investmentwatchblog--2020-07-02--Black Lives Matter is training a paramilitary groups on US soil

( Natural News ) The Black Lives Matter ( BLM ) sociopolitical movement is not some pro-democracy , peaceful protest group , as it is promoted by the mainstream leftist media .
The BLM is operating like a paramilitary group , crashing cities with mob violence and extortion .
They are the ones behind the unfathomable abolishing of police departments , and the destruction and de-funding of law enforcement operations nationwide .
As BLM is christened by the media , supported by celebrities and catered to by corporate America ; they are quietly making plans to train a military branch @ @ @ @ @ @ @ officers on the streets .
At the BLM headquarters in Los Angeles , BLM “ military advisors ” charted out their plans and intentions to patrol the streets .
In Los Angeles , BLM leaders released a blueprint called the “ Black Opts ” which recruits and equips a highly trained military arm to take on law enforcement .
All the donations that BLM receives from individuals and corporate donors is either going to the DNC or being used to prepare for war against the United States republic .
BLM military arm plans @ @ @ @ @ @ @ police BLM leader , Hawk Newsome , Chairman of BLM ’ s Greater New York chapter , revealed their plans to build a military branch on US soil .
Newsome desires a full-on war on police , with armed Black Panther-style patrols to take over law enforcement operations nationwide .
“ We have black Special Forces officers advising us , and we will teach and train people in our communities , the Black Ops department of Black Opportunities , ” said Newsome .
“ We want liberation .
We want the power to @ @ @ @ @ @ @ freedom from an oppressive government , and we want the immediate end of government sanctioned murder by the police .
And we prepare to stop these government sanctioned murders by any means necessary .
We are preparing and training our people to defend our communities .
It ’ s our obligation , it is our duty to provide people with a pathway forward , ” he said .
Actor and musician Nick Cannon opened up his offices at NCredible Entertainment to host the BLM ’ s Los Angeles military meeting .
At the @ @ @ @ @ @ @ ‘ Black Opts ’ blueprint , while alerting the public to their plans .
The plans include Black Panther-style patrols that will be the judge and jury of racial intent .
These armed patrols will take on law enforcement officers if cops do not enforce the law the way BLM wants them to .
The BLM said they are raising funds to create a “ war chest ” with plans to build a headquarters in an unused church in New York .
This lawlessness hearkens to the days when Black Panther Party members @ @ @ @ @ @ @ 1966 , the Black Panther party was enlisted to patrol the streets and monitor law enforcement .
Members of the Black Panther party got away with murder in the 1960s , as they took on the Oakland Police Department .
Huey Newton ( Minister of Defense ) murdered officer John Frey in 1967 .
Eldridge Cleaver ( Minster of Information ) ambushed Oakland police officers in 1968 , wounding two officers , while getting fellow Panther Bobby Hutton killed .
Back then , this kind of lawlessness was condemned by practically everyone in @ @ @ @ @ @ @ insurrection is being promoted and supported by celebrities , corporations , and the leftist media .
As the enabling continues , a domestic enemy , foreign to the US in values and principles , is setting up operations with its own terror cells planted strategically throughout the country .
If the left continue to rise to power and inhabit the federal government , Black Panther patrols may become the new law enforcement , executing cops in cold blood and forcing white people to kneel and pay for being guilty , by default .

by: Lance D Johnson
(Natural News) The Black Lives Matter (BLM) sociopolitical movement is not some pro-democracy, peaceful protest group, as it is promoted by the mainstream leftist media. The BLM is operating like a paramilitary group, crashing cities with mob violence and extortion. They are the ones behind the unfathomable abolishing of police departments, and the destruction and de-funding of law enforcement operations nationwide.
As BLM is christened by the media, supported by celebrities and catered to by corporate America; they are quietly making plans to train a military branch so they can monitor and patrol police officers on the streets. At the BLM headquarters in Los Angeles, BLM “military advisors” charted out their plans and intentions to patrol the streets. In Los Angeles, BLM leaders released a blueprint called the “Black Opts” which recruits and equips a highly trained military arm to take on law enforcement. All the donations that BLM receives from individuals and corporate donors is either going to the DNC or being used to prepare for war against the United States republic.
BLM military arm plans to take over city streets, eradicate police
BLM leader, Hawk Newsome, Chairman of BLM’s Greater New York chapter, revealed their plans to build a military branch on US soil. Newsome desires a full-on war on police, with armed Black Panther-style patrols to take over law enforcement operations nationwide.
“We have black Special Forces officers advising us, and we will teach and train people in our communities, the Black Ops department of Black Opportunities,” said Newsome.
“We want liberation. We want the power to determine our own destiny. We want freedom from an oppressive government, and we want the immediate end of government sanctioned murder by the police. And we prepare to stop these government sanctioned murders by any means necessary. We are preparing and training our people to defend our communities. It’s our obligation, it is our duty to provide people with a pathway forward,” he said.
We are primarily funded by readers. Please subscribe and donate to support us!
Actor and musician Nick Cannon opened up his offices at NCredible Entertainment to host the BLM’s Los Angeles military meeting. At the meeting, BLM leaders charted out the ‘Black Opts’ blueprint, while alerting the public to their plans. The plans include Black Panther-style patrols that will be the judge and jury of racial intent. These armed patrols will take on law enforcement officers if cops do not enforce the law the way BLM wants them to. The BLM said they are raising funds to create a “war chest” with plans to build a headquarters in an unused church in New York.
This lawlessness hearkens to the days when Black Panther Party members engaged in cop watching. Founded in 1966, the Black Panther party was enlisted to patrol the streets and monitor law enforcement. Members of the Black Panther party got away with murder in the 1960s, as they took on the Oakland Police Department. Huey Newton (Minister of Defense) murdered officer John Frey in 1967. Eldridge Cleaver (Minster of Information) ambushed Oakland police officers in 1968, wounding two officers, while getting fellow Panther Bobby Hutton killed.
Back then, this kind of lawlessness was condemned by practically everyone in the country. Now this kind of insurrection is being promoted and supported by celebrities, corporations, and the leftist media. As the enabling continues, a domestic enemy, foreign to the US in values and principles, is setting up operations with its own terror cells planted strategically throughout the country. If the left continue to rise to power and inhabit the federal government, Black Panther patrols may become the new law enforcement, executing cops in cold blood and forcing white people to kneel and pay for being guilty, by default.
Sources include:
GreatGameIndia.com
NaturalNews.com


investmentwatchblog--2020-07-02--20 minutes of the most raw television coverage you’ll see.

Sean Hannity very well may have guaranteed Trump the win
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h/t AR 15


investmentwatchblog--2020-07-02--Nashville passes 34% Tax Increase, Residents move to recall entire City Council

NASHVILLE , Tenn. ( Mike Osborne ) — The group NoTax4Nash has followed through on its threat to start recall @ @ @ @ @ and City Council members who voted for an dramatically increased property tax .
NoTax4Nash has @ @ @ @ @ Cooper and 32 council members who voted in favor of the property tax increase .

NASHVILLE, Tenn. (Mike Osborne) — The group NoTax4Nash has followed through on its threat to start recall petitions for Mayor John Cooper and City Council members who voted for an dramatically increased property tax.
NoTax4Nash has placed recall petitions for Mayor Cooper and 32 council members who voted in favor of the property tax increase.
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www.wmot.org/post/group-lobbied-against-nashvilles-recent-property-tax-increase-begins-recall-effort#stream/0


investmentwatchblog--2020-07-02--THIS SHOULD BE FUN: D.C. Sued Over “Black Lives Matter” Painted on City Street.

Judicial Watch went to court Wednesday demanding access to paint the streets of Washington with its own political message after @ @ @ @ @ Lives Matter ” on one street and allowed protesters to paint “ Defund the Police @ @ @ @ @ The conservative group said the city has effectively turned its roadways into a public forum @ @ @ @ @ allow those with differing viewpoints than BLM protesters to have the same access , or @ @ @ @ @ the First Amendment .
Judicial Watch said it wants to paint its own motto , @ @ @ @ @ Above the Law .
”

Judicial Watch went to court Wednesday demanding access to paint the streets of Washington with its own political message after the city wrote “Black Lives Matter” on one street and allowed protesters to paint “Defund the Police” next to it.
The conservative group said the city has effectively turned its roadways into a public forum, and so it must allow those with differing viewpoints than BLM protesters to have the same access, or else it’s violating the First Amendment.
We are primarily funded by readers. Please subscribe and donate to support us!
Judicial Watch said it wants to paint its own motto, “Because No One is Above the Law.”
www.washingtontimes.com/news/2020/jul/1/dc-sued-over-black-lives-matter-painted-city-stree/


investmentwatchblog--2020-07-02--Yet another hydroxychloroquine study “debunking” drug’s benefits turns out to be fake science

