investmentwatchblog--2020-08-22--Why “Price Stability” Policies Fail

Why “Price Stability” Policies Fail

One of the duties that a central bank is expected to fulfill is to keep the general level of prices in the economy stable .
The whole idea of price stability originates from the view that volatile changes in the price level prevent individuals from clearly seeing market signals as conveyed by the changes in the relative prices of goods and services .
For instance , as a result of an increase in the demand for apples relative to potatoes , the prices of apples increases relative to the prices of potatoes .
This relative price increase pushes businesses to @ @ @ @ @ @ @ .
In being able to observe and respond to market signals as conveyed by changes in relative prices , businesses are said to be in tune with market wishes and therefore to be promoting an efficient allocation of resources .
As long as the rate of increase in the general price level is stable and predictable , individuals can identify changes in relative prices and thus maintain the efficient allocation of resources , so it is held .
However , when the rate of increase in the price level is unexpected , it @ @ @ @ @ @ @ relative price changes of goods and services .
This makes it much harder for people to clearly observe market signals , leading to the misallocation of resources and a loss of real wealth .
In this way of thinking changes in the price level are not related to changes in relative prices .
Unstable changes in the price level only obscure but do not affect the relative changes in the prices of goods and services .
So if somehow one could prevent the price level from obscuring market signals obviously this would lay @ @ @ @ @ @ @ Ideas about the Neutrality of Money At the root of price stabilization policies is the view that money is neutral .
Changes in money only have an effect on the price level while having no effect whatsoever on the real economy .
For instance , if one apple exchanges for two potatoes , then the price of an apple is two potatoes , or the price of one potato is half an apple .
Now , if one apple exchanges for one dollar , then it follows that the price of a potato @ @ @ @ @ @ @ of money does not alter the fact that the relative price of potatoes versus apples is two to one .
The seller of an apple will get one dollar for it , which in turn will enable him to purchase two potatoes . )
An increase in the quantity of money leads to a proportionate fall in its purchasing power , i.e.
, a rise in the price level , while a fall in the quantity of money results in a proportionate increase in the purchasing power of money , i.e.
, a @ @ @ @ @ @ @ of that , according to this way of thinking , alters the fact that one apple is exchanged for two potatoes , all other things being equal .
Let us assume that the amount of money has doubled and as a result the purchasing power of money has been halved , or the price level has doubled .
This means that now one apple can be exchanged for two dollars and one potato for one dollar .
Note that despite the doubling in prices , a seller of an apple can still purchase @ @ @ @ @ @ @ We have here a total separation between changes in the relative prices of goods ( how many apples exchanged for a potato ) and the changes in the price level .
Therefore , it would appear that the only problem with changes in the price level—also labeled as inflation—is that it can obscure the movements of relative prices of goods if it is unstable , thereby causing a misallocation of resources .
Other than that , inflation is harmless .
In reality , though , this way of thinking is problematic .
Why @ @ @ @ @ @ @ is injected there are always first recipients of the newly injected money who benefit from this injection .
The first recipients , with more money at their disposal , can now acquire a greater amount of goods while the prices of these goods are still unchanged .
As money starts to move around , the prices of goods begin to rise .
Consequently , the late receivers benefit to a lesser extent from monetary injections , or may even find that most prices have risen so much that they can now afford fewer @ @ @ @ @ @ @ lead to a redistribution of real wealth from later recipients or nonrecipients of money to the earlier recipients .
Obviously , this shift in real wealth alters individuals ’ demand for goods and services and in turn alters the relative prices of goods and services .
Changes in money supply set in motion new dynamics that give rise to changes in demand for goods and to changes in their relative prices .
Hence , changes in money supply can not be neutral as far as the relative prices of goods are concerned .
@ @ @ @ @ @ @ t Be Established Conceptually Moreover , the whole idea of the general purchasing power of money and hence the price level can not even be established conceptually .
When one dollar is exchanged for one loaf of bread we can say that the purchasing power of $ 1 is one loaf of bread .
If one dollar is exchanged for two tomatoes then this also means that the purchasing power of one dollar is two tomatoes .
The information regarding the specific purchasing power of money does not , however , allow for @ @ @ @ @ @ @ of money .
It is not possible to ascertain the total purchasing power of money , because we can not add up two tomatoes and one loaf of bread .
We can only establish the purchasing power of money with respect to a particular good in a transaction at a given point in time and at a given place .
On this Rothbard wrote in Man , Economy , and State , Now , the Fed ’ s monetary policy that aims at stabilizing the price level by implication affects the growth rate @ @ @ @ @ @ @ money supply are not neutral , this means that a central bank policy amounts to the tampering with relative prices , which leads to the disruption of the efficient allocation of resources .
As a result , a policy of stabilizing prices leads to overproduction of some goods and underproduction of other goods .
This is , however , not what the stabilizers are telling us , for they believe that the greatest merit of stabilizing changes in the price level is that it allows transparent fluctuations in the relative prices , which @ @ @ @ @ @ @ of scarce resources .

One of the duties that a central bank is expected to fulfill is to keep the general level of prices in the economy stable. The whole idea of price stability originates from the view that volatile changes in the price level prevent individuals from clearly seeing market signals as conveyed by the changes in the relative prices of goods and services.
For instance, as a result of an increase in the demand for apples relative to potatoes, the prices of apples increases relative to the prices of potatoes. This relative price increase pushes businesses to lift the production of apples versus potatoes.
In being able to observe and respond to market signals as conveyed by changes in relative prices, businesses are said to be in tune with market wishes and therefore to be promoting an efficient allocation of resources.
As long as the rate of increase in the general price level is stable and predictable, individuals can identify changes in relative prices and thus maintain the efficient allocation of resources, so it is held.
However, when the rate of increase in the price level is unexpected, it tends to obscure the visibility of the relative price changes of goods and services. This makes it much harder for people to clearly observe market signals, leading to the misallocation of resources and a loss of real wealth.
In this way of thinking changes in the price level are not related to changes in relative prices. Unstable changes in the price level only obscure but do not affect the relative changes in the prices of goods and services. So if somehow one could prevent the price level from obscuring market signals obviously this would lay the foundation for economic prosperity.
Popular Ideas about the Neutrality of Money
At the root of price stabilization policies is the view that money is neutral. Changes in money only have an effect on the price level while having no effect whatsoever on the real economy.
For instance, if one apple exchanges for two potatoes, then the price of an apple is two potatoes, or the price of one potato is half an apple. Now, if one apple exchanges for one dollar, then it follows that the price of a potato is fifty cents. (The introduction of money does not alter the fact that the relative price of potatoes versus apples is two to one. The seller of an apple will get one dollar for it, which in turn will enable him to purchase two potatoes.)
An increase in the quantity of money leads to a proportionate fall in its purchasing power, i.e., a rise in the price level, while a fall in the quantity of money results in a proportionate increase in the purchasing power of money, i.e., a fall in the price level. None of that, according to this way of thinking, alters the fact that one apple is exchanged for two potatoes, all other things being equal.
Let us assume that the amount of money has doubled and as a result the purchasing power of money has been halved, or the price level has doubled. This means that now one apple can be exchanged for two dollars and one potato for one dollar. Note that despite the doubling in prices, a seller of an apple can still purchase two potatoes with two dollars obtained.
We have here a total separation between changes in the relative prices of goods (how many apples exchanged for a potato) and the changes in the price level. Therefore, it would appear that the only problem with changes in the price level—also labeled as inflation—is that it can obscure the movements of relative prices of goods if it is unstable, thereby causing a misallocation of resources. Other than that, inflation is harmless. In reality, though, this way of thinking is problematic.
Why Money Is Not Neutral
When new money is injected there are always first recipients of the newly injected money who benefit from this injection. The first recipients, with more money at their disposal, can now acquire a greater amount of goods while the prices of these goods are still unchanged.
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As money starts to move around, the prices of goods begin to rise. Consequently, the late receivers benefit to a lesser extent from monetary injections, or may even find that most prices have risen so much that they can now afford fewer goods.
Increases in the money supply lead to a redistribution of real wealth from later recipients or nonrecipients of money to the earlier recipients. Obviously, this shift in real wealth alters individuals’ demand for goods and services and in turn alters the relative prices of goods and services.
Changes in money supply set in motion new dynamics that give rise to changes in demand for goods and to changes in their relative prices. Hence, changes in money supply cannot be neutral as far as the relative prices of goods are concerned.
The Purchasing Power of Money Can’t Be Established Conceptually
Moreover, the whole idea of the general purchasing power of money and hence the price level cannot even be established conceptually.
When one dollar is exchanged for one loaf of bread we can say that the purchasing power of $1 is one loaf of bread. If one dollar is exchanged for two tomatoes then this also means that the purchasing power of one dollar is two tomatoes. The information regarding the specific purchasing power of money does not, however, allow for the establishment of the total purchasing power of money.
It is not possible to ascertain the total purchasing power of money, because we cannot add up two tomatoes and one loaf of bread. We can only establish the purchasing power of money with respect to a particular good in a transaction at a given point in time and at a given place.
On this Rothbard wrote in Man, Economy, and State,
Since the general exchange-value, or PPM (purchasing power of money), of money cannot be quantitatively defined and isolated in any historical situation, and its changes cannot be defined or measured, it is obvious that it cannot be kept stable. If we do not know what something is, we cannot very well act to keep it constant. (p. 743)
Now, the Fed’s monetary policy that aims at stabilizing the price level by implication affects the growth rate of money supply. Since changes in money supply are not neutral, this means that a central bank policy amounts to the tampering with relative prices, which leads to the disruption of the efficient allocation of resources.
As a result, a policy of stabilizing prices leads to overproduction of some goods and underproduction of other goods. This is, however, not what the stabilizers are telling us, for they believe that the greatest merit of stabilizing changes in the price level is that it allows transparent fluctuations in the relative prices, which in turn lead to the efficient allocation of scarce resources.


Eviction Crisis Coming?

