Economic pressures

[Danny B]

Fables as far as the eye can see

It was learned long ago that the financial system locks up in a panic. Since everything is bought on margin and credit, everything locks up when confidence is gone. Banks won't risk their capital. The FED produces free capital to buy back confidence. Sure, there is an inflation price to pay but, that is better than a total lockup. The European have long been clamoring for the FED to lower rate and STOP attracting capital. At this point in the credit cycle, capital is looking for safety and stability, not necessarily interest.
NIRP is to be avoided also.
AKA junk or high risk bonds

Maybe yes, maybe no. Has anybody really factored in flight to safety?


Governments are bankrupt and, can't seem to attract investor money,,, something about confidence.

And the 50 government agencies buying these stocks.

That all depends on how much confidence you have in the regulatory agencies in any given jurisdiction. The more honesty that Trump brings to government, the more people will trust America with their capital. Forget China.

Ah yes, SALES. In all the focus on stocks, we have to remember that companies must actually sell something,,, not just buyback their stocks.


Sure thing,, just imagine Powell fronting this idea,,,, and Trump throwing him in prison. Not to mention European leaders arranging a firing squad for him.

What about capital punishment?

A deflationary boom is what happened to the Hindenburg.



Not for free-money speculators.

https://www.peakprosperity.com/are-you-truly-free/

https://beinglibertarian.com/misconceptions-of-natural-equality/

[Danny B]

https://ellenbrown.com/2018/08/23/how-chinas-mobile-ecosystems-are-making-banks-obsolete/

Moving on;

Credit Bubble Bulletin : Weekly Commentary: Central Banker to the World

https://sputniknews.com/world/201907151076250669-worlds-biggest-secret-money-lender-reportedly-revealed/

Remember, a lot of these loans are not in cash. They are loans to allow these countries to pay for Chinese goods and services. And, then WHAT?
Warning sounded over China's 'debtbook diplomacy' | World news ...

https://www.theguardian.com/.../15/warning-sounded-over-chinas-debtbook-diplomacy

If anybody is 'losing' on trade, it's China. We got $505B of its goods and only gave up $130B = a $375B 'goods surplus' - AEI


Maybe so, but we're better looking than China.

https://www.ccn.com/news/bitcoin-worse-negative-yield-sovereign-bond-gold-shill/2019/07/14/

BTC and some crypto just have to much loss due to theft,

The CBs want to kill it or, control it.

https://www.rt.com/business/464169-bill-big-tech-cryptocurrency/

Yes, but that would eliminate the bankers
"MMT does not claim that the government should create and deploy infinite money. It claims that money can be created and deployed as much as is necessary to improve general living conditions and eliminate unemployment until the currency begins to lose value."
Do you see it.? AS NECESSARY. Wars are a definite necessity.

http://www.gata.org/node/19239

The article is worth reading.

So, the battle is joined. The SDR is an early casualty. Same for the Euro. The Yuan can't survive the worldwide defaults against it's State banks.

[Danny B]

Yes, the markets have turned


There has been a LOT of groping going on.

There has been a lot of grinding going on also.

I don't remember wages rallying.
Red pill----Blue pill

https://northmantrader.com/2019/07/14/the-choice/

You should of bought gold.

https://www.ccn.com/news/dow-impact-citibank-reports-excruciating-earnings-recession/2019/07/15/

[Danny B]

Greed changhing to fear,,,,China, GOOD reason to hold fear

Much of the economy is "maintained" by confidence & fear. Fear of missing out,,,, fear of losing everything. Even though the various agencies are still pumping money into the markets, that doesn't help earnings in equities. The stock buybacks made EPS, earnings per share look much better that reality. The dire fact of the arrival of the global-mean-wage is always overshadowing everything. So, the stock market can continue to rise but, true earnings can not. This had brought a deflation of confidence.


They've always added a few % points to their growth.

If this is what they POSTED, you can bet that reality is much worse. By lending Y trillions worldwide, they hoped to develop world markets.

https://www.cnbc.
Everybody is charging full speed ahead using unsecured credit.


