In The News Today

Posted at 7:08 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

In years gone by it was the consumer that bailed out the economy.  Now, who will bail out the consumer?

US Retail Sales Unexpectedly Tumble In May

Amid record low consumer sentiment, crashing asset markets, and tumbling savings rates, it is no surprise that May retail sales were a disappointment but the 0.3% plunge was remarkable relative to a 0.1% expected rise and downwardly revised 0.7% MoM rise in April.

More…

Bill Holter’s Commentary

Safety in the storm?

Crypto-Carnage Hits Every Asset Class Tied to Crypto 

It wasn’t just cryptocurrencies that crashed yesterday, it was crypto exchanges, crypto mining stocks, publicly-traded companies holding large investments in crypto, and crypto ETFs.

By the time the closing bell rang yesterday, ProShares Bitcoin Strategy ETF had tanked by 20.22 percent on the day, bringing its year-to-date loss to 50.4 percent. Other crypto-related ETFs were similarly hammered. VanEck Bitcoin Strategy ETF gave up 19.86 percent, bringing its year-to-date loss to 53 percent.

More…