A Commentary From One Baby Boomer To Another by Mitch Santell
There is an old saying that I have pontificated for years and that saying is, “That you don’t wake up to the truth until it hits you in the face and affects you personally.”
Baby Boomers have finally awoken to the nightmare that President Trump is not going to look after their retirement accounts or best interests at the end of their life.
The problem: Trump’s entire premise that the tax cuts are trickling down to families and sparking an economic boom is baseless. His tax cuts have not trickled down to workers, they’ve inflated deficits, and by doing so they have put programs like Social Security and Medicare more at risk. Another Trump tax cut would threaten these programs even more.
In his speeches and other remarks at the gathering, Trump boasted about economic growth, that wealth is no longer concentrated at the top andthat revenues increasedmore than expected. These wonderful things presumably all happened because of his signature policy, the 2017 tax cuts. If these things were indeed true, doing another round of trickle-down tax cuts would be a no-brainer. Alas, Trump is selling a bill of goodsthat is not supported by the data.
Where did the money go then? Companies instead used most of their profits to keep shareholders happy. On average, non-financial corporations have used almost all of their profits to pay out dividends and buy back their own shares, which reduces the number of shares and boosts stock prices. In the two years before the tax cuts went into effect, corporations spend 90.3% of all of their profits before taxes on dividend payouts and share repurchases. Since the tax cuts went into effect, such spending remained high and amounted to 91.2% in the third quarter of 2019 alone. Shareholders, not workers and the economy, are the real beneficiaries from corporate largess.
But the tax cuts cannot deliver on the promises of faster growth and higher wages if companies don’t invest. In fact, economic growth got only a very temporary boost in the first half of 2018 and has slowed since then (see figure below). Productivity growth continues to underwhelm by historical standards. And wage growth has slowed over the past year, even as employment levels have gone up.
President Trump will tell you that he has “created the best economy in 50 years” and he will point to the stock market which is trading at over 29,000+ points and say: “Look at all the bank you are making in the market!”
What President Trump won’t tell you is that there is a massive crisis at the Federal Reserve. Unlike the 700 Billion Dollar TAARP fund that supposedly saved America from financial ruin in2008, the New York Federal Reserve has to print 75 Billion Dollars every 24 hours five days a week to keep the market afloat. Why is this happening? It all comes down to banks not having enough cash on hand.
A Commentary and Analysis by Mitch Santell On What Happened To The Truth Movement by Mitch Santell
Looking like a fool to your family, friends, and business associates, is not a fun thing, is it?
A special thank you to Ricky Ray, who sent me this article, and now, as all those who have been involved in uncovering the truth, I have to give You my two cents worth.
The Truth Movement in my book was a colossal failure.
There were those among us who were willing to risk everything to share with others what we uncovered.
The truth is that we all come to the truth in our own way.
As Morpheus said in The Matrix, “There is knowing the path, and there is walking the path.”
The Truth Movement is now evolving into the “Authentic Life Movement.”
You might ask yourself, “What is that?”
The Answer:Whoever you used to be is gone. You can put that person right back in the closet. You are going to have to merge who you are in your private life with who you are in your public life, and if anyone doesn’t get YOU, you are going to have to love them enough to let them go.
You see, for those of us who made a choice to stand up, we were compromised from day one.
The cards and the chips were stacked against us because we did not realize how much was being manipulated from behind the scenes and how much we didn’t know.
Amy de Miceli, the Co-founder of No One Has To Die Tomorrow, expressed it brilliantly in a recent article that she wrote that was titled: “The Curse Of The Truth Movement.”
Here is a brief part of her observations:
By Amy de Miceli January 18th, 2020 For as long as I could remember, the news captivated me; it frightened me just enough to not be able to stop watching. I never liked horror movies, but a nice 48 Hours, or Unsolved Mysteries, those were what my nightmares were weaved with. On Halloween, other kids would be out Trick or Treating, and I was at home watching the news. It was the real-life stuff that I would torture myself with. It was so bad for me, way worse than the ten pounds of candy I would have acquired.
