Economic pressures

[Danny B]

default all Armstrong nails it again.Ah yes, the critics. The critics are totally FREAKED OUT that Greece would just default and tell them to go piss up a rope.
Eurozone crisis - Greece could ditch euro for US dollar claims Trump man Ted Malloch | Politics | News | Express.co.ukDisagree; currency has a critical utility value in the lower loop. Bonds do NOT.

"this is a battle shaping up for the future; the final conflict over Marxism, which began with the fall of Communism in 1989. This final battle began 26 years from 1989.95."

https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/the-ship-is-sinking/

[Danny B]

Educated idiots

Reading available articles on economics is like reading literature on free energy. There is so much bogus info, it makes you wonder why people bother.
Jeff Berwick is a gold bug and a smart guy. He says that Trump should default. That's like saying; drain the water out of the reactor and pull out the graphite rods.
America imports "Total crude oil imports averaged 8.1 million b/d in November, which was an increase of 446,000 b/d from imports during October 2016. "
So we blow the bond market, and pay for oil with WHAT?
TRUMP SHOULD DEFAULT ON DEBT | Jeff Berwick | Silver Doctors

Michael Pento;
"In the short-term a successful implementation of Trumponomics equates to a stronger dollar, higher bond yields and rising borrowing costs."
He actually sells a news letter
Stronger dollar: nobody buys our exports.
Higher bond yields: Debt-service costs go through the roof.
Rising borrowing costs: This would wipe out the entire corporate sector. Only 2 companies have AAA rated credit.

http://www.24hgold.com/english/news-gold-silver-what-is-trump-s-dollar-policy-.aspx?article=10395673298H11690&redirect=false&contributor=Michael+Pento&mk=1

It's far too late for sound money because the whole world would have to have sound money for it to work.
What Will Trump Do About The Central-Bank Cartel? | Zero HedgeWe don't need no stinking information, we have MODELS.
‘Fed Up’ exposes the elite rot inside the Federal Reserve - MarketWatch

[Danny B]

Chapter 11 for you and me

I'm trying to take a group of simple ideas and build a complex structure,,, with a simple conclusion. Start with;
Confessions of an Economic Hit Man [John Perkins] Chapter 11 Bankruptcy for Nation-States!"
"Although the global banking elite would love to put Argentina up against the wall, they must however be cautious regarding the precedent this would create that could bring mischief to on-going debt restructures in other parts of the world, especially in the European Union."
Ah yes, the European union.Yes, planned rape by the bankers.Can countries go bust? IMF created new form of modern mass slavery | Adrian SalbuchiSovereign Debt for Territory: A new Global Elite Swap Strategy | Adrian Salbuchi

I'm not done yet,,, moving on;
"When James Baker made his keynote speech in 1987, he stated that, �No longer will the World Bank carry this debt unsecured. The only assets we have to collateralize are federal lands and national parks.� Baker�s definition of federal lands includes Heritage sites, of which there are about 20 in the United States"
" At the same time there is a bill before Congress called the Northern Rockies Ecosystem Protection Act that would increase the acreage of designated wilderness by 50% in the lower 48 states. *** While our Heritage sites take in quite a large amount of territory, such as Yellowstone National Park and Mesa Verde, the Grand Canyon and the Everglades, "
"Throughout the entire Draft National Animal Identification System Users Guide, land is referred to as a premises and not property. A �Premises� has no protection under the Constitution of the United States, while property always has the exclusive rights of the owner tied to it. Property rights are protected by the Fifth and Fourteenth Amendments of the Constitution.

