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Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. Labor Department Nails It

Never Before Have I Seen So Much Fake Unemployment & Jobs Data by the Bureau of Labor Statistics. Labor Department Nails It

Labor Department today: People on state & federal unemployment insurance jumped to 31.5 million, worst ever.

Bureau of Labor Statistics today: 4.8 million jobs created, unemployment dropped by 3.2 million.

BLS under-reported unemployment by 13.7 million, based on data from the Labor Department. What’s happening is infuriating. Read and cringe.

Normally, the jobs report by the Bureau of Labor Statistics is released on the first Friday of the month. And the unemployment claims report is released Thursday every week. But this month, the monthly jobs report was also released today because of the 4th of July weekend. And now we have this delicious situation of both reports on the same day, with the Labor Department’s unemployment insurance data – people who are actually receiving unemployment benefits under state and federal programs – calling the Bureau of Labor Statistics’ survey-based report a liar. And we’ll go through them.

What the Labor Department reported today:

The total number of people who continued to receive unemployment compensation in the week ended June 27 under all state and federal unemployment insurance programs, including gig workers, surged by 937,810 people in the week, to 31.49 million (not seasonally adjusted), the highest and worst and most gut-wrenching ever:

The number of people receiving state unemployment insurance (blue columns in the chart above) has essentially been flat for three weeks (it ticked up this week), as many people got their jobs back while many other people were newly laid off. But the number of people on federal unemployment programs, including gig workers (red columns), has been soaring.

What the Bureau of Labor Statistics reported today:

…click on the above link to read the rest of the article…

2 Aircraft Carriers Lead ‘Show Of Strength’ In South China Sea As Navarro Slams Beijing For “Spreading The Virus”

2 Aircraft Carriers Lead ‘Show Of Strength’ In South China Sea As Navarro Slams Beijing For “Spreading The Virus”

On the eve of Independence Day, the White House is once again stoking tensions with Beijing, as President Trump continues to embrace aggressive rhetoric toward China as a key campaign issue that (he hopes) will help bring out more Trump voters worried about Biden and/or members of his family’s dubious business ties to China and Ukraine.

Media reports claim that the US is sending not one but two aircraft carriers into the South China Sea, one of the hottest flashpoints on earth right now (at least, one of the hottest flash points that’s not situated along India’s land-border), as the US Navy holds military exercises in the area, a major middle finger to Beijing and the PLA-Navy.

The USS Ronald Reagan and USS Nimitz are scheduled to hold some of the Navy’s largest exercises in recent years in the area, which is frequently beset upon by American destroyers sailing within 12 miles of certain islands developed by China that are the subject of competing international claims.

The exercise will involve the two carriers as well as 4 other warships along with round-the-clock fights and missions.

The news comes as Peter Navarro, who has seemingly been relegated back to a supply closet office in the West Wing now that the trade deal is dead in the water, has apparently been let out of his cage long enough to rant about Beijing and the CCP leadership’s unforgivable failure to contain the coronavirus.

Perhaps it’s because China has seemingly been on a agricultural commodity buying spree in Latin America?

For a while there, it seemed like China would buy up ever-more American agricultural products for the simple reason that they were cheap and China needed the supplies.

…click on the above link to read the rest of the article…

The US Military Has Its Knee on the Throat of the World

The US Military Has Its Knee on the Throat of the World

The 2021 Defense Budget is making its way through Congress. The annual drama of this event has always been of particular interest to residents of the north Pacific Coast, as the US Navy’s nursery lies only twelve miles off our coast. This is where many of the weapons purchased by Congress take their first baby steps of testing and training before deployment. As a requirement for approval of the Navy’s Environmental Impact Statement regarding these exercises, the Navy must consult us every few years. This opportunity to confront Navy personnel has provided an opportunity to become acquainted with the environmental effects of these weapons, and, just as importantly, the menace their ever-increasing lethality constitutes for life on earth.

I watched some of the Armed Services Committee hearings on the budget. Generals and other military representatives were visibly pleased with their new product. As Mark Milley, Chairman of the Joint Chiefs of Staff, observed, “The character of war is changing frequency”.

