Two Paths Diverge: Which One Will the President Take?

At the beginning of the year as the President was assuming office, I penned a piece that focused upon the need for the President to ‘clean house’ regarding the Administration, and putting Congress in its place. I also stressed the need for him to run a ‘tight ship,’ as the midterm elections of Congress in 2018 are going to determine the success of his term. As it stands, things do not look very promising. RINO (Republicans in Name Only) members of Congress have derailed his efforts on everything from Obamacare to Border Control. Every effort the President has initiated has met with dogged resistance.
Who are these resistors? To be sure, many of them can be found ensconced within levels of government or government-influenced positions where said position is not necessarily determined or changed by an incoming administration. An example of how this happens is Ben Bernanke, appointed to head the Federal Reserve under George W. Bush, and kept in place by Obama until 2014 when Yellen stepped into the spot.
The prime example of an infestation are the holdovers from the Obama administration in the State Department…the same department boasting such ‘winners’ as Victoria Nuland and Hillary Clinton. The State Department that almost singlehandedly (with the help of Senators Lindsey Graham and John McCain) toppled the government of Ukraine via coup d’tat, as well as enabling the ‘Arab Spring’ to unfold.

This post was published at shtfplan on November 24th, 2017.

There’s No Painless Exit From The “Fake Faux Financialized” Economy

Authored by Howard Kunstler via Kunstler.com,
A most curious feature in the current low state of American politics is the delusional thinking at both ends of the political spectrum. Both factions have gone off the rails mentally, and the parties they represent race toward oblivion like Thelma and Louise in their beater car. More ominously, there are no new factions with a grip on reality even beginning to form anywhere in the background – as in the 1850s when the Whigs foundered and the party of Lincoln segued into power.
To see the Democrats go on about ‘Russian collusion’ you would think we were watching a rerun of the John Birch Society in its heyday. Americans who have done business in Russia as private citizens are being persecuted as though they were trading with the enemy in wartime. Newsflash: we are not at war with Russia, which, by the way, is no longer the Soviet Union. It is one of many European countries that Americans are entitled to do business in – even in the case of General Mike Flynn accepting a $20,000 speaking fee from the RT news company. Has anyone noticed that Ben Bernanke routinely takes $200,000-plus speaking fees in many foreign countries whose interests are not identical to ours and no one is persecuting him.
Likewise, the insane idea that it is malfeasant for high public officials to speak to Russian officials, or for the president to share sensitive strategic information with them, especially about genuine mutual enemies such the various Islamic jihad armies. Since when is that beyond the pale? Well, since January of this year when the Democrat Party ordained that members of the Trump transition team were forbidden to speak to Russian diplomats at the highest level. Do you suppose that, in the hothouse of Washington, incoming foreign policy officers of Obama’s government had no conversations with foreign diplomats between the election of 2008 and Obama’s inauguration? The idea is laughable.

This post was published at Zero Hedge on May 26, 2017.

Mortgage Refis Near Obama-Lows As Mortgage Rates Continue To Rise

Its that time of year (turn of the year) when mortgage applications hit the lowest level of the year. But the last report of mortgage refinancings from the Mortgage Bankers Association (MBA) just hit the third lowest level during the Obama era.
We are experiencing the secon largest surge in mortgage rate during the Obama era, after the May 2013 anxiety attack about Bernanke’s curtailing monetary expansion.

This post was published at Wall Street Examiner on January 5, 2017.

American Serfdom – Companies Are Offering Loans for Living Expenses to Their Destitute Employees

Bernanke and the Federal Reserve are nothing but criminal butlers for the oligarchy. The proof is undeniable at this point. While this unaccountable banking cartel promised us that 0% rates would help the economy, America’s growing underclasses are paying 100% rates for loans to buy sofas and pay for food, more than five years into this so-called ‘recovery. Meanwhile, the only segment of society with access to low interest rates are the very wealthy financial oligarchs who leverage this cheap money to speculate on financial assets and real estate. So yes, the Fed (Central Banking in general) is completely to blame for the world’s growing inequality, as are their submissive, compliant defenders in academia, ‘journalism’ and within the halls of power in Washington D. C.
From the post: Another Tale from the Oligarch Recovery – How a $1,500 Sofa Costs $4,150 When You’re Poor
There is no recovery. The only thing we’ve experienced over the past eight years of Obama is a historic plundering and strip mining of the U. S. economy by a handful of oligarchs and their political and bureaucratic minions.
The evidence has been clear for years. Fully employed Americans have been borrowing from payday lenders at egregious rates in order to pay for normal everyday living expenses, while a small group of executives grab as much as possible for themselves. You can see this in corporate profits margins at historically high levels and in the use of cash to buyback shares as opposed to paying employees a living wage. To see just how grotesquely out of whack the economy has become under the crony policies of Obama and the Federal Reserve, let’s revisit what I like to call the ‘Serfdom Chart.’

