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Peter Schiff: ‘This Is The Beginning Of The End’ For The Economy
Peter Schiff: ‘This Is The Beginning Of The End’ For The Economy
Peter Schiff, the President and CEO of Euro Pacific Capital, and one of the few who predicted the 2008 Great Recession before it happened has said that what we are experiencing now is “the beginning of the end.” Schiff made his comments during his keynote speech at the Vancouver Resource Investment Conference.
The economic guru says that the Federal Reserve has made the decision to halt interest rate hikes in order to attempt to save the flailing stock market – the key indicator for far too many of how “healthy” the economy is at current. According to Seeking Alpha, the markets responded to the Fed’s decision in a positive manner, leading many to think we are “out of the woods” and no longer in danger of a recession.
However, Peter traces the moves of the Federal Reserve all the way back to the first rate hike of December 2015 and shows how the central bank has put the United States on a path toward a financial crisis that will be bigger than 2008. Peter insists he’s been right about what would happen all along, it’s just taken us a little longer to get to the actual financial disaster than he expected.
“The reason that I originally said that I did not expect the Fed to raise rates again was because I knew that raising rates was the first step in a journey that they could not finish, that in their attempt to normalize rates, the stock market bubble would burst and the economy would reenter recession.
Normalizing interest rates when you’ve created an abnormal amount of debt is impossible.
…click on the above link to read the rest of the article…
The U.S. Faces A Catastrophic Food Supply Crisis In America As Farmers Struggle
The U.S. Faces A Catastrophic Food Supply Crisis In America As Farmers Struggle
American farmers are battling several issues when it comes to producing our food. Regulated low prices, tariffs, and the inability to export have all cut into the salaries of farmers. They are officially in crisis mode, just like the United States’ food supply.
“The farm economy’s in pretty tough shape,” said John Newton, chief economist at the American Farm Bureau Federation. “When you look out on the horizon of things to come, you start to see some cracks.” Average farm income has fallen to near 15-year lows under president Donald Trump’s policies, and in some areas of the country, farm bankruptcies are soaring. And with slightly higher interest rates, many don’t see borrowing more money as an option. “A lot of farmers are going to give the president the benefit of the doubt, and have to date. But the longer the trade war goes on, the more that dynamic changes,” said Brian Kuehl, executive director of Farmers for Free Trade, according to Politico.
With no end to the disastrous trade war in sight, many farmers have traveled to Washington to share their plights with the president himself hoping that he’ll end the trade war that’s exacerbating an already precarious food crisis. Farmers make up a fairly large chunk of president Trump’s base, and an unwillingness to put food production in the United States first could be detrimental for Trump reelection chances in 2020. It could also be the beginning of a catastrophic food shortage.
The Federal Reserve Bank of Minneapolis warned back in November of rising Chapter 12 bankruptcies used by family farmers to restructure massive amounts of debt. The Fed said that the strain of low commodity prices “is starting to show up not just in bottom-line profitability, but in simple viability.”
…click on the above link to read the rest of the article…
Apocalyptic Debt Crisis In America: 63 Of America’s Largest 75 Cities Are COMPLETELY BROKE
Apocalyptic Debt Crisis In America: 63 Of America’s Largest 75 Cities Are COMPLETELY BROKE
The debt crisis in the United States of America has reached apocalyptic proportions. A new and horrifying report out details the reason why 63 of America’s largest cities are completely broke: debt and overspending.
According to a recent analysis of the 75 most populous cities in the United States, 63 of them can’t pay their bills and the total amount of unfunded debt among them is nearly $330 billion. Most of the debt is due to unfunded retiree benefits such as pension and health care costs. That means those depending on that money, likely won’t see a dime of it.
“This year, pension debt accounts for $189.1 billion, and other post-employment benefits (OPEB) – mainly retiree health care liabilities – totaled $139.2 billion,” the third annual “Financial State of the Cities” report produced by the Chicago-based research organization, Truth in Accounting (TIA), states. TIA is a nonprofit, politically unaffiliated organization composed of business, community, and academic leaders interested in improving government financial reporting.
“Many state and local governments are not in good shape, despite the economic and financial market recovery since 2009,” Bill Bergman, director of research at TIA, told Watchdog.org.
The top five cities in the worst financial shape are New York City, Chicago, Philadelphia, Honolulu, and San Francisco. These cities, in addition to Dallas, Oakland, and Portland, all received “F” grades. In New York City, for example, only $4.7 billion has been set aside to fund $100.6 billion of promised retiree health care benefits. In Philadelphia, every taxpayer would have to pay $27,900 to cover the city’s debt. In San Francisco, it would cost $22,600 per taxpayer.
