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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 in credit card debt during the pandemic, but that has all come crashing down. The Federal … Read more
https://twitter.com/WallStreetSilv/status/1535407950575157250 h/t dr0id
(Washington Examiner) EXCLUSIVE from AUSTIN, Texas — U.S. Border Patrol agents stationed along the southern border have nothing left in the tank. For months, agents have warned that morale within the ranks of the federal law enforcement organization is sinking, but the last shreds of spirit have since been dashed by outright animosity from the … Read more
by Maxcr1
by FarrisAT Since we here are focused on equity performance and are (mostly) hoping the value of our investments rise, I’d like to remind everyone that the Federal Reserve had multiple members actively trading equities while formulating extremely bullish policies in March 2020-September 2021. Kaplan and Rosengren sold their individual stocks in September 2021. Some … Read more
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 reached his conclusion after conversing since last fall with LaMDA, Google’s artificially intelligent chatbot generator, … Read more
by Michael Times sure have changed. When we talk about immigration, we tend to envision vast hordes of impoverished immigrants that are desperate to find a way to cross our southern border. But did you know that large numbers of Americans are actually going the opposite direction? Because the cost of living in California has … Read more
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 being wiped out in the process. Unfortunately, our system is not really designed to handle … Read more
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 to bring down inflation, but that they will be enough to bring down the economy! … Read more
The yen’s current slide may spark turmoil on the scale of the 1997 Asian Financial Crisis if it declines as far as 150 per dollar, according to veteran economist Jim O’Neill https://t.co/o9VOhYtAM6 via @markets — Alessio (@AlessioTMAD) June 9, 2022 Currently the yen to dollar is at 134yen to 1 dollar. Worst it’s been in … Read more
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 president in history and will be 82 by the time his first, hopefully only, term … Read more
by: Stefan Gleason Friday’s Consumer Price Index Report sent shockwaves through financial markets. The 8.6% annual reading was yet another new multi-decade high – dealing a body blow to analysts who believed inflation pressures had peaked. Investors now fear the Federal Reserve will have to undertake more aggressive tightening actions. Both bonds and stocks tumbled … Read more
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, as year-on-year industrial production fell by nearly 13 percent in March 1975 while the yearly … Read more
by Chris Black Vladimir Putin shits in a suitcase and carries it around with him to hide the fact that he has Parkinson’s and three types of cancer and only 6 months to live. Source: (((Rebekah Koffler))) of the US Defense Intelligence Agency. Putin reportedly carries poop case when he travels outside Moscow to hide … Read more
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
How many coincidences until it’s mathematically impossible? GREEN BAY, Wis. (NBC 26) — A fire occurred Tuesday evening at the JBS meat packing plant in Green Bay. https://www.nbc26.com/news/local-news/fire-at-jbs-meat-packing-plant-in-green-bay-causes-nearly-30-000-in-damage h/t tortugavelozzzz
The National Rifle Association has responded to the gun control deal that just passed through the senate, with the help of ten Republicans. The package includes plans to assist states in creating and implementing red flag laws, prohibit those convicted of domestic violence from being able to own guns, and listing more gun sellers as … Read more
High-yield CDX…whoa! pic.twitter.com/6GlKLWlI6s — Randy Woodward (@TheBondFreak) June 13, 2022 Consumers are coming out of lockdowns and want to do things. However, with 8.6% inflation, even basic necessities are becoming unaffordable. Now, consumers are turning to credit card debt which soared 20% last month alone. Will this be the credit card debt version of 2008? … Read more
(CNSNews.com) – Rep. Jim Jordan (R-Ohio) said Sunday that the reason why House Speaker Nancy Pelosi (D-Calif.) didn’t call in the National Guard on Jan. 6 is because of the Democrats’ position on defunding the police. Jordan said that last week’s prime time Jan. 6 congressional hearing didn’t explain why the U.S Capitol was so vulnerable … Read more