DNC President Tom Perez announced today that Fox News will not host, nor will they be even allowed to broadcast, a Democrat primary debate for the 2020 presidential race.
The DNC is anticipating more than a dozen debates and they will not allow Fox News to broadcast any of them.
In response, President Trump announced he is considering applying the same standard to the left-wing media for the general election:
The media will go bananas in 3,… 2,…
Speaker of the House Nancy Pelosi is scheduling an Ilhan Omar resolution for Wednesday (full pdf of resolution below) in an attempt to protect her party and cover ongoing, bigoted and sustained antisemitic comments from Muslim freshman representative Ilhan Omar. However, Pelosi’s attempt to hide the inherent strain of anti-Jewish sentiment throughout her party is likely to fail.
Quite simply, Speaker Pelosi and her House leadership are once again putting their fingers in the cracks of a crumbling wall holding back the far-left hatred for Jews growing amid their base each year.
To further Pelosi’s anxiety, Ms. Omar has full-throated support from fellow freshman Rep. Rashida Tlaib (MI), the first Palestinian-American congresswoman, and the celeb progressive Alexandria Ocasio-Cortez (N.Y) who compares Omar’s attacks against Jewish people to the demands made by “civil rights icons” of years past.
There’s an ideological baseline here that cannot be overcome simply by putting political resolutions on the floor while Omar, Tlaib and AOC express their underlying desire for their preferred ‘final solution‘, to see the nation state of Israel destroyed. Apparently they too have a dream…
Donald J. Trump✔@realDonaldTrump
It is shameful that House Democrats won’t take a stronger stand against Anti-Semitism in their conference. Anti-Semitism has fueled atrocities throughout history and it’s inconceivable they will not act to condemn it!
Here’s the House Resolution:
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WASHINGTON DC – […] If the House moves ahead with the vote on Wednesday as planned, it would be an unprecedented public rebuke of Omar, who was sworn into office just over 60 days ago. Omar’s office declined to comment about the Democratic resolution on Monday. (read more)
The Socrates’ Array on Vancouver real estate published back in 2015 picked the high in 2017 and the crash into 2019. The high in the top line was forecasting 2017 rather nicely. Note that things begin to change in 2020-2021. Not that prices in real terms rise, but this is lining up with the ECM turn in January 2020 and the start of a new business cycle. This next one will be more dominated by the decline in confidence in government and the rise of political tension that will be worldwide from separatist movements to the fracture of political parties.
No matter where we look, markets are beginning to reflect a new business cycle is approaching. While this will be one of the focuses at the upcoming Rome WEC May 3rd/4th, the shift in global trends is really amazing. We will also be providing a training session on Channel Moves, which in themselves, is rather rare.
QUESTION: Hi Mr. Armstrong et al: Read your blogs daily with great interest & recommend them to all my friends. You’ve absolutely changed my perspective on so many issues. There is a contradictory theme that I & my friends can’t figure out – hope you could respond.
You have an obvious animus with Mr. E Griffin & his “Creature” book.
It’s our observation that both you & Mr. Griffin arrive at more or less the same destination-political chaos & possible currency disruption, as a result of politicians stupidity & short term thinking. You both just take different routes to arrive at similar conclusions.
The RESULTS of this stupidity are more important to all of us little people than the REASONS for all this impending upheaval. Could you respond? It’s quite a conundrum to my group.
Thanks for all you do.
ANSWER: That book all focuses on the elastic creation of money and puts all the blame on the Fed and bankers. I understand that central banks have been demonized and the great conspiracy centers around their ability to create money. Creating money is not really the issue for the amount they have created is peanuts compared to the continued debt created by politicians. Congress just created $1 trillion-plus in December 2015 and nobody noticed.
You now have people proposing the Modern Monetary Theory (MMT or Modern Money Theory) because they have witnessed central banks increasing the money supply post-2007 and have been unable to create inflation. They then use this as evidence that the government can just create money at will and it does not lead to hyperinflation.
The approach of MMT typically seen as an evolution of Chartalism and is sometimes referred to as Neo-Chartalism. They argue that in sovereign financial systems, banks can create money but these “horizontal” transactions that do not increase net financial assets as assets are offset by liabilities. Therefore, they argue that the balance sheet of the government does not include any domestic monetary instrument on its asset side. In MMT, “vertical” money enters the economy through government spending. Since money is legal tender meaning the government accepts it for taxes, this creates the demand for currency. You need the paper dollars to pay the government its pound of flesh.
At the state and local level, we also have fines, fees, and licenses that all combine to also create demand for the currency. This can be a currency issued by the domestic government. Because the government can issue its own currency at will, under MMT it is argued that the level of taxation relative to government spending is, in reality, a policy tool that regulates inflation. Therefore, under MMT, the dreams of Bernie Sanders making everything free becomes possible. Of course, this all ignores the question of control and public confidence.
