Economic pressures

[Danny B]

American Cancels 1,500 Flights On Halloween Weekend, Denies Any Relation To Vaccine Mandate
American’s Chief Operating Officer David Seymour blamed “severe winds

Will China Pop The Global Everything Bubble? (Spoiler Alert: Yes
...the popping of the global Everything Bubble is not Xi's goal; it is the inevitable second-order effect (collateral damage) of China's debt-speculation bubble popping...

"10 To 20 Asset Managers Are Being Liquidated" - Rate Vol Exploding Just As Funds Pile Into Repo Trade That Blew Up Market
"When you don't allow business cycles to function and you don't allow price discovery for long periods of time..., they destroy things - and that is what is happening."

Large-Scale Russian Troop Movements Along Ukraine Border Spark Alarm In US & Europe
Alarmist WaPo report cites "Russian military trains and convoys moving large quantities of military hardware, including tanks and missiles, in southern and western Russia."
The vast majority of the Ukrainians want no problem with Russia. Ukraine has been take over by a small cadre of very vocal hardliners..... most likely zionist war hawks of some stripe. The Ukrainians have been reluctant to take back popular control. This may very well wake them up to get their $hit together and, take back control of their country.

The IMF Hates Bitcoin Because It Loves Total Control

Brexit Blowback: European Fishing's Dependence On British Waters
...European fishing is very dependent on British waters.

Venezuelans Turn To Gold Nuggets As The Local Currency Implodes

Bitcoin: A Second Chance For The Muslim World?
Bitcoin is the sound money that the Muslim world needs to accelerate into the future.
NOT A PRAYER.

The $1 Trillion Child Tax Credit Is Really Universal Basic Income
“It has kicked free of any connection to income or taxes and is now a full-fledged entitlement.”

The Bonfire Of The Currencies?
public and private moneys are entering into a sustained rivalry, with far-reaching implications for markets and politics.
EXCELLENT comments on this article

[Danny B]

An unusual viewpoint
https://tapnewswire.com/2021/10/the-...ing-to-an-end/

The Federal Reserve is in NYC.
The mega banks are in NYC
The crooked courts are in NYC
https://wallstreetonparade.com/2021/...it-supervises/

There is a growing movement to get rid of private banks and, just use the FED for everything.
Biden’s Nominee Omarova Has a Published Plan to Move All Bank Deposits to the Fed and Let the New York Fed Short Stocks
https://wallstreetonparade.com/2021/...-short-stocks/
So, what can we expect if the banks want to maintain total control
BUT
The FED wants to have total control?

Hedge Fund CIO: Our New Reality Will Depend On The Fierce Clash Between Centralized And Decentralized Power
The conflict will affect every industry, institution. And of course, understanding what is likely to become valuable in this new world that few can yet imagine, let alone understand, presents an enormous opportunity."

[Danny B]

By This Time Tomorrow, the World Will Have Changed Dramatically – GNEWS
NO idea

Is Something About To Happen In Ukraine? Rumors Of Russian Heavy Equipment Moving
Ex-US Admiral Urges Washington to 'Beware the Bear' Amid Collapse of Russia-NATO Ties
Europe On Edge After Russia Unexpectedly Halts Gas Shipments Via Key Pipeline


US Coal Miners "All Sold Out" For 2022

Drill for 2,000 rockets a day and internal strife - IDF preps for war
Some years ago, the IDF said that they would receive 11,000 rockets a minute for a total of 235,000
Israel Launches Massive Drill Simulating War Against Iran, Hezbollah

Zillow Caught Holding The Bag As 93% Of Phoenix 'Flipping' Portfolio Listed At Loss
The FED pumps money to Blackrock
Blackrock buys up houses by the thousands
Evidently, Blackrock is not buying up what the flippers are flipping.

"The Fire Is Hot": Why Morgan Stanley Is Bracing For A Collapse In The US Consumer Early Next Year
"If our analysis is correct, we think that this bullish trend can continue into Thanksgiving, but not much longer."

Interest rates will skyrocket if Fed keeps printing money – Michael Pento – USA Watchdog
The FED prints money to drive down interest rates.
This causes price inflation
Price inflation means that all investments lose money unless interest rates go very high.
The CBs print so much "money" that they can buy up all investments that the bond vigilantes refuse to buy.

