Merriam-Webster Dictionary definition of the word “raid”: “a sudden invasion by officers of the law”.
The Biden team says they did not know about the FBI raid. If that is not a lie, how is that good? If that is a lie, how is that good?
A relative of mine in middle America just had her rent contract expire. The re-up for the next twelve months is up over 40% from last year. Let’s see how far from reality the shelter component of the CPI is tomorrow.
August 6: CPAC backs Trump 69%. August 7: Senate votes to double IRS agents. August 8: FBI raids Trump.
The best way for a regular person (as opposed to mega donors who buy off politicians to sustain things like “carried interest”loopholes) to avoid income tax increases and a doubling of the IRS harassment team is to make no income.
The Los Angeles “Safe Injection Sites” need to be situated next door to the politicians who create them.
It’s only one indicator, but one that has been particularly useful: the Copper/Gold ratio suggests the 10-year US Treasury fair value yield is below 2%.
The 2-year 10-year yield curve inversion is gaining steam. At 36 basis points right now. Rough road ahead.
When the previously unconstitutional income tax was put in place through amendment the tax form was advertised as just a couple of pages affecting just a few people.
A big piece of the upcoming spending package is a major increase in IRS funding. The problem is the magnitude of proposed IRS funding is more that the revenue that funding could bring in. Think about why that might be.
Well that was quick. The entire UST yield decline of last week has been reversed.
UST yields are collapsing. 3.2% across the yield curve offered a couple weeks ago now looks like a bargain.
The debate about whether or not the US is in recession is tiresome, and off point. On point, and undeniable, is the fact that the US is experiencing stagflation.
Whenever a new bill is proposed in Washington it’s labeled suggesting an outcome exactly the opposite of the one that would in fact be realized. Up next: “The Inflation Reduction Act of 2022”.
The US Treasury yield curve two years on out is flat as a pancake at about 3.2%. Seems low in a world of 10% year-on-year past inflation, right? Not necessarily.
As disgusting and infuriating the George Floyd video was, the Uvalde surveillance video is even more sickening.
The Ruble is worth more now versus the dollar than it was pre Ukraine. And the dollar is up big since then versus most other currencies. That means the Ruble is way, way up post invasion. Huh.
The 30 year UST action today is the mirror image of the throwover mid June which presaged a 75 bp drop in yields. Mirror image.
Dear Mr. President,
Please admit excessive stimulus and lockdowns were significant drivers of inflation and pledge you will not support either of these policies again.
Sincerely,
Jeffrey Gundlach
Please admit excessive stimulus and lockdowns were significant drivers of inflation and pledge you will not support either of these policies again.
Sincerely,
Jeffrey Gundlach
I hear Jesse Watters just dissed the Buffalo Bills as being “unable to win a Super Bowl”, or something like that.
Guess he is too busy with his show getting cheap laughs about the past to pay attention to the present.
Go Bills.
Guess he is too busy with his show getting cheap laughs about the past to pay attention to the present.
Go Bills.
Betting markets say there is a 63% chance Joe Biden will not be the Democratic Party’s 2024 Presidential candidate.
30-year yield took out the 2018 closing high today only to powerfully reverse by 25 bp. This action is called a “throw over” and often marks an important trend reversal.
Powell today said the “critical” goal is to get inflation down to 2% while minimizing unemployment in the inflation fight.
Want to hear the plan, not just the goal.
“Nimble” is not a plan.
“Nimble” risks oversteering on individual data releases.
Paint or get off the ladder.
Want to hear the plan, not just the goal.
“Nimble” is not a plan.
“Nimble” risks oversteering on individual data releases.
Paint or get off the ladder.
Breaking news
Falling gas prices buoy consumer sentiment, temper inflation expectations | Link
From @Breakingviews: Giorgia Meloni’s popularity is soaring. Her manifesto, drafted with right-wing allies, favors tax cuts and fiddling with EU recovery cash, says @LJucca. Yet EU and market vigilance will tame radical fiscal ideas that may endanger Italy’s big state debt
Hedge fund billionaire @StevenACohen2 is reportedly setting up a separate, crypto-focused asset manager to trade spot cryptocurrencies and derivatives. @BrandyBetz reports
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Russia's wealth fund could add China's yuan as the Kremlin explores other currencies while sanctions keep dollar and euro assets frozen | Link
Elon Musk says the Tesla Semi Truck will be delivered in 2022
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"Not everything that can be virtualized will have value," says billionaire Mark Cuban. The Dallas Mavericks owner took to Twitter to explain why he doesn't value virtual real estate after slamming #metaverse properties on Altcoin’s YouTube podcast.
