Author: BlackMask Financial

Former president George W. Bush and wife Laura express ‘deep sadness and heavy hearts’ over unfolding Afghanistan crisis with ‘thank you’ message to troops who ‘made America proud’

• Bush issued the address late on Monday night after a chaotic day in Kabul which saw eight Afghans killed
• The former president and his wife said their ‘hearts are heavy’ for the Afghan people and the Americans and NATO allies who fought in the country 
• Bush warned last month that Afghan women and girls will ‘suffer’ under the rule of the ‘brutal’ Taliban
• The former Republican president sent troops to Afghanistan in the fall of 2001 
• America has spent an estimated $978billion in Afghanistan – with much of it reserved for arming and training the Afghan military and police 
• Intelligence sources said that the rout of the Afghan forces was highly predictable and should not have surprised the Biden administration

F ormer US President George W. Bush said he and former First Lady Laura Bush feel ‘deep sadness’ over the events unfolding in Afghanistan. In a statement issued late on Monday night, the former president and his wife said their ‘hearts are heavy for both the Afghan people who have suffered so much and for the Americans and NATO allies who have sacrificed so much.’

Bush had criticized the planned withdrawal of US and NATO troops from Afghanistan just last month, warning that civilians would be left to be ‘slaughtered’ by the ‘brutal’ Taliban and women and girls would face ‘unspeakable harm.’ 

The former Republican president was responsible for the initial US onslaught against the Taliban when he deployed troops to Afghanistan in 2001 after the September 11 attacks on New York’s World Trade Center. After expressing his condolences, the former president asserted his confidence that the United States Armed Forces (USAF) would be able to carry out an effective evacuation plan of the remaining Americans and Afghan refugees. Bush and his wife went on to recognize the veterans who had served in Afghanistan, lauding their accomplishments and recognizing the wounds, both visible and invisible, suffered by those who were embroiled in the conflict. Their statement read ‘in times like these, it can be hard to remain optimistic’, but echoed the sentiments of Dr. Sakena Yacoobi of the Afghan Institute of Learning who declared ‘the Taliban cannot crush a dream.’ The former president and his wife rounded off their statement by offering their support and that of the Bush Center, a complex which houses Bush’s presidential library, policy institute and the George W. Bush Foundation. In an July interview with Deutsche Welle, Bush said: ‘It’s unbelievable how [the Afghan] society changed from the brutality of the Taliban and how all of a sudden, sadly, I’m afraid Afghan women and girls are going to suffer unspeakable harm.’

‘I think about all the interpreters and the people that helped not only US troops, but NATO troops and it seems like they’re just going to be left behind to be slaughtered by these very brutal people, and it breaks my heart.’

The Taliban swept into the Afghan capital on Sunday after the Western-backed government collapsed and President Ashraf Ghani fled the country ‘to avoid bloodshed’, bringing a stunning end to a two-decade effort in which the US and its allies had tried to transform the country. Almost all major checkpoints in Kabul were under Taliban control even before Bush had issued his statement on Monday evening. The US Embassy was officially closed and evacuated along with the flag on Sunday evening, with ambassador Ross Wilson and other diplomats relocating to the airport in embarrassing scenes reminiscent of the evacuation of the embassy of Saigon in 1975.  Meanwhile, Taliban officials promised civilians would not be harmed and announced everyone would be allowed to return home from Kabul airport if they decided to stay in the country.  The Taliban previously said westerners would be allowed to leave the country but that Afghans would be barred from departing. There are thought to be at least 40,000 people who need evacuating from the country – including 30,000 US diplomats, visa holders and Afghans they have promised sanctuary, 4,000 Britons and an unknown number of other westerners including Spanish, French, Germans and Poles.  America is hoping to fly out some 5,000 people per day and the UK 1,200 – though both managed just a few hundred on Monday, meaning the operation is likely to drag on for weeks, if not months.  Politicians in both the US and UK have urged their government to be ‘generous’ with granting asylum to Afghans who helped in the war effort, but there are fears that thousands will be left behind amid the chaos. US President Joe Biden, in his address to the nation on Monday, said that he did not regret his decision to withdraw US troops. ‘The truth is, this did unfold more quickly than we had anticipated,’ he said. He pointed the finger of blame at Afghan leaders who ‘gave up and fled the country’ and Afghan forces who ‘collapsed, sometimes without trying to fight.’ ‘We gave them every chance to determine their own future. What we could not provide them was the will to fight for that future,’ Biden said. On July 8, the president said: ‘The jury is still out, but the likelihood there’s going to be the Taliban overrunning everything and owning the whole country is highly unlikely.’ As recently as last week, Biden publicly expressed hope that Afghan forces could develop the will to defend their country.  But privately, administration officials warned that the military was crumbling, prompting Biden on Thursday to order thousands of American troops into the region to speed up evacuation plans.  Nick Note: America was the hope for people seeking freedom from oppression…… NO MORE. Quote on the base of the statue of Liberty”

