Saturday, February 4, 2023

Reasons Emerge for Worst Chain-Restaurant Slump since 2009

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by Wolf Richter, Wolf Street:
Six quarters in a row of year-over-year declines.

Foot traffic at chain restaurants fell 3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in June year-over-year. Same-store sales fell 1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}, the 16th month in a row of year-over-year declines, completing the sixth quarter in a row of sales declines, the longest downturn since 2009.

Food sales were down, alcohol sales were down. The only thing that was up was prices, but it wasn’t enough to make up for the decline in guest count: the average amount per check rose just 2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in June.

2.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}-Nuff Said, Part lll-Why Rates Will Never Be “Allowed” To Rise

by Andy Hoffman, Miles Franklin:
It’s Friday morning, on what could be a key inflectionary day in monetary history. Which is quite the extraordinary statement, when considering that mere minutes ago, I was, for once, having trouble formulating the day’s principal message. That said, when I looked through my notes – of the past 24 hours’ articles; and comments I jotted down about various topics; two charts caught my eye – which subsequently, catalyzed the revelation of why rates will never be “allowed” to rise. That is, until the bond vigilantes inevitably arrive to overwhelm government “monetizers”; in the same manner that soaring physical gold and silver demand will inevitably – and likely, simultaneously, overwhelm the naked paper shorters.

First, a chart depicting the U.S government’s record monthly outlay in June – of a whopping $429 billion, yielding a $90 billion monthly deficit. Which, I might add, was attributed to “higher subsidy costs for student loans; and to a lesser extent, housing guarantees.”

3 Examples That Show How Common Core Is Destroying Math Education In America

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by Michael Snyder, The Economic Collapse Blog:
Whenever you let federal bureaucrats get their hands on anything they are probably going to ruin it. During the Obama administration, the Department of Education spearheaded a transformation of American education that was absolutely breathtaking. Over a period of about five years, Common Core standards were implemented in almost every state in the entire nation. Unfortunately, this has resulted in a huge step backward for public education in this country. Common Core has been called “state-sponsored child abuse”, and it is a big reason why U.S. students are scoring so poorly on standardized tests compared to much of the rest of the world.

POOR CPI NUMBERS COUPLED WITH POOR RETAIL SALES SENDS GOLD AND SILVER NORTHBOUND WITH THE DOLLAR SINKING

TURKEY TURNS ITS BACK ON THE WEST: PURCHASES DEFENSE MISSILES FROM RUSSIA
from Harvey Organ:

TURKEY WILL NOT LET GERMANY VISIT ITS FORCES AT INCIRLIK

In silver, the total open interest FELL BY 2121 contract(s) DOWN to 206,358 WITH THE FALL IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (DOWN 18 CENT(S). WITH THE DATA TODAY, THE ONLY EXPLANATION IS THE COMMERCIALS CONTINUED AS THE SUPPLIER OF THE SHORT PAPER AND COVERED SOME OF THEIR SHORTS. THE SPECULATORS PITCHED SOME OF THEIR LONG SIDE PAPER

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.033 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 8 NOTICE(S) FOR 40,000 OZ OF SILVER

In gold, the total comex gold FELL BY A RATHER TAME 3,841 CONTRACTS WITH THE FALL IN THE PRICE OF GOLD ($1.50 with YESTERDAY’S TRADING). The total gold OI stands at 487,597 contracts. AGAIN, THE COMMERCIALS SUPPLIED THE SHORT PAPER TO WHICH THE SPECULATORS DECIDED TO LIGHTEN UP A BIT ON THEIR LONGS TO WHICH SOME OF THE COMMERCIALS COVERED THEIR SHORT POSITION.

we had 2 notice(s) filed upon for 200 oz of gold.

Read More @ Harveyorganblog.com

Create More Freedom Now With These Three Steps

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by Simon Black, Sovereign Man:
I’m in Rome today, on my way to spend time with my Total Access extended family at our villa outside the city.

It’s one of my favorite events of the year… I spend two weeks in central Italy surrounded by dozens of friends and colleagues. There’s no agenda. We just relax and enjoy each other’s company.

Total Access is the most exclusive membership Sovereign Man offers. As a Total Access member, you get access to private opportunities and other information that is too sensitive to put into print. And you have direct access to me and my network.