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

Claiming We're in an Economic Recovery is Absurd

Nevertheless, that's what the Corporate Media, the Fed Reserve, DC politicians, and the rest of the Establishment are doing.  It goes back to the last part of the Obama Era, and now includes Trump & Crew.  Let's examine several of the reasons why such a claim is absolutely false...at least, false when it comes to the overwhelming majority of Americans.  Not all, but much of the info below is taken from the U.S. National Debt Clock... usdebtclock.org

[NOTE:  Number 1 below was edited on 2-24-18.  Number 3 was edited 3-14-18...the amount of our National Debt, now just a hair away from $21 trillion.]
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1.  The current median income for individual workers is $31,654 per year; in the year 2000, it was $31,229.  Wow, what a booming increase... not.  For those who may have forgotten parts of their old math & statistics courses, "median" gives a better sense of things than does "average".  With "average", the millionaires & billionaires skew the results.  When we use "median income", that means half the workers make less than $31K+change.  HALF.  There was a time when $31K/year was a decent income; that's long gone.

2.  The current number of unemployed is more than double the number claimed by the Feds/Trump.  [See the piece/post immediately prior to this one... and the Debt Clock.]

3.  The National Debt was $2.6 trillion in 1988, and the Debt to GDP ratio was 49%.  Currently, the National Debt is $20.96 trillion (edited 3-14-18), and the Debt to GDP ratio is about 105% (the last number is for 2017).  [In 1980, our National Debt was only $906 billion, not even one trillion.  The Reagan Era more than doubled that number.]  The point being:  these numbers are a major reason for the world losing confidence in the Dollar... with fiat currency having no intrinsic worth, the only reason people value it is because of confidence.  Trump & Crew are well on their way to increasing the National Debt by trillions more.  Don't believe the Propaganda that all will balance out because of increased jobs resulting in more income tax revenue.  Reagan said the same thing, but the Debt almost tripled.

4.  The IMF has launched a ten-year program/plan that will replace the Dollar as the world's reserve currency.  The negative impact on our economy will be significant.

5.  The Establishment touts the claim that wages have risen 2.9%.  [I don't recall over what time span.]  Never mind about half of that is lost to the hidden tax known as price inflation.  With the current median income (see number 1 above), the increase comes to $76 per month... not too exciting.  With the minimum wage, the increase comes to 21 cents per hour... appreciated, I imagine, but not cause for celebration.

6.  Toward the end of March (next month),  several countries will start accepting Chinese Yuan in exchange for oil.  That will be the beginning of the end for the almighty PetroDollar.  Within a very short time, the Bretton Woods international monetary system will be no more.  The Dollar will suffer significantly; because of increased inflation, it will lose even more of its purchasing power than it already has lost.

7.  The overall worldwide Debt Bubble (public & private debt) is at a record high level.  All financial bubbles burst; in all of history, there hasn't been one that didn't.  The Debt Bubble dwarfs all the others; that's true even if only public debt is considered.

8.  The U.S. Bond Market is collapsing.  It's not the only one in the world doing so.  Bond markets collapse because of approaching insolvency... at least, that's one of the major reasons.

9.  Bizarre financial derivatives still are running at full speed.  They have only window dressing restraints from the Feds.

10.  When the Establishment reveals the monthly Jobs Report, it never gives important details:  how many of those jobs are minimum wage, and/or part-time, and/or temporary?  Currently, there are over 27 million part-time workers in the USA.  The Debt Clock doesn't indicate how many of those would prefer a full-time job... but I suspect that most would.

11.  Trump & Crew are making it easier for the Fed and Mega Banks to transfer wealth from the majority of Americans to those in the Upper Crust.

12.  In general, the permanent Tax Cut gift given to the Rich by Trump & Congress will not result in capital expansion of business enterprises.  The Rich and Super-Rich will put those tax break savings elsewhere.  I suspect every one of them knows that a Crash is coming... and that it's unavoidable.  Their primary concern is to protect their families & their wealth.
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Not only my opinion.  Be Well

Are Most Adult Americans Totally Bamboozled by Propaganda?

