ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Jun 28 18:17

Supreme Court Says You Can’t Sue the Corporation that Wrongly Marked You A Terrorist

By Cindy Cohn

In a 5-4 decision, the Supreme Court late last week barred the courthouse door to thousands of people who were wrongly marked as “potential terrorists” by credit giant TransUnion. The Court’s analysis of their “standing” —whether they were sufficiently injured to file a lawsuit—reflects a naïve view of the increasingly powerful role that personal data, and the private corporations that harvest and monetize it, play in everyday life. It also threatens Congressional efforts to protect our privacy and other intangible rights from predation by Facebook, Google and other tech giants...

Jun 28 14:17

Are We at the Inception of an Inflationary Depression?

Well, for the world to have reached such a precarious situation as I have painted above, the problems have to be deep-rooted, fundamental, and long-standing. That is the case, and as Mises said during 1951, the origins can predictably be traced to the Central Banks.

Jun 28 06:59

UK High Tax on Meat and Dairy Products Coming - Mass Food Shortages, Food Riots

Jun 28 05:50

Gold Searching for the Bottom

Jun 27 11:28

One nation under GREED…

Everywhere you go, everything you do, and every which way you look, we’re getting swindled, cheated, conned, robbed, raided, pickpocketed, mugged, deceived, defrauded, double-crossed and fleeced by governmental and corporate shareholders of the American police state out to make a profit at taxpayer expense. -- Unfortunately, in the 200-plus years since we established our own government, we’ve let bankers, turncoats and number-crunching bureaucrats muddy the waters and pilfer the accounts to such an extent that we’re back where we started.

Jun 27 07:17

How to spot a fake Amazon review

Jun 27 06:16

Can Infrastructure Bill Be Put Back On Track After Biden Blunder?

The White House was trying to put Joe Biden’s bipartisan infrastructure deal back on track on Saturday, after Republican senators balked at his surprise demand to pair the nearly $1trillion plan with an even bigger investment package.

One senior Republican said the president had made him and others look like “fucking idiots” when he said on Thursday he would not sign a bill unless it was accompanied by trillions more in a separate measure covering Democratic priorities and passed with only Democratic votes.

Tensions appeared to have cooled by Saturday, after White House negotiators Steve Ricchetti and Louisa Terrell assured senators Biden remained enthusiastic about the bipartisan deal, for which they said the president would seek to make a forceful public case.

Jun 27 05:06

Did the Fed Really Kill Inflation Last Week?

Jun 26 16:35

Extreme Inflation Guaranteed by Fed

Jun 26 10:19

Do You Want To Know The Truth? Infrastructure All Over America Is Crumbling At A Frightening Pace

The great tragedy that we just witnessed in Florida has shocked the entire nation, and it should be a major wake up call for all of us.  Our nation really is literally falling apart right in front of our eyes.  Just a few short months ago, at least 151 people died during a catastrophic failure of the power grid in Texas.  Thousands of water pipes burst, and billions of dollars worth of damage was done.  But most people that don’t live in Texas soon forgot all about that, and now we have another spectacular example of the rapid deterioration of the once beautiful cities that previous generations handed down to us.  According to the latest report that I have seen, nearly 100 people are still missing, and officials say that they are hearing “sounds like banging” coming from the wreckage…

Jun 26 08:59

The Fed Can't Answer the Simplest Questions

Jun 26 05:32

Biden's Real Crime Against The Economy

I try to keep politics out of my economic analyses, and my approach is non-partisan. But sometimes I can’t avoid it because political policies can have significant economic impacts. Today is one of those times.

One of Joe Biden’s first acts as President was to kill construction of the Keystone XL pipeline. This is a pipeline that would bring oil from the tar sands of Alberta, Canada to the Midwest United States. From there it would be moved through other pipelines or refined and distributed to gas stations and industrial users in America.

Jun 26 05:29

America's Social Order Is Unraveling

What kind of nation boasts a record-high stock market and an unraveling social order? Answer: a failed nation, a nation that has substituted artifice for realism for far too long, a nation that now depends on illusory phantoms of capital, prosperity and democracy to prop up a crumbling facade of "wealth" that the populace now understands is largely in the hands of a few families and corporations, most of which pay little to support the citizenry they dominate politically and financially.

The social order sounds abstract, but it is all too real. The social order has two primary components: social cohesion, the glue of common purpose and shared sacrifice binding the social order, and the social contract, the implicit contract between the ruling elite, the state (government) and commoners (the middle class, the working poor and state dependents) that their labor, taxes and sacrifices will nourish a society with a level playing field, broad-based opportunity and security.

Jun 26 05:28

Below The Market's Calm Surface, Sheer Panic As Skew Soars To All Time High

With last week's post-Fed tantrum seemingly a distant memory, spoos just hit a new all time high at 4,275 as low realized volatility helped push the VIX near new Covid-era lows...

... if not the lowest level. Indeed, with the VIX at 16.0, and volatility risk premium elevated, Goldman notes that short-dated hedges are not cheap - especially relative to historically low implied volatility for other key markets (1M SPX implied vol is 43rd percentile vs. the last 5 years, vs. HYG, EEM, and HSCEI all below 15th percentile). As a result, Goldman also sees "heightened potential for realized volatility to approach June’s lows, leaving the VIX with moderate downside."

Jun 25 14:56

Smart Meters “quietly broadcasting data” That May Reveal What Infrastructure Was Protected During Texas Snowstorm

By B.N. Frank

American opposition to utility “Smart” Meters – electric, gas, and water – has been ongoing due to safety and privacy concerns. Because “Smart” Meters are 2-way wireless transmitting, they allow utility companies to collect customer usage data 24/7 which they can use to try to sell more products and services to customers and/or sell the data to 3rd parties to do whatever they want with it.

