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11 Quotes From Trump’s Speech To Congress That Show That The U.S. Economy Is In A State Of Collapse

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Donald Trump's Speech To A Joint Session Of Congress - Public DomainAfter Tuesday night, nobody should have any more doubt that the U.S. economy has been in the process of collapsing.  Donald Trump’s speech to a joint session of Congress is being hailed as his best speech ever.  Even CNN’s Van Jones praised Trump, which shocked many observers.  Jones said that when Trump honored the widow of slain Navy Seal Ryan Owens that it “was one of the most extraordinary moments you have ever seen in American politics”, and Jones believes that Trump “became President of the United States in that moment”.  But Trump’s speech is not just being praised for that one moment.  He detailed many of the most important problems that our nation is facing, and he explained his prescription for addressing those problems.

Hopefully Trump’s words helped people to understand that our problems did not get fixed just because he got elected.  It is going to take extraordinary action to fix those problems, because our problems run very deep.  In particular, Trump made an exceedingly strong case that the U.S. economy has been badly deteriorating for a very long period of time.  The following are 11 quotes from Trump’s speech to Congress that show that the U.S. economy is in a state of collapse…

#1 “Ninety-four million Americans are out of the labor force”

#2 “Over 43 million people are now living in poverty”

#3 “Over 43 million Americans are on food stamps”

#4 “More than one in five people in their prime working years are not working”

#5 “We have the worst financial recovery in 65 years”

#6 “In the last eight years, the past administration has put on more new debt than nearly all of the other Presidents combined”

#7 “We’ve lost more than one-fourth of our manufacturing jobs since NAFTA was approved”

#8 “We’ve lost 60,000 factories since China joined the World Trade Organization in 2001”

#9 “Our trade deficit in goods with the world last year was nearly 800 billion dollars”

#10 “Obamacare premiums nationwide have increased by double and triple digits. As an example, Arizona went up 116 percent last year alone.”

#11  “We’ve spent trillions and trillions of dollars overseas, while our infrastructure at home has so badly crumbled”

All of these quotes come from the transcript of the speech that was posted on the official White House website.

So many of the economic themes that Trump touched on are things that I have been writing about recently.  For example, I recently published an article entitled “11 Deeply Alarming Facts About America’s Crumbling Infrastructure” in which I discussed the horrific state of our roads, bridges, ports, dams, water systems and airports.  I greatly applaud Trump for wanting to do something about this growing national crisis, but I just don’t know where the money is going to come from.

Just over a week ago I also wrote a major article about Obamacare.  We have zero hope of turning our economy in a positive direction until we do something to fix our dramatically failing healthcare system, but at the moment Republicans in Congress seem extremely hesitant to take action.  Instead, many Republican leaders are now talking about trying to “fix Obamacare“, and that simply is not going to work.

You can’t “fix” a steaming pile of garbage.

All of the other facts that Trump listed about the economy were right on point too.  I have been screaming for seven years about our nightmarish trade deficit and the fact that tens of thousands of businesses and millions of good paying jobs were leaving the country.  It is refreshing to finally have a president that understands how badly America has been hurt by imbalanced trade agreements, and my hope is that he will start to take constructive action in this regard.

So much damage to the economy has already been done, and there are all kinds of indications that we are about to officially slide into yet another recession.  Yesterday we learned that the number of “distressed retailers” in this country is the highest that it has been since the last recession, and in recent weeks major retailers across the nation have announced the closing of hundreds of stores.  Lending standards are tightening, bankruptcies are rising, and employment growth at companies listed on the S&P 500 has gone negative for the first time since the last recession.

It is being projected that GDP growth for the first quarter of 2017 will be barely above zero, but it wouldn’t surprise me at all if we actually had a negative reading.

If we indeed are heading into a new recession, Trump and his supporters need it to happen as soon as possible so that they can blame it on Obama.  If a recession begins a year from now, everyone will blame it on Trump even if it is not his fault.  But if a recession begins now, Trump and his supporters can pin responsibility for it on Obama and then take credit if and when a recovery occurs.

Trump’s speech on Tuesday night was very optimistic, and he seemed quite confident that every issue that we are facing as a nation can be fixed

Everything that is broken in our country can be fixed. Every problem can be solved. And every hurting family can find healing and hope.

I hope that Trump is right, but I also know that the federal government is already 20 trillion dollars in debt, U.S. consumers are already more than 12 trillion dollars in debt, and corporate debt has approximately doubled since the last financial crisis.

You can’t squeeze blood out of an apple, and you can’t get out of a debt bubble by going into a lot more debt.

I understand that there are so many people out there right now that are deeply optimistic about the future, but the truth is that we have no hope of a positive future unless we fundamentally change our ways as a nation.  I wish that someone could show me evidence that this is happening, because I would be very glad to see it.  As it stands, we continue to steamroll toward the kind of apocalyptic future for this country that I have been warning about for a very long time.

It will take a lot more than words to fix America, and I think that Donald Trump understands this.

Hopefully many of his followers will start to get the message as well.

  • Cinderella Man

    Shocking!! We actually have a president who tells the truth. As I was listening to the speech last night and when President Trump was firing off those numbers I could have sworn he is reading your articles Michael. It was such a powerful and uplifting speech. Stark contrast to Barry’s attempts to speechify and ramble. Its gonna be a tough road but nothing great comes easy. Thank God the right man is in charge!! MAGA

    • William Lutz

      You and millions of other people have been duped into believing the MAGA slogan. Well, I’m not buying it. It ain’t going to happen! He hasn’t even started on draining the swamp and here he is doing all kinds of talk and negotiating. Let’s not mention the total debt of the entire US is tens of trillions in debt. You simply have too much faith in POrangeTUS, and you are delusional rather than realistic.

      • Cinderella Man

        You my friend should have been swallowed

        • William Lutz

          What are you talking about?

          • Cinderella Man

            Really? For someone who thinks they are such an enlightened smart liberal you aren’t working with much…let’s just say it involved your mom and dad

          • William Lutz

            Yes I’m progressive in a way. I’m an anti establishment and anti globalist leftist who is dissatisfied with the annoying orange.

          • aldownunder

            Don’t forget muzzie
            you oxygen thief

          • energizedmortal

            It means “too bad you entered the womb and not the mouth”. Shame on the person that made that comment. Love always wins.

          • Cinderella Man

            Not with me…

          • energizedmortal

            Good luck, I have seen people lose their lives for making comments like that. May the sun brighten your days.

          • Cinderella Man

            Well good luck to the fool that tries to take my life

          • Jorma

            Well I was going to say that this reference was tasteless but…

            I’ll stop.

      • Max Powers

        I believe in “Make America Goldman Sachs Again”!!!!!

    • K2

      Dont be so sure that a ‘collapse” will come. People have been predicting collapse will come in 2011, and then again in 2012, and in 2013, in 2014, 2015 and then again in 2016. Now they are predicting it will come this year. And if it wont come this year…they will say it will come next year!

