investmentwatchblog--2020-07-09--Huge government debt – not a problem for the government maybe…

I loved the way this article framed the issue so as to exclude some of the more egregious issues with MMT .
I ’ ll just mention a few of them : 1 ) Deficit spending has so far led to little or no inflation ?
Seriously ?
Do you have kids in college ?
Have you been to the emergency room lately ?
How about the grocery store ?
Checked out the price of a Ford F-150 this model year ?
How much of the S & P 500 does your 401K contribution buy you these days ?
Are @ @ @ @ @ @ @ The contortions the BLS goes through to keep the year-over-year increase in the consumer price index in single digits are mind-boggling : imputations , substitutions , heuristics — every one of which just coincidentally happens to reduce the official rate of increase .
By any measure that makes sense to the average American , the actual rate of inflation is at least twice what the increase in CPI indicates .
The “ Big Mac Index ” shows pretty clearly how the game is being played : 2 ) The MMT solution to increased @ @ @ @ @ @ @ So what they ’ re saying is when taxpayers find themselves getting hosed by higher prices , the solution is to hose them twice over by raising their taxes .
And we ’ re supposed to be OK with that ?
3 ) So MMT says it ’ s OK to firehose money into the system at the whim of politicians .
Who gets that money ?
According the the article , it would appear to be government workers , financiers , and beltway bandits .
Oh , and the politicians themselves , @ @ @ @ @ @ @ for their largess during the next “ election cycle ” .
Nice .
A hermetically sealed system .
Ummm… excuse me , but what about the rest of us ?
This seems to be creating an “ us against them ” paradigm .
The money they get dilutes the value of the money we have .
Didn ’ t they just take a bite out of my rainy-day fund ?
Sounds like we ’ re getting hosed .
Again .
4 ) What does deficit spending do to the government ’ s accountability @ @ @ @ @ @ @ means that government spending is constrained by what the citizens are willing to pay for .
That sounds to me like a very prudent restraint .
Even a budget deficit that ’ s commensurate with economic growth makes a certain kind of sense , although private sector funding seems to me to be a better way to do that .
And , yes , I know that there are times when deficit spending is necessary , such as during a war or a national emergency of similar scale .
But unrestrained government spending @ @ @ @ @ @ @ ’ t that imply unrestrained government activity as a matter of course ?
Including unrestrained power reward its cronies , punish its critics , and control the lives of its citizens ?
In my view , this is an extremely serious threat to a free and open society .
Given these considerations , it seems to me that MMT is a centralist ’ s dream , a justification for a program that has the potential to pauperize and subjugate the average American .

by Helix
I loved the way this article framed the issue so as to exclude some of the more egregious issues with MMT. I’ll just mention a few of them:
1) Deficit spending has so far led to little or no inflation? Seriously? Do you have kids in college? Have you been to the emergency room lately? How about the grocery store? Checked out the price of a Ford F-150 this model year? How much of the S&P 500 does your 401K contribution buy you these days? Are you living on a fixed income? The contortions the BLS goes through to keep the year-over-year increase in the consumer price index in single digits are mind-boggling: imputations, substitutions, heuristics — every one of which just coincidentally happens to reduce the official rate of increase. By any measure that makes sense to the average American, the actual rate of inflation is at least twice what the increase in CPI indicates. The “Big Mac Index” shows pretty clearly how the game is being played:
2) The MMT solution to increased inflation is higher taxes? Really? So what they’re saying is when taxpayers find themselves getting hosed by higher prices, the solution is to hose them twice over by raising their taxes. And we’re supposed to be OK with that?
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3) So MMT says it’s OK to firehose money into the system at the whim of politicians. Who gets that money? According the the article, it would appear to be government workers, financiers, and beltway bandits. Oh, and the politicians themselves, who we can assume will be well-rewarded for their largess during the next “election cycle”. Nice. A hermetically sealed system. Ummm… excuse me, but what about the rest of us? This seems to be creating an “us against them” paradigm. The money they get dilutes the value of the money we have. Didn’t they just take a bite out of my rainy-day fund? Sounds like we’re getting hosed. Again.
4) What does deficit spending do to the government’s accountability to the people? A balanced budget means that government spending is constrained by what the citizens are willing to pay for. That sounds to me like a very prudent restraint. Even a budget deficit that’s commensurate with economic growth makes a certain kind of sense, although private sector funding seems to me to be a better way to do that. And, yes, I know that there are times when deficit spending is necessary, such as during a war or a national emergency of similar scale. But unrestrained government spending as a matter of course? Doesn’t that imply unrestrained government activity as a matter of course? Including unrestrained power reward its cronies, punish its critics, and control the lives of its citizens? In my view, this is an extremely serious threat to a free and open society.
Given these considerations, it seems to me that MMT is a centralist’s dream, a justification for a program that has the potential to pauperize and subjugate the average American.


investmentwatchblog--2020-07-09--There’s no doubt HCQ inhibits the virus through multiple pathways

Here is how Dr. Shiva A. , MIT Biological Engineering PhD and developer of CytoSolve depicted it in early May @ @ @ @ @ earliest in-vitro studies of infected cells that HCQ ( along with Remdesivir ) inhibited viral @ @ @ @ @ I thought was the later data that came out showing that there was also dose-dependent @ @ @ @ @ ACE2 , which of course is a completely separate and complimentary mode of action .
@ @ @ @ @ a single molecule , “ cocktail ” .

by Jim
Here is how Dr. Shiva A., MIT Biological Engineering PhD and developer of CytoSolve depicted it in early May;
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We knew from the earliest in-vitro studies of infected cells that HCQ (along with Remdesivir) inhibited viral replication.. what was really cool I thought was the later data that came out showing that there was also dose-dependent inhibition of cellular entry via ACE2, which of course is a completely separate and complimentary mode of action. HCQ is in a sense a single molecule, “cocktail”.


investmentwatchblog--2020-07-09--Barack Obama is a WITNESS in #Obamagate Targeting of Mike Flynn & Donald Trump! What Did He Know?

Judicial Watch President Tom Fitton appeared on @ Joe Pags to discuss the latest news on voter fraud/ballot harvesting , @ @ @ @ @ Email Scandal , & more !

Judicial Watch President Tom Fitton appeared on @Joe Pags to discuss the latest news on voter fraud/ballot harvesting, #ObamaGate, the Clinton Email Scandal, & more!
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investmentwatchblog--2020-07-09--Black Lives Matter Protesters Storm Church, Harass Children, Assault Parishioners in Troy, New York

Tucker Carlson said tonight these people who have now graduated from the Universities are now working for the Biden Campaign @ @ @ @ @ Media where they can continue to rage on with a need for safe spaces and @ @ @ @ @ they are !

AND THE SPIRITUAL BATTLE RAGES ON…
Tucker Carlson said tonight these people who have now graduated from the Universities are now working for the Biden Campaign, Vox and in the Media where they can continue to rage on with a need for safe spaces and to silence dissenting speech..
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Here they are!
h/t christian


investmentwatchblog--2020-07-09--Evacuations In China As Hubei Dam Begins to Slide; Cities Issue Red Alert on Floods

In Hubei province of China , close to 29,000 citizens were evacuated as a nearby reservoir dam is showing signs @ @ @ @ @ to slide .
The incident is taking place amid continuing heavy rains in China .
@ @ @ @ @ the Yangtze River , which has been overflowing as well , the water level at @ @ @ @ @ City of Hubei rose to dangerous levels , and the dam began to slide and @ @ @ @ @ , putting an area of over 620 square miles at risk .
The reservoir was @ @ @ @ @ several villages , and can hold around 78 million cubic feet of water .
And @ @ @ @ @ , reservoirs impacted by floods are making the floodwaters worse .
By July 5 , @ @ @ @ @ Hubei had exceeded their limits , and more than 11 counties and cities including Wuhan @ @ @ @ @ CCP Virus , the new coronavirus , issued red-code flood warnings .
One other city @ @ @ @ @ its residents in the middle of the night .

In Hubei province of China, close to 29,000 citizens were evacuated as a nearby reservoir dam is showing signs of deformation, and began to slide.
The incident is taking place amid continuing heavy rains in China. Near the middle reaches of the Yangtze River, which has been overflowing as well, the water level at the BaiYange Reservoir in HuangGang City of Hubei rose to dangerous levels, and the dam began to slide and to show signs of deformation, putting an area of over 620 square miles at risk. The reservoir was built in 1958, spans several villages, and can hold around 78 million cubic feet of water.
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And in other parts of China, reservoirs impacted by floods are making the floodwaters worse. By July 5, around 1,094 reservoirs just in Hubei had exceeded their limits, and more than 11 counties and cities including Wuhan, the epicenter of the CCP Virus, the new coronavirus, issued red-code flood warnings. One other city, Xiantao, also evacuated its residents in the middle of the night.
h/t Proud Trump Supporter


investmentwatchblog--2020-07-09--Oh, look! Another conspiracy theory turned conspiracy fact.

So early in the election and mail vote fraud is already turning up ?
Well yes , yes it is @ @ @ @ @ Indiana delivered mail-in ballot applications with 400 of these mail-in ballots being prechecked Democrat before @ @ @ @ @ identified as 68-year-old Janet Reed .
She was booked on Monday , June 8 , @ @ @ @ @ on a $ 250 Bond .
With multiple individuals now being charged for election fraud @ @ @ @ @ officials or prechecked mail-in ballots marked Democrat , you have to wonder if the Democrat @ @ @ @ @ a trap with this mail-in ballot harvesting agenda .

