investmentwatchblog--2020-05-01--Berman: Game Over For Oil… The Economy Is Next

It ’ s game-over for most of the U.S. oil industry .
Prices have collapsed and storage is nearly full .
The only option for many producers is to shut in their wells .
That means no income .
Most have considerable debt so bankruptcy is next .
Peggy Noonan wrote in her column recently that “ this is a never-before-seen level of national economic calamity ; history doesn ’ t get bigger than this.
” That is the superficial view .
Coronavirus has changed everything .
The longer it lasts , the less the future will look anything like @ @ @ @ @ @ @ makers and economists are energy blind and can not , therefore , fully grasp the gravity or the consequences of what is happening .
Energy is the economy and oil is the most important and productive portion of energy .
U.S. oil consumption is at its lowest level since 1971 when production was only about 78 % of what it was in 2019 .
As goes oil , so goes the economy…down .
The old oil industry and the old economy are gone .
The energy mix that underlies the economy will be @ @ @ @ @ @ @ are unlikely to regain late 2018 levels .
Renewable sources will fall behind along with efforts to mitigate climate change .
2020 global liquids demand may average 20 mmb/d less than in 2019 ( Figure 1 ) .
This estimate is really a thought experiment because it is impossible to know what supply and demand are in the present much less in the next quarter or beyond .
This is a time of unimaginable flux and uncertainty because no one knows how long economic activity will be depressed , how long it will @ @ @ @ @ @ @ recover .
The estimate in Figure 1 differs from most forecasts in two important ways .
First , I believe that supply will fall much faster than most other sources .
That is because storage will soon be full and shutting in production will be the only option for many producers .
Figure 1 .
2020 global oil demand may average 20 million barrels per day lower than in 2019 .
Source : OPEC , IEA , Vitol , Trafigura , Goldman Sachs and Labyrinth Consulting Services , Inc. Second , I doubt @ @ @ @ @ @ @ in the third quarter despite the re-opening of businesses in the second .
That is because we are in a global depression .
Unemployment will remain high and consumers will be damaged from lack of income over the months of quarantine .
The truth is that I doubt that demand will ever recover .
Economies will re-start slowly .
A useful analogy is being at a traffic light behind 25 stopped cars .
The light will change from green to red before your car begins to move .
It may take several light @ @ @ @ @ @ @ side of the intersection .
U.S. consumption has fallen about 30 % from 20 mmb/d in January to 14 mmb/d in April .
Refinery intakes are already 25 % lower than in the first quarter of the year and will fall further as consumption decreases .
Refineries will close .
Most U.S. refineries require intermediate and heavy crude oil that must be imported .
Few U.S. grades of oil can be used to produce diesel without blending them with imported oil .
That is because they are too light to contain the organic @ @ @ @ @ @ @ refineries will not change this .
The world ’ s natural resource extraction , shipping and distribution system relies on diesel .
As refineries close and less diesel is produced , there will be lower levels of natural resource extraction , less manufacturing and less buying of goods .
Diesel can not be produced without first producing gasoline .
The U.S. has had a gasoline surplus since late 2014 and the current surplus is the highest in 5 years ( Figure 2 ) .
Figure 2 .
U.S. gasoline comparative inventory has increased @ @ @ @ @ @ @ a record level of 28.4 million barrels more than the five-year average .
Source : EIA and Labyrinth Consulting Services , Inc. Diesel demand is less elastic than gasoline demand because of its critical role in heavy transport .
What will happen to the excess produced gasoline if storage is full ?
Will it be burned ?
Those who see an opportunity for renewable energy in the demise of oil need to think again .
The manufacture of solar panels , wind turbines and electric cars depend on diesel all along the supply @ @ @ @ @ @ @ products .
A world in economic depression will default to the cheapest and most productive fuels .
Oil will be cheap and abundant for a long time .
There will be little money or appetite for the massive equipment changes that renewable sources require .
Climate change will not be high in the consciousness of people struggling to survive .
Figure 3 is another thought experiment in which I use tight oil rig count and output to estimate forward levels of U.S. production .
The normal trajectory is an estimate of how production @ @ @ @ @ @ @ lack of capital investment .
It suggests that tight oil production might decrease by about 50 % from 7 to 3.5 mmb/d by July 2021 .
Figure 3 .
Thought experiment based on rig count through April 2020 and 12-month lagged production .
Source : Baker Hughes , EIA DPR , Drilling Info and Labyrinth Consulting Services , Inc .
The shut-in trajectory suggests that tight oil production may fall below 3 mmb/d by June of this year .
Since tight oil accounts for about 55 % of U.S. output , total crude @ @ @ @ @ @ @ 12 mmb/d to 5.5 mmb/d by the end of the first half of 2020 .
This estimate is much more aggressive than EIA forecasts because EIA hasn ’ t adequately modeled the speed of shut in production with full storage levels .
Gross domestic product ( GDP ) is proportional to oil consumption ( Figure 4 ) .
That ’ s because oil is the economy .
Every aspect of production and use of goods and services requires burning fossil energy .
There are approximately 4.5 years of human labor in a barrel @ @ @ @ @ @ @ personal communication and The Oil Drum ) .
No other energy source comes close to that level of energy density .
Figure 4 .
Gross domestic product ( GDP ) is proportional to oil consumption Source : EIA , World Bank and Labyrinth Consulting Services , Inc. Those who believe that the world will function the same on lower energy density sources like wind and solar should review their old physics text books .
You can not fit 4.5 years of work from sunlight or wind into the 5.6 cubic feet space of @ @ @ @ @ @ @ analysts recently estimated that U.S. GDP would contract an average of 30-35 % in 2020 ( Figure 5 ) within a range of 9-50 % .
The correlation shown in Figure 4 suggests it will decrease by about 20-25 % based on estimated decrease in U.S. oil consumption .
Any value within this spectrum is catastrophic .
Figure 5 .
U.S. GDP to contract 30-35 % in 2020 based on estimates by seventeen investment analysts Source : Charles Schwab and Labyrinth Consulting Services , Inc .
Economist Lawrence Summers has warned that the @ @ @ @ @ @ @ cascading defaults .
Approximately 25 % of U.S. renters did not pay their landlords and 23 % of Americans did not make their mortgage payment in April .
When people don ’ t pay their creditors , creditors in turn can not pay their creditors .
For comparison , a 28 % mortgage default rate contributed to the 2008 financial collapse .
Joseph Stiglitz recently explained that the current pandemic will affect the developing world more severely than it has developed countries .
It might lead to mass migration problems that could dwarf @ @ @ @ @ @ @ out of Africa and the Middle East .
Many will probably find my analysis overly pessimistic .
Crude oil markets do not .
Negative WTI futures prices last week could not have sent a stronger signal for producers to cease and desist .
Large segments of the U.S. oil industry will have to be nationalized before the year is over .
The price of oil is too low to justify the cost of extraction even if storage were available .
The value of a barrel of oil , however , is 4.5 man-years @ @ @ @ @ @ @ be essential if the U.S. economy is to avoid collapse or for it to recover if collapse is unavoidable .
The United States has engaged in the foolish practice of draining America first since the beginning of tight oil production a decade ago .
There was value up to the point that domestic oil substituted for imported light oil but exporting more was dumb .
That is true especially now that someone else ’ s oil will be cheap to buy for years .
There are few moments when we may truly say @ @ @ @ @ @ @ is one of those moments .
We do not know what awful form the future may take , what rough beast slouches toward Bethlehem to be born .
The game is over for oil .
We should place all of our attention on saving the economy .
I hope that we learn to view what is happening as a chance to simplify and to learn to be satisfied with no more than what we need .
It is unlikely that we will have much choice .

