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How many times in the last three years has George Orwell’s 1984 towered like a tombstone over democracy and basic human freedoms right here in the US? This week the echoes of goose-stepping Soviet boots could be heard in the halls of Florida’s state legislature, and they were being worn by one particular Republican, Florida […]

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Market Morons Finally Forced to Face Reality

Posted February 28, 2023 By David Haggith
Celebrate because the Epocalypse is here!

Investors have been slower than a tank of turtles swimming in molasses when it comes to grasping reality, but they may be getting the message on inflation and the Fed’s fight ahead at last. That said, one should never underestimate the resolve of people to enshrine their wishes as unholy doctrines in order to continue chasing the phantasms of their greed….

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Yes, this is for real –the existence of the story, that is, not the cause of events it describes. It was published in America’s newspaper of popular choice — USA Today — and carried in various forms by other publishers. The story is alarmingly titled, “‘Never-ending drought emergency’: Italy’s iconic Venice canals have dried up.“

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Ltoinel, CC BY 3.0 , via Wikimedia Commons

This was one of those days where every news headline that went into The Daily Doom this morning made me say, “Of course it did!” — not in the approving kind of way, but in the way you say it as you roll your eyes because you see that, yes, the bread did land jelly-side-down […]

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Of course, Biden’s State of the Union Speech will include all kinds of bragging about the economy, as every president’s SOTU speech does. So, we’ll ignore all of that and look at the direction the economy is actually headed, using recent metrics in a rapid-fire revelation that looks like this:

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Stock investors don’t believe Powell because the Fed lost most of its credibility in recent years by promising it could do quantitative tightening on autopilot in its long-awaited and feared balance-sheet unwind, which crashed stocks back in 2018. Next it slammed the brakes on QT in a Fed faceplant because it had also crushed bank reserves, which the Fed, more than any entity on the earth, is supposed to understand and manage.

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It Was a “Wow! Wow!” Bow-Wow Dog of a Doozy Week for Jobs!

Posted February 3, 2023 By David Haggith
Farmer in despair over Great Depression in 1932.

Does anyone remember way back to when new jobs came in so bad the report shocked everyone by being far below expectations? Stretch your memory because it was all of three days ago that only 106,000 new jobs were created, well below the 190,000 Dow Jones estimate, and even further below the previous month’s upwardly revised 253,000. Yet, now, they’ve exploded to half a million!

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Dr. Pippa Malmgren: The New Cold War – It’s In Your Fridge

Posted January 26, 2023 By Guest Contributor
Dr. Pippa Logo

Prior to the COVID lockdown and well before the tanks rolled into Ukraine, I was trying to help audiences understand the nature of the evolving conflict among the superpowers. But, people didn’t feel the superpowers were in a true confrontation. They were careful to keep their confrontations out of the public eye. These confrontations happened in space, on and under the high seas, and in the realm of data. This is now becoming more visible.

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Retail Tales Tell a Sad Story about the Economy

Posted January 18, 2023 By David Haggith

December is supposed to be the month when retails sales flourish. Instead, retail sales came in way below expectations. Retailers were left with warehouses full of overstock, and this situation has been dragging on for about a year now with little sign that it is getting any better.

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The Davos Death Knell Has Been Rung

Posted January 17, 2023 By David Haggith
Klaus Schwab on big screen at World Economic Forum

A sense of doom pervades the elites who are starting to arrive in Davos early for the big event. Attendance appears as though it may be less than usual. The count of private jets flying into Switzerland is said to be descending because some of the world’s top leaders have decided to avoid the poor photo optics of attending rich feasts during times of famine. Is this the death knell for globalism?

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Bundesarchiv, Bild 102-08803 / CC-BY-SA 3.0, CC BY-SA 3.0 DE , via Wikimedia Commons

When several of the big money-driving voices in financial media and major financial institutions start saying the same thing I am, I start to wonder about myself. Or is it just becoming that obvious now? Some of the biggest names on Wall Street are now saying the stock market is delusional and is headed for a much deeper fall.

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Beat the establishment before it beats you ... again.

Surveying just the news that started this year in The Daily Doom, things look bad for the US economy. Worse still, if you dig beneath the few rosy headlines that did greet the year in lighter tones, the bottom falls out quickly, as it does when stepping out of a high-rise window.

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