On Wire

Breaking news, updates, and reports on current events.

IRS Agents Training to Raid Homes

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by Martin Armstrong The Internal Revenue Service 2021 report contains a bit more information about who the IRS aims to target – you. These special IRS Criminal Investigation agents are armed and ready to prevent a penny from leaving the government’s control. After only six months of training, these armed accountants will learn how to use weapons and … Read more

There’s “just crime everywhere.”

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This California business owner is so FED UP with the Democrat-run state that he’s moving to Alabama. There’s “just crime everywhere.” pic.twitter.com/O6QdSvA2WQ — RNC Research (@RNCResearch) August 17, 2022 CNBC: The worst cities for restaurants reopening after COVID are ALL run by Democrats in Democrat-run states or districts. pic.twitter.com/kHX1v3kS9O — RNC Research (@RNCResearch) August 17, … Read more

Total mortgage demand falls to a 22-year low, lower than in 2008. Big wave down coming as we head into midterms. Everyone will learn that you get out of the casino when you CAN get out, not when you have to.

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Total mortgage demand hits 22 year lows. Yes that’s lower than 2008 pic.twitter.com/5Ke54ouwqC — QE Infinity (@StealthQE4) August 17, 2022 Bulls, the Fed minutes said the same thing this time as they said every other time this year. They are going to keep tightening until you explode. Although, I didn't actually read the minutes themselves. … Read more

Bulls, as long as you and Cathie Wood have fools who will follow, Bernie Madoff will never die. Just remember his Ponzi scheme was revealed in the Fall of 2008. And so will yours.

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Bulls, as long as you and Cathie Wood have fools who will follow, Bernie Madoff will never die. Just remember his Ponzi scheme was revealed in the Fall of 2008. And so will yours. pic.twitter.com/ue6rd3n1dD — Mac10 (@SuburbanDrone) August 16, 2022 This rally is brought to you by twice lowered "better than feared" recessionary retail … Read more

I hope Ryan Cohen enjoys prison…

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I hope Ryan Cohen enjoys prison$BBBY$GME pic.twitter.com/iuQgtkTUmV — JC Oviedo (@JCOviedo6) August 17, 2022 #recession … #StockMarket #Bubble edition#MemeStocks #wallstreetbets #WSB #DayTrading #OptionsTrading https://t.co/ADv9LKljFO — Invariant Perspective (@InvariantPersp1) August 17, 2022

Europe’s Power Prices Surge To New Record

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By Tsvetana Paraskova Year-ahead electricity prices continue to soar in Europe, with German power prices, the European benchmark, jumping to over $508 (500 euro) per megawatt-hour on Tuesday amid low Russian gas supply and a heatwave constraining supply and output from other fuel sources. Over the past year, German power prices have soared by around … Read more

This New IRS Change Proves The Gloves Are Off

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via REASON: The Internal Revenue Service’s national headquarters in Washington, D.C.—a hulking New Deal-era monstrosity that’s ironically located on Constitution Avenue—has U.S. Supreme Court Justice Oliver Wendell Holmes’ oft-repeated words carved on the exterior facade: “Taxes are the price we pay for a civilized society.” Yet there’s nothing particularly civilized about the IRS—the nation’s heavy-handed, incompetent and … Read more

Curving Toward Stagflation

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by John Mauldin The latest data shows inflation is still with us at an 8.5% annual rate. That means we can expect the Fed to keep tightening, trying to reduce demand and relieve pressure on consumer prices. At the same time, we’ve seen declining GDP growth the last two quarters. Some people raise measurement issues. … Read more

AZ cop pulls down innocent man’s pants and tasers him smack in the groin, after HANDCUFFING HIM and tasering him 12 times!

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You guys heard about this back then? First I’ve heard of it now! (I searched here, but couldn’t find anything on this 3 yr old story…well 5 but it didn’t break back then.) SPOILERS: the cop got away with it, and resigned claiming “disability” and is getting a pension & other benefits! The guy was … Read more

America’s $7 Trillion Retirement Crisis Is Only Getting Worse

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Bloomberg (via MSN), Released on 8/16/22 Americans have been warned for years of an impending retirement crisis. Yet the situation is getting worse. Even when everything was going right — inflation was nonexistent, interest rates were low and stocks were in an extended bull market — there was a multi-trillion dollar savings shortfall. Then came a pandemic, … Read more

US High Yield – CDX has tightened by 180bp in 6 weeks despite dismal data. Against the collapse in homebuilder sentiment & Empire PMI it looks nuts.

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US High Yield – CDX has tightened by 180bp in 6 weeks despite dismal data. Against the collapse in homebuilder sentiment & Empire PMI it looks nuts. pic.twitter.com/2M7SEwXGLC — PPG (@PPGMacro) August 17, 2022 US mortgage payments as percentage of income higher than at the top of the subprime bubble👇 What could go wrong? Chart … Read more