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The Masses Are Being Conditioned to Ignore the Economic Bubble

The Masses Are Being Conditioned to Ignore the Economic Bubble

economic crash trade war

In the second week of October, after the “partial” U.S.-China trade deal was announced to much fanfare, I made this prediction:

US and Chinese officials rarely waste an opportunity to use trade talk headlines to head-fake markets with false hope. Rumors of a “partial” or tentative trade deal are circulating today, with MORE trade talks in a month or two. In other words, “more trade talks” means there is no deal of any substance and there’s plenty of time for the whole thing to fall apart once again. I give it less than a month. In the meantime, there will be plenty of other distractions for the general public, including the impeachment circus, tariffs against Europe, tensions in Syria, the Brexit mess, etc, etc.

My estimate was incorrect; it took a little over one month for the whole thing to fall apart. That said, I think the primary point remains the same. The trade war is not going to end anytime soon and there is a very good reason why this is the case: It serves the globalist agenda as a perfect distraction for the collapse of the “Everything Bubble” and the launch of the global economic reset into a what the elites call a “new world order”.

But let’s go back for a moment to understand what just happened. A month ago, the trade deal was treated as essentially done. China had partially folded on most of Trump’s demands and Trump was going to pull off a major economic victory just in time for the 2020 election season. The Dow was going to rocket past 30,000 and Trump’s second term was now assured. This was the narrative in the majority of the alternative media, and I have to say, it is sad to see so many otherwise intelligent analysts make such a huge blunder.

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Debt Bubble to End All Bubbles – Michael Snyder

Debt Bubble to End All Bubbles – Michael Snyder

Journalist and book author Michael Snyder says corporate debt is at record highs standing at $10 trillion. Snyder points out debt is setting records in every aspect of the economy and contends, “If you include all other forms of corporate debt not listed on the stock exchanges, that brings the total to $15.5 trillion, which is equivalent to 74% of GDP. We’ve never seen anything like this before in all of U.S. history. That is just one form of debt and how our society has grown the debt. People need to realize the only reason why we have any prosperity in this country today is because it is fueled by debt. We have been building up this bubble, and it is the bubble to end all bubbles. Look at consumers. U.S. consumers are now $14 trillion in debt, which is an all-time record. State and local governments are at all-time debt record levels. The U.S. government . . . we just hit $23 trillion in debt, more than double since the last financial meltdown. . . . We are stealing from future generations more than $100 million every single hour of every single day. This is a crime beyond comprehension, and it’s been going on more than a decade. . . .All the debt has bought for us is more time to expand the bubble for relative stability. Meanwhile, we are literally committing national suicide and literally destroying the future of this country and the future of this republic. We are destroying everything the founders built by insatiable greed in this generation.”

Snyder says you don’t have to wait for the next recession because it’s already started. Snyder says, “Eventually, this whole thing is going to come crashing down. This thing is not sustainable. Here in the United States, we are already in a manufacturing recession. We are already in a transportation recession.

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47 Percent Of GDP – This Is Definitely The Scariest Corporate Debt Bubble In U.S. History

47 Percent Of GDP – This Is Definitely The Scariest Corporate Debt Bubble In U.S. History

We are facing a corporate debt bomb that is far, far greater than what we faced in 2008, and we are being warned that this “unexploded bomb” will “amplify everything” once the financial system starts melting down. Thanks to exceedingly low interest rates, over the last decade U.S. corporations have been able to go on the greatest corporate debt binge in history. It has been a tremendous “boom”, but it has also set the stage for a tremendous “bust”. Large corporations all over the country are now really struggling to deal with their colossal debt burdens, and defaults on the riskiest class of corporate debt are on pace to hit their highest level since 2008. Everyone can see that a major corporate debt disaster is looming, but nobody seems to know how to stop it.

At this point, companies listed on our stock exchanges have accumulated a total of almost 10 trillion dollars of debt. That is equivalent to approximately 47 percent of U.S. GDP

A decade of historically low interest rates has allowed companies to sell record amounts of bonds to investors, sending total U.S. corporate debt to nearly $10 trillion, or a record 47% of the overall economy.

