Holiday Sales May Be Missing In Action

By Dave Kranzler – Re-Blogged From Silver Phoenix

I’m sure most of you are inundated with “Black November,” “70% off” and “clearance” email promotions from the usual cast of brick/mortar/online chain retailers. It started with my inbox in October.   This is because retailers are terrified of what could be one of the worst holiday spending seasons in years.

The mainstream financial media, planted with sound-bytes from Wall Street snake-oil salesmen, have already created this year’s “the dog ate my homework” excuse for poor holiday spending with the absurd notion that the period between Thanksgiving and Christmas is shorter this year.  Quite frankly, I would not be surprise if many households used Amazon’s Prime day and easy Amazon credit lines offered to buy holiday gifts early this year.

Speaking of AMZN, it warned that its expected holiday sales would be lower than previous guidance.  And Home Depot lowered its Q4 revenue estimates for the second time in three months.

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CalEPA Studying Ways to Sunset the California Economy

By Ronald Stein – Re-Blogged From Fox and Hounds

Founder and Ambassador for Energy & Infrastructure of PTS Advance, headquartered in Irvine, California

Tuesday, November 12th, 2019

California is about to take one giant step toward following Germany’s failed climate goals which should be a wake-up all for governments everywhere. Yes, you guessed it, our legislatures have authorized CalEPA in the 2019 – 2020 California State budget and Assembly Bill AB 74 to conduct studies and identify strategies to manage the decline of in-state crude oil production and decrease demand and supply of fossil fuel.

Germany tried to step up as a leader on climate change, by phasing out nuclear, and pioneered a system of subsidies for industrial wind and solar that sparked a global boom in manufacturing those technologies. Today, Germany has the highest cost of electricity in the world.

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In Defence Of Free Markets

Why is it that no one defends free markets, and socialism, despite all the evidence of its failures, comes back again and again? Unsurprisingly, the answer lies in politics, which have always led to a boom-bust cycle of collective behaviour. Furthering our understanding of this phenomenon is timely because the old advanced economies, burdened by a combination of existing and future debt, appear to be on the verge of an unhappily coordinated bust. But that does not automatically return us to the free markets some of us long for.

Cycles of collective behaviour

Throughout history there have been few long-lasting periods of truly free markets. Contemporary exceptions are confined to some small island states, forced to be entrepreneurial by their size and position vis-à-vis the larger nations with which they trade. The governments of these islands know that the state itself is not suited to entrepreneurship. Only by the state guarding the freedom of island markets and the sanctity of property rights can entrepreneurs serve the people in these communities and create wealth for all.

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A Wave Of Retail Stores Close

By Mac Slavo – Re-Blogged From Freedom Outpost

Another economic red flag has appeared and its the closure of retail stores.  According to a new report detailing the precarious situation of the current economy, there is “no light at the end of the tunnel” as the closure of brick and mortar stores will continue.

Coresight Research released an outlook of 2019 store closures Wednesday, saying, there’s “no light at the end of the tunnel,” according to several reports, including one from Yahoo News.  According to the global market research firm’s report, a mere six weeks into 2019, United States retailers have announced 2,187 closings of physical stores.  That’s up 23 percent compared to last year. Those closings include 749 Gymboree stores251 Shopko store,  and 94 Charlotte Russe locations.

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Home Sellers Are Slashing Prices At The Highest Rate In At Least Eight Years

By Michael Snyder – Re-Blogged From Freedom Outpost

The housing market indicated that a crisis was coming in 2008.  Is the same thing happening once again in 2018?  For several years, the housing market has been one of the bright spots for the U.S. economy.  Home prices, especially in the hottest markets on the east and west coasts, had been soaring.  But now that has completely changed, and home sellers are cutting prices at a pace that we have not seen since the last recession.  In case you are wondering, this is definitely a major red flag for the economy.  According to CNBC, home sellers are “slashing prices at the highest rate in at least eight years”…

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Jobless Claims Fall to Near 49-Year Low

By Thomson Reuters – Re-Blogged From Newsmax

The number of Americans filing new claims for unemployment aid fell to near a 49-year low last week and private payrolls rose steadily in August, pointing to sustained labor market strength that should continue to underpin economic growth.

The economy so far appears to be weathering an escalating trade war between the United States and China as well as tensions with other trade partners, including Canada, the European Union and Mexico, which have rattled financial markets.

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Poll: Most Democrats Prefer Socialism to Capitalism

By Kaylee McGhee – Re-Blogged From Liberty Headlines

According to a poll released by Gallup on Monday, 57 percent of Democrats favor socialism while only 47 percent have a positive outlook on capitalism.

It marks the first time in Gallup’s measurement since 2010 that a clear majority on the left (outside the margin of error) has shown a socialist inclination.

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