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Libertarian Group Sues To Block Biden Student Loan Forgiveness

Libertarian Group Sues To Block Biden Student Loan Forgiveness A California libertarian group has sued the Biden administration over its plan to cancel student debt, calling it an illegal overreach which will end up taxing some Americans whose debt is forgiven. "Congress did not authorize the executive branch to unilaterally cancel student debt," said attorney Caleb Kruckenberg of the Pacific Legal Foundation, which filed the lawsuit - believed to be the first targeting Biden's plan, AP reports. The Sacramento-based legal advocacy group filed the suit in Indiana, which is one of several states that plans to tax those whose debt is canceled by Biden's plan. Kruckenberg says that it's illegal for the executive branch to create such policy "by press release, and without statutory authority." (Meanwhile, Biden is yanking student loan forgiveness for more than 750,000 borrowers who took federal government loans that were issued and managed by private lenders) The suit’s plaintiff is Frank Garrison, described as a public interest attorney who lives in Indiana and is employed by the libertarian group. Garrison is on track to get his student debt erased through a separate federal program for public servants. Although most borrowers will need to apply for Biden’s plan, Garrison and many others in that program will automatically get the relief because the Education Department has their income information on file. -AP Garrison, the plaintiff, says that Biden's plan would automatically cancel up to $20,000 of his debt, which would trigger an "immediate tax liability" owed to the state of Indiana. "Mr. Garrison and millions of others similarly situated in the six relevant states will receive no additional benefit from the cancellation — just a one-time additional penalty," read the suit. Other states which plan to debt forgiven debt under the Biden plan are; Arkansas, California, Minnesota, Mississippi, North Carolina and Wisconsin, unless lawmakers act to change their current laws. When asked how people could opt out of the debt forgiveness, White House press secretary Karine Jean-Pierre, who said 'anyone can opt-out' had no answers, after previously saying that roughly 8 million Americans would automatically receive the debt relief. "The bottom line is this — no one who does not want debt relief will have to get that debt relief," she said. The White House has called the lawsuit "baseless," suggesting that it's nothing more than political opponents who "are trying anything they can to stop this program that will provide needed relief to working families." Biden's plan will cancel $10,000 in federal student debt for those making $125,000 per year or less, and $250,000 per household. Pell Grant recipients are set to receive an additional $10,000 benefit.  Conservative groups have called Biden's plan legally questionable, and point out that the debt forgiveness unfairly cancels student debt at the expense of Americans who didn't attend college - or paid off their loans. The Biden administration has repeatedly argued that the plan is on solid legal ground. In its legal justification for debt cancellation, the Biden administration invoked the HEROES Act of 2003, which aimed to provide help to members of the military. The law gives the administration “sweeping authority” to reduce or eliminate student debt during a national emergency, the Justice Department said in an August legal opinion. Education Secretary Miguel Cardona has said he has the legal authority to cancel debt for people who faced hardship during the pandemic. Cardona says Biden’s plan will ensure borrowers aren’t worse off after the pandemic than they were before. -AP "Nothing about loan cancellation is lawful or appropriate," reads the lawsuit. "In an end-run around Congress, the administration threatens to enact a profound and transformational policy that will have untold economic impacts." Tyler Durden Fri, 09/30/2022 - 19:20.....»»

Category: blogSource: ZEROHEDGE42 min. ago Related News

Progressive "De-Prosecutors" Disrupt Criminal Justice System, Experts Say

Progressive 'De-Prosecutors' Disrupt Criminal Justice System, Experts Say Authored by Petr Svab via The Epoch Times, A new breed of local prosecutors has taken District Attorney offices around the country by storm in a coordinated campaign that is tearing at the foundations of American justice system. The ideology that underpins their agenda is antagonistic to the traditional conception of criminal justice and, if taken to its logical conclusion, demands its destruction, several experts told The Epoch Times. Such DAs have been variously called “rogue prosecutors,” “de-prosecutors,” or “Soros prosecutors,” based on the fact that progressive billionaire George Soros has prolifically funded their campaigns and support structures. They started to enter the scene around 2014 and have quickly become a major power block, controlling at least 75 DA offices with jurisdiction over one in every five Americans, including half of the country’s 50 most populous cities, according to research by Sean Kennedy, a criminal justice expert at the Maryland Public Policy Institute, a liberty-oriented think tank. “They believe that the criminal justice system is excessively punitive and racially biased and that it is irredeemable,” he said. “And so they’re trying to undermine it from the inside.” The “rogue prosecutor movement” traces its roots back to the “prison abolition movement,” according to Zack Smith, former federal prosecutor who’s been writing extensively on the phenomenon as a legal fellow at the Heritage Foundation, a conservative think tank. “There is actually a movement; it’s a Marxist movement that believes we should abolish prisons in the United States,” he said. “Many members of this movement … bought into the idea that our criminal justice system is systemically racist, that we have a problem with mass incarceration, we arrest too many people, incarcerate too many people. And so because of that, they want to lower prison population and they want to basically make many, many things that have traditionally been crimes either not be crimes or make the punishment for them very minor, like a speeding ticket, civil infraction.” Proponents of this idea, however, must have been aware that it would be very difficult to convince legislators to enshrine such a policy in law, Smith suspected. “What is very clever about what George Soros and others figured out is, rather than doing the hard work of getting the legislature to actually change the laws, decriminalize certain things, … they figured out they can elect District Attorneys to office,” he said. “And if the DA won’t prosecute crimes, they won’t seek sentencing enhancements. It doesn’t matter how many arrests the police make, the criminal won’t be held accountable.” The most common tactics of the DAs include establishing policies to not prosecute entire segments of crimes, such as theft under a certain threshold and non-violent offenses more broadly, as well as undercharge crimes to avoid mandatory minimum sentences. They also tend to avoid charges that would lead to “immigration consequences,” meaning serious charges that could trigger deportation of a criminal alien, according to Kennedy. “Victims are particularly ignored and disregarded by these offices,” he noted. Efforts of the DAs are sometimes amplified by state or local legislations that make it more difficult to put a criminal behind bars, such as by preventing judges from setting a bail. Fallout Implementation of the policies tends to coincide with increases in crime, though not necessarily across the board or right away. It appears it sometimes takes some time for criminals to learn the ropes of the new regime. Sooner or later, however, they start to take advantage of it, several experts have pointed out. “The message these individuals are receiving is that there’s not going to be any consequences for their actions. If they’re not going to be held on bail, if they’re not going to be prosecuted, then what’s the incentive for them not to keep repeating the same actions over and over and over again?” Smith said. The policies also tend to demoralize police, who may see their work as pointless if, upon arrest, the suspect is quickly back on the street. “Taking somebody to jail is a hassle because you have to get off your beat, get them in a car, take them down to booking, potentially spend hours filling out paperwork, all for what?” said Thomas Hogan, an adjunct fellow at the conservative Manhattan Institute and former federal prosecutor. Some departments have simply ceased to arrest people for the crimes they know won’t be prosecuted anyway, he said. There are exceptions, though. In New York City, crime has increased but arrests have gone up too. That’s because the NYPD deals with five different DAs, one for each borough, according to Hogan. Manhattan DA Alvin Bragg falls into the Soros-backed ranks, but the other ones are not necessarily onboard with the de-incarceration agenda—or at least not to the same extent. Moreover, the NYPD is large and powerful enough that they “do their own thing,” Hogan said. “NYPD’s response was, ‘You make your decisions what you’re going to do after we arrest them, but we’re going to arrest them anyway,’” he said. To some extent, the influx of Soros-backed DAs has “caught pro-public safety organizations, individuals, and the public off guard,” Kennedy said. “These are very sleepy races. Prosecutor races are low-attention, low-spending, low-on-the-ballot affairs.” Soros, however, went in with duffle bags of money. “It’s just unprecedented the relative amount of money he gives,” Kennedy said. “Giving a million dollars to a local DA candidate, what has occurred here in Northern Virginia, and millions of dollars to Philadelphia and Chicago and New York and Los Angeles … that is unprecedented and almost unfathomable.” Over the past decade, Soros and groups he substantially funds dished out over $40 million in direct spending on DA campaigns, according to a June report by the Law Enforcement Legal Defense Fund (LELDF), a Virginia-based nonprofit, which Kennedy co-authored (pdf). Before any formidable opposition could mobilize, Soros-backed candidates were sweeping up elections left and right. “He caught people off guard because nobody expected anyone to do that,” Kennedy said. ... Countering the progressive DAs is no easy task, according to Kennedy, who’s personally helping with one recall effort in Northern Virginia. “And a lot of the jurisdictions where these prosecutors won, they are very difficult to dislodge because they are liberals in big liberal cities where the Democratic primary is the only game in town and all you have to do is appeal to very liberal Democratic primary voters,” he said. “If you have a lot of money and strong ideology, convincing that narrow subset of voters that your policies are just or working, or [that you] just need more time or whatever, is very easy to do.” Indeed, a number of the Soros-backed DAs have easily sailed through reelections already, though they did so “before crime really got out of control,” Kennedy said. “We will see what happens in the next few years if crime stays elevated, especially in these jurisdictions, if the public gets sick and tired of it.” In recent years, though, there has been some successful resistance to the progressive DAs. In Suffolk County, Massachusetts, a more law-and-order-minded DA won against the Soros-backed candidate in the Democratic primary, de-facto guaranteeing her election. In Baltimore County, a “tough-on-crime” Democrat defeated a Soros-backed challenger, Kennedy said. In Little Rock, Arkansas, a Republican defeated the Soros-backed Democrat for the Pulaski County DA office. On the other hand, Soros-backed candidates won in Portland, Maine, and rebuffed a challenger in Burlington, Vermont, earlier this year. Still, Soros’s success rate has dropped significantly, according to Kennedy. “Finally, the tide is turning where these Soros prosecutors don’t just waltz into office every time they go on the ballot,” he said. “When there’s organized opposition—and a good candidate to be honest—to oppose the Soros prosecutor, then we’re seeing success.” Read more here... Tyler Durden Fri, 09/30/2022 - 19:40.....»»