I don't think that "binge" is the right word.

A good article on the "race to the bottom"

https://dailyreckoning.com/trump-declares-war/

Keep in mind that a currency war is a method to export unemployment. BUT, it reduces purchasing power for the man in the street. There is less consumption and, things slow down anyway.


Nuke and Carbon are $hitting bricks as they get squeezed out.
HMS Queen Elizabeth: Water leak on aircraft carrier 'neck-high' - BBC ...

https://www.bbc

https://babylonbee.com/news/the-bee-explains-democratic-socialism

https://babylonbee.com/news/extremists-on-left-right-eliminate-each-other-in-violent-clash-nations-problems-finally-over

The markets HAVE rolled over and turned down. This site has some good graphs to give you a feel for just where we are.

https://northmantrader.com/2019/07/15/do-not-mix/

https://www.hussmanfunds.com/comment/observations/obs190714/

It's a pretty good article but< I don't believe that John is taking foreign capital inflows. As the mood changes from "chasing interest" to "protecting capital" the investment fundamentals change.

[Danny B]

D Bank,,,January 2020 turning point,, C.H. Smith

The market capitalization of Deutsche bank is currently $16 billion. Here is a graph of their stock price.

https://www.macrotrends.net/stocks/charts/DB/deutsche-bank-aktiengesellschaft/market-cap

"Apr 17, 2019 - A derivatives book of $49 trillion notional puts Deutsche Bank"

Those derivatives are with other banks all over the world.
No kidding ?


Ride that tiger 1
Your day will come eventually.


Alphabet had to be abysmally stupid to attack the entity that has final control over the airwaves.
https://www.zerohedge.com/news/2019-...igated-treason

https://www.armstrongeconomics.com/world-news/corruption/false-flags-not-the-fringe-conspiracy-but-reality/

oftwominds-Charles Hugh Smith: Epstein and the Explosive Crisis of the Deep State

https://www.dollarcollapse.com/junk-bonds-negative-yields/

Global Debt Hits $246 Trillion, 320% Of GDP As Developing Debt Hits All Time HIgh
Much of that "developiong debt" is owed to China by countries that can't pay.

[Danny B]

Important notes from Armstrong

I'm sure that all of you know that "socrates" is the name of the program that Armstrong and his undergrads built decades ago. I won't go into the details of it's history and, capabilities. Armstrong seems to schedule his world economic conferences

https://www.armstrongeconomics.com/armstrong-economics-upcoming-events/world-economic-conference/wec-2019-orlando-knockin-on-havens-door-or-the-big-fake-out/

Ongoing updates seems to imply the economy will be whipsawed violently.

https://www.armstrongeconomics.com/international-news/politics/gang-of-four-trying-to-start-race-wars/

Armstrong asks a rhetorical question. The answer is YES

Armstrong on GOV pension debt.

https://www.armstrongeconomics.com/world-news/pension-crisis/the-black-hole-of-debt/

"Our confidential sources are reporting that the Fed, ECB, and BoJ have agreed to lobby politicians in an attempt to warn them that they cannot continue propping up the world economy. The ECB, in particular, has been keeping the EU on life support and they have no room to lower interest rates to try to support their economies any longer. They are beginning to argue that they need help from governments in the rescue effort, which our computer model warns will fail."
"The slowing global economic growth has pushed the Federal Reserve, European Central Bank, and perhaps even the Bank of Japan to look at more Quantitative Easing. However, the Fed, especially, wants no part of buying government debt."
WAIT, what about the re-election?
"The cries behind the curtain are that monetary policy alone in the coming months cannot support the economy. There is just less room to act with regard to interest rates than in the past. This has been the pitch in Brussels as the ECB is warning politicians they will need to assist if a downturn takes hold."

https://www.armstrongeconomics.com/world-news/central-banks/central-bankers-on-the-knees-pleading-with-politicians/

How does a politician "assist"?
Austerity in Britain has reduced the London police force by 20,000.

https://www.rt.com/op-ed/464301-poverty-crime-gangs-london/

Will politicians implement more austerity?

