ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Jul 31 06:43

Dying Restaurants Are Rushing To Liquidate Assets On Facebook Marketplace

The restaurant industry is in collapse. More specifically, small restaurants have been crushed by the virus-induced recession. We've noted at least half of the restaurant closures on Yelp are now permanent.

The National Restaurant Association has determined that at least 15% of all restaurants will close. This number could be a lot higher at the end of the year as Goldman Sachs reports the economic recovery is now reversing.

Small restaurant operators, who fear a double-dip recession, have now resorted to liquidating their eateries on Facebook Marketplace.

A simple search of "restaurant" on Facebook Marketplace, within 80 miles of Trenton, New Jersey, comes up with dozens and dozens and dozens of mom and pop eateries that are trying to get out of the game.

Jul 31 06:10

Gold Goes Mainstream, New York Times Edition

Jul 30 19:24

Enjoy The Gold Fireworks Show While It Lasts

Jul 30 13:06

Is This An L Shaped Recovery?

Jul 30 12:54

Are Markets Priced To Perfection?

Jul 30 12:41

Trump suggests delaying November election

President Donald Trump on Thursday suggested delaying the November election as he continued to raise the false specter of widespread voting fraud. -- “With Universal Mail-In Voting (not Absentee Voting, which is good), 2020 will be the most INACCURATE & FRAUDULENT Election in history. It will be a great embarrassment to the USA. Delay the Election until people can properly, securely and safely vote???” he tweeted.

Jul 30 12:36

Economic Nightmare: Nearly 50 Percent Of All The Jobs Lost During The COVID-19 Pandemic “May Be Gone Permanently”

When millions of Americans were losing their jobs at the beginning of this pandemic, we were told not to worry because the lockdowns were just temporary and virtually all of those workers would be going back to their old jobs once the lockdowns ended. Well, now we are finding out that was not even close to true. Over the last 18 weeks, more than 52 million Americans have filed new claims for unemployment benefits, and a very large percentage of them are dealing with a permanent job loss. In fact, one brand new survey discovered that 47 percent of all unemployed workers now believe that their “job loss is likely to be permanent”. The following comes from a USA Today article entitled “Almost half of all jobs lost during pandemic may be gone permanently”…

Jul 30 12:29

GLOBAL STIMULUS

Jul 30 12:23

Crash the Economy, Burn the Cities, Infect the People: the Evil Plan to Remake America?

The American people are under attack, the country is under attack, and democracy is under attack. At present, the enemy is conducting a three-pronged assault on the presidency the objective of which is to remove the existing administration and install their own sock-puppet replacement. This has been the goal from the very beginning although the great swirl of events has confused many as to the true nature of what is actually taking place. What we are seeing is a dirty tricks campaign (Russiagate) inflated into a full-blown, scorched earth, winner-take-all assault on the presidency.

Jul 30 11:39

The reason why Intel dropped 15%

Jul 30 10:03

Ford Factory Employs Two Boston Dynamics Robot Dogs

By Aaron Kesel

The motor and vehicle giant Ford has employed two of Boston Dynamics robot dogs onto its factory floor.

According to a report by Motor Trend, the car and truck maker is going to be utilizing Boston Dynamics robot dogs "Fluffy" and "Spot," for scanning the factory with lasers. These robot canines will be utilized in the Van Dyke transmission plant near Detroit, Michigan.

"These robots can be deployed into tough-to-reach areas within the plant to scan the area with laser scanners and high-definition cameras, collecting data used to retool plants, saving Ford engineers time and money," Ford wrote in a press release...

Jul 30 05:49

The Markets Are Sending Confounding Messages

Jul 30 05:32

A SCENE FROM HELL’: BRIDGE PARTIALLY COLLAPSES IN ARIZONA AS FIRST RESPONDERS BATTLE MASSIVE FIRE ON DERAILED TRAIN (VIDEOS)

Dozens of first responders are working to put out a fire following a Union Pacific train derailment near Tempe, Arizona. The bridge it was traveling on has partially collapsed, but no injuries have been reported.

