Are the Feds Buying Junk Bonds??

 Has the Dam Burst

With Real Estate Prices

Going Downstream??

 

Forwarded this email? Subscribe here for more Repeat: Paedo-In-Chief Trump Is Not Coming To Save You Or 'The Children' When will the Trumpstein brigade get it into their heads all politics is theatre. All puppeticians are actors with skeletons in their cupboards - that’s how they get the job in the first place Gemma O’Doherty Jul 21 2025 The megatarded Magatards have been losing their minds over their Orange Messiah’s broken promise on the release of the Epstein files. It’s been painful to watch. I’m hoping that most of the fuss is faux outrage manufactured by the lamestream media to gaslight the dopes who still believe politics is real. Surely sentient people don’t actually swallow any of this junk? But clearly some still do, so we will have to spell it out for the slow learners once again. All politics in the West is theatre. All puppeticians are actors. There are no governments left. There is no media left. There are no courts left. The Jewish moneymen control the entire racket. Face it and move on. Trump is nothing more than an actor reading from a script. He has zero power. Like his fellow minion Musk, he is not a billionaire and never was. He is just a sleazy compromised television character playing a role. How could anyone who calls themselves ‘awake’ continue to support this disgusting criminal who pushed the Covid scam and vaccine poison on behalf of his handlers, killing and maiming potentially millions of Americans? The ‘Epstein Files’ psyop is another contrived media production written by twisted Jews and designed to demoralise Trump worshippers, keep them dumbed down and distracted. There is no secret list of elite paedophiles. They are all paedophiles once they rise to the top of the swamp, be it in politics, Hollyweird or media. It’s a rite of passage: they either have to participate or be willing to turn a blind eye. If you make it into the club, it means you have a closetful of skeletons. You don’t get in otherwise. Do you really think these creeps are going to let you in on what they get up to behind closed doors? But they want to keep you talking about it so that you stay focused on them and not the life you were supposed to live. It’s psychopatic manipulation 101. The longer you buy into the idea that politics is real and coming to save you, you are prolonging the agony for everyone. No (s)elected politician in the West is working for you. They exist merely to steal your wealth and take away your privacy and freedom. The theatre of politics thrives on dividing people, making them impotent and believing somebody else is going to sort out their lives. There is NO POLITICAL SAVIOUR coming to sort out this mess. Only we can, by being an army of one and living outside of their matrix as much as we can. It’s hard to believe there are still grown men who believe the retarded Trump assassination attempt was real. And they will swallow the next one hook, line and sinker as well. These same tools believe Pallywood is real, they are watching real bombs and not fireworks in Gaza and that the Pally flag cause is not funded by Mossad. When we are dealing with this level of wilful ignorance at this late stage, it’s hard to see a way back for them. It’s as if they can’t let go and face the reality that they have been fooled and lied to for years. It’s a form of deep Stockholm Syndrome aka Trauma-Bonded Mind Control. Their lack of confidence and humility is what keeps them clinging to the lie. As I have said relentlessly, anything that goes viral on the fakestream media, as this Epstein larp has done, is scripted and being used to manipulate you. The same people who pull Trumpstein’s strings pull the media’s strings and tell them what to write. When you turn to them for the latest updates on the psyop, you are feeding them instead of making them redundant letting them go out of business. The so-called alternative media are as bad if not worse and funded by the same Jewish pockets. If you take anything from this, take the following: Politics is fake. There is no left or right. There is no political saviour. The media are lying to you night and day. Walk away and stop believing in a fiction designed to weigh you down and wear you out. If you hear anyone in your ‘alternative truther media’ discussing the Esptein farce as if it is real, know that you are being scammed.

Overall, then, the stock market stands at the highest level of valuations in U.S. history, easily eclipsing the extremes of 1929 and 2000.

 

"It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so." 

Mark Twain

When desire disagrees with judgment, there is a disease of the mind: and to make a man forget the past, and blind him to the future, is as easy as making him drunk. The impression of invincibility is disaster itself. The stronger the illusion, the greater the fall.”

– Barbara Tuchman, The March of Folly

The Impression of Invincibility

John P. Hussman, Ph.D.
President, Hussman Investment Trust

July 20, 2025

With our most reliable stock market valuation measures at the highest extremes in U.S. history, record negative readings on our most reliable “equity risk premium” gauge (estimated S&P 500 total returns vs. Treasury yields), and the narrowest junk bond risk premiums in history, it’s useful for investors to remember that a market crash is nothing but risk-aversion meeting a market that is not priced to tolerate risk.