Now I can finally see why it was so intriguing, I understand the insanity that we are all being put through, the constant wave of emotions we are taking part in.
For many years I have been a writer and researcher in this movement of “awake, truth-seeking, activists…” and only recently have I figured out that the truth movement is Cursed! Hexed!A trap, just a gear designed to turn the wheel of fate for the powers that will it to be. This is The Curse of the Truth Movement.
Telling Lies For Your Vision
As a child, the TV was always on in my house, at dinner it was off for about 20 minutes, maybe it was on, and the volume was off, but overall it was a constant state of television.
Good Morning America greeted me as I stumbled into the kitchen, catching all kinds of wild five-minute news briefs before I was fully conscious, still in that sleepy state when you roll out of bed, the state akin to hypnosis.
Once a day would not be enough! I would repeat that again in the moments before falling asleep at night, that same hypnotic lulled state, as I listened to the 11 o’clock news from my bed. OH, how my child mind would race, listening to the murder – death – kill stories, then weather, then sports, the movie Anchorman captures the mind numbingness of it all pretty well.
The Ugly Curse
Just look at how awful how this movement treats each other, so many yelling about welfare recipients and food stamp hogs but no answers for the calls for help. I saw almost no one helping families torn apart by CPS for homeschooling their kids or refusing vaccines. No love for the single moms being thrown out of their homes. No love for people who stood up and stood their ground against the IRS and have been thrown in jail and tortured, and gifted what would equate to death sentences.
These are not just any people I reminisce about these were prominent radio hosts and other people who were touted as hero’s in your truth movement, left as scraps for your NWO to feed off of. Being in this movement can most definitely be a curse, and we have allowed it to work, in fact, we have made it work!
So many entranced by the fear have turned into greedy, suspicious hoarders, some people are so greedy and insecure that they can’t even be motivated hit a like button on a social media post! Afraid to admit that maybe you don’t know everything, or that someone else might know more. Worst of all, the posts that go viral in the truth community are usually the ones that evoke a ton of emotion, or those posts making fun of someone, because that is the fuel that feeds the real system, the true matrix, a disdain for your fellow man. The power it needs is in your feelings, and your Illuminati curse does not care where it feeds off of as long as it is fed.
A Commentary on facing your normalcy bias by Mitch Santell
The challenges we face are many as more and more of these weaponized towers are installed by the thousands all over the USA. The average person in America doesn’t have time to worry about this because 50% of Americans have to live on 18,000 dollars a year or less. There is a great divide between those who have everything and those who have nothing.
Video is 7 minutes and 44 seconds and worth your time to watch. This is crazy!
Here are some comments that I read today about 5G, how demonic it is and what happens to you.
Dear Gary and Readers of The Big Wobble,
While driving back to my cabin Tuesday the 29th of October I spied, much to my surprise while turning off the highway onto the side road that leads to my cabin, the piercing flash of a strobe light atop a new cell tower. Where did that tower come from? I made a call and was informed it had gone up the day before. I was not pleased, as it was just one more of many now in my part of Alaska. My guess is that it is to ready us for that “demon” 5-G cell service. And to make matters worse, it is much too close to my cabin to not bathe me in the bad biological effects of non-ionizing radiation, as my GPS location check confirmed.
With this type of energetic air pollution, there are many causes for concern. For instance, it is known that both single and double-strand DNA will break down due to these cell phone frequencies. While single strand at times can heal, it is thought that double-strand DNA breaks will not repair and can lead to genetic mutations.
Other problems such as poor memory and concentration, delayed reaction times, headaches, lower levels of both melatonin and serotonin, anxiety, chronic pain or pressure in the chest, shortness of breath, nausea, dizziness, blood pressure problems, sleep disorders, chronic fatigue, and tinnitus are very common. Would this explain why all this month I have been battling nausea, dizziness, concentration problems, tinnitus, and oh yes – a migraine?
Not bad enough, let’s throw in the likes of Multiple Sclerosis, Alzheimer’s, birth defects, red blood cells sticking together or deforming in what is called bottle capping, ADD/ADHD in children, reproductive problems, skin disorders, Parkinson’s Disease, and Autism.
