Not your average recession . . . .

[errolanderson]

Canada’s deepening recession . . . .

Bank of Canada will likely cut rates another 1/4% in July. Crude oil vulnerable (IMO). errolanderson.substack.com

[errolanderson]

U.S. MIDWEST HOT COILED STEEL
A key recession indicator . . . .

Central bankers likely do not follow steel prices as any indicator in their economic projections.

[shtferbrains]

The availability of coiled steel at these prices has always amazed me.
That is .3575 cents lb USD.

I recall buying semiload coil probably around 1990 for 26 cents Can.

At the time potatoes at the local store were 50 cents lb.

[errolanderson]

Hark! Finally, the smell-of-coffee . . .

Rumblings the Fed may panic and begin rate cuts in July. U.S. recession now hitting like-a-hammer. Asset devaluation in full-force.

Group, the stock market is at risk of sizeable correction soon. My opinion, not widely accepted by those in-the-know. errolanderson.substack.com

[Old Cowzilla]

The stock market has had a hell of a run but history shows election years are very positive. Wonder if it can make it to end of year before an adjustment.

[jazz]

Canada will be in nasty recession long before the US. US is printing like mad and that delays things quite a bit. Canada cant. TSX is toast.

But the S&P is going to run into the end of the year. 90% of S&P stocks have not participated in this rally. They soon will.

[errolanderson]

LUMBER HAS TIMBERRED! Deflation’s wrath . . .

[biglentil]

Well let's see China and Japan are the largest holders of US treasuries and a massive Japanese bank just announced it is dumping $63b in treasuries to stay afloat. China is dumping $50b a month for a while now. June 9th the Saudis formally ended the agreement to sell oil solely in USD a 50 year agreement and have also joined the Brics. Could be alot more $ coming home to roost. Oh and almost forgot the war drums for WW3 have never been louder. Far from deflationary, just the opposite.


Errol many of the metals like copper are near all time highs cherry picking Lumber does not give much solace to the middle class that is being wiped out due to rising costs of all types including rents, groceries and taxes.

Just like I said inflation wasn't going to be transitory.

[biglentil]

Confirmed. Hard landing coming!

Bank of Canada governor Tiff Macklem said that the Canadian economy appears to be on track for a soft landing where inflation falls back to the bank’s target without a major spike in unemployment.

Within hours of the nosedive, expect bail outs, bail ins, and heavy duty stimulus followed by massive stagflation.

[jazz]

Maybe errol has some insight, but rumors are floating that a couple canadian banks are in trouble holding a lot of insolvencies on their books. Govt bail out incoming.