Many people stopped making money because of the pandemic , and are depending on unemployment benefits plus the federal eviction moratorium to prevent them from losing their homes .
The CARES act that was passed in March banned evictions until July 24 .
Landlords need to give their tenants a 30 days notice before they can officially file for eviction .
That means that the earliest eviction notices can come next Monday , August 24 .
Trump signed an executive order which covered an extension of the federal eviction moratorium and extended unemployment benefits of $ 300 per week .
@ @ @ @ @ @ @ order shows that it may not prevent evictions , since it implies that evictions can only be halted if those evictions will cause further spread of COVID-19 : ” The Secretary of Health and Human Services and the Director of CDC shall consider whether any measures temporarily halting residential evictions of any tenants for failure to pay rent are reasonably necessary to prevent the further spread of COVID-19 from one State or possession into any other State or possession .
” Some states have made their own eviction moratoriums , but there are @ @ @ @ @ @ @ Only a few states have been approved for the extended unemployment benefits , and some have declined it all together .
Here ’ s a list of the states that do not have eviction moratoriums , along with the percentage of renters at risk of eviction in that state , and the status of the unemployment benefit extension : Evictions on this scale could have a big impact , on the optimism of the economic recovery , on social unrest , on the election outcome , etc .
etc .
TLDR : Evictions @ @ @ @ @ @ @ moratorium on evictions expires , along with EI benefits .
Executive order does not explicitly stop evictions from happening .
Can have big economic , social , political impacts .
Disclaimer : This information is only for educational purposes .
Do not make any investment decisions based on the information in this article .
Do you own due diligence or consult your financial professional before making any investment decision .

by d_kab1
Many people stopped making money because of the pandemic, and are depending on unemployment benefits plus the federal eviction moratorium to prevent them from losing their homes. The CARES act that was passed in March banned evictions until July 24. Landlords need to give their tenants a 30 days notice before they can officially file for eviction. That means that the earliest eviction notices can come next Monday, August 24.
Trump signed an executive order which covered an extension of the federal eviction moratorium and extended unemployment benefits of $300 per week. However, the wording of the executive order shows that it may not prevent evictions, since it implies that evictions can only be halted if those evictions will cause further spread of COVID-19:
” The Secretary of Health and Human Services and the Director of CDC shall consider whether any measures temporarily halting residential evictions of any tenants for failure to pay rent are reasonably necessary to prevent the further spread of COVID-19 from one State or possession into any other State or possession. ”
Some states have made their own eviction moratoriums, but there are still many which haven’t. Only a few states have been approved for the extended unemployment benefits, and some have declined it all together. Here’s a list of the states that do not have eviction moratoriums, along with the percentage of renters at risk of eviction in that state, and the status of the unemployment benefit extension:
-Alabama: 42%
-Alaska: 37%
-Arkansas: 37%
-Indiana: 44%
-Iowa: 48% (Approved benefits extension)
-Louisiana: 50%(Approved benefits extension)
-Michigan: 40%
-Mississipi: 55% (Approved benefits extension)
-Nebraska: 35%
-New Hampshire: 34%
-North Carolina: 43%
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-North Dakota: 34%
-Oklahoma: 42% (Approved benefits extension)
-Rhode Island: 35%
-South Carolina: 43%
-South Dakota: 42% (Declined benefits extension)
-Tennessee: 58%
-Texas: 48%
-Utah: 29% (Approved benefits extension)
-West Virginia: 59%
Evictions on this scale could have a big impact, on the optimism of the economic recovery, on social unrest, on the election outcome, etc. etc.
Position: UVXY shares
TLDR: Evictions can start next Monday as the federal moratorium on evictions expires, along with EI benefits. Executive order does not explicitly stop evictions from happening. Can have big economic, social, political impacts.
Sources:
www.cnbc.com/2020/07/27/how-the-eviction-crisis-will-impact-each-state.html
www.cnet.com/personal-finance/the-final-eviction-protection-for-renters-ends-monday-aug-24/
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.


investmentwatchblog--2020-08-22--Love you guys – more than you will ever know – hence the warning. The market is dying.

“ This Is NOT Normal ” : A Stunned Morgan Stanley Says Volumes Are “ Way Beyond Just Low ” While stocks have soared to new all time highs , there has been one aspect about this latest meltup that suggests the rally is built on nothing but hot air ( and trillions in Fed liquidity injections of course ) : the complete lack of volume , prompting some to wonder if the Fed has finally succeeded in ‘ killing ’ the market .
And sure enough , as Morgan Stanley ’ s Rob Cronin writes in an overnight note @ @ @ @ @ @ @ August lull in liquidity.
” The MS team points out that volumes across almost all products are way below historic seasonal averages .
Which is bizarre because this is on the back of the highest volume Jan-to-July we have seen since 2010 ( except single name options where volumes were the worst Jan-July since 2010 ) .
As the bank explains , the exaggerated August drop in liquidity ( leading to higher impact costs ) is driven by : • large amounts of trading behind us in 2020 • in options , vol @ @ @ @ @ @ @ directional funds .
The exception is cash equities where volumes are only slightly below August norms , bid/offer spreads are not wide and data shows more intraday trading vs. closing auction use than normal – indicative of more active trading in single names , which in turn suggests that retail trading remains solid .
The rest of August is likely to remain subdued as seasonally volumes are unlikely to pick up until the first week of September .
Below we republish key excerpts from the MS note : We look at liquidity across @ @ @ @ @ @ @ from Aug 1st to 18th from 2010 to now .
• Over the last 10Y , SX5E futures would typically have traded an average ~ $ 41bn a day so far in August .
This year it ’ s just $ 29bn ( -28 % lower than normal August levels ) .
• SX5E index options traded an average of just 639k contracts/day so far in August , –48 % below normal levels .
20d volumes this low were last seen in 2013 .
• From 1st to 18th August 2019 , SX5E @ @ @ @ @ @ @ year it ’ s just $ 84m ( -62 % vs. normal Aug levels ) .
Cash equities stands out as being more ‘ normal ’ , registering volumes that are only slightly below historic norms for this time of year .
SX5E traded on average $ 12bn/day in August ( -10 % below seasonal norms ) and SXXP traded $ 39bn ( -4 % below seasonal norms ) .
Chart on the left breaks out SX5E futs vs. cash volumes ( the cash volumes include data across all execution venues ) .
@ @ @ @ @ @ @ volumes is more pronounced as cash .
Chart on the right shows the volume difference from Aug 1st to 18th of 2020 vs. the average of the same period of the last 10Y .
The actual ADV for this year is marked on each bar .
Again , you can see here the relatively better cash volumes vs. other products for this timeWith the exception of dividend futures ( where notional traded is typically < 0.5 % of equity futs ) , the biggest seasonal drop in volumes has come in SX5E index @ @ @ @ @ @ @ levels last seen in 2013 ( left chart below ) .
In the last 5 days , we traded $ 5bn of combined put/call delta per day vs. ~ $ 12bn/day 5Y average .
Over-writing programs appear as active as ever , but non-directional volatility selling strategies ( var sellers ) and directional option users are less active .
Single name options had the WORST Jan-July of volumes since 2010 – totally at odds with other asset classes .
In March , the ratio of notional SX5E index option notional volume traded vs. @ @ @ @ @ @ @ 37x – a 10Y high ( we have adjusted the SX5E single name basket to allow for index rebals through time ) .
The ratio has since fallen to 15x ( right chart below ) driven by the drop in index .
Both SNO and index option volumes are < 1st % -ile vs. 2010 .
Separately , MS also notes that in Q1 2020 , bid offer spreads in cash hit new highs .
The average SX5E name traded ~12bps wide at their worst ( vs. Jan 1st level of 3bps ) @ @ @ @ @ @ @ traded as high as 32bps wide ( vs. Jan 1st level of 12bps ) .
The good news is that spreads have tightened by ~80 % since with the indices now trading 4bps and 15bps wide respectively , which is a “ sign of normality in cash ” , at least until the next time the market goes bidless .
Finally , at the SX5E/SXXP level , use of the closing auction has fallen sharply in the last month .
It ’ s likely that those trading cash equities are more active/intraday players @ @ @ @ @ @ @ fact that key cyclical sectors are seeing the least use of the auction over the last week ( Banks use is just 13 % , 1st percentile vs. 2012 ) .
Summary – The ‘ market ’ is an illusion .
Lots of option trading but no one buying stonks with cash .
I.e .
putting their dicks on the table .
Prices being driven up daily to fantastic new highs .
No one is selling .
Part is FOMO paralysis , but much is institutional investors whose behaviour is formulaic , not @ @ @ @ @ @ @ So doing nothing .
Look , a ‘ normal , healthy ‘ market has bulls and gay bears .
Ying and Yang .
Real money going in to buy and hold , real money flowing out to other things .
Right now is a terribly easy market to pump and dump .
No depth .
A purple market .
A corn market .
Corn !
!
!
?
The market right now is vapour .
The Fed IS the market .
Do you trust the Fed ?
Sure , the merry go round @ @ @ @ @ @ @ knows ?
TLDR : The party is over .
Like many I lost the window of opportunity between March and July .
Could kick myself .
Do not keep profits in your brokerage account .
If markets crash , they will freeze .
Disclaimer : This information is only for educational purposes .
Do not make any investment decisions based on the information in this article .
Do you own due diligence or consult your financial professional before making any investment decision .

