Financial topics

[Higgenbotham]

Mr. Gates: (04:25:42)
I’m going to move on with my final 90 seconds. Mr. Bezos, I am deeply moved by your personal story. I am not here accusing you as someone who would ever traffic in hate, but it seems you have empowered people who do, and I’m particularly talking about the Southern Poverty Law Center. The Southern Poverty Law Center, which you allow to dictate who can receive donations on your AmazonSmile platform have said the Catholic Family News, Catholic Family Ministries, the Federation for American Immigration Reform, the American Family Association, the Family Research Council, the Jewish Defense League, and even Dr. Ben Carson are extremists and should be treated differently. Dr. Carson is on the cabinet and is one of the most renowned minds in America.

Mr. Gates: (04:26:29)
I’m just wondering why you would place your confidence in a group that seems to be so out of step and seems to take mainstream Christian doctrine and label it as hate.

Jeff Bezos: (04:26:42)
Sir, it’s a good question. For those of you who don’t know what AmazonSmile is, it’s a program that allows customers to designate a certain fraction of their purchases to go to charity that we then pay for. And they can select from any one of millions of charities. And we use the Southern Poverty Law Center data to say which charities are extremist organizations. We also use the US Foreign Asset Office to do the same thing…

Mr. Gates: (04:27:09)
But why? Since they’re calling the Catholics and these Jewish groups hateful groups. Why would you trust them?

Jeff Bezos: (04:27:15)
Sir, I’m going to acknowledge this is an imperfect system.

Mr. Gates: (04:27:19)
No doubt.

Jeff Bezos: (04:27:19)
And I would love suggestions on better or additional sources.

Mr. Gates: (04:27:25)
My suggestion would be a divorce from the SPLC and I see that I’m out of time and I yield back.

[aeden]

Google will invest $450 million in ADT in exchange for newly created Class B shares that come with no votes
in company elections, appointments, or removal of directors. How convenient comrade.

https://www.scmp.com/economy/china-econ ... fears-amid
Mold.

https://archive.org/details/pdfy-Iqz3yt ... 5/mode/2up Every one knows but you.
https://www.zerohedge.com/markets/blain ... are-coming

The collaborative virus cult will let you die.
Test early and treat. You can bet your last nickle they
already vaccinated or have a .mil test and treat program.
https://blog.nomorefakenews.com/2020/07 ... ts-whores/

https://ibb.co/JFT0MYd Facts do matter and collaboration agenda cults.
Silent Weapons for Quiet Wars.
An Introduction Programming Manual.

[Higgenbotham]

Young Brothers said it needs to dramatically increase its shipping rates this summer if it is going to break even financially and keep its services operating through year's end.

Hawaii's sole inter-island ocean carrier, which is regulated by the state's Public Utilities Commission (PUC), said the coronavirus pandemic is already expected to leave it with a loss of $30 million by the end of 2020 at current rate levels.

Even before the state implemented its COVID-19 travel restrictions earlier this year, Young Brothers lost money and the company asked the commission in 2019 to approve a rate increase valued at $13 million.

Young Brothers said its latest rate increase request to the PUC, valued at $30 million, aims to recover a portion of the company's projected loss after operating and labor expenses are factored. The company asked state regulators to approve the rate increase from August through the end of the year.

"I want to be clear that this proposed rate increase would only allow the company to break even in 2020 if the rates were in place for a full year," said Young Brothers President Jay Ana in a statement. "We are not seeking an allowed rate of return or any sort of profit as part of this request."

The company, which in the spring unsuccessfully sought $25 million in federal government CARES Act relief funding, said since April its cargo volumes have dropped 30% due to Hawaii's stay-at-home orders and the decline in tourism. Young Brothers officials estimate the company is losing more than $3 million a month in revenue as the virus continues to plague the state's economy.

In April, the company, which operates eight multipurpose barges and six tugs and has a staff of about 130, began cutting costs by reducing its weekly sailing schedules among Maui, Kahului and Hilo for a savings of $6 million. It has also reduced gate hours at its barge terminals, instituted a hiring freeze and reduced executive salaries.

Young Brothers warned the PUC that its parent company, Saltchuk, which also owns U.S.-flag domestic ocean carriers TOTE Puerto Rico, TOTE Alaska and Foss Maritime, will no longer cover its losses as it has in years past due to its own "staggering" COVID-19-related financial losses.

"We know our customers and small businesses across Hawaii are struggling to cope with the unprecedented challenges brought on by COVID-19," Ana added. "That's why we pursued all available avenues of relief before making the difficult decision to accelerate our request for higher rates. But this request is vital for Young Brothers to stay in business and continue connecting our island economies."

https://finance.yahoo.com/news/hawaiis- ... 35613.html

"The company, which in the spring unsuccessfully sought $25 million in federal government CARES Act relief funding..."

Knowing how to waddle up to the window for a bailout is absolutely essential in the current US economy.

