https://youtu.be/VG-m-eWoarU

• U.S. consumer credit rose $37.7B for the month of June, according to the Federal Reserve, exceeding an estimate of $23B.
• Consumer credit increased at a 10.6% annualized rate to $4.32T in June.
• For Q2, revolving credit rose at a 10.7% annual rate, and non-revolving credit also rose by 8.3%.
• In June, revolving credit increased at a 22% annual rate, while nonrevolving credit increased by 7.2%.
• On a seasonally adjusted basis, total outstanding credit increased by $37B.
• In May, consumer credit increases more than expected in March

(Bloomberg) — U.S. consumer borrowing surged in June by the most on record, reflecting large increases in credit-card balances and non-revolving loans. Total credit jumped $37.7 billion from the prior month after an upwardly revised $36.7 billion gain in May, Federal Reserve figures showed Friday. On an annualized basis, borrowing increased 10.6%. The June gain exceeded all but one estimate in a Bloomberg survey which had a median projection of $23 billion. Revolving credit outstanding, which includes credit cards, climbed $17.9 billion — the second-largest increase on record. Non-revolving credit, which includes auto and school loans, rose $19.8 billion. The broader reopening of the economy has allowed Americans to go out and spend on services such as meals out and travel, activities that were largely curbed during the height of the pandemic. What’s more, vehicle sales remained elevated in June. In the second quarter, outstanding loans for motor vehicle purchases rose $40.7 billion from the previous three months, the Fed’s data showed. Loans for education climbed $4.1 billion. Total consumer credit outstanding increased an annualized 8.8% in the second quarter. The Fed’s report doesn’t track debt secured by real estate, such as home mortgages. Nick Note: we have binge buying. It makes ence we have bing borrowing. Another warning of the bubble. We believe this is result of the overstimuilation of the economy We are blowing bubbles everywhere. So which dart will burst the bubble. My bet is the coming rolling shut downs brought on by the Delta variant. This coming train wreck will do rather nicely. Speeding down the track they do not realize the bridge has washed out.  The markets, politicians, the FED even the CDC are clueless and unable to see the storm clouds on the horizon. We know how this reodeo will go…After all its not our frist one….

Moderna Co-founder and Chairman Noubar Afeyan discusses the progress the vaccine developer has made in the battle against Covid-19 and the different variants that have been emerging. He also talks about whether booster shots will be necessary and vaccine supply shortages.