…click on the above link to read the rest of the article…
Google Manipulated YouTube Search Results To Program Users’ Behavior
Google Manipulated YouTube Search Results To Program Users’ Behavior
In a new leak that can be accurately labeled “the smoking gun,” Google has been busted manipulating search results on YouTube in order to manipulate social behaviors and control minds. An internal discussion thread leaked to Breitbart Newsreveals that Google regularly intervenes in search results on its YouTube video platform.
According to Breitbart, the existence of the blacklist (terms Google considered sensitive) was revealed in an internal Google discussion thread leaked to Breitbart News by a source inside the company who wishes to remain anonymous. A partial list of blacklisted terms was also leaked to Breitbart by another Google source. Some of the blacklisted terms included “abortion,” and terms related to the Irish abortion referendum, Democratic Congresswoman Maxine Waters, and anti-gun activist and communist, David Hogg.
In the leaked discussion thread, Breitbart further reported that a Google site reliability engineer hinted at the existence of more search blacklists, according to the source. “We have tons of white- and blacklists that humans manually curate,” said the employee. “Hopefully this isn’t surprising or particularly controversial.”
According to the source, the software engineer who started the discussion called the manipulation of search results related to abortion a “smoking gun.”
The software engineer noted that the change had occurred following an inquiry from a left-wing Slate journalist about the prominence of pro-life videos on YouTube and that pro-life videos were replaced with pro-abortion videos in the top ten results for the search terms following Google’s manual intervention.
“The Slate writer said she had complained last Friday and then saw different search results before YouTube responded to her on Monday,” wrote the employee. “And lo and behold, the [changelog] was submitted on Friday, December 14 at 3:17 PM.” –Breitbart
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Russia Backs Away From Dollar AGAIN: Shifts $100 Billion To Yuan, Yen, And Euro
Russia Backs Away From Dollar AGAIN: Shifts $100 Billion To Yuan, Yen, And Euro
Russia is continuing to ramp up its efforts to move away from the American dollar. The country just shifted $100 billion of its reserves to the yuan, the yen, and the euro in their ongoing effort to ditch the dollar.
The Central Bank of Russia has moved further away from its reliance on the United States dollar and has axed its share in the country’s foreign reserves to a historic low, transferring about $100 billion into euro, Japanese yen, and Chinese yuan according to a report by RT. The share of the U.S. dollar in Russia’s international reserves portfolio has dramatically decreased in just three months between March and June 2018. The holding decreased from 43.7 percent to a new low of 21.9 percent, according to the Central Bank’s latest quarterly report, which is issued with a six-month lag.
The money pulled from the dollar reserves was redistributed to increase the share of the euro to 32 percent and the share of Chinese yuan to 14.7 percent. Another 14.7 percent of the portfolio was invested in other currencies, including the British pound (6.3 percent), Japanese yen (4.5 percent), as well as Canadian (2.3 percent) and Australian (1 percent) dollars.
The Central Bank’s total assets in foreign currencies and gold increased by $40.4 billion from July 2017 to June 2018, reaching $458.1 billion. –RT
Russian and others have been consistently moving away from the dollar and toward other currencies. Economic sanctions, which are losing their power as more countries move from the dollar, and trade wars seem to be fueling the dollar’s uncertainty.
Russia began its unprecedented dumping of U.S. Treasury bonds in April and May of last year.
…click on the above link to read the rest of the article…
Doctors See A Spike In Patients ‘Chronic Viral Infection’ Lasting Over One Month
Doctors See A Spike In Patients ‘Chronic Viral Infection’ Lasting Over One Month
Many doctors in Texas are reporting that their patients are suffering from a viral infection for over one month. Although the virus appears to be different to that of the common cold or the flu, it is causing long-term illness.
According to a CBS Local News report, Physicians with Texas Health Dallas are seeing a spike in such cases reported a spokesperson. Additionally, Dr. Gary Gross, who is on staff with Texas Health Dallas, said that this infection can persist four to six weeks and maybe even longer.
“The cough is unusual in two respects,” Dr. Gross said.“Usually, we’ll see a person get a cough or a cold and it will last for a week or 10 days. But this year it’s lasting for like four weeks, six weeks. And it just doesn’t seem to get better.” The other odd thing about this viral infection is that it appears to be spreading quickly; a lot more people have it. According to Gross, he is seeing at least one patient a day with the virus. For perspective, he usually sees one a week at the very most.
