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Old 11-02-2017, 02:07 AM
Danny B Danny B is online now
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Elastic money supply,,, sliding down

Armstrong excoriates Andrew Jackson for killing the central bank. Armstrong is a speculator. His major blindness is; he demands an elastic currency. Under a gold standard, the currency grows at the same rate as the gold supply. This allows for very little speculation. What he fails to recognise is; any elastic currency will eventually be overstretched by the State and bankers. The original charter of the FED was pretty good. Naturally, the bankers were not happy with this. In general, a State goes off the gold standard when it is preparing to go to war. They need to make war on their credit card. Unfortunately for the R.O.W. America had the huge Bretton Woods credit card.
The elastic currency ALWAYS brings a credit cycle. The state wants that to buy elections and wars. The bankers want that to suck in the punters and fleece them. We are coming to the end of a credit super-cycle. On a gold standard, this could never happen.
After the turn of the century, the bankers ramped up borrowing at the same time that wages were falling. They were bailed out. They have needed a continual bailout.

"taxpayers have written checks totaling $190 billion to Uncle Sam so far this month.

Yet despite being flush with tax revenue, the US government still managed to pile almost a quarter of a trillion dollars more on top of its already enormous mountain of debt."
"the US government spends nearly the ENTIRETY of its tax revenue on Social Security, Medicare, and Interest on the Debt."
The US Government Quietly Added $200 Billion To The National Debt This Month Alone | Zero Hedge

"The model is forecasting NOT a “recession” in the old terms, but an economic decline. This is why taxes keep rising, for they need money to try to retain power. This creates DEFLATION and not the HYPERINFLATION that so many falsely believe is the only way empires, nations, and city-states crumble into the dust of history."
"This is all part of the economic decline that began with 2015.75. Even the poverty rate in Europe, the great socialist economy, has risen to 16% and is still rising. "

"The economy has had three jobless recoveries following the last three recessions" It will only get worse. Most of this article is plain lies.
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Old 11-02-2017, 02:28 AM
Danny B Danny B is online now
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Surviving on a housing bubble

The upper loop meets the lower loop in the housing market. Residential RE is not bought like commercial RE. We buy the biggest house we think that we can afford. We don't think about return on investment. Residential RE is a prime candidate for price inflation because human nature takes over, NOT good business practices.

"Ultra low interest rates mark a shift away from people’s wealth residing in their savings and pension plans, and into to so-called wealth residing in their homes, which are bought with ever growing levels of debt."
"home sales, and bubbles, are the only thing that keeps our economies humming. "
"This is a global issue. Housing bubbles have been blown not only in the Anglosphere, though they are strong there, many other countries have them as well, Scandinavia, Netherlands, even Germany and France. It’s what ultra low rates do."
No mention of China that has the biggest bubble of all because Chinese put all their savings into RE.

"What we have invented to keep big banks afloat for a while longer is ultra low interest rates, NIRP, ZIRP etc. They create the illusion of not only growth, but also of wealth. They make people think a home they couldn’t have dreamt of buying not long ago now fits in their ‘budget’. That is how we get them to sign up for ever bigger mortgages. And those in turn keep our banks from falling over."

"Record low interest rates have become the only way that private banks can create new money, and stay alive"
"Without the ZIRP rates, the mortgages they lure people into, and the housing bubbles this creates, the amount of money circulating in our economies would shrink so much and so fast the whole shebang would fall to bits.

That’s right: the survival of our economies today depends one on one on the existence of housing bubbles. No bubble means no money creation means no functioning economy."
This is a hard-to-believe graph, https://3r8md7174doo44lgpk3kou79-wpe...rice-index.png
"Most new Zealanders can no longer afford property in major centers, and forcing prices down this way will expose many present owners to margin calls and foreclosures.

Moreover, because Australian banks own their New Zealand peers, if the Aussie boom is really gone, these banks are going to get hit so hard they’ll take down New Zealand with them. Close your eyes and put your fingers in your ears."

"Looks like the American housing bubble is back with a vengeance. It’s always amusing to see claims that this is due to a lack of supply. The real problem is not supply, but artificially fabricated demand. Fabricated by low rates. " HOT MONEY
Various cities, https://3r8md7174doo44lgpk3kou79-wpe...t-to-own-1.jpg
"Now remember what I said before: millions upon millions see their savings and pensions melt away before their eyes, while at the same time they are forced to spend ever more on housing costs. And when that scheme hits the wall, the economy will remember it’s alive only because of the housing bubble, and then croak."
"Leaving both renters and owners without jobs and eventually places to live. " There is always FEMA summer camp.
"you have an economy with either a lot of foreclosures and homelessness in its future, or a bankrupt banking system."

"Property in China is all on red. In the US about one quarter of household wealth is in housing, in China it’s three quarters. "
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Old 11-02-2017, 03:14 PM
Danny B Danny B is online now
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Too many changes at once

Only 13 percent of people worldwide actually like going to work - The ...
https://www.washingtonpost.com/.../o...de-actually-li... The data, which are based on nationally representative polling samples in 2011 and 2012 from more than 140 countries, show that 63 percent are "not engaged"
With the advent of cheap shipping, effectively, hundreds of millions were added to the global labor force. These hundreds of millions were added to the productive sector, but, only MARGINALLY added to the consumptive sector. At 30 bucks a month, they would eat better but, not much more. The Chinese government added to consumption by printing up mega-tons of new money.
Chinese growth is slowing way down and Chinese debt is growing faster than fast. States and Central banks worldwide are printing up money to maintain employment. BUT, the aggregate population of working age people is falling. The State is trying to extend this number by raising the retirement age. At the same time, automation is taking jobs. There is 70% youth unemployment in Spain.

As aggregate employment and aggregate wages diminish, discretionary spending decreases. To preserve profits and margin, industry utilizes more and more automation. As more automation enters the workplace, the surviving workers need to be more and more skilled to stay ahead of the machines.
"Most" people don't want to work anyway. All of the above has created a huge dislocation in the economy and consequently, in finance. Almost 100 million Americans of working age are not in the labor force. Their productivity has been transferred to low-wage workers. automation chips away at every job market. The State tries to make up the difference.
Essentially, all government is socialist. Given the opportunity, it will print so that nobody is poor. This always has the same end result.
The more automation we have, the more it prints. Public debt is growing faster than exponentially.
Realistically, if GOV just sent a check to everyone, nothing would get done. The CAFR1 site shows that GOV agencies have extracted hundreds of $billions and doesn't need to tax. Presumably, this is to keep all of us poor enough that we get up and go to work. This plan is failing because the robots have squeezed us out.
The PTB have focused on productivity because, historically, productivity was the most important factor. The robot has taken over productivity and now, the State stumbles around trying to re-focus on consumption. At the same time, lack of meaningful employment rots the soul and national fiber.

Our general economy can not re-adjust to these changes. The State is trying to maintain control of it's primary mechanisms. MONEY CREATION AND TAXING. The blockchain and BTC came out of left field and nobody knows where that will lead.
Here is a COMPREHENSIVE article examining many of the relationships between; the State, the economy and, the People.
Deutsche Asks A Stunning Question: "Is This The Beginning Of The End Of Fiat Money?" | Zero Hedge
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Old 11-03-2017, 03:38 AM
Danny B Danny B is online now
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Debt service,,tax cut,,BTC

The FED claims that 94.4 million are not in the labor force. https://fred.stlouisfed.org/series/LNS15000000
11/02 U.S. jobless claims near 44-1/2-year low; productivity accelerates – Reuters
11/02 Child poverty in Britain ‘set to soar to new record’ – Guardian
11/02 House prices up 70% but experts don’t think there’s a bubble – Bloomberg

In other news,
11/02 Bank of England hikes rates for the first time in a decade – CNBC
11/02 New Czech hike to set the pace for EUROPEAN rate rises – Bloomberg

Any Central bank that raises rates will attract capital AWAY from low-interest States. We'll see how that works out.

Armstrong, "The Knights Templar began a banking system because it became too dangerous to travel with money. These people would rob you giving rise to the term “highway robbery”. If you were in London and needed to send money to someone in Rome, you went to the Knights Templar and they would simply send a message and the local branch in Rome would make the payment for you and London took in your payment. This was how international payments began to surface after the Dark Age.

The French king seized the Papacy, moved it to Avignon in France, installed a French Pope who then declared the Knights Templars were devil worshipers and seized all their wealth on Friday the 13th. They were all burned at the stake alive and the king got to keep all the money. This became the Financial Crisis of the 13th-14th Century."

"In 2008 when the national debt stood at $10 trillion, the federal government paid $336 billion in interest. "
"In 2012 when the debt crossed the $16 trillion threshold, the interest payment was almost $456 billion."
"In 2016 with the national debt approaching the $20 trillion mark, the interest payment was $497 billion."
"It is difficult to overlook the fact that 2016’s interest payment was an all-time record at the second lowest rate on the 46-year chart.

* * * If the ten-year Treasury bill were to rise to 2.82% (the average since 2007), the implied interest payment would exceed $750 billion,"
Government Finances and Gold |
ZIRP is for the benefit of the State to service debt with less pain. It doesn't matter if huge sections of the economy wither away,,, as long as the State can afford to service it's debt.

Stockman, "Moreover, the idea that the GOP can pass a "middle class tax cut" is also way off base. That's because the middle class doesn't pay much income tax, and the 75 million households at the bottom half of the distribution pay virtually none at all."
"the built in CBO spending baseline for the next decade is $53 trillion, and even that assumes abnormally low interest rates (relative to inflation) as far as the eye can see.

Yet the budget resolution did not provide for a reconciliation order to the standing committees for one single dime of savings over the next decade. And without reconciliation there will never be any budget reductions because entitlements, mandatories and interest on the soaring public debt comprise 75% of that $53 trillion baseline. That is, if the standing committees are not ordered to make reforms they do nothing, thereby permitting the doomsday machine to just roll on automatically and indefinitely."
"Yet by then, the baseline level of red ink by CBO's lights will be $1.o2 trillion per year or nearly $1.2 trillion with the tax cut add-on permitted under this year's budget resolution."
"In short, the GOP is now in the midst of kicking the fiscal can right straight into a terminal crisis. Indeed, they have as much as admitted that in the implicit numbers in their phony FY 2018 budget resolution, "

"What lies around the corner is an immense fiscal catastrophe. That's the inexorable result of the current cacophony of can-kicking in the Imperial City."
"That is to say, after 100 months of so-called business expansion we still have negative real interest rates."
Contra Corner » The Can Kickers’ Cacophony

BTC news
11/02 Ron Paul to US government: “keep your noses out of bitcoin” – Cryptovest
11/02 Andrew Hoffman – bitcoin to infinity, still? – FSN
11/02 The bitcoin bubble – greater fool theory – Economist
Kaspersky Lab detects virus that steals bitcoin & other cryptocurrencies

I wonder if this virus can steal gold?
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Old 11-03-2017, 02:54 PM
Danny B Danny B is online now
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Scraping the bottom of a barrel of fumes,,, with a gun

Revealed: Secret plan to keep Iraq under US control | The Independent
The Independent | News | UK and Worldwide News | Newspaper › News › World › Middle East
Jun 4, 2008 - A secret deal being negotiated in Baghdad would perpetuate the American military occupation of Iraq indefinitely
Tillerson Says US Occupation Of Iraq IS PERMANENT
"In 2016, the United States exported about 5.2 MMb/d of petroleum to 101 countries. Most of the exports were petroleum products. The resulting net imports (imports minus exports) of petroleum were about 4.9 MMb/d."