https://youtu.be/Bgyca3SHnbo

Seven-day hospital admissions average up 40% from last week

Daily Covid-19 cases in the US moved above 100,000 a day for the first time since February, higher than the levels of last summer when vaccines were not available, and came as health officials sounded alarm over lagging rates of vaccination driving the surge of the infectious Delta variant. The seven-day average of hospital admissions has also increased more than 40% from the week before, with health workers describing frustration and exhaustion as hospitals in Covid hotspots were again overwhelmed with patients, almost 20 months into the pandemic in the US. “As we look at our hospitalizations and as we look at our deaths, they are overwhelmingly unvaccinated people,” CDC director Rochelle Walensky said at a briefing on Thursday. About half of all new infections and hospitalizations in the past week were in seven southern states – Florida, Texas, Missouri, Arkansas, Louisiana, Alabama and Mississippi – even though the states represent less than a quarter of the country’s population, said White House coronavirus coordinator, Jeff Zients. In Mississippi on Thursday, there were 3,164 new confirmed cases, the second highest single-day caseload in the state during the pandemic. “We’re seeing a phenomenal increase in daily reported cases of Covid, and this is entirely attributable to the Delta variant, which is sweeping over Mississippi like a tsunami,” said state health officer Thomas Dobbs. The entire state had just eight ICU beds available on Thursday, officials said, and more than 1,147 people were hospitalized with Covid-19.  Nichole Atherton, an intensive care nurse in Mississippi, told Reuters she was planning to resign from her hospital and find nursing work elsewhere because she couldn’t stand watching Covid’s toll on her community. “The first wave was heartbreaking, because there was nothing people could do except stay away from the people they love,” Atherton said about infections last year before vaccines were developed. “This time, there are options.” Three people have messaged her to say they will get vaccinated, Atherton said. At a White House coronavirus briefing on Thursday, officials said as cases surge, efforts were focused on communities with low vaccination rates, which are driving the pandemic. “Across the board, we are seeing increases in cases and hospitalizations in all age groups,” said Walensky. Walensky said the CDC had reported more than 103,400 new cases of Covid on Wednesday, and that the seven-day average for cases was about 89,463 per day. One bright spot is vaccination rates are now increasing again across the US. White House data director Cyrus Shahpar said that on Wednesday there were more vaccinations in a single day than since 3 July, with 864,000 new doses reported administered. Of those, 585,000 were first shots. Of the three vaccines approved for emergency use in the US, Johnson & Johnson only requires one shot, Pfizer and Moderna’s vaccines need two shots several weeks apart, and all three give strong protection. Some of the same states responsible for the increase in cases are also picking up the vaccination pace. The White House said Tennessee has seen a 90% increase in first shots over the past two weeks. Oklahoma saw an 82% increase and Georgia saw a 66% percent increase. “The unvaccinated continue to be the big highway of transmission,” William Schaffner of Vanderbilt University Medical Center told CNN. “So the unvaccinated continue to be the big highway of transmission. The vaccinated, they’re little side streets. Let’s not get preoccupied with that. We need to get more people vaccinated.” A growing number of companies are requiring employees get the Covid-19 vaccine. United on Friday became the first major US airline to require all employees get vaccinated. And defense secretary Lloyd Austin is expected to soon order vaccines mandatory for the military. More than a million service members are fully vaccinated of the roughly two million active-duty, guard and reserve troops, according to the Associated Press. Meanwhile, hospitals are fighting to get financial help from state and federal officials. The Federal Emergency Management Agency (Fema) provides funding to help cover some Covid-related costs at hospitals. But state officials in Texas are denying funding requests from hospitals as cases surge across the state, after providing $5.39bn earlier in the pandemic, which was reimbursed by Fema, according to local news channel WFAA. Nick Note: The Delta variant that is ravishing the planet will not be stopped by the current vaccines (50% of people testing positive are fully vaccinated) or N95 toilet paper masks. Its a vapor spread varient and that means it takes a ULPA nano filter to stop it. As far as vaccines their effectiveness against the Delta mutation drops to 30% protection after 6 months. As far as social distancing its a waste of time… Build up your immune system. use a serious mask, isolate or test everyone who enters your airspace weather its indoors or outside. You might consider Ivermeetin and or Chloroquine. If you need a source for targeted vitamin supplements, Nano filters and the proper masks, and home test kits. We have included package deals combinations of supplements and test kits and or masks/filters at below our costs. Click the link below to Go to our store.

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Aug 6 (Reuters) – The Dow and the S&P 500 indexes closed at record highs on Friday following a stronger-than-expected jobs report, while investors shrugged off concerns over the Delta variant impacting a nascent economic recovery. Nonfarm payrolls increased by 943,000 jobs last month, a Labor Department report showed. Economists polled by Reuters had forecast payrolls would increase by 870,000 jobs. The Labor Department’s closely watched employment report also showed strong wage gains, as employers competed for scarce workers, and a drop in the unemployment rate to a 16-month low. “I think that investors are now saying we’ve got renewed confidence in the economic recovery,” said Sam Stovall, chief investment strategist at CFRA. “And as a result, (investors) are rotating again into the cyclical, the value stocks, as well as the smaller-cap issues”. Around half of the 11 major S&P 500 sectors rose, with financials (.SPSY) leading the growth. The S&P 500 technology sector index (.SPLRCT) fell. Although the three main indexes gained for the week following a stellar corporate earnings season, fears of higher inflation resulting in a sudden tapering in monetary policy have hurt sentiment. Focus now turns to a meeting of Federal Reserve leaders in Jackson Hole, Wyoming, later this month to discuss policy and decide future stimulus strategy. Analysts expect second-quarter profit growth of 92.9% for S&P 500 companies, according to IBES data from Refinitiv. Of the 427 companies in the index that have reported earnings so far, 87.6% beat analyst expectations, the highest on record. In other corporate news, shares of Robinhood Markets Inc (HOOD.O) soared on Friday after a roller-coaster week that has made the online brokerage among the hottest of so-called meme stocks, adding billions to its value.  Nick Note: What they forget to tell you besides the fluke increase of 200,000 in teachers working because of summer school.  The REAL UNEMPLOYMENT RATE U6 is at 9%… Bet never mind. its tme to shot the shitters…..

