Sputnik photo
Ediotr’s Note: Just as today’s missive was about to be published, an internet outage prevented that event. Luckily, it lasted a little over an hour before being restored. Sorry for the delay.
Take a good, long look at the photo above. It portrays the leaders of India and China, the two most populous nations on planet Earth, meeting to shake hands in a spirit of cooperation at the SCO (Shanghai Cooperation Organization) this past weekend in Tianjin, China.
It is the future.
Nowhere to be seen are any signs of American influence. Russia, though not present, stands in concert with these great nations. Russia supplies both countries with natural resources, particularly oil, as in energy. Energy to fuel industries, commerce, progress.
Because of its belligerent attitude, the United States will never be a part of the unity of purpose that emerges from the East, nor will Europe. The West sanctions and threatens. The East trades and cooperates. Therein lay the difference in culture that will translate into finance and prosperity. The United States is a failed empire with a failing currency, operated by elected leaders who have been busy raiding what's left of the loot. They'll get most of it, but it won't be satisfactory. The American people will get crumbs, crime, and crack-laced fentanyl, if they're lucky because the future belongs to Asia and the Global South.
Western leaders do not understand cooperation. They only understand brow-beating, fakery, theft, and skullduggery, and that's why they - and the populations of the USA and EU and the UK - are losing.
Americans, those that are smart enough and have the means, will escape the coming collapse, already well underway. The rest will be either cannon fodder or swept up in raids or terror or financial ruin. The only way Americans could have escaped such a fate was to have jettisoned the "leadership" many years ago, but, because Americans are lazy, stupid, and gullible, it never happened, and this is what they now have: a failing government, $37 trillion in debt, an economy running on AI fumes and broken promises, propagandized to the max, supposing that everything is just fine, as long as President Trump can deport the illegals and slap tariffs on everything that comes onto the shores.
Trump, the ultimate poseur, has been a massive disappointment and is likely to remain so. He hasn't fixed anything on the international stage, where work needs to be done. He's considered a buffoon by the likes of Putin, Xi, Modi, and Brazil's Lula. He can't get it done. He's too busy self-promoting and diving headlong into crypto.
An online poster said something to the effect that "when America loses reserve currency status, it's over." Well, that's already happened. Gold is now the reserve currency of the world and there's no going back. The almighty greenback, backed by nothing other than the full faith and credit of the United States (or the Federal Reserve, take your pick) is waning. Gold, and silver, are rising.
As congress returns from a month-long holiday, it has become apparent that a continuing resolution will be needed to avoid a US government shutdown on October 1st, as there is no way congress can realistically pass 12 spending bills by then as there are just 14 legislative days left before the new fiscal year (2026) begins. Maybe these elected representatives might have better spent their time crafting appropriate legislation and preparing an actual budget - something they haven't done for at least 30 years - than vacationing at their gated, beach-front mansions.
Treasury yields advanced on Wednesday, with the benchmark 30-year debt approaching five percent. Yields on UK 30-year bonds increased to 5.75%, already the highest since 1998, while Japan’s 20-year notes climbed to the highest in 25 years. The yield to maturity on Bloomberg’s global gauge of government bonds maturing in a decade or longer climbed to the highest level since July 2009. The bond market is signaling that demand for Western economies' debt is waning. BRICS, and countries aligned with them, no longer believe that Western nations are creditworthy.
Tuesday's trading was revealing, extending the drawdown in stocks from Friday. The three-day weekend had little effect on sentiment. The bear market has resumed. September is traditionally one of the worst months to own stocks.
With the opening bell less than half an hour away, stock futures are mixed but sliding lower. Dow futures are down 110; NASDAQ futures are up 150 in typical dead cat bounce style; S&P futures are ahead by 21 points.
Two companies that reported earnings before the bell are notable.
Macy's (M) beat earnings estimates, returning 41 cents adjusted vs. 18 cents expected. The company issued improved guidance sending shares 15% higher in pre-market trading. Rather amusing for a stock that's been traing in the low teens and is down 20% year-to-date.
On the flip side was Dollar Tree (DLTR), which posted adjusted per-share earnings of 77 cents, well above analyst expectations for 42 cents. Forward guidance was not encouraging, however, sending shares in the pre-market down about seven percent. Dollar Tree has been a stellar performer
Anybody still unconvinced that markets are rigged should take the time to watch Jeremy Szafron's Kitco News interview with Bert Dohmen:
At the Close, Tuesday, September 2, 2025:
Dow: 45,295.81, -249.07 (-0.55%)
NASDAQ: 21,279.63, -175.92 (-0.82%)
S&P 500: 6,415.54, -44.72 (-0.69%)
NYSE Composite: 21,044.87, -106.59 (-0.50%)
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