The word �Premise� is a synonym for the word tenement. A definition of the word tenement in law is: Property, such as land, held by one person "
"I am convinced that the word �premise� will put an encumbrance on your deed. The bankers say they want to monetize land. It�s your land and my land they want to monetize."

https://www.newswithviews.com/brownfield/brownfield59.htm

So, sovereign debt crashes and the bankers have to settle for what they can take. Just what do you think that might be? The WWF has already been quite active at screwing anyone they can.
"The idea was to propagandize for "debt for natural re*sources swaps," such as those the WWF has arranged with Bolivia, Ecuador, and Costa Rica. Although Mrs. Wood worked ardently to play up its economic advantages to the debtor countries, her numbers were so ridiculous that she ended up recognizing that "the debt is not reduced panelists thus revealed that the whole package is nothing but a scam"

http://www.larouchepub.com/eiw/public/1990/eirv17n43-19901109/eirv17n43-19901109_008-debt_for_nature_marauders_target.pdf

MAP: Six National Monuments Where Oil and Gas Production is Currently Occurring – Center for Western Priorities
Yep, the bankers love oil and gas.
So we go into a crash of sovereign debt. The bankers offer to bail us out,,, for a price.

[Danny B]

less earnings,,, more credit

GDP is growing slowly. What does it cost to make GDP grow?
$32 billion increase in credit-card borrowings, IN 90 days
The rise brought total consumer debt to $12.58 trillion, just shy of the $12.68 trillion peak in the third quarter of 2008.
Student loan balances rose to a new record high of $1.31 trillion, and auto loan debt also increased to a record $1.16 trillion in the 18-year history of this data series. What could possibly go wrong?
Is This What They Mean By “Crack-Up Boom”? - DollarCollapse.com

Headlines;

Beware of gravity.
Give it time and it will be a biggerer disaster.
That is not possible. It cost $ 2.1 billion to build the website so, nothing can go wrong.

That will result in the mother of all crashes.
What, do you mean that their wages are not rising?
"Fret" is the word for the moment. There will be a new word later on.

[Danny B]

Nope, it's not a science

Here are the top 30 universities for economics; Best Schools For Economics - Business Insider
Here are the 9 major "Schools" of economic thought; https://mises.org/blog/nine-schools-economic-thought
They did leave out Modern Monetary theory.
From Investopedia; "What does 'Animal Spirits" mean

A term used by John Maynard Keynes used in one of his economics books. In his 1936 publication, "The General Theory of Employment, Interest and Money," the term "animal spirits" is used to describe human emotion that drives consumer confidence. According to Keynes, animal spirits also generate human trust."
So, in short, he didn't have a phucking clue about the dynamics that have such a huge effect on people and markets.

Hugo Salinas Price; "Specifically, we refer to "Mainstream Economics" - the "Economics" that is taught today at every single prestigious university in the world."Mainstream Economics" is the child of Physics, and it looks and walks and talks like its parent, Physics:
First of all, the central fallacious concept: "The Economy"
"thus by definition, economic activity has to be denominated in a number of units of money. Thus, all human choices that do not require the use of money escape the attention of the mainstreamers"

"Where the babbling becomes utterly disconnected from any human reality is when the variables are assigned quantities, just as variables are quantified in Physics, and are then combined in mathematical functions to produce indecipherable equations.

Mainstream economists love equations, they adore the simplicity of E=mc2.
But human activity does not operate on the basis of equating one thing with another, it operates by choosing between what is preferable and less preferable, in other words, not by equating things, but by differentiation in power of satisfaction."
"The mainstream economists, as such, consider humans as simple machines which consume or produce, and treat us as such, in their specious formulas. The valuations or preferences of flesh and blood humans are disregarded because numbers cannot be assigned to them.

Since "Mainstream Economics" is only a sham science that imitates the methodology of Physics, it turns out that "economists" - at the Fed, at the ECB, and at every Central Bank in the world - in fact do nothing "scientific" at all; they do nothing more than impose upon whole nations their own personal value judgments while they destroy the free markets, that are truly impersonal."
"The "New Austrian School of Economics", as presented by Professor Antal E. Fekete on his website, Professor Antal E. Fekete, is true Economics. Based on the original thinking of Carl Menger, the founder of Austrian Economics, this school rigorously avoids the error of following the methodology of the Physical Sciences. Our present "mainstream economics", like Physics, uses Numbers, as opposed to the "New Austrian Economics" which is based on Principles of Logic. Unfortunately, both the "Austrian Economics" of Ludwig von Mises and the improved "New Austrian Economics" of Fekete are quite out of favor in academic circles today.

