It is a depressing reality, but around 73% of Americans will die with debt, according to a 2016 poll by Credit.com. The average amount of outstanding debt at the time of the report was an alarming $61,554.00 per person. Around 68% of those studied had credit card debt, 37% had mortgage debt, and 6% died with student loans. US household debt has spiked significantly since this survey was taken, and at least three in four Americans will die without the ability to pass on their lifelong earnings to their kin. Survivors likely will not need to pay off the debt as creditors will confiscate any available assets.
Let’s not forget that dying in the land of the free is anything but free due to death and estate taxes. Americans feel more optimistic about the situation than they should — only 30% of Americans polled during a 2017 survey believe they will die with outstanding debt. Credit card debt was once an indication that people were living well beyond their means, but with the accelerated cost of basic living necessities, the gauge is less plausible. This is one of the many reasons why financial literacy is absolutely crucial to maintain financial independence throughout life. It is possible to rise above debt, but most do not. As inflation continues to wreck every sector, it is of the utmost importance that people budget and allocate funds appropriately.
However, inflation will also reduce the out-of-pocket revalue of previous debt. This survey appears to be based on the presumption that everything remains equal. The greater risk will be the hike in state and local taxes, in additional to federal.
Ever since 1927, when the Federal Reserve lowered interest rates in a failed attempt to help Europe, which still ended up defaulting in 1931, Keynesian economics succeeded in brainwashing the analysis of how people look at the central banks. Where the 1927 G4 attempt to lower rates in the US was intended to deflect capital back to Europe, smart capital began to smell a rat, and they were correct. The capital inflows to the United States intensified and aided in creating the 1929 bubble high just as the 1989 Japanese bubble aided by capital inflows.
Then there was the G5 in 1985 that stupidly tried to lower the value of the dollar to reduce the trade deficit. They were clueless that at the same time, that would devalue US assets by 40%, which resulted in the 1987 Crash. You cannot lower the value of the dollar to sell more goods without also lowering the value of everything in your country. They don’t teach that in economics class because the government is supposed to be all-powerful.
Now people claim the entire rally is because the Fed has been engaging in QE since 2008. They claim the Fed has inflated the assets and the entire movement they attribute to the Fed’s actions. This is no different than the commands from Fauci to wear masks when at the beginning he stated that masks do nothing. There are people who wear a mask when driving alone in a car because they are incapable of independent thought. This is the same problem – as Stanley Milgrim called it, blind Obedience to Authority.
Post-Great Depression, the analysis became MARXIST. Oh, the Fed will raise rates because they do not want us to buy assets so the stock market should drop. But the Fed raised rates all the way into the rally until COVID. That did not prevent the rally. Yet analysts continue this brainwashed analysis that raising rates is bearish for the market.
Now they claim that, oh, it’s QE. They never look at the system as a whole, which includes international capital flows. The Fed failed to produce inflation while engaging in QE between 2008 into 2019. They ignore that, just as the global warming crowd ignores everything before 1850. If the Fed issued $1 trillion and buys in US Treasuries, I hate to tell you, but it has ZERO impact. Why? Because debt today is simply cash that pays interest.
Once upon a time, you could not borrow against government debt. Thus, it was deemed non-inflationary as long as it could not be used as money. Today, you post bills as collateral to trade futures. The old theories no longer exist in this new strange world we live in. Hence, all the QE was merely swapping the debt for cash.
Then it all depends on who is actually the seller of the debt to the Fed. If China sold its debt for cash, then the dollar went offshore and the domestic money supply never increased. There is a lot more to this game than the simplistic analysis that leads to brainwashing the financial community and investors. I know. I have been one of the few international advisers dealing with people on all continents.
Posted originally on the conservative tree house on November 23, 2021 | Sundance | 207 Comments
At first I thought this was a parody of news media outlooks. However, once I saw the article [ABC News] I realized it was not a spoof; it’s very real.
The San Francisco news desk of ABC7 actually has a position called “race and social justice reporter” who claims the term “looting” is a politically and culturally incorrect way to describe the looting that has been taking place over the past several days. However, I’m not exactly sure of the journalist’s qualifications for reporting, because he also claims not to be able to see the race of the people doing the actual looting. WATCH:
… In order for the ideological leftists to continue advancing their insane ideology, they have to pretend not to know things. Race and social justice reporter Julian Glover is certainly proving that point by pretending not to see who is doing the robberies.
Posted originally on the conservative tree house on November 23, 2021 | Sundance | 380 Comments
Eh, this is awkward… and simultaneously so typical of the current administration. The White House trotted Energy Secretary Jennifer Granholm to the microphones today to tell the DC stenographers how brilliant, beneficial and strategically necessary it is to release 50 million barrels of oil from the Strategic Petroleum Reserve in an effort to lower gasoline prices. The enthusiastic Energy Secretary read the script, gave her talking points and then took questions.
However, after spending 15 minutes talking about the strategic brilliance of the 50 million barrel release, one of the stenographers accidentally asked: “that said, how many barrels of oil do U.S. consumers use every day?”… Granholm paused, looked down and said: “I don’t have that number in front of me, I’m sorry“… WATCH:
♦ The amount we are giving you is so incredible and brilliant it will make everyone’s lives better. The best ever.