My impression is that the exuberance of the moment is too strong for investors to care about history. As is true in every bubble, investors are undoubtedly convinced that we’re in a new era to which history doesn’t apply. Simply observe corporate profit margins, for example, and the fact that they haven’t eroded in years, and it’s natural to imagine that they’ve simply established permanent highs beyond all historical experience.

We’ve had two decades of “free money” – not only fiscal deficits, but monetary policy that – for much of the past decade – funded those deficits by flooding the economy with zero-interest cash, which also significantly reduced corporate interest costs. That’s where the record profits have come from. It’s not a theory. It’s an accounting identity.

Remember also that despite the emergence of the internet, smart phones, networking, cloud computing, and countless other technological breakthroughs in recent decades, S&P 500 revenues, corporate profits, and GDP have grown slower, not faster, than in the decades prior to 2000. We forget. In the exuberance of this moment, the S&P 500 information technology index is priced at valuations that embed, and now require, a permanently high plateau in profit margins and growth rates.

Sentiment Changes

 Blind Man’s

Bluff!

Are we in a new era of unstoppable security prices??

Or

Another history making bubble??

Sentiment Changes

Smart Money - Buys Aggressively!

Capitulation

Despondency

Max-Pessimism 

Depression 

Hope - Silver F

Relief *Market returns to Mean  - Short Term Notes & Bills or MMF

Smart Money - Buys the Dips!

Optimism - Swiss Treasury Securities  

Media Attention - Gold

Enthusiasm

Smart Money - Sells the Rallies!

Thrill

Greed

Delusional

Max-Optimism  Residential Real Estate   - Stocks -BitCoin 

Denial of Problem  

Anxiety 

Fear

Desperation - Long Term Bonds

Current Economic Conditions

Prosperity - Moderate

Recession - Shallow

Deflation - None

Inflation - Moderate

Economic Choices

None

Shallow

Moderate

Prominent

Extreme 

 The High-Tech

Market Distortion

Waiting for the Year 2000 Market Redo!!

The top 10 companies in the S&P 500, as measured by market capitalization, represent approximately 38% of the index's total market capitalization.  This indicates a high degree of concentration within the index, as a relatively small number of companies account for a significant portion of its overall value.

NVIDIA (NVDA): $4.022 trillion.

Microsoft (MSFT): $3.740 trillion.

Apple (AAPL): $3.153 trillion.

Amazon (AMZN): $2.388 trillion.

Alphabet (Google) (GOOG): $2.192 trillion.

Meta Platforms (Facebook) (META): $1.804 trillion.

Broadcom (AVGO): $1.290 trillion.

Berkshire Hathaway (BRK-B): $1.026 trillion

Tesla (TSLA): $1.009 trillion.

JPMorgan Chase (JPM): $797.20 billion.

 

Inflation

Stocks versus Bonds

Has the inflation dragon retired to his cave with the latest annualized 2.7% increase?  So far the long end of the debt market hasn’t thrown in the towel with the bell weather 30 year Treasury bond breaking the current yield level of 5%.  Worries are abounding with inflation determined to remain along with budget deficits massively growing as far as the eye can see.   

If history is any guide the first sign of trouble in the equity markets the Federal Reserve will turn back into doves creating a floor instead of ceiling of 5% for the 30 Treasury bond.

What does all of this mean for long term investors??

DYI’s Earnings Yield Coverage Ratio - [EYC Ratio] as the stock market is close to my crash alert level under 0.50!  Today 7-16-2025 the Shiller PE stands at 38.03 and Vanguard’s Long-Term Investment-Grade Fund at 5.48% pushing the EYC Ratio to 0.53 any number below 0.50 it is a high probability bonds out performing stocks.

The S&P 500 index with its tiny dividend yield at 1.24% as compared to Vanguard’s Long-Term Investment Grade fund at 5.48% is a 342% difference in yield.  Shiller PE at 38 investors is not just expecting but demanding earnings growth way beyond anytime in history to maintain the expansion of equity prices.

Bottom line:  Long-Term high grade corporate bonds (reinvesting the interest) bought today go to sleep like Rip Van Winkle waking 10 years it is likely to outperform the S&P 500.  When DYI’s EYC Ratio drops below 0.50 (low 0.40 level) your probability is so high of outperformance the expression is “shooting fish in a barrel!”      

