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By Jared Dillian I was unhappily scrolling through Facebook the other day and saw that one of my smart friends had posted a dumb article about the excellent Toronto Raptors basketball player who, despite making nearly a hundred million dollars, still drives a 20-year-old beater SUV. He said of the car: “It runs… and it’s … Read more
A Minnesota man applied for and then received government food stamps for well over a year, even though he is a millionaire, in an effort to prove his belief that the eligibility requirements for the benefits in his state were too loose. Rob Undersander’s story will be told in a Thursday House agriculture subcommittee meeting. … Read more
by rxsieDx Yesterday, an article written by Owen Jones called ‘a US war with Iran looms. Don’t think for one second that it is justified’. The link to the article is here One quote that stood out to me was: ‘and a movement to stop a repeat of Iraq and Libya needs to get its act together … Read more
via dailymail.co.uk: The polls don’t look good for Donald Trump. I mean, by any normal yardstick, the President is heading for a defeat in the 2020 election. He’s lagging behind in many of the crucial states that swung the White House his way in 2016 – like Michigan, Wisconsin and Pennsylvania. Indeed, the polls look so worrying that … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Here’s why. Powered by the iffy situation in the Persian Gulf, the Strait of Hormuz, and the Gulf of Oman, with attacks on tankers and now the downing of a US drone, the price of crude oil got a little nervous in recent days. WTI jumped about 6% today to over … Read more
BY JOHN RUBINO Peter Schiff: The Fed readies the markets for a July rate cut … Gerald Celente: The economy will OD on “monetary methadone” … Max Keiser on “Deutsche Bank’s death spiral” … Mike Maloney: A higher silver price is going to stun the markets … Ted Butler: JP Morgan has “spring-loaded an explosive move … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter For six months now, folks said the Fed had made a “U-turn” and would cut rates at the “next” meeting, or in between meetings, and by 50 basis points, and cut, cut, cut, and would re-start QE. But none of it happened — and might not happen this year. Here’s why, … Read more
by Charles Hugh-Smith The rest of us eat our losses, either all at once or in bitter bites as we trudge through the financial wasteland left after bubbles burst. The news that the Federal Reserve Casino is giving away free gambling chips triggered a frenzied rush that trampled the bears, including poor Yogi: There’s just … Read more
Junk. Surprised by how high this is valued considering revenue is not even half a billion. Fuck, Wayfair took in more money when it was still called “racks and stands.” No real competitive advantage either. I personally like using Slack but this is ridiculous. Mark
by visualcapitalist Since its inception, the stock market has been one of the most powerful and consistent sources of wealth creation available. Although stocks see more volatility than other assets, they have also averaged a real return of 6.7% per year between 1925 and 2014, compared to just 2.7% for bonds and 0.5% for cash. And … Read more
Authored by Raul Ilargi Meijer via The Automatic Earth blog, I intentionally start writing this mere minutes away from Fed chair Jay Powell’s latest comments. Intentionally, because the importance ascribed to those comments only means we have gotten so far removed from what capitalism and free markets are supposed to be about, that it’s pathetic. The comments … Read more
by TFittonJW Heavy lifting by Judicial Watch gets huge results — again. A giant mailing by LA County and other actions required by the settlement should result in the immediate and ongoing clean up of the rolls in California. We initially thought the process would include up to 1.56 millions names — it is now … Read more
Bill Murphy interviewed on Reluctant Preppers Overt smackdowns of gold as it persistently and repeatedly tests a 6-year resistance & support limit are becoming more obvious, more desperate, and eventually will be proven futile, according to veteran gold market watchdog Bill Murphy of the Gold Antitrust Action Committee (GATA.org.) Murphy returns to Reluctant Peppers to contend that … Read more
LATE-STAGE SOCIALISM: Venezuela Is Now Awash in U.S. Dollars. We used to catch only rare glimpses of them in public. A waiter willing to risk jail time might be persuaded to accept them for the right price. Amateur tourists would flash them at the airport. Shady street hawkers made offers for them under their breath. Now, … Read more
via twitchy: Cloward, Piven and the Labour Party smile. h/t ED
via thedailybeast: If one of these two quarrels is going to metastasize into something ugly, it’ll be Sanders, who remains apart from the party whose nomination he’s running for. Donald Trump told his rapt audience in Orlando Tuesday night that the Democrats “want to destroy you.” The next day, the Democrats started doing some destroying, all right. … Read more
Josh Sigurdson reports on the recent claims by Google CEO Sundar Pichai that YouTube will eliminate about 99% of what they consider “bad” in the near future. He claimed that he just cannot meet the demand of 100% of bad content being erased as if people are begging for YouTube to erase nearly everything they … Read more
by Dave Kranzler of Investment Research Dynamics “The latest University of Michigan consumer confidence report noted that its index tracking those who think it’s a good time to buy a home has fallen by a hefty eight points in the past two months even as mortgage rates have dropped.” – Danielle DiMartino Booth, “The Fed Can’t Help Housing Or … Read more
by Raúl Ilargi Meijer Gustave Courbet The village maidens 1852 I intentionally start writing this mere minutes away from Fed chair Jay Powell’s latest comments. Intentionally, because the importance ascribed to those comments only means we have gotten so far removed from what capitalism and free markets are supposed to be about, that it’s pathetic. The comments … Read more
by badpauly These are the latest Schedule 13D forms filed by activist investors in the last 7 days. Activist investors are investors that make an investment with the intention of influencing management in some way. There is evidence that following activist investors into investments can generate excess returns. Schedule 13G forms, in contrast, are filed … Read more