Tag Archives: Economic collapse

What YOU Voted For

14 Tuesday Apr 2020

Posted by in Legal/Political Columns

≈ Comments Off on What YOU Voted For

Tags

, , , , , , ,

Congratulations, voters of Amerika! You and your elected morons have done it yet again, though bigger than ever. Remember waaaay back, like a week ago, when your rats passed the biggest welfare bill in history? The one with the massive grant or loan fiasco for small bidnesses? Yeah, it’s already spent, with nothing to show.

One of the most celebrated pieces of the massive $2.3 trillion coronavirus relief package that’s just over two weeks old is on life support with no deal in sight to resuscitate it.

According to the latest projections, the Small Business Administration’s $349 billion appropriation for loans to eligible firms, which are forgiven if they use the money to keep workers on their payrolls, will run out of money by Friday.

And the Democrats want more money to waste. They’ll get it, and, really, why not? A reminder to the Republican, conservative, better than the Democrats, need a business man!! crowd: you got exactly what you wanted and now you’re getting what you deserve.

President Trump, with the support of Congress, is poised to preside over an unprecedented explosion of government spending that already is set to shatter deficit records and could grow further if plans for more coronavirus relief bills — nearing a potential total price tag of $5 trillion — become reality.

Even accounting for inflation, no modern administration has seen such levels of spending, covering everything from FDR’s New Deal to recession-era rescues in the early part of the Obama administration.

Not to worry: you still have your Constitution!*

*Constitution “temporarily” suspended.

Brilliant Economist Notices The Obvious

09 Thursday Apr 2020

Posted by in Legal/Political Columns, News and Notes

≈ Comments Off on Brilliant Economist Notices The Obvious

Tags

, , ,

That Princeton-Georgetown education is really paying off, let me tell you. Fed Chair Jay Powell says we’re going to hell in a handbasket.

Federal Reserve Chair Jerome H. Powell said Thursday the U.S. economy is in an emergency and is deteriorating “with alarming speed.” His remarks came shortly after the central bank unveiled over $2 trillion in new loans to keep the economy afloat as much of the nation goes into a lockdown to fight the spread of the deadly coronavirus.

In totally unrelated news, the long-lost bridge recordings from the SS Edmund Fitzgerald have finally surfaced. On the final log, Captain McSorley is heard saying, “It appears we are taking on water. Therefore, I have directed that the bilge pumps be reversed. The added ballast should surely solve our local emergency.”

We Are Rich!

09 Thursday Apr 2020

Posted by in Legal/Political Columns, News and Notes

≈ Comments Off on We Are Rich!

Tags

, , , ,

I have some very good news for the pandemically-challenged! We Americans are just swimming in cash. So says one Jon Hilsenrath, writing in the WSJ today amount our collective and growing “mountains of debt.”

The Federal Reserve, the nation’s central bank, will play the critical role of navigating the nation through the rising tides of debt. It sways the cost of debt service, whether inflation emerges and whether banks and other financial institutions can bear the burden of lending that the nation demands.

So far the Fed is getting high marks from President Trump and many economists and investors for moving quickly to make credit widely available, though it faces challenges and uncertainties deciding how far to extend itself and when and how to pull back. On Thursday, it announced more programs to support $2.3 trillion in lending.

I for one, am not tired of the winning! This is known as borrowing your way to prosperity. And, buddy, we’re there! The nifty chart Mr. Hilsenrath embedded in his article shows the grand fact that the nominal debt (not even including the really shady stuff) is now around 250% of the precious GDP. Praise be to someone! You’ll recall that we owe this to ourselves, so we are very wealthy from the accounts receivable point of view. In addition to whatever else they might own, each and every one of our 330,000,000 people in the nation-shaped kind of place can count as an asset nearly $200,000 from that mountain of golden debt.

And, as his strength
Failed him at length,
He met a pilgrim shadow—
‘Shadow,’ said he,
‘Where can it be—
This land of Eldorado?’

Right here in the good old US of Empire, Eddie! The news gets even better! The Fed has announced – maybe more than once – that they’re flooding in another $2.3 Trillion in “gold” so as to “help” us. Something about Alexander Hamilton – and he’s a cool hip-hopper from Broadway or something. This adds a new Everest to the Himalayas of debt they’re created (for us!) in the past few months.

Now, don’t worry if you’re not Goldman Sachs. The money will trickle down to you little, unimportant plebs sooner or later. And, pay no attention to the negative Nancy’s talking about the worse depression ever. Just keep your eyes and your hearts set on your big piece of the mountainous pie. Tell ’em about it down at the breadline. Remember to stand six feet apart.

