Taxes Too Darned High, Retarding The Economy

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by Tom McClellan Low taxes are a big stimulus to economic activity.  Everyone knows that.  Curiously, not everyone understands that high taxes are a giant restriction on the economy. This week’s chart helps to offer evidence of that latter point.  We have several decades of history to show us that jacking up tax collections to too … Read more

No sign of a bubble anywhere….

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https://twitter.com/NorthmanTrader/status/1423240885614039044 https://twitter.com/MattBruenig/status/1423123895541026818 https://twitter.com/PriapusIQ/status/1423230688933957633 #recession … #GFC2 US #Corporate #Debt #Bubble edition$HYG $JNK 📉 https://t.co/3clHTT9QFS pic.twitter.com/qj4P4Q5nie — Invariant Perspective (@InvariantPersp1) August 5, 2021 Party like its 1999: S&P 500, Nasdaq Composite & 100 close at record highs. pic.twitter.com/LMzbKdN2BI — Holger Zschaepitz (@Schuldensuehner) August 5, 2021 https://twitter.com/NorthmanTrader/status/1423351888976691200

VIDEO: UPDATE: Supporters of President Bolsonaro Take to the Streets and DEMAND FREEDOM – An Inspiration to Freedom-Loving Americans

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Timestamp: 1:05 Highlights: #1: “We will not accept rigged elections.” 1:49 #2: “President Bolsonaro is about to issue a decree to make sure that Big Techs will not censor conservatives in social media anymore.” 2:22 #3: “But it doesn’t go any further, they shut up one of us then appear one hundred. If they shut … Read more

Mortgage Rates In The U.S. Dipped To Lowest Level In Almost Six Months, 2.77% (But Consumers Are Going To Need A Bigger Boat!)

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by confoundedinterest17 There is good news from Freddie Mac today. Their 30-year mortgage commitment rate fell to 2.77%, the lowest in almost six months. The bad news? Consumers are going to need a bigger boat since the Case-Shiller national home price index is growing at 16.61% YoY. Thanks to the Federal Reserve chumming the waters.

Venezuela to Cut Six Zeros From Bolivar, Push Digital Adoption (As Fed’s Waller Says He’s ‘Highly Skeptical’ Of A Fed Central Bank Digital Currency)

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by confoundedinterest17 Rather than fix their 2,500%+ inflation rate, Venezuela is simply dropping six zeros from their currency, the Bolivar. (Bloomberg) — Venezuela will remove six zeros from the bolivar in another attempt to save a currency that has been wracked by one of the longest episodes of hyperinflation in history. The central bank said it plans … Read more

Currency Emergency: When the Debt Comes Due

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by: Stefan Gleason What happens when the debt comes due? It’s a question millions of Americans are grappling with in their personal finances. It’s also a multi-trillion dollar question facing officials in Washington, D.C. How they decide to answer it – or evade it, as the case may be – will have profound implications for … Read more

Why governments should not direct pension investment

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by Shaun Richards Yesterday brought an intriguing joint statement from the UK Prime Minister Boris Johnson and Chancellor of the Exchequer Rishi Sunak. This morning it has been published as an open letter so let us take a look. The United Kingdom’s economy possesses a rich pool of assets ripe for long-term investment and bolstered … Read more

Landlord out $24,000 in rent due to eviction moratorium, says tenants buying boats… Landlords fight back….

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Watch the latest video at foxnews.com via FOXNEWS: A North Carolina landlord says he is out $24,000 in unpaid rent from tenants, while one renter bought three boats over the course of the eviction moratorium just as the Centers for Disease Control and Prevention announced a new ban that will last until Oct. 3. Buddy Shoup, … Read more

Facebook shuts out NYU academics’ research on political ads

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Facebook has shut down the personal accounts of a pair of New York University researchers and shuttered their investigation into misinformation spread through political ads on the social network. Facebook says the researchers violated its terms of service and were involved in unauthorized data collection from its massive network. The academics, however, say the company … Read more

Sen. Rubio’s chilling warning: China has weaponized America’s own ‘corporate lust for profits

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China has long rivaled the United States as a top global economic power, but in a Wednesday Senate Intelligence hearing, Senator Marco Rubio (R-FL) made an important point, saying that China has weaponized America’s own “corporate lust for profits” against the U.S., and the evidence is clear everywhere from the grocery store to Hollywood. Rubio … Read more