The Shitshow Macro Weekly Wrapup Podcast for Friday, 8.2.24 is out:
-On Statecraft and Religion: Splintering Christianity post and podcast were released for premium subscribers on Wed and Thurs, respectively.
Domestic:
-In a massive kick in the gut for me & my fellow GWOT vet brethren, the DOJ decided to cut a plea deal with KSM (9/11 “mastermind”) to avoid the death penalty.
--The Biden/Harris campaign was quick to say they had no visibility on this
--so…who in the hell is running the country, exactly?
-Kamerla Harris was officially “crowned” (MSM’s verbiage, not mine) as the DNC’s candidate today without a single policy position on her website, no press conference, and no primary voters or campaign.
--To save Democracy, or something.
-A report out in The Federalist (@thefederalist) states that there are 300,000 double-registered names on US voter roles across the states. That is only one of the many types of potential fraud.
--Article in the show notes.
-It turns out that several US states ran a test trial of Universal Basic Income (UBI), a policy proposal that the progressives absolutely love. You haven’t heard about it because it went horribly.
--Athan Koutsiouroubmas (@Athan_K) put out an excellent thread today that breaks down the trial and results, which I will share in the show notes.
--It’s worth a read, as they will try to nationalize this despite the horrendous evidence of how it works out.
-SCOTUS has vacated DC Judge Chutkan’s ruling that went away from long-stated precedent and pierced presidential immunity in Trump vs US.
-The DHS Inspector General (IG) report on J6 dropped today, and it looks like confirmation that DHS significantly stonewalled the J6 investigation into its actions, including deleting texts and wiping cell phones.
--So weird, what do they have to hide? Why did they act like the Mueller Special Council team?
-Hackers attacked the US blood bank this week, resulting in 250 hospitals being asked to activate their emergency blood bank protocols. Article from @ZeroHedge in the show notes.
-‘Member the Jordanian illegals who tried to force their way onto the Marine base at Quantico earlier this year? Biden’s DOJ decided to let them walk free after posting bail.
--How many tiers of justice are we up to? Asking for non-violent J6ers.
--@NYPost article in the show notes.
-A new lawsuit has been filed in Florida against DHS Sec Mayorkas, the FL DA & SOS for conspiracy to allow election fraud by importing illegals & working with NGOs to register them to vote.
-Trump once again did what other politicians don’t have the stones for. He walked into a lion’s den of an interview with a catty, agitating, argumentative ABC reporter at the NABJ meeting this week.
--The media had a total meltdown because he had the crowd laughing, agreeing with him, and many calling out the cattiness afterward.
--Notably, the TDS-sufferers insisted on launching claims via writing, so their audiences wouldn’t see the actual video to decide for themselves. Frauds and charlatans, in my personal opinion.
-Multiple state Attorneys General (AGs) have announced investigations into potential ActBlue money laundering as video investigations have found many, many people who are listed as donors but say they never donated, or others who defy logic in terms of the frequency and amount of donations made in their names across multiple states.
War/Military:
-Israel was able to smuggle a bomb into a Tehran guest house several months ago that was used to grease the Hamas military commander Mohamed Deif who was in town for the Presidential inauguration in Iran this week.
--This puts Tehran in a very bad position.
--Israel sent back channel comms to Iran and Qatar (where the Hamas leadership lives in luxury) that they were willing to go to full-scale war and/or nukes if Iran retaliates and harms Israelis.
--Iran doesn’t want that, but can’t afford to look weak on the world stage.
--Will we see all-out war or another choreographed “saving face” missile launch on empty buildings? As a wise man once said, we shall see.
-On Statecraft and Religion: Splintering Christianity post and podcast were released for premium subscribers on Wed and Thurs, respectively.
Domestic:
-In a massive kick in the gut for me & my fellow GWOT vet brethren, the DOJ decided to cut a plea deal with KSM (9/11 “mastermind”) to avoid the death penalty.
--The Biden/Harris campaign was quick to say they had no visibility on this
--so…who in the hell is running the country, exactly?
-Kamerla Harris was officially “crowned” (MSM’s verbiage, not mine) as the DNC’s candidate today without a single policy position on her website, no press conference, and no primary voters or campaign.
--To save Democracy, or something.
-A report out in The Federalist (@thefederalist) states that there are 300,000 double-registered names on US voter roles across the states. That is only one of the many types of potential fraud.
--Article in the show notes.
-It turns out that several US states ran a test trial of Universal Basic Income (UBI), a policy proposal that the progressives absolutely love. You haven’t heard about it because it went horribly.
--Athan Koutsiouroubmas (@Athan_K) put out an excellent thread today that breaks down the trial and results, which I will share in the show notes.
