Posts Tagged ‘defense bill’

The Expiring Economy

Tent City America

tent cityThe Expiring Economy

Courtesy of PAUL CRAIG ROBERTS, writing at CounterPunch 

Tent cities springing up all over America are filling with the homeless unemployed from the worst economy since the 1930s. While Americans live in tents, the Obama government has embarked on a $1 billion crash program to build a mega-embassy in Islamabad, Pakistan, to rival the one the Bush government build in Baghdad, Iraq.

Hard times have now afflicted Americans for so long that even the extension of unemployment benefits from 6 months to 18 months for 24 high unemployment states, and to 46 – 72 weeks in other states, is beginning to run out. By Christmas 1.5 million Americans will have exhausted unemployment benefits while unemployment rolls continue to rise.

Amidst this worsening economic crisis, the House of Representatives just passed a $636 billion “defense” bill.

Who is the United States defending against? Americans have no enemies except those that the US government goes out of its way to create by bombing and invading countries that comprise no threat whatsoever to the US and by encircling others--Russia for example--with threatening military bases.

America’s wars are contrived affairs to serve the money laundering machine: from the taxpayers and money borrowed from foreign creditors to the armaments industry to the political contributions that ensure $636 billion “defense” bills.

President George W. Bush gave us wars in Iraq and Afghanistan that are entirely based on lies and misrepresentations. But Obama has done Bush one better. Obama has started a war in Pakistan with no explanation whatsoever.

If the armaments industry and the neoconservative brownshirts have their way, the US will also be at war with Iran, Russia, Sudan and North Korea.

Meanwhile, America continues to be overrun, as it has been for decades, not by armed foreign enemies but by illegal immigrants across America’s porous and undefended borders.  It is more proof of the Orwellian time in which we live that $636 billion appropriated for wars of aggression is called a “defense bill.”

Who is going to pay for all of this? When foreign countries have spent their trade surpluses and have no more dollars to recycle into the purchase of Treasury bonds, when US banks have used up their “bailout” money by purchasing Treasury bonds, and when the Federal Reserve cannot print any more money to keep the government going without
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ValueWalk

Ant Group Overhaul Could Lead To IPO After All

By Michelle Jones. Originally published at ValueWalk.

Ant Group’s initial public offering (IPO) could get back on track if it falls in line with what Chinese regulators want. The company is reportedly planning a major overhaul in response to pressure from then. News reports indicate that Ant Group intends to become a financial holding company under the oversight of China’s central bank.

Q4 2020 hedge fund letters, conferences and more

Major overhaul planned

Sources told Fox Business that Ant Gr...



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Kimble Charting Solutions

Bond Rally Here Sends A Bearish Message To Stocks

Courtesy of Chris Kimble

Bonds have experienced a large percentage decline since the highs of last March. Have bonds fallen enough?

If they rally, could they be sending a bearish message to stocks?

This chart looks at Govt Bond ETF (TLT) over the past 20-years. TLT has created a series of higher lows and higher highs inside of the rising channel (1). An upside breakout took place last year as stocks started tanking in late January, as news of Covid started taking place.

The large decline in TLT currently has it testing the top of the channel, which now comes into play as support at...



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Zero Hedge

10Y Yield Tumbles Below 1.00% As Liquidations Lash Stocks

Courtesy of ZeroHedge View original post here.

As the short-squeeze malarkey accelerates this morning...

Source: Bloomberg

Funds are being forced to liquidate their longs to cover losses/margin...

Source: Bloomberg

And that is weighing on the broad market...

...



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Phil's Favorites

Gamestop Monday....WTF Happened?

 

Gamestop's crazy run on Monday didn't stop there. Take a look at Gamestop Tuesday, Gold Edition. The daily chart doesn't show it but GME surged another 60 points in after-hours trading! 

Source: Investors.com

Gamestop Monday….WTF Happened?

Courtesy of Howard Lindzon 

I like this ‘explainer’ post from ...



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Biotech/COVID-19

South African scientists who discovered new COVID-19 variant share what they know

 

South African scientists who discovered new COVID-19 variant share what they know

Health care workers and patients in the temporary outside area Steve Biko Academic Hospital created to screen and treat suspected Covid-19 cases in Pretoria. Alet Pretorius/Gallo Images via Getty Images

Courtesy of Willem Hanekom, Africa Health Research Institute (AHRI) and Tulio de Oliveira, University of KwaZulu-Natal

Late last year the ...



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Digital Currencies

Ethereum Surges To New Record High As DeFi Boom Re-Accelerates

Courtesy of ZeroHedge View original post here.

Coins that power decentralized finance (DeFi) protocols are soaring recently as bitcoin treads water.

While bitcoin grabbed all the headlines early on in the year, it is the rest of the crypto space that is stealing its thunder most recently as Ethereum, the backbone of the smart contracts that define much of the DeFi space, has drastically outperformed...

Source: Bloomberg

That is the highest for ETH relative to BTC since

...

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Politics

Far-right groups move to messaging apps as tech companies crack down on extremist social media

 

Far-right groups move to messaging apps as tech companies crack down on extremist social media

Far-right groups like the Proud Boys, seen here marching in Washington, D.C., on Dec. 12, are increasingly organizing their activities on messaging services like Telegram. Stephanie Keith/Getty Images

Courtesy of Kevin GrishamCalifornia State University San Bernardino

Right-wing extremists called for open revolt against the U.S. government ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Saturday, 11 July 2020, 05:26:16 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: This is lack of liquidity means support is likely to break if it is tested hard!



Date Found: Saturday, 11 July 2020, 09:51:58 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: Nasdaq losing momentum.



Da...

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Mapping The Market

The Countries With The Most COVID-19 Cases

 

The Countries With The Most COVID-19 Cases

By Martin Armstrong, Statista, Jan 12, 2021

This regularly updated infographic keeps track of the countries with the most confirmed Covid-19 cases. The United States is still at the top of the list, with a total now exceeding the 22 million mark, according to Johns Hopkins University figures. The total global figure is now over 85 million, while there have been more than 1.9 million deaths.

You will find more infographics at ...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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