This post was published at Liberty Blitzkrieg on Jun 1, 2016.

The Federal Reserve Has Created an Unprecedented Disaster for Pension Funds

When it comes to the Fed, Congress is mired in hypocrisy. The anti-regulation, de-regulation crowd on Capitol Hill shuts its mouth when it comes to the most powerful regulators of all – you and the Federal Reserve. Meanwhile, Congress goes along with the out-of-control, private government of the Fed – unaccountable to the national legislature. Moreover, your massive monetary injections scarcely led to any jobs on the ground, other than stock and bond processors.
– From the post: Ralph Nader Destroys the Federal Reserve in Open Letter – Calls it ‘Out of Control, Private Government’
If I had to choose one single institution and one single individual most responsible for the weak, putrid and unbelievably corrupt oligarch-controlled U. S. economy, I would choose the Federal Reserve and Ben Bernanke.
The central planners at the Fed have systematically funneled trillions of dollars into the pockets of those who needed and deserved it least, and in the process served to further enrich and entrench a criminal oligarchy while pounding the middle class into oblivion. What’s worse, the financial armageddon faced thus far by the 99.99% is just getting started.
Thanks to the 0% rate targeted by the Federal Reserve, pensions simply can’t get a decent return without moving further and further out on the asset management risk spectrum, and even then, it’s still not sufficient.
Today’s Wall Street Journal article on the topic shines a much needed light on just how dangerous this whole charade has become. Here are a few excerpts:

This post was published at Liberty Blitzkrieg on May 31, 2016.

You’ve Been Warned – Ben Bernanke Praises ‘Helicopter Money’ in Latest Blog Post

Don’t say you weren’t warned.
What follows are some excerpts from Banana Republic Ben’s latest blog post titled, What Tools Does the Fed Have Left? Part 3: Helicopter Money.
When monetary policy alone is inadequate to support economic recovery or to avoid too-low inflation, fiscal policy provides a potentially powerful alternative – especially when interest rates are ‘stuck’ near zero. However, in recent years, legislatures in advanced industrial economies have for the most part been reluctant to use fiscal tools, in many cases because of concerns that government debt is already too high. In this context, Milton Friedman’s idea of money-financed (as opposed to debt-financed) tax cuts – ‘helicopter money’ – has received a flurry of attention, with influential advocates including Adair Turner, Willem Buiter, and Jordi Gali.
In this post, I consider the merits of helicopter money as a (presumably last-resort) strategy for policymakers. I make two points. First, in theory at least, helicopter money could prove a valuable tool. In particular, it has the attractive feature that it should work even when more conventional monetary policies are ineffective and the initial level of government debt is high. However, second, as a practical matter, the use of helicopter money would involve some difficult issues of implementation. These include (1) the need to integrate the approach with standard monetary policy frameworks and (2) the challenge of achieving the necessary coordination between fiscal and monetary policymakers, without compromising central bank independence or long-run fiscal discipline. I propose some tentative solutions for these problems.

This post was published at Liberty Blitzkrieg on Apr 11, 2016.

Welcome to the Recovery – 1 Out of 7 Americans (45.5 Million) Remain on Food Stamps

The following article from the New York Times is shameful in many ways. While the paper is forced to cover the undeniable fact that real wages for the lowest income Americans have plunged during the so-called ‘economic recovery’ over the past six years, it fails to actually pin blame on the undemocratic, oligarch institution most responsible for this humanitarian crisis: The Federal Reserve.
Of course, I and many others have been saying this for years, but now more than half a decade into what is supposed to be a recovery, people are finally being forced to admit what this really is – large scale theft.
In fact, Ben Bernanke and his crew of upward wealth distributing academics have pulled off the greatest wealth heist in American history. In its wake we have been left with a hollowed out, asset striped Banana Republic. Thanks for playin’ Main Street. Or more accurately, thanks for being played.
– From the post: The Oligarch Recovery – Study Shows Real Wages Have Plunged for Low Income Workers During the ‘Recovery’
More than six years into Dear Leader’s glorious economic recovery, 45.5 million Americans, or one in seven, remain on food stamps.
I’d say that’s a problem, but I don’t want to be accused of ‘peddling economic fiction.’
From Bloomberg:

This post was published at Liberty Blitzkrieg on Feb 4, 2016.