      The US is in debt true…but so are all other countries. This is a debt based global economy and countries are surviving debt by paying off interest on the debt. If debt comes due they are simply taking new debt to pay off the old debt.

      • socalbeachdude

        Interest rates have been SOARING UP since July 2016 and that is what will crash the bubbles.

        • K2

          And they will soar down again. Didnt we talk about this already.

  • bill smith

    Micheal, I guess with all your reporting you have missed the bigger picture. There has been no repentance in America! God does nothing unless he tells his Prophets first! Seems we need to start praying for our families and friends,because america has been under judgement,and God is turning up the heat. Chaos is going to sky rocket in the days to come. REPENT.

    • socalbeachdude

      Repent for what? Absurd profligate spending?

    • William Lutz

      Spot on! We need to evaluate ourselves and come to terms with all the abominations we have committed.

      Is there hope for America when many people can’t even get along with each other? Today I witnessed a driver being cussed by a young lunatic for simply asking for directions.

      Is a nation rampant with entertainment filth a promising nation?

      Can a country ever be great if people don’t conduct themselves in a civilized manner? Eg. sagging pants and ghetto language.

      Is America great when millions upon millions of babies have been massively slaughtered by PP at taxpayer expense?

      How can America be great if we are polluting our environment with chemicals, GMOs, trash and litter? Look at the Pacific Ocean Garbage Patch.

      Is a nation with too much technology and consumerism pleasing God?

      Does a society with high statistics of obesity and STDs make a great country?

      Is a country with many people who can’t read above elementary level or who don’t know their roots a great nation?

      Food for thought.

      • ALWAYSTOMORROW

        Chemicals, GMO’s, pesticides and herbicides are our friends. Long live Monsanto, Syngenta, Bayer, Nufarm, and BASF.

        • Guest

          You are absolutely insane. Monsanto is the most evil company in the world. And glyphosate is poison! It is destroying the planet.

          • JC Teecher

            Speaking of glyphosate/Roundup, it has been found in many many vaccination/immunization drugs.

            I was going to get immunization against Hep A & B, because of contact with my grandchildren, just as a precaution for their sakes; until I read about testing of the USA vaccines in Europe, where big US Pharma has no “control” over hiding of their illegal activities and doing the bidding of the deep state/shadow gov along with Big Pharma here.

            What this testing lab found was astounding; as glyphosate was found in a large percentage of vaccines/immunizations, including The Hep A & B.

            Did you know that infants/toddlers/children are given some of these vaccines?
            They are being poisoned by the very drugs that are supposed to be protecting them. In some cases the kids come down with cancer, suffer and die, by the ignorance of their very own parents.
            What a shame, disgrace, and downright sinful state of affairs this nation has become.

      • Max Powers

        Can’t forget endless wars to overthrow countries that we’re doing just fine(Libya,Iraq)until we came in and bombed the hell out of them for regime change and to throw in a puppet government, all in the name of democracy even though are country isn’t a democracy but was always a constitutional republic!

      • tomtombeat

        Don’t forget the pitiful sorry state of America’s infrastructure. How can America be great when its infrastructure resembles Third World countries? In and around NYC and New Jersey, the roads, bridges, tunnels, highways are so run down and ancient, it’s downright frightening to be on them.

        • William Lutz

          Thanks! I forgot to mention that. I know, it’s also a shame that we can’t come close to fixing our declining infrastructure. However, the federal government has no business funding or rebuilding infrastructure. That should be left to property owners, local governments and businesses. Unfortunately, no one has enough money or resources to do that.

    • Guest

      He has written about it on his other blog, End Of The American Dream.

    • SnodtBlossom

      there is no god

      • BelowZero88

        sure there is, its name is socalbeachdude. Small “g” though. ahahahahahahah!

  • Jorma

    Nothing was mentioned in the speech about the 15 March hard date where the federal debt ceiling becomes fixed (according to David Stockmans recent interview) either.

    Talk about an inflection point and this wasn’t even addressed.

    • socalbeachdude

      Indeed.

      • BelowZero88

        Indeed. The worlds 1 job site. Indeed how the world works. Bahahahahahaha!!!!!!

    • Guest

      He wrote about it in a recent article.

    • JC Teecher

      Neither was the ‘almost’ certain increase in the interest rate from the FR for March. Which is just another smoke screen of the faltering financial situation of USA.

  • socalbeachdude

    Yep, Michael. Great catch! A+++

  • socalbeachdude

    Hopium To the Moonl: STOCKS RISE AND RISE AND RISE…

    http://www.cnbc.com/2017/03/01/us-markets.html

  • socalbeachdude
  • RandPaul

    But…But…MSNBC said it is all lies. The economy is great…Rachel Maddow said so…

    • socalbeachdude

      That poor stupid ugly lesbo snowflake…

      • Stuey

        There you go with the “lesbo” comments again. You freakin HATER and homophobe.

        • socalbeachdude

          I doubt if you’ll get much sympathy here for that particular point of view!

          • Stuey

            So you are saying since the majority of people agree with your homophobic hate filled comments that is okay to make them? Wow, being from CA i thought your mind would be much more advanced than that.

    • tsf

      Let us not make fun of Rachel Mad-dog.

  • socalbeachdude
    • RandPaul

      Were these all the ones on Food Stamps?? LOL

      • socalbeachdude

        Not likely as most of those were quite likely out using their SNAP EBT (food stamps) cards at Joe’s Bar & Strip Joint…

        • RandPaul

          LOL…here in Oregon..13,000 withdrawals at the Casino with EBT card…Can you believe that? Here you are allowed 60% CASH.

          • socalbeachdude

            Just amazing the brazen abuse, isn’t it?

          • RandPaul

            Yep…I own an Electronics store…and people buy car stereos with their food stamp card.

    • Cinderella Man

      How do you always take over the thread? I posted first…smh

      • SnodtBlossom

        He has brains.. unlike you

        • Cinderella Man

          Let’s see 30 out of the almost 60 comments socalbeachdude…nope not brains just ego and loving to hear himself talk

          • Guest

            Yup. You may have noticed that he votes up his own comments.

          • Cinderella Man

            Yeah he’s definitely a twaat…might as well call the comment thread socalbeachdude blowhard section

          • Stuey

            Yeah, he doesn’t have brains, he jumps from one side of an issue to the other side depending his drug use for that day.

          • Max Powers

            How the crap does he manage to post articles with links up so fast when it takes everyone else hours sometimes for theirs to go through?

          • Stuey

            Hmmm………yeah, makes you wonder doesn’t it. Maybe he is on the “inside” so to speak.

          • SnodtBlossom

            hmm .. he’s a secret lover

          • Stuey

            Nope, he is a homophobe.

