NEGATIVE interest rates encourage people to hoard cash. So Summers advocates a war on cash to prevent hoarding.

from Martin Armstrong

The major bonus to Hillary losing the elections is that Larry Summers will not be the chief economic adviser. Larry Summers is Hillary’s top choice for Fed Chairman or the Chief Economic Adviser in the White House. Treasury Secretary, was a position he held under Bill Clinton in the 90s, but that was going to go to Laurence Douglas “Larry” Fink  the chairman and chief executive officer of BlackRock who is the largest asset management firm in the world, controlling $4.6 trillion in investor funds. That’s about a trillion dollars more than the annual federal budget, and five times the assets of Goldman Sachs. Fink’s ties to Hillary are extensive. He even hired Cheryl Mills, Hillary’s notorious legal adviser, on the Board of Blackrock in 2013. Fink would then get to cash out of Blackrock TAX FREE, as did Robert Rubin and Hank Paulson of Goldman Sachs.

US GDP Annual Growth Rate 1947 - 2016

USA GDP 1960 - 2012

Larry Summers is the father of NEGATIVE interest rates. He is absolutely perhaps one of the most dangerous men on the chess board up there with Dick Cheney. A speech delivered by Larry Summers at the IMF Research Conference on Nov. 8, 2013 had caused a real stir and was being hailed as brilliant, succinct, and a ground-breaking presentation that explained what many said was the most pressing economic matter of our time.

With all the lies of Hillary and people like Summers saying how trickle-down economics failed, the highest economic growth came during the Reagan Administration. We are languishing below 2% and a 6 year moving average is even worse. But people like Summers think they can force GDP growth by punishing people with NEGATIVE interest rates if they do not spend money. Summers and Hillary believe in manipulating people to accomplish their goals. The problem is, neither understands anything about economic forecasting.

four-horsemanSummers may be one of the four horseman of the economic apocalypse laying waste to Western society and our economy. He believes in total control of society and he is the one who first floated the NEGATIVE interest rates. He is a linear thinker and a fool. He will never admit a mistake and since his NEGATIVE interest rates has not destroyed deflation but encouraged more with people hoarding cash, he is now advocating ending cash to prevent hoarding and then hopefully his idea of NEGATIVE interest rates might work.

Summers has admitted he cannot forecast the economy claiming it’s just like weather and too complex. Yet that does not stop him from trying to suppress the economy exactly as Karl Marx.

We should rejoice in Trump winning even if you do not like him. The team behind the curtain supporting Hillary would absolutely devastate our future in the blink of an eye. Just look how negative interest rates has devastated the European economy and has failed to reverse the deflation. Summers will NEVER concede defeat so he now advocates eliminating cash to prevent hoarding he sees as defeating his theory of negative interest rates. Of course, who published his latest article to end the $100 bill? The Democratic Marxist Propaganda rag – Washington Post.

 

“Foreign Affairs equates populism (i.e. Trump, Le Pen, et al.) with nascent fascism”

The Age of Disintegration: Political Disunity and Elites At War

November 21, 2016, by Charles Hugh Smith

In this war of the rising and fading elites, there is no common ground or incentive to compromise.

Historian Michael Grant identified profound political disunity in the ruling elite as a key cause of the dissolution of the Roman Empire. Grant described this dynamic in his excellent account The Fall of the Roman Empire.

The chapter titles of the book illuminate the complex causes of profound political disunity in the ruling elite:

The Gulfs Between the Classes: a.k.a. soaring income/wealth inequality: check.

The Credibility Gap: The Mainstream Media lauds itself and a self-serving, failing elite: check.

The Partnerships That Failed: the SillyCon Valley tech titans were supposed to “save” the neoliberal elite by managing social media the way the MSM managed broadcast propaganda/”news”: check.

The Groups That Opted Out: nobody “important” noticed those who opted out of the neoliberal Kool-Aid: check.

The Undermining of Effort: if I don’t get my way, I’ll block yours. There is no common ground left.

Is there any doubt about the profound political disunity in America’s ruling elite? I have addressed this many times over the past seven years, most recently a year ago in Profound Political Disunity Is Now Pitting Rising Elites Against Fading Elites (November 24, 2015).

Historian Peter Turchin explores the dynamic of social disintegration in his new book Ages of Discord. The cycle of social disintegration and integration is essentially universal to complex societies–a reality I recently discussed inUngovernable Nation, Ungovernable Economy (October 11, 2016)

USA 2017-2020: An Ungovernable Nation? (October 10, 2016)

The globalist, neoliberal, neoconservative consensus in the Ruling Elite has splintered, a reality I have described as a splintering of the Deep State, the unelected government that continues on regardless of which party or elected politico is currently in office.