Authored by Art Berman,
It’s game-over for most of the U.S. oil industry.
Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That means no income. Most have considerable debt so bankruptcy is next.
Peggy Noonan wrote in her column recently that “this is a never-before-seen level of national economic calamity; history doesn’t get bigger than this.” That is the superficial view.
Coronavirus has changed everything. The longer it lasts, the less the future will look anything like the past.
Most people, policy makers and economists are energy blind and cannot, therefore, fully grasp the gravity or the consequences of what is happening.
Energy is the economy and oil is the most important and productive portion of energy. U.S. oil consumption is at its lowest level since 1971 when production was only about 78% of what it was in 2019. As goes oil, so goes the economy…down.
The old oil industry and the old economy are gone. The energy mix that underlies the economy will be different now. Oil production and price are unlikely to regain late 2018 levels. Renewable sources will fall behind along with efforts to mitigate climate change.
It’s Really Bad
2020 global liquids demand may average 20 mmb/d less than in 2019 (Figure 1). This estimate is really a thought experiment because it is impossible to know what supply and demand are in the present much less in the next quarter or beyond. This is a time of unimaginable flux and uncertainty because no one knows how long economic activity will be depressed, how long it will take to recover or if it will recover.
The estimate in Figure 1 differs from most forecasts in two important ways. First, I believe that supply will fall much faster than most other sources. That is because storage will soon be full and shutting in production will be the only option for many producers.
Figure 1. 2020 global oil demand may average 20 million barrels per day lower than in 2019.
Source: OPEC, IEA, Vitol, Trafigura, Goldman Sachs and Labyrinth Consulting Services, Inc.
Second, I doubt that there will be a demand recovery in the third quarter despite the re-opening of businesses in the second. That is because we are in a global depression. Unemployment will remain high and consumers will be damaged from lack of income over the months of quarantine. The truth is that I doubt that demand will ever recover.
Economies will re-start slowly. A useful analogy is being at a traffic light behind 25 stopped cars. The light will change from green to red before your car begins to move. It may take several light changes before you get to the other side of the intersection.
U.S. consumption has fallen about 30% from 20 mmb/d in January to 14 mmb/d in April. Refinery intakes are already 25% lower than in the first quarter of the year and will fall further as consumption decreases. Refineries will close.
Most U.S. refineries require intermediate and heavy crude oil that must be imported. Few U.S. grades of oil can be used to produce diesel without blending them with imported oil. That is because they are too light to contain the organic compounds need to make diesel. Redesigning refineries will not change this.
The world’s natural resource extraction, shipping and distribution system relies on diesel. As refineries close and less diesel is produced, there will be lower levels of natural resource extraction, less manufacturing and less buying of goods.
Diesel cannot be produced without first producing gasoline. The U.S. has had a gasoline surplus since late 2014 and the current surplus is the highest in 5 years (Figure 2).
Figure 2. U.S. gasoline comparative inventory has increased 30 million barrels since March 20 to a record level of 28.4 million barrels more than the five-year average. Source: EIA and Labyrinth Consulting Services, Inc.
We are primarily funded by readers. Please subscribe and donate to support us!
Diesel demand is less elastic than gasoline demand because of its critical role in heavy transport. What will happen to the excess produced gasoline if storage is full? Will it be burned?
Those who see an opportunity for renewable energy in the demise of oil need to think again. The manufacture of solar panels, wind turbines and electric cars depend on diesel all along the supply chain from extraction to distribution of finished products. A world in economic depression will default to the cheapest and most productive fuels. Oil will be cheap and abundant for a long time. There will be little money or appetite for the massive equipment changes that renewable sources require. Climate change will not be high in the consciousness of people struggling to survive.
Figure 3 is another thought experiment in which I use tight oil rig count and output to estimate forward levels of U.S. production. The normal trajectory is an estimate of how production might decline as rigs are idled from lack of capital investment. It suggests that tight oil production might decrease by about 50% from 7 to 3.5 mmb/d by July 2021.
Figure 3. Thought experiment based on rig count through April 2020 and 12-month lagged production.
Source: Baker Hughes, EIA DPR, Drilling Info and Labyrinth Consulting Services, Inc.
The shut-in trajectory suggests that tight oil production may fall below 3 mmb/d by June of this year. Since tight oil accounts for about 55% of U.S. output, total crude oil and condensate production could decline from 12 mmb/d to 5.5 mmb/d by the end of the first half of 2020. This estimate is much more aggressive than EIA forecasts because EIA hasn’t adequately modeled the speed of shut in production with full storage levels.
Energy is the Economy
Gross domestic product (GDP) is proportional to oil consumption (Figure 4). That’s because oil is the economy. Every aspect of production and use of goods and services requires burning fossil energy. There are approximately 4.5 years of human labor in a barrel of oil (N. J. Hagens, personal communication and The Oil Drum). No other energy source comes close to that level of energy density.
Figure 4. Gross domestic product (GDP) is proportional to oil consumption
Source: EIA, World Bank and Labyrinth Consulting Services, Inc.
Those who believe that the world will function the same on lower energy density sources like wind and solar should review their old physics text books. You cannot fit 4.5 years of work from sunlight or wind into the 5.6 cubic feet space of a barrel of oil.
Seventeen investment analysts recently estimated that U.S. GDP would contract an average of 30-35% in 2020 (Figure 5) within a range of 9-50%. The correlation shown in Figure 4 suggests it will decrease by about 20-25% based on estimated decrease in U.S. oil consumption. Any value within this spectrum is catastrophic.
Figure 5. U.S. GDP to contract 30-35% in 2020 based on estimates by seventeen investment analysts
Source: Charles Schwab and Labyrinth Consulting Services, Inc.
Economist Lawrence Summers has warned that the U.S. financial system may collapse because of cascading defaults. Approximately 25% of U.S. renters did not pay their landlords and 23% of Americans did not make their mortgage payment in April. When people don’t pay their creditors, creditors in turn cannot pay their creditors. For comparison, a 28% mortgage default rate contributed to the 2008 financial collapse.
Joseph Stiglitz recently explained that the current pandemic will affect the developing world more severely than it has developed countries. It might lead to mass migration problems that could dwarf the dislocations of the last six years out of Africa and the Middle East.
Slouching Toward Bethlehem
Many will probably find my analysis overly pessimistic. Crude oil markets do not. Negative WTI futures prices last week could not have sent a stronger signal for producers to cease and desist.
Large segments of the U.S. oil industry will have to be nationalized before the year is over. The price of oil is too low to justify the cost of extraction even if storage were available. The value of a barrel of oil, however, is 4.5 man-years of work and that productivity multiplier will be essential if the U.S. economy is to avoid collapse or for it to recover if collapse is unavoidable.
The United States has engaged in the foolish practice of draining America first since the beginning of tight oil production a decade ago. There was value up to the point that domestic oil substituted for imported light oil but exporting more was dumb. That is true especially now that someone else’s oil will be cheap to buy for years.
There are few moments when we may truly say that things are different now. This is one of those moments. We do not know what awful form the future may take, what rough beast slouches toward Bethlehem to be born.
The game is over for oil. We should place all of our attention on saving the economy.
I hope that we learn to view what is happening as a chance to simplify and to learn to be satisfied with no more than what we need. It is unlikely that we will have much choice.


investmentwatchblog--2020-05-02--Tech Dot.com Part II Could Start Here

Tech Dot.com Part II Could Start Here

When fewer and fewer stocks are holding up a market , could that end up sending a bearish message to stock market bulls ?
Yes .
This ratio looks at the NDX 100 index compared to the Nasdaq Composite Index .
The ratio compares the strength of the 100 largest tech stocks ( NDX ) to the strength of 3,300 tech stocks ( Nasdaq composite Index ) .
When the ratio is rising it is reflecting the largest tech stocks are doing much better than the majority of tech stocks .
When the ratio peaked in 2000 and rolled over @ @ @ @ @ @ @ 1 ) .
The ratio has been moving higher since the lows back in 2002 .
The ratio remains in a bullish trend as it has created a series of higher lows and higher highs inside of this rising channel since the 2007 lows .
The long-term rally has the ratio currently testing the 2000 highs and the top of this rising channel at ( 2 ) , as momentum is currently the highest in the past 20-years .
No doubt the trend in the ratio is higher , which continues to reflect @ @ @ @ @ @ @ stocks are providing the majority of the gains in the tech sector .
While testing the 2000 highs and the top of the channel , the ratio over the past two months could be creating back to back bearish reversal patterns , as it kisses the underside of dual resistance at ( 2 ) .
Joe Friday Just The Facts Ma ’ am ; If the ratio starts turning weaker at dual resistance , it would reflect that the largest tech stocks ( FAANG stocks ) are struggling , which would send a @ @ @ @ @ @ @ the broad market as well !
What happens at ( 2 ) , a breakout or breakdown , will send a very important message to the broad markets for months to come !

by Kimble Charting
When fewer and fewer stocks are holding up a market, could that end up sending a bearish message to stock market bulls? Yes.
This ratio looks at the NDX 100 index compared to the Nasdaq Composite Index. The ratio compares the strength of the 100 largest tech stocks (NDX) to the strength of 3,300 tech stocks (Nasdaq composite Index).
When the ratio is rising it is reflecting the largest tech stocks are doing much better than the majority of tech stocks. When the ratio peaked in 2000 and rolled over, the Dot.com boom ended at (1). The ratio has been moving higher since the lows back in 2002.
The ratio remains in a bullish trend as it has created a series of higher lows and higher highs inside of this rising channel since the 2007 lows. The long-term rally has the ratio currently testing the 2000 highs and the top of this rising channel at (2), as momentum is currently the highest in the past 20-years.
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No doubt the trend in the ratio is higher, which continues to reflect that the largest of the large tech stocks are providing the majority of the gains in the tech sector.
While testing the 2000 highs and the top of the channel, the ratio over the past two months could be creating back to back bearish reversal patterns, as it kisses the underside of dual resistance at (2).
Joe Friday Just The Facts Ma’am; If the ratio starts turning weaker at dual resistance, it would reflect that the largest tech stocks (FAANG stocks) are struggling, which would send a concerning message to all tech stocks and the broad market as well!
What happens at (2), a breakout or breakdown, will send a very important message to the broad markets for months to come!


investmentwatchblog--2020-05-02--Bank Stocks About To Send Monumental Message To The Broad Market!

A healthy banking system is the hallmark of a growing economy .
So when back stocks turn “ south ” @ @ @ @ @ .
Like the broader stock market indices , the Bank Index ( BKX ) crashed @ @ @ @ @ into April .
That bounce has the Bank Index testing triple resistance at ( 1 @ @ @ @ @ market several trends and channel lines , all meeting up here !
Bullish message to @ @ @ @ @ = Breakout above triple resistance at ( 1 ) Bearish message to Banks and the @ @ @ @ @ lower just below triple resistance at ( 1 ) .
This article was first written @ @ @ @ @ To see the original post CLICK HERE

by Kimble Charting
A healthy banking system is the hallmark of a growing economy. So when back stocks turn “south”, investors should tune in.
Like the broader stock market indices, the Bank Index (BKX) crashed in March before bouncing back into April.
That bounce has the Bank Index testing triple resistance at (1).
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This area is market several trends and channel lines, all meeting up here!
Bullish message to Banks and the broad market = Breakout above triple resistance at (1)
Bearish message to Banks and the broad market = Banks turn lower just below triple resistance at (1).
This article was first written for See It Markets.com. To see the original post CLICK HERE


investmentwatchblog--2020-05-02--We are in systemic collapse. This is the systemic moment…. “In a solvency crisis, companies can’t su

We are in systemic collapse. This is the systemic moment…. “In a solvency crisis, companies can’t survive no matter how much they can borrow: they need more revenue. The Fed can’t solve that.”

We are in Systemic Collapse. This is the Systemic Moment. — Paranoid Bull (@paranoidbull) May 2, 2020
BULLARD: EXTENDED PAUSE WILL START BREAKING PARTS OF ECONOMY — *Walter Bloomberg (@DeItaOne) May 1, 2020
“In a liquidity crisis, otherwise healthy firms collapse because they can’t access credit. The Fed can resolve such a crisis…In a solvency crisis, companies can’t survive no matter how much they can borrow: they need more revenue. The Fed can’t solve that.”
—Greg Ip, @WSJ — Dave Collum (@DavidBCollum) May 1, 2020
Regional bank loss provisions pic.twitter.com/KXWF8W1FQJ — Win Smart, CFA (@WinfieldSmart) May 1, 2020
US NY Fed GDP Nowcast Q2: -9.33% (prev -7.79%) t.co/RR47iYmtST — LiveSquawk (@LiveSquawk) May 1, 2020
This is a great chart I borrowed from @SchiffSpencer. Clearly a bright young man.
I repost because I like it in RED. pic.twitter.com/G9JVQ6neik — Jack Scott (@JackPScott) May 1, 2020
Storage lots — and even cargo ships — are stacked with vehicles that Americans suddenly have little desire to purchase. t.co/m0YN0CIQxF — Bloomberg Markets (@markets) May 1, 2020
The drop in US beef production is even worse than the plant closures would suggest t.co/vHHkrK8hTQ pic.twitter.com/3YnQFrmuDt — Joe Weisenthal (@TheStalwart) May 2, 2020
“We’re about to have deflation and the market hasn’t figure it out yet… when it does, the Fed is going to shit itself.” @hendry_hugh @raoulGMI
t.co/aa7m6eTwgC pic.twitter.com/sqGMdUvTDZ — Real Vision (@RealVision) May 1, 2020
The coronavirus pandemic is likely to last two years and won’t be controlled until two-thirds of the world’s population is immune, experts warn t.co/w3NsmKcE7D — Win Smart, CFA (@WinfieldSmart) May 1, 2020


investmentwatchblog--2020-05-02--Will Dollar Swap Lines Stop An Economic ARMAGEDDON? (Explained & Answered)

Discover dollar swap line 👉 INTEL YOU NEED !
👈 Dollar swap lines seem intimidating but there very simple to understand , assuming you ’ ve got an amazing video like this do explain them to YOU !
Jokes aside it ’ s crucial you do understand them to navigate the current economic environment .
Dollar swap lines have been set up for a variety of reasons .
If you believe the Federal Reserve , it ’ s to provide US dollars to foreign central banks .
But this could be just a smoke screen to keep YOU FROM KNOWING @ @ @ @ @ @ @ s to prop up the US economy and prevent it from crashing .
The dirty little secret the Fed doesn ’ t want you to know is the dollar swap lines also prevent foreign entities from selling their treasuries , which keeps interest rates down .
And this is only the tip of the ice berg , the main reason it ’ s crucial you understand dollar swap lines is because IF you own stock of a company who has assets in a country that didn ’ t get a dollar swap life @ @ @ @ @ @ @ taking far more risk than you realize !
!

