investmentwatchblog--2020-07-01--We Haven’t Seen Disruption Like This Since the 1930s, Says Chris Whalen

“ Social distancing means financial Armageddon for commercial real estate and municipalities in coming months , ” wrote Chris Whalen .
He recently joined FS Insider to discuss this financial disaster as well as its societal effects .
Chris is the chairman of Whalen Global Advisors and the editor of the Institutional Risk Analyst .
See below for excerpts from his interview .
A Business Insider survey found that more than two-thirds of companies could be working from home forever .
What do you do with all that extra office space ?
You don ’ t use it .
And @ @ @ @ @ @ @ know , New York was built by the Dutch and it was built for density .
It was laid out in a grid intentionally .
They wanted people to be close and be able to get from here to there .
Remember , New York is an old city , the stock of housing here is old .
There are a lot of old office buildings in this city , and I just don ’ t think they ’ re going to have any utility in this world of , shall we say @ @ @ @ @ @ @ we talked about that as a voluntary evolution .
Now , I think it ’ s going to be mandatory , because there ’ s no commercial owner out there who ’ s going to let people into a building unless they sign a waiver .
So , imagine theaters and other types of buildings that are set up for the public .
We ’ re very involved in the arts community here in New York .
All of the major ballet companies are not working .
American Ballet Theater and New York @ @ @ @ @ @ @ ’ re doing stuff online , but that ’ s not going to make it work .
It ’ s the same issue with high-end restaurants that can ’ t do takeout or won ’ t do it .
If you have to cut density in half , we ’ re going to double prices .
That ’ s it .
There are a lot of rigidities here in the marketplace that are not going to change immediately .
I have several friends in the restaurant business and what they ’ ve done @ @ @ @ @ @ @ their waitstaff and they went to 100 % pickup and delivery .
And they can survive , because their costs have come down so much in terms of labor .
But what do we do with these people ?
You know , you look at these protests for Black Lives Matter and the horrible things that have happened in Minnesota and Georgia .
And most of these are kids .
These are kids who were working as freelancers , who were working in restaurants and other types of service businesses because they were @ @ @ @ @ @ @ That whole sector of the economy is gone .
What are we going to do with those kids ?
It ’ s a huge problem .
It ’ s a social problem .
And it ’ s an economic problem that nobody anticipated…this is a black swan .
This is what Nassim Taleb wrote about .
It ’ s totally out of left field .
You recently wrote that the commercial real estate sector is facing a financial Armageddon .
Can you explain that ?
It ’ s going to be a case @ @ @ @ @ @ @ try and explain .
In the world of residential mortgages , we make observations and generalizations at the pool level , thousands of mortgages .
And since the credit is all the same , most of them are guaranteed by some government agency .
It ’ s easy to do that .
Commercial real estate , though , is totally different .
With commercial real estate , in many cases these are large loans and they will oftentimes have properties where there are multiple tenants .
So , in other words , to @ @ @ @ @ @ @ office space , whatever it is , you look at the building , you look at the amount of debt , and then you look at the rent rolls , how much they get paid .
You look at the taxes , all these components .
Now , there are times when you could have a commercial property that is underutilized , that is not fully let and they can still survive .
In other words , they throw off enough income that they can pay the taxes and keep the lights on @ @ @ @ @ @ @ you have mass disruption of all these small and midsize companies , many of which are tenants and , in some cases , they own the property .
That creates a big problem because it ’ s not just a specific geography .
It ’ s not just a specific , narrow slice of the world .
It ’ s a horizontal slice of the world .
That ’ s why I use that kind of grim terminology because we haven ’ t seen this kind of disruption since the 1930s .
It @ @ @ @ @ @ @ .
I think it ’ s important for people to understand that while the financial system in the U.S. is well capitalized , and while they are going to be able to plow through it , it is going to be ugly .
For certain bond investors particularly , it ’ s going to be extremely difficult because these deals will have to be restructured .
And when you use that word , it gets people ’ s attention .
All the major agencies do great research on what are called commercial mortgage @ @ @ @ @ @ @ when the deal is first done and then they have surveillance reports as they go .
These reports are very interesting because they show you the detail you have to get into .
They look at the mall , they look at the tenants in the mall .
They look at the other factors , like are people coming to the mall , how ’ s traffic , those kinds of things .
You have to analyze each one of these loans individually and that ’ s what makes it so laborious .
@ @ @ @ @ @ @ cottage industry by the way of the major rating agencies and other firms that just do this .
They just follow the credit of this asset class because it ’ s big .
It ’ s a couple trillion dollars for the securitized commercial mortgages .
What are some of the ripple effects you expect to come from this ?
I think it ’ s going to slow down the economic recovery .
The financial markets bounced back in large part because the amount of liquidity the Fed is pumping into the system @ @ @ @ @ @ @ striking .
We saw deposit growth in double digits in the first quarter of this year , and that ’ s just the last two weeks of March .
Just imagine what that ’ s going to look like as we get to second quarter earnings .
But I think , overall , what we ’ re dealing with in commercial real estate is to some degree a symptom .
It ’ s related to a much broader problem , which is a disruption in services and the disruption in other industry sectors @ @ @ @ @ @ @ ’ s going to be medium to long term .
I just don ’ t see these restaurants and these other public establishments coming back soon .
You have to realize that when somebody opens a little bodega , or any kind of establishment like that , they usually don ’ t have a lot of capital .
And it ’ s the vendors who extend them credit and say , here , I ’ ll give you a delivery or soda , or whatever it is , right , to get something @ @ @ @ @ @ @ .
Over time , hopefully , they can build a little nest egg .
But small businesses don ’ t make a lot of money , especially in New York City , where it ’ s very costly to deal with the city and all the other regulatory elements .
I think politicians naturally are going to have to become more business friendly .
When we put aside the progressive rhetoric , we ’ re going to have to find jobs for people because the federal government can ’ t subsidize this forever @ @ @ @ @ @ @ .
I think that ’ s going to represent an interesting opportunity for new leaders to come in and start talking in realistic terms about what we have to do to help these communities get back on their feet .
You have hundreds of thousands of people right now that don ’ t have any employment .
What are we going to do with them ?
This is a 1930s scale problem and I think the government needs to think in those terms… To listen to our full-length interview with Chris Whalen click @ @ @ @ @ @ @ already a subscriber to our FS Insider podcast where we interview book authors , strategists and industry experts from across the globe on all things economics , finance and markets…

by FS
“Social distancing means financial Armageddon for commercial real estate and municipalities in coming months,” wrote Chris Whalen. He recently joined FS Insider to discuss this financial disaster as well as its societal effects. Chris is the chairman of Whalen Global Advisors and the editor of the Institutional Risk Analyst. See below for excerpts from his interview.
We are primarily funded by readers. Please subscribe and donate to support us!
For audio, see Commercial Real Estate Facing a Big Price Adjustment, Warns Chris Whalen.
A Business Insider survey found that more than two-thirds of companies could be working from home forever. What do you do with all that extra office space?
You don’t use it. And the pricing has to change. You know, New York was built by the Dutch and it was built for density. It was laid out in a grid intentionally. They wanted people to be close and be able to get from here to there. Remember, New York is an old city, the stock of housing here is old. There are a lot of old office buildings in this city, and I just don’t think they’re going to have any utility in this world of, shall we say, mobility. In the past, we talked about that as a voluntary evolution. Now, I think it’s going to be mandatory, because there’s no commercial owner out there who’s going to let people into a building unless they sign a waiver. So, imagine theaters and other types of buildings that are set up for the public. We’re very involved in the arts community here in New York. All of the major ballet companies are not working. American Ballet Theater and New York City Ballet—they cannot perform. They’re doing stuff online, but that’s not going to make it work. It’s the same issue with high-end restaurants that can’t do takeout or won’t do it. If you have to cut density in half, we’re going to double prices. That’s it. There are a lot of rigidities here in the marketplace that are not going to change immediately. I have several friends in the restaurant business and what they’ve done is they’ve gotten rid of their waitstaff and they went to 100% pickup and delivery. And they can survive, because their costs have come down so much in terms of labor. But what do we do with these people? You know, you look at these protests for Black Lives Matter and the horrible things that have happened in Minnesota and Georgia. And most of these are kids. These are kids who were working as freelancers, who were working in restaurants and other types of service businesses because they were trying to get started in life. That whole sector of the economy is gone. What are we going to do with those kids? It’s a huge problem. It’s a social problem. And it’s an economic problem that nobody anticipated…this is a black swan. This is what Nassim Taleb wrote about. It’s totally out of left field.
You recently wrote that the commercial real estate sector is facing a financial Armageddon. Can you explain that?
It’s going to be a case by case analysis and I’ll try and explain. In the world of residential mortgages, we make observations and generalizations at the pool level, thousands of mortgages. And since the credit is all the same, most of them are guaranteed by some government agency. It’s easy to do that. Commercial real estate, though, is totally different. With commercial real estate, in many cases these are large loans and they will oftentimes have properties where there are multiple tenants. So, in other words, to assess the credit of retail space, office space, whatever it is, you look at the building, you look at the amount of debt, and then you look at the rent rolls, how much they get paid. You look at the taxes, all these components. Now, there are times when you could have a commercial property that is underutilized, that is not fully let and they can still survive. In other words, they throw off enough income that they can pay the taxes and keep the lights on. But, in this case, you have mass disruption of all these small and midsize companies, many of which are tenants and, in some cases, they own the property. That creates a big problem because it’s not just a specific geography. It’s not just a specific, narrow slice of the world. It’s a horizontal slice of the world. That’s why I use that kind of grim terminology because we haven’t seen this kind of disruption since the 1930s. It really goes back to the Great Depression. I think it’s important for people to understand that while the financial system in the U.S. is well capitalized, and while they are going to be able to plow through it, it is going to be ugly. For certain bond investors particularly, it’s going to be extremely difficult because these deals will have to be restructured. And when you use that word, it gets people’s attention. All the major agencies do great research on what are called commercial mortgage backed securities. They put out reports when the deal is first done and then they have surveillance reports as they go. These reports are very interesting because they show you the detail you have to get into. They look at the mall, they look at the tenants in the mall. They look at the other factors, like are people coming to the mall, how’s traffic, those kinds of things. You have to analyze each one of these loans individually and that’s what makes it so laborious. That’s why you have a cottage industry by the way of the major rating agencies and other firms that just do this. They just follow the credit of this asset class because it’s big. It’s a couple trillion dollars for the securitized commercial mortgages.
What are some of the ripple effects you expect to come from this?
I think it’s going to slow down the economic recovery. The financial markets bounced back in large part because the amount of liquidity the Fed is pumping into the system right now. It’s quite striking. We saw deposit growth in double digits in the first quarter of this year, and that’s just the last two weeks of March. Just imagine what that’s going to look like as we get to second quarter earnings. But I think, overall, what we’re dealing with in commercial real estate is to some degree a symptom. It’s related to a much broader problem, which is a disruption in services and the disruption in other industry sectors that are adjacent to services and it’s going to be medium to long term. I just don’t see these restaurants and these other public establishments coming back soon. You have to realize that when somebody opens a little bodega, or any kind of establishment like that, they usually don’t have a lot of capital. And it’s the vendors who extend them credit and say, here, I’ll give you a delivery or soda, or whatever it is, right, to get something started, and they start making money. Over time, hopefully, they can build a little nest egg. But small businesses don’t make a lot of money, especially in New York City, where it’s very costly to deal with the city and all the other regulatory elements. I think politicians naturally are going to have to become more business friendly. When we put aside the progressive rhetoric, we’re going to have to find jobs for people because the federal government can’t subsidize this forever and the states certainly can’t. I think that’s going to represent an interesting opportunity for new leaders to come in and start talking in realistic terms about what we have to do to help these communities get back on their feet. You have hundreds of thousands of people right now that don’t have any employment. What are we going to do with them? This is a 1930s scale problem and I think the government needs to think in those terms…
To listen to our full-length interview with Chris Whalen click here. If you’re not already a subscriber to our FS Insider podcast where we interview book authors, strategists and industry experts from across the globe on all things economics, finance and markets…