So early in the election and mail vote fraud is already turning up? Well yes, yes it is : masscentral.com/vanderburgh-democratic-activist-reed-faces-felony-election-fraud-charge/
This individual in Indiana delivered mail-in ballot applications with 400 of these mail-in ballots being prechecked Democrat before delivery.
The volunteer-in-question was identified as 68-year-old Janet Reed. She was booked on Monday, June 8, into the Vanderburgh County Jail on a $250 Bond.
With multiple individuals now being charged for election fraud involving mail-in ballots for Democrat officials or prechecked mail-in ballots marked Democrat, you have to wonder if the Democrat establishment set themselves up for a trap with this mail-in ballot harvesting agenda.


investmentwatchblog--2020-07-09--World Economy Preparing for Collapse

World Economy Preparing for Collapse

The world has changed dramatically in the course of this orchestrated and intended collapse of the global economy in order to launch this Great Reset .
In the course of several months , we have watched a deliberate economic disaster under the pretense of this coronavirus pandemic .
While the main objective of one group has been the create a New Green World Order , they relied upon Socialists who realize that their economic dreams are also collapsing .
As a result , this combined force is out to change the world and the real agenda is the New Green @ @ @ @ @ @ @ there has been this huge tragically large number of human lives being lost when more people die from car crashes .
They have deliberately terrorized people to achieve their agenda .
They have embarrassed politicians and countries into implementing quarantines , social distancing , and have locked down the world population where NOTHING of such a magnitude has EVER taken place in 6,000 years of recorded history .
These drastic practices to contain this exaggerated pandemic have unleashed a Sovereign Debt Crisis our computer has been forecasting but never in my personal imagination @ @ @ @ @ @ @ would be deliberate .
The cost of this Great Lockdown is virtually beyond comprehension .
We are witnessing people hoarding cash around the world .
The magnitude and speed of collapse in economic activity that has followed is unlike anything experienced in our lifetimes .
Yet the real trend starting to unfold is the collapse in public confidence .
We are now even beginning to see runs on banks to hoard cash in China as well .
Our sources in China are reporting that the People ’ s Bank of China initiated a @ @ @ @ @ @ @ requires retail and business clients to pre-report any large withdrawals or deposits .
They will expand this program in October to other provinces .
On a global scale , lenders around the world , including China , are facing a surge in bad debt as a direct result of this Great Lockdown .
The world economy is facing a tsunami of bad debt that is bringing about an economic recession/depression into 2022 .
Even in China , the economic outlook is one of the slowest economic growth in four decades .
In China @ @ @ @ @ @ @ step in last month to prevent bank runs at two local lenders in Hebei and Shanxi .
Last year , China bailed out and even took over several struggling banks .
In China , much of the loans were on real estate which has been forced to contract as social-distancing impacted the freedom of movement .
Our warning of the pending Monetary Crisis Cycle and the simultaneous Sovereign Debt Crisis Cycle has created a world economic outlook that is just beyond ANYTHING we have witnessed in over 300 years .
This is How @ @ @ @ @ @ @ .

by Martin Armstrong
The world has changed dramatically in the course of this orchestrated and intended collapse of the global economy in order to launch this Great Reset. In the course of several months, we have watched a deliberate economic disaster under the pretense of this coronavirus pandemic. While the main objective of one group has been the create a New Green World Order, they relied upon Socialists who realize that their economic dreams are also collapsing. As a result, this combined force is out to change the world and the real agenda is the New Green Socialist Agenda. They have pretended that there has been this huge tragically large number of human lives being lost when more people die from car crashes. They have deliberately terrorized people to achieve their agenda.
They have embarrassed politicians and countries into implementing quarantines, social distancing, and have locked down the world population where NOTHING of such a magnitude has EVER taken place in 6,000 years of recorded history. These drastic practices to contain this exaggerated pandemic have unleashed a Sovereign Debt Crisis our computer has been forecasting but never in my personal imagination w3ould I have ever anticipated that this would be deliberate.
We are primarily funded by readers. Please subscribe and donate to support us!
The cost of this Great Lockdown is virtually beyond comprehension. We are witnessing people hoarding cash around the world. The magnitude and speed of collapse in economic activity that has followed is unlike anything experienced in our lifetimes. Yet the real trend starting to unfold is the collapse in public confidence. We are now even beginning to see runs on banks to hoard cash in China as well. Our sources in China are reporting that the People’s Bank of China initiated a strategic plan in the Hebei province which requires retail and business clients to pre-report any large withdrawals or deposits. They will expand this program in October to other provinces.
On a global scale, lenders around the world, including China, are facing a surge in bad debt as a direct result of this Great Lockdown. The world economy is facing a tsunami of bad debt that is bringing about an economic recession/depression into 2022. Even in China, the economic outlook is one of the slowest economic growth in four decades. In China, the government regulators were forced to step in last month to prevent bank runs at two local lenders in Hebei and Shanxi. Last year, China bailed out and even took over several struggling banks. In China, much of the loans were on real estate which has been forced to contract as social-distancing impacted the freedom of movement.
Our warning of the pending Monetary Crisis Cycle and the simultaneous Sovereign Debt Crisis Cycle has created a world economic outlook that is just beyond ANYTHING we have witnessed in over 300 years. This is How Empires, Nations, and City-States die.


investmentwatchblog--2020-07-09--After mis-blaming Norwegian salmon, China admits it doesn’t know where Beijing’s new coronavirus out

After mis-blaming Norwegian salmon, China admits it doesn’t know where Beijing’s new coronavirus outbreak came from

( Natural News ) After initially blaming the capital ’ s resurgent Wuhan coronavirus ( COVID-19 ) outbreak on contaminated Norweigian salmon , Beijing health authorities have now backtracked , admitting that they don ’ t know where the new outbreak came from .
Wu Zunyou , chief epidemic specialist at the Chinese Center for Disease Control and Prevention ( China CDC ) , told the state-run Beijing News on July 6 that the virus likely entered the Xinfadi market sometime in May .
This contradicted previous statements from health officials that claimed that the city ’ s new outbreak @ @ @ @ @ @ @ “ It ’ s possible that an infected person brought [ the virus ] to the Xinfadi market , or a contaminated product from an epidemic area brought it , ” said Wu .
State media first reported claims that the second wave in Beijing came from imported Norwegian salmon in mid-June .
Back then , traces of the virus were supposedly found in the chopping board of a seller of imported salmon in the giant Xinfadi wholesale market .
( Related : Schools close as Beijing sees fresh coronavirus outbreak . )
@ @ @ @ @ @ @ s meat and vegetables .
Unlike the market in Wuhan , however , there is no evidence of the wildlife trade in Xinfadi .
A spokesman for the Beijing Municipal Health Commission , however , stated that traces of the virus had also been found in some 40 other samples from the market , some of which were not from chopping boards used for imported salmon .
Following this , China CDC announced that there was no evidence that salmon was the host for the virus .
According to Shu Guoqing , deputy @ @ @ @ @ @ @ response center , there was no trace of the virus on the salmon before it reached Xinfadi .
Shu ’ s statement suggests that the coronavirus was already present in the market , rather than in the salmon , something that other experts agree with .
“ Viruses must rely on the viral receptor on the host cell surfaces to infect cells .
Without the certain receptor they can not enter into cells successfully , ” said Cheng Gong , a virologist at Tsinghua University .
“ All known evidence so far suggests @ @ @ @ @ @ @ mammals , not fish.
” China CDC ’ s Wu also agreed , saying that fish , such as salmon , could not catch the coronavirus in the wild .
That said , he conceded that it was possible that they were contaminated by workers during their capture or transportation .
While China CDC has cleared salmon as the source of Beijing ’ s resurgent outbreak , that didn ’ t stop people from panicking over it .
Restaurants and supermarkets across Beijing rushed to pull salmon off their menus and shelves .
@ @ @ @ @ @ @ canceled , and imports halted .
China only represents a small share – less than 5 percent last year – of the global salmon market .
That said , the country is also one of the fastest-growing markets for salmon and fish farmers who were already hurting from pandemic restrictions .
In the Oslo stock exchange , most salmon stocks also fell after the now erroneous report of the fish carrying the virus hit .
Bakkafrost , the largest salmon producer in the Faroe Islands , saw their stocks dip as much as @ @ @ @ @ @ @ halted all their shipments to China .
China is looking for another country to blame As criticism has mounted for China ’ s handling of the pandemic , the country has made repeated attempts to distance itself from the blame , even going as far as to place the blame on other countries .
Following the salmon incident , China turned its sights on Spain , claiming that the latter was the true source of the coronavirus .
Chinese officials cited research that supposedly found traces of the coronavirus in Barcelona ’ s @ @ @ @ @ @ @ 2019 .
Independent experts , however , have cast doubts on the research China cited , saying that it was flawed and that most evidence strongly points to the virus first emerging in China in late 2019 .
This incident , alongside the mis-blaming of salmon for Beijing ’ s outbreak , raises alarms on how far China is willing to go to avoid blame for the pandemic .
Even as authorities backtrack on earlier statements and admit that they don ’ t really know where the latest outbreaks are coming from , @ @ @ @ @ @ @ beyond China ’ s borders .
It seems , however , that China isn ’ t afraid of these consequences as it looks to avoid blame for the ongoing pandemic .