( Natural News ) The crusade to malign the benefits of hydroxychloroquine in stamping out the Wuhan coronavirus ( COVID-19 ) has backfired once again with another hoax study being outed as fraudulent .
Almost immediately after an earlier study in The Lancet was debunked , another one took its place .
And this new U.K.-based study , known as the “ RECOVERY ” trials , is just as flawed as the first .
As pointed out by Edmund Fordham , the RECOVERY trial used insanely high doses of a different form chloroquine to “ prove ” that the drug @ @ @ @ @ @ @ “ Internet sleuths … got to work on the very heavy doses of the drug that were given – 2400 mg in the first 24 hours , a ‘ dose fit for a gorilla ’ as one critic had it , ” wrote Fordham .
“ Quizzed about this , Landray ( the study ’ s author ) defended the dosage , twice , as being usual for other diseases such as amoebic dysentery.
” In other words , the RECOVERY trials administered unnaturally high doses of hydroxychloroquine to patients based on the @ @ @ @ @ @ @ used for diseases other than those caused by the Wuhan coronavirus ( COVID-19 ) – which makes no logical sense .
What is worse is the fact that hydroxychloroquine is not even an appropriate drug for treating dysentery .
“ As a footnote in medical history , the older chloroquine was used half a century ago in attempts to control dysentery , but Professor Christian Perronne , head of infectious diseases at Garches , France , told France Soir that it had been abandoned before 1976 , ” Fordham writes .
“ Was @ @ @ @ @ @ @ which are used for dysentery ?
” he further asks , suggesting that Landray is not even aware that he is talking about a completely different drug .
So , the medical deep state killed innocent people to “ prove ” that hydroxychloroquine doesn ’ t work for coronavirus ?
Perhaps the most disturbing element of the RECOVERY trials is the fact that 1,132 patients ended up dying from the super-high doses of hydroxychloroquine they were carelessly given as part of this effort to “ disprove ” the effectiveness of hydroxychloroquine for the @ @ @ @ @ @ @ it appears as though deliberate deception was involved in the methodology behind this study , we can only conclude that 1,132 innocent lives were taken on purpose as part of the deep state ’ s anti-hydroxychloroquine crusade .
When question about this , Landray insisted twice that his dosages were correct and that everything was performed correctly as part of his study .
He later changed his story , though , and is now insisting that the media misquoted him concerning the dosages .
Landray is now insistent that the high doses he @ @ @ @ @ @ @ and that the U.K. allows for up to 24 whole grams of hydroxychloroquine to be administered to a patient at one time .
The truth , however , is that 24 grams of hydroxychloroquine would more than likely kill a patient right on the spot , which makes Landray wrong again .
“ In France 1800 mg in a day mandates hospitalization as a poisoning , ” Fordham warns .
“ Twenty-four grams at one go would be almost certainly lethal , possibly even to a gorilla .
So Landray has had notice @ @ @ @ @ @ @ which will no doubt be explained in the full report , not yet released.
” The good news is that Landray ’ s study was canceled before even more participants ended up dead from what amounts to deliberate medical malpractice .
“ In the end … this study is just another in a long list which completely miss the mark and it ’ s good that it was canceled , ” reports Red State about how this latest anti-hydroxychloroquine study only proves that the left is deranged beyond reason .
“ The whole @ @ @ @ @ @ @ More stories about the deep state ’ s medical science deceptions are available at ScienceClowns.com .

by: Ethan Huff
(Natural News) The crusade to malign the benefits of hydroxychloroquine in stamping out the Wuhan coronavirus (COVID-19) has backfired once again with another hoax study being outed as fraudulent.
Almost immediately after an earlier study in The Lancet was debunked, another one took its place. And this new U.K.-based study, known as the “RECOVERY” trials, is just as flawed as the first.
As pointed out by Edmund Fordham, the RECOVERY trial used insanely high doses of a different form chloroquine to “prove” that the drug is dangerous and does not work.
“Internet sleuths … got to work on the very heavy doses of the drug that were given – 2400 mg in the first 24 hours, a ‘dose fit for a gorilla’ as one critic had it,” wrote Fordham.
“Quizzed about this, Landray (the study’s author) defended the dosage, twice, as being usual for other diseases such as amoebic dysentery.”
In other words, the RECOVERY trials administered unnaturally high doses of hydroxychloroquine to patients based on the “reasoning” that such doses are used for diseases other than those caused by the Wuhan coronavirus (COVID-19) – which makes no logical sense.
What is worse is the fact that hydroxychloroquine is not even an appropriate drug for treating dysentery.
“As a footnote in medical history, the older chloroquine was used half a century ago in attempts to control dysentery, but Professor Christian Perronne, head of infectious diseases at Garches, France, told France Soir that it had been abandoned before 1976,” Fordham writes.
“Was Landray confusing hydroxychloroquine with the hydroxyquinolines, which are used for dysentery?” he further asks, suggesting that Landray is not even aware that he is talking about a completely different drug.
So, the medical deep state killed innocent people to “prove” that hydroxychloroquine doesn’t work for coronavirus?
Perhaps the most disturbing element of the RECOVERY trials is the fact that 1,132 patients ended up dying from the super-high doses of hydroxychloroquine they were carelessly given as part of this effort to “disprove” the effectiveness of hydroxychloroquine for the Wuhan coronavirus (COVID-19).
We are primarily funded by readers. Please subscribe and donate to support us!
Since it appears as though deliberate deception was involved in the methodology behind this study, we can only conclude that 1,132 innocent lives were taken on purpose as part of the deep state’s anti-hydroxychloroquine crusade.
When question about this, Landray insisted twice that his dosages were correct and that everything was performed correctly as part of his study. He later changed his story, though, and is now insisting that the media misquoted him concerning the dosages.
Landray is now insistent that the high doses he gave were not actually high doses, and that the U.K. allows for up to 24 whole grams of hydroxychloroquine to be administered to a patient at one time. The truth, however, is that 24 grams of hydroxychloroquine would more than likely kill a patient right on the spot, which makes Landray wrong again.
“In France 1800 mg in a day mandates hospitalization as a poisoning,” Fordham warns. “Twenty-four grams at one go would be almost certainly lethal, possibly even to a gorilla. So Landray has had notice of some hard questions on dose, which will no doubt be explained in the full report, not yet released.”
The good news is that Landray’s study was canceled before even more participants ended up dead from what amounts to deliberate medical malpractice.
“In the end … this study is just another in a long list which completely miss the mark and it’s good that it was canceled,” reports Red State about how this latest anti-hydroxychloroquine study only proves that the left is deranged beyond reason. “The whole thing feels politicized at this point.”
More stories about the deep state’s medical science deceptions are available at ScienceClowns.com.
Sources for this article include:
RedState.com
NaturalNews.com


investmentwatchblog--2020-07-02--Trump Now Says He Would Wear a Face Mask

But not at today ’ s briefing… Trump on Wednesday said that he was “ all for masks ” and @ @ @ @ @ were in “ in a tight situation with people.
” “ I mean , I @ @ @ @ @ Actually , I had a mask on .
I sort of liked the way I @ @ @ @ @ thought it was OK , ” he said .
“ It was a dark , @ @ @ @ @ thought it looked OK .
Looked like the Lone Ranger .
But , no , @ @ @ @ @ that .
I think—and if people feel good about it , they should do it @ @

But not at today’s briefing…
Trump on Wednesday said that he was “all for masks” and would wear one if he were in “in a tight situation with people.” “I mean, I would have no problem. Actually, I had a mask on. I sort of liked the way I looked, OK? I thought it was OK,” he said. “It was a dark, black mask, and I thought it looked OK. Looked like the Lone Ranger. But, no, I have no problem with that. I think—and if people feel good about it, they should do it.”
“I Would. I Have.”
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www.msn.com/en-us/news/politics/trump-now-says-he-would-wear-a-face-mask/ar-BB16fHGG
h/t Goneviral


investmentwatchblog--2020-07-02--There are just nine steps from freedom to socialism to societal breakdown

“ Talk of socialism is suddenly everywhere .
The journey from a free society to socialism , however , does not occur overnight .
It ’ s a stepped process that begins slowly and ends with a rush .
Here are those steps : Step 1 .
Massive Government Spending .
Socialist states have government at the center of their economies and feature enormous spending programs .
BERNIE SANDERS WILL BE THE DEMOCRATIC NOMINEE – HERE ARE FIVE REASONS WHY In early 1990s Sweden often cited as a socialist state , government spending exceeded 70 percent of its economy .
@ @ @ @ @ @ @ approximately 2 to 3 percent of the economy .
Today , we are at 36 percent .
Sweden , now walking away from socialism , has reduced its spending share to just over 50 percent .
Government education , retirement , and medical care — nearly cradle to grave spending — are three cornerstones of future socialist states .
Obama once said you can create a governing majority of those dependent on government .
Elizabeth Warren is now promoting “ universal child care , ” which would extend that dependence .
Step 2 @ @ @ @ @ @ @ .
Increased tax burdens go hand-in-hand with spending .
Throughout history , tax systems start out simple and wind up complex and burdensome .
By the end of Rome ’ s socialism under Diocletian , according to the historian Will Durant , taxation “ rose to such heights that men lost the incentive to work or earn , and an erosive context began between lawyers finding devices to evade taxes and lawyers formulating laws to prevent evasion , ” which led Romans to flee , seeking “ refuge among the barbarians.
” We @ @ @ @ @ @ @ long that few can do their own taxes .
Not satisfied , politicians threaten massive income tax hikes , wealth tax confiscation and penalties for those who want to leave the country .
Step 3 .
Reduced Growth Leading to Economic Stagnation .
Over the last 20 years , the European Union , which featured socialist and semi-socialist states , had almost zero economic growth .
Over the last 60 years , while our governments grew to 36 percent of the economy and imposed trillions in regulation , our growth slipped from an @ @ @ @ @ @ @ .
Step 4 .
Deficits .
In semi-socialist Greece , once on the brink of being a failed state , government debt , as a percentage of the economy , is nearly 180 percent .
That would be like you having credit card debt nearly double your income .
In the U.S. , that debt ratio has exploded in the last decade , rising to nearly 106 percent .
Step 5 .
Governments Print Money .
Undeterred by deficits or debt , governments print money to pay for programs .
Inflation is the @ @ @ @ @ @ @ beyond the needs of economic growth .
In socialist Venezuela , inflation is expected to be at least one million percent in 2019 .
In other words , its money isn ’ t worth the paper on which it ’ s printed .
Step 6 .
Government Fixes Prices and Declares When Goods Can be Sold .
Diocletian set wage and price controls for socialist Rome .
In Venezuela , people can only shop on certain days and shopping malls can only be open two days a week .
Free of that today @ @ @ @ @ @ @ gas rationing and double-digit inflation .
Step 7 .
Underground Economies Rise .
The more crushing taxation , spending , inflation , and regulations are , the larger the underground economy .
People turn to a barter system because paper money becomes worthless .
In Greece , the underground economy is said to exceed 20 percent of the economy .
America ’ s , by contrast , is around 5 – 6 percent .
Step 8 .
Class Warfare Begins Tearing the Fabric of Society .
Historically , class warfare ( the fight @ @ @ @ @ @ @ begins in earnest as economies stagnate .
That reaches a dangerous apex during prolonged economic stagnation if accompanied by significant wealth inequality .
Of ancient Greece , Plato described “ two cities .
.
.
one the city of the poor , the other of the rich , the one at war with the other.
” According to Durant , the “ poor schemed to despoil the rich by legislation and revolution [ and ] the rich organized for protection against the poor.
” Ancient Greece ’ s bitter class warfare included not @ @ @ @ @ @ @ of “ democracy as empowered envy ” – a certain outcome , in the U.S. , if we abandon the Electoral College .
Step 9 .
Total Societal Discord .
Also in ancient Greece , debtors , when the legislative ransoming of the rich ’ s wealth was not enough , murdered creditors as in Mytilene .
Today , Venezuela is in near total societal breakdown as tens of thousands seek to flee the country amidst a socialist dictatorship , a growing police state , empty store shelves , little medicine , and @ @ @ @ @ @ @ steps .
They don ’ t necessarily occur in order , often occur in tandem and don ’ t have a timetable .
While they take time to develop , the rush at the end can be quite rapid as we have seen in Venezuela .
All along the way , the power of government grows and rights correspondingly diminish .
Often initiated by a seduced vote of the people , in time , socialism is maintained by force .
The United States is not , currently , a socialist nation .
Our @ @ @ @ @ @ @ necessity for a stable republic .
However , we have massive government programs .
If spending increases , at the rate it has in the last 20 years , socialism will come into view .
The adoption of “ Medicare-for-all , ” estimated to yearly cost $ 3.2 trillion , would push our spending as a percent of GDP well above 50 percent and explode our debt even more .
History , of course , is not a pre-determined straight line .
Wise leaders have steered civilizations away from bad decisions – as @ @ @ @ @ @ @

