The Daily Walk with Love
— UPDATED WITH NEW CONTENT: All the signs of a deep crash have been there for well over two years. We saw how bad it was in 2007-8 and did nothing but double-down on our debt and worse, out of pure greed. The reasons why a poorly conceived policy involving increasing inequality, rampant greed, moving jobs overseas, and those Republican catch-phrases “trickle-down” and “hyper-capitalism” as well as the tax policies which support this, as well as sociological factors, are leading America down a garden path which leads to a fool’s paradise of high stock prices, misery among the lower half of Americans, increasingly insupportable deficits, with 83 percent of us dying with an average debt of $61,000, will very soon lead to eventual economic collapse, if not in the next few weeks, then certainly sometime in the next two to three months of 2020. This should by now be becoming obvious, as now is frighteningly the case with most economists. The average American now has $400 in savings, and bad credit, placing him or her one major unexpected expense away from possible homelessness. The very food supply itself is at risk at least partly because of an incompetant President and partisan infighting.
Updated September 10, 2020
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Why Big Deficits, Inequality,
“Trickle Down,” Greed & Hyper-capitalism
As Well As Sociological Trends, Coronavirus
and also Global Warming and Raging Wildfires
Soon Will Lead Us Into Economic Collapse
America Faces a Perfect Storm of Factors
All Pointing at Economic Collapse
(and many of them are our own fault)
The Daily Walk with Love, updated September 10, 2020, by Paul Evans. It has been over 10 weeks since I last updated and republished this. Since then, I received a complimentary copy of a book every American should read: “The American Jubilee: a National Nightmare is Closer Than You Think,” by the respected economist Porter Stansberry, (an interview with legendary investor Jim Rogers), 2019. He states that “there’s no question a gigantic trauma is coming, and many debts are going to be wiped out… This is going to end badly.” Yeah, I see that if you are a big-time creditor worth multi-millions or billions, the who idea of a Jubilee is something you will try hard to fight off. But for the 83 percent of Americans who now die in debt, with an average debt of $61,000, a Jubilee would sound really great! Some of the facts and sources in this article are a little outdated, but I definitely think its conclusions are sound, and I very definitely believe it’s all true. This article itself is in the form of a blog, with the newest material at the top. As if America didn’t have enough financial worries, now the raging fires in western states, which are basically a symptom of global warming and the new, drier western America, threatens to act as the trigger which sends our whole, flimsy economic house of cards into collapse.
See How California’s wildfires could spark a financial crisis, Reuters, September 10, 2020, by Ann Saphir: “(Reuters) – Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets, an advisory panel to a U.S. markets regulator found.”
See Global Warming: Can the Human Species Survive Extreme Heat, The Daily Walk with Love, August 24, 2020, by Paul Evans. Last week, while Death Valley scorched under an unprecedented 130 Fahrenheit blast, Phoenix suffered through a record-setting 115 Fahrenheit heat wave. Climate scientist fear that California’s raging forest fires signal a permanent, hotter, drier climate for the West Coast.
NEW: See Is the COVID-19 recession a prelude to major economic collapse?, CrossCut, July 22, 2020, by Katie Wilson: “Extreme financial risk-taking, combined with the effects of the pandemic, may spell disaster for the U.S. economy.”
NEW: See The Next Global Depression Is Coming and Optimism Won’t Slow It Down, TIME, August 6, 2020, by Ian Bremmer:
The world is confused and frightened. COVID-19 infections are on the rise across the U.S. and around the world, even in countries that once thought they had contained the virus. The outlook for the next year is at best uncertain; countries are rushing to produce and distribute vaccines at breakneck speeds, some opting to bypass critical phase trials. Meanwhile, unemployment numbers remain dizzyingly high, even as the U.S. stock market continues to defy gravity. We’re headed into a global depression–a period of economic misery that few living people have experienced.
