investmentwatchblog--2020-09-18--The Saving Problem in America: Alternatives and Reforms

Since before covid-19 and the lockdown , I have written articles that touch on the purpose and importance of personal savings , and more importantly , why the lack of personal savings was going to make an economic crisis in the year 2020 potentially tragic for most Americans .
As a result , I have been interviewed a couple of times specifically on the topic of personal savings .
These interactions have indicated to me that people do not understand the importance of savings and rather believe the demonization of savings as a “ leakage ” from the economic system @ @ @ @ @ @ @ the greatest threats to the economy .
Even more importantly , I discussed the reasons why Americans save so little and the related dangers , and I discussed how you can get around those government interventions with alternative strategies .
I thought most people knew these strategies , but apparently that is not the case and thus the rationale for this article .
In order for the hunter-gatherer society to become settled and civilized with sedentary agriculture , people must have saved provisions or found themselves in an area of superabundance , i.e.
@ @ @ @ @ @ @ is savings that sustained group members while structures were built and fields were plowed , seeded , and harvested .
Economics teachers use the story of Robinson Crusoe , who toiled to catch extra fish or gather extra coconuts in order to sustain himself while he built a fishing net or coconut-harvesting tool that could bring him many times the daily output from just working with his hands .
His new higher productivity allowed Crusoe to pursue other projects like building a hut , fashioning a rescue signal , or just enjoying more @ @ @ @ @ @ @ and business savings are just as important for a modern economy to grow in a stable fashion .
Money is deposited in bank , brokerage , and retirement accounts .
Banks make money available for car loans , home mortgages , and for businesses to make payroll and to finance accounts receivable .
Brokerage and retirement accounts are used to fund larger businesses , allowing them to expand and to implement new technologies .
Therefore , saving is the fuel for the engine of economic growth and higher standards of livings , the @ @ @ @ @ @ @ process is what increases real wage rates , decreases hours worked , and increases life expectancy .
For business , it is what allows companies to grow , to become more productive , and to produce improved and brand-new products .
Again , all of this seemed to be unknown or unrealized by many smart people .
When an economy enters an industrial or technological revolution , wage rates rise and saving increases .
In post–World War II America the personal saving rate was at least 10 percent every year .
In more @ @ @ @ @ @ @ downward trend that began when the US was taken off the gold standard in August 1971 and continued to the end of the housing bubble , when the personal saving rate was almost zero .
Since then , the trend has been positive and there was a giant spike to over 30 percent when the pandemic hit , along with a record pay-down in credit card debt .
Unfortunately , this upward trend has been offset by significant increases in debt by individuals and governments .
Individuals borrow money on their credit cards @ @ @ @ @ @ @ and other forms of debt .
Levels of household debt have increased , but the measure relative to income or GDP actually decreased prior to the lockdown .
The massive increase in the national debt has been disastrous waste .
Higher levels of personal saving and lower levels of debt would have allowed many more people to ride out the lockdown and maintain their independence instead of becoming dependents of and subject to the whims of our dysfunctional Congress .
Here are some of the reasons why the personal saving rate has decreased @ @ @ @ @ @ @ inflation : if the Fed continues to print money , then the purchasing power of money will decline .
On the gold standard the purchasing power of the dollar generally increased , so that the purchasing power of your savings appreciated rather than depreciating , plus you earned interest .
2 .
The Fed also has kept its policy interest rates ultralow , often near zero .
The interest rate on my savings account is .01 of 1 percent , so if I had $ 100 in my savings account for a year @ @ @ @ @ @ @ interest .
Not much of an incentive there !
3 .
Taxation : even if you were to earn a decent amount of interest income on your savings , it would be taxed as personal income by the IRS .
4 .
Social safety net : Given the fact that we have unemployment insurance and around a hundred welfare programs , there is far less reason to save to protect yourself against economic downturns and unemployment .
The $ 600 per week in extra unemployment benefits works out to more than $ 30,000 @ @ @ @ @ @ @ actually had people with jobs trying to become unemployed and even getting covid-19 to avoid work .
There are plenty of alternatives to traditional savings accounts .
You can invest in bonds and stocks that pay dividends .
The problem here is that the interest rate on bonds and the dividends on stocks are relatively low ; even junk bonds now offer historically low rates .
Plus , given that bond and stock markets are extremely overvalued and poised to correct or crash , these traditional alternatives are risky .
The same is @ @ @ @ @ @ @ One alternative that once was a traditional investment is precious metals .
Today , it is an alternative investment to cash , because to the extent that their value moves in the opposite direction to the US dollar you can hedge against your risk of a falling dollar .
There are some precious metal mining stocks that offer dividends , but I am not qualified to make such recommendations and this whole sector is volatile .
The one alternative that everyone should be aware of , but apparently is not , involves your @ @ @ @ @ @ @ fact the rationale for this article .
Every pay period do your shopping as you normally do , except purchase a couple of items in bulk at a discount store .
The per unit price advantage of the discounted bulk purchase over normal purchase is typically significant .
For example , if you compared purchasing a three-pack of large Crest mouthwash from Sam ’ s Club to purchasing one regular-sized bottle from CVS Pharmacy , the price difference is ten cents per ounce at Sam ’ s Club compared to forty cents per @ @ @ @ @ @ @ of qualifiers here .
You could buy the large bottle at CVS and reduce the price differential , and both stores occasionally offer discounts of this product ; and of course you have to buy an annual membership at Sam ’ s Club .
There are three qualifiers or restrictions to this type of bulk discount shopping .
First , it must be restricted to nonperishable goods such as paper goods , toiletries , canned goods , drugs and supplements , soaps and cleaning products , office supplies , wine and spirits , @ @ @ @ @ @ @ cherries , for example .
Second , it must be goods that you already use on a regular basis .
Three cases of canned beets are no good if you don ’ t like canned beats .
Also , don ’ t accumulate more than one year ’ s worth of inventory of a product .
Unexpected job changes , moving locations , or family dynamics could leave you holding the bag .
Speaking of bags , they are an important category of bulk buying , including lawn bags , trash bags , @ @ @ @ @ @ @ .
Third , you have to have the space to store your inventory safely and the ability to rotate the inventory ( last in , first out ) .
All told , this alternative earns a hefty return similar to or much greater than interest income .
Plus , it means fewer trips to the store or unexpectedly running out of items that you need at the last minute .
An unexpected bonus was that during the lockdown the prospect of seeing the toilet paper and baby diaper aisles empty and the meat @ @ @ @ @ @ @ of meat with triple the normal prices seemed to me a lot less traumatic than it otherwise might have been .
Of course , the solution is fixing the problems listed above : get the Fed out of the money–printing and interest rate–rigging businesses , stop the taxing of ( interest ) income , and repeal or at least cut and reform the social safety net welfare programs .
Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics .
He @ @ @ @ @ @ @ frequent guest on national radio shows .

by Mark Thornton via Mises
Since before covid-19 and the lockdown, I have written articles that touch on the purpose and importance of personal savings, and more importantly, why the lack of personal savings was going to make an economic crisis in the year 2020 potentially tragic for most Americans.
As a result, I have been interviewed a couple of times specifically on the topic of personal savings. These interactions have indicated to me that people do not understand the importance of savings and rather believe the demonization of savings as a “leakage” from the economic system and that hoarding money is one of the greatest threats to the economy.
Even more importantly, I discussed the reasons why Americans save so little and the related dangers, and I discussed how you can get around those government interventions with alternative strategies. I thought most people knew these strategies, but apparently that is not the case and thus the rationale for this article.
The Importance of Saving
In order for the hunter-gatherer society to become settled and civilized with sedentary agriculture, people must have saved provisions or found themselves in an area of superabundance, i.e., a Garden of Eden. It is savings that sustained group members while structures were built and fields were plowed, seeded, and harvested.
Economics teachers use the story of Robinson Crusoe, who toiled to catch extra fish or gather extra coconuts in order to sustain himself while he built a fishing net or coconut-harvesting tool that could bring him many times the daily output from just working with his hands. His new higher productivity allowed Crusoe to pursue other projects like building a hut, fashioning a rescue signal, or just enjoying more tropical leisure.
Of course, personal and business savings are just as important for a modern economy to grow in a stable fashion. Money is deposited in bank, brokerage, and retirement accounts. Banks make money available for car loans, home mortgages, and for businesses to make payroll and to finance accounts receivable. Brokerage and retirement accounts are used to fund larger businesses, allowing them to expand and to implement new technologies. Therefore, saving is the fuel for the engine of economic growth and higher standards of livings, the free market.
For individuals, this process is what increases real wage rates, decreases hours worked, and increases life expectancy. For business, it is what allows companies to grow, to become more productive, and to produce improved and brand-new products. Again, all of this seemed to be unknown or unrealized by many smart people.
Why No Saving?
When an economy enters an industrial or technological revolution, wage rates rise and saving increases. In post–World War II America the personal saving rate was at least 10 percent every year. In more recent decades, there has been a downward trend that began when the US was taken off the gold standard in August 1971 and continued to the end of the housing bubble, when the personal saving rate was almost zero. Since then, the trend has been positive and there was a giant spike to over 30 percent when the pandemic hit, along with a record pay-down in credit card debt.
Unfortunately, this upward trend has been offset by significant increases in debt by individuals and governments. Individuals borrow money on their credit cards, mortgage refinance, student loans, and other forms of debt. Levels of household debt have increased, but the measure relative to income or GDP actually decreased prior to the lockdown. The massive increase in the national debt has been disastrous waste.
Higher levels of personal saving and lower levels of debt would have allowed many more people to ride out the lockdown and maintain their independence instead of becoming dependents of and subject to the whims of our dysfunctional Congress.
Here are some of the reasons why the personal saving rate has decreased in recent decades:
1. Price inflation: if the Fed continues to print money, then the purchasing power of money will decline. On the gold standard the purchasing power of the dollar generally increased, so that the purchasing power of your savings appreciated rather than depreciating, plus you earned interest.
2. The Fed also has kept its policy interest rates ultralow, often near zero. The interest rate on my savings account is .01 of 1 percent, so if I had $100 in my savings account for a year, I would get one penny in interest. Not much of an incentive there!
3. Taxation: even if you were to earn a decent amount of interest income on your savings, it would be taxed as personal income by the IRS.
4. Social safety net: Given the fact that we have unemployment insurance and around a hundred welfare programs, there is far less reason to save to protect yourself against economic downturns and unemployment. The $600 per week in extra unemployment benefits works out to more than $30,000 on an annual basis. This incentive actually had people with jobs trying to become unemployed and even getting covid-19 to avoid work.
We are primarily funded by readers. Please subscribe and donate to support us!
Alternatives to Saving
There are plenty of alternatives to traditional savings accounts. You can invest in bonds and stocks that pay dividends. The problem here is that the interest rate on bonds and the dividends on stocks are relatively low; even junk bonds now offer historically low rates. Plus, given that bond and stock markets are extremely overvalued and poised to correct or crash, these traditional alternatives are risky. The same is true for real estate and land.
One alternative that once was a traditional investment is precious metals. Today, it is an alternative investment to cash, because to the extent that their value moves in the opposite direction to the US dollar you can hedge against your risk of a falling dollar. There are some precious metal mining stocks that offer dividends, but I am not qualified to make such recommendations and this whole sector is volatile.
The one alternative that everyone should be aware of, but apparently is not, involves your shopping behavior. This alternative is in fact the rationale for this article.
Every pay period do your shopping as you normally do, except purchase a couple of items in bulk at a discount store. The per unit price advantage of the discounted bulk purchase over normal purchase is typically significant.
For example, if you compared purchasing a three-pack of large Crest mouthwash from Sam’s Club to purchasing one regular-sized bottle from CVS Pharmacy, the price difference is ten cents per ounce at Sam’s Club compared to forty cents per ounce at CVS. There are plenty of qualifiers here. You could buy the large bottle at CVS and reduce the price differential, and both stores occasionally offer discounts of this product; and of course you have to buy an annual membership at Sam’s Club.
There are three qualifiers or restrictions to this type of bulk discount shopping.
First, it must be restricted to nonperishable goods such as paper goods, toiletries, canned goods, drugs and supplements, soaps and cleaning products, office supplies, wine and spirits, etc. Do not stock up on cherries, for example.
Second, it must be goods that you already use on a regular basis. Three cases of canned beets are no good if you don’t like canned beats. Also, don’t accumulate more than one year’s worth of inventory of a product. Unexpected job changes, moving locations, or family dynamics could leave you holding the bag. Speaking of bags, they are an important category of bulk buying, including lawn bags, trash bags, freezer bags, sandwich bags, etc.
Third, you have to have the space to store your inventory safely and the ability to rotate the inventory (last in, first out).
All told, this alternative earns a hefty return similar to or much greater than interest income. Plus, it means fewer trips to the store or unexpectedly running out of items that you need at the last minute.
An unexpected bonus was that during the lockdown the prospect of seeing the toilet paper and baby diaper aisles empty and the meat counters stocked with only a few pieces of meat with triple the normal prices seemed to me a lot less traumatic than it otherwise might have been.
Of course, the solution is fixing the problems listed above: get the Fed out of the money–printing and interest rate–rigging businesses, stop the taxing of (interest) income, and repeal or at least cut and reform the social safety net welfare programs.
Author:
Contact Mark Thornton
Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics. He has authored seven books and is a frequent guest on national radio shows.


