investmentwatchblog--2020-06-03--The problems posed by mass unemployment

The problems posed by mass unemployment

A sad consequence of the lock downs and the effective closure of some parts of the economy is lower employment and higher unemployment .
That type of theme was in evidence very early today as we learnt that even the land “ down under ” looks like it is in recession after recording a 0.3 % decline in the opening quarter of 2020 .
The first for nearly 30 years as even the commodities boom seen has been unable to resist the effects of the pandemic .
This brings me to what Australia Statistics told us last month .
I @ @ @ @ @ @ @ we get a better guide from it in such times although to be fair it seems to be making a fist of the unemployment position .
The unemployment rate increased 1.0 points to 6.2 % and was 1.0 points higher than in April 2019 .
The number of unemployed people increased by 104,500 in April 2020 to 823,300 people , and increased by 117,700 people from April 2019 .
The underemployment rate increased by 4.9 pts to 13.7 % , the highest on record , and was 5.2 pts higher than in April @ @ @ @ @ @ @ 603,300 in April 2020 to 1,816,100 people , an increase of almost 50 % ( 49.7 % ) , and increased by 666,100 people since April 2019 .
As you can see they have picked up a fair bit of the changes and it is nice to see an underemployment measure albeit not nice to see it rise so much .
The signal for the Australian economy in the quarter just gone is rather grim though especially if we note this .
In line with our “ Girlfriend in a coma ” theme @ @ @ @ @ @ @ especially as we note how hard it was hit by the virus pandemic .
Even worse a mere headline perusal is actively misleading as I note this from Istat , and the emphasis is mine .
The full detail is below .
Yes a number which ordinarily would be perceived as a triumph after all the struggles Italy has had with its economy and elevated unemployment is at best a mirage and at worst a complete fail for the methodology below .
Some would not have bothered to look for work thinking it @ @ @ @ @ @ @ simply have been unable to .
We do find them elsewhere in the data set .
If we look back we see that there was a similar issue with the March numbers so a published unemployment rate of 6.3 % looks like one of over 11 % if we make some sort of correction for the April and March issues .
We get a better guide to the state of play from the employment position which as we observe from time to time has become something of a leafing indicator .
Oh and @ @ @ @ @ @ @ rather than March .
But looking ahead we see a 1.2 % fall for employment in April alone which has implications for GDP and of course it is before the furlough scheme .
This morning has also brought news about the state of play in Germany .
For our purposes we get a signal from this .
Perhaps the headline read a lot better in German .
Switching to unemployment the system seems less flawed than in Italy .
There is a clear conceptual issue here if we return to Fitch Ratings .
@ @ @ @ @ @ @ from these numbers and let me give my sympathies to those affected .
Hopefully we can avoid what happened in the 1930s .
Returning to the statistics there are a litany of issues some of which we have already looked at .
Let me point out another via the German employment data .
The usual pattern for seasonal fluctuations will be no guide this year and may even be worse than useless but it will still be used in the headline data .
But there is more if we switch to Eurostat .
@ @ @ @ @ @ @ a large rise as a fall but even in Germany there is an issue as I note an unemployment rate of 4.3 % .
Well after applying the usual rules Eurostat has published it at 3.5 % .
There is no great conspiracy here as the statisticians apply rules which are supposed to make things clearer but some extra thought is requited as we note they are in fact making the numbers pretty meaningless right now , or the opposite of their role .

by Shaun Richards
A sad consequence of the lock downs and the effective closure of some parts of the economy is lower employment and higher unemployment. That type of theme was in evidence very early today as we learnt that even the land “down under” looks like it is in recession after recording a 0.3% decline in the opening quarter of 2020. The first for nearly 30 years as even the commodities boom seen has been unable to resist the effects of the pandemic. This brings me to what Australia Statistics told us last month.
Employment decreased by 594,300 people (-4.6%) between March and April 2020, with full-time employment decreasing by 220,500 people and part-time employment decreasing by 373,800 people.Compared to a year ago, there were 123,000 less people employed full-time and 272,000 less people employed part-time. Thischange led to a decrease in the part-time share of employment over the past 12 months, from 31.5% to 30.3%.
I have opened with the employment data as we get a better guide from it in such times although to be fair it seems to be making a fist of the unemployment position.
The unemployment rate increased 1.0 points to 6.2%and was 1.0 points higher than in April 2019. The number of unemployed people increased by 104,500 in April 2020 to 823,300 people, and increased by 117,700 people from April 2019. The underemployment rate increased by 4.9 pts to 13.7%, the highest on record, and was 5.2 pts higher than in April 2019.The number of underemployed people increased by 603,300 in April 2020 to 1,816,100 people, an increase of almost 50% (49.7%), and increased by 666,100 people since April 2019.
As you can see they have picked up a fair bit of the changes and it is nice to see an underemployment measure albeit not nice to see it rise so much. The signal for the Australian economy in the quarter just gone is rather grim though especially if we note this.
Monthly hours worked in all jobs decreased by 163.9 million hours (-9.2%) to 1,625.8 million hours in April 2020, larger than the decrease in employed people.
Italy
In line with our “Girlfriend in a coma” theme one fears the worst for Italy now especially as we note how hard it was hit by the virus pandemic. Even worse a mere headline perusal is actively misleading as I note this from Istat, and the emphasis is mine.
In April 2020, in comparison with the previous month, employment significantly decreased and unemployment sharply fell together with a relevant increase of inactivity.
The full detail is below.
In the last month, also the remarkable fall of the unemployed people (-23.9%, -484 thousand) was recorded for both men (-17.4%, -179 thousand) and women (-30.6%, -305 thousand). The unemployment rate dropped to 6.3% (-1.7 percentage points) and the youth rate fell to 20.3% (-6.2 p.p.).
Yes a number which ordinarily would be perceived as a triumph after all the struggles Italy has had with its economy and elevated unemployment is at best a mirage and at worst a complete fail for the methodology below.
Unemployed persons: comprise persons aged 15-74 who:
were actively seeking work, i.e. had carried out activities in the four week period ending with the reference week
to seek paid employment or self-employment and were available to start working before the end of the two
weeks following the reference week;
Some would not have bothered to look for work thinking it was hopeless and many of course would simply have been unable to. We do find them elsewhere in the data set.
In April the considerable growth of inactive people aged 15-64 (+5.4%, +746 thousand) was registered for
both men (+6.0%, +307 thousand) and women (+5.0%, +438 thousand), leading the inactivity rate to
38.1% (+2.0 percentage points).
If we look back we see that there was a similar issue with the March numbers so a published unemployment rate of 6.3% looks like one of over 11% if we make some sort of correction for the April and March issues.
We get a better guide to the state of play from the employment position which as we observe from time to time has become something of a leafing indicator.
On a monthly basis, the decline of employment (-1.2%, -274 thousand) concerned both men (-1.0%, -131 thousand) and women (-1.5%, -143 thousand), and brought the employment rate to 57.9% (-0.7 p. p.)…….With respect to the previous quarter, in the period February – April 2020, employment considerably decreased (-1.0%, -226 thousand) for both genders…….Compared to March 2019, employment showed a decrease in terms of figures (-2.1%, -497 thousand) and rate (-1.1 percentage points).
Oh and in the last sentence they mean April rather than March. But looking ahead we see a 1.2% fall for employment in April alone which has implications for GDP and of course it is before the furlough scheme.
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Italy has furloughed 7.2 million workers, equivalent to 31% of employment at end-2019; ( FitchRatings )
Germany
This morning has also brought news about the state of play in Germany.
WIESBADEN – Roughly 44.8 million persons resident in Germany (national concept) were in employment in April 2020 according to provisional calculations of the Federal Statistical Office (Destatis). Compared with April 2019, the number of persons in employment decreased by 0.5% (-210,000). This means that for the first time since March 2010 the number of persons in employment decreased year on year (-92,000; -0.2%). In March 2020, the year-on-year change rate had been +0.2%.
For our purposes we get a signal from this.
According to provisional results of the employment accounts, the number of persons in employment fell by 161,000 in April 2020 on the previous month. Normally, employment rises strongly in April as a result of the usual spring upturn, that is, by 143,000 in April on an average of the last five years.
Perhaps the headline read a lot better in German.
No spring upturn
Switching to unemployment the system seems less flawed than in Italy.
Results of the labour force survey show that 1.89 million people were unemployed in April 2020. That was an increase of 220,000, or 13.2%, on March 2020. Compared with April 2019, the number of unemployed persons increased by 515,000 or +38.0%. The unemployment rate was 4.3% in April 2020.
There is a clear conceptual issue here if we return to Fitch Ratings.
Germany has enrolled more than 10 million workers on its scheme, representing 22% of employment at the end-2019. This number ultimately may be lower because some firms that have registered employees as a precaution may decide not to participate. Germany employed the Kurzarbeit to great effect during the global financial crisis when its implementation prevented the mass lay-offs that were seen elsewhere in Europe. While unemployment in Germany remained broadly unchanged in 2008-2009, other countries reported significant increases.
Comment
There are deep sociological and psychological impacts from these numbers and let me give my sympathies to those affected. Hopefully we can avoid what happened in the 1930s. Returning to the statistics there are a litany of issues some of which we have already looked at. Let me point out another via the German employment data.
After seasonal adjustment, that is, after the elimination of the usual seasonal fluctuations, the number of persons in employment decreased by 271,000 (-0.6%) in April 2020 compared with March 2020.
The usual pattern for seasonal fluctuations will be no guide this year and may even be worse than useless but it will still be used in the headline data. But there is more if we switch to Eurostat.
In April 2020, the second month after COVID-19 containment measures were implemented by most Member
States, the euro area seasonally-adjusted unemployment rate was 7.3%, up from 7.1% in March 2020. The EU
unemployment rate was 6.6% in April 2020, up from 6.4% in March 2020.
We have the issue of Italy recording a large rise as a fall but even in Germany there is an issue as I note an unemployment rate of 4.3%. Well after applying the usual rules Eurostat has published it at 3.5%. There is no great conspiracy here as the statisticians apply rules which are supposed to make things clearer but some extra thought is requited as we note they are in fact making the numbers pretty meaningless right now, or the opposite of their role.
The Investing Channel


investmentwatchblog--2020-06-03--We’re Already Making History. Now Let’s Leave a Legacy