          • SnodtBlossom

            that i do actually wonder about

          • JC Teecher

            Being a regular poster on another prepper site for years prior to beginning commentaries here, we had a similar person, that wreaked of being on dope, more specifically an amphetamine like meth or crystal. He could not stop his back and forth and constant berating of others, with trying to prove he was always right.
            Many people left the site because of his constant bashing of God and Christians.
            The site owner refused to ban/block him, even when he threatened bodily harm to others that called him out for what he truly was.
            It was like the site owner kinda catered to him, and would allow his banter, even when the majority cried out for his banishment.

            I go back there from time to time to see if old friends are still there and sometimes give a shout to them, but the site is only a shell of what it used to be because most people that left, because of the cracker head comments, “never” came back.
            At one time it was usual to see as many as 500 to 600 comments on a single article, and once we had over 1000 comments on an article over a three day period.
            Now; the site rarely sees over 200 comments on an article, and it is more like a 50 comment average per article, with about half of those coming from the same persons.

          • Cinderella Man

            He is a narcissistic idiot I’m sick of his drivel…perhaps I shall troll him like I do to Twaatblossom

          • Jerry C

            Block him. All I see now is “This user is blocked” but everyone else’s comments. Peaceful.

          • aldownunder

            No I think your talking about William Putz

          • socalbeachdude

            Why make such bogus and defamatory remarks which are totally false?

          • Stuey

            Because it is true.

          • SnodtBlossom

            He’s also not DirtBag#1 like you are..

          • Cinderella Man

            Why haven’t you offed yourself yet? Your party is going to be small and marginlized for the next 30 years so there is absolutely no hope for you

          • SnodtBlossom

            Get a job.. I don’t want to hear you whining about car living

          • Cinderella Man

            I make more money and waaaay smarter than you beeyotch

          • socalbeachdude

            How would you know what Snod makes?

          • SnodtBlossom

            bullshiht.. I make more money than you in dividends

          • Cinderella Man

            I just sold 400 head of cattle last week I could own you fake engineer

          • SnodtBlossom

            at least he’s not an anonymous coward like you w/o a handle/screenname

          • Guest

            That’s utterly stupid. That’s not his real name, so he is anonymous. Are you that dumb? You have an appropriate username because you’re as dumb as snot!

          • Cinderella Man

            She’s Twaatblossom socals girlfriend

          • socalbeachdude

            So what?

          • Cinderella Man

            So what you’re an egotistical blowhard who acts like people like to read your drivel…you say some good stuff from time to time but the way you take over a comment thread shows your insecurities and your constant need for attention

          • socalbeachdude

            And just how is your nonsense that amounts to nothing more than ad hominem attacks helpful to anyone versus the very useful information that I post?

          • SnodtBlossom

            You are jealous of his intelligence.

          • Cinderella Man

            Ok socal

          • SnodtBlossom

            the high quality of mike’s posters causes an average of 5 upvotes per blog

          • Guest

            No, up votes have fallen because trolls like YOU have overtaken the comments section of this site.

          • CASTIEL

            And dont forget the three little piggies always upvoting his crap…

    • ALWAYSTOMORROW

      “Charlie bit my finger – again !” 847 MILLION VIEWERS.

      • socalbeachdude

        Huh? Where do you come up with that number?

  • socalbeachdude
  • socalbeachdude

    MEX CEMENT COMPANY WILL ‘GLADLY’ HELP BUILD THE BORDER WALL…

    http://www.nbcnews.com/news/latino/mexico-s-cemex-willing-provide-cement-border-wall-n727666

    • BelowZero88

      Fake news trash

    • juanisaac

      In other words the USA will now pay Mexico to build the wall, great.

  • socalbeachdude

    POLL: 80% OPPOSE SANCTUARY CITIES…

    ICE raids have day laborers on edge across Southern California…

    Trump Has Vast Legal Arsenal…

    New Orders Allow More Deportations…

    https://www.bloomberg.com/politics/articles/2017-02-21/travel-ban-aside-trump-has-vast-legal-arsenal-for-immigrants

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    THE STATE OF THE UNION IN NEW YORK CITY…

    NYC plans 90 new shelters as homeless ranks swell…

    http://www.nydailynews.com/new-york/city-add-90-homeless-shelters-ditch-cluster-sites-hotels-article-1.2984785

  • Max Powers

    Where does he get the phrase heading into a new recession? We’re in a recession heading into a depression heading into a collapse.

    • socalbeachdude

      The US has been in the GRAND GLOBAL DEPRESSION since August 2007 when it first started and it is now very seriously intensifying.

      • David

        Obama kept us on life support.

        • socalbeachdude

          Obama drove the US into nearly $10 trillion more debt (nearly double) than it had when he took office in 2009 which brings the day of reckoning ever closer not to mention the massive damage he did to the US economy during those 8 years.

          • David

            yes he did. Obama had to keep borrowing & spending to keep America from Collapsing under our own debt. it cost us $10 Trillion just to avoid another Great Depression but the Game of Kick the can down the road is almost over which will have some very painful results.

          • socalbeachdude

            Absolutely false. Obama first of all didn’t control any spending as Congress is the one that authorized all of that stupid wasteful drunken sailor spending and second on all during those 8 hideous years America was put in the worst debt situation ever in the history of America.

      • tsf

        I concur. My own view is that we have been containing a depression since that time, possibly longer.

        “Noah.. how long can you tread water?”

  • socalbeachdude
  • socalbeachdude

    Car dealer’s first overflow lot in 37 years exposes US pileup

    For the first time in his 37 years working at New Jersey car dealerships, Larry Kull had to rent extra space to store unsold new Honda vehicles — one of the latest signs that the record U.S. auto market is cooling.

    Across dealer lots in America, inventory is piling up as automakers produce more cars than are being bought. Dealers had about 85 days worth of cars and trucks on hand at the beginning of February — about 22 days more than at the beginning of 2017 and eight days more than a year earlier, according to Automotive News Data Center.

    “The sales are good, I just have more product on the ground than I’ve had before,” said Kull, who has about 60 days of passenger cars including Civic compacts and Accord sedans stocked at an office parking lot down the road from his Honda store in Marlton, New Jersey. He prefers to have just 45 days worth of cars on hand.

    The buildup suggests automakers will have to cut back production or boost discounts as the market’s record growth spurt peters out. Analysts project automakers’ sales slowed this month to a seasonally adjusted annualized rate of 17.5 million light vehicles, according to a Bloomberg News survey, from 17.7 million a year earlier.

    https://www.bloomberg.com/news/articles/2017-02-28/car-dealer-s-first-overflow-lot-in-37-years-exposes-u-s-pileup

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Americans now hold over $4.1 trillion in consumer debt

    http://www.mybudget360.com/americans-hold-over-4-1-trillion-in-consumer-debt/

    • Marc

      I just want you to know that I am blocking you. For goodness sakes dude, it’s downright arrogant and selfish to make so many bloody posts.

      • Rick

        No doubt. I think he/she is a robot.

        • socalbeachdude

          Laughably false.

