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ECONOMY

Oct 21 09:07

You Think Prices Are High Now? Watch This.

Oct 21 08:43

The 2021 Oil Price Rally Is Far From Over

Oct 21 07:05

PIMCO CIO Says Bond Giant Plans To Buy More Crypto As Bitcoin Surges To Record High

As bitcoin prices surge to new record highs while inflows into the new bitcoin ETF (which holds exactly zero actual bitcoin) are going absolutely gangbusters, more institutional players are revealing plans to get involved in crypto trading.

Speaking to a CNBC reporter Wednesday during the TV Channel's "Seeking Alpha" conference, PIMCO CIO Daniel Ivascyn announced that his firm, which has already "dabbled" in crypto, plans to gradually invest more in the nascent asset class, starting with its quant-based and "trend-following" strategies, before moving on to more long-term strategies.

"Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side," Ivascyn said in an interview with CNBC’s Leslie Picker for Delivering Alpha.

Oct 21 07:04

OUR EPIC SUPPLY CHAIN CRISIS JUST HIT ANOTHER LEVEL, AND BIDEN IS CONSIDERING CALLING IN THE NATIONAL GUARD TO HELP

It is the month of October, and right now many Americans are more scared by the state of our national supply chains than by anything else. Some of the things that I am going to share with you in this article are truly frightening, and I would very much encourage you to take them seriously.

Our economic infrastructure is failing on a massive scale, and officials are openly admitting that things will get even worse in the months ahead. We are in uncharted territory because none of us has ever seen anything like this before. If our leaders cannot get this fixed, 2022 is going to be a truly nightmarish year.

Of course just last week Joe Biden gave a big speech in which he assured all of us that he was implementing measures that would soon turn things around.

Oct 21 07:03

Why Do Central Banks Want Higher Inflation?

Why do Central Banks want higher inflation?

The debt ceiling debate in U.S. Congress and related political nonsense brings even more to light the exponential growth in US federal government debt. US government debt has doubled in the 10 years since the last major debacle Congress created over raising the debt ceiling back 2011. The debate and Congress’s unwillingness to increase the limit back in August 2011 resulted in declining equity markets. It also resulted in Standard and Poor’s downgrading U.S. debt to AA+ from AAA!

The Political Standoff

The political standoff over raising this arbitrary restriction of how much debt the US can issue has become just another political lever in the dysfunctional Congress. As Secretary Yellen points out…

Oct 21 07:00

On the Labor Shortage Issue

Oct 21 06:37

Welcome to Clown-World Economics

Oct 21 06:00

Watch: Biden And Dems Continue Hopeless Spending Bill Pitch

Democratic members of Congress trooped to the White House Tuesday in the latest attempt to hammer out an agreement on a multi-trillion dollar social spending bill they are attempting to enact without Republican backing.

Nine members of the far-left House Progressive Caucus emerged from an almost two-hour meeting with President Biden, Vice President Kamala Harris, and Treasury Secretary Janet Yellen speaking hopefully of progress though had few details to point to.

Oct 21 05:51

America's Finest Are Getting Purged While The Worst Of The Worst Are Being Promoted

The vax mandates are nothing more than a way for the regime to purge all remaining "recalcitrants" and complete its transition into an occupation force.

Oct 21 05:29

The Secret Finances of the Vatican Economy

Because the Vatican has published very little over the centuries about its finances and investments, most people don't know how it makes money as a sovereign city-state with its own economy. The Vatican is located within the city of Rome, encompassing 110 acres with a population of under 1,000, which makes it the world’s smallest country.1? While the Vatican may be small in size, it has a large impact in the financial world with its far-reaching investments that include banking, real estate, and private enterprises.

Webmaster's Commentary: 

See The Vatican and pharmaceutical industry and you will understand why the Pope is screaming about censoring Covid "misinformation."

Oct 21 05:21

Is the market ready to tumble?