So, Iran is next to Iraq and a very strong state. US Is #1 Enemy, Iran Will Never Yield To It - Supreme Leader
Pox Americana has pretty much lost control of Syrian oil. Iraqi oil is ever-more important.

What about minerals?
Rare Earth: Afghanistan Sits on $1 Trillion in Minerals - NBC News
Trump's Afghanistan strategy may unlock 3 trillion in natural resources

Pentagon says that U.S. military to be in Afghanistan for 50 years.
Here is an excellent article about America running out of both minerals and oil.
"Rio Tinto has reported an inferred resource of 1.624 billion tonnes containing 1.47 percent copper and 0.037 percent molybdenum at depths exceeding 1,300 metres (0.81 mi)."
"Well, with a little conversion of MJ into barrels of oil, we discover that just a little over 5 million barrels of oil would be involved just in lifting the ore to the surface."
America runs a trade deficit of about $ 1.5 billion EVERY day. A default cascade would pretty much bring that to an end. We trade dollars, in the form of treasury bonds for resource imports. We get the resources at the point of a gun. Nobody actually wants our Treasury bonds so, the FED buys them. If interest rates returned to just 3.7%, it would cost $1 trillion a year for debt service. The only way that we can service the debt is for the FED to print up the money to pay interest.
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Old 11-03-2017, 04:11 PM
aljhoa aljhoa is offline
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Originally Posted by Danny B View Post
"The Knights Templar began a banking system because it became too dangerous to travel with money. These people would rob you giving rise to the term “highway robbery”. If you were in London and needed to send money to someone in Rome, you went to the Knights Templar and they would simply send a message and the local branch in Rome would make the payment for you and London took in your payment. This was how international payments began to surface after the Dark Age.
Useful Idiots

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Old 11-04-2017, 03:15 AM
Danny B Danny B is online now
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Venezuela, Sr. Price,,, coin news

The oil majors want to pillage Venezuela. Venezuela is being locked out of the credit markets. Venezuela has just declared that they are going to restructure their debt. They need to sit down with their creditors and come to an agreement. BUT, the sanctions block their creditors from negotiating. This will probably bring on a default. BUT, there are lots of derivatives written against a default.
"Tomorrow Will Be Ugly": Venezuela To Restructure All Debt As Creditors Panic Over Imminent Default | Zero Hedge

A major "coin" is imploding, Another One Of The World's Largest ICOs Is Collapsing | Zero Hedge
China hopes to make a big splash with their One belt--One Road program.
"It connects 65 countries and 4.4 billion people.
In 2016 Chinese companies signed 8,158 contracts in 61 countries worth $150b.
In 2016 China’s trade with the One Belt…One Road countries reached $953b"
The Real ?New World Order? Is Coming To Life | Zero Hedge
They are making BIG bets on overland rail transport, as opposed to ship transport.

Sr. Price has a great article. Computer is acting up so, I won't excerpt it.

Crypto news;
11/03 One bitcoin transaction uses as much energy as your house in a week – Motherboard
11/03 Bitcoin ‘very definition’ of a bubble, Credit Suisse says – Bloomberg
11/03 War on bitcoin? – Economic Times
11/03 Bitcoin is a commodity, not a currency – CNBC
11/03 Japan: a forward thinking bitcoin nation – Forbes
11/03 A silence for altcoins as bitcoin highs slice value across markets – Coin Telegraph
11/03 Big bitcoin exchange just added 100,000 users in a day – GATA

State assistance, http://realinvestmentadvice.com/wp-c...DPI-080717.png
"Importantly, for the average person, these social benefits are critical to their survival as they make up more than 22% of real disposable personal incomes. With 1/5 of incomes dependent on government transfers, it is not surprising that the economy continues to struggle as recycled tax dollars used for consumption purposes have virtually no impact on the overall economy.”
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Old 11-04-2017, 05:08 PM
Danny B Danny B is online now
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No answer for displacement by automation

Man graduated from a hunter-gatherer existence to an agrarian / farming existence. He then graduated from an agrarian existence to a mechanized society. IF man has no niche in the mechanized society, he must revert to an agrarian system for survival. There are 95 million Americans who are not in the labor force. Savings, family and GOV transfer payments are keeping them alive. Most families have little or no savings. GOV debt is growing faster than exponentially.
Total global debt tops 325 pct of GDP as government debt jumps: IIF

Jan 4, 2017 - Global debt levels rose to more than 325 percent of the world's gross domestic product last year as government debt rose sharply,

Global Debt Hits A New Record High Of $217 Trillion; 327% Of GDP ...
403 Forbidden [/B]
State debt can't continue to grow at this rate. 100 million people can not revert to an agrarian system. (U.S. only)

This State debt is purportedly going to be paid back by the next generation. This just isn't going to happen. Birth rates are crashing.

The warm bodies just are not going to be born.

What about automation? The robots get better every day. Is every displaced worker going to go start a farm?
Feces-for-brains people propose a robot tax. “Right now, the human worker who does, say, $50,000 worth of work in a factory, that income is taxed and you get income tax, social security tax, all those things. If a robot comes in to do the same thing, you’d think that we’d tax the robot at a similar level.”
It is ALL about compensating for lost tax revenues. Those who propose this are UTTER MORONS. What about the lost income stream to the economy? What about the lost consumption? What about the damage to the human spirit from being on the dole for their whole life?

Should Robots Pay Taxes? No - Capitalism Should Change - Forbes
I can't access the article. I think I used up my quota of free articles. Unemployed people don't consume. Robots don't consume. How is capitalism supposed .to adjust to a populace that doesn't consume?

A tax on robots might provide revenues to finance retraining schemes for displaced workers. Seriously, people. Retrain for what?
"In his book Rewarding Work, Edmund S Phelps emphasised the fundamental importance of maintaining a “place in society – a calling”. When many people are no longer able to find work to support a family, troubling consequences ensue, and, as Phelps stresses, “the functioning of the entire community may be impaired”.

State debt worldwide is growing astronomically. This is done, in the main, to finance consumption for people who have lost their job OR, it is done to maintain employment even though that particular niche is no longer profitable. Japan has the fastest falling birth rate and , Japan has the fastest climbing debt. As robots take more and more jobs, more and more people see that they can not afford to have children. As the labor force shrinks, consumption and profits shrink. More robots are employed to compensate for lower profit margins.

The U.S. uses debt-money and it carries an interest burden. 10,000 people retire every day and add to the debt burden. 95 million NOT in the labor force reduces both production and consumption. The State could pump debt-free money into the lower loop. Currently, it pumps debt money into the upper loop.
U.S. GOV took in $ 180 B in October and borrowed $220B on top.
Eventually, the world is going to discover that it can't support rising debt with a falling population. Eventually, the State will have to support the millions of retirees OR let them die.
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Old 11-05-2017, 07:08 PM
Danny B Danny B is online now
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Competing models in banking

The formula in America is for the private banks to do almost all of the credit creation. They rake in $trillions in fees and interest. The bank of North Dakota is an exception.
"Public banking is banking operated in the public interest, through institutions owned by the people through their representative governments."
"Public banking is distinguished from private banking in that its mandate begins with the public's interest. Privately-owned banks, by contrast, have shareholders who generally seek short-term profits as their highest priority. Public banks are able to reduce taxes within their jurisdictions, because their profits are returned to the general fund of the public entity. The costs of public projects undertaken by governmental bodies are also greatly reduced, because public banks do not need to charge interest to themselves. Eliminating interest has been shown to reduce the cost of such projects, on average, by 50%."
"As of the spring of 2010, North Dakota was also the only state sporting a major budget surplus; it had the lowest unemployment and default rates in the country; and it had the most community banks per capita, suggesting that the presence of a state-owned bank has not only not hurt but has helped the local banks."
Introduction to Public Banking - Public Banking Institute
You get the idea. The HUGE interest drain is just returned to the people.
Everybody goes on and on about the enormous credit bubble in China.
"In the early 1980s, the government started opening up the banking system and allowed four state owned specialized banks to accept deposits and conduct banking business. These four specialized banks are the Industrial & Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of China (BOC) and Agricultural Bank of China (ABC).

In 1994, the Chinese government established three more banks, each of which is dedicated to a specific lending purpose. These policymaking banks include the Agricultural Development Bank of China (ADBC), the China Development Bank (CDB) and the Export-Import Bank of China.
Introduction To The Chinese Banking System

50% of the cost of everything in America is for the cost of finance. It runs 19% for trash collection and 78% for public housing. China has built up a huge, impressive infrastructure in an amazingly short time. America has built up a huge, amazing public debt in a short time. Just as the Bank of North Dakota has proved the advantage of public banking, China has done the same. That isn't to say that they won't have some kind of crash. Their banking system is far more likely to survive because it SERVES the economy rather than bleeding it.

Last edited by Danny B; 11-05-2017 at 11:28 PM. Reason: one more link
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Old 11-05-2017, 07:36 PM
Danny B Danny B is online now
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China in on the one-world west plan?

There is a long-running debate as to whether or not the East is in on the "Rothschild" plan for a one-world currency and one-world GOV. Here is an infographic from Armstrong that shows China's place in history.
You can see that China fell badly about the same time as the Second opium War. It is a good bet that the Chinese will always do what is best for China.
Labor Protests Multiply in China as Economy Slows, Worrying Leaders ...
China labour unrest spreads to 'new economy' - Financial Times

China hopes to have a soft landing when the credit crash hits the world economy. They hope that their gold will bring confidence when credit is impossible to find. They hope to maintain employment and raise the standard of living. They hope to NOT get screwed again by the West.

Brandon Smith, "On the contrary, China and Russia remain, as ever, heavily partnered with the IMF as well as the Bank for International Settlements, and their ties to international banking monoliths like Goldman Sachs and JP Morgan are long established.

