investmentwatchblog--2020-08-19--Democrats push bizarre new conspiracy theory that claims the USPS is removing mailboxes across the c

Democrats push bizarre new conspiracy theory that claims the USPS is removing mailboxes across the country to prevent people from mailing in ballots

( Natural News ) By now , you have probably heard the disturbing news about how President Donald Trump is trying to steal the election by having tractor-trailers remove all U.S .
Postal Service mailboxes from every town and city across America .
Well , the truth is that this is not actually happening , and is just another Democrat-manufactured conspiracy theory intended to sow confusion and unrest in the leadup to election day .
The “ mailbox conspiracy , ” as it is being called , alleges that Trump is ripping out all of those arched blue USPS mailboxes @ @ @ @ @ @ @ ballots this fall .
Photos of piled-up mailboxes have been circulating online , and this is apparently enough “ proof ” that Trump is literally Hitler and in desperate need of removal from office .
As it turns out , these damning photos were taken in 2009 while Barack Obama was president .
Hilariously , it was Obama who removed some 14,000 mailboxes as part of a nationwide effort to cut costs for the USPS .
Many mailboxes were removed while others were installed , all depending on where they were most needed @ @ @ @ @ @ @ no conspiracy involved , and even Obama was not , as far as we can tell , attempting anything nefarious by supporting this process .
The goal was simply to help our country ’ s flailing mail service better optimize its finances , seeing as how it remains in a serious financial hole .
“ In 2009 , the postmaster general proposed moving to five-day-per-week mail delivery to cut costs , ” explains Joel B. Pollak writing for Breitbart News about the process .
“ President Barack Obama criticized the service that year @ @ @ @ @ @ @ sector competitors.
” “ The Obama-Biden administration considered closing nearly 3,700 post office locations , and proposed cutting 12,000 postal jobs , ” Pollak adds .
“ President Trump tried a different tack , demanding in 2018 that Amazon lower the prices it charged the U.S .
Postal Service for delivering its packages to consumers.
” In other words , problems with the USPS go way back and have absolutely nothing to do with Trump or the upcoming election .
But try telling that to the Democrats who are being falsely led to @ @ @ @ @ @ @ tyrant who is attempting to dismantle the USPS to steal votes .
Joe Biden is complicit in this as well , having tweeted , with Twitter ’ s permission , bald-faced lies about how Trump is “ going around literally with tractor trailers picking up mailboxes.
” “ You oughta go online and check out what they ’ re doing in Oregon , ” the senile child-sniffer further wrote , with no fact-checking whatsoever from the Twitter gods .
“ I mean , it ’ s bizarre !
… I wonder if you @ @ @ @ @ @ @ your mailboxes.
” This type of inflammatory and patently false information is the type of thing that should be getting censored from Twitter because it is needlessly riling up the Left , just like what happened with the Russiagate conspiracy theory , and contributing to even more death and destruction in America ’ s already chaotic streets .
To be clear , the Trump administration has now gone above and beyond the call of duty to placate people ’ s fears by announcing that all removal of mailboxes will be halted until after @ @ @ @ @ @ @ further confusion , at least until the next manufactured conspiracy theory by Democrats starts to go viral .
“ The silent majority had better show up to the polls , ” wrote one Breitbart News commenter , getting right to the point about what really matters with all of this .
For more related news about the fake news being spread by Democrats in the leadup to the 2020 presidential election , be sure to check out Faked.news .

by: Ethan Huff
(Natural News) By now, you have probably heard the disturbing news about how President Donald Trump is trying to steal the election by having tractor-trailers remove all U.S. Postal Service mailboxes from every town and city across America. Well, the truth is that this is not actually happening, and is just another Democrat-manufactured conspiracy theory intended to sow confusion and unrest in the leadup to election day.
The “mailbox conspiracy,” as it is being called, alleges that Trump is ripping out all of those arched blue USPS mailboxes to prevent people from casting their mail-in ballots this fall. Photos of piled-up mailboxes have been circulating online, and this is apparently enough “proof” that Trump is literally Hitler and in desperate need of removal from office.
As it turns out, these damning photos were taken in 2009 while Barack Obama was president. Hilariously, it was Obama who removed some 14,000 mailboxes as part of a nationwide effort to cut costs for the USPS. Many mailboxes were removed while others were installed, all depending on where they were most needed or not needed.
There was really no conspiracy involved, and even Obama was not, as far as we can tell, attempting anything nefarious by supporting this process. The goal was simply to help our country’s flailing mail service better optimize its finances, seeing as how it remains in a serious financial hole.
“In 2009, the postmaster general proposed moving to five-day-per-week mail delivery to cut costs,” explains Joel B. Pollak writing for Breitbart News about the process. “President Barack Obama criticized the service that year for failing to keep up with private sector competitors.”
“The Obama-Biden administration considered closing nearly 3,700 post office locations, and proposed cutting 12,000 postal jobs,” Pollak adds. “President Trump tried a different tack, demanding in 2018 that Amazon lower the prices it charged the U.S. Postal Service for delivering its packages to consumers.”
Twitter allowed Joe Biden to inflame base with false mailbox conspiracy theory claims
In other words, problems with the USPS go way back and have absolutely nothing to do with Trump or the upcoming election. But try telling that to the Democrats who are being falsely led to believe that Trump is some kind of tyrant who is attempting to dismantle the USPS to steal votes.
Joe Biden is complicit in this as well, having tweeted, with Twitter’s permission, bald-faced lies about how Trump is “going around literally with tractor trailers picking up mailboxes.”
We are primarily funded by readers. Please subscribe and donate to support us!
“You oughta go online and check out what they’re doing in Oregon,” the senile child-sniffer further wrote, with no fact-checking whatsoever from the Twitter gods. “I mean, it’s bizarre! … I wonder if you’re outside trying to hold down your mailboxes.”
This type of inflammatory and patently false information is the type of thing that should be getting censored from Twitter because it is needlessly riling up the Left, just like what happened with the Russiagate conspiracy theory, and contributing to even more death and destruction in America’s already chaotic streets.
To be clear, the Trump administration has now gone above and beyond the call of duty to placate people’s fears by announcing that all removal of mailboxes will be halted until after the election. This will prevent any further confusion, at least until the next manufactured conspiracy theory by Democrats starts to go viral.
“The silent majority had better show up to the polls,” wrote one Breitbart News commenter, getting right to the point about what really matters with all of this.
For more related news about the fake news being spread by Democrats in the leadup to the 2020 presidential election, be sure to check out Faked.news.
Sources for this article include:
Breitbart.com
NaturalNews.com


investmentwatchblog--2020-08-19--Giuliani: Tomorrow we will expose information that is vital to protect the proper functioning of our

Giuliani: Tomorrow we will expose information that is vital to protect the proper functioning of our Republic.

Tomorrow we will expose information that is vital to protect the proper functioning of our Republic .

Tomorrow we will expose information that is vital to protect the proper functioning of our Republic.
— Rudy W. Giuliani (@RudyGiuliani) August 19, 2020


investmentwatchblog--2020-08-19--The S&P 500 made new all time highs yesterday with just 6% of stocks making new 52 week highs.

The S & P 500 made new all time highs yesterday with just 6 % of stocks making new 52 @ @ @ @

The S&P 500 made new all time highs yesterday with just 6% of stocks making new 52 week highs. pic.twitter.com/78HomhFQyy
— Julien Bittel, CFA (@BittelJulien) August 19, 2020


investmentwatchblog--2020-08-19--Can The Economy Improve Before Consumers Run Out Of Money?

Even though the labor market was tight at the end of the last expansion and credit card debt wasn ’ t nearly as big of an issue as it was in the previous cycle , the percentage of American Express loans 30 days past due creeped up from 0.9 % in 2015 to 1.7 % in 2019 .
This could be an individual company issue with lending standard changes .
That being said , the recent decline to 1.4 % which is the lowest since July 2019 was related to the macro picture .
This recession was a boon for @ @ @ @ @ @ @ got more money from unemployment benefits than their regular job .
They paid off their credit card debt because they didn ’ t know when they would get their jobs back .
The details of Trump ’ s $ 300 per week unemployment benefits executive order are coming out and the results look bad .
Many states need to upgrade their systems to adjust to the order .
Some states aren ’ t giving out benefits , some benefits will only last a few weeks , and 1 million workers might not qualify @ @ @ @ @ @ @ per week in benefits .
We can ’ t go into every state ’ s rules regarding these benefits .
It ’ s sufficient to say this won ’ t be the same boon as the $ 600 in additional weekly payments that ended last month were .
The chart below shows the decline in disbursements .
The recent decline in unemployment benefits is $ 15 billion per week which is almost 4 % of GDP .
Congress is unlikely to act this month as it ’ s on recess .
A stock @ @ @ @ @ @ @ could spur a bill , but neither look to be coming soon .
The August labor report will probably be strong based on the recent jobless claims reading .
The S & P 500 is within 1 % of its record high .
The hope is the labor market strengthens enough to allow the economy to stand on its own .
If continuing claims fall 500,000 per week for 18 weeks , they only will fall to the previous recession spike .
It ’ s dubious that unemployed workers will have enough money @ @ @ @ @ @ @ .
The good news is they have some extra savings , so if a stimulus is passed in September , here won ’ t be a major economic hiccup .
The alternative data led us in the wrong direction when forecasting the July labor report .
Even the official data suggested a weak report was coming .
Keep that in mind when we review the chart below .
The Homebase coincident employment index for the BLS ’ s survey week suggests the labor market got slightly worse .
If you adjust for seasonality @ @ @ @ @ @ @ created .
( There should be 320,000 temporary government jobs added because of the census ) .
That would be a step below July ’ s report , but it probably wouldn ’ t be weak enough to spur a stimulus .
We would get the positive headline that unemployment rate fell to single digits .
Let ’ s wait for the jobless claims report this Thursday to see if initial claims fall sharply like last week , in which case more jobs may have been created in August than July .
Either @ @ @ @ @ @ @ that this report causes a stimulus to be passed .
Keep in mind , it ’ s possible continuing claims fall more than our 500,000 per week suggestion .
In that case , the labor market recovery would minimize the impact of unemployment benefits being taken away .
Where Managers Are Investing In August Fund managers added to equities in August and still had a negative z score in terms of positioning .
If you follow American stocks , you might be surprised by this .
That ’ s because it was reverse @ @ @ @ @ @ @ , while the z score was still positive .
Managers rotated to European equities and towards value stocks over growth .
Many of the tech growth names in America peaked in July .
Managers also put more money in small caps and banks .
The headline of the chart below shows this as a rotation to inflation .
You can also say , it ’ s buying the laggards in an overbought market .
U.S. stocks are up so much , managers might be looking towards the laggards to find bargains .
As @ @ @ @ @ @ @ said this was a bear market rally than said it was a bull market ( 47 % vs 40 % ) .
This gives you an idea of how stubborn these managers were .
To be clear , an official bull market starts when the previous bull market high is surpassed .
However , we know many managers aren ’ t going by that definition because many shifted in August .
46 % said this is a bull market and 35 % said it ’ s a bear market rally .
That was @ @ @ @ @ @ @ With a CNN national presidential election poll showing Trump is only behind Biden by 4 % , Trump ’ s odds of winning increased to 46 % .
Trump doesn ’ t need to win the popular vote to win the election .
In fact , there ’ s only a 20 % chance he does .
The table above shows some of the policy goals that weren ’ t accomplished in past terms .
However , keep in mind the GOP cut taxes this past term .
If the Democrats win the @ @ @ @ @ @ @ grandiose plans done , but they are likely to at least raise taxes .
A corporate tax increase would hurt earnings .
The stock market has rallied in spite of this potential negative .
It would be surprising to see stocks decline on this potential now because it has been such an obvious risk for over a year .
Stocks might react more if favorable Biden polls come out .
They also will likely decline when tax policy is debated in 2021 if the Dems win .
The jobless benefits going out are @ @ @ @ @ @ @ rules .
The hope is the labor market improves enough to where this doesn ’ t matter much .
That ’ s tough because there are still more than double continued claims now than there were at the peak of the last recession .
There also might be a stimulus passed this fall when Congress is back in session .
Fund managers moved back into value , banks , small caps , and Europe .
The Dems might not do anything major from 2020 to 2024 if they win , but they will @ @ @ @ @

