Asia Shares Decline Following Hawkish Fed Comments
Asian equity markets declined on Friday following hawkish comments from a Federal Reserve official.
Speaking in a televised interview in the U.S. overnight, St. Louis Fed President James Bullard suggested interest rates could rise sooner rather than later, leading Wall Street shares to end in the red overnight.
"Given Janet Yellen's last comments highlighted 'noise' in the inflation reading, these comments [from Bullard] have some significance. In fact, most of the Fed comments this week have been quite hawkish and perhaps this resulted in the subdued performance in equities," said Stan Shamu, market strategist at IG in a note.
Also weighing on sentiment was data showing that U.S. consumer spending rose less than expected in May, which led many economists to pare back growth forecasts for the second quarter.
RadioShack has officially dropped below $1 a share for the first time
in its company history. The troubled electronics store closed out stock
shares at $0.92 before the weekend.
"RadioShack’s stock peaked at more than $75 in the late 1990s. Some
of the most dramatic losses have come in recent years," reports Time. "The company lost $400 million in 2013, and, earlier this year, it announced the closing of up to 1,100 stores."
The maker of wearable sports cameras, loved by mountain climbers, divers, surfers and other extreme sports fans, said late Wednesday it sold 17.8 million shares at $24 each in its initial public offering of stock.
The IPO was priced at the high end of GoPro’s expected range and raised $427 million, valuing the whole company at about $3 billion. The proceeds from the IPO could rise to $491 million if underwriters use their option to buy more shares.
The stock will begin trading on the Nasdaq stock market Thursday under ticker symbol “GPRO.”
(Reuters) - The S&P was coming off its longest streak of advances since mid-April, and both it and the Dow had closed at records on Friday. While Wall Street's uptrend is still viewed as intact, investors are looking for catalysts to deliver more robust gains, and recent economic data has been mixed.
U.S. stocks ended a quiet session on Monday essentially unchanged as investors found few reasons to keep buying following a six-day rally in the S&P 500, though merger activity lifted energy shares.
"Right now we're digesting last week's gains and keeping an eye on all the economic data that's coming out this week," said Leo Grohowski, who oversees more than $184 billion in client assets as chief investment officer at BNY Mellon Wealth Management in New York.
It appears I have been had. The pic below is from 2007 at an anti-war "peace" rally in Seattle, not New York. I will always try to do due diligence on my sources. I was moved by this picture so much [ that means I found it revolting ] that I didn't question its veracity. C'est la vie.
Somehow i think they lost sight of what they were there for? they went from libertarian views, releasing the government from corporate hold to .... MANIA ...
Now take a step back and realize that the police have been beating them senseless, pepper spraying them, arresting them, news lying about them. It is a miserable time.
It doesn't necessarily mean you turn into some weird freak, but it does explain how awful a time they are having there.
In principle, they are trying to get a Libertarian message across, they are just unaccustomed to going about it.
I'm shocked anyone protests at all in America. Hell went gas went from 99c to $3 no one even batted an eyelash. That alone sent millions from middle class crashing into poverty. And, now we protest?
We should have been protesting about 8 years ago. It's not too late, we just need to get accustomed to protesting.
With that said, we need to fire nearly all cops that are hired today, and require they hire actual professional police that can tell the difference between a mugger and a citizen exercising their right to protest a business / government to achieve some goal in mind.
At no point does having a badge give you any authority to put your hands on someone protesting. That was the entire point of our constitution, because the "police" of their day, simply came into your house, grabbed you by the scruff of your neck and threw you in jail for any damn reason they or the monarch felt like. And, more likely it was always to somehow get what little money you had, out of you.
Of course pooping on a flag while exercising an American freedom, seems kind of ironic and idiotic, but one person does not a protest make. I guarantee all those standing around are mewling sheep and have no clue what is going on.
