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Showing posts with label Economic Collapse. Show all posts
Showing posts with label Economic Collapse. Show all posts

Friday, March 20, 2020

COVID-19 and the Loss of Liberty

Justin Smith contends much of the economic/financial difficulties America is facing is less from the Coronavirus and more from Big Government intrusion into markets at home and abroad. The Pandemic is merely the straw utilized to crush the economy. The crush is bringing forms of Anti-Liberty solutions robbing freedom to favor government control of people’s lives. THINK OF THAT when the government tells you what to do and where you can go with the OR ELSE insinuation of martial law.

Communists should be pleased as Americans are tricked out of Liberty again.


JRH 3/20/20
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BLOG EDITOR (In Fascistbook jail since 1/20/20): I’ve apparently been placed in restricted Facebook Jail! The restriction was relegated after criticizing Democrats for supporting abortion in one post and criticizing Virginia Dems for gun-grabbing legislation and levying protester restrictions. Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me completely. Conservatives are a huge portion of Facebook. If more or all Conservatives are banned, it will affect the Facebook advertising revenue paradigm. SO FIGHT CENSORSHIP BY SHARE – SHARE – SHARE!!! Facebook notified me in pop-up on 1/20/20: “You're temporarily restricted from joining and posting to groups that you do not manage until April 18 at 7:04 PM.”
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COVID-19 and the Loss of Liberty  
America Trends Towards Martial Law

By Justin O. Smith
Sent  3/20/2020 1:10 AM

"One detects a pattern in American politics: Every challenge is a crisis, every crisis is a Moral Equivalent of War, and winning that war, we are told, means giving the Left everything it demands, without opposition and generally with no regard for the Constitution, process, or democratic norms."  ~ Kevin D. Williamson, Fellow at the National Review Institute [Quote: “MEOW, They Roared;” National Review; 3/13/20 12:09 PM]

Hard as it is to imagine, many people are buying the current propaganda being generated by the World Health Organization, the Trump administration and governments around the globe, as some, such as Greg Gutfeld of Fox News, are agreeing that this COVID-19 scare is tantamount to a war against an unseen enemy, after President Trump declared a national emergency on March 13th and later essentially called himself "a wartime president". COVID-19, as bad as it is, is nowhere close to visiting the horrors of war on America, that the world saw during the invasion of Normandy during WWII, when 10,000 men were wounded and killed. And far more than the severe and highly dangerous and deadly pandemic COVID-19 has been painted to be, it is actually serving as cover for the greatest economic collapse in U.S. history, a global collapse in fact, and an excuse to go full steam ahead with a Modern Monetary Theory that facilitates out-of-control spending and printing as much money as a nation wants, along with passing any new "law" that ensures public compliance with everything to follow this complete reset of the global order and a loss of liberty.

America is being told it now faces a "serious and deadly" COVID-19 outbreak, that has only resulted in 88 deaths in the country, so far, and that is terrible to hear on any day, and especially so for the family members; but, COVID-19 isn't any greater a threat or more virulent or deadly than the yearly influenza virus this flu season. And yet everywhere in the nation, America is being placed in quarantine by way of arbitrary commands and unconstitutional orders, similar to the likes of those that were contrived, connived and agreed upon by President Trump and the Democratic Party tyrant wannabe, Governor Andrew Cuomo, for the State of New York, while the national guard is preparing for "urban lockdowns" in several states, through heavy-handed and oppressive social and economic control [some refer to it as "soft tyranny"], even though the worse case scenario that predicts millions of deaths in our country will NEVER happen, unless the sun suddenly doesn't rise bright in the morning.

The current "pandemic" is just the latest "enemy of the state", that is being manipulated by the U.S. federal government emboldened over the past three decades and more willing now than ever to fabricate fear to secure a political end. Political ends are always about greater control, corruption, and too often hiding government wrongdoing, cover-ups. [Blog Editor: Bold emphasis mine]

Once upon a time, Frederic Bastiat, the magnificently profound philosopher, noted: "The politician attempts to remedy the evil by increasing the very thing that caused the evil in the first place: legal plunder."

Just recently, the Federal Reserve Bank approved $1.5 trillion more to bail out the Repurchasing Markets, bringing the total to approximately $5 trillion spent since September 2nd 2019 to essentially cover the massive leverage built by banks and hedge funds again, the same exact bad practices that led to the economic crisis of 2008; and, despite President Trump's assurances that corporate America isn't to blame this time. This is the equivalent of adding $40,000 more in taxpayer debt to every American household. And it went unnoticed by ninety-nine percent of America.

It is important to note here, that the Fed began its second epic "bank bailout", another massive theft and transference of wealth, on September 2nd, and so, from that alone, it should be readily apparent that the current financial crisis has absolutely nothing to do with the COVID-19 virus, although the current charade is certain to exacerbate it and make the crisis deepen, providing all the excuse the government needs to continue to suppress our individual liberty along the way.

On March 16th, the U.S. stock market suffered its worse point loss in U.S. history, as the Dow Jones Industrial Average took a loss of nearly 3000 points and wiped out all gains in the last three years. Its 12.93 percent loss was greater what we saw on October 28th 1929 when the Dow lost 12.8 percent, but it is only the second greatest percentage loss in U.S. history, far from the 22.6 percent loss of Black Monday, October 19th 1987

Although we could not have predicted COVID-19, it was only the trigger for the ongoing financial crash, the proverbial straw that broke the finance sector's back. With asset price bubbles across the world and the total global debt over 322 percent of the world gross domestic product in the third quarter of 2019, something was certain to break, and we are seeing the results now.

On March 17th 2020, Pam and Russ Martens, financial experts, observed: "And yet no matter what pundit you see on TV, all that one hears is that Wall Street banks have plenty of capital. These two things cannot be simultaneously true: the Fed cannot have had to be pumping hundreds of billions of dollars each week into Wall Street banks and their trading arms for the past six months (long before there was any coronavirus outbreak anywhere in the world) if these banks actually did have adequate capital."

