Lies, Lies & More Lies from the Financial Press


Armstrong Economics Blog/Press Re-Posted Oct 15, 2021 by Martin Armstrong

COMMENT: Marty; the Fed quietly published the banks it was funding in the Repo Crisis. I just wanted to say, you are always right. The press claimed it was tax time, but you said it was the crisis in European banks. Your sources are always spot on. Thanks for the light of truth.

PG

REPLY: Yes, that story that the liquidity crisis occurred because US corporations withdrew large amounts from the banks in order to make quarterly tax payments was the most absurd propaganda I ever heard. Why then do we not see the same liquidity crisis event during tax season?

The bulk of the loans covered foreign banks, as well as Goldman Sachs and JPMorgan Securities. It was all driven by the simple fact that Merkel said there would be no bailout for Deutsche Bank, which was the major derivatives counterparty problem involving Wall Street. Deutsche Bank had a major derivatives book, and if it failed, it would have taken down US banks. Deutsche Bank was in crisis and then it was too big to merge with Commerzbank. They had to lay off nearly 20,000 staff and a major effort was undertake to try to isolate its toxic assets.

That is why the Fed had to step in as the market maker to bail out Europe for US banks all backed off. I really do not know who makes up these stories to try to hide the truth. But they always do in hopes of preventing panics. This time, the game is up.

Inflation is Hitting Every Sector – Not Transitory


Armstrong Economics Blog/Hyperinflation Re-Posted Oct 13, 2021 by Martin Armstrong

COMMENT: All these increased demands for my product is great, but it comes with quite a wholesale flower prices have also increased significantly making the cost of the arrangements much higher. Wholesale rose prices have jumped 56%. Last year I could buy a pack of 25 roses for $18, where today they cost $28. I have to pass these costs onto my customers, but even with the increased cost people are still buying more flowers this year than the same time last year.

SH

REPLY: Thank you for this info. It is hard to find any industry that is not suffering from a shortage of supply.

September Jobs Report Badly Misses Expectations With 194,000 Jobs Created vs 500,000 Expected


Posted originally on the conservative tree house on October 8, 2021 | Sundance | 235 Comments

The Bureau of Labor Statistics (BLS) has released the September jobs report [DATA HERE] showing a dismal 194,000 jobs added against a financial media and Wall Street expectation of 500,000 jobs.  [CNBC Apoplectic]   The labor participation rate in the worker economy overall has not moved since Biden’s inauguration, and stands at 61.6%.

Digging into the numbers, what is happening is exactly what we ¹should expect.  Outside the immediacy of private sector durable goods retailers seeing a pull back in consumer purchasing due to inflation (which we continue to point out is the critical issue); the local economies impacted by a declining tax base are key early indicators of contracting economic activity.  Wage gains are not keeping up with inflation.

Inside the data, you will note [Table B-1] a significant decline in Local Government Education of -144,000 jobs.  Obviously the collapse of in-school teaching leads to less jobs in this sector overall. However, the drop happened at the exact same time students were returning to a new school year, and this drop is also reflected year-over-year.  Schools were impacted by COVID in Sept 2020 more than schools are impacted by COVID in Sept 2021, yet this year the jobs are completely gone.  Something bigger is happening in this sector.

Additionally, healthcare services show a major drop in employment (-37k) specifically as it relates to elderly care and nursing homes.   All the sub-sectors of elder care are significantly lower in employment.

Retail was essentially flat (+56k) considering the scale of the sector; and durable goods within the retail sector show declines in employment.  Again this would indicate less consumer spending on durable goods, as food and energy inflation are prioritizing spending habits.  Leisure and Hospitality (+74k) with hotels and restaurants doing the majority of the hiring as the rebound in this sector continues.

[¹Here it is important to note a slow cascade effect that will take time and we are not near the peak of the trouble yet. As a historic reminder, the epicenter of the peak financial crisis (housing) was triggered in Nov/December 2005.  However, the trouble was not visible on a national scale until 2007.    Economic data shows the current triggering event took place in May/June of this year.  Make of that what you will]

(CNBC) […] The U.S. economy created jobs at a much slower-than-expected pace in September, a pessimistic sign about the state of the economy though the total was held back substantially by a sharp drop in government employment.

Nonfarm payrolls rose by just 194,000 in the month, compared with the Dow Jones estimate of 500,000, the Labor Department reported Friday. The unemployment rate fell to 4.8%, better than the expectation for 5.1% and the lowest since February 2020.