In the news July 16, 2020, I received an email (dated July 2nd), as to the future and shape for the American economy. It was titled Whatever this man says goes viral. It had a quote from Porter Stansbury, a world renowned investment counselor. Right up front, it said, “get out of cash, now.” But I was more interested in a link there leading to a five minute video. It spoke of “hope” for investors. I wondered just what he meant, particularly having to do with the western world’s debt and the need for a Jubilee. (A Jubilee, which happened three times in Old Testament Israel, is where everyone’s debts, public and private are forgiven, totally wiped off the books.) As I see it, this should have been done some time ago. The 83 percent of us who die in debt, with an average debt of $61,000, would love a Jubilee, right? But the billionaire creditors will fight it tooth and nai. So why thre hopefulness? Then it hit me, yeah the billionaires will hate it, but, really, not so the banks, who are now facing tens of billions in debt. (I see all these new or nearly new cars on the road. OK, just as in 2006-7 the banks allowed the real estate people to do “liars loans” on mortgages, now they are doing that with cars! The car dealership doesn’t care about all the debt they accrue, the banks are the ones stuck with somehow dealing with these debts. For example, CITI Bank and Deutsche bans are in debt tens of billions, and without a Jubilee, one or both might not escape these mostly unleveraged debts. If either of them goes, it starts out five times as bad as it was in 2007-2008.
I have always been a strong advocate of co-operation between the Right (Conservatives, Tea Party types and yes, Neo-Nazis); and the Left (true liberals, socialists and yes, Communists), in alliance with each other on issues of shared wishes, hopes and dreams. Thus, a few years ago we saw Rand Paul in the Senate get a 78 to 18 veto-proof vote to end (perceived) illegal aspects of NSA spying on Americans. What is at stake, now, is our very survival. The featured photo has the words, “in Zionist Bankers we Trusted.” We know we have a shared interest in the fate of the average American and the poor. The Illuminati want to reduce the population down to 500 million, which is only seven percent of those now living. But who Are these Illuminati? Why they Are the elite, the Billionaires, led by the Zionist Jewish investment bankers, and these Jews are the surviving Neanderthals. Their proposed genocide would wipe out all who are not Jewish, who are not of the 12 Tribes of Israel, in other words, they would kill off by means of disease and war all who are of the more recent “Cro-Magnon” race. Only an alliance between the left and the right, in support of Donald Trump, might stop this. [(At the same time, I am certainly not a “Jew-hater.” My anger is only toward the true Billionaire investment bankers, for destroying the America I grew up with and love so much.)} Look, you are not going to read this on CNN (“the Clinton News Network”), or anywhere else but on The Daily Walk with Love. This will probably cost me my life… God Bless you all, and Blessed Be.
To elaborate, the Illuminati (led by the thirteen ruling families –the Syndicate), are supposed to be alien-human hybrids, who have “pure” descent which they reckon over several thousands of years. But we know that quite recently, several huge “Motherships” appeared about earth. One such craft, which is said to be 300 miles long, was photographed by NASA near the face of the sun, apparently taking energy from it. And there may be quite a few of similar Motherships now near earth. I want to do something not allowed by the authorities now, and reveal to you that these full-bred, pure aliens, are NOT corrupt, but are morally good, and like anyone who is good, worship the Light (while Neanderthals are said to worship the darkness). Go to Sirius Disclosure (which has a movie now viewed over two million times) to find out more.
NEW: Watch/See The Economic Implosion will Happen Soon (Probably in the Next Two Months), Weiss Finance, June 5, 2020, Here are practical steps you should take to survive it:
With all that’s happening right now, Martin Weiss’s voice of reason and specific, practical recommendations to achieve financial safety in an unsafe world could not be more timely. To gain immediate access to Weiss Ratings’ free exclusive lists of the weakest and strongest stocks, ETFs, mutual funds and banks, you can select “continue watching,” or “read transcript.”
See 3 Reasons Why The Dow will crash below 20000 in 2 weeks, CNN, April 23, 2020. PE: one analist feels the market will crash much worse than that, and will not hit the bottom until August.
