investmentwatchblog--2020-07-31--Following suspension of Russian ‘Fox News’ imitator, Kremlin warns internet users not to trust YouTu

Following suspension of Russian ‘Fox News’ imitator, Kremlin warns internet users not to trust YouTube or other Western platforms

During war all truth and information becomes corrupted… After a Russian TV channel loosely inspired by America ’ s Fox @ @ @ @ @ service YouTube earlier this week , Vladimir Putin ’ s spokesman says Western web giants @ @ @ @ @ “ low degree of trust.
” Dmitry Peskov emphasized that the companies are completely unaccountable @ @ @ @ @ please .
He said the public needs to be aware that they can be “ @ @ @ @ @ with their account ” at any moment .
Tsargrad TV – launched with the help @ @ @ @ @ in 2015 – announced that the Google subsidiary had blocked its account on July 28 @ @ @ @ @ of the law on sanctions and trade rules .

During war all truth and information becomes corrupted…
After a Russian TV channel loosely inspired by America’s Fox News was blocked by video-streaming service YouTube earlier this week, Vladimir Putin’s spokesman says Western web giants should be treated with a “low degree of trust.”
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Dmitry Peskov emphasized that the companies are completely unaccountable and can do as they please. He said the public needs to be aware that they can be “thrown out of there along with their account” at any moment.
Tsargrad TV – launched with the help of ex-Fox producer Jack Hanick in 2015 – announced that the Google subsidiary had blocked its account on July 28, over an apparent violation of the law on sanctions and trade rules.
www.rt.com/russia/496699-tsargradtv-youtube-blocked-peskov/


investmentwatchblog--2020-07-31--Dollar crash will topple the entire US ‘house of cards’ economy by year end – Peter Schiff

No one seems to be worried about the falling dollar , veteran stockbroker Peter Schiff writes on Twitter , as the US currency continues to slide versus major rivals amid gold and silver record growth .
According to Schiff the ignorance is “ likely to remain the case until the fall becomes a crash , which I don ’ t think will begin until the Dollar Index breaks 80 .
At its current rate of decline that level could be breached before year end , perhaps by election day.
” The decline of the US dollar accelerated in recent weeks @ @ @ @ @ @ @ the United States and indications of a pickup in global economic activity .
The ICE US Dollar Index , which tracks the greenback against a basket of six major rivals , fell 0.4 percent on Friday to 92.635 and traded at its lowest since July 2018 .
Meanwhile , gold continued its rally to hit fresh all-time highs .
“ Coronavirus just accelerated the process of the dollar ’ s fall and there ’ s nothing that the Federal Reserve could do right now to preserve the dollar from falling , ” Schiff @ @ @ @ @ @ @ that the negative interest rates are actually far more negative because the US government is using the CPI ( Consumer Price Index ) “ which barely scratches the surface on how high inflation is .
”

No one seems to be worried about the falling dollar, veteran stockbroker Peter Schiff writes on Twitter, as the US currency continues to slide versus major rivals amid gold and silver record growth.
According to Schiff the ignorance is “likely to remain the case until the fall becomes a crash, which I don’t think will begin until the Dollar Index breaks 80. At its current rate of decline that level could be breached before year end, perhaps by election day.”
No one seems worried about the falling dollar. That's likely to remain the case until the fall becomes a crash, which I don't think will begin until the Dollar Index breaks 80. At its current rate of decline that level could be breached before year end, perhaps by election day. — Peter Schiff (@PeterSchiff) July 31, 2020
The decline of the US dollar accelerated in recent weeks on a rise in coronavirus cases in the United States and indications of a pickup in global economic activity. The ICE US Dollar Index, which tracks the greenback against a basket of six major rivals, fell 0.4 percent on Friday to 92.635 and traded at its lowest since July 2018. Meanwhile, gold continued its rally to hit fresh all-time highs.
“Coronavirus just accelerated the process of the dollar’s fall and there’s nothing that the Federal Reserve could do right now to preserve the dollar from falling,” Schiff said on his podcast.
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He explained that the negative interest rates are actually far more negative because the US government is using the CPI (Consumer Price Index) “which barely scratches the surface on how high inflation is.”


investmentwatchblog--2020-07-31--Tennessee Democrat state senator charged with stealing federal funds – Over $600,000

MEMPHIS , Tenn. ( AP ) — A Tennessee state senator has been charged with stealing more than $ 600,000 @ @ @ @ @ a health care company she directed and using the money to pay for her wedding @ @ @ @ @ federal prosecutors said Wednesday .

Tennessee Democrat state senator charged with stealing federal funds – Over $600,000.00
MEMPHIS, Tenn. (AP) — A Tennessee state senator has been
charged with stealing more than $600,000 in federal funds
received by a health care company she directed and using the
money to pay for her wedding and other personal expenses,
federal prosecutors said Wednesday.
www.yahoo.com/news/tennessee-state-senator-charged-stealing-210142662.html


investmentwatchblog--2020-07-31--Bubble Watch: The Fed Is About to Give Wall Street Another $2.1 Trillion to Play With. Jerome Powell

Bubble Watch: The Fed Is About to Give Wall Street Another $2.1 Trillion to Play With. Jerome Powells Wants Another Bubble…And He’s Willing to Do Whatever It Takes

1 ) The Fed will hold rates near zero for the foreseeable future 2 ) The Fed is extending its dollar repo and swap line to March 31 3 ) The Fed will continue to use its “ full range ” of tools to support the economy .
4 ) The Fed will continue to perform its QE programs at the “ current pace ” or $ 125 billion per month ( $ 1.5 trillion per year ) .
5 ) The economy , household spending , labor market , and business fixed investment are in various stages of recovery @ @ @ @ @ @ @ , the Fed ’ s largest balance sheet expansion was $ 3 trillion over the course of eight years .
The Fed has spent more than this in just three months .
Prior to its COVID-19 policy response , the Fed ’ s largest QE operation $ 80 billion per month .
At its peak in March 2020 the Fed was spending $ 125 billion per day .
It has now reduced this to $ 125 billion per month .
And it intends to keep it there until there is a full recovery @ @ @ @ @ @ @ be sometime in late 2021 ) .
So… the Fed just told the market that it intends to provide , at a minimum , $ 2.1 trillion in additional liquidity to the financial system over the next 18 months .
In simple terms , the Fed will continue to backstop the financial system in ways that far exceed its policy response to the Great Financial Crisis of 2008 .
And the Fed will do this until the US has experienced a full recovery ( Fed speak for “ forever ” ) .
This @ @ @ @ @ @ @ , no matter how horrible the economic data gets .
This was an EXTREMELY dovish Fed FOMC announcement .
It calls to mind European Central Bank ( ECB ) Mario Draghi ’ s famous claim that the ECB would do “ whatever it takes ” back in 2012 .
Indeed , the only thing hawkish you can point to from the entire Fed announcement is Fed Chair Powell ’ s claim that the Fed hasn ’ t discussed “ equity buying ” ( buying stocks outright ) .
However , even this is @ @ @ @ @ @ @ signed with financial firm BlackRock to perform the Fed ’ s current QE programs ( by law the Fed isn ’ t permitted to buy municipal bonds , corporate bonds , or any of the other items it is buying via its QE programs ) , explicitly states that the Fed is giving BlackRock authority to buy stocks .
See for yourself .
Subject to this Agreement , including the Investment Guidelines ( as defined in Section 5.1 ) , the Manager is hereby appointed as the FRBNY ’ s agent in fact @ @ @ @ @ @ @ and authority to act on behalf of the Account with respect to the purchase , sale , exchange , conversion , or other transactions in any and all stocks , bonds , other securities , or cash held for investment subject to the Agreement .
Let me ask you… Why would the Fed authorize BlackRock to buy stocks if it wasn ’ t planning on eventually doing this ?
The Fed could have easily said it was authorizing BlackRock to ONLY buy ETFs , bonds and the other investments that it is currently @ @ @ @ @ @ @ set up with the U.S. Treasury in late March .
So why include stocks… an asset class the Fed has yet to approve for ANY purchases WHAT-SO-EVER ?
!
Because the Fed will be buying stocks at some point , most likely whenever the markets begin to break down again .
Bottomline : the Fed is backstopping EVERYTHING and will do so at a pace of $ 125 billion per month from now on .
And if things worsen , the Fed will increase its purchases and eventually start buying stocks outright .
@ @ @ @ @ @ @ 1 trading strategy going forward is to front-run the Fed .
On that note , we ’ re putting together an Executive Summary on how to play this move .
It will identify which investments will perform best during the Fed ’ s next bubble , including a unique play that could more than double the performance of the S & P 500 .
This Executive Summary will be available exclusively to subscribers of our Gains Pains & Capital e-letter .
To insure you receive a copy when it ’ s sent out @ @ @ @ @ @