Despite all the blame being laid upon the COVID-19 outbreak, one must note that over a century ago, in 1918-19, a true pandemic and epidemic of the Spanish flu created chaos, as 500 million were infected worldwide and 50 million people died from the virus, and approximately 675,000 of those deaths were Americans. And even though this pandemic was the deadliest in history, the Dow Jones rose throughout the year from 76 to 81. Now isn't that interesting? 

Once again, I iterate the fact that our leaders are further destroying the economy, by printing trillions of dollars more, and throwing good money after bad without any sound reason, other than corrupt politicians and bankers are benefiting and pocketing massive amounts of real asset wealth that will be seen in catastrophic retail inflation, similar to 1923 Germany, and later tax rate hikes for the average taxpayer on down the road, especially if a 1929 credit collapse is currently underway.

If any government assistance of any kind is distributed, it should be given to the elderly and those with the most severe symptoms and reactions to COVID-19, not just handed out like a security blanket to everyone and anybody; however, on March 14th, the House passed the Families First Act that offers two weeks of paid sick leave to COVID-19 victims, paying their entire salary up to $511 per day (approximately $130,000 a year). And ironically and typical for our corrupt government, large companies with over five-hundred employees are exempt. 

As I have stated in other articles, President Trump believes he has no real choice except to be seen acting proactively in the face of COVID-19, no matter the unintended consequences of those actions, as he also deals with the very real and separate crisis of an economy under threat of a massive collapse. However, the guidance he has set in place and his tacit support of the continued fear-mongering by advisors, such as Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, is giving rise to many egregious and tyrannical local responses, all from his own fear that he cannot get re-elected, unless he rolls with the current Deep State project, postures for political gain and allows our Bill of Rights to be trashed in the process.

There is not any federal authority in existence than can legally force everyone across the nation everywhere to stay home and self-quarantine or "Self-isolate", however, federal powers combined with extensive state and local emergency powers can and are, essentially effecting a national shutdown, as we also find the largest corporations, like Amazon and Nissan and many others operating in the U.S., now going along with the suggested two to three week closures, or restricted operations. This is forcing millions of Americans to stay at home, sick or not, when millions are one paycheck away from homelessness and other catastrophes that go hand-in-hand with financial ruin; this applies equally to small businesses too.

And yet, all across America we see a new trend, whereby military and police now act as if America is under martial law without a formal declaration of such. Many states, such as New Jersey, California, Ohio, Illinois, Massachusetts and Washington, have already taken unconstitutional martial law measures without an official declaration, exhibiting our potential unconstitutional future under any new fear, real or imagined, once this crisis has passed. 

Americans are being forced to stay home by New York Governor Cuomo, if they are not deemed "essential workers". He has issued an arbitrary, selective and unconstitutional executive order that requires companies to send fifty percent of their people home to "Self-isolate". Well, don't essential workers get sick? What's the difference, when there isn't any "cure" and the only recommended treatment is identical to what one would do with the common cold?

Worse yet, according to Fox 5 San Diego, on March 19th, the Governor of California, Gavin Newsom, issued a "stay at home" order effective immediately and to remain in place "until further notice". And, in clarification, Fox 5 also reported, "Everyone is required to stay home except to get food, care for a relative or friend, get necessary health care, or go to an essential job." 

San Francisco has ordered county and city law enforcement to "ensure compliance" with its recent "shelter in place" order, prior to Gov. Newsom's order, although officials stated they would not "rush to enforce" the directives, while residents were fully informed to what is permissible. Any violation of the orders will supposedly be considered a misdemeanor punishable by a fine or jail time. 

One certainly cannot help but wonder, who will be the first American arrested for violating a "stay at home" or "shelter in place" order?

On March 12th in Champaign, Illinois, Mayor Deborah Feinen declared a state of emergency due to the COVID-19 outbreak granting herself the power to ban firearms, alcohol and gasoline, during the "crisis", along with the power to prevent individuals' from accessing gas, water and electricity, and even to take possession of private property, according to the Washington Examiner.  

The Mayor of Nashville, TN, John Cooper, not to be outdone by anyone, ordered bars on Lower Broadway and  throughout Davidson County to close their business, on March 15th, until further notice. All restaurants were told to limit their maximum seating to fifty percent of available seated capacity, all of which is absolutely in violation of the spirit of our Declaration of Independence and the pursuit of life, liberty and happiness and the Constitution itself. The orders are certain to be met with challenges along the way, such as already presented by the owners of Tootsie's Orchid Lounge, Honky Tonk Central and Kid Rock's establishments, who called Cooper's orders "unconstitutional", as they vowed to remain open until Governor Bill Lee issues a statewide mandate. 

Nashville's Downtown Merchant Association responded to the rise of unconstitutional orders across the country, in part, with the following statement: "We are compassionate with those who have contracted the COVID-19 coronavirus and all who are helping manage the crisis as the entire world addresses the outbreak. However, a Tootsie's patron as immediate as last night, mentioned having lived through the polio epidemic and didn't recall such extreme measures being handed down in history." 

In one breath the government tells us all to stay home for two weeks, and in another they disingenuously claim there isn't any reason to hoard anything. But just how are Americans then expected to survive, if they don't stock up for what could extend into eight weeks or longer?

Political posturing is the rule today in our polarized country, as politicians go through the motions of a contrived COVID-19 crisis. Political concerns seem to be more important than what is the best course for everybody's health and finances, in their fear that a refusal to shut the nation down will result in blame for every death being blamed on their political inaction. And there will be a steep price to be paid, at the expense of our individual liberty. 

Nobody really knows how deep and harsh this will get, and just maybe those who do have an inkling aren't sayin', but it goes without saying that a good deal of disorder will come of this ordeal. One must wonder what America looks like in the aftermath, once all the dust has settled. 

Former Congressman and Presidential candidate, Ron Paul, wrote the following on March 16th: "Governments love crises because when the people are fearful they are more willing to give up their freedoms for promises that the government will take care of them. After 9/11, for example, Americans accepted the near-total destruction of their civil liberties in the PATRIOT Act's hollow promises of security.

It is ironic to see the same Democrats who tried to impeach President Trump last month for abuse of power demanding that the administration grab more power and authority in the name of fighting a virus that thus far has killed less than 100 Americans." 

