Month: November 2017

Resolved: The Welfare State Should Be Abolished

Authored by Jeffrey Tucker via The Foundation For Economic Ecucation, That the welfare state is for the purpose of helping the poor is one of the great fictions of our time… I was honored to be the guest speaker of the Yale University Political Union last week, addressing the need to abolish the welfare state. The structure of the union breaks down students into “parties” based on political ideology. The guest speaks and then the students challenge. This is followed by minor speeches and challenges from students. The entire event lasts two hours, and the guest gets the final word. A word on the students themselves: I was amazed at the erudition, decorum, and adult-like collegiality among them. It seems almost out of some movie I’ve seen, something set in the 1920s. I’m not entirely s...

Gartman: “We Are Going To See Tax Legislation Pass Either Tonight Or Tomorrow”

In a dramatic showdown on the Senate floor on Thursday afternoon, the Senate tax bill came this close to being killed by deficit hawks, and in the resulting chaotic aftermath, votes and debates which were scheduled for Thursday evening have now been pushed back to Friday morning. Who could have possibly foreseen it? Well, anyone who listened to Dennis Gartman on CNBC this afternoon, for one. The “world renowned commodity guru” and closely followed market strategist – for all the wrong reasons – appeared on CNBC’s Power Lunch to discuss the market, saying the fact that the stock market wants to climb even higher is “stunning” but true. “You’re at this point in the stock market where it can do anything. It’s gone parabolic,” t...

Martin Armstrong Warns: 2018 Is The Year Of Earthquakes

Authored by Martin Armstrong via ArmstrongEconomics.com, The Great San Francisco Earthquake struck on April 18th, 1906 (1906.295). Based upon our model that monitors earthquakes due to their impact on the economy (1906 quake led to the Panic of 1907 and the formation to create the Federal Reserve in 1913), the risk for a major earthquake turns up in 2018. Why? Actually from two aspects. This will be the 13th wave of 8.6 years from 1906 which puts the risk starting 2018.095 (Feb 3/4. 2018). However, perhaps a more important model is simply looking at quakes that are 7.0 or higher regardless of where they are. When we focus on this level of activity, here too what emerges is a 31.4-year cycle of intensity. This also turns up in 2018. The real intensity appears to extend into 2021. There is a...

U.S. Senate tax bill stalls on deficit-focused ‘trigger’

WASHINGTON (Reuters) – The U.S. Senate on Thursday delayed voting on a Republican tax overhaul as the bill was tripped up by problems with an amendment sought by fiscal hawks to address a large expansion of the federal budget deficit projected to result from the measure.

Russian Marines Deploy To North Korean Border After ICBM Launch

After Russia announced on Wednesday that North Korea’s latest intercontinental ballistic missile (ICBM) launch constituted a “provocative act” while also calling on all sides to “stay calm”, major Russian military maneuvers have been reported today along Russia’s tiny stretch of border with North Korea. According to an alarming report detailing the new Russian military build-up in Newsweek: Russian marines have practiced landing operations at its border with North Korea, following Pyongyang’s controversial missile launch test this week, the military said. Russian naval infantry servicemen and the crews of Russia’s Pacific Fleet ships Admiral Nevelskoy and Peresvet, carried out a swift, amphibious charge on a beachhead in the Primorye region, Russia’s onl...

We Give Up! Government Spending And Deficits Soar Pretty Much Everywhere

Authored by John Rubino via DollarCollapse.com, A recurring pattern of the past few decades involves governments promising to limit their borrowing, only to discover that hardly anyone cares. So target dates slip, bonds are issued, and the debts keep rising. This time around the timing is especially notable, since eight years of global growth ought to be producing tax revenues sufficient to at least moderate the tide of red ink. But apparently not. In Japan, for instance, government debt is now 250% of GDP, a figure which economists from, say, the 1990s, would have thought impossible. Over the past decade the country’s leaders have proposed a series of plans for balancing the budget, and actually did manage to shrink debt/GDP slightly in 2016. But now they seem to have given up, and are lo...