The stock market roared higher when Fed Chair Jerome Powell announced…
1) The Fed will hold rates near zero for the foreseeable future
2) The Fed is extending its dollar repo and swap line to March 31
3) The Fed will continue to use its “full range” of tools to support the economy.
4) The Fed will continue to perform its QE programs at the “current pace” or $125 billion per month ($1.5 trillion per year).
5) The economy, household spending, labor market, and business fixed investment are in various stages of recovery.
Let’s provide some perspective here.
Prior to its COVID-19 policy response, the Fed’s largest balance sheet expansion was $3 trillion over the course of eight years.
The Fed has spent more than this in just three months.
Prior to its COVID-19 policy response, the Fed’s largest QE operation $80 billion per month. At its peak in March 2020 the Fed was spending $125 billion per day. It has now reduced this to $125 billion per month. And it intends to keep it there until there is a full recovery (which the Fed currently believes will be sometime in late 2021).
So… the Fed just told the market that it intends to provide, at a minimum, $2.1 trillion in additional liquidity to the financial system over the next 18 months.
In simple terms, the Fed will continue to backstop the financial system in ways that far exceed its policy response to the Great Financial Crisis of 2008. And the Fed will do this until the US has experienced a full recovery (Fed speak for “forever”).
This is why the markets refuse to fall, no matter how horrible the economic data gets.
This was an EXTREMELY dovish Fed FOMC announcement. It calls to mind European Central Bank (ECB) Mario Draghi’s famous claim that the ECB would do “whatever it takes” back in 2012.
Indeed, the only thing hawkish you can point to from the entire Fed announcement is Fed Chair Powell’s claim that the Fed hasn’t discussed “equity buying” (buying stocks outright).
However, even this is a bluff.
The contract the Fed signed with financial firm BlackRock to perform the Fed’s current QE programs (by law the Fed isn’t permitted to buy municipal bonds, corporate bonds, or any of the other items it is buying via its QE programs), explicitly states that the Fed is giving BlackRock authority to buy stocks.
We are primarily funded by readers. Please subscribe and donate to support us!
See for yourself.
Subject to this Agreement, including the Investment Guidelines (as defined in Section 5.1), the Manager is hereby appointed as the FRBNY’s agent in fact, and it shall have full power and authority to act on behalf of the Account with respect to the purchase, sale, exchange, conversion, or other transactions in any and all stocks, bonds, other securities, or cash held for investment subject to the Agreement. Source: New York Fed
Let me ask you…
Why would the Fed authorize BlackRock to buy stocks if it wasn’t planning on eventually doing this?
The Fed could have easily said it was authorizing BlackRock to ONLY buy ETFs, bonds and the other investments that it is currently purchasing via the nine credit facilities it set up with the U.S. Treasury in late March.
So why include stocks… an asset class the Fed has yet to approve for ANY purchases WHAT-SO-EVER?!
Because the Fed will be buying stocks at some point, most likely whenever the markets begin to break down again.
Bottomline: the Fed is backstopping EVERYTHING and will do so at a pace of $125 billion per month from now on. And if things worsen, the Fed will increase its purchases and eventually start buying stocks outright.
With that in mind, the #1 trading strategy going forward is to front-run the Fed.
On that note, we’re putting together an Executive Summary on how to play this move.
It will identify which investments will perform best during the Fed’s next bubble, including a unique play that could more than double the performance of the S&P 500.
This Executive Summary will be available exclusively to subscribers of our Gains Pains & Capital e-letter. To insure you receive a copy when it’s sent out, you can join here:
phoenixcapitalmarketing.com/TEB.html
Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research


investmentwatchblog--2020-07-31--FLYNN CASE TO BE HEARD BEFORE AN EN BANC COURT ON AUGUST 11TH

The Order compelling Judge Sullivan to dismiss the case is vacated .
The case will be reheard by the court @ @ @ @ @ issue of note : whether there are `` no other adequate means to attain the @ @ @ @ @

Flynn update:
The Order compelling Judge Sullivan to dismiss the case is vacated.
The case will be reheard by the court sitting en banc.
Oral argument is set for August 11.
One issue of note: whether there are "no other adequate means to attain the relief" desired. pic.twitter.com/rhdp3CePud
— Techno Fog (@Techno_Fog) July 30, 2020


investmentwatchblog--2020-07-31--China And The Democrats Are Colluding Together

Tucker Carlson : Obama Pouring Gasoline While Country Falling Apart From Racial Strife .
“ The country falling apart riven @ @ @ @ @ and one of the most respected people in the whole country decides to pour gasoline @ @ @ @ @ police to Bull Connor ?
As if America or Minneapolis is like Birmingham , Alabama @ @ @ @ @ s insane .
It ’ s reckless.
” Mean , sanctimonious , and divisive is @ @ @ @ @ life , but it ’ s the way Obama has chosen .
If he ’ @ @ @ @ @ the 2004 DNC speech the country would be much better off .
But he never @ @ @ @ @ speech was simply a lie .
And for the record , Bull Connor was a @ @ @ @ @ Committee .

.@GOPLeader Doesn’t know what China has on the Democrats but it’s very effective. pic.twitter.com/whe77zBeoU — The Dirty Truth (@RealDirty on Parler) (@AKA_RealDirty) July 30, 2020
Related:
Tucker Carlson: Obama Pouring Gasoline While Country Falling Apart From Racial Strife. “The country falling apart riven by racial strife and tribalism and one of the most respected people in the whole country decides to pour gasoline on that and compare the police to Bull Connor? As if America or Minneapolis is like Birmingham, Alabama in 1963? It’s insane. It’s reckless.”
Mean, sanctimonious, and divisive is no way to go through life, but it’s the way Obama has chosen. If he’d been the Obama of the 2004 DNC speech the country would be much better off. But he never was that Obama; the speech was simply a lie.
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And for the record, Bull Connor was a member of the Democratic National Committee.
h/t GR


investmentwatchblog--2020-07-31--Health of Ruth Bader Ginsburg fuels anxiety, preparations

Ginsburg ’ s liver cancer — and recent repeat trips to the hospital due to bile duct infection — has @ @ @ @ @ on tenterhooks , with her every medical procedure causing major hand-wringing , not to mention @ @ @ @ @ .
Ginsburg was hospitalized yet again on Wednesday to “ revise a bile duct stent @ @ @ @ @ assured the public that such things were “ common occurrences.
” Should the 87-year-old , @ @ @ @ @ , leave the bench , US President Donald Trump would move quickly to name a @ @ @ @ @ Senate likely to confirm the nomination in equally record speed as the November 3 election @ @ @ @ @ cement a conservative majority on the court , which has final say on a number @ @ @ @ @ America — from abortion to fire arms , civil rights to the death penalty .

Ginsburg’s liver cancer — and recent repeat trips to the hospital due to bile duct infection — has Washington’s political class on tenterhooks, with her every medical procedure causing major hand-wringing, not to mention a variety of contingency plans.
Ginsburg was hospitalized yet again on Wednesday to “revise a bile duct stent,” as her doctors assured the public that such things were “common occurrences.”
Should the 87-year-old, who is currently undergoing chemotherapy, leave the bench, US President Donald Trump would move quickly to name a successor, with the Republican-led Senate likely to confirm the nomination in equally record speed as the November 3 election draws near.
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This would cement a conservative majority on the court, which has final say on a number of the touchiest subjects dividing America — from abortion to fire arms, civil rights to the death penalty.
www.timesofisrael.com/health-of-ruth-bader-ginsburg-fuels-anxiety-preparations/?utm_source=dlvr.it&utm_medium=twitter


investmentwatchblog--2020-07-31--Children’s answers to the question “What is politics?”

How do we become so dumb over time collectively ?

Children's answers to the question "What is politics?" pic.twitter.com/3rgtj8FfRD — Steve Stewart-Williams (@SteveStuWill) July 30, 2020
How do we become so dumb over time collectively?
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h/t Builder


investmentwatchblog--2020-07-31--Tucker Carlson wipes the floor with Barack Obama: One of the most DISHONEST figures in our history

Obama Tells Packed Crowds At Lewis ’ Funeral That Mail-In Ballots Needed ‘ So People Don ’ t Get Sick.
@ @ @ @ @ ON OBAMA TO BE MEAN , SANCTIMONIOUS , AND DIVISIVE .
His 2004 DNC speech @ @ @ @ @ was a lie from the get-go .

