62413 Gleaning The Great Wal Mart of China Year of The Drowning Water Snake
As Natural News predicted: NSA has been blackmailing Supreme Court judges, members of Congress and more
Soldier Found Guilty By Army After Reprimand for Reading Books By Conservatives:There’s no question about it,” Wells told Fox News. He is religious, because he feels that homosexual conduct is wrong for religious reasons, he is basically being persecuted!
Marina Kolomiyets, spokeswoman for Obninsk’s seismic station of the Russian Academy of Sciences, said on Sunday the epicentre was in the Sea of Okhotsk, east of the Russian coast and north of Japan. She said the quake registered 8.0 on the Richter scale.
MONUMENTAL EARTH CHANGES: The Canadian Deluge – Half A Year’s Rainfall In JUST ONE DAY In Southern Alberta; At Least 75,000 People Evacuated; Highways, Homes And Whole Neighbourhoods Washed Away; Thousands Without Power; Three Dead!
“Iran’s newly elected president, Hassan Rohani, attributed his victory in the June 15 voting to the 12th Imam, Mahdi, a statement with ominous overtones in the Islamic regime’s quest for nuclear weapons,” reports former Iranian CIA operative Reza Khalili, based on public reporting in Tehran. “The Shiites believe that at the end of times, the 12th Imam, a 9th-century prophet, will reappear with Jesus Christ at his side, kill all the infidels and raise the flag of Islam in all four corners of the world. Many analysts believe Iran is seeking nuclear capability to bring on that Armageddon.”
Did you know that you are involved in the most massive Ponzi scheme that has ever existed?
One day Uncle Sam woke up and realized that the amount of debt that he owed was now more than 5000 times larger than it was when Fred had first approached him with this ill-fated scheme. Uncle Sam now owed more than 16 trillion notes to his creditors, and Uncle Sam had already made future financial commitments of 202 trillion notes that he would never be able to pay.
Does this little story sound crazy to you? It shouldn’t. The truth is that you are involved in such a scheme right now. In case you haven’t figured it out, “Uncle Sam” is the United States, the “notes” are U.S. dollars, and “Fred” is the Federal Reserve.
End result: the Shanghai Composite, which had largely been able to weather the recent dramatic shocks to both liquidity and the economy, finally threw in the towel and crashed. Moments ago the Shanghai Composite fell 5.5%, the biggest intraday slide since August 2009, and dropping below 2,000 for first time since December.
Simply put – the retail audience is becoming aware of the risks (Step 5 is breaking), Trust companies are increasingly illiquid and also unwilling to act as conduit carrying the short-term risk (Step 3), which stalls the recycling of deposits back into banks (Step 6) crushing the banks’ ability to lend and keep the glorious growth cycle going…
From wealth-management to wealth-massacre in one easy loop.
Of course, if the BIS’s warning about what is coming to the “developed markets” is accurate, this is nothing but a pleasant rehearsal of what one can expect in the US and in other G-7 places.
So the American economy faces a long twilight of no growth, rising taxes, and brutally intensifying fiscal conflict. These are the wages of five decades of Keynesian sin – the price of abandoning financial discipline.
This threat is owing to the fact that the fiscal gong show now unfolding will almost certainly trigger a drastic upward lurch in both the savings rate and the tax rate on household incomes.
Housing asset values have already crashed by 33 percent and have mounted only a tepid recovery. But they will soon undergo another thundering setback when the baby boom retirement army is forced to liquidate millions of empty nests in order to survive financially. Needless to say, the next generation, saddled with $1 trillion of student debts and small earned incomes, will not be open to buy. Since prices inexorably fall in a bidless market there will be nothing to break the decline except an insolvent government.
Given a 20 percent marginal Federal tax take, for example, fiscal stimulus measures would need to generate a 5X GDP multiplier in order to break even. And that is the profound dilemma of peak fiscal debt: there is no remaining headroom in the national debt for policy makers to gamble with play money stolen from future taxpayers.
According to CNN Money, 76 percent of Americans are living paycheck-to-paycheck.