(Natural News) After initially blaming the capital’s resurgent Wuhan coronavirus (COVID-19) outbreak on contaminated Norweigian salmon, Beijing health authorities have now backtracked, admitting that they don’t know where the new outbreak came from.
Wu Zunyou, chief epidemic specialist at the Chinese Center for Disease Control and Prevention (China CDC), told the state-run Beijing News on July 6 that the virus likely entered the Xinfadi market sometime in May. This contradicted previous statements from health officials that claimed that the city’s new outbreak came via frozen salmon from Norway.
“It’s possible that an infected person brought [the virus] to the Xinfadi market, or a contaminated product from an epidemic area brought it,” said Wu.
Imported salmon mis-blamed for the outbreak
State media first reported claims that the second wave in Beijing came from imported Norwegian salmon in mid-June. Back then, traces of the virus were supposedly found in the chopping board of a seller of imported salmon in the giant Xinfadi wholesale market. (Related: Schools close as Beijing sees fresh coronavirus outbreak.)
Xinfadi supplies 80 percent of Beijing’s meat and vegetables. Unlike the market in Wuhan, however, there is no evidence of the wildlife trade in Xinfadi.
A spokesman for the Beijing Municipal Health Commission, however, stated that traces of the virus had also been found in some 40 other samples from the market, some of which were not from chopping boards used for imported salmon.
Following this, China CDC announced that there was no evidence that salmon was the host for the virus. According to Shu Guoqing, deputy director of China CDC’s emergency response center, there was no trace of the virus on the salmon before it reached Xinfadi.
Shu’s statement suggests that the coronavirus was already present in the market, rather than in the salmon, something that other experts agree with.
“Viruses must rely on the viral receptor on the host cell surfaces to infect cells. Without the certain receptor they cannot enter into cells successfully,” said Cheng Gong, a virologist at Tsinghua University. “All known evidence so far suggests this kind of receptors exist only in mammals, not fish.”
China CDC’s Wu also agreed, saying that fish, such as salmon, could not catch the coronavirus in the wild. That said, he conceded that it was possible that they were contaminated by workers during their capture or transportation.
Mis-blaming caused panic, salmon exporters affected
While China CDC has cleared salmon as the source of Beijing’s resurgent outbreak, that didn’t stop people from panicking over it.
Restaurants and supermarkets across Beijing rushed to pull salmon off their menus and shelves. Meanwhile, orders of the fish were canceled, and imports halted.
We are primarily funded by readers. Please subscribe and donate to support us!
China only represents a small share – less than 5 percent last year – of the global salmon market. That said, the country is also one of the fastest-growing markets for salmon and fish farmers who were already hurting from pandemic restrictions.
In the Oslo stock exchange, most salmon stocks also fell after the now erroneous report of the fish carrying the virus hit. Bakkafrost, the largest salmon producer in the Faroe Islands, saw their stocks dip as much as 4.2 percent by June 16 after they halted all their shipments to China.
China is looking for another country to blame
As criticism has mounted for China’s handling of the pandemic, the country has made repeated attempts to distance itself from the blame, even going as far as to place the blame on other countries.
Following the salmon incident, China turned its sights on Spain, claiming that the latter was the true source of the coronavirus. Chinese officials cited research that supposedly found traces of the coronavirus in Barcelona’s wastewater as far back as March of 2019.
Independent experts, however, have cast doubts on the research China cited, saying that it was flawed and that most evidence strongly points to the virus first emerging in China in late 2019.
This incident, alongside the mis-blaming of salmon for Beijing’s outbreak, raises alarms on how far China is willing to go to avoid blame for the pandemic. Even as authorities backtrack on earlier statements and admit that they don’t really know where the latest outbreaks are coming from, the initial claims already have far-reaching consequences beyond China’s borders.
It seems, however, that China isn’t afraid of these consequences as it looks to avoid blame for the ongoing pandemic.
Sources include:
TheEpochTimes.com
BBC.com
Bloomberg.com
Mirror.co.uk


investmentwatchblog--2020-07-09--Tiktok needs to be taken off the internet EVERYWHERE.

People are finally waking up and realising TikTok is a terrible app and nobody should use it .
India is banning it , US is considering banning the app , and the app is no longer available in Hong Kong .
I think it is a smart move that countries are banning it .
But every country needs to get rid of this app .
It is a security threat .
First : It is proven that the app takes your personal information and stores it .
Second : It is proven that the app is a spy tool for @ @ @ @ @ @ @ A LOT of young children on this app that don ’ t realise the meaning of the songs that they are dancing to .
There are girls on the FYP of TikTok ( which everyone can see ) that are as young as 6 dancing to songs talking about… .
Rape , murder , sex , drugs , stealing , racism , and lots of the N word .
Fourth : There are LOTS of child predators on this app .
Like I said , there are many young little girls on this @ @ @ @ @ @ @ have no idea .
Brainwashed ; The app is brainwashing .
I recently saw a video of A Tiktok “ influencer ” named ‘ Zoe Laverne ’ literally balling her eyes out that she is about to be surpassed in followers by Charli D ’ amelio .
( Tbh , Its very funny . )
youtu.be/KDmND3BjDyI I ’ m saying they are brainwashed because , they are literally crying over followers .
They care so much about followers and fans that they are gon na have a fit about it .
They are @ @ @ @ @ @ @ from china .
The CCP lures kids into the app , they start to promote CCP propaganda and the kids will be supporting the CCP over time .
Here in Canada , Bill Blairs office says they are not joining the US on banning the app .
Which angers me and it disgusting .
The government saying they are not banning this dangerous app pretty much means…..
They don ’ t care about the safety of Canadian children , They don ’ t care that China is stealing information from Canadians , and @ @ @ @ @ @ @ that they are being brainwashed .
Please… .
Please realise how bad this app is and spread the word !

by _Jack_lambert
People are finally waking up and realising TikTok is a terrible app and nobody should use it. India is banning it, US is considering banning the app, and the app is no longer available in Hong Kong.
I think it is a smart move that countries are banning it. But every country needs to get rid of this app. It is a security threat.
First: It is proven that the app takes your personal information and stores it.
Second: It is proven that the app is a spy tool for the CCP.
Third: There are A LOT of young children on this app that don’t realise the meaning of the songs that they are dancing to. There are girls on the FYP of TikTok (which everyone can see) that are as young as 6 dancing to songs talking about…. Rape, murder, sex, drugs, stealing, racism, and lots of the N word.
Fourth: There are LOTS of child predators on this app. Like I said, there are many young little girls on this app that could be preyed on and have no idea.
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Brainwashed; The app is brainwashing. I recently saw a video of A Tiktok “influencer” named ‘Zoe Laverne’ literally balling her eyes out that she is about to be surpassed in followers by Charli D’amelio. (Tbh, Its very funny.) youtu.be/KDmND3BjDyI
I’m saying they are brainwashed because, they are literally crying over followers. They care so much about followers and fans that they are gonna have a fit about it.
They are also brainwashed because.. this app is coming from china. The CCP lures kids into the app, they start to promote CCP propaganda and the kids will be supporting the CCP over time.
Here in Canada, Bill Blairs office says they are not joining the US on banning the app. Which angers me and it disgusting. The government saying they are not banning this dangerous app pretty much means….. They don’t care about the safety of Canadian children, They don’t care that China is stealing information from Canadians, and says that they don’t care that they are being brainwashed.

Please…. Please realise how bad this app is and spread the word!
Disclaimer: This is a guest post.


investmentwatchblog--2020-07-09--Grubhub, Uber and Postmates accused of antitrust violations.

A lawsuit filed this week by a group of restaurant consumers accuses third-party delivery companies Grubhub , Uber and Postmates @ @ @ @ @ inflated menu prices .
The class action suit alleges that high commissions charged by the @ @ @ @ @ higher prices .
In turn , the platforms ’ strict pricing restrictions essentially lock in @ @ @ @ @ .
The result , says the suit : “ Any restaurant using any defendant ’ @ @ @ @ @ its customers supracompetitive prices.
” The three platforms named in the lawsuit made up 54 @ @ @ @ @ in May , according to consumer analytics firm Second Measure .
DoorDash accounted for most @ @ @ @ @ 44 % share .
Earlier this week , Uber acquired Postmates for $ 2.65 billion @ @ @ @ @ zeros in on pricing restrictions known as most-favored-nation provisions ( MFNs ) imposed by the @ @ @ @ @ they work with .
The MFNs , to varying degrees , prohibit the restaurants from @ @ @ @ @ channels , such as competing ordering platforms or the restaurant itself .

www.restaurantbusinessonline.com/technology/grubhub-uber-postmates-accused-antitrust-violations
A lawsuit filed this week by a group of restaurant consumers accuses third-party delivery companies Grubhub, Uber and Postmates of antitrust violations resulting in inflated menu prices.
The class action suit alleges that high commissions charged by the platforms force restaurants to charge higher prices. In turn, the platforms’ strict pricing restrictions essentially lock in those prices across the board.
The result, says the suit: “Any restaurant using any defendant’s platform charges all of its customers supracompetitive prices.”
The three platforms named in the lawsuit made up 54% of third-party delivery sales in May, according to consumer analytics firm Second Measure. DoorDash accounted for most of the rest, with 44% share.
Earlier this week, Uber acquired Postmates for $2.65 billion in stock.
The lawsuit zeros in on pricing restrictions known as most-favored-nation provisions (MFNs) imposed by the three platforms on the restaurants they work with. The MFNs, to varying degrees, prohibit the restaurants from charging lower prices through other channels, such as competing ordering platforms or the restaurant itself.


investmentwatchblog--2020-07-09--On The Imminent Collapse Of The Fractional-Reserve Gold Banking System

by Chris Powell of the Gold Anti-Trust Action Committee ( GATA ) The imminent collapse of the fractional-reserve gold banking system is the primary topic of a discussion between London metals trader and Kinesis Money founder Andrew Maguire and GATA consultant Harvey Organ , a student of the gold and silver markets for 50 years .
— His association with U.S. Commodity Futures Trading Commission member Bart Chilton .
— His testimony to the commission ’ s 2010 hearing on gold and silver futures at which it was revealed that trading leverage approaches a ratio of 100 to 1 .
@ @ @ @ @ @ @ silver he was vaulting at Scotiabank in Toronto and his struggle to recover it .
— The unreliability of the exchange-traded silver fund SLV .
— The big recent changes in the gold and silver market , including the sudden transformation of the New York Commodities Exchange — the Comex — from a derivatives market to a physical market .
— What appears to have become a run on Comex gold and silver .
— And Organ ’ s expectation that only physical gold and silver markets will survive in the future .
@ @ @ @ @ @ @ and can be viewed at You Tube here : Wine carrying the label of the Gold Anti-Trust Action Committee , cases of which were awarded to three lucky donors in GATA ’ s recent fundraising campaign , are now available for purchase by the case from Fay J Winery LLC in Texarkana , Texas .
Each case has 12 bottles and the cost is $ 240 , which includes shipping via Federal Express .
Here ’ s what the bottles look like : Buyers can compose their case by choosing as many as @ @ @ @ @ @ @ GATA will receive a commission on each case of GATA-label wine sold .
So if you like wine and buy it anyway , why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals ?
To order a case of GATA-label wine , please e-mail Fay J Winery at bagman1236 @ aol.com .
“ Rigged ” is a concise explanation of government ’ s currency market rigging policy and extensively credits GATA ’ s work exposing it .
Ten percent of sales proceeds @ @ @ @ @ @ @ copy for $ 14.99 through Amazon — — or for an additional $ 3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert @ comcast.net .
Help keep GATA going : GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code .
Its e-mail dispatches are free , and you can subscribe at : To contribute to GATA , please visit :

by Chris Powell of the Gold Anti-Trust Action Committee (GATA)
Dear Friend of GATA and Gold:
The imminent collapse of the fractional-reserve gold banking system is the primary topic of a discussion between London metals trader and Kinesis Money founder Andrew Maguire and GATA consultant Harvey Organ, a student of the gold and silver markets for 50 years.
They review:
— Organ’s lifelong interest in the monetary metals.
— His association with U.S. Commodity Futures Trading Commission member Bart Chilton.
— His testimony to the commission’s 2010 hearing on gold and silver futures at which it was revealed that trading leverage approaches a ratio of 100 to 1.
— The mishandling of the gold and silver he was vaulting at Scotiabank in Toronto and his struggle to recover it.
— The unreliability of the exchange-traded silver fund SLV.
— The big recent changes in the gold and silver market, including the sudden transformation of the New York Commodities Exchange — the Comex — from a derivatives market to a physical market.
— What appears to have become a run on Comex gold and silver.
— And Organ’s expectation that only physical gold and silver markets will survive in the future.
The interview is nearly an hour long and can be viewed at You Tube here:
CHRIS POWELL, Secretary/TreasurerGold Anti-Trust Action Committee Inc.
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA’s recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here’s what the bottles look like:
We are primarily funded by readers. Please subscribe and donate to support us!
www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert’s “Rigged”
“Rigged” is a concise explanation of government’s currency market rigging policy and extensively credits GATA’s work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon —
www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651…
— or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
www.gata.org
To contribute to GATA, please visit:
www.gata.org/node/16


investmentwatchblog--2020-07-09--Warning: The Fed is About to “Pull the Plug” on the Markets