investmentwatchblog--2020-07-01--PREPARE FOR FOOD SHORTAGES: MEAT PROCESSING PLANTS COVID-19 “HOTSPOTS”

The upcoming food shortages are predictive programming at it ’ s finest .
The mainstream media is ramping up their stories about increased infections at meat processing plants .
They are literally telling us what they are doing , and most Americans are oblivious to it .
These food shortages will be completely concocted , and if you think for one second that any politician will be short food , you should put the mask on and stay at home afraid of your very existence .
They have had this planned for a while now , but the fake “ @ @ @ @ @ @ @ an excuse to shut down meat processing plants .
According to propaganda outlet , CNN , officials said Tuesday that 1,553 workers at the meatpacking plant owned by Germany ’ s Tönnies Group have tested positive for coronavirus .
That ’ s up from 1,331 on Sunday .
The plant is situated in Gütersloh , a city in the west of the country , which is now reintroducing lockdown restrictions until the end of June .
Other processing plants have already said “ the virus ” has caused the food supply chain to @ @ @ @ @ @ @ buy meat in the coming months , the prices will be sky-high .
Not only thanks to the hyperinflation due to money creation out of thin air by the central bank , but the economic law of supply and demand .
Meat processing plants are going to dramatically slow down production if they aren ’ t shut down due to the “ second wave ” as politicians try to desperately to get people to acquiesce in a state of fear .
As I ’ ve said before , be mindful of what they @ @ @ @ @ @ @ your freedom for a pork chop .
It won ’ t be worth it .
Learn to hunt , be self-sufficient , and wake up and take notice .
The best thing you can do right now is to improve on any level your self-sufficiency , especially when it comes to food and water .
Stock up on anything you can barter .
I have been getting Quick Clot , olive oil , and coconut oil .
Often these mainstream media outlets use predictive programming to alert the public to what will be @ @ @ @ @ @ @ Pay attention , but don ’ t live in fear .
They need you to be afraid or you will not go with them willingly .
None of this is being done by accident .
It ’ s all by design .
It ’ s a war for your mind and spirit .
Don ’ t let them break either .

by Mac Slavo of SHTFplan
The upcoming food shortages are predictive programming at it’s finest. The mainstream media is ramping up their stories about increased infections at meat processing plants. They are literally telling us what they are doing, and most Americans are oblivious to it.
These food shortages will be completely concocted, and if you think for one second that any politician will be short food, you should put the mask on and stay at home afraid of your very existence.
Prepping For The Upcoming Government-Induced Food Shortages
They have had this planned for a while now, but the fake “second wave” will now give them an excuse to shut down meat processing plants. According to propaganda outlet, CNN, officials said Tuesday that 1,553 workers at the meatpacking plant owned by Germany’s Tönnies Group have tested positive for coronavirus. That’s up from 1,331 on Sunday. The plant is situated in Gütersloh, a city in the west of the country, which is now reintroducing lockdown restrictions until the end of June.
Other processing plants have already said “the virus” has caused the food supply chain to break down.
We are primarily funded by readers. Please subscribe and donate to support us!
Tyson Foods Warns “Food Supply Chain Is Breaking”
Even if you can buy meat in the coming months, the prices will be sky-high. Not only thanks to the hyperinflation due to money creation out of thin air by the central bank, but the economic law of supply and demand. Meat processing plants are going to dramatically slow down production if they aren’t shut down due to the “second wave” as politicians try to desperately to get people to acquiesce in a state of fear.
As I’ve said before, be mindful of what they are doing. Don’t exchange your freedom for a pork chop. It won’t be worth it. Learn to hunt, be self-sufficient, and wake up and take notice. The best thing you can do right now is to improve on any level your self-sufficiency, especially when it comes to food and water. Stock up on anything you can barter. I have been getting Quick Clot, olive oil, and coconut oil.
Often these mainstream media outlets use predictive programming to alert the public to what will be done to them in the future. Pay attention, but don’t live in fear. They need you to be afraid or you will not go with them willingly.
None of this is being done by accident. It’s all by design. It’s a war for your mind and spirit. Don’t let them break either.


investmentwatchblog--2020-07-01--Is Japan the future for all of us?

Is Japan the future for all of us?

A regular feature of these times is to compare our economic performance with that of Japan .
That has propped up pretty regularly in this crisis mostly about the Euro area but with sub-plots for the US and UK .
One group that will be happy about this with be The Vapors and I wonder how much they have made out of it ?
The two basic concepts here are interrelated and are of Deflation and what was called The Lost Decade but now are The Lost Decades .
These matters are more nuanced that usually presented so let me @ @ @ @ @ @ @ in aggregate demand in an economy .
According to the latest Bank of Japan Minutes this is happening again .
The latter point echoes a discussion from the comments section yesterday about an extension to the railway to the Scottish Borders .
Before COVID-19 anything like that would come with a round of applause but now there are genuine questions about public transport for the future .
There is an irony close to me as I have lived in Battersea for nearly 3 decades and a tube line there has been promised for @ @ @ @ @ @ @ on its way will it get much use ?
This is a difficult conceptual issue because if we build “ White Elephants ” they will be counted in GDP ( it is both output and income ) , but if they are not used the money is to some extent wasted .
I differ to that extent from the view of John Maynard Keynes that you can dig and hole and fill it in .
If that worked we would not be where we are now .
In the credit crunch we saw @ @ @ @ @ @ @ in Ireland , the unused airport in Spain and roads to nowhere in Portugal .
That was before China built empty cities .
There is something of a double swerve applied here which I will illustrate from the Bank of Japan Minutes again .
A 2 % inflation target has nothing at all to do with deflation and this should be challenged more , especially when it has this Orwellian element .
It is not a price stability target it is an inflation rate target .
This is of particular relevance in Japan @ @ @ @ @ @ @ much throughout the lost decade period .
It is up by 0.1 % in the past year and at 101.8 if we take 2015 as 100 , so marginal at most .
The undercut to this is that you need inflation for relative price changes .
But this is also untrue as the essentially inflation-free Japan has a food price index at 105.8 and an education one of 92.7 .
The issue here is that as you can see above there has been a complete failure but that has not stopped other central @ @ @ @ @ @ @ .
It is what is missing from the statement below that is revealing .
No mention of negative interest-rates ?
Also the large-scale purchases of Japanese Government Bonds only get an implicit mention .
Whereas by contrast the purchase of equities as in this coded language that is what “ active purchases of assets such as exchange-traded funds ( ETFs ) ” means gets highlighted .
The 0.1 % will be happy but as any asset price rise is omitted from the inflation indices it is entirely pointless according to their stated objective @ @ @ @ @ @ @ matters because pretty much every central bank has put on their running shoes and set off in pursuit of the Bank of Japan .
Ever more interest-rate cuts and ever more QE bond buying .
Perhaps the most extreme case is the ECB ( European Central Bank ) with its -0.5 % Deposit Rate and large-scale QE .
On the latter subject it seems to be actively mirroring Japan .
This is a regular tactic of hinting at reductions whereas the reality invariably ends up on the Andrea True Connection road .
Staying @ @ @ @ @ @ @ unveiled all sorts of policies and has a balance sheet of 6.2 trillion Euros but keeps missing its stated target .
We noted recently that over the past decade or so they have been around 0.7 % per year below it and that is not getting any better .
This to my mind is the bigger issue .
It used to be the case ( in what was called the NICE era by former Bank of England Governor Mervyn King ) that wages grew faster than wages by 1-2 % per annum .
@ @ @ @ @ @ @ crunch and since there have been real problems .
The state of play for the leader of the pack here has been highlighted by Nippon.com .
They mean 2 % and everyone else seems to be heading that way .
The UK has gone from around $ 39,000 to the same as France at $ 44.500 .
There is an obvious issue in using another currency but we have the general picture and right now it is getting worse everywhere .
The answers to the question in my title unfold as follows .
@ @ @ @ @ @ @ have an unequivocal yes .
They have copied Japan as much as they can showing they have learnt nothing .
We could replace them with an AI version ( with the hope that the I of Intelligence might apply ) .
Related to this is the inflation issue where all the evidence is that they will continue to fail .
We have here an example of failure squared where they pursue policies that do not work in pursuit of an objective which would make people worse rather than better off .
That last @ @ @ @ @ @ @ in my opinion is the key one of our times .
The Ivory Towers of the central banks still pursue policies where wages growth exceeds inflation and their models assume it .
Perhaps because for them it is true .
But for the rest of us it is not as real wages have struggled at best and fallen at worst .
This is in spite of the increasingly desperate manipulation of inflation numbers that has been going on .
So we see different elements in different places .
The Euro area is heading @ @ @ @ @ @ @ terms of inflation and apart from Germany wages too .
The UK is an inflation nation so that part we are if not immune a step or two away from , but that means our real wage performance is looking rather Japanese .
There is also another sub-plot .

