Goldman Sachs, home to many big donors to Democrat presidential candidate Joe Biden’s campaign, has admitted to a record-setting $1.6 billion foreign bribery scheme this week. The Justice Department announced charges against Goldman Sachs for their executives’ involvement in a foreign bribery scheme, the largest in United States history. As a result, Goldman Sachs will pay more than $2.9 billion as
Democrat presidential candidate Joe Biden touted Wall Street’s support for his candidacy against President Trump at Thursday night’s presidential debate in Nashville, Tennessee. “Right now, by the way, Wall Street firms indicated that my plan, my plan will in fact create 18.6 million jobs — seven million more than his. This is from Wall Street,” Biden said. “And I’ll create
CLAIM: At Thursday night’s presidential debate, President Trump said Democrat presidential candidate Joe Biden has taken “all the money from Wall Street.” VERDICT: TRUE. Biden’s presidential campaign is being bankrolled by nearly every big bank on Wall Street, including Goldman Sachs, Wells Fargo, Citigroup, and JPMorgan Chase. You’re the one that takes all the money from Wall Street… you’ve
The former Goldman Sachs executive who helped one of the biggest banks profit off the nation’s housing collapse in 2008 is pouring hundreds of thousands of dollars into Democrat presidential candidate Joe Biden and Sen. Kamala Harris’s (D-CA) campaign. Donald Mullen Jr., as first noted by the Washington Free Beacon, gave $200,000 to the Biden Victory Fund in August. Mullen
WASHINGTON—Investors and economists have been debating the shape of the post-lockdown economic recovery in the United States for months, and they’ve labeled their forecasts for a rebound with letters such as V, W, or U. President Donald Trump and his advisers have repeatedly touted a “V-shaped” recovery, as the economic data over the past five months showed an exceptional rebound, with some data points already surpassing pre-pandemic levels. Democratic presidential nominee Joe Biden, however, disagrees with Trump, describing the recovery as “K-shaped,” with the rich getting richer and the poor getting poorer. “[Trump] talks about a V-shaped recovery. It’s a K-shaped recovery. If you’re on the top, you’re going to do very well,” Biden said at the ABC News town hall on Oct. 15. “If you’re in the middle or the bottom, your income is coming down. You’re not getting a raise.” Biden’s comments echoed what some economists have been warning about, the pandemic’s unequal toll on businesses and society. Because of large gaps in the performance of different sectors of the economy, some businesses are doing well while others continue to struggle. And this uneven recovery also is evident in the U.S. labor market. Some analysts, however, believe that this “alphabet soup” of economic forecasting has become more of a partisan issue. “The reality is every recovery is K-shaped,” Ed Yardeni, a veteran Wall Street strategist and president of Yardeni Research, told The Epoch Times. The recession caused by the pandemic would leave many people and businesses behind, he said. “That happens with every recovery. Not everybody returns back to normal at the same pace, and some may never return back to normal,” Yardeni said. “The K is really more of a partisan issue, because if we have a K recovery, then obviously we need more government to fix that problem. So, I think K is really more driven by politics than macroeconomics.” The rebound from the lockdown recession in the U.S. economy over the past five months has been stronger than most economists predicted. And the recent economic data continue to suggest a strong recovery. Retail sales, a measure of purchases at stores, restaurants, and online continued to rise in September, the fifth straight month of growth, driven by strong sales in housing-related goods, autos, and clothing. The housing market has also been a bright spot for the economic recovery, supported by record-low interest rates and increased demand for the suburbs. According to the new data released on Oct. 19, homebuilder sentiment set a record high for the second month in a row in October. Closely followed surveys of consumer sentiment and small-business optimism climbed to their highest levels since the pandemic broke out. “Investors tend to focus on the broad economy, and they tend to focus on revenues and earnings of companies. And we’re definitely seeing a V-shaped recovery in the S&P 500 revenues and earnings,” Yardeni said. Despite disappointing jobless claims and labor market recovery in recent weeks, the unemployment rate also dropped to 7.9 percent in September from a peak of 14.7 percent in April. Effects of a K-shaped Recovery While some industries are hiring back workers quickly, it’s clear that job losses are heavily concentrated in service industries, according to a new report by the U.S. Chamber of Commerce. The latest job market data showed the unequal impacts of a K-shaped recovery, with goods-producing industries at the top of the K, while services are the bottom, the report stated. More than 82 percent of the jobs lost since the beginning of the pandemic are service jobs, and leisure and hospitality account for nearly 36 percent of the losses. Every recession or every recovery is K-shaped, which has winners and losers, according to Nick Reece, senior analyst at Merk Investments. “It’s just the reality of the world that we live in that some