10/31 Three days will reveal global alert level on inflation – Yahoo

[Danny B]

Think about this
In 2022, “things aren’t gonna get done” on an absolutely massive scale – TMIN

Will China pop the global everything bubble? Yes – Charles Hugh Smith
China tried to create a new operating system,,, something like communism-lite
Their predatory policies and expansionist policies turned their neighbors into enemies. They stole the water from 2 billion people. They heavily over-fished everywhere in the world.
They grossly over-reached. This might now have been a killer if China wasn't so saturated with corruption.
China built an aircraft carrier,,, useless in a war with other major powers. It was intended to frighten & threaten client States that had borrowed money.
The most basic problem; China moved 300 million self-sufficient peasants to the cities and, put them to work.
Much of the employment is melting away.
11/01 China’s economy slows as Beijing wrestles with debt – AP
11/01 China’s oil stockpile ‘low as it can go’ ahead of OPEC+ meet – Yahoo

11/02 Greyerz — the greatest crisis in history is about to be unleashed – KWN
No mention of world wars,, the Black Death, the fall of Rome, the Holdomar, Pol Pot, Stalin

11/02 Joining the ‘great resignation’? Here’s how to handle your 401(k) – CNBC

11/01 Seizing everything: the theft of the global commons – part 1 – OffGuardian

Bank Of America Sees Oil Hitting $120 By June; Could Rise Much Higher

China's "Satellite Crusher": Space Pearl Harbor Is Coming
On October 24, China launched its Shijian-21 into orbit. The satellite, according to China Aerospace Science and Technology Corp., is "tasked with demonstrating technologies to alleviate and neutralize space debris." As Beijing sees it, American satellites constitute "debris."
Russia also has a satellite killer

Bitcoin Mining And The Global Semiconductor Shortage Are On A Collision Course

How Central Banks Unleashed A Devastating 6-Sigma VaR Shock
"It is a plain and simple Value at Risk (VaR) shock driven by positioning and the inability to appropriately calibrate central bank reaction functions in such an uncertain environment."
You are going to see a LOT of "value at risk"

This article is very bad news. Pray that the whole system breaks down soon.
https://banned.video/watch?id=618035e9464d3428836f691e

Farmer Leader Sets Deadline to Revoke Farm Laws, Threatens 'Consequences' For Modi Govt
I suspect that this will turn serious.

[Danny B]

Futures Flat Ahead Of Historic Taper Announcement, China Warns Of "Downward Pressure" On Economy

Hedge Fund CIO: "There Is Too Much Capital In The World, And It Needs To Be Destroyed"
"Financial repression is the most painful destruction tool as it provides no quick recovery, it instead stretches losses over a generation."

Frankenstein Bonds Turning On Central Bank Creators
The bond vigilantes are back, rising from their long sleep, and this time they are targeting complacent central banks instead of profligate politicians.

Incredibly Bad Idea Gains Steam At COP26: Tariffs To Combat Climate Change
More money for more bureaucrats

China Junk Bond Yields Hit All Time High As Property Default Contagion Spreads, Home Sales Plunge 32%
There's no saving China. They claim that their property is worth $54 trillion

Tracking A Journalistic Cliché: "The Worst Attack On Our Democracy Since The Civil War"
Just a reminder. The big banks in the north forced the government to enact tariffs on the south.
Civil War was about tariffs and economics, not slavery
For 72 years, Northern special interest groups used these protective tariffs to exploit the South for their own benefit.
President Lincoln insisted that the war was not about slavery or black rights; it was a war to preserve the Union.
I have two great enemies, the Southern army in front of me and the bankers in the rear. And of the two, the bankers are my greatest foe.”
The Morrill tariffs from the northern bankers were the cause of the civil war.

11/02 Supply chain crisis risks taking the global economy down with it – Yahoo

11/02 The ‘great resignation’ is burning out those who stay – CNBC

11/02 Wall Street sounds alarm over stock markets ignoring bond rout – Yahoo
11/02 Australia drops yield target, joins global policy unwinding – Yahoo
11/02 Bond rout forces Australia policy shift in lesson for the world – Yahoo
This train is ROLLING

11/02 U.S. Treasury increases Q4 borrowing estimate – Reuters
So, the Treasury needs to borrow loads more
At the same time, the FED is going to buy less.

