Wall Street’s Biggest Permabull Slashes US Growth Outlook (Again), Says No Chance Of March Rate Hike

Everyone’s favorite perma bullish meteorologist, Deutsche Bank’s very own Joe LaVorgna, has gone full-Zero Hedge of late, dropping the weather excuses for a decidedly bearish take on the state of the US economy.

Indeed it was just last month when LaVorgna cut his Q4 GDP estimate by “one full percentage point” citing “softer than expected data.”

Well don’t look now, but LaVorgna is back with yet another dire warning about the US “recovery,” this time slashing 2016 estimates due to a laundry list of factors including, but certainly not limited to, tighter financial conditions (apparently hiking into a decelerating economy wasn’t a good idea after all) and weak global growth.

Below, find more from LaVorgna.

http://www.zerohedge.com/news/2016-02-08/wall-streets-biggest-permabull-slashes-us-growth-outlook-again-says-no-chance-march-

Low-income, black women largely ignored in Katrina recovery

 Ten years after Hurricane Katrina displaced 40,000 people in New Orleans, opinions about the recovery can be traced along racial lines. A pair of new studies underscores that African American women, particularly those who lived in public housing, faced some of the biggest hurdles after the storm.

http://grist.org/cities/low-income-black-women-largely-ignored-in-katrina-recovery/

HUD Secretary Castro, Gov. Bryant talk Katrina recovery in Gulfport

Aid from the U.S. Department of Housing and Urban Development was integral to the Coast’s housing and economic recovery after Hurricane Katrina, Gov. Phil Bryant told HUD Secretary Julian Castro during Castro’s first trip to Mississippi on Thursday.

HUD also changed after Katrina, Castro said, becoming better at teaming with states for disaster relief.

Castro, who was in Gulfport to commemorate Katrina’s 10th anniversary, toured the Coast on Thursday, accompanied by Bryant, several members of Mississippi’s congressional delegation and Gulfport Mayor Billy Hewes.

http://yallpolitics.com/index.php/yp/post/42029/

Post-Katrina, blacks are left out of recovery programs

http://thegrio.com/2015/08/28/post-katrina-blacks-are-left-out-of-recovery-programs/

STOCKS LEAP ABOUT 4% IN RECOVERY, BEST DAY SINCE 2011

In addition to an oversold bounce, some analysts also attributed the gains to comments from the Fed’s William Dudley that a September rate hike looks “less compelling” and a strong durable-goods report.

The major averages closed about 4 percent higher for their best day since 2011, with the S&P 500 rising out of correction territory. The index fell into correction during Monday’s selloff.

Among the 10 S&P 500 sectors, tech, financials, health care, consumer discretionary and staples are all out of correction territory. The companies in the index gained about $640 billion in market capitalization on Wednesday, but have still lost $268 billion in capitalization this week and are down $1.3 trillion over the last week-and-a-half.

http://www.infowars.com/stocks-leap-about-4-in-recovery-best-day-since-2011/

The Oligarch Recovery – Renting in America is Most Expensive Ever

Characterizing the upward transfer of virtually all American wealth to a handful of oligarchs a “recovery,” represents a grotesque insult to the english language as well as common sense.

http://libertyblitzkrieg.com/2015/08/13/the-oligarch-recovery-renting-in-america-is-most-expensive-ever/

THE OLIGARCH RECOVERY – RENTING IN AMERICA IS MOST EXPENSIVE EVER

Bailed out Wall Street banks went ahead and paid themselves record bonuses less than one year after the bailouts. Then, in early 2013, the financial community’s next scheme to feed off the carcasses of the American public became crystal clear. They wanted to become America’s slumlord by buying millions of foreclosed homes and then renting them back to former homeowners. When I realized what was happening I published the post, America Meet Your New Slumlord: Wall Street. Here’s the opening paragraph:

http://www.infowars.com/the-oligarch-recovery-renting-in-america-is-most-expensive-ever/