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PERRIN LOVETT

Category Archives: News and Notes

Updates, new commentary, announcements, and more. Enjoy!

The Math Gets Harder

13 Friday Dec 2019

Posted by perrinlovett in News and Notes

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Federal Reserve, Repo Bucks!, sorcery

It’s so hard to keep up with QE Infinity at this point.

In other words, instead of QE4 the Fed will flood the repo market with a firehose of liquidity.

Here is how Curvature’s Skyrm summarized this:

One word: “Massive”. A few more words: The largest series of RP operations ever! The Fed announced it’s RP operations schedule for the next few weeks and it’s huge!

Here are my calculations:

There are two existing $25 billion term operations over the Turn already in the market totaling $50 billion

The Fed committed to at least a $150 billion overnight operation on year-end

A REG-start year-end operation on the day before year-end of $75 billion

Between now and year-end a total of 6 term RP operations totaling $225 billion

All total, I count the Fed committed to pump $500 billion in the Repo market over year-end. Naturally, the Turn (12/31-1/2) rallied a bit today. Trading from 4.25% yesterday to 3.80% today

A firehose is generally reserved for a fire. In other news, those main excuses for this, about taxes and treasury swaps, appear to be falling apart.

The Man Behind the (Market) Curtain

12 Thursday Dec 2019

Posted by perrinlovett in News and Notes

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economics, Federal Reserve, Jerome Powell, sorcery

The Sorceror in Chief is propping up the markets. No, really.

Powell’s presentation marked a heel turn from earlier this year. Stocks tanked in July after Powell described the Fed’s first interest rate cut in a decade as a “mid-cycle adjustment,” because investors interpreted the remark as a signal the relief monetary policymakers were providing was only temporary. Now, however, “the cuts look much more permanent,” Grant Thornton chief economist Diane Swonk wrote in a note. “The vote to hold rates unchanged was unanimous, the first time that all agreed on what the Fed should be doing since May 2019.”

And 13 of the 17 members of the Fed officials setting policy indicated they expect the borrowing rate to remain untouched next year, while four projected one hike. As recently as September, nine of the policymakers projected at least one rate hike next year.

Investors had largely priced in the Fed’s decision to hold rates steady, but stocks rallied modestly on Powell’s post-meeting comments. Major indexes snapped a two-day losing streak, with the S&P 500 closing up 0.29 percent and the Dow Jones industrial average climbing 0.11% on the day.

“Markets liked Mr. Powell’s assertion that he would want to see a ‘significant’ and ‘persistent’ increase in inflation before he would want to raise rates, and he again drew attention to the undershoot to the target in recent years,” Pantheon Macroeconomics chief economist Ian Sheperdson wrote in a note. “Mr. Powell’s view is not shared by all his colleagues, given that most of them expect rates to rise slightly over the next three years while core inflation is expected to be little changed. But markets put much more weight on the views of the Chair; that’s probably the right approach.”

Bubbe is as bubble does.

Christmas Presents – from TPC

10 Tuesday Dec 2019

Posted by perrinlovett in News and Notes

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Christmas, culture, toys, TPC

Alternatives to the Old Lump of Coal in the Stocking

 

Do people still do that? Give naughty children coal in their Christmas stockings? I suppose, with all we’ve learned this year from Alexandria O’ Communist and Greta the Human Shield, that it’s best to give renewable, eco-friendly truancy deterrents. How about a puff of solar wind for the not-so-nice kids? We allegedly have quite a few of them.

 

Shortly before shooting up an Air Force training school in Pensacola, Florida last week, Saudi al-CIA-da terrorist Mohammed al-Shamrani Tweeted “I’m against evil, and America as a whole has turned into a nation of evil.” He added, “I’m not against you for just being American, I don’t hate you because your freedoms, I hate you because every day you supporting, funding and committing crimes not only against Muslims but also humanity.” He then murdered three people and wounded eight others. Six other Saudi “students” have been arrested in connection with the attack. There is, at this time, no word on any dancing Israelis nor structural irregularities at the new 2 World Trade Center.

