Recession, Politics, and Avoidable Dystopia

 Below is an email I sent recently.  The things described apply mostly to the USA.  Many other Lands are on a better track.

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Our Gov't has defined "Recession" for decades, & by its own definition, we're in one.  Nevertheless, Biden & several other national politicians deny it.    This is so typical of national politicians.  They can't face the consequences of a Boom-Bust, unsustainable, highly polluting economic system, aka, neoliberal capitalism...or simply, neoliberalism.  So they deny the facts.

The Repubs are blaming the current Administration, but Repubs are as much (or more) to blame as the Dems.  They all spend beyond the means of the Gov't.  They all (with very few exceptions) adhere to a system which shoots for infinite "growth" in a finite habitat.  They all push for overconsumption and ecological overshoot.  Some truly ignorant guy has a book out in which he claims the USA should aim for a population of one billion...because we have lots of empty space in our land.  

Oh lawdy momma!  A lack of common sense abounds.

https://www.youtube.com/watch?v=HB97iwcm_Qc&list=WL&index=78  [If you absolutely are intolerant of "bad" language, then perhaps you shouldn't watch this very funny & tragic clip by Bill Maher.]

It has been estimated that if all countries consumed energy & goods at the current rate the USA does so, five planet Earths would be required to sustain world population.  And yet, it seems most Americans believe such overconsumption is "normal", "good", & beneficial for us.  Good grief!  This is why I keep saying a paradigm shift in our worldview is necessary.  Without it, our future will be dystopian...& that already has started.  Those who deny it are either uninformed, or burying their heads in the sand...just like the politicians in the 1st paragraph above.  Wake up, folks:  the Crisis isn't looming anymore; it's here now.  We have about ten years or so to change course...perhaps less.  Let's opt for sustainability.  Other than "Greenwashing", politicians won't do it unless we demand it.

Everyone Take Care

https://www.barnesandnoble.com/w/the-beginning-of-the-path-to-human-extinction-and-how-to-get-off-it-scott-haley/1141364431?ean=2940160947181

http://individualsovereignty.blogspot.com/ 

https://www.amazon.com/dp/B09Z4QL6NB

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Not only my opinion.

Mnuchin is Wrong About Both COVID-19 & the Recession

He recently claimed---
1.  The economy should rebound once the new virus is "contained".  [There are two assumptions in that view:  the bug will be contained; and our economy will or should rebound.]
2.  The designation, Recession, is not "terribly relevant" because it's the gov't that is effectively shutting down large parts of the economy.  The downturn is not due to underlying economic conditions.  Instead, it's due to measures necessary to slow down the spread of the virus.
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All the above sounds reasonable, but is it?  Consider the following.

1.  Containment does not mean eradication.  It means limiting the virus to a smaller number of areas.  The way things are looking, it's too late for that.  [Nevertheless, "flattening the curve" is important.]  This virus, officially designated by WHO as SARS CoV-2 or SARS 2, spreads easily and rapidly.  [SARS = Severe Acute Respiratory Syndrome.]  Too many younger people (in particular) appear to be spreading it all over...because, since most cases of infection are mild to moderate, the younger crowd seems to think it's no big deal.  The fact is, covid-19 (SARS CoV-2) is spreading like wildfire both here and globally.  Containment is not likely.  The best we can hope for is slowing the spread and rate of infection (flattening the curve), thus giving the medical establishment time to get caught up, so to speak.  That means rapid testing, isolation, and more PPE (Personal Protective Equipment...for health care staff).

2.  The slow initial response re testing, and the continued slowness of testing, means that this virus is now in all 50 States here...and in people who currently are showing no symptoms whatsoever.  Add to that the instances where people simply are not practicing social distancing at all.  Except for the three cities with large numbers of known infections, I'm mostly convinced that too many people (everywhere else) are not taking proper precautions.  I know for sure they're not in this little valley where I live.

3.  An unknown number of people infected with this bug are going to work.  They're showing no symptoms yet.  Some people with symptoms are going to work anyway; they have little financial choice.

4.  Bottom line re covid-19 in the USA:  it already has become widely spread, and continues to do so.

5.  The Administration is reluctant to use the word, Recession (which we're already in); arguably, we're rapidly approaching a full-blown, economic Depression.  [The 1930's Great Depression, which lasted about ten years, was not so named until halfway through it.]  There are at least two economies in the USA:  one for the top 20% (or so) of income earners; and one for the bottom 80%.  When Trump & Crew refer to "our great economy, the greatest in our history", they're referencing the economy of the top tier, not that of the overwhelming majority of Americans.  Even then, they're inaccurate.  Our greatest economy was during the Golden Age of American Capitalism, from about 1946 to the "Nixon Shock" in 1971.  The Trump years aren't even in the same universe, never mind ballpark, as that economic boom.  By the way, mega biz was taxed at up to 90% then... and they still prospered.

