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  • Squeeze Europe,, banks & drugs... The Crumble... living on the street

    I found a few interesting articles. The first concerns the fate of Teresa May.
    "The UK government is now paralyzed by electoral politics just when the BREXIT negotiations are just getting underway.

    Make no mistake about it, if May is defeated in the coming vote, we will see a major shock wave around the globe ramifications for the security of Europe as a whole."
    This side of the pond is pretty well paralysed also.
    Here is the very interesting part, VERY telling.
    "If the Labour Party wins a new general election thanks to the students, they are clueless as to what his far-left brand of Marxism will do. Corbyn has, among other things, suggested the UK should get rid of its nuclear weapons and withdraw from NATO. It is Britain who supplies the backbone to NATO in Europe. Should Corbyn actually act on these radical ideas, he will certainly destabilize Europe as a whole. However, the mere expectation and/or uncertainty of a Corbyn-led UK would further unsettle every aspect of Britain from the political to the economic future of the nation. Corbyn is proudly a Marxist and he will take Britain back to the Dark Ages."

    Think about it. Who would Britain ever use their nukes against? Ireland, perhaps? NATO was used to completely trash Yugoslavia. That was their crowning achievement recently. NATO is now in the process of trying to force Russia into a war. NATO is doing it's best to screw up MENA as much as possible.
    "take Britain back to the Dark Ages."
    Britain is being completely over run by invaders who rape and pillage. They have NOTHING to lose by running away from foreign entanglements.
    "security of Europe as a whole." The security of Europe is being purposely destroyed by a handful of politicians who are hard at work to accomplish population replacement.
    https://www.armstrongeconomics.com/i...e-of-collapse/

    Everybody knows that the banks run the drug business. HOW MANY banks are involved?
    " Sindona teamed up with IOR and the Vatican’s chief US banker Continental Illinois to buy Milan-based Banca Privata Finanziara (BPF) and Geneva-based Banque de Financement. The consortium launched Moneyrex in Rome, which over 850 international banks used to move Italian mafia and P-2 heroin proceeds out of Italy. Much of this was laundered through the Vatican to Switzerland. "
    The article goes into a lot of detail about the murder of the Pope and MANY others.
    https://hendersonlefthook.wordpress....mes-of-zurich/

    Not surprisingly, The FED answers to no one in government. Exposing Our Lawless Central Bank | Zero Hedge

    "What we are witnessing is better described as a crumble than a collapse."
    "Whatever our globally heralded ‘constitutional’ political system might once have been, it clearly no longer is. It’s regressed to the point where it’s every man, woman and child for themselves. Confirmation of our decline springs from study after global study showing America’s solid hold on the lower middle of world rankings…and sinking fast."
    "nce we crest the peak and start our descent, we cannot hold on tight enough nor do we have the courage to let go and change course. Therefore we drive our own ship of state directly onto the rocky shoals. The nation simply follows the individual in the same manner the body follows the direction of the head."

    "Neither you nor I can personally save those people begging on the side of the road. The socioeconomic system is failing because we are failing morally, physically, mentally, emotionally, spiritually, as individuals, as a community and as a nation."
    The Greater Depression | Zero Hedge
    You should read the whole article. It's about all the street people who have really hit bottom. Part of this is because of the breakdown of the family.
    If the bond market does indeed collapse, there will be many millions more people who fall through the cracks and die.

    Crumble rather than collapse, http://twoicefloes.com/the-tif-catal...an-a-collapse/
    The EU is fast going broke. Their solution, drag in more States and tax the snot out of them, https://www.rt.com/business/389675-e...-denmark-euro/

    "The gold standard was a hard task master, all right. You couldn’t devalue your way out of trouble. You couldn’t run up a big domestic budget deficit. The central bank of a gold-standard country (if there was a central bank) was charged with preserving the convertibility of the currency and, in a pinch, serving as lender of last resort to needy commercial banks. Growth, employment and price stability took their own course. And if, in a financial panic or a business-cycle downturn, gold fled the country, it was the duty of the central bank to establish a rate of interest that called the metal home. In the throes of a crisis, interest rates would likely go up, not down."
    You also could not have long wars.

    "The modern sensibility quakes at the rigor of such a system. Our forebears embraced it. Countries observed the gold standard because it was progressive, effective, civilized. It anchored prices over the long term (with many a bump in the short term). It promoted balance in international accounts and discipline in domestic ones. Great thinkers -- Adam Smith, David Ricardo and, yes, John Maynard Keynes himself in the wake of World War I -- extolled it.

    The chronic problem in gold-standard days was the one that continues to bedevil us moderns: how to maintain a stable currency when lenders and borrowers run amok."
    "The story of American finance, he contended, was the story of paper credit subverting sound money:" "It’s the cause of panics under monetary systems both metallic and paper. Which is to say that we earthlings will never achieve financial perfection. It seems that the trouble (or, at least, one trouble) with money is credit and that the trouble with credit is people."
    http://www.gata.org/node/17449/print

    BAD news for the bankers, http://www.cnbc.com/2017/06/20/oil-j...ing-to-30.html

    Comment


    • Plant a garden instead of pounding your head on a wall

      The B.I.S. has a warning, ho hum. Next global financial crisis to hit with a 'vengeance', warns BIS

      "The following are the brutal truths that the modern generation will have to face as the U.S. and the rest of the world deals with the ongoing global financial crisis:

      1. The slate needs to be wiped clean and a new sound monetary system introduced.

      2. That will require the elimination of all debt, deficits, unfunded social entitlements, the US Dollar as Reserve currency, and the big one, the $600 trillion of derivatives.

      3. To eliminate these problems by default and deflation will cause a banking collapse and untold economic pain, leading to riots and political change.

      4. Politicians are appointed for relatively short terms and opt for the easy solutions. While politicians continue to have the ability to create new money at will, they will do so in order to prevent a melt down on their watch. Consequently the odds point to governments wiping the slate clean by generating enough new money to eventually destroy their currencies."

      SO MANY people making this claim. The quantity of money theory is NOT working as planned. When they pile up debt and call it money, they INCREASE the drain of interest,,,debt service. Effective deflation of the circulating money supply. When they drive down wages,,, effective deflation of the circulating money supply.
      The Moses Generation & the Future of Gold - munKNEE dot.com

      WAGES are the link between money and the economy. As the rich extract more and more, they just roll it into investments. It does NOT circulate. The more that is invested, the less circulates. The lower the wages,,, the less circulates in the consuming economy. The less employment, the less circulates BY THE CONSUMER. The money goes round and round in the upper loop. It does NOT flow into consumption. Assets are traded by the $ trillions every day but, the VELOCITY OF MONEY IS FALLING.
      Is this linkage so hard to understand?

