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12 Signs The Economic Slowdown The Experts Have Been Warning About Is Now Here

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Since the election there has been this perception among the American public that the economy is improving, but that has not been the case at all.  U.S. GDP growth for the first quarter was just revised up to 1.2 percent, but that is even lower than the average growth of just 1.33 percent that we saw over the previous ten years.  But when you look even deeper into the numbers a much more alarming picture emerges.  Commercial and industrial loan growth is declining, auto loan defaults are rising, bankruptcies are absolutely surging and we are on pace to break the all-time record for most store closings in a single year in the United States by more than 20 percent.  All of these are points that I have covered before, but today I have 12 new facts to share with you.  The following are 12 signs that the economic slowdown that the experts have been warning about is now here…

#1 According to Challenger, the number of job cuts in May was 71 percent higher than it was in May 2016.

#2 We just witnessed the third worst drop in U.S. construction spending in the last six years.

#3 U.S. manufacturing PMI fell to an 8 month low in May.

#4 Financial stocks have lost all of their gains for the year, and some analysts are saying that this is “a terrible sign”.

#5 One new survey has found that 39 percent of all millionaires “plan to avoid investing in the coming month”.  That is the highest that figure has been since December 2013.

#6 Jobless claims just shot up to a five week high of 248,000.

#7 General Motors just reported another sales decline in May, and it is being reported that the company may be preparing for “more job cuts at its American factories”.

#8 After an initial bump after Donald Trump’s surprise election victory, U.S. consumer confidence is starting to fall.

#9 Since Memorial Day, Radio Shack has officially shut down more than 1,000 stores.

#10 Payless has just increased the number of stores that it plans to close to about 800.

#11 According to the Los Angeles Times, it is being projected that 25 percent of all shopping malls in the United States may close within the next five years.

#12 Over the past 12 months, the number of homeless people living in Los Angeles County has risen by a  staggering 23 percent.

And in case those numbers have not persuaded you that the U.S. economy is heading for rough times, I would encourage you to go check out my previous article entitled “11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016” for even more eye-popping statistics.

During a bubble, it can feel like the good times are just going to keep rolling forever.

But that never actually happens in reality.

The truth is that we are in the terminal phase of the greatest debt bubble of all time, and the evidence is starting to mount that this debt bubble has just about run its course.  The following comes from Zero Hedge

A recurring theme on this website has been to periodically highlight the tremendous build up in US corporate debt, most recently in April when we showed that “Corporate Debt To EBITDA Hits All Time High.” The relentless debt build up is something which even the IMF recently noted, when in April it released a special report on financial stability, according to which 20% of US corporations were at risk of default should rates rise. It is also the topic of the latest piece by SocGen’s strategist Andrew Lapthorne who uses even more colorful adjectives to describe what has happened since the financial crisis, noting that “the debt build-up during this cycle has been incredible, particularly when compared to the stagnant progression of EBITDA.”

Lapthorne calculates that S&P1500 ex financial net debt has risen by almost $2 trillion in five years, a 150% increase, but this mild in comparison to the tripling of the debt pile in the Russell 2000 in six years. He also notes, as shown he previously, that as a result of this debt surge, interest payments cost the smallest 50% of stocks in the US fully 30% of their EBIT compared with just 10% of profits for the largest 10% and states that “clearly the sensitivity to higher interest rates is then going to be with this smallest 50%, while the dominance and financial strength of the largest 10% disguises this problem in the aggregate index measures.”

The same report noted that net debt growth in the U.S. is quickly headed toward negative territory, and the last time that happened was during the last recession.

We see similar things when we look at the 2nd largest economy on the entire planet.  According to Jim Rickards, China “has multiple bubbles, and they’re all getting ready to burst”…

China is in the greatest financial bubble in history. Yet, calling China a bubble does not do justice to the situation. This story has been touched on periodically over the last year.

China has multiple bubbles, and they’re all getting ready to burst. If you make the right moves now, you could be well positioned even as Chinese credit and currency crash and burn.

The first and most obvious bubble is credit. The combined Chinese government and corporate debt-to-equity ratio is over 300-to-1 after hidden liabilities, such as provincial guarantees and shadow banking system liabilities, are taken into account.

We just got the worst Chinese manufacturing number in about a year, and it looks like economic conditions over there are really starting to slow down as well.

Just like 2008, the coming crisis is going to be truly global in scope.

It is funny how our perspective colors our reality.  Just like in 2007, many are mocking those that are warning that a crisis is coming, but just like in 2009, after the crisis strikes many will be complaining that nobody warned them in advance about what was ahead.

And at this moment it may seem like we have all the time in the world to get prepared for the approaching storm, but once it is here people will be talking about how it seemed to hit us so quickly.

My hope is that many Americans will finally be fed up with our fundamentally flawed financial system once they realize that we are facing another horrendous economic crisis, and that in the aftermath they will finally be ready for the dramatic solutions that are necessary in order to permanently fix things.

 
  • aldownunder

    I’m sure socalbeachdude has posted links to most or all of these 12 signs over the last week or so..

    • secretskill

      That’s because socalbeachdude = M*i*c*h*a*e*l*S.n.y.d.e.r

      • socalbeachdude

        Nope.

    • socalbeachdude

      Yep, nearly all, and they are key factors currently that the markets are entirely ignoring.

      • Guest

        Please start a blog so we can clutter the comments section like you’ve done here. Okay?

        • SnodtBlossom

          Please start a blog so those like you can whine about people you don’t agree with.

          • socalbeachdude

            Indeed!

          • Indeed

            Indeed the worlds number 1 job site. Indeed how the world works. Baaaaaaahahaha!!!!

        • Paul Anders

          It’s obvious the author doesn’t mind…

        • IronBelly

          OK

          • PocoPete

            Maybe.

  • Bill

    If your feet are in the mud now, watch out, you will soon be in the quicksand.

    I’m starting to outfit my shipping container canversion for survival. Mounted on a trailer for mobility and security. Designed for for simple affordable living. Ready for the worst.

    • aldownunder

      yeah be prepared for the worst and hope for the best,I don’t think it will be a total breakdown of society but it could get pretty hairy for a while when people realize how they’ve been played………so yeah be prepared to get away for a while until it settles down especially if you live in a big city

      • socalbeachdude

        Huh?

      • Guest

        Was Mad Max filmed in Australia? I’ve watched that film several times, and I still not completely understand it.

        • aldownunder

          Just one of them movies you turn your brain off and watch
          The first one was definitely filmed in Aus I think the rest in the US because it was so popular

    • socalbeachdude

      Laughably false. Many Americans are out shopping for lovely homes here in the fine parts of Southern California this Spring where life has never been more beautiful.

      • ???

        All good things come to an end sooner or later. Nothing lasts forever.

      • meredithk

        Actually they are mainly Chinese.

        • socalbeachdude

          Absolutely false, and most all money flows out of China have been totally shut down.

      • bc

        Keep drinking that Kool aid…

      • LIZ THE SHIZ

        a shill for Million Dollar Listing LA , someone’s got the hots for Josh Flagg

  • Bob

    I wonder when hyperinflation will begin. After printing trillions of dollars and putting it in the economy, I am surprised it has not happened yet. What will trigger it?

    • socalbeachdude

      NEVER. The GRAND GLOBAL DEFLATIONARY SPIRAL will simply continue to intensify rapidly as it has been doing for the past 6 years.

    • JC Teecher

      Inflation is alive and thriving, but the true numbers are masked via fuzzy math.
      We won’t know hyper inflation is upon us until we are neck deep, and gasping for relief.

      • socalbeachdude

        Nope. There is no broad general inflation at all nor will there be in the foreseeable future.