For thousands of years , people who lived through what we call “ history ” didn ’ t realize it .
• The Vietnam War was certainly historic , but the coronavirus killed more Americans in the last few months than died in that long conflict .
• The Great Depression was historic but , by some indicators , we are well on the way to matching it .
• The Manhattan Project and the Apollo missions were historic .
And now , for the first time ever , a private company ( SpaceX ) has launched a reusable space @ @ @ @ @ @ @ .
Most of us know that history is taking place all around us right now .
But what will future generations say of 2020 ?
What clever term will they devise for this period ?
And what dramatic events will they recall that we , in our time , still haven ’ t seen ?
At the grand finale of my 2020 Strategic Investment Conference , Karen Harris , the managing director of Bain & Co. ’ s Macro Trends Group , asked our panel of investing and economic experts to imagine , @ @ @ @ @ @ @ thing will we look back on and wish we had understood .
• Louis Gave , founding partner and CEO of GaveKal Research : We have seen the low in oil and a high for the U.S. dollar .
• Mark Yusko , founder , CEO and CIO of Morgan Creek Capital : Every interest rate on the planet will go negative .
• David Bahnsen founder , managing director and CIO of The Bahnsen Group : The Fed will avoid negative rates and less-leveraged companies will have been good buys .
Next @ @ @ @ @ @ @ right .
Personally , I see us looking back on what I call the “ Rocky Mountain Recovery , ” with peaks of different sizes rising above the plains .
Some sectors will boom ; others will struggle in the valleys before rising .
There will be no Vs or Us or swooshes or other simplistic metaphors .
It will have exhilarating moments but also hard work and struggles .
I ’ m optimistic we will get a coronavirus vaccine fairly soon , speeding along recovery , but then we will be back @ @ @ @ @ @ @ .
So , we will need to aim carefully , and will probably do better buying the best entrepreneurs instead of looking at companies .
Fellow boomers and entrepreneurs : If you can , find a few people to personally invest your money , time , and resources in .
Help them get back on their feet .
Take some time and mentor a few people to help get the country going again .
Do it in your own backyard in whatever ways you can .

by John Mauldin
For thousands of years, people who lived through what we call “history” didn’t realize it.
The Vietnam War was certainly historic, but the coronavirus killed more Americans in the last few months than died in that long conflict.
The Great Depression was historic but, by some indicators, we are well on the way to matching it.
The Manhattan Project and the Apollo missions were historic. And now, for the first time ever, a private company (SpaceX) has launched a reusable space capsule into orbit with humans on board.
Most of us know that history is taking place all around us right now.
But what will future generations say of 2020? What clever term will they devise for this period? And what dramatic events will they recall that we, in our time, still haven’t seen?
At the grand finale of my 2020 Strategic Investment Conference, Karen Harris, the managing director of Bain & Co.’s Macro Trends Group, asked our panel of investing and economic experts to imagine, one year from now, what one thing will we look back on and wish we had understood.
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The answers:
Louis Gave, founding partner and CEO of GaveKal Research: We have seen the low in oil and a high for the U.S. dollar.
Mark Yusko, founder, CEO and CIO of Morgan Creek Capital: Every interest rate on the planet will go negative.
David Bahnsen founder, managing director and CIO of The Bahnsen Group: The Fed will avoid negative rates and less-leveraged companies will have been good buys.
Next year, we will see who was right.
Personally, I see us looking back on what I call the “Rocky Mountain Recovery,” with peaks of different sizes rising above the plains. Some sectors will boom; others will struggle in the valleys before rising. There will be no Vs or Us or swooshes or other simplistic metaphors. It will have exhilarating moments but also hard work and struggles.
I’m optimistic we will get a coronavirus vaccine fairly soon, speeding along recovery, but then we will be back to the same problems we had before. So, we will need to aim carefully, and will probably do better buying the best entrepreneurs instead of looking at companies.
Fellow boomers and entrepreneurs: If you can, find a few people to personally invest your money, time, and resources in. Help them get back on their feet. Take some time and mentor a few people to help get the country going again. Do it in your own backyard in whatever ways you can.


investmentwatchblog--2020-06-03--Black store owner speaks the TRUTH about Rioters

Something you won ’ t see on the MSM I saw a similar video of an elderly black man asking @ @ @ @ @ Very powerful .
And very sad that so many people are being used and so @ @ @ @ @ .

Something you won’t see on the MSM
I saw a similar video of an elderly black man asking the rioters similar questions. Very powerful. And very sad that so many people are being used and so much needless destruction is occurring.
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AC


investmentwatchblog--2020-06-03--For those of you who still think the stock market has anything whatsoever to do with the economy.

For those of you who still think the stock market has anything whatsoever to do with the economy. 🤯👇 t.co/OYVijuRSAy — George Gammon (@GeorgeGammon) June 3, 2020
With Q1 earnings season ending, scorecard doesn’t look great … % of S&P 500 members beating profit estimates as measured by @bloomberg at lowest since 2012 pic.twitter.com/gb8YVU9bCD — Liz Ann Sonders (@LizAnnSonders) June 3, 2020
Join the party! t.co/7tPLA4T1WT — Danielle DiMartino Booth (@DiMartinoBooth) June 3, 2020
If you believe our forecast for a -10% fall in 2020, Argentina's GDP this year is back to its 2007 level. For Brazil our forecast of -7% in 2020 takes us back to 2010. Mexico's fall of -9% returns us to 2013. A "lost decade" even before you factor in currency devaluation effects. pic.twitter.com/RnHrZ9q0RC — Robin Brooks (@RobinBrooksIIF) June 3, 2020
It's it amazing how CBs were put in a corner by economy and still trying to suppress the system while social volatility explodes in front of their doors with rapidly raising unemployment, looting, and consumption dropping.t.co/QOnjUcWSFU — GregTheAnalyst (@Analyst_G) June 3, 2020


investmentwatchblog--2020-06-03--“While 91% of Chinese cos have reopened, 2/5 are operating at under 50% capacity according to Chines

“While 91% of Chinese cos have reopened, 2/5 are operating at under 50% capacity according to Chinese business surveyor  @ChinaBeigeBook . W/the world shutdown there’s no one to sell to.”

`` While 91 % of Chinese cos have reopened , 2/5 are operating at under 50 % capacity according to @ @ @ @ @ .
W/the world shutdown there 's no one to sell to .
`` @ lopezlinettet.co/EMpE15W5mW

"While 91% of Chinese cos have reopened, 2/5 are operating at under 50% capacity according to Chinese business surveyor @ChinaBeigeBook. W/the world shutdown there's no one to sell to."@lopezlinettet.co/EMpE15W5mW
— China Beige Book (@ChinaBeigeBook) June 3, 2020


investmentwatchblog--2020-06-03--George Bush Makes Statement About George Floyd

The MSM is making a big deal that George Bush is speaking out against racism and Floyd , like he @ @ @ @ @ than President Trump .
Travel back in time with me to hurricane Katrina .
Do @ @ @ @ @ New Orleans being packed into a stadium with little food or water and limited bathrooms @ @ @ @ @ this stupid narrative ?

The MSM is making a big deal that George Bush is speaking out against racism and Floyd, like he was such a better POTUS than President Trump.
People have such short memories.
Bush’s statement:
[/youtube]
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Travel back in time with me to hurricane Katrina. Do you remember the people in New Orleans being packed into a stadium with little food or water and limited bathrooms?
That was a complete nightmare…
Anyone else sick of this stupid narrative?
h/t SouthSide


investmentwatchblog--2020-06-04--When Institutions Fail, Fragmentation and Decentralization Become Solutions

