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Escape From New York (and Blue Cities), While There’s Still Time

by Kerry Lutz
Financial Survival Network

Election day is coming, and with it more civil unrest seems extremely likely. The New York Police Department is preparing for it. A close friend who’s a NY City Seargant has been told she’ll be working 12 hour shifts and must be on call 24/7. The New York Post has been reporting on a major exodus from the City in anticipation of the event (see here). It’s clear that NY’s governor (#KillerCuomo) and the City’s mayor (#ComradediBlasio) will do little, if anything to stop the impending riots. Heck, they’ve welcome the riots with open arms and couldn’t be more thrilled. Comrades daughter was even arrested while attacking the police. Where was the National Guard and NYC’s mounted police when they were needed most?

Click Here to Listen to the Audio

One Table and Two Charts Show Why Stocks Are a Bad Place to Be

by John Rubino
Dollar Collapse

US stocks are behaving amazingly well given the political and economic near-chaos of the past few months. This is probably the first recession that inflated rather than popped financial asset bubbles.

Why? Because panicked governments and central banks are dumping trillions of play-money dollars into the system, a big part of which flow directly into the brokerage accounts of the 1%.

The result is a stock market that looks very familiar to financial historians. But not in a good way. Here’s a table from money manager Lawrence Lepard comparing today’s S&P 500 to its predecessor at the peak of the 1990s tech stock bubble.

Continue Reading at DollarCollapse.com…

Senate Demands Hunter Biden Turn Over Bank Records Wire Transfers Account Balances and Travel Records

from Zero Hedge

Senate investigators have demanded that Hunter Biden turn over a mountain of evidence following bombshell emails and text messages which appear to show he and his business partners engaging in an international influence-peddling scheme while his father was Vice President of the United States, according to CBS News’ Catherine Herridge – who brought receipts as usual.

NEW: Senate Investigators seek Hunter Biden records, according to October 21 letter, addressed to team of lawyers. Deadline October 23. “According to recent reports that published emails allegedly from your client’s laptop, the Committees have identified your client as an pic.twitter.com/ChIhs14Ogq

— Catherine Herridge (@CBS_Herridge) October 22, 2020

“According to recent reports that published emails allegedly from your client’s laptop, the Committees have identified your client as an individual involved in one or more of these business arrangements or financial transactions,” reads a Wednesday letter from Sens. Ron Johnson and Chuck Grassley.

Continue Reading at ZeroHedge.com…

New CDC Numbers Show Lockdown’s Deadly Toll on Young People

by Damjan Tutarkov
LaCorte News

The Centers for Disease Control and Prevention (CDC) released a new report Wednesday on the COVID-19 mortality rate in the U.S. that shows the scope of the negative impact COVID-19 lockdown measures have had on the younger population.

“From January 26, 2020, through October 3, 2020, an estimated 299,028 more persons than expected have died in the United States,” the report states.

From January 26 through October 3, the CDC report states, the “average percentage change in deaths” was largest among young adults aged 25-44 and signified an increase (26.5%) compared to previous years.

“Although more excess deaths have occurred among older age groups, relative to past years, adults aged 25–44 years have experienced the largest average percentage increase in the number of deaths from all causes from late January through October 3, 2020,” according to the report.

Continue Reading at LaCorteNews.com…

Trump and Biden Are Right: Both Parties Are to Blame for America’s Inhumane, Broken Immigration System

Trump’s immigration record is uniquely appalling but he didn’t do it all by himself. Before you start building cages, you should ask how your political opponents might use them.

by Eric Boehm
Reason.com

One administration built the cages. Another administration filled them. Who is actually to blame?

