Advisor and Economist, Stonebrook Wealth Partners Securities offered through LPL Financial, Member SIPC https://nitter.cf/t.co/SNc747H3uJ
Florida, USA
Joined February 2009
- Tweets3.8K
- Following784
- Followers468
- Likes8.8K
Joe Vidueira retweeted
When the government and the media report GDP growth, they always annualize the quarterly number. So 0.5% growth during a quarter is reported as 2% annualized growth. If they did the same thing with inflation, the 0.6% rise in Sept. would be reported as 7.4% annualized inflation.
Joe Vidueira retweeted
The reason western values are superior are because they laid out ethical ways of confronting, controlling, and mitigating harmful behaviors: due process, trial by jury, and standards for treatment of even the guilty. There’s a respect for human life not found in other cultures.
The MAGA crowd claims to defend westernization, but they chip away at the very values it’s built upon daily. These people are spiritually third world. Impulsive, reactive, emotional, blood thirsty, and animalistic.
Joe Vidueira retweeted
We are seeing a total failure of MMT around the globe.
QE and deficit spending (after 2008 and during COVID) was basically an attempt at Modern Monetary Theory (MMT). In a nutshell, MMT says that we can print and deficit spend at will without any fiscal or economic complications.
So, central banks held interest rates at zero, forcing markets to accept absurdly low rates. At the same time, these central banks printed massive amounts of money and absorbed a lot of this new debt themselves.
MMTers said we could do this with no inflation. Clearly they were wrong. Friedman taught us exactly what would happen, and it did. Inflation took off. The result, central banks were forced to raise rates and stop expanding their balance sheets.
So far, governments have resisted fiscal sanity and are still running massive deficits even though central banks stopped funding them.
The result? In the past 3 months, 10-year bond yields are up 50 bps in the UK, 90 bps in France, 72 bps in the US, and more than 40 bps in Germany.
Governments were already too big in 2008, but this crazy experiment over the past 18 years has pushed things toward a breaking point.
France proposes to freeze government pay and pensions, and raise some taxes and we should expect more movement toward austerity in other countries soon.
MMT is basically Keynesianism on steroids. It didn’t work. The fix is a revival of Austrian, supply-side economics. Smaller governments, lower tax rates, tighter money, and less regulation. Some will say this is a pipe dream. But it is the only way out.
Joe Vidueira retweeted
I stand by my forecast: Gold’s secular bull will peak out at $6,000-$7,000/oz.
BUY GOLD, WEAR DIAMONDS.
nitter.cf/KobeissiLetter/status/…
BREAKING: Global central banks acquired +39 tonnes of gold in August, marking their 5th consecutive monthly purchase.
This follows +23 tonnes in July and +52 tonnes in June.
China again led demand, adding +20 tonnes and bringing its year-to-date purchases to +80 tonnes.
China’s official gold reserves have now risen to a record 2,387 tonnes, or 9% of its total FX reserves.
Furthermore, Poland bought +8 tonnes, lifting its year-to-date purchases to +98 tonnes and total gold reserves to a record 648 tonnes.
So far in 2026, central banks have acquired +170 tonnes of gold.
Central banks continue to aggressively accumulate gold.
Joe Vidueira retweeted
Well, well....
1. Judy Shelton, sound money advocate extraordinaire gets appointed as Special Advisor to the US Treasury.
2. Trump says inflation is a solution for the large debt burden.
3. Axel Merk (gold advocate and manager of $1B gold stock fund) meets with Fed Chairman Kevin Warsh in August.
Anyone else sensing a pattern here?
Joe Vidueira retweeted
Spain's housing crisis was created by insane legislation, taxes, and regulation asphyxiating supply. It was exacerbated by laws defending squatters and penalizing owners.
Meanwhile, government collects record receipts from soaring property prices.
What does the government propose? A law that doubles down on all the above.
Joe Vidueira retweeted
Today is the Feast of the Archangels — Michael, Gabriel, and Raphael.
I say the St. Michael Prayer a lot, especially on the hard days.
If you need a defender today too, pray this with me:
St. Michael the Archangel, defend us in battle. Be our protection against the wickedness and snares of the devil. May God rebuke him, we humbly pray, and do thou, O Prince of the heavenly hosts, by the power of God, cast into hell Satan and all the evil spirits who prowl about the world seeking the ruin of souls. Amen.
Joe Vidueira retweeted
Gold and silver are hammered this morning on the continued rise in bond yields. Gold is down just under $140 and silver is down almost $3. But a bond bear market is very bullish for precious metals, as it means a weaker U.S. economy, rising budget deficits, and higher inflation.
Joe Vidueira retweeted
Stop blaming corporate greed — The real reason you can’t afford anything is fake money | OP-ED by Ralph Benko, a widely published political commentator trib.al/VjWJquR
Joe Vidueira retweeted
Trump threatened that if the Fed doesn't lower interest rates, he'll cut off all trade with countries that run trade surpluses with the U.S. He claims that's better than tariffs. This would crash the U.S. economy, as a shortage of goods would send prices and unemployment soaring.
Joe Vidueira retweeted
It's ridiculous to claim that Treasury yields aren't rising due to increased inflation expectations, a loss of confidence in U.S. fiscal policy, declining Fed credibility and questions over its independence, or de-dollarization, as those are the most obvious reasons for the rise.
Joe Vidueira retweeted
Markets are reacting to Warsh's hawkish Jackson Hole speech. But how does that speech change anything? Warsh has been talking tough about fighting inflation since before his confirmation, yet has repeatedly failed to hike rates, and continues to expand M2 and the balance sheet.
Joe Vidueira retweeted
Rising bond yields are the market's way of telling the U.S. government it has a debt problem that needs to be solved before a crisis hits. Just as pain lets you know there is a medical problem that needs attention, if you simply numb the pain so you don't have to feel it, the underlying condition gets worse. If it gets bad enough, it can be fatal. Numbing the pain is precisely what the Trump administration is trying to do now with Operation Twist. As a result, the eventual sovereign debt crisis may be fatal for the dollar and the U.S. economy.
A timely lesson about modern monetary history:
mises.org/mises-wire/central…
Joe Vidueira retweeted
In defending Scott Bessent’s foray into the long end of the Treasury curve (Mr. Intervention), Donald Trump had the temerity to publicly lament that interest rates are “artificially high” and “ridiculous.” But what is not “artificial,” and is truly “ridiculous,” is that during his time in office, the national debt has ballooned by nearly $12 trillion. In other words, 30% of all the federal debt the United States has incurred in its 250-year history has come under his watch. Can’t blame Joe Biden for this one.
Joe Vidueira retweeted
Treasury bond yields have already resumed their rise. Treasury is going to need a much bigger boat to stop this train. That means not only a much larger buyback than what has already been announced, but the Fed will have to join the party with an official QE program. Got gold?
Joe Vidueira retweeted
The U.S. national debt is over $40 trillion, with $11.58 trillion added on Trump's watch, the most of any president. Obama is in second place with $9.32 trillion, but Trump has almost 2.5 years left to add to his lead. Biden still holds the single-term record with $8.47 trillion.
Joe Vidueira retweeted
On our national debt, the average coupon on maturities beyond ten years is 3.44%. That's way below current long-term rates. Buying that debt back now is like a homeowner refinancing a 3.44% 30-year fixed-rate mortgage into a 4% one-year ARM. Who would be dumb enough to do that?
