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The ABC, CBS and NBC evening networks ignored a damning story connecting “Boston Bomber” Dzhokhar Tsarnaev to President Joe Biden’s disastrous stimulus bill. Boston 25 News reported Jan. 5 that Tsarnaev “received a $1,400 COVID relief payment” on June 22, 2021, according to a document filed by prosecutors. The date suggests that Tsarnaev received the payment just over three months after Biden signed his gargantuan $1.9 trillion COVID-19 stimulus March 11, which included $1,400 checks. Newsweek noted in its write-up that “Prisoners were largely eligible to receive $1,400 payments included in the $1.9 trillion American Rescue Plan that President Joe...

The good news is that US Real GDP grew at 2.3% QoQ in Q3 thanks to massive Federal government and Federal Reserve stiimulus. The bad news? Prices are growing at rate of 6% QoQ, three times higher than the growth of real personal consumption. Runaway inflation, cooling personal consumption. This is the definition of “stimulyltpo”: the excessive spending by Washington DC in conjunction with excessive monetary stimulus from The Federal Reserve. Let’s see if Christmas season is jolly with Sewage Joe trying to scare everyone about Omicron.

Democrat lawmakers have warned another round of federal coronavirus stimulus aid may be necessary in the wake of the emergence of the omicron variant of the virus. Despite Biden’s 2020 promise he would shut down the virus before announcing in July the United States was closer to “declaring our independence from a deadly virus,” the appearance of the omicron variant has caused Democrats to wonder if additional coronavirus aid is necessary.

Like John Belushi from The Blues Brothers, Fed Chair Jerome Powell is saying that the markets lackluster response in terms of bond yields to his “hawkish” announcement yesterday “isn’t his fault.” Federal Reserve boss Jerome Powell appears unperturbed by the fact that longer-term bond yields remain low even as officials lay the ground work for tighter policy and inflation is ticking higher. This stands as something of a contrast to the view expressed back in 2005 by one of Powell’s predecessors. Back then, Fed chief Alan Greenspan described a decline in long-term bond yields even in the face of six...

Why are CEOs and corporate insiders selling their stocks at a far faster rate than we have ever seen before? Do they know something that the rest of us do not? If stock prices are going to continue soaring into the stratosphere like many in the mainstream media are suggesting, these insiders that are dumping stocks like there is no tomorrow will miss out on some absolutely enormous profits. On the other hand, if a colossal market crash is coming in 2022, then 2021 was absolutely the perfect time to get out. As I have said countless times before, you...

What's wrong with the economy? Nobody seems quite sure, but it's clear that the Biden administration's $1.9 trillion stimulus package passed in March, on top of the $900 billion approved in December, the last full month of the Trump administration, has not had the intended results. Yes, the economy has grown, and so have wages. But the assurances of resident Joe Biden, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell that inflation is just "transitory" grow less and less credible. Warnings of this came not just from Republicans but from impeccably credentialed Democrats -- from former Treasury Secretary...

(NEXSTAR) – As the U.S. confronts rising inflation, slower job gains and a crippled supply chain, a new study finds that the Americans most in need of a stimulus check at the beginning of the pandemic continue to suffer most. The three rounds of stimulus checks spanning two presidencies were critical to lower earners, researchers with the Capital One Insights Center found, but didn’t go far enough. The study started in spring of 2020, with the authors administering surveys to a nationally representative group of Americans every four to eight months to learn more about the virus’ impact, from how...

As the $3.5 trillion federal spending bill slowly makes its way through the House and Senate budget reconciliation process, tucked inside is as much as $1 billion to help local journalism. Specifically, lawmakers have picked up on one of three provisions of the proposed Local Journalism Sustainability Act — a payroll tax credit for journalists employed by local newspapers, digital-only sites or broadcast outlets. The government would subsidize half of salaries up to $50,000 the first year and 30% for four subsequent years.

The Story is the Story Today is a US payrolls Friday. I have covered 277 of these releases. A handful were of any lasting interest, signalling something the market didn’t already know beforehand, and a few dozen more were higher/lower enough to get a few days of trading from. The expectation is 500K, which I remind everyone is way, waaay lower than the implied “1 million a month” that was promised at the start of the year. And that is all I feel I need to add, given there will be 279 to follow, and so on (and on). Meanwhile,...

