Tag Archives: economy

All Gassed Up

30 Monday Mar 2020

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With nowhere to go.

It’s a little ironic: gas is the cheapest we’ve seen since almost the end of the previous century, and yet we have no place worth driving to.

U.S. crude prices fell to their lowest level since 2002, briefly dropping below $20 a barrel, as investors grew more pessimistic about oil demand.

West Texas Intermediate futures, the main U.S. crude gauge, were down 6.5% at $20.11 a barrel after hitting their lowest level since February 2002 on Monday. Brent crude, the global benchmark, fell 6.4% to $26.18 a barrel.

The taxes are up, but by the old metrics, going below $20 per barrel should yield gas under $1. I’ve seen it, where I am, for around $1.60. I’ve heard it’s $1.30 elsewhere. It’s gonna be like 1995 again! Minus the functioning society.

Alligators and Toilet Paper – from TPC

25 Wednesday Mar 2020

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Yes, another one in the same week!

Shelter in Place or the Terrorists Economy Virus Wins

First, the good news: Guess who is the owner of 18 brand new and hopefully unused rolls of toilet paper? That’s right. This guy! Ah, the simple pleasures of good old apocalyptic ‘Murica. As an added benefit, I received the eternal blessing of staying saaaaaaaaafe from every mask-clad woman I encountered at Publix. I had found some excess cash which I had hidden away for future vices. So, upon making off with Mr. Whipple’s delight and before returning to the bunker, I sought to entertain myself with a burger from a local eatery. They were closed, as was the I-talian joint, the gym, the rec center, the library, the bar, the other bar, and even the cigar lounge. Friends, when the cigar club shuts down, we have a problem.

You might not have heard, but America is experiencing what may be the largest, most lethal health event in recorded human history. The media is intentionally obscuring the numbers. This year alone – from January 1 until today – the death toll is closing in on 200,000! Those poor souls add to the 60 million tiny babies already wantonly murdered in this dead nation since 1973. It’s not just an atrocity, it’s a genocide, a holocaust. Never forget? Never again? This being a crime crying out to Heaven for vengeance, we might expect God to act, like with a plague or something. For now, we have to settle for an economic depression.

The warnings and observations of Dr. Todd Vispoli are coming true as each new day passes. It’s almost like he, or rather, the pen behind him, is prophetic. The idiots in Washington are moving mountains to gin up trillions of dollars in alleged remediation for the financial calamity wrought by those same idiots and the very same usurious thieves they plan to give the money to. Orange Man blasphemes about a “resurrection” by Easter (when the churches will still be closed, I imagine). Interest on short-term Treasuries dipped well below zero in a display of the actual value of the currency (of which there will soon be at least $6 Trillion more). Viral unemployment benefits and fake tax rebates start to look a whole lot like universal basic income. The Federal Reserve is set to receive new and greater powers to issue more “digital currency” from their crystal ball of doom. All of the irresponsible, anti-American, globalist-minded corporations and otherwise bankrupt industries cue up like hogs at the trough. 

…

THE WHOLE THING AT TPC!

An Open Letter to President Trump

21 Saturday Mar 2020

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I did, today, send a letter to the President about the COVID-covered economy. Here it is:

Hon. Donald John Trump
The White House

In Re: The Economic Collapse in America

Dear President Trump:

May I congratulate you on your handling of the recent unpleasantness related to the Wuhan COVID-19. I understand this must be a challenging and monumental task. However, I remind you that you did not create the virus. Nor did you create the near-terminal conditions in the economy, as revealed by the pandemic. But, while I trust the virus will burn itself out, you potentially have the ability to cure the financial calamity which has incubated and infected for over one-hundred years. I offer three suggestions:

First, cancel all debts. All of them: national, state, corporate, and individual. There are numerous methods for doing this. For years, people have told me that such a corrective course would “destroy the economy.” As it appears that is already happening, perhaps there is no better time.

Second, eliminate the virus that is the Federal Reserve, with its fractional banking, fake currency, constant inflation, cannibalistic financialization, and economic sorcery. The chief priests of this temple of usury are among the deepest of the deep staters, elders in the swamp of which you are intimately familiar. Drain it. Make usurious lending a felony.

Third, institute a gold or other commodity standard and a reset, a return to normalcy and sanity.

Bailouts, handouts, more fake money, and more debt will only paper-over, perpetuate, and exacerbate the already insidious problems. Lockdowns, martial law, and indefinite detention of Americans certainly will not help matters.

Please contact me if you have any questions about the potential processes and proposals briefly mentioned above. May God give you strength and wisdom in all your important endeavors.

Sincerely,

Perrin Lovett

UPDATE: The Gatekeepers answer:

Screenshot 2020-03-23 at 4.17.08 PM

They misspelled Farcebook.

Bank of America Calls Collapse

19 Thursday Mar 2020

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The same Bank of America that racked up $3.5 Trillion in bailouts during the previous part of the current (perhaps never-ending) depression sees arecession and a collapse on the way.

Bank of America warned investors on Thursday that a coronavirus-induced recession is no longer avoidable — it’s already here.

“We are officially declaring that the economy has fallen into a recession … joining the rest of the world, and it is a deep plunge,” Bank of America U.S. economist Michelle Meyer wrote in a note. “Jobs will be lost, wealth will be destroyed and confidence depressed.”

The firm expects the economy to “collapse” in the second quarter, shrinking by 12%. GDP for the full year will contract by 0.8%, it said.

The Corona did it! Never stronger. Fully capitalized.

How much should we put them down for this time?