NEW: See Coronavirus: Possible Treatments which Might Cure It, recently on The Daily Walk, where I state:
Reopening our economy — 44 million jobs lost in the last five weeks, wiping out all the in thegains in employment over the last 10 or 11 years — is not wise, but as the Reblicans seem to see it, is the only real alternative left to us. Look, this economy, many astute economists believe, will totally implode sometime in mid-2020. We have a basically unleveraged derivatives and junk bonds debt of at least $47 trillion, now we see multiple trillions in coronavirus expenses, when the Shanghai Cooperative trading in the Chinese Yuan means we cannnot even borrow what we used to, and in a few months, even the most basic food supply chain may unravel. I call on President Trump and the DCI of Central Intelligence, and all government personnel, as well as even the mafia and ordinary American citizens to realize that President Trump may need to dismiss congress, unless they show some bipartisan spirit and get behind the President. The Illuminati plot to depopulate the Earth from its current seven billion people down to 500 million by means of disease and war, must not be allowed to succeed. Very likely, the national guard and army may even have to be deployed, and it’s up to us, including our local authorities and police, all to cooperate.
The Dow fell 1,000 points, down 4.1% — its seventh-straight day in the red. The index dropped 3,226 points in the first four days of the week, including its worst one-day point drop in history on Thursday. On a percentage basis, Thursday’s 4.4% slump was the worst performance since February 2018.
The government has been almost merciless in ruining my coding to bring my readers the truth. Sobeit.
NEW: See Stock futures plummet after news of Iran strike at Iraqi bases, The Hill, January 8, 2020, by Tal Axelrod. We are seeing increasing instabilaty in the market. In fact, there are only two times in U.S. history that stock market investments have been as risky as they are now, 1929, when stocks fell 83 percent, and 1999, when they fell 50 percent. Even conservative Republican economists say that they expect the market to fall at least 40 percent in value (David Stockman) or at least 50 percent (Ron Paul). Most say that this will occur by mid-2020.
Here is my own – Paul Evans’ – take on the economic situation. The the American People Blind? Obama doubled the national debt, given. He also got the IMF to make the Chinese yuan a joint global trading currency, along with the dollar. And now we see this monster of an economic adversary emerging, “The Shanghai Cooperative,” of some 40 nations including Russia, China and Iran, who have announced they will be doing their trading with the Chinese yuan. Use of the dollar for trade all over the world is mathematically tied to America’s ability to borrow money. Did you realize that 30 percent of our budget goes to pay the INTEREST on our debt? The point is that Obama’s budget his last year in office was $784 billion. Trump’s spending his first year in office (including the $200 billion giveaway to the rich) was $1.2 Trillion, and for his second year in office was/is $1.4 Trillion. WHAT is he thinking? Only about the right wing’s new economic religion, hypercapitalism. This spending is in no way sustainable. Our economy, basically, is about to implode. Stocks are 70 to 80 percent overvalued versus what they are worth, what we MUST have is for the Fed to raise the discount rate about a point, causing a recession with some attendant inflation. This would act as an escape valve on an overheated steam furnace. In 2007, banks were issuing liar’s loans on mortages for houses. Now they are giving them away (with nothing down!) on housing and cars. Deutsche Bank and CITI Bank are near collapse. If either one of those goes, it’s all over with the American economy. I could go into it in more detail… For those who think they have covered themselves with gold, I will just note that in 1932 FDR seized all privately held gold for pennies on the dollar. Yes, indeed, the sky is falling, and most respected economists think this will happen by mid-2020.
There is a law of human ecology called the Weber-Fetchman Effect, “the base level of stimulation is proportional to the prior experience,” which can often be restated, “the more you get, the more you think you need.” You rich folks are basically just too damned selfish.
The security agencies have just about destroyed this article, they continue to limit severely the truth I tell in all my articles, at the risk of my life. Admittedly if only people knew, this news would dominate and overshadow anything else around. I want the American people to understand and prepare for this.
NEW: See <a href=” https:=”” eand.co=”” why-were-underestimating-american-collapse-be04d9e55235″ target=”_blank” rel=”noopener noreferrer”>Why We’re Underestimating American Collapse, Eudaimonics, January, 25, 2018, by Umair Haque.
NEW: See Goldman Sachs Warns of Impending Market Crash, Market Realist, June 28, 2019, by Anuradha Garg.
NEW: See A Market Crash Is Inevitable — Here’s What to Do, The Motley Fool, by Selena Maranjian.
