Full Screen Recommended
Dan, IAllegedly, AM 6/22/21:
"Michael Burry is Shorting Cryptos and Meme Stocks - Is it over?"
So, we rise from the rubble...
Tuesday, June 22, 2021
"Five-Year Forecast"
"Five-Year Forecast"
by Bill Bonner
YOUGHAL, IRELAND – "Midsummer has arrived! Sunday was the longest day of the year in the Northern Hemisphere. The farther north you are, the longer the day. Here, it was light until almost 11 p.m. We went over to the little seaside town of Ardmore, where the church has reopened for the summer season.
“It’s Father’s Day,” explained the white-haired priest. “I scarcely ever saw my father until I was 9 years old. It was World War II, and he was in the Royal Air Force (RAF). When he came back to Ireland… he brought his ration of chocolate with him. That endeared him to me forever. It was a long trip back then, from London to Ardmore. You had to cross England by train, take the boat across the Irish Sea, and then take the train down from Dublin. I found out later that part of the reason I saw so little of him was that he became violently seasick and hated the trip. Nowadays, we would just get on a plane.”
Out on the streets of Ardmore, flowers were in bloom everywhere… even bursting out of the cold, stone walls. Lovers strolled arm in arm. Birds sang in the trees.
Irish Summer: But this morning, cold winds blow in off the Atlantic. Clouds scoot over the treetops. The temperature will barely make it into the 60s today. “In Ireland, you can’t wait for a real summer; you have to take what you can get,” says a neighbor. And so, people go about in shorts and t-shirts… appearing not to notice the chilly winds. Families go to the beach… and wrap themselves in towels to keep from freezing. The public pools are open, where children take swimming lessons and turn purple. Yes, it’s an Irish summer… and it is delightful.
FOMO: But we must turn our attention to the world of money… where two dark clouds hang over the summer fun. First, with stocks at/near all-time highs, there is the threat of a major selloff in the markets. Michael Burry, hero of the mortgage bubble crisis, says it will be the “mother of all crashes.” Business Insider is on the story: “All hype/speculation is doing is drawing in retail before the mother of all crashes,” the investor tweeted. “When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries.”
Burry added that people’s fear of missing out has propelled asset prices to unsustainable levels. “#FOMO Parabolas don’t resolve sideways,” he cautioned. Nope. Prices don’t go up, like a baseball off a bat… and just stay in the air. Gravity brings them back down to Earth. The higher they fly… the further they fall.
Dark Cloud: But wait… What about the other dark cloud – inflation? Won’t it keep them aloft? Won’t the Federal Reserve’s money-printing guarantee higher stock prices? And shouldn’t a prudent investor stick with stocks, at least until the inflationary threat is over?
Earlier this month, we found out that inflation in the U.S., officially, is running over 5% – for only the second time in 30 years. If they calculated it the way they did in the 1980s, it would be over 10%. Tim Congdon is one of Britain’s leading economists. Last week, he released a report, 'Where Does U.S. Inflation Go From Here?', in which he concluded: "The annual rate of U.S. consumer inflation between now and end-2022 will typically run in the 5%–10% band."
Like a tornado, inflation picks up everything in its path, sends it swirling high into the air… and leaves the ground littered with debris once it has gone. It destroys markets, economies, governments, and whole societies. And with such a funnel cloud approaching, you’d think the feds would want to head for a storm shelter. Instead, they’re spreading out a picnic blanket and spraying on the insect repellent. The Fed is continuing its $120 billion per month money-printing.
The “dot plot” of anticipated rate increases shows none are likely, neither this year nor next, with two expected in 2023. And Senate Democrats are pushing ahead with plans for a $6 trillion “go it alone” spending extravaganza. The EZ money will keep coming, in other words. And all of this money will eventually show up in prices. Where else could it go?
Five-Year Forecast: But in the meantime, as the twister draws closer, investors will become unsettled. A study by economists at investment research firm Gavekal shows that rising inflation levels means falling stock market gains: "For the last 130 years (the period for which we have data both for U.S. prices and for the U.S. stock market), all the excess return on U.S. equities relative to cash have been realized during periods of decelerating inflation. The excess returns during periods of accelerating inflation have been a robust zero."
They go on to say that since World War II, every major bear market (with a drop of 50% or more) has come during a time when consumer price increases are speeding up. Which should investors fear – a crash or inflation? The answer is… both.
And herewith our simple Five-Year Forecast: The feds will inflate. The stock market will deflate. And then… the feds will inflate even more… until the inflation tornado has made a wreck out of everything."
"There Are Simply No Answers..."
“How is one to live a moral and compassionate existence when one is fully aware of the blood, the horror inherent in life, when one finds darkness not only in one’s culture but within oneself? If there is a stage at which an individual life becomes truly adult, it must be when one grasps the irony in its unfolding and accepts responsibility for a life lived in the midst of such paradox. One must live in the middle of contradiction, because if all contradiction were eliminated at once life would collapse. There are simply no answers to some of the great pressing questions. You continue to live them out, making your life a worthy expression of leaning into the light.”