Category: blogSource: ZEROHEDGE42 min. ago Related News

Canada Has A Food Affordability Problem

Canada Has A Food Affordability Problem Authored by Sylvain Charlebois via The Epoch Times, Did you know that there is a global food security index? The well-known magazine The Economist has just published its 11th edition. The Global Food Security Index comprises a set of indices from more than 120 different countries. Since 2012, the index has been based on four main pillars: food access, safety, sustainable development, and affordability. The approach is quite comprehensive and robust. Index indicators include nutritional standards, urban absorptive capacity, food consumption as a percentage of household expenditure, food loss and waste, protein quality, agricultural import tariffs, dietary diversification, agricultural infrastructure, volatility of agricultural production, public spending on agricultural resource and development, corruption, risks to political stability, and even the sufficiency of supply. In short, anything goes. Finland ranks first this year, followed by Ireland and Norway. Canada is well-positioned compared to other countries around the world since we are ranked seventh globally, the same as last year. Not bad. The United States is 13th. In terms of food access—which measures agricultural production, farm capacities, and the risk of supply disruption—Canada ranks sixth, which is not too surprising. Despite our recent episodes of empty shelves and stockouts, Canada can boast about its food abundance. We produce a lot and are part of a fluid North American economy focused on cross-border trade, which allows for better food access. Another pillar focuses on sustainable development, the environment, and climate adaptability. This pillar assesses a country’s exposure to the impacts of climate change, its sensitivity to risks related to natural resources, food waste management, and how the country adapts to these risks. In this regard, Canada is ranked 29th, far behind Norway and Finland, who are first and second in this category. Food waste remains Canada’s Achilles’ heel, as we waste more than just about anyone else on the planet. But with higher food prices, more than 40 percent of Canadians, according to a recent study, are wasting less than they were 12 months ago. When it comes to food safety and quality, Canada ranks first in the world. Canada is ahead of everyone, even Denmark and the United States, both renowned for their proactive approaches to food safety. Food safety in Canada is perhaps the facet most underappreciated by consumers. Despite a few momentary failures and periodic reminders, sanitation practices in the country are exemplary. Canada has consistently ranked well for years, except perhaps when traceability is measured. We have a long way to go, but the industry and public safety regulators are performing relatively well. But the area where Canada’s performance is of some concern is food affordability. This measure is dedicated to consumers’ ability to purchase food, their vulnerability to price shocks, and the presence of programs and policies to support consumers when shocks occur. Canada fell one spot again this year and sits at 25th in the world. Australia, Singapore, and Holland top the list for affordability. Given the resources and food access we have, Canada should do better. Since July 2021, food inflation has always exceeded general inflation in the country, and everything is already costing more these days. Higher food prices at the grocery store over the past year have been difficult for many of us to accept. Canada needs a food autonomy policy, a more robust food processing sector, and better logistics domestically. And with winter coming and our dollar visibly weakening against the U.S. dollar, we could see significant price jumps again, especially in the produce and non-perishables sections. As wages stagnate and food prices rise, it’s hard to predict when Canada will do better in terms of affordability. Specific fiscal measures such as tax reductions to help consumers would be more than timely. Tyler Durden Fri, 09/30/2022 - 20:25.....»»

Category: blogSource: ZEROHEDGE42 min. ago Related News

"Globalists Are Marching Us Relentlessly Toward Nuclear Armageddon," Warns Former Senator

"Globalists Are Marching Us Relentlessly Toward Nuclear Armageddon," Warns Former Senator Fears of nuclear war are increasing across the West as Russia mobilizes hundreds of thousands of troops and declares annexation of parts of Ukraine. Meanwhile, President Volodymyr Zelensky announced that Ukraine is applying for membership in NATO. These two developments could be the most significant escalation since the war's start.  Today's developments are a sobering reminder that nuclear war threats are mounting. Retired Virginia State Senator and retired Marine Col. Richard Black addressed members of the US Congress in an open letter on Tuesday about "globalists are marching us relentlessly toward this nuclear Armageddon." Black pointed out: There would have been no war had we not overthrown the democratically-elected government of Ukraine by violently ousting President Yanukovych in 2014. We promoted war by flooding Ukraine with massive arms shipments afterwards. The former senator said, "the US could have achieved peace by simply pressing Ukraine to implement the 2014 Minsk Peace Agreements which it had signed, establishing a clear framework for settling outstanding issues peacefully. Ukraine promised to implement the Minsk agreements, but chose instead to make war on the Donbass for the next seven years."  He said NATO could've sought peace but chose war instead.  NATO had ample opportunity for peace but deliberately chose war. The US realized that, with Russia's back to the wall, it would have no choice to but to attack. In 2007, US Ambassador to Russia William Burns pointedly warned that movement toward absorbing Ukraine into NATO might well trigger war between Ukraine and Russia. Nonetheless, the Obama administration overthrew the Ukrainian president and flooded in weapons, knowing that doing so would trigger war. Black said billionaire elites who have an interest in the region are making "war profits even if it means gambling the lives of hundreds of millions of people across the globe."  "Should we annihilate the world's population to intervene in a border war where the US has no vital national interest?" the former senator asked.  Black called for an immediate end to this war by making Ukraine a neutral, non-aligned state, "just as we did during the Cold War with Austria in 1955."  But it appears the former senator's plea to avoid further conflict went unheard after Zelensky's declared intent to apply for expedited NATO membership as President Putin proclaimed the annexation of 15% of Ukraine.  Based on Article 5, any acceptance of Ukraine into NATO would automatically trigger a Russia-West world war (WWIII).  In a speech Friday, Putin said the US created a "precedent" by using nuclear weapons against Japan during WW2.  Last week, Navy Admiral Charles A. Richard - currently serving as the US Strategic Command chief -- warned that "possible direct armed conflict with a nuclear-capable peer" could be ahead.  Here's the former senator's open letter to lawmakers on Capitol Hill: Tyler Durden Fri, 09/30/2022 - 20:50.....»»