That which has failed is unsustainable , no matter how many trillions the Federal Reserve tosses against the tides of history .
The chapter titles of Michael Grant ’ s excellent account of The Fall of the Roman Empire identify the core dynamics of decline : The Gulfs Between the Classes The Groups That Opted Out Every one of these is a manifestation of institutional failure .
The Gulfs Between the Classes ( see chart of soaring inequality below ) manifests a completely broken economic and social order , and the abject failure of core institutions ( for example , @ @ @ @ @ @ @ Federal Reserve ) .
The Gulfs Between the Classes also reflects our pay-to-play political system , in which wealth buys political power and everyone else gets to watch a pantomime of democracy .
The Credibility Gap is as wide as the Grand Canyon , as unaccountable insiders comfortably secure in institutions do what serves their interests , which can be summarized as : Truth Is What We Hide , Cover Stories Are What We Sell .
Government agencies widen The Credibility Gap with bogus , rigged statistics and complexity thickets ( “ We @ @ @ @ @ @ @ you can find out what is in it.
” ) designed to make accountability and transparency effectively impossible .
The Partnerships That Failed include the alliances of various warring elites and the pantomime partnerships of elites and constituencies ( “ We pretend to obey and you pretend to listen to us.
” ) The Groups That Opted Out are as yet largely invisible because all the small business owners who closed down and stopped being Tax Donkeys are under the radar , and all the debt-serfs who have renounced their debts are carefully @ @ @ @ @ @ @ the enormity of the debt-serf opt-outs becomes visible .
The Groups That Opted Out include those who have lost trust in the corporate media , the government ’ s statistical claims and the leadership of failing institutions .
The Undermining of Effort manifests as the impossibility of reforming the institutions that have lost their legitimacy due to self-serving looting , incompetence and the disavowal of accountability , a topic I addressed in my books Why Things Are Falling Apart and Why Our Status Quo Failed and Is Beyond Reform .
When institutions have @ @ @ @ @ @ @ , the solution is fragmentation and decentralization so the unit size is reduced to the point where accountability and transparency can be enforced by the citizenry and/or members .
Management author Peter Drucker ( Post-Capitalist Society ) noted that in the transition to a post-capital economy , legacy institutions in everything from higher education to healthcare are the wrong unit size , meaning that they are too large to be effective , accountable and transparent , as their sheer mass encourages processes and thickets insiders can use to avoid accountability and transparency .
@ @ @ @ @ @ @ competition between transparently priced currencies will be the solution .
The ideal solution is a spectrum of currencies ranging from bitcoin and other mined cryptocurrencies to privately issued gold-backed currencies , state-issued gold-backed currencies , local currencies intended for use in local economies , and my proposed labor-backed currency which I outlined in my book A Radically Beneficial World .
Politically , city-states on the model of the Hanseatic League may prove to be the appropriate unit size , a topic Mark , Jesse and I discuss in our latest podcast AxisOfEasy Salon @ @ @ @ @ @ @ Decentralized Crypto-States ( 55:44 ) .
That which has failed is unsustainable , no matter how many trillions the Federal Reserve tosses against the tides of history .
The current travesty of a mockery of a sham system will fragment no matter how desperate the looters , parasites and predators are to maintain their swag .

by Charles Hugh-Smith
That which has failed is unsustainable, no matter how many trillions the Federal Reserve tosses against the tides of history.
The chapter titles of Michael Grant’s excellent account of The Fall of the Roman Empire identify the core dynamics of decline:
The Gulfs Between the Classes
The Credibility Gap
The Partnerships That Failed
The Groups That Opted Out
The Undermining of Effort
Every one of these is a manifestation of institutional failure. The Gulfs Between the Classes (see chart of soaring inequality below) manifests a completely broken economic and social order, and the abject failure of core institutions (for example, the source of wealth inequality, the Federal Reserve).
The Gulfs Between the Classes also reflects our pay-to-play political system, in which wealth buys political power and everyone else gets to watch a pantomime of democracy.
The Credibility Gap is as wide as the Grand Canyon, as unaccountable insiders comfortably secure in institutions do what serves their interests, which can be summarized as: Truth Is What We Hide, Cover Stories Are What We Sell.
We are primarily funded by readers. Please subscribe and donate to support us!
Government agencies widen The Credibility Gap with bogus, rigged statistics and complexity thickets (“We have to pass the bill so that you can find out what is in it.”) designed to make accountability and transparency effectively impossible.
The Partnerships That Failed include the alliances of various warring elites and the pantomime partnerships of elites and constituencies (“We pretend to obey and you pretend to listen to us.”)
The Groups That Opted Out are as yet largely invisible because all the small business owners who closed down and stopped being Tax Donkeys are under the radar, and all the debt-serfs who have renounced their debts are carefully hidden by the appropriate bureaucracies, lest the enormity of the debt-serf opt-outs becomes visible.
The Groups That Opted Out include those who have lost trust in the corporate media, the government’s statistical claims and the leadership of failing institutions.
The Undermining of Effort manifests as the impossibility of reforming the institutions that have lost their legitimacy due to self-serving looting, incompetence and the disavowal of accountability, a topic I addressed in my books Why Things Are Falling Apart and Why Our Status Quo Failed and Is Beyond Reform.
When institutions have lost public trust and thus their legitimacy, the solution is fragmentation and decentralization so the unit size is reduced to the point where accountability and transparency can be enforced by the citizenry and/or members.
Management author Peter Drucker (Post-Capitalist Society) noted that in the transition to a post-capital economy, legacy institutions in everything from higher education to healthcare are the wrong unit size, meaning that they are too large to be effective, accountable and transparent, as their sheer mass encourages processes and thickets insiders can use to avoid accountability and transparency.
When fiat currencies fail, fragmentation and competition between transparently priced currencies will be the solution. The ideal solution is a spectrum of currencies ranging from bitcoin and other mined cryptocurrencies to privately issued gold-backed currencies, state-issued gold-backed currencies, local currencies intended for use in local economies, and my proposed labor-backed currency which I outlined in my book A Radically Beneficial World.
Politically, city-states on the model of the Hanseatic League may prove to be the appropriate unit size, a topic Mark, Jesse and I discuss in our latest podcast AxisOfEasy Salon #6: The Hanseatic League of Decentralized Crypto-States (55:44).
That which has failed is unsustainable, no matter how many trillions the Federal Reserve tosses against the tides of history. The current travesty of a mockery of a sham system will fragment no matter how desperate the looters, parasites and predators are to maintain their swag.


investmentwatchblog--2020-06-04--The DOJ Has Launched An Investigation As More Evidence Emerges That Someone Is Orchestrating The Vio

The DOJ Has Launched An Investigation As More Evidence Emerges That Someone Is Orchestrating The Violent Riots

The Department of Justice has announced that it is attempting to determine if there is a “ coordinated command and control ” behind the violent riots that have erupted all over the United States .
In recent days , officials all over the country have used words such as “ organized ” and “ organizers ” to describe the orchestration that they have been witnessing in their respective cities .
And all over the U.S. , law enforcement officials have reported finding huge piles of rocks and bricks pre-staged at protest locations in advance , and scouts have often been @ @ @ @ @ @ @ police are not present .
In addition , something that we have been hearing over and over again is that many of the people that are involved in the violence are not known by any of the locals .
At this point , the evidence appears to be so overwhelming that some sort of national coordination is taking place that the Department of Justice has decided to launch a formal investigation… Federal law enforcement officials are probing whether “ criminal actors ” are coordinating violent activities during protests and are looking into reports @ @ @ @ @ @ @ been dropped off to throw at police and other law enforcement as cities across the country grapple with the uptick in violence , a senior Department of Justice official said .
“ You see the hallmarks… We ’ re trying to see if there ’ s a coordinated command and control , you see those bread crumbs and that ’ s what we ’ re trying to verify , ” said the Department of Justice official .
The orchestration of the violence appears to be most advanced in major cities such as New @ @ @ @ @ @ @ the NYPD , “ caches of bricks & rocks ” have been strategically placed all over the city during the past several days… The New York Police Department ’ s top cop is calling out “ organized looters , ” who he says are “ strategically ” leaving piles or buckets of debris on street corners citywide .
“ This is what our cops are up against : Organized looters , strategically placing caches of bricks & rocks at locations throughout NYC , ” NYPD Commissioner Dermot Shea wrote in a Wednesday morning @ @ @ @ @ @ @ four blue boxes filled with gray debris .
Of course it is entirely possible that someone is buying bricks for the rioters , but Shea has pointed out that several construction sites in the city have had bricks stolen from them… “ Pre-staged bricks are being placed and then transported to ‘ peaceful protests , ’ which are peaceful protests , but then used by that criminal group within , ” he said .
“ We ’ ve had construction sites burglarized in recent days in Manhattan … during a riot , it @ @ @ @ @ @ @ bricks.
” Shea explained how bricks had previously been thrown at NYPD members in the Bronx , and water bottles filled with cement have also been used as weapons .
So it would appear that someone has been stealing bricks and leaving them in pre-staged piles for the rioters .
But at this point we don ’ t know precisely who is doing this or why they are going to so much trouble .
It is also being reported that teams of looters armed with power tools are systematically working together to loot @ @ @ @ @ @ @ City .
The following is how one eyewitness described what she has been witnessing… One of the numerous police reports from eyewitnesses came from Carla Murphy , who lives in Chelsea .
Murphy , in an interview Tuesday , said she started hearing commotion from mobs of people along her street and neighboring streets about 10:30 p.m. Monday night .
She first watched from her building and then went down to the street and saw organized groups of people working together to break in to store after store in the West Side neighborhood @ @ @ @ @ @ @ let off the looters , unload power tools and suitcases and then the cars would drive away , ” she said .
“ Then the cars would come back pick them up and then drive off to the next spot .
They seemed to know exactly where they were going .
Some of the people were local , but there were a lot of out-of-towners.
” This isn ’ t just a few angry protesters smashing a few windows .
This is organized crime at a very high level , and these people @ @ @ @ @ @ @ Meanwhile , more evidence of coordination continues to emerge in other major cities as well… And for several more examples of this sort of orchestration , please see the article that I posted a couple of days ago .
It appears to be obvious that some sort of coordination is taking place , but now federal authorities are faced with the daunting task of trying to prove who is behind it .
According to Fox News , Justice Department officials are hoping to find “ ways in which we can exploit phones and @ @ @ @ @ @ @ mosaic to see if there ’ s a coordinated command and control , that ’ s what we ’ re looking for.
” It is believed that social media is being heavily used to direct the movement of rioters and looters , and that would mean that there should be digital trails for investigators to follow .
Needless to say , many Americans believe that “ Antifa ” is behind much of the violence , and a brand new Rasmussen Reports survey has found that 49 percent of all U.S. voters believe that @ @ @ @ @ @ @ Hopefully those responsible for the violence will be discovered and brought to justice , because what we have been witnessing over the past week has been absolutely horrible .
Unfortunately , the level of anger in this country is likely to continue to rise the closer we get to election day , and more eruptions of violence are likely in the months ahead .