by Shaun Richards
A regular feature of these times is to compare our economic performance with that of Japan. That has propped up pretty regularly in this crisis mostly about the Euro area but with sub-plots for the US and UK. One group that will be happy about this with be The Vapors and I wonder how much they have made out of it?
I’m turning Japanese, I think I’m turning Japanese
I really think so
Turning Japanese, I think I’m turning Japanese
I really think so.
The two basic concepts here are interrelated and are of Deflation and what was called The Lost Decade but now are The Lost Decades. These matters are more nuanced that usually presented so let me start with Deflation which is a fall in aggregate demand in an economy. According to the latest Bank of Japan Minutes this is happening again.
This is because aggregate demand is
highly likely to be pushed down by deterioration in the labor market and the utilization rate of conventional types of services could decline given a new lifestyle that takes into
consideration the risk of COVID-19.
The latter point echoes a discussion from the comments section yesterday about an extension to the railway to the Scottish Borders. Before COVID-19 anything like that would come with a round of applause but now there are genuine questions about public transport for the future. There is an irony close to me as I have lived in Battersea for nearly 3 decades and a tube line there has been promised for most of that. Now it is on its way will it get much use?
This is a difficult conceptual issue because if we build “White Elephants” they will be counted in GDP ( it is both output and income), but if they are not used the money is to some extent wasted. I differ to that extent from the view of John Maynard Keynes that you can dig and hole and fill it in. If that worked we would not be where we are now. In the credit crunch we saw facets of this with the empty hotels in Ireland, the unused airport in Spain and roads to nowhere in Portugal. That was before China built empty cities.
Inflation Deflation
There is something of a double swerve applied here which I will illustrate from the Bank of Japan Minutes again.
Next, the three arrows of Abenomics should continue to be carried out to the fullest extent until the economy returns to a growth path in which the annual inflation
rate is maintained sustainably at around 2 percent.
A 2% inflation target has nothing at all to do with deflation and this should be challenged more, especially when it has this Orwellian element.
It is assumed that achievement of the price stability target will be delayed due to COVID-19
and that monetary easing will be prolonged further
It is not a price stability target it is an inflation rate target. This is of particular relevance in Japan as it has had stable prices pretty much throughout the lost decade period. It is up by 0.1% in the past year and at 101.8 if we take 2015 as 100, so marginal at most. The undercut to this is that you need inflation for relative price changes. But this is also untrue as the essentially inflation-free Japan has a food price index at 105.8 and an education one of 92.7.
Policy Failure
The issue here is that as you can see above there has been a complete failure but that has not stopped other central banks from speeding down the failure road. It is what is missing from the statement below that is revealing.
: the Special Program to Support Financing in Response to the Novel Coronavirus (COVID-19); an ample provision of
yen and foreign currency funds without setting upper limits; and active purchases of assets such as exchange-traded funds (ETFs).
No mention of negative interest-rates? Also the large-scale purchases of Japanese Government Bonds only get an implicit mention. Whereas by contrast the purchase of equities as in this coded language that is what “active purchases of assets such as exchange-traded funds (ETFs)” means gets highlighted. The 0.1% will be happy but as any asset price rise is omitted from the inflation indices it is entirely pointless according to their stated objective. No wonder they keep failing…
This matters because pretty much every central bank has put on their running shoes and set off in pursuit of the Bank of Japan. Ever more interest-rate cuts and ever more QE bond buying. Perhaps the most extreme case is the ECB (European Central Bank) with its -0.5% Deposit Rate and large-scale QE. On the latter subject it seems to be actively mirroring Japan.
We are primarily funded by readers. Please subscribe and donate to support us!
The ECB may not need to use the full size of its recently expanded pandemic purchase program, Executive Board member Isabel Schnabel says ( Bloomberg)
This is a regular tactic of hinting at reductions whereas the reality invariably ends up on the Andrea True Connection road.
More! More! More!
Staying with the Euro area the ECB has unveiled all sorts of policies and has a balance sheet of 6.2 trillion Euros but keeps missing its stated target. We noted recently that over the past decade or so they have been around 0.7% per year below it and that is not getting any better.
In June 2020, a month in which many COVID-19 containment measures have been gradually lifted, Euro area annual inflation is expected to be 0.3%, up from 0.1% in May ( Eurostat )
Real Wage Deflation
This to my mind is the bigger issue. It used to be the case ( in what was called the NICE era by former Bank of England Governor Mervyn King) that wages grew faster than wages by 1-2% per annum. That was fading out before the credit crunch and since there have been real problems. The state of play for the leader of the pack here has been highlighted by Nippon.com.
Wage growth in Japan is also slow compared with other major economies. According to statistics published by the Organization for Economic Cooperation and Development, the average Japanese annual wage in 2018 was the equivalent of $46,000—a mere 0.2% increase on the figure for 2000 ($45,000).
They mean 2% and everyone else seems to be heading that way.
This increase is significantly smaller than those recorded in the same period in the United States ($53,900 to 63,100), Germany ($43,300 to 49,800), and France ($37,100 to 44,500).
The UK has gone from around $39,000 to the same as France at $44.500.
There is an obvious issue in using another currency but we have the general picture and right now it is getting worse everywhere.
Comment
The answers to the question in my title unfold as follows. In terms of central bank action we have an unequivocal yes. They have copied Japan as much as they can showing they have learnt nothing. We could replace them with an AI version ( with the hope that the I of Intelligence might apply). Related to this is the inflation issue where all the evidence is that they will continue to fail. We have here an example of failure squared where they pursue policies that do not work in pursuit of an objective which would make people worse rather than better off.
That last point feeds into the wages issue which in my opinion is the key one of our times. The Ivory Towers of the central banks still pursue policies where wages growth exceeds inflation and their models assume it. Perhaps because for them it is true. But for the rest of us it is not as real wages have struggled at best and fallen at worst. This is in spite of the increasingly desperate manipulation of inflation numbers that has been going on.
So we see different elements in different places. The Euro area is heading down the same road as Japan in terms of inflation and apart from Germany wages too. The UK is an inflation nation so that part we are if not immune a step or two away from, but that means our real wage performance is looking rather Japanese.
There is also another sub-plot.
30y gilt yield < 30y JGB yield ( Divyang Shah )
The Investing Channel


investmentwatchblog--2020-07-01--Why the American ‘left’ will be responsible for Trump’s 2020 victory

The ‘ left ’ in the USA appear to have gone batshit crazy .
The actions of the American left are NOW literally sending voters TO Donald Trump every single day .
Every time some video goes viral showing wanton looting and needless burning on the streets of the USA – more and more people make a decision on the inside , that enough is enough .
The longer the riots continue , and the more Police that are defunded — the more people decide that they want safety and security , not what they see on TV .
You @ @ @ @ @ @ @ BLM , Antifa , and the Left are guaranteeing DJT to win – and the media and the Lefty leaders can not see it through their blind deliriums .
As an Aussie , I ’ d much rather see Trump as your leader than any of those other contenders .
Trump actually loves his stupid country – whereas his opponents sold the USA out every chance they get .
WHERE ’ S HUNTER , FAT ?
Joe Biden rips Trump over coronavirus , calls reporter ‘ lying dog face.
’ “ The former @ @ @ @ @ @ @ ‘ lying dog-faced pony soldier ’ at a campaign event in New Hampshire in February , an experience she described as ‘ humiliating.
’ ” UM… .
BECAUSE WE DON ’ T LIVE IN THE GARDEN OF EDEN ?
Why Defunding Cops And Disarming Americans Is Dumb .
The CHAZ/CHOP “ security ” folks are shooting unarmed black men and boys at a much greater rate than the Minneapolis police , who are what this is supposedly all about .
Obama admits it : Riots and protests are ‘ tailor-made ’ for electing @ @ @ @ @ @ @ told aides this month that the nationwide protests following the death of George Floyd are “ a tailor-made moment ” to help his former vice president Joe Biden defeat Donald Trump in November.
” “ So in other words , more riots , more votes for Biden .
Perhaps the idea is to beat the public down to such an extent that it feels that only a Democrat can solve it .
Perhaps he sees in the polls that the public is blaming Trump .
The New York Times reported just a couple @ @ @ @ @ @ @ ousting President Trump .
That being the case , it ’ s not unlikely that he will continue with his old Alinsky training , to oust Trump by any means necessary .
If riots will do it , Obama and his Democrats will be happy with more riots .
Even the New York Times admitted that the riots excited him : That calculus , though , may be changing in the wake of George Floyd ’ s killing by the police in Minneapolis .
As America ’ s first black president , now @ @ @ @ @ @ @ sees the current social and racial awakening as an opportunity to elevate a 2020 election dictated by Mr. Trump ’ s mud-wrestling style into something more meaningful — to channel a new , youthful movement toward a political aim , as he did in 2008 .

