Posts Categorized: In The News

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Bill Holter’s Commentary

Up is down, in is out and wrong is right…just remember, one man’s debt is another man’s asset so when one does not pay another is not paid!

No Payment, No Problem: Bizarre New World of Consumer Debt
August 7, 2020

All kinds of weird records are being broken. But it’s scheduled to expire, and then what?

By Wolf Richter for WOLF STREET.

The New York Fed released a doozie of a household credit report. It summarized what individual lenders have been reporting about their own practices: If you can’t make the payments on your mortgage, auto loan, credit card debt, or student loan, just ask for a deferral or forbearance, and you won’t have to make the payments, and the loan won’t count as delinquent if it wasn’t delinquent before. And even if it was delinquent before, you can “cure” a delinquency by getting the loan deferred and modified. No payment, no problem.

Nearly all student loans go into forbearance, delinquencies plunge.

Student loan borrowers were automatically rolled into forbearance under the CARES Act, and even though many students had stopped making payments, delinquency rates plunged because the Department of Education had decided to report as “current” all those loans that are in forbearance, even if they were delinquent. Yup, according to New York Fed data, the delinquency rate of student loan borrowers, though many had stopped making payments, plunged from 10.75% in Q1, to 6.97% in Q2, the lowest since 2007:

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Bill Holter’s Commentary

Many words come to mind but let’s use “immature” rather than something more inflammatory and descriptive. Maybe we should just cancel all classes, forever, and hand out degrees? That might be better as students would have less “indoctrination” that way? We should also pay all professors and new graduates for a life of zero work because that is their God given right? Not really sure what the spark will be but at this point it seems a very violent future is in store for us all…! And here I thought the book Animal Farm was total fiction when I was a kid, little did I know it foretold our future?

Faculty, Students Across US Hold ‘Die-Ins’ To Protest Return To Campus
August 9, 2020

As the fall semester approaches, students from universities across the United States are holding protests, marches, and “die-ins” to denounce the return of in-person classes.

Most American universities are entering the fall semester under a hybrid model of virtual learning and in-person instruction. However, student activists believe that these decisions are motivated by money- not the health and well-being of students.

Protesters are correct in assuming that there are financial consequences for universities moving to only online instruction. Postsecondary institutions across the United States are watching their summer and fall enrollment plummet as they adapt to virtual learning. Many are laying off faculty and cutting budgets by as much as 25 percent.

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Bill Holter’s Commentary

Michael Snyder is correct.

The Economic Depression Of 2020 Is Becoming An Endless Nightmare For Millions Of Americans
August 6, 2020

You may have noticed that a lot of people get offended by what I write. It is not something that I am purposely setting out to do, and I actually endeavor to get along with everyone as much as I can. But it is undeniable that my articles about our ongoing economic collapse directly contradict a lot of the narratives that are constantly being pushed by the mainstream media and many of our political, business and religious leaders. There are so many people out there that want to believe that the future is going to be exceedingly bright, and even though 2020 has been a horrific economic catastrophe so far, there are a lot of optimists that believe that it is just a temporary blip on the road to tremendous prosperity.

It would actually be wonderful if they were right.

But they aren’t.

At this point, everyone should be able to clearly see that we have entered a new economic depression. And I wish that I could tell you that a “recovery” was right around the corner, but I can’t.

On Thursday, we got yet another sign that this downturn is here for the long haul. According to the Labor Department, approximately 1.2 million Americans filed new claims for unemployment benefits last week…

Four months after the COVID-19 pandemic largely shut down the economy and left millions of Americans out of work, employers continue to lay off workers at a historic pace.

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Bill Holter’s Commentary

Erik on the touchy subject of “wokeness”. First let me say this, ALL LIVES MATTER! which even includes baby’s lives. Now, someone please pass this along to the snowflakes who aim to destroy anyone’s life who doesn’t agree 100% with 100% of their stances. I don’t have a boss so I cannot be fired, my Mom and Dad have passed away (God rest their souls) so they can’t tell mommy and daddy on me, and frankly I don’t give a rats ass what some demented wokester believes. I will not be judged by the deranged who believe there are 57 different genders and swear that 2+2 is racist if it equals 4. I will be judged only by God. Again, all lives matter and I just wish people would simply respect others and follow the “live and let live” principle because the world would be a far better place! 