Let’s just list a few of the cancers that come from this Electropollution, which is odourless, colourless, and invisible. Well, we have breast cancer EVEN IN MEN, brain, Leukemia, thyroid, uterine, larynx, colon, pancreas, Leiomyosarcoma, Multiple Myeloma, Polycythemia Vera, Burkitt’s Lymphoma, prostate, and there are even more cancers I could list that are tied to this killer!
Oh yes, if you have medical implants like cardiac pacemakers/defibrillators, infusion pumps for diabetics, neurostimulators, hearing aids, spinal stimulators, or an artificial heart they are often scrambled by cell towers or the cell phone. No wonder the W.H.O., “World Health Organization”, has stated that R.F., “Radio Frequency”, is a potential human carcinogen. I have not listed all the known health problems tied to cell towers, there are many more!
Now I realize that most are not as I am, that of being 2%-6% of the world’s population, who battle Electro-Hypersensitivity as a functional impairment. But even though the majority are not like us proverbial canaries in a coal mine, all can be affected by one or more of the above-listed health issues! And as far as I can tell a cell antenna is not a necessity for life like clean water, air and food.
If you live near a cell tower you need to realize that it is producing a constant radio frequency around the clock. It will boost higher when somebody is calling for that system to function. So when somebody makes a cell phone call they increase the Electrosmog for all living near the tower. Thus you get higher spikes. And please remember that even if nobody is using it, the cell tower is still pulsing out death!
Since the FCC is not going to force the cell industries to re-think and re-work their technology because the health problems of the non-thermal effect standards would hurt their pocket, what can one do?
One needs to create a field-reduced home. How to do that?
Sleep under an electromagnetic wave-reflecting tent known as a faraday canopy.
Repaint the interior and exterior of your home with EMF shielding and conductive paints. I looked into buying five gallons of shielding paint and was informed that if it was frozen in transit to Alaska it would be of no use, yep – it’s winter here, Ya! Products made with silver, nickel, carbon, and copper can be mixed in with regular paints and then after they are applied to be recovered with something more aesthetic such as wallpaper, regular paint, or wood.
Shielding garments, gloves, and hats can be purchased or made, as shielding fabrics are available.
Shielding blankets and sheets are a massive help.
Window films can be applied to help block cell signal and there are RF curtain shields.
While you’re at it you can buy shielding for your cell phone, smart meter, computer and TV screen, router guards, signal tamers for routers, and radiafence, which creates a radiation shadow where you need one.
Keep the metals on your body at a minimum. Jewelry, hair barrettes, metal-framed glasses, belt buckles (especially large, heavy ones), pocket and hunting knives, watches, underwire bras with actual metal in them, clothing with metal buttons and zippers, metal in any type of furniture. Do not use your cell phone for an alarm. It should not be in the same room where you sleep. Keep your wi-fi shut off at nighthttps://emfacademy.com/turn-off-wifi-at-night/ For additional safeguards, visit https://www.lessemf.com
An unsuspecting danger is tattoos. Many tattoo inks contain heavy metals that have been linked to a large number of health problems, including cancer and neurodegenerative diseases.
Or you can do as I am and just move. You see it is not just about me but my Siberian dog team, they’re my family! This same killer devastates animals as it also destroys insects and plants.
I would suggest you watch the movie Full Signal, The Hidden Cost of Cell Phones by Talal Jabari and the film Take Back Your Power, Investigating the “Smart Grid” by Josh Del Sol. At times like this Aldous Huxley’s words ring loud: “Facts don’t cease to exist just because they are ignored.”
That’s it from Alaska for now (dictated to Mom because my photosensitive epilepsy prevents me from looking at a computer screen). Thanks for your help, Mom!
A Commentary On The Collapse That Is Here Now by Mitch Santell
Hi, how are you? Me? I am phenomenal because I don’t own the city hall, I just work here.
You may or may not follow this blog, and guess what? We are in the most massive global collapse since the Great Depression.
If you don’t believe me, you need to know about something called Quantitative Easing.