I explored this years ago in Is the Deep State Fracturing into Disunity? (March 14, 2014) and more recently in Could the Deep State Be Sabotaging Hillary? (August 8, 2016), Why the Deep State Is Dumping Hillary (September 26, 2016) and These Blast Points on Hillary’s Campaign… Only The Deep State Is So Precise (October 31, 2016).

What few in the pundit class see is that significant segments of the Deep State view the neo-con neoliberal strategy as an irredeemable failure. But the camp of neoliberals and globalists will not concede defeat and relinquish their hubris-soaked power without a fight.

Indeed, it is clear that this fading sector of the Deep State is now throwing everything in its power at Trump, his appointees, and anyone who dares question the fake-progressive neoliberal neocon narrative.

The neoliberal Deep State’s mouthpiece Foreign Affairs is darkly equating populism (i.e. Trump, Le Pen, et al.) with nascent fascism, the favorite fearmongering slander (along with racism) of the fading, discredited neoliberals.

Slander and managed news–and the slandering of any dissenting narratives as “fake news”, the ultimate irony of a regime that depends on propaganda and collusion for its survival— these are the weapons of a cornered, enraged beast that has lost the narrative battle but which refuses to cede its power or pay-to-play wealth.

In this war of the rising and fading elites, there is no common ground or incentive to compromise. Either the rising Elite’s agenda and narrative are completely destroyed and the globalist neoliberals remain ascendant, or the rising Elite’s narratives and agenda survive the furious onslaught of paid protesters, fake news protesting fake news, and the brainwashed supporters of the Neofeudal, Neo-Colonial pillaging machine known as (in the perfection of doublespeak) “progressive neoliberalism.”

The sad truth is a system of pay-to-play global racketeering that has enriched the top .1% at the expense of the bottom 95% for decades cannot be “progressive” unless the word has been turned on its head. The hubris of the neoliberal “progressives” knows no bounds, and they still cannot quite believe the debt-serfs rebelled against the neoliberals’ benign impoverishment of everyone outside their protected cliques.

The fading elite will render the nation ungovernable rather than concede its power, wealth and global influence. This is the inevitable result of profound political disunity, which arises when The Ruling Elite Has Lost the Consent of the Governed (October 20, 2016).

I recently discussed ungovernability and the loss of the consent of the governed with Max Keiser and Stacy Herbert: (from 12:50)

“Yale University, that incubator of late-adolescent infants”

from Mark J. Perry’s Carpe Diem

…. is from George Will’s column this week “Higher education is awash with hysteria. That might have helped elect Trump.“:

Many undergraduates, their fawn-like eyes wide with astonishment, are wondering: Why didn’t the dean of students prevent the election from disrupting the serenity to which my school has taught me that I am entitled? Campuses create “safe spaces” where students can shelter from discombobulating thoughts and receive spiritual balm for the trauma of microaggressions. Yet the presidential election came without trigger warnings?

The morning after the election, normal people rose — some elated, some despondent — and went off to actual work. But at Yale University, that incubator of late-adolescent infants, a professor responded to “heartfelt notes” from students “in shock” by making that day’s exam optional.

Academia should consider how it contributed to, and reflects Americans’ judgments pertinent to, Donald Trump’s election. The compound of childishness and condescension radiating from campuses is a reminder to normal Americans of the decay of protected classes — in this case, tenured faculty and cosseted students.

…..

Institutions of supposedly higher education are awash with hysteria, authoritarianism, obscurantism, philistinism and charlatanry. Which must have something to do with the tone and substance of the presidential election, which took the nation’s temperature.

And if the remarks from George Will don’t illustrate for you the problems on college campuses, then check this Mark Dice video out:

“Senate ratifies [JFK’s limited nuclear arms] treaty all behind the backs of the CIA and the Pentagon [and] that made them absolutely furious.”

This is an excellent interview of Peter Janney on JFK’s legacy for world peace.  That’s no exaggeration.

I thought that the comments between the 9:19-11:39 segment were excellent.  Here they are:

McNamara and the defense establishment were caught with their pants down.  Talk about the most dangerous moment in all of human history.

We’ve just encountered people who don’t mind at all threatening nuclear war against Russia again.

U.S. and Pentagon pointed Jupiter missiles right on the Russian border in Turkey which led to the Soviet missiles in Cuba.  Kennedy to his credit pulled those missiles out of Turkey.  Had he lived it’s clear he would have won re-election.

