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Martin Armstrong Slams "The Cost Of Socialism" - 206 Million Unemployed

Tyler Durden's picture


Submitted by Martin Armstrong via ArmstrongEconomics blog,




A United Nation study has reported that about 206 million people are now unemployed.

This is the cost of socialism taxing the rich so there is no job creation with nearly half of that number amounting to youth under 25 years old. The economy on a global scale is terribly weak. This UN annual report released Monday by the International Labour Organisation (ILO) is shocking and politicians cannot see what they are doing to the future.




The future does not look bright at all. The UN is projecting that by 2018 the number of unemployed youth will climb to about 215 million. This type of forecast is simply taking the trend in motion and projecting the same pace forward. There will be an exponential rise after 2015 and this will be a Phase Transition resulting in greater violence and protests all because governments refuse to even consider what their policies have been doing.


Executive Summary of ILO report:




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Wed, 01/22/2014 - 15:49 | 4356301 rsnoble
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Wed, 01/22/2014 - 15:55 | 4356329 fonestar
fonestar's picture

Sad?  Yes, but things need to collapse for people to give up their government addictions.  The hardest lessons learned are the one that stick.

Wed, 01/22/2014 - 15:58 | 4356340 GVB
GVB's picture

First time I upvoted you

Wed, 01/22/2014 - 16:13 | 4356407 Troll Magnet
Troll Magnet's picture

Can't President Soetero outlaw unemployment?  If you apply for a job, you must be offered a job.  Problem solved, right?

Wed, 01/22/2014 - 16:19 | 4356419 Looney
Looney's picture

ONLY 206 million?

Scizo Abe, Mario-in-drag, Yellenanke and the rest of the Pink Team will save us all! Save us from our money, that is.


Wed, 01/22/2014 - 16:29 | 4356473 Joe Davola
Joe Davola's picture

We need some legal way to keep all those people mellow and hungry, otherwise they might get fired up and do something about the condition their condition is in.

Wed, 01/22/2014 - 17:19 | 4356684 ILLILLILLI
ILLILLILLI's picture

I'm thinking that some "Magic Brownies" would fill a need here, eh?


It is no accident that you are seeing pot made legal...

Wed, 01/22/2014 - 17:48 | 4356788 fonestar
fonestar's picture

That pic.... kinda made me wonder if they spent as much time on their resume as their piercings, tattoos, dreads, fake glasses, etc, etc?

Wed, 01/22/2014 - 18:02 | 4356830 akarc
akarc's picture

So what we can glean for your response is that if people do not look as you think they should................

Tattooed all over here. However if I put on a suit you would never know it.

Wed, 01/22/2014 - 18:09 | 4356841 fonestar
fonestar's picture

If you invest heavily in looking like a slacker, there's a chance your job prospects may diminish along the way (or you only find work as a hipster barista).

I have no tattoos, I fancy myself more of an existential rebel.

Wed, 01/22/2014 - 18:52 | 4356958 James_Cole
James_Cole's picture

This is the cost of socialism taxing the rich so there is no job creation 


Gawd people...

Wed, 01/22/2014 - 18:54 | 4356964 Anusocracy
Anusocracy's picture

Nothing that can't be solved by a 50-year War on Unemployment.

Wed, 01/22/2014 - 18:58 | 4356976 James_Cole
James_Cole's picture

If only the rich were taxed less, jobs would overflow! Nothing the rich want more than to get that unemployment rate down lol Gawddamn taxes standing in the way of the uber rich helping out their fellow humans... 

Oh and don't forget about minimum wage. Get rid of that minimum wage and we can keep the illusion of profit gains going for another 5 years. 

Wed, 01/22/2014 - 19:26 | 4357049 Stuck on Zero
Stuck on Zero's picture

I agree.  The rich aren't taxed much anywhere.  The middle class is taxed and paperworked to death in real-world Socialism.


Wed, 01/22/2014 - 19:41 | 4357090 Four chan
Four chan's picture

thank you trilateral commission, and the council on foreign relations.

Thu, 01/23/2014 - 12:43 | 4359170 outamyeffinway
outamyeffinway's picture

Thank you Bill Clinton (Nafta)

Wed, 01/22/2014 - 20:17 | 4357205 Big Brother
Big Brother's picture

Yeah, I stopped reading too after I got to that sentence.

Wed, 01/22/2014 - 18:57 | 4356973 akarc
akarc's picture

I think I am a rebel, therefor I am?

Wed, 01/22/2014 - 20:21 | 4357217 TheReplacement
TheReplacement's picture

It beats the concept that you have to look like everyone else to be a rebel.  Go to any "rebel" hotspot and they all look the same, fake.

Thu, 01/23/2014 - 04:32 | 4358173 Canoe Driver
Canoe Driver's picture

Sadly, conformity of appearance is yet another American disease. Every social and and professional subgroup does it. Most women dress the same, almost a uniform, actually, and most men dress the same, most lawyers have a look, most engineers have a look, most politicians look the same, etc.  If not, why doesn't Obama rock a nice, modest 4-inch afro? We are all trying to be included in one or more groups. For Obama, it's the group of white world "leaders" who have no idea how to lead.



Wed, 01/22/2014 - 19:22 | 4357041 Miffed Microbio...
Miffed Microbiologist's picture

After drawing blood from many old WWII vets I wished they had done some public service announcements for kids contemplating getting a tattoo today. Anchors on arms at 80 no longer look like anchors. I can't imagine the scary images in 40 years.


Thu, 01/23/2014 - 04:25 | 4358168 Canoe Driver
Canoe Driver's picture

"If people do not look as you think they should...." Then what?  No one is required to associate with your slacker arse. Did you know that?