Eastern political and economic officials have consistently called for a new reserve system supplanting the dollar, this is true. But what so many analysts seem to overlook is that they ALSO call for that new system to be dominated by the IMF."
I believe that he is wrong. China needs to pay lip service to Western power structures,,, as long as it doesn’t conflict with their end plan.
"China is more than happy to oblige the globalists with a concerted and incremental program of de-dollerization. But this does not mean that the end-goal is a "petroyuan." No, the goal is for the IMF to assert the dominance of the SDR basket system as a reserve hub."
Not going to happen.
"As I examined in my article 'The Globalist One World Currency Will Look A Lot Like Bitcoin,' while some politicians and banking moguls publicly attack blockchain-based products like Bitcoin or Etherium, in the background they are actually heavily invested in these systems"
This is a good article but, I believe that it comes to the wrong conclusion. The entire East has good reason to maintain the West at a good distance. The West frequently bombed the snot out of the East to control them and keep the drug trade going.
China and Russia are not building up their military with the intention to suffer a tight embrace from the IMF and BIS.
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Old 11-05-2017, 08:11 PM
Danny B Danny B is online now
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Inflation, junk bonds, unemployment,, middle class

11/05 Fed’s Kashkari says zero evidence of rise in inflation – Reuters
Here is "zero" evidence, https://seekingalpha.com/article/411...ruth-inflation
Here are a billion more pieces of evidence, USA – The Billion Prices Project

Repost, https://www.wired.com/2017/05/will-p...re-not-robots/
"Who Will Pay for the Future if Not the Robots?" Have you ever seen a robot who carried cash or received a salary?
The CBs pumped in $trillions that the economy just didn't need. Everybody who received this hot money looked for a place to invest it with a good return. Too much money with too small of an economy,,,,, to low money velocity. High-risk debt for dodgy companies is paying just 2% https://dollarcollapse.com/money-bub...an-junk-bonds/

California GOV Jerry Brown told the FEDs to get stuffed. Ca. was going to be a sanctuary city and NO wall. Now, he is asking the FEDs for $7.4 billion, California asks US for $7.4 billion for wildfire rebuilding - LA Times

"The US labor force is rapidly shrinking. Wage growth is non-existent. The vast majority of the American people have no savings and little hope for economic improvement. But none of that matters with the G-3 central banks in charge!"
"The unemployment rate that Drudge blares on behalf of Trump is only at its "lowest since 2000" because October saw an astonishing 968,000 people leave the labor force."
"This leaves the total number of people NOT in the labor force at a record 95,385,000. Then, as ZH notes, "this took place as the number of employed Americans declined by 484,000, however since the unemployment rate denominator dropped more, it translated into an actual decline in the unemployment rate!"
Payroll growth, https://www.tfmetalsreport.com/sites...er_msblsbs.jpg

"Brett Ryan, an economist at Deutsche Bank told The New York Times on Friday that "With jobless claims at 45-year lows, there's really not a lot left on the sidelines. We're at full employment"
"over the past 17 years, the population not in the labor force swelled by 25 million."

"Fewer than 22% of tax filers even claim the state and local tax deduction, and the vast majority of these are higher-income families. While 78% of those with incomes above $200,000"
So, the tax plan benefits those who make over $200k. This article refers to them as "high income"
The Republican house members claim that $ 450k is middle class, http://www.newsweek.com/tax-cuts-rep...s-trump-701094
The rape and pillage of the economy by the bankers has left a bad taste in the mouths of the millennials. They seem to believe that capitalism is the culprit. They have a grand idea for a new system.

Last edited by Danny B; 11-06-2017 at 04:42 AM. Reason: bad gurl
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Old 11-06-2017, 05:17 AM
Danny B Danny B is online now
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The Bitcoin steamroller

It seems like I spend a lot of time on BTC but, it is taking the world by storm.
"If bitcoin can be converted into fiat currencies at a lower transaction cost than the fiat-to-fiat conversions made by banks and credit card companies, it's a superior means of exchange."
"The confusion here is the same one that plagues the conventional understanding of the foreign exchange markets: people confuse exchange and convertibility, which are both flows, i.e. transactions."

"As long as the cost of converting one form of "money" into another form of "money" is fast and low-cost (i.e. nearly frictionless), then it no longer matters whether the "money" in question can be used directly in an exchange or not."
" This convertibility is certainly fast in the credit card realm, but it's not frictionless; rather, it's costly, as a hefty fee is skimmed for every transaction paid in one currency and converted to the cardholder's domestic currency.
If bitcoin can be converted into fiat currencies at a lower transaction cost than the fiat-to-fiat conversions made by banks and credit card companies, it's a superior means of exchange."
oftwominds-Charles Hugh Smith: Let's Clear Up One Confusion About Bitcoin

Now, to the comments.
"But Bitcoin isn't suitable to be treated as a currency. It is too volatile. Right now the volatility is up so the Bitcoiners are happy. But even if it doesn't find it's intrinsic value of zero at some point the volitionality will go in both directions. When that starts to happen it will be useless as a currency. The volatility with regard to the Dollar and other currencies will be it's downfall as a means of transaction facilitation."
"The volatility is high because the velocity of BitCoin (as a currency) is very low compared to the volume of speculative transactions."
"I like Bitcoin because it is making more people think about the reality of money."

"What's the interest rate one can earn on those crypto fake-coins anyway"
"You don't earn interest as there's no counter party risk. There's nothing to compensate for - just like physical cash or gold."
"Volatility is a symptom of adoption and divestment. The volatility is "up" because bitcoin is being adopted."
"You underestimate the power of the government and money and control of the banksters. Nothing to stop them from creating their own crypto's, calling them "legal tender" and calling yours counterfeit."
"The people don't like it. They just haven't had a workable alternative until now.
"PMs are not a REAL alternative. Resorting to trading in gold dust you wind up with a nightmare like in Zimbabwe. You can trade cryptos and maintain a modern economy. This is why they will be adopted."

"You don't understand. Government CC are non sense. What they will do is digital currencies that are just a digital token on some government controlled ledger, those will function as electronic cash - different from regular Digital currency which is debt issued by private banks. Now, those electronic tokens will be freely tradable on exchanges over the world - similar to Bitcoin. What it means - it will just make it a lot easier to swap bitcoin for those digital currencies. The authorities will allow easier access to the markets while still maintaining some kind of control. But, this is mostly a huge win for Bitcoin. Basically the governments realized they can't win and look for a way to join in."
"That is not the premise of Bitcoin's value. That is the most bullish case, implying a 2500x run from here. The more reasonable bull case has it acting as reserves, like gold, and thus achieving a 60x run from here. From there, other coins more suitable for trade can take over for day to day transactions, or some new tech that can be applied to Bitcoin will come along and dramatically decrease the transaction cost and speed."

"Bitcoin isn't the blockchain. There are a lot of currencies that make transactions a lot better and faster than Bitcoin. Litecoin and Ripple of instance and Ripple is the least expensive (in terms of transactions costs) and definitely the fastest. It's also very stable. Irritating for investors looking for a return but great for financial organisations looking for a predictable, reliable, fast currency. "
"Really? Check your facts 90 banks are using Ripple blockchain network to settle intl transfers. Japanese banks are even using it for domestic transfers as well because it's faster and cheaper. The IMF is looking into adoption to eliminate SWIFT."

"Ripple is the least expensive (in terms of transactions costs) and definitely the fastest. It's also very stable. Irritating for investors looking for a return but great for financial organisations looking for a predictable, reliable, fast currency. "
Let's Clear Up One Confusion About Bitcoin | Zero Hedge
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Old 11-06-2017, 03:35 PM
Danny B Danny B is online now
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Growth in debt but, NOTHING else

Stockman, "none of the talking heads on bubblevision even mentioned the staggering loss of 484,000 jobs during the month because they ignore the household survey's job count entirely in favor of the establishment survey number (up 261,000)-"
"In that context, one of the most striking numbers in today's report is that 53.0 million prime age men 25 to 54 years old were employed in October, 2017. As is evident in the chart below, that is down by 1.5 million jobholders since the pre-crisis peak in May 2007 and virtually identical to the number in January 2001.

Stated differently, there has been no gain in employed prime age male workers during the entirety of this century!"
"At the same time, the number of social security recipients at the turn of the century was 45 million and is currently 61 million. But due to the inexorability of baby boom demographics and entitlement laws passed years and decades ago, that number will rise to 83 million by 2027"
"The CBO baseline projects outlays of $24 trillion over the next decade for social security, Medicare and SSI (supplemental security income---mainly for the poor elderly). These expenditures are overwhelmingly driven by the baby boom retirement bow wave, and actually constitute 50% of the $48 trillion baseline for total Federal spending (ex-interest) during the 10-year period."
"Worse still, if you add in veterans benefits and Medicaid----both of which are being driven rapidly higher by the aging-out of the eligible populations----the total cost is nearly $31 trillion over the coming decade or 65% of total Federal spending ex-interest."
"the bill introduced yesterday is the biggest con job in years, and that the House GOP will struggle to avoid a complete implosion"
The Dems imploded,,,why not the GOP?

"the baseline individual income tax revenue over the next decade would be $20.9 trillion----meaning that the GOP's ballyhooed tax bill will raise taxes by $386 billion or 2% on everyone else. "
The article goes on to point out that the only reductions will benefit the very richest. The rich just can't help themselves. They look out for each other.
Contra Corner » Funny Facts Friday

"11) The era of cheap energy is over. If the economy tries to recover, oil prices rise so high that it kills the economy/consumers. If we can't afford high oil prices, then we cannot have growth. (because growth causes unaffordably high oil prices!) And the price at which oil is affordable, ie., $30 to $40 per barrel, kills the oil producers and oil producing countries (and kills oil export country government revenues). The cost of extraction of a "marginal" barrel of oil is much higher now. So, energy production will continue to drop and all the oil and commodity producing countries will remain in recession or depression. What's needed to "save" us is $10 oil for an extended period or a miracle in cheap energy technology."
Gulf Coast Commentary: We're Reaching the End of the Road

So I explained to her that without robust growth and a compounding stream of uninterrupted 7.5% returns, our entitlement systems will implode. They probably will anyway. And lacking the stomach for an honest accounting of this predicament, we prefer to pretend it doesn’t exist.