          • CASTIEL

            Affirmative!!!!….you are a Laughably STUPID robot.

          • socalbeachdude

            Do you even know what a robot is?

          • CASTIEL

            Yes j#ckass!!!! I know…….

      • socalbeachdude

        Your loss!

      • Marc

        Socaljackass I know you replied because all I can see is ‘this user is blocked’ . Well it could be Snot face because she is blocked as well. Bliss. Farewell my fuzzy little friend.

        • socalbeachdude

          There are many thousands more post to make as we sort out the catastrophic disaster we are now facing in America. Being an ostrich with your head in the sand is a very sad position to be in.

          • BelowZero88

            Why are you wasting your genius on a blog site with all your solutions to all of Americas problems? Please go immediately to the White House with all your bright ideas to save America and present them to Donald Trump!! Chop, Chop, no excuses, I look forward to reading about secret service throwing some deranged lunitic from California into the slammer!!!!

  • socalbeachdude

    NASTY DEMOCRAT FIRED AFTER INCREDIBLY RUDE TWEET…

    ‘You’re not helping yourself or your husband’s memory by standing there and clapping like an idiot’: Former Clinton and Obama volunteer is fired for rude tweet about the SEAL widow at Trump’s speech

    Carryn Owens, wife of William ‘Ryan’ Owens who was killed in a counterterrorism raid last month, was one of Melania’s honored guests to the speech on Tuesday. Sat next to Ivanka Trump, Owens was overcome with emotion after the president paid tribute to her husband’s sacrifice. She listened to Trump praise her ‘hero’ husband with tears streaming down her face in a touching moment during the evening address. But former Clinton and Obama volunteer Dan Grilo remained unmoved. He took to Twitter to complain that Owens was simply being used by Trump as he called for more military spending.

    http://www.dailymail.co.uk/news/article-4273546/Former-Clinton-volunteer-fired-tweet-SEAL-widow.html

    • Cinderella Man

      What’s funny is you don’t think any of us read or watch the news…oh we gotta get our information from socalbeachdude because he has no life and wishes he had his own blog

      • Stuey

        HAHA………so true!

      • socalbeachdude

        What news sources do you read or watch?

  • socalbeachdude

    EXPOSED: FBI planned to PAY the British ex-spy who wrote the dirty dossier to KEEP fishing for filth on Trump – because Democrat firm was going to stop paying him

    The FBI reached a deal just weeks before the election to pay ex-British spy Christopher Steele, who had compiled a dossier of information on alleged Donald Trump Russia ties.

    http://www.dailymail.co.uk/news/article-4271606/FBI-planned-PAY-British-ex-spy-wrote-dossier.html

  • socalbeachdude

    ‘THANK YOU!’: Trump tweets his gratitude after poll show massive support for speech – even among Democrats

    The first-term president’s joint address to Congress was a hit with most Americans. Three-quarters approved in a CBS poll. A majority said he came off as ‘presidential’ including 54 percent of Democrats.

    http://www.dailymail.co.uk/news/article-4271376/Three-quarters-Americans-say-Trump-gave-good-speech.html

    • Max Powers

      There’s articles about stupid witches around the USA that are going to be casting spells on Trump, post some of those articles.

      • socalbeachdude

        Why would anyone care about such nutzoidals?

        • Max Powers

          Because it’s funny.

          • socalbeachdude

            It’s really far more pathetic and sad than funny when it comes to that kind of stuff.

        • Max Powers

          Some of the articles you have posted here you already have them posted on previous articles.

  • Bill

    Soon, the dude will be the only dude on this blog. Or should I say narcissist….. Good points in this article but lots of “I’s” to go with it…

    • Max Powers

      Why don’t you just block him? I did, now I can have a conversation to someone on a topic without SoCal having to stick his nose in it and give his 2 cents that I never asked for in the first place.

      • Cinderella Man

        Good idea! He actually thinks people care what he writes and thinks..

        • socalbeachdude

          You certainly should as everything I post is news and information that actually matters.

          • Cinderella Man

            Yeah but you’re obnoxious I like many other read and watch the news…you act like we don’t know anything that’s going on in the world

          • socalbeachdude

            No, but that sure would describe you rather perfectly today!

          • Cinderella Man

            You’re like this every dam time I come on here…there is a backlash against you if you haven’t noticed…keep your post to the point and stop being a narcissistic ahole and posting the same crap over and over this is NOT YOUR BLOG in case you haven’t noticed…and until you can control yourself to a few posts expect me to be attacking you relentlessly

          • aldownunder

            And you are ??………The Economic Collapse Blog police I presume

          • socalbeachdude

            Apparently it neither wants to know anything or learn anything and any information that sheds light on what is going on today is highly offensive to it!

          • socalbeachdude

            Again, a comment from you, pumpkin, with absolutely zero content and filled with nothing but ad hominem attacks. Why?

          • Cinderella Man

            Because you are a goldbricking retard that loves to hear himself talk that’s why

          • tsf

            Generating more heat than light? 🙂

    • socalbeachdude

      Your loss, dude!

  • socalbeachdude

    ‘Pure exuberance’: Investor sentiment hasn’t been this high since two bubbles ago

    Forget the dot-com boom with its “irrational exuberance” and the real estate bubble that was supposed to be invincible: Current market sentiment eclipses all of that.

    In fact, bullishness has never been this high going all the way back to 1987.

    That’s through three rousing bull markets, a couple of crashes, the “Great Moderation” of the 1990s and all sorts of other history-making events. A market that was supposed to flounder this year under a new president instead has taken off, and investors are pumped.

    http://www.cnbc.com/2017/03/01/investor-sentiment-hasnt-been-this-high-since-1987.html

    • CASTIEL

      Really???? You again!!!!…..could you resume all the crap you have posted here and make only one post like a normal person? You look like a f#cking child upvoting your own posts…….

      • socalbeachdude

        That nonsense earned you a down vote!

        • BelowZero88

          Since you live in California this is what I suggest you do. Go down to the walk of fame pick your favorite star drop to your knees infront of it and suck Wayne newtons d#ck until your mouth falls off your face!

          • socalbeachdude

            Clean up your foul potty mouth.

          • BelowZero88

            wow potty mouth, I didn’t know we were in preschool.

          • SnodtBlossom

            You came out of Castiel’s hiney.

          • BelowZero88

            I’m going to call you “snort blossom” from now on since my spell checker changed it to that. Oink, Oink, LOL.

          • SnodtBlossom

            You are a Dirtbag#3 clone

          • Cinderella Man

            You and socal are either dating or are the same person…both twaats

          • SnodtBlossom

            The sheltoer isn’t going to have room when they see you coming.. better get a job

          • BelowZero88

            And You”re the “1” piece of swamp trash that lives in Dumpwater Florida.

        • CASTIEL

          I dont give a sh#t for your down vote…….

          • socalbeachdude

            I’m not. I’m civil and post intelligent comments. As to you, your comments rather speak for themselves, don’t they?

