Russiagate: A New Deep Dive into the Media’s Stunning Lies, Corruption, & Complicity | SYSTEM UPDATE #32


Posted originally on Rumble by Genn Greenwald Streamed on: Jan 31, 7:00 pm EST

Glenn Greenwald always has good stuff to read

Gallup Poll – Gov’t is Our Greatest Problem


Armstrong Economics Blog/Uncategorized Re-Posted Feb 1, 2023 by Martin Armstrong

Gallup has just confirmed what our computer has been forecasting especially since 2011. The majority of Americans now say that a lack of leadership from President Biden and Congress is the country’s biggest problem and that means the entire world. Perhaps aliens should have a right to vote for the decisions of the Biden Administration are destroying lives around the world.

The Gallup Poll shows that it is the collapse of confidence in a government that is now viewed as the greatest threat even more so than inflation, ​the immigration crisis, and the state of the economy. Despite Americans suffering economically with higher taxes and inflation reducing the standard of living, they have cited that “the government/poor leadership” is now in the No. 1 spot taking that place from inflation over the past year. Gallup has reported that 21% of Americans name our incompetent government as the “most important problem facing this country today​” compared to the 15% who said so last year, a Gallup Poll found.

​Inflation and the economy ​came in last year as the top two issues — tied at 16% each — followed by the government (15%), immigration (8%), and unifying the country (6%). ​However, over the past year, Americans’ concerns with the economy fell 6% to 10%, with ​inflation falling one point to 15%, and immigration rose 3 points to 11%.

Just wait until they realize that the Biden Administration is so incompetent, it has allowed the Neocons to wage World War III on two fronts – China and Russia. These people will destroy Western Civilization and that is what 2032 is all about.

Fox News – “ominous Great Depression warning”


Armstrong Economics Blog/Economics Re-Posted Feb 1, 2023 by Martin Armstrong

Fox Business is reporting that economic conditions are much worse than you are being told.  Unfortunately, this is the conclusion when you have ZERO understanding of the historical trends and economic conditions. It is true that the shortages of COVID have caused prices to rise faster than economic growth and most incomes.  Therefore, they conclude that our standard of living has been rapidly declining.  The number reveals that more than one-third of all U.S. young adults are being supported in part by their parents. Thanks to COVID, this disrupted society far greater than anyone is reporting. In addition to the shortages because of the lockdowns, by the end of 2020, more than half of young adults in America were living with one or both parents. That statistic actually exceeded the record high of the Great Depression.

Here is the worst part of this analysis. Many are jumping on the bandwagon claiming that the decline in real disposable income has been the largest since 1932 and therefore, this is a warning sign of a Great Depression is coming. They seem to be focused on the fact that the GDP report showed a significant decline in real disposable income, which fell over $1 trillion in 2022. Now let’s look closer!

First of all, the entire reason why unemployment rise to 25% during the latter part of the Great Depression was the Dust Bowl. Why? At that time, about 40% of the civil workforce was still agrarian. The Dust Bowl meant job loss. If you could not even plant crops, there was no need for people to pick crops.

Service during the Great Depression accounted for 17% of the workforce compared to 44%+ today. Government, federal, state, and local, was 22% of the civil workforce during the Great Depression compared to 33% by 1980. Things have continued to evolve and by 2019, services represent 79.41%. Agriculture is now a tiny fraction of what it once was – 1.41%.

In the USA, at the state level, their share of the civil workforce varies greatly. Florida is at about 11.3% compared to New Mexico which is 22.5% – a government employee’s paradise. The lowest is Michigan at 10.1%.

During the Great Depression, the entire reason for the collapse in disposable income was the collapse in agriculture which created a collapse in income due to massive unemployment. That is totally different from the crisis we have today.

Here we have rising prices due to shortages and then central banks raising interest rates in a fool’s quest to stop inflation when it is not based on speculation. Moreover, the biggest borrower is the government, and rising interest rates will only increase their exposure to keep rolling over the debt. Therefore, governments have been borrowing year after year. What happens when the public no longer buys their debt? Real disposable income has been collapsing for completely different reasons since 1932. Here we have the costs of everything rising and then these people want war with Russia and China. Every war since the start of recorded history has resulted in inflation. Add to this, the total insanity of trying to end climate change by outlawing fossil fuels at a time when the climate is prone to getting colder.