[Danny B]

https://kunstler.com/cluster****-nation/what-looms-behind/

Kunstler equates the end of peak-cheap-oil in America to the end of peak-cheap-oil. The world has lots of cheap oil. We will just have to pay more for it. Price inflation will follow a rise in the price of energy, the master resource. We can just BUY the damn oil from Venezuela instead of trying to use the CIA and military to try to install U.S. oil companies in control of the country. Screw Cheney and his cronies.

Israel has long worked to try to gain control of the world. They over-reached and, blew up their bond market in the early '80s. I was there when they knocked 3 zeros off the Shekel. This didn't stop them. They bought all the American politicians that they could reach. Wolfowitz personified the jewish neocon mentality. Full control of the world by any means. Well, now, the U.S. bond market has been blow up. I was told by israelis that israel is a communist country. Dunno. Communism always goes broke. America has supported israel to the tune of hundreds of $billions. Now, we are broke .

Repost, oftwominds-Charles Hugh Smith: Epstein and the Explosive Crisis of the Deep State
There is a growing appreciation that the neocon faction of the deep state has brought us to ruin. MUCH of the battle against the deep state is between fractions within. Trump made a big mistake in NOT cleaning out ALL the Obummer appointees. He had no idea of just how entrenched the israeli / communistic faction was in the intelligence agencies. The NSA, being more of a military arm was not near so corrupted.

It remains to be seen just how much of the corruption can be cleaned out by following up on the Epstein / MOSSAD honey trap web.

[Danny B]

Paradigm shifts by Ray Dalio

Ray Dalio is called the bond king. He runs the largest bond fund in the world. He recently had a program created to do bond trading with machine intelligence exclusively. The humans are there just to ensure that the computers receive accurate information. He has the experience AND the liberty of free time to investigate the past as far as economic cycles go.
Like Armstrong, he sees that this economic history runs in cycles. The economy morphs from one paradigm to a new paradigm. Here is a very good article that you should read.

https://www.linkedin.com/pulse/paradigm-shifts-ray-dalio/

[Danny B]

The bumps in the road are getting bigger

Ray Dalio is calling for a paradigm shift. They happen quite frequently so, it is easy to believe that he is correct. The American PTB want to keep things going exactly as they are. Every time that the paradigm threatens to shift, the FED throws money at the markets to try to preserve the status quo. This holds things together temporarily but, creates enormous distortions.
Turkey is a member of NATO but, just bought highly advanced Russian weapons in case they are attacked. There are numerous distortions in every corner of the world.
Armstrong is calling for a total crash of sovereign debt and, a rotation into private debt. He is calling for the DOW to hit 35,000 by 2021.

https://www.peakprosperity.com/martin-armstrong-dow-35000-by-2021/

The confidence and mentality have shifted to where investors are little concerned with earning interest on their capital. They are mostly worried about retaining the purchasing value of their capital.
As various sovereign governments try increasingly stupid moves to corral capital inside their borders, investors find increasingly innovative ways to get it OUT of the borders.
Remember that the stock indices are quoted on the performance of a small basket of stocks. The indices could easily hit historical highs and, the broader market could be in the dumps.
Stocks to buy: Just 10 stocks are holding the fort; rest have lost
https://m.economictimes

Crypto currencies are working very well for draining capital OUT of regimes that are too controlling or too socialist.
Much of the unipolar world was enforced by CENTCOM and the FED. This is slipping away.
Venezuela may switch from SWIFT to Russian payment system to skirt US sanctions
Venezuela Sells $40 million in Gold Reserves Despite US Efforts to Prevent It
Mossad-linked group seeks seizure of Iranian oil tanker OH ! What a surprise. We need more wars.
IDF Practices Invading Gaza Just Days After Hamas Drills for Israeli Invasion Go ahead,,, do it!
The junk bond bubble, https://moneymaven.io/mishtalk/econo...EaueKaY2sMLBQ/

Keynes wanted "euthanasia of the rentier". With MMT, the State could create all the liquidity needed in the economy, interest free. I just don't see that happening. It would allow unlimited war finance.

