The Supreme Court announced today the Trump administration may continue to enforce the “Remain in Mexico” policy requiring asylum-seekers to remain in Mexico pending a review of their claims.
A lower court deemed the program illegal and ordered a suspension that was scheduled to take effect Thursday. However the Supreme Court stay allows the Trump administration Migrant Protection Protocol (MPP) to remain in force:
(White House) – Today’s order from the Supreme Court is a major victory for the Trump Administration. By allowing the Migrant Protection Protocols (MPP) to remain in effect, the Court has prevented dangerous chaos at the southern border, avoided a significant escalation in public health threats, and mitigated damage to foreign relations.
MPP, which faithfully implements section 235(b)(2)(C) of the Immigration and Nationality Act, has been crucial to our success working with Mexico to control rampant illegal migration, smuggling, and cartel-driven human trafficking, all of which present wide-ranging risks to both our countries and to the migrants themselves. Open borders do not serve the American public, and we will always strongly enforce the laws at our borders and airports. (Link)
COMMENT: Hello Martin, I see President Trump is still calling for interest rate cuts from the Fed. I know he is a businessman and with the current situation is he making the right call with all his business knowledge? ( not sure the reason for the name-calling?)
Trump presses ‘pathetic’ Fed to cut rates more
CN
REPLY: Unfortunately, President Trump is still caught in the old school way of thinking in his belief that the Fed lowering rates will somehow magically stimulate the economy. The major thing that we have to respect about Trump is that he will listen and change his mind, unlike career politicians. The Fed cut rates and nothing happened, not because they did not cut enough, but because cutting rates does not work to begin with. The Fed cut rates dramatically during the Great Depression with no effect. If the Fed goes negative, the government debt will get trapped like that of Europe and the Fed cannot raise rates without blowing itself up.
I have been doing updates for the Repo Crisis. We are facing an unbelievable crisis ahead and Trump does not understand the international dynamics behind the curtain. While the Fed cut rates, it was forced to expand liquidity in the Repo market or else we are looking at Repo rates taking off like a rocket ship because the issue is not borrowing right now, it is all about credit risk.
QUESTION: Mr. Armstrong; You have warned that the European bank stocks were in real trouble. They have really collapsed. But you do not comment on them that often. Is there a reason for that?
DJ
ANSWER: Socrates is writing reports on over 1,000 instruments every day. It is impossible for me to comment regularly on everything. Plus, Socrates is supposed to be replacing me. That said, they are covered as the index and individually on Socrates. You can see for yourself that they have not been able to recover and here we have really crashed and burned. I think this simply confirms what I have been saying. Keep in mind that even I am human. I have said plenty of times, whenever my opinion differs from Socrates, it is usually wrong.
Good news. President Trump has endorsed Tommy Tuberville over Jeff Sessions for the Alabama senate race. This is a resounding message to Sessions showing just how badly his tenure at the DOJ is considered by President Trump:
Congratulations Tommy Tuberville. Additionally, a recent poll today showed Tuberville leading Jeff Sessions by 12 points (52/40) in Alabama. [LINK]
Earlier today President Trump and VP Mike Pence traveled to Capitol Hill to brief congress on the efforts of the Coronavirus task force and hold discussions on what legislative measures might be needed. [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: So we just had a great meeting. Tremendous unity in the Republican Party. And we’re working on a lot of different things. We’ve also had some very good updates on the virus. That’s working out very smoothly. Tremendous people. It’s a tremendous task force. They have done a great job — not a good job, a great job.
As you know, it’s about 600 cases, it’s about 26 deaths, within our country. And had we not acted quickly, that number would have been substantially more. But we — we just had a meeting on stimulus, and you’ll be hearing about it soon. But it was a great meeting.
There’s great unity within the Republican Party.
Q Mr. President, Republican senators yesterday, they seemed rather skeptical of this. They weren’t sure that they wanted to do it on a payroll tax holiday. How do you convince them? Is that the right approach?
THE PRESIDENT: Well, I was just with the Republican senators, and there was — they were just about all there, mostly all there — and there’s a great feeling about doing a lot of things. And that’s one of the things we talked about.
Q And what about the ideas proposed by Nancy Pelosi? It raised some —
THE PRESIDENT: Well, we’re going to see. They came in very chopped up. A lot of them are things that she wanted to get for other things, and we’re looking at the people. We’re looking at solving this problem.
Also, some very good numbers coming out of some countries where it started earlier. And we’re seeing some fairly good numbers come out of those countries — that’s a good thing — including China. And they’ve released numbers, and we’ve gotten some numbers from China that look pretty promising. So we’ll be able to further report.
Please.
Q But why not get tested yourself? I mean, you’ve interacted with Matt Gaetz and Doug Collins in the last few days.
THE PRESIDENT: Well, I don’t think it’s a big deal. I would do it. I don’t feel that — any reason. I feel extremely good. I feel very good. But I guess it’s not a big deal to get tested. And it’s something I would do.
