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Fantasy employment,,, fantasy bonds
"It is the same with money. The prevailing paradigm—the dollar-centric view—is akin to the Medieval geocentric view. This view is characterized by two premises. One, the dollar is money. And two, the value of money is not defined in terms of gold (which is believed to be just a commodity like oil or wheat). The value of money is defined as the inverse of the general price level. This means: what you can buy is intrinsic to the currency."
"They accept that what you can buy is a property of the currency itself, missing that in Venezuela you can’t buy anything anymore, because of the socialist dictatorship.
Everyone knows that the dollar loses value. The Federal Reserve’s target is to make the dollar lose 2 percent per annum. The dollar goes down, and this is not a bug but a feature."
"Being money, the dollar is therefore the unit of account. However, this contradicts the fact that the dollar goes down. A unit has to be stable, to be useful to measure anything. So how do people reconcile this contradiction? The dollar is the unit of account, but the dollar is constantly shrinking—i.e. it fails as a unit."
"And they use this consumer price index to define the value of money. They claim to measure the purchasing power of money. Remember that prices are measured in money. So measuring money in terms of prices is circular reasoning."
"Grant Williams said that gold is the only commodity that does not go no bid. In times of crisis, ordinary things go no bid. "
https://www.zerohedge.com/news/2018-...-5-august-2018
Armstrong, "The U.S. dollar has been climbing against major currencies for several months, with the dollar index .DXY up is trading up about 2.84% for the year. It is true that the dollar has strengthened since late 2015 as the Federal Reserve began raising interest rates against a background of steady economic growth, slowly rising inflation and the lowest U.S. unemployment rate since the 1960s."
I do not understand how he can factor in this "low unemployment"
Side note, "Since the neoliberal 90s, America has been steadily thirdworldized. Over 21% of workers wanting jobs can’t find them.
Millions of industrial and other high-pay jobs were offshored to low-wage countries. Ones remaining are mostly rotten temp or part-time, low pay/poor or no benefit service ones with no futures – paying poverty or sub-poverty wages.
The Friday-reported 3.9% unemployment rate reflects pure fantasy."
"Protracted main street depression conditions persist for most working-age Americans – reflected by real unemployment at 21.5%, along with most available jobs paying poverty or sub-poverty wages"
https://stephenlendman.org/2018/08/f...ty-in-america/
Continuing with Armstrong. Does his embrace of BS employment statistics invalidate his conclusions?
"We have the ECM, which has destroyed the European bond market, frozen like a deal in headlights. It is trapped and it realizes that it has been buying the debt of member states who are now addicted to excessively low-interest rates. If the ECB actually stops buying, we are looking at a major debt crisis in Europe as interest rates explode exponentially. "
"In Japan, there to they have wiped out the bond market. The government actually bragged that they bought 97% of the government debt auction. Hellow? That’s a good thing? "
"Trump has publicly been criticizing the dollar’s strength several times. He obviously thinks a lower dollar is better for trade. But the markets are going against Trump. You cannot “Make America Great Again” without also strengthening the dollar "
"So hang on to your hat. The strength behind the dollar CANNOT be analyzed simply by looking at the domestic situation. We are in a position of capital flight on a global scale. All these arguments add up to nothing when capital begins to flee from one economic crisis to another. Remember Herbert Hoover’s words from 1931. When we begin to see the first crack in Sovereign Debt, both in Emerging Markets and inside the EU, it will be Kattie-bar-the-door!"
https://www.armstrongeconomics.com/m...llar-strength/
Armstrong, "I have stated bluntly that the forecasts made at Davos and the Bilderberg Meetings are ALWAYS wrong! Even the BBC asked why do economists get it so wrong? These meetings are often used as proof of some world order that creates everything intentionally be it a boom or a bust. I have stated countless times that if there really was some giant conspiracy that controlled the world, they would NEVER call me in for help or even explanations. The far more scary reality is the powers that be are clueless and are ruling by the seat of their pants."
