Economic pressures

[Danny B]

C.H. Smith writes about some of the important factors that we haven't been paying attention to. They don't look good.
https://www.zerohedge.com/markets/20...21-main-course
Stocks, so far this year.
https://www.zerohedge.com/markets/wo...-dot-com-crash

After careful consideration, however, the best article I have found to explain what happened last year was this, from Unherd Magazine: 2020: the year the elites failed upwards. A few choice highlights include:

Elite institutional authority is everywhere collapsing in a bonfire of self-immolation even as elite institutions become ever more powerful….The iron law of the American elite is that as long as everyone fails together, everyone fails upwards. Regime loyalty is the herd immunity of the ruling class, a protection against the consequences of their own failures. This is why the loss in authority that manifests in the “crisis of experts”, while real, doesn’t diminish their power. But it’s also why the regime has to become more ideological and nakedly coercive — for a kingdom of experts without reliable expertise falls back on propaganda and state power.

There are so many examples of this to draw from that one does not know where to begin. Yet how could we not look at markets too? How *they* continue to fail upwards!
https://www.zerohedge.com/markets/ra...exactly-to1937

[Danny B]

The corporations destroyed the linkage (wages) between themselves and the working class. This looked good on paper with them getting rich. Very little money filtered down to the working class. In turn, the working class ran out of money and, couldn't supply the necessary capital to keep earnings going in the stock market.
"The total market capitalization of the U.S. stock market is $36,258,650.9 million"
So, where does the capital come from to keep earnings alive for this $36 trillion market?
It comes from wet-ink "money" created by the State.
Yesterday, I posted an article from C.H. Smith. Today, I want to heavily quote from the comments. Several of them are brilliant.

What you've described in this article, is the life-cycle of stars and indeed, of everything in the material universe..

The only saving grace, is that some stars don't get to the stage whereby they implode once they run out of energy.. Some stars implode much earlier, while still possessing massive energy reserves and their implosion creates a new cycle of creation from the debris, for instance, Russia, China..

Those two were fortunate, probably something to do with their existential philosophies..

Implosions that are terminal, seem to occur mostly in western societies and the reason why is obvious..

For instance, Rome, Spain, Portugal, Greece, Britain etc. never recovered, their implosions were terminal, meaning they used up all their energies before implosion, unlike folks in the East who imploded while still energetic metaphysically and were reborn like phoenixes arising from the ashes of implosion..

Now Charles, as averred, energy necessary for rejuvenation, is not physical or material, it's metaphysical, meaning that if the metaphysical accounts of a nation or society goes negative or near depletion before implosion, that's it for the societies..

It doesn't mean they cease to exist per se, some do, but it means they can't recover lustre, or put simply, they can't recover their glories, and thus, become like dwarf stars, emitting no light, and possessing no vigor..

As above Charles, so too below..

What's compounding the western societies problems, is the virus of exceptionalism which makes recalibration impossible. For instance, while Rome, the empire still had a chance at recovery, folks back then, just like now, were imbibing delusions of Roman glory even while it was declining precipitously, with other societies rising in power..

The empire was stuck in a lethargic quicksand of inability to alter trajectory and again, the problem was exceptionalism..

Look at Iran, it has periodically imploded while still energetic and thus, managed to survive as a civilization for thousands of years, same with China, same with Russia, and same with Damascus, India, and the South East Asian nations..

And for the US, we expect same and why?

Because of E Pluribus Unum, which is the antidote to Western terminal implosion, and that, Charles, is why probation will be in effect only till the summer to avoid terminal implosion..

Put simply, someone has great interest in preventing a terminal implosion so then, there'll be an implosion before the zero barrier to inevitability is crossed, we already mentioned that earlier, that some generational cohorts will bear the cost of implosion so the healthy generational cohort can begin anew..

It's either that, or long stagnation to sequester the available metaphysical energy, in which case, there'll be unremitting lethargy for ALL the generational cohorts till rationality is obtained..