He and Khrushchev were planning a number of initiatives to promote, working-together, collaboration, world peace.  I . . . I mean we forget that in November of ’63, shortly before Dallas, he was at the United Nations, giving a speech that said “Look, we are going to go to the moon but we are going to the moon WITH Russia, we’re gonna be partners in this endeavor.”  And so this I think had it taken place would have been a true symbol of the end of the cold war and that was just one of a number of things that JFK was up to.  Of course we have this legendary American university commencement address where JFK comes out of the closes so to speak and declares himself a man of peace or peacenik.  He challenges the American population and the entire world for people to examine themselves internally.  During that speech he also introduces the fact he’s going to undertake a limited nuclear arms treaty with Russia, the first of its kind and less than three months later the Senate ratifies the treaty all behind the backs of the CIA and the Pentagon.  They were not included in this endeavor.  And believe me, that made them absolutely furious.

And they decided to kill him.  To what extent was the Pentagon—and you put your finger on the CIA—what aspects of the Pentagon were on that as well?

Alexander Hamilton “was the inventor of the subversive idea of ‘implied powers’ of the Constitution and [used] the General Welfare Clause to create a government of unlimited powers”

Yeah, there’s an American we should venerate in theaters around the country and using theatrical opportunities of SJW shaming.

By Thomas DiLorenzo

The following is an excerpt from LewRockwell.com

Governor Pence “got what he deserved,” says Gary North, for paying $1700 for his wife and himself to attend the silly performance of “rappers” spouting nonsense and lies about Alexander Hamilton in front of a bunch of angry and ill-mannered New York leftists.  One hopes that the Trump administration will not waste tax dollars in such a foolish manner.

But Governor Pence’s bigger mistake was to somehow believe that Alexander Hamilton is someone that he should admire.  This is hugely ironic, since Hamilton was the founding father of corrupt crony capitalism funded by a crooked central bank, exclusively for the benefit of the one-percenters of his day.  He stood for everything that the Trump campaign stood against. Hamilton was the consummate statist and imperialist and political water boy for the big business interests of New York, Philadelphia, and Boston (the Federalists) who wanted to essentially establish the rotten, corrupt, imperialist, British mercantilist system in America. The very system the American Revolution had just deposed, in other words.  Hamilton was a traitor to the principles of the Revolution who spent the last fifteen years of his life attempting to transform the American government into a government for crony capitalists, by crony capitalists, of crony capitalists, all centrally planned by clever Machiavellian political manipulators like himself.

Alexander Hamilton was the founding father of constitutional subversion who denounced the Constitution as “a frail and worthless fabric” because it imposed so many limits on governmental powers.

He was the inventor of the subversive idea of “implied powers” of the Constitution and of using the General Welfare Clause to create a government of unlimited powers.  He was perhaps the first to spout The Big Lie that the states were never sovereign, the lie that was at the heart of Lincoln’s case for invading his own country in order to destroy the system of federalism and states’ rights that had been primarily the work of the Jeffersonian tradition of the founding generation. Hamilton and his political heirs (like Lincoln) worked mightily for some seventy-five years to destroy the Jeffersonian, states’ rights tradition of federalism and decentralized government once and for all.  Instead of self rule, they believed, Americans needed to be ruled by their wise “Yankee” betters.  Or else.

The Hamiltonians eventually succeeded at this when the War to Prevent Southern Independence destroyed federalism and consolidated all political power in Washington, D.C., after which corporate welfare, protectionism (another form of corporate welfare), a nationalized money supply, and military imperialism —  Hamilton’s Orwellian-named “American System” — was cemented into place.  It was really an American version of the British mercantilist/imperialist system.

For a complete takedown of the Founding Father of American cronyism, check out Tom DiLorenzo’s Hamilton’s Curse.

via RonPaulLibertyReport

Mexico accounts for 4% of auto plants and 8% of parts companies. Detroit lost jobs to other U.S. states, not to other countries.

And then there’s this:

Calling on Donald Trump to bring back manufacturing or other industry is a stunning economic miscalculation not to mention that it’s a comment that simply gets repeated uncritically by way of being caught up in electoral media coverage.  But the media never corrects itself.  It falsely admits that they made a mistake when, in fact, it was no mistake at all but only a strategic lie.  Sad thing is that a large number of Americans gathered at his events, thinking he can save the economy or their jobs or whatnot.  But we’re in no recession, not yet anyway.  Job market is remarkably strong.  Plenty of jobs available.