Oct 21 05:05

Tucker: You're being instructed not to notice this

'Tucker Carlson Tonight' host describes how the country's quality of life in on the decline

Oct 21 05:01

Democrats Cut Spending Package To $1.9 Trillion, Drop Free Community College

President Joe Biden and Democrats continue to negotiate the final price tag of their spending package where both sides believe an agreement can be reached between $1.75 trillion and $1.9 trillion, after removing free community college and curtailing the child tax credit.

The slimmed package will still include priorities such as universal pre-K and an expansion of Medicare. Billions will be allocated to address climate change, but parts of the climate agenda will be scaled back. Paid leave will be cut from 12 weeks to four, and less money will be allocated toward affordable housing than initially envisioned, while eldercare and insurance tax credits remain on the table. The child tax credit would only be extended for one additional year, according to reports.

Oct 21 04:59

This company owns the world (and it's our fault) - BlackRock

Oct 20 11:51

A Global Economic Collapse Scenario

Oct 20 11:24

The UK remains mired in an inflationary burst

Oct 20 10:50

Five U.S. Senators Tell Zuckerberg that Facebook Can’t Be Trusted and to Back Off His Crypto Plans

Today, five Democratic Senators, including the Chair of the Senate Banking Committee, Sherrod Brown, sent a scorching letter to Mark Zuckerberg, Chairman and CEO of Facebook, telling him that Facebook “cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient.” The letter demanded that Zuckerberg back off plans to launch a cryptocurrency and digital wallet.

The letter was authored by Senators Brian Schatz (D-Hawaii), Sherrod Brown (D-Ohio), Richard Blumenthal (D-Connecticut), Elizabeth Warren (D-Massachusetts), and Tina Smith (D-Minnesota).

Oct 20 10:49

The Wall Street Journal and New York Times Censor Yet Another Major News Story on the Fed and the Mega Banks It Supervises

On October 13, Wall Street On Parade broke the story that the Federal Reserve had quietly released the names of the mega banks that had grabbed tens of billions of dollars of repo loans under the Fed’s emergency repo loan operations that began on September 17, 2019 – months before there was a COVID-19 case in the United States or anywhere else in the world.

Oct 20 09:10

Bitcoin Surges To Record High, Dollar Dives As US Economic Outlook Plummets

Today was all about two things - what went up (crypto) and what went down (US economic growth forecasts).

The much-anticipated launch of a Bitcoin (Futures) ETF sent the cryptocurrency to a record closing high (yes we know BTC doesn't "close")...

Oct 20 09:09

Atlanta Fed Says US Economy Suddenly On Verge Of Contraction

At a time when the Wall Street banks are scratching their heads for credible explanations why they are keeping (or raising) their year-end S&P targets at a time when economic growth is in freefall and inflation is soaring (read: stagflation), an unexpected source of honesty has emerged - the Atlanta Fed, which now sees the US on the verge of contraction.

In its latest GDPNow forecast published moments ago, the Atlanta Fed slashed its estimate for real GDP growth in the third quarter of 2021 to just 0.5%, down from 1.2% on October 15, from 6% about two months ago, and down from 14% back in May.

Remarkably, the GDPNow tracker is about to turn negative even as the average "blue chip" Wall Street baank has a Q3 GDP forecast of just below 4%.

Oct 20 09:09

Gold Stocks: Massive Buy Signals In Play

Oct 20 09:09

They Insist Everything Will Be Fine As We Face Shortages Of Chicken, Coffee, Diapers, Fish Sticks, Frozen Meals, Carbonated Drinks...

Officials in Washington continue to assure us that we don’t have anything to be concerned about, but meanwhile the shelves just continue to get even emptier.

On Friday, #BareShelvesBiden was the number one trending topic on Twitter, and I am sure that the Biden administration must have been thrilled by that. Biden insists that he and his team are on top of things, but so far nothing that they have done has worked. In fact, this crisis just seems to keep getting worse and worse. And because we are facing such a “hydra of bottlenecks”, there aren’t going to be any easy solutions…

Oct 20 08:08

Biden Caves to Unions Again, Sabotaging Consumers

From Christmas toys to clothing and auto parts, shortages of imported products are forcing factories to idle, store shelves to sit empty and consumers to panic. What else is in short supply? The truth about what's causing this economic crisis.

