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The man who trades freedom for security does not deserve nor will he ever receive either. – Benjamin Franklin
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The House on Saturday passed a set of foreign aid bills that would send $61 billion to Ukraine, $26 billion to Israel, and $8 billion to the Indo-Pacific region.
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In a new poll conducted by the Financial Times and Michigan’s Ross School of Business, data shows there is a rare bipartisan agreement among Republicans and Democrats – Both sides believe that there are no housing advantages for the their political opponents and 70% of leftists, independents and conservatives alike rate affordability as one of their top three concerns. In other words, Americans disagree on almost everything else, but they all recognize that most of them are in deep trouble when it comes to keeping a roof over their heads.
It’s not just the math, it’s the daily drain on people’s pocketbooks that makes the problem so undeniable.
While the Biden Administration has spent the better part of the past year claiming that “inflation is going down” the reality has been far more bleak. Surveys also show that 62% of homeowners has struggled at least periodically in the past year to make their mortgage payments and half of all renters also reported difficulty keeping up with monthly payments. Over 22% skipped meals, 20% worked extra hours and 20% sold belongings to pay their housing costs on time.
Disturbingly, 60% of poll respondents who make $100,000 or more per year also ranked housing costs at the top of their list of worries going into 2024. Meaning, the crisis is spreading well beyond low income families and is dragging down the middle class.
Read moreHousing Costs Are Crushing The American Middle Class, But How Can We Fix The Problem?
Cocoa hyperinflation is insane. The latest data from the futures market shows that cocoa prices in New York surged above the $12,000 per ton level today as the pace of processing in factories remains robust. This indicates that demand destruction has yet to emerge despite the massive multi-month parabolic price surge.
Cocoa futures surged 18% in the last two days to a record high of $12,125. Prices are up more than 190% year-to-date and are in breakout territory.
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Via Greg Hunter’s USAWatchdog.com,
Back in February, when everyone was predicting a Fed rate cut, precious metals expert and financial writer Bill Holter said rates would be going up and not down. Since that call, the 10-Year Treasury is up more than 30 basis points. It closed today at 4.67%. Now, Holter is still calling for higher interest rates that will coincide with higher gold and silver prices.
Why? It’s called inflation, and it’s not temporary.
Holter explains, “Foreigners are backing away from buying Treasuries…”
“That is the only thing that has kept the doors open, so to speak, is the fact we are able to borrow an unlimited amount of money because we are the world reserve currency.
Foreigners backing away from our debt is going to lead the Federal Reserve to be the buyer of last, and then, only resort. So, you will have direct monetization between the Fed and the Treasury.
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The Oakland Institute published a detailed report in February 2023 titled “War and Theft: The Takeover of Ukraine’s Agricultural Land”, which exposed how foreign firms have clandestinely taken control of a significant share of Ukrainian farmland by exploiting a liberal law in collusion with local oligarchs. Their findings made waves around the world at the time but eventually receded from the public’s attention over half a year later once Western outlets like the USA Today misleadingly “fact-checked” it.
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