On Wire

Breaking news, updates, and reports on current events.

David Stockman: The Biggest Threat to Your Prosperity and What You Can Do

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Via International Man If you want to understand America’s dangerously deepening travails, you have to start at the Federal Reserve’s Eccles Building. After a 30-year rolling coup d’etat, its occupants have imposed a regime of destructive falsification on America’s financial, economic, political, and social life. It has become the heart of mushrooming darkness taking prosperity, … Read more

Melt-Up In…Everything! If you’re looking for a fundamentals-based rationale behind the melt-up — don’t. There isn’t one.

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by Adam Taggart Well, folks: we’re officially in a price melt-up in nearly all asset classes. Stocks (especially Big Tech), bonds, gold, silver, bitcoin — all are racing higher. And that’s happening on top of an already massive run-up from the March lows. If you’re looking for a fundamentals-based rationale behind the melt-up — don’t. … Read more

Bill introduced in Senate to seize the assets of rich people, calls it a one-time only emergency tax so it’s okay

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Sens. Bernie Sanders, I-Vt., Ed Markey, D-Mass., and Kirsten Gillibrand, D-N.Y., on Thursday introduced the “Make Billionaires Pay Act,” which would tax tech’s top leaders tens of billions of dollars in wealth made during the pandemic. The “Make Billionaires Pay Act” would impose a one-time 60% tax on wealth gains made by billionaires between March … Read more

Warren Buffett’s best-performing stock over the past 3 months isn’t Apple or Amazon. It’s a luxury furniture company.

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https://www.businessinsider.com/warren-buffett-best-performing-stock-rh-not-apple-amazon-2020-8 Warren Buffett’s best-performing stock over the past three months isn’t Apple or Amazon. The billionaire investor and Berkshire Hathaway CEO’s biggest gainer is Restoration Hardware, a luxury-furniture seller whose shares have more than doubled in value since the start of May. Buffett’s second-best performer over the period is StoneCo, which has soared more than … Read more

Jim Rickards discusses the very real possibility of Lebanon’s imminent collapse

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FDD, Released on 8/6/20 Jim’s new book: The New Great Depression: Winners and Losers in a Post-Pandemic World *The interview begins around 5:00 Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence … Read more

Minneapolis in BIG TROUBLE! Businesses leaving! “Hundreds of Millions Lost”

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Steve Cramer, president and CEO of the Minneapolis Downtown Council, told 5 EYEWITNESS NEWS concerns over public safety and the future of the city’s police department have some companies looking to leave downtown. “Almost overnight the brakes went on in downtown,” Cramer said. “The point where it all started to change was the day the City … Read more

Pelosi flips out at Judy Woodruff

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https://twitter.com/EddieZipperer/status/1291348883432407040 House Speaker Nancy Pelosi, D-Calif., had a bitter exchange with “PBS NewsHour” anchor Judy Woodruff Tuesday over the ongoing stalemate on Capitol Hill between lawmakers negotiating a so-called “Phase 4” coronavirus aid bill. At one point in their interview, Woodruff asked Pelosi about the “flexibility” GOP lawmakers are showing in terms of allocating more money for state and … Read more

A Mysterious Outbreak Of Flesh-Eating Bacteria Buruli Ulcer In Australia

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What is Buruli Ulcer? The little-known illness is caused by a pathogen known as a mycobacterium (Mycobacterium ulcerans). It’s named for Buruli county in Uganda, which is where scientists first identified the collection of symptoms as a specific condition. Once the bacterium enters the skin, it releases a unique toxin known as mycolactone and begins … Read more

Anti-government protests simmering in Beirut after port blast

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Anti-government protests simmering in Beirut after port blast https://t.co/ZXSqRiS19F pic.twitter.com/j1ejTJhApq — New York Post (@nypost) August 7, 2020 Anti-government protests are boiling in Beirut over the deadly port blast that killed more than 100 people and decimated the city center. Authorities deployed tear gas on dozens of demonstrators near the nation’s parliament Thursday night as … Read more

How Do You Know The Urban Insurrection Has Failed? Because The NYT, After Flying Cover For Months, Is Throwing Democratic Mayors Under The Bus:

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Abolish the Police? Those Who Survived the Chaos in Seattle Aren’t So Sure. What is it like when a city abandons a neighborhood and the police vanish? Business owners describe a harrowing experience of calling for help and being left all alone. What follows is excellent reporting, a sign that the NYT can still do … Read more

Fed Chair Powell Had 4 Private Phone Calls with BlackRock’s CEO Since March as BlackRock Manages Upwards of $25 Million of Powell’s Personal Money and Lands 3 No-Bid Deals with the Fed

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via wallstreetonparade: Earlier this year, Wall Street On Parade reported that the Chairman of the Federal Reserve, Jerome Powell, had an upward range of $11.6 million invested with the investment management firm, BlackRock, and its iShares Exchange Traded Funds, according to Powell’s 2019 financial disclosure form. Powell’s 2020 financial disclosure form is now available. It was signed … Read more

STIMULUS DEAL TALKS HAVE BROKEN DOWN, TRUMP PREPARING EXECUTIVE ORDERS AS EARLY AS TONIGHT – FOX BUSINESS

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STIMULUS DEAL TALKS HAVE BROKEN DOWN, TRUMP PREPARING EXECUTIVE ORDERS AS EARLY AS TONIGHT – FOX BUSINESS — Breaking Market News (@breakingmkts) August 7, 2020 https://twitter.com/Fxhedgers/status/1291814558789582848 *MNUCHIN SAYS HE'LL SUGGEST TRUMP TAKE EXECUTIVE ACTION ON AID — zerohedge (@zerohedge) August 7, 2020 Larry Kudlow: Executive order to cut payroll tax ready for Trump! White House … Read more