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The Election Of Donald Trump Is Already Having An Enormous Impact On The Economy

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donald-trump-and-barack-obama-in-the-oval-office-public-domainThe election of Donald Trump has sent shockwaves through the U.S. economy and the U.S. financial system.  Since November 8th, the Dow has hit a brand new all-time record high, the U.S. dollar has strengthened greatly, and bank stocks are way up.  But not all of the economic news is good news.  Unlike stocks, bonds have reacted very negatively to Trump’s election victory.  The past week has been an absolute bloodbath for bond traders, and as you will see below this is going to have dramatic implications for all U.S. consumers moving forward.

Over just a two day period, more than a trillion dollars was wiped out as bond yields spiked all over the globe.  As CNN has noted, this type of “violent reaction” in the bond market has only happened three other times within the past ten years…

The rate on 10-year Treasury notes has surged to 2.3%, from 1.77% before the election. Last week’s spike in Treasury rates was so big, that it had only happened three times before in the last decade.

BlackRock’s Russ Koesterich called it a “violent reaction.”

The move stands to have broad repercussions for all Americans. Not only will the U.S. government have to pay more to borrow money, but mortgage rates and car loan costs should also rise. That’s because Treasuries are used as the benchmark for many other forms of credit.

As interest rates rise, virtually everyone in our society is going to feel the pain.

Those that need an auto loan in order to purchase a vehicle are going to find that loan payments are significantly higher than they were before.

Credit card rates will also go up, and those just getting out of school will discover that their student loan payments are even more suffocating.

But the biggest impact will be felt in the housing market.  The average rate on a 30-year fixed mortgage just hit the psychologically-important 4 percent barrier, and that could mean big trouble for the housing market in 2017

The average contract rate on the popular 30-year fixed mortgage hit 4 percent, according to Mortgage News Daily, a level most didn’t expect to see until the middle of next year. Rates have now moved nearly a half a percentage point higher since Donald Trump was elected president.

“The situation on the ground is panicked. Damage control,” said Matthew Graham, chief operating officer of Mortgage News Daily. “People were trying to lock loans quickly last week and are now facing a tough choice to lock today or hope for a bounce. Many hoped for a bounce last week heading into the long weekend and we obviously didn’t get it.”

Rising interest rates was one of the key factors that precipitated the financial crisis of 2008, and many fear that it could happen again.

And without a doubt, this rise in rates is going to affect the affordability of homes that are already on the market

“If you’re going to buy a house and your mortgage payment went up by $200 or $300, you may buy a smaller house. There’s impact on interest rate sensitive sectors, like autos and housing, and also corporate bonds themselves, where financial engineering has helped juice up the equity market,” said George Goncalves, head of rate strategy at Nomura.

In addition, rising rates will make it more difficult for those with adjustable rate mortgages to keep their homes.  Foreclosure activity was already up 27 percent during the month of October, and many are projecting that we could see another giant spike in foreclosures during the months ahead that is similar to what we saw during the last financial crisis.

Many Trump supporters don’t really care what the rest of the world thinks of our new president, but this is an area where what the rest of the world thinks really, really matters.

The truth is that the rest of the planet is not all too fond of Trump, and if that makes them a lot less eager to lend us money that is a major problem.

The only way that we can maintain our massively inflated debt-fueled standard of living is to continue to borrow gigantic mountains of money from the rest of the world at ultra-low interest rates.

If the rest of the world starts demanding higher rates of return now that Trump is president, we are going to experience economic pain on a scale that most Americans don’t believe is possible.

One of our big lenders has been China, and right now they are deeply concerned about what a Trump presidency might mean.  Trump has talked very tough about trade with China, and the Chinese are gearing up for a major trade war.  The following comes from CNBC

During his election campaign this year, Trump spoke of a 45 percent import tariff on all Chinese goods while failing to outline how it would work. Should any such policy come into effect, China will take a “tit-for-tat approach”, according to an opinion piece in the Global Times, a newspaper backed by the Communist party.

“A batch of Boeing orders will be replaced by Airbus. U.S. auto and iPhone sales in China will suffer a setback, and U.S. soybean and maize imports will be halted. China can also limit the number of Chinese students studying in the U.S.,” the Global Times article read.

Most Trump supporters assume that since Trump has been a very successful businessman that he will be able to strengthen the U.S. economy.

But it isn’t that simple.

The only reason we are able to live the way that we live today is because we have been able to borrow trillions upon trillions of dollars at irrationally low interest rates.

The moment the rest of the world decides that they are not going to loan us money at irrationally low interest rates any longer the game is over, and it won’t really matter who is in the White House at that point.

So watch interest rates very carefully.  If they keep going up, it is inevitable that a major economic slowdown will follow no matter what economic policies the new Trump administration implements.

  • mleblanc138

    Crash and burn house prices, crash and burn. Houses go sky high while wages remain stagnant, not sustainable. Time for a correction, an excessive correction.

    • anonymous

      You’re right. Housing bubbles, education bubbles (college degrees with no jobs), automobile bubbles, credit card bubbles, pension bubbles. Bubbles, bubbles everywhere.

  • Genada

    To lose weight you have to take some pain. Eat less, work out. Same goes with making our economy work for Americans. We are going to need to take some pain to be able to improve the economy and make it work for every American and not just the top.

    The rates had to go up, they couldn’t really go down anymore and it’s going to have some negative impacts but those impacts are due to living beyond our means and making bad choices. Now we will need to pay for that a bit.

    Lack of lending from others will require us to produce at all and that’s a good thing. Producing at home will lead to more jobs and make us less depend on others less.

    Then the final major truth about the world economy is and you have detailed many times is that the world’s debt is far in excess of what can be payed. It’s time for write downs and admit this. Then after the pain of that to put things in place to prevent this from happening again.

    • retired22

      Ultimately we have them all by the gonads.
      With the EU sinking into bankruptcy America will be the last major consumer market left standing
      The American consumer economy is over 70% of the total economy!
      The exporting nations have no where else to sell their consumer products & raw materials,they will need to keep the American economy afloat!
      As for the debt,it will never be paid,it will be rolled over indefinitely.
      Also,…there will be financial chaos around the world when America drops the hammer on the outside world.
      Most of the big money from outside will be drawn to America for security,…South Florida is already a haven for wealthy Venezuelans who had money parked here for hard times in their homeland.California is in a similar situation with offshore Chinese wealth!
      Most of the world is part of a global financial system based on American dollars as the world’s reserve currency.A large part of the world are,in effect, provinces in an American financial empire,.America is their banker,they can’t extricate themselves from the Dollar & America.

      • anonymous

        Not true. China has a growing consumer market. Americans are becoming to poor to consume. A lot of people are living off of government assistance, including the aging population living off of social security. Just wait until China and Russia team up to create a new world reserve currency. Or we all get sold out, welcome a new world government and currency.

        • ter ber

          You hit the nail on the head.

        • awb22

          We don’t need Russia, China or their hegemony. The reason we fight proxy wars is to challenge their livelihood, ours is not threatened. Starting with Reagan, this has been an imperialistic ambition for profit while the fruits have accrued at the top. As a whole, we would be better off with the USD not the world’s reserve currency, and we establish our own industry.

          • anonymous

            What would that industry be? What do we make that people want? Movies? Adult Film? Weapons? War? We have become a useless nation.

          • retired22

            America is the last mass consumer market standing,the rest of the world will sell their raw materials & finished product here or they won’t sell them at all!
            There was an old saying
            “If you owe the bank $1,000 & can’t pay you have a problem,…If you owe the bank $10 million the bank has the problem!
            We are ahead of the world in the credit game,..they need to give us new goods in the hope of collecting old money,this revolving credit business can go on indefinitely.
            When we finally cannot pay,we default & tell our creditors to kiss our posterior,in a very diplomatic way of course!
            This is not pretty & not what is taught in business school & it is not what I approve of.
            This is how the game really works,..this is reality!

          • GSOB

            At the end of every seven years you shall make a release.

          • awb22

            I don’t know, what are you good at?

          • anonymous

            Started in Fast Food. Then, I served in the US Army repairing military radios. Then got into computer repair as a civilian until the dot com bust. Then got into wrenching as a mechanic at a car dealership until gas prices went through the roof and everybody started selling their big trucks. The dealership I was working for went under. Then, I got into construction until the housing market started slowing down. Now I do everything and anything to feed my family as a handyman. Why? What do you do?

          • awb22

            In the first place, it doesn’t sound like you’re anywhere near useless.

            My point is we don’t need China or Russia. Sure, some trade is necessary, but starting with Reagan our jobs have shipped overseas to exploit cheap labor and left our economy in ruins. How do you suggest we rebuild? Hopefully, it won’t take a collapse before we start, but the US Constitution is a good starting point.

            I build cloud web applications working in the public sector. I could work in any vertical industry, government jobs are currently the most stable. I can compete with anyone in the world at what I do.