          • BelowZero88

            99.9% Copy/Paste/Upvote/Repeat, Copy/Paste/Upvote/Repeat, Copy/Paste/Upvote/Repeat. Yes, very intelligent to take someone else’s work and take credit for it by Copy/Paste/Upvote/Repeat.

          • socalbeachdude

            What utter nonsense.

          • SnodtBlossom

            Yes, Castiel is Dirtbag#3 of the board.

          • CASTIEL

            You post intelligent comments?????? ahahahhahahahahahha!!!!!!!!! You made my day…….

          • Nuthinbutnet

            I agree, man. Dude must o not got any leg, lastnight. Hmmm…

      • SnodtBlossom

        Castiel sticks his nose on this board as if he’s American and belongs here.. he is just a filthy foreigner of no particular country He’s been deported from his own homeland.

        • CASTIEL

          The only one deported is you, unless you are a native american…and I stick my nose where i want..b#tch..You are just a miserable wh#re…..

          • SnodtBlossom

            You are just a skanky foreign American wannabee.

          • CASTIEL

            American wannabe??? No thank you….You go take a few dollars from your boss in exhange of your as#….carry on you big cow!!!

    • Ricardo

      Its time that you ran your own site. Sometimes your posts here are longer than the lead article by this site owner.

      • Cinderella Man

        Ha Ha Ha! True that!

      • SnodtBlossom

        You overstretched your mommy’s taco w/your big head.

        • beyatch

          You overstretched you mommy’s taco with your big mouth.

    • BelowZero88

      CNBC is fake news this article is trash

    • Mikel Ryanson

      That’s idiotic the world wide debt is unbearable including USA debt and trump wants to increase it. Investors and the stock market are not going to save us from a global collapse.

  • Bob

    Michael:
    Why hasn’t the economy collapsed yet? You have reported how bad it has functioned for years. What keeps it afloat? Shouldn’t have collapsed years ago?

    • Spatial Memory

      Cycles of impulsivity and compulsivity yields a composite economic and civilization collapsing disorder composed of three stages—binge, withdrawal/negative affect, preoccupation/anticipation—in which impulsivity often dominates at the early stages and impulsivity combined with compulsivity dominates at the later stages. As an individual moves from impulsivity to compulsivity, a shift occurs from positive reinforcement driving the motivated behavior to negative reinforcement and automaticity driving the disorder. These three stages interacting with each other, becoming more intense, and ultimately leading to the pathological state known as collapse addiction. The transition from occasional collapse disorders to addiction involves neuroplasticity in all of these elements and may begin with initial lack of economics education in vulnerable individuals or individuals at particularly vulnerable developmental periods, e.g. capitulation levels at economic and capital markets cycle low inflection point.

      • tsf

        Got it.

        🙂

    • Ricardo Thomas (Ricki13th)

      The real economy has not grow over 3% in almost a decade. We never left the great recession of 2008. The only reason why this has been afloat is because interest rates have been surpressed and we have been borrowing and printing money to stimulate the economy. However, inflation is raising once again and interest rates are rising once again (Even if the Fed don’t hike, interest rates will raise naturally as inflation goes up) those we can no longer service the debt by paying the interest on the debt. Same situation for people who are swimming in debt. Interest rates raising will cause folks to default on their loans. This will be the catalyst for a economic collapse.

      • socalbeachdude

        No money has been “printed” to stimulate the US economy at all, but that has been a vast amount of leveraged borrowing going on and debt is now in excess of $64 trillion in the US. The Federal Reserve, however, does not set any interest rates that matter in the US economy and only sets 3 interest rates at all. All interest rates that do matter in the US economy are set off the yields in the US Treasury bond markets and they are rising.

    • tsf

      Because our downturns are not purely cyclical. Some hold to long wave theory, while others insist it’s unique events which determine such downturns.

      I believe it’s a combination of both, kind of like great freedom on a long leash. A very long leash.

      The freedom is human ingenuity, and sound (and not so sound) practices of capitalism. The freedom involves proactive government action, or reaction, and sometimes even inaction. That freedom includes voodoo economics, cooking the books, hirelings for economists, and other manipulative tricks to hide the real state of things.

      The leash is the law of diminishing returns, and the restraints of Cause & Effect. In other words, sooner or later someone has to pay the piper.

      (Unless there’s some mass, global debt forgiveness program we don’t know about. But don’t count on it.:-)

      • Richard O. Mann

        We are just waiting for that last straw to break the camel’s back.

        • socalbeachdude

          That straw will be in China.

          • tsf

            I’m glad you clarified that. For a moment I thought the trigger was the Middle East, since it’s a camel’s back about to be broken. (Couldn’t resist.:-)

  • XSANDIEGOCA

    Ask not what your country can do for you. Ask what you can do for your country.

    • socalbeachdude

      Americans can SOLVE THIS FISCAL CRISIS THEMSELVES without Congress or the White House doing anything. All they need to do is to pull out their wallets and VOLUNTARILY CONTRIBUTE TO THE USE TREASURY. and if all Americans pitch in and GIVE UNTIL IT HURTS within a few days we can have our government back up and running and flush with cash again!!!

      Government – Gift Contributions to Reduce Debt … – Treasury Direct
      Gift Contributions to Reduce Debt Held by the Public

      The Bureau of the Public Debt may accept gifts donated to the United States Government to reduce debt held by the public. Acting for the Secretary of the Treasury, Public Debt may accept a gift of:

      Money, made only on the condition that it be used to reduce debt held by the public.
      An outstanding government obligation, made only on the condition that the obligation be retired and the redemption proceeds used to reduce debt held by the public.
      Other intangible personal property made only on the condition that the property is sold and the proceeds from the sale used to reduce the public debt.

      Gifts to reduce debt held by the public may be inter vivos gifts or testamentary bequests.

      http://www.treasurydirect.gov/govt/reports/pd/gift/gift.htm

      YES WE CAN FUND OUR AMERICAN GOVERNMENT!!! GIVE UNTIL IT HURTS!!!

      • Cinderella Man

        Shut up no one cares

        • socalbeachdude

          If you have nothing of any substance to say then why are putting up comments that are nothing but snide remarks? Just how is that helpful to anyone?

          • Cinderella Man

            I’m gonna troll you bud until you only post ONE COMMENT per page

          • socalbeachdude

            When are you going to turn into a pumpkin, Cinderella? And thank you for admitting you are not posting any useful comments but just trolling. Pitiful.

          • aldownunder

            Very good

          • socalbeachdude

            Thank you, aldo!

          • Cinderella Man

            Wow why don’t you two get married?

          • aldownunder

            Really……….grow up pumkin head

          • Cinderella Man

            Really…go hug a koala sorry a dingo ate your baby

          • aldownunder

            William Putz ate you

          • Cinderella Man

            Kinda weak Al….

          • aldownunder

            Yeah I’ll cop that (lame)

          • tsf

            lol.