From a year ago on Fox:
“Talk of socialism is suddenly everywhere. The journey from a free society to socialism, however, does not occur overnight. It’s a stepped process that begins slowly and ends with a rush.
Here are those steps:
Step 1. Massive Government Spending. Socialist states have government at the center of their economies and feature enormous spending programs.
BERNIE SANDERS WILL BE THE DEMOCRATIC NOMINEE – HERE ARE FIVE REASONS WHY
In early 1990s Sweden often cited as a socialist state, government spending exceeded 70 percent of its economy. Under President Jefferson, government spending was approximately 2 to 3 percent of the economy. Today, we are at 36 percent. Sweden, now walking away from socialism, has reduced its spending share to just over 50 percent.
Government education, retirement, and medical care — nearly cradle to grave spending — are three cornerstones of future socialist states.
Obama once said you can create a governing majority of those dependent on government. Elizabeth Warren is now promoting “universal child care,” which would extend that dependence.
Step 2. Massive Tax Systems that Reduce Incentives. Increased tax burdens go hand-in-hand with spending. Throughout history, tax systems start out simple and wind up complex and burdensome.
By the end of Rome’s socialism under Diocletian, according to the historian Will Durant, taxation “rose to such heights that men lost the incentive to work or earn, and an erosive context began between lawyers finding devices to evade taxes and lawyers formulating laws to prevent evasion,” which led Romans to flee, seeking “refuge among the barbarians.”
We have a tax code so complicated and long that few can do their own taxes. Not satisfied, politicians threaten massive income tax hikes, wealth tax confiscation and penalties for those who want to leave the country.
Step 3. Reduced Growth Leading to Economic Stagnation. Over the last 20 years, the European Union, which featured socialist and semi-socialist states, had almost zero economic growth. Over the last 60 years, while our governments grew to 36 percent of the economy and imposed trillions in regulation, our growth slipped from an average of 4 percent to 2 percent.
Step 4. Deficits. In semi-socialist Greece, once on the brink of being a failed state, government debt, as a percentage of the economy, is nearly 180 percent. That would be like you having credit card debt nearly double your income. In the U.S., that debt ratio has exploded in the last decade, rising to nearly 106 percent.
We are primarily funded by readers. Please subscribe and donate to support us!
Step 5. Governments Print Money. Undeterred by deficits or debt, governments print money to pay for programs. Inflation is the result of governments increasing the money supply beyond the needs of economic growth. In socialist Venezuela, inflation is expected to be at least one million percent in 2019. In other words, its money isn’t worth the paper on which it’s printed.
Step 6. Government Fixes Prices and Declares When Goods Can be Sold. Diocletian set wage and price controls for socialist Rome. In Venezuela, people can only shop on certain days and shopping malls can only be open two days a week. Free of that today, in the 1970s, we had gas rationing and double-digit inflation.
Step 7. Underground Economies Rise. The more crushing taxation, spending, inflation, and regulations are, the larger the underground economy. People turn to a barter system because paper money becomes worthless. In Greece, the underground economy is said to exceed 20 percent of the economy. America’s, by contrast, is around 5 – 6 percent.
Step 8. Class Warfare Begins Tearing the Fabric of Society. Historically, class warfare (the fight between classes of haves and have-nots) begins in earnest as economies stagnate. That reaches a dangerous apex during prolonged economic stagnation if accompanied by significant wealth inequality.
Of ancient Greece, Plato described “two cities . . . one the city of the poor, the other of the rich, the one at war with the other.” According to Durant, the “poor schemed to despoil the rich by legislation and revolution [and] the rich organized for protection against the poor.” Ancient Greece’s bitter class warfare included not only government redistribution, but a distrust of “democracy as empowered envy” – a certain outcome, in the U.S., if we abandon the Electoral College.
Step 9. Total Societal Discord. Also in ancient Greece, debtors, when the legislative ransoming of the rich’s wealth was not enough, murdered creditors as in Mytilene. Today, Venezuela is in near total societal breakdown as tens of thousands seek to flee the country amidst a socialist dictatorship, a growing police state, empty store shelves, little medicine, and even less order.
Those are the steps. They don’t necessarily occur in order, often occur in tandem and don’t have a timetable. While they take time to develop, the rush at the end can be quite rapid as we have seen in Venezuela.
All along the way, the power of government grows and rights correspondingly diminish. Often initiated by a seduced vote of the people, in time, socialism is maintained by force.
The United States is not, currently, a socialist nation. Our economic vitality remains greatly decentralized – a necessity for a stable republic. However, we have massive government programs. If spending increases, at the rate it has in the last 20 years, socialism will come into view. The adoption of “Medicare-for-all,” estimated to yearly cost $3.2 trillion, would push our spending as a percent of GDP well above 50 percent and explode our debt even more.
History, of course, is not a pre-determined straight line. Wise leaders have steered civilizations away from bad decisions – as they have in Sweden today.”
www.foxnews.com/opinion/there-are-just-nine-steps-from-freedom-to-socialism-to-societal-breakdown
Watch the latest video at foxnews.com
h/t SS


investmentwatchblog--2020-07-02--CLOWN WORLD: Iran Nukes Iran

CLOWN WORLD: Iran Nukes Iran

The facility in Natanz in the central Iranian province of Isfahan is the country ’ s primary uranium enrichment facility @ @ @ @ @ enrichment programme after the United States unilaterally withdrew from the 2015 nuclear deal , which @ @ @ @ @ s nuclear ambitions in exchange for the lifting of sanctions .
An under-construction building near @ @ @ @ @ was damaged in an “ incident ” on Thursday morning , state news agency IRNA @ @ @ @ @ for Iran ’ s nuclear energy agency .

Iran Nuclear Spokesman Confirms ‘Incident’ Near Natanz Nuclear Site
The facility in Natanz in the central Iranian province of Isfahan is the country’s primary uranium enrichment facility. Iran began expanding its enrichment programme after the United States unilaterally withdrew from the 2015 nuclear deal, which curbed the Islamic Republic’s nuclear ambitions in exchange for the lifting of sanctions.
An under-construction building near the Natanz nuclear power plant was damaged in an “incident” on Thursday morning, state news agency IRNA reports, citing a spokesman for Iran’s nuclear energy agency.
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sputniknews.com/middleeast/202007021079773517-iran-nuclear-spokesman-confirms-incident-near-natanz-nuclear-site/
h/t CrsCrpr


investmentwatchblog--2020-07-02--IF YOU CAN DO YOUR JOB REMOTELY IT’S PROBABLY ALSO EASIER FOR YOUR EMPLOYER TO OUTSOURCE IT:

Stanford research provides a snapshot of a new working-from-home economy .
“ We see an incredible 42 percent of the @ @ @ @ @ from home full-time .
About another 33 percent are not working – a testament to @ @ @ @ @ lockdown recession .
And the remaining 26 percent – mostly essential service workers – are @ @ @ @ @ .
So , by sheer numbers , the U.S. is a working-from-home economy .
Almost @ @ @ @ @ working from home as at work .
More strikingly , if we consider the contribution @ @ @ @ @ based on their earnings , this enlarged group of work-from-home employees now accounts for more @ @ @ @ @ activity .
”

Stanford research provides a snapshot of a new working-from-home economy. “We see an incredible 42 percent of the U.S. labor force now working from home full-time. About another 33 percent are not working – a testament to the savage impact of the lockdown recession. And the remaining 26 percent – mostly essential service workers – are working on their business premises. So, by sheer numbers, the U.S. is a working-from-home economy. Almost twice as many employees are working from home as at work. More strikingly, if we consider the contribution to U.S. gross domestic product based on their earnings, this enlarged group of work-from-home employees now accounts for more than two-thirds of U.S. economic activity.”
We are primarily funded by readers. Please subscribe and donate to support us!
h/t GR


investmentwatchblog--2020-07-02--BEIJING HAS NO ONE TO BLAME BUT THEMSELVES:

Australia to spend $ 270b building larger military to prepare for ‘ poorer , more dangerous ’ world and rise of China .
Scott Morrison has unveiled a more aggressive defence strategy aimed at countering the rise of China , while warning that Australia faces regional challenges on a scale not seen since World War II .
The strategy increases the focus on the Indo-Pacific region , with the Prime Minister warning that Australia needs to prepare for a post-COVID-19 world that is “ poorer , more dangerous and more disorderly ” .
Australia will build a larger military that @ @ @ @ @ @ @ including new long-range anti-ship missiles , signalling a major shift in the nation ’ s defence strategy .
“ We have not seen the conflation of global economic and strategic uncertainty now being experienced here in Australia in our region since the existential threat we faced when the global and regional order collapsed in the 1930s and 1940s , ” the Prime Minister warned .
Mr Morrison also announced a commitment to spend $ 270 billion over the next decade on defence capabilities , including more potent strike weapons , cyber capabilities and @ @ @ @ @ @ @ IS GLOBAL : Modi deletes Weibo account , as China tensions simmer .
“ Modi was among a handful of foreign leaders with a Weibo account.
” Indian Prime Minister Narendra Modi has deleted his account on Sina Weibo , China ’ s answer to Twitter , an Indian government source and the company said , as tensions between the two countries continue to simmer over a border skirmish .
Since posting on Sina Weibo the first time in 2015 during a visit to China , Modi has been an infrequent user of @ @ @ @ @ @ @ more than 200,000 followers and 100 posts before the account was shut .
Sina Weibo announced the closure of the account late on Wednesday and the removal comes a few days after India banned dozens of Chinese apps , including Sina Weibo and ByteDance ’ s TikTok , following the border clash between the two nations .
An Indian government source said on Thursday that it took time to get Modi ’ s account taken down .
“ For VIP accounts , Weibo has a more complex procedure to quit which is why @ @ @ @ @ @ @ reasons best known to the Chinese , there was great delay in granting this basic permission , ” the source said .