The Fed is preparing to pull the plug on the markets .
Quietly and with little notice , the Fed balance sheet has begun shrinking .
Indeed , it started in early June 2020 .
It is not coincidence that the S & P 500 peaked around that date .
Much of the prior contractions were due to the Fed reducing its currency swaps .
However , this last week , the Fed actually drained $ 24 billion in liquidity from the system .
This is a BIG NEGATIVE for stocks .
Moreover , the head of the NY Fed @ @ @ @ @ @ @ man who in charge of doing the actual buying involved in the Fed ’ s QE programs ) made a speech indicating that the Fed is planning on reducing its QE programs soon .
So the Fed is literally warning us that if the markets continue to rally , the Fed is going to “ pull the plug ” on QE .
In light of this , we ’ ve reopened our Stock Market Crash Survival Guide to the general public .
Within its 21 pages we outline which investments will perform best @ @ @ @ @ @ @ how to take out “ Crash insurance ” on your portfolio ( these instruments returned TRIPLE digit gains during 2008 ) .
We made 100 copies available to the public .
As I write this , there are 29 left .
To pick up your copy of this report , FREE , swing by :

The Fed is preparing to pull the plug on the markets.
Quietly and with little notice, the Fed balance sheet has begun shrinking. Indeed, it started in early June 2020.
It is not coincidence that the S&P 500 peaked around that date.
Much of the prior contractions were due to the Fed reducing its currency swaps. However, this last week, the Fed actually drained $24 billion in liquidity from the system.
This is a BIG NEGATIVE for stocks.
Moreover, the head of the NY Fed’s Markets Group, (the man who in charge of doing the actual buying involved in the Fed’s QE programs) made a speech indicating that the Fed is planning on reducing its QE programs soon.
Since the SMCCF’s launch, as market functioning has improved, we have slowed the pace of purchases, from about $300 million per day to a bit under $200 million a day. If market conditions continue to improve, Fed purchases could slow further, potentially reaching very low levels or stopping entirely. Source: The New York Fed.
So the Fed is literally warning us that if the markets continue to rally, the Fed is going to “pull the plug” on QE.
Buckle up.
In light of this, we’ve reopened our Stock Market Crash Survival Guide to the general public.
We are primarily funded by readers. Please subscribe and donate to support us!
Within its 21 pages we outline which investments will perform best during a market meltdown as well as how to take out “Crash insurance” on your portfolio (these instruments returned TRIPLE digit gains during 2008).
We made 100 copies available to the public.
As I write this, there are 29 left.
To pick up your copy of this report, FREE, swing by:
phoenixcapitalmarketing.com/stockmarketcrash.html
Best Regards
Graham Summers
Chief Market StrategistParagraph
Phoenix Capital Research


investmentwatchblog--2020-07-09--Hurry Up And Sell All Your Gold (& Silver) Now! The Bottom’s Falling Out!

( by Half Dollar ) You better hurry up and sell all of your gold !
For those who like the tick-by-tick , or for those who are counting , that was 17,778 contracts in four minute .
At 100 ounces per contract , we ’ re talking about 1,777 , 800 ounces of “ gold ” .
That was mostly sold : Of course , the cartel doesn ’ t have to sell all of that gold , they just have to sell enough to blow the stops and cause the cascade of selling .
Here ’ s a @ @ @ @ @ @ @ : Of course , gold ’ s not the only one getting hit .
I don ’ t think the prices for either stay down for long .
So the MSM has their propaganda , and the cartel has their cover to sell gold ( and silver ) .
The question is , why is the stock market puking ?
The MSM would pin it on this : It is quite the convenient excuse , you know .
Especially when silver ’ s staring down 52-week highs : Because we can ’ t @ @ @ @ @ @ @ ?

(by Half Dollar) You better hurry up and sell all of your gold!
For those who like the tick-by-tick, or for those who are counting, that was 17,778 contracts in four minute.
At 100 ounces per contract, we’re talking about 1,777, 800 ounces of “gold”.
That was mostly sold:
Of course, the cartel doesn’t have to sell all of that gold, they just have to sell enough to blow the stops and cause the cascade of selling.
Here’s a look at the spike in trading volume:
Of course, gold’s not the only one getting hit.
Silver’s getting hit too:
I don’t think the prices for either stay down for long.
We are primarily funded by readers. Please subscribe and donate to support us!
What’s going on?
Well, the stock market started puking:
So the MSM has their propaganda, and the cartel has their cover to sell gold (and silver).
The question is, why is the stock market puking?
The MSM would pin it on this:
It is quite the convenient excuse, you know.
Especially when silver’s staring down 52-week highs:
Because we can’t have that happening now, can we?
Developing…


investmentwatchblog--2020-07-09--Federal Reserve: Everything is fine. Just like in 2008

It ’ s nothing but rosy news coming from the Federal Reserve .
“ The banking system remains well-capitalized under even the harshest of these downside scenarios .
.
.
” In other words , everything is just fine .
Yet at the same time , the Fed also announced that it would impose restrictions on bank dividends and stock buybacks , essentially preventing banks from passing along their profits to shareholders .
If those two statements strike you as completely contradictory , you ’ re right .
If the Fed isn ’ t worried in the slightest because the @ @ @ @ @ @ @ the harshest downside scenarios ’ , then why restrict what banks can/ can not do with their private profits ?
This forked tongue communication style is becoming somewhat of a trend .
Back in March , the head of the FDIC released a video asking Americans to NOT withdraw their money from the banks .
“ Your money is safe at the banks , ” she said , with soft piano music in the background .
“ The last thing you should be doing is pulling your money out of the banks thinking @ @ @ @ @ @ @ somewhere else.
” This reminds me of back when Ben Bernanke repeatedly told the public , and Congress , that housing prices would continue rise , and that a subprime mortgage meltdown would not affect the broader economy .
Or in July 2007 when Bernanke said : “ Overall , the U.S. economy seems likely to expand at a moderate pace over the second half of 2007 , with growth then strengthening a bit in 2008.
” And even in early 2008 when Bernanke said , “ The Federal Reserve is not currently @ @ @ @ @ @ @ the federal housing agencies Fannie Mae and Freddie Mac “ would make it through the storm.
” Within months , Fannie Mae and Freddie Mac had collapsed , the economy went into the harshest recession since the Great Depression , and the entire financial system was on the brink of failure .
Bear in mind , this was the Chairman of the Federal Reserve telling people that everything was fine .
Now the Fed ( and FDIC ) are once again telling us that everything is fine .
Yes , everything is fine @ @ @ @ @ @ @ the economy have shut down , tens of millions of people are unemployed , countless businesses have failed and will never re-open , major cities across the United States have experienced extreme social unrest and continued economic disruption , and now a second wave of the pandemic is upon us .
But other than that , everything is just fine .
And , definitely , DEFINITELY , don ’ t worry about the banks .
Don ’ t even think about the banks .
Nevermind that some of the largest banks in the @ @ @ @ @ @ @ is different .
In fairness , they might be right .
But who really knows ?
This is one of the [ many ] big problems in banking : there ’ s practically zero transparency .
As an example , I was looking at Bank of America ’ s financial statements yesterday ; their balance sheet shows $ 983 billion in loans .
And that ’ s about all the detail you get ; even doing a deep dive into the footnotes and annual report shows little additional information .
What are the @ @ @ @ @ @ @ duration risk ?
How valuable and marketable is the collateral ?
What legal security was taken over the collateral ?
Is there even any collateral at all ?
Plus there ’ s extremely limited information on the bank ’ s exposure to riskier derivatives and collateralized loan obligations ( CLOs– which are the toxic securities du jour ) .
In fact there ’ s far more information about Bank of America ’ s diversity and inclusion programs than disclosures about potential financial threats .
Again , it ’ s possible that there ’ @ @ @ @ @ @ @ is just fine .
But given the lack of transparency , it ’ s impossible to independently verify .
The Fed and FDIC insist everything is OK .
But the Fed and FDIC ( along with the entire financial system ) insisted that everything was OK back in 2008 right before everything collapsed .
Why should we be so trusting again this time in light of such obvious risks ?
To be clear , I ’ m not suggesting that anyone should pull their money out of the banks .
But there are @ @ @ @ @ @ @ You work hard for your money .
So the decision of which bank to trust with your hard-earned savings should be deliberate .
Most people choose where to bank based on irrelevant factors , like location– ‘ There ’ s a branch near my kid ’ s karate school , so I ’ ll deposit my funds there.
’ There are far more important factors .
Do they treat you well , or like a criminal suspect ?
Do they treat your money well , or do they gamble it away on some @ @ @ @ @ @ @ ?
Are they conservative , responsible custodians of my money ?
Those are the things that matter in a bank .
Here ’ s an easy litmus test : if your bank routinely sends you junk mail offering to loan money at super attractive terms , that ’ s a good indication you DON ’ T want to be a depositor there .
No money down ?
Teaser interest rates ?
No personal guarantee ?
To me , those are reasons to take my money and run .
Because when a bank makes @ @ @ @ @ @ @ , they ’ re taking on unnecessary risks .
And they ’ re doing it with MY money .
And YOUR money .
Not theirs .
I prefer to deposit my savings at a bank that scrutinizes every prospective borrower and has incredibly stingy loan terms .
Because at least I know they ’ re being very conservative with my money .
Second , you might want to also consider gold .
Gold was money for thousands of years .
And the whole time , it held its value .
Even US dollars @ @ @ @ @ @ @ .
But in 1971 , Nixon formally ended the gold standard and divorced the dollar from gold .
And go figure , the 1970s was a dismal decade of stagflation , where the value of the dollar plummeted , wages stagnated , and unemployment soared .
What a surprise !
But gold did quite well , and silver did even better .
Maybe 5,000 years of history is wrong , and humanity suddenly got smarter in 1971 .
Or perhaps gold is still the safest haven we have available , despite what the @ @ @ @ @ @ @

