Posted originally on Nov 21, 2024 by Martin Armstrong
Donald Trump believes tariffs could offset taxes, but tariffs will be a tax in itself to the American consumer. Trump is proposing to raise taxes from 60% to 100% on Chinese goods. He would also like to implement a universal tariff from 10% to 20% on all international imports. Ultimately, the consumer will end up paying the bill to offset these increase.
“If we get tariffs, we will pass those tariff costs back to the consumer,” AutoZone CEO Philip Daniele said, adding that the company will protect itself by raising prices before the tariffs take effect. Countless companies have come out to say that they will absolutely pass on the added cost to their consumers. It is not as simple as moving manufacturing out of China or to America.
Lowe’s expressed similar concerns. “Roughly 40% of our cost of goods sold are sourced outside of the US, and that includes both direct imports and national brands through our vendor partners,” said CFO Brandon Sink. “And as we look at potential impact, certainly would add product costs, but timing and details remain uncertain at this point.”
The National Retail Federation (NRF) conducted a study that revealed Trump’s proposed tariffs could cost US consumers between $46 billion and $78 billion annually, with the average household paying between $362 to $624 more on goods per year. The NRF called these proposed tariffs a “tax on all Americans,” and noted that lower-income Americans, who often purchase cheaper goods produced in China, will be disproportionately affected. The federation believes apparel costs will rise from $13.9 billion to $24 billion, footwear will rise to $10.7 billion from $6.4 billion, travel goods will increase to $3.9 billion from $2.2 billion, furniture will average $13.1 billion more compared to the current $8.5 billion, and household appliances will increase to $10.9 billion from $6.4 billion.
“A tariff is a tax paid by the U.S. importer, not a foreign country or the exporter. This tax ultimately comes out of consumers’ pockets through higher prices,” Jonathan Gold, NRF VP of Supply Chain and Customs Policy, stated.
Trump believes that these tariffs will bring manufacturing back to America and force companies to hire American. While the US desperately needs to boost its manufacturing sector, these tariffs are simply not the solution. Companies may seek to reduce their own reliance on US goods. China in particular will retaliate and they do so with precision as we have seen with their previous targets on agriculture products that the US relies on like pork and soybeans.
Imposing high tariffs can disrupt global supply chains and negatively impact international trade relationships. I disagree with the mercantilism approach that focuses on maximizing exports while minimizing the need for imports through tariffs and other barriers. Not only is US manufacturing not set up for this model at this time, but it is also absolutely counterproductive to global trade. Not to mention that China’s middle class is set to outpace America’s. They have a far larger population and America may no longer be the primary country that other nations line up to sell to.
Tariffs never promote peace. Rome lasted over 1,000 years because it had FREE TRADE. Rome was not corrupt everyone benefitted. As long as the PEOPLE are trading back and forth, they provide check and balance against government to create peace.
Posted originally on Nov 21, 2024 by Martin Armstrong
The incoming Department of Government Efficiency (DOGE) under Elon Musk and Vivek Ramaswamy is tackling a serious problem – the complex tax code. Donald Trump has also expressed a keen interest on simplifying the process and fixing our “broken tax code.”
The Internal Revenue Service was multiplied and armed with weapons under Biden-Harris. The administration desperately needed funding for its continuous spending and aid packages, and the American people were an easy target. One can hope that the incoming Trump Administration will help to dismantle the IRS that creates criminals out of everyday citizens who spend weeks if not months trying to determine how much they owe. The government doesn’t seem to know how much they need to extort from citizens, but rest assured, they will hunt you down if you under or overpay.
The code is deliberately confusing. “In 1955, there were less than 1.5 million words in the U.S. Tax Code. Today, there are more than 16 million words. Because of this complexity, Americans collectively spend 6.5 billion hours preparing and filing their taxes each year. This must be simplified,” DOGE wrote on its new X account.
DOGE has proposed creating an app for Americans to pay their taxes. That is all good and well but until the code is drastically simplified, I do not see how filing on your phone could streamline the process. Still, TurboTax shares fell 5.1% after the rumors broke as did H&R Block by 8.2%.
I sent Congress an extensive proposal on tax reform in 1996, which you mayread here.
Taxation is indeed a much broader issue than merely federal. State and local governments have been raising taxes at an unseen pace. The cost of government as measured by total revenues as a percent of the total of GDP is a key factor in determining our quality of life, and as we have seen, our quality of life has been drastically reduced as government spending rises. The people cannot possibly be expected to foot this endless bill. The Founding Fathers of the United States specifically prohibited direct taxation, such as any form of an income tax.