Our Constitutional Rights have steadily been attacked and eroded for decades now, but especially so with the PATRIOT Act and the FISA Reauthorization Act, but if anyone thinks the U.S. federal government has trashed their rights, just wait. The worse is yet to come. 

Every current action being taken by Congress is to save Wall Street and the mega-corporations who control it, while President Trump and his administration follow the exact same playbook from the 2008 economic collapse, as the average Americans lose jobs and watch their 401k portfolios wiped out for the third time in the last two decades. Main Street is once again getting the worse end of any deals coming out of current legislation, as the Zero Interest Rate Policy harms senior citizens' retirement funds, while the propaganda from the media continues to move the most ignorant masses within the nation to beg the government, their "Keepers", to save their lives. Critical thinking Americans have already concluded that their elected and unelected government officials -- so-called "leaders" -- have once again proven themselves to be incompetent, corrupt and evil. 

More than any threat from any virus, Americans should worry for the cause of liberty in our country, as we see our government evolving into a thing far too willing to take control over every segment of our lives and imprison us, if we do not comply with their fiats and diktats. Liberty faces a very real threat from the socialists and communists of the Democratic Party, who urge a far too willing President Trump for more dictatorial measures in the face of a manufactured crisis, as the CDC pulls the wool over the nation's eyes and our massive debt seems poised to come crashing down like an avalanche, while the Federal Reserve continues to act like a whore for the Wall Street bankers; and, in the meantime, the nation is mere steps away from military vehicles patrolling our streets threatening citizens with arrest or death, once the current social order begins to be swept away, as decades of thievery, corruption, lies and corporate fascism come crashing down. And, if America is still strong enough to face the gravest of consequences, the wheat will be separated from the chaff and those proponents of truth, life and liberty will pick up the pieces and determine the future of this America I love so well. 

By Justin O. Smith
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BLOG EDITOR (In Fascistbook jail since 1/20/20): I’ve apparently been placed in restricted Facebook Jail! The restriction was relegated after criticizing Democrats for supporting abortion in one post and criticizing Virginia Dems for gun-grabbing legislation and levying protester restrictions. Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me completely. Conservatives are a huge portion of Facebook. If more or all Conservatives are banned, it will affect the Facebook advertising revenue paradigm. SO FIGHT CENSORSHIP BY SHARE – SHARE – SHARE!!! Facebook notified me in pop-up on 1/20/20: “You're temporarily restricted from joining and posting to groups that you do not manage until April 18 at 7:04 PM.”
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Edited by John R. Houk
Embedded links and text embraced by brackets are by the Editor.

© Justin O. Smith

Tuesday, November 19, 2019

America's Economy at the 11th Hour


Republicans tend to report to constituents on the economy as look at we are doing now and Dems report on the economy in terms imagine how your life will be when we manage the economy. Neither the GOP nor the Dems look at current economic warning signs with the lens of history and potential disastrous future economic outcomes. Conservatives looking past the “now” view current tendencies coupled with past mistakes potentially leading to future economic disaster.

I don’t see policy changes from either Republicans or Dems, but I do see political exploitation from both sides to extract political votes to control government. So I wonder … What is your best Liberty position under whoever succeeds in a government-tyranny of the majority election?

I certainly don’t want to live under a government that tells me how to live, think and believe (ahem Dems). I will not be pleased living free but wondering about my well-being in nourishment and quality of economic life (ahem Republicans). Is there a third path of Liberty and well-being for an American to vote? Unfortunately not in today’s viable political choices. In my opinion that MUST CHANGE. Until then, I’m voting President Trump for the best possible Liberty in November 2020.

JRH 11/19/19
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America's Economy at the 11th Hour
America's Economic House of Cards - America's Economy Pushed Beyond Reality 

By Justin O. Smith
Sent 11/17/2019 10:43 PM

"We are living in a system of the banks, by the banks and for the banks, and that is the reality ....." ~ G. Edward Griffin, author of 'The Creature from Jekyll Island'   

"The Best Economy Evah" is the constant mantra we hear from the Trump economic experts and Larry Kudlow, President Trump's Director of the National Economic Council, and yet, it is hard to ignore the warning signs that something isn't quite right with this economy. Despite unemployment purportedly at an all-time low and the stock market riding high, the Federal Reserve Bank is still printing between $80 to $100 billion a day, after stating two months ago that this action was only going to be necessary for a few weeks, as they increase their own balance sheets by $200 billion since September, through Quantitative Easing on steroids, and more rapidly than they did at the height of the 2008 economic crisis when the amount of dollars in circulation doubled from $880 billion to $1.76 trillion.  

The mainstream media and investors tend to focus on these statistics, despite the manner that allows them to be most usually and easily manipulated. If one points to the recent collapses in some sectors of manufacturing or the explosion in consumer and corporate debt, the ready retort is always "But the stock market is at an all-time high". The average person ignores the fact that stock markets are meaningless trailing indicators, and they also ignore the fallacies surrounding the GDP numbers and the tens of millions of jobless people not included in the unemployment numbers, for any number of reasons.  

The Federal Reserve repossession market purchases continue to run in high demand, and this in turn has tightened corporate cash flows to a near standstill. We saw something quite similar just before the credit crisis hit in 2008.  

The recent increase in consumer spending is also deceptive, since it doesn't necessarily indicate people are buying more goods or have more disposable income. If one views the steep declines in traffic and goods shipped via the trucking and railroad freight systems, it becomes more readily apparent that we are in the throes of inflation, as the cost of living increases and the people spend more on the same amount of goods, being bled dry along the way.  

The Federal Reserve has cut interest rates three times this year, including the 0.25 percent cut at the end of October. Federal Reserve Chairman, Jerome Powell, noted this move was made to "provide some insurance against ongoing risks".  

These are actions taken by a central bank when an economy is weak.  

The Federal Reserve's decisions directly affect the prices of everything on the planet, because the U.S. dollar is the world's dominant reserve currency, dictating one's salary, interest rates on loans, home values and all other assets, goods and services. They recently acknowledged they were in uncharted waters.  