"Mainstream Economics" imitates the methodology of Physics because of the enormous prestige that has accrued to Physics over the past four centuries, and is thus leading the world to an economic, political and social collapse which will mark the end of an Age."
.:Plata:.

[Danny B]

A world run by idiots and parasites,,,, degrowth

So, the world is saturated with well-paid economists who don't have a clue of how the world works. MANY if their recent endevours have failed to work as planned OR even worked the opposite as planned. China DESTROYED the wage level in the West for manufacturing jobs. China just figured that they would magically morph into a big consumer economy. WHERE did they imagine the disposable income would come from at slave wages?
Globalisation isn?t going away, nor is it to blame for the world?s economic woes | South China Morning Post

The Central Bank is there exclusively for the speculator class. They add no value to the things they manipulate. The speculator class exists ONLY to jack up prices to those in the lower loop. They are maintained by the constant monetary inflation. The FED figures that we need 2% per year money growth. This constant monetary inflation is NEVER offset by wage inflation. Leaving the gold standard has given an enormous profit boost to the upper loop at the expense of the lower loop. The CB prints,,, they speculate,,, we pay more.
This Is One Of The Big Reasons Why So Many Families Are Feeling Extreme Financial StressMaking America Broke Again: Trump & The Inevitable Financial Crisis

As the economy shrinks, who is going to take a reduction?
" Everyone turns on their most compelling emotion-based defense: "we wuz promised" is a reliable standard, as is "we need more money to defend the nation from the rising threat of XYZ." "Help those in need" plays the heartstrings effectively--as long as the "help" comes out of somebody else's pocket.
Everyone sharpens their knives, the better to carve a slice off somebody else's slice of the pie. A passive-aggressive free-for-all ensues as everyone reacts with aggrieved defensiveness to any attempt to diminish their slice, even as they launch shrill attacks on everyone else's defense."
"Here's the current federal spending pie: 55% is entitlements and interest. Both of those are set to soar as the populace ages and interest rates rise."

"We haven't "grown" at all. What we've done is borrow from future generations to create the illusion of growth"
"Fragmentation, discord, discontent, class war: this is the inevitable result of a shrinking pie. Our political, social and economic systems have no history or memory of how to navigate this systemic Degrowth successfully."
oftwominds-Charles Hugh Smith: This Is How the Status Quo Unravels: As the Pie Shrinks, Everybody Demands Their Piece Should Get Bigger

[Danny B]

America will no longer be allowed to run a trade deficit

Jim Willie; "The Petro-Dollar system has stood for 45 years. It has decayed into tatters. Its derivative foundation is being liquidated, a long painstaking process. A new disruptive model was forged in 2014 when Iran sold India oil, which was paid in gold, but delivered from Turkey. Gradually emerging is the Gold Trade Note, first in oil payment then later in general payments in shipped goods. It is evolving within the Chinese market from Russian energy sales, all conducted outside the USDollar sphere."

"The Petro-Dollar has been effectively replaced with the mechanisms of a Petro-Yuan erected on the Gold table. The Chinese are putting in place a link between oil and gold, once again like before the Bretton Woods Gold Standard was violated by Nixon in 1971. The Gold Standard is emerging, with respect to the oil market. "
" The Gold Trade Note is en route to supplant and to replace the USTreasury Bill within the global payment system. The USDollar has been incredibly abused, with monetary printing used to cover USGovt deficits, to redeem toxic bonds held by Wall Street banks, to justify the US trade deficit, and to finance endless wars. "
"With barter and the oil for gold sales, the elements were coming into shape for the Gold Trade Note. The nefarious bullies in Washington had been outwitted while giving the death sentence to the Petro-Dollar, and a death warrant to the USDollar. "

"Consider it another gigantic backlash from yet another illicit war. The USGovt and Israel kicked off the fascist coup in Kiev Ukraine, but the joke was on the Petro-Dollar, again a victim of severe blows to the groin. The Russians began both massive oil & gas sales with China, paid in RMB, but also energy pipeline construction to connect the two Asian nations. The construction would be paid in USTreasurys held by China."
Gold Trade Note Sighted

I suspect that the bankers will still insist that we must keep the military in Afghanistan, Drug Wars: 70% of the heroin in US streets comes from Afghanistan - Jim Willie

[Danny B]

Oil priced in gold, once again,,, where did all the money come from?