 Stocks

Remain Vastly

Overvalued! 

 2006

Do Over?

Overpriced & Overbuilt!!

 

The (Declining) Status of the US Dollar as Global Reserve Currency: Central Banks Diversify into other Currencies & Gold

by Wolf Richter • Jul 9, 2025 

The dollar’s status as dominant foreign exchange-reserve currency has been diminishing for years as central banks have been diversifying to other currencies and over the past three years massively into gold. The decline of the dollar has been slow and halting, a couple of steps forward, one step back, sometimes bigger steps, other times smaller steps, and it remains by far the dominant global reserve currency. But the long-term trend is clear – and this has significant long-term consequences for the US.

The share of USD-denominated foreign exchange reserves declined to 57.7% of total foreign exchange reserves in Q1, according to IMF’s data today. In Q3 2024, the dollar’s share had dropped to a 30-year low.

Why is the dollar’s status as global reserve currency important?

Central banks other than the Fed have purchased $6.7 trillion in dollar-denominated financial assets, largely US Treasury securities. This money flow into the US has helped the US fund its twin deficits – the huge trade deficit and the even huger budget deficit – and thereby has enabled the US to incur those two deficits.

The dollar status as the dominant reserve currency has been crucial for the US, it has enabled the US to live beyond its means. As that dominance declines slowly — two steps forward, one step back — all kinds of risks pile up ever so slowly, including the sustainability of the government deficits and the debt.

Charles Smith SubStack click HERE 

DYI:  Our debt pile up.  1st gear 1980; 2nd gear 2000; 3rd gear 2009; 4th gear 2020.

When the next recession hits will the Fed's push the panic button and push inflation into overdrive?  So far history says yes they will driving the U.S. economy back into the 20 year inflationary cycle of 1965 to 1985.  The current ploy for individual investors is not the return on your principal but the return of your principal after inflation!

I've added to my sentiment indicators Swiss Treasury Securities as another possible safe haven from the long term effects of U.S. inflation.

  Smart Money - Buys Aggressively!

Capitulation

Despondency

Max-Pessimism 

Depression 

Hope - Silver F

Relief *Market returns to Mean  - Short Term Notes & Bills or MMF

Smart Money - Buys the Dips!

Optimism - Swiss Treasury Securities  

Media Attention - Gold

Enthusiasm

Smart Money - Sells the Rallies!

Thrill

Greed

Delusional

Max-Optimism  Residential Real Estate   - Stocks -BitCoin 

Denial of Problem  

Anxiety 

Fear

Desperation - Long Term Bonds

Current Economic Conditions

Prosperity - Moderate

Recession - Shallow

Deflation - None

Inflation - Moderate

Economic Choices

None

Shallow

Moderate

Prominent

Extreme 

   

 Kennedy gutted FOIA offices months ago. Gee, I wonder why.

This lying scam artist now wants to see every American wearing a “wearable” aka “injectable” within 4 years and promotes the CDC’s quackcine schedule that he knows perfectly well is not safe and knows or ought to know is not needed.

RFK Jr. & HHS: still searching for records to support their measles & covid narratives