          • Cinderella Man

            Trolling you and Twaatblossom…oh wait you guys are the same person ha!

          • Jerry C

            TwaatDude, SocialTwaat. Take your pick.

          • tsf

            lol

      • BelowZero88

        This paragraph cements the fact your mentally insane!! You need to be put in one of those fun camps Hillary mentioned during her run. People like you are extremely dangerous.

        • socalbeachdude

          That apparently would describe YOU.

          • BelowZero88

            Communist!!!!

          • socalbeachdude

            Huh?

          • BelowZero88

            Read between the lines!!! Do I need to paint you a picture or maybe you need Braille since your blind!

  • Spatial Memory

    When the only tool in the tool kit is an economy and civilization collapse hammer, then any 11 comments appear as “state of collapse” nails. Juxtaposed to the unprecedented gains in key capital markets indicies and incredible benefits to “state of recovery” participants, the parody

  • Richard O. Mann

    I have the same question. Where will the money come from? 20 trillion in debt. The amount of money needed to fix infrastructure, unknown. I doubt anyone has a handle on just how bad it is. Still have the rest of the world not looking too good either. Hope is good. But, it don’t feed the kids.

    • Spatial Memory

      Search Wikipedia

      Kondratiev wave
      This article is about a phenomenon in economics. For the neologism, see Korean Wave.
      Economic cycle.svg Proposed Economic Waves
      Cycle/Wave Name Period (years)
      Kitchin cycle (inventory, e.g. pork cycle) 3–5
      Juglar cycle (fixed investment) 7–11
      Kuznets swing (infrastructural investment) 15–25
      Kondratiev wave (technological basis) 45–60
      This box: view talk edit

      A rough schematic drawing showing growth cycles in the world economy over time according to the Kondratiev theory
      In economics, Kondratiev waves (also called supercycles, great surges, long waves, K-waves or the long economic cycle) are proposed cycle-like phenomena in the modern world economy.[1]

      It is stated that the period of a wave ranges from forty to sixty years, the cycles consist of alternating intervals between high sectoral growth and intervals of relatively slow growth.[2]

    • df NJ

      Raise taxes to FDR rates.

      • socalbeachdude

        That certainly is one possibility open to Congress!

  • Betty

    Audit the fed. They cause all our economic problems and rob us through inflation. They print our fiat money and charge us interest. Privately owned and we can’t purchase shares. Rothchild and his friends are America’s enemies.

    • JC Teecher

      At this point in time, Betty; we can only fix the Fed (reserve/rothschild) banking scheme/con game, by removing ourselves, individually, from participation….aka staying debt free.

      • socalbeachdude

        The Federal Reserve does not create any debt.

        • BelowZero88

          LOL, ROTFLMAO, SMFH.

          • socalbeachdude

            And just what debt do you “think” the Federal Reserve creates? Have you ever read its balance sheet? The Federal Reserve owes no outstanding debt at all.

            http://www.FederalReserve.gov

          • BelowZero88

            LOL. I’m going to believe what the federal reserve tells me by their website! Moron!

          • socalbeachdude

            The Federal Reserve is fully transparent about everything and annually releases fully independently audited financial statements which are available for you and everyone else to read and review and which run around 500 highly detailed pages every year.

          • BelowZero88

            You keep telling yourself that “Sheeple”

          • socalbeachdude

            Why don’t you start learning the actual facts regarding the Federal Reserve?

            http://www.FederalReserve.gov

          • BelowZero88

            Find a better link or Two! I’m not believing that website where they can twist the numbers to whatever specifications they want you to believe. I can’t wait till Rand Paul’s bill passes under Trump to “really”audit the fed! That will be a LOL moment when they find no gold or anything.

          • socalbeachdude

            The Federal Reserve is the single largest revenue source for the US government as it rebates 94% of its annual profits to the US Treasury and its taxpayers each year.

            That now amounts to nearly $100 billion of revenue each year for the US government making its $2.5 trillion of holdings in US Treasuries TOTALLY INTEREST FREE. The Federal Reserve does not cost the US Treasury or its taxpayers a single penny to operate.

            There is zero chance that inane piece of proposed legislation by Rand Paul will get any support at all let alone have any chance of passing.

      • Jerry C

        I grew up Amish. The Amish believe they can live separately from the rest of the world too. Wrong. The testicles of this behemoth Octopus stretches far, wide & deep.

    • socalbeachdude

      Each and every year, as has been the case for 100 years, the Federal Reserve issues FULLY INDEPENDENTLY AUDITED Annual Financial Statements which are extremely detailed and run around 500 pages each year. They are fully publicly available for you and anyone else who is interested in them to fully read and review at::

      http://www.federalreserve.gov/publications/annual-report/

      The Federal Reserve does not cost the US government and taxpayers a single penny and in facts is the LARGEST SINGLE PAYER OF REVENUES TO THE US GOVERNMENT each year.

  • Spatial Memory

    Volume reversal test ahead 🙂
    85% retrace yesterday accumulation day

  • Priszilla

    Well, a lot of those trillions of dollars burned overseas were in the form of bombs, missiles and fuel in a number of wars.

    • Here is the huge money burning pit.

      August 16, 2016 Pentagon Cannot Account For $6.5 Trillion Dollars

      A new Department of Defense Inspector General’s report, released last week, has left Americans stunned at the jaw-dropping lack of accountability and oversight.

      http://www.globalresearch.ca/pentagon-cannot-account-for-6-5-trillion-dollars/5541244

      • socalbeachdude

        The Pentagon never had $6.5 trillion to account for as its annual budget is only around $640 billion and is 16% of the annual $4 trillion federal government spending and that article is disinfo.

        • BelowZero88

          Sure they did that’s why the globalists tomahawk missled the pentagon and destroyed the records. Next day after 9/11 no one cared where the money went because everyone was all eyes on the worst attack on American soil since Pearl Harbor which ushered in the era of fighting the boogeyman of global terrorism.

    • socalbeachdude

      Military spending by the US only accounts for 16% of the annual federal budget whereas social spending accounts for more than 63% of the federal government budget.

      • Priszilla

        Germany spends less than 2% on military and more than 10% on education.

        If America used the same rate you’d spend 16% on military, 63% on food stamps and 80% on education. LOL

  • Priszilla

    UK and US have a huge trade deficit, while Germany and China hace a surplus. Why would that be?

    • socalbeachdude

      Isn’t that obvious? Both German and Chinese goods are highly desirable and purchased in far greater quantities and value around the world than UK and US goods.

  • JC Teecher

    As Michael laid out the 11 Trump quotes from his speech Tuesday night, I began to see something very evident with regards to a turn of history, and not necessarily a turn for the better.
    Not that I am trying to be a “Donald Downer” or pessimistic about the future, because; I am very optimistic about my future, and other true, Kingdom seeking Christians. It is just another turning point in time of which we should be aware of, and adjust accordingly.