by Bellweirboy
“This Is NOT Normal”: A Stunned Morgan Stanley Says Volumes Are “Way Beyond Just Low”
While stocks have soared to new all time highs, there has been one aspect about this latest meltup that suggests the rally is built on nothing but hot air (and trillions in Fed liquidity injections of course): the complete lack of volume, prompting some to wonder if the Fed has finally succeeded in ‘killing’ the market. And sure enough, as Morgan Stanley’s Rob Cronin writes in an overnight note, “this is NOT a typical August lull in liquidity.”
The Market Has Died
The MS team points out that volumes across almost all products are way below historic seasonal averages. Which is bizarre because this is on the back of the highest volume Jan-to-July we have seen since 2010 (except single name options where volumes were the worst Jan-July since 2010). As the bank explains, the exaggerated August drop in liquidity (leading to higher impact costs) is driven by:
large amounts of trading behind us in 2020 spot level in equities ~65% recovered in options, vol levels are still too high for many directional funds.
The exception is cash equities where volumes are only slightly below August norms, bid/offer spreads are not wide and data shows more intraday trading vs. closing auction use than normal – indicative of more active trading in single names, which in turn suggests that retail trading remains solid. The rest of August is likely to remain subdued as seasonally volumes are unlikely to pick up until the first week of September.
Below we republish key excerpts from the MS note:
We look at liquidity across 6 products and compare average volumes traded from Aug 1st to 18th from 2010 to now.
Over the last 10Y, SX5E futures would typically have traded an average ~$41bn a day so far in August. This year it’s just $29bn (- 28% lower than normal August levels ).
). SX5E index options traded an average of just 639k contracts/day so far in August, – 48% below normal levels. 20d volumes this low were last seen in 2013.
20d volumes this low were last seen in 2013. From 1st to 18th August 2019, SX5E dividend futures traded $380m/day – this year it’s just $84m (-62% vs. normal Aug levels).
Cash equities stands out as being more ‘normal’, registering volumes that are only slightly below historic norms for this time of year. SX5E traded on average $12bn/day in August (-10% below seasonal norms) and SXXP traded $39bn (-4% below seasonal norms).
Chart on the left breaks out SX5E futs vs. cash volumes (the cash volumes include data across all execution venues). We can see the drop in futures volumes is more pronounced as cash. Chart on the right shows the volume difference from Aug 1st to 18th of 2020 vs. the average of the same period of the last 10Y. The actual ADV for this year is marked on each bar. Again, you can see here the relatively better cash volumes vs. other products for this timeWith the exception of dividend futures (where notional traded is typically <0.5% of equity futs), the biggest seasonal drop in volumes has come in SX5E index options where 20d MA volumes just hit levels last seen in 2013 (left chart below). In the last 5 days, we traded $5bn of combined put/call delta per day vs. ~$12bn/day 5Y average. Over-writing programs appear as active as ever, but non-directional volatility selling strategies (var sellers) and directional option users are less active.
We are primarily funded by readers. Please subscribe and donate to support us!
Single name options had the WORST Jan-July of volumes since 2010 – totally at odds with other asset classes. In March, the ratio of notional SX5E index option notional volume traded vs. notional traded in SX5E single names reached 37x – a 10Y high (we have adjusted the SX5E single name basket to allow for index rebals through time). The ratio has since fallen to 15x (right chart below) driven by the drop in index. Both SNO and index option volumes are <1st %-ile vs. 2010.
Separately, MS also notes that in Q1 2020, bid offer spreads in cash hit new highs. The average SX5E name traded ~12bps wide at their worst (vs. Jan 1st level of 3bps) while the Small Cap SCXP index names traded as high as 32bps wide (vs. Jan 1st level of 12bps). The good news is that spreads have tightened by ~80% since with the indices now trading 4bps and 15bps wide respectively, which is a “sign of normality in cash”, at least until the next time the market goes bidless.
Finally, at the SX5E/SXXP level, use of the closing auction has fallen sharply in the last month. It’s likely that those trading cash equities are more active/intraday players. This is supported further by the fact that key cyclical sectors are seeing the least use of the auction over the last week (Banks use is just 13%, 1st percentile vs. 2012).
Summary – The ‘market’ is an illusion. Lots of option trading but no one buying stonks with cash. I.e. putting their dicks on the table. Prices being driven up daily to fantastic new highs. No one is selling. Part is FOMO paralysis, but much is institutional investors whose behaviour is formulaic, not knowing what the hell to do. So doing nothing.
Look, a ‘normal, healthy‘ market has bulls and gay bears. Ying and Yang. Real money going in to buy and hold, real money flowing out to other things. Right now is a terribly easy market to pump and dump. No depth. A purple market. A corn market. Corn!!!?
The market right now is vapour. The Fed IS the market. Do you trust the Fed? Sure, the merry go round could continue for some time. Who knows?
TLDR: The party is over. Like many I lost the window of opportunity between March and July. Could kick myself. Do not keep profits in your brokerage account. If markets crash, they will freeze.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.


investmentwatchblog--2020-08-22--Tesla Market Cap $383 Billion. P/E Ratio Over 1000. Systemic Risk is More Mispriced Than Anytime in

Tesla Market Cap $383 Billion. P/E Ratio Over 1000. Systemic Risk is More Mispriced Than Anytime in History.

Tesla has soared 50 % since announcing its stock split — last week New York ( CNN Business ) Tesla is preparing to split its stock , making it more affordable for average investors .
It may need to do another one pretty soon if its shares keep surging.Tesla ( TSLA ) has skyrocketed 50 % since announcing the stock split on August 11 .
It now trades at nearly $ 2,100 a share.Once the split goes into effect on August 31 , current Tesla investors will get five shares for each one they own .
That will cut the @ @ @ @ @ @ @ $ 420 a share .
The market value of Tesla , now hovering around $ 390 billion , will remain the same.But does Tesla deserve to trade at such a high valuation ?
While the Elon Musk-led company is generating consistent profits , its sales are dwarfed by the major auto giants.Tesla is expected to generate nearly $ 30 billion in annual revenue this year .
That ’ s nothing to sneeze at .
But Fiat Chrysler ( FCAU ) is estimated to report $ 100 billion in sales for 2020 .
GM @ @ @ @ @ @ @ ) are each forecast to post annual revenue of more than $ 110 billion.Still , Tesla ’ s market value is now more than four times the combined market caps of Detroit ’ s Big 3 .
The author of the best-selling book “ Rich Dad , Poor Dad , ” explained this week a “ major banking crisis is coming fast .
”

Tesla mkt cap $383 billion. P/E ratio over 1000. — Ronnie C (@RonnieChopra1) August 21, 2020
Systemic Risk is More Mispriced Than Anytime in History. We Saw It Proven in March. Now We Are In A Systemic Freefall. All That is Left Is The Collapse. — Paranoid Bull (@paranoidbull) August 21, 2020
Tesla has soared 50% since announcing its stock split — last week
New York (CNN Business)Tesla is preparing to split its stock, making it more affordable for average investors. It may need to do another one pretty soon if its shares keep surging.Tesla (TSLA) has skyrocketed 50% since announcing the stock split on August 11. It now trades at nearly $2,100 a share.Once the split goes into effect on August 31, current Tesla investors will get five shares for each one they own. That will cut the price by a fifth, to almost $420 a share. The market value of Tesla, now hovering around $390 billion, will remain the same.But does Tesla deserve to trade at such a high valuation? While the Elon Musk-led company is generating consistent profits, its sales are dwarfed by the major auto giants.Tesla is expected to generate nearly $30 billion in annual revenue this year. That’s nothing to sneeze at. But Fiat Chrysler (FCAU) is estimated to report $100 billion in sales for 2020. GM (GM) and Ford (F) are each forecast to post annual revenue of more than $110 billion.Still, Tesla’s market value is now more than four times the combined market caps of Detroit’s Big 3.
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Rich Dad, Poor Dad Author Says ‘Major Banking Crisis Coming,’ Praises Bitcoin and Gold
The author of the best-selling book “Rich Dad, Poor Dad,” explained this week a “major banking crisis is coming fast.”
DDTG ALERT: I’m out on crypto because coins don’t always go up. Stocks on the other hand continue to always go up. pic.twitter.com/8zfOvNqEVX — Dave Portnoy (@stoolpresidente) August 21, 2020
This market is corrupt and everyone who sells is as anything but corrupt. This is public abuse by white collar criminals. Enriching themselves at the expense of the public. Using public funds and undermining democracy and our institutions. They canceled markets and public trust — NA (@nxarria) August 21, 2020


investmentwatchblog--2020-08-23--Tulsi didn’t get invited to DNC despite getting more delegates than Kamala

Anyone still have doubts what agenda DNC has ?
The DNC will invite an Iraq War architect , but not @ @ @ @ @

You're correct – I was not invited to participate in any way. t.co/zQBOQB8Zw7 — Tulsi Gabbard 🌺 (@TulsiGabbard) August 20, 2020
Anyone still have doubts what agenda DNC has? The DNC will invite an Iraq War architect, but not an Iraq War veteran.
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h/t lovelyPinkLipstick


investmentwatchblog--2020-08-23--Gold, Silver & Stock Market Cycles Demand Attention