♦ How much do we need?
♦ I don’t know. We didn’t get that information. But the amount we are giving is awesome.
Yup, that’s the Biden administration encapsulated.
Posted originally on the conservative tree house on November 23, 2021 | Sundance | 243 Comments
The Black Lives Matter terrorist who killed five and wounded 20 is having his first court hearing today at 5:00pm ET. Brooks will have his preliminary hearing in Wisconsin under the careful control of the U.S. Dept of Justice Community Relations Service (DOJ-CRS) who oversee all U.S. criminal cases when race is identified as the underlying motive for an attack. UPDATE: Video Added
The proceedings will be livestreamed and viewable online – AT THIS LINK –
Click on Waukesha County and select Court Commissioner to view.
Due to the high visibility of the case; and specifically because the DOJ-CRS are the primary stakeholder in the judicial proceedings {Go Deep}; the Community Relations Service has provided a court order instructing the Waukesha judiciary how they must engage/control media access. [Media Instructions Here] The CRS provides the template and Chief Judge Jennifer Dorow signed the order.
The primary concern for the CRS, aka ‘federal peacekeepers‘ is control over the national media narrative. The techniques behind the court order are familiar.
The DC system operators have used racial division for their own benefit for decades; however, the peacekeeper deployment has been refined, updated and refreshed with the advent of technology and social media.
The CRS primarily focuses on clouding, obfuscating and hiding motives from violent race-based attacks. They will take a small innocuous possibility and expand it into the larger talking points if that helps to deflect attention away from the real racial motive of a violent attack. Remember, the CRS primarily activates when the controlled minority group attacks the majority group.
The CRS stands aside when national media and politicians push a false narrative that benefits their objectives. When a NASCAR garage pull down rope is falsely promoted as a noose, the CRS just watch and do not refute the claim. When Kyle Rittenhouse is wrongfully accused of being a white supremacist the CRS do not get involved, they just watch and do not refute the claim. These examples advance the objective of the cultural Marxists and are therefore not impeded.
However, when a supported minority group attack the majority group with a motive based on race, the CRS quickly jump into action. That is the specificity of what they do, and the CRS have broad power and authority to carry out their operations because they are aligned with one side of the political continuum.
The CRS use allied media to shape their control over their defensive justifications and narratives. The CRS also have a massive network within the faith-based community that act as partners for their mission.
The African Methodist Episcopal church (AME) is a major partner for the CRS in their objectives. Their relationship goes back to the civil rights era, before the CRS was corrupted for unilateral political benefit. There is also a large network of nationwide community activist groups who are part of the CRS rolodex. The federal peacekeeper reach is massive and, because of the cultural sensitivity they use as a weapon, it is virtually unchallenged.
What we will witness today in Waukesha, Wisconsin, is entirely scripted by the DOJ Community Relations Service. The CRS will want national attention on this attack to disappear quickly. They will coordinate this effort by focusing any response to media on a local level. The CRS do not want detailed national media coverage, and the media is more than willing to bury it.
The proceedings will be livestreamed and viewable online – AT THIS LINK –
Click on Waukesha County and select Court Commissioner to view.
Posted originally on the conservative tree house on November 23, 2021 | Sundance | 238 Comments
Apparently the people behind Joe Biden realize the ridiculous prices at the gas pump are going to be a major political issue for them in the next election. As a result, they have decided to release 50 million barrels of oil from the strategic petroleum reserve (SPR), enough for approximately 3 days of demand. [Announcement Here]
The strategic reserve is intended as an emergency supply in the event of war or national crisis that demands we have some insurance measures to protect ourselves. The SPR is the world’s largest supply of emergency crude oil, and the oil stocks are stored in underground salt caverns at four storage sites in Texas and Louisiana.
The oil in the strategic oil reserve was previously paid for by taxpayers. What Biden is doing right now is giving reserve oil to energy companies who then turn around and refine it into gasoline for taxpayers to purchase. We get to buy it twice, and Biden wants to be thanked for doing it.
The Biden administration is going to lower gas prices for taxpayers by allowing taxpayers to purchase their own oil. Brilliant!
In related news, the Biden administration also held a call today [LINK] to announce their plan to ease inflation by printing more money.
QUESTION: Hi Marty, I write to you somewhat often. Never get a response on the blog. I was hoping you could respond to this one question to put my mind and the mind of other Americans at peace. It is clear that Europe is falling to the Covid tyranny. You say that “they” will not win in the end in the U.S. So my question is, what is the fate of the U.S. Should I be leaving my career, selling my house, and moving to a self-sufficient farm? Will the vaccine become compulsory for everyone in the U.S. or are they starting to lose? In short, can you give an overview of Socrates’ predictions and the timeline for the U.S.? Will it devolve into WWIII or a civil war, and when is that predicted? Will they put the unvaccinated in concentration camps at some point? Will there be shortages in the U.S. that result in famine?
What do you think? You would be helping an untold number of people by responding to this in the blog. Thank you so much for your time!