TPC Preview and the Economy

16 Monday Mar 2020

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Greetings. I am putting the finishing touches on a TPC short story for broadcast tomorrow. It features Dr. Tom Ironsides! And, he and a friend you might remember will discuss current events. I’m still working on it, packing as much up-to-date-ness in as I can. I’ll let you in on the gist:

The US Economy is Probably in Full-scale Collapse.

In the morning, I’m making the same claim at FP, and Tom and Co. present as much tomorrow at TPC. You heard it first if you didn’t already know. I hope I’m wrong, but even if I am, then this is a good taste of “the big one.” This could be the chance to finally reset things. But, so far, our “leaders” have only exponentially increased the same insanity that brought us to this point; they’re using the Corona as the most convenient cover. Think of it this way: soon the bug will be a memory; but, when the toilet paper comes back to Walmart, it might cost $10 per roll and you might have been laid off.

I’ll feature the TPC bit, here, in full. We’ll try to have fun with it.

Now, let’s see, was today’s 3,000 the DOW drop, or the COVID increase…

3,583 Reasons the Fed will Act

28 Friday Feb 2020

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Done deal. They’re going to do something, probably something spectacular if understated (underhanded). The precious GDP, as daily measured by the stock market indexes, must be saved at all costs.

Stocks took another steep dive Friday, deepening a multi-day rout fueled by fears about the coronavirus’ impact on the global economy.

The Dow Jones Industrial Average fell 357 points on Friday, capping a week in which the blue chip index fell 3,583 points or 12.4%. The Dow is down 16.3% from its recent peak on Feb. 12.

The S&P 500 stock index lost 11.5% for the week and is now down 14.6% from the all-time high it reached only last week.

From Repo operations to Sicko tactics. What times! If you’re not a bankster, sorry but you’re on your own. Get one of those trendy masks.

Hey! Maybe we’ll get free masks when we file ourtaxes.

Explaining the Retail “Apocolypse”

14 Friday Feb 2020

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Econ. Prof. Austan Goolsbee does so very well, listing three causes. The internet is only one, and the weakest of the three. Number two is probably the most important, and it is directly linked with no. three,

Services Instead of Things: With every passing decade, Americans have spent proportionately less of income on things and more on services. Stores, malls, and even the mightiest online merchants remain the great sellers of things. Since 1960, we went from spending 5 percent of our income on health to almost 18 percent, governmentstatistics show. We spend more on education, entertainment, business services and all sorts of other products that aren’t sold in traditional retail stores.

Spending almost four times as much on health and people are less healthy than ever. So much more on education, yet dumber than ever. The people need the entertainment to take their minds off of losing their economy, etc. And the “business services?” That means paying for financing, sorcery.

 

 

Maxed Out Credit Cards

11 Tuesday Feb 2020

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During the best economy ever. What will happen when the bottom falls out? That, we already know.

To that point, more than 1 in 3 Americans — or 91 million people— said they’re afraid they’ll max out their credit card when making a large purchase, according to a new WalletHub credit cards survey. (Most of those polled considered a large purchase as anything over $100.)

“A healthy amount of fear is justified,” said Odysseas Papadimitriou, CEO of WalletHub. “Issues stemming from large purchases more often concern people making too many of them, for the wrong reasons.”

More than one-third, or 37%, also said they have already maxed out their credit card and 14% said they have maxed it out more than once. WalletHub polled more than 700 people in January.

Still, most Americans continue to take on ever-increasing amounts of debt. According to data from the Federal Reserve, the U.S. surpassed $1 trillion in credit card debt — the highest level since the Great Recession.

There’s a difference between being wary of something because it’s bad and being fearful of it, fear coming unnaturally and in defiance of man’s Spirit. Thus, it does go hand in hand with the satanic practices of sorcery and usury. Thus, the predation continues during what are allegedly good times. Your righteous Romans 13 government would cancel the debts and ban the evil. If you had one.

Repo Madness

07 Tuesday Jan 2020

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2020 is off to a rocking great start! That is if you’re a criminal banker. And, the money just flows!!!

… means the Fed just injected a total of $99BN to keep the levitation party going, and confirms that the repo market remains paralyzed.

Worse, any attempts to drain liquidity from the repo market, or generally slow down the shrinkage of the balance sheet, will be met with failure. It is also another indication that the repo market now holds the Fed hostage, with Powell now trapped in not only injecting liquidity via QE4, i.e., the monetization of T-Bills, but continued reliance on repos in the $250BN range.

Of course, should the Fed threaten to pull even a bit more liquidity than the market is comfortable sacrificing, and stocks get it. The flip side too: as long as the Fed keeps growing the balance sheet at a rate of about $100 billion per month, the market meltup will continue.

Best economy ever! As they boasted the other day, it is now virtually recession-proof.*

*”virtually recession-proof” does not preclude the (mathematically certain) proposition of depression or total collapse.

Voodoo Economic News

17 Tuesday Dec 2019

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Trade. Stock market. Interest rates. BAWK! The sorcerors wave their magic wands and all is well(?).

The trade deals, while not nearly as ambitious as Trump promised, have lessened one of the biggest drags on the U.S. economy: uncertainty. While some industries still face significant tariffs and final details remain in flux, business leaders say at least they know what the situation is likely to be in 2020, offering more clarity than they have had since Trump’s trade war commenced nearly two years ago.

“Tariffs will be much more stable for quite a while,” Larry Kudlow, Trump’s top economic adviser, told The Washington Post. “Some of the obstacles to growth, including the Fed and trade uncertainties, are being removed, and that will have a powerful positive impact on the economy.”

Hold up. Did Kudlow just say they’re removing the Fed???