The mega-criminals are doing (almost) everything possible to get a war with Russia and Iran. I imagine they are doing this because of oil. They are trying to do an end-run around Trump to get things kicked off.
"Between 1865 and 1973, the price of oil was incredibly stable against a backdrop of perhaps the greatest simultaneous economic, demographic and technological expansion in human history.
How was that possible?
Well simply put, because oil was effectively priced in gold.
However...Once the gold window closed and the petrodollar system was implemented, the price of oil soared 50-fold in just 35 years."
The article has great charts and graphs.
Things That Make You Go Hmm... Like The Death Of The Petrodollar, And What Comes After | Zero Hedge

Almost our entire finance system is focused on supporting the non-producers. A LOT of people got rich. Where did the money come from? The FED inflated the money supply by about 2% a year. Recently, the CB has been buying LOTS of stocks. Labor's share of the economic pie has been steadily shrinking. The bond market is expected to be repaid by future workers
The money was ALL puled out of the pocket of the producer. That which wasn't pulled out of the pockets of current producers is expected to be pulled out of the pockets of future producers.
With ~ 95---100 million producers not at work, the equation just doesn't work. FED GOV debt is reckoned to be at least $40 trillion. If it didn't go into the pocket of the working man, it must have gone into the pockets of the parasites.

The investor class couldn't / wouldn't pay adequate wages so, the middle class slips away. Regulatory capture allowed them to avoid taxes. When the transaction tax (Tobin) was proposed, they threw up their hands in horror. NOTHING could be allowed to cut into their profits. They keep stacking the debt notes higher and higher. They have lost sight of the fact these debt notes can only be repaid by somebody with money. Who has the money?
ALL debts must be paid by either the debtor or the loaner. In the Lapse of Luxury: When the Rich Stop Spending

https://www.rt.com/business/377677-greenspan-eurozone-not-working/

The Household Debt Meltdown
Nobody can resist the siren call of credit and free money.

[Danny B]

We mis-spent our fortunes

Reserve-currency status meant that everybody sent us their money. We could have built a worldwide trading empire. Alas, it was not to be. We built a worldwide military empire. Shumpeter called for creative destruction to keep the economy producing. Keynes called for perpetual war to keep everybody employed. Israel used regulatory capture to promote endless war in their favor.

Alibaba'a Jack Ma Drops a Redpill in Davos: The U.S. Wasted $14 Trillion on Wars Over the Past 30 Years Alibaba'a Jack Ma Drops a Redpill in Davos: The U.S. Wasted $14 Trillion on Wars Over the Past 30 Years | Zero Hedge
America is laid to waste, 11 Deeply Alarming Facts About America's Crumbling Infrastructure | Zero HedgeGive him credit for trying.
The Great Wailing | Zero HedgeBS, it was triggered by manipulation and a loss of wages. That 25% increase in the issuance of free-money was what it took to keep the upper loop from crashing.

https://www.goldbroker.com/news/endless-financial-crises-are-inevitable-here-why-1085

Yep, free money endlessly created to keep the speculators rich.

