Wednesday 20 Jan 2021
Biden Will Extinguish The Dollar - Talk Markets.
With US stock markets continuing on to more ridiculous valuations, what is happening in the real world? The S&P 500 Q4 earnings is expected to decline -6.8%: Factset. Actual earnings for Q3 was -5.7% lower, and -31.6% for Q2. Revenue is expected to grow +0.3% for Q4, after a -1.1% decline in Q3. The low revenue growth and declining profit margin typically suggests companies are trying to maintain profits despite declining volume by raising the price of goods. Consumer spending is not keeping up with inflation. The real standard of living is declining, to support stock market investors.
In This Overheated Market, It's Not If But When. Here's How To Prepare - Seeking Alpha.
Trump departs Washington in final hours as president, travels to Florida - NBC. The world feels safer. Shouldn't the outgoing president pay for his own private transport out of Washington?
United Health Group (UNH), managed health care, results: year revenue +6.2% (Q4 +7.6%), EPS +11.9% to $16.03 (Q4 down from $3.68 to $2.30), or adjusted $16.88, P/E = $352.19/$16.88 = 21.
Netflix (NFLX) results 2020 year revenue +24% (Q4 +22%), dEPS up from $4.13 to $6.08 (Q4 down from $1.30 to $1.19), P/E = $501.77/$6.08 = 83, price/sales = $501.77/$55.03 = 9.1.
Netflix tariffs have risen a lot: Basic 480p R99pm ($6.60), Standard 1080p R139pm ($9.27), Premium 4K+HDR R169pm ($11.27). There are too few programs that are worth it. On Youtube there are milions of people creating their own unique content.
On Twitter: Sarah Abdallah @sahouraxo: "So in the end, Trump pardons Blackwater war criminals, an Israeli spy, a bunch of financial fraudsters, shady political operatives, and even a couple rappers. But not Julian #Assange and Edward Snowden. No further commentary necessary, is there?"
Trump pardons Anthony Levandowski, the engineer sentenced to prison for stealing trade secrets from Google - CNBC.
Op Twitter: Michael Lebowitz, CFA @michaellebowitz: "The chart no inflationist will show you. Inflation is a possibility, but money supply and velocity have to work in unison, not against each other. https://realinvestmentadvice.com/the-feds-inconvenient-truth-inflation-is-m-i-a/": chart. The circled area is before governments started to falsify inflation statistics. Way back, when there were actual economic growth, the government was happy to declare the actual inflation rate. No government is going to report continuous economic decline, and falsifying inflation is the only way out. Unlike the M1 on your chart, the US M2 money supply has never had negative growth, the closest measure of inflation available:
Tuesday 19 Jan 2021
If Peter Schiff were President, this is how he would fix America (Pt. 2/2) - Youtube.
On Twitter: zerohedge @zerohedge: 'Goldman Q4 revenue up 27% Y/Y to $11.7BN while operating expenses down 19% Y/Y, on "lower compensation and benefits expenses". Higher bank revenues and much lower comp: this is the end of an era for ibankers/traders who used to share in firm upside'. The revenue growth happens to agree with money supply growth. More money in circulation means banks handle more money from which they can extract an income.
Biden to block Trump's plan to lift COVID-19 European travel restrictions - Reuters.
Analysis: Oil majors beat traders, gas rivals to cash in on LNG price spike - Reuters.
On Twitter: Liz Ann Sonders @LizAnnSonders: "Stress continuing to build in supply chains … freight bills have surged given dearth of available shipping containers to move products out of Asia @DrewryShipping @Bloomberg" chart.
Thailand jails woman for more than 43 years for insulting monarchy - SCMP.
One important statistic governments need to make decisions is the percentage of people with antibodies against SARS-CoV-2. Besides affecting the need for lock-downs, people with antibodies do not need a vaccine. ....
.... From 28 Dec 2020: China’s national epidemiological survey finds COVID-19 infection rate at low level among population - Global Times. "... the positive rate of coronavirus antibodies in Wuhan, Central China's Hubei Province, was at 4.43 percent."
.... From 6 Jan 2021: US COVID-19 Cases Are Surging. Here's Why Natural Herd Immunity Is Still a Long Way Off - Science Alert. "A new analysis of public health data estimates that by the middle of November 2020, 14 percent of the US population had been infected with SARS-CoV-2".
On Twitter: Otavio (Tavi) Costa @TaviCosta: "Government deficit number is out. And believe it or not…. another record. Worst level in 76 years.": chart.
On Twitter: Zapiro @zapiro: "Zapiro's cartoon @dailymaverick DM 168 (16 January 2021) on EndGame @POTUS - https://zapiro.com/210114dm": cartoon.
On Twitter: Bloomberg @business: "Health authorities in Norway say there’s no evidence of a direct link between the recent string of deaths among elderly people inoculated against Covid-19 and the vaccine they received https://trib.al/7qnpspW".
On Twitter: Ben Serrurier @benserrurier: "Coal has just been completely squeezed out by wind in ERCOT (Electric Reliability Council of Texas), and solar is just getting going. Solar's generation profile means it will suppress peak prices more than wind has, which should be concerning for coal and gas." chart. More lies by supporters of green energy. Our World in Data. World coal has remained constant, gas and oil increased as it has to, being the 75% back-up power for wind.
On Twitter from 12 Nov 2020: Donald J. Trump @realDonaldTrump: " “REPORT: DOMINION DELETED 2.7 MILLION TRUMP VOTES NATIONWIDE. DATA ANALYSIS FINDS 221,000 PENNSYLVANIA VOTES SWITCHED FROM PRESIDENT TRUMP TO BIDEN. 941,000 TRUMP VOTES DELETED. STATES USING DOMINION VOTING SYSTEMS SWITCHED 435,000 VOTES FROM TRUMP TO BIDEN.” @ChanelRion @OANN". Peak madness?
From 2 March 2020: Any chart containing interest rates shows the US government through the Federal Reserve Bank has dug a deeper and deeper hole, from which it cannot escape without a depression. The FRED chart shows US total debt multiplied by interest rates adjusted for inflation. It is an indication of the cost of debt. It shows big swings resulting in recessions as the grey bands. It forms an expanding or broadening triangle pattern (in engineering it is an oscillation running out of control). By lowering interest rates and encouraging borrowing, it has made it impossible to raise interest rates. The dual mandate of economic growth and suppressing inflation is incompatible. Inflation is being allowed to impoverish workers, and the standard of living is maintained by growing debt.
Monday 18 Jan 2021
As Trump prepares for final presidential pardons, will he attempt to pardon himself? - Vox. He presumably cannot pardon himself. Just to make sure he doesn't miss anyone he could pardon everybody.
New research could lead to more treatment options for diabetes patients - Phys.org.
Twitter temporarily suspends Rep. Marjorie Taylor Greene for election misinformation - CNN.
Donald Trump’s coronavirus legacy: 400,000 dead on his watch - SMP. Trump was clearly not qualified for the job.
