investmentwatchblog--2020-12-18--Investors in breached software firm SolarWinds traded $280 million in stock days before hack was rev

Investors in breached software firm SolarWinds traded $280 million in stock days before hack was revealed

On Dec. 8 , the cybersecurity firm FireEye announced that hackers had broken into its servers and stolen sensitive security-testing @ @ @ @ @ breach they ’ d discovered in recent weeks .
FireEye determined by Friday that SolarWinds @ @ @ @ @ and contacted the company shortly after , according to people familiar with the matter .

On Dec. 8, the cybersecurity firm FireEye announced that hackers had broken into its servers and stolen sensitive security-testing tools as part of a breach they’d discovered in recent weeks. FireEye determined by Friday that SolarWinds’ updates had been corrupted and contacted the company shortly after, according to people familiar with the matter.
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investmentwatchblog--2020-12-18--Waiting For The Other Shoe To Drop…

Waiting For The Other Shoe To Drop…

Do you feel like another major crisis could erupt at any moment ?
If so , you are certainly not alone .
Here in 2020 , it has just been one thing after another , and we have come to expect the unexpected .
Right now , so many people that I am hearing from are anticipating that more big trouble is just around the corner , but as we wait for “ the other shoe to drop ” , economic conditions all over the United States continue to rapidly deteriorate .
For example , on Thursday we learned that @ @ @ @ @ @ @ benefits last week was the highest in four months… The US job market continues to suffer , and Thursday brought more bad news .
Another 885,000 people filed for first-time unemployment benefits last week — an increase from the week prior and higher than the 800,000 claims that economists were expecting .
The latest figures , which are adjusted for seasonal factors and reported by the Labor Department , are particularly grim since last week ’ s numbers were revised up to 862,000 .
And even before the revision , that week had @ @ @ @ @ @ @ This isn ’ t how the numbers were supposed to be trending .
For four of the past five weeks we have seen the number of new unemployment claims go up , and experts are warning that we should expect things to get even worse as we head into winter… Could we soon see more than a million Americans filing new claims for unemployment each week like we did earlier in the pandemic ?
To put this in perspective , the previous all-time record prior to 2020 was just 695,000 , and that @ @ @ @ @ @ @ back in 1982 .
We absolutely shattered that record once COVID-19 started spreading widely in the United States , and we have been above that old record every single week throughout this entire pandemic .
Just think about that .
We are seeing numbers that we have never seen before in all of U.S. history every single week , and now they are starting to climb higher once again thanks to the new lockdowns .
In addition , the number of Americans that are collecting unemployment aid from two major federal programs is @ @ @ @ @ @ @ , the “ recovery ” was supposed to be in full gear , but instead major companies keep laying off more workers at an astounding pace .
For example , on Thursday we learned that Coca-Cola will be eliminating 12 percent of their entire U.S. workforce… Coca-Cola wouldn ’ t be doing this if the U.S. economy was about “ to turn a corner ” .
All of these big corporations that are letting workers go can see what is about to happen , and they are slimming their payrolls in an attempt @ @ @ @ @ @ @ .
Meanwhile , Congress is getting close to approving yet another “ stimulus package ” , and the Federal Reserve is promising to do whatever it takes to support the financial markets .
Trillions upon trillions of dollars are being slammed into the system , and as a result M2 is up more than 60 percent so far this year .
In other words , our money supply has been increasing at an almost vertical rate in 2020 .
Back in November I included a chart in an article that I wrote which @ @ @ @ @ @ @ .
If you are not one of my regular readers , you can find that article right here .
For many years , many of us have been warning that hyperinflation would arrive someday .
But now we can stop warning , because the process has actually started .
Other industrialized nations have also been flooding their systems with new money , and this is really starting to drive up food prices all over the globe .
The following comes from Zero Hedge… The reason this has suddenly become a hot topic is @ @ @ @ @ @ @ we will spare a discussion here of why the CPI is purposefully distorted to stay as low as possible – readers can catch up here , here and here ) , food inflation has been on a tear in recent months .
In fact , it has gotten so high that earlier this week Goldman published a report looking at “ The Recent Spike In Food Inflation ” , in which it noted that “ in recent months , inflation has risen and surprised to the upside across a number of major EM @ @ @ @ @ @ @ Africa , India , Brazil andRussia ) .
” According to Goldman , one of the main drivers of these increases has been higher food inflation , which has coincided with a sharp increase in the price of some key agricultural commodities ( e.g .
grains , oils and soybeans ) .
” Sadly , this is just the beginning .
Eventually , the food riots which have already started on the other side of the planet will start happening in the western world too .
And as hungry people become increasingly desperate @ @ @ @ @ @ @ start putting armed guards on food trucks .
We aren ’ t quite there yet , thankfully , but things are really starting to get crazy out there .
A few days ago I went to the supermarket again , and I really tried to economize and get things that were on sale , but I still spent more than 260 dollars on one cart of food .
As the cost of living continues to soar into the stratosphere , many American families are going to discover that they are no longer able @ @ @ @ @ @ @ .
And once millions upon millions of Americans get desperately hungry , that is when we will see absolutely insane economic riots in this country .
All of these things are coming , and we definitely will not have to wait very long at all for “ the other shoe to drop ” .

by Michael Snyder
Do you feel like another major crisis could erupt at any moment? If so, you are certainly not alone. Here in 2020, it has just been one thing after another, and we have come to expect the unexpected. Right now, so many people that I am hearing from are anticipating that more big trouble is just around the corner, but as we wait for “the other shoe to drop”, economic conditions all over the United States continue to rapidly deteriorate. For example, on Thursday we learned that the number of initial claims for unemployment benefits last week was the highest in four months…
The US job market continues to suffer, and Thursday brought more bad news. Another 885,000 people filed for first-time unemployment benefits last week — an increase from the week prior and higher than the 800,000 claims that economists were expecting. The latest figures, which are adjusted for seasonal factors and reported by the Labor Department, are particularly grim since last week’s numbers were revised up to 862,000. And even before the revision, that week had been the highest level since mid-September.
This isn’t how the numbers were supposed to be trending.
For four of the past five weeks we have seen the number of new unemployment claims go up, and experts are warning that we should expect things to get even worse as we head into winter…
‘US weekly jobless claims continue to head in the wrong direction,” Edward Moya, an analyst at the currency trading firm OANDA, wrote in a research note. ‘The labor market outlook is bleak as the winter wave of the virus is going to lead to more shutdowns.”
Could we soon see more than a million Americans filing new claims for unemployment each week like we did earlier in the pandemic?
To put this in perspective, the previous all-time record prior to 2020 was just 695,000, and that old record was set all the way back in 1982.
We absolutely shattered that record once COVID-19 started spreading widely in the United States, and we have been above that old record every single week throughout this entire pandemic.
Just think about that.
We are seeing numbers that we have never seen before in all of U.S. history every single week, and now they are starting to climb higher once again thanks to the new lockdowns.
In addition, the number of Americans that are collecting unemployment aid from two major federal programs is also on the rise again…
The number of jobless people who are collecting aid from one of the two federal extended-benefit programs – the Pandemic Unemployment Assistance program, which offers coverage to gig workers and others who don´t qualify for traditional benefits – surged to 9.2 million from 8.6 million for the week that ended Nov. 28. But the number of people receiving aid under the second program – the Pandemic Emergency Unemployment Compensation program, which provides 13 weeks of federal benefits to people who have exhausted their state aid – also rose from 4.5 million to 4.8 million.
By now, the “recovery” was supposed to be in full gear, but instead major companies keep laying off more workers at an astounding pace.
For example, on Thursday we learned that Coca-Cola will be eliminating 12 percent of their entire U.S. workforce…
Coca-Cola is planning to cut 2,200 jobs, including 1,200 in the United States, as it faces declining sales during the pandemic. In the United States, where there were about 10,400 employees at the end of last year, the cuts represent roughly 12% of the workforce. In Atlanta, where the company is headquartered, about 500 jobs are being eliminated, the company said Thursday.
Coca-Cola wouldn’t be doing this if the U.S. economy was about “to turn a corner”.
All of these big corporations that are letting workers go can see what is about to happen, and they are slimming their payrolls in an attempt to make it through the coming storm.
Meanwhile, Congress is getting close to approving yet another “stimulus package”, and the Federal Reserve is promising to do whatever it takes to support the financial markets.
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Trillions upon trillions of dollars are being slammed into the system, and as a result M2 is up more than 60 percent so far this year.
In other words, our money supply has been increasing at an almost vertical rate in 2020.
Back in November I included a chart in an article that I wrote which shows exactly what I am talking about. If you are not one of my regular readers, you can find that article right here.
For many years, many of us have been warning that hyperinflation would arrive someday.
But now we can stop warning, because the process has actually started.
Other industrialized nations have also been flooding their systems with new money, and this is really starting to drive up food prices all over the globe. The following comes from Zero Hedge…
The reason this has suddenly become a hot topic is because while overall inflation remains subdued (we will spare a discussion here of why the CPI is purposefully distorted to stay as low as possible – readers can catch up here, here and here), food inflation has been on a tear in recent months. In fact, it has gotten so high that earlier this week Goldman published a report looking at “The Recent Spike In Food Inflation”, in which it noted that “in recent months, inflation has risen and surprised to the upside across a number of major EM economies (e.g. Turkey, South Africa, India, Brazil andRussia).” According to Goldman, one of the main drivers of these increases has been higher food inflation, which has coincided with a sharp increase in the price of some key agricultural commodities (e.g. grains, oils and soybeans).”
Sadly, this is just the beginning. Eventually, the food riots which have already started on the other side of the planet will start happening in the western world too.
And as hungry people become increasingly desperate, I believe that eventually companies will start putting armed guards on food trucks.
We aren’t quite there yet, thankfully, but things are really starting to get crazy out there.
A few days ago I went to the supermarket again, and I really tried to economize and get things that were on sale, but I still spent more than 260 dollars on one cart of food.
Just one cart!
As the cost of living continues to soar into the stratosphere, many American families are going to discover that they are no longer able to afford enough food for the week.
And once millions upon millions of Americans get desperately hungry, that is when we will see absolutely insane economic riots in this country.
All of these things are coming, and we definitely will not have to wait very long at all for “the other shoe to drop”.


investmentwatchblog--2020-12-18--Stimulus Relief $900B For Wall Street & $600 For The People (Dollar’s Disdain = Bitcoin’s Gain)

Wikileaks just dumped all of their files online !
!
Everything from Hillary Clinton 's emails , McCain , Vegas @ @ @ @ @ sniper , Steve Jobs HIV letter , Afghanistan , Syria .

