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The Mighty Fall of the Consumer is Leading a Much Bigger Collapse

from King World News

The mighty fall of the consumer is leading a much bigger collapse.

The Rise And Fall Of The Consumer

June 30 (King World News) – Crescat Capital: After experiencing the largest government-financed consumption boost in history, household demand for goods and services is poised to fall off a cliff. The US economy simply cannot handle the Fed’s continued monetary tightening. This is the onset of a vicious stagflationary environment. The unprecedented combination of excessive debt, the bursting of speculative asset bubbles, and the persistence of inflation due to structural supply imbalances makes the current economic and market environment truly precarious. A major contraction in consumer demand is imminent. These factors will soon pressure the Fed into a policy dilemma.

Continue Reading at KingWorldNews.com…

Trillion Energy Ready to Drill its SASB Gas Field with CEO Arthur Halleran

from Kerry Lutz's Financial Survival Network

Trillion Energy’s CEO Arthur Halleran (Ticker Symbols: OTC: TRLEF — CSE:TCF – Frankfurt Z62) joined us for a much-anticipated sponsor update. The company is fresh from a C$22.5 million massively oversubscribed offering and how has the cash to start spudding wells. Halleran recently visited Turkey to accelerate the project and expects the first wells to be spudded later this summer.

A lot has happened in the past 18 months. Turkish natural gas prices have more than tripled to $21 mcf and the expectation is that they will go higher still in the months ahead. There’s no end in sight to the Ukraine war and Russia has drastically curtailed European gas sales. A cold winter could lead to dramatically higher prices and Trillion is poised to profit from it. The plan is to eventually have at least 17 producing wells. While the SASB field was a prodigious producer in the past, new technology and drilling methods should lead to record production for many years ahead. Best of all capex will be low as existing infrastructure replacement according to Halleran is over C$500 million.

The company’s Bulgarian project was on the backburner till recently due to the global pandemic. It has worked to Trillion’s advantage. The company now has optionality, it can use SASB cash flow to finance production, or it can bring on a production partner. The profit potential is clear with gas now trading at $22 per mcf and Russian induced shortages are prevalent. We’re still extremely bullish about Trillion and continue to hold shares.

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You Need to Get Out of Debt with Paul Oster

from Kerry Lutz's Financial Survival Network

Credit repair expert Paul Oster comes on FSN to talk about the importance of paying off your debt—especially in our current economy. Since stimulus checks are no longer being issued, it’s time to re-acclimate and formulate a plan for debt free living. As rates go up, it will take people more money and a longer period of time to pay off debt. Once you create a plan to get out of debt, you’ll wish you had started sooner. Tune in for more insight from Paul, and visit his website for credit repair resources and coaching.

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Why the Housing Bubble Bust is Baked In

by Charles Hugh Smith
Of Two Minds

Putting this all together, it’s clear that the source of the current housing bubble is the explosion of financial speculation fueled by central bank policies.

Those benefiting from speculative bubbles have powerful incentives to deny the bubble can bust. Rationalizations abound as bubbles inflate, and the continued ascent of speculative bets seems to “prove” the rationalizations are correct.

But bubbles arise from speculative excesses, and once these reach extremes and reverse, bubbles burst and all the self-serving rationalizations are revealed as rationalizations.

Let’s start with some caveats I’ve already covered in Is Housing a Bubble That’s About to Crash? (May 2, 2022):

1. Housing is local, so there may be locales where prices are still rising due to unquenchable demand and low supply and other places where demand is low and supply ample where prices plummet.

Continue Reading at OfTwoMinds.com…

The Revenge of the Malthusians and the Science of Limits

What are the roots of the technocratic and transhumanist policies currently being pushed onto society? In this essay, Matthew Ehret traces two centuries of British imperial grand strategists who adapted Thomas Malthus’ system of scientific governance of useless eaters in opposition to the deeper creative impulses of the human species.

by Matthew Ehret
Unlimited Hangout

Today’s world is faced with two possible future systems. On the one hand, there is a multipolar approach in defense of sovereign nation states premised on long-term thinking, scientific optimism and win-win cooperation stands as one possible outcome; on the other, there is a unipolar paradigm of world government, depopulation and zero-sum thinking.