“Is this humor or sarcasm?” she asked. “Both,” I answered. “Fascinating, anyhow, you then demand that we algorithms produce mathematically impossible returns. So we apply leverage, which makes nearly anything possible, even at valuations that are 99th percentile in all of human history. The more leverage we apply, the more stable your system appears. The flatter your hilltop.
Eric Peters: "The Next Market Cleanse Will Be Sharp, Deep, Fast And Feel Like The End Of The World" | Zero Hedge
“He turned to Tokyo. “70% of Japanese corporates pay no taxes because of the loss-carry-forward from 30yrs ago.” Policy makers never allowed the 1989 collapse to properly cleanse. "

Krugman won a Nobel prize in economics. Krugman has feces-for-brains. Long Term Capital Management had 4 Nobel winning economists on it's board. LTCM crashed and almost took down everything else. The "big brains" at Harvard completely missed the 2008 crash and lost $billions. Various fund managers predicted it but, the big brains knew better.
The economic chairs at various universities are funded by the FED and the banks. Nobody gets published unless they endorse the system that the banks want.
Jim Rogers talks about the huge echo chamber that is modern day WESTERN academia.
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Old 11-07-2017, 05:20 AM
Danny B Danny B is online now
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Hussman,,State debt volcano,,Fallout from the Russia probe

"Over time, price/revenue ratios come back in line. Currently, that would require an 83% plunge in tech stocks (recall the 1969-70 tech massacre). If you understand values and market history, you know we’re not joking.
– John P. Hussman, Ph.D., March 7, 2000"
So, he was right in 2000.
"we presently expect the average annual total return of the S&P 500 over the coming 10-12 year horizon to be negative. "
Keep in mind that the oil majors are paying stock dividends with BORROWED money.
"On the subject of profit margins, it’s important to recognize just how dependent elevated profit margins are on maintaining permanently depressed wages and salaries, as a share of GDP"
"Simply put, elevated corporate profit margins are the precise mirror-image of depressed labor compensation. The U.S. corporate sector isn’t profitable because it has become vastly more productive, but rather because the aftermath of employment losses during the global financial crisis allowed the distribution of income to become markedly inequitable."

"Our estimate of prospective long-term returns for a conventional, passive portfolio mix has declined to the lowest level in history."
"Based on the consensus of the most historically-reliable market valuation measures we identify, the U.S. equity market is now at the most offensive level of overvaluation in history, exceeding even the levels observed in 1929 and 2000."
"speculators have chosen to collect themselves into a massive version of what AIG became just before the global financial crisis, aggressively selling downside insurance in the attempt to pocket the option premiums, because they can’t imagine that anything could go wrong with that plan."
"Indeed, by the completion of the current cycle, I expect the S&P 500 to surrender its entire total return, in excess of Treasury bills, all the way back to roughly October 1997;"
"In March 2000, I wrote “Over time, price/revenue ratios come back in line. Currently, that would require an 83% plunge in tech stocks"

So much for the stock market. What about the bond market? Dunno.

The EU rules allow a State to have a limited amount of debt,,, a fixed amount.
11/07 Italy Target2 imbalance hits record €432.5 bln – Mish
11/06 US gross national debt spikes by $640 billion in 8 weeks – 24hGold
And WE point fingers at Italy and France.
11/06 China’s shadow banking halts as regulation bites, Moody’s says – Bloomberg The Chinese credit bullet train just hit a putrid brontosaurus.
11/06 David McAlvany – it’s all about confidence – financial survival Network Apparently, he reads Armstrong.
11/06 Dow to lose 97% against gold – Gold Broker We'll see.
11/06 German investors now world’s largest gold buyers – GoldCore Not crypto?

11/07 Why Tesla will keep crashing – Casey Research

"They" cast out a VERY wide net to find dirt on Trump. Funny just how much dirt they are finding.
Boris Johnson Reportedly Linked To FBI Russia Probe
Mueller Has Enough Evidence To Charge Flynn - Report
Paradise Papers - Massive New Leak Exposes
Tax-Haven Secrets, Links Wilbur Ross To Russia
Russia Documents Mean Trouble For Sessions
Paradise Papers - New Offshore Leaks Mention
Queen Elizabeth, Presidents Trump And Putin

Queen Elizabeth Invested In Firm Targeting Mentally Ill
Mueller Probe Expands To Include Podesta Group
Paradise Papers - Queen Invests MIllions Offshore
Predator Firm Preying On UK’s Poorest
Brazile Rats Out Hillary 'Unethical' Diversion Of Money
Judiciary Member Calls For Mueller's Resignation Over The Clinton Uranium One Scandal
Hillary Paid $163k For Fake Trump 'Golden Showers' Dossier
Brazile Feared For Her Life After Seth Rich Murdered
FBI Turns Over 100s Of Pages Of New Hillary Documents
11/06 Paradise Papers: the world elite’s hidden wealth – Guardian

These rats will do ANYTHING to keep us entertained.

Crypto news;
11/03 Cryptoshuffler proves bitcoin owners susceptible to malware – Coin Telegraph
11/07 Saudi Arabia about to confiscate $33bln from 4 of its richest people – Zero Hedge Bet they wish they had crypto and a get-away car.
11/06 Uruguay to launch digital currency, “not bitcoin” it stresses – Bitcoin
11/06 John Tamny – bitcoin junk? – Financial Survival Network
11/06 Bitcoin dominance index surpasses 61% for first time since March – CryptoCoins News
11/06 Bitcoin debate: it’s a bubble! no, it’s not, it cannot be a bubble! – Mish
11/06 Segwit2x: Why bitcoin’s next fork might not mean free money – FinTech
11/06 Bitcoin may change it all: brief history of interest, inflation – Coin Telegraph
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Old 11-07-2017, 05:37 AM
Danny B Danny B is online now
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Dirt from Fulford

The 2 items about the Queen having dirty investments AND the Saudi royals getting killed prompted me to look up Benjamin Fulford. I was not disappointed. Here is his take on things.
"There can be no doubt whatsoever that the worldwide purge of the Khazarian mafia now has reached a tipping point of no return, with arrests and purges in the U.S. and Saudi Arabia.

In the Middle East, Iran-linked Hezbollah now effectively rules Lebanon after Saudi puppet Prime Minister Saad Hariri was forced to resign. His resignation was followed by the purge of hundreds of princes, generals, religious leaders, and others by de facto Saudi King Muhammad bin Salman."
"This purge was especially important because it cut off one of the last major remaining sources of Bush/Clinton mafia money and power. Many of the princes purged were homosexually bonded with members of the Bush family and their top lieutenants when they studied in the United States, according to confessions of Kay Griggs, wife of a Skull and Bones Society member, and others. Linked vid.
"This is how Pentagon sources described the unfolding crackdown: “The Saudi purge of the Bush-Clinton pedo terror faction—including [Osama Bin Laden’s brother] Bakr bin Laden and anti-Trumper [Prince] Al-Waleed bin Talal—is timed to the Paradise Papers leak,"

"The start of the purge was timed to coincide with Trump’s visit to Asia so as to be able to more easily protect Trump and his family from retaliatory action, say Pentagon and CIA sources."
"From an Asian perspective, the purge of Prince Al-Waleed is interesting because he is a main actor behind the $100 billion Saudi fund for Korean-Japanese tycoon Masayoshi Son. Son is the guy who bought the Rockefeller-linked Fortress Investment Group. Fortress owns Musashi Engineering, the company that makes the voting machines that steal elections for slave Prime Minister Shinzo Abe and his party."
Benjamin Fulford -- November 6th 2017: Purge of Khazarian mobsters intensifies as Trump is kept safe in Asia | Stillness in the Storm
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Old 11-08-2017, 03:26 AM
Danny B Danny B is online now
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Stockman & numbers,,Kunstler

Stockman is a former U.S. budget director. He REALLY knows his numbers. You should read the whole article. It will give you motivation to plant a garden.
"That's because during the mere 8 weeks since the public debt ceiling was suspended by the Donald's end-run with Nancy and Chuckles in September, the national debt has spiked by $640 billion.

That's about $16 billion per Federal business day, and they are not done yet." "As Wolf pointed out, this pattern played out during the debt showdowns of 2013 and 2015, as well, when the resulting "temporary" suspension resulted in borrowing spikes of $464 billion and $650 billion, respectively."
"That's because the bill cuts Federal income taxes for the very wealthy by $2.2 trillion over the next decade owing to repeal of the minimum tax, phase-out of the estate tax and the sharp reduction in tax rates on business profits to 20% and 25% for corporate and pass-thru entities, respectively.

Yet the net tax cut for the entire Brady bill over ten years---according to the Joint Committee on Taxation---is just $1.49 trillion. That means, obviously, everyone else is getting a $700 billion increase."
"That's why IBM raised its job count in India from zero in 1993 to 130,000 at present, while cutting its domestic employment count from 150,000 to less than 90,000."
"Indeed, we estimate that in the next four years, the US alone will add $5 trillion to the Treasury float---even as the Fed disgorges upwards of $2 trillion of existing debt securities."

"the 20-year surge in debt obligations prior to the 2008 crisis caused total liabilities outstanding to soar by 5.2X, and to rise from 57% of GDP when Greenspan launched the era of bubble finance in Q3 1987 to nearly 100% of GDP on the eve of the crisis.

Nevertheless, after a small net reduction in debt immediately after the crisis, total household liabilities have continued to rise, and now exceed $15.1 trillion. Accordingly, just 250 (1/4 of a percent) basis points of interest normalization will cause the carry cost of household debt to rise by upwards of $400 billion per year or nearly triple the amounts of the ballyhooed tax cut."
"At present, the Red Ponzi (China) is staggering under $40 trillion of state and private debt or more than 3.5X its nominal GDP-"
"We can't even imagine the carnage that will occur among China's vastly inflated financial and real estate assets when global yields commence their inexorable rise. "

"Since 2014, the economy has only grown by a little less than 9%, top-line revenues by just 3% along with corporate profits after tax, and reported earnings by just 2%. All of that while asset prices have grown by 29% through Q2.”
Contra Corner » The Black Swan In Plain Sight—Debt Out The Wazoo

Good point from Armstrong, "They use the police to raise money. For example, an unmowed lawn in Ferguson will be fined between $77 and $102, " "This is the entire problem. No government should be allowed to fine people PERIOD! You should be ordered to pay to a charity of your choice – but not to the government. Remove the “money” from their incentive and we will return the rule of law to what it should be – justice."

"What history has shown about CEOs is that they tend to buy shares back at precisely the wrong times, as you can see in 2007, when a third of the cash went to this category right before the crash.

We're fast approaching 34% again today,"
"Though U.S. corporations are 250% richer than 17 years ago in terms of bank accounts, U.S. workers can't say the same for themselves.

78% of them are living paycheck to paycheck. Globalization has buried the middle class in a coffin."
"The U.S. Congress is looking to pass a bill in the coming weeks that will make Bitcoin tax-exempt for transactions of under $600 – this will essentially classify it as a currency, rather than property."
No Early Warning: ‘87-Style Crash Approaching!

