Friday 4.26.24 Shitshow Macro Weekly Wrapup Podcast is up:
-Shitshow Macro 5: Is the Fed Battling the EU Tyrants podcast is up for premium subscribers
Domestic:
Aids & staffers have begun to “screen” Biden as he walks to hide his frail walking and gait
Important visualization: If you spend $100 every second of every day, it would take you 1966 years to spend the $6.2 trillion that the USGOV has spent in the last 12 months
One of the Secret Service agents assigned to Kamala Harris apparently got into a fistfight with other members of her detail. As the story has developed, it’s beginning to leak out that there were DEI-related quality concerns about the agent in question due to other incidents before this one.
The story broke on Thursday that the WH has been trying to oust press secretary KJP, with some insiders saying “she’s not up-to-date on the issues and refuses to take the time to get up to speed.” Reports are saying that the WH is essentially unable to oust her because of her intersectionality, and she refuses to leave.
The DOJ arrested 2 NJ loan officers late this week for fraudulently listing $1.4 billion in homes as owner-occupied to get tax subsidies and GOV loans for AirBnBs.
FBI Counter Intel and snipers have been moving into the college protests and rooftops surrounding them as things heat up around the country. If you have kids in college, tell them to stay away from these protests -> FBI CI only moves in when they have solid intel of bad things coming…or a President to frame.
TikTok influencer Farha Khalidi gave an interview on a popular podcast this week stating that she was paid by the Biden admin to push propaganda but to not mention that she was paid for it.
Joe Biden accidentally let everyone know how unseriously he takes the January 6 “worst day in American history” by forgetting the actual date during a speech this week.
Do you remember the brutal fire in Lahaina, Maui? The survivors of that fire are homeless and living in tents, still 8 months later, as the US Congress sends taxpayer dollars overseas by the hundreds of billions. Hey…what happened to the money that Oprah and The Rock were supposed to be raising?
War/Military:
UKR hit multiple RUS oil refineries Thursday night, despite White House pressure not to. They already got the money, so it seems they have no more care for what Washington has to say. By the way - everyone knows that we’re still buying RUS oil, right? Hello, high summer gas prices!
The nation of Chad has now joined neighbor Niger in kicking US troops out of the country. 75 USSOF troops are leaving by the end of the month, as RUS forces and mercenaries move in.
Major activity in the Indo-Pacific region (China), with ⅓ of the US Navy fleet in the theatre. With the Taiwanese inauguration set to take place on May 20, it’s worrisome that the PLA military has drastically increased, with 120+ Chinese (PLA) Navy ships in the South China Sea & around Taiwan.
Remember, Erik Prince (and many others now) forecasted that China would move on Taiwan in April or May.
NATO member Lithuania has launched drone attacks on Belarus. Macron has sent a contingent of French troops into the Suwalki Gap (the narrow region that connects Kaliningrad to Belarus).
Markets/economics:
Financial site Smart Asset tells MarketWatch that a family of 4 must now spend $117,500 annually to cover their basic needs
In 79 of the largest 100 US metros the cost of the basic necessities for a family of 4 exceeds the median family income
US regulators (FDIC) seized the Philadelphia-based Republic First Bancorp after hours on Friday, announcing that the bank had failed. Saturday morning it broke that First Bank of Pennsylvania has also failed, citing its mortgage business as the culprit.
The Telegraph reported today that Trump aides have devised a plan that would allow Trump to oust the Fed chairman and set monetary policy (rates) from the White House
-Shitshow Macro 5: Is the Fed Battling the EU Tyrants podcast is up for premium subscribers
Domestic:
Aids & staffers have begun to “screen” Biden as he walks to hide his frail walking and gait
Important visualization: If you spend $100 every second of every day, it would take you 1966 years to spend the $6.2 trillion that the USGOV has spent in the last 12 months
One of the Secret Service agents assigned to Kamala Harris apparently got into a fistfight with other members of her detail. As the story has developed, it’s beginning to leak out that there were DEI-related quality concerns about the agent in question due to other incidents before this one.
The story broke on Thursday that the WH has been trying to oust press secretary KJP, with some insiders saying “she’s not up-to-date on the issues and refuses to take the time to get up to speed.” Reports are saying that the WH is essentially unable to oust her because of her intersectionality, and she refuses to leave.
