Economic pressures

[Danny B]

New York City Paid 114,000 Highly-Compensated Public Employees Earning $100,000+
Employees included thermostat repairmen making up to $198,630; regular laborers hauling away $213,169; electricians taking home $253,132; and plumbers pocketing up to $286,245.

FBI Identifies Hacker Groups Behind JBS Ransomware Attack

The Key Missing Ingredient In Biden's $6 Trillion Budget Is Honest

"He plans to tax you more and spend far more of your money than even his record-breaking budget plan admits..."

As Reddit Rampage Began, Hedge Funds Unleashed Biggest Pile Up Into Shorts In 5 Years
You can see why the printing presses are in hyperdrive. ALL of these shorts must be protected to preserve the markets.

Fed's Beige Book Freaks Out Over Unprecedented Nationwide Shortages Of Everything

Beware The BIS: Macleod Warns "We're At The Top Of The Bubble"

Two Pins Threatening Multiple Asset Bubbles
...the Fed’s contribution to wealth inequality is significant and grossly misunderstood.

[BroMikey]

22 states are holding back funds to the unemployed and they are becoming homeless.

https://www.kctv5.com/news/local_news/many-kansas-residents-still-waiting-for-unemployment-benefits-and-waiting-and-waiting/article_14592efa-c403-11eb-8e06-23f9efcfb52c.html

[Danny B]

Armstrong writes about tons of millionaires and billionaires who are deserting high-tax jurisdictions to go to low-tax jurisdictions.
The Marxists have always claimed / complained that socialism WOULD work if nobody could escape their grasping paws.
The WEF is pushing for war on China AND financial hell for Russia.
BOTH of them refuse to go along with build back better & the great reset
Armstrong predicted that the financial capital of the world would move to China in 2032

Russia's $186 Billion Sovereign Wealth Fund Dumps All Dollar Assets

Saudi And Russian Oil Producers Benefit From "Climate Activism" Lobbed At Western Producers

Cold War Over EU Skies: Germany Blocks All Inbound Russian Flights In Huge Escalation
If they can't block the Nordstream pipeline one way, They will try to drive Russia & Germany apart another way.

The latest threat is to disconnect Russia from SWIFT. This would cut way down on international business for lack of a payment platform.
"In the medium term, SWIFT could be replaced for domestic purposes with the Russian equivalent System for Transfer of Financial Messages (SPFS), which was set up by the central bank in 2014 and which aims to replicate the functions of the Brussels-based interbank transfer system."

https://carnegie.ru/commentary/84634

Russia's sovereign wealth fund has dumped all dollar assets and bought lots of gold.
They are preparing for a cutoff. The WEF can't very well precipitate a war with Russia to force them to sign up for the big push to communism.
IF, they force a cutoff, Russia will still sell oil but, it won't be in dollars.

Saddam Hussein made the mistake of selling oil in other-than-dollars.
Operation enduring freedom soon corrected that problem.
The WEF is going to over-play their hand when they force the collapse of the West to bring in socialism.
Socialism always drives out capital. It can safely move OUT of the West.

The West currently doesn't need capital because it has a digital printing press.
This will eventually lead to an abandonment of the instrument they call the U.S. dollar.
Cutting off Russia from SWIFT will mean that Iran & Russia will sell oil to the West for gold.
Klaus Schwab of the WEF is a turd. Vladimir Putin is a genius.
The boneheads at the WEF want to get the world to stop using carbon energy.
This is going to blow up in their faces just like the plandemic has blown up.

6/03 Basel III and gold – central bankers locking the fire exits – Zero Hedge
Gold may very well play a major part in precipitating the collapse,,,, if Schwab can't force it first with his cyber polygon.