Video and photos from the scene show massive amounts of smoke billowing from the site of the crash. Local officials say the smoke cloud is so obtrusive that it has caused traffic in nearby areas to be rerouted. Police are warning people to avoid the area.

Webmaster's Commentary: 

This is the kind of tragedy which happens when politicians decide that infrastructure maintenance "can be deferred" without ever considering the consequences of "deferred maintenance".

Jul 30 04:24

Is the Dollar Overvalued or Undervalued?

Jul 29 10:39

US Mint has reduced silver, gold coin supplies to purchasers

The US Mint has reduced the volume of gold and silver coins it’s distributing to authorized purchasers as the coronavirus pandemic slows production, a document seen by Bloomberg shows.

Jul 29 09:18

VELOCITY & The Money Illusion - Hidden Secrets Of Money Episode 7 - Mike Maloney

History shows that once or twice in a generation a global crisis comes along that radically devastates people’s way of life. A fundamental shift so big and drastic and overwhelming that it destroys their standard of living and impacts every area of their lives. We are about to experience one of those events…As Mike Maloney outlines in his brand new episode of the Hidden Secrets of Money, that next major event is deflation. And the culprit will be a relatively obscure monetary term that will impact virtually every area of your life: money velocity. You may not know exactly what money velocity means, but we will all soon experience it firsthand. In fact, money velocity will be the culprit of not just deflation, but the resulting inflation—and maybe hyperinflation—that will immediately follow.

Jul 29 06:32

Is China's Massive Three Gorges Dam On The Edge Of Failure?

Authored by Bruce Wilds via Advancing Time blog,

The massive flooding taking place in China continues, for some reason, this story has been widely ignored by mainstream media. It is important because China's massive Three Gorges Dam is in peril. If the dam fails there will be a staggering loss of lives and property. The Three Gorges Dam is around one and a half miles long and just over 600 feet tall. About 400 million people live downstream of the dam and apparently, no plans have been made for their evacuation.

Webmaster's Commentary: 

IF I were a member of the Chinese government right now, I would be summoning experts from around the world, domestic and international hydrologists and engineers, and do a consultation about minimizing the damage from any "deformation" on the dam, and figure out how to fix it, or replace the damaged portion.

The potential for physical, and geopolitical damage, and failure to get this handled intelligently, will be too much for the current Communist party to bear, looking at the current damage it is facing, both nationally and internationally, from its Covid-19 response.

Jul 29 05:55

Fed Extends Emergency Lending Programs Through End Of Year

US stock prices are at record highs and credit spreads near record lows amid hopes and prayers for the v-shaped recovery which has already sent US macro surprise data soaring.

But, it appears The Fed is not buying the bounce and feels like the "economy" needs help a "little" longer, extended most of its emergency lending programs by three months, through the remainder of 2020.

Jul 29 05:36

The Next Coronavirus Stimulus Plan: More Spending, Smaller Unemployment Benefits, and Tax Breaks for Going Out To Eat

Senate Republicans announced Monday that the federal government will pay an additional $200 per week in unemployment benefits. The $600 per week benefits boost will expire on July 31.

Jul 29 05:26

The Injection Fraud – It’s Not a Vaccine

I was an investment banker until politics made it impossible to continue to practice my art. I was trained as a portfolio strategist—so I map my world by watching the financial flows and allocation of resources. I was also trained as a conspiracy generator and foot soldier—conspiracies being the fundamental organizing principle of how things get done in our world. It was not until I left the establishment that I learned that those not in the club had been trained to disparage and avoid conspiracies—a clever trick that sabotages their efforts to gather power.

Jul 29 05:24

"Like Nothing We’ve Ever Seen": Imminent Eviction Wave Is Coming To These States

The eviction moratorium expired last Friday nearly four months after the US economy effectively shutdown due to the covid pandemic, and more than 12 million renters - all behind on rent payments because of the virus-induced recession - are now at imminent risk of getting booted to the curb.

