Authored by Mike Shedlock via MishTalk.com,
A Chinese T-shirt company is setting up shop in Arkansas, lured by U.S. sewbots and lower production costs. It will cost about 33 cents to produce a shirt.
Please consider China Snaps Up America’s Cheap Robot Labor.
“Made in America” will soon grace the labels of T-shirts produced by a Chinese company in Little Rock.
The smell of currency war is rising in the air.
Less than six hours after the ECB lobbed the first trial balloon of the day, when Reuters reported that ECB policymakers were "growing worried" about the recent rapid gains in the Euro, sending the EURUSD sharply, if briefly lower, the entire move is now a distant memory following jawboning from US Treasury Secretary Steven Mnuchin, who moments ago said on CNBC that "having a weaker dollar is somewhat better for trade", a statement which immediately spooked algos into dumping the USD...
Following a plunge in existing home sales and new home sales, pending home sales slumped in July, dropping 0.8% MoM (missing expectations of a 0.3% rise). This completes the triple whammy of misses and drops for July's housing data...
The US Dollar collapse has already triggered a major move in inflation plays.
To whit, Gold has broken its SEVEN-YEAR downtrend.
As the US Dollar continues to drop hard over the next 12 months, Gold and other inflation plays will be exploding higher.
Below is a chart of an inverted US Dollar (blue line) and Gold prices (black line). As you can see, Gold is now leading. And as the US Dollar drops, Gold will be roaring even higher.
Smart investors will use this trend to make literal fortunes.
Remember the outrage one year ago when it was revealed that in its push to pad its top, and bottom line, Warren Buffett's favorite bank had engaged in outright criminal account churning and "cross selling", opening some 2.1 million unauthorized client accounts without permission (subsequently this extended to unsolicited car insurance policies extended on Wells auto loans). Well it turns out there was not nearly outrage, because as the bank revealed this morning, the "real" number was higher. 67% higher.