Category: blogSource: ZEROHEDGE42 min. ago Related News

Durham Prosecutes FBI Informants, While Protecting Their Handlers: Sperry

Durham Prosecutes FBI Informants, While Protecting Their Handlers: Sperry Authored by Paul Sperry via RealClear Investigations, Since being named special counsel in October 2020, John Durham has investigated or indicted several unscrupulous anti-Trump informants. But he has spared the FBI agents who handled them, raising suspicions he's letting investigators off the hook in his waning investigation of misconduct in the Russiagate probe. In recent court filings, Durham has portrayed the G-men as naive recipients of bad information, tricked into opening improper investigations targeting Donald Trump and obtaining invalid warrants to spy on one of his advisers. But as the cases against the informants have gone to trial, defense lawyers have revealed evidence that cuts against that narrative. FBI investigators look less like guileless victims and more like willing partners in the fraudulent schemes Durham has brought to light. Notwithstanding his reputation as a tough, intrepid prosecutor, Durham has made excuses for the misconduct of FBI agents, providing them a ready-made defense against any possible future prosecution, according to legal experts.  "Durham was supposed to clean up the FBI cesspool, but it doesn't look like he's going to be doing that," said Paul Kamenar, counsel to the National Legal and Policy Center, a Washington watchdog group. "He started with a bang and is ending with a whimper." In the latest example, critics point to a flurry of pretrial motions in Durham's case against former FBI informant Igor Danchenko, the primary source for the false claims regarding Trump and Russia advanced by the opposition research paid for by Hillary Clinton's campaign known as the Steele dossier. Next month, Danchenko faces charges he lied to FBI investigators multiple times about the sourcing of the information in the dossier, which the bureau used to secure wiretap warrants to spy on a former Trump campaign adviser. Relying on Danchenko's reporting, the FBI claimed that the adviser, Carter Page, was a Russian agent at the center of "a well-developed conspiracy of cooperation" between Trump and the Kremlin to steal the 2016 presidential election. Igor Danchenko, dossier fabulist: Trial upcoming. "The defendant was providing them with false information" as part of "a concerted effort to deceive the FBI," Durham alleged in a recent filing with the U.S. District Court in Alexandria, Va., where the trial is scheduled to be held Oct. 11. Had agents known Danchenko made up the allegations, Durham asserted, they might have asked more questions about the dossier and not relied on it to swear out the ultra-invasive Foreign Intelligence Surveillance Act warrants to electronically monitor Page, a U.S. citizen who was never charged with a crime. But Danchenko's legal team points out that he turned over an email to the FBI during a January 2017 meeting with agents and analysts that indicated a key dossier subsource may have been fictionalized. Stuart Sears, one of Danchenko's attorneys, argued earlier this month in a motion to dismiss the charges that investigators "essentially ignored" any concerns they may have had about Danchenko's sourcing, because they continued to renew the FISA warrants based upon it. Therefore, he argued, any lies his client allegedly told them were inconsequential, making them un-prosecutable under federal statutes requiring such false statements to have a "material" impact on a federal proceeding. While Durham did not dispute the FBI's apparent complicity in the fraud, he waved it aside as immaterial to the case at hand. "The fact that the FBI apparently did not identify or address these inconsistencies is of no moment," he said in his filing. At the same time, Durham acknowledged agents allowed the fabrications to contaminate their wiretap warrants – noting they were "an important part of the FISA applications targeting Carter Page." But he stopped short of blaming the FBI, even for incompetence. According to Durham, the nation's premiere law enforcement agency was misled by a serial liar and con man. "He's painting it as though the FBI was duped when the FBI was more than willing to take the initiative and go after Trump," Kamenar said, adding that though Danchenko may have been a liar, he was a useful liar to FBI officials and others in the Justice Department who were pursuing Trump. The special prosecutor's indifference to the FBI's role in the scandal is more remarkable in light of what Danchenko admitted in his January 2017 interviews with the FBI. He told investigators that much of what he reported to Steele was "word-of-mouth and hearsay," while some was cooked up from "conversation that [he] had with friends over beers," according to a declassified FBI summary of the interviews, which took place over three days. He confessed the most salacious allegations were made in "jest." Still, the FBI continued to use Danchenko's claims of a "well-developed conspiracy of cooperation" between Russia and Trump to convince the FISA court to allow investigators to continue to surveil Page, whom the FBI accused of masterminding the conspiracy based on Danchenko's bogus rumors. Agents even swore in FISA court documents reviewed by RealClearInvestigations that Danchenko was "truthful and cooperative." Carter Page, junior Trump campaign aide: Spied on without justification. The combination of Danchenko reporting a "conspiracy" and the FBI vouching for his credibility persuaded the powerful FISA court to continue to authorize wiretapping Page as a suspected Russian agent for almost a year. In addition to collecting his emails and text messages in 2017, agents were able to sweep up all his prior communications with Trump officials from 2016. If the FBI were skeptical of Danchenko, it didn't show it. The next month, the bureau put him on its payroll as a confidential human source, or CHS, making him part of the bureau's untouchable "sources and methods" sanctum and thereby protecting him and any documents referencing him from congressional and other outside scrutiny. It made him a paid informant in spite of knowing Danchenko was a potential Russian spy threat who could be feeding federal agents disinformation. The FBI had previously opened a counterespionage probe of Danchenko from 2009 to 2011, and as his lawyers pointed out in a recent court filing, agents who were part of the case probing Trump/Russia ties, codenamed Crossfire Hurricane, "were well aware of the prior counterintelligence investigation" when they were supposedly conned by their informant. "It stretches credibility to suggest that anything else would have caused the FBI to be more suspicious of Mr. Danchenko's statements and his potential role in spreading disinformation than the very fact that he was previously investigated for possibly engaging in espionage on behalf of Russia," Sears said. "Armed with that knowledge, however, the FBI nevertheless persisted" in using him as a source – while never informing the FISA court of the prior investigation. The FBI didn't terminate Danchenko until October 2020, the month after the Senate declassified documents revealing the FBI had investigated him as a Russian agent. It also happened to be the same month Durham was appointed special counsel. On Oct. 19, 2020, then-Attorney General Bill Barr tapped Durham "to investigate whether any federal official, employee, or any other person or entity violated the law in connection with the intelligence, counter-intelligence, or law-enforcement activities directed at the 2016 presidential campaigns, individuals associated with those campaigns, and individuals associated with the administration of President Donald J. Trump, including but not limited to Crossfire Hurricane and the investigation of Special Counsel Robert S. Mueller, III."  So far, Durham has focused on the "any other person" part of his mandate. Federal officials and employees appear to be getting a pass. Kevin Clinesmith, FBI lawyer: Doctored exculpatory evidence. Though Durham prosecuted former FBI lawyer Kevin Clinesmith in August 2020, when he was acting as a U.S. attorney, he did not initiate the case. Rather, it was referred to him by Justice Department Inspector General Michael Horowitz, who first exposed how Clinesmith had doctored exculpatory evidence in the Page warrant process. Even though Clinesmith admitted forging a CIA email to make it look like Page never helped the agency monitor Russia, when in fact he did and clearly wasn't acting as a Russian agent, Durham failed to put him behind bars. Clinesmith was sentenced to 12 months' probation and 400 hours of community service, which as RCI first reported, the registered Democrat satisfied by researching and editing articles for his favorite liberal weekly newspaper in Washington.  Kamenar said the Clinesmith case was a "bad omen" for how Durham would handle dirty FBI agents. He pointed out that the prosecutor could have charged Clinesmith with the more serious crime of altering a CIA document, but instead negotiated a deal letting him plead to the lesser offense of lying to a government agency, which Kamenar called "a garden variety process crime." And "now he's got his law license back." Clinesmith worked closely on the case with FBI Supervisory Intelligence Analyst Brian Auten, who was singled out by Horowitz in a 2019 report for cutting a number of corners in the dossier verification process and even allowing information he knew to be incorrect slip into the FISA affidavits and mislead the court. Auten met with Danchenko at the bureau's Washington field office and helped debrief him about the dossier in January 2017. And he wrote the official FBI summary of those meetings, which noted Danchenko "contradicted" himself several times. Auten learned firsthand that the information Danchenko passed to Steele was nothing more than bar gossip, and that his "network of subsources" was really just a circle of drinking buddies. Also at those meetings, the analyst received an Aug. 24, 2016, email revealing that Danchenko never actually communicated with Sergei Millian, the Belarusian-born American businessman whom he had identified as his main source of Trump/Russia connections – the all-important, albeit apocryphal, "Source E" and "Source D" of the dossier. It turns out Danchenko attributed the critical "conspiracy of cooperation" allegation the FBI cited as probable cause for all four FISA warrants to this made-up source, meaning the cornerstone evidence of suspected Trump-Russia espionage was also made up. What's more, Auten learned that though Danchenko was born in Russia, he was not based there and had no access to Kremlin insiders. On the contrary, he confirmed that Danchenko had been living in Washington and had previously worked for the Brookings Institution, a Democratic Party think tank whose president at the time was tied to Clinton. Yet Auten and his Crossfire team led the FISA court to believe Danchenko was "Russian-based" – and therefore presumably more credible. They used this same description in all four FISA affidavits, including the two renewals that followed the January 2017 meetings with Danchenko. Internal FBI emails from two months later revealed that Auten knew that using the term "Russian-based" was deceptive. While tasked with helping review Crossfire documents requested by Congress, including FISA applications, he worried about the description and whether it should be corrected. He discussed the matter with Clinesmith. But the falsehood reappeared in subsequent FISA applications. It was also in January 2017 that Danchenko revealed to Auten and his FBI handlers that one of his subsources was his childhood friend Olga Galkina, whom he said supplied him the rumor that former Trump lawyer Michael Cohen traveled to Prague during the campaign to hatch a plot with Kremlin officials to hack Clinton campaign emails.  Michael Cohen, Trump lawyer: Baseless rumor victim. The FBI already knew from intelligence reports that Cohen had not, as the dossier claimed, traveled to Prague to conspire in the alleged Russian hacking of Democrats, or for any other reason. On Jan. 12, 2017, Auten and his Crossfire teammates received a CIA report that warned the Cohen rumor was likely part of a Russian disinformation campaign. The agency had discovered no such Prague meeting took place after querying foreign intelligence services, shooting a major hole in the dossier. The CIA report should have led the Crossfire team to treat any allegations sourced to Galkina with caution. But on the same day, the FBI got its FISA wiretap on Page renewed based on another groundless claim by Galkina – this one alleging the Trump aide secretly met with top Kremlin officials in Moscow to discuss removing U.S. sanctions. The falsehood showed up in two more FISA applications, which alleged "Russia's efforts to influence U.S. policy were likely being coordinated between the RIS [Russian Intelligence Services] and Page, and possibly others." Galkina also had a relationship with Charles Dolan, a Clinton adviser who figures prominently in the Danchenko case Durham is prosecuting. It turns out Dolan was one of the sources for the infamous "pee-tape" allegation about the Kremlin supposedly having blackmail evidence of Trump consorting with prostitutes at the Ritz-Carlton in Moscow, which has been debunked as another dossier hoax. But according to Durham, Danchenko tried to conceal Dolan's role in the dossier from the FBI. The special prosecutor argued that the deception deprived FBI agents and analysts information that would have helped them evaluate "the credibility, reliability and veracity" of the dossier. He said if they had known Dolan was a source, they might have, among other things, sought emails Dolan and Danchenko exchanged exposing their Ritz-Carlton hoax.  "Had the defendant truthfully told the FBI that Dolan played a role in providing certain information for the Steele reports the FBI might well have interviewed and/or collected such emails from Dolan," Durham speculated. In addition, the prosecutor said, investigators might have learned of Dolan's "involvement in Democratic politics" and "potential bias as a source for the Steele reports." Except that they already knew about Dolan and his politics – as well as his involvement in the dossier. It's also likely they already had his emails. In another interview with Danchenko about his dossier sources, which took place June 15, 2017, FBI agents asked Danchenko if he knew Dolan and whether he was "contributing" to the Steele reports. Though Danchenko acknowledged he knew Dolan, he denied he was a source. Agents didn't ask any follow-up questions. (They also never sought to charge him with making false statements to federal agents.) How did the FBI know to ask about Dolan? Because he was well-known to the bureau's Russia counterintelligence agents as a businessman who frequently traveled to Moscow and met with Kremlin insiders. But more importantly, his friend Galkina was under FISA surveillance as a suspected Russian spy at the time, according to declassified records. The FBI was collecting not only Galkina's emails, but also those of Dolan and Danchenko, all of whom regularly communicated in 2016 – which suggests that at the time the FBI asked Danchenko about Dolan, it had access to those emails and was reviewing them. This may explain why, as defense lawyer Sears noted, "the FBI never asked Mr. Danchenko about emails or any other written communications with Dolan" – and why it never interviewed Dolan. While Durham acknowledged that the FBI knew about Dolan's troubling ties at the time and neglected to dig deeper, he said he's not bothered by the oversight. "The fact that the FBI was aware that Dolan maintained some of these relationships and failed to interview Dolan is of no moment," he maintained dismissively in a court filing. All that matters, he suggested, is that the FBI was lied to. One of those emails was particularly alarming. In an Aug. 19, 2016, email to Dolan, Danchenko made it clear he was compiling dirt on Trump and his advisers and sought any rumor, no matter how baseless and scurrilous. He solicited Dolan, specifically, for "any thought, rumor, allegation" on former Trump campaign manager Paul Manafort. Such emails called into question the veracity of the whole dossier and further tainted the credibility of Danchenko's "network of subsources." But on June 29, 2017 – two weeks after the FBI asked about Dolan – the FBI renewed the FISA wiretap on Trump adviser Page based on, once again, the dubious dossier. From its wiretapping of Galkina, moreover, Auten and others at the FBI who sorted through such FISA collections would have seen communications showing her strong support for Hillary Clinton, and how Galkina was expecting political favors in exchange for spreading dirt on Trump. In an August 2016 email to a friend, Galkina expressed hopes that Dolan would help her score a State Department job if Clinton won election. It was a major red flag. But like all the others, the FBI blew right past it. Agents continued to vouch for Danchenko as "truthful" and his subsources as reliable, and continued to cite Galkina's fabrications in FISA renewals. Under FISA rules, the FBI had a duty to "immediately inform" the secret court of any misstatements or omissions, along with any "necessary corrections" of material facts sworn in affidavits for warrants. But the FBI failed to correct the record, even after it became obvious it had told the court falsehoods and hid exculpatory evidence. In August 2017, agents finally got around to interviewing Galkina, who confessed the dossier allegations attributed to her were "exaggerated," according to the Horowitz report.  Scammed by the Alfa Bank Scam? Last year, Durham also painted the FBI as a victim of the 2016 political machinations of two other anti-Trump informants – Michael Sussmann and Rodney Joffe, who conveyed to investigators false rumors about Trump allegedly setting up a secret hotline with the Kremlin through Russia-based Alfa Bank. Michael Sussmann, Clinton lawyer: Acquitted. Durham charged Sussmann, a Washington lawyer who represented the Democratic National Committee and the Clinton campaign, with lying to the FBI's top lawyer James Baker when he told him he was coming in with the tip – outlined in white papers and thumb drives – all on his own and not on behalf of Democrats and Clinton, whom he was billing for the Trump-Alfa "confidential project." "Sussmann's false statement misled the FBI general counsel and other FBI personnel concerning the political nature of his work and deprived the FBI of information that might have permitted it more fully to access and uncover the origins of the relevant data and technical analysis, including the identities and motivations of Sussmann's clients," Durham maintained in the indictment. But evidence emerged at the trial of Sussmann, who was acquitted, that bureau officials already knew the "political nature" of the tip and where the data came from, but withheld the information from field agents so they would continue investigating Trump through the election. For example, in a Sept. 22, 2016, email describing the "special project," an FBI official in Washington stated that "Counsel Baker provided [Supervisory Special Agent] Joe Pientka with 2 thumb drives and identified they were given to him by the DNC." "Everybody at the FBI actually thought the data came from a political party," Sussmann lawyer Sean Berkowitz argued, according to the trial transcript. "The (case) file is littered with references to the DNC." But Durham kept offering explanations for why FBI brass bit on the politically tainted tip, opening a full field investigation based on it.  "Had Sussmann truthfully disclosed that he was representing specific clients [the Clinton campaign], it might have prompted the FBI general counsel to ask Sussmann for the identity of such clients, which, in turn, might have prompted further questions," Durham argued. James Baker, top FBI lawyer: Close friend of Sussmann. "In addition, absent Sussmann's false statement, the FBI might have taken additional or more incremental steps before opening an investigation," he added. "The FBI also might have allocated its resources differently, or more efficiently, and uncovered more complete information about the reliability and provenance of the purported data at issue." Headquarters, however, did know the identity of the clients. Problem was, they blinded agents in Chicago, where a cyber unit was assigned to the case, to the fact that the source for the information was Sussmann and Joffe – a federal cyber-security contractor who was angling for a job in a Clinton administration. (A longtime FBI informant, Joffe was terminated last year after he was exposed as the ringleader of the Alfa Bank scam.) "You were not allowed to speak to either the source of the information, the author of the white paper, or the person who provided the source of the information and the data?" Berkowitz asked Chicago-based FBI agent Curtis Heide during the trial, according to transcripts. "Correct," Heide replied. Another Chicago investigator was led to believe the tip came into the bureau as a referral from the "U.S. Department of Justice." Rodney Joffe, cybersecurity contractor: "Remains a subject." Still, field agents were able to debunk it within two weeks. The FBI was not fooled by the hoax, yet nonetheless went along with it for the next four months. The case wasn't formally closed until Jan. 18, 2017, just two days before Trump was inaugurated. But then it was soon reopened after Clinton operatives again approached the FBI – as well as the CIA – with supposedly new evidence, which also proved false. "Comey and crew kept the hoax alive," former FBI counterintelligence lawyer Mark Wauck said, referring to then-FBI Director James Comey. They welcomed any predication that allowed them to open investigations on Trump, he added. Pientka testified that Comey was "fired up" about the tip, despite the fact nothing had been corroborated. Comey even held senior-level meetings on the Alfa investigation in his 7th floor office. (Pientka, who led the "close-hold" investigation from headquarters, also helped supervise the Crossfire Hurricane probe.) Ironically, no one knew better that Sussmann was a Democratic operative with an agenda than Baker – the official Durham claimed was the direct victim of the scam. Baker, a fellow Democrat, was a close friend of Sussmann, who had his own badge to get past security at the Hoover Building. Sussmann had Baker's personal cell number and Baker cleared his busy schedule to meet with him within hours of Sussmann calling to discuss his tip. Baker was well aware that Sussmann was representing the DNC, because Sussmann entered the building numerous times during the 2016 campaign to talk with top FBI officials about the alleged DNC hack by Russia. In fact, Sussmann had just visited headquarters with a delegation from the DNC on Aug. 12, 2016 – several weeks before he approached Baker with the bogus Alfa tip. They were there to pressure the FBI into concluding Russian intelligence was behind the "hacking" of DNC emails. "I understood he had been affiliated with the Democratic Party, but that he had come representing himself," Baker testified during the trial. Why didn't he tell investigators about Sussmann? "I didn't want to share his name because I didn't want to color the investigation," he said. "I didn't want to color it with politics." In his closing argument, Durham prosecutor Andrew DeFilippis told jurors the FBI's conduct was "not relevant." "Ladies and gentlemen, you've seen that the FBI didn't necessarily do everything right here. They missed opportunities. They made mistakes. They even kept information from themselves," he said. "That is not relevant to your evaluation of the defendant's lie." Judicial Watch President Tom Fitton complained Durham and his team have been acting more like apologists for the FBI than potential prosecutors of the FBI. "The FBI leadership knew full well the Clinton gang was behind the Alfa Bank-Russia smears of Trump," he said. "Durham tried to pretend (the) FBI was a victim (when) it was a co-conspirator." Wauck agreed. "The FBI-as-victim narrative was a bit of a legal fiction that Durham deployed for the purposes of the trial," he said. "The reality that emerged is that the FBI's top management was complicit in the Russia hoax that Sussmann was purveying." Folding Up His Tent Durham was first tasked with looking into the origins of the Russiagate probe in May 2019, before his formal appointment as special counsel in 2020. Trump and Republicans have expressed disappointment that after a total of more than three years of investigation, he has not prosecuted any top former FBI officials, including Comey and Andrew McCabe, who signed some of the FISA affidavits, or Peter Strzok, the biased leader of the Crossfire Hurricane probe who assured McCabe's lawyer in an August 2016 text that "we'll stop" Trump from becoming president. None has received a target letter. In recent months, McCabe and Strzok have gone on CNN, where they work as paid contributors, and smugly bashed Durham for running a "partisan" investigation, while at the same time gloating he's held the FBI up to be more of a victim than a culprit. "Comey and Strzok and McCabe have gotten a free ride out of all this," Kamenar said. James Comey, FBI director: Not prosecuted. Also, Durham went easy on Baker, another top FBI official, even after he held back key evidence from the special prosecutor before the Sussmann trial, a blatant lack of cooperation that may have cost Durham a conviction in the case. Comey's general counsel has received "favorable treatment," Wauck observed. Baker, who reviewed and OK'd the FISA applications, never told Durham about a damning text message he received from Sussmann on his cellphone. Durham had already indicted Sussmann for lying to Baker, and he could not use Sussmann's smoking-gun message – "I'm coming on my own – not on behalf of a client or company" – during the trial to convince jurors he was guilty of lying about representing the Clinton campaign. Legal analysts said it was slam-dunk evidence that would have sealed his case. Baker testified he didn't turn over the text to Durham because no one asked for it. He proved a reluctant witness on the stand against his old pal Sussmann.  Andrew McCabe, deputy director: Not prosecuted "I'm not out to get Michael and this is not my investigation. This is your investigation," he told DeFilippis during questioning. DeFilippis has since stepped down to take a job in the private sector. (Demonstrating the incestuous nature of the Beltway, Baker also happens to be an old friend of Bill Barr, who hired Durham. Barr hired Baker as his deputy when he ran Verizon's legal shop in 2008.) In another sign Durham has not lived up to his billing as an aggressive prosecutor, FBI Director Christopher Wray suggested in recent Senate testimony that Durham's team has not interviewed all of the Crossfire members still employed at the bureau. In lieu of face-to-face interviews, he said Durham's investigators have reviewed transcripts of interviews of the agents previously conducted by the Office of Professional Responsibility, the FBI's in-house disciplinary arm. Recent published reports say Durham is in the process of closing up shop and completing a final report on his findings by the end of the year. Republicans have promised to seize on the report if they win control of the House in November and take back the gavel to key oversight committees on the Hill, along with subpoena power. Peter Strzok, Crossfire Hurricane leader: Not prosecuted. Some former colleagues who have worked with Durham and are familiar with his inquiry blame COVID-19 for his relatively few prosecutions and lackluster record. They say pandemic-related shutdowns in 2020 and 2021 set back his investigation by limiting travel, interviews, and grand jury hearings. As a result, they say, the clock ran out on prosecuting a number of potential crimes. The last FISA warrant, which according to the court was illegally obtained, was approved June 29, 2017, which means the five-year federal statute of limitations for that crime expired months ago. Though Durham hinted in the Sussmann case about investigating a broader "conspiracy" or "joint venture," there are few signs pointing to such a massive undertaking. Bringing a "conspiracy to defraud the government" charge, naming multiple defendants, would require Durham adding staff and office space and beefing up his budget by millions of dollars, the former colleagues said. According to expenditure statements, Durham continues to operate on a shoestring budget with a skeletal staff compared with his predecessor Mueller's robust operation, which indicted 34 people. And one of the two grand juries Durham used to hear evidence has expired. It recently wrapped up work, apparently without handing down new indictments (though some could be under seal). "If Durham were building toward an overarching indictment alleging a corrupt conspiracy between the Clinton campaign and the FBI to deceive the court, he would not be charging people with lying to the FBI," former federal prosecutor Andrew McCarthy said. If there are any investigations still open after Durham retires, they could be handled by U.S. attorneys, the sources said. At least one of Durham's prosecutors works as a trial lawyer in the U.S. Attorney's Office in D.C. According to a court exhibit, Joffe "remains a subject" in the Sussmann-related investigation into alleged attempts by federal contractors to defraud the government with false claims about Trump and Russia. Joffe invoked his Fifth Amendment right not to testify after receiving a grand jury subpoena and has not cooperated with requests for documents. His lawyer did not return phone calls and emails. The Special Counsel's Office did not respond to requests for comment. The FBI declined comment for this article, but issued a statement last year saying it "has cooperated fully with Special Counsel Durham's review."  Tyler Durden Fri, 09/30/2022 - 21:15.....»»

