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February 17, 2024 | Too Many Payments, Too Little Income

In the fourth quarter of 2023, 7.7% of US auto loans transitioned to delinquency on an annualized basis (New York Fed data)—the highest rate in 13 years. The total annual cost of owning a new car, including expenses such as gas and insurance, climbed to $12,182 in 2023, up from $10,728 in 2022 (latest estimates […]

February 17, 2024 | People We Should Know: Mike Benz

Sorry to deluge you with new people to check out, but this video just dropped, and I’m going to go out on a limb and call it the single most important thing currently available online. The source is Mike Benz, a former State Department diplomat “responsible for formulating and negotiating US foreign policy on international communications […]

February 17, 2024 | Mainstream Money Tiptoes Into Gold Miners

The appeal of mining stocks is that they’re “leveraged bets on the underlying commodity.” So you’d think that with gold not far from an all-time high, the big gold miners like Newmont and Barrick would be crushing it. But the opposite has been true lately, as these stocks have become almost ridiculously unloved.   Two possible conclusions can be […]

February 17, 2024 | The Fallout from The Extreme Left’s Judge Engoron Destroying NY City

  Justice Arthur F. Engoron represents the vile, disgusting degree of the completely out-of-control judicial system in New York City. It has been people like him throughout history that spark revolutions. I have warned that New York is the most unconstitutional judicial system on the face of the earth, and it really should be shut […]

February 17, 2024 | Trading Desk Notes For February 17, 2024

Leading US stock indices lose upside momentum The DJIA, S&P and the NAZ made new All-Time Highs this week but closed lower on the weekly charts. NDVA continued to rally this week, up 53% YTD, up 224% in the last 12 months, and now has the 3rd largest market cap (after MSFT and AAPL) of all US […]

February 17, 2024 | High Home Insurance Rates Driving Away Would-Be Buyers

A wave of new multifamily residential projects are coming online as migration slows and high mortgage rates weigh on housing demand. Add to the mix an insurance crisis, and a seller’s market is becoming a buyer’s one. See, In Southwest Florida, high home insurance rates are driving away would-be buyers: Florida’s southwestern coast — long one […]

February 17, 2024 | Tech Talk for Saturday 17th 2024

The Bottom Line Changes by key world equity indices were significant last week: U.S. equity indices moved lower following release of higher than consensus January CPI and PPI reports. Equity indices and related ETFs for India, Japan, China and Europe rose significantly. China iShares completed a double bottom pattern. EAFE iShares touched an all-time high. […]

February 16, 2024 | $50 Minimum Wage?

Lawmakers should be required by law to pass a financial literacy test before taking office. California has repeatedly raised the minimum wage as the cost of living continues to rise. They have not lowered the amount of taxes that the state will collect from these workers. California has the highest debt of any state in […]

February 16, 2024 | People We Should Know: Elon and RFK Jr

These two need no introduction. Just kidding. You’ve heard their names, but if you’re mostly consuming legacy media, you only know them as caricatures. So here’s a video where one interviews the other. Two quick spoilers: They trash both the pharmaceutical companies and the military/industrial complex in the first 15 minutes. And their understanding of […]

February 16, 2024 | Commercial Real Estate Slump in U.S. Could Trigger a Crisis

Commercial real estate is a major asset class for businesses, institutional investors, and banks. For decades, most lenders were eager to accept commercial real estate as collateral for loans. Also pension plans and insurance companies regarded properties like office towers as safe, long-term investments. But doubts are appearing over the quality of those holdings with […]

February 16, 2024 | Bad Loans Mount in ‘Greatest Real Estate Crisis Since The Financial Crisis’

The credit cycle is alive and well. But credit cycles typically move with multi-quarter time lags, and that’s longer than the attention span of most. Moreover, massive government subsidies slowed the monetary impacts more than average this time. Nevertheless, twenty-three months since this epic tightening cycle began, wheels are coming off all around for those […]

February 15, 2024 | New Tax Filing Requirements For Jointly Held Assets in Canada

New bare trust reporting requirements for the 2023 tax year include accounts where adults have been added to the bank and investment accounts of another relative. For Bare Trusts ending December 31, 2023, you have to file a T3 tax return, says Ali Spinner, tax partner at Crowe Soberman LLP. Here is a direct video link. 

