RINO Rep. Ken Buck to Retire NEXT WEEK, Leaving Republicans with Razor-Thin Majority – Speaker Johnson Shocked

GOP Rep. Ken Buck will retire from Congress next week leaving Republicans with a razor-thin majority. Following the resignation of Kevin McCarthy, Bill Johnson, Ken Buck and the ousting of George Santos, the Republicans will be left with a razor-thin majority of 218-213. Last November RINO Rep. Buck from Colorado’s 4th congressional district said he …

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Breaking — No Labels to announce third party presidential candidate next week. Speculation grows, is it Sinema.

DES MOINES, Iowa (AP) — The third-party presidential movement No Labels decided Friday to field a presidential candidate in the 2024 election after months of weighing the launch of a so-called “unity ticket” and discussions with several prospects. Delegates voted in favor of moving forward during an online convention of 800 of them from every state, said Mike …

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Two Billionaire’s kids died suddenly during a week, Angela Chao drowned, Son of YouTube/Google Founder Susan Wojcicki , found dead in dorm

The family of a 19-year-old UC Berkeley freshman is mourning his death after he was found unresponsive in a college dorm, possibly due to a drug overdose. Marco Troper, who was in his second semester at the university, died Tuesday, his grandmother Esther Wojcicki posted on social media. Troper, a math major, was the son …

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Microsoft, Apple, Facebook, Amazon, Google all report earnings this week. Stocks close at new record high.

The S&P 500 rose Monday and closed at a fresh record high as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision. The benchmark index climbed 0.76% to 4,927.93, topping its highest ever close of 4,894.16, reached Jan. 25. The Dow Jones Industrial Average added 224.02 points, or …

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Next big snowstorm is coming this week.

The next winter storm is already on the move and is expected to bring heavy snow, blizzard conditions, strong winds, potential tornadoes and serious flooding as it carves a path from the Southwest to the Northeast through midweek. Snow is still falling from the first big winter storm of the season. It dumped more than …

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Banks filed to close 30 branch last week, according to new data

American banks filed to close 30 branches last week leaving yet more households without access to basic financial services. Wells Fargo shuttered twelve locations while Bank of America axed five, according to a weekly bulletin published by regulator the Office of Comtroller of the Currency. Meanwhile Citizens Bank shut down four branches between December 3 …

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Biden’s Brawndo (The Economic Mutilator)! Fed Paid Treasury $76 Billion In 2022, $200 Million Every Day, Bank Willingness To Lend Crashes, Bank Credit Falls For 16th Straight Week, Biden Enacts War Powers To Get Households To Use Inefficent Electric Heat Pumps

by confoundedinterest17 Biden’s terrible economic policies and horrid fiscal managment has put stress on The Federal Reserve. The Federal Reserve paid an estimated $76 billion to the Treasury in 2022 while banks’ willingness to lend has plummeted. First, let’s look at Biden’s and The Fed’s Brawndo. One of the key ways central banks absorb liquidity back out of …

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Retail earnings begin this week. ‘It’s getting worse,’ an analyst says.

Lower-income consumers have been hit harder by rising prices for basics. And those higher prices overall have made customers more selective when they spend on things they want rather than things they need. Higher energy prices and borrowing costs, as well as stricter credit conditions and the return of student-loan payments, have also posed threats …

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Back In Red! C&I Loan Lending Standards Tightening To Recession Era Levels (Bank Credit Growth Remains Negative For Twelve Straight Week)

by confoundedinterest17 Back in red? As US fiscal policy deteriorates further thanks to endless Federal spending (not to mention seemingly endless wars under Biden and Nobel Peace Prize winner Obama), we are seeing pain in the bank lending business. Commercial and industrial (C&I) loan lending standards is tightening (blue line) to levels typically seen in recessions. …

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Putin Says Ukraine Wouldn’t Last a Week Without U.S. Aid

by Chris Black No lies detected here. Russia is fighting NATO, not the Ukraine, and it’s winning. That should be concerning for the powers that be. American charity isn’t going to last indefinitely. Political support for the war is plummeting. The only way to save Ukraine is to find a way for NATO to get …

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Social justice activist stabbed and killed on video…2nd killed this week!

For the second time in a week, a left-wing activist has been murdered in a major US city, where soft-on-crime Democrat policies have resulted in record crime. On Monday, social justice advocate Ryan Carson was stabbed in the Crown Heights neighborhood of New York City. https://twitter.com/_/status/1709314963284615295 https://www.zerohedge.com/political/graphic-fatal-nyc-stabbing-left-wing-activist-caught-cctv Police released a picture of the youth who …

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Last week, the Fed’s balance sheet plunged by almost $75BN last week, its biggest weekly drop since July 2020.

