Misery! PCE Deflator Rises To 6.8% YoY, Highest In 40 Years As Rents, Food, Gasoline Explode In Price (Taylor Rule Suggests Fed O/N Rate Of 17.78%)

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by confoundedinterest17 The US economy is like the Stephen King story “Misery.” Except that it is Joe Biden breaking the legs of the consumer with his inflationary policies instead of Kathy Bates breaking James Caan’s legs to prevent him from leaving. US inflation, based on June’s Personal Consumption Expenditures (PCE) deflator, rose to its highest level … Read more

Italian farmers also rise up in Piemonte: “We are not slaves, we are farmers!” Then in the evening party with many citizens present, food, beer, music and blessing of the tractors.

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Italian farmers also rise up in Piemonte: "We are not slaves, we are farmers!" Then in the evening party with many citizens present, food, beer, music and blessing of the tractors. pic.twitter.com/qdV9H3unqD — RadioGenoa (@RadioGenoa) July 29, 2022

House Passes Ban On Semi-Automatic Guns…Jim Jordan Warns ‘They Are Coming For Your Guns’ [VIDEO]

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(100PercentFedUp-dot-com) On Friday, the House of Representatives revived a ban on semi-automatic guns. The restrictions were first put into place in 1994, on both selling and manufacturing the guns. But the restriction was lifted ten years later when the political support in congress for the ban waned. Jim Jordan said “They are coming for your … Read more

Argentina’s Economy Collapses

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by Martin Armstrong Argentina’s economy has collapsed. Around 57% of adults in the nation are currently unemployed. The Socialist nation has programs in place to compensate, costing the country around $6 million daily. However, socialism no longer works when you run out of other people’s money. July’s inflation report showed an uptick over 60%. Harry Lorenzo, … Read more

When the #Fed uses the Fed Funds Rate to tighten, they put the strain on Main Street. When they use the balance sheet, they put the strain on Wall Street. Guess which one they have been using?

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So true David! The real tightening hasn't even begun: https://t.co/Pz753Ei7YJ — Caleb Franzen (@CalebFranzen) July 29, 2022 Fed Fund Rate: Jan 22 = 0.25%Mar +25bps = 0.5%May +50bps = 1.0%Jun +75bps = 1.75%Jul +75bps = 2.5% Expect 3.50% by end-22 — Tanveer Anwar (@faujian35) July 28, 2022  

New Zealand Parliament to vote to change country’s name

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New Zealand may be getting an official name change in our lifetime. The New Zealand Parliament might change the country’s name to Aotearoa, which is Māori for “long white cloud,” and restore cities and towns to their original Māori names. Shedding the island’s colonial names could sustainably boost its tourism industry. When historically marginalized communities … Read more

China announces military exercise opposite Taiwan

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BEIJING — China said it was conducting military exercises Saturday off its coast opposite Taiwan after warning Speaker Nancy Pelosi of the U.S. House of Representatives to scrap possible plans to visit the island democracy, which Beijing claims as part of its territory. The ruling Communist Party’s military wing, the People’s Liberation Army, was conducting “live-fire … Read more

This was the fastest and biggest bear market rally since January 2022. Maximum overbought. The market is ready for a big rug pull.

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https://twitter.com/MFHoz/status/1553365879211048960 https://twitter.com/WallStreetSilv/status/1553342141413306368 https://twitter.com/WallStreetSilv/status/1553183657061392384 "Analytically indefensible" and "inexplicable" is how former Treasury Secretary @LHSummers describes #Fed Chair Powell's unscripted remark on the neutral rateI suspect most economists were very puzzled by Powell's remark, including me (this from Wednesdayhttps://t.co/SE6kcgfmMg pic.twitter.com/5GMqYyr9Je — Mohamed A. El-Erian (@elerianm) July 29, 2022 Restating our views… this is why we have been … Read more

Mainland China HY worst in Asia, the public opinion must be distracted in some ways. This week China abandoned their 2022 growth goal.

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Mainland China HY worst in Asia, the public opinion must be distracted in some ways pic.twitter.com/Q06CqfyfJB — Alessio (@AlessioTMAD) July 29, 2022 This week China abandoned their 2022 growth goal. Now they are going to "Try their best". Sounds like a kindergarten activity.https://t.co/JjHrtpsDOi pic.twitter.com/v8E3BYXawF — Mac10 (@SuburbanDrone) July 29, 2022

While already waging a war on Russia, the US empire is also really trying to start a war with China…

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While already waging a war on Russia, the US empire is also really trying to start a war with China: The US military is considering sending *fighter jets* to accompany a top US official as she meets with secessionists in China's province of Taiwan, who are armed with US weapons. https://t.co/WV1azGMEdR — Ben Norton (@BenjaminNorton) … Read more

She is now en route to Asia. Tail is SPAR19. PELOSI’S plane has left the US mainland after a short stop at the Travis Base, & just arrived at a cruise alt of 32,000 ft.

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https://twitter.com/VSoien/status/1553336379958067200 Something to Watch .. https://t.co/Ij6qb62HZY — Willem Middelkoop (@wmiddelkoop) July 30, 2022 https://twitter.com/ZaidZamanHamid/status/1553325822634860544 ⚡️The plane with Nancy Pelosi took off from Andrews Air Force Base. The speaker plans to visit the island of Taiwan. To protect her, the US Navy put forward a strike group led by the aircraft carrier "Ronald Reagan". pic.twitter.com/U1vejB1dlv — … Read more

Consumer Sentiment Remains Very Depressed (University of Michigan Sentiment Index Rises Slightly To A Depressed 51.5 While Buying Conditions For Housing Rose Slightly To A Depressed 47.0)

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by confoundedinterest17 “A recession is two quarters in a row of negative growth.” — President Clinton, Dec. 19, 2000 My former colleague at Deutsche Bank, Joe Carson, said recently that the US economy is not in a recession, but corporate profits are in a recession. While I cling to the traditional definition of recession (two consecutive quarters … Read more

Government “Stimulus” Schemes Fail Because Demand Does Not Create Supply

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by Frank Shostak via Mises By popular thinking, the key driver of economic growth is the increase in total demand for goods and services. It is also held that overall output increases by a multiple of the increase in expenditure by government, consumers and businesses. It is not surprising, then, that most commentators believe that through fiscal and … Read more