Australia is still in the news; Apocalyptic warning for Australian families

Information deficit;
"At first it, issuing more currency feels good because those closest to the money printing get stinking rich while doing practically nothing. As that trickles down, everybody initially feel smart and wealthier. Well, not everybody; but those running the system sure do."
"Our grand experiment in debt-based fiat currency -- unbacked by anything tangible, like gold -- began on August 15th, 1971 when Nixon unilaterally broke the Bretton Woods agreement and forced the entire world off of the gold standard. Not that the world minded much, because this then meant that politicians and monetary hacks everywhere could ignore centuries of economic lessons and begin making exorbitant promises by printing currency like mad. "

"We see that debt has shot up by a factor of 40 while income has only increased by a factor of 17. We have indeed grown our debts wildly faster than our income over the past 45 years".
"What have they done with the trillions in "thin air" currency they have printed up? They handed them to the big banks, to speculators and the already wealthy. Which should come as little surprise. These are the people they count on for their high-status jobs, as well as the big payouts awaiting them when they return to the private sector."

Part two; " the bankers and politicians are already frantically at work on the only question they care about: Who, instead of us, is going to eat the losses?"
Well, who has all the money?

https://www.peakprosperity.com/blog/107199/mother-all-financial-bubbles

More parasites.
"the amount of dollars it takes to produce a dollar of real growth. That amount has been increasing, and fast, to the point where it takes over $10 to create $1 or growth in the US and Europe"

St. Louis FED; "The U.S. economy expanded by 1.6% in 2016, as measured by real GDP. Real GDP has averaged 2.1% growth per year since the end of the last recession, which is significantly smaller than the average over the postwar period (about 3% per year). These lower growth rates could in part be explained by a slowdown in productivity growth and a decline in factor utilization. However, demographic factors and attitudes toward the labor market may also have played significant roles. "
I'm glad to see that they made at least a slight mention of labor.

https://www.theautomaticearth.com/2017/02/not-nearly-enough-growth-to-keep-growing/

America channelled too much of it's productivity into war instead of it's own people,, own country. The war-mongers on the Mediterranean drug everybody down until we "believe" that perpetual war is the norm.

[Danny B]

Of course, the FED couldn't managed the Great Depression. The FED had caused the Roaring 20s by inflating everything in sight.BIG mistake.NO,,, to keep the bankers afloat.they only POSTPONED the pain.The FED prints money and is quite certain of where that money will flow.

https://www.linkedin.com/pulse/how-fed-went-from-lender-last-resort-destroyer-american-booth

I'm SURE that the PTB would like the SDR to be the global money. There is an ongoing battle between the SDR and gold."There's Something Weird Going On": Jeff Snider On The Global Dollar Shortage | Zero Hedge

"In 2013, policy makers largely ignored two Oxford economists who suggested that 45% of all US jobs could be automated away within the next 20 years. But today that sounds all but inevitable."
"Automation is inevitable. But we still have time to take action and help displaced workers."
"Bill Gates recommends we tax robotic workers "
"Elon Musk recommends we adopt universal basic income "

https://medium.freecodecamp.com/bill-gates-and-elon-musk-just-warned-us-about-the-one-thing-politicians-are-too-scared-to-talk-8db9815fd398#.db5iu2v2b

[Danny B]

The collapse of socialism will bring a LOT of death.

Madison Avenue told us to spend, spend, spend! The bankers told us to borrow, borrow, borrow! FED GOV and SS told us that they would take care of us when we were to old and infirm to work. The money supply was growing at 9% per year. Nowhere did they teach prudence and restraint.
"There are close to 76 million baby Boomers (born between 1946 and 1964) alive today representing 28% of the total US population. Starting in 2011, an estimated 10,000 Boomers have been retiring every day and that trend will continue for at least another 10 years."

Only 55% of Boomers have saved money for retirement.
59% of Boomers cite Social Security as their major source of retirement income.
Health care costs consume 33% of income amongst Boomers age 60 and over.
Economic satisfaction has fallen from 76% in 2011 to 43% in 2016.
1 in 3 Americans has $0 saved for retirement.
Women are less prepared for retirement than men.
28% of Americans over 55 have no retirement savings.