The messy, scrappy, unsatisfying, asymmetrical wars in the devastated Middle East have lost the interest of our warriors, as two worthier adversaries, China and Russia, have been conjured up, and now grip their attention. Although our budget comprises over 40% of the world’s military spending, and China and Russia spend respectively one-sixth and one-tenth of ours, the Pentagon refers to them generously as “near-peers”.

China and Russia are not eager for these roles. We have had to torment them, like reluctant bulls in a bullfight. We sail our warships within twelve miles of their shores, conducting vast military exercises in the South China Sea, the Black Sea, the Persian Gulf and the Japan Sea.

…click on the above link to read the rest of the article…

A Summer of Protest, Unemployment & Presidential Politics – Welcome to 1932

A Summer of Protest, Unemployment & Presidential Politics – Welcome to 1932

In 1932, as in 2020, the nation experienced an explosion of civil unrest on the eve of a presidential election, writes James N. Gregory.

The Bonus Army stages a demonstration at the empty Capitol on July 2, 1932.
(Underwood and Underwood, photographers; Library of Congress)

An election looms. An unpopular president wrestles with historic unemployment rates. Demonstrations erupt in hundreds of locations. The president deploys Army units to suppress peaceful protests in the nation’s capital. And most of all he worries about an affable Democratic candidate who is running against him without saying much about a platform or plans.

Welcome to 1932.

I am a historian and director of the Mapping American Social Movements Project, which explores the history of social movements and their interaction with American electoral politics.

The parallels between the summer of 1932 and what is happening in the U.S. currently are striking. While the pandemic and much else is different, the political dynamics are similar enough that they are useful for anyone trying to understand where the U.S. is and where it is going.

Tanks and mounted troops advance to break up a Bonus Marchers’ camp of veterans protesting lost wages, Washington, D.C., July 28, 1932. (PhotoQuest/Getty Images)

Multiracial Street Protest Movement

In 1932, as in 2020, the nation experienced an explosion of civil unrest on the eve of a presidential election.

The Great Depression had deepened through three years by 1932. With 24% of the work force unemployed and the federal government refusing to provide funds to support the jobless and homeless as local governments ran out of money, men and women across the country joined demonstrations demanding relief.

Our mapping project has recorded 389 hunger marches, eviction fights and other protests in 138 cities during 1932.

Although less than the thousands of Black Lives Matter protests, there are similarities.

…click on the above link to read the rest of the article…

The Fed Just Picked the “Big Guys” (Again) Over Individuals

The Fed Just Picked the “Big Guys” (Again) Over Individuals

Fed against people
Photo by Flickr.com CC BY | Photoshopped

In a recent disclosure to Congress, the Fed revealed that it just purchased $429 million in bonds from 86 corporations.

They did this through something called a Secondary Market Corporate Credit Facility (SMCCF). Buried on the Fed’s website, the press release explains the intention behind this purchase of bonds:

The SMCCF will purchase corporate bonds to create a corporate bond portfolio that is based on a broad, diversified market index of U.S. corporate bonds. This index is made up of all the bonds in the secondary market that have been issued by U.S. companies that satisfy the facility’s minimum rating, maximum maturity, and other criteria.

According to Agora’s 5-Minute Forecast, the Fed also plans to purchase an additional $320 million of corporate bonds in the near future.

If you read the bolded phrase above from the Fed’s press release, you might think they intend to use this as an opportunity to help the “little guy” weather the recent economic storm.

But the “broad, diversified market index” that the Fed claims it’s rescuing doesn’t appear that broad… or that diversified.

The list includes giants like AT&T, Walgreens, Microsoft, Pfizer, Apple, Walmart, Comcast, Ford, Boeing, Cisco and Visa.

It goes without saying that these behemoths can weather out the storm while the smaller corporations struggle and lay off employees.