And who cares how "tattooed" you are? You are more conformist than the average accountant. 

Wed, 01/22/2014 - 16:35 | 4356512 Hobbleknee
Hobbleknee's picture

Double the number to get somewhere closer to the truth.

Wed, 01/22/2014 - 17:05 | 4356635 0b1knob
0b1knob's picture

Increased dependence on the government.


That's not a bug, its a feature.

Wed, 01/22/2014 - 17:19 | 4356693 BigJim
BigJim's picture

 ONLY 206 million?

Technically, anyone scrabbling around in dungheaps looking for food is regarded as 'employed'.

Wed, 01/22/2014 - 16:23 | 4356448 DoChenRollingBearing
DoChenRollingBearing's picture

@ GVB  Merit should be rewarded.

@ fonestar  Just today I bought BTC for cash locally.


More gold, more BTC, more bearings!  A great day for freedom!

Wed, 01/22/2014 - 17:53 | 4356807 fonestar
fonestar's picture

Good for you Bearing!  I have yet to buy or sell BTC for cash face-to-face.

Wed, 01/22/2014 - 16:01 | 4356356 SoilMyselfRotten
SoilMyselfRotten's picture

BS, lowering corporate taxes will only enrich those at the top. Companies are flush with cash and they are sitting on it or buying back stock, they aren't using it to hire people.

Wed, 01/22/2014 - 16:12 | 4356397 NidStyles
NidStyles's picture

Maybe you haven't noticed but those people are rich anyways, and they will keep becoming richer as long as they are being forced to commit illegal activities to support their growth of wealth. The return is worth the meager fines.


Additionally, most companies are actually in the red and are cooking their books by using their own stock valuations as a part of their assets which inflates them. It's the reason why QE is the preferred method used by the Fed to prop them up


Wed, 01/22/2014 - 16:19 | 4356430 Zymurguy
Zymurguy's picture

I don't care about the rich, I just want to stop getting poorer each year.

So, stop the fucking money printing.  Stop the corp. war dept., Stop paying fucking animalistic radical retard nations millions of dollars every year to be our friends, stop letting politicians manipulate tax laws for their benefit and stop trying to manipulate laws/regulations to make eveyone in the US a criminal.

Wed, 01/22/2014 - 16:24 | 4356453 centerline
centerline's picture

Making you poorer is how they stay rich though.

Wed, 01/22/2014 - 16:27 | 4356464 NidStyles
NidStyles's picture

No it isn't. It's how they become tyrants.

Wed, 01/22/2014 - 16:54 | 4356596 centerline
centerline's picture

Is there a difference when the non-productive live off the productive?  Threaten thier standard of living and find out.

Wed, 01/22/2014 - 17:18 | 4356679 NidStyles
NidStyles's picture

Tyrants need willing Armies to make sure they can stay in charge.


Why not build your empire by recruiting directly from the mob by making them so poor that they have no other reasonable choice?

All of this stuff makes very real sense if you simply look at it that way. The US is turning into an Empire. Eventually there will be a dictator. This is merely history echoing.

Wed, 01/22/2014 - 17:48 | 4356751 centerline
centerline's picture

Solid point NS.  Thanks.

Something along the lines of slavery to freedom, freedom to apathy, and apathy back to slavery.

Although freedom is relative.  I recall being taught in school when I was young a concept called the social pendulum... that we simply swing back and forth.  That lesson has proved to be more true than I could have imagined.


edit:  I think that many nations are in fact and have always been empires underneath.  Just a matter of how much of the truth is visible at the surface.  Everything else is jsut varying degrees of illusion.

Wed, 01/22/2014 - 22:28 | 4357645 NidStyles
NidStyles's picture

All nation-states are budding empires, it's as simple as that. Every time you get a group of people together and let them create the rules for the other societies within the geographical region, you are setting that region up for tyranny. I am not saying that it always happens, because smaller nation states haven't a chance to compete with the larger empires. 

I've read on the Social Pendulum, and honestly I think it's a trend that can be broken if the people are willing.


As for the illusions, only true empires can come out and state that it's an empire. The US is an obvious empire on the rise. The next ten years will define whether the US crumbles or rises to start taking over. My guess is that it will crumble just like the Roman empire did.

Wed, 01/22/2014 - 20:27 | 4357232 TheReplacement
TheReplacement's picture

I have yet to really figure out how to fight back but this much is clear:  They don't make you poorer, you do.  They don't stay rich, you let them.  Everything is up to you, nobody else.  What you do and why is up to you, not them.

Wed, 01/22/2014 - 21:33 | 4357468 centerline
centerline's picture

No. As long as you exist in thier world, they make you poorer.  You can't keep up.  Just a matter of how much.  If you are the margins, it really sucks.  Add a little income and it gets a little better, etc.  But, nonetheless, you are getting bled.  The only way to avoid this is to get out of the system... good luck with that.  It really isnt practical.

Wed, 01/22/2014 - 16:27 | 4356466 NidStyles
NidStyles's picture

I agree on every point.

Wed, 01/22/2014 - 20:25 | 4357223 TheReplacement
TheReplacement's picture

You sure want someone else to do a lot of things.

Thu, 01/23/2014 - 07:31 | 4358254 StandardDeviant
StandardDeviant's picture

No, he wants them to stop doing things they shouldn't.  Big difference.

Wed, 01/22/2014 - 16:11 | 4356398 ACP
ACP's picture

And why are they flush with cash? Because of government cronyism and the uncertainty brought on by this creeping (or established) socialism in the US and all over the world. Businesses are in business to spend money to make more money, not sit on cash and buy back stock with debt.

