🚨 Nonfarm payroll gains were sharply revised down: May's total dropped from 144,000 to 19,000, and June's from 147,000 to 14,000—a combined cut of 258,000 jobs.
Trump has already done more lasting damage to our Republic and economy in seven months than Biden did in four years:
Self-enrichment, budget-busting Big Beautiful Bill, higher federal spending, push to abolish the debt ceiling, constant Powell bashing, plan to install a
July PPI soared 0.9% MoM, far in excess of the +0.2% that had been expected. It was the biggest jump since June 2022, sending YoY PPI up 3.3%, the highest since Feb. A CPI spike is next. So much for rate cuts. I wonder who Trump will fire for rigging the PPI to make him look bad.
The U.S. Govt. taking a 10% stake in $INTC is not only unconstitutional, it’s a bad idea. Trump wasn’t hired to run a hedge fund. This is a very bad precedent to set, as it moves our nation further away from free-market capitalism. Had Biden done this, Republicans would be livid.
Friendly reminder as we discuss loan fraud that Bill Pulte - the heir of a billionaire family - attested under oath that his Private Equity company (Pulte Capital) would go bankrupt without a $50k PPP loan he never paid back.
Pulte
Let's be honest, firing Lisa Cook has nothing to do with mortgage fraud. Don't close your eyes to what's obvious. Trump went looking for dirt, and this is what he dug up. Trump wants to stack the Fed, so he found a pretense to replace a member who he believes stands in his way.
Bill Pulte's father and stepmother claimed tax exemptions on primary residences in two states, leading local tax officials in Michigan to revoke the one on a property in Bloomfield Township after inquiries from Reuters.
MICHAEL BURRY WARNS OF ‘EARNINGS FRAUD’ FROM EXTENDED ASSET LIVES
“The Big Short” investor Michael Burry accused major tech firms of inflating profits by extending the useful life of equipment. He said hyperscalers’ Nvidia-driven spending should shorten, not lengthen,
Every company listed below has suspicious revenue recognition. The actual chart with ALL the give-and-take deals would be unreadable. The future will regard this a picture of fraud, not a flywheel. True end demand is ridiculously small. Almost all customers are funded by their
Silver bootie $SI_F
Today nearly 2years of world production traded on world exchanges
More than 1.5 billion ounces
The last time such a proportion traded was Apr 25, the day of the 2011 top
I called that top on Apr 24, 2011 here:
peterlbrandt.com/how-do-you-spe…
Not this time though???
Powell basically said that the recent jump in gold is irrelevant to Fed policy. But when Greenspan was Chair he said that he watched gold closely as it was the best indicator of whether interest rates were too low or too high. How can a once-critical metric no longer be relevant?
This is asinine. Trump wants to make the housing bubble bigger so homeowners can keep pretending they’re rich by owning houses they can’t sell because they’re too expensive for anyone else to buy.
Golden Age Update:
• Tariffs rescinded and refunded
• 3 million unreleased Epstein Files
• Iran War restarting soon
• Ukraine War ongoing
• Minneapolis surrendered to illegals
• Mass deportations cancelled
• Greenland invasion cancelled
• Midterm defeat guaranteed