This Friday, some 25 million Americans will no longer receive their weekly $600 federal unemployment checks, and the next round of government handouts, currently discussed by Republicans and Democrats, could see benefits slashed from $600 to $200 (or be nothing at all if no deal is reached in Congress). This would crush household finances across middle-class America, resulting in an even higher number of households unable to pay their rent bill in the months ahead.

Jul 29 05:18

Senate GOP coronavirus bill includes $29.4B for Pentagon

The Pentagon would get nearly $30 billion under the Senate Republicans’ coronavirus relief plan, including $8 billion for weapons systems.

The $29.4 billion for the Pentagon is included in the $1 trillion coronavirus aid package Senate Republicans released Monday night.

Democrats have already declared the bill a non-starter, but it lays out Republicans and the White House’s priorities heading into negotiations.

Republicans are defending the funding for acquisition programs as supporting the defense industrial base at a time of economic hardship and job losses, but Democrats are blasting it as a giveaway to defense contractors.

Jul 28 22:59

Harrowing photos show a hatchling turtle trapped in a plastic bottle among 12 TONNES of rubbish on an Australian beach

Marine conservation group revealed they cleaned up 12 tonnes of rubbish
It was the second time Sea Shepherd had cleaned Djulpan Beach, NT, since 2018
Images showed one turtle that died after becoming caught in netting
Marine animals such as turtles and crabs were trapped in plastic bottles

Jul 28 15:08

Market Breadth.

Jul 28 14:18

Media Continues To Misreport Unemployment: 31.8 Million People On Unemployment Insurance

It just doesn’t let up. An astounding number of newly laid-off workers keeps filing for unemployment benefits week after week and pile on top of the people already unemployed. And the number of people who started working again isn’t big enough to make a visible dent in the curve.

Jul 28 10:34

Chicago Mayor Now Blames 'Guns From Other States' For Horrific Violence

As Chicago continues to experience an explosion in crime, mayor Lori Lightfoot has found a new bogeyman to blame; guns from out of state (and not those firing them).

Our gun problem is related to the fact that we have too many illegal guns in our streets — 60% of which come from states outside of Illinois," Lightfoot said during a Sunday interview with CNN.

Chicago Mayor Lightfoot: "We are being inundated with guns from states that have virtually no gun control, no background checks, no ban on assault weapons -- that is hurting cities like Chicago."

Webmaster's Commentary: 

I have to wonder if Mayor Lightfoot can actually back up these claims with real numbers and statistics; this "60% of illegal guns coming from outside the state" doesn't quite pass the "smell test" for me.

In attempting to deflect blame for this violence, she is also telling Chicagoans and the world that she cannot keep the city safe, which is the real problem here.

Jul 28 10:30

Dry Bulk Shipping Rates Slashed In Half

By Greg Miller of Freightwaves,

Fortunes rise and fall fast in ocean shipping. Easy come, easy go. Case in point: Dry bulk spot rates were surging throughout June and the first week of July. Today, they’re on a steep slide.

“Levels for the big ships are spiraling downward,” brokerage Fearnleys wrote in its weekly report.

“Every rally is followed by a correction, something that is currently taking place following one of the strongest rallies in recent memory,” commented Breakwave Advisors, creator of the BreakWave Dry Bulk Shipping ETF.

Webmaster's Commentary: 

Shipping is one very reliable gauge on the economy; if this is happening, you can bet that the economy is in full melt-down at the moment.

Jul 28 09:57

HOW AMAZON CRUSHED STARTUPS BY INVESTING TO STEAL IDEAS & LAUNCHING COMPETITORS

In recent years, Amazon has invested in a lot of start-ups thus, gaining their proprietary information. This helps Amazon to crush smaller companies by launching similar products in the market that end up competing with the one’s the start-ups launched.

This was initially reported by The Wall Street Journal’s Dana Mattioli and Cara Lombardo. The journalists spoke with many founders, investors, and advisers, of different start-ups who said Amazon met with or invested in their companies, only with the sole motive of later building its own products that directly competed with the smaller company.

Owing to the popularity of Amazon, the Amazon-made products often went on to crush the competition and the smaller companies.