Related:
Obama Tells Packed Crowds At Lewis’ Funeral That Mail-In Ballots Needed ‘So People Don’t Get Sick.’
We are primarily funded by readers. Please subscribe and donate to support us!
YOU CAN ALWAYS COUNT ON OBAMA TO BE MEAN, SANCTIMONIOUS, AND DIVISIVE. His 2004 DNC speech promised different, but it was a lie from the get-go.
Sad lies on an occasion that deserves better. Really disappointed. t.co/30q1ZWTIGC — James Jay Carafano (@JJCarafano) July 30, 2020
h/t GR


investmentwatchblog--2020-07-31--Dear World, here are what happened in the past 72 hours in HongKong

Hong Kong citizens here on one hand struggling to stay employed and healthy , we on the other hand struggling to get our voice out .
Hear me out , this is not exactly a post to ask for help .
We are here to warn the rest of the world for the totalitarianism we once tried so hard to keep at bay yet defeated .
National Security is forcefully enacted by CCP , in the past 72 hours : Professor Benny Tai , pro-democracy activist and former lecturer of University of Hong Kong , was fired on by the @ @ @ @ @ @ @ , educators in HK can no longer make controversial statements without consequences .
That is the end of academic freedom in this city .
( Local Source ) 5 students activists were arrested at home under National Security Law for “ incitement secession ” .
They started an IG account to initiate a group fighting for independence .
Early in June when National Security Law they resigned and liquified their students activism group to avoid being arrested .
Early in July they started in Instagram acct , yes an instagram acct because they @ @ @ @ @ @ @ from that acct yet .
But they are arrested because of that .
That is the end of freedom of speech and thought in this city .
( Local Source ) 12 pan-democratic legco candidates disqualified and were announced their nominations invalid , an action to prevent citizens to vote for democratic candidates , by avoiding them to enter the race .
That is the sign that we can no longer fight within the system .
( Local Source ) We love this city very much .
Seeing this city slowly destroyed and @ @ @ @ @ @ @ s infuriates us .
Yet once again this is not an SOS post .
We are way past that .
Those truly love this place will stay .
( But wouldnt mind if your countries can help and sanction those pro-CCP and the police force here you know ? )
But the claws of CCP crept though and will be there for your country soon .
I can ’ t tell you to not vote for Biden ( he is pro-ccp ) but I understand Trump is… Trump .
And I won ’ @ @ @ @ @ @ @ China because I understand in times like this many people are unemployed and cheap products are first choices in many cases .
But at least , be aware of the immigrants and students from CCP ok ?
Keep them away .
Don ’ t fall for the money trap we fell for 20 years ago .
You can do it you know ?
What are some issues going in your country ?
Any South Koreans here can tell me about how your real estate market is made impossible by Chinese buyers ?
Any @ @ @ @ @ @ @ new constitution ?
What ’ s happening in your country ?
Shall we talk ?
A Hongkonger upsetted by News but want to hear your countries ’ problems , with VPN of course ( not sponsored ) Disclaimer : This is a guest post and it doesn ’ t necessarily represent the views of IWB .

by singular_craft
Dear World,
Hong Kong citizens here on one hand struggling to stay employed and healthy, we on the other hand struggling to get our voice out. Hear me out, this is not exactly a post to ask for help. We are here to warn the rest of the world for the totalitarianism we once tried so hard to keep at bay yet defeated.
National Security is forcefully enacted by CCP, in the past 72 hours:
Professor Benny Tai, pro-democracy activist and former lecturer of University of Hong Kong, was fired on by the school board. According to Professor Tai, educators in HK can no longer make controversial statements without consequences. That is the end of academic freedom in this city. (Local Source)
5 students activists were arrested at home under National Security Law for “incitement secession”. They started an IG account to initiate a group fighting for independence. Early in June when National Security Law they resigned and liquified their students activism group to avoid being arrested. Early in July they started in Instagram acct, yes an instagram acct because they havent started worked on anything else apart from that acct yet. But they are arrested because of that. That is the end of freedom of speech and thought in this city. (Local Source)
12 pan-democratic legco candidates disqualified and were announced their nominations invalid, an action to prevent citizens to vote for democratic candidates, by avoiding them to enter the race. That is the sign that we can no longer fight within the system. (Local Source)
We love this city very much. Seeing this city slowly destroyed and cooked in the hands of CCP’s infuriates us. Yet once again this is not an SOS post. We are way past that. Those truly love this place will stay. (But wouldnt mind if your countries can help and sanction those pro-CCP and the police force here you know?)
We are primarily funded by readers. Please subscribe and donate to support us!
But the claws of CCP crept though and will be there for your country soon. I can’t tell you to not vote for Biden (he is pro-ccp) but I understand Trump is… Trump. And I won’t tell you to boycott products from China because I understand in times like this many people are unemployed and cheap products are first choices in many cases. But at least, be aware of the immigrants and students from CCP ok? Keep them away. Don’t fall for the money trap we fell for 20 years ago. You can do it you know?

What are some issues going in your country? Any South Koreans here can tell me about how your real estate market is made impossible by Chinese buyers? Any Thai here could tell about this brutal new constitution? What’s happening in your country? Shall we talk?

Best wishes,
A Hongkonger upsetted by News but want to hear your countries’ problems, with VPN of course (not sponsored)
Disclaimer: This is a guest post and it doesn’t necessarily represent the views of IWB.


investmentwatchblog--2020-07-31--This is Great – MSM Won’t Report What Pelosi Just Said on Chamber Floor

Hahaha .
She sounds like she is slurring her speech because she is drunk .
And being a complete hypocrite @ @ @ @ @ , whatever , are falling apart at the seams .

Hahaha. She sounds like she is slurring her speech because she is drunk. And being a complete hypocrite of course.
These people/clones, whatever, are falling apart at the seams.
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AC


investmentwatchblog--2020-07-31--Bread and Circuses: Don’t you think it’s a little bit odd…

…that they are cancelling all sports during a time of civil unrest ?
Spectator sports have long been known to @ @ @ @ @ societal , and mainly male aggression… not to mention the value as a distraction .
@ @ @ @ @ of players testing positive , I think that they will shut it all down very @ @ @ @ @ it in the messaging .
Even if they don ’ t , there won ’ @ @ @ @ @ , just crowd-simulations… like this : Also , the BLM Marxist propaganda will be emblazoned @ @ @ @ @ .
I never gave a shit about sports , and I still don ’ t… @ @ @ @ @ obvious what they are doing here .

by BFD
…that they are cancelling all sports during a time of civil unrest?
Spectator sports have long been known to be a blow-off valve for societal, and mainly male aggression… not to mention the value as a distraction.
With all of the reports of players testing positive, I think that they will shut it all down very soon.
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You can see it in the messaging.
Even if they don’t, there won’t be any real spectators, just crowd-simulations… like this:
No fans? Not on FOX Sports. Thousands of virtual fans will attend FOX’s MLB games this Saturday. pic.twitter.com/z9oQU0rYuC — FOX Sports (@FOXSports) July 23, 2020
Also, the BLM Marxist propaganda will be emblazoned on jerseys/uniforms/playing fields/courts?etc.
I never gave a shit about sports, and I still don’t… but it’s pretty obvious what they are doing here.


investmentwatchblog--2020-07-31--BLM / ANTIFA visits Springfield Oregon

BLM / ANTIFA visits Springfield Oregon

ANTIFA crying that someone is blocking the road/street few moments before it went haywire

this guy
ANTIFA crying that someone is blocking the road/street
oh the irony
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few moments before it went haywire
h/t Dogfood


investmentwatchblog--2020-07-31--Perhaps, the poll believers should take a look at this! Look at the number of likes Biden vs. Trump

Perhaps, the poll believers should take a look at this! Look at the number of likes Biden vs. Trump on Twitter and FB

Now we know these platforms are biased in favor of democrats So how could this be ?
Biden supporters are @ @ @ @ @ confuse & lure conservatives into thinking Trump already won ?
Or maybe all the polls @ @ @ @