investmentwatchblog--2020-09-18--CNN’s Kaitlin Collins obsesses over masks when the cameras are on, but when she thinks they’re off,

RULES FOR THEE BUT NOT FOR ME .
CNN ’ s Kaitlin Collins obsesses over masks when the cameras are @ @ @ @ @ thinks they ’ re off , off comes her mask !

CNN’s Kaitlin Collins obsesses over masks when the cameras are on, but when she thinks they’re off, off comes her mask! pic.twitter.com/IpPSvgDqhc — Trump War Room – Text TRUMP to 88022 (@TrumpWarRoom) September 16, 2020
RULES FOR THEE BUT NOT FOR ME.
CNN’s Kaitlin Collins obsesses over masks when the cameras are on, but when she thinks they’re off, off comes her mask!
We are primarily funded by readers. Please subscribe and donate to support us!
h/t Facts-Over-Opinion


investmentwatchblog--2020-09-18--Victorian Government Pushes New Bill to Detain ‘Conspiracy Theorists,’ Anti-Lockdown Protesters, and

Victorian Government Pushes New Bill to Detain ‘Conspiracy Theorists,’ Anti-Lockdown Protesters, and Families

The Victorian government will debate a new bill in the State Parliament this week which would hand authorities the power @ @ @ @ @ theorists ” and people suspected to likely spread coronavirus , such as anti-lockdown protesters and @ @ @ @ @ passed , the Omnibus ( Emergency Measures ) Bill will allow the state to detain @ @ @ @ @ “ high risk ” or likely to negligently spread COVID-19 , either if they have @ @ @ @ @ in contact with an infected person .
According to The Age , a state government @ @ @ @ @ be applied to “ conspiracy theorists who refuse to self-isolate or severely drug-affected or mentally @ @ @ @ @ have the capacity to quarantine .
”

The Victorian government will debate a new bill in the State Parliament this week which would hand authorities the power to forcibly detain “conspiracy theorists” and people suspected to likely spread coronavirus, such as anti-lockdown protesters and their close contacts.
If passed, the Omnibus (Emergency Measures) Bill will allow the state to detain anyone they suspect of being “high risk” or likely to negligently spread COVID-19, either if they have the virus or have been in contact with an infected person.
According to The Age, a state government spokesman said the rule could be applied to “conspiracy theorists who refuse to self-isolate or severely drug-affected or mentally impaired people who do not have the capacity to quarantine.”


investmentwatchblog--2020-09-18--America hasn’t seen unemployment rise this sharply since 1948 — and experts say it’s not over yet… W

America hasn’t seen unemployment rise this sharply since 1948 — and experts say it’s not over yet… Worse than the Great Depression?

“ Even with the economy slowly starting to reopen , the number of unemployed should continue to rise sharply as @ @ @ @ @ businesses that have tried but not succeeded at holding the line , are now laying @ @ @ @ @ Naroff , president and founder of Naroff Economic Advisors in Bucks County , said in @ @ @ @ @ He and other economists expect the unemployment rate to exceed 20 % .

“Even with the economy slowly starting to reopen, the number of unemployed should continue to rise sharply as governments, as well as businesses that have tried but not succeeded at holding the line, are now laying off workers,” Joel Naroff, president and founder of Naroff Economic Advisors in Bucks County, said in a note to clients. He and other economists expect the unemployment rate to exceed 20%.
www.inquirer.com/business/us-unemployment-record-rate-april-20200508.html


investmentwatchblog--2020-09-19--‘This Is Going to Bankrupt Me’: Americans Rack Up $45B Worth of Medical Debt in Collections

Cathy Munzer is a single mother who lost her health insurance during the coronavirus pandemic .
Munzer , who was @ @ @ @ @ at two major gyms in Manhattan , was laid off in March and has struggled @ @ @ @ @ her medical bills are in collections after she fell behind on payments from being treated @ @ @ @ @ kidney stones .
After that , she began paying $ 200 per month for health @ @ @ @ @ a New York-based health insurance company , but it came with a $ 2,000 deductible @ @ @ @ @ her medical expenses further due to out-of-pocket costs .
Every time she has visited a @ @ @ @ @ s paid $ 150 per visit , she says .
“ This is going to @ @ @ @ @ fear is depleting my savings , ” says Munzer , 53 , who ’ s @ @ @ @ @ surgery because her insurance won ’ t cover it .
“ What happens when unemployment @ @ @ @ @ I survive ?
”

Cathy Munzer is a single mother who lost her health insurance during the coronavirus pandemic. Munzer, who was a yoga and fitness instructor at two major gyms in Manhattan, was laid off in March and has struggled to find work.
Now her medical bills are in collections after she fell behind on payments from being treated in an emergency room for kidney stones.
After that, she began paying $200 per month for health coverage through Fidelis Care, a New York-based health insurance company, but it came with a $2,000 deductible. That’s increased her medical expenses further due to out-of-pocket costs. Every time she has visited a doctor since then she’s paid $150 per visit, she says.
“This is going to bankrupt me. My biggest fear is depleting my savings,” says Munzer, 53, who’s also been putting off oral surgery because her insurance won’t cover it. “What happens when unemployment runs out? How will I survive?”


investmentwatchblog--2020-09-19--“Inflation” and America’s Accelerating Class War