Fed Doing Its Best to Make Sure the “Big Guys” Keep Winning

The same edition of Agora’s 5-Minute Forecast sums up another example of a confused Fed:

The fact the Fed is buying corporate bonds at all signals favoritism toward big existing players — indebted lumbering behemoths that can’t innovate. It’s not as if the Fed is going to take the largesse it creates from thin air and spread it around to a plucky but capital-starved startup, right?

…click on the above link to read the rest of the article…

Seriously, Get The Hell Out Of Afghanistan

Seriously, Get The Hell Out Of Afghanistan

With overwhelming bipartisan support, the House Armed Services Committee has added a Liz Cheney-spearheaded amendment to the National Defense Authorization Act (NDAA) which throws severe roadblocks in the Trump administration’s proposed scale-down of US military presence in Afghanistan and Germany.

As The Intercept‘s Glenn Greenwald notes, both parties advancing the amendment cited in their arguments the completely unsubstantiated intelligence leak that was recently published by credulous mass media reporters alleging that Russia has paid bounties to Taliban fighters for killing the occupying forces in Afghanistan. Yet another western imperialist agenda once again facilitated by unforgivably egregious journalistic malpractice in the mass media.

Every aspect of this development is enraging.

The mass media have continued to add to their mountain of Gish gallop fallacies promoting this narrative with a new Daily Beast report citing former senior Taliban figure Mullah Manan Niazi who asserts that “The Taliban have been paid by Russian intelligence for attacks on U.S. forces—and on ISIS forces—in Afghanistan from 2014 up to the present.” The Beast’s own article admits that its source has severe conflicts of interest and is believed to be a CIA asset by Taliban leadership, and that Niazi provided no evidence of any kind for his claim or any further details whatsoever.

These flimsy, poorly-sourced allegations are being hammered into mainstream liberal consciousness on a daily basis now in the exact same way the discredited Russiagate psyop was, and just like with Russiagate the narrative they are being used to shape helps advance military expansionism and new cold war escalations which just so happen to fit perfectly into pre-existing geostrategic agendas of planetary domination.

…click on the above link to read the rest of the article…

Is America Heading For Civil War? Of Course It Is…

Is America Heading For Civil War? Of Course It Is…

In last week’s article I discussed the issue of American “balkanization” and the rapid migration of conservatives and moderates from large population centers and states that are becoming militant in their progressive ideology. In my home state of Montana there has been a surge of people trying to escape the chaos and oppression of leftist states. Some are here because of the pandemic and the harsh restrictions they had to endure during the first lockdowns. Others are here because they can’t stand the hostility of identity politics, cancel culture and race riots. Either way, they are fleeing places with decidedly leftist influences.

Uprooting and moving to an entirely new place is not an easy thing to do, especially in the middle of a pandemic. For many people, such an idea would have been unthinkable only a few years ago. Believe me, moving to a place like the Rocky Mountain Redoubt is not an easy transition for most. Hopefully these people understand that they will have to make extensive preparations for the rough winter and be ready to work hard in the spring and summer months to survive. Maybe they don’t realize yet how tough it is here; maybe they know and don’t care.

That’s how bad the situation has become – Rational and reasonable people are willing to leave behind their old life and risk it all to keep a margin of freedom.

In my view it is clear that the political left has gone so far off the rails into its own cultism that there is no coming back. There can be no reconciliation between the two sides, so we must separate, or we must fight. I advocate for separation first for a number of reasons:

…click on the above link to read the rest of the article…

TOM CLOUD PRECIOUS METALS UPDATE: U.S. Dollar Troubles Ahead & Are Banks Safe?

TOM CLOUD PRECIOUS METALS UPDATE: U.S. Dollar Troubles Ahead & Are Banks Safe?

In the newest precious metals update, Tom Cloud discusses the platinum market, U.S. Dollar troubles, and is your money safe in banks.  Tom says that more individuals and companies are moving some of their cash out of banks and into physical metals than he as ever seen before.  Americans are becoming increasingly worried about their ability for the FDIC to insure their money at banks.

Tom Cloud discusses why the U.S. Dollar is in trouble, A dollar crash is virtually inevitable, Asia expert Stephen Roach warns:

Stephen Roach, one of the world’s leading authorities on Asia, is worried a changing global landscape paired with a massive U.S. budget deficit will spark a dollar crash.

