Sunday, December 8, 2019

History Repeats: The Continuing Threat to Freedom and Democracy

from Jesse’s Café Américain:
Lately it has been popular in some circles to talk about the US being a ‘late stage democracy’ that has ‘never been more ripe for tyranny.’

Sometimes they like to drag in Plato to give their thought pieces a gleam of higher learning and a supposed grounding in history.

But their pieces fall into that trap, that very sort of temporal vanity and self-centered preoccupation to despair that Newman notes so well in saying that “every century is like every other, and to those who live in it seems worse than all times before it.”

Would you be surprised to hear that less than one hundred years ago there was an actual plot, bankrolled by some of the most powerful and famous figures of the American one percent, to use military force to depose a sitting American President and instead install a fascist in the White House who would be more compliant with their greed and lust for power?

The model for this takeover would have been similar to Benito Mussolini’s infamous ‘march on Rome.’

Another Reason Men Don’t Work: Imaginary World More Enjoyable than the Real World

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by Mish Shedlock, Mish Talk:
President Trump, like President Obama before him, point out the low unemployment rate as a measure of success.

What they don’t point out are masses of people on welfare via fraudulent disabilities, people in school wasting money in dead-end retraining exercises, people who have simply given up looking for a job, and people in forced retirement needing Social Security payments to survive.

A team of researchers from Princeton, the University of Chicago, and the University of Rochester discusses another class of individuals who are not working but are not counted as unemployed: People, primarily young men who are addicted to games. For such individuals, games provide a fantasy world that is far more enjoyable than the real world.

TRUMPCARE COLLAPSES WHICH CAUSES THE DOLLAR TO DRAMATICALLY FALL: THIS RESULTS IN GOLD RISING $7.50 AND SILVER ANOTHER 16 CENTS

FOR THE 3RD CONSECUTIVE DAY, GOLD RISES AND YET MASSIVE AMOUNTS OF GOLD LEAVE THE GLD PROBABLY HEADING FOR SHANGHAI
from Harvey Organ:

SILVER ALSO WITNESSES A WITHDRAWAL OF 946,000 OZ DESPITE SILVER’S 16 CENT RISE

In silver, the total open interest ROSE BY A TINY 162 contract(s) UP to 206,753 DESPITE THE HEALTHY RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 17 CENT(S). THE ONLY EXPLANATION THAT I CAN THINK OF IS SOMETHING HAS SCARED OUR BANKERS TO NO END AS THEY HAVE STARTED TO COVER THEIR SHORTFALL IN EARNEST ALONG WITH OUR SPECULATOR SHORTS. HOWEVER THE BANKERS ARE HAVING AN AWFUL TIME TRYING TO SHAKE THE SILVER LEAVES FROM THE SILVER TREE.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.034 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 24 NOTICE(S) FOR 120,000 OZ OF SILVER

In gold, the total comex gold ROSE BY A RATHER SMALL 2,039 CONTRACTS WITH THE RISE IN THE PRICE OF GOLD ($4.20 with YESTERDAY’S TRADING). The total gold OI stands at 485,866 contracts. AGAIN, AS IN SILVER SOMETHING HAS SCARED OUR BANKERS AS THEY STARTED TO COVER THEIR GOLD SHORTS IN EARNEST ALONG WITH THE NEWBIE SPECULATOR SHORTS. THE PLETHORA OF DATA RELEASED ON FRIDAY SHOWING RETAIL SPENDING BASICALLY COLLAPSING ALONG WITH SMALLER INFLATION NUMBERS MUST BE SCARING THESE GUYS TO DEATH.

Read More @ Harveyorganblog.com

Killing the Goose

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by Jeff Thomas, International Man:
I’m frequently asked by Americans how long I think the “recovery” will take. From my point of view, the answer is obvious, but then, I don’t spend my evenings watching American news programmes that have, since 2010, been endlessly claiming that a genuine recovery is right around the corner.

It would seem logical to me that when the news anchor who cried wolf (claimed the imminence of recovery over and over with no result) proved to be either exaggerating, or just plain misinformed, my faith in him, his programme, and his network would diminish considerably.

But, what if all the news anchors on all the programmes on all the networks claim that a recovery is unfolding? Surely, there must be truth in the claim.