In recent weeks, the Federal Reserve, the International Monetary Fund and major institutional investors such as BlackRock and American Funds all have sounded the alarm about the mounting corporate obligations.

We have never witnessed a corporate debt crisis of this magnitude.

Corporate debt is up a whopping 52 percent since 2008, and this bubble is continually growing.

And actually the 10 trillion dollar figure is the most conservative number out there. Because if you add in all other forms of corporate debt, the grand total comes to 15.5 trillion dollars. The following comes from Forbes

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America’s trade policy will end up destroying the dollar

America’s trade policy will end up destroying the dollar 

America’s tariffs against China are already showing signs of undermining the global economy and will create a funding crisis for the Federal Government when it leads to foreigners no longer buying US Treasury debt and selling down their existing dollar holdings. A subversive attempt by America to divert global portfolio investment from China by destabilising Hong Kong will force China into a Plan B to fund its infrastructure plans, which could involve actively selling down her dollar reserves and hastening the introduction of a new crypto-based trade settlement currency.

The US budget deficit will then be financed entirely by monetary inflation. Furthermore, the turn of the credit cycle, made more destructive by trade tariffs, is driving the global and US economy into a slump, further accelerating all indebted governments’ dependency on inflationary financing. The end result is America’s trade policies have been instrumental in hastening the end of the dollar as the world’s reserve currency, ultimately leading to its destruction.

Introduction

For almost two years President Trump has imposed various tariffs on imported Chinese goods. He advertised his tactics as hardball from a tough president who knows the art of the deal, taking his business acumen and applying it to foreign affairs. He even proudly described himself as a tariff man.

His opening gambit was to impose tariffs on some goods to get leverage over the Chinese, with the threat that if they didn’t cooperate, then further tariffs would be introduced. The Chinese declined to be cowed by threats, introducing tariffs themselves on US imports, particularly agricultural products, to bring pressure to bear in turn on President Trump. 

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US Enraged After 6 More EU Nations Join INSTEX To Bypass Iran Sanctions

US Enraged After 6 More EU Nations Join INSTEX To Bypass Iran Sanctions

On Friday six European countries issued a bombshell joint statement declaring their intent to join INSTEX, or the Instrument in Support of Trade Exchanges, a European special-purpose vehicle serving as a ‘SWIFT alternative’ to bypass US sanctions on Iran. 

Finland, Belgium, Denmark, Netherlands, Norway, and Sweden released a joint statement asserting it’s of “the utmost importance to the preservation and full implementation of the Joint Comprehensive Plan of Action (JCPoA) on Iran’s nuclear program by all parties involved.”

“In light of the continuous European support for the agreement and the ongoing efforts to implement the economic part of it and to facilitate legitimate trade between Europe and Iran, we are now in the process of becoming shareholders of the Instrument in Support of Trade Exchanges (Instex) subject to completion of national procedures,” the statement reads.

The Foreign Minister of Finland Pekka Haavisto alongside Foreign Minister of Iran Mohammed Javad Zarif. AP Photo

Instex is an initiative set up by France, Germany and the UK in January 2019 to provide humanitarian and sanctions relief to Iran after in November 2018 the SWIFT network suspended Iranian banks under Washington pressure, months after Trump pulled the US out of the nuclear deal.

Though the new alternative financial device had shaky beginnings amid further aggressive threats from the US administration, it continued through a trial phase even though Tehran officials had complained it appeared ‘too little, too late’.

But now as this latest six country statement announces, it will serve as the European vehicle to “facilitate legitimate trade between Europe and Iran,” while also providing incentive for Tehran to return to its commitments under the JCPOA, specifically to recently breached uranium enrichment limits. Upon the announcement, US Ambassador to Germany Richard Grenell lambasted the move, saying: 

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The Illiberal World Order

The Illiberal World Order

From a big picture perspective, the largest rift in American politics is between those willing to admit reality and those clinging to a dishonest perception of a past that never actually existed. Ironically, those who most frequently use “post-truth” to describe our current era tend to be those with the most distorted view of what was really happening during the Clinton/Bush/Obama reign.