"Proponents of the gold standard argue it provides long-term economic stability and growth, prevents inflation, and would reduce the size of government. They say a gold standard would restrict the ability of government to print money at will, run up large deficits, and increase the national debt. They say the economy has historically performed best under a gold standard. "

It is strictly up to the markets. GOV can legislate against capital flight but, it doesn't make any difference. Armstrong said that; if the dollar continues to rise, it will choke all other currencies.



Ah yes, unlimited socialism for unlimited garbage immigrants gets expensive.
World government requires absolute control. The societies with the most racial continuity are the most stable societies. Look at the French / yellow vests. They have racial solidarity. The PTB who champion a new world order do NOT want any kind of solidarity. Flood the place with the worst kine of immigrants and, Voila ! , you destroy any kind of solidarity and resistance to control.

Qatar has sent arms right up to air-to-air missiles to dissidents in Europe to really get a revolution going.

https://www.armstrongeconomics.com/world-news/civil-unrest/italy-seizes-missile-from-far-right-activists/

Armstrong, "When I look at lending into the agricultural sector, the big Wall Street banks are once again perfectly in line with the cycle. They peaked in loans to farmers back in 2015, and have been declining ever since going into 2020. Bank lending to the agricultural sector peaked with the ECM and we will see it bottom in 2020. Our model will be correct in forecasting the next wave, which will be a cost-push inflationary wave. "
GREAT, food price inflation.

https://www.zerohedge.com/news/2019-07-15/food-shortage-warnings-begin-tropical-storm-barry-rips-through-americas-heartland

[Danny B]

Even DB knows that gold is important.

[Danny B]

What's next for public debt?

Armstrong claims that a historical view shows that capital moves alternately from private debt to public debt. He said that the rotation out of public debt (sovereign bonds) would lead to an abandonment of all public debt. The 200 PHDs working for the FED, not to mention the huger numbers of FED-sponsored chairs at various universities may have come to the same conclusion. EVERYONE reads Armstrong.

The various Central Banks have been buying up private equity for years. The BOJ owns 1/2 of all exchange traded funds . The BOJ is also buying up Japanese government debt by the trillions. Presumably, the CBs expect the State to default on public debt.
The ECB is buying up public debt just as fast as the EU members can issue it. If Draghi doesn't buy it up, nobody will. Armstrong claims that the ECB has destroyed the European sovereign bind market. In a ZIRP environment, the CBs can issue new bonds, receive the principle and, ignore the interest burden. First, of course, they had to create mega tons of liquidity so that somebody would have the cash to buy the bonds. It didn't work out that way and their bonds were shunned by the private debt markets.
Meanwhile, the FED is able to sell U.S. public debt through shells and proxies. While public debt in America sees more demand than public debt in the Eurozone, it is still far short of being fully subscribed by legitimate buyers.

This is a big confidence game that America is currently winning. Money renters seem to ignore bogus employment numbers. They mostly ignore crashing productivity numbers.
They look at the abysmal lies and numbers that come out of the shotgun marriage that is the European Union.
They look at the draconian control that the Chinese are laying down on a nation of gamblers.
They have decided that American private markets carry the best possibility of investor safety.

The State, being a non-producer, has always had to rely on taxes and theft to fund itself. The Central Bank was invented to fund wars and, manage the finances of the State. To smooth out finances, the State started selling bonds,,, usually war bonds. Later, the CBs sold all kinds of bonds. Still, the State had to ultimately rely on taxes to repay bonds. The State had to rely on private investors to buy it's bonds. Historically, the State has used currency inflation to alleviate the burden of repaying GOV bonds. This inflation has historically removed up to 50% of the burden of repayment. The State is always trying to inflate away the burden of debt repayment. Meanwhile, the banks are first in line when the new money is passed out. The bankers lose value on the bonds they hold because of State sponsored currency inflation. They gain value on their bonds because they are first in line for money.