*Note: This column does not contain echoes when maybe it should. Sorry, I blame the (((virus))).

The Subtle Admissions

01 Wednesday Apr 2020

Posted by in News and Notes

≈ Comments Off on The Subtle Admissions

Tags

, ,

Why does the following sound so familiar?

The novel coronavirus has already had a significant impact on the global economy, which will worsen if the outbreak and the shutdowns designed to contain it continue for very long. But it’s only an accelerant: If not Covid-19, as the disease caused by the virus is known, something else would have started the conflagration. Shortfalls in revenue and cash flows, caused by the shutdowns, have simply exposed the vulnerabilities of a structurally unsound economic and financial system.

Well, I mean, really, um, er … it might, you know, not necessarily be the, uh, the um, the virus thingy…

Structural instability and systematic failures. Why does that sound like what I’ve been saying for a few years now? Oh, because it is the same thing. I just noticed a long time ago. There really needs to be hell to pay, but, judging by what passes for people these days, there’s nobody capable of collecting.

 

You CAN Go Lower Than Zero

25 Wednesday Mar 2020

Posted by in Legal/Political Columns, News and Notes

≈ Comments Off on You CAN Go Lower Than Zero

Tags

, , , , ,

And, you have.

Just the other week, my avatars, Tom Ironsides and Todd Vispoli (neither of which is me, by the way) discussed the real crisis behind the ridiculous Corona Chan false flag and hoax. Todd said: ‘The funds rate is already effectively below zero, and it has been for some time. All the idiot pundits say, “you can’t go lower than zero,” but that’s just another one of their lies. Of course, you can go lower. The Europeans are below zero.’

Now, US Treasuries are too.

Yields on both the one-month and three-month Treasury bills dipped below zero Wednesday, a week and a half after the Federal Reserve cuts its benchmark rate to near-zero and as investors have flocked to the safety of fixed income amid general market turmoil.

It was the first time that happened in 4½ years, when both bills briefly flashed red and yields fell to minus-0.002% each. The readings Wednesday were well below those.

This comes while the criminals in DC scramble to give away even more value to the masters of usury. (But hey! You’ll get $1200 or something). This, while Americans hide in their homes, leaving only to run around in masks and fight each other for toilet paper. What the rate drop means in real terms is that when you buy a short-term bond and loan the Empire your money, you have to pay them to take your money. That means your money is … worthless. Think about it (if that’s possible anymore) like this: if you have something valuable around the house – gold, timber, stamp collection, etc. – then people will pay you for the privilege of taking it for themselves. On the other hand, you have to pay to have worthless or dangerous things removed from your home – like black mold or toxic waste in the soil.

Extrapolating further, to Wall Street, the relative worthlessness of the cash means that it takes more of it to buy things, like stocks. Thus, the prices of the stocks rise, driving a false sense of prosperity in the DOW. But, as soon as the bailout cash is spent (tomorrow), we’re back to square one and a lack of true value. Those at the top of the chain (the banksters) reap the greatest rewards. The rest pay the price.

A few related questions:

If all non-essential offices are supposed to be closed, then how the hell is Congress open?

If you get $1200 “free” from Uncle Sucker, but there is no toilet paper available to purchase, do you use the fiat to wipe your ass?

If Washington can afford to part with Trillion$ in giveaway cash, then why do we have to continue to pay taxes?

Is a combination of Chloroquine and UV radiation effective against usury and tyranny?

We need answers.

An Open Letter to President Trump

21 Saturday Mar 2020

Posted by in Legal/Political Columns

≈ Comments Off on An Open Letter to President Trump

Tags

, ,

I did, today, send a letter to the President about the COVID-covered economy. Here it is:

Hon. Donald John Trump
The White House

In Re: The Economic Collapse in America

Dear President Trump:

May I congratulate you on your handling of the recent unpleasantness related to the Wuhan COVID-19. I understand this must be a challenging and monumental task. However, I remind you that you did not create the virus. Nor did you create the near-terminal conditions in the economy, as revealed by the pandemic. But, while I trust the virus will burn itself out, you potentially have the ability to cure the financial calamity which has incubated and infected for over one-hundred years. I offer three suggestions:

First, cancel all debts. All of them: national, state, corporate, and individual. There are numerous methods for doing this. For years, people have told me that such a corrective course would “destroy the economy.” As it appears that is already happening, perhaps there is no better time.