Discover dollar swap line 👉 INTEL YOU NEED! 👈 Dollar swap lines seem intimidating but there very simple to understand, assuming you’ve got an amazing video like this do explain them to YOU! Jokes aside it’s crucial you do understand them to navigate the current economic environment. Dollar swap lines have been set up for a variety of reasons. If you believe the Federal Reserve, it’s to provide US dollars to foreign central banks. But this could be just a smoke screen to keep YOU FROM KNOWING the real reason, and that’s to prop up the US economy and prevent it from crashing. The dirty little secret the Fed doesn’t want you to know is the dollar swap lines also prevent foreign entities from selling their treasuries, which keeps interest rates down. And this is only the tip of the ice berg, the main reason it’s crucial you understand dollar swap lines is because IF you own stock of a company who has assets in a country that didn’t get a dollar swap life line from the Fed YOU could be taking far more risk than you realize!!
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investmentwatchblog--2020-05-02--Canadian Prime Minister Bans All AR-15 Rifles-Immediately

In the latest “ NEVER LET A CRISIS GO TO WASTE ” denial of civil rights , Canada ’ s prime minister Justin Trudeau yesterday ( April 30 ) banned virtually ALL AR-15 rifles the country .
Trudeau opted to immediately ban the firearms outright himself , which Canada ’ s current draconian gun laws allow , rather ordering a “ gun buyback , ” which would have to first be approved by Canada ’ s parliament .
He did say that he would allow AR-15 owners to have two years to comply with orders to turn in their property @ @ @ @ @ @ @ seek legislation at some later date on providing owners with some payment for their guns .
There is no grandfather provision in the new law .
The ban is total .
It prohibits buying , selling , trading , importing , exporting , exporting , OR USING , any military-grade assault weapons , anywhere in Canada .
Trudeau ’ s full announcement can be viewed at the following URL : Trudeau has made no secret of his antipathy toward firearms .
He announced his intention to ban AR-15 firearms in March , but @ @ @ @ @ @ @ .
In yesterday ’ s announcement , he indicated that banning AR-15s was just one more step toward even tighter restrictions on firearm ownership .
I would not doubt but that his final goal is total disarmament of Canada ’ s civilian population .
Such an event would leave Canada a socialist police state with no unalienable civil rights .
Already Canada has imposed fines and prison sentences for Christian preachers who teach from the pulpit that homosexuality is a sin , or that marriage is only a union between a man and @ @ @ @ @ @ @ “ hate speech ” laws .
Unlike the United States Bill of Rights , which was part of our Constitution from the beginning , the Canadian Charter of Rights and Freedoms did not become part of Canada ’ s constitution until 1982 .
According to a Canadian governmental fact sheet , “ The Constitution is the supreme law of Canada ; all other laws must be consistent with the rules set out in it .
If they are not , they may not be valid .
Since the Charter is part of the @ @ @ @ @ @ @ law we have in Canada .
However , the rights and freedoms in the Charter are not absolute .
They can be limited to protect other rights or important national values .
For example , freedom of expression may be limited by laws against hate propaganda or child pornography .
Section 1 of the Charter says that Charter rights can be limited by law so long as those limits can be shown to be reasonable in a free and democratic society.
” Canada is fast becoming a democracy in name only .

by DCG
In the latest “NEVER LET A CRISIS GO TO WASTE” denial of civil rights, Canada’s prime minister Justin Trudeau yesterday (April 30) banned virtually ALL AR-15 rifles the country. Trudeau opted to immediately ban the firearms outright himself, which Canada’s current draconian gun laws allow, rather ordering a “gun buyback,” which would have to first be approved by Canada’s parliament. He did say that he would allow AR-15 owners to have two years to comply with orders to turn in their property. He also said that he would seek legislation at some later date on providing owners with some payment for their guns.
There is no grandfather provision in the new law. The ban is total. It prohibits buying, selling,trading, importing, exporting, exporting, OR USING, any military-grade assault weapons, anywhere in Canada.
Trudeau’s full announcement can be viewed at the following URL:
The announcement begins at 1:48
We are primarily funded by readers. Please subscribe and donate to support us!
Trudeau has made no secret of his antipathy toward firearms. He announced his intention to ban AR-15 firearms in March, but delayed because of the Wuhan virus pandemic. In yesterday’s announcement, he indicated that banning AR-15s was just one more step toward even tighter restrictions on firearm ownership. I would not doubt but that his final goal is total disarmament of Canada’s civilian population. Such an event would leave Canada a socialist police state with no unalienable civil rights.
Already Canada has imposed fines and prison sentences for Christian preachers who teach from the pulpit that homosexuality is a sin, or that marriage is only a union between a man and a woman. Canada has strict anti “hate speech” laws.
Unlike the United States Bill of Rights, which was part of our Constitution from the beginning, the Canadian Charter of Rights and Freedoms did not become part of Canada’s constitution until 1982. According to a Canadian governmental fact sheet, “The Constitution is the supreme law of Canada; all other laws must be consistent with the rules set out in it. If they are not, they may not be valid. Since the Charter is part of the Constitution, it is the most important law we have in Canada.
However, the rights and freedoms in the Charter are not absolute. They can be limited to protect other rights or important national values. For example, freedom of expression may be limited by laws against hate propaganda or child pornography. Section 1 of the Charter says that Charter rights can be limited by law so long as those limits can be shown to be reasonable in a free and democratic society.”
Canada is fast becoming a democracy in name only.


investmentwatchblog--2020-05-02--CME Group Needs Up To $10 Billion In Credit For A “Default, A Liquidity Constraint, Or Depository De

CME Group Needs Up To $10 Billion In Credit For A “Default, A Liquidity Constraint, Or Depository Default” And More (Or, Is The Paper Gold & Silver “Market” Blowing-Up…?!?)

( by Half Dollar ) Yes , it ’ s too early to say whether the corrupt , fraudulent US paper gold & silver “ market ” is going the way of the Dodo bird right now .
And no matter what you hear , read , or see , only a very small number of people actually know what is actually going on , and that ’ s not information that ’ s given up .
Nonetheless , from the SEC ( bold added for emphasis ) On April 29 , 2020 , Chicago Mercantile Exchange Inc. ( “ @ @ @ @ @ @ @ subsidiary of CME Group Inc. , entered into an amendment ( the “ Amendment ” ) to its 364-day multi-currency credit facility ( the “ Existing Credit Facility ” ) with Bank of America , N.A.
, as Administrative Agent , Citibank , N.A.
, as Collateral Agent and Collateral Monitoring Agent and certain of the existing banks under the Existing Credit Facility .
The Existing Credit Facility as amended by the Amendment is referred to as the “ Amended Credit Facility.
” The Amended Credit Facility is for a multi-currency revolving secured @ @ @ @ @ @ @ which is eligible to be increased to $ 10 billion ) and is intended to provide temporary liquidity to CME in the event of a clearing member default , a liquidity constraint or depositary default , or in the event of a delay in the payment systems utilized by CME .
Clearing member guaranty fund contributions and performance bond assets deposited by clearing members can be used as collateral under the Facility .
The foregoing description of the Amended Credit Facility is only a summary , does not purport to be complete and @ @ @ @ @ @ @ to , and should be read in conjunction with , the complete text of the Amended Credit Facility , which is filed as Exhibit 10.1 hereto and is incorporated herein by reference .

(by Half Dollar) Yes, it’s too early to say whether the corrupt, fraudulent US paper gold & silver “market” is going the way of the Dodo bird right now.
And no matter what you hear, read, or see, only a very small number of people actually know what is actually going on, and that’s not information that’s given up.
Period.
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Nonetheless, from the SEC (bold added for emphasis)
On April 29, 2020, Chicago Mercantile Exchange Inc. (“CME”), a wholly owned subsidiary of CME Group Inc., entered into an amendment (the “Amendment”) to its 364-day multi-currency credit facility (the “Existing Credit Facility”) with Bank of America, N.A., as Administrative Agent, Citibank, N.A., as Collateral Agent and Collateral Monitoring Agent and certain of the existing banks under the Existing Credit Facility. The Existing Credit Facility as amended by the Amendment is referred to as the “Amended Credit Facility.”
The Amended Credit Facility is for a multi-currency revolving secured credit facility of $7 billion (which is eligible to be increased to $10 billion) and is intended to provide temporary liquidity to CME in the event of a clearing member default, a liquidity constraint or depositary default, or in the event of a delay in the payment systems utilized by CME. Clearing member guaranty fund contributions and performance bond assets deposited by clearing members can be used as collateral under the Facility.
The foregoing description of the Amended Credit Facility is only a summary, does not purport to be complete and is qualified in its entirety by reference to, and should be read in conjunction with, the complete text of the Amended Credit Facility, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Developing…


investmentwatchblog--2020-05-02--Unemployment Kills: The Longer Lockdowns Last, the Worse It Will Get