Wed, 01/22/2014 - 16:12 | 4356404 Uber Vandal
Uber Vandal's picture

I normally do not like linking to CNBC, but yes, global companies are sitting on about 7 TRILLION dollars in cash


Wed, 01/22/2014 - 16:22 | 4356446 Sophist Economicus
Sophist Economicus's picture

Yup, did they happen to mention the amount of new debt they acquired along the way?     The balance sheets are worse than before 2008

Wed, 01/22/2014 - 16:43 | 4356553 eclectic syncretist
eclectic syncretist's picture

No worries about all this stuff dudes!  The IMF just raised their forecasts for global and US GDP for 2014.  The global economy is going to grow 3.7% this year.  Check it out!

Wed, 01/22/2014 - 17:54 | 4356808 Five8Charlie
Five8Charlie's picture

Thank God. I was worried there for a minute.

Wed, 01/22/2014 - 18:56 | 4356968 Nick Jihad
Nick Jihad's picture

Hot damn! Time to make that downpayment on a yacht.

Wed, 01/22/2014 - 16:23 | 4356456 debtor of last ...
debtor of last resort's picture

To buy small businesses for pennies on the dollar for expanding their empires.

Wed, 01/22/2014 - 16:24 | 4356442 Millivanilli
Millivanilli's picture



How about bailing out failing banks with zero percent money, or zero percent interest, or immunity from prosecution for money laundering, securities fraud and rate rigging.  Shit, the federal reserve is daddy warbucks at the expense of the purchasing power of most Americans.


In America, the MIC gets 700 BILLION a year and yet affordable healthcare is beyond our capacity- a complex problem that won't be solve until we focus on HEALTH.   The point is that the wealthy and connected ARE THE FREE SHIT ARMY.   Why didn't Martin mention this?


Wed, 01/22/2014 - 16:27 | 4356470 Sophist Economicus
Sophist Economicus's picture

You're confusing banks - which are government regulated entities there to buy soveriegn bonds and other crony capitalist companies (insurance companies, defense companies, etc) with non-government coddled companies which have seen regulations, taxes, fees, etc explode.


This meme that ALL wealthy (however that is defined) people are somehow 'connected' is a simplistic worldview adopted by morons, malcontents and socialists 

Wed, 01/22/2014 - 16:37 | 4356501 Millivanilli
Millivanilli's picture

You didn't read what I wrote, DID YOU? 


I said the wealthy AND connected are the REAL FREE SHIT ARMY.    BTW, if the vast majority of jobs are created by SMALL businesses and they can't get access to capital, WHO GETS FUCKED?


I guess you missed the bailout of SHITIGROUP, WELLS FARGO, GS, JPM, or  QE 1,2, 3 lite, and twist.  Who benefitted from the stock market rise? Who lost from the fall of  dollar purchasing power?


What is simplisitic is your post.  

Wed, 01/22/2014 - 16:41 | 4356545 Sophist Economicus
Sophist Economicus's picture

It's really easy - just read your post.


The bailout of the banks = crony capitalist companies that scratch the back of government - no arguement they benefited from Fed and our noble excess spending polititians


Stock market rise benefitted anyone who had mutual fund, pension, ect invested in them - including therich.   But, newflash, can youu cite how many hedge funds had their ass handed to them the last couple of years becuase they COULD NOT match market returns and have seen massive redemptions (from the weathy, they are the only ones able to invest with them)


Go back to your Xbox and reading Das Kapital - life is easier for you there



Wed, 01/22/2014 - 16:51 | 4356569 Millivanilli
Millivanilli's picture

The FUCKWIT is strong with this one.   


Do you KNOW WHERE THE REAL ECONOMY STARTS AND THE PAPER ECONOMY ENDS? Who gets FUCKED when wages fall and inflation rises?  Who is RESPONSIBLE for this phenomenon? I find it difficult to respond to you because you seem  incapable of understanding what I wrote.  Instead you want to argue against what you THINK I wrote.  


Kick rocks, kid.   



Wed, 01/22/2014 - 16:57 | 4356612 Bioscale
Bioscale's picture

Don't waste your time on this stupid fuck.

Wed, 01/22/2014 - 20:03 | 4357149 acetinker
acetinker's picture

Milli, Armstrong is directly trying to mislead and further divide (go figure).  Anyway, my take is that if the uber-rich can make shit-tons in an artificially inflated market, what is their incentive to take risks in the real economy?

I'm not defending or prosecuting anyone here.  Just sayin' the incentives are perverted by the central banks.

Wed, 01/22/2014 - 16:51 | 4356587 barroter
barroter's picture

Bail out the rich because they'll back the rest of they did the last time. Wait...they NEVER did! 

FREE SHIT ARMY is right.  If we pulled very stimulus penny, pulled every corporate subsidy, every favorable tax law that favors the rich and corps...they'd collapse in a few days. The wealthy NEED government.  

Wed, 01/22/2014 - 17:01 | 4356623 LMAOLORI
LMAOLORI's picture




I agree with you on the first portion of your post (but not on the affordable healthcare that's also the free shit army).  It is hypocritical though to lament about subsidizing the poor's bad behavior without giving the same amount of scrutiny to the rich.

After all rewarding bad behavior begets more bad behavior and that's as true with the rich making money off of QE as it is the lower echelons of society sitting on the dole.



Wed, 01/22/2014 - 17:07 | 4356643 Millivanilli
Millivanilli's picture

I agree. Affordable health care can only be achievable in a free market economy when people focus on health rather than treating disease.   



Wed, 01/22/2014 - 17:28 | 4356724 LMAOLORI
LMAOLORI's picture



We're on the same page then :) thanks for the clarification

Wed, 01/22/2014 - 17:59 | 4356817 Random_Robert
Random_Robert's picture

"Companies are flush with cash and they are sitting on it or buying back stock, they aren't using it to hire people."

Correct, and for good reason-   most companies are slowly replacing manufacturing labor with robots, and they have no reason to increase SG&A head counts since the order book looks abysmal, and the book to bill ratio is in the toilet.

People without jobs tend not to add to general demand levels for more stuff... The Keynesian cult of idiocy classifies this phenomenon as deflation, but it is actually, in realistic terms, simply basic econ 101.

Fascinating field of study, Economics-  the first week begins with Supply and Demand, then then the rest of the multi-year curiculum is spent trying to convince you that neither of these factors actually matter at all...






Wed, 01/22/2014 - 21:23 | 4357152 JuliaS
JuliaS's picture

Companies hire people when workers bring in more than it costs to keep'em around. Taxes, regulation and automation ensure that the cost of employing each marginally efficient uniformed degenerate is becoming more and more prohibitive (govt. jobs don't apply).

Think how much it takes to keep you alive and compare it to your productivity.

If you drive a car, it uses gasoline, which is quite a miracle. A force of hundreds liquefied slaves pushing you meat canister around day in and day out. Try pushing your own car around everywhere you go. Think that desk, retal or other kind of job you're doing justifies the amount of fuel burned? That fuel is an equivalent of many men-hours of work. How much work do you do to justify fool, fuel, electricity and shelter that you get in return?

I doubt the worth of anyone in an industrial society measures up to their appetite. It's also a miracle, quite frankly, that those with access to cheap (formerly abundant) energy choose to share it with the rest of us. It's a miracle that companies that could use drones still bother to hire people. It's a miracle that only some check-out isles are self-serve, as oppose to all of them.

It's a miracle that we had the luxury of decades long advance warning before all of this. We knew the oil price was rising. We knew computers were getting smarter. We knew the good-paying jobs were getting harder to find. None of this comes as surprise.

We simply cannot go on, pretending that it can last forever - this excess consumption model. At some point we have to face the fact that our needs aren't going to be met and then we'll either have to supply ourselves, drop most of the needs, or most likely - both.

Wed, 01/22/2014 - 23:13 | 4357789 TheAnswerIs42
TheAnswerIs42's picture

Excellent thoughts, but keep in mind that that it keeps on going thanks to ZIRP, which cuts both ways.


Wed, 01/22/2014 - 16:02 | 4356357 Sudden Debt
Sudden Debt's picture

you'll hear the voice of the people when they have nothing more to lose.

Wed, 01/22/2014 - 16:16 | 4356421 Troll Magnet
Troll Magnet's picture

So you're saying we must take away their Obamaphones and data plans for them to wake up?

Wed, 01/22/2014 - 16:53 | 4356593 RafterManFMJ
RafterManFMJ's picture

This would be an awkward time for me to admit I access the 'hedge on my Obamaphone...

Wed, 01/22/2014 - 16:04 | 4356361 dick cheneys ghost
dick cheneys ghost's picture

yes the dollar must die as this unemployment is a function of dying debt-based currencies from around the world........

unfortunatly, invisible coins are not the answer........

the world will return to Gold/Silver, history is very clear on this

Wed, 01/22/2014 - 16:33 | 4356508 Kirk2NCC1701
Kirk2NCC1701's picture

DCG, our struggle is not with each other (gold vs crypto-$), it's with the Central Banksters and Central Planners.  Stay focused, keep the faith.

Wed, 01/22/2014 - 16:28 | 4356475 Kirk2NCC1701
Kirk2NCC1701's picture

@fonestar: "The hardest lessons learned are the one that stick."

Ah, yes, but some lessons NEVER stick.  E.g. The old D&C (Dive & Conquer), i.e. the faux argument of the Right-wing/Conservative vs. the Left-wing/Liberals, while the 1% and especially the 0.01% go into ROTF LMAO mode.

Keep fighting each other, peasants and sheeple.  The Elite Oligarch raise a toast.  The richest 85 on the planet enjoy being "equal" (having as much) as half the planet.  Dumb fucks!

Wed, 01/22/2014 - 16:44 | 4356557 The.Harmless.Who
The.Harmless.Who's picture




(The BEST post).  


If we continue to fight over our differences rather than unite over the things that we have in common (against an evil enemy to most of mankind), then we will continue to be devoured by the Oligarchs


(yes, I know using the word "unite" will be linked to "socialism", thus must be evil, by association - and that's what certain entities like to do.  However, it is a lot easier to overcome when we are together rather than when we are divided).  



Wed, 01/22/2014 - 19:10 | 4357003 Nick Jihad
Nick Jihad's picture

What's your beef with the 85 richest people on the planet?  Are they actually doing anything intended to harm you? Is their life really that much better? Does the sun shine brighter on them? Do their dogs love them more? Go ask Steve Jobs how vast wealth is improving his quality of life.

Wed, 01/22/2014 - 15:57 | 4356334 Rubicon
Rubicon's picture

Greenland looks good

Wed, 01/22/2014 - 16:04 | 4356363 Sudden Debt
Sudden Debt's picture

and Iraq also... I hear they're looking for truckdrivers...

Wed, 01/22/2014 - 16:27 | 4356465 Agent P
Agent P's picture

As does Venezuela...go figure. 

Wed, 01/22/2014 - 23:16 | 4357805 TheAnswerIs42
TheAnswerIs42's picture

Any word from Tierra del Fuego?


Wed, 01/22/2014 - 16:00 | 4356345 BLOTTO
BLOTTO's picture

'Under capitalism, man exploits man while in Socialism its the other way around.

