Submitted by Jeff Paul
The US government likes to pretend that the rising cost of living is under control. People in Southern California know better. According to a new report in the Los Angeles Times, median house prices in Southern California have doubled in the last five years.
LA Times reports:
In many corners of Southern California, home prices have hit record highs. And they keep going up.
By Dana Lyons of J. Lyons Fund Management
Stocks have recently witnessed an unprecedented cluster of new highs occurring on negative volume.
In an unexpected announcement, earlier this week the U.K.'s top regulator, the Financial Conduct Authority which is tasked with overseeing Libor, announced that the world's most important, and manipulated, benchmark rate will be phased out by 2021, catching countless FX, credit, derivative, and other traders by surprise because while much attention had been given to possible LIBOR alternatives across the globe (in a time when the credibility of the Libor was non-existent) this was the first time an end date had been suggested for the global benchmark, which as we explained
Authored by Mike Shedlock via MishTalk.com,
If there is a run on the bank, any bank in the EU, you better be among the first to get your money out.
Although it’s your money, the EU wants to Freeze Accounts to Prevent Runs at Failing Banks.
European Union states are considering measures which would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs, an EU document reviewed by Reuters revealed.
Submitted by Wolf Richter of WolfStreet
Tired of feeding an opaque, slimy industry of bots and fake clicks