Those who don ’ t see the fragmentation , the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling .
I recently came across the idea that inflation is a two-factor optimization problem : inflation is necessary for the macro-economy ( or so we ’ re told ) and so the trick for policy makers ( and their statisticians who measure the economy ) is to maximize inflation in the economy but only to the point that it doesn ’ t snuff out businesses and starve workers to death .
From this perspective , @ @ @ @ @ @ @ negative consequences of inflation for the good of the whole economy .
This narrative , so typical of economics , ignores the core reality of “ inflation ” in America : it ’ s a battleground for the class war that ’ s accelerating .
Allow me to explain .
“ Inflation ” affects different classes very differently .
I put “ inflation ” in italics because it ’ s not one phenomenon , it ’ s numerous phenomena crammed into one deceptively simple word .
When “ inflation ” boosts the value @ @ @ @ @ @ @ diamonds , quatloos etc .
to the moon , those who own these assets are cheering .
When “ inflation ” reduces the purchasing power of wages , those whose only income is earned from their labor suffer a decline in their lifestyles as their wages buy fewer goods and services .
They are suffering while the wealthy owners of soaring assets are cheering .
The Federal Reserve and federal authorities are not neutral observers in this war .
The Fed only cares about two things : enriching the banking sector and further @ @ @ @ @ @ @ makes money by lending newly created currency to borrowers .
No borrowers or new loans–banks go broke .
So the Fed must generate the right kind of “ inflation ” : it must lower the cost of borrowing money ( deflating the cost of borrowing ) by reducing the rate of interest borrowers pay , and it must “ inflate ” the market value of the collateral banks and Wall Street need to support more debt : commercial buildings , homes , stocks , bonds , etc .
This “ inflation ” of @ @ @ @ @ @ @ these assets richer , while impoverishing those who must buy them with wages that are losing purchasing power .
The Fed doesn ’ t care if small businesses go broke or households slide into poverty ; the Fed ’ s only concerns are maintaining “ inflation ” in asset valuations and “ deflation ” in the cost of borrowing , so that debt-serfs , zombie corporations , local and federal government–everyone–can borrow more money , further enriching banks and Wall Street .
This is the sole goal of the Fed .
Everything else @ @ @ @ @ @ @ to this , of course , but they fall on “ the little people ” so economists , the Fed and federal officials don ’ t bother to even track the downsides .
Thus we have the nonsensical games government statisticians play to keep official measurements of “ inflation ” low .
This serves to obscure the reality that real-world “ inflation ” in the cost of education , childcare , health insurance , rent , and so on–all the big-ticket household costs–is soaring , stripping away the purchasing power of wages .
@ @ @ @ @ @ @ wages and purchasing power can be understood .
Back in the day , I could rent my own studio apartment for half a week ’ s pay .
I was young and not well-paid , but I could still rent a crummy apartment for half a week ’ s pay : 2.5 day ’ s wages .
Try finding an apartment for half a week ’ s pay in a major city .
Young workers are paying two week ’ s pay just to rent a room .
This is a massive loss @ @ @ @ @ @ @ Meanwhile , those with the right kind of assets are experiencing fantasic increases in their unearned income .
These increases in income ( and wealth ) far exceed the modest impacts of real-world inflation on these owners of the right kind of assets .
Let ’ s start with the the wrong kind of asset : a savings account .
Where savers earned 5.25 % on their savings as a regulatory requirement in the 1960s , now they earn less than nothing : even the bogus “ official inflation ” is 2 % @ @ @ @ @ @ @ less on savings .
So savers lose money every day .
Those who bought bonds and stocks and real estate–the right kind of assets–have scored enormous gains in wealth and income .
There ’ s just one little tiny problem with the right kind of assets : the vast majority are owned by the top 5 % of households , with the top 1 % owning 40 % and the top 0.1 % owning 20 % –more than the bottom 80 % own .
There aren ’ t just wealth-income classes –those who @ @ @ @ @ @ @ ’ t– there are demographic and age classes , too .
Young wage earners are mostly priced out of buying these assets with wages , unless they borrow staggering sums of money and devote most of their income to servicing their debts ( student loans , auto loans , mortgage , etc. )
.
Retirees have been forced into gambling their retirement funds in the Fed-rigged casinos , which just so happen to crash every decade or so , wiping out the naive punters who believed “ the Fed has our backs.
” @ @ @ @ @ @ @ abstract debate –it ’ s class war .
And it ’ s not just between two classes , those who depend on wages/earned income and those reaping the trillions in unearned income and wealth ; there are warring classes fractured by age , demographics , political loyalties and issues of who ’ s hoarding what : every one of these fractured classes is competing for scarce resources , scarce income and scarce security .
Those who don ’ t see the fragmentation , the scarcities and the battlelines being drawn will be surprised @ @ @ @ @ @ @ As noted here previously , The banquet of consequences is being laid out , and there won ’ t be much choice in the seating .
My new book is available !
A Hacker ’ s Teleology : Sharing the Wealth of Our Shrinking Planet 20 % and 15 % discounts end September 30 ( Kindle $ 7 , print $ 17 ) Read excerpts of the book for free ( PDF ) .
The Story Behind the Book and the Introduction .
AxisOfEasy Salon # 22 : When the going gets weird @ @ @ @ @ @ @ 1 hr ) A Hacker ’ s Teleology : Sharing the Wealth of Our Shrinking Planet ( Kindle $ 8.95 , print $ 20 , audiobook coming soon ) Read the first section for free ( PDF ) .
Will You Be Richer or Poorer ?
: Profit , Power , and AI in a Traumatized World ( Kindle $ 5 , print $ 10 , audiobook ) Read the first section for free ( PDF ) .
Pathfinding our Destiny : Preventing the Final Fall of Our Democratic Republic ( $ 5 @ @ @ @ @ @ @ print ) , ( audiobook ) : Read the first section for free ( PDF ) .
The Adventures of the Consulting Philosopher : The Disappearance of Drake $ 1.29 ( Kindle ) , $ 8.95 ( print ) ; read the first chapters for free ( PDF ) Money and Work Unchained $ 6.95 ( Kindle ) , $ 15 ( print ) Read the first section for free ( PDF ) .
If you found value in this content , please join me in seeking solutions by becoming a $ 1/month @ @ @ @ @ @ @

by Charles Hugh-Smith
Those who don’t see the fragmentation, the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling.
I recently came across the idea that inflation is a two-factor optimization problem: inflation is necessary for the macro-economy (or so we’re told) and so the trick for policy makers (and their statisticians who measure the economy) is to maximize inflation in the economy but only to the point that it doesn’t snuff out businesses and starve workers to death.
From this perspective, households have to grin and bear the negative consequences of inflation for the good of the whole economy.
This narrative, so typical of economics, ignores the core reality of “inflation” in America: it’s a battleground for the class war that’s accelerating. Allow me to explain.
“Inflation” affects different classes very differently. I put “inflation” in italics because it’s not one phenomenon, it’s numerous phenomena crammed into one deceptively simple word.
When “inflation” boosts the value of homes, stocks, bonds, diamonds, quatloos etc. to the moon, those who own these assets are cheering. When “inflation” reduces the purchasing power of wages, those whose only income is earned from their labor suffer a decline in their lifestyles as their wages buy fewer goods and services.
They are suffering while the wealthy owners of soaring assets are cheering.
The Federal Reserve and federal authorities are not neutral observers in this war. The Fed only cares about two things: enriching the banking sector and further enriching the already-rich.
The banking sector makes money by lending newly created currency to borrowers. No borrowers or new loans–banks go broke. So the Fed must generate the right kind of “inflation”: it must lower the cost of borrowing money (deflating the cost of borrowing) by reducing the rate of interest borrowers pay, and it must “inflate” the market value of the collateral banks and Wall Street need to support more debt: commercial buildings, homes, stocks, bonds, etc.
This “inflation” of asset valuations makes those who already own these assets richer, while impoverishing those who must buy them with wages that are losing purchasing power. The Fed doesn’t care if small businesses go broke or households slide into poverty; the Fed’s only concerns are maintaining “inflation” in asset valuations and “deflation” in the cost of borrowing, so that debt-serfs, zombie corporations, local and federal government–everyone–can borrow more money, further enriching banks and Wall Street.
This is the sole goal of the Fed. Everything else is distracting PR.
There are downsides to this, of course, but they fall on “the little people” so economists, the Fed and federal officials don’t bother to even track the downsides. Thus we have the nonsensical games government statisticians play to keep official measurements of “inflation” low. This serves to obscure the reality that real-world “inflation” in the cost of education, childcare, health insurance, rent, and so on–all the big-ticket household costs–is soaring, stripping away the purchasing power of wages.
Here’s an example of how wages and purchasing power can be understood. Back in the day, I could rent my own studio apartment for half a week’s pay. I was young and not well-paid, but I could still rent a crummy apartment for half a week’s pay: 2.5 day’s wages.
Try finding an apartment for half a week’s pay in a major city. Young workers are paying two week’s pay just to rent a room. This is a massive loss in the purchasing power of labor.
Meanwhile, those with the right kind of assets are experiencing fantasic increases in their unearned income. These increases in income (and wealth) far exceed the modest impacts of real-world inflation on these owners of the right kind of assets.
Let’s start with the the wrong kind of asset: a savings account. Where savers earned 5.25% on their savings as a regulatory requirement in the 1960s, now they earn less than nothing: even the bogus “official inflation” is 2%, while savers get 0.1% or less on savings. So savers lose money every day.
Those who bought bonds and stocks and real estate–the right kind of assets–have scored enormous gains in wealth and income. There’s just one little tiny problem with the right kind of assets: the vast majority are owned by the top 5% of households, with the top 1% owning 40% and the top 0.1% owning 20%–more than the bottom 80% own.
We are primarily funded by readers. Please subscribe and donate to support us!
There aren’t just wealth-income classes –those who own these assets and those who don’t– there are demographic and age classes, too. Young wage earners are mostly priced out of buying these assets with wages, unless they borrow staggering sums of money and devote most of their income to servicing their debts (student loans, auto loans, mortgage, etc.).
Retirees have been forced into gambling their retirement funds in the Fed-rigged casinos, which just so happen to crash every decade or so, wiping out the naive punters who believed “the Fed has our backs.”
“Inflation” isn’t an abstract debate –it’s class war. And it’s not just between two classes, those who depend on wages/earned income and those reaping the trillions in unearned income and wealth; there are warring classes fractured by age, demographics, political loyalties and issues of who’s hoarding what: every one of these fractured classes is competing for scarce resources, scarce income and scarce security.
Those who don’t see the fragmentation, the scarcities and the battlelines being drawn will be surprised by the acceleration of the unraveling. As noted here previously, The banquet of consequences is being laid out, and there won’t be much choice in the seating.
My new book is available! A Hacker’s Teleology: Sharing the Wealth of Our Shrinking Planet 20% and 15% discounts end September 30 (Kindle $7, print $17)
Read excerpts of the book for free (PDF).
The Story Behind the Book and the Introduction.
Recent Podcasts:
AxisOfEasy Salon #22: When the going gets weird, the weird turn to YouTube (1 hr)
My COVID-19 Pandemic Posts
My recent books:
A Hacker’s Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $8.95, print $20, audiobook coming soon) Read the first section for free (PDF).
Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $5, print $10, audiobook) Read the first section for free (PDF).
Pathfinding our Destiny: Preventing the Final Fall of Our Democratic Republic ($5 (Kindle), $10 (print), ( audiobook): Read the first section for free (PDF).
The Adventures of the Consulting Philosopher: The Disappearance of Drake $1.29 (Kindle), $8.95 (print); read the first chapters for free (PDF)
Money and Work Unchained $6.95 (Kindle), $15 (print) Read the first section for free (PDF).
If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com.


investmentwatchblog--2020-09-19--‘Make it or break it’ show continues.

‘Make it or break it’ show continues.

Bears attempted to push $ ES below the 3300 support level again… but dip buyers decided that it ai n't @ @ @ @ @ it or break it ' show continues .
pic.twitter.com/Z3vTheIWeM

$ES, 1h
Bears attempted to push $ES below the 3300 support level again… but dip buyers decided that it ain't gonna work.
'Make it or break it' show continues. pic.twitter.com/Z3vTheIWeM
— Yuriy Matso (@yuriymatso) September 18, 2020


investmentwatchblog--2020-09-19--BROKEN: Do You Really Think The FED Knows What it is Doing?