-Old Russian joke (Boris may be familiar with it)





Wed, 01/22/2014 - 16:04 | 4356372 Sudden Debt
Sudden Debt's picture

we've hadn't had capitalisme since 1989

Wed, 01/22/2014 - 16:18 | 4356427 NidStyles
NidStyles's picture

"... since 1780.""


Fixed that for you.

Wed, 01/22/2014 - 16:21 | 4356440 markovchainey
markovchainey's picture

We haven't had capitalism since 1913...

Wed, 01/22/2014 - 19:40 | 4357093 Buckaroo Banzai
Buckaroo Banzai's picture

...since 1865

Wed, 01/22/2014 - 18:50 | 4356511 LMAOLORI
LMAOLORI's picture



With Crony Capitalism you have people like Warren Buffet.  Good ole Crony Capitalist Bailed Out Warren Buffoon would have a lot less money to put in things if not for the U.S. taxpayer. He supports tax increases that would not affect him anyway and exempts his own Billions by way of the Gates Tax Exempt Foundation...

On top of that he is leaving charities that will pay his kids $90 Million a year to run he should have thanked us for the Bail Outs by writing a big fat check to the IRS in my opinion. He should also pay his corporate taxes.

Wed, 01/22/2014 - 16:00 | 4356353 DoChenRollingBearing
DoChenRollingBearing's picture




Yes, it is sad.  But, NONE of us ought depend on ANYONE but ourselves to take care of us and our families.

Socialism is just bad, a pitstop on the way to Communism.

Go Galt.  Hide your assets away.  Always own gold, with as much as you feel comfortable.

Vote or not.  Flee (send your money first!) or stay (arm up!)

Wed, 01/22/2014 - 16:08 | 4356386 scraping_by
scraping_by's picture

There is no Empty Land. That's been a myth forever. There's nowhere to run that isn't already someone's.

Socialsim has different assumptions that the mythical free market. It's also easy to sabotage, which is what usually happens.

Survivalists are fun to talk to. They always have blind spots that are grim humor. "I can hold out with civilization gone. I've got a great source for cheap Chinese ammo!"




Wed, 01/22/2014 - 17:25 | 4356425 DoChenRollingBearing
DoChenRollingBearing's picture

You are correct!  There is no Empty Land.  Not even Peru, their taxation authorities are aggressive as well.  But, smart and prepared people will do better under almost all scenarios.

Vote or not.  Stay or go.  Save your money and hide it well.

Gold, fishez!  Maybe a little BTC that you can access wherever you are...


But, hey, if you do not have children, it really does not matter.  Live it up.

If you DO have children, then get serious.  Save your money, and educate them.


Thu, 01/23/2014 - 09:26 | 4358418 Dr. Destructo
Dr. Destructo's picture

Better start building up a network if you haven't already. Lone, independent survivors are doomed to fail -people work better in tribes/packs.


Wed, 01/22/2014 - 16:07 | 4356387 overexposed
overexposed's picture

Agreed 1000%.  If we all do our part to starve the beast, how can it possibly survive?  (Well, other than OPEN tyranny.)

Wed, 01/22/2014 - 16:23 | 4356450 bobnoxy
bobnoxy's picture

Right on! And on general principles, you're going to refuse your Social Security and Medicare benefits too, right? No, the money you paid in doesn't come back to you. That was used to pay Grandpa. Everyone else's money will go to you. Socialism, right?

Wed, 01/22/2014 - 17:21 | 4356702 DoChenRollingBearing
DoChenRollingBearing's picture

Neither my wife nor I even qualify for Social Security nor Medicare.  We did not work long enough for The Man, kicking in the taxes and all.  

No .gov transfers are coming to Mr. and Mrs. Bearing.

Wed, 01/22/2014 - 16:25 | 4356447 Canadian Dirtlump
Canadian Dirtlump's picture

What is gonna be sad is when, in my view, deathsquads will be dispatch to start dealing with the hangers on.


p.s. fonestar you are a canuck? Where from?


p.p.s. at least we have more older folks working to pay the way for the millenials

Wed, 01/22/2014 - 18:15 | 4356862 midtowng
midtowng's picture

The one thing missing from this report is the word "socialism" or any blame on "taxing the rich" or pretty much anything resembling what this guy who wrote this article claims.

Wed, 01/22/2014 - 15:51 | 4356311 FieldingMellish
FieldingMellish's picture

Government shill = Armstrong.

Wed, 01/22/2014 - 16:14 | 4356368 akak
akak's picture


"206 million unemployed"?  Maybe if he is talking about JUST North America!

If Armstrong is talking about 206 million unemployed GLOBALLY, then the man is merely (once again) repeating the same egregious whitewashing lies of the power establishment.

Shill much, Martin?  Obviously, YES.

The man clearly sold his soul to the fed devil in order to be let out of prison.  All you who are proponents of Armstrong's current Establishment pimping and LIES routinely fail to explain the dramatic, near-180 degree turnaround in his tone and message that just happened to coincide with his release from prison.

The man is now either a Quisling or is going senile, maybe both.

Wed, 01/22/2014 - 16:27 | 4356468 Confused
Confused's picture

He has indeed done a 180. 

This is the cost of socialism taxing the rich so there is no job creation with nearly half of that number amounting to youth under 25 years old.

Something about this statement seems false. 

Besides, the only people I see paying taxes are the middle class. 

Wed, 01/22/2014 - 16:41 | 4356539 Millivanilli
Millivanilli's picture

Armstrong is full of shit.   


Small and midsized businesses are getting fucked. NOt the super wealthy.