Concisely Charles, events actually occur in the metaphysical, the physical, is only effects, not causes and that, is what we've been trying energetically to make folks understand and that Charles, is why intellect can't devise solutions and why?

Because intellect is good only for understanding the material, it can't understand the metaphysical, where causes originate..

It's like trying to understand emotions by listening to heartbeats. Sure, you may understand that a heart beats faster when agitated, or slower when at rest, but it still won't tell you the cause of the beats cogently. You may deduce fear or excitement, but you still won't understand exactly how the fear or excitement causes the heart to beat faster..

You might erroneously attribute it to chemical reactions, or emotion perturbances but you still won't understand the cause of the "perturbances"..

To truly understand, you'd need something beyond intellect, empathy for example, and empathy Charles, is NOT a physical principle, it's a metaphysical one..

ANOTHER COMMENT:

Why did the roaring 20s lead to the Wall Street Crash and the Great Depression?

US policymakers were using neoclassical economics and didn’t have a clue what was really going on.
The economics of globalisation has always had an Achilles’ heel.

In the US; the 1920s roared with debt based consumption and speculation until it all tipped over into the debt deflation of the Great Depression. No one realised the problems that were building up in the economy as they used an economics that doesn’t look at debt, neoclassical economics.

Not considering private debt is the Achilles' heel of neoclassical economics.
As they headed towards the financial crisis, the economy boomed due to the money creation of bank loans.
https://www.bankofengland.co.uk/-/me...rn-economy.pdf

The financial crisis appeared to come out of a clear blue sky as they used an economics that doesn’t consider debt, neoclassical economics.

The Americans are gluttons for punishment, aren’t they?
They have done it again!
At 25.30 mins you can see the super imposed private debt-to-GDP ratios.
https://www.youtube.com/watch?v=vASt...toCR-R&index=6
No one realises the problems that are building up in the economy as they use an economics that doesn’t look at debt, neoclassical economics.

1929 – US

1991 – Japan

2008 – US, UK and Euro-zone

The PBoC saw the Chinese Minsky Moment coming and you can too by looking at the chart above.

The Chinese were lucky; it was very late in the day.



No one has got the faintest idea what they are doing with this dodgy economics.



How did Japan avoid a Great Depression?

They saved the banks
How did Japan kill growth and inflation for the next thirty years?

They left the debt in place and the repayments on that debt killed growth and inflation.
https://www.youtube.com/watch?v=8YTyJzmiHGk
It’s not as bad as Japan as we didn’t let asset prices crash in the West, but it is this problem has made our economies so sluggish since 2008.

Western governments are always fighting the drag anchor of all that private debt in the economy, which tends to kill growth and inflation.

Japan has been like this since 1991.



It gets worse ......

The Japanese are miles ahead in their understanding of events after the financial crisis.

They have had thirty years to work on it.



Japanification is a private debt problem.
Japan understood the problem and used fiscal policy.

The money supply ≈ public debt + private debt

They paid down private debt and used Government borrowing and spending to maintain the money supply as they deleveraged to avoid debt deflation.

The West didn’t know what was really going on and tried to use monetary policy to cure a private debt problem with more private debt.



What else does Japan know that we didn’t?

Austerity is the worst thing you can do in a balance sheet recession.

When the private sector are deleveraging, you need to increase public borrowing to maintain the money supply and avoid debt deflation (a shrinking money supply)

In the West, we didn’t try and get private debt down; we didn’t even know that was the problem.

We tried to cure a private debt problem with more private debt.



QE can’t get into the real economy due to a lack of borrowers.

The banks are ready to lend, but there are too few borrowers as they are struggling with the debt they have already taken on. They had saved the banks, but left the debt in place.

We did the same thing.

QE can’t get into the real economy, but it can get into financial markets.

The gap between economic fundamentals and the US stock market widened until it reached 1929 levels.