- Barry Lopez
"Complain But Remain"
"Complain But Remain"
by Jeff Thomas
"All countries have a “shelf-life” of sorts. Generally, they begin when an old, top-heavy government collapses from its own weight. The end of the old regime is characterized by civil unrest, revolution, secession, economic collapse or some combination of these conditions. The new country generally has minimal government and little or nothing in the way of entitlements. It’s “sink or swim” for the people, and the recovery generally begins when a portion of the population rolls up its sleeves and creates an economy based upon production.
Over time, often a century or more, the population gets better at production and the country becomes wealthier. Along the way, whatever limited government existed has done all it could to expand itself. Governments, by their very nature, are parasites, living off the productive class, and eventually that parasite has the power to dominate those who produce, by promising largesse to those on the lower levels – who are in every society, the majority of voters.
This pattern has been followed for millennia. A nation establishes its freedom; it begins a productive economy; it develops wealth; it is taken over by a parasitical government; it goes into decline; it collapses, and the cycle begins anew. At any point in history, there are always countries at every stage of this pattern.
Most of us have no problem in comprehending the initial stages, but, when the decline begins, it’s human nature to adopt the vain hope that the pattern will somehow reverse itself – that the snowball that’s rolling downhill ever more rapidly will somehow screech to a halt and roll back up the hill. It never happens.
The worst stage, of course, is the inevitable collapse, and the stage when the greatest number of people are in the greatest level of denial is just prior to the collapse. Only a few years before a collapse, most people in a country are still saying that it will all work out “somehow.” However, as the collapse gets closer, an increasing number of people start to say, “This is not going to work out. This is going to be very bad.”
And then, something quite surprising occurs. The vast majority of the individuals who see a dark future approaching them, just wait for the collapse to happen. They complain but remain. Some of them buy a few cases of canned goods and store them in the cellar. Some buy weaponry. Some purchase some gold or silver in preparation for a monetary collapse. Each of these preparations is likely to soften the blow of a systemic collapse. And each brings a level of comfort to the individual who recognizes that his country is reaching its sell-by date.
The trouble is, this comfort is much like driving a car whose brakes are failing. You realize that the car will soon go off the cliff but somehow take comfort in the fact that the car has an air bag. Of course, it would be more costly and certainly much more inconvenient to have thought ahead and have bought a newer, safer car, yet very, very few people actually take that step prior to a national collapse.
Over the decades, I’ve routinely predicted market crashes and depressed economic periods before they occurred. This is not something that requires a crystal ball. The ability to see dramatic change coming is largely a question of three factors: study history, pay attention to unfolding events and be honest with yourself as to what those events indicate for the future.
Prior to each economic downturn, I’ve warned clients, partners, friends and associates as to what I saw coming. The reaction in each case was the same: only about ten percent actually bothered to listen to and remember the warnings. The others simply tuned it out. Of the ten percent that listened, only about ten percent of that number actually prepared themselves for a possible change. Therefore, only about one percent actually were prepared when the change arrived on their doorstep and, so, were minimally affected.
Interestingly, whenever a negative economic shift occurred, the ninety percent who had tuned out the warning, almost invariably commented afterward, “No one could have seen this coming.” When reminded that they had been warned, they uniformly insisted that they’d never received any such warning. They were not being untruthful – they simply had never taken the information on-board in the first instance and therefore had no recollection of it. Since this was the case, these same individuals (the ninety percent) learned nothing from the downturn and they, almost to a man, repeated the same mistake when the next negative event occurred.
But, today, we’re approaching the mother of all economic collapses – one for the record books. Never have the mistakes made by the world’s governments been so extreme. Never have the debt levels that cause economic collapses been so irreversible. And so, as we get closer to the first of the economic dominoes that will fall, an increasing number of people are experiencing an inexplicable bad feeling in the pit of their stomachs. They recognize that something quite bad will soon befall them but don’t fully understand it.
Based upon past experience, my estimation is that only one in ten will recognize that trouble is headed their way and only one in that ten will actually take positive action to geographically remove himself from ground-zero in anticipation.
The image above tells us that a building has been condemned. As the notice states, it’s dangerous and unsafe. The notice is printed on brightly colored paper, in case we’re still not paying attention. Unfortunately, economic collapses do not come with such helpful notices. We must seek our own information and draw our own conclusions. That does not, however, mean that a collapse won’t happen. It only means that we must be more diligent if we’re to ensure that we’re well-away when a collapse does come.
For many years, I’ve been advising people on internationalization – the practice of diversifying oneself economically and physically in order to minimize the likelihood of becoming a casualty of any one jurisdiction and its negative developments. In the last year, as the collapse has been getting nearer, I’ve been seeing an increasing number of people who state that they’re not sure exactly what’s going to happen, but they realize that they’d better begin to prepare to remove themselves and their families from the growing threat.
