Category End of the Middle Class

Mar 23 2023

The Fed Does Not Back Down


Armstrong Economics Blog/Interest Rates Re-Posted Mar 22, 2023 by Martin Armstrong

COMMENT: Marty, it’s refreshing to have Socrates that is totally unbiased. It projected continued rising rates into next year and the Fed just proved its point. It is not backing down.

Thank you. Socrates is very enlightening.

GS

ANSWER: I know there were a lot of talks that surely the Fed had to lower rates and start QE all over again. Most of those sorts of comments have no real experience in markets. They just mouth a lot of hot air. Perhaps instead of putting masks on cows, we should do that on the shills. The Federal Reserve had no choice but to raise interest rates although it was just by a quarter point. Not to do so and the Fed would lose all credibility and the market would then not take them seriously.

You MUST understand that this crisis has unfolded because too many banks were wrapped up in WOKE culture and hired people who were UNQUALIFIED to run risk management. Some were more excited about cross-dressing as a woman and winning the Rainbow award in banking than actually protecting the bank from the risk of rising interest rates.

In a statement released at the conclusion of the meeting, Fed officials acknowledged that recent financial market turmoil is weighing on inflation and the economy, though they expressed confidence in the overall system. “The US banking system is sound and resilient.” They had no choice but to make this statement.

“Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation. The extent of these effects is uncertain.”

The Fed is saying that their rise in rates will in fact reduce inflation and economic activity. The banks have this yield curve risk and that is different from the 2007-2009 crisis where the debt was based on fraud. Here, the debt is US Treasuries so they are not going bankrupt from that aspect, but it is a liquidity crisis.

If these people who scream loudly but know nothing really about finance keep up the nonsense, they will only add to the uncertainly. This inflation is accelerating thanks to the war.

Mar 22 2023

The Banking & Debt Crisis Continues


Armstrong Economics Blog/Banking Crisis Re-Posted Mar 22, 2023 by Martin Armstrong

The banking crisis continues and it is impacting funds that have been buying bonds. Allianz, a subsidiary of Pimco, is writing off countless millions with Credit Suisse bonds. The banking crisis has been the result of artificially low-interest rates for far too long and banks were used to free money and buy long-term bonds all because they were making their money on the spread. Now that rates are rising, their risk management was effectively nonexistent, and thus the losses and widespread.

The Allianz subsidiary Pimco is one of the largest asset managers in the world. They have to now write off a loss in Credit Suisse bonds and it’s ain’t over yet as we head into April 10th.

Mar 13 2023

Mike Pence Blames President Trump for Events at Capitol Hill on January 6, 2021, “his reckless words endangered my family … history will hold Donald Trump accountable”


Posted originally on the CTH on March 12, 2023 | Sundance

Speaking at the Gridiron Dinner in Washington DC yesterday, former Vice President Mike Pence directly blamed President Trump for the events in Washington DC on January 6, 2021, saying:

“President Trump was wrong; I had no right to overturn the election. And his reckless words endangered my family and everyone at the Capitol that day, and I know history will hold Donald Trump accountable.”  ~ Mike Pence

Be of good cheer.  Despite the main takeaway being pushed by mainstream media, these remarks strike me as good news.

These remarks indicate to me that the professional Republican control officers are growing increasingly desperate as President Trump continues to command the new Republican Party.  If Ron DeSantis was making ground, the professional Republican class would not be as desperate as these remarks convey.  All of their collective GOPe effort isn’t working…. they are starting to reach for the kitchen sink.

WASHINGTON (AP) — Former Vice President Mike Pence on Saturday harshly criticized former President Donald Trump for his role in the Jan. 6 riot at the U.S. Capitol, widening the rift between the two men as they prepare to battle over the Republican nomination in next year’s election.

“President Trump was wrong,” Pence said during remarks at the annual white-tie Gridiron Dinner attended by politicians and journalists. “I had no right to overturn the election. And his reckless words endangered my family and everyone at the Capitol that day, and I know history will hold Donald Trump accountable.”

Pence’s remarks were the sharpest condemnation yet from the once-loyal lieutenant who has often shied away from confronting his former boss. Trump has already declared his candidacy. Pence has not, but he’s been laying the groundwork to run.

[…] With his remarks, Pence solidified his place in a broader debate within the Republican Party over how to view the attack. House Speaker Kevin McCarthy, for example, recently provided Tucker Carlson with an archive of security camera footage from Jan. 6, which the Fox News host has used to downplay the day’s events and promote conspiracy theories.