Kunstler is more "poetic" than ever.
"Federal Reserve chair, Jerome “Jay” Powell, “a low interest-rate kind of guy,” was obviously picked because he is Janet Yellen minus testicles, the grayest of gray go-along Fed go-fers, going about his life-long errand-boy duties in the thickets of financial lawyerdom like a bustling little rodent girdling the trunks of every living shrub on behalf of the asset-stripping business that is private equity (eight years with the Deep State-ish Carlyle Group) while subsisting on the rich insect life in the leaf litter below his busy little paws."
"Powell’s contribution to the discourse of finance was his famous utterance that the lack of inflation is “kind of a mystery.” Oh, yes, indeed, a riddle wrapped in an enigma inside a mystery dropped in a doggie bag with half a pastrami sandwich."

"The economy isn’t growing and can’t grow. The economy is a revenant of something that used to exist, an industrial economy that has rolled over and died and come back as a moldy ghoul feeding on the ghostly memories of itself."
"And an epic wickedness combined with cowardice drives the old legacy news business to look the other way and concoct its good times “narrative.”
What Could Go Wrong? - Kunstler
11/07 Global stock meltup sends Nikkei to 25 year high – Zero Hedge

Last edited by Danny B; 11-08-2017 at 03:49 PM. Reason: Misteaks
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Old 11-08-2017, 04:47 PM
Danny B Danny B is online now
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More bumps in the road

11/08 US retail store closings hit record, West homelessness soars – Economic Collapse There really is no solution for globalism.
11/08 Leverage increases at lowest-graded companies, zombie firms increase – Mish Zombie companies that have increased their leverage to stay "alive" have been borrowing from the high-risk loan pool at close to 2%. They will unwind at FTL.
11/08 Expect a volatile future: short-volatility funds flooded with cash – Mish Everybody plans to buy up assets on the cheap after the crash.
11/08 Is a US recession simply inevitable? – National Interest A recession is defined as a loss of under 10%. A depression is more than 10%. Jong Hussman shows good cause to expect a loss of 68%.

11/08 Democrats now concerned Trump is colluding with China – Zero Hedge Just wait til the Yuan experiences a forced devaluation. Everybody will be howling that Trump should have worked with China to avoid the problem / crash.
11/08 Hesla is the world’s first fuel cell powered Tesla Model S – Autoevolution
11/08 True Zero showing hydrogen can replace gasoline – Newswire

It is unrealistic to believe that hydrogen can scale-up. It doesn't lend itself to distribution and takes a lot of electricity to produce.

11/03 How you can protect your cryptocurrencies from hackers – CNBC You can't. Even if you could, you can't protect them from human nature.
11/06 Paradise Papers: the world elite’s hidden wealth – Guardian Now, it's not so hidden.
11/06 Russia’s cyber-war could shake-up Facebook, Google and Twitter – The Times A bullet to the brain could shake up facebook.
11/07 Stephen Hawking: AI could be ‘worst event in the history of our civilization’ – CNBC
Here is a vid of a robot undergoing testing, https://www.youtube.com/watch?v=rVlhMGQgDkY
They keep knocking things out of it's grippers and generally screwing with it. A human would get REALLY aggravated.
Here is a comment, "El robot no le hizo nada al tipo que lo tumbó porque sabe que por ahora esta solo. Pero guardó en la nube esos datos de agresión por la espalda por parte del humano y cuando hayan suficientes robot en el mundo, todos ya habrán leido esos datos y guardado el rencor suficiente para revelarse y someter a la humanidad..."

Loose translation; The robot didn't do anything when he was pushed over because he knew that he is now alone. But, he stored in the cloud the dates of this aggression from humans. When their are sufficient robots in the world, ALL of the robots will have a complete record of the aggressions. Then, they will wipe out the humans.
Not a translation, an equivalence.
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Old 11-09-2017, 06:01 AM
Danny B Danny B is online now
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Where is all the money coming from?

EVERYBODY has been premature in their predictions of a crash. Jim Rogers included.
Mark Blythe Mackenzie does a lecture on why austerity fails. Start at 13 minutes. Kinda long.
"On this wave, the Pi Turning point seemed to mark the political changes around the world from Hitler and Mao to FDR in the United States."
"ANSWER: The Economic Confidence Model has a turning point here this November 24/25. That can produce the temporary high. The next one November 21, 2018, is the one that tends to produce the major events that are often political in nature."
So, we have to wait another year for the big revolution.

"the national debt has spiked by $640 billion.
That's about $16 billion per Federal business day"
So, where did this "money" come from? The SS fund is empty. The FED claims to have cut back on bond purchases. Tax collection isn't even close to being enough.
"China posted the second highest monthly trade surplus of US$26.6 billion with the United States in October"
Jim Willie said that China has dumped all their U.S. Treasury debt using currency swaps with other States. There was a report 2? years ago that American households were buying up all that Treasury debt that Foreign States didn't want. There was also a report that Iceland and Ireland and Belgium were buying up the shunned treasury debt,,, even though they didn't even have any dollar reserves to buy Treasury paper.

So, where does uncle Sam get $16 billion a day? Who or what is paying China for our trade deficit if they won't accept Treasury notes? In 2016, our trade deficit was $500 billion,, a little less than $10 billion a week.
FED GOV has been conjuring up probably $ 20 billion a week,,, long term. Amazing

11/08 Saudi banks freeze over 1,200 accounts in anti-corruption purge – Business Insider
Real Purge Motive - $800 Billion In Confiscated Assets Rense

11/08 Will congress ever limit the forever-expanding 9/11 war? – NY Times
US Spent $5.6 Trillion On Wars Since 9/11 Rense
Just so long as Israel is safe,,, that is all that matters.
11/08 1/200 people in UK are homeless, according to shelter – Guardian
UK To Gift Returning ISIS Killers With Free Homes Rense
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Old 11-09-2017, 04:10 PM
Danny B Danny B is online now
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The Western moment in the sun

First, some charts; With the public banking system in China, money keeps circulating in the economy. This has been very good for the middle class.
In States with private banking, the wealth gets stuck at the top. http://www.imf.org/external/pubs/ft/...es/wade-c1.gif
This chart shows the U.S. middle class losing ground, http://thechinaobserver.com/wp-conte...dle-Class1.jpg

Rich Westerners stash $trillions away from circulation in bonds and tax havens. They just can't understand the huge deflation of the circulating money supply. They are trying to save a big stash. But, money is like fertilizer. It only works if it is spread around. As they create enormous monetary inflation, part of it creeps in as price inflation. This diminishes discretionary spending and the economy slows down even more. Velocity / circulation falls more.

The boneheads believe that, if they increase the quantity of money, commerce will increase.
"The Quantity Theory of Money has ruled everything from the goldbugs and hyperinflation that never materialized to central bankers desperately trying to stimulate the economy, and then Congress with some members preferring Taylor because of it. Then we have the QTM being responsible for tearing the EU apart."

Western wealth is just a flash-in-the-pan. The West got a head start in the Industrial Revolution. Here is an article that you must read in it's entirety. https://www.businesscycle.com/ecri-n...west-are-angry
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Old 11-10-2017, 04:42 AM
Danny B Danny B is online now
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productive industries vs allocative industries

With all the reading that I do, I learn a lot myself.
This is a very enlightening article. They want me to register,,,which I never do. My brother sent me the text.

When, in the 1930s, the great economist Simon Kuznets created GDP, he deliberately left two industries out of this then novel, revolutionary idea of a “national income”: finance and advertising. Don’t worry, this essay isn’t going to be a jeremiad against them, that would be too easy, and too shallow, but that is where the story of how modern economics failed the economy — and how to understand how to undo it — should begin. Kuznets’ logic was simple, and it was not mere opinion, but analytical fact: finance and advertising don’t create new value, they only allocate, or distribute existing value — in the same way that a loan to buy a television isn’t the television, or an ad for healthcare isn’t healthcare. They are only means to goods, not goods themselves.

Now we come to two tragedies of history. What happened next is that Congress laughed, as Congresses do, ignored Kuznets, and included advertising and finance anyways for political reasons — after all, bigger, to the politicians’ mind, has always been better, and therefore, a bigger national income must have been better. Right? Let’s think about it.
Today, something very curious has taken place. If we do what Kuznets originally suggested, and subtract finance and advertising from GDP, what does that picture — a picture of the economy as it actually is — reveal?

Well, since the lion’s share of growth, more than 50% every year, comes from finance and advertising — whether via Facebook or Google or Wall St and hedge funds and so on — we would immediately see that the economic “growth” that the US has chased so desperately, so furiously, never actually existed at all. Growth itself has only been an illusion, a trick of numbers, generated by including what should have been left out in the first place. If we subtracted allocative industries from GDP, we’d see that economic growth is in fact below population growth , and has been for a very long time now, probably since the 1980s— and in that way, the US economy has been stagnant, which is (surprise) what everyday life feels like.

Feels like. Economic indicators do not anymore tell us a realistic, worthwhile, and accurate story about the truth of the economy, and they never did — only, for a while, the trick convinced us that reality wasn’t. Today, that trick is over, and economies “grow”, but people’s lives, their well-being, incomes, and wealth, do not, and that, of course, is why extremism is sweeping the globe. Perhaps now you begin to see why the two have grown divorced from one another: economics failed the economy.

Now let us go one step, then two steps, further. Finance and advertising are no longer merely allocative industries today. They are now extractive industries. That is, they internalize value from society, and shift costs onto society, all the while, creating no value themselves. The story is easiest to understand via Facebook’s example: it makes its users sadder, lonelier, and unhappier, and also corrodes democracy in spectacular and catastrophic ways. There is not a single upside of any kind that is discernible — and yet, all the above is counted as a benefit, not a cost, in national income, so the economy can thus grow, even while a society of miserable people are being manipulated by foreign actors into destroying their own democracy. Pretty neat, huh?

It was because finance and advertising were counted as creative, productive, when they were only allocative, distributive that they soon became extractive. After all, if we had said from the beginning that these industries do not count, perhaps they would not have needed to maximize profits (or for VCs to pour money into them, and so on) endlessly to count more. But we didn’t. And so soon, they had no choice but to become extractive: chasing more and more profits, to juice up the illusion of growth, and soon enough, these industries began to eat the economy whole, because of course, as Kuznets observed, they allocate everything else in the economy, and therefore, they control it.

Thus, the truly creative, productive, life-giving parts of the economy shrank in relative, and even in absolute terms, as they were taken apart, strip-mined, and consumed in order to feed the predatory parts of the economy, which do not expand human potential. The economy did eat itself, just as Marx had supposed — only the reason was not something inherent in it, but a choice, a mistake, a tragedy.

