On Wire

by Dismal-Jellyfish Today the Fed released it’s audited financial statement for 2022: https://www.federalreserve.gov/newsevents/pressreleases/other20230324a.htm KPMG It’s worth noting that the Fed’s audit firm, KPMG, has been involved in numerous scandals, including the use of stolen regulatory information to cheat on audit inspections, and has also experienced major audit failures, such as that of UK outsourcing giant Carillion, … Read more

Netflix could get a whole new premium. Albany lawmakers in the Assembly have floated potentially hitting streaming services like Netflix, Hulu and HBO Max with the state’s sales tax as one way to fund the cash-strapped Metropolitan Transportation Authority. The plan would hit streamers with the 4% surcharge, potentially netting $100 million annually for the … Read more

Federal Reserve data showed that bank customers collectively pulled $98.4 billion from accounts for the week ended March 15, as Silicon Valley Bank and Signature Bank failed. Officials at the Financial Stability Oversight Council, meeting in a closed session Friday, insisted the system “remains sound and resilient.” https://www.cnbc.com/2023/03/24/100-billion-pulled-from-banks-but-system-called-sound-and-resilient.html   h/t  BoatSurfer600

by mark000 Stocks may crash 30% and the US economy could suffer a 2008-style collapse as the ‘everything bubble’ bursts, expert says https://markets.businessinsider.com/news/stocks/stock-market-outlook-everything-bubble-crash-recession-fed-rates-pomboy-2023-3 https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets https://www.nytimes.com/2023/03/24/business/treasury-market-swings-economic-signal.html ‘Bonkers’ Bond Trading May Be Sending a Grim Signal About the Economy Wild swings in the Treasury market are unlike anything many investors today had seen. They’re also potentially warning of … Read more

Precision Breeding Act! In Brave New World human beings are bred via Bokanovsky’s Process in the London Hatchery. We seem to be heading rapidly towards that. https://twitter.com/_/status/1639373341885620224   Tess

NEW: Biden says that the US does not seek conflict with Iran, but that it is prepared to respond 'forcefully' to protect its personnel following yesterday's airstrikes against IRGC-affiliated targets in Syria – AP — Faytuks News (@Faytuks) March 24, 2023 NEW: Biden says that the US does not seek conflict with Iran, but that … Read more

The US banking system is broken. That doesn’t portend more high-profile failures like Credit Suisse. The central banks will keep moribund institutions on life support. But the era of dollar-based reserves and floating exchange rates that began on August 15, 1971, when the US severed the link between the dollar and gold, is coming to … Read more

by VeryStableGenius I was reading this politifact post from December and I came across some striking graphs. Profit per unit of real gross value added has blown up since 2000, from 5% to 16% of every dollar of value added (which is output value minus input costs, if I’m reading this right). Corporate profits as a fraction of … Read more

Leftist troll can’t even admit that is inappropriate 🚨"Do you believe it is censorship to prohibit teachers from exposing first graders to Penthouse Magazine?" Woke apologists cannot even bring themselves to answer "Hell no!" Unequivocally, we all should be able to agree on this: NO PORN FOR SIX YEAR OLDS! No graphic sexual… pic.twitter.com/MLfdP8AVMP — … Read more

FBI Devoted at Least 16,000 More Hours to Jan. 6 Riot Than to BLM Riots in DC. FBI agents worked about 16,000 more hours during the pay period of the Capitol riot of Jan. 6, 2021, than they did during the pay period of the 2020 riots that hit Washington, D.C. That’s according to documents … Read more

via UPI: The reason why we love french fries, crisps and chocolate bars so much has less to do with a lack of willpower and more to do with the brain learning to prefer such high-fat, sugary foods, according to a new study by German and U.S. researchers. Results of the study, conducted by researchers … Read more

Authored by Allan Stein via The Epoch Times (emphasis ours), Coin Heaven co-owner Gabe Wright saw precious metals demand rise to new heights during the pandemic, but nothing as spectacular as Silicon Valley Bank’s (SVB) collapse. “It’s getting real,” Wright said, standing behind the glass showcase filled with various silver and gold bullion, coins, jewelry, and … Read more

Germany's manufacturing PMI (black) has fallen below any point in 2022. Germany avoided recession last year because of lucky one-offs in auto and chip-heavy manufacturing. Those one-offs were always temporary and aren't there to provide lift in 2023. German recession is coming… pic.twitter.com/AdJFaASVnw — Robin Brooks (@robin_j_brooks) March 24, 2023 Thanks to JAKE SULLIVANS brilliant … Read more

by laflammaster https://home.treasury.gov/news/press-releases/jy1367 All talk!! nothing in action!

by FootieBoisElite Huntington National Bank, puts all the way down the chain 30 DTE. Why? When comparing them to signature bank, they have had a similar influx in deposits since the pandemic and even greater losses on their AFS positions. Yes, there are plenty of other regional banks that could fit this bill and have … Read more

via medicalxpress: New federal studies co-authored by autism experts at Rutgers found that more children have been diagnosed with autism than at any time since monitoring began more than two decades ago. According to the U.S. Centers for Disease Control and Prevention (CDC), about 4% of 8-year-old boys and 1% of 8-year-old girls, have autism in … Read more

Jim Cramer: "Your money is safe at Deutsche Bank” pic.twitter.com/RNZNxeLOVp — Inverse Cramer (@CramerTracker) March 24, 2023 Jim Cramer: "Your money is safe at Deutsche Bank” Rest in peace DBpic.twitter.com/FKOoNmpNNA — Not Jerome Powell (@alifarhat79) March 24, 2023 "The German lender’s shares retreated for a third consecutive day and have now lost more than a … Read more

yield curve 2s30s is positive The market is fully pricing in rate cuts, Jay Pow is losing the control the money printer needs to go brrrr pic.twitter.com/YZIeKMYrnU — Alessio (@AlessioTMAD) March 24, 2023 BREAKING: Moody’s credit agency says there is a risk that US banking 'turmoil' cannot be contained — Win Smart, CFA (@WinfieldSmart) March … Read more