      • James Godson

        I just saw a commercial for Little Caeser’s Pizza is now $6 – a 20% increase from the 6 months ago price of $5. Read more at jcbooks. org

        • JC Teecher

          signs of the times

  • socalbeachdude

    A top economist from JPMC was on Bloomberg early this morning crowing about how wonderful everything was and then the stock market indices in the US went on to set record highs today!

    • bc

      U seem to b totally deceived…good luck living under a bridge. !!!

      • socalbeachdude

        I didn’t say I believed what JPMC’s analyst stated. I merely reported on what the analyst was saying.

        • bc

          Why U copy & paste all thatbull crap ?

          • socalbeachdude

            Huh? Are you not aware of the importance of JPMC which is the largest bank in the USA? Really? Seriously?

  • socalbeachdude

    Fed’s Rosengren warns that Fannie, Freddie reform could roil commercial real-estate market

    http://www.marketwatch.com/story/feds-rosengren-warns-that-fannie-freddie-reform-could-roil-commercial-real-estate-market-2017-05-09

    HOME LENDING MORTGAGE MARKET NEARS SHUTDOWN

    Fannie and Freddie are nearly out of money and D.C. is getting anxious

    http://www.marketwatch.com/story/fannie-and-freddie-are-nearly-out-of-money-and-washington-is-getting-anxious-2017-05-11

  • socalbeachdude

    USA STOCK MARKET INDICES CLOSE AT RECORD HIGHS

    http://www.IndexQ.org

    • bubblicious

      trust me,print a $trillion a month (week!) and dump it in the market (anywhere) it can only go higher (until it doesn’t)

      • socalbeachdude

        That is not what is happening at all with the US stock markets, and the Federal Reserve totally ended its QE programs on October 3 2014 which is now more than 2 1/2 years ago and not a single penny of those funds ever even left the Federal Reserve.

        • mister_roboto

          The European and Japanese central banks have been frantically pumping printed money directly into world financial markets since the start of 2016. Prior to that, those markets were starting to spiral into a real deflationary compression.

          • socalbeachdude

            As to the BOJ that may be so, but that certainly is NOT TRUE as to the ECB which like the Federal Reserve ONLY PURCHASES BONDS which has nothing whatsoever to do with the stock markets.

          • JC Teecher

            Try about 6 or 7 years , for Japan’s printing currency, fuzzy mathematics, and any stunt possible to keep them afloat.
            The debt bubble is just about as bad as it is here in America, and the true figures of GDP ratio to debt is masked.
            Both are bad, really bad.

          • socalbeachdude

            The Japanese government debt is 250% worse than the US federal debt.

    • BS1986

      Its FAKE.

      • socalbeachdude

        How so?

        • BS1986

          The stock market is fake.
          The US Economy is declining and the stock market is rising-it doesn’t make sense.

          • socalbeachdude

            False. There is nothing “fake” at all about the US stock markets which VALUES COMPANIES and not economies. Moreover, the focus of many articles is on only 630 stocks on the Dow (DJIA 30), S&P 500, and NASDAQ (and there are actually less since a number are duplicates) rather than on the around 7,000 stocks which make up the stock (equity) markets in the USA.

          • BS1986

            HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA-WOW YOU actually believe that……..its fake.

          • socalbeachdude

            Absolutely false and very stupid and nonsensical assertions.

          • BS1986

            NOPE. Its fake. Big Ponzi scheme.
            Fake paper printed into oblivion.
            BUT when the day comes the US Military can no longer protect certain countries-it will fail.

          • socalbeachdude

            The value of the stock markets has nothing whatsoever to do with any central bank printing or credit creation at all and the value of the US dollar has nothing whatsoever to do with the US military. Get a clue, dude.

          • BS1986

            Actually it does.
            What I don’t understand is why are you fighting this reality.

          • SoCalBeachDude

            Actually, it doesn’t at all, just as I very clearly stated above and have explained in explicit detail in many other comments.

          • BS1986

            Are you a GOVT employee? Maybe an ANTIFA asshat?
            You lie and you spin, rather than accepting reality

          • BS1986

            True. Its fake. Sales on a lot of those companies are slumping but the stock market propped up by bond buying from the FED. Its fake.
            I can think of several stocks that are over bought like a big bubble.

          • socalbeachdude

            The Federal Reserve DOES NOT BUY BONDS OF COMPANIES AT ALL and never has. Where do you come up with such utterly bogus and false assertions?

            The Federal Reserve only purchases 8% of newly issued US Treasuries each year to replaced matured US Treasuries it owns in its $2.5 trillion portfolio of US Treasuries which is about 14% o all outstanding US Treasuries, but that has NOTHING WHATSOEVER to do with the valuations of individual stocks.

          • BS1986

            The Federal Reserve Buys Bonds.
            SO you say the FED doesn’t inject money into the markets?

          • SoCalBeachDude

            You apparently have zero comprehension as to the $13 trillion a year US Treasuries markets. The Federal Reserve does not buy all sorts of bonds, but only purchases US TREASURIES. More than $7 trillion a year are issued in new US Treasuries and the Federal Reserve only purchases about 8% of those US Treasuries each year using the proceeds which are paid to it by the US Treasury for the the US Treasury bonds they own upon maturity. That is not adding any new money at all into the US Treasuries markets, but simply maintaining the amount of US Treasuries owned by the Federal Reserve at right around $2.5 trillion.

            I would suggest that you learn about the US Treasuries markets at:

            http://www.TreasuryDirect.gov

          • BS1986

            Do you work for the GOVT? I just get that vide you are a paid sheep.
            The combined $2.8133 trillion in U.S. government debt held by the public that is now owned by the Federal Reserve and the Chinese equals more than 27 percent of all U.S. government debt held by the public.

    • Dan Wingert

      Wall Street is ready for war.

      • socalbeachdude

        What war? With whom? How would any “war” in any way benefit Wall Street?

        • Dan Wingert

          Defense stocks go sky high.

          • socalbeachdude

            They’re already at preposterous PE levels and are not likely to be going higher at all, and there certainly won’t be any more “wars” than we already have going on. By the way those wars are all OFFENSE WARS with not a single one being a defense war.

  • Guest

    Yet you want to run for Congress? Why, so you can ride out the storm in Washington D.C.? Yeah, that makes sense.

  • Jedi

    Below are 15 things liberals love.

    Astronomical debt
    Massive budget deficits
    Government dependency
    Socialism
    Group think
    Mocking the homeless
    Crushing dissent
    $20 Lattes
    Barack Obama
    Political correctness
    Censoring anyone who disagrees with their views
    Oppressive regulations
    Open borders
    Rachel Maddow
    Lack of accountability/double standards

    • aldownunder

      climate change theory

    • abc

      The “peaceful religion”, and those who kill people “peacefully”.

      • LIZ THE SHIZ

        Sharia Sharia bayayby Sharia baby , I love those old 4 Season’s tunes

        • SnodtBlossom

          Why don’t you come out,
          With your red dress on ..seriously

          • LIZ THE SHIZ

            because the devil borrowed it and gave it to you to wear under the street lights in Tampa to pick up your Johns

          • SnodtBlossom

            at least you admit to being a crossdresser..

          • FirstGarden

            I thought it was devil with a blue dress on.
            How times have changed.

      • Carl

        Your old testament could give Islam a run for it’s money. How many people did god MURDER in the old testament. Not to mention the hundreds of thousands of innocent animals who had to get their throats slit and their blood spilled.

        • FirstGarden

          Oh shut up!

          • socalbeachdude

            Carl is 100% correct.

    • SnodtBlossom

      #16 your momma’s low rates for sex acts

      • Guest

        It amazes me that the author of this site allows this kind of filth on his blog.