Barrack Obama introduced Quantitative Easing. President Obama did not invent Quantitative Easing; he brought it into our economic structure based on the Banking Collapse of 2008.
Quantitative Easing is where the Federal Reserve (our central bank, which is neither Federal nor a Reserve creates money out of debt to keep our markets liquid).
Now that I realize that over two-thirds of high school students in America are illiterate, I realize that you are going to have to take care of yourself and your family first. There is no reason to argue with anyone anymore.
Now the time has come to enjoy the bigger picture. Not only was 75 Billion Dollars+ pumped into the market daily over the past few months, over the next two-plus weeks, the Federal Reserve is also going to pump 500 Billion into the Banking System.
How long do you think this can continue?
In previewing today’s Fed statement regarding repurchase operations, on Tuesday Curvature Securities repo expert Scott Skyrm said that he expects the Fed to announce a $50 billion (at least) term operation for Monday December 23 (double the current term ops) and a $50 billion (at least) term operation for Monday, December 30. This prediction was in response to Zoltan Pozsar’s warning that reserve levels are too low and the result would be a market crash that could spark QE4.
Well, moments ago the NY Fed did publish it latest weekly “Statement Regarding Repurchase Operations” as expected laying out the Fed’s expected repo operations for the period December 13 – January 14… and it blew Skyrm’s expectations out of the water
According to the statement, the NY Fed will continue to offer two-week term repo operations twice per week, four of which span year end. In addition, the Desk will also offer another longer-maturity term repo operation that spans year end. The amount offered in this operation will be at least $50 billion, just as Skyrm expected.
The first thing that you need to do in order to get on the road to freedom is to get completely out of debt. The main fodder off of which the matrix feeds worldwide and at every level – personal, governmental and business – is debt. If they can keep us collectively chained to their phony fiat currency scheme, they can keep us quiet and subservient to their will.
The first debt to get rid of is ALL credit card debt. The interest rates that the Visa/Master Card Cartel charges are exorbitant. And they are owned largely by two of the biggest Illuminati-controlled banks on earth – JP Morgan Chase and Citigroup. Our destiny on this earth is certainly not to feed vampires.
Once you pay off all your credit card debt, don’t ever go there again. Cancel and cut up all credit cards but one, as sometimes one is needed to rent a car or some other thing. I keep an airline-miles-earning Visa due to its international accessibility.
Never use even this one card except for things like car rental which, unfortunately still usually requires a credit card. On the infrequent occasion that you do use it, make sure to pay the balance off by the deadline that month to avoid usurious interest charges.
No wage slave dare openly speak ill of his/her boss or of the system in general, lest they risk being fired. Without a job how can they then make their house payment, car payment and so on? Because of their debt load, many Americans – even the well-paid ones – are just one paycheck away from living on the streets.
While paying off credit card debt may seem a daunting task to those of you who are buried in the stuff, it is essential to escaping the matrix. If you are able to nothing else in this book, get out of credit card debt.
There’s a saying I heard once that made a whole lot of sense to me. “Live like no one lives now and you’ll live like no one lives later”.
The implication is to live not only within your means, but below your means. Once you begin to do this you can not only easily erase your credit card debt, you can start to save money.
Start a bank account with a small community bank if you don’t have one already. These are not evil institutions and should never be seen in the same light as the Illuminati mafia.
In fact these small banks are an integral part of any town since they finance businesses, housing, etc. One thing you will learn while exiting the matrix is how important it is to lose your dogma on a range of issues and make moral decisions based on reality rather than somebody else’s accepted theory of the day.
There are different kinds of bankers, different kinds of politicians, different kinds of business people, loggers, hunters, lawyers, etc. Some own the matrix, some sell out to it, and some work against it. That is reality. Trade in your dogma for some karma.
Starting a bank account protects you from acting impulsively in accordance with the nonstop matrix shopping program. It’s much easier to spend money you are carrying on your person or have sitting in a drawer at home. Keeping your money in a bank makes it harder for you to spend it and watching it grow will encourage you to continue working towards your freedom.