"It just seems as if those in power are often the people who have little experience in the real world and could not make it there so they gravitate toward government and power. "
"I have worked around the world. Politicians are the same everywhere. They will act ONLY out of their own self-interest."
https://www.armstrongeconomics.com/w...r-hate-speech/
"John Williams at Shadowstats.com reckons that the real unemployment rate in the US is 21.4%. Unimpressed by the US State’s insane assumption that all those no longer able to claim unemployment welfare “have found a job”, Mr Williams provides further fuel for my longstanding thesis that no real recovery can occur – if more and more mass-market consumers work fewer and fewer hours for less and less money or have no job at all – because their personal disposable income is disappearing out of sight."
"eorge Osborne immediately gave notice that he’d be switching from the higher RPI measure of inflation (then at 5.2%) to the lower CPI at 4.5%. That doesn’t sound like much, but one has to remember two things: first, that is a 14% difference in levels that makes inflation look much lower; and second, over time the different impression given is huge: from 1996 to 2011, under the RPI system prices rose 53.6%….but using the CPI method, it only came to 35.6%.
Significantly, the CPI system excludes financial services costs and government charges to the consumer. Just fancy that."
"But “a job” to most people over the last half century meant 38-40 hours a week with a month’s notice. When analysed, these new jobs were averaging 20 hours a week, often at unsocial hours and frequently on no contracts at all. They typically demand, for example, that the “employee” be ready to come into the workplace without notice"
https://hat4uk.wordpress.com/2018/08...-dictatorship/
8/07 Fears of a ‘car-crash Brexit’ make life difficult for Mark Carney – Guardian
"Before Keynes there were macro considerations, which were firmly grounded in human action, the personal preferences and choices exercised by individuals in the context of their own earnings and profits. In order to give a role to the state, Keynes had to get away from human action and devise a positive management role for central planners. "
A centrally managed and planed economy is of great appeal to government wonks because it guarantees them a job niche regardless of abilities. It is also appealing to war-mongers and bankers and the corporatocracy. They buy politicians and get whatever wars and monopolies they want. GOV sells bonds to pay for all the hanger-ons.
51% of Americans receive a check from GOV.
History shows that taxes are raised to pay for all of this until, there is a revolution or State bankruptcy. The numbers suggest that the revolutions will start in Southern Europe. The Blob State is bankrupting the rest of the workers.
"It is the same with money. The prevailing paradigm—the dollar-centric view—is akin to the Medieval geocentric view. This view is characterized by two premises. One, the dollar is money. And two, the value of money is not defined in terms of gold (which is believed to be just a commodity like oil or wheat). The value of money is defined as the inverse of the general price level. This means: what you can buy is intrinsic to the currency."
"They accept that what you can buy is a property of the currency itself, missing that in Venezuela you can’t buy anything anymore, because of the socialist dictatorship.
Everyone knows that the dollar loses value. The Federal Reserve’s target is to make the dollar lose 2 percent per annum. The dollar goes down, and this is not a bug but a feature."
"Being money, the dollar is therefore the unit of account. However, this contradicts the fact that the dollar goes down. A unit has to be stable, to be useful to measure anything. So how do people reconcile this contradiction? The dollar is the unit of account, but the dollar is constantly shrinking—i.e. it fails as a unit."
"And they use this consumer price index to define the value of money. They claim to measure the purchasing power of money. Remember that prices are measured in money. So measuring money in terms of prices is circular reasoning."
"Grant Williams said that gold is the only commodity that does not go no bid. In times of crisis, ordinary things go no bid. "
https://www.zerohedge.com/news/2018-...-5-august-2018
Armstrong, "The U.S. dollar has been climbing against major currencies for several months, with the dollar index .DXY up is trading up about 2.84% for the year. It is true that the dollar has strengthened since late 2015 as the Federal Reserve began raising interest rates against a background of steady economic growth, slowly rising inflation and the lowest U.S. unemployment rate since the 1960s."
I do not understand how he can factor in this "low unemployment"
Side note, "Since the neoliberal 90s, America has been steadily thirdworldized. Over 21% of workers wanting jobs can’t find them.
Millions of industrial and other high-pay jobs were offshored to low-wage countries. Ones remaining are mostly rotten temp or part-time, low pay/poor or no benefit service ones with no futures – paying poverty or sub-poverty wages.
The Friday-reported 3.9% unemployment rate reflects pure fantasy."