by Chris Vermeulen of The Technical Traders • With Gold trading above $ 2,000 for the first time and Silver trading near $ 27.50 , you need to understand the risks in the markets that precious metals are warning of .
• If Gold breaks above $ 2,400 , then there is a very real concern that the global markets could be close to some type of decline/collapse event .
• We believe the upside potential in precious metals could drive a very wide sideways market rotation , similar to what happened between 1999 and 2011 , over the next @ @ @ @ @ @ @ .
Over the past few weeks and months , my research team and I have been actively publishing this research to help you better understand what is really happening in the markets right now .
With Gold trading above $ 2,000 for the first time and Silver trading near $ 27.50 , skilled traders need to understand the risks in the markets that precious metals are warning of .
Think of it like this , as long as Gold continues to trade near or above $ 1900 , the risk levels in the @ @ @ @ @ @ @ traders and investors .
If Gold breaks above $ 2,400 , then there is a very real concern that the global markets could be close to some type of decline/collapse event .
My research team believes the US stock market has already peaked near the January/February 2018 market highs .
Our proprietary index analysis and price modeling systems suggest the US stock market has been buoyed by the US Federal Reserve stimulus and foreign capital inflows ( investment ) while the US Dollar has strengthened .
This trend may continue for a number @ @ @ @ @ @ @ metals are already warning that real fear has accelerated to levels we ’ ve not seen since 2010~2011 .
Our analysis is a result of a series of research reports we have recently published , including our Special Alert that points to a massive dual head-and-shoulders set up taking place today .
You should also check out our price forecasts for Gold and Silver as well as our examination of the economic reality and review of DOW futures , which all support the broad conclusions we are making here .
We believe the @ @ @ @ @ @ @ a very wide sideways market rotation , very similar to what happened between 1999 and 2011 , over the next 3+ years that may catch many skilled traders and investors off-guard .
Historically , when the stock market rallies in a speculative mode , like we saw in 1997~1999 , a price bubble forms as speculators and retail traders pile into the hot trades with a “ fear of missing out ” ( FOMO ) belief .
This process drives price levels to extreme highs and creates an elevated level of fear by @ @ @ @ @ @ @ this type of event before .
We are going to show you a price cycle event that takes place between the SPX500 , Gold and the relationship between these two symbols .
The first setup , entitled ‘ A-Setup ’ on the chart below , took place over 11+ years at a time when stagflation had taken a toll on the US economy in the late 70s and early 80s .
The growth of the SPX500 throughout the 1990s was impressive – well over 580 % from 1987 .
The recent growth of @ @ @ @ @ @ @ is just over 400 % and has recently rotated in a volatile sideways price correction related to the COVID-19 virus event representing a nearly 36 % correction .
Back in 1998 , a similar type of correction happened just before the peak in the markets where the SPX500 corrected nearly 23 % , recovered very quickly and rallied from those lows another +66 % before peaking in January 2000 .
Be sure to sign up for our free market trend analysis and signals now so you don ’ t miss our next special @ @ @ @ @ @ @ ” represents a longer-term price setup that represents a price bubble and investor fear balancing out greed and risk as price levels extend into the stratosphere .
We believe a similar cycle setup has completed whereas the first contraction wave , prompting a strong rise in precious metals prices , has completed while the SPX500 attempts a FOMO driven final rally attempt .
If our research is correct , precious metals will break higher as risk outweighs greed over the next few weeks and months – likely pushing the SPX500 lower and resulting @ @ @ @ @ @ @ the SPX500/Gold ratio .
Very similar to what happened after the peak in 2000 .
This downside correlative event will work to address the price bubble and to revalue the US stock market near levels that provide a resurgence in organic growth .
The excesses of the global markets were reduced to critical valuation levels by this process where the organic economy recovered enough to drive future growth , Just like what happened in 2004 through 2011~12 .
The difference this time ( B-Setup ) is we believe the cycle is operating at @ @ @ @ @ @ @ cycle that took place between 1988 and 2000 .
Therefore , we believe the cycle will be 1.5x to 2.0x more volatile .
We urge traders to stay very cautious of the markets right now .
Even though it appears that the recovery is strengthening and the stock market level is at , or near , all-time highs , warning signs are everywhere if you are paying attention .
A recent article discussing Walmart ’ s earnings release and sales data for August supports the proposition that consumer demand is falling as stimulus @ @ @ @ @ @ @ , Walmart CEO Doug McMillon said : “ My sense is that the order of things , the order of tailwinds that impacted the business were one , stimulus , two , eating at home , three , being at home , and all the things that you wanted to do to have the indoors and outdoors be more pleasurable.
” If you read that statement as we do , the transitional process that took place over the past 4+ months where the US government provided stimulus and unemployment benefits that , for @ @ @ @ @ @ @ than they achieve while working , presented a “ spend-happy ” consumer with lots of free time on their hands .
We believe consumer activity will change dramatically and the economic recovery everyone seems to believe has taken place will settle into more of a “ reality-shock ” , especially since the stimulus and unemployment benefits are being decreased ( or stopped altogether for some ) , evictions and mortgage foreclosures are starting to process , and we leave the Summer season and move into Fall/Winter .
Additionally , world trade data suggests @ @ @ @ @ @ @ lowest global trade levels since 2010 ( at the bottom of the Credit Crisis ) .
It doesn ’ t take a college degree to figure out that global trade levels that are many standard deviations below the deepest historical levels over the past 10+ years do not settle well with a perception of a strong global recovery and skyrocketing US stock market price levels .
What is says is , “ a speculative price bubble has exploded as foreign and speculative traders piled into the US Fed stimulus recovery after March 21 @ @ @ @ @ @ @ rally presents the same type of recovery that took place in late 1999 – just before the bottom fell out of the markets .
If the US stock market follows the 2000 price pattern , then a further upside rally should push price levels above the previous peak levels from February 2020 .
This would prompt many traders and investors to begin leveraging long positions thinking the rally may never end .
Our researchers believe the major Fibonacci Price Amplitude Resistance Arc , highlighted in CYAN on the chart below , will act @ @ @ @ @ @ @ much of the rest of 2020 .
If this resistance level holds and price begins to decline from current levels , then we believe a price bottom will setup in late 2021 or early 2022 ( similar to the 2002 price bottom ) .
Of course , that leads to the question “ will there be a repeat of the 2008-09 peak and subsequent price collapse ?
” .
At this point , we ’ re not certain of any event that far out into the future – but our cycles suggest 2023~2025 @ @ @ @ @ @ @ in the markets .
Stay cautious right now .
If our research is correct , Gold and Silver will continue to rally as fear drives the B-Setup further into completion .
Volatility should begin to increase and we expect more a more difficult recovery to take place over the next 12+ months .
We still have quite a bit of collateral damage to process through the economy and we need to get our economy functioning again so we can get people back to work , increase consumption , and strengthen global trade .
@ @ @ @ @ @ @ , not the high flying US stock market , the global markets are simply not supporting this speculative price bubble .
Therefore , we urge you to stay cautious at this time .
Pay very close attention to the risks in the current market so it is important for traders to stay on top of the charts !
There will be very big and incredible opportunities for skilled technical traders over that time .
Learn how we can help you trade and find success in these markets – sign up for my Active @ @ @ @ @ @ @ you have a buy-and-hold account and are looking for technical signals for when to own equities , bonds , or cash , be sure to subscribe to my Passive Long-Term ETF Investing Signals so that you can stay ahead of the markets and rest easy at night !
NOTICE : Our FREE research does not constitute a trade recommendation , investment or financial advice , or solicitation for you or any other reader to take any action regarding this research .
Visit our web site ( www.thetechnicaltraders.com ) to learn how to take @ @ @ @ @ @ @ signals .

by Chris Vermeulen of The Technical Traders
Research Highlights:
With Gold trading above $2,000 for the first time and Silver trading near $27.50, you need to understand the risks in the markets that precious metals are warning of.
If Gold breaks above $2,400, then there is a very real concern that the global markets could be close to some type of decline/collapse event.
We believe the upside potential in precious metals could drive a very wide sideways market rotation, similar to what happened between 1999 and 2011, over the next 3+ years that may catch many off-guard.
Over the past few weeks and months, my research team and I have been actively publishing this research to help you better understand what is really happening in the markets right now. With Gold trading above $2,000 for the first time and Silver trading near $27.50, skilled traders need to understand the risks in the markets that precious metals are warning of. Think of it like this, as long as Gold continues to trade near or above $1900, the risk levels in the global markets are at extreme levels for traders and investors. If Gold breaks above $2,400, then there is a very real concern that the global markets could be close to some type of decline/collapse event.
1990 TO 2010: SIMILARITIES ABOUND
My research team believes the US stock market has already peaked near the January/February 2018 market highs. Our proprietary index analysis and price modeling systems suggest the US stock market has been buoyed by the US Federal Reserve stimulus and foreign capital inflows (investment) while the US Dollar has strengthened. This trend may continue for a number of weeks or months, but precious metals are already warning that real fear has accelerated to levels we’ve not seen since 2010~2011.
Our analysis is a result of a series of research reports we have recently published, including our Special Alert that points to a massive dual head-and-shoulders set up taking place today. You should also check out our price forecasts for Gold and Silver as well as our examination of the economic reality and review of DOW futures, which all support the broad conclusions we are making here.
We believe the upside potential in precious metals could drive a very wide sideways market rotation, very similar to what happened between 1999 and 2011, over the next 3+ years that may catch many skilled traders and investors off-guard. Historically, when the stock market rallies in a speculative mode, like we saw in 1997~1999, a price bubble forms as speculators and retail traders pile into the hot trades with a “fear of missing out” (FOMO) belief. This process drives price levels to extreme highs and creates an elevated level of fear by many experienced traders who have lived through this type of event before.
We are going to show you a price cycle event that takes place between the SPX500, Gold and the relationship between these two symbols. The first setup, entitled ‘A-Setup’ on the chart below, took place over 11+ years at a time when stagflation had taken a toll on the US economy in the late 70s and early 80s. The growth of the SPX500 throughout the 1990s was impressive – well over 580% from 1987.
The recent growth of the SPX500 from the March 2009 lows is just over 400% and has recently rotated in a volatile sideways price correction related to the COVID-19 virus event representing a nearly 36% correction. Back in 1998, a similar type of correction happened just before the peak in the markets where the SPX500 corrected nearly 23%, recovered very quickly and rallied from those lows another +66% before peaking in January 2000.
Be sure to sign up for our free market trend analysis and signals now so you don’t miss our next special report!
We believe the “A-Setup” represents a longer-term price setup that represents a price bubble and investor fear balancing out greed and risk as price levels extend into the stratosphere. We believe a similar cycle setup has completed whereas the first contraction wave, prompting a strong rise in precious metals prices, has completed while the SPX500 attempts a FOMO driven final rally attempt. If our research is correct, precious metals will break higher as risk outweighs greed over the next few weeks and months – likely pushing the SPX500 lower and resulting in a downward correlative price event for the SPX500/Gold ratio. Very similar to what happened after the peak in 2000.
This downside correlative event will work to address the price bubble and to revalue the US stock market near levels that provide a resurgence in organic growth. The excesses of the global markets were reduced to critical valuation levels by this process where the organic economy recovered enough to drive future growth, Just like what happened in 2004 through 2011~12. The difference this time (B-Setup) is we believe the cycle is operating at about 1.3x to 1.5x faster than the cycle that took place between 1988 and 2000. Therefore, we believe the cycle will be 1.5x to 2.0x more volatile.
We are primarily funded by readers. Please subscribe and donate to support us!
We urge traders to stay very cautious of the markets right now. Even though it appears that the recovery is strengthening and the stock market level is at, or near, all-time highs, warning signs are everywhere if you are paying attention. A recent article discussing Walmart’s earnings release and sales data for August supports the proposition that consumer demand is falling as stimulus checks run out. In the article, Walmart CEO Doug McMillon said: “My sense is that the order of things, the order of tailwinds that impacted the business were one, stimulus, two, eating at home, three, being at home, and all the things that you wanted to do to have the indoors and outdoors be more pleasurable.”
If you read that statement as we do, the transitional process that took place over the past 4+ months where the US government provided stimulus and unemployment benefits that, for some, equated to more monthly income than they achieve while working, presented a “spend-happy” consumer with lots of free time on their hands. We believe consumer activity will change dramatically and the economic recovery everyone seems to believe has taken place will settle into more of a “reality-shock”, especially since the stimulus and unemployment benefits are being decreased (or stopped altogether for some), evictions and mortgage foreclosures are starting to process, and we leave the Summer season and move into Fall/Winter.
A BREAKOUT OR BREAKDOWN ?
Additionally, world trade data suggests the global economy has sunk to the lowest global trade levels since 2010 (at the bottom of the Credit Crisis). It doesn’t take a college degree to figure out that global trade levels that are many standard deviations below the deepest historical levels over the past 10+ years do not settle well with a perception of a strong global recovery and skyrocketing US stock market price levels. What is says is, “a speculative price bubble has exploded as foreign and speculative traders piled into the US Fed stimulus recovery after March 21, 2020”. And that speculative rally presents the same type of recovery that took place in late 1999 – just before the bottom fell out of the markets.
If the US stock market follows the 2000 price pattern, then a further upside rally should push price levels above the previous peak levels from February 2020. This would prompt many traders and investors to begin leveraging long positions thinking the rally may never end. Our researchers believe the major Fibonacci Price Amplitude Resistance Arc, highlighted in CYAN on the chart below, will act as a soft ceiling in price throughout much of the rest of 2020. If this resistance level holds and price begins to decline from current levels, then we believe a price bottom will setup in late 2021 or early 2022 (similar to the 2002 price bottom). Of course, that leads to the question “will there be a repeat of the 2008-09 peak and subsequent price collapse?”. At this point, we’re not certain of any event that far out into the future – but our cycles suggest 2023~2025 may set up a major price peak in the markets.
Stay cautious right now. If our research is correct, Gold and Silver will continue to rally as fear drives the B-Setup further into completion. Volatility should begin to increase and we expect more a more difficult recovery to take place over the next 12+ months. We still have quite a bit of collateral damage to process through the economy and we need to get our economy functioning again so we can get people back to work, increase consumption, and strengthen global trade. If you look at the real data, not the high flying US stock market, the global markets are simply not supporting this speculative price bubble. Therefore, we urge you to stay cautious at this time.
Pay very close attention to the risks in the current market so it is important for traders to stay on top of the charts! There will be very big and incredible opportunities for skilled technical traders over that time. Learn how we can help you trade and find success in these markets – sign up for my Active ETF Swing Trade Signals today!
If you have a buy-and-hold account and are looking for technical signals for when to own equities, bonds, or cash, be sure to subscribe to my Passive Long-Term ETF Investing Signals so that you can stay ahead of the markets and rest easy at night!
Stay healthy and safe.
Chris Vermeulen
Chief Market Strategist
Founder of Technical Traders Ltd.
NOTICE: Our FREE research does not constitute a trade recommendation, investment or financial advice, or solicitation for you or any other reader to take any action regarding this research. Visit our web site (www.thetechnicaltraders.com) to learn how to take advantage of our members-only research and trading signals.