But again, I spoke to the White House doctor — terrific guy, talented guy — he said he sees no reason to do it. There’s no symptoms, no anything.
And you know what? If there were, you people would be the first to know it. You would — you would maybe even tell me about it.
Yes, please.
Q Mr. President, have you been briefed that up to 100 million Americans would ultimately be exposed to the virus?
THE PRESIDENT: I’ve been briefed on every contingency you can possibly imagine. Many contingencies. A lot of —
Q But that number.
THE PRESIDENT: — a lot of positive. Different numbers. All different numbers. Very large numbers. And some small numbers too, by the way.
Look, right now, I guess we’re at 26 deaths, and if you look at the flu — the flu, for this year — we’re at 8 mil- — we’re looking at 8,000 deaths. And, you know, hundreds of thousands of cases, but we have 8,000 deaths. So you have 8,000 versus 26 deaths, at this time.
With all of that being said, we’re taking this unbelievably seriously, and I think we’re doing a really good job. And, again, the task force, headed up by the Vice President, has been fantastic.
Q Why has the U.S. been so slow with testing? Other countries have tested tens of thousands.
THE PRESIDENT: No, I think the U.S. has done a very good job on testing. We had to change things that were done, that were nobody’s fault. Perhaps they wanted to do something a different way, but it was a much slower process from a previous administration. And we did change them. We made the changes. But the testing has gone very well. And when people need a test, they can get a test. When the professionals need a test, when they need tests for people, they can get the test. It’s gone really well.
Look, the biggest thing that we did was stopping the inflow of people early on, and that was weeks ahead of schedule, weeks ahead of what other people would have done. In fact, other people, mostly, would probably not have done it even until now. And that’s made a big difference.
Q Are you planning to fire anyone —
THE PRESIDENT: For what?
Q — because of the spread of the virus in the United States. The numbers have changed —
THE PRESIDENT: No, I think the people are doing a fantastic job. In fact, just today — I have it inside — Governor Newsom, Gavin Newsom of California, said tremendous — there’s an article that just came out; I had it inside and I showed it to the senators, and I showed them other articles too — where governors — Democrat governors are saying we’ve done a fantastic job.
Gavin Newsom said there’s not a thing that he’s asked for that we weren’t able to get him. And, you know, he’s been — he’s a critical guy, like we all are. But it was a very positive statement.
Many Democrat governors have said that the task force and the federal government, what we’ve done, has been terrific.
Q Mr. President, how long should Americans be prepared for the economy to suffer?
THE PRESIDENT: Well, this was unexpected. This was something that came out of China, and it hit us and many other countries. You look at the numbers; I see the numbers with just by watching you folks. I see it — it’s over 100 different countries. And it hit the world.
And we’re prepared, and we’re doing a great job with it. And it will go away. Just stay calm. It will go away.
We want to protect our shipping industry, our cruise industry, cruise ships. We want to protect our airline industry — very important. But everybody has to be vigilant and has to be careful.
But be calm. It’s really working out. And a lot of good things are going to happen. The consumer is ready, and the consumer is so powerful in our country with what we’ve done with tax cuts and regulation cuts and all of those things. The consumer has never been in a better position than they are right now.
So a lot of good things are going to happen. Thank you very much, everybody.
QUESTION: Hi Martin, I have been reading your blog with interest for six years now and recently I subscribed to Socrates. Thanks for all the insights.
I have a question regarding the repo crisis and interest rates. Socrates correctly predicted the start of the repo crisis back in September. When will the Fed give up or scale back intervening in the repo market? When do you/Socrates expect rates to rise as you have been predicting?
Thanks. W
ANSWER: The Fed is trapped. It cannot exit the repo market or else short-term rates will rise sharply. By lowering rates when the credit risks are rising, we create a real nightmare for the Fed. Credit risks are rising as many fear that some will be unable to make debt payments and states/provinces will suffer sharp declines in tax revenues. All of this points to rising interest rates — not lower rates. We have a real paradox forming here which is a completely new nightmare scenario all because of the ECB and BOJ are trapped into negative interest rates which have undermined the entire Keynesian Model.
The Fed cut rates but the market6 still crashed. This is reflecting the underlying collapse of Keynesian Economics.
QUESTION: Why is the US Dollar tanking during this Coronavirus outbreak? Would have thought it was a safe haven. And why is the Japanese Yen increasing? Why is Japan considered a safe haven?
M
ANSWER: This has nothing to do with the Coronavirus. The capital flight began with the concern that Bernie was leading the pack and it appeared that he would be the candidate against Trump. That was the #1 concern of capital and this is why the Dow was the first to peak out reflecting the international political concerns and why we warned of a sharp rally in the Euro. The Coronavirus has been whipped up into a real panic to the point it has seriously impacted the global economy. Even we were forced to cancel our Shanghai WEC and we were holding a special training session in Berlin for Pro Subscribers which also had to be canceled. The jury is still out on the Frankfurt WEC.