Most of the time, it seems so to me.  For the life of me, I cannot figure out why most of my fellow citizens appear to either believe, or alternatively, to not object to the following falsehoods.

1.  Our Presidents can issue pretty much any Executive Orders that they so desire.  [Any 12th-grader reading Article II, Section 2 of the United States Constitution easily could determine that only two such Orders are permitted:  the Pres can order his/her Department Heads (or any one of them) to submit a Report on anything having to do with their individual Departments; and, the Pres can order a Pardon for a convicted criminal...except in the case of Impeachment.  That's it...those are the only two Exec Orders permitted by the Supreme Law of the Land.  Presidents usually justify others by citing some general duty of theirs to protect or defend the United States.  Any such duty cannot legally contravene other parts of the Constitution.  Well, maybe it can in Alice's Wonderland or some other la-la, loony tunes Land...but to allow such actions permits the Executive Branch to make Laws... and that's a function expressly reserved to the Congress.  With that power, a President essentially is a Feudal King.]

2.  Our Presidents legally can have our military cross an international border, bomb that country, and kill people without Congress declaring war.  [This has been going on since the end of WW II.  Politicians usually justify it in one of two ways:  by claiming the action is not war; or, by citing some LAW passed by Congress that allows the Pres to choose when & where to engage in war.  In the first case, I refer you to the Korean Conflict (the official name) in the 1950's, the Vietnam Conflict (the official name) in the 1960's and 1970's, and the Counter-Terrorism activities of Bush-Obama.  In the second case, I refer you to the War Powers Act.  Those justifications are blatantly wrong because in the first case, if you bomb a country & kill people, it's ridiculous to claim you're not at war; in the second case, no Law trumps the Constitution.  That's why it's called the SUPREME Law of the Land.]

3.  The gravest, most dangerous threat to the USA is that of Islam.  [You have a bigger chance of being killed by lightning than by the comparatively few criminals who are so-called jihadists.]  Because of that "threat", we must willingly sacrifice certain Rights in order to be "safe".  [These beliefs by seemingly many Americans are at once ridiculous, tragic, and comical.  Can't anyone reason anymore?  Can't anyone recognize manipulative Propaganda anymore?  Can't anyone see how the Powers-That-Be are eliminating our Right to be Free with this BS?]

4.  Our Economy is "recovering".  Unemployment is now at "4.9%"...[or some other equally & wildly inaccurate low number.]  The Stock Market is rebounding and soon will be in great shape again.  Manufacturing is on the mend.  [Those claims are beyond the pale...completely asinine.  The Powers-That-Be are so used to most Americans accepting their outright lies that such lies have become larger and more numerous in recent years.  See several of my past posts for an alternative view... or see almost any non-corporate media source for something much, much closer to the truth.]

5.  Donald Trump, or Ted Cruz, or Hillary Clinton, or Bernie Sanders, or any of the other current candidates will make good on their promises... and really make a difference in our lives.  [Please.  Not without Congress they won't... unless they do it illegally by Exec Order.  Furthermore, keep in mind that the President represents the State (as in Statism), not the People.  We the People supposedly are represented by the Congress, not the Executive Branch... although, with all the Crony Capitalism and corruption in the Gov't, even the concept of Congress representing us is highly questionable.  The only way out of this political mess is by means of peaceful outside pressure.  No one inside the Rotten System ever will be able to change much of anything...not anymore.  The fact is, we live in a criminal Fascist State... criminal at the highest levels.  The Supreme Law of the Land is violated by Gov't Elites on an almost daily basis.  Don't ever think that one has to be a Judge or Attorney-at-Law in order to comprehend the Constitution.  That document is long-winded in parts, but it's very plainly written and fairly easy to understand.  Most politicians ignore most of it.  Where's the outrage over that?]

Not only my opinion.  Be Well

Oligarchs Are Trembling on Several Fronts

Open to anyone who knows how to do "library" research, public sources are revealing at a rapid rate how/why the Oligarchs (public & private) are getting extremely worried.  I don't have the time or energy to delineate all their areas of concern, but here are a few.

