Economy
The U.S. housing market is currently marked by significant regional disparities. In the South, Sunbelt, and Midwest, inventory is surging, prices are declining, and investors are reportedly selling properties at losses. Conversely, the Northeast and parts of California are experiencing inventory shortages, causing prices to rise. Despite recent interest rate cuts by the Federal Reserve, homebuyer demand remains at a 30-year low, indicating that lower mortgage rates alone may not revive the market. Housing analyst Nick Gerli of Reventure Consulting notes that market dynamics vary greatly by region, with Florida seeing a doubling of inventory and falling prices, while states like Illinois and New York face inventory shortages that support higher prices. The broader economic outlook, including potential rising unemployment and stock market corrections, could further impact the housing market.
In the financial sector, NatWest Bank has introduced a carbon footprint tracker within its smartphone banking app, which monitors customer purchases and issues warnings for buying meat and dairy products, urging them to switch to plant-based alternatives. This initiative is part of a broader effort to address the climate crisis, although it has been criticized as intrusive and patronizing. Similar initiatives by other companies, like Tesco advising on salt intake, have also faced backlash. Critics argue that individuals should have the freedom to make their own choices without being scolded by their bank.
In China, the People’s Bank of China is implementing measures to stimulate the economy, including cutting various interest rates and reserve requirements, which will free up substantial liquidity. They are also lowering mortgage rates and encouraging borrowing to buy stocks. This aggressive easing suggests a sense of urgency, potentially leading to higher commodity prices and inflation. The S&P 500 has been hovering just below a key target, with potential for both significant upside and downside. Traders are advised to be cautious and watch key levels closely.
Finally, Michael Oliver discusses anticipated movements in gold and silver prices, predicting significant increases due to technical factors and the relative undervaluation of silver compared to gold. He notes that gold miners, particularly juniors, are historically cheap and poised for substantial gains. The stock market, particularly the NASDAQ 100, is at a critical juncture, with potential significant downturns driving more money into bonds and gold. Oliver emphasizes the importance of staying informed and properly invested during these volatile times.
Geopolitics
Ukrainian President Zelenskyy has been actively advocating for continued American support in Ukraine’s war against Russia. His recent visit to Scranton, Pennsylvania, a key swing state, has drawn criticism as election interference by a foreign nation. Zelenskyy’s reliance on U.S. support, particularly from President Biden, contrasts with former President Donald Trump’s approach, which includes withdrawing U.S. involvement to boost the American economy. The Minsk Agreements, intended to halt the fighting, are cited as having failed due to strategic delays that allowed Ukraine to strengthen its military. The upcoming U.S. election presents a choice between ending or continuing U.S. involvement in the conflict, with significant implications for foreign policy.
Recent developments in Washington, D.C., suggest a significant shift in U.S. foreign policy. The UK, under Prime Minister Keir Starmer, has been pushing to escalate the proxy war against Russia, including the use of long-range precision missiles. However, a planned agreement between the U.S. and UK to escalate actions against Russia hit a snag, suggesting internal opposition within the U.S. military leadership. This shift in U.S. policy is also evident in the Middle East, where the U.S. has informed Israel that it would not support them in a conflict with Hezbollah or Iran.
In Asia, Japan reported a confrontation with Russian planes that violated its airspace north of Rebun Island in Hokkaido. This incident adds to the growing tensions in the region, with potential implications for future conflicts.
Finally, the United Nations (UN) is preparing for the ‘Summit of the Future’ in September 2024, where it aims to establish a series of pacts, including the ‘Pact for the Future’ and ‘Global Digital Compact.’ Critics argue there is no lawful authorization for delegates to vote on these documents and urge public participation to voice objections. The summit will gather leaders from UN Member States to reaffirm commitments like the Sustainable Development Goals (SDGs) and the UN Charter. The concept of “future generations” is criticized as a pretext for a select few to impose rules on billions of existing people. There is growing international resistance due to the UN’s secretive negotiations and top-down approaches.
Sources
U.S. Housing Market Faces Turbulence: Investor Sell-Offs and Regional Disparities Signal Potential Price Corrections
It’s a combination of two different stories and two different regions. In the South, Sunbelt, and Midwest, we are definitely seeing a downturn play out in those local housing markets. Inventory has surged, median list prices are declining, and we’re seeing investors in particular sell out of a lot of these housing markets in the South and Sunbelt.
Source | Submitted by rhollenb
Zelenskyy Visits Pennsylvania: Election Interference or Diplomatic Outreach?
The Democrats and Ukraine’s Zelensky believes America and all Western nations should set themselves on fire to keep Ukraine warm.
Source | Submitted by rhollenb
NatWest Bank’s New App Tracks Your Carbon Footprint and Scolds You for Buying Meat
London-based NatWest Bank launched a carbon footprint tracker to supposedly tackle the alleged climate crisis.
Source | Submitted by Shplad
UN’s “Summit of the Future”: A Step Towards One World Government?
Through the Pact for the Future, Our Common Agenda and Emergency Platform, the UN is establishing a One World Government through the monopoly of national sovereignty.
Source | Submitted by Clement
China’s Bold Economic Moves: Rate Cuts and Stock Buying Approval Spark Market Frenzy
China cutting rates and approving borrowing to buy stocks. That’s the government approving buying stocks. That’s just crazy to me. That’s like the ultimate stimulus.
Source | Submitted by Disruptor13
Did a Pentagon Mutiny Thwart a US-UK Plan to Escalate the War in Ukraine?
The awkward meeting didn’t produce the ceremonial signing or the joint press conference.
Source | Submitted by Blaggers
Japan Fires Warning Shots at Russian Planes Amid Rising Global Tensions
Chief Cabinet Secretary Hayashi held an emergency press conference reporting a confrontation between Russian planes that violated Japanese airspace north of Rebun Island in Hokkaido several times.
Source | Submitted by 2retired
Gold and Silver Set to Surge: Analysts Predict Dramatic Gains Amid Market Shifts
I expect the medals to be in a more vertical tone, especially evident over the next month.
Source | Submitted by rhollenb
by resiliencerob 
