IRS Targeting Payment Apps

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by Martin Armstrong No one earning under $400,000 will experience a rise in taxes, the Biden Administration repeatedly promised. Unfortunately, albeit unsurprisingly, this is not true as the IRS is now hunting for new taxes for nearly every transaction that takes place. Payment apps such as Venmo, Zelle, Cash App, and PayPal were easy ways … Read more

High Inflation Means Lower Equity Valuations – Shiller’s CAPE at 40 today, likely to drop to 25 at 5% inflation. 37% equity decline possible.

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High Inflation Means Lower Equity Valuations – Shiller's CAPE at 40 today, likely to drop to 25 at 5% inflation. 37% equity decline possible. h/t @michaellebowitz @jam_croissant @spotgamma @AnnTrades @HarrisSamaras #trading #TRADINGTIPS #ES_F #SPX500 #OptionsTrading #Options pic.twitter.com/nqSyDzAf77 — Patrick Hill (@PatrickHill1677) January 13, 2022 https://twitter.com/leadlagreport/status/1481674419151978500

1,066% Rise In Fentanyl Seizures In South Texas In 2021

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According to a report by CNN, in the fiscal year 2021, US Customs and Border Protection recorded a 1,066 percent rise in the amount of fentanyl seized in south Texas. CBP agents confiscated 87,652 pounds of narcotics from Brownsville to Del Rio, including 588 pounds of fentanyl, a painkiller, according to the report. The drugs’ … Read more

It’ll go up higher. Don’t worry.

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It'll go up higher. Don't worry. https://t.co/hzaMUB1rQY — Trinh (@Trinhnomics) January 13, 2022 The System is broken nowđŸ”„#Collapse https://t.co/qhrJvUKowj — Antonio PĂ©rez-AlgĂĄs (@apanalis) January 12, 2022 Manhattan rents were the highest ever for December https://t.co/DG0iFyz6zC — Igor Schatz (@Copernicus2013) January 13, 2022

High Inflation is a wrecking ball to the economy.

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High Inflation is a wrecking ball to the economy. 1 in 7 German Business face ruin due to high inflation and government shutdowns. pic.twitter.com/oBTgiMO9Ux — Peter Spina ⚒ GoldSeek | SilverSeek (@goldseek) January 13, 2022 Core goods #inflation (blue) still outpacing core services inflation (orange) at a marked pace pic.twitter.com/IoEoougfHZ — Liz Ann Sonders (@LizAnnSonders) … Read more

Five additional states pass laws to make military retirement incomes tax-free

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Five states have passed new laws that will allow those collecting military retirement checks to receive the additional benefit of collecting that money tax-free. The additions bring the total number of states that don’t subject military retirement income to their state income tax to 26, while nine others offer a partial exemption. Six states and … Read more

U.S. producer price inflation jumps 9.7% in December from a year ago, the highest y/y increase on record. U.S. DOLLAR plummeting hard. The Fed is still acting too slowly??

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U.S.đŸ‡ș🇾 DOLLAR đŸ’” pic.twitter.com/yNiCOpMcHi — Win Smart, CFA (@WinfieldSmart) January 13, 2022 US December headline PPI inflation came in at 9.7%, a new record and just below the median forecast. The core measure was 8.3%, compared to the prior 7.7% and an 8.0% median forecastWeekly jobless claims rose to 230,000, up from 207,000 and above … Read more

Sea change at hand? Share of global central banks with policy rates < 1% has rolled over and is falling...

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Sea change at hand? Share of global central banks with policy rates < 1% has rolled over and is falling ⁊@BIS_org⁩ ⁊@TS_Lombard⁩ pic.twitter.com/JovdLCPik0 — Liz Ann Sonders (@LizAnnSonders) January 13, 2022 Negative real rates support positive returns for stocks. pic.twitter.com/9hyYHOaSOf — Daniel Lacalle Official Account (@dlacalle_IA) January 13, 2022 https://twitter.com/Damian59818983/status/1481607516337356802 "Investors still struggle with one … Read more

Inflation Nation! US PPI Final Demand Soaring At 9.7% YoY As CPI Soared 7.0% YoY (Energy Prices Lessened In Q4 But Are Surging Again In 2022)

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by confoundedinterest17 Yesterday’s inflation report was the worst in 40 years. But at least today’s Producer Price Index Final Demand is down slightly from November. But PPI Final Demand YoY is still roaring at 9.7%. The producer price index for final demand increased 0.2% from the prior month and 9.7% from a year earlier, Labor … Read more

A New Bill In California Would “Double Taxes” In Order To Pay For A Statewide Single Payer Healthcare System

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by Michael Snyder Are politicians in California actually trying to make the mass exodus out of their state even worse?  Even though Democrats currently have control of the White House, the Senate and the House of Representatives, it has become exceedingly clear that a national single payer healthcare system is not going to happen any … Read more

The Dollar Has Entered A Death Spiral, And A Lot More Inflation Is On The Way

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by Michael Snyder Did anyone out there actually expect things to turn out differently?  When the federal government kept borrowing and spending trillions upon trillions of dollars that we did not have, we were warned that this day was coming.  And when the Federal Reserve kept pumping trillions upon trillions of fresh dollars into our … Read more