On Wire

Breaking news, updates, and reports on current events.

The IRS is about to double in size

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The Inflation Reduction Act of 2022 appears to have a good shot at being signed into law. If Senate Democrats can get Sen. Kyrsten Sinema (D-AZ) to join Sen. Joe Manchin (D-WV), the bill will have the necessary 50 votes to pass through the reconciliation process. Let’s hope that never happens. The plan would hurt … Read more

California ‘Detective of the Year’ charged for sending sexual messages to he thought was a child

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A veteran police officer who was named “Detective of the Year” in 2019 was charged with exchanging sexually explicit messages with someone he thought was a 14-year-old girl. Gregory Daniel Beaumarchais, 43, is facing a misdemeanor charge of annoying or molesting a victim believed to be under the age of 18, Orange County District Attorney officials … Read more

Oil Falls As EIA Reports Large Crude Inventory Build

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By Irina Slav Crude oil prices fell today after the Energy Information Administration reported a build in crude oil inventories of 4.5 million barrels for the week to July 29. This compared with a draw of an almost identical size for the previous week. U.S. crude oil inventories are at 426.6 million barrels, which is 7 percent below the … Read more

Only 3 times on the monthly we saw a death cross between the 10 and 20 MAs – 2001, 2008 and Now

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$QQQ $SPY $IWM Only 3 times on the monthly we saw a death cross between the 10 and 20 MAs👀 2001, 2008 and Now pic.twitter.com/7AztG5R6ye — Mauro (@MauroBianchi24) August 2, 2022 $TNX $TLT pic.twitter.com/WWzDmmF7DT — Arun S. Chopra CFA CMT🧐 (@FusionptCapital) August 2, 2022 62% of voters think the US economy is in a #recession. … Read more

THIS IS A HUGE MIDDLE-CLASS TAX INCREASE.

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78% to 90% of the money raised from super-sizing the IRS would come from those making less than $200,000 a year. Only 4% to 9% would come from those making more than $500,000. THIS IS A HUGE MIDDLE-CLASS TAX INCREASE. pic.twitter.com/VwXmdtJhXg — David Asman (@DavidAsmanfox) August 3, 2022

First GDP estimate update of the quarter, and it’s already down by 0.8% from original estimate. 3Y Treasury Yield is looking to catch up to 20Y Yield after passing 30Y Yield.

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by laflammaster 3Y Treasury Yield is looking to catch up to 20Y Yield after passing 30Y Yield. Everything is fine. Tick up for July ISM Services to 56.7 vs. 53.5 est. & 55.3 in prior month; new orders bounced back as prices paid and supplier deliveries fell; backlogs ticked lower, inventory remains in contraction (though … Read more

Non-woke liberals describe ‘living hell’ in Democrat shit hole Minneapolis…

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Charred rubble and shells of burned homes are what’s left of three properties on 14th Avenue South in the Phillips neighborhood of Minneapolis. Neighbors suspect the July 20 fires were connected to a nearby homeless encampment, but that is unconfirmed and the case remains under investigation. Alpha News is now sharing the sickening scene one … Read more

Tiny Company in UK with only 3 staff handed £70 billion Net Zero Contract

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The Place Group will ‘control, manage and deliver’ the public sector transition to Net Zero. Its website states: “We have a strong track record of developing winning free school applications and trusts across the country” https://www.cornwalllive.com/news/cornwall-news/small-company-cornwall-awarded-giant-7407664?fbclid=IwAR0dlG_Xk1c6q4hthJ8qVBPSir7TbMnx-k5xlcikUT-xko868_ayhx_bkUM&fs=e&s=cl I searched the Company. It consists of two directors and one secretary. It’s classified as a micro company, one … Read more

Persistent Inflation Scares The Fed

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By Michael Lebowitz The markets are now betting that inflation will soon subside, allowing the Fed to pivot. But, if inflation proves persistent and not transitory, the Fed may have much more work to do, to the detriment of asset prices. There are two schools of thought on the issue of transitory versus persistent inflation. … Read more

Global Social Unrest Has Just Begun With Chris Martenson

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The Lead-Lag Report, Released on 8/2/22 Believe it or not, the Fed may not be telling us the truth about tightening. Christopher Martenson is a former American biochemical scientist. Currently he is a writer and trend forecaster interested in macro trends regarding the economy, energy composition and environment. He is the founder of PeakProsperity.com. As one … Read more

Joe Rogan: Biden Admin “Weasels Gaslighting” Americans

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Podcaster and comedian Joe Rogan called the Biden administration a “bunch of weasels” that are “gaslighting” the public by changing the definition of “recession.” Rogan made the comments during the latest installment of his show while speaking with guest Chris Williamson. Williamson informs Rogan that the Biden administration has refused to admit that the US … Read more

TROUBLES: FORBES for sale…

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Adds NYT report details, Citigroup response Aug 2 (Reuters) – Media firm Forbes is exploring a sale of its business at a price of at least $630 million, the New York Times reported on Tuesday, citing four people with knowledge of the process. The publisher of Forbes magazine has tapped investment bank Citigroup to explore … Read more

This Fed Announcement Is Driving Democrats Mad

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Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, warned Sunday the inflation crisis does not appear to be slowing down anytime soon. Inflation hit 9.1% last month, a figure not seen in more than 40 years. What did Kashkari say? Speaking on CBS News’ “Face The Nation,” Kashkari revealed that economists are repeatedly … Read more

Weakest services PMI since May 2020

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⚠️ U.S. IHS Markit Services PMI Final (Jul): Act: 47.3Prev: 52.7Fcst: 47 Business activity declines for first time in over two years amid soft demand conditions Fastest fall in output since May 2020https://t.co/b33hpiVcN4 pic.twitter.com/vDlMiTtDVy — PiQ (@PiQMarkets) August 3, 2022 Composite PMI in the United States decreased to 47.70 points in July from 52.30 points … Read more

Americans are piling up credit card debt as they struggle to keep up with the high cost of living

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by Boo_Randy Per the NY Fed, U.S. household debt hit a record $16 trillion as soaring inflation outstripped wages, causing consumers to sink deeper into debt. This is not going to end well. Heckova job, “Zimbabwe Ben” Bernanke, Yellen the Felon, & BlackRock Jay. https://www.cnn.com/2022/08/02/economy/consumer-credit-borrowing-surge/index.html **New York (CNN)**Americans are piling up credit card debt as … Read more