      Illinois is ahead of the curve. Just look at the graph on this page.
      Illinois debt is about to be rated 'junk.' What that means
      Keep in mind that Illinois is in legislative deadlock. Will this happen in D.C when the debt-ceiling and budget battle wars are started?

      "Psychology Today asks Will Humans Be Necessary?

      Will automation kill as many jobs as is feared? A widely cited Oxford University study predicts that 47% of jobs could be automated in the next decade of two. Price Waterhouse pegs the U.S. risk at 38%. McKinsey estimates that 45% of what people are paid for could be automated using existing technology!

      No less than Tesla’s Elon Musk, Bill Gates, and Stephen Hawking fear the loss of jobs will cause world cataclysm."
      https://mishtalk.com/2017/06/24/how-...id-15-to-work/
      From India;
      2012, "Govt sets target to skill 500 million people by 2022"
      2017 "Govt abandons goal of training 500 mn people by 2022"

      Government mumbles about creating jobs. One out of eleven in the beltway is a lawyer. That's all we need,,, more parasites. Even GOV can't keep up with the flow of parasites coming from the schools.
      The national unemployment rate for law graduates has grown for the sixth year in a row to a whopping 15.5 percent, according to a report by the National Association for Law Placement.Jan 13, 2015
      Mamas, Don't Let Your Babies Grow Up to Be Lawyers | HuffPost

      Wages are crashing. Consumption is crashing. Oil is crashing. Velocity of money is crashing. Banking is crashing. The CBs attempt to fix the problem by pumping more debt into the upper loop.
      The wrong theories,,, the wrong remedies. Maybe it is all part of a general de-population plan. The remedies are not working. You have to be prepared to get out of the way of the crashing train.
      Last edited by Danny B; 06-27-2017, 12:11 AM. Reason: spelling

      Comment


      • News on timing the market crash

        I'll start with Armstrong because he has the best record for accuracy.
        "As we head into 2018, this may actually present not the trade of a lifetime, but the trade of several lifetimes."
        If somebody wins, somebody else has to lose.
        "At this year’s 2017 World Economic Conference in Orlando, Florida, we will be beyond the election in Germany. Merkel is deliberately refusing to talk about the pension crisis that is brewing in Germany until after the election of course, since there is no solution."
        EVERYBODY knew that Brexit would fail and Trump would not get elected. Maybe Merkel will get the boot.
        "This event is timed so once the German elections are concluded, then the real truth about the financial crisis coming in 2018 will start to make its appearance off center stage.

        We will be looking at the fate of the currencies, the coming slingshot and Phase Transition, and the consequences of what is really happening outside the USA that will drive the markets absolutely nuts come 2018."
        https://www.armstrongeconomics.com/a...c-conferences/

        Here is an article that demands a lot of thought.
        " The one thing we can know with certainty is it won't be easy to profit from the crash.
        After 8+ years of phenomenal gains, it's pretty obvious the global stock market rally is overdue for a credit-cycle downturn"
        " Hedge Fund CIO Sets The Day When The Next Crash Begins.
        Next February is a good guess, as recessions and market downturns tend to lag the credit market by about 9 months.
        My own scenario is based not on cycles or technicals or fundamentals, but on the psychology of the topping process"
        Charles Huge Smith goes through EVERY detail of the psychology of the markets as they are correcting. The trading bots may or may not go along with the program. John Hussman thinks that the algos will try to make money on the downward slide. Will the algos be the only ones buying? Are they programmed for crash mode?
        Of Two Minds - A Stock Market Crash Scenario

        OK, so Armstrong will have everyone rushing to one side of the boat. People reading Smith will be trying to time the TOP. BUT, Armstrong is calling for a collapse of State finances. I'm glad that I don't have to figure out how to sail through a maelstrom spiked with Greek Fire.

        China is going to have to do some adjusting, "Moody's estimated that while the government budget deficit in 2016 was "moderate" at around 3 percent of gross domestic product (GDP), it expected the government's debt burden would rise toward 40 percent of GDP by 2018"
        Singapore fund Temasek: How a financial crisis in China might play out

        The B.I.S. says that the economy is in such good shape that the various CBs can slam on the brakes when it comes to credit creation.
        Push on with the 'great unwinding', BIS tells central banks | Reuters
        "the BIS said policymakers should take advantage of the improving economic outlook "
        "Inflation is certainly not the only variable that matters ... and we should keep one eye at least on financial developments," Shin said."
        RIGHT, ignore employment
        "The policy challenge is to take advantage of the current tailwinds to put the expansion on a sounder footing," said Claudio Borio, head of the BIS monetary and economic department."
        Those "tailwinds" are howling through the corpse of the hollowed out economy.
        "The BIS’s financial results, which were also published on Sunday, showed the Swiss-based bank had made a net profit $1.124 billion over the year to March 31 and had a balance sheet worth $329 billion."
        OK, so the B.I.S. "earned over a $1.124 billion. Just what did they do for that?

        6/26 Even the Fed’s own national economy activity index collapsed – Zero Hedge NO problem, things are fine in Switzerland.
        6/25 It’s a gold-rush mentality in bitcoins; many are at risk of losing big – Economic Times One day later;
        6/26 Crypto-correction: Bitcoin, Ethereum dive as market sheds $13 billion – Coindesk
        6/26 Bitcoin is tumbling – Business Insider

        Comment


        • Another brave soul is predicting the date of the financial apocalypse.
          "But we suspect the end must be near when the likes of Goldman Sachs, JPMorgan, Citi and Bank of America all implore their clients to “go to cash.”
          "Deutsche Bank economist Michael Biggs, who coined the term, says the credit impulse gives a highly accurate EKG of the beating economic heart.
          And it’s currently flashing cardiac arrest."
          Ah, but the date.

          We’ve held you in suspense long enough, dear reader…
          The date of apocalypse:
          Feb. 14, 2018 — Valentine’s Day.
          https://dailyreckoning.com/revealed-...ng-apocalypse/
          The claim is made that the "tightening" from the FED wills set things off. The FED was REAL generous when obummer was in office. Can Trump stop the tightening? Would it make a difference? Would this just postpone an even bigger crash?

