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July 26, 2016
The Daily Walk with Miracles
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20 Percent Market Correction — Or Worse?
Overvalued Currency and Market Prices
Spell Possible Economic Collapse
The Daily Walk with Miracles, updated July 24, 2016, by Paul Evans. Main article excerpt from Economists: Wealth Bubble Sends Scary Signal About Future US Downturn, NewsMax, July 26, 20126, by “Personal Finance.” Video is Economic Collapse Confirmed! Most Credible Video Ever!, courtesy of Project Clarity and YouTube — 39:34.
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New G20 Financial Rules:
Cyprus-style Bail-ins to Confiscate
Bank Deposits and Pension Funds
See New G20 Financial Rules: Cyprus-style Bail-ins to Confiscate Bank Deposits and Pension Funds, Global Research, December 2, 2014, by Ellen Brown. November 16, 2014: “Russell Napier, writing in ZeroHedge, called it “the day money died.” In any case, it may have been the day deposits died as money. Unlike coins and paper bills, which cannot be written down or given a “haircut,” says Napier, deposits are now “just part of commercial banks’ capital structure.” That means they can be “bailed in” or confiscated to save the megabanks from derivative bets gone wrong.” See also the articles at The United States of Everywhere and Russell Napier’s article.
Mortgage and Derivative Debt
The economy is in a continuing, dangerous situation since 2007, and Congress has its head buried in the sand like an ostrich. To simply go on as we have is to ignore the fundamentally dangerous and untenable economic danger America is in. This is due to the over-reaching greed primarily of the investment banks in mortgages and derivatives. But the need for both stimulus and austerity measures is huge, and may not even be enough to stop the economy from imploding. See You Think The Deficit Is Bad? Federal Unfunded Liabilities Exceed $127 Trillion, Forbes, January 17, 2015, by Capital Flows and Vance Ginn.
The only question in my mind is whether there is some colusion at work to cause a typical 20 percent market correction, where the clued-in rich sell high and then buy again after the market correction. However I don’t think this is the case, I think the bad mortgages and derivatives have been repackaged as AAA and AA bonds (notably illegally branded as such by Moodys), but the fact is that the economy is on the way, sooner or later, to something like a depression. God knows that for the common man that things are no better than they were five years ago. Yet the greed of the rich is at this point self-defeating: structurally the economy cannot indefinitely continue the way it has been.
See 10 Signs the US is on Brink of Collapse, Alamongordo.com, and especially Why The Collapse Of The U.S. Economic & Financial System Has Accelerated, Zero Hedge Fund, July 1, 2016, by SRSrocco.
Most articles you find having to do with a possible economic collapse have some kind of motive, but one really even-handed treatment is The Coming Economic Collapse, the Prepper Journal, May 9, 2016, by Guest Contributor:
People have been saying the US is on course for an economic collapse for years; however, many of them have no formal education in economics, and almost all gain financially from promoting stuff that would help others weather such a calamity. I decided to research the opinions and publications of economists who were ideologically centered, were not benefiting financially, and understood the country’s true fiscal condition, and tried to provide an estimate of the most likely future economic situation of the US. The future does not look bright. Several economists anticipate the US will default on its debt if the country does not change its fiscal policies.
See NewsMax which states that:
(We are in a dangerous situation, say) “veteran economists Daniel Thornton and Joe Carson. They’re concerned that the swelling of wealth could prove unsustainable because it’s far outstripped the growth of the economy since the recession’s end in 2009.
“Thornton, who spent 33 years at the Federal Reserve Bank of St. Louis before retiring in 2014, says in effect that we’ve seen this picture before. Household net worth ballooned in the late 1990’s and the early 2000’s; in the first instance pumped up by rising stock prices, in the second by expanding home values. Both cases ended badly, with the economy falling into recession after the bubbles burst.”
But with $127 TRILLION in unfunded mandates and with bank and derivative debt merely camoflaged and repackaged as bonds, the future looks quite dismal in terms of any straightforward analysis. I don’t see how you can honestly feel otherwise unless you are “wishful thinking.” A lot of what has been going on is typical greed-driven market psychology, the typical behavior of the rich is in these cases a “sell high, buy low market” psychology whereby the rich actually drive these 20 percent market corrections and profit quite well by them. But the national and bank debt and the legislated mandates will NOT indefinitely sustain the U.S. economy.
Ron Paul has been warning you about this for years. The Bible says “Oh thou that dwell on many waters, rich in treasure, wide in fame, bow unto a god of gold, thy pride of might shall me thy shame.” One concrete measure of the economic future, the Misery Index, was at 28.5 in 1929, just before the Crash. Now the Misery Index is at 32. If the powers that be don’t address the poverty that most of us live in, the resultant misery and poverty of all of us (the rich, too) will be your own fault. And it would be so easy to “fix” the situation. Simply institute some quite-doable reforms that lift the Misery Index. For example, restore the $38 billion a year food stamps cuts. If the Republican Party ran on the resoration of Food Stamps (for about the cost of 9 or 10 F-35 fighters the air force doesn’t even want), they would (correctly) be seen as caring about the little guy and maybe winning election 2016. Let’s pray they “get” this.
A little “old” but still relevant is Stock Market Crashing, Huge Bank Failing, with Latest Business News, The Daily Walk with Miracles, February 11, 2016, by Paul Evans.
Always relevant is The World Needs Faith and Charity (Works), The Daily Walk with Miracles, July 8, 2016, by Paul Evans.
Watch Gordon Lightfoot’s Pride of Man – 2:46.
See Pope Francis: Helping the poor isn’t Communism, it’s Gospel, The Daily Walk with Miracles, June 24, 2016, by Paul Evans.
Proverbs 13:7 – There is that maketh himself rich, yet hath nothing:
there is that maketh himself poor, yet hath great riches.
(King James version)
Do You Want Somebody to Talk To?
Please email me, Paul Evans at firstname.lastname@example.org.
We can at least offer each other a little kindness and compassion, right?