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Italians Revolt as Migrants Overwhelm Island

by Dan Lyman
InfoWars Europe

Residents of Lampedusa are protesting against migrants arriving on their overwhelmed island after the Italian government facilitated the entry of 870 more in a single weekend, according to reports.

A total of approximately 870 illegal migrants who departed from North Africa were brought ashore on Friday and Saturday under the supervision of Italian authorities and armed forces.

Nearly 370 were intercepted aboard a fishing boat about four miles from land and then “disembarked in small groups to adhere to the mitigating measures related to the pandemic,” Television Malta reports.

Between Friday and Saturday, another 500 migrants arrived in more than 30 vessels of varying sizes, according to AFP.

Continue Reading at Europe.InfoWars.com…

Stocks and Precious Metals Charts – And the Love of Most Will Grow Cold

from Jesse’s Café Américain

[…] Stocks popped, and then flopped a bit into the close.

The markets narrowed again today, with a few of the new era story stocks leading the way, as evidence in the outperformance of the NDX.

Silver got some legs. Gold was held to unchanged.

The dollar continued lower.

The VIX rose.

Tech stocks are in a significant bubble that is continuing to expand.

It will break, badly.

Continue Reading at JessesCrossroadsCafe.Blogspot.com…

Trump Promotes the Outlandish Claim That Covid-19 Has Killed a ‘Minuscule’ Number of Americans

The assertion, which contradicts the president’s own warnings about the virus, is based on a misinterpretation of CDC data.

[Ed. Note: Well, the CDC just admitted that it’s only killed 9,210 people, with covid alone. That’s roughly 0.00279% of the American population. Seems pretty minuscule to me… Unless math works differently on your planet. Of the 94% of deaths that list a comorbidity, the average number of comorbidities listed is… 2.6!!! Among these people, the average age of death is higher than THE average age of death.]

by Jacob Sullum
Reason.com

Last spring the White House warned that COVID-19 could kill between 1.5 million and 2.2 million Americans with “no intervention.” But “with intervention,” it said, the death toll would be somewhere between 100,000 and 240,000. “By very vigorously following these [social distancing] guidelines,” President Donald Trump declared, “we could save more than 1 million American lives. Think of that: 1 million American lives.”

Forget all that, Trump implied today by retweeting a message claiming that the official COVID-19 death toll, currently about 187,000, is off by a factor of 20. “So get this straight,” says the summary of an August 29 Gateway Pundit post that was originally tweeted by Trump attorney Jenna Ellis. “Based on the recommendation of doctors [Anthony] Fauci and [Deborah] Birx the US shut down the entire economy based on 9,000 American deaths [due] to the China coronavirus.” Trump thus implicitly rebuked his own COVID-19 advisers (and himself) for grossly overstating the danger posed by the disease.

Continue Reading at Reason.com…

Warren Buffett Admits He Doesn’t Understand This Economy

by John Rubino
Dollar Collapse

Iconic investor Warren Buffett’s superpower is the ability to understand how companies work and tell which will generate the most and most consistent cash flow. This has (along with, yes, some recent gaming of the system) allowed him to make his investors rich beyond most of their wildest dreams.

But the world we’re heading into is very different from the one where Buffett made his money. His world was a place of expanding credit floating most boats. The coming world is one where the excesses of the past produce chaos for everyone except gold bugs.

Here’s a video from June in which “the Oracle of Omaha” sounds like a befuddled old man with no idea what to do next:

Continue Reading at DollarCollapse.com…

Investors Have Stampeded Out of Stock Funds for Two Weeks – So How Did the Stock Market Set a New High Every Day Last Week?

by Pam Martens and Russ Martens
Wall Street on Parade

The S&P 500 stock index set a new record high on Friday, closing at 3508.01 – the first time it has ever closed above 3500. In fact, the S&P 500 set a record high close every single day last week. Here’s the actual closing numbers:

Monday, August 24: 3,431.28

Tuesday, August 25: 3,443.62

Wednesday, August 26: 3,478.73

Thursday, August 27: 3,484.55

Friday, August 28: 3,508.01

Refinitiv Lipper has been reporting fund flows into and out of the stock market for the past 18 years. According to Refinitiv Lipper, for the week ending Wednesday, August 26, stock (a/k/a equity) mutual funds and stock ETFs had a combined negative outflow of -$7.8 billion. For the week ending Wednesday, August 19, stock mutual funds and stock ETFs had a negative outflow of -$6.6 billion.

Continue Reading at WallStreetOnParade.com…

‘Peaceful Protestors’ Proving to Be Trump’s Best Recruiting Tool

by Monica Showalter
American Thinker

Hurling smoke bombs and fireworks, “peaceful” protesters did their level best to disturb restaurant diners on sidewalks; issue threats to homeowners with slogans such as “fire, fire, gentrifier”; and make enough noise to keep residential areas awake with the chuk-chuk-chuk of police helicopters above. They even chanted military jodies, with leftist replacement words to Army-like cadence chants, perhaps to demonstrate that they, too, are an army of sorts. The featured speaker was a self-described illegal alien. Here’s the scene in Washington, D.C.:

Oakland, among other places, was also on the leftist menu:

Continue Reading at AmericanThinker.com…

Bill of Particulars

by James Howard Kunstler
Kunstler.com

The few times this Covid-19 year of seclusion that friends have come over for dinner, they’re horrified to hear me say that I will do whatever I can to prevent the Democrats from winning the election. I was never a big thumper for Donald Trump, and didn’t vote for him in 2016 (or Hillary), but I will this time.