          • GSOB

            God Bless America

      • BATTLE LOG

        I agree. China has zero leverage over us. They need us to buy their crappy trinkets. If we go down, they go down

        • Sam

          Sounds like Mutually Assured Destruction..
          At least some leverage in both directions. Many variables here but which have the most impact and probability.

        • Brian Niziol

          Making trinkets is better than making war. I am sure there will be screaming cursing and violence but America is done. All you have to do is look on the road and see who is selling cars and go into the stores and see what is on the shelf. I am sitting in our server room right now and everything is made in China. We are talking over 500,000 dollars in hardware. America is not even in the game. Drink some more kool-aid because no matter how hard you work your wages will fall and the rich will keep getting richer. That is what America now stands for.

      • socalbeachdude

        The EU is certainly not “sinking into bankruptcy” and its total government debt is less than 100% of its GDP whereas US government debt is now around 110% of US GDP. The US dollar accounts for about 83% of global transactions and about 63% of global currency reserves and there is no other currency that can in any way challenge the US dollar. The US dollar is soaring in value and hit 100 on the DXY on Monday, November 14, 2016.

    • anonymous

      I get that, but should we all suffer for the greed of the few. What happened to too big to fail, bailouts for the 1%. There is no bilge pump big enough to save this sinking ship. Do you think we could ever become competitive in the world markets again when all our manufacturing jobs have been shipped overseas? The only solution is the one we always fall back on, war….

      • socalbeachdude

        Nope. War just MASSIVE INCREASES GOVERNMENT DEBT and is certainly no solution whatsoever to economic crisis.

        • Liberty First

          And if we have a war, I will not be playing. No more overseas quagmires. No more, No way.

        • anonymous

          Unless we go in and take resources. Or bomb a country we owe money to into oblivion. You must have low self-esteem to be up-voting yourself all the time.

  • Paul Anders

    Bottom line, is one day soon this house of cards is coming down…Trump or no Trump. But if he can drain the swamp and get the political cesspool back on track, I think it’s worth the pain. Pain is coming sooner or later anyways…

    • retired22

      The main thing is to get rid of the Central Bankers & get a leash on the F.I.R.E economy,which is mostly huge overhead & is sucking the life out of the real productive economy!
      If it takes pain in the correction we will need to handle it if we want to turn the economic corner!

      • anonymous

        Right, like central banks are going to just give up their money and power to people who are too busy fighting each other. It’s just not going to happen, sounds nice. Like a fairy tale that politicians tell us before we go to sleep.

      • socalbeachdude

        Absolutely false. The Federal Reserve is one of the best and most important entities in the US and is the single largest contributor each year to the US government tax revenues at it rebates more than 94% of its profits each year to the US government which it has always done since its inception more than 102 years ago. That rebate contribution is now more than $100 billion annually.

    • anonymous

      It’s going to be the same old politics. Obama made the same promises when he was elected for his first term. Again, I knew nothing would change. Same old talk, different suit.

    • Sam Sam

      He may not drain the swamp, but he may skim some of the scum off the top.

    • TrueGrit

      I hope most of the pain is felt by the elite, Government workers, and liberal (Anti America) politicians

  • CASTIEL

    Screw the chinks….. screw those stupid and ignorant liberals…… screw the elites…….I hope they all burn…..

    • anonymous

      Wow…strong words there….why not just wear a white hoodie like your other brethren. You know there are legal immigrants who would die to defend this country. But not with attitudes like yours around. I’d rather leave this country and let you rot with your moonshine and crystal meth. Inbred hillbilly. You white guys just took over Native American lands anyway. So who owns America, really?

      • Sam Sam

        Leave the country…hmmm.. Scroll back up the page and look at the little red box on the right side that says, “Emigrate While You Still Can”. It’s an ad for relocating to Panama. (BTW, look up Boquete, Panama if you’re thinking about it.) Then you could be an ‘ex-pat’ with many others who are tired of America and see potentially devastating problems headed our way. But,…if things really hit the fan that bad wouldn’t the effect be global. Then you might be in a country, possibly communist, in a different but bad situation. Hmmm…

        • anonymous

          You’re right. I just took CASTIEL’s comment a bit too personal.

        • LIZ THE SHIZ

          Boquete, Panama is under constant NSA/CIA scrutiny , watch out for the sound of the Reaper / Predator drone it may be the last thing you hear

          • Sam

            Are ‘they’ hunting ex-pats? Then ‘they’ might be in Columbia, Costa Rica, Ecuador et al. How about Belize? And how did you find that out.

          • LIZ THE SHIZ

            are you kidding ,they are everywhere a Company faction feels that they can gain leverage on any situation

      • True Grit

        God! He created everything and allows us to live here a short while as a test

    • LIZ THE SHIZ

      I bet you miss the good old days when you worked for Pablo Escobar and El Chapo Guzman i just hope real mens responds with lead to those monkeys…….QUE????

      • CASTIEL

        Do you Know what Portugal means? Actually I hate those people…….

  • Scott

    Abolish the Federal Reserve.

    • anonymous

      Amen to that. That’ll bring the collapse real quick. I don’t think most people know that our government has been privatized. It hasn’t been for the people for a long time.

      • retired22

        I recall reading that there is “Nothing that the Fed. does that can’t be done by the Treasury Department”.
        This Central Banking Reserve System run for the benefit of private banks has been a swindle from the very beginning in 1913!
        We have been fed live to the bankers all these years by our reps. in Washington & the media that has been whitewashing it all of this time!

        • socalbeachdude

          The Federal Reserve is a quasi-public-private entity that is established and controlled by Congress and owned by its member bank shareholders. The Federal Reserve rebates more than 94% of its profits each year to the US Treasury and does not cost taxpayers a single penny to operate. In fact, the Federal Reserve is the largest single entity contributor to US government revenues with its rebate of around $100 billion per year.

          • retired22

            Don’t read official propaganda to me!
            The Fed is a monster that is sucking the life out of the productive economy!
            I don’t have the energy to quote all of the prominent insiders who were opposed to the leaches who are Central Bankers.
            If you wanted to look them up here is a list of names!
            Woodrow Wilson,Napoleon Bonaparte,Otto Von Bismarck,Reginald McKenna,Leo Tolstoy,Henry Ford,John Kenneth Galbraith,Andrew Jackson,Thomas Jefferson,James Madison,Abraham Lincoln,Theodore Roosevelt,…all detested the Central Bankers as destroyers of nations

            Lord John Acton the great political thinker said “The issue that has swept down the centuries & will have to be fought sooner or later is the people versus the banks”
            Sir Josiah Stamp who was the second richest man in Britain & president of the Bank of England stated in a speech
            ” Banking was conceived in iniquity & was born in sin.The bankers own the earth.take it away from them,but leave them,but leave them the power to create deposits & with the flick of a pen they will create enough deposits to buy it back again.
            However,take it away from them & all of the great fortunes like mine will disappear & they ought to disappear,for this would be a happier & better world to live in.
            But if you wish to be the slaves of bankers & pay the cost of your own slavery,let them continue to create deposits”.
            Sir Josiah Stamp 1927.

            All of these wise thinkers opposed the Central Banks.
            Do you believe they were fools?

          • socalbeachdude

            Where on earth do you come up with such utterly bizarre and totally false notions regarding the Federal Reserve?

            Those names have nothing whatsoever to do with the operations of the Federal Reserve. The Federal Reserve System essentially operates as a NOT-FOR-PROFIT entity as it rebates more than 94% of its annual profits each year to the US Treasury and its taxpayers. That now amounts to nearly $100 billion of income for the US government which essentially makes the entire $2.5 trillion portfolio of US Treasuries held (owned) by the Federal Reserve INTEREST FREE.

            The Federal Reserve system does not cost the US government or taxpayers a single penny and is one of the best and most conservative central banks in the world and provides a vast array of services with the most important being interbank clearance of transactions through its 12 regional banks without which the entire banking system in the US could not even function.

          • retired22

            the Federal reserve is THE Central Bank that owns America!
            You are telling me that The consortium of private banks that own the FED. are working for nothing,they are just doing good things for our economy because they are good hearted fellows?
            Either they pay you as a shill & propagandist for this trash,…you are demented,…or you think that the people who read your nonsense are nitwits who will believe anything!
            Or,perhaps, a bit of all the above!

          • socalbeachdude

            No. The Federal Reserve certainly does not “own” America at all. The total assets of the Federal Reserve are only around $4.5 trillion, which total assets in the US are estimated to be around $180 trillion. Moreover, the total net worth (capital / equity) of the Federal Reserve is only about $60 billion which is all that is left over when liabilities of the Federal Reserve are deducted from its assets.