When the State talks about printing free money directly to pay it's bills (some form of MMT or chartalism), the banks are squeezed out of the public bond market.
It is a safe assumption that public debt is going to crash. It ALWAYS does.
It is a safe assumption that the State is going to try to survive intact.

The whole Central Bank experiment / regime lasted for a few hundred years. It's gone crazy of late.

Japan has printed "money" by the boatload but, still retains a certain amount of investor confidence.
Will America print money by the boatload to get away from the restriction of having to depend on PRIVATE money to fund it's spending?
Armstrong claims that; in the future, private debt will have one interest rate AND, public debt will have another, higher interest rate. This is an impossibility.
One way or another, FED GOV is going to escape the monetary control of private money.

[Danny B]

Choke out the American war machine

Armstrong advocates that FED GOV just print money to cover it's bills. This would presumably include money for ongoing wars. Americans lost control of the war machine long ago. The '60s were the time of war protests. Several protestors died for their beliefs. The rest were called traitors. They were accused of naming the soldiers as murderers. In reality, it was the politicians who were the murderers.
After WW II, we could have had peace. The war profiteers would have none of it. After the collapse of the U.S.S.R. we could have had peace. Once again, the war profiteers blocked this possibility. An endless chain of false flags inspired / motivated an endless chain of wars.

Why?
"The Samson Option (Hebrew: ברירת שמשון) is the name that some military analysts and authors have given to Israel's deterrence strategy of massive retaliation with nuclear weapons",,, against any State that didn't do as it was told.
"Kenneth S. Brower has estimated as many as 400 nuclear weapons.[12] "
Lest you think that israel would never go to the actual detonation of a nuke, keep in mind that they exploded nukes in the reactor building at Fukushima Diachi. They were disguised as huge cameras that the israelis had previously installed. They were detonated exactly one year after the Japanese approved a resolution condemning israeli actions in Gaza.

https://www.wired.com/2012/01/jim-stone-fukushima/

The israelis have come out and said that their weapons would reach as far as Europe. It is impossible for Europe to invade israel so, they must be there for coercion.

The IAEA said that somebody set off a nuclear device in Yemen.

https://www.agreenroadjournal.com/2015/05/former-iaea-inspector-and-nuclear.html?view=mosaic

A neutron bomb was detonated at Baghdad Airport in 2003, page 1 ...
A neutron bomb was detonated at Baghdad Airport in 2003, page 1

US STRATEGY PLAN CALLS FOR INSURING NO RIVALS DEVELOP

https://www.nytimes.com/.../us-strategy-plan-calls-for-insuring-no-rivals-develop.html

Mar 8, 1992 - Mr. Wolfowitz often represents the Pentagon on the Deputies Committee, which formulates policy in an interagency process dominated by the ...

Putin Has Just Put An End to the Wolfowitz Doctrine | Zero Hedge ...
https://www.zerohedge.com/news/2015-...fowitz-doctrin

http://cluborlov.blogspot.com/2019/07/war-profiteers-and-demise-of-us.html

As a for-profit industry, American armament industries were motivated to sell as many weapons as possible. This created a situation where it made perfect corporate sense to start as many wars as possible.

https://www.rt.com/usa/464613-pompeo-venezuela-must-leave/

America fracking oil is weak and watery. It is exported because there is very little demand. American fracking has lost $280 billion. The oil majors are salivating at the thought of controlling . stealing Venezuelan oil. They are also salivating at the idea of Stealing Iranian oil but Iran is just too well armed. The Golan Heights have as much oil as Saudi Arabia but, Assad and Putin have made it off-limits. (Armstrong).

Bolton can blow smoke until his moustache catches fire . Russia and China and Iran need to choke-out the American war machine. I wish them success. I don't want to live in a country that counts 300 million murders as a roaring success story. Where the deaths of 500,000 Iraqi children was deemed "worth it" Where depleted uranium is spread far and wide. Where the radioactive death of the Pacific ocean is just collateral damage. Where the U.S. military is used to protect the cultivation of Heroin and cocaine.