I’m in favor of his policy stands for defending the US border and stopping the flow of illegal migrants, on ending our foolish misadventures in foreign lands, on reducing the government’s stranglehold on private enterprise, and on opposing the matrix of rackets that make up the “DC swamp.” I admire Mr. Trump’s resilience in the face of a relentless assault by “the Intel Community,” the DC cabal of Lawfare seditionists, and the despicable confabulations of The New York Times and other media voices-of-authority captive to the Left.

Continue Reading at Kunstler.com…

Louisiana Food Banks Overwhelmed as Recession and Hurricane Spikes Demand

from Zero Hedge

Food banks were already under stress before Hurricane Laura devastated parts of southern Louisiana last week. Many of these charities, were providing meal assistance to hungry families affected by the virus-induced downturn in the economy. Now they must provide meals for people who have lost their homes because of the natural disaster.

“It’s literally one crisis on top of another,” Jay Vise, the director of communications and marketing of Second Harvest Food Bank, told 4WWL New Orleans, who referred to the increasing demand seen at his food bank.

Continue Reading at ZeroHedge.com…

Trump’s “American Greatness” Also Political Paternalism

by Richard M. Ebeling
The American Institute for Economic Research

Mind your own business. Every one of us has thought or said words to this effect when others have told us how to live our lives. Who our friends should be, what career we should pursue, where we should live, the person we should marry, how we should spend our money, or even what clothes we should wear or how to furnish or decorate the place we live. Even when others have the best of intentions, after all, whose life is it?

Yet, especially in presidential election years, we hang on the words of candidates who all have “plans” to tell us precisely what should be the answers to most of these matters, and many more, in our everyday lives. Not only do we often hang on every word they say, but we actually end up voting for people who are determined to use their election to political office precisely to attempt to run our lives.

Continue Reading at AIER.org…

Twitter Removes Trump Retweet About CDC Coronavirus Death Stats

by Penka Arsova
LaCorte News

Twitter on Sunday removed a post that President Trump retweeted, which misinterpreted coronavirus death statistics from the Central for Disease and Control.

The tweet came from user “Mel Q” and argued that the coronavirus is not as deadly as officials have reported. It said the CDC “quietly updated” the coronavirus death numbers to “admit that 6%” of people listed as coronavirus deaths “actually died from Covid,” and “the other 94% had 2-3 other serious illnesses.”

The tweet appeared to be copied from a Facebook post and included a link to it.

The numbers were pulled from the “Provisional Death Counts for Coronavirus Disease 2019 (COVID-19)” page on the CDC website.

Continue Reading at LaCorteNews.com…

Much Worse is Coming

by Michael Snyder
The Economic Collapse Blog

It has been heartbreaking to watch what has been transpiring on the streets of America in recent months. Our founders intended for us to be united by a common set of values, but now our differences are literally tearing our nation to pieces. Americans are fighting other Americans in the streets, and that should make all of us incredibly sad. Does anyone out there actually believe that all of this violence will be resolved by the upcoming election? If anything, rising political tensions are likely to make the violence even worse, and if the result of the presidential election is contested by either side that could easily take things to an even higher level. We have entered such a dangerous chapter in American history, and I am extremely concerned about the months ahead.

In Portland, there have been nightly protests for more than three months straight. We have never seen anything like this before, and I really wish that the violence would have been put to an end long ago.

Continue Reading at TheEconomicCollapseBlog.com…

Why We Need Landlords

by Bradley Thomas
Mises.org

A tweet by the widely followed “Existential Comics” account recently made the rounds.

It might be easy to dismiss, but with more than 345,000 followers, the account apparently appeals to a lot of like-minded people. The tweet caught my eye in large part because of how many people liked what amounts to a very economically ignorant and naïve “pop quiz.”

[…] The point of the sarcasm, of course, was to demonize any greedy people who believe in private ownership of housing. How coldhearted you must be to support landlord ownership of housing! Don’t you know greedy landlords will just rent to the richest and leave the poor homeless? That’s what the profit motive does!

The only acceptable answer for any decent person, of course, would be for the housing to be “distributed” in a more equitable manner. Apparently, we are not supposed to think about the great inequality between the rulers granted the power to distribute such important resources like housing and those reliant on the whims of the rulers for their housing.

Continue Reading at Mises.org…

No Man’s Land

by David Brady
Sprott Money

We are still in no man’s land right now with regard to the precious metals and miners. Powell disappointed the markets Thursday with little detail on the timing and tools to be used in relation to the Fed’s not-so-new policy of allowing inflation and employment to run hot over the coming years. In other words, he provided nothing we didn’t know already and was presumably priced into the markets. Yet, instead of being a ‘buy the rumor, sell the fact’ event, the Fed’s announcement overcame the initial plunge in markets, and stocks and precious metals rebounded higher. The key question is whether these latest rallies have just begun or are more short-term in nature until the Fed provides more concrete details on their plans.

Continue Reading at SprottMoney.com…

‘Has the Science Changed That Dramatically in One Week?’: Chris Wallace Pushes Back on Biden Campaign

by Virginia Kruta
DailyCaller.com

“Fox News Sunday” host Chris Wallace pushed back Sunday on former Vice President Joe Biden’s sudden pivot to in-person campaigning.

Wallace spoke with Biden’s deputy campaign manager Kate Bedingfield, who said that the campaign was simply “following the science” with regard to a return to a more traditional campaign trail.

[…] Wallace began by quoting Biden, who said just last week that, if necessary, he could win the 2020 presidential campaign against incumbent Republican President Donald Trump from his basement.

“But on Thursday, the president talked — the vice president rather, he’s going to be out on the campaign trail, going to go to at least four swing states. Has the science changed that dramatically in one week?” Wallace asked.

Continue Reading at DailyCaller.com…