On Twitter: John Kemp @JKempEnergy: "CHINA’s freight volume had recovered to prior-year levels by November, after falling almost -18% year-on-year in February at the peak of the epidemic": chart. Is that physical volume or US dollars?
On Twitter: Mike Simonsen Dragon @mikesimonsen: "On the inventory watch, we're down to just 389,000 single family homes on the market. Many new listings are getting offers so quickly they're bypassing our active market data and just going straight to pending-contract. 2/5": chart. In other markets inventories are also down, but that is because people are in lock-down.
Sunday 17 Jan 2021
Parler's website is back online with a brief message to 'lovers and haters' - CNN.
Biden to yank Keystone XL permit on first day of presidency - Politico.
On Twitter: Bloomberg Economics @economics: "A top economic adviser to President-elect Joe Biden warns the U.S. economy is “spiraling downward” and calls for swift action". The only action politicians know about is printing money, which is why the economy was already in trouble before the COVID-19 lockdown.
Facebook and Google allegedly cut a deal that reduced ad competition - Engadget.
On Twitter: Abhinav Arora @abhinavxarora: "43% of all venture capital raised goes straight into Facebook and Google Ads. (Source:
@clearbanc) Is this healthy?"
On Twitter: Mark J. Perry @Mark_J_Perry: "Updated "Chart of the Century" -- see any patterns?": chart.
From 14 Jan: Blue Origin Launches And Lands Its First Space Tourism Rocket Of The Year, With Human Flights In Sight - Forbes.
After a decade, NASA’s big rocket fails its first real test - Ars Technica.
Why are new coronavirus variants emerging in the U.S.? - NBC.
Betty White's Life in Photos - People.
On Twitter: Ramp Capital @RampCapitalLLC: "Look what you’ve created @federalreserve": Robin Hood stock trader.
World's Largest Muscle Car Collector Set To Auction 200 Rare Vehicles At No Reserve - Zero Hedge. When electric vehicles take over buying a fuel car would be like buying a horse drawn carriage.
Saturday 16 Jan 2021
Watch NASA test fire its massive new rocket - The Verge.
55 Americans Have Died Following COVID Vaccination, Norway Deaths Rise To 29 - Zero Hedge.
On Twitter: Peter Schiff @PeterSchiff: "A $15 #MinimumWage is too low. You can't buy a new car or a nice house, save for retirement, put kids through college, take a family vacation, buy designer clothes, dine in fancy restaurants, or have lots of stuff people work to afford. Hey
@JoeBiden make it $50. Now that's fair!"
In countries dominated by worker unions, and with socialist/labour governments there is little variation in salary scales, which means no incentive to study or work harder. A large part of the workforce is typically employed by government at high wages for poor performance. The economies decline.
From 11 Jan 2021: Why Bitcoin is Not a Ponzi Scheme: Point by Point - Swan Bitcoin. Any money making scheme must be subjected to the following test: Does it provide a product or service equal to the money made? If short term speculators make money in the stock market, other people must lose money, because it is only the long term capital supplied to companies that provide a service. If the stock market or houses prices grow faster than the economy then workers will earn less in order to pay for it, through inflation. The money made in Bitcoin is out of proportion to the service provided.
47 Australian Open Players in Quarantine After Positive COVID-19 Tests on Two Charter Flights - People.
Apple's Tim Cook Just Comes Right Out and Says It About Canceling Parler: 'We Don't Consider That Free Speech' - RedState. Boycott Apple products.
Friday 15 Jan 2021
23 die in Norway after receiving Pfizer COVID-19 vaccine: officials - New York Post.
Bill Gates becomes top US farmland owner - Fox Business. Did he buy the Haney Place? (Green Acres)
We're about to suffer worse than I thought. - Peter Schiff, Youtube.
On Twitter: Wilshire 5000 @W5000: "Wilshire 5000 Sheds $325 Billion; Nets $425 Billion Loss for Week". It is inconceivable that the stock market could go down. It is $1000 loss for every person in the US. Now the government will have to increase the aid to $3000 from $2000.
Is Donald Trump the worst US president ever? Historians say so - smh.au.
Hundreds of Central Americans gather for caravan aiming to reach United States - Yahoo News. Good timing. What is going to happen to the Trump wall now? Will Trump patrol the border himself?
Pelosi Says Congress Members Involved In Capitol Siege May Be Prosecuted - Forbes. For an 81 year old she has a lot of energy. Does she drink Red Bull?
Biden inauguration rehearsal is postponed due to security threats - Politico.
US retail sales fell 0.7% in December: Trading Economics. Retail sales declined whilst money supply shot up. Consumers are being impoverished.
Semiconductor stocks have shot up. Applied Materials (AMAT) is at a price/earnings of $105.80/$3.92 = 27, after sales to October 2020 rose 18%, but sales was the same as in 2018. Broadcom (AVGO) trades on a PE of $450/$6.33 = 71. Lam Reseach (LRCX) had a big last quarter growth of 47%, but year to June sales was -9.3% lower than two years ago.The dollars are worth 25% less than a year ago, so sales growth doesn't necessary mean more product. If the money creation slows, so will sales growth.
Tesla losing ground in Europe should trouble investors, strategist says - CNBC. Speculators buy because the share price goes up.
The planet is dying faster than we thought - Live Science. It is drying out due to a lack of rain, which is the result of clean air, and the increasing use of natural gas for energy. Smoke is required to seed the clouds, like from burning coal.
Sarah Jessica Parker, Matthew Broderick offload West Village pad for $US15m: reports - domain.au. Dwayne ‘The Rock’ Johnson Lists Atlanta Equestrian Estate for $7.5 Million - Mansion Global. Hemsworth brothers' Malibu mansion sells for $4.9 million - Local12.
Trump plans to live at Mar-a-Lago, employ some current aides - Moneyweb. "A lawyer representing several of Trump’s neighbours has demanded that Palm Beach declare that the outgoing president can’t live at Mar-a-Lago, citing an agreement he made with the city in the early 1990s when he converted the property from a private residence to a private club, according to the Washington Post."
Trump should have laid out a mini golf course on the White House lawn. It would have saved him a lot of travelling.
On Twitter: Giovanni Staunovo @staunovo: "more snow....": image.
Zoo animals play in the snow - China Daily.
Thursday 14 Jan 2021
Extreme Cold and Lower Renewable Energy Output Spike Electricity Prices in Europe and Asia - IER. "Spain registered its coldest temperature on record, at -35.6 degrees Celsius, and several areas of the country, including Madrid, are under 18 inches or more of snow and may get record-breaking snowfalls". Watch out for that global warming people.
New Listings Can’t Keep Up With Insatiable U.S. Housing Demand, Driving Price Growth - Mansion Global. "Demand from U.S. home buyers outstripped supply in December, helping drive the median sale price up 13% year-over-year to $334,300, according to new data from Redfin on Thursday". But there is no inflation.
5 Things You Should Know about Capital Gains Tax - The Street. Capital gains is mostly compensation for the inflation caused by government, except for bubbles that deflate. Capital gains tax confiscates some of the inflation adjusted asset value.