This is why the Japanese didn’t do much QE until Kuroda, as they knew it couldn’t get into the real economy when people were more concerned with paying off existing debt than taking on new debt.

Richard Koo has no idea what Kuroda is doing and has put this down to him having no central banking experience.
Personally I think Kuroda does know what he’s doing.

He knows QE can’t get into the real economy due to a lack of borrowers, but is using it to inflate asset prices as this is what QE does best.



The Western central banks have been using monetary policy to try and cure a private debt problem with more private debt.

They didn’t see the problems developing in private debt.

They didn’t know the problems were caused by private debt.

They tried to cure the problem with more private debt.

“We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein.

He’s right, but we tried to do just that.
Not considering private debt is the Achilles' heel of neoclassical economics.

Just like it was in the 1920s.

[Danny B]

Another comment;

Chinese policymakers aren’t using that dodgy, old, 1920’s neoclassical economics are they?

You can tell because they are making all the classic mistakes everyone makes with this dodgy economics.

The Chinese are then doing something we don’t see elsewhere.

They are learning from those mistakes.
Davos 2018 – The Chinese know financial crises come from the private debt-to-GDP ratio and inflated asset prices
https://www.youtube.com/watch?v=1WOs6S0VrlA
The black swan flies in under our policymakers’ radar.

They are looking at public debt and consumer price inflation, while the problems are developing in private debt and asset price inflation.

The PBoC knew how to spot a Minsky Moment coming, unlike the FED, BoE, ECB and BoJ.
A year later, and they had made further progress.

Davos 2019 – The Chinese know bank lending needs to be directed into areas that grow the economy and that their earlier stimulus went into the wrong places.
https://www.youtube.com/watch?v=MNBcIFu-_V0
They had pumped bank credit into areas that don’t grow GDP, and the private debt-to-GDP had risen to a level they were on the verge of a financial crisis.

Everyone does that with neoclassical economics, but they don’t usually see the financial crisis coming.
The Chinese wanted to increase internal consumption, but they were using neoclassical economics and let real estate rip.

The equation makes it so easy.

Disposable income = wages – (taxes + the cost of living)

The cost of living term goes up with increased housing costs

The disposable income term goes down.

They didn’t have the equation, they used neoclassical economics.

The Chinese had to learn the hard way and it took years, but they got there in the end.

The Chinese have now realised high housing costs eat into consumer spending and they wanted to increase internal consumption.

[Danny B]

"However, the dominant approach to economics—known as “Neoclassical Economics” —ignores them completely, on the a priori grounds that the aggregate level of private debt doesn't matter: "
The credit bubble MUST grow non-stop. As private debt rises, people become debt saturated and can't take on any new debt.
The corporations destroyed the linkage (wages) between themselves and the working class.
There are over 100 million NOT in the labor force.

Americans Have Cut Their Debt by 30% Since 2018
by Christy Bieber | Jan. 2, 2021
In 2018, the average debt balance among those who owed money was just over $38,000.
In 2020, the total average debt balance among those who owe fell to just $26,621
The private debt bubble is shrinking. The credit bubble must grow so, the State is pumping liquidity into the upper loop so that credit can grow somewhere, somehow. With derivatives failing, it takes a LOT of fresh liquidity.

In a democracy, the people count for something. They count not at all in a corporatocracy.
The corporate control of ALL news reinforces their position of control. Their stranglehold on advertising keeps them well funded.

"It wasn’t the year we did something substantial about Big Tech and the incredible influence and control it has established over our individual and collective lives.
"My friend, Senator Ted Cruz, said in an interview on Saturday while he was campaigning in the Senate races down in Georgia (races where Facebook recently disabled the Republican fundraising pages) that Google was “the most dangerous company on the face of the planet.”
Dr. Robert Epstein before a Senate Judiciary Subcommittee on the Constitution. Dr. Epstein suggested that Google’s manipulated search results shifted 2.6 million votes to Democrats in 2016, a phenomenon known as the “Search Engine Manipulation Effect.”