The IRS has issued more than 169 million payments in the third round of direct stimulus aid, with more than 2 million people in July receiving the $1,400 checks. But some lawmakers are pushing for a fourth round of stimulus aid that would effectively send recurring payments until the pandemic ends. So far, the federal response to the economic crisis caused by the coronavirus pandemic has paid out $3,200 to eligible adults: $1,200 under the Coronavirus Aid Relief and Economic Security Act in March 2020; $600 in a December relief measure; and $1,400 under the American Rescue Plan signed in...

The number of Americans living in poverty increased for the first time in five years in 2020 as the coronavirus pandemic cost millions of Americans jobs and income, the U.S. Census Bureau said Tuesday. But federal stimulus payments approved by Congress and the Trump administration helped keep more than 5 million Americans out of poverty, the bureau said. Last year, 11.4 percent of Americans — or 37.2 million people — were living in poverty, a threshold that stands at $26,246 in yearly income for a family of four. That share was up 1 percent, or 3.3 million people, over the...

Is this bidens "dark winter"?

I will never be a fan of hip hop, but this is pretty good anyway. The lyrics are great and the message is spot on. Language alert.

Federal Reserve Chair Jerome Powell said Friday that inflation has risen enough to warrant a reduction in the central bank’s support for the recovering economy, potentially by the end of the year. In a Friday virtual speech, Powell said that the rate of price increases had achieved the “substantial further progress” necessary for the Fed to begin reducing its $120 billion in monthly bond purchases, and he expects the labor market to strengthen to that point as well soon. “At the FOMC's recent July meeting, I was of the view, as were most participants, that if the economy evolved broadly...

A bill for a guaranteed income program proposed by progressive Democrats in Congress is calling for ongoing $1,200 monthly stimulus checks for adults plus $600 for each child in the household. The program, called the Sending Unconditional Payments to People Overcoming Resistances to Triumph (SUPPORT) Act, was introduced in the U.S. House by Minnesota Democratic Rep. Ilhan Omar, and co-sponsored by Reps. Cori Bush, D-Missouri, Dwight Evans D-Pennsylvania, Jamaal Bowman D, New York, and Pramila Jayapal D-California. “Poverty is a choice. For too long we have prioritized endless growth while millions are homeless, hungry or without healthcare” Omar said in...

Well, that was fast. According to the National Bureau of Economic Research (NBER), the Covid recession is over, lasting just two months. That is the shortest recession in US history. But read the fine print: “The Covid-19 recession ended in April 2020, the National Bureau of Economic Research said Monday.” Like the Case-Shiller house price index, this measure of recession is lagged. So, it tells us good news … from April 2020 PRIOR to President Biden and the Pelosi/Schumer “Stimulypto” Congress. So, if there is a link between economic recessions and Federal Reserve monetary policy, why is The Fed continuing...

Joe Biden and VP Kamala Harris held a White House event Thursday marking the day the first round of child tax credit payments go out to some 39 million American families. 'This is a middle class tax cut,' Biden said. 'This is a tax cut for having children.' The tax credits were part of the $1.9 trillion American Rescue Plan which was passed by Congress in March with no Republican support. Republicans have argued that the child tax credit boost amounts to an expansion of the welfare state. 'We'll probably hear from our Republican friends all who voted against this,...

Federal Reserve Chair Jerome Powell struck a stance of cool defiance when it comes to concerns over inflation surging. Powell said Wednesday that he expects inflation, which has been rising by much more than expected for the past four months, “will likely remain elevated in coming months” before “moderating.” This is an indication that the Fed is not ready to change course from its declared plan to keep rates low for an extended period of time even though growth and inflation are running hotter than expected. In testimony before the House Financial Services Committee, Powell faced many questions, particularly Republicans,...

The Louisiana Legislature voted overwhelmingly Thursday to move approximately $300 million annually from a fund that pays for higher education and health care to a fund that pays for large transportation projects. Supporters have said the spending will not only improve the state’s infrastructure system, but that it will also create construction jobs. Critics are concerned the proposal would exacerbate an already expected budget deficit in July 2025 affecting state universities, hospitals and other health care programs. Gov. John Bel Edwards needs to sign the legislation for it to become law. Edwards hasn’t decided if he approves of the bill...

As of Friday, over 2.3 million people had signed a Change.org petition urging lawmakers to pass legislation for recurring $2,000 monthly payments. Initially, 21 senators, all Democrats, signed a letter to President Biden in late March supporting recurring stimulus payments