That question occupied President Donald Trump and former vice president Joe Biden for a good portion of the time allotted to a discussion of immigration during Thursday’s debate, the last of the 2020 campaign season. Trump blamed the Obama administration for “building cages to keep children in” and (technically correctly) argued that he had been falsely maligned for inventing inhumane immigration enforcement practices that he inherited from his predecessor. Biden, meanwhile, blamed Trump for ramping up the cruelty by separating families who crossed the border without authorization—a policy that has somewhat predictably resulted in the federal immigration bureaucracy losing track of the families of more than 500 migrant children.

Here’s the thing: They’re both right.

Continue Reading at Reason.com…

The Destruction of the Euro

by Alasdair MacLeod
Gold Money

The Eurozone is bust. The deterioration of TARGET2 imbalances have been hardly noticed, but in recent months it has been alarming. Despite official denials over the years that it is a matter of concern, it is increasingly obvious that the national banks of Italy, Spain and other nations with increasing bad debts are hiding them within the TARGET2 system. The first wave of Covid-19, which is leading to bankruptcies throughout the Eurozone, is now being followed by a second wave, which will almost certainly take out a number of important banks, in which case the cross-border euro system will implode.

Introduction

If ever there was a political construct the unstated objective of which is to enslave its population, it is the European Union. Its opportunity stems from national governments which, with the exception of Germany and a few other northern states, had driven or were on the way to driving their failed states into the ground.

Continue Reading at GoldMoney.com…

Biden Repeats Version of Politifact’s ‘Lie of the Year’: If You Like Your Plan, You Can Keep Your Plan

by Tim Pearce
Daily Wire

Democratic presidential nominee Joe Biden claimed falsely on Thursday night that not one American lost their private health insurance from the Affordable Care Act (ACA), known as Obamacare.

Biden repeated what the left-leaning fact-checker PolitiFact rated its 2013 “Lie of the Year” on a stage in Nashville during the second and final presidential debate of the 2020 campaign. Biden was responding to a question on his own health care plan, which includes much of the same structure as Obamacare, when he launched into an erroneous defense of the ACA.

“The idea that I want to eliminate private insurance, the reason why I had such a fight with 20 candidates for the nomination was I support private insurance,” Biden said. “That’s why I didn’t, not one single person with private insurance would lose their insurance under my plan, nor did they under Obamacare. They did not lose their insurance unless they chose they wanted to go to something else.”

Continue Reading at DailyWire.com…

Sorting Through the Data Chaos in Unemployment Claims: Week 31 of U.S. Labor Market Collapse

by Wolf Richter
Wolf Street

California Emerged from its “Reset.”

California’s Employment Development Department – whacked by reports of chaos and massive backlogs in processing and paying unemployment claims, and by waves of fraudulent claims, particularly under the federal Pandemic Unemployment Assistance (PUA) for the self-employed – announced on September 19 that it had “paused” processing claims for a “reset” period during which it would fix the issues and catch up with its backlog.

This pause halted California’s reporting of unemployment claims to the Department of Labor; and in the following weeks, the DOL then just copied and pasted California’s last reported data into its weekly unemployment claims report. California accounts for about a quarter of US unemployment claims.

Continue Reading at WolfStreet.com…

Taking Back Control – One Small Step at a Time

by Simon Black
The Daily Bell

Via Sovereign Man

At the height of World War II, when American soldiers were on the front lines in Europe and the Pacific battling for the very survival of civilization, life back home was starting to feel pretty bleak.

The psychological toll alone was severe.

Countless families had a husband, father, brother, or son fighting in the war, so people worried about their loved ones’ safety on a daily basis.

And just about everyone stressed about the outcome of the war and prayed that the Nazis didn’t overwhelm Allied forces.

Continue Reading at TheDailyBell.com…

Silver’s Coming Double Trigger Shotgun Price Explosion

by David Smith
Silver Seek

Even in the competitive hunting/shooting community, few enthusiasts know about an arcane rifle known as a “double trigger shotgun.” Essentially, it’s a double-barrel shotgun having a trigger for each barrel.