by UPFINA
Even though the labor market was tight at the end of the last expansion and credit card debt wasn’t nearly as big of an issue as it was in the previous cycle, the percentage of American Express loans 30 days past due creeped up from 0.9% in 2015 to 1.7% in 2019. This could be an individual company issue with lending standard changes. That being said, the recent decline to 1.4% which is the lowest since July 2019 was related to the macro picture. This recession was a boon for the workers who were laid off and got more money from unemployment benefits than their regular job. They paid off their credit card debt because they didn’t know when they would get their jobs back.
American Express loans that are 30-days past due in July dropped to the lowest level in a year. $AXP pic.twitter.com/Xctptf5vpY — Bespoke (@bespokeinvest) August 17, 2020
The details of Trump’s $300 per week unemployment benefits executive order are coming out and the results look bad. Many states need to upgrade their systems to adjust to the order. Some states aren’t giving out benefits, some benefits will only last a few weeks, and 1 million workers might not qualify because they make less than $100 per week in benefits. We can’t go into every state’s rules regarding these benefits. It’s sufficient to say this won’t be the same boon as the $600 in additional weekly payments that ended last month were.
The chart below shows the decline in disbursements. The recent decline in unemployment benefits is $15 billion per week which is almost 4% of GDP. Congress is unlikely to act this month as it’s on recess. A stock market correction or weak economic data point could spur a bill, but neither look to be coming soon.
Since the $600/week FPUC expired, actual UI payments out the door have fallen by $15 billion per week. That's the equivalent of almost 4% of GDP. pic.twitter.com/mIyb1kEPEB — Ernie Tedeschi (@ernietedeschi) August 17, 2020
The August labor report will probably be strong based on the recent jobless claims reading. The S&P 500 is within 1% of its record high. The hope is the labor market strengthens enough to allow the economy to stand on its own. If continuing claims fall 500,000 per week for 18 weeks, they only will fall to the previous recession spike. It’s dubious that unemployed workers will have enough money to get through the next 4 months. The good news is they have some extra savings, so if a stimulus is passed in September, here won’t be a major economic hiccup.
600,000 Jobs Added In August
The alternative data led us in the wrong direction when forecasting the July labor report. Even the official data suggested a weak report was coming. Keep that in mind when we review the chart below.
Homebase data show a small decline in hiring b/w July and Aug survey weeks but Aug usually declines so the data are consistent with a roughly 600k SA gain for August payrolls. Unfortunately fiscal negotiations likely need a round of bad data or market correction to focus energies pic.twitter.com/AfsXvBr2St — Julia Coronado, Ph.D. (@jc_econ) August 17, 2020
The Homebase coincident employment index for the BLS’s survey week suggests the labor market got slightly worse. If you adjust for seasonality, there will be about 600,000 jobs created. (There should be 320,000 temporary government jobs added because of the census). That would be a step below July’s report, but it probably wouldn’t be weak enough to spur a stimulus. We would get the positive headline that unemployment rate fell to single digits.
We are primarily funded by readers. Please subscribe and donate to support us!
Let’s wait for the jobless claims report this Thursday to see if initial claims fall sharply like last week, in which case more jobs may have been created in August than July. Either way, it’s very unlikely that this report causes a stimulus to be passed. Keep in mind, it’s possible continuing claims fall more than our 500,000 per week suggestion. In that case, the labor market recovery would minimize the impact of unemployment benefits being taken away.
Where Managers Are Investing In August
Fund managers added to equities in August and still had a negative z score in terms of positioning. If you follow American stocks, you might be surprised by this. That’s because it was reverse for America as positioning was taken off, while the z score was still positive. Managers rotated to European equities and towards value stocks over growth. Many of the tech growth names in America peaked in July. Managers also put more money in small caps and banks. The headline of the chart below shows this as a rotation to inflation. You can also say, it’s buying the laggards in an overbought market. U.S. stocks are up so much, managers might be looking towards the laggards to find bargains.
As of July, more fund managers still said this was a bear market rally than said it was a bull market (47% vs 40%). This gives you an idea of how stubborn these managers were. To be clear, an official bull market starts when the previous bull market high is surpassed. However, we know many managers aren’t going by that definition because many shifted in August. 46% said this is a bull market and 35% said it’s a bear market rally. That was before a new high was reached.
Political Ideas
With a CNN national presidential election poll showing Trump is only behind Biden by 4%, Trump’s odds of winning increased to 46%. Trump doesn’t need to win the popular vote to win the election. In fact, there’s only a 20% chance he does.
I was promised there would be a revolution pic.twitter.com/5vO5WnFQzk — Nick (@NickatFP) August 17, 2020
The table above shows some of the policy goals that weren’t accomplished in past terms. However, keep in mind the GOP cut taxes this past term. If the Democrats win the election, they might not get their grandiose plans done, but they are likely to at least raise taxes. A corporate tax increase would hurt earnings. The stock market has rallied in spite of this potential negative. It would be surprising to see stocks decline on this potential now because it has been such an obvious risk for over a year. Stocks might react more if favorable Biden polls come out. They also will likely decline when tax policy is debated in 2021 if the Dems win.
Conclusion
The jobless benefits going out are a mess with different states having different rules. The hope is the labor market improves enough to where this doesn’t matter much. That’s tough because there are still more than double continued claims now than there were at the peak of the last recession. There also might be a stimulus passed this fall when Congress is back in session. Fund managers moved back into value, banks, small caps, and Europe. The Dems might not do anything major from 2020 to 2024 if they win, but they will likely raise corporate taxes.


investmentwatchblog--2020-08-19--CENTRAL BANKS GOLD ACTIVITY

CENTRAL BANKS GOLD ACTIVITY

The $ 20 trillion U.S. Treasury market is giving the Fed a thumbs-up for its efforts to revive inflation from @ @ @ @

The $20 trillion U.S. Treasury market is giving the Fed a thumbs-up for its efforts to revive inflation from the coronavirus pandemic t.co/PH91BagjEN
— Win Smart, CFA (@WinfieldSmart) August 19, 2020


investmentwatchblog--2020-08-19--Retail earnings reports are sending a message: The US economic recovery may be faltering… and the st

Retail earnings reports are sending a message: The US economic recovery may be faltering… and the stock market is way too expensive now

Retail earnings reports are sending a message : The US economic recovery may be faltering t.co/mJe9vBzTl9 The stock market is @ @ @ @ @ which is another way to say that I did n't see this record coming .
@ @ @ @ @ housing market to help the economy recover , and deepen inequality yet further .
t.co/IsKC9l3o1J @ @ @ @ @ this cycle , the Fed 's balance sheet will expand by more than during QE1 @ @ @ @ @ .
The amazing fact ?
The ECB expansion is even larger .
pic.twitter.com/WxnwYMJMLh

Retail earnings reports are sending a message: The US economic recovery may be faltering t.co/mJe9vBzTl9
The stock market is way too expensive now, which is another way to say that I didn't see this record coming. And watch out for the housing market to help the economy recover, and deepen inequality yet further. t.co/IsKC9l3o1J via @bopinion pic.twitter.com/330sYAWyo2
In this cycle, the Fed's balance sheet will expand by more than during QE1, 2 and 3 combined.
The amazing fact? The ECB expansion is even larger. pic.twitter.com/WxnwYMJMLh
— Daniel Lacalle (@dlacalle_IA) August 18, 2020


investmentwatchblog--2020-08-19--Apple becomes first U.S. company to reach a $2 trillion market cap

Apple hit a market cap of $ 2 trillion , doubling in valuation in just over two years .
It @ @ @ @ @ traded U.S. company to reach the $ 2 trillion milestone .
Apple first reached a @ @ @ @ @ on Aug. 2 , 2018 .
Wall Street has largely expected Apple to be the @ @ @ @ @ 2 trillion mark .
On July 31 , Apple surpassed the state oil giant Saudi @ @ @ @ @ ’ s most valuable publicly traded company .

