Tuesday, August 24, 2021

Buy Banks & Financials Inflation Soars

 Buy Banks & Financials


Inflation Soars - Buy Banks And Financials Before It's Too Late: BTO

High Yield Stocks, passive income, Retirement, REITs

Contributor Since 2006

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Summary

  • Inflation is here and accelerating.
  • It will push longer-term interest rates up, while the Fed keeps the short end of the rate curve low.
  • How to use the widening spread to our advantage.
  • We highlight a 5.4% yielding CEF that will protect you, and make you money, from a steepening rate curve and widening yield spread.
  • Protect the value of your investments, and your income today, before it's too late.
  • Looking for a portfolio of ideas like this one? Members of High Dividend Opportunities get exclusive access to our model portfolio. Learn More »

SEMICONDUCTORS The shortage grows longer

 

SEMICONDUCTORS

The shortage grows longer

 Francis Scialabba

As Neal over at the daily newsletter wrote last week, the chip shortage was supposed to start easing up in the second half of 2021. 

But it’s not: Susquehanna Financial Group found that the average time it takes for a semiconductor order to be delivered—i.e., lead time—increased to 20.2 weeks in July. That’s up from 19.3 weeks in June, and up from 12.6 weeks a year ago. 

  • As Bloomberg notes, the lead times grew most for the chips that go into cars, home electronics, and industrial machinery. 
  • Wait times actually fell for power management chips, which underpin small battery powered devices like smartphones. 

In case you need help visualizing the real-world impact, Toyota—which was heralded for its ability to withstand the chip crisis just a few months ago—announced it’d slash auto production in Japan by 40% next month due to...you guessed it. That translates to somewhere between 60,000 and 90,000 fewer vehicles. 

  • Last week, GM, Ford, Stellantis, and VW said they’d likely cut production due to the ongoing shortage, too. 

Looking ahead: The semiconductor shortage has been a defining story of this year, and now some companies expect it to spill over into 2022.—DM

Monday, August 23, 2021

15 Million Mail-in-Ballots Unaccounted for in 2020

 

Nearly 15 Million Mail-in-Ballots Unaccounted for in 2020 Election, Report Says

 
August 18, 2021 Updated: August 18, 2021
 

In the November 2020 general election, whose chaotic results have been vigorously disputed, almost 15 million mail-in ballots went unaccounted for, according to a good-government group that focuses on electoral integrity.

The research brief by the Indianapolis-based Public Interest Legal Foundation (PILF) notes that as the nation dealt last year with the CCP virus (which causes COVID-19), various U.S. states “hastily pushed traditionally in-person voters to mail ballots while, at the same time, trying to learn how to even administer such a scenario.”

PILF describes itself as “the nation’s only public interest law firm dedicated wholly to election integrity,” existing “to assist states and others to aid the cause of election integrity and fight against lawlessness in American elections.”

Former Justice Department civil rights attorney J. Christian Adams, now president of PILF, said the results don’t bode well for mail-in voting.

“These figures detail how the 2020 push to mail voting needs to be a one-year experiment,” Adams said in a statement.

Bills pending in Congress such as H.R. 1, the proposed “For The People Act,” “risk inflating these numbers even further, pushing our election system toward error, disenfranchisement, and ultimately widespread doubt about election outcomes,” Adams said.

“Some of the counties with the least experience in administering mail voting rejected the most ballots nationwide. If continued, 2020-style chaos will become the norm.”

PILF says it had warned that lost ballots would be an even bigger problem in 2020 compared to previous years. In total, elections in 2012, 2014, 2016, 2018, and 2020 saw more than 43.1 million unaccounted for mail-in ballots.

Federal data compilations show that during the 2020 election, there were 14.7 million ballots whose whereabouts were deemed “unknown” by election officials, according to the brief.

To gather the data, the U.S. Election Assistance Commission asked local officials how many ballots were not returned as voted, were undeliverable, or were otherwise “unable to be tracked.”

The U.S. Postal Service (USPS) inspector general most recently reported that only 13 percent of mail ballots in the 2018 general election used the official tracking system, which means there is a wide variety of things that can happen to a ballot in the “unknown” column.

“A ballot can be put in the wrong mailbox and land in an unfriendly neighbor’s trash. It can be thrown out with your unpaid bills. It can be left outside for the wind to carry the last mile (like seen in Nevada in 2020). Election officials simply do not know what happened. Unknown ballots are the greatest blind spot in the American electoral system,” the brief states.

In the 2020 election, there were 14.7 million “unknown” ballots, along with 1.1 million undeliverable ballots, and 560,814 rejected ballots.

PILF put these figures in perspective by noting that President Joe Biden carried Arizona by 10,457 votes, yet Maricopa County, the state’s largest county, reportedly sent ballots to 110,092 outdated or wrong addresses. The post-voting audit process in Maricopa is still in progress.

The scenario roughly repeated itself in Nevada, a state where Biden prevailed by 33,596 votes, even though Clark County “bounced” 93,279 ballots.

“The lesson is clear: increased reliance on mass mail voting must correlate with aggressive voter registration list maintenance,” the brief concludes.

The report notes that many counties across the country had large numbers of “unknown” ballots.

In California, Los Angeles County had 1,491,459 such ballots, followed by Orange County (482,940), Riverside County (454,911), San Diego County (317,614), San Bernardino County (274,937), Santa Clara County (251,840), and Sacramento County (241,367).

Clark County, Nevada, had 724,708 such ballots. Essex County, New Jersey, had 248,290 unknown ballots, and Maricopa County had 229,123 ballots in the unknown category.