 

First, what is it with Saudis and flight schools?! I mean, maybe it’s not a good idea to allow foreign terrorists into the country, let alone into gun-free crime zones. Just a crazy idea. Second, something is nagging at me that maybe Mohammed had a point.

 

There is a credible argument that the United States Empire is a global force for evil and is inhabited by the descendants of Sodom and Gomorrah. Forget the ongoing clown shows under the Capitol Dome and at 1600 – those, I fear, are mere circus sideshow distractions. Under the big tent we have, just to identify a very few:

 

  • Big Usury flooding $4 Trillion (that, by their dubious count; the truth is likely closer to $10 Trillion) into the grabbler banks – this fall(!);
  • Full employment via part-time jobs that provide far less buying power than Americans enjoyed fifty years ago;
  • War, war, and more war;
  • A never-ending hoard of NOT-Americans flooding in with one hand expectantly extended and a Glock in the other (see above);
  • Small children “performing” for dollars at sodomite and drag clubs while the police and CPS sit and watch;
  • Soaring obesity and collapsing intelligence;
  • Face tattoos;
  • CUCK-fil-A.

 

And then, there are the very gifts we give our children. No, I’m not talking about the crushing debt, the budding civil war, or the soul-sucking depression of living in a dead anti-nation. Just ordinary toys and such. 
Michael Snyder, at his so-aptly-named End of the American Dream site, just ran a list of some hot new toys and gifts for the tots. I’ve read and respected Michael’s work for years. He’s a little one-note-ish, but the truth is that the tune never ends. Anyway, he lists a few items that Amerikans are buying for their children this Christmas $eason. There’s a fart launcher. There’s Flushin’ Frenzy, where the tikes battle to keep a piece of plastic shit in the toilet. Shoot the Poop is a similar game, featuring another toilet that eats more plastic shit (fed by the kiddos – a coprophagic first). For the transitioning child or stoned LGB+VPC enthusiast, they have Magical Unicorn Rainbow Poop. (Yes, there’s a Number Two theme this year). Last and most disturbing, is A CHILDREN’S BOOK OF DEMONS by Aaron Leighton. One of the demons, the one on the cover, is Corydon, styled by Leighton as “one funny demon!” As Publisher’s Weekly puts it: “(a riddler named Corydon requires a sigil ‘drawn in bright red, the colour of a clown’s nose—preferably while you’re giggling’).” Does the name Corydon sound familiar? As Socrates and Virgil put it, he’s a child-molesting queer. Giggle!

…

READ MORE AT TPC

Bad News for Baby Killers

09 Monday Dec 2019

Posted by perrinlovett in Legal/Political Columns, News and Notes

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abortion, Kentucky, murder, Supreme Court

If a woman hears the heartbeat, he might be less inclined to kill it. So say The Nine.

The Supreme Court on Monday left in place a Kentucky law, mandating doctors perform ultrasounds and show fetal images to patients before they can perform abortions.

The high court declined, without comment, to hear an appeal brought by the American Civil Liberties Union on behalf of the state’s lone abortion clinic.

The Kentucky law, which requires a doctor to describe an ultrasound in detail while a pregnant woman hears the fetal heartbeat, was passed in 2017.

Don’t like it? Move out of KY. Or, better yet, get out of America!

Short of a Full Accounting

09 Monday Dec 2019

Posted by perrinlovett in News and Notes

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debt, economics, Federal Reserve, lies

Much like the criminal government, the criminal central bank just can’t tell the truth about anything. If they even know what’s going on. With REPO BUCKS! they do not.

Federal Reserve officials have attributed the problem to a rush of corporate tax payments and settlement for an unusually large settlement in Treasury bond auctions.

However, the BIS said that while those two factors help explain some of the problems, they fall short of a full accounting.

“None of these temporary factors can fully explain the exceptional jump in repo rates,” the bank wrote.

