David Fischer of Landmark Capital visits with Kevin McCullough to discuss this week’s economic news. The economy is up 3% for the 2nd quarter in a row. Pending home sales are down, however, to the lowest since 2015.
Consumer Spending is Up While Pending Home Sales are Down
Listen to “The Kevin McCullough Show – Pending Home Sales Plunged to Lowest Since 2015” on Spreaker.
Show Notes:
David appears @ 38:30
– 2nd quarter in a row with 3% growth. Consumer spending is up.
– Pending home sales are slowing down.
– Headwinds against Trump’s tax cuts in the next week
Government’s going to spend more 2018 $487 bil and quadruple by 2027.
– Thursday we will see Trump’s new Federal Reserve chairman (80% chance)
– Gold jumped – because he will continue raise interest rates –
and reduce the balance rate of central banks
– China – Petro Yuan.
– Petro Dollar – exchange oil to gold
– China is now doing oil and gold trading
– China will make payment in oil (Buys 1 million barrels a day from Russia)
– Big shift away from the Dollar and towards the Yuan
– “Chinese are playing chess, rest are playing checkers”