Republicans and Democrats are nearing a deal on a $900 billion package that could include $600 direct payments for Americans, The Washington Post reported.
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investmentwatchblog--2020-12-19--LIN WOOD: This may be the most important tweet of my life.

This may be most important tweet of my life. Chief Justice John Roberts is corrupt & should resign immediately. Justice Stephen Breyer should also resign immediately. They are “anti-Trumpers” dedicated to preventing public from knowing TRUTH of @realDonaldTrump re-election. — Lin Wood (@LLinWood) December 17, 2020
In discussing @realDonaldTrump in phone conversation in 8/19, Justice John Roberts stated that he would make sure “the mother f#*ker would never be re-elected.” Roberts engaged in phone conversations with Justice Stephen Breyer discussing how to work to get Trump voted out. — Lin Wood (@LLinWood) December 17, 2020
Corruption & deceit have reached most powerful office in our country – the Chief Justice of U.S. Supreme Court. This is a sad day for our country but a day on which we must wake up & face the truth. Roberts is reason that SCOTUS has not acted on election cases. Others involved. — Lin Wood (@LLinWood) December 17, 2020
I have long had questions about “the John Roberts” on Jeffrey Epstein private jet flight logs. I suspected it was our Chief Justice. MSM has shown no interest in investigating issue to find TRUTH. America is now entitled to know the answer. Every lie will be revealed. Pray. — Lin Wood (@LLinWood) December 17, 2020
I have loved law almost my entire life. I love TRUTH: the good, bad, & ugly. I have revealed ugly TRUTH today about our Supreme Court. I know that I will be attacked & maybe worse. But I also love my country & freedom. We must ALL face the TRUTH.@realDonaldTrump pic.twitter.com/avEO1tDSHQ — Lin Wood (@LLinWood) December 17, 2020


investmentwatchblog--2020-12-19--The Single Greatest Opportunity in Precious Metals is Right Here

Precious metals look ready for their next leg up .
During major precious metals bull runs , silver typically leads gold .
That is precisely what is happening right now .
The below chart shows the ratio between silver and gold .
When silver outperforms gold , this chart rallies .
When gold outperforms silver this chart falls .
As you can see in the below chart , this ratio has broken out of a triangle formation to the upside .
This signals that we have likely entered a new period in which silver will outperform gold dramatically .
And @ @ @ @ @ @ @ metals .
With that in mind , I would note that silver has broken out of its own triangle formation .
The next upside target here is $ 28 if not $ 30 per ounce .
Gold has yet to follow suit .
It has managed to break above one of the resistance lines of a complicated bull flag formation .
However , it has yet to clear the second and final line of resistance .
Once it does that , the upside target is $ 2,000 per ounce if not new all-time @ @ @ @ @ @ @ silver ’ s recent runs pale in comparison to that of platinum .
That precious metal began a bull run in November and hasn ’ t looked back .
And by the look of the long-term chart , platinum is about to experience a truly SHOCKING move .
The precious metal has only just ended its 10+ year bear market .
The below chart overlaying gold and platinum speaks for itself .
Suffice to say , platinum has plenty of catching up to do .
This recent breakout is likely the start of @ @ @ @ @ @ @ will blow your socks off .
Those investors who are well positioned to profit from it could see literal fortunes .
On that note , we just published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you as it rips through the financial system in the months ahead .
The report is titled Survive the Inflationary Storm .
And it explains in very simply terms how to make inflation PAY YOU .
We are making just 100 copies available to the public .
As I write @ @ @ @ @ @ @ To pick up yours , swing by :

Precious metals look ready for their next leg up.
During major precious metals bull runs, silver typically leads gold. That is precisely what is happening right now.
The below chart shows the ratio between silver and gold. When silver outperforms gold, this chart rallies. When gold outperforms silver this chart falls. As you can see in the below chart, this ratio has broken out of a triangle formation to the upside.
This signals that we have likely entered a new period in which silver will outperform gold dramatically. And it is overall bullish for all precious metals.
With that in mind, I would note that silver has broken out of its own triangle formation. The next upside target here is $28 if not $30 per ounce.
Gold has yet to follow suit. It has managed to break above one of the resistance lines of a complicated bull flag formation. However, it has yet to clear the second and final line of resistance. Once it does that, the upside target is $2,000 per ounce if not new all-time highs.
However, both gold and silver’s recent runs pale in comparison to that of platinum. That precious metal began a bull run in November and hasn’t looked back.
And by the look of the long-term chart, platinum is about to experience a truly SHOCKING move. The precious metal has only just ended its 10+ year bear market.
The below chart overlaying gold and platinum speaks for itself. Suffice to say, platinum has plenty of catching up to do. This recent breakout is likely the start of a “catch up” move that will blow your socks off.
Those investors who are well positioned to profit from it could see literal fortunes.
We are primarily funded by readers. Please subscribe and donate to support us!
On that note, we just published a Special Investment Report concerning FIVE secret investments you can use to make inflation pay you as it rips through the financial system in the months ahead.
The report is titled Survive the Inflationary Storm. And it explains in very simply terms how to make inflation PAY YOU.
We are making just 100 copies available to the public.
As I write this there are just 49 left.
To pick up yours, swing by:
www.phoenixcapitalmarketing.com/inflationstorm.htmlParagraph
Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research


