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The politicians are put there to give you the idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They’ve long since bought and paid for the Senate, the Congress, the state houses, the city halls. They got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear… They spend billions of dollars every year lobbying. Lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else... It’s called the American Dream, 'cause you have to be asleep to believe it.” -- George Carlin

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 WATCH: Americans Go Wild As U.S. Storms To Next Round Of World Cup

 The nation’s capital turned into one giant soccer party Wednesday night as thousands of red-white-and-blue-clad fans packed the National Mall’s Freedom 250 Fan Zone, roaring beneath a Jumbotron with the U.S. Capitol as a backdrop, as the United States knocked off Bosnia-Herzegovina 2-0 to punch its ticket to the World Cup round of 16.

https://twitter.com/i/status/2072501285425676461 Watch on X

 https://www.domigood.com/2026/07/watch-americans-go-wild-as-us-storms-to.html

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Massachusetts Town Warns Residents to Remove American Flags in the Latest Woke Meltdown [WATCH]

 Just when you think the Left in Massachusetts cannot climb any higher on the crazy ladder, the town of Newbury decides to pick a fight with patriotism itself.

Residents of Plum Island recently received letters warning them to take down their American flags because they might annoy some local shorebirds.

Yes, you read that correctly, the town is worried the sight of Old Glory might disturb the delicate feelings of plovers.

 https://www.lifezette.com/2026/07/massachusetts-town-warns-residents-to-remove-american-flags-in-the-latest-woke-meltdown-watch/?utm_source=daily-email-morning

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Kamala Harris Courts Mamdani To Shore Up Support For Potential 2028 Run

 Former Vice President Kamala Harris is courting New York City Mayor Zohran Mamdani and other prominent left-wing figures as she lays the groundwork for a possible 2028 presidential campaign, according to a new report.

 

https://www.womensystems.com/2026/07/kamala-harris-courts-mamdani-to-shore.html

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Sharp downward revision in latest GDPNow model update.

  Big GDP downgrade shows growth slowing faster than expected.

Market may price in more Fed rate cuts soon.

This adds fuel to recession fears even if not full crash.

 

(1.2% does not cover inflation which means that the GDP is actually contracting

which indicates a recession.)

https://citizenwatchreport.com/sharp-downward-revision-in-latest-gdpnow-model-update/

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Bombing babies, assassinating teens, stealing donations from orphans: Israeli violence knows no bounds Daily Update

 A new wave of Israeli attacks in the Gaza Strip on Monday killed eight people, including a woman and her young daughter, and injured dozens amid ongoing violations by Tel Aviv of a ceasefire in effect since last October, medical sources said.

3,465 Israeli ceasefire breaches, as killings and detentions in Gaza mount: Since the “ceasefire” took effect on October 11, the Gaza Health Ministry reported that a total of at least 1,045 Palestinians have been killed and 3,380 injured, alongside 786 reported recoveries of the bodies of Palestinian martyrs. The Government Media Office in Gaza reported 3,465 Israeli ceasefire violations during the 260 days since the truce; 113 Palestinians had been detained during this time.

55,539 aid trucks have entered Gaza out of a planned 156,000; 8,016 passengers have been allowed to cross through Rafah out of 21,800 scheduled travelers, both representing roughly 36% of expected movement.

 https://israelpalestinenews.org/bombing-babies-assassinating-teens-stealing-donations-from-orphans-israeli-violence-knows-no-bounds-daily-update/

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   Mamdani is borrowing from New Yorkers Pension funds and deferring the payments.

  Borrowing from pensions to fund current spending creates future holes. Socialism in practice often needs bailouts and tricks to stay afloat. Taxpayers and retirees end up paying the bill later.

Zohran just said "Socialists just solved years of Capitalist mismanagement"

The State of New York just gave his administration an $8B bailout and he deferred pension payments.

This is bold face lying.

 https://x.com/demcapitalism/status/2072032685766193643 Watch on X

 https://citizenwatchreport.com/mamdani-is-borrowing-from-new-yorkers-pension-funds-and-deferring-the-payments/

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If you still don’t believe Iran will win, listen to the exclusive accounts of how events are unfolding on Jewish televisionIf you still don’t believe Iran will win, listen to the exclusive accounts of how events are unfolding on Jewish television.

On Channel 14, the television channel controlled by Netanyahu, it is claimed that Iran is using “low-frequency electromagnetic weapons” to influence President Trump’s decisions.

They’ve implanted these waves in his brain.

There have been noticeable changes in the president’s behavior.

It’s like telepathy, but electromagnetic.