investmentwatchblog--2020-08-23--Saudi Arabia’s Crude Oil Exports Dip To Record Low In June

The world ’ s top oil exporter , Saudi Arabia , saw its crude oil exports in June drop to their lowest on record at just below 5 million barrels per day ( bpd ) , as OPEC ’ s de facto leader led efforts from the OPEC+ group to withhold a record amount of crude from the market in response to the crash in demand .
According to data from the Joint Organisations Data Initiative ( JODI ) , Saudi Arabia ’ s crude oil exports plunged by 17.3 percent in June compared to May , to stand at @ @ @ @ @ @ @ year , Saudi crude oil exports have diverged a lot from the latest five-year range , jumping to more than 10 million bpd in April , when the Kingdom made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal .
Saudi Arabia exported a record 10.237 million bpd in April 2020 , up from 7.391 million bpd in March , JODI data showed earlier this year .
In May , Saudi crude oil exports plunged to 6.02 million bpd from more than 10 million @ @ @ @ @ @ @ OPEC+ reached a new deal to prop up the market and erase the glut that was building while global demand was crashing by 20 million bpd in April .
June was also the month in which Saudi Arabia voluntarily slashed its oil production by an additional 1 million bpd on top of the 2.5 million bpd it was supposed to cut .
Total Saudi oil exports , including crude oil and oil products , fell further month-on-month in June – by 1.41 million bpd to 6.07 million bpd , according to the data @ @ @ @ @ @ @ collects self-reported figures from 114 countries .
Despite the easing of the OPEC+ cuts as of August 1 , Saudi Arabia has signaled it would not rush to ramp up its crude oil exports significantly this month .

By Tsvetana Paraskova
The world’s top oil exporter, Saudi Arabia, saw its crude oil exports in June drop to their lowest on record at just below 5 million barrels per day (bpd), as OPEC’s de facto leader led efforts from the OPEC+ group to withhold a record amount of crude from the market in response to the crash in demand.
According to data from the Joint Organisations Data Initiative (JODI), Saudi Arabia’s crude oil exports plunged by 17.3 percent in June compared to May, to stand at 4.98 million bpd.
Since March this year, Saudi crude oil exports have diverged a lot from the latest five-year range, jumping to more than 10 million bpd in April, when the Kingdom made good on its promise to flood the market with oil after the collapse of the previous OPEC+ deal. Saudi Arabia exported a record 10.237 million bpd in April 2020, up from 7.391 million bpd in March, JODI data showed earlier this year.
In May, Saudi crude oil exports plunged to 6.02 million bpd from more than 10 million bpd in the previous month, after OPEC+ reached a new deal to prop up the market and erase the glut that was building while global demand was crashing by 20 million bpd in April.
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June was also the month in which Saudi Arabia voluntarily slashed its oil production by an additional 1 million bpd on top of the 2.5 million bpd it was supposed to cut.
Total Saudi oil exports, including crude oil and oil products, fell further month-on-month in June – by 1.41 million bpd to 6.07 million bpd, according to the data released by the JODI database, which collects self-reported figures from 114 countries.
Despite the easing of the OPEC+ cuts as of August 1, Saudi Arabia has signaled it would not rush to ramp up its crude oil exports significantly this month.
By Tsvetana Paraskova for Oilprice.com


investmentwatchblog--2020-08-23--Tesla Stock Soars Past $2,000 Ahead Of Stock Split

Shares in Tesla ( NASDAQ : TSLA ) jumped by more than 6 percent to close above $ 2,000 on Thursday and were up another 2 % in pre-market trade on Friday , before the deadline for holders of Tesla stock to be eligible to get more shares under a five-for-one split announced earlier this month .
Tesla ’ s stock continued to rise on Friday afternoon , increasing by nearly 4 % by 1pm EDT .
“ Each stockholder of record on August 21 , 2020 will receive a dividend of four additional shares of common stock for each @ @ @ @ @ @ @ close of trading on August 28 , 2020 , ” Tesla said last week , sending the stock rallying on the NASDAQ .
Even before the announced stock split , Tesla ’ s shares had been rallying in the spring and summer , to the point of Elon Musk mocking the short sellers and trolling the SEC in early July .
Later in July , Tesla reported a surprise net profit for the second quarter , beating analyst expectations and reporting its fourth consecutive quarter of net profits , despite factory shutdowns due @ @ @ @ @ @ @ in a row make Tesla now eligible to be considered for inclusion in the S & P 500 Index .
The sales and profit figures , the inclusion in the S & P 500 , the stock split , and the general surge of EV makers ’ stocks in recent months pushed Tesla ’ s share price to new record highs this week .
Tesla ’ s inclusion in the S & P 500 could launch a new wave of buying of Tesla stock from fund managers that track the index and from @ @ @ @ @ @ @ , as carried by The Street .
Year to date , Tesla ’ s shares have soared by 378 percent , while Tesla ’ s stock is now 847 percent more expensive compared to the same time last year .
Tesla ’ s market capitalization of $ 373 billion as of close on Thursday exceeded Walmart ’ s $ 369.8 billion market cap .
Tesla ’ s short sellers also seem to have started to retreat .
The number of shorted Tesla shares has dropped by 2.07 million , or by 16.3 percent @ @ @ @ @ @ @ with shorts down $ 24.7 billion in 2020 mark-to-market losses , Ihor Dusaniwsky , managing director of data from financial analytics firm S3 Partners , tweeted on Thursday .

By Charles Kennedy
Shares in Tesla (NASDAQ: TSLA) jumped by more than 6 percent to close above $2,000 on Thursday and were up another 2% in pre-market trade on Friday, before the deadline for holders of Tesla stock to be eligible to get more shares under a five-for-one split announced earlier this month.
Tesla’s stock continued to rise on Friday afternoon, increasing by nearly 4% by 1pm EDT.
“Each stockholder of record on August 21, 2020 will receive a dividend of four additional shares of common stock for each then-held share, to be distributed after close of trading on August 28, 2020,” Tesla said last week, sending the stock rallying on the NASDAQ.
Even before the announced stock split, Tesla’s shares had been rallying in the spring and summer, to the point of Elon Musk mocking the short sellers and trolling the SEC in early July.
Later in July, Tesla reported a surprise net profit for the second quarter, beating analyst expectations and reporting its fourth consecutive quarter of net profits, despite factory shutdowns due to the pandemic. Four profitable quarters in a row make Tesla now eligible to be considered for inclusion in the S&P 500 Index.
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The sales and profit figures, the inclusion in the S&P 500, the stock split, and the general surge of EV makers’ stocks in recent months pushed Tesla’s share price to new record highs this week.
Tesla’s inclusion in the S&P 500 could launch a new wave of buying of Tesla stock from fund managers that track the index and from passive investors, according to Credit Suisse, as carried by The Street.
Year to date, Tesla’s shares have soared by 378 percent, while Tesla’s stock is now 847 percent more expensive compared to the same time last year.
Tesla’s market capitalization of $373 billion as of close on Thursday exceeded Walmart’s $369.8 billion market cap.
Tesla’s short sellers also seem to have started to retreat. The number of shorted Tesla shares has dropped by 2.07 million, or by 16.3 percent, over the past 30 days, with shorts down $24.7 billion in 2020 mark-to-market losses, Ihor Dusaniwsky, managing director of data from financial analytics firm S3 Partners, tweeted on Thursday.
By Charles Kennedy for Oilprice.com