Matthew Vadum 
Matthew Vadum
CONTRIBUTOR
Matthew Vadum is an award-winning investigative journalist and a recognized expert in left-wing activism.

MARKETS: YEAR-TO-DATE Aug 23, 2021

 

MARKETS: YEAR-TO-DATE Aug 23, 2021

Nasdaq

14,714.66

S&P

4,441.67

Dow

35,120.08

Bitcoin

$50,175.35

10-Year

1.269%

Moderna

$382.98

*Stock data as of market close, cryptocurrency data as of 11:00pm ET. Here's what these numbers mean.

  • Markets: Don’t look now (or rather, definitely look) because bitcoin topped $50,000 last night. And for today’s stock spotlight, we’re highlighting Covid-19 vaccine maker Moderna since it’s the top performer in the S&P 500 so far this year.
  • DC: The House returns from its August recess today. And after all the “So how was Kennebunkport?” small talk, Democrats will have to hash out very real differences over the path forward for the $1 trillion infrastructure bill and a $3.5 trillion social policy package. 

American Greatness - VDH On Biden Failures

 American Greatness - VDH On Biden Failures


Aug 22, 2021


The Drossy Touch of Joe Biden

by Victor Davis Hanson




Asking the Questions We Can’t Ask

by Anthony Esolen



Trump Administration’s Careful Afghanistan Withdrawal Plans Were Ignored By Biden Regime, Former Trump Aide Says



by Debra Heine



Landlords Ask 5th Circuit Court to Stay CDC Eviction Moratorium

 Who is Running This Country , Rally?


Landlords Ask 5th Circuit Court to Stay CDC Eviction Moratorium

By Matthew Vadum
 
August 22, 2021 Updated: August 22, 2021
 

Landlords in Louisiana are asking a federal appeals court to block the Centers for Disease Control and Prevention’s legally dubious nationwide eviction moratorium while that court considers an appeal from the landlords.

The Centers for Disease Control and Prevention (CDC) extended the moratorium earlier this month after President Joe Biden acknowledged doing so would be illegal and after Congress opted not to extend it.

CDC Director Dr. Rochelle Walensky signed an order on Aug. 3 determining that allowing tenants to be evicted for failing to make rent or housing payments could harm public health control measures aimed at slowing the spread of the CCP virus, also known as SARS-CoV-2, which causes the disease COVID-19. The order will expire on Oct. 3.

“The emergence of the delta variant has led to a rapid acceleration of community transmission in the United States, putting more Americans at increased risk, especially if they are unvaccinated,” Walensky said in a statement at the time.

The Dr. Frankensteins of Foreign Policy

 US Created ISIS


Goldman: The Dr. Frankensteins of Foreign Policy

Friday, August 20, 2021

CRYPTO No hide needed here - MBrew

Everything You Need to Know About Crypto Wallets 



CRYPTO

No hide needed here

 

Francis Scialabba

Facebook is ready to launch Novi, its digital wallet, exec David Marcus wrote in a memo Wednesday. He spearheads Diem (née Libra), the Facebook crypto project that kicked off with very grand ambitions.  

Considering those initial ambitions, wallets may seem like a meek starting point for Diem. But wallets underpin everything. They’re indispensable for participation in any part of the cryptocurrency ecosystem, from storing your digital gold in a metaphorical vault to actively minting JPEG images as non-fungible tokens (NFTs). 

What is a crypto wallet? 

Wallets don’t “hold” your crypto so much as store the digital credentials required to access your coins. Your wallet is encrypted proof of ownership, consisting of your public and private keys (long, random alphanumeric strings of characters). Pro tip: Do not ever give away your private key, even if a scammer asks you nicely in the DMs. 

Robust security is everything in cryptoland. Were thieves to gain access to your wallet and siphon away your funds, there’s no centralized intermediary who could roll back the on-chain transaction.

How to protecc, avoid attacc?

From whales to decentralization idealists, many opt for “cold storage” of their keys on hardware wallets. The physical devices allow for safekeeping that’s neither 1) paper nor 2) a hackable, online storage system. 

While hot (internet-connected) wallets are less secure, they still have advantages, like letting traders move funds more freely. There’s a slew of desktop, browser, and mobile offerings in this category, like MetaMask, Coinbase Wallet, and Exodus.  

In a trustless world…

...security and counterparty risks are the sine qua non of digital asset management. 

And while self-custody will remain a key criteria for much of the crypto community, tens of millions of crypto users don’t hold their own keys, instead trusting centralized exchanges to safeguard their credentials. As digital assets move beyond crypto-native dev communities to Fortune 500s and rising fintechs, third-party custody isn’t going away. 

Ultimately, it’s a choice that comes down to personal preferences, risk tolerance, and use cases. 

Tuesday, August 17, 2021

MARKETS: YEAR-TO-DATE - 08-16-21 MBrew

 

MARKETS: YEAR-TO-DATE

Nasdaq

14,822.90

S&P

4,468.00

Dow

35,515.38

Bitcoin

$47,621.01

10-Year

1.274%

JPMorgan

$159.98

*Stock data as of market close, cryptocurrency data as of 9:00pm ET. Here's what these numbers mean.

  • Markets: The trend to watch on Wall Street is whether financial and energy companies (the ones most tied to the fortunes of the US economy) will continue to outperform high-flying tech companies. The Dow and S&P begin the week following record closes on Friday.
  • Covid: The US administered nearly 1 million vaccine doses on Saturday, the most since early July. But new Covid hospitalizations for Americans 30–39 have hit a record rate. Meanwhile, vaccination leader Iceland is seeing a surge, though a vast majority of the cases are mild.