Retail Sales Falling in the US – a Softer Tone
Retail sales in the US fell short of expectations this month, according to data compiled by the Commerce Department. Retail spending decreased 0.6% from April to March, undermining forecasts of [...]
Hong Kong Withdraws Controversial Bill
Hong Kong leader Carrie Lam said that she will withdraw a controversial extradition bill that has sparked months of mass protests. The Hang Seng index rallied around 4%. The bill has been withdrawn after it really became clear that Hong Kong could lose its financial position in Asia to Singapore had Chinese troops intervened.
I have been in Asia for this crisis. Clients on both sides of the controversy were deeply concerned that capital was beginning to flee due to concerns over a troop invasion that could have a tremendous impact on the future stability of Hong Kong in the world financial system.
The bill’s withdrawal has been a major positive event for Hong Kong and the rest of Asia. The protest escalation was clearly impacting capital flows and was a major potential threat to the global stability of the economy we have been warning about over here.
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The Dow Hits First Target 40,000 – What’s Next?
https://www.armstrongeconomics.com/wp-content/uploads/2020/06/1987-Larry.mp4 COMMENT: It is baffling why you are not on the front page of the WSJ, Barons, London FT, NY Times, and every financial newspaper claiming to be interested [...]
