Listen to the Bitwise CIO interview around the 3:30 mark...bullish (umm, I'm always bullish...or at least, I'm never panicking).
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unemployment jumping to 4.1% as a four-year high for unemployment it's roughly 20% above Trump's last preco vid unemployment rate and triggers the fed's dreaded Sahm rule suggesting that we are indeed in a recession...congratulations to everybody.
Where did it all go wrong? New revisions...over a 100,000 jobs we thought we had turned out to be imaginary.
...
over 1/3 of the jobs allegedly created were actually government workers, so depending how revisions go next month of course that could turn out to be 1/2 or more government workers which is spitting distance to the Soviet Union
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...so would Donald Trump be a disaster like Joe Biden has been or would Trump be amazing like last time
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200 billion of additional spending per year under Bush Obama and Trump; meanwhile, Joe Biden is on track to spend roughly three trillion above precovid which is about 500 billion per year even after inflation.
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in short Trump wins on spending and he wins hands down on growth.
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I can't begin to defend why, but I am a Jeff Ross fan and I expect there are regulations because he is investing for the clients versus providing a platform for clients to buy/hold their own keys. If the regulations are to the point that he's not allowed to invest in Bitcoin directly, then I again trust his judgment on finding the right proxies like Microstrategy, miners, etc.
Not much I can add to this commentary.
Why did our government drag us into this tragic comedy...oh, that's right...because they were busy transferring all the wealth to the boomer generation.
Let that perspective sink in...
What a joke...no, wait...this is just a sad reality and testament to what government does.
Appreciate the comments at around the 5:12 mark regarding the thinly veiled intentional transfer of wealth to the boomers.
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Washington’s spending freight train can be stopped -- in fact, we did stop it in the 90's under Clinton and Gingrich: From 1997 to 2000 we ran budget surpluses totaling nearly $600 billion.
The key was gridlock -- two parties that despised each other so much the only thing they could agree on was to sabotage each other’s plans.
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https://www.profstonge.com/p/will-debt-sink-the-american-empire
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They want to declare Joe Biden braindead, but not so cognitively impaired that he wouldnt be able to serve out his term, but also braindead enough that he must immediately declare that he’s not going to run for another term.
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https://www.dossier.today/p/the-democrat-mutiny-machine-wants
So many good ones in Robert Malone's Friday Funnies...just pasted a few here...
#memes
“Inflationary recessions are hard to see because asset prices jump before consumer prices do”
If our inflation rate is 35-50%…as evidenced by fast food and grocery prices…we’ve been in recession for 5 years…
Hey, Kamala...somebody "fixed" your pithy catchphrase you keep hoping (futilely thinking you are JFK, MLK, etc) will catch on.
A couple good ones from Robert Malone's Sunday Strip
Median home price in May was record $419,000…up nearly 6% since last year.
The sale of existing homes is down 40% since Biden took office. Existing homeowners can’t afford to leave their low interest rate mortgages…but new homeowners can’t afford the prices AND mortgage rates.
I do 5 grams a day - mornings because it is usually before a workout (or hours of tennis coaching) as well as a cognitive benefit.
In a smoothie, or I'll put the scoop of creatine and scoop of citrulline in my coffee mug...give it a whisk in some water...and slam it.
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Creatine is like your second mitochondria. Or, the mitochondria’s chief of staff. Or its co-pilot.
Your mitochondria make ATP so you can see clearly, hear accurately, digest your food, power your brain, show off your your shiny skin, lift heavy things, and perform your best at the challenges you face. They do that all with the help of creatine.
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If you have never read Chris Masterjohn, be prepared for a thorough, DEEP dive.
This is regarding creatine. FYI, the foundation of my daily supplements includes creatine, glycine, and citrulline (a precursor to arginine).
https://chrismasterjohnphd.substack.com/p/your-cells-are-starving-for-creatine
From the Daily Bitcoiner #meme of the day
I'm looking forward to our "diminishing returns"...
A couple good #memes in Robert Malone's Sunday Strip...
https://rwmalonemd.substack.com/p/sunday-strip-happy-fathers-day
Reminder that I'm not a Trump fan (although I voted for him twice). I still have to reconcile the possibility of doing it a 3rd time or simply not voting at all or throwing my vote away on an IDEOLOGICALLY more suitable candidate (so they can capture 1-3% of the vote, or less).
Blue team is a non-starter for me...
Just sharing because I liked the #meme
"Once again, your tax dollars at work!"
https://alexberenson.substack.com/p/the-washington-posts-self-parody
Well, I just saw one opinion posit they were changing his dementia meds to get a little acceleration in his decline...so they could justify making a move.
Or, he leaves office after Hunter's conviction to "focus on his family". The noble (hair sniffing, stumbling, lying) patriarch that he is, you know.
Agreed - lots of money sloshing around with cool "titles" (inflation reduction act, etc)...lots leaving the productive class and into the coffers of the 1%ers. And Ukraine, of course.
Still wondering if he even makes it to election day...perhaps done after the first debate (should he even make it that far).
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Once the savings were gone, debt was on the table, with private debt skyrocketing from car loans to student loans to credit cards. Hitting $17.5 trillion — a new record.
That's now hitting a wall, with credit card delinquencies up 50% year on year.
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https://www.profstonge.com/p/the-3-drivers-of-us-consumers-hit