"1 in 5 individuals age 85 and older who died between the years 2010 and 2012 had no assets other than a home, 1 in 6 died broke, and 1 in 10 died with an average debt of $6,000."
The Four Horsemen of the Retirement Apocalypse | James J Puplava CFP | FINANCIAL SENSE

"In 2015, Wall Street Bonuses, not regular compensation, bonuses, seven years after they were bailed out with the public purse, totaled $29.4 billion dollars. Total compensation paid to every single person in this country who makes minimum wage totaled $14 billion..."
"The replacing of honor and duty with egoism and greed as the most honored of civic virtues was a long and slow process."
"The crux of the problem is the huge imbalance between corporate power and the ability of worker's to achieve increasing wages. Without increasing wages, broader aggregate demand in the form of consumption cannot be sustained."
Jesse's Café Américain: Stocks and Precious Metals Charts - Three Day Weekend - Times of General Corruption

Armstrong has plenty to say.
"The Social Security system is likewise a disaster. I tried to convert it into a wealth fund almost 20 years ago. The Democrats blocked it for anything to do with the free markets to them was risky."
"Nobody would have sat down and designed a financial or political system as we have today. This whole mess is just total insanity. It does not take a conspiracy, it takes stupidity. "

https://www.armstrongeconomics.com/world-news/pension-crisis/the-total-lack-of-common-sense/

"forecasting a Great Depression for 2017. Have the monetary powers delayed this?" "ANSWER: No. 2017 is the start of this whole mess."
"This was equivalent to the 1923 turning point in a basket of currencies back then. So the 2009 target was correct and this implies that the 2017 target should also be correct. This year 2017 will be just the beginning."

https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/sovereign-debt-crisis-cycle-due-2017/

https://www.armstrongeconomics.com/international-news/politics/the-left-is-intentionally-creating-a-coordinated-revolution/

"As we head into April/May, we are looking at a real crisis emerging that is beyond contemplation. The prospect of the breakup of the European Union because Brussels refuses to consider that their dream of ruling all of Europe is coming to an end. "
"The real crisis behind the curtain remains not TRADE, but BANKING. The EU hired over 20,000 people to regulate the European banking system"
" All of this becomes a major risk and the European Central Bank holds 40% of all government debt in the Eurozone. The cracks in the foundation of the EU are tremendous and the ramifications will ripple through the entire global economy. The seriousness of this crisis is being ignored by mainstream media because they are too busy trying to undermine Trump because their own ratings have collapsed."

https://www.armstrongeconomics.com/world-news/banking-crisis/trade-v-banking-the-real-issue/

"The Bank of America stock, for example, has increased some 41% since Trump was elected on November 8. The Goldman Sachs stock has increased some 37% during this same time period."

http://www.munknee.com/todays-hyper-bubble-who-is-responsible/

The bankers are crashing the dollar and the Marxists are crashing the finance system.

[Danny B]

Printing to keep the bond market alive

Very quiet at the moment.
"Global central bank balance sheets are up from $6 trillion in 2007 to $21 trillion today and they are still being expanded at the pace of $200 billion each and every month. "
"So you can tell, anybody with any objective, critical, independent mind can tell this is an unsustainable, very ephemeral rally in stocks that has occurred since 2009. And when the bond market breaks, when that bubble bursts, it will wipe out every asset -- everything will collapse together -- because everything is geared off of that so-called 'risk free' rate of return.

If your risk free rate of return has been warped down to 0% for 96 months, then everything -- and I mean diamonds, sports cars, mutual funds, municipal bonds, fixed income, REITs, collateralized loan obligations, stocks, bonds, everything, even commodities -- will collapse in tandem along with the bond bubble burst."
Contra Corner » The Coming Bond Bubble Collapse
He made no mention of prostitutes?