            There are around 7,000 banks in the US and most all of those are PUBLICLY LISTED CORPORATIONS owned by a vast array of shareholders. Most are member banks of the Federal Reserve which is also responsible for regulating those banks in conjunction with Congress and agencies such as the Comptroller of the Currency (OCC). Their ownership, structure, assets, and other matters are entirely separate issues from the Federal Reserve itself.

            Member banks of the Federal Reserve earn a 6% annual dividend on their share ownership of the Federal Reserve and 94% of the profits of the Federal Reserve – now amounting to around $100 billion a year – is turned over each and every year to the US Treasury as has been the case for every year of the existence of the Federal Reserve.

          • GSOB

            Considering her history, you think she would she would have been better off without it?

          • socalbeachdude

            Huh?

      • socalbeachdude

        Nope, and that’s certainly not going to happen.

    • socalbeachdude

      What utter nonsense. The Federal Reserve does not charge interest to the US Treasury other than the interest it receives on US Treasuries owned by the Federal Reserve and then it rebates 94% of its total annual profits to the US Treasury making those $2.5 trillion or so of US Treasuries owned by the Federal Reserve entirely INTEREST FREE.

      The Federal Reserve does not cost US taxpayers or the US Treasury a single penny and contributes nearly $100 billion a year to the US Treasury which significantly helps offset the federal deficit each and every year.

      • awb22

        What utter nonsense, indeed! At the end of the day, we need to repeal the Federal Reserve Act of 1913 and repudiate the debt.

        How much is the interest payment on monetized debt? I’m sure it’s significantly more than $100B.

        Do us all a favor and stick to surfing.

        • socalbeachdude

          I would suggest that you learn about the Federal Reserve as you appear to not even begin to comprehend what it is and what it does.

          The Federal Reserve does not owe a single penny of the US government debt and has not run up a single penny of the US government debt. That was all been run up by Congress with $1 trillion having been run up from 1776 until 1981 and the other $18.5+ trillion having been run up from 1981 until present. And that debt is increasing at an amount of around $1.4 trillion a year and is entirely the responsibility of Congress which represents the American citizens.

          The current interest payments on the accumulated US government debt is around $250 billion a year and is about 6% of the annual $4 trillion federal expenditures but will be increasing rather substantially as yields (interest rates) rise on US Treasuries.

          The Federal Reserve only holds (owns) about $2.5 trillion of the $19.5 trillion in outstanding US government debt and that debt is essentially interest free to the US government as the Federal Reserve rebates 94% of its profits each year to the US Treasury – as it has always done since its inception) and that now amounts to around $100 billion per year in revenues to the US government.

          None of that debt was ever “monetized” as the Federal Reserve purchased EXISTING DEBT from its member banks as part of QE and none of the purchase funds went to the US government but rather are sitting in the excess reserves and primary reserves accounts of those banks inside the Federal Reserve.

          • Major Solutioil.com

            Sorry DUDE, we owe nearly 20 Trillion dollars to a privately owned central bank for the privilege of creating (complete sorcery) currency out of thin air instead of Congress doing it themselves as they are Constitutionally required to do. There would be no income tax if the Congress did their duty and abolished the Federal Reserve and took back the POWER of currency creation. The Fed is not a non-profit organization. They may only skim 6% off the top, but you missed the first profit… creating the “money” in the first place from nothing.

          • socalbeachdude

            No. The $19.5+ trillion of federal government debt is NOT OWED TO THE FEDERAL RESERVE, but rather only about 13% of it – around $2.5 trillion – is owned by the Federal Reserve. And that $2.5 trillion is ESSENTIALLY INTEREST FREE TO THE US TREASURY as the Federal Reserve rates more than 94% of its annual profits to the US Treasury each year as they have always done.

            The largest holder (owner) of US government debt is the US government itself through its various agencies with the largest of those being the Social Security and Medical Trust Funds which are required by US law to only invest in US Treasuries and the total amount of US government debt owned by the US government is around $6 trillion.

            That leaves about $13.5 trillion which is publicly held and of that less than $5 trillion is held (owned) for foreign entities including governments with the 2 largest holders being the governments of Japan and China with about $1.3 trillion each for a total of around $2.5 trillion. The full breakdown of foreign ownership is on the US Treasury web site.

            The balance of less than $9 trillion of US government debt is held by a vast array of entities including pension funds, money market funds, hedge funds, banks, individuals, and mutual funds to name the largest holders.

            As to income tax, that has nothing whatsoever to do with the Federal Reserve. The US government is now spending around $4 trillion a year, but only taking in around $3 trillion a year in federal income and payroll taxes leaving a deficit of around $1 trillion a year. In Fiscal 2016 the US government spending deficit was more than $1.4 trillion and the federal debt is now more than $19.5 trillion and increasing at more than $1 trillion per year.

            Currency can NEVER BE JUST PRINTED AND SPENT BY ANY COUNTRY to fund expenditures without totally debasing the currency and even suggesting doing that is absurd.

          • awb22

            How much do member banks like Goldman Sachs make each year selling US Treasury’s?

            You can play with the numbers all you like, the Federal Reserve is a central bank, owned by the stockholders of it’s member banks, and they make a lot of money by mere virtue of being closest to the center of money printing.

            All one has to do is look at where the benefit accrues, and we’re at depression era levels of wealth and income inequality domestically, and I suppose if one were to look, globally, as well.

            I suggest you pull your head out of your rear end and look around.

  • Bill

    Excellent article and comments. Keep your eyes wide open and ears tuned.

  • Pete Okuhira

    America is the new Roman Empire and it will collapse like a house of cards, never to be rebuild again. If you look at the world history, empires comes and goes. Similarly speaking, America’s day of reckoning has come. It’s time America pay the price.

    • anonymous

      Exactly. You’ve been making great comments but it’s too bad nobody can accept the truth.

    • JC Teecher

      America will have to pay a hefty price, just as Israel did in the past, for her sins of accepting a liberal agenda by the majority of it’s peoples.

      idol worship in it’s nastiest of forms is the worship of one’s self, above God.

      However; until the real King of Kings returns, American will see the cursings of it’s own makings, but will still be around for the Gog and Magog demolition, by God Himself, as He uses that situation to prove to a heathen majority, that “He” is still on the Throne, in Heaven, and is still faithful and true, by giving the heathen another chance to recognize Him.

      That does not happen for quite a few years yet.
      So meanwhile, the true Christians will not have it so bad, but the rest of the un-moral majority, is in for some really rough times ahead.

      People think the little stompy pants riots in the streets are something now, then they ain’t seen nuthin’ yet.
      Those that have built their dreams in Ivory towers of glass, will see those come crashing down, and some literally as the west coast has horrendous earthquakes.

      It will happen.

    • True Grit

      Rome still exists. Its just not an empire.
      So will the U.S. Just hopefully without the Emperors

    • GSOB

      What price and to whom?

  • anonymous

    The elite probably allowed a Trump win for someone to blame the riots on. Then steps in our fearless ruler, King Obama to save the world. Martial law declared. One world currency, blah blah blah.

    • Pacemaker4

      nah loook at the set up…female fed chair female IMF chair and a female potus… 3 financial patsies.
      trump is a lame duck already. crash <10months.

    • socalbeachdude

      Nope. Get a grip.

      • anonymous

        Like the grip you have on your c@ck. Stop jackin off and wake the f@ck up. B@tch

  • Luigi Amaretto

    Our Dooms day was coming in February 2017 anyway. We can not keep borrowing. Time to cut costs save money and pay back.

    • Sam

      Uh.. Why Feb 2017?

  • Thomas D Guastavino

    Wow, interest rates jumped in anticipation of an improved economy, not one that is barely chugging along on cheap debt that EC has been bemoaning as not sustainable. If we world can’t take a 2.3% 10 year bond yield then we are much worse off then I thought.

  • ter ber

    My first house I bought in 1982, I saved some money on my mortgage and assumed a VA loan from a previous owner at ~~11 1/2 %~~. The 2nd home I bought in 1985 was a brand new ‘track home’ (cookie cutter) and all the banks were offering was ~~12 7/8 %~~. I hardly think 4 % is a problem.

    • True Grit

      Not if house prices revert to 1982

  • Juri

    About those intrests…maybe it`s time to go after FED…???

    • df NJ

      There is never a time NOT to go after the FED!!!!

      • socalbeachdude

        Laughably false. The Federal Reserve does not charge interest to the US Treasury other than the interest it receives on US Treasuries owned by the Federal Reserve and then it rebates 94% of its total annual profits to the US Treasury making those $2.5 trillion or so of US Treasuries owned by the Federal Reserve entirely INTEREST FREE.

        The Federal Reserve does not cost US taxpayers or the US Treasury a single penny and contributes nearly $100 billion a year to the US Treasury which significantly helps offset the federal deficit each and every year.

  • df NJ

    It’s kind of hard to feel bad for the bond holders losing trillions. Besides, money is not the same thing as wealth. Money is like water it flows to nearest drains. Wealth comes from leverage, that is, the source of where the bond holders got their money in the first place. If you own 100 houses, the people paying you rent are going to do more work in one day than you can do in 3 months. That is why redistribution of wealth is simple not possible. Wealth comes from leverage. Money is water.