Fed chairman Jerome Powell on Wednesday announced the economic data now coming out “ is worse than any data we have seen for the economy.
” This is due in part to to twenty years of stimulus-driven economic growth based on blowing up and sustaining bubbles through easy money .
But it is now made much worse by the fact that many governments have frozen their states ’ and nations ’ economies , shut down businesses , and prevented markets from adapting to the new realities of consumers and workers in a world with a heightened risk of disease .
@ @ @ @ @ @ @ with 30 million Americans filing for unemployment over the past six weeks ( one survey puts it at 50 million ) .
In states that insist on continuing with widespread coercive economic shutdowns , the numbers will only keep getting worse .
Many policymakers , unfortunately , continue to pretend that the costs associated with these shutdowns are minimal or insignificant .
Those who speak up against the shutdowns—whether from the perspective of protecting human rights , or simply on pragmatic grounds—are often shouted down as choosing filthy lucre over public health .
@ @ @ @ @ @ @ when unemployment leads to impoverishment or loss of social status , it is itself a major health problem .
This has been evident in research for many years , but since this narrative does not support the myopic and single-minded drive toward “ fighting COVID-19 ” at all costs , many politicians and “ experts ” simply wave these facts aside .
The policymakers continue to pretend that everything will be fine once the politicians unilaterally decide that there has been “ enough testing ” or that things are “ under control , @ @ @ @ @ @ @ set to justify recognizing people ’ s basic human rights to seek employment and run their own businesses .
The Cost of Unemployment : A Survey of the Research According to a 2014 piece in Harvard Public Health magazine , unemployment due to business closures And for men the impacts are often worse : In a study of the effect of economic growth in morbidity in the twentieth century , M. Harvey Brenner writes in the International Journal of Epidemiology that In this 2003 study on unemployment in the Journal of Health Economics @ @ @ @ @ @ @ effects of unemployment also become worse the earlier in the cycle one becomes unemployed .
In a Finnish study on unemployment , Pekka Martikainen found that In other words , those who became unemployed first—i.e.
, in 1990—had higher mortality than those who became jobless in later years .
But the general conclusion was familiar .
Mortality increased sizeably for those who became unemployed : Moreover the long-term effects can be significant .
In a Swedish study on the long term effect of unemployment , the researchers found that For men , the @ @ @ @ @ @ @ double what it was for the employed .
The risk was nearly double for women .
The same study also showed that for men who had suffered unemployment , long-term risk of death from suicide was more than 40 percent higher than the employed .
Even the risk of death from “ transport accidents ” became higher following bouts of unemployment .
Even worse , the effects of unemployment tend to be magnified by previous periods of unemployment , since “ The risk of becoming unemployed is higher among people who have previous @ @ @ @ @ @ @ referred to as ‘ scarring ’ , ‘ path dependency ’ or ‘ state dependency.
’ ” This increases the health effects of unemployment among the most economically disadvantaged groups .
Not surprisingly , increased unemployment also increases the risk of death from drug-related causes as well .
In this 2017 study , Studies have now started to be published on our current recession .
Although not directly studying unemployment , a new study of Swiss data on the mental health–related “ consequences of COVID-19 mitigation ” ( i.e.
, economic lockdowns ) @ @ @ @ @ @ @ , the “ mitigation ” strategies that allegedly save lives are really just shifting the burden from some people onto to others .
In some cases , the lockdowns amount to nearly a decade of lost years thanks to the toll on mental health .
Confronted with the likely costs of their lockdown policies , many will fall back on claiming basic arithmetic can give us the answer .
“ How many deaths are caused by unemployment versus by COVID-19 ?
” This claim is premised on the idea that it ’ s @ @ @ @ @ @ @ prove that the number of deaths caused by economic destruction will outnumber the total COVID-19 deaths .
In the minds of the lockdown advocates , if the net number of lives saved by continued lockdown is even a single person , then their policies throwing freedom and the rule of law under the bus are totally justified .
They get it wrong , of course .
The burden of proof is on them .
After all , they are the ones advocating for violence .
That is , they are the ones who @ @ @ @ @ @ @ who just want to open their shops , or go to work , or sell their labor for wages .
If those people don ’ t comply , the prolockdown position is that these “ disobedient ” people must then be locked in cages or ruined financially through fines , lawsuits , and criminal charges .
The opponents of the lockdowns , on the other hand , only wish to allow people to exercise their freedom .
The burden of proof lies on those who wish to use police powers to coerce others @ @ @ @ @ @ @ the “ experts ” have no idea how much the lockdowns are even preventing the spread of disease or how employment and economic growth would be affected in the absence of coerced lockdowns .
The lockdown proponents simply don ’ t have enough data to make the case for their position .
They only know they desire to force people to abandon their jobs , abandon their shops , and indefinitely embrace a life on the dole .
As a result , many will kill themselves .
Many will overdose on drugs .

by Ryan McMaken of Mises Institute
Fed chairman Jerome Powell on Wednesday announced the economic data now coming out “is worse than any data we have seen for the economy.”
This is due in part to to twenty years of stimulus-driven economic growth based on blowing up and sustaining bubbles through easy money. But it is now made much worse by the fact that many governments have frozen their states’ and nations’ economies, shut down businesses, and prevented markets from adapting to the new realities of consumers and workers in a world with a heightened risk of disease.
The result has been catastrophic unemployment, with 30 million Americans filing for unemployment over the past six weeks (one survey puts it at 50 million). In states that insist on continuing with widespread coercive economic shutdowns, the numbers will only keep getting worse.
Many policymakers, unfortunately, continue to pretend that the costs associated with these shutdowns are minimal or insignificant. Those who speak up against the shutdowns—whether from the perspective of protecting human rights, or simply on pragmatic grounds—are often shouted down as choosing filthy lucre over public health.
The reality, however, is that when unemployment leads to impoverishment or loss of social status, it is itself a major health problem.
This has been evident in research for many years, but since this narrative does not support the myopic and single-minded drive toward “fighting COVID-19” at all costs, many politicians and “experts” simply wave these facts aside. The policymakers continue to pretend that everything will be fine once the politicians unilaterally decide that there has been “enough testing” or that things are “under control,” or whatever arbitrary goal has been set to justify recognizing people’s basic human rights to seek employment and run their own businesses.
The Cost of Unemployment: A Survey of the Research
According to a 2014 piece in Harvard Public Health magazine, unemployment due to business closures
increased by 83 percent the odds of new health conditions likely triggered by job loss—stress-related conditions such as stroke, hypertension, heart disease, arthritis, diabetes, and emotional and psychiatric problems.
The risk of death increased:
A 2011 meta-analysis of international research—published in Social Science & Medicine by David Roelfs, Eran Shor, Karina Davidson, and Joseph Schwartz—found that the risk of death was 63 percent higher during the study periods among those who experienced unemployment than among those who did not, after adjusting for age and other variables.
And for men the impacts are often worse:
A 2009 study on the impact of the 1980s oil crisis and subsequent recession in Pennsylvania, published by economists Daniel Sullivan and Till von Wachter in the Quarterly Journal of Economics, found that in the year after men lost their jobs in mass layoffs, their chances of dying doubled.
In a study of the effect of economic growth in morbidity in the twentieth century, M. Harvey Brenner writes in the International Journal of Epidemiology that
the large and growing literature on unemployment and health is highly consistent in demonstrating elevated morbidity and mortality associated with unemployment and withdrawal from the labour force…. The literature on the long-term unemployed also shows increased exposure to alcoholism and use of other psychotropic substances such as tobacco and less expensive/nutritious foods. Equally important, the long-term unemployed are especially at risk for damaged family and friendship relations, quite apart from the social isolation induced by the loss of employment itself.
In this 2003 study on unemployment in the Journal of Health Economics, the authors concluded:
Unemployment increases the risk of being dead from 5.36 to 7.83%, i.e. an increased risk of 46%. For mortality from [noncancer and cardiovascular causes] unemployment leads to more than a doubling of the risk, and this effect is significant. Also for suicides the estimated effect of unemployment is significant, and the point estimate implies that unemployment increases the risk of suicides by 145%.
The health effects of unemployment also become worse the earlier in the cycle one becomes unemployed. In a Finnish study on unemployment, Pekka Martikainen found that
Men unemployed for the first time in 1990, 1991 or 1992 had, respectively, 111,72 and 35 per cent higher standardized mortality than did men who remained employed
In other words, those who became unemployed first—i.e., in 1990—had higher mortality than those who became jobless in later years. But the general conclusion was familiar. Mortality increased sizeably for those who became unemployed:
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excess mortality of 47 per cent was observed among men unemployed or working part-time for reasons other than illness after adjustment for age, geographic region, social class, cigarette smoking, alcohol consumption, weight and known pre-existing disease.
Moreover the long-term effects can be significant. In a Swedish study on the long term effect of unemployment, the researchers found that
Alcohol-related mortality was significantly raised among both men and women who had experienced unemployment.
For men, the risk of alcohol-related death was more than double what it was for the employed. The risk was nearly double for women. The same study also showed that for men who had suffered unemployment, long-term risk of death from suicide was more than 40 percent higher than the employed. Even the risk of death from “transport accidents” became higher following bouts of unemployment.
The authors conclude:
At the very least, unemployment has taken its mortality toll among a vulnerable segment of the population, particularly among young men, unmarried men and men of low education or income.
Even worse, the effects of unemployment tend to be magnified by previous periods of unemployment, since “The risk of becoming unemployed is higher among people who have previous experience of unemployment. This has been referred to as ‘scarring’, ‘path dependency’ or ‘state dependency.’”
This increases the health effects of unemployment among the most economically disadvantaged groups.
Not surprisingly, increased unemployment also increases the risk of death from drug-related causes as well. In this 2017 study,
the researchers find that a one percentage point increase in the county unemployment rate is associated with an additional 0.2 opioid-involved drug-related deaths per 100,000 county residents, a 3.6 percent increase relative to the average rate of 5.4 deaths per 100,000. Similarly, there is a 3.3 percent increase in the rate of all drug-related deaths. For ED [emergency department] visits, a one percentage point rise in the county unemployment rate is linked to an additional 0.95 opioid overdose ED visits per 100,000 residents, a 7.0 percent increase.
Studies have now started to be published on our current recession. Although not directly studying unemployment, a new study of Swiss data on the mental health–related “consequences of COVID-19 mitigation” (i.e., economic lockdowns) the authors concluded:
The study projects that the average person would suffer 0.205 YLL [years of life lost] due to psychosocial consequence of COVID-19 mitigation measures. However, this loss would be entirely borne by 2.1% of the population, who will suffer an average 9.79 YLL….The results presented here are likely to underestimate the true impact of the mitigation strategies on YLL.
In other words, the “mitigation” strategies that allegedly save lives are really just shifting the burden from some people onto to others. In some cases, the lockdowns amount to nearly a decade of lost years thanks to the toll on mental health.
Confronted with the likely costs of their lockdown policies, many will fall back on claiming basic arithmetic can give us the answer. “How many deaths are caused by unemployment versus by COVID-19?” This claim is premised on the idea that it’s up to the defenders of freedom to prove that the number of deaths caused by economic destruction will outnumber the total COVID-19 deaths. In the minds of the lockdown advocates, if the net number of lives saved by continued lockdown is even a single person, then their policies throwing freedom and the rule of law under the bus are totally justified.
They get it wrong, of course. The burden of proof is on them. After all, they are the ones advocating for violence. That is, they are the ones who want to impose fines on nonviolent people who just want to open their shops, or go to work, or sell their labor for wages. If those people don’t comply, the prolockdown position is that these “disobedient” people must then be locked in cages or ruined financially through fines, lawsuits, and criminal charges.
The opponents of the lockdowns, on the other hand, only wish to allow people to exercise their freedom.
The burden of proof lies on those who wish to use police powers to coerce others.
Moreover, the truth is that the “experts” have no idea how much the lockdowns are even preventing the spread of disease or how employment and economic growth would be affected in the absence of coerced lockdowns. The lockdown proponents simply don’t have enough data to make the case for their position. They only know they desire to force people to abandon their jobs, abandon their shops, and indefinitely embrace a life on the dole. As a result, many will kill themselves. Many will overdose on drugs.