--It’s worth a read, as they will try to nationalize this despite the horrendous evidence of how it works out.
-SCOTUS has vacated DC Judge Chutkan’s ruling that went away from long-stated precedent and pierced presidential immunity in Trump vs US.
-The DHS Inspector General (IG) report on J6 dropped today, and it looks like confirmation that DHS significantly stonewalled the J6 investigation into its actions, including deleting texts and wiping cell phones.
--So weird, what do they have to hide? Why did they act like the Mueller Special Council team?
-Hackers attacked the US blood bank this week, resulting in 250 hospitals being asked to activate their emergency blood bank protocols. Article from @ZeroHedge in the show notes.
-‘Member the Jordanian illegals who tried to force their way onto the Marine base at Quantico earlier this year? Biden’s DOJ decided to let them walk free after posting bail.
--How many tiers of justice are we up to? Asking for non-violent J6ers.
--@NYPost article in the show notes.
-A new lawsuit has been filed in Florida against DHS Sec Mayorkas, the FL DA & SOS for conspiracy to allow election fraud by importing illegals & working with NGOs to register them to vote.
-Trump once again did what other politicians don’t have the stones for. He walked into a lion’s den of an interview with a catty, agitating, argumentative ABC reporter at the NABJ meeting this week.
--The media had a total meltdown because he had the crowd laughing, agreeing with him, and many calling out the cattiness afterward.
--Notably, the TDS-sufferers insisted on launching claims via writing, so their audiences wouldn’t see the actual video to decide for themselves. Frauds and charlatans, in my personal opinion.
-Multiple state Attorneys General (AGs) have announced investigations into potential ActBlue money laundering as video investigations have found many, many people who are listed as donors but say they never donated, or others who defy logic in terms of the frequency and amount of donations made in their names across multiple states.
War/Military:
-Israel was able to smuggle a bomb into a Tehran guest house several months ago that was used to grease the Hamas military commander Mohamed Deif who was in town for the Presidential inauguration in Iran this week.
--This puts Tehran in a very bad position.
--Israel sent back channel comms to Iran and Qatar (where the Hamas leadership lives in luxury) that they were willing to go to full-scale war and/or nukes if Iran retaliates and harms Israelis.
--Iran doesn’t want that, but can’t afford to look weak on the world stage.
--Will we see all-out war or another choreographed “saving face” missile launch on empty buildings? As a wise man once said, we shall see.
-Israel also smoked Hezbollah military commander Fuad Shukr prompting a fiery speech from Nasrallah (Hezzie SecGen).
--The Hezzies launched a massive missile attack this morning, so we’ll see what happens.
-YNetalerts (as per our friend @chiIIum) reported that Israel launched a preemptive attack in Syria (Al Dabaa Airport) that took out Iranian and Hezzie missiles.
-Sudanese military leader General Abdel Fattah narrowly escaped an attempted assassination by drone attempt while he was at a military ceremony on Wed.
-Lindsay “Lady G” Graham submitted a resolution to send your kids to war with Iran, as this aging NeoCon queen is prone to do. Notably, Lady G has no kids of his own, so it’s yours that he volunteers at the first opportunity, repeatedly.
-Perhaps related, perhaps not, but it was reported that 12 US Navy warships set sail for the Middle East.
--On whose orders, exactly?
-US forces conducted defensive airstrikes in Musayyib, Babil Province, Iraq on Tuesday targeting militants who were attempting to launch drones. The attack targeted a base used by the Iranian-backed Popular Mobilization Force (PMF), with 4 PMF killed and 4 more wounded.
-In extremely interesting news given what’s going on in Venezuela, former US Green Beret Jordan Goudreau was arrested in NY this week on gun smuggling charges related to his failed coup in Venezuela in 2020. Article in the show notes.
-Ukraine’s military intelligence agency (GUR) claimed an assistance role in the Mali attack by Touregs that smoked a bunch of Wagner mercs last week and led to others being taken prisoner.
-The US has pledged a $500mm aid package and strengthening of cooperation (including both military and intelligence) with the Philippines amidst their ongoing (and growing) tensions with China.
Markets/economics:
-Unless you’ve been living under a rock, you probably know that the market has been cratering in the US.
-It hit Japan this week as well, with the worst crash for Japan since Black Monday 1987.
-$3 trillion in market cap has been erased from US stocks since July 16
-The jobs report that was released today was, SURPRISE, bad.
--On that note, @ZeroHedge reported that 57% of jobs year-to-date are statistical fakes due to the birth/death adjustment (guesses by BLS that private sector can quickly debunk)
-US unemployment notched up to 4.3%
-It’s not just the equities. The 10-year note yield dropped 55 bps this week.
