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Bill’s Commentary:
“Type in to your browser antifa.com and see what comes up? Gotta tell you, it is the WTF of my day…”
Bill’s Commentary:
“And the consumer is still strong… yet they need 50% discounts to be attracted?”
RV Downturn Turns Apocalyptic With Largest Dealership Offering 55% Discounts
Federal Reserve Chair Jerome Powell has been a serial bubble blower, only to later deflate bubbles through interest rate hikes and restrictive monetary policies. In this note, we’ll examine the recreational vehicle industry’s boom and bust and the current multi-year downturn.
In early 2020, a combination of factors sparked the RV boom, including Fed Powell’s reduction of interest rates to the zero lower bound and Democratic cities that imposed tyrannical government-enforced lockdowns that caused folks to flee to rural America. To some extent, Starlink space internet made remote working from RVs possible in some of the most remote areas in the nation. However, as soon as Powell began to hike rates in response to inflationary forces in early 2022, the boom turned into a bust as the affordability of these homes on wheels collapsed.
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The latest from USA Watchdog –
A Period of Great Uncertainty – Martin Armstrong
Almost everything you see and hear with the Lying Legacy Media and the government is a lie. Just this past week, the Biden Administration backtracked about employment as it was widely reported, “US economy added 818,000 fewer jobs than first reported in year that ended in March.” A huge miss or a huge lie–take your pick. Other big lies we have been told in recent years: “Trump is colluding with Russia,” “Hunter Biden’s laptop is Russian disinformation,
and the “CV19 vax injections are “safe and effective.” That is just scratching the surface of the lies we are told on a daily basis. The lies, which people realize are becoming preposterous, are adding to the public’s lack of confidence in everything, including the economy. Martin Armstrong says, “We are in a period of great uncertainty. . .. When people are uncertain, they don’t spend. They save. That’s what happens in a depression and a recession. . .. So, if you have no confidence in the future because of all this crazy stuff going on, what do you do? You don’t borrow, and you pull back and say let me see what is going to happen.”Bill’s Commentary:
“Pastor Stanley checks in on shipping and supply chains. I would add, the real shut off will be once the dollar is no longer accepted by our trading partners.”
Shipping Container and Ocean Delivery Crisis on Our Doorstep-This Means Hyperinflation and Sharply Increased Lack of Availability of Imported Goods
Just last week Liz Ann Saunders, Chief Investment Strategist at Charles Schwab and Co. Inc. reported the following on LinkedIn:
…’Per data from National Retail Federation and Hacket Associates, U.S. container imports through major ports will reach 24.9 million measured in 20-foot equivalent units … up 12% from last year and close to 2021/2022 levels’…
Sounds like a positive economic indicator…on the surface…Time to dig a little deeper…
…’CONTAINER RATES spiked months ago as shipping firms had to redirect traffic around the Horn of Africa due to MidE (Mid-East) situation. Costs passed on to consumers (who else). Inflationary. ‘…(Brian Byrne-Investment Committee Member at Assembler Growth Capital, LLC)
Bill’s Commentary:
“This is very scary!”
Durov detained in France over his refusal to ‘censor truth,’ Tucker Carlson believes
NEW YORK, August 25. /TASS/. Telegram founder Pavel Durov was detained in France because of his refusal to “censor the truth” by the order of governments and intelligence agencies, US journalist Tucker Carlson believes.
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Bill’s Commentary:
“45 seconds of sanity!”
Bill’s Commentary:
“The devils are back? I didn’t know they ever left as NOTHING has changed since 2008 except the problems got even larger…!”
All the Devils from 2008 Are Back at the Megabanks: Leverage, Off-Balance-Sheet Debt, Over $192 Trillion in Derivatives, Shaky Capital Levels
As indicated on the above graph, as of December 31, 2023, Goldman Sachs Bank USA, JPMorgan Chase Bank N.A., Citigroup’s Citibank and Bank of America held a staggering total of $168.26 trillion in derivatives out of a total of $192.46 trillion at all federally-insured U.S. banks, savings associations and trust companies. That’s just four banks holding 87 percent of all derivatives at all 4,587 federally-insured financial institutions in the U.S. that existed as of December 31, 2023.
You might be asking yourself the very valid question as to why the Dodd-Frank financial reform legislation of 2010, that followed the Wall Street financial quake of 2008, didn’t correct the derivatives gambling that played a central role in crashing the U.S. financial system. For why the threat of derivatives never actually went away, see our report: Meet the Two Congressmen Who Facilitated Today’s Derivatives Nightmare at Wall Street’s Mega Banks.
Bill’s Commentary:
“Argentina is sending gold reserves to London? Are they crazy? Didn’t they consult with Venezuela before making their decision? Lastly, can you say ...”AND IT’S GONE!”?“
Argentinian Gold Reserves Arrive In London
In June the UK received a gold shipment worth $150 million dollars from Argentina. Most likely, the gold was sent by the central bank of Argentina (BCRA) to be used as collateral in the London Bullion Market.