While many people still hold in doubt the true results of the 2020 Presidential Election, and regardless of the eventual outcome, the power of Big Tech is now consolidated and complete. 2020 was the year that Silicon Valley boldly and broadly made it clear they would not even attempt to hide their true intentions: to control America, both in terms of what issues need to be promoted or suppressed, and what discussion would be permissible regarding those issues.

if the FBI barged into our auditorium at that very moment and stopped our event, seized all of our phones, and deleted all of our content, we would ultimately find ourselves in front of a judge who would deem those actions by a government agency to be unconstitutional.

However, I would then point out, if Google, Facebook, and Twitter decided to censor and take down all our posted and shared content from that event, they would actually be acting within their First Amendment rights. Before a judge, they would win. They own the platforms. They get to set the rules of the game.
The world we are now living in is a world that is being defined by Big Tech giants. They are deciding what the issues are, what the policy solutions are, and what conversations can be had around both. Without the ability to freely exchange information and ideas, there can be no freedom.

Larry Ellison is going to make sure that the NWO runs smoothly
https://www.wakingtimes.com/big-tech...595bc-54347961

Armstrong; PRIVATE BLOG – BigTech & Why They Are Censoring the World
It makes perfect financial sense from the corporate P.O.V. Destroy every bit of competition from small vendors.

[Danny B]

Armstrong;
1. The Model still shows World War is coming 2025-2027 time period.
2. PRIVATE BLOG – The Reserve Status of the Dollar will End by 2028
Youtube, China Military Plans to Fight US with 1000 Nuclear Warheads:

Lt. Gen Tom McInerney - World War III has started Listen To This Interview - Important Information
BREAKING: Michael Flynn Addresses The Nation: 'Do NOT Give Up!' BIG CHANGES COMING!!
86,059 views
•Jan 13, 2021
So, the dollar will lose it's reserve status AFTER WW III

1/10 2020 was the joint hottest year on record – IFL Science
1/09 Coldest in recorded history in Spain, China, Canada – Dr. Sircus

---

[Danny B]

The nation and the economy were taken over by the non-producers. They looted the producers. Makes sense. No point in stealing from people who produce nothing.
Armstrong claims that a republic will always change into an oligarchy.

ol·i·gar·chy

/ˈäləˌɡärkē/
Learn to pronounce
noun
noun: oligarchy; plural noun: oligarchies

• a small group of people having control of a country, organization, or institution.
  • a country governed by an oligarchy.

1/14 “655 people have $4 trillion. 200 million can’t cover a $1000 expense.” – ECB
At the same time, A democracy has always devolved into socialism & communism.
Armstrong now advocates Democracy. The problem isn't so much the system.
The problem is human nature. Everybody wants to live an easy life supported by the work of others.
A democratic republic was hoped to be the solution as offered by the founding fathers.

Now, there is a big push to eliminate the electoral college. This would further enslave / impoverish the rural areas in debt-service to the much more populated cities.
The beggars, bankers and bureaucrats see funding slipping away as the producers grow ever-poorer.
The new domestic terrorism laws are expected to keep the producers hard at work and locked down.

NOBODY will be allowed to write or speak of anything that has to do with freedom of any kind.
Armstrong;
All the scenarios of gold etc., as the hedge against inflation will fail. We are in a world where you cannot transfer all your assets into gold and hop on a plane — they will confiscate everything you have. We will be running Socrates on overtime. It appears we have higher volatility coming from a February turning point. But in all honesty, we will probably have to restrict those suggestions to the private blog because we have blocked Google from searching that forum — the Basic Level of service that includes private blog access is only $15 a month. We will have to let Socrates do the forecasting, for there can be no bias nor allegations of a computer being a domestic terrorist. Everything that 9/11 did to target foreign terrorists will now be turned inward against Americans if you are using the words “freedom,” “rights,” or “liberty.”
https://www.armstrongeconomics.com/p...ates/what-now/

Armstrong;
ANSWER: We have entered a new Cold War which will eventually turn hot. The Politicians are using COVID to destroy the economy deliberately to usher in a new age of Authoritarianism.
The world is falling apart and every possible thing the Democrats are doing is leading to the Great Divide which will fracture the United States and fulfil what our model has been forecasting to my regret.
This is not a forecast that gives me any pleasure. I simply interpret what the computer has done. There will be no returning to normal. We have passed the point of no return. Now we have to look at where to park money to survive the chaos ahead.