          "In its simplest form, the Phillips curve is a single-equation model that describes an inverse relationship between inflation and unemployment. As unemployment declines, inflation goes up, and vice versa. The equation was put forward in an academic paper in 1958 and was considered a useful guide to policy in the 1960s and early 1970s." Before computers and CNC machines.
          "Economists began to tweak the original equation to add factors — some of which were not empirical at all but model-based. It became a mess of models based on models, none of which bore any particular relationship to reality. By the early 1980s, the Phillips curve was no longer taken seriously even by academics and seemed buried once and for all. RIP.

          But like a zombie from The Walking Dead, the Phillips curve is baaaack!

          And the person who has done the most to revive it is none other than Janet Yellen, the 70-year-old liberal labor economist who also happens to be chair of the Federal Reserve."
          "Unemployment in the U.S. today is 4.3%, the lowest rate since the early 2000s. Yellen assumes this must result in inflation as scarce labor demands a pay raise and the economy pushes up against the limits of real growth."
          "The Fed’s bungling should come as no surprise.
          The Federal Reserve has done almost nothing right for at least the past twenty years, if not longer.
          "It’s time to load up on Treasury notes, gold and cash and lighten up on stocks. The Fed may be the last to learn about deflation,"
          Armstrong said that sovereign bonds would collapse. I'll pass on the Treasury Notes.

          This next site takes a lot of reading. It is worthwhile because it conveys a LOT of information. one of the big "traps" for investment managers is; we have global capital flows but, they only look locally. It is either laziness or inability to comprehend the markets.
          New York
          – Head of a Derivatives Trade Desk had no idea that interest rates in Germany were negative – “truthfully, we only monitor the US market.”
          Chicago
          – Senior Bond Manager – “we only watch the FED, really, everyone else doesn’t matter.”
          Toronto
          – Bank Economist – “housing is the only thing anyone is talking about and asking about these days.

          For a number of reasons, the vast majority of investors around the world solely look at the stock market. Everything good and everything bad always comes from and away from the stock market. In truth – the grease that keeps the world’s mighty economy and debt eating machine chomping through the night is ladened with interest rates. Yet, few are able to see, speak or even dream about interest rates. The big banks are especially unable to articulate their importance"

          " Unfortunately, perspective is formed on the basis of subjectivity. And to demonstrate just how poor perception can alter reality, consider recent conversations we had with other managers around the world:
          New York
          – Head of a Derivatives Trade Desk had no idea that interest rates in Germany were negative – “truthfully, we only monitor the US market.”
          Chicago
          – Senior Bond Manager – “we only watch the FED, really, everyone else doesn’t matter.”
          Toronto
          – Bank Economist – “housing is the only thing anyone is talking about and asking about these days.” To put this another way, and once you grasp this all-important piece of knowledge, you’ll better appreciate all the gibberish spouting from the big-bank-lead talking heads – there are very few, true global investment managers in the world. "

          Money printing, https://html1-f.scribdassets.com/56l...a18017c226.jpg
          Velocity of money, https://html1-f.scribdassets.com/56l...a18017c226.jpg
          THAT definitely wasn't in the models.

          Mario Draghi has put a LOT of lipstick on the Italian pig, https://html1-f.scribdassets.com/56l...2311a7b746.jpg

          Why has Mario Draghi worked so hard applying lipstick to an obvious financial pig, when it should simply let nature take its course? The answer – removing the make-up, will spell the end of the Eurozone. And, there are Trillions of dollars at stake and thousands of government jobs at stake, and a tonne of pride at stake"
          So, what happens to the jobs and $trillions when it finally blows?

          "To put it mildly, stakes in the Italian crisis were astronomically high. If a solution wasn’t found, Italy would plunge into financial chaos by the time the first espressos were being served the next morning. And, if Italy plunged into chaos, so too would the rest of Europe, North America, Asia and anyone else who used money"
          So, postponement will just fix everything.

          " This is for 2 reasons: 1)With the Euro intact, Germany will continue to make money hand over fist until the end of time. 2)Should the Euro break – Germany becomes a DOUBLE loser with its economy tumbling AND it losing BILLIONS owed to it by Italy et al"
          https://www.scribd.com/document/3522...ook#from_embed
          The article is great for a worldview. It is focused in part on Toronto real estate. You really should take the time to read the whole thing.

          Comment


          • The one party...European pension funds...Money creation

            Background;
            Ralph Nader writes about the exact moment that the Dems sold their (populist) soul. "The first big one was in 1979. Tony Coelho, who was a congressman from California, and who ran the House Democratic Campaign treasure chest, convinced the Democrats that they should bid for corporate money, corporate PACs, that they could raise a lot of money. "
            "So they knocked out foreign and military policy, because they were getting money from Lockheed and Boeing and General Dynamics and Raytheon and so on. Even Elizabeth Warren when she had a chance started talking about maintaining those contracts with Raytheon. Here’s the left wing of the party talking about Raytheon, which is the biggest corporate welfare boondoggle east of the Pecos."
            OK, so that is how we got our ONE party,, the War party.

            Kunstler writes about the current state of the democratic party. You will shudder.
            The Technicolor Swan - Kunstler
            Regulatory capture is the ooze in the swamp that guarantees everybody will be sucked in. Only the eminently corruptible need apply. These are the people that we must depend on when the markets crash. They are eminently qualified to participate in the swamp but, have no qualifications beyond that.

            “Yellen is expressing confidence that banking is stronger, economic growth is relatively firm and there’s not going to be a crisis in our lifetime,” said Dennis Debusschere,"
            https://www.bloomberg.com/news/artic...s-markets-wrap

            The European pension funds are BROKE. Naturally, Merkel doesn't want this known until after she is re-elected. BUT, with the net, news gets around.
            "The total value of unfunded or underfunded government pension liabilities for 20 countries belonging to the Organisation for Economic Co-operation and Development (OECD) — a group of largely wealthy countries — is $78 trillion"
            Good thing that they are wealthy.
            "Citi noted that Germany, France, Italy, the U.K., Portugal and Spain had estimated public sector pension liabilities that topped 300 percent of gross domestic product. "
            Rich countries have a $78 trillion pension problem

            Globalization tries it's best to get rid of all import tariffs. That means that only the lowest-cost producer will get any business. BUT, there is another factor. The lowest-cost financing will also bring great reduction to the final cost of manufactured goods. As long as the central bank never tries to liquidate it's portfolio, it has issued debt-free money. Japan keeps on printing and has never blow up. China has that option also. If money is created to keep the productive economy moving, it never outruns wealth creation by very much. If money is created to keep the speculators going, credit will always outrun actual wealth creation.

