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Stockman & numbers,,Kunstler
Stockman is a former U.S. budget director. He REALLY knows his numbers. You should read the whole article. It will give you motivation to plant a garden.
"That's because during the mere 8 weeks since the public debt ceiling was suspended by the Donald's end-run with Nancy and Chuckles in September, the national debt has spiked by $640 billion.
That's about $16 billion per Federal business day, and they are not done yet." "As Wolf pointed out, this pattern played out during the debt showdowns of 2013 and 2015, as well, when the resulting "temporary" suspension resulted in borrowing spikes of $464 billion and $650 billion, respectively."
https://wolfstreet.com/wp-content/up...2017-11-02.png
"That's because the bill cuts Federal income taxes for the very wealthy by $2.2 trillion over the next decade owing to repeal of the minimum tax, phase-out of the estate tax and the sharp reduction in tax rates on business profits to 20% and 25% for corporate and pass-thru entities, respectively.
Yet the net tax cut for the entire Brady bill over ten years---according to the Joint Committee on Taxation---is just $1.49 trillion. That means, obviously, everyone else is getting a $700 billion increase."
"That's why IBM raised its job count in India from zero in 1993 to 130,000 at present, while cutting its domestic employment count from 150,000 to less than 90,000."
"Indeed, we estimate that in the next four years, the US alone will add $5 trillion to the Treasury float---even as the Fed disgorges upwards of $2 trillion of existing debt securities."
"the 20-year surge in debt obligations prior to the 2008 crisis caused total liabilities outstanding to soar by 5.2X, and to rise from 57% of GDP when Greenspan launched the era of bubble finance in Q3 1987 to nearly 100% of GDP on the eve of the crisis.
Nevertheless, after a small net reduction in debt immediately after the crisis, total household liabilities have continued to rise, and now exceed $15.1 trillion. Accordingly, just 250 (1/4 of a percent) basis points of interest normalization will cause the carry cost of household debt to rise by upwards of $400 billion per year or nearly triple the amounts of the ballyhooed tax cut."
"At present, the Red Ponzi (China) is staggering under $40 trillion of state and private debt or more than 3.5X its nominal GDP-"
"We can't even imagine the carnage that will occur among China's vastly inflated financial and real estate assets when global yields commence their inexorable rise. "
"Since 2014, the economy has only grown by a little less than 9%, top-line revenues by just 3% along with corporate profits after tax, and reported earnings by just 2%. All of that while asset prices have grown by 29% through Q2.”
Contra Corner » The Black Swan In Plain Sight—Debt Out The Wazoo
Good point from Armstrong, "They use the police to raise money. For example, an unmowed lawn in Ferguson will be fined between $77 and $102, " "This is the entire problem. No government should be allowed to fine people PERIOD! You should be ordered to pay to a charity of your choice – but not to the government. Remove the “money” from their incentive and we will return the rule of law to what it should be – justice."
https://www.armstrongeconomics.com/i...enue-in-fines/
"What history has shown about CEOs is that they tend to buy shares back at precisely the wrong times, as you can see in 2007, when a third of the cash went to this category right before the crash.
We're fast approaching 34% again today,"
"Though U.S. corporations are 250% richer than 17 years ago in terms of bank accounts, U.S. workers can't say the same for themselves.
78% of them are living paycheck to paycheck. Globalization has buried the middle class in a coffin."
"The U.S. Congress is looking to pass a bill in the coming weeks that will make Bitcoin tax-exempt for transactions of under $600 – this will essentially classify it as a currency, rather than property."
No Early Warning: ‘87-Style Crash Approaching!
Kunstler is more "poetic" than ever.
"Federal Reserve chair, Jerome “Jay” Powell, “a low interest-rate kind of guy,” was obviously picked because he is Janet Yellen minus testicles, the grayest of gray go-along Fed go-fers, going about his life-long errand-boy duties in the thickets of financial lawyerdom like a bustling little rodent girdling the trunks of every living shrub on behalf of the asset-stripping business that is private equity (eight years with the Deep State-ish Carlyle Group) while subsisting on the rich insect life in the leaf litter below his busy little paws."
"Powell’s contribution to the discourse of finance was his famous utterance that the lack of inflation is “kind of a mystery.” Oh, yes, indeed, a riddle wrapped in an enigma inside a mystery dropped in a doggie bag with half a pastrami sandwich."
"The economy isn’t growing and can’t grow. The economy is a revenant of something that used to exist, an industrial economy that has rolled over and died and come back as a moldy ghoul feeding on the ghostly memories of itself."
"And an epic wickedness combined with cowardice drives the old legacy news business to look the other way and concoct its good times “narrative.”
What Could Go Wrong? - Kunstler
11/07 Global stock meltup sends Nikkei to 25 year high – Zero Hedge
Stockman is a former U.S. budget director. He REALLY knows his numbers. You should read the whole article. It will give you motivation to plant a garden.