Category: blogSource: ZEROHEDGE42 min. ago Related News

EXCLUSIVE: The Adventures Of Tom Ward, The Celebrity Interviewer Who Lived A Double Life

Everyone has a superpower. It rests on whether you have enough patience to realize and strengthen your superpower. That's according to Tom Ward, the writer and celebrity interviewer behind The Tow Ward Show. read more.....»»

Category: blogSource: BENZINGA58 min. ago Related News

Five Top European States Young Americans Are Thriving

Despite the current economic climate, and the eye-watering cost of living that has already affected millions of American households, a portion of younger adults are still finding it manageable to thrive financially even as financial anxiety persists. It’s not completely possible to ignore the major economic headwinds many Americans have experienced throughout the year. Skyrocketing […] Despite the current economic climate, and the eye-watering cost of living that has already affected millions of American households, a portion of younger adults are still finding it manageable to thrive financially even as financial anxiety persists. It’s not completely possible to ignore the major economic headwinds many Americans have experienced throughout the year. Skyrocketing inflation has sent consumer prices soaring, leaving consumers baffled over whether they will be able to cope with the increasing cost of living. In June 2022, the Consumer Price Index hit a red-hot 9.1%, the highest recorded in more than four decades. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   During the same time inflation was sending warning signs across the economy, motorists were paying on average $4.96 per gallon of regular gas, in some places such as California, gas prices hit a staggering $6.39 per gallon. Fortunately, since then, gas prices have substantially come down in recent months, but have seen going up by a couple of cents in the last few weeks. Pricier goods and expensive gas isn’t the only thing that’s been hurting American households. The Federal Open Market Committee (FOMC) recently hiked its prime interest rate by another 75 basis points, marking the highest interest rates have climbed since the financial crisis back in 2007. Jerome Powell, Chair of the FOMC commented that the Federal Reserve will continue to increase the cost of borrowing until they have managed to push inflation down to its target 2% range. The aggressive rate hikes have been a major headwind for not just more financially secure adults, but more so for the younger generations of Americans who were hoping to purchase their first or second home this year. On the back of this, recent indicators have also revealed that the median rental price has also jumped by 4.8% in the past year. Increased consumer demand as people returned to cities, and higher operating costs have sent rental prices spiraling in the last few months. A Redfin rental report from May 2022 revealed that the median price rental price in the country surpassed the $2000 per month threshold for the first time, with the outlook showing possibilities of further increases in the near future. Americans, young and old are paying more for nearly everything these days, and it’s likely to remain this way for the next few years. As economic conditions uncontrollably deteriorate faster than experts predicted, younger Americans are finding it easier and more affordable to relocate abroad in the hopes of enjoying a more affordable lifestyle. While there are several top countries Americans are considering moving to, for many millennials in the U.S. allied European nations are providing them with more attractive jobs and financial opportunities. Recent statistics indicate that among non-European citizens that currently reside within the European Union (EU) 17% relocated for work purposes, 3% for education, and 39% for family-related reasons. Although there is no direct indication of how many of these non-EU citizens were American-born, it, however, paints a vivid picture of how European nations are allowing migrants better opportunities economically. Where in Europe Are Millennials Thriving? While there are countless well-known cities in the U.S.that can offer millennials a place to call home, many are choosing EU nations that allow them an affordable cost of living, financial security, and access to affordable housing. The onset of remote working and work-from-home jobs has only further pivoted many to consider moving abroad. While the odds may be stacked against them in a foreign country, the stronger dollar to Euro is also slightly helping play more in their favor as they settle abroad. On top of that, some of these countries on our list have favorable tax regulations, and overall can offer a better quality of life, something which many younger Americans are seeking amid the cost of living crisis. Let’s see which European states are the top places where young Americans are thriving. Switzerland For decades Switzerland has topped many lists as one of the most livable countries in the world, offering citizens a high quality of life and first-rate public services. While Switzerland isn’t part of the European Union, it still offers a unique European experience like no other with its picturesque scenery, and easy access to neighboring countries including Austria, France, Germany, Italy, and Liechtenstein. Popular cities for expats include Basel, Lausanne, and Zurich, which have been found to be among the best-performing hubs for political stability and urban development. While expats can enjoy better education and healthcare services often subsidized by the government, the cost of living is still more than what the average American could afford. Despite this financial challenge, the multicultural and diverse cities give American millennials a better opportunity to settle and perhaps start a family. Portugal As one of the smaller Western European states, Portugal has been ranked 48th among the 50 major economies in the world. The country has been slowly rebuilding its economy after experiencing major downturns during the first half of the 21st century, and in 2021, inflation was around 1.27%, while the U.S. Consumer Price Index (CPI) registered a 4.7% inflation rate. Like other countries across the world that currently offer remote workers a chance at applying for an Expat Visa, a similar visa allows expats to apply and reside within the country for up to two years. The program allows expats to apply for permanent residency within five years of living in the country, making it one of the easiest routes to European citizenship. Although the country has a lot to offer in terms of public services, such as affordable healthcare and education, the COVID-19 pandemic saw an additional 400,000 Portuguese residents being impoverished due to financial uncertainty. Although there are some challenges that the country will still need to resolve in the coming years, it’s undoubtedly one of the more affordable EU nations which have captured the attention of millennial expats. Iceland Although Iceland is not considered one of the most affordable countries in the world, the country has a lot to offer its residents in terms of public services and recreational attractions. The Nordic nation, which is also known as the land of Fire and Ice, partially due to its active volcanoes, and snow-topped mountain ranges has attracted a small community of expats who are able to afford their way around. Most recent figures revealed that in January 2020, roughly 15.2% of the country’s population was made up of legal immigrants and expats. While the country has a small population of just under 400,000, in recent times it’s become a lot more expat-friendly due to the free movement of people coming from continental Europe and other developed nations. If universal state-sponsored healthcare isn’t something that piques your interest, perhaps the 557 hiking trails, backpacking routes, and numerous camping sites will help decide to relocate a bit easier. Large-scale remote working has also meant that since 2020, the country now offers working-from-home professionals the opportunity to legally reside in the country before having to re-apply for the right to remain. Spain  Ranked as the fourth largest economy in the EU, and 14th globally, Spain has become an international hub for business, tourism, and expats looking to take advantage of the numerous economic benefits the country has to offer. Aside from having a substantially developed economy, the country recently witnessed a surge in international firms being headquartered within its borders, seeing more than 14,600 foreign firms setting up their business in the last few years. On top of this, foreign investors have also found that investment opportunities provide better and more lucrative financial well-being, as the government seeks to provide them with an innovative and progressive workforce. Millennials who reside here enjoy affordable housing, among other economic benefits. There is also a well-functioning healthcare system, and most recent government efforts have seen the country move to improve its tax regulations to attract middle-tier working professionals. Germany Being one of the largest and most progressive economies in the European Union, Germany has ample to offer its residents including universal healthcare, tuition-free schools, and some of the best public transportation the continent has to offer. Industry is one of the country’s strongholds, including automotive, mechanical engineering, chemical, and electrical industries. Like other countries around the world, Germany has been struggling to control soaring inflation which hit a piping hot 10% in September. In an effort to control the rampant running rate at which prices have been increasing, the government has unveiled a €200 billion plan to assist consumers in the fight against the cost of living crisis. Although economic conditions have been tumultuous, the government has been actively working to control uncertainty for residents. The country has a strong workforce and offers ample job opportunities for those in their respective professional fields. If you’re lucky enough to obtain a work or residence permit, it’s definitely worth the effort as many expats have found. The Changing Tide On the bright side, it’s starting to look as if consumers are changing their sentiment in terms of current economic conditions. Recent preliminary data compiled by the University of Michigan showed that the consumer sentiment index increased from 58.2 in August, to 59.5 for the first half of September. While a marginal increment, it remains higher than the 50 recorded in June of this year when the economy started to erode on itself. Although it may still take some time before conditions improve, there is a small enclave of Americans who have been able to thrive in current conditions, as these states not only offer better paying jobs with higher wages, but also a more affordable cost of living. Making a living as an American millennial means that a majority of jobs now offer more competitive salaries, work benefits, and the possibility of working from home or remotely. Although this sounds enticing, millennials are still found to be the most in debt generation in the country, as nearly 73% of them have some form of non-mortgage debt, with the average millennial owing close to $117,000. The high amounts of debt have only further burdened many younger millennials, making it harder for them to properly save for retirement, or put money aside for bigger ventures such as buying a house or property. Again, it comes to show that although millennials may be in a comfortable financial position to some extent, they’re still carrying major debt burdens that will take decades to finish repaying. The Bottom Line While countless factors have made the financial outlook increasingly challenging for millions of Americans, it’s clear that some countries offer them an opportunity to thrive under the current economic climate. With better-paying jobs, booming industries, and evergreen tax provisions, several foreign countries are allowing residents to enjoy a better quality of life even as the cost of living has sent shockwaves across the world. In due time, these and other nations may look to make dramatic changes to the way they attract and retain younger and more skilled workers to help uplift the local economy. Although this may take some time before successfully initiated, it just comes to show that younger Americans are continuously looking for better and more lucrative opportunities, even if this means they need to relocate to a different country. Perhaps this is all temporary, but the future outlook is presenting itself in a completely different way, leaving many young Americans to seek out new ventures that provide them with the financial and social security their older counterparts enjoyed in the decades before......»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