[Danny B]

Peanut butter & jelly
Salt & pepper
Plague & famine
Get Ready For Food Rationing
"Korean News claims a kilo of bananas now costs around $45 USD or around $6.40 per banana. To put that into perspective, the average North Korean earns $5.5 to $11.1 per day, but there are no official records. Experts believe the country will be 1.35 million tons short of food this year"
Korean News claims a kilo of bananas now costs around $45 USD or around $6.40 per banana. To put that into perspective, the average North Korean earns $5.5 to $11.1 per day, but there are no official records. Experts believe the country will be 1.35 million tons short of food this year
Chinese rush to stock up on food as government’s warning prompts confusion, brief panic-buying


OK, you get it. They are trying to get everybody to hoard food to create shortages.
I suppose that they will be successful.

Ukraine must be ready to impose 'martial law' And prepare 'bloodbath' for Russia in event of invasion, former Kiev army chief says
Not a chance in hell that Russia will invade anybody. Ukraine is melting down and, they are trying to deflect attention.

Grocer - 'Out Of 145 Orders, Only 41 Were Delivered' Thanksgiving Shortages And Prices Spikes 'Should' Awaken Americans That Trusted The MSM Lies

Massive energy and power crunch coming soon as US coal producers have already sold their coal inventories for 2022

Good article from C.H.Smith
https://charleshughsmith.blogspot.co...eal-world.html

11/04 Monstrous money printer Bank of Japan has stopped printing money – WS
11/03 Fed to start tapering bond purchases later this month – CNBC
11/03 Fed to taper bonds, show patience on rates: decision-day guide – Yahoo

11/04 Uranium stocks soar as China plans 150 nuclear reactors – Zero Hedge
If the Chinese build their reactors to the same quality standards as their dams, they are in deep trouble.

11/04 US spends more on defense than the next 10 countries combined – Reason
11/02 The military’s social policy suggests a lack of real-world threats – Zero Hedge

Blain: The Consequences Of Manipulating Markets Are "About To Hit Us Hard"
...walls of money have fueled a whole series of secondary consequences and investment behaviours that make zero sense in a real world...

Traders Steamrolled After Bank of England Flip-Flops, Leaves Rate Unchanged Defying Market
They saw just what effect their plans would have and,,, backed off.
Will the FED do the same when it comes time to actually taper?
"We Are Setting Ourselves Up For A Policy Error" - Wall Street Reacts To The Fed's Taper Announcement

Coal Keeps Lights On At COP26 As Low Wind Strikes Again
Minimum wind generation coincided neatly with peak demand, and as a result system prices reached stunning levels, with a maximum of just over £4,000 a megawatt hour, nearly 100 times the wholesale price normal before the current crisis started

[Danny B]

Duke Energy Warns Of Higher Power Prices As Tight Coal/Gas Supplies Loom This Winter

11/04 Nitrogen shortage to force U.S. farmers to scale back fertilizer – Yahoo

11/04 Monstrous money printer Bank of Japan has stopped printing money – WS

Massive energy and power crunch coming soon as US coal producers have already sold their coal inventories for 2022
I've been in a coal mine. They can ramp up production any time they want.

[Danny B]

t3-454x1024.jpg

Back in 1998, Armstrong warned the Eurocrats that the European Union would never survive because it didn't have a common debt market.
Brussels is trying to squeeze Berlin to pay Rome, et al. Berlin is taking about leaving because they don't want to pay for lazy Greeks and Italians.
Meanwhile, "They" are implementing the Kalergi Plan to destroy the tribes of Europe with unlimited immigration from $hithole countries.
Europe is being destroyed and, America seems to have a finger in all this.
https://www.zerohedge.com/geopolitic...-demolition-eu
Europe is very lacking in natural resources and, this is hurting them.
There are big shortages of coal, etc.... Though German has 40 million tons of coal.

The Eurozone was a big bureaucratic overlay on top of an already huge European bureaucracy. This reduced member nation's GDP by 20%
In a general sense, what we see worldwide is a growing tax burden solely to support a growing bureaucracy burden.
The Article from Zero Hedge has some great comments. I'll copy them here.
They are very informative, especially if you are interested in the future of Europe.

The EU has set a path it likes to stick to.

It’s a downhill path.

They never work out what has gone wrong, and just compound earlier mistakes with more and more new ones.



The Euro was designed in the good old days before the problems of neoliberalism had come home to roost.