@dbongino Perhaps, the poll believers should take a look at this!! Look at the number of likes Biden vs. Trump on Twitter and FB!! 😂😂😂😂😂 pic.twitter.com/81VZUuQWlD — snicksy25 (@snicksy25) July 30, 2020
Biden:2,213,243 likes = 7%
Trump:28,552,701 likes = 93%
Now we know these platforms are biased in favor of democrats
So how could this be?
Trump supporters more internet savvy then Biden supporters?
We are primarily funded by readers. Please subscribe and donate to support us!
Biden supporters are pretending to like Trump to confuse & lure conservatives into thinking Trump already won?
Or maybe all the polls have been lying?
h/t JADR


investmentwatchblog--2020-07-31--Does Joe Biden […] ? Google vs Bing vs Yahoo vs DuckDuckGo

It ’ s almost as if there is a rule in the search engine not to pull results for Joe @ @ @ @ @ .

by Evan9000
We are primarily funded by readers. Please subscribe and donate to support us!
It’s almost as if there is a rule in the search engine not to pull results for Joe Biden and anything dementia related.


investmentwatchblog--2020-07-31--STATES/CITIES WITH ACTIVE RECALLS: A growing list of states and cities are currently attempting to i

STATES/CITIES WITH ACTIVE RECALLS: A growing list of states and cities are currently attempting to impeach or recall governors, mayors and other officials who have abused their power – Full list

These are real recall petitions going through the proper channels to recall the governors in these states .
Don ’ t confuse these with online petitions you may have signed which will not lead to an actual recall .
Please sign the petitions ( if you live in the relevant state ) , volunteer , donate , and most of all , * SPREAD THE WORD * .
States where impeachment of governor is currently in progress : PENNSYLVANIA : HR915 was introduced on June 15th in the PA General Assembly for the impeachment of Governor Wolf , with 24 @ @ @ @ @ @ @ contact your state representative and senator to let them know you fully support this impeachment , and get your family and friends to do the same .
You can find and contact your state representatives using this website .
States with approved recall petitions and CURRENTLY COLLECTING SIGNATURES : OREGON : Oregon Recall Web Page – Oregon Facebook Page – Approved as of June 3rd .
Note : There may be multiple , active recall petitions in Oregon .
States with approved recall petitions but not yet collecting signatures : MICHIGAN : Michigan @ @ @ @ @ @ @ – Signature collection begins July 29th , then there is a 60 day window to collect signatures , so if you ’ re going to volunteer to help…get in there now .
*** Looks like the Michigan web page has been down for a few days .
If anyone knows what ’ s going on there please post .
There is also another petition being circulated in MI to end the lockdowns .
Go sign it at unlockmichigan.com/ .
MINNESOTA : Minnesota Recall Web Page – Minnesota Facebook Page – Signature collection will @ @ @ @ @ @ @ in the state supreme court , currently underway .
States with recall petitions not yet approved : NEVADA : Nevada Recall Web Page – Nevada Facebook Page – This group previously attempted a recall but could not collect the necessary signatures due to the lockdowns .
They are currently working to get a new recall petition approved .
Currently looking for signature collectors sign up here .
COLORADO Colorado Recall Web Page – Colorado Facebook Page – From what I can tell , the recall petition has not yet been submitted to the @ @ @ @ @ @ @ support and volunteers in anticipation of getting one submitted and approved .
BOISIE , ID : Boisie Recall Web Page – A petition has been filed with the clerk , but not approved yet , to recall the mayor and one memeber of the city council .
MADISON , WI : Madison Recall Web Page – Petition approved to recall the mayor , currently collecting signatures .
NASHVILLE , TN : Nashville Recall Web Page – There are recall petitions in Nashville for the mayor and city council due to massive tax increases @ @ @ @ @ @ @ first attempt did not collect enough signatures , but they are going to try again .
All Nashville pedes , they need your support .
NORMAN , OK : Norman Recall Web Page – NormanRecall Facebook Page – Recall underway for Mayor and several city council members who voted to defund the police department .
SEATTLE , WA : Seattle Recall Web Page – A petition to recall the mayor of Seattle , Jenny Durkan was just approved by the court .
It looks like this recall is being organized by a left-wing @ @ @ @ @ @ @ of tear bas by the Seatle PD , but probably still worth supporting if thee is a chance of getting her removed because this woman is clearly a menace to the public .

by uvontheterrible
These are real recall petitions going through the proper channels to recall the governors in these states.
Don’t confuse these with online petitions you may have signed which will not lead to an actual recall.
Please sign the petitions (if you live in the relevant state), volunteer, donate, and most of all, * SPREAD THE WORD *.
.
States where impeachment of governor is currently in progress:
PENNSYLVANIA: HR915 was introduced on June 15th in the PA General Assembly for the impeachment of Governor Wolf, with 24 co-sponsors. Everyone in PA needs to contact your state representative and senator to let them know you fully support this impeachment, and get your family and friends to do the same. You can find and contact your state representatives using this website.
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States with approved recall petitions and CURRENTLY COLLECTING SIGNATURES:
CALIFORNIA: California Recall Web Page – California Facebook Page – 160 days to collect signatures, starting June 10th.
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IDAHO: Idaho Recall Web Page – Idaho Facebook Page
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OREGON: Oregon Recall Web Page – Oregon Facebook Page – Approved as of June 3rd. Note: There may be multiple, active recall petitions in Oregon.
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States with approved recall petitions but not yet collecting signatures:
MICHIGAN: Michigan Recall Web Page – Michigan Facebook Page – Signature collection begins July 29th, then there is a 60 day window to collect signatures, so if you’re going to volunteer to help…get in there now.
*** Looks like the Michigan web page has been down for a few days. If anyone knows what’s going on there please post.
There is also another petition being circulated in MI to end the lockdowns. Go sign it at unlockmichigan.com/.
We are primarily funded by readers. Please subscribe and donate to support us!
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MINNESOTA: Minnesota Recall Web Page – Minnesota Facebook Page – Signature collection will begin once the group completes a process in the state supreme court, currently underway.
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States with recall petitions not yet approved:
NEVADA: Nevada Recall Web Page – Nevada Facebook Page – This group previously attempted a recall but could not collect the necessary signatures due to the lockdowns. They are currently working to get a new recall petition approved. Currently looking for signature collectors sign up here.
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COLORADO Colorado Recall Web Page – Colorado Facebook Page – From what I can tell, the recall petition has not yet been submitted to the state, but this group is organizing support and volunteers in anticipation of getting one submitted and approved.
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Cities with recall petitions:
BOISIE, ID: Boisie Recall Web Page – A petition has been filed with the clerk, but not approved yet, to recall the mayor and one memeber of the city council.
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MADISON, WI: Madison Recall Web Page – Petition approved to recall the mayor, currently collecting signatures.
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NASHVILLE, TN: Nashville Recall Web Page – There are recall petitions in Nashville for the mayor and city council due to massive tax increases. UPDATE: It looks like the first attempt did not collect enough signatures, but they are going to try again. All Nashville pedes, they need your support.
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NORMAN, OK: Norman Recall Web Page – NormanRecall Facebook Page – Recall underway for Mayor and several city council members who voted to defund the police department.
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SEATTLE, WA: Seattle Recall Web Page – A petition to recall the mayor of Seattle, Jenny Durkan was just approved by the court. It looks like this recall is being organized by a left-wing group who is upset with the use of tear bas by the Seatle PD, but probably still worth supporting if thee is a chance of getting her removed because this woman is clearly a menace to the public.


investmentwatchblog--2020-07-31--St. Louis Circuit Attorney hasn’t disclosed trips as required by law, documents show

ST. LOUIS ( KMOV.com ) – A News 4 investigation has found that St. Louis Circuit Attorney Kim Gardner has been flying all around the country and the globe with organizations who want to reform the criminal justice system .
However , it appears she has violated the law , by not reporting the trips .
Sources tell News 4 Gardner is a frequent flyer .
At times during her tenure as prosecutor , sources say , she has often been gone from her office a couple of times every month , jetting around on someone else ’ s dime @ @ @ @ @ @ @ for pictures in Portugal , listening to conversations in New Haven , Connecticut , smiling with other prosecutors in Houston and linking arms in Selma , Alabama .
They are trips she apparently took in 2018 and 2019 , but did not disclose on travel reports , as required by law .
Sources tell News 4 that some of the trips were paid for in full , or in part , by an organization called Fair and Just Prosecution , a group that professes to support progressive prosecutors .
The organization has repeatedly @ @ @ @ @ @ @ , including the charges against Mark and Patricia McCloskey for brandishing guns in the Central West End last month .