        • SnodtBlossom

          it will likely be deleted, but it was fun while it lasts

          • Paul Patriot

            Wow! Please get that twisted, depraved mind of yours remodeled, and seek the Lord Jesus Christ while there is time, because you will find out someday that there IS a God.

          • Carl

            As SoCal pointed our. Who was god before jesus was born?

            And Paul Patriot give me a break about your puritanical sensibilities.

          • LIZ THE SHIZ

            so now you’re using SoCal as the voice of reason and knowledge ? you must be full of COVFEFE

          • JC Teecher

            is that the same as caca?

          • socalbeachdude

            Why are you so obsessed with a non-word which was simply as misspelling for the word “coverage?”

          • JF

            Yeah it was probably the auto spellchecker. Those things mess up all the time. Can it be turned off I wonder (guessing DJT uses an iPhone and I have an Android so don’t know).

          • bc

            Might as well not waste your time casting pearls before swine

          • Carl

            Yes someday…But not today…I guess there is Always Tomorrow…Or the next decade or 100 decades…he sure is a quiet and nonexistent chap….Though I hear is is rather busy with all the prayer requests for close parking spots at walmart and making sure someone gets their dream home, vacation, etc/

          • SnodtBlossom

            there is no god

          • STONE COLD STEVE AUSTIN

            Whaat?

          • SnodtBlossom

            u know how it rolls

          • STONE COLD STEVE AUSTIN

            Whaaaat?

          • Derrick Tyson

            “there is no god”

            Who said?

          • SnodtBlossom

            there is no god 🙂

          • STONE COLD STEVE AUSTIN

            What?

          • SnodtBlossom

            u heard me

          • STONE COLD STEVE AUSTIN

            Whaaat?

          • James Staten

            Snottly, Get you a nice cup of coffee, and read this article.

            http://endtimesforecaster.blogspot.com/2010/05/chapter-8.html

          • socalbeachdude

            What utter nonsense, dude.

          • SnodtBlossom

            and the odds i will do that are?

          • JF

            What’s your proof – not somebody’s opinion!

          • JC Teecher

            She/it does not care. Like Carl and sbd, they want to be blotted out for all eternity, because they can’t even stand themselves.

          • SnodtBlossom

            JCT’s wives sleep with other men

          • IronBelly

            There is no need for comments like this.

          • SnodtBlossom

            obviously i think there is

          • Realist

            Obviously you’re a bottom-feeder who likes being one.

          • SnodtBlossom

            birds of a feather..

          • JF

            No you just don’t have anything worthwhile to say.

          • socalbeachdude

            And if so, it certainly isn’t JC.

          • TOUJOURS DEMAIN

            It may be a while until it is deleated because I believe he is diligently spending time coming up with a catchy campaign slogan.

      • LIZ THE SHIZ

        from one who knows

        • LIZ THE SHIZ

          I’ve been hacked!

          • SnodtBlossom

            you are a hack 🙂

          • Realist

            You are moral filth incarnate.

          • SnodtBlossom

            your girlfriend wears a strapon

    • Zlatko Milanovic

      Boy, you are a simpleton…

    • HadItWithThem

      500 THUMBS UP!!

    • Chuck Morrison

      These items simply represent the status quo. The left and right wings of the endless war party are attached to a very corrupt, debauched, and filthy bird. The so-called conservatives have been in the majority for long stretches, same as the libs, and it has made not a dime’s difference in the outcome. They have all voted, and continue to vote (including the most recent budget vote!?!) for endless debt, endless war, and endless theft from the American working and middle classes.

      Real solutions are needed, and it’s going to take the rise of a viable third party to do it. End the FED, issue sound money directly from the US Treasury interest-free, establish sound trade policies, close foreign bases and bring the troops home, make our own things, harvest our own crops. In simpler, older terms, we must repent of our national sins; the lies, thefts, adulteries (physical and spiritual), and murders being committed in our name by our leaders all over the world. Many should hang, many should be in jail, and many should be horsewhipped.

      • Tom Tom

        Agree except a third party won’t do it now. Too late. Goodbye.

        • Chuck Morrison

          Unfortunately, you are probably right about it being too late for the third party effort; the deep state has grown very powerful, and they are likely to have us in a national emergency before any meaningful reforms can occur.

          The national repentance part COULD work, but if we are as near the end as I think we well may be, then that isn’t going to happen. I do enjoy maintaining a little grain of hope in an increasingly desperate situation, but in the end, you are probably right: Good-bye! I don’t mind that my King, Jesus, will return (possibly very soon), and I don’t mind that there will be perfect justice. I could wish that it could be done with more convincing and less blood, but apparently that is not in our nature.

          • James Godson

            It is time to come out from among them and be separate by starting new Christian nations inside the USA. read more at jcbooks. org

          • Chuck Morrison

            I agree with you James, as in “Come out of her, come out of her my people, lest you be partakers of her sins…” I just don’t know if I’m going to have the time to get out of Dodge before the proverbial bovine scat hits the fan. But I will read more about it, as you suggest. Thanks.

          • socalbeachdude

            There obviously will be no “nations” inside the USA at all.

        • FirstGarden

          A third party is like a third leg.
          It would become just like the others.

      • socalbeachdude

        There are over 100 legitimate recognized political parties in the USA, but they draw very little interest from anyone in national elections.

        As to the Federal Reserve it was created by an Act of Congress more than 100 years ago and is one of the only truly excellent functioning American institutions. It has always rebated 94% of its profits and is now generating almost $100 billion a year in revenues for the US Treasury and it will continue to do an excellent job over the course of the next 100 years and beyond.

        • Chuck Morrison

          Yes it is too bad that most people get drawn into the false dichotomy that is the two-party system, where everyone is freaking out over divisive social issues that the media keeps them focused on, while business as usual carries on. Said business primarily consisting of congress rewarding itself at the expense of those still working, and keeping the military industrial complex well-supplied with both cash and endless wars of imperial aggression half-way round the world with people who never could have posed an existential threat to us until we bombed their families and destroyed their lives, and stole their resources to enrich our big corporations, making eternal enemies out of them, and guaranteeing a terrorist response.

          As for the FED, you’ve got to be kidding! If it’s generating profits, their not for everyday people. The value of our labor has been cut in half over the course of the last 50 years, and this is a natural result of fractional reserve fiat based central banking. It’s the magical money system of mystery Babylon, and it’s designed to separate workers from the wealth they generate, and transfer that wealth to an ever shrinking number of sociopaths at the top of the pyramid. Charts and numbers show what has happened, anyone can see it who really wants to. There is no way to legitimize an institution that is engaged in massive theft and fraud. Trollish of you to try.

          • socalbeachdude

            Yes, we really have a ONE PARTY SYSTEM ruled by the oligarchy here in the USA, but the people have the power to change that but apparently have little interest in doing so.

            As to the Federal Reserve, it earns most of its profits of more than $100 billion a year from INTEREST ON ITS PORTFOLIO which is now $4.4 trillion in size and is primarily comprised of US Treasuries and MBS instruments. It rebates 94% of that profit to the US Treasury each year which is nearly $100 billion a year in revenues for the US Treasury.

            There is no such thing as “fractional reserve banking” as you are suggesting, but rather you are merely CONFUSING RESERVE REQUIREMENTS with such utter nonsense. Member banks must retain 10% of the amount of their customer deposits in cash due to reserve requirement and can NEVER LEND OUT MORE THAN 90% OF THE TOTAL AMOUNT OF CUSTOMER DEPOSITS.

