Sep 07 04:51

Saudis Make Deep Price Cuts To Save Market Share

Saudi Arabia slashed the official selling prices (OSPs) for its oil exports to Asia in October more than expected in a move seen as the world’s largest crude exporter trying to keep and boost its market share while Asian fuel demand is recovering from a dip in recent weeks.

Saudi Aramco lowered its OSPs for the Asian markets for all the grades it sells. The cuts, the first in three months, range from $1.00 to $1.30 a barrel. Arab Light, the flagship crude grade of the Kingdom, will be selling in Asia at a $1.70 a barrel premium over the Oman/Dubai benchmark in October, after a massive $1.30 cut from the September price of $3.00 above Oman/Dubai, off which Middle Eastern exporters price their crude bound for Asia.

Sep 06 07:51

Almost 50 shops a day disappear from High Streets

More than 8,700 chain stores closed in British High Streets, shopping centres and retail parks in the first six months of this year, research suggests.

Sep 06 07:49

BIS Tests International Settlements With Central Bank Digital Currencies

The Bank for International Settlements and four central banks will test the use of digital currencies for cross-border transactions, as global regulators seek to improve the speed of movement of money in a cheaper, more transparent manner.

The BIS Innovation Hub, along with Reserve Bank of Australia, Monetary Authority of Singapore, Bank Negara Malaysia and South African Reserve Bank, aims to develop prototype shared platforms for cross-border transactions using multiple central bank digital currencies, or CBDCs, the group of global regulators said in a Sept. 2 press release.

See also:

Catherine Austin Fitts: Vaccine Passports Are the Means to a Literal Slavery System

Sep 06 07:48

Mediocrity Reigns

The Russian evolutionary anthropologist Peter Turchin coined the term “elite overproduction” to describe the condition of a society that is producing too many potential elite members. These potential elites jostle for positions that are declining in number relative to the increase in elite members. This game of musical chairs creates conflict as these elites engage in a struggle for power within society.

His choice of terms is a bit misleading, as his description of elite overproduction in America is better understood as an overproduction of people who see themselves as potential elites, despite being mediocrities. He points to the glut of lawyers as an example of the excess of people who wildly overestimate their ability. The number of people toting around an MBA is another example of this phenomenon.

Sep 06 07:35


In a Financial Times op-ed, “Investors in Xi’s China face a rude awakening” (August 30, 2021), George Soros writes that Xi’s “crackdown on private enterprise shows he does not understand the market economy. … Xi Jinping, China’s leader, has collided with economic reality. His crackdown on private enterprise has been a significant drag on the economy.”

Sep 06 06:46

Biden's Economics Are About To Hurt 9 Million Of The Most Vulnerable

Over 9 million Americans are about to lose their unemployment benefits and millions more will witness their weekly incomes plummet as a host of federal pandemic jobless assistance programs expire next week.

Three programs covering a combined 12.1 million people will cease on Monday without action from the White House or Congress.

Twenty-six states pulled out of at least some of those programs earlier this summer as businesses fought to fill a record-breaking 9 million job openings.

Sep 06 06:36

Who's Going to Be Left Holding the Bag?

Sep 06 06:22

World Food Prices Jump In August To Near Decade High

Central banks and mainstream media continue to peddle the notion that soaring food inflation is temporary and the average Joe and Jane should not worry about it. But in a new report via the Rome-based Food and Agriculture Organization (FAO), global food prices are on the rise, once again, and back to near-decade highs.

FAO released a statement Thursday that detailed after two consecutive months of declines, world food prices in August jumped due to solid gains in sugar, vegetable oils, and cereals.

FAO’s food price index, which follows international prices of globally traded food commodities, averaged 127.4 points in August, up 3.9 points (3.1%) from July and 31.5 points (32.9%) from the same period last year.

Sep 06 06:06

Could A Civil War Trigger Next Economic Collapse?

Sep 06 05:54

Soros' Dream: To Turn China Into A Neoliberal Grabitization Opportunity

In a Financial Times op-ed, “Investors in Xi’s China face a rude awakening” (August 30, 2021), George Soros writes that Xi’s “crackdown on private enterprise shows he does not understand the market economy. … Xi Jinping, China’s leader, has collided with economic reality. His crackdown on private enterprise has been a significant drag on the economy.”