[…] “This is quite a deflating report,” said Nick Bunker, economic research director at job placement site Indeed. “This year has been one of false dawns for the labor market. Demand for workers is strong and millions of people want to return to work, but employment growth has yet to find its footing.” (read more)

[INFLATION] is terrible for wage earners in the U.S. who are now seeing no wage growth and higher prices. Real wages are decreasing by the fastest rate in decades. We are now in a downward spiral where your paycheck buys less. As a result, consumer middle-class spending contracts. Eventually, this means housing prices drop because people cannot afford higher mortgage payments.

Gasoline costs more (+50%), food costs more (+10% at a minimum) and as a result, real wages drop; disposable income is lost. Ultimately this is the cause of Stagflation. A stagnant economy and inflation. None of this is caused by COVID-19. All of this is caused by economic policy and monetary policy sold under the guise of COVID-19.

Queensland Australia Police Have Two Weeks to Get Vaccinated or Get Out


Posted originally on the conservative tree house on September 22, 2021 | Sundance | 274 Comments

Chickens coming home to roost?  The state of Queensland, Australia, (QLD) is located in the northeastern portion of the nation above the state of New South Wales. The biggest metropolitan areas are Brisbane to the south and Cairns to the north.  Like many states, and in alignment with the national plan, Queensland is mandating a vaccination upon citizens if they want to escape the rules and regulations of lockdowns and COVID compliance dictates.

Despite some initial signs of moderation, recently Queensland Premier Annastacia Palaszczuk has fallen into line with the national government plan and has announced she is fully prepared to be just as big a totalitarian dictator as her neighboring Premiers to the west and south.  As a consequence, Premier Palaszczuk has decreed that all Queensland police units must be vaccinated within two weeks or they will lose their jobs.  WATCH:

The citizens of Queensland will take the mRNA immunity modification serum, aka “the jab”, or they will be discarded from society.   There is a relatively small faction of reasonable police who might have a problem with that.  However, if you look at the upcoming new classes of junior officers (pictured below), you’ll get an idea of where their mindset is.

Melbourne Australia Police and Riot Squads Fire Upon Peaceful Protestors While Media Frame COVID Anti-Lockdown Protests as Domestic Extremists


Posted originally on the conservative tree house on September 22, 2021 | Sundance | 565 Comments

On day three of the Melbourne labor union protests against the brutal COVID lock-downs and forced mRNA genetic experiments, the Victorian government decided to open fire upon the peaceful protestors. The police triggered a ‘no-fly zone’ in the Melbourne metropolitan area to stop media from using their helicopters to record the protests and violent police activity.

While the official motive given by police for the media ban was to block protestors from knowing where the thousands of police were amassing; the background issue of the government wanting to keep the Australian people from seeing police open fire upon their own citizens is transparently obvious.  Americans would be wise to pay attention to all facets of how the Australian government is moving violently against their own citizens.  [PIC: Partial Protest Crowd at Melbourne Shrine of Remembrance]

As we have seen in the U.S, there is an alarming alignment between the operatives of the Australian government and the media stenographers who willingly push a “violent extremist” narrative in order to downplay the brutal police tactics being deployed against ordinary working class Victorians.   As you watch the first video below, it is well worth remembering these are the same Melbourne police units who took a knee during last years Black Lives Matter protests in Melbourne.

Thousands of heavily outfitted and well-armed jackboots -with armor plated MRAP vehicles in support- confronted the protest groups throughout the Melbourne metro area.  The police deployments forced the groups to assemble at Melbourne’s Shrine of Remembrance where a stand-off took place between the protestors and thousands of police units surrounding them.  Once they had the protestors surrounded, the police began tightening the perimeter, until they eventually opened fire with tear gas and rubber bullets.

.

The riot units were essentially shooting trapped fish in a barrel, while secondary units moved in from the perimeter to arrest those targeted.  It is ironic this video was filmed at Victoria’s national memorial honoring the service and sacrifice of Australians in war and peacekeeping.   VIDEO:

.

As you can see from the video on the scene, the protesting group was non violent.  The police jackboot tactics however, were extremely confrontational…. and all of this is under the premise of “protecting public health and safety.”  Think about it….

The media in Australia are fully under the control of the government and express no sympathy for the average man, woman, child or family who have yet to have their voice heard.  Those in the state of Victoria have been in a forced lock-down for almost a year, and they are told the only way they will be permitted out of lock-down is if they take an experimental mRNA gene modification treatment called a “vaccine.”