Online extremists are ignoring Trump’s call for calm - Politico. Social media have blocked all efforts by him to calm down his followers.
On Twitter: Prof. Steve Hanke @steve_hanke: "According to @prensa_latina, the average family household income in #Argentina rose by 10% in 2020. But, today I measure Argentina's #Inflation at a stunning 107.92%/yr! In inflation-adjusted terms, Argentinians’ 2020 income collapsed. It's high time Arg. #dollarized." chart. In most countries people are caught out by the same government fraud.
On Twitter: Stefan Wieler @stefan_wieler: "7 days ago, Elon Musk recommended the messaging service Signal. "Investors" bought the stock of the same name, a medical equipment firm. Price went from 60cts to $70 intraday. But 7 days later, it is STILL at $8.43, up 1815%. You still think we not in the mother of all bubbles?"
People Abandoning Facebook And WhatsApp -- Moving To Telegram - Talk Markets.
On Twitter: (((The Daily Shot))) @SoberLook: "China's trade surplus hit a record high. https://thedailyshot.com" chart.
Snippet Finance @SnippetFinance: "Amazing stats from @JPMorganAM outlook piece – debt levels are about to hit WWII peaks, the projected 2020 deficit is the largest since 1945. This interesting chart shows the fall in the corporate effective tax rate for large cap stocks over the years.": chart. Something has got to give.
For US president Trump to be shut out of the internet is like travelling back in time before every one could air their views, without depending on media reports, which are filtered by the opinion of an editor. Facebook was launched in 2004, Twitter 2006. Despite what some people claim, this is an attack on freedom of speech. If the goverment doesn't take action against the social media companies, the public should boycott them. The constant violence on television and in films must have a greater impact on the population.
On Twitter: SCMP News @SCMPNews: "China has a new maglev train prototype, and it could travel at up to 800km/h.": video.
On Twitter: Newsmax @newsmax: "Rep. Marjorie Taylor Greene announces her intentions to file articles of impeachment on Joe Biden on his first full day in office." video.
A Conceptual Vocal Synthesizer Made Out Of Chattering Teeth - Geekologie.
From 17 Jun 2017: Popcorn Nutrition Facts: A Healthy, Low-Calorie Snack? - Heathline.
WTI is already up to $52.15. Those low, low prices were apparently not sustainable.
Wednesday 13 Jan 2021
Exclusive: Parler CEO says social media app, favored by Trump supporters, may not return - Reuters.
On Twitter: Laura Ingraham @IngrahamAngle: "@SpeakerPelosi: wrote this 6 months after 2016 election. It's still up on #twitter with NO disclaimer!:
.... Nancy Pelosi @SpeakerPelosi: Our election was hijacked. There is no question. Congress has a duty to #ProtectOurDemocracy & #FollowTheFacts."
Trump impeached for a second time after US Capitol assault - Business Live.
Coronavirus (COVID-19) Vaccinations - Our World in Data.
Congress impeached and tried my ancestor after he left office. Trump could be next. - US Today.
YouTube Takes Down New Trump Video, Bans All Uploads From His Channel For 7 Days - Forbes.
Breaking | China’s Sinovac says Covid-19 vaccine has high efficacy after lower Brazil figure - SCMP.
The protesters who invaded the US Capitol Building will be charged with entering a government building with motivation and purpose.
Do higher commodity prices predict a weaker US dollar? The price of soybeans (blue) and corn (red) goes up when the dollar (green) weakens:
Tuesday 12 Jan 2021
On twitter: Greg Abbott @GregAbbott_TX: "The Supreme Court rejected a Democratic bid to force universal vote-by-mail in Texas, leaving intact a state law. We won’t compromise election integrity in Texas with voting schemes that are subject to fraud. We will protect elections in Texas.": Bloomberg. Bloomberg is apparently the only media reporting on this story, behind a paywall. The decision of the courts are inconsistent. They make a mockery of the independence of the judiciary.
On Twitter: Charles V Payne @cvpayne: "Breaking News. Florida Governor Makes Takes Moves to Divest State Funds from Apple, Amazon, Facebook, Google and Twitter. I'll ask @RepMattGaetz": text.
FACTBOX-U.S. companies suspend political donations after Capitol attack - Reuters. Monopolies tend to make political donations as a bribe.
On Twitter: zerohedge @zerohedge: "Yes, about that open internet...":
.... Twitter Public Policy @Policy: "Ahead of the Ugandan election, we're hearing reports that Internet service providers are being ordered to block social media and messaging apps. We strongly condemn internet shutdowns – they are hugely harmful, violate basic human rights and the principles of the #OpenInternet."
Sony shares more details of its VISION-S electric car concept, starts road testing - Electrek.
Is the WHO fit for purpose? (Part I) - Daily Friend.za.
On Twitter: zerohedge @zerohedge: "Trump says we want no violence, never violence". Does this mean he will now longer become a guerilla fighter for the resistance?
Statues could be erected for the Capitol Building invaders, but they really needed to be on horse back. Without the horse, it is just not a good statue.
Jessica Simpson Says Hearing Her Kids Laugh Is 'Most Healing Sound': 'Family Is Everything to Me' - People. Did they laugh about chicken of the sea? (Youtube).
Disney & LAPD Hauled Into Johnny Depp’s $50M Defamation Suit Against Amber Heard; Actor Wants Discovery Motion By ‘Aquaman’ Star Rejected' - Deadline. Does this mean it is over between them?
The $2000 grant the US Congress wants to hand out, is insignificant compared to the total US debt per worker of $580,000:
Monday 11 Jan 2021
Pfizer and BioNTech raise vaccine output target to 2-billion shots - Business Live.za.
Donald Trump: Official US government website goes down after 'prank' post says his presidency has ended - Sky News. For US president Trump to create a website with just text (like this one) instead of using Twitter would be extremely simple. What does that tell you about the competence of people in government?
First lady ‘disappointed’ by Trump supporters’ Capitol riot - Aljazeera.
Elon Musk Falls To Second Richest Person In The World After His Fortune Drops Nearly $14 Billion In One Day - Forbes.
On Twitter: Ron Paul @RonPaul: 'With no explanation other than "repeatedly going against our community standards," @Facebook has blocked me from managing my page. Never have we received notice of violating community standards in the past and nowhere is the offending post identified.': image.
On Twitter: Vox @voxdotcom: "BREAKING: House Democrats just introduced an article of impeachment against President Trump. It accuses him of “incitement of insurrection” for his role in fomenting the deadly occupation of the US Capitol on January 6." text.
Parler sues Amazon for site takedown, citing antitrust violation - Yahoo Finance.
On Twitter: Julia Chatterley @jchatterleyCNN: 'Social shutdown! Conservative social media site #Parler is taken offline. "It's bigger than Trump," says
@brianstelter reporting Big Tech's belated response.' video. That is ridiculous. Boycott the self-righteous sensored services Twitter, Amazon, Google, Facebook, and Apple.