Apple hit a market cap of $2 trillion, doubling in valuation in just over two years. It’s the first publicly traded U.S. company to reach the $2 trillion milestone.
Apple first reached a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected Apple to be the first to surpass the $2 trillion mark. On July 31, Apple surpassed the state oil giant Saudi Aramco to become the world’s most valuable publicly traded company.


investmentwatchblog--2020-08-19--Apple iPhone 12 To Be Manufactured In Bengaluru; Likely To Cost Less Than iPhone 11

Good news for iPhone enthusiasts .
As a part of the Make In India initiative , Apple recently started to @ @ @ @ @ , at a plant located in Tamil Nadu .
Now , according to a report @ @ @ @ @ will start manufacturing the upcoming iPhone 12 in Bengaluru and the company is investing huge @ @ @ @ @ create more than 10,000 jobs .
One of the ex-minister of Karnataka has tweeted that @ @ @ @ @ the iPhone 12 in Narsapura , a place near the capital city of Karnataka .
@ @ @ @ @ manages the operations in the Bengaluru based manufacturing facility .

Good news for iPhone enthusiasts. As a part of the Make In India initiative, Apple recently started to manufacture iPhone 11 in India, at a plant located in Tamil Nadu.
Now, according to a report from Business Standard, Apple will start manufacturing the upcoming iPhone 12 in Bengaluru and the company is investing huge sums, which will also create more than 10,000 jobs.
We are primarily funded by readers. Please subscribe and donate to support us!
One of the ex-minister of Karnataka has tweeted that the company will start manufacturing the iPhone 12 in Narsapura, a place near the capital city of Karnataka. Wistron is the company that manages the operations in the Bengaluru based manufacturing facility.
Good news for #Bengaluru, with @Apple planning to manufacture iPhone 12 in a new facility at Narsapura. More investment to flow in & nearly 10,000 jobs maybe created.#China’s loss to be #India’s gain. t.co/3YysRbm7mR — Dinesh Gundu Rao/ದಿನೇಶ್ ಗುಂಡೂರಾವ್ (@dineshgrao) August 18, 2020
news.yahoo.com/apple-iphone-12-manufactured-bengaluru-081142069.html


investmentwatchblog--2020-08-19--Why is it ‘magnanimous’ when Jacinda Ardern delays an election but an ‘assault on democracy’ when Tr

Why is it ‘magnanimous’ when Jacinda Ardern delays an election but an ‘assault on democracy’ when Trump merely suggests it?

Ardern has postponed the elections in New Zealand for a month so the country can deal with a new spike in Covid-19 cases .
The Kiwi PM has become something of a darling of liberal outlets around the world who larrup praise on her progressive outlook , being a female world leader and , most recently , the way she has dealt with the pandemic .
New Zealand has so far only had 22 deaths related to Covid-19 , which is obviously all down to Ms Ardern and nothing to do with the fact that New Zealand is sparsely populated @ @ @ @ @ @ @ any other country and has five times as many sheep as people .
Nevertheless , due to her impeccable woke credentials Jacinda ’ s every action has been lauded by the Western liberal press .
Her government ’ s pursuit of a “ well-being budget ” rather than actual economic growth was hailed as a “ progressive beacon in a populist world , ” she was lauded for bringing her baby with her to the UN General Assembly for no obvious reason whatsoever , and for saying all the right things about racism @ @ @ @ @ @ @ much of the West ’ s liberal media Saint Jacinda of Wellington can do no wrong , which is why now she has delayed New Zealand ’ s election for a month , from September 19 to October 17 , it is obviously a righteous , splendid thing for her to do .
According to the Guardian “ By delaying the New Zealand election Jacinda Ardern appears magnanimous and conciliatory.
” She is putting the health of the people first , rather than cynically chasing her own political ambitions .
She is accepting @ @ @ @ @ @ @ take place if “ longstanding electoral activities as door-knocking , public meetings , and generally having face-to-face contact ” are suppressed .
Who could argue that democracy was more important than dealing with a disease currently affecting 78 people in the country , just five of which require hospital treatment ?
People ’ s lives are at risk for God ’ s sake .

Ardern has postponed the elections in New Zealand for a month so the country can deal with a new spike in Covid-19 cases. The Kiwi PM has become something of a darling of liberal outlets around the world who larrup praise on her progressive outlook, being a female world leader and, most recently, the way she has dealt with the pandemic.
New Zealand has so far only had 22 deaths related to Covid-19, which is obviously all down to Ms Ardern and nothing to do with the fact that New Zealand is sparsely populated, over a thousand miles away from any other country and has five times as many sheep as people.
Nevertheless, due to her impeccable woke credentials Jacinda’s every action has been lauded by the Western liberal press. Her government’s pursuit of a “well-being budget” rather than actual economic growth was hailed as a “progressive beacon in a populist world,” she was lauded for bringing her baby with her to the UN General Assembly for no obvious reason whatsoever, and for saying all the right things about racism and the failure of capitalism.
For much of the West’s liberal media Saint Jacinda of Wellington can do no wrong, which is why now she has delayed New Zealand’s election for a month, from September 19 to October 17, it is obviously a righteous, splendid thing for her to do. According to the Guardian “By delaying the New Zealand election Jacinda Ardern appears magnanimous and conciliatory.” She is putting the health of the people first, rather than cynically chasing her own political ambitions. She is accepting that free and fair elections cannot take place if “longstanding electoral activities as door-knocking, public meetings, and generally having face-to-face contact” are suppressed. Who could argue that democracy was more important than dealing with a disease currently affecting 78 people in the country, just five of which require hospital treatment? People’s lives are at risk for God’s sake.


investmentwatchblog--2020-08-19--Australian PM backtracks – vaccine won’t be mandatory!

News.com.au revealed today that the Morrison Government confirmed a landmark agreement with drug giant AstraZeneca to manufacture one of the @ @ @ @ @ coronavirus vaccines currently being developed by Oxford University researchers .
If it ’ s proved @ @ @ @ @ Minister Scott Morrison believes the agreement will ensure Australians will be among the first countries @ @ @ @ @ the jab , revealing this morning it could be available to Aussies as soon as @ @ @ @

News.com.au revealed today that the Morrison Government confirmed a landmark agreement with drug giant AstraZeneca to manufacture one of the world’s most promising coronavirus vaccines currently being developed by Oxford University researchers.
If it’s proved safe to use, Prime Minister Scott Morrison believes the agreement will ensure Australians will be among the first countries in the world to secure the jab, revealing this morning it could be available to Aussies as soon as early next year.


investmentwatchblog--2020-08-19--Warren Buffett Shorts The Economy, Runs Away From U.S. Financial Sector

It must be Monday , because the price of silver skyrocketed .
From $ 26.10 , it shot up to $ 27.50 , or +5.4 % .
The last time we wrote about silver was after its crash to $ 25 .
Silver is now priced 10 % above that low point .
But First : The Sage Does a 180 The big news in the monetary metals is that Warren Buffett—famed disliker of gold—sold bank stocks to buy gold mining shares .
What ’ s interesting to us is not that we think he has any special powers to @ @ @ @ @ @ @ , he famously bet on silver , and lost .
What ’ s interesting is that he understands , intuitively , that owning a piece of gold is not an investment .
He may have been disingenuous in his dismissals of gold , which he did to defend the regime of irredeemable paper .
However , he has a point .
A lump of metal does not produce anything .
And unless he has suddenly changed his views , his buying a gold mining stock indicates that he now thinks that it ’ @ @ @ @ @ @ @ produces nothing—and of course loses nothing—than to own stocks .
Or at least bank stocks .
Yes , we know that he did not buy gold metal .
He bought a company that he expects to be geared to the gold price .
We won ’ t opine on Barrick shares , but we note that Buffett is not alone in expecting that a lump of metal will outperform stocks .
Or , to put this in clearer , starker terms : stocks will fall when measured in gold ( but perhaps not @ @ @ @ @ @ @ Buffett is indeed shorting , if not the economy , then at least commercial bank , investment bank , and credit card companies .
He compares them to a cube of gold—and finds them wanting .
We hope that our message to the gold community may be heard above the din of people cheering .
It is not good when business prospects are bad , and doubly not good when the prospects of banks are bad .
We are not asking anyone to shed a tear for banks .
We are looking through @ @ @ @ @ @ @ that is real estate .
Residential , commercial , retail , restaurant , and hotel are all going to experience massive defaults by borrowers .
Including the loans that financed those glorious and hip interiors .
We are also looking through the banks to the liability side .
Most people think of a bank ’ s liabilities as money .
Banks borrow from everyone , to make loans .
If those loans go bad , then that puts stress on the bank ’ s ability to repay .
Now we see that Warren @ @ @ @ @ @ @ well , and who has invested in it for decades , is running away from it .
And we expect many others are running too .
Here ’ s the chart you ’ ve been waiting for : Two things stand out on this chart .
One , the basis correlates with the price .
That is , the price action was primarily driven by futures trading .
Two , there are many moments where the basis drops when the price is rising .
That means , at those times , the rising @ @ @ @ @ @ @ ( marked with “ Ph ” ) .
We see a few basis spikes , when futures buyers got aggressive ( marked with “ F ” ) .
However , not nearly the number of times that the basis dipped .
It ’ s almost as if this chart is saying : buyers of silver metal want more metal .
Based on long history , if the price of gold is rising by great percentages over a period of years then the price of silver typically rises by an even-greater percentage .
Funny @ @ @ @ @ @ @ gold can be productive and procreative .
As a result , they earn interest on their silver and gold .
Now .
Today .