The FDA granted emergency authorization to over-the-counter antigen COVID-19 test for fully at-home usage. Test in the privacy of your home results in15

• The FDA has approved the Abbots BinaxNOW home covid-19 taken without a prescription and produces results — in about 15 minutes — without the need to either mail in a sample to a lab or wait in line for a clinic.
• Michael Mina, an epidemiologist at the Harvard T.H. Chan School of Public Health, believes if just half the U.S. population were able to test themselves every four days, the country could quickly achieve vaccine-like “herd immunity” by letting people know in real time when they were contagiouss.
• “Scale these tests up, get these into everyone’s home, put these at the door of a restaurant, put these at the door of a gym,” Mina said in a press call  “We change the balance.”

Senator Bill Hagerty, who was kind enough to come on our show a number of times, refuses to vote for unanimous consent to close down further debate and amendments to the infrastructure bill.   Why? Because the CBO just scored it as a $256 billion deficit. In other words, the pay-fors are not paid for and Mr. Hagerty, whom I’ve known for many years, being a man of principle, objects to the deficit score—period.  Now, here’s what I don’t get: According to news reports, 15 other Republican senators were crowding around him on the floor of the Senate to try to talk him into voting for unanimous consent.   Well, what were they thinking? These are Republicans. We’re talking conservatives like Ted Cruz, John Cornyn, John Thune… What were they thinking? There’s already far, far too much Green New Deal in this bill.  This is not free enterprise. This is corporate cronyism, statist capitalism. Nick Note: to much of anything is a bad thing. Half the cars are to be electric even though they do not have the range most people need especially in the winter when the battery capacity drops. Besides the fact their is not the capacity on the grid to charge the suckers and 40% of the generator power to charge the electricity eating monsters comes from coal the biggest green house gas creators on the planet…… The economy is over stimulated with more stupidness on the way. Creating massive embedded inflation and bubbles in the stock market, debt markets and real estate… This will end in a wipeout the likes of which has never seen before////////

Hospitalizations have grown from 12,000, a month ago, to more than 61,000 now, as states like Mississippi say the contagious variant is sweeping over them “like a tsunami.” With coronavirus infections on the rise again in the U.S., hospitals across the country are trying to meet the needs of thousands of patients who are testing positive for COVID-19, and are in need of medical care. One state that has seen a rapid increase in COVID-19 cases and hospitalizations has been Nevada, where case levels have swelled by nearly 200% in the last month, the state’s highest level since February, according to the U.S. Centers for Disease Control and Prevention. “Basically, we’re reliving 2020 in 2021,” Dr. Angie Honsberg, medical director for the intensive care unit at University Medical Center told ABC News. “We, unfortunately, are back to having a very high number of COVID patients. We have had a break for the last two and a half months and unfortunately, now we’re back to feeling like we were back in January in February when close to half of our ICU was critically ill patients with COVID respiratory failure.” Since mid-June, the average number of patients being admitted to the hospital each day with COVID-19 in Nevada has tripled, according to the CDC. This marks the highest number of patients seeking care in more than five months. “The current group of patients seems to get sick quicker than the patients that we saw with the earlier COVID outbreak and we’re also seeing, for the most part, a younger group of patients,” Honsberg said. Some of the patients have very severe pneumonia, Honsberg added. A similar message is conveyed by Robin Ringler, charge nurse in UMC’s Medical ICU, who said that the patients she is seeing in the ICU are very sick, many struggling to breathe, and on ventilators. In fact, she said, some of these patients are so sick “that the doctors currently are talking about doing tracheostomy on them, and that is going to keep them on the ventilator for prolonged periods of time because they cannot breathe on their own.” Ringer’s team is now anticipating more COVID-19 ICU admissions, with a growing number of COVID patients appearing in the emergency room.