ST. LOUIS (KMOV.com) – A News 4 investigation has found that St. Louis Circuit Attorney Kim Gardner has been flying all around the country and the globe with organizations who want to reform the criminal justice system.
However, it appears she has violated the law, by not reporting the trips.
Sources tell News 4 Gardner is a frequent flyer. At times during her tenure as prosecutor, sources say, she has often been gone from her office a couple of times every month, jetting around on someone else’s dime.
Social media snaps show Gardner posing for pictures in Portugal, listening to conversations in New Haven, Connecticut, smiling with other prosecutors in Houston and linking arms in Selma, Alabama.
They are trips she apparently took in 2018 and 2019, but did not disclose on travel reports, as required by law.
Sources tell News 4 that some of the trips were paid for in full, or in part, by an organization called Fair and Just Prosecution, a group that professes to support progressive prosecutors. The organization has repeatedly applauded many of Gardner’s actions, including the charges against Mark and Patricia McCloskey for brandishing guns in the Central West End last month.


investmentwatchblog--2020-08-02--Corn and Wheat Prices Headed Higher

Corn and Wheat Prices Headed Higher

Farmers in the U.S. were excited this week about the news of China agreeing to buy 1.9 million tons of corn .
That news has not yet given a lift to corn futures prices , but this week ’ s chart says that a major multi-month uptrend is coming .
The movements of gold prices tend to show up again about 15 months later in grain prices .
And it works not just for corn , but also for wheat prices .
The wise reader may wonder why this phenomenon works so well , but wondering about that can get @ @ @ @ @ @ @ accepting it .
Gold has been freely traded in the U.S. only since 1975 ( before 1971 , prices were fixed ) , and this phenomenon has been working for the most part for all 45 years of that history .
At some point , the evidence becomes sufficient to accept a phenomenon as real , even if we can not explain why it should work .
Gold prices have been on a tear since 2018 , and especially in 2020 .
That should mean a big upward move 15 months later as @ @ @ @ @ @ @ .
We are right at that inflection point right now .
Wheat and corn are big inputs into other food costs , serving as both raw materials for processed food items , and as feed for cattle and pigs .
So it is natural to observe that overall food costs will fluctuate in sympathy with those grain prices .
The curious point , however , is that overall food prices seem to move first .
Here is a comparison of gold ’ s price movements to a 12-month rate of change ( ROC @ @ @ @ @ @ @ series : To fit the patterns in this chart , I have to shorten the forward offset of gold prices from 15 months down to 12 months .
We are already seeing the food price increase which gold is calling for show up here , even though it has not yet shown up in wheat and corn prices .
The Covid disruption to supply chains is likely getting the credit for this in the minds of most economists and analysts .
But yet gold somehow knew in advance that it was coming .
@ @ @ @ @ @ @ overall food prices should continue to rise for at least the next 12 months .

by Tom McClellan
Farmers in the U.S. were excited this week about the news of China agreeing to buy 1.9 million tons of corn. That news has not yet given a lift to corn futures prices, but this week’s chart says that a major multi-month uptrend is coming.
The movements of gold prices tend to show up again about 15 months later in grain prices. And it works not just for corn, but also for wheat prices.
The wise reader may wonder why this phenomenon works so well, but wondering about that can get in the way of seeing it and accepting it. Gold has been freely traded in the U.S. only since 1975 (before 1971, prices were fixed), and this phenomenon has been working for the most part for all 45 years of that history. At some point, the evidence becomes sufficient to accept a phenomenon as real, even if we cannot explain why it should work.
We are primarily funded by readers. Please subscribe and donate to support us!
Gold prices have been on a tear since 2018, and especially in 2020. That should mean a big upward move 15 months later as grain prices echo gold’s move. We are right at that inflection point right now.
Wheat and corn are big inputs into other food costs, serving as both raw materials for processed food items, and as feed for cattle and pigs. So it is natural to observe that overall food costs will fluctuate in sympathy with those grain prices.
The curious point, however, is that overall food prices seem to move first. Here is a comparison of gold’s price movements to a 12-month rate of change (ROC) for the CPI Food and Beverage series:
To fit the patterns in this chart, I have to shorten the forward offset of gold prices from 15 months down to 12 months. We are already seeing the food price increase which gold is calling for show up here, even though it has not yet shown up in wheat and corn prices. The Covid disruption to supply chains is likely getting the credit for this in the minds of most economists and analysts. But yet gold somehow knew in advance that it was coming. And gold’s message says that overall food prices should continue to rise for at least the next 12 months.


investmentwatchblog--2020-08-02--MARKETSRanked: The Best and Worst Pension Plans, by Country

The global population is aging—by 2050 , one in six people will be over the age of 65 .
As our aging population nears retirement and gets closer to cashing in their pensions , countries need to ensure their pension systems can withstand the extra strain .
This graphic uses data from the Melbourne Mercer Global Pension Index ( MMGPI ) to showcase which countries are best equipped to support their older citizens , and which ones aren ’ t .
Each country ’ s pension system has been shaped by its own economic and historical context .
This makes @ @ @ @ @ @ @ countries—yet there are certain universal elements that typically lead to adequate and stable support for older citizens .
MMGPI organized these universal elements into three sub-indexes : • Adequacy : The base-level of income , as well as the design of a region ’ s private pension system .
• Sustainability : The state pension age , the level of advanced funding from government , and the level of government debt .
• Integrity : Regulations and governance put in place to protect plan members .
These three measures were used to rank @ @ @ @ @ @ @ , representing over 63 % of the world ’ s population .
While all three sub-indexes are important to consider when ranking a country ’ s pension system , sustainability is particularly significant in the modern context .
This is because our global population is increasingly skewing older , meaning an influx of people will soon be cashing in their retirement funds .
As a consequence , countries need to ensure their pension systems are sustainable over the long-term .
There are several factors that affect a pension system ’ s sustainability , @ @ @ @ @ @ @ system , the state pension age , and the balance between workers and retirees .
The country with the most sustainable pension system is Denmark .
Not only does the country have a strong basic pension plan—it also has a mandatory occupational scheme , which means employers are obligated by law to provide pension plans for their employees .
Several countries scored high on adequacy but ranked low when it came to sustainability .
Here ’ s a comparison of both measures , and how each country scored : Ireland took first place @ @ @ @ @ @ @ on the sustainability front at 27th place .
This can be partly explained by Ireland ’ s low level of occupational coverage .
The country also has a rapidly aging population , which skews the ratio of workers to retirees .
By 2050 , Ireland ’ s worker to retiree ratio is estimated to go from 5:1 to 2:1 .
Similar to Ireland , Spain ranks high in adequacy but places extremely low in sustainability .
There are several possible explanations for this—while occupational pension schemes exist , they are optional and participation @ @ @ @ @ @ @ low fertility rate , which means their worker-to-retiree ratio is expected to decrease .
All countries have room for improvement—even the highest-ranking ones .
Some general recommendations from MMGPI on how to build a better pension system include : • • Increasing the age of retirement : Helps maintain a more balanced worker-to-retiree ratio .
• Enforcing mandatory occupational schemes : Makes employers obligated to provide pension plans for their employees .
• Limiting access to benefits : Prevents people from dipping into their savings preemptively , thus preserving funds until retirement .
@ @ @ @ @ @ @ future liabilities : Ideally , these assets are more than 100 % of a country ’ s GDP .
Pension systems across the globe are under an increasing amount of pressure .
It ’ s time for countries to take a hard look at their pension systems to make sure they ’ re ready to support their aging population .