Other factors the institution cited include the heavy reliance on the “Big Four” banks for funding, the increased role that hedge funds are playing on the demand side for funding, and the adjustments that market participants are making following an extended period of ample reserves that has changed over the past two years.

…

Fed officials have puzzled over the banks’ unwillingness to lend into the market when the Sept. 17 disruption happened. Discussion has centered around the role that post-financial crisis capital regulations have played as well as the interest the Fed continues to pay on bank reserves.

Such reluctance in the future poses continued threats, the report said.

Puzzling! A total mystery that we will never understand. Ah well, back to the TeeVee. It’s only the economy and whatnot. Sorcery = a puzzle.

Thanks, Devil Mouse, But I Think I’m Good

08 Sunday Dec 2019

Posted by perrinlovett in News and Notes

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Devil Mouse, epilepsy, Star Wars

I had bantered about the idea of seeing The Return of the Jedi Rise of Skywalker with someone; this, in spite of my previous swearing off of SW, Disney, and movies. (She’s a sweetie). But, I think she’ll live without it. I will and healthily.

“Out of an abundance of caution, we recommend that you provide at your venue box office and online, and at other appropriate places where your customers will see it, a notice containing the following information: Star Wars: The Rise of Skywalker contains several sequences with imagery and sustained flashing lights that may affect those who are susceptible to photosensitive epilepsy or have other photosensitivities,” said Disney’s letter, as reported by THR.

The Epilepsy Foundation also issued a statement noting that for about 3 percent of people with epilepsy, exposure to flashing lights at certain intensities or certain visual patterns can trigger seizures. For those who are sensitive to lights, the foundation advised having a friend watch the movie first, who could then accompany and alert which scenes to avert one’s eyes during.

Yes! I have a certain sensitivity to bright lights and dim bulbs. So, I’ll avert my eyes now. Thanks for the alert, DM. Shame that I’ll miss the lavender Wookies or whatever.

The Goose that Laid the “Illegal” Golden Egg

07 Saturday Dec 2019

Posted by perrinlovett in Legal/Political Columns, News and Notes

≈ Comments Off on The Goose that Laid the “Illegal” Golden Egg

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economics, Federal Reserve, gold, Marco Foamio, Miami

We all know that gold is only supposed to flow OUT of America. This doesn’t cut it.

At a U.S. Senate subcommittee hearing Thursday, Sen. Marco Rubio called illegal gold mining in Latin America a “direct threat” to U.S. national security that has become “far more lucrative than drug trafficking” — and noted that billions of dollars worth of the illicit precious metal is entering American consumer markets through Miami.

“There is a major human toll if we do not get control of this problem,” said Rubio, citing a cornucopia of evils unleashed by illegal mining including human trafficking, corruption, disease, mercury poisoning, drug smuggling, widespread deforestation in the Amazon basin and the enrichment of powerful criminal groups and rogue governments like Nicolás Maduro’s regime in Venezuela.

But American consumers are scooping up gold with little awareness of where it comes from or who gets hurt. The metal is used not only by the jewelry industry but also in electronics such as smartphones and tablets. Rubio said 58 percent of imported U.S. gold comes from Latin America. Miami International Airport, the closest U.S. port to Latin America, has long been the nation’s leading gateway of gold.

It’s almost like the people want a gold standard or something. I wonder why? It surely couldn’t be the Fed continuing to flood the world with fiat. Every day, the same headline.

What is it with Saudis and Flight Training?

07 Saturday Dec 2019

Posted by perrinlovett in Legal/Political Columns, News and Notes

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Saudi Arabia, terrorism

Possible links to terrorism. You think?

An aviation student from Saudi Arabia opened fire in a classroom at the Naval Air Station Pensacola on Friday morning, killing three people in an attack the Saudi government quickly condemned and that U.S. officials were investigating for possible links to terrorism.

The assault, which ended when a sheriff’s deputy killed the attacker, was the second fatal shooting at a U.S. Navy base this week and prompted a massive law enforcement response and base lockdown.