of these areas of the economy are not allowed to reopen. Therefore they don’t even have the possibility of having a V-shaped recovery,” he told The Epoch Times. In some states such as New York, for example, restaurants are allowed to reopen with indoor dining at 25 percent capacity, he noted. With these government-mandated lockdowns, “there’s no option for these restaurants to have a 100 percent recovery,” he said, adding that the fiscal support should mainly target those sectors in the lower half of the K. Large gaps in the performance of different sectors of the economy are also evident in the stock market. Since the March 23 market low, the technology sector rallied above previous all-time highs, while airlines, energy, and hospitality businesses significantly lagged. “This has created enormous inequality not just in the performance of economic segments, but in society more broadly,” JPMorgan strategist Marko Kolanovic wrote in a report dated Aug. 31. “On one side, tech fortunes reached all-time highs, while lower-income, blue-collar workers and those that cannot work remotely suffered the most.”
Democratic presidential nominee Joe Biden was courting early voters in North Carolina on Sunday. Biden accused President Donald Trump of giving investors on Wall Street a heads up in the earlier stages of the pandemic, but not the American people. It’s an allegation that’s been made by The New York Times in recent days.
Democrat presidential candidate Joe Biden is planning to build back the Washington, DC, political class to business as usual as his advisers have started meeting with K Street lobbyists who are eager for President Trump to leave office. Last month, Biden’s campaign revealed that they would allow lobbyists to join the former vice president’s transition team should he win on
California donors from Silicon Valley, Hollywood, and businesses are helping Democratic Senate candidates to swamp GOP campaigns, according to a report by the Los Angeles Times. “Between June 1 and September 30, Democratic Senate candidates raised $386 million and GOP candidates raised $154 million, with [South Carolina’s Jamie] Harrison raising the most of any Senate candidate [$57 million] in a
Democrat presidential candidate May well Biden is raking in many millions of dollars from Wall Street, days away from the November 3 political election against President Trump. In the last few months, Biden’s campaign great fundraising committees have “benefited through big money contributions from finance commanders on Wall Street and across the nation, ”
Democrat presidential candidate May well Biden touted Wall Street’s assistance for his economic agenda throughout a town hall in Philadelphia, Pa, this week. During the HURUF News town hall at the National Constitution Center, Biden recommended Wall Street analysis that chemicals his economic plans as much better than President Trump’s economic nationalist plan.
Mac SlavoSeptember 16th, 2020SHTFplan.com The central bank of the United States, the same one that creates dollars out of thin air, is “fighting the last battle.” Things are going to get a lot worse, and it’s all by design. The goal is a full control centralized dollar and dependence on the system for a universal basic income. In other words, complete slavery is the ultimate final goal of the New World Order. The central banks are in control right now, the dollar is collapsing, and this is all being done on purpose. The Fed won’t be changing anything dramatically with regards to their monetary policy, and if you already know what the end game is, you know this. The “last battle” they are fighting now is for ultimate control over every single transaction of all human beings. Interest rates will be allowed to drop even further and the dollar will be destroyed all while Americans continue to struggle to put food on the table and the corporations get ridiculously wealthy. Last night, Greg Mannarino uploaded his “Market Wrap Up” and tried to remind those listening of what is really going on. “They are on a mission to own it all,” says Mannarino of the Fed’s ultimate plans. “They’re gonna buy more debt, they’re gonna issue more debt, and they’re gonna melt the dollar…nothing is gonna change here. The goal of these central banks is to inflate massively. Debts and deficits are going to balloon.” Mannarino continued, saying: “It’s pretty obvious and it should be to anyone that things are going to get monumentally worse by design...it’s all a scam. This entire thing is a charade, it’s fake.” The United States alone has Great Depression levels of unemployment, half (or more) of small businesses are gone for good, never to return, meanwhile, Wall Street executives are ettin the biggest bonuses in history this year. Let that sink in. There is no recovery. There was never meant to be. President Trump is Breaking Down the Neck of the Federal Reserve! He wants zero rates and QE4! You must prepare for the financial reset We are running out of time Download the Ultimate Reset Guide Now! Author: Mac SlavoViews:Date: September 16th, 2020Website: www.SHTFplan.com Copyright Information: Copyright SHTFplan and Mac Slavo. This content may be freely reproduced in full or in part in digital form with full attribution to the author and a link to www.shtfplan.com. Please contact us for permission to reproduce this content in other media formats. SHTFPLAN is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.