“Smart” Meters also allow them to remotely control services as well as ration customer energy use. Utilities can’t do this with traditional 1-way analog meters. Because of the 2-way wireless transmitting feature, “Smart” Meters are also at a high risk for cybersecurity issues. A hacker recently used the vulnerability of smart “Smart” Meters to learn more about what happened during the Texas snowstorm...

Jun 25 14:30

Producer Price Inflation surges in Spain

Jun 25 11:30

GET READY FOR CHAOS IN CONTAINER SHIPPING.

Jun 25 10:35

“They've Been Doing It Forever”

The man’s son had been vomiting, feeling nauseous, and experiencing bad heartburn for several weeks. The child’s pediatrician eventually made the call: It was time to take the boy to the ER.

The father, who requested anonymity, wasn’t the sort of person who went to the emergency room on a whim. He was an internal medicine physician after all, so he tried to avoid ER visits as much as possible. But in late 2019, he listened to the boy’s doctor and took his son to the ER near where they lived in Florida, then took him a second time when he once again couldn’t hold down food.

The decision ultimately seemed to make sense. Tests found the boy was suffering from a newly onset auto-immune disorder. But the family’s insurer, UnitedHealthcare, refused to pay the bills, which totaled $7,000 — $4,000 of which the hospital’s physician services company has since demanded from the family.

Jun 25 09:50

Panasonic Has Sold Its Entire Stake In Tesla

Panasonic has officially sold all of its shares in Tesla.

The Japanese giant offloaded its entire $3.6 billion stake in the name last year, according to a new report from Nikkei.

Panasonic said it would continue supplying Tesla with batteries: "Our relationship with Tesla as a business partner will not change going forward," a Panasonic executive told Nikkei.

Jun 25 09:49

Bolivia Moves Closer To Gold Confiscation With Latest Law Blocking Bullion Sales/Exports

What is Bolivia worried about?

Perhaps the 25,000% hyperinflationary evaporation of the peso in the '80s has left a deep scarring on the South American countries lawmakers.

In 2018, The Bolivian Central Bank (BCB) took the administrative measure to suspend the sale of dollars in order to maintain its peg to the dollar.

Jun 25 09:40

As The Pandemic Recedes, Millions Of Workers Are Saying 'I Quit'

Jonathan Caballero made a startling discovery last year. At 27, his hair was thinning. The software developer realized that life was passing by too quickly as he was hunkered down at home in Hyattsville, Md.

There was so much to do, so many places to see. Caballero envisioned a life in which he might end a workday with a swim instead of a long drive home. So when his employer began calling people back to the office part time, he balked at the 45-minute commute. He started looking for a job with better remote work options and quickly landed multiple offers.

"I think the pandemic has changed my mindset in a way, like I really value my time now," Caballero says.

Jun 25 09:15

Biden’s $2.3 Trillion Infrastructure Capitulation. Stripped Down to $579 Billion

For weeks I’ve been predicting Biden would capitulate to the Republican-McConnell proposals on infrastructure, including funding it without taxing corps-investors-wealthy. Today, June 24, he did just that, after paring down his original $2.3T proposal for Infrastructure spending step by step. Biden reportedly now agrees to only $579B in new infrastructure spending. What’s not revealed, however, is how much of this total is being earmarked in separate bills that have been moving toward passage that subsidize manufacturing, tech corps, and chip-auto companies. The latter, already agreed to is $52B. Another $110B is in the so-called ‘Endless Frontier Act’, subsidizing US tech development in competition with China. Another unknown amount will no doubt come from Biden’s original $400B targeting manufacturing in his original Infrastructure (aka American Jobs Act) proposal of $2.3T when initially announced months ago.

Jun 25 08:18

Welcome To The “Pre-Taper” Tantrum

Jun 25 07:50

Nasdaq: Its probably nothing

Jun 24 09:14

Doug Casey: Shortages Are Here

Jun 24 07:43

The Fed’s Inflation Gamble Continues

Jun 24 07:43

The Never-Ending Rally

Jun 24 07:37

Millionaire Club Grows Despite Pandemic

Jun 24 07:05

Biden Backtracks From Unity Using Infrastructure Bill As Excuse

President Joe Biden held talks on Monday with two key Democratic senators about a bipartisan infrastructure plan and told them he was encouraged by the proposal but is still unsure of how to pay for the bill.

A bipartisan infrastructure plan costing just above $1 trillion, only about a fourth of what Biden initially proposed, has been gaining support in the U.S. Senate, but disputes circulate over how it should be funded.

Biden met separately with Senators Joe Manchin and Kyrsten Sinema and "told them he was encouraged by what has taken shape but that he still has questions about the policy as well as the means for financing the bipartisan group’s proposal," the White House announced.

Jun 23 13:34

The Stock Buybacks Are Coming

Jun 23 13:21

Is NFL COVID “Vaccine” Policy Endangering Team Members?

By Neenah Payne

Is the National Football League endangering the lives of its players by pushing the COVID shots? There is a clear two-tier system of rewards and penalties to push compliance, but the NFL appears to be ignoring 5 key facts...

Jun 23 12:41

US economy will get MONKEYHAMMERED by insane policies like free universal rent, now announced in California

Both the government of California and most of its left-leaning residents now believe that entire economies can somehow continue to function when no one works but everyone is handed free money by a bankrupt government. These policies will, of course, end catastrophically, with a near-total collapse of the California economy once the dollar debt bomb implodes (which may only be months or years away).

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