“The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit,” the former Morgan Stanley Asia chairman told CNBC’s “Trading Nation” on Monday. “The dollar is going to fall very, very sharply.”

His forecast calls for a 35% drop against other major currencies.

Tom told me during our phone chat that he believes the industry will suffer from even more substantial shortages of physical gold and silver bullion products when the next BIG WAVE of buying hits the market.  I totally agree.  Tom stated that during late March and in April, he saw more new clients purchasing physical gold and silver than he has seen in quite a while.

The biggest issue that concerns Tom and some of his clients is the safety of their FDIC insured money in banks.  Individuals and companies who hold a significant amount of funds in banks are becoming worried that the FDIC will not have the funds to protect customers when there is a RUN on the BANKS.  I believe this is coming in time.  Especially when the U.S. Dollar gets into trouble.

…click on the above link to read the rest of the article…

Natural Gas Price Plunge Could Soon Lead To Shut-Ins

Natural Gas Price Plunge Could Soon Lead To Shut-Ins

Natural gas prices plunged to new lows this week, falling below $1.50/MMBtu, a catastrophically low price for U.S. gas drillers.  The factors afflicting the gas market are multiple. Prices had already fallen below $2/MMBtu at the start of 2020, weighed down by oversupply. But it wasn’t a problem confined to the U.S. There was also a global glut of LNG due to a wave of capacity additions in 2019.  

That was the situation heading into 2020. But just as the Covid-19 pandemic tore apart the oil market, natural gas also went into a tailspin. Global gas demand is expected to fall by 4 percent this year, “largest recorded demand shock” in history, according to the International Energy Agency. 

Buyers of U.S. LNG are now cancelling shipments at a rapid clip. U.S. LNG exports have declined by more than half compared to pre-pandemic levels.

“There would have been too much LNG in the world even without Covid-19,” Ben Chu, a director at Wood Mackenzie’s Genscape service, said in a statement. “Covid-19 has made it worse.”

Buyers abroad are willing to pay a cancellation fee instead of receiving shipment from U.S. exporters, a sign of how badly the market has deteriorated. For August delivery, between 40 and 45 cargoes have been cancelled, nearly double the rate of cancellation in June. 

Typically, cheaper gas can stimulate demand, particularly in the electric power sector. But that outlet is not as large as it may have been in the past, not least because gas has already been cheap for quite some time. Thus, the coal-to-gas option is limited. Without an export route, and without larger uptake from utilities, the gas glut has deepened. 

…click on the above link to read the rest of the article…

Only Idiots Believe The CIA, And Other Notes From The Edge Of The Narrative Matrix

Only Idiots Believe The CIA, And Other Notes From The Edge Of The Narrative Matrix

An assertion made by spooks is as far from evidence as you can possibly get. Really dumb that this needs to be said.

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Mainstream media outlets which publish anonymous intelligence claims with no proof are just publishing CIA press releases disguised as news.

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The most influential news outlets in the western world uncritically parrot whatever they’re told to say by the most powerful and depraved intelligence agencies on the planet, then tell you that Russia and China are bad because they have state media.

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Imagine if a compulsive liar who you know for a fact constantly deceives people in order to hurt and exploit them told you your neighbor is going to kill you if you don’t kill him first, and you go and kill your neighbor immediately. That’s how dumb believing the CIA is.

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If you were magically transported from a sane world into this one you wouldn’t understand how everyone’s freaking out about claims that Russia paid the Taliban to attack an occupying force instead of the fact that the US empire is an occupying force all around the planet.

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Gonna quit this gig and become one of those experts they bring on MSNBC to look at the camera and solemnly say that whatever’s in the news today is “right out of Putin’s playbook”.

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“International law” only exists to the extent that the international community collectively agrees to enforce it, which means it only applies to nations that can’t control the collective narrative. That’s why so much energy goes into these cold war narrative control campaigns.

