Bank earnings next week may show deteriorating conditions… Since the Spring bank run, nothing has changed

https://twitter.com/FinanceLancelot/status/1679903651026829346 “In June of this year, many major Texas counties have either reached or surpassed pre-pandemic levels in terms of posting counts and completed foreclosures” The confluence of extremely bullish conditions we saw for housing in 2020-2021? Never happening again …

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Pre-FOMC silent period with 96% chance of July rate hike, peak earnings, and lowest liquidity. This impending global asset meltdown and attendant bailout failure is now at level ’11’ biblical risk.

That's the week. We have now entered the pre-FOMC silent period. 96% probability of July rate hike. Peak earnings. Lowest liquidity period of the entire year. Nothing can go wrong now. pic.twitter.com/TEXdXB3q2w — Mac10 (@SuburbanDrone) July 14, 2023 Anyone who …

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U.S. Economy in a Snapshot Overview of the July 2023 Snapshot: Q1 GDP Growth Slows but Remains Solid, Driven by Consumption, Government Spending, and Net Exports; June Sees Solid Payroll Growth and Slight Drop in Unemployment; Food-at-Home Index 25% Above its 2019 Average.

by Dismal-Jellyfish   https://www.newyorkfed.org/medialibrary/media/research/snapshot/Snapshot_July2023.pdf Overview of the July 2023 Snapshot GDP growth slowed: Q1 GDP was about .5% below what it would been if since Q42019, it grew at a rate close to long-term forecasts. Consumer real spending on services …

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The NATO Crisis Pushing Us into War

by Martin Armstrong   I have been very busy with the whole NATO meeting and questions coming in from important sources. Fortunately, there are some who are looking at our model’s forecast. Nato has stated that while Ukraine can join …

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Biden forgives $39B in Student-Loan Debt

JUST IN – Biden admin forgives $39 billion in student loan debt to more than 800,000 borrowers — Insider Paper (@TheInsiderPaper) July 14, 2023 President Joe Biden’s administration will automatically cancel $39 billion in student debt for more than 800,000 …

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UFOS To Be Declassified

Here it comes, ready or not. BREAKING: I’m introducing new legislation to declassify government records related to unidentified anomalous phenomena and UFOs as an amendment to the NDAA, modeled after the JFK Assassination Records Collection Act.https://t.co/U8pRCDKNty — Chuck Schumer (@SenSchumer) …

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FBI Hit By Community Notes Fact Check

In reference to the false assertions about investigating parents at school board meetings, #FBI Director Wray told the House Judiciary Committee that the Bureau is not in the business of policing speech. Read more here: https://t.co/dZSUPgpAwS pic.twitter.com/7jebphhgIb — FBI (@FBI) …

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Maxine Waters – Social Credit Score Coming

Maxine Waters Claims ‘Everyone’ Has To Get On Board With Woke Investing To ‘Save This Planet’ https://dailycaller.com/2023/07/12/maxine-waters-claims-everyone-get-board-woke-investing-save-planet/ It’s telling that Janet Yellen is pushing for the US to adopt CBDCs, begging Americans to keep up with the Jinpings. No. CBDCs …

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Liquidity Fairy Alert! Bank Term Funding Program usage rose this week ($102.305B vs $101.959B on 7/5), marking the 6th straight week over $100B. It’s looking more and more like there’s an over-reliance on Fed Funding. Could this be a moral hazard?

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program is back on the increase! What we are monitoring: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed light on the recent uptick in borrowing …

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Federal Reserve Alert! Fed Releases Public sections of July 2023 Resolution Plans aka “Living Wills” for: Bank of America, Bank of New York Mellon Corp, Citigroup, Credit Suisse, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street Corp, and Wells Fargo & Co.

by Dismal-Jellyfish Bank of America (PDF) Bank of New York Mellon Corp (PDF) Citigroup (PDF) Credit Suisse (PDF)***** Goldman Sachs (PDF) JPMorgan Chase (PDF) Morgan Stanley (PDF) State Street Corp (PDF) Wells Fargo & Co (PDF) ***** Credit Suisse submitted …

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