Seeing this headline html first thing Saturday morning is disorienting

 https://www.marketwatch.com/story/u-s-stock-futures-slip-as-investors-await-fed-chairman-powells-jackson-hole-address-11661508928

Investors await Powell's address?

That was published 24 hours ago, before the Powell speech, and the contents were updated last evening just before 5:00 PM.

But the pain surely ain't in the Fed.

The only pain described in the story is in households, businesses, families, not in the Fed.

Those Fed guys are rich, and get paid very handsomely.

The top 100 employees each made $274k or more in 2020. They are all named, here.

That puts them in the top 2% of all wage earners in the US.

They're the elites.

They experience no pain.

The Federal Reserve System had 23,517 employees in 2021, with a total system operating expense of $5.7353 billion, or about $244k per employee.

They live in a bubble. 

Everybody's just phonin' it in and getting the hell out of Dodge for the weekend. 

Especially Drudge.

 

The Fed is all talk and no action fighting inflation

 The effective federal funds rate stands at 2.33% and $8.85 trillion remains on the balance sheet while Powell makes speeches.

Borrowing is still very cheap for the big boys and the Fed's finger on the scale makes it impossible to know the true value of its mortgage backed securities and US Treasuries.

Meanwhile inflation rages at 8.5% in July.

The market "rout" is merely another yawn as Americans get punished at the grocery store and the gas station.

Current GDP of $24.883 trillion, reported 8/25, implies a fairly valued market level of around 1,600 not 4,057. The S&P 500 remains 153% above that.

They remain rich, and you remain . . . the reason why.

 

Over 7,000 Americans died liberating Guadalcanal, which just denied a US Coast Guard cutter a port of call

 The Chicoms are trying to take over.

Story.

Unintentional poisoning deaths, i.e. drug overdose deaths, are up a whopping 568% since 1998 to over 800,000 but Democrats hope you'll vote for them so they can ban guns which accidentally kill fewer people than industrial meat mixers

Democrats are the party of drugs and sex, aka overdose and abortion.

Joe Biden was going to mask for 10-days after Jill's rebound infection on Wednesday, but the mask was nowhere in evidence at Joe's Thursday campaign event in Maryland

 The on-going COVID-19 emergency which Joe ignores is also the excuse for the $10k student loan bailout even though the Biden administration is arguing that because the COVID-19 emergency is over Trump's Title 42 policy at the border must come to an end.

Got it?

Good.

I'm so old I can remember when Joe Biden first said Republicans were going to take away your Social Security, way back in 1861

 

Breaking: Full-on fascist Joe Biden warns Republicans are only semi-fascist

 Full-on robot woody:

Italy has another opportunity to vote for someone who wants to end the immigration emergency: Giorgia Meloni of The Brothers of Italy Party

Giorgia Meloni, leading the race to become Italy's next prime minister, was accused on Monday of shameful electioneering by her rivals after posting a video of a Ukrainian woman being raped by a migrant in an Italian city. ...

Meloni, whose Brothers of Italy party heads the polls ahead of a Sept. 25 national election, tweeted the video, which had been posted on a newspaper website with the image blurred but the woman's cries clearly audible.

"One cannot remain silent in the face of this atrocious episode of sexual violence against a Ukrainian woman carried out in daytime in Piacenza by an asylum seeker," Meloni wrote.

"A hug to this woman. I will do everything I can to restore security to our cities."

Reuters.

Biden is breaking the law by canceling student loans, and everybody knows it

A COVID-19 emergency excuse is even less persuasive today than it was when Pelosi last year said Biden doesn't have the authority to cancel the loans.

This will be stopped by the courts, same as Biden's illegal vaccine mandate for the private sector was stopped.

Still waiting, however, for the courts to reverse the illegal deprivation of the former president of access to his own papers. 

So don't hold your breath.

This out of control and senile old man Joe Biden should be impeached and removed from office.

US Department of Education, Office of the General Counsel, January 12, 2021, here:

All federal student loan programs administered by the Department are funded through annual Congressional appropriations drawn from the Treasury. These appropriations are conditioned on the Department’s faithful execution of the laws authorizing that loans be made available to eligible borrowers and then repaid or collected. See 20 U.S.C. §§ 1077a, 1078, 1078-3, 1078-6, 1078-7, 1080, 1080a, 1082, 1083, 1085, 1087e, 1087-1, 1087gg, 1091b, 1092b, 1092c, 1095a, 1098e. Although Congress could enact legislation authorizing the Department to provide blanket or mass cancellation, compromise, discharge, or forgiveness of student loan principal balances, and/or to materially modify repayment amounts or terms, it has not done so. See 20 U.S.C. §§ 1077-10 – 1077-12, 1087e(f), 1087e(h), 1087ee, 1091b, 1098d. Rather, Congress has explicitly authorized cancellation, compromise, discharge, or forgiveness, and/or material modifications to repayment amounts or terms only in very limited circumstances. See, e.g., 20 U.S.C. §§ 1087e(f), 1087e(h), 1094(b)(3), 1098aa, et seq. ...