We are already witnessing riots around the world BECAUSE of inflation. During the Great Depression, people were suffering from DEFLATION. So comparing just that statistic of a decline in personal income and projecting we now face a Great Depression, does not even qualify to be classified as analysis. That is no different from someone warning that carrots must be lethal because everyone who has ever eaten a carrot has obviously died.

More Russian Sanction = World War III


Armstrong Economics Blog/Russia Re-Posted Jan 29, 2023 by Martin Armstrong

For the life of me, there is absolutely no logic to any of this attack on Russia except the desire to conquer and destroy it as any sort of a superpower or independent nation-state. Every President always sought peace until Biden who seems to be reading the cur cards for Armageddon. Even Henry Kissinger said every president has invited him to the White House EXCEPT Biden.

Even if we assume that the sanctions worked and forced Putin to withdraw from protecting the Russians in the Donbas whom the West had all agreed were entitled to their human rights and self-determination with the fake Minsk Agreement, what would happen in the political crisis in Russia? We confiscated all Japanese assets, put energy embargoes on them, and threaten to prevent them from dealing with any other country for energy. Roosevelt did everything he could to get Japan to attack Pearl Harbor. Biden has done the same to Russia.

The risk of overthrowing Putin would lead to a potential civil war and the further breakup of Russia with more nukes than the West. Of the 14,500 nuclear weapons on the planet, Russia and the United States own the lion’s share, with a combined total of approximately 13,350 nukes. The remaining 1,150 weapons are held by seven countries. The USA has 6,500 nukes and Russia has 6,800. Destabilizing Russia is just insane. Russia will wipe out Europe in the blink of an eye if pushed and they now know that this Ukraine bullshit is really a war of the USA and NATO against Russia and we are the aggressors.

I can say that US troops have been told that we will be at war with China by next year.

All my sources are saying that the Biden Administration is DOMINATED by inexperienced climate zealots who are demanding we have no time to wait and we MUST end fossil fuels NOW before there are any alternatives in place. They are the ones pushing to destroy Russia which is embraced by the Neocons, all because the majority of their GDP is all fossil fuels.

The sanctions now are imposed by the European Union and will ban imports of refined Russian fuels on February 5th, 2023, adding to its embargo on seaborne Russian crude oil that began in December. The EU is putting its entire future and the lives of ALL its population at risk for the Donbas which has been occupied by Russians for centuries and two former Russian leaders came from that region. It was Khrushchev who drew the border within the USSR purely for administrative purposes. That region was never occupied by Ukrainians.

There is no difference if Mexico had demanded Texas and everyone who lives there must surrender their language and their religion to fit the norm of being Mexican. Then Texans have no right to vote on their future. The entire Minsk Agreement has been a joke. It was a deliberate ploy to buy time for war. This has now confirmed to both China and Russia that the United States and Europe cannot be trusted. Treaties mean absolutely nothing! this stupid ploy has opened the door for World War III because there is no point negotiating with the EU, Germany, France, or the United States when they will not HONOR their agreements. That means there can be no resolution!

That leaves only All Out War to the Death

But hey! There will be new business opportunities as well. Just think of the guided tours to show how foolish these mortals have been. There will be plenty of nuked cities to explore. The good news, we will exterminate all the climate change zealots who insisted on destroying Russia. Yet it may be up to us to prevent the politicians from crawling out of their safe underground bunkers to the new light of CO2 free world after they killed off all those nasty trees and plants that need CO2 to survive. They say the one bug that will survive a nuclear attack is cockroaches. I guess that’s why we are supposed to eat bugs now.

Revealed: Mass Media Complicity in “Russian Disinformation” Fraud, w/ Matt Taibbi | SYSTEM UPDATE #30


Glenn Greenwald Posted originally on Rumble on: Jan 27, 7:00 pm EST

More information on the Russian Trump collusion hoax scam

The Coming Great Global Default


Armstrong Economics Blog/Economics Re-Posted Jan 25, 2023 by Martin Armstrong

QUESTION: Dear Martin
Could you please describe more in detail what you are expecting when talking about the breakdown of the monetary system?
Will there be differences between countries like Germany and Switzerland for example? Especially regarding pension systems.
I assume, there might be big differences between countries.
Many thanks and best regards,
R.