“Not like the brazen giant of Greek fame,
With conquering limbs astride from land to land;
Here at our sea-washed, sunset gates shall stand
A mighty woman with a torch, whose flame
Is the imprisoned lightning, and her name
Mother of Exiles. From her beacon-hand
Glows world-wide welcome; her mild eyes command
The air-bridged harbor that twin cities frame.
‘Keep, ancient lands, your storied pomp!’ cries she
With silent lips. ‘Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore,
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!'”

No More:

• Boston Fed President Eric Rosengren said he would be prepared to start tapering asset purchases this fall.
• However, he said the labor market needs to make more progress before he’ll consider rate hikes.

Boston Federal Reserve President Eric Rosengren said Monday he would be prepared to start rolling back some of the central bank’s easy monetary policy this fall but isn’t ready yet to start thinking about raising interest rates. Echoing recent comments from multiple Fed officials, Rosengren  said it’s probably appropriate to begin reducing, or tapering, bond purchases before the end of the year. He voiced support for an announcement on the matter over the next month or two and said he thinks the pullback of the minimum $120 billion a month program will start shortly thereafter. Raising rates, though, will have to wait for the job market to improve. “I think it’s appropriate to start in the fall. That would be October or November,” Rosengren said.. “I certainly wouldn’t want to wait any later than December. My preference would be probably for sooner rather than later.” Rosengren affirmed, though, that he still wants to see more economic progress before taking that next pivotal step.

“The criteria for starting to raise rates is that we see outcomes that are consistent with sustainable inflation at a little bit above 2% … and that we’re at full employment,” he said.

If the unemployment rate continues to fall from 5.4% and wages keep inflation up well above 2%, Rosengren said, he might consider tightening further. “That would be a reason to start thinking about raising rates more quickly, but I’m not expecting that,” he said. Recent comments from regional presidents and Fed Governor Christopher Waller have indicated that Fed officials are looking to prep markets for the imminent start of a taper. Since the early days of the 2008 financial crisis, the Fed has been using purchases primarily of Treasurys and mortgage-backed securities as a way to hold down interest rates and maintain economic growth. The Fed in 2017 started to allow some of the bonds to roll off its balance sheet but had to backtrack amid market upset and, ultimately, the Covid-19 crisis. Markets have been awaiting the inevitable taper but still do not expect to see interest rate hikes until at least late 2022. Nick Bit:  As usual the markets are living in a fools pardise. “They’re seeing the same numbers we’re seeing, so I don’t think it’s necessarily going to be much of a surprise,” Rosengren said of investors. “Markets tend to react to surprises, and I think this has been well-communicated.”

Tapering is appropriate now, he said, as the Fed has hit the inflation part of its mandate and with the asset purchases, also known as quantitative easing, having diminished economic effects.

“This just reflects the fact that it’s not being particularly effective,” he said. “There’s no reason to drag it out as long as the economy continues to progresses as we expect.” Nick Note: Theer is one little problem with this wet dream. The girl is a centerfold and the Covid deadly variant know as Delta will kill the GLOBAL ECONOMY.