“Make no mistake about it, what happened that day was a disgrace,” Pence said in his Gridiron Dinner remarks. “And it mocks decency to portray it any other way.” (read more)

Mar 9 2023

Tucker Carlson Defends Himself Against DC Attacks – “We are learning who the liars are”…


Posted originally on the CTH on March 9, 2023 | Sundance

Tucker Carlson has been under blistering attacks from the administrative state in Washington DC, the professional media, Democrats and Republicans in congress as well as the agencies of the FBI, DHS and DOJ.  {Direct Rumble Link Here}

Mr. Carlson responded again tonight to the vitriol from the apparatus of government for his airing of the January 6th CCTV tapes and the fallout from the sunlight.  Extensive segment as aired – WATCH:


Feb 25 2023

BIDEN LEAVES OHIO TO DIE


Drew Hernandez posted originally on Rumble on: Feb 24, 10:34 pm EST

Feb 22 2023

West’s Duplicity – Biden’s Surprise Visit Before Putin’s Speech


Armstrong Economics Blog/Ukraine Re-Posted Feb 21, 2023 by Martin Armstrong

Biden made a surprise visit to Ukraine one day ahead of Putin’s National Address scheduled for February 21st. Biden had the audacity to put out the West’s constant propaganda:

“One year later, Kyiv stands. And Ukraine stands. Democracy stands,” he declared. “The Americans stand with you and the world stands with you.”

Putin is elected the head of Russia by its Parliament the same system that takes place in Britain, the EU, Canada, and every country with a Parliamentary system. Only the United States is where the head of state stands for election by the people. This nonsense that Ukraine stands for democracy against Russia is just total outright lies. This only demonstrates that we cannot trust a single word from governments in such times. As they say, truth is the first casualty in war.

Had the West simply been honest and honored what they negotiated that the Donbas under the Minsk Agreement was to be allowed to vote on their own separatist movement. All the deaths in Ukraine and their blood are on the hands of the West. This war would have NEVER taken place if the Minsk Agreement was honored.

Blinken has made it clear that the US will NEVER accept the Minsk Agreement and it was indeed only to buy time for a war they wanted from the start. The Biden Administration changed the arrangement with Ukraine in 2021 altering all previous agreements since 2008. This is a Neocon’s dream come true – a direct confrontation with Russia. He outright said that there shall be no peace by returning any land to allow the Russians of the Donbas to live in peace free of Ukrainian domination.

“If we do that, we will open a Pandora’s box around the world, and every would-be aggressor will conclude that, ‘If Russia got away with it, we can get away with it,’” Blinken said. “And that’s not in anyone’s interest, because it’s a recipe for a world of conflict.”

This illustrates the duplicity of the West and the desire for World War III. These are the people who are cheering the destruction of our future all for a strip of land that has been occupied by Russians for centuries.

Even China has come out and bluntly stated: “We would like a political solution to provide a peaceful and sustainable framework to Europe.” The US refuses to seek peace on any reasonable terms whatsoever. The arrogance of the United States is just astounding. They have told China not to aid Russia. As Fox News reported, China is furious after the US warns against arming Russia: “The US is in no position to tell China what to do.”

In all my years of dealing with governments, NEVER have I ever even once witnessed such stupidity and arrogance on the part of any government. This Biden Administration seems to be going out of its way to piss off just about everyone in the world to create World War III. This is just unimaginable. They seem to want to “shrink” the world’s population by 50% with war to get their pat on the back from Gates, Rockefeller Foundation, and Schwab. When you say it is your way or no way, that is not how you negotiate anything.

History will remember the Biden Administration with contempt as the Hitler or Napoleon of the 21st Century.

Feb 16 2023

JFK, Nixon & Trump


Armstrong Economics Blog/Conspiracy Re-Posted Feb 16, 2023 by Martin Armstrong

Despite the hatred that many pour all over Trump, they really should stop and think for a moment, that they have been subjected to brainwashing. I have stated before that I was invited to a dinner in March of 2020 at Mara largo where I was actually impressed by then-President Trump. He said he wanted to bring the troops home from Afghanistan because he was sick and tired of having to write letters to the parents of solider’s killed over there. He bluntly stated that he had no idea why were there. They were fighting over borders for 1,000 years. “What difference will we make?”

There is a common thread between JFK, Richard Nixon, and Donald Trump – all three stood against the Deep State. The first was assassinated, the second was set up with CIA operatives getting “caught” breaking ton the Watergate building, and the third was probably removed from office by rigged elections and now desperately trying to accuse him of anything to prevent him from running against in 2024.

John Bolton was against withdrawing troops from Afghanistan. Bolton has been a hardnosed Neocon and then lied to the people not disclosing that Trump had a whole team to figure out how to exit Afghanistan that Biden dismissed and then claimed the same end result would have happened under Donald Trump. I really do not know how these people can look at themselves in the mirror.

