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PERRIN LOVETT

~ Fiction, Freedom, and The West

PERRIN LOVETT

Tag Archives: economy

He Would Know

19 Thursday Nov 2020

Posted by perrinlovett in Legal/Political Columns

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Alan Greenspan, economy, hoax, pandemic

The Maestro (he’s still alive) speaks, in re the “pandemic.”

The incoming administration of President-elect Joe Biden has its work cut out for it, and getting the virus under control should be the number one priority, according to former Federal Reserve Chairman Alan Greenspan, a move that will help save the economy.

“I’ve never seen a particular situation during my professional experience anything like this,” the 94-year-old Greenspan told CNN’s Julia Chatterley on her show First Move on Thursday.

Although he wasn’t working in finance when he was a boy, he lived through the Great Depression.

In his defense, at 94 the man is probably a little out of touch. But, he certainly helped move us into this dire situation that has nothing to do with fake pandemics or fake presidents. The subtle admission that this is a greater depression is a nice touch.

Megatons of Flesh Usury

17 Saturday Oct 2020

Posted by perrinlovett in Legal/Political Columns

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Amerika, debt, economy, jubilee, usury

This story about average Amerikan debt loads makes a pound sound like a bargain.

While the average American has $90,460 in debt, this includes all types of consumer debt products, from credit cards to personal loans, mortgages and student debt.

Knowing these trends is important. Along with staying informed about financial planning, reading advice about saving for retirement and learning credit card basics — knowing where you stand can help you decide where to go next on your financial journey.

Here’s the average debt balances by age group:

Gen Z (ages 18 to 23): $9,593
Millennials (ages 24 to 39): $78,396
Gen X (ages 40 to 55): $135,841
Baby boomers (ages 56 to 74): $96,984
Silent generation (ages 75 and above): $40,925

Math time! Let’s deduct 60 million souls from the 330 million folks in the US – to dismiss any Greatest, under-18 Zs, and Post-Zs among us.

$90.460 x 270,000,000 = $24,424,200,000,000 outstanding usury. That’s in the “personal debt” ballpark figure ($20 Tr+) estimated by Ye Old Debt Clock. Either way, think of that as the value being sucked out of ownership and productivity, with all of the vampirism based on fraud and lies. Or, terminating these sinful fake loans would result in an immediate boost to the real economy greater than a standard year’s GDP.

J.U.B.I.L.E.E.

 

Fools Bowing Down

08 Monday Jun 2020

Posted by perrinlovett in Legal/Political Columns

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Congress, economy, hoax, hypocrisy, recession, stupidity

Remember how you were prohibited from going to church and bending a knee before God for months? Yeah, so now, the morons in DC have no problem kneeling to their god of dysfunctional diversity hoaxism.

House Speaker Nancy Pelosi and Senate minority leader Chuck Schumer were joined by two dozen lawmakers in Congress’ Emancipation Hall — named in honor of the slaves who helped erect the US Capitol in the 18th century.

They knelt for eight minutes and 46 seconds to mark the length of time a white police officer pinned his knee on the neck of the 46-year-old Floyd, whose death in Minneapolis May 25 unleashed mass protests against racial injustice.

Instead of meddling and shilling with the JPA, maybe they could just kneel for 117 years, without food or water, to mark how long their money masters have had their knees on all of our necks.

In related news, the US is (surprise, surprise!) officially in a recession.

The College Disaster

06 Saturday Jun 2020

Posted by perrinlovett in News and Notes

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college, economy, education, not worth it

Before the Hoax, it wasn’t worth the time, money, or hassle. Now, there is no doubt. Even the WSJ sees a day of reckoning.

“You can not design a worse business,” he says. “This pandemic is such an unmitigated disaster for their model.”

That model has a bloated bureaucracy, expensive sports teams and fancy gyms and cafeterias built in an arms race to attract students. Combine students deferring due to Covid-19 with the Trump administration’s less-welcoming stance toward foreign students from places like China—who generally pay full tuition—and it is a perfect storm for financially weaker colleges. Even before Covid-19 appeared, almost a third of colleges tracked by Moody’s ran deficits and about 11 a year were being forced to close.

The good news is we’re getting rid of many a useless college. The better news is that there are many great alternatives for young people. Find one. Odds are, in a year or two, it may be easier than finding an open college.

V-Shaped Wealth Transfer

05 Friday Jun 2020

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

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economics, economy, hoax, theft

The Hoax was a deception in re the economy if nothing else (though there appears to be much else). Even CNBC sees through the fog.

The coronavirus pandemic has produced “one of the greatest wealth transfers in history,” CNBC’s Jim Cramer said.

“The bigger the business, the more it moves the major averages, and that matters because this is the first recession where big business … is coming through virtually unscathed,” the “Mad Money” host said.

“I think we’re looking at a V-shaped recovery in the stock market, and that has almost nothing to do with a V-shaped recovery in the economy,” he said.