One of the primary things is that the tax rate should be cast in stone and it should not change for every election. No one, on a personal level, would go sign a lease on an apartment where the lease said the landlord can change your rent at any time he wants if he spent too much money for himself. . A contract is a contract and you’re not going to have stability until you have something set in stone. A lot of countries have attracted capital by doing precisely this. If you go there and set up a plant, they guarantee not to increase taxes for 20, 30, 40 years. If you’re going to do a business plan then you need to know what your costs are. It can’t be maybe $1 mill this year and next year it’s 25% more. Business plans don’t work like that. The politicians need to just cast it in stone and that’s it; take it off the table. Stop the rhetoric. They’re not going to create jobs without that. Why should anyone build a plant in the U.S. if the government can change everything in 6 months? That’s not the way to build an economy.
Every government that has adopted a form of direct taxation has always, and without exception, evolved with intrusive regulation that has ultimately led to a loss of freedom and liberty. To pursue liberty, the very basic requirement demands that economic freedom is paramount.
Posted originally on Nov 20, 2024 by Martin Armstrong
Zelensky, when asked about his actions leading to World War III, switches from English to Ukrainian and claims that since North Korea sent troops into Russia, this makes it World War III. But all the West behind Ukraine does not. He also glosses over the fact that he has invaded Russia and that the North Korean troops are defending Russia – they did not invade Ukraine.
He sold Ukraine for a handful of silver. In August 2024, Ukrainian forces invaded the Kursk region of Russia in what some war analysts predicted was another cross-border raid against Moscow. However, within days, it became very clear that the Ukrainian Armed Forces had intended to stay in Russia. This begged the question: Why did Ukraine decide to invade Russia? On whose orders was this operation carried out? Zelensky with no military experience, or the American Neocons?
Ukrainian officials were initially very cagey about their reasoning, which made it seem that this was an operation directed by Antony Blinken from the White House. Zelensky was put on the spot to explain this operation. He said Ukraine decided to invade Russia, hinting that the reason behind his choice to invade Russian territory was quite contorted. He said:
“It is now our primary task in defensive operations overall to destroy as much Russian war potential as possible and conduct maximum counter-offensive actions.” He continued: “This includes creating a buffer zone on the aggressor’s territory — our operation in the Kursk Oblast.”
Zelensky went on to explain that the “coming weeks will be crucial for our diplomatic efforts with various partners in Europe, America, and the Global South,” suggesting he was taking orders from the West.
“We’ve already expanded and will continue to expand the circle of those who support a just end to this war. It’s essential that Ukraine enters this fall even stronger than before.”
Whether or not the decision to invade Russian territory was the right choice for Ukraine or was it just a move to try to force Putin the attack anything in NATO remains to be seen. This only emboldened Russia’s allies, as we have seen with North Korea sending troops and weapons. The allies of Russia are of the opinion that this is a war against the West – not just Ukraine. While some originally thought those would boost Ukraine’s future negotiating position by bringing the war home to Russia, that theory has been discredited now with the green light with long-range missiles from the USA, the UK, and France. This has merely put Putin in a position where he must now respond forcefully. In response to these new strikes with US and British long-range missiles, Russian Foreign Minister Sergei Lavrov said that they had entered “a qualitatively new phase” of what he termed the “Western war against Russia.”
Any idea that this was somehow to create peace is just absurd. Trump had vowed to end the war, so the Neocons had the senile one approve it, and the Ukrainian puppet responded with an immediate attack. As far as defending inside Ukraine, Zelensky has banded that for this operation into Russia. On October 25th, The Washington Post reported that Russia had taken back roughly half of the territory captured by Ukraine in Kursk, and it had expanded its rescue for the Ukrainian Russians living in the Donbas.
Posted originally on Nov 20, 2024 by Martin Armstrong
COMMENT: Thank you for telling the truth. We are watching our country be destroyed, and Zelenskyy has suspended all elections, so we have no right to even vote on the future of our country. I do not believe his election was fair. My family is intermarried with Russians, as so many here. I was at Maidan when your McCain was pushing us for war. I don’t know what to do. We have no choice but to flee our country because Zelenskyy will destroy everything and sell it to Blackrock. I wish the world would listen to our plight. We were so happy when Trump won. We thought we would get peace at last. I do not know your neocon people or why they want war and we suffer the price.
DZ
REPLY: I am sorry for your future. You are correct. It is best to leave. The Western press and those brainwashed into hating Russians refuse to even look at the timeline of events. Yes, John McCain was there egging on war and promising America was with you. I can’t image if a Russian stood on the capital steps in Washington and said overthrow our government and Russia would be with us. But it is always different when the shoe is on the other foot.
Victoria Nuland installed her hand-picked, unelected government and then instructed them to attack the Donbas to draw Russia into this war. They called it the anti-terrorist movement that had to be crushed, which was their cry for a right to vote and separate. That used to be called democracy, but that word is reserved only for their actions, not opposition.