[Danny B]

Every time that the monetary authorities talk about a reduction in money pumping, the markets have a heart attack.
They are holding up EVERY market.
6/03 NY Fed’s Williams says now not the time to take action on tapering – Reuters
OK, that's pretty clear.
6/03 Absurd headline: Fed winds down program that saved the economy – Mish

It Begins: The Fed Will Outright Sell its Corporate Bonds & ETFs
it will unwind one of the most iconic bailout facilities of the Pandemic era, namely its holdings of corporate bonds, junk bonds, bond ETFs, and junk bond ETFs that it had purchased last year. The Fed said it will outright sell them.
t was the first time that the Fed had purchased corporate bonds, having thus stepped over another of many red lines. This deal was part of the CARES Act with equity funding provided by the US Treasury. The equity funding was designed to shuffle the first loss to the taxpayer.

There seems to be a battle going on between the FED and Treasury
Fed Drains $485 Billion in Liquidity from Market via Reverse Repos, Undoing 4 Months of QE, Even as QE Continues, Total Assets Near $8 Trillion
With these reverse repos, the Fed is selling Treasury securities to counterparties and is taking their cash, thereby massively draining liquidity from the market – the opposite effect of QE.
ven as liquidity is going haywire, and as the Fed trying to deal with it via reverse repos, the Fed is still buying about $120 billion per month in Treasury securities and mortgage-backed securities, thereby adding liquidity.

But with its reverse repos of $485 billion, the Fed undid four months of QE!

https://wolfstreet.com/2021/05/27/fed-drains-485-billion-in-liquidity-from-market-via-reverse-repos-undoing-4-months-of-qe-even-as-qe-continues-total-assets-near-8-trillion/

As Tapering Nears, Beijing Drains Dollar Liquidity

Trump Demands China "Pay The World Ten Trillion Dollars" In Biological War Reparations

Google Boots Head Of Diversity Who Said Jews Have 'Insatiable Appetite For War And Killing"

[BroMikey]

https://www.msn.com/en-us/money/news/enhanced-unemployment-benefits-arent-keeping-kansas-workers-at-home-lets-not-sabotage-those-most-vulnerable/ar-AAKH6Bt

The solution to their hiring woes is crystal-clear: Pay workers a living wage, and they will show up. Some of the industries struggling to rehire workers are among the lowest-paying jobs in Kansas. It is a clear double standard that companies calling to take money away from families received $120.4 million in PPP.

And as though the state’s own numbers aren’t proof enough, a 2020 Yale study found there was zero reason to believe expanded benefits disincentivized work at any point during the pandemic, including as businesses reopen. The study also found that when the benefits expansion went into effect, workers who experienced larger increases in unemployment benefits didn't experience larger declines in employment.

Even J.P. Morgan, a renowned financial investments bank on Wall Street, says ending the $300 benefit is “tied to politics, not economics.”

read more

https://www.msn.com/en-us/money/news/enhanced-unemployment-benefits-arent-keeping-kansas-workers-at-home-lets-not-sabotage-those-most-vulnerable/ar-AAKH6Bt

[Danny B]

Mikey, American business had a choice; pay good dividends to stockholders OR pay good wages.
The money was channeled to the non-producers so that the producers would keep working.

[Danny B]

Monetary activity has 2 main factors.
Money supply
Velocity

Velocity has completely crashed so,,, GOV is ramping up the supply.
Excellent graphs

https://www.dollarcollapse.com/hot-money-weird-trends/

"The collapse of the dollar means that everyone is trying to sell their dollar-denominated assets, and no one wants to buy them. This will drive the value of the dollar down to near zero."

https://www.themorganreport.com/blog/us-dollar-days-dwindle/

The FED, ESF, PPT and treasury are mopping up ALL the assets that nobody wants. This is done to keep the nominal value of assets from falling.
This will, of course, drive the dollar down to zero anyway.


"We Took Out The June 2007 Highs": Morgan Stanley's Sell Signal Just Hit An All Time High
"For only the fifth time in 30+ years, each of our MTIs are giving a sell signal at the same time."