by visualcapitalist
The global population is aging—by 2050, one in six people will be over the age of 65.
As our aging population nears retirement and gets closer to cashing in their pensions, countries need to ensure their pension systems can withstand the extra strain.
This graphic uses data from the Melbourne Mercer Global Pension Index (MMGPI) to showcase which countries are best equipped to support their older citizens, and which ones aren’t.
The Breakdown
Each country’s pension system has been shaped by its own economic and historical context. This makes it difficult to draw precise comparisons between countries—yet there are certain universal elements that typically lead to adequate and stable support for older citizens.
MMGPI organized these universal elements into three sub-indexes:
Adequacy: The base-level of income, as well as the design of a region’s private pension system.
The base-level of income, as well as the design of a region’s private pension system. Sustainability: The state pension age, the level of advanced funding from government, and the level of government debt.
The state pension age, the level of advanced funding from government, and the level of government debt. Integrity: Regulations and governance put in place to protect plan members.
These three measures were used to rank the pension system of 37 different countries, representing over 63% of the world’s population.
Here’s how each country ranked:
The Importance of Sustainability
While all three sub-indexes are important to consider when ranking a country’s pension system, sustainability is particularly significant in the modern context. This is because our global population is increasingly skewing older, meaning an influx of people will soon be cashing in their retirement funds. As a consequence, countries need to ensure their pension systems are sustainable over the long-term.
We are primarily funded by readers. Please subscribe and donate to support us!
There are several factors that affect a pension system’s sustainability, including a region’s private pension system, the state pension age, and the balance between workers and retirees.
The country with the most sustainable pension system is Denmark. Not only does the country have a strong basic pension plan—it also has a mandatory occupational scheme, which means employers are obligated by law to provide pension plans for their employees.
Adequacy versus Sustainability
Several countries scored high on adequacy but ranked low when it came to sustainability. Here’s a comparison of both measures, and how each country scored:
Ireland took first place for adequacy, but scored relatively low on the sustainability front at 27th place. This can be partly explained by Ireland’s low level of occupational coverage. The country also has a rapidly aging population, which skews the ratio of workers to retirees. By 2050, Ireland’s worker to retiree ratio is estimated to go from 5:1 to 2:1.
Similar to Ireland, Spain ranks high in adequacy but places extremely low in sustainability.
There are several possible explanations for this—while occupational pension schemes exist, they are optional and participation is low. Spain also has a low fertility rate, which means their worker-to-retiree ratio is expected to decrease.
Steps Towards a Better System
All countries have room for improvement—even the highest-ranking ones. Some general recommendations from MMGPI on how to build a better pension system include:
Increasing the age of retirement: Helps maintain a more balanced worker-to-retiree ratio. Enforcing mandatory occupational schemes: Makes employers obligated to provide pension plans for their employees. Limiting access to benefits: Prevents people from dipping into their savings preemptively, thus preserving funds until retirement. Establishing strong pension assets to fund future liabilities: Ideally, these assets are more than 100% of a country’s GDP.
Pension systems across the globe are under an increasing amount of pressure. It’s time for countries to take a hard look at their pension systems to make sure they’re ready to support their aging population.


investmentwatchblog--2020-08-02--GDP Crash! ‘V-Shaped Recovery’ or ‘Greater Depression’? Who’s To Blame?

The economic bad news hit hard this week with the GDP crashing 33 % in the second quarter .
The @ @ @ @ @ steepest economic collapse since 1947 .
The fallout from Americans sacrificing their liberties to government @ @ @ @ @ suicides , drug overdoses , a doubling in domestic violence , and tens of millions @ @ @ @ @ come to everyone ’ s mind : “ Look what they ’ ve done !
@ @ @ @ @ never sacrifice their liberties again ” !

by Ron Paul of Ron Paul Liberty Report
We are primarily funded by readers. Please subscribe and donate to support us!
The economic bad news hit hard this week with the GDP crashing 33% in the second quarter. The tyrannical lockdowns have produced the steepest economic collapse since 1947. The fallout from Americans sacrificing their liberties to government power is overwhelming. With suicides, drug overdoses, a doubling in domestic violence, and tens of millions unemployed, two things should come to everyone’s mind: “Look what they’ve done!” and “Americans should never sacrifice their liberties again”!


investmentwatchblog--2020-08-02--Trump’s Spending Is Making The US Economic Recovery Harder, Biden Would Make It Even Worse

The dramatic economic decline due to the COVID-19 crisis and the unprecedented recovery spending plans approved by President Trump will drive the fiscal 2020 United States budget deficit to a record $ 3.8 trillion , or 18.7 percent of US gross domestic product , according to the Committee for a Responsible Federal Budget ( CRFB ) .
According to the same estimates , the fiscal 2021 deficit will reach $ 2.1 trillion and average $ 1.3 trillion through 2025 as the economy recovers from the impact of the forced shutdowns .
To finance this staggering fiscal effort , the Democratic @ @ @ @ @ @ @ announcing a massive tax hike that will neither help the economy nor reduce the deficit .
The solution to the United States budget deficit is not more taxes .
Even in the most optimistic receipt scenario , there is no tax hike program that would even start to address the structural deficit , estimated at $ 1 trillion a year , let alone the abovementioned estimates .
More taxes will hurt the recovery , damage job improvement potential , and reduce investment in the economy .
More taxes mean less growth and no @ @ @ @ @ @ @ this lesson quickly and extended the Bush tax cuts in 2020 , adding a new tax cut in 2013 .
Other misguided tax hikes in 2013 did nothing to reduce the debt and kept economic and job growth below potential .
A wealth tax , often pushed by the most extreme politicians in America , would not only provide exceedingly small revenues for the Treasury , it would generate more negatives than any improvement in tax receipts .
There is a reason why almost every European nation has abandoned the wealth tax .
@ @ @ @ @ @ @ impact on investment , attraction of capital , and job creation outweigh any revenue increase .
The wealth tax revenue relative to GDP in the countries where it exists ranges between 0.07 percent in Finland to 0.22 percent in France .
There is no way that a wealth tax would collect 1.4 percent of GDP as Senator Elizabeth Warren has estimated .
A wealth tax in the United States would make no visible reduction in the existing deficit , let alone finance the trillions in entitlement spending that Biden has announced .
So @ @ @ @ @ @ @ the deficit ?
The US deficit is rising due to excessive spending increases , despite periods of rising tax receipts .
The federal government ’ s revenue went up by 4 percent , to $ 3.46 trillion , in the 2019 fiscal year , according to the Congressional Budget Office ( CBO ) report .
However , spending went up by more than 8 percent , to $ 4.45 trillion .
The rise in the 2019 deficit was not due to the “ tax cuts.
” If anything , the tax cuts helped @ @ @ @ @ @ @ jobs and increasing receipts at the same time .
Corporate income taxes increased by $ 25 billion ( +12 percent ) , while individual income and payroll taxes together rose by $ 107 billion ( +4 percent ) .
Overall , total receipts rose by 4 percent ( $ 3.462 trillion in the 2019 fiscal year ) .
Total receipts remained at 16.15 percent of GDP , which is the long-term trend figure and consistent with an economy that remained in expansion , with moderate growth .
The main problem is that total @ @ @ @ @ @ @ $ 4.446 trillion ) , driven mostly by mandatory expenses in Social Security , Medicare , and Medicaid .
Those who say that the deficit would have been solved by eliminating the Trump tax cuts have a problem with mathematics .
There is no way in which any form of revenue measure would have covered a $ 338 billion spending increase .
No serious economist can believe that keeping uncompetitive tax rates well above the OECD ( Organisation for Economic Co-operation and Development ) average would have generated more receipts .
Furthermore , @ @ @ @ @ @ @ the Trump tax cuts would have generated more than $ 300 billion of new and additional revenues .
Remember that corporate tax receipts had already fallen 1 percent in 2017 and 13 percent in 2016 , before the Trump tax cuts .
The operating profit recession was already evident .
If anything , reducing the corporate rate helped companies recover , which in turn made total fiscal revenues rise by $ 13 billion to $ 3,328 billion in the 2018 fiscal year , according to the CBO .
The problem of the United @ @ @ @ @ @ @ spending was $ 2 trillion out of $ 4.45 trillion in total outlays in fiscal year 2019 , but it is projected to increase to $ 3.3 trillion .
Even if discretionary spending stays flat , total outlays are estimated to increase significantly beyond any advance in tax revenues .
Printing money has not reduced deficits or debt .
The Federal Reserve has increased its balance sheet to record highs , on its way to $ 10 trillion , and purchasing Treasurys has only driven governments to continue to spend above budget and @ @ @ @ @ @ @ if proponents of massive money printing tell us that deficits do not matter and that the United States government should spend all it needs because the Fed will acquire all the debt , then there is no need for higher taxes , is there ?
In fact , if modern monetary theory ( MMT ) proponents are right , taxes should be cut and deficits monetized to drive the recovery .
The problem is that the magic money tree does not exist .
Monetary policy is only disguising a structural and dangerous spending @ @ @ @ @ @ @ only be maintained if the US dollar remains the world reserve currency .
Therefore , not only is there a limit to how much can the Fed print , there is also a risk that if governments do not reduce spending the US may lose its world reserve currency status .
Consequently , the only solution for America to reduce debt is to cut spending and entitlements .
Any politician should understand that it is simply impossible to collect an additional $ 3 trillion per year over and above the existing receipts .
@ @ @ @ @ @ @ in the US dollar may collapse if deficits continue to balloon .
It is completely impossible to double the receipts of a growth year like 2019 with higher taxes .
Higher taxes will only wreck an already weak economy and delay the recovery .
And it is completely impossible to reduce deficits by printing money .
Governments will only increase spending if they can monetize it at the expense of real wages and savings .
Believing that the deficit can be reduced by massively hiking taxes is not understanding the US economy and @ @ @ @ @ @ @ to job destruction , corporate relocation to other countries , and lower investment .
Believing that the deficit will be reduced by printing money is not understanding the perverse incentives of governments .
The proof that the US problem is a spending one is that even those who propose massive tax hikes are not expecting to meaningfully cut the deficit , even less so to reduce the debt .
That is why they add massive money printing to their magic solutions .
It will not work either .
And this reckless policy may @ @ @ @ @ @ @ status .
Debt matters , even if interest rates are low .
Increasing debt and spending means lower growth and weaker real wages in the future .
Daniel Lacalle , PhD , economist and fund manager , is the author of the bestselling books Freedom or Equality ( 2020 ) , Escape from the Central Bank Trap ( 2017 ) , The Energy World Is Flat ( 2015 ) , and Life in the Financial Markets ( 2014 ) .
He is a professor of global economy at IE Business School in Madrid @