On November 13th 2019, Jerome Powell told Congress that economic conditions are totally unprecedented, and he added that his committee has "significant humility" because so many of their basic assumptions have been wrong. He also stated that the Fed was attempting measures that have never been previously attempted, in order to correct and balance the economy.  

America's most vulnerable people today are the fifty-three million workers, forty-four percent of the workforce between the ages of 18 and 64, considered low-wage and low-skilled workers. And according to a Brookings Institution report, most of these people make considerably less than $11.00 an hour, and they are stuck in an economy where short term contracts and freelance work are prevalent and permanent jobs are not as plentiful as advertised by political rhetoric, with median annual earnings of only $17,950.  

An overwhelming number of these people currently find themselves unable to pay their loans, whether those are for cars, college tuition or credit card debt. They will be hit hardest during the next recession.  

Looking at the "Big Picture", the federal government's October budget deficit has the U.S. on track to a one trillion dollar deficit, possibly larger, in fiscal 2020, largely due to the penchant Democrats and Republicans alike have for out-of-control spending. Our budget deficits began rising again in 2016 and have risen for four straight years, and a combination of tax cuts and spending is pushing the deficit to take five percent of our Gross Domestic Product, by next September, topping $1 trillion for the first time since 2012. For the first time in history, deficits topped $1 trillion each year from 2008 to 2012, in the aftermath of the Great Recession.  

And this also ignores the manipulation of the GDP numbers. Fancy accounting omits taxpayer dollar expenditures on inflated programs and Obamacare, and according to many experts, the U.S. GDP is actually in the negative. However, even government figures show official GDP growth in decline at 1.9 percent and below the projected three percent growth for this year.  

Massive U.S. consumer debt, both government and private, now totals over $14 trillion, with our national debt at $22 trillion, and this places tremendous pressure on the Federal Reserve to keep interest rates low and even experiment with negative rates; however, the Federal Reserve can only keep the price of money artificially low for so long without serious consequences. And in the meantime, it is in a panic to prevent an economic crisis more severe and catastrophic than seen in 2008.   

Very similar to the insider buying schemes that centered on the 1929 stock market crash, in recent history, the money elites are still prone to engineer economic disasters while deliberately hiding the real statistics from the public, in order to benefit from their insider knowledge and pick stocks up for pennies on the dollar, a federal crime by the way that they seem willing to commit with abandon. They also use economic crises, such as the one impending, to change the power structure in the nation, or the world, just as FDR did through the New Deal, something that may not have been created otherwise.  

It's either this, or some of them truly believe the answer lies in doing more of the same, by once again pumping trillions into the banking sector as was done in 2008 to 2012, freeing even more lines of credit. Essentially, it seems as though some may really believe in Keynesian economics and the notion that an economy can be grown and expanded through more debt, thus saving the system and America from suffering.  

More often now, in an attempt to stave off the approaching catastrophe, America hears bankers advocating for universal incomes and making way for "green deal" investments and many different short and long term economic stimulus packages, while the global and U.S. economy are slowing and grinding to a halt. The Federal Reserve sees the only solution as doing more of the same by way of various forms of Quantitative Easing, in order to avoid riots in the street.  

I'm no prophet of doom, but I do believe in taking a realistic look at all matters, including our economy. If our economy is not on the verge of collapse, why has the Federal Reserve, the central bank, been buttressing it for the past decade? How much longer can the Federal Reserve continue this practice and how much longer do they actually want to do so? What if allowing the entire house of cards to fall benefits them, just as it has in past similar situations?  

Currently the top ten percent of Americans are living large, prospering greatly from the Federal Reserve's government bubble scheme and President Trump's stock market pumping on Twitter, and they have amassed hard assets in gold, silver, real estate, factories, tools and food supplies, with the certain knowledge that everything based on paper and debt will collapse soon. They will pick everything up for pennies on the dollar, just like 1929 all over again.  

They know it's on the way, the collapse. So, what is the Big Plan of the Bankers?  

Our central bank and its owners see the U.S. financial system once again on the verge of collapse and a system of inflation that cannot be sustained forever, since all systems of exponential growth are always doomed to collapse. Our system entered the surreal whenever it started working with numbers in the trillions, just as Elizabeth Warren, Democratic Presidential candidate, easily and nonchalantly as though it were nothing, bandied about a $52 trillion number to front her agenda if elected, and America is at the breaking point as She is being purposefully pushed beyond reality.  

The Federal Reserve Bank and its private concerns and board members understand the dynamics better than anybody, so they must believe the end to be near, along with those of us paying attention, who can very nearly see and touch the coming end. And on the last day, the Big Banker Bandits will grab all they can in their desire to safeguard their own financial situation and be secure, as hell unfolds for everyone else; so in the meantime, they are going for broke, because they know the system is broken and little remains to fix it.  

The only real fix will come whenever America returns to a truly free capitalist economic system, unseen in America since 1913 and even less so after FDR's New Deal hit the government. And, as our artificial economy continues to fail and the wealth inequality gap swells, America finds Herself at the 11th hour and an awakening that will ignite the auto-correction of our system and the wealth inequality imbalance, along with major protests in the streets of our largest cities, much like we now see in Chile and elsewhere, and a revolution focused on eradicating the Federal Reserve Bank and arresting and prosecuting those un-elected officials who have raped, pillaged and ruined the U.S. economy, enriching themselves at the expense of most of America.  

By Justin O. Smith
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Blog Editor: Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me. Recently, the Facebook censorship tactic I’ve experienced is a couple of Group shares then jailed under the false accusation of posting too fast. So I ask those that read this, to combat censorship by sharing blog and Facebook posts with your friends or Groups you belong to.

I got this message from Fascistbook (11/13/19):

“You're temporarily restricted from joining and posting to groups until November 20 at 7:05 PM (We’ll SEE).” So PLEASE SHARE. My Conservative voice is currently in a restricted Facebook jail.
___________________________________
Edited by John R. Houk
Justin Smith and the Editor provide source links.