Despite massive amounts of evidence to the contrary, such people now enthusiastically whitewash the decades preceding Trump to turn it into a paragon of human liberty, justice and economic wonder. You don’t have to look deep to understand that resistance liberals are now actually conservatives, brimming with nostalgia for the days before significant numbers of people became wise to what’s been happening all along.

They want to forget about the bipartisan coverup of Saudi Arabia’s involvement in 9/11, all the wars based on lies, and the indisputable imperial crimes disclosed by Wikileaks, Snowden and others. They want to pretend Wall Street crooks weren’t bailed out and made even more powerful by the Bush/Obama tag team, despite ostensible ideological differences between the two. They want to forget Epstein Didn’t Kill Himself.

Lying to yourself about history is one of the most dangerous things you can do. If you can’t accept where we’ve been, and that Trump’s election is a symptom of decades of rot as opposed to year zero of a dangerous new world, you’ll never come to any useful conclusions. As such, the most meaningful fracture in American society today is between those who’ve accepted that we’ve been lied to for a very long time, and those who think everything was perfectly fine before Trump.

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Solar Minimum Madness: Is Thanksgiving’s Winter Wonderland A Preview Of The Bitterly Cold Winter To Come?

Solar Minimum Madness: Is Thanksgiving’s Winter Wonderland A Preview Of The Bitterly Cold Winter To Come?

This week, three major winter storms will batter most of the country with ice, snow and bitterly cold temperatures just in time for Thanksgiving. It is being projected that 55 million Americans will be traveling this week, and so this bizarre weather comes at a very bad time. But of course we have already seen a series of blizzards roar across the nation in recent weeks and hundreds of record cold temperatures have already been shattered and we are still about a month away from the official start of winter. Normally, it isn’t supposed to be this cold or this snowy yet, but we don’t live in “normal” times.

Scientists tell us that solar activity becomes very quiet during a “solar minimum”, and when solar activity becomes very quiet we tend to have very cold winters. And in recent months solar activity has been very, very low. In fact, we haven’t seen any sunspots at all “since November 2”

We have not seen any sunspots since November 2, and at that time they were only visible for two days, and prior to that no sunspots since October 2.

Unless things change, and that is not expected to happen, we should prepare for a very cold and very snowy winter. And this upcoming week is likely to be a preview of coming attractions. According to CNN, holiday travelers will have three major winter storms to deal with…

As Thanksgiving week starts, a record number of travelers will be dealing with three storms nationwide that will add to the holiday stress.

One storm will lash the East and will affect travel through Sunday, another one will batter the Midwest on Tuesday and a third one will move through the West on Wednesday.

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The Greatest Swindle in American History… And How They’ll Try It Again Soon

The Greatest Swindle in American History… And How They’ll Try It Again Soon

property taxes

International Man: Before 1913 there was no income tax, and the United States was a much freer country. Initially, the government sold the federal income tax to the American people as something only the rich would have to pay.

Jeff Thomas: Yes, exactly. It always begins this way. The average person is always happy to see the rich taken down a peg, so this makes the introduction of the concept of theft by the government more palatable. Once people have gotten used to the concept and accept it as being perfectly reasonable, then it’s time to begin to drop the bar as to who “the rich” are. Ultimately, the middle class are always the real target.

International Man: The top bracket in 1913 kicked in at $500,000 (equivalent to around $12 million today), and the tax rate for it was only 7%. The government taxed those making up to $20,000 (equivalent to around $475,000 today) at only 1% – that’s one percent.

Jeff Thomas: Any good politician understands that you begin with the thin end of the wedge, then expand upon that as soon as you feel you can get away with it. The speed at which the tax rises is commensurate with the level of tolerance of the people. And in different eras, the same nation may have a different mindset. The more domination a people have come to accept from their government, the faster the pillaging can be expanded.