Armstrong predicted the crash in sovereign debt. The State is / was well aware of the approaching crash.
The bond vigilantes would no longer buy State debt. The CB took that over.
The stock market had no earnings. The CB / FED took over the job of pumping up markets. You got richer on paper because stocks rose regardless of earnings.
Wet ink money supported all the markets.
Excellent article from C. H. Smith.
https://www.zerohedge.com/markets/fi...ancial-tidbits
4. Financial assets as a percentage of Gross Domestic Product (GDP) hit an all-time extreme. Note that in the "Glorious Thirty" postwar years (1946-1975) of broad-based prosperity, financial assets were around three times GDP. Now financial assets are over six time the GDP.
This ratio increased with every one of the three bubbles since the mid-1990s: the dot-com bubble in 1999-2000, the Global Financial Meltdown in 2008-09 and now the bubble of 2020-21
Each bubble has been bigger because the POTUS didn't want a crash on his watch.
https://www.zerohedge.com/markets/fi...ancial-tidbits

The CB has bought up every market to try to keep sentiment from creating a final crash. At the same time, the Marxists are deliberately trying to crash the economy.
1/14 Lockdowns: one of the greatest economic blunders in history – Daily Reckoning

It doesn't look to get any better.
965k Americans filed for first time jobless claims in the first week of 2021 - a massive jump from last week's 784k and well above expectations of a 789k rise...
Stocks, Yields Rise On Expectations Of "Biden's Trillions"

World Bank Head Sees "Quiet" Financial Crisis Brewing As Pandemic Lingers

Yields Surge As Stunned Traders Learn Biden To Propose Massive $2 Trillion Stimulus

A Nation Imploding: Digital Tyranny, Insurrection, And Martial Law

How COVID Paved The Road To Serfdom

California Is Worse Than You Think
here is little or nothing that the current progressive state government has done that promotes the promotion of real wealth in California, yet even as state authorities actively destroy economic opportunities, the voters respond by demanding more of the same...

[Danny B]

2 good articles;
"A window of euphoria as a $21 Trillion economy digests $10 Trillion of stimulus. What happens after that?"
https://app.hedgeye.com/insights/942...euphoria-close
Designed to fail
https://www.oftwominds.com/blogjan21...-fail1-21.html
https://kunstler.com/cluster****-nat...and-wonders-2/

Short post but, it self-erased 3 times

[Danny B]

Notes from Zero hedge;
Record Wall Street Euphoria Is About To Trigger First BofA "Sell Signal" Since 2008

Alibaba Shares Tumble As China Makes Clear: Ant Group May Be "Torn Apart"
It isn't smart to be a billionaire in a communist country

The harbinger
https://www.zerohedge.com/markets/harbinger

Investing Legend Sees "Spectacular" Crash In "The Next Few Months"
Two weeks ago, investing icon Jeremy Grantham turned apocalyptic and warned that the "Bursting Of This "Great, Epic Bubble" Will Be "Most Important Investing Event Of Your Lives." Since then the market has generally continued to melt up, yet Grantham's conviction that all this will end in tears has only grown, and in an interview with Bloomberg today, the co-founder of GMO who correctly called the last two crashes, now predicts that Joe Biden’s economic-recovery plan will propel stocks to perilous new heights, followed by an inevitable crash.

Janet Yellen Talking Out Of Both Sides Of Her Mouth
During testimony before the Senate Finance Committee, Treasury Secretary-nominee Janet Yellen talked out of both sides of her mouth. She acknowledged that too much debt is problematic, but in the same sentence, insisted we need to “act big” to rescue the economy.