by Simon Black
It’s nothing but rosy news coming from the Federal Reserve.
Recently the Fed released this reassuring statement:
“The banking system remains well-capitalized under even the harshest of these downside scenarios. . .”
In other words, everything is just fine.
Yet at the same time, the Fed also announced that it would impose restrictions on bank dividends and stock buybacks, essentially preventing banks from passing along their profits to shareholders.
If those two statements strike you as completely contradictory, you’re right.
If the Fed isn’t worried in the slightest because the banking system remains strong ‘even under the harshest downside scenarios’, then why restrict what banks can/cannot do with their private profits?
This forked tongue communication style is becoming somewhat of a trend.
Back in March, the head of the FDIC released a video asking Americans to NOT withdraw their money from the banks.
“Your money is safe at the banks,” she said, with soft piano music in the background. “The last thing you should be doing is pulling your money out of the banks thinking it’s going to be safer somewhere else.”
This reminds me of back when Ben Bernanke repeatedly told the public, and Congress, that housing prices would continue rise, and that a subprime mortgage meltdown would not affect the broader economy.
Or in July 2007 when Bernanke said: “Overall, the U.S. economy seems likely to expand at a moderate pace over the second half of 2007, with growth then strengthening a bit in 2008.”
And even in early 2008 when Bernanke said, “The Federal Reserve is not currently forecasting a recession,” and that the federal housing agencies Fannie Mae and Freddie Mac “would make it through the storm.”
Within months, Fannie Mae and Freddie Mac had collapsed, the economy went into the harshest recession since the Great Depression, and the entire financial system was on the brink of failure.
Bear in mind, this was the Chairman of the Federal Reserve telling people that everything was fine.
Now the Fed (and FDIC) are once again telling us that everything is fine.
Yes, everything is fine despite the fact that large sections of the economy have shut down, tens of millions of people are unemployed, countless businesses have failed and will never re-open, major cities across the United States have experienced extreme social unrest and continued economic disruption, and now a second wave of the pandemic is upon us.
But other than that, everything is just fine.
And, definitely, DEFINITELY, don’t worry about the banks. Don’t even think about the banks. Nevermind that some of the largest banks in the world failed in 2008. This time is different.
In fairness, they might be right. But who really knows?
This is one of the [many] big problems in banking: there’s practically zero transparency.
As an example, I was looking at Bank of America’s financial statements yesterday; their balance sheet shows $983 billion in loans.
And that’s about all the detail you get; even doing a deep dive into the footnotes and annual report shows little additional information.
What are the loan terms? What’s the duration risk? How valuable and marketable is the collateral? What legal security was taken over the collateral? Is there even any collateral at all?
Plus there’s extremely limited information on the bank’s exposure to riskier derivatives and collateralized loan obligations (CLOs– which are the toxic securities du jour).
We are primarily funded by readers. Please subscribe and donate to support us!
In fact there’s far more information about Bank of America’s diversity and inclusion programs than disclosures about potential financial threats.
Again, it’s possible that there’s nothing to see here and everything is just fine. But given the lack of transparency, it’s impossible to independently verify.
The Fed and FDIC insist everything is OK. But the Fed and FDIC (along with the entire financial system) insisted that everything was OK back in 2008 right before everything collapsed.
Why should we be so trusting again this time in light of such obvious risks?
To be clear, I’m not suggesting that anyone should pull their money out of the banks.
But there are a few important things to consider:
You work hard for your money. So the decision of which bank to trust with your hard-earned savings should be deliberate.
Most people choose where to bank based on irrelevant factors, like location– ‘There’s a branch near my kid’s karate school, so I’ll deposit my funds there.’
There are far more important factors. Do they treat you well, or like a criminal suspect? Do they treat your money well, or do they gamble it away on some ridiculous investment fad?
Are they transparent? Are they conservative, responsible custodians of my money?
Those are the things that matter in a bank.
Here’s an easy litmus test: if your bank routinely sends you junk mail offering to loan money at super attractive terms, that’s a good indication you DON’T want to be a depositor there.
No money down? Teaser interest rates? No personal guarantee?
To me, those are reasons to take my money and run. Because when a bank makes it easy for people to borrow money, they’re taking on unnecessary risks. And they’re doing it with MY money. And YOUR money. Not theirs.
I prefer to deposit my savings at a bank that scrutinizes every prospective borrower and has incredibly stingy loan terms. Because at least I know they’re being very conservative with my money.
Second, you might want to also consider gold.
Gold was money for thousands of years. And the whole time, it held its value.
Even US dollars were redeemable for most of US history.
But in 1971, Nixon formally ended the gold standard and divorced the dollar from gold.
And go figure, the 1970s was a dismal decade of stagflation, where the value of the dollar plummeted, wages stagnated, and unemployment soared. What a surprise!
But gold did quite well, and silver did even better.
Maybe 5,000 years of history is wrong, and humanity suddenly got smarter in 1971.
Or perhaps gold is still the safest haven we have available, despite what the central banks would have us believe.


investmentwatchblog--2020-07-09--Depression Or Roaring 20’s. Everybody Is Wrong.

I ’ ve been pondering all the “ analysis ” out there on the current economic and investment landscape and can only shake my head .
That ’ s SMH , for you youngsters .
What I see are coexisting comments for a Depression and the Roaring ‘ 20s at the same time .
Again , for you youngsters , I am making a convenient comparison to the economic boom time of the 1920s , yes , before even I was born .
Everybody is wrong .
Let ’ s start with the economic downturn , which led to the @ @ @ @ @ @ @ “ 1 duh , ” because the stock market , at the onset of the economic shutdown , was looking ahead to a period of low earnings .
Of course , shuttered companies are going to earn less .
What is rather sad is that the “ experts ” said that most businesses would not recover .
Really ?
Indeed , some will never return because bills continued while revenue disappeared .
Thinking there will never be a bar , or a concert or even a catered wedding in an event hall again @ @ @ @ @ @ @ long time .
What do they think will happen when there is a vaccine to prevent COVID , medicines to treat it , and herd immunity to mitigate it ?
Do we still have mass scale chickenpox ?
Rubella ?
Polio ?
Even AIDS , while there is still no cure , is mostly under control and no longer inflicting full-blown panic on society .
I was single and living in NYC in the 1980s when AIDS became a crisis , so I know a little from the panic side .
So why @ @ @ @ @ @ @ market rockets higher ?
Again , it is looking ahead , not to a cure , but to people returning to work , masks , Purell , toilet paper , and all .
Most of the jobs are still there , waiting for the ruling overlord politicians to allow them to get back in gear .
Such was not an economic downturn that started with an uptick in inflation or the desire by consumers to cut back .
It was not rising inventories that told producers to cut back and , in turn @ @ @ @ @ @ @ slowdown ripples through the economy until labor reverses back and voila , the stock market is falling .
In many areas , this was a government-mandated shutdown .
Yes , nobody wanted to fly commercial airliners anymore , but Mom and Pop were not allowed to sell greeting cards .
Where is the danger there ?
And that gets me started on the arbitrary nature of the shutdown .
Walmart is essential because they sell food ?
But you could still buy a toilet paper cozy and flowers there .
Sally ’ s @ @ @ @ @ @ @ .
Even a local plant nursery was allowed to be open because they sold tomato plants , which are food , and therefore essential .
You can buy flowers there , too .
And mulch , because we all know how important it is to have nice looking shrub beds during a pandemic .
Why was it OK to physically go into Stop and Shop but not into Macy ’ s ?
We were wearing masks – and gloves – to buy our Cap ’ n Crunch , so what is the big @ @ @ @ @ @ @ argue that Macy ’ s was not essential enough for that , why not allow curbside ?
You could get a rack of ribs delivered contactless to your car , so why not a fresh set of sweatpants ?
I am not arguing with the concept of a mandated shutdown but rather the arbitrary nature of how it was done .
The governor ( any state ) had dictatorial discretion .
What makes me laugh is how the pundits compare year-over-year , and month-over-month sales results in a mandated closed economy .
Why @ @ @ @ @ @ @ climbing speeds of spider monkeys and goldfish ?
Analysts get 2-duhs .
How does it make sense to compare an open economy to a closed economy ?
Don ’ t forget the overlap with Economists on recession calls .
Yes , we could see two-quarters of contracted growth , so officially , that would be a recession .
But again , they are comparing a chicken to its egg .
Guess which one can run faster ?
Open things up ( safely ) , and there will be growth .
For the May @ @ @ @ @ @ @ for 7.5 million jobs to be lost , but there were actually 2.5 million jobs .
Such goes to show that economists are non-essential workers .
In June , there were 4.8 million jobs gained , more than a million over the estimate .
The analysts touted the numbers as the largest monthly gain in history .
Another 2-duhs .
Of course , it was huge in relation to normal times , but it was entirely in line with what was lost and why .
Headline writers do not like to put things @ @ @ @ @ @ @ You did not think that just because I have a CMT , that I won ’ t skewer technicians .
Please do me a favor and stop comparing the price to any moving average that captures data before March 23 .
That ’ s right , the market ’ s low .
The intermediate-term analysis is skewed by what happened .
Look at long-term trends that show the bull run from the 2009 low , but please don ’ t think the 200-day average has any validity .
Know your tools .
You @ @ @ @ @ @ @ .
If you read this far , I thank you and suggest you get outside more ( wear a mask ) .
I am not afraid to get a haircut in a salon that takes care to keep me safe .
There is little worry about walking into a store , my doctor ’ s office or even flying to a resort .
However , as long as I know the establishment ’ s policy to operate safely in the current environment .
I am more afraid of who is preparing my food @ @ @ @ @ @ @ in a mask , but then again , when was it ever a good idea to peek into the kitchen ?
Educate yourself on this virus .
Believe the emergency room workers when they tell you this is a serious disease .
But we are passed the stage where the only answer is self-isolation and an Amazon account .