Don
ANSWER: I will try to put together a report for this overview. Europe is hopeless. Because they moved to negative interest rates in 2014, I warned them this would destroy their bond markets and undermine Europe completely. They refused to listen. Now we are seeing the consequence of those actions. This video is from an interview when I was in Europe back in 2018.
They are using COVID lockdowns, not for heath, but to crush the people into submission. They are following Schwab’s agenda — you will own nothing and be happy — pretending they are doing this for you when in fact it is the government defaulting on their debt. Europeans should put their money outside of the euro exactly as the Germans were using everyone else’s currency but their own during the hyperinflation.
Europe has no choice. The EU agenda has completely failed. This is why they have embraced Schwab’s agenda. To retain power and prevent the people from storming the palaces of the elite and parading their heads on spikes through the streets, they needed the lockdowns, destroy people’s ability to pay their debts, then sweep in with absolving everyone of debts as they default.
Schwab believes his Fourth Industrial Revolution will eliminate jobs through technology with robots and the creation of body parts. I believe he is trying to accelerate this so he does not die. But just like global warming, they are terminating fossil fuels now decades before there will be any sufficient replacement. They are destroying jobs on a grand scale in Europe also long before robots could replace a sufficient amount of the workforce. They are changing the world economy now while reading comic books of Flash Gordan and assuming that will be tomorrow.
The United States is a different power structure and Biden cannot do what European leaders are doing. This is why Soros is funding groups to try to destabilize the United States and this is most likely going to lead to civil war for he has been funding the polarization of America with the aid of the Democrats.
This idea of recreating the world economy when they do not even understand that it is the people who created the economy, not the elite. Schwab clearly does not believe in God, like Karl Marx, or in nature. He thinks that the elite can direct how the future should be just like the Communists. People think that communism failed ONLY because they did not have the USA and Europe in the fold.
Such people reject the foundation of Adam Smith’s invisible hand and think they can decide, as the Communists did, what direction the economy should take from a bureaucratic central overview. That has been proven to be wrong so many times, but they refuse to give up because it is their power they cherish — not the people.
There is a revolution brewing in the country. They are deliberately undermining society in hopes of taking over the United States. I will provide a detailed report on all of this and why Socrates has forecast that they will FAIL. Let it be said, I have tried very hard myself to defeat Socrates. But I have failed every time. I did a Solution Conference in 2015 when I realized it was Schwab I was fighting against.
Biden nominates Powell for the second term as Fed chief, as Democratic Opposition to his leadership is rising fiercely. Biden’s handlers appeased the Progressives by naming Brainard vice-chair. The hearings of Omarova have rattled even conservative Democrats who are starting to wonder who is really calling the shots.
Then the word in DC is that Biden will run in 2024. The conservative Democrats are beside themselves. With Biden’s polls at only about 33% favorable, they are starting to suspect that his administration is about this Great Reset and the strings being pulled are not to their liking. But a president who is mentally incompetent is exactly what these people wanted to change the United States into a Marxist Wonderland.
Why do 20% of Millennials(25-40-year-olds) in the US believe homeownership is completely unobtainable? To start, rentals across the US are on the rise. The Fair Market Rents (FMRs) compile data every year to determine the cost of the 40th percentile gross rents for typical, non-substandard rental units. This means that the majority of rental properties cost more than the FMRs reports.
From October 2020 to September 2021, Arkansas saw the lowest rental costs for a standard two-bedroom at $697 per month. Alabama ($726), Mississippi ($727), and Missouri ($728) also had some of the lowest costs for two-bedroom rentals in the nation. However, people living there typically receive wages based on the low cost of living. On the high side, Hawaii came in as the most expensive state to rent a two-bedroom at $1,798, followed by the District of Columbia ($1,765), Massachusetts ($1,642), and New Jersey ($1,552). Again, these figures represent only the 40th percentile of properties, and most people are paying more.
Gone are the days when people could spend the standard recommendation of ¼ of their monthly income on housing. This leaves renters with reduced savings for the property of their own, and the cycle of renting continues. For those who can save to own property, the property tax makes it nearly impossible to make the transition from renting to owning despite mortgage prices being similar to rental costs. This does not even touch income tax, capital gain tax, sales tax, and the plethora of taxes we need to pay to the government to exist.
According to data, New Jersey has the highest property taxes in the countryat 2.47%. Therefore, a $205,000 home would cost a property owner around $5,064 annually in property taxes alone. Illinois has the second-highest rate at 2.3%, New Hampshire at 2.2%, and Connecticut at 2%. Despite having the highest rental costs, Hawaii has the lowest property tax at 0.27%; however, the state demands some of the highest home prices in the country. Alabama (0.42%), Colorado (0.53%), and Louisiana (0.53%) also have some of the lowest property taxes in the nation. To own, expect to have the funds for a down payment, closing costs, inspections, repairs, maintenance, and more. The ongoing home bidding wars and declining inventory has also made the American dream of homeownership seemingly unobtainable for many. This has led to an entire generation delaying milestones such as having children and a family, which, in turn, contributes to a weakening economy.
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