Stock Market Party

The end of 2020 has me looking back .
I started writing the letters that later became Thoughts from the Frontline back in the late 1990s .
Similar to COVID-19 today , we had a giant macro issue then , too : Y2K .
It ’ s hard to believe now how frightened some people were .
But as I expected , the big day came and the world didn ’ t end .
Another similarity is the stock market was rising like a rocket .
This newfangled “ Internet ” thing had people super-excited , and rightly so .
@ @ @ @ @ @ @ Unfortunately , some of the stocks born in that incredible boom weren ’ t world-changing paradigms at all .
The market party ended , just as this one will , but went on far longer than almost anyone ( including me ) expected .
Had you bought the Nasdaq at the March 2000 peak , and held on , you would have got back to breakeven about 15 years later .
And now , 20+ years later , your annualized return for those two decades would be around 4 % .
That ’ @ @ @ @ @ @ @ inflation by a couple of points .
But people back then expected far more—15 % annualized returns were thought to be easy .
The moral of the story is simple : Starting valuation matters .
In the example above , waiting a couple of years to start lower would have drastically changed the outcome .
But again , almost no one thought that at the time .
And while we ’ re talking about valuable things , please let me remind you that the window of opportunity to become an Alpha Society member @ @ @ @ @ @ @ Alpha Society is our most exclusive membership service—and the one that is nearest and dearest to my heart .
It was born out of my desire to create an “ inner circle ” of serious investors .
I have watched it grow over the years like a proud father watches his kid ’ s first steps , first day of school , first football game… all the way to graduation .
We ’ ve upgraded many of the features this year—for example , you ’ ll find a brand-new version of the Alpha @ @ @ @ @ @ @ , which now looks a lot like Facebook .
You can meet your fellow Alpha Society members there , as well as our editors .
I sometimes stop in to chat as well .
New members also receive a hand-selected bonus package I ’ m sure you will enjoy .
It gives you free access to three of Mauldin Economics ’ most popular events and specialty products .
As an Alpha Society member you ’ ll receive lifetime access to all of our premium subscription services , including those we ’ ll launch @ @ @ @ @ @ @ bequeath your membership to your kids or grandkids .
The savings over time are enormous , so if you are serious about investing ( and our research ) , I highly recommend you join my “ inner circle ” before time runs out .
The membership offer closes at midnight , December 21 .
And now , we ’ ll take a closer look at the stock market and where it may be going .
We last dove into the equity pool back in July in Valuation Inflation .
Rereading that letter , @ @ @ @ @ @ @ and just update the numbers .
All the valuation metrics I described look even more overvalued now .
That makes sense when you consider the prime factor—central bank liquidity—hasn ’ t changed .
The Fed has continued pumping so asset prices have kept rising .
It ’ s not just stocks , either .
Their bubble is just more obvious because they change hands more often than houses and land do .
Here are Federal Reserve assets , via the FRED database : It ’ s not just the US Federal Reserve .
@ @ @ @ @ @ @ are all doing the same thing .
The passage of time also indicates monetary stimulus may be more important to markets than fiscal aid .
The stimulus checks , extra unemployment benefits , and PPP loans mostly ended over the summer and fall , but stocks kept climbing .
This suggests that government spending , while it was a lot , had a smaller impact on the stock market .
But regardless of the cause , this market is certainly at the upper end of fair value , if not overvalued , no @ @ @ @ @ @ @ want to make .
It ’ s clear in this Doug Kass table I showed you last week .
To buy now , you must either convince yourself this is wrong , or find some reason to argue “ it ’ s different this time.
” That is rarely the case .
To see why , we are going to look at some of the above data in detail , starting with some charts from Dave Rosenberg ’ s magnificent monthly chartbook .
The S & P 500 price-to-operating earnings ratio is back @ @ @ @ @ @ @ bull market and well above its peak in the financial crisis .
Worse , notice how fast it climbed .
That ’ s not normal .
Nothing fundamentally changed enough to make US public company earnings 50 % more valuable than they were in March .
What changed was the cost of debt capital , and it changed for purely artificial reasons .
That means the valuation is now artificial , too .
Looking at it in dollar terms , we see S & P 500 operating earnings per share are now back @ @ @ @ @ @ @ the market was much lower .
There is a whole lot of optimism going on ( channeling my inner Jerry Lee Lewis ) .
That ’ s partly good news .
It means companies collectively ( though not every company ) are making as much as they did before the pandemic and recession .
As I noted last week in Survival of the Biggest , some of this is at the expense of struggling and dying small businesses ( especially in the restaurant and hotel/travel sector ) .
But it ’ s not @ @ @ @ @ @ @ S & P 500 companies are making the same profits , their share prices are something like 35 % higher .
Investors are willingly paying much more for each dollar of earnings .
What are they thinking ?
That being said , the traditional difference between the bond and stock market is striking : Well , maybe they are thinking earnings will rise a lot more .
This next chart , courtesy of Jim Bianco , shows the forward P/E ratio , which means it looks at Wall Street ’ s consensus expectation @ @ @ @ @ @ @ Here again , we see the same pattern .
This means buyers are not simply paying fair price for expected future earnings .
They are paying more even if earnings grow to match Wall Street ’ s rosy scenarios .
That ’ s a market we can no longer call “ rational.
” It is trading based on something other than reality .
By the way , it ’ s not just the US market .
The whole world is being revalued .
My friend Alexander Einechen since this out Friday morning : @ @ @ @ @ @ @ forward “ projections.
” How often do those projections turn out to be correct ?
The answer is , almost never .
Jim shows our friend Ed Yardeni ’ s reviews of analyst estimates for the last 35 years .
The little blue squiggles show where estimates begin and you can see where they end .
Most of the time they end up going down , especially when valuations are high .
Analysts are human , and they make the human mistake of projecting current reality into the future .
So what are @ @ @ @ @ @ @ that they are a remarkably bullish group .
Again from Jim Bianco : Just for the record , here are the individual estimates… This is a very optimistic group .
Maybe I should ask them to share their drug of choice so it would make me happier , too .
As I write , the S & P is around 3,700 .
Citigroup , the most bearish , estimates 3,800 by the end of 2021 .
J.P. Morgan and Cantor Fitzgerald see an almost 20 % further gain on top of what we @ @ @ @ @ @ @ is so bullish .
John Hussman projects a -1.7 % 12-year total return for a 60/30/10 portfolio .
Please note the tight correlation of the red line with actual 12-year returns .
That should worry current “ long-term ” investors : And there is Jeremy Grantham ’ s seven year projection from GMO ( note his projections on emerging market value -we will come back to that again shortly ) : Wrapping up that valuation letter last July , I said… History also shows manias can persist much longer than most people think @ @ @ @ @ @ @ many others thought there was no way the bull market could go on .
Yet it did , with the Nasdaq actually doubling in 1999 .
Since then the Nasdaq Composite rose another 28 % .
Not quite doubling in a year but it ’ s certainly been a furious pace .
And it ’ s entirely possible the pace could continue , just as it did in the 1990s .
But it will end at some point .
Back in June , my friend Anatole Kaletsky of Gavekal wrote a fascinating analysis @ @ @ @ @ @ @ ” ( Alpha Society and Over My Shoulder members can read it here . )
At the time , the Nasdaq Composite was trying to break over the 10,000 level .
Anatole said a breakout would mean a resumed bull market , with questionable companies again soaring to new highs .
That ’ s exactly what happened .
But more important , Anatole explained how market psychology was in charge , just as it was in the 1998–2002 period , and he listed five reasons why .
I ’ ll repeat them for @ @ @ @ @ @ @ monetary easing usually starts a bubble , a reversal in monetary policy is unlikely to deflate the bubble once the speculative momentum builds .
This is what happened 20 years ago .
The Fed was actually raising rates in 1999 and 2000 , but stocks continued merrily higher with only short interruptions .
This week ’ s FOMC meeting confirmed yet again they will keep pumping a long time .
I think they may pause the QE activity next year if the vaccines go well and the economy picks up steam , but @ @ @ @ @ @ @ to withdraw the new liquidity .
They ’ ll just let it gradually roll off as time passes .
• Valuations do not matter while a bubble is inflating , but they become very important after it bursts .
The charts above show this pretty clearly .
Anyone who is buying stocks now obviously doesn ’ t care about valuations .
But a time will come when they do care , and they will care a lot .
• Bubbles typically end with some huge corporate collapse , often tainted with fraud .
@ @ @ @ @ @ @ failures like Enron , Lehman and Bear Stearns .
This bubble will probably bring similar collapses from similarly well-regarded companies .
Who ?
Your guess is as good as mine .
I feel sure a lot of accounting games are being played .
As cracks begin to form , these will be harder to sustain .
• Bubble dynamics need not bear any relation to the strength , or weakness , of the economic cycle .
This is certainly the case .
We are not just in recession but a deep recession , @ @ @ @ @ @ @ lost income .
Yet the stock market doesn ’ t care .
It just goes up , for its own entirely different reasons .
This year has been a long string of “ ____ hits new all-time high ” headlines .
That ’ s both a sign of speculation and a cause of it .
A new all-time high in a stock means every shareholder has an open gain .
That both gives them confidence and makes them less interested in selling , which sends prices higher still .
This party will end @ @ @ @ @ @ @ the naysayers longer than anyone expects .
We have clearly reached a point where investor psychology is far more important than any kind of corporate or economic data .
Stocks will go up as long as people want to buy them .
But whenever they stop , look out below .
More on Where We Are Now My friend and partner Steve Blumenthal sent me these two charts along with some explanatory data .
We ’ ll start with median P/E , remembering Bob Farrell ’ s investment rule # 3 : There @ @ @ @ @ @ @ .
In the following chart , note the red “ we are here ” arrow .
We sit in the “ very overvalued ” zone .
Note also the green highlighted area and the “ we ’ d be better off here ” arrow .
The dotted line shows the long-term median P/E is 17.3 .
The latest reading is 30.8 .
That ’ s higher than almost all other bull market peaks .
Lastly , take a look at the red circle toward the lower left .
I think this is a @ @ @ @ @ @ @ may want to buy equities more aggressively .
Target one : 2,669.14 ( though still overvalued , that is likely where the Fed steps back in should the market correct that much .
Likely sooner in my view but just a guess ) .
Target two : fair value at 2,035.36 .
This next chart shows stock market capitalization as a percent of gross domestic income .
I feel it is informative in terms of coming returns .
Note the red “ we are here ” arrow .
This shows the stock market @ @ @ @ @ @ @ of GDI .
The lower section plots the amount over and under the blue dotted long-term trendline that appears in the middle section of the chart .
The data box in the upper left shows the 1 , 3 , 5 , 7 , 9 , and 11-year subsequent returns achieved when the market was in the top quintile—overvalued zone ( red highlight in the data box ) and when the market was in the bottom quintile—undervalued zone ( green highlight in the data box ) .
We currently sit in the red @ @ @ @ @ @ @ over the coming 11 years .
For various reasons , some countries tend to trade at higher multiples than others .
So the spread must be normalized .
In the chart below , a reading of zero indicates a normal spread vs. the world MSCI ( based on the median of the past 20 years ) .
A reading of 1 indicates that the spread is as positive as it has ever been in the past 20 years and is a strong warning signal .
The US , currently at about 0.7 , @ @ @ @ @ @ @ .
As Jeremy Grantham noted , there are some significant relative valuation opportunities outside of the US .
It ’ s Actually a FANG ( and Now Tesla ) Market This chart is from Ed Yardeni .
Note that almost all of this year ’ s outperformance has been from just four stocks .
The “ S & P 496 ” has been relatively flat .
Those top four names now represent over 12 % of the market and Tesla will soon add another 1.5 % .
I have no idea where the @ @ @ @ @ @ @ there is a top somewhere out there prior to another steep drop .
I will speculate about that in my forecast issue in January .
But as a reminder , friends don ’ t let friends buy-and-hold index funds .
Index funds make excellent trading vehicles .
Use them appropriately .
And tighten your hedges .
I will leave you with this bit of wisdom from my friend Doug Kass : The Dunning-Kruger effect is a cognitive bias in which people with low ability at a task overestimate their ability .
It is @ @ @ @ @ @ @ superiority and comes from people ’ s inability to recognize their lack of ability .
Stated simply , the Dunning-Kruger effect observes that people who are the most ignorant about something will be the least aware of their own ignorance ; they have the highest sense of false confidence .
With the benefit of a zero-commission trading app it is now easy and costless to trade , and the COVID-induced “ stay-at-home ” factor coupled with the desire of many to reclaim agency has contributed mightily to 2020 ’ s trading fever .
@ @ @ @ @ @ @ big marketing push of Robinhood ’ s platform is taking advantage ( selling orders ) of those who don ’ t understand and are likely to wind up losing plenty of money .
Perhaps , with so much out of their control this year , some have seen trading as a way of reclaiming the wheel and making risky bets on their own terms ( or so they think ) .
Holiday Wishes and Some Schedule Changes We will all be glad to see 2020 over .
Like market valuations , the calendar @ @ @ @ @ @ @ effect .
The new year makes us pause and reassess .
That ’ s certainly what I will do .
This year both Christmas and New Year ’ s Day fall on Fridays so I am going to take a little writing break .
My editorial and production teams could use some time off , too .
I ’ ll be back on January 9 with my 2021 forecast issue .
Shane and I will spend the holiday season at home , using Zoom to connect with our children .
It ’ s @ @ @ @ @ @ @ really looking forward to when I can get my vaccine and get back on the road every now and then .
I think it will take longer for the vaccines to roll out that most people anticipate , but I hope I am wrong .
In any event , it will happen .
I think we will look back in five years and realize that the primary economic effect of COVID-19 was how it accelerated change faster than any of us had anticipated .
It ’ s as if the world went on @ @ @ @ @ @ @ just a lot to adjust to .
But periods of rapid change also bring lots of opportunities .
With that , let me wish you the best of holiday seasons , and sincerely thank you for the gift of your time and attention .
I really do write these letters thinking of one reader , and for all practical purposes , that one reader is you .
I hope you enjoy our weekly time together .
We will resume our weekly chats in January .
All the best !
Your finding opportunities in @ @ @ @