What about shooting these institutional looters, Mr. Bunkerman President? Oh, yeah, they own the show. Sorry.

But, it’s not as bad as feared for Main Street either. Sure, you lost your high-paying job as a teacher, nurse, salesman, journalist, factory foreman, etc., but some uncertain and likely contrived percentage of the newly unemployed did find part-time, low-paying work in May as bartenders and waiters, presumably waiting on the bankster looters. Plus, I hear there are plenty of openings working as robots and AI programs and four newly-posted openings on the Minneapolis police force (candidates must provide their own precinct building). It’s like nothing really happened. Oh well, remember to vote for your slave masters. And get ready for another war!

As Predicted

26 Sunday Apr 2020

Posted by perrinlovett in Legal/Political Columns

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economy, oil, told ya

Negative oil, negative consequences. As I said:

So, West Texas Intermediate crude just (if briefly) traded in NEGATIVE territory – meaning nobody wants the oil and they have to pay people to take it. Free-loading Amerikants might think that’s a good deal, especially for gasoline. And, it will be – while current supplies last. Then, we find out what happens when there is no profit in gas or oil at any price. My guess is that it means a shortage.

The next chapter:

The economic impact of the coronavirus has ripped through the oil industry in dramatic phases. First it destroyed demand as lockdowns shut factories and kept drivers at home. Then storage started filling up and traders resorted to ocean-going tankers to store crude in the hope of better prices ahead.

Now shipping prices are surging to stratospheric levels as the industry runs out of tankers — a sign of just how distorted the market has become.

The specter of production shut-downs — and the impact they will have on jobs, companies, their banks, and local economies — was one of the reasons that spurred world leaders to join forces to cut production in an orderly way. But as the scale of the crisis dwarfed their efforts, failing to stop prices diving below zero last week, shut-downs are now a reality. It’s the worst-case scenario for producers and refiners.

Might not be a best-case scenario for drivers either.

Borrowing to Prosperity

26 Sunday Apr 2020

Posted by perrinlovett in Legal/Political Columns

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debt, economy, lies

Trillions of dollars!!!

“I think as we begin to reopen the economy in May and June you’re going to see the economy really bounce back in July, August, September,” Mnuchin said on “Fox News Sunday.”

“We are putting an unprecedented amount of fiscal relief into the economy,” he added. “You’re seeing trillions of dollars that’s making its way into the economy, and I think this is going to have a significant impact.”

Wallace, however, noted that the Congressional Budget Office recently predicted the economy will contract by 5.6 percent for the year and that unemployment will peak at 16 percent in the third quarter.

In response, Mnuchin said that “we’ve never seen anything like this,”

Not in Amerika, no.

Negative Oil Pressure

20 Monday Apr 2020

Posted by perrinlovett in News and Notes

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bad, economy, oil

So, West Texas Intermediate crude just (if briefly) traded in NEGATIVE territory – meaning nobody wants the oil and they have to pay people to take it. Free-loading Amerikants might think that’s a good deal, especially for gasoline. And, it will be – while current supplies last. Then, we find out what happens when there is no profit in gas or oil at any price. My guess is that it means a shortage.

It’s like when you’re driving and the oil gauge drops to zero. Either the gauge is broken, or else your engine is about to seize.

This may be just as well as Amerikants have nowhere to drive and nothing to do there anyway. Interesting times.

We Are Rich!

09 Thursday Apr 2020

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

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debt, depression, Economic collapse, economy, sorcery

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))).

Just a “Temporary” Measure

02 Thursday Apr 2020

Posted by perrinlovett in News and Notes

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banksters, economy, Federal Reserve

The Federal Reserve is easing up on those onerous reserve requirements which banks haven’t had to meet in decades.

The Federal Reserve on Wednesday eased rules around how banks account for their supersafe assets, a move meant to boost the flow of credit to cash-strapped consumers and businesses during the coronavirus slowdown.

The Fed said it would exclude for one-year Treasurys and deposits held at the central bank from banks’ supplementary leverage ratio calculation. The ratio measures capital—funds that banks raise from investors, earn through profits and use to absorb losses—as a percentage of loans and other assets.

Big U.S. banks must maintain capital equal to at least 3% of all of their assets, including loans, investments and real estate. By holding banks to a minimum ratio, regulators effectively restrict them from making too many loans without increasing their capital levels.

The banks are sitting on giant stockpiles of cash, U.S. government debt and other safe assets. By tweaking how the ratio is calculated, the Fed is effectively trying to engineer a swap. Remove Treasurys and central bank deposits from the calculation, the thinking goes, and banks should be able to replace them in the asset pool with loans to consumers and businesses.

Hey, look! The little dog is tugging on that curtain! It’s only temporary, they say – just like income tax withholding! So, what are they planning? To help us borrow our way to prosperity? Or, just out of a gravity well of existing debt? This stuff is so transparent that they may have to move up football season to divert the normies. Oh, already planning that. Carry on!

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Perrin Lovett

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