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Bill’s Commentary:
“CNN now has lower viewership than many “alt media” platforms running on a shoestring! I guess if you lie long enough, normal people just turn you off and never come back?”
CNN Sees Lowest Primetime Ratings in Three Decades
The cable news channel CNN has suffered its lowest primetime ratings since 1991, in yet another indication that traditional television news coverage, as well as increasingly left-wing media, has taken a massive hit to its viewership in recent years.
As reported by the New York Post, the week of May 13th through May 19th saw the channel’s 8 PM to 11 PM programming draw just 83,000 viewers in the most crucial demographic of viewers between the ages of 25 and 54. In that same time period, Fox News saw over 186,000 viewers in the same demographic and the same time slots. MSNBC came in second with 111,000 viewers.
The latest from Erik –
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Bill’s Commentary:
“The Fed is already insolvent, it is only a matter of time before the dollar is grossly devalued!”
The Fed is already insolvent. Here’s how we think this plays out
On Tuesday, September 15, 1992, the two most powerful financial officials in the British government held an urgent meeting that night to review their plan for when the markets opened the next morning.
The tone of the meeting must have felt frantic… even desperate… because the value of the British pound had been falling for weeks.
Bill’s Commentary:
“Jamie Dimon sugarcoats it for you.”
JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’
JPMorgan Chase’s chairman and CEO Jamie Dimon says a “hard landing” for the U.S. cannot be ruled out.
When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually see one? Of course, how could anyone who reads history say there’s no chance?”
Bill’s Commentary:
“Of course Community Notes works better than “moderation” (read CENSORSHIP). This way dissenting …and common sense views are heard.”
Elon Musk’s Community Notes Feature on X Is Working
After Elon Musk bought Twitter (now X) in the spring of 2022, the social media company got rid of many of its behind-the-scenes moderators, slashed the system whereby users could flag tweets for review, and ramped up a different system to fight misinformation — a form of crowdsourcing called Community Notes.
A wave of outrage followed these changes. But the Community Notes feature has the benefit of transparency and shows scientific and medical merit. And a new academic review suggests it’s working — a least for scientific issues.
The latest from Erik –
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Bill’s Commentary:
“Is this a very poor thought out policy …or just election interference buying votes? We have “reserves” for a reason, influencing price was probably not on the list when the reserves were first planned?”
Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump
WASHINGTON (AP) — The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer.
The sale, from storage sites in New Jersey and Maine, will be allocated in increments of 100,000 barrels at a time. The approach will create a competitive bidding process that ensures gasoline can flow into local retailers ahead of the July 4 holiday and sold at competitive prices, the Energy Department said.
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Bill’s Commentary:
“If this happened 10-30 years ago, it would be the only news you heard for several days. Now? It is not even news …”
D.C. Police Captain Shot 5 Blocks From His Station
A Washington, D.C., Metropolitan Police Department captain who oversees the 4th District Station in the nation’s capital was shot in the head while commuting to work on Monday afternoon. The incident occurred as part of an apparent carjacking attempt around 12:10 PM in the area of 7th Street and Oneida Place Northwest, just five blocks from the police station.Bill’s Commentary:
“So, the guy hates trannies and likes beer, what’s the problem?”
Supreme Court Justice Alito sold Bud Light stock, then bought Coors during boycott
Supreme Court Justice Samuel Alito sold shares of beer giant Anheuser-Busch InBev as conservatives were ditching the Bud Light brewer over its partnership with a transgender social media influencer.
On the same day that Alito sold Anheuser-Busch, he then bought the same amount of stock in Molson Coors, a company with a history of facing political boycotts of its own, the filing shows.
The transactions have bred fresh accusations that Alito, one of the high court’s six conservatives, is engaging in or aligning with partisan politics, despite a recently adopted code of conduct that directs the justices to “refrain from political activity.”
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Bill’s Commentary:
”As Warren Buffet says, when the tide goes out, we will find out who is swimming naked!”
Sternlicht’s Starwood REIT Running Low On Cash As Redemptions Soar Amid CRE Storm
Starwood Real Estate Income Trust (SREIT), a $10 billion non-traded REIT ranked second-largest behind Blackstone’s struggling BREIT, faces a severe liquidity crunch as investor redemptions soar amid concerns ‘higher for longer’ interest rates will worsen the commercial real estate storm.
Bill’s Commentary:
”Russia, and especially China, own gold and LOTS of it. THIS is why gold and silver are going “higher,” physical markets are now taking control of the price mechanism!”
