(Tyler Durden) After an unexpected jump in new home sales and larger than expected drop in existing home sales, today’s pending home sales print is the tie-breaker for sentiment in the housing market in May as homebuilder sentiment soured and mortgage rates and applications soared. As it turns out pending home sales unexpectedly rose 0.7% MoM in May (versus a 4.0% MoM expected drop) and with a downward revision to April from -3.9% MoM to -4.0% MoM…
Finance
Federal Reserve Details ‘Digital Dollar’ Plans
(Ben Bailey) The Federal Reserve (FED) is rolling out plans to develop a “Digital Dollar”, according to FED President Jerome Powell. According to a report in Reuters, there had been speculation that such a thing would develop in response to the popularity in cryptocurrencies and the decreasing value of the US Dollar (USD). Critics of the Digital Dollar, or what is often referred to as a Central Bank Digital Currency (CBDC) point to the idea that the FED will have the power to freeze accounts on an arbitrary basis.
Turns Out Keynes Was A Commie — The Widening Wealth Gap by Design?
(Tyler Durden) Why The Cantillon Effect Creates Communism
Biden Plans To Cancel $10,000 In Student Debt Per Borrower Ahead Of Midterms
(Tyler Durden) As soon as this weekend, President Biden could announce a plan to cancel $10k in student debt per borrower, according to WaPo, citing three people with knowledge of the matter.
The IRS Fell Behind So Its Employees Destroyed 30 Million Tax Documents in an Effort to Catch Up
(Joe Hoft) The IRS fell behind in processing taxes, so its employees just deleted 30 million taxpayer documents.
As Tax Deadline Arrives, IRS Still Has Millions of Unprocessed Returns From Last Year
(The Center Square Staff) The last weekend for Americans to file their taxes before the Monday deadline is here, but the Internal Revenue Service still faces major backlogs for individual and business filings.
Billionaires Taking $1.01 Billion from Taxpayers to Finance a Football Stadium — Distracting You is Expensive
(Matt Agorist) It’s no secret that the federal government has little restraint about using taxpayer dollars for non-essential initiatives and projects. One venture, in particular, continuously shouldered by taxpayers is the building, maintaining, and renovating of sports stadiums. These stadiums are often built with the help of federal subsidies as well as funding through state and local taxes. This issue is not new, as study of subsidized stadiums by the Department of Economics at the College of the Holy Cross noted that “construction costs alone for major league professional sports facilities have totaled in excess of $30 billion in nominal terms over the past two decades with over half of the cost being paid by the public.”
A Paradigm Shift in Global Finance, Gold, Silver, Uranium, and Grains Is Now Underway
(David Smith) The biggest financial paradigm shift in our lives is underway, and there’s no turning back. No one knows exactly what it’s going to look like going forward nor how we’ll be able to get there.
Forbes Terminated Corruption Researcher After He Looked Too Closely at Fauci’s Financials. This is What He Found.
(Kyle Becker) Dr. Anthony Fauci, the once-ubiquitous face of the Covid pandemic, has suddenly disappeared from the public limelight. The polarizing figure has gone from the frontlines of the government’s crusade to push Covid vaccines back to the shadows of the murky world of public health agencies and Big Pharma corporations.
The Coming Terror of Social Impact Finance and Social Credit Scores
(Derrick Broze) Will the social engineers of the future use social engineering tools such as social credit scores and social impact finance to co-create a more equitable and just world? Or are all of the buzzwords simply another mask for the next stage of colonialist-corporate-capitalism?
Bank Runs Begin in Russia, Serving as a Reminder for ALL People To Question the Stability of All Banks Around the World
(Lance D Johnson) Bank runs have already begun in Russia. The Russians are flocking to the banks and ATMS, as Russian banks are cut off from The Society for Worldwide Interbank Financial Telecommunication (S.W.I.F.T.). This international system is the main messaging network by which banks process financial transactions worldwide. Global institutions are targeting Russians at a rapid pace. Entire banks are being “canceled” in Russia, and the citizens there will ultimately be the ones who suffer.
SAD! Zuckerberg Fights Off Tears At Meeting As Facebook Sees Its Worst Day On The Stock Market
(Adam Wilson) Facebook saw its worst day on the stock market today as the company lost $237 Billion in value and CEO Mark Zuckerberg lost more than a quarter of his total net worth in just one day. The company’s spectacular crash comes as it faces competition from other social media companies such as TikTok. During a meeting discussing the crash Zuckerberg urged his employees to focus more on video social media and appeared to be on the verge of tears. The social media pioneer claimed he was on the verge of crying because he had scratched his eye and that it had nothing to do with Facebook’s falling stock prices. The Daily Mail Reports–
Fed Reserve Co-Chairman Resigns Amid Reports of Questionable Stock Fund Purchase
(Just the News staff) Federal Reserve Vice Chair Richard Clarida, the No. 2 at the U.S. central bank, says he will resign Jan. 14, amid reports about a questionable stock fund purchase.
IKEA Says Supply Chain Issues Forcing Them to Raise Prices
(Cassandra Fairbanks) IKEA has boosted its prices due to the supply chain crisis.
Biden & Globalists Building Global Taxation Regime
(Jesse Smith) The Deep State and its minions are currently erecting a global taxation regime that will eventually fund a one-world technocratic government, warns The New American magazine’s Alex Newman in this episode of Behind The Deep State.