    • socalbeachdude

      Your conception of money is laughably flawed!!!

  • aliceinwonder

    As we recover from communism, there will be birthing pains for the return of a republic. We are presently on a crash course due to the Federal Reserve and this cannot go on. Will there be suffering? Yes, indeed there will be. But labor pains are necessary for the birth of a child…..and so it is with the country.

    • sister soldier

      Amen and as with the birth of anything if the labor pains do not produce life then they will produce death and the fetus is then stillborn. Which is the most difficult of all births and is eerily similar to what DC is trying to accomplish now and that is to produce a viable nation after the heartbeat has flatlined because of the wages of sin which is death.

      • Bill G Wilminton NC

        Trump Is Going To ATTEMPT To Drain DC…..Can You Get It….This Could Be Your Next ” Immortals ” Comic Book !!!

        Jox Already Covered This With You…When Do You Get It

        • sister soldier

          Nope. Didn’t read anything “Jox” posted and the only reason I tolerate you is because you are a baby in Christ and it is my Christian duty to tarry with you. Also I think you are a little touched…….. lights on but nobody’s home.

    • socalbeachdude

      The Federal Reserve has nothing whatsoever to do with what you are talking about and is one of the most conservative central banks anywhere in the world. The FISCAL PROBLEMS OF THE US GOVERNMENT and its vast overspending are the real financial issues facing America today. For Fiscal 2016 ended on 09/30/2016, the US Treasury racked up a deficit (additional debt) of more than $1.4 trillion and the total outstanding on the federal debt soared to more than $19.5 trillion and that federal spending MUST BE REIGNED IN DRAMATICALLY – or taxes must be increased dramatically – or some combination of those two approaches implemented in order to bring down the federal deficit significantly.

  • XSANDIEGOCA

    It will a good thing for Savers to get a decent return on their Savings for a change and for the bubble on Wall Street to suffer some deflation.

    • socalbeachdude

      The Federal Reserve only sets 3 interest rates and they have NOTHING WHATSOEVER TO DO WITH THE INTEREST PAID ON SAVINGS ACCOUNTS. The issue with interest rates paid on savings accounts is that demand for borrowing at banks is near record lows and the loans outstanding ratio to deposits is only around 67% and until and unless that changes banks will not be paying higher interest rates on savings accounts as they have no desire at all to have more depositors’ money.

  • XSANDIEGOCA

    Janet, have you updated your resume?

  • Bubba Johnson

    Seems like keeping interest rates at near 0 was kinda stupid there guys and gals.
    You reap what you sow.

  • sister soldier

    So now we hold Trump’s feet to the fire? Where were all of these warning signs before Trump was elected? He could do no wrong and had all of the answers according to some. So by the admission of some media outlets that ran an “honest Abe” Trump campaign it isn’t that simple to fix the economy or the myriad of other ills that are plaguing our society. It would take four decades just to undo some of what has been corroded by previous policies let alone attempt to disembark from the global commerce ship without repercussions that will detrimental to America. Even Trump would lose on that deal seeing that a good percentage of his “brand” is sold overseas as well.

    Our economy is currently deeply linked to the rest of the world because we now live in a GLOBAL economy and you can’t just close up shop without sending shockwaves around the world. Millions of Americans undocumented or otherwise work for companies that sell imported goods and products manufactured here in our country. An increase in tariffs on our foreign trade partners would be like a wrecking ball on an already wobbly economic structure. The impact on global supply chains would force millions more into the unemployment lines. And how would our foreign counterparts react to said “grossly inflated new tariffs”? By retaliating against American exports and they would be well within their rights unless Trump dismantles or renegotiate all trade agreements. How long will that take? And to what expense? America is now a Trump brand and that should make him a multi trillionaire. As for the poor among us……. not so much.

    Four years is just enough time for Trump to read the lengthy constitution and all of its amendments and then interpret it’s meaning. Another four years to realize why the Affordable Care Act cannot be repealed in its entirety because they (congress) still doesn’t know what’s in the bill and its many implications on society with any certainty. But I remain hopeful and I’m waiting patiently for Trump to walk on water or call fire down from heaven whichever comes first. Because if he can deliver all that he has promised and to the extent that he has promised those things…… he is indeed an immortal.

    • JC Teecher

      Good post, Sister Soldier; and btw, I am glad to see your old moniker back, as sister deplorable was not looking good on you. lol

      I agree with what you have stated about Trump, but the absence of a Trump as potus, would have meant that we would see, sooner than later, an increase in abortions, an increase of special rights for lbgtq groups, and massive amounts of red ink added to the already massive amount added on under the Obominable’s administration.

      The burden of debt is already past the point of no return.
      We are bankrupt, and are just using fuzzy math to make things look “palatable”.

      The proverbial chickens have come home to roost, and thank God, we at least have some hope of being able to hold off the crash and burn of the coming economic collapse…………possibly.

      The only buffer, if one can call it that, is on a personal/individual/ family unit economic plan which first and foremost has Christian values at it’s core.
      Real Christian values based on God’s written Word, and not the Joel Osteen brand of Christianity whereby people live by a tickling of the ears, prosperity message, and not getting any meat off the proverbial bone.

      I have been hammering out the message of “get out of debt”, now for ten years. Getting out of personal household debt, and stocking up for lean times, is the only sound biblical advice that matters in the days ahead.

      I was lying in bed this morning about 5:00 am, and seeing the brightness outside through the sides of the curtain, and thinking about the signs in the Supermoon. As True Christians, we are people of light, of the sunlight. We are not people of fading light as in the moon. Is it any coincidence that prophecies concerning Satan/Antichrist, is always given in months, as is recorded by moons…aka Lunar. Where did the term “lunatic” come from? Lunar.

      We are not lunar-tics, but Satan’s followers are.
      We need to use this time of change in the mortal and spiritual shifting, as a reason to change from walking in darkness of debt, to walking in brightness of life, free of debt.

      If I lived within the confines of a major city, and had huge amounts of mortgage debt, and also un-needed vehicle debt; I would be working overtime to sell,sell, sell, because there is coming a day/time very soon, whereby one can’t sell, and without cash to pay the mortgage and car payments; living under a bridge and begging for food could be the order of the day.

      I had rather be paying rent, and let the landlord deal with the coming 100% rises in property tax burdens, and have some preps, than a big mortgage burden, that may easily be taken away from me, by banksters.

      • sister soldier

        Nice post. I agree and in summary only what we do for Christ will last. All other work is burned. What does not survive the refining fire count it all lost but to the glory that our souls may saved.

        Yes the prophetic events are determined by months as in the (30 day) timetable. And just as the moon may shine brighter than usual today and has been called blood red at other times because of the phenomenon known as eclipsing it is relevant to the Church and spiritual seasons.

        The Bible is replete with exhortations in admonishments for benefit of believers that we must not be like the world around us with regard to blindness, spiritual darkness, hatred and hostility, without natural affection, failing to search the word of God to see if these things are so. We must walk as those who understand what life in the Word is all about by reflecting Christ in us for others to see just as the moon gives light to the earth we are also light in the darkness by which unbelievers perish.

        The Church which is a living breathing organisation and not a “501c3 for profit business” as some would dare to believe in the holy dollar rather than the Holy God is casting a shadow over the One who is the only Light to a dying world. Are we now eclipsing the Son of God? Did the Lord not say, “You are the light of the world. Let your light so shine among men that they may see your good works and glorify your Father which is in heaven,” ?

        Eclipses are also types and shadows of spiritual things. A lunar eclipse briefly causes the moon to cease from shining it’s light and in like manner the church loses its light when earthly values and earthly ambitions obscure the face of Jesus Christ. And that is where we find ourselves today in the middle of a famine from hearing the word of God. Whether it is by ears that have grown dull from a watered down gospel or by the church attempting to replace the work of the of the Holy Spirit that is now being accredited to the work of the individual based on inherent rights being illegally obtained through plundering the faith.

        Many times in history people who claim to be of God have forgotten the discipline that we are not make friendship with the world because it is enmity with God so we continue to become more worldly entrenched. Today’s portrait of the church from the outside looking in shares all of the same worldly values with the same goals, purposes and relaxed standards. So the world is looking inwardly for the answers to fill the void that should be the work of the Holy Spirit. The light of the church is going into full eclipse. If we lose our light or our witness of who God is and His Son, Jesus who is the Christ, then the world loses its light and plunges into darkness.

        A solar eclipse is type and shadow of what happens when the church becomes independent of the Holy Spirit and more important than the Lord who died for it. Thereby when the eyes of the believers are focused upon the building and not the Cornerstone that the builders rejected the building begins to obscure the glory and the sight of those looking for salvation and thusly it eclipses the Lord who gave Himself a ransom for it.