Of these, once again, ninety percent are those whom I describe as the “complain but remain” group – those who have the visceral understanding that they’re soon to become collateral damage – those who ask for advice as to what they can do about it – yet, in the end, do less than what’s necessary to remove themselves from impending danger.
It’s clear misguided socialist ideas are running rampant in the US. All signs point to this trend accelerating until it reaches a crisis… one unlike anything we’ve seen before. At present, it’s still possible to take action. All that’s necessary is to overcome inertia."
Gregory Mannarino, AM 6/22/21: "Be Ready! Today Will Be A Market fReaK ShoW! Here's Why"
Gregory Mannarino, AM 6/22/21:
"Be Ready! Today Will Be A Market fReaK ShoW! Here's Why"
Monday, June 21, 2021
"Michael Burry Warns America: Mother of All Crashes Is Coming"
Full screen recommended.
"Michael Burry Warns America:
Mother of All Crashes Is Coming"
by Epic Economist, PM 6/21/21
"It's never easy to predict when a stock market crash will occur. But one thing is certain: the next stock market crash is unavoidable - because every boom leads to a burst. Recently, several market veterans and financial analysts have been sounding the alarm for a major correction, arguing that valuations have hit extreme levels. Many of them are currently saying that inflationary pressures will be the cause of the next crash and, unlike any of the previous situations, inflation won't cause mere "temporary" disruptions on the market's outlook. As the inflation crisis has started to spiral out of control, they now worry we're now headed to something much worse: An epic inflationary collapse that will pop all asset bubbles. This means today's speculative and highly-leveraged stock market has its days counted and literally everyone who predicted previous crashes is warning that the next one may arrive sooner than most people think.
The combination of massive government debt, asset bubbles, and bad demographic trends has created a weakness in financial markets. The head of Scion Asset Management, Michael Burry, who became famous after his winning bet against mortgages was featured in the movie “The Big Short,” issued another series of tweets warning investors about losses in “the size of countries” in case crypto and meme stocks sharply decline. He alerted that those who are now buying meme stocks and cryptocurrencies are signing up for devastating losses. And everything Burry says is closely watched by the meme-stock crowd that follows him on Twitter ever since he took a bullish position on the video-game retailer GameStop in 2019 - which helped to set the stage of the epic stock market frenzy led by retail investors earlier this year. However, his views about those stocks have changed and evolved into warnings about dangers in the market.
“If I put $GME on your radar, and you did well, I’m genuinely happy for you,” he wrote. “However, what is going on now - there should be legal and regulatory repercussions. This is unnatural, insane, and dangerous". "All hype/speculation is doing is drawing in retail before the mother of all crashes," the investor warned in a recent tweet. "When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries". Moreover, the investor also sounded the alarm for all crypto fans who have been recklessly borrowing just to purchase their favorite coins. "The problem with #Crypto, as in most things, is the leverage. If you don't know how much leverage is in crypto, you don't know anything about crypto," he tweeted. Burry isn’t alone in his recent warnings about the imbalances in the stock market.
Warren Buffett, Harry Dent, JohnHussman, Jeremy Grantham, Jim Rogers, Jeffrey Gundlach, Mark Yusko, and many others, are also calling for a sizable crash. Even Bank of America said earlier this year that the S&P 500 would likely return to an average of 2% given how high valuations already were at that point. Another recent forecast came from no one less than the renowned geopolitical and financial cycle expert Charles Nenner. In a recent interview with USAWatchDog's Greg Hunter, when asked how low could the market go, Nenner said: “20,000 or lower is my call". Spooked, Hunter asked Nenner if he honestly thought the market could get cut in half, to which Nenner promptly replied “yes.”
Evidently, the catalyst for the next crash will be inflation. Although the Federal Reserve keeps insisting that inflation is “transitory”, Nenner maintains that since it is already here, it will only get much worse. In the face of rising prices across a wide range of goods and services, it feels like we already are witnessing the impacts of inflation on a daily basis. But what all of those experts have been trying to put in between the lines is that what we're going through right now, even though it is incredibly overwhelming, it is just a taste of what is coming next. The only question remaining is at what point does the mounting risk of a crash become too unbearable? And it seems that many investors are willing to learn the answer the hard way."
"A Look to the Heavens"
“These three bright nebulae are often featured in telescopic tours of the constellation Sagittarius and the crowded starfields of the central Milky Way. In fact, 18th century cosmic tourist Charles Messier cataloged two of them; M8, the large nebula left of center, and colorful M20 on the right. The third, NGC 6559, is above M8, separated from the larger nebula by a dark dust lane. All three are stellar nurseries about five thousand light-years or so distant.