Armstrong has this on one of his articles;
"Then Biden authorized a secret hidden message in its HTML code on his WhiteHouse.GOV site. It simply said for anyone who would look at the HTML code: “If you’re reading this, we need your help building back better. https://usda.gov/apply” Following that secret code led me to their application."
So, we can assume that the present administration does NOT have a phucking clue of what to do.

Only 36 Hours Into Biden's Presidency, 45% of Americans Don't Like His Job Performance

[Danny B]

BIG GOV and BIG tech may be in bed together BUT, it is the working man who is getting raped.
"They" form cartels of regulation & robbery. They bust unions, tax & fine us to death. The inheritance tax comes after death.
They steal our every penny to keep us working.
https://internationalman.com/article...ing-new-order/
Unfortunately for everybody, automation & outsourcing have severely eroded the tax base.
"They" resorted to selling more & more bonds. Legitimate bond buyers are nowhere to be found. ZIRP chased them away.
State bureaucracy grows by 6% a year while legitimate funding is shrinking.
The Federal Reserve is funding sovereign bond purchases. They are also funding the stock markets.
Fracking lost $280 billion that, obviously came from the FED.
90% of the rise in stock markets is due to the FED

Purchasing power has been static since we went off the gold standard. They lengthened our payment schedule to reflect our diminished earning power. None of this is unknown to the State.
Jim Rickards: 16 Intelligence Agencies Have Issued Alarm Report On US Dollar Reserve Status. 2014
The State has no intention of withering away, no matter what happens to the little guy.
The State will print to save the State.
But, each rescue takes far more liquidity that the last rescue.
https://www.oftwominds.com/photos202...eturns1-21.png

"Last year the Fed had to print over $3 trillion in three months to "save the markets" from a reckoning with reality. Take a quick look at the chart below. Notice how the Fed's "saves" are tracking a near-parabolic curve. So will the next "save" require $5 trillion, or will it be $7 trillion?"
http://charleshughsmith.blogspot.com...fed-fails.html
America is most definitely fascist. The politicians & FED will destroy the dollar to TRY to preserve the corporatocracy.
"They" can't tax anymore and, they can't sell bonds. The other choice is to inflate the money supply.
Inflating the money supply without creating more goods and services is the best way to get price inflation.

“When you have reached this level of obvious super-enthusiasm, the bubble has always, without exception, broken in the next few months, not a few years.”
https://www.zerohedge.com/markets/in...ext-few-months
"6 Months For A Regime Change": Why One Strategist Believes The Market Will Crash In The Second Half Of 2021

When Boom Turns Into Crack-Up Boom
“The final outcome of the credit expansion is general impoverishment.”

Elon Musk Now Wants To Drill For Natural Gas In Texas
BUT
Combined, that would put volumes of flared and vented gas from America's two biggest oil fields at 493.2 Billion cubic feet per year.

[Danny B]

U.S. GOV has the possibility of;
Saving the currency
OR
Saving bloated markets
It has chosen to (temporarily) save the markets.
When the purchasing power of the middle class was wiped out, GOV chose to save the rich by printing up new liquidity.
Since crony capitalism has the same result as outright fascism, the GOV is trying to save itself at the same time.
The State knows that the final outcome will be price inflation that destroys purchasing power but, printing is the first AND last resort of the non-producers. It is all they know.
The major States are in a war to competitively destroy their national currencies.
https://www.zerohedge.com/markets/cu...-wars-are-back
A currency war is a war against citizens, their salaries and their savings, to benefit inefficient and indebted sectors.