Australia to spend $270b building larger military to prepare for ‘poorer, more dangerous’ world and rise of China.
Scott Morrison has unveiled a more aggressive defence strategy aimed at countering the rise of China, while warning that Australia faces regional challenges on a scale not seen since World War II.
The strategy increases the focus on the Indo-Pacific region, with the Prime Minister warning that Australia needs to prepare for a post-COVID-19 world that is “poorer, more dangerous and more disorderly”.
Australia will build a larger military that is focused on its immediate backyard, including new long-range anti-ship missiles, signalling a major shift in the nation’s defence strategy.
“We have not seen the conflation of global economic and strategic uncertainty now being experienced here in Australia in our region since the existential threat we faced when the global and regional order collapsed in the 1930s and 1940s,” the Prime Minister warned.
Mr Morrison also announced a commitment to spend $270 billion over the next decade on defence capabilities, including more potent strike weapons, cyber capabilities and a high-tech underwater surveillance system.
DECOUPLING IS GLOBAL: Modi deletes Weibo account, as China tensions simmer. “Modi was among a handful of foreign leaders with a Weibo account.”
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Indian Prime Minister Narendra Modi has deleted his account on Sina Weibo , China’s answer to Twitter, an Indian government source and the company said, as tensions between the two countries continue to simmer over a border skirmish.
Since posting on Sina Weibo the first time in 2015 during a visit to China, Modi has been an infrequent user of the social media platform. He had more than 200,000 followers and 100 posts before the account was shut.
Sina Weibo announced the closure of the account late on Wednesday and the removal comes a few days after India banned dozens of Chinese apps, including Sina Weibo and ByteDance’s TikTok, following the border clash between the two nations.
An Indian government source said on Thursday that it took time to get Modi’s account taken down.
“For VIP accounts, Weibo has a more complex procedure to quit which is why the official process was initiated. For reasons best known to the Chinese, there was great delay in granting this basic permission,” the source said.
h/tSG


investmentwatchblog--2020-07-02--It’s Happening: Jeffrey Epstein Confidante Ghislaine Maxwell Arrested By FBI!

Ghislaine Maxwell , the British socialite and heiress who became a confidante of disgraced financier Jeffrey Epstein and was later @ @ @ @ @ crimes , has been arrested by the FBI , two senior law enforcement sources tell @ @ @ @ @ She was arrested in Bedford , New Hampshire around 8:30 a.m. on charges she conspired @ @ @ @ @ minors , and is expected to appear in a federal court later today , the @ @ @ @ @ indictment in Manhattan federal court alleges that Maxwell helped Epstein groom girls as young as @ @ @ @ @ back as far as 1994 .
“ In some instances , Maxwell was present for @ @ @ @ @ abuse of minor victims , ” the indictment says .

What to Know Jeffrey Epstein confidante Ghislaine Maxwell was arrested Thursday morning in New Hampshire, law enforcement sources say
Maxwell will face charges that she conspired with the disgraced financier to sexually abuse underage girls
Epstein, a friend to presidents and captains of industry, died by suicide last August while awaiting trial on sex trafficking charges
Ghislaine Maxwell, the British socialite and heiress who became a confidante of disgraced financier Jeffrey Epstein and was later implicated in his alleged sexual crimes, has been arrested by the FBI, two senior law enforcement sources tell News 4 New York.
She was arrested in Bedford, New Hampshire around 8:30 a.m. on charges she conspired with Epstein to sexually abuse minors, and is expected to appear in a federal court later today, the sources say.
The six-count indictment in Manhattan federal court alleges that Maxwell helped Epstein groom girls as young as 14 years old, going back as far as 1994.
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“In some instances, Maxwell was present for and participated in the sexual abuse of minor victims,” the indictment says.
www.nbcnewyork.com/news/local/crime-and-courts/ghislaine-maxwell-arrested-jeffrey-epstein-aide/2495762/
www.nbcnewyork.com/news/local/crime-and-courts/ghislaine-maxwell-arrested-jeffrey-epstein-aide/2495762/


investmentwatchblog--2020-07-02--Remember the girl who said she would “stab” anyone who said All Lives Matter yesterday? FIRED.

Remember the girl who said she would “ stab ” anyone who said All Lives Matter yesterday ?
Hey @ MarkDice I have a better one check this out : pic.twitter.com/3mlw3bCLmv The Harvard graduate who said in a TikTok video that she would “ stab ” anyone who told her “ All Lives Matter ” revealed in a new pair of recordings that she has lost her job over the perceived threats and ensuing furor .
“ Standing up for Black Lives Matter put me in a place online to be seen by millions of people , ” a teary @ @ @ @ @ @ @ posted Wednesday afternoon .
“ The job that I ’ d worked really hard to get and meant a lot to me has called me and fired me because of everything.
” Janover ’ s LinkedIn account lists her as an “ incoming government and public business service analyst ” at Deloitte , a UK-based accounting firm .
During the video , Janover gestured to what appears to be a page from the company ’ s website , and noted that she was axed “ even though they claim to stand against systematic @ @ @ @ @ @ @ ”

Remember the girl who said she would “stab” anyone who said All Lives Matter yesterday?
The Harvard graduate who said in a TikTok video that she would “stab” anyone who told her “All Lives Matter” revealed in a new pair of recordings that she has lost her job over the perceived threats and ensuing furor.
“Standing up for Black Lives Matter put me in a place online to be seen by millions of people,” a teary Claira Janover said in a new video posted Wednesday afternoon. “The job that I’d worked really hard to get and meant a lot to me has called me and fired me because of everything.”
Janover’s LinkedIn account lists her as an “incoming government and public business service analyst” at Deloitte, a UK-based accounting firm.
During the video, Janover gestured to what appears to be a page from the company’s website, and noted that she was axed “even though they claim to stand against systematic bias, racism and unequal treatment.”


investmentwatchblog--2020-07-02--Liberal Says They’re Voting For Trump, Facebook DELETES Video

In last week ’ s fired-up conversation , Tim got a good rant in , but Adam did , too @ @ @ @ @ monologue went viral on Facebook , where the video eventually became unavailable .
Adam goes @ @ @ @ @ journey from passive , disengaged default liberal to alert , optimistic Trump voter .

In last week’s fired-up conversation, Tim got a good rant in, but Adam did, too, and Adam’s monologue went viral on Facebook, where the video eventually became unavailable. Adam goes into more detail about his journey from passive, disengaged default liberal to alert, optimistic Trump voter.
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investmentwatchblog--2020-07-02--Jeffrey Gundlach on coronavirus recession: A V-shaped recovery is ‘highly optimistic’

DoubleLine Capital CEO Jeffrey Gundlach joins Yahoo Finance ’ s Julia La Roche for an exclusive , wide-ranging interview discussing @ @ @ @ @ the economy amid COVID-19 , the 2020 election , and more .
Jeffrey Gundlach is @ @ @ @ @ Chief Investment Officer of DoubleLine Capital .
He is recognized as an expert in bond @ @ @ @ @ His investment strategies have been featured in leading publications from around the world In 2013 @ @ @ @ @ Money Manager of the Year ” by Institutional Investor .
He is a graduate of @ @ @ @ @ holding a BA in Mathematics and Philosophy .
He attended Yale University as a PhD @ @ @ @

Yahoo Finance, Released on 7/1/20
DoubleLine Capital CEO Jeffrey Gundlach joins Yahoo Finance’s Julia La Roche for an exclusive, wide-ranging interview discussing everything from his outlook on the economy amid COVID-19, the 2020 election, and more.
We are primarily funded by readers. Please subscribe and donate to support us!
Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His investment strategies have been featured in leading publications from around the world In 2013, he was named “Money Manager of the Year” by Institutional Investor. He is a graduate of Dartmouth College summa cum laude holding a BA in Mathematics and Philosophy. He attended Yale University as a PhD candidate in Mathematics.


investmentwatchblog--2020-07-02--Is there an Uptick in Coronavirus? Or is the Smartest Virus in History?

It is interesting that our computer projected the peak would be April then a bounce into July .
But this begs the question : Is this really a surge or is the fact that they have drastically increased the testing and the youth who have been infected without knowing it now test positive ?
I have stated that in a single month , I personally have been tested 5 times .
Each comes back as NEGATIVE yet a doctor told me that really doesn ’ t matter because the tests are so inaccurate .
I find this response just stunning @ @ @ @ @ @ @ say you don ’ t have this disease is to accept a Gates Vaccination that genetically alters your DNA when you have no idea what the long-term implications would be .
So you suddenly start to grow a nose on the back of your head in 5 years ?
Your lifespan is suddenly shortened and goes into a crash and burn ?
Nevertheless , California Gov .
Newsom has ordered bars to close , restaurants to halt indoor dining in LA , in other counties .
The closures are a reversal of the @ @ @ @ @ @ @ sharp uptick in coronavirus cases Newsom announced a new round of lockdown measures ordering 19 counties to close all indoor operations for several business sectors , including restaurants , as the state grapples with a resurgence of coronavirus cases .
In addition to bars being forced to shut down temporarily , restaurants , wineries , movie theaters , family entertainment venues , zoos , museums , and cardrooms must halt operations in selected communities , Newsom said that businesses can continue to operate if they can move operations outdoors .
When people said @ @ @ @ @ @ @ surge in new cases , they then come out with a study claiming that they were not the reason for the surge despite the fact they did not wear masks and did not socially distance .
They simply roll out studies to support whatever they want any more .
We are the cause of a surge because you go out to dinner or shop at the local store for food .
So , get a t-shirt that says Black Lives Matter and say you are protesting and you can go out without a @ @ @ @ @ @ @ as you protest , you will not get the virus .
It seems to be a very intelligent virus like no other in history .

