Welcome back to the channel everyone today, i want to talk about how the economy is still on the brink of collapse as there's gop disappointment with mcconnell's deal that could lead to a delayed or failed vote. Also, i want to talk about some record-breaking data for amc, so stay tuned and let's make some money, but before i dive into the video, if you haven't already be sure to sign up to moomoo using the special thomas james, investing promotion. Not only do you get a free stock worth up to 350 dollars, and not only do you get a second free stock with a guaranteed value of at least fifty dollars, but you also get a third free stock with another guaranteed value of thirty dollars. On top of that, and therefore that's at least eighty dollars in guaranteed free stocks, just for signing up to moomoo and depositing at least a hundred dollars, you could always sell those free stocks and use the cash to get two entirely free shares of amc linked in The description below - and i want to dive straight in with the key information.

So obviously this gop disappointment with mcconnell's deal that could lead to a delayed vote. But firstly, what is mcconnell's new deal well senate majority leader chuck schumer, announced thursday morning that a deal had been reached for an extension of the nation's debt ceiling through early december, a major breakthrough to avert economic disaster that comes after weeks of partisan deadlock over the Issue an aide familiar with negotiations, told cnn that the deal schumer and mcconnell announce on thursday is to increase the debt ceiling by 480 billion dollars. Not to spend it indefinitely or to spend it for another year, just to increase it by 480 billion, which is how much the treasury department told congress it would need to get to december 3rd. Now, obviously, republicans have been insistent that democrats must act alone to address the debt limit through a process known as budget reconciliation.

Democrats have argued the issue is a shared bipartisan responsibility and that process is too lengthy and unwieldy and that the risk of miscalculation would be too high. Therefore, obviously the democrats don't want to do this budget reconciliation, but the republicans have been insistent that that is the only way it will pass and therefore the fundamental dispute still remains making it unclear what will happen in early december and now the problem being is that The rest of the republicans didn't like this new deal that mcconnell has struck several senate republican sources said members of their cautious were surprised and disappointed when mcconnell unveiled the parameters of the deal with schumer on wednesday, one gop senator said you could hear a pin drop When mcconnell shared the detail of his plan to allow democrats to raise the debt ceiling to a fixed number without having to undergo the arduous process of amending the 2022 budget resolution and holding multiple time-consuming voter armors on the senate floor. But now they face the prospect of having to vote on a closer motion to bypass a filibuster, so that democrats can pass the short-term debt limit increase with a simple majority vote. At least 10 republicans need to vote for the procedural motion to pave the way for legislation that would raise the debt limit by 480 billion dollars, which is enough to cover the us government financial obligations until december 3rd.

It says january 3rd, but i think that should be december 3rd and as of lunchtime today, it looked like mcconnell might have a tough time, rounding up enough republican votes to bypass a filibuster and let the two-month debt limit increase come to the floor. Which democrats would then pass on their own national republican senatorial committee, chairman rick, scott, who has been outspoken and raising concerns about the mounting federal deficit? However said he expects there will be a 60 vote threshold for advancing the debt deal now. Obviously, there's 50 democrats, so that makes up most of the 60, but that's why they need the additional 10 republican votes to be able to advance the deal as a live update from about an hour ago. Gop leaders are struggling to find 10 votes to break that filibuster on the debt ceiling hike, but as of 12 minutes ago, schumer has said the senate will vote tonight on a debt limit increase agreement at 7 30 pm eastern standard time tonight.

The senate will vote to break a filibuster on the agreement to raise the debt ceiling through early december, which needs 60 votes to succeed, and therefore schumer has, until about 7 30 to get those additional 10 votes that he needs or it's back to the drawing board. But so now, why is this important for the overall economy? Well, jimmy amc put a nice thread of tweets together, get ready to buckle up everyone. The treasury coffers are now under a hundred billion dollars. Janet yellen warning us to raise the debt ceiling before the next two weeks way before the date we will possibly default on our ux debt for the first time in history.

If we head on over to the daily treasury balance, we can see the us treasury now has under a hundred billion dollars with 99.39 billion, but if the debt ceiling is raised, hyperinflation will follow. If not, then what solutions are left tapering, no matter what they decide to do, it will be too little too late, regardless millions of families from 2018 still can't find homes in the next 30 days. Eviction courts across the country will be full to the extreme maximum. Over 1 million plus new families will be homeless, fighting for those scarce rentals, as it is, unemployment for millions has discontinued on september, 4th 2021 and by that means unemployment benefits.

A tweet from zerohedge shows that seven million americans have lost jobless benefits in the past two weeks as pandemic benefits end the october jobs report will be a whopper, so this chart shows the total benefit since around march of 2020. You can obviously see this giant giant increase as a result of the pandemic, which slowly slowly started tapering off until around. Here, when we had this massive massive gap down and that there was about seven million americans losing their jobless benefits in the last two weeks, evergrant or as i say, evergrande is one of the last main ingredients for global world meltdown 90 of chinese citizens will be Affected they will pull their money from the world markets and especially their investments in the over hyperinflated home prices in the us and in canada, and jimmy thinks the housing bubble will pop all of these high mortgage companies. Huge investment corporations like blackrock and even house flippers have drove the price up 10 over the last year, while sales overall dropped over 25 due to lack of inventory recipe for the perfect storm.

