Crypto News Daily

@texasrunnerDFW Housing bubble would only occur with massive job loss where people would lose their homes as they couldn’t pay their mortgage. Supply is too low as interest rates prevent people from moving into new homes

For two years I’ve maintained the USA 🇺🇸 is in a speculative housing bubble and home prices in many parts of the country are headed for a serious correction Is there anything that keeps me up at night regarding this assertion? Yes. California. California is a perfect case study, or proof of concept, that a specific combination of monetary and political policy CAN and WILL artificially inflate home prices to a point where they remain completely detached from local median income levels—and those affordability metrics, frankly, cease to be relevant Now, I have reasons as to why I think the CA model doesn’t *quite* work in most of our country, especially in states with ample land to build on and different business and property tax laws And it’s possible the CA model implodes on itself as demographics shift, the tech industry evolves (or devolves), unemployment rises, crime worsens, or climate change rears its ugly head But for the last 20+ years, California has served as a single state model dystopia of an America where homes are not priced even remotely based on what local family incomes can afford to mortgage This model places an undue burden on younger generations who simply haven’t had a chance to buy property yet. And it will place an even larger burden on those whose parents never owned property This is not what I want for my children and their peers, even though my own kids may very well be on the property owner side. No one with a soul should want homeownership to look like this

Permanent job losses in the US are now rising at recession-like rates. The number of people reporting permeant job losses was down 50% in 2022. Now, it's at 20% and quickly rising as shown below. Permanent job losses are rising at the same pace seen in 2007. Meanwhile, jobs reports continue to crush expectations and a record 447,000 Americans hold 2 full time jobs. What's happening in the labor market?

@HeavenScent88 Said Every dictator ever

"Breaking: Biden has ordered the FBI to make unannounced 'knock and talk' home visits to over 100,000 Trump supporters nationwide." The FBI agents say, 'You haven't done anything wrong yet, we just want to talk.. "Is this the beginning of Tyranny through voter intimidation?"

@Travis_in_Flint Not sure who you hang out with but this has been talked about for months not at this point. FYI we already have the draft it’s called “selective service”. Just need to activate it

BREAKING NEWS 🚨 Michael Saylor says a spot #Bitcoin ETF will 10 x to 100 x the price of Bitcoin. That’s $270k to $2.7M per bitcoin.

For those keeping track, US debt just jumped by another $40 billion in one day. We are now at $33.55 trillion in Federal debt, just 25 days after it hit a record $33 trillion. At the current pace, the US would add $1 trillion in Federal debt every 45 days. Since 2008, the US has added $24 trillion in Federal debt, rising to 3.8x what it was in January 2008. Total US debt is now officially up more than $2 trillion since the debt ceiling crisis "ended." But, under the new bill, the debt ceiling is effectively uncapped until January 2025. How high will US debt be in January 2025?

US crude oil production just soared to a new record high of 13.2 million barrels per day. To put this in perspective, the US was producing 12 million barrels per day at the start of 2023. That's a 10% increase in production year-to-date alone. We are finally seeing higher production levels than the previous high of 13.1 million barrels per day pre-pandemic. Is more US production the solution to the current energy situation?

@BillAckman Don't forget that the Biden administration just gave Iran, Hamas' principal backers, $6B.

@mmpadellan POTUS, White House and his personal accounts constantly attack Republicans. Doesn’t seem very unifying to me.

After his remarks on the incredible 336,000 jobs added in the Jobs Report, a reporter just asked President Biden how does he feel about the possibility of Jim Jordan as Speaker. First, he laughed. 😁 And then he answered, "Whomever is the Speaker, I'm going to try to work with. They control half of the Congress. I'm sure some folks will be easier to work with than others." Grown ups like President Biden can easily put their differences aside for the good of the American people. #DemocratsDeliverNewJobs

This is incredible: Orange Juice prices are rising so fast they just hit their limit-up threshold and were halted. Since the 2020 low, the price of orange juice is up a massive 315%. This year alone, orange juice prices have jumped by 105%. Meanwhile, Live Cattle prices are up 125% since 2020 and Olive Oil prices are up 130% since last year. What does it mean when food prices outperform hedge funds?