Newspaper El País reported on July 28, 2024, that part of the official gold reserves of Argentina were transferred abroad. After rumors spread regarding the whereabouts of the Argentinian gold, Minister of Economy Luis Caputo acknowledged that gold was indeed shipped overseas. “If you have [the gold] outside the country, you can get returns,” he shared in an interview with an Argentine TV channel. According to El País President Milei hinted that the gold can be used as collateral to take out a bridge loan, which is essentially a swap.
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Bill’s Commentary:
“Always an intellectually stimulating interview with Francis Hunt”
Bill is interviewed by The Market Sniper – (Also posted under Interviews)
Bill’s Commentary:
“No worries here, this is to accommodate the females (which they cannot describe anyway) that identify as males that day and use the men’s bathroom…”
Duke University has tampon dispensers in men’s bathrooms
At least two buildings on the campus of Duke University in North Carolina have tampon dispensers in men’s restrooms, as seen from photos obtained by Campus Reform.
The dispensers are found in restrooms in the Bryan Center, which is the school’s performing arts theater, and the Brodhead Center, which is one of the university’s event spaces.
In a “Universal Menstrual Hygiene Product Access” proposal from the 2016 Duke Student Government, students urged that “[m]enstrual hygiene products should be provided for all menstruating individuals in all academic, residential, and student center buildings.”
Bill’s Commentary:
“While on the verge of WWIII …”
Navy Could Sideline 17 Support Ships Due to Manpower Issues
Military Sealift Command has drafted a plan to remove the crews from 17 Navy support ships due to a lack of qualified mariners to operate the vessels across the Navy, USNI News learned.
The MSC “force generation reset” identified two Lewis and Clark replenishment ships, one fleet oiler, a dozen Spearhead-class Expeditionary Fast Transports (EPF) and two forward-deployed Navy expeditionary sea bases that would enter an “extended maintenance” period and have their crews retasked to other ships in the fleet, three people familiar with the plan told USNI News Thursday.
Based on the crew requirements on the platforms, sideling all the ships could reduce the civilian mariner demand for MSC by as many as 700 billets.
Bill’s Commentary:
“J Johnson checks in with us”
Since June 28th, the US Dollar has dropped from 105.80 to today’s low of 100.545. That’s a 5.255 point drop or just over 5%.
Since May 30th to today, Silver’s Overall Open Interest has dropped from 187,868 to today’s count at 146,017, A 41,851 count drop or just over 25%.
Probably nothing, Maybe JJ
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Bill interviews with Chris Marcus at Arcadia Economics (Also posted under Interviews)
Bill’s Commentary:
“What if?”
A World Priced In Gold
Pretend, for a moment, that it’s 1971 and you’re President Richard Nixon (admittedly disturbing fantasies, but bear with me). You face the perennial government income/outflow dilemmas, and other countries, noting your struggle, are trying to cash their dollars in for your limited pile of gold bars.
But this time around you don’t cave and “close the gold window,” ushering in the Age of Fiat Currencies. Instead, you cut spending and raise revenues however you have to. You balance your budget and convince your trading partners that the dollar remains “good as gold.”
Thanks to you, the US and by extension the world remains on the post-WW II Bretton Woods quasi gold standard. And what follows is very different.
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Bill’s Commentary:
“When the system comes down and people lose everything, they will absolutely beg for a CBDC and “universal basic income.” So sad …”
Bill’s Commentary:
“Jerome Powell fesses up the truth!”
Bill’s Commentary:
“Like I said a few days ago, we don’t need no stinkin’ economy as long as we have the Dow Jones!”
The Sahm rule has triggered: markets, please prepare for landing
The economic cycle is at an interesting inflection point where the effects of higher interest rates are becoming evident in numerous ways, be it a slowdown in the labour market, falling inflation, or wavering consumer and business confidence. Whilst a lower rate of inflation is welcomed, the important question remains: have interest rates been too high for too long, and has this caused irreparable damage to the economy in its current cycle? In this blog, I discuss the breaching of the Sahm rule, and whether the Federal Reserve (Fed) can manage to coordinate a ‘soft landing’, where monetary policy tools are used to reduce inflation to target levels, without pushing the economy into a recession.
Before assessing whether the Fed might be able to achieve this goal, let’s take a step back and assess how the recent inflation predicament arose.
Bill’s Commentary:
“We (the West) screwed China out of silver over 100 years ago… we’re about to get screwed by multiples as payback. They do, as you know, have a very long lasting memory…”
China’s Strategic Silver Takeover: A Calculated Move to Drain the West
A Hidden War for Economic Dominance
While the world has been focused on the geopolitical tensions between China and the West, a more subtle battle has been unfolding in the global financial markets. China, through a series of calculated moves, has been quietly accumulating vast quantities of gold and silver. This move has signaled a potential shift in the global economic landscape and highlights the developing countries’ need for exorbitant amounts of resources.