by Michael Kahn
I’ve been pondering all the “analysis” out there on the current economic and investment landscape and can only shake my head. That’s SMH, for you youngsters. What I see are coexisting comments for a Depression and the Roaring ‘20s at the same time. Again, for you youngsters, I am making a convenient comparison to the economic boom time of the 1920s, yes, before even I was born. Everybody is wrong.
Economists Are Wrong
Let’s start with the economic downturn, which led to the stock market collapse. Such is rated “1 duh,” because the stock market, at the onset of the economic shutdown, was looking ahead to a period of low earnings. Of course, shuttered companies are going to earn less.
What is rather sad is that the “experts” said that most businesses would not recover. Really? Indeed, some will never return because bills continued while revenue disappeared. Thinking there will never be a bar, or a concert or even a catered wedding in an event hall again, is ludicrous.
Never is a long time. What do they think will happen when there is a vaccine to prevent COVID, medicines to treat it, and herd immunity to mitigate it? Do we still have mass scale chickenpox? Rubella? Polio? Even AIDS, while there is still no cure, is mostly under control and no longer inflicting full-blown panic on society. I was single and living in NYC in the 1980s when AIDS became a crisis, so I know a little from the panic side.
So why is everyone so shocked when the stock market rockets higher? Again, it is looking ahead, not to a cure, but to people returning to work, masks, Purell, toilet paper, and all. Most of the jobs are still there, waiting for the ruling overlord politicians to allow them to get back in gear.
Such was not an economic downturn that started with an uptick in inflation or the desire by consumers to cut back. It was not rising inventories that told producers to cut back and, in turn, buy less from suppliers. The slowdown ripples through the economy until labor reverses back and voila, the stock market is falling.
Politicians are Wrong
In many areas, this was a government-mandated shutdown. Yes, nobody wanted to fly commercial airliners anymore, but Mom and Pop were not allowed to sell greeting cards. Where is the danger there? And that gets me started on the arbitrary nature of the shutdown.
Walmart is essential because they sell food? But you could still buy a toilet paper cozy and flowers there. Sally’s florist down the block was mandated closed.
Even a local plant nursery was allowed to be open because they sold tomato plants, which are food, and therefore essential. You can buy flowers there, too. And mulch, because we all know how important it is to have nice looking shrub beds during a pandemic.
Why was it OK to physically go into Stop and Shop but not into Macy’s? We were wearing masks – and gloves – to buy our Cap’n Crunch, so what is the big deal? And if you want to argue that Macy’s was not essential enough for that, why not allow curbside? You could get a rack of ribs delivered contactless to your car, so why not a fresh set of sweatpants?
We are primarily funded by readers. Please subscribe and donate to support us!
I am not arguing with the concept of a mandated shutdown but rather the arbitrary nature of how it was done. The governor (any state) had dictatorial discretion.
Fundamental Analysts are Wrong
What makes me laugh is how the pundits compare year-over-year, and month-over-month sales results in a mandated closed economy. Why don’t they compare the tree climbing speeds of spider monkeys and goldfish? Analysts get 2-duhs.
How does it make sense to compare an open economy to a closed economy?
Don’t forget the overlap with Economists on recession calls. Yes, we could see two-quarters of contracted growth, so officially, that would be a recession. But again, they are comparing a chicken to its egg. Guess which one can run faster? Open things up (safely), and there will be growth.
For the May jobs report, the experts were looking for 7.5 million jobs to be lost, but there were actually 2.5 million jobs. Such goes to show that economists are non-essential workers.
In June, there were 4.8 million jobs gained, more than a million over the estimate. The analysts touted the numbers as the largest monthly gain in history. Another 2-duhs. Of course, it was huge in relation to normal times, but it was entirely in line with what was lost and why. Headline writers do not like to put things in context, do they?`
Technical Analysts are Wrong
You did not think that just because I have a CMT, that I won’t skewer technicians. Please do me a favor and stop comparing the price to any moving average that captures data before March 23. That’s right, the market’s low. The intermediate-term analysis is skewed by what happened. Look at long-term trends that show the bull run from the 2009 low, but please don’t think the 200-day average has any validity. Know your tools. You get only 1-duh because I like you.
If you read this far, I thank you and suggest you get outside more (wear a mask). I am not afraid to get a haircut in a salon that takes care to keep me safe. There is little worry about walking into a store, my doctor’s office or even flying to a resort. However, as long as I know the establishment’s policy to operate safely in the current environment. I am more afraid of who is preparing my food because I cannot see the chef in a mask, but then again, when was it ever a good idea to peek into the kitchen?
Educate yourself on this virus. Believe the emergency room workers when they tell you this is a serious disease. But we are passed the stage where the only answer is self-isolation and an Amazon account.


investmentwatchblog--2020-07-09--WELL: Obama admin shut down H1N1 testing, complicating Biden’s attacks on Trump’s coronavirus screen

WELL: Obama admin shut down H1N1 testing, complicating Biden’s attacks on Trump’s coronavirus screening: Public health officials disagreed with Obama CDC’s decision.

Joe Biden is stepping up his attacks on the Trump administration ’ s coronavirus testing management , saying Wednesday that “ the crisis in Arizona is the direct result of Donald Trump ’ s failure to lead and his desire to ‘ slow the testing down , ’ and Americans are suffering the consequences.
” Biden specifically called for the White House to “ immediately resume operating federally-managed community-based testing around the country and establish multiple sites in Arizona.
” And , in recent weeks , Biden has demanded that Trump “ speed up the testing ” nationwide , saying @ @ @ @ @ @ @ of the safety and economic well-being of the American people.
” However , during the 2009 swine flu pandemic , the Obama administration suddenly told states to shut down their testing , without providing much in the way of explanation .
And , Biden ’ s top advisor at the time has acknowledged that the Obama administration didn ’ t do “ anything right ” to combat that pandemic , before walking back those comments .
The record seemingly complicates Biden ’ s claims , in advertising and speeches , that he would @ @ @ @ @ @ @ than the current White House .
“ In late July , the CDC abruptly advised states to stop testing for H1N1 flu , and stopped counting individual cases , ” CBS News reported in 2009 .
“ The rationale given for the CDC guidance to forego testing and tracking individual cases was : why waste resources testing for H1N1 flu when the government has already confirmed there ’ s an epidemic ?
” Reporter Sharyl Attkisson continued : “ Some public health officials privately disagreed with the decision to stop testing and counting @ @ @ @ @ @ @ of this new and possibly changing virus was important because H1N1 has a different epidemiology , affects younger people more than seasonal flu and has been shown to have a higher case fatality rate than other flu virus strains .
”

via foxnews:
Joe Biden is stepping up his attacks on the Trump administration’s coronavirus testing management, saying Wednesday that “the crisis in Arizona is the direct result of Donald Trump’s failure to lead and his desire to ‘slow the testing down,’ and Americans are suffering the consequences.”
Biden specifically called for the White House to “immediately resume operating federally-managed community-based testing around the country and establish multiple sites in Arizona.” And, in recent weeks, Biden has demanded that Trump “speed up the testing” nationwide, saying Trump has been “putting politics ahead of the safety and economic well-being of the American people.”
However, during the 2009 swine flu pandemic, the Obama administration suddenly told states to shut down their testing, without providing much in the way of explanation. And, Biden’s top advisor at the time has acknowledged that the Obama administration didn’t do “anything right” to combat that pandemic, before walking back those comments.
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The record seemingly complicates Biden’s claims, in advertising and speeches, that he would have handled state-level coronavirus testing more effectively than the current White House.
“In late July, the CDC abruptly advised states to stop testing for H1N1 flu, and stopped counting individual cases,” CBS News reported in 2009. “The rationale given for the CDC guidance to forego testing and tracking individual cases was: why waste resources testing for H1N1 flu when the government has already confirmed there’s an epidemic?”
Reporter Sharyl Attkisson continued: “Some public health officials privately disagreed with the decision to stop testing and counting, telling CBS News that continued tracking of this new and possibly changing virus was important because H1N1 has a different epidemiology, affects younger people more than seasonal flu and has been shown to have a higher case fatality rate than other flu virus strains.”
Watch the latest video at foxnews.com


LOCKDOWN #2 BEGINS

In Europe , several places ( cities and entire regions within a number of countries ) have already locked down for a second time , and many others have returned to stricter rules ( masks , quarantines and forced testing when coming from abroad , etc ) barely a couple of weeks after having relaxed those rules a bit .
They are deliberately shutting down the world economy to further this Great Reset .
What these elitists fail to grasp is that the wholesale destruction of the world economy is not going to be smoothed over with Guaranteed Basic Income @ @ @ @ @ @ @ in this new communistic world where individualism is dead .
They have realized that it is best NOT to let up and try to keep people locked down and terrorized rather than allow them freedom and then try a second lockdown September-October with the next flu season .
This is NOT the Black Plague and the wholesale destruction of the world economy will bankrupt another 20 % + of all small businesses and further their agenda to NATIONALIZE companies .
They are using this virus , that they may have planted , to @ @ @ @ @ @ @ have divided people into groups and furthered the hatred to the point that they will be turning violent against each other .
This is how even the Nazis succeeded in gaining power — divide and conquer to the point they will seek government and surrender all liberty to restore safety .
Welcome to the NEW REAL MARXIST WORLD ORDER .
Even in California , you really have to wonder why that state is so left .
The people lit up the sky on the fourth of July DESPITE the nasty draconian politicians who @ @ @ @ @ @ @ .
They are fining people up to $ 2,000 in some parts for not wearing a mask .
This is just insane .