        Indeed they both, the sun and moon, measure time and heralds seasons of change. Mankind for millennia has likewise turned to these events to see how long their troubles will continue rather than marking the events as a time of a heavenly conversation that God is having with His creation and that He is extending a sign of great mercy and deliverance for His people.

        • JC Teecher

          wow sister, that is such a spiritual uplifting message.

          Just to add…………..

          This is not a time for true Christians to gloat and crow, for we know what is really on the horizon.

          I see it also as you, and a time of taking the high road, to stay on the path.
          A time for intercessory prayer for the lost liberal souls that are making a defiant stance for liberalism and worldism.
          We can’t talk to those that have a worldly vision of their future, so we must prayer that they are humbled by the spirit to receive convictions, that may or may not cause them to step back, and take a look at what they are doing to each other, and to the people that only want to see them become believers.

          We must discern where we are casting our pearls before swine, and turn the wasting of time, to compassionate prayers.

        • Bill G Wilminton NC

          Your Godly Eloquence Is Much Better Served When You Do Not Mention The Name TRUMP As In This Missive…

          • sister soldier

            I will talk about Trump whenever I get ready. You Mr. Wilminton have no control over me. I would be glad to discuss the Word anytime but you keep bringing Trump to my attention. He does not own me and my service and duty is to God alone. On Christ the solid rock I stand all other ground is sinking sand. The funny thing about you is that people can insult God all they want to with you and you don’t bat an eyelash but the minute they insult your god Trump you lose grip on reality.

      • Bill G Wilminton NC

        Well Said Especially About Trump…..

    • jox

      Changes don’t come without pain. That doesn’t imply that such changes are not necessary.

      And of course Trump is not immortal. That one is Obama, the Nobel Prize of Peace, a semi God, even if is actually bombing several countries and killing thousands of people without trial with drones.

      • Bill G Wilminton NC

        Well Said…..But Certain People Do Not Listen !!!.

    • Bill G Wilminton NC

      Trump THIS Trump THAT…..You Are Consistantly Pathetic !!! YOU Just Cant Help Yourself!!! lol…..

      Watch Trump Save The Babies!!! And He Doesnt Have To Walk On Water To Do That…..Just Nominate The Right Supreme Court Justices…..

      Trumps FIRST Supreme Court Nomination Will Be In January…..Can Ya Handle It lol,

      • sister soldier

        I think you have a bromance with Trump that is very unmasculine.

        • Bill G Wilminton NC

          Comedy Show Script Writer Also……

          • sister soldier

            Let’s entertain your Cyrus argument shall we? I have heard your argument several times and I do not deny that God will not use evil men for the day of evil but the danger is that some are seeing the good only and not the evil. Yes, God has raised up wicked men for the sole purpose of performing His will in the earth. He also raised up Hitler to fulfill prophecy. I would go along with that were it not for the fact that Donald has reneged or modified just about every political promise. Dismantling EPA, Repealing (ALL) of the Affordable Care Act, moving the American Embassy to Jerusalem, the Wall (now a fence), the climate change that France and the UN said as of yesterday cannot be undone! and they mean it. Also several other key campaign promises that helped him to get elected. He most likely found out shortly after arriving at the white house which is built on Satanic design that evil is there and it’s waiting for the right empty soul to lead the devil’s campaign.

            America is not exactly; actually far from repenting for her sins. He cannot repeal gay marriage and other wicked laws because he cannot legislate morality. America’s problem is spiritual and it is rooted in sin. Without national repentance the only thing we should expect is JUDGMENT not JUSTICE unless it is the justice of God. For Trump to even begin making inroads into the designs that the globalists have laid for centuries would take more than his lifetime. Yes, God is involved in the affairs of humanity but what He wants is for mankind to serve Him. But we rejected Him. We want Him out of our laws, out of our schools, out of our businesses and out of our lives. So He will give us leaders after our own hearts and if you know the heart of America you know that it is evil. Just look at the hate this election has brought to surface.

            I pray that our nation is able to survive this and move forward in peace but I did not read in God’s word where that is coming. A false peace 3 1/2 years but then all hell breaks loose. My prayer is and will remain that the Lord’s will be done in earth as it is in heaven because God is the one we should have been prostrating ourselves to but we missed the mark and calamities are allowed to provoke repentance. Without God in his own life directing his thoughts Trump is a dangerous man who believes he needs no forgiveness. How can he then have mercy? One cannot as it is not possible to issue mercy without the need or conviction for one’s own forgiveness and so goes our punishment.

            2 Chronicles 7: 13-15 “If I shut up the heavens so that there is no rain, or if I command the locust to devour the land, or if I send pestilence among My people, 14 and My people who are called by My name humble themselves and pray and seek My face and turn from their wicked ways, then I will hear from heaven, will forgive their sin and will heal their land. 15 “Now My eyes will be open and My ears attentive to the prayer offered in this place.…”

  • LIZ THE SHIZ

    I hope he is able to eliminate all the anti- business regulations and illegal executive orders that Obama put through to advance his NWO Socialist agenda and to repatriate all the trillions of corperate money held offshore so these companies will hopefully re-invest in the U.S even though most jobs will be taken over by automation. I’m sure there will be a lot of push back from the 1% elites and the SJW Snowflakes because their reality will be challenged by a renewed American Dream.

    • Sam

      Thanks Liz…He said he would reverse all the bad EO’s of Obama. At least we’re off to a good start.

  • Elizabeth

    Monopoly…..and we are the participants

  • jox

    I don’t understand how can the dollar go up, meaning a global interest on buying dollars, as treasuries go down at the same time. Can anybody explain?

    • sister soldier

      Probably not without lying.

    • Jerry C

      The U.S. Dollar is the best of the worst.

    • socalbeachdude

      The US dollar is soaring against other currencies and on the DXY which is a basket of currencies for a variety of reasons and is now around 100 on the DXY. More than 83% of all global transactions are done in US dollars and US dollars account for 63% of global currency reserves. There is no other currency that even comes close to the utility and predominance of the US dollar which is more in demand than ever before which is a key reason why it is rising so dramatically.

      As to US Treasuries, they are essentially bonds (bills, bonds, notes, and TIPS) and the prices of bonds are inverse to the yields (interest rates) on bonds. Yields are rising very dramatically on all bonds in the US and globally as RISK IS BEING PRICED IN and so the prices on those bonds are falling correspondingly.

  • Jeff Pearce Sr.

    America has lived off a false economy. Like children, they will kick and scream they now have to eat their broccoli. It’s healthy, but doesn’t taste sweet.

    • GSOB

      You got a rich man in the drivers seat who won’t take the pay. What more can you ask for?

      • Jeff Pearce Sr.

        Are you suggesting my comment is negative of Trump? If so… WRONG. My comment is negative of a soft, slovenly, spoiled America. Pick a line from the quote below. Where would you place the Republic today?

        Lifespan of A Republic:
        From bondage to spiritual faith;
        From spiritual faith to great courage;
        From courage to liberty;
        From liberty to abundance;
        From abundance to complacency;
        From complacency to apathy;
        From apathy to dependency;
        From dependency back to bondage.
        Alexander Tyler — Scottish History Professor — 1887

        • GSOB

          more like fascism

        • Sam

          Always liked this illustration. Haven’t heard it in a while.
          It’s hard to place us in any one spot. We seem to have so much of it going on all at once in various degrees. Basically a big mess. Let me take a bit of poetic license here… If we don’t have the courage to fight for our liberties we will end up in bondage as slaves of our system.

        • ddearborn

          Hmmm

          Perhaps you should speak for yourself Jeff. The fact of the matter is that since 1979 US worker productivity went through the roof while US worker compensation didn’t even keep pace with the phony grossly understated “official” government inflation rates, let alone the real rates.

          We now have 500 people who literally have more wealth than the poorest 40% of Americans. 500 richest “Americans” have more money than the poorest 150 MILLION Americans combined. Given the finite nature of the economic “pie” that doesn’t leave much of anything left to pay for basic food, clothing and housing for all those “soft, slovenly spoiled” Americans. Consider as well that those 100 Million have been forced to compete with over 70 Million unskilled and semi-skilled immigrants that our government (those men) have allowed to pour across our borders to take those jobs at ever lower pay scales and reduced benefits.

          Put the blame where it is deserved Jeff. And I suggest you start with those 500 richest mostly men at very top and all the politicians, lobbyists and cronies that work for them and against the rest of America and working Americans. And yes that includes Mr. Trump.

  • True Grit

    “The only way that we can maintain our massively inflated debt-fueled standard of living is to continue to borrow gigantic mountains of money from the rest of the world at ultra-low interest rates”.

    1) Maybe it’s high time we learn to live within our means.

    2) If we need money we can just print it.

