Credit Card Debt on the Rise

by Martin Armstrong The various handouts and moratoriums during the pandemic drove the personal savings rate down to World War II levels. Everything was closed – there weren’t many opportunities to spend. US consumers paid off a record $83 billion …

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SKYNET HAS BECOME SELF-AWARE…

Google Engineer On Leave After He Claims AI Program Has Gone Sentient. A Google engineer is speaking out since the company placed him on administrative leave after he told his bosses an artificial intelligence program he was working with is now sentient. Blake Lemoine …

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A Nightmare On Wall Street

by Michael This is bad.  This is really, really bad.  Investors loved the ride up, but now the Federal Reserve is helping to destroy the bubble that it once so eagerly created, and trillions of dollars in paper wealth is …

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This is how economy seizes in real time…

by laflammaster https://ycharts.com/indicators/2_year_treasury_rate https://ycharts.com/indicators/1_year_treasury_rate People are worried that to bring down #inflation the #Fed will raise interest rates too much and bring down the #economy too. What they should be worried about is that rate hikes will not be enough …

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The Oldest Congress in US History

by Martin Armstrong The 117th Congress is the oldest in American history. Former President Trump attempted to enact term limits. However, he failed to gain the two-thirds majority in either chamber needed to amend the Constitution. Joe Biden is the oldest …

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What Is Stagflation and What Causes It?

by Frank Shostak via Mises The occurrence of stagflation is associated with a situation of general strengthening in the momentum of prices while at the same time the pace of economic activity is declining. A famous stagflation episode occurred during the 1974û75 period, …

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Same shit, different day…

Rep.⁦ @JamaalBowmanNY⁩ warns if Republicans retake Congress, Biden will be “impeached” & “white nationalists” may launch a “civil war” pic.twitter.com/JpNUjXmzU5 — Tom Elliott (@tomselliott) June 11, 2022 h/t CFP