What Is Money Maturity And How Does It Impact Your Finances

What is Money Maturity? This process of becoming more financially responsible is called money maturity. Money maturity is a gradual process that happens over time. It is often associated with age but can also be influenced by factors such as life experiences and education. Nevertheless, money maturity typically leads to better financial decision-making and habits. […] What is Money Maturity? This process of becoming more financially responsible is called money maturity. Money maturity is a gradual process that happens over time. It is often associated with age but can also be influenced by factors such as life experiences and education. Nevertheless, money maturity typically leads to better financial decision-making and habits. For example, financially mature people are more likely to save money regularly and make wise investment choices. Financial maturity can lead to a more secure financial future and peace of mind. It is an important goal for many people and can be achieved through careful planning and disciplined spending habits. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   How Does Money Maturity Impact Your Finances? Money maturity can have a positive impact on your finances. As you become more financially responsible, you may find that you can save more money and make better investment choices. This can lead to a more secure financial future and peace of mind. Here are some critical ways money maturity can impact your finances. Be More Disciplined With Your Spending Habits One meaningful way to become more disciplined with your spending habits is to develop money maturity. Money maturity is delaying gratification, planning for long-term goals, and resisting impulsive purchases. Money mature people understand that they cannot buy everything they want immediately and that they need to save up for big-ticket items. They also recognize that impulse buying often leads to regret and financial stress. So instead of succumbing to every temptation, they take a measured approach to spending. As a result, people with money maturity are more likely to stick to a budget and make sound financial decisions. Help You Save Money and Build Wealth Over Time When you are financially mature, you will have the ability to save money and build wealth over time. As a result, you will be less likely to make impulsive purchases and be more strategic about your spending. You will also be less likely to fall into debt, and you will be better able to handle financial emergencies. In short, money maturity can help you achieve financial security and peace of mind. So if you are ready to take control of your finances, it is time to start on the path to money maturity. Give You More Financial Stability and Security Money maturity’s most significant benefits are financial stability and security. You are less likely to fall into debt or experience financial emergencies when financially responsible. You will also have more money to save and invest, leading to a more secure financial future. Money maturity can give you the peace of mind of knowing you are in control of your finances. In addition, it can provide you with the financial security you need to weather life’s storms. Help You Make Wiser Investment Decisions Money maturity is the key to making wiser investment decisions. When young, we tend to cash in on spur-of-the-moment opportunities without considering the long-term consequences. We also tend to underestimate risk, thinking that we are invincible. As we get older and our priorities change, we become more conservative with our money. We start to think about retirement and our future financial security. We also become more aware of the risk and the importance of diversifying our portfolios. The result is that we are more likely to make wiser investment decisions when we are mature. Money maturity is not only about age. It is also about experience and understanding. The more we know about investing, the better we can make informed decisions. There is no substitute for learning from our mistakes; as we get older, we tend to be more cautious with our money. This can lead to better investment decision-making in the long run. Benefits of Money Maturity There are many benefits of money maturity. These benefits can have a positive impact on your finances. Here are some of them. Improved Decision-Making Ability One of the benefits of money maturity is that it can give you the ability to make better decisions about money. In addition, with more life experience under your belt, you’re likely to understand your financial needs and limitations better. You’re also likely to be more comfortable taking risks and making decisions that could impact your financial future. If you combine these things with a willingness to learn from your mistakes, you’ll be in an excellent position to make smart financial choices throughout your life. Greater Peace of Mind As you get older, you realize that money doesn’t buy happiness. Of course, it can buy things that make you happy, but true happiness comes from within. That’s not to say that money doesn’t matter – it does. But it’s not the be-all and end-all of life. Once you reach a certain level of financial maturity, you see money differently. It’s not just about buying the latest gadget or getting the newest car. It’s about security, safety, and peace of mind. Knowing that you have enough money to cover your basic needs and then some give you a sense of calm and contentment that is worth more than any material possession. So if you’re looking for greater peace of mind, focus on achieving financial maturity rather than amassing a fortune. You’ll be surprised at how much better you feel. More Wealth Accumulation Potential One of the main benefits of money maturity is that it can increase wealth accumulation potential. When you are financially mature, you are more likely to make sound decisions with your money and invest it in opportunities that can provide you with long-term growth. For example, you may choose to invest in stocks or real estate or start your own business. These solid investments can help you build your wealth over time. Additionally, financial maturity can help you avoid making impulsive decisions with your money that could end up costing you in the long run. With money maturity, you are more likely to be patient and disciplined with your finances, which can lead to more significant wealth accumulation over time. How To Achieve Money Maturity Money maturity is something that doesn’t happen overnight. It’s a process that takes time, patience, and discipline. Here are some tips to help you get where you want to be. Be Mindful of Your Expenses Money maturity is when your relationship with money is healthy, and you’re mindful of your spending. This doesn’t mean you never spend money on things you want, but that you’re aware of your spending patterns and make choices that align with your goals and values. To achieve money maturity, start by getting clear on your goals. What do you want to save for? What kind of lifestyle do you want to live? Once you know your goals, you can start to make choices about your spending that will help you achieve them. For example, if you want to save for a down payment on a house, you might cut back on eating out and put that money into savings instead. Or, if you want to travel more, you might look for ways to cut costs so you can save up for airfare and accommodation. Money maturity is about being aware of your spending and making choices that align with your goals. By doing this, you can achieve financial stability and freedom. Learn About Money Management and Investment Strategies Achieving money maturity is not about how much money you have in the bank. It’s about learning to manage your finances and make wise investment choices. And it’s never too late to start. If you’re unsure where to begin, plenty of resources are available to help you get started. You can start by reading books or articles about personal finance and investment strategies. You can also take classes or participate in online courses. And there are even financial advisers who can help you develop a plan that fits your unique needs and goals. The most important thing is to get started on the path to financial literacy. The more you learn about money management and investing, the more likely you will achieve money maturity. And that’s a goal worth pursuing. Stay Disciplined With Your Spending Habits Most people never achieve financial maturity because they are not disciplined with their spending habits. It is crucial to be disciplined when it comes to spending your money. Many people think they can save money, which will be enough. However, you need to be able to control your spending to save money. You need to have a plan for your money, and you need to stick to it. Otherwise, you will never achieve financial maturity. Unfortunately, many people are not disciplined with their spending, and they always seem to end up in debt. They max out their credit cards and never seem to be able to pay off their debts. To achieve financial maturity, you need to be disciplined with your spending. You need to have a plan for your money and stick to it. Otherwise, you will never achieve financial maturity. Create a Savings Plan and Stick To It One fundamental way to achieve money maturity is by creating and following a savings plan. A savings plan can help you reach your short- and long-term financial goals and make it easier to weather unexpected expenses. To create a savings plan, start by setting a realistic goal. Then, calculate how much you need to save each month to reach that goal. Once you have a plan, the next step is to stick to it. This means making sacrifices in other areas of your budget and being disciplined about not dipping into your savings account except in an emergency. Obstacles to Achieving Money Maturity There are a few obstacles that can prevent you from achieving money maturity. Unfortunately, obstacles can derail your progress and make it difficult to reach your financial goals. Here are a few of the most common barriers. Lack of Financial Literacy One of the primary obstacles to achieving money maturity is a lack of financial literacy. This term refers to understanding and using financial concepts, including budgeting, investing, and credit management. Without a basic understanding of these concepts, it is difficult to make sound financial decisions. For example, someone who does not understand compound interest may be more likely to choose a high-interest credit card over a low-interest savings account. Similarly, someone who lacks financial literacy may be more likely to make impulsive purchases instead of investing in the future. The good news is that financial literacy can be learned at any age. By educating yourself about personal finance, you can overcome this obstacle and start on the path to money maturity. Poor Spending Habits Many struggle to maintain a healthy relationship with money due to poor spending habits. Often, these habits are learned from adults during childhood. For example, a child who watches their parents constantly spend beyond their means may believe this is normal behavior. As they grow older and begin to earn their own money, they may find it challenging to stick to a budget or save for long-term goals. Poor spending habits can be a significant obstacle to achieving financial maturity. It can be difficult to achieve financial stability and security without knowing how to manage money properly. To overcome this obstacle, educate yourself on healthy spending habits and develop a plan for your finances. Lack of Savings Discipline One obstacle that can prevent people from achieving financial maturity is a lack of savings discipline. It can be challenging to break out of spending everything you earn, but it is essential to begin setting aside money for future goals. One way to start saving is to set up a budget and stick to it. This can help you to track your spending and make cuts in areas where you are spending more than you need to. Another helpful tip is to automate your savings so that a certain amount of money is transferred into your savings account each month. This can help to ensure that you are always putting money away for the future. By developing a disciplined approach to saving, you can begin to achieve financial maturity and reach your long-term financial goals. Inability to Resist Temptation When it comes to managing money, the temptation can be a significant obstacle. Whether spending money on unnecessary items or making impulsive decisions, the inability to resist temptation can quickly lead to financial problems. While it may be difficult to resist the urge to splurge, it’s important to remember that every purchase has an opportunity cost. When you spend money on one thing, you automatically choose not to spend that money on something else. For example, if you buy a new pair of shoes, you’re choosing not to save that money for a future goal. Therefore, it’s essential to be mindful of short-term and long-term consequences when tempted to purchase. Money Maturity and Financial Success Money maturity is not simply about having a large bank balance or earning a high income. It is about having a positive relationship with money and making sound financial decisions. Those who are financially mature understand the importance of budgeting, saving, and investing for the future. They make well-informed decisions about how to spend their money and are mindful of the long-term consequences of their financial choices. Financial planning is an essential part of financial maturity. By setting clear financial goals and developing a plan to achieve them, you can put yourself on the path to financial success. It may not be easy, but it is worth it. With financial maturity comes greater peace of mind, security, and freedom. So if you want to achieve financial success, start by working on your money maturity. Article by Anthony Martin, Due About the Author Anthony Martin is the founder and CEO of Choice Mutual, Official Member at Forbes Finance Council, a nationally licensed final-expense insurance agency located in Reno, Nevada......»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