by Martin Armstrong
In Europe, several places (cities and entire regions within a number of countries) have already locked down for a second time, and many others have returned to stricter rules (masks, quarantines and forced testing when coming from abroad, etc) barely a couple of weeks after having relaxed those rules a bit. They are deliberately shutting down the world economy to further this Great Reset. What these elitists fail to grasp is that the wholesale destruction of the world economy is not going to be smoothed over with Guaranteed Basic Income and hoping people are content to live in this new communistic world where individualism is dead.
They have realized that it is best NOT to let up and try to keep people locked down and terrorized rather than allow them freedom and then try a second lockdown September-October with the next flu season.
We are primarily funded by readers. Please subscribe and donate to support us!
This is NOT the Black Plague and the wholesale destruction of the world economy will bankrupt another 20%+ of all small businesses and further their agenda to NATIONALIZE companies. They are using this virus, that they may have planted, to achieve this dramatic Marxist Revolution. They have divided people into groups and furthered the hatred to the point that they will be turning violent against each other. This is how even the Nazis succeeded in gaining power — divide and conquer to the point they will seek government and surrender all liberty to restore safety.
Welcome to the NEW REAL MARXIST WORLD ORDER.
Even in California, you really have to wonder why that state is so left. The people lit up the sky on the fourth of July DESPITE the nasty draconian politicians who imposed a $50,000 fine per person. They are fining people up to $2,000 in some parts for not wearing a mask. This is just insane.


investmentwatchblog--2020-07-09--Fauci warns of huge US second wave if pandemic is not controlled

“ People ask about , ‘ Are we concerned about a second wave ?
’ And I keep telling people @ @ @ @ @ talking about a second wave ?
We are actually knee-deep in the first wave.
’ @ @ @ @ @ gotten out of it , ” Fauci said during a pre-recorded interview with SiriusXM Doctor @ @ @ @ @

“People ask about, ‘Are we concerned about a second wave?’ And I keep telling people, ‘What are you talking about a second wave? We are actually knee-deep in the first wave.’ We’ve never really gotten out of it,” Fauci said during a pre-recorded interview with SiriusXM Doctor Radio airing on Friday.


investmentwatchblog--2020-07-09--Operation Warp Speed gives $1.6 billion in taxpayer funding to Novavax for coronavirus vaccines

( Natural News ) Pharmaceutical giant Novavax has been awarded $ 1.6 billion from President Donald Trump ’ s “ Operation Warp Speed ” program , which aims to deliver hundreds of millions of rushed Wuhan coronavirus ( COVID-19 ) vaccines to market potentially by year ’ s end .
According to reports , the Gaithersburg , Maryland-based drug manufacturer was granted the taxpayer money to support the rapid “ large-scale manufacturing of NVX-COV2373 ” jabs , 100 million doses of which will go into production beginning this fall .
The goal is to have enough doses of the injectable @ @ @ @ @ @ @ to jab the entire nation – or as Trump himself put it , enough to jab anyone who “ wants ” the vaccine .
Since getting vaccinated for the Wuhan coronavirus ( COVID-19 ) seems likely to become a requirement in order to travel or enter businesses – much like how face masks are currently in many areas – the presumption is that millions of Americans will line right up to “ voluntarily ” get the Novavax jab once it becomes available .
“ What this Warp Speed award does is it pays @ @ @ @ @ @ @ which would be delivered starting in the fourth quarter of this year , and may be completed by January or February of next year , ” stated Novavax CEO Stanley Erck .
The money will also help cover the expenses associated with a large “ Phase 3 ” trial of the experimental vaccine , which is said to be the final state of human testing .
As many as 30,000 human guinea pigs will reportedly participate in this trial .
Drug giant Johnson & Johnson ( J & J ) is also hopping @ @ @ @ @ @ @ with the federal government back in March to receive nearly half a billion dollars in taxpayer money to develop its own vaccine for the Wuhan coronavirus ( COVID-19 ) .
J & J , as you may recall , has been the subject of many lawsuits over the years , including one from about a decade ago in which the company was accused of colluding with a pharmaceutical consultancy firm to illegally push drugs on elderly nursing home residents , as well as fraudulently bilking the Medicaid system to maximize profits .
Moderna @ @ @ @ @ @ @ billion from Operation Warp Speed , along with AstraZeneca , which was handed $ 1.2 billion from the fund to develop a Wuhan coronavirus ( COVID-19 ) vaccine in partnership with the University of Oxford .
“ Adding Novavax ’ s candidate to Operation Warp Speed ’ s diverse portfolio of vaccines increases the odds that we will have a safe , effective vaccine as soon as the end of this year , ” stated Department of Health and Human Services ( HHS ) Secretary Alex Azar .
The results of Novavax ’ @ @ @ @ @ @ @ by the end of July , followed by the launch of a Phase 2 trial .
Phase 3 will involve a much larger pool of participants that will receive the recombinant nanoparticle jab , which reportedly contains a “ proprietary ” adjuvant that supposedly helps to boost the immune response .
Novavax is also said to have received a $ 388 million grant from the Coalition for Epidemic Preparedness Innovations , or CEPI , which requires that grantees who receive manufacturing support give right of first refusal of vaccines to what ’ s @ @ @ @ @ @ @ entity created by CEPI , Gavi , the Vaccine Alliance , and the World Health Organization ( WHO ) .
“ Novavax was trading at $ 5 a share on the first trading day of this year , now it ’ s $ 120 a share , ” wrote one Zero Hedge commenter in response to the news .
“ Imagine if you knew , back in January , that there was going to be a mystery virus pandemic and that six months later this company would be awarded funding to produce a @ @ @ @ @ @ @ knew !
” More stories about Wuhan coronavirus ( COVID-19 ) vaccines are available at Vaccines.news .

by: Ethan Huff
(Natural News) Pharmaceutical giant Novavax has been awarded $1.6 billion from President Donald Trump’s “Operation Warp Speed” program, which aims to deliver hundreds of millions of rushed Wuhan coronavirus (COVID-19) vaccines to market potentially by year’s end.
According to reports, the Gaithersburg, Maryland-based drug manufacturer was granted the taxpayer money to support the rapid “large-scale manufacturing of NVX-COV2373” jabs, 100 million doses of which will go into production beginning this fall.
The goal is to have enough doses of the injectable drug ready by the start of 2021 to jab the entire nation – or as Trump himself put it, enough to jab anyone who “wants” the vaccine.
Since getting vaccinated for the Wuhan coronavirus (COVID-19) seems likely to become a requirement in order to travel or enter businesses – much like how face masks are currently in many areas – the presumption is that millions of Americans will line right up to “voluntarily” get the Novavax jab once it becomes available.
“What this Warp Speed award does is it pays for production of 100 million doses, which would be delivered starting in the fourth quarter of this year, and may be completed by January or February of next year,” stated Novavax CEO Stanley Erck.
The money will also help cover the expenses associated with a large “Phase 3” trial of the experimental vaccine, which is said to be the final state of human testing. As many as 30,000 human guinea pigs will reportedly participate in this trial.
Johnson & Johnson also receiving coronavirus vaccine money from Trump
Drug giant Johnson & Johnson (J&J) is also hopping on the gravy train, having partnered with the federal government back in March to receive nearly half a billion dollars in taxpayer money to develop its own vaccine for the Wuhan coronavirus (COVID-19).
J&J, as you may recall, has been the subject of many lawsuits over the years, including one from about a decade ago in which the company was accused of colluding with a pharmaceutical consultancy firm to illegally push drugs on elderly nursing home residents, as well as fraudulently bilking the Medicaid system to maximize profits.
Moderna has also captured about a half a billion from Operation Warp Speed, along with AstraZeneca, which was handed $1.2 billion from the fund to develop a Wuhan coronavirus (COVID-19) vaccine in partnership with the University of Oxford.
“Adding Novavax’s candidate to Operation Warp Speed’s diverse portfolio of vaccines increases the odds that we will have a safe, effective vaccine as soon as the end of this year,” stated Department of Health and Human Services (HHS) Secretary Alex Azar.
We are primarily funded by readers. Please subscribe and donate to support us!
The results of Novavax’s Phase 1 trial should be available by the end of July, followed by the launch of a Phase 2 trial. Phase 3 will involve a much larger pool of participants that will receive the recombinant nanoparticle jab, which reportedly contains a “proprietary” adjuvant that supposedly helps to boost the immune response.
Novavax is also said to have received a $388 million grant from the Coalition for Epidemic Preparedness Innovations, or CEPI, which requires that grantees who receive manufacturing support give right of first refusal of vaccines to what’s known as the Covax facility, an entity created by CEPI, Gavi, the Vaccine Alliance, and the World Health Organization (WHO).
“Novavax was trading at $5 a share on the first trading day of this year, now it’s $120 a share,” wrote one Zero Hedge commenter in response to the news.
“Imagine if you knew, back in January, that there was going to be a mystery virus pandemic and that six months later this company would be awarded funding to produce a vaccine. I’d wager someone knew!”
More stories about Wuhan coronavirus (COVID-19) vaccines are available at Vaccines.news.
Sources for this article include:
ZeroHedge.com
NaturalNews.com
NaturalNews.com
StatNews.com