LivingSocial, a deals website in which Amazon took a 30% stake says that it began requesting the access to company’s data, it even hired away some of their employees and contacted LivingSocial’s clients offering them better deals.

Jul 28 09:53

GOOGLE, APPLE AND AMAZON ARE LEADING A $30 TRILLION ASSAULT ON WALL STREET

There’s a multi-trillion dollar trend completely upending Wall Street…

With some of the biggest names in the business such as Amazon’s Jeff Bezos and the world’s largest asset manager, BlackRock jumping on board.

And they’re not alone. Apple, Google, and even some of America’s leading automakers are completely shifting gears to accommodate investors’ demands to conform to this new financial reality.

But one small startup out of Canada’s Silicon Valley is way ahead of the pack…

And they’re looking to upend the personal transportation industry as we know it.

Uber fired the first shots…revolutionizing a hundred-year-old dynasty, with the taxi industry forced to its knees in a matter of years.

Now, it’s Facedrive Inc. (TSXV:FD; OTC:FDVRF) that’s stepping up to the plate.

Jul 28 09:39

The millions 'hanging by a thread' as coronavirus aid expires

When Brandon Humberston's weekly unemployment benefits finally kicked in after months of waiting, the $750 (£586) cheque was a "godsend".

Suddenly the 19-year-old, who worked as a cook at Mexican restaurant chain Chipotle until the pandemic cost him his job, could pay rent and buy groceries - even save a little.

Now much of that income is set to disappear.

The $600 a week additional payment that the US approved to top up unemployment benefits during the pandemic will expire on 31 July. In many states, recipients have already received their last cheque.

"It's pretty dire," says Mr Humberston, whose benefits will be cut to $150. "My generation is hanging on by a thread".

Jul 28 09:38

Bitcoin surges over $10,000, could surpass $15,000, digital-currency experts say

Bitcoin prices were taking flight on Monday, pushing the digital currency to the highest level in about two months and ending the long dormancy of the world’s No. 1 virtual asset.

Bitcoin, the largest and most influential cryptocurrency, shot past the key $10,000 resistance marker—all eyes are now on the critical $10,500 level,” wrote Nigel Green, chief executive and founder of deVere Group, a financial firm, advising some $12 billion.

Bitcoin’s BTCUSD, 2.89% recent rally to $10,237 took it to around its highest level since June 1 based on spot prices.

Jul 28 06:06

World Bank/IMF Exposed: COVID Aid Conditional On Imposing Extreme Lockdowns, Curfews

Via GreatGameIndia.com,

Huge foreign loans are given to sovereign nations by the World Bank, IMF and the likes. But the conditions that come attached to these loans are seldom told by governments to their citizens.

A recent case in Belarus has exposed the conditions laid by these agencies for loans being provided for COVID-19. The President of Belarus has exposed that the World Bank coronavirus aid comes with conditions for imposing extreme lockdown measures, to model their coronavirus response on that of Italy and even changes in the economic policies which he refused as being “unacceptable”.

Webmaster's Commentary: 

I'm not a "flat earther" when it comes to Covid 19; this is a real problem, and has killed and sickened many, some of whom are having bad residual health problems with their hearts and lungs as a result of having gotten infected.

But I have to ask; is the "treatment" demanded by various financial bodies, in terms of lockdowns and personal isolations, in order for countries to get financial aid, worse than the actual disease itself?!?

We have the following story from biospace.com in May, which ran the following headline: Multiple Studies Suggest COVID-19 Mortality Rate May Be Lower Than Expected

And with older patients who get this disease, it has been documented that many people symptomatic with Covid-19 have underlying health issues, such as diabetes and obesity.

You also have the "fear factor", being well played up by folks like Bill Gates, who has a financial stake in the development of a rushed vaccine, which may or may not be safe for the general population.

I personally haven't had as much as a recognisable sniffle since this whole thing started. I take my vitamins, and wear masks in public places; these measures are not unreasonable, so I do them, but have to question their actual effect on flattening the curve of infections.