The Cineplex Saga Continues With U.S. Bankruptcy Court Denial

Cineplex continues to look for ways to monetize its 2020 aborted merger with UK-based Cineworld. Recent events suggest its pursuit of justice will be a long and winding road. A judge in the U.S. Bankruptcy Court in Houston on Wednesday denied Cineplex Inc.’s request to allow its case against Cineworld Group plc (LON:CINE) to proceed […] Cineplex continues to look for ways to monetize its 2020 aborted merger with UK-based Cineworld. Recent events suggest its pursuit of justice will be a long and winding road. A judge in the U.S. Bankruptcy Court in Houston on Wednesday denied Cineplex Inc.’s request to allow its case against Cineworld Group plc (LON:CINE) to proceed in October in the Ontario Court of Appeal despite the current U.S. proceedings. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Judge Marvin Isgur said allowing the litigation to continue at the early stage of London-based Cineplex's bankruptcy case would be "premature." "The purpose of the automatic stay is to give the debtor a breathing spell," Isgur said. Cineworld Withdraws Deal To Acquire Cineplex Cineworld, which filed for chapter 11 earlier this month, withdrew from a deal to acquire Cineplex in the wake of the Covid-19 pandemic. "The purpose of the automatic stay is to give the debtor a breathing spell," Judge Isgur said. He added that Cineplex remains free to seek future relief. As a result of the decision in the U.S., Cineplex's efforts to collect a CAD$1.24 billion Ontario Superior Court of Justice judgment in December 2021 are on hold until 2023 after Cineworld's U.S. bankruptcy proceedings have concluded.  Cineplex's share price jumped to $9.37 on the news but quickly retreated. It had since fallen back to where it was trading before the speculation surfaced. CGX stock lost 34% in 2022 to date and is off almost 75% since March 2020, when it appeared Cineworld would try to rescind its CAD$2.8 billion offer to buy Cineplex. In June 2020, the company officials said it wanted out of the deal. Also, on Wednesday,  The Wall Street Journal reported that Cineplex is considering merging with Regal Entertainment Group, Cineworld's U.S. subsidiary.  Details regarding potential Cineplex/Regal plans are limited, with the Journal saying Cineplex would offer Cineworld's lenders cash-and-stock backed by the combined business's assets. Some investors aren't convinced. Cineplex wants a Regal Deal. Deadline.com reported on Sep. 28 that the company is merely trying to secure its claim against Cineworld.  "I read the story as I was eating my cheerios that Cineplex has engaged with lenders of Regal Cinemas about a potential merger. That was news to me. We obviously have had merger talks with Cineplex on and off," said Cineworld attorney Joshua Sussberg of Kirkland & Ellis. "In fact, there were conversations over the course of the summer before we had an acute liquidity problem." In 2019, Cineworld's U.S. business generated $3.21 billion in revenue, including $1.86 billion from box office receipts. Over the next two years, its combined revenue was $1.80 billion, less than its 2019 box office. Cineplex's 2019 revenue was CAD$1.67 billion. Its two-year combined revenue for 2020 and 2021 was CAD$1.07 billion.  Assuming a merger between Regal and Cineplex went ahead, it would have combined revenue of $4.43 billion, based on 2019 results. AMC Entertainment Holdings (AMC) trades at 1x sales, which values the combined entity's equity at $4.43 billion.  AMC paid $3.6 billion for Regal's equity in 2018, plus the assumption of $2.3 billion in net debt.  Before Cineplex can make an official offer to the bankruptcy courts to buy Regal, Cineworld has the right to make its restructuring offer to its creditors. Article by Will Ashworth, Fintel.....»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

Walmart Gift Cards: How to Purchase and Use Them? [Online, & In-Store]

Walmart Gift Cards: How to Purchase and Use Them? [Online, & In-Store].....»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

How Does Keurig Dr Pepper Compare To Larger Rivals Coke & Pepsi?

Keurig Dr. Pepper raised its dividend in September The stock has returned more, year-to-date, than larger rivals Coca-Cola and PepsiCo Keurig Dr. Pepper is part of the S&P 500, and its recent price action is essentially tracking its index With the market continuing to hit the skids, despite Wednesday’s bounce higher, dividend-paying stocks like Keurig […] Keurig Dr. Pepper raised its dividend in September The stock has returned more, year-to-date, than larger rivals Coca-Cola and PepsiCo Keurig Dr. Pepper is part of the S&P 500, and its recent price action is essentially tracking its index With the market continuing to hit the skids, despite Wednesday’s bounce higher, dividend-paying stocks like Keurig Dr Pepper (NASDAQ:KDP) may look more and more attractive. But can it bubble to the top of investors’ watch lists, especially when compared to bigger rivals Coca-Cola (NYSE:KO) and PepsiCo (NYSE:PEP). .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. Keurig Dr Pepper raised its dividend by 6.7% in mid-September, increasing its annualized dividend rate to $0.80 per share, up from $0.75 per share. The increased quarterly cash dividend of $0.20 per share is payable on October 14 to shareholders of record on September 30. Its current dividend yield is 2.2%. Coke’s yield stands at 3.1%, and Pepsi’s is 2.7%. What about the total return for each when factoring in price action as well? Year-to-date, here’s how each has performed: Keurig Dr Pepper: +0.74% Coca-Cola: -1.54% PepsiCo: -0.96% All three are large caps and tracked by the S&P 500. Keurig Dr. Pepper joined the index in June, replacing Under Armour (NYSE:UA) which is currently in the small-cap territory. However, Coke and Pepsi have market caps of $244 billion and $229 billion, respectively, dwarfing Keurig Dr. Pepper value of $51 billion. To a degree, the smaller size may explain some of Keurig Dr. Pepper’s outperformance this year, although when you are talking about mega-caps versus large caps, the difference is not always so pronounced. Keurig Dr Pepper’s cold-beverage business was a standout in the second quarter, which the company reported in late July. Hot Sales Of Cold Beverages In the earnings release, the company said its Liquid Refreshment Beverages category remained exceptionally strong, with retail dollar consumption advancing 9.9%, and market share growing or holding across 92% of its cold beverage portfolio. The company said that largely reflected strength in carbonated soft drinks, premium unflavored water, coconut water, seltzers, teas, apple juice, vegetable juice, and fruit drinks. The company’s brands include not only its namesake Dr. Pepper but also Sunkist, Canada Dry, A&W, Squirt, CORE Hydration, Vita Coco, Polar seltzers, Snapple, Hawaiian Punch, and Mott's. The coffee segment, formed when Keurig Green Mountain acquired Dr. Pepper Snapple in 2018, also grew, but at a lower rate. This business unit includes its own manufactured coffee pods, as well as technology licensing to other manufacturers. In the release accompanying the earnings report, outgoing CEO Bob Gamgort said, "We successfully recovered from supply chain disruptions in coffee and non-carbonated beverages, implemented additional pricing to offset inflation, and continued to accelerate growth across our broad portfolio, leading to another quarter of strong market share performance. We remain confident that our ‘all-weather’ business model will enable us to deliver in the ongoing volatile macro environment." Revenue Ahead Of Wall Street Views Earnings came in at $0.39 per share, up 3% over the year-ago quarter. Revenue was $3.554 billion. A glance at MarketBeat earnings data shows that the company met earnings views, but revenue came in ahead of expectations. Analysts have a “hold” rating on the stock, as analyst data compiled by MarketBeat show. The consensus price target is $40.33, with a potential upside of 11.94%. On September 27, Goldman Sachs downgraded the stock from “buy” to “neutral,” with a price target of $37, up slightly from where shares were trading Thursday. On its chart, you’ll see that Keurig Dr. Pepper is forming a correction that’s fallen 14%, as of Thursday. The stock’s price performance has essentially tracked that of its index. Keurig Dr. Pepper topped out from a recent rally on August 18, two days after the S&P 500 rolled over from an interim high. As with pretty much all stocks right now, it’s one to track, but use caution until the market re-enters a confirmed rally. Should you invest $1,000 in Under Armour right now? Before you consider Under Armour, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Under Armour wasn't on the list. While Under Armour currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here Article by Kate Stalter, MarketBeat.....»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

Declining Profits Challenge The CarMax Value Proposition

CarMax stock is dropping sharply after reporting a steep drop in profits. Consumers are voting with their wallets, which is consistent with the current monetary policy. If the worst is baked in, KMX stock is starting to look properly valued  The used car dealership CarMax (NYSE:KMX) disappointed investors with a lemon of an earnings report. […] CarMax stock is dropping sharply after reporting a steep drop in profits. Consumers are voting with their wallets, which is consistent with the current monetary policy. If the worst is baked in, KMX stock is starting to look properly valued  The used car dealership CarMax (NYSE:KMX) disappointed investors with a lemon of an earnings report. The company showed softer revenue than expected. But the headline number was the company’s profit decline. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true);   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. The company reported earnings per share (EPS) of 79 cents, nearly 50% below the average analyst estimate for $1.40 per share.   Not surprisingly, shares of KMX stock are down 23% in mid-day trading following the report. That brings the year-to-date loss down to almost 50% for the stock. This is particularly troublesome because the stock was already performing worse than the broader market.  But this isn’t a surprise to most investors, and certainly not to most consumers. Used car prices were one of the first indicators of rising inflation. And with inflation likely to remain sticky for some time, consumers are taking matters into their own hands.   This Could Take Awhile  Since the earnings report, some analysts are proclaiming the used car boom is over. That may be true. But I’m not sure if that’s going to be much relief for used-car buyers in the near term. Like inflation itself, prices of used cars may not be increasing, but it’s not the same thing as having prices go down. That’s not likely to happen right away. And there are two significant reasons for that.   First, the auto industry still faces a supply-demand imbalance. Therefore, in situations where buying a new car is a necessity instead of a nice-to-have, consumers are likely to be facing elevated prices for some time to come.   Second, if you take the Federal Reserve at its word, interest rates are going to continue to rise into 2023. That means that many consumers who are priced out of the market will remain priced out of the market. And unfortunately, it may mean that more consumers will be priced out.  I’ll offer a bonus reason as well. Individuals who are planning to finance a vehicle may find that, if they can afford it, the difference between a new and a used vehicle (in terms of monthly payments) may make it more cost-effective to buy a new vehicle.   Is The Worst Over for KMX Stock?  Investors and consumers need to be careful not to miss the point of CarMax’s earnings. The company has created a more efficient way to sell cars. That’s not going away. But efficiency can’t overcome every purchase obstacle.   And that efficiency comes at a cost. The company said that its general and administrative expenses increased by 18% in the quarter due, in part, to investments in technology. While those are likely to pay for themselves, the company’s results show that it doesn’t matter how easy it is to buy a car if demand is not there. And price is still the most significant factor.  That being said, CarMax is still expected to grow revenue over the next five years, albeit at a much slower pace than in the past couple of years. But that is likely to be a drag on earnings which are forecast to have an average decline of around 3% in the next five years.   I don’t own or plan to own KMX stock. But if I was considering it, that would be the question I’d be asking. If it is, then you could point to an appealing price-to-earnings ratio of around 11x earnings as a reason to look at the stock. However, that’s still higher than AutoNation (NYSE:AN) which has a P/E ratio of around 4x earnings and just saw its quarterly earnings make an all-time high.   Should you invest $1,000 in CarMax right now? Before you consider CarMax, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CarMax wasn't on the list. While CarMax currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here Article by Chris Markoch, MarketBeat.....»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