President Joe Biden, who brags about running "the most pro-union administration in history," won't admit that longshoremen's unions are holding the nation hostage, refusing to allow the use of automated equipment to unload container ships and get the goods onto trucks faster.

The U.S. is the world's largest importer, but its major ports at Los Angeles and Long Beach, California, rank a dismal 328 and 333, respectively, in the World Bank's Container Port Performance Index. That means nightmare inefficiency worse than most developing countries. Not one U.S. port made it into the top 50 for speed and efficiency. In contrast, Japan's Yokohama port ranks No. 1.

Oct 20 08:08

Labor Activists Hail ‘Striketober’ as Over 100,000 Union Workers Across US Prepare Work Stoppages

A new wave of strikes is unfolding across the United States as many of the socioeconomic trends of the last 18 months come to a head.

Close to 100,000 workers across several industries in the US are either on strike or preparing to go on strike this month, leading to the coining of a new labor hashtag: #striketober. Many are so-called “essential workers,” whose work was deemed necessary during pandemic lockdowns intended to keep the rest of the population safe from COVID-19. Having faced some of the highest death rates and worsening working conditions, many are now fed up and demanding better working conditions.

Oct 20 07:19

‘People Are Hoarding’: Food Shortages Are The Next Supply-Chain Crunch

In Denver, public-school children are facing shortages of milk. In Chicago, a local market is running short of canned goods and boxed items.

But there’s plenty of food. There just isn’t always enough processing and transportation capacity to meet rising demand as the economy revs up.

More than a year and a half after the coronavirus pandemic upended daily life, the supply of basic goods at U.S. grocery stores and restaurants is once again falling victim to intermittent shortages and delays.

“I never imagined that we’d be here in October 2021 talking about supply-chain problems, but it’s a reality,” said Vivek Sankaran, chief executive officer of Albertsons Cos., who echoed the laments of other retailers. “Any given day, you’re going to have something missing in our stores, and it’s across categories.”

Oct 20 06:59

The World Is Transitioning To EVs, But Our Nation's Power Grid May Not Be Ready

While electric vehicles are undoubtedly the future, the question of whether or not our power grid is also ready for the "future" has started to surface. Especially in places like New York.

Power outages and appeals from utilities for customers to cut back on usage have been commonplace - not just in California, but also in places like New York, Texas and Louisiana.

And while the nation stays focused on "the future" of vehicle travel, another bottleneck arises in power generation, a new Washington Post article points out. The grid is going to be "challenged" by the need to deliver power to the cars, the report notes.

Webmaster's Commentary: 

I've been saying this for a while!

Oct 20 06:26

Did Venezuela’s State-Owned Bank Collapse?

Oct 20 06:16

Pandemonium looms for the world as the ‘Everything Shortage’ meets a ‘Dark Winter’ thanks to collapsing global supply chains

A global supply chain crisis is brewing, leading to a full-spectrum shortage of essential items. This is the result of mass centralization, where policies are dictated and synchronized by the aristocrats of the New Normal.

The coming years will be marked by extreme socio-economic turbulence. The world is reportedly facing an “everything shortage” where essential goods are getting harder, farther, and more time-consuming to find. These shortages affect the entire gamut of the social pyramid structure. The typical production to delivery cycle is repeatedly hammered by a macabre musical chair of woes in tune with Murphy’s Law: “Anything that can go wrong will go wrong.”

Oct 20 06:09

Tucker rips Pete Buttigieg for 'spinning' supply chain crisis

Oct 20 06:01

Squid Game-boosted Netflix Pulls In Subscribers

Netflix reported billion-dollar profits and booming subscriber growth Tuesday that beat forecasts as global hits like Squid Game drew viewers in droves.

Analysts had been worried that a surge in Netflix subscriptions during pandemic lockdowns would be followed by a plunge as the world opened back up.