NEW: See >The end really is near: a play-by-play of the coming economic collapse, Salon, August 10, 2018.
Updated with new content Updated March, 30, 2019, videos courtesy of YouTube. Included photograph of INFOWARS. Video is Park Avenue money, power and the American dream: Why Poverty, Earthbound and YouTube – 59:03.
Psalm 25 — Asking for God’s Help, with Explanation, The Daily Walk with Love, January 17, 2018, by Paul Evans. I am actually proud of my effort with this article and hope you all will take the time to read it.
For your musical enjoyment as well as some interesting commentary about Microsoft and artificial intelligence, I suggest ♫ Information Society – Land Of The Blind ♫, recently on The Daily Walk with Love, by Paul Evans.
LET ME MAKE PERFECTLY CLEAR WHY I PUBLISHED THIS ARTICLE: IT WAS NOT out of any sort of dissidence at all. I wrote this article, for the better understanding of the rich, the poor, and the middle class, as to exactly what the truth is about our economy, AND what is in ALL OF OUR best interest (including the best interest of the rich). I will make crystal clear that, right now in America, it is in the selfish interest of the rich (with their failure to help the poor and to reduce inequality, by providing a way out of poverty — upward mobility), which is about to become our own downfall, unless addressed ASAP. That is why I wrote this article, because I am a patriotic American and I care.
There is sooo much evidence, such as this: Obama doubled the national debt, but his last year’s budget was $784 billion. Trump’s first year budget is $1 TRILLION PLUS the $200 billion in tax cuts for the rich. This is the longest running bull market in our history, but when the bottom falls out of the stock market, you may understand patriots such as myself and Ron Paul keep (vainly) trying to get your attention. The Fed MUST raise the discount rate enough to trigger a mild (or not so mild) recession and some inflation… which would act as an escape valve for some of our problems. And we are crying out for a slightly progressive fair and flat tax (say 15 percent with two bumps way up among the very very wealthy, who can afford it). CITI Bank and Deutsche Bank are teetering on the edge: if either goes down, that’s about it. See The Looming Economic Collapse: The $25–Trillion Worldwide Debt Crisis, BMG Group, Inc., by Marc Salvation.
: In other words, the ONLY thing which might “save” our nation is a major raise in the FED’s “discount rate” (in other words, interest rates), enough to cause a minor stock crash (or a “large correction”) and give us some time to get our house in order, regaining our good economic position. However, what it would probably cause is a 35-40 percent sudden drop in stock values and a more equal position in our society between the “haves” and the “have nots.” It would, then, serve as an “escape valve” and allow us the time we need to address several complex issues, in both social and economic circles. (And the Republican Party
work for cutting or eliminating all the many tax breaks that the rich get. Without real reform, you cannot afford any stimulus at all (much less one which primarily advocates “hyper-capitalism.”) Facts are facts. Go ahead and keep your heads in the sand, GOP… when stocks absolutely implode, perhaps you might remember this warning. Also see my article,
See Yet Another Chart That Screams “Look Out!”, published today (March 17, 2018), with the additional reference article included by Market Watch. Some of the articles are basically Russian propaganda, but now all of these given here by any means whatsoever. Most of the articles here are dispassionate analyses by economists and stock market gurus here in America. Those who read this article in terms of the (correct) facts presented might be helped a lot. But as the song says, “those who cannot connect the dots, hey, look the other way.” Anyway I took the time to write this to try to help with a few new ideas, because I care.
NEW, a new correspondence by Michael Lombardi, who notes that one out of four Americans now lives in poverty (officially, when actually the reality is even worse than this. One of my sources said that 75 percent (and another source said 78 percent) of Americans live impoverished lives, barely getting by, as is said, living paycheck to paycheck, with no safety net at all. See the video at The Great Crash of 2018, an impressive video you really need to read (as well as my own words, below). (The general conclusion of many of these business tax and investment gurus is to buy some silver while you can.)