by Michael Snyder
The Department of Justice has announced that it is attempting to determine if there is a “coordinated command and control” behind the violent riots that have erupted all over the United States. In recent days, officials all over the country have used words such as “organized” and “organizers” to describe the orchestration that they have been witnessing in their respective cities. And all over the U.S., law enforcement officials have reported finding huge piles of rocks and bricks pre-staged at protest locations in advance, and scouts have often been used to direct rioters to locations where police are not present. In addition, something that we have been hearing over and over again is that many of the people that are involved in the violence are not known by any of the locals. At this point, the evidence appears to be so overwhelming that some sort of national coordination is taking place that the Department of Justice has decided to launch a formal investigation…
Federal law enforcement officials are probing whether “criminal actors” are coordinating violent activities during protests and are looking into reports that “rocks and bricks” have been dropped off to throw at police and other law enforcement as cities across the country grapple with the uptick in violence, a senior Department of Justice official said. “You see the hallmarks… We’re trying to see if there’s a coordinated command and control, you see those bread crumbs and that’s what we’re trying to verify,” said the Department of Justice official.
The orchestration of the violence appears to be most advanced in major cities such as New York. According to the head of the NYPD, “caches of bricks & rocks” have been strategically placed all over the city during the past several days…
The New York Police Department’s top cop is calling out “organized looters,” who he says are “strategically” leaving piles or buckets of debris on street corners citywide. “This is what our cops are up against: Organized looters, strategically placing caches of bricks & rocks at locations throughout NYC,” NYPD Commissioner Dermot Shea wrote in a Wednesday morning tweet, along with a video showing four blue boxes filled with gray debris.
Of course it is entirely possible that someone is buying bricks for the rioters, but Shea has pointed out that several construction sites in the city have had bricks stolen from them…
“Pre-staged bricks are being placed and then transported to ‘peaceful protests,’ which are peaceful protests, but then used by that criminal group within,” he said. “We’ve had construction sites burglarized in recent days in Manhattan … during a riot, it’s interesting what was taken – bricks.” Shea explained how bricks had previously been thrown at NYPD members in the Bronx, and water bottles filled with cement have also been used as weapons.
So it would appear that someone has been stealing bricks and leaving them in pre-staged piles for the rioters.
But at this point we don’t know precisely who is doing this or why they are going to so much trouble.
It is also being reported that teams of looters armed with power tools are systematically working together to loot one location after another in New York City. The following is how one eyewitness described what she has been witnessing…
One of the numerous police reports from eyewitnesses came from Carla Murphy, who lives in Chelsea. Murphy, in an interview Tuesday, said she started hearing commotion from mobs of people along her street and neighboring streets about 10:30 p.m. Monday night. She first watched from her building and then went down to the street and saw organized groups of people working together to break in to store after store in the West Side neighborhood. “Cars would drive up, let off the looters, unload power tools and suitcases and then the cars would drive away,” she said. “Then the cars would come back pick them up and then drive off to the next spot. They seemed to know exactly where they were going. Some of the people were local, but there were a lot of out-of-towners.”
This isn’t just a few angry protesters smashing a few windows.
This is organized crime at a very high level, and these people know exactly what they are doing.
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Meanwhile, more evidence of coordination continues to emerge in other major cities as well…
In Tampa, there were reports that members of the bomb team found mortars in bushes downtown, and bricks and other items were hidden in trash cans to throw at police officers. In Seattle, a video out up online by an anarchist shows that around midnight, a crowd of 100-150 nearly all-white agitators with umbrellas started throwing bottles at police.
And for several more examples of this sort of orchestration, please see the article that I posted a couple of days ago.
It appears to be obvious that some sort of coordination is taking place, but now federal authorities are faced with the daunting task of trying to prove who is behind it.
According to Fox News, Justice Department officials are hoping to find “ways in which we can exploit phones and data communications that could give us a mosaic to see if there’s a coordinated command and control, that’s what we’re looking for.”
It is believed that social media is being heavily used to direct the movement of rioters and looters, and that would mean that there should be digital trails for investigators to follow.
Needless to say, many Americans believe that “Antifa” is behind much of the violence, and a brand new Rasmussen Reports survey has found that 49 percent of all U.S. voters believe that it should be declared a terror organization…
The latest Rasmussen Reports national telephone and online survey finds that 49% of Likely U.S. Voters think the “antifa” movement should be designated a terrorist organization. Thirty percent (30%) disagree, while 22% are undecided.
Hopefully those responsible for the violence will be discovered and brought to justice, because what we have been witnessing over the past week has been absolutely horrible.
Unfortunately, the level of anger in this country is likely to continue to rise the closer we get to election day, and more eruptions of violence are likely in the months ahead.


investmentwatchblog--2020-06-04--“Extreme Looting”: We Are Seeing Looters Use Absolutely Crazy Tactics That Have Never Been Seen Befo

“Extreme Looting”: We Are Seeing Looters Use Absolutely Crazy Tactics That Have Never Been Seen Before

Do you have to go to “ looting school ” to learn this stuff ?
It is not that difficult to smash a few store windows and grab a few things , but some of the incidents that we have witnessed over the last several days have been so bizarre that it is hard to believe that they are actually real .
In fact , if they were put into a big Hollywood disaster movie at lot of people would probably dismiss them as “ unrealistic ” .
But it is very important to understand what is going on out @ @ @ @ @ @ @ us a preview of coming attractions .
If they will sink to such depths now , what will they be willing to do once things get really , really bad in this country ?
There are so many examples that I could share with you , but I think that I will start with the looters in Fairfield , California that decided to use a telescopic forklift to break down the doors of a Best Buy store… I suppose that the moral of this story is that you should never leave a telescopic @ @ @ @ @ @ @ it .
Now that criminals have seen how much they can get away with , they are going to become more emboldened than ever , and the entire west coast is going to be a major danger zone for the foreseeable future .
In the East Bay area , police say that “ caravans of cars full of looters ” have been roaming around systematically searching for targets .
Authorities have been trying to crack down on these caravans of looters , but that has proven to be quite difficult because many of @ @ @ @ @ @ @ northern California , one group of looters just pulled off an absolutely stunning heist that is like something out of a “ Fast and Furious ” film… This means that at least 70 looters must have descended upon that dealership simultaneously , because each of those vehicles would have required a driver .
If you stop and try to envision what that must have looked like , it will send a chill up your spine .
Of course it isn ’ t just the west coast that is dealing with such over the @ @ @ @ @ @ @ Rachel Olding described the crazy looting that we just witnessed in Midtown Manhattan… These are the stores where the Wall Street elite shop .
If law enforcement authorities can ’ t even keep that area secure , do you think that any city in the entire country is truly safe at this point ?
And some of these looters are not exactly “ impoverished ” .
In fact , the New York Post is reporting that some of the looters were pulling up to the stores “ in luxury SUVs ” … I @ @ @ @ @ @ @ police in New York City were doing .
They had to know that the luxury retail outlets in Midtown Manhattan would be prime targets , and yet this was allowed to happen anyway .
Down in Philadelphia , the looting has been absolutely insane .
Just yesterday , I discussed the fact that looters were allowed to loot one drugstore for 15 hours straight .
Elsewhere in the city , one very ambitious looter ended up dying in a botched attempt to blow up an ATM machine… Needless to say , bank robbery @ @ @ @ @ @ @ George Floyd .
All over America , thousands upon thousands of criminals are using the George Floyd protests as an opportunity to commit crimes , and the fact that it is happening on such a widespread basis is extremely sobering .
At this point , things have gotten so crazy that looters are even looting from other looters .
The U.S. is descending into madness , and many people believe that this is just the beginning .
Of course all of this rampant lawlessness is deeply alarming millions upon millions of ordinary citizens @ @ @ @ @ @ @ deeply concerned that this sort of behavior could start spreading into the suburbs and beyond .
In fact , Polk County Sheriff Judd Grady has publicly acknowledged that in his county “ some folks were threatening to take their criminal conduct into the neighborhoods ” … Hopefully things will start to cool down at least for a while .
But many Americans understand that it is just a matter of time before more violence erupts , and so they are preparing to defend themselves and their families .
Gun sales are absolutely soaring @ @ @ @ @ @ @ York says that he has been so busy that he is literally running out of stuff to sell… Just six months ago , life in America seemed so “ normal ” , but now everything has changed .
All of the anger that has been building up for years is now starting to boil over , and the upcoming election in November is just going to increase tensions even more .
So please be very careful out there , because our society really is starting to fall apart right in front of our @ @