The end of 2020 has me looking back. I started writing the letters that later became Thoughts from the Frontline back in the late 1990s. Similar to COVID-19 today, we had a giant macro issue then, too: Y2K. It’s hard to believe now how frightened some people were. But as I expected, the big day came and the world didn’t end.
Another similarity is the stock market was rising like a rocket. This newfangled “Internet” thing had people super-excited, and rightly so. It was a world-changing paradigm shift. Unfortunately, some of the stocks born in that incredible boom weren’t world-changing paradigms at all. The market party ended, just as this one will, but went on far longer than almost anyone (including me) expected.
Had you bought the Nasdaq at the March 2000 peak, and held on, you would have got back to breakeven about 15 years later. And now, 20+ years later, your annualized return for those two decades would be around 4%. That’s not terrible. You beat CPI inflation by a couple of points. But people back then expected far more—15% annualized returns were thought to be easy.
The moral of the story is simple: Starting valuation matters. In the example above, waiting a couple of years to start lower would have drastically changed the outcome. But again, almost no one thought that at the time.
And while we’re talking about valuable things, please let me remind you that the window of opportunity to become an Alpha Society member this year is closing soon.
The Alpha Society is our most exclusive membership service—and the one that is nearest and dearest to my heart.
It was born out of my desire to create an “inner circle” of serious investors. I have watched it grow over the years like a proud father watches his kid’s first steps, first day of school, first football game… all the way to graduation.
We’ve upgraded many of the features this year—for example, you’ll find a brand-new version of the Alpha Council, our members-only social media platform, which now looks a lot like Facebook. You can meet your fellow Alpha Society members there, as well as our editors. I sometimes stop in to chat as well.
New members also receive a hand-selected bonus package I’m sure you will enjoy. It gives you free access to three of Mauldin Economics’ most popular events and specialty products.
As an Alpha Society member you’ll receive lifetime access to all of our premium subscription services, including those we’ll launch in the future. You can even bequeath your membership to your kids or grandkids.
The savings over time are enormous, so if you are serious about investing (and our research), I highly recommend you join my “inner circle” before time runs out. The membership offer closes at midnight, December 21.
And now, we’ll take a closer look at the stock market and where it may be going.
Fundamental Madness
We last dove into the equity pool back in July in Valuation Inflation. Rereading that letter, I could easily say it all again and just update the numbers. All the valuation metrics I described look even more overvalued now.
That makes sense when you consider the prime factor—central bank liquidity—hasn’t changed. The Fed has continued pumping so asset prices have kept rising. It’s not just stocks, either. Their bubble is just more obvious because they change hands more often than houses and land do.
Here are Federal Reserve assets, via the FRED database:
Source: St. Louis Fed
It’s not just the US Federal Reserve. The world’s other central banks are all doing the same thing.
Source: Thomson Reuters
The passage of time also indicates monetary stimulus may be more important to markets than fiscal aid. The stimulus checks, extra unemployment benefits, and PPP loans mostly ended over the summer and fall, but stocks kept climbing. This suggests that government spending, while it was a lot, had a smaller impact on the stock market.
But regardless of the cause, this market is certainly at the upper end of fair value, if not overvalued, no matter what fundamental or historical comparison you want to make. It’s clear in this Doug Kass table I showed you last week.
Source: Doug Kass
To buy now, you must either convince yourself this is wrong, or find some reason to argue “it’s different this time.” That is rarely the case. To see why, we are going to look at some of the above data in detail, starting with some charts from Dave Rosenberg’s magnificent monthly chartbook.
The S&P 500 price-to-operating earnings ratio is back where it was in the early 2000s bull market and well above its peak in the financial crisis.
Source: Rosenberg Research
Worse, notice how fast it climbed. That’s not normal. Nothing fundamentally changed enough to make US public company earnings 50% more valuable than they were in March. What changed was the cost of debt capital, and it changed for purely artificial reasons. That means the valuation is now artificial, too.
Looking at it in dollar terms, we see S&P 500 operating earnings per share are now back where they were in 2018–2019, when the market was much lower. There is a whole lot of optimism going on (channeling my inner Jerry Lee Lewis).
Source: Rosenberg Research
That’s partly good news. It means companies collectively (though not every company) are making as much as they did before the pandemic and recession. As I noted last week in Survival of the Biggest, some of this is at the expense of struggling and dying small businesses (especially in the restaurant and hotel/travel sector). But it’s not imaginary.
The bad part? While S&P 500 companies are making the same profits, their share prices are something like 35% higher. Investors are willingly paying much more for each dollar of earnings. What are they thinking?
That being said, the traditional difference between the bond and stock market is striking:
Source: Rosenberg Research
Well, maybe they are thinking earnings will rise a lot more. This next chart, courtesy of Jim Bianco, shows the forward P/E ratio, which means it looks at Wall Street’s consensus expectation rather than what has actually happened.
Source: Bianco Research
Here again, we see the same pattern. This means buyers are not simply paying fair price for expected future earnings. They are paying more even if earnings grow to match Wall Street’s rosy scenarios. That’s a market we can no longer call “rational.” It is trading based on something other than reality.
By the way, it’s not just the US market. The whole world is being revalued. My friend Alexander Einechen since this out Friday morning:
Source: Alexander Einechen
Further, the chart from Jim shows forward “projections.” How often do those projections turn out to be correct? The answer is, almost never. Jim shows our friend Ed Yardeni’s reviews of analyst estimates for the last 35 years. The little blue squiggles show where estimates begin and you can see where they end. Most of the time they end up going down, especially when valuations are high. Analysts are human, and they make the human mistake of projecting current reality into the future.
Source: Bianco Research
So what are analysts actually projecting? It turns out that they are a remarkably bullish group. Again from Jim Bianco:
Just for the record, here are the individual estimates…
Source: Bianco Research
This is a very optimistic group. Maybe I should ask them to share their drug of choice so it would make me happier, too.
As I write, the S&P is around 3,700. Citigroup, the most bearish, estimates 3,800 by the end of 2021. J.P. Morgan and Cantor Fitzgerald see an almost 20% further gain on top of what we have seen this year.
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Not everyone is so bullish. John Hussman projects a -1.7% 12-year total return for a 60/30/10 portfolio. Please note the tight correlation of the red line with actual 12-year returns. That should worry current “long-term” investors:
Source: John Hussman
And there is Jeremy Grantham’s seven year projection from GMO (note his projections on emerging market value -we will come back to that again shortly):
Source: GMO
Market Psychology
Wrapping up that valuation letter last July, I said…
History also shows manias can persist much longer than most people think. Back in 1999, I and many others thought there was no way the bull market could go on. Yet it did, with the Nasdaq actually doubling in 1999.
Since then the Nasdaq Composite rose another 28%. Not quite doubling in a year but it’s certainly been a furious pace. And it’s entirely possible the pace could continue, just as it did in the 1990s. But it will end at some point.
Back in June, my friend Anatole Kaletsky of Gavekal wrote a fascinating analysis on “Five Features of Market Madness.” (Alpha Society and Over My Shoulder members can read it here.) At the time, the Nasdaq Composite was trying to break over the 10,000 level. Anatole said a breakout would mean a resumed bull market, with questionable companies again soaring to new highs. That’s exactly what happened.
But more important, Anatole explained how market psychology was in charge, just as it was in the 1998–2002 period, and he listed five reasons why. I’ll repeat them for you with some comments.
While monetary easing usually starts a bubble, a reversal in monetary policy is unlikely to deflate the bubble once the speculative momentum builds.
This is what happened 20 years ago. The Fed was actually raising rates in 1999 and 2000, but stocks continued merrily higher with only short interruptions. This week’s FOMC meeting confirmed yet again they will keep pumping a long time. I think they may pause the QE activity next year if the vaccines go well and the economy picks up steam, but I see no chance they will try to withdraw the new liquidity. They’ll just let it gradually roll off as time passes.
Valuations do not matter while a bubble is inflating, but they become very important after it bursts.
The charts above show this pretty clearly. Anyone who is buying stocks now obviously doesn’t care about valuations. But a time will come when they do care, and they will care a lot.
Bubbles typically end with some huge corporate collapse, often tainted with fraud.
In past bubbles we saw scandals and failures like Enron, Lehman and Bear Stearns. This bubble will probably bring similar collapses from similarly well-regarded companies. Who? Your guess is as good as mine. I feel sure a lot of accounting games are being played. As cracks begin to form, these will be harder to sustain.
Bubble dynamics need not bear any relation to the strength, or weakness, of the economic cycle.
This is certainly the case. We are not just in recession but a deep recession, with millions unemployed and millions more having lost income. Yet the stock market doesn’t care. It just goes up, for its own entirely different reasons.
Speculation increases dramatically when prices break through major highs.
This year has been a long string of “____ hits new all-time high” headlines. That’s both a sign of speculation and a cause of it. A new all-time high in a stock means every shareholder has an open gain. That both gives them confidence and makes them less interested in selling, which sends prices higher still.
This party will end. They always do—but they also defy the naysayers longer than anyone expects. We have clearly reached a point where investor psychology is far more important than any kind of corporate or economic data. Stocks will go up as long as people want to buy them.
But whenever they stop, look out below.
More on Where We Are Now
My friend and partner Steve Blumenthal sent me these two charts along with some explanatory data. We’ll start with median P/E, remembering Bob Farrell’s investment rule #3: There are no new eras—excesses are never permanent.
In the following chart, note the red “we are here” arrow. We sit in the “very overvalued” zone. Note also the green highlighted area and the “we’d be better off here” arrow. The dotted line shows the long-term median P/E is 17.3. The latest reading is 30.8. That’s higher than almost all other bull market peaks.
Lastly, take a look at the red circle toward the lower left. I think this is a pretty good way to estimate where you may want to buy equities more aggressively. Target one: 2,669.14 (though still overvalued, that is likely where the Fed steps back in should the market correct that much. Likely sooner in my view but just a guess). Target two: fair value at 2,035.36.
Source: Steve Blumenthal
This next chart shows stock market capitalization as a percent of gross domestic income. I feel it is informative in terms of coming returns.
Note the red “we are here” arrow. This shows the stock market’s current value as a percent of GDI. The lower section plots the amount over and under the blue dotted long-term trendline that appears in the middle section of the chart.
The data box in the upper left shows the 1, 3, 5, 7, 9, and 11-year subsequent returns achieved when the market was in the top quintile—overvalued zone (red highlight in the data box) and when the market was in the bottom quintile—undervalued zone (green highlight in the data box).
We currently sit in the red zone, so expect negative annualized returns over the coming 11 years.
Source: Steve Blumenthal
There’s Always a Bull Market Somewhere
From Gavekal’s Will Denyer.
For various reasons, some countries tend to trade at higher multiples than others. So the spread must be normalized. In the chart below, a reading of zero indicates a normal spread vs. the world MSCI (based on the median of the past 20 years). A reading of 1 indicates that the spread is as positive as it has ever been in the past 20 years and is a strong warning signal. The US, currently at about 0.7, looks very expensive compared to other markets.
Source: Gavekal
As Jeremy Grantham noted, there are some significant relative valuation opportunities outside of the US.
It’s Actually a FANG (and Now Tesla) Market
This chart is from Ed Yardeni.
Source: Yardeni Research
Note that almost all of this year’s outperformance has been from just four stocks. The “S&P 496” has been relatively flat. Those top four names now represent over 12% of the market and Tesla will soon add another 1.5%.
I have no idea where the top is, but history tells us there is a top somewhere out there prior to another steep drop. I will speculate about that in my forecast issue in January. But as a reminder, friends don’t let friends buy-and-hold index funds. Index funds make excellent trading vehicles. Use them appropriately. And tighten your hedges.
I will leave you with this bit of wisdom from my friend Doug Kass:
The Dunning-Kruger effect is a cognitive bias in which people with low ability at a task overestimate their ability. It is related to the cognitive bias of illusory superiority and comes from people’s inability to recognize their lack of ability. Stated simply, the Dunning-Kruger effect observes that people who are the most ignorant about something will be the least aware of their own ignorance; they have the highest sense of false confidence.
With the benefit of a zero-commission trading app it is now easy and costless to trade, and the COVID-induced “stay-at-home” factor coupled with the desire of many to reclaim agency has contributed mightily to 2020’s trading fever. As I have mentioned previously, the big marketing push of Robinhood’s platform is taking advantage (selling orders) of those who don’t understand and are likely to wind up losing plenty of money.
Perhaps, with so much out of their control this year, some have seen trading as a way of reclaiming the wheel and making risky bets on their own terms (or so they think).
Holiday Wishes and Some Schedule Changes
We will all be glad to see 2020 over. Like market valuations, the calendar is artificial but it has a psychological effect. The new year makes us pause and reassess. That’s certainly what I will do. This year both Christmas and New Year’s Day fall on Fridays so I am going to take a little writing break. My editorial and production teams could use some time off, too. I’ll be back on January 9 with my 2021 forecast issue.
Shane and I will spend the holiday season at home, using Zoom to connect with our children. It’s not the same, and I am really looking forward to when I can get my vaccine and get back on the road every now and then. I think it will take longer for the vaccines to roll out that most people anticipate, but I hope I am wrong. In any event, it will happen.
I think we will look back in five years and realize that the primary economic effect of COVID-19 was how it accelerated change faster than any of us had anticipated. It’s as if the world went on fast-forward. Not a bad thing, just a lot to adjust to. But periods of rapid change also bring lots of opportunities.
With that, let me wish you the best of holiday seasons, and sincerely thank you for the gift of your time and attention. I really do write these letters thinking of one reader, and for all practical purposes, that one reader is you. I hope you enjoy our weekly time together. We will resume our weekly chats in January. All the best!
Your finding opportunities in change everywhere analyst,
John Mauldin