This article was contributed by Lior Gantz of The Wealth Research Group. Gold is currently trading for JUST UNDER $2,000/ounce and Wall Street firms have issued PRICE TARGETS of $2,500 and $3,000. But I want to also present the INVERSE CASE since it’s important to understand that (1) commodities don’t go up in a straight line and that (2) NO ONE knows what the future holds. We’re not predicting gold crashing, but we are DEFINITELY raising the point that gold is enjoying its best year since 2010 and that silver has SURGED BY 150% since March! Therefore, my goal today is to ENSURE that you’re aware of the roadblocks ahead since gold might test the $1,900/ounce mark and silver may CRASH BY $2 or $3 in AN INSTANT before they both eventually RAISE HELL and hit new highs! The best way to hedge this is to have cash LINED UP in case commodity prices fall so that one could buy more ounces, while he takes profits on miners now, BOOKING GAINS. Courtesy: ZeroHedge.com As you can see, REAL YIELDS might have bottomed and, IF THAT’S THE CASE, gold and silver might have peaked for the time being (2-4 months). There are TWO SURPRISES that can tilt the odds back in precious metals’ favor, THOUGH: (A) the upcoming elections and (B) INFLATION overshooting. You can position for both of these AT THE SAME TIME, thus creating proper diversification in your portfolio. The way to do that is to HAVE EXPOSURE to the comeback stocks, the dominators in the industries that Covid-19 has disrupted most. The reason for this is that if these sectors go back to normal, gold’s USE-CASE as a chaos hedge is diminished, but SILVER’S ROLE as an industrial metal is heightened! We are about to release our CORONAVIRUS VICTIM COMEBACK Watchlist and if it’s as good as our previous three watchlists, HUGE RETURNS are in store. There’s a boatload of LIQUID CASH on the sidelines, so just understand that with 300 out of the 500 companies on the index DOWN IN 2020, it is the index that is overvalued, but not the components of it. Basically, 10 companies have pulled it up, while 300 are holding it back. Another reason we anticipate SURPRISE INFLATION is the boom in residential real estate. If REAL RATES have bottomed, many mortgage applicants will begin TO RUSH into the market, anticipating higher interest payments in the YEARS AHEAD. That’s money-multiplier velocity, which is REALLY GOOD for commodities as well. As you can see above, while millennials have pounded prices up for TSLA shares and other “story” companies, the professionally-managed funds are NOT BULLISH yet, so we like real estate right now. Courtesy: Zerohedge.com Lastly, I want to address the topic of CORRECTIONS and PULLBACKS. Yesterday, I put Virtual Reality goggles on and simulated an F-16 flight, which included throttling ALL THE WAY forward and then BRAKING HARD a couple of seconds afterward, in order to INCREASE RESULTS. That’s what I believe is happening right now; every pullback shows you where SUPPORT IS. Getting shaken out is easy; staying LONG is hard. We’re in a bull market for equities, real estate, precious metals, and Bitcoin; CASH IS TRASH! President Trump is Breaking Down the Neck of the Federal Reserve! He wants zero rates and QE4! You must prepare for the financial reset We are running out of time Download the Ultimate Reset Guide Now!