Where Ron Paul is celebrated as an honest politician,,,, implying that an honest politician is an aberration.
Where our whole national angst is destroyed by all the killing.

https://www.zerohedge.com/news/2017-07-31/killing-them-killing-us

I expect petroleum shortage to develop after the January 2020 crash.

[Danny B]

Just more problems

While the bankers are gnashing their teeth trying to grow the credit bubble at the same time that Population, wages and consumption are all shrinking, There are other forces trying to shrink the population to avoid trashing the planet any further.
Charles Hugh Smith, oftwominds-Charles Hugh Smith: The Planetary Insanity of Eternal Economic Growth

Here is an article with Martin Armstrong playing stupid.
QUESTION: Do you think the neo-cons who pushed the Iraq War and are pushing to annihilate Iran now, are covertly in league with Israel?"
"Yes, people speculate that the Israel government is covertly behind the neo-cons, whereas many Israeli people just want peace. I have not seen any direct evidence of that. I do know some of these neo-cons and have had face to face discussions with them over the years. I believe they are seriously wrong and have placed the world into a state of high risk. Their policies have polarized the relationships between the USA and Russia, which is not in the interest of world peace. I have stated many times, my view is simply that war no longer remains valid from a historical perspective. It used to be about conquest and empire-building. Today, nobody wants to occupy their opponent. I see no purpose to war economically"
https://www.armstrongeconomics.com/i...e-with-israel/ Not ONE mention of wars for ideology, resources and oil. The Golan also has LOTS of water, besides the oil.
Not ONE mention of Sunni - Shia wars for religion and ideology.
The NSA Gave Israel Access to All US Citizens Communications Data, Leaked Docs Reveal

https://www.vox.com/policy-and-politics/2019/7/19/20699366/interest-rates-unemployment-globalization-minimum-wage-deficit

The FED is just about out of bullets when it comes to fighting the looming recession.
The Fed's Final Bullet Hits 'Em in the Foot - The Great Recession Blog
October 1929 is a preview of what is happening now.

https://www.zerohedge.com/news/2019-07-19/stalling-markets-last-time-happened-was-october-1929

Armstrong predicts extreme volatility. some think that they can take advantage of this volatility.

https://www.thetechnicaltraders.com/us-global-markets-setting-up-for-a-volatility-explosion-are-you-ready/

https://tomluongo.me/2019/07/19/the-new-eu-is-even-more-insane-than-the-old-eu/

Yep, flogging a dead horse.
The MIC wants more money, https://www.zerohedge.com/news/2019-...our-government
Trump is still working to piss off as many powerful people as possible.

https://www.mercurynews.com/2017/10/21/trump-plans-to-release-of-jfk-assassination-documents-despite-concerns-from-agencies-2/

Peak Prosperity, https://www.peakprosperity.com/weve-...d-of-the-road/

The Epstein case could be a wild card for the economy.

https://www.zerohedge.com/news/2019-07-17/martin-armstrong-warns-epstein-case-could-shake-global-confidence

Google exposes itself as pro-pedo & pro-child abuse by opposing sex trafficking laws To protect children
So, big surprise,,, Tel Aviv is the world center for human trafficking. israel is a major center of organs for sale.

How Bolton lured Britain into a dangerous trap to punish Iran
NATO Urges Iran to Release UK-Flagged Ships Seized by IRGC
British Warship Tried to Stop Iran From Seizing UK-Flagged Tanker in Hormuz Strait - IRGC
The Royal Navy: From Piracy to Impotence

A Bank With 49 Trillion Dollars In ExposureTo Derivatives Is Melting Down Right In Front Of Our Eyes
Yeak, Deutsche bank is going to take down a LOT of other banks when it defaults on it's derivatives.That January 2020 crash date is probably when the banks close.
Israel's Three Largest Banks Pay Hundreds Of Millions In Fines For Helping US Citizens Evade Taxes

Recession, http://thegreatrecession.info/blog/d...-of-recession/

Spoken by the original Mr. printing press.