by Michael Snyder
Do you have to go to “looting school” to learn this stuff? It is not that difficult to smash a few store windows and grab a few things, but some of the incidents that we have witnessed over the last several days have been so bizarre that it is hard to believe that they are actually real. In fact, if they were put into a big Hollywood disaster movie at lot of people would probably dismiss them as “unrealistic”. But it is very important to understand what is going on out there, because these looters are giving us a preview of coming attractions. If they will sink to such depths now, what will they be willing to do once things get really, really bad in this country?
There are so many examples that I could share with you, but I think that I will start with the looters in Fairfield, California that decided to use a telescopic forklift to break down the doors of a Best Buy store…
A particularly brazen attempt by looters to storm a store in Fairfield, California, has been caught on video, showing them commandeering what appears to be a telescopic forklift to force their way in. A video has emerged showing vandals using heavy equipment on the doors of the Best Buy store in Fairfield, a city in Solano County, located between San Francisco and Sacramento.
Looters Use Telescopic Forklift To Break Into Best Buy In Fairfield, California pic.twitter.com/PKIkjAeKU6 — GrantB911 (@GrantB911) June 2, 2020
I suppose that the moral of this story is that you should never leave a telescopic forklift sitting around where looters might find it.
Now that criminals have seen how much they can get away with, they are going to become more emboldened than ever, and the entire west coast is going to be a major danger zone for the foreseeable future.
In the East Bay area, police say that “caravans of cars full of looters” have been roaming around systematically searching for targets. Authorities have been trying to crack down on these caravans of looters, but that has proven to be quite difficult because many of them are heavily armed.
Elsewhere in northern California, one group of looters just pulled off an absolutely stunning heist that is like something out of a “Fast and Furious” film…
Police in Northern California are searching for suspects after rioters reportedly stole more than 70 premium cars from a dealership near San Francisco Sunday night. San Leandro Chrysler Dodge Jeep dealership owner Carlos Hidalgo said that although he blocked the exits as a precaution, the thieves “started ramming, ramming until they could get out. They took out chains and fence posts. It was a very malicious act,” FOX 2 in Oakland reported.
This means that at least 70 looters must have descended upon that dealership simultaneously, because each of those vehicles would have required a driver.
If you stop and try to envision what that must have looked like, it will send a chill up your spine.
Of course it isn’t just the west coast that is dealing with such over the top criminality. The following is how Rachel Olding described the crazy looting that we just witnessed in Midtown Manhattan…
Hard to describe how rampant the looting was tonight in Midtown Manhattan and how lawless it was. Complete anarchy. Literally hundreds of stores up and down Broadway, Fifth Ave, Sixth Ave. Kids ruling the streets like it was a party.
These are the stores where the Wall Street elite shop.
If law enforcement authorities can’t even keep that area secure, do you think that any city in the entire country is truly safe at this point?
And some of these looters are not exactly “impoverished”. In fact, the New York Post is reporting that some of the looters were pulling up to the stores “in luxury SUVs”…
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New York City looters were caught on camera pulling up in luxury SUVs — including what was claimed to be a pricey Rolls-Royce — before apparently looting an upscale retail store in Manhattan, according to footage shared on social media. The video, filmed by Justine Miller and Keith Feldman, shows a group of men in masks hopping out of two cars and charging through a smashed door in Soho before running back outside carrying boxes of goods on Monday night.
I honestly don’t know what the police in New York City were doing.
They had to know that the luxury retail outlets in Midtown Manhattan would be prime targets, and yet this was allowed to happen anyway.
Down in Philadelphia, the looting has been absolutely insane. Just yesterday, I discussed the fact that looters were allowed to loot one drugstore for 15 hours straight. Elsewhere in the city, one very ambitious looter ended up dying in a botched attempt to blow up an ATM machine…
A looter has been killed in a botched ATM explosion in Philadelphia, that police believe was part of a ‘coordinated’ effort to raid 30 machines across the city over a series of two nights. Police said the 24-year-old man died early Tuesday, several hours after attempting to break into an ATM with explosives in the north of the city.
Needless to say, bank robbery has nothing to do with justice for George Floyd.
All over America, thousands upon thousands of criminals are using the George Floyd protests as an opportunity to commit crimes, and the fact that it is happening on such a widespread basis is extremely sobering.
At this point, things have gotten so crazy that looters are even looting from other looters. The U.S. is descending into madness, and many people believe that this is just the beginning.
Of course all of this rampant lawlessness is deeply alarming millions upon millions of ordinary citizens, and a lot of people are deeply concerned that this sort of behavior could start spreading into the suburbs and beyond. In fact, Polk County Sheriff Judd Grady has publicly acknowledged that in his county “some folks were threatening to take their criminal conduct into the neighborhoods”…
Grady said the department “had received information on social media that some folks were threatening to take their criminal conduct into the neighborhoods.” “I would tell them, if you value your life, they probably shouldn’t do that in Polk County,” Grady said. “Because the people of Polk County like guns, they have guns, I encourage them to own guns, and they’re going to be in their homes tonight with their guns loaded, and if you try to break into their homes to steal, to set fires, I’m highly recommending they blow you back out of the house with their guns. So, leave the community alone.”
Hopefully things will start to cool down at least for a while.
But many Americans understand that it is just a matter of time before more violence erupts, and so they are preparing to defend themselves and their families. Gun sales are absolutely soaring, and one shop owner in New York says that he has been so busy that he is literally running out of stuff to sell…
Phones have been ringing off the hook and the line has been wrapped around the building at Coliseum Gun Traders in Uniondale, Nassau County, ever since the coronavirus pandemic began. And now with protests and rioting after the killing of George Floyd, the store has seen another enormous spike in sales. Keeping the shelves stocked has been hard, store owner Andy Chernoff said. “We started out this week with a fair amount of merchandise. We’re running out. Literally running out,” Chernoff said. “Never thought I’d say that.”
Just six months ago, life in America seemed so “normal”, but now everything has changed.
All of the anger that has been building up for years is now starting to boil over, and the upcoming election in November is just going to increase tensions even more.
So please be very careful out there, because our society really is starting to fall apart right in front of our eyes.


investmentwatchblog--2020-06-04--[DS] Power Structure Dismantled, Think Military, Think Arrests, Good & Green

The [ DS ] /MSM 2nd event has failed big time , the patriots now have the green light , @ @ @ @ @ RR ] testified today and this was the shaping of the narrative so the people @ @ @ @ @ about .
[ RR ] who was the head of the investigation blamed it on @ @ @ @ @ people testify it will back those who planned and the MSM back in the corner @ @ @ @ @ and indictments are ready , the military has the go green signal to move forward @ @ @ @ @ the [ DS ] army .

The [DS]/MSM 2nd event has failed big time, the patriots now have the green light, its go time. [RR] testified today and this was the shaping of the narrative so the people understand how this all came about. [RR] who was the head of the investigation blamed it on the FBI. As more people testify it will back those who planned and the MSM back in the corner. Q dropped some bread and indictments are ready, the military has the go green signal to move forward. The patriots are dismantling the [DS] army.
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investmentwatchblog--2020-06-04--This is What Heavy-Truck Manufacturers Face After a 19-Month Order Collapse to Historic Lows

“ The recovery is expected to be slow and uneven .
It has not started quite yet based on the weak Class 8 orders in May.
” The last three months have been catastrophic for segments of the trucking business , after an already tough period that started in late 2018 .
In May , orders for Class 8 trucks – the heavy trucks that haul much of the goods-based economy across the US – plunged 37 % from the low levels in May a year earlier , and by 81 % from May two years ago , to 6,600 @ @ @ @ @ @ @ Transportation Intelligence today .
In April , orders for Class 8 trucks had collapsed by 73 % to 4,000 units , the lowest in the data going back to 1996 .
In March , orders had plunged by 52 % to 7,400 trucks , the lowest since 2010 : May was punctuated by the bankruptcy of Comcar Industries , operator of four trucking companies with about 950 employees , including 700 drivers : CCC Transportation , a bulk carrier , and CT Transportation , a flatbed carrier , both focused construction materials ; @ @ @ @ @ @ @ transporter ; and MCT Transportation , a refrigerated and dry van commodities carrier .
The privately owned company , whose largest shareholder was Pimco , plans to liquidate in bankruptcy court by selling off its trucking divisions , for which it had already lined up buyers .
In 2019 , as a result of the sharp downturn in the freight business , declining mileage rates , and pressures from debt , hundreds of smaller trucking companies filed for bankruptcy .
But Celadon ’ s chaotic collapse and bankruptcy in December that left some @ @ @ @ @ @ @ stranded in North America marked the largest truckload-carrier bankruptcy in US history .
The May plunge in orders reduced the 12-month total of Class-8 orders to 155,000 trucks , down nearly 70 % from the 12-month total at the peak through October 2018 of about 500,000 trucks .
This may be about as low as it ’ s going to get .
Economic activity is starting to pick up from low levels , and freight volumes have bottomed out as well , though “ fleets remain reluctant to order trucks , ” FTR @ @ @ @ @ @ @ The recovery is expected to be slow and uneven .
It has not started quite yet based on the weak Class 8 orders in May , ” FTR said .
“ Most of the country still had some severe restraints in place for part of May .
It is difficult for fleets to plan for future equipment needs under these highly abnormal conditions , ” Don Ake , VP commercial vehicles , said in the statement .
“ Carriers are more worried about what ’ s happening today , about their manpower needs @ @ @ @ @ @ @ .
The concern about the pandemic goes beyond just the business and economic anxieties and greatly diminishes fleet confidence , ” he said .
“ Expect Class 8 orders to rise gradually , as caution wanes and fleet buyers begin to focus on the second half of the year and equipment requirements , ” he said .
US truck manufacturers suspended production in March due to the pandemic .
This too has now become part of the theme in many industries : a happening at the same time .
Demand collapsed and supply @ @ @ @ @ @ @ .
This can make for some unpredictable dynamics afterwards .
Class-8 orders – and much of the rest of the trucking business – went through a sequential double-whammy : First the freight recession in 2019 that followed the historic boom of 2018 ; and second , when orders were starting to bottom out in late 2019 and early this year , the pandemic .
The chart below shows the monthly percent changes of Class 8 orders from the same month a year earlier .
January ’ s first year-over-year minuscule uptick after 14 @ @ @ @ @ @ @ wiped out in the following months : “ Sales , ” which lag “ orders ” by months , started skidding last October The lag between the day an end-user , such as a trucking company , places the order , and the day the truck is delivered to the end-user spans many months .
During the peak ordering panic of the boom in 2018 , when the backlog at truck makers was huge , the lag between orders and sales could reach a year .
So “ sales ” of trucks remained @ @ @ @ @ @ @ “ orders ” in 2019 , as truck makers were working off their backlogs and booked record sales .
The Bureau of Economic Analysis reports sales of heavy trucks ( over 33,000 pounds GVW ) and of medium-duty trucks ( classes 4-7 , from 14,000 to 33,000 pounds GVW ) , all combined .
Those sales peaked in September – over a year after Class 8 orders had peaked in August 2018 .
In October , sales started plunging .
In May , according to data by the BEA , sales of heavy @ @ @ @ @ @ @ % year-over-year , to 30,600 trucks ( seasonally adjusted ) after having plunged 38.6 % in April .
The May sales were for orders placed months before the pandemic .
The impact of the pandemic – the historically low orders placed in March , April , and May – will not show up in the sales data for months : During the Financial Crisis , sales of heavy and medium-duty trucks bottomed out at 15,000 units in April 2009 , after having peaked in 2006 .
This time around , given the historic @ @ @ @ @ @ @ months , sales will likely bottom out near or below those levels sometime later this year .
And as the chart above shows , the recovery following the Financial Crisis back to the peak of sales before the Financial Crisis in 2006 took 13 years .