One year ago today – something massive happened in the global markets that marked the beginning of the current crisis @ @ @ @ @ ’ t the health crisis that kicked off this industrial scale panic…tune in to Mike @ @ @ @ @ to see the evidence of this event as well as conclusive proof that financial models @ @ @ @ @ but broken .
Do you really think the Fed knows what it is doing ?

One year ago today – something massive happened in the global markets that marked the beginning of the current crisis. No, it wasn’t the health crisis that kicked off this industrial scale panic…tune in to Mike Maloney’s latest analysis to see the evidence of this event as well as conclusive proof that financial models are not only wrong, but broken. Do you really think the Fed knows what it is doing?
We are primarily funded by readers. Please subscribe and donate to support us!


investmentwatchblog--2020-09-18--AAPL is officially closed in bear market territory.  A lot of over-hyped growth names are down 20-40

AAPL is officially closed in bear market territory .
A lot of over-hyped growth names are down 20-40 % in @ @ @ @ @ , thousands of meatheads averaged down these names during the last 2 weeks , they @ @ @ @ @

AAPL is officially closed in bear market territory.
A lot of over-hyped growth names are down 20-40% in 2 weeks.
Just remember, thousands of meatheads averaged down these names during the last 2 weeks, they all became investors now.
— xTrends (@xtrends) September 18, 2020


Japanification of U.S.

Will social media broaden public understanding of the direct role the Fed played in widening the inequality divide ?
t.co/5SmSnrBcN2

Japanification of U.S. pic.twitter.com/R77tZPsrSr
Will social media broaden public understanding of the direct role the Fed played in widening the inequality divide? t.co/5SmSnrBcN2
— Danielle DiMartino Booth (@DiMartinoBooth) September 17, 2020


investmentwatchblog--2020-09-18--Rickards: The Layoffs Are Just Beginning

UNEMPLOYMENT skyrocketed in March and April , during the worst stage of the pandemic and the lockdowns that followed .
The unemployment rate approached 15 % in April and total initial claims for unemployment benefits exceeded 59 million between March and August .
This was the worst episode of unemployment since The Great Depression in the early 1930s .
Things have improved since spring .
Unemployment fell to about 11 % by July and even further in the August unemployment figures released last Friday .
Does this mean the worst is over and the economy is recovering quickly ?
Not @ @ @ @ @ @ @ worse in April and May but for the Payroll Protection Plan enacted by Congress .
This Plan appropriated almost $ 1 trillion in easy-to-get loans for small-and-medium sized businesses .
The loans would be forgiven if the proceeds were used to maintain payrolls for two-and-one-half months or to pay rent .
This program acted as a kind of bridge loan from May to July to keep employees on the payroll .
It worked .
But now , those funds have run out and the lockdowns continue in many parts of the economy .
@ @ @ @ @ @ @ a V-shaped recovery have found that the reopenings have been delayed by new lockdowns and that the recovery is real but weak .
We ’ re starting to see a second wave of layoffs as the Payroll Protection Plan money runs out and the economy doesn ’ t recover as hoped .
Meanwhile , states and cities are also planning huge layoffs in the coming weeks as tax revenues dry up and the costs of riots and looting begin to add up .
Putting all of this together reveals that unemployment may actually @ @ @ @ @ @ @ from May through August .
The reality is , the economy ’ s in very bad shape .
The idea that we ’ re going to bounce back out of this with all this pent up demand is nonsense .
The data is already indicating we ’ re in a recovery , yes .
But if you fall into a 50-foot hole and climb 10 feet up , you ’ re still 40 feet in the hole .
We ’ re not going to see 2019 levels of output until 2023 at the @ @ @ @ @ @ @ to see 2019 low levels of unemployment until probably 2025 .
We ’ re not getting back there for three or four or maybe five years .
So we ’ re looking at a long , slow recovery .
And that ’ s if things don ’ t get worse from here .
But they could , especially if we get a deadly second wave of the virus .
We ’ ve climbed 10 feet out of the hole .
Unfortunately , we could find ourselves right back at the bottom before too @ @ @ @ @ @ @ ’ t talk about the economy without mentioning the Fed… In a highly publicized speech on August 27 , 2020 at the Federal Reserve Jackson Hole Conference , Fed Chair Jay Powell declared a new form of monetary policy for the Fed .
For the past 20 years , the Fed has pursued a policy of targeting 2 % inflation .
They have generally failed miserably at this ; inflation has only hit 2 % briefly since 2007 and has typically been closer to 1.5 % than the 2 % target .
Now @ @ @ @ @ @ @ of 2 % .
This means that if inflation is under 2 % for a sustained period ( as it has been ) , then inflation can run above 2 % so that the average of the over and under periods will come close to the target .
But there are numerous flaws in this approach , which the Fed does not understand .
The first problem is that if the Fed can not achieve 2 % inflation , why on earth do they believe they can achieve 2.5 % inflation to hit @ @ @ @ @ @ @ ’ s basically meaningless .
Between 2008 and 2014 , the Fed created trillions of dollars through quantitative easing ( which actually seems like small potatoes compared to what we ’ re seeing now ) .
Many analysts sounded the alarm about “ inflation ” as the inevitable consequence of all that excessive money printing by the Fed .
It seemed like a perfectly reasonable warning at the time .
But despite all the fears , nothing bad happened .
Inflation actually fell ; there was no serious inflation threat .
Interest rates @ @ @ @ @ @ @ bubble ” or rout in the bond market .
That ’ s why there ’ s so little resistance to all the monetary programs we ’ re seeing now .
It ’ s like the boy who cried wolf .
Analysts cried wolf about inflation during the last crisis , but the wolf never materialized .
Why should we listen to them now ?
As I ’ ve argued before , and can ’ t state strongly enough : Inflation is not caused by money printing alone .
It ’ s caused by @ @ @ @ @ @ @ money .
Velocity is a psychological phenomenon that has nothing to do with the Fed , ( in fact , the Fed doesn ’ t even understand how it works ) .
The Fed can “ print ” all the money in the world .
But if people don ’ t actually spend it ; but save it instead , it won ’ t create inflation because there ’ s no velocity .
And now , because of high unemployment and failing businesses , people are not spending money even when the economy @ @ @ @ @ @ @ .
Now , savings in general is positive .
A high savings rate can be good in the long-run , but it kills consumption in the short-run .
It means little money velocity .
It means that not much money is turning over .
And since consumption is 70 % of the U.S. economy , the immediate aftermath of the pandemic will be slow growth , disinflation and even deflation ( disinflation and deflation aren ’ t the same ) .
So we ’ re looking at disinflation and deflation for now , @ @ @ @ @ @ @ re seeing now .
But that doesn ’ t mean inflation is dead .
The inflation will come , just not yet… Inflation will come when people lose confidence in the dollar and suddenly dump dollars for any hard assets they can find .
Money velocity will accelerate , but it won ’ t be into consumer goods .
It ’ ll be into hard assets that hold their value over time , gold in particular .
In other words , the best leading indicator of inflation won ’ t be found in @ @ @ @ @ @ @ pump .
It ’ ll be found in the dollar price of gold .
Of course , higher gold prices mean higher consumer prices — since higher gold prices mean a weaker dollar .
More dollars will be required to buy the same amount of goods .
Clearly , the Fed does not know how to cause inflation .
Just saying they have a higher target does nothing actually to hit the target .
The second problem with the Fed ’ s new inflation policy is : What ’ s so great about @ @ @ @ @ @ @ inflation cuts the value of the dollar in half in 35 years , and in half again in another 35 years .
Your dollar would lose 75 % of its value in an average lifetime .
If inflation is only 3 % , the 75 % dollar devaluation happens in about 45-years ; an average career span .
Zero percent inflation is the only appropriate target .
And , targeting average inflation using past mistakes as a baseline is looking in the rearview mirror .
Inflation should be targeted on a going-forward basis @ @ @ @ @ @ @ it the fruits of prior blunders .
It ’ s been clear for decades that the Fed has no idea what it is doing when it comes to monetary policy .
This new announcement by Jay Powell just makes their confusion even more obvious .
The safe havens in the present slow-growth , high unemployment environment are cash , Treasury notes and gold .
Of course , gold is also the asset to own when inflation does arrive .
When gold pushes past $ 2,000 per ounce toward $ 3,000 per ounce , @ @ @ @ @ @ @ in the price of everything else is not far behind .
Don ’ t wait until that happens .
Buy your ( physical ) gold now while it ’ s still affordable .

