Business

While everyone continues to focus on Trump and his policies, a much larger issue looms.

That issue is the US debt ceiling.

The US Government hit its debt ceiling on March 16, 2017. The Government employed “extraordinary measures” to keep the Government open. At that time, Congress had a little over three weeks to deal with this issue.

Given how divided Congress has become, it’s no surprise this has gone nowhere. Congress left for its spring recess without fixing this.

via Marketslant

Word in the market is that Elemetal has a large amount of pooled metal for clients that simply does not exist. 

Elemetal’s letter to customers informing them they have been Corzined by Scotia Bank:h/t  SILVER DOCTORS 

Good Luck

More stories here

Authored by Teeka Tiwari via InternationalMan.com,

A “secret” currency market has been born. This radical new money is going to change how we buy groceries, pay our bills, and conduct business. It could even completely eliminate paper money.

 

And yet, most people have no clue this new currency even exists. Meanwhile, the “smart money” is pulling out of traditional investments and piling into this new space… hoping to cash in on “a new virtual gold rush.”

 

The reflation trade is officially over.

At the same time that retail sales posted the worst 2 month drop in 2 years, CPI - the bedrock behind the Fed's rate hiking intentions - just hit a brick wall, and after months of headline CPI growth mostly the back of the energy "base effect", in March this ended with a thud, when headline CPI printed at -0.3%, badly missing expectations of an unchanged print. The number was so bad, all 79 economist estimates missed the number (predicting a -0.2% low).

For the second month in a row, retail sales declined in March as 'hard' data fails to live up to 'soft' data's hype. This is the biggest 2-month tumble in retail sales in over 2 years.

The full breakdown shows the biggest declines in building materials and motor vehicles.

This drop in sales should not be total surprise as real average weekly earnings has now failed to rise for 3 straight months.