by AC
The ‘left’ in the USA appear to have gone batshit crazy.
The actions of the American left are NOW literally sending voters TO Donald Trump every single day.
Every time some video goes viral showing wanton looting and needless burning on the streets of the USA – more and more people make a decision on the inside, that enough is enough.
The longer the riots continue, and the more Police that are defunded — the more people decide that they want safety and security, not what they see on TV.
You cannot make this shit up – BLM, Antifa, and the Left are guaranteeing DJT to win – and the media and the Lefty leaders cannot see it through their blind deliriums.
As an Aussie, I’d much rather see Trump as your leader than any of those other contenders.
Trump actually loves his stupid country – whereas his opponents sold the USA out every chance they get.
WHERE’S HUNTER, FAT? Joe Biden rips Trump over coronavirus, calls reporter ‘lying dog face.’ “The former veep infamously called a college student a ‘lying dog-faced pony soldier’ at a campaign event in New Hampshire in February, an experience she described as ‘humiliating.’”
(Classical reference in headline.)
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UM…. BECAUSE WE DON’T LIVE IN THE GARDEN OF EDEN? Why Defunding Cops And Disarming Americans Is Dumb .
ABOLISH THE CHAZ POLICE!
The CHAZ/CHOP “security” folks are shooting unarmed black men and boys at a much greater rate than the Minneapolis police, who are what this is supposedly all about.
Obama admits it: Riots and protests are ‘tailor-made’ for electing Joe Biden “Former President Barack Obama told aides this month that the nationwide protests following the death of George Floyd are “a tailor-made moment” to help his former vice president Joe Biden defeat Donald Trump in November.” “So in other words, more riots, more votes for Biden. Perhaps the idea is to beat the public down to such an extent that it feels that only a Democrat can solve it. Perhaps he sees in the polls that the public is blaming Trump. The New York Times reported just a couple days ago that Obama is obsessed with ousting President Trump. That being the case, it’s not unlikely that he will continue with his old Alinsky training, to oust Trump by any means necessary. If riots will do it, Obama and his Democrats will be happy with more riots. Even the New York Times admitted that the riots excited him: That calculus, though, may be changing in the wake of George Floyd’s killing by the police in Minneapolis. As America’s first black president, now its first black ex-president, Mr. Obama sees the current social and racial awakening as an opportunity to elevate a 2020 election dictated by Mr. Trump’s mud-wrestling style into something more meaningful — to channel a new, youthful movement toward a political aim, as he did in 2008. Opportunity? Elevate? That sounds a lot like “tailor-made.””


investmentwatchblog--2020-07-01--Got it? BLM protests may slow the spread of coronavirus.

Here ’ s the article , with an excerpt : Friedson said his paper doesn ’ t try to figure out whether the protests spread the virus among the people at the protest .
Instead , he said the research took the bigger-picture view : What did the protests mean for overall transmission of the virus within the entire community ?
The study looked at 315 American cities with populations of more than 100,000 and found that 281 of those cities saw protests .
The remaining 34 cities that did not see protests — which , at the time , @ @ @ @ @ @ @ control group against which to measure the impact of the protests .
The researchers found that protests correlated with a net increase in overall stay-at-home behavior in cities where they occurred — and the increase was larger in cities that saw more sustained protests or reports of violence .
Here ’ s a link to the non-peer reviewed study that the article references , with its abstract : Sparked by the killing of George Floyd in police custody , the 2020 Black Lives Matter protests have brought a new wave of attention to @ @ @ @ @ @ @ .
However , many public health officials have warned that mass protests could lead to a reduction in social distancing behavior , spurring a resurgence of COVID-19 .
This study uses newly collected data on protests in 315 of the largest U.S. cities to estimate the impacts of mass protests on social distancing and COVID-19 case growth .
Event-study analyses provide strong evidence that net stay-at-home behavior increased following protest onset , consistent with the hypothesis that nonprotesters ’ behavior was substantially affected by urban protests .
This effect was not fully explained @ @ @ @ @ @ @ Estimated effects were generally larger for persistent protests and those accompanied by media reports of violence .
Furthermore , we find no evidence that urban protests reignited COVID-19 case growth during the more than three weeks following protest onset .
We conclude that predictions of broad negative public health consequences of Black Lives Matter protests were far too narrowly conceived .
WAR IS PEACE , FREEDOM IS SLAVERY : Black Lives Matter protests may have slowed overall spread of coronavirus in Denver and other cities , new study finds .
In accordance with @ @ @ @ @ @ @ Only Spreads At Conservative Protests .

by ratioetlogicae
Here’s the article, with an excerpt:
coloradosun.com/2020/06/30/police-protests-coronavirus-spread/
Friedson said his paper doesn’t try to figure out whether the protests spread the virus among the people at the protest. Instead, he said the research took the bigger-picture view: What did the protests mean for overall transmission of the virus within the entire community? The study looked at 315 American cities with populations of more than 100,000 and found that 281 of those cities saw protests. The remaining 34 cities that did not see protests — which, at the time, included Aurora — were used as a control group against which to measure the impact of the protests. The researchers found that protests correlated with a net increase in overall stay-at-home behavior in cities where they occurred — and the increase was larger in cities that saw more sustained protests or reports of violence.
Here’s a link to the non-peer reviewed study that the article references, with its abstract:
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www.nber.org/papers/w27408.pdf
ABSTRACT Sparked by the killing of George Floyd in police custody, the 2020 Black Lives Matter protests have brought a new wave of attention to the issue of inequality within criminal justice. However, many public health officials have warned that mass protests could lead to a reduction in social distancing behavior, spurring a resurgence of COVID-19. This study uses newly collected data on protests in 315 of the largest U.S. cities to estimate the impacts of mass protests on social distancing and COVID-19 case growth. Event-study analyses provide strong evidence that net stay-at-home behavior increased following protest onset, consistent with the hypothesis that nonprotesters’ behavior was substantially affected by urban protests. This effect was not fully explained by the imposition of city curfews. Estimated effects were generally larger for persistent protests and those accompanied by media reports of violence. Furthermore, we find no evidence that urban protests reignited COVID-19 case growth during the more than three weeks following protest onset. We conclude that predictions of broad negative public health consequences of Black Lives Matter protests were far too narrowly conceived.
WAR IS PEACE, FREEDOM IS SLAVERY: Black Lives Matter protests may have slowed overall spread of coronavirus in Denver and other cities, new study finds.
In accordance with the prophecy: WHO Scientists Confirm Coronavirus Only Spreads At Conservative Protests.


investmentwatchblog--2020-07-01--China has worst flooding since many years.Landslides are occurring.

Car Washed Away , Several Die as Shaoxing City , Zhejiang Province in China Flooded Three Gorges Dam on verge @ @ @ @ @ reporting

Zhejiang flood!
Landslide knocks house down
Car Washed Away, Several Die as Shaoxing City, Zhejiang Province in China Flooded
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Three Gorges Dam on verge of breaking, CCP not reporting
h/t Pillar of Poland


investmentwatchblog--2020-07-01--If Republicans don’t see why Tucker Carlson is the highest rated show in cable news history right no

If Republicans don ’ t see why Tucker Carlson is the highest rated show in cable news history right now @ @ @ @ @ should be to capitulate to the mob , they ’ re idiots and don ’ @ @ @ @ @ Fox News Channel host Tucker Carlson closed out television ’ s second quarter with one @ @ @ @ @ his Tucker Carlson Tonight finished the quarter as the highest-rated program in all of cable @ @ @ @ @ since the show ’ s launch , delivering an average total audience of 4.331 million @ @ @ @ @ , Carlson broke a record held by his colleague , Sean Hannity , for the @ @ @ @ @ news program—ever .
It was a solid quarter for the network , which finished in @ @ @ @ @ cable television for the first time in the network ’ s history , beating out @ @ @ @ @ total viewers and viewers 25-54 , the demographic group most valued by national advertisers .

If Republicans don’t see why Tucker Carlson is the highest rated show in cable news history right now and still think the strategy should be to capitulate to the mob, they’re idiots and don’t deserve our vote.
FORBES: “Tucker Carlson Has Highest-Rated Program In Cable News History”
Fox News Channel host Tucker Carlson closed out television’s second quarter with one for the record books: his Tucker Carlson Tonight finished the quarter as the highest-rated program in all of cable news for the first time since the show’s launch, delivering an average total audience of 4.331 million viewers. In the process, Carlson broke a record held by his colleague, Sean Hannity, for the highest-rated quarter of any cable news program—ever.
It was a solid quarter for the network, which finished in first place across all of cable television for the first time in the network’s history, beating out all basic cable networks among total viewers and viewers 25-54, the demographic group most valued by national advertisers.


investmentwatchblog--2020-07-01--Wouldn’t That Be Cool…

Wouldn’t That Be Cool…

Take a world that ’ s spinning out of control with debt , money creation and pretty much every other measure of financial danger flashing red .
Add the inevitable ( given the above ) precious metals bull market , with rising gold and silver taking the precious metals mining stocks – especially the little speculative ones – along for the ride .
Then toss in something new : a brokerage industry – led by trading apps like Robinhood – that has decided to make stock trading commission-free , leading millions of not-very-experienced investors to become trend-following day traders .
@ @ @ @ @ @ @ answer is in the following excerpt from a recent MarketWatch article .
See if you can spot it : Providing our call of the day is Crescat Capital ’ s global macro analyst Otavio ‘ Tavi ’ Costa , who thinks we ’ re in the early stages of a major bull market for precious metals as a noncorrelated macro asset class .
“ The mining space has been in sort of a recession since the 2011 peak of gold and silver prices .
The capital in the space has dried up significantly @ @ @ @ @ @ @ macro and fundamentals aligning with technicals on the long-term side , I ’ ve never seen such a good setup for an industry like precious metals , ” said Costa .
Costa says they have been taking friendly activist stakes in some “ junior explorer ” miners with prolific projects.
” Crescat created a fund devoted to mining companies a year ago because the sector was so beaten-down .
Miners are divided into juniors GDXJ , +0.87 % that focus on hunts for precious metal deposits , and senior miners GDX , +0.62 @ @ @ @ @ @ @ .
He said the large-cap mining space has started to improve a bit , and thinks investors will move from there onto the bottom part of the industry .
That is good news for one unloved group of stocks .
“ Wait until the Robinhood traders learn about the gold and silver penny stocks , that ’ s where we ’ re long , ” Costa told MarketWatch .
He was referring to a low-cost trading app that has lured a flood of new investors , who have lately won some bets on @ @ @ @ @ @ @ last paragraph , well done .
The junior miners are a notoriously thinly traded and volatile sector .
Let them catch the collective eye of millions of momentum traders and there ’ s no real limit to their upside — or at least to their volatility .
And this may already be starting .
Here are the first few entries in a trading account that contains a lot of junior miners ( yes , I ’ m definitely talking my book here ) , ranked by one-day percentage price gains on Tuesday , @ @ @ @ @ @ @ will look tasty to day traders – especially those with no prior experience in this treacherous sector ?
Very possibly .
Or could these stocks have already come to the Robinhood crowd ’ s attention , with Tuesday ’ s gains being the result ?
Either way , the action going forward could be wild , probably with an upside bias .