6.  In several fairly recent past posts, I've detailed the reasons for the contention immediately above.  No time or energy to repeat all that, but here's a partial, truncated list of those reasons.

a.  Record national/public, corporate, and personal DEBT...and it's all coming home to roost.  U.S. TOTAL Debt is now over $76.8 trillion.

b.  50% of workers in the USA make less than $33,882 per year.  The Middle Class continues to shrink.  (See:  usdebtclock.org)

c.  The Gov't Jobs Report fails to identify how many jobs are part-time, temporary, or both.  Too many people are struggling with two or more jobs.

d.  The unemployment stats put out by the Feds are always way too low.  See this post:  http://individualsovereignty.blogspot.com/2018/02/the-real-state-of-union-rather-than.html

e.  Many countries are dumping Dollars, forming their own currency exchange agreements, and their own Trade agreements.  Trump has so alienated them that they are by-passing the USA.  Even prior to The Don, the same thing was going on in order to oppose American hegemony.  We are becoming isolated in the world economy.  Other countries are tired of our Govt's bullying.

In addition---

7.  Mega Banks and other Mega Corporations do little to nothing to help increase the number of good-paying jobs and manufacturing in this country.  Despite the current Admin's rhetoric, factories & jobs continue to flow South or overseas.

8.  Bizarre financial Derivatives continue to threaten our Financial Sector and/or our economy and the world's, as well.  Essentially nothing is being done to correct that situation.

9.  Mega monopolization in the Business world is stifling small businesses in the USA.

10.  Rampant Financialization (since the 1970's) continues to destroy jobs and manufacturing, suck up Middle and Lower Class income, and cause an exponential rise in income inequality.

11.  Bottom line re Recession:  even without the covid-19 trigger, we were right on the cusp of the overdue Recession.  The virus wasn't the cause of the Recession we're in now; it was merely the trigger.  The causes I just listed above.  Our economy is not resilient.  Even the workers are always in a precarious situation--- insecure jobs, poor benefits, essentially flat wages, low wages, obscene health care costs, etc.  The economist, Guy Standing, refers to them being in the Precariat Class.
https://www.youtube.com/watch?v=nnYhZCUYOxs
Even people who are doing okay, living paycheck to paycheck, have little to no way of saving for a rainy day.  The Establishment doesn't want them to save.  It wants them to spend, spend, spend... and to increase their debt... so that the consumer society can expand, expand, expand.  Debt will be our downfall.

12.  Finally, on both the disease and economic fronts, this is not about only the USA.  It's worldwide.  On the economic front, most of the "Developed" countries (not only here in the U.S.) are on the cusp of--- or already in ---a Recession.  We in the USA cannot be unaffected by that.  The next Depression, like the last, will be worldwide.
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p.s.  The reason the Dems in Congress haven't yet (as of about 7 AM) agreed to pass the COVID-19 Relief Bill--- or whatever it's called ---is because the money going to corporations has too few to zero conditions on it.  Remember the last Bailout Congress passed re the Mega Banks?  No restrictions as to use of that money.  Did they loan it out to stimulate the economy?  Answer:  very little of it.
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Not only my opinion.  Be Well

COVID-19 Has Dealt the Trumpian World a Mighty Blow

Preface
Like other posts here, this one is an essay.  It's not an academic thesis.  Essays usually contain both facts and speculation/opinion/analysis.  So, when you read below (for example) Trump & Crew are rolling back environmental-health-safety (EHS) regulations on a massive scale, don't look for footnotes verifying that.  I don't have the time or energy to do a bibliography on commonly known facts.  If you have doubts about the veracity of some statement, you'll have to do your own research.
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In regard to covid-19, Trump tried his usual (now boring) gaslighting--- lies, contradictory statements, outrageous claims, etc.  That didn't work, so here lately, he had to get off his butt and actually do something.  About 90% of his public statements now are totally scripted (to keep him from sounding like a gaslighting idiot)... and he sounds bored to death reading them.  Every so often, he briefly goes off script and returns to gaslighting; but anyone with any sense at all sees through it.  The Trumpian World is starting to collapse.  A tiny virus is bringing it down.