    3) If they don’t want to lend to The U.S. Maybe they’ll have better luck lending to Zimbabwe or Haitti

    “One of our big lenders has been China, and right now they are deeply concerned about what a Trump presidency might mean”
    When I was a kid, and did something real bad, My dad would go out to the yard and cut a switch off one of the trees. As he was trimming the leaves off of it I was Deeply concerned about what that might mean.

    • socalbeachdude

      China only owns about 7% of the outstanding $19.5 trillion in US Treasuries (federal government debt) and 93% of that debt is held by other entities and it doesn’t matter a hoot whether China continues to hold the US Treasuries in the amount of less than $1.3 trillion that it owns or not. The US Treasuries markets are a $13 trillion a year market which comprises the largest bond market in the world.

      The big issue now with US Treasuries is that their yields (interest rates) are soaring upwards and since prices of bonds are inverse to yields that means that the prices of US Treasuries is falling sharply which has resulted in losses to holders of over $1.2 trillion over the past week.

      The US government CANNOT JUST PRINT MONEY and only the Federal Reserve can do that and it has been very conservative with the US money supply over the past 8 years which has only expanded by about $4 trillion, unlike China which has increased its money supply of its renminbi (RMB / yuan) by around $30 TRILLION over the past 10 years which is the most unprecedented expansion of money ever seen in the world. Moreover, China’s economy is only about half the size of the $18 trillion a year US economy.

  • Rhino Horns

    America needs to repent of its sins, get rid of the central bank, shadow government, and most of the regular government, for starters. It will crash, but better to get it over with, rather than prolong the agony.

    • df NJ

      The problem is the people in power see it as virtue not sin.

    • Jerry C

      We can dream.

  • Priszilla

    Really? The £ gained against the $ but not against the €.

  • df NJ

    2016 is almost over. We haven’t seen the second coming of Christ. We haven’t seen a financial collapse. Although many of you are praying for death and mayhem, the beat goes on….

    • ALWAYSTOMORROW

      There’s ALWAYSTOMORROW df NJ. :-)

      • df NJ

        Lol! I’m holding my breath.

      • SurrealReality

        ALWAYS TOMORROW predicted a Clinton victory not once but many times on this very blog.
        Is anyone still listening to him? Why?

  • Richard O. Mann

    20 trillion in national debt by time Obama leaves office. That alone is enough to sink this country no matter who is in the White House. True also that we are running out of countries who will lend us money. Being on Social Security myself, I’m sure my monthly income is in major danger of going away, with nothing I can do about it. The Federal Government has been borrowing money to pay us for several years now. America. It was fun while it lasted.

    • df NJ

      Is 20 trillion a big number? What is GDP?

    • Bill G Wilminton NC

      Yes This Will Be Really Bad….But At Least With Trump At The Wheel Maybe The Collapse Will Just Be Catastrophic Not FANTASTICALLY CATASTROPHIC !!!

      But This Will Be Bad…..

  • tsf

    “Tis against some men’s principle to pay interest,
    and seems against others’ interest to pay the principle.”

  • JC Teecher

    If you use his whole name, it goes in a bin, for his viewing first.

    • Sam

      Thanks JC.. All help is appreciated! As you can tell I’m not an expert blogger. I told Michael to please delete the posts that asked about deleted posts…

  • buffalo lips

    You had to know – everyone should have known – that if Trump was elected, those behind the scenes at the levers of power in the myriad alphabet agencies and quasi governmental entities would drop the economy (stop supporting it with artificial stimulus and manipulation) like a hot rock. While the nation’s economy and culture really are on the trajectory of a gliding anvil, much of it having been concealed from the lumpen, just remember that none of it will be the responsibility of the next occupant of the White House. His policies did not create this. Look to people like Paul Ryan if you want to place blame for facilitating this outcome. It will be Trump’s truly thankless job to begin the clean up of an unmitigated monster of a mess created by previous Administrations dating back at least to 1990 – really dating back to LBJ.

    • Bill G Wilminton NC

      Well Said…..The FAKE Economy Wont Last Long….

  • df NJ

    Certain words trigger approval. Just don’t use those words. Works like donkeynation where the word donkey is the other one will trigger waiting for approval. Shiite used to be one but not anymore.

    • Sam

      Thanks djNJ, As you can tell I don’t avoid trigger words. Then, I think it throws off the flow of comments. And Yes, I’m still learning about blogs as I just discovered your reply 5 hours later. All help is appreciated!

    • Sam

      Yeah I saw that typo. dfNJ I’m in a dark environment and my glasses don’t focus too well up close. I’m lucky if I get it right the second time. How’s that for excuses?

  • df NJ

    At least we don’t have to look at a black president anymore. White people got their country back. Now if only the economy could only improve we can get 1960s back. I guess if you are not drinking water in Flint MI or a David Bowie fan it’s been a pretty good year.

  • Paul Benson

    To those who are reveling in the Trump victory I have a word for you: HERE COME DA PAIN!

    Life under the rule of Trump will most likely be very much like living under a despot, as his disciplinary measures are sure to be similar to the ruthless tactics of his business dealings. For more on this please read: Can Donald Trump ‘Make America Great Again’?

    https://pbenson.me/2016/11/15/can-donald-trump-make-america-great-again/

    In Jesus Christ;
    Paul Benson
    http://www.paulbenson.me

    • socalbeachdude

      What utter BS nonsense.

      • df NJ

        This time I agree with you.

      • Paul Benson

        I was very glad to see Hillary slapped down off her high horse, but I really do believe people do not realize what life will be like under Trump’s decisions ‘for our own good’. Let’s visit this matter again in about 1 year shall we? If I am wrong I will buy you a steak dinner!

        • JC Teecher

          Keep the steak, as two things are on the chopping block, if Evangelical/Christian leaders have their way.

          No new liberal scotus appointments.

          And a partial reversal in the continued efforts of the left to kill babies that are…alive and every bit known as pre-mature births, if given the chance. If for no other reasons, these are enough for me to smile about.

          • GSOB

            Ephesians 3:20-21

          • Bill G Wilminton NC

            Trump Will Save The Babies!!!

            One Way Is Supreme Court Nominations !!!

            THIS IS A POINT THAT SOME PATHETIC CHRISTIANS That Visit THIS SITE JUST DONT GET !!!

            Well Said!!!

            Shalom

  • socalbeachdude

    Obama’s legacy:

    “A failed health care law, non-existent economic growth, serial zero interest rates, near record labor non-participation rates, $20 trillion in national debt, a Middle East in ruins, failed reset and redlines, and the Iran deal were albatrosses around Democratic Party’s neck. Obama divided the country with the apology tour, the Cairo Speech, the beer summit, the rhetoric of disparagement (“you didn’t build that,” “punish our enemies,” etc.), the encouragement of the Black Lives Matter movement, and a series of anti-Constitutional executive orders.”

    • df NJ

      Eight years of irritating the shiite out of Republicans, priceless.

      • socalbeachdude

        The issues is the POLICIES and they were all wrong and very ANTI-AMERICAN with Obama.

  • socalbeachdude

    Emerging market bond, currency markets face ‘meltdown’

    U.S. President-elect Donald Trump appears to have burst the bond bubble, putting emerging markets (EM) from Mexico to Indonesia at the sharp end of a sell-off.

    Expectations of fiscal stimulus, infrastructure spending and reflationary policies under a Trump administration were fueling inflation fears, sending benchmark U.S. ten-year Treasury yields and the dollar surging. Expectations for tighter monetary policy and a December rate hike by the Federal Reserve were also playing a role.

    In the wake of last week’s election outcome, the U.S. 10-year Treasury yield climbed above 2 percent from levels below 1.8 percent in the days before the result, with many analysts pointing to expectations that Trump’s promised policies would spur a resurgence of inflation and further interest rate hikes from the U.S. Federal Reserve.

    http://www.cnbc.com/2016/11/14/emerging-market-bond-currency-markets-face-meltdown-after-trumps-win.html

  • socalbeachdude

    The equities market consists of only 30 stocks on the Dow (DJIA 30) out of around 7,000 stocks listed in the US and the stock markets including the main indices (Dow, S&P 500, and NASDAQ) are headed for MASSIVE PLUNGES and in, in fact, there biggest crashes in history dead ahead as earnings continue to plummet and as interest rates continue to soar. The US dollar is also skyrocketing as is now at 98.98 on the DXY (Dollar Basket) and will likely cross 100 early next week and keep on skyrocketing upwards which significantly reduces corporate earnings for the US multinationals.

    The transitory blip up in the stock markets are going to last about two nanoseconds before crashing like bonds are ready doing with record plunges.

    Federal deficits and debt may get even worse with Donald Trump as President IF he increases federal spending and cuts taxes. Bond are already PLUMMETING with massive losses this week as MUCH HIGHER YIELDS (INTEREST RATES) are priced in due to the expectation of higher federal spending and deficits and greater inflation. Bond prices are, of course, inverse to yields.