by Martin Armstrong
It is interesting that our computer projected the peak would be April then a bounce into July. But this begs the question: Is this really a surge or is the fact that they have drastically increased the testing and the youth who have been infected without knowing it now test positive? I have stated that in a single month, I personally have been tested 5 times. Each comes back as NEGATIVE yet a doctor told me that really doesn’t matter because the tests are so inaccurate. I find this response just stunning. I suppose the only way to say you don’t have this disease is to accept a Gates Vaccination that genetically alters your DNA when you have no idea what the long-term implications would be. So you suddenly start to grow a nose on the back of your head in 5 years? Your lifespan is suddenly shortened and goes into a crash and burn?
Nevertheless, California Gov. Newsom has ordered bars to close, restaurants to halt indoor dining in LA, in other counties. The closures are a reversal of the state’s reopening process amid a sharp uptick in coronavirus cases Newsom announced a new round of lockdown measures ordering 19 counties to close all indoor operations for several business sectors, including restaurants, as the state grapples with a resurgence of coronavirus cases.
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In addition to bars being forced to shut down temporarily, restaurants, wineries, movie theaters, family entertainment venues, zoos, museums, and cardrooms must halt operations in selected communities, Newsom said that businesses can continue to operate if they can move operations outdoors.
When people said the protests are the reason for the surge in new cases, they then come out with a study claiming that they were not the reason for the surge despite the fact they did not wear masks and did not socially distance. They simply roll out studies to support whatever they want any more. We are the cause of a surge because you go out to dinner or shop at the local store for food. So, get a t-shirt that says Black Lives Matter and say you are protesting and you can go out without a mask because CNN has confirmed as along as you protest, you will not get the virus. It seems to be a very intelligent virus like no other in history.


investmentwatchblog--2020-07-02--Vaccines That Change your DNA & Gates’ Italian Experiment

Europe was already planning for a Vaccine ID Passport from the 3rd quarter of 2019 .
The real question is what is a vaccine .
Gates has been funding a vaccine that is totally different .
Instead of introducing a sample of a disease , he has been funding a vaccine that is in part nanobots that target to change and alter your DNA to prevent disease .
This is already being met with approval and is highly questionable as to what are the long-term effects of changing someone ’ s DNA .
Gates has been behind the movement in @ @ @ @ @ @ @ vaccinated .
There was even a September 12 , 2019 , global vaccination summit that was jointly sponsored bt the EC and Gates who controlled the World Health Organization ( WHO ) .
Roberto Burioni , a virologist at Vita-Salute San Raffaele University in Milan , Italy , became a celebrity battling against vaccine skeptics by simply stating : “ The Earth is round , gasoline is flammable , and vaccines are safe and effective , ” he said .
“ All the rest are dangerous lies.
” One of the reasons some @ @ @ @ @ @ @ from COVID-19 was higher than most other countries was because they were the target for a Gates ’ vaccine project sponsored by the WHO .
The 2016 Lifetime Immunization Schedule was approved by the Italian scientific societies claiming it was a new paradigm to promote vaccination at all ages .
There was a partnership of four national Medical Scientific Societies active in Italy in producing scientific advice on vaccines and vaccination influenced by Gates .
These were : • the Italian Society of Hygiene , Preventive Medicine and Public Health ; SitI , @ @ @ @ @ @ @ Practitioners ” ; FIMP , and The “ Lifetime Immunization Schedule ” was introduced for the first time in Italy which allowed its people to be experiments for Gates and the WHO .
The Italian National Prevention Plan was approved by the Italian Ministry of Health in February 2017 .
The serious question that has not been answered is what has been the connection between the excessive death rate in Italy in relation to this vaccination for “ all ages , ” which took place as an experiment supported by the WHO and @ @ @ @ @ @ @ about our politicians .
Are they being paid-off to allow Gates to experiment on the world population ?
The correlation between Italy and the only country to allow a Gates experimentation needs to be addressed .
The problem we really have is no politicians will allow an investigation that exposes their own corruption or bad decisions .

by Martin Armstrong
Europe was already planning for a Vaccine ID Passport from the 3rd quarter of 2019. The real question is what is a vaccine. Gates has been funding a vaccine that is totally different. Instead of introducing a sample of a disease, he has been funding a vaccine that is in part nanobots that target to change and alter your DNA to prevent disease. This is already being met with approval and is highly questionable as to what are the long-term effects of changing someone’s DNA.
Gates has been behind the movement in the EU to compel Europeans to be vaccinated. There was even a September 12, 2019, global vaccination summit that was jointly sponsored bt the EC and Gates who controlled the World Health Organization (WHO). Roberto Burioni, a virologist at Vita-Salute San Raffaele University in Milan, Italy, became a celebrity battling against vaccine skeptics by simply stating: “The Earth is round, gasoline is flammable, and vaccines are safe and effective,” he said. “All the rest are dangerous lies.”
We are primarily funded by readers. Please subscribe and donate to support us!
One of the reasons some believe that the death rate in Italy from COVID-19 was higher than most other countries was because they were the target for a Gates’ vaccine project sponsored by the WHO. The 2016 Lifetime Immunization Schedule was approved by the Italian scientific societies claiming it was a new paradigm to promote vaccination at all ages. There was a partnership of four national Medical Scientific Societies active in Italy in producing scientific advice on vaccines and vaccination influenced by Gates. These were:
the Italian Society of Hygiene, Preventive Medicine and Public Health; SitI, the Italian Society of Paediatrics; SIP, the “Italian Federation of General Practitioners”; FIMP, and the Italian Federation of General Medicine FIMMG)
The “Lifetime Immunization Schedule” was introduced for the first time in Italy which allowed its people to be experiments for Gates and the WHO. The Italian National Prevention Plan was approved by the Italian Ministry of Health in February 2017. The serious question that has not been answered is what has been the connection between the excessive death rate in Italy in relation to this vaccination for “all ages,” which took place as an experiment supported by the WHO and Bill Gates.
There are serious questions about our politicians. Are they being paid-off to allow Gates to experiment on the world population? The correlation between Italy and the only country to allow a Gates experimentation needs to be addressed. The problem we really have is no politicians will allow an investigation that exposes their own corruption or bad decisions.


investmentwatchblog--2020-07-02--Great news from the most prosperous nation on earth

By the mid-1990s , the economy of Zimbabwe was in serious trouble .
The national government under its dictator Robert Mugabe had spent years confiscating private property– real estate , businesses , factories , bank deposits , etc .
And unsurprisingly , this had a disastrous effect on the economy .
Productive citizens and talented entrepreneurs left Zimbabwe in droves– after all , who would want to keep operating under such awful conditions ?
So within a few years , everything from food production to mining output to manufacturing had plummeted .
So Mugabe did what most politicians would do @ @ @ @ @ @ @ money .
This is an old trick that governments have relied on for thousands of years .
The ‘ denarius ’ coin of ancient Rome , for example , contained 93.5 % silver in the early 100s AD under Emperor Trajan .
By the time Aurelian became emperor the following century , the coin contained only 5 % silver .
And as the denarius became less and less valuable , prices across the empire soared .
Merchants had to keep increasing their prices in order to receive the same amount of silver that @ @ @ @ @ @ @ .
This is precisely what happened in Zimbabwe .
The government conjured absurd quantities of money out of thin air in order to make ends meet… but the new money had no value .
It ’ s not like the central bank was able to create new mining production or agricultural output .
They just created a bunch of paper .
And with trillions upon trillions of new Zimbabwe dollars flooding into an economy that was suffering an extreme depression , prices started to skyrocket .
The following year more than 110 % @ @ @ @ @ @ @ % … and nearly 1300 % by 2006 .
By 2008 the inflation rate in Zimbabwe was so extreme that no one could even calculate it anymore .
Economists estimated that it was as high as 800 TRILLION percent .
In April 2009 , the government finally threw in the towel… and the country ’ s economic planning minister announced that the Zimbabwe dollar would be taken out of circulation “ because there is nothing to support and hold its value.
” Frankly , this is the case whenever any country simply conjures @ @ @ @ @ @ @ there ’ s nothing to support or hold its value .
So for the next ten years , Zimbabwe did not have its own currency ; people used dollars , euros , renminbi , South African rand… any other currency they could get their hands on .
I ’ ve been several times to Zimbabwe– and the only Zim dollars I ever saw were in souvenir shops or wallpaper in people ’ s bathrooms .
Then last year the government of Zimbabwe decided to give it another try… and they launched a new @ @ @ @ @ @ @ dollar ) .
Go figure , they ’ re once again in hyperinflation , with the most recent statistics estimating an annual inflation rate of 785 % , and climbing .
This time , in addition to printing more money , the government has imposed strict capital controls .
They suspended the stock exchange and have prohibited investors from pulling their money out .
They also shut down large parts of the local financial system a few days ago ( which is dominated by mobile payment platforms ) in order to prevent capital @ @ @ @ @ @ @ , though , is that nearly every country around the world is following Zimbabwe ’ s example .
Central banks everywhere , across Asia , Latin America , Europe , and North America , have conjured trillions upon trillions of currency units out of thin air since the pandemic started .
In the United States alone , the Federal Reserve has expanded its balance sheet by $ 3 trillion since March… and they ’ re barely getting started .
Meanwhile the federal government ’ s debt has increased by the same amount– roughly @ @ @ @ @ @ @ quest to bail out every last person across America .
$ 3 trillion .
Just think about that .
I remember in the late 1990s when $ 1 billion was still considered a lot of money .
If the government was found having wasted a few billion dollars , it was a really big deal .
Then over the next decade came 9/11 , endless wars , and the Global Financial Crisis .
Suddenly banks were being bailed out to the tune of $ 800 billion .
That was a shocking figure at @ @ @ @ @ @ @ to it .
Today these politicians and central bankers are throwing around TRILLIONS of dollars , like it ’ s nothing .
The US runs trillion dollar deficits each year .
The federal debt increased by half a trillion dollars in the last month alone , soaring past $ 26 trillion , and it doesn ’ t even make headlines anymore .
In the span of 20 years , $ 1 billion went from being a lot of money , to a rounding error… and now $ 1 trillion doesn ’ t even @ @ @ @ @ @ @ is a politician ’ s dream come true– they have a free pass to create limitless quantities of money to pay for whatever pet project they want .
Economists call this “ Modern Monetary Theory ” , and the idea is that prosperity is created by printing money , not by hard work and value creation .
It ’ s extraordinary that very intelligent people believe in this nonsense .
But if MMT were true , then Zimbabwe should be the most prosperous nation on earth .
Yet this is literally the second @ @ @ @ @ @ @ Zimbabwe has gone down this road of printing money , and then hyperinflation .
You ’ d think Zimbabwe would have learned its lesson .
Or at a minimum , you ’ d think the rest of the world would look at the experiences in Zimbabwe and think , “ Let ’ s never do that… ever.
” But that ’ s clearly not the case .
Policymakers around the world , including in the US and Europe , are racing to become Zimbabwe as quickly as they can .
But they ’ @ @ @ @ @ @ @ outcome .
On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years .
That ’ s why we published a new , 50-page long Ultimate Guide on Gold & Silver that you can download here .