investmentwatchblog--2020-08-23--Panic in Real Estate

Panic in Real Estate

COMMENT : I live in central West Texas , I am passing on to you the fact that there is a “ rush ” of sales in rural property ’ s .
Houses with small amounts of land attached are “ flying off of the shelves ” so to speak .
This is occurring throughout all of West Texas and in the Panhandle .
The effort to getting out of the cities .
Even cities as small as 25,000 is in full swing !
People are well aware of the potential of what is in the near future and are @ @ @ @ @ @ @ do .
REPLY : There is a massive exodus from California and New York in particular .
Even in North New Jersey , houses are selling in just days and over asking prices for cash .
People are bailing out of New York City in herds .
Here in Florida , condos are selling as fast as they can get them up in St Petersbourg .
These lockdowns and COVID restrictions that are insane in the major cities have set in motion a massive exodus that these authoritarians never anticipated .
As they @ @ @ @ @ @ @ this so draconian over nothing , they are completing the cycle which has been pointing to the collapse of urbanization , and the rich will flee .
One of my favorite stories of the Sovereign Debt Crisis is the City of Mainz , in Germany , around 1440 .
The goldsmith Johannes Gutenberg invented the printing press , .
He began the Printing Revolution that enabled the Renaissance to flourish .
His printing press could produce up to 3,600 pages per workday compared to the hand-copying by scribes which would produce only about @ @ @ @ @ @ @ press then spread within several decades to over two hundred cities in a dozen European countries .
Mainz exploded economically and quickly the politicians were licking their lips with visions of new tax revenue without end .
They began borrowing against future tax revenue since they learned how to spend the money faster than it could be collected .
As the politicians of Mainz kept raising taxes because they could not pay their debts , they began to issue new debt to repay the old as we do today .
Suddenly , they @ @ @ @ @ @ @ as we are witnessing once more .
Then the politicians could not sell new debt to pay for the old and that is when then defaulted .
The Pope excommunicated the politicians for their abuse of Usury and then the creditors simply invaded , sacked the city , burned it to the ground .
No doubt , this is the fate we will face because politicians are driving their car at top speed without a seat-belt and they never checked the tires .
There is a major flight from the cities and we @ @ @ @ @ @ @ in urban centers and suburbia prices are rising as people are paying cash and even over asking prices .

by Martin Armstrong
COMMENT: I live in central West Texas, I am passing on to you the fact that there is a “rush” of sales in rural property’s. Houses with small amounts of land attached are “flying off of the shelves” so to speak. This is occurring throughout all of West Texas and in the Panhandle. The effort to getting out of the cities. Even cities as small as 25,000 is in full swing! People are well aware of the potential of what is in the near future and are not sitting around wondering what they should do.
They are acting!
J
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REPLY: There is a massive exodus from California and New York in particular. Even in North New Jersey, houses are selling in just days and over asking prices for cash. People are bailing out of New York City in herds. Here in Florida, condos are selling as fast as they can get them up in St Petersbourg. These lockdowns and COVID restrictions that are insane in the major cities have set in motion a massive exodus that these authoritarians never anticipated. As they flex their muscles to try to make this so draconian over nothing, they are completing the cycle which has been pointing to the collapse of urbanization, and the rich will flee.
One of my favorite stories of the Sovereign Debt Crisis is the City of Mainz, in Germany, around 1440. The goldsmith Johannes Gutenberg invented the printing press,. He began the Printing Revolution that enabled the Renaissance to flourish. His printing press could produce up to 3,600 pages per workday compared to the hand-copying by scribes which would produce only about 40 pages per day. The printing press then spread within several decades to over two hundred cities in a dozen European countries. Mainz exploded economically and quickly the politicians were licking their lips with visions of new tax revenue without end. They began borrowing against future tax revenue since they learned how to spend the money faster than it could be collected.
As the politicians of Mainz kept raising taxes because they could not pay their debts, they began to issue new debt to repay the old as we do today. Suddenly, they drove people out because of their taxation as we are witnessing once more. Then the politicians could not sell new debt to pay for the old and that is when then defaulted. The Pope excommunicated the politicians for their abuse of Usury and then the creditors simply invaded, sacked the city, burned it to the ground. No doubt, this is the fate we will face because politicians are driving their car at top speed without a seat-belt and they never checked the tires.
There is a major flight from the cities and we are witnessing the collapse in real estate in urban centers and suburbia prices are rising as people are paying cash and even over asking prices.


investmentwatchblog--2020-08-23--BLACK CHICAGO RESIDENTS want federal troops sent in as Mayor lets the city descend into a warzone.

Chicago Alderman Raymond Lopez , Democrat , pushes back on mayor Lori Lightfoot ’ s management of Chicago amid uptick @ @ @ @ @ IT ’ S GOOD TO BE THE NOMENKLATURA : Chicago Mayor Defends Policing Double Standard @ @ @ @ @ Right to Make Sure That My Home Is Secure .
’

Chicago Alderman Raymond Lopez, Democrat, pushes back on mayor Lori Lightfoot’s management of Chicago amid uptick in violence. #FoxNews
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IT’S GOOD TO BE THE NOMENKLATURA: Chicago Mayor Defends Policing Double Standard: ‘I Have a Right to Make Sure That My Home Is Secure.’


investmentwatchblog--2020-08-23--Is The Stock Market Now Too Big To Fail?

This week the headlines declared the bear market over as the S & P 500 joined the Nasdaq to make new all time highs .
A new bull market has begun so the celebratory narratives .
It is true these indices have made new all time highs , but the actual market hasn ’ t .
Not even close .
These indices have made new all time highs as 6-7 stocks are experiencing the largest and most aggressive market cap expansion in human history distorting everything .
Yet perception is reality and the bullish narratives keep mounting as key tech @ @ @ @ @ @ @ to the main indices relentlessly drifting higher so let me at least provide some perspective as to what ’ s going on with the larger market .
Firstly note we continue to be in uncharted waters here in terms of the concentration of individual stocks vs GDP as well as the Fed ’ s balance sheet : The first top 5 stocks now represent 25 % of the S & P 500 , a concentration in weighting we ’ ve not seen since 2000 .
The market cap expansions we see on a @ @ @ @ @ @ @ , such as $ AAPL and $ TSLA for example , put even the year 2000 bubble to shame .
Just on Friday $ AAPL added over $ 100B in market cap out of thin air on no fundamentally driven news .
The stock now having added over $ 1.1 trillion in market cap since the March lows .
None of this has even a historic approximate reference point and so one must recognize that this market phase is a unique one on its own .
And of course $ TSLA is the @ @ @ @ @ @ @ : None of these companies have produced results that justify these historic market cap expansions in such a short period of time , but they provide cover for the illusion that the bear market is over and that a new bull market has begun .
There is little doubt these stocks are in a bull market .
I call it a historic bubble , but don ’ t let anyone tell you the “ market ” is in a bull market .
It ’ s not and the value line geometric index shows @ @ @ @ @ @ @ made new highs the $ XVG produced lower highs versus June and remains far below the 2020 highs or the 2018 highs for that matter .
Even in the almighty Nasdaq the internal picture is atrociously crumbling before our very eyes , be it on new high/vs new lows : Or be it on the cumulative advance/decline : Indeed we can observe that the relentless crawl to new highs on the index shows a correction underneath with $ NYMO hitting below -50 while $ SPX closed the week on a new high with @ @ @ @ @ @ @ : Banks dropped over 10 % from the August peak and remain below the December 2018 lows and far below the June highs : No , it ’ s all tech , and select tech at that as investors are relentlessly piling into $ QQQ , an ETF that has a 56 % market cap weighting exposed to just 10 stocks : No , the “ market ” is weak underneath and is more reflective of the reality that 7 stocks and relentless artificial liquidity are masking : This economy is far from @ @ @ @ @ @ @ at an all-time high of 179 % market cap to GDP and the potential fuel of shorts has all but disappeared : Next week Jay Powell , who is personally killing it in this market , will speak at Jackson Hole .
If there is any conscious recognition on his part as to the historic distortions created by his unprecedented liquidity injections shall remain unknown to all of us .
If he has any sense of the enormity of the distortions created he ’ ll aim to softly try to ease participants off @ @ @ @ @ @ @ for fear that a bursting bubble will cause more damage down the road .
But that would require him to not only have cognition of the distortions created , but also take some pain in his personal ETF portfolio .
The obvious conflict of interest appears to be a taboo in the financial media for some reason .
Why not ask him : “ Mr Powell , how much money have you personally made this year as a result of the liquidity injections you have implemented ?
In light of these amounts , @ @ @ @ @ @ @ unemployment benefits , how can you claim the Fed does not contribute to wealth inequality ?
” Let him go on record :