The DOJ arrested 2 NJ loan officers late this week for fraudulently listing $1.4 billion in homes as owner-occupied to get tax subsidies and GOV loans for AirBnBs.
FBI Counter Intel and snipers have been moving into the college protests and rooftops surrounding them as things heat up around the country. If you have kids in college, tell them to stay away from these protests -> FBI CI only moves in when they have solid intel of bad things coming…or a President to frame.
TikTok influencer Farha Khalidi gave an interview on a popular podcast this week stating that she was paid by the Biden admin to push propaganda but to not mention that she was paid for it.
Joe Biden accidentally let everyone know how unseriously he takes the January 6 “worst day in American history” by forgetting the actual date during a speech this week.
Do you remember the brutal fire in Lahaina, Maui? The survivors of that fire are homeless and living in tents, still 8 months later, as the US Congress sends taxpayer dollars overseas by the hundreds of billions. Hey…what happened to the money that Oprah and The Rock were supposed to be raising?
War/Military:
UKR hit multiple RUS oil refineries Thursday night, despite White House pressure not to. They already got the money, so it seems they have no more care for what Washington has to say. By the way - everyone knows that we’re still buying RUS oil, right? Hello, high summer gas prices!
The nation of Chad has now joined neighbor Niger in kicking US troops out of the country. 75 USSOF troops are leaving by the end of the month, as RUS forces and mercenaries move in.
Major activity in the Indo-Pacific region (China), with ⅓ of the US Navy fleet in the theatre. With the Taiwanese inauguration set to take place on May 20, it’s worrisome that the PLA military has drastically increased, with 120+ Chinese (PLA) Navy ships in the South China Sea & around Taiwan.
Remember, Erik Prince (and many others now) forecasted that China would move on Taiwan in April or May.
NATO member Lithuania has launched drone attacks on Belarus. Macron has sent a contingent of French troops into the Suwalki Gap (the narrow region that connects Kaliningrad to Belarus).
Markets/economics:
Financial site Smart Asset tells MarketWatch that a family of 4 must now spend $117,500 annually to cover their basic needs
In 79 of the largest 100 US metros the cost of the basic necessities for a family of 4 exceeds the median family income
US regulators (FDIC) seized the Philadelphia-based Republic First Bancorp after hours on Friday, announcing that the bank had failed. Saturday morning it broke that First Bank of Pennsylvania has also failed, citing its mortgage business as the culprit.
The Telegraph reported today that Trump aides have devised a plan that would allow Trump to oust the Fed chairman and set monetary policy (rates) from the White House
Housing supply has surged up to and over 50% in multiple metros in Florida and others across the nation (FL has the highest number, with high insurance costs being touted as the culprit)
A 3-Sigma move occurred in the JPY as the Yen cratered at the end of this week. This puts Japan in quite a quandary due to its 250% debt-to-GDP ratio. If they raise rates, they likely can’t pay off inflation. If they leave rates unchanged, inflation may fly out of control. As the top holder of US debt, this puts us both into a bad situation.
MacroEdge job cuts tracker now has 105k US job cuts just for the month of April.
New home sales fell well below the average, marking 25 consecutive months now of below-average home sales.
The Business Dynamics Report revision came out today, and guess what -> once again, BLS fudged the numbers to put a positive spin on Biden. The originally touted 264k jobs created was actually 198k jobs lost.
The savings rate in the US has plunged from 3.6% to 3.2%, which is down from 5.6% a year ago.
Scott Galloway stunned MSNBC journos this week when he described in pretty great detail why the youth of today are so pissed off. I will include the clip in the show notes.
Ray Dalio (one of the best investors of all time) gave his own interview this week on the signs of a failing currency. It’s short & succinct, and I’ll also include this one in the show notes.
Tech stocks were pretty beaten down this week but rallied on Friday. While there are tons of “explanations” going around for AI or other things driving the rally, it happened with ½ of the normal daily volume - which is not a good thing.
Business:
Boeing ($BA) reports its biggest cash burn in 4 years. As it turns out, DEI is not a cost-effective measure for companies that need technical proficiency rather than “checking the box” metrics.