by Simon Black of Sovereign Man
By the mid-1990s, the economy of Zimbabwe was in serious trouble.
The national government under its dictator Robert Mugabe had spent years confiscating private property– real estate, businesses, factories, bank deposits, etc.
And unsurprisingly, this had a disastrous effect on the economy.
Productive citizens and talented entrepreneurs left Zimbabwe in droves– after all, who would want to keep operating under such awful conditions?
So within a few years, everything from food production to mining output to manufacturing had plummeted.
The banking sector collapsed. Unemployment soared. Tax revenue dried up.
So Mugabe did what most politicians would do in that position: he started printing money.
This is an old trick that governments have relied on for thousands of years.
The ‘denarius’ coin of ancient Rome, for example, contained 93.5% silver in the early 100s AD under Emperor Trajan. By the time Aurelian became emperor the following century, the coin contained only 5% silver.
And as the denarius became less and less valuable, prices across the empire soared. Merchants had to keep increasing their prices in order to receive the same amount of silver that they used to… so inflation was rampant.
This is precisely what happened in Zimbabwe.
The government conjured absurd quantities of money out of thin air in order to make ends meet… but the new money had no value.
It’s not like the central bank was able to create new mining production or agricultural output. They just created a bunch of paper.
And with trillions upon trillions of new Zimbabwe dollars flooding into an economy that was suffering an extreme depression, prices started to skyrocket.
By 2000, Zimbabwe’s annual inflation rate was a whopping 55%.
The following year more than 110%. By 2003 inflation was nearly 600%… and nearly 1300% by 2006.
But the government continued printing money.
By 2008 the inflation rate in Zimbabwe was so extreme that no one could even calculate it anymore. Economists estimated that it was as high as 800 TRILLION percent.
In April 2009, the government finally threw in the towel… and the country’s economic planning minister announced that the Zimbabwe dollar would be taken out of circulation “because there is nothing to support and hold its value.”
Duh.
Frankly, this is the case whenever any country simply conjures new money out of thin air: there’s nothing to support or hold its value.
So for the next ten years, Zimbabwe did not have its own currency; people used dollars, euros, renminbi, South African rand… any other currency they could get their hands on.
I’ve been several times to Zimbabwe– and the only Zim dollars I ever saw were in souvenir shops or wallpaper in people’s bathrooms.
Then last year the government of Zimbabwe decided to give it another try… and they launched a new Zimbabwe dollar (technically called the RTGS dollar).
Go figure, they’re once again in hyperinflation, with the most recent statistics estimating an annual inflation rate of 785%, and climbing.
We are primarily funded by readers. Please subscribe and donate to support us!
This time, in addition to printing more money, the government has imposed strict capital controls. They suspended the stock exchange and have prohibited investors from pulling their money out.
They also shut down large parts of the local financial system a few days ago (which is dominated by mobile payment platforms) in order to prevent capital flight.
What’s truly remarkable, though, is that nearly every country around the world is following Zimbabwe’s example.
Central banks everywhere, across Asia, Latin America, Europe, and North America, have conjured trillions upon trillions of currency units out of thin air since the pandemic started.
In the United States alone, the Federal Reserve has expanded its balance sheet by $3 trillion since March… and they’re barely getting started.
Meanwhile the federal government’s debt has increased by the same amount– roughly $3 trillion since March– in its quest to bail out every last person across America.
$3 trillion. Just think about that.
I remember in the late 1990s when $1 billion was still considered a lot of money. If the government was found having wasted a few billion dollars, it was a really big deal.
Then over the next decade came 9/11, endless wars, and the Global Financial Crisis. Suddenly banks were being bailed out to the tune of $800 billion.
That was a shocking figure at first. But eventually people got used to it.
Today these politicians and central bankers are throwing around TRILLIONS of dollars, like it’s nothing.
The US runs trillion dollar deficits each year. The federal debt increased by half a trillion dollars in the last month alone, soaring past $26 trillion, and it doesn’t even make headlines anymore.
In the span of 20 years, $1 billion went from being a lot of money, to a rounding error… and now $1 trillion doesn’t even make the news.
Honestly this pandemic is a politician’s dream come true– they have a free pass to create limitless quantities of money to pay for whatever pet project they want.
Universal basic income? Print money. Free healthcare? Print money. New roads? Print money.
Economists call this “Modern Monetary Theory”, and the idea is that prosperity is created by printing money, not by hard work and value creation.
It’s extraordinary that very intelligent people believe in this nonsense.
But if MMT were true, then Zimbabwe should be the most prosperous nation on earth.
Yet this is literally the second time in the past 20 years that Zimbabwe has gone down this road of printing money, and then hyperinflation.
You’d think Zimbabwe would have learned its lesson. Or at a minimum, you’d think the rest of the world would look at the experiences in Zimbabwe and think, “Let’s never do that… ever.”
But that’s clearly not the case.
Policymakers around the world, including in the US and Europe, are racing to become Zimbabwe as quickly as they can.
But they’re crazy enough to expect a different outcome.
On another note… We think gold could DOUBLE and silver could increase by up to 5 TIMES in the next few years.
That’s why we published a new, 50-page long Ultimate Guide on Gold & Silver that you can download here.


investmentwatchblog--2020-07-02--The Euro area unemployment rate is much higher than the 7.4% reported today

A clear feature of the economic landscape post the Covid-19 pandemic is mass unemployment .
We should firstly note that this is and will continue to create quite a bit of suffering and angst .
Also that all the easing policies of the central banks over the past decade or so were supposed to avoid this sort of thing .
But if the system was a rubber band it had been stretched towards breaking point and now all they can do is pump it all up even more .
But for our purposes there is another issue which is that @ @ @ @ @ @ @ much unemployment there is or how long it will last .
Let me illustrate by looking at the numbers just release by Italy .
As you might expect employment fell in May .
Now the problems begin .
Firstly I recall that last time around we were told the unemployment rate was 6.3 % which has seen a substantial revision to 6.6 % .
There my sympathy is with the statisticians at a difficult time .
But for the next bit we have to suspend credulity .
If we look further back we @ @ @ @ @ @ @ pointed out last month the issue is how unemployment is defined .
The definition fails when you have a lockdown as some can not go to work and others quite reasonably think that there is no point .
If we assume that the rise in activity is all a type of hidden unemployment then we get an unemployment rate of 12.4 % in Italy .
Our estimate will be far from perfect so let us say we think it has risen from ~11 % last in April to more like 12 % in @ @ @ @ @ @ @ shown by youth unemployment .
The official reading is bad enough .
But if we apply the same methodology we get to a rather chilling 46.3 % .
The inactivity category here is huge at 4.6 million which I hope is pretty much students .
I have to confess that I am reminded of the Yes Prime Minister quote from the 1980s that education was mostly extended to reduce the unemployment numbers .
Anyway it is a blunt number but frankly will be much nearer than the official one .
Also there will @ @ @ @ @ @ @ little hope of a job post credit crunch as it was and it just got worse .
What we do learn is how few people are surveyed for these numbers .
If we switch to the Ministry of Labour we get a barrage of numbers .
These numbers look both more useful and realistic .
Things started to get better last month with around 309,000 new jobs but the Furlough scheme count in May of 6 million gives a perspective .
Also unemployment edged higher .
So we end up with this .
@ @ @ @ @ @ @ unemployment numbers as they fell into disrepute due to the way they can be manipulated and fiddled .
But right now they are doing better than the official series .
El Pais summarises it like this .
So we see that there are also still around 2.1 million people on the furlough scheme .
In total these benefits were paid out .
If we use these numbers are plug them into the official unemployment series we end up with an unemployment rate of 16.8 % .
This morning ’ s official release tells @ @ @ @ @ @ @ have an update on inactivity so we can have a go at getting a better picture .
We are promised more but not until next week .
As you have seen earlier this is a “ Houston we have a problem moment ” for unemployment data as it rigorously calculates the numbers on the wrong football pitch .
It creates problems highlighted by this tweet from Silvia Amaro of CNBC .
That creates the impression things are much better now when in fact they may well be worse .
Without the furlough schemes @ @ @ @ @ @ @ fo not know is how long it will last ?