When it Really Mattered, Ben Bernanke Coddled, Protected & Bailed Out Financial Criminals

Most of you will have seen Ben Bernanke’s recent crocodile tears regarding how he wished more individuals were held responsible, for you know, destroying the American middle class and handing over the nation to a handful of criminal oligarchs.
As David Dayen notes, he is completely full of shit. As usual.
From the Intercept:
Former Federal Reserve Chair Ben Bernanke joined practically everyone in America by saying in his new memoir, The Courage to Act, that more Wall Street executives should have gone to jail for criminal misconduct that led to the financial crisis.

This post was published at Liberty Blitzkrieg on Oct 7, 2015.

Welcome to the Banana Republic – Highlighting the Comment Section of Bernanke’s WSJ Propaganda Piece

There’s nothing like the comment section when it comes to Federal Reserve propaganda in the editorial pages of the Wall Street Journal. Liberty Blitzkrieg readers will remember the last time the WSJ published a disconnected piece of Central Bank stroking garbage from Fed propagandist John Hilsenrath, and the riotous anger which ensued in the comment section. If you missed it, I strongly suggest taking a read: ‘Revolution is Coming’ – The Top 20 Responses to Jon Hilsenrath’s Idiotic WSJ Article.
Fast forward a few months, and here we have Ben ‘the courage to bail out billionaires’ Bernanke writing an almost unreadable piece of propaganda in the WSJ titled ‘How the Fed Saved the Economy.’
At this point in a post I’d typically highlight the more egregious parts of an Op-Ed, but this one is so bad, so poorly written and completely uninteresting, there’s really no point. If you feel like wasting two minutes of your life go ahead and read it yourself, but it appears to me that it was put together in a couple of seconds by an intern instructed to boost book sales.

This post was published at Liberty Blitzkrieg on Oct 5, 2015.

FOURTH TURNING: CRISIS OF TRUST – PART 2

In Part 1 of this article I discussed the catalyst spark which ignited this Fourth Turning and the seemingly delayed regeneracy. In Part 2 I will ponder possible Grey Champion prophet generation leaders who could arise during the regeneracy.
The nearly seven year reign of Barack Obama has resulted in furthering wealth inequality, in spite of his socialistic rhetoric. Notwithstanding his Nobel Peace Prize, military spending is at all-time highs and we are engaged in actual and proxy wars across the Middle East and in the Ukraine. Race relations have never been worse. Poverty levels have never been worse. Real median household income is lower than it was in 1989. Real hourly wages are at 50 year lows. Home ownership has plunged to 50 year lows, as middle class workers have been kicked out of their homes and young people are saddled with so much student loan debt and bleak job opportunities they will never have an opportunity to own. The ownership society pushed by Clinton and Bush, with the proliferation of Wall Street created ‘exotic’ subprime mortgages, peddled to people incapable of paying their mortgages, blew up the world in 2008, and the fall out will last for decades.
Meanwhile, Wall Street banks have reaped $700 billion of ill-gotten profits since 2010 as the Federal Reserve has handed them trillions of interest free funds to gamble with, while rigging the financial markets, and paying their executives obscene bonuses. The hubris and arrogance of the Wall Street titans is appalling, as they buy politicians, write toothless financial regulations (Dodd Frank) for their bought off politicians to pass, report fraudulent financial results with the stamp of approval from the FASB, blatantly rig interest rate, currency, stock and commodities markets, and use deception and propaganda to distract and mislead the public through their corporate media mouthpieces – dependent upon Wall Street advertising revenue to thrive.
And still, Obama has not prosecuted one banker for the largest control fraud in world history, as he assumed the role of useful puppet to the vested financial interests. I’m sure he will be paid handsomely after he leaves office in 2017, just as Bill Clinton, Alan Greenspan, and Ben Bernanke have been richly rewarded by their Deep State benefactors for a job well done.
Illegal immigrants are pouring over our borders with encouragement from the Obama administration. Obamacare has proven to be a giveaway to health insurance conglomerates, hospital corporations, and drug companies, as insurance costs are driven higher, care deteriorates, and deficits soar ever higher. The welfare state has grown to immense proportions, with 46 million Americans remaining on food stamps, proving the reported unemployment rate of 5.1% to be a fraud. The labor participation rate of 62.6% is at levels last seen in 1977 and far below the 67.1% rate achieved from 1997 through 2000. The politicians and corporate media applaud $600 billion deficits as an achievement, while 10,000 Boomers turning 65 per day is guaranteed to drive future deficits back over $1 trillion per year.

This post was published at The Burning Platform on 14th September 2015.

