Earnings Better than Expected 200801
August 1, 2020
Emailed to The United Nations, Fed Chair Jay Powell, St Louis Fed President James Bullard, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, and NYT/WSJ/WP/DMN/CNBC on 7/30/20.
Earnings: Housing is on fire, but apparel and restaurants are struggling
PUBLISHED FRI, JUL 31 2020 2:03 PM EDT
Amazon, Facebook, and Apple are only among the most recent examples of a notable trend: earnings much better than expected.
The reopening story may be getting rocky, but one pleasant surprise has been earnings.
They are far noisier than normal, but in general they have been better than expected. Much better. And that is one of the main factors holding up the markets.
With half of the S&P reporting, about 80% of companies have beaten the estimates, well above the historic norm of about 70%.
This notable trend of “earnings better than expected” seems to be a constant drumbeat on CNBC!
The reason that earnings continue to increase and be “better than expected” is because the corrupt U.S. Government is fraudulently printing counterfeit money faster and faster with GAAP basis deficit spending, so we can buy more and more stuff without having to pay for it and so the companies selling this stuff can make more and more money!
The corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class!
So far, this Ponzi scheme has printed $153.5 Trillion of imaginary-counterfeit money!
The corrupt U.S. Government has determined that if they print enough counterfeit money and give it to the U.S. upper class the U.S. upper class will get richer and richer and the stock market will go higher and higher!
This is why we have an economy that looks worse and worse for the U.S. general public while the stock market looks better and better for the U.S. upper class. The corrupt U.S. Government is printing counterfeit money, so far $153.5 Trillion, so the U.S. upper class still have plenty of counterfeit money so they can buy things while the U.S. general public are losing their jobs and having to go to food lines to get something to eat!
The corrupt U.S. Government likes the U.S. upper class a lot more than it likes the U.S. general public!
The following is a link to my 15th Whistleblower Letter to the US Securities and Exchange Commission in an attempt to expose this U.S. Government accounting fraud (USAPonzi) that is causing “earnings to look better than expected”!
SEC Whistleblower Letter #15
As this SEC whistleblower letter explains, this U.S. Government accounting fraud is not only making “earnings better than expected” it is also causing Global Warming and the Coronavirus Pandemic!
The following table gives a summary assessment of the U.S. Government financial condition as of August 1, 2020 as estimated by www.usdebtclock.org.
|Cash Deficit in FY2020
|*GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org August 1, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$27.4 Trillion (>$153.5T-$126.1T = >$27.4T).
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this accounting fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
This is the biggest ($153.5 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White