BY JOHN RUBINO
Take a world that’s spinning out of control with debt, money creation and pretty much every other measure of financial danger flashing red.
Add the inevitable (given the above) precious metals bull market, with rising gold and silver taking the precious metals mining stocks – especially the little speculative ones – along for the ride.
Then toss in something new: a brokerage industry – led by trading apps like Robinhood – that has decided to make stock trading commission-free, leading millions of not-very-experienced investors to become trend-following day traders.
We are primarily funded by readers. Please subscribe and donate to support us!
And what do you get? The answer is in the following excerpt from a recent MarketWatch article. See if you can spot it:
Providing our call of the day is Crescat Capital’s global macro analyst Otavio ‘Tavi’ Costa, who thinks we’re in the early stages of a major bull market for precious metals as a noncorrelated macro asset class. “The mining space has been in sort of a recession since the 2011 peak of gold and silver prices. The capital in the space has dried up significantly. I think that now with the macro and fundamentals aligning with technicals on the long-term side, I’ve never seen such a good setup for an industry like precious metals,” said Costa. Costa says they have been taking friendly activist stakes in some “junior explorer” miners with prolific projects.” Crescat created a fund devoted to mining companies a year ago because the sector was so beaten-down.
Miners are divided into juniors GDXJ, +0.87% that focus on hunts for precious metal deposits, and senior miners GDX, +0.62% that have big developed mining operations. He said the large-cap mining space has started to improve a bit, and thinks investors will move from there onto the bottom part of the industry. That is good news for one unloved group of stocks. “Wait until the Robinhood traders learn about the gold and silver penny stocks, that’s where we’re long,” Costa told MarketWatch. He was referring to a low-cost trading app that has lured a flood of new investors, who have lately won some bets on beaten-down stocks.
If you chose that last paragraph, well done. The junior miners are a notoriously thinly traded and volatile sector. Let them catch the collective eye of millions of momentum traders and there’s no real limit to their upside — or at least to their volatility.
And this may already be starting. Here are the first few entries in a trading account that contains a lot of junior miners (yes, I’m definitely talking my book here), ranked by one-day percentage price gains on Tuesday, June 30.
Will momentum like this will look tasty to day traders – especially those with no prior experience in this treacherous sector? Very possibly. Or could these stocks have already come to the Robinhood crowd’s attention, with Tuesday’s gains being the result? Either way, the action going forward could be wild, probably with an upside bias.


investmentwatchblog--2020-07-01--Chinese do it better

Chinese do it better

Chinese do it better pic.twitter.com/4iskRmMTw6 ADP revised May from an initially reported loss of 2.76 million to a gain of @ @ @ @ @ 5.8 million revision !
June saw 2.369 million jobs added , until next month 's @

Chinese do it better pic.twitter.com/4iskRmMTw6
ADP revised May from an initially reported loss of 2.76 million to a gain of 3.065 million. A massive 5.8 million revision!
June saw 2.369 million jobs added, until next month's revision.t.co/S66m6v4zv7
— Jim Bianco (@biancoresearch) July 1, 2020


Equities following 09?

The economic recovery is “ now all but stalled : Employment and the proportion of businesses open last week is @ @ @ @ @ differential tells the real story .
While there was an unsurprising bounce as the economy @ @ @ @ @ will evaporate in the next month as things are reversed .
pic.twitter.com/Asdzn0joiz Why worry ?
@ @ @ @ @ % of US population .
t.co/a0tT0mzcrB The FANNGM stocks now make up 24 % of @ @ @ @ @ S & P 500 , up from less than 10 % 5 years ago pic.twitter.com/Oym85Jw9Cg @ @ @ @ @ : too much restaurants , gyms , sushi , hairdressers , beauty salons , small @ @ @ @ @ inequality squeezing their margins , lots of them must collapset.co/Lz7tatteTr

The economic recovery is “now all but stalled: Employment and the proportion of businesses open last week is flat.” t.co/Rks9F3UoIJ
The labor differential tells the real story. While there was an unsurprising bounce as the economy tried to reopen, this will evaporate in the next month as things are reversed. pic.twitter.com/Asdzn0joiz
Why worry? It’s only 30% of US population. t.co/a0tT0mzcrB
NASDAQ 100 put/call ratio is showing signs of greed @SoberLook @MacroCharts #MKMPartners pic.twitter.com/llnwqo6OUw
The FANNGM stocks now make up 24% of the market cap of the S&P 500, up from less than 10% 5 years ago pic.twitter.com/Oym85Jw9Cg
Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy.
Everywhere you go you see : too much restaurants, gyms, sushi, hairdressers, beauty salons, small groceries.
As FED fuels inequality squeezing their margins, lots of them must collapset.co/Lz7tatteTr
— GregTheAnalyst (@Analyst_G) July 1, 2020


investmentwatchblog--2020-07-01--Not A Second Wave Of Coronavirus, A Second Wave Of TOTALITARIANISM!

by Daniel McAdams and Ron Paul of Ron Paul Liberty Report We can not go back to the pre-coronavirus world @ @ @ @ @ Everything has changed and we must accept a “ new normal.
” What does this @ @ @ @ @ like ?
It looks a lot like a dystopian horror film , where privacy is @ @ @ @ @ to political whim , surveillance is to be accepted , medical treatments can be forced @ @ @ @ @ accept totalitarianism as our “ new normal ” ?
Plus in today ’ s program @ @ @ @ @ Houston ’ s “ round two hospital crisis .
”

by Daniel McAdams and Ron Paul of Ron Paul Liberty Report
We are primarily funded by readers. Please subscribe and donate to support us!
We cannot go back to the pre-coronavirus world, they tell us. Everything has changed and we must accept a “new normal.” What does this “new normal” look like? It looks a lot like a dystopian horror film, where privacy is destroyed, property is subject to political whim, surveillance is to be accepted, medical treatments can be forced on people. Should we accept totalitarianism as our “new normal”? Plus in today’s program: the real story of Houston’s “round two hospital crisis.”


investmentwatchblog--2020-07-01--Beware Washington’s Latest Trillion-Dollar Infrastructure Scheme

The infrastructure zealots and the Green New Deal ( GND ) acolytes have returned at the tail end of the coronavirus pandemic .
The Republicans are championing investments in roads and highways , while the Democrats are advancing Rep. Alexandria Ocasio-Cortez ’ s ( D-NY ) grand utopian green vision .
One side is falling back on this decades-old myth that America ’ s bridges are crumbling , while the other is willing to sacrifice the nation ’ s health to please the few petulant and puerile progressives .
Everyone must refrain from questioning the economic logic , constitutional structure @ @ @ @ @ @ @ enormous sums of taxpayer dollars on either sewer systems or the Left ’ s dystopian vision .
Infrastructure spending has returned to the headlines .
Since moving into 1600 Pennsylvania Avenue , President Donald Trump has repeatedly promised to spend $ 1 trillion to fix the nation ’ s supposed crumbling infrastructure , from highways to roads to water .
The White House had kept its plan on the back burner , seemingly waiting to reveal the card when it was necessary .
It turns out that the administration now thinks it is @ @ @ @ @ @ @ endeavor to stimulate the economy .
President Trump and his team are working on the specifics of an ambitious plan .
Republicans are reportedly nervous about the federal government spending another $ 1 trillion .
Democrats are not only willing to spend more than the president ’ s recommendation , but they also have put together legislation known as the “ Moving Forward Act.
” The $ 1.5 trillion proposal includes a wide range of goodies that sound benign on the surface .
It consists of $ 25 billion for drinking water , @ @ @ @ @ @ @ $ 100 billion for public housing , $ 25 billion for hospital upgrades , and $ 25 billion for the postal service .
Who does not want clean water or updated hospitals ?
But the legislation will inevitably consist of pork that would satisfy the appetites of Swamp creatures .
Like any other type of legislative push , a benevolent proposal degenerates into transferring wealth from the poor and middle class to the well connected , feeding the Swamp creatures with tax dollars .
The Republicans are pushing back on a myriad of @ @ @ @ @ @ @ new green technology and encouraging ecofriendly manufacturing of automobiles and businesses .
The GOP is also outraged by the language that mandates states to consider climate change before approving projects and to meet greenhouse gas emission goals when receiving federal money .
If you are concerned about the cost , you should not worry .
Democrats say it will be paid for with bonds—as if the $ 101 trillion market were not already drowning in domestic and foreign debt .
Rep. Peter DeFazio ( D-OR ) , the Transportation and Infrastructure Committee chairman @ @ @ @ @ @ @ of this attitude , Republicans have nicknamed the legislation the “ my way or the highway bill.
” The biggest gripe among Republicans is the price tag for the Democrats ’ proposal .
But where were they when they were approving multitrillion-dollar stimulus and relief packages in the fallout of the coronavirus pandemic ?
Where were they in recent years when the federal government was racking up debt ?
Anytime the GOP starts flailing its arms over the cost of public policies , it is hard to take the grievances seriously .
The @ @ @ @ @ @ @ are the opposition .
Once they are holding the keys to the kingdom , fiscal conservatism becomes a relic of a bygone era , and the political philosophy ’ s fossilized carcass is only put on display when it is convenient .
This is not to say the Democrats are any better .
They are taking advantage of Uncle Sam ’ s intoxication to spend like drunken sailors amid a public health crisis .
Speaker Nancy Pelosi ( D-CA ) recently told reporters that the process began by meeting the country ’ s @ @ @ @ @ @ @ .
Now , according to Pelosi , “ We still have to do some of those things and now move on to recovery.
” The Democrats are planting the seeds to implement the Green New Deal should they reclaim control of the executive and legislative branches in November .
In the meantime , both sides will reach some compromise that further hinders the nation ’ s budget and concedes to the Left ’ s wild GND scheme .
If somebody talks of bipartisanship , hold on to your wallet !
Many experts have @ @ @ @ @ @ @ investment , poetically alluding to the crumbling bridges and the dilapidated roads .
David Stockman , former budget director under President Ronald Reagan , recently averred this myth and would have you believe that “ motorists all across America are at risk for plunging into the drink at any time owing to defective bridges.
” It is 1982 all over again , and the Republicans are calling plays from the same infrastructure playbook .
Let ’ s concede that households are being poisoned by water and vehicles are falling into the planet ’ @ @ @ @ @ @ @ ’ s infrastructure is handled at the state and local level .
Whether it is sewer systems or sidewalks , the federal government has no business intervening in the affairs of New York City or Oklahoma .
It is up to those policymakers to consider their funding mechanisms to cover the cost of remodeling a hospital or upgrading a water system .
Now , let ’ s say that the federal government should supersede states ’ rights and cover the tab .
How is Washington going to pay the bill ?
Both parties @ @ @ @ @ @ @ Treasury Department has already issued record amounts of notes and T-bills , will there be that much demand for even more ?
It is a chaotic market , so anything is possible .
Plus , when in doubt , the Federal Reserve can always swoop in and start buying any amount of debt .
Politicians ’ calls for higher infrastructure spending or the installation of the Green New Deal should make you want to go live under one of those decaying bridges or in an old van down by the polluted river .
@ @ @ @ @ @ @ two subjects merge , because one concept is about spending money for the sake of spending money and the other is about centrally planning society to fit the teachings in the book of Al Gore .
Aside from a couple of independent-minded politicians , most of Washington ’ s elite will agree on a bill that appeases the Swamp ’ s souls .
One side has read The Bridges of Madison County too many times , while the other has listened to far too many Greta Thunberg reprimands .
If these are the @ @ @ @ @ @ @ free , then be prepared to be shackled by the chains of insolvency and incompetence , for that is what the GND and trillion-dollar infrastructure spending will achieve .
Andrew Moran is the Economics Correspondent at LibertyNation.com and is the author of The War on Cash .
You can find more of his work at AndrewMoran.net .