investmentwatchblog--2020-05-02--3M applied for patent to manufacture adrenochrome

3M ( Minnesota Mining and Manufacturing Company ) is an American multinational conglomerate corporation operating in the fields of industry , worker safety , US health care , and consumer goods .
3M made $ 32.8 billion in total sales in 2018 , and ranked number 95 in the Fortune 500 list of the largest U.S. corporations by total revenue .
Based in Maplewood , a suburb of Saint Paul , Minnesota , 3M produces over 60,000 products under several brands , including abrasives , adhesives , car-care products , dental and orthodontic products , electrical and electronic connecting and @ @ @ @ @ @ @ software and optical films , laminates , paint protection films , passive fire protection , medical products , personal protective equipment ( PPE ) , and window films .
The PPE manufactured by 3M includes N95 respirator masks , which are manufactured in 3M plants in China , Europe , Latin America and the United States , according to 3M spokeswoman Jennifer Ehrlich .
Recently , 3M made controversial news in the Wuhan coronavirus pandemic because of the shortage of N95 masks : • On March 5 , 2020 , Vice President Mike @ @ @ @ @ @ @ and was told that 35 million masks were available for U.S. healthcare workers .
• On March 21 , 2020 , however , 3M said most of the masks made at their plant in Shanghai , China , had been sold prior to the virus outbreak , and could not confirm when exports would resume .
But the White House learned that some of those 3M masks had been destined for non-US markets , which 3M refused to confirm or deny , claiming the customer information to be “ confidential information that we @ @ @ @ @ @ @ April 2 , President Trump invoked the Defense Production Act to acquire the masks .
• On April 3 , the Trump Administration asked 3M to stop exporting U.S.-made N95 respirator masks to Canada and to Latin American countries .
• On April 6 , 3M issued a statement saying the company would import into the U.S. 166.5 million N95 masks over the next three months , mostly from its factory in China , which would allow 3M to continue sending the U.S.-made masks to Canada and Latin America .
The company also @ @ @ @ @ @ @ the masks from 22 million to 35 million , and that the additional 13 million masks would be distributed within the U.S. Recall that 3M operates in the fields of industry , worker safety , health care and consumer goods ; and that 3M produces over 60,000 products that include abrasives , car-care products , PPE , etc .
— none of which has to do with adrenochrome , a chemical compound produced by the oxidation of adrenaline — a hormone produced by the adrenal glands and neurons in the the brain stem @ @ @ @ @ @ @ is not mentioned in the U.S .
Controlled Substances Act and is therefore not an illegal substance , adrenochrome has no medical use and is not approved by the FDA as a drug .
In the 1950s and 1960s , several small-scale studies involving 15 or fewer test subjects found that adrenochrome triggered psychotic reactions such as thought disorder , derealization , and euphoria — intense feelings of pleasure , excitement , well being and happiness .
Pop culture lore also maintains adrenochrome has life-extending effect — “ an immortality serum “ .
@ @ @ @ @ @ @ chemical is rumored to be sought after by certain elites .
In 2007 , adrenochrome was featured in an episode of the UK TV series , Lewis .
In the episode “ Whom the Gods Would Destroy , ” Inspector Hathway explains : Needless to say , human ingestion of adrenochrome harvested from other humans is a form of cannibalism .
Adrenochrome can be manufactured , but the process is slow and uneconomical , which is a disincentive for the commercial production of the chemical .
As explained by 3M ’ s Deryck @ @ @ @ @ @ @ 4,501,923 ( bold emphasis supplied ) : Adrenochrome has been commercially prepared by oxidizing adrenaline or its salts with potassium ferricyanide in an aqueous medium .
This process is uneconomical in view of the large quantities of potassium ferricyanide needed and the ensuing effluent disposal problems , together with variability in product quality .
It is reported in the literature that persulfates can be employed as the oxidizing agent .
The use of the persulfates is advantageous since the problems associated with the use of potassium ferricyanide are precluded and they are significantly @ @ @ @ @ @ @ the oxidation process with persulfates is slow so that long reaction periods are required for complete reaction .
This is disadvantageous in operation efficiency of a process .
Also , this results in lowering of yields of adrenochrome since the produced adrenochrome may be further oxidized to decompose to black by-products during the reaction .
Accordingly , oxidation with persulfates is not practical for the commercial manufacture of adrenochrome .
All of which — 3M not being in the business of adrenochrome ; commercial production of adrenochrome is uneconomical — begs the question @ @ @ @ @ @ @ Company , in September 1982 , filed an application with the U.S. Patent and Trademark Office to manufacture ( “ prepare ” ) adrenochrome .
The application was approved in February 1985 , and the manufacturing of adrenochrome was assigned to 3M ’ s subsidiary division , Riker Laboratories , Inc. 3M had acquired Riker Laboratories in the 1960s .
In the mid-1990s , 3M changed Riker Laboratories ’ name to 3M Pharmaceuticals .
In 2002 , 3M ’ s patent to manufacture adrenochrome expired and , to my knowledge , has not @ @ @

by DCG
3M (Minnesota Mining and Manufacturing Company) is an American multinational conglomerate corporation operating in the fields of industry, worker safety, US health care, and consumer goods. 3M made $32.8 billion in total sales in 2018, and ranked number 95 in the Fortune 500 list of the largest U.S. corporations by total revenue.
Based in Maplewood, a suburb of Saint Paul, Minnesota, 3M produces over 60,000 products under several brands, including abrasives, adhesives, car-care products, dental and orthodontic products, electrical and electronic connecting and insulating materials, electronic circuits, healthcare software and optical films, laminates, paint protection films, passive fire protection, medical products, personal protective equipment (PPE), and window films.
The PPE manufactured by 3M includes N95 respirator masks, which are manufactured in 3M plants in China, Europe, Latin America and the United States, according to 3M spokeswoman Jennifer Ehrlich.
Recently, 3M made controversial news in the Wuhan coronavirus pandemic because of the shortage of N95 masks:
On March 5, 2020 , Vice President Mike Pence visited a 3M factory in Minnesota and was told that 35 million masks were available for U.S. healthcare workers.
, Vice President Mike visited a 3M factory in Minnesota and On March 21, 2020 , however, 3M said most of the masks made at their plant in Shanghai, China, had been sold prior to the virus outbreak, and could not confirm when exports would resume. But the White House learned that some of those 3M masks had been destined for non-US markets , which 3M refused to confirm or deny, claiming the customer information to be “confidential information that we do not publicly disclose.”
, however, prior to the virus outbreak, and could not confirm when exports would resume. But , which 3M refused to confirm or deny, claiming the customer information to be “confidential information that we do not publicly disclose.” On April 2, President Trump invoked the Defense Production Act to acquire the masks.
On April 3, the Trump Administration asked 3M to stop exporting U.S.-made N95 respirator masks to Canada and to Latin American countries.
On April 6, 3M issued a statement saying the company would import into the U.S. 166.5 million N95 masks over the next three months, mostly from its factory in China, which would allow 3M to continue sending the U.S.-made masks to Canada and Latin America. The company also said it would increase domestic production of the masks from 22 million to 35 million, and that the additional 13 million masks would be distributed within the U.S.
Recall that 3M operates in the fields of industry, worker safety, health care and consumer goods; and that 3M produces over 60,000 products that include abrasives, car-care products, PPE, etc. — none of which has to do with adrenochrome, a chemical compound produced by the oxidation of adrenaline — a hormone produced by the adrenal glands and neurons in the the brain stem’s medulla oblongata.
While adrenochrome is not mentioned in the U.S. Controlled Substances Act and is therefore not an illegal substance, adrenochrome has no medical use and is not approved by the FDA as a drug.
In the 1950s and 1960s, several small-scale studies involving 15 or fewer test subjects found that adrenochrome triggered psychotic reactions such as thought disorder, derealization, and euphoria — intense feelings of pleasure, excitement, well being and happiness. Pop culture lore also maintains adrenochrome has life-extending effect — “an immortality serum“. All of which may be why the chemical is rumored to be sought after by certain elites.
We are primarily funded by readers. Please subscribe and donate to support us!
In 2007, adrenochrome was featured in an episode of the UK TV series, Lewis. In the episode “Whom the Gods Would Destroy,” Inspector Hathway explains:
“It’s a drug, a very special drug found in a very special place. To harvest adrenochrome, you have to go to Hell itself. You’ve got to murder for it.”
Inspector Lewis further elaborates:
“Adrenochrome…in its purest form which, myth has it, gives the highest of highs. But the thing about it is, in its purest form adrenochrome comes from the human adrenal gland. When you remove that, the donor dies.”
Needless to say, human ingestion of adrenochrome harvested from other humans is a form of cannibalism.
Adrenochrome can be manufactured, but the process is slow and uneconomical, which is a disincentive for the commercial production of the chemical. As explained by 3M’s Deryck F. Boot in U.S. Patent No. 4,501,923 (bold emphasis supplied):
Adrenochrome has been commercially prepared by oxidizing adrenaline or its salts with potassium ferricyanide in an aqueous medium. This process is uneconomical in view of the large quantities of potassium ferricyanide needed and the ensuing effluent disposal problems, together with variability in product quality. It is reported in the literature that persulfates can be employed as the oxidizing agent. The use of the persulfates is advantageous since the problems associated with the use of potassium ferricyanide are precluded and they are significantly cheaper than potassium ferricyanide. However, the oxidation process with persulfates is slow so that long reaction periods are required for complete reaction. This is disadvantageous in operation efficiency of a process. Also, this results in lowering of yields of adrenochrome since the produced adrenochrome may be further oxidized to decompose to black by-products during the reaction. Accordingly, oxidation with persulfates is not practical for the commercial manufacture of adrenochrome.
All of which — 3M not being in the business of adrenochrome; commercial production of adrenochrome is uneconomical — begs the question of why the Minnesota Mining and Manufacturing Company, in September 1982, filed an application with the U.S. Patent and Trademark Office to manufacture (“prepare”) adrenochrome. The application was approved in February 1985, and the manufacturing of adrenochrome was assigned to 3M’s subsidiary division, Riker Laboratories, Inc.
3M had acquired Riker Laboratories in the 1960s. In the mid-1990s, 3M changed Riker Laboratories’ name to 3M Pharmaceuticals.
In 2002, 3M’s patent to manufacture adrenochrome expired and, to my knowledge, has not be renewed.
H/t Tweeter @Inevitable_ET


investmentwatchblog--2020-05-02--Coronavirus, Politicians & The Coming Food Crisis: Where To Place The Blame?