    Bonds plunge $1 trillion this week as Trump seen game changer

    http://www.bloomberg.com/news/articles/2016-11-11/bonds-tumble-by-1-trillion-this-week-on-trump-inflation-concern

    The US dollar is also skyrocketing on the DXY (Dollar Basket) which significantly reduces corporate earnings for the US multinationals.

    On Monday, November 14, 2016 the US dollar soared to 100 on the DXY and is poised to rise much further as other currencies such as the Euro ($1.074) and Yen (108.46 to $1) continue to plunge as their economies fall as the global economic crisis of debt significantly intensifies.

    • df NJ

      Oh the horror…

      • socalbeachdude

        Rising interest rates have significant consequences.

  • Liberty First

    Nobody could have avoided this. Even Jesus would have a hard time dealing with what is coming. It is baked into the cake. Best to pay the pain soon, and get it done with.

  • Liberty First

    Me too, I could easily see Hillary sending dissidents off to hard labor or the gas chamber…especially after learning that she had an absolute breakdown when she lost the election, a tantrum – a psychotic break, throwing things, etc. Trump will be much better (it will still be awful overall).

  • GSOB

    Perhaps after the TrumpPence administration passes, the worlds consideration of the USA is that President Obama’s administration set them up to fail.

    • socalbeachdude

      The setup for failure was Obama’s policies that both doomed his legacy and severely damaged America.

      Much of that failure was due to utter ignorance and blindness. For instance, you simply DO NOT PASS BILLS YOU DO NOT READ in Congress such as ObamaScare and expect anything other than failure.

      • GSOB

        Perhaps….

        • socalbeachdude

          Obama and his ilk guaranteed his failure.

          • leebo

            On purpose

  • GSOB

    Ah ten hut

  • GSOB

    Genesis 2:15

    Matthew 5:13

  • f16hoser

    Nobody want’s to lend us money now. What difference does a Trump presidency make?

    • socalbeachdude

      False. Demand for US Treasuries (US government debt) has never been higher which is precisely why yields (interest rates) on those US Treasuries is still near record low levels historically. The higher the demand the higher the prices and correspondingly the lower the yields. US Treasuries are a $13 trillion a year market which is the largest bond market in the world and they are the most sought after securities in the world.

  • anonymous

    I’m neither, I’m just not a dumb@ss spouting off like a racist. Small minded people like yourself can’t see the sheep from the wolves.

    • CASTIEL

      what i said to be called a racist???? moron….. the enemy is inside of every person, their supidity, their lack of vision, their lack of will to fight for justice…….about china go there and see with your own eyes……..i guess you never leaved your country….so think twice before calling me small minded ignorant……

  • Charles Smith

    1% interest on 20 trillion dollars is 200 billion
    4% interest on 20 trillion dollars is 800 bilion

    that is a lot of money going into the pockets of those lucky enuff to be holding govt debt and a lot of money that wont be going to roads schools hospitals etc etc

    • socalbeachdude

      Congress should have thought about that prior to increasing the federal debt by more than $18.5 trillion over the past 35 years since 1981 when the total outstanding federal debt that took 200+ years to accumulate was a “mere” $1 trillion. When anyone borrows money, interest must be paid on that principle and the higher the interest rates go, the more that must be paid out.

      The US government has tilted its borrowing towards short-term rather than long term (30 year) US Treasuries, so increases in market rates will be much more quickly felt as interest rates rise. The US Treasury fully pays off about $7 trillion a year of the $19.5 trillion in US Treasuries, but does so by issuing new US Treasuries so the impact of higher yields (interest rates) hit a very large portion of US Treasuries each year.

  • walcon

    Now that, sir, was well spoken. If we only had a public willing to set aside their brainwashed ideas of the world, take one minute and open their minds to the reality you have placed right before them, then perhaps in a small way, we may have a chance to gain what was robbed from us one piece at a time.
    Refusing the constant declaration that we are a democracy instead of a republic is a good start. Democracies never work- They fail before conception.
    It will take severe hardships, hopelessness and even deaths before a people will finally see they have nothing else to lose and all to gain. At this time they will see that in numbers, they had the power all the time to force the handful of rulers to do their will, or it’s “checkmate”.

    • Jeff Pearce Sr.

      Thank you walcon. History shows people have to be on their backs before they see the “light.” I’ve heard democracy described as three wolves and a sheep voting what’s for lunch. In a republic… the sheep has a gun.

  • walcon

    How do you suppose it took only a handful of people to destroy many nations? Were billions of citizens united and aware or asleep?
    I know if I dictated to only 20 people and they refused, I would have no choice but to concede. No one forces anything upon you- you allow it to happen.

  • 2Conservative

    Who in the world would be holding a variable rate mortgage with the rates we’ve had for the past 10 years or so?

  • illusion

    I voted for Trump. it was the lesser of two evils (as usual). I only think it’s fair that we adopt a wait and see attitude. One thing that I find very odd is that President elect Trump wants high level security clearances for his three oldest children. I won’t state that there will be a conflict of interest, but time will tell.

  • Stuey

    The federal reserve is the one who has been funding most of our debt for the last 8 years with “federal reserve notes” “printed” out of thin air. So it doesn’t matter much if other countries decide to quit buying US Govt. bonds or not, the federal reserve can always step in and make up the difference if they so choose.

    • Stuey

      So interest rates will only go up if the economy takes off, which would be a good thing. Interest rates have been so low for so long because the economy has been weak.

      • socalbeachdude

        There are 3 components to interest rates.

        Interest rates are comprised of:

        1) real rate (typically around 3% historically)

        2) inflation adjustment (now correctly at zero)

        3) risk of default (now rising astronomically)

        The risk of DEFAULT is higher than ever and will continue to rise.

    • socalbeachdude

      Absolutely false. The total outstanding debt of the US government is funded through SALES OF US TREASURIES (bond, bills, notes, and TIPS) and the Federal Reserve owns less than 13% of those US Treasuries with total holdings of only around $2.5 trillion.

      The US Treasuries markets are the LARGEST BOND MARKETS IN THE WORLD with annual turnover of around $13 trillion, and around $7 trillion of new US Treasuries are issued each year because so muich of the US debt is short-term borrowing. When US Treasuries mature at their maturity dates they are PAID IN FULL to the holders by the US Treasury.

      Around $6 trillion of new US Treasuries are issued each year to pay off US Treasuries that mature and about $1 trillion is issued for new US Treasury debt to cover the massive deficits. In Fiscal 2016 ended on 09/30/2016, the US Treasury racked up more than a $1.4 trillion deficit pushing the federal debt up to more than $19.5 trillion.

      The largest owner of US government debt is the US GOVERNMENT ITSELF which holds (owns) about $6 trillion of the $19.5 trillion debt through its various agencies with the largest holders being the Social Security and Medicare Trust Funds.

      Demand for US Treasuries is at RECORD HIGH LEVELS which is precisely why yields (interest rates) are near record low levels as prices of bonds rise with high demand and result in low yields as prices of bonds are inverse to their yields.

      • Stuey

        You are absolutely wrong…….the Federal Reserve currently owns over 50% of US Bonds and in the last 8 years have been the purchaser of 75% of the bonds.

        • socalbeachdude

          Absolutely false. I am 100% correct. The Federal Reserve only owns about $2.5 trillion of the outstanding $19.5 trillion of US Treasuries. Your numbers are DEAD WRONG as is confirmed by the balance sheet of the Federal Reserve. The Federal Reserve purchases less than 8% of newly issued US Treasuries each year and does that to replaced their matured US Treasuries which are paid in full at maturity to the Federal Reserve by the US Treasury.

          • Stuey

            and you believe the Federal Reserve’s balance sheet? They have NEVER been audited by an outside source so you don’t know if that information is correct or not.

          • socalbeachdude

            Absolutely false. Each and every year the complete financial books of the Federal Reserve are FULLY INDEPENDENTLY AUDITED BY ONE OF THE TOP 4 ACCOUNTING FIRMS IN THE US just like all major corporations and the annual financial reports clearly states which accounting firm performed the independent audit for that year. All of the fully independently audited annual financial statements of the Federal Reserve are up for all to read at:

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

      • Stuey

        What you are calling the US Govt is the Federal Reserve which is not owned by the US Govt is a totally private organization.

        • socalbeachdude

          The Federal Reserve is owned by its MEMBER BANKS and is entirely separate from the US Treasury, although it is a quasi-public-private entity under the full control of Congress which created it. Each and every year, the Federal Reserve REBATES 94% OF ITS PROFITS to the US Treasury as it has always done and that makes the Federal Reserve the largest single entity contributor each year to US government revenues with the rebate now running around $100 billion.

  • Joe Blow

    Fiat currency, the bane of a free society. The Federal Reserve (neither federal nor with any reserves) prints worthless paper, charges us for printing it and loaning it to us.

