by Michael Snyder
The Economic Collapse Blog
This week it was Kenosha, Wisconsin and next week it will probably be somewhere else. Yet another senseless police shooting was followed by more rioting, looting and violence. Of course rioting, looting and violence have basically become a nightly occurrence in America at this point anyway. The protests never seem to end in some cities, and crime rates are absolutely skyrocketing all over the country. Much of what is written about all of this chaos is focused on trying to pin the blame on someone, but even if we correctly identify who is to blame, will that actually stop the violence? I don’t believe that it would. In fact, I don’t think that anything is going to stop the violence any time soon.
I just feel so sad today. We are literally watching the meltdown of our society, and that process is going to continue no matter what happens in November. I have never seen so much anger in America, and the frightening thing is that the level of anger seems to just keep growing.
What do you call an economy of monopolies without competition or any regulatory restraints?
In early February, I noted to my readers that the S&P 500 just experienced “four straight days of ‘rip your face off’ rallies” – a move of at least 1% higher each day.
Mark and Patricia McCloskey, the St. Louis couple who defended their home from demonstrators who allegedly threatened them and came onto private property, slammed the Democratic Party during the Republican National Convention’s opening night, warning that the Democratic Party presents a threat to everyday Americans because of how extreme it’s becoming.
Republican Maryland 7th Congressional District candidate Kim Klacik addressed black Americans during the first day of the Republican National Convention, expressing her frustration with Democrats who’ve “neglected” cities like Baltimore.
White House Senior Counselor to the President Kellyanne Conway announced Sunday that she would step down from her position to focus her time on her family.
An obsessive focus on AAPL has paid off for us by taking the guesswork out of the stock market’s rally. As long as Apple shares are moving higher, so will the broad averages. And as long as we have price targets we are confident in, we can trade with an aggressively bullish bias no matter how strong our skepticism. There are good reasons to be skeptical, too, not least of which is that AAPL’s price has doubled since March with no corresponding expectation of an increase in earnings. The shares have benefited in particular from the fact that every fund manager who wants to keep his job is heavily weighted in the Cupertino firm because the stock has never let them down. It is the biggest crowd-pleaser of them all, adding $40 billion in ‘wealth’ to the financial system with each $1 gain. More than any other stock, it allows city, state and county pension funds to pretend they are healthy. And so it keeps going up because, well, because it has to. How long can bulls keep it up? Until it hits 537.23, at least, according to our technical runes. That’s exactly $33.44 above Monday’s closing price, and we’ll be bullish as all get-out until it gets there. After that? We’ll let the charts speak for themselves.
A new campaign ad that has been produced by the Log Cabin Republicans is stirring up a lot of controversy in Washington. In the nearly four minute ad, Richard Grenell shares a long list of reasons why he believes that Donald Trump is much more pro-gay than Joe Biden. For those not familiar with Grenell, he served as U.S. Ambassador to Germany from 2018 to 2020, and after that he was appointed as Acting Director of National Intelligence by Trump but he only served a short time in that role. Right now, he is helping the Republican National Committee reach out to LGBT voters, and that probably explains why he was featured in this video.
World Health Organization chief Tedros Adhanom Ghebreyesus warned Monday that “vaccine nationalism” poses a threat to the globalist effort to administer coronavirus vaccines to the entire world.
On the heels of a another all-time high in stocks, here is a look at global trade worries, the Fed will not stop, plus gold, silver, and the best performing commodity in 2020.
The Bill & Melinda Gates Foundation is funding fact-checkers and news organizations that often defend and cover the billionaire favorably, according to a detailed analysis by the Columbia Journalism Review.
They may just opt out of the whole insane charade and stop paying the mountains of debt and stop trying to prop up the deranging pretense of middle-class snobbery.
Leading Swedish health experts claim the country has a falling coronavirus infection rate because it was one of the few that didn’t go into lockdown and has rejected the need for masks.
Good news, parents: If you let your kids wait in the car for less than 10 minutes on a cool day—doors locked and fan on—a caseworker and sheriff are actually not allowed to come to your home, threaten to take your children away, and strip search the kids.