            Presently, banks have that 10% reserve in their PRIMARY RESERVES ACCOUNTS inside the Federal Reserve in the amount of around $1.38 trillion, PLUS they also have another more than $2.5 trillion inside the Federal Reserve in their EXCESS RESERVES ACCOUNTS.

            Contrary to your totally false assertions, there is no “theft” or “fraud” whatsoever related to the Federal Reserve which is one of the best run and most conservative central banks in the entire world and it is highly transparent as to all reports, books, and other information, and I would suggest you learn about it at:

            http://www.FederalReserve.gov

          • Chuck Morrison

            You’re confusing sound management practices with fairness and equity. The value of labor has been cut in HALF since the sixties, while interest on passbook savings has been reduced from rates as high as 5% to near 0%. They issue our own currency as DEBT, and charge interest on it, guaranteeing that the debt cannot be paid.

            Congress is supposed to issue money from the US Treasury, interest free, based on the treasury’s own reserves. And when you look at the currency and inflation charts since Nixon drove the final nail by detaching the dollar from gold, you see the immediate loss in value of the dollar.

            The FED is not federal, and it isn’t a true reserve. It is a private banking cartel, issuing fiat debt instruments. Will the debt be repudiated? Can the debt be repudiated without major war?
            The debt cannot be paid, and it can only be serviced to the point where the economy fails. Honest money is the answer, backed by something of substance. Fiat money has always failed, and will always fail. Not a matter of if, but when.

            It should also be noted that JFK tried issuing United States notes interest-free from the Treasury, and was dead six months later. Stopping the printing of said notes was almost the first thing LBJ did after he took office. Cartel-Monopoly Men don’t like anyone messing in their game.

          • socalbeachdude

            The “value of labor” has nothing whatsoever to do with the Federal Reserve at all. Many former workers were VASTLY OVERPAID and many of those jobs have been eliminated.

            The Federal Reserve has NOTHING WHATSOEVER to do with interest paid to bank depositors on time deposits (savings accounts) and has NEVER SET ANY RATE RELATED to those accounts. Before its repeal, Regulation Q set a MAXIMUM AMOUNT OF 5.25% but NEVER SET ANY MINIMUM AMOUNT OF INTEREST applicable to time deposits.

            No, the Federal Reserve does not issue currency as “debt” at all. And, no, they do not charge interest on it. In fact, the Federal Reserve REBATES 94% of its annual profits each year to the US Treasury making the $2.5 trillion in US Treasuries that it owns INTEREST FREE TO THE US TREASURY. Are you somehow not aware of that fact?

            As to gold that was ENTIRELY ELIMINATED FOR ANY USE AT ALL RELATED TO US MONEY DOMESTICALLY IN THE US BACK IN 1933 and the only little tiny relationship left was related to international matters and that was all that was eliminated back in 1971 during the Nixon years.

            The Federal Reserve is NOT a “private banking cartel” at all, but rather an ENTITY CREATED BY CONGRESS AS A RESULT OF THE FEDERAL RESERVE ACT which rebates 94% of its annual profits to the US Treasury and which is controlled by Congress.

            The Federal Reserve did not create a single penny of the US government debt and owns only about 14% of that debt and that which it does own is INTEREST FREE TO THE US GOVERNMENT. The largest holder (owner) of US government debt is the US government itself which owns around $6 trillion of it through its various agencies with the largest owners being the Social Security and Medicare Trust Funds.

            “Backing” any money with some thingy is a totally obsolete and very stupid notion. All currencies are backed by the current and future assets and labor and productivity of the citizens of the issuing country and that is precisely what currencies are used to pay for in transactional use.

            Moreover, John F. Kennedy did no such things as you falsely assert at all.

    • JC Teecher

      …and stupid, brain dead self-called comedians, that make fun of trump and his family, and think it is so funny that they should be paid for it.
      PUKE!

    • South Texas

      I can’t say the conservatards do much to counteract. They are always happy to spend money on the warfare state.

    • Richard Schnitzler

      You forgot homosexuals, Black Lives,and Hillary Clinton

      • JC Teecher

        Don’t forget the 70 variations of unisex/trans sex and self sex that they worship.

    • FirstGarden

      Sadly, I agree.

      The best democrats (from the old school) were moderates, because they retained a degree of sense and honesty. I was ‘born & raised’ a liberal democrat myself.
      To quote:

      “I never left the democratic party.
      The democratic party left me.”

      Now I’m conservative, independent treehugger, and as such, do see the forest through the trees.
      I recognize that, bottom line, human nature is the real issue. I just think that the liberals are all about the sizzle, not the steak, full of smoke & mirrors, vacuous demagoguery, and disingenuous care for victimcrats, whom they really don’t give a rip about.

      (Look how obscenely wealthy they are.) It’s all about the power and being a good political chameleon.

      Republicans are often much the same, but hide it under better sophistry. So I’m no pub either.
      I appreciate the conservative value system, but not always the republican agenda.

      And I appreciate the fact that good, sound reason prevails; so much so, that the far left, who have lost in the arena of honest discourse. Lacking in any spiritual authority — influence and persuasion– they now shamelessly resort to control, coercion and force. That’s how morally and philosophically bankrupt they have come to be.

  • David Purnell

    Radio Shack?! Seriously?! Make that 11 reasons.

    • Carl

      Yes the conservatives love the “old dog” retail stores. Even if it means they have to pay 8 times as much for something at Radio Shack then they would pay buying from a retailer. The will give millions in corporate welfare just to keep them up and running.

      Speaking of overpriced. I have to wonder how Staples stays in business when most of their products can be purchased lower online. I guess people are just lazy and many don’t shop around before they buy?

  • Rhino Horns

    The wrath of God begins later this year. Repent and ask for mercy from The Lord Jesus Christ.

    • Rumplestiltskin

      Ha ha ha hahahah…… You’ve got to be kidding me? You actually believe that some man is going to come back from death and save your stupid *sses? I would love to in a front row seat when Invading Aliens tell you, you have no idea as to who or what your Gods are. Try replacing the word God with Alien, you might get a better understanding of what we are up against.
      Also stop acting like a slave who is suffering from The Stockholm Syndrome. If you cannot stand toes to toes, and nose to nose with your creators, then you really are a sniveling slave who finds ignorance a safe haven !!!

      • chris

        Try replacing the word alien with demon and then maybe you can see how you are being fooled. There are no aliens, at least none that could visit earth in a million years. If you know this you are a lackey for the Satanic elite, if not you are just a useful idiot for them.

    • Carl

      Are you sure you are not referring to the Wrath of Khan?

    • TOUJOURS DEMAIN

      Thanks for the heads up. Do you know what month later this year?

      Also, is there a possibility it could start early next year?

      • aldownunder

        start a countdown

  • Rumplestiltskin

    What happens when any country hits rock bottom? Charismatic individuals arise to push the government narrative, “At all Cost”, thus leading always to totalitarianism and eventually a dictatorship. In America we euphemistically call it COG, (Continuity Of Government) making it appear selfless and in the best interest of our populace.

    That is, until the people realize they are being used like slaves to support the other half of a population which works for that government and the many many manufacturing companies that sell exclusively to that government.

    When those slaves wake up they will find that governmental authority does come out of the barrel of a gun. That is when civil war breaks out, and in America where we have a gun behind every blade of grass, our government will have a hard time pushing its authority meme !!!

    • HadItWithThem

      I am right there with you!

    • socalbeachdude

      Nope.

  • mister_roboto

    I though Radio Shack went out of business back in 2014.

    • socalbeachdude

      That was when they went through their first REORGANIZATION BANKRUPTCY (Chapter 11).

