Hard hitting global and local news
Read More: Thin Crowds, Subdued Shopping on Black and Blue Friday; Thanksgiving Shopping a Bust
Taken from: Majority in UK Now Favor Brexit; Cameron’s Quandary
On the Verge of Consumer Exhaustion Fourth Quarter GDPNow Forecast Sinks to 1.8% Following today’s personal income report in which consumer spending rose only 0.1% month-over-month, the Atlanta Fed GDPNow Forecast for fourth quarter declined by 0.5 percent to 1.8 percent. " The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2015 is 1.8 percent on November 25, down from 2.3 percent on November 18. The forecast for the fourth-quarter rate of real consumer spending declined from 3.1 percent to 2.2 percent after this morning’s personal income and outlays release from the U.S.
Read the article: Flight Paths Over Turkey Analyzed; Obama Defends Turkey; Choose Your Friends and Enemies Wisely; Merkel Madness
Read More: Richmond Fed Region Negative Again; Inventories Suggest Outright Disaster on Horizon
Cash is King for Holiday Shopping; 63% of Millennials Have No Credit Cards; Millennial Attitudes and Deflationary Trends As we head into the black Friday holiday shopping season, cash is king .
Brussels Enters Lockdown, Warns of "Paris-Style" Attack, Airport and Sporting Events Closed Officials in Belgium have "precise information" that Brussels faces a "Paris-Style" Attack. In response Brussels Enters Lockdown . Brussels faces an imminent threat of a Paris-style Islamic State terrorist attack, authorities warned, as the city shut down its metro system and shopping malls, canceled sporting and cultural events and told people to avoid gathering in large groups.“ We have precise information that outlines the risk of an attack similar to the one that unfolded in Paris ,†Belgian Prime Minister Charles Michel told a press conference Saturday morning in Brussels.
For example, the New York Times reported in March Wells Fargo Puts a Ceiling on Subprime Auto Loans . Wells Fargo, one of the largest subprime car lenders, is pulling back from that roaring market, a move that is being felt throughout the broader auto industry.
Philly Fed Slightly Positive After Two Months of Contraction, but New Orders and Shipments Negative, Workweek Collapsed In what likely amounts to a bit of economic noise, the Philadelphia Fed regional manufacturing report posted a rise of 1.9, slightly beating the economic consensus of 0. Unlike Monday’s Empire State report which is pointing to out-and-out weakness for the November factory sector, the Philly Fed’s November report is no worse than flat and points to little month-to-month change for a sector, however, that continues to struggle.
The Financial Times asks Could Attacks Have Been Prevented? While not every terrorist plot can be thwarted, authorities misses a huge number of warning signs. Coupled with inane acceptance of Syrian refugees, the EU virtually invited terrorist activity