On Twitter: George Gammon @GeorgeGammon: "If YOU’RE long the stock market, you’re long central planning and socialism. Let that sink in... I explain in 1, simple, fast step!!" video. In Japan debt is equal to money supply. In the US an enormous amount of debt exists outside the money supply. The US government will need to create so much money to bail out the stock market, the economy will collapse into the greatest depression ever.
Germany’s Merkel: Trump’s Twitter eviction ‘problematic’ - Washington Post.
Sunday 10 Jan 2021
Democrats promise quick move to impeachment if 25th Amendment push fails - CNN. Just imagine the laws the US Congress are going to make now to suppress freedom. Don't attack the lawmakers.
On Twitter: Jeremy Kappell @JeremyKappell: "HUGE military presence in Washington DC right now": video. Not enough for a military coup. Probably just a picnic.
Arnold Schwarzenegger compares Capitol siege to Nazi violence, tells Donald Trump: ‘You’re terminated’ - SCMP. The violence in movies which he contributed to leads to a violent society.
China Builds The World's Largest Electric Cruise Ship - InsideEVs.
Tesla’s Elon Musk stays true to his word, completes selling all his CA homes - Teslarati. There are two opposing factors at work. You need to own physical assets as protection against inflation, but the inflation will also impoverish workers, causing house prices to drop below replacement cost. So buy during a recession, and sell during a bubble.
Saturday 9 Jan 2021
On Twitter: Gab.com @getongab: 'You can't get banned from Amazon when you own your own servers like we do. It's not just "build your own social network." It's build your own: hosting service, payment processor, app store, web browser, email service, ecommerce platform. So that's exactly what we did.' Anyone with a computer can create their own server.
Parler removed from Google Play store as Apple App Store suspension reportedly looms - MSN. If the 50% of US population who voted for Trump boycott Google, Apple, Amazon and Facebook, what will this do the stock market index?
On Twitter: David Sacks @DavidSacks: "The free market argument for limiting free speech (ie build your own platform if you don’t like our moderation) evaporated as soon as Apple and Google banned Parler from their app stores. There’s no opportunity to build an alternative if the OS duopoly prevents it."
Amazon is cutting off Parler's servers - Engadget.
On Twitter: Rudy W. Giuliani @RudyGiuliani: "What happened to Parler?"
US total vehicle sales remain high in December, perhaps commuters avoiding public transport: Trading Economics.
Decoding the extremist symbols and groups at the Capitol Hill insurrection - CNN. The world is divided in 200 countries on the basis of ethnicity. Immigration laws are an attempt to keep undesirable ethnic groups out. The Capitol Building invasion seems the right feedback for a Congress that has done nothing about increasing violence like mass shootings.
On Twitter: Holger Zschaepitz @Schuldensuehner: "RIDICULOUS! Europe’s debt binge no concern for yield-starved investors: After Italy & Ireland racked up ~€160bn of orders in their 1st syndicated bonds issues of 2021, France & Belgium slated to tap mkt for another €30bn. Italy's debt ratio to jump >160% https://infobae.com/en/2021/01/09/europes-debt-binge-is-no-concern-for-yield-starved-investors/": chart.
Coronavirus Australia live: Three-day lockdown for Brisbane, new alerts in NSW - News.au.
Indonesian Authorities Have Lost Contact With Sriwijaya Air Flight 182 - Zero Hedge. A Boeing 737-500.
Trump considered deploying the national guard to US Capitol, NYT says – to protect his supporters - Business Insider SA.
On Twitter: Sarfraz Manzoor @sarfrazmanzoor: "My wife’s parents sent this and it was too good not to share- taken today near Dumfries": dog sled video.
Friday 8 Jan 2021
The fantasy-industrial complex gave us the Capitol Hill insurrection - Vox.
On Twitter: ISABELNET @ISABELNET_SA: "Is Bitcoin the biggest bubble in the history of mankind? https://isabelnet.com/?s=bitcoin h/t @BofAML": chart. There is no limit to how high the price of anything can go, including the stock market. It is when the price collapses that only physical benefits will provide support, for example the practical applications of gold, versus the cost of mining.
Permanent suspension of @realDonaldTrump - Twitter.
On Twitter Cassandra @michaeljburry: "Twitter just banned Donald Trump and deleted his account. This is so wrong. I am permanently banning myself in solidarity."
Another Donald Trump blog: Parler. Twitter and Facebook are making a mockery of freedom of speech. The advantage of the internet is that anyone can create their own website.
Tesla (TSLA) could make 1.5m cars per year when the German factory is at phase 3. At a 5% net profit margin on a $35,000 car, the profit would be $2.65B. Tesla's market cap of $778B would be a price/earnings of 294. The biggest seller in 2019 was General Motors with 2.9m vehicles (Automobilemag). Their profit was $6.73B, net profit margin was 4.8% in 2019, and price/earnings $43.32/$4.57 = 9.5. Elon Musk should sell his shares, and move on. He could buy a lot of other companies with that money. The forward risk reward is not worth it at the present Tesla share price.
Hyundai in ‘early talks’ with Apple over electric car - TechCentral. Apple has never sold anything at a competitive price. Will this be a cheap expensive car, or expensive cheap car?
On Twitter: Holger Zschaepitz @Schuldensuehner: "Good Morning from #Germany which is increasingly liable for other countries in the Eurozone. Target2 claims of Bundesbank on the rest of Eurosystem hit fresh ATH beyond €1tn milestone, at €1.136tn amidst massive QE. Claims have risen by €76bn in Dec.": chart. Typical socialism, in which one group subsidizes the rest.
"India predicts economy to shrink 7.7% in financial year" - FT. According to the chart below, India claims its economy has grown 10% per year for decades the gap between money supply growth (blue) and inflation (red) at constant velocity. They must be extremely prosperous by now.
Where are we at now in terms of the enormous US stock market bubble? The stock market (blue) used to trade at 50% of nominal economic output (green), which represent total sales for the economy. It is now trading at 2x sales. Lower interest rates have resulted in a search for yield. Money supply (red) provides a baseline for inflation. The difference between nominal economic output (green) and inflation (red) gives real economic growth, or standard of living. It has been in decline since 1997, which is were the stock market (blue) started to exceed economic output (green). In 2020 the money supply (red) shot up, without boosting the economy (green) yet. The extra money appears to have gone into asset bubbles. The stock market shows a typical exponential growth. The pattern tends to reverse with the same slope.
Thursday 7 Jan 2021
World Container Index - 07 Jan - Drewey. It has shot up to $5220.99 per 40ft container compared to $1300 in 2019. It increased in 2020 despite the economic decline due to COVID-19. That doesn't make sense. The Baltic Exchange Dry Index shows no increase since the 2009 Great Recession.
Carnival Cancels Even More Cruises in 2021 - Travel + Leisure.
On Twitter: Tiho Brkan @TihoBrkan: "We've seen this movie before. And no, the movie isn't different this time. Chart by @KailashConcepts" chart.
