Rosenberg says one Fed hike isn't the mistake, five would be (Kitco News) – With the U.S. 10-year #Treasury# yield above 5% as markets prepare for higher interest rates, David Rosenberg @EconguyRosie, founder and president of Rosenberg Research, says the bigger risk is not Wednesday's expected #Fed# rate hike. It is the series of hikes markets have started pricing in beyond it. "I don't think one rate hike will be a policy mistake," he said. "But if they raise their dots and they ratify what the market's priced in, and then we're not talking about just one rate hike but four or five, I don't think the economy can withstand it."... Full story at Kitco

Matan Rosenberg from Dimona was just 17 years old and was already known as a gifted musician. Mata taught himself to play the piano and guitar and loved playing music for others. On October 7, 2023, Matan went to the Psyduck music festival with his uncles, Noi Maudi and Moti Elkabetz, and their cousin, Tomer Kitivitz. When Gaza invaded Israel and began a war the four tried to escape by car and return to their family in nearby Moshav Yated. At 7:12 AM, as they reached the Mivtahim Junction men from Gaza on motorcycles opened fire on their car, sh00ting at the engine and windshield. Noi, who was driving, was stπuck in the head. The car's engine was hit, leaving them stranded in the middle of the junction. Tomer shouted for everyone to duck. Then the men of Gaza approached the disabled vehicle and fired through its windows at close range, taking the life of 17-year-old Matan Matan alongside his two uncles. Their cousin Tomer was wounded by shrapnel but survived by ducking below the window.

BLACKROCK’S JEFF ROSENBERG SAID THE MASSIVE BEAT FOR US JOBS GROWTH IN AUGUST HIGHLIGHTS THE IMPORTANCE OF NEXT WEEK’S CONSUMER PRICE INDEX PRINT AS FEDERAL RESERVE POLICYMAKERS CONSIDER WHETHER TO RAISE INTEREST RATES.

BlackRock’s Jeff Rosenberg said the massive beat for US jobs growth in August highlights the importance of next week’s consumer price index print as Federal Reserve policymakers consider whether to raise interest rates.

🦔Economist David Rosenberg is warning that home prices are starting to crack. His flag is that the annual pace of home sales has dropped to about 4 million, below where it was in early 2008. Sales have been frozen for three years while the national median price kept rising to a record $434,000. But that national number hides a split. Some Sun Belt metros like Austin and parts of Florida are already down year over year, even as other regions still climb. My Take I'd pump the brakes on the 2008 comparison. That crash ran on subprime loans and no-money-down mortgages, with a glut of supply that climbed well into the double digits in months of inventory. Today lending is tight, homeowners hold record equity, and foreclosures run five to seven times lower than back then. Supply is only about 4.6 months. This is a frozen market, not a house of cards. Nobody can afford to buy at these rates and prices, and sellers with cheap pandemic mortgages won't give them up. The result is a slow grind rather than a sudden collapse, and in the overbuilt Sun Belt it's already showing up as falling prices. The bigger worry is what falling home prices do to spending. Most people feel richer when their house is worth more, and they spend that way. When the number stops climbing, they pull back, and consumer spending is about 70% of the economy. Rosenberg himself says the main reason the US hasn't slipped into recession is the AI boom, all that data center building and hardware spending. So picture the two legs holding this economy up, a housing market losing steam and an AI buildout running on debt. Neither looks as sturdy as the record prices and the record stock market make them seem. Hedgie🤗

INFLATION TAKES CENTER STAGE AFTER STRONG JOBS REPORT BlackRock’s Jeff Rosenberg says strong August jobs data shifts attention to next week’s CPI report and the Fed’s September rate decision. Payrolls rose 162,000, beating forecasts and pushing Treasury yields higher. Rosenberg expects the Fed to hold rates if inflation keeps easing. The bigger risk is rising energy costs feeding into core inflation. Even a 25-basis-point hike is unlikely to significantly shake stocks or credit markets.

Scott Galloway calls Elon Musk a “traitor to the West” and invokes the Rosenbergs, who were EXECUTED after WWII. GALLOWAY: “We took the Rosenbergs and put them up against a wall and executed them for being traitors.” “And I realize this is an incendiary statement, but I’ll make it and I believe it. I think Elon Musk is a traitor to the West.” “If this had happened in any other age where we were not obsessed with innovators and money, a much different reaction would be playing out to Elon Musk.” These people are absolutely unhinged. CONTEXT: Scott Galloway is not some random but a bestselling author with a top podcast who regularly appears on cable news. His net worth is over $100 million, and he’s openly suggesting Musk deserves death. This is what the Democratic Party has become, and people voted for it.