That was the Minsk Agreement, and Chancellor Merkel admitted publicly that they negotiated in bad faith. Why would anyone ever again honor any agreement with the West when our leaders lie to us, the people, and to the world?
To get Putin to invade, the day before, Zelensky said he would rearm Ukraine with Nuclear weapons, and 2 days before that, Kamala Harris publicly stated that Ukraine should join NATO.
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When I reported in the first few months, 100,000 Ukrainians had died, the anti-Russian propagandists claimed I was putting out Russian propaganda. I said my info came from Ukraine. When the head of the EU gave the same number of military deaths, Zelensky made her take it out, claiming it was classified.
The real number of deaths from UKRAINIAN sources is 1.1 million, I am told, and AGAIN, this comes from Ukraine – not Russia! In fact, a local TV news operation reported the real number, and Zelensky again made them take it down as he did with the head of the EU. They suddenly reported it was a typo. The Neocons are completely destroying Ukraine, and they have ZERO regard for Ukrainian lives as they will with Americans or Europeans.
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I am sorry for your loss. The Western media has so brainwashed people into hating Russians that they are blind to the exploitation of the Ukrainian people by the Neocons who could care less about Ukraine. All they care about is killing Russians.
This is what we are all supposed to die for—their war games.
Posted originally on Nov 20, 2024 by Martin Armstrong
Russia has begun mass production of mobile nuclear bunkers. This is in response to Ukraine’s use of Western US and British missiles to attack deep inside Russia to destroy its conventional capability so NATO can launch an invasion by March/April 2025.
This has coincided with Mr Putin’s change of Russia’s doctrine to lower the threshold for using nuclear weapons to include the use of conventional weapons by Ukraine. Russia’s defense ministry said Ukraine attacked an ammunition stockpile in the Bryansk region using missiles supplied by the US military’s MGM-140 Army Tactical Missile System (ATACMS).
Russia has also ordered the production of its mobile nuclear bunkers to protect citizens. They are shelters capable of protecting people from the light radiation of a nuclear explosion and radioactive contamination of the surrounding environment. These are known as “KUB-M” and will protect 54 people for 48 hours from the air shock wave and light radiation of a nuclear explosion; penetrating radiation and radioactive contamination of the area; high-explosive and fragmentation effects of conventional weapons; falling debris from building structures; dangerous chemicals; fires. Unlike traditional, stationary bunkers, mobile bunkers are built to be easily moved from one location to another, often on vehicles or trailers. They can be equipped with advanced shielding, air filtration systems, and other necessary survival equipment to withstand the harsh conditions of a nuclear event.
The Western press keeps putting out the Neocon and NATO propaganda that Russia will never fire a nuke and Ukraine can win the war. But this is all a smoke screen for NATO will invade Russia, and they are using Ukraine as our Hesbolla, the same as Iran is using Lebanon. Zelensky claimed he invaded Russia to force Putin to peace. But they had a peace deal. Boris Johnson ran to Kiev and instructed Zelensky he was not allowed to sign a peace deal, and now far more than 1 million Ukrainians have been killed so Europe can invade Russia.
Just as Robert McNamara said about Vietnam and the Weapons of Mass Destruction that did not exist in Iraq, what if these people are wrong AGAIN? There goes Europe! Not a single European leader cares about their own people.
Either the Ukrainian people rise up and take their country back, or Putin needs to nuke Kiev to show the world he is serious. Otherwise, we are sleepwalking into World War III. Our press will NEVER write a single word for peace. It is always Putin is bluffing. What if you are wrong again?
Meanwhile, the U.S. Embassy in Kiev was just shut down after Biden gave the go-ahead to use long-range missiles. Hm. If this was to win the war, then why flee Kiev? They know Putin will respond forcefully against Zelensky. Russians get nuclear bomb shelters, and we get Fake News – Don’t worry – he’s bluffing.
In an effort to put the brakes on the Ukraine escalation, perhaps Trump will announce that if the escalation doesn’t immediately stop, then Zelensky and others, such as those in the illegitimate Biden regime, will be tried for war crimes.
Regards,
FA in Arkansas
REPLY: They should be charged with war crimes. It is the act of war itself that benefits NOBODY. The best a soldier can hope is to come home alive and intact. They get NOTHING from war. I lost most of my high school friends to Vietnam. McNamara admitted before he died that they were wrong back then as well. What did they die for? Strip clubs in Vietnam today?
What these people are doing is outrageous. Boris Johnson killed the peace deal, and now over 1 million Ukrainians have died for that. He and the rest are trying to beat Hitler’s death record for the Guinness Book of Records. Zelensky is also firing British Storm Shadow missiles into Russia. These people are desperate for World War III by December.