            Charles Hugh Smith writes about an alternative.
            " Let’s say an individual has saved $100,000 in cash. He keeps the money in the bank, which pays him less than 1% interest. Rather than earn this low rate, he decides to loan the cash to an individual who wants to buy a rental home at 4% interest.

            There’s a tradeoff to earn this higher rate of interest: the saver has to accept the risk that the borrower might default on the loan, and that the home will not be worth the $100,000 the borrower owes.

            The bank, on the other hand, can perform magic with the $100,000 they obtain from the central bank. The bank can issue 19 times this amount in new loans—in effect, creating $1,900,000 in new money out of thin air. "

            " This is a simplified version of how money is created and issued, but it helps us understand why centrally issued and distributed money concentrates wealth in the hands of those with access to the centrally issued credit and those who have the privilege of leveraging every $1 of cash into $19 newly created dollars that earn interest.

            Imagine if we each had a relatively modest $1 million line of credit at 0.25% interest from a central bank that we could use to issue loans of $19 million. Let’s say we issued $19 million in home loans at an annual interest rate of 4%. The gross revenue (before expenses) of our leveraged $1 million would be $760,000 annually --let’s assume we net $600,000 per year after annual expenses of $160,000. (Recall that the interest due on the $1 million line of credit is a paltry $2,500 annually).

            Median income for workers in the U.S. is around $30,000 annually. Thus a modest $1 million line of credit at 0.25% interest from the central bank would enable us to net 20 years of a typical worker’s earnings every single year. This is just a modest example of pyramiding wealth. "
            " I hope you understand by now that the current system of issuing money and credit benefits the few at the expense of the many. The vast privilege and the equally vast inequality it generates is the only possible output of the system.

            This inequality cannot be reformed away; it is intrinsic to centrally issued money and private banking with access to central bank credit.

            The problem isn’t fiat money; it’s centrally issued money/credit that is distributed to the few at the expense of the many."
            Of Two Minds - If We Don't Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable
            Smith goes on to endorse universal basic income. I just don't see it working. The vast majority of people would just skip work.

            6/27 Italy’s newest bank bailout cost as much as its annual defense budget – Zero Hedge That was only 2 banks.
            6/27 Senators considering breaking Fannie-Freddie into pieces – Bloomberg It's going to go up in smoke before long, anyway.

            Comment


            • Universal basic Income OR mass death

              There are reportedly 102 million Americans of working age who are not employed. This is AT THE SAME TIME that the FED & Treasury have pumped in many $ trillions into the upper loop of the economy. The more money they print, the lower the velocity of money. It is slowly becoming apparent that all the efforts of the PTB are stupid and wasted. They have managed to lock many millions of people out of home ownership and even the POSSIBILITY of having a family.
              OK, so what happens to employment AFTER the FED can no longer pump in money to support the 51% of the people who rely on a check from GOV?

              It is becoming painfully obvious that the PTB have completely failed. There are increasing calls to pump debt-free money directly into the lower loop. It may have some bad effects but, having the majority of the population without support of any kind would bring a quick end to America. The idea du jour is universal basic income.
              I posted the arguments in favor from C.H.Smith Of Two Minds - If We Don't Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable
              Zukerberg, Musk and Modi, et al, have all called for UBI.

              Here is an excellent vid from Yanis Varoufakis addressing details that I never even dreamed about. The guy is SMART and ARTICULATE.
              https://www.youtube.com/watch?v=22eQ9iLBfY4

              The West is going to crash very badly. If the East uses debt-free money, The West will not be able to export much of anything. Financialization gives us a 100% markup on everything (on Average). Without the money pump into the upper loop, upper loop jobs will disappear RAPIDLY. At least the lower loop produces something. That is more than you can say for all the bureaucrats, beggars and bankers.
              Currently, corporate welfare costs 10 TIMES what the welfare for the lower loop. Presumably, the upper loop will scream the loudest for free money when all their jobs disappear.

              Here is an article about a couple of State Reps that are prepping.
              In Anticipation Of The Coming American Apocalypse, 2 Lawmakers Plan To Create ‘Christian Survivalist Centers’ In Rural Areas – The American Dream
              Not one mention of farming.... tractors... diesel fuel.

              Comment


              • Sliding into hell with the corporatocracy... debt-free China

                The corporatocracy gained control through regulatory capture. We put our money in the bank and the bankers used our money to buy all the politicians within reach. A corporation is a mindless pile of money trying to grow larger. When the consumer got poorer and poorer, populism started to raise it's ugly head. The mealy-mouth politicians assured us that we had a democracy and that, populism was dangerous. The corporatocracy was losing ground and had to gain more control. They were somewhat restricted on how much money they could openly pass to a politician.

                Voilà, the corporation was made a person. That person could could send all the bribes that it could afford. All that free-money to the politicians ensured that they would approve anything that the corporatocracy wanted. All those pork-barrel contracts ensured that the corporatocracy could afford to buy any politician. The money moved in a circular flow from politicians to corporations.
                The money actually originated from the producing taxpayer.
                The corporation dutifully promised to create lots of jobs.
                General Electric CEO Jeffrey Immelt was designated the jobs czar by obummer. He promptly off-shored jobs at GE.

                The corporatocracy was / is loathe to pay any funds to support social benefits. They sucked up the social-security funds to pay for LOTS of contracts for LOTS of wars. Jack Ma of Alibaba tells it like it is.
                Alibaba'a Jack Ma Drops a Redpill in Davos: The U.S. Wasted $14 Trillion on Wars Over the Past 30 Years | Zero Hedge
                We are locked in to spending about a $trillion a year for war contracts.

                The cost of social support / programs for the lower loop is roughly $ 1.5 trillion a year.
                The cost of support to the corporatocracy is roughly $15 trillion a year. The corporatocracy has robbed the people,,, because it can. It has no heart, soul or brain. It can't envision a total collapse because commerce has come to a standstill. It will ride this horse right off the cliff thinking that it can make money after the impact. It will fight tooth & nail to hold on to it's advantage. It will attach itself to the money spigot to survive.

