by Charles Hugh Smith We're ceaselessly told/sold that the U.S. economy is doing phenomenally well in our current slow-growth world — generating record corporate profits, record highs in the S&P 500 stock index, and historically low unemployment (4.9% in July 2016). While GDP growth is somewhat lackluster by historical standards—less than 2% in 2016—it's … Continue reading Reality of the “Trickle Down” (false) economy
More than 10,500 Brits have registered their interest to consider moving to New Zealand, following the UK's unprecedented decision to exit the EU New Zealand has seen a ten-fold increase in Brits seeking to move, in the 49 days since the referendum result. The New Zealand Herald ran a front-page story on Monday (August 22), warning Kiwi citizens to brace … Continue reading New Zealand bracing for “British Invasion”
What sense does it make to have zero interest rates when high inflation is eating away the real value of money? What sense does it make to have high price/earnings ratios when the consumer market cannot expand? What sense does it make to have a stable dollar when the Federal Reserve has created far more dollars than the economy has created goods and services? What sense does it make to undermine the financial condition of pension funds and insurance companies with zero interest rates, leaving them with no fixed income hedge against the stock market?
It makes no sense. We are in a trap in which collapse seems the only way out. If interest rates reflected the real rate of inflation, the hundreds of trillions in derivatives would blow up, the stock market would collapse, unemployment could not be hidden with under-measurement, budget deficits would rise. What would public authorities do?
When crisis hits, what happens to corporations that used profits and borrowed money, that is, debt, to buy back their own stocks in order to keep the price high and, thereby, executive bonuses high and shareholders happy and disinclined to support takeovers? Chaos and its companion Fear take over from Contentment. Hell breaks loose.
Is more money printed? Does the money find its way into consumer prices? Do we experience simultaneously massive inflation and massive unemployment?
Don’t expect the presstitutes, the politicians, or Wall Street to confront any of these questions.
When the crisis occurs, it will be blamed on Russia or China.
From the Strategic Culture Foundation, by Paul Craig Roberts
Trump and Hitlery have come out with the obligatory “economic plans.” Neither them nor their advisors, have any idea about what really needs to be done, but this is of no concern to the media.
The presstitutes operate according to “pay and say.” They say what they are paid to say and that is whatever serves the corporations and the government. This means that the presstitutes like Hitlery’s economic plan and do not like Trump’s.
Yesterday I listened to the NPR presstitutes say how Trump pretends to be in favor of free trade but really is against it, because he is against all the free trade agreements such as NAFTA, the Trans-Pacific and Trans-Atlantic partnerships. The presstitutes don’t know that these are not trade agreements. NAFTA is a “give away American jobs” agreement, and the so-called partnerships give away the…
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On an afternoon stroll through the cobblestone streets of Florence, Italy, you might stumble into a nearby market and pick up some fresh produce for dinner. Maybe you’d even pop into a local boutique to try on the latest designs, and perhaps you’d end the afternoon with a cup of gelato and a visit to the Piazza della … Continue reading Why a City’s “Walkability” Matters
Writing in The Wall Street Journal, Peggy Noonan explained perfectly…
The larger point is that this is something we are seeing all over, the top detaching itself from the bottom, feeling little loyalty to it or affiliation with it.
It is a theme I see working its way throughout the West’s power centers.
At its heart it is not only a detachment from, but a lack of interest in, the lives of your countrymen, of those who are not at the table, and who understand that they’ve been abandoned by their leaders’ selfishness and mad virtue-signalling.
Revolution is closer than you think…
Following Angela Merkel’s earlier calls for German CEOs to hire refugees, and as Martin Armstrong notes, Germany has raided its healthcare funds to support the refugee crisis…
The government passed a law that allows them to take 1.5 billion euros from the liquidity reserve of the public health care fund (10 billion euros in total, paid by all members and additionally by the taxpayer) and to give that money to refugees / asylum seekers.
What would you call this? Insane?
As VoxDay noted appropriately, Germany’s elite is going to get a well-deserved one soon as German President Joachim Gauck was booed and attacked in the streets of Sebnitz, Saxony after he blurted out the following unbelievbable statement:
“The elites are not the problem, the people…
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