Latin America's new 'pink tide' gains pace as Colombia shifts left; Brazil up next - Reuters

Jun 24, 2022

The statue of Simon Bolivar, located in Plaza Bolivar, is seen covered by the Colombian flag the morning after the second round of the presidential election, in Bogota, Colombia June 20, 2022. REUTERS/Luisa Gonzalez Register now for FREE unlimited access to Reuters.com MEXICO CITY/BOGOTA/SAO PAULO, June 22 (Reuters) - Latin America's new "pink tide" is gaining pace after Colombia elected its first leftist leader Gustavo Petro, with Brazil expected to follow suit in elections in Octo ...read more

Stock Market Swoon Pulls Rug Out from under Luxury Home Sales

Jun 24, 2022

The June sell-off did a job on them. By Wolf Richter for WOLF STREET. Manhattan luxury real estate vs. stock market downward spiral in June: In the week through June 19, only 12 sales contracts were signed for condos, co-ops, and townhouses with asking prices of $4 million and above, the worst week since the week of December 28, 2020 (with 10 contracts), according to today’s weekly report by Olshan Realty. The number of contracts was about one-third of the average number of contracts s ...read more

Metals Stocks: Gold prices jump as dollar weakens, “risk off” mood dominates

Jun 24, 2022

Gold prices finished higher on Thursday for a second session in a row, as stocks sold off following a spate of tepid economic data out of the U.S. while the dollar slipped. The latest moves in precious metals came after the price of the yellow metal whipsawed following the Federal Reserve’s historic 75 basis point interest rate rise on Wednesday. The U.S. dollar, which has been cited as a catalyst for moves in metals markets this year, was lower, down 1.6% to 103.502, according to the ICE ...read more

UN rights chief warns of ‘unprecedented’ exodus from Nicaragua

Jun 24, 2022

Michelle Bachelet says ‘sociopolitical, economic and human rights crises’ are driving thousands out of the country. Published On 16 Jun 2022 16 Jun 2022 The United Nations human rights chief has warned that “sociopolitical, economic and human rights crises” in Nicaragua are forcing thousands to leave their homes, in a wave of migration that is growing in “unprecedented numbers”. At a Human Rights Council hearing on Thursday in Geneva, UN High Commissioner for Human Right ...read more

What You Can Learn From Billionaires Who Invest in Gold

Jun 24, 2022

If you want to be successful in investing and accumulate enough money to live comfortably in retirement, sometimes it’s a good idea to look at what successful investors have done. Learning about sound investments from others can help prevent you from making mistakes that you might otherwise make if you try to rely on your own abilities. Here are a few successful billionaire investors who swear by investing in gold. Ray Dalio Mr. Dalio is the founder of Bridgewater Associates, one of the ...read more

Expect a Deep Recession to Start This Quarter or Early Third Quarter

Jun 29, 2022

GDP estimates are plunging but are still too high. A recession is on the near horizon. GDPNow Data from the Atlanta Fed, Chart by Mish The GDPNow Forecast was at 2.5 percent on the May 17 retail sales report. It's now 1.3 percent and falling fast.  This snip is from June 1.  The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is 1.3 percent on June 1, down from 1.9 percent on May 27. After this morning's Man ...read more

Uyghurs Say the United Nations Is Failing Them

Jun 29, 2022

Mehray Mezensof’s life came crashing down in April, when a message from a contact in China’s far northwestern region of Xinjiang confirmed her worst nightmare. The 28-year-old had been waiting for news about her husband, Mirzat Taher, who was appealing against what she believed was his trumped-up terror conviction. Taher, 31, was hauled off by Chinese authorities in 2020, a fate that befell many Uyghurs—an ethnic group who are predominantly Muslims—in their neighborhood in Xinjiang ...read more

CFTC advocates for expansion of cryptocurrency market jurisdiction - Reuters

Jun 29, 2022

June 21, 2022 - More than a decade has passed since Bitcoin was created, yet lawmakers and regulators continue to wade through important questions, such as which regulator should be permitted to regulate digital assets. Despite a lack of digital asset legislation, federal regulators, including the Commodity Futures Trading Commission (CFTC), are adding resources to help police fraud in the digital asset markets in light of the rapidly increasing number of enforcement actions related to digital ...read more

THE WOLF STREET REPORT: What’s Behind the Collapse of so Many Stocks since Feb 2021?

Jun 28, 2022

Dbosaks says: It’s structured like this. The bank could care less if YOU default as they can get a much more stable and valuable asset: your banks house. Azani says: You’ve been bearish on the market as long I have been reading your site. Hopefully when thinks near a bottom, you’ll start to publish more optimistic stuff. I know the boomer coin (gold) crowd won’t like that, but some of us want to keep making money when the markets turn around and rip back up.. Depth Charge ...read more