investmentwatchblog--2020-07-09--Turning Japanese the Italian Way

Turning Japanese the Italian Way

We have become familiar with the economic problems which have beset Italy this century .
First membership of the Euro was not the economic nirvana promised by some as the economy grew by only around 1 % per annum in what were good years for others .
Then not only did the credit crunch hit but it was followed by the Euro area crisis which hit Italy hard in spite of the fact that it did not have the housing boom and bust which affected some others .
It did however have something of a banking crisis which the Italian @ @ @ @ @ @ @ could and indeed is still ignoring as much as it can .
This all meant that the economic output ot GDP of Italy started the Covid-19 pandemic at pretty much the same level as it was when it joined the Euro .
If we move to a measure which looks as the individual experience which is GDP per capita it was around 5 % lower as the same output is divided amongst a population which has grown .
There is an irony in that as Italy looking forwards has a demographic problem via @ @ @ @ @ @ @ a solution to that has seemingly led to few if any economic benefits .
Up until now the Italian economy has lived up or in many ways down to the description of “ Girlfriend in a Coma ” As we look forwards we see that Italy faces nearly all of the economic problems of our times and some of our deepest fears .
In essence the opening paragraph above describes something of a Japanification , except Japan has in many respects done better .
We have an ossified banking sector which only ever @ @ @ @ @ @ @ rather one where any good news ( the Atlante or Atlas bailouts ) ends up making things worse , and that is before we get to Prime Minister Renzi telling Italians that Monte Paschi was a good investment back in 2016 .
There is the elevated level of unemployment which I have estimated at 12 % rather than the official 7.4 % .
Next comes the relatively large national debt which has been around 130 % of GDP or Gross Domestic Product for a while now and debt will be surging as GDP @ @ @ @ @ @ @ All of that is magnified by the way that economic recoveries in Italy keep being so weak meaning that any talk of a V-shaped recovery is likely to be just that , talk .
Where do we stand ?
In my case right behind Italy as it is a lovely country but sadly the numbers are grim.The official monthly economic report cntined a new survey .
That shows quite an impact although the rest of the report tried to be positive .
As you can see “ some improvements ” hardly match the @ @ @ @ @ @ @ shift towards saving has become noticeable in this pandemic as workers receive furlough payments but either can not or do not want to fully spend them .
In another Japanese link the Italians have a strong savings culture .
For all their faults retail sales give us a clue towards consumption data which we expect to be the driver of the hoped for recovery so here is Tuesdays update on this .
A not unexpected bounce as lockdown restrictions were eased but sadly we get a better perspective from the annual and quarterly @ @ @ @ @ @ @ not mean online which rose by 42 % .
The area hardesr affected has been clothing and footwear which saw falls of between 35 and 38 per cent depending which category you choose .
A familiar topic on here , so let us open with a positive for their balance sheets In ordinary times that would have the Governor of the Bank of Italy sending a Grazi note to Mario Draghi as he searches the official wne cellar for his favourite Chianti .
But of course Mario has departed and so has any @ @ @ @ @ @ @ .
Much less positive has been the role of the banking sector in supporting business as this recent Bank of Italy working paper highlights .
That reminds us of a past issue the amount of bad or sour loans which is about to return .
Frankly the one hope here is that the burden gets shifted to the taxpayer .
From an Italian point of view they would prefer this to be a Euro area one preferably the sort of Special Purpose Vehicle which does nor raise the national debt .
Well until @ @ @ @ @ @ @ The Italian situation is a curious type of turning Japanese as in many ways it is heading for an inferior version .
I recall noting the issue of The Mafia and virgin olive oil which usally wasn ’ t and now I note reports of it being involved in the Italian hospital sector .
Japan also has organised crime but The Yakuza do not seem to be on the same scale .
Even this weeks forecast from the European Commission has struggled to find much positive here .
It is not so go @ @ @ @ @ @ @ rather than genuine growth and even with them only about half of the decline will be regained which makes the last sentence both odd and otiose .
I do not quote the forecast because I think it will be accurate but because even the European Commission can not find part one of Reasons To Be Cheerful , let alone the next two .

by Shaun Richards
We have become familiar with the economic problems which have beset Italy this century. First membership of the Euro was not the economic nirvana promised by some as the economy grew by only around 1% per annum in what were good years for others. Then not only did the credit crunch hit but it was followed by the Euro area crisis which hit Italy hard in spite of the fact that it did not have the housing boom and bust which affected some others. It did however have something of a banking crisis which the Italian establishment ignored for as long as it could and indeed is still ignoring as much as it can. This all meant that the economic output ot GDP of Italy started the Covid-19 pandemic at pretty much the same level as it was when it joined the Euro. If we move to a measure which looks as the individual experience which is GDP per capita it was around 5% lower as the same output is divided amongst a population which has grown. There is an irony in that as Italy looking forwards has a demographic problem via its ageing population but so far importing a solution to that has seemingly led to few if any economic benefits. Up until now the Italian economy has lived up or in many ways down to the description of “Girlfriend in a Coma ”
As we look forwards we see that Italy faces nearly all of the economic problems of our times and some of our deepest fears. In essence the opening paragraph above describes something of a Japanification, except Japan has in many respects done better. We have an ossified banking sector which only ever seems to bring bad news. Or rather one where any good news ( the Atlante or Atlas bailouts) ends up making things worse, and that is before we get to Prime Minister Renzi telling Italians that Monte Paschi was a good investment back in 2016. There is the elevated level of unemployment which I have estimated at 12% rather than the official 7.4%. Next comes the relatively large national debt which has been around 130% of GDP or Gross Domestic Product for a while now and debt will be surging as GDP falls in a double whammy effect. All of that is magnified by the way that economic recoveries in Italy keep being so weak meaning that any talk of a V-shaped recovery is likely to be just that, talk.
Where do we stand?
In my case right behind Italy as it is a lovely country but sadly the numbers are grim.The official monthly economic report cntined a new survey.
Pandemic impact on firms was sudden and exceptionally intense, causing serious survival risks. The 38.8% of
Italian firms (equal to 28.8% of employment, about 3.6 million employees, and 22.5% of value added, about 165
billion of euro) claimed the existence of economic and managerial factors which put at risk firms survival within the
year. In particular, the possibility of operative default is determined mainly by the sharp fall of revenues (over 50%
with respect to the same period of 2019, Figure 3), for 74% of firms and by the lockdown for 59.7% of firms.
That shows quite an impact although the rest of the report tried to be positive.
In May and June, the Italian indicators showed some improvements of economic activity following the strong decreases in March and April. In May, extra Eu exports increased and in June the confidence improvement was diffused to all sectors. Recent data on incomes, consumption and labour market reflect the impact of expansionary policies, contrasting the fall of personal income that turned out in an increase of the saving rate in the first quarter and of retail trade in May. The decreasing trend of employment has continued although at moderate pace, while weekly working hours and unemployment rate increased.
As you can see “some improvements ” hardly match the previous “strong decreases”. The shift towards saving has become noticeable in this pandemic as workers receive furlough payments but either cannot or do not want to fully spend them. In another Japanese link the Italians have a strong savings culture.
Retail Sales
For all their faults retail sales give us a clue towards consumption data which we expect to be the driver of the hoped for recovery so here is Tuesdays update on this.
In May 2020 estimates for value of seasonally adjusted retail trade index rose by 24.3% in the month on month series, after plummeting at record levels in March and April, due to restrictions and temporary closure of stores during Covid-19 pandemic. Likewise, volume of sales grew by 25.2% when compared to the previous month. Therefore, estimates seems to confirm that retail trade reached a turning point in the Covid-19 crisis in April 2020 and partially started to recover from the loss in May 2020.
A not unexpected bounce as lockdown restrictions were eased but sadly we get a better perspective from the annual and quarterly comparison.
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espite the increase in the month on month series, the underlying pattern in the three months to May 2020 shows a decline, as both value and volume of sales fell by 20.6% and 21.8% respectively. When compared with May 2019, the value of sales dropped by 10.5% and the volume was down 11.9% Comparing with the same month a year earlier, large-scale distribution fell by 4.4%, small-scale distribution decreased by 18.8% and non-store sales was down 23.0%. Notwithstanding the fall, these channels of distribution show a reduction of the year on year loss recorded in the two previous months.
By non-store sales they do not mean online which rose by 42%. The area hardesr affected has been clothing and footwear which saw falls of between 35 and 38 per cent depending which category you choose.
The Banks
A familiar topic on here, so let us open with a positive for their balance sheets
According to preliminary estimates, in the first quarter of 2020 the HPI (see Italian IPAB) increased by 0.9% compared with the previous quarter and by 1.7% compared with the same quarter of the previous year (it was +0.2% in the fourth quarter of 2019). The increase on annual basis of HPI, the largest since the second quarter of 2011,
In ordinary times that would have the Governor of the Bank of Italy sending a Grazi note to Mario Draghi as he searches the official wne cellar for his favourite Chianti. But of course Mario has departed and so has any thoughts of house price growth looking ahead.
Much less positive has been the role of the banking sector in supporting business as this recent Bank of Italy working paper highlights.
Approximately 40 per cent of the decline in the stock of business loans after the financial crisis can be attributed to supply factors. Banks that had less liquidity, a riskier business model and were more connected to other financial players (because they belonged to a group) were also a potentially less stable source of funding for firms. Bank capital and the funding mix seemed to play no significant role.
That reminds us of a past issue the amount of bad or sour loans which is about to return. Frankly the one hope here is that the burden gets shifted to the taxpayer. From an Italian point of view they would prefer this to be a Euro area one preferably the sort of Special Purpose Vehicle which does nor raise the national debt. Well until Eurostat tells them it does anyway.
Comment
The Italian situation is a curious type of turning Japanese as in many ways it is heading for an inferior version. I recall noting the issue of The Mafia and virgin olive oil which usally wasn’t and now I note reports of it being involved in the Italian hospital sector. Japan also has organised crime but The Yakuza do not seem to be on the same scale.
Even this weeks forecast from the European Commission has struggled to find much positive here.
Output losses in the first two quarters are likely to be larger than assumed in spring, with real GDP forecast to
fall by 11¼ % this year. In 2021, the expansion will shift from a technical rebound to a more genuine recovery.
In addition, the quarterly profile over 2020 implies a substantial carry-over effect, contributing sizeably to
annual average output growth of 6% in 2021. However, real GDP is not expected to return to its 2019 level by
the end of 2021.
It is not so go when you are relying on carry-over effects rather than genuine growth and even with them only about half of the decline will be regained which makes the last sentence both odd and otiose. I do not quote the forecast because I think it will be accurate but because even the European Commission cannot find part one of Reasons To Be Cheerful, let alone the next two.


investmentwatchblog--2020-07-09--Chinese government on the brink? Bubonic plague next? Financial reset happening?

Forget about the Fauci-Lieber-Wuhan-Baal Gates virus scam-/plan-demic… now it ’ s the bubonic plague in China :

Forget about the Fauci-Lieber-Wuhan-Baal Gates virus scam-/plan-demic… now it’s the bubonic plague in China:
We are primarily funded by readers. Please subscribe and donate to support us!
www.rt.com/news/493871-china-…


investmentwatchblog--2020-07-09--VIDEO: Fifth Avenue now closed in front of Trump Tower as the painting of a #BLM mural will begin on

VIDEO: Fifth Avenue now closed in front of Trump Tower as the painting of a #BLM mural will begin on the street today

Fifth Avenue now closed in front of Trump Tower as the painting of a # BLM mural will begin on @ @ @ @ @

Fifth Avenue now closed in front of Trump Tower as the painting of a #BLM mural will begin on the street today. pic.twitter.com/ycC6TCozE9
— Disclose.tv 🚨 (@disclosetv) July 9, 2020