Trump was adamant yesterday that his campaign did NOT provide the funds to pay off the porn star. He did. But he didn't know anything about it. Holy fuck.
"It was solely a Russian operation. I did not provide any assistance"
Remember back in '06-'07 when the Fed raised rates 17 times in a row until everything imploded? Good times. Well this time they're taking their time. Which means they're behind the yield curve on implosion. The "good news" is they're catching up...
According to the Fed's own minutes released yesterday, the housing market is already imploding due to higher interest rates (and other factors). So what they plan to do is raise rates 3 or 4 more times in order to confirm.
FOMC Meeting Minutes from August 1, 2018:
"In contrast to other sectors, residential construction activity appeared to have softened somewhat, possibly reflecting declining home affordability, higher mortgage rates, scarcity of available lots in certain cities, and delays in building approvals."
Today:
"WASHINGTON, (Reuters) - Sales of new U.S. single-family homes unexpectedly fell in July to a nine-month low in a sign the housing market was cooling and could give less support to the overall economy."
Also today:
Late last week of course we learned that consumer sentiment is the lowest since last September.
All of which can only mean one thing:
“Overall, the shape of the curve suggests to me we are ‘late’ in the economic cycle,” Kaplan said.
Speaking of holy fuck, the Fed IS the yield curve. They are pushing the front-end up, which is pushing long rates down.
"Hurry up, we're behind the curve"
