BofA Chief Investment Strategist Michael Hartnett has a favorite markets phrase that may be the only one a trader in this day and age needs: “Markets stop panicking when central banks start panicking.”…
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Government Officials Invest in Companies Their Agencies Oversee…
Hidden records show thousands of senior executive branch employees owned stocks in companies whose fates were directly affected by their employers’ actions, a Wall Street Journal investigation found…
Shocking Consumer Credit Numbers: Everyone Maxed Out Their Credit Card As Economy Slid into Recession…
While it is traditionally viewed as a B-grade economic indicator, the August consumer credit report from the Federal Reserve was another shocker especially after last month’s unexpected slow down in credit card debt, which we attributed to the surge in credit card rates…
Nomi Prins’ New Book: “No One Wanted to Call the Fed’s QE a Ponzi Scheme. But It Was.”…
Wall Street veteran Nomi Prins’ new book is being released today with a title that should give every member of the Senate Banking and House Financial Services Committees pause: Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever. The book does what neither of these Committees has done for the American people…
Here Comes the Open Revolt: A Reeling Europe Lashes Out At the Fed for “Bringing Us to a World Recession”…
As a result of the Fed’s relentless tightening blitz, which on November 2 will have hiked rates by 75bps on four occasions in just 96 trading days, the fastest tightening campaign since Volcker, both US capital markets (the S&P 500 is down -24%, for the 4th worst year on record, only 1931, 1974, and 2002 were worse; and 10Y TSYs are down -17% for the worst year on record… 1987 second worse, and bonds were down -10%) and the US economy have been left reeling…
Republican Treasurers Pull $1 Billion from BlackRock over Alleged Anti-Fossil Fuel Policies…
Republican state treasurers are withdrawing $1 billion in assets from BlackRock’s control due to the asset manager’s alleged boycott of the fossil fuel industry, according to the Financial Times…
Transpacific Shipping Drops 75% During Peak Season as Joe Biden Energy Inflation Bites and Consumer Spending Collapses…
The economic data coming in the past week is in alignment with prior forecasts. Bottom line, energy driven inflation has collapsed consumer spending, inventories climbing, vendors are cancelling orders, and this is peak season for transpacific shipping- which has now recorded the most rapid drop in history…
Neil Oliver: ‘By taking back control of the money we can begin regaining control of our world’…
Neil Oliver: ‘Now is the time to take back control of money – Its creation, its value and its flow. By so doing, we can begin the task of regaining control of our world.’…
Saudi Arabia, Russia to Cut from 2M Bpd to 1.05 Million Bpd In November…
Saudi Arabia cuts production for November by 526,000 bpd from its current quota of 11.004bpd….
What You Need to Know About This Lawsuit Against Biden’s $1 Trillion Student Loan Giveaway…
Biden’s loan bailout looks even more like a rushed attempt to buy off student voters prior to November’s midterm elections…
Five Current or Former IRS Employees Charged with Defrauding Federal COVID-19 Relief Programs…
Five current or former IRS employees have been charged with schemes to defraud the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program, federal stimulus programs authorized as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act…
The Expected Financial Crash Is Finally Here…
When two experienced economy and finance analysts, who both correctly predicted the derivative crisis of 2008, again warn of an imminent crash one better listens up…
Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut…
OPEC+ may be considering an even larger cut than previously reported—at up to 2 million bpd, anonymous delegates told media on Tuesday…
Federal Reserve Announces Major ‘Pilot Exercise’ for ESG Social Credit Score…
“Climate finance” is almost identical to that of the Chinese Communist Party’s social credit score system…
Here’s the Chart of the Global Bank Causing Panic in Markets…
The Swiss global bank, Credit Suisse, which is a derivatives counterparty to major Wall Street banks and U.S. insurers, raised alarm bells in markets on Friday and is raising more anxiety this morning. Its 5-year credit default swap (CDS), a measurement of its risk of defaulting on its debt, jumped to 250 basis points on Friday and traded as high as 350 basis points in early morning trade today…
Zelensky Tells Americans How Much Ukraine Receives Monthly by the U.S. Taxpayer…
Ukraine’s President Vladimir Zelensky boasted in a CBS “Face the Nation” interview which aired Sunday that Washington is providing him with a whopping $1.5 billion per month for state coffers as the country piles up a large war-time deficit…
Biden Dangerously Draining Strategic Petroleum Reserve Like ‘Campaign Credit Card,’ Industry Warns…
With crude inventory in the SPR down to its lowest level since Ronald Reagan’s first term, President of the U.S. Oil and Gas Association Tim Stewart said the reserve is being used by Biden to “buy down political risk” ahead of the midterm elections…
States Paid Pandemic Unemployment Benefits to 200,000 Dead People, Federal Audit Finds…
States paid out billions of dollars in pandemic unemployment claims to more than 200,000 applicants whose Social Security numbers indicated they were dead, according to an inspector general’s audit…
Nowhere to Hide: The Fed-Induced Bubble in Stocks and Bonds Is Blowing Up; Even the Typical Safe Havens of Gold and T-Notes Are Losing Money…
The corrupt political backdrop for today’s unprecedented market quagmire feels like a hyperbolic trailer for a low-budget sci-fi thriller: The former president of the only remaining superpower in the world has been charged with “staggering” frauds against banks – the ones he just deregulated as president…
Bonds on Track for Worst Year Since ’49 with No End in Site…
Losses in government bonds at the highest level since 1920s…
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