Authored by Sven Henrich via NorthmanTrader.com,
Reality Check
This week the headlines declared the bear market over as the S&P 500 joined the Nasdaq to make new all time highs. A new bull market has begun so the celebratory narratives. It is true these indices have made new all time highs, but the actual market hasn’t. Not even close. These indices have made new all time highs as 6-7 stocks are experiencing the largest and most aggressive market cap expansion in human history distorting everything.
Yet perception is reality and the bullish narratives keep mounting as key tech stocks and their oversized weight are contributing to the main indices relentlessly drifting higher so let me at least provide some perspective as to what’s going on with the larger market.
Firstly note we continue to be in uncharted waters here in terms of the concentration of individual stocks vs GDP as well as the Fed’s balance sheet:
The market cap of just 7 stocks now equals 39% of US GDP.
The balance sheet of the US Fed now equals 36% of US GDP. — Sven Henrich (@NorthmanTrader) August 21, 2020
The first top 5 stocks now represent 25% of the S&P 500, a concentration in weighting we’ve not seen since 2000. The market cap expansions we see on a daily basis in some of these stocks, such as $AAPL and $TSLA for example, put even the year 2000 bubble to shame.
Just on Friday $AAPL added over $100B in market cap out of thin air on no fundamentally driven news. The stock now having added over $1.1 trillion in market cap since the March lows.
None of this has even a historic approximate reference point and so one must recognize that this market phase is a unique one on its own.
And of course $TSLA is the other popular post child of this era:
1 year ago in August 2019 $TSLA was trading as low as $211, now it's trading north of $2,000. — Sven Henrich (@NorthmanTrader) August 20, 2020
None of these companies have produced results that justify these historic market cap expansions in such a short period of time, but they provide cover for the illusion that the bear market is over and that a new bull market has begun. There is little doubt these stocks are in a bull market. I call it a historic bubble, but don’t let anyone tell you the “market” is in a bull market.
It’s not and the value line geometric index shows you this clearly:
While the index made new highs the $XVG produced lower highs versus June and remains far below the 2020 highs or the 2018 highs for that matter.
Even in the almighty Nasdaq the internal picture is atrociously crumbling before our very eyes, be it on new high/vs new lows:
Or be it on the cumulative advance/decline:
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Indeed we can observe that the relentless crawl to new highs on the index shows a correction underneath with $NYMO hitting below -50 while $SPX closed the week on a new high with equal weight deteriorating and volume entirely collapsing:
Banks dropped over 10% from the August peak and remain below the December 2018 lows and far below the June highs:
No, it’s all tech, and select tech at that as investors are relentlessly piling into $QQQ, an ETF that has a 56% market cap weighting exposed to just 10 stocks:
No, the “market” is weak underneath and is more reflective of the reality that 7 stocks and relentless artificial liquidity are masking:
This economy is far from recovered, yet markets are now trading at an all-time high of 179% market cap to GDP and the potential fuel of shorts has all but disappeared:
The most valued market in history, everybody long and the shorts are gone.
Have a good weekend!t.co/2SriTc7ckf pic.twitter.com/i1BPyoYseM — Sven Henrich (@NorthmanTrader) August 21, 2020
Next week Jay Powell, who is personally killing it in this market, will speak at Jackson Hole. If there is any conscious recognition on his part as to the historic distortions created by his unprecedented liquidity injections shall remain unknown to all of us. If he has any sense of the enormity of the distortions created he’ll aim to softly try to ease participants off of the dangerous chase into tech stocks for fear that a bursting bubble will cause more damage down the road. But that would require him to not only have cognition of the distortions created, but also take some pain in his personal ETF portfolio. The obvious conflict of interest appears to be a taboo in the financial media for some reason.
Why not ask him: “Mr Powell, how much money have you personally made this year as a result of the liquidity injections you have implemented? In light of these amounts, while over 28M Americans are still claiming unemployment benefits, how can you claim the Fed does not contribute to wealth inequality?” Let him go on record:
Imagine being in charge of deciding unlimited QE while holding this long index portfolio and then saying the Fed does not increase wealth inequality. pic.twitter.com/m73AsAeZwb — Sven Henrich (@NorthmanTrader) June 12, 2020
I’m sure these 28M Americans would love to know how the Fed is helping them by buying bonds in a $2.1 trillion market cap company. Bottomline: The larger market is struggling, correcting even as the rotation trade once again was left in the dust of another vertical chase into key tech stocks which are now historically overvalued, technically extremely stretched and at ever higher risk of a violent technical reversion. Month end is again approaching and perhaps the rotation trade may once again be a vehicle of choice as these February gaps remain (see also , technically extremely stretched and at ever higher risk of a violent technical reversion. Month end is again approaching and perhaps the rotation trade may once again be a vehicle of choice as these February gaps remain (see also $DJIA and $VIX ). I’ll leave you with a replay of an 30 min interview I recorded this Thursday evening with the folks over at PeakProsperity with my latest views on the current situation: * * * For the latest public analysis please visit NorthmanTrader. To subscribe to our market products please visit Services.


investmentwatchblog--2020-08-23--The first $100,000 is the hardest, Anyone else agree?

• I started my first 401k back around age 26 making $ 9.50 an hour .
I contributed about 3-5 % to get the match .
• Got a job as a Phlebotomist and made around $ 12- $ 14 an hour from say age 28-33 and continued to contribute around 5 % • After about 7 years of this at age 33 my balance was maybe around $ 20,000 or so ( kind of disappointing ) • Age 34 graduated college and got first real job as a medical technologist making $ 24.50 an hour and bumped 403b up @ @ @ @ @ @ @ about $ 27 an hour as Medical Technologist and bumped it up to 15 % contribution limit .
• Age 39 making $ 29 an hour and 15 % contribution I finally hit the $ 100,000 mark in my 403b account .
It took me a good 12-13 years of saving .
• I am now age 41 and first year I moved to San Diego and am going to earn low six figures this year .
I have bumped 403b up to max $ 19,000 per year .
• Age 41.5 ; @ @ @ @ @ @ @ 267,000 .
( around $ 50,000 of that from selling real estate ) I am shocked at how fast the ball gets rolling once you hit that first $ 100,000 balance in your 401k/403b .
I took forever to reach that milestone but once i got there I probably made most of the second 100K in about 2 years compounding interest .
I think it sets something off inside of you where you see that your money can make you more in one great stock market day then you earn at your 9-5 @ @ @ @ @ @ @ .
That is when you really see the value of saving and investing and you normally try to max your contributions at this point no matter the discomfort in doing so .
I could only imagine how fast wealth starts to snowball once you reach $ 1,000,000 and a good 2019 stock market year could add $ 250,000 to your portfolio .
( more then most middle class workers earn in 5 years of work ) My 2 questions for this post are did anyone else notice that once you hit $ 100K @ @ @ @ @ @ @ of the sweet spot where your wealth snowball really starts rolling .
Secondly , why do so many people who focus so hard on earning money at their job , totally ignore saving and investing where undeniably once you reach a certain point your money will begin to go to work everyday , earning as much as a Physician , and start earning you a second six figure income passively .
Its almost as if the number one secret to financial life is to get to 100K then 1,000,000 as quick as humanly @ @ @ @ @ @ @ your life one easy mode .
Its true the rich get richer….But it takes a ton of discomfort and sacrifice to reach that point….The first 100K is the hardest .

by MedicalLabScientist
I started my first 401k back around age 26 making $9.50 an hour. I contributed about 3-5% to get the match. Got a job as a Phlebotomist and made around $12-$14 an hour from say age 28-33 and continued to contribute around 5% After about 7 years of this at age 33 my balance was maybe around $20,000 or so (kind of disappointing) Age 34 graduated college and got first real job as a medical technologist making $24.50 an hour and bumped 403b up to 10% Age 37 making about $27 an hour as Medical Technologist and bumped it up to 15% contribution limit. Age 39 making $29 an hour and 15% contribution I finally hit the $100,000 mark in my 403b account. It took me a good 12-13 years of saving. I am now age 41 and first year I moved to San Diego and am going to earn low six figures this year. I have bumped 403b up to max $19,000 per year. Age 41.5; My liquid assets are now at $267,000. (around $50,000 of that from selling real estate)
I am shocked at how fast the ball gets rolling once you hit that first $100,000 balance in your 401k/403b. I took forever to reach that milestone but once i got there I probably made most of the second 100K in about 2 years compounding interest. I think it sets something off inside of you where you see that your money can make you more in one great stock market day then you earn at your 9-5 job in a 2 week pay period. That is when you really see the value of saving and investing and you normally try to max your contributions at this point no matter the discomfort in doing so. I could only imagine how fast wealth starts to snowball once you reach $1,000,000 and a good 2019 stock market year could add $250,000 to your portfolio. (more then most middle class workers earn in 5 years of work)
My 2 questions for this post are did anyone else notice that once you hit $100K liquid assets it seems like its kind of the sweet spot where your wealth snowball really starts rolling.
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Secondly, why do so many people who focus so hard on earning money at their job, totally ignore saving and investing where undeniably once you reach a certain point your money will begin to go to work everyday, earning as much as a Physician, and start earning you a second six figure income passively.
Its almost as if the number one secret to financial life is to get to 100K then 1,000,000 as quick as humanly possible and then coast the rest of your life one easy mode.
Its true the rich get richer….But it takes a ton of discomfort and sacrifice to reach that point….The first 100K is the hardest.


investmentwatchblog--2020-08-23--Apple ($AAPL) surge (up 70% YTD)

Apple ($AAPL) surge (up 70% YTD)

Beside the stock split , which fundamentally adds no value to the company yet it added half a trillion $ @ @ @ @ @ is driving this insane rally ?
theoretically MSFT , AMZN and all the software service @ @ @ @ @ beneficiary in the last 6 month because of the COVID .
However , AAPL actually @ @ @ @ @ revenue hasn ’ t grown to justify this price levels , so what gives ?
@ @ @ @ @ meme stock like TSLA , so i am genuinely surprised .
Is Apple overvalued or @ @ @ @ @ Disclaimer : This information is only for educational purposes .
Do not make any investment @ @ @ @ @ in this article .
Do you own due diligence or consult your financial professional before @ @ @ @ @

by daynightcase
Beside the stock split, which fundamentally adds no value to the company yet it added half a trillion $ to its valuation. What is driving this insane rally?
AMZN ~+73% (YTD)
AAPL ~+70% (YTD)
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MSFT ~+30% (YTD)
theoretically MSFT, AMZN and all the software service companies would be the most beneficiary in the last 6 month because of the COVID. However, AAPL actually doubled in valuation. Their revenue hasn’t grown to justify this price levels, so what gives? AAPL isn’t a meme stock like TSLA, so i am genuinely surprised. Is Apple overvalued or AMZN and MSFT undervalued?
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.


investmentwatchblog--2020-08-23--This could have an impact on oil & gas next week

Pray for the Gulf @ chigrl This could have an impact on oil & gas next week 😱😰 pic.twitter.com/oJMNRY82fX

Pray for the Gulf@chigrl
This could have an impact on oil & gas next week 😱😰 pic.twitter.com/oJMNRY82fX
— Madeleine Lassman (@madeye26778) August 22, 2020


investmentwatchblog--2020-08-22--Tulsa residents sue city leaders over mandatory mask mandate

A group of business owners and doctors based in Tulsa , Oklahoma announced a lawsuit against the city ’ s @ @ @ @ @ the head of its Health Department .
The suit seeks the immediate repeal of mask @ @ @ @ @ said are harming the health of the city ’ s residents .
OAN ’ s @ @ @ @ @ Washington .

A group of business owners and doctors based in Tulsa, Oklahoma announced a lawsuit against the city’s mayor, city council and the head of its Health Department. The suit seeks the immediate repeal of mask mandates, which the plaintiffs said are harming the health of the city’s residents. OAN’s John Hines has more from Washington.
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investmentwatchblog--2020-08-22--I GOT A FREE HOUSE IN Argentina with a FIXED rate IN PESOS. MY CURRENCY WENT FROM 3 TO 130 lol. You

I GOT A FREE HOUSE IN Argentina with a FIXED rate IN PESOS. MY CURRENCY WENT FROM 3 TO 130 lol. You do the same. Fix it!