But the streaming entertainment star said that in the third quarter it made a profit of $1.45 billion on revenue that grew 16 percent to $7.5 billion in that period.

Subscribers jumped by 4.4 million, double the growth seen in the same quarter in 2020, allowing the platform to end the period with 214 million worldwide.

Oct 20 06:00

US Homebuilding Falls By 1.6% in September Amid Ongoing Labor, Supply Shortages

Homebuilding in the U.S. fell in September as permits issued to build new homes dropped 1.6%, according to Tuesday's report by the Department of Commerce.

The report found that the number of building permits issued last month fell to 1,589,000, a 7.7% drop from figures posted for August when the number was 1,721,000. The situation was similar for housing starts, which fell by 1.6% to 1,555,000 compared to 1,580,000 in the month before.

Oct 20 06:00

Cryptocurrency News: First Bitcoin ETF Sees Gain In Market Debut

Shares of ProShares Bitcoin Strategy ETF (BITO), the first and long-awaited bitcoin ETF in the U.S., gained over 3% on Tuesday in its trading debut.

The ETF tracks CME bitcoin futures, not the popular cryptocurrency.

As of 1:20 p.m. ET on Tuesday, shares of ProShares Bitcoin Strategy were trading at $41.51, a gain of $1.51, or 3.77%.

Sean Farrell, Fundstrat Global Advisors head of digital asset strategy, told Yahoo! Finance that the ETF could trigger a rally that would see the cryptocurrency reach $168,000.

Oct 20 05:48

Women Quitting Jobs In The Masses-Conservatism Or Laziness?

Over 300,000 women exited the labor force last month, even as the country witnessed tens of thousands of jobs added to the economy. Overall, an analysis from the National Women's Law Center (NWLC) reveals.

According to the analysis, 309,000 women ages 20 and above exited the workforce completely last month. The group called the number the biggest dive in women's labor force participation since September 2020, when over 800,000 women left the workforce.

Oct 19 14:59

Russia chooses not to raise natural gas supplies to Europe despite Putin’s pledge to help

Russia has opted against sending more natural gas supplies to Europe, curbing hopes that Moscow may ease its grip on the market shortly after President Vladimir Putin said the country would be prepared to help.

Highly anticipated auction results on Monday showed Russia’s state gas giant Gazprom had not booked additional gas transit capacity for November either through the Ukrainian pipeline system or lines into western Europe via Poland.

Gazprom booked only 30 million cubic meters per day on the Yamal-Europe route of 86.5 million cubic meters per day available for November, an amount comparable to that booked in September, and has not booked any volumes via Ukraine.

Oct 19 10:03

Bitcoin will skyrocket to $168,000 when futures start trading on Wall Street – Fundstrat

The price of bitcoin could nearly triple when the first crypto exchange-traded fund (ETF) makes its New York Stock Exchange (NYSE) debut on Tuesday, according to analysts at US research consultancy Fundstrat.

The New York-based researchers, who had previously projected the world’s most valuable cryptocurrency to hit $100,000 by the year’s end, now say that the ProShares ETF may attract substantial inflows from investors, thus boosting the price of bitcoin.

According to Fundstrat, the new bitcoin futures ETF will deliver higher first-year inflows than the Invesco QQQ Trust Series 1 fund ETF was able to attract back in 2002 by tracking the Nasdaq 100 index.

“The new bitcoin ETF will enable vastly more individuals to allocate to crypto. We think bitcoin demand will exceed the inflows for QQQ,” Fundstrat Global Advisors co-founder Tom Lee said, as quoted by Yahoo Finance.

Oct 19 09:39

Case IH-New Holland Parent Company Forced to Idle Production in EU Due to Shortage of Semiconductors

From John Deere workers going on strike, to agricultural equipment manufacturers idling manufacturing sites, the supply chain issues are intensifying within agriculture.

CNH Industrial, an Italian-American tractor and vehicle maker, announced this week its temporarily shutting several of its European manufacturing plants that produce agricultural equipment. The idling of plants is also also cutting off production of commercial vehicles and powertrain facilities. CNH manufacturers Case IH, Steyer, New Holland and IVECO equipment.