by Daniel Lacalle via Mises
The dramatic economic decline due to the COVID-19 crisis and the unprecedented recovery spending plans approved by President Trump will drive the fiscal 2020 United States budget deficit to a record $3.8 trillion, or 18.7 percent of US gross domestic product, according to the Committee for a Responsible Federal Budget (CRFB). According to the same estimates, the fiscal 2021 deficit will reach $2.1 trillion and average $1.3 trillion through 2025 as the economy recovers from the impact of the forced shutdowns.
To finance this staggering fiscal effort, the Democratic Party leader, Joe Biden, is announcing a massive tax hike that will neither help the economy nor reduce the deficit.
The solution to the United States budget deficit is not more taxes. Even in the most optimistic receipt scenario, there is no tax hike program that would even start to address the structural deficit, estimated at $1 trillion a year, let alone the abovementioned estimates.
More taxes will hurt the recovery, damage job improvement potential, and reduce investment in the economy. More taxes mean less growth and no deficit improvement.
The Obama administration learned this lesson quickly and extended the Bush tax cuts in 2020, adding a new tax cut in 2013. Other misguided tax hikes in 2013 did nothing to reduce the debt and kept economic and job growth below potential.
A wealth tax, often pushed by the most extreme politicians in America, would not only provide exceedingly small revenues for the Treasury, it would generate more negatives than any improvement in tax receipts. There is a reason why almost every European nation has abandoned the wealth tax. The receipts are negligible and the negative impact on investment, attraction of capital, and job creation outweigh any revenue increase. The wealth tax revenue relative to GDP in the countries where it exists ranges between 0.07 percent in Finland to 0.22 percent in France. There is no way that a wealth tax would collect 1.4 percent of GDP as Senator Elizabeth Warren has estimated. A wealth tax in the United States would make no visible reduction in the existing deficit, let alone finance the trillions in entitlement spending that Biden has announced.
So, how can the United States reduce the deficit?
The US deficit is rising due to excessive spending increases, despite periods of rising tax receipts. The federal government’s revenue went up by 4 percent, to $3.46 trillion, in the 2019 fiscal year, according to the Congressional Budget Office (CBO) report. However, spending went up by more than 8 percent, to $4.45 trillion.
The rise in the 2019 deficit was not due to the “tax cuts.” If anything, the tax cuts helped the economy stay in expansion, creating jobs and increasing receipts at the same time. Corporate income taxes increased by $25 billion (+12 percent), while individual income and payroll taxes together rose by $107 billion (+4 percent). Overall, total receipts rose by 4 percent ($3.462 trillion in the 2019 fiscal year). Total receipts remained at 16.15 percent of GDP, which is the long-term trend figure and consistent with an economy that remained in expansion, with moderate growth.
The main problem is that total outlays rose by 8 percent (to $4.446 trillion), driven mostly by mandatory expenses in Social Security, Medicare, and Medicaid.
Those who say that the deficit would have been solved by eliminating the Trump tax cuts have a problem with mathematics. There is no way in which any form of revenue measure would have covered a $338 billion spending increase.
No serious economist can believe that keeping uncompetitive tax rates well above the OECD (Organisation for Economic Co-operation and Development) average would have generated more receipts. Furthermore, no serious economist can believe that eliminating the Trump tax cuts would have generated more than $300 billion of new and additional revenues.
Remember that corporate tax receipts had already fallen 1 percent in 2017 and 13 percent in 2016, before the Trump tax cuts. The operating profit recession was already evident. If anything, reducing the corporate rate helped companies recover, which in turn made total fiscal revenues rise by $13 billion to $3,328 billion in the 2018 fiscal year, according to the CBO.
The problem of the United States budget is mandatory spending.
We are primarily funded by readers. Please subscribe and donate to support us!
Mandatory spending was $2 trillion out of $4.45 trillion in total outlays in fiscal year 2019, but it is projected to increase to $3.3 trillion. Even if discretionary spending stays flat, total outlays are estimated to increase significantly beyond any advance in tax revenues.
Printing money has not reduced deficits or debt. The Federal Reserve has increased its balance sheet to record highs, on its way to $10 trillion, and purchasing Treasurys has only driven governments to continue to spend above budget and the trend of receipts.
Furthermore, if proponents of massive money printing tell us that deficits do not matter and that the United States government should spend all it needs because the Fed will acquire all the debt, then there is no need for higher taxes, is there? In fact, if modern monetary theory (MMT) proponents are right, taxes should be cut and deficits monetized to drive the recovery.
The problem is that the magic money tree does not exist. Monetary policy is only disguising a structural and dangerous spending problem, and this reckless behavior can only be maintained if the US dollar remains the world reserve currency. Therefore, not only is there a limit to how much can the Fed print, there is also a risk that if governments do not reduce spending the US may lose its world reserve currency status.
Consequently, the only solution for America to reduce debt is to cut spending and entitlements.
Any politician should understand that it is simply impossible to collect an additional $3 trillion per year over and above the existing receipts. They should also understand that the trust in the US dollar may collapse if deficits continue to balloon.
It is completely impossible to double the receipts of a growth year like 2019 with higher taxes. Higher taxes will only wreck an already weak economy and delay the recovery. And it is completely impossible to reduce deficits by printing money. Governments will only increase spending if they can monetize it at the expense of real wages and savings.
Believing that the deficit can be reduced by massively hiking taxes is not understanding the US economy and the global situation. It would lead to job destruction, corporate relocation to other countries, and lower investment. Believing that the deficit will be reduced by printing money is not understanding the perverse incentives of governments.
The proof that the US problem is a spending one is that even those who propose massive tax hikes are not expecting to meaningfully cut the deficit, even less so to reduce the debt. That is why they add massive money printing to their magic solutions. It will not work either. And this reckless policy may destroy the US dollar’s reserve status.
Debt matters, even if interest rates are low. Increasing debt and spending means lower growth and weaker real wages in the future.
Originally published at dlacalle.com.
Author:
Daniel Lacalle
Daniel Lacalle, PhD, economist and fund manager, is the author of the bestselling books Freedom or Equality (2020),Escape from the Central Bank Trap (2017), The Energy World Is Flat (2015), and Life in the Financial Markets (2014).
He is a professor of global economy at IE Business School in Madrid.


investmentwatchblog--2020-08-02--Oh France! Oh Spain! Oh Italy!

Oh France! Oh Spain! Oh Italy!