This is pretty much the US State Department’s entire job in modern times, by the way. That’s why almost everything that comes out of Mike Pompeo’s mouth is geared toward manipulating the international narrative in some way. It’s literally his entire job.

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…click on the above link to read the rest of the article…

The War That Time Forgot

The War That Time Forgot

Drone targeting footage, Afghanistan. Photo: USAF.

I hear it all the time. The most crucial decision of this century was the vote to go to war against Iraq. It’s meant to serve as a political line of demarcation, a sure-fire way to determine which politicians, celebrities and news personalities you can trust.

But there’s little question, to my mind at least, that the impulsive decision to invade Afghanistan was the more consequential and enduring tragedy, a political bloodletting that nearly every political leader, left and right, fell for, even putative peaceniks like Bernie Sanders and Ron Paul. This was the true moral test of our time and almost everyone failed, except Barbara Lee. She was the lone voice of conscience in the fall of 2001, a vote of dissent in a time of mass hysteria that has been vindicated time and again over the past 18 years.

Remember, the vote to go to war against Afghanistan, enacted only seven days after the 9/11 attacks, was actually a vote for an open-ended war waged against nebulous “terrorists” anywhere on the planet: Pakistan, Niger, Yemen, Somalia, Algeria. You name it. No questions asked. It was only Barbara Lee foresaw the consequences, how even a highflying critic of the rush to invade Iraq like Barack Obama could 14-years later use the hastily-written AUMF as a legal basis for launching airstrikes on ISIS forces inside Syria. Now, Donald Trump has claimed the same unilateral authority and used it to justify strikes against the Syrian regime of Bashar al-Assad and to justify the assassination of Qasem Suleimani. It’s the gift that keeps on killing.

…click on the above link to read the rest of the article…

McCarthyism Down Under

McCarthyism Down Under

UPDATE: 5 Eyes media have been amplifying the story. BBC quoted Sydney Morning Herald saying, “No allegations had been proven.” The New York Times, which rarely reports on Australia, ran a staff-written story, writes Joe Lauria.

Australian Prime Minister Scott Morrison held a somber press conference on Friday to announce that the Australian Federal Police (AFP) and the Australian Security Intelligence Organisation (ASIO) had conducted a raid on a sitting member of the New South Wales parliament all because, so far, he’d said favorable things about China and had traveled to the country.

The Murdoch-owned Australian newspaper reported that the office and Sydney home of NSW Labor MP Shaoquett Moselmane had been raided because he “has repeatedly praised Beijing, even describing Chinese President Xi Jingping’s response to the COVID-19 pandemic as ’emphatic’ and ‘decisive.’”

Moslemane was portrayed as an “extremely serious” threat because he had written about China: “Failure to contain the epidemic could mean thousands if not hundreds of thousands of lives would be lost. The combined phenomenal effort of the state and the people in the fight to contain the virus was breathtaking.”   The MP was also deemed a threat because, as The Australian reported: 

“In April, Mr Moselmane resigned as Upper House assistant president after being caught on camera again praising President Xi’s handling of the virus, even as concerns arose that China had underplayed the severity of the crisis.

He has also said China needed to ‘force a change to the rules and create a new world order’. Mr Moselmane was the honorary chair of the Australian Shanghainese Association and a member of the Australian Chinese Association, both linked to Beijing’s secretive network of foreign influence operations known as the United Front.

…click on the above link to read the rest of the article…

The Insanity Of The Political Left And The Balkanization Of The US

The Insanity Of The Political Left And The Balkanization Of The US

Can leftists and conservatives of our modern era peacefully coexist within the same society?  If someone asked me this question only ten years ago I would have said “Sure, it’s possible”.  Today, the answer is a resounding “No way”.  The political divide has become so vast that there is simply no chance for the two sides to reconcile or come to reasonable terms, and make no mistake, this is not a two-sided disaster; the majority of the damage is being done by one side of this equation.