Retail sales fell sharply in July, as consumers grew wary of the delta coronavirus variant and inflation, the Census Bureau reported on Tuesday. Economists had expected a dip from June’s revised 0.7% gain. The delta variant has thrown a wrench into what was otherwise a robust recovery from the pandemic, with back-to-back quarters of annual growth in gross domestic product above 6%. However, rising prices for many goods and services have dampened the enthusiasm of consumers. Jonathan Silver, founder & CEO of Affinity Solutions, which tracks millions of credit and debit card users in real time, says consumers increased their online purchases by 3% during the last month, the most significant increase since March when federal stimulus payments were sent out. “July retail sales provide a first true look at the impact of the Delta variant, and while it is likely too soon to tell, it appears to be having some impact given the results remain relatively flat for the second straight month,” Silver says. Despite the dip, sales of clothing and accessories increased 43.4% from a year ago, while sales at eating and drinking establishments were up 38.4% from July 2020. For the month, the largest drop came in sales of vehicles and building materials, two sectors that have been hit hard by supply chain disruptions. The reading follows mixed news on the mood of consumers. On Friday, the University of Michigan released its monthly consumer sentiment index, which recorded a sharp 13.5% decline in early August, the largest drop since April 2020, when the economy was shut down due to the coronavirus and during the Great Recession in 2008. Nick Note: DO not let them shit you. The drop in Retails Sales Excluding automobiles  declined 0.4% a big number. This is a direct result of the Delta slow down. Right now its not devastating the economy… give it time because stupid is running wild at the summer cluster fucks. And after 6 months vaccines are pretty much useless.  The US is way behind the power curve on the 3rd shot for its populations. The powers that be do not see what is coming. just yet. And do not forget the FED fucked them selves royally. As the economy shucks shut they will raise rates and they will panic slamming on the breaks as inflation soon will be our of control.  The fun is about to begin.

https://youtu.be/jyMH1K–mRE

NEW YORK/LOS ANGELES (Reuters) – Just as American steakhouses are recovering from the first wave of COVID shutdowns, the Delta variant threatens to diminish the appetite for a sector seen as a barometer for full U.S. economic recovery. While many top steak restaurants found new customers by reinventing themselves during the crisis, the comeback of the $5 billion U.S. premium steakhouse sector – known for leather booths, white tablecloths and $60 ribeyes – depends on expense-account-wielding executives resuming fancy business events and affluent tourists flocking to Broadway theaters and other attractions. But travel and group events are again at risk as Delta infections and deaths mount. Several companies pushed back target dates for employees to return to offices. Some big in-person events, including the New York auto show, were canceled. High-end steakhouses are especially vulnerable to the spread of the virus because their traditions – such as lengthy, indoor, three-course dinners – may scare off apprehensive customers. At the same time, the price of beef is soaring, with wholesale prices 40% higher on average in July than a year ago, according to the U.S. Bureau of Labor Statistics. That threatens steakhouses’ profit margins. Several chains say they are better prepared amid the pandemic this year since adding outdoor dining and home delivery, should the latest surge or new government restrictions scare some diners away again. Some also are expanding their bars – higher-margin liquor sales can help offset pressure from pricier beef. Ruth’s Chris Steak House parent company Ruth’s Hospitality Group Inc said in an Aug. 6 earnings call that it “recently” locked in about 10% of its beef purchases to help fend off higher costs. Data from reservation provider OpenTable showed the number of seated diners at steakhouses more than doubled by midyear compared with January, as vaccination rates rose and before the Delta variant became a huge area of concern. But sales at the “premium” steakhouses peaked in early July before falling slightly in the first week of August, according to consultant Malcolm Knapp, who tracks steakhouse data. “We won’t get the lift we had expected before the magnitude of the Delta variant came through,” said Knapp. At Peter Luger Steak House in Brooklyn, New York on Thursday, maitre d’ of 26 years Tom Hobby, 66, checked guests’ lunch reservations on a clipboard as waiters in long white aprons sailed past carrying bread baskets, sole with lemon wedges and sizzling plates of steak to al fresco diners at sidewalk tables. The iconic steakhouse only added outdoor seating and home delivery because of COVID, he said. When its bar finally reopened after the city allowed full capacity seating in mid-May, “the whole vibe changed,” Hobby said. “It wasn’t just about food. It felt like an event.” At Fleming’s, owned by Bloomin’ Brands Inc, takeout and delivery orders were rare before the pandemic. But when many of its dining rooms were shut a year ago, carryout soared to 47% of sales. Now, it’s at about 8% as customers return to restaurants, Chief Executive Officer David Deno said in a July 30 interview. Ruth’s Chris permanently closed some of its restaurants that weren’t compatible with delivery and takeout – a business that went from roughly zero pre-pandemic to as much as 7%. Ruth’s Chris Chief Executive Officer Cheryl Henry said the chain has lured new customers. “We started to see younger, more affluent guests trying Ruth’s for the first time through our takeout and delivery program,” she said in the earnings call. Henry said “it’s a little soon to tell” if holiday bookings, which in recent years have kicked into high gear in September, would be impacted by Delta. Chicago’s Gibsons Bar & Steakhouse restaurants – which are among the nation’s highest-grossing independent restaurants – and other chains like Del Frisco’s Double Eagle Steakhouse started delivering premium steaks and other meats to customers during the first wave of coronavirus – and continue to do so. The Gibsons boxes, which sell for as much as $268, boosted revenue at a time when health restrictions limited diners to delivery and carry-out. But the industry now is closely watching trends in private room bookings – where bills easily run $150 to $250 per person, boosted by expensive wine and whiskey. On a recent afternoon at Fleming’s steakhouse in Edgewater, New Jersey, with airy views of the New York skyline across the Hudson River, Cynthia and Bill Rosen were exploring the dining room as a venue for their son’s planned October wedding. The restaurant charges $55 to $125 per person depending on the menu they select. Fleming’s saw private dining drop to zero from 17% of sales pre-pandemic, but it has come back to 7% currently, Deno said. Keith Beitler, chief operating officer at Landry’s Inc , whose high-end steakhouse brands include Del Frisco’s Double Eagle and Morton’s, was cautiously optimistic as the Delta variant loomed. “If things don’t get any worse, we expect this December to be pretty much normal,” Beitler said. Nick Note: Let them enjoy their party. Restaurants will be shutting right back down again. I cannot see my self ordering a rib-eye for takes away. How would i cut it with a plastic knife or eat it on a paper plate….