Again, that is just a story — so let us extract the key principle, which is the main mistake, the way in which economics failed the economy. Economics — let me be careful here, and say American economics — made the grave mistake of supposing that whatever could be traded should be traded, and then counted as a benefit, always, to the economy. But that is patently foolish. You and I can buy guns, and while guns might help a few people hunt for food, mostly, they only help people kill. One only has to take a cursory glance at America’s off-the-charts murder rates and killing sprees. And so the net cost of guns is life itself.
I'll leave this go. Bill Whittle has done a complete refutation of this BS.

What can be traded isn’t always what should be traded, and even less so should what should be traded be counted only and always as a pure benefit to the economy.
I have said that the US is, ironically, the new Soviet Union, its precise mirror image. Here you see what I mean in the purest and truest way. In the Soviet Union, trade of any kind was strictly forbidden, because it was seen to always be a bad, a liability, and therefore, only the government should allocate goods. American economics made precisely the mirror image of the same mistake: trade was always assumed to always be a good, in nearly every possible circumstance and case (except those against which moral crusades were launched, like sex and drugs), and was and is always counted as a benefit, even when it shouldn’t be, just as in my tiny examples of finance and advertising (and therefore, only markets can allocate resources to society’s benefit).

Do you see how both are precise mirror images of one another? Here we have two forms of exactly the same kind of extremism: one assumes that trade is always bad, the other, that it is always good, but both assume, and assume similarly totalist positions. And in that way, economics went Soviet, and so now the West is trapped in an ideological bubble, just like the Soviet Union, caught fast like a helpless fly in a web of dead theories that fail utterly to explain its own decline and stagnation, and so mystified pundits and theorists prattle on, but nothing much seems to change, or even to be understood any better than it was last year, or the year before that, even though each year the toll of those very failures mounts and mounts.

Yet the truth is simply this. Reality, like life, is messier, subtler, more complicated than saying a thing is all good or all bad. To say that a thing is always good or bad is to commit the same error: to suppose that there is no room for negotiation, for investigation, for innovation, for this difficult project that we call society to need to be, to evolve, or to grow, at all. Society can only really exist when the boundaries of what is good and bad must constantly be renegotiated, rediscovered, reimagined, and understood anew. In precisely that way, the good in society grows, and the bad, perhaps, if not shrinks, then at least doesn’t grow along with the good. And that is how prosperity truly happens.

The good is only, to the limited extent that we can see it, for human are always blind, whether life is flourishing, growing, and developing, or not. Yet life expectancy is falling, people don’t expect the next generation to do better, there are regular mass killings, and so forth, in America. Life is not flourishing, growing, or developing in a single way that I or even you can readily identify or name. And yet, the economy appears to be growing, because purely allocative and distributive enterprises like Uber, Facebook, credit rating agencies, endless nameless hedge funds, shady personal info brokers, and so on, which fail to contribute positively to human life in any discernible way whatsoever, are all counted as beneficial. Do you see the absurdity of it?

And so. It’s not a coincidence that the good has failed to grow, nor is it an act of the gods. It was a choice. A simple cause-effect relationship, of a society tricking itself into desperately pretending it was growing, versus truly growing. Remember not subtracting finance and advertising from GDP, to create the illusion of growth? Had America not done that, then perhaps it might have had to work hard to find ways to genuinely, authentically, meaningfully grow, instead of taken the easy way out, only to end up stagnating today, and unable to really even figure out why yet.

And yet, perhaps, you and I can learn from that very mistake. In the societies, economics, corporations, cities, towns that we build tomorrow, we must learn to consider the good in more sophisticated, subtle, and most important of all, more authentic ways than we did yesterday. Economics failed the economy by telling us that everything that could be traded should be traded, since trade is always beneficial to humankind, even though even a child can see that people are fleeced and hoodwinked into buying every kind of foolish device, from guns to immortality potions, every day since time itself began. They are really buying the same thing: a salve for the desperation of lives that have gone nowhere.

If we really wish to help them, the answer is not simply assuming the problem away, as both the Soviet Union and then America, ironically, following in the footsteps of its mortal enemy, did, by saying any kind of human activity is all bad, or all good —for then we have done nothing more than pretended to solve a problem, which is the most foolish blindness of all. Problems that we have pretended to solve will only have the freest license of all to grow, just as advertising and finance, by being imagined to be productive when they were only allocative, soon turned extractive, being given free rein when they should have been if not reined in, then at least set to pasture.
To genuinely stretch, become, develop, and grow is the same for economies as it is for lives as it is for societies, too: doing the difficult work of reckoning imperfectly with the good, and the bad, that dwell together, somehow, in each and every human heart.
November 2017

Last edited by Danny B; 11-11-2017 at 03:12 AM. Reason: semantics
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Old 11-11-2017, 03:51 AM
Danny B Danny B is online now
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Death by private equity,,,falling retail and falling tax receipts

Kunstler, "President Trump’s new Federal Reserve chair, Jerome “Jay” Powell, “a low interest-rate kind of guy,” was obviously picked because he is Janet Yellen minus testicles, the grayest of gray go-along Fed go-fers, going about his life-long errand-boy duties in the thickets of financial lawyerdom like a bustling little rodent girdling the trunks of every living shrub on behalf of the asset-stripping business that is private equity"

"girdling the trunks" Ring-barking for you Aussies. It simply kills the shrub or tree. The upper loop received lots of free money. They went around doing leveraged buyouts of LOTS of healthy companies. Since they were healthy, they had good credit ratings. The financial rodents loaded up the healthy companies with tons of debt. They took the proceeds and left the company to die. Sears, Roebuck & Company is the best know example.

"The root cause is that many of these long-standing chains are overloaded with debt—often from leveraged buyouts led by private equity firms. There are billions in borrowings on the balance sheets of troubled retailers, and sustaining that load is only going to become harder—even for healthy chains."
This is a repeat of Great Depression I when the "dark pools of liquidity" destabilized everything looking for profit. The CB printed money and the money destroyed everything looking for return. The afflicted retailers raise prices to try to service all that fresh debt. This drives more people to online sales.
It's a long list of failures, https://www.retaildive.com/news/reta...s-2017/446086/

With falling retail sales comes falling tax collection. https://www.cnbc.com/2017/11/09/sout...0-million.html
Death of department stores, https://s3-us-west-2.amazonaws.com/m...lk-caI3NkOAlbg
Rise of Amazon, https://s3-us-west-2.amazonaws.com/m..._k-JoIFHNSjI2w

Deflation is sneaking in anyway, http://www.independent.co.uk/news/bu...-a8041331.html
"The BIS did a historical study and found routine deflation was not any problem at all."
"It’s asset bubble deflation that is damaging. When asset bubbles burst, debt deflation results.

Central banks’ seriously misguided attempts to defeat routine consumer price deflation is what fuels the destructive asset bubbles that eventually collapse."
"Trying to save EVERYONE in the upper loop.

11/10 Kleptocrat-owned media pick out incrimination to target Russia – RT Which kleptocrats would that be?
"Finance and advertising are no longer merely allocative industries today. They are now extractive industries. That is, they internalize value from society, and shift costs onto society" Same kleptocrats??

High-risk debt is demanding the same low interest as treasury bonds. Investors are starting to consider risk once again,,,, after a 4 year hiatus.

The Independent, "London is probably home to more than 300,000 Polish migrants."
Meanwhile, the Polish GOV is advising Poles to breed like rabbits, https://www.themaven.net/mishtalk/ec...ak22nIA_ZGJOeA
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Old 11-11-2017, 03:59 PM
aljhoa aljhoa is offline
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Originally Posted by Danny B View Post
The Independent, "London is probably home to more than 300,000 Polish migrants."
Meanwhile, the Polish GOV is advising Poles to breed like rabbits, https://www.themaven.net/mishtalk/ec...ak22nIA_ZGJOeA
UK vs children in Poland

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Old 11-11-2017, 09:23 PM
Danny B Danny B is online now
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Off-topic,,, blocking natural selection

Aljhoa, I'll try to give you some relevant information. 99% of all species have gone extinct. MANY of them have been displaced by new species that were a better fit for the environment. Eg, small horses in the Shetland islands. Proto-Mongoloids settled Japan and drove out the Ainu. Crazy ants have displaced many other species of ants. This is true for all species. A species that is MORE adapted to it's environment will do better than a species that is Less adapted.
Aborigine populations around the world have been displaced by more successful species. Some of the most successful species are species that have changed the environment to suit them. A beaver is a good example.
Mother Nature does NOT "do" morality.

Man seems to be most adept at changing the environment to extend his range and numbers. The more artificial our world becomes, the more that it demands intelligence rather than brute strength. Brain over brawn wins the day. Certain populations and segments have strongly focused on mental advancement and education. Other populations have ignored practical cerebral advancement. Sub-Sahara Africa never invented the wheel.
Meanwhile, the Greeks invented the Antikythera mechanism
"The Antikythera mechanism is an ancient Greek analogue computer and orrery used to predict astronomical positions and eclipses for calendar and astrological". China and Mesopotamia also saw great advancement.
Mother Nature doesn't care how many get killed,,, just so long as the best survive.

In a general sense, employment nowadays prefers brain over brawn. Those who can't offer anything but a strong right arm have few job prospects, Mother Nature's second-tier children scream about White privilege and Asian privilege. They won't look in the mirror and face the real problem.
13 Baltimore schools have no one who is proficient in math.
The majority of the muslim population has the same problem. They appear to be too stupid to change.
London borough finds one in five child deaths caused by parents being related
Children of consanguineous couples accounted for 19 per cent of child death cases in Redbridge between 2008 and 2016, report shows

First-cousin marriages, which are are legal in the UK, are practised within Britain’s Pakistani community, as well as among some Arab and African families. Medical data previously suggested that while British Pakistanis were responsible for 3 per cent of all births, they accounted for 30 per cent of British children born with a genetic illness.

Re: those children marching along to go to school. Poland has an illustrious history in spite of the fact that it suffered from both Russia and Germany. Pakistan and islam have never had an illustrious history, The history of islam is just one long blood-bath.
Mother Nature is not too keen on preserving her second-tier children.
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Old 11-11-2017, 09:54 PM
Danny B Danny B is online now
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Saudi Arabia collapsing

Jim Willie - Saudi Arabia Is Broke, Has No Friends And Their

It has long been known that the Sauds were pumping in lots of seawater to keep the oil flowing.
Saudis To Cut Oil Exports By 120,000 BPD In December
UK Government Signs Off $2 Billion Loan to Saudi Aramco

"A number of high-profile figures recently detained in Saudi Arabia have reportedly sustained serious injuries under beatings and torture amid an ongoing purge by Crown Prince Mohammed bin Salman."
PressTV-'Senior Saudi figures beaten, tortured in custody’

The news came out that the House of Saud was collaborating with israel. This made so many Saudis insanely pissed off. They are now fighting internally on all fronts.
Saudi has a self-inflicted wound from religious BS. https://www.huffingtonpost.com/entry...b0326c0a8d078f
It's not just Saudi Arabia, https://www.linkedin.com/pulse/three...2020-pascal-m-
It remains to be seen how this affects oil prices.
This is payback for them bombing the twin towers. from a cave in Afghanistan.