The Russians have it, the Chinese have it, and the Iranians have it too

 

https://news-pravda.com/world/2026/07/02/2413668.html

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How far will Japan let the Japanese Yen fall?

The Japanese currency weakened to 162.83 against the dollar on Tuesday, its lowest level in 40 years, according to LSEG data. The drop has revived speculation that authorities could reenter the market after spending a record 11.7 trillion yen ($73.5 billion) in April and May buying their own currency. (CNBC)

This brings several economic themes into play of which the simplest is that Japan has managed a competitive devaluation which will boost its exporters. That is one of the reasons that we have seen the Nikkei 225 index rise above 70,000. At this point we have Abenomics in play as whilst sadly former Prime Minister Abe san is no longer with us his economic policies are. Regular readers will recall we did expect a sort of Abenomics 2.0 under Prime Minister Takaichi and here it is.

Only yesterday I looked at how the Japanese Yen had devalued versus the Euro. Let me today bring it closer to home. Because at just under 24 Yen to the Yuan or Renminbi Japan has managed at nearly 20% devaluation over the past year. I have looked in the past at the Pacific currency wars and as Japan is winning I think we see a clear driver of the developments below.

TOKYO—China hit dozens more Japanese companies and several research institutes with trade restrictions, marking another escalation in Beijing’s campaign of economic coercion against Tokyo.

The new measures, announced by China’s Commerce Ministry on Monday, show Beijing isn’t backing down in a dispute that has rumbled on for months. China said the measures announced Monday were aimed at preventing Chinese-made goods from being used to enhance Japan’s military strength. ( Wall Street Journal)

Three years ago on June 30th 2023 I described the situation like this.

We see that the countries with the most mercantilist trade policies are also running a plan for a lower currency. In one case it is a depreciation and the other more of a devaluation but the end game is the same.

As of today Japan has been winning that game and has made a competitive devaluation. As it has not been called a devaluer by the United States there is something else here that will irk the Chinese because they have been in the past.

The Carry Trade

On that same day just over 3 years ago I looked at this.

One big reason I am gung-ho about financial assets is due to the huge ‘Carry trade’ that is playing out in Japan.

1. The Japanese Yen is weak.

2. Interest rates in Japan are negative.

3. You are getting high-interest rates elsewhere.

4. Investors may also find certain equity markets interesting based on earnings yield.

So, borrow in Japanese Yen and invest in financial assets in other countries. ( @AmarAmbami)

Looked at like that it is still in play. There have been what David Bowie would call ch-ch-changes as point 2 is no longer true. But the official rate is a mere 1% which remains a lot lower than elsewhere Switzerland excepted. So you are relying more on a weak Yen than the interest-rate and so far as it was 145 back then you have been winning.Or you could buy a two year bond to cover interest-rate risks at 1.4% and should the Ten continue to fall s it has been then you will be quite happy.

Investors will be less willing to do this based on currency expectations than negative interest-rates but claims the Carry Trade is over need some revision.

Interest-Rates

Bank of Japan Board Member Tamura san spoke about this on the 25th of June.

I believe it is important that, as early as now, the Bank move closer to a neutral monetary policy stance — that is, setting the policy interest rate closer to the neutral interest rate — to avoid a situation where upside risks to prices materialize and the Bank is compelled to raise the policy interest rate rapidly and significantly into a restrictive range beyond the neutral interest rate, and to ensure the policy interest rate is adjusted as smoothly as possible.

As you can see if he was a fast bowler in cricket he would be coming in off his long run-up and he was heading to deliver this.

Anecdotal information from firms,

which I place particular emphasis on, also suggests that the policy interest rate is still far away

from the neutral interest rate……..suggesting that the neutral interest rate is most likely around 2 percent.

If we just stick to the concept of the neutral interest-rate then he is arguing it is lower in Japan than elsewhere. Other central bankers have gone quiet in the issue but in general they used to argue it was in the range 2.5% to 3%. As to the interest-rate itself as I have been pointing out for several years the Bank of Japan has been like the boy who cried wolf or as Elvis Presley put it.

A little less conversation, a little more action please

All this aggravation ain’t satisfactioning me

A little more bite and a little less bark (ah-ah)

A little less fight and a little more spark (ah-ah)

They have crawled to an interest-rate of 1% driven at least partly by fears over their own balance sheet and losses on their large government bond holdings. For newer readers I explained this back on October 2nd 2023.

https://notayesmanseconomics.wordpress.com/2023/10/02/fears-over-the-bank-of-japan-balance-sheet-size-are-driving-economic-policy/

That is why the Bank of Japan has hinted at an increase in QE bond purchases from March next year. As Scotty used to say in the original Star Trek “the engines cannae take it Captain”

Also as I pointed on on the 22nd of June Prime Minister Takaichi is in the process of appointing new Bank of Japan Board Members who will not vote for interest-rate rises.