-We’ve seen bad news and fake data constantly be ignored by the market this year, but this time it seemed to finally stick (Japan probably had a lot to do with that).
--I hope you listened all the times that I’ve told you that things would get squirrely and the drop would come fast.
--It ain’t over.
--It’s the economy, stupid.
-As the EU and UK decided to reduce their rates, JPan decided to raise theirs for the first time in a long time.
--I will once again point you to the previous Shitshow Macro post: Is the Fed Battling the EU Tyrants.
--Things don’t make sense unless you understand what was laid out here thanks to Tom Luongo.
Business:
-Both Chevron and Standard Oil reportedly decided to move their HQ ops from California to Texas this week.
-Wayfair CEO Niraj Shah called the current slow down in the consumer goods category like 2008 as she reported company earnings misses on both the top and bottom lines, according to @MacroEdgeRes
-Intel announced previously that it would be cutting 10,000 jobs, but that number climbed to 19,650 by the middle of this week.
--Its share price has cratered and lost ⅓ of its market cap since.
Health:
-Dr. Paul Thacker (@thackerpd) released a Substack this week outlining that emails have shown NIH big wigs had a coordinated effort to fool Congress re: Coof and Coof response.
-Link to his Sub in the show notes.
--The Hezzies launched a massive missile attack this morning, so we’ll see what happens.
-YNetalerts (as per our friend @chiIIum) reported that Israel launched a preemptive attack in Syria (Al Dabaa Airport) that took out Iranian and Hezzie missiles.
-Sudanese military leader General Abdel Fattah narrowly escaped an attempted assassination by drone attempt while he was at a military ceremony on Wed.
-Lindsay “Lady G” Graham submitted a resolution to send your kids to war with Iran, as this aging NeoCon queen is prone to do. Notably, Lady G has no kids of his own, so it’s yours that he volunteers at the first opportunity, repeatedly.
-Perhaps related, perhaps not, but it was reported that 12 US Navy warships set sail for the Middle East.
--On whose orders, exactly?
-US forces conducted defensive airstrikes in Musayyib, Babil Province, Iraq on Tuesday targeting militants who were attempting to launch drones. The attack targeted a base used by the Iranian-backed Popular Mobilization Force (PMF), with 4 PMF killed and 4 more wounded.
-In extremely interesting news given what’s going on in Venezuela, former US Green Beret Jordan Goudreau was arrested in NY this week on gun smuggling charges related to his failed coup in Venezuela in 2020. Article in the show notes.
-Ukraine’s military intelligence agency (GUR) claimed an assistance role in the Mali attack by Touregs that smoked a bunch of Wagner mercs last week and led to others being taken prisoner.
-The US has pledged a $500mm aid package and strengthening of cooperation (including both military and intelligence) with the Philippines amidst their ongoing (and growing) tensions with China.
Markets/economics:
-Unless you’ve been living under a rock, you probably know that the market has been cratering in the US.
-It hit Japan this week as well, with the worst crash for Japan since Black Monday 1987.
-$3 trillion in market cap has been erased from US stocks since July 16
-The jobs report that was released today was, SURPRISE, bad.
--On that note, @ZeroHedge reported that 57% of jobs year-to-date are statistical fakes due to the birth/death adjustment (guesses by BLS that private sector can quickly debunk)
-US unemployment notched up to 4.3%
-It’s not just the equities. The 10-year note yield dropped 55 bps this week.
-We’ve seen bad news and fake data constantly be ignored by the market this year, but this time it seemed to finally stick (Japan probably had a lot to do with that).
--I hope you listened all the times that I’ve told you that things would get squirrely and the drop would come fast.
--It ain’t over.
--It’s the economy, stupid.
-As the EU and UK decided to reduce their rates, JPan decided to raise theirs for the first time in a long time.
--I will once again point you to the previous Shitshow Macro post: Is the Fed Battling the EU Tyrants.
--Things don’t make sense unless you understand what was laid out here thanks to Tom Luongo.
Business:
-Both Chevron and Standard Oil reportedly decided to move their HQ ops from California to Texas this week.
-Wayfair CEO Niraj Shah called the current slow down in the consumer goods category like 2008 as she reported company earnings misses on both the top and bottom lines, according to @MacroEdgeRes
-Intel announced previously that it would be cutting 10,000 jobs, but that number climbed to 19,650 by the middle of this week.
--Its share price has cratered and lost ⅓ of its market cap since.
Health:
-Dr. Paul Thacker (@thackerpd) released a Substack this week outlining that emails have shown NIH big wigs had a coordinated effort to fool Congress re: Coof and Coof response.
-Link to his Sub in the show notes.