After yesterday ’ s update from Germany we move onto the second , third and fourth largest economies in the Euro area , who rather curiously have produced their figures in that order this morning .
So as we mull the fact that Germany accelerated the release of its GDP ( Gross Domestic Product ) numbers at exactly the wrong time we also need to be ready for bad news .
That is like two explosions going off with the 5.9 % being credit crunch like but then it being followed by a much louder bang .
The total of @ @ @ @ @ @ @ know the cause .
But the beginning of the recovery seems understated .
In terms of the detail well everything in the domestic economy fell with one of the components being rather curious .
I wonder how they managed to find a category of government spending that fell ?
!
Maybe it was stuff they could not buy as it was out of stock .
But it rather sticks out as does this .
In the UK we still seem to be spending more on food whereas France seems to have stocked up @ @ @ @ @ @ @ the numbers are larger trade turns out to be a much smaller factor which reminds us that trade numbers are unreliable at the best of times and maybe nearly hopeless right now .
Make of that what you will .
This starts especially grimly as the opening page tells us there has been a 22.1 % fall in GDP .
So let us look more deeply at the state of play .
which brings us to this .
That is a bit of a “ Boom !
Boom !
Boom !
” moment @ @ @ @ @ @ @ breakdown is as follows .
We get a sort of confirmation from all of this from the hours worked numbers which at the same time provide a critique of the unemployment data .
Some areas saw not far off a collapse in demand , because of past issues the construction numbers stood out to me .
The reason why that sector stands out is the way it affected the economy and the banks as the credit crunch rolled into the Euro area crisis .
We advance on Italy nervously because of its past @ @ @ @ @ @ @ the smallest of these three .
As to the breakdown well it was everything if we skip over a slightly bizarre focus on farming .
Farming is of course very important but it hardly the main player in this context .
There are a lot of contexts to this so let us start with the national ones .
Spain was the main “ Euro Boom ” beneficiary with annual economic growth reaching 4.2 % in early 2015 but now we are reminded that it can be the leader of the pack in down @ @ @ @ @ @ @ lost less but it is hard not to think that is because it has less to lose and this from @ fwred is rather chilling .
As the morning has developed we can now look at the overall picture for the Euro area .
We can use the numbers to compare with the United States as the annual decline of 15 % of the Euro area is larger than the 9.5 % there .
I think this is outside the margin of error but potential errors right now will be large .
There @ @ @ @ @ @ @ will bounce back and I am sure that some areas will .
But there are others where it will not and if we think of the “ girlfriend in a coma ” it never seems to do that .
Quarterly economic output in Italy was 417 billion Euros at the beginning of 2017 rising to 431 billion and now falling to 356 billion .
In the end this is the problem with all the can kicking .
We have arrived at the next storm without fixing the damage caused by the last one @ @ @ @ @ @ @ official interest-rate is -0.6 % and of course -1 % for the banks ?

by Shaun Richards
After yesterday’s update from Germany we move onto the second, third and fourth largest economies in the Euro area, who rather curiously have produced their figures in that order this morning. So as we mull the fact that Germany accelerated the release of its GDP ( Gross Domestic Product) numbers at exactly the wrong time we also need to be ready for bad news.
In Q2 2020, GDP in volume terms declined: –13.8%, after –5.9% in Q1 2020. It is 19% lower than in Q2 2019. ( Insee of France)
That is like two explosions going off with the 5.9% being credit crunch like but then it being followed by a much louder bang. The total of -19% is somewhat chilling.
We know the cause.
GDP’s negative developments in first half of 2020 is linked to the shut-down of “non-essential” activities in the context of the implementation of the lockdown between mid-March and the beginning of May
But the beginning of the recovery seems understated.
The gradual ending of restrictions led to a gradual recovery of economic activity in May and June, after the low point reached in April.
In terms of the detail well everything in the domestic economy fell with one of the components being rather curious.
Household consumption expenditures dropped (–11.0% after –5.8%), as did total gross fixed capital formation in a more pronounced manner (GFCF: –17.8% after –10.3%). General government expenditure also stepped back (–8.0% after –3.5%).
I wonder how they managed to find a category of government spending that fell?! Maybe it was stuff they could not buy as it was out of stock. But it rather sticks out as does this.
Food expenditure slightly decreased (–0.5% after +2.8%).
In the UK we still seem to be spending more on food whereas France seems to have stocked up and then begun to de-stock.
Although the numbers are larger trade turns out to be a much smaller factor which reminds us that trade numbers are unreliable at the best of times and maybe nearly hopeless right now.
In Q2 2020, imports declined strongly (–17.3% after –10.3%), notably in manufactured goods. Exports fell in a more pronounced manner (–25.5% after –6.1%), in particular in transport equipment. All in all, foreign trade contributed negatively to GDP growth this quarter (–2.3 points after –0.1points).
Make of that what you will.
Spain
This starts especially grimly as the opening page tells us there has been a 22.1% fall in GDP. So let us look more deeply at the state of play.
The Spanish GDP registers a variation of -18.5% in the second quarter of 2020 compared to the previous quarter in terms of volume. This rate is 13.3 points lower than that registered in the first quarter.
which brings us to this.
The year-on-year change in the GDP stood at −22.1%, compared to −4.1% for the quarter
preceding.
That is a bit of a “Boom! Boom! Boom!” moment although notin an economic sense and the breakdown is as follows.
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The contribution of domestic demand to year-on-year GDP growth is −19.2 points, 15.5 points lower than that of the first quarter. For its part, external demand represents a contribution of −2.9 points, 2.5 points lower than that of the previous quarter.
We get a sort of confirmation from all of this from the hours worked numbers which at the same time provide a critique of the unemployment data.
In year-on-year terms, hours worked decreased by 24.8%, rate 20.6 points lower than in the first quarter of 2020, and full-time equivalent positions down 18.5%, 17.9 points less than in the first quarter, which represents decrease of 3,394 thousand full-time equivalent jobs in one year.
Some areas saw not far off a collapse in demand, because of past issues the construction numbers stood out to me.
Household final consumption expenditure experiences a year-on-year decrease of 25.7%, 19.9 points less than in the last quarter. For its part, the final consumption expenditure of the Public Administrations presented an inter annual variation of 3.5%, one tenth less than that of the preceding quarter.
Gross capital formation registered a decrease of 25.8%, 20.5 points higher than that of previous quarter. The investment in tangible fixed assets decreases at a year-on-year rate of 30.8%, which it represents 22.4 points more than in the previous quarter. By components, the investment in homes and other buildings and constructions decreased 22.6 points, going from −8.3% to -30.9%, while investment in machinery, capital goods and weapons systems it decreases 23 points when presenting a rate of −32.3%, compared to −9.3% in the previous quarter.
The reason why that sector stands out is the way it affected the economy and the banks as the credit crunch rolled into the Euro area crisis.
Italy
We advance on Italy nervously because of its past record but the fall was in fact the smallest of these three.
In the second quarter of 2020 the seasonally and calendar adjusted, chained volume measure of Gross
Domestic Product (GDP) decreased by 12.4 per cent with respect to the previous quarter and by 17.3 per
cent over the same quarter of previous year.
As to the breakdown well it was everything if we skip over a slightly bizarre focus on farming.
The quarter on quarter change is the result of a decrease of value added in agriculture, forestry and
fishing, in that of industry as well as in services. From the demand side, there is a negative contribution
both by the domestic component (gross of change in inventories) and the net export component.
Farming is of course very important but it hardly the main player in this context.
Comment
There are a lot of contexts to this so let us start with the national ones. Spain was the main “Euro Boom” beneficiary with annual economic growth reaching 4.2% in early 2015 but now we are reminded that it can be the leader of the pack in down as well as upswings. Italy has lost less but it is hard not to think that is because it has less to lose and this from @fwred is rather chilling.
Following a triple-dip recession and a pandemic, Italian GDP is down 21% from its 2008 peak, back to levels not seen since… 1993. 27 years. This has to be the most depressing chart I have ever posted on Twitter. pic.twitter.com/4Eh78YG8Qh — Frederik Ducrozet (@fwred) July 31, 2020
As the morning has developed we can now look at the overall picture for the Euro area.
In the second quarter 2020, still marked by COVID-19 containment measures in most Member States, seasonally
adjusted GDP decreased by 12.1% in the euro area and by 11.9% in the EU, compared with the previous quarter,
according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
These were by far the sharpest declines observed since time series started in 1995. In the first quarter of 2020,
GDP had decreased by 3.6% in the euro area and by 3.2% in the EU.
We can use the numbers to compare with the United States as the annual decline of 15% of the Euro area is larger than the 9.5% there. I think this is outside the margin of error but potential errors right now will be large.
There is a collective assumption that these things will bounce back and I am sure that some areas will. But there are others where it will not and if we think of the “girlfriend in a coma” it never seems to do that. Quarterly economic output in Italy was 417 billion Euros at the beginning of 2017 rising to 431 billion and now falling to 356 billion.
In the end this is the problem with all the can kicking. We have arrived at the next storm without fixing the damage caused by the last one. Where do you go when the official interest-rate is -0.6% and of course -1% for the banks?