BY JAMES RICKARDS
UNEMPLOYMENT skyrocketed in March and April, during the worst stage of the pandemic and the lockdowns that followed.
The unemployment rate approached 15% in April and total initial claims for unemployment benefits exceeded 59 million between March and August.
This was the worst episode of unemployment since The Great Depression in the early 1930s.
Things have improved since spring. Unemployment fell to about 11% by July and even further in the August unemployment figures released last Friday.
Does this mean the worst is over and the economy is recovering quickly? Not exactly.
No More Payroll Protection Plan
Unemployment would have been much worse in April and May but for the Payroll Protection Plan enacted by Congress.
This Plan appropriated almost $1 trillion in easy-to-get loans for small-and-medium sized businesses. The loans would be forgiven if the proceeds were used to maintain payrolls for two-and-one-half months or to pay rent.
This program acted as a kind of bridge loan from May to July to keep employees on the payroll. It worked. But now, those funds have run out and the lockdowns continue in many parts of the economy.
Businesses that were expecting a reopening and a V-shaped recovery have found that the reopenings have been delayed by new lockdowns and that the recovery is real but weak.
We’re starting to see a second wave of layoffs as the Payroll Protection Plan money runs out and the economy doesn’t recover as hoped.
Meanwhile, states and cities are also planning huge layoffs in the coming weeks as tax revenues dry up and the costs of riots and looting begin to add up.
Putting all of this together reveals that unemployment may actually rise, starting now, after declining from May through August.
Digging Out of a Deep Hole
The reality is, the economy’s in very bad shape. The idea that we’re going to bounce back out of this with all this pent up demand is nonsense. The data is already indicating we’re in a recovery, yes. But if you fall into a 50-foot hole and climb 10 feet up, you’re still 40 feet in the hole.
We’re not going to see 2019 levels of output until 2023 at the earliest. We’re not going to see 2019 low levels of unemployment until probably 2025. We’re not getting back there for three or four or maybe five years. So we’re looking at a long, slow recovery.
And that’s if things don’t get worse from here. But they could, especially if we get a deadly second wave of the virus.
We’ve climbed 10 feet out of the hole. Unfortunately, we could find ourselves right back at the bottom before too long.
Of course, we can’t talk about the economy without mentioning the Fed…
The Powerless Fed
In a highly publicized speech on August 27, 2020 at the Federal Reserve Jackson Hole Conference, Fed Chair Jay Powell declared a new form of monetary policy for the Fed.
For the past 20 years, the Fed has pursued a policy of targeting 2% inflation. They have generally failed miserably at this; inflation has only hit 2% briefly since 2007 and has typically been closer to 1.5% than the 2% target.
Now, the Fed will target average inflation of 2%. This means that if inflation is under 2% for a sustained period (as it has been), then inflation can run above 2% so that the average of the over and under periods will come close to the target.
But there are numerous flaws in this approach, which the Fed does not understand.
The first problem is that if the Fed cannot achieve 2% inflation, why on earth do they believe they can achieve 2.5% inflation to hit the average of 2%? It’s basically meaningless.
Between 2008 and 2014, the Fed created trillions of dollars through quantitative easing (which actually seems like small potatoes compared to what we’re seeing now).
Many analysts sounded the alarm about “inflation” as the inevitable consequence of all that excessive money printing by the Fed. It seemed like a perfectly reasonable warning at the time.
But despite all the fears, nothing bad happened.
Inflation actually fell; there was no serious inflation threat. Interest rates fell. There was no “bond bubble” or rout in the bond market.
That’s why there’s so little resistance to all the monetary programs we’re seeing now.
It’s like the boy who cried wolf. Analysts cried wolf about inflation during the last crisis, but the wolf never materialized. Why should we listen to them now?
We are primarily funded by readers. Please subscribe and donate to support us!
It’s About the Velocity, Stupid
As I’ve argued before, and can’t state strongly enough:
Inflation is not caused by money printing alone. It’s caused by the velocity, or turnover, of money.
Velocity is a psychological phenomenon that has nothing to do with the Fed, (in fact, the Fed doesn’t even understand how it works).
The Fed can “print” all the money in the world. But if people don’t actually spend it; but save it instead, it won’t create inflation because there’s no velocity.
And now, because of high unemployment and failing businesses, people are not spending money even when the economy reopens. They’re saving instead.
Now, savings in general is positive. A high savings rate can be good in the long-run, but it kills consumption in the short-run.
It means little money velocity. It means that not much money is turning over.
And since consumption is 70% of the U.S. economy, the immediate aftermath of the pandemic will be slow growth, disinflation and even deflation (disinflation and deflation aren’t the same).
So we’re looking at disinflation and deflation for now, despite all the money creation we’re seeing now.
But that doesn’t mean inflation is dead. The inflation will come, just not yet…
When You’ll See Inflation
Inflation will come when people lose confidence in the dollar and suddenly dump dollars for any hard assets they can find.
Money velocity will accelerate, but it won’t be into consumer goods. It’ll be into hard assets that hold their value over time, gold in particular.
In other words, the best leading indicator of inflation won’t be found in the grocery store or at the gas pump.
It’ll be found in the dollar price of gold.
Of course, higher gold prices mean higher consumer prices — since higher gold prices mean a weaker dollar. More dollars will be required to buy the same amount of goods.
Clearly, the Fed does not know how to cause inflation. Just saying they have a higher target does nothing actually to hit the target.
“What’s So Great About 2% Inflation?”
The second problem with the Fed’s new inflation policy is: What’s so great about 2% inflation?
That level of inflation cuts the value of the dollar in half in 35 years, and in half again in another 35 years. Your dollar would lose 75% of its value in an average lifetime.
If inflation is only 3%, the 75% dollar devaluation happens in about 45-years; an average career span.
Zero percent inflation is the only appropriate target. And, targeting average inflation using past mistakes as a baseline is looking in the rearview mirror.
Inflation should be targeted on a going-forward basis only and not have to drag with it the fruits of prior blunders.
It’s been clear for decades that the Fed has no idea what it is doing when it comes to monetary policy.
This new announcement by Jay Powell just makes their confusion even more obvious.
The safe havens in the present slow-growth, high unemployment environment are cash, Treasury notes and gold.
Of course, gold is also the asset to own when inflation does arrive.
When gold pushes past $2,000 per ounce toward $3,000 per ounce, that’s your signal that inflation in the price of everything else is not far behind.
Don’t wait until that happens. Buy your (physical) gold now while it’s still affordable.
Regards,
Jim Rickards
for The Daily Reckoning


investmentwatchblog--2020-09-18--Martin Armstrong: We have lost decades of economic advancement because of the coronavirus ‘hoax’

I seriously doubt that people realize the extent of the economic damage caused by this HOAX instigated but a group of Oligarchs & Academics frunk on their own power and ignorance of how the real world even functions .
When you shake hands with someone , you get a sense of their character or lack thereof by the look in their eyes .
When I met Kalus Schwab of the World Economic Forum , my impression was clearly one of academic arrogance .
The people behind this bold attempt to alter the world economy do not fraternize with the little @ @ @ @ @ @ @ Even CNN now admits the “ [ a ] bout 60 % of businesses that have closed during the coronavirus pandemic will never reopen , and restaurants have suffered the most , according to new data from Yelp.
” in the meantime , we have a similar arrogance among market pundits who think a vaccine will save the economy and everything will recover as if nothing ever took place .
What has been unleashed with masks and social distancing will leave a stain in the minds of so many who will forever look @ @ @ @ @ @ @ life transporting some disease .
I have stated many times that in all my research , there is a cycle to the rise and fall of civilizations .
The rise when it is beneficial for everyone to come together .
You no longer have to bake bread because a baker is there which frees you to do things that you are good at .
Civilizations collapse when they ( 1 ) turn against their people , and ( 2 ) allow one class to oppress another .
This is why Marxism is so @ @ @ @ @ @ @ a socialist state means the state must suppress those that produce .
Civilization no longer provides equal protection and thus it has lost its benefit for all ( see How Empires Die ) .
The economic damage has undermined Western society and our economy .
There will be no miracle recovery .
We have lost decades of economic advancement .
Small businesses have been devastated and these lockdowns have harmed the lower economic classes who mostly provided physical labor from cutting hair to driving trucks .
These were the people who could not @ @ @ @ @ @ @ from home .
There has been a profound blow to the lower economic classes and the losses of savings for those who operated their small businesses are profound .
Banks decline over 70 % of loans for small businesses .
That may now exceed 90 % .

by Martin Armstrong
I seriously doubt that people realize the extent of the economic damage caused by this HOAX instigated but a group of Oligarchs & Academics frunk on their own power and ignorance of how the real world even functions. When you shake hands with someone, you get a sense of their character or lack thereof by the look in their eyes. When I met Kalus Schwab of the World Economic Forum, my impression was clearly one of academic arrogance. The people behind this bold attempt to alter the world economy do not fraternize with the little people they consider the great unwashed.
Even CNN now admits the “[a]bout 60% of businesses that have closed during the coronavirus pandemic will never reopen, and restaurants have suffered the most, according to new data from Yelp.” in the meantime, we have a similar arrogance among market pundits who think a vaccine will save the economy and everything will recover as if nothing ever took place. What has been unleashed with masks and social distancing will leave a stain in the minds of so many who will forever look at others as a threat to their life transporting some disease.
We are primarily funded by readers. Please subscribe and donate to support us!
I have stated many times that in all my research, there is a cycle to the rise and fall of civilizations. The rise when it is beneficial for everyone to come together. You no longer have to bake bread because a baker is there which frees you to do things that you are good at. Civilizations collapse when they (1) turn against their people, and (2) allow one class to oppress another. This is why Marxism is so dangerous. The more we move toward a socialist state means the state must suppress those that produce. Civilization no longer provides equal protection and thus it has lost its benefit for all (see How Empires Die).
The economic damage has undermined Western society and our economy. There will be no miracle recovery. We have lost decades of economic advancement. Small businesses have been devastated and these lockdowns have harmed the lower economic classes who mostly provided physical labor from cutting hair to driving trucks. These were the people who could not earn income from being locked down working from home. There has been a profound blow to the lower economic classes and the losses of savings for those who operated their small businesses are profound. Banks decline over 70% of loans for small businesses. That may now exceed 90%.


investmentwatchblog--2020-09-18--Got Gold? Bottom-Barrel Rates to Last for Years to Come