We need central banks as a clearing mechanism and to maintain reserves of member banks. The problem is that central banks are not all created the same. Jackson destroyed the Bank of the United States, which did not engage in quantitative easing and had no such power to create elastic money. They simply lent money to Jackson’s opponents. The destruction of the central bank resulted in the Panic of 1837 and the sovereign defaults of the states during the 1840s that occurred after the states had issued debt in an attempt to bailout state banks that went nuts without a central bank to control anything.
You ended up with banks creating their own money and they would print notes and sell them at a discount to brokers in New York to circulate notes of banks nobody heard of. The wholesale creation of money did not work well when the government began to refuse to accept these notes for taxes and the sale of land. Once that took place, the value of money collapsed and nobody would accept it. The government refused to accept it because it had already declined in purchasing value.
That book focuses on the central bank and ignores everything else. It is distorting the reality just as MMT is misleading people into thinking they can just print their way out of this mess. The fiscal side of the balance sheet has a national debt that is over $20 trillion and that really just cash that pays interest. Stop worrying about the Fed and look at the entire picture.
Rebel Media host Ezra Levant and legal analyst Manny Montenegrino discuss the ongoing Canadian political scandal now engulfing Justin from Canada. {Background Here} and {Update Here}. On the surface the SNC-Lavalin bribery, corruption and political obstruction case may seem small, but the ramifications are huge.
Amid growing public sentiment that Justin Trudeau did indeed use his office for corrupt purposes; and with a second well-regarded cabinet minister leaving because she cannot support the Prime Minister’s Office (PMO); it was stunning to watch Trudeau’s political appeal to the Canadian electorate for support yesterday.
Prime Minister Trudeau pleaded with his political supporters to consider “the big picture” at stake. Trudeau argued his political value in achieving the progressive agenda was worth more than the Canadian judicial system. There’s a full blown constitutional crisis.
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A Conservative motion in the House of Commons calls on Prime Minister Justin Trudeau to testify. Calgary Nose Hill MP Michelle Rempel lays out exactly what this is about and why it matters:
Former New York Mayor Michael Bloomberg, Former U.S. Attorney General Eric Holder, and former Secretary of State Hillary Clinton were all potential presidential candidates. However, in the last 24 hours all three have publicly stated they will NOT be running for President in 2020. [Bloomberg here – Holder here – Clinton here]
The timing here is very interesting. The odds on three of the top-tier politicos randomly announcing their lack of intent within 24 hours of each-other is very small. Therefore, it would appear a decision on DNC club’s ‘Chosen One‘ has been cemented and dispatches distributed to the executive offices.
With Clinton, Bloomberg and Holder removed, the remaining potential party and donor supported candidates include: Robert Francis “Beto” O’Rourke, Michelle Obama, Oprah Winfrey, Stacy Abrams or some other, perhaps an outsider. Who could it be?
Curiouser and curiouser… Keep watching for the ‘tell’ within the roll-out.
QUESTION: Hey Martin
First of all, great work with the new Socrates. Thank you very much for getting it to us.
You have said that rates are exploding with fed raising rates for the pension funds and because of the lost confidence in government, at least here in Europe.
Am I correct when I take what you have said, as European, to invest in short term US government paper, short term US corporate paper?
That way I won’t get much yield but I get to benefit from the currency also?
Isn’t floating rate paper also good in times like this?
I also get that there is no other place, so the Dow will go up so I want some exposure to that also?
The commodities are bottoming in 2020 so I want to get some exposure to them also?
But how about real estate?
We as small investors don’t have any other choice but REITs, especially apartment REITs and you have talked against them, saying that they are volatile. So is it best to AVOID REITs and that way real estate all together?
Even if it is a hard asset and a inflation hedge? Also as a European it would not hurt to have some USD income?
With the taxes going up and socialists getting in to power all over I guess it is better to invest in accumulating funds instead of distributing ones?
If you could please find the time to comment on this. I know that there are lots of people asking the same questions as I am.
JP
ANSWER: We are all connected. There is no possible way for any country to move counter-trend to the whole. The European Central Bank and the Bank of Japan have destroyed their bond markets. Their stupid idea of Quantitative Easing and lowering rates to zero and negative was under their theory that people would borrow if it was cheap enough. Over the years, I have received calls from banks asking me if I wanted to borrow money. They call because we run high cash balances and have no debt. They always want to lend money to people who do not need it, but that then begs the question, what would I do with it anyway? If you have nothing in mind you want to buy then you are not interested in borrowing. Yes, there are margin loans for investors in shares. But I am talking about borrowing to expand or buy some business. That is what the Central Banks failed to grasp. If there is no CONFIDENCE in the future, you will not borrow at any rate.