Could there be a connection?

[Danny B]

Wall Street on parade

A Citizen's guide to Wall streetJeffrey Epstein Chaired a $6.7 Billion Company that Documents Suggest May Have Received a Secret Federal Reserve Bailout

[Danny B]

J.P.M. ,,,, hunt for taxes,,, debt limit

JPMorgan Chase Owns $2.2 Trillion in Stock Derivatives; Two-Thirds the Total for All Banks
Understanding Deutsche Bank's $47 Trillion Derivatives Book - WSJ
With Three Felony Counts Already, Did JPMorgan Chase Really Need to Own a Ship Containing 20 Tons of Cocaine?
How Bad Are Things on Wall Street? JPMorgan and Goldman Sachs Offer No Minimum Accounts
J.P. Morgan undoubtedly holds lots of derivatives with Deutsche bank. Deutsche bank is crashing and, J.P. M. is trying to raise cash by selling drugs.

"Debt limit: The most urgent issue facing Congress right now is the debt limit. Breaching the debt limit and running out of cash is much worse than a government shutdown. The latter closes a limited range of activities; the former means immediately balancing the budget on a daily basis and a high risk of defaulting on a debt payment. Last week, Treasury Secretary Mnuchin sent a letter to House Leader Pelosi that the Treasury could run out of extraordinary measures by early-September, meaning that there is less than two months until the "x-date".
"With Congress scheduled to be on break until 9th September, consensus expects Congress to raise the debt limit before going on break. There is bipartisan support to tie the debt limit to a new budget deal but if talks stall, a short-term increase could be in the works. Ultimately, the final agreement will likely lift the debt ceiling beyond the 2020 presidential election.
Budget deal: The previous two-year budget deal is set to expire at the end of September and a new deal will be needed to avoid across-the-board spending cuts."

https://www.zerohedge.com/news/2019-07-21/bank-america-enjoy-it-while-it-lasts

The Central Banbks have been very clear. They want GOV to cut back on spending so that they don't have to do so much printing. This is the ongoing and, unfolding fight over fiscal policy vs monetary policy.
Wiki; "Monetary policy is primarily concerned with the management of interest rates and the total supply of money in circulation and is generally carried out by central banks, such as the U.S. Federal Reserve. Fiscal policy is a collective term for the taxing and spending actions of governments."


Crypto coins have the ability to work around State capital controls. You can expect them to be severely curtailed.



Armstrong, "Why is no one in the D.C. political class and media bubble really talking about the Jeffrey Epstein affair? "
"Nevertheless, the Left-Wing Media Machine has been pretending that anyone who asks questions about the Epstein-Clinton connection is a paid political operative of the Right-Wing Media Machine. The Right-Wing Media Machine, which would normally be jumping for joy about this or any sordid affair involving the Clintons, has remained very reserved in hyping the case. The silence from both sides has been deafening. This raises the question of why are both sides trying to avoid this topic? Is there just a fear that this could expose a lot of political leaders? How did our political and media elites ever become so hopelessly corrupt?" Horny

https://www.armstrongeconomics.com/international-news/rule-of-law/the-jeffrey-epstein-affair-the-deafening-silence-from-washington/

The French GAFA tax is an acronym for Google, Apple, Facebook and Amazon which the French government has just passed. They are imposing a 3% tax on all business in France. The US has promised retaliation. This is part of the entire problem the world faces with trade. A lot of people talk about trade wars, but they live in the past. There is something far more serious at stake and that is the digital world and how governments are hungry for taxes to the point that they are threatening the viability of the world economy going forward for they are seeking to tax the digital world and every country has a different scheme in mind. This will only lead to an economic decline on a global scale"

The hunt for taxes is everywhere.

https://www.usatoday.com/in-depth/news/politics/2019/07/19/florida-city-hits-homeowners-massive-penalties-supreme-court-excessive-fines/1691703001/

https://www.armstrongeconomics.com/armstrongeconomics101/economics/california-economic-declining-significantly/

So, we can expect California to crash in tandem with Europe.