Christine Massey FOIs Jun 27 2025 Greetings and Best Wishes, Two and a half months after ordering (pgs 1/2), not "requesting”, all studies in the possession, custody or control of Robert F. Kennedy Jr. and/or the U.S. Department of Health and Human Services Office of the Secretary, authored by anyone, anywhere, ever: 1. - that scientifically prove/provide evidence of the existence of the alleged measles virus or SARS-COV-2, or 2. - that at least describe the purification of particles that are alleged to be either of said alleged viruses directly from bodily fluid/tissue/excrement of so-called "hosts", or 3. - wherein the purported "genome" of either alleged virus was found intact in the bodily fluid/tissue/excrement of a "host" (as opposed to fabricated in silico aka computer modelled), or 4. - that scientifically demonstrate contagion of the illness / symptoms that are alleged to be caused by either alleged virus, or 5. - wherein the accuracy of any test alleged to relate to either alleged virus was assessed in a valid manner, or 6. - wherein "measles" or "covid-19" was shown to be a distinct illness that can be clearly differentiated from other health conditions... ...a letter dated today, June 27, 2025, from Arianne M. Perkins acting as Director, Initial FOIA Requests, FOI/Privacy Acts Division (HHS Case No: 2025-100066-FOIA-OS, pg 4/5) states that: "The actual time needed to process your request will depend.... Our current workload is approximately 7000 cases." Kennedy gutted FOIA offices months ago. Gee, I wonder why. This lying scam artist now wants to see every American wearing a “wearable” aka “injectable” within 4 years and promotes the CDC’s quackcine schedule that he knows perfectly well is not safe and knows or ought to know is not needed. Life in prison. (Note: this information has been sent to ~200 people who work for “the state”, lamestream media, etc. at Canada, Isle of Man, England and the U.S., so that they cannot claim later that they did not know. It will also be sent to people who act in the Canadian “justice” system… that has falsely prosecuted people in relation to “germs”.) If you would like to support my efforts, please see the Paypal button that is near the bottom of my homepage. Recommended Germ/Contagion Reading/Viewing Who Holds the Real Power at HHS? - Kate Sugak Antibodies: Dr. Tom Cowan and Stefano Scoglio (R.I.P.) On The Fallacious Underpinnings Of Mainstream Antibody Theory Dr. Stefan Lanka on “Antibodies” and “Viruses”, part 3 - in DSalud Beyond the Hype: Real ID’s True Purpose Revealed - Dr. Andrew Kaufman Placebo vs Nocebo: The Battle for Your Body - Dr Sam Bailey The Syphilis Scam Part 3: Imitation Game - Mike Stone, viroLIEgy Dr. Tom Cowan highlights the illogic of virology by addressing recent critiques of the no-virus position Assisted Dying Part 3: A Real Palliative Care System? - Dawn Lester Why doctors HAVE TO SAY viruses exist - Jon Rappoport First Do Harm: The Hidden Epidemic of Doctor-Induced Deaths Iatrogenic Medical Death is the Top Killer in the World - Amandha Vollmer The “Virus” Deception: Case Studies in Pseudoscience - Part 1: The “Lipovirus” - Mike Stone, viroLIEgy Are Viruses a Scam? - Mark Gober on The Courage Contagion MSM’s Obsession with Me Continues... and it is Waking People Up to the Virus Hoax - Dr Sam Bailey Mike Wallach and the viral delusion on Conversations After Dark Lupus Unmasked: How the Medical Label Hides the Real Imbalance - Dr. Marizelle From Vaccine to  Paralysis - Kate Sugak Dawn of Discernment - Critical Thinking & Logic. Conversation with Dr Jordan Grant, Dawn Lester Official FOI Confessions/Evidence Confirm that Virology is Pseudoscience My notarized affidavit regarding the hundreds of freedom of information responses (FOIs) confirming the fraud and delusion of virology, with German and Greek translations: https://www.fluoridefreepeel.ca/affidavit-re-foi-and-fraud-and-delusion-of-virology Also at tinyurl.com/virus-affidavit Freedom of Information Responses reveal that health/science institutions around the world (225 and counting!) have no record of SARS-COV-2 (the alleged convid virus) isolation/purification, anywhere, ever: https://www.fluoridefreepeel.ca/fois-reveal-that-health-science-institutions-around-the-world-have-no-record-of-sars-cov-2-isolation-purification/ Excel file listing 225 institutions: https://www.fluoridefreepeel.ca/wp-content/uploads/2024/09/Institution-list-for-website.xlsx FOI responses re other imaginary “viruses” (HIV, avian influenza, HPV, influenza, measles, etc., etc., etc.): https://www.fluoridefreepeel.ca/fois-reveal-that-health-science-institutions-have-no-record-of-any-virus-having-been-isolated-purified-virology-isnt-a-science/ FOIs re secretive and unscientifically "mock infected" cells (aka invalid controls) and computer-model "viral genomes": https://www.fluoridefreepeel.ca/do-virologists-perform-valid-control-experiments-is-virology-a-science/ 3000+ pages of "virus" FOIs in 8 compilation pdfs: https://tinyurl.com/IsolationFOIs Failed freedom of Information responses re contagion: https://www.fluoridefreepeel.ca/freedom-of-information-responses-re-contagion/ Do health and science institutions have studies proving that bacteria CAUSE disease? https://www.fluoridefreepeel.ca/do-health-authorities-have-studies-proving-that-bacteria-cause-disease-lets-find-out-via-freedom-of-information/ Because "they" (HIV, influenza virus, HPV, measles virus, etc., etc., etc.) have never been shown to exist, clearly don't exist and virology isn't a science. For truth, freedom and sanity, Christine