The expansive M8, over a hundred light-years across, is also known as the Lagoon Nebula. M20's popular moniker is the Trifid. Glowing hydrogen gas creates the dominant red color of the emission nebulae, with contrasting blue hues, most striking in the Trifid, due to dust reflected starlight. The colorful skyscape recorded with telescope and digital camera also includes one of Messier's open star clusters, M21, just above the Trifid.”
- http://apod.nasa.gov/apod/astropix.html
•
"When I heard the learn’d astronomer,
When the proofs, the figures, were ranged
in columns before me,
When I was shown the charts and diagrams,
to add, divide, and measure them,
When I sitting heard the astronomer where
he lectured with much applause in the lecture-room,
How soon unaccountable I became tired and sick,
Till rising and gliding out I wander’d off by myself,
In the mystical moist night-air, and from time to time,
Look’d up in perfect silence at the stars."
- Walt Whitman
•
"When I heard the learn’d astronomer,
When the proofs, the figures, were ranged
in columns before me,
When I was shown the charts and diagrams,
to add, divide, and measure them,
When I sitting heard the astronomer where
he lectured with much applause in the lecture-room,
How soon unaccountable I became tired and sick,
Till rising and gliding out I wander’d off by myself,
In the mystical moist night-air, and from time to time,
Look’d up in perfect silence at the stars."
- Walt Whitman
Chet Raymo, “The Sound And Fury”
“The Sound And Fury”
by Chet Raymo
“Not so long ago, I mentioned here Himmler and Heydrich, two of Hitler's most terrible henchmen. A friend said to me: "If there's no afterlife, no heaven or hell, then those two diabolical creatures got away with it. Their fate was no different than that of any one of their victims, an innocent child perhaps." And, yes, if there is no God who dispenses final justice, then we are left with an aching feeling of irresolution, of virtue unrewarded, of vice unpunished. Heydrich was gunned down by partisan assassins, and Himmler committed suicide a few hours before his inevitable capture, both fates arguably less tragic than that of their victims. How much more satisfying to think that the two mass murderers will spend an eternity in hell, while their victims find bliss.
This may not be a logically consistent argument for the existence of God, but it is certainly compelling. My friend says: "If there's no afterlife, then it's all sound and fury, signifying nothing. Of course, this emotive argument for the existence of God is balanced by another argument against his existence – the problem of evil: How can a just and loving God allow the existence of a Himmler or Heydrich in the first place. Here the argument is not just emotional, but consists of a thorny contradiction.
It comes down, essentially, to head vs. heart- what we would like to be true with all of our heart, vs. what our head tells us is an unresolvable conundrum. So each of us decides: To follow our hearts and make the blind leap of faith, or to follow our heads and learn to live with the sound and the fury. For those of us who choose the second alternative, the relevant words are that distressing coda, "signifying nothing." Our task is one of signification, of finding a satisfying meaning this side of the grave.
For many of us, that means finding our place in the great cosmic unfolding, and of recognizing that our lives are not inconsequential, that by being here we jigger the trajectory of the universe in some way, no matter how small, and preferably for the good and just. Yes, we make a leap of faith too, I suppose - that love, justice, and creativity are virtues worth living for - but at least it is a leap of faith that is not into the unknown, does not embody logical contradiction, and is consistent with what we know to be true, or at least as true as we can make it.”
This may not be a logically consistent argument for the existence of God, but it is certainly compelling. My friend says: "If there's no afterlife, then it's all sound and fury, signifying nothing. Of course, this emotive argument for the existence of God is balanced by another argument against his existence – the problem of evil: How can a just and loving God allow the existence of a Himmler or Heydrich in the first place. Here the argument is not just emotional, but consists of a thorny contradiction.
It comes down, essentially, to head vs. heart- what we would like to be true with all of our heart, vs. what our head tells us is an unresolvable conundrum. So each of us decides: To follow our hearts and make the blind leap of faith, or to follow our heads and learn to live with the sound and the fury. For those of us who choose the second alternative, the relevant words are that distressing coda, "signifying nothing." Our task is one of signification, of finding a satisfying meaning this side of the grave.
For many of us, that means finding our place in the great cosmic unfolding, and of recognizing that our lives are not inconsequential, that by being here we jigger the trajectory of the universe in some way, no matter how small, and preferably for the good and just. Yes, we make a leap of faith too, I suppose - that love, justice, and creativity are virtues worth living for - but at least it is a leap of faith that is not into the unknown, does not embody logical contradiction, and is consistent with what we know to be true, or at least as true as we can make it.”
The Poet: J.R.R. Tolkien, "I Sit And Think"
"I Sit And Think"
“I sit beside the fire and think
Of all that I have seen,
Of meadow flowers and butterflies
In summers that have been.
Of yellow leaves and gossamer
In autumns that there were,
With morning mist and silver sun
And wind upon my hair.
I sit beside the fire and think
Of how the world will be
When winter comes without a spring
That I shall ever see.
For still there are so many things
That I have never seen,
In every wood, in every spring,
There is a different green.