“The recovery is expected to be slow and uneven. It has not started quite yet based on the weak Class 8 orders in May.”
The last three months have been catastrophic for segments of the trucking business, after an already tough period that started in late 2018. In May, orders for Class 8 trucks – the heavy trucks that haul much of the goods-based economy across the US – plunged 37% from the low levels in May a year earlier, and by 81% from May two years ago, to 6,600 orders, according to estimates by FTR Transportation Intelligence today.
In April, orders for Class 8 trucks had collapsed by 73% to 4,000 units, the lowest in the data going back to 1996. In March, orders had plunged by 52% to 7,400 trucks, the lowest since 2010:
May was punctuated by the bankruptcy of Comcar Industries, operator of four trucking companies with about 950 employees, including 700 drivers: CCC Transportation, a bulk carrier, and CT Transportation, a flatbed carrier, both focused construction materials; CTL Transportation, a liquid bulk chemical transporter; and MCT Transportation, a refrigerated and dry van commodities carrier.
The privately owned company, whose largest shareholder was Pimco, plans to liquidate in bankruptcy court by selling off its trucking divisions, for which it had already lined up buyers.
In 2019, as a result of the sharp downturn in the freight business, declining mileage rates, and pressures from debt, hundreds of smaller trucking companies filed for bankruptcy. But Celadon’s chaotic collapse and bankruptcy in December that left some of its 3,000 drivers and 2,700 tractors stranded in North America marked the largest truckload-carrier bankruptcy in US history.
The May plunge in orders reduced the 12-month total of Class-8 orders to 155,000 trucks, down nearly 70% from the 12-month total at the peak through October 2018 of about 500,000 trucks.
This may be about as low as it’s going to get. Economic activity is starting to pick up from low levels, and freight volumes have bottomed out as well, though “fleets remain reluctant to order trucks,” FTR said in the emailed statement.
“The recovery is expected to be slow and uneven. It has not started quite yet based on the weak Class 8 orders in May,” FTR said.
“Most of the country still had some severe restraints in place for part of May. It is difficult for fleets to plan for future equipment needs under these highly abnormal conditions,” Don Ake, VP commercial vehicles, said in the statement.
“Carriers are more worried about what’s happening today, about their manpower needs and short-term issues, than ordering trucks. The concern about the pandemic goes beyond just the business and economic anxieties and greatly diminishes fleet confidence,” he said.
We are primarily funded by readers. Please subscribe and donate to support us!
“Expect Class 8 orders to rise gradually, as caution wanes and fleet buyers begin to focus on the second half of the year and equipment requirements,” he said.
US truck manufacturers suspended production in March due to the pandemic. This too has now become part of the theme in many industries: a supply-and-demand shock happening at the same time. Demand collapsed and supply was shut down due to the pandemic. This can make for some unpredictable dynamics afterwards.
Class-8 orders – and much of the rest of the trucking business – went through a sequential double-whammy: First the freight recession in 2019 that followed the historic boom of 2018; and second, when orders were starting to bottom out in late 2019 and early this year, the pandemic.
The chart below shows the monthly percent changes of Class 8 orders from the same month a year earlier. January’s first year-over-year minuscule uptick after 14 months in a row of declines was wiped out in the following months:
“Sales,” which lag “orders” by months, started skidding last October
The lag between the day an end-user, such as a trucking company, places the order, and the day the truck is delivered to the end-user spans many months. During the peak ordering panic of the boom in 2018, when the backlog at truck makers was huge, the lag between orders and sales could reach a year. So “sales” of trucks remained strong through much of the swoon in “orders” in 2019, as truck makers were working off their backlogs and booked record sales.
The Bureau of Economic Analysis reports sales of heavy trucks (over 33,000 pounds GVW) and of medium-duty trucks (classes 4-7, from 14,000 to 33,000 pounds GVW), all combined. Those sales peaked in September – over a year after Class 8 orders had peaked in August 2018. In October, sales started plunging.
In May, according to data by the BEA, sales of heavy and medium-duty trucks combined plunged by 32.8% year-over-year, to 30,600 trucks (seasonally adjusted) after having plunged 38.6% in April.
The May sales were for orders placed months before the pandemic. The impact of the pandemic – the historically low orders placed in March, April, and May – will not show up in the sales data for months:
During the Financial Crisis, sales of heavy and medium-duty trucks bottomed out at 15,000 units in April 2009, after having peaked in 2006. This time around, given the historic collapse in orders over the past three months, sales will likely bottom out near or below those levels sometime later this year.
And as the chart above shows, the recovery following the Financial Crisis back to the peak of sales before the Financial Crisis in 2006 took 13 years.


investmentwatchblog--2020-06-04--42% of Layoffs Permanent? Debt Growing and Cashing In Retirement Accounts!

How will people pay their bills ?
The income is gone for some many .
Stimulus can only provide so @ @ @ @ @ time is running out .
The recovery will not be easy particularly as more issues @ @ @ @ @ past few days .
With the Fed standing by at all times , investors feel @ @ @ @ @ , and their risk tolerance .
But what lurks around the corner is anyone ’ @ @ @ @ @ coronavirus will cost the economy nearly $ 8 trillion , Congressional Budget Office says

How will people pay their bills? The income is gone for some many. Stimulus can only provide so much and it looks like time is running out. The recovery will not be easy particularly as more issues have compounded just in the past few days. With the Fed standing by at all times, investors feel confident about leverage, margin, and their risk tolerance. But what lurks around the corner is anyone’s best guess.
The coronavirus will cost the economy nearly $8 trillion, Congressional Budget Office says
www.cnbc.com/2020/06/01/the-coronavirus-will-cost-the-economy-nearly-8-trillion-congressional-budget-office-says.html
COVID-19 Is Also a Reallocation Shock | BFI
bfi.uchicago.edu/working-paper/covid-19-is-also-a-reallocation-shock/
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China Halts Some U.S. Farm Imports, Threatening Trade Deal – Bloomberg
www.bloomberg.com/news/articles/2020-06-01/china-halts-some-u-s-farm-imports-threatening-trade-deal
UPDATE 1-India’s electricity generation falls 14.3% in May – Agricultural Commodities – Reuters
af.reuters.com/article/commoditiesNews/idAFL4N2DE26L


investmentwatchblog--2020-06-04--Waiting for a second market dip while the first one isn’t over?

Image says it all :

by HamsterHearthstone
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Image says it all:


investmentwatchblog--2020-06-04--1929 Vs Now: Are We Headed For The Greatest Depression? with Mike Maloney

“ What ’ s coming will be the weirdest , most twisted thing you ’ ve ever seen , something that will be very hard to predict—so the more educated you are on history the better chance you ’ ll have at surviving it.
” This sobering quote from Mike Maloney highlights why he devotes his new video to the Great Depression… because it can offer valuable insights into what could be ahead for us today .
When Mike wrote his bestselling book Guide to Investing in Gold & Silver , he studied many sources about the Great Depression , @ @ @ @ @ @ @ to get a broad view of what happened .
Mike will share those books with you… but as he says , he ended up doing so much research that two-thirds of what he ’ d written about the Great Depression had to be cut !
Sit back and enjoy Mike reading some excerpts of what was cut from his book , along with some photos and other quotes from that painful era .
Listen to how they sound oh-so-familiar to what is happening today .
The future may be unknown , but the @ @ @ @ @ @ @ can be prepared for whatever may come .
Tune in to watch Mike talk about the lessons he learned from studying one of the most painful economic periods in US history .

by Mike Maloney
“What’s coming will be the weirdest, most twisted thing you’ve ever seen, something that will be very hard to predict—so the more educated you are on history the better chance you’ll have at surviving it.”
This sobering quote from Mike Maloney highlights why he devotes his new video to the Great Depression… because it can offer valuable insights into what could be ahead for us today.
We are primarily funded by readers. Please subscribe and donate to support us!
When Mike wrote his bestselling book Guide to Investing in Gold & Silver, he studied many sources about the Great Depression, but he relied mostly on three books to get a broad view of what happened. Mike will share those books with you… but as he says, he ended up doing so much research that two-thirds of what he’d written about the Great Depression had to be cut!
Sit back and enjoy Mike reading some excerpts of what was cut from his book, along with some photos and other quotes from that painful era. Listen to how they sound oh-so-familiar to what is happening today.
The future may be unknown, but the more you study history the more you can be prepared for whatever may come. Tune in to watch Mike talk about the lessons he learned from studying one of the most painful economic periods in US history.


investmentwatchblog--2020-06-04--While we’re on the topic of looting.