ANSWER: The monetary system collapsed with the winning of the American Revolution. The state currencies and the federal Continental Currency were all exchangeable to the new currency which became the U.S. dollar. There was a great disparity among the states with each being rated by the marketplace for the swap. Even when they created the Euro, there were differences between each currency.

The IMF right now is pushing very hard behind the curtain to replace the dollar with an IMF digital currency that they want to become the reserve currency. This would be EXTREMELY dangerous for the IMF is deep in corruption. The complaint of China, for example, is that the dollar is the reserve currency and they see that as a dangerous power in the hands of an adversary.

I have written much on the real problem of the dollar acting as the reserve currency and that this has thrust the Federal Reserve into the default role of the central bank of the world. The problem is all the propaganda against the Fed that is spun by the goldbugs which totally distorts the real crisis. They try to sell gold only on the quantity theory of money which dates back to the 17th century. It is so antiquated it is laughable. It is entirely domestic-focused to the exclusion of the world economy and international capital flows. Unfortunately, the Federal Reserve is also living in the past and only sees the economy in domestic terms making it Fed Policy v Fiscal Policy, over which they have no control.

Only when you understand international capital flow movement will you ever even catch a glimpse of the real world. World War I sent the capital fleeing Europe and rushing to America. Because that capital was here, it increased the domestic buying power and the Europeans made the 1920s ROAR. They were participating in the Auto-Stock-Boom.

The first G4 took place in 1927 when the other central banks argued that the US had to lower its interest rates to deflect international capital which was needed in Europe to rebuild. Indeed, the capital inflows peaked in 1927 and began to decline. But it was the Sovereign Debt Crisis of 1931 that compelled major capital outflows to cover losses at home.

Hoover explained the crisis in 1931 in his Memoirs. So to answer your question will take a major report which I intend to publish. The subject is highly complicated and there will be major divergences that people must be aware of. The bottom line is that all governments intend to default on their prior debts. That is what unfolded even with the collapse of the Continental Government after winning the American Revolution.

We see similar outcomes also in France with their Revolution. We are staring into the eyes of a major global default in debt and we are on schedule cyclically for the next sovereign default period.

Here We Go Again – Altering the Formula for CPI


Armstrong Economics Blog/Inflation Re-Posted Jan 24, 2023 by Martin Armstrong

There are some who are claiming that the revision of the CPI is to help the Federal Reserve stop fighting inflation. This is typical for Americans who only watch the Fed and nothing else. The formula for the CPI has been routinely altered. Real Estate used to be included but when that was rising too much, they replaced that with rents. When rents started rising, they replaced them with controlled rents.

This is NOT about helping the Fed to lower rates or stop raising rates as the majority seem to be touting. Powell is not that stupid and this will have ZERO impact on Fed decisions going forward. This is all about government spending which is a far greater problem than worrying about the pressure on the Fed. Virtually EVERY government program is automatically INDEXED to CPI. Thus, agencies’ budgets are automatically increased each year based on the CPI. Your taxes are indexed to the CPI. By reducing the CPI, they collect more taxes! There is NOBODY in Congress or at the Bureau of Labor Statistics that gives the Fed a second thought.

Even if we look at inflation using the pre-1980 formulas, the CPI is approaching 10%! When we calculate inflation by eliminating everything that is really irrelevant and focusing on food, energy, transportation, and taxation, which they do not consider at all, the reality of our number came in at 32% for 2022. That is a far cry from the official number. This is simply calculated by Socrates from an unbiased perspective.

What a new wonderful world the Biden Administration has created. Thank you, COVID & the Russian Sanctions. The largest increase we found was obvious fuel between gasoline and diesel used in trucking and homes averaging 65%+ Turning to basic food, eggs were up nearly 50%, flour rose by 25%, cooking oil 23%, butter was up 35%, Chicken by 14%, and Rice by 18%. If we throw in toothpicks, paperclips, etc, then the more we can include the lower the inflation rate. We do not include rent or real estate. Our number is far more accurate to the daily living expenses than the near 10% level of the government. They also do not include sales taxes. The national average rise in rental rates was 7.8%, in Florida it was 8.5%, and in NYC 1.5% when controlled.

