.
Trump’s Re-election? Did the Federal Reserve Already “Decide the 2020 US Election”?
(Collective Evolution) As of beginning July 2019 prospects look positive for a re-election ofDonald Trump as President in November 2020. Headline stock market and GDP figures all look positive…at the present. The huge unanswered question is whether that can be sustained until the fateful elections. We see signs already that spell potential trouble for the Republicans.
Facebook Shares Tumble After Report Zuckerberg Knew Of “Questionable” Privacy Practices
(Zero Hedge) Shares of Facebook tumbled on Wednesday after emails emerged which appear to show Facebook CEO Mark Zuckerberg’s knowledge of questionable privacy practices at the company, according to the Wall Street Journal, citing people familiar with the matter.
Raytheon to Merge With United Technologies, Creating a ‘Military-Industrial Behemoth’
(Jake Johnson) In a move that immediately sparked concerns among anti-trust advocates, weapons manufacturer Raytheon and aerospace giant United Technologies agreed Sunday to a $120 billion merger that was described as one of the largest-ever combinations of two defense contractors.
This Wasn’t Supposed To Happen: U.S. Employment Growth Just Plunged To The Lowest Level In 9 Years
(Michael Snyder) If the U.S. economy was heading into a recession, we would expect to see a slowdown in the employment numbers, and that is precisely what is happening. According to payroll processing firm ADP, the U.S. economy only added 27,000 new jobs in May, and that is way below the number that is needed just to keep up with population growth. Of course some in the mainstream media are attempting to put a positive spin on this, but there really is no denying that this is a truly awful number. In fact, we have not seen a number this bad in more than 9 years…
Goodbye Middle Class: The Percentage Of Wealth Owned By The Top 10% Just Got Even BIGGER
(Michael Snyder) The middle class in America is being systematically eviscerated, and it is getting worse with each passing year. As you will see below, one new study has found that 10 percent of Americans now own 70 percent of all the wealth.
Thriving Hemp Industry is About to Create a Jobs Boom in the US
(Emma Fiala) Thanks to a provision in the 2018 Farm Bill, hemp is no longer a federally illegal controlled substance in the Unites States. The passage of the Farm Bill allows farmers and cultivators to grow the once demonized cannabis plant and even restart long forgotten operations.
10 Myths About Government Debt — According to an Economics Professor
10 Myths About Government Debt — According to an Economics Professor
The World’s Central Banks Are Buying Gold At The FASTEST PACE In 6 years!
(Mac Slavo) The central banks of the world have been buying up gold at the fastest rate in 6 years. This is flashing warning signs for the future of the United States dollar.
China Calls For “People’s War” Against the US, Vows to “Fight for a New World”
(Anti-Media) While market mood has shifted diametrically from yesterday, with stocks sharply higher on Tuesday following what has widely been interpreted as conciliatory comments from both president Trump and various members of China’s ruling elite, one would be hard pressed to find any de-escalation amid the Chinese press commentaries written in the aftermath of the latest escalation in trade war between the US and China.
Stocks Crater – 3.5 Trillion Dollars In Global Market Cap Wiped Out – China Considers “Dumping U.S. Treasuries”
(Michael Snyder) Wall Street responded to our escalating trade war with China by throwing a bit of a temper tantrum. On Monday the Dow Jones Industrial Average was down 617 points, and that was the worst day for the Dow since January 3rd. But things were even worse for the Nasdaq.
The Deadline Passes And Trump Brings Down The Tariff Hammer – China Immediately Promises To Retaliate
(Michael Snyder) At 12:01 AM eastern time on Friday, President Trump followed through on his threats and hit China with a massive tariff increase. As you will see below, China immediately pledged to retaliate. U.S. and Chinese officials will continue to negotiate throughout the day on Friday, but if U.S. officials were optimistic that a deal was imminent the trigger never would have been pulled on these tariffs.