Food industry leaders are warning that a huge food crisis is coming , with slaughterhouses closing across the country and @ @ @ @ @ damaged .
Politicians will blame this coming crisis on the coronavirus , but their unprecedented @ @ @ @ @ disrupted every aspect of the economy .
Plus – now the World Health Organization is @ @ @ @ @ model on how to handle the coronavirus ?
Flip flop ?

by Ron Paul of Ron Paul Liberty Report
Food Crisis Coming – Should We Blame Coronavirus?
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Food industry leaders are warning that a huge food crisis is coming, with slaughterhouses closing across the country and the food supply chain badly damaged. Politicians will blame this coming crisis on the coronavirus, but their unprecedented “lockdown” policies have disrupted every aspect of the economy.
Plus – now the World Health Organization is holding Sweden up as a model on how to handle the coronavirus? Flip flop?


investmentwatchblog--2020-05-02--Committed to public health: Washington State governor extends “stay at home order” while homeless in

Committed to public health: Washington State governor extends “stay at home order” while homeless in Seattle free to set up camps at every street corner

Demorat Governor and failed presidential candidate Jay Inslee issued a “ Stay at Home ” order for Washington on March 23 .
This past Wednesday he confirmed that the order would continue beyond May 4 , He did not indicate when that order would be lifted and is expected to provide more details today .
Guarantee you it will go on and on and on .
He also thanked Washingtonians for their commitment to public health , despite an upheaval to daily life .
Want to know exactly HOW committed the governor is himself to public health ?
Just take @ @ @ @ @ @ @ in Seattle ( specifically , the Ballard area ) : The city has paused the cleanup of homeless encampments sweeps .
Here ’ s a picture of what is going on in downtown Ballard , courtesy of Rob Harwood who shared them with Jason Rantz of MyNorthwest.com .
See all the pictures here .
Due to the Wuhan virus , the city is not making homeless encampments disappear .
The homeless are free to set up tents where ever they want .
Tell me how homeless people , without access to proper hygiene @ @ @ @ @ @ @ public health ?
” Are the homeless disposing of their trash properly ?
Are they using restroom facilities or the streets ?
Are they able to wash their hands ?
Do they have to wear masks ?
And of course with more homeless comes crime .
It ’ s so bad that some residents are suggesting that one arm themselves ( always a good idea , IMO ) .
They don ’ t feel safe in their own neighborhoods .
Read that story at KOMO News here .
Washingtonians are ordered to stay @ @ @ @ @ @ @ set free .
That ’ s how they protect public health !

by DCG
Demorat Governor and failed presidential candidate Jay Inslee issued a “Stay at Home” order for Washington on March 23. This past Wednesday he confirmed that the order would continue beyond May 4, He did not indicate when that order would be lifted and is expected to provide more details today.
Guarantee you it will go on and on and on.
He also thanked Washingtonians for their commitment to public health, despite an upheaval to daily life.
Want to know exactly HOW committed the governor is himself to public health? Just take a look at what is going on in Seattle (specifically, the Ballard area): The city has paused the cleanup of homeless encampments sweeps.
Here’s a picture of what is going on in downtown Ballard, courtesy of Rob Harwood who shared them with Jason Rantz of MyNorthwest.com. See all the pictures here.
We are primarily funded by readers. Please subscribe and donate to support us!
Due to the Wuhan virus, the city is not making homeless encampments disappear. The homeless are free to set up tents where ever they want. Tell me how homeless people, without access to proper hygiene facilities, are positively contributing to “public health?”
Are the homeless disposing of their trash properly? Are they using restroom facilities or the streets? Are they able to wash their hands? Do they have to wear masks?
And of course with more homeless comes crime. It’s so bad that some residents are suggesting that one arm themselves (always a good idea, IMO). They don’t feel safe in their own neighborhoods. Read that story at KOMO News here.
Washingtonians are ordered to stay home while the homeless and criminals are set free. That’s how they protect public health!
DCG


investmentwatchblog--2020-05-02--Apparently CDC has revised the CV numbers and the 55k alleged CV deaths were actually flu! I can’t b

Apparently CDC has revised the CV numbers and the 55k alleged CV deaths were actually flu !
I can ’ @ @ @ @ @ it , but it is officially on CDC website .

Apparently CDC has revised the CV numbers and the 55k alleged CV deaths were actually flu! I can’t believe they are admitting it, but it is officially on CDC website.t.co/Z7eAxmNQ4A pic.twitter.com/Jpr6YObXzS — Phyllis Camera (@CameraPhyllis) May 1, 2020
Apparently CDC has revised the CV numbers and the 55k alleged CV deaths were actually flu! I can’t believe they are admitting it, but it is officially on CDC website.
Im shocked!?
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h/t Facts-Over-Opinion


investmentwatchblog--2020-05-02--W.H.O. experts own words put a stake through the heart of COVID vaccine research!

“ IF YOU HAVE ANTIBODIES YOU ” RE IMMUNE ” says Dr Judy Mikovits .
Most doctors would agree .
However , the World Health Organisation ( headed by Tedros ) states that there is no evidence that people who have recovered from Covid 19 and have antibodies , are protected from a second infection .
( April 25th ) If that is true then a vaccine is useless , because the function of a vaccine is to stimulate the body to produce antibodies to protect against infection .
“ WHO experts , under Director General of WHO Tedros Adhanom @ @ @ @ @ @ @ having coronavirus antibodies only shows that people had the virus.
” People should really let the W.H.O.
’ s contradiction on Coronavirus antibodies and vaccines REGISTER in their heads .
It means that literally NO COVID-19 VACCINE pushed by W.H.O .
or the Gates Foundation will EVER be effective if having Coronavirus antibodies does not provide protection from Coronavirus .
The whole POINT of vaccines is to stimulate antibodies against the virus they are designed to immunize against .
If antibodies don ’ t provide protection , then vaccines don ’ t provide @ @ @ @ @ @ @ industry ’ s and corrupt power-hungry politicians ’ VACCINE FRAUD falls flat on it ’ s fat , fascist face .
Everybody… and I mean EVERYBODY… needs to watch VAXXED AND VAXXED 2 if you haven ’ t already done so .

“IF YOU HAVE ANTIBODIES YOU”RE IMMUNE” says Dr Judy Mikovits. Most doctors would agree. However, the World Health Organisation (headed by Tedros) states that there is no evidence that people who have recovered from Covid 19 and have antibodies, are protected from a second infection. (April 25th) If that is true then a vaccine is useless, because the function of a vaccine is to stimulate the body to produce antibodies to protect against infection. “WHO experts, under Director General of WHO Tedros Adhanom Ghebreyesus (shown), say that having coronavirus antibodies only shows that people had the virus.”
www.dailymail.co.uk/news/article-8231839/WHO-warns-no-evidence-antibody-tests-coronavirus-survivors-immune.html
People should really let the W.H.O.’s contradiction on Coronavirus antibodies and vaccines REGISTER in their heads.
It means that literally NO COVID-19 VACCINE pushed by W.H.O. or the Gates Foundation will EVER be effective if having Coronavirus antibodies does not provide protection from Coronavirus.
The whole POINT of vaccines is to stimulate antibodies against the virus they are designed to immunize against.
We are primarily funded by readers. Please subscribe and donate to support us!
If antibodies don’t provide protection, then vaccines don’t provide protection, which means the entire vaccine industry’s and corrupt power-hungry politicians’ VACCINE FRAUD falls flat on it’s fat, fascist face.
Everybody… and I mean EVERYBODY… needs to watch VAXXED AND VAXXED 2 if you haven’t already done so.
IW


investmentwatchblog--2020-05-02--#MacroView: The Fed Is Permanently Stuck At Zero

