A Look At The USD Reaction To All The Recent Data and The Fed’s Comments On Inflation
Marc Chandler, Managing Partner at Bannockburn Global Forex joins me today to recap the major data of the week and look closely at how the USD has reacted so far to Q1 GDP, jobs data, and the Fed statement. We also discuss the Fed’s comments when it come to inflation.
Click here to visit Marc’s blog where he posts great content everyday.
Those are some damning facts if true Jerry.
OOTB – Thanks for posting those 19 facts from the article.
That is not a very robust picture of the economy despite all the pundits chest-beating about how healthy and strong the economic picture is.
There is sickness under the surface and many early warning signs covered up by a juiced up stock market where only a few high flyers are holding the index up, but the breadth is shrinking. There are many stocks in the general indexes putting in 52 week lows as Dana Lyons mentioned earlier in the week.
Just trying to do my part…….. but, thanks for mention…… 🙂
Episode #335 $12,000 Bitcoin: Barry Schmelling Predicts
Ira’s metals
The following are 19 facts about our current economic performance that should deeply disturb all of us…
#1 In April, U.S. auto sales were down 6.1 percent. That was the worst decline in 8 years.
#2 The number of mortgage applications has fallen for four weeks in a row.
#3 We just witnessed the largest crash in luxury home sales in about 9 years.
#4 Existing home sales have now fallen for 13 months in a row.
#5 In March, total residential construction spending was down 8.4 percent from a year ago.
#6 U.S. manufacturing output was down 1.1 percent during the first quarter of this year.
#7 Farm incomes are falling at the fastest pace since 2016.
#8 Wisconsin dairy farmers are going bankrupt “in record numbers”.
#9 Apple iPhone sales are falling at a “record pace”.
#10 Facebook’s profits have declined for the first time since 2015.
#11 We just learned that CVS will be closing 46 stores.
#12 Office Depot has announced that they will be closing 50 locations.
#13 Overall, U.S. retailers have announced more than 6,000 store closings so far in 2019, and that means we have already surpassed the total for all of last year.
#14 A shocking new study has discovered that 137 million Americans have experienced “medical financial hardship in the past year”.
#15 Credit card charge-offs at U.S. banks have risen to the highest level in nearly 7 years.
#16 Credit card delinquencies have risen to the highest level in almost 8 years.
#17 More than half a million Americans are homeless right now.
#18 Homelessness in New York City is the worst that it has ever been.
#19 Nearly 102 million Americans do not have a job right now. That number is worse than it was at any point during the last recession.
ZEROHEDGEhttps://www.zerohedge.com/news/2019-05-03/try-claiming-america-booming-after-reading-these-19-facts-about-our-current