                The slow unravelling, https://www.rt.com/business/394557-g...ebt-surge-gdp/
                Draghi said that he would do whatever it takes to save the Euro. He printed up mega-tons of debt money.
                China said that they will do whatever it takes to save the Chinese economy.
                "There are indeed some risks in the financial sector, but we are able to uphold the bottom line of no systemic risks," he said. "We are fully capable of preventing various risks and making sure economic operations will be within a reasonable range."
                Does that mean debt-free money?
                "It might not blow up; China might be able to prevent that kind of event, and it is less likely that China will melt down financially despite its terrific credit expansion, and there are no signs of an immediate crisis. But China, like Japan in the 1980s, is suffering from a "delusion" about how to fix its economic problems."
                https://seekingalpha.com/article/408...ong-stagnation
                "Japan has found a way to write off nearly half its national debt without creating inflation. We could do that too."
                "Japan seems to have found one. While the US government is busy driving up its "sovereign" debt and the interest owed on it, Japan has been canceling its debt at the rate of $720 billion (¥80 trillion) per year. How? By selling the debt to its own central bank, which returns the interest to the government."
                https://seekingalpha.com/article/408...japanese-style
                if China follows the lead of Japan, it's lights-out for Western debt.

                "Federal Reserve has announced that it will soon begin withdrawing liquidity from the system. "
                "Over the past 12 months, the Liquidity Composite has risen by 3.1%. Stock prices have inflated by nearly 15% over that time. Since July of last year, liquidity has grown by just 2.4%. Stock prices have risen 14.1% over the same period."
                "The Fed took its foot off the accelerator at the end of 2014. Soon it will begin to actually siphon gas from the tank."
                "Fed begins the process of withdrawing cash from the system within the next few months. "
                "With the debt ceiling yet to be raised, the Treasury is likely to be forced to stop issuing new debt by September, if not before. That borrowing pause will continue until a deal is done to raise the debt ceiling. With all new Treasury supply held off the market, this will create a temporary shortage of Treasury debt in the market. "
                "Under QT, the Fed will stop rolling over its Treasury holdings. That means that it will call in the money which it had lent the Treasury when it originally bought these bills, notes, and bonds. The Treasury will need to sell new debt to raise the cash it will need to pay off the Fed. "
                "History teaches us that these declines usually become self reinforcing, and they usually devolve into forced selling. That often turns into a crash. "
                https://dailyreckoning.com/liquidity...mb-ticks-zero/
                Armstrong did mention a crash of Treasury debt.

                We got mammoth inflation in the upper loop from FED printing. It stands to reason that we will see mammoth deflation in the upper loop when the FED cuts back.
                http://www.zerohedge.com/news/2017-0...hat-fed-giveth
                We have had 8 years of a huge bull market for stocks but bonds are dead. The pension funds invested in GOV bonds on and on. They missed out on the huge rise of stocks. Even after a few years of a rising market, they STILL didn't get onboard.
                https://dailyreckoning.com/americas-silent-crisis/
                So, who's idea was it for them to buy Treasury debt when stocks were doing so well?

                We still have the biggest parasite of all locked in to the financial jugular vein of America.
                http://www.rense.com/general96/americasdescent.html

                Comment


                • Broke states....too many banks..

                  Sometimes, all you need from an article is the headline.
                  Illinois State Workers, Highest Paid in Nation, Demand 11.5 to 29% Hikes
                  Illinois pays its state workers more than $59,000 a year
                  April 13, 2011: 35% of Illinois State Employees are on Workers’ Comp

                  Illinois has been unable to pass a budget for 2 years. Illinois DID vote unanimously "My sources tell me that by an 84-0 vote, part of I-55 will be renamed the Obama Expressway."
                  Illinois gets all the publicity but, Connecticut has an equal problem.
                  It's Not Just Illinois: Connecticut Faces Friday Day Of Reckoning | Zero Hedge

                  Armstrong is a "money" guy so, he thinks that the "bail-ins" were a necessity.
                  https://www.armstrongeconomics.com/w...et-philosophy/
                  The problem is; the financial sector is way too crowded.

                  "(2) On top of the 25 000 full banking licenses there are an other cca 60 000 (!) quasi-banks globally. Credit Unions, Savings Cooperatives, Savings Associations, Building Societies and other forms that are almost as rigorously regulated as banks.
                  (3) On top of the cca 25 000 full license banks and the cca 60 000 quasi-banks, there are shadow-banks and shadow banking activities. This is a very hard area to calculate estimates on, but the number of unregulated "banks" and "quasi-banks" is somewhere between 20 000 and 30 000 worldwide "
                  "(4) Total assets of the 25 000 full license banks constitute to cca USD 150 trillion. report that shadow banking assets amount to USD 75 trillion globally."
                  https://www.linkedin.com/pulse/how-m...ly-david-gyori

                  Draghi has flapped his jaws about higher interest rates, "This has all sent the dollar down as the fools rush in where no wise-man would dare go."
                  "Now higher interest rates have miraculously flipped into bullish news. The problem is, the economy has not changed. Higher rates will not reverse the deflation in Europe. The idea is that higher rates will bring capital back to Europe. Nobody is addressing what comes next."
                  https://www.armstrongeconomics.com/m...t-gold-dollar/
                  So, Armstrong said to get out of ALL bank shares. No sane person would buy Euro debt either.

                  South Australia has the highest unemployment rate in the country so, they levied a "surprise tax" on the big banks. https://www.armstrongeconomics.com/w...ncial-trouble/
                  Unemployment is just a way of life for our future. http://www.zerohedge.com/news/2017-0...ar-opens-vegas

                  6/30 Global debt hits a new record high of $217 trillion; 327% of GDP – Zero Hedge
                  6/29 Venezuela may be sliding into a civil war – WaPo
                  Just imagine that you lost your job. So, you go home and beat up the wife. That won't fix anything.

