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Is California Reaching Critical Mass?
Is California Reaching Critical Mass?
Authored by Victor Davis Hanson via American Greatness,
By any measure, California is a failed state—and a national embarrassment.
Taxes? It has the highest income and gas taxes in the nation.
Roads? A Reason Foundation survey ranks it 49th among the states.
Mass flight? Between 250,000 and 350,000 more Californians leave the state than move in each year. Housing, gas, insurance, and electricity prices? The highest in the continental U.S.
Illegal aliens, the poor, the homeless, the foreign-born, and welfare recipients? The largest numbers in the U.S.
Public K–12 schools? Test...
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Jul 8, 2026 / Tyler Durden
Consumer Credit Unexpectedly Shrinks For The First Time Since 2024 As Credit Card Rates Jump
Consumer Credit Unexpectedly Shrinks For The First Time Since 2024 As Credit Card Rates Jump
After two consecutive outsized jumps in consumer credit in the months of March and April, when gas prices surged and inflation resumed its track higher, lifting most prices as a result of the war in Iran, moments ago the Fed published its latest consumer credit (G.19) report for the month of May and it was a doozy: instead of the expected $17.5BN increase, in May total consumer credit unexpectedly shrank for the first time since...
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Apr 22, 2026 / Tyler Durden
Solid 20Y Auction Stops Through With Above Average Foreign Demand
Solid 20Y Auction Stops Through With Above Average Foreign Demand
The week's lone coupon auction priced at 1pm when the Treasury sold $13 BN in 20Y paper, in a solid if not stellar auction.
The auction stopped at a high yield of 4.883%, up from 4.817% in March and the highest since last July. It also stopped through the 4.892% When Issued by 0.9bps, the highest since January.
The bid to cover was 2.68, down from 2.76 in March but above the 2.63 six-auction average.
The internals were also solid with Indirects taking...
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Apr 13, 2026 / Tyler Durden
Welcome To The Theater Of The Absurd
Welcome To The Theater Of The Absurd
Authored by Charles Hugh Smith via OfTwoMinds blog,
The real world no longer matters, what matters is the performance on stage. Welcome to the Theater of the Absurd.
In the present era, all the world is a stage and everything is a performance on that stage: welcome to the Theater of the Absurd, a Hollywood set fabricated of cardboard and plaster made to look like gold leaf and marble columns, where the contraptions and ropes that do the magic are hidden behind purple velvet drapery.
Every detail has...
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