John Rubino – Yellen’s Retreat and the Rise of the KleptoCurrencies

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by Kerry Lutz, Financial Survival Network:
John Rubino joined us for a discussion of Fed Chairwoman Janet Yellen’s retreat from so-called interest rate normalization. Looks that raising rates is off the table for the foreseeable future. Can QE to infinity be far behind. Things aren’t so good in the Crypto-currency space. Prices of Bitcoin et al., have been hitting the skids the past week. Will it continue? As of last Wednesday there were 970 Crypto-currencies. Does the world need any more? But it’s sure to get them regardless. Let’s see where they head now.

Click HERE to Listen

US Military Establishment Study Admits The American Empire Is “Collapsing”

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from Zero Hedge:
A new study conducted by members of the U.S. military establishment has concluded that the U.S.-led international global order established after World War II is “fraying” and may even be “collapsing” as the U.S. continues to lose its position of “primacy” in world affairs.

“In brief, the sta­tus quo that was hatched and nurtured by U.S. strategists after World War II and has for decades been the principal ‘beat’ for DoD is not merely fraying but may, in fact, be collapsing,” the report states.

Janet Yellen Blames A Federal Reserve Induced Faltering Economy on… Wait For It… Drugs!

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by Jeff Berwick, The Dollar Vigilante:
Central planning is only good for two things. Poverty and comedy.

The stories from the Soviet Union central planners are just that. They caused abject poverty for hundreds of millions of people AND created hilarious stories about shortages of such things as right shoes. The claim was that two factories were set up, one to make left shoes, and one to make right shoes. But when the factories started in production it was discovered that both were making left shoes creating a massive shortage of right shoes.

When central planning is involved get ready for starving people and laughs galore!

One of the world’s most popular tech companies just lost another $2 billion…

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by Simon Black, Sovereign Man:
Last night Netflix executives announced that a record 104 million people worldwide now subscribe to its service.

This number handily beat what analysts were expecting, and the stock SURGED nearly 9{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} to an all-time high. Netflix is now trading at more than 200 times earnings.

Look, I like Netflix. House of Cards is entertaining.

But you shouldn’t invest in a business based on its number of customers and quality of content alone.

SUPPLY-SIDE ECONOMICS, THEORY AND RESULTS

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by Paul Craig Roberts, Paul Craig Roberts:
Supply-Side economics burst onto the economic policy scene in Washington, D.C., on September 21, 1975 in the Sunday Washington Star in an article I had written for US Representative Jack Kemp that provided a supply-side economic basis for his capital formation bill. Subsequently, I generalized the supply-side approach when I realized that changes in marginal tax rates altered relative prices and could shift the aggregate supply side curve. Until that time, economists assumed that fiscal policy only impacted the aggregate demand curve.

Today 42 years after this article and 36 years after the passage of the Economic Recovery Tax Act that constituted the supply-side economic policy of President Reagan, there is still scant understanding of the economics that cured stagflation and enabled Reagan to pressure the Soviets to end the Cold War.

What’ll Happen to US Commercial Real Estate as Chinese Money Dries Up?

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by Wolf Richter, Wolf Street:
See Manhattan.

In the second quarter in Manhattan, Chinese entities accounted for half of the commercial real estate purchases with prices over $10 million. By comparison, in 2011 through 2014, total cross-border purchases from all over the world (not just from China) were in the mid-20{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} range.

“At a time when domestic investors have pulled back, foreign parties have ramped up their holdings in Manhattan,” according to Avison Young’s Second Quarter Manhattan Market Report.

This includes the $2.2 billion purchase in May of 245 Park Avenue by the Chinese conglomerate HNA Group, the sixth largest transaction ever in Manhattan. And at $1,282 per square foot, it was “among the highest price per pound for this type of asset.”

My Mother Wasn’t White Trash

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from Jesse’s Café Américain:
“At first reading, the story of my mother’s life seems like little more than a tragedy. However, it is much more than that. Her story reveals the stark realities of growing up poor. All across Appalachia, there are thousands of women just like my mother working, striving, struggling, just to exist. So many people in Appalachia have broken minds and broken bodies and broken hearts, and they do nothing more than survive because that’s all they can do.

It is as popular now as ever to blame poor people for their station in life. Republican politicians love to talk about how poor people could stop being poor if only they made better choices or worked harder. If only they’d stop buying iPhones, they could afford insurance! These assholes – and I do not use that slur lightly – have no clue what it is like to grow up poor. They have no clue how hard it is in many places in the US just to keep the lights on and food on the table.