Holiday Sales Outlook

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Source: Wells Fargo In what undoubtedly will be remembered as one of the most challenging and transformative years for most retailers, we are forecasting holiday sales will increase 9.0% in 2020, which would be the largest increase on record (Figure 1). That is not to say that things are fine for all retailers, (they are not), … Read more

Just like how the mafia takes over a business then bankrupts it and burns it down

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The Bidens Got Into the Hospital Business and People Died There wasn’t enough money for medication, tests, or sterilizing instruments, but lots of money for the Bidens. The old slogan, “The Best of Care” can still be found on Ellwood City Medical Center’s old promotional materials. When the pandemic began, the old rural Rust Belt … Read more

ALICE Doesn’t Work Here Anymore

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by Charles Hugh-Smith What the political class and the Financial Nobility don’t yet grasp is that ALICE will never go back to her insecure, low-wage job, ever. Meet ALICE: Asset Limited, Income Constrained, Employed, at least she was employed until the pandemic presented impossible choices between taking care of her children and their education, and her … Read more

Floods of money printing would be inflationary, yet there is no sign of inflation *anywhere.* None.

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#recession … #Fed Pushing on a String edition https://t.co/VKDj7twsJY — Invariant Perspective (@InvariantPersp1) October 29, 2020 It’s not just that he and others like him have the cart before the horse here; they don’t even know which is the cart and what’s the horse. In other words, the Treasury market didn’t grow too big – … Read more

“We have borrowed so much that I’m skeptical that three to five years out that equities will give us any kind of return.” — Stanley Druckenmiller (yesterday)

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“We have borrowed so much that I’m skeptical that three to five years out that equities will give us any kind of return.” — Stanley Druckenmiller (yesterday) Many valuation metrics agree, with future expected 5-year & 10-year returns possibly flat to negative for $SPX. pic.twitter.com/wGQKUTlj7G — Tiho Brkan (@TihoBrkan) October 28, 2020 Negative equity: through … Read more

State Level Unemployment Benefits Are Rapidly Expiring

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via mishtalk: Unemployment insurance varies widely state by state. Those with expiring benefits are in serious trouble. Confusing Array of State and Federal ProgramsMy chart is modified from CBPP Center on Budget and Policy Priorities Policy Basics: How Many Weeks of Unemployment Compensation Are Available? Where I show two numbers, the first number is regular state unemployment … Read more

How Does the Pandemic Recession Stack Up against the Great Depression?

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STL Fed Group Vice President and Deputy Director of Research David Wheelock explained that the Great Depression was likely the largest and longest slump in economic activity in U.S. history, though records for the18th and 19th centuries are sketchy. “Comparing the 2020 recession with the Great Depression is also fraught with measurement difficulties, but some rough comparisons … Read more

Justice Thomas supports changes to section 230!

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The Department of Justice (DOJ) on Tuesday sent a letter to congressional leaders advocating for changes to Section 230 of the Communications Decency Act, a law passed about 25 years ago that prevents tech companies from being sued for user content posted on their platforms. As Internet companies have become larger and more powerful — and more central to American political … Read more

Something Wicked This Way Comes: Anarchy Is Being Loosed Upon the Nation

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by John Whitehead via The Rutherford Institute “Every day I ask myself the same question: How can this be happening in America? How can people like these be in charge of our country? If I didn’t see it with my own eyes, I’d think I was having a hallucination.”—Philip Roth, novelist Things are falling apart. How much longer we can … Read more

France’s Macron imposes nationwide lockdown starting Friday! Germany’s healthcare system about to collapse

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FRANCE BACK ON LOCKDOWN – People required to stay at home, except for school, work, and essential travel – Travel between regions prohibited – Macron: 2nd wave could be deadlier, ICU count expected to reach 9,000 – Lockdown will be eased when number of new cases falls to 5K a day #URGENT | #France's Macron … Read more

The best Nancy Pelosi Meltdown video I’ve ever seen and is destroyed by Democratic Progressive comedian Jimmy Dore

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Pelosi is going to be the GOP MVP again. I’m telling you that I believe Republicans will take over the House. Just watch this awesome video and how Progressive Democrat Jimmy Dore destroys Pelosi. Look at the comments on the video on youtube of all the life long Democrats who are now voting for Trump. … Read more

China’s 3 Gorges Dam has reached maximum capacity

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https://twitter.com/TruthAbtChina/status/1321337801435160576 Five minutes ago, the water level at the Three Gorges Dam officially reached the dam’s maximum capacity of 175 meters. As of 2:20 pm local time, October 28th, 2020, the water level is 175.00 meters and rising slowly.     h/t nonnomenes