Of course, when it comes to viruses, there is no immediate fix. Like the common cold, this persistent cough must run its course. Antibiotics won’t work on a viral infection. “There’s some medicines that have a substance called [DM]. DM is what we usually use. And those medicines that have the DM do seem to calm the cough. There are some other medicines that are prescription that they can get from their doctor,” Gross added. But there isn’t much anyone can do other than drink plenty of fluids and get a lot of rest.
…click on the above link to read the rest of the article…
The $1.2 Trillion College Debt Crisis Is CRIPPLING The Economy
The $1.2 Trillion College Debt Crisis Is CRIPPLING The Economy
A whopping two-thirds of American college students graduate school already deeply in debt. But the decision to go into debt to pay for a college degree is a $1.2 trillion crisis that’s crippling the economy.
According to The Institute for College Access and Success (TICAS) Project on Student Debt, the average borrower will graduate with $26,600 in student loan debt. That means, that before a dollar is made using the degree, most Americans will owe money to someone else. The trend is not doing the economy any favors either. One in 10 graduates will accumulate more than $40,000 in debt and 1% of graduates will accumulate over $100,000 in student loan debt.
According to the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark — $1 trillion of that in federal student loan debt in 2013. That debt currently stands at a whopping $1.5 trillion. Andaccording to a report by Forbes, this is a negative sum game for both the borrowers and the economy. Although taking out massive amounts of debt for college is now the new normal, it’s crippling the economy and the personal financial situations of millions of borrowers.
However, the Pittsburg Post-Gazette says there isn’t a student loan crisis in a recent op-ed. But this information is coming from those who profit off of student loans, such as college presidents. But others say that this is simply a matter of supply and demand and there is more demand than supply. Additional options should be presented to those who have become intent on debt rather than a mandated degree. Educating students on the power of debt should also be considered to help stave off and eventually eliminate this problem.
…click on the above link to read the rest of the article…
4 Bad Ideas That Can Get You Killed When SHTF
4 Bad Ideas That Can Get You Killed When SHTF
In a survival situation, every decision you make is crucial. One wrong move can quickly cost you your life. If you want to survive when SHTF, you should avoid these four bad prepping ideas at all costs.
(h/t to BeansBulletsBandagesAndYou.com)
Drinking unfiltered or unpurified water
Just because the water looks clean doesn’t mean it isn’t clean. If you don’t have a reliable source of clean drinking water, you probably won’t last longer than three days. If you start drinking unclean water out of desperation, your chances of survival could dwindle even lower. Even drinking from clear mountain springs can potentially be harmful to your health, if you don’t filter or purify it first. You could expose yourself to all sorts of waterborne diseases and parasites that are invisible to the naked eye. SHTF will really happen if you have to deal with a serious bout of diarrhea on top of all your other problems. At the very least, you should always boil your water first before drinking it. It isn’t worth it to take your chances otherwise. (Related: Do you have a safe source of water for a SHTF situation? Top 5 water purification mistakes.)
Playing with fire
In order to boil your water, you must first learn how to build a fire. Campfires serve a number of uses, such as cooking and keeping you warm, but you must always be responsible for any fires that you start. If you don’t have the faintest idea of how to build a fire, then you shouldn’t try to build one in the first place. You should also first learn how to properly put out fires before making any attempts at starting them. In the right conditions, it can sometimes only take a few neglected embers to spark a raging wildfire.
…click on the above link to read the rest of the article…
California’s Next Calamity: Storms Compounded By High Tides
California’s Next Calamity: Storms Compounded By High Tides
The wildfires that have taken their toll on California could be just the beginning of the state’s calamities. Now, the high tides of winter are coming and if those tides are worsened by an incoming storm, they could devastate entire cities on the coasts.
On December 10, the National Oceanic and Atmospheric Administration (NOAA) released a report stating there is an 80 percent chance of an El Niño event this winter. Such events are associated with wetter and more intense winter storms. However, NOAA does caution that its data are from September through November and the intensity of the El Niño will not be known for quite some time still.
Tides are determined by the sun and moon’s gravitational pull on the oceans. This warning from NOAA comes as heavy storms bear down on California’s Pacific Northwest. In central and northern California on Monday, waves were as high as 30 feet, with 40- to 50-foot breaks. Coastal flooding and erosion were reported. And sn even-more-powerful storm smacked the region yesterday, prompting flood watches, high-wind alerts, and winter storm warnings across nine states.
According to ABC News, holiday travelers along I-5, which runs north to south through Washington, Oregon, and California, can expect to be drenched with heavy rains. Although that storm has mostly passed and is headed to the Rocky Mountains, California is not out of the woods just yet. High surf warnings were issued by the National Weather Service from Point Conception, California, north of the Los Angeles Basin, to the coast of southwestern Washington, highlighting an especially heightened threat to life and property within the surf zone, reported Weather.com.