CNH says it plans to shut down the facilities for eight days this month. The company indicated the shutdowns are driven by getting components to build and construct the machines, including semiconductors.

The supply chain issues are crippling manufacturers. CNH Industrial's CEO Scott Wine called the situation "brutal" during an interview with Farm Journal this month.

Oct 19 09:37

Russia will continue to ditch US dollar in economy & trade – official

The Russian government is planning to continue its established policy of eliminating the share of US currency in the country’s economy, according to Deputy Minister of Foreign Affairs Alexander Pankin.

According to the minister, all transactions processed via the US financial system can be blocked by Washington at its discretion, while the threat of anti-Russian sanctions is still relevant.

“Thus, there is no doubt about the expediency of continuing to work on further reducing the share of the dollar in national and international reserves, as well as its use in settlements with foreign partners,” he said, as quoted by Interfax.

Oct 19 09:25

States Spent At Least $90 Million on Vaccine Lotteries. Studies Show They Accomplished Nothing

By Brad Polumbo

Government bureaucrats aren’t exactly known for spending taxpayer money wisely. Sadly, the pandemic has proven no exception—with new studies showing that local governments wasted millions on vaccine lotteries that accomplished…nothing.

For example, Ohio implemented a “Vax-a-Million” initiative where it drew weekly lotteries for a $1 million prize among those who got the vaccine. Similar programs have cropped up around the country, such as “VaxCash” in Maryland and “Vax and Scratch” in New York. In all, states spent at least $90 million, likely more, Business Insider reports, on these kinds of vaccine lottery efforts.

Given the significant sums involved, it’s worth questioning: Did these pro-vaccine government initiatives actually accomplish their goals?...

Oct 19 08:41

World Economic Forum to Launch “Great Narrative” Initiative Following the Great Reset

By Tim Hinchliffe

The World Economic Forum (WEF) is looking to establish a “great narrative” following the great reset agenda with the upcoming launch of the “Great Narrative” initiative.

In establishing a great narrative, the WEF is looking to assert an authoritative storyline to convince people why they need a great reset of society and the global economy.

“The Great Narrative initiative and Meeting in Dubai will be a powerful catalyst to shape the contours of a more prosperous and inclusive future for humanity that is also more respectful of nature” — Klaus Schwab, 2021

Never letting a good crisis go to waste, the Davos globalists are exploiting the pandemic once again — this time to legitimize their agenda of a great reset of society and the global economy by calling for a “great narrative” that can “help guide the creation a more resilient, inclusive and sustainable vision for our collective future.”...

Oct 19 08:24

When a Train Wreck Is No Accident

Oct 19 07:33

'Brown recovery' wipes out hopes that pandemic stimulus would drive climate spending

Governments in rich countries pledged last year to spend trillions of dollars to rescue their economies from the trough of the pandemic — and to channel that gusher of cash in ways that would aid the fight against climate change.

The climate change strategy largely failed.

More than 18 months later, mounting evidence shows that the spending did little to alter the trajectory that has the planet on a path toward blowing through global emissions targets. In fact, much of the stimulus spending was directed toward a “brown” recovery that pumped money into polluting industries and energy sources like coal, oil and natural gas. Nations unleashed their spending in a way that was open to all sectors, helping their incumbent industries rather than funding the promised transformation to a clean economy.

Oct 19 07:00

Israel, Morocco seal agreement on hydrocarbon exploration in Dakhla

The Moroccan National Office of Hydrocarbons and Mines (ONHYM) and the Israeli Company Ratio Petroleum have just signed an agreement on the exploration of the Atlantic block of the occupied city of Dakhla, in violation of international law.

Oct 19 06:59

Dark Winter... Financial Crisis?

Oct 19 06:53

Conspiracy Or Incompetence? Why Fossil Fuels Are Flying

U.S. coal use is on track to jump 23 percent this year, for the first time since 2013. European utilities are switching from gas to coal because of the former’s soaring prices. And Brent crude just passed $84 per barrel.