by Shaun Richards
A clear feature of the economic landscape post the Covid-19 pandemic is mass unemployment. We should firstly note that this is and will continue to create quite a bit of suffering and angst. Also that all the easing policies of the central banks over the past decade or so were supposed to avoid this sort of thing. But if the system was a rubber band it had been stretched towards breaking point and now all they can do is pump it all up even more. But for our purposes there is another issue which is that we have little idea of either how much unemployment there is or how long it will last. Let me illustrate by looking at the numbers just release by Italy.
The Italian Job
As you might expect employment fell in May.
On a monthly basis, the decline of employment (-0.4%, -84 thousand) concerned more women ( 0.7%, 65 thousand) than men (-0.1%, -19 thousand), and brought the employment rate to 57.6% (-0.2 p.p.)…….With respect to the previous quarter, in the period March – May 2020, employment considerably decreased (-1.6%, 381 thousand) for both genders.
Also unemployment rose.
In the last month, also unemployed people grew (+18.9%, +307 thousand) more among women (+31.3%, +227 thousand) than men (+8.8%, +80 thousand). The unemployment rate rose to 7.8% (+1.2 percentage points) and the youth rate increased to 23.5% (+2.0 p.p.).
Now the problems begin. Firstly I recall that last time around we were told the unemployment rate was 6.3% which has seen a substantial revision to 6.6%. There my sympathy is with the statisticians at a difficult time. But for the next bit we have to suspend credulity.
In the last three months, also the number of unemployed persons decreased (-22.3%, -533 thousand), while a growth among inactive people aged 15-64 years was registered (+6.6%, +880 thousand).
If we look further back we just compound the issue.
On a yearly basis, the decrease of employed people was accompanied by a fall of unemployed persons (-25.7%, -669 thousand) and a growth of inactive people aged 15-64 (+8.7%, +1 million 140 thousand).
As I pointed out last month the issue is how unemployment is defined.
Unemployed persons: comprise persons aged 15-74 who:
were actively seeking work, i.e. had carried out activities in the four week period ending with the reference week
to seek paid employment or self-employment and were available to start working before the end of the two
weeks following the reference week;
The definition fails when you have a lockdown as some cannot go to work and others quite reasonably think that there is no point. If we assume that the rise in activity is all a type of hidden unemployment then we get an unemployment rate of 12.4% in Italy. Our estimate will be far from perfect so let us say we think it has risen from ~11% last in April to more like 12% in May.
An even grimmer situation is shown by youth unemployment. The official reading is bad enough.
the youth rate increased to 23.5% (+2.0 p.p.).
But if we apply the same methodology we get to a rather chilling 46.3%. The inactivity category here is huge at 4.6 million which I hope is pretty much students. I have to confess that I am reminded of the Yes Prime Minister quote from the 1980s that education was mostly extended to reduce the unemployment numbers. Anyway it is a blunt number but frankly will be much nearer than the official one. Also there will be many young Italians who have had little hope of a job post credit crunch as it was and it just got worse.
What we do learn is how few people are surveyed for these numbers.
The number of interviewed households for May 2020 is about 17,000 (almost equal to 35,500 individuals) and is
approximately 10% lower than the average number of interviews used for the production of estimates related to a
four-weeks month.
Spain
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If we switch to the Ministry of Labour we get a barrage of numbers.
Unemployment is reduced in all sectors except agriculture and among claimants “without previous employment”
There are fewer unemployed registered in ten autonomous communities
In June 308,985 more contracts were signed than in the previous month
Almost six million people received SEPE benefits in May.
These numbers look both more useful and realistic. Things started to get better last month with around 309,000 new jobs but the Furlough scheme count in May of 6 million gives a perspective. Also unemployment edged higher.
The registered unemployment in the offices of the State Public Employment Service (SEPE) has increased by 5,107 people compared to the previous month. This represents an increase of 0.1%, which deepens the trend of slowing down the growth rate of unemployment that began in May.
So we end up with this.
The total number of unemployed persons registered in the SEPE offices amount to 3,862,883.
There is an irony in using registered unemployment numbers as they fell into disrepute due to the way they can be manipulated and fiddled. But right now they are doing better than the official series. El Pais summarises it like this.
The total number of jobseekers in Spain has risen to 3.86 million, the highest figure registered since May 2016……The rise in unemployment for June is the first increase seen since 2008, just months before the fall of Lehman Brothers and the year of the financial crisis. The increase in contributors to the Social Security system for the month is also the smallest since 2015.
So we see that there are also still around 2.1 million people on the furlough scheme. In total these benefits were paid out.
In May, the SEPE paid 5,526 million euros in benefits, of which 3,318 million were dedicated to paying ERTE benefits and 2,208 million to unemployment benefits, both at the contributory and assistance level.
If we use these numbers are plug them into the official unemployment series we end up with an unemployment rate of 16.8%.
Euro Area
This morning’s official release tells us this.
In May 2020, a third month marked by COVID-19 containment measures in most Member States, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in April 2020……..Eurostat estimates that 14.366 million men and women in the EU, of whom 12.146 million in the euro area, were unemployed in May 2020. Compared with April 2020, the number of persons unemployed increased by 253 000 in the EU and by 159 000 in the euro area.
Unfortunately we do not have an update on inactivity so we can have a go at getting a better picture. We are promised more but not until next week.
To capture in full the unprecedented labour market situation triggered by the COVID-19 outbreak, the data on
unemployment will be complemented by additional indicators, e.g. on employment, underemployment and potential
additional labour force participants, when the LFS quarterly data for 2020 are published.
Comment
As you have seen earlier this is a “Houston we have a problem moment” for unemployment data as it rigorously calculates the numbers on the wrong football pitch. It creates problems highlighted by this tweet from Silvia Amaro of CNBC.
#unemployment in the euro zone came in at 7.4% in May. At the height of the debt crisis it reached 12.1%. #COVIDー19
That creates the impression things are much better now when in fact they may well be worse. Without the furlough schemes they certainly would be. What we fo not know is how long it will last?


investmentwatchblog--2020-07-02--Citigroup: Oil Will Never Return To $100

Crude oil prices are unlikely to return to three-digit levels ever again , Citigroup commodity analysts said in a note , as quoted by Bloomberg .
The idea of oil at $ 100 or higher , “ has far more fantasy than reality at its heart , ” the Citi analysts wrote , adding that over the long term , $ 45 per barrel of Brent was a far more likely oil price scenario than $ 60 a barrel .
In more pessimistic news , the Citi analysts said , “ Oil product demand growth will falter significantly , change @ @ @ @ @ @ @ rates of growth.
” They are not alone in this view of oil product demand after the pandemic erased close to a third of global oil demand at its height .
This demand has yet to recover , and many doubt it will recover fully to pre-pandemic levels .
Meanwhile , there are threats from supply , too .
Saudi Arabia appears to have threatened fellow OPEC members that it will start a price war again if they don ’ t do more to fall within their production quota under the OPEC+ agreement @ @ @ @ @ @ @ the global supply until the end of this month .
Even though OPEC ’ s production last month fell to the lowest in 30 years , this may not be enough to spur a stronger recovery in oil prices .
As a result , OPEC delegates told the Wall Street Journal that the cartel ’ s leader in all but name had told laggards it would open the taps if they didn ’ t fall in line .
Speaking of supply , Citi ’ s analysts noted in their forecast that with lower @ @ @ @ @ @ @ returning at levels of about $ 45 a barrel , which further made strong price rises even in the longer term unlikely .
Meanwhile , oil prices are again on the decline despite EIA ’ s inventory report , which estimated a sizeable drop in crude oil last week .
The decline was driven by rekindled fears of a resurgence in Covid-19 cases , especially in the United States .

By Irina Slav
Crude oil prices are unlikely to return to three-digit levels ever again, Citigroup commodity analysts said in a note, as quoted by Bloomberg.
The idea of oil at $100 or higher, “has far more fantasy than reality at its heart,” the Citi analysts wrote, adding that over the long term, $45 per barrel of Brent was a far more likely oil price scenario than $60 a barrel.
In more pessimistic news, the Citi analysts said, “Oil product demand growth will falter significantly, change its contours and never return to pre-covid-19 rates of growth.”
They are not alone in this view of oil product demand after the pandemic erased close to a third of global oil demand at its height. This demand has yet to recover, and many doubt it will recover fully to pre-pandemic levels.
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Meanwhile, there are threats from supply, too. Saudi Arabia appears to have threatened fellow OPEC members that it will start a price war again if they don’t do more to fall within their production quota under the OPEC+ agreement aiming to remove 9.7 million bpd from the global supply until the end of this month.
Even though OPEC’s production last month fell to the lowest in 30 years, this may not be enough to spur a stronger recovery in oil prices. As a result, OPEC delegates told the Wall Street Journal that the cartel’s leader in all but name had told laggards it would open the taps if they didn’t fall in line.
Speaking of supply, Citi’s analysts noted in their forecast that with lower production costs generally, production would begin returning at levels of about $45 a barrel, which further made strong price rises even in the longer term unlikely.
Meanwhile, oil prices are again on the decline despite EIA’s inventory report, which estimated a sizeable drop in crude oil last week. The decline was driven by rekindled fears of a resurgence in Covid-19 cases, especially in the United States.
By Irina Slav for Oilprice.com


investmentwatchblog--2020-07-02--BUST: Real estate prices fall sharply in New York

Even after a full quarter of sales data in the middle of the pandemic , it is difficult to define @ @ @ @ @ recovery .
More than 90 percent of second-quarter sales were actually signed before the virus @ @ @ @ @ , said Bess Freedman , managing director of brokerage firm Brown Harris Stevens .
“ @ @ @ @ @ what happens with schools at the end of the summer , ” said Freedman , @ @ @ @ @ children who have left town to escape the pandemic will choose to return if virtual @ @ @

Even after a full quarter of sales data in the middle of the pandemic, it is difficult to define the form of a possible recovery. More than 90 percent of second-quarter sales were actually signed before the virus hit New York in March, said Bess Freedman, managing director of brokerage firm Brown Harris Stevens.
“A lot will depend on what happens with schools at the end of the summer,” said Freedman, as few potential buyers with children who have left town to escape the pandemic will choose to return if virtual classes continue.


investmentwatchblog--2020-07-02--We should stop calling this “investing.” It’s gambling.