Trump & RFK had better come out and make it known, or we will see a major war into 2026. (1) inform Zelensky all money will be cut off, including for all his government employees and their pensions, (2) he will put a ban on any investment in Ukraine, and BlackRock will not be able to give him hundreds of billions to line his pockets for rebuilding, (2) pull all funding from NATO, (3) impose trade restrictions on any European nation that supports war against Russia and funds NATO.
Otherwise, Europeans should not bother to buy a grave plot. Your leaders will all flee to Miami with Zelensky, and there may not be anyone left to bury your ass. This is nuclear war, not selective bombing, as in World War II. Hitler wants Europe, not destroy it. He stole art from everywhere, and he didn’t bomb Paris because he thought it was a pretty city. He left the monument standing like the Colosseum. With nukes – it’s all gone.
NATO is telling your weak leaders that Russia will never fire a nuke so they can use Ukraine to destroy Russia and then walk in and rob everything as the spoils of war. These Neocons have NEVER been one single person since World War II. As McNamara said – “We were wrong!” NATO does not give a second thought to what would happen if they were wrong. They are risking the lives of humanity for their personal hatred. NATO should be put on trial for war crimes.
Posted originally on Nov 20, 2024 by Martin Armstrong
Not one European leader represents their country or their population. They are all chanting war. The Finnish minister warns NATO may invoke Article 5 over cable sabotage of the telecommunications cable. Europe wants war, and NATO is brainwashing everyone that Putin wants to conquer Europe, so let’s conquer Russia first. NATO is the retirement home for Neocons. Fearing Trump, they are going all out to create war by December. Europeans had better move money out of Europe, for they would impose capital controls.
What NATO is doing is no different than punching you in the face first, insisting it was in self-defense because he knew you wanted to punch him first. This is NATO’s version of Self-Defense. The Neocons got Biden to let Ukraine use US weapons, and they did immediately. The Neocons are pushing every button to create war by December. This is their moment. This is what they have been dreaming of their entire lives.
Moscow signaled to the West that it was ready for a nuclear confrontation after Ukraine was permitted to attack Russian territory on the same day. Kiev takes its orders from the Neocons. Ukrainians I talk to regard Zelensky as a traitor, and they are not allowed to seek peace or decide the fate of their own country. Ukraine has been converted into the West’s version of Hezbolla, exploiting them as Iran does to Lebanon.
Zelensky appeared to waste little time after reportedly being given the go-ahead by Washington on Sunday to use U.S.-made ATACMS missiles against specific targets. Ukrainian news outlets reported early Tuesday that the missiles had been used to attack a Russian military facility in the Bryansk border region.
Putin has been there since the end of 1999. He has had plenty of time to invade Europe and has not. That is the BS of the communist days led by Khrushchev, who even the Russians overthrew for his aggressive antics that included putting missiles into Cuba.
Not a single European leader gives two shits about their people or their country. Not a single one will dare to even try to negotiate. They will be the destruction of Europe this time – as they say
Posted originally on the CTH on November 20, 2024 | Sundance
According to breaking media reports the suspect, Harun Abdul-Malik Yener, was homeless.
Yet somehow, he found the resources to travel from Florida to New York and assemble the contents of a device that would be used to bomb the New York Stock Exchange.
NEW YORK – U.S. law enforcement on Wednesday arrested a homeless Florida man and charged him with plotting to bomb the New York Stock Exchange after an undercover employee recorded him saying, “I feel like Bin Laden,” federal officials allege.
The suspect, Harun Abdul-Malik Yener, took steps to set off a bomb outside the stock exchange on Wall Street in lower Manhattan, according to an FBI affidavit. The affidavit was filed in support of a criminal complaint charging Yener with attempting to damage or destroy a building used in interstate commerce by means of an explosive.
Yener has been assigned a federal public defender in the Southern District of Florida whose office did not immediately respond to a Reuters request for a statement regarding his defense.
Yener’s motives remained unclear. The FBI said that besides making the comment about Osama bin Laden, the former al Qaeda leader and mastermind of the 2001 attacks on the United States, Yener also described an attempt to join right-wing militias and expressed general anti-government sentiment, saying: “This country is due for a revolution.”
The FBI had been investigating the suspect, described as unhoused and living in Coral Gables, Florida, since February after receiving a tip he was storing bomb-making schematics in a storage unit, the FBI said. FBI agents found bomb-making sketches, timers, circuit boards and other electronics.
In conversations with at least three undercover employees, Yener said setting off an improvised explosive device would lead to a “reboot” or “reset” of the U.S. government. (read more)
“Energetic material that can become combustible when subjected to heat or friction”… Ring a bell?
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