At least through 2023 : That ’ s how long the Federal Reserve expects near-zero interest rates to last as it seeks to support an economy that ’ s seen more than 60 million jobless claims since mid-March .
Gold has thrived in this low-rate environment , hitting an all-time high of $ 2,070 an ounce in early August , and I believe this price may be retested and surpassed given the extension of the Fed ’ s easy money policy .
I ’ ve shared with you a number of times that my three-year price target for gold remains @ @ @ @ @ @ @ Bloomberg commodity strategist Mike McGlone went even further , calling for $ 7,000 gold by 2025 as balance sheets at the world ’ s four biggest central banks continue to expand as a percentage of GDP .
According to Mike , the same friendly monetary conditions that propelled the price of gold up 7.5 times between 2001 and 2011 are visible today .
The difference now is that quantitative easing ( QE ) as a policy is “ accepted on a global scale , ” suggesting there ’ s “ little to stop @ @ @ @ @ @ @ asset-buying programs .
“ At the start of 2008 , gold was up about 200 percent on a 120-month basis versus only around 40 percent at the onset of 2020 , ” Mike writes .
“ From 2001-2011 , gold advanced about 7.5 times , which if repeated would bring it to around $ 7,000 in 2025.
” Gold at $ 7,000 may seem unrealistic , but did you ever imagine we ’ d see $ 26 trillion in U.S. national debt ?
Or $ 15 trillion in global government bonds that trade @ @ @ @ @ @ @ not normal times , to say the least , and with currency debasement a real threat , I believe it ’ s crucial that investors have exposure to real assets such as gold and precious metals .
Plus , Treasury investors aren ’ t seeing any yield currently .
Some investors don ’ t like gold because it doesn ’ t generate any income , but the 10-year T-note is actually costing them as much as 100 basis points right now , when adjusted for inflation .
This vastly lowers the opportunity cost @ @ @ @ @ @ @ physical gold , gold mining stocks have been on a tear this year , with the NYSE Arca Gold Miners Index ( GDM ) up more than 43 percent year-to-date .
But unlike gold , explorers and producers have not yet returned to their previous all-time highs set in September 2011 .
As of today , the group is still off by about 36 percent , so the upside potential remains attractive .
In fact , gold mining stock valuations are improving compared to the broader market right now .
The chart below @ @ @ @ @ @ @ & P 500 and the GDM .
It tells you how many “ shares ” of the GDM it takes to buy a single “ share ” of the S & P .
( You can ’ t invest in an index , though , remember . )
Between 2001 and 2011 , when the price of gold rose 7.5 times , the ratio went from 7.4 shares of gold stocks to 0.7 .
But once the bottom fell out from underneath the gold price , mining equities collapsed , and the ratio @ @ @ @ @ @ @ you can see , the ratio is now headed back in the right direction .
And with the exception of the COVID-19 pullback , this has all been happening during a period that ’ s seen the stock market soar to new record highs .
Today , the ratio is close to breaking through the 25-year average of 2.5 , which I would see as highly bullish for precious metal miners .
Do you know the 5 M ’ s of Mining ?
Curious to know how they can be used to pick @ @ @ @ @ @ @ below , and make sure to like it and subscribe to our YouTube channel !

by Frank Holmes, CEO, U.S. Global Investors
At least through 2023: That’s how long the Federal Reserve expects near-zero interest rates to last as it seeks to support an economy that’s seen more than 60 million jobless claims since mid-March. Gold has thrived in this low-rate environment, hitting an all-time high of $2,070 an ounce in early August, and I believe this price may be retested and surpassed given the extension of the Fed’s easy money policy.
I’ve shared with you a number of times that my three-year price target for gold remains at $4,000. This week, Bloomberg commodity strategist Mike McGlone went even further, calling for $7,000 gold by 2025 as balance sheets at the world’s four biggest central banks continue to expand as a percentage of GDP.
click to enlarge
According to Mike, the same friendly monetary conditions that propelled the price of gold up 7.5 times between 2001 and 2011 are visible today. The difference now is that quantitative easing (QE) as a policy is “accepted on a global scale,” suggesting there’s “little to stop” G4 central banks from slowing their asset-buying programs.
“At the start of 2008, gold was up about 200 percent on a 120-month basis versus only around 40 percent at the onset of 2020,” Mike writes. “From 2001-2011, gold advanced about 7.5 times, which if repeated would bring it to around $7,000 in 2025.”
Opportunity Cost of Gold Insanely Low
Gold at $7,000 may seem unrealistic, but did you ever imagine we’d see $26 trillion in U.S. national debt? Or $15 trillion in global government bonds that trade with a negative yield?
These are not normal times, to say the least, and with currency debasement a real threat, I believe it’s crucial that investors have exposure to real assets such as gold and precious metals.
We are primarily funded by readers. Please subscribe and donate to support us!
Plus, Treasury investors aren’t seeing any yield currently. Some investors don’t like gold because it doesn’t generate any income, but the 10-year T-note is actually costing them as much as 100 basis points right now, when adjusted for inflation. This vastly lowers the opportunity cost of holding gold and silver.
click to enlarge
Gold Mining Stock Valuations Improving
Like physical gold, gold mining stocks have been on a tear this year, with the NYSE Arca Gold Miners Index (GDM) up more than 43 percent year-to-date. But unlike gold, explorers and producers have not yet returned to their previous all-time highs set in September 2011. As of today, the group is still off by about 36 percent, so the upside potential remains attractive.
In fact, gold mining stock valuations are improving compared to the broader market right now. The chart below shows you the ratio between the S&P 500 and the GDM. It tells you how many “shares” of the GDM it takes to buy a single “share” of the S&P. (You can’t invest in an index, though, remember.) Between 2001 and 2011, when the price of gold rose 7.5 times, the ratio went from 7.4 shares of gold stocks to 0.7. But once the bottom fell out from underneath the gold price, mining equities collapsed, and the ratio went back up above 5.0.
click to enlarge
As you can see, the ratio is now headed back in the right direction. And with the exception of the COVID-19 pullback, this has all been happening during a period that’s seen the stock market soar to new record highs. Today, the ratio is close to breaking through the 25-year average of 2.5, which I would see as highly bullish for precious metal miners.
Do you know the 5 M’s of Mining? Curious to know how they can be used to pick gold mining stocks? Watch the video below, and make sure to like it and subscribe to our YouTube channel!


investmentwatchblog--2020-09-18--A Matter Of Time Before Stocks Collapse And Gold Soars

“ Look at the underlying fundamentals that are driving it [ gold and silver prices ] .
The financial condition of the country that hosts the reserve currency deteriorates more everyday and the Central Bankers are trying to kick the can down the road on an inevitable financial system and monetary system reset by printing more money.
” The economy continues to show signs that the “ sugar high ” from the Fed ’ s and Government ’ s multi-trillion dollar money printing and stimulus spending is wearing off .
The latest economic reports – notwithstanding the moronic homebuilders “ @ @ @ @ @ @ @ downturn in economic activity plus the numbers reported in July are being revised lower ( see today ’ s retail sales report , for instance ) .
As long as the Fed continues to devalue the dollar by printing money and as long as Treasury debt continues to increase at an increasing rate , the fundamentals are in place for a monster move in gold , silver and mining stocks .
Michelle Holiday of Portfolio Wealth Global invited me on to her podcast to discuss the factors that I believe will lead to @ @ @ @ @ @ @ in the precious metals sector : You can learn more about Investment Research Dynamics newsletters by following these links ( note : a minimum subscription period beyond the 1st month is not required ) : Short Seller ’ s Journal subscription information – Mining Stock Journal subscription information Note : I do not receive any promotion or sponsor payments in any form from the mining stock companies I present in my newsletter .
Furthermore , I invest in many of the ideas personally or in my fund .
New Mining Stock Journal Subscriber @ @ @ @ @ @ @ value for $ 20 a month .
Thank you so much !
” – Jorgen

by Dave Kranzler of Investment Research Dynamics
“Look at the underlying fundamentals that are driving it [gold and silver prices]. The financial condition of the country that hosts the reserve currency deteriorates more everyday and the Central Bankers are trying to kick the can down the road on an inevitable financial system and monetary system reset by printing more money.”
The economy continues to show signs that the “sugar high” from the Fed’s and Government’s multi-trillion dollar money printing and stimulus spending is wearing off. The latest economic reports – notwithstanding the moronic homebuilders “sentiment” metric – reflect a renewed downturn in economic activity plus the numbers reported in July are being revised lower (see today’s retail sales report, for instance).
As long as the Fed continues to devalue the dollar by printing money and as long as Treasury debt continues to increase at an increasing rate, the fundamentals are in place for a monster move in gold, silver and mining stocks.
We are primarily funded by readers. Please subscribe and donate to support us!
Michelle Holiday of Portfolio Wealth Global invited me on to her podcast to discuss the factors that I believe will lead to a stock market avalanche and soaring values in the precious metals sector:
You can learn more about Investment Research Dynamics newsletters by following these links (note: a minimum subscription period beyond the 1st month is not required): Short Seller’s Journal subscription information – Mining Stock Journal subscription information
Note: I do not receive any promotion or sponsor payments in any form from the mining stock companies I present in my newsletter. Furthermore, I invest in many of the ideas personally or in my fund.
New Mining Stock Journal Subscriber: “This is a lot of value for $20 a month. Thank you so much!” – Jorgen


investmentwatchblog--2020-09-18--Johnny Carson nailed Joe Biden – In 1987

If his memory had failed him in 1987 it sure as hell is failing him now .
Here ’ s @ @ @ @ @ lying sack :

Joe Biden's been around so long, Johnny Carson was hammering him for plagiarism way back in 1987. pic.twitter.com/Q105lQpJzT — Scott Whitlock (@ScottJW) September 17, 2020
Full speech comparison:
Lying about his education:
If his memory had failed him in 1987 it sure as hell is failing him now.
We are primarily funded by readers. Please subscribe and donate to support us!
Here’s the full clip of that lying sack:
h/t dannyoh


investmentwatchblog--2020-09-18--Australia, Victorian premier wants power to arrest people who question the script

Daniel Andrews ' plan to give police the power to arrest people who have n't even committed an offence were @ @ @ @ @ The new laws would even give public servants the power of arbitrary detention against citizens @ @ @ @ @ | @ SimoLove # springst pic.twitter.com/2dc8w2efx1

