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Biden Administration Quietly Raised Amount of Ethanol Required in Summer Blend Gasoline from Ten Percent to Fifteen, Three Predictable Problems Will Surface Soon…

Last Friday the Biden administration raised the mandatory amount of biofuel, specifically ethanol, that must be blended within the U.S. gasoline supply. The previous amount of 10% (summer blend) was raised to a year-round 15% (waiver) by the Environmental Protection Agency (EPA). This is likely to lead to two sets of bigger issues, less food and higher gas prices…

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Domestic Crude Oil Peaked at $145 a Barrel in 2008. It Closed Yesterday at $118.50. So Why Is Gas at the Pump at All-Time Highs?…

The owner of Schlafer’s Auto Body & Repair in Mendocino, California has made headlines at CNN, the Los Angeles Times, and across local TV affiliates in the past few days – and not in a good way. Schlafer’s is home to an independent Chevron gas station and, as of this weekend, it was charging the highest price for a gallon of regular gas in the nation: $9.60…

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Fed Data Shows a Half Century of Moderate Growth in the Fed’s Balance Sheet through Two World Wars – Then a Seismic Explosion Under Bernanke, Yellen and Powell…

Last month the Federal Reserve Bank of New York released its 2021 annual report from its “Markets Group.” That’s the group that operates a trading floor (complete with speed dials to the trading houses on Wall Street) at the New York Fed, located not far from the New York Stock Exchange, as well as another trading floor on the premises of the Chicago Fed, which is not far from the futures exchanges in Chicago…

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Tech Layoffs Top 15k in a Brutal May…

It’s been a rough month in the tech sector. We’ve rounded up week after week of layoffs, and according to aggregator layoffs.fyi, more than 15,000 tech workers have lost their jobs this month. Hopefully the sun will come out in June…

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Inflationary Pressure Is Worse Than They Say…

We are apparently back in the spend-your-way-to-prosperity mode. Last week Wall Street greeted the “strong” April PCE number with a spree of dip-buying, but you have to wonder just how long households can keep reaching into their cookie jars in order to spend what they are not earning…

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Ed Dowd Explains the Four Converging Forces That Will Destroy the Economy (VIDEO)…

1.) Deflation of assets
2.) Out of control inflation
3.) Supply chain breakdowns
4.) Green New Deal policies that fail to address pressing issues.
Ed Dowd: “The Fed will say they’re fighting inflation and maybe raise [interest rates] one or two more times, but they’re making a huge policy error, and they can’t raise rates; they’re trapped. And that’s why a new monetary system is coming, and this is all smoke and mirrors, and there’s going to be all sorts of explanations as to why the economy is collapsing.”…

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Americans Have Lost $20 Trillion Since the Start of 2022 Americans Have Lost $20 Trillion Since the Start of 2022…

Citing estimates from JPMorgan, over the weekend Bloomberg wrote that courtesy of a Biden administration terrified of what soaring inflation will mean for the Democrats in the midterms, and a Fed that is determine to do anything – even crash the market and spark a recession – to do Joe Biden’s “kill inflation” bidding, the US faces a new scary threat: a plunge in wealth which JPM estimates at least $5 trillion, and could reach $9 trillion by year-end…

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Supply Chains Are Never Returning to ‘Normal’…

The conventional wisdom at this time is that most of the world has moved on from the pandemic (except for China); therefore, supply chains will return to “normal.” Unfortunately, this is not the case. The world has permanently changed and supply chains are going to face continuing challenges for decades to come…

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Stocks and Bond Yields Crater As the ‘American Consumer Is Strong’ Narrative Implodes

While most blinkered investors ignored last week’s record surge in revolving consumer credit (i.e. credit card spending), this week’s Walmart and Target earnings brought it home to the rest of the country that the “American consumer is strong” or “consumer has best balance sheet ever” narrative imploded, crashing on the shores of a gigantically lopsided and divided national aggregate that hides the reality that most of America is unable to pay the ‘cost of living’ under Bidenomics 40-year-high inflation without resorting to the plastic…

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