© Justin O. Smith


Friday, July 26, 2019

Trump-Pelosi Budget and Fiscal Sabotage



I have to be honest. Working with the reality of numbers often hurts my brain. I’m not good at. Justin Smith seems to have a great grasp of number realities when it comes to deficit spending, the National Debt, Gross Domestic Product and the need of a Balanced Budget.

Justin is displeased with the results of the Trump Administration/Pelosi budget agreement and urges a Presidential veto. No matter how much the numbers are painful, the inevitable result will be catastrophic if this Federal accounting disparities continue.

However, the realities of America’s political divide demonstrated by near even splits of opposing ideologies in Congress means neither the Socialists nor the fiscal Conservatives will get what they want. Perhaps an idiotic budget compromise keeps the government operating rather than frozen. EVEN THOUGH it’s doom and gloom, if voters DO NOT opt soon for fiscal responsibility a national catastrophe will occur.

Trump’s hands are tied by political realities, if voters want a different outcome untie divisive politics – OR ELSE.

JRH 7/26/19
Your generosity is always appreciated: 


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Trump-Pelosi Budget and Fiscal Sabotage
A Coward's Financial Agreement

By Justin O. Smith
Sent 7/25/2019 7:06 PM

A coward's financial agreement is the phrase that best describes the budget deal recently agreed upon by President Trump and Speaker Nancy Pelosi, that just passed the House with a vote of 284 to 149 at 2:14 CST on July 25th, since it avoids any real battle over government spending by suspending the debt ceiling until July 2021. It raises spending caps and lifts the debt ceiling in the name of avoiding a fiscal crisis, but in reality and ignoring any lessons from 2008, this explodes U.S. debt in a way never seen in U.S. history, and it exhibits President Trump's willingness to meekly surrender to another massive expansion of the federal budget, that creates a short term political "win" for the DC Establishment of both parties and a long term loss for the American people. 

This deal received 65 Republican votes, and it spends $2.7 trillion over the next two years. It commits President Trump to signing spending bills that add $320 billion above spending limits set in a 2011 agreement that established automatic spending cuts. This Pelosi Dream Deal also says there will be absolutely no limit on how much new debt the federal government can accumulate between now and July 31rst 2021. 

The Washington Post was absolutely correct, when it recently wrote that the budget and debt deal would not contain actual spending cuts, since the $150 billion in new spending cuts demanded by White House budget director Russell Vought soon materialized as only [about] 70 billion in actual cuts, that don't go in effect for ten years and are likely to be reversed by Congress at a later date. This marks a retreat for the White House.

Reported by the Wall Street Journal, Maya MacGuineas, president of the Committee for a Responsible Federal Budget, stated on July 22nd: "This deal would amount to nothing short of fiscal sabotage." [Blog Editor: I found quote at USA Today]  

And yet, rather than debate the most serious issue of the day and seek real solutions, the cowards of both parties hid behind "bipartisanship", in an erroneous, corrupt and wrong-minded fashion, and cooperated to serve their own personal political interests, as DC's supposed "elite" elected class. 


Incredibly, the federal government spent $3,355,970,000,000, in the first nine months of this fiscal year, while running a $747,115,000,000 deficit. President Trump's Treasury is currently issuing U.S. dollars faster than it did in fiscal 2009 -- even when adjusted for inflation -- when President Bush signed the bailout legislation for failing banks and President Obama signed a Stimulus bill focused on ending our economic recession.  

Noted by The Hill, grave concerns on the economy were expressed by the Congressional Budget Office on July 23rd [Blog Editor: I could not confirm a 7/23/19 date, the links in thos paragraph relate to a 6/25/19 date], and the CBO wrote in its budget projection that U.S debt is on track to increase from 78 percent of the GDP to an "unsustainable" level of 144 percent of the GDP over the next thirty years, even if spending caps aren't lifted and taxes are raised. Now, with the passage of this bill, we are on track to see the debt rise to 219 percent of the GDP, unless President Trump can be persuaded to send the bill back with a demand that more actual spending cuts must be made.

Representative Chip Roy (R-TX) was upset with President Trump for negotiating through Treasury Secretary Steve Mnuchin, rather than Office of Management and Budget Director Russell Vought. As reported by the Wall Street Journal, Roy exclaimed, "The president should be listening to (White House Chief of Staff) Mick Mulvaney and Russ Vought, and he should not be listening to Steven Mnuchin, period." Roy added that "Senate Republicans will never find a corner where they can go and hide", implying that Senate Republicans are untrustworthy regarding fiscal responsibility.  

Once consumed by fiscal worries, this coward's agreement is one more sign that makes it more than clear, both houses of Congress and both the Democratic Party and the Republican Party have become Big Spenders, and Congress is no longer concerned about the extent of the budget deficits or the debt they add. The DC Establishment no longer cares, even as our national debt hits one trillion annually and rapidly approaches $23 trillion.  

According to the Washington Post, Senate Majority Leader Mitch McConnell (R-KY) recently stated: "Nobody has lost an election by spending too much money", in regard to Chief of Staff Mick Mulvaney's effort to pay for the spending deal.  

After the last massive spending deal, President Trump vowed never to sign another one. And yet, here he is again, at the ready and far too willing. He just keeps confirming to the American people that he really is a Big Government Guy and a Big Spender.  

Today, America barely hears any objections over the exorbitant debt. When Trump campaigned in 2016, he bragged about his ability to prosper from his own debt. He told CNN, on May 4th 2016: "I'm the king of debt. I love debt." ... adding the next day ... "if the economy crashed, you could make a deal ... if the economy was good, it was good ... you can't lose." 

But that's not just the reality of matters for most Americans who live paycheck to paycheck, and it is just not smart for anyone or any nation to accumulate debt; at some point another bubble will burst in our economy, since Wall Street hasn't stopped any of the bad business practices that caused the 2008 crisis. And, an economic collapse of 2008 magnitude will pale in comparison to the coming economic catastrophe that deals such as this one are sure to create. Most of our national debt has been monetized, and any bailout for the American people will be virtually non-existent.  

Niall Ferguson, senior fellow at Stanford University's Hoover Institute, has warned that empires fall when interest on their debt equals what they spend on defense. According to the Office of Management and Budget, this will happen around 2024. If interest rates increase, it could arrive much sooner. 