A total bloodbath in Treasury notes, bonds, and mortgage-back securities again: Here is a reminder that these instruments account for over 80% of the Federal Reserve's balance sheet. If they were to be reevaluated using a mark-to-market methodology, the Fed's assets could be… pic.twitter.com/x0YNQez2iJ — Otavio (Tavi) Costa (@TaviCosta) September 25, 2023 That doesn’t change …

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Mortgage Applications Increased 5.4% Last Week, But Purchase Demand Still Down -26% YoY And Refi Demand Down -29% YoY (Despite Mortgage Rate Rising To 7.31%)

by confoundedinterest17 Mortgage applications increased last week, despite the 30-year fixed rate edging back up to 7.31 percent – its highest level in four weeks. Mortgage applications increased 5.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 15, 2023. Last …

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LOL! UAW Union Rejects 21% Pay Hike, Demands 4 Day Work Week. A 32-hour workweek for 40 hours of pay, plus overtime. Sure. Why not?

Our car companies stopped being private enterprises during the Obama administration. These days they’re burning through billions of dollars following the government plan for replacing cars with EVs. The UAW is in the driver’s seat because it elects the politicians who give car companies their marching orders. After turning down a mere 21% pay hike, …

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Liquidity Fairy Alert! It just keeps going up! Bank Term Funding Program usage above $100B for the 15th consecutive week! ($107.993B vs $107.855B 9/6). An over reliance on central bank funding, the BTFP is a moral hazard! As of 8/31/23, $2,173,066,000 in interest to survive another day.

by Dismal-Jellyfish Borrowing from the Bank Term Funding Program hit a NEW all time high–the 15th consecutive week above $100 billion! What we are reviewing: Bank Term Funding Program (BTFP) Discount Window/Primary Credit “Other Credit Extensions” I hope to shed light on the recent uptick in borrowing due to an attempt to offset the initial …

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Bidenomics At Work! US Purchase Mortgage Demand Decreased 0.3% Since Last Week, Down -27% Since Last Year (Mortgage Rate UP 157% Under Biden)

by confoundedinterest17 I wonder if Biden will use his writeboard to brag about the 30-year mortgage rate rising 157% under his economic Reign on Error? Aka, Bidenomics. Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 25, …

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All of This Happened in China This Week

by Chris Black Stimulus (https://archive.is/Gx9ok).  China’s Central Bank surprised investors with the steepest cut rate cut since COVID, as July delivered another month of disappointing economic numbers. The grim market reaction suggests Beijing must take bolder steps to ease worries. Cutting Targets (https://archive.is/l0Pzu).  At least five investment banks cut their projections for China’s economic growth …

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Unusual complacency in global RISK OFF event. Powell likely to finish off China this week. Chinese Bubble bursting may trigger global bubbles.

We've never seen this before. A buffoonish level of complacency in a global RISK OFF event. pic.twitter.com/GgJPZWs1fP — Mac10 (@SuburbanDrone) August 19, 2023 There is a high probability that Powell will finish off China this week. And then U.S. gamblers will wish they had a map with more than one country on it. pic.twitter.com/90cy9Cz38j — …

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FBI Murders 3rd Trumper for the Week in Pre-dawn Raid

by Chris Black 3 predawn raids this week in Albuquerque, NM; Henderson, TN; and, Provo, UT. Now 3 people are all dead because they thought they could talk shit about Biden (pro-tip, you can’t the FBI will kill you). The federal government doesn’t even hide it any more. They’ll ruby ridge you for saying mean …

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Biden’s Mortgage Market! Mortgage Demand Falls -3.1% Since Last Week, Purchase Demand Falls -3% And Down -27% Since Last Year

by confoundedinterest17 The US mortgage market is livin’ la vida Biden! And for the US mortgage market, la vida Biden in ugly. Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2023. The Market Composite Index, a measure …

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Bear markets often have strong opens and weak closes, as seen last week; Leading economic indicators point to a rapidly deteriorating economy

I will reserve judgement on today's strong open until we see the close. Because that's what happens in bear markets – strong opens, weak closes. What we saw all last week. But really, what could go wrong? pic.twitter.com/PnEtb0MYXR — Mac10 (@SuburbanDrone) August 7, 2023 Big divergence between S&P 500 industrials and leading economic indicators The …

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