US Mortgage Applications Drop To Lowest Level Since 1997 (And The Fed Still Hasn’t Unwound Its Enormous Balance Sheet!)

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by confoundedinterest17 Mortgage application volume dropped and remained at a multi-decade low last week (back to 1997), led by an 8 percent decline in refinance applications, which now make up only 30 percent of all applications. Purchase applications have declined in eight of the last nine weeks, as demand continues to shrink due to higher rates and a weaker economic … Read more

Are Stocks About to Crash?

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By Graham Summers, MBA As I warned yesterday, the next crisis is just around the corner. By quick way of review… 1) The Fed takes its cues on where rates need to be from the yield on the 2-Year U.S. Treasury. 2) Throughout the first half of 2022, the yield on the 2-Year U.S. Treasury … Read more

Clown World: Californians Brace for Blackouts at Same Time Democrats Begin Process of FORCING Citizens to Drive Electric Cars. Now State Urges Avoiding Charging Electric Cars

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If you live in California you might want to trade in your electric car for a gas guzzler. The state’s power grid is in grave danger of failing. The California Independent System Operator says a heat wave could result in power cutbacks. That’s means turning thermostats up to 78 degrees and washing dishes by hand. … Read more

Nearly 300 southern Illinoisans have to give up their firearms after gun rights revoked

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Aug. 25—Illinois State Police announced Wednesday that it has forced nearly 300 people in southern Illinois to give up ownership of their firearms after they had their firearms rights revoked. As part of a “firearms enforcement blitz” from June 16 to July 31 in 41 southern Illinois counties, including St. Clair, Madison, Monroe, Clinton and … Read more

Syria accuses Israel of attacking Aleppo International airport

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https://t.co/a4Zq7iceGX — Richard Medhurst (@richimedhurst) August 31, 2022 Breaking News: For the first time, Israel targets Aleppo International Airport and Damascus International airport in the same day, one hour apart. pic.twitter.com/PLlMo7Z7Xl — The Cradle (@TheCradleMedia) August 31, 2022 Syrian air defenses intercepted “a number” of Israeli missiles on Wednesday evening but several broke through and … Read more

Guaranteed basic income program begins for 1,000 Los Angeles County residents, providing $1K a month

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LOS ANGELES (CNS) — Los Angeles County’s guaranteed basic income program is underway, with 1,000 residents now receiving $1,000 a month for the next three years, officials said Tuesday. The recipients were chosen randomly from more than 180,000 people who applied for the program. https://abc7.com/guaranteed-basic-income-los-angeles-county-residents-1/12183376/

McDonald’s US president says California’s newly created fast-food council that could raise minimum wage to $22 at its restaurants ‘hurts everyone’

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McDonald’s US president said California’s fast-food council is unfair and “hurts everyone.” The fast-food council would be able to raise minimum wage up to $22 at McDonald’s and other chains. Joe Erlinger said increasing wages is “not bad,” but warned it could increase the cost of fast-food. In a letter published on Wednesday, Joe Erlinger, the president … Read more

Twitter suspended me for telling the truth

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Via Libs of TikTok And the media is doing everything they can to convince Twitter to make it permanent. As you may have heard, I’m currently suspended from Twitter for 7 days after I released a damning recording of Children’s National Hospital staff admitting to performing gender-affirming hysterectomies on minors. Of course, the suspension came shortly after … Read more

Iran to Do International Trade in Crypto

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by Chris Black This could be the beginning of something. I don’t know. We’ll have to see who Iran is doing this trade with. If it’s just third world countries, that doesn’t really mean very much. RT: Tehran has officially approved the use of cryptocurrency for imports instead of the US dollar and the euro, … Read more

If you believe Trump was “caught” with classified material, You guys are clueless!

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by Chris Black Is this the fifth or sixth impeachment? Just a reminder: it is impossible legally speaking for the president to steal classified documents. Also, presidents regularly take stores of documents to work on their memoirs. Wall Street Journal: The Justice Department said “efforts were likely taken to obstruct the government’s investigation” of documents … Read more

It’s getting really bad: Reported consumer inflation is now well into double digits in large parts of Europe and the electricity market is no longer functioning

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https://twitter.com/WallStreetSilv/status/1565052919296454656 The pace at which inflation increases in UK is worsening Goldman Sachs is now forecasting 22.4% by next year The Bank of England has completely lost the control of inflation as the country is a net importer for all kind of goods pic.twitter.com/RmxYgu6UEs — Alessio (@AlessioTMAD) August 31, 2022 ** EU ELECTRICITY MARKET NO … Read more

Brittany Brown: “No running water in Jackson. The heat index is 102 degrees. Schools and universities are closed. No way to cook, clean, bathe. This is the capital city, and the biggest city in Mississippi.”

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https://twitter.com/isthatbritt/status/1564657685743783937 https://twitter.com/MichaelCush8/status/1564684470975963138 https://twitter.com/n_p_williamson/status/1564686062819151872 I am in Jackson at least once a week. The city has been democrat led for at least 30 years. — Shannon (@ShanToTheTop) August 31, 2022 The Jackson City Council, which is responsible for Jackson public works (including water). Democrat Mayor, 7 Democrat and 1 Republican members. pic.twitter.com/oagq3wZOcZ — Blank (@ThomBlank) August … Read more