  • DJohn1

    The problem is really quite simple.
    No discretionary income means no retail markets.
    It is like a giant flywheel and that wheel is gradually choking out the entire retail market.
    You have done an excellent job of detailing the problem.
    But like most professional lawyers you are trained for 3 years to present problems and you have one year of solving problems.
    The answer is to increase the amount of discretionary income of the average person in this country. That involves changes in how we do things and not all those changes are painless.
    Decrease the hours worked without decreasing salaries.
    We are in a time of severe automation in our industrial world.
    We are in a time when a lot of industry is subcontracted overseas.
    That has to change by making our industry competitive with the poor people of the world willing to work for practically 10 cents on the dollar.
    Automation means less hours worked for the same amount of pay.
    It has to be that way. The greatest debt that third world countries have doing business here is 5,000 miles between there and here.
    That is a lot of transportation money cut out of the bottom line.
    So at some point we can compete with them on a fairly equal basis because our transportation costs are much lower.
    Realistically it will take a lot of very good business management to make it work.
    Automation in the form of the assembly line did the same thing to us in the 30s that is now happening with intelligent machines.
    FDR came up with a number of money solutions and hour solutions to put everyone back to work. Time and one half for anything over 40 hours was one such solution.
    I say we need to go to a 32 hour week. Anything over that is overtime.
    Pull the plug on cheap currencies world wide. Put in protective tarriffs where needed.
    Pull the plug on corporation IRS laws that discourage new individuals from starting small businesses.
    Pull the plug on all giant agencies of the Federal Government discouraging people from working.
    Put in a Social Security Medicare and Medicaid law that applies to everyone no matter what they own. Why work if 80% of us die broke because of unfair health laws that take everything you own and then give you medicaid.
    Take away the unfair laws concerning liability just because you are married to someone.
    If you live together, the poorer person gets it all for free.
    If you are a welfare bum, medicaid gives you an unfair advantage.
    What I suggest we implement cannot be done overnight. It would destroy our price structure of retail goods if wages do not go up with prices on goods.
    Our pension system is about to collapse. So is Social Security thanks to the stealing of funds by the Congress from the General Fund.
    Guarantee those pension funds to our elderly.
    Revise COLA in Social Security so it is not a bad joke. I consider a $6 a week raise in pay and a $10 a week increase in Medicare a bad joke on the part of our legislatures.
    Put Social Security on a 52 week basis not a 48 week basis. Meaning count the 5th week that comes every 3 months.
    You need cash flow to retail. That will do a lot towards providing it.
    Welcome to the third really big Depression of our lifetimes. It will likely be an inflationary depression where our money becomes worthless.

    • socalbeachdude

      And just where on earth do you think money would come from to “increase discretionary income?”

    • JC Teecher

      Bottom line? We have been in a 30 year period of turning America upside down, and taking it to the limits of solvency, without crashing it, until the PTB are ready for it to crash.
      KInda like the planning for the twin towers to fall. Yes, I said planned, because it was a planned event and the proof is in the big insurance scam that happened just days prior to the collapse and the big payouts and payoffs, afterwards.

  • chris

    ‘My hope is that many Americans will finally be fed up with our fundamentally flawed financial system once they realize that we are facing another horrendous economic crisis, and that in the aftermath they will finally be ready for the dramatic solutions that are necessary in order to permanently fix things.’

    This is the problem. In the aftermath the Global Satanic elite will indeed suggest a ‘solution’ probably along the lines of a ‘mark of the beast’ digital implanted cashless society system run through the UN/IMF. Many people will welcome it no doubt.

  • JC Teecher

    Signs of the Economic slowdown….# 13…..

    The latest figures came out today, for jobs created in May. It was about 50,000, less than originally predicted, which was basically, a pizz poor amount, anyway.

    Two things that do not align with the poor state of the economy, actually three. The new record highs set today for the three major stock indexes, the unemployment number percentage, and the low inflation rate.

    The Unemployment Rate, and the Inflation Rate is rigged, because several years ago the gov changed how they adjust and figure these two, so they can “mask” the true numbers. The true numbers would shock the nation, and cause the majority of workers to go into panic mode.

    • Carl

      Now hush Little Teecher don’t you cry.
      Everything’s gonna be alright.
      Jesus isn’t here right now and we don’t know why
      But everythings gonna be alright.
      And if that little saviour don’t appear
      it probably means he isn’t here
      So don’t worry you’re pretty shady and
      I’m gonna have the last f–in word.

      • socalbeachdude

        Indeed, Carl.

      • JC Teecher

        You can have the last word, but I will have the last laugh. Now back into your little box obi wan dummy. I may let you out when I see someone needing a cheap chuckle. Ha Ha Hee Hee Haw.

        • socalbeachdude

          Grow up, dude.

      • Realist

        Know this first of all, that in the last days mockers will come with their mocking, following after their own lusts, and saying, “Where is the promise of His coming? For ever since the fathers fell asleep, all continues just as it was from the beginning of creation.”

        For when they maintain this, it escapes their notice that by the word of God the heavens existed long ago and the earth was formed out of water and by water, through which the world at that time was destroyed, being flooded with water.

        But by His word the present heavens and earth are being reserved for fire, kept for the day of judgment and destruction of ungodly men.

        But do not let this one fact escape your notice, beloved, that with the Lord one day is like a thousand years, and a thousand years like one day.

        The Lord is not slow about His promise, as some count slowness, but is patient toward you, not wishing for any to perish but for all to come to repentance.

    • JC Teecher

      The spawn of the serpent has reared it’s filthy head again, and thinks I care what he says. He is a poor excuse for a human being, and 90% of the ECB family knows it.
      Speaking of ECB, congratulations for making it on the stevie quayle site with this article. There should be more articles from this site and it’s writer, there.

      If not for the likes of such bottom feeding trolls like sbd,carl, and snotbox, this could be considered one of the best sites on the net, because of it’s regulars.
      I have been on many, many sites over the past 12 years, and even sparred with some liberals on the Jonathan Turley site for several months. All in all, for my tastes, this site has some of the best common sensed folks anywhere.
      Sadly; I have been treated the worst, by moderators and other so-called Christians on the all Christian based sites, than I have on the prepper/economic/etc. sites. Overall, they have the same mentality as our very own , gsob. If it ain’t his style of worship and understanding, it is all wrong, plus throw in a big heaping helping of unadulterated pride.

      That is where many Christians on those sites, not everyone, have a weak understanding of how to rightly divide the Holy Word. They cling to Man’s doctrine, and then ridicule and accuse those that bring forth God’s truth.

      Other than a handful of Christians that post comments directly to me, I haven’t been offended nor taken offense to comments posted in disagreement, here. It isn’t the disagreement that bothers me, but a direct lie or bashing of me personally is what I don’t care for, especially from a supposed Christian.

      From the likes of the trolls aforementioned; I expect it, and in fact it has helped me to resist the urge to argue with them. God has said to never get into an argument with Satan or one of his little followers. Make a quick point maybe, and then shake the dust off our sandals, and move on to better fishing holes.

      • James Godson

        Check out jcbooks .org

        • JC Teecher

          Thanks JG, but when I see the teachers/preachers associated, with the three J’s (Joel, Joseph, and Joyce) involved, actually four if you include td Jakes, then I am not interested.

          The preaching for profit ministries don’t have anything in common with my “never a dime” free teaching, and the true biblical understandings of a post trib (rapture) change from flesh to spirit.

          I was misled by these types for nearly 30 years of my adult life, and when I prayed for truth, the Holy spirit came in like a river with truth, knowledge, and understanding.
          I need no man, because I listen to the author.

          • socalbeachdude

            This is not a religious blog and your constant religious nonsense is far off topic from the entire purpose of this blog.

          • IronBelly

            How can you say this is not a religious blog when the links “The Most Important Thing”, “Did You Know”, “The Rapture Verdict” appear in green at the top of the window?