I guess we should be grateful this wasn’t the work of the real terrorists, white nationalists. Better ban flight schools.

And Even More Ed Stats

06 Friday Dec 2019

Posted by perrinlovett in News and Notes

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America, China, education, Michael Snyder, stupid

Michael Snyder picks up where Dr. Williams left off – Chinese students are 4 grade-levels ahead of their pitiful Amerikan counterparts. And,

We were once a great light to the rest of the world, but today a large chunk of our population can barely read, write, speak or function in society. Just consider the following numbers…

#1 One recent survey found that 74 percent of Americans don’t even know how many amendments are in the Bill of Rights.

#2 An earlier survey discovered that 37 percent of Americans cannot name a single right protected by the First Amendment.

#3 Shockingly, only 26 percent of Americans can name all three branches of government.

#4 During the 2016 election, more than 40 percent of Americans did not know who was running for vice-president from either of the major parties.

#5 North Carolina is considering passing a law which would “mean only scores lower than 39 percent would qualify for an F grade” in North Carolina public schools.

#6 30 years ago, the United States awarded more high school diplomas than anyone in the world. Today, we have fallen to 36th place.

#7 According to the Pentagon, 71 percent of our young adults are ineligible to serve in the U.S. military because they are either too dumb, too fat or have a criminal background.

#8 For the very first time, Americans are more likely to die from an opioid overdose than they are in a car accident.

#9 One study discovered that one-third of all American teenagers haven’t read a single book in the past year.

#10 A recent survey found that 45 percent of U.S. teenagers are online “almost constantly”.

#11 Today, the average American spends 86 hours a month using a smartphone.

#12 Overall, the average U.S. adult “logs 6 hours, 43 minutes of total screen time daily”.

#13 In more than half of all U.S. states, the highest paid public employee in the state is a football coach.

#14 During one seven day period last summer, a total of 16,000 official complaints about human feces were submitted to the city of San Francisco. And apparently the problem is very real because one investigation found 300 piles of human feces on the streets of downtown San Francisco.

#15 Every 24 hours, more than a third of all Americans eat fast food.

#16 Less than half of all Americans know which country used atomic bombs at the end of World War II.

#17 Even though we fought a war in Iraq for eight long years, 6 out of 10 young adults cannot find Iraq on a map of the Middle East. And that same survey found that 75 percent of our young adults cannot locate Israel.

#18 Today, the average college freshman in the United States reads at a 7th grade level.

Are you convinced yet?

As a society, we have become exceedingly “dumbed down”, and we can even see this at the highest levels of our government. Just take a look at some of the people we have representing us in Congress. If George Washington, John Adams and Thomas Jefferson were alive today, what do you think that they would make of our current crop of politicians?

When our founders spoke, their language was so elegant. But of course we couldn’t have politicians speak to us that way today because nobody would be able to understand what they were saying.

Our society is literally in a death spiral, but nobody seems to have a way to stop it.

Educating our children properly is one of the most basic things that needs to be addressed, but unfortunately the left has total control of our public schools now, and that means that there is no hope of a major turnaround any time soon.

In fact, there is no hope of a turnaround, now or later. Only Dr. Ironsides has the solution.

UPDATE: I looked through the cited survey and found it riddled with global-speak. Still, if even the deliberate system’s metrics show a problem, there’s a problem.

“Fly and Drive”

04 Wednesday Dec 2019

Posted by perrinlovett in News and Notes

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BS, flying cars

It does neither. This one is laughable.

The world’s first ‘fly and drive’ car will be unveiled Tuesday night in Miami.

It’s called Pioneer Personal Air Landing Vehicle, or PAL-V.

The car arrived in downtown Miami on Monday and will be unveiled during the pre-grand opening of the art exhibit “Paramount: The Art of Innovation and Design” as part of the 30th annual Miami Art Week.

It will be held at the Paramount Miami World Center which has actually designed a “sky-port” on top of its building for the flying car to land on.

A mock-up of a mock-up of a mockery. 0/10. Sad.

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