On Wire

Breaking news, updates, and reports on current events.

The Ravages Of Inflation: US Consumer Credit UP 7.9% YoY In November While Personal Savings Collapses -64.8% YoY

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by confoundedinterest17 As we are painfully aware, inflation is still high at 7.1% Year-over-year (YoY). To cope with inflation, consumers have been gutting their savings and increasing their use of credit. In November, consumer credit increased 7.9% YoY while personal savings fell -64.8% YoY. The good news? Inflation month-over-month is expected to be 0% tomorrow. So, inflation will … Read more

“Babies are Too Expensive” is One of the Most Insidious Psyops Pulled on the Millennial and Zoomer Generations

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by Chris Black Disposable diapers cost thousands of dollars per year. Same goes for baby formula and store bought baby food. All of this can be avoided with washable diapers, breastfeeding or home-made formula, and baby-led feeding. Once they start getting teeth, you literally just take whatever you made for dinner and cut it into … Read more

Baked Alaska Sent To Jail Over 1/6

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by Chris Black A federal judge on Tuesday sentenced live-streamer Baked Alaska to sixty days in prison for filming the Capitol riot. Baked Alaska did not break anything. He walked in when the cops opened the doors and invited people in. It’s all on the infamous stream. We’ve known this whole time that the cops … Read more

Good news for the January 6 prisoners in DC

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EXCLUSIVE: J6 defendants sitting in the D.C. gulag are seeing a slight sign of hope. These political prisoners are now being allowed to receive face-to-face visitors, religious services, and more. This all happened after @RepTroyNehls visited the jail last Thursday. pic.twitter.com/Rpkn1fh9Ha — The Absolute Truth with @EmeraldRobinson (@AbsoluteWithE) January 9, 2023

BAN ALL THE THINGS! The Attack on Things That Work:

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via commentary: The loss of these techniques may not disturb those for whom fine dining is one restaurant reservation away—those with sufficient means who reside in locales with access to that level of finery. That leads us to perhaps the most important distinction between electric and gas overlooked by America’s busybodies: gas is cheaper. In most … Read more

Microsoft reportedly plans to invest $10 billion in creator of buzzy A.I. tool ChatGPT

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https://www.cnbc.com/amp/2023/01/10/microsoft-to-invest-10-billion-in-chatgpt-creator-openai-report-says.html Microsoft plans to invest $10 billion in OpenAI, the startup behind popular artificial intelligence tool ChatGPT, according to a report from Semafor. The deal is part of a funding round with other investors involved that would value OpenAI at a whopping $29 billion, Semafor reported Tuesday, citing people familiar with the matter. It isn’t … Read more

Coinbase to Cut ~20% of workforce

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Coinbase Global said that it would eliminate around 20% of its staff and enact broad cost cuts, the latest sign of pain in the cryptocurrency industry. Chief Executive Brian Armstrong said that crypto exchange Coinbase will reduce operating expenses by 25% from the previous quarter, including laying off about 950 people. At the end of … Read more

5 college basketball players in Chicago in hospital after tough workout

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It has been reported that five members of the Concordia University Chicago basketball team in River Forest were hospitalized after partaking in a “rigorous workout.” According to the Associated Press, the training was a punishment for how the players acted on a recent team trip to California, where they stayed out past their curfew. Five players … Read more

Is the Worst Over For This Bear Market?

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By Graham Summers, MBA In 2022, the Everything Bubble burst courtesy of the inflation created by over $8 trillion in Fed and Federal government money printing. As I outlined in my best-selling book, The Everything Bubble: the Endgame for Central Bank Policy, the Fed created the Everything Bubble when it attempted to corner the U.S. Treasury market … Read more

Small Business Optimism Index Plunges Below 90 As Fed Tightens Money With M2 Money Growth YoY Hitting 0% (Baltic Dry Index Continues Downward Descent)

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by confoundedinterest17 The NFIB Small Business Optimism Index is plunging and just fell below 90. The index was above 100 before the Wuhan virus outbreak in 2020, but has only been at 100 or above for only two months under Biden. And the trend is definitely looking bleak as The Federal Reserve fights inflation with … Read more

Opinion: Nothing is guaranteed but don’t be surprised if there is another inflation spike around the corner, even with a hawkish Fed

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by goldenloi There seems to be a widespread consensus that inflation has peaked and it’s down from here. I tend to disagree, though I acknowledge that this is possible. Nothing is guaranteed and no two time periods are exactly the same but inflation saw a double spike in the 1970s and it could easily happen … Read more

The Fed has increased the Fed funds rate quite a bit but they’ve only shrank their balance sheet by 5% and things are already breaking

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by BoatSurfer600 Source: https://markets.businessinsider.com/news/stocks/recession-warning-economic-outlook-inverted-yield-curve-fed-rate-hike-2023-1 Morgan Stanley Warns US equities could slump another 22% from current levels — Goldman’s Kostin also sees 2023 earnings estimates as too high (Bloomberg)

Scott Adams Labels Lawyer Robert Barnes an “Idiot, Wrongness level: Clown,” Accuses Him of Slander: “It’s personal.”

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Today I learned that idiot lawyer Robert Barnes believes the creator of Dilbert trusts institutional sources of information. Wrongness level: Clown pic.twitter.com/PvqZLtyhBO — Scott Adams (@ScottAdamsSays) January 9, 2023 Here is Scott Adams (who called me lots of names & blocked me for pointing out the below) presenting arguments for the vaccine passports. Maybe Scott … Read more