Victorian Premier Daniel Andrews has announced that anyone who does not “take the jab” will not be permitted to work, shop, attend any venue or participate in the Melbourne economy.  Vaccination passports and identification will be required for all functions of life.   What used to be freedom and liberty in the human condition is now contingent upon accepting a government forced vaccine.

The entire nation of Australia is creating a two-tiered society and dividing people between vaxxed and unvaxxed.  In essence, they are intentionally creating a fully controlled underclass or apartheid state.  The media in Australia are not even presenting an alternative viewpoint or pausing long enough to ask any substantive questions.  Within this dynamic, the average citizen is forcibly locked onto a conveyor belt they cannot escape, and at the end of the belt is a needle they must accept, or else they will be discarded.

It is incredible that no-one within the “system”, can pause long enough to give voice to the genuine concerns of the people.  It is the absence of having a voice, and the absence of having any due consideration for their concerns, that has created this horrific dynamic.   Making matters worse, the media in totality is pushing the only approved government position.

There is absolutely no voice in Australia for a large segment of common society that just want to have their inherent human rights respected.  Unfortunately, their constitution does not recognize any rights that are not provided by government.  As a consequence, millions of people are increasingly desperate.  THAT is what we are seeing play out in the city of Melbourne.

Almost all mainstream media in Australia describe the protesting groups as neo-Nazis, right-wing extremists and domestic terrorists.  This ABC news segment below reflects the least amount of propaganda amid hundreds that I have watched describing the events of the past 24 hours.   As Americans watch this news report, you might see some stark similarities to how the January 6th protest in Washington DC was framed by U.S. media.  WATCH:

“THESE are the times that try men’s souls. The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands it now, deserves the love and thanks of man and woman.  Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph.  What we obtain too cheap, we esteem too lightly: it is dearness only that gives every thing its value. Heaven knows how to put a proper price upon its goods; and it would be strange indeed if so celestial an article as FREEDOM should not be highly rated.”  – Thomas Paine

.

.

“[I]t is the greatest absurdity to suppose it in the power of one, or of any number of men, at the entering into society to renounce their essential natural rights, or the means of preserving those rights, when the grand end of civil government, from the very nature of its institution, is for the support, protection, and defence of those very rights; the principal of which, as is before observed, are life, liberty, and property. If men, through fear, fraud, or mistake, should in terms renounce or give up an essential natural right, the eternal law of reason and the grand end of society would absolutely vacate such renunciation. The right of freedom being the gift of God Almighty, it is not in the power of man to alienate this gift and voluntarily become a slave.”  ~ Sam Adams

Austria Denies Social Programs to Non-Vaccinated


Armstrong Economics Blog/European Union Re-Posted Sep 22, 2021 by Martin ArmstrongSpread the love

Dr. Alexander Van der Bellen, who was inaugurated as the Federal President of the Republic of Austria on January 26, 2017, has taken another undemocratic, authoritarian position that anyone unemployed because of the state’s lockdowns who refuses the vaccine will lose ALL benefits. This is absolute tyranny and a disgrace to any country that pretends to be free. It has been reported:

“Unusual measure: Austria’s Minister of Labor Martin Kocher (ÖVP) has decided to block unemployment benefits for job seekers if they do not apply for a reasonable position because a vaccination is required there or simply not accepting an offered position.”

Something is seriously wrong. The vaccination was supposed to protect you, but now the unvaccinated threaten the vaccinated. Does that then prove that the vaccinations do not work? If the death rate is less than 1%, then why are governments forcing such vaccines?

The object seems to be to justify tracking all people. If we cannot do anything without a COVID passport, then we are right back to the same type of control as Adolf Hitler. You cannot get on a train in France without a COVID passport. Canada is doing the same thing for travel. Australia is turning the country into a concentration camp where you cannot travel more than 5k from your residence even if vaccinated.

Meanwhile, with this experimental vaccine, we have no idea of the long-term effects. We are supposed to trust the likes of Bill Gates, who is a college dropout with no medical background whatsoever. Our politicians are not trying to kill off people, but they are trying to alter society from the land of freedom to a fully tracked concentration camp where they must know everything we are doing. This is all because they intend to eliminate democracy and adopt the 2030 Agenda of Klaus Schwab, who I can tell you is a notorious control freak.

Europe is gradually transforming into a concentration camp. Some think it will soon return to normal if they comply, but NO VACCINE will ever eliminate any coronavirus, the same with the flu or the common cold. It is IMPOSSIBLE, for it also resides in animals. So this has been one giant lie, and they feed it out to us one tiny step at a time. Then they are complete, and it is too late to resist.

