After re-listening to speeches by Senator Elizabeth Warren, and Professor Jeffrey Sachs, that were given during the heat of the subprime meltdown, I was reminded why we will crash and burn before any true reform will be proactively implemented. The same pattern of propaganda can be seen in Ukraine, Syria, and Iraq, where the pyromaniac’s in govt call for the US fire department after the US sets the fires.
The path to recovery must start with first acknowledging that you have a problem – and government has a big problem. Unfortunately, we have far too many psychopaths and sociopaths in govt - and the ones that aren’t crazed by power are narcissistic and so full of hubris they are incapable of even apologizing, much less admitting they made a mistake or that govt is the problem. What’s worse is the followers of these self-centered people suffer a cognitive dissonance that’s so severe they will go down with the ship, as if they were Bernie Madoff’s wife.
Business owners are no different from citizens that vote for the politician that will give them the most hand-outs. Like most enterprises, corporations don’t like competition, and many will do anything to gain an advantage, including committing fraud and bribing politicians. Govt doesn’t like competition either, and because they have the most power, those in powerful positions like their perks and power and want to keep it – which leads to even greater abuse.
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Even the most well-intentioned commentators and bloggers are missing the bigger issue surrounding the shooting of Michael Brown in Ferguson, MO. The mainstream media (MSM), the primary propaganda arm of govt, are desperately trying to promote the “race” narrative to distract the masses from the more troubling theme – govt protecting itself from an increasingly plundered populous, due to govt’s “need” to maintain their own jobs, perks, and power. The incidents in Ferguson, Bundy Ranch, and others are nothing more than training missions for what is to come. Just wait until it is exposed that the govt can’t make Social Security, and other social welfare payments; or pensions, IRA’s, and 401K’s get confiscated/bailed-in by an increasingly broke govt as their Ponzi system implodes.
Joe Public, who has kept their head buried firmly in the sand, will finally learn where the anger comes from for so many minorities, and that ignorance really isn’t bliss. Government never looks in the mirror and admits fault. They always defend their self-interest, and will not stop spending other people’s money until the people rise up and force change. Govt is preparing for war against their own citizens, and Ferguson and Bundy Ranch are just drills.
Granted, many blacks get treated like civilians in Syria, Iraq, and the other places where govt’s policies place govt’s interest above all others (especially minorities), but the loss of trust and respect for police and others in govt is coming to a head all over the country, because govt has abused their trust and does NOT equally apply the rule of law. Anyone that has protested govt abuses or challenged govt in court understands the system is rigged in govt’s favor, and the 99% conviction rate of the U.S. Justice (Just Us) system is certainly evidence of the abuse of power (BTW, the 99% conviction rate even surpasses the 90% rate of Hitler’s Peoples Court). When property rights are not protected and justice in the courts disappears, so does the capital needed for growth. The conflicts transpiring across the globe are the result of citizens being suppressed by their govt for the sake of maintaining govt.
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With all of the turmoil in Ukraine, Iraq, and Gaza, the sell-off in stocks over the last couple of weeks is causing many people to ask, is the top in for this Fed-induced bubble? The short answer is NO. The bubble in govt hubris, that is turning the world against us, may have popped, but stocks are not done inflating. The reason has nothing do with traditional valuation methods, or even the Fed. Simply put, stocks will rise due to global capital flows that see no other alternative, at least for now.
As stated on April 5, 2014, the “Jaws of Death” pattern in the Dow (shown below), that was originally displayed on 1/31/2013 , still remains valid. At that time the upper boundary was around 17,000. As the bearish wedge expands, the upper boundary is now closer to 17,200. By the time the bubble burst in 4Q15, the upper boundary will be closer to 17,500. Since final legs can blast through resistance before crashing, making a guess where stocks will top out is about as futile as picking the top of the NASDAQ in Dec, 1999, when it rose another 85% in the final three months.
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If you are part of the propaganda machine that needs war or some other distraction to promote your interest, you might as well stop reading now, since you obviously don’t care about the human suffering and loss of life caused by your lies. You are as hopeless as a psychopathic mass murderer whose actions will never be understood. We can only hope you are continuously haunted by your actions.
If you are unwittingly being duped into supporting the war mongers or some other self-serving issue, I hope you take a few minutes to objectively consider the possibility that you are being manipulated. You should also contemplate the damage being done to the economy and human beings by the actions being taken, and who benefits. If you can’t be bothered to question your biases, then at least default to the most probable source of the propaganda, which is also the same entity behind the problems/crises – government! The purpose of the propaganda, of course, is to deflect blame from their own incompetence and fraud, confiscate more taxes, and acquire more power. Also, you should ask yourself if you are expendable when the SHTF and rolls downhill.
If you need an example of why govt is destroying this country, look no further than the VA scandal. Only in govt can you screw up so bad that you kill people, and then get rewarded with $17 Billion in additional tax payer money, and no one even gets fired, much less goes to jail. Oh, and this just in – the President and CIA Director Brennan swore to the American public that the CIA did not spy on the Senate. Guess what? They lied!!!