Now i also wanted to talk about amc and economy on the brink good afternoon, fellow apes, i'll keep this short. The us economy is not faring well at all worse than they let on. As you all know, the us pumped in massive amounts of money to fight the pandemic. However, it's not clear just how much money was pumped into the economy until you look at the fed data, so this here is a chart showing the m1 money supply, as you can see through the 60s, the 70s, the 80s, the 90s, the 90s and the 2010s.

The money supply was fairly steady. Obviously it started increasing over the last 10 years, but then absolutely rocketed up as a result of the pandemic and is still going higher as well, and that is a massive spike in the m1 money supply. Now compare this to the velocity of money: this is a chart that shows the m2 money supply or the velocity of money. Now, obviously, you can see through the 60s 70s, 80s and 90s.

It was fairly steady, increased up to the naughties and then back down through the 2010s and then has absolutely plummeted over the last few years. Now the current velocity of money is decreasing and stagnating, despite a recovering economy. For those who do not know, the velocity of money is essentially how many times a single dollar changes hands on average right now, it's a near historic low, with one dollar changing hands 1.2 times on average. Now? What does this mean? Well, with large quantities of cash and little movement, money must be sitting somewhere, it's all being held and safeguarded and not being used in this particular case, with a large amount of owed back rent from the pandemic and current labor shortage.

It's highly unlikely that the money is only sitting in regular american savings accounts, more than likely it's trapped in the equity market, and this is where the story gets interesting. Since the economy is ailing and people wish to protect themselves from the transient inflation caused by the pandemic policy, the stock market is fat and happy. Well, legislators and largely the gop are considering policies based off of the market health, which we established is mismatched from the actual economy's health, thus their choices on policy based on their market health and making the economy even stickier. As an example, we know the s p.

500 has been on an absolute tear over the last year, but we also know that seven million americans have lost their jobless benefits in the past two weeks alone. Unfortunately, this is where the story gets sad, because the market is evidently over inflated. When the market corrects due to overall economic health being poor, there will be massive losses, retirement funds will be lost, 401ks will be, wiped, clean incomes will be ruined, businesses will fall and beyond that things like gold and even bitcoin, may also fall as the inflation rate Plummets, as bitcoin has historically trended, with the inflation rate now i personally think bitcoin might be a good hedge, as is gold and other commodities, but that's neither here nor there many people will lose massive amounts of cash. However, it is here that the planet of the apes will ascend amc and other heavily shorted stocks will be covered, as banks scramble to recover as much as they can in the chaos.

Those funds that are shorting amc also have very long positions on the rest of the wider market and in stocks like facebook and microsoft, and apple and amazon. When all those stocks start falling and their overall asset balance doesn't meet margin requirements, they will be margin called. They will be forced to set off their long positions and they will be forced to cover their shorts and now. Finally, i want to talk about two sets of record-breaking data for amc.

As you can see, this is the amc or text data. The chart is showing estimated short interest percent of free flow and the days to cover, as you can see, the estimated short interest percent of free float is at an all-time high and it looks like we might just be about to break the previous high tomorrow. Also, something interesting i noted is the days to cover has been going up dramatically and it replicates what's happened previously in january and in may, before back in january, we saw the days to cover going up quite massively here, just before the january run-up, and obviously it Then plummeted as new shorts jumped into amc as the price rose again back in april or may that estimated days to cover began moving upwards once again and again, just before the may run up, it started to plummet, as obviously new shorts were jumping in just as Amc started to run up, but between june and september, the days to cover has been fairly fairly low. But that's now, starting to run up more and more as the volume is getting lower, meaning that less shares are traded and therefore it's harder for shorts to cover their position.

This looks like the short's final attempt to get any last little bits of capitulation. They can out of retail investors like you and i they're drying up all of the volume in hopes that we give up all hope and sell off our amc, but as in the past, it seems just they finished drying out all of that volume. That is when amc starts to run upwards when they dried out all of this volume in early january. That's when amc ran and when they dried out all of this volume in late may or mid-may.

That's when amc ran again. I do think we need to see the days to cover reach above what we saw in may and therefore i do still think we have some time to go as the volume continues to dry out and the days to cover continues to increase and also no time To die is outpacing advanced ticket sales of venom. Let there be carnage, no time to die is outpacing ticket sales of universal's, fast, nine and sony's venom. Let there be carnage at the same point in the same cycle.

Venom currently holds the post pandemic error record for highest box office, opening with 90.1 million dollars. Obviously, the bond film was very successful over here in the uk, and it looks like it's setting up to be just as successful if not even more successful over in the states as well. No time to die is also tracking ahead of advanced ticket sales of 2015's. James bond specter, therefore, we could potentially be beating pre-pandemic records as well.

This bodes well for the fifth and final james bond film, starring daniel craig, which box office analysts already predict, will surprise a hundred million dollars at the domestic box office this weekend. This again sounds like even more record-breaking news for amc theaters and for james bond. Specifically, i hope all of you guys out in the states have a great time watching this new bond film, when it's released guys be sure to. Let me know down in the comments below what you think is going to happen with the vote to extend the debt limit.

Do you think this vote is going to be passed and do you think they're going to be able to get all 60 votes and the additional 10 votes required from the republicans and while you're down there be sure to sign up to moomoo using this special thomas James investing promotion linked in the description below and as always guys, if you enjoyed this video, be sure to check out some of my others. Alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted when i upload a new video cheers.