investmentwatchblog--2020-12-19--SCOTUS clerk overheard real reason why justices refused to hear Texas election lawsuit

A week ago , on December 11 , 2020 , in a 7:2 decision , the Supreme Court dismissed a lawsuit by Texas Attorney General Ken Paxton challenging the election results in the four battleground states of Michigan , Wisconsin , Georgia and Pennsylvania .
Trump had won those states in 2016 and was winning on election night 2020 until the counting of votes was abruptly halted .
When the counting resumed the next morning , lo and behold , Biden surged ahead .
Texas ’ lawsuit was joined by 106 GOP members of Congress and supported by 17 GOP-controlled @ @ @ @ @ @ @ , Florida , Indiana , Kansas , Louisiana , Mississippi , Montana , Nebraska , North Dakota , Oklahoma , South Carolina , South Dakota , Tennessee , Utah , and West Virginia .
State of Texas v. Pennsylvania , et al.
, argued that officials in the four battleground states conducted the 2020 general election in violation of the U.S. Constitution because they had illegally altered election laws , causing a flood of mail-in votes without appropriate ballot integrity measures in place .
Texas maintained the resulting irregularities put the ultimate outcome @ @ @ @ @ @ @ But the Supreme Court , in an unsigned one-page order , dismissed the suit on the grounds that Texas lacked legal standing or right to sue under the Constitution because the state had not shown a valid interest to intervene in how other states handle their elections .
All three justices whom Trump had nominated — Neil Gorsuch , Brett Kavanaugh and Amy Barrett — sided with the majority .
The two lone dissenters were Justices Samuel Alito and Clarence Thomas , who disagreed with the ruling on standing , arguing that the @ @ @ @ @ @ @ but did not otherwise find for the plaintiffs .
Now we know why SCOTUS squashed the Texas lawsuit .
Chief Justice John Roberts , whom conservatives already regard as suspect for his vote that ensured the Supreme Court ’ s rulings for “ gay ” marriage and Obamacare ( see here ) , quashed the Texas lawsuit in fear of riots .
In other words , Roberts and the other 6 justices were so intimidated by the terrorist tactics of the Black Lives Matter riots , they relinquished their sworn duty to the @ @ @ @ @ @ @ U.S. Constitution .
First reported on December 12 by the Hal Turner Radio Show “ from a source deep inside the US Supreme Court , ” this is now verified by a C-SPAN video tweeted by Howard Mortman , who identifies himself as “ C-SPAN Communications Director “ .
I first saw the video yesterday on a tweet by Kyle Becker .
But this morning , I discovered that Twitter had already taken down Kyle ’ s tweet ( see here ) .
So I ’ ve saved Mortman ’ s video and @ @ @ @ @ @ @ library .
The video is a C-SPAN clip of an unidentified grey-haired man testifying before the Electoral College on December 14 .
Epoch Times has identified the grey-haired man as a GOP Texas elector , Matt Patrick .
This is what Matt Patrick said : “ It was written by someone who is a current staffer for one of the Supreme Court justices .
I ’ ll just describe the report to you that I read , and you can make of it what you will .
He said that the justices , @ @ @ @ @ @ @ a closed room to discuss cases they ’ re taking , their debate .
There ’ s no phones , no computers , no nothing , no one else is in the room except for the nine justices .
It ’ s typically very civil , you don ’ t usually hear any sound , they just debate what they ’ re doing .
But when the Texas case was brought up , he [ the staffer ] said he heard screaming through the walls .
As Justice Roberts and the other liberal @ @ @ @ @ @ @ be taken up , and the reason — the words that were heard through the wall when Justices Thomas and Alito were citing Bush v. Gore — from John Roberts were ‘ I don ’ t give a f__ about that case , I don ’ t wan na hear about it .
At that time , we didn ’ t have riots.
’ So what he was saying was that he was afraid of what would happen if they did the right thing .
And I ’ m sorry , but that @ @ @ @ @ @ @ the SREC* , I ’ m a SREC member , we put those words in very specifically because the charge of the Supreme Court is to ultimately be our final arbitrator , our final line of defense for right and wrong , and they did not do their duty .
So I think we should leave these words in because I want to send this oral message to them .
Thank you.
” *Note : SREC is the State Republican Executive Committee , the 64-member governing board of the Republican Party of Texas @ @ @ @ @ @ @ Court has denied what was claimed in the C-SPAN video .
The spokesperson told The Epoch Times via email yesterday that the court “ has been conducting its conferences remotely by phone since March when the building closed due to the pandemic.
” According to the Supreme Court ’ s website , the justices have not met in person for months because of the COVID-19 China virus pandemic : Jim Pickle , also a Republican elector in Texas , disagreed with Patrick on sending a message to SCOTUS on the grounds of hearsay @ @ @ @