You can see why the printing presses went from light speed to hyperdrive. The more over-valued the assets, the more that they need to be rescued.
A friend asks “is the Fed trying to destroy the US dollar?” – Mish
It's called "collateral damage"

[BroMikey]

That's what I said. Danny but you are better at explaining how and why the entire system will fail and that these dictators have failed the people. You have to work 4 bobs now vs what it used to be before Trump got in, 2 jobs per person husband and wife or girlfriend so 4 jobs vs 6-8 jobs, so yeah. Plenty of work out there.


Farm Worker
Farmworkers cultivate and fertilize fields, plant and harvest crops, and operate farm machinery. They convey harvested crops to storage areas.
Factors Impacting Rating: Many farm jobs are seasonal and carry limited benefits and low pay ($11.84 per hour). Consolidation of farms into large, automated operations has limited opportunities with no projected increase in jobs from 2016-2026. Long hours in often unpleasant weather conditions are negative factors for farmworkers.

$12 X 30 hours per week average on and off season (bypass benefits) = $360 - taxes = 260- gas-o-fuchin-line to and from work () $160 per week. Any takers you lazy slobs? Hum?? How stupid do THE take us for?

Plenty of work. Yup

https://www.thebalancecareers.com/worst-jobs-in-america-4136433

[Danny B]

Yellen Admits Inflation Is About To Surge, Says It Will Be A "Plus For Society"





“If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s point of view”



More Than One-Third Of Small Businesses "In Jeopardy" Of Closing This Summer

"Shot Heard Around The World" - El Salvador President Pushes Bill To Adopt Bitcoin As Legal Tender
How can you possibly have contracts for future delivery if the NORMAL volatility is radical?

Hedge Fund CIO: We've Lost Faith In Media, Politicians And Scientists; We Still Have Absolute Trust In The Fed


An Inconvenient Truth: EVs May Offer A "Negligible" CO2 Difference From ICE Vehicles

6/06 Is the United States on the same calamitous path as Yugoslavia? – Birch
YES, but Yugoslavia did not have the reserve currency.

6/06 Ross Norman – Basel III and gold – central bankers locking the fire exits – Linkedin

A couple things about inflation – Charles Hugh Smith
The question of inflation or deflation is asked constantly.
"What few seem to grasp is that there is a hierarchy of needs that ruthlessly separates "needs" from "wants," and the value of "wants" quickly drops to zero in real scarcities."
In a similar fashion, real scarcity separates phantom intangible assets from real assets. If you glance at the chart of tangible and intangible assets below, you'll note that phantom intangible assets are now the overwhelming majority of what's laughably called "assets."
phantom assets built on sandcastles of leverage are the most valuable assets on the planet. Global stocks are now worth $115 trillion, woo-hoo.
The pathetically thin slice of wealth held by the bottom 50% of American households has fallen to near-zero. It's fallen by 2/3 since the recent peak in the mid-1990s,"

Yes, very closely related to the Greenspan put.
The Fed can conjure up phantom "wealth" based on leverage but this relies on a heavily hyped faith in a fantasy world in which all tangible scarcities are magically turned to abundance by central bank money creation
Monetary and fiscal stimulus is skyrocketing to keep the travesty of a mockery of a sham "prosperity" from collapsing into a putrid sinkhole of failed financial farce.
The higher they push phantom "assets" based on exponential increases in leverage, the greater the air gap between essential tangibles and fantasy."
EXCELLENT graphs

http://charleshughsmith.blogspot.com/2021/06/a-couple-things-about-inflation.html

Exter's pyramid lists assets in order of demand. Everything at the fat part of the pyramid will lose demand / value.
Everything at the apex of the pyramid will see increased demand.
Paper cash is right above gold and silver.

https://seekingalpha.com/article/4332917-re-imagining-exters-pyramid-in-todays-panicked-market

Since people are so unfamiliar with gold & silver, paper money will be in the greatest demand for transactions.