Wed, 01/22/2014 - 16:53 | 4356591 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

I would NEVER open a new business here in America.


Been there, done that.  

Wed, 01/22/2014 - 16:55 | 4356600 Millivanilli
Millivanilli's picture

Exactly.   A small business entrepeneur has 5 hands in their pocket before they make a dime.

Wed, 01/22/2014 - 15:51 | 4356312 Thorny Xi
Thorny Xi's picture

Taxes have never been lower or easier to dodge.  This is what happens with globalism.

Wed, 01/22/2014 - 15:54 | 4356325 alangreedspank
alangreedspank's picture

That did not prevent governments from spending and working their magic.....which seems to have failed.

Wed, 01/22/2014 - 16:28 | 4356478 Confused
Confused's picture

On the middle class maybe. But last I checked the rich are not being taxed out of their faces. 


And no, I'm not advocating for taxing of the rich. I'm merely disagreeing with Mr. Armstrongs assertion. 

Wed, 01/22/2014 - 15:55 | 4356327 overexposed
overexposed's picture

How is "globalism" the source of unemployment for much of Africa, to pick one example off the map?

Wed, 01/22/2014 - 15:58 | 4356338 alangreedspank
alangreedspank's picture

It's obvious "globalism" exported African jobs to America.



Wed, 01/22/2014 - 16:00 | 4356348 scraping_by
scraping_by's picture

No. Globalism captured African resources for Chinese manufacturing.

And the natives are just swept out of the way.

Wed, 01/22/2014 - 16:03 | 4356360 scraping_by
scraping_by's picture

And, yes, depopulating native areas for European plantations. Aren't even enslaving the local citizens, just kicking them off their tribal lands.

No Yellow Menace here, just high-tech, high-cash vs. traditional.

Wed, 01/22/2014 - 16:06 | 4356381 overexposed
overexposed's picture

I think you'll find "Dead Aid" is a much better explanation of what's been happening to Africa.  Mindless donations given to "feel better about ourselves" destroyed much of the local industry in central Africa, which decimated the local population's income while propping up kleptocratic regimes.  (SA is a different type of international meddling, but same result.)

Though, to be fair, this international meddling in other nations' affairs could technically be called "globalism."  But by a totally different definition of the word than what you most likely meant.

Wed, 01/22/2014 - 16:13 | 4356409 scraping_by
scraping_by's picture

Foreign Aid or Development was never a gift like church missionary fund. It was always assumed to create markets for multinationals.

And the loans were always meant to be more than the nation could ever pay back. So the Core is a market structure first, a military empire second.

Increasing local poverty was a feature, not a bug.

Wed, 01/22/2014 - 16:19 | 4356431 overexposed
overexposed's picture

Dead Aid tells a slightly different story; Could be that the African author's point of view missed the "sooper secret" machinations of the Western globalist "elite."

Then again, her use of Western source material is fairly solid.  Still recommend reading it, you'd probably be surprised.

Wed, 01/22/2014 - 16:05 | 4356377 Sudden Debt
Sudden Debt's picture

if low taxes bother you, you should move to Belgium.... taxes screw your arms and legs off...

Wed, 01/22/2014 - 16:16 | 4356426 Leaf of Tree
Leaf of Tree's picture

Better Denmark.


High taxes. Low government debt. Hmm... How to the danes do it?


Strong civic spirit maybe? 

Unlike the  United Stateans (I refuse to use the word americans) who are more "everyone for himself" type of capitalists.

Wed, 01/22/2014 - 16:18 | 4356428 DoChenRollingBearing
DoChenRollingBearing's picture

Truthiness here.  I do not understand the two reds...

Best to you SD!

Wed, 01/22/2014 - 16:19 | 4356433 akak
akak's picture

... and clearly turns one into a scary, arm-waving monster.

Wed, 01/22/2014 - 16:24 | 4356457 FeralSerf
FeralSerf's picture

At least Belgium has decent chips, ice cream and chocolates.

Wed, 01/22/2014 - 18:17 | 4356869 Five8Charlie
Five8Charlie's picture

...trivial things compared to how good their beer is....

Wed, 01/22/2014 - 15:53 | 4356319 centerline
centerline's picture

There is so much more to this than just socialism and taxing the shit out of rich people.  But, the trend is irrefutable.

Wed, 01/22/2014 - 15:58 | 4356339 scraping_by
scraping_by's picture

Since the real trend is more and more wealth in fewer and fewer hands, sounds like it's not enough socialism.

85 humans hold the same wealth as 3.5B humans. I wonder if that would be connected to unemployment?

Wed, 01/22/2014 - 15:59 | 4356347 overexposed
overexposed's picture

When in human history has that trend EVER been different? We have ALWAYS had kings, and they have ALWAYS hoarded wealth disproportionate to their numbers.

Wed, 01/22/2014 - 16:16 | 4356420 centerline
centerline's picture

Exactly.  Wealth concentrates, shit happens, cycle starts over.  In most cases wealth moves, is lost to war, etc.  What makes this time any different?  Answer... only the magnitude of this cycle.

Wed, 01/22/2014 - 16:27 | 4356463 LawsofPhysics
LawsofPhysics's picture

"Answer... only the magnitude of this cycle." - The understatement of the century.  Exponential equations are indeed a bitch.

Wed, 01/22/2014 - 16:16 | 4356423 scraping_by
scraping_by's picture

The New Deal. Socialism Lite.

Real live middle class. Don't let the corporate think tank chatters tell you different.