This was an early day’s design with the triggers located inside the trigger guard, back to front. It was possible to press both triggers at once, causing a double discharge, though for the most part this was not a good idea – since it caused twice the recoil, and was hard on both the shotgun and the shooter – especially if not anticipated.

Though this essay is not about shotguns, but rather silver, the above concept provides a perfect analogy for what I believe is in store – a double discharge for both silver demand and price in the reasonably near future!

Continue Reading at SilverSeek.com…

Two Inflationary Tail Risks for U.S. Investors

by Mike ‘Mish’ Shedlock
The Street

Lacy Hunt at Hoisington Management has two potential sources of inflation on his mind.

Third Quarter Outlook

Please consider the Hoisington Quarterly Review and Outlook for the third quarter of 2020.

Lacy Hunt starts off with conditions central banks must meet to stimulate the economy.

Four Conditions

1. The Fed must be able to control the monetary base by increasing its liabilities

Continue Reading at TheStreet.com…

The Privilege of Politics

by Jeff Deist
Mises.org

Actor Chris Pratt finds himself a target of left Hollywood and various social media enforcers for his apparent lack of support for Joe Biden, a sin in his industry. Pratt has endorsed neither Biden nor Trump, which seems eminently sensible for a boy-next-door type who plays superheroes and adventurers in big blockbusters. But staying quiet is never enough for the political jackals, who insist silence is violence and a form of privilege. Trump is a Nazi; his electorate is full of hateful fascist enablers and this is no time for quietude. To make matters worse, the reticent Pratt also belongs to a Christian church which is “anti-LGBT”—which is to say not anti-LGBT at all, but simply not in full conformity with the language and demands of its accusers.

When his actor friend and sometime costar Mark Ruffalo rushed to defend Pratt’s character, the Twitterati reacted angrily but predictably:

Continue Reading at Mises.org…

‘It’s Daunting to Think About What the Consequences Will Be.’ with No Stimulus Deal, Much of America’s Temporary Financial Safety Net Will Expire Dec. 31

The help that Americans have been getting with rent, unemployment benefits, student loans, paid leave and more is scheduled to end soon

by Andrew Keshner, Jacob Passy, Jillian Berman, Elisabeth Buchwald, and Leslie Albrecht
Market Watch

The prospect of another stimulus package before Election Day is uncertain, even as the White House and Democratic leaders kept talking Wednesday.

What is certain for now, however, is that many Americans who are struggling financially will soon see their temporary financial safety net end unless lawmakers intervene.

A wide range of financial assistance programs designed to help people stay in their homes, stay current on their student loans, keep their lights on and meet other financial obligations during the pandemic-induced economic downturn are scheduled to end on or before Dec. 31.

“It is daunting to think about what the consequences will be for families, individuals, businesses, our economy when the COVID-19 protections and financial assistance are no longer available,” said Jack Gillis, executive director of the Consumer Federation of America, a research, service and advocacy organization promoting consumer interests.

Continue Reading at MarketWatch.com…

Wisdom From a Master

by Llewellyn H. Rockwell, Jr.
LewRockwell.com

America today confronts an unprecedented crisis. Our economy is collapsing, and the fake coronavirus ”epidemic,” with its Draconian restrictions, is destroying our liberty. What can we do? We’re fortunate that Dr. Ron Paul, our greatest living American, has provided a masterful diagnosis and offers us hope for a cure—if only we will listen.

The End of Unearned Opulence sums up and extends Ron’s message that he has given us in his many years of devoted service. In the book, he speaks of the “Faustian bargain” that Nixon imposed on the American people when he abandoned convertibility of the dollar into gold in 1971. He offered us fifty years of fake prosperity, but inevitably, the bill from the devil came due. In telling us about this, Ron talks about the great German writer Johann Wolfgang Goethe and how he modified the Faust legend. As I read this, I thought about Goethe’s finishing his great play Faust in the wisdom of his old age. Ron has in like fashion offered us in this book his mature wisdom.

Continue Reading at LewRockwell.com…