Satellite Photos Show North Korea Preparing Another Missile Launch

North Korea carried out its first missile test in more than two months earlier this week, ending the longest stretch of calm since President Trump took office. But according to satellite images exclusively obtained by Fox News, the North Korean military is already constructing another launch pad at the Panghyon Airbase in North Pyongyang – the same site where it carried out its July 4 launch of an ICBM. This suggests that the North is already preparing for its next missile test. Analysts at Image Sat International spotted the construction just days after the rogue nation launched an ICBM that North Korea claimed was powerful enough to carry a “super-heavy nuclear warhead” that could strike the “mainland of the U.S.” According to the ImageSat analysts, who are closely following ...

Campus Newspaper Editorial: “Your [White] DNA Is An Abomination”

Authored by Lauren Cooley via The Washington Examiner, A new opinion piece in a Texas State University student newspaper tells white students, “Your DNA is an Abomination.” “When I think of all the white people I have ever encountered – whether they’ve been professors, peers, lovers, friend, police officers, et cetera – there is perhaps only a dozen I would consider ‘decent,’” student author Rudy Martinez writes in the University Star. Without much biological explanation, Martinez informs white readers: “You were not born white. You became white… You don’t give a damn.”   Later in his rant, he calls the police “fascist foot soldiers” and says a “white supremacist inhabits the White House.” The editorial also suggests that “whiteness in the United States” is a “construct u...

Senate tax bill stumbles on deficit-focused ‘trigger’

WASHINGTON (Reuters) – A Republican tax overhaul stalled on a procedural issue in the U.S. Senate on Thursday, forcing lawmakers to weigh new options to an amendment sought by a leading fiscal hawk to address the bill’s projected large expansion of the federal deficit.

Moody’s To State & Local Governments – Prepare For Climate Change Or Lose Access To Cheap Credit

The 2017 Atlantic hurricane season, which officially began on June 1 and ends today, featured the highest number of major hurricanes since the 2005 season and was only the second time that two Category 5 hurricanes made landfall. However, it was by far the costliest hurricane season on record, with a preliminary total of $368.7 billion in damages, more than twice the cost in 2005. Nearly all of the damage resulted from the season’s three major hurricanes, Harvey, Irma and Maria. Yesterday, nine scientists writing in PLOS ONE estimated that almost 14,000 DINAA archaeological sites (Digital Index of North American Archaeology) on the Atlantic and Gulf Coasts in the US could be lost by 2100 as seas rise due to climate change. In these circumstances, it’s not surprising that the rating agencie...

This Cycle: It’s Not The Economy, It’s China, Stupid!

Authored by Kevin Muir via The Macro Tourist blog, I know everything is fan-freaking-tastic – with the tax reform bill and global synchronized expansion and all. I figure the last thing you need is some nattering naysayer throwing cold water on this unbelievable party, so I won’t. At least not for the short run. This rally will end when it ends. Maybe tomorrow, maybe next week, maybe next month, maybe next year. I don’t know and every time I try to guess, I just end up looking foolish. But I recently listened to this terrific Bloomberg Masters in Business interview of the legendary hedge fund manager, Felix Zulauf, and he articulated such a compelling argument for the timing of the next slowdown, I felt like Felix was my Spirit Bear. I have always enjoyed Felix’s viewpoint, but Barry...

Senate Bill Nearly Killed By Deficit Hawks: Will Include $350 Billion In New Tax Hikes

Following a report from the Joint Committee on Taxation, which unveiled late on Thursday afternoon that the Senate Tax bill would generate enough economic growth to lower its $1.4 trillion revenue cost by only about $458 billion over a decade – in other words it would still boost the deficit by roughly $1 trillion – in a dramatic showdown on the Senate floor, GOP leaders agreed to effectively increase taxes by $350 billion in response to a procedural ambush by deficit hawks led by Sen. Bob Corker that nearly killed the GOP tax reform bill. According to Bloomberg, Senator David Perdue, a Georgia Republican, said that GOP Senators are “discussing a new compromise for their planned tax overhaul that would increase taxes in future years.” David Perdue Quoted by The Hill...

Lost Password

Register

Skip to toolbar