Significantly, when you’ve paid off your debt and you start a savings or checking account, you cease to be a debtor to the bankers and begin to be their creditor. That savings account you started is a loan to the bank which they then lend out at a higher interest rate. As such, the banker is required to pay you interest on that loan which, while currently miniscule and pathetic, fluctuates according to the prime rate set by the Federal Reserve cartel.
Go to a system of paying cash for everything. If you write lots of checks or use a debit card too much, it’s easy to lose track of your account balance.
I had significant debt only twice in my life. Once I took out around $5,000 in student loans to get my Bachelor’s Degree. The second time we had a $10,000 mortgage on the first property we owned.
Both times these debts were paid off within a year. The key was most definitely living below my means. The other key was working all the overtime I could get at the various jobs I had.
My father died when I was 12 years old in a car accident. We operated a farm at the time. I loved playing baseball in the summer and was a pretty good catcher and lead-off hitter, but with Dad gone money got tight, we had to sell the farm place and my Mom lined me up with my first job for a local farmer. The pay was $2.25/hour.
I learned to operate all types of farm equipment and soon found a job for $3.00/hour, then one for $4.00/hour. As farmers in the area began hearing stories of what a hard worker I was and how competent I was at operating machinery, they competed to have me work for them in the summers. At the end of my “farming phase” I was making $6.00/hour and working 60-70 hours a week. I missed playing baseball, but racked up around $4,000 in savings.
In those days interest rates were high and Mom wisely got me invested in a certificate of deposit (CD) that paid 13% interest. So when I went off to college, I had a little cushion and didn’t have to take out as many student loans as some kids.
Even so, I worked my way through college at various pizza joints (lots of free food), libraries and work study jobs. My senior year of college I worked three different jobs at once. And when I graduated I had a job lined up as a fly fishing guide on the Alaskan Peninsula that paid very well. Room and board was included and since we were in the middle of nowhere, there was nothing to spend my paychecks on.
Due to all that hard work, my student loans were paid off and I was able to save enough money for a two-month overland backpacking trip to Mexico, Belize and Guatemala. I was completely out of debt and seeing the world at age 22.
The first leg of that journey south was driven from Omaha to McAllen, TX on the Mexican border in an auto drive-away car. These companies still exist and this is an excellent way to travel for free.
Usually someone has driven their car somewhere and due to some unexpected contingency they have to fly home. Your role is to get their car back to them. Gas and insurance are paid, so the ride is free. Google “auto drive-away” and find out if you have one near you.
The second time I was in debt was when we bought our first property – 10 acres and a beat up mobile home. By that time I was 27 years old, had my Master’s Degree, had traveled solo around the world and was married to my beautiful wife, Jill.
In my travels, the lessons in simple living that my parents and grandparents had instilled in me on the farm sunk in even deeper.
We send out the Peace Corps to condescendingly “teach” the developing world how to live, while Illuminati corporations and banks plunder their resources. Ironically, I have learned so much about how to live from the global poor.
But you can see the same thing here in the US, if you look.
Mexicans come here to work the hard jobs that Americans won’t. They cram as many workers as they can into beat up mobile homes to save on rent. Nearly every dime they earn is then sent back to their families in Mexico who are socking that money away into savings accounts so that these hard-working wanderers can eventually go home and retire to a nice country home.
Don’t let appearances fool you. The Mexicans keeping those Des Moines meat packing plants humming are far more wealthy that most Americans. They are creditors.
When I got my MS in 1991, I was totally broke. So I lined up another good paying job, this time in Japan teaching English. They flew me over in Business Class, where I filled my luggage with as many free tiny bottles of Jack Daniels as I could coax out of the stewardess. They also gave us a free house to live in and car. In only five months our bank account went from $0 to $15,000. It was our first grubstake.
From Kobe, we hopped a ferry to Shanghai, China and spent three months visiting China, Macao, Hong Kong, Thailand, Malaysia, the Philippines and Hawaii. We were creditors again and seeing the world.