They got the real fanatics in from the University of Chicago.

“The putative “father of the Euro”, economist Robert Mundell is reported to have explained to one of his university of Chicago students, Greg Palast: “the Euro is the easy way in which Congresses and Parliaments can be stripped of all power over monetary and fiscal policy. Bothersome democracy is removed from the economic system” Michael Hudson “Killing the Host”

This was one of those all important design criteria for neoliberal fanatics.

Everything would be controlled by perfect markets.

Governments and the electorate were the only things they really had to worry about.

Everyone cheered as periphery economies boomed on borrowed money, e.g. the Irish Celtic Tiger economy.

No one realised Wall Street was flooding the world with toxic assets.

"It’s nearly $14 trillion pyramid of super leveraged toxic assets was built on the back of $1.4 trillion of US sub-prime loans, and dispersed throughout the world" All the Presidents Bankers, Nomi Prins.

The periphery nations boomed on money borrowed mainly from the banks at the core.

The big European banks loaded up on Wall Street’s toxic assets.

The Titanic was heading straight for the iceberg.

The neoliberal designers of the Euro-zone had expected perfect markets to ensure none of these things happened.

Nations didn’t have their own central banks to backstop national financial systems when a financial crisis hit as this wasn’t seen as necessary.

The Titanic hit the iceberg and there weren’t enough life boats.

The markets hadn’t batted an eyelid while all this was happening, and they got no signals from the markets that anything was going wrong.

Market participants are really hot on public debt, though.

Once Governments had patched up their banks as best they could, and suffered from falling tax receipts after the crisis, Government debt ballooned.

The markets reacted, and drove bond yields up at the periphery making things worse.

Market forces were intent on destroying the Euro-zone.

It looked as though the Euro project was doomed until Mario stepped in to save the day.



TBTF only works for big banks when nations have their own central banks to backstop the financial system.

In 2008, the Euro-zone discovered their banks were too big to bail as the usual mechanisms to do this had not been incorporated into the design of the Euro-zone.

Governments could not get the money from their own central bank to backstop the financial system.

Neoliberals used to believe in everything being controlled by perfect markets, and so they didn’t need to worry about financial crises as they would never happen.

Neoliberals hate Government spending, and never realised a day would come when Governments had to spend to bail out the financial system, but it did, and they couldn’t.

They then copied Japan’s solution to a financial crisis.

Japan had discovered how to avoid a Great Depression and deliver Japanification instead

Japan could study the Great Depression to avoid this fate.

https://www.youtube.com/watch?v=8YTyJzmiHGk

How did Japan avoid a Great Depression?

They saved the banks

How did Japan kill growth and inflation for the next thirty years?

They left the debt in place and the repayments on that debt killed growth and inflation (Japanification)

Why don’t you make things worse with austerity?

This does look like the solution when you use neoclassical economics.

Policymakers that use neoclassical economics tend to think austerity is the answer, and they did in the 1930s as well.

Policymakers couldn’t remember what happened when they used austerity in the 1930s; it’s a really bad idea.

Recommended reading “Austerity, the History of a Dangerous Idea” Mark Blyth.
Policymakers don’t understand the mechanics of the monetary system and there was no way they could see the problem with austerity.
The IMF predicted Greek GDP would have recovered by 2015 with austerity.

By 2015 Greek GDP was down 27% and still falling.

The money supply ≈ public debt + private debt

The “private debt” component was going down with deleveraging from a debt fuelled boom. The Troika then wrecked the Greek economy by cutting the “public debt” component and pushed the economy into debt deflation (a shrinking money supply).

Greece was pushed into a Great Depression type event by the Troika.

[Danny B]

https://www.trunews.com/stream/guard...nancial-system
I had a long interesting post. When I added this link, everything disappeared

[Danny B]

We're "Very Sorry" - Bank Of England Governor Apologizes To Brits For Crushing Their Standard Of Living
the choice between heating your home and feeding your family is a real one for many Brits...

Robinhood Down, Users Unable To Transfer Money Out

Bond Yields Are Tumbling As 'Policy Error' Panic Resumes
Taper or no taper,,, for how long?
5 Signs Stock Market Investors Are Too Bullish
11/09 Fed warns of peril in run-up of risky asset prices, stablecoins – Yahoo

11/09 The Deere strike is starting to ripple across farm supply chains – Bloomberg
Cut back the food supply

Global food production teeters on the brink due to widespread fertilizer shortages
https://www.naturalnews.com/2021-11-...shortages.html

11/09 Inflate rate is over 14% with John Williams – Financial Survival Network
So,,, stocks must return 17---18% to be viable.