In my article, Inequality and The American Dream, I commented:
The CIA, Trump & Co. will not be pleased with me republishing this article, but actually, neither will the Russians. So be it, this is an important article. Between 1950 and 1970, the tax rate for the uppermost income bracket was 93 percent, while the economy grew steadily each year at four percent a year. What has brought America into the position of economic jeopardy she finds herself in? It is the unmitigated greed of the super-rich, and THIS is actually the weapon the Communists have used against us to set us up to be in a position where we are at risk of a terrible stock market crash and devaluation of the dollar. In other words the Communists, conspiracy or no, have used our own greed as a weapon against our future greatness and prosperity. “Trickle down” and “hypercapitalism” only serve to hurt the common man and put us much deeper in debt (and ultimately — quite soon if nothing is done — this will destroy our economy altogether). Severe inequality is the greatest single weapon our enemies have against America, and this must be realized in the highest circles.
Maybe it’s time for a strong, moral Third Party — I used to think perhaps the Reform Party — to be organised and supported. Maybe it’s time we explored more socialistic ideas such as those of Bernie Sanders. Neither the Democrats nor the Republicans as now constituted represent the hopes and dreams of ordinary Americans and the common man, and God know we’re suffering too much as it is. In 1980 the upper one percent of Americans made 27 times more than did the lower 50 percent of us. Now the top one percent makes 80 times more than does the lower 50 percent of us. This is not tolerable. We should stop being so scared of that heretofore taboo word “socialism.” If nothing else, for god’s sake nationalize the banks, as has been done in many Western, industrialized nations! If not now, when?
New sources which tell the truth: See The United States Is on a Path to Bankruptcy and Economic Collapse, Lombardi letters, March 1, 2018, by Alessandro Bruno BA, MA.
NEW, See Is the US Monetary System on the Verge of Collapse?, Casey Research, September 20, 2011, by David Galland, Casey Research. The impending depression/collapse would in fact happen by the way the stimulus money was handled and America’s failure to be honest about just how bad it is or could be. The super-rich have made ready by accumulating gold, silver and precious gems, which provides them with a far better situation in case this gets really bad. I will only note that in 1932, FDR confiscated privately held gold for pennies on the dollar. Yes, this is that desperate a situation.
See Surviving the Coming Economic Collapse, Wealth Daily, March 1, 2018, by “author not given.”
According to a recent Lombardi (investors) Letter, from January 15, 2018, commercial bankruptcies were up 107% in America in the month of December, 2017. This is a healthy economy? Actually it’s a very sick economy on it’s way down, and only false investor confidence has kept things going this long.
I believe that, overall, the overweening greed of the elite is the single biggest reason America’s greatness and its economic health are at such risk. Some of the “other reasons” would not be nearly so bad if our leaders, our laws and Congress, and the rich themselves were not so terribly greedy and corrupt. However examined outside of this factor is the difficult-to-fix fact that we have more and more people on drugs and in street gangs, more and more people on disability, more and more people entering the senior population, and fewer and fewer people supporting them. I believe that of these latter factors, drugs, gangs and the numbers of people on disability would not be that bad a problem if our nation had not become one focused on greed and corrupt ways of getting rich or richer. (This is the general interpretation of these issues which economic liberals make, while conservatives tend to concentrate on the idea that changing America’s values could better fix them. Perhaps we need to work in both directions.) But the problem of our increasing senior population is a difficult problem without easy solutions.
With stocks, terrible as this may seem, somewhere between 50 and 80 percent overvalued based on what they are really “worth,” the only thing which can stop a major economic collapse leading to something perhaps worse than the Great Depression would be a milder recession, which would serve as a sort of “escape valve.” I am calling on the Fed to do it’s patriotic duty and raise the discount rate enough so as to cause a fairly strong recession. Attempting to avoid this is committing financial suicide. We desperately NEED a 30-40 percent stock devaluation so that we can regain our bearings. Did you know that, right now, America’s corporations are sitting on more cash on hand than at any time in their history? True, but they are not investing this cash on hand into infrastructure, jobs or the like, they are buying stocks and companies with it, which only serves to further artificially inflate stock prices. Actually, the situation is much more grave than it was in 2007-2008. ~ Paul Evans
(New Content, includes some from the Inequality article): Hypercapitalism WILL grow the economy effectively, but it puts us further into the depths of a service economy where half of America does not even have the wherewithal to purchase consumer goods, living paycheck to paycheck. Worse, hypercapitalism, while maxing upwards the wealth of the rich and the stock prices of businesses, puts America in an ultimately insupportable position in terms of the deficits it causes, leading into the future. Thus it is ultimately unsustainable and even very destructive to our economic security. It has bifurcated the middle class, allowing a privileged group to enjoy a luxurious lifestyle while sending most of what has been the backbone of America into a perilous economic existence essentially living as poor people, paycheck to paycheck. Did you know that at this time, 50 to 75 percent of Americans live paycheck to paycheck? This means that such a family is only one major, unexpected expense, such as a major car repair, or a factory closing, away from possible homelessness or certainly major poverty.