"Protracted main street depression conditions persist for most working-age Americans – reflected by real unemployment at 21.5%, along with most available jobs paying poverty or sub-poverty wages"
https://stephenlendman.org/2018/08/f...ty-in-america/
Continuing with Armstrong. Does his embrace of BS employment statistics invalidate his conclusions?
"We have the ECM, which has destroyed the European bond market, frozen like a deal in headlights. It is trapped and it realizes that it has been buying the debt of member states who are now addicted to excessively low-interest rates. If the ECB actually stops buying, we are looking at a major debt crisis in Europe as interest rates explode exponentially. "
"In Japan, there to they have wiped out the bond market. The government actually bragged that they bought 97% of the government debt auction. Hellow? That’s a good thing? "
"Trump has publicly been criticizing the dollar’s strength several times. He obviously thinks a lower dollar is better for trade. But the markets are going against Trump. You cannot “Make America Great Again” without also strengthening the dollar "
"So hang on to your hat. The strength behind the dollar CANNOT be analyzed simply by looking at the domestic situation. We are in a position of capital flight on a global scale. All these arguments add up to nothing when capital begins to flee from one economic crisis to another. Remember Herbert Hoover’s words from 1931. When we begin to see the first crack in Sovereign Debt, both in Emerging Markets and inside the EU, it will be Kattie-bar-the-door!"
https://www.armstrongeconomics.com/m...llar-strength/
Armstrong, "I have stated bluntly that the forecasts made at Davos and the Bilderberg Meetings are ALWAYS wrong! Even the BBC asked why do economists get it so wrong? These meetings are often used as proof of some world order that creates everything intentionally be it a boom or a bust. I have stated countless times that if there really was some giant conspiracy that controlled the world, they would NEVER call me in for help or even explanations. The far more scary reality is the powers that be are clueless and are ruling by the seat of their pants."
"It just seems as if those in power are often the people who have little experience in the real world and could not make it there so they gravitate toward government and power. "
"I have worked around the world. Politicians are the same everywhere. They will act ONLY out of their own self-interest."
https://www.armstrongeconomics.com/w...r-hate-speech/
"John Williams at Shadowstats.com reckons that the real unemployment rate in the US is 21.4%. Unimpressed by the US State’s insane assumption that all those no longer able to claim unemployment welfare “have found a job”, Mr Williams provides further fuel for my longstanding thesis that no real recovery can occur – if more and more mass-market consumers work fewer and fewer hours for less and less money or have no job at all – because their personal disposable income is disappearing out of sight."
"eorge Osborne immediately gave notice that he’d be switching from the higher RPI measure of inflation (then at 5.2%) to the lower CPI at 4.5%. That doesn’t sound like much, but one has to remember two things: first, that is a 14% difference in levels that makes inflation look much lower; and second, over time the different impression given is huge: from 1996 to 2011, under the RPI system prices rose 53.6%….but using the CPI method, it only came to 35.6%.
Significantly, the CPI system excludes financial services costs and government charges to the consumer. Just fancy that."
"But “a job” to most people over the last half century meant 38-40 hours a week with a month’s notice. When analysed, these new jobs were averaging 20 hours a week, often at unsocial hours and frequently on no contracts at all. They typically demand, for example, that the “employee” be ready to come into the workplace without notice"
https://hat4uk.wordpress.com/2018/08...-dictatorship/
8/07 Fears of a ‘car-crash Brexit’ make life difficult for Mark Carney – Guardian
"Before Keynes there were macro considerations, which were firmly grounded in human action, the personal preferences and choices exercised by individuals in the context of their own earnings and profits. In order to give a role to the state, Keynes had to get away from human action and devise a positive management role for central planners. "
A centrally managed and planed economy is of great appeal to government wonks because it guarantees them a job niche regardless of abilities. It is also appealing to war-mongers and bankers and the corporatocracy. They buy politicians and get whatever wars and monopolies they want. GOV sells bonds to pay for all the hanger-ons.
51% of Americans receive a check from GOV.
History shows that taxes are raised to pay for all of this until, there is a revolution or State bankruptcy. The numbers suggest that the revolutions will start in Southern Europe. The Blob State is bankrupting the rest of the workers.
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