The Fed is now permanently stuck at zero .
The negative 4.8 % decline in GDP in the first quarter was stunning .
Importantly , that reading only encapsulated the impact of the economic “ shutdown ” in that last two weeks of the quarter .
This suggests , considering the entire month of April ( 1/3rd of the quarter ) was a wash , the numbers will worse next quarter .
The NYT ’ s Ben Casselman had a good summary of the devastation : “ U.S .
gross domestic product fell at a 4.8 percent annual rate in @ @ @ @ @ @ @ the Commerce Department said Wednesday .
That is the first decline since 2014 , and the worst contraction since 2008 , the last deep recession .
There is much worse to come .
Widespread layoffs and business closings didn ’ t hit until late March in most of the country .
Economists expect figures from the current quarter , which will capture the shutdown ’ s impact more fully .
GDP likely contracted in the second quarter at an annual rate of 30 percent or more , a scale not seen since the @ @ @ @ @ @ @ Secretary , Steve Mnuchin , stated his optimism for economic recovery on Fox News : While it is certain the economy will eventually bounce back , it may take longer than the White House , and many investors expect .
There are several reasons for this assumption .
Initially , even with the economy open , it is unlikely , even without job losses , individuals will immediately return to old routines .
A survey by Statista encapsulated this view .
It is even harder to expect such activities to immediately occur when @ @ @ @ @ @ @ currently .
While the rate of increase may be slowing , the concerns of infection will likely slow activity .
Even if Steve Mnuchin is correct and activity does come back , a likely second wave of the virus in the fall could be worse than the first .
While I doubt a “ re-shuttering ” of the economy will occur , the psychological impact would likely cripple the recovery further .
The fundamental side of the equation becomes more difficult to justify .
The economy is comprised of 70 % consumption .
@ @ @ @ @ @ @ employment in which they produce , and receive compensation for , first .
Over the next couple of quarters , we are likely to see unemployment rates rise to between 15 and 20 % .
According to the Economic Policy Institute ( EPI ) , while initial jobless claims have surged to over 28 million since March 15th , unemployment could be substantially higher .
The survey by EPI found that for every 10-people who successfully filed for claims , 3 to 4 were unable to register .
A full 20 % said @ @ @ @ @ @ @ difficulty , and long lines were another impediment .
If these numbers are close to accurate , it suggests as many as 50-million Americans have lost their jobs in recent weeks .
The chart below shows the number of individuals in the “ workforce ” as of the end of February and assuming EPI ’ s forecast .
That , as they say , ain ’ t pretty .
More importantly , let ’ s make some basic assumptions about the impact to the overall economy .
Effectively , the current fiscal stimulus @ @ @ @ @ @ @ on the economy .
The more prolonged unemployment remains , the more likely consumption will constrict .
What this suggests is that hopes for a “ V-shaped ” recovery could be misguided .
If our expectations of a slow re-engagement with the economy play out , the employment recovery will be slow also .
As fiscal stimulus plays out , economic growth will struggle to gain traction .
Ironically , this is precisely what we witnessed post the “ Financial Crisis ” in 2008 .
The chart below shows the recovery of GDP @ @ @ @ @ @ @ .
While employment took nearly a decade to recover to pre-crisis lows , wages , GDP , and inflation failed to gain traction .
Such was despite a decade of zero-interest-rate policy by the Fed , unprecedented monetary interventions , and a massive surge in consumer debt .
The problem with a sharp loss of employment is that it creates a negative feedback loop into the economy .
As job losses mount , incomes fall , which reduces personal consumption expenditures ( PCE ) .
This past week PCE plunged as job losses @ @ @ @ @ @ @ in just the last two weeks of March .
Given the entire month of April was shutdown , next quarter ’ s PCE report will be markedly worse .
PCE also tells us there will be a slow recovery in the economy .
There is a negative feedback loop between employment and consumption .
As unemployment rises , consumption falls due to a lack of income .
Since businesses operate based on demand for goods and services , the correlation between PCE , fixed investment , and employment are high .
Despite the @ @ @ @ @ @ @ not immediately return to full operational activity , until consumption returns to more normal levels .
Such a recovery is likely going to frustrate policy-makers and the Fed .
Since the “ Financial Crisis , ” massive levels of monetary accommodation , near zero-interest rates , and loose lending policies did not increase rates of economic prosperity .
As shown below , what kept the economy growing at 2 % were massive increases in debt to sustain the “ standard of living , ” not improve it .
For roughly 80 % of @ @ @ @ @ @ @ to make ends meet .
It isn ’ t just the raw data which supports that claim , but a multitude of studies .
Or , as noted by the WSJ : When looking at the data , it is hard to suggest that Americans are saving 8 % or more of their income .
The differential between incomes and the actual “ cost of living ” is quite substantial .
Researchers at Purdue University found in their study of data culled from across the globe , in the U.S. , $ 132,000 @ @ @ @ @ @ @ ” happy when raising a family of four .
( I can attest to this personally as a father of a family of six ) A Gallup survey found it required $ 58,000 to support a family of four in the U.S. ( Forget about being happy , we are talking about “ just getting by.
” ) If you are in the “ Top 20 % ” of income earners , congratulations , you are probably “ happy.
” For everyone else , it is likely a very different story .
The @ @ @ @ @ @ @ the chart below .
Beginning in 1990 , the “ gap ” between the “ standard of living ” and real disposable incomes inverted .
It was at this moment that wages alone were no longer able to meet the required standard of living .
To make up the difference , consumers turned to debt .
However , following the “ financial crisis , ” even the combined levels of income and debt no longer fill the gap .
Currently , there is a –- $ 3401.99 annual deficit that can not be @ @ @ @ @ @ @ from building wealth , and government statistics obscure the basic reality .
We discussed this point in detail in “ Dimon ’ s View Of Economic Reality Is Still Delusional : ” With an economy now $ 20 Trillion more in debt than it was before the financial crisis , any small increases in interest rates have almost immediate and catastrophic results on a debt-dependent economy .
As the Fed ’ s balance sheet heads toward $ 10 Trillion , the Fed has stated that interest rates will remain low until “ such @ @ @ @ @ @ @ employment and price stability achieved.
” Given economic stability was not achieved in the last decade , it is highly unlikely a more than doubling of the Fed ’ s balance sheet will improve future outcomes .
Unfortunately , given we now have a decade of experience of watching the “ wealth gap ” grow under the Federal Reserve ’ s policies , the next decade will only see the “ gap ” worsen .
While many are hoping for a “ V-shaped ” recovery following the “ restart ” of the economy @ @ @ @ @ @ @ much longer than expected .
We now know that surging debt and deficits inhibit organic growth .
The massive debt levels added to the backs of taxpayers will only ensure the Fed remains trapped at the zero-bound .
The chart below shows the 10-year annualized run rates of economic growth throughout history with projected debt and growth levels over the next decade .
History is pretty clear about future outcomes from the Fed ’ s current actions .
More importantly , these actions are coming at a time where there were already tremendous @ @ @ @ @ @ @ lynchpin , like Japan , remains demographics and interest rates .
As the aging population grows becoming a net drag on “ savings , ” the dependency on the “ social welfare net ” will continue to expand .
The problem is that after a decade of pulling forward future consumption to stimulate economic activity , a further expansion of the wealth gap , increased indebtedness , and low rates of economic growth , will weigh on future economic opportunity for the masses .
Supporting economic growth through increasing levels of debt only @ @ @ @ @ @ @ cost ” uniformly benefits all citizens .
Unfortunately , there is a big difference between growth and prosperity .
But for now , the Fed has no other choice .

by Lance Roberts
The Fed is now permanently stuck at zero.
The negative 4.8% decline in GDP in the first quarter was stunning. Importantly, that reading only encapsulated the impact of the economic “shutdown” in that last two weeks of the quarter. This suggests, considering the entire month of April (1/3rd of the quarter) was a wash, the numbers will worse next quarter.
The NYT’s Ben Casselman had a good summary of the devastation:
“U.S. gross domestic product fell at a 4.8 percent annual rate in the first quarter of the year, the Commerce Department said Wednesday. That is the first decline since 2014, and the worst contraction since 2008, the last deep recession. There is much worse to come. Widespread layoffs and business closings didn’t hit until late March in most of the country. Economists expect figures from the current quarter, which will capture the shutdown’s impact more fully. GDP likely contracted in the second quarter at an annual rate of 30 percent or more, a scale not seen since the Great Depression.”
The Choices We Make
Last week, Treasury Secretary, Steve Mnuchin, stated his optimism for economic recovery on Fox News:
“I think as we begin to reopen the economy in May and June, you’re going to see the economy bounce back in July, August, September. And we are putting in an unprecedented amount of fiscal relief into the economy. You see trillions of dollars that’s making its way into the economy. I think this is going to have a significant impact.”
While it is certain the economy will eventually bounce back, it may take longer than the White House, and many investors expect.
There are several reasons for this assumption.
Initially, even with the economy open, it is unlikely, even without job losses, individuals will immediately return to old routines. A survey by Statista encapsulated this view.
It is even harder to expect such activities to immediately occur when there is no decline in virus cases currently. While the rate of increase may be slowing, the concerns of infection will likely slow activity.
Even if Steve Mnuchin is correct and activity does come back, a likely second wave of the virus in the fall could be worse than the first. While I doubt a “re-shuttering” of the economy will occur, the psychological impact would likely cripple the recovery further.
It Just Takes Money
The fundamental side of the equation becomes more difficult to justify.
The economy is comprised of 70% consumption. To consume, an individual must have employment in which they produce, and receive compensation for, first. Over the next couple of quarters, we are likely to see unemployment rates rise to between 15 and 20%.
According to the Economic Policy Institute (EPI), while initial jobless claims have surged to over 28 million since March 15th, unemployment could be substantially higher.
The survey by EPI found that for every 10-people who successfully filed for claims, 3 to 4 were unable to register. A full 20% said they didn’t file due to difficulty, and long lines were another impediment.
If these numbers are close to accurate, it suggests as many as 50-million Americans have lost their jobs in recent weeks. The chart below shows the number of individuals in the “workforce” as of the end of February and assuming EPI’s forecast.
That, as they say, ain’t pretty.
More importantly, let’s make some basic assumptions about the impact to the overall economy.
Total inflation-adjusted GDP = $18.987 Trillion
Median real incomes: $63,179
50 Million job losses x 50,000 = $3.16 Trillion
Current bailouts at 14% of GDP = $2.6 Trillion
Effectively, the current fiscal stimulus is a wash relative to the impact on the economy. The more prolonged unemployment remains, the more likely consumption will constrict.
No Economic Swoosh
What this suggests is that hopes for a “V-shaped” recovery could be misguided. If our expectations of a slow re-engagement with the economy play out, the employment recovery will be slow also. As fiscal stimulus plays out, economic growth will struggle to gain traction.
Ironically, this is precisely what we witnessed post the “Financial Crisis” in 2008. The chart below shows the recovery of GDP, employment, wages, and inflation.
While employment took nearly a decade to recover to pre-crisis lows, wages, GDP, and inflation failed to gain traction.
Such was despite a decade of zero-interest-rate policy by the Fed, unprecedented monetary interventions, and a massive surge in consumer debt.
No Money, More Problems
The problem with a sharp loss of employment is that it creates a negative feedback loop into the economy. As job losses mount, incomes fall, which reduces personal consumption expenditures (PCE).
This past week PCE plunged as job losses surged. Importantly, this decline occurred in just the last two weeks of March. Given the entire month of April was shutdown, next quarter’s PCE report will be markedly worse.
We are primarily funded by readers. Please subscribe and donate to support us!
PCE also tells us there will be a slow recovery in the economy.
There is a negative feedback loop between employment and consumption. As unemployment rises, consumption falls due to a lack of income. Since businesses operate based on demand for goods and services, the correlation between PCE, fixed investment, and employment are high.
Despite the reopening of the economy, businesses will not immediately return to full operational activity, until consumption returns to more normal levels. Such a recovery is likely going to frustrate policy-makers and the Fed.
Since the “Financial Crisis,” massive levels of monetary accommodation, near zero-interest rates, and loose lending policies did not increase rates of economic prosperity. As shown below, what kept the economy growing at 2% were massive increases in debt to sustain the “standard of living,” not improve it.
For roughly 80% of Americans, there is a monthly struggle to make ends meet. It isn’t just the raw data which supports that claim, but a multitude of studies.
Cost Of Happiness
“The [2019] survey found that 58 percent of respondents had less than $1,000 saved.” – Gobankingrates.com
Or, as noted by the WSJ:
“The American middle class is falling deeper into debt to maintain a middle-class lifestyle. Cars, college, houses, and medical care have become steadily more costly, but incomes have been largely stagnant for two decades, despite a recent uptick. Filling the gap between earning and spending is an explosion of finance into nearly every corner of the consumer economy. Consumer debt, not counting mortgages, has climbed to $4 trillion—higher than it has ever been even after adjusting for inflation.”
When looking at the data, it is hard to suggest that Americans are saving 8% or more of their income.
The differential between incomes and the actual “cost of living” is quite substantial. Researchers at Purdue University found in their study of data culled from across the globe, in the U.S., $132,000 is the optimal income for “feeling” happy when raising a family of four. (I can attest to this personally as a father of a family of six)
A Gallup survey found it required $58,000 to support a family of four in the U.S. (Forget about being happy, we are talking about “just getting by.”)
If you are in the “Top 20%” of income earners, congratulations, you are probably “happy.” For everyone else, it is likely a very different story.
Living On Debt
The Fed’s problem is shown in the chart below. Beginning in 1990, the “gap” between the “standard of living” and real disposable incomes inverted. It was at this moment that wages alone were no longer able to meet the required standard of living. To make up the difference, consumers turned to debt.
However, following the “financial crisis,” even the combined levels of income and debt no longer fill the gap. Currently, there is a –-$3401.99 annual deficit that cannot be filled.
The debt-to-income problem keeps individuals from building wealth, and government statistics obscure the basic reality. We discussed this point in detail in “Dimon’s View Of Economic Reality Is Still Delusional:”
“The median net worth of households in the middle 20% of income rose 4% in inflation-adjusted terms to $81,900 between 1989 and 2016, the latest available data. For households in the top 20%, median net worth more than doubled to $811,860. And for the top 1%, the increase was 178% to $11,206,000. Put differently, the value of assets for all U.S. households increased from 1989 through 2016 by an inflation-adjusted $58 trillion. A third of the gain—$19 trillion—went to the wealthiest 1%, according to a Journal analysis of Fed data. ‘On the surface, things look pretty good, but if you dig a little deeper, you see different subpopulations are not performing as well,’ said Cris deRitis, deputy chief economist at Moody’s Analytics.” – WSJ The Fed’s Trapped At Zero The debt problem exposes the risk posed to the Fed and why they are now forever trapped at the zero-bound.
With an economy now $20 Trillion more in debt than it was before the financial crisis, any small increases in interest rates have almost immediate and catastrophic results on a debt-dependent economy.
As the Fed’s balance sheet heads toward $10 Trillion, the Fed has stated that interest rates will remain low until “such time as the dual mandates of full employment and price stability achieved.” Given economic stability was not achieved in the last decade, it is highly unlikely a more than doubling of the Fed’s balance sheet will improve future outcomes. Unfortunately, given we now have a decade of experience of watching the “wealth gap” grow under the Federal Reserve’s policies, the next decade will only see the “gap” worsen. While many are hoping for a “V-shaped” recovery following the “restart” of the economy, the reality is recovery may take much longer than expected. We now know that surging debt and deficits inhibit organic growth. The massive debt levels added to the backs of taxpayers will only ensure the Fed remains trapped at the zero-bound. The chart below shows the 10-year annualized run rates of economic growth throughout history with projected debt and growth levels over the next decade. End Game History is pretty clear about future outcomes from the Fed’s current actions. More importantly, these actions are coming at a time where there were already tremendous headwinds plaguing future economic growth. An aging demographic
A heavily indebted economy
A decline in exports
Slowing domestic economic growth rates.
An underemployed younger demographic.
An inelastic supply-demand curve
Weak industrial production
Dependence on productivity increases The lynchpin, like Japan, remains demographics and interest rates. As the aging population grows becoming a net drag on “savings,” the dependency on the “social welfare net” will continue to expand. The problem is that after a decade of pulling forward future consumption to stimulate economic activity, a further expansion of the wealth gap, increased indebtedness, and low rates of economic growth, will weigh on future economic opportunity for the masses. Supporting economic growth through increasing levels of debt only makes sense if “growth at all cost” uniformly benefits all citizens. Unfortunately, there is a big difference between growth and prosperity. But for now, the Fed has no other choice.