    Thanks to Michael and Meranda, we can see the writing on the Wall, and if people don’t make preparations accordingly, they may be in for serious hardships ahead.
    Speaking of the Wall; I was reminded of Hal Lindsey, who speaks of Watchmen on the Wall, regularly. Although I am not a follower of his doctrines, or any man for that matter, I do enjoy some of his reporting of International News.
    Anyways he wrote, “The Late Great planet Earth” and spoke of the decade of the 80’s and major changes coming to America and the World. To sell books and recruit believers he also spoke of a possible rapture for 1988, being a full 40 year generation since the rebirth of the Fig Tree/nation of Israel. i never bought either of those ideas, nor his book.
    But; he was right about the change of America. Who was elected in November 1980? Who was his vice potus, whom we know now was probably involved with the killing of JFK, has brought about the likes of the Clintons/Bush agenda of NWO, and the full out importation of Islamic leadership and position of power within america, via the Muslim Brotherhood…..Obama!
    What warning sign was given for the coming destruction within in May 1980? Mt St Helens.
    What took the USA by storm in the 80’s, and is still a controlling evil force today? Drugs imported from south America & Mexico.
    Who was at the center of those drugs coming in, and spoke out continually about eradicating the drug cartels and importation for the past 36 years, but we now know was just a facade?
    who has worked overtime to further eliminate the middle class for the past 36 years?
    And BTW, what leftist News organization got it’s start in June 1980? CNN, which has just finally been seen as a pro Hillary/Obama organization, and anti-Christian, anti-Trump pawn.

    There are many more events and chain of events that have gotten us to this point in time, but too little time and space to talk about here.
    As, Michael has been warning about, we are now entering a new period of escalation of events, that do not bode well for getting out of this mess with any sensibility or organization.
    The rise in the Dow, S & P, and Nasdaq, is just a facade to create optimism, to cause people to dump large amounts…Trillions, into a smoke screen of safety, and profits of overvalued Corporations.
    If the Markets crash in a short period, who looses all that $$$$?
    It will not be the Companies loosing all those funds, in the long term. It will be investors through 401Ks and the like.
    What good does it do a man to gain the world, and then lose his soul?

  • I tend to agree with this article. March 2, 2017 As global currencies roil in turmoil, Bitcoin has now officially reached parity with the price of gold

    After shifting Westward since the beginning of the year, when Bitcoin’s price movements were primarily tied to Chinese influence, the crypto-currency has not only reached a new all-time high on March 2, but it has also achieved parity with the current price of gold.

    http://www.thedailyeconomist.com/2017/03/as-global-currencies-roil-in-turmoil.html

    • socalbeachdude

      There is no such thing as “parity price” in relationship to BitCON and metals prices. BitCON is a tiny little $8 billion SPECULATIVE COMMODITY that is essentially worthless. Neither its nominal price nor that of gold have anything to do with anything and both are huge bubbles.

  • Rick

    Ya da ya da ya da… Rehash, rehash, rehash… None of the 11 points are new things. So again, what’s your solutions?

    • Jerry C

      Get saved. Nothing else really matters.

  • Stuey

    Socalbeach drughead dude………quit spamming the comments section with all your crap…….why don’t you go start your own blog if you want to post articles so bad.

    • socalbeachdude

      I’d suggest you start learning from what I post rather than babbling on about absolutely nothing and making false, defamatory, and disparaging remarks.

  • chris

    I think i may start posting huge numbers of comments and then vote up each one of them myself, as if i have some sort of inferiority complex…….

  • socalbeachdude

    WATCH OUT BELOW…

    Mom and pop investors are behind this historic market rally

    https://www.bloomberg.com/news/articles/2017-02-28/bullish-mom-and-pop-behind-u-s-stock-market-rifling-off-records

    • chris

      Look, you post some interesting stuff, sometimes, but stop this self-congratulatory back slapping/self applause. Please.

      • socalbeachdude

        Huh?

        • BelowZero88

          What? Upvote.

          • socalbeachdude

            As always for excellent comments!

          • BelowZero88

            Nope. Not when their your own.

        • Cinderella Man

          Obnoxious

          • socalbeachdude

            Yes, you certainly are these days!

  • socalbeachdude

    The “Everything Bubble”

    That is what economist John Hussman calls it. Here is the chart he uses, which includes most of the major categories of the S&P 500 index. It doesn’t include the rise this year, which has now brought the market to the edge of a “Super Bubble.”

    http://bertdohmen.com/the-everything-bubble/?utm_source=BD&utm_campaign=The_Everything_Bubble&cmp=1&utm_medium=HTMLEmail

    • Cinderella Man

      Blah blah blah

  • socalbeachdude

    The US trade deficit is now rapidly worsening as exports are plunging and imports are rising dramatically.

    • Cinderella Man

      No one is listening

      • socalbeachdude

        Apparently you are or you wouldn’t have made that particular comment!

  • socalbeachdude

    Hedge Funds Continue to Chase the Herd With Record Momentum Bets

    Hedge funds can’t get enough of momentum — even if it means embracing an investing strategy they hate.

    Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, hedge funds are the most reliant on momentum strategies since at least 2010, according to an Evercore ISI analysis of 13F filings with the Securities and Exchange Commission. Meanwhile, they’ve reduced their bearish bet on value stocks, which are priced at deep discounts to earnings and assets, for the first time in nine quarters, the study shows.

    Investors rarely take on momentum and value positions at the same time, which is what’s happening now.

    https://www.bloomberg.com/news/articles/2017-02-21/hedge-funds-continue-to-chase-the-herd-in-record-momentum-wager

    • Cinderella Man

      No one cares

      • socalbeachdude

        You may not, but other people certainly do and this is a primary reason why stocks are in such a preposterous bubble along with moms and pops pouring in to get on the band wagon – which is always the last signs of a bubble top.

  • Gay Veteran

    high cost of “healthcare”?

    apply antitrust law and consumer protection laws to the entire medical industry and you will see prices drop by well over 50%

    those laws are on the books NOW, Trump does not need new legislation.
    will he enforce the law? time is growing short before medical costs destroy the Federal budget

    • socalbeachdude

      100% correct and applying federal Anti-Trust laws against hospital and pharmaceutical corporations who are egregiously PRICE GOUGING would be very helpful in getting down the cost of medical expenses.

  • socalbeachdude
  • socalbeachdude

    Trump boasts about the stock market again as the Dow closes above 21,000 for the first time and the consumer confidence index hits a 15-year high

    ‘Since November 8th, Election Day, the Stock Market has posted $3.2 trillion in GAINS and consumer confidence is at a 15 year high. Jobs!’ Trump said on Twitter.

    http://www.dailymail.co.uk/news/article-4275140/Trump-boasts-stock-market-consumer-confidence.html

  • socalbeachdude

    The money – or lack thereof – behind the New York Slimes

    Mexico’s richest man Carlos Slim has lost $16BILLION because of Trump after the President’s rise made the country’s currency collapse

    Mexico’s richest man, Carlos Slim, has seen his personal fortune shrink by $16 billion…because of Donald Trump’s rise to power and the effect it has had on the Mexican currency.

    http://www.dailymail.co.uk/news/article-4274520/Mexico-s-richest-man-Carlos-Slim-lost-16BILLION.html

  • socalbeachdude

    How a Money-Losing Snap Could Be Worth So Much

    Testing the upper limits of valuation, Snap’s investors are betting on the kind of rapid growth that few, if any, companies have ever achieved.