The Oligarch Recovery – Study Shows Real Wages Have Plunged for Low Income Workers During the ‘Recovery’

The following article from the New York Times is shameful in many ways. While the paper is forced to cover the undeniable fact that real wages for the lowest income Americans have plunged during the so-called ‘economic recovery’ over the past six years, it fails to actually pin blame on the undemocratic, oligarch institution most responsible for this humanitarian crisis: The Federal Reserve.
Of course, I and many others have been saying this for years, but now more than half a decade into what is supposed to be a recovery, people are finally being forced to admit what this really is – large scale theft.
In fact, Ben Bernanke and his crew of upward wealth distributing academics have pulled off the greatest wealth heist in American history. In its wake we have been left with a hollowed out, asset striped Banana Republic. Thanks for playin’ Main Street. Or more accurately, thanks for being played.
From the New York Times:

This post was published at Liberty Blitzkrieg on Sep 3, 2015.

Pentagon Plans to Boost Drone Flights 50% as Bernanke Warns Cutting Defense Spending Could Hurt Economy

In the event you were becoming concerned that the U. S. government might be backing away from its longstanding policy of endless violence, militarism and bloodshed, fear not. If we know one thing for sure, it’s that defense contractors and the military-intelligence-industrial complex must earn. And continue to earn it will.
So despite the Air Force having a hard time finding pilots for its drones, the Pentagon still plans to ramp up drone flights by 50% over the next four years.
We learn from the Wall Street Journal that:
The Pentagon plans to sharply expand the number of U. S. drone flights over the next four years, giving military commanders access to more intelligence and greater firepower to keep up with a sprouting number of global hot spots, a senior defense official said.
The plan to increase by 50% the number of daily drone flights would broaden surveillance and intelligence collection in such locales as Ukraine, Iraq, Syria, the South China Sea and North Africa, said the official, who provided exclusive details of the plan to The Wall Street Journal. It would be the first significant increase in the U. S. drone program since 2011, reflecting pressure on military efforts to address a cascading series of global crises.
While expanding surveillance, the Pentagon plan also grows the capacity for lethal airstrikes, the most controversial part of the U. S. drone program and its rapid growth under President Barack Obama . Strikes by unmanned aircraft have killed 3,000 people or more, based on estimates by nonpartisan groups.

This post was published at Liberty Blitzkrieg on Aug 17, 2015.

Subprime Auto Loan ‘Titan’ Foolishly Proclaims There’s Nothing to Worry About

Some of you will read the title of this post and wonder why I chose to cover this in light of all the other things happening in the world. While the rapidly growing subprime auto market might seem unimportant on a relative basis, I think it’s very significant as a microcosm of the many failures within the U. S. economy since the financial crisis, during which oligarchs were bailed out and the rest of the nation was left hung out to dry.
I best summarized how disturbing current trends in the U. S. economy are in the post, Land of the Debt Serf – How ‘Auto Title Loan’ Companies are Ruthlessly Preying on America’s Growing Underclass. With regard to trend toward debt serfdom, I noted:
Think about how troubling this is for a second. In the run-up to the last crisis, Americans borrowed on their home equity and used the proceeds to remodel kitchens, etc. Now these same Americans are so completely broke, the only asset they can borrow against is their cars, and they are desperately using the money to purchase groceries, pay cable bills, etc. Thank you Ben Bernanke.;

This post was published at Liberty Blitzkrieg on Jul 21, 2015.

Geithner’s Ghost Writer and the Parable of the River of Risk

Michael Grunwald has written a column attacking Senator Bernie Sanders. It is entitled ‘Don’t break up the megabanks.’ As Grunwald appropriately discloses, he is Timothy Geithner’s ghost writer and a fervent co-religionist of Geithner’s gospel of adoration of and devoted service to the world’s most fraudulent bankers.
Grunwald gives the reader fair warning that he has no financial expertise and is prepared to say anything to try to defend the banksters and Geithner when he makes his first argument the claim that it is ‘un-American’ to break up banks that pose a global systemic risk. To the contrary, few things could be more American if you are even remotely familiar with American views of megabanks from the founding of our Republic.
I will return to responding to Grunwald’s efforts to prove that Geithner was correct to protect the world’s largest and most criminal banks and banksters from effective regulation and prosecution in a subsequent column. First, however, I will write a series of columns on Grunwald’s heroic effort to convert Geithner (with Alan Greenspan and Bernanke) from one of the Nation’s three worst anti-regulators into a regulatory sage complete with a parable of the ‘river of risk.’ Geithner infamously boasted that he was never a regulator in a rare foray into candor. But the new Geithner is reimagined by Grunwald as a regulatory guru. Grunwald’s effort at sycophancy is in another demonstration of our family rule that it is impossible to compete with unintentional self-parody.