investmentwatchblog--2020-05-02--Musk tweets he’s selling almost all his physical possessions…  Knocks $14 billion off TESLA value

Tesla stock tanks after Elon Musk tweets price is ‘ too high ’ and says he ’ s selling ‘ all possessions ’ including his home TESLA stock plummeted Friday after founder Elon Musk complained the “ price is too high ” and revealed he is selling all his possessions .
The stock was trading at 760.23 when Musk tweeted , falling to a session low of 717.64 after the posts , according to CNBC .
The coronavirus forced the closure of his auto plant in Fremont , California in March , and Musk has been critical of stay-at-home orders @ @ @ @ @ @ @ comments brought shares down 5.6 percent .
“ I am selling almost all physical possessions .
Will own no house , ” Musk tweeted on Friday .
“ Tesla stock price is too high imo , ” he added .
One year ago Musk settled a dispute with the SEC over his use of Twitter , agreeing to submit his public statements about Tesla ’ s finances and other topics to vetting by the company ’ s legal counsel .
On Friday Musk also demanded that people are given “ their FREEDOM ” @ @ @ @ @ @ @ US national anthem .
Tesla stock spiked in recent days on good news surrounding a first quarter profit despite the coronavirus pandemic , but on Friday , the carmaker ’ s stock opened lower .
At 8:11 a.m. PT , CEO Elon Musk made a bizarre declaration .
“ Tesla stock is too high ” in my opinion , the CEO tweeted .
At the time of this writing , Tesla stock is down 10 % .
It was down as much as 12 % .

Tesla stock tanks after Elon Musk tweets price is ‘too high’ and says he’s selling ‘all possessions’ including his home
TESLA stock plummeted Friday after founder Elon Musk complained the “price is too high” and revealed he is selling all his possessions.
The stock was trading at 760.23 when Musk tweeted, falling to a session low of 717.64 after the posts, according to CNBC.
The coronavirus forced the closure of his auto plant in Fremont, California in March, and Musk has been critical of stay-at-home orders.
The impact of Friday’s comments brought shares down 5.6 percent.
“I am selling almost all physical possessions. Will own no house,” Musk tweeted on Friday.
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“Tesla stock price is too high imo,” he added.
One year ago Musk settled a dispute with the SEC over his use of Twitter, agreeing to submit his public statements about Tesla’s finances and other topics to vetting by the company’s legal counsel.
On Friday Musk also demanded that people are given “their FREEDOM” as he tweeted the words to the US national anthem.
Tesla CEO Elon Musk says stock price is ‘too high,’ price falls 10%
Tesla stock spiked in recent days on good news surrounding a first quarter profit despite the coronavirus pandemic, but on Friday, the carmaker’s stock opened lower. At 8:11 a.m. PT, CEO Elon Musk made a bizarre declaration.
“Tesla stock is too high” in my opinion, the CEO tweeted. At the time of this writing, Tesla stock is down 10%. It was down as much as 12%.


investmentwatchblog--2020-05-02--NEW TRUMP AD: Exposed: Democrats’ double standard on believing women

Sometimes its best to just let an idiot hang themselves .
But that ad is DEVASTATING !

Sometimes its best to just let an idiot hang themselves.
But that ad is DEVASTATING!
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TD


investmentwatchblog--2020-05-02--2020 HYPER-BUBBLE – Will it Meltdown, or Meltup? Mike Maloney

“ The stock markets are absolutely , positively in a hyper-bubble .
The only question is , will they meltdown…or @ @ @ @ @ Maloney for today ’ s look at the extreme valuations being placed on the markets @ @ @ @ @ Buffet himself .
Michael Maloney is a precious metals investment expert and historian .
He @ @ @ @ @ of GoldSilver.com , a global leader in gold and silver sales/storage and one of the @ @ @ @ @ regarded investment education companies .
He is author of the highest selling precious metals investment @ @ @ @ @ Rich Dad ’ s Advisors : Guide to Investing In Gold and Silver .
In @ @ @ @ @ been a precious metals investor advisor to “ Rich Dad ” founder Robert Kiyosaki .
@ @ @ @ @ Mike is regarded as an expert on economic cycles and capitalizing on the opportunities they @ @

Gold Silver (w/ Mike Maloney), Released on 5/1/20
“The stock markets are absolutely, positively in a hyper-bubble. The only question is, will they meltdown…or meltup?” Join Mike Maloney for today’s look at the extreme valuations being placed on the markets, as measured by Warren Buffet himself.
We are primarily funded by readers. Please subscribe and donate to support us!
Michael Maloney is a precious metals investment expert and historian. He is the founder and owner of GoldSilver.com, a global leader in gold and silver sales/storage and one of the world’s most highly regarded investment education companies. He is author of the highest selling precious metals investment book of all time, Rich Dad’s Advisors: Guide to Investing In Gold and Silver . In addition, Mr. Maloney has been a precious metals investor advisor to “Rich Dad” founder Robert Kiyosaki. A student of economics, Mike is regarded as an expert on economic cycles and capitalizing on the opportunities they afford.


investmentwatchblog--2020-05-02--Dr. Ron Paul Explains Why Cash for Clunkers Hurts Poor People and is Bad for the Economy

Ron Paul is the only politician who genuininely cares about poor people .
Small wonder that both Dem and Repub @ @ @ @ @ dismiss or demonize him .
Must .
Bow .
Down .
To .
Wall .
@ @ @ @ @ how far the Repub Party could have gone in the future if they had actually @ @ @ @ @ guy and his ( formerly ) Republican Party Ideals ?
The Repubs blew it .
@ @ @ @ @ have won a whole new generation of trully dedicated voters .
Hopefully , he ’ @ @ @ @ @ again .
The Repubs don ’ t want him on board .

Ron Paul is the only politician who genuininely cares about poor people.
Small wonder that both Dem and Repub politicians and the MSM either dismiss or demonize him.
Must. Bow. Down. To. Wall. Street.
Can you imagine how far the Repub Party could have gone in the future if they had actually demonstrated high-level respect for this guy and his (formerly) Republican Party Ideals?
We are primarily funded by readers. Please subscribe and donate to support us!
The Repubs blew it . Big time. They could have won a whole new generation of trully dedicated voters.
Hopefully, he’ll just start running Libertarian again. The Repubs don’t want him on board.
AC


investmentwatchblog--2020-05-02--You think it’s over? It has not even started yet!

The second wave increases the propensity .
Anti mask tards are directly responsible along with the cable .

The second wave increases the propensity.
Anti mask tards are directly responsible along with the cable.
We are primarily funded by readers. Please subscribe and donate to support us!
AC