Unfortunately, America is currently a nation focused on instant gratification, selfishness and greed, and seems oblivious to the dangerous path it is on. Whether or not the nation can afford all the current government benefits, plus the desired additional costs of free university educations and free healthcare for all, and even though our credit card is maxed out, Americans seem intent on voting for politicians who promise to borrow money to give them what they want.  

Everyone would do well to recall that in Psalm 37:21 it says, "The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth."  

Noting that Congress's out-of-control spending "is ripping off the American family", former Congressman Dave Brat recently delivered the following observation to Tony Perkins at Washington Watch, as he looked across the Atlantic: "There's evidence you can be pathetic for a long time. And the evidence is called Europe. ... eventually ... debt will impinge on your economic growth rate as it has been. And what's really missed in the point is it's intergenerational theft. And I mean that quite literally. We are stealing from our kids and the next generation to the extent that our deficit is $1 trillion. We're spending $1 trillion and getting the goods from it right now -- and the kids are going to have to pay for [everything] we're consuming. And so it is literally theft. So they're going to have to work hard, pay their taxes, get tax increases, pay off the debt, and pay all their own personal bills for our runaway spending binge."  

America has embraced reckless spending and She doesn't even pretend to repay what She owes. She incurs more debt daily at an unprecedented rate and most of Her current leaders do not acknowledge that this is even a problem. And so, if our leaders have one shred of human decency and honesty, of a personal or intellectual kind, rather than pander for votes, their bipartisan action should warrant a majority of both parties to end this deal and move forward on a deal that truly cuts all unnecessary spending, or President Trump must reconsider this deal and veto it, rather than continue on a path that watches our deficit soar and attacks our nation's solvency and the future prosperity of America.  

By Justin O. Smith
______________________
Edited by John R. Houk
Source links and text embraced by brackets are by the Editor.

© Justin O. Smith


Monday, March 26, 2018

Intro to ‘If This Is "Representation" Give Me Rebellion’


Intro by John R. Houk, Editor
By Justin O. Smith
Posted March 26, 2018


After President Trump signed the 2,000-plus page HR 1625 omnibus bill, America’s Conservative base screamed betrayal. For good reason: The bill appeared to give the Marxist Dems everything they desired with the non-Establishment GOP receiving scraps (or perhaps crumbs in Pelosi terminology).

This is good reasoning for Conservative outrage!

On a personal level though, despite the Leftists spoils going to the Dems (and those the spoils are legion as you will read from Justin Smith), the YUGE Omnibus Bill was also the largest military budget Bill in American history. The military spending purpose was more than merely reversing Obama’s military dismemberment. The money was needed to modernize the American military to regain steps over the leaps taken by Russian and Chinese military modernizations to overcome current American weapons technology. This is ESSENTIAL!

Due to the purpose of military spending I’m not quite as hot against President Trump as many – perhaps most – of my fellow Conservatives. In a Congress that has no super majority for the GOP (especially the Senate), the only way to get and keep government moving on a Conservative agenda is to make some painful concessions. The problem with HR 1625 way too many concessions were made that give the appearance of Conservative diminishment.

Justin sent this insightful post on the Omnibus package on March 24. I have since come across some info that may temper Justin’s and Conservatives’ anger a bit. The President has hinted via his favorite path to communicate with Americans – a tweet – that he will build The Wall with the Defense Budget allocation. Thomas Lifson at the American Thinker illustrates how this is possible.

Unfortunately, the President hasn’t addressed some of the other Omnibus egregious pork such as funding ungodly Planned Parenthood is one of probably many examples.

Without further ado, here is Justin’s very valid reasons for displeasure with President Trump’s signature on HR 1625.

JRH 3/26/18
******************************

By Justin O. Smith
Sent: 3/24/2018 3:01 PM

As I listen to President Trump on his action of signing the current Omnibus bill, I am left with no other conclusion than he is really not as strong a leader as many seem to believe him to be. He signed this terrible $1.3 trillion bill for all the wrong reasons and lamented its exclusion of terrible other items, like DACA, but nowhere did he castigate these do-nothing "leaders" for adding a bad gun control act called "NICS"; this Omnibus bill is all smoke and mirrors and the 33 miles of added funding for border fencing is just that - a fence [barely], not a wall.


This bill continues to fund Planned Parenthood too. -- Oh -- And Sanctuary Cities Too. Really? What happened to all Trump's talk about "defunding" sanctuary cities?

And how many more times are we going to provide border wall funding only to see a lesser plan offered and implemented for less money and the appropriated money simply disappear? Into someone's pockets? Especially now that we see this bill provides funding to secure the borders of Afghanistan and Iraq.

Trump should have refused to sign this bill and let the chips fall where they may, but he's terrible when it comes to policy on funding government and many other items. If Trump had not signed the bill, any government shutdown would not have stopped the military from functioning. Since the military is considered an “essential” function, i.e. halting its operations could result in fatalities or impede national security, it will continue to operate regardless of whether or not the government shuts down; military spending would have been addressed soon enough, once Congress returned with a cleaner bill.

Whose side is the GOP really on and when are they going to start keeping their promises? This is not REPRESENTATION. THIS Is A PERPETUAL CON GAME BEING RUN ON THE U.S. TAXPAYER AND THE AMERICAN PEOPLE.

Trump says, “I'll Never Sign Another Bill Like This One” ... Wanna bet?

It still doesn't assuage or change the fact that some other very bad permanent pieces of legislation rode in on the tail end of this bill. That's what happens when the Senate reverts back to pork spending legislation and why Trump is now asking for line-by-line veto authority from Congress, which was “ruled” unconstitutional in 1998, by the Supreme Court during the Clinton presidency.

This is also the same sort of bill that allows for funds to be easily shifted and misappropriated in the most corrupt fashion, just like Obama, because there is No Budget and these are only "spending suggestions". This makes this entire thing end up as one great big $1.3 trillion slush fund (the largest in U.S. history)--- more abuse of the U.S. taxpayer.