by Dr. Eowyn
A week ago, on December 11, 2020, in a 7:2 decision, the Supreme Court dismissed a lawsuit by Texas Attorney General Ken Paxton challenging the election results in the four battleground states of Michigan, Wisconsin, Georgia and Pennsylvania. Trump had won those states in 2016 and was winning on election night 2020 until the counting of votes was abruptly halted. When the counting resumed the next morning, lo and behold, Biden surged ahead.
Texas’ lawsuit was joined by 106 GOP members of Congress and supported by 17 GOP-controlled states — Missouri, Alabama, Arkansas, Florida, Indiana, Kansas, Louisiana, Mississippi, Montana, Nebraska, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Utah, and West Virginia.
State of Texas v. Pennsylvania, et al., argued that officials in the four battleground states conducted the 2020 general election in violation of the U.S. Constitution because they had illegally altered election laws, causing a flood of mail-in votes without appropriate ballot integrity measures in place. Texas maintained the resulting irregularities put the ultimate outcome of the presidential election in doubt.
But the Supreme Court, in an unsigned one-page order, dismissed the suit on the grounds that Texas lacked legal standing or right to sue under the Constitution because the state had not shown a valid interest to intervene in how other states handle their elections. All three justices whom Trump had nominated — Neil Gorsuch, Brett Kavanaugh and Amy Barrett — sided with the majority. The two lone dissenters were Justices Samuel Alito and Clarence Thomas, who disagreed with the ruling on standing, arguing that the Supreme Court should hear the case, but did not otherwise find for the plaintiffs.
Now we know why SCOTUS squashed the Texas lawsuit.
Chief Justice John Roberts, whom conservatives already regard as suspect for his vote that ensured the Supreme Court’s rulings for “gay” marriage and Obamacare (see here), quashed the Texas lawsuit in fear of riots. In other words, Roberts and the other 6 justices were so intimidated by the terrorist tactics of the Black Lives Matter riots, they relinquished their sworn duty to the American people to uphold justice and the U.S. Constitution.
First reported on December 12 by the Hal Turner Radio Show “from a source deep inside the US Supreme Court,” this is now verified by a C-SPAN video tweeted by Howard Mortman, who identifies himself as “C-SPAN Communications Director“.
I first saw the video yesterday on a tweet by Kyle Becker. But this morning, I discovered that Twitter had already taken down Kyle’s tweet (see here). So I’ve saved Mortman’s video and uploaded it to FOTM‘s media library.
The video is a C-SPAN clip of an unidentified grey-haired man testifying before the Electoral College on December 14. Epoch Times has identified the grey-haired man as a GOP Texas elector, Matt Patrick.
We are primarily funded by readers. Please subscribe and donate to support us!
Here’s the video (transcript to follow):
This is what Matt Patrick said:
“It was written by someone who is a current staffer for one of the Supreme Court justices. I’ll just describe the report to you that I read, and you can make of it what you will. He said that the justices, as they always do, went into a closed room to discuss cases they’re taking, their debate. There’s no phones, no computers, no nothing, no one else is in the room except for the nine justices. It’s typically very civil, you don’t usually hear any sound, they just debate what they’re doing. But when the Texas case was brought up, he [the staffer] said he heard screaming through the walls. As Justice Roberts and the other liberal justices were insisting that this case not be taken up, and the reason — the words that were heard through the wall when Justices Thomas and Alito were citing Bush v. Gore — from John Roberts were ‘I don’t give a f__ about that case, I don’t wanna hear about it. At that time, we didn’t have riots.’ So what he was saying was that he was afraid of what would happen if they did the right thing. And I’m sorry, but that is moral cowardice. And we in the SREC*, I’m a SREC member, we put those words in very specifically because the charge of the Supreme Court is to ultimately be our final arbitrator, our final line of defense for right and wrong, and they did not do their duty. So I think we should leave these words in because I want to send this oral message to them. Thank you.”
*Note: SREC is the State Republican Executive Committee, the 64-member governing board of the Republican Party of Texas.
A spokesperson for the U.S. Supreme Court has denied what was claimed in the C-SPAN video.
The spokesperson told The Epoch Times via email yesterday that the court “has been conducting its conferences remotely by phone since March when the building closed due to the pandemic.”
According to the Supreme Court’s website, the justices have not met in person for months because of the COVID-19 China virus pandemic:
The Court will hear all oral arguments scheduled for the November and December sessions by telephone conference. In keeping with public health guidance in response to COVID-19, the Justices and counsel will all participate remotely. The oral arguments are scheduled to begin at 10 a.m. On days when more than one case will be heard, there will be a three minute pause before the second case begins,” the court’s website says.
Jim Pickle, also a Republican elector in Texas, disagreed with Patrick on sending a message to SCOTUS on the grounds of hearsay. Pickle said:
“Sending a message like this to a body of legislators or judicial officers is not going to get the attention you want to get. Nobody knows what happened in that conference room on purpose. Hearing yelling, the triple hearsay, quadruple hearsay now, about what is going on in that room, you cannot make your decision on that basis.”
H/t FOTM reader Tim Shey.
~Eowyn


investmentwatchblog--2020-12-19--2021 is Going to be Rough!

2021 is Going to be Rough!

I can ’ t wait to get away from Covid coverage .
I ’ ve learned a lot , helped many , and yet I ’ m really anxious to get back to my main work in the world , which has to do with cultivating resilience .
This has been a huge year for us here in the Martenson household .
First , we moved right as Covid was breaking across the world .
The closing date on our new 182-acre property here in beautiful Chester MA was January 28th .
My first ALERT to the world about a @ @ @ @ @ @ @ From that date and for the next 6 months I was producing daily videos .
Oh , and writing weekly content for the Peak Prosperity website .
Oh , and moving .
Oh , and assembling my first ever real estate syndication deal .
Oh , and converting our new property to a working farm .
That ’ s a lot of “ ands ” for a given year .
Thanks 2020 !
But what 2020 had taketh away ( visitors and travel ) it also giveth – lots of time at the @ @ @ @ @ @ @ soon !
Look , the world is an increasingly unstable place .
It is absolutely correct and right that people should become more resilient .
And that begins at home .
Maybe even right on your own garden .
If 2020 has done anything , it has normalized what was once ‘ fringe ” by making it completely obvious that the systems upon which we depend are rotten , unable to self-repair or reform , and therefore more fragile than we thought .
Our national health “ managers ” are not leaders , @ @ @ @ @ @ @ conflicts of interest bind their tongues as well as their hearts .
The political system is corrupt through and through and completely uninterested in any sort of introspection , let alone reform .
I ’ ve had people tell me this was “ the fairest election in recent US history.
” I show them this map of Chicago ’ s 4th congressional district and ask them to point to its fairness so I can possibly see it : Squint though I might , I just can ’ t see it .
Meanwhile the @ @ @ @ @ @ @ currency supply as seen in this chart of M1 : Looking at M1 in terms of its change from year ago levels makes it even more ridiculous seeming .
The only possibly response here ought to be WTF ?
What could possibly be going through the minds of the Federal Reserve to justify this sort of monetary madness ?
One more way to look at this is in terms of a percent change from a year ago .
How does M1 look under this condition ?
On a percent change basis , the @ @ @ @ @ @ @ which includes all of the money stock built up over its entire history — increased by 65.6 % .
At the same time the US is doing the worst job out of any country in the world managing Covid .
Simply terrible .
Awful .
Of course , as you probably know , I respect the hell out of Covid , but I don ’ t fear it any more than I fear the flu .
Because of Ivermectin , which has been overwhelmingly demonstrated to all but entirely block the transmission of @ @ @ @ @ @ @ the development of serious cases of Covid the disease .
Nobody at the NIH is interested in this data for some reason .
Fauci doesn ’ t care or want to hear about it .
All the US medical establishment wants is a vaccine .
That ’ s fine to an extent , but what about all the lives lost and ruined while we wait ?
Is there no accounting for them ?
How awful of the national health managers that they should not care about the most vulnerable , the weak , @ @ @ @ @ @ @ The US Government is out of control in its spending , too : That gap between receipts and expenditures is as staggering as it is frightening .
There ’ s just no possible way to get any of that back under control , especially not since 50 % or more of small and medium sized bushiness ( a.k.a .
“ the tax base ” ) have been destroyed for completely ill-advised and ( as it turns out ) completely unnecessary reasons — if only we had been using Ivermectin therapy and prophylaxis all @ @ @ @ @ @ @ dollar is busy falling , as it should .
There ’ s simply nothing good happening in the US at the moment that should support the dollar : But it ’ s well deserved .
There really isn ’ t much going for the dollar right now .
The terrible US economy is being destroyed by ill-advised policies and a horribly bad Covid response , out-of-control spending , and a print-happy Federal Reserve .
Add it all up and you ’ ve got a lot of US dollars floating around .
And a @ @ @ @ @ @ @ So the dollar sinks .
As the USD sinks , other assets priced in dollars rise .
Like Bitcoin .
Congratulations Bitcoin Hodl-ers !
( that stands for Hold On for Dear Life ) You know what else the dollar has been falling against all year ?
Good real estate property , stocks , bonds , gold , and many other hard assets .
The press says they are “ rising in price ” but really it ’ s not that .
It ’ s too many dollars seeking a place to hide @ @ @ @ @ @ @ to all of this ?
Like myself and my fiancée Evie , many have come to the ( proper ) conclusion that the best way to hedge their bets is to build up their homestead , and make it more resilient .
We ’ ve really thrown ourselves at this project this year and it ’ s been both challenging and rewarding .
Here on the day of our first and quite significant snowfall , it ’ s time to sit back , reflect on the mistakes and progress alike , and to @ @ @ @ @ @ @ case it helps to inspire or educate anyone .
Make no mistake .
You really should be thinking about growing your own food and building your soil , too .
If any of the events outlined in The Great Reset come to pass , being as close as possible to your food production seems like a solid plan .
The closer the better .
This Saturday , December 19th 2020 , from 12:00 EDT to 1:30 EDT , Evie and I will be hosting a live webinar for any Peak Prosperity premium subscribers @ @ @ @ @ @ @ us anything at all about our projects here at Honey Badger Farms .
If you ’ re currently a PeakProsperity.com premium subscriber , click here to register for the event ( it ’ s free to you ) .
Don ’ t worry if you can ’ t make it live .
A replay video of the event will be sent out to everyone who registers .
We ’ ll also post it in the premium section of the PeakProsperity.com website .
So if this live Q & A with my fiancée and @ @ @ @ @ @ @ needed to subscribe to Peak Prosperity ’ s premium service — which costs less than $ 1/day — click here to Enroll now .
And if you ’ re already a premium subscriber , click the button below to register for tomorrow ’ s event :