While our politicians are simply looking for control, Gates has an entirely different agenda, pretending to care about society, and at the same time, holding secret meetings about reducing the population of the world. And this is the guy our politicians embrace? I think they are too busying counting their money and dreaming of absolute power. Creating COVID Passports will be the same as the income tax in 1913 which was 1% only on the rich. It is now criminal not to file an income tax and if you put cash in a safe deposit box, read the fine print – that is now money laundering defined as hiding money from the government. COVID Passports will be permanent – they will not vanish because there will NEVER be a return to NORMAL. Anyone who believes the government is simply a sublime fool.

There is no God on Capitol Hill


Armstrong Economics Blog/Politics Re-Posted Sep 22, 2021 by Martin Armstrong

The Democrats simply hate the way society and the economy function. Like Karl Marx, they think they can play God because they cannot believe that there is even a God. Marx saw the world in anger. Anyone who has read his work can feel the hatred between the words. Under this Marxist agenda, what they call “equality” is that we are all to be stripped of individual rights because their measurement is only material wealth. They cannot grasp that a centralized government is incapable of anticipating anything, no less managing the economy.

Back in the ’90s, I was trying to help society by donating my time on Capitol Hill. I testified even before the House Ways & Means Committee on global taxation. I was asked to lay out a plan to convert Social Security to a wealth fund. At the time, the Dow was just under 4,000. The proposal was to allow Social Security to invest rather than be a slush fund for government debt. I worked on the criteria of how to select the fund managers. The Democrats vowed to defeat it because they wanted to change the fund managers when they regained power. I argued this had nothing to do with who a fund manager voted for. It was to be based SOLELY on their track record.

Martin Armstrong Steve Forbes Jim Florio

debated at Princeton University Steve Forbes, who was for the flat tax, and Democratic Governor Jim Florio, who never saw anything that shouldn’t be taxed. I blew Florio out of the water, leaving him speechless. I pointed out that the Democrats were borrowing from the poor and refused even to pay them interest, pretending to hand back refund checks to be magnanimous. It was like I rob you of $100 and then pretend to be such a great guy because I am giving you a $100. To Florio’s credit, after the debate, he called me wanted to listen more.

We even published a Tax Proposal back then and found myself moving back and forth between Dick Army, head of the Republicans, and Bill Archer, Republican Chairman of the Ways & Means Committee. Both were from Texas, but Dick was for the flat tax, and Bill was for the retail sales tax. I could not even get the two to sit down for dinner because they did not want to be seen in a public meeting that would start rumors of a compromise.

I was sitting in Dick Army’s office. He had his feet on the desk with his cowboy Texan boots, smoking his cigar. He said to me that he could not support such a tax reform because they would have to amend the Constitution. He said I knew cycles and when the Democrats got back in, we would then have a retail sales tax and an income tax. It was that meeting when I said to myself, not only was Dick correct, but I was wasting my time. I saw at that moment that the model would be correct and it would have to play out.

The Democrats actually have nothing to offer society whatsoever. Their entire agenda is always Marxism. It is always the same pitch — class warfare. They always demonize the rich who they define NOT as Bill Gates, but the small businesses earning $250,000 or more. Those businesses are the very core of the labor force and provide 70% of all employment. They do not offer skills in management or even a vision of expanding the economy. It is always about hatred, “Vote for me and I will rob those other disgusting people who cause all the problems.”

Now the latest move is to tax all UNREALIZED gains a person has upon death. That will wipe out small businesses, for they cannot continue if the heir suddenly has to pay normal income tax of the claimed “value” of the company. It leaves one with the feeling that you should just burn down what you have, and throw it all on the funeral pyre just to prevent these thieves from getting their hands on it to destroy the future. All the major companies begin small, but they develop and expand. New inventions like the automobile and devising assembly lines did make Henry Ford rich, but those innovations also made cars affordable for the average person. Once that took place, the country expanded. People could start to commute and the land values began to rise outside the urban centers.

What is wrong with politics is that this should be about building society and the vision of the future. FREEDOM is not one side that demands others live the way they tell them. LIBERTY is fundamental — I leave you alone and you leave me alone. The words Thomas Jefferson wrote in the Declaration of Independence have been lost in politics. Politics has divided the country, turned one group against the other, and in the end, this will ONLY be resolved once more by bloodshed. As always, it will divide families and friends, but everyone will choose a side and be compelled to kill the other to restore the basic fundamental right to be left alone.

My family has fought in every war for America since the Revolution. They did not fight for this. What the nation has devolved into has disrespected every soldier and what they were told they were laying down their lives to preserve. There is no God that is respected, no less believed in, on Capitol Hill.

