Lies are always misrepresentations of reality, and reality always wins. The US government rests on an inherently unstable foundation of whoppers - big lies so huge they would make big lie proponent Adolf Hitler blush. The first trick to defeating an enemy is to ascertain its biggest weaknesses and the lies, which it feeds itself, flowing from those weaknesses.
When people lose everything and they have nothing to lose, they “lose it.”
The Keynesians will not be pleased. Despite the holiday season, December spending disappointed with no change MoM (0.0% vs +0.1% exp). This is further sentiment-destructivbe as income data rose more than expected MoM (+0.3% vs +0.2% exp) even as income growth YoY slipped to its weakest in 9 months. This of course means the personal savings rate rose, pushing to 5.5% - the highest since 2012.
Something dire has happened to the intelligence and awareness of Western peoples who seem no longer capable of comprehending the machinations of “their” governments. Accountable government in the West is history. Nothing but failure and collapse awaits Western civilization.
Meet "the deciders"...
- Unease over Fed rate path dents European stocks (Reuters)
- Global Stocks Pressured After Fed Statement (WSJ)
- Japan's Economy Minister Amari to Resign Over Graft Scandal (BBG)
- Authorities working to clear remaining protesters in Oregon occupation (Reuters)
- China Sharpens Efforts to Halt Money Outflow (WSJ)
- Eurozone January Economic Sentiment Falls Sharply, Hits 5-Mth Low (MNI)
Fed officials and financial news reporters are collectively wondering why the economy seems to be slowing down, even though lower oil and gasoline prices ought to be a stimulative factor. If consumers are spending less of their money on gasoline, then they ought to have more to spend on other stuff, or so goes the reasoning. So why is it not working?
For the Sanders and Trump voters, the status quo seems not only unacceptable, but intolerable. And if their candidates and causes do not prevail, they are probably not going to accept defeat stoically, and go quietly into that good night, but continue to disrupt the system until it responds. Unlike previous elections in our time, save perhaps 1980, this appears to be something of a revolutionary moment. We could be on the verge of a real leap into the dark.
In stark but simple terms, unless Americans are made aware of this financial crisis and demand accountability, the very fabric of our society will be destroyed.
While we may poke fun at North Koreans’ gullibility, frankly we don’t find the idea of ‘hangover-free alcohol’ any dumber or less deceptive than the idea of ‘consequence-free debt’. Or the idea that you can print your way to prosperity. Hangover-free alcohol is pretty silly. But in the West, we believe the biggest lies of all...
Most Americans receive benefits of one type or another from their government; and most Americans receive their opinions from the media. The pervasive difficulty here lies in the erroneous concept that there can be a return to freedom whilst maintaining the dependency upon largesse from the State. “Government is the great fiction, through which everybody endeavours to live at the expense of everybody else.”
President Barack Obama’s final State of the Union address came up short of the facts on several topics. Obama apparently omitted part of his presidency in boasting of nearly 900,000 manufacturing jobs “in the past six years.” Over his entire time in office, manufacturing jobs have gone down by 230,000.
- China trade surprise brings relief (Reuters)
- Obama knocks Trump, voices optimism (Reuters)
- Republican Candidates Criticize Obama’s State of the Union Address (WSJ)
- Republicans and Democrats Agree: We Hate Wall Street (WSJ)
- Oil rises for first time in eight sessions on China, U.S. stocks draw (Reuters)
- U.S. Exports First Freely Traded Oil in 40 Years (WSJ)
- China Imports Record Crude as Price Crash Accelerates Buying (BBG)