The U.S. will reportedly recommend that COVID booster shots be administered to Americans of any age eight months after they have received their second doses, amid the spread of the highly contagious Delta variant. Two sources told the Associated Press on Tuesday that an announcement on a recommendation for a booster shot is expected to take place this week to offer U.S. residents extra protection against COVID as the pandemic continues. Federal health officials have been looking at whether an extra shot will be needed for Americans as soon as this fall, with case numbers having risen in several states over the last month and Florida reporting record positive COVID tests and hospitalizations. Nick Note: Of course we got their first…. Thats my job as your covid  librarian. Why the sudden change by the CDC? Well reality is despite the fact they are not releasing the data… The truth is vaccinated people are getting infected, hospitalized and meeting their maker…. GET YOUR ASS YOUR 3RD BOOSTER SHOT.  And maskup, vitaminup, isloateyp, and testup everyone who comes into your airsapce indoors or out.

[HONG KONG] Asian markets fluctuated in morning trade on Tuesday as investors weighed record gains on Wall Street against fears the resurgent Delta coronavirus variant may put the brakes on the global economic recovery. Major US indices rebounded overnight from a slow start as bargain hunters stepped up purchases – leaving both the Dow and S&P 500 finishing narrowly positive to extend a streak of record high closes for a fifth straight day. Buoyed by those gains on Wall Street, Tokyo opened up 0.5 per cent.

But Mizuho Securities warned that the market will be “weighed down by rising virus cases and geopolitical risks that are pushing the yen higher.”

Markets in China have dragged since a regulatory crackdown on private business by Beijing that has left investors on edge, with Hong Kong fluctuating through the morning session and Shanghai flat. Nick Note: To me the only issue is when the world figures out the covid-19 virus will come back over and over again in waves. And will be in constant mutations. Reality is not enough people are vaccinated and vaccines stop working after 6 months. Which means the pool of vaccinated  and vacine protected people keeps shrinking. Its the Covid treadmill to hell. Its a matter of the sophisticated   people staying on top of this… by vitamingup, maskingup, vaccinatingup and testingup. These are proven, workable, easy to do and inexpensive strategies. As far as the global economy the waves of infections and lockdowns will drive the economy back into recession. Reality is between the people who refuse vaccines and the ones who believe their is no plague and will not engage in rudimentary protections like masking up and testing their is a sufficient pool of readily infectable hosts to constantly generate mutations.  My prediction is like the yearly flu shot their will be a 6 month to 1 year booster shot needed for the covid-19 and its mutations, We will have to modify our life styles and get use to the fact we will need booster shots. Because their are so many infected people who display no symptoms we will have to test everyone who comes into our air space…. Its cheap and easy. As far as the economic ramifications…… Many industries will be forever changed like travel and leisure. We will see constant breakdowns in the supply chain as lockdowns shut down global production in waves. One place that is obvious is the automiblie supply chain. Still plagued by covid shutdown related shortage. Another example is shipping as ports are shut down and so it goes. The markets will eventually price in the fact their is no recovery and the US economy will soon slip into darkness. I believe the next employment report will bear this out….