          • socalbeachdude

            They have nothing to do with the main focus of this blog.

          • IronBelly

            If they have nothing to do with the main focus of this blog then why are they there at all?

          • socalbeachdude

            They are there just like appetizers at any restaurant which most people choose not to order before dinner.

          • IronBelly

            But if someone does “order them before dinner” doesn’t that make them included in the focus of this blog?

          • socalbeachdude

            Not really. They are just side issues which are totally irrelevant in the big picture of financial matters and the already occurring economic collapses ongoing throughout the global economies.

          • IronBelly

            If they are totally “irrelevant” then why do they appear at the top of the window?

          • socalbeachdude

            I don’t know. Ask the blog author.

          • IronBelly

            Since you are the one who thinks these religious links are irrelevant why don’t you contact him?

          • socalbeachdude

            I couldn’t give the slightest bit of a hoot if those links are there or not. That’s his call.

          • IronBelly

            If you don’t care if the religious links are there or not then why do you care about people posts who reference religion?

          • socalbeachdude

            Obviously, because such nonsense is totally irrelevant to the specific articles.

          • IronBelly

            How was your post “Anti-Trump “comedians” having really bad moment” relevant to “12 Signs The Economic Slowdown The Experts Have Been Warning About Is Now Here”?

          • socalbeachdude

            It was a direct response to the comment above it. Hellloooooo?

          • IronBelly

            Did you know you posted this same link twice? Yes, once was a reply to a comment above it. But the other post of this link was at the top level and not a reply to anyone.

          • socalbeachdude

            Why are you so fascinated with my comments? That was once posted above but them moved in response to where it fit perfectly. Hit refresh on your browser, and then please go get a life and a clue.

          • IronBelly

            Why are you so fascinated by the religious comments of J C Teecher? Is your life purpose to just harass people whose opinions are different from yours?

          • socalbeachdude

            I’m not and usually just ignore them, but often they are precisely what totally clutter up threads here and become very intrusive while that very same person whines about other commenters here! As to opinions, I rarely post those, but instead post ACTUAL FACTS AND ACTUAL INFORMATION, which is very rarely (though occasionally) done by that person.

          • IronBelly

            You post 10 times as much as anyone else. Don’t you think your own posts clutter up the threads?

          • socalbeachdude

            It takes a lot of time, work, and effort to research and find the important news stories and information that I post and it appears that you are simply not appreciate of that effort and results nor are you the least bit interested in learning about anything going on in the world today related to the economic collapse. Pitiful, just pitiful. And sad.

          • IronBelly

            Don’t you just post links to news stories on other websites? How hard can that be?

          • socalbeachdude

            Oh pulease. You obviously don’t value RESEARCH AND KNOWLEDGE at all.

          • Jim

            You should be fined for Copyright Infringement.

          • socalbeachdude

            You should read the US Copyright laws and pay particular attention to the section on the FAIR USE DOCTRINE. Hellloooo?

          • IronBelly

            How much time, work and effort went into that comment?

      • socalbeachdude

        What utter nonsense.

  • Fish Deep

    What replaces “our fundamentally flawed financial system”
    will be most certainly be nothing that we want.

  • socalbeachdude

    Kathy Griffin loses ALL of the rest of her tour gigs in wake of Donald Trump severed head scandal

    Kathy Griffin lost the last hold out in her Celebrity Run-Ins Tour, the Uptown Theater in Napa, California, which cancelled her June 17 performance on Friday in the wake of the scandal.

    Griffin had seven dates left on her spring/summer tour, and all of them ended up cancelling after her stunt photo shoot of holding up a Donald Trump severed head replica. She also lost gigs in New Jersey and California and New Mexico, an endorsement deal, and her CNN New Year’s Eve gig. Even pal Al Franken just asked her to stay home from his book event.

    http://www.dailymail.co.uk/news/article-4568198/Kathy-Griffin-loses-rest-tour-gigs.html

    • aldownunder

      Will you get your money back?……..Ha Ha

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    What Ever Happened To Draining The Swamp?

    http://rense.com/general96/drainswamp.html

  • socalbeachdude
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  • socalbeachdude

    MAY JOBS… 94,983,000 NOT IN LABOR FORCE…

    http://www.cnbc.com/2017/06/02/nonfarm-payrolls-may-2017.html

  • socalbeachdude

    BIG GAIN FOR CA BEACHFRONT PROPERTY IN BIG SUR!

    Big Sur landslide that buried the Pacific Coast Highway under a million tons of rock and dirt has added 13 ACRES to the California coastline

    When California suffered its biggest-ever mudslide on May 20, it lost a quarter of a mile of Highway 1 in Big Sur near to a terrifying torrent of rock and dirt. But it also gained coastline – delighting experts.

    http://www.dailymail.co.uk/news/article-4563446/Big-Sur-landslide-added-13-acres-California-s-coastline.html

  • socalbeachdude

    John Hussman predicts stock market crash

    The man who accurately predicted the 2000 Tech Bubble and the 2008 U.S. Housing Bubble is issuing another dire warning.

    John Hussman is sounding the alarm on overvalued U.S. markets, except with a twist. While other bubbles have seen frothy elements account for a large portion of expensiveness, in this bubble, everything is expensive. John Hussman’s predictions for 2017 call for a potential stock market crash to happen any time, catching unsuspected investors stuck in a hypnotic trance.

    And what is the basis for John Hussman’s prediction for a stock market crash? Overvaluation, plain and simple.

    Extremes in consumer confidence, investor sentiment, valuation, and price extension have historically marked market tops. Hussman argues this will be no exception.

    https://www.lombardiletter.com/twice-right-john-hussman-predicts-stock-market-crash/12244/

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Oil prices fall as US climate withdrawal compounds glut concerns

    http://www.cnbc.com/2017/06/01/oil-prices-slide-nearly-1-percent-on-persistent-glut-concerns.html

  • socalbeachdude
  • socalbeachdude

    USA STOCK MARKET INDICES CLOSE AT RECORD HIGHS

    http://www.IndexQ.org

  • socalbeachdude
  • socalbeachdude

    How debt-asset bubbles implode – Charles Hugh Smith

    http://charleshughsmith.blogspot.com/2017/05/how-debt-asset-bubbles-implode.html

  • socalbeachdude

    When Valuations Don’t Seem to “Work”

    http://hussmanfunds.com/wmc/wmc170529.htm

  • socalbeachdude

    A stock market crash: a matter of “when,” not “if”

    http://investmentresearchdynamics.com/a-stock-market-crash-a-matter-of-when-not-if/

  • socalbeachdude
  • socalbeachdude

    Europe, Japan’s cycle of negative interest rates to end

    http://www.abc.net.au/news/2017-06-02/ending-cycle-of-negative-interest-rates/8580698

  • socalbeachdude

    CHINA: The Greatest Financial Bubble in History

    China is in the greatest financial bubble in history. Yet, calling China a bubble does not do justice to the situation. This story has been touched on periodically over the last year.

    China has multiple bubbles, and they’re all getting ready to burst. If you make the right moves now, you could be well positioned even as Chinese credit and currency crash and burn.

    The first and most obvious bubble is credit. The combined Chinese government and corporate debt-to-equity ratio is over 300-to-1 after hidden liabilities, such as provincial guarantees and shadow banking system liabilities, are taken into account.

    n short, Chinese growth is in severe jeopardy. Its manufacturing base is being taken over by competitors and its high-tech future has yet to emerge, and may never emerge in time to avert a debt crisis.

