Category: Economy

Congress Spending Surge is National Suicide

Guest Post by Ron Paul

With a national debt approaching $23 trillion and a trillion dollar deficit for this year alone, Congress last week decided to double down on suicidal spending, passing a two year budget that has the United States careening toward catastrophe. While we cannot say precisely when the economic crash will occur, we do know that it is coming. And last week Congress pounded down on the accelerator.

We are told that the US economy is experiencing unprecedented growth, while at the same time the Fed is behaving as it does when we are in recession by cutting rates…and dodging insults from the President because it’s not cutting fast enough. This is not economic policy – it’s schizophrenia!

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Hold the Teddy Bears and Candles

Guest Post by Jim Kunstler

In a nation afflicted by fads, crazes, manias, and rages, mass murder is the jackpot for nihilists — begging the question: why does this country produce so many of them? Answer: this is exactly what you get in a culture where anything goes and nothing matters. Extract all the meaning and purpose from being here on earth, and erase as many boundaries as you can from custom and behavior, and watch what happens, especially among young men trained on video slaughter games.

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Trust Nothing

Guest Post by The Zman

The official story on the seditious plot to overturn the 2016 election is that nothing happened and citizens should return to the economic duties. A few over-enthusiastic agents engaged in nothing more than office gossip. All is well. Like everything that comes from the rulers, this is all nonsense, but this is just how things are with a highly corrupt ruling class. The rulers don’t lie because they are hiding something. They lie because they take pleasure in humiliating the people.

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Currency War Begins: Chinese Yuan Crashes Past 7 To New Record Low; Global Markets Tumble After Beijing Suspends US Agri Imports

Via ZeroHedge

Update 2: – China’s central bank has confirmed that it is, indeed, on, saying that it is able to keep the yuan exchange rate at a reasonable and balanced level – whatever that means – while acknowledging that the Yuan plunging beyond 7 per dollar is due to market supply and demand, trade protectionism and expectations on additional tariffs on Chinese goods.

Meanwhile, resorting to its old, tired and worn out tricks, Dow Jones reports that the PBOC will crack down on short-term Yuan speculation, and anchor market expectations.

Which is great… if only the PBOC didn’t say exactly the same back in May, when it warned currenct traders that  those “shorting the yuan will inevitably suffer from a huge loss.”

Three months later, it’s currency traders 1 – Beijing 0.

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The Next Lehman Moment – Threat to the Global Economy the Fed Responded to

Guest Post by Martin Armstrong

I am overseas as a crisis is brewing which many might rename the “Lehman Moment” to something more up to date. Clearly, the stakes are far higher to the world economy than anyone may truly appreciate. We are cascading toward a perfect financial storm. However, this particular storm is exacerbated by the politics of Europe stemming from the structural design of the Euro. There is a major risk to both the European and world economy.

All the Quantitative Easing by Draghi at the European Central Bank (ECB) has completely failed and in the process created a systemic risk to the entire world economy – not just the EU. This is why the Federal Reserve (Fed) has lowered interest rates when there was no true justification for the interest rate reduction domestically. The Fed has confirmed that it is indeed the central bank to the world even if it does not like that role. It can no longer place domestic policy objectives over international.

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The Real Threat To Civilization Is Our Liberal Elites

Guest Post by Kurt Schlichter

The Real Threat To Civilization Is Our Liberal Elites

You look at the Democratic debaters and you despair. It’s a hackneyed collection of motley mediocrities that includes, among other things, an unrepentant crusty commie, an ersatz squaw, a golddigging narc, a handsy grandpa, a furry, and a New Age weirdo who unironically channels Oddball from Kelly’s Heroes.

To quote the gender fluidity pioneers of Twisted Sister, America, if that’s your best, your best won’t do.

Now, we’re supposed to ignore their undeniable lousiness because we’re in a crisis. The crisis appears to be that our elite has been denied total power via the defeat of Felonia Milhous von Pantsuit, but that’s not how they sell it. It’s a crisis of rampant bigotry. It’s a crisis of foreigners not being subsidized by Americans. It’s a crisis of the weather maybe being different in a century. But these crises share one thing in common: only the liberal elite can save us.

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THIS DAY IN HISTORY – Ronald Reagan fires 11,359 air-traffic controllers – 1981

Via History.com

On August 5, 1981, President Ronald Reagan begins firing 11,359 air-traffic controllers striking in violation of his order for them to return to work. The executive action, regarded as extreme by many, significantly slowed air travel for months.

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QUOTES OF THE DAY

“It is the first responsibility of every citizen to question authority.”

Benjamin Franklin

“Politicians need human misery.”

L. Neil Smith

“The securest place is a prison cell, but there is no liberty.”

Benjamin Franklin

“Civilization is the progress toward a society of privacy. The savage’s whole existence is public, ruled by the laws of his tribe. Civilization is the process of setting man free from men.”

Ayn Rand

Trump To Address Nation Monday Over Mass Shootings, Says More Gun Control May Be Needed

Via Zero Hedge

In the wake of multiple mass shootings over the weekend, President Trump told reporters in Morristown Airport before departing for the White House on Sunday that “hate has no place in our country and we’re going to take care of it.”

As The Hill reports, Congressional Democrats, 2020 presidential candidates and others have rushed to draw comparisons between the motives of the El Paso shooter and Trump’s immigration rhetoric and suggested he helped fuel the environment that led to the attack.

Notably, however, even Trump nemesis, former FBI Director, Jim Comey admitted in his latest op-ed (albeit in the 20th paragraph) that:

“according to a ‘manifesto’ widely attributed to him, the Texas terrorist who killed at least 20 people in El Paso on Saturday wasn’t directly motivated by Donald Trump…”

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Connor Betts: 5 Fast Facts You Need to Know

Via Heavy

connor betts

Connor Betts was named by police as the body armor-wearing, masked gunman who fatally shot at least 9 people, including his own sister, while wounding at least 27 more, in a popular bar and restaurant district in Dayton, Ohio.

Betts was 24 and from Bellbrook, Ohio. Witnesses said he was wearing all black when he opened fire. Betts was killed by police, with six officers firing at least one round, and officials said the carnage might have been even worse were it not for their quick response.

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FOURTH TURNING ECONOMICS

“In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses and further emergencies. The core elements of these scenarios (debt, civic decay, global disorder) will matter more than the details, which the catalyst will juxtapose and connect in some unknowable way. If foreign societies are also entering a Fourth Turning, this could accelerate the chain reaction. At home and abroad, these events will reflect the tearing of the civic fabric at points of extreme vulnerability – problem areas where America will have neglected, denied, or delayed needed action.” – The Fourth Turning – Strauss & Howe

Image result for total global debt 2019

The quote above captures the current Fourth Turning perfectly, even though it was written more than a decade before the 2008 financial tsunami struck. With global debt now exceeding $250 trillion, up 60% since the Crisis began, and $13 trillion of sovereign debt with negative yields, it is clear to all rational thinking individuals the next financial crisis will make 2008 look like a walk in the park. We are approaching the eleventh anniversary of this crisis period, with possibly a decade to go before a resolution.

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Deadliest mass shootings in modern US history

Why were there no mass shootings in the 1970s? Does the mood of the country in relation to generational turnings contribute? Is this a Fourth Turning thing?

Via Mercury News

Here is a list of the deadliest single day mass shootings in US history from 1949 to the present.

If the shooter was killed or died by suicide during the incident, that death is not included in the total.

Events:
58 killed – October 1, 2017 – In Las Vegas, 64-year-old Stephen Paddock of Mesquite, Nevada, sprays gunfire on a crowd of 22,000 concertgoers from the 32nd floor of the Mandalay Bay Resort and Casino, killing 58 people and injuring almost 500. Witnesses say the gunshots last between 10 and 15 minutes. Officers breach Paddock’s hotel room to find him dead. Authorities believe Paddock killed himself and that he acted alone.

49 killed – June 12, 2016 – Omar Saddiqui Mateen, 29, opens fire inside Pulse, a gay nightclub, in Orlando. At least 49 people are killed and more than 50 are injured. Police shoot and kill Mateen during an operation to free hostages officials say he was holding at the club.

32 killed – April 16, 2007 – Virginia Tech in Blacksburg, Virginia. A gunman, 23-year-old student Seung-Hui Cho, goes on a shooting spree killing 32 people in two locations and wounding an undetermined number of others on campus. The shooter dies by suicide.

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All Times are Interesting Times

Robert Bronsdon (Hollywood Rob) August 2019

The appointed hour of 9am arrives and we all pile into the rented Escalade for the run up the coast to Monterey.  Six people on six different trips, all in the same car.

The music plays from a thumb drive stuffed into the dash.  The teens in the back I am quite sure hated it, but the four adults loved it.  The temperature inside the car is controlled by the car system which is actually really helpful because at any given time we might be driving alongside the ocean where the temperature is in the 50’s or we might be more inland where it is well over 90F.

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