While we’re on the topic of looting.

The 'why ' and how : Top 20 % owns 84 % of assets .
Gov't debt is spiraling while @ @ @ @ @ corporations + their shareholders .
The Fed and other central banks printed $ 15T to @ @ @ @ @ in 20 yrs ) with gains to Top 20 % .
# GetRichQuickforTop20 pic.twitter.com/wVHakptljo

The 'why' and how: Top 20% owns 84% of assets. Gov't debt is spiraling while spending diverted by lobbyists to corporations + their shareholders. The Fed and other central banks printed $15T to inflate another bubble (3rd in 20 yrs) with gains to Top 20%. #GetRichQuickforTop20 pic.twitter.com/wVHakptljo
— M/I_Investments (@MI_Investments) February 2, 2020


investmentwatchblog--2020-06-04--Small cap more overvalued than anytime in history. U.S. companies issue shares at fastest rate ever!

U.S. companies issue shares at fastest rate ever U.S. public companies sold over $ 60 billion in shares last month @ @ @ @ @ ever , as they capitalized on a stock market rally fueled by hopes that the @ @ @ @ @

Small cap more overvalued than anytime in history. pic.twitter.com/oRcFgOszEf — Jim Bianco (@biancoresearch) June 3, 2020
U.S. companies issue shares at fastest rate ever
Reuters, Released on 6/1/20
We are primarily funded by readers. Please subscribe and donate to support us!
U.S. public companies sold over $60 billion in shares last month, the biggest monthly haul ever, as they capitalized on a stock market rally fueled by hopes that the COVID-19 pandemic is subsiding.
Hedge funds & others "have essentially been bailed out by the Fed" in recent months: ex-NY Fed's Dudley. "If people become very leveraged & they’re big enough to be systemic, then I think there needs to be some regulation to reel that in.” t.co/EAHccZ75fF — Lisa Abramowicz (@lisaabramowicz1) June 3, 2020


investmentwatchblog--2020-06-04--Troubling COVID clinical assessment. Some recovered ICU patients may not be able to go back to work.

Troubling COVID clinical assessment .
Some recovered ICU patients may not be able to go back to work .
Disease @ @ @ @ @ illness , akin to TB , syphilis , polio , and HIV .
# COVID19 @

Troubling COVID clinical assessment. Some recovered ICU patients may not be able to go back to work. Disease is compared to a multi-organ illness, akin to TB, syphilis, polio, and HIV. #COVID19 t.co/YST7wyqP3x
— Eric Feigl-Ding (@DrEricDing) June 3, 2020


investmentwatchblog--2020-06-04--We are closing my target of fib 0.782(3133). Moment of truth. VIX could take-off

We are closing my target of fib 0.782 ( 3133 ) .Moment of truth .
We need to watch leaders @ @ @ @ @ $ MSFT for clues .
Trouble usually comes when they close below EMA21 .
We @ @ @ @ @ quite common for parabolas to bounce of MA200 after sell-off .
$ VIX could take-off @

We are closing my target of fib 0.782(3133).Moment of truth.
We need to watch leaders such as $APPL and $MSFT for clues. Trouble usually comes when they close below EMA21.
We also know that it is quite common for parabolas to bounce of MA200 after sell-off. $VIX could take-off pic.twitter.com/y7P9IfiQdU
— Hoz (@Hoz94s) June 3, 2020


investmentwatchblog--2020-06-04--Nope! Your white-collar job isn’t safe!! Most households are near broke. Money printing doesn’t fix

Nope! Your white-collar job isn’t safe!! Most households are near broke. Money printing doesn’t fix the economy.

Red line = money printed for financiers. White line = everyone else. Hope y’all enjoyed that $1,200 check. t.co/QdRj9J2efX — Michael Krieger (@LibertyBlitz) June 3, 2020
MOST HOUSEHOLDS ARE NEAR BROKE pic.twitter.com/dtgbOJKORQ — Win Smart, CFA (@WinfieldSmart) June 3, 2020
Business Bankruptcy Filings (May) pic.twitter.com/wO0SNN5y2X — Don Draper (@DonDraperClone) June 3, 2020
Small business job index below 09 pic.twitter.com/IPFARmPIG5 — Win Smart, CFA (@WinfieldSmart) June 3, 2020
One of the areas that perhaps remains the weakest in ISM's survey has been that of Employment. There was not a single industry that reported an increase in employment in May: t.co/KH9O9iK8Ji pic.twitter.com/Zl5Co9saeh — Bespoke (@bespokeinvest) June 3, 2020
Total new orders for manufacturing industries fell 36.7% annualized in the three months ending April versus the prior three months while sales on the same basis fell 15%.
Read more in tonight's Closer: t.co/4yegPq7qlX pic.twitter.com/4bIl0PrYR1 — Bespoke (@bespokeinvest) June 3, 2020
The Cherry On Top F*cking unreal 😉 t.co/OopWOxmxAv — Reminiscences of an American Capitalist (@4Awesometweet) June 3, 2020


investmentwatchblog--2020-06-04--Zoom now worth $62b, P/E over 6000

Zoom now worth $62b, P/E over 6000

Lol , what could go wrong ?
62B for a video conference call app .
Nothing to see here so @ @ @ @

by shwoopdiwoop
We are primarily funded by readers. Please subscribe and donate to support us!
Lol, what could go wrong? 62B for a video conference call app. Nothing to see here so keep buying more.


investmentwatchblog--2020-06-04--Black lady yells at protesters who ruined her neighborhood

This lady also served her country for 10 years !
Very smart young lady !

This lady also served her country for 10 years! Very smart young lady !
We are primarily funded by readers. Please subscribe and donate to support us!
CT


investmentwatchblog--2020-06-04--Wall to Wall: Impact of Coronavirus on Franchise Owners

President Trump is poised to sign a bill to fix the Paycheck Protection Program after it cleared the House and @ @ @ @ @ help small business owners keep employees on their payroll and give them more flexibility on @ @ @ @ @ relief funds .
On Wall to Wall , Greta spoke with Executive Director of the @ @ @ @ @ Misty Chally , about how franchise owners , who operate as self-owned businesses , are @ @ @ @ @ whether they qualify for government assistance .

President Trump is poised to sign a bill to fix the Paycheck Protection Program after it cleared the House and Senate. The bill will help small business owners keep employees on their payroll and give them more flexibility on how they can spend coronavirus relief funds. On Wall to Wall, Greta spoke with Executive Director of the Coalition of Franchisee Associations, Misty Chally, about how franchise owners, who operate as self-owned businesses, are being impacted by coronavirus and whether they qualify for government assistance.
We are primarily funded by readers. Please subscribe and donate to support us!


investmentwatchblog--2020-06-04--RUSH: The best way to understand what’s happening in America today is to go out and learn about the

RUSH: The best way to understand what’s happening in America today is to go out and learn about the Chinese Cultural Revolution.