by Andrew Moran via Mises
The infrastructure zealots and the Green New Deal (GND) acolytes have returned at the tail end of the coronavirus pandemic. The Republicans are championing investments in roads and highways, while the Democrats are advancing Rep. Alexandria Ocasio-Cortez’s (D-NY) grand utopian green vision. One side is falling back on this decades-old myth that America’s bridges are crumbling, while the other is willing to sacrifice the nation’s health to please the few petulant and puerile progressives. Everyone must refrain from questioning the economic logic, constitutional structure, and the waste associated with spending enormous sums of taxpayer dollars on either sewer systems or the Left’s dystopian vision.
Infrastructure back in the Spotlight
Infrastructure spending has returned to the headlines. Since moving into 1600 Pennsylvania Avenue, President Donald Trump has repeatedly promised to spend $1 trillion to fix the nation’s supposed crumbling infrastructure, from highways to roads to water. The White House had kept its plan on the back burner, seemingly waiting to reveal the card when it was necessary. It turns out that the administration now thinks it is critical to go through with a costly endeavor to stimulate the economy.
President Trump and his team are working on the specifics of an ambitious plan. Republicans are reportedly nervous about the federal government spending another $1 trillion. Democrats are not only willing to spend more than the president’s recommendation, but they also have put together legislation known as the “Moving Forward Act.”
The $1.5 trillion proposal includes a wide range of goodies that sound benign on the surface. It consists of $25 billion for drinking water, $100 billion for low-income schools, $100 billion for public housing, $25 billion for hospital upgrades, and $25 billion for the postal service. Who does not want clean water or updated hospitals? But the legislation will inevitably consist of pork that would satisfy the appetites of Swamp creatures. Like any other type of legislative push, a benevolent proposal degenerates into transferring wealth from the poor and middle class to the well connected, feeding the Swamp creatures with tax dollars.
The Republicans are pushing back on a myriad of ideas, including tax incentives for using new green technology and encouraging ecofriendly manufacturing of automobiles and businesses. The GOP is also outraged by the language that mandates states to consider climate change before approving projects and to meet greenhouse gas emission goals when receiving federal money.
If you are concerned about the cost, you should not worry. Democrats say it will be paid for with bonds—as if the $101 trillion market were not already drowning in domestic and foreign debt. Rep. Peter DeFazio (D-OR), the Transportation and Infrastructure Committee chairman, dismissed Republicans’ concerns:
Those who don’t believe in climate change, tough luck. We’re going to deal with it. Republicans have been a bit critical at points during the mark up and saying this is Green New Deal 2.0. This is the application of the principles of the Green New Deal. And this proves that we can both deal with climate change, fossil fuel pollution and actually create millions of new high-paying American jobs. That is the promise of this legislation.
Because of this attitude, Republicans have nicknamed the legislation the “my way or the highway bill.”
The Threat of Political Compromise
The biggest gripe among Republicans is the price tag for the Democrats’ proposal. But where were they when they were approving multitrillion-dollar stimulus and relief packages in the fallout of the coronavirus pandemic? Where were they in recent years when the federal government was racking up debt? Anytime the GOP starts flailing its arms over the cost of public policies, it is hard to take the grievances seriously. The elephants talk a good game when they are the opposition. Once they are holding the keys to the kingdom, fiscal conservatism becomes a relic of a bygone era, and the political philosophy’s fossilized carcass is only put on display when it is convenient.
This is not to say the Democrats are any better. They are taking advantage of Uncle Sam’s intoxication to spend like drunken sailors amid a public health crisis. Speaker Nancy Pelosi (D-CA) recently told reporters that the process began by meeting the country’s emergency needs and then moving to mitigation. Now, according to Pelosi, “We still have to do some of those things and now move on to recovery.” The Democrats are planting the seeds to implement the Green New Deal should they reclaim control of the executive and legislative branches in November.
We are primarily funded by readers. Please subscribe and donate to support us!
In the meantime, both sides will reach some compromise that further hinders the nation’s budget and concedes to the Left’s wild GND scheme. If somebody talks of bipartisanship, hold on to your wallet!
The Infrastructure Mythos
Many experts have mused on the pressing need for infrastructure investment, poetically alluding to the crumbling bridges and the dilapidated roads. David Stockman, former budget director under President Ronald Reagan, recently averred this myth and would have you believe that “motorists all across America are at risk for plunging into the drink at any time owing to defective bridges.” It is 1982 all over again, and the Republicans are calling plays from the same infrastructure playbook.
Let’s concede that households are being poisoned by water and vehicles are falling into the planet’s core. Much of the nation’s infrastructure is handled at the state and local level. Whether it is sewer systems or sidewalks, the federal government has no business intervening in the affairs of New York City or Oklahoma. It is up to those policymakers to consider their funding mechanisms to cover the cost of remodeling a hospital or upgrading a water system.
Now, let’s say that the federal government should supersede states’ rights and cover the tab. How is Washington going to pay the bill? Both parties are considering bonds, but if the Treasury Department has already issued record amounts of notes and T-bills, will there be that much demand for even more? It is a chaotic market, so anything is possible. Plus, when in doubt, the Federal Reserve can always swoop in and start buying any amount of debt.
The Bridges of Madison County
Politicians’ calls for higher infrastructure spending or the installation of the Green New Deal should make you want to go live under one of those decaying bridges or in an old van down by the polluted river. It is a frightening prospect when the two subjects merge, because one concept is about spending money for the sake of spending money and the other is about centrally planning society to fit the teachings in the book of Al Gore. Aside from a couple of independent-minded politicians, most of Washington’s elite will agree on a bill that appeases the Swamp’s souls. One side has read The Bridges of Madison County too many times, while the other has listened to far too many Greta Thunberg reprimands. If these are the opposing philosophies running the land of the free, then be prepared to be shackled by the chains of insolvency and incompetence, for that is what the GND and trillion-dollar infrastructure spending will achieve.
Originally published at Liberty Nation.
Author:
Andrew Moran
Andrew Moran is the Economics Correspondent at LibertyNation.com and is the author of The War on Cash. You can find more of his work at AndrewMoran.net.


investmentwatchblog--2020-07-01--Government Can Already Track You Without Apps

People have no idea that the government can already track your movement and can determine if you are a protestor @ @ @ @ @ named Mobilewalla released a report titled , “ George Floyd Protester Demographics : Insights Across @ @ @ @ @ It produced 60 pie charts detailing what percent of protesters in these demonstrations were male @ @ @ @ @ ( 18–34 ) ; middle-aged ( 35-54 ) , or older ( 55+ ) ; @ @ @ @ @ “ Caucasian/Others , ” “ Hispanic , ” or “ Asian-American.
” This data is @ @ @ @ @ a questionable practice constitutionally .
You better get a burner phone and leave the smartphone @ @ @ @ @ near any protest , for you can be determined to be part of it .

by Martin Armstrong
People have no idea that the government can already track your movement and can determine if you are a protestor or not. A company named Mobilewalla released a report titled, “George Floyd Protester Demographics: Insights Across 4 Major US Cities.” It produced 60 pie charts detailing what percent of protesters in these demonstrations were male or female, young adult (18–34); middle-aged (35-54), or older (55+); and “African-American,” “Caucasian/Others,” “Hispanic,” or “Asian-American.” This data is available now and can provide a questionable practice constitutionally.
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You better get a burner phone and leave the smartphone home if you are getting near any protest, for you can be determined to be part of it.


investmentwatchblog--2020-07-01--Fifth Pharmaceutical Company Charged In Ongoing Criminal Antitrust Investigation