Gaining insight into these two opposing paradigms is more important now than ever before, and one important place to start is the genesis of the ideologies that motivate the “Great Reset Architects” who are pushing society into a “Fourth Industrial Revolution” – a “revolution” where it is believed that automation, and Artificial Intelligence will render most of humanity obsolete. We are told that this post-reset age will also see a merging of humanity with machines, a future scenario heralded by figures like Elon Musk and Google’s Ray Kurzweil in order to “stay relevant” in the next phase of our evolution. Davos-man Yuval Harari has echoed these sentiments, arguing that the levers of evolution will now be moved from the randomness of nature into the new gods running Google, Facebook and the WEF.

Continue Reading at UnlimitedHangout.com…

White House is Quietly Modeling for $200 Oil “Shock”

from Zero Hedge

While the Biden administration is hoping and praying that someone – anyone – will watch the comical “Jan 6” kangaroo hearsay court taking place in Congress and meant to somehow block Trump from running for president in 2024 while also making hundreds of millions of Americans forget that the current administration could very well be the worst in US history, it is quietly preparing for the worst.

As none other than pro-Biden propaganda spinmaster CNN reports, when it comes to what really matters (at least according to Gallup), namely the economy, and specifically galloping gasoline prices, the White House is in a historic shambles.

Continue Reading at ZeroHedge.com…

JPMorgan Chase and Citibank Hold 90 Percent of All Gold and Other Precious Metals Derivatives Held by All U.S. Banks

by Pam Martens and Russ Martens
Wall Street on Parade

Last Tuesday, the Office of the Comptroller of the Currency (OCC) released its quarterly report on derivatives held at the megabanks on Wall Street. As we browsed through the standard graphs that are included in the quarterly report, one graph jumped out at us. It showed a measured growth in precious metals derivatives at insured U.S. commercial banks and savings associations over the past two decades and then an explosion in growth between the last quarter of 2021 and the end of the first quarter of this year.

In just one quarter, precious metals derivatives had soared from $79.28 billion to $491.87 billion. That’s a 520 percent increase in a span of three months. (See Figure 18 at this link. The last ten years of the graph is shown above.)

Having studied these quarterly reports since the 2008 financial crash, we knew where to head next. We went to the graphs in the OCC report showing the breakdown of different categories of derivatives at specific banks.

Continue Reading at WallStreetOnParade.com…

Another Pump-and-Dump Meme Stock Ends in Dumpster of Reality: Bed Bath & Beyond Goes Back to Heck

by Wolf Richter
Wolf Street

Hit by the brick-and-mortar meltdown years ago, it attracted short sellers, which attracted meme stock traders, which blew up the short sellers, and then each other.

Bed Bath & Beyond has become another imploded meme stock. Meme stocks are a phenomenon that will go down in history as one of the grandest, most dazzling, most media-savvy pump-and-dump schemes that peaked in January and early February of 2021 – yes that infamous February 2021, when the stock market came unglued beneath the surface.

Today, Bed Bath & Beyond [BBBY] reported earnings and fired its CEO that had coddled up to the meme stock crowd. And its shares, after having already plunged in recent months, plunged by another 24% to $4.99 at the close.

Continue Reading at WolfStreet.com…

Forever Prisoners

by Andrew P. Napolitano

“I hold it that a little rebellion now and then is a good thing, and as necessary in the political world as storms in the physical.” – Thomas Jefferson, Jan. 30, 1787

When Thomas Jefferson wrote to his friend, neighbor and colleague, James Madison, his view that the basis of government must be to preserve liberty rather than order, the War of Revolution against Great Britain had been won, the Articles of Confederation were in place and Madison was beginning to prepare for his pivotal role in the drafting of the Constitution.

Jefferson was in Paris, as the U.S. ambassador, and he wrote to express to Madison his view that whatever amendments to the Articles of Confederation he was planning to draft, they should embrace the value of personal liberty as the default position. Madison and others were sent to Philadelphia to craft amendments to the Articles. But Madison had no amendments in mind.

Continue Reading at LewRockwell.com…

If We Keep Escalating This Conflict, the End Result Will Be a Nuclear Cataclysm

by Michael Snyder
End of the American Dream

There will be nuclear war if we stay on this path. Almost every day, we get more news about how both sides are escalating the conflict in Ukraine. If the American people truly understood what was at stake, there would be giant protests in the streets of every major U.S. city right now. But they don’t. Most of us are entirely convinced that our leaders can do whatever they want in Ukraine without sparking a nuclear war. But the Russians see things very differently. On Russian television there are endless discussions about how the war in Ukraine is really a proxy war between the United States and Russia, and pundits openly discuss the possibility that eventually nuclear weapons will be used. In fact, the destruction of specific U.S. cities has even been discussed on Russian television, but most Americans never hear anything about this.

In a nuclear conflict, the side that uses their weapons first has the best chance of surviving, and the Russians understand this very well.

Continue Reading at EndOfTheAmericanDream.com…

Arizona to Become the Nation’s ‘Gold Standard for School Choice,’ Passing Universal Bill for One Million Students

by Brandon Drey
Daily Wire

Arizona lawmakers passed a groundbreaking bill last week allowing the State’s 1.1 million students — from kindergarten to high school graduation — access to a school of their choice.

Under the new bill, HB2853, every family in the Grand Canyon state would be eligible for the State’s 2011 Empowerment Scholarship Account (ESA) program — initially designed for disabled, military, or failing students. The program grants families $6,500 in tuition annually per child for private or home schools or learning pods — which have grown increasingly popular nationwide over the last few years due to COVID shutdowns, mandates, and woke ideology.

Continue Reading at DailyWire.com…

Top Biden Officials Reveal Plans to Continue Pushing Climate Agenda if Supreme Court Blocks EPA

by Jack McEvoy

Leading Biden officials outlined their methods to keep pushing the administration’s climate agenda if the Supreme Court limits the powers of the Environmental Protection Agency (EPA) on Wednesday.

The Supreme Court is likely to weaken the Biden administration’s efforts to limit carbon dioxide emissions in West Virginia v. EPA, with several of the justices having probed the extent of EPA’s authority in oral arguments. President Joe Biden’s senior officials remain confident in their ability to advance the administration’s aggressive environmental agenda by using the Clean Air Act and other government powers.

During a panel at the Aspen Ideas Festival, EPA Administrator Michael Regan promised to deploy a “suite of tools” including the Clean Air Act to regulate the power sector, regardless of the Supreme Court’s coming ruling.

Continue Reading at DailyCaller.com…

Randy Barnett: Abortion, Guns, and the Future of the Supreme Court

The leading libertarian legal theorist talks about worrying trends at the Supreme Court as a conservative majority takes hold.

by Nick Gillespie

As the most momentous Supreme Court term in recent memory comes to a close, are things better or worse for libertarians?

Georgetown Law’s Randy Barnett is arguably the most important and influential libertarian legal scholar walking the planet today. Over the years, he’s argued against Obamacare and for medical marijuana in front of the Supreme Court. In books like Restoring the Lost Constitution and The Structure of Liberty, he’s developed the concept of what he calls “judicial engagement,” or the idea that judges need to be more forceful in striking down laws that restrict rights guaranteed by the Constitution. At the same time, he’s a powerful critic of liberal judicial activism where judges effectively create law out of ideological preference and he pushes back against conservative majoritarianism, which holds that legislatures can basically do whatever they want.

Click Here to Listen to the Audio

Continue Reading at Reason.com…

False Values Proliferate in Higher Ed

by Jack Wisdom
American Thinker

Riding the New York City subway this afternoon, this deplorable saw a sign advertising the new City University of New York (CUNY) ASAP program. ASAP stands for Accelerated Study in Associate Programs. This program provides additional support and funding for students in two-year community college programs and is supplemented by another program for four-year students. These are giveaway programs to incentivize more students to go to college and stay in college and to participate in the leeching mindset that has attacked our culture.

These programs are an extension of the premise that students are kept from their true goals because of economic stresses. Money is thus the main obstacle to progress towards a degree, either towards an AA degree (Associate’s two-year degree) or a B.A. degree.

Continue Reading at AmericanThinker.com…

“Pronouns Matter”: Bank’s Attempt to Virtue Signal Backfires

Halifax’s Twitter stunt doesn’t go as planned.

by Paul Joseph Watson
Summit News

A subsidiary of a £886 billion net worth bank attempted to virtue signal by proclaiming “pronouns matter” alongside an image of an employee wearing a “she/her/hers” tag, but the stunt massively backfired on Twitter.

“Pronouns matter. #ItsAPeopleThing,” tweeted Halifax Bank, which is owned by Lloyds Banking Group, one of the UK’s largest financial services organizations.

[…] The topic immediately began trending on Twitter, with the vast majority of responses not displaying much sympathy towards the bank.

“What if a Halifax employee doesn’t want to put pronouns on their lapel, perhaps because they reject the cult of gender ideology?” asked Simon Edge. “Will they be disadvantaged in any way? Barred from promotion? Fired?”

Continue Reading at Summit.News…