When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

We have collapsed now into class warfare abandoning everything so many have died to defend. This is the ultimate treason of generations. Can we possibly resolve this peacefully? Or will this once more require spilled blood?

Censorship


Armstrong Ecomoics Blog/Censorship Re-Posted Sep 21, 2021 by Martin Armstrong

It has become obvious that Google is now interfering in what I publish. I tried publishing what I entitled

    C l i m a t e    C h a n g e    &    C O V I D  = O n e    W o r l d    P o w e r    a t    t h e    U N

What is clear is they have an algorithm that looks at phrases and when I tried two times to publish this piece a second time, once more it strangely changes the link to pull up something else from 2015.  We are investigating what is going on. Clearly, since this site is primarily read by the leading institutions around the world, they are far more concerned about what appears here compared to normal blogs for they still take the position that I have too much influence.

As always, they prefer to blame me rather than simply admit that the trend forecast by the computer has been unbeatable and is NOT my opinion. They will not win but trying to interfere or figure out a way that I can commit suicide by shooting myself in the back of the head. I’m sure Fauci would swear it was suicide even if I was shot from 100 yards away.

Trouble in Vegas – Clark County Commission Declares COVID Misinformation A Public Health Emergency


Posted originally on the conservative tree house on September 22, 2021 | Sundance | 62 Comments

In reality, “misinformation” and “disinformation” doesn’t exist – there is just information you accept, and information you do not accept.  You were not born with the requirement to believe everything you are told. Rather, you were born with a brain that allows you to process the information you receive.

That said, the Clark County commission in Nevada voted today to establish “COVID misinformation” as a public health emergency, clearing the way for the largest (and most notoriously corrupt) county in Nevada to create ordinances blocking any form of speech they consider adverse to their approved narrative.

NEVADA – […] The resolution doesn’t define what misinformation means but would dedicate the commission to fighting and limiting the spread of misinformation.

The resolution passed and it was drafted by commissioners who said the pandemic has had a great impact on the health, safety, and economy of southern Nevada as 397,788 people have been infected and 6,604 people have died due to the virus as of Sept. 1.

The resolution doesn’t have the same effect as an ordinance, as it’s not legally binding, but it could clear the way for commissioners to take more concrete actions in later meetings. (read more)Posted in CDCCoronavirusDem HypocrisyProfessional Idiotspropaganda

New Zealand Police Arrest Three Citizens Attempting to Cross Into Auckland Level 4 Lockdown Zone With Kentucky Fried Chicken


Posted originally on the conservative tree house on September 21, 2021 | Sundance | 153 Comments

The New Zealand Ministry of COVID compliance has been attempting to stop COVID-19 for almost two years.  On August 17th, the extreme far-left New Zealand Prime Minister, Jacinda Ardern, announced a “level four” emergency shutdown.  Auckland New Zealand was placed in a level-4 lockdown, meaning all restaurants are shut down even for takeout, and people within the L4 zone are to remain in strict isolation bubbles and quarantine confinement.

Enforcement of the quarantine bubbles are carried out by police and military units.  Police checkpoints keep citizens from traveling into or out of the quarantine perimeter of Auckland.

After an extensive sting operation and police chase, law enforcement announced today they successfully arrested three men who were attempting to gain re-entry into Auckland with a significant amount of contraband Kentucky Fried Chicken, ten tubs of coleslaw, and a large amount of illegal french fries.  A breach of the Covid-19 Public Health Response Act can result in imprisonment for up to six months; or a fine of up to $4,000.

(Guardian) – […]  In such an environment, fast food can take on the aura of a high-value illicit substance. Last week, a man was charged by police after posting a social media video of crossing the Auckland boundary in search of McDonald’s.

[…] “The vehicle was searched and police located the large amount of takeaways.”  Close examination of the police evidence photos revealed at least three buckets of chicken, up to 10 tubs of coleslaw, and an undisclosed quantity of fries. (read more)

They will never take our CHICKEN !!

As a result of the ‘level-four’ restrictions, the people in New Zealand were instructed to stay at home, “Do not talk to your neighbors”, wear a mask, maintain 2 meters social distance, and stay away from others if you leave your home for the three approved reasons: Emergency food shopping, healthcare or testing.

There is something really dystopian about government officials telling citizens to remain compliant, use QR codes, activate their bluetooth tracing and stop talking to their neighbors. There is something exponentially more alarming about citizens actually complying with these instructions. WATCH this next video: [Video at 15:08 Prompted]