NEW: See 5 Signs of a U.S. Economy Collapse in 2018? What Will Happen, How to Prepare, Investment Watch Blog, February 22, 2018, by IWB.
Read Severe Inequality Is Incompatible With the American Dream, The Atlantic, Business, December 10, 2016, by Alana Semuels: “In the 1980s, the top 1 percent of adults earned 27 times more than the bottom 50 percent. Now, they earn 81 times more.” This data is from The Atlantic, a mainstream, perhaps slightly conservative, respected magazine. Why this disparity of income? Why isn’t America more equal than this, in terms of income? It’s a POLITICAL problem with political solutions. You super-rich could fix it if you wanted to. This is too much inequality. Sure, there’s going to be some inequality, Jesus himself said there would be poor always. But America has gone from leading the world in upward mobility to being “in the middle of the pack,” about 20th among developed nations. Republicans have always pushed the myth that any American can “pull himself up by his own bootstraps.” To a certain extent, it might still barely be possible, but mostly not. It’s a myth, a lie, a talking point. What went wrong? GREED went wrong, greed caused the crisis of 2007-2008, and only the political will of all Americans directed at Congress can fix this.
“Trickle down” as a way upon which to base a tax system, so far as I can see, basically was just a theory conceived as an excuse to lower the taxes of the rich and big business. And stimuluses in large part work the same way: 40 percent of Obama’s stimulus went to tax cuts for the rich. The poor saw very little of that. According to Scientific American, the lower 40 percent of us have just 0.3 percent of the wealth, while the Walton family (who own WalMart), alone own 42 percent of the wealth of America. In what way is this representative of a Christian society, where we are our brother’s keeper and actually love our neighbor as ourselves? In 2005, according to a Goodwill report, for a family of three with both parents working full time, they would both need to make $13 an hour (by 2005 standards) to live at a middle class level. As it is, most employers do not hire for or give out full time jobs, so as to not have to provide the benefits which go with that. This is NOT the America I grew up with.
If Donald Trump can’t fix this and give us more and better and better-paying jobs, soon it WILL be “all up” and the American economy will collapse. See Stockman, Soros, Paul, Others: A 40-50 Percent Market Crash is Inevitable, The Daily Walk with Love, October 3, 2017, by Paul Evans. I really wish someone would call that article to President Trump’s attention. The fact is, the real misery index (not the fake government one) makes the probable future clear, as do several economic indicators flashing red. And if the economy does collapse, it would be TWICE as bad as the great depression, so say the experts. That article makes clear that several major indicators are flashing red and stating that we are on the verge of economic collapse. But IF we fix inequality, perhaps using something along the lines of the Salt Lake City model discussed in the article on inequality, then the misery index goes down and America’s economic future looks much better, right? Why the top ten percent of us, economically, can’t see that it is in their interest to have the lower 90 percent of Americans buying consumer goods is beyond me (I mean, beyond their duty as supposedly Christian Americans). And I will just add that God hates injustice and loves the poor, it’s shot through the Bible, and he is a righteous and sometimes an angry God.
