The Fed is Dead!

Posted May 19, 2020 By David Haggith

The last few months reveal how dramatic failure of the Fed looks now that it has hit the wall of diminishing returns. I’ve warned for years that the next recession would look just like what we are now seeing. I’ll show below why this graph shows in stark numeric terms just how bad it is.

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By Agnico-Eagle (Agnico-Eagle Mines Limited) [CC0], via Wikimedia Commons

Bill Gates, a plague and central banks have converged like the perfect storm to propel the US toward becoming a cashless society and toward using digital ID’s for all personal financial transactions. The coronavirus bound these forces together, compounded them with fear to overcome inertia, and is accelerating society down the digital-currency highway.

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Plane made of dollar bills going down in flames as we move to digital currency instead.

Many people are warming up to the idea of digital currency in a cashless society due to coronavirus because going touch free is cleaner than cash. Many businesses are already moving to make digital currency the only form of transaction they will engage in so their customers and their employees feel safe.

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The Dow Jones (DJIA) last week ignored the worst US jobs report in history as if it were of no concern because investors hope the coronavirus crisis is here on a short-term stay. Some argue in the market’s defense that the Dow has already discounted bad jobs reports. I say investors have not even begun […]

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Mark Hirschey / CC BY-SA (https://creativecommons.org/licenses/by-sa/2.0)

But it didn’t. Many thought, as did I, Warren Buffett likely set up the next leg down in this ongoing stock market crash. At the Berkshire Hathaway 2020 annual meeting, Buffett admitted that even oracles make big mistakes.

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Bill Gates has dollar signs in his eyes as he envisions a cashless society

This may be my most important article to date. Bill Gates went viral in several controversial interviews last month, advocating mandatory digital ID as proof of coronavirus vaccination as soon as a vaccine is available. The proof will be required, if Gates has his way, before anyone is allowed in large public gatherings.

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Unemployment line during the Great Depression

The longer US unemployment rises due to our response to coronavirus, the greater our depression, whether mental or economic, even to the point of another Great Depression. Suicides increased during the Great Depression. Suicide mortality peaked with unemployment, in the most recessionary years. The great despair of the Great Depression and increased suicide rates were due […]

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Elon Musk Portrait Painting Collage by Danor Shtruzman (https://creativecommons.org/licenses/by-sa/4.0)

Two days ago Elon Musk cussed out the State of California during an earnings call for being “fascist” because of its coronavirus shutdown of Tesla. Now Mark Cuban has called him out for it. Elon Musk Earnings Call Goes Corona Viral The battle began with Elon Musk ranting, The expansion of shelter-in-place, or as we call it, forcibly […]

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Farmers in Great Depression

It was the best of times, it was the worst of times. April closed as the best month for the US stock market since the V-shaped recovery that followed the Black Monday stock market crash of 1987. April also delivered the deepest, broadest economic collapse of any month in history.

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February traffic and clear blue skies in China during COVID-19 outbreak. (Wcr1993 / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0))

U.S. first-quarter GDP plunged profoundly negative, but real GDP would have crashed even harder if not for bogus BEA data revisions. According to the Bureau of Economic Analysis (BEA), the U.S. economy contracted 4.8% annually in the March quarter. Stocks soared on the news for two apparent reasons. First, many media outlets immediately reported the number as +4.8% […]

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Will a 2016 US recession be the next big one?

Public criticism of big businesses getting a bailout from the Paycheck Protection Program (PPP) is working as effectively as boycotts to prevent abuse that appears designed into the program by lobbyists. Presented as a way to save employees of small businesses, devastated by state and federal coronavirus lockdowns, the program doled out loans to only 19% of […]

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How to Invest in Oil and How NOT to Invest in Oil

Posted April 25, 2020 By David Haggith
Knowing how to invest in oil means not having barrel of it leaking around your home. | By fernost (Self-photographed) [Public domain], via Wikimedia Commons

With crude oil prices having gone negative, everyone and his sister is scrambling to figure out how to invest in oil and make bank where banks have failed: There must be a way to get someone to pay me to take oil off their hands so I can resell it when the world is normal again […]

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Donald Trump suggests disinfectant injection or UV light therapy for coronavirus

According to Donald Trump disinfectant injection with Lysol or a stiff drink of bleach may be the new miracle cures for coronavirus. Consulting publicly with his coronavirus team, President Trump recommended a good internal wash of Lysol to rinse COVID-19 away. That and some internal sunlight/UV light infusions to dry things out afterward.

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