[BroMikey]

Federal Reserve kicks the can down the road, extending the deadline 10 days for covid bonds

[Danny B]

California And Nevada Now 100% In Drought

Western US Drought Is Now Said To Be 'Unprecedented In Recorded History'

The Ca. reservoir system is designed to withstand a 5 year drought. It was filled in 2019.
BUT, Newsome, et al are draining the water to the delta as fast as possible claiming that a small, invasive fish will die if the water flow is diminished.

https://healthimpactnews.com/2021/california-state-water-board-is-manufacturing-a-drought-by-draining-reservoirs-into-the-ocean/

http://cdec.water.ca.gov/reportapp/javareports?name=RES

OBiden And Democrat Communists Intentionally Forcing Chaos On America

Expert - E-Yuan to Expedite China's Attempt to Topple US Dollar as World's Dominant Reserve Currency
China’s Much-Hyped Digital Yuan Fails to Impress Early Users

Nobody Wants To Work: Job Openings Soar To All Time High 9.3 Million As Record Numbers Quit Their Job

Leaked IRS Data Show America's Super-Rich Pay "True Tax" Of 3.4%


Transports, Traps, & Trouble Ahead





It’s a warning signal we’ve seen repeated throughout the years: 2007 and 2015 come to mind...

MON JUN 7, AT 11:05 AM

[BroMikey]

Trump is back

https://www.unitednetwork.news/conte...Special-Report!

And he will do nothing except get a bad look on his face as the economy does a nose dive. This keeps people thinking someone cares, when they don't and want the whole system to drown the population in poverty.

These old dogs will not succeed is hurting all of the people as they are powerless to do anything except get more money from the masses.

The Fed is sending smoke signals not. Get out fast.

https://www.nasdaq.com/articles/federal-reserve-set-to-sell-off-bond-etfs-it-amassed-in-2020-2021-06-08

[BroMikey]

https://www.kitco.com/news/2021-06-08/Economy-is-sitting-on-a-time-bomb-Deutsche-Bank-warns-of-devastating-effects-of-inflation.html

The view that inflation is transitory could lead to devastating consequences for the U.S. economy, warned Deutsche Bank in a report.

"The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act," Deutsche's chief economist, David Folkerts-Landau, and others wrote. "In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets."

Deutsche Bank disagrees with the Federal Reserve's outlook that the spike in inflation that the U.S. economy will see this year will be temporary and mainly due to base effects.

"We are witnessing the most important shift in global macro policy since the Reagan/Volcker axis 40 years ago. Fiscal injections are now 'off the charts' at the same time as the Fed's modus operandi has shifted to tolerate higher inflation. Never before have we seen such coordinated expansionary fiscal and monetary policy. This will continue as output moves above potential. This is why this time is different for inflation," the report noted. "The effects could be devastating, particularly for the most vulnerable in society."

The world is leaving its previous low inflationary environment. This shift has been accelerated by the massive monetary response to the coronavirus pandemic.

"It may take a year longer until 2023, but inflation will re-emerge. And while it is admirable that this patience is due to the fact that the Fed's priorities are shifting towards social goals, neglecting inflation leaves global economies sitting on a time bomb," Folkerts-Landau said. "Sovereign debt has risen to levels unimaginable a decade ago with large industrial countries exceeding red-line levels of 100% of GDP."

This crisis has been a different beast altogether, primarily because of the amount of stimulus that has been introduced into the economy. Congress has passed more than $5 trillion in pandemic-related stimulus so far. On top of that, the Fed has nearly doubled its balance sheet to almost $8 trillion.

"There is a striking difference between today's response and that of prior financial crashes as today's stimulus dwarfs the response to the crises in 2008 and the 1930s. The current fiscal stimulus is more comparable with that seen around WWII. Then, U.S. deficits remained between 15-30% for four years. While there are many significant differences between the pandemic and WWII we would note that annual inflation was 8.4%, 14.6% and 7.7% in 1946, 1947 and 1948 after the economy normalised and pent-up demand was released," the Deutsche Bank economists stated. "This is why this time is different for inflation."