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How can “the masses” buy televisions or computers or newer cars if we live paycheck to paycheck? In this way it should be understood that the American economy CANNOT really grow much unless economic inequality is addressed in a fundamental way. You cannot really base an economy on the purchases of the top ten percent. And also, the super-rich and the investment banks have raided the people’s savings accounts too. There remains (I have read) only 1/4 to 1/2 cent left in our savings accounts backing every dollar in circulation. This is known as “unleveraged debt,” and it is VERY unsafe for an economy and a society. We MUST do better. What it means is that, at the top among the most educated and privileged few, the truth about all this WAS known. They just thought that their paradise would go on forever, that the economists would figure out ways around the bumps in the road, and actually used the cycles of economic bubbles to become even richer, since the rich always know the signals and sell high and buy low. But they never cared at all about the misery they were causing in the lower half of the population.
God is not mocked, either, as 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 be thy shame.” If only you rich folks game a damn about us regular folks at all, but it’s YOUR heads on the chopping block, this time. I am DIRECTLY saying that it is now, at this time, in the selfish interest of the rich to make the lives of the poor better, and to reduce inequality and increase upward mobility in America. Or you rich ones will be the ones to suffer. This time it’s different, our very economic survival as a nation is at stake, and a depression twice as bad as the 30s is looming. Is anyone listening?
I also strongly believe that it was particularly the “Rubin school of economics,” which, more than anyone — and as if they had set out to destroy Amerca, economically — which ruined and destroyed America’s wealth. If you will recall, it was the “black trinity” of Larry Summers, Tim Geithner and Ben Bernanke who basically controlled our economic policies during Bill Clinton’s presidency and on into George W. Bush’s and then (to many of supporters, a big shock) running things under Obama, too.
Conservative economic pundits are now suggesting that with the likely passage of Trump’s tax reform package, his Presidency now is approaching something closer to success. That’s success? Trump’s tax reform would complete the economic destruction of America which commenced under Bill Clinton and has been carried out under four successive presidencies, almost as though planned. Meanwhile his “America First” foreign policy is more belligerent than was Obama’s “American exceptionalism.” And Trump’s first budget has worse deficit than Obama’s last one. Donald Trump talks a good game about austerity, but he is only making the economy worse. Obama, (who doubled the national debt), had a final budget deficit of $585 billion. Trump’s first main budget (according to the CBO) would have a deficit of $715 billion. (His aggrandizing of defense spending and foreign policy belligerence look an awfully lot like American exceptionalism and not any new sort of “America First.”) At the same time his tax plan (lowering tax rates for the rich and big business, without a plan as to how to get a corrupt congress to actually reform the tax system and cut out the loopholes), is an true economic disaster in the making. I frankly do not think that Congress will agree to real estate taxes with an exemption below only $500,000. Most of the affluent people’s houses in metropolitan areas cost much more than that. So therefore the deficit associated with this “tax reform” will be even worse.
Trump seems to be especially married to the bankrupt ideas of hypercapitalistic capitalism, almost as a religion. I say again, there is NO WAY to pay for the tax cuts, it is not realistic to think you can afford a major stimulus now, Trump’s plan will not heat up the economy much, and the economy is at the breaking point. We desperately need sound economic policy, like a slightly progressive fair and flat tax, and REAL tax reform. Congress is far too corrupt for that, but they are digging their own economic graves. Trump assumes his policies will grow the economy at three percent a year, but that is not the case, you CANNOT hope to have sustained economic growth based on purchases by only the top 5 or 10 percent of us. And sure as God is not mocked, the suffering and misery of the lower 50 percent of us WILL cause real economic problems, leading into the future. And the masses are increasingly fed up: just look through the various Christian militia web postings. This will not go on as before indefinitely. The (real) misery index (not the fake statistics) is the best known predictor of the economic future, and is worse than it was in 1929. And investing in stocks is now more risky than at any time except 1929 and 1999, when stocks fell 88 percent and 50 percent, respectively. There are other indicators which say the economy could easily collapse suddenly and unexpectedly, as well. Get the picture?
For those of you interested, the renowned psychic Edgar Cayce made four mind-blowing predictions for 2018.
Let me sum all this up: The super-rich had better wake up to the truth. Right now, greed and the poverty of the lower class are the two over-riding factors working against the interests of the rich.
from The 5th Dimension
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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?