Daniel Andrews' plan to give police the power to arrest people who haven't even committed an offence were put to parliament today. The new laws would even give public servants the power of arbitrary detention against citizens they think might breach lockdown | @SimoLove #springst pic.twitter.com/2dc8w2efx1
— 10 News First Melbourne (@10NewsFirstMelb) September 17, 2020


investmentwatchblog--2020-09-18--Open letter to all Democrats from a Democrat

This is an open letter to all Democrats from a Democrat .
I did not write this , but it needs to be shared… I just have a few questions for you….Let me start with , I already know you don ’ t like President Trump…that ’ s a given , SO let ’ s move on from that… How about the division of America… .
Do you really blame Trump for that ?
How about when NONE of the DEMOCRATS showed up for his inauguration ?
Don ’ t you think that started the division ?
He hadn ’ @ @ @ @ @ @ @ EXCEPT for Clinton and Obama , not one democrat showed up….Is that when Trump divided America ?
Can you imagine if the REPUBLICANS didn ’ t show up for Obama ’ s inauguration because they lost ?
?
?
Can you even start to imagine what would have happened ?
How about when 19 minutes after Trump was inaugurated , the Washington Post declared the IMPEACHMENT CAMPAIGN has STARTED ?
Was that when Trump divided America ?
How about when Nancy Pelosi ripped up Trump ’ s state of the union right in @ @ @ @ @ @ @ disrespect for the President of the United States ?
Did that bring the country together and is THAT when Trump divided America ?
How about when America had to endure , 3 years and over 30 million dollars spent on trying to PROVE that Trump only won because of RUSSIAN COLLUSION and NOT because America voted him in and 17 democrats did EVERYTHING in their power to PROVE that there was Russian Collusion…and came up with ZERO… ?
Was THAT when Trump divided America ?
I can ’ t even start to go @ @ @ @ @ @ @ received since his surprise win… Remember , the DONORS , the likes Bloomberg , who gave 27 million , Tom Steyer who gave 17 million , George Soros who gave 9 million and MANY MORE that gave MULTI-MILLIONS to Hillary , wanted a return on their investment… Do you really think that donors give MILLIONS UPON MILLIONS just because they love Hillary ?
NO , these weren ’ t campaign donations , they were INVESTMENTS into what HILLARY had promised them when she became president… .
They were so sure she would win @ @ @ @ @ @ @ RETURNS , and when it didn ’ t happen and they LOST all those millions , they went all out to TAKE TRUMP out of OFFICE by any means possible… DID YOU KNOW that 90 % of the Mainstream media and the corporations that own them , are owned by or run by BIG DEMOCRAT DONORS ?
You can verify all of that for yourselves…I did… Since the moment Trump won , even before he was inaugurated , the mainstream media ’ s reporting was 92 % negative on Trump , do you @ @ @ @ @ @ @ donors that lost their dream of MILLIONS of dollars , on their returns that they were going to receive when Hillary was president and they weren ’ t going to take that loss lightly…They needed to PUNISH TRUMP and those that VOTED HIM IN… I ’ ve said this since the night he was elected… “ There is NOTHING the left won ’ t do to take down our President ” , our country and us , no low they won ’ t go to , to get their power back ” , @ @ @ @ @ @ @ every single day since his election .
President Trump and his entire family has been vilified , demeaned and disrespected , for one reason and one reason only…….HE WON… Have you noticed the DEMOCRATS only throw tantrums and OBJECT to everything he does and have NEVER ONCE gotten behind him to make America the best it can be ?
WHY ?
They can ’ t afford to get behind him…he would WIN AGAIN , and they can ’ t let that happen….if he wins again , the Democrat party will be destroyed and @ @ @ @ @ @ @ the “ CAGES ” the left claimed that Trump built to put Illegal children in , WERE BUILT BY OBAMA for the very purpose of PUTTING ILLEGAL CHILDREN IN ?
Was THAT all over the news when Obama did it ?
The very same “ CAGES ” …but the media was silent !
!
How about when Trump commuted Roger Stone ’ s sentence , and was DEMONIZED 24/7 but NOT A WORD when Obama commuted 1715 inmates , which included 330 that he granted on his last day in office… DID WE @ @ @ @ @ @ @ Were there reporters even reporting it…NO !
Just look at the difference in the reporting .
By the way , since Trump ’ s been in office he ’ s commuted 10 people…compare that to Obama…Is that reporting fair ?
How about when Biden and Obama allowed the H1N1 , the SWINE FLU , to INFECT MILLIONS of Americans before declaring it a health emergency… .
Was the press losing it ’ s minds and calling it the OBAMAFLU AND BLAMING OBAMA and BIDEN for the spread ?
SILENCE !
Compare this to @ @ @ @ @ @ @ , he immediately halted travel from China when , in February , Nancy Pelosi went to Chinatown and said come on down , or when DeBlasio , in March , said ride the subways and go to broadway…BUT those same people are blaming Trump for the spread of coronavirus… What have the DEMOCRATS done to help make America the best , to get behind a president that works tirelessly to care about WE THE PEOPLE instead of using us as political pawns.. What have the democrats done for people of color EXCEPT for @ @ @ @ @ @ @ having us pay for it… JUST imagine what this country could accomplish if the Democrats worked with him on the economy , the coronavirus , the inner cities where he ’ s created opportunity zones , job training etc .
When Trump tried to get school choice for inner-city students they ran Betsy Devoss out !
!
The dems running those innercity schools wanted no part of school choice .
Have you ever wondered why it ’ s cities that have been run , for decades , that have the MOST HOMELESS , @ @ @ @ @ @ @ , the worst INNER CITY schools , ARE ALL RUN BY DEMOCRATS ?
?
?
If you haven ’ t started asking yourselves those questions , maybe you should.. As I said , my entire family used to be democrats , but NOT ONE will ever vote for a democrat again….They asked themselves the same questions and the answer was clear… .
I ’ m not looking for debates on this .
I ’ m a Christian , and will not support the Democrats in Nov Disclaimer : This is a guest post @ @ @ @ @ @ @ the views of IWB .

I’m a registered Independent, and I found this interesting.
This is an open letter to all Democrats from a Democrat. I did not write this, but it needs to be shared…
I just have a few questions for you….Let me start with, I already know you don’t like President Trump…that’s a given, SO
let’s move on from that…
How about the division of America….
Do you really blame Trump for that?
How about when NONE of the DEMOCRATS showed up for his inauguration? Don’t you think that started the division? He hadn’t even been president yet, and EXCEPT for Clinton and Obama, not one democrat showed up….Is that when Trump divided America? Can you imagine if the REPUBLICANS didn’t show up for Obama’s inauguration because they lost??? Can you even start to imagine what would have happened?
How about when 19 minutes after Trump was inaugurated, the Washington Post declared the IMPEACHMENT CAMPAIGN has STARTED? Was that when Trump divided America?
How about when Nancy Pelosi ripped up Trump’s state of the union right in front of the world, showing complete disrespect for the President of the United States? Did that bring the country together and is THAT when Trump divided America?
How about when America had to endure, 3 years and over 30 million dollars spent on trying to PROVE that Trump only won because of RUSSIAN COLLUSION and NOT because America voted him in and 17 democrats did EVERYTHING in their power to PROVE that there was Russian Collusion…and came up with ZERO…?
Was THAT when Trump divided America?
….
I can’t even start to go over the NEGATIVE PRESS he’s received since his surprise win…
Remember, the DONORS, the likes Bloomberg, who gave 27 million, Tom Steyer who gave 17 million, George Soros who gave 9 million and MANY MORE that gave MULTI-MILLIONS to Hillary, wanted a return on their investment…
Do you really think that donors give MILLIONS UPON MILLIONS just because they love Hillary?
NO, these weren’t campaign donations, they were INVESTMENTS into what HILLARY had promised them when she became president….
They were so sure she would win and they would be SHOWERED with HUGE RETURNS, and when it didn’t happen and they LOST all those millions, they went all out to TAKE TRUMP out of OFFICE by any means possible…
DID YOU KNOW that 90% of the Mainstream media and the corporations that own them, are owned by or run by BIG DEMOCRAT DONORS? You can verify all of that for yourselves…I did…
Since the moment Trump won, even before he was inaugurated, the mainstream media’s reporting was 92% negative on Trump, do you know why?
It was those big donors that lost their dream of MILLIONS of dollars, on their returns that they were going to receive when Hillary was president and they weren’t going to take that loss lightly…They needed to PUNISH TRUMP and those that VOTED HIM IN…
I’ve said this since the night he was elected…
“There is NOTHING the left won’t do to take down our President”, our country and us, no low they won’t go to, to get their power back”, and sadly, we have seen this every single day since his election.
President Trump and his entire family has been vilified, demeaned and disrespected, for one reason and one reason only…….HE WON…
We are primarily funded by readers. Please subscribe and donate to support us!
Have you noticed the DEMOCRATS only throw tantrums and OBJECT to everything he does and have NEVER ONCE gotten behind him to make America the best it can be? WHY?
They can’t afford to get behind him…he would WIN AGAIN, and they can’t let that happen….if he wins again, the Democrat party will be destroyed and they know it…
Did you notice that the “CAGES” the left claimed that Trump built to put Illegal children in, WERE BUILT BY OBAMA for the very purpose of PUTTING ILLEGAL CHILDREN IN?
Was THAT all over the news when Obama did it? The very same “CAGES”…but the media was silent!!
How about when Trump commuted Roger Stone’s sentence, and was DEMONIZED 24/7 but NOT A WORD when Obama commuted 1715 inmates, which included 330 that he granted on his last day in office…
DID WE EVEN HEAR one WORD about it?
Were there reporters even reporting it…NO! Just look at the difference in the reporting. By the way, since Trump’s been in office he’s commuted 10 people…compare that to Obama…Is that reporting fair?
How about when Biden and Obama allowed the H1N1, the SWINE FLU, to INFECT MILLIONS of Americans before declaring it a health emergency….
Was the press losing it’s minds and calling it the OBAMAFLU AND BLAMING OBAMA and BIDEN for the spread ? SILENCE!
Compare this to the NEGATIVE COVERAGE that Trump got when, he immediately halted travel from China when, in February, Nancy Pelosi went to Chinatown and said come on down, or when DeBlasio, in March, said ride the subways and go to broadway…BUT those same people are blaming Trump for the spread of coronavirus…
A FINAL QUESTION:
What have the DEMOCRATS done to help make America the best, to get behind a president that works tirelessly to care about WE THE PEOPLE instead of using us as political pawns..
What have the democrats done for people of color EXCEPT for GIVING ILLEGALS more rights than citizens and having us pay for it…
JUST imagine what this country could accomplish if the Democrats worked with him on the economy, the coronavirus, the inner cities where he’s created opportunity zones, job training etc.
When Trump tried to get school choice for inner-city students they ran Betsy Devoss out!! The dems running those innercity schools wanted no part of school choice.
Have you ever wondered why it’s cities that have been run, for decades, that have the MOST HOMELESS, the MOST CRIME, the most MURDERS, the worst INNER CITY schools, ARE ALL RUN BY DEMOCRATS???
If you haven’t started asking yourselves those questions, maybe you should..
As I said, my entire family used to be democrats, but NOT ONE will ever vote for a democrat again….They asked themselves the same questions and the answer was clear….
I’m not looking for debates on this. I’m a Christian, and will not support the Democrats in Nov
h/t QuantumLove
Disclaimer: This is a guest post and it doesn’t necessarily represent the views of IWB.


investmentwatchblog--2020-09-18--Taiwan Scrambled Fighter Jets Again As Multiple Chinese Aircraft Buzzed The Island

Taiwan scrambled fighter jets as multiple Chinese aircraft buzzed the island , including crossing the sensitive mid-line of the Taiwan @ @ @ @ @ of tensions the same day a senior U.S. official began meetings in Taipei t.co/aDhEGMkLs7 Taiwan @ @ @ @ @ Defense reports that two China 's PLA H-6 bombers , eight J-16 fighters , four @ @ @ @ @ fighters entered Taiwan ’ s ADIZ today .
Taiwan scrambled fighters and deployed air defense @ @ @ @ @ activities . '
pic.twitter.com/HeHqRp3k3I

Taiwan scrambled fighter jets as multiple Chinese aircraft buzzed the island, including crossing the sensitive mid-line of the Taiwan Strait, in an escalation of tensions the same day a senior U.S. official began meetings in Taipei t.co/aDhEGMkLs7
Taiwan’s Ministry of National Defense reports that two China's PLA H-6 bombers, eight J-16 fighters, four J-10 fighters and four J-11 fighters entered Taiwan’s ADIZ today.
Taiwan scrambled fighters and deployed air defense missile system to 'monitor the activities.' pic.twitter.com/HeHqRp3k3I
— Status-6 (@Archer83Able) September 18, 2020


investmentwatchblog--2020-09-18--Gold Breakout Triggers Buy Signal, Is $3000 Next Target?