    The Chinese Miracle is no miracle at all, it’s just simple development economics. China is now out of time and out of good options.

    https://dailyreckoning.com/greatest-financial-bubble-history/

  • socalbeachdude

    China’s Lehman Moment Is Coming!

    China has more than quadrupled its debt load since 2007

    Just between 2007-2014, its debt exploded from $7 trillion to $28 trillion (simply incomprehensible numbers).

    China’s addiction for growth (in building mega-cities, bridges, roads, etc…) helped push demand for commodities higher (like iron ore, steel, and oil).

    But the initial day of reckoning came late 2014. The world was unable to absorb the unrelenting Chinese production.

    They know that their economy is more sizzle than steak. They know that the books are cooked and the actual economic production is a lot smaller than is reported. They also know that a huge portion of the economy is in debt up to their eyeballs and any drop in prices (iron, copper, real estate, whatever) will lead to pain.

    So they began lending like crazy. The money supply (M1) raced from a mild 10% annual growth rate to 25% year-over-year.

    Chinese hot money and gambling bid up prices. Now that the hot money is being curtailed, prices are dropping again.

    Worse, now the Chinese factories have to dump all of their excess production.

    Deflation will be coming shortly.

    http://www.financialsense.com/andrew-zatlin/china-lehman-moment-is-coming

  • socalbeachdude

    China’s reforms not enough to arrest mounting debt

    China’s structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody’s said.

    The comments came two days after Moody’s downgraded China’s sovereign ratings by one notch to A1, saying it expects the financial strength of the world’s second-largest economy to erode in coming years as growth slows and debt continues to mount.

    Government-led stimulus has been a major driver of China’s economic growth over recent years, but has also been accompanied by runaway credit growth that has created a mountain of debt – now at nearly 300 percent of gross domestic product (GDP).

    Some analysts are more worried about the speed at which the debt has accumulated than its absolute level, noting much of the debt and the banking system is controlled by the central government.

    UBS estimates that government debt, including explicit and quasi-government debt, rose to 68 percent of GDP in 2016 from 62 percent in 2015, while corporate debt climbed to 164 percent of GDP in 2016 from 153 percent the previous year.

    A growing number of economists believe that a massive bank bailout may be inevitable in China as bad loans mount. Last September, the Bank for International Settlements (BIS) warned that excessive credit growth in China signaled an increasing risk of a banking crisis within three years.

    http://www.reuters.com/article/us-china-economy-rating-idUSKBN18M06Z

  • bored

    I feel you. It’s hard to read any comments with the beach dude posting link after link. It’s kind of turning me off to this blog.

    • JC Teecher

      You aren’t alone. Many stop by, but keep on going to greener pastures, as his outlandish postings and links, scare possible readers and posters away.
      I would ban his relentless buttocks from ECB, as well as snottybox, that called my wife a whore, just to try and rile me up, so she could laugh at her/it’s self in the mirror like the ole witch that it is.

      I saddens me, just about as bad as knowing I will miss the big concert in Manchester.
      Arianna Grannie is hosting the big shindig of cokehead cultists performers like Justin Beaver, Miley Cyprus, and Katy Purvey. They and all their qu-eerist fans will jeer at our potus and his family like the twisted sadist Kathy Gryphon. She is living proof that the mythological creature does exist, and it rears it’s ugly head when all the croxed up beasts listen and applaud.

      • socalbeachdude

        Nope, the comments increase substantially here when I post and since my latest post above nobody even bothered to post over the last 8 hours and that is always the case.

        What I post is always accurate, interest, on topic, and up to date information. What you post is typically always irrelevant personal or religious nonsense just like your post above clearly demonstrates.

        • unbelievable

          At least it’s in his own words. Not recited from another source.

    • socalbeachdude

      What utter nonsense.

      • bored

        That’s your default reply. How creative. Go back to posting more links. You useless mouth breather.

        • socalbeachdude

          Apparently you are not capable of comprehending a single word of the important information I post here. Sad.

          • bored

            Oh, I comprehend just fine. Sad indeed.

          • socalbeachdude

            Obviously not in your case.

  • Earth’sEnd

    south beach dude (below) needs to go~

    • socalbeachdude

      Get a clue, dude, and start dealing with actual facts.

      • Jim

        “FACT” socalbeachdude copy/paste/upvote/repeat.

      • Earth’sEnd

        thanks for documenting that you are a highly fuked up libtard.

        • socalbeachdude

          Laughably false. I am highly conservative on most issues, particularly financial issues.

  • JC Teecher

    I think I’ll go fishing. Oh wait, I just got back with my daily limit, got to wait till daybreak tomorrow. Started at 12:00 noon today, and had my seven before 2:00. It sure is fun when the fish are there and cooperative. Nice brookies and brown trout, and good size for eating.
    Wish it was that easy with lost sinners.

    • socalbeachdude

      It is far better to simply buy any first you want art your local grocery store.

      • mtntrek3

        There’s coming a time and soon in which we will need to know how to hunt, forage and store properly…. . Very difficult times (I’ve experienced a small sample of this the past few years along with my family), but they are coming. Basic needs will be met by those that have the skills to fulfill them. All the while, society will be falling apart at the seams. Faith in Christ is paramount. This world isn’t anyone’s permanent home, but one we all pass through to the eternal. John 3:16.

        • socalbeachdude

          No, food will always be abundant at your local grocery store.

          • mtntrek3

            Ummm, well not always.

          • socalbeachdude

            Always.

          • Ben

            Nope.

          • socalbeachdude

            We now have a massive global grain glut that is rapidly worsening.

        • Carl

          “This world isn’t anyone’s permanent home, but one we all pass through to the eternal.”

          What exactly is your point with this statement? Why should anyone have to suffer here on earth? Why does it matter if they will have eternal life if they have a life in misery here on earth?

          A womans grandson was killed in an accident a few weeks ago. He died and I see no one who said they would pray for the teen praising god for his death. Had he survived there would have been praise galore for god and the power of prayer.

          Can you explain the disconnect between when things go right and wrong and how god is celebrated when things go right and no mention of god when the outcome is not what people wanted?

          • mtntrek3

            This world is temporary, our souls will continue on eternally after death….either in Heaven or Hell. We suffer due to this being a fallen world …. we sinned in the garden of eden, and like the Apostle Paul said all of nature moans and groans in travail for now. As for when we die/whether we live or die due to an accident or illness…. that lies in God’s Hands. My wife and I experienced one of our nephews’ death about nine years ago in a motorcycle accident. Sad for sure to see him go so young….. yet he was saved (had accepted Jesus as his Savior), therefore he’s with God in paradise now. That’s a reason to have great joy for sure.

  • socalbeachdude

    Rense.com is a great site and posts many of the articles from this site among their great links.

  • socalbeachdude
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  • socalbeachdude

    MAY DAY! PM lead cut to just 1 point…

    http://news.trust.org/item/20170603194811-7cbgs

  • socalbeachdude
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  • socalbeachdude

    WHAT’S UP WITH DONNIE’S FEDERAL INCOMES TAXES? TRUMP REQUESTED IRS EXTENSION RATHER THAN FILING 2016 TAX RETURNS

    Trump filed for extension on his 2016 tax returns weeks after promising to release them ‘at some point’

    President Donald Trump has requested an extension from the IRS in filing his 2016 tax returns, the White House confirmed on Saturday, though no reason was given for the request.

    http://www.dailymail.co.uk/news/article-4569690/Trump-files-extension-2016-tax-returns.html

  • socalbeachdude

    The Chinese economic “death spiral”

    China is now trapped in a debt death spiral. It cannot afford for growth to slow because that would cause unemployment, bankruptcies, and social unrest. But, it cannot continue growing without massive borrowing and spending programs.

