This is the result of the Pres. Johnson laws that banned the Christian Churches for talking about politics or they would loss their tax exemption. Once they had that they started to remove all Christian items from public view and that is what left the void.
Tag Archives: Free Market
Governments Around the World Seem to Be Preparing for War
Based on history we are do for a major war (WW II style) anytime now certainly no later that 2020
DHS Prepares For Nuke Attack With Massive Order For Radiation Detectors: ‘To Ensure Nuclear Devices Aren’t Secretly Being Transported In Public Areas’
Where there is smoke there is fire!
Obama Stealing Internet From Americans, Giving It To George Soros
Soros is the Puppet Master after all and he and his court of like mined globalist will own everything we Trump does win!
It’s Time to Turn Out the Lights in Illinois
Armstrong Economics Blog
Re-Posted Aug 31, 2016 by Martin Armstrong
The roads in Illinois are in decay. This may be the first state to go bankrupt. The question is not if, but when. State unions are so greedy that they are destroying the very state. This is exactly how Rome fell — government employees against the people.
Seven states have constitutional provisions that state employee pensions must come BEFORE everything, including debt payments. Since the legislature in New Jersey was Democrat, they fought Governor Christie on pension reform. Their solution? On the ballot in November, there will be a provision to amend the state Constitution to put employee pensions before everything else. The people are generally kept ignorant of what that means to property taxes and the future of the state. Therefore, the average person will say, “Sure, I should get my pension, so they should also.”
Illinois should declare bankruptcy. It is simply inevitable. There is absolutely no hope for Illinois whatsoever. Every year they will have to pay more and more. If the state who manages the pension money loses, well, the taxpayers have to cover those losses as well. The governor tried to stop the downgrade of expectations for earnings in the pension fund from 7.5% to 7%, which means they have to raise taxes and/or cut service by almost a half-billion.
It’s time to just turnout the lights in Illinois. Welcome to the Sovereign Debt Crisis. This is the contagion you will finally start to hear about, but only after the elections. Why spoil the party?
Heads They Win, Tails You Lose
Armstrong Economics Blog
Re-Posted Aug 31, 2016 by Martin Armstrong
QUESTION: Sir,
You mentioned in your blog post that money market funds now have to be in government bonds as per SEC ruling. You have said we are going through a sovereign debt crisis which means government bonds are at risk. If I’m trading and my money is now parked as “cash” before I make another trade in a money market fund, does this mean outside of a trade, my money is now at risk when government bonds crash?
Thanks for all you are doing
DK
ANSWER: Yes. There are two types of funds. One is marked-to-market, so there will be no guarantee you get back 100%. The other will be fully invested in government bonds. There, you will be told you lost nothing, but in reality, you may not be able to sell. When the crisis comes, the only buyer will be the central banks and if they stop buying, look out below.
Personally, if I were in the business I would create a corporate bond fund only that prohibits all government paper. That may not be “politically correct” but neither are politicians.
EU Govt. Pensions Explode to €63.8 billion
Armstrong Economics Blog
Re-Posted Aug 31, 2016 by Martin Armstrong
I have said that the European crisis is all about keeping jobs in Brussels, and now the truth is beginning to surface. The long-term cost of pensions for EU officials has increased very sharply according to one new report. These people are lining their pockets like never before. From late 2014 to the end of 2015, the liabilities have grown by 8.9% and have reached €63.8 billion euros.
Some of these parliamentary members go and swipe a card to pretend they went to work, for you see, in addition to their annual salary, they get paid €304 euros per day just to show up in addition to a monthly salary of €8.020,53 even if they do never show up to work. There are stories of ministers lining up to swipe their cards to claim the €304 euros for the day and then they leave. Why not? They can neither introduce legislation nor veto it. The whole thing is a sham to make the people think they have a right to vote when there is none.
Hoardng Cash – Prelude to the Crash & Burn
Armstrong Economics Blog
Re-Posted Aug 30, 2016 by Martin Armstrong
We are monitoring confidence in the banking system as reflected by cash withdrawals. The sale of home safes has exploded in many countries. I previously reported that one in ten currency notes in Switzerland being printed is now the 1000 franc note. In fact, there is some 41.6 billion in Swiss francs now in circulation in 1000 CHF notes exclusively. The ECB is truly brain-dead for they thought by moving with negative interest rates, people would spend their money and that would rekindle inflation. They are correct that people would not want to pay negative interest rates. However, they totally never guessed that they would withdraw their money and hoard it rather than spend it. The trend toward hoarding cash really became in 2011. It started to make the news in 2012. Now the German savers are buying home safes as well and pulling out cash. Of course, they attribute this primarily to negative rates. However, the concerns that Deutsche Bank may be in serious trouble is also helping matters.
We are witnessing this trend around the world throughout Asia as well. Japan has been printing 10,000 yen notes like crazy. The Japanese are also withdrawing cash and keeping it at home. Even Americans began hoarding cash also back in 2011, which began to make news by 2014. In fact, 43% of Americans keep their savings in cash these days for interest pays nothing. Yet, an amazing 53% of those cash-hoarders “plan to hide bills in a secret location at home.”
Everything is going as our model has projected. The peak in trusting banks and government is in place. From here on out, all we have is the collapse in public confidence and the 2016 elections bring that home.
All we are waiting for now is simply the Crash & Burn. This will be a serious topic for this year’s WEC in Orlando.
Goldman Sachs is at it Again
Armstrong Economics Blog
Re-Posted Aug 30, 2016 by Martin Armstrong
More than 75,000 people have put their names to a petition protesting against the appointment of a former European Union leader José Manuel Barroso to the investment bank Goldman Sachs. The outrage demonstrate what I have warned about, that the peak in public confidence in government and banks is now in place. Goldman Sachs has gone too far. This move is being called “irresponsible” and “morally reprehensible.” This is all about buying influence. NO former politician is worth their weight in peanuts no less money. Before he joined the commission, Barroso also served as Portugal’s Prime Minister from 2002-2004.
This all began in 1981 when PHIBRO, the company that made the money from the commodity rally into 1980 took over Wall Street buying the biggest bond house Salomon Brothers. By 1991, the first scandal eripted as they commodity boys took over Wall Street bringing their manipulations to the world of finance. Goldman Sachs took over a few months later J.Aaron, a commodity house from which Lyod Blankfein began. It was 31.4 years from that first step to the demise that required the biggest bailout in history to save their ass. Goldman Sachs realized when Salomon Brothers was being shut down for manipulating the Treasury bond market, that they too could be on the ropes.
Goldman Sachs bought the Clintons and stuffed in Robert Rubin as the 70th Treasury Secretary from January 11, 1995 – July 2, 1999, just long enough to get Glass Steagall repealed and left, able to sell all his stock tax free. Next cam Hank Paulson who became the 74th US Secretary of Treasury under George Bush July 10, 2006 – January 20, 2009. Paulson made sure that Bear Stearns and Lehman Brothers collapsed reducing competition for Goldman Sachs claiming he lacked the authority, but the next day he bails out an insurance company AIG because they would default on Goldman Sachs when the office writing the insurance was in London, not even the United States.
Goldman Sachs has hired top politicians for influence. They offer nothing from an economic perspective. So this latest hire of Barroso is right in line. What is fascinating is the tide has turned. Goldman Sachs has become the real evil empire so while people keep talking about Rothschilds and Morgan, these may be deliberate diversions to distract people from the real mover and shaker – Goldman Sachs.
Centinel2012 