Speaking of which, more issues for Boeing planes as a 767 lost its emergency slide while in flight after departing JFK airport in NYC
META ($META) stock tumbled 10% Thursday despite beating earnings expectations and then traded flat on Friday. Some who were on the earnings call stated that Zuckerberg insisted on focusing entirely on AI, but had no comprehensive view or explanation for how it would be profitable for the company.
In more bad news for META, a Media Research Center report this week alleges that Facebook has interfered in elections at least 40 times since 2008.
Health:
Canada officials are now throwing Pfizer ($PFE) under the bus. Newly surfaced emails show the drug company chose not to inform regulators about the presence of the SV40 Simian DNA in their vax.
Researchers from Norway just released a report that finds up to 10,000 chemicals are leeching into foods kept in plastic containers. The group studied plastic food packaging products from Norway, Germany, South Korea, the UK, and the US.
Geopolitics:
Haiti installed a new transitional government this week, and as promised, the former PM resigned. Rebel warlord leader BBQ made some ominous comments eluding to threats against the new transitional team, and gunshots were heard as they were sworn in.
Crazy Conspiracy:
Guatemalan law enforcement raided the offices of the Save the Children Foundation, and prosecutors have been building a case against the non-profit for alleged child trafficking - even reaching out to TX AG Ken Paxton asking for his help.
The charity upheld 42 cases of staff mistreating children in 2021, including two related to sexual abuse and 7 for physical abuse. Notable donors to the non-profit include:
Ghislane Maxwell
Bill Gates
Oprah Winfrey
Hillary Clinton was honored by the group’s foundation in 2013
Disney Chairman/CEO Bob Iger received the Centennial Award from the group
Macro takeaways/lessons from the week:
I often say that one of the greatest curses is being able to see things building up long before they come to their zenith/kinetic action. Well, folks, we’re there - not only in the geopolitical Shitshow but in terms of economic turmoil. Things are getting worse, quickly.
A 3-Sigma move occurred in the JPY as the Yen cratered at the end of this week. This puts Japan in quite a quandary due to its 250% debt-to-GDP ratio. If they raise rates, they likely can’t pay off inflation. If they leave rates unchanged, inflation may fly out of control. As the top holder of US debt, this puts us both into a bad situation.
MacroEdge job cuts tracker now has 105k US job cuts just for the month of April.
New home sales fell well below the average, marking 25 consecutive months now of below-average home sales.
The Business Dynamics Report revision came out today, and guess what -> once again, BLS fudged the numbers to put a positive spin on Biden. The originally touted 264k jobs created was actually 198k jobs lost.
The savings rate in the US has plunged from 3.6% to 3.2%, which is down from 5.6% a year ago.
Scott Galloway stunned MSNBC journos this week when he described in pretty great detail why the youth of today are so pissed off. I will include the clip in the show notes.
Ray Dalio (one of the best investors of all time) gave his own interview this week on the signs of a failing currency. It’s short & succinct, and I’ll also include this one in the show notes.
Tech stocks were pretty beaten down this week but rallied on Friday. While there are tons of “explanations” going around for AI or other things driving the rally, it happened with ½ of the normal daily volume - which is not a good thing.
Business:
Boeing ($BA) reports its biggest cash burn in 4 years. As it turns out, DEI is not a cost-effective measure for companies that need technical proficiency rather than “checking the box” metrics.
Speaking of which, more issues for Boeing planes as a 767 lost its emergency slide while in flight after departing JFK airport in NYC
META ($META) stock tumbled 10% Thursday despite beating earnings expectations and then traded flat on Friday. Some who were on the earnings call stated that Zuckerberg insisted on focusing entirely on AI, but had no comprehensive view or explanation for how it would be profitable for the company.
In more bad news for META, a Media Research Center report this week alleges that Facebook has interfered in elections at least 40 times since 2008.
Health:
Canada officials are now throwing Pfizer ($PFE) under the bus. Newly surfaced emails show the drug company chose not to inform regulators about the presence of the SV40 Simian DNA in their vax.
Researchers from Norway just released a report that finds up to 10,000 chemicals are leeching into foods kept in plastic containers. The group studied plastic food packaging products from Norway, Germany, South Korea, the UK, and the US.
Geopolitics:
Haiti installed a new transitional government this week, and as promised, the former PM resigned. Rebel warlord leader BBQ made some ominous comments eluding to threats against the new transitional team, and gunshots were heard as they were sworn in.