by Keith Weiner of Monetary-Metals
It must be Monday, because the price of silver skyrocketed.
From $26.10, it shot up to $27.50, or +5.4%. The last time we wrote about silver was after its crash to $25. Silver is now priced 10% above that low point.
But First: The Sage Does a 180
The big news in the monetary metals is that Warren Buffett—famed disliker of gold—sold bank stocks to buy gold mining shares. What’s interesting to us is not that we think he has any special powers to predict the gold price. After all, he famously bet on silver, and lost.
What’s interesting is that he understands, intuitively, that owning a piece of gold is not an investment. He may have been disingenuous in his dismissals of gold, which he did to defend the regime of irredeemable paper. However, he has a point. A lump of metal does not produce anything.
And unless he has suddenly changed his views, his buying a gold mining stock indicates that he now thinks that it’s better to own a metal which produces nothing—and of course loses nothing—than to own stocks. Or at least bank stocks.
Yes, we know that he did not buy gold metal. He bought a company that he expects to be geared to the gold price.
And Here’s Why
We won’t opine on Barrick shares, but we note that Buffett is not alone in expecting that a lump of metal will outperform stocks. Or, to put this in clearer, starker terms: stocks will fall when measured in gold (but perhaps not, when measured in dollars).
Buffett is indeed shorting, if not the economy, then at least commercial bank, investment bank, and credit card companies. He compares them to a cube of gold—and finds them wanting.
We Fully Agree, Warren
We hope that our message to the gold community may be heard above the din of people cheering. It is not good when business prospects are bad, and doubly not good when the prospects of banks are bad. We are not asking anyone to shed a tear for banks. We are looking through the banks to the slow-motion train wreck that is real estate. Residential, commercial, retail, restaurant, and hotel are all going to experience massive defaults by borrowers. Including the loans that financed those glorious and hip interiors.
We are primarily funded by readers. Please subscribe and donate to support us!
We are also looking through the banks to the liability side. Most people think of a bank’s liabilities as money. Banks borrow from everyone, to make loans. If those loans go bad, then that puts stress on the bank’s ability to repay.
Now we see that Warren Buffett, who knows the finance business well, and who has invested in it for decades, is running away from it. And we expect many others are running too.
Monday’s Silver Activity
Here’s the chart you’ve been waiting for:
Two things stand out on this chart.
One, the basis correlates with the price. That is, the price action was primarily driven by futures trading.
Two, there are many moments where the basis drops when the price is rising. That means, at those times, the rising price was the buying of physical metal (marked with “Ph”).
We see a few basis spikes, when futures buyers got aggressive (marked with “F”). However, not nearly the number of times that the basis dipped.
It’s almost as if this chart is saying: buyers of silver metal want more metal.
Based on long history, if the price of gold is rising by great percentages over a period of years then the price of silver typically rises by an even-greater percentage.
Funny thing…Monetary Metals’ clients already knew that gold can be productive and procreative. As a result, they earn interest on their silver and gold. Now. Today.


investmentwatchblog--2020-08-19--The “Speculative Bubble” in Gold and Silver

Just because prices have been rallying , the market generalists and their sycophant media have been pushing the idea that gold and silver are somehow in a “ speculative bubble ” .
However , even just a quick , basic review of the COMEX market internals reveals that this is nothing but lazy misinformation .
Since we ’ re going to be talking about the CFTC-generated Commitment of Traders and Bank Participation Reports today , we must begin as we always do when these reports are cited…with a disclaimer .
In the past , JPM and other bullion banks have @ @ @ @ @ @ @ information for these reports .
Therefore , you must always take this information with at least a few small grains of salt .
Again , the prevailing notion being put forth by the market generalists and precious metal permabears is that both gold and silver are in some sort of speculative bubble .
Here ’ s just one example .
This article is from CNBC , and it cites a “ strategist ” at TD Bank : www.cnbc.com/2020/08/17/gold-markets-us-ch… As an aside , this is the same TD Bank that Eric Sprott and I @ @ @ @ @ @ @ Wrap-Up .
( Link : www.sprottmoney.com/Blog/price-manipulation-and-a-case-for-physical-silver-weekly-wrap-up-aug-14-2020.html ) A regular listener had written in to inform us of his troubles with TD Bank .
Now that the bank has declined to give him his silver , it seems the bank may have been defrauding him by charging him monthly storage fees for unallocated metal .
See below : Poor guy .
My fellow precious metals advocates always advise physical delivery for your precious metal holdings , and if the size of your position is too great , only vault your metal at trusted storage @ @ @ @ @ @ @ relies upon the trustworthiness of a Bank—is a recipe for disaster .
Anyway , back to the point of this week ’ s post… All of this talk about a “ speculative bubble ” is easily dismissed by a quick perusal of the latest CFTC data .
It ’ s so easy , in fact , that it makes me wonder whether or not those touting the “ bubble ” are simply promoting their own agenda .
The CFTC generates a Commitment of Traders report every Friday from data surveyed the previous Tuesday @ @ @ @ @ @ @ is historical context .
One report on its own reveals nothing .
However , placing the data into the context of ten years ’ worth of reports reveals a lot….so let ’ s do that .
Your most recent CoT data can be found through the CFTC ’ s website : www.cftc.gov/MarketReports/CommitmentsofTr… As of last Tuesday , the COMEX gold CoT looked like this ( handy spreadsheet courtesy of Goldseek ) : Those are a lot of big numbers , but let ’ s place them into historical context : • The Large @ @ @ @ @ @ @ , etc . )
NET long position was 224,053 contracts .
Again , that seems like a lot .
However , that ’ s the smallest seen since the survey of June 18 , 2019 .
And where was price that day ?
$ 1347 .
• The Commercial ( bullion banks and the few producers that still hedge ) NET short position was 268,331 contracts .
That ’ s the smallest since the report surveyed June 16 of this year .
Price that day ?
$ 1729 .
So , is the @ @ @ @ @ @ @ and due for a “ wash cycle ” ?
Not at all .
Not by a long shot .
And then let ’ s look at the latest monthly Bank Participation Report .
This data , taken from the first CoT survey of each month , purports to show the summary positions of the largest U.S. and non-U.S. Banks .
For the most recent report surveyed on August 4 , the CFTC reported the positions of four U.S. Banks and thirty non-U.S. Banks .
The totals are shown below , and you can @ @ @ @ @ @ @ www.cftc.gov/MarketReports/BankParticipati… All totaled , these thirty-four Banks report a NET short position of 131,761 COMEX gold contracts .
Again , that sounds like a lot…but is it ?
As recently as last January , this combined Bank NET position was at multi-year highs of 225,111 contracts short .
The price on January 7 when the survey was taken ?
$ 1574 .
In fact , this latest report actually revealed the smallest Bank NET short position since May of 2019 .
The price of COMEX gold from that May 7 , 2019 survey @ @ @ @ @ @ @ How about that ?
And before we go , we should definitely check the COMEX silver CoT , too .
With price having rallied over 50 % in the past month , there are cries from the rooftops about “ speculative bubbles ” here , too .
But again , all you have to do is check the actual data and compare it to the historical data .
Here ’ s last week ’ s Commitment of Traders report ( again with thanks to Goldseek ) : • The Large Speculators are NET @ @ @ @ @ @ @ Like COMEX gold , this is also the smallest reported position since June 18 , 2019 .
Price that day ?
$ 14.98 .
• The Commercials are NET short 45,540 contracts .
This is their smallest NET position since May 19 , 2020 .
Price that day ?
$ 17.89 .
• And one more…At TFMR , I track what I call the Large Spec Net Long Ratio .
By dividing the total number of Large Spec longs by the total number of Large Spec shorts , I get a ratio that @ @ @ @ @ @ @ of contract open interest over time .
What I ’ ve learned is that any ratio over 4:1 is a bearish signal while any ratio under 2:1 is considered bullish .
As of last Tuesday , the ratio is 1.54:1 .
This is the lowest since July 9 , 2019 .
Price that day ?
$ 15.07 .
So what ’ s the point of this exercise ?
While prices can fluctuate in the short-term due to myriad factors , the notion that COMEX gold and silver are due to collapse any day @ @ @ @ @ @ @ speculative bubble ” is simply not true .
Anyone willing to make even a cursory review of the CFTC data can come to that conclusion .
Thus , consider yourself warned the next time you see or hear a supposed “ precious metals expert ” attempt to tell you otherwise .

