from Geopolitics & Empire:
by Alasdair Macleod, GoldMoney:
This article is a wake-up call for those who do not understand the true purpose of monetary inflation, and do not realise they are the suckers being robbed by monetary policy. With the world facing a deepening recession, monetary inflation will accelerate again. It is time for everyone to recognise the consequences.
All this year I have been warning in a series of Goldmoney Insight articles that the turn of the credit cycle and the rise of American protectionism was the same combination that led to the Wall Street crash in 1929-32 and the depression that both accompanied and followed it. Those who follow statistics are now seeing the depressing evidence that history is rhyming, though they have yet to connect the dots. Understandably, their own experience is more relevant to them than the empirical evidence in history books.
by Mac Slavo, SHTF Plan:
In just the month of May, the United States government spent $208 billion that they didn’t have. By stealing from future generations and kicking the ever-heavier can down the road, the government is all but ensuring a dollar collapse.
Washington posted a $208 billion budget deficit in May as a modest increase in revenues failed to make up for higher spending on the military and social welfare programs like Medicare, according to data released on Wednesday by the Treasury Department. The deficit was the highest ever for the month of May and wider than the average forecast of $185.5 billion in a Reuters poll of analysts. Government spending rose to $440 billion, up 21% from May of 2018. Receipts increased to $232 billion, up 7% from the same month last year.
by Doug Casey, International Man:
International Man: For many years, President Trump has made no apologies for trying to pay the least amount of taxes possible. He’s clearly stated this in many interviews.
His desire to minimize his taxes has brought scorn from many in the mainstream media, and politicians from both sides of the aisle. These people are of the opinion that paying taxes is an honorable and necessary responsibility. It brings to mind the wrongheaded saying “taxes are the price we pay for a civilized society”, which came from US Supreme Court Justice Oliver Wendell Holmes. Many people believe this.
from Silver Doctors:
I’ve spent the past 15 months in Costa Rica (and no, I didn’t bump into Jim Willie 🙂 .
What I’ve witnessed across the heart of America’s farmland in the past few weeks is simply jaw-dropping…
(and for any still wondering- yes, America’s ChemSkies™ are a real thing: I saw nothing but deep, sapphire blue skies year round in Costa Rica…a land where the sun actually still shines when its not raining)
by Charles Hugh Smith, Of Two Minds:
If we look at these charts, it looks like only the top 10%, or perhaps the top 20% at best, might qualify as “middle class” by the metrics described below.
The conventional definition of working class is based on income and education:the working class household earns between $30,000 and $69,000 annually, and the highest education credential in the household is a two-year community college degree or trade certification.
The definition of the middle class is also based on on income and education, but adds financial security as a metric: the middle class household earns $80,000 or more, holds 4-year college diplomas or graduate degrees, owns a home, has a 401K retirement account and so on.
by Dave Kranzler, Investment Research Dynamics:
Elon Musk should have considered a career as a children’s fairytale author. He would have made multiples of his current net worth selling his amazing fantasies and optioning the movie and tv series rights. He’s spent the better part of the last few years spinning fantasies as a means of addressing the growing army of analysts and truthseekers who report the facts about Tesla. He’ll say anything in an attempt to drive the stock price higher. The “funding secured” $420 buyout fraud is just the tip of the iceberg, if not wholly emblematic of Musk’s desperation to succeed.
by Wolf Richter, Wolf Street:
This, despite still ultra-low interest rates and the highest disposable income ever.
Canadian households are known around the world for their uncanny ability to pile on debt. And American debt slaves, who’d gotten trampled during the Great Recession, turn out to be lackadaisical these days in comparison.
The share of disposable income (total incomes from all sources minus taxes) that Canadian households spent on making principal and interest payments on their ballooning mortgage debts and non-mortgage debts reached a new record of 14.9% in the first quarter, despite still ultra-low interest rates and despite the highest disposable income ever, according to data released today by Statistics Canada: