On Wire

Breaking news, updates, and reports on current events.

Remember Strikes?

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BY JOHN RUBINO  Years (and years) ago, I was an unskilled 17- year-old who needed a job. So I drove out to a “foundry” (a factory that makes things out of molten metal) on the edge of town and asked if they needed any more workers. They said yes, hired me on the spot, and enrolled … Read more

Wolf isn’t so impressed by TSLA rental sales

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by davefairtex Wolf used to be in the car biz.  This is his wheelhouse. Fleet sales are generally not a positive sign.  If retail demand were there, why on earth would you sell 100k cars at a big discount (dropping your margins accordingly) vs selling them to the public at full price? https://wolfstreet.com/2021/10/25/tesla-rental-deal-is-propaganda-coup-for-hertzs-selling-shareholders-tesla-but-sales-to-rental-fleets-are-low-quality-sales-automakers-dont-tout/ Selling vehicles … Read more

Small Decline In BIS Gold Swaps

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By Robert Lambourne via GATA The recently released September statement of account of the Bank for International Settlements – https://www.bis.org/banking/balsheet/statofacc210930.pdf — contains information suggesting a decrease of about 26 tonnes in the bank’s gold swaps during August, from 464 tonnes to 438 tonnes. This compares to the record high estimated at 552 tonnes as of February this year. … Read more

Feckless Joe Biden Finally Admits It!

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President Joe Biden jokingly told a group of elementary school students on Monday that one of his jobs as president is to “avoid” answering reporters’ questions. Biden jokes with a student at East End Elementary in NJ that he has to figure out how to avoid answering questions when he’s president. Biden jokes with a … Read more

Danielle DiMartino Booth on global economics, U.S. housing, changes at the Fed, and how it will affect investors

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Oxbow Advisors, Released on 10/25/21 “Right now, in America, politics is economics.” Ted Oakley, the founder of Oxbow Advisors and co-founder of its predecessor firm, HPO Advisors, has over thirty-five years of experience in the investment industry. The “Oxbow Principles” and the firm’s proprietary investment strategies were developed as a result of the unique perspective Ted gained … Read more

China Pushes The Founder Of Evergrande To Repay Debts Of $300B Using Personal Fortune. Global Financial Crash Warning Issued

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*CHINA URGES EVERGRANDE FOUNDER TO PAY DEBT WITH PERSONAL WEALTH All $300BN of it? — zerohedge (@zerohedge) October 26, 2021 Global financial crash warning: China fears debt default after poor firm management With China’s Evergrande company facing economic turmoil, Beijing has now admitted some firms have been poorly managed. Despite attempting to allay fears over the financial state of the … Read more

Elon Musk personally is worth more than Exxon Mobil, even though Tesla (worth 800 billion) has never turned a profit.

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New York (CNN Business)Elon Musk is rapidly approaching a net worth of $300 billion, as Tesla’s market cap soars past $1 trillion. That’s enough to surpass one of his biggest rivals: ExxonMobil. As of Monday’s close, Musk’s net worth was $289 billion, according to the Bloomberg Billionaires Index, which surpasses the $272 billion market value … Read more

Under Bidens watch Thanksgiving to be most expensive in the holidays history.

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There is no single culprit. The nation’s food supply has been battered by a knotted supply chain, high transportation expenses, labor shortages, trade policies and bad weather. Inflation is at play, too. In September, the Consumer Price Index for food was up 4.6% from a year ago. Prices for meat, poultry, fish and eggs jumped drastically, … Read more