As an example, the Stamp Tax that King George III placed upon the American colonies in the eighteenth century was very small indeed – less than two percent – but the colonists were very independent people, asking little from the king in the way of assistance, and instead, relying upon themselves for their well-being. Such self-reliant people tend to be very touchy as regards confiscations by governments, and even two percent was more than they would tolerate.

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Enviros Tools of Russians? The Weird Conspiracy Theory Firing up Kenney’s Inquiry

Enviros Tools of Russians? The Weird Conspiracy Theory Firing up Kenney’s Inquiry

SPECIAL REPORT: Alberta’s ‘anti-energy’ probe makes a debunked US report its must-read.

LamarSmith.jpg
Texas Republican Lamar Smith, a noted climate denier and big recipient of oil and gas political donations, led a House committee that produced a report suggesting environmentalists are manipulated by the Russian government.

Russian Attempts to Influence U.S. Domestic Energy Markets by Exploiting Social Media was produced by the U.S. House of Representatives Committee on Science, Space and Technology, which at the time was led by a climate change-denying Republican from Texas named Lamar Smith. Upon its release in 2018, Democratic Congressman Raúl Grijalva described the report as “another round of unsupported conspiracy theories,” and it received little traction.

Now the report is officially required reading for Alberta’s inquiry, explicitly included in its terms of reference.

Why would that be? Answers were not forthcoming from Inquiry Commissioner Steve Allan, who didn’t respond to The Tyee’s interview request.

“There is very little the commissioner can share with the media at this time that is not contained on this website,” reads the Alberta Inquiry website. The commission’s terms of reference also explain that “As part of the inquiry, the commissioner shall examine the work completed by other investigations in other jurisdictions into similar activities or alleged activities.”

A New York-based journalist who wrote an article about the Republican-produced report was surprised Alberta is paying attention to its claims of Russian intrigue.

“That is unexpected,” said John Timmer, senior science editor for the media outlet Ars Technica. The report “didn’t pick up very wide coverage perhaps because it was rather strange to begin with… It just didn’t really hold up to a critical analysis very well.”

“It’s just a bizarre compilation of allegations that feeds a conspiracy theory,” said Devon Page, the executive director of Ecojustice, about the report’s inclusion in the Alberta inquiry’s terms of reference.

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Iran’s ‘only crime is we decided not to fold’

Iran’s ‘only crime is we decided not to fold’ 
Iranian Foreign Minister Mohammad Javad Zarif, at the annual Astana Club meeting in Nur-Sultan, Kazakhstan last week. Photo: Asia Times / Pepe Escobar 

Iran’s ‘only crime is we decided not to fold’ 

Foreign Minister Zarif sketches Iran-US relations for diplomats, former presidents and analysts


Just in time to shine a light on what’s behind the latest sanctions from Washington, Iranian Foreign Minister Mohammad Javad Zarif in a speech at the annual Astana Clubmeeting in Nur-Sultan, Kazakhstan delivered a searing account of Iran-US relations to a select audience of high-ranking diplomats, former Presidents and analysts.

Zarif was the main speaker in a panel titled “The New Concept of Nuclear Disarmament.” Keeping to a frantic schedule, he rushed in and out of the round table to squeeze in a private conversation with Kazakh First President Nursultan Nazarbayev.

During the panel, moderator Jonathan Granoff, President of the Global Security Institute, managed to keep a Pentagon analyst’s questioning of Zafir from turning into a shouting match.

Previously, I had extensively discussed with Syed Rasoul Mousavi, minister for West Asia at the Iran Foreign Ministry, myriad details on Iran’s stance everywhere from the Persian Gulf to Afghanistan. I was at the James Bond-ish round table of the Astana Club, as I moderated two other panels, one on multipolar Eurasia and the post-INF environment and another on Central Asia (the subject of further columns).

Zarif’s intervention was extremely forceful. He stressed how Iran “complied with every agreement and it got nothing;” how “our people believe we have not gained from being part of” the Joint Comprehensive Plan of Action; how inflation is out of control; how the value of the rial dropped 70% “because of ‘coercive measures’ – not sanctions because they are illegal.”