In the Trumpian World, phenomena such as Nature, ecosystems, conservation of natural resources, biodiversity, and the like count for little to nothing.  At the highest levels, the Trumpistas appear in general to care only about finance, economics, and corporatism.  [I imagine they care about their families, as well.]  I suspect that is why they know little to nothing about Natural Science.  Trump & Crew are rolling back environmental-health-safety (EHS) regulations on a massive scale.  As do many to most Corporatists, they believe forms of pollution are externalities... in other words, pollution need not be considered in the manufacturing, distribution, and pricing of consumer goods.  It's someone else's problem.

The elected and appointed Trumpistas say they represent the common people, but the EHS regulations and standards they're eliminating protect the health and safety of all of us.  In some cases, the health of the planet is being protected as well.  Unfortunately and necessarily, EHS regs usually increase the cost of doing business.  That's why they're being eliminated.  Never mind the health & safety of the common people.  According to the Powers-That-Be, the solution to pollution is to ignore it and/or let it dilute in Nature.  Wow, what genius thinking by ignoramuses in the Executive Branch (and a large portion of Corporate America).

Then along came covid-19.  At the highest levels, the main concern in the Trumpian World was not health, but rather the impact on Business... especially the Financial Sector.  So, the initial response was slow.  The next response was poo-pooing the disease.  The next response was a lack of test kits.  After all, we don't want people to know how widespread the bug is... that wouldn't be good for Wall Street.  [Incidentally, only about 14% (not counting 401k or Pension accounts) of Americans are invested in the Stock Market as individuals.]  All during this whole scenario, Trump is saying it's no big deal, "Relax, it will all pass.".  Off script, he's still saying that.  Meanwhile, in my opinion, the overdue Recession has begun.

Yes, Mr. Pres, just as with the Spanish Flu and the Swine Flu, this too shall pass.  But at what cost in human suffering?  Hopefully, Mr. Trump has learned the following lessons.
1.  Viruses aren't affected by childish gaslighting.
2.  Inept handling of a disease outbreak can have a severe economic impact.
3.  It's not really possible to ignore a pandemic.
4.  It's not really possible to ignore an economic and/or financial downturn.
5.  Business and Wall Street aren't the only things that matter.
6.  Lying about a situation is not usually the best way forward.
7.  Mother Nature is in charge of this planet, not Corporatists.  [By the way, Adam Smith denigrated Corporatists who thought they were "Masters of the Universe".  Some in the Trumpian World think he praised them.  He did not.]
8.  Don't try to ignore Mother Nature, or treat her badly.  You'll regret it.
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Not only my opinion.  Be Well

The OVERDUE Recession is Starting NOW

Preface
Below is the latest email (slightly edited here) I sent to family & friends.  The Recession hasn't officially started, because the Powers-That-Be in Gov't need at least two calendar quarters (I think) of data before declaring it.  Anyone who doesn't have his/her head buried in the sand, though, probably would agree:  this is the beginning.  Act accordingly, as follows.
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Be safe, & keep stocked up.  This is the start of a Recession...possibly even worse, a Depression.  Irrational exuberance re the economy already is evaporating.  Distribution of goods already is being affected.  "Runs" on grocery stores already (just barely) have started.

If anyone never has believed me in the past about the overdue Recession, believe this now:  it has started.  

The covid-19 Black Swan, predicted by Daniel Zhang, is at the beginning of crushing the economy.

We'll all survive that, but those of us with a cache of extra household goods (not just food) will be much more comfortable than others.  Distribution of goods eventually will slow way down...temporarily...maybe only for a couple of weeks, maybe for a bit longer.  It hasn't kicked into high gear yet, but it will...no one knows exactly when.  Stock up... food, OTC meds, paper goods, anything you use daily or weekly.

Thanks to the slow response (& lack of previous preparedness) by most governments--- especially in the USA ---covid-19 sooner or later will infect multiple millions, and will devastate the world economy.  If we all don't pull together on this situation, many fewer millions will die (directly or indirectly).  That's not hyperbole.

p.s.  Worldwide:  140,000+ cases; 5,300+ deaths; 123 countries (including "territories").

USA:  1,650 known cases; 41 deaths; 47 known States.
Compare these numbers to those in the March 10 post/essay immediately previous to this one.