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If you listen to the President, UN Ambassador Powers, and the Presstitute media, you should be protesting the US Govt to lead a worldwide boycott of everything Russian, especially oil and gas. Oh ya, our govt is already doing it. Well, then, why not start protesting for the opening of internment camps for every Russian-American? The only thing worse than the predetermined indictment of Putin for shooting down the passenger jet was the bs about Benghazi, Syria, Obamacare, Hope & Change, and the intentionally destabilizing actions of Israel in Gaza (which will be the topic for another day, but would someone at least ask Netanyahu if he is upset at the US for creating Hamas (to challenge the PLO), like it created al-Qaeda to combat Russian aggression in Afghanistan, and ISIS in Syria)?
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THOSE WHO HAVE NO INTEREST IN THE POLITICAL ECONOMY, WILL BE FOREVER RULED BY THOSE WHO DO.
Confusion and frustration over geopolitical and economic events stems from a foundation of intentionally erroneous information presented by the establishment to maintain their power and control. Below I have assembled a few critical sources of information that will begin your process of empowerment.
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First, the govt unleashed Piketty, and now they are calling in a favor from their biggest zillionaire donors, to once again distract the masses from the real source of the economic black hole - govt over spending to protect govt jobs, perks, and power. It’s amazing how the good intentions of zillionaire’s and govt can create so many paved roads to hell. Mr. Hanauer, you are right. The solution will not start in Washington, because no one in govt will downsize themselves as long as their careers are at stake.
I have a much easier solution, Nick. Why don’t you and your zillionaire buddies simply STOP bribing politicians for special tax exceptions, reversing banking laws (i.e. Glass-Steagall) that have already lit a derivative nuclear time bomb, and stop lobbying for anti-competitive laws that have given large corporations unfair competitive advantages, causing prices to rise instead of decline with technological improvements. The healthcare lobby is the biggest example of a fraudster industry that is destroying this country. How, you ask? Spending on healthcare has risen 9.3% per year for over 30 years. Put those numbers in your exponential calculator and smoke it! Combine this increase with Defense spending and unsustainable pension payments, and one can begin to understand how yearly govt deficits (and the accumulated interest payments on the debt) are now consuming such a large percentage of our productive capacity.
Nick, if you really want to help poor Americans and this country, then bring an end to the career politician. If you want real reform to start, and the rule of law to be observed, then fight for term limits. Unfortunately, the only thing that scares a zillionaire more than sheeple brandishing pitchforks, is the rule of law.
The fact that Nick thinks his plan of a higher minimum wage will reduce the demand for govt services is exactly why it won’t happen. The govt will stop anything that reduces demand for its services. However, let’s assume Nick and his zillionaire friends are successful. What makes them think the supply of govt will be reduced with the demand for its services?
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If it feels like your hard-earned income does not go as far as it used to, you’re right! As Mish and Doug Short document, real weekly wages in the US have declined below $677 from $825 in 1973. This is not a misprint or an accident.
I agree with Mish’s causes for this THEFT - the Fed, fractional reserve lending, and government bureaucrats that are more concerned with their own jobs, perks and power. Nixon closing the gold window, removing the constraint on debt creation, was icing on the cake.
There is one more important cause that should not be ignored. Every one of us who has chosen to simply follow the trend or stick our heads in the sand also bears responsibility for permitting our so-called representatives from running roughshod over our rights and sensibilities. As Ben Franklin said, we’ve got a Republic, if we can keep it.
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Politicians needing bankers to finance unsustainable political promises with ever increasing amounts of debt is the second biggest reason we are imploding. The primary reason we will implode is because politicians can never admit they are wrong, which is why the ECB just “officially” imposed negative interest rates to force people out of savings and into riskier or hard assets that they will lose (again) to the politically connected class. The US will do something similar to protect their govt jobs/perks/power when the NSA’s attempt to track down money only drives it further underground. Yes, the collection of everything on everyone, including the capture of faces and facial recognition is all about collecting money for a broke govt and identifying who is protesting against intrusive govt, which your govt wants to classify as domestic terrorism, and calls whistleblowers traitors and cowards.
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When you read the headline, “U.S. says 77,000 banks, firms sign up to fight tax evasion“, what comes to your mind? Do you think like a bureaucrat, believing we can now get those tax-dodging rich people? Before providing some additional background on this devastating, brain-dead law that is already negatively impacting global trade, answer these questions:
- Do you think every American that has a foreign bank account is trying to evade taxes?
- If American businesses and individuals working abroad are trying to evade taxes, or simply trying to minimize them, what do you think they will do with their money now?
As the article mentions, “foreign firms that do not comply with FATCA face a 30 percent withholding tax on their U.S. investment income and could effectively be frozen out of U.S. capital markets.” Even though the enactment of this law was just delayed by a year, likely because they realized the harm it is already causing, most international banks are already refusing to open accounts for Americans to avoid the headaches and potential fines. Instead of the money being available for capital loans and other investments that would drive business and job growth, the money is going to be sunk into high-end real estate, diamonds, art, precious metals, and in private vaults to get it off the grid.