We spent $4,000 traveling and buying a car at an LA auction when we returned, so we rolled into the Ozarks in the fall of 1992 with a 1965 Plymouth Reliant packed to the gills. Our two dogs – Buck and Milo – had to sit atop our stuff in the back seat.
After a night sleeping in that packed car, we saw an ad for 10 acres and a mobile home for $29,900. We had a look, offered them $20,000 and moved in that night.
We put $10,000 down and signed a five-year contact for deed. When the dust had settled and the propane tank was filled, we had only a couple hundred dollars left to our name.
The only answer was to hit the ground running. I worked a variety of temporary agency jobs assembling BB guns, packing baby wipes and whatever, while Jill landed a job at a radio station. We had to borrow $4,000 from her parents to buy Jill a reliable pickup to drive to work.
Within two months I landed a job as a drill crew roustabout on a dam repair project. At $7.00/hour it was the best paying job in the depressed Ozarks. I worked 70 hours a week, taking all the overtime I could get.
During this time, I “borrowed” a copy of Abbie Hoffman’s Steal This Book from a public library which wishes to remain anonymous. For those of you who have read it, hopefully you will not wonder why I thought about calling this book, Steal This Book… Again. I learned many things from that excellent book.
Within days of finishing it, a hillbilly named John who worked at the dam, smoked massive quantities of weed and had a beard down to his knees, “borrowed” it from me. I never saw it again.
Meanwhile we were eating copious amounts of macaroni and cheese and fried bologna, dumpster-diving furniture and growing a massive garden.
One day I went in to pay the monthly house note of $250. I asked the realtor to confirm what we still owed and was shocked to learn of the word “amortization”.
For those as naïve as I was, this nasty word means that when you start to pay down a house loan, you pay far more interest than principal. As such, we owed the realtor far more than we thought we did.
Armed with this new and depressing knowledge, we hatched a plan. Jill had already quit her job at the radio station. She could no longer take the lies required to sell advertising, nor the depths that her coworkers would sink to “sell air”.
We sold the pickup we had bought for her. Because we had done our research and purchased it from a private individual, we had bought the pickup for the below-book price of $4,000. We sold it for the book value price of $4,600.
We paid back her folks, then took every dime of the rest of our savings and made a lump-sum payment of $7,000 towards the property. That done, the remaining house payments would go mostly towards principle.
Within eleven months of moving in, we paid the place off. When I went in to make the final $250 payment, the realtor was so floored at our determination that he refused to take that last check. Instead, he gave us the deed and we owned our place free and clear.
We had joked all along that they never would have sold that place to us for that price, but for the fact that they figured they’d be repossessing it a few months after we could no longer make the payments. We must have been quite the site when we rolled into their office in that packed-to-the-gills 65’ Plymouth.
We were out of debt and worn out from the grind, so we decided to rent the place out for $275/month, bought a 1978 Chevy van for $500, built a bed in it out of scrap lumber and hit the road.
A little over a year later we sold that place for $26,000. We hadn’t made much of a profit, but had lived rent free for a year and made some rental income the next year, which we spent living rent-free in that Chevy van.
More importantly, since we had the place paid off, we were able to put every penny of that $26,000 into a savings account. At age 28, we had just taken a quantum leap on the road to freedom. It changed everything.
To summarize, there are two simple keys to getting out of debt. First, work long hours and keep looking for the best paying job around even as you work a less desirable job.
Don’t settle into some low-paying job because it’s easy. Laziness is the surest way to a life of slavery. This is why the matrix is constantly sending us signals that laziness is somehow a virtue. The mantra goes that you should attempt to get by with as little effort as possible, that you are getting one over on the system by being lazy.
Like all matrix propaganda, nothing could be further from the truth. Be industrious and work hard for your freedom.
Second, you must scrimp and scrape and live below your means. Turn down the heat in winter and use blankets, open the windows in the summer, don’t buy anything you don’t absolutely need and sell things you have that you don’t need. Be proactive. It’s your life.
And remember, if you live like no one lives now, you will live like no one lives later.