This is my personal story .
I got a home mortgage at a very low percent fixed rate .
My @ @ @ @ @ went from 4 per dollar to 130 $ .
It means my mortgage got really @ @ @ @ @ 20 years mortgage .
NOw in the year 10 , I could easily cancel it @ @ @ @ @ lol .
I won ` t do it .
Let it burn baby YOU AMERICANS @ @ @ @ @ expansive era again .
Maybe a commodity boom and reinflation .
the fed is saying @ @ @ @ @ inflate it becase actually there is DEFLATION massively with this crash .
They will not @ @ @ @ @ will pump the bubble one more time .
GET YOUR FIX LONG TERM RATE NOW @ @ @ @ @

This is my personal story.
I got a home mortgage at a very low percent fixed rate.
My currency ( argentinian pesos) went from 4 per dollar to 130$.
It means my mortgage got really destroyed. it was a 20 years mortgage.
NOw in the year 10, I could easily cancel it with 1000 U$s lol.
I won`t do it. Let it burn baby
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YOU AMERICANS: we are entering a expansive era again. Maybe a commodity boom and reinflation. the fed is saying that they will try to inflate it becase actually there is DEFLATION massively with this crash.
They will not allow that. So they will pump the bubble one more time.
GET YOUR FIX LONG TERM RATE NOW AND ENJOY THE RIDE!
h/t SS


investmentwatchblog--2020-08-22--CASHING IN ON 33,000 DEAD NEW YORKERS: Andrew Cuomo’s Book Deal and Why the Worst Rise to the Top in

CASHING IN ON 33,000 DEAD NEW YORKERS: Andrew Cuomo’s Book Deal and Why the Worst Rise to the Top in Politics.

The coronavirus pandemic has hit the state of New York especially hard .
Almost 33,000 New Yorkers have died from the virus , more total deaths than any other state in the country .
And New York ranks as the second-worst state for deaths when adjusted for population .
The Empire State alone accounts for one in five coronavirus deaths in the US despite having only around six percent of the nation ’ s population .
Why did New York fare so poorly ?
Well , the coronavirus is far more lethal for older people .
How well a state @ @ @ @ @ @ @ with how well they protected elderly , vulnerable populations .
In New York , Gov .
Andrew Cuomo mandated that nursing homes accept patients who had tested positive for COVID-19 even if it means exposing their residents to the virus .
Yes , you read that right .
It shouldn ’ t come as a shock , then , that at least 6,600 of the state ’ s deaths happened in nursing homes .
And this is almost certainly an undercount , as the Associated Press says it could be more like 11,000 @ @ @ @ @ @ @ in which New York defined its deaths .
( The AP described New York ’ s death toll as “ cloaked in secrecy ” and even Democratic state legislators have accused the state of trying to cover up the number of nursing home deaths ) .
Of course this is what would happen if you force institutions housing the elderly to accept carriers of a virus that is highly lethal for older people .
Other states such as Florida did the opposite .
By barring COVID-19 positive patients from nursing homes , they @ @ @ @ @ @ @ Cuomo has refused to allow an independent investigation into his handling of the nursing home debacle despite bipartisan calls for oversight .
From start to finish , Cuomo botched the COVID-19 response woefully .
National Review ’ s Kyle Smith summarized the governor ’ s mistakes “ breathtakingly bad moves ” that “ in retrospect amounted to catastrophe .
”

via fee.org:
The coronavirus pandemic has hit the state of New York especially hard. Almost 33,000 New Yorkers have died from the virus, more total deaths than any other state in the country. And New York ranks as the second-worst state for deaths when adjusted for population. The Empire State alone accounts for one in five coronavirus deaths in the US despite having only around six percent of the nation’s population.
Why did New York fare so poorly?
Well, the coronavirus is far more lethal for older people. How well a state has mitigated the death count closely corresponds with how well they protected elderly, vulnerable populations. In New York, Gov. Andrew Cuomo mandated that nursing homes accept patients who had tested positive for COVID-19 even if it means exposing their residents to the virus.
Yes, you read that right.
It shouldn’t come as a shock, then, that at least 6,600 of the state’s deaths happened in nursing homes. And this is almost certainly an undercount, as the Associated Press says it could be more like 11,000 when you adjust for the odd way in which New York defined its deaths. (The AP described New York’s death toll as “cloaked in secrecy” and even Democratic state legislators have accused the state of trying to cover up the number of nursing home deaths).
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Of course this is what would happen if you force institutions housing the elderly to accept carriers of a virus that is highly lethal for older people. Other states such as Florida did the opposite. By barring COVID-19 positive patients from nursing homes, they escaped thousands of deaths.
Worse, Cuomo has refused to allow an independent investigation into his handling of the nursing home debacle despite bipartisan calls for oversight.
From start to finish, Cuomo botched the COVID-19 response woefully. National Review’s Kyle Smith summarized the governor’s mistakes “breathtakingly bad moves” that “in retrospect amounted to catastrophe.”
…
NY Gov Cuomo seems to go on victory lap despite highest death toll in U.S. @drsanjaygupta reports pic.twitter.com/SQodVimCWk — The Lead CNN (@TheLeadCNN) July 14, 2020
….


investmentwatchblog--2020-08-22--Plandemic II: Indoctornation (2020) has been released. This is one of the most heavily censored docu

Plandemic II: Indoctornation (2020) has been released. This is one of the most heavily censored documentaries across the internet right now. Watch and share.

Guided by the meticulous work of Dr. David E. Martin , Plandemic II : Indoctornation , tracks a three decade-long @ @ @ @ @ to the key players behind the COVID 19 pandemic .
Plandemic II will connect the @ @ @ @ @ media , the medical industry , politics and the financial industry to unmask the major @ @ @ @ @ decision-makers that are currently managing this crisis .
Created by the team behind the game-changing @ @ @ @ @ Willis featuring Dr. Judy Mikovits that went viral and was banned on every major social @ @ @ @ @ truth about Covid-19 , this new feature length piece which is the most revelatory film @ @ @ @ @ vaccine agenda , the various roles of the WHO , Bill Gates , Tedros Adhanom @ @ @ @ @ .
Disclaimer : This is a guest post and it doesn ’ t necessarily represent @ @ @ @ @

by bgny
Official description:
Guided by the meticulous work of Dr. David E. Martin, Plandemic II: Indoctornation, tracks a three decade-long money trail that leads directly to the key players behind the COVID 19 pandemic. Plandemic II will connect the dots between all forms of media, the medical industry, politics and the financial industry to unmask the major conflicts of interests with the decision-makers that are currently managing this crisis.
WATCH PLANDEMIC II: Indoctornation
Official Premiere link
ISE media video link
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Bitchute
LBRY
Youtube
Created by the team behind the game-changing Plandemic video segment from Mikki Willis featuring Dr. Judy Mikovits that went viral and was banned on every major social media platform for exposing the truth about Covid-19, this new feature length piece which is the most revelatory film on what is driving the vaccine agenda, the various roles of the WHO, Bill Gates, Tedros Adhanom, Anthony Fauci and more.
Disclaimer: This is a guest post and it doesn’t necessarily represent the views of IWB.


investmentwatchblog--2020-08-22--Russia Overtakes Saudi Arabia To Become Second Largest Oil Producer

Russia produced more crude oil than Saudi Arabia in June , beating it to the second place of the largest oil producers in the world , behind the number-one producer , the United States , data from the Joint Organisations Data Initiative ( JODI ) showed .
In June , Russia ’ s crude oil production was 8.788 million bpd , according to the data released by the JODI database , which collects self-reported figures from 114 countries .
To compare , production in Saudi Arabia in the same month was just below 7.5 million bpd .
June was the @ @ @ @ @ @ @ its oil production by an additional 1 million bpd for just one month , on top of the 2.5 million bpd it was supposed to cut as per the OPEC+ deal in force since May .
While Russia and Saudi Arabia are cutting production as part of the OPEC+ agreement , the United States remained the top crude oil producer in the world in June , despite the slump in crude oil production since May in response to the low oil prices .
The JODI database showed that U.S. crude oil production averaged @ @ @ @ @ @ @ from 10 million bpd in May , which saw the lowest U.S. monthly production since late 2017 .
The U.S. became the world ’ s biggest crude oil producer , surpassing both Saudi Arabia and Russia , in 2018 .
The oil price collapse earlier this year forced Saudi Arabia and Russia to forge a new OPEC+ pact and cut much more production than in their previous agreement , while U.S. producers curtailed nearly 2 million bpd of production in response to the low oil prices .
The latest EIA estimates point to @ @ @ @ @ @ @ average of 990,000 bpd this year , for an average of 11.26 million bpd .
Despite the fact that the estimate is a far greater loss than the EIA had expected in the previous month ’ s forecast , the U.S. will continue to be the world ’ s top crude oil producer , ahead of Saudi Arabia and Russia .

By Tsvetana Paraskova
Russia produced more crude oil than Saudi Arabia in June, beating it to the second place of the largest oil producers in the world, behind the number-one producer, the United States, data from the Joint Organisations Data Initiative (JODI) showed.
In June, Russia’s crude oil production was 8.788 million bpd, according to the data released by the JODI database, which collects self-reported figures from 114 countries.
To compare, production in Saudi Arabia in the same month was just below 7.5 million bpd. June was the month in which Saudi Arabia voluntarily slashed its oil production by an additional 1 million bpd for just one month, on top of the 2.5 million bpd it was supposed to cut as per the OPEC+ deal in force since May.
While Russia and Saudi Arabia are cutting production as part of the OPEC+ agreement, the United States remained the top crude oil producer in the world in June, despite the slump in crude oil production since May in response to the low oil prices. The JODI database showed that U.S. crude oil production averaged 10.879 million bpd in June, up from 10 million bpd in May, which saw the lowest U.S. monthly production since late 2017.
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The U.S. became the world’s biggest crude oil producer, surpassing both Saudi Arabia and Russia, in 2018.
The oil price collapse earlier this year forced Saudi Arabia and Russia to forge a new OPEC+ pact and cut much more production than in their previous agreement, while U.S. producers curtailed nearly 2 million bpd of production in response to the low oil prices.
The latest EIA estimates point to U.S. crude oil production dropping by an average of 990,000 bpd this year, for an average of 11.26 million bpd. Despite the fact that the estimate is a far greater loss than the EIA had expected in the previous month’s forecast, the U.S. will continue to be the world’s top crude oil producer, ahead of Saudi Arabia and Russia.
By Tsvetana Paraskova for Oilprice.com