I sit beside the fire and think
Of people long ago,
And people that will see a world
That I shall never know.
But all the while I sit and think
Of times there were before,
I listen for returning feet
And voices at the door.”
- J.R.R. Tolkien
Gregory Mannarino, PM 6/21/21: "Inflation Skyrocketing, Economy Cratering, Crude Surging, Dollar Falls, MORE!"
Gregory Mannarino, PM 6/21/21:
"Inflation Skyrocketing, Economy Cratering,
Crude Surging, Dollar Falls, MORE!"
"The Majority Of Us..."
"The majority of us lead quiet, unheralded lives as we pass through this world. There will most likely be no ticker-tape parades for us, no monuments created in our honor. But that does not lessen our possible impact, for there are scores of people waiting for someone just like us to come along; people who will appreciate our compassion, our unique talents. Someone who will live a happier life merely because we took the time to share what we had to give. Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have a potential to turn a life around. It’s overwhelming to consider the continuous opportunities there are to make our love felt."
- Leo Buscaglia
"On The Verge Of The Unthinkable"
"On The Verge Of The Unthinkable"
by Michael Snyder
"Over the past couple of years we have become accustomed to expecting the unexpected, but soon we many have to start anticipating the unthinkable. In this article, I am going to be discussing a couple of potential scenarios that would have been unimaginable to the vast majority of Americans just a few short years ago. Unfortunately, our world is now changing at a pace that is absolutely breathtaking, and many things that were once “unimaginable” could soon become reality.
Let’s start by talking about the record-setting heat wave which is making the epic megadrought in the western half of the country even worse. Many western farmers planted crops this year hoping that weather conditions would eventually turn in their favor, but that has definitely not happened. In fact, at this point 88 percent of the West is experiencing at least some level of drought.
2021 has been the worst year of this multi-year megadrought so far, and last week was the worst week for this drought up to this point in 2021. Old temperature records were shattered all over the West, and some areas were already seeing triple digits by 8 o’clock in the morning… "The West is in the midst of a record-breaking heat wave this week, as all-time records were shattered and daily records broken in over a dozen states. Even by desert standards, the heat wave in the Southwest is atypical. On Thursday, the National Weather Service in Tucson tweeted that the city recorded a temperature of 100 degrees at 8:14 a.m., the second earliest time in the day recorded since 1948."
That is crazy. Can you imagine hitting triple digits before you have even finished your morning coffee? Summer had not even officially begun yet last week, and yet new all-time record highs were being established all over the place… "Record-breaking temperatures spread from California to Montana this week. On thursday, the all-time high temperature was tied in Palm Springs, California at 123 degrees, breaking the previous June record of 122 degrees.
Salt Lake City tied its all-time record high of 107 degrees. The old record was notably set in July - when temperatures are usually at their highest for the year in that region. This comes after daily record highs were broken Sunday, Monday and Tuesday in Salt Lake, each with temperatures exceeding 100 degrees."
We have never seen anything quite like this in the state of Utah. More than half of the state is in the highest level of drought, and thanks to dramatic water restrictions farmers are being forced to choose which of their crops will die… "With drastic limits placed on what little water he has, Tom Favero said he and many farmers along this west side of Weber County were forced to watch some crops die. “We’ve all made serious choices of what fields we can water and what we can’t,” Favero said."
Another Utah farmer that lost a lot of corn and an entire field of barley said that it really “hurts” to see his hard work go to waste… "Farmer Dean Martini pointed at one of his fields. “That corn there, where I can’t water, I don’t have the water. It makes me sick to see it go to heck like that.” With limits on amount and time, he said there wasn’t enough water flowing to make it across his fields. While some of the corn dried up, he had to let a whole field of barley go too. “It hurts buddy. That hurts,” Martini said.
Of course this is just the beginning. If this summer is as hot and as dry as they are projecting, we could see catastrophic crop failures all across the West. And that is really bad news, because the state of California alone produces more than a third of our vegetables and about two-thirds of our fruits and nuts.
A few years ago, hardly anyone would have imagined that we would be facing a crisis of this magnitude in 2021, but here we are. Paleoclimatologist Kathleen Johnson is quite “worried” about what will happen this summer, and she is warning that this drought is shaping up to be the worst the region has experienced “in at least 1,200 years”… I’m worried about this summer – this doesn’t bode well, in terms of what we can expect with wildfire and the worsening drought. This current drought is potentially on track to become the worst that we’ve seen in at least 1,200 years.
Now I would like to shift gears. A few years ago, hardly anyone would have imagined that we would be facing a very serious computer chip shortage in 2021. In particular, the most sophisticated chips are really in short supply, and what most people don’t realize is that “almost all” of them are made by a single company based in Taiwan… "Taiwan Semiconductor Manufacturing Co. chips are everywhere, though most consumers don’t know it.
