On Wire

Breaking news, updates, and reports on current events.

Union negotiations stalled – National rail shut down within 90 days possible

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Negotiations between major railroads and their unions have stalled, setting up for what could be a significant railroad shut down before the midterm elections that could paralyze an already-strained US supply chain. Railway Age reports the National Mediation Board (NMB) on June 14 began what could be a “ticking time bomb” toward a national railroad shut down within … Read more

The reverse repo award rate going up nearly 100% at the same time inflation at 40 years high

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by ISayBullish The Reverse Repo Program (RRP) is, in layman’s terms, a program where market participants lend cash to the Federal Reserve, in exchange for an interest rate of usually 0.8% and typically overnight in exchange for Treasuries or other government securities, with a promise to buy them back. That rate today changed from 0.8% … Read more

Inflation is a global phenomenon

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Inflation is a global phenomenon. pic.twitter.com/8zCSzNj430 — The Intellectualist (@highbrow_nobrow) June 16, 2022 Soaring inflation is a truly global phenomenon, with the U.S. near the middle of the pack, according to an analysis of 111 countries. https://t.co/3Ji2Pgcolh — Axios (@axios) June 13, 2022 Global Inflation Rates… pic.twitter.com/x7xbuXe3Dl — Charlie Bilello (@charliebilello) June 10, 2022   … Read more

‘The economy is going to collapse,’ says Wall Street veteran Novogratz.

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‘We are going to go into a really fast recession.’ “Housing is starting to roll over,” he said. “Inventories have exploded.” “There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.” Before the Fed announced its decision, Novogratz speculated … Read more

The European Debt Crisis 2023-2024

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by Martin Armstrong The European Central Bank has announced that it plans to create a new tool to tackle the risk of eurozone fragmentation, which is the new term for divergence among member states. They are adopting this tactic out of fears of a new European debt crisis that is inevitable. From the very beginning … Read more

There is no way the smart money is going to return into the market in this environment

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Atlanta FED GDPnow estimate has fallen to 0% for Q2 There is no way the smart money is going to return into the market in this environment pic.twitter.com/NsC7kpzk3M — Alessio (@AlessioTMAD) June 15, 2022 The $50 Billion Leveraged Loan Buyout Challenge May Get Worse https://t.co/aVTZfkGWyV — Alessio (@AlessioTMAD) June 15, 2022 Largest rate hike in … Read more

Big short movie was just a joke compared to this…

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Just wait until house prices start to collapse Big short movie was just a joke compared to this https://t.co/FuNWxwQwBb — Alessio (@AlessioTMAD) June 15, 2022 US existing home months of supply trends 2008 has been a completely different environment In 08 we had: housing price affordability at the highest level and supply at record levels … Read more

Could Retail “Bagholders” Spark a Rally “Smart Money” Will Be Forced to Chase?

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by Charles Hugh-Smith There would be some deliciously karmic justice in the “dumb money” driving a rally that forced the “smart money” to cover their shorts and chase the rally that shouldn’t even be happening. Being cursed with contrarianism, as soon as a trade gets crowded and the consensus is one way, I start looking … Read more

Supply Chain Collapse! This Is An Emergency! Years Of Empty Shelves To Come?

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by Josh Sigurdson via World Alternative Media Josh Sigurdson reports on the continuing collapse of the supply chain as more factories burn down, wheat supply collapses and gas prices skyrocket, all while studies are warning about potentially YEARS of empty shelves in Britain. This is all part of the Great Reset agenda to force people into a digital … Read more

Energy sec Jennifer Granholm insists high gas prices are ‘a very compelling case’ to buy an electric car: and recently sold stock in electric car company

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Granholm, in a clip surfaced Tuesday, made the case for going electric amid sky high gas prices  ‘If you filled up your EV [electric vehicle] and you filled up your gas tank with gasoline, you would save $60 per fill-up,’ she said   Granholm made similar points in a White House press briefing in May 2021. ‘If … Read more

No way that cost only $350

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Biden administration proposes plan to have all Americans pay $350 to upgrade their furnaces so they are ‘energy efficient’ by 2029 The new rule would require that gas-burning residential furnaces be condensing gas furnaces Condensing furnaces which reuse gas and water vapor that normal noncondensing furnaces vent into the atmosphere  All gas-burning furnaces on the … Read more