Title IV’s plain text and statutory scheme, and controlling interpretative canons, compel us to conclude Congress appropriated funds for student loans with the expectation that such loans would be repaid except in very specific circumstances.

LOL, ABC News Chief Washington Correspondent ignorant about three Republican presidents who gained Senate seats in the first term

 Only three.

Whenever Nancy Pelosi says something can't happen, you know it will

 

Manhattan chooses Jerrold Jerry GoNadsler Up In My Armpits over Carolyn Maloney

The City of Dreams.

America's wrongest newspaper can't get even an election in its own backyard correct

 

Libertarian America is as deluded today by cannabis as Italy was by astrology during the Renaissance

Taking cannabis regularly in your mid-20s can cause permanent damage to the brain and its legalization in some states has wrongly suggested to many that it is safe, the head of the National Institute on Drug Abuse (NIDA) has told DailyMail.com.

Dr Nora Volkow, who has led the agency for almost two decades, warned that cannabis use among young adults was a 'concern' and called for more 'urgent' research into the 'potential health risks' for the age group.

Her agency — which is part of the National Institutes of Health — revealed Monday that a record number of 19 to 30-year-olds were using cannabis in 2021, with one in ten admitting to using it every day. Around 30 percent used the drug at least once a month, with four-in-ten having used the drug at least once last year. ...

 

Health agencies in the U.S. have been warning for years there is a 'real risk' that cannabis can harm a person's mental development and their social life — including triggering problems with relationships, education and careers.

But their concerns have largely been swept under the carpet as many states push forward with legalizing the drug for recreational use.

In November another six states — Arkansas, Maryland, Nebraska, North and South Dakota and Oklahoma — are set to decide whether to also liberalize the drug's use.

More.

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But their concerns have largely been swept under the carpet as many states push forward with legalizing the drug for recreational use.

The FBI illegally deprived Trump access to his papers, and the hullabaloo about classified materials is total crap: Merrick Garland is a renegade who should be impeached

The Trump Warrant Had No Legal Basis 

The Presidential Records Act became effective in 1981, at the start of Ronald Reagan’s presidency. It established a unique statutory scheme, balancing the needs of the government, former presidents and history. The law declares presidential records to be public property and provides that “the Archivist of the United States shall assume responsibility for the custody, control, and preservation of, and access to, the Presidential records.” 

The PRA lays out detailed requirements for how the archivist is to administer the records, handle privilege claims, make the records public, and impose restrictions on access. Notably, it doesn’t address the process by which a former president’s records are physically to be turned over to the archivist, or set any deadline, leaving this matter to be negotiated between the archivist and the former president. The PRA explicitly guarantees a former president continuing access to his papers. Those papers must ultimately be made public, but in the meantime ... the PRA establishes restrictions on access to a former president’s records, including a five-year restriction on access applicable to everyone (including the sitting president, absent a showing of need), which can be extended until the records have been properly reviewed and processed. Before leaving office, a president can restrict access to certain materials for up to 12 years. ...

In making a former president’s records available to him, the PRA doesn’t distinguish between materials that are and aren’t classified. That was a deliberate choice by Congress, as the existence of highly classified materials at the White House was a given long before 1978, and the statute specifically contemplates that classified materials will be present—making this a basis on which a president can impose a 12-year moratorium on public access.

 

 

I mean yeah, c'mon, doesn't the judge know there's a drought going on?

 Judge Accused of Calling Immigrants 'Wetbacks'...

Well, if that's how you're going to look at it . . .

 . . . then way to go, Brownie!

Every time you silence someone you make yourself a prisoner of your own action, because you deny yourself the right to hear something

 -- Christopher Hitchens, in

Fire in a Crowded Theatre 

. . . from David Irving’s edition of the Goebbels Diaries . . . I learned more about the Third Reich than I had from studying Hugh Trevor­ Roper and A. J. B. Taylor combined when I was at Oxford.

 

John Locke did not believe in a chosen people, American let alone Jewish

 In the races of mankind and families of the world, there remains not to one above another the least pretence to have the right of inheritance.

-- John Locke

The Fed's quantitative tightening is a complete farce, same as under Trump: In the last two months it reduced its balance sheet by $83 billion when in the two months from Feb-Apr 2020 it increased it by $2.5 trillion

 

 

These people should be in jail for their crimes against capitalism.