New article posted below titled “CHINA LOOKING TO REFORM AFTER GROWING TIT 4 TAT WITH U.S.”
1) Real wages remained stagnant, with household incomes $4,000 less than 16 years ago. This despite an expanding economy, with record stock prices, soaring corporate profits and a giant stimulus tax cuts.
2) The new tax cuts were suppose to depress housing prices to further stimulate the economy. However, after nine months, the downward shift of prices has not materialized. While the housing market is showing signs of weakness, in particular in new construction, prices continue to climb.
3) Many experts continue to warn of a coming recession. They base their premise on the unemployment reaching a cusp limit, the yield curve flattening, increasing inflation rate, decline in home sales, a rise in credit card debt and late payments, and finally the economic cycle suggests a contraction.
4) 31 AUG 18 Stock price closings:
Dow 25,964.82 down 22.10
Nasdaq 8,109.54 up 21.17
S&P 500 2,901.52 up 0.39
10 Year Yield: down at 2.85%
Oil: down at $69.88