February 15, 2024 | Soros Now Controls the Radio

  George Soros has acquired a 40% stake in Audacy, America’s second-largest radio network that broadcasts over 220 stations across the country. The man who openly meddles in global politics on behalf of the global elite pounced on the opportunity to purchase a large portion of the agency when it fell into bankruptcy, shelling out […]

February 15, 2024 | Defusing the Derivatives Time Bomb: Some Proposed Solutions

This is a sequel to a Jan. 15 article titled “Casino Capitalism and the Derivatives Market: Time for Another ‘Lehman Moment’?”, discussing the threat of a 2024 “black swan” event that could pop the derivatives bubble. That bubble is now over ten times the GDP of the world and is so interconnected and fragile that […]

February 15, 2024 | Crude Oil War Premium Expands US$3.50/B Over The Last Week as Houthis Continue Attacks in Red Sea

GLOBAL ECONOMIC, POLITICAL & MILITARY UPDATE The surprisingly hot US CPI data yesterday drove the Dow down over 520 points to 38,273 and at its worst was down over 700 points, before a late afternoon recovery. The US Treasury 10-Year yield rose to 4.31%, up 44 BP in just over a week, which spooked investors […]

February 14, 2024 | Recession Watch: Inflation Won’t Die Until The Economy Kills It

A previously obscure inflation metric called Core Services CPI shocked the world this week by rising at an annual rate of 8%. This pretty much rules out a Fed rate cut in the near term. Responding to the prospect of “higher for longer,” the 10-year Treasury yield spiked back up to 4.3%, guaranteeing 7%+ mortgages and 10%+ […]

February 14, 2024 | What It Means To Restore Home Affordability in Canada

To restore Canadian home affordability to historically sustainable levels, prices need to halve, incomes double or some combination of both. All options are painful in the short to medium term for asset prices, the leveraged and Canada’s real estate-concentrated economy. Charles St. Arnaud, Chief Economist at Alberta Central and former economist at the Bank of […]

February 14, 2024 | The Most Splendid Housing Bubbles in Canada: National Price Drops Further in January -18.3% from Peak. End of Easy Money

House prices in Canada overall fell 1.2% seasonally adjusted in January from December. Not seasonally adjusted, they fell 0.4%, having now fallen by 18.3% from the peak in March 2022, according to the Home Price Benchmark Index for single family houses by the Canadian Real Estate Association (CREA) today. In dollar terms, the national index […]

February 13, 2024 | Biden’s Unsettling X Post – Senate Passes $95 Billion Foreign Aid Bill

Just like we drew it up. pic.twitter.com/9NBvc5nVZE — Joe Biden (@JoeBiden) February 12, 2024 Joe Biden is failing epically on social media. Biden’s campaign attempted to join TikTok, despite his own administration banning the app from government devices. The comments on his video show exactly why the government wants to ban TikTok as they are […]

February 13, 2024 | Sam Cooper Details Mortgage Fraud and Canadian Banks

So-called “liar loans” helped fuel the US property bubble and bust, leading to the 2008 recession. Unfortunately, Canada has followed suit since. Sam Cooper BREAKS NEWS on Mortgage Fraud and Canadian Banks. Here is a direct video link. Read more at “Fake Chinese income” mortgages fuel Toronto Real Estate Bubble: HSBC Bank Leaks.

February 12, 2024 | Putin on Sanctions & the BRICS Boogeyman

        I do not advise governments to use sanctions for leverage due to the economic implications that may take time to materialize. In April 2020, I wrote, “Once you impose sanctions, you create a cold war. Look at Russia. Nixon opened China to divide and conquer. Are we really that stupid to […]

February 12, 2024 | China Exporting Deflation To The World

Since China entered the World Trade Organization in December 2001, US producer prices (black line below since 2000) have tracked up and down with China’s Consumer Price Index (CPI in green). Awash in excess capacity today, China is exporting deflationary pressures to the rest of the world.   In several key manufacturing sectors, goods are […]

February 11, 2024 | WEF Proposes Ban on Gardening

The globalist overlords are attempting to block every option we have to remain independent from government tyranny. The World Economic Forum (WEF) has proposed a full ban on homegrown food, citing their favorite excuse – climate change. That’s right, the WEF believes that home gardening is destroying the planet. “The impact on the environment is […]

February 11, 2024 | Even Bulls Are Getting Nervous

However high stocks climb, there will always be an earnest, bespectacled egghead on Wall Street ready to tell us why shares are likely to keep on rising. Here’s Yung-Yu Ma, chief Investment officer for a firm called BMO Wealth Management and a finance professor at Lehigh University: “A better economy, healthy profits and lower inflation,” […]

February 11, 2024 | Good News For A Change, Part 1: Independent Media Is Replacing the MSM

Sports Illustrated recently shut down. The Los Angeles Times laid off a fourth of its staff, including its entire Washington bureau. CNN’s viewership has fallen to that of a modest YouTube channel. From media tracker Deadline: In the 25-54 demo, Fox News averaged 219,000, down 8%, compared to CNN with 124,000, down 14%, and MSNBC with 106,000, off by 3%. In […]

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