                  Comment


                  • French debt,, stampede of the algos...margin calls

                    The French GOV spends about 57% of the GDP.
                    "he Maastricht debt criterion governing a country’s eligibility for joining the single currency was that the gross debt to GDP ratio was to be no higher than 60pc"
                    "This year it looks as though, in gross terms, the French debt to GDP ratio will be just above 98pc. "
                    France?s staggering debt levels are far more worrying than ours - Telegraph
                    Sub-prime auto loans are crashing badly. Your car is underwater when you drive it away from the dealer. Even if you give it back to him, the loan never goes away.
                    Good Luck Getting Out Of That Subprime Auto Loan When Used Car Prices Crash | Zero Hedge

                    "Computer programs designed by quants are telling quants to be fully invested"

                    "The key technical requirement is to have the “Hindenburg” signal of June 6th confirmed by another such signal within 36 days. This registered yesterday.
                    The rule on this one, is that each such signal is not necessarily followed by a collapse of speculation, but there has been no such collapse without a confirmed Hindenburg"
                    http://www.321gold.com/editorials/hoye/hoye063017.pdf

                    ” but rather the systemic shock caused by a “freeze” in the credit markets when Lehman Brothers filed for bankruptcy. Counterparties evaporated, banks froze lending and the credit market ceased to function.
                    Credit, not the stock market, is the “lifeblood” of the economy."
                    Defaults are rising as fast as they did on the runup to the 2007 crash.
                    http://realinvestmentadvice.com/wp-c...ers-062517.png
                    ” but rather the systemic shock caused by a “freeze” in the credit markets when Lehman Brothers filed for bankruptcy. Counterparties evaporated, banks froze lending and the credit market ceased to function.

                    Bank credit is crashing, http://realinvestmentadvice.com/wp-c...GDP-062717.png
                    Total system leverage is screaming up, http://realinvestmentadvice.com/wp-c...0-041117-2.png
                    "When the “robot trading algorithms” begin to reverse, it will NOT BE a slow and methodical process but rather a stampede with little regard to price, valuation or fundamental measures as the exit will become very narrow.

                    Importantly, as prices decline it will trigger margin calls which will induce more indiscriminate selling. The forced redemption cycle will cause catastrophic spreads between the current bid and ask pricing for ETF’s. As investors are forced to dump positions to meet margin calls, the lack of buyers will form a vacuum causing rapid price declines "
                    https://realinvestmentadvice.com/yes...ancial-crisis/

                    All the world's currencies exist in their own little bubble, http://brucewilds.blogspot.com/2017/...-paradigm.html

                    Comment


                    • Interest load and tax load crushing everybody

                      I doubt that most people on this forum are invested in stocks. At the same time, any crash of the market will affect everybody.
                      Robert L. Rodriguez was an investment manager for 33 years and won a bunch of awards. He recently retired and had this to say;
                      "The closest policy period to what we have now would have been between 1942 and 1951, when the Fed and Treasury had an accord to keep interest rates low. Interest rates were artificially held lower to help finance the World War II effort. "
                      The Central banks were created specifically to finance Government wars.
                      "We witnessed this in the last cycle. There was an article in the WSJ quoting a quant manager who said on a Wednesday, we had experienced a 1-in-10,000 year event. On Thursday, we had a 1-in-10,000 year event. On Friday we had a 1-in-10,000 year event. A former colleague wrote an email that weekend that said, “I have a quick question to ask. On Monday, are we safe for the next 30,000 years?”
                      "After 45 years of watching the Fed, the only Fed chairman that was worth spit was Paul Volcker. The last great central banker that we had in the last 110 years other than Volcker was J.P. Morgan. The difference is, when Morgan tried to contain the 1907 crisis, he wasn’t using zeros and ones of imaginary computer money; he was using his own capital. As long as you have anointed centralized bureaucratic decision makers like the Federal Reserve, that in many ways is similar to the concentrated decision making structure of the former Soviet Union, decisions will be late and generally wrong."

                      "We had the greatest, the highest level of computerization in the history of man, the most timely acquisition to information, the highest percentage of advanced degreed professionals and college graduates in the field, and we got an outcome no different than 1974, 1929, 1907. There is something more here going on.”
                      "Why on Earth should I allocate capital into a system where the scales are completely manipulated, price discovery is distorted, and the Fed doesn’t have a clue what’s going on? They’ve missed every economic forecast for the last nine years straight. Why would anybody pay any attention to what those people are doing?

                      I have confidence in one thing. The Fed will blow it."
                      "I am managing my estate in a hedged fashion because what we are going through is without any precedent in human history. How can anybody have confidence that their particular view is the right view?"
                      Bob Rodriguez: "We Are Witnessing The Development Of A Perfect Storm" | Zero Hedge

                      "They" can't find anybody responsible to borrow money so, They are looking for irresponsible people.
                      Signs Of An Auto Bubble: Dealer Literally Offers "Low Credit Score Discount" | Zero Hedge

                      On average, every additional dollar of additional taxes reduces the economy by $3. Since the public pension funds are crashing badly, it is expected for GOV to raise the snot out of taxes. We'll see how that works out.
                      The bankers want everybody loaded down with debt. When the debt blows, the bankers will just get bailed out by the taxpayer. BUT, 48% of Americans pay no federal income tax. As we see in Illinois, the people with money just leave. The tax base shrinks and the State finances just slide down into a hole.
                      The poor debtor just gets poorer and poorer.

                      "The survey found that nearly half of Americans are carrying at least $25,000 in debt, with an average debt of $37,000, excluding mortgage payments"
                      "But many consumers in the survey also said they’re spending up to 40% of their income on discretionary purchases such as entertainment, leisure, hobbies and travel. "
                      "since its 2008 peak, but auto loan balances are $367 billion higher since then and student loans are $671 billion higher,"
                      LET THE GOOD TIMES ROLL !
                      40% of Americans spend up to half of their income servicing debt - MarketWatch

                      "Even the lowest income families (the bottom fifth of earners) spend 40% on luxuries and 60% on necessities, according to the study’s author, Torsten Slok, chief international economist for Deutsche Bank Securities."
                      "Nearly half of Americans (49%) say their emotions have caused them to spend more than they can afford, it concluded."
                      Did they break that down by gender?
                      "Women are more likely than men to overspend because of stress (35% vs. 24%)"
                      Low-income families spend 40% of their money on luxuries - MarketWatch

                      You would think that all those stressed-out women would keep the stores busy.
                      "we are on pace to break the all-time record for most store closings in a single year in the United States by more than 20 percent. "

                      "#4 Financial stocks have lost all of their gains for the year, and some analysts are saying that this is “a terrible sign”.
                      Maybe, investors should just get OUT of financial stocks.
                      " which 20% of US corporations were at risk of default should rates rise. "
                      Note to Yellen
                      "Lapthorne calculates that S&P1500 ex financial net debt has risen by almost $2 trillion in five years, a 150% increase, but this mild in comparison to the tripling of the debt pile in the Russell 2000 in six years. He also notes, as shown he previously, that as a result of this debt surge, interest payments cost the smallest 50% of stocks in the US fully 30% of their EBIT " Earnings Before Interest and Taxes.
                      40% of Americans spend 1/2 their income on servicing debt..
                      50% of companies pay 30% of their pre-tax earnings on debt service.
                      12 Signs The Economic Slowdown The Experts Have Been Warning About Is Now Here

