Independent thinking for complex markets and current events
via mises: The Federal Reserve has officially reported a loss of $57 billion for the first six months of 2023. Quite a number! So the “Federal Reserve Banks Combined Quarterly Financial Report as of June 30, 2023” (CQFR)—a little-known document—is especially notable for its red ink. We can anticipate an annual loss of over $100 billion for …
by confoundedinterest17 I ain’t never been to Spain, but the US under Biden is like Spain in terms of default risk. Actually, I have to Spain numerous times and love visiting Barcelona. But the US debt fiasco under Biden and Congressional spending sprees has led to … US credit default swap being priced worse than Spain’s …
by confoundedinterest17 Bidenomics is a train wreck. But unlike E. Palestine Ohio, the site of a train derailment and massive toxic spill (for which Biden has yet to visit), Bidenomics is a continuing train wreck. The first chart is the record decline in US net cash farm income. Now in negative growth! Second, US office …
US debt-service costs are now at their highest since 2009 as rates soar. Over the next year, this will continue to rise as US debt is refinanced at higher rates. Yet another sign that $4 trillion in "free stimulus" is not really free. There's no such thing as free money. pic.twitter.com/NQxC2VozHO — The Kobeissi Letter …
Republicans say billions of taxpayer dollars have been wasted based on unused federal office space and employees taking advantage of the White House’s liberal work from home policies. Damning reports reveal government employees have been in meetings while taking bubble baths, still got paid while on the golf course and attended happy hours while on …
COLUMBUS, Ohio (WSYX) — Ohio’s junior Sen. JD Vance (R) announced on Tuesday he would introduce the “Freedom to Breathe Act,” which he says would prevent the imposition of federal mask mandates in the U.S. Vance’s office said the act would apply through the end of 2024 and would prohibit any federal official from issuing …
The federal deficit is expected to nearly double this year, from about $1 trillion last year to $2 trillion for the fiscal year ending Sept. 30 Why it matters: There’s no precedent for deficits this large, as a share of the economy — outside war, deep recession or pandemic. The WashPost’s Jeff Stein reported Sunday on the stunning projected figure from the …
by 2201992 Biden has requested 12 billion. Any aid package is required to start in congress. Specifically the House of Representatives which is controlled by Republicans. Kevin will need to call for a vote on a bill for Hawaii. Email and call your reps to get their asses working on an aid package. Ukraine has …
by welp007 It comes with zero risk to the banks, while US taxpayers are 100% on the hook for their bad bets. It’s questionable use has exponentially risen in the past year. Soaring use of the FHLB slush fund. I did a recent video on the FHLB's. Founded to support mortgages, now they just bail …
by confoundedinterest17 All aboard the Bidenomics Crazy Train! Let’s see. We have inflation that is eroding wage growth so that REAL wage growth is negative. Meanwhile, the Biden Administration and Congress are spending like they can print infinite amounts of cash with no consequences. The result? The Federal government is paying nearly $1 trillion in …
by mark000 And projection for 2023 is another $1.5 Trillion. The current “USA economy strong” story is bullshit. It’s totally dependent on ongoing massive govt stimmy life support.
by DesmondMilesDant Only a few months left before this thing blows up. This chart shows the total loan assets funded by FHLB at $348,731,000. This is in contrast to Schwab’s current available assets at $325,993,000. To put context to how critical the situation is for Schwab, the only bank overextended to this degree was …
A federal judge has ruled that art that was wholly created by artificial intelligence technology is not protected by copyright law — a decision that could have far-reaching implications for Hollywood as studios continue to adopt AI as a creative tool. https://t.co/nQ49Vk4xZL — Breitbart News (@BreitbartNews) August 21, 2023
by confoundedinterest17 Hellzapoppin under Bidenomics! And it isn’t a musical, but a tragedy. Between The Federal Reserve’s outrageous overreaction to Covid (printing like there was no tomorrow), and Biden’s massive spending spree (lots of moldy (green) spending, we have see horrid inflation. And The Fed trying (sort of) to combat inflation, we see that 30-year CONFORMING …
Appeals Court Strikes Down Jan 6 Sentence In Ruling That Could Affect Hundreds Of Cases James Little of North Carolina was sentenced to both prison and probation in connection with a misdemeanor parading offense. Little, who walked around in the Capitol Building on January 6 but did not engage in any violence, was sentenced to …
Beginning this week, 804,000 federal student loan borrowers received emails from their servicers with the subject line “Your student loans have been forgiven.” The notices came as part of the Biden admin’s previously announced efforts to cancel debt for qualifying borrowers. Beginning this week, 804,000 federal student loan borrowers received emails from their servicers with the …
PHOENIX (3TV/CBS 5) – An agent with the Internal Revenue Service (IRS) is dead after being accidentally shot by another IRS agent during a training exercise Thursday at a federal gun range in Phoenix, multiple sources tell Arizona’s Family. A spokesperson for the Federal Bureau of Prisons confirms that an incident occurred Thursday at their …
by Chris Black I mean, this is completely normal for San Fran: In a utopia, everything is perfect, and it is nothing but endless happiness. However, in such a utopia, you may want to be careful on the way to work. In fact, you’d better just… never leave your home.