"Now, out of the blue, the experts-for-hire have a new scheme to justify continued fiscal irresponsibility: modern monetary theory. It holds that so long as interest rates are lower than inflation rates, politicians can spend away."
https://www.zerohedge.com/markets/go...rives-darkness
OK, how do they keep interest rates low? They flood the economy with new money.
How long can they flood the economy with new money and still keep price inflation low?
They have to drastically open the money spigots wide enough that there is some kind of lag between monetary inflation AND price inflation.
They can never slow down the increases but, every increase wipes out savers.

The State being a parasite AND having the guns & lawbooks is especially bad at fiscal responsibility.
"Whenever human beings gather to accomplish a task, any task, without strong and effective oversight, a natural evolution takes place. Whether it be in business, academia, philanthropy, or government, every activity morphs from the original goal to self-aggrandizement. In government, this process is particularly toxic. There are no profits, let alone a profit motive. No concern with productivity. No incentive to turn off the proverbial lights. No measure of success. No motivation to end counterproductive activities. "
https://www.zerohedge.com/markets/go...rives-darkness

Armstrong,"The entire World Economic Forum’s advice is to default on national debts and the way to do that is to pretend it is for your benefit. They will eliminate all your debt from mortgages to credit cards and student loans, but the government would then own all the property in true Marxist style."
https://www.armstrongeconomics.com/f...-of-the-chaos/
It is obvious that the State parasites can not survive in a capitalist system.
They have chosen Marxism as a survival strategy.

The republicans lean toward capitalism. The democrats lean toward Marxism.
It makes sense that the Dems would lead the charge towards total control & full-on Marxism.
https://www.zerohedge.com/political/...one-party-rule

[Danny B]

All that liquidity inflation is going to cause a lot more price inflation.. What happens when we can no longer afford the basics?
https://globalgovernment.politics.bl...ancial-crisis/
Kunstler gives us a rundown on what to expect.
https://kunstler.com/cluster****-nation/flying-blind/

The dollar continues to get weaker
https://www.bloombergquint.com/gadfl...just-beginning
There is little said about how automation kills jobs.
The new low-dollar robots are coming to market.
https://www.armstrongeconomics.com/a...alized-robots/
Reportedly, there is a food crisis coming.
https://www.armstrongeconomics.com/m...g-food-crisis/

Armstrong; "the future will be now that Biden has also joined this “Build Back Better” movement. On his very first half day, he rejoined the United Nations which will only lead to rising unemployment as jobs will be deliberately destroyed and people will try to be retrained without success. They are deliberately creating what is being called the future “useless class” who will be permanently unemployable."

1/26 GE shares jump as upbeat cash-flow forecast suggest turnaround – Zero Hedge
Yeah right,,, cash flow
1/26 2.7 million people continually postpone their mortgage payments – Mish
1/26 U.S. suffers sharpest rise in poverty rate in more than 50 years – MSN
1/26 Unemployment is much worse than you think — here’s why – Politico
The bureau of labor standards has always been a lie factory

1/26 Why are house prices rising amid the worst economic crisis since WWII? – CGTN
Could it be because the FED is pumping $trillions to speculators?

Fourth Turning Detonation
https://www.theburningplatform.com/2...ng-detonation/

[Danny B]

Bloomberg;
America's net domestic savings rate has fallen by the most on record, making the economy even more reliant on foreign money.
ByStephen Roach
January 25, 2021

US Economy Set To Overheat As Households Are Flooded With $2 Trillion In Excess Savings
https://www.zerohedge.com/economics/...excess-savings

Ron Paul
https://www.youtube.com/watch?v=5MHJL-jc-Io

[Danny B]

Well, GOV is flat broke. They can't tax unemployed people. The next best thing,,, print money and make everyone pay the "inflation tax"
There are still lots of people who hide money or trade in the black market. The State continues to grow,,, even if the underlying economy shrinks.
It wants a chunk of every dollar out there. The obvious answer is to get rid of paper money and limit transactions to digital. No more swap meets or lemonade stands.
It is obvious that the plandemic was rushed. Trump was an existential crisis to the plans of the money masters.
Klaus Schwab says that you will own nothing in 10 years. This too, seems like a rushed timeline.
What will be the bridge that brings us from the present to our penniless utopia?
Apparently, it will be digital money that provides the bridge.
https://www.zerohedge.com/markets/20...hree-years-bis