by Craig Hemke via Sprott Money News
Just because prices have been rallying, the market generalists and their sycophant media have been pushing the idea that gold and silver are somehow in a “speculative bubble”. However, even just a quick, basic review of the COMEX market internals reveals that this is nothing but lazy misinformation.
Since we’re going to be talking about the CFTC-generated Commitment of Traders and Bank Participation Reports today, we must begin as we always do when these reports are cited…with a disclaimer. In the past, JPM and other bullion banks have been repeatedly fined for deliberately submitting false information for these reports. Therefore, you must always take this information with at least a few small grains of salt.
• www.wsj.com/articles/cftc-fines-j-p-morgan…
• www.cftc.gov/PressRoom/PressReleases/7347-…
With that said…
Again, the prevailing notion being put forth by the market generalists and precious metal permabears is that both gold and silver are in some sort of speculative bubble. Here’s just one example. This article is from CNBC, and it cites a “strategist” at TD Bank: www.cnbc.com/2020/08/17/gold-markets-us-ch…
As an aside, this is the same TD Bank that Eric Sprott and I discussed in last Friday’s Weekly Wrap-Up. (Link: www.sprottmoney.com/Blog/price-manipulation-and-a-case-for-physical-silver-weekly-wrap-up-aug-14-2020.html) A regular listener had written in to inform us of his troubles with TD Bank. Now that the bank has declined to give him his silver, it seems the bank may have been defrauding him by charging him monthly storage fees for unallocated metal. See below:
Poor guy. My fellow precious metals advocates always advise physical delivery for your precious metal holdings, and if the size of your position is too great, only vault your metal at trusted storage companies. Any other strategy—particularly one that relies upon the trustworthiness of a Bank—is a recipe for disaster.
Anyway, back to the point of this week’s post…
All of this talk about a “speculative bubble” is easily dismissed by a quick perusal of the latest CFTC data. It’s so easy, in fact, that it makes me wonder whether or not those touting the “bubble” are simply promoting their own agenda.
The CFTC generates a Commitment of Traders report every Friday from data surveyed the previous Tuesday. The key to understanding these reports is historical context. One report on its own reveals nothing. However, placing the data into the context of ten years’ worth of reports reveals a lot….so let’s do that.
Your most recent CoT data can be found through the CFTC’s website: www.cftc.gov/MarketReports/CommitmentsofTr…
As of last Tuesday, the COMEX gold CoT looked like this (handy spreadsheet courtesy of Goldseek):
Those are a lot of big numbers, but let’s place them into historical context:
• The Large Speculator (hedge funds, trading funds, etc.) NET long position was 224,053 contracts. Again, that seems like a lot. However, that’s the smallest seen since the survey of June 18, 2019. And where was price that day? $1347.
We are primarily funded by readers. Please subscribe and donate to support us!
• The Commercial (bullion banks and the few producers that still hedge) NET short position was 268,331 contracts. That’s the smallest since the report surveyed June 16 of this year. Price that day? $1729.
So, is the gold CoT overstretched in a speculative bubble and due for a “wash cycle”? Not at all. Not by a long shot.
And then let’s look at the latest monthly Bank Participation Report. This data, taken from the first CoT survey of each month, purports to show the summary positions of the largest U.S. and non-U.S. Banks. For the most recent report surveyed on August 4, the CFTC reported the positions of four U.S. Banks and thirty non-U.S. Banks. The totals are shown below, and you can see them yourself through this link: www.cftc.gov/MarketReports/BankParticipati…
All totaled, these thirty-four Banks report a NET short position of 131,761 COMEX gold contracts. Again, that sounds like a lot…but is it?
As recently as last January, this combined Bank NET position was at multi-year highs of 225,111 contracts short. The price on January 7 when the survey was taken? $1574.
In fact, this latest report actually revealed the smallest Bank NET short position since May of 2019. The price of COMEX gold from that May 7, 2019 survey date? $1283.
Hmmmm. How about that?
And before we go, we should definitely check the COMEX silver CoT, too. With price having rallied over 50% in the past month, there are cries from the rooftops about “speculative bubbles” here, too. But again, all you have to do is check the actual data and compare it to the historical data.
Here’s last week’s Commitment of Traders report (again with thanks to Goldseek):
Of note:
• The Large Speculators are NET long just 23,568 COMEX silver contracts. Like COMEX gold, this is also the smallest reported position since June 18, 2019. Price that day? $14.98.
• The Commercials are NET short 45,540 contracts. This is their smallest NET position since May 19, 2020. Price that day? $17.89.
• And one more…At TFMR, I track what I call the Large Spec Net Long Ratio. By dividing the total number of Large Spec longs by the total number of Large Spec shorts, I get a ratio that takes out the impact of varying levels of contract open interest over time. What I’ve learned is that any ratio over 4:1 is a bearish signal while any ratio under 2:1 is considered bullish. As of last Tuesday, the ratio is 1.54:1. This is the lowest since July 9, 2019. Price that day? $15.07.
So what’s the point of this exercise?
While prices can fluctuate in the short-term due to myriad factors, the notion that COMEX gold and silver are due to collapse any day now because they are in a “speculative bubble” is simply not true. Anyone willing to make even a cursory review of the CFTC data can come to that conclusion. Thus, consider yourself warned the next time you see or hear a supposed “precious metals expert” attempt to tell you otherwise.


investmentwatchblog--2020-08-19--SHOCKING: Chicago looters were college students, convicted felons, unemployed parents.

A group of looters busted for ransacking high-end stores in Chicago were mostly college students , unemployed parents and convicted @ @ @ @ @ report .
The night of mayhem came around an hour after police shot and injured @ @ @ @ @ claim fired at them first near his home in Englewood on Aug. 10 , the @ @ @ @ @ than a hundred people were arrested in connection to the looting and destruction , which @ @ @ @ @ officers and targeted high-end stores such Gucci , Dior and Apple , the outlet reported @ @ @ @ @ that a “ false rumor on social media ” that police had shot a child @ @ @ @ @

A group of looters busted for ransacking high-end stores in Chicago were mostly college students, unemployed parents and convicted felons, according to a report.
The night of mayhem came around an hour after police shot and injured a 20-year-old man who they claim fired at them first near his home in Englewood on Aug. 10, the Chicago Tribune reported.
More than a hundred people were arrested in connection to the looting and destruction, which injured more than a dozen officers and targeted high-end stores such Gucci, Dior and Apple, the outlet reported.
We are primarily funded by readers. Please subscribe and donate to support us!
Mayor Lori Lightfoot suggested that a “false rumor on social media” that police had shot a child sparked the neighborhood unrest.
nypost.com/2020/08/18/chicago-looters-were-college-students-convicted-felons-unemployed-parents/


investmentwatchblog--2020-08-19--THE MEDIA GASLIGHTING ISN’T WORKING: Most say ‘protests’ have become ‘riots,’ new high in support fo

THE MEDIA GASLIGHTING ISN’T WORKING: Most say ‘protests’ have become ‘riots,’ new high in support for police.

Support for police has surged past 4-1 in key battleground 2020 states , likely driven by concerns that “ peaceful ” Black Lives Matter protests have become more violent .
A new survey for Heritage Action For America found that opposition to defunding the police , part of the Black Lives Matter movement , has jumped to 79 % , with just 16 % supporting the defund plan .
That opposition to slashing police is the highest of any recent poll , and a strong indicator that the type of law and order message pushed by President Trump and the @ @ @ @ @ @ @ , Pennsylvania , and Wisconsin , where the survey was conducted .
Well , as we ’ ve seen , even the black community opposes defunding the police : Related : Fight The Mob : The Riots Reveal The Revolution .
“ The riots have exposed multiculturalism for what it is : a revolutionary movement , led by the Democratic Party , aimed at destroying the American way of life.
” MOSTLY PEACEFUL : Portland Antifa Rioters Again Try to Burn Down Police Union , Police Stand Down to ‘ Deescalate ’ the @ @ @ @ @ @ @ Minneapolis Police Union Chief and His Wife Outside His Home .
Texas will punish cities that defund police by freezing property tax after Austin cut $ 150 million THE ECONOMIC DAMAGE OF RIOTING LASTS FOR DECADES : How might the riots be responsible for these outcomes ?
The National Bureau of Economic Research suggests a number of ways : Property risk might seem higher in central city neighborhoods than before the riots , causing insurance premiums to rise ; taxes for income redistribution or more police and fire protection might increase , and @ @ @ @ @ @ @ place ; retail outlets might close ; businesses and employment opportunities might relocate ; middle and higher income households might move away ; burned out buildings might be an eyesore ; and so on .
These damaging aspects of riots , the authors find , apparently outweighed outside assistance directed toward the riot areas in the wake of the disturbances .
The Minnesota Reformer reported in mid-July that : At least 127 people are facing charges related to the unrest after Floyd ’ s death , according to a Reformer review of all @ @ @ @ @ @ @ U.S. Attorney ’ s Office , Hennepin County , Ramsey County , the city of St. Paul and the city of Minneapolis .
The vast majority of people charged are Minnesota residents — but fewer than half live in Minneapolis or St. Paul .
It might be fun for some people to travel to a riot , smash some stuff up , and head home thinking they have struck a blow for some cause or other .
The evidence shows that it is those left behind who pay the costs .

via washingtonexaminer:
Support for police has surged past 4-1 in key battleground 2020 states, likely driven by concerns that “peaceful” Black Lives Matter protests have become more violent. A new survey for Heritage Action For America found that opposition to defunding the police, part of the Black Lives Matter movement, has jumped to 79%, with just 16% supporting the defund plan. That opposition to slashing police is the highest of any recent poll, and a strong indicator that the type of law and order message pushed by President Trump and the GOP has support in Arizona, Florida, Pennsylvania, and Wisconsin, where the survey was conducted.
Well, as we’ve seen, even the black community opposes defunding the police:
Democrats don’t want you to see this. They’re scared that I’m exposing what life is like in Democrat run cities. That’s why I’m running for Congress
Because All Black Lives Matter
Baltimore Matters
And black people don’t have to vote Democrat
Help us win t.co/CSOjc9aQlS pic.twitter.com/XnEDTaDDIG — Kimberly Klacik (@kimKBaltimore) August 17, 2020
Related: Fight The Mob: The Riots Reveal The Revolution. “The riots have exposed multiculturalism for what it is: a revolutionary movement, led by the Democratic Party, aimed at destroying the American way of life.”
MOSTLY PEACEFUL: Portland Antifa Rioters Again Try to Burn Down Police Union, Police Stand Down to ‘Deescalate’ the Riot.
We are primarily funded by readers. Please subscribe and donate to support us!
BLM Mob Beats Piñatas of Minneapolis Police Union Chief and His Wife Outside His Home.
Texas will punish cities that defund police by freezing property tax after Austin cut $150 million
THE ECONOMIC DAMAGE OF RIOTING LASTS FOR DECADES:
How might the riots be responsible for these outcomes? The National Bureau of Economic Research suggests a number of ways: Property risk might seem higher in central city neighborhoods than before the riots, causing insurance premiums to rise; taxes for income redistribution or more police and fire protection might increase, and municipal bonds may be more difficult to place; retail outlets might close; businesses and employment opportunities might relocate; middle and higher income households might move away; burned out buildings might be an eyesore; and so on. These damaging aspects of riots, the authors find, apparently outweighed outside assistance directed toward the riot areas in the wake of the disturbances. The Minnesota Reformer reported in mid-July that: At least 127 people are facing charges related to the unrest after Floyd’s death, according to a Reformer review of all unrest-related charges filed so far by the U.S. Attorney’s Office, Hennepin County, Ramsey County, the city of St. Paul and the city of Minneapolis. The vast majority of people charged are Minnesota residents — but fewer than half live in Minneapolis or St. Paul. It might be fun for some people to travel to a riot, smash some stuff up, and head home thinking they have struck a blow for some cause or other. The evidence shows that it is those left behind who pay the costs.
h/t Glenn


investmentwatchblog--2020-08-19--Lowe’s reports blow-out quarter with 30% surge in revenue… Target reports a monster quarter — profit

Lowe’s reports blow-out quarter with 30% surge in revenue… Target reports a monster quarter — profits jump 80%, same-store sales set new record

Same-store sales growth : 24.3 % , vs. 7.6 % expected , according to StreetAccount survey

Revenue: $27.3 billion vs. $24.27 billion expected
Adjusted EPS: $3.75 vs. $2.95 expected
www.cnbc.com/2020/08/19/target-tgt-q2-2020-earnings.html
Adjusted EPS: $3.38, vs. $1.62 expected
Revenue: $23 billion, vs. $20.09 billion expected
Same-store sales growth: 24.3%, vs. 7.6% expected, according to StreetAccount survey


investmentwatchblog--2020-08-19--Take a look at the Bills that are pending in New York State. Remember, it’s only for your own good.