11/09 MSNBC goes full clowntard: gaslights that inflation is a “good thing” – ZH

https://www.naturalnews.com/2021-11-...stitution.html
Maine ratifies food sovereignty rights into their state Constitution

[Danny B]

(FED) As recently as August, its GDPNow 3q21 estimates for the quarterly percentage change was as high as 6%.

But within a matter of weeks, this otherwise optimistic figure was cut embarrassingly in half.
Last month their GDP forecast sank much further to 0.5%, and as of this writing, it has been downgraded yet again to 0.2%.
Fed Issues Market Red Alert - Warns Stocks Vulnerable To 'Significant Declines'

About that taper you were worried about;
In the meantime, the much-anticipated taper has been announced. As predicted, it’s as bogus as a 42^nd Street Rolex.
Taking $15B off a $120B/month QE rate and sending the Fed’s balance sheet to over $9T by year end while keeping rates at zero is hardly the kind of “tightening” that signifies a “healthy” market.
Add to that the liquidity provided by Standing Repo Facility and the FIMA swap lines and you quickly see that the bond market will see more, not less, “support.”
In short: This was a bogus taper and nothing has changed.
https://goldswitzerland.com/how-long...-free-markets/

Hundreds Of Thousands To Go On Four Day Nationwide Strike Over Vaccine Mandates
They are only mandating vaccination for WORKERS. You don't have to get vaxxed to collect welfare.
Stimmy money is making it impossible for business to get WORKERS.
A strike will keep out more WORKERS

Eight Reasons Scarcities Will Increase Rather Than Evaporate

11/09 Striking truckers in Asia threaten to add to supply chain snarls – Yahoo
11/09 Snarled Asian supply chains force mfg exodus to Balkans, Latam – Reuters
Japan helps 87 companies to break from China after pandemic exposed overreliance. Japan is paying 87 companies to shift production back home or into Southeast Asia after the coronavirus pandemic disrupted supply chains and exposed an overreliance on Chinese

[Danny B]

Blackstone CEO Stephen Schwarzman warned Tuesday that high energy prices will likely set off social unrest around the world.
"We're going to end up with a real shortage of energy. And when you have a shortage, it's going to cost more. And it's probably going to cost a lot more,"
11/09 Energy insecurity: closer than you think – Forbes
AND
Over 130 UK Lawmakers Sign Letter Asking Pension Fund to Turn Away From Fossil Fuels
We don't need no stinkin heat.
A "Severe Blast" Of Arctic Air Could Impact US Next Week

11/10 Average new-vehicle price spikes 19% in 10 months, to $44,000 – WS
11/10 Further up the producer price pipeline, inflation rages at over 20% – WS
11/09 China’s factory inflation seen quickening to 26-year high – Yahoo

You may not have any interest in China but, it is very important.
11/09 Explained: Xi Jinping’s master plan to rule China for life – MSN
China’s POWER SHORTAGE Could Cause Economic Collapse https://www.youtube.com/watch?v=Vue2v...

Things are starting to blow up in China.
Vid, https://www.youtube.com/watch?v=-WDqx7znva4&t=246s

China signed up LOTS of nations to build infrastructure for them in exchange for raw materials. The corrupt politicians signed sweetheart deals. The army then threw out the politicians and, cancelled the deals.
https://www.youtube.com/watch?v=MuACfVkSLbc
China is just too belligerent and, too expansionist.
https://www.youtube.com/watch?v=VAzzu88GOJk&t=130s

China has a great high speed rail system that loses $44 million a day.
https://www.youtube.com/watch?v=4wsMjxESAY0&t=141s

No, socialism does NOT work.
https://www.youtube.com/watch?v=DG2oSsm2ewE&t=87s
https://www.youtube.com/watch?v=OP35DwTPfHU&t=67s

[Danny B]

Armstrong, "This is all about government default and the Monetary Crisis Cycle which our computer forecast would arrive in 2021. They need to default on their national debts but to hide that fact they are pretending they are doing this for you saying “You’ll own nothing. And you’ll be happy.”