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Your Biometrics: Silent Witnesses Against You and Tools to Track You
Your Biometrics: Silent Witnesses Against You and Tools to Track You
Another week has gone by where we have seen a tremendous amount of activity around the world: the French, Belgians, and Dutch are engaged in protests labeled “yellow vest” protests. In actuality, the yellow vests are insignificant: these Euro-Socialist countries require citizens to wear yellow vests in public for protests…for “safety” reasons. Actually it is so that center mass is easier to acquire by their paramilitary police forces. There is a good possibility of a major war escalating from current problems between Ukraine and the separatist provinces of Luhansk and Donetsk. The U.S. phony economy is not doing well.
Quietly and almost unnoticed by the beeves of the American populace are the biometric measures for surveillance and tracking being emplaced by the United States with the cooperation of major corporations. I have written articles on the biometric scanners being used in an Atlanta airport, and that Chicago is following suit, along with Delta using these biometric data collection scanners prior to boarding flights in Los Angeles.
A new article surfaced this week that you need to read. Entitled “FBI plans ‘Rapid DNA’ network for quick database checks on arrestees,” by Tom Jackman on December 13, released by the Washington [Com]Post.
This is very serious, indeed. Here’s an excerpt:
Though DNA has revolutionized modern crime fighting, the clues it may hold are not revealed quickly. Samples of saliva, or skin, or semen are sent to a crime lab by car (or mail), and then chemists get to work. Detectives are accustomed to waiting days or weeks, or longer, for the results. Some labs are so backed up, they take only the most serious crimes. Some samples are never tested.
…click on the above link to read the rest of the article…
Ron Paul: The Market Correction Could Make Things ‘Worse Than 1929’
Ron Paul: The Market Correction Could Make Things ‘Worse Than 1929’
Former presidential candidate, Dr. Ron Paul says that the current market conditions are ripe for a correction of 50% and Wall Street is vulnerable to depression-like conditions in the next year. “It could be worse than 1929,” Dr. Paul said recently in an interview.
Paul said Thursday on CNBC‘s “Futures Now that “Once this volatility shows that we’re not going to resume the bull market, then people are going to rush for the exits.” Paul added that “it could be worse than 1929.” He was referencing the fateful day in October of 1929 when the stock market crashed, and the United States was flung into the Great Depression that lasted ten years. During that year, a worldwide depression was ignited because of the U.S.’s market crash. The stock market began hemorrhaging and after falling almost 90 percent, sent the U.S. economy crashing a burning.
And of course, no one believes it could happen again. But Dr. Paul is continuously warning against the media’s constant optimism. As well-known Libertarian, Paul has been warning Wall Street that a massive market plunge is inevitable for years. He’s currently projecting a 50 percent decline from current levels as his base case, citing the ongoing U.S.-China trade war as a growing risk factor. “I’m not optimistic that all of the sudden, you’re going to eliminate the tariff problem. I think that’s here to stay,” he said. “Tariffs are taxes.” And these tariffs are a direct tax on the American economy and consumer.
Paul places the blame for the inevitable future crash on the Federal Reserve’s “easy money policies” also known as quantitative easing. He contended the Federal Reserve’s quantitative easing has caused the “biggest bubble in the history of mankind.” And this time, it’s an everything bubble.
…click on the above link to read the rest of the article…
In Just 2 Years, US Debt Grew The Size Of The Entire Brazilian Economy
In Just 2 Years, US Debt Grew The Size Of The Entire Brazilian Economy
In a mere two years, the United States debt has massively grown. In fact, the amount of debt the US incurred equaled the size of the entire Brazilian economy.
U.S. government debt is on track this year to rise at the fastest pace since 2012,reported the Los Angeles Times. The strong yet quickly weakening economy is failing to keep pace with the wave of red ink that’s rising under the Trump administration and there appears to be no end to the spending in sight.
The total public debt outstanding has jumped by $1.36 trillion, or 6.6%, since the start of 2018, and by $1.9 trillion since President Trump took office, according to the latest Treasury Department figures. The latter figure is about the size of Brazil’s gross domestic product.
As of Monday, the nation’s debt stood at a record $21.9 trillion. The borrowing is needed to cover a budget deficit that expanded by an estimated $779 billion in Trump’s first full fiscal year as president, the widest fiscal gap in six years, since Barack Obama’s term. By the end of Trump’s first term, the debt is expected to rise by $4.4 trillion despite historically low unemployment, relatively low interest rates and robust growth.
In other words; the United States is actively committing suicide.