Glenmark Pharmaceuticals Inc. , USA was charged for conspiring to fix prices for generic drugs , the Department of Justice announced today .
The charge , filed today in the U.S. District Court in Philadelphia , Pennsylvania , alleges that Glenmark conspired with other generic drug companies , including a company with its principal place of business in Montgomery County , Pennsylvania , and Apotex Corp. , to increase and maintain prices of pravastatin and other generic drugs beginning in or around May 2013 and continuing until at least in or around December 2015 .
Pravastatin is a prescription medication @ @ @ @ @ @ @ heart attacks and strokes .
The charge alleges that the gain to the conspirators , and the loss to the victims , was at least $ 200 million .
“ By cheating through fixing prices , generic drug companies artificially raised prices even though prescription drug costs were already sky high , ” said Assistant Attorney General Makan Delrahim of the Department of Justice ’ s Antitrust Division .
“ As today ’ s charge shows , the Antitrust Division will not hesitate to charge these companies , and litigate where necessary , @ @ @ @ @ @ @ of millions of dollars in overcharges for life-saving medications.
” “ During these difficult times , it is more important than ever that our pharmaceutical companies conduct business with the well-being of the consumer in mind , ” said Deputy Special Agent in Charge Steven Stuller , U.S .
Postal Service Office of Inspector General .
“ When generic drug companies conspire to artificially increase prices , they do so to the detriment of many who depend on these medications to maintain good health .
Along with the Department of Justice Antitrust Division @ @ @ @ @ @ @ of Investigation , the USPS Office of Inspector General will remain committed to investigating those who would engage in this type of harmful conduct.
” “ The FBI will continue to work closely with our partners to pursue companies and individuals who seek to manipulate the economic system to their benefit , ” said Timothy R. Slater , Assistant Director in Charge of the FBI Washington Field Office .
“ Today ’ s charge demonstrates the FBI ’ s ongoing commitment to rooting out this greed and illegal activity .
There are real @ @ @ @ @ @ @ the patients around the country who rely on these vital medications.
” “ Artificially inflating the price of medication is reprehensible and illegal , ” said Jennifer Arbittier Williams , First Assistant U.S. Attorney for the Eastern District of Pennsylvania .
“ This ill-gotten gain by the pharmaceutical industry potentially put the health of millions of Americans at risk .
Just as with the other charges that have been brought out of this investigation into generic pharmaceuticals , today ’ s announcement demonstrates that we will continue to hold accountable any company that @ @ @ @ @ @ @ Glenmark is the fifth company to be charged over the last 13 months in connection with antitrust violations in the generic pharmaceutical industry .
The previous corporate charges , including the charge against Glenmark ’ s co-conspirator Apotex , were resolved by deferred prosecution agreement .
Four senior executives have also been charged .
Three entered guilty pleas and the fourth is awaiting trial .
A criminal Information merely alleges that a crime has been committed , and all defendants are presumed innocent until proven guilty beyond a reasonable doubt .
The offense @ @ @ @ @ @ @ $ 100 million , which may be increased to twice the gain derived from the crime or twice the loss suffered by victims if either amount is greater than $ 100 million .
This charge is the result of an ongoing federal antitrust investigation into market allocation , price fixing , bid rigging , and other anticompetitive conduct in the generic pharmaceutical industry , which is being conducted by the Antitrust Division with the assistance of the United States Postal Service Office of Inspector General , the Federal Bureau of Investigation ’ s @ @ @ @ @ @ @ the U.S. Attorney ’ s Office for the Eastern District of Pennsylvania .
Anyone with information on market allocation , price fixing , bid rigging , or other anticompetitive conduct related to the generic pharmaceutical industry should contact the Antitrust Division ’ s Citizen Complaint Center at 1-888-647-3258 or visit www.justice.gov/atr/contact/newcase.html .

by bgny
The Trump administrations war against big pharma continues.
Glenmark Pharmaceuticals Inc., USA was charged for conspiring to fix prices for generic drugs, the Department of Justice announced today.
The charge, filed today in the U.S. District Court in Philadelphia, Pennsylvania, alleges that Glenmark conspired with other generic drug companies, including a company with its principal place of business in Montgomery County, Pennsylvania, and Apotex Corp., to increase and maintain prices of pravastatin and other generic drugs beginning in or around May 2013 and continuing until at least in or around December 2015. Pravastatin is a prescription medication that reduces cholesterol, helping to prevent heart attacks and strokes. The charge alleges that the gain to the conspirators, and the loss to the victims, was at least $200 million.
“By cheating through fixing prices, generic drug companies artificially raised prices even though prescription drug costs were already sky high,” said Assistant Attorney General Makan Delrahim of the Department of Justice’s Antitrust Division. “As today’s charge shows, the Antitrust Division will not hesitate to charge these companies, and litigate where necessary, particularly where their crimes resulted in hundreds of millions of dollars in overcharges for life-saving medications.”
“During these difficult times, it is more important than ever that our pharmaceutical companies conduct business with the well-being of the consumer in mind,” said Deputy Special Agent in Charge Steven Stuller, U.S. Postal Service Office of Inspector General. “When generic drug companies conspire to artificially increase prices, they do so to the detriment of many who depend on these medications to maintain good health. Along with the Department of Justice Antitrust Division and our partners at the Federal Bureau of Investigation, the USPS Office of Inspector General will remain committed to investigating those who would engage in this type of harmful conduct.”
“The FBI will continue to work closely with our partners to pursue companies and individuals who seek to manipulate the economic system to their benefit,” said Timothy R. Slater, Assistant Director in Charge of the FBI Washington Field Office. “Today’s charge demonstrates the FBI’s ongoing commitment to rooting out this greed and illegal activity. There are real victims in these crimes; they are the patients around the country who rely on these vital medications.”
“Artificially inflating the price of medication is reprehensible and illegal,” said Jennifer Arbittier Williams, First Assistant U.S. Attorney for the Eastern District of Pennsylvania. “This ill-gotten gain by the pharmaceutical industry potentially put the health of millions of Americans at risk. Just as with the other charges that have been brought out of this investigation into generic pharmaceuticals, today’s announcement demonstrates that we will continue to hold accountable any company that engages in this type of conduct.”
Glenmark is the fifth company to be charged over the last 13 months in connection with antitrust violations in the generic pharmaceutical industry. The previous corporate charges, including the charge against Glenmark’s co-conspirator Apotex, were resolved by deferred prosecution agreement. Four senior executives have also been charged. Three entered guilty pleas and the fourth is awaiting trial.
A criminal Information merely alleges that a crime has been committed, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt.
The offense charged carries a statutory maximum penalty of $100 million, which may be increased to twice the gain derived from the crime or twice the loss suffered by victims if either amount is greater than $100 million.
This charge is the result of an ongoing federal antitrust investigation into market allocation, price fixing, bid rigging, and other anticompetitive conduct in the generic pharmaceutical industry, which is being conducted by the Antitrust Division with the assistance of the United States Postal Service Office of Inspector General, the Federal Bureau of Investigation’s Washington and Philadelphia Field Offices, and the U.S. Attorney’s Office for the Eastern District of Pennsylvania. Anyone with information on market allocation, price fixing, bid rigging, or other anticompetitive conduct related to the generic pharmaceutical industry should contact the Antitrust Division’s Citizen Complaint Center at 1-888-647-3258 or visit www.justice.gov/atr/contact/newcase.html.


investmentwatchblog--2020-07-01--Maybe Communist China-sourced software should get the Huawei treatment.

COLD WAR II : China ’ s influence via WeChat is ‘ flying under the radar ’ of most Western democracies .
China ’ s WeChat , like most social networks , is a haven for disinformation and “ fake news ” .
Less well-known , at least in the West , is its role in mobilising Chinese diaspora communities to support particular political policies or people .
These activities are coordinated through a system known as the United Front , a network of party and state agencies that are responsible for influencing purportedly independent groups outside the Chinese Communist @ @ @ @ @ @ @ the United Front Work Department is led by China ’ s fourth most senior political leader , Wang Yang .
President Xi Jinping and his family have been involved in United Front work for decades .
“ Where United Front really works their biggest magic is actually on social media WeChat , ” says Maree Ma , general manager of Vision Times , a leading Chinese-language Australian media outlet .
WeChat ’ s private groups are capped at 500 members , but according to Ma , there ’ s “ hundreds ” of @ @ @ @ @ @ @ of them with many of these groups .

COLD WAR II: China’s influence via WeChat is ‘flying under the radar’ of most Western democracies.
China’s WeChat, like most social networks, is a haven for disinformation and “fake news”. Less well-known, at least in the West, is its role in mobilising Chinese diaspora communities to support particular political policies or people.
These activities are coordinated through a system known as the United Front, a network of party and state agencies that are responsible for influencing purportedly independent groups outside the Chinese Communist Party.
At the very top, the United Front Work Department is led by China’s fourth most senior political leader, Wang Yang. President Xi Jinping and his family have been involved in United Front work for decades.
“Where United Front really works their biggest magic is actually on social media WeChat,” says Maree Ma, general manager of Vision Times, a leading Chinese-language Australian media outlet.
WeChat’s private groups are capped at 500 members, but according to Ma, there’s “hundreds” of United Front organisations in Australia, each of them with many of these groups.


investmentwatchblog--2020-07-01--If this kind of violence were happening at right-wing protests, it would be all over the press, inst

If this kind of violence were happening at right-wing protests, it would be all over the press, instead of — deliberately — buried:

Gunman shot driver , then hid weapon and continued to protest , Provo police say .
The victim was driving a white SUV on University Avenue and was attempting to turn onto Center Street when a group of protestors began “ crowding around the vehicle .
A male protester ran to the SUV on the passenger side , pointed a handgun at ( the ) driver and shot one round through the window , ” according to a a synopsis of the incident by Provo Deputy Police Chief John Guyerman .
The driver , who was struck by a bullet @ @ @ @ @ @ @ leave the situation , ” Guyerman said .
CNN headline , probably : Right Wing Extremist Runs Over Crowd of Mostly Peaceful Protesters .
As the SUV is speeding away , the gunman ran after the vehicle and fired a second round that went through the rear passenger window , according to police .
After the shooting , video shows the gunman then “ conceals the firearm and continues to protest , ” Guyerman said .
“ This same protester later approached another vehicle at 500 North and University Avenue , striking and @ @ @ @ @ @ @ UPDATE : From an updated version of the story : “ Salt Lake police confirmed Tuesday night the suspected shooter had been arrested , and Provo police would pick him up .
No additional details were released .
”