Fed's Barkin wants to keep hiking interest rates until there is a 'sustained period' of inflation under control | Link
Warren Buffett's Berkshire Hathaway has plowed over $25 billion into Chevron and Occidental this year. One energy guru suggests why. | Link
Traders expect the ether rally to fizzle out as upcoming merge to proof-of-stake system will be a ‘sell the news’ event | Link
Malcolm Gladwell, addressing criticism: 'Solitary work' can be done at home but for creative work, 'offices really do matter' (via @CNBCMakeIt) | Link
Toast $TOST Rallies After Guidance Tops Analyst Estimates
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🚨TUNE IN: Colombia's new leftist government headed by Gustavo Petro wants to cut inequality and raise money for poverty-fighting programs. It might not be so easy.
Join the LIVE discussion
🎙@JPSpinetto
🎙@anjaralop
🎙@mjbristow
🎙@PattyLaya
After a UBS analyst's note sparked a two-day plunge in the drug makers, their shares rallied Friday after they said there is no evidence the heartburn drug causes cancer. A J.P. Morgan note also called the selloff overdone. | Link
It may not be unexpected, but the trend is unmistakable and growing
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See where high earners moved and drove up typical incomes, making it even harder for locals who make a good salary to buy a home | Link
With Alibaba stake cut, SoftBank's Son cools toward China tech | Link
Ciena $CIEN Gains Following Morgan Stanley Upgrade
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2 simple, everyday ways to help keep the people around you from burning out at work (via @CNBCMakeIt) | Link
France is contending with its worst nuclear outages in decades, putting it at greater risk of blackouts this winter than big neighbors experiencing their own energy headaches | Link
“It's playing out as a sanctions action against @TornadoCash ... not an individual associated with it, but the smart contract itself ... a much more nuanced issue to discuss."
Listen to the conversation with @jillrgunter of @EspressoSys and @nlw.
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WATCH: Britain's economy contracted by less than feared in June, when public holidays had been expected to exert a big drag, although sectors most exposed to a worsening cost-of-living crisis struggled | Link
U.S. consumer sentiment up more than expected in August, survey shows | Link
Wedbush lowered its stock rating to Neutral and kept the $88 price target on the stock unchanged. | Link
The SEC is looking into Melvin Capital Management risk controls and investor disclosures after the hedge fund was crippled by the meme-stock rally last year | Link
Heard on the Street: China’s chip champion had some bumper years thanks to the pandemic. Now SMIC has to grapple with two big problems at once: a drop-off in demand and intensifying geopolitical risks. | Link
Gas prices dropped below $4 in most states—here's how much a gallon costs where you live (via @CNBCMakeIt) | Link
Elon Musk tells Joe Biden to 'free some people in jail for weed here too'
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China tariffs: 3 factors that could affect whether Biden eases the Trump-era duties by @kevcirilli | Link
💰 Love #crypto? Join our community and discuss the hot new virtual currency. 👇
China's housing crash has wiped out $90 billion from builders' stock and bond values this year as debt crisis looms | Link
The San Diego company slashed its forecast for revenue growth in 2022 to between 4% and 5% from 14% to 16%. | Link
Five Chinese state-owned companies to delist from NYSE amid U.S. tensions | Link
📻🎙 Inflation may have cooled to a degree in July, but pressures are still simmering.
@johnauthers weighs in on Bloomberg’s Opinion podcast with @VonnieQuinn
Listen to the full conversation ⤵️
Apple:
Spotify: | Link| Link
Germany is on Track to Meeting its Gas Saving Target | Link
Bitcoin mining hosting firm @APLDBlockchain signed a $15 million loan with a North Dakota bank to pay off its debt and continue building its data centers.
@egreechee reports
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There's more than one important number when it comes to inflation. Bloomberg's @TheStalwart explains how to interpret the latest CPI data | Link
A judge said Robinhood must face claims that it manipulated the market during "meme stock" madness
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Danny Moses bet against the housing market and made A TON of money in 2008
Now, he's set his bearish sights $TSLA 👀
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34% of younger workers are thinking of switching jobs due to company's stance on abortion, post Roe (via @CNBCMakeIt) | Link
Preliminary figures from the University of Michigan's consumer survey indicate that consumer sentiment is increasing as economic conditions show signs of improving. | Link
Investors should buy the latest rally in stocks as cooling inflation means lower peak interest rates, JPMorgan Asset Management's chief strategist says | Link
Many retailers that had too little to offer during the early stages of the pandemic now have too much of everything—from bikes to barbecue grills. They amassed the extra inventory because they expected sustained demand and supply-chain problems | Link