Nonunion workers make up nearly 90 percent of the US workforce. President Joe Biden is giving them the shaft. The massive $3.5 trillion budget bill Biden and Democratic lawmakers are trying to ram through Congress discriminates against nonunion workers, even forcing some of them to pay higher taxes than coworkers who joined the union…
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House Democrats Quietly Insert a Ten-Fold Increase in OSHA Violations into 3.5 Trillion Human Infrastructure Reconciliation Bill…
Nancy Pelosi and the House Democrats are attempting to change the OSHA fines within the section of labor law that applies directly to the mandatory COVID vaccine. The scale of the fines is massive against any business that does not comply with the anticipated OSHA rule which is yet unannounced; and they are attempting to slip the OSHA change into the massive $3.5 trillion infrastructure bill…
Robert Kaplan Was Trading Like a Hedge Fund Kingpin for Five Years while President of the Dallas Fed; a Dozen Legal Safeguards Failed to Stop Him…
Dallas Fed President, Robert Kaplan, wasn’t just trading like an aggressive hedge fund kingpin in 2020, he’s been doing the same thing for five years at the Dallas Fed while simultaneously having access to non-public, market moving information from the Federal Reserve’s interest-rate setting FOMC meetings and other confidential communications…
When It Comes to Frauds, Wells Fargo Is on the Bunny Slope Watching JPMorgan Hop Moguls on the Black Diamond Trail…
There was a strange occurrence at Fed Chairman Jerome Powell’s press conference yesterday. Hannah Lang, a reporter for American Banker, asked Powell a question about Wells Fargo. Powell read his answer directly from a script in a binder he had on the podium…
Senate Parliamentarian Says $3.5 Trillion Bill Can’t Include Citizenship Path for Illegal Immigrants…
Big blow for Biden, congressional Democrats…
And Another: Shanghai-Based Property Developer Crashes 87% in Minutes Before It Was Halted…
It’s not just Evergrande that is about to keel over. Overnight, one of its smaller peers, Shanghai-based Sinic Holdings Group which focuses on the development of residential and commercial properties in China, was halted trading after it shares cratered in a freak 87% plunge on Monday afternoon. The plunge slashed the market value to just under $230 million, which is laughable for a listed developer in the city…
Goldman Issues a Dire Warning on China’s Property Sector…
No matter how the Evergrande drama plays out, whether it culminates with an uncontrolled, chaotic default and/or liquidation which sparks a crash in real estate values, or with Beijing blinking and bailing out the core pillar of China’s housing market, remember that Evergrande is just a symptom of the trends that have whipsawed China’s property market in the past year, which has seen significant contraction as a result of Beijing policies seeking to tighten financial conditions as part of Xi’s new “common prosperity” drive which among other things, seeks to make housing much more affordable to everyone, not just the richest…
China Braces for “Nightmare Scenario” As Evergrande Offers Broke Investors Discounted Apartments…
Up until now the collapse of China’s Evergrande was very much a slow motion affair, captured perhaps best by Forte Securities trader Keith Temperton who said that “the Asian banks will get hit hard if there’s a default, but then there will be a 10-year recovery process…
Kroger CFO Notes More and Faster Food Inflation Coming in Next Several Months…
This is not a surprise data-point for readers here. However, it is good to see honest statements from corporate executives on what to expect with food inflation…
Lara Logan Notes the OSHA Shift in Record Keeping That Preceded Emporer Biden’s Use of the Agency for Vaccine Enforcement…
Lara Logan notes how Joe Biden is using the Occupational Safety and Health Administration (OSHA) as the compliance mechanism to enforce mandatory COVID vaccination as a requirement for continued employment; and contrasts Biden’s announcement against the earlier press release from OSHA in May of this year…
Emperor Biden’s Vaccine Mandate Is an Attack on the Working Poor…
Presidentish Joe Biden’s dictatorial vaccine mandate executive order will mostly hurt those who can least afford it, at least if the actual numbers are anything to go by…
August Producer Price Inflation Shows Highest Increase 8.3% Since Tracking Began, Previous Record Was Last Month…
The Bureau of Labor and Statistics (BLS) released the August review [DATA HERE] of producer prices for last month. August rose 0.7% with cumulative results now showing an 8.3% increase in prices; the largest year-over-year jump in prices for final demand products in the history of tracking. The prior record was July with 7.8%…
Brace For Buyback Tsunami Following Record Flood Of Corporate Bond Issuance…
While traders were focused on today’s ECB meeting and the (spectacular) 30Y auction which initially pushed yields higher on supply concerns only to see them slide right back down after the huge buyside demand for ultra-long dated paper, the real action was in corporate bond land where the last few days have seen an unprecedented borrowing binge…
Big Miss, August Labor Report Shows Gains of Only 235,000 Jobs, Missing Expectations by More Than 500,000…
The Bureau of Labor Statistics has released the August jobs report [Data Link Here] showing only 235,000 jobs created in August. Economists and financial analysts were predicting 750,000+…
Banking Giant UBS Bucks Vax-or-Ax Sweeping U.S. and Will Allow Worker Who Are Choosing Not to Get Vaccinated to Work from Home…
UBS bank will allow more than 25,000 U.S. workers to work from home if they decided not to get vaccinated against COVID-19…The move comes as major employers in the U.S. impose their own vaccine mandates for workers to be vaccinated by September and October…Goldman Sachs, Morgan Stanley and Citigroup have said the vaccine would be mandatory for all U.S. employees…
SLIPPERY SLOPE, Delta Airlines Will Fine Non-Vaccinated Employees $200 Per Month For Non Compliance With Corporate Demands…
Comrade citizens, in the first in nation development, Delta Airlines Corporation has announced it will begin fining non-vaccinated employees $200/month for refusing to take the COVID-19 vaccine…
Feds: Netflix Employees Made Millions from Insider Trading Ring…
The U.S. Securities and Exchange Commission (SEC) has charged three former Netflix software engineers with running an insider trading ring that generated $3 million in profits…
U.S. Treasury Freezes Billions in Afghan Reserves, Depriving Taliban of Cash…
After handing the Taliban US-supplied military hardware on a silver platter thanks to the botched Afghanistan withdrawal, the Biden administration scrambled to deprive the terrorist organization of funding – freezing Afghan government reserves held in US bank accounts, and blocking the Taliban from accessing billions of dollars held in US institutions, according to the Washington Post, citing two people familiar with the matter…
Kyle Bass: China to ‘Move in Under Security and Diplomatic Guise’ to Pilfer Afghanistan’s Trillions in Minerals…
Kyle Bass is warning that China – which announced it was ready to deepen “friendly and cooperative” relations with the Taliban mere hours after they toppled the Afghan government – is going to “move in under security and diplomatic guise” to pilfer Afghanistan’s trillions in mineral deposits…
Producer Price Index Records Highest Inflation Rate in History Since Tracking Began…
The “producer price index” is essentially the tracking of wholesale prices at three stages: Origination (commodity), Intermediate and Final. The Bureau of Labor and Statistics (BLS) released stunning price data [Available Here] showing a dramatic 7.8% price increase in Final Demand products at the wholesale level…
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