Wed, 01/22/2014 - 16:22 | 4356444 overexposed
overexposed's picture

Those close to Government during the New Deal accumulated quite a bit of wealth for themselves, despite extending the Great Depression by another ten years.  If that was the point you were trying to make, then... Um, okay.  So "socialism lite" equals "enriching kingmakers and those in the king's court."  Which fits my described pattern of human history to the T.

Wed, 01/22/2014 - 16:25 | 4356462 NidStyles
NidStyles's picture

The New Deal never lasted, it was thrown out by the Supremes. What the US has now is a result of the growing power of the executive since FDR.

Wed, 01/22/2014 - 16:30 | 4356483 overexposed
overexposed's picture

The Executive assumed absolute power as early as 1860, as I recall.  It's all been sliding off the cliff since then.  ;)

Wed, 01/22/2014 - 16:10 | 4356391 tip e. canoe
tip e. canoe's picture


it's a shame Marty doesn't factor petrol more into his equations...or maybe he does, but isn't talking about it.

Wed, 01/22/2014 - 16:14 | 4356416 Bangin7GramRocks
Bangin7GramRocks's picture

Where, oh where do the rich people get "the shit taxed out of them"? I'd like to move there. There is a little conference going on where the rich are almost embarressed about how much they have accumulated. Taxes have never been lower for the rich. Stop repeating Koch brothers bullshit!

Wed, 01/22/2014 - 15:52 | 4356321 Grande Tetons
Grande Tetons's picture

Going galt will be the next global pandemic. 

Fuck it honey, lets sell our shit and downsize. 

Wed, 01/22/2014 - 15:56 | 4356330 centerline
centerline's picture

Actually I think you are right.  Enough pressure and folks will see the writing on the wall.  They will figure out that by downsizing and simplifying life they are happier.  Again, further deflationary pressures leading more QE, more wealth transfer, more unemployment.  etc.

Wed, 01/22/2014 - 16:26 | 4356460 SmallerGovNow2
SmallerGovNow2's picture

EXACTLY what me and the misses are doing...

EDIT... as well as getting as off grid as possible, solar, garden, water well...

Wed, 01/22/2014 - 15:53 | 4356324 LawsofPhysics
LawsofPhysics's picture

Socialism?  I don't think so, fascism, corporate cronyism, sure, but at this point I think most of us would be happy to see a mechanism for true price discovery.  Of course, that would require that no company is too big to fail.


Quick, send our man Hank "tanks in the streets" to the U.N. stat!

Wed, 01/22/2014 - 16:14 | 4356412 teolawki
teolawki's picture

The corrupt thrive in a risk-free system. Corporatism seems be be the front runner there.

Wed, 01/22/2014 - 16:36 | 4356472 LawsofPhysics
LawsofPhysics's picture

Probably should mix in a little nepotism as well.  Funny how the same families that controlled real resources and wealth 100 years ago, are the pretty much the same ones that control it today.

Wed, 01/22/2014 - 17:42 | 4356768 spinone
spinone's picture

There's gonna be tanks in the street alright, bailouts just have them more time to prepare.

Wed, 01/22/2014 - 18:19 | 4356870 WillyGroper
WillyGroper's picture

Nothing like witnessing "Serve & Protect" with a mother & child cowering on the floor while daddy is up against the wall.

How I would love to see those tables turned on the 535.

Wed, 01/22/2014 - 15:56 | 4356331 yogibear
yogibear's picture

"resulting in greater violence and protests all because governments refuse to even consider what their policies have been doing."

Bring it on!
Wake me up when there is the "millions march" at the capital occurs.

Wed, 01/22/2014 - 15:56 | 4356332 overexposed
overexposed's picture

Big Government = Failure, one hundred percent of the time.  As long as we forget this lesson (which our ancestors have learned AGAIN and AGAIN), we are doomed to repeat the history of decline.

Human nature being what it is, I'll keep my seatbelt on for the wild decline.

Wed, 01/22/2014 - 15:56 | 4356333 Seasmoke
Seasmoke's picture

The Beast is BIG, but so very SLUGGISH ...... very hard to defeat, but very easy to manuever around

Wed, 01/22/2014 - 16:03 | 4356365 Spungo
Spungo's picture

"Going galt will be the next global pandemic. Fuck it honey, lets sell our shit and downsize. "

Or simple retirement. A large percentage of people plan to sell their home if they need money after retirement. What do you think happens when millions of baby boomers are all trying to sell at the same time? Throw some rising interest rates on top of that and we have ourselves a liquidation sale. Start stockpiling your cash. You might be able to get a 5 bedroom house really cheap some time around 2020-2025.

Wed, 01/22/2014 - 16:05 | 4356376 Billy Sol Estes
Billy Sol Estes's picture

More global bullshit. I don't care about people being unemployed in ssa sdrawkcab Africa or Asia.

Wed, 01/22/2014 - 16:07 | 4356383 stock trout
stock trout's picture

Trish Regan is wearing red today. Life isn't so bad after all.

Wed, 01/22/2014 - 16:09 | 4356392 Peterus
Peterus's picture

Mystical rich industrial tycoons are not prerequisite for productive activity. Even if they were actuall shaved more than they first get exclusive opportunities (they've got a ton of net gains, so some net loses in taxes may not balance it out below zero), still their plight would concern only them. If others could compete - that economy would keep on chugging only proportionally slowed down. After all, you can have a rich man pay for entire factory, or a 100 poorer people pool up the same money to invest in it. Though if they can't get through red tape, or they don't have connections to navigate unions, or lack friends in regulatory agencies (not to get controlled every week just for a chance of a bribe), or... Now they're screwed.

Wed, 01/22/2014 - 16:09 | 4356393 Maroon Phoenix
Maroon Phoenix's picture

Why is Cuba so low?