Who's going to account for it? The GAO? The Big Govt. commie Democrats and statist RINOS?  HA!

Whatever the structure of this bill, it is certain and known that bills were attached, like the NICS Act [Blog Editor: See Heritage post subsection “Includes the Fix NICS Act”], a piece of leftist gun control, that Did Become PERMANENT U.S. Law now to be fully employed and implemented against U.S. Citizens. Congress even gave itself a raise and that's Permanent and doesn't go away in six months.

This was 2,232 pages that NOT ONE SENATOR READ, except for Senator Rand Paul. This is the stuff that SWAMPS ARE MADE OF and the very sort of thing that Trump was elected to END.

If this is what we are paying for folks, You'd be better off to break out the axes, knives and pitchforks on the front steps of the Capitol Building in DC and have a good tar and feather party for the criminal pigs and traitors to their oaths to the Constitution and America.

Trump called this a matter of national security because of the military spending involved, which is just wrong. The real national security issue at hand is that this takes us one step closer to another massive economic collapse, greater than 1929 or 2008 either one. What are they going to do when this actually happens, because they refuse to control the federal government's out-of-control spending?

Daniel Horowitz of 'Conservative Review' writes: “Taken in totality, this bill validates, legitimizes, and codifies the world view of the Democrats, only with slightly less enthusiasm. Which is why the Democrats are crushing Republicans in turnout so far this election season. This bill will essentially end Republican control of Congress.”

This bill is conclusive evidence that House and Senate Republicans are whistling by the political graveyard, because they seem to be unaware that the content and means they used to pass this bill will turn off their base.

This is the bottom line: If you are a conservative voter and your party just passed a bill that funds a number of liberal priorities while busting the budget, would you bother to knock on doors for them this fall? Nope.


This Omnibus bill doesn't bode well for the future of America. It appears conservative values are dead in our government, as all the GOP pays them lip service and then promptly ignores them in their votes. This is pushing middle America into an untenable position where rebellion, in some form or fashion, in the not too distant future, begins to look like an appealing choice, unless Americans start electing real conservative Constitutional minded Statesmen of honor, who will restore traditional American principles and values, and the American Heritage, under the Original Intent of Our Founders. [Bold text by Blog Editor]

By Justin O. Smith
__________________________
Intro to ‘If This Is "Representation" Give Me Rebellion’
Intro by John R. Houk, Editor
By Justin O. Smith
Posted March 26, 2018
_____________________
If This Is "Representation" Give Me Rebellion

Edited by John R. Houk
All source links as well as text enclosed by brackets are by the Editor.

© Justin O. Smith

Thursday, March 26, 2015

The Seeds of WWIII are in Play NOW

WWIII Already Begun
John R. Houk
© March 26, 2015

This is actually one of those hooks to get you excited about purchasing investment advice.  That is not the reason for me posting. My hook was on the Conspiracy Theory title that incorporated the insinuation Russia and China would initiate a global economic collapse to the tune of $100 TRILLION of bucks. In case you are unaware, you don’t have to be a brainiac economist to comprehend that affects your pocket book and mine.

As an advice ad the offer ends on March 27. So unless you are an investor and trust the reputation of Mike Ward, you might want to hold up in participating in the hype. But what you want to be aware of is that Russia and China are NOT friendly economic competitors with the USA. I would even go so far as to say the ex-Communist Russia and the present Communist China are enemies of the United States of America.

America has a trade interest in both Russia and China (especially China). Ergo being enemies of America is a bit of a stealth nefariousness – at least in a public sense. Conspiracy Theorists, legitimate economists and National Security have been red flagging those two nations for years but for the most part the U.S. government has not really chastised the two rivals to America.

A quiet new Cold War is going on yet all nations involved are willing to embark with trade with the hopes of the economic benefits financially and economically continue.

It may sound a bit off the subject which I just began, but Muslim nations and Muslims devoted to a literal purity of Islam’s Quran are playing into this Russia-China vs. USA rivalry. Muslim nations are lining those three nations to decide which ones will benefit their National Interest and in a lot of circumstances their theopolitical world view. Syria’s Iran-supported civil war, Iraq’s war with ISIS-Daesh in which Shia-Iran is now heavily involved and Saudi Arabian economics and regional conflict with Iran and a growing lack of Saudi trust in Obama-led America in regard to oil-military alliance protection and Israel and undoubtedly more and more:

Arab nations agree on unified military force amid Yemen fighting, Egyptian TV reports (Jerusalem Post 3/26/15)

CAIRO - Arab foreign ministers agreed a draft resolution on Thursday to form a unified military force, the Arab League's secretary general said at a meeting in Egypt.

The agreement came after warplanes from Saudi Arabia and Arab allies struck Shi'ite Muslim rebels fighting to oust Yemen's president on Thursday, in a major gamble by the world's top oil exporter to check Iranian influence in its backyard without direct military backing from Washington.

"The Arab ... ministers agreed on adopting an important principle, which is forming the unified Arab military force," Nabil Elaraby told reporters after the meeting in the resort of Sharm El-Sheik.

"The task of the force will be rapid military intervention to deal with security threats to Arab nations," Elaraby added.

The draft resolution will be referred to the Arab leaders during their March 28-29 summit in Egypt.

Egyptian TV reported earlier that
READ THE REST

With Yemen in turmoil, Egypt sends warships to secure Gulf of Aden (YnetNews.com 3/26/15)

Sudan pledges air and ground troops to Saudi-led strikes on Yemen; Kerry offers logistics, intelligence support in Yemen as Iran-backed Houthi rebels advance on the Strait of Bab-el-Mandeb.

Egypt and Sudan on Thursday pledged support for the Saudi-led strikes on Iran's Yemen allies the Houthis, even as four Egyptian naval vessels crossed the Suez Canal en route to Yemen to secure the Gulf of Aden.

Maritime sources at the Suez Canal confirmed the vessels' route, saying they expected them to reach the Red Sea by Thursday evening.

Sudan's Defense Minister Abdel Raheem Mohammed Hussein told reporters on Thursday that his country would take part "with air and ground troops in the Decisive Storm operations" against the Houthi rebels, saying Sudanese forces had begun "mechanical movements" towards the area of operations.