    By now, even most of us over 35 — old age, by Snapchat standards — are aware of the photo sharing and messaging app sweeping teenage and millennial America.

    Even if you have no interest in sending nude photos of yourself that self-destruct, or in video lenses that enable you to vomit a rainbow, turn your head into a taco or make your eyes into glittering hearts, you may be wondering how such groundbreaking technology could be worth upward of $24 billion.

    That was the value of Snapchat’s parent company, Snap Inc., as it priced its stock on the eve of its market debut. And on its first day of trading on Thursday, it rose even higher. Its closing price of $24.48 was 44 percent above the $17 offering price set Wednesday night. It’s the biggest initial public offering since Alibaba’s in 2014.

    At that price, Snap makes its much bigger rival Facebook — not to mention such internet stalwarts as Google, Amazon and even Netflix — look like bargain-basement “value” stocks.

    Snap “looks tremendously overvalued to me,” said Brian Hamilton, a co-founder of Sageworks, a financial analysis and valuation firm.

    Michael Nathanson, senior research analyst at MoffettNathanson, described Snap as a “field of dreams.” Even with rosy growth forecasts, “at $22 billion, we’re looking at a stock trading at five to eight times estimated revenues in 2020,” he said before the valuation rose even higher. “The only companies in that domain are Facebook and Alibaba, and they have massive scale. And both of them are profitable.”

    There’s no point in comparing Snap’s profits to any of those companies, since Snap doesn’t have any. The company lost $514.6 million in 2016 and $372.9 million the year before, according to the prospectus it filed in February. It has lost money every year since it began commercial operation in 2011 and has warned it may never earn a profit.

    https://www.nytimes.com/2017/03/02/business/snap-ipo-valuation.html

  • socalbeachdude

    DOW 30 COMPANY HEADQUARTERS RAIDED BY FBI, ET AL.

    US authorities raid Caterpillar’s Illinois facilities

    Federal law enforcement officials searched three facilities of heavy machinery manufacturer Caterpillar Inc on Thursday, prompting a sharp sell-off in the company’s stock.

    A spokeswoman for the U.S. Attorney Office for the Central District of Illinois, Sharon Paul, confirmed that federal law enforcement officials conducted searches at locations in Peoria, East Peoria and Morton, Illinois, but did not say why federal agents raided the three locations.

    Caterpillar, in a statement issued on Thursday afternoon, said that the search may be related to an Internal Revenue Service investigation on profits earned by a Swiss subsidiary. It said that “while the warrant is broadly drafted, we believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter first disclosed in Caterpillar’s Form 10-K filed on February 17, 2015, and updated in Caterpillar’s most recent Form 10-K filed with the SEC on February 15, 2017.”

    Agencies involved in the search included the IRS’ Criminal Investigation Division, the U.S. Department of Commerce’s Bureau of Industry and Security’s Office of Export Enforcement, and the Federal Deposit Insurance Corp.’s Office of Inspector General, Paul said.

    Officials at the agencies could not be reached for comment.

    Caterpillar shares fell 4.3 percent to close at $94.36 on the New York Stock Exchange after trading as low as $92.84.

    http://www.reuters.com/article/us-caterpillar-probe-idUSKBN1692GI

  • socalbeachdude

    Stop! This is NOT like the dot-com bubble… it’s much worse, according to this chart

    http://www.marketwatch.com/story/stop-this-is-not-like-the-dot-com-bubble-its-much-worse-according-to-this-chart-2017-03-02

  • socalbeachdude

    ‘A total witch hunt!’ Trump slams leaks about his staff’s alleged links to Russia as he defends Jeff Sessions as an ‘honest man who did not say anything wrong’

    President Donald Trump is defending Jeff Sessions, after the attorney general removed himself from all investigations involving the presidential campaign in a stunning turnaround to save his job on Thursday afternoon. ‘Jeff Sessions is an honest man. He did not say anything wrong. He could have stated his response more accurately, but it was clearly not intentional,’ Trump said in a statement. Just hours after revelations that Sessions didn’t tell Congress about his meetings with the Russian ambassador to the U.S., he announced he was recusing himself from all investigations connected to the presidential election. He said he made his decision after consulting his staff, and informed the White House of his decision today.

    http://www.dailymail.co.uk/news/article-4277154/Trump-defends-honest-man-Jeff-Sessions.html

  • socalbeachdude
  • Pete Okuhira

    United States is the new Roman Empire that is on the verge of collapse. History repeats itself,

  • Jerry C

    My view of TEC:

    User-“comment”-9 hours ago

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  • tacoma

    While the U.S. is indeed in deep doodoo Michael’s list sadly is quite wrong. That’s because president Trump have already identified the single most important and urgent matter to be fixed. He, being man of action, have already fixed it.

    He will spend $53 billion on the military.

    This is a 10% increase over current annual military spending totaling $800 billion – $600 billion on sustaining the military plus $200 billion to fight ongoing wars. Spending this $53 billion is Trump very first fiscal decision, confirming this is indeed the single biggest problem facing the country.

    So relax. All will be swell. The DoD may soon able to do what it wanted so much but painfully held back: invade Iran, invade North Korea, invade Syria, and while at it throw a division of tanks into Russia from the Poland border. The last action is not really to start a war on Russia, but just to show NATO is boss. And to show America conducts its policy with restraint and wisdom.

    • Spatial Memory

      panglossian

  • Mark B.

    Trump can save America if for freeze federal over spending limit & some cuts, no more military build up, no border wall, wealthy pay more tax & no more drug war.

  • Bible Based Christian

    The wicked shall be turned into hell, and all the nations that forget God. Psalm 9:17 This is what happens when a nation loves wicked music, movies, and false Christian worship. American Idol anybody? Just keep trusting in yourself!
    I also will laugh at your calamity; I will mock when your fear cometh;
    When your fear cometh as desolation, and your destruction cometh as a whirlwind; when distress and anguish cometh upon you.
    Then shall they call upon me, but I will not answer; they shall seek me early, but they shall not find me:
    For that they hated knowledge, and did not choose the fear of the LORD:
    They would none of my counsel: they despised all my reproof.
    Therefore shall they eat of the fruit of their own way, and be filled with their own devices. Proverbs 1:26-31

  • Bruce

    NO Politician can fix our woes. If they clamp down as they’d have to then the politicians would be run out of office.

Ready Made Resources 2015
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