Normal people do not sit around thinking about lofty ideas of freedom and constitutional rights and the monarchy. Normal people do not pontificate about fascist state of our police force. Normal people do not think, period. Someone says to a normal person "a WHOLE LOT of people are going to new york to protest the bankers for ruining the economy, come with EVERYONE" and normal people will THEN go. Normal people do not have political blogs that are completely devoid of a political mainstream agenda i.e. democrat / republican, that can clearly see that they are keeping out the real voice of Americans.
Normal people might be at a protest for bringing attention to the total capture of state and local government for financial gain, and not even know what capture means. Normal people might be at a protest about fiscal malfeasance, and see a guy poop on an American flag, and not understand what fiscal malfeasance is, nor why the guy is pooping on the flag, nor why the guy thinks he's doing something even remotely related to fiscal malfeasance.
That is just how dumb Americans are now. Blame your damn schools. This is what it has come to.
Read any newspaper, magazine or watch on TV and you will hear it over and over again, home prices are climbing. Now, pay attention here. This is exactly what they said all the way up to 2009. The crash had already started in 2008, but for some reason the media kept saying how prices were rising. In fact, they quickly kept saying that we were out of the "recession", although it was and still is a full fledged depression, already in 2009, although it had not even begun to get to the ugly part.
How the Government Sees Your Home
The truth of the matter is real estate is a gamble just like everything else in the world, that involves money. Also, the real estate market has had major crashes every 10-15 years. It is covered up quickly to keep people in the dark and somehow not aware of the empty houses next to them. This depression was no different, only that it bled over onto wall street due to the high end banks twisting it up so much into their bottom line that they couldn't recover, that is without steal tax payer money.
The federal reserve bank has crashed the system over and over since 1913, and this time is no different. When several banks were about to go under, on the high end, they simply crashed the system and forced the bank to steal tax payer money and blame it on home buyers. Yet, they told the media to keep spreading the lie that real estate only goes up.
The truth is, real estate is not an investment at all, i.e. generates money for you, unless you rent it out to someone. Owning real estate has never made money outside of rental revenue. Owning your own house does not make you money. People are amazed at how much money they get when they sell their house they have had for 30 years. They are completely ignorant of the fact that the dollar has fallen 5000% over the past 30 years. So if the dollar fell 5000% over 30 years, they are actually coming out behind. They marvel that they can get half a million for their house, but forget that butter is 50 times what it was just 15 years ago. They ignore that gas has increased every 3 months.
You are not and will not make money on your house. The only way to make money on a house, is if you touch it for 1 week and sell it at a hefty profit after that week. But then, that's not an asset anyway. Everyone wants you to think that your home is an asset. An asset generates money. Unless you are renting out your house to other people who pay you monthly, your house is not an asset. Paying your mortgage and upkeep does not make your house an asset, it makes it an expense, just like your car or your kid.
How People See Their Home
You literally have to have rental property to consider real estate an asset. People do not understand nor consider that the government allows you to take a deduction on your home every year, from your taxes. The government understands that your home is going down in value, not up. However, this hasn't been shown to the public and they do not understand it. That is because the media insists on posting fake reports showing how home prices are going up and new home sales are going up.
The real sinister plot is, in those averages are included such bizarre things as million dollar purchases, which can so skew an average as to throw it off for years. Imagine if trump came to your city and bought 3 commercial buildings and 3 home which he converted to commercial property. The local news would report that as average home prices going up and commercial real estate purchases going up. There maybe thousands of real estate deals changing hands back and forth and foreclosures everywhere, but those 6 deals wiped them all out and skewed the numbers. Would the newspaper point that out? No. Because the local realtors and insurance companies want people to buy buy buy. The banks want you to take out a loan for your home.
Do you know that 40% of all homes are still paid for with cash? In fact that number is inching up to 50%. This means the banks are being ignored nearly 50% of the time when the largest purchase, most people will ever see in their life, is made. Do banks influence the news? Of course it does. Is it cheaper to build a house today, than it was 30 year ago? Of course it is. A brand new home built today, costs 30% less today than it did 30 years ago. Why aren't you seeing home prices dropping on new homes? Because it is the best scam going.