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Not only my opinion.  "Be Prepared"  (A long, long time ago, I was a Boy Scout.  For those who don't know, that's their motto:)

When the Overdue Recession Hits Us

Preface
I don't have an Economics Degree, so I rely on a broad spectrum of economists and monetary theorists for these essays.  Plus, as a wise man once told me, "You don't have to be a Master Carpenter to recognize a shack.".  :)

A few facts---
1.  Worldwide debt is somewhere in the neighborhood of $250 trillion, which is close to three times the world's GDP.
2.  The U.S. public National Debt is now a tad over $22.5 trillion...more than our annual GDP.  We pay $896 million per day in Interest on that debt.  Politicians in DC are increasing our Debt exponentially.
3.  U.S. personal debt is now just shy of $20 trillion.
4.  U.S. unfunded liabilities now stand at a bit more than $125.7 trillion.
5.  U.S. nonfinancial Corporate debt is now at about $15 trillion...the highest it has been in decades.
6.  Total U.S. Debt (not counting unfunded liabilities) is now a tad over $74.1 trillion.  [See:  USdebtclock.org ]  That's more than three times our annual GDP.

Conclusions---
1.  The world is awash in Debt.
2.  The U.S.A. has a significant portion of that Debt.
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Meanwhile, the UK, continental Europe, and Japan all have been adhering to the Zimbabwe "School of Economics" by PRINTING MONEY.  Plus, the USA is on the verge of starting QE-4, more printing of money.  This is all being done to prop up the Stock Market.  In addition, Corporations have been buying back their own stock, thus falsely inflating that Market.  At the same time, Bond Markets have been crashing, capital expenditures have been decreasing, and manufacturing has been slowing down...in the Western World.  In Asia (except for Japan), they have been sticking to conventional economic, monetary, and fiscal policies; but in the West, we are in an Era of Weirdness.
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Bottom Line---
When the overdue Recession hits, and there's a succession of bursting Debt Bubbles, the impact on Western World Finance and Economies will be much greater than in 2008-2009.  Businesses, a few investment Banks, perhaps some regular Banks, Insurance companies, and associated firms likely will collapse, then unemployment will jump way up, and price inflation will take hold...thus exacerbating the Recession, possibly driving it into a full-blown Depression.

Central Banks refuse to bite the bullet and raise Interest rates (or better yet, let the Market determine the rate) because that would burst the Stock Market Bubble.  We would have a Recession, but we need to because too much money is chasing too few goods.  Big-time inflation is coming unless we dial back all this monetary craziness.
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Not only my opinion.  Be Well

BIG News on the Economy

On Wednesday night, 8-14-19, in their News broadcasts, the Corporate Media finally admitted that a Recession "may be" in the near future.  Isn't it amazing how we (according to them) went from "our booming economy" to a Bust "may be" right around the corner.  Ha!

Of course, the Corporate Media have known that for at least a couple of years.  Their News isn't "fake", but it's often incomplete.  The metrics for the next Crash have been in place for, at a minimum, the last three years.  News of a "booming economy" meant a "boom" only for a relatively small percentage of income earners.  The underlying, base economy has been pretty much a disaster.  Half the workers in this country are either in poverty, or bordering on it.  HALF.
We're talking about workers, not people on assistance/welfare.

The greatest transfer of wealth (to the Upper Crust) in the history of humanity is still in full swing.  The so-called "recovery" doesn't apply to the majority of Americans.  I've gone through the stats in many previous posts, and don't have the time or energy to repeat that now.  The reasons for this dire situation also have been detailed in previous posts.

Here's all you need to know for the near-term future:  there's no "may be" or maybe (see the first paragraph above) about the coming Crash.  It's about 99.9% guaranteed.  We're overdue for it.  Again, if you don't believe that, simply look at the time intervals between Booms & Busts from the 1973 Recession to present day.  It won't be only here in the USA; it will be worldwide.  It won't be a minor downturn.  It will be a major Crash.  All you can do is plan and act accordingly.

What does "plan and act accordingly" mean?  Here are my main suggestions.
1.  Pay down as much of your debt as possible.  When the Crash hits, your income & purchasing power may go down, but debt payments likely won't.
2.  Stock up on extra, everyday household goods...not only food, but paper goods, OTC meds, toiletries, anything you use regularly.  Credit will dry up for a time (maybe a week, or two, or ?), and businesses run on credit, not cash.  That means delivery of goods to stores will slow way down or stop...temporarily.
3.  Keep some ready cash handy.  How much depends on your comfort zone.  Banks very well may limit withdrawals for a time.
4.  Hang on to (or obtain with cash) hard assets.  Their value will increase when inflation hits.
5.  Don't take on more major debt, unless it's for an asset that you can sell relatively quickly.  When announcing their "news" about the Recession, the Media suggested that you perhaps (because of current lower interest rates) should now buy a house or a car.  That's wise advice only if you can pay cash and have no extra debt.  Corporate interests want you to take on more debt...don't.