He spoke without notes, exhibiting absolute mastery of the inextricable swamp that is US-Iran relations. It turned out, in the end, to be a bombshell. Here are highlights.

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In Landslide Vote, US House Joins Senate In Defying China, Backing Hong Kong Protesters

In Landslide Vote, US House Joins Senate In Defying China, Backing Hong Kong Protesters

One day after the Senate unanimously passed a Bill backing Hong Kong’s pro-democracy protesters, and spawning a wave of complaints and threats from China which warned it would retaliate, moments ago the U.S. House of Representatives followed in the footsteps of the Senate, and in a nearly unanimous vote cleared legislation supporting pro-democracy protesters in Hong Kong by requiring an annual review of whether the city is sufficiently autonomous from Beijing to justify its special trading status, defying objections from China.

The bill, S. 1838, which would require annual reviews of Hong Kong’s special status under U.S. law and sanction officials deemed responsible for human rights abuses and undermining the city’s autonomy, passed the House 417-1 late on Wednesday afternoon setting up a confrontation with Beijing that could imperil a long-awaited trade deal between the world’s two largest economies.

The bill now goes to Trump as soon as Thursday to be vetoed or signed into law, according to a congressional aide.

While the White House declined to comment on whether Trump will sign the legislation, Trump’s position is now acutely precarious because Congress would easily be able to override any veto. If Trump signs the bill, he could torpedo the trade talks, while refusing to sign it would give his political opponents a chance to attack him for being weak on China, while at the same time facing an ongoing impeachment process.

“The Congress is sending an unmistakable message to the world that the United States stands in solidarity with freedom-loving people of Hong Kong and that we fully support their fight for freedom,” Speaker Nancy Pelosi said on the House floor. “This has been a very unifying issue for us.”

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Brace For Impact! The U.S. Economy Is Going Down, And It Is Going Down Hard…

Brace For Impact! The U.S. Economy Is Going Down, And It Is Going Down Hard…

I have so many bad economic numbers to share with you that I don’t even know where to start. I had anticipated that the U.S. economic slowdown would accelerate during the fourth quarter of 2019, and that is precisely what has happened. The Federal Reserve is trying to do all that it can to keep us from officially slipping into a recession, and the federal government is literally spending money as if tomorrow will never come, but all of that intervention has not been enough to reverse our economic momentum. We are really starting to see conditions begin to deteriorate very rapidly now, and 2020 is already shaping up to be the most pivotal year for the U.S. economy since 2008.

Let me start my analysis by discussing how U.S. consumers are doing right now. According to CBS News, a major new study that was just released found that 70 percent of all Americans are struggling financially…

Many Americans remain in precarious financial shape even as the economy continues to grow, with 7 of 10 saying they struggling with at least one aspect of financial stability, such as paying bills or saving money.

The findings come from a survey of more than 5,400 Americans from the Financial Health Network, a nonprofit financial services consultancy. The project, which started a year ago, is aimed at assessing people’s financial health by asking about debt, savings, bills and wages, among other issues.

That sure doesn’t sound like a “booming economy”, does it?

And even though things are already really tough for millions upon millions of American families, it appears that things are rapidly getting worse. In fact, we just witnessed the largest decline for the Bloomberg Consumer Comfort Index since 2008

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China Demands US Stop “Flexing Muscles” After Its New Carrier Sails Across Taiwan Strait

China Demands US Stop “Flexing Muscles” After Its New Carrier Sails Across Taiwan Strait

China has gone on the diplomatic and military offensive Monday as China’s Defense Minister told his US counterpart that Washington must stop “flexing its muscles” in the South China Sea. At the same time Beijing has deployed its new domestically produced aircraft carrier to the South China Sea for “training and research purposes,” CNN reports. Before that it passed through the Taiwan Strait, reportedly followed closely by US and Japanese ships. 