                      Comment


                      • Bankrypt oil.. bankrupt Illinois... bankrupt ECB

                        Oil is actually quite cheap. BUT, the currency wars have diminished our purchasing power. We've had roughly 10% price inflation,,, depends on the sector. We can't afford carbon energy and the oil majors are going broke. They aren't searching for new oil and this will hit us in a couple of years.
                        https://www.peakprosperity.com/blog/...g-energy-shock
                        Illinois has tanked and the comptroller says that they need a budget immediately. There is a BIG difference between having a budget and having money. Illinois is paying $800 million in interest penalties for the $15 billion that they owe to vendors. The courts have ordered them to make payments to a few entities.
                        Somebody is going to get the gold mine and,,, somebody is going to get the shaft.
                        Embedded video, https://www.armstrongeconomics.com/w...nk-of-default/
                        7/02 Court ruling sends Illinois into financial abyss – Zero Hedge

                        Gov. Christie has ordered New Jersey shut down, https://www.usatoday.com/story/news/...pen/446677001/
                        Kunstler, "The preview of coming attractions is currently playing out in Illinois — soon to be joined by Connecticut, California, Kentucky, and many other bankrupt states. Illinois is dead broke. It can’t pay the contractors who fix things like roads and storm drains, and supply food to its prisons. It’s over $200-billion deep in pension obligations that will never be honored. "
                        "the financial system unravels later this year, because this time, unlike 2008-9, central bank interventions will not avail to rescue the faltering money system from nine years of previous central bank interventions. "
                        When the Deal Goes Down - Kunstler

                        Apparently, the European Central bank is going to crash next year, ARMSTRONG: Major Central Bank May Fail Next Year | FS Staff | FINANCIAL SENSE
                        7/02 Merkel concerned G-20 Summit could end in fiasco – Spiegel
                        Various States are in open revolt at her immigration policies. The ECB is close to insolvent. Fiasco is a pretty good description.

                        Comment


                        • Job loss, socialism, UBI, social credit, national dividend

                          Merkel needs to keep the charade of solvency alive until she is re-elected. She may be able to whip many European politicians into line BUT, she has visions of whipping Trump into line. In a few days, she is going to lay down the law to him.
                          "Merkel said that the gathering of world leaders in Hamburg would be difficult given Trump’s climate skepticism and “America First” position. She said that she was determined to seek a clear commitment for the Paris accord against global warming and a pledge against protectionism from Trump. Talk about a brain-dead confrontation. Protectionism is one thing, but climate is more likely to block any other possible cooperation."
                          https://www.armstrongeconomics.com/w...20-on-climate/
                          The dirty little communist requires the carbon taxes to further her twisted dreams of socialist utopia. Trump will tell her to SHOVE IT. Maybe, he will mention that the German pension system is insolvent and, carbon taxes will not save it in the end.

                          You Aussies have been having a GREAT time down under. Australia is at the top of the world distribution of household credit to GDP - ABC News (Australian Broadcasting Corporation)

                          "The debt problems from a decade ago haven't been solved. They've grown worse, to the point where they can no longer be unwound, at least not by conventional means." So, we'll try non-conventional.

                          Previously, OZ had a law against exporting raw iron ore. ONE guy worked for 10 years to get this law changed. He pestered the legislature for 10 years and finally convinced them that it would benefit OZ.
                          "Then there's China. Our trade is dominated by it. In fact, more than 35 per cent of our trade, most of it in the form of raw iron ore, is with the world's second biggest economy."
                          Blowing bubbles: The new world economic order - Business - ABC News (Australian Broadcasting Corporation)

                          It is absolutely amazing how much obvious BS you find on the net written by people who should know better. Regarding artificial intelligence.
                          "We are thus facing two developments that do not sit easily together: enormous wealth concentrated in relatively few hands and enormous numbers of people out of work. What is to be done?"
                          "The solution to the problem of mass unemployment, I suspect, will involve “service jobs of love.” These are jobs that A.I. cannot do"

                          "Who will pay for these jobs? Here is where the enormous wealth concentrated in relatively few hands comes in. It strikes me as unavoidable that large chunks of the money created by A.I. will have to be transferred to those whose jobs have been displaced. This seems feasible only through Keynesian policies of increased government spending, presumably raised through taxation on wealthy companies."
                          THERE IS NO WEALTH CONCENTRATION. Unemployed people can't buy stuff. Taxing wealthy companies won't remedy anything either.
                          "As for what form that social welfare would take, I would argue for a conditional universal basic income: "
                          "To fund this, tax rates will have to be high. The government will not only have to subsidize most people’s lives and work; it will also have to compensate for the loss of individual tax revenue previously collected from employed individuals."
                          The equation just does NOT work,,, with debt-money.

                          "One way or another, we are going to have to start thinking about how to minimize the looming A.I.-fueled gap between the haves and the have-nots, both within and between nations. Or to put the matter more optimistically: A.I. is presenting us with an opportunity to rethink economic inequality on a global scale. These challenges are too far-ranging in their effects for any nation to isolate itself from the rest of the world."
                          https://www.nytimes.com/2017/06/24/o...nequality.html
                          There are two choices; debt-free money or general depopulation.

                          "The chart below shows de-trended real unit labor costs versus the level of economy-wide profit margins"
                          https://www.hussmanfunds.com/wmc/wmc170703h.png
                          https://www.hussmanfunds.com/wmc/wmc170703.htm
                          How hard is it to understand? If people don't have money, profits go down.
                          The feces-for-brains Central bankers pump money into the upper loop to get the masses to spend more. The transmission mechanism is WAGES. With 102 million working-age Americans out of work, the transmission is broken.

