Yep, same story, same players… absolutely nothing learned from last time. Thank you, Ben-Shalom Bernanke. “Shadow banks” have a greater exposure… but that’s about it. “Good jobs” coming back? I don’t think so. Story of one particular factory. Susceptibility to cancer? Diet. Spectacular growth in the U.S. between 1870 and 1913 – and all with no central bank! Some mind-numbing statistics. Official lying about employment statistics. Hillary Clinton: Warmonger Extraordinaire. The irrefutable evidence is on the table. Elect her at your peril.
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Continuing from Monday’s story on experts, Greenspan appeared on the scene, a wily, sly individual with a knack for political intrigue but no economic sense whatsoever. He conjured up immense power and misplaced prestige for himself but left the country in tatters with the worst crisis since the Great Depression. Rigging the elections. The pension fund crisis is growing alarmingly. Startup businesses continue to slide. The suburbs are the new poverty traps. Germany wants to stop production of all diesel and gasoline-powered engines in 2030. Britain’s place in ‘Europe’. Poverty in the European Union.
The incomprehensible nature of the national debt brought to light by analogy. The country is bankrupt. Why it matters. History of the grand theft from the people by the U.S. government and how it was made possible. More on Obamacare which is out of control and spiraling into oblivion. Clinton wants to double down! A recap and comment on the TPP (Trans-Pacific Partnership). The effect of sudden, unexpected wealth on people who are unprepared to deal with it. Cass Freight shipments sink even further, portending a grim Christmas season and third quarter.
At all levels debt is terminal unless excised. The fatal error of Britain declaring war against Germany in 1914 finished it off and imminent war declared by the U.S. will do the same. Increasing debt for consumption achieves nothing. Poor, sad America! It didn’t have to be this way. Industrial production continues to collapse. Consumers are maxed out. Didn’t anyone get the message? Obamacare spiraling down into oblivion. Some fascinating information about ‘happiness’. The real horror that awaits a (nuclear-free) world. The downside to the technology revolution. The grim destiny of Europe: comments by its founder. Dallas police and firefighters are quitting and grabbing lump-sum pension payments while there’s still money in the kitty.
Americans are dumbed-down by government-led education to believe anything they’re told. The media is simply the mouthpiece of the government. Economists encourage the people to believe all is well, knowing perfectly well it is a lie. Those ‘not-in-the-labor-force’ will decide the election. Don Quixote and Mario Draghi: birds of a feather. Both completely delusional. The dangers and pitfalls of ‘multitasking’. Debt levels continue to rise astronomically. And it hardly receives a mention in the media! Auto sales have reached a plateau. More on the Wells Fargo saga. Total debt in the U.S. is 350% of GDP. We just saw the biggest annual increase in history.
The grim story of a conspiracy to hide the facts and blame the Russians. The best account so far. Corruption of the process to elect a president. How to find a place in another country to call ‘home’. A word about the American Dream. U.S. personal savings are again declining.
America’s empire of debt and how it has brought down world economies. A wake-up call from no less than the Financial Times. Exercise caution when investing overseas. The fate of cash worldwide. The precarious state of the restaurant industry. The international property price bubble. The Wells Fargo situation is not isolated. What happens to Goldman Sachs ex-employees. Do not start a business today. It is almost certain to fail. Be patient. Wait for a better opportunity. What would the founding fathers think of the way the U.S. is run today? Ultra-low interest rates do not create wealth. The evolution of the European Union.
Stupidity in the workplace. A study reveals the idiocies that happen daily in companies big and small. Most of you will recognize the story. Governments are actively working to make banks unsafe. They’ve learned nothing from 2008. They practically encourage fraud – all to keep profits humming. $4 trillion disappeared. Where did it go? Nobody knows. Automation is the real jobs killer, not robotics. And there really is no solution in sight.
Other examples of banking fraud in addition to Wells Fargo. Their stories are almost as shocking and just as fraudulent. More on the European banking crisis. Germany and its two largest banks are in the spotlight. Updating the saga of the Wells Fargo scandal. A quick recap of the economic situation in the country at the end of the third quarter shows ongoing and increased degradation. How economists view finance and the legacy of Greenspan. Truck sales, an excellent yardstick of the economy, fell 29 percent from the same period in 2015.