Silver: China’s Secret Weapon
In addition to its gold hoarding, China has also been strategically increasing its silver reserves. The Shanghai Metals Exchange has seen a significant surge in silver trading volume, with prices consistently higher than those on Western exchanges. This suggests that China may be deliberately driving up the price of silver to drain the West’s resources.
Bill’s Commentary:
“I wish Erik would just tell us how he really feels instead of holding back so much…!”
The latest from Erik –
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Bill’s Commentary:
“Their meeting in October is just around the corner!”
BRICS Makes Massive De-Dollarization Announcement
As the BRICS economic alliance continues its work to shift global finance, the group has made a massive de-dollarization announcement. Indeed, the bloc has expressed a notable milestone in its quest to lessen international reliance on the US dollar.
The collective has not been shy about its stance against the currency. Since 2022, the group has contested Western sanctions on Russia following the invasion of Ukraine. That led to a massive initiative to promote local currencies and even develop a BRICS native payment system. Those goals took a massive step forward this week.
Bill’s Commentary:
“Free abortions and vasectomies outside the DNC convention? And paid “influencers” to spread their word? Seems totally normal …right?”
Chicago DNC Event Features Bizarre List Of Guests And Speakers
It might sound trite these days to suggest that the political left has become an ideological cult, but when a group like this becomes increasingly more bizarre in their behavior with each passing month it’s hard to ignore the greater implications. As the Democrats try to make a clean getaway from Joe Biden’s disastrous presidency they have adopted an odd marketing strategy that one can only describe as “tortured optimism.”
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Bill’s Commentary:
“This pretty much confirms what I have said for several years now, the best place to “hide” from woke bullshit and government trying to shove skittles and unicorns down your throat …is Russia!”
Russia Offers Foreign Nationals Escaping ‘Destructive NeoLiberal Ideals’ Safe HavenThe Russian government says it will begin accepting visa applications from foreign nationals seeking to escape “neoliberal ideals.”
On Monday, Russian President Vladimir Putin signed a decree inviting world citizens fed up with far-left policies to come to Russia.
Applicants must reject leftist policies in their own countries “aimed at imposing destructive neoliberal ideals on people, which run counter to traditional Russian spiritual and moral values.”
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Bill’s Commentary:
“It’s only 29 straight down months, what’s the big deal? Everything is fine!”
US Leading Economic Indicators Plunge For 29th Month – Worse Than COVID Lockdowns
WTF is going on…
We have Kamala-nomics propoagandists expounding that price-controls are good for deflation and half of America believes it…
And now, we have US Leading Economic Indicators down for their 29th straight month – at a level worse than the trough of COVID lockdowns…
Bill’s Commentary:
“When I was growing up, we were told that if we worked hard we could succeed and become successful. Now, we are being told that if we become successful, they have the right to steal our shit?”
Bill’s Commentary:
“Qui bono? Can you say USA USA USA!”
‘Keep quiet’ Tusk tells Germany over Nord Stream revelations
Polish Prime Minister Donald Tusk has ordered “all initiators and patrons” of the Nord Stream pipelines to “keep quiet” following the revelation that Ukraine might have been behind the 2022 attack on the infrastructure and that Poland may have been in on the scheme.
The pipelines were seen as a critical part of Germany’s energy infrastructure before their destruction, with numerous successive Berlin governments backing their continued use and expansion.
Shortly after it was put forward that Kyiv and Warsaw may have been co-conspirators regarding the attack, Tusk posted on X that those who benefited from Nord Stream were at fault.
Bill’s Commentary:
“According to the Justus department, none of this is illegal if you are part of the club!”
What Does the House Impeachment Inquiry Report Say?
The impeachment inquiry into Joe Biden, formally adopted by the House of Representatives in December of last year, has released its final report and recommendation. Prepared by the Oversight and Accountability, Judiciary, and Ways and Means Committees, the report concludes that investigators have “accumulated evidence demonstrating that President Biden has engaged in impeachable conduct.”
According to the House investigating committees, Biden—while serving as vice president to Barack Obama—abused his office for monetary gain for himself and his family. The report states that “the Biden family and their business associates received tens of millions of dollars from foreign interests by leading those interests to believe that such payments would provide them access to and influence” with the U.S. federal government through then-Vice President Biden.
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Bill’s Commentary:
“Proof positive the woman knows nothing about economics nor finance …”
In First Policy Speech, Harris Offers Little Details on ‘Soviet’ Price Control Scheme
In her first policy speech as the Democratic presidential nominee, Kamala Harris officially proposed her economic plan to address the high cost of living but failed to offer additional details on what economists have called her “Soviet” price control scheme.
During the North Carolina rally, Harris said her price gouging plan—a phrase she mispronounced as “price gaging”—would pose “new penalties” for companies that “exploit crises and break the rules” and support “smaller food businesses that are trying to play by the rules and get ahead.” But Harris failed to address the concerns of top economists who slammed the proposal, first introduced on Wednesday, for being bad communist policy.
Bill’s Commentary:
“Some common sense from Erik for the weekend.”
The latest from Erik –
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