Australia

Australia Mortgage Market Is Now A $1.7 Trillion "House Of Cards"

"This approach allows lenders to report the cross-collateral security of one property which is then used as collateral against the total loan size to purchase another property. This approach substitutes as a cash deposit.  It's a classic mortgage Ponzi finance model."

Trump: "Now Is Not The Time To Talk To North Korea"

President Trump spoke yesterday with UK Prime Minister Theresa Theresa May about North Korea and "agreed that this latest reckless act only strengthens the world’s determination to confront" growing threat from that nation, according to White House readout, adding that "now is not the time to talk to North Korea."

Syrian Army Breaks Deir Ezzor Siege At Moment The National Soccer Team Stuns World

Against all odds the Syrian Army has broken the years long ISIS siege of Deir Ezzor and is now poised to re-establish government control over Syria's east. And for the first time since the start of the war, Middle East analysts are predicting that Assad will eventually consolidate control over much of the entire country.

Frontrunning: September 6

  • Hurricane Irma makes landfall in the Caribbean (Reuters)
  • Social and Economic Polarization in U.S. Worsens, Poll Finds (WSJ)
  • Trump Risks GOP Civil War Pushing Congress for ‘Dreamer’ Bill (BBG)
  • Michael R. Bloomberg: Trump’s DACA Failure Is Congress’s Opportunity (BBG)
  • Array of Threats Stir Up Markets (WSJ)

Australia's Dystopian Future: A Nation Of High-Rise Renters

"Young Australians are increasingly likely to live most of their lives in high-density rented accommodation...The Committee for Economic Development of Australia (CEDA) concluded that capital city home ownership would continue to be unaffordable for at least the next four decades..."

Global Stocks Shake Off North Korea Jitters; Chinese Yuan Slides

Traders are eager to buy the latest dip, as US futures pared yesterday's losses before markets reopen after the Labor Day holiday, as global stocks looked to put any North Korean unpleasantries into the rear view mirror and assume another happy ending:

The Week's Key Events: All Eyes On The ECB

With the US markets closed today, market events this week will be dominated by G10 central bank meetings, among which the ECB stands out. In the US, the key economic release this week is ISM non-manufacturing on Wednesday, while several Fed officials are scheduled to speak this week.

The Growing Threat Of The Police State

"The ethos in the US really seems to be changing right before our very eyes, and I think it’s quite disturbing. It’s a harbinger, I’m afraid, of what’s to come."

Palladium Suddenly Spikes To 16-Year Highs

Amid hope for reinvigorated auto production (after Hurricane Harvey's destruction) and yesterday's escalation in US-Russia tensions (Russia being the world's largest producer), spot Palladium is spiking today, hitting its highest since record highs in January 2001.

Why Houston Doesn't Need Federal Flood Relief (In Four Charts)

" There is no doubt that Texas and Houston now face significant challenges in rebuilding after the flood. But, when we demand that other regions and states pay for the rebuilding of Texas, we're acting as if those other states and communities don't have problems of their own. "