Powell says Fed policies ‘absolutely’ don’t add to inequality… Food prices see historic jump; Likely to stay high

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(Bloomberg) — Federal Reserve Chairman Jerome Powell cast the central bank’s actions during the coronavirus crisis as aimed squarely at helping U.S. workers, a tactic to head off criticism which has dogged it since the last recession: that its policies primarily serve Wall Street and wealthier Americans. The Fed’s flurry of emergency lending since mid-March … Read more

The US/China conflict is likely to escalate in the future. This is not a fight between equals as is often portrayed in the media.

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by NineteenEighty9 I want to preface this by saying: I support free markets, free speech and democracy. The PRC/CCP lacks the legitimacy of its people and represents the greatest threat to personal freedoms and individual liberties around the world since the USSR. As with all totalitarian regimes it is deeply insecure, vindictive, coercive, and values … Read more

DOG WHISTLES THAT DIDN’T BARK:

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● Biden fails to condemn rioting in remarks on Minneapolis. ● Missed it by This Much: Obama’s statement on death of George Floyd leaves out something pretty freakin’ important. ● Minneapolis mayor urges protesters to wear masks and practice social distancing. ● Trevor Noah Defends Looting: ‘Police in America Are Looting Black Bodies.’ In sharp contrast: Atlanta Mayor Keisha … Read more

“WE CANNOT ARREST PEOPLE WHEN WE’RE TRYING TO HOLD GROUND BECAUSE OF THE SHEER SIZE, THE DYNAMICS AND THE WANTON VIOLENCE THAT’S COMING OUT THERE.”

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via althouse “There’s simply more of them than us,” said Minnesota Governor Tim Walz, quoted in “George Floyd Updates: ‘Absolute Chaos’ in Minneapolis as Protests Grow Across U.S.” (NYT). Gunshots rang out near a different police precinct and flames streamed from businesses over several city blocks — a gas station, a post office, a bank, a restaurant — … Read more

Over 9 MILLION US Families Fear They Can’t Afford Food Next Month: Census Survey

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Authored by Julia Conley via CommonDreams.org, A poll released by the U.S. Census Bureau this week revealed that at least nine million American households that include children are unsure whether they’ll be able to access enough food in the next four weeks and millions more are experiencing housing insecurity during the coronavirus pandemic. The bureau’s weekly Household Pulse Survey, taken between … Read more

Just like that, social distancing is over

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by DCG Back in March our country and economy was shut down due to China’s Wuhan virus. We were told to stay at home – unless you were deemed essential – and practice social distancing in order to save lives. Because of this, unemployment rose dramatically as did crime and suicides. Millions of people isolated and … Read more

These are “Organized Groups” that have nothing to do with George Floyd. Sad!

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These are “Organized Groups” that have nothing to do with George Floyd. Sad! — Donald J. Trump (@realDonaldTrump) May 30, 2020 The professionally managed so-called “protesters” at the White House had little to do with the memory of George Floyd. They were just there to cause trouble. The @SecretService handled them easily. Tonight, I understand, … Read more

VIDEO: Looter Dies Trying to Rob FedEx Semi Truck

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VIDEO: Looter Dies Trying to Rob FedEx Semi Truck https://twitter.com/Stavillion/status/1266666255924125696 https://twitter.com/clarkmcgwire/status/1266642543128666112 NOTE: Not my claim. ***UPDATE #1*** Happened in St. Louis. The video captured protesters banging on the FedEx truck, urging the driver to back up. A man, who was seen standing between the truck’s two trailers, was dragged by the semi truck just moments … Read more

Wilding Weekend in the USA?

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Breaking: Fights break out in protest in Los Angeles. — EndGameWW3 🇺🇸 (@EndGameWW3) May 30, 2020 BREAKING: Car drives through protestors in California https://t.co/QzArmyE2bO — NewsHQ (@NewsHQ_) May 30, 2020 Update: Police Officer injured in Protest in Los Angeles. — EndGameWW3 🇺🇸 (@EndGameWW3) May 30, 2020 Update: Police and Protesters are clashing in downtown L.A. … Read more

Many market participants overestimate the “positive” impact of government spending and monetary policies. Then comes the reckoning.

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Many market participants overestimate the "positive" impact of government spending and monetary policies. Then comes the reckoning.@Hedgeye https://t.co/yitgEInRHf — Daniel Lacalle Official Account (@dlacalle_IA) May 30, 2020 Cities are burning. Real economy is on life support. And here we are… Debating whether the $SPY holds $3k and when the next round of stimulus / easy … Read more

Keep An Eye On The Yuan & Corporate Spreads

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Authored by Steven Vannelli via Knowledge Leaders Capital blog, Since the March 23, 2020 low, when the Federal Reserve announced basically unlimited liquidity via a variety of programs, corporate spreads have narrowed, and the stock market has risen substantially. In the chart below, I overlay US investment grade spreads over the S&P 500 Index. The funny … Read more

McAlvany: Will silver follow gold higher? … Peter Schiff: Do the math; the US is an insolvent zombie nation … David Stockman: Why the lockdown is stupid …

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BY JOHN RUBINO McAlvany: Will silver follow gold higher? … Peter Schiff: Do the math; the US is an insolvent zombie nation … David Stockman: Why the lockdown is stupid … Bob Hoye: Deflation is here, but so is a multi-decade gold bull market … Matt Taibbi: how the mainstream media lost its way …