by Michael Hudson, The Unz Review:
BEN NORTON: Hi, everyone. I’m Ben Norton, and this is Geopolitical Economy Report. Today, I have the pleasure of being joined by Michael Hudson, the brilliant economist and author of many books.
Michael is also the co-host of a program here, Geopolitical Economy Hour, that he does every two weeks with friend of the show Radhika Desai. I will link to that show in the description below.
by Jon Miltimore, FEE:
It’s not just high taxes that are driving people out of cities. There are other costs—moral, social, and cultural—associated with spurning property rights and celebrating looting.
Last September, billionaire Ken Griffin announced he was pulling up stakes and moving Citadel—his gigantic hedge fund—from Chicago to Miami.
The Windy City was out of control, he told Bloomberg, something that dawned on him after a colleague made a coffee run and was robbed by a thief who put “a gun to his head.”
by Wolf Richter, Wolf Street:
Union Bank made a deal to sell its tower at 75% off original listing price, setting the first new benchmark. Other towers waiting in the wings.
We have been tracking what older office towers, many of them from the 1980s and 1990s, are worth when they finally do sell, either in a foreclosure auction or in a regular transaction. Two towers in Houston sold at a foreclosure auction at a price where the lenders – holders of Commercial Mortgage-Backed Securities (CMB) – lost 80% and 88% respectively. In the foreclosure sale of the vacant 46-story 1980s “One AT&T Center” in downtown St. Louis, CMBS holders took a 100% loss.
by Michael Snyder, The Economic Collapse Blog:
Those that are wrecking our economy don’t seem to have much empathy for the millions upon millions of people that they are hurting. As you will see below, one Fed official is actually suggesting that interest rates may need to go even higher even though the interest rate hikes that we have already seen are turning lives upside down all over the country. Everywhere you look people are in severe pain, but this is only just the beginning. And I would encourage you not to ever look down on those that have had a run of bad fortune, because it could happen to you too.
by Pam Martens and Russ Martens, Wall St On Parade:
Since the banking crisis began making headlines at expensive media real estate, the narrative has been that deposits are fleeing the small commercial banks and flooding into the biggest banks that are perceived as too-big-to-fail and thus offer a safer venue for deposits.
Because these mega banks are the same ones that the Fed has been bailing out since the financial crisis of 2008, that narrative requires believing that our fellow Americans are dumber than a stump.
by Michael Snyder, The Economic Collapse Blog:
This new economic downturn is starting to bite, and we are starting to see signs of severe pain all over the nation. In fact, unless you are independently wealthy, you are likely feeling pain too. The cost of living has risen to extreme oppressive levels, and this has happened at a time when close to two-thirds of the country was already living paycheck to paycheck. As a result, many Americans are having their finances stretched to the breaking point, and millions of them are reaching out for help. For example, on Saturday morning the line of people waiting for assistance at one of Boston’s largest food pantries “stretched the length of two football fields”…
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED UP $8.70 TO $2025.60 AS INVESTORS DEMAND PHYSICAL DELIVERY FROM THE MASSIVE SHORTS ON FRIDAY//SILVER WAS DOWN 7 CENTS TO $25.57//PLATINUM CLOSED UP $17.10 TO $1079.30//PALLADIUM CLOSED UP $51.10 TO $1555.50//ANDREW MAGUIRE: A MUST VIEW TAPE//ALSO DR DANIEL LACALLE: A MUST READ!//UKRAINE VS RUSSIA: THE CRAZY UKRANIANS ARE FIRING ON THEIR NUCLEAR FACILITY//COVID UPDATES//DR PAUL ALEXANDER/VACCINE IMPACT/SLAY NEWS/EVOLE NEWS//IN USA: HUGE RUN ON THE BANKS WITH 360 BILLION DOLLARS LEAVING BANK DEPOSITS FOR MONEY MARKETS//CREDIT CARD USE INCREASE AGAIN IN DRAMATIC FASHION AS MANY AS MAXED OUT//CALIFORNIA DEFAULTS ON PANDEMIC FUNDS ISSUED BY THE FEDS//TYSON FOODS, LARGEST FOOD PRODUCER IN THE USA SHOWS A LOSS IN LASTEST QUARTER/
by TheDarkMan, The Duran:
Cheques (or checks in American parlance) have been with us a long time. Although they take a while to clear, they are safer to use than cash, especially for large purchases. At one time, ordinary people, especially women, would not be issued with chequebooks by their banks. Cheques have two big advantages over cash. If you sign a cheque for a thousand dollars then lose it or it is stolen, you simply put a stop on it with your bank whereas if you lose cash, it’s usually gone forever. Cheque payments can also be traced, so again, they are safer than cash.
by Martin Armstrong, Armstrong Economics:
A lot of people somehow think that the move to Digital Currency is a completely new monetary system, It is targeted to eliminate cash transactions so everything is taxable and nothing can be hidden from our overlords. If we look at commerce in the United States during 2022, 82% of all transactions were digital – Debit cards (20 percent), credit cards (30 percent), and digital wallets 32 percent. That was e-commerce.
from Stew Peters Network:
TRUTH LIVES on at https://sgtreport.tv/