Translated out of Orwellian Doublethink, the “crackdown on private enterprise” means cutting back on what the classical economists called rent-seeking and unearned income. As for its supposed “drag on the economy,” Mr. Soros means the economy’s polarization concentrating wealth and income in the hands of the richest One Percent.

Sep 06 05:46

SPACs Tank. Are NFTs Next?

Sep 06 05:42

Streets of Philadelphia, Kensington Ave Story, “Highlight” For the month of August,

Sep 06 05:42

August Jobs Report Disappoints With Only 235,000 Added In Worst Performance Of The Summer

Job growth sputtered in August with the overall number added falling sharply below expectations. In the Department of Labor’s data update, the U.S. economy’s newly added non-farm payroll jobs hit 235,000 versus the 720,000 forecasted by Dow Jones, according to CNBC.

The report showed job growth has averaged 586,000 positions monthly. The number of jobs added in July was 1.1 million and for June it was 962,000, illuminating just how poor the showing was for August.

Unemployment inched slightly downward from 5.4% to 5.2% as the U.S. is moving closer to pre-pandemic lows.

Why hiring slowed so dramatically in August remains an open question. The number of jobs estimated to be currently open is close to 10 million, yet employers are frequently complaining that they are unable to find people to fill these roles. In a recent survey, U.S. chief financial officers lamented that hiring has proven more difficult than before with 95% of CFOs surveyed sharing this view.

Sep 05 09:43

Preserving Capital through Bankruptcy

Sep 05 07:39

Fed suspends GDP nowcast data tracker

Sep 05 06:39

Stagflation, if We’re Lucky

Sep 04 07:04

World Economic Forum (WEF) Warns of Cyberattack Leading to Systemic Collapse of the Global Financial System

A report published last year by the WEF-Carnegie Cyber Policy Initiative calls for the merging of Wall Street banks, their regulators and intelligence agencies as necessary to confront an allegedly imminent cyber attack that will collapse the existing financial system.

In November 2020, the World Economic Forum (WEF) and Carnegie Endowment for International Peace co-produced a report that warned that the global financial system was increasingly vulnerable to cyber attacks. Advisors to the group that produced the report included representatives from the Federal Reserve, the Bank of England, the International Monetary Fund, Wall Street giants likes JP Morgan Chase and Silicon Valley behemoths like Amazon.

Sep 04 06:21

Anybody hedging heavily against a downtown?

Sep 04 06:20

Retail is getting a bit too bullish....

Sep 03 15:41

Reasons to Exit a Trade

Sep 03 12:15

90 School Bus Drivers from Same District Quit; “the rush of resignations was likely driven by the vaccination requirements”

By B.N. Frank

A growing number of Americans are opposed to employer vaccine mandates. Vaccine side effects, injuries and deaths have been reported for decades. They continue to be reported about the COVID jabs as well. Some employees are already quitting because of mandates, even bus drivers...

Sep 03 11:57

The Four Horseman of the Coming Crash, Pt 3

Sep 03 08:16

"Hit The Pause Button": Manchin Throws Democrats' $3.5 Trillion Plan Into Disarray

Moderate Democratic Senator Joe Manchin (WV) has called on fellow Democrats to "hit the pause button" on their $3.5 trillion economic blueprint, throwing the tax-and-spending plan into disarray

According to Bloomberg, Manchin said this week that "runaway inflation" and uncertainty over Afghanistan-fueled national security risks warrants a 'go-slow' approach and a possible rethinking of the plan.

Sep 03 07:54

Congressman from Goldman Sachs to Examine the Fed’s Emergency Lending Powers in a Crisis

Jim Himes, a Democrat from Connecticut, chairs the House Financial Services Committee’s Subcommittee on National Security, International Development and Monetary Policy. That Subcommittee has just announced a hearing slated for September 23 at 10:00 a.m. titled: “Lending in a Crisis: Reviewing the Federal Reserve’s Emergency Lending Powers During the Pandemic and Examining Proposals to Address Future Economic Crises.” The list of witnesses for this hearing has not yet been announced.

There’s good reason for every American to be nervous about the real agenda of this hearing.