    This debt problem points to the third element in China’s growth formula, which is deflation. Persistent deflation and disinflation is caused globally by a combination of demographics, debt, deleveraging, and technology.

    China is ground zero for global deflation because of its cost structure and its cheap currency that exports deflation to trading partners.

    On the earlier visit to Nanjing, I met with provincial Communist Party officials who took me on a tour of a massive multi-city construction project with office parks, skyscrapers, apartment buildings, hotels, recreational facilities and transportation links for each of the cities. It was all empty.

    When we returned for tea in the provincial officials’ offices, I asked how they expected to repay the debt used to fund the construction. The head official answered matter-of-factly, “Oh, we can’t repay it. Beijing will have to bail us out.”

    https://dailyreckoning.com/chinese-economic-death-spiral/

  • socalbeachdude
  • socalbeachdude

    Beijing wins yuan battle…will it lose the global currency war?

    China’s Overnight Borrowing Rate Hits 42.8%

    China’s surging yuan defeats short-sellers by hitting a 6-month high versus the US dollar as the dust settles after Moody’s credit downgrade.

    The corks should be popping on bottles of champagne at the People’s Bank of China, if Beijing’s policy goal was to defeat investors who dared to bet on a cheaper yuan after Moody’s recent downgrade of China’s sovereign credit rating.

    If any speculative forces were attempting to short the yuan, the currency did indeed put them in their place by surging to a six-month high against the US dollar in the Hong Kong offshore market, aided by a behind-the-scenes push from China’s central bank. The Hong Kong offshore market is said to be more sensitive to market forces than its onshore counterpart.

    As a result, the overnight yuan interbank borrowing rate has shot up to 42.8 per cent, an unhealthy sign for the yuan market. Beijing’s meddling in the yuan exchange rate also sends a signal that China is moving away from a promised “clean” floating exchange rate system.

    http://www.scmp.com/news/china/economy/article/2096587/beijing-wins-yuan-battle-will-it-lose-global-currency-war

  • socalbeachdude

    PANIC BREAKS OUT INSIDE PBOC IN CHINA

    Extreme panic has broken out inside the PBOC inside China over the past week. The PBOC (People’s Bank Of China) is the central bank of China and their equivalent to the Federal Reserve. The PBOC has jacked up the overnight interbank borrowing rate to 42.8% which is equivalent to the Federal Reserve raising the Federal Funds Rate which applies to overnight interbank borrowing up to 42.8%.

    Many crises are going on inside the Chinese banking system and financial markets and that is where the epicenter of the global financial panic and collapses will be occurring which will affect the entire global economies.

  • Realist

    Hey SnodtBlossom,

    Are all those posts from the bottom of your Heart?

    Or the heart of your Bottom?

    • socalbeachdude

      Why yet another inane ad hominem snark from you?

      • Realist

        Heartily.

  • Realist

    SnodtBlossom is living proof that scum can get up and walk.

    • socalbeachdude

      Do you not have any substantive comment at all that you can contribute to the discussion here?

      • Realist

        Alas, have we come to realize the true identity of SnodtBlossom?

        • socalbeachdude

          Huh?

  • mtntrek3

    Horribly drastic cuts or astronomical tax increases. Either are a death knell to our economy/country. We’re to the point, or past the point of event horizon. John 3:16. Matthew 6:19 & 20.

    • socalbeachdude

      Yes, those are precisely our choices as a country in the USA or a blend of the two approaches. There is no other way to move forward.

    • Carl

      You could have posted that without the irrelevant bible verses.

      • mtntrek3

        The eternal is much more important than this temporal world.

        • socalbeachdude

          Well, it may be to you and some others but that kind of thinking sure doesn’t do a thing to sort through the financial morass facing America and the global economies.

  • Stuey

    Great responses! And thanks for the link concerning JFK’s executive order. And i can already tell you what socaldude is going to say about the Fed audit. He has said numerous times they are audited every year.(by themselves i suppose, haha)

    • Chuck Morrison

      An in-house audit means nothing, but a comprehensive Congressional Audit will mean nothing as well if Congress isn’t willing to admit the existence of, much less reveal the location of, the second set of books you know must surely exist.

      • Stuey

        Very true. The problem is i am afraid the Congress is in bed and/or afraid to go against the Federal Reserve and a real audit will probably never happen.

  • Matthew Chen

    Trump, as an astute businessman, intuitively knows that the United States, weighed down by a $20 trillion funded National Debt plus a $211 trillion unfunded debt, is essentially a bankrupt, according to Dr Ben Carson and Prof Lawrence Kotlikoff of Boston university.

    Another $8.5 trillion cannot be accounted for in the Pentagon.

    That is why Trump pulled out of the Paris Climate Accord to save paying for America’s share of the bill and he scolded EU states for not paying their fair share of the expenses of Nato.. He is also trying to save money by lowering the number of Americans eligible for food stamps, which currently totals about 45 million Americans. If he can he will also stop paying the majority share of the United Nations’ expenses.

    He is going to repeal Obamacare to reduce the health insurance cost to the US Govt and this will deprive about 21 million Americans from affordable health insurance, to save money to pay for the expanding US military budget.

    Vice President Pence even had the temerity to ask South Korea to pay for the THAAD system deployed there. Japan has been told by Trump to pay for more for its defense.

    Like Ancient Rome, America is now engaged in wasteful endless wars overseas, costing trillions of dollar to US taxpayers while rural America is deep in an economic depression, and while China is launching the multi-trillion dollars Belt & Road Initiatives to build infrastructures in Eurasia and expand trade throughout the world.

    And when the money runs out when the US dollar is no longer the world’s reserve currency, as the Chinese yuan will be backed by gold in the future, the US will go south of the border down Argentina way. A veritable bankrupt, financially and morally. This cannot be too far down the road.

    • socalbeachdude

      Absolutely inane and totally clueless and bogus assertions as to the US dollar and China.

      China has GROSSLY ABUSED THE PROCESS OF MONEY CREATION over the past 10 years and has increased its money supply by more than $30 trillion from less than $3 trillion to more than $34 trillion with the value of its currency, the renminbi (RMB / yuan) NEARLY ENTIRELY PEGGED TO THE VALUE OF THE US DOLLAR with very minimal float which is CHEATING TO THE MAX in the global currency markets.

      Now, that game is all coming CRASHING DOWN FOR THE EGREGIOUS MONEY PRINTERS INSIDE CHINA who have turned their currency into worthless monopoly money and created a sea of debt as far as the eye can see.

      China has a huge debt problem. How bad is it?

      Credit rating agency Moody’s downgraded China this week, warning that the country’s financial health is suffering from rising debt and slowing economic growth. It’s the first time the agency has cut China’s rating in nearly three decades.

      Fears about debt levels in the world’s second-largest economy have been flagged before. The International Monetary Fund pushed Beijing to “urgently address” the issue last year.

      http://money.cnn.com/2017/05/25/news/economy/china-debt-economy/

      China debt ‘could prompt $7.7 trillion asset sale’

      http://asia.nikkei.com/Politics-Economy/Economy/China-debt-could-prompt-7.7-trillion-asset-sale

      BANKING PANIC BREAKS OUT INSIDE PBOC IN CHINA

      Extreme panic has broken out inside the PBOC inside China over the past week. The PBOC (People’s Bank Of China) is the central bank of China and their equivalent to the Federal Reserve. The PBOC has jacked up the overnight interbank borrowing rate to 42.8% which is equivalent to the Federal Reserve raising the Federal Funds Rate which applies to overnight interbank borrowing up to 42.8%.

      Many crises are going on inside the Chinese banking system and financial markets and that is where the epicenter of the global financial panic and collapses will be occurring which will affect the entire global economies.

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