The Deutsche team pointed out that the type of inflation that is coming could be similar to that of the 1970s — a decade that saw price growth average 7% and even rise to double-digits during certain times.

At the time, then-Fed Chairman Paul Volcker battled high inflation with dramatic interest rate hikes, which led to a recession. And the report warned that this could be what's in store for the U.S. this time around as well.

"Already, many sources of rising prices are filtering through into the U.S. economy. Even if they are transitory on paper, they may feed into expectations just as they did in the 1970s," the report said. "The risk then, is that even if they are only embedded for a few months, they may be difficult to contain, especially with stimulus so high."

In the face of all this, the Fed has promised to keep its monetary policy loose until it reaches its full employment and inflation goals. And while the U.S. central bank remains patient in light of higher inflation, it might miss the opportunity to act in time, the German bank added.

"The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act. In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets," the report explained. "Few still remember how our societies and economies were threatened by high inflation 50 years ago. The most basic laws of economics, the ones that have stood the test of time over a millennium, have not been suspended."

In the meantime, U.S. Treasury Secretary Janet Yellen stated that President Joe Biden's $4 trillion spending plan should go ahead even if it sets off higher inflation that could last into next year and leads to higher interest rates.

"If we ended up with a slightly higher interest rate environment, it would actually be a plus for society's point of view and the Fed's point of view," Yellen told Bloomberg on Sunday.

[Danny B]

Got more details, Mikey.
"If you want an even more accurate view of the current rate of inflation just look at home prices, which are up 21% y/y, according to Redfin data. Also, the 19 commodities in the CRB Index have soared by over 60% in the past 12 months."
"This is the conundrum for our Treasury and Fed: keep printing money and cause inflation to run intractable, which will destroy the stock market and the economy. Or, stop monetizing debt and let the gravitational forces of deflation implode the gargantuan asset bubbles."

https://www.dollarcollapse.com/pento-feds-tools-broken/

PRIVATE BLOG – Is the Fed Lying about Inflation?
Posted Jun 8, 2021 by Martin Armstrong

PRIVATE BLOG – The REPO Crisis – Here we Go Again
Posted Jun 8, 2021 by Martin Armstrong

The Fed Says Inflation Is Transitory, It Has A Vested Interest To Lie

China Launches Price Controls After Red Hot Inflation, Highest PPI Since Lehman Collapse
The last time China's PPI was this high, the global financial system collapsed.

One Bank Goes Apocalyptic: Inflation Is About To Explode "Leaving Global Economies Sitting On A Time Bomb

40M Americans Bracing For End Of Student Loan Moratorium As Politicians Acknowledge "Unsustainable" Debt
How very reassuring, they acknowledge something.


The Colonial Pipeline Hack, The 'Russians', & The FBI's Ransom-Grab - What Really Happened?





So the "hackers" brought down the largest pipeline on the east coast... ...but couldn't spend 50 bucks on a clean hardware wallet to secure their bitcoin?

Nobody Wants To Work: Job Openings Soar To All Time High 9.3 Million As Record Numbers Quit Their Job
Ah, the producers are walking away.
6/08 Job openings set new record of 9.3 million amid economic reopening – CNBC

6/08 Deutsche Bank warns of inflation ‘time bomb’ coming due – CNBC

6/08 Stocks will crash faster & deeper this time | Michael Pento – Market Sanity

6/08 China will use “coercive power” to force digital yuan adoption – Zero Hedge

[BroMikey]

Got more details, Mikey.
"If you want an even more accurate view of the current rate of inflation just look at home prices, which are up 21% y/y, according to Redfin data. Also, the 19 commodities

Counting you Danny to cut thru the lying bulzhit.

TRUMP is coming back in 2024 another lie from Hell right from Trump's mouth.

https://rumble.com/vi3l91-president-trump-were-gonna-take-back-the-white-house...and-sooner-than-you-.html