This really seems to be something created by the press like the Spanish American War because of the fake news by Pulitzer and Hearst. They simply wanted to sell newspapers when the sinking of the US ship Maine was never an act of war by the Spanish but an accident. This is why Pulitzer tried to reshape his image after death taking his blood money and creating the Pulitzer Prize. It is ironic that the most prestigious prize in journalism is named by the father of Yellow Journalism.
We really do not have hard evidence to confirm that we are looking at such a major crisis or pandemic concerning the Coronavirus. This may simply subside in April with the normal flu season. We have to cross that bridge when we come to it. But the speculation is unbelievable and the press has scared the hell out of everyone that they are creating a global recession and forcing political change. I get a lot of emails that say I am wrong and 50% of the population will die. I hope I am one of them because I am sick and tired of losing more and more rights with each passing claimed crisis.
In Japan, the Prime Minister is seeking new power to declare the Coronavirus an emergency to give him more dictatorial power. In the US, Trump has asked Congress for emergency spending and seeking a payroll tax cut to help workers. In Italy, the entire country has been put on lockdown. We are looking at really pushing the envelope for governments under the banner of free societies.
Meanwhile, we have others claiming paper money should be terminated because it can spread the Coronavirus. This is becoming reminiscent of the 911 crisis which they used to justify Homeland Security and we all now have TSA inspecting what we have and confiscating cash if you have over $10,000 even on domestic flights. The conspiracy theories can be made up almost on an endless cycle in and of themselves.
Now the market is crashing based on the impact of the Coronavirus insofar as its economic impact. We do expect that the 1st quarter numbers will reflect a recession in may areas. Capital is being pulled back because there is a major liquidity crisis unfolding which has forced the Fed to now expand the availability of money to support the overnight Repo market.
We have a perfect storm of events unfolding which is the prelude to the entire Monetary Crisis and the Mother of All Financial Crises coming directly at us. This is going to be a major financial upheaval that will separate the men from the boys. Those who trade emotionally will not survive. We are looking at major confusion and swings that will get the best of most people.
We ourselves are looking into doing a webinar as an alternative to training sessions we have been doing for pro clients in various places around the world.
While the Democrats love to yell at the rich for always getting richer, in 2016, there were 541 US billionaires with wealth totaling about $2.4 trillion. In 2019, there were 607 US billionaires with wealth totaling about $3.1 trillion. Of course, this is based on stock market valuations and is not cash in the bank. There is no doubt that the wealthiest Americans have gotten wealthier under Trump, though others have also gained.
According to the Federal Reserve, the combined wealth of the top 1% of American households, which includes all members of Congress, increased 18% from the fourth quarter of 2016 to the third quarter of 2019 — from $29.18 to $34.53 trillion. However, the combined wealth of the bottom 50% of households actually increased 55% from $1.08 trillion to $1.67 trillion. In truth, there were far more people who have benefited from the Trump Tax Cuts than what the Democrats ever will admit.
South America has been intertwined with socialism and corruption. Political stability and economic recovery for South America have been a wish that has seemed to be always very elusive. But the hopes and dreams have never been fulfilled. In many countries, politicians with sole claim to power are pushing to power, heavily indebted countries are facing bankruptcy, the rich are getting richer, the poor are poorer, demonstrators and police are fighting bloody street battles. An entire continent is in turmoil — South America is on fire! There appears to be a political-economic crisis that is coming to a boil.
Today, South America appears to be unraveling economically and politically. It was only a decade ago when its future seemed bright and all we heard was about investing in emerging markets. Its economy was growing whereas poverty and income inequality were in decline. Yet, the economic boom came on the back of commodities. The abundance brought by high commodity prices even allowed counter-cyclical policies at the time of the US subprime crisis. As always, foolish investors pour in money without regard to historical problems with repaying debt.
As the economies implode and political chaos rises, commodity production will decline over the next two years and this may set things up for the commodity boom into 2024 based on a SHORTAGE OF SUPPLY rather than outright demand.
QUESTION: Mr. Armstrong I Hope your health is holding up with all the viruses. My first question is Feb 13 the Fed printing money increased by 13 billion however it is buying short term debt as in 1-day debt how long can they keep this up it is a fake stimulative of the stock market right?
The second question Do you still see something happening to Trump in 2021 ?
Thank you
S
ANSWER: The year 2022 looks to be more of an issue for the president. I do hope Trump is there for 2021, because I fear a career politician will not understand the Repo and Monetary Crisis. They will do whatever the Deep State instructs them to do. The Repo Crisis is in no way similar to people’s understanding of the crisis. I am not concerned about the amount of money. They are going to be forced to be the market-maker in Repo permanently.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
This is a library of News Events not reported by the Main Stream Media documenting & connecting the dots on How the Obama Marxist Liberal agenda is destroying America
Centinel2012 