"That's because during the mere 8 weeks since the public debt ceiling was suspended by the Donald's end-run with Nancy and Chuckles in September, the national debt has spiked by $640 billion.
That's about $16 billion per Federal business day, and they are not done yet." "As Wolf pointed out, this pattern played out during the debt showdowns of 2013 and 2015, as well, when the resulting "temporary" suspension resulted in borrowing spikes of $464 billion and $650 billion, respectively."
https://wolfstreet.com/wp-content/up...2017-11-02.png
"That's because the bill cuts Federal income taxes for the very wealthy by $2.2 trillion over the next decade owing to repeal of the minimum tax, phase-out of the estate tax and the sharp reduction in tax rates on business profits to 20% and 25% for corporate and pass-thru entities, respectively.
Yet the net tax cut for the entire Brady bill over ten years---according to the Joint Committee on Taxation---is just $1.49 trillion. That means, obviously, everyone else is getting a $700 billion increase."
"That's why IBM raised its job count in India from zero in 1993 to 130,000 at present, while cutting its domestic employment count from 150,000 to less than 90,000."
"Indeed, we estimate that in the next four years, the US alone will add $5 trillion to the Treasury float---even as the Fed disgorges upwards of $2 trillion of existing debt securities."
"the 20-year surge in debt obligations prior to the 2008 crisis caused total liabilities outstanding to soar by 5.2X, and to rise from 57% of GDP when Greenspan launched the era of bubble finance in Q3 1987 to nearly 100% of GDP on the eve of the crisis.
Nevertheless, after a small net reduction in debt immediately after the crisis, total household liabilities have continued to rise, and now exceed $15.1 trillion. Accordingly, just 250 (1/4 of a percent) basis points of interest normalization will cause the carry cost of household debt to rise by upwards of $400 billion per year or nearly triple the amounts of the ballyhooed tax cut."
"At present, the Red Ponzi (China) is staggering under $40 trillion of state and private debt or more than 3.5X its nominal GDP-"
"We can't even imagine the carnage that will occur among China's vastly inflated financial and real estate assets when global yields commence their inexorable rise. "
"Since 2014, the economy has only grown by a little less than 9%, top-line revenues by just 3% along with corporate profits after tax, and reported earnings by just 2%. All of that while asset prices have grown by 29% through Q2.”
Contra Corner » The Black Swan In Plain Sight—Debt Out The Wazoo
Good point from Armstrong, "They use the police to raise money. For example, an unmowed lawn in Ferguson will be fined between $77 and $102, " "This is the entire problem. No government should be allowed to fine people PERIOD! You should be ordered to pay to a charity of your choice – but not to the government. Remove the “money” from their incentive and we will return the rule of law to what it should be – justice."
https://www.armstrongeconomics.com/i...enue-in-fines/
"What history has shown about CEOs is that they tend to buy shares back at precisely the wrong times, as you can see in 2007, when a third of the cash went to this category right before the crash.
We're fast approaching 34% again today,"
"Though U.S. corporations are 250% richer than 17 years ago in terms of bank accounts, U.S. workers can't say the same for themselves.
78% of them are living paycheck to paycheck. Globalization has buried the middle class in a coffin."
"The U.S. Congress is looking to pass a bill in the coming weeks that will make Bitcoin tax-exempt for transactions of under $600 – this will essentially classify it as a currency, rather than property."
No Early Warning: ‘87-Style Crash Approaching!
Kunstler is more "poetic" than ever.
"Federal Reserve chair, Jerome “Jay” Powell, “a low interest-rate kind of guy,” was obviously picked because he is Janet Yellen minus testicles, the grayest of gray go-along Fed go-fers, going about his life-long errand-boy duties in the thickets of financial lawyerdom like a bustling little rodent girdling the trunks of every living shrub on behalf of the asset-stripping business that is private equity (eight years with the Deep State-ish Carlyle Group) while subsisting on the rich insect life in the leaf litter below his busy little paws."
"Powell’s contribution to the discourse of finance was his famous utterance that the lack of inflation is “kind of a mystery.” Oh, yes, indeed, a riddle wrapped in an enigma inside a mystery dropped in a doggie bag with half a pastrami sandwich."
"The economy isn’t growing and can’t grow. The economy is a revenant of something that used to exist, an industrial economy that has rolled over and died and come back as a moldy ghoul feeding on the ghostly memories of itself."
"And an epic wickedness combined with cowardice drives the old legacy news business to look the other way and concoct its good times “narrative.”
What Could Go Wrong? - Kunstler
11/07 Global stock meltup sends Nikkei to 25 year high – Zero Hedge
There was also a report that Iceland and Ireland and Belgium were buying up the shunned treasury debt,,, even though they didn't even have any dollar reserves to buy Treasury paper. 
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