US Secretary of State John Kerry spoke with the foreign ministers of Saudi Arabia and other Gulf Cooperation Council members on Thursday and welcomed their decision to take action against the Houthi, a senior US official said.
 
"He commended the work of the coalition taking military action against the Houthis and noted the United States' support for those coalition efforts - including READ THE REST

As US lets Yemen fall, Israeli ire pales next to Arab fury (Times of Israel 3/26/15)

Jerusalem is worried by the Iran-backed Houthi takeover of Aden, but Saudi Arabia is burning with anger, and not at Tehran

A few months ago, when Yemen’s Houthi uprising was still in its infancy, Israel was already worriedly watching over the progress of rebel forces making advances in the peninsula

It’s little surprise the group got Jerusalem’s attention. In almost every demonstration held by Houthis in recent months, the slogans heard may as well have been taken straight out of the 1979 Islamic Revolution in Iran: “Death to America, death to Israel, curse the Jews, victory to Islam.”

The Houthi Zaidiyyahs belong to a Shia school of Islamic thought which is distinct from the beliefs held by Shiites in Iran, but they act in accordance with the regime in Tehran, which supplies the Yemenite rebels with advanced equipment that allows them to wage battle on the forces of President Abed Rabbo Mansour Hadi.


Firstly, an Iranian takeover of the strategic Bab el Mandeb Strait and the possibility of a Israeli ships coming under fire with no one officially taking responsibility for such attacks would not bode well for the Jewish state.

But aside from the threat of assaults on ships, the Iranian-Houthi takeover of Yemen raises another serious concern for Israel, namely, the potential rising influence of Iran in the region, which READ THE REST

Beware ISIS strategy that fortifies Russia, Iran, and Syria (Washington Times 3/2/15)

In asking Congress to authorize the use of military force against Islamic State militants, President Obama stressed the importance of showing the world “we are united in our resolve.” Demonstration of united resolve against blood-thirsty terrorists whose ranks, ambitions and territory have grown exponentially is important. But forging strategy to battle ISIS without also forging strategy to thwart Syria, Russia and Iran is a terrible mistake.

Although the President now highlights the brutality and aggression of the Islamic State, he still whitewashes the brutality and aggression of established states Syria, Russia and Iran, and still ignores the need for grand strategy to deal with them. When nation-states escalate weapons programs, enact egregious human rights violations, foment regional chaos and war, and plot against the United States and its allies, history tells us to take it seriously.

We must, therefore, take Iran, Russia and Syria, and the collusion between them, seriously. With the apparatus of the state at their disposal and the backing of each other, they are, potentially, an even greater threat to the “free world” than ISIS. Because they are terror sponsors and supporters, WMD in their control means WMD out of control, susceptible to READ THE REST

DIA: Islamic State Spreading Beyond Syria and Iraq (Washington Free Beacon 2/3/15)

The ultra-violent Islamic State terrorist group is expanding beyond Syria and Iraq and is establishing a foothold in Libya, which is becoming a safe haven for terrorists, the nation’s top military intelligence official told Congress Tuesday.

China, meanwhile, is deploying its aircraft carrier-killing DF-21D missile, and Russia is significantly expanding its strategic nuclear forces with new missiles, Marine Corps Lt. Gen. Vincent Stewart said in testimony to House Armed Services Committee on global threats.

Stewart presented a dire picture of growing threats in Iraq and Afghanistan—where national forces remain unable to defend their countries without foreign assistance, despite billions of U.S. dollars in support and training.

The growing threats posed by China, Russia, Iran, and North Korea are being made more difficult to deal with because of cuts in U.S. defense spending, Stewart said in READ THE REST

After highlighting what I feel are the beginnings of WWIII you can now read the Mike Ward email that started my musings on the probable war adversaries and the tinder that will undoubtedly lead to global war. Apart from the Russia-China hook involved here the information available here is to entice to purchase a money making program called the Project Prophecy 2.0 Wealth System. The system is supposed to help you survive a global collapse inspired Russia and China to push America out as the global standard for monetary solvency.

In email portion there are about three links that will lead to a 45 minute infomercial which you can skip by reading the portion by Jim Rikards which promotes that which the video promotes.

JRH 3/26/15
**************************
Russia and China could Start $100 Trillion Collapse (CIA Intel Warns)

By Mike Ward
Email ad Sent by: Total Conservative
Sent: 3/24/2015 8:57 AM

Details are beginning to emerge concerning a secret attack on the U.S. economy being carried out by both the Chinese and Russian governments.

To this point, the media has kept the American people in the dark about everything.

In
a shocking video
, the CIA's Financial Threat and Asymmetric Warfare Advisor has revealed we were able to fend off the first wave of this dangerous assault. But it was a close call.

However, he and many of the highest-ranking members of the U.S. Intelligence Community are now stepping forward because they fear this could quickly escalate into something terrifying.

All 16 intelligence agencies have officially released a single report that warns this situation has grown so dangerous, we could suffer "a worldwide economic collapse" that would cast us into "an extended period of global anarchy."

(
You can view their official release here
)

And some of the world's richest investors appear to be rushing to prepare for this frightening scenario.

Warren Buffett has now taken $55 billion of Berkshire Hathaway capital out of the markets. And George Soros has moved 16% of his net worth into a short position that shields him from an imminent Wall Street collapse.

It's critical you understand what's developing, because millions of Americans could soon be blindsided by a historic $100 trillion financial catastrophe...

Click here to continue reading
...

Stay Safe,

Mike Ward
Publisher,
Money Morning

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clip_image001
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clip_image001[1]
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clip_image001[2]
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clip_image001[3]
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clip_image001[4]
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If you are an investor the offer in this ad to date is only available until March 27, 2015 – As to this post, that is tomorrow.
_________________________________
The Seeds of WWIII are in Play NOW
John R. Houk
© March 26, 2015
___________________________________
Russia and China could Start $100 Trillion Collapse (CIA Intel Warns)

About Money Morning and HERE
Edited by John R. Houk