Kodak learned how to do the waddle so Rochester may boom while the periphery of Hawaii starves.

[Higgenbotham]

I read today that the central banks are no longer relevant because governments will hijack control of the money supply.

A common thread in hyperinflation histories is that the politicians get control of the money printing. There is some economic trouble and "the country needs more money". The politicians have huge popular support, the press, and the backing of the military and police. The central bankers never stand a chance. But after that there is no restraint in government spending, they print as much as they want. The USA seems to have started this, though not a complete takeover yet.

The Fed Is Planning To Send Money Directly To Americans In The Next Crisis

https://www.zerohedge.com/markets/fed-p ... ext-crisis

Looks to be a race to get control of the money printing so as to be more "relevant". Somewhere in the article the Fed officials accuse Congress of being too slow and clunky in getting money out to Americans.

As Coronado explains the details, Congress would grant the Federal Reserve an additional tool for providing support—say, a percent of GDP [in a lump sum that would be divided equally and distributed] to households in a recession. Recession insurance bonds would be zero-coupon securities, a contingent asset of households that would basically lie in wait. The trigger could be reaching the zero lower bound on interest rates or, as economist Claudia Sahm has proposed, a 0.5 percentage point increase in the unemployment rate. The Fed would then activate the securities and deposit the funds digitally in households’ apps.

As Potter then elucidates, "it took Congress too long to get money to people, and it’s too clunky. We need a separate infrastructure. The Fed could buy the bonds quickly without going to the private market. On March 15 they could have said interest rates are now at zero, we’re activating X amount of the bonds, and we’ll be tracking the unemployment rate—if it increases above this level, we’ll buy more. The bonds will be on the asset side of the Fed’s balance sheet; the digital dollars in people’s accounts will be on the liability side."

And that, in a nutshell, is how the Fed will stimulate the economy in the next crisis in hopes of circumventing the reserve creation process: it will use digital money apps (which explains the Fed's recent fascination with cryptocurrency and digital money) to transfer money directly to US consumers.

[aeden]

And now that traders are starting to turn their attention to surging covid cases in Europe and Japan while the US situation appears to have plateaued, expect this rollercoaster to reverse fully with the EUR slide only starting and the Dollar uptrend resuming. t

Shorts Crushed As Dollar Surges
book four very modest add for dca
h was correct to halt spoon feed
this next phase could push 34xx

[Higgenbotham]

h was correct to halt spoon feed

Yes, I've temporarily dialed back to 6 lots and have only modest losses on the day. But I still think we're very very close to a top.

[Higgenbotham]

The Fed Is Planning To Send Money Directly To Americans In The Next Crisis

https://www.zerohedge.com/markets/fed-p ... ext-crisis

Compared to the alternatives, I think this proposal is brilliant. These are the reasons:

*It avoids negative interest rates, which is probably more lethal to the financial system, and more harmful to the average person.
*Trump has been criticizing the Fed for not going to negative interest rates and, without saying so, this proposal makes Trump's criticism irrelevant.
*If they distribute the counterfeit money evenly across all households and disqualify households over a certain income threshold that puts to bed the criticisms of the Fed exacerbating income and wealth inequality.

[vincecate]

The S&P is at 3300. Since bottom in March was 2200 this is exactly 50% up. That is one big dead cat bounce. This seems like a nice round number for a top. Will see...

[Higgenbotham]

h was correct to halt spoon feed

Yes, I've temporarily dialed back to 6 lots and have only modest losses on the day. But I still think we're very very close to a top.

I continued in the same vein until day end but I agree we are very very close. We're so close that I may not have 10 on when the high occurs (or did occur)...

[aeden]

Join the Chicago Authoritarian REporting Network (CAREN)

Is your neighbor cutting the grass without a mask and gloves?
Do you know of a church holding Sunday services without permission of non-essential politicians?
Are you tired of people not living in total fear?
If you answered yes to all of the above, maybe it’s time to join the Chicago Authoritarian REporting Network (CAREN).
Proudly displaying this 11×17″, matte finished poster in the background of your next Zoom meeting or in the window of your shuttered,
non-essential business will let others know you’re not playing.
Zone C up +138%
Almost up to the 1970's numbers not including serial killers.
https://heyjackass.com/caren/#
https://heyjackass.com/

As noted the prophecy starts in the islands...
Ireland is lost.

From Ireland:
They have just appointed a gay green pro pedophile as their Minister for Children following the incumbent minister losing her parliamentary seat who was and American lesbian and self declared witch. This following years in power of a PC liberal gay half Indian Prime Minister who introduced gay marriage and abortion on demand as well as giving children access to gender changing surgery without parental consent. The Government and many of the Irish are engaged in a policy of full scale destruction of the family and the Christian faith. And the majority of the Irish believe their economy is vibrant and they are so PC correct and loved by everybody. Ireland is dead and gone.

1969 All Indians declared citizens of U.S.