This post was published at Wall Street Examiner by William Black ‘ June 10, 2015.

Bernanke Wants the U.S. President to Declare ‘Economic Emergencies’ in Future Crises

Presidents should get the power to declare economic emergencies along the lines to declare war, said former Federal Reserve Chairman Ben Bernanke on Monday.
It might make sense to give ‘the president some ability to declare emergencies or take extraordinary actions and not put that all on the Fed,’ Bernanke said at a conference. ‘The constitution gives the president significant flexibility to respond to military situations,’ in part because they are chaotic, he noted.
‘I am sure it is not politically possible, but it would be worth thinking about,’ the former Fed chairman said.
– From the MarketWatch article: Presidents Should Be Able to Declare Economic Emergencies: Bernanke
For those of us who remain horrified and disgusted by the 2008-09 Federal Reserve and U. S. government bailout of the kleptocratic oligarchs who created the crisis, the above comments by the mastermind of this historic theft should be extremely concerning.
Although bankers and oligarchs got everything they wanted and more from the post crisis panic, what seems to bother Bernanke is that some of the response measures had to be pursued publicly. By calling for the U. S. President to declare economic emergencies in future crises, he is explicitly saying he doesn’t want Congress involved at all, even if just ceremonially. This man is a dyed in the wool fascist.
MarketWatch reports that:

This post was published at Liberty Blitzkrieg on Mar 3, 2015.

Fed Fischer’s Complete & Bizarre Nonsense: Oil Price Collapse “Making Everybody Better Off”

“I’m not very worried,” explains Fed Vice Chairman Stan Fischer in a very Bernanke-“contained”-like nonchalence about the total collapse of oil prices (and US oil producer stocks). Sharply lower oil prices will boost spending and aid U. S. growth, Fischer stated in a mind-blowingly naive speech for the 2nd-most-important-monetary-policy-maker-in-the-world, adding that lower oil prices were “a phenomenon that’s making everybody better off.”
We don’t understand his ignorance: as Raul Ilargi Meijer noted earlier, Fischer is talking about money that would otherwise also have been spent, only on gas. There is no additional money, so where’s the boost?This is just complete and bizarre nonsense.

This post was published at Zero Hedge on 12/02/2014.

Child Poverty Jumps by 2.6 Million in Developed World Since 2008, While Number of Global Billionaires Doubles

Two headlines came across my screens today, which taken together pretty much sum up the effects of policy decisions made by Central Bankers and politicians since the financial crisis. The financial oligarchs got bailed out, and the rich got richer due to decisions made by ‘leaders’ around the globe. As such, the entire planet has now been transformed into a neo-feudal tinderbox. Myself and countless others warned all the way back to 2008 that this is what would happen, and here you have it.
Let’s first examine the results from Oxfam’s report on the billionaire growth spurt. I hope all 1,645 of you have sent thank you notes to the patron saint of oligarchy: Ben Bernanke. From NBC:
The super-rich club has become less exclusive, with the amount of billionaires doubling since the financial crisis, according to a report from global charity Oxfam. There were 1,645 billionaires globally as of March 2014, according to Forbes data cited in the Oxfam report, up from 793 in March 2009.
The report ‘Even it Up: Time to End Extreme Inequality’ noted that the world’s richest 85 people saw their wealth jump by a further $668 million per day collectively between 2013 and 2014, which equates to half a million dollars a minute.

This post was published at Liberty Blitzkrieg on Oct 30, 2014.

You Know It’s Bad When…

President Obama is saying the economy is better, Bernanke is warning that real people don’t believe that; and while earning $250,000 per speaking engagement, Ye ‘Olde’ Fed head was unable to refinance his mortgage…
The world has gone insane…
First, President Obama unleashes his ‘the economy is doing great so stick with the Democrats at the election’ strategy:
*OBAMA SAYS ECONOMIC PROGRESS HAS BEEN `STEADY’; `IT IS REAL’ Except it’s not…

This post was published at Zero Hedge on 10/02/2014.

The Federal Reserve Explained in 7 Minutes

Is the Federal Reserve a government institution? How and when was this central bank of the United States formed? Why are US citizens forced to divulge all their financial information under penalty of law, yet that of the Federal Reserve remains veiled? The following short video sheds light on this otherwise dark banking enigma.

For more information on this shady outfit, read this brief article on exactly how the Federal Reserve System works. And see a simple, illustrated example of the subtle fleecing of the US currency system since the Fed’s inception.