Debt Rattle July 31 2018
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René Magritte The son of man 1946 • ‘Prophet Of Doom’ Predicts Stock Market Will Plunge More Than 50% (MW) • Prepare For Biggest Stock-Market S
[See the full post at: Debt Rattle July 31 2018]Like I’ve said, they have no intent of paying the debt. It’s a “run to failure” model. Ironically, as history happens, it’s likely the Fed, soon to be owned by Trump appointments, will drop liquidity in QT and drive the dollar UP, despite $1.5T deficits. Maybe Cheney was right — apparently deficits don’t matter…until they do.
What is this fuss with markets anyway? The Dow is in the range it started in December 2017. That’s nearly a year of buppkas. Now it’s dropping? To 25,000? When valuations would say what? 10,000? 6,600? I wouldn’t get worked up. The Naz is 12% over last year. Horrors. And they say there’s no fake news. Not to say it can’t fall — it should — but they’ve got all markets pretty provably rigged right now.
They’re smashing on more tax cuts in this environment. Both because of the deficit, which they’re not going to pay, and for the “rich”, as a socialist thing. Newsflash: no one but the rich CAN get a tax cut because the bottom 50% are already too broke to pay any taxes. And they still haven’t reformed the system enough to keep Apple and GE from buying 10 senators and paying no taxes, ergo, all taxes are paid by the middle class, per usual.
Speaking of reform, yes all those cuts and market gains go to the rich because the entire economy has been financialized since at least 1970, 50 years ago. Until you restructure the ENTIRE economy, which might take decades, the gains will go the place the 50-year reward structure tells them to go: the rich. You tell me how to stop it without throwing a spoke in the wheels and throwing the car in a ditch and I’m all ears. Other than that, the solution is to cause a labor shortage, create man-jobs like manufacturing, and cut off conduits to financialization and monopoly, all of which seem to be being established here, however slowly and however violently resisted. But as more fake news, they opened a steel mill in Indiana this weekend, as root stock to the manufacturers, who seem to be getting the message and hiring — no thanks to insiders like GM and Harley (who got massive, undeserved ’08 bailouts). It stinks, but we can always collapse later if fixing it doesn’t work.
Or maybe just admit we already collapsed as today there was another U.S. city without drinkable water this morning. The others won’t dare test or admit the results, so bottoms up! But Soviet style socialism always creates these economic and ecological disasters, and we’re no exception.
The U.S. already collapsed? But of course it has.
The infrastructure, in true domino fashion, is collapsing across the land; from the oldest (least maintained) to the newest (most recently maintained); it will take health and wellbeing with it.
The last to go will be the military industrial complex; fluffed up with trillions in fiat paper not even worth a roll of quality toilet paper.
The soldiers are well taken care of until they have the misfortune of working the burn pits (toxic garbage burned in open pits) and being poisoned, or an IED along some desolate road far, far, from home. Missing body parts or other grievous injuries, they’ll be shipped home to enter the horror of the VA hospital system.
There, they’ll be ignored, not believed, mis-diagnosed, and drugged into quiescence.
Throw away citizens, barely considered human…
If that is not a collapsed America, then I do not know what would be…The Ubiquity of Evil
It is not easy to discern truth and to exercise one’s will ethically. What the world needs desperately now is to have more such people in places of sociopolitical power. History has shown that rather than getting a reasonably altruistic and loving savior, we are much more likely to get a pretender who cynically substitutes one form of despotism for another under the guise of change.
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