Celebrate Entrepreneurs, Don’t Guillotine Them
by Raymond C. Niles
The American Institute for Economic Research
Imagine a benefactor, almost a Santa Claus, who provides millions of dollars worth of goods each day to millions of customers. The goods are more bountiful, cheaper, and easier to purchase from his store than any single retail establishment of the past, even the vaunted shopping malls and department stores, like Macy’s, which once called itself the “largest store in the world.”
This store is so big that it sells nearly anything you can imagine from every part of the world. You do not even need to leave your couch to make the purchase, which takes you just a few seconds on your computer. And it is delivered to your door at a price that is cheaper than nearly everywhere else.
If someone could do all this for you, would you call him a benefactor or a malefactor worthy of a hideous death?
Of course, I am referring to Jeff Bezos and his company, Amazon.
Charities “Have Lost Billions” and 1 Out of Every 5 Churches in America “May Not Survive”
by Michael Snyder
The Economic Collapse Blog
Whenever a major economic downturn happens, churches and charities always get hit really hard. Cutting back on giving is often the very first step that people take when it comes time to reduce expenditures, and that is extremely unfortunate. But of course you can’t get blood out of a rock, and there are tens of millions of Americans that have lost jobs in 2020 and so they don’t have any extra money to give at this point. Approximately 59 million Americans have filed new claims for unemployment over the past 24 weeks, and we are seeing absolutely massive lines at food banks all around the nation. In such an environment, it was inevitable that there would be a collapse in charitable giving, and it is being reported that major U.S. charities have already “lost billions in revenue”…
Women Plan All-Black Community in Georgia After ‘400 Years of Racial Oppression’
by Penny Starr
Breitbart.com
Two women hope to create an all-black community in central Georgia as a way to deal with “400 years of racial oppression.”
Microsoft News used a “good news” tag for the report, which said that as the United States “continues to confront the toxic legacy of slavery and Jim Crow,” the women want to create “a tight-knit community for our people to just come and breathe”:
They are calling it Freedom, Georgia, and draw their inspiration from Wakanda, the fictional comic-book country that was the setting for the movie “Black Panther.”
Ashley Scott, a realtor from Stonecrest, Georgia, who was driven to seek therapy by her reaction to the shooting death of Ahmaud Arbery, a young Black man jogging in a white neighborhood, said that after several sessions she realized that her problem was 400 years of racial oppression and trauma dating back to the establishment of slavery in North America.
How Government Literally Drives People Insane
by Joe Jarvis
The Daily Bell
The most effective way to change the world is to raise your children properly. Everything could change in one generation if there were a radical shift in parenting.
Unfortunately, some indicators suggest things are getting worse. For instance, there has been an increase in kids hospitalized for attempted suicide or suicidal indicators.
The most concerning thing about this is that these incidents tend to be concentrated at certain times of the year. One of the most likely times for a child or young adult to need hospitalization because of suicidal tendencies or attempts is in the fall when school starts.
There are a few likely reasons for this.
JPMorgan’s Comex Silver Stash: Another New Record High
Yesterday in Gold, Silver, Platinum and Palladium
by Ed Steer
Silver Seek
The gold price rallied to its high of the day at the 10:15 a.m. morning gold fix in Shanghai on their Friday — and then didn’t all that much until 1 p.m. BST in London/8 a.m. in New York. It was sold lower from there, with the low tick coming shortly after 9 a.m. in New York — and although it rallied a bit from there, it then continued lower until noon EDT. A rather spirited rally commenced at that juncture, but that was capped and turned quietly lower starting around 2:45 p.m. in after-hours trading — and it didn’t do much of anything after that.
The high and low ticks in gold were reported by the CME Group as $1,956.60 and $1,921.60 in the December contract…$1,948.80 and $1,914.60 in October. At the close on Friday, the October/December price spread differential in gold was $8.10 …December/February was $7.40 — and February/April was $5.10.
Trump Promotes Decoupling from China with No Clue as to How it Can Work
by Mike ‘Mish’ Shedlock
The Street
Trump proposes to stop trading with China. What would happen?
Decouple From China?
Please consider Trump Again Raises Idea of Decoupling Economy from China.