For starters, Jim Himes is a 12-year veteran of Goldman Sachs. Second, he lives in Greenwich, Connecticut – the tony enclave of hedge fund billionaires. In addition, six of his top 10 donors over his career in Congress are the mega banks on Wall Street. (See chart below.)

Sep 03 07:48

Taliban to ‘actively support’ belt and road plan of ‘trustworthy friend’ China

Afghanistan will continue to participate in China’s Belt and Road Initiative, the Taliban have said, expressing hopes to rely on Beijing’s investment and support to rebuild the war-ravaged country while promising to protect Chinese interests there.

The pledge from Abdul Salam Hanafi, deputy director of the Taliban’s office in Doha, Qatar, came as China aimed to consolidate relations with the Afghan regime led by the Islamic militant group, despite many uncertainties.

In a phone conversation with Chinese assistant foreign minister Wu Jianghao on Thursday, Hanafi said the Islamic group would “take effective measures” to protect Chinese institutions and personnel in Afghanistan.

Sep 03 07:08

Central Banks Can’t Taper In This Slowdown

Sep 03 06:45

Major deal on developing Russia’s Big Northern Sea Route sealed at Eastern Economic Forum

A broad agreement aimed at providing stable growth of exports, cabotage and transit traffic along Russia’s Arctic sea route has been signed at the Eastern Economic Forum (EEF) in Vladivostok on Friday.

Russian state nuclear corporation Rosatom and the Ministry for Development of the Far East and the Arctic agreed to closely cooperate on projects aimed at developing the transport artery stretching along Russia’s Arctic coast.

“The Big Northern Sea Route from Murmansk to Vladivostok plays an important role in transport security, and connects by sea the European part of Russia with the Far East,” Rosatom’s director general, Aleksey Likhachev, told the media on the sidelines of the EEF.

Sep 03 06:40


Sep 03 05:53

Four Unreported Signs Paper Money is Dying

Sep 03 05:06


An Air Force veteran who owns three upstate New York properties has been forced to live in her car because her tenants have refused to pay rent thanks to the eviction moratorium.

Brandie LaCasse told CBS News that she has been living at friends’ homes and out of her car with her young daughter. She said she is owed more than $23,000 in unpaid rent but cannot force her tenants to pay or leave because of federal and state moratoriums on evictions.

“I’ve cried many nights, like thinking, ‘Where’s my money?'” the single mom said. “I don’t understand how they can give my private property to somebody to live for free. I bought that property. I fixed it up with my blood, sweat and tears.”

She added, “I invested in these properties, never thinking I wouldn’t have a place to live. I just want my house. That’s it. I just want my house.”

Federal funds earmarked to help alleviate such situations during the pandemic have not been allocated, according to the US Treasury Department.

Sep 03 05:01

Taliban Says China Will Be Afghanistan’s ‘Most Important Partner’

Taliban spokesman Zabihullah Mujahid said in an interview published on Thursday that China will be Afghanistan’s “most important partner” as the new Taliban-led government is seeking infrastructure investments.

“China is our most important partner and represents a fundamental and extraordinary opportunity for us, because it is ready to invest and rebuild our country,” Mujahid told the Italian newspaper La Repubblica.

Mujahid said there are “rich copper mines in the country, which, thanks to the Chinese, can be put back into operation and modernized. In addition, China is our pass to markets all over the world.”

Afghanistan faces a potential economic crisis, and the new government is strapped for cash. After 20 years of waging war in the country, the US is now withholding billions in Afghan reserves to use as leverage over the Taliban.

Sep 02 18:45

While Covid Ravages the Elderly, So Do Our Courts — An Update

By Janet Phelan

Amy Sallas survived an apparent stroke. She survived Covid and survived being forcibly taken from her home by the Cook County Public Guardian and survived the heartbreak of being forcibly isolated from her husband of over 50 years. She has survived the ravaging of her assets, reportedly in the realm of $8 million dollars–by the Cook County Guardian, as well. In addition, she survived a questionable surgery ordered by the Cook County Guardian which rendered the formerly ambulatory woman into a wheelchair.

But will she survive Judge Shauna Boliker?...