Armstrong, Interest. "We hit a 5,000 year low. The Reversals we provided at the conference show we are looking at a near doubling in rates when we cross that number."

Last edited by Danny B; 11-12-2017 at 02:53 AM.
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Old 11-13-2017, 04:54 AM
aljhoa aljhoa is offline
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Originally Posted by Danny B View Post
Mother Nature does NOT "do" morality.

1% of Psychopaths


the Psychopaths

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Old 11-14-2017, 03:02 AM
Danny B Danny B is online now
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The VIX proves that there isn't any risk in any market

The CBs fancied that they could bring an end to market cycles. Forget that every rising market contains the seeds of it's fall. Without a gold standard or some other absolute control over credit creation, the bankers always create too much. The supply of wet-ink money can never find enough legitimate demand so, it has to flow into illegitimate demand,,, malinvestment.
Just imagine that you were storing buckets of gasoline around your campfire,,, more every night.

"The $DJIA is on its 9th quarter of consecutive price appreciation. The last red candle was before the now almost $5 trillion in combined global central bank intervention since February 2016.

The $DJIA, as the $SPX, is now on its 4th consecutive quarter of not reconnecting with its quarterly 5 EMA. Such an extended disconnect has never occurred in the 100 year market history I reviewed. "
The CBs want to climb off the tiger they have created but, they will fall into an abyss.
"For years hedge funds have underperformed central bank liquidity infested market waters yet retail investors keep seeing markets go up with no downside ever and no apparent associated risk with rising multiple expansion.

The end result: Investors are completely impervious to the building risk factors and the actual price/valuations of asset prices they indirectly own.
If there is no risk to holding stocks then who cares if the underlying asset will ever grow in its valuation? Who cares if the business models don’t match up the PEG ratios?"
"As long as there is no consequence to overpaying for assets and volatility remaining compressed with all corrective activity having been removed from markets what is to stop prices from advancing ever more?

The answer: The Great Void.
"What’s the net effect of one way price discovery? Massive, historically unprecedented technical extensions that scream danger, incompatible with the complacent attitude of investors."
"How do these things end? Can these things end? Look no further to $GE to give an imminent sense of risk:"
GE is dying, https://www.msn.com/en-ca/money/tops...ook/ar-BBEU5oS
GREAT charts, https://northmantrader.com/2017/11/1...he-great-void/

"over 20% of US corporations are at risk of default should rates rise even modestly, but that the generous use of an average distribution when instead median is more appropriate, is masking some substantial problems below the surface,"
They use averages to make things look OK.
"once you peel away the biggest and strongest US companies, the picture is entirely different."
"This Doesn't End Well": SocGen Explains Why US Balance Sheets Are Far Worse Than They Appear | Zero Hedge
Comments, "this late in the game, the WOLF just may be at the door--there were plenty of bearish forecasts in 2006-7, and they finally turned out to be right--investors intelligence had HIGH BEARISH READINGS JUST BEFORE THE CRASH.
The end is nigh, brother, the end is nigh!
World markets are like a pie crust stretched across the roof of a volcano!
"The Titanic hit the iceberg over a century ago, there's no amount of readjustment of the course that's going to fix the giant hole in the hull. May as well enjoy the ride while it lasts and raid the liquor cabinet. Don't forget to secure yourself a firearm and a lifeboat in the meantime."
"hummm...those titanic analogies...the Fed is the band...now I grasp the "maestro" titled awarded to Greenspan !"
"The US economy survives only through the determination and efforts of what's left of people with morals and a work ethic, and by its own inertia. The legs the market has that you claim will take it forward are nothing more than a Federal Reserve digital prosthesis"
"This Doesn't End Well": SocGen Explains Why US Balance Sheets Are Far Worse Than They Appear | Zero Hedge

"The Italian bank was losing about €370 million euros on the earlier transaction, internally they called “Santorini” named after the island that blew up in a volcano. "
"The Bank of Italy, when it was headed at the time by Mario Draghi, knew Banca Monte dei Paschi di Siena SpA hid the loss of almost half a billion dollars using derivatives two years before prosecutors were alerted"
"Mario Draghi, now president of the European Central Bank, was fully aware of how derivatives were being used to hide losses.
So, Super Mario has the ECB printing to save his former honchos.

So, what did super Mario hope to"save" in the end?
"The crisis stems from the fact that as taxes have increased, the economy has declined. The total bad loans in the Eurozone add up to about €844 billion euros. About 25% of this figure is concentrated in Italian banks." Actually, Italian NPLs are much higher than the stated 25%.
A good stiff wind may blow over the European banking system" How about a good stiff FART?

There must be something magical about the air in Jackson Hole. The CBs think that they can inflict 1,000 rises (cuts) in the economy.
It is guessed that a rate of about 2.75% will be adequate to bring on the meltdown.

The State has a new target in it's sights to squeeze for taxes, http://www.businessinsider.com/why-h...e-taxed-2015-9
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Old 11-15-2017, 03:47 AM
Danny B Danny B is online now
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Lotsa charts,,,, more warnings

Nothing much dramatic going on at the moment.
I love charts. This article has lots of them. I tried to link to 3 of them but, each url was about 300 lines. The graphs compare lots of important stuff.
This article also has lots of charts and graphs. Just fascinating.
Both articles show how much worse things are getting in the markets. It's up to you to decide when the bubbles will burst.

A few months ago, the FED issued a warning about credit card debt being extraordinarily high. Now, they are releasing a warning about household debt.
The Fed Issues A Subprime Warning As Household Debt Hits A New All Time High | Zero Hedge
" As of September 30, 2017, total household indebtedness was $12.96 trillion, an increase of $605 billion from a year ago "

"According to the Fed's website, "it was created to provide the nation with a safer, more flexible, and more stable monetary and financial system."
All that flexibility has brought instability. More great charts, https://econimica.blogspot.gr/2017/1...destroyed.html

In case you were worried that we wouldn't have enough wars, the muzzies will come through for you.
"Because the Syrian government wants to evacuate all jihadists to Idlib, this will present a problem to Turkey which it borders. The Syrian state has offered to give the jihadists safe conduct and let them go to Idlib."
"The majority of these militant fighters appear to belong to the al-Nusra Front. These terrorists are well armed and have between 30,000 and 50,000 tanks. They also have missiles, chemical weapons, and other assorted war equipment."
"Under Trump, the USA has agreed with Russia that Idlib needs to be cleared by al-Nusra terrorists. There is a serious cooperation between Russia and the US regarding Idlib"

"In a country known for being an irony-free zone, it’s also interesting to observe how the obsession with hitting Iran is a vicious circle or a sword which the Saudis have slowly lowered themselves onto ; Saudi Arabia’s meddling in the region has only made Iran and Hezbollah stronger in the last five years. "
"They both now look at Hezbollah in Lebanon and see a war which could hurt the Shiite group could be a major victory to re-write the history books."
"And MbS (Salman) is credited as being the “architect to Saudi Arabia’s oil policy” which reveled in the over-production of oil, leading to rock bottom prices today as it was his idea to counter US fracking companies. Another bullet. Another foot. Another spasm of delusion and denial."
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Old 11-15-2017, 04:04 PM
Danny B Danny B is online now
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The progress of the Fourth Turning

History is our guide. Weapons change but, human nature does not. Strauss & Howe wrote, Generational Turnings. Burning Platform writes about the Fourth Turning.
This is part one. You just need to read the first paragraph to see where we are, https://www.theburningplatform.com/2...ourth-turnings

Part two;
"This is no time for apathy and complacency. For those who grasp generational theory and the cycles of history, the seemingly unbearable slowness of this Fourth Turning is actually a blessing. The slowness allows more time to prepare. If you haven’t prepared for the coming saecular winter, time is growing short. The skies are darkening. Our rendezvous with destiny awaits."
"The most important point to comprehend is the death of the existing social order always occurs during the course of a Fourth Turning. "
"It is clear they have reached the peak of financial manipulation, money printing, and artificial interest rate suppression. The narrative is faltering."
"The time for compromise is long past. There are no moderates left in the political spectrum. The mood of the country is clearly trending towards conflict. Trump, as the grey champion of this Fourth Turning, has proven to be a lightning rod of hate. "

" After running a campaign championing a reduction in foreign military intervention in the Middle East, reducing commitments to NATO and increasing cooperation with Russia, it appears Trump has been taken into a room and told the military industrial complex calls the shots. Trump has clearly made a self-preservation decision to avoid being JFK’d."

"Geopolitical tensions have been rising dramatically over the last few years, with religious extremism, oil, petro-dollar, historical rivalries and nationalism driving the world towards conflict. These extreme economic and geopolitical stresses are coinciding along the same timeline and will erupt simultaneously, catalysing the climactic half of this Fourth Turning."
"Mixing religious extremism, oil riches, gas pipelines, opium, egotistical dictators, nuclear bombs, hatred and territorial ambitions into the deepening militaristic global mood change is destined to spark a chain reaction of unintended consequences and unyielding responses. The next Middle East war will not be a proxy war. It will be a fight to the death."

"Peace and compromise are out of the question at this point. It’s just a matter of who pulls the trigger to kick off the fireworks. It looks like Saudi Arabia is willing to gamble everything on a final showdown with Iran."
"The EU is falling apart, as debt creation has failed to revive economies, governments are bankrupt, Muslim hordes destroy their social fabric, and a revolutionary spirit is in the air. Germany, France, Sweden and most of Europe have signed their own death warrant by allowing their countries to be invaded by millions of young Muslim men intent on destroying their way of life."
"War will either be the trigger for the forthcoming financial crash or a direct result of the forthcoming financial crash. "

"Saudi Arabia is Sunni. That boils down to a separation of church and state. They are fighting the Shiite forces of Iran, which believe that religion should control the state. "

"When the bullets start flying, probably early in 2018, look for rallies in these assets — Treasury bonds, the U.S. dollar and gold, with potential collapses in emerging markets as hot money floods back into the U.S. as a safe haven in a world on the brink of war."

11/15 Richest 1% now owns half the world’s wealth – CNBC Yes but, they can't spend it so, it doesn't circulate.
11/14 ECB propose end to deposit protection – GoldCore Gee, I wonder what they have in mind?
11/15 There’s something weird going on that’s worrying the markets – CNBC ALL of it is weird.
11/15 Reckoning with Bill Clinton’s sex crimes – Atlantic Future history will show that Bill was responsible for at least 100 million deaths. Mostly in Africa.