You can research each bill by going to the NY State Assembly website , here ’ s Assembly Bill A99 @ @ @ @ @ relates to the removal of cases , contacts and carriers of communicable diseases who are @ @ @ @ @ health

by bgny
You can research each bill by going to the NY State Assembly website, here’s Assembly Bill A99 to get you started which relates to the removal of cases, contacts and carriers of communicable diseases who are potentially dangerous to the public health
We are primarily funded by readers. Please subscribe and donate to support us!
www.nysenate.gov//legislation/bills/2019/A99


investmentwatchblog--2020-08-19--John Solomon: US Had Agreement with Julian Assange on Wikileaks Hillary Emails but Comey Killed It

This was an amazing clip !
John Solomon : US Had Agreement with Julian Assange on Wikileaks Hillary Emails but @ @ @

This was an amazing clip! John Solomon: US Had Agreement with Julian Assange on Wikileaks Hillary Emails but Comey Killed It
We are primarily funded by readers. Please subscribe and donate to support us!


investmentwatchblog--2020-08-19--In her Democratic National Convention Speech, AOC nominates Bernie Sanders for President.

BREAKING : In her Democratic National Convention Speech , @ AOC nominates Bernie Sanders for President .
pic.twitter.com/CW3nh0JauL

BREAKING: In her Democratic National Convention Speech, @AOC nominates Bernie Sanders for President. pic.twitter.com/CW3nh0JauL
— Benny (@bennyjohnson) August 19, 2020


investmentwatchblog--2020-08-19--Record-shattering Sichuan floods to hammer China’s Three Gorges Dam 2020/08/18

TAIPEI ( Taiwan News ) — Massive rains pounding Chongqing and much of Sichuan Province over the past few days have led to record-setting floods and alerts and are generating the highest inflow into the vaunted Three Gorges Dam yet this year , surpassing the huge quantities of water seen in four previous floods over the past three months .
In Sichuan and Chongqing , which sit on the upper reaches of the Yangtze River , days of torrential rain have caused numerous floods to break out .
The Changjiang Water Resources Commission ( CWRC ) of the Ministry of @ @ @ @ @ @ @ announced that the “ No.5 Flood ” of this year had formed on the upper reaches of the river and would pass through the Three Gorges Dam with an astonishing inflow rate of 70,000 cubic meters per second , a record for this year .
The Sichuan provincial government announced on Sunday ( Aug. 16 ) that it would send four more groups to disaster-stricken areas of Meishan , Ya ’ an , Chengdu , and Guangyuan to provide disaster relief , bringing the number of relief groups dispatched across the province to @ @ @ @ @ @ @ Sichuan provincial government dispatched groups to Mianyang and Deyang , two other cities where extensive flooding has been reported .

TAIPEI (Taiwan News) — Massive rains pounding Chongqing and much of Sichuan Province over the past few days have led to record-setting floods and alerts and are generating the highest inflow into the vaunted Three Gorges Dam yet this year, surpassing the huge quantities of water seen in four previous floods over the past three months.
In Sichuan and Chongqing, which sit on the upper reaches of the Yangtze River, days of torrential rain have caused numerous floods to break out. The Changjiang Water Resources Commission (CWRC) of the Ministry of Water Resources at 2:00 p.m on Monday announced that the “No.5 Flood” of this year had formed on the upper reaches of the river and would pass through the Three Gorges Dam with an astonishing inflow rate of 70,000 cubic meters per second, a record for this year.
The Sichuan provincial government announced on Sunday (Aug. 16) that it would send four more groups to disaster-stricken areas of Meishan, Ya’an, Chengdu, and Guangyuan to provide disaster relief, bringing the number of relief groups dispatched across the province to six. That same day, the Sichuan provincial government dispatched groups to Mianyang and Deyang, two other cities where extensive flooding has been reported.


investmentwatchblog--2020-08-19--Bond Bull Lacy Hunt Warns of a Huge Monetary Risk

Lacy Hunt at Hoisington Management has been a bond bull for three decades and accurately so .
If you are @ @ @ @ @ mind , he explained in a Bloomberg Interview .
The first half hour of our @ @ @ @ @ .
Even though the coronavirus pandemic has led to unprecedented Federal Reserve interventions and fiscal @ @ @ @ @ it was mostly a continuation of what he ’ s seen for years .
Then @ @ @ @ @ Monetary Theory and other novel policy ideas , like direct monetary financing .
That ’ @ @ @ @ @ to what he sees as a “ great risk ” in the years ahead .

via mishtalk:
Lacy Hunt has not yet changed his mind on where bond yields are headed but he has his eyes on one thing that could change his mind.
Lacy Hunt at Hoisington Management has been a bond bull for three decades and accurately so.
We are primarily funded by readers. Please subscribe and donate to support us!
If you are wondering what might change his mind, he explained in a Bloomberg Interview.
The first half hour of our discussion went about as expected. Even though the coronavirus pandemic has led to unprecedented Federal Reserve interventions and fiscal relief efforts, Hunt insisted it was mostly a continuation of what he’s seen for years. Then, I asked about Modern Monetary Theory and other novel policy ideas, like direct monetary financing. That’s when his tone shifted to what he sees as a “great risk” in the years ahead.
…


investmentwatchblog--2020-08-19--Takeaway from today: people who spent 3+ years humiliating themselves by automatically taking Russia

Takeaway from today: people who spent 3+ years humiliating themselves by automatically taking Russiagate claims on faith, no matter the available evidence & no matter how many times those claims later crumbled, haven’t learnt a single thing. The Russiagate Kool-Aid is strong.

Takeaway from today : people who spent 3+ years humiliating themselves by automatically taking Russiagate claims on faith , no @ @ @ @ @ no matter how many times those claims later crumbled , have n't learnt a single @ @ @ @ @ is strong .

Takeaway from today: people who spent 3+ years humiliating themselves by automatically taking Russiagate claims on faith, no matter the available evidence & no matter how many times those claims later crumbled, haven't learnt a single thing. The Russiagate Kool-Aid is strong. — Aaron Maté (@aaronjmate) August 19, 2020
News today:
Five takeaways from final Senate Intel Russia report – thehill.com/policy/national-security/512613-five-takeaways-from-final-senate-intel-russia-report
We are primarily funded by readers. Please subscribe and donate to support us!
The Senate Intelligence Committee on Tuesday released its long-awaited Russia interference report detailing significant contacts between the Trump campaign and Moscow during the 2016 election.
Russiagaters arrive to conspiracies on a blue bus the size of a cruise ship.
h/t The_In-Betweener


investmentwatchblog--2020-08-19--Likes manipulation by Google is another reason why people are questioning the potential of voter man

Likes manipulation by Google is another reason why people are questioning the potential of voter manipulation by the DNC and its supporters

Last night , YouTube had a larger amount of dislikes for the DNC ’ s poorly coordinated second night of @ @ @ @ @ , it ’ s apparent they have deleted dislikes to make it seem as if @ @ @ @ @ of the DNCs job in rallying their party to the public .
It ’ s @ @ @ @ @ their disconnection with reality .

by DRUMBSHIT
We are primarily funded by readers. Please subscribe and donate to support us!
Last night, YouTube had a larger amount of dislikes for the DNC’s poorly coordinated second night of the convention. This morning, it’s apparent they have deleted dislikes to make it seem as if more people are in favor of the DNCs job in rallying their party to the public. It’s manipulative and more signs of their disconnection with reality.


investmentwatchblog--2020-08-19--President Trump BANES Chinese company Huawei from buying computer chips, because of spying on Americ

President Trump BANES Chinese company Huawei from buying computer chips, because of spying on Americans

Washington : The Trump administration on Monday announced it will further tighten restrictions on Huawei Technologies , aimed at cracking down on its access to commercially available chips .
The US Commerce Department actions expand restrictions announced in May aimed at preventing the Chinese telecommunications giant from obtaining semiconductors without a special license – including chips made by foreign firms that have been developed or produced with US software or technology .
The administration also added 38 Huawei affiliates in 21 countries to the US government ’ s economic blacklist , the sources said , raising the total to 152 @ @ @ @ @ @ @ May 2019 .
Commerce Secretary Wilbur Ross told Fox Business the restrictions on Huawei-designed chips imposed in May “ led them to do some evasive measures .
They were going through third parties , ” Ross said .
Secretary of State Mike Pompeo said in a tweet that the US government “ dealt a direct blow to Huawei and the repressive Chinese Communist Party by further limiting Huawei ’ s ability to acquire US technology and compromise the integrity of the world ’ s networks and Americans ’ private information.
” With US-China @ @ @ @ @ @ @ Washington is pushing governments around to world to squeeze out Huawei , arguing it would hand over data to the Chinese government for spying .
Huawei denies it spies for China .
In an appearance on Fox on Monday , President Donald Trump accused Huawei , without evidence , of spying on Americans .
“ We don ’ t want their equipment in the United States because they spy on us , ” Trump said .