by Chris Martenson
I can’t wait to get away from Covid coverage. I’ve learned a lot, helped many, and yet I’m really anxious to get back to my main work in the world, which has to do with cultivating resilience.
This has been a huge year for us here in the Martenson household.
First, we moved right as Covid was breaking across the world. The closing date on our new 182-acre property here in beautiful Chester MA was January 28th.
My first ALERT to the world about a mysterious virus was on January 23rd.
From that date and for the next 6 months I was producing daily videos. Oh, and writing weekly content for the Peak Prosperity website. Oh, and moving. Oh, and assembling my first ever real estate syndication deal. Oh, and converting our new property to a working farm.
That’s a lot of “ands” for a given year. Thanks 2020! But what 2020 had taketh away (visitors and travel) it also giveth – lots of time at the homestead.
And not a moment too soon!
Look, the world is an increasingly unstable place. It is absolutely correct and right that people should become more resilient.
And that begins at home. Maybe even right on your own garden.
If 2020 has done anything, it has normalized what was once ‘fringe” by making it completely obvious that the systems upon which we depend are rotten, unable to self-repair or reform, and therefore more fragile than we thought.
Our national health “managers” are not leaders, and are completely unable to escape whatever conflicts of interest bind their tongues as well as their hearts. The political system is corrupt through and through and completely uninterested in any sort of introspection, let alone reform.
I’ve had people tell me this was “the fairest election in recent US history.” I show them this map of Chicago’s 4th congressional district and ask them to point to its fairness so I can possibly see it:
Squint though I might, I just can’t see it.
Meanwhile the US Federal Reserve is busy exploding the currency supply as seen in this chart of M1:
Unbelievable!
As a reminder:
M1 is the money supply that is composed of physical currency and coin, demand deposits (savings & checking), travelers’ checks, other checkable deposits, and negotiable order of withdrawal (NOW) accounts
Looking at M1 in terms of its change from year ago levels makes it even more ridiculous seeming.
The only possibly response here ought to be WTF?
What could possibly be going through the minds of the Federal Reserve to justify this sort of monetary madness?
One more way to look at this is in terms of a percent change from a year ago. How does M1 look under this condition?
This is insane. Simply insane.
On a percent change basis, the entire money stock of the US — which includes all of the money stock built up over its entire history — increased by 65.6%.
In a single year!!!
At the same time the US is doing the worst job out of any country in the world managing Covid. Simply terrible. Awful.
Of course, as you probably know, I respect the hell out of Covid, but I don’t fear it any more than I fear the flu.
We are primarily funded by readers. Please subscribe and donate to support us!
Why?
Because of Ivermectin, which has been overwhelmingly demonstrated to all but entirely block the transmission of the SARS2 virus as well as prevent the development of serious cases of Covid the disease.
Nobody at the NIH is interested in this data for some reason. Fauci doesn’t care or want to hear about it. All the US medical establishment wants is a vaccine.
That’s fine to an extent, but what about all the lives lost and ruined while we wait? Is there no accounting for them? How awful of the national health managers that they should not care about the most vulnerable, the weak, and the elderly. At all.
The US Government is out of control in its spending, too:
That gap between receipts and expenditures is as staggering as it is frightening. There’s just no possible way to get any of that back under control, especially not since 50% or more of small and medium sized bushiness (a.k.a. “the tax base”) have been destroyed for completely ill-advised and (as it turns out) completely unnecessary reasons — if only we had been using Ivermectin therapy and prophylaxis all along.
Against this backdrop the US dollar is busy falling, as it should. There’s simply nothing good happening in the US at the moment that should support the dollar:
Crickey that’s a terrible-looking chart!
But it’s well deserved. There really isn’t much going for the dollar right now. The terrible US economy is being destroyed by ill-advised policies and a horribly bad Covid response, out-of-control spending, and a print-happy Federal Reserve.
Add it all up and you’ve got a lot of US dollars floating around. And a lot less to spend them on. So the dollar sinks.
As the USD sinks, other assets priced in dollars rise.
Like Bitcoin. Congratulations Bitcoin Hodl-ers! (that stands for Hold On for Dear Life)
You know what else the dollar has been falling against all year?
Good real estate property, stocks, bonds, gold, and many other hard assets. The press says they are “rising in price” but really it’s not that. It’s too many dollars seeking a place to hide out and be safe.
The conclusion to all of this?
The Logic Of Homesteading
We’re entering a period of volatility and uncertainty.
Like myself and my fiancée Evie, many have come to the (proper) conclusion that the best way to hedge their bets is to build up their homestead, and make it more resilient.
We’ve really thrown ourselves at this project this year and it’s been both challenging and rewarding.
Here on the day of our first and quite significant snowfall, it’s time to sit back, reflect on the mistakes and progress alike, and to share what we’ve done in case it helps to inspire or educate anyone.
Make no mistake. You really should be thinking about growing your own food and building your soil, too.
If any of the events outlined in The Great Reset come to pass, being as close as possible to your food production seems like a solid plan. The closer the better.
This Saturday, December 19th 2020, from 12:00 EDT to 1:30 EDT, Evie and I will be hosting a live webinar for any Peak Prosperity premium subscribers who wish to join us and ask us anything at all about our projects here at Honey Badger Farms.
If you’re currently a PeakProsperity.com premium subscriber, click here to register for the event (it’s free to you).
Don’t worry if you can’t make it live. A replay video of the event will be sent out to everyone who registers. We’ll also post it in the premium section of the PeakProsperity.com website.
So if this live Q&A with my fiancée and me is the inspiration you’ve needed to subscribe to Peak Prosperity’s premium service — which costs less than $1/day — click here to Enroll now.
And if you’re already a premium subscriber, click the button below to register for tomorrow’s event:


investmentwatchblog--2020-12-19--When you win a record low 17% of counties, lose Black & Hispanic support, lose 18/19 Bellwether Coun

When you win a record low 17% of counties, lose Black & Hispanic support, lose 18/19 Bellwether Counties, lose Ohio, Florida, & Iowa — and lose 27/27 House “Toss-Ups” — but you shatter the popular vote record!

The Supreme Court Denies Rumors but not the Substance The Supreme Court has condemned the nation to violence for anyone who has read history knows that the very purpose of courts is to prove a civilized resolution .
If courts will not be honest , then the only solution is violence which may rise to the level of revolution .
It has now not just denied the civil rights of the 74 million people who voted for Trump , a record for any incumbent president , but they have condemned democracy for here on out there will be no trust @ @ @ @ @ @ @ warns that the United States has a short-fuse .
The break-up of the nation has just been set in motion by the Supreme Court and we have perhaps at best 13 years left .
There will only be hatred and bitterness and trying to claim Biden has a mandate to drastically change the country will lead to bloodshed .
This will all be on the hands of the Supreme Court .
If there was no evidence of fraud then review the evidence , show the world , and rule .
The refusal to @ @ @ @ @ @ @ unanswered .
Ruling against Trump would have at least calmed the turmoil .
This way , there will be no rest .

When you win a record low 17% of counties, lose Black & Hispanic support, lose 18/19 Bellwether Counties, lose Ohio, Florida, & Iowa — and lose 27/27 House "Toss-Ups" — but you shatter the popular vote record❗ pic.twitter.com/ceBEoVYf8k — Kanekoa (@KanekoaTheGreat) December 19, 2020
The Supreme Court Denies Rumors but not the Substance
The Supreme Court has condemned the nation to violence for anyone who has read history knows that the very purpose of courts is to prove a civilized resolution. If courts will not be honest, then the only solution is violence which may rise to the level of revolution. It has now not just denied the civil rights of the 74 million people who voted for Trump, a record for any incumbent president, but they have condemned democracy for here on out there will be no trust in any future election. Our model warns that the United States has a short-fuse. The break-up of the nation has just been set in motion by the Supreme Court and we have perhaps at best 13 years left. There will only be hatred and bitterness and trying to claim Biden has a mandate to drastically change the country will lead to bloodshed. This will all be on the hands of the Supreme Court.
We are primarily funded by readers. Please subscribe and donate to support us!
If there was no evidence of fraud then review the evidence, show the world, and rule. The refusal to hear the case will leave that question unanswered. Ruling against Trump would have at least calmed the turmoil. This way, there will be no rest.
h/t Mason Firefly


investmentwatchblog--2020-12-19--You can’t sue Pfizer or Moderna if you have severe Covid vaccine side effects. The government likely

You can’t sue Pfizer or Moderna if you have severe Covid vaccine side effects. The government likely won’t compensate you for damages either

• Under the PREP Act , companies like Pfizer and Moderna have total immunity from liability if something unintentionally goes wrong with their vaccines .
• A little-known government program provides benefits to people who can prove they suffered serious injury from a vaccine .
• That program rarely pays , covering just 29 claims over the last decade .
If you experience severe side effects after getting a Covid vaccine , lawyers tell CNBC there is basically no one to blame in a U.S. court of law .
The federal government has granted companies like Pfizer and Moderna immunity @ @ @ @ @ @ @ with their vaccines .
“ It is very rare for a blanket immunity law to be passed , ” said Rogge Dunn , a Dallas labor and employment attorney .
“ Pharmaceutical companies typically aren ’ t offered much liability protection under the law.
“ You also can ’ t sue the Food and Drug Administration for authorizing a vaccine for emergency use , nor can you hold your employer accountable if they mandate inoculation as a condition of employment .
Congress created a fund specifically to help cover lost wages and out-of-pocket @ @ @ @ @ @ @ irreparably harmed by a “ covered countermeasure , ” such as a vaccine .
But it is difficult to use and rarely pays .
Attorneys say it has compensated less than 6 % of the claims filed in the last decade .

Under the PREP Act, companies like Pfizer and Moderna have total immunity from liability if something unintentionally goes wrong with their vaccines.
A little-known government program provides benefits to people who can prove they suffered serious injury from a vaccine.
That program rarely pays, covering just 29 claims over the last decade.
If you experience severe side effects after getting a Covid vaccine, lawyers tell CNBC there is basically no one to blame in a U.S. court of law.
The federal government has granted companies like Pfizer and Moderna immunity from liability if something unintentionally goes wrong with their vaccines.
“It is very rare for a blanket immunity law to be passed,” said Rogge Dunn, a Dallas labor and employment attorney. “Pharmaceutical companies typically aren’t offered much liability protection under the law.“
We are primarily funded by readers. Please subscribe and donate to support us!
You also can’t sue the Food and Drug Administration for authorizing a vaccine for emergency use, nor can you hold your employer accountable if they mandate inoculation as a condition of employment.
Congress created a fund specifically to help cover lost wages and out-of-pocket medical expenses for people who have been irreparably harmed by a “covered countermeasure,” such as a vaccine. But it is difficult to use and rarely pays. Attorneys say it has compensated less than 6% of the claims filed in the last decade.
www.cnbc.com/2020/12/16/covid-vaccine-side-effects-compensation-lawsuit.html


investmentwatchblog--2020-12-19--JIM TREACHER: Seattle Councilwoman Calls Cops She Wants to Defund.