Back in 2016 I wrote numerous articles discussing the issues and dangers of the conflict that was developing within the US, and many of these articles focused on who actually benefits. In my article ‘Order Out Of Chaos: The Defeat Of The Left Comes With A Cost’ I stated:

When I mentioned in my last article the crippling of social justice, I did not mention that this could have some negative reverberations. With Trump and conservatives taking near-total power after the Left had assumed they would never lose again, their reaction has been to transform. They are stepping away from the normal activities and mindset of cultural Marxism and evolving into full blown communists. Instead of admitting that their ideology is a failure in every respect, they are doubling down.

When this evolution is complete, the Left WILL resort to direct violent action on a larger scale, and they will do so with a clear conscience because, in their minds, they are fighting fascism. Ironically, it will be this behavior by leftists that may actually push conservatives towards a fascist model. Conservatives might decide to fight crazy with more crazy.”

…click on the above link to read the rest of the article…

Fear in the JFK Assassination, Part 1 (of 2)

Fear in the JFK Assassination, Part 1 (of 2)

Fear in the JFK Assassination, Part 2 (of 2)

One of the fascinating phenomena in the JFK assassination is the fear of some Americans to consider the possibility that the assassination was actually a regime-change operation carried out by the U.S. national-security establishment rather than simply a murder carried out by a supposed lone-nut assassin.

The mountain of evidence that has surfaced, especially since the 1990s, when the JFK Records Act mandated the release of top-secret assassination-related records within the national-security establishment, has been in the nature of circumstantial evidence, as compared to direct evidence. Thus, I can understand that someone who places little faith in the power of circumstantial evidence might study and review that evidence and decide to embrace the “lone-nut theory” of the case.

But many of the people who have embraced the lone-nut theory have never spent any time studying the evidence in the case and yet have embraced the lone-nut theory. Why? My hunch is that the reason is that they have a deep fear of being labeled a “conspiracy theorist,” which is the term the CIA many years ago advised its assets in the mainstream press to employ to discredit those who were questioning the official narrative in the case.

Like many others, I have studied the evidence in the case. After doing that, I concluded that the circumstantial evidence pointing toward a regime-change operation has reached critical mass. Based on that evidence, for me the Kennedy assassination is not a conspiracy theory but rather the fact of a national-security state regime-change operation, no different in principle than other regime-change operations, including through assassination, carried out by the U.S. national-security establishment, especially through the CIA.

…click on the above link to read the rest of the article…

Business Uncertainty About Sales Goes Haywire

Business Uncertainty About Sales Goes Haywire

These Charts Show What Mess Businesses Face Going Forward.

I’m going to show you a chart based on data that the Atlanta Fed released today. We’ll dissect it in a moment. The chart would be funny, if it weren’t so serious. At first, just look at the chart superficially. These results are based on surveys of businesses of a wide variety of sizes, spread across all sectors of the economy (except agriculture and government), in all regions of the US. They’re asked about their own businesses, in terms of sales, employment, and capital investment over the next 12 months. And the chart also shows how uncertain the participants are about their own expectations.

So this is about expectations for their own businesses, and about the uncertainty of their own expectations. For now, just look at the chart without analyzing it: It shows better than just about anything else what mess businesses face going forward: Their world has gone haywire.

The pandemic has hit businesses differently. Some businesses have reported booms in demand because of the shifts cause by the lockdowns and other factors, and they have trouble keeping up. Other businesses are in a state of collapse or have filed for bankruptcy. And then there’s every business in between. And these results are the averages of the pandemic’s winners and losers combined.

Expectations of Growth and the Uncertainty of those Expectations.

There are two factors here in the Atlanta Fed/Chicago Booth/Stanford Survey of Business Uncertainty: These companies’ expectations; and their uncertainty about their own expectations.

Business expectations.

Expectations of sales growth over the next 12 months (red line in the chart below has been trending down since November 2018 (high of 128.5). This was later borne out by the slowing economy. Those expectations were already low before the pandemic hit in December 2019 (86.7), indicating a further slowdown of the economy for 2020, and remained roughly in that range in January and February.

…click on the above link to read the rest of the article…

Olduvai IV: Courage
In progress...

Olduvai II: Exodus
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