Crazy Conspiracy:
Guatemalan law enforcement raided the offices of the Save the Children Foundation, and prosecutors have been building a case against the non-profit for alleged child trafficking - even reaching out to TX AG Ken Paxton asking for his help.
The charity upheld 42 cases of staff mistreating children in 2021, including two related to sexual abuse and 7 for physical abuse. Notable donors to the non-profit include:
Ghislane Maxwell
Bill Gates
Oprah Winfrey
Hillary Clinton was honored by the group’s foundation in 2013
Disney Chairman/CEO Bob Iger received the Centennial Award from the group
Macro takeaways/lessons from the week:
I often say that one of the greatest curses is being able to see things building up long before they come to their zenith/kinetic action. Well, folks, we’re there - not only in the geopolitical Shitshow but in terms of economic turmoil. Things are getting worse, quickly.
Professional, outside funding and agitators have been identified at the pro-Hamas college campuses, and many of those arrested on Thurs/Friday had no connections to the schools they were organizing “protests” at. I would strongly suggest you stay very far away from them. If you have kids on those campuses, I would suggest finding a way to bring them home unless/until this is over.
It’s now up to 48 campuses, so it’s worth having a look to see if your kids’ college is included
We are heading into stagflation, one of the worst economic positions that a country can be in.
I’ve seen a lot of “anti-boomer” talk lately, mostly centering around housing prices but also filtering into corporate corruption, the removal of pensions, kids “thrown to the wolves” and other aspects. Please take a moment to consider that the average person from the Baby Boomer generation didn’t create these systems, they merely took advantage of financial opportunities. Your ire should be directed at the politicians, lobbyists, and corporate leaders to lobby for regs and laws to be written, and Federal funds to be directed towards the creation of the system that is falling apart in front of our eyes.
White pill for the week:
From James Lindsay (@ConceptualJames on X):
“For those feeling dismay at seeing the Evil Revolution erupting all around us, here’s a little perspective. Having a cancer you don’t know about is worse than having a cancer you do know about. Treatment begins after diagnosis, and diagnosis follows realizing there’s a problem.”
The Weekend Meditation/contemplation (Friday):
“Perhaps we need some outside universal threat to make us recognize this common bond. I occasionally think how quickly our differences worldwide would vanish if we were facing an alien threat from outside this world.”
-Ronald Reagan
Links mentioned in the show:
Mike Amabile and Run Over Twice “Blind”
open.spotify.com/track/6SG99nL3…
Ray Dalio on How to Know If a Currency is Collapsing
x.com/JanGold_/statu…
Scott Galloway Tells the Truth to a Stunned MSNBC Panel on Why Youth Are So Angry
x.com/Geiger_Capital…
It’s now up to 48 campuses, so it’s worth having a look to see if your kids’ college is included
We are heading into stagflation, one of the worst economic positions that a country can be in.
I’ve seen a lot of “anti-boomer” talk lately, mostly centering around housing prices but also filtering into corporate corruption, the removal of pensions, kids “thrown to the wolves” and other aspects. Please take a moment to consider that the average person from the Baby Boomer generation didn’t create these systems, they merely took advantage of financial opportunities. Your ire should be directed at the politicians, lobbyists, and corporate leaders to lobby for regs and laws to be written, and Federal funds to be directed towards the creation of the system that is falling apart in front of our eyes.
White pill for the week:
From James Lindsay (@ConceptualJames on X):
“For those feeling dismay at seeing the Evil Revolution erupting all around us, here’s a little perspective. Having a cancer you don’t know about is worse than having a cancer you do know about. Treatment begins after diagnosis, and diagnosis follows realizing there’s a problem.”
The Weekend Meditation/contemplation (Friday):
“Perhaps we need some outside universal threat to make us recognize this common bond. I occasionally think how quickly our differences worldwide would vanish if we were facing an alien threat from outside this world.”
-Ronald Reagan
Links mentioned in the show:
Mike Amabile and Run Over Twice “Blind”
open.spotify.com/track/6SG99nL3…
Ray Dalio on How to Know If a Currency is Collapsing
x.com/JanGold_/statu…
Scott Galloway Tells the Truth to a Stunned MSNBC Panel on Why Youth Are So Angry
x.com/Geiger_Capital…