Wed, 01/22/2014 - 16:47 | 4356567 FeralSerf
FeralSerf's picture

It used to be low in the USSR too.

"We pretend to work and they pretend to pay us."

Wed, 01/22/2014 - 16:11 | 4356396 DeliciousSteak
DeliciousSteak's picture

Globalism has its victims. Two steps are necessary. First, bring down living standards in the west to meet the rising developing nations. Second, kill a lot of people. The survivors will be happy to survive and start building something "new". A truly global economy cannot be born until most disparities are eliminated. It's coming, it's better to embrace it than fight it and be at the bottom(should you survive).

Wed, 01/22/2014 - 16:28 | 4356477 Leaf of Tree
Leaf of Tree's picture

I suspect you are right.

But it will not happen because that is the only natural way. It will happen because old masonic illuminati pedophile creeps from the West want to fullfill their crazy satanic beliefs about incarnating their god Satan on this Earth to be the ruler. The Messiah.

How many trillions has USA squandered on wars for the zionists and banks?

That money could have been used on research and development of thorium reactors that can provide a lot of cheap energy, not just for the US but the whole Planet.

Or better yet nuclear fusion reactors that can provide limitless energy.

Life could be different for all of the 7 billions earthlings. We could live in peace, and abundance. 

Wed, 01/22/2014 - 16:35 | 4356510 overexposed
overexposed's picture

Human misery is all the freemasons' fault?  That's probably news to Ghengis Khan -- Who would probably have been awarded a Nobel Peace Prize were he alive today...

Wed, 01/22/2014 - 18:32 | 4356912 Kickaha
Kickaha's picture

Some interesting thoughts expressed there, Mr. D. Steak.

If you believe in the laws of supply and demand, nobody needs to do anything to bring down living standards in the West.  They will fall of their own accord as capital naturally flows downhill towards the cheapest labor.  I would expect that if anybody does anything, it will be those people and those business entities who have benefitted most from regulatory protection in their home nations who will be foaming at the mouth while ranting about the evils of "globalism" and trying their best to turn back the clock to the golden days of yesteryear when they could pretty much charge whatever they pleased for their products and their labor.

Now if a people were highly industrious, intelligent, and supremely rational, they could see the inevitable coming disaster (nobody working and producing anything) and take steps to prevent a catastrophe.  Labor leaders could have crawled on their hands and knees into the CEO's offices and begged to have their contracts ripped up and new ones signed at one-third the cost to the employer.  White collar workers could have done the same.  Voters could have insisted that minimum wage laws be repealed so that the unskilled could remain employed.  Dogs and cats could be seen performing 69 on each other.

Because it aint' never going to happen, not in our lifetimes.  Having spent decades and billions bribing politicians to insulate them from all competition, domestic and foreign, all that anybody of means cared about was maintaining the status quo, and by doing so, they all accelerated the decline of the West and assured the development of the current financial crisis (which is only a denial of reality with phony money designed primarily, yessiree, to maintain the status quo).

 We have set up political systems designed not to referee the econominc struggle, but, instead to decide who wins and who loses, with laws passed accordingly, based upon the amount of the campaign contributions rather than a heartfelt desire to act only for the good of the nation as a whole.

The executive branch, instead of being the enforcer of laws, has instead become a painted whore, selling itself to the highest bidders.  Imagine how your local life would suck if the police only enforced the laws they were paid to enforce, and only arrested the citizens they were paid to arrest, and where they openly begged the rich to give them money and instructions as to how they would like to be repaid for their continuing largesse.  Well, that's the feds for you these days.  It's just harder to see when the lies are too big to get your brain around.

It's going to be so fucked up that I don't think anybody on high is going to have to kill anybody down low.  The poor (which will end up being damn near everybody) will simply start killing each other while Homeland Security sends squads with hollow points to protect glass high rises and gated residential communities.


Wed, 01/22/2014 - 16:12 | 4356400 yrbmegr
yrbmegr's picture

"This is the cost of socialism taxing the rich so there is no job creation with nearly half of that number amounting to youth under 25 years old."  No facts support this contention.  Many facts oppose it.  For example, the U.S. cut taxes job creation.  Taxes raised recently...some jobs being created (just not enough).

Wed, 01/22/2014 - 16:49 | 4356568 all-priced-in
all-priced-in's picture

The problem is bigger government just means greater inefficiency.

The government can't do anything effectively and efficiently - they fuck up everything they touch.

Government allocates resources based off of POLITICS.

How the fuck can anyone possibly think more taxes funding bigger government - that will allocate resources based on politics could be a solution to anything?


Wed, 01/22/2014 - 16:58 | 4356614 all-priced-in
all-priced-in's picture

BTW - the US cut tax RATES but ended up collecting MORE in taxes.

Go back to Clinton's last year in office - revenue $1.7 trillion - spent $1.6 trillion.

Now we collect $2.8 trillion and spend $3.4 trillion -

All these fucking tax cuts but we collect $1.1 trillion more -

Somehow we manage to scape by and are only spending $1.8 trillion more.  


Only the federal government could see reducing tax rates - then collecting more in taxes as a tax cut.

But then they also reduce the amount of increase in spending - so instead of spending 5% more they only spend 3% more - and they call this a spending cut.

Sure - these are the guys we want to have more power and control - they have been doing such a great job that they need more revenue.



Wed, 01/22/2014 - 16:12 | 4356401 Spungo
Spungo's picture

I doubt the unemployment figures for third world areas. Are people living off the land considered unemployed? 

Wed, 01/22/2014 - 16:22 | 4356441 Leaf of Tree
Leaf of Tree's picture

What's with the Illuminati one eye picture??

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