A Commentary About Corruption And Misinformation by Mitch Santell
The country is divided because it was planned this way. Most significant events that happen are all planned, and the “illusion” that it just “happened by accident” is fantasy.
Do you remember the term “Quantitative Easing?”
This was started during the Obama Administration.
Here is what was written:
The federal government has run massive deficits since President Obama became president in 2009, but the deficits, and the government’s interest payments on the cumulative federal debt, would have been even greater if the Federal Reserve had not intervened with a massive and unprecedented bond and securities buying program.
Beginning in 2009, the Fed began its multi-stage program of quantitative easing through large-scale purchases of Treasury and other securities. In the aftermath of the financial crash, the agency had quickly lowered the targeted federal funds rate to between zero and 0.25 percent. In early 2009, the bank’s leaders, especially Ben Bernanke, sought to provide further monetary stimulus to the national economy and settled on large-scale asset purchases as the most viable way to expand the monetary base with interest rates already at the lower bound.
As of September 2008, the Fed held $477 billion in federally-issued debt, out of a cumulative total of $5.8 trillion. Thus, the Fed owned about 8 percent of all federal debt before the quantitative easing program began. In fiscal year 2009, the Fed then made net purchases of Treasury securities totaling $292 billion, followed by nearly $900 billion over the two-year period of 2010 and 2011 and $800 billion over the three-year period from 2012 through 2014. The Fed now owns $2.5 trillionin Treasury securities, or about 18 percent of all outstanding federal debt, which is well outside the historical norm.
The purpose of quantitative easing was to stimulate asset valuation by lowering long-term borrowing costs and thus also to encourage business expansion and consumption by households. It was also intended to make it easier for the federal government to run larger deficits and thus to provide fiscal stimulus to the national economy. This month, the average interest rate on a newly-issued 30-year mortgage is 3.43 percent, near the lowest level ever recorded. Fixed-rate 30-year mortgage rates have been below 5 percent continuously since January 2011.
Other central banks around the world have followed similar policies. The result has been a long-period of extremely low borrowing costs for governments. Amazingly, in 2016, the Congressional Budget Office (CBO) expects net interest payments on nearly $14 trillion in outstanding federal debt to total just $253 billion — the same level of interest payments that were made by the federal government in 2008 on $5.8 trillion in debt.
Answer: Instead of the Federal Reserve Pumping 75 Billion Dollars a month into the economy, they are now pumping in 75 Billion Dollars a day, five days a week until November 4, 2019.
Don’t Believe me?
Here you go:
(Reuters) – The New York Federal Reserve will continue to boost liquidity in money markets into November, the bank announced on Friday.
The bank will offer daily repurchase agreement, or repo, operations, offering at least $75 billion a day in daily cash injections through Nov. 4. The Fed also announced term repos for firms wanting to borrow cash for longer, with most offerings lasting two weeks. This extends a policy that was initially supposed to end next week.
The continuation of the daily repo operations ensures that financial firms will be able to turn to the central bank to borrow cash until at least the next Fed meeting, when policymakers are expected to discuss a more permanent solution.
The New York Fed began holding daily repo operations on Sept. 17, after a key borrowing rate in overnight lending markets for cash spiked to 10%. The central bank succeeded in calming markets through the operations, but some investors and former Fed officials have been calling on the central bank to deliver a long-term fix.
Some investors say the Fed should permanently increase liquidity in the banking system by expanding the size of the balance sheet or introducing a standing repo facility, which would allow firms to borrow cash as needed at a fixed rate.
The pre-emptive action from the New York Fed could help minimize market volatility in the near term because firms now know they can turn to the central bank if they need liquidity, said Blake Gwinn, head of front-end rates strategy for NatWest Markets. “It’s a full fledged lean into providing repo liquidity through these temporary operations,” he said.
This was just reported this morning (October 16, 2019):
“Something Snaps: Repo Locking Up Again As Overnight Fed Operation Oversubscribed, Repo Rate Jumps”
Now Read this:
First it was supposed to be just a mid-month tax payment issue coupled with an accelerated cash rebuild by the US Treasury. Then, it was supposed to bejust quarter-end pressure. Then, once