On Twitter: Shaun Kraisman @ShaunKraisman: "BREAKING: Zuckerberg says Facebook and Instagram are blocking President Trump from using their services indefinitely. More on @newsmax".
On Twitter: Tesla Owners of Silicon Valley @teslaownersSV: ".@elonmusk is now the richest person in the world at $190 billion". On Twitter: Elon Musk @elonmusk: "How strange".
On Twitter: marrrrrrc friedrich @marcfriedrich7: "Spain Tourism -90,2% YOY. In the First 11 months of 2020 only 18,3 million tourists came to Spain after 83,5 millions in 2019 (-78,1%)! 2020 is a total disaster!": chart.
Say what you will about gangster Trump, and his mob of congressional invaders, he does provide entertainment. In all countries, congress or parliament consists of ordinary folks with no particular qualifications or experience, and with no goals. Under the incompetence of these idiots, civilization is in decline everywhere. The act of ensuring that they get the COVID-19 vaccine before everybody else sums up their attitude.
If the Trump protestors who invaded the Capitol Building were the French Republicans who stormed the Bastille, heads would have rolled.
On Twitter: Amena Bakr @Amena__Bakr: "What in the world is going on in the US?!" image.
Wednesday 6 Jan 2021
On Twitter: Ramp Capital @RampCapitalLLC: "House of Cards (2021), colorized": image. Good photo for history books.
On Twitter: Reuters @Reuters: "Twitter says @RealDonaldTrump will be locked for 12 hours following the removal of tweets earlier in the day. More updates: http://reut.rs/3s1gPgo"
On Twitter: Jamie Hyneman @JamieNoTweet (Mythbusters): "I deleted my facebook page for ethical reasons, and followed all the instructions of how to do that. I did that over 90 days ago and it's still viewable. Any advice? The company is behaving like herpes. Getting rid of instagram was easy- it's odd facebook isn't."
Donald Trump-supporting rioters overwhelm police and storm US Capitol - Mirror.uk.
Trump Tells Pence To Show 'Extreme Courage' And Overturn Results - NPR.
Pence informed Trump that he can't block Biden's win - CNN.
The Circle is Complete as Democrats Take the Senate - Mish Talk. To have Trump campaign for the Republican candidates might have had a deterrent effect.
People are getting all excited by the price of commodities shooting higher, for example the corn price in an unspecified measure (US$ per bushel?): Nasdaq. This would be mostly the dollar being diluted. It is now 492. It was as high as 823 in 2012.
WHO team blocked from entering China to study origins of coronavirus - CNN.
On Twitter: YouTube @YouTube: "Ok, but how beautiful are these roses carved out of wood?": Rose Wood Carving: How to make a Flowers Wooden Painting.
Tuesday 5 Jan 2021
South African Covid variant appears to ‘obviate’ antibody drugs, Dr. Scott Gottlieb says - CNBC. Have previous studies not shown that antibody treatments do not work anyway?
On Twitter: Gold Telegraph @GoldTelegraph_: "BREAKING: President Donald Trump has signed an executive order banning transactions with eight Chinese apps including Alipay and WeChat Pay. The order goes into effect in 45 days. Things are really accelerating..." All Trump's executive orders will be cancelled in 2 weeks.
Developing | New York Stock Exchange says it would no longer delist three Chinese telecommunication stocks, in policy about-turn - SCMP.
On Twitter: Tiho Brkan @TihoBrkan: "There are more companies with a P/E ratio of over 100 than at any other time in the history of the market. I think it's 50% more than we had at the top in the 2000 Nasdaq bubble." — Paul Tudor Jones.
On Twitter: Sven Henrich @NorthmanTrader: "First we stole your savings income, then we transferred all the wealth to the top 1% and now we'll finish off the bottom 50% with inflation we'll refuse to measure. We are from the Federal Reserve and we are here to help." The Reserve Bank lends money, but governments increase the money supply every year permanently. Countries do not make it clear which department creates money, how much, or what the money is spent on. The United States Mint is a bureau of the Department of the Treasury. Besides printing physical notes, government can simply credit a bank account to increase money supply.
Monday 4 Jan 2021
VW Beetle converted to electric in a day - Youtube. Why are more cars not converted?
US stock markets started the year with a small decline: Dow Jones -1.25%, S&P 500 -1.48%, Nasdaq -1.47%.
PSA shareholders approve mega-merger with Fiat - Yahoo.com.
Europe has handed China a strategic victory - FT.
On Twitter: Charlie Bilello @charliebilello: "While the rate of increase has slowed, covid-19 hospitalizations in the US continue to hit new highs (128k today vs. 101k a month ago). Chart via @ycharts": chart.
Ivermectin is effective for COVID-19: meta analysis of 28 studies - Ivermeta. "Ivermectin is an anti-parasitic drug developed during the 1970s as a partnership between the Kitasato Institute in Japan and Merck & Co" - ISGlobal.
Immunology study finds protein critical to T cell metabolism and anti-tumor immune response - MedicalXpress.
11 GOP Senators vow to reject Biden’s Electoral College certification – here’s who they are - American Military News. Pathetic sore losers.
The percentage of money in circulation paid as dividends in blue increased from 4-5% before 1990, to 7-12% the last few decades. The percentage of money in circulation paid as wages in red declined from 80-90% until 1990, to 51% now.
Sunday 3 Jan 2021
On Twitter: Lex Fridman @lexfridman: "I remember when bitcoin was less than $20 ~8 years ago. Now it hits $32,000+. This is going to be a wild year for the economy. Hoping for the best." If Bitcoin's primary function is to be a medium of exchange, it should be stable. It is not linked to an underlying economy or useful mining product like gold. It is similar to a Ponzi or chain letter scheme.
Mystery as Chinese billionaire Jack Ma disappears from his own reality show after criticising regime - News.com.au.
Debt could either be used to supplement income for running expenses, or invested in assets. How much does the annual increase in debt contribute to wages? The annual increase in total US dept in blue increased relative to wages in red up to 2007. After the 2009 Great Recession borrowing slowed down. Debt increased sharply in 2020. Debt accumulates over time, which takes longer to repay.
Saturday 2 Jan 2021
[URGENT] What Just Happened To California! America Is Next! - Youtube.
On Twitter: david friedberg @friedberg: "if you don’t think inflation is already here you missed what happened to the stock market.. companies aren’t performing better, we are just inflating everything; financial assets first. everything else will follow." chart. The increase in the stock market should remain below the inflation because consumers are impoverished.
China says it will take action against U.S. delisting of its telecom firms - Reuters.
Russian annual oil output falls for the first time since 2008 on OPEC+ deal, pandemic - Reuters. The low demand for oil, and high price of the platinum-group metals is still inconsistent. Are commuters buying cars to avoid public transport, but not driving much? If it is funds buying up the metals, there is going to be a glut.
This chart compares total US debt in red, with Compensation of Employees in blue. Workers are directly or indirectly benefitting from the debt. It indicates to what extent people are living above their means. The ratio of debt to wages in green was 2.6x in 1952 and 8.7x in Q3 of 2020.