Washington: The Trump administration on Monday announced it will further tighten restrictions on Huawei Technologies, aimed at cracking down on its access to commercially available chips.
The US Commerce Department actions expand restrictions announced in May aimed at preventing the Chinese telecommunications giant from obtaining semiconductors without a special license – including chips made by foreign firms that have been developed or produced with US software or technology.
The administration also added 38 Huawei affiliates in 21 countries to the US government’s economic blacklist, the sources said, raising the total to 152 affiliates since Huawei was first added in May 2019.
Commerce Secretary Wilbur Ross told Fox Business the restrictions on Huawei-designed chips imposed in May “led them to do some evasive measures. They were going through third parties,” Ross said.
We are primarily funded by readers. Please subscribe and donate to support us!
Secretary of State Mike Pompeo said in a tweet that the US government “dealt a direct blow to Huawei and the repressive Chinese Communist Party by further limiting Huawei’s ability to acquire US technology and compromise the integrity of the world’s networks and Americans’ private information.”
With US-China relations at their worst in decades, Washington is pushing governments around to world to squeeze out Huawei, arguing it would hand over data to the Chinese government for spying. Huawei denies it spies for China.
In an appearance on Fox on Monday, President Donald Trump accused Huawei, without evidence, of spying on Americans. “We don’t want their equipment in the United States because they spy on us,” Trump said.
www.smh.com.au/world/north-america/us-tightens-restrictions-on-huawei-access-to-technology-chips-20200818-p55mp2.html


investmentwatchblog--2020-08-19--Shadow-gate: A short summary

Shadow-gate: A short summary

1 ) Imagine a pipeline where every single phone and electronic communication bundles of data in the USA flows to the NSA & is kept in a database for 72 hours .. so that your government can spy on people that are deemed dangerous .
( through a FISA court ) 2 ) Now imagine a bunch of Obama people , generals , private firms & 3 letter agency bosses who got together & secretly drilled a hole in the pipeline .. and redirected the data to their private servers , based overseas ( Germany , Ukraine , China etc.. @ @ @ @ @ @ @ learning AI software designed to target specific groups of people to accomplish certain goals : E.g .
: -Influence an election -induce riots -Promote a product -Influence people moods -push narratives etc.. etc..
This is done by using all the data they collected over the years on people , and creating statistical models of behavior for each individual , and then predicting how each individual will react to various stimulus , and by extent predict how entire groups or nations react .
4 ) Now imagine this system also provides talking points to @ @ @ @ @ @ @ direct the narrative 5 ) Finally this system is controlled by the ‘ deep state ’ globalists and operates now in every western nations on earth .
Sounds too crazy to be true ?
?
Check the video below : Trump to his credit , refused to engage in the targeted information warfare – despite the fact that Roger Stone advised him to .
Trump realized quickly this was a trap , and decided to distance himself from Roger Stone early in the campaign .
Clearly it was the right thing to do @ @ @ @ @ @ @ had been his friend for 40 years and never turned on him , and neither did Trump turn on Stone .
Loyalty is clearly one of Trump ’ s values .
Personally I don ’ t understand the big deal Alex Jones made on this documentary .
The fact that Stone would consider purchasing the services of a private firm engaging in information warfare when that ’ s precisely what the democrats do 24/7 100 % of the time seems , on the surface , reasonable .
The one big downfall of AI @ @ @ @ @ @ @ AI is highly subject to trolling .
When every ‘ journalists ’ in the country get their AI generated talking points at the same time , hoping the computers have done all the thinking for them …they suddenly all fall in the same traps at the same time !
!
Which is why Trump has been so successful at making the entire news and main stream media industry look dumb .
Finally : this is also the reason why Memes are so dangerous to them .
Sadly for them , the AI is @ @ @ @ @ @ @ .

1) Imagine a pipeline where every single phone and electronic communication bundles of data in the USA flows to the NSA & is kept in a database for 72 hours .. so that your government can spy on people that are deemed dangerous.(through a FISA court)
2) Now imagine a bunch of Obama people, generals, private firms & 3 letter agency bosses who got together & secretly drilled a hole in the pipeline .. and redirected the data to their private servers, based overseas (Germany, Ukraine, China etc..)
3) They then developed machine learning AI software designed to target specific groups of people to accomplish certain goals:
E.g.:
-Influence an election
-induce riots
-Promote a product
-Influence people moods
-push narratives
etc.. etc..
This is done by using all the data they collected over the years on people, and creating statistical models of behavior for each individual, and then predicting how each individual will react to various stimulus, and by extent predict how entire groups or nations react.
4) Now imagine this system also provides talking points to all the major news channel … to direct the narrative
5) Finally this system is controlled by the ‘deep state’ globalists and operates now in every western nations on earth.
Sounds too crazy to be true?? Check the video below:
About Trump and Roger Stone:
We are primarily funded by readers. Please subscribe and donate to support us!
Trump to his credit, refused to engage in the targeted information warfare – despite the fact that Roger Stone advised him to. Trump realized quickly this was a trap, and decided to distance himself from Roger Stone early in the campaign. Clearly it was the right thing to do in retrospect. Despite that – Stone had been his friend for 40 years and never turned on him, and neither did Trump turn on Stone. Loyalty is clearly one of Trump’s values.
Personally I don’t understand the big deal Alex Jones made on this documentary. The fact that Stone would consider purchasing the services of a private firm engaging in information warfare when that’s precisely what the democrats do 24/7 100% of the time seems, on the surface, reasonable.
The one big downfall of AI generated talking points for news is that AI is highly subject to trolling.
When every ‘journalists’ in the country get their AI generated talking points at the same time, hoping the computers have done all the thinking for them …they suddenly all fall in the same traps at the same time!!
Trolling is not COMPUTATIONAL!!!
Which is why Trump has been so successful at making the entire news and main stream media industry look dumb.
Finally: this is also the reason why Memes are so dangerous to them.
Sadly for them, the AI is not intelligent enough to deal with Memes.
h/t JADR


investmentwatchblog--2020-08-19--Massive industrial fire in Texas

Massive industrial fire in Texas

# Update Another view of this massive blaze in # GrandPrairie .
Latest @ GoodDayFox4 @ FOX4 pic.twitter.com/ApdrYFzfz2 # BREAKING @ @ @ @ @ A massive fire has been broken out in Grand Prairie , Texas .
There is @ @ @ @ @ fire is burning .
Reason is actually not clear why the incident happened.pic.twitter.com/V73rvU7rPl

#Update Another view of this massive blaze in #GrandPrairie . Latest @GoodDayFox4 @FOX4 pic.twitter.com/ApdrYFzfz2
#BREAKING [🇺🇸 #USA] A massive fire has been broken out in Grand Prairie, Texas.
There is a Industrial area where the fire is burning.
Reason is actually not clear why the incident happened.pic.twitter.com/V73rvU7rPl
— ISCResearch (@ISCResearch) August 19, 2020


investmentwatchblog--2020-08-19--Why Is The Dollar So Weak Lately?

Why Is The Dollar So Weak Lately?

Jason talks about why the US Dollar Index ( DXY ) is so weak lately .
Since late June , the DXY has continued to fall with little rallies .
According to global macro expert , Lyn Alden , of the $ 3 trillion or so in net US Treasury issuances this year so far in 2020 , foreigners have only bought $ 194 billion .
See her Tweet here : There are a number of fundamental reasons for this having to do with the poor state of the global economy and global trade and foreigners looking in horror at @ @ @ @ @ @ @ growth and M2 money supply growth .
Also , there is a record net short position in the Dollar Index now .
Normally this is a contrarian indicator in the past of a rally coming but who knows ?
Most of the US Treasury yield curve ( 1 month to 10 year ) is already within 60 basis points of each other .
Monitor the yield curve for free here : www.gurufocus.com/yield_curve… Is this officially yield curve control by the Fed yet ?
What will cause the Dollar to rally ?
Will it @ @ @ @ @ @ @ pulling on the other side of the Dollar Tug of War ?

Jason talks about why the US Dollar Index (DXY) is so weak lately. Since late June, the DXY has continued to fall with little rallies.
According to global macro expert, Lyn Alden, of the $3 trillion or so in net US Treasury issuances this year so far in 2020, foreigners have only bought $194 billion. See her Tweet here:
Treasury data for June is out today. The Foreign sector bought $60B in Treasuries in June. Overall foreign holdings of Treasuries are still below February levels, despite record Treasury issuance since then. pic.twitter.com/1TJTba3lKI — Lyn Alden (@LynAldenContact) August 17, 2020
There are a number of fundamental reasons for this having to do with the poor state of the global economy and global trade and foreigners looking in horror at the Fed’s official balance sheet growth and M2 money supply growth.
Also, there is a record net short position in the Dollar Index now. Normally this is a contrarian indicator in the past of a rally coming but who knows?
We are primarily funded by readers. Please subscribe and donate to support us!
Most of the US Treasury yield curve (1 month to 10 year) is already within 60 basis points of each other. Monitor the yield curve for free here: www.gurufocus.com/yield_curve…
Is this officially yield curve control by the Fed yet?
What will cause the Dollar to rally? Will it be the Dollar shortage that’s pulling on the other side of the Dollar Tug of War?


investmentwatchblog--2020-08-19--Sleepy Joe’s Quips in a Short Video…Not Firing on All Cylinders-DNC Nominee for the Fail

This is good….but bad .
He ’ s out off his nut .
I don ’ t think Joe Biden @ @ @ @ @ s if asked to do so : It ’ s really abusive to run this @ @ @ @ @ t think he could place a drive thru order .