The Bank of Japan could simply agree to tear up its federal bonds. That would impact its balance sheet whereas Japanese bonds are not really held outside the country. The ECB, on the other hand, has no such option for the debt it holds is of individual member states since there was never any consolidation of the debt federally. As far as the US Federal Reserve, its holding of federal debt is under 20% of the $22 trillion and 30% of the debt is held by foreign governments with 28% held by interagency. The US could not be saved if the Fed tore up its bonds. It is not enough.
The pension funds are also linked to government debt. Defaulting on government debt would wipe out all pension funds. The interconnectivity is not considered by so many who summarily assume we can just tear it all up.
Rates will rise to start 2020/2021 as the general public begins to see there is trouble in the wind. The Bank of Japan and the ECB have already destroyed their bond markets and there will be no going back. There will be no buyers when they need them. This is why you need to stay short-term as a buyer of debt and if you are a borrower, then lock it in for as long as you can at a fixed rate.
This is a cycle where governments are collapsing. Clearly, stay in the private sector. Blue-Chip corporate debt SHORT-TERM is better than a government. Even during the Great Depression, AAA corporate debt appreciated. The spread above US Treasury dropped from about 1.3% to 0.5% and the US was the safe haven back then as well. It was Europe which defaulted along with South America and Asia.
Real Estate is not a movable asset so it can be taxed and you cannot leave. They will raise taxes dramatically trying to survive. But governments cannot avoid their collapse for nobody is willing to step up and take decisions for the long-term.
Equities are liquid. This is going to be a game between value and liquidity. Remember! The City of Detroit suspended all debt in 1937. They resumed and paid it off with cheaper dollars in 1963. So they claim they never defaulted. Liquidity is also a top priorit
QUESTION: Mr. Armstrong, you said that that AOC won for the same reason that Trump won, just vote against the incumbent. Do you see her being elected again in 2020?
PL
ANSWER: If you look at the numbers of the 14th district there in New York, you can see what I have been talking about. Joe Crowley won 147,587 votes in 2016, which was 74.80% of the total votes. Alexandria Ocasio-Cortez won only 100,044 votes, which was 78% of the total vote, while Crowley won only 8,505 votes. This is why she was called the lion slayer. It reflected that people are fed up with incumbents.
Nonetheless, she was elected with almost 33% fewer votes than Crowley in 2016. That reflects the difference between a presidential year election and a midterm. The highest voter turnout was the 2004 United States presidential election which was Bush v Kerry. The lowest (186,688) turnout was the midterm election in the middle of Democratic President Barack Obama’s second term (50,352). Clearly, her election was a bounce and not a breakout toward a new trend.
It appears that the Democratic vote in the stronghold is declining sharply. That does not mean the Republicans will become the victor. It appears that the Democratic number of votes will make a new low for the 2024 election and this is more likely than not pointing to an independent.
One of the secret tools government pulls is to deny the people the right to vote on key issues they want that are often cloaked in backroom deals. Seattle is a great example of how the local government pulls every trick in the book to hide the truth about what they are really up to. The Seattle Mayor has been caught outright hiding the details of a proposal to allow homeless people to take over public parking lots.
Meanwhile in Illinois, one politician wants all politicians to wear body cameras so people will see the backroom negotiations that are filling the swamp. While this proposal sounds like a good idea, there is nothing to stop them from meeting on personal time to take the under-the-table bribes. Even in Florida, a town on the shore suddenly found politicians voting for a major hotel when the people never wanted it. The political chaos and hints of corruption have filled the air that politicians were just paid off to vote against the people in Madeira Beach.
Trying to prove corruption and bribes is difficult. Government knows how to protect itself very well. This merely begs the question, how much longer will the people put up with this treatment? It is starting to look as if 2021 may be the spark that really ignites a major shift in trend following the US Presidential Election in 2020.
The leader of the British Labour Party, Jeremy Corbyn, is desperately trying to prevent the Labour Party from fracturing and splitting into two parties. Most Labour Party members want a second referendum in the hope that the people would vote to Remain this time around. Many Labour members remain under the impression that the policy agreed at a conference last year was that the party would support a second referendum if it could not force a general election. However, that policy maintained that as “a public vote” was one of the options that had to remain on the table.
Instead of moving that option to the forefront, Corbyn has abandoned that posture and asked for a permanent customs union – one “that includes a UK say on future EU trade deals.” This means that Labour is proposing a new permanent customs union with the European Union (EU) after Brexit which would allow the UK “a say” in future trade deals. Britain never wins any trade deal anyway and it has witnessed nothing but a declining economic trend ever since it joined the EU.
Anyone who would bother to look at trade would immediately see that the EU needs the UK. The biggest market for Germany to sell cars is the UK since it maintains the old-world mercantilist economic model. That means that the UK has a better consumer market that supports Europe – not the other way around. Belgium and the Netherlands have a higher per capita income compared to Britain which is significantly higher than that of Germany. Remaining in the customs union would be a disaster. The UK could not negotiate its own deal with the USA for France would be able to veto it from the start.
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!
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