The S&P 500 price to sales ratio is at a record 2.74: Multpl.
The Wilshire 5000 stock index relative to US GDP (equivalent to sales for the economy) up to Q3 of 2020:
Friday 1 Jan 2021
NYSE To Delist Three Chinese Telecom Giants On Trump Executive Order - Zerohedge.
Senate overrides Trump's NDAA veto — the first such rebuke of his presidency - USA Today.
Thursday 31 Dec 2020
SolarWinds hackers accessed Microsoft source code, the company says - Reuters. If they could correct all the bugs in the Windows source code, this would be of great benefit to mankind.
French wine exporters say U.S. wine taxes a "sledgehammer" to sector - Reuters. There are enormous price differences on wines between countries, which suggest restrictions on free trade.
The present record US trade deficit is not the same dollars as 12 years ago. US trade deficit relative to M2 money supply:
Wednesday 30 Dec 2020
On Twitter: Brian Wesbury @wesbury: "A country can’t inflate its way out of debt. Inflation raises the cost of living, reduces the real value of incomes, harms creditors at the expense of debtors, raises interest rates. Inflation destroys the value of a currency. Stable money is as important as the Constitution."
Tuesday 29 Dec 2020
Apple shares reach all-time high - Mybroadband. It is trading on a price/earnings of $136.69/$3.28 = 42, and price/sales $136.69/$15.66 = 8.7. Revenue growth was 5.5%.
Frozen Food Is A Pandemic Winner - Hedgeye. Frozen foods are poor quality and much more expensive than fresh food.
On Twitter: Robin Brooks @RobinBrooksIIF: "What's so worrying about rising central bank balance sheets is that they're an absorbing equilibrium: once you go down this path, you can never go back. Fed attempts to shrink its balance sheet a few years ago ended with a market tantrum in Q4 2018. And that was the end of that." chart.
On Twitter: Squawk Alley @SquawkAlley: "Our customers are traditionally always long the market. A week ago, it has changed," says @IBKR's Thomas Peterffy. "It has never happened in our history that our customers as a whole were net short the market, but as of yesterday, that is the case. " The stock market should have collapsed in 2020 given the coronavirus impact and big increased in money supply. Now there is another 365 days to wait for a delayed reaction.
Sunday 27 Dec 2020
Great Depression SHOCKING Financial Corruption! - Youtube.
Friday 25 Dec 2020
On Twitter: David Larew @ThinkTankCharts: "The Buffett Indicator. What Would Warren Do??": chart.
On Twitter: David Larew @ThinkTankCharts: "Put Call Ratio - End of Year - End of Month - End of Bull? A time where people will hold on to any position, rather than pay taxes - I like paying taxes - it means you made money :) The Put Call Ratio is turning up. So sideline money isn't coming in LOL". chart. That means short sellers contribute to a stock market fall.
This chart shows the increase in US Federal Government Expenditure over time, due to inflation. The inflation is caused by government printing money to pay for those expenses, or hand out benefits in return for votes.
US Federal Government Expenditure portion of the economy (Gross Domestic Product) has remained below 25% until this year:
Thursday 24 Dec 2020
Brexit is done. Apparently young people didn't take the referendum seriously, and can now start the process to rejoin the EU.
Fox News' Maria Bartiromo thought she was interviewing the CEO of Smithfield Foods. It was an impostor - CNN. It is not difficult to imitate a CEO. Just make overly optimistic statements about everything. Interviewing a CEO is a waste of time.
On Twitter: The Spectator Index @spectatorindex: "JUST IN: Boris Johnson says that for the first time since 1973, the UK will be an 'independent coastal state with full control of our fishing waters'." UK fishing industry, or Brexit's red herrings - DW: "That is a mere 0.12% of GDP involving under 0.1% of the UK's 33-million national workforce. .... Overall, the UK imports 70% of the fish it eats"
Wednesday 23 Dec 2020
More Alarm Bells Are Being Raised About Sky-High Tech Valuations - The Street.
Tuesday 22 Dec 2020
On Twitter: Sydney Watson @SydneyLWatson: 'How did we go from "flatten the curve" to "stay home until you accept communism"?' Debt has already grown to levels which makes socialism unavoidable, in the absence of an economic revolution.
Trump Sends “Disgraceful” COVID Relief Bill Back To Congress, Demands Higher Direct Payments - Breaking911. They better hurry up with the payments. Money is becoming worthless, at the rate of money supply growth.
US officials finally found a case of a dead person voting, and it was for Donald Trump - Business Insider SA. If Trump lost against a dead candidate, the election would have been more entertaining, well except for the dead guy.
U.S. sues Walmart for alleged role in fueling opioid crisis- WSJ - Reuters.
Existing-Home Sales Down 2.5% MoM, Up 26% From 2019 - Advisor Perspectives.
Congress passes legislation to create Smithsonian museums on Latino and women’s history - USA Today.
'Don't worry about me': Australian writer detained in Beijing declares innocence in letter to supporters - SMH.
Monday 21 Dec 2020
Jay Leno's Garage! America's Most Radical Pickup Truck Jay Leno’s Garage - Youtube.
Chaos at Britain's borders after France shut down the Eurotunnel and banned UK lorries - Business Insider SA.
The moment the stock market threatens to go down, CNBC gives Mnuchin an opportunity to try and talk it up with stimulus talk.
On Twitter: Investing.com @Investingcom: " *TESLA FALLS 5% IN FIRST DAY OF TRADE ON THE S&P 500".
On Twitter: Tesla Owners Silicon Valley @teslaownerssv: "Tesla: +10,981% stock up in the past decade. What a journey. @elonmusk"
On Twitter: Tulsi Gabbard Hibiscus @TulsiGabbard: "$600 is a slap in the face to every American struggling due to the pandemic. You deserve better. I voted against the 5,593-page spending bill that gave billions to corporate interests, the military industrial complex & other countries, leaving crumbs for you who need help most."
Hill leaders reach $900 billion Covid relief deal in breakthrough following partisan disputes - CNN. Will they pay for it with taxes, which mostly cause inflation poor people pay for, or by printing the money, which also causes inflation?
Sunday 20 Dec 2020
On Twitter: Stalingrad & Poorski @Stalingrad_Poor: "Trillions bailing out banks, which now can buy back their stocks. Billions for the airlines who end up laying off employees. And now $600 for each adult who probably is $10-20K in back rent. Each trip to costco for a family is at least $200. This is a joke."
Sydney auctions: wrecked terrace sells for $2.65 million, large blocks attract multiple bidders - realestate.com.au.
Saturday 19 Dec 2020
In Q3, US total debt (blue) has risen to $81.8T, and government debt to GDP has fallen back to 127%. More debt leads to more inflation, which lowers real wages, which requires more debt to keep the economy going. "Like a circle in a spiral. Like a wheel within a wheel. Never ending or beginning" (The Windmills of Your Mind).
Wednesday 16 Dec 2020
British American Tobacco wins approval to test Covid vaccine on humans - Guardian.
Monday 14 Dec 2020
'New variant' of coronavirus identified in England - BBC.