1.  Guatemala---
There is a peaceful, popular uprising going on there right now.  For the time being, its focus is on corruption in the Gov't, a gov't backed by the highest levels of the USA Gov't.  The worry is that if the Guatemalan Gov't topples, focus then may shift to the dark deeds of the current President back when he was a CIA operative, a Colonel & later a General in the Guatemalan Army & Intelligence Service, and led Death Squads which slaughtered Mayan people in Guatemala.  The pretense for the slaughter was that the Mayans were the Boogie-Men of Choice back then, communists.  This was all fully backed by the U.S. Gov't. & Reagan.

The Fed Gov't here has had Guatemala as a pet project ever since the early 1950's, when Edward Bernays was hired to develop & implement his unique style of propaganda falsely showing that the democratically elected President of Guatemala was a Communist.  The guy wasn't a Communist, but he was overthrown.  The old United Fruit Company then essentially ran Guatemala for years & years.  Now we have the corrupt President of Guatemala, the Oligarch Molina (the former Death Squad Colonel), being propped up by the Obama Administration.  Public and private Oligarchs always are concerned when it looks as though some Populist movement may be successful in installing a genuinely democratic government.  I say "genuinely" because simply having elections doesn't guarantee a democracy.

2.  Black Monday---
 Monday, August 24, 2015 the Wall Street Market opened and lost 1,000 points in short order.  It recovered about half of that by day's end, but Wall Streeters and the Fed Gov't were shaken to the core.  The President's Working Group on Markets (or some similar title, can't remember), the so-called "Plunge Protection Team", made valiant efforts to help...largely to no avail.  The Fed Reserve, part of the Team, did what it could but with little effect.  The Corporate Media presently are claiming that the situation is now essentially back to normal...but that the Market remains "volatile".

Volatile, indeed.  According to several reputable analysts (e.g., Paul Craig Roberts and James Rickards), the Stock Market has been enjoying an "Asset Bubble" that is propped up by the Fed Reserve...and the Ponzi Party is almost over.  What the Oligarchs are worried about is as follows:  1. the elephant in the room--- the Bubble of the $1.25 quadrillion worth of bizarre financial derivatives floating around out in the marketplace,  2. the gargantuan amounts of currency being pumped into the world monetary system, and 3. loss of confidence in the dollar.  The number one priority of any U.S. Administration is to preserve the perception that the dollar is strong.

3.  The Exposure of Gold Price Manipulation---
Revelations of this manipulation have become more numerous recently.  Not only are central banks, mega commercial banks, and mega Hedge Funds manipulating the price of gold (keeping it from rising), but now (according to James Rickards & others) the evidence strongly suggests that the highest levels of governments---including the USA---also are involved.  [This is not news to those intimately involved in the gold market.]  The demand for physical gold is through the roof, so much so that the available supply is almost completely dry.  That means the price should be through the roof as well, but (given today's inflated dollar), it's not.  Hmmm.  Oligarchs need to keep the price of gold relatively low because a high price indicates that the dollar is weak.  That's the very last perception the Oligarchy wants out in the world.

Along with the idea above, the Oligarchs are worried that their "Recovery" Propaganda is failing.  It's becoming more obvious every day that we still are in a recession...and that a depression may be close at hand.  Some analysts claim that the coming economic collapse will make the 1930's look like a picnic.  I don't believe that any prognosticator can say such a thing with any degree of certainty; nevertheless, even I can see that things are not looking good.  Despite what our Gov't reports, unemployment is relatively high, quality jobs are evaporating while inferior jobs proliferate, the prices of goods & services steadily are creeping up, Wall Street remains a giant casino, wages essentially continue their 30-year stagnation, the 700% rise in income (over 30 yrs) for the upper crust continues, "Free Trade" Agreements on steroids (which offshore manufacturing & jobs) are being pursued by Repubs & Dems, and many of the WORKING poor still qualify for public assistance programs.  The Corporate Media say that the "Recovery" still is "fragile".  It should be obvious that there is no Recovery.  We're still in a recession...and sliding rapidly into a depression.  Of course, that only applies to the Poor and Middle Classes.  The Oligarchs (the top 1%, or some say, the top one-tenth of 1%) are doing just fine.

Not only my opinion.  Be Well