The company makes almost all of the world’s most sophisticated chips, and many of the simpler ones, too. They’re in billions of products with built-in electronics, including iPhones, personal computers and cars - all without any obvious sign they came from TSMC, which does the manufacturing for better-known companies that design them, like Apple Inc. and Qualcomm Inc. Because manufacturing those chips is so exceedingly complicated, other companies can’t just plop down new factories and start pumping out their own chips. Business leaders in the U.S. are now planning new factories, but it could take quite a few years before they are up and running."
So even under ideal conditions, the chip shortage will not be resolved for some time. But what happens if China invades Taiwan within the next several years? This is something that U.S. officials were warning about earlier this month… "Concerns are growing in Washington over the possibility that China could try to invade Taiwan in the next few years. Top U.S. military officers have warned in recent months that Beijing might try to make the explosive move this decade, and recent saber rattling, including a Chinese military amphibious landing exercise near the island, is further raising the alarm."
Can you imagine the chaos that it would cause for the global economy if the primary supply of advanced chips was suddenly cut off? According to the Wall Street Journal, TSMC currently makes “around 92% of the world’s most sophisticated chips”… "Its technology is so advanced, Capital Economics said, that it now makes around 92% of the world’s most sophisticated chips, which have transistors that are less than one-thousandth the width of a human hair. Samsung Electronics Co. makes the rest. Most of the roughly 1.4 billion smartphone processors world-wide are made by TSMC."
Without TSMC, the global economy as it is structured today would not be able to function. So the fact that China is being more aggressive than ever with Taiwan should deeply alarm all of us. For example, check out what happened just last week… "China has flown 28 warplanes into Taiwan-controlled airspace, the biggest sortie of its kind since the Taiwanese government began publishing information about the frequent incursions last year. The flights are widely seen as part of an effort by Beijing to dial up pressure on Taiwan, a self-governed democracy of about 24 million people off the Chinese coast that the Chinese government considers a part of China."
We should have never allowed ourselves to become so dependent on foreign chips, but we did. And now experts are telling us that the chip shortage will last into next year under the best of conditions… "Dimitris Dotis, the Audi brand specialist at Audi Tysons Corner dealership in Virginia, summed up the situation to customers. “Almost all microchips that go into all new vehicles including Audi come from TSMC in Taiwan,” he wrote. “They expect bottlenecks in the supply chain to last through 2022.” Of course if China does decide to invade Taiwan, the U.S. military will respond, and that would mean no advanced chips for us for the foreseeable future.
In this article, I have shared just two potential scenarios which could soon plunge us into unthinkable nightmares. Needless to say, there are many, many more crisis points that bear watching right now as well. We have reached such a critical moment in our history, and I expect global events to accelerate even more as we head into the second half of 2021."
"Vacci-Nation"
"Vacci-Nation"
by Ben Garrison
"In my latest book, “Make America Well Again,” I make a reference to Milton Friedman who said, “Nothing is so permanent as a temporary government program.”
In the case of COVID-19, it began to look as if slave mask wearing would become permanent. Then mandatory vaccines and vaccine passports would also become permanent. Surely, that’s what the cabal running things behind the scenes wanted.
Fortunately more and more people are waking up to the Scamdemic. With a survivability rate well over 99 percent, it wasn’t really a pandemic at all. The mortality data were skewed to drive up the number of deaths. The PCR testing for the virus was serious flawed and inaccurate. People who died of flu and other ailments were declared dead of COVID-19 if they also harbored the virus.
Many states have dropped their mask mandates and less and less people are wearing them as summer approaches. Sunlight makes it nearly impossible to catch the virus outside. Fewer people are wearing the masks and that’s a good sign. Of course, businesses and restaurants are now saying masks for vaccinated people aren’t necessary but the unvaccinated still need to social distance and wear masks, but how can they enforce such a farce? Without the ‘your papers please’ intrusion there is no way to know. Besides, many states are passing laws prohibiting vaccine passports. Another good sign.
Many Americans remain ‘hesitant’ about getting COVID-19 vaccines, which are really jabs containing experimental gene therapy. The hesitant ones are the smart ones. States are tempting people to get the shots by means of bribery. Some are easily swayed to get inoculated by means of a glazed donut or free hamburger. In Ohio, they set up a lottery. The jabbed get a chance at winning one million dollars. Why the big press to get noxious substances injected into citizens that have proven severe side effects and even death?
Coronavirus weariness has set in. Americans have had it with the lies and power grabbing by hypocritical politicians who have been caught many times violating their own mask and social distancing mandates (Governors Whitmer and Newsom, for examples). Don’t take the dangerous inoculations. You are not a lab rat. Don’t wear the masks. Resistance the globalist control freaks. What will they do then? Gates will probably see to it that a more dangerous version of the virus gets trotted out. He’s already predicated it. Then they will cry for more lockdowns, mask wearing, and even more vaccines will be rolled out over and over again. Say no to Gates and Fauci. Instead of following their mandates, lock them up! Resist medical tyranny!"