Armstrong said that they plan to cancel all government debt.
Reportedly, the government will cancel all of YOUR debts.
Presumably, they will take all your stuff at the same time.
What happens if you have no debt?
What happens if you don't want to give up your stuff?
I suppose that GOV can just take over every bit of the banking industry.
https://www.zerohedge.com/markets/20...hree-years-bis

From Financial Times
A mouthpiece of the self-appointed global elites.
"Opinion US economy Joe Biden and the ‘great rebalancing’ of the US economy The share of national income paid to workers may finally rise
“It’s time to reward hard work in America — not wealth.” That statement from US president Joe Biden is perhaps the most concise expression of the new administration’s economic policy plans. Mr Biden wants to increase the national minimum wage, raise taxes on corporations, and start to tip the balance of power between labour and capital. The labour share of national income — the amount of gross domestic product paid out to workers, in wages and benefits — has been declining in the US and many other developed countries since the 1980s. The fall since 2000 has been particularly precipitous, leading to stagnant pay, growing inequality and a loss of consumer purchasing power."

"many companies that survive the pandemic will be looking to cut costs by replacing workers with technology. Indeed, automation is one of the key factors behind the multi-decade decline in labour’s share of GDP, according to a 2019 study by the McKinsey Global Institute. However, there are three big reasons why we may still be at a key inflection point in the US labour-capital divide
Third, global demographic trends that have disadvantaged workers are finally reversing — and, for labour in the US, this may prove the biggest tailwind of all. As Charles Goodhart and Manoj Pradhan explore in their book The Great Demographic Reversal, the balance of power between labour and capital is all about supply and demand. Over the past four decades, the full entry of baby boomers into the workforce, including a growing proportion of women, plus the rise of China and other emerging markets, has created the largest positive labour supply shock ever seen. Given this, a weakening of labour relative to capital was inevitable. Now, all of those trends that so depressed wages for 40 years are largely tapped out"
Well, shoot. Open the southern border and drive the wages down again.

"No wonder six of the 10 jobs that the US Bureau of Labor Statistics expects to grow fastest in the next decade are in nursing, therapy and care services. These jobs are part of what the new Biden administration has dubbed “the caring economy”
The robots are already taking over these jobs.

In short, the current administration has no idea what to do.

[Danny B]

The abandonment of the gold standard has allowed the State to print money to pay it's bills. This has never worked in the past.
When a State accumulates too much debt, it is drug down by interest payments.
The current plan is; print the money debt-free. The expected out come is; general price inflation.
Here is an excellent article.
https://goldswitzerland.com/the-phil...ecious-metals/

What kind of outcome can we expect?,,, when?
https://pentoport.com/when-will-the-party-end/

[Danny B]

The State needs money to keep the gravy train going for 175 million Americans.
The banks have money. A marriage made in a bank vault.
https://claudiograss.ch/2021/02/the-...to-one-entity/
“The bank and the government have essentially blended into one entity”

"The economic impact hence is no doubt all encompassing and severe. Fact is that even prior to the ‘Covid crisis’, the economy was not doing well, as it never managed to recover from its 2008 shock"
"The initial drop in US GDP was somewhere between 10 to 15%, according to independent analysts. This figure is at least twice as big as the 5% drop witnessed in the 2008 historic crisis. The US unemployment rate has skyrocketed from an already alarming level of 20% to well above 30%."
TWO, https://claudiograss.ch/tag/central-...g-never-works/

Volatility going forward'
2/03 Senate approves budget process for passage of $1.9t stimulus – JTN
2/03 Volatility spike shocks markets – resets trend systems – Technical Traders
2/03 Economics’ failure over destruction of nature presents ‘extreme risks’ – Guardian
This signals a new course of reducing man's assault on nature.