                          More reading on universal basic income vs Social credit.
                          http://www.socred.org/index.php/blog...ional-dividend
                          https://www.reddit.com/r/BasicIncome...social_credit/

                          Comment


                          • Retail gliding...Rate hikes didn't "hike"... GB trapped , like everyone else

                            Retail is on a glide-path. "Twenty-two retailers in Moody’s portfolio are in serious financial trouble that could lead to bankruptcy, according to a Moody’s note published on Wednesday. That’s 16% of the 148 companies in the financial firm’s retail group — eclipsing the level of seriously distressed retail companies that Moody’s reported during the Great Recession."
                            "The retail sales associate is one of the most popular jobs in the country, with roughly 4.5 million Americans filling the occupation. In May, the US Bureau of Labor Statistics released data that found that 7.5 million retail jobs might be replaced by technology. The World Economic Forum predicts 30 to 50 percent of retail jobs will be gone once struggling companies like Gymboree fully hop on the digital train. MarketWatch found that over the last year, the department store space bled 29,900 jobs, while general merchandising stores cut 15,700 positions. "
                            2017 Is Going To Be The Worst Retail Apocalypse In U.S. History ? More Than 300 Retailers Have Already Filed For Bankruptcy
                            That "fully hop on the digital train" is going to be chugging through a wasteland where nobody has a job or money.

                            The FED has done 3 rate hikes. This should have put the brakes on some sectors of the economy. It did just the opposite.
                            http://www.zerohedge.com/sites/defau...rror%201_0.jpg
                            Tyler Durden Blog | "The Paint May Be Drying, But The Wall Is About To Crumble": BofA Explains What The Market Is Missing | Talkmarkets
                            7/03 Dow hits all-time high, jumps 187 points, as bank stocks climb higher – CNBC Marvellous ! Bank stocks haven't had any returns. "Financial stocks have lost all of their gains for the year,"

                            7/03 Can the Bank get Britain to kick its cheap credit habit? – Guardian
                            7/03 Economic slowdown could force Bank of England to cut interest rates – Telegraph
                            7/03 Britain ‘on brink of worst house price collapse since 1990s’ – Daily Mail


                            What about electricity?
                            Puerto Rican power utility files for bankruptcy
                            7/03 BHP chairman says $20 billion shale investment “mistake” – SRSrocco Report

                            Comment


                            • The blockchain is squeezing out corruption

                              A couple articles on the blockchain.
                              The blockchain can bypass corruption entirely; Solving The Liquidity Problem (Not What You Think!) | Zero Hedge
                              China wants a national digital currency, PBOC Hires Blockchain Engineers Who Will Oversee Creation Of The "Digital RMB" | Zero Hedge
                              "The R3 Consortium of most major banks in the world (which raised $107 million in funding in May) has developed a private blockchain system called Corda that just entered beta phase — so has the Linux Foundation (with major support from IBM) with the Hyperledger Fabric.

                              Another exciting innovation is Zcash, which allows you to hide details of transactions such as the sender, receiver, and amounts (using zk-SNARKs) while operating on a public blockchain."
                              https://medium.com/blockchain-at-ber...n-edcb4824b174

                              The blockchain technology looks like it will eliminate a lot of corruption and GOV oversight. Combined with AI, it might just get rid of bureaucrats.
                              https://www.nytimes.com/2017/06/24/o...nequality.html

                              Illinois has 7 main problems, 7 Fast Facts About the Economic Collapse of Illinois | The Daily Sheeple
                              LBJ started the "Great Society. You can see the spending climbing from that moment.
                              https://squawker.org/wp-content/uplo...11-01-59-1.png
                              http://stockboardasset.com/insights-...ty-looks-like/

                              US GOV spends 24% of the GDP. Trump is talking about cutting that back. Public spending is the only thing keeping the economy going.
                              https://mishtalk.com/2017/07/03/cons...ight-disaster/
                              "When we entered the new millennium, the world's biggest central banks held debt worth under 2 per cent of global GDP. Now, it's grown to just shy of 40 per cent.

                              The problem is, most of that created cash has been used — not for productive purposes, but for speculation."
                              http://www.abc.net.au/news/2017-07-0...ction=business

                              Comment


                              • millennials take the poisoned bait.

                                The blockchain is fascinating for it's possibilities. Just how much "money" and commerce can it remove from State control?
                                It is projected that 10% of GDP will be stored in the blockchain. I can't really see the bankers allowing that.
                                South Korean bitcoin exchange Bithumb hacked, money stolen - Business Insider
                                B of A warns that the best indicator that stocks have topped out is; The millennials are starting to pile in.
                                U.S. Stocks Plunged 57% the Last Time We Saw This | Casey Research

                                Zero Hedge, "CDO" - the product that will accelerate the next crash when the BTFD mentality that has defined the market for the past 8 years, finally ends as central bankers pull the rug from under an entire generation of traders. "
                                The millennials are piling into DERIVATIVES.
                                "Our analysis shows that fundamental signals have significantly improved in efficacy over longer time horizons, whereas algorithm-driven signals perform well in the short term, but the decay rate is extreme "
                                Everybody piles in to a passive ETF and ignores fundamentals.
                                As The S&P 500 Becomes One Giant ETF, BofA Has Four Major Warnings | Zero Hedge

                                https://dailyreckoning.com/jim-ricka...r-north-korea/
                                " The Fed has raised rates in December, March and again in June. [Now] we’re seeing disinflation, a slowing economy, a declining labor force. "
                                Yep, sooner or later, the CBs will discover that consumption and commerce are directly related to the number of consumers a State has.
                                Economica has proved this over and over.
                                https://econimica.blogspot.com/

                                7/06 Don’t count on pension plans for your retirement – NewsMax
                                7/05 BoE’s Carney: We have fixed issues that caused financial crisis – Guardian

                                7/06 Keep eye on sovereign debt for next Minsky moment – Bloomberg Well, that is what Armstrong warned about.
                                The socialists can NEVER deal with reality because it would cut back on their spending.
                                https://www.armstrongeconomics.com/w...n-debt-crisis/
                                Governor Moonbeam fits the pattern, https://www.armstrongeconomics.com/i...-constitution/
                                Government everywhere is dreaming up new fees and new fines to squeeze out every last penny.
                                https://www.armstrongeconomics.com/w...money-shut-up/

                                "Governments are broke and are taking drastic measures to stay in business"
                                "We reached the peak in government 2015.75. Ever since that fateful turning point, the press has become so corrupt, the politics has collapsed, traditional parties are declining and the rise in discontent is global. Between here and 2032.95, the world around us is changing. It will be out with the old, and in with the new."
                                https://www.armstrongeconomics.com/i...t-4th-of-july/

                                51% of Americans receive a check from GOV. This includes a LOT of government agents who go around snooping into everything that you do. They are all to quick to pull a gun on you. The EPA claims that it "owns" all water. Montana is now requiring you to list your water source. All the better to cut you off. So, when the sovereign debt market collapses, how are all these armed State busybodies going to react?

                                Comment

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