Whenever I see somebody condoning or actually cheering on rioting and other crime , I ask for their home address .
Not because I want an answer — I ’ m not a doxer — but because I want them to think about what they ’ re saying .
It ’ s easy to cheer on “ uprisings ” and “ mostly peaceful protests ” when it doesn ’ t affect you personally .
It ’ s easy to shrug when people are watching their businesses and lives go up in smoke , because you don ’ t know those @ @ @ @ @ @ @ .
Too bad about their misery , but at least you ’ re still okay , right ?
Until violent crime comes to your doorstep .
Then what do you do ?
You call the cops , of course .
The same guys you want to defund .
The same guys you ’ ve spent your whole life demonizing .
And they ’ ll show up to do the job you didn ’ t want them to do , right up until the minute you needed help .
I ’ ve said it @ @ @ @ @ @ @ again : The only thing worse than cops is no cops .
I know firsthand what it ’ s like to deal with bad cops ( GFY , DC Police ! )
, and I ’ m absolutely in favor of police reform .
But abolishing the police isn ’ t the answer .
Bad cops suck , but not as much as a complete breakdown of civil society .
The only people who don ’ t realize that yet are the ones whose living room windows haven ’ t been smashed in @

via pjmedia:
Whenever I see somebody condoning or actually cheering on rioting and other crime, I ask for their home address. Not because I want an answer — I’m not a doxer — but because I want them to think about what they’re saying. It’s easy to cheer on “uprisings” and “mostly peaceful protests” when it doesn’t affect you personally. It’s easy to shrug when people are watching their businesses and lives go up in smoke, because you don’t know those people. They’re just abstractions. Too bad about their misery, but at least you’re still okay, right?
Until violent crime comes to your doorstep. Then what do you do? You call the cops, of course. The same guys you want to defund. The same guys you’ve spent your whole life demonizing. And they’ll show up to do the job you didn’t want them to do, right up until the minute you needed help.
I’ve said it before and I’ll say it again: The only thing worse than cops is no cops. I know firsthand what it’s like to deal with bad cops (GFY, DC Police!), and I’m absolutely in favor of police reform. But abolishing the police isn’t the answer. Bad cops suck, but not as much as a complete breakdown of civil society. The only people who don’t realize that yet are the ones whose living room windows haven’t been smashed in.


investmentwatchblog--2020-12-19--A Christmas Message For Dr Fauci

A Christmas Message For Dr Fauci

This can ’ t be a mistake .
No one can be this dumb .
No one can be this clueless .
Not even Democrats .
Not even moronic Democrat Governors .
Not even Nanny State government bureaucrats like Dr. Fauci .
Dr. Fauci just asked Americans to cancel Christmas .
He said , “ …it ’ s just one of those things you ’ re going to have to accept.
” He reported he would not even allow his own three daughters to come home for Christmas this year .
He wants all Americans to “ painfully ” isolate @ @ @ @ @ @ @ will be spending the holiday alone .
First , not just no .
But “ HELL NO.
” This is America .
This is a free country .
If we want to celebrate Christmas , we will .
If we want to go to church , we will .
If we want to spend the holidays with our children.
, we will .
We ’ re adults .
We make our own decisions .
This isn ’ t a Nanny State .
It ’ s not the old Soviet Union .
It ’ @ @ @ @ @ @ @ ’ t need government bureaucrats telling us what to do , how to live our lives , or how to spend the holidays .
Second , you ’ re a typical Ivy League egghead .
You ’ re too smart for your own good .
You have IQ , but clearly no “ emotional intelligence.
” And certainly , no common sense .
Third , how can I say this nicely ?
“ SCREW YOU.
” I love my family .
I love my children .
I love Christmas .
I don ’ @ @ @ @ @ @ @ t owe you , and I don ’ t answer to you .
Dr. Fauci and his crowd of moronic Democrat Governors are control freaks .
But no one is listening .
Certainly not conservatives , not Trump deplorables , not patriots , and not Christians .
We love Christmas .
We love our families .
And no one is taking that away from us .
Not in America .
As a matter of fact , if you tell Americans not to do something , the odds are , we ’ re going @ @ @ @ @ @ @ weren ’ t planning to do it in the first place .
We ’ re not a nation of order takers .
Didn ’ t we already make this case with the King of England ?
He wanted to add a few cents of tax to our tea .
We decided to fight a war instead of paying a few cents extra .
Thousands died .
We defeated the world ’ s most powerful army .
We chased the British out of our country forever .
Keep in mind that was over tea @ @ @ @ @ @ @ , but we love Christmas .
So , good luck with your stupid recommendation .
No one is cancelling Christmas .
The thing is , I love my family .
My four kids are all home for Christmas .
I ’ ve waited one year to have all four kids under my roof .
Celebrating holidays with your children is what life is all about .
I ’ d rather risk the astronomically low risk of death from Covid-19 , and see my children for Christmas , than risk the misery , loneliness @ @ @ @ @ @ @ lockdowns .
That ’ s the missing ingredient Dr. Fauci doesn ’ t get .
American patriots like me , love running our businesses .
We love God .
We love family .
We love Christmas .
And we love freedom and personal responsibility .
All of that is so important to us , we ’ d rather risk illness , or a tiny risk of death , than close our businesses , stop working , give up our freedom , or cancel holidays with our families .
We also understand this is @ @ @ @ @ @ @ This isn ’ t Ebola .
Covid-19 doesn ’ t have a 90 % death rate .
This disease is the flu .
It has a survival rate of 99.6 % .
If you ’ re relatively young and healthy , your odds of dying are virtually ZERO .
We also understand the death count has been greatly exaggerated .
We know that the number of deaths in 2020 is in the exact same range as 2019 , and 2018 , and every other year in the past decade .
We know that @ @ @ @ @ @ @ and even the flu and pneumonia are dramatically down .
Even gunshot murder victims and car accident deaths are being classified as Covid across this country .
This is a highly contagious flu pandemic .
That much is true .
But the response of Dr. Fauci , moronic Democrat Governors , government bureaucrats and the liberal media has been off-the-charts hysterical and greatly exaggerated .
Some might classify this response as fraud .
No one could be this stupid .
Unless it ’ s all part of a plan .
More about that @ @ @ @ @ @ @ ’ s some advice to Dr. Fauci and his Democrat pals .
This is America .
We ’ re a nation of rebels , mavericks and independent thinkers .
And we ’ re a nation of risk-takers .
That ’ s what makes us the greatest nation in world history .
We face risk with courage .
So , next time , shut up , and keep your opinions to yourself .
Unless you ’ re looking for the same treatment as the King of England .

By Wayne Root
This can’t be a mistake. No one can be this dumb. No one can be this clueless. Not even Democrats. Not even moronic Democrat Governors. Not even Nanny State government bureaucrats like Dr. Fauci.
Dr. Fauci just asked Americans to cancel Christmas. He said, “…it’s just one of those things you’re going to have to accept.” He reported he would not even allow his own three daughters to come home for Christmas this year. He wants all Americans to “painfully” isolate. Fauci says he and his wife will be spending the holiday alone.
I have a message for Dr Fauci (aka Dr. Scrooge):
First, not just no. But “HELL NO.” This is America. This is a free country. If we want to celebrate Christmas, we will. If we want to go to church, we will. If we want to spend the holidays with our children., we will. We’re adults. We make our own decisions. This isn’t a Nanny State. It’s not the old Soviet Union. It’s not Nazi Germany. We don’t need government bureaucrats telling us what to do, how to live our lives, or how to spend the holidays.
Second, you’re a typical Ivy League egghead. You’re too smart for your own good. You have IQ, but clearly no “emotional intelligence.” And certainly, no common sense.
Third, how can I say this nicely? “SCREW YOU.” I love my family. I love my children. I love Christmas. I don’t know you, I don’t owe you, and I don’t answer to you.
Dr. Fauci and his crowd of moronic Democrat Governors are control freaks. But no one is listening. Certainly not conservatives, not Trump deplorables, not patriots, and not Christians. We love Christmas. We love our families. And no one is taking that away from us. Not in America.
As a matter of fact, if you tell Americans not to do something, the odds are, we’re going to do it. Even if we weren’t planning to do it in the first place.
We’re not a nation of order takers. Didn’t we already make this case with the King of England? He wanted to add a few cents of tax to our tea. We decided to fight a war instead of paying a few cents extra. Thousands died. We defeated the world’s most powerful army. We chased the British out of our country forever.
We are primarily funded by readers. Please subscribe and donate to support us!
Keep in mind that was over tea, not Christmas. We like tea, but we love Christmas. So, good luck with your stupid recommendation. No one is cancelling Christmas.
The thing is, I love my family. My four kids are all home for Christmas. I’ve waited one year to have all four kids under my roof. Celebrating holidays with your children is what life is all about. I’d rather risk the astronomically low risk of death from Covid-19, and see my children for Christmas, than risk the misery, loneliness and depression that comes from isolation and lockdowns.
That’s the missing ingredient Dr. Fauci doesn’t get. American patriots like me, love running our businesses. We love God. We love family. We love Christmas. And we love freedom and personal responsibility. All of that is so important to us, we’d rather risk illness, or a tiny risk of death, than close our businesses, stop working, give up our freedom, or cancel holidays with our families.
We also understand this is ridiculous hysteria and a dramatic overreaction. This isn’t Ebola. Covid-19 doesn’t have a 90% death rate. This disease is the flu. It has a survival rate of 99.6%. If you’re relatively young and healthy, your odds of dying are virtually ZERO.
We also understand the death count has been greatly exaggerated. We know that the number of deaths in 2020 is in the exact same range as 2019, and 2018, and every other year in the past decade. We know that deaths from cancer, heart disease, and even the flu and pneumonia are dramatically down. Even gunshot murder victims and car accident deaths are being classified as Covid across this country.
This is a highly contagious flu pandemic. That much is true. But the response of Dr. Fauci, moronic Democrat Governors, government bureaucrats and the liberal media has been off-the-charts hysterical and greatly exaggerated. Some might classify this response as fraud.
No one could be this stupid. Unless it’s all part of a plan. More about that plan in a future column.
Here’s some advice to Dr. Fauci and his Democrat pals. This is America. We’re a nation of rebels, mavericks and independent thinkers. And we’re a nation of risk-takers. That’s what makes us the greatest nation in world history. We face risk with courage.
So, next time, shut up, and keep your opinions to yourself. Unless you’re looking for the same treatment as the King of England.