Second, eliminate the virus that is the Federal Reserve, with its fractional banking, fake currency, constant inflation, cannibalistic financialization, and economic sorcery. The chief priests of this temple of usury are among the deepest of the deep staters, elders in the swamp of which you are intimately familiar. Drain it. Make usurious lending a felony.

Third, institute a gold or other commodity standard and a reset, a return to normalcy and sanity.

Bailouts, handouts, more fake money, and more debt will only paper-over, perpetuate, and exacerbate the already insidious problems. Lockdowns, martial law, and indefinite detention of Americans certainly will not help matters.

Please contact me if you have any questions about the potential processes and proposals briefly mentioned above. May God give you strength and wisdom in all your important endeavors.

Sincerely,

Perrin Lovett

UPDATE: The Gatekeepers answer:

Screenshot 2020-03-23 at 4.17.08 PM

They misspelled Farcebook.

A Word About The Blog

20 Friday Mar 2020

Posted by in News and Notes

≈ Comments Off on A Word About The Blog

Tags

,

It is my intention to keep operating here, regardless of the economic collapse, so long as there are sufficient electricity and broadband. That said, power companies are considering drastic actions. Should those fail, the lights will go out. I’ll do what I can, as I’m sure you will also. And, I anticipate FP and TPC continuing to run as usual.

A fews predictions: by the middle of next month, they won’t even mention or remember the Corona; then, it will just be a mysterious decline that no-one understands. Expect some utility disruption. Expect a bending, if not a breaking, in civil order. And, ere too long, I’m sure they’ll try another exciting war.

Now back to your search for toilet paper and stimulus money. P

Bank of America Calls Collapse

19 Thursday Mar 2020

Posted by in Legal/Political Columns, News and Notes

≈ Comments Off on Bank of America Calls Collapse

Tags

, ,

The same Bank of America that racked up $3.5 Trillion in bailouts during the previous part of the current (perhaps never-ending) depression sees arecession and a collapse on the way.

Bank of America warned investors on Thursday that a coronavirus-induced recession is no longer avoidable — it’s already here.

“We are officially declaring that the economy has fallen into a recession … joining the rest of the world, and it is a deep plunge,” Bank of America U.S. economist Michelle Meyer wrote in a note. “Jobs will be lost, wealth will be destroyed and confidence depressed.”

The firm expects the economy to “collapse” in the second quarter, shrinking by 12%. GDP for the full year will contract by 0.8%, it said.

The Corona did it! Never stronger. Fully capitalized.

How much should we put them down for this time?

TPC Preview and the Economy

16 Monday Mar 2020

Posted by in Legal/Political Columns, News and Notes, Other Columns

≈ Comments Off on TPC Preview and the Economy

Tags

, , ,

Greetings. I am putting the finishing touches on a TPC short story for broadcast tomorrow. It features Dr. Tom Ironsides! And, he and a friend you might remember will discuss current events. I’m still working on it, packing as much up-to-date-ness in as I can. I’ll let you in on the gist:

The US Economy is Probably in Full-scale Collapse.

In the morning, I’m making the same claim at FP, and Tom and Co. present as much tomorrow at TPC. You heard it first if you didn’t already know. I hope I’m wrong, but even if I am, then this is a good taste of “the big one.” This could be the chance to finally reset things. But, so far, our “leaders” have only exponentially increased the same insanity that brought us to this point; they’re using the Corona as the most convenient cover. Think of it this way: soon the bug will be a memory; but, when the toilet paper comes back to Walmart, it might cost $10 per roll and you might have been laid off.

I’ll feature the TPC bit, here, in full. We’ll try to have fun with it.

Now, let’s see, was today’s 3,000 the DOW drop, or the COVID increase…

You’re Too Big To Fail

16 Monday Mar 2020

Posted by in Legal/Political Columns

≈ Comments Off on You’re Too Big To Fail

Tags

, , , , , ,

Hey! You’re about to get paid a little – just a tiny bit – of that bankster graft!

What’s happening: A growing chorus of liberal and conservative economists are lining up behind a proposal published in the Wall Street Journal by Harvard professor Jason Furman, who chaired the Council of Economic Advisers (CEA) under President Obama, that calls for direct government payments to households.

What it means: Furman proposes Congress pass a “one-time payment of $1,000 to every adult who is a U.S. citizen or a taxpaying U.S. resident, and $500 to every child who meets the same criteria.”

He adds that the law “should also specify that the payments would continue in 2021 and beyond if the unemployment rate rises to 5.5% and remains there or higher. Hopefully this will not happen, but if it does, the money will be needed.”

What it REALLY means: America is DONE.