China said it would not tolerate “any Taiwan independence incidents” and urged the United States not to provoke any further problems or interference in the region.

China’s first domestically developed aircraft carrier, via Reuters.

This latest incident reported by Reuters involved the “Chinese carrier ship passed through the Taiwan Strait on Sunday, tailed by U.S. and Japanese ships.”

US Defense Secretary Mark Esper and Chinese Defense Minister Wei Fenghe met in Bangkok where they are attending a summit with the Association of Southeast Asian Nations (ASEAN) and other countries.

Wei is reported to have told Esper that China is determined to maintain “peace and stability in the South China Sea and demands the US stop flexing its muscles in the South China Sea and do not provoke and escalate tension in the South China Sea.” They also discussed the unrest in Hong Kong and a host of other security-related issues.

Chinese Defense Minister Wie Fenghe greets US Defense Secretary Mark Esper in Bangkok, Thailand on Monday, via the AP.

The day before, Esper had publicly accused Beijing of “increasingly resorting to coercion and intimidation to advance its strategic objectives” in the region.

Esper acknowledged in a Tweet that the two discussed “how our two nations can continue a relationship focused on maintaining the international rules based system.”

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About Trump

About Trump

The timing is right for everyone to understand what Donald Trump is doing, and try to decrypt the ambiguity of how he is is doing it. The controversial President has a much clearer agenda than anyone can imagine on both foreign policy and internal affairs, but since he has to stay in power or even stay alive to achieve his objectives, his strategy is so refined and subtle that next to no one can see it. His overall objective is so ambitious that he has to follow random elliptic courses to get from point A to point B, using patterns that throw people off on their comprehension of the man. That includes most independent journalists and so-called alternative analysts, as much as Western mainstream fake-news publishers and a large majority of the population.

About his strategy, I could make a quick and accurate analogy with medication: most pills are designed to cure a problem, but come with an array of secondary after-effects. Well, Trump is using medication solely for their after-effects, while the first intent of the pill is what’s keeping him in power and alive. By the end of this article, you’ll see that this metaphor applies for just about every decision, move or declaration he’s made. Once you understand what Trump is about, you’ll be able to appreciate the extraordinary presidency he’s conducting, like no predecessor ever came close to match.

To start off, let’s clear the one aspect of his mission that is straightforward and terribly direct: he’s the first and only American President to ever address humanity’s worst collective flaw, its total ignorance of reality. Because medias and education are both controlled by the handful of billionaires that are running the planet, we don’t know anything about our history that’s been twisted dry by the winners, and we don’t have a clue about our present world.

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The Decline & Fall of Civilization is Upon Us

The Decline & Fall of Civilization is Upon Us 

COMMENT:

Good afternoon

I would like to share a testimony to Marty:

I am french and have attended a conference of technology in Germany last weekend, in which Barack Obama attended as a guest speaker.
Though I am not American nor Republican, I was really surprised by the tonality and the comments different American speakers voiced during the speeches about Republicans and Donald Trump : uneducated, in denial, egocentric, dumb,… a speaker even said she regretted not having offered a “Dump Trump” sweater to President Obama (quote). I was really surprised to see the level of undisclosed hatred being displayed in a business/public event..

You are absolutely right, the gloves are dropped now, and 2020 will be hectic in the USA…
Thanks a million for your blog and your insights, you are a true teacher to me

CQ

REPLY: I have never seen a worse political divide. There is no going back. The 2020 election is going to be the most violent and nasty election in American history. There is just no way to return to civility. The hatred is brewing and that will erupt into violence.

From my study of history, it appears that this is just part of the cycle in how empires, nations, & city-states collapse. The very purpose of civilization is that there emerges a synergy that is greater than an individual can create alone. You no longer need to bake bread because someone started a bakery.

However, when society turns in upon itself, that is the end. It is no longer beneficial to remain in a collective group. We are rapidly approaching this point and that erupts into separatism, which you are witnessing everywhere around the globe.

 …click on the above link to read the rest of the article…

Olduvai IV: Courage
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Olduvai II: Exodus
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