Jul 28 05:49

Dr. Fauci, Bill Gates, others, profiteering from world-scale respiratory illness racketeering scheme

Topdown firesale approach to globalist master plan reveals impending “natural disaster” or biological release may be on the way

(INTELLIHUB) — New and shocking information obtained by Intellihub reveals that Dr. Anthony Fauci is listed on the Board of Directors of the Global Preparedness Monitoring Board (GPMB) and appears to be involved in a mammoth worldwide racketeering network scheme in which a prefabricated and deliberately contrived ‘health crisis’ has been used as a means to lockdown and suppress human activity worldwide while allowing the perpetrators of the dastardly multi-faceted and multi-pronged agenda to loot the proverbial coffers of the people and government simultaneously paving the way for a New World Order-style dystopian police state.

The GPMB is comprised of experts from non-governmental organizations, academic institutions, national governments, and multilateral agencies including the World Health Organization and World Bank Group respectively.

Jul 28 04:37

THIS IS WHY GOLD COULD GO UP A LOT MORE.

Jul 28 04:30

ROTHSCHILD ACUTE HEADACHE: GOLD’S METEORIC MOVE!

This isn’t Warren Buffett’s best year, in terms of PUBLIC PERCEPTION. He’s been ridiculed for selling the airlines a number of days before their SHARE PRICES bottomed and began TURNING AROUND. Gold, which Buffett often says does nothing and “Just Sits There” is SITTING PRETTY and outperforming Berkshire’s by miles and miles. Meanwhile Berkshire’s CASH PILE is eroding fast in PURCHASING POWER, but one thing to remember about Buffett is that he is the greatest capital allocator to ever live.

No one has championed the art of deciding where to put your next dollar to get the best RISK-ADJUSTED RETURN like he has. The chief reason for that, according to Warren himself, can be plainly summarized by his first rule of investing: NEVER LOSE MONEY.

The rule is obviously a rule of thumb (since never losing is impossible), which speaks to his STATE OF MIND – his obsession with playing defense, not offense, and with being consumed by the idea of RISK MANAGEMENT, not with maximum leverage.

Jul 28 04:29

Precious metals spiking for some reason

Jul 28 04:13

DAVID JENSEN: “THE OLD GAME OF CONTROLLING THE MARKET WITH PAPER & METALS MANIPULATION IS GONE”

Recently, David Jensen sat down with Kenneth Ameduri of Crush the Street to discuss the huge gains in precious metals. Jensen also says there is no recovery coming to us. The extreme money creation by the central bank (the Federal Reserve) will ensure there is a complete collapse in the near future.

The one takeaway from Jensen is that silver will continue to outperform gold for the time being. There is no better time than now to protect your wealth against an ever-weakening dollar. As Jensen noted, there was a “catastrophe” when the ruling class decided to shut down the entire economy. “I think we’re heading into a new economic and a new social world here, driven by the disruption of the economy,” he added. Jensen says the U.S. has been running on a debt bubble since 1987 and it was always meant to burst.

Jul 28 04:09

Why Nothing Can Stop Gold: Deutsche Bank Projects Fed's Balance Sheet Will Hit $20 Trillion In "Next Few Years"

One week ago, Deutsche Bank's top credit strategist, the often whimsical amateur piano player, Jim Reid, did the unthinkable, admitting that he is "a gold bug", and adding that in his opinion, "fiat money will be a passing fad in the long-term history of money", a shocking admission for most career financial professionals who are expected to tow the Keynesian line and also believe in the primacy of fiat and its reserve currency, the US Dollar.

Jul 28 04:05

Vaccine Execs Rake In $1 Billion In Stock Sales As Positive Headlines Boost Shares

With the race to find a vaccine for COVID-19 in full effect, biotech executives and other insiders from at least 11 companies have made hand over fist - raking in over $1 billion in stock sales after announcing positive developments, according to the New York Times.

Jul 28 04:04

A little sign of “stalling”

Jul 28 04:04

Ron Paul Fears 'Fedcoin': A New Scheme For Tyranny And Poverty

If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed “digital dollar” or “fedcoin.”