Gunman shot driver, then hid weapon and continued to protest, Provo police say.
The victim was driving a white SUV on University Avenue and was attempting to turn onto Center Street when a group of protestors began “crowding around the vehicle. A male protester ran to the SUV on the passenger side, pointed a handgun at (the) driver and shot one round through the window,” according to a a synopsis of the incident by Provo Deputy Police Chief John Guyerman. The driver, who was struck by a bullet, “hit the gas trying to leave the situation,” Guyerman said.
CNN headline, probably: Right Wing Extremist Runs Over Crowd of Mostly Peaceful Protesters.
Plus:
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As the SUV is speeding away, the gunman ran after the vehicle and fired a second round that went through the rear passenger window, according to police. After the shooting, video shows the gunman then “conceals the firearm and continues to protest,” Guyerman said. “This same protester later approached another vehicle at 500 North and University Avenue, striking and breaking the window with the handgun.”
Like I said.
UPDATE: From an updated version of the story: “Salt Lake police confirmed Tuesday night the suspected shooter had been arrested, and Provo police would pick him up. No additional details were released.”
h/t GR


investmentwatchblog--2020-07-01--Queens Woman Confronts Bill De Blasio, He Turns And Runs Away:

“ He simply fled , and took refuge in his SUV .
”

“He simply fled, and took refuge in his SUV.”
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investmentwatchblog--2020-07-01--The Secretary of Defense and Chairman of the Joint Chiefs of Staff briefed the President yesterday o

The Secretary of Defense and Chairman of the Joint Chiefs of Staff briefed the President yesterday on plans to redeploy @ @ @ @ @ via @ ChiefPentSpox # Germany pic.twitter.com/Iar2XBODmP

The Secretary of Defense and Chairman of the Joint Chiefs of Staff briefed the President yesterday on plans to redeploy 9,500 troops from Germany t.co/2vmOKITNKE via @ChiefPentSpox #Germany pic.twitter.com/Iar2XBODmP
— Liveuamap (@Liveuamap) June 30, 2020


investmentwatchblog--2020-07-01--The mayor of Seattle seems to have had a change of heart, now that the mob has turned on her!

HYPOCRISY ALERT : Seattle Mayor Wants To ‘ Punish or Expel ’ Socialist Council Member For Protesting At Her Home @

by Kimball_Kinnison
HYPOCRISY ALERT: Seattle Mayor Wants To ‘Punish or Expel’ Socialist Council Member For Protesting At Her Home t.co/hcx4qkXJhN
— Sean Hannity (@seanhannity) July 1, 2020


investmentwatchblog--2020-07-01--Tucker Carlson: 3 Things We Must Demand From Republicans

TUCKER CARLSON 6/30/2020 : 3 THINGS WE MUST DEMAND FROM REPUBLICANS : 1 . )
Republicans MUST have rigorous defense of TOTAL EQUALITY under the law .
2 . )
Republicans MUST defend our FREEDOM OF SPEECH .
3 . )
We must never forget that the Republican party exists to SERVE THE INTERESTS OF ORDINARY PEOPLE .
FLYNN : If We Don ’ t Act , The 2 % Will Have Control Of The 98 % Gen. Michael Flynn : If we don ’ t act , 2 % of the people are about to control the other 98 @ @ @ @ @ @ @ ’ re not careful , 2 percent of the passionate will control 98 percent of the indifferent 100 percent of the time .
The more I ’ ve thought about this phrase , the more I believe it .
There is now a small group of passionate people working hard to destroy our American way of life .
and our rule of law and those law enforcement professionals who uphold our laws are under the gun more than at any time in our nation ’ s history .
These passionate 2 percent appear @ @ @ @ @ @ @ countless good people trying to come to grips with everything else on their plates , our silent majority ( the indifferent ) can no longer be silent .
If the United States wants to survive the onslaught of socialism , if we are to continue to enjoy self-government and the liberty of our hard-fought freedoms , we have to understand there are two opposing forces : One is the “ children of light ” and the other is the “ children of darkness.
” Far Leftist Just Shot A Driver For No Reason @ @ @ @ @ @ @ s Getting Insane

by Detroitmadlad
TUCKER CARLSON 6/30/2020: 3 THINGS WE MUST DEMAND FROM REPUBLICANS: 1.) Republicans MUST have rigorous defense of TOTAL EQUALITY under the law. 2.) Republicans MUST defend our FREEDOM OF SPEECH. 3.) We must never forget that the Republican party exists to SERVE THE INTERESTS OF ORDINARY PEOPLE.
FLYNN: If We Don’t Act, The 2% Will Have Control Of The 98%
Gen. Michael Flynn: If we don’t act, 2% of the people are about to control the other 98%
I was once told if we’re not careful, 2 percent of the passionate will control 98 percent of the indifferent 100 percent of the time.
We are primarily funded by readers. Please subscribe and donate to support us!
The more I’ve thought about this phrase, the more I believe it. There is now a small group of passionate people working hard to destroy our American way of life. Treason and treachery are rampant and our rule of law and those law enforcement professionals who uphold our laws are under the gun more than at any time in our nation’s history. These passionate 2 percent appear to be winning.
Despite there being countless good people trying to come to grips with everything else on their plates, our silent majority (the indifferent) can no longer be silent.
If the United States wants to survive the onslaught of socialism, if we are to continue to enjoy self-government and the liberty of our hard-fought freedoms, we have to understand there are two opposing forces: One is the “children of light” and the other is the “children of darkness.”
Far Leftist Just Shot A Driver For No Reason At Defund Police Rally, It’s Getting Insane
Patriots all over America are starting to stand up! 👊🏼🇺🇸👊🏼 pic.twitter.com/FfoJ3e7R7O — Art TakingBack 🇺🇸 (@ArtValley818) July 1, 2020


investmentwatchblog--2020-07-01--Treasury Unemployment Payouts Surpass $100 Billion in June…  Workers Getting Laid Off for Second Tim

Treasury Unemployment Payouts Surpass $100 Billion in June…  Workers Getting Laid Off for Second Time… Americans Living in Big ‘Anger Incubator’…

( Bloomberg ) — The U.S. Treasury Department has paid out more than $ 100 billion in unemployment benefits in June , the most for a single month since the pandemic started and underscoring the importance of federal relief efforts to shore up a battered job market .
With just one day left to be reported , the U.S. Treasury paid out $ 108.5 billion in unemployment benefits in June — the most on record dating back to 2005 — according to the department ’ s latest daily statement Tuesday .
That exceeded the $ 93.6 billion in May and @ @ @ @ @ @ @ government continues to play catch up with the backlog in processing claims due to an overwhelming number of people applying for benefits .
Workers getting laid off for second time When she was first furloughed in March , Randee Heitzmann knew how to make ends meet .
She deferred payments on her new Honda Civic , spent $ 3,000 in stimulus money and tax returns on other payments , and drained her savings .
Then she was called back to her job , as a bartender at a cigar bar near Dallas for @ @ @ @ @ @ @ 100 per shift , just 20 % of what she was used to .
But on Friday , Heitzmann was cut loose again , hours before her shift was to begin .
“ I don ’ t have any savings left , ” the 28-year-old said .
“ I don ’ t know how long it ’ s going to be before I get a paycheck again.
” Americans are angry .
The country erupted into the worst civil unrest in decades after the death of George Floyd , and anger about police @ @ @ @ @ @ @ of racism is still running high .
At the same time , we ’ re dealing with anger provoked by the coronavirus pandemic : anger at public officials because they ’ ve shut down parts of society , or anger because they aren ’ t doing enough to curb the virus .
Anger about being required to wear a mask , or anger toward people who refuse to wear a mask .
Anger with anyone who doesn ’ t see things the “ right ” way .
“ We ’ re living , @ @ @ @ @ @ @ incubator , ” said Raymond Novaco , a psychology professor at the University of California at Irvine , who has expertise in anger assessment and treatment .

Treasury Unemployment Payouts Surpass $100 Billion in June…
(Bloomberg) — The U.S. Treasury Department has paid out more than $100 billion in unemployment benefits in June, the most for a single month since the pandemic started and underscoring the importance of federal relief efforts to shore up a battered job market.
With just one day left to be reported, the U.S. Treasury paid out $108.5 billion in unemployment benefits in June — the most on record dating back to 2005 — according to the department’s latest daily statement Tuesday.
That exceeded the $93.6 billion in May and $48.4 billion in April as the government continues to play catch up with the backlog in processing claims due to an overwhelming number of people applying for benefits.
Workers getting laid off for second time
When she was first furloughed in March, Randee Heitzmann knew how to make ends meet.
She deferred payments on her new Honda Civic, spent $3,000 in stimulus money and tax returns on other payments, and drained her savings.
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Then she was called back to her job, as a bartender at a cigar bar near Dallas for five weeks, taking home about $100 per shift, just 20% of what she was used to.
But on Friday, Heitzmann was cut loose again, hours before her shift was to begin.
“I don’t have any savings left,” the 28-year-old said. “I don’t know how long it’s going to be before I get a paycheck again.”
Americans living in big ‘anger incubator’…
Americans are angry. The country erupted into the worst civil unrest in decades after the death of George Floyd, and anger about police violence and the country’s legacy of racism is still running high. At the same time, we’re dealing with anger provoked by the coronavirus pandemic: anger at public officials because they’ve shut down parts of society, or anger because they aren’t doing enough to curb the virus. Anger about being required to wear a mask, or anger toward people who refuse to wear a mask. Anger with anyone who doesn’t see things the “right” way.
“We’re living, in effect, in a big anger incubator,” said Raymond Novaco, a psychology professor at the University of California at Irvine, who has expertise in anger assessment and treatment.
Wild brawl erupts in Arkansas restaurant over social distancing…