US orders emergency action after huge cyber security breach - FT.
People are confused by the US$ price of commodities going up. It is mostly the dollar that is weakening. The iron ore price relative to the US M3 money supply has actually declined. Unlike gold, there is an abundance of iron ore on earth:
Sunday 13 Dec 2020
Survival Of The Biggest - Talk Markets.
Ultra-High-End Shopping Explodes As Wealthy Splurge On Luxury Goods - Talk Markets. Capital gains on asset bubbles are eventually spent on goods which add to inflation (the limited government inflation measure).
COVID-19: Germany to go back into lockdown over Christmas - Sky News.
On Twitter: Daniel Lacalle @dlacalle_IA: "The ECB owns more than 30% of all debt of most Eurozone economies and its purchase program exceeds all net issuances after redemptions. This is creating a massive bubble in sovereign debt large long-term implications as ECB disguises real risk and solvency problems." chart, chart. Taking over debt to keep interest rates down. The debt is paid for by printing money, thus savings are inflated away. More people are made dependent on government handouts.
Former Cuomo Aide Accuses N.Y. Governor Of Sexual Harassment - Huffpost.
Germany's Merkel: Every opportunity to reach Brexit deal highly welcome - Reuters. The purpose of trade deals is to avoid import tariffs. In a free market economy, there should not be imports tariffs to begin with. The UK will just have smuggle goods into the EU.
Saturday 12 Dec 2020
On Twitter: Benny @bennyjohnson: "The crowd at the Army-Navy game greeted President Trump with “USA” Chants as he made his entrance Flag of United States": video. So Trump could either stage a military coup, or lead a Confederation resistance movement against the military.
On Twitter: budiman @BudimanJayaS: "Folks. 1970’s was a decade of global general collapse of economy & only remedied when Paul Volcker (the one which contributed by convincing Nixon to abandon gold standard) jack up interest rate to 20% & start a 2 year recession in early 80’s."
The Real Gross Domestic Product in red is the economic growth declared by government, which has a vested interest in declaring positive numbers. The Velocity of money flow in blue is the economic output produced in one year for the same amount of money in circulation. The velocity suggest there was slow economic growth from 1964 to 1981, high growth from 1991 to 1995, and economic decline since.
Friday 11 Dec 2020
Supreme Court rejects Texas lawsuit to overturn Joe Biden’s election victory - Boston.
Walt Disney's (DIS) share price has shot up to $175.72. They made a loss for the year to Sep. Price/sales is $175.72/$36.17 = 4.9.
Airbnb worth more than 3 hotel giants combined after its stock popped 143% on first trading day - Business Insider SA.
Trump Named ‘Loser Of The Year’ By German News Magazine Der Spiegel - Huffpost.
Thursday 10 Dec 2020
Occupancy Plunges to 70% at San Francisco Luxury Apartment Towers across from Twitter Headquarters: a Broad Phenomeno - Wolf Street.
The State of American Used Cars & Trucks: Amazing Charts of a Market Gone Haywire and Now in Process of “Normalizing” - Wolf Street.
Trump asks Supreme Court to invalidate millions of votes in battleground states - CNN.
What the US needs is a civil war between the Republican and Democratic states. Will Trump lead the Confederate troops into battles, between golf games? Will Scarlett Johansson play the role of Scarlett in a remake of the classic movie: Let go the Wind.
Christmas Tree Varieties / Types - Pick Your Own Christmas Tree.
Wednesday 9 Dec 2020
On Twitter: Steve Liesman @steveliesman: "With 17 states now joining Texas to overthrow the results of the election, it is now clear that outright opposition to democracy is not at the Trumpian fringe but rather at the outright center of the Republican Party."
On Twitter: ABC News @ABC: "NEW: Unmanned SpaceX Starship test flight explodes during landing. There was no one on board the ship. https://abcn.ws/39WT56v": video.
Facebook sued by FTC, states over alleged abuse of monopoly power - Cnet.
Tesla, Trading at $650, Gets $90 Price Target From JPMorgan - The Street.
UK warns people with serious allergies to avoid Pfizer vaccine after two adverse reactions - Reuters.
Men 3 Times as Likely to Require Admission Into ICU with Coronavirus: Report - People. "... of the 12,000 ICU admissions, about 8,000 were men and 4,000 were women". That would be 2 times.
Tuesday 8 Dec 2020
On Twitter: Chi @chigrl: "#US-#China phase one trade deal October report card is out!! Spoiler alert: China has purchased less than half of the US exports it had promised for this year (agriculture has been the clear leader, but still lagging in "promised" purchases)": chart.
On Twitter: Quoth the Raven @QTRResearch: "The fallacy these Dems subscribe to - that we can “bail out” states is hilarious. It’s the COUNTRY that needs a bailout. The US is BROKE. Only difference is states don’t have printing presses. We are robbing Peter to pay Paul. Pelosi and Schumer are clueless."
AG Paxton Sues Battleground States for Unconstitutional Changes to 2020 Election Laws - Texas Attorney General.
Monday 7 Dec 2020
Report: Trump to sign order giving US coronavirus vaccine before foreign nations - American Military New. The vaccine should be auctioned off to the highest bidder.
Sidney Powell’s Georgia Lawsuit Gets Thrown Out In Court - Forbes.
Chick-fil-A sues top poultry suppliers alleging bid-rigging, price fixing - Reuters.
On Twitter: Evan Siegfried @evansiegfried: "Sweden tried to achieve herd immunity through no lockdowns, restrictions or masking. Last week, they hit 7,000 deaths. Denmark, Finland and Norway, all similar-sized countries who instituted safety measures, have just 878, 415 and 354. Herd immunity failed."
Australia is a big iron ore exporter to China. Is it impacted by a so-called trade dispute? Abs.gov.au: In October "Australia exported a record $13,465m of metalliferous ores, the majority of which was iron ore (81%), which also reached a record high export value of $10,945m." Total exports were -2.9% lower in October than last year. Iron ore was 35.8% of total exports.
China's goods exports in US$ has shot up to new highs in Nov: Trading Economics. The amount of dollars have increased 25% in a year, and are worth a lot less. Relative to US M2 money supply, exports have declined:
The iron ore price has shot up to $141/ton. It is still far from the previous highs around $180. There is no shortage of iron ore in the earth's crust. Usually supply increases to meet demand, which is followed by oversupply like in 2016. This time around it will be more difficult to grow economies with more debt.
The Swiss Franc CHF isn't going to save you from inflation, but the gold price in CHF has only increased 9.8x over the period of the chart compared to the US$ 47.4x.
Sunday 6 Dec 2020
Prof. Steve Hanke @steve_hanke: "On this week's #Inflation dashboard, #Venezuela, #Zimbabwe, & #Lebanon hold down the top 3 spots. But the spotlight is on #Argentina & #Nigeria, where @alferdez & Sleepy @MBuhari remain in denial & idle while inflation rages": table.