Not only my opinion.  Be Well

More Bald-Faced LIES From Trump & Crew

1.  Regarding separating little kids from their parents at the border, and then shipping the kids all across the country---

The Don claims it's all the fault of the Democrats because:  a) they passed a Law requiring that be done; and b) they are obstructing a new, proposed Law to correct the situation.  Usually Pence is in the background nodding his head in agreement. 

Let's see, first of all, there is no such requirement in any immigration Law passed by the Dems.  The requirement was for separation of children from smugglers, not PARENTS.  There is only Trump & Crew's screwy interpretation of the Law.  This is similar to John Yoo's screwy interpretations of Law during the Dubya Admin.  Yoo claimed the Geneva Conventions of treatment of war prisoners did not apply to Afghanistan or Iraq.  He also claimed that despite the Fourth Amendment, warrantless wiretapping of citizens was legal.

As to obstructionism by the Dems regarding a new Law on immigration, exactly how does that happen when Repubs hold majorities in both Houses of Congress?  Seems to me it can happen only if some Repubs join the Dems in opposition to whatever The Don & Crew are proposing.

The fact is:  this cruel practice (in a supposedly Christian nation) is totally the creation of Trump and Sessions.  It's their policy, and no one else's.  Even many/most high-level Repubs abhor it.  Finally, it's State-sponsored child abuse.

2.  Regarding claims that "the economy is doing great"---

Lately, Trump & Crew are claiming exactly that on an almost regular basis.  Let's see, we have a Stock Market Bubble that's worse than the one just prior to the 2008 Crash.  The same is true of the current Housing Market Bubble.  The Derivatives Bubble is alive and rolling on.  The Bond Market Bubble is starting to collapse.  The National Debt is nothing short of astonishing.  All that begs an answer to this question:  are Trump & Crew so ignorant that they believe none of the above are Bubbles?

Answer:  Of course not.  They all know they're Bubbles, and that those Bubbles will burst relatively soon..."They" being the ones who are deceitfully selling: the "good economic times are here".  Shades of 1929, 1973-'75, 1981-'82, 1986-'87, '97-2001, & 2007-'09.

Add to the above the fact that the rising price inflation rate has almost totally wiped out any wage increases of late.  Add to that:  Trump's Trade War will harm both consumers and businesses.  Then add this:  the Fed Government's Jobs Report and Unemployment numbers are almost always wrong.  Unemployment is at least double the number given by the Feds.  Finally, add this:  for the first time in our history, the Middle Class comprises less than 50% of our population.

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Conclusion:  Mr. President, you are flat-out lying about both numbers 1. & 2. above.  Either that, or you are the most ignorant Oval Office Occupier we've ever had.

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Suggestion to everyone:  don't take on more debt, pay down what you can, and hang on to every hard asset possible.  The next Crash is overdue.

Not only my opinion.  Be Well

Financial-Economic Crash Update

Below is an email I just sent to a few family and friends.  There's a tiny bit of editing... nothing important.
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Maloney is correct (see link below):  this is undeniable evidence that we're in a Recession; there is no "recovery".  Since '08-'09, we've had a series of weak "dead cat bounces", not just of the Stock Market, but of the entire economy.  They haven't been sustainable.  The current Stock Market is a poor indicator anyway--- it's in an artificial Bubble created completely by the Fed... and the chickens are coming home to roost... probably within a year or so... at most, by no later than 2020 or thereabouts.  Just a guess.  No one knows "when", but there is no more "if".  https://www.youtube.com/watch?v=M1He-bpM8MI

Sorry, folks, but now there's little to no doubt that we're in for really bad economic times.  Don't believe the Propaganda from the Powers-That-Be.  NeoFeudalism is on its way.

Get out of Mega Banks, get out of the Stock Market, stock up on household goods, hang onto and/or acquire as many hard assets as you can, cash in any T-Bills (Fed Bonds) you might have, squirrel away some cash, and watch the Bond Market rather than the Stock Market.  The current Housing Bubble is predicted to burst anywhere from very soon to no later than 2024.  The Dollar Crash could be anytime... all that's needed is for China, Russia, India, etc. to accumulate a little more gold.  Once China launches a (to some degree) gold-backed currency, the sound of the rush from the Dollar will be deafening.  That's only one event that could bring down the Dollar; there are several.