Fedcoin was initially included in the first coronavirus spending bill. While the proposal was dropped from the final version of the bill, there is still great interest in fedcoin on Capitol Hill. Some progressives have embraced fedcoin as a way to provide Americans with a “universal basic income.”

Jul 28 04:02

Fed Releases POMO Schedule For Next Two Weeks: Will Buy $9BN In Treasuries And MBS Daily

Now that the Fed's release of POMO is more of a periodic affair than every Friday, moments ago the NY Fed published its latest POMO schedule for both Treasurys and MBS for the next two weeks, covering the period July 28 - August 12.

In line with the recent Fed disclosure that the central bank will purchase about $80 billion in Treasurys monthly, the latest schedule shows an average daily purchase of about $4.5 billion, or $40.2 billion spread over 9 days, identical to the previous two week POMO schedule. For MBS the average daily is nearly identical, at fractionally higher, at $4.7 billion daily, or $51BN spread over 11 days. In total, the Fed will continue to purchase roughly $9 billion in Treasurys and MBS almost every day for the next two weeks.

Here is the latest summary of Treasury POMOS. Of note: the biggest POMO will take place tomorrow and Friday, July 28 and 31, when the Fed will monetize $12.825BN and $8.825BN worth of US debt.

Jul 28 04:02

Dollarpocalypse Sends Gold, Silver, & Crypto Soaring

Jul 28 04:01

When It Comes To Economic Suffering, Some Parts Of The US Are Feeling It Far More Than Others

2020 has been a very tough year for the U.S. as a whole, but some portions of the country have been hit much harder than others. For example, if you live in a rural area that hasn’t seen any civil unrest and that hasn’t been hit very hard by the COVID-19 pandemic, the way that you are living your life now may seem nearly unchanged from the way you were living your life in 2019.

But if you live in an urban area that has experienced endless protests and rioting and that has seen COVID-19 sweep through local neighborhoods like wildfire, your life in 2020 may look radically different from the way it looked in 2019.

Unfortunately, conditions in our largest cities are not likely to improve dramatically any time soon.

Jul 28 03:57

The United States Will Not Recover By Raising Taxes Or Printing Money

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% of U.S. gross domestic product, according to the Committee for a Responsible Federal Budget (CRFB). According to the same estimates, the fiscal 2021 deficit would reach $2.1 trillion in 2021, and average $1.3 trillion through 2025 as the economy recovers from the impact of the forced shutdowns.

Jul 28 03:50

Cold Wars & Profit

The UPA was, without any shadow of a doubt, responsible for the slaughter of at least 200,000 Polish civilians; they liquidated whole Polish communities in Volhynia and Galicia, including the women and children. The current Polish government, which is as anti-Russian and pro-NATO as they come, nevertheless has declared this a genocide.

It certainly was an extremely brutal ethnic cleansing. There is no doubt either that at times between 1942 and 1944 the UPA collaborated with the Nazis and collaborated in the destruction of Jews and Gypsies. It is simplistic to describe the UPA as fascist or an extension of the Nazi regime; at times they fought the Nazis, though they collaborated more often.

Jul 28 03:15

Is stagflation upon us?

Jul 28 02:25

What? Default? Where? Dollar?

Jul 27 20:19

Money Supply Madness in the Euro area

Jul 27 17:45

Millions of Americans ‘hanging by thread’ as aid expires…

"Things have not reopened yet. People are still recovering," -- "We're just hoping that our government doesn't just leave American workers to starve."

Jul 27 15:29

"Selling property to buy more TSLA."

Jul 27 14:49

Why Does It Feel Like We’re In “Life During Wartime”?

This is "life in wartime," where the battles are waged in narratives, confidence and magical thinking! The reality? Foundations are collapsing, but by all means, please keep your eye on the decaying corpses: didn't an eyelid flicker in that one? I could swear that one moved its foot...

Jul 27 14:07

11 Million Evictions Coming over Next Four Months?

Every year, about 2.3 million American renter households receive eviction papers at some point. During the COVID-19 pandemic, we might see that many evictions in one month.

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