Volkswagen Expands Its Workplace Charging Infrastructure In The U.S. - InsideEVs. The big car manufacturers are likely to sell far more electric cars than Tesla.
White House vaccine chief praises Biden's plan to ask Americans to wear masks for first 100 days - CNN.
Trump pressured Georgia governor in call to help overturn Biden's win in state - CNN. If true, adds to the entertainment.
‘We’re winning’: Trump tells supporters at first post-election rally - SCMP. Has any candidate been so insane that they campaigned after the election?
Saturday 5 Dec 2020
Rudy Giuliani’s ‘Voter Fraud’ Witness Accused Of Framing Woman For Stealing Sex Videos - Huffpost.
Like boats in a rising tide, the rising US stock market has pushed up most stocks to very high valuation. Wages have hardly gone up, which means most of the increased consumer demand is funded by debt. Due to the limits imposed by the economy, as much money must be lost on the stock market on the way down, as was made on the way up. The biggest losers could be pensioners whose retirement contributions were invested at high valuations, and companies who bought back shares at high levels.
U.S. government ordered to reinstate protections for 'Dreamers' - Reuters.
Chinese professor pleads guilty to lying to FBI in Huawei-related case - Reuters. It sounds like the FBI tried to make up charges.
Candle recall: Nearly 143,000 candles sold at Dollar Tree recalled as high flames could pose fire, burn hazards - USA Today. The vast majority of countries do not recall anything. They operate on the survival of the fittest principles. Those who survive the candles will be faster and stronger. They will be faster as the move away from the fire.
On Twitter: Dick King-Smith HQ @DickKingSmith: "Please enjoy these ducks changing their minds.": video.
Friday 4 Dec 2020
High Grade Tractor @EconomicAlpha: "#Gold producer Q320 AISC, average realized price, profit margin, and valuation multiples. Source: Market Intelligence": table.
On Twitter: Pomp @APompliano: "The US money supply (M2) has increased by over 25% in the past year for first time ever. The bottom 50% of Americans are having their wealth destroyed in real time. They hold no investable assets. (@SpencerKSchiff) We must educate our citizens so they can protect themselves."
On Twitter: Tulsi Gabbard Hibiscus @TulsiGabbard: "I spoke on the House floor today urging passage of the #MOREAct to decriminalize marijuana & expunge criminal records of Americans caught up in the failed war on drugs. It passed 228-164. This change is long overdue and comes down to one fundamental principle: freedom."
On Twitter: RBA @corptrader: "Total US call option volume. Biggest bubble of all time. Enjoy!": chart.
On Twitter: Jim Bianco @biancoresearch: "Fun chart to ponder on a Friday afternoon": Car manufacturers.
Pentagon blocked Biden's intelligence transition team from meeting with agencies - CNN.
Thursday 3 Dec 2020
"It's a Bloodbath": Layoffs Underway at Disney - The Hollywood Reporter. The share price is at all time high, because they will deliver products and service without people.
On Twitter: Peter Schiff @PeterSchiffL "2021 could be the year that Americans begin to find how much all this free government actually costs. The bill for the bailouts and stimulus will come in the form of a collapse in the value of savings and incomes, as the cost of living begins a long overdue explosive move higher."
Labor Department's Jobless Claims Have Been "Consistently" Inaccurate, Government Watchdog Says - Zero Hedge. It is ironic that a Department of Labor would keep wages down by under-reporting inflation.
UN Says 233,000 Yemenis Dead After 6 Years Of Saudi-US Coalition Bombing - Zero Hedge.
Oil drops as OPEC+ resume talks on output cut extension after impasse - Reuters. At the moment, the oil price have actually shot up by +0.15% for WTI and +0.27% for Brent.
Donald Trump’s Mein Kampf - WSWS. If Trump leaves the presidency without a coup it will be bad for TV ratings.
Two years since the Camp Fire destroyed the town of Paradise, California - WSWS. "Rather than put forth a comprehensive plan to prevent a repeat of the Camp Fire disaster ...."
Wednesday 2 Dec 2020
Mayor of L.A. Issues Emergency COVID-19 Order to City: "It's Time to Cancel Everything" - The Hollywood Reporter. After years of producing boring television shows and films, COVID-19 has put a stop to it.
On Twitter: Donald J. Trump @realDonaldTrump: "Statement by Donald J. Trump, The President of the United States. Full Video: https://fb.watch/27KawkLq3E/": video. "This may be the most important speech I have ever made". The question is not why Trump lost despite receiving so many votes, but why so many voted for him.
On Twitter: Charlie Bilello @charliebilello: "US Covid-19 hospitalizations move above 100,000 for the first time. Chart via @ycharts": chart.
The Fraying of the US Global Currency Reserve System - Lyn Alden.
On Twitter: Investing.com @Investingcom: "Fed chair Powell says middle of next year may be the light at end of the tunnel, economy could be healthy". An economy with that much debt cannot be described as healthy. Low interest rates are a sign of a dead economy. Interest rates have declined for decades to encourage more borrowing to keep the economy growing on debt.
Joe Biden fitted with moon boot after injuring foot playing with dog - News.com.au.
‘It has to stop’: Georgia election official vents anger at Trump - SMH.
More evidence that cellular 'death by iron' could be promising avenue of cancer treatment - MedicalXpress.
Massive Arecibo radio telescope featured in James Bond movie collapses - SCMP.
On Twitter: Pee-wee Herman @peeweeherman: "Heading into my secret lair like... upinstone/IG": video.
On Twitter: Nature & AnimalsPalm tree @AnimalsWorId: "How to keep your cats occupied": video.
Australia claims to be out of a recession. This chart shows how money supply in blue has shot up relative to economic output in red. The economic output generated by the money in circulation (velocity) in green has fallen from 2.4 in 1980 to 0.8 in Q2. The most likely reason for the decline is poorer consumers. Workers have much less money left over for discretionary spending. One reason could be the high cost of housing which is left out of economic statistics.
Tuesday 1 Dec 2020
The Nasdaq 100 has reached new highs, and the S&P 500 is regularly making new highs. This means stock markets have further to fall.
On Twitter: Peter Schiff @PeterSchiff: "Neither Fed Chair Powell nor Senator @ewarren understand the difference between money people earn by producing goods and providing services and money the Fed prints and gives to people for doing nothing. The former grows the economy. The latter just increases the cost of living."
Tesla CEO says electric cars will double global electricity demand - Reuters.
From 19 Aug 2019: How far can Tesla's Model 3 really go? On-road measurements reveal the 'affordable' electric car falls short of its claimed range by 90 MILES - This is Money UK.
From 31 Dec 2014: What is the real range of an electric car? Tesla helps us find the answer. - Extreme Tech.
This Surveillance Tool Can Find You With Just Your Telephone Number — Did These 25 Countries Buy It? - Forbes.
People welcome government "stimulating" the economy with money. If that were possible, Venezuela and Zimbabwe would be prosperous. All that happens is that workers are impoverished by inflation.
The FRED chart compares average wage in blue with the Wilshire 5000 in red. Workers are impoverished whilst the government enriches investors.
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