At the helm in Washington is Joe Biden, a president who came into office with a pledge to reduce American energy dependence on fossil fuels. At the helm in the EU are people equally dedicated to phasing out oil, gas, and coal, and replace them with low-carbon alternatives. Yet, it seems fossil fuels have been the only winners from their energy transition efforts.

Oct 19 06:27

Important Turning Point in the Metals

Oct 19 06:20

Jesse Watters reveals what's really in Biden's massive spending plan

Oct 19 05:42

White House Still Pushing 'Free' Biden Agenda

President Biden is sticking by his claim that his Build Back Better agenda will cost the average American taxpayer absolutely nothing.

"The cost of the Build Back Better Agenda is $0," the White House tweeted Sunday.

"The President's plan won't add to our national deficit and no one making under $400,000 per year will see their taxes go up a single penny," the declaration read. "It's fully paid for by ensuring big corporations and the very wealthy pay their fair share."

Webmaster's Commentary: 

Oct 18 13:21

Goodbye Middle Class: 50 Percent Of All U.S. Workers Made $34,612.04 Or Less Last Year

If we keep going down this path, soon we won’t have much of a “middle class” at all.  When I first started writing about the economy many years ago, I often wrote about the tens of millions of “working poor” Americans that were enduring so many hardships.  But at this point most of the nation now falls into the “working poor” category.  That isn’t because wages haven’t been going up.  Little by little, wages have been incrementally rising year after year, but meanwhile the cost of living has been absolutely soaring.  Paychecks have not even come close to keeping up with inflation, and this has been eviscerating the middle class.  Today, the majority of the country is in constant “survival mode” financially, and that isn’t going to change any time soon.

Oct 18 13:12

They Insist Everything Will Be Fine As We Face Shortages Of Chicken, Coffee, Diapers, Fish Sticks, Frozen Meals, Carbonated Drinks, Etc.

Officials in Washington continue to assure us that we don’t have anything to be concerned about, but meanwhile the shelves just continue to get even emptier.  On Friday, #BareShelvesBiden was the number one trending topic on Twitter, and I am sure that the Biden administration must have been thrilled by that.  Biden insists that he and his team are on top of things, but so far nothing that they have done has worked.  In fact, this crisis just seems to keep getting worse and worse.  And because we are facing such a “hydra of bottlenecks”, there aren’t going to be any easy solutions…

Oct 18 11:54

Pandemonium Looms as “Everything Shortage” meets “Dark Winter”

By Dr. Mathew Maavak

A global supply chain crisis is brewing, leading to a full-spectrum shortage of essential items. This is the result of mass centralization, where policies are dictated and synchronized by the aristocrats of the New Normal. The coming years will be marked by extreme socioeconomic turbulence.

The world is reportedly facing an “everything shortage” where essential goods are getting harder, farther, and more time-consuming to find. These shortages affect the entire gamut of the social pyramid structure. The typical production to delivery cycle is repeatedly hammered by a macabre musical chair of woes in tune with Murphy’s Law: “Anything that can go wrong will go wrong.”...

All the Black Swans, bred specifically for the Great Reset, are coming home to roost...

Oct 18 11:06

Stagflation is Here

Oct 18 10:37

Jerome Powell Sold More Than a Million Dollars of Stock as the Market Was Tanking

Federal Reserve Chairman Jerome Powell sold between $1 million and $5 million worth of stock from his personal account on October 1, 2020, according to disclosure forms reviewed by the Prospect. Powell’s sale of shares from a Vanguard Total Stock Market Index Fund has not been previously reported. This sale occurred right before the Dow Jones Industrial Average suffered a significant drop.

A Fed media relations spokesperson was not available for comment. We will report on any Fed statement on Powell’s trades.

Three other senior Fed officials have faced serious criticism for making stock trades during the pandemic. Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren were compelled to take early retirements as a result of the disclosure of their trades. Fed Vice Chair Richard Clarida also came under fire for stock trading. The other trades are now the subject of investigations by the Fed’s own inspector general and the SEC.

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