“In the last two weeks, we’ve had a real increase in COVID infections in the hospital. Our COVID numbers have gone up so high. They’ve almost, I think they quadrupled from two weeks ago,” Ringler said. “The number of patients seeking treatment has been getting higher every week.”

The increases are a discouraging development, said Ringler, when vaccines were introduced, and cases began to decline, her team thought they may have been finally out of the woods. Nick Note: Its a lot worse then they are telling you. Save Your Life (Salvavida) Mask up, Vitamin up, Isolate up, Test up, We can help you now vitamins, test kits and masks are ona giveaway. fFREE Bonusus galore in our store.

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https://youtu.be/rGeLEKA-N1o

Despite the Congressional Budget Office’s estimate that nearly half of the legislation would not be paid for, senators were racing to move ahead with it. WASHINGTON — Republicans and Democrats rushed on Thursday to line up a Senate vote to pass the $1 trillion bipartisan infrastructure bill, working to clear away the final obstacles despite a finding by Congress’s official scorekeeper that the bill would add more than $250 billion to the federal deficit over the next decade. The flurry of activity came after three days of plodding work on the package, which would devote $550 billion in new money to rebuild the nation’s crumbling roads, bridges and rail systems and fund new climate resiliency and broadband access initiatives. It followed an estimate from the nonpartisan Congressional Budget Office on the cost of the legislation, which was one of the last major hurdles to passing it. The office calculated that nearly half of the new spending — $256 billion — would be financed by adding to the nation’s debt from 2021 to 2031, contradicting the claims of Republican and Democratic proponents that the measure would fully pay for itself. Fiscal watchdogs have warned that lawmakers have used budgetary gimmicks to obscure the true cost, and the findings could give pause to some Republicans who are loath to raise taxes or add to deficits but have agreed to support the legislation. Still, after three days voting on changes to the 2,702-page bill and with their August vacations tantalizingly close, senators in both parties appeared ready to move forward with the bill, a key component of President Biden’s agenda. Their eagerness to do so reflected how, even as Republicans have assailed Mr. Biden and congressional Democrats for pursuing a $4 trillion economic agenda that they say will cause inflation and dire consequences for the economy, many are willing to borrow additional money to pay for a long-awaited infrastructure package that will benefit their states. Mr. Biden and Democratic congressional leaders regard passage of the bipartisan infrastructure legislation as a precursor to their far more ambitious, $3.5 trillion budget plan that is expected to be packed with policies to address climate change, health and education. It will also include tax increases, and is likely to generate unanimous Republican opposition. Once the bipartisan bill passes, Senator Chuck Schumer, Democrat of New York and the majority leader, has said he intends to take up a budget blueprint that would put Congress on track to pass that larger package unilaterally, using a process known as reconciliation that shields it from a filibuster. In a statement defending the bipartisan bill after the word that it would worsen the nation’s debt, two of its leading authors, Senators Rob Portman, Republican of Ohio, and Kyrsten Sinema, Democrat of Arizona, insisted that there were $519 billion in offsets, which would leave only a tiny fraction to be financed by deficit spending. Nick Note: The last thing the US economy needs is more inflationary  stimulus, more government wasteful misguided grand projects and even more debt. You are watching the slow motion destruction of the empire…… Well not so slow anymore…