Once one Sector goes, the obscene, bizarre Financial Derivatives Market (estimated at $1.5 quadrillion) will bring everything down...probably worldwide.  Banks, Mega Hedge Funds, Insurance giants, et. al. are making billions off Derivatives sales (while creating essentially zero jobs in the process), but don't have enough reserves to cover all defaults.  It's 2008-09 on steroids...super steroids.  Be Prepared.

Don't let the State-Corporate Complex mold your mind anymore.  Reject all Edward Bernays style Propaganda Kool Aid.  You can't miss it; they don't even try to lie with subtlety anymore.  It's blatant lying:  "There's no price inflation worth mentioning"; "The unemployment rate is now only 5%"; "The dollar is strong"; "The Fed has it under control...they're doing a great job"; "The recovery is proceeding"; "Some banks are too big to fail [and prosecute]"; and on & on.  Please, enough of the lies.

By the way, this is not a Right v. Left issue.  Forget that paradigm; this is way above that distraction.  To use an educational metaphor:  this is at the post-doctorate level; the Right-Left paradigm is at the second grade level.

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Not only my opinion.  Be Well

Hey, National Politicians - One More Time

1.  Even the New York Times Editorial Board has stated (paraphrased):  the ISIS-Syria-Iraq War that Obama is waging is unconstitutional.  That's because it is...it's illegal under our system of government.  It's not even properly authorized under the War Powers Act.  You high-level DC politicians keep claiming you're all for the Rule of Law.  Talk is cheap...prove it.

2.  A retired combat veteran and Professor Emeritus of History at Boston University, Colonel Andrew Bacevich, has stated:  "America's war for the greater Middle East cannot be won.".  Using Iraq as an example, for a quarter century we've been hearing the following from three different Presidents:  "We shall prevail.".  Isn't it obvious by now--- this is nothing but Perpetual War for the benefit of a few, and we are not going to prevail.  Who benefits?  Follow the money.  You politicians are serving your primary constituency--- the Super-Rich Oligarchs, the Mega Bankers, the War contractors (facetiously referred to as Defense contractors), and a few others who profit from constant war.  This is so glaringly obvious that it's painful.  Yes, we all know:  "It's complicated."...nevertheless, it's still obvious.  You are not serving We the People.

3.  The U.S. economy is not "recovering"; neither is that of the world in general.  We still are in a Recession, and it's worsening every day; furthermore, we're only a hair's breadth away from a full-blown Depression.  Stop your lying, half-truths, and Propaganda.  We know better than to believe any of it...that's because we live in the world, not in an Ivory Tower.

Not only my opinion.  Be Well

Some of the Corporatists Finally are Waking Up re: the Economic Collapse

Quotes from---
Goldman Sachs:  "We are witnessing a Stock Market exodus.";
Bank of America:  "The U.S. may already be in a Recession.";
Wall Street Journal:  "A Hedge Fund Exodus";
CNBC commentary:  "This [the weak consumer] could be the 'Black Swan' for the economy.";
                                 "We are in the midst of a deceleration in the economy, and the chain of                     dominoes leading to a recession has started to fall.";
                                 "This is the foreshadowing of a recession.";
JP Morgan:  "An economic crisis is inevitable.";
                   "The U.S. economy is steamrolling toward a Recession."
                   "Recession risk in the U.S. is rising rapidly.";
Bloomberg:  "The Shipping News Says the World Economy is Toast.";
                    [The Baltic Dry Index is way down.]
                    "The clouds are gathering again over the global village we live in; they are getting darker every                        day.";
CitiGroup:  "The global economy is on the brink of a Recession.";
                  "The global economy seems trapped in a death spiral...";
US Bank CEO:  "I worry that the economic, political issues can impact people's incentive to consume and                                their optimism to go down. That's what worries me."
                          [Well, it's difficult to maintain an incentive to consume when:  your wages are stagnant; or                                you have a part-time or temporary job; or you're unemployed; and the cost of living                                     (especially groceries and rent) keeps going up.  Hello.]

The above institutions/people have only scratched the surface relative to the Economic Crash that already has started, but at least it's a start.  Now, if we can get the politicians to admit what's going on, maybe we'll get somewhere.

Not only my opinion.  Be Well, and Best of Luck to Everyone

A Few More Lies and/or Propaganda From Public and Private Institutions

1.  NBC News recently stated that the Fed interest rate hike (.25%) "...is a sign that the economy is improving.".  Nothing could be further from the truth.  That action is a sign that:  the Fed Reserve is recognizing it is increasingly losing credibility... and it is desperate.  For decades, Fed central planners have been facilitating a massive transfer of wealth from the common people to the Upper Crust.  As a result, the economic situation has been improving overwhelmingly only for the Rich and Powerful.  At the same time, Fed interference in the Money Market has caused the rest of us to struggle mightily simply to keep our heads above water.  The outright falsehoods put out by the Fed Gov't (at the highest levels) and regurgitated by the Corporate Media---regarding the unemployment rate, the price inflation rate, the jobs numbers, etc.---cannot belie the fact that we still are in a deep Recession, and heading for a Depression.  [I've detailed why that's true in several previous posts.]