This is good….but bad. He’s out off his nut.
I don’t think Joe Biden could recite the ABC’s if asked to do so:
It’s really abusive to run this man.
I don’t think he could place a drive thru order.
We are primarily funded by readers. Please subscribe and donate to support us!
“I’m going to beat Joe Biden”
“Hey Everyone, I’m Joe Biden’s Husband”
h/t Fluffy Pancakes


investmentwatchblog--2020-08-20--Does America Worship “A God Of Money”?

Does America Worship “A God Of Money”?

The one that you serve the most is the one that you really worship .
In America today , we don ’ t actually get down on our knees and pray to our stock market portfolios and the money in our bank accounts , but has our wealth become more important to us than anything else ?
It is well known that material comfort greatly motivates most Americans .
We tend to vote for the politicians that we perceive will be the best for our economy , we religiously track the performance of our investments , and for many of @ @ @ @ @ @ @ to us than any of our other goals .
We desperately want to “ do well ” , and we tend to exalt others that are “ doing well ” .
Of course “ doing well ” is defined primarily in financial terms in our society , and that is extremely unfortunate .
A poor man that has greatly loved his family and those around him his entire life is generally not considered to be “ successful ” , while a billionaire that may actually be living in emotional misery every day of @ @ @ @ @ @ @ example for all of us to follow .
Our priorities are all messed up , and I believe that we will ultimately deeply regret the great love that we have developed for the debt-fueled “ prosperity ” that we have been enjoying for so many years .
In the Sermon on the Mount , Jesus warned us that we can not serve two masters… Unfortunately , most Americans gave up on trying to serve God long ago .
Today , most of us are primarily interested in pursuing money , and this has @ @ @ @ @ @ @ endless greed .
In such an environment , it is easy to understand how the stock market has become such a national idol .
We take great pride in the performance of the stock market , and on Tuesday headlines all over the nation gleefully trumpeted the fact that the S & P 500 closed at an all-time record high… Of course it doesn ’ t actually make any sense at all that stock prices are hitting all-time highs right now .
We are in the midst of the worst economic downturn since @ @ @ @ @ @ @ and 56.2 million workers have filed new claims for unemployment benefits over the last 21 weeks .
But the Federal Reserve was absolutely determined to rescue the financial markets when they started to implode during the beginning of the COVID-19 pandemic , and the Fed has been successful in accomplishing that mission .
In particular , the big tech stocks have really benefitted from this latest rally , and on Wednesday Apple actually became the first 2 trillion dollar company in U.S. history… As stock prices have soared , this has sent the @ @ @ @ @ @ @ billionaires into the stratosphere .
In fact , if you add up the wealth of America ’ s 12 wealthiest billionaires , it now comes to a total of more than 1 trillion dollars… To most people in our society , these billionaires are people to be greatly admired .
In fact , most of them are treated like celebrities .
These days , names like Gates , Musk and Zuckerberg make national headlines even more frequently than our most cherished Hollywood stars .
Meanwhile , tens of millions of “ ordinary ” @ @ @ @ @ @ @ never had a year when more than 56 million Americans have filed new claims for unemployment benefits , and more Americans are losing their jobs with each passing day .
Mortgage delinquencies are rising at a very frightening pace , tens of millions of Americans can no longer pay their bills , food prices are starting to get totally out of control , and hordes of people are moving away from the major cities on both coasts .
For decades , the U.S. middle class has been eroding , and now that process @ @ @ @ @ @ @ one new study has found that the average American now needs 53 weeks of income per year just to pay for the basics… As Bank of America points out , while the recent covid shutdowns has thrown the economy into disarray with millions laid off and living on government stimulus checks , life for the vast majority of workers – i.e.
, those who comprise the country ’ s middle class – was already precarious before the pandemic , and nowhere is this more evident than in the Cost of Thriving Index .
@ @ @ @ @ @ @ weeks at the median wage to pay for big fixed costs like housing , health care , a car , and education ; fast forward to today when it takes a mathematically impossible 53 weeks of a 52-week year to buy those things .
Needing 53 weeks of income just to pay for the basics is a huge problem , because there are only 52 weeks in a year .
Unfortunately , this new economic crisis is just getting started .
Conditions are going to get much , much worse in the years @ @ @ @ @ @ @ going to be off the charts .
So what do you think is going to happen to our society when our “ god of money ” finally crumbles ?
When Americans realize that the thing that they have been living for more than anything else has been taken from them , we are going to see a nationwide temper tantrum that will be unlike anything that we have ever seen before .
In the end , life is not about how much stuff we can acquire or about how much money we can @ @ @ @ @ @ @ we have raised several generations of Americans that don ’ t understand what really matters in life , and our entire society will pay a very great price for our negligence .

by Michael Snyder
The one that you serve the most is the one that you really worship. In America today, we don’t actually get down on our knees and pray to our stock market portfolios and the money in our bank accounts, but has our wealth become more important to us than anything else? It is well known that material comfort greatly motivates most Americans. We tend to vote for the politicians that we perceive will be the best for our economy, we religiously track the performance of our investments, and for many of us our financial goals are more important to us than any of our other goals. We desperately want to “do well”, and we tend to exalt others that are “doing well”. Of course “doing well” is defined primarily in financial terms in our society, and that is extremely unfortunate. A poor man that has greatly loved his family and those around him his entire life is generally not considered to be “successful”, while a billionaire that may actually be living in emotional misery every day of his life is lifted up as an example for all of us to follow. Our priorities are all messed up, and I believe that we will ultimately deeply regret the great love that we have developed for the debt-fueled “prosperity” that we have been enjoying for so many years.
In the Sermon on the Mount, Jesus warned us that we cannot serve two masters…
“No one can serve two masters. For either he will hate the one and love the other, or else he will hold to the one and despise the other. You cannot serve God and money.”
Unfortunately, most Americans gave up on trying to serve God long ago. Today, most of us are primarily interested in pursuing money, and this has created a society that is filled with endless greed.
In such an environment, it is easy to understand how the stock market has become such a national idol. We take great pride in the performance of the stock market, and on Tuesday headlines all over the nation gleefully trumpeted the fact that the S&P 500 closed at an all-time record high…
On Tuesday, the S&P 500 rose 0.2% to 3,389.78, eclipsing its previous Feb. 19 high to finish at the highest closing level on record. That means this year’s bear market, or a drop of more than 20% from a peak, from the February high to the lows on March 23 was the shortest in history, according to S&P Dow Jones Indices.
Of course it doesn’t actually make any sense at all that stock prices are hitting all-time highs right now.
We are in the midst of the worst economic downturn since the Great Depression of the 1930s, and 56.2 million workers have filed new claims for unemployment benefits over the last 21 weeks.
But the Federal Reserve was absolutely determined to rescue the financial markets when they started to implode during the beginning of the COVID-19 pandemic, and the Fed has been successful in accomplishing that mission.
In particular, the big tech stocks have really benefitted from this latest rally, and on Wednesday Apple actually became the first 2 trillion dollar company in U.S. history…
High-flying stocks like Apple, Microsoft and Google parent Alphabet have powered this year’s rally, far outpacing the rest of the market as investors bet heavily they could prevail in a stay-at-home economy. On Wednesday, tech giant Apple was the first publicly traded company to top a $2 trillion valuation.
As stock prices have soared, this has sent the net worths of America’s tech billionaires into the stratosphere.
In fact, if you add up the wealth of America’s 12 wealthiest billionaires, it now comes to a total of more than 1 trillion dollars…
New research published Monday by the Institute for Policy Studies shows that the dozen richest American billionaires now collectively own more than $1 trillion in wealth, a finding one analyst described as “a disturbing milestone in the U.S. history of concentrated wealth and power.” According to IPS, a progressive think tank, the 12 top U.S. billionaires have seen their combined wealth soar by 40%—or $283 billion—since the coronavirus began spreading rapidly across the U.S. in mid-March, sparking widespread economic shutdowns and mass job loss.
To most people in our society, these billionaires are people to be greatly admired.
We are primarily funded by readers. Please subscribe and donate to support us!
In fact, most of them are treated like celebrities.
These days, names like Gates, Musk and Zuckerberg make national headlines even more frequently than our most cherished Hollywood stars.
Meanwhile, tens of millions of “ordinary” Americans are deeply suffering. We have never had a year when more than 56 million Americans have filed new claims for unemployment benefits, and more Americans are losing their jobs with each passing day.
Mortgage delinquencies are rising at a very frightening pace, tens of millions of Americans can no longer pay their bills, food prices are starting to get totally out of control, and hordes of people are moving away from the major cities on both coasts.
For decades, the U.S. middle class has been eroding, and now that process is rapidly accelerating. In fact, one new study has found that the average American now needs 53 weeks of income per year just to pay for the basics…
As Bank of America points out, while the recent covid shutdowns has thrown the economy into disarray with millions laid off and living on government stimulus checks, life for the vast majority of workers – i.e., those who comprise the country’s middle class – was already precarious before the pandemic, and nowhere is this more evident than in the Cost of Thriving Index. Consider that in 1985 it took 30 weeks at the median wage to pay for big fixed costs like housing, health care, a car, and education; fast forward to today when it takes a mathematically impossible 53 weeks of a 52-week year to buy those things.
Needing 53 weeks of income just to pay for the basics is a huge problem, because there are only 52 weeks in a year.
Unfortunately, this new economic crisis is just getting started. Conditions are going to get much, much worse in the years ahead, and the economic pain is going to be off the charts.
So what do you think is going to happen to our society when our “god of money” finally crumbles?
When Americans realize that the thing that they have been living for more than anything else has been taken from them, we are going to see a nationwide temper tantrum that will be unlike anything that we have ever seen before.
In the end, life is not about how much stuff we can acquire or about how much money we can stash in our accounts.
Unfortunately, we have raised several generations of Americans that don’t understand what really matters in life, and our entire society will pay a very great price for our negligence.