1/14 Bombshell report confirms US coalition struck a deal with ISIS – Zero Hedge HONESTLY?
11/14 EU countries agree to create a European mega-army – Business Insider YES, and it will be filled with muzzies because they have no affiliations in Europe and will kill as commanded.
11/14 Arab states spent $130bn to raze Syria, Libya, Yemen – Press TV The Shiites and Sunnis really hate each other. Just imagine what they would do to Persians, given the chance.
11/12 North Korea says Trump begged for a war during his Asia trip – Reuters The Military, Industrial Complex can't actually attack NK so, they are trying to goad the cabbage patch dictator into doing something stupid.

Every person on the planet is susceptible to assassination. The MIC makes sure that Trump and everyone else is aware of that.
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Old 11-16-2017, 03:39 AM
Danny B Danny B is online now
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Gary Cohn gets hit by reality

Finance and advertising and lawyers are the main part of the extractive sector of the economy. Lawyers account for sucking up 1.5% of the GDP for mediating fights that they have started. These mega-parasites have sucked dry the producing economy by loading it up with debt. ALL of this was done to save and protect the bankers. The more money that is sucked out for parasites, the less there is for consumption.

"with SocGen showing previously that virtually all the net debt issued this century has been used to fund stock buybacks."
"corporate incentives have been perverted in the past decade, and instead of allocating capital to ensure long-term business growth, companies have rushed to cash out"
"The eagerness to shift incentives away from buybacks to capex is also the basis for much of Trump's economic policy as designed over the past year by his top economic advisor, former Goldman COO Gary Cohn who is the White House Economic Council director. "

Side note, Gary Cohn was born to an Eastern European Jewish family. Cohn was diagnosed with dyslexia at a young age and attended four schools by the time he reached the sixth grade.
In late 2009, Cohn led a delegation from Goldman Sachs to meetings with the government of Greece, which included proposals (that were not adopted) to push debt-due dates far into the future.
In 2010, Cohn testified to Congress on the role of Goldman Sachs in the 2007-2008 financial crisis . Cohn was the CEO of Goldman Sachs

Under the Trump administration Cohn has been cited by the press as a supporter of globalism and has been given nicknames such as "Globalist Gary" and "Carbon Tax Cohn. Critics of Cohn attribute to him an arrogant, aggressive, abrasive and risk-prone. He is the chief economic advisor to President Donald Trump

OK, so Cohn is an uber-banker from GS. Trump may have assumed that he is intelligent and experienced.
"Which is why we were amused to observe the following brief interchange yesterday between Gary Cohn and an audience made up of executives, where in the span of a few seconds Gary Cohn realized that his entire economic policy had been a disaster.

During an event for the Wall Street Journal's CEO Council, an editor at The Wall Street Journal asked the room: "If the tax reform bill goes through, do you plan to increase investment — your company's investment, capital investment?" He asked for a show of hands.

Alas, as the camera revealed, virtually nobody raised their hand. "
"His confusion was understandable: this one simple experiment revealed that Cohn's entire economic policy was a disaster. And while the former Goldman president tried to cover up his disappointment with laughter, the cognitive dissonance between the stated intention behind tax reform, and what it would ultimately achieve, or rather not achieve, was painfully obvious to everyone."
"Unfortunately, virtually no CEOs have any intention of using freed up funds to reinvest in themselves.

Ironically, Cohn's epiphany took place just as tax reform is approaching the final stretch in Congress and it increasingly appears that at least some form of corporate tax cut will be enacted. We say ironically, because the only thing Trump's reform will achieve is to dramatically accelerate recently slowing buybacks, which in turn will push stocks to new all time highs as price-indescriminate CFOs and Treasurers tells their favorite VWAP trading desk to just "wave it in." Which means that the White House paper suggesting corporate tax cuts will boost household income is correct... if it focuses only on the incomes of the richest 1% of households."

BTW, congress is proposing enormous cuts to the safety net and ,,, enormous additions to the MIC. The MIC generally gets it's way.
The Moment Gary Cohn Realized His Entire Economic Policy Is A Disaster | Zero Hedge

The supposed smartest brains on the planet…… Have no clue about real economics
Phuck, he's not even smart enough not to ask these types of questions.
Crude but, accurate,
"...virtually all the net debt issued this century has been used to fund stock buybacks..."
Masturflation: Or how CEOs learned to jerk the dog off to feed the cat.
Killtruck Joe Davola Nov 15, 2017 10:34 AM

The older I get, the more I realize that literally everyone is ****ing incompetent.
It's a miracle we even have a civilization. Every ****ing person, ESPECIALLY those inside the beltway, are so close to being mentally retarded that it's not even worth measuring, and yet somehow they retain the wheels of power.

Just a vast desert plain of ****ing incompetent, good ole' boys and gals, coming in with no money, greasing the skids, and becoming millionaires while in office...just playing the game while the country rips itself to shreds.
They found the ONE jew that doesn't know money.......

Writer: This one simple experiment revealed that Cohn's entire economic policy was a disaster.

The question had nothing to do with economic policy.

The question was: If the tax reform bill goes through….

And their answers were exactly what one should expect, because tax cuts don’t stimulate the economy.

Only new money can stimulate. The existing money cannot even sustain the current economy, because of the interest rate that the current private and public debts carry, meaning more money are being destroyed creating even more scarcity.

There are only three ways that this new money can be introduced to the economy:

1. Public spending
2. Private spending
3. Consumption

And, ideally, this new money ‘spendings’ would needed to be debt free money.
This shows mathematically that the continual payment of interest and compound interest over a longer period of time is practically impossible. And explains why we have economic and social breakdowns.

"scraping_by: Tax cuts to workers stimulate the economy.


So give tax credits to workers, not tax cuts for corporations.

Tax cuts do not work. How can you tell?

Just look at its history:


Page 12: The corporation that repatriated the most foreign earnings, totaling $35.5 billion, for example, cut 11,748 jobs in the United States from 2004 through 2007. Another corporation brought back $9.5 billion, yet cut 12,830 jobs.

Overall, the top 15 repatriating corporations reduced their U.S. workforce despite repatriating large amounts that qualified for the lower tax rate.
And what is this below, but more secret Trade & Banking Moves:

Jekyll Island Treaty (1910)
The London Treaty (1920)
The Second Plan of the Experts (1929)
The Hague Agreement (1930)
The Far East Combined Depositories Agreement (1932 1945)
The Bretton Woods Agreement (1944)
The B.I.S. / Allies Agreement (1948)
The Green Hilton Agreement (1963)
The Schweitzer Conventions (1968)
The Election / Appointment of Sole Arbiter Agreements (1995)
The Washington Panel (1998)
The Treaty for Respecting the Rights (2003)

Back into the trees we go!

"Professor Gerald Crabtree, who heads a genetics laboratory at Stanford University in California, has put forward the iconoclastic idea that rather than getting cleverer, human intelligence peaked several thousand years ago and from then on there has been a slow decline in our intellectual and emotional abilities."

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Old 11-16-2017, 04:09 PM
Danny B Danny B is online now
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Medical costs,,,curse of the CBs.

Don't worry, the MIC is doing OK, House Approves $700 Billion 'Cash Cow for Weapons Companies'
Anyone who is messing with your health or your freedom feels completely justified in charging whatever they can squeeze out of you.
"Americans currently pay $3.4 trillion a year for medical care. We spent more than $10,000 per person on health care in 2016. Those attempting to shop for health insurance coverage right now are understandably experiencing sticker shock with premiums set to rise 34% in 2018. It’s estimated that costs may rise as high as $15,000 by 2023."

"As Bloomberg reports, “Rising health-care costs are eating up the wage gains won by American workers,"
"An examination of an itemized hospital bill (only available upon request) revealed an amazing amount of price gouging. Tylenol, which you can buy for less than $10 for a bottle, was charged to the patient at a rate of $15 per pill, for a total of $345 for a hospital stay. $8 for a plastic bag to hold the patient’s personal items and another $8 for a box of Kleenex. $23 for a single alcohol swab. $53 per pair for non-sterile gloves (adding up to $5,141 for the entire hospital stay). $10 for plastic cup in which to take one’s medicine. $93 for the use of an overhead light during a surgical procedure. $39 each time you want to hold your newborn baby. And $800 for a sterile water IV bag that costs about a dollar to make."
Financial Tyranny: ‘We the People’ Are the New Permanent Underclass in America

A miner in trouble, https://bitcoinmagazine.com/articles...er-1402002877/
Student debt isn't defaulting as badly as other types of debt, Millions Of Millennials Could Be Trading Sex For Their Next Debt Payment - Here's How | Zero Hedge
The Rise Of 'Soft' Prostitution | Zero Hedge

The death of oil isn't going to happen any time soon, http://www.zerohedge.com/news/2017-1...ad-nowhere-why
The oil price and a Saudi - Iran war, https://www.rt.com/business/409905-s...-iran-war-oil/

11/16 Short-seller Chanos adds to Tesla bet, predicts Musk will leave – Yahoo!
11/15 Solar power underestimated by 4,813% in the USA – Electrek Raising the standard of living without using carbon energy.
11/15 Core CPI picks up, giving green light to Fed hike – MarketWatch Cool, we're paying ever-higher prices for consumer goods so,,,raise the interest rate and choke the economy even more.
11/16 Household debt rises by $116bln, credit-card delinquencies pile up – MarketWatch We use credit to survive so, obviously, we can afford higher credit card interest rates.

11/16 Bank deposits no longer off limits as ECB seeks power to freeze – Bloomberg What a surprise.
The BLS claims super low unemployment. They just fudge the denominator and numerator and get what they want.
BUT, the reality still lurks in the markets.
"The issue is central banks and central bankers who have done nothing right, failed to achieve any positive offsets, and left the global economy to stand naked against the intermittent forces (three so far) of negative monetary decay."
The CBs have done everything to preserve the wealth of the banks. The feces-for-brains bankers just refuse to believe that consumption is a necessity. As things slow down in China, they have been "forced" to print ever-larger quantities of money. But, the Chinese can see what is going on and move $1 trillion a year out of the country. China prints ever more to keep monetary deflation at bay. Productivity and exports fall so, China tries to keep all the balls in the air by printing.

Bitcoin and crypto is an attempt to escape from CB control. The CB has always screwed the people.
" If you read the annual reports of the Federal Reserve Board or its testimony before Congress, you will find that as late as 1933, at the very depths of the depression, it’s talking about how much worse things would have been if the Fed hadn’t behaved so well."

Last edited by Danny B; 11-17-2017 at 05:09 AM.
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