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Somewhere North of 'Woke' (On Identity Politics)_002

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Bill Holter’s Commentary

Or…you could give your child a real education with a real future and send them to trade school? The real upside of course is if you don’t pay and send them to college, they won’t come back to you babbling pabulum leftist bullshit!

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Bill Holter’s Commentary

More Erik for you.

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Bill Holter’s Commentary

Scary but real from Erik.

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The Gentrification of Mob Violence (On Politics)_002

Bill Holter’s Commentary

Is this one over yet?

How the S&P 500 Performed During Major Market Crashes
August 5, 2020

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Bill Holter’s Commentary

…Or, just don’t live there?

Minneapolis Authorities Warn Residents ‘Prepare’ to be Robbed & Obey Criminals
August 3, 2020

Authorities in Minneapolis sent out a letter to residents telling them to ‘prepare’ to be robbed and to obey criminals following a recent surge in robberies and carjackings.

“Be prepared to give up your cell phone and purse/wallet,” states the email, which also says that if a resident encounters a criminal, they should “do as they say.”

The advisory comes off the back of over two months of rioting, protests and unrest following the death of George Floyd.

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Bill Holter’s Commentary

Presented with no comment because I am speechless!

Top Federal Reserve Official Says US Needs Another Lockdown To Save Economy
August 3, 2020

The government should again impose strict coronavirus-related lockdowns for a month or longer across the U.S. in order to boost the economy, a top Federal Reserve official said Sunday.

Neel Kashkari, president of the Minneapolis Federal Reserve Bank, said the nation needs to control the spread of the virus, which is increasing across much of the country, to get back on a path to economic health.

“That’s the only way we’re really going to have a real robust economic recovery. Otherwise, we’re going to have flare-ups, lockdowns and a very halting recovery with many more job losses and many more bankruptcies for an extended period of time unfortunately,” Kashkari said on CBS’s “Face the Nation.”

To do so, he suggested strict shutdowns, which is contrary to what President Trump and many of his allies have been pushing in recent months as measures to aid the economy.

“I mean if we were to lock down really hard, I know I hate to even suggest it, people will be frustrated by it, but if we were to lock down hard for a month or six weeks, we could get the case count down so that our testing and our contact tracing was actually enough to control it the way that it’s happening in the Northeast right now,” Kashkari said. “They had a rocky start, but they’re doing a pretty good job right now.”

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Bill Holter’s Commentary

And MSM will claim these are “peaceful and inclusive” protesters?

As They Turn To Burning Bibles, Portland Rioters Show Their True Colors
August 1, 2020

While rioters previously attacked federal buildings, businesses, and even officers, this weekend, they found a new target: Bibles.

A video posted to Twitter on Saturday shows rioters holding Black Lives Matter signs tossing Bibles into a fire. Bystanders stood and watched as the flames licked away at the pages of the books.

“Left-wing activists bring a stack of Bibles to burn in front of the federal courthouse in Portland,” wrote the Twitter user, Ian Cheong, who posted the video.

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Bill Holter’s Commentary

They would never do this…would they?

After Flynn unmaskings, U.S. intel won’t answer whether agencies spy on Congress
August 2, 2020

The dramatic disclosure earlier this year that the Obama administration sought to unmask ex-National Security Adviser Mike Flynn’s conversations intercepted overseas is reviving a long-unanswered question: Do U.S. spy agencies also monitor members of Congress?

That question has lingered at least since May 2017, when Sen. Rand Paul (R-Ky.) demanded to know whether his conversations overseas while running for president in 2016 were umasked by the Obama administration.

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Bill Holter’s Commentary

Some more reality from Erik. We especially like this quote “But after the election, the next bail-out will be a bail-in of deposits” because it does seem likely.

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