When I would buy a desktop IBM XT during the 1980s, it was always about $7,000 for a top-of-the-line. Today, that cost has come down significantly. Obviously, we do not buy computers every week. Should that really be part of a formula? The BLS has made so many revisions to the CPI over the decades it is really a political tool these days.

Back in the ’90s, our staff was dissecting every statistic. We discovered that they were overstating economic growth because they counted government employees twice. The total all personal income, and then government spending. I called the head of the BLS and asked surely this had to be backed out somewhere for hiring government employees to increase GDP rather than the private sector. They reviewed it and finally just said – no comment.

The idea that this latest revision of using one year as a weight instead of two will allow the Fed to stop tightening is really the rantings of people who only look at the Fed for everything as their guidance. There is a lot more incentive behind this revision and the Fed was not a consideration.

The Coming Wealth Tax – Pocahontas’ Dream Come True


Armstrong Economics Blog/The Hunt for Taxes Re-Posted Jan 19, 2023 by Martin Armstrong

Elizabeth Warren’s Wealth Tax is now moving forward in the leftmost Democratic States – California, Connecticut, Hawaii, Illinois, Maryland, New York, and Washington state. Naturally, Pennsylvania, Delaware, and New Jersey are paying very close attention as they lick their lips at the thought of untold billions in new revenue to cover faltering government employee pension plans caused by artificially low interest rates. Even federally, the US has bumped its head on the debt ceiling. Without question, the ceiling will have to be raised again but with a lot of pomp and circumstance and perhaps a few fistfights on the floor. Yet the primary dealers cannot handle all the debt pouring out and there is a declining appetite for anything long-term as the Bide Administration wages direct proxy war against Russia until the last Ukrainian falls on the battlefield and NATO troops then revenge their deaths.

Socialism is collapsing and governments will fight to their last breath until the politicians are dragged out and hung on the streets as is typical in such cases of economic malfeasance. What is emerging at the state level is simply versions of Warren’s Wealth Tax which will be applied to WORLDWIDE assets. The hated rich policies, who have provided all the jobs over the centuries by creating industries, are to be stripped mined.

SELL YOUR HOUSE WHILE YOU STILL CAN AND MIGRATE NOW!

Once these Wealth Taxes enter the game in 2024, that will be the peak of the ECM and only a braindead person would want to buy your house in those states! The Year 2024 will be the Decline and Fall and you better pay heed to what is unfolding on this level. The Wealth Tax will be a permanent property tax you will pay even when you are losing money. It will NOT recognize a decline in the value of assets until they are sold.

December Retail Sales Drop -1.1%, November Sales Data Revised Lower to -1.0%


Posted originally on the CTH on January 18, 2023 | Sundance 

There is something predictable about Main Street economics, eventually what you see around you overwhelms the great pretending.  CTH has been outlining the state of the consumer economy in great detail for quite a while, and though it is difficult to note when the outcomes will surface, eventually they do surface. [Reminder Here]

CONTEXT. CTH outlined the moment when the purchasing power of the U.S. middle class actually began contracting.  It was March and April of 2021 when that Rubicon was crossed.  We saw it in the second and third quarter data from 2021, but few were willing to admit.

What changed in those two months back in ’21 was a dramatic drop in the “unit sales” of stuff within the consumer economy.  The drop in unit sales was hidden because it happened simultaneously with the first wave of massive spike in prices.  Prices rose so fast the sales data was giving an artificial impression of sales growth, but in the background the actual unit sales dropped.   Those analysts correcting and adjusting historic data to ‘inflation adjusted terms’ are now noticing.

Additionally, and not coincidentally – because the metrics are connected, you will note this line from the Wall Street Journal review of the producer price index. “The producer-price index, which generally reflects supply conditions in the economy, rose 6.2% in December from a year earlier, the Labor Department said Wednesday, the slowest annual pace since March 2021.”  In essence, the current rate of wholesale price increase on materials is now returning to the rate of price increase that happened in the period when prices spiked.  Again, this is predictable.

Inflation is the measure of the ‘rate’ of price increase over time.  March and April of 2021 were the beginning of the first inflationary spike.

Driven almost entirely by the supply side shock from Biden energy policy, in the subsequent 20 months the rate of price increase skyrocketed, peaked August 2022, and now the rate of increase starts returning.  This does not mean price declines; this means the rate of growth in the price increase is lessening.