All throughout history, great societies have been done in by greed, sloth, corruption and laziness, and we are headed down the exact same path. If we want to survive, emergency surgery is necessary, but at this point nobody is even tending to the dying patient.
SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn YouDebt has become the default, but at some point, the entire system will crumble.
…click on the above link to read the rest of the article…
California Democrat: “I Would Love To…Regulate The Content Of Speech”
California Democrat: “I Would Love To…Regulate The Content Of Speech”
One California Democrat has finally admitted what we all knew, that politicians in government want to end free speech permanently. Representative Ted Lieu said he would “love to be able to regulate the content of speech” during an interview Wednesday.
Lieu admitted that the only reason the government hasn’t punished people for free speech yet is the first amendment. It seems like the United States government and the die-hard statists that vote for these Communists have learned nothing from the Nazis or the Soviet Union. Violently controlling speech (which is exactly what regulation of speech would be) is one of the most egregious of human rights violations.
According to The Free Beacon, Lieu got a lot of attention a day earlier when Google CEO Sundar Pichai testified at a House Judiciary Committee hearing. Pichai took to assailing conservative claims of the tech giant’s bias against them by reading positive and negative stories about Republican Representatives Steve Scalise of Louisiana and Steve King of Iowa, the latter of whom has repeatedly courted controversy with racially charged remarks.
According to Fox News, after CNN host Brianna Keilar praised Lieu for the “clever” stunt during the testimony, she wondered if Democrats should have used more of their time to question the Google leader about how it and other tech companies can work to prevent the spread of conspiracy theories and other online trolling. Meaning, Keilar wants people who say things she dislikes or doesn’t believe to be shut down. She wants to kill freedom of speech for good, not unlike Adolf Hitler.
But for now, at least even though the Nazis in charge obviously want more power and to strip any and all rights from everyone else, Lieu admitted he can’t (yet) regulate speech.
…click on the above link to read the rest of the article…
Peter Schiff: “The American Standard Of Living…It’s Going To Collapse”
Peter Schiff: “The American Standard Of Living…It’s Going To Collapse”
Market analyst and financial guru Peter Schiff says that the United States economy is headed for a disaster. In a recent interview, Schiff said that when the dollar goes away as a reserve currency, so will the American standard of living.
Schiff says the U.S. is flexing more muscle than it has. After the arrest of Huawei chief financial officer, Meng Wanzhou, a Chinese businessman who is accused of violating U.S. sanction laws, the Chinese are already planning economically destructive ways to reduce the dollar’s influence and power.
“The dollar, having the reserve currency, that status is in jeopardy. And I don’t think the world likes giving America this kind of power that we can impose our own rules and demand that the entire world live by it. So, I think this has a much bigger and broader ramifications other than what’s going on in the stock market today. I think long-term, this is going to undermine the dollar and its role as a reserve currency. And when that goes, so does the American standard of living because it’s going to collapse.” –Peter Schiff
Schiff added that he thinks China is in a much better position than many are willing to admit.
“People think we have the upper hand because we have this huge trade deficit with China. But I think it’s the other way. I think the fact that they supply us with all this merchandise that our economy needs, and the fact that they hold a lot of our bonds and continue to lend us a lot of money so we can live beyond our means, they’re the ones, I think, that call the tunes and we have to dance to it.” –Peter Schiff
…click on the above link to read the rest of the article…
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International Monetary Fund: Storm Clouds Of The Next Financial Crisis Are Gathering
International Monetary Fund: Storm Clouds Of The Next Financial Crisis Are Gathering
The International Monetary Fund is sounding the alarms of another global crisis. IMF is warning that the storm clouds are currently gathering for another financial crisis.
According to a report by The Guardian, David Lipton, the first deputy managing director of the IMF, said that “crisis prevention is incomplete” more than a decade on from the last meltdown in the global banking system. Not only that but on an individual basis, people are largely unprepared for a major financial downturn. “As we have put it, ‘fix the roof while the sun shines.’ But like many of you, I see storm clouds building and fear the work on crisis prevention is incomplete,” Lipton said.
Lipton said individual nation states alone would lack the firepower to combat the next recession while calling on governments to work together to tackle the issues that could spark another crash.
“We ought to be concerned about the potency of monetary policy,” he said of the ability of the US Federal Reserve and other central banks to cut interest rates to boost the economy in the event of another downturn, while also warning that high levels of government borrowing constrained their scope for cutting taxes and raising spending. –The Guardian
Lipton said individual nation states alone would lack the firepower to combat the next recession while calling on governments to work together to tackle the issues that could spark another crash. Which is an odd position to take considering the central banks and governments of the world cause recession and economic crises in the first place.
…click on the above link to read the rest of the article…