90-days ago this cup & handle pattern was discussed on See It Market when Gold was trading at 1717 .
@ @ @ @ @ is up 15 percent .
So it ’ s time for an update !
As @ @ @ @ @ , the initial price magnet for the rally was the 261.8 Fibonacci extension that marked @ @ @ @ @ 1 ) .
That high has served as price resistance for nearly 9 years !
@ @ @ @ @ into support now .
Gold has rallied sharply up the right side of the pattern @ @ @ @ @ highs .
In fact , the “ monthly ” candle is currently attempting to break @ @ @ @ @ hold , would target the next Fibonacci extension at ( 2 ) .
As we @ @ @ @ @ that target comes in at $ 3,000 !
From an intermediate perspective , its important @ @ @ @ @ as new support !
This article was first written for See It Markets.com .
To @ @ @ @ @ HERE .

by Kimble Charting
90-days ago this cup & handle pattern was discussed on See It Market when Gold was trading at 1717.
Fast-forward to today and Gold is up 15 percent. So it’s time for an update!
As we pointed out 90-days ago, the initial price magnet for the rally was the 261.8 Fibonacci extension that marked the 2011 high at (1).
That high has served as price resistance for nearly 9 years! …But it may be turning into support now.
We are primarily funded by readers. Please subscribe and donate to support us!
Gold has rallied sharply up the right side of the pattern and pushed past its 2011 highs. In fact, the “monthly” candle is currently attempting to break out, and should it hold, would target the next Fibonacci extension at (2).
As we pointed out 90-days ago, that target comes in at $3,000!
From an intermediate perspective, its important for Gold that old resistance as new support!
This article was first written for See It Markets.com. To see the original post CLICK HERE.


investmentwatchblog--2020-09-18--Central Banks Going For NEGATIVE Interest Rates as Currency Value Drops!

Every empire falls .
It does this largely because of its own failures .
It crumbles from within as more @ @ @ @ @ in haste .
More people are jumping onto the pile , pushing their savings into @ @ @ @ @ inexperienced traders are rushing to buy leveraged positions in technology stocks which have completely taken @ @ @ @ @ , if the Fed never takes away the punch bowl , will the party ever @ @ @ @ @ selling tickets for scenic ‘ flights to nowhere ’ Jim Cramer on how to invest @ @ @ @ @ Deal Reached in N.J. for ‘ Millionaires Tax ’ to Address Fiscal Crisis – The @ @ @ @ @ the world ’ s largest asset manager , may never be 100 % back in @ @ @ @ @ says Bank of England eyes sub-zero rates in face of virus , Brexit Monetary policy @ @ @ @ @ Monetary Policy Committee meeting ending on 16 September 2020 Deutsche Bank Spoofer Tells Jury His @ @ @ @ @ Bloomberg

Every empire falls. It does this largely because of its own failures. It crumbles from within as more corruption and greed consume it in haste. More people are jumping onto the pile, pushing their savings into the stock market. Many inexperienced traders are rushing to buy leveraged positions in technology stocks which have completely taken over. The question is, if the Fed never takes away the punch bowl, will the party ever stop?
Airlines are now selling tickets for scenic ‘flights to nowhere’
theweek.com/speedreads/938039/airlines-are-now-selling-tickets-scenic-flights-nowhere
Airlines Make Final Plea for Aid to Avoid Job Losses – WSJ
www.wsj.com/articles/airlines-make-final-plea-for-aid-to-avoid-job-losses-11600351485
Jim Cramer on how to invest if Congress approves coronavirus stimulus
www.cnbc.com/2020/09/17/jim-cramer-on-how-to-invest-if-congress-approves-coronavirus-stimulus.html
Nearly half of NYC’s top earners considered relocating: poll
nypost.com/2020/09/16/nearly-half-of-nycs-top-earners-considered-relocating-poll/
Deal Reached in N.J. for ‘Millionaires Tax’ to Address Fiscal Crisis – The New York Times
www.nytimes.com/2020/09/17/nyregion/nj-millionaires-tax.html
BlackRock, the world’s largest asset manager, may never be 100% back in the office, CEO Fink says
www.cnbc.com/2020/09/17/blackrock-the-worlds-largest-asset-manager-may-never-be-100percent-back-in-the-office-ceo-fink-says.html#:~:text=Menu-,BlackRock%2C%20the%20world's%20largest%20asset%20manager%2C%20may%20never%20be%20100,the%20office%2C%20CEO%20Fink%20says&text=As%20work%20from%20home%20stretches,employees%20returning%20to%20the%20office.
U.S. weekly jobless claims total 860,000, vs 875,000 expected
www.cnbc.com/2020/09/17/weekly-jobless-claims.html#:~:text=Jobless%20claims%20were%20lower%20than%20expected%20but%20employment%20growth%20is%20still%20sluggish,-Published%20Thu%2C%20Sep&text=First%2Dtime%20claims%20for%20unemployment,than%20900%2C000%20to%2012.63%20million.
106706470-1600346615926-20200917_continuing_claims_seasonally_adjusted.png (740×425)
image.cnbcfm.com/api/v1/image/106706470-1600346615926-20200917_continuing_claims_seasonally_adjusted.png?v=1600346634&w=740&h=425
106706462-1600346459140-20200917_initial_claims_seasonally_adjusted.png (740×425)
image.cnbcfm.com/api/v1/image/106706462-1600346459140-20200917_initial_claims_seasonally_adjusted.png?v=1600346467&w=740&h=425
We are primarily funded by readers. Please subscribe and donate to support us!
Bank of England eyes sub-zero rates in face of virus, Brexit
ca.finance.yahoo.com/news/bank-england-says-economic-outlook-111515858.html
Monetary policy summary and minutes of the Monetary Policy Committee meeting ending on 16 September 2020
www.bankofengland.co.uk/-/media/boe/files/monetary-policy-summary-and-minutes/2020/september-2020.pdf
US-Restaurants-2020-09-15.png (491×402)
wolfstreet.com/wp-content/uploads/2020/09/US-Restaurants-2020-09-15.png
US-Restaurants-2020-09-15-US-taking-reservations.png (498×313)
wolfstreet.com/wp-content/uploads/2020/09/US-Restaurants-2020-09-15-US-taking-reservations.png
US-TSA-screenings-daily-2020-09-15-yoy-percent-change-7-day-avg.png (510×450)
wolfstreet.com/wp-content/uploads/2020/09/US-TSA-screenings-daily-2020-09-15-yoy-percent-change-7-day-avg.png
US-Kastle-office-occupancy-2020-09-15-City-average.jpg (473×405)
wolfstreet.com/wp-content/uploads/2020/09/US-Kastle-office-occupancy-2020-09-15-City-average.jpg
US-Foot-Traffic-2020-09-15.png (811×791)
wolfstreet.com/wp-content/uploads/2020/09/US-Foot-Traffic-2020-09-15.png
Deutsche Bank Spoofer Tells Jury His Bosses Showed Him How – Bloomberg
www.bloomberg.com/news/articles/2020-09-17/deutsche-bank-metal-spoofer-tells-jury-his-bosses-showed-him-how?sref=ZEpEDN5v
Ex-JPMorgan Trader Convicted for Helping Rig Currency Market – Bloomberg
www.bloomberg.com/news/articles/2019-11-20/ex-jpmorgan-trader-guilty-of-conspiring-to-rig-currency-markets


investmentwatchblog--2020-09-18--This Amazing Video Of Tucker Carlson Fishing Is Going Viral For All The Best Reasons

Clayton Kierns from Trending Politics reports , A 2013 video of Tucker Carlson fishing in Central Park has resurfaced on @ @ @ @ @ beginning to go viral once again .
The creator of the video is Joey Boots @ @ @ @ @ employee for Howard Stern who passed away in 2016 .
For some reason , this @ @ @ @ @ rounds again on social media and everyone is loving it .

Clayton Kierns from Trending Politics reports, A 2013 video of Tucker Carlson fishing in Central Park has resurfaced on Twitter and it’s beginning to go viral once again. The creator of the video is Joey Boots. Boots was a former employee for Howard Stern who passed away in 2016. For some reason, this video began to make its rounds again on social media and everyone is loving it.
We are primarily funded by readers. Please subscribe and donate to support us!
Read More/Source/Credit/FairUse:
trendingpolitics.com/this-ama…


investmentwatchblog--2020-09-18--Trump Supporter Arrested For Simply DEFENDING His Home From BLM Mob

Cassandra Fairbanks from The Gateway Pundit reports , A Milwaukee man has reportedly been arrested after pulling a gun on @ @ @ @ @ Matter supporters who were surrounding his home for several hours .

Cassandra Fairbanks from The Gateway Pundit reports, A Milwaukee man has reportedly been arrested after pulling a gun on a mob of Black Lives Matter supporters who were surrounding his home for several hours.
We are primarily funded by readers. Please subscribe and donate to support us!
Read More/Source/Credit/FairUse:
www.thegatewaypundit.com/2020…