They’re Coming For Your Money——Billionaire Hillary Backer’s Plan To Funnel Trillions of New Wage Taxes To Wall Street Funds
While many Americans already know that much, most of you will be totally unaware of his aggressive plan to force a 3% payroll tax on the public which will be immediately funneled to Wall Street management firms, including “alternative managers” such as hedge funds and private equity…..The proposal would require workers and employers to put a percentage of payroll into individual retirement accounts “to be invested well in pooled plans run by professional investment managers,” as James put it. In other words, individual voluntary 401(k)s would be replaced by a single national system, and much of the mandated savings would flow to Wall Street, where companies like Blackstone could earn big fees off the assets.
We don’t expect the current situation to end well for investors who insist on taking larger investment exposures than they’re actually willing to hold, with discipline, through a period of severe market losses. From present valuation extremes, a 40-55% market loss would represent a fairly run-of-the-mill resolution to the current market cycle; a decline that would take valuations only to the high-end of the range they’ve visited or breached over the completion of every market cycle in history. By the completion of the current cycle, I expect over $10 trillion of what investors count as paper “wealth” in U.S. equities to disappear without a trace.
Consequently, there cannot be any separation between the real and financial market interest rates. There is only one interest rate, which is set by the interaction between individuals’ time preferences and the supply and demand for money…..Our examination of the framework of thinking that the Fed’s decision makers use reveals that policies pursued by the US central bank will only promote more instability rather than achieving a balanced economy.
I mention all this now because we are seeing something similar with the Democrats as they lead the charge into a dangerous New Cold War with Russia. The Democrats, who bore the brunt of the Red-baiting during the earlier Cold War, are now playing the roles of Senators Joe McCarthy and Richard Nixon in smearing anyone who won’t join in the Russia-bashing as “stooges,” “traitors” and “useful idiots.”
Every ruling Elite needs the consent of the governed: even autocracies, dictatorships and corporatocracies ultimately rule with the consent, however grudging, of the governed. The American ruling Elite has lost the consent of the governed. This reality is being masked by the mainstream media, mouthpiece of the ruling class, which is ceaselessly promoting two false narratives: 1. The “great divide” in American politics is between left and right, Democrat/Republican 2. The ruling Elite has delivered “prosperity” not just to the privileged few but to the unprivileged many they govern.
There are those who believe that the Chinese economy has stabilized, as if that was a good thing. Many of these people, mostly economists, said and declared much the same after 2012. That China’s economy might be in 2016 merely as bad as it was in 2015 is a highly negative development, one which requires standards for economic judgment to be still further reduced, starting with “stimulus.”
I have been studying, researching, and writing about alcohol and drug prohibition for over 30 years now. I realize that private prison corporations have also been donating money to these anti-marijuana political campaigns as a way to increase the flow of inmates into their prisons. Ventura takes the analysis one step further. He shows that federal prisons are renting out their prison populations to large American corporations for pennies on the dollar as cheap labor pools.
On Monday in Japan, Apple CEO Tim Cook vented his spleen once more against physical currency, telling the Nikkei that “we don’t think the consumer particularly likes cash.”……The reality is a whole lot darker. The war on cash is being waged for the exclusive benefit of those who already wield an inordinate amount of power and control over the economy and the people that are struggling in it. And they want more. By slowly, quietly killing cash, they seek to seize the last remaining thing that offers people a small semblance of privacy, anonymity, and personal freedom in their increasingly controlled and surveyed lives. And the way things are going, they’ll get it.
The Kremlin spokesman and several leading Russian commentators characterized Biden’s announcement as a virtual “American declaration of war on Russia” and as the first ever in history. Cohen observed that at this fraught stage in the new US-Russian Cold War, Biden’s statement, which clearly had been planned by the White House, could scarcely have been more dangerous or reckless—especially considering that there is no actual evidence or logic for the two allegations against Russia that seem to have prompted it.
Say what you want about Donald J. Trump, but he is correct about one thing: the Federal Reserve has, with near certainty, been holding interest rates down for political purposes — namely, to aid Hillary Clinton in getting elected president of the United States.