2.  President Obama claims his ISIS Strategy is working, and that we will eventually "defeat ISIS".  About 9,000 U.S. airstrikes in Iraq and Syria (never mind the airstrikes by other members of the "coalition") seem to have had little effect on ISIS, but plenty of negative effects on others--- the killing of innocent civilians, the creation of both refugees and more terrorists, and the destruction of civilian buildings.  Chaos prevails.  As to attacking ISIS sources of funding, good luck with that.  ISIS is funded primarily by Arab billionaires... billionaires.  If ISIS ever faces imminent "defeat", all they have to do is fade back into the woodwork... and live to fight another day.  Military actions are not the solution to the problem, but they are a great distraction from our imploding economy at home.  That has been done by governments for centuries.  Manipulating a population in this way is nothing new.

3.  A high Gov't official (can't recall who) recently stated that ISIS "has declared war on us".  That may be true, but we should keep this fact in mind:  "we" (i.e., our Gov't) attacked ISIS first, well before they did anything to anyone in the West...and that includes the brutal beheadings of Westerners.  I'm not defending ISIS in any way...but facts are facts.  Our Gov't once again stuck its nose into what basically is a civil war; "we" attacked ISIS in Iraq because they were getting close to some U.S. oil company operations there in the northern part of that country.

4.  Our Gov't is not providing an SS COLA (Cost of Living Adjustment) for next year because "according to the Consumer Price Index [CPI], there was no price inflation this year"...so say SSA Officials.  I guess those same officials did no grocery shopping or renting of housing this year...never mind the increase in the cost of OTC meds and various other commodities.  It's true we're in a deflationary period now (e.g., crude oil, most metals, & some other commodities have gone down in price), but that doesn't apply across the board.
A side note regarding Social Security---
Since retirement from wage slavery in 2004, my primary source of income has been SS Retirement.  Unlike some Americans (hopefully not a majority), I don't consider SS to be any type of "welfare".  That money was taken out of every one of my paychecks for over 40 years for the express purpose of helping to provide for my retirement; I want it all back...every penny, and I don't want it stolen from me via inflation of the money supply (which results in commodity price inflation).
Some politicians claim there is no SS Trust Fund.  Not true, there is one...since LBJ first did it, every Administration since then has raided that Fund & used the money for other purposes.  Consequently, the SS Trust Fund is full of U.S. Gov't IOUs.  That's why SS supposedly is in financial difficulty... no other reason.
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Not only my opinion.  Be Well

Notice How the Corporate Media Take a Terrorism Story...

and beat it to death...over and over...day after day.  I'm not saying these fanatical, philosophically ignorant, "true believers" are not dangerous (whether it's "jihadists" or some nut attacking Planned Parenthood), but the fact remains, you have more chance of being killed by lightning than by a terrorist.  Plus, while the stories of terror attacks are "in-depth", there's hardly a peep from the Corporate Media about how the U.S. Govt's military misadventures (especially drone attacks) are generating terrorism, not preventing it.

Here's what we all really should be afraid of---
1.  Neoliberal politicians---such as McConnell, McCain, Obama, Schumer, etc. ad nauseam---who are backing policies and laws that are destroying this great Land economically.
2.  The fact that we are in a deep Recession with an imploding economy.
3.  The fact that the world economy is in deep trouble...mostly because the Powers-That-Be still are shifting wealth from the Lower & Middle Classes to the Upper Crust...at an astounding pace.
4.  The Fed Reserve engenders Boom-Bust economic cycles; it doesn't prevent them.
5.  The true unemployment rate in America is somewhere between 20% and 40%.
6.  The fact that Edward Bernays style Propaganda continues to mold minds to the benefit of the Rich and Powerful, and to the detriment of the rest of us.