RUSH : I ’ ve got a piece I just want to give you a heads-up on at The Federalist .
It ’ s by John Daniel Davidson .
“ The Struggle Sessions Are Here , And They ’ re Not Going Away.
” And the best way to understand what ’ s happening in America today is to go out and learn about the Chinese Cultural Revolution .
That is what is underway .
That ’ s what the American left ’ s model for all of this that ’ s going today and the attempt to re-indoctrinate the @ @ @ @ @ @ @ going and apologizing for being whatever they are and for kneeling down , the Chinese Cultural Revolution .
I ’ ll give you a little head start on that with the aid of this piece as the program unfolds .
RUSH : I mentioned earlier that I want to share with you elements of a column today that runs at The Federalist : “ The Struggle Sessions Are Here , and They Are Not Going Away.
” It ’ s by John Daniel Davidson .
The subheadline is : “ The left ’ @ @ @ @ @ @ @ America is irredeemably racist has led to the emergence of a new regime in American life , ” and , by the way , it is .
He ’ s right .
It ’ s a “ multi-decade project.
” This is an ongoing effort to teach everybody that America is… When he says “ irredeemably , ” that is exactly right .
We can not fix America .
We can not overcome the original sins — and , by the way , they are not just slavery .
Practically everything the white @ @ @ @ @ @ @ this country is unjust and immoral precisely because they were white Founding Fathers .
But the key point is that as far as… That ’ s why Mattis going out here talking about Trump ’ s not even trying to unify is so stupid .
It ’ s just stupid .
It ’ s ignorant .
These people don ’ t even see the crisis that they face along with us !
They don ’ t even see it .
They don ’ t even see that there is a movement… He talks @ @ @ @ @ @ @ These people want to !
These people are not gon na stop until they do .
America is “ irredeemably , ” meaning uncorrectably .
We can not fix it .
Even reparations would not fix it .
“ Decades of indoctrination in the public schools and even colleges , ” ’ cause that ’ s where your young daughters are coming home with all these newfangled ideas and say changing your mind , Dad .
“ Decades of indoctrination in the public schools and the colleges has led to this moment.
” @ @ @ @ @ @ @ ve talked to , they could see this moment coming .
They could see this happening .
They just didn ’ t say anything .
They were hoping something would stop it .
They were hoping some election would stop it .
They were hoping that this would end up short of the mark .
But there are so many people who have seen this full-fledged effort to transform America .
They were silent .
They thought they had no voice .
They thought if they spoke up they would be all alone @ @ @ @ @ @ @ So about the only thing they could do was homeschool , pull their kids out of public school and just homeschool ’ em .
That ’ s about it .
They didn ’ t feel comfortable speaking up or opposing it .
Now , if you ’ re not sufficiently woke , you can lose your job , you can lose anything else that the woke crowd wants to take away from you .
And Mr. Davidson at The Federalist writes that : “ The model at work here is the Chinese Cultural @ @ @ @ @ @ @ sessions ’ in which anyone deemed insufficiently sympathetic to the proletariat - ” you know what the proletariat is ?
Got ta use these Marxist terms .
The proletariat ’ s the working class , the exploited ones , the ones taken advantage of .
And it ’ s all made up .
Struggle sessions ’ in which anyone deemed insufficiently sympathetic to the proletariat - ” if you don ’ t care about the working class , “ Or thought to have an excessively bourgeois lifestyle , ” that ’ s middle @ @ @ @ @ @ @ were “ subjected to public humiliations , paraded through the streets , assaulted , denounced , and put on display as objects of scorn .
Often these struggle sessions ended in false confessions , ” that they were guilty of whatever the Chinese Communist Party was accusing them of being .
They would confess to it .
They would plead .
They would beg for mercy .
It ’ s happening now .
I just shared with you the story .
There ’ s this YouTube streamer streaming video forcing white girls to @ @ @ @ @ @ @ RUSH : I have a question , ladies and gentlemen .
Do you think that the ChiComs have noticed all of the kneeling out there to appease the rioters and the looters ?
Do you think the ChiComs have noticed this ?
( interruption ) Okay , I agree with you .
I think they have too , and I ’ m gon na guess that the ChiComs are not interpreting Americans kneeling to appease the rioters as evidence of great strength and resolve .
I don ’ t think the ChiComs see @ @ @ @ @ @ @ are looking at this , and they ’ re probably scratching their heads saying , “ What the hell ?
We ’ ve been more successful than we knew !
” Now we ’ ve got… ( chuckles ) Now we ’ ve a serious movement in Los Angeles and other places to defund police departments .
Think the ChiComs have noticed that ?
I ’ m gon na tell you what .
If you can defund the police department , it ain ’ t gon na be long and it ain ’ @ @ @ @ @ @ @ start getting serious again about defunding the military — and then what ’ s James Mattis gon na say ?
I mean , the left has wanted to defund the military for as long as I ’ ve been alive .
CALLER : Hi , Rush .
Mega dittos .
God bless you and thoughts and prayers for you .
CALLER : I wanted to go ahead and bring up a point quickly .
I think that I would be voicing the majority of conservative opinion when I say that I believe that @ @ @ @ @ @ @ — not rallies , I ’ m sorry , protests .
Be it if they kind of disintegrate into riots — RUSH : They are rallies .
In fact , that ’ s a good way to look at ’ em .
They ’ re Democrat versions of rallies .
They can ’ t do what Trump does .
It ’ s as close as they can get .
CALLER : That ’ s true .
But whether they remain peaceful or they disintegrate into riots , I believe that the majority of @ @ @ @ @ @ @ good faith wanting to go ahead and advance , you know , what they see as a problem .
However , I believe that the rioting factions are mostly constituted of , you know , Millennial , middle to upper class white , not all white , but majority of white — RUSH : You think a majority of the violence makers , a majority of the looters and all this are actually white , wealthy , middle class Millennials ?
CALLER : I think so .
I ran across an article today @ @ @ @ @ @ @ publication here in Durham called Indy Week .
And it said that over the weekend most of the protests in Durham , North Carolina , which has a higher constitution of African-Americans by population versus Raleigh , North Carolina , which is kind of — RUSH : Well , I ’ ve run out of time .
I misjudged .
I thought I had a minute more than I ’ ve got , but you ’ re making an assessment based on what you read there in North Carolina .
A lot of @ @ @ @ @ @ @ theory to me , that most of the real trouble making is being done by wealthy , white Millennials .

via rushlimbaugh
RUSH: I’ve got a piece I just want to give you a heads-up on at The Federalist. It’s by John Daniel Davidson. “The Struggle Sessions Are Here, And They’re Not Going Away.”
And the best way to understand what’s happening in America today is to go out and learn about the Chinese Cultural Revolution. That is what is underway. That’s what the American left’s model for all of this that’s going today and the attempt to re-indoctrinate the way everybody thinks, to get everybody going and apologizing for being whatever they are and for kneeling down, the Chinese Cultural Revolution. I’ll give you a little head start on that with the aid of this piece as the program unfolds.
BREAK TRANSCRIPT
RUSH: I mentioned earlier that I want to share with you elements of a column today that runs at The Federalist: “The Struggle Sessions Are Here, and They Are Not Going Away.” It’s by John Daniel Davidson.
The subheadline is: “The left’s multi-decade project to teach everyone that America is irredeemably racist has led to the emergence of a new regime in American life,” and, by the way, it is. He’s right. It’s a “multi-decade project.” This is an ongoing effort to teach everybody that America is… When he says “irredeemably,” that is exactly right.
We cannot fix America. We cannot overcome the original sins — and, by the way, they are not just slavery. Practically everything the white Founding Fathers implemented in the founding of this country is unjust and immoral precisely because they were white Founding Fathers. But the key point is that as far as… That’s why Mattis going out here talking about Trump’s not even trying to unify is so stupid.
It’s just stupid. It’s ignorant. These people don’t even see the crisis that they face along with us! They don’t even see it. They don’t even see that there is a movement… He talks about Trump tearing up the Constitution? These people want to! These people are not gonna stop until they do. America is “irredeemably,” meaning uncorrectably. We cannot fix it.
Even reparations would not fix it. “Decades of indoctrination in the public schools and even colleges,” ’cause that’s where your young daughters are coming home with all these newfangled ideas and say changing your mind, Dad. “Decades of indoctrination in the public schools and the colleges has led to this moment.”
Many parents, many parents I’ve talked to, they could see this moment coming. They could see this happening. They just didn’t say anything. They were hoping something would stop it. They were hoping some election would stop it. They were hoping that this would end up short of the mark. But there are so many people who have seen this full-fledged effort to transform America. They were silent. They thought they had no voice. They thought if they spoke up they would be all alone, they would somehow be harmed.
So about the only thing they could do was homeschool, pull their kids out of public school and just homeschool ’em. That’s about it. They didn’t feel comfortable speaking up or opposing it. Now, if you’re not sufficiently woke, you can lose your job, you can lose anything else that the woke crowd wants to take away from you.
And Mr. Davidson at The Federalist writes that: “The model at work here is the Chinese Cultural Revolution, with its mass ‘struggle sessions’ in which anyone deemed insufficiently sympathetic to the proletariat -” you know what the proletariat is? Gotta use these Marxist terms. The proletariat’s the working class, the exploited ones, the ones taken advantage of. And it’s all made up. Struggle sessions’ in which anyone deemed insufficiently sympathetic to the proletariat -” if you don’t care about the working class, “Or thought to have an excessively bourgeois lifestyle,” that’s middle class and upper class, then you were “subjected to public humiliations, paraded through the streets, assaulted, denounced, and put on display as objects of scorn. Often these struggle sessions ended in false confessions,” that they were guilty of whatever the Chinese Communist Party was accusing them of being.
They would confess to it. They would plead. They would beg for mercy. It’s happening now. I just shared with you the story. There’s this YouTube streamer streaming video forcing white girls to their knees because of white privilege.
BREAK TRANSCRIPT
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RUSH: I have a question, ladies and gentlemen. Do you think that the ChiComs have noticed all of the kneeling out there to appease the rioters and the looters? Do you think the ChiComs have noticed this? (interruption) Okay, I agree with you. I think they have too, and I’m gonna guess that the ChiComs are not interpreting Americans kneeling to appease the rioters as evidence of great strength and resolve.
I don’t think the ChiComs see it that way. The ChiComs who are looking at this, and they’re probably scratching their heads saying, “What the hell? We’ve been more successful than we knew!” Now we’ve got… (chuckles) Now we’ve a serious movement in Los Angeles and other places to defund police departments. Think the ChiComs have noticed that?
I’m gonna tell you what. If you can defund the police department, it ain’t gonna be long and it ain’t a big stretch ’til you start getting serious again about defunding the military — and then what’s James Mattis gonna say? I mean, the left has wanted to defund the military for as long as I’ve been alive.
BREAK TRANSCRIPT
RUSH: Here’s Dave in Chapel Hill, North Carolina. Welcome, sir.
CALLER: Hi, Rush. Mega dittos. God bless you and thoughts and prayers for you.
RUSH: Thank you, sir.
CALLER: I wanted to go ahead and bring up a point quickly. I think that I would be voicing the majority of conservative opinion when I say that I believe that the majority of African-Americans attending these rallies — not rallies, I’m sorry, protests. Be it if they kind of disintegrate into riots —
RUSH: They are rallies. In fact, that’s a good way to look at ’em. They’re Democrat versions of rallies. They can’t do what Trump does. It’s as close as they can get.
CALLER: That’s true. But whether they remain peaceful or they disintegrate into riots, I believe that the majority of African-Americans are there in some semblance of good faith wanting to go ahead and advance, you know, what they see as a problem. However, I believe that the rioting factions are mostly constituted of, you know, Millennial, middle to upper class white, not all white, but majority of white —
RUSH: You think a majority of the violence makers, a majority of the looters and all this are actually white, wealthy, middle class Millennials?
CALLER: I think so. I ran across an article today that was written yesterday in a local publication here in Durham called Indy Week. And it said that over the weekend most of the protests in Durham, North Carolina, which has a higher constitution of African-Americans by population versus Raleigh, North Carolina, which is kind of —
RUSH: Well, I’ve run out of time. I misjudged. I thought I had a minute more than I’ve got, but you’re making an assessment based on what you read there in North Carolina. A lot of people, surprisingly, have advanced this theory to me, that most of the real trouble making is being done by wealthy, white Millennials.