by confoundedinterest17 Well, its now August 2023 and US Industrial Production for July increased … to 2007 levels. This comes after the massive spending out of Washington DC and massive Federal Rerserve stimulus. Is that all there is?? US Industrial Production is DOWN -0.23% YoY while up slightly in MoM terms. As I said a …
by Dismal-Jellyfish Source: https://www.federalreserve.gov/monetarypolicy/fomcminutes20230726.htm Developments in Financial Markets and Open Market Operations: The manager turned first to a review of developments in financial markets over the intermeeting period. Market participants interpreted data releases as generally demonstrating economic resilience and a further easing of inflation pressures. The market-implied peak for the federal funds rate rose in response …
By Ron Paul, for Birch Gold Group I’ve long been critical of the Federal Reserve – in fact, I wrote a book called End the Fed way back in 2009. My position on the Fed’s failings have been clear for a long, long time. Even so, the Fed’s failure to properly manage price stability has rarely been more clear than …
Former White House Chief of Staff Mark Meadows officially filed Tuesday to move the case brought against him by Fulton County District Attorney Fani Willis into federal court, just a day after he was indicted along with former President Donald Trump and 17 others on charges of attempting to overturn Trump’s election loss in the …
by confoundedinterest17 Inflation is a killer to the middle class and low-wage worker. Yet there are always apologists for terrible Federal spending and Federal Reserve monetary policies. Like Alex Bereson with his “How we stopped inflation without a recession (hint: by not stopping inflation).” Before I look at Berenson’s plea for more inflation, let’s see where …
by AdMaleficent2789 Goldman Sachs expects core inflation to fall enough for the Federal Reserve to start cutting rates in Q2 2024, but economists leave the door open for a higher-for-longer scenario. By Q2, “we expect core PCE inflation to have fallen below 3% on a year-on-year basis and below 2.5% on a monthly annualized basis, and …
by Dismal-Jellyfish Source: https://www.reuters.com/article/idUSL6N39V0EO Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to make than $100 million in political campaign contributions before the 2022 U.S. midterm elections, federal prosecutors said on Monday. An amended indictment accused the 31-year-old former billionaire of directing two FTX executives to evade contribution limits by donating …
Kash Patel Any conviction in Fulton County case against Trump will be thrown out in Federal appeals court.pic.twitter.com/rJc9qsG5Hk — Citizen Free Press (@CitizenFreePres) August 15, 2023 Trump Breaking — 41 count RICO indictment unsealed in Georgia. List of all 13 felonies against Trump. 19 defendants charged. Indictment lists 4 ‘major areas of criminality’…
by confoundedinterest17 Yes, there is a Dark Side to Federal stimulus! And it isn’t Dark Side of the Moon, but the dark side of who benefits from Federal stimulus. Its all about money. Example? Take Checkable Deposits of the to 1% (blue line) of wealth compared to the bottom 50% of wealth (red line) after The Fed …
Retired federal judge J. Michael Luttig said Wednesday on “CNN This Morning” that “American democracy” was in grave peril because there is no Republican Party. Anchor Poppy Harlow asked, “Judge, you told our colleague after the latest indictment came down last week, these are as grave offenses against the United States as a president could …
https://t.co/PdGrwxyHOu — Stephen Miller (@StephenM) August 8, 2023
