The White House Is Blocking The New York Post From Attending Biden Appearances

via summit.news: The New York Post revealed Monday that The White House is blocking its reporters from attending Joe Biden’s public appearances, suggesting that it is doing so in retaliation for the outlet reporting on “his relatives’ foreign dealings.” The New York Post reported that despite there being 20 empty seats in the South Court Auditorium on … Read more

Credit Card Debt Increases at Near-Record Pace, Delinquency Rates Already Worse Than 2008

Already worse than 2008. https://t.co/SHSyomwhhA — Financelot (@FinanceLancelot) May 9, 2023 Meanwhile, credit card interest rates are rising at a historic pace. The average rate on credit card debt in the US just hit a record 24%. All while 73% of millennials now say they are living paycheck to paycheck. Follow us @KobeissiLetter for more … Read more

The Largest Landlord in the US

by Martin Armstrong Anyone familiar with the housing market conditions post-pandemic knows that cash buyers and institutions consistently outbid the average buyer. I know a realtor who has spoken primarily to consultants working on behalf of companies, and they’re willing to purchase properties over-market on a consistent basis. They know they can buy these properties … Read more

US City to Roll Out Guaranteed Basic Income

by Martin Armstrong The “Rise Up Cambridge: Cash Payments for Families with Kids” will provide low-income households with a monthly check for $500 to test guaranteed basic income. Those eligible are families with children who earn under 250% of the federal poverty level ($75K for a family of four). The 18-month program will not be based on … Read more

Best Buy Will Probably Disappear Soon As Perfect Storm For Bankruptcies Hits Major Retailers

https://www.youtube.com/watch?v=riMGD520ijs Long gone are the days when Best Buy ruled as the top electronics retailer in the U.S. The retail giant is not only losing ground on the market – in March, it reported a 45% decline in its annual net income from 2022, while domestic revenue fell by $13.5 billion – but after reports … Read more

It Could Happen To You

by Michael Those that are wrecking our economy don’t seem to have much empathy for the millions upon millions of people that they are hurting.  As you will see below, one Fed official is actually suggesting that interest rates may need to go even higher even though the interest rate hikes that we have already … Read more

Larry Fink filed with the SEC to sell $25M of Blackrock stock. This is not normal. Is Blackrock about to collapse?

BREAKING: Larry Fink filed with the SEC to sell $25M of Blackrock stock. This is not normal. Is Blackrock about to collapse? pic.twitter.com/2xI11NVOKm — WolvesAndFinance (@FinanceWolves) May 2, 2023 More than one in five senior federal officials owned stocks in companies affected by decisions their agencies made, a WSJ investigation found. https://www.wsj.com/articles/government-officials-invest-in-companies-their-agencies-oversee-11665489653?reflink=share_mobilewebshare AC

Pakistan Coup: 165 Nuclear Warheads Under Threat of Falling into Hands of Terrorists

🚨🇵🇰#Breaking: Ongoing Coup in #Pakistan!All major military bases in Pakistan are attacked and evacuated.Leaders of the country and Military are currently outside Pakistan.Protesters are heading to Islamabad to occupy government buildings. If the Free World doesn't interfere,… pic.twitter.com/sVbUu5nS9D — Terror Alarm (@Terror_Alarm) May 9, 2023 The private residence of Pakistan Prime Minister Shabaz Sharif was … Read more

Yellen is calling CEOs personally to warn on US debt ceiling, sources say. I wonder which of the CEOs tops her speed dial? I guess the mayo addict from Citadel!

WASHINGTON, May 8 (Reuters) – Treasury Secretary Janet Yellen is reaching out to U.S. business and financial leaders to explain the “catastrophic” impact a U.S. default on its debt would have on the U.S. and global economies, two sources familiar with the matter said on Monday. The Treasury secretary is having one-on-one conversations with individual … Read more