Sep 02 18:41

University Study Validates “importance of revamping the U.S. food system towards a focus on organic practices”

By B.N. Frank

Concerns about pesticides aren’t going away and rightfully so. Earlier this year, the Beyond Pesticides organization updated their research database and also introduced their new Pesticide Topic Submission Portal. More recently, the organization published highlights of a study that substantiates the economic, environmental, and health benefits of transitioning away from “chemical-intensive” farming...

Sep 02 17:22

The Four Horsemen of the Coming Crash, Pt 2

Sep 02 11:48

Social Security Will Not Be Able To Pay Promised Benefits By 2034

Social Security faces a fiscal cliff in 2034... The only possible "solution" is to pretend.

Sep 02 11:04

Agriculture Supply Chain Completely Breaks Down

Sep 02 07:42

The Rules of Surviving a Black Market Economy

Sep 02 06:10

Magical Thinking About Green Energy

Sep 02 05:30


Rarely do I get a submission - in this case from S.D., to whom a big thank you for spotting and sharing this one - that is so significant. In fact, this one is so hugely significant that I'm releasing this blog immediately, rather than waiting until Friday like I originally intended. It's what in the heyday of newspapers would have been published as a "flash" or an "extra".

Sep 02 05:24

Taliban greenlight construction of trans-Afghan gas pipeline

The Taliban have confirmed their willingness to build the TAPI (Turkmenistan-Afghanistan-Pakistan-India) gas pipeline which would export Turkmen gas for the development of Central Asia.

This project had been developed by Argentinian oil magnate Carlos Bulgheroni (Bridas) with the Turkmen government in the 1990s. It was to be financed by the Asian Development Bank (ADB). But it entered into competition with a project sponsored by California-based UNOCAL. After an agreement between the two companies was reached, negotiations between the United States and the Taliban took place in Berlin in violation of the travel ban issued by the UN Security Council against the Taliban. It was the failure of these talks in the summer of 2001 that sparked the US war against Afghanistan (and not the attacks of September 11, 2001).

Sep 02 05:13

The Elites' Battle For The Future America

America's elites are fracturing along multiple tectonic fissures: while the conventional media focuses on the ginned-up bread and circuses of Red and Blue political games (i.e., The Purple Empire), the real conflicts are within the camps running the Red and Blue games, the Imperial Project of global hegemony (a.k.a. The Deep State), the New Nobility of Big Tech attempting to overthrow the Old Nobility, the Nationalists versus the Globalists and the Financial Gamesters versus The New Foundation.

These are my informal acronyms, of course, but the conflicts are real and intensifying as extreme policies reach new extremes and the risks of breakdown increase.

Sep 02 05:11

Chase Bank Unveils New “Reputation Risk” Campaign, Targeting Loyal Customers For Their Political Beliefs

Over the weekend a stunning image made the rounds online. The photo showed a letter from Chase Bank to Lori Flynn, the wife of Gen. Michael Flynn, informing her that her credit cards were being canceled due to the “risk to their reputational risk” she created for the company.

Some on the left initially suggested the letter might be a hoax, before concluding that Chase’s decision was legitimate and something to celebrate.

Webmaster's Commentary: 

Chase has reversed course on Michael Flynn, reactivating them and apologizing.

I guess Chase was worried about risk to their reputation! :)

But that does not mean Chase will not do the same to us "lesser" mortals.

Sep 02 05:02

Quietly, JPMorgan Chase Has Been Battling Another Felony Charge – This Time for Tax Fraud in France. Its Defense Is Its “Human Rights” Have Been Violated.

JPMorgan Chase is the bank that gambled with the bank deposits of moms and pops across America in 2012 by trading exotic derivatives in London and losing $6.2 billion in the process. It’s also the bank that admitted to two felony counts in 2014 for its role in facilitating Bernie Madoff ripping off the life savings of thousands of more moms and pops across America. Its rap sheet of ripping off the little guy reads like that of an entrenched crime family.

But when the bank was indicted in France on April 16, 2015 for being complicit in tax fraud, it had the temerity to appeal the charges on the basis that its “human rights” had been violated, along with various codes of criminal procedure. Its argument boiled down to this: it hadn’t been advised that it had the right to remain silent during an interrogation.

Webmaster's Commentary: 

Sep 01 21:22

The Hindenburg omen flashed red today