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The oil market is quickly realizing that many OPEC producers may not have the capacity to boost output much further. OPEC+ has been undershooting its collective production targets for months and will likely continue to do so in the months ahead. Low spare production capacity could leave the world without a buffer to offset sudden supply disruptions, which are always lurking in the global oil market. ... Most of the world’s global spare capacity is currently held by OPEC’s Middle Eastern members Saudi Arabia and the United Arab Emirates (UAE) . .. Low spare production capacity could set the stage...

Stocks are off to a tough start this year. The tech-heavy Nasdaq is already in a correction, a more than 10% drop. Jeremy Grantham, co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO) said in a report called "Let the Wild Rumpus Begin" that stocks are now in the midst of a "superbubble," that it won't end well. He noted that US stocks have experienced two such "superbubbles" before: 1929, a market fall that led to the Great Depression, and again in 2000, when the dot-com bubble burst. He also said the US housing market was a...

Senator Ed Markey (D-MA) said Tuesday on MSNBC’s “Hallie Jackson Reports” that it was the Republican Party’s “business plan to suppress black and brown votes in order to gain an electoral advantage in 2022.” Markey said, “We celebrated Martin Luther King Day this week. And it is absolutely creating a moment in history where we have to stand up as Democrats and to fight for voting rights. Mitch McConnell said as recently as today. It’s a winning issue for the Republican Party if they suppress black and brown voters across this country. If those voters don’t get to the polls,...

Homes aren't as affordable or available for six-figure earners as they were two years ago, per NAR. Home prices are up, inventory is down, and the share of houses affordable on a $100,000 salary keeps shrinking. A $100,000 paycheck is now considered middle class in a housing crisis era. A six-figure salary is no longer enough to buy a home. Not really. Availability and affordability for households earning $100,000 has dropped since 2019, the National Association of Realtors (NAR) reported. Home prices shot up by 13% year-over-year in October while housing inventory fell by 12% in the same time frame....

CNBC anchor Jim Cramer on Friday reacted to the market sell-off over concerns of a new coronavirus variant. According to Cramer, Friday’s decline for stocks is not the right time to buy with the market uncertainty.

President Biden called on the Federal Trade Commission to investigate whether oil-and-gas companies are participating in illegal conduct aimed at keeping gasoline prices high. In a Wednesday letter to FTC Chair Lina Khan, Mr. Biden alleged that there is “mounting evidence of anti-consumer behavior by oil-and-gas companies.” He said gasoline prices are rising even as the price of unfinished gasoline goes down. “This unexplained large gap between the price of unfinished gasoline and the average price at the pump is well above the pre-pandemic average,” Mr. Biden wrote. “Meanwhile, the largest oil-and-gas companies in America are generating significant profits off...

Most investors expect stocks to slump as rates rise.This assumption makes sense… As I covered yesterday, higher rates mean stocks will face more competition from other assets, like bonds. That means less demand, and lower prices.But what if I told you this story doesn’t play out exactly like you’d expect?Stocks will crash as a result of rising rates… eventually. But the “eventually” is the important part.Today, I’ll show you how things have gone in the past, and what it means for the rate-hiking cycles we’re about to see play out.Folks think that the first hint of higher rates is a...

"To feel like you can't provide shelter for your kids is the biggest sense of parenting failure," says Brandi Dailey, of Loma Linda. Sadly, it's a common feeling for many families who struggle to keep a roof over their heads. It’s especially true for single moms. Dailey who founded the nonprofit, Thrive Single Moms, says housing costs in the Inland Empire have risen by 12% in one year alone. "Housing costs is the majority of your income coming in every single month and you're scraping by usually two or three jobs just to keep housing over your head," says Dailey....

Boomers and millennials are competing for houses, per a new Zillow report. Boomers are winning. Boomers have more cash to win bidding wars as they take advantage of an appreciating market. Buying a home has been hard enough for millennials, who are struggling with skyhigh prices and a lack of starter homes. Baby boomers and millennials are in a housing war. It's boomers who are winning, according to a Zillow report released this week. It found that so many boomers are active in the housing market that it's become more difficult for millennials to buy a home. As seen in...