I vote for some in-depth reporting on those fearsome items.  I realize that the true economic situation may not be "flashy" news, but it's much more valuable than the fact that the latest nutcake criminal pledged her allegiance to ISIS...which I've heard on the Corporate Media now for about four straight days.  Who gives a damn about to whom she pledged anything?  Yes, Terrorism poses a danger of sorts; but Neoliberalism is a much greater danger.  Bizarre financial derivatives and Financialization are much greater dangers.  Wall Street still running amok is a much greater danger.  Economic/Financial Bubbles bursting are a much greater danger...especially now.  A Police State is a much greater danger.  Outright lies by politicians and bureaucrats such as Clapper and Brennan and Obama and Trump are a much greater danger.  Blatant Propaganda is a much greater danger.  Criminal Mega Banks (whose CEOs think they are Masters of the Universe) are a much greater danger.

The Corporate Media are complicit with other Powers-That-Be (both public & private) in distracting, dividing, and in general, conquering Lower & Middle Class Americans, thus completely destroying the "American Dream".  They all do it not just for money, but for power and control as well.  Finally, once again, it's not any kind of grand "conspiracy".

Not only my opinion.  Be Well

The Powers-That-Be are Lying

The Oligarchs don't lie about everything, but there are several crucial subjects about which they do lie often.  Following are some of those.

1.  Price inflation is stagnant.  The State-Corporate Complex can say this with a straight face because when they figure how much prices have increased, here's what's not included:  the costs of food, housing, and energy.  Those items are not part of what's called "core inflation".  To give credit where it's due, the Powers-That-Be are correct regarding energy costs...even though those are not counted.  Oil has tanked, no pun intended; that's good, but a guy like me drives only about 20 miles per week.  "Low" gas prices don't make up for the constant increases in food and sundry grocery store items.  Manufacturers of those goods either are raising prices outwardly or doing it surreptitiously by shrinking the size of product packages.  Plus, rent for housing in the USA (with a few exceptions) is skyrocketing.  An old dog like me cannot believe how high rental costs are nowadays.

2.  Unemployment in the USA is now 5.X%.  This lie is so egregious as to make one physically sick.  Reputable, credible economists and former Fed Gov't officials all across the political spectrum estimate that the true unemployment rate is somewhere between 20% and 43%.

3.  The Trans-Pacific Partnership (TPP) Agreement will be good for everyday Americans.  The details of that abomination now are finally public; some were released earlier by WikiLeaks, but now we have the entire disaster available for scrutiny.  The critics (such as Lori Wallach of TradeWatch) are saying, "It's worse than we expected.", and they were harsh critics before the full text was released.  I've written about this before, so I won't repeat myself.  The details of this miserable Treaty can be found in lots of places, not the least of which is Citizen.org/TPP.  Promotion of the TPP by many in Gov't, the Corporate Media, and various other Mega Corporations is proof positive that Oligarchs don't give a damn about us.

4.  We are not at War...it's "counter-terrorism"; therefore, Geneva Conventions, Due Process, the Constitution in general, Ethics, and even Morality do not limit us when dealing with "enemy combatants".  That lie is so outrageous and defies Logic so much that I'm beginning to think that George Orwell was the greatest political prophet in all of History...bar none.  The Powers-That-Be are trying to sell us on the concept that the people we're fighting are neither soldiers nor criminals.  Sorry, Oligarchs, they have to be one or the other.  The term, "enemy combatant" is a fiction.  Due Process applies to everyone, even soldiers or criminals.  If it doesn't, we no longer are civilized, ethical beings.

5.  It is necessary to monitor everyone in the National Surveillance State.  Good grief, that is pure, unadulterated Propaganda...it's bullshit to the Nth Degree.  Why people are buying into that is beyond my comprehension.  Have mercy.

6.  We are in an Economic Recovery.  That statement is so blatantly ridiculous it defies not only Logic, but the imagination as well.  All one has to do to see it's not true is take a little time to do a serious, critical study of our economic condition...utilizing a wide variety of credible sources while ignoring Propaganda from the State-Corporate Complex.  The USA, and most of the world, is in a deep Recession and heading for a Depression that very well may be worse than the one in the 1930's.
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It's important to keep in mind that when it's "crunch time", when Institutions are in a bind, any Institution will protect itself rather than individuals or Individual Rights.  Natural Rights, possessed by all people, will be sacrificed by any Oligarchy upon the altar of expediency.  It is Institutions that constantly must be monitored...by us.  Remember the words of an Eastern philosopher:  we be many; they be few.  That is precisely why we are inundated totally with Propaganda from the State-Corporate Complex.  It's important to us and future generations that we think critically, speak out, deny unwarranted power to Institutions run amok, boycott those entities that trash Natural Rights, and do it all peacefully.  Violent actions beget more violence and complete suppression of the individual.

Not only my opinion.  Be Well