The Reverse Repo facility has seen $1 trillion drain out in just the last 6 months What happens when it runs out? Its important to remember what this account is for, and where this money came from in the first place 🧵👇🏼 When all the money printing started in 2020, this account was not in use. But the money printing flooded the banking system with deposits. Whenever a dollar is spent, it goes from one bank account to another. When a dollar is in a bank account, it is a liability for the bank. They “owe” this dollar back to you, and it costs them money to hold it. They have to do something to make money with it. So they buy an asset so that they have an asset to offset their liability. From March 2020-March 2021, banks didn’t have to worry about this. They were not required to offset these liabilities. But starting in April 2021, that temporary suspension was lifted, and they had to get assets again. If banks had gone out to buy up assets with these trillions of dollars, it would have pushed short term rates negative. There would have been too much demand and not enough supply for short term government debt. So the Fed opened up the reverse repurchase facility so that banks could get their collateral straight from them instead of the open market. The fed knew they would have to make the facility attractive enough, or else there would be no reason to use it. So they started offering a yield on any cash that came in: 0.05% higher than the bottom end of the fed funds rate. Just enough to make it enticing. So banks got the collateral they needed and also got a tiny percentage paid on their cash straight from the fed. As inflation fears roared, the fed started aggressively raising interest rates. But there were still trillions of dollars from the money printing that needed to be kept out of circulation. So the fed had to keep raising rates on the reverse repo facility as well. This kept a floor under short term rates so that it would only leave for a sufficiently higher yield. We are now seeing that play out. Government borrowing has accelerated so rapidly, that short term yields are now attractive enough for cash to leave the safe haven of the risk-free fed reverse repo, and get lent to the government instead The more the government borrows at the short end of the curve, the more cash will leave the reverse repo facility. And once it’s empty, the government will need a new slush fund to borrow from. At about $1.3 trillion left in the facility, it may seem like this is a long way off. But just 6 months ago in April, this facility had $2.3 trillion in it. So we’ve seen $1 trillion leave this facility in the last 6 months, and there is only $1.3 trillion left. And government borrowing is accelerating. There will be many unexpected consequences of this acceleration in this out of control deficit spending, but one consequence is very predictable. Much, much higher rates.

@Voice4Unity @jeransom33 @Lawanjr1 @OccupyDemocrats How many convictions? If someone accused you of murder but you didn’t do it. Went to court for it and then was found not guilty. Would everyone still be entitled to call you a murderer? It’s why in this country you are innocent until proven guilty.

BREAKING: Donald Trump is humiliated to his face by the judge overseeing today’s New York fraud trial as the judge destroys Trump’s claims that the judge has “dismissed 80 percent” of his case against him due to the statute of limitations. The judge told Trump to his face that he ALREADY lost the case, — and then put him on notice that Every use of a false financial statements in business starts the statute of limitations running again” — and that New York Attorney General Letitia James “is not suing” Trump “on the underlying transactions, but on the financial statements that referenced them, which occurred after 2014.” The judge declared, “Every use of a false financial statements in business starts the statute of limitations running again. I understand that you strongly disagree with this and will appeal on those grounds… that’s what we have appeals for.” Well played, Judge Engoron! Trump tried to tell reporters yesterday that Judge Engoron had thrown out most of his case — and Judge Engoron put him in his place today right to his face — and in front of the entire country. Please retweet and ❤️ to thank Judge Engoron for setting Trump straight — and consider joining the growing exodus to Tribel, a woke new Twitter competitor that banned Trump for life and is exploding in popularity because Elon Musk banned Tribel’s Twitter account — but he forgot to ban this link to download the new Tribel app: tribel.app.link/okwPIHYCIqb

@mmpadellan It was your party trying to shut it down to fund the Ukraine. wsj.com/politics/polic…

Freeze the salaries and bank accounts of every member of Congress who votes to shut down the government. Political terrorism should NOT be profitable.

@mmpadellan @DefiantLs Didn’t take long. In this article, investigation shows the Democrats where holding out on passing to ensure we kept funding the Ukraine. What do you have to say about that? wsj.com/politics/polic…

@mmpadellan @DefiantLs here is a great one to screenshot because un a few years Brooklyn will flip when the democrats are voting to shut down the government. Swear this man runs purely on emotion.

@JoeBiden You were supposed to be a foundation for unification of our country. If Congress is split this badly then you did a poor job in leading.

Funding the government is one of the most basic fundamental responsibilities of Congress. If Republicans in the House don’t start doing their job, we should stop electing them.

@POTUS Don’t worry guys, billions of taxpayer dollars will still be flowing to Ukraine!

@AaronParnas In other words he makes it less affordable for people to acquire and train properly with weapons to legally defend themselves. This only affects lower and middle class. Not the rich. Crime will increase further in the coming years from this shortsighted action.

Democrats deliver, it’s as simple as that.

@AaronParnas School shootings have gone up dramatically after banning guns from schools. Because murders don’t follow the law and lawful people do.

Democrats protect children. Republicans protect guns. Vote blue.

@KobeissiLetter You mean they are going to do rate cuts improving the economy just enough for the elections?

JUST IN: Fed fund futures now pricing-in rate CUTS beginning in July 2024. We briefly saw rate cuts not beginning until September 2024 according to futures after the Fed meeting. Meanwhile, odds of another rate HIKE this year are up to 44% and rising. Regardless of whether the Fed hikes again or not, one thing is clear. Higher rates are here to stay.