This is a cyclical outcome.

After 20 months of dropping unit sales, a result of massive price increases; and as the rate of inflation now starts to moderate created by the cyclical nature of it; what we now see is the inability of the price increases to continue hiding the drop in unit sales.   [Background pdf Data] Total retail sales data is now exposed and that’s why we will see this increasing story about negative sales data as the inflation cycle plateaus.

(Via Wall Street Journal) – Retail spending fell in December at the sharpest pace of 2022, marking a dismal end to the holiday shopping season as rising interest rates, still-high inflation and concerns about a slowing economy pinched American consumers.

Purchases at stores, restaurants and online, declined a seasonally adjusted 1.1% in December from the prior month, the Commerce Department said Wednesday. Sales were also revised lower in November and have fallen three of the past four months.

The decline in retail spending late last year adds to signs that the U.S. economy is slowing. Hiring and wage growth eased in December, U.S. commerce with the rest of the world declined significantly in November, and existing-home sales have fallen for 10 straight months. The Federal Reserve said Wednesday that industrial production slumped in December, led by weakness in the manufacturing industry.

S&P Global downgraded its estimate for fourth-quarter economic growth by a half percentage point to a 2.3% annual rate after Wednesday’s data releases. Economists surveyed by The Wall Street Journal this month expect higher interest rates to tip the U.S. economy into a recession in the coming year.

“The lag impact of elevated inflation weighs heavily on U.S. households, it’s very clear that the median American consumer is still reeling from the loss of wages in inflation-adjusted terms,” said Joseph Brusuelas, chief economist at RSM US LLP. “We’re moving towards what I would expect to be a mild recession in 2023,” he added. (read more)

When the Baghdad Bob economic pretenders say, “mild recession,” anticipate something more akin to a mild nuclear meltdown, something with breadlines and soup kitchens.

Now, you must keep in mind that almost every financial media outlet used the same Retail Federation talking point about anticipating an 8% increase in holiday sales last year.  [Reminder] Apparently, collective pretenses must be maintained.  Meanwhile, news crews and camera crews were having a desperate time finding any holiday shopping to use as background footage for the claims that sales were strong.  Here we are in January and the pretending has hit reality.

Negative retail sales in November and December when prices are roughly +10% over the prior year, means the unit sales collapse was far more dramatic…. Far more.

Trying to survive policy driven price increases in housing costs, energy costs, electricity costs, home heating, food and fuel costs has forced consumers to reevaluate purchasing decisions.  Consumer demand for non-essential items has collapsed, and Americans are dig deep into their savings just to sustain unavoidable expenses.  Eventually, pretending this is not happening is going to run into the wall of reality.

On one hand the leaders of large multinationals must pretend everything is splendid; after all, the only acceptable position they can articulate is to support interest rates being raised because demand is just too darned high….  pretending.  But on the other hand – those same suppliers and multinationals are furiously trying to calculate how to avoid being stuck with billions worth of unsold inventory and idle industrial equipment.

Who is America’s Enemy? Russia or the other Political Party?


Armstrong Economics Blog/Politics Re-Posted Jan 18, 2023 by Martin Armstrong

In writing the Greatest Bull Market in History, published in 1986, I had to do all the original research. I read all the newspapers daily year after year to come to the realization that attitudes shift back and forth. It became very obvious that before FDR and the introduction of Marxism to the United States, the focus was on markets. With Roosevelt, he weaponized the Federal Reserve and just about everything else to further his agenda. Roosevelt demonized Pierre du Pont for he made a lot of money providing the weapons for World War I. Roosevelt called him the Merchant of Death, but then suddenly needed him again for World War II.

The nation is dividing significantly. This is why the United States cannot stand divided. The latest poll demonstrates that the forecast made by our computer is unsurpassed. The question presented was who is our enemy?

For Democrats, the top three results named Russia (31 percent) as our “greatest enemy,” followed by Republicans (26 percent) and China (16 percent).

For Republicans, the top three are China (35 percent), Russia (33 percent), and Democrats (12 percent).

We now are starting to see that we have an enemy within – the opposite political party. This is absolutely essential for it confirms the forecasts of our computer that have been common since our 2011 WEC.