When Your Survival Guy looks at any ranking for countries (not county or states), guess which one is marching up the list if not already at the top? You guessed it, Ireland. Now, Your Survival Guy’s never been to Ireland, but I’m sure I’d like the golf and the pubs, the weather not so much, but, I’m absolutely sure I’d love the Freedom. Watching Tucker Carlson last night to relax (it has been a struggle figuring out how to deal with the vax and masks in school), Ireland is standing up to the political virus called COVID and saying “No, our children will not be forced to wear masks in … [Read more...]
Worries Over Delta Variant Hit IEA Oil Demand Forecast
The International Energy Agency is lowering its forecast of oil demand citing the possibility countries will implement new lockdowns in response to the spread of the COVID-19's Delta variant. Neil Hume reports in the Financial Times: The International Energy Agency has “sharply” lowered its oil demand forecasts for the rest of the year after several major energy-consuming countries imposed fresh curbs to stop the spread of the Delta coronavirus variant. In its monthly market report, the Paris-based organisation said growth would be 500,000 barrels per day lower in the second half of 2021 … [Read more...]
BIDENOMICS: Relentless Inflation Destroys Americans’ Savings
You wonder what you can do when Joe Biden and the Fed are actively seeking to destroy the value of your savings by pushing up inflation. Wait, you didn't think this inflation was an accident, did you? The Fed has been talking about how it wants to push inflation higher for months, even years. And Joe Biden's answer to the worker shortage is "pay more," which of course means, charge more as well. The reports are in, and their plan is working. Your savings are being crushed. Gwynn Guilford reports on the inflation hitting America in The Wall Street Journal, writing: Inflation remained … [Read more...]
HACK HEIST! Crypto Owners Hit With One of the Biggest Thefts EVER!
Owners of cryptocurrency have been frequent targets of cyber theft. Some of the most infamous cases of crypto-looting were Coincheck in 2018 and Mt. Gox in 2014. Now, a new heist can be added to the list. Hackers have stolen over $600 million in crypto from the Poly Network. Anna Hirtenstein reports for The Wall Street Journal: Hackers stole cryptocurrencies worth more than $600 million from Poly Network, a decentralized finance, or DeFi, platform, in one of the largest crypto heists of recent years. Poly Network, which uses digital assets for lending and other financial transactions, … [Read more...]
Democrats Trying to Cut Taxes for the Wealthy?
Democrats are working hard to cut taxes for the wealthy. Yes, you read that correctly. While Democrats are normally found calling for raising taxes on the wealthy, that isn't the case for many when the wealthy taxpayers affected are also major campaign donors. The cap on the State and Local Taxes paid (the SALT cap) set in place by the 2017 Tax Reform hit wealthy people in high tax states the hardest. Wealthy residents from places like California, New York, and New Jersey saw significant tax increases. Those high tax states happen to be home to many of the Democratic Party's biggest … [Read more...]
NO BIG DEAL? Infrastructure Bill Could Be a Dud
With a life spread out over ten years, and a $550 price tag that pales in comparison to the spending spree politicians have been on for the last two years, the infrastructure bill passed by the Senate may not be that impactful. Paul Kiernan writes in The Wall Street Journal: WASHINGTON—The bipartisan infrastructure bill is unlikely to have a big impact on growth in the next few years, economists say. Longer term, though, investments in highways, ports and broadband could make the economy more efficient and productive. The short-term boost to growth will be relatively limited for two … [Read more...]
Guess Where Americans are Going to Get Away From COVID Lockdowns
Americans with businesses in big blue cities saw their lives torn apart during COVID lockdowns. They had to close up, forcing many of them into bankruptcy, and out of business forever. Now, Americans are leaving states and cities that tore apart their lives and moving to places where politicians respected their rights. Stessa has released a report on the top growing economies so far in 2021. Among the results were the 15 small, midsize, and large metro areas with the most economic growth. Some states kept coming up. In the small, medium, and large metros with the fastest growth, Florida … [Read more...]
Democrats Want Joe Biden to Forgive Student Loans. ALONE.
The Wall Street Journal reports that Democrats want Joe Biden to forgive students loans, but that they don't want to have to vote on it. The Journal's editorial board writes: Forbearance was supposed to expire at the end of September, but Education Secretary Miguel Cardona says a four-month extension is necessary to give borrowers “the time they need to plan for a restart.” Pardon? They have the next two months to plan. Most don’t need that. The unemployment rate among bachelor’s degree recipients was 3.1% in July. Borrowers haven’t had to show they’ve been hurt by the pandemic to receive … [Read more...]
A WIN FOR BLACKROCK: Biden Throws Small Landlords Under the Bus
In 2018, the IRS recorded over ten million returns that included income from rental properties. That's more than just the "top 1%." There are millions of middle-class Americans who have invested in rental properties to achieve goals like putting their kids through college or saving for retirement. The moratorium on evictions created to help families through COVID-19 has put a lot of pressure on these landlords who must maintain properties, even if their tenants aren't paying rent. Here's the story of one landlord, Buddy Shoup from Spectrum News 1: When Buddy Shoup was 6 years old, he … [Read more...]
PROJECT HAMILTON: The Fed’s Little-Known Plan for Digitizing the Dollar
The Fed, along with researchers at MIT, is attempting to understand what it would take to create a US-backed digital currency. Gillian Tett reports in the Financial Times: Last year the Boston Fed asked researchers at MIT to embark on a project to build and test “with boldness [and] ingenuity” the computing systems needed to support a US-backed digital currency. That is scheduled to deliver two policy papers next month: one covering the CBDC coding challenges; the second on economic and design choices, such as what putative digital dollars might mean for commercial banks. To … [Read more...]
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