“So when you mention the word decouple, it’s an interesting word,” Trump told a Labor Day news conference at the White House in which he vowed to bring jobs back to America from China.
“We lose billions of dollars and if we didn’t do business with them we wouldn’t lose billions of dollars. It’s called decoupling, so you’ll start thinking about it,” Trump said.
“If Biden wins, China wins, because China will own this country,” he said.
How Capitalists Improve Human Productivity
by Fabrizio Ferrari
Mises.org
To quote the last paragraph of this 2008 article by Robert Murphy, when asked why Austrian school economics should be studied, the best answer is: “the Austrian theory of capital is the best one you can find if you really want to grasp how the economy actually works—beyond sterile mathematics and static timeless analysis.”
The Austrian school’s understanding of capital and production relies upon three main pillars. First: the factors of production comprise both nature-given factors—namely land and labor—and non-nature-given (i.e., produced by giving up production aimed at immediate consumption) ones—namely capital goods. Second: production in a capitalistic economy requires time and features several stages. Third: the ultimate source of wants satisfaction—and hence of subjective value—is consumption, which is the sole ultimate end of production; hence, the farther in time from consumption the output of production is, the less it’s valued—in other words, people have time preferences.
Another Coronavirus Aid Package is Probably ‘Not Happening’ After August Jobs Report and Deal to Avoid Government Shutdown, Analyst Says
‘It is prudent for investors to position their portfolios with the assumption that no more federal stimulus will be delivered from Congress until after the November 3 election, at the earliest’
by Victor Reklaitis
Market Watch
Friday’s jobs report makes it more likely that Washington won’t deliver another big coronavirus aid package before the November election, according to some analysts.
The better-than-expected report showed the U.S. economy regained 1.4 million jobs in August as unemployment fell to 8.4% from 10.2%.
“For those who, after having voted to explode the budget deficit, have suddenly remembered that they don’t like government welfare payments, this report could strengthen their resolve to deny another package gets passed, since the need is not nearly as great as it had been,” said Joel Naroff, president and chief economist at Naroff Economics, in a note.
The report on nonfarm payrolls “also undercuts the arguments of those who support additional massive government stimulus, that the economy is a disaster,” Naroff added. “It is, when looked at on an absolute basis, but relatively speaking, it is not as big a disaster as it had been.”
‘A Serious Situation’: Chief Justice John Roberts Will Decide 2020 Election, Dick Morris Predicts
by Jon Brown
Daily Wire
Former Clinton campaign adviser Dick Morris predicted during a Sunday interview that the 2020 presidential election is going to drag out because of mail-in voting and end up being decided by Supreme Court Chief Justice John Roberts.
As Breitbart reported, Morris told “The Cats Roundtable” host John Catsimatidis that while he believes it will appear that Trump wins in a landslide on Election Night, Democratic officials in swing states will manage in subsequent days to discover millions of mail-in ballots in favor of Democratic nominee Joe Biden.
Another Big Month for the Silver Price?
by Steve St. Angelo
SRSRocco Report
Precious metals investors are wondering if the Silver Rally will continue in September. After the silver price reached nearly $30 in August, it has been consolidating lower over the past few weeks. However, silver tried to surpass the $29 level but fell last week along with the broader markets. So, the trend for silver in September may rely upon the broader markets.
I discussed this in my newest YouTube video update, Another Big Month For The Silver Price? In the video, I explain some of the forces that will impact the silver price in September.
Joe Biden Condemns Antifa, ‘Violence No Matter Who it is’
by Mary Margaret Olohan
DailyCaller.com
Former vice president Joe Biden condemned Antifa in a Monday interview, saying he condemns “violence no matter who it is.”
Biden discussed the far-left movement perpetuating violence through riots across the United States in an interview with WGAL News 8’s Barbara Barr, saying that he has not stayed silent on the issue.
“I’ve condemned it across the board,” he said. “The president still hasn’t condemned the far-right folks coming out and protesting and using violence.”
“Do you condemn Antifa,” Barr asked him.
“Yes I do,” he responded. “Violence no matter who it is.”