This Is A Memorable Time To Buy Into Micron Technology

Micron Technologies is a blue-chip tech stock trading at a deep value. The company’s weak guidance may already be priced into the stock.  Micron Technologies has a healthy balance sheet and is well-positioned for a slowdown.  Shares of Micron Technology (NASDAQ:MU) are down nearly 50% from their post-pandemic highs, driven by the same malaise as […] Micron Technologies is a blue-chip tech stock trading at a deep value. The company’s weak guidance may already be priced into the stock.  Micron Technologies has a healthy balance sheet and is well-positioned for a slowdown.  Shares of Micron Technology (NASDAQ:MU) are down nearly 50% from their post-pandemic highs, driven by the same malaise as other parts of the market, and now presenting a very memorable time to buy. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Series in PDF Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. At these levels, near $50, the stock is valued at a mere 6X its earnings and this is a blue chip tech stock fundamental to the global economy we’re talking about. Even Intel (NASDAQ:INTC) trades at nearly twice the value and it’s no flashy name itself, not one worth such a large premium in the face of a slumping market anyway. The takeaway is that the shares of Micron are trading at a firm level of support, the company is outperforming expectations, and is well-positioned for the downturn in business and so attractively priced at these levels.  Micron Circles The Wagon Following Mixed Quarter  Micron had a tough quarter but not one without good news although the good news was sparse. The company reported $6.64 billion in revenue for a decline of 19.7% versus last year and missed the consensus by 200 basis points which are not good news. The downturn was driven by a decline in demand versus last year’s pandemically-driven peak that is expected to extend into next year. The NAND and DRAM markets are well-supplied at this time and undergoing an inventory correction that has been brewing for the last two quarters or so.  The margin is also a source of bad news but not quite as bad as expected, which is the good news. The company reported a contraction in the GAAP and adjusted margin at the gross and operating levels due in large part to deleveraging in the face of slowing sales. Operating expenses held relatively flat on a sequential and YOY basis (up in both comparisons but slightly) which cut deep into the bottom line. The good news is that adjusted EPS of $1.45 came in $0.08 better than expected although it is down about a dollar from last year and the guidance isn’t awesome.  Micron is guiding FQ1 to revenue of $4.25 billion plus or minus a quarter billion. This is not only down sequentially and YOY but the weakest quarterly outlook in many years, since well before the pandemic, and more than 2500 basis points below the current consensus. The revenue weakness is going to lead to earnings of $0.04 to $0.10 as well, which is another big whiff. Micron’s Balance Sheet Is Ready For The Slowdown  Micron has a very healthy balance sheet that includes $11 billion in cash and securities and a net-cash position of $4.15 billion which is enough to support the dividend and the buyback plan over the next year with no changes.  As it is, the company bought back $2.43 billion in fiscal 2022 and started paying a dividend. The yield is worth 0.85% but comes with an ultra-low payout ratio and a very healthy balance sheet so there is a positive outlook for distribution increases although maybe not this year.  The Technical Outlook: Micron Moves Up From Support  Shares of Micron gained nearly 3.0% in early trading and look like they may be putting in a bottom. The near-term outlook is bullish but may be capped at the short-term moving average so caution is due. A move above the EMA would be bullish and could lead to a fuller reversal but general market conditions may put a lid on that for the foreseeable future. Longer-term, if the stock can put in a solid bottom a reversal is likely in the back half of 2023 once the memory-chip market restabilizes and production begins to ramp again.  Should you invest $1,000 in Micron Technology right now? Before you consider Micron Technology, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list. While Micron Technology currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here Article by Thomas Hughes, MarketBeat.....»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

Surprise! October Is The Best Month In Mid-Term Election Years

For weekend reading, Gary Alexander, senior writer at Navellier & Associates, offers the following commentary: Indexes are setting new annual lows. In my previous column, I predicted (based on the history of mid-term election year markets) that we would likely see lower lows in the fall, if history is any guide. It may happen sometime […] For weekend reading, Gary Alexander, senior writer at Navellier & Associates, offers the following commentary: Indexes are setting new annual lows. In my previous column, I predicted (based on the history of mid-term election year markets) that we would likely see lower lows in the fall, if history is any guide. It may happen sometime in early to mid-October, but then we’re likely to see a dramatic year-end rally – probably starting before the actual November 8 election results are in. After all, markets tend to anticipate news. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2022 hedge fund letters, conferences and more   Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. Below is a month-by-month look at the last 15 fourth quarters of mid-term election years, since 1962. Going into this study, I thought that the late-year gains would be strongest in November, after the election results were in, but that was not the case. As you can see from this table, the majority of the gains came in October, before the elections. What’s more, October was the best-performing fourth-quarter month in 8 of the last 15 mid-term cycles: There are some interesting stories here. Among double-digit fourth-quarter gains, these four lead the pack: In 1962 (+12.1%), the Cuban Missile Crisis was resolved in late October, which gave JFK an election boost. His Party lost only two seats (-4 in the House and +2 in the Senate) after pundits once expected he would lose far more. In addition, November delivered a nice double-digit 10.2% market gain. In 1982 (+16.8%), we still suffered from our worst postwar recession, and the once-popular Ronald Reagan sported a 42% approval rating, but Fed Chair Volcker had broken the back of inflation and was busily lowering interest rates by giant steps, so that delivered an 11% market boost in October. In 1998 (+20.9%), October gained 8% even though President Clinton was subject to impeachment investigations. His popularity soared to 65% and stayed there through the mid-term election, as most people thought the charges were fairly trivial. After the previous 10 Presidents (going back to FDR) had lost seats in mid-term elections, Clinton actually gained 5 House seats and lost no Senate seats. 2010 (+10.2%) is the most recent double-digit gain, when Tea Party voters delivered what columnist Charles Krauthammer called a “restraining order” to the Obama Administration’s ambitious plans. The 2010 election resulted in the largest swing since 1938: +63 House seats and +6 Senate seats. This table from Bespoke Investment Group shows a summary of the mid-term election results since 1946: Will 2022 Be An "Inflation Election" or Will We See an October Surprise? Last April, The Wall Street Journal called the coming mid-terms, “The Inflation Election”. Since then, each time the Biden team says inflation has peaked, some uncomfortably high inflation numbers emerge, partly caused by Biden’s blunders, like limited fossil fuel exploration or pushing more costly electric vehicles (EVs). We are already suffering from electricity shortages, even with a small percentage of EVs on the road. In the last 12 months, through August 31, electricity prices are up 15.8% and utility prices, including natural gas, are up 33%. Groceries are up 13.5%, which is the fastest rise since 1979. Wages aren’t keeping up, as real average hourly earnings are down 2.8% from August 2021 to August 2022, so inflation remains the #1 issue for most voters this year. Each of the past four Presidents suffered a reversal of their Party’s Congressional majority during a mid-term election: Clinton in 1994, Bush in 2006, Obama in 2010, and Trump in 2018 – two Democrats and two Republicans. President Biden has a much narrower margin in both Houses than the previous four Presidents, and he has a low popularity rating, so he will likely suffer the same fate this November. With Democrats barely holding 50-50 in the Senate and 51-49 in the House, that’s the narrowest plurality going into a first-time mid-term, and Biden’s latest approval rating is the same 42% as Trump’s in 2018. The Fed isn’t doing the President any favors. Following the Federal Reserve’s latest hawkish inflation-fighting game plan, we’re liable to see a 0.75% rate increase just six days before the election, so a big swing in Congress this fall – how much is anyone’s guess – is a likely bet. The current real-money odds in Las Vegas are about 6-to-1 (put up $6 to win $1) that the Republicans will take control of the House. The war in Ukraine is important, but out of touch to most Americans. Inflation in food and energy prices – exacerbated by that war (but not caused by it) – are closer to home for most voters. With inflation stubbornly higher than the “transitory” predictions of the Fed last year, and only one more monthly data point to report for the Consumer Price Index (CPI) before the elections, there is not much time for the Biden team to turn around inflation expectations among millions of voters suffering these high prices. There’s always the chance for an October or early November surprise, like a sudden solution to the war in Ukraine, but even in that arena, the blundering Biden team seems more intent on unconditional surrender and regime change in Russia than in negotiations. There’s also talk of more regulations and higher taxes, while flooding the economy with cash-machine, vote-buying schemes like college loan debt forgiveness. Incumbents seldom win re-election for their Party when they take a bustling 6.3% GDP economy down to “stagflation” (zero growth plus inflation), even if they come up with spending plans disguised as Inflation Reduction Acts, so get ready for Gridlock, unless the Biden team can pull a miracle out at the last minute......»»

Category: blogSource: VALUEWALK2 hr. 25 min. ago Related News

$1000 Invested In Micron Technology 15 Years Ago Would Be Worth This Much Today

Micron Technology (NASDAQ:MU) has outperformed the market over the past 15 years by 5.08% on an annualized basis producing an average annual return of 10.81%. Currently, Micron Technology has a market capitalization of $55.27 billion. read more.....»»

Category: blogSource: BENZINGA2 hr. 41 min. ago Related News

IBM Whale Trades For September 30

A whale with a lot of money to spend has taken a noticeably bullish stance on IBM. Looking at options history for IBM (NYSE:IBM) we detected 10 strange trades. read more.....»»

Category: blogSource: BENZINGA2 hr. 41 min. ago Related News

World"s Top Banks Have 0.01% Exposure To Cryptos: Report

The top banks in the world hold crypto assets worth around $9 billion, according to a Basel Committee report. read more.....»»

Category: blogSource: BENZINGA2 hr. 41 min. ago Related News

ARK Invest Short Sellers Have $2.3B In Profits So Far In 2022

After a horrible 2021 for Cathie Wood, the ARK Innovation ETF (NYSE: ARKK) is down another 59.1% in 2022. High-growth tech stocks have taken a beating as interest rates have spiked, sending ARK Invest ETFs plummeting. read more.....»»

Category: blogSource: BENZINGA2 hr. 41 min. ago Related News

A Look At Bitcoin, Ethereum Classic And Dogecoin Heading Into The Weekend

Bitcoin (CRYPTO: BTC) briefly popped up above the $20,000 mark on Friday when the S&P 500 spiked higher, before running into a group of sellers who pushed the crypto back under the level. read more.....»»

Category: blogSource: BENZINGA2 hr. 41 min. ago Related News

New York Times Faces Strife With Employees Over Outdated Wages

The New York Times Company (NYSE: NYT) is facing internal struggles between management and staff over stagnated wages. The conflict escalated to the point that more than 1,300 unionized employees refused to return to the office after the paper announced the end of remote work in early September. read more.....»»

Category: blogSource: BENZINGA2 hr. 41 min. ago Related News