    Remember, JFK, Garfield, Lincoln, Gadaffi, etc., all murdered for going up against central bankers by attempting to back non interest money with gold.

    • socalbeachdude

      No. Fiat currency is certainly not “the bane of free society” at all. Most all money today is ELECTRONIC MONEY which is the best form of money ever devised and enables FREE MOVEMENT OF MONEY AT UNPARALLELED SPEED and ease for transactions in the US and globally.

      The Federal Reserve DOES NOT CHARGE A SINGLE PENNY to the US government for its existence, but rather exactly the opposite is true with the Federal Reserve being the SINGLE LARGEST ENTITY CONTRIBUTOR each year to US government revenues as it rebates 94% of it profits each year to the US Treasury and that now amounts to nearly $100 billion a year.

      The Federal Reserve only owns about $2.5 trillion of the outstanding $19.5 trillion in US Treasuries and those are ESSENTIALLY INTEREST FREE to the US government due to the Federal Reserve rebates.

      • Joe Blow

        Get out a Black’s Dictionary and look up some terms like:money, citizen, etc. and learn what slaves Americans are to the Corporation of America. Ask why our “names” are in all caps on their documents. There are much bigger understandings about reality then can be covered in a blog comment. Read, learn, grow.

        • socalbeachdude

          I would strongly suggest you learn about the Federal Reserve and what it is and how it operates at their web site.

  • socalbeachdude

    US TREASURIES CRASHING IN PRICE AS YIELDS SOAR UPWARDS…

    Bond ETF TLT suffers worst weekly decline in its history

    The iShares 20+ Year Treasury Bond ETF declined 0.6% to 122.04 on Friday and ended the week 7.4% lower, its biggest weekly loss since inception.

    http://www.marketwatch.com/story/20-year-bond-etf-suffers-worst-weekly-decline-ever-2016-11-11

  • socalbeachdude

    Federal government spending is VERY HUGE PROBLEM and the biggest issue with US government spending is that around 63% is being spent each year on SOCIAL WELFARE AND MEDICAL EXPENSES and that amount will continue to rise dramatically.

    There is very little in the way of federal spending that is “corruption” or “waste” and that is a totally bogus argument. Military spending including Veterans benefits amounts to only about 20% of total annual federal government spending.

    Only 20% of the US government annual spending is for total military spending with 16% for actual military spending and 4% for Veterans Benefits.

    The biggest part of the spending is SOCIAL PROGRAMS including the Social Security and Medicare insurance programs which are NOT ACTUARILY SOUND and which are paying out vastly more than they have taken in with payroll taxes.

    A summary of the fiscal 2015 US federal government expenditures totaling nearly $4 trillion is as follows:

    WELFARE & MEDICAL (63%)
    33% Social Security, Unemployment, Labor
    27% Medicare & Health
    ..3% Housing & Community

    MILITARY (20%)
    16% Military
    ..4% Veterans Benefits

    INTEREST ON DEBT (6%)
    ..6% Interest on Debt

    FOOD & TRANSPORTATION (6%)
    ..3% Food & Agriculture
    ..3% Transportation

    EDUCATION & SCIENCE (3%)
    ..2% Education
    ..1% Science

    ENERGY, ENVIRONMENT, & INTERNATIONAL (2%)
    ..1% International Affair
    ..1% Energy & Environment

    OTHER EXPENSES (1%)
    ..1% Government Expenses (general)

    The complete breakdown of Fiscal 2015 expenditures is extensively detailed including actual numbers as well as pie-charts with various percentage breakdowns as to discretionary and non-discretionary expenditures at:

    https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

  • socalbeachdude

    CBO SAYS $588 BILLION DEFICIT BUT DEBT SOARS BY $1.4 TRILLION…

    U.S. Deficit Up for First Time Since 2009 on Spending Surge

    The U.S. budget deficit as a share of the economy widened for the first time in seven years, marking a turning point in the nation’s fiscal outlook as an aging population boosts government spending and debt.

    Spending exceeded revenue by $587.4 billion in the 12 months to Sept. 30, compared with a $439.1 billion deficit in fiscal 2015, the Treasury Department said Friday in a report released in Washington. That was in line with a Congressional Budget Office estimate on Oct. 7 for a shortfall of $588 billion. As a share of gross domestic product, the shortfall rose to 3.2 percent from 2.5 percent a year earlier, the first such increase since 2009, government figures show.

    The Treasury said receipts in fiscal 2016 totaled $3.27 trillion, or 17.8 percent of GDP, while spending totaled $3.85 trillion, or 20.9 percent of GDP. Receipts rose $18 billion from fiscal 2015, while outlays jumped $166 billion, the figures showed. The department cited higher spending on Social Security, Medicare, Medicaid and interest on government debt.

    http://www.bloomberg.com/news/articles/2016-10-14/u-s-deficit-widens-for-first-time-since-2009-on-spending-surge

    So, then, why exactly did the federal debt rise by $1.4 trillion?

    The amount of the federal debt rose is $812 billion more than the claimed $588 billion deficit and the federal debt increased by more than $1.4 trillion in Fiscal 2016 which ended on September 30, 2016.

  • socalbeachdude

    The equities (stock) market consists of only 30 stocks on the Dow (DJIA 30) out of around 7,000 stocks listed in the US and the stock markets including the main indices (Dow, S&P 500, and NASDAQ) are headed for MASSIVE PLUNGES and in, in fact, there biggest crashes in history dead ahead as earnings continue to plummet and as interest rates continue to soar.

    The transitory blip up in the stock markets are going to last about two nanoseconds before crashing like bonds are ready doing with record plunges.

    Federal deficits and debt may get even worse with Donald Trump as President IF he increases federal spending and cuts taxes. Bond are already PLUMMETING with massive losses this week as MUCH HIGHER YIELDS (INTEREST RATES) are priced in due to the expectation of higher federal spending and deficits and greater inflation. Bond prices are, of course, inverse to yields.

    Bonds plunge $1 trillion this week as Trump seen game changer

    http://www.bloomberg.com/news/articles/2016-11-11/bonds-tumble-by-1-trillion-this-week-on-trump-inflation-concern

    The US dollar is also skyrocketing and is now over 100 on the DXY (Dollar Basket) and will likely go much higher than 100 and keep on skyrocketing upwards which significantly reduces corporate earnings for the US multinationals.

  • socalbeachdude

    On Monday, November 14, 2016 the US dollar soared to 100 on the DXY and is poised to rise much further as other currencies such as the Euro ($1.074) and Yen (108.46 to $1) continue to plunge as their economies fall as the global economic crisis of debt significantly intensifies.

  • JosephConrad

    Cost centers Trump must attack: Weaponry, Wrecking Syria, Yemen, Libya & Iraq, Isis, over-valued assets, low interest rates, M.E. Oil Wars, world policing costs, 800+ overseas military bases, Corporate profit off-shoring (~$3 T), Lack of domestic consumers, etc.

  • Priszilla

    When you consume your wealth you’ll end up poor.

  • socalbeachdude

    Absolutely false.

    • Joe Blow

      Wow, you got me there, your eloquent recitation of your position took my breath away. Thanks, my life is much fuller now.

  • socalbeachdude

    False. The Federal Reserve has done no such thing at all, and it purchased EXISTING US TREASURIES FROM MEMBER BANKS (rather than newly issued US Treasuries) as part of the three QE programs with all of the proceeds for that going to the RESERVES ACCOUNTS OF THOSE MEMBER BANKS INSIDE THE FEDERAL RESERVE. China’s holdings of US Treasures are BARELY CHANGED over the past 4 years and remain in the range of $1.2 to $1.3 trillion, and the same is the case with Japan.

  • socalbeachdude

    The Federal Reserve is certainly NOT “MONETIZING” any US government debt at all, and only holds a total of $2.5 trillion of the $19.5 trillion in outstanding US Treasuries and those purchased as part of the 3 QE programs were EXISTING US TREASURIES OWNED BY MEMBER BANKS WITH THE PROCEEDS DEPOSITED IN THE RESERVES ACCOUNTS OF THOSE BANKS INSIDE THE FEDERAL RESERVE.

    • Stuey

      That is what the Federal Reserve says they own but since they have never been audited by Congress then how do we know what they do or where they invest their federal reserve notes. They won’t tell Congress anything because they do not have to.

  • socalbeachdude

    Each and every year, as has been the case for 102 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/

    I would suggest you LEARN ABOUT THE FEDERAL RESERVE rather than making wrong, ignorant, and clueless assertions about it. The best way to do that is to go to their web site at:

    http://www.FederalReserve.gov

    Have you read them? What more do you want to know?

    • Stuey

      Not audited by the US Govt. so those audits are irrelevant to me because I do not know how truthful they are. The Federal Reserve chairman wouldn’t even tell congressional committees where it “invested” all the money after the meltdown in 2008. So none of us really know what the Federal Reserve is doing.

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