We know you're all just poor corrupt officials, but bleating excuses won't save you from the karmic payoff. The Federal Reserve can be summed up in two famous lines from the classic film Casablanca in which the corrupt police official Renault is ordered to close Rick's cafe. Renault: I'm shocked! Shocked to find that gambling is going on in here. [The croupier hands Renault a wad of cash]: Your winnings, sir. The Fed is totally, completely, fatally corrupt. Only those being handed their ill-gotten gains defend the Fed. Everyone who is isn't totally, completely, fatally corrupt wants America's financial Politburo...

Crude Oil Extends Rally as WTI Tops $75 on Global Energy Crunch

@disclosetv JUST IN - Federal Reserve officials, including Chairman Powell, owned securities that the U.S. central bank has bought during the #COVID19 pandemic (CNBC).

Something strange is going on.On one hand stocks are trading at all-time highs, levitating every day without an apparent care in the world, with traders seemingly complacent that any air pocket in the market will simply mean more accommodation by the Fed which may not taper and which, according to some, may even to more QE. On the other, traditional bear-market signals such as the CNN fear and greed indicator, are deep in neutral territory, having dipped in "fear" territory as recently as one month ago...... while the SKEW index which many view as an indicator of crash preparation, is...

News Bites Why did gold price drop 2% today? More downside coming? Gareth Soloway on metals, stocks, Bitcoin David Lin David Lin Friday August 06, 2021 15:56 Kitco News Gold price saw its biggest single-day drop today since June on the back of a strong jobs report.

CNBC had the spin on the massive stock market selloff story so fast it was as if the outlet was just waiting to protect the Biden administration from any bad news. The Dow Jones Industrial Average fell a whopping 725.81 points July 19 as “anxiety mounted over the spread of the Delta coronavirus variant and its potential impact on the global economy,” The Wall Street Journal reported. It was the “worst session since October” for the index. But CNBC seemed to already know how it would spin the story at 10:42 a.m. when the market was in the heat of...

For two decades Chinese tech firms have flocked to the U.S. stock market, drawn by a friendly regulatory environment and a vast pool of capital eager to invest in one of the world’s fastest-growing economies. Now, the juggernaut behind hundreds of companies worth $2 trillion appears stopped in its tracks. Beijing’s July 10 announcement that almost all businesses trying to go public in another country will require approval from a newly empowered cybersecurity regulator amounts to a death knell for Chinese initial public offerings in the U.S... “It’s unlikely there will be any U.S.-listed Chinese companies in five to 10...

All while stocks are crashing. LOL Biden speaking about the economic recovery is like Algore giving a global warming during blizzards. LOL https://www.cnbc.com/

Last week, on the Communist Party’s 100th anniversary, Chinese state media Xinhua News posted a tweet featuring a quote from Chinese leader Xi Jinping’s, including his claim that China had eliminated poverty and “we are now marching in confident strides toward the second centenary goal of building China into a modern socialist country in all aspects.”Many international users responded with sarcasm, questioning the CCP’s human rights record. Yet Elon Musk, CEO of Tesla and SpaceX, responded with a tweet, showering the CCP with over-the-top praise: “The economic prosperity that China has achieved is truly amazing, especially in infrastructure! I encourage...

Is the party almost over? Volatility has returned to Wall Street in a major way, and certain investors are getting absolutely crushed. On Wednesday, a trillion dollars in paper wealth had been wiped out during the trading session at one point, but those losses were later pared back as cryptocurrencies rallied. On social media, there has been a lot of weeping and wailing due to the huge financial losses that some people have experienced this week. But if you think that these losses are bad, just wait until you see what is coming later. In the old days, investors would...

Stock market margin debt jumped by another $25 billion in April, to a historic high of $847 billion, according to FINRA data. It has exploded by $188 billion in six months, and by 61% year-over-year, and by 55% from February 2020: Excess leverage is the precise and predictable result of the policies the Fed is promoting out of one side of its mouth with its interest rate repression and asset purchases.Out of the other side of its mouth, the Fed – via its blissfully ignored Financial Stability Report – is warning about leverage, stock market leverage, and particularly the vast...