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Related, highly recommended:
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"VAERS data released today by the CDC showed a total of 358,379 reports of adverse events from all age groups following COVID vaccines, including 5,993 deaths and 29,871 serious injuries between Dec. 14, 2020 and June 11, 2021."
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Related, must read!
"Thinking Out Loud"
"Thinking Out Loud"
by Jim Kunstler
"Events are tending toward an unfortunate convergence that may leave the USA in a very reduced condition before the end of this year, while the “Joe Biden” government cripples all our institutions, especially the military, with race-and-gender mind-fu**ery as a distraction from its own coming and untoward collapse. The “president” is back from his toilsome travels through Europe, which included a summit meeting to butter-up Vladimir Putin, hoping to possibly use Russia as a buffer against an increasingly hostile China.
In a kind of comic reversal of George W. Bush’s first meeting with Vlad Putin - “I was able to get a sense of the man’s soul,” W said - this time, Vlad looked into “Ol’ Joe’s” eyes and probably saw the ghost of Konstantin Chernenko. You may recall Ol’ Konstantin led the foundering Soviet Union for about a year, his final months from Moscow’s Central Clinical Hospital, where emphysema, congestive heart failure, and cirrhosis of the liver laid him low. “Joe Biden” did not start smoking cigarettes at age nine, as Chernenko had, but when Vlad P Looked into his eyes, he probably saw a 15-watt bulb flickering within, and played him accordingly. After the summit, Vlad sized-up the “POTUS” as “professional” for the press - a witty snark, if ever there was one.
You can see a procession of events now marshaling up toward an epic storm of bad karma for this exceptional nation of ours turning the corner into summer and then the fall. Of course, the friendly news media is not fully reporting the latest institutional failure, that is, the perfidious behavior of US chief health official Dr. Tony Fauci who, with either stupefying naïveté or by some other motive, assisted China in the development of a bio-weapon, which China then loosed upon the USA (and everybody else). Net result: millions dead around the world, and an awful lot of people here now extremely suspicious of the vaccines being aggressively touted by the government. Meanwhile, the roughly half of the US population who took the vaxes now have to worry about what the active ingredient, a toxic spike protein, is doing to their hearts, blood vessels, brains, and other organs, and whether something worse awaits down-the-road. Has a trap been set? (We’ll get to that below.)
Just now, we have news of the strange case, revealed last week, of a “top Chinese counter-intel official,” a vice-minister of State Security, name of Dong Jingwei, defecting to the USA back in February. The strange part is that he came in from the cold to the Defense Intelligence Agency (DIA) because he did not trust the CIA or the FBI to be outside China’s influence, and Dong sought protection from them. More American institutional failure? This raises a whole bale of questions, including whether Dong is a double-reverse disinfo agent, or what? It is rumored that he is proffering even more sordid dirt on “Joe Biden’s” son, Hunter, than is already known from the memo-and-email cache lodged on his infamous laptop-from-hell - not just sexual escapades while in China, but details of big money deals made for the Biden family business. And not just that, but heaps more dirt on other prominent political figures paid off by China. As if the US government is not already in a bad odor with at least half the country’s citizens.
This Chinese spy tale is ripening at exactly the same time that the Maricopa County, AZ, election audit concludes phase one of its operations - scaring the panties off of the DNC and its PR staff at MSNBC, CNN, and the WashPo - with a lot of noises coming in from Georgia and Pennsylvania about likewise conducting vote audits. All that, plus Dong’s garbage barge of toxic political dirt, suggests that “Joe Biden” will have an even shorter run than Konstantin Chernenko did. We may find ourselves in an intense constitutional crisis by mid-summer. Hold that thought….
While all that is cooking on one front burner, we also have the case of the US equity markets burbling away at bubblicious highs on another burner, and therefore primed for a nauseating boil-over. Would new and lethal government scandal supply the few extra therms for that? And by scandal, I mean something more like a broad loss of legitimacy and paralysis of the “Joe Biden” government. Also, how would a market train-wreck affect the credit markets? The US dollar? Whatever is left of the on-the-ground economy? Let’s just say it sure won’t act as a tonic for any of that; more like a slug of ethylene glycol. So now we're talking about a simultaneous government crisis and financial crisis.
Now, consider what might happen in the fall if a potent new strain, or “third wave,” of Covid-19 virus wafts across America. We’ve already seen speculation in the medical media that the residual action of mRNA “vaccines,” if exposed to yet another novel coronavirus, might tend to whack-out the immune response of those who got vaxed, killing them, as well as killing a new cohort of victims among the unvaxed, adding up to many millions of dead Americans. How would the country manage any of this along with a twin crisis of economy and government? We couldn’t even manage the pandemic when our institutions were supposedly still functioning.