We should stop calling this `` investing . ''
It 's gambling .
t.co/xJYyDSh4pt

(1/n)
We should stop calling this "investing."
It's gambling. t.co/xJYyDSh4pt
— Jason Zweig (@jasonzweigwsj) July 2, 2020


investmentwatchblog--2020-07-02--Biggest jump in NFP but the average hourly earnings is falling apart

Biggest jump in NFP but the average hourly earnings is falling apart pic.twitter.com/q8cQQaqob4 This is my first big takeaway from @ @ @ @ @ .
Even as overall unemployment falls , the scale of permanent job loss is comparable @ @ @ @ @ , 2001-03 recession pic.twitter.com/MgHMC8OIj6 Temporary layoff unemployment continues to trend down , but more sustained @ @ @ @ @ pic.twitter.com/Gq9pXdq8Op Here we go .
We added 4.8 million jobs in June , but our @ @ @ @ @ crisis—we lost so many jobs in March and April that we are still 14.7 million @ @ @ @ @ in February .
1/ Unemployment rate falls to 11.1 % Wage growth +5 % yoy @ @ @ @ @ Labor force participation rate improves to 61.5 % Continuing claims above estimates at 19.29m Still @ @ @ @ @ heal the labor market pic.twitter.com/TKxEhXPp6W

Biggest jump in NFP but the average hourly earnings is falling apart pic.twitter.com/q8cQQaqob4
This is my first big takeaway from today's @BLS_gov report. Even as overall unemployment falls, the scale of permanent job loss is comparable to a "mild", 2001-03 recession pic.twitter.com/MgHMC8OIj6
Temporary layoff unemployment continues to trend down, but more sustained job loss is ticking up pic.twitter.com/Gq9pXdq8Op
Here we go. We added 4.8 million jobs in June, but our jobs level remains in absolute crisis—we lost so many jobs in March and April that we are still 14.7 million jobs below where we were in February. 1/
United States 🇺🇸adds 4.8 million jobs,much better than expected.
Unemployment rate falls to 11.1%
Wage growth +5% yoy despite -1.2% this month
Labor force participation rate improves to 61.5%
Continuing claims above estimates at 19.29m
Still a lot to do to heal the labor market pic.twitter.com/TKxEhXPp6W
— Daniel Lacalle (@dlacalle_IA) July 2, 2020


investmentwatchblog--2020-07-03--The Good, The Bad And The Ugly From The Latest U.S. Employment Numbers

Is the U.S. economy starting to rebound from the massive downturn that the coronavirus lockdowns caused ?
Some new employment numbers were released on Thursday , and they were very interesting .
Many are boldly declaring that these new numbers are fantastic news for the U.S. economy , but that is greatly oversimplifying matters .
So far in 2020 , tens of millions of Americans have lost their jobs , and we knew that millions of those jobs would eventually come back as COVID-19 restrictions were lifted .
And on Thursday , we received confirmation that millions of those jobs @ @ @ @ @ @ @ , this is good news .
But it also appears that the numbers are not entirely accurate , and we will discuss that more in just a bit .
But first , I wanted to point out that the main reason why payrolls rose by 4.8 million was because the number of Americans that were classified as being temporarily laid off declined by 4.8 million last month .
At the same time , the number of permanent job losses last month actually rose by more than half a million compared to the month @ @ @ @ @ @ @ of the jobless rate was a plunge in those on temporary layoff .
That total fell by 4.8 million in June to 10.6 million after a decrease of 2.7 million in May .
The short-term jobless level fell by 1 million to 2.8 million .
However , those reporting permanent job losses also jumped , rising by 588,000 to 2.883 million , the highest level in more than six years .
This is clearly bad news .
It was expected that millions of those that had been temporarily laid off would start going @ @ @ @ @ @ @ what we didn ’ t expect was a huge spike in the number of permanent job losses .
And now let ’ s get to the “ ugly ” portion of the numbers .
On Thursday , we learned that 1.427 million more Americans filed new claims for unemployment benefits last week , and the number of unemployed workers filing continuing claims actually went up… That is not what a “ recovering ” economy looks like .
In fact , those numbers are absolutely abysmal .
I keep reminding my readers that prior @ @ @ @ @ @ @ new unemployment claims was set in 1982 when 695,000 Americans filed in a single week .
The number for last week was more than double that old record , and we have now more than doubled that old record for 15 weeks in a row .
Can anyone out there explain to me how the economy is possibly “ recovering ” when Americans continue to file for unemployment at levels that are way beyond anything that we have ever seen before in all of U.S. history ?
Overall , more than 48 million @ @ @ @ @ @ @ unemployment benefits over the past 15 weeks .
But the Bureau of Labor Statistics would have us believe that only 17.75 million Americans are currently unemployed even though the number of Americans that are filing continuing claims for unemployment is far greater than that .
This point was brilliantly made by Zero Hedge earlier today… By its very definition , insured unemployment is a subset of all Americans who are unemployed .
In a Venn diagram , the Continuing Claims circle would fit entirely inside the “ Unemployed ” circle , which also @ @ @ @ @ @ @ and countless other unemployed Americans who are no longer eligible for any benefits .
Alas , as of this moment , the definitionally smaller circle is bigger than “ bigger ” one , and as the DOL reported today , there were 19.29 million workers receiving unemployment insurance .
And yet , somehow , at the same time the BLS also represented that the total number of unemployed workers is , drumroll , 17.75 million .
If you said this makes no sense , and pointed out that the unemployment insurance number has @ @ @ @ @ @ @ number , then you are right .
And indeed , for 50 years of data , that was precisely the case .
By putting out such absurd numbers , the BLS is starting lose any credibility that it had left , and that is incredibly sad .
Meanwhile , fear of the coronavirus is causing some states to start instituting fresh restrictions , and it appears that this is causing U.S. economic activity to slow down once again… In other words , we should expect the economic numbers for July to be quite @ @ @ @ @ @ @ wave of fear is sweeping across the nation .
The number of confirmed cases of COVID-19 has surged dramatically in recent days , and according to Gallup more Americans than ever believe that the pandemic is “ getting worse ” … What this means is that economic activity is going to remain at very depressed levels for the foreseeable future .
Without enough revenue coming in , more businesses will fail and more workers will lose their jobs .
Without jobs , many Americans will not be able to pay their bills , @ @ @ @ @ @ @ of pressure on financial institutions .
The truth is that the economic outlook has not improved one bit .
If anything , it has actually deteriorated over the past couple of weeks .
Fear of COVID-19 has plunged us into a new economic depression , and it looks like fear of COVID-19 will keep us in one for the rest of 2020 and beyond .

by Michael Snyder
Is the U.S. economy starting to rebound from the massive downturn that the coronavirus lockdowns caused? Some new employment numbers were released on Thursday, and they were very interesting. Many are boldly declaring that these new numbers are fantastic news for the U.S. economy, but that is greatly oversimplifying matters. So far in 2020, tens of millions of Americans have lost their jobs, and we knew that millions of those jobs would eventually come back as COVID-19 restrictions were lifted. And on Thursday, we received confirmation that millions of those jobs are indeed coming back…
Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday.
Without a doubt, this is good news. But it also appears that the numbers are not entirely accurate, and we will discuss that more in just a bit.
But first, I wanted to point out that the main reason why payrolls rose by 4.8 million was because the number of Americans that were classified as being temporarily laid off declined by 4.8 million last month. At the same time, the number of permanent job losses last month actually rose by more than half a million compared to the month before…
Another big contributor to the decline of the jobless rate was a plunge in those on temporary layoff. That total fell by 4.8 million in June to 10.6 million after a decrease of 2.7 million in May. The short-term jobless level fell by 1 million to 2.8 million. However, those reporting permanent job losses also jumped, rising by 588,000 to 2.883 million, the highest level in more than six years.
This is clearly bad news. It was expected that millions of those that had been temporarily laid off would start going back to their old jobs, but what we didn’t expect was a huge spike in the number of permanent job losses.
And now let’s get to the “ugly” portion of the numbers.
On Thursday, we learned that 1.427 million more Americans filed new claims for unemployment benefits last week, and the number of unemployed workers filing continuing claims actually went up…
Indeed, new jobless claims remained stubbornly high last week, with another 1.427 million Americans filing, above the estimate of 1.38 million, the Labor Department said in a separate report Thursday. Continuing claims actually increased by 59,000 to 19.3 million, highlighting the jobless problem likely exacerbated by the ongoing presence of the virus and its economic impact.
That is not what a “recovering” economy looks like.
In fact, those numbers are absolutely abysmal.
I keep reminding my readers that prior to this year the all-time record for new unemployment claims was set in 1982 when 695,000 Americans filed in a single week. The number for last week was more than double that old record, and we have now more than doubled that old record for 15 weeks in a row.
Can anyone out there explain to me how the economy is possibly “recovering” when Americans continue to file for unemployment at levels that are way beyond anything that we have ever seen before in all of U.S. history?
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Overall, more than 48 million Americans have now filed new claims for unemployment benefits over the past 15 weeks.
But the Bureau of Labor Statistics would have us believe that only 17.75 million Americans are currently unemployed even though the number of Americans that are filing continuing claims for unemployment is far greater than that. This point was brilliantly made by Zero Hedge earlier today…
By its very definition, insured unemployment is a subset of all Americans who are unemployed. In a Venn diagram, the Continuing Claims circle would fit entirely inside the “Unemployed” circle, which also includes Initial Claims, Continuing Claims, and countless other unemployed Americans who are no longer eligible for any benefits. Alas, as of this moment, the definitionally smaller circle is bigger than “bigger” one, and as the DOL reported today, there were 19.29 million workers receiving unemployment insurance. And yet, somehow, at the same time the BLS also represented that the total number of unemployed workers is, drumroll, 17.75 million. If you said this makes no sense, and pointed out that the unemployment insurance number has to be smaller than the total unemployed number, then you are right. And indeed, for 50 years of data, that was precisely the case.
By putting out such absurd numbers, the BLS is starting lose any credibility that it had left, and that is incredibly sad.
Meanwhile, fear of the coronavirus is causing some states to start instituting fresh restrictions, and it appears that this is causing U.S. economic activity to slow down once again…
High-frequency data assembled by Federal Reserve officials, economists, cellphone tracking companies, and employee time management firms suggests activity slowed in recent days, clouding a strong U.S. employment report that may prove to have been driven by an exuberant start to the month as states reopened.
In other words, we should expect the economic numbers for July to be quite dismal.
Right now, a fresh wave of fear is sweeping across the nation. The number of confirmed cases of COVID-19 has surged dramatically in recent days, and according to Gallup more Americans than ever believe that the pandemic is “getting worse”…
As coronavirus infections are spiking in U.S. states that previously had not been hard-hit, a new high of 65% of U.S. adults say the coronavirus situation is getting worse. The percentage of Americans who believe the situation is getting worse has increased from 48% the preceding week, and from 37% two weeks prior.
What this means is that economic activity is going to remain at very depressed levels for the foreseeable future.
Without enough revenue coming in, more businesses will fail and more workers will lose their jobs. Without jobs, many Americans will not be able to pay their bills, and this will put an immense amount of pressure on financial institutions.
The truth is that the economic outlook has not improved one bit. If anything, it has actually deteriorated over the past couple of weeks.
Fear of COVID-19 has plunged us into a new economic depression, and it looks like fear of COVID-19 will keep us in one for the rest of 2020 and beyond.