JFK and Trump were both against war. Both were conveniently removed from office. In the case of Kennedy, they put forth Oswald and linked him to Russia, but then conveniently had him assassinated to prevent any trial when today everyone knows that the CIA was behind it. The recent tapes have revealed that Richard Nixon bluntly said to the head of the CIA, I know who killed John. The CIA used Watergate to discredit Nixon and drive him from office also because he wanted to end the Vietnam War and understood the CIA’s role.

Then Trump wanted to exist in Afghanistan. But Iran shot down an unmanned drone and Bolton wanted Trump to launch an attack on Iran. Trump refused to retaliate for an unmanned drone. The CIA asked Trump to extend the deadline for their release of the Kenndy assassination files until after the election. He agreed, and they knew Trump would lose the election. Biden then granted them the right to withhold the most critical files that expose the real source – the CIA.

The Deep Stated wanted to kill Americans and blame Cuba to justify an invasion. Kennedy rejected that proposal. This, he had to go. How dare he think he can tell the Deep State what to do!

All three presidents posed a serious threat to the Deep State. Forget the hatred of Trump that they have drummed into the heads of so many. Open your eyes. This is biggest that Trump and your hatred blinds you to what is really going on.

Feb 13 2023

The Coming War


Armstrong Economics Blog/War Re-Posted Feb 13, 2023 by Martin Armstrong

COMMENT:

Hi Marty,

As it appears the US is marching toward war, what is notable this time, unlike what happened in the run-up to US participation in WW2, was the sense of isolationism in this country. Roosevelt was clearly walking a fine line, knowing there was no stomach for US involvement in Europe. US involvement in WW1 also started out similarly with many in the US, in particular those of Irish descent who opposed helping the British in their battle in Europe. Wilson, another Democrat, also walked the straight and narrow, professing neutrality which history shows was a lie. Later, his 14 points, the forerunner to an imposed peace on Germany, would backfire. The League of Nations would die off.

But today, unlike the prior two world wars, both democrats and republicans appear to embrace an escalation in conflict. And with an old, decrepit mannequin in the WH, it looks like there’s nothing stopping this push toward war. Republicans especially are a total disgrace. They stabbed Trump in the back repeatedly or let him twist in the wind for 4 years and for the first two when they were the majority party…did little to show their one chance to lead. Trump did more for peace than any president since Kennedy. Trump at least tried to engage Xie, met with the North Korean leader and focused more on building up the US domestic economy. He tore up US participation in these climate pacts. He focused on building the wall to stem the flow of illegals crossing the border. Her met with the Mexican president and forced his counterpart to accept an arrangement that kept illegals inside Mexico pending and petitions later to the US government for entry based on their applications.  And for all this, he was the target for a fraud based on collusion to get elected with Russian help. Which turned out to be baseless. Later, he was implicated in the Jan 6 insurrection…courtesy of both parties. Which itself was a total fabrication.

Both Dems and R’s are now marching lockstep toward war. It’s no wonder public opinion toward the government is sinking to all-time lows. In both parties. Both of which will be swept away in the years ahead for betraying this country on so many levels.

MS

REPLY: Hillary, started this whole mess by launching the fake dossier and blaming Putin for interring in the election. She managed to convince 70% of Democrats that Russia was the enemy. RussiaGate, despite being discredited, set in motion this hatred for Russia. Still, 65% of Americans support Ukraine when in fact what they are doing is relying on a border drawn by Kruschev for administrative purposes and demanding that the Donbas is their territory when NEVER for even a single day have Ukrainian people ever been the majority in that region. This is a land grab and nothing more that is engulfing the entire world all because our idiot politicians want to destroy the world economy so they can blame it on war and default on all the debt.

I get hate mail and death threats from Ukrainian Nazis pretty regularly now. This only shows that we are historically on the wrong side. In WWII, we fought against the Nazo movement. This time, we support ethnic cleansing.

Americans fled here to escape the political chaos and warmongering in Europe. So when WWI and WWII took place, the American people saw no reason to go support a political movement that they had fled. Indeed, FDR’ solemn campaign promise was no boys would be sent to fight in a foreign war. That is why he did everything possible to get Japan to attack Pearl Harbor for that was the ONLY way to overcome the anti-war position of Americans. They have done the same to get Russia to act to protect the Donbas from the Ukrainians who began the civil war.

FDR repeated that solemn promise in Boston which was predominantly Irish. They refused to defend Britain openly recalling what the English did to the Irish. That was why FDR needed Japan to attack Pearl Harbor. Today, they needed Russia to launch its special operation which was absolutely legal under the United Nations Rules for he was protecting the Donbas, not seeking to conquer Ukraine.

All of those memories of past wars are long gone. Today, we cheer on war because we think it will be like watching Iraq on CNN after nightly dinner. As they say: