On Wire

Breaking news, updates, and reports on current events.

Meet The Couple Who Scammed Warren Buffett Out Of Over $300 Million

by

via Zerohedge: DC Solar was once the “business” that allowed Jeff Carpoff, his friends and business associates to live the high life, according to Bloomberg. Unfortunately, as Warren Buffett found out the hard way, it was all one big “ponzi type scheme”. The company’s purported business of making mobile solar generators was so good that it even enticed Warren Buffett’s … Read more

Is the Tech Bubble Bursting?

by

by Charles Hugh-Smith There are two other trends that don’t attract quite the media attention that soaring profits do. Is the decade-long tech bubble finally popping? Tech bulls are overlooking the fundamental reality that the drivers of Big tech’s phenomenal growth–financialization and expansion into mobile telephony– are both losing momentum. A third dynamic–Big Tech monetizing privately … Read more

What Collapsing Orders for Heavy Trucks – Down 71% from a Year Ago – Say about the U-Turn in Trucking

by

Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter “When times are tough, the thinking switches to the short-term. Many fleets are just fighting for survival.” Orders for Class-8 trucks – the heavy trucks that haul a large part of the goods-based economy across the US – plunged by 71% in May compared to May last year, to — as FTR … Read more

A Timeline of U-Turns from the Chinese Market

by

by visualcapitalist China’s economic surge is one of the biggest stories of the 21st century. Hundreds of millions of people have been lifted out of poverty, and China’s swelling middle class has attracted the interest of Western companies. As many American companies have discovered, doing business in China is far from straightforward. Recent history is littered … Read more

Crucial US Service Sector Growth Sends Conflicting Signals

by

Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter The “yeah but” shows up again. The services sector, which accounts for about 70% of the US economy – the biggest segments being finance and insurance, healthcare, professional services such as architects, engineers, and lawyers, and information services such as telecom and data processing – has been growing at a fairly … Read more

Illinois Turns To Gambling And Weed Amid Hopeless Financial Picture

by

via Zerohedge: Democratic Illinois governor J.B. Pritzker thinks that the solution to fixing Chicago’s struggling, blood-soaked streets is legalizing marijuana state-wide and opening a giant casino in Chi-Town, according to Bloomberg. “We’re putting our fiscal house in order,” said Pritzker in a Tuesday interview. “Nothing’s going to be fixed overnight, but we’ve made significant progress. And honestly, I really believe that we … Read more

Another UK Outsourcing Giant Teeters, Collapsed Shares Add to Woes of Woodford Fund that Just Froze Withdrawals

by

Kier shares are one of the biggest holdings of Woodford Equity Income fund. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. UK construction and services giant Kier Group, with 20,000 employees, is on the ropes after issuing a profit warning, amid worries about its debt, that sent its shares spiraling down 40% on Monday … Read more

YOUTUBE PURGES ‘HATE’

by

Washington (AFP) – YouTube announced Wednesday it would ban videos promoting or glorifying racism and discrimination as well as those denying well-documented violent events, like the Holocaust or the Sandy Hook elementary school shooting. The announcement by the Google-owned video-sharing platform was the latest of a series of tech industry moves to filter out hateful … Read more

David Morgan: There’s no place else to go but gold and silver … Peter Schiff: Rate cuts will stimulate inflation not the economy …

by

BY JOHN RUBINO Dan Oliver: The next panic will take the dollar down and not up … Why Julian Assange is a hero, not a criminal … Marin Katusa: Governments fear deflation more than anything else … David Morgan: There’s no place else to go but gold and silver … Peter Schiff: Rate cuts will stimulate … Read more

Pelosi Tells Dem Leaders She Wants To See Trump ‘In Prison’

by

via Zerohedge: As we’ve previously explained, Nancy Pelosi has been desperately searching for an excuse to avoid starting impeachment proceedings against President Trump (that is, until Dems are certain they have the popular political support to justify trying to remove him from office). Earlier this week, the Speaker of the House added what we saw as a novel … Read more

Mass Censorship Hits Youtube In Wake Of The Vox Steven Crowder Battle

by

UPDATE: The Mass Censorship has dramatically escalated after the publishing of this video. Stay Tuned For An Update at Youtube.com/Timcastnews at 6pm Mass Censorship Hits Youtube In Wake Of The Vox Steven Crowder Battle. Following Youtube’s defense of Steven Crowder they announced a mass purge of content as well as the restriction of ‘borderline’ content … Read more

Gold Target $1,800 following an upside breakout!

by

by Kimble Charting Is Gold finally about to break out from a 5-year bullish ascending triangle pattern? We will find out very soon! The price action of Gold since 2014 looks to be a series of flat tops and rising bottoms. It could be forming what is called a “Bullish Ascending Triangle” which is highlighted in blue at (1). Two-thirds … Read more

FITTON: HUGE: Thanks to Judicial Watch lawsuit settlement, CA and LA County have begun a process, which will take a few years, that could remove up to 1.56 million “inactive” names from voter rolls.

by

by TFittonJW   The process is well underway…. Judicial Watch announced today that it signed a settlement agreement with the State of California and County of Los Angeles under which they will begin the process of removing from their voter registration rolls as many as 1.5 million inactive registered names that may be invalid. These removals are … Read more

CBP has released border numbers for May. Just stunning

by

via @NickMiroff: 144,258 apprehensions plus inadmissibles, up 32 percent from April More than 100k were families or children 680k processed during first 8 months of FY19 There it is 132,887 Border Patrol apprehensions in May Of those: 84,542 family unit members 11,507 unaccompanied children 36,838 single adults https://www.cbp.gov/newsroom/stats/sw-border-migration … “We are in a full-blown emergency, and I … Read more