America’s Competitors Think That The Window Of Opportunity Is Now Open To Divide The World
“The United States still thinks in terms of the Cold War and is guided by the logic of bloc confrontation, putting the security of ‘narrow groups’ above regional security and stability, which creates a security threat for all countries in the region,” read the 7,000 word Joint Statement of the People’s Republic of China and the Russian Federation on Deepening the Comprehensive Strategic Partnership of Coordination for the New Era in the Context of the 75th Anniversary of China-Russia Diplomatic Relations. Quite a mouthful.
“The US must abandon this behavior.”
The statement followed a two-day meeting between Putin and Xi in Beijing. It is a strong signal, the kind of thing that matters greatly, for decades to come.
The latest from USA Watchdog –
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Bill is interviewed by Liberty and Finance (Also posted under Interviews)
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Bill talks about the precious metals breakout with Sean at SGT Report (Also posted under Interviews)
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The latest from USA Watchdog –
Bill’s Commentary:
“Filed under the category of “no shit Sherlock”, you didn’t see this coming prior to now?”
Goldman CEO Issues Warning as Interest Costs on America’s Ballooning Debt Exceed Spending on Defense, Medicare
Goldman Sachs CEO David M. Solomon is the latest business leader to sound the alarm on the Biden administration’s deficit spending, which comes as the cost of making interest payments on the United States’ ballooning government debt has exceeded spending in both the critical sectors of defense and Medicare.
“I think the level of debt in the United States [and] the level of spending is something that we need a sharper focus on and more dialogue around than what we’ve seen,” the investment banking chief told Bloomberg Television on May 13, adding that if something isn’t done to rein it the spending, it could create problems.
Bill’s Commentary:
“Michael Burry, “the Big Short” has just taken a position in gold. Welcome to the party, but what took you so long? Imagine had he put all of his 2008-09 profits into gold (which cannot bankrupt) back then when gold was sub $1,000?”
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Bill is interviewed by Jean Claude – (Also posted under Interviews)
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Bill’s Commentary:
“Credit turns negative on top of the most over levered global financial system and real economy in all of history? This truly means something big, we will shortly see the fallout. On a separate note, maybe China (and the world) is buying gold, not as a hedge against Dollar inflation but versus Chinese deflation? Naw, it’s both!”
China’s Broadest Credit Metric Just Turned Negative For The First Time Since 2005
China has lots of economic problems (even if the market has been surprisingly generous in the past 4 months and allowed Chinese stocks to surge despite any actual economic rebound or recovery), but this is a new one.
It is hardly a secret that for much of the past 15 years, and certainly in the aftermath of the Lehman collapse, it was China’s unstoppable credit creation that lifted the world out of a deflationary shock time and again, and indeed it is a fact that as long as we can remember, China’s broadest credit aggregate, Total Social Financing, was always positive, come rain, blizzard, or shina.
Bill’s Commentary:
“WOW, a double whammy! Their money supply is contracting as well as new credit. How do you think this will end? And certainly, it won’t affect global financial markets nor the real economy, right?”
Pressure On China Heightens As Capital Outflow Chokes Liquidity
The latest money data from China shows its capital-outflow problem is worsening, pressuring policymakers to allow a further weakening in the currency.
China released money and inflation data over the weekend. CPI and PPI were not great reading, but money supply data was even more downbeat: M2’s growth disappointed, while M1 growth is moldering, falling 1.4% year-on-year versus +1.2% expected.
Bill’s Commentary:
“Deflation of the things you have …”
Delinquencies on Office Property Loans at Banks Are at 8 Percent While Office Loans the Banks Sold to Investors Show 31 Percent in Trouble
Just how much pain is being felt in the CMBS market related to office properties was further quantified on May 3 when Scott Carpenter reported the following at Bloomberg Law:
“About $52 billion, or 31%, of all office loans in commercial mortgage bonds were in trouble in March, according to KBRA Analytics.
“That share is up from 16% a year ago, according to the firm. Some cities have bigger headaches than others, with Chicago and Denver offices having 75% and 65% in jeopardy, respectively.”
Bill’s Commentary:
“More real estate death”
Iconic Trump Hotel DC Struggles Under New Owners, Foreclosure Auction Next Month.
One of Washington D.C.’s most iconic buildings, located just blocks from the White House, is set to be sold at a foreclosure auction next month. The Waldorf Astoria, formerly the Trump International Hotel at the Old Post Office, is at the center of financial turmoil with its new owners struggling to turn a profit like Trump did.
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