And now, consider what might happen if China decides this is a good time to gain control of Taiwan (and the world’s leading chip manufacturers). A savvy friend of the blog writes: "They’ll hit Taiwan, Guam, Vietnam, South Korea, Philippines, Australia. Iran would move to secure the overland route from China to Africa. The Israeli/Saudi coalition could stop Iran but only if China didn’t help Iran. (Iran/China are far ahead of us in drone swarm warfare.)
China could overrun all of it in a matter of weeks and establish a deep defensive perimeter before we could effectively respond. More importantly they’ll hit our infrastructure so hard we’ll have a hard time hitting back effectively for years.
Last year pretty much exposed our weakness; now they’ll move to exploit it. They’ll not wait till 2030, as our fearless leaders are touting, otherwise we might have time to mend our ways. Tsun Tzu dictates they act now. My bet is they follow his guidance. It is the one area they are most predicable. Xi is following 'The Art of War 'to the letter so far.”
Kind of makes you take a deep breath and say, Whoaaaa…?
Those are known unknowns, as Mr. Rumsfeld liked to say. Add to that the known known of the mega-drought that has already developed in the American West and its implications for the food supply (not to mention the electric supply from the great western dams and the water supply to the western mega-cities). And add to that the extremely bad mood the various ethnic and racial groups remain in, due to the years-long DNC-Marxist fermentation of hatred among us. It all boils down to something that looks like an American collapse. Just sayin’. Also sayin’ it might be a really good time to lay in a few extra bags of rice, dried beans, and chili powder to make it edible."
Sunday, June 20, 2021
"Homelessness Is Becoming A Crisis Of Epic Proportions In The United States"
Full screen recommended.
"Homelessness Is Becoming A Crisis Of
Epic Proportions In The United States"
by Epic Economist
"Can you imagine what your life would look like if you didn't have a home? For millions of Americans, this isn't something they need to imagine, because this is the reality they live in. Ever since health crisis' restrictions were put into place - triggering the widespread shutdown of U.S. businesses - unemployment rates have soared. In fact, America has seen an unemployment rate higher than at any time in the country’s history, including the Great Depression. As a multitude of workers started to struggle with job loss, many of them simply became unable to afford rent or mortgage payments. Millions are still at the brink of eviction, while others already lost their homes.
At this point, as the number of people without a home rapidly rose across the country, it has been hard to keep track of the real rate of homelessness. Recent estimates suggest that there are at least 1.5 million homeless people in the U.S., and over the past 12 months, even with the CDC's moratorium, that number never ceased to grow. While the wealthy engage in fierce bidding wars, pay over a million dollars above the asking price for a home, and purchase entire neighborhoods for a quick profit, affordable housing has become impossible to find. Rents have been ticking up too. And all of that is contributing to force more and more impoverished Americans into the streets with each passing day. What we're seeing in 2021 is rapidly becoming a crisis of epic proportions.
Believe it or not, this crisis is more severe in the wealthiest state of the nation. California’s homeless problem has been out of control for decades, but things have significantly worsened after the health crisis began. Approximately 160,000 homeless people currently live in the state, but many believe that the official figure is way too low. Even though California alone is known as an economic superpower, its high cost of living, lack of affordable housing, scattershot efforts with too many agencies, too much red tape, and the lack of a clear direction have all made tackling homelessness in the state even harder. However, the homelessness crisis is growing all over the country. What many Americans are failing to realize is that the reality of those who live in the streets right now is not so far away from those who live paycheck-to-paycheck. Sometimes, all it takes is one unexpected event to push a person straight into poverty.
With rich investors buying entire neighborhoods to transform them into rental units so that they can charge exceedingly high rent prices, and, on the other hand, low-income workers are effectively losing the opportunity to ever own a home due to this extremely competitive housing market, we're headed to a future where only those who can afford to pay expensive rents will have a roof over their heads. In case something happens and you lose your income, you might end up in the streets just as well. In about two weeks, the nationwide eviction moratorium will expire, and economists have been warning that millions more Americans could soon be forced out of their homes, in what they called an "eviction tsunami".
At least 5.7 million Americans, which represent almost 14% of all renters nationwide, had fallen behind on their rent in April. A study released by the National Equity Atlas exposed that tenants owed approximately $20 billion in rent, with low-income people among those worst affected. By May, over 40% of the 7 million tenants behind on rent at the time worried that they could be evicted in the next two months, according to the US Treasury. It's safe to say that now, the rate of tenants behind on rent payments is far greater.
This crisis is leaving a dark trail all over the nation. And even though some may argue that the government stimulus money may be helping these people, the truth is that the vast majority of the trillions that have been borrowed and spent over the past year were pumped into the financial system and never actually reached those who needed the most. Our leaders have managed to make life much harder for these people as inflation pressures have sent the price of everything up, and those at the very bottom of the economic food chain have been particularly hard-hit by rising prices. At this stage, it doesn't matter what politicians in Washington do, the homelessness crisis in the U.S. just seems to keep escalating. Millions of American citizens will sleep on the streets tonight, and many more will soon be joining them."
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