Biden, Trump Clash Over Coronavirus Vaccine
Trump accuses Dems of ‘reckless anti-vaccine rhetoric’
by Paul Steinhauser
FOX News
Democratic presidential nominee Joe Biden says he’d follow the advice of scientists about whether he’d get a coronavirus vaccine if one became available before November’s presidential election, as President Trump tore into the Democratic ticket over vice presidential nominee Kamala Harris’s recent comments on the issue.
“I would want to see what the scientists said,” the former vice president told reporters Monday of a vaccine after speaking with supporters during a stop in Lancaster, Pa.
Biden also emphasized he’d welcome an effective vaccine regardless of the consequences to his campaign.
“If I could get a vaccine tomorrow I’d do it,” he stressed. “If it cost me the election I’d do it. We need a vaccine and we need it now.”
How Mr. Market Could Fool Us All, Big-Time
by Rick Ackerman
RickAckerman.com
AAPL topped last week within a hair of an important rally target at 135.98, prompting this headline atop last Thursday’s commentary: “Is This the Start of the Big One?” If so, it is long overdue. Valuations are worse, even, than at the height of dot-com mania, led by vertical spikes not only in AAPL, but in the shares of Tesla, Amazon, Chipotle, Google, Facebook and a few other world-beaters. Portfolio managers have thrown a mountain of Other People’s Money at a relative handful of stocks that are deemed likely to flourish in these economically challenging times. The geniuses keep dumping more and more money into the same few stocks because they evidently are clueless about what to do next. This has caused the value of some big companies still doing brisk business during the pandemic to soar into the hundreds of billions of dollars, or even into the trillions. Crazy.
Throughout the mania, we’ve focused more on AAPL than on any other stock simply because it is the one stock that no portfolio manager can be without. Under the circumstances, if a forecaster gets AAPL right, he invariably gets the stock market right. Rick’s Picks has succeeded well at this, remaining foolishly bullish against all common sense and wisdom. But last week’s sharp selloff, coming at a time when most investors were already getting antsy about valuations, has many wondering whether it will mark the end of the party or just a healthy correction.
‘The Gov Killed Nana’: Aerial Banner Slamming Andrew Cuomo Flies Over New York Beaches
by Penka Arsova
LaCorte News
An aerial banner that flew over several New York beaches on Saturday slammed the state’s Gov. Andrew Cuomo (D), seemingly over his handling of the coronavirus pandemic.
The banner, which read: “THE GOV KILLED NANA,” was being carried by a small propeller airplane and spotted by beachgoers in New York City and Long Island.
[…] The message appeared to be a reference to Cuomo’s controversial nursing home coronavirus policy, which he introduced in March and later retracted. The policy said adult care facilities had to accept everyone that needed care, including patients suspected of having contracted the virus and even people who had tested positive to the coronavirus.
Critics believe that this led to a spoke in coronavirus cases and deaths in nursing homes, given that the older population is considered to be more susceptible to the infection and are more likely to suffer severely from the disease.
This Labor Day, Police and Teachers Unions Are Making a Bad Year Worse
Americans are being forced to confront the downsides of powerful organized labor in an already miserable year.
by J.D. Tuccille
Reason.com
Labor Day is a celebration of the labor movement and its representation of the interests of workers in American society. Unions have historically been a force for good as workers fought for better conditions. But 2020 has brought us a reality check about just how toxic organized labor—in the form of police and teachers unions—can be. These organizations aren’t solely responsible for the ongoing disaster that is this year, but they’ve done their best to make it worse.
On September 4, the Sergeants Benevolent Association, which represents sergeants in the New York City Police Department, tweeted: “He we go America this is what a first class whore looks like RITCHIE TORRES. Passes laws to defund police, supports criminals, & now because he’s running for office he blames the police to protect what he voted for. Remember Little Ritchie? Meet LYING RITCHIE @RitchieTorres”
The Latest Updates from Martin Armstrong – 2020.09.07
by Martin Armstrong
Armstrong Economics
Ruthless Tyranny by Police in Melbourne
COVID Tax Increases – Forcing People to Pay For the Political Plandemic
Belarusian President Claims IMF & World Bank Offered him a Bribe to Impose COVID Restrictions
CDC Said there Have Been More Suicides Than Death by COVID-19
California & the 2020 Election