Yentervention

There is lots of speculation  about this and today there has been an official response.

Foreign exchange intervention by Japan to support the yen two months ago was successful, and some US authorities voiced support, the nation’s top currency official said, as the yen hovers at a four-decade low. (Bloomberg)

He carried on in that vein.

“Judging from how the market moved afterward, I think it clearly had meaning,” Atsushi Mimura, Japan’s vice finance minister for international affairs, said of the action during an interview with Bloomberg Wednesday.

You may note something familiar which is that official moves which lose money as QE bond buying did and presently the recent foreign exchange intervention are just swept under the carpet. You can bet we would be told if they made a profit…

Also one of the signals that intervention was coming was not present.

In the interview, Mimura refrained from spelling out some of the Finance Ministry’s standard currency policies, including a readiness to take bold forex action — meaning intervention — at any time.  (Bloomberg)

Comment

Let me point out that whilst Japan Inc may be happy with this situation the Japanese worker and consumer will not be as they face this.

creating the risk of faster inflation in a country that imports the bulk of its energy and more than half its food.

As to what happens next I got an interesting reply on social media last night.

Shaun, I have been saying for a while BoJ/MoF/ Fed are not concerned USDJPY rise.

1) Japanese exporters are winning again

2) They do not want an abrupt stop to carry trade

3) Under Warsh/Bessent/Trump happy for higher USD/Stocks over 250th anniversary year

4) Yen v Yuan is key

( @RockySarni8180 )

On that road we can expect a weaker Yen and more frustration for China.

 https://citizenwatchreport.com/how-far-will-japan-let-the-japanese-yen-fall/

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“There are two ways to enslave a country. One is by the sword. The other is by debt.” – John Adams

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$WMT (Walmart stock) plunges to its lowest price of the year 

Source: https://x.com/Barchart/status/2072393208235974912/photo/1 Tapped-out consumers in our “booming economy” can’t even afford Wal-Mart, yet the Fed’s Ponzi markets are near their all-time highs. One of these things is not like the other.

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 Why UBS Could Destroy Switzerland's  (and the world's) Economy

  UBS reports $6.99 trillion in total assets under management (AUM) as of 2025, representing its status as the world's largest private bank and the largest wealth manager globally.  This figure includes $4.8 trillion in total invested assets, with $2.1 trillion categorized as fee-generating discretionary mandates and the remainder comprising advisory, transaction-based, and interest-generating assets.

In addition to its wealth management AUM, UBS Asset Management oversees approximately $1.8 trillion in total invested assets, positioning it as a leading Europe-based asset manager following the acquisition of Credit Suisse

 This is smaller than JP Morgan

 As of 2026, J.P. Morgan manages approximately $4.3 trillion in assets under management (AUM).  This figure represents the assets managed by the firm through advisory programs, managed portfolios, and investment products, distinct from the broader $4.4 trillion in total company assets held by JPMorgan Chase & Co.

 https://www.youtube.com/watch?v=q4RBo2Ys8Rw

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 NYC struggles to power air conditioners after Democrats shut Indian Point nuclear plant.

  

 Indian Point nuclear shutdown in 2020 caused big rise in fossil fuel power.

City now faces power issues during heat waves.

Post mocks left wing energy policies as failed collectivism.

Links to tweet showing the connection.

 Highlights irony in green policies hurting reliability.

Anti nuclear push by Democrats created exactly the energy shortages they now complain about.

See also  Trump just opened the door to another nuclear negotiation

 Shutting reliable plants forces dirtier backups and higher costs.

Real world results show why ideology over engineering fails hard.

 

https://citizenwatchreport.com/nyc-struggles-to-power-air-conditioners-after-democrats-shut-indian-point-nuclear-plant/#more-226723

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 TRUMP PAUSED WAR TO MANIPULATE OIL PRICES

 Refineries are paying $110 for a barrel of oil.

https://www.youtube.com/watch?v=4QRpMjgE-pw

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Why Turkey Is 3 Weeks From Economic Collapse

Oil imports are killing Turkey's economy.

(It would help Turkey if they cut off Israel's oil. Then they could rely on

cheaper pipeline oil than rely on tanker imported oil.)

 https://www.youtube.com/watch?v=Z12xjmBUDGk

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