"Share buybacks and capital returns, sometimes funded by debt, have been used to support share prices. In January 2008, prior to the global financial crisis, U.S. companies were using almost 40% of their cashflow to repurchase their own shares. Ominously, that position is similar today."
Satyajit Das Warns Financial Engineering "Has Masked The Global Economy's Precarious Health" | Zero Hedge

"The next crash will be concentrated in bonds this time. Keep in mind that Andrew Mellon said that Gentlemen refer bonds. That statement proved to also be fatal during the Great Depression. Countless foreign bonds defaulted and were delisted. A stock that goes into bankruptcy typically returns something unless it was a dream start-up. Government bonds MORE-OFTEN-THEN-NOT, simply evaporate and the government will never prosecute itself."

https://www.armstrongeconomics.com/armstrongeconomics101/basic-concepts/why-you-should-take-delivery/

[Danny B]

Using the printing press to put lipstick on a pig

The CBs printed lots of money and handed it out. The upper loop of the economy can't survive without perpetual monetary expansion. BUT, the FED wanted to attract capital outflows from weaker sovereign bond markets. The FED needed to appear conservative at the same time that it kept the money flowing. The FED needed to appear conservative so that it could outlast the rest of the CBs. At the same time, the FED has to uphold the appearance that it's bonds are attractive to the wider market.

China quit buying U.S treasuries some years ago. Not to worry, (Belgium, Luxembourg, Ireland, Cayman Island, Switzerland) took over and maintained the foreign bid until the Federal Reserve ceased QE.
Forget the fact that Belgium had NO dollars to buy U.S. treasuries and Ireland is the brokest of them all.
"But since QE ended, the domestic public is buying all net new marketable debt plus that which foreigners are not rolling over."
The chart; Yikes, can't post the link for the chart, It's about 400 lines.

2011 to 2014 the "public" was buying 27% of the treasuries
2015 to 2016 the public bought 119%.

https://econimica.blogspot.com/2017/02/treasury-buying-asset-valuationsim.html

119% includes maturing notes (rollover) and new issuance. Great gobs of money are flowing into the stock market. Same for corporate bonds. HUGE amounts are flowing into sovereign bonds. This is attracting capital inflows even though stock valuations are at 2.7 times historical valuations.

Armstrong says that the U.S. sovereign bond market will collapse. The FED is encouraging inflows to hold back the collapse.
The ESF and PPT are doing the job for the FED so that it can appear to be avoiding expansion in the money supply.

[Danny B]

https://jonrappoport.wordpress.com/2...-face-of-doom/

SO MANY writers,,, so little intelligence; https://hackernoon.com/the-bill-gate...e8c#.cztjfu5kd
David Autor: Will automation take away all our jobs? | TED Talk | TED.com
Various writers seem to think that re-training is the solution to runaway automation. 50% of the people in Detroit are illiterate;
Nearly Half Of Detroit's Adults Are Functionally Illiterate, Report Finds | The Huffington Post
It ISN'T going to get any better; Detroit Public Schools: 93% Not Proficient in Reading; 96% Not Proficient in Math
We spent $25 trillion on the "war on poverty" and,,, we lost the war.

It's not just Detroit, http://cdn.cnsnews.com/styles/conten...?itok=3T0trV1z
The parasites drained away the money and destroyed the nuclear family.
"'The welfare state has done to black Americans what slavery couldn't do. . . . And that is to destroy the black family."

https://www.wsj.com/articles/SB10001424052748704881304576094221050061598

Work is an absolutely critical part of our lives and the Left, et al just don't understand.

[Danny B]

Interest and social credit

There are millions of bureaucrats "working" for GOV that serve no discernible purpose. They act as a conduit for GOV to inject money into the economy FROM the bond market. EVERYTHING is financed by wet-ink money. The more that things become automated, the more money GOV injects into the economy independent of actual productivity. BUT, this is debt money. The interest burden just grows higher and higher. So, what solution does GOV offer?
A Secret History of Money Power : Waking Times
The article goes on at length about social credit.
After the crash of the bond market, everybody who was sucking at the public teat is going to be destitute. Emergent socialism isn't really the answer. It ignores human nature. Social Credit may be the answer.

The State printed money with the false hope that it would create a trickle-down effect and help out everybody. History shows that this makes the rich that much richer and the poor that much poorer.

https://www.theguardian.com/commentisfree/2017/feb/23/unpaid-bill-precarious-poverty