The Inflation Death Spiral has Begun: Inflation Hits Stocks, Bonds and Government Like a Bomb Cyclone

America Is Short A Whopping 80,000 Truck Drivers

China Demands US Immediately End All Official Contacts With Taiwan
That MUST be for domestic consumption. It will never deter Americans.

"They Have Lost Control" - Michael Snyder Warns "Our Destination Is Economic Collapse"

Goldman Stunned By The Record $2.6 Trillion In Option Notional Traded Last Friday
...triple the 2019 average.

Union Threatens Cargill With Strike That Could Paralyze Canada's Beef Market
Let them eat cake.

The Madness Of Taxing Unrealized Capital Gains
This proposal is dangerous and should be declared unconstitutional...
The rich have everything locked away in trusts.

11/12 They have lost control, and now the dollar is going to die – TMIN

Here is a long detailed analysis by John Hussman.
https://www.hussmanfunds.com/comment/mc211108/

[Danny B]

Biden Education Dept Forgiving $2 Billion In Student Loans For Up To 30,000 Borrowers
42.9 million Americans owe a total of $1.57 trillion. They each owe an average of $36,510 in federal loans.Sep 27, 2021
First Wave Of Borrowers Gets $715 Million In Student Loan Forgiveness Under New Program Expansion

Wall Street Reaches Record Highs As Main Street Sentiment Hits 11-Year-Lows

The "Transitory" Debate Is Over: Persistent Inflation Just Hit The Highest On Record

$300 Oil? "Frankly, It Could Go Much Higher"
NOPE, the consumer won't buy it.

A Record Number Of Americans Just Quit Their Job, As Job Openings Surpass Unemployed Workers By A Record 2.8 Million
Plan A at work.

White House Debates Immediate, 'Radical' Action To Lower US Energy Prices
They pump < $120 billion> a day to speculators and, oil rises.

"We Did It": Merkel Suggests 2015 Influx Of Migrants Into Germany Was A Success
The Kalergi Plan to destroy European peoples [Coudenhove-Kalergi, ,,,, With unlimited immigration from $hithole countries.
The European Society Coudenhove-Kalergi has awarded Chancellor Angela

Russia Successfully Tests 'Space Radiation Shield'
What about American orbiting weapons platforms that fire radiation?
Vassilatos Research Collection "Lost Science", "Secrets of Cold War Technology" and "Declassified Patents of the Cold War and SDI"

Report - Diesel Fuel Shortage Forces Some Truck Stops to Ration Fill Up
China is limiting many truckers to just 100 liters.

Add another milestone to Rivian Automotive Inc.’s blistering and surprising run as a new stock: It’s now the biggest U.S. company by market value with no revenue.

WASHINGTON (AP) — Americans quit their jobs at a record pace for the second straight month in September,
The Labor Department said Friday that 4.4 million people quit their jobs in September, or about 3% of the nation's workforce. That's up from 4.3 million in August

[Danny B]

11/14 Look out below: why a rug-pull flash crash makes perfect sense – CHS

11/14 America is under attack by globalists – Martin Armstrong

11/14 As America falls apart, profits soar – Matt Taibbi

11/14 First down payment on a boondoggle – Daily Reckoning

China Macro Data Weakens Across The Board, Credit Impulse Contracts Most In 10 Years
How China’s CEOs Sold Stock At The Right Time
Goldman Sachs is using American money to stave off China’s real estate woes

Morgan Stanley's 2022 Outlook: The Training Wheels Come Off
After 20 months of unprecedented support from governments and central banks, this aid is winding down. Asset classes will need to rise and fall under their own power.

FBI Hacked, Over 100K Emails Sent From Official Address

Rickards: Towards A New Great Depression
On the whole, the pandemic may be ending, but the economic aftermath of the pandemic has only just begun...

Taibbi: As America Braces For The Rittenhouse-Verdict Unrest, Profits Soar
Keeping the volk at each other’s throats instead of pitchforking the aristocrats is an old game, one that’s now gone digital and works better than ever

Goldman Quadruples-Down On Epic Year-End Meltup: "Expect $15 Billion In Demand Every Day To Close The Year"
FALSE demand

California Fraudsters Get Rich Off Unemployment Benefits
California has shelled out at least $20 billion in fraudulent unemployment benefits since the beginning of the pandemic, 11 percent of all benefits paid in the Golden State.