Recession

Stocks Slide After Trump Threatens Government Shutdown Over Wall Funding, Killing NAFTA

US equity futures reversed early gains to slip as much as 0.3% following a fiery Trump campaign rally speech in which he threatened to shutdown government over border wall funding. Additionally, the yen strengthened, while the Mexican peso weakened 0.2 percent as the president also said he might terminate the North American Free Trade Agreement at some point.

Here's How The Next Recession Begins

"Progress occasionally requires the decimation of entire industries, and that’s what’s happening now... In the long-run it’s better for everyone. But shorter-term, there’s going to be a lot of pain."

Will They Haul Off Trump's Statue, Too?

"We take for granted, too, that our officials are miracle workers... and that we live among the gods themselves in an economy that never takes a breather... a stock market that only goes up... and something for nothing until Hell freezes over...But a recession cannot be far off. When it comes, the stock market will go down in sympathy. Then, Mr. Trump’s statue might be hauled off, too, before it is ever put up."

Sell US, Buy Japan?

"...Yeah, yeah, I know. Japan’s demographics are terrible. Their debt to GDP is mind numbingly large. It certainly appears as if their ability to grow is hampered by many handicaps... But since when have fundamentals mattered?"

Rickards Exposes The Elite's Plan To Freeze The Financial System

"Today’s complacent markets are faced with a number of potentially destabilizing shocks... Any one of them could potentially lead to another financial crisis. And the next crisis could see draconian measures by governments that most people are not prepared for today."

The Great Disconnect: Markets Vs. Economy

"While the Fed keeps promising with each passing year the economy will come roaring back to life, the reality has been that all the stimulus and financial support can’t put the broken financial transmission system back together again. Eventually, the current disconnect between the economy and the markets will merge. My bet is that such a convergence is not likely to be a pleasant one."

Housing Recovery False Alarm - Starts, Permits Plunge In July As Rental Units Collapse

Following June's huge surprise jumps in Housing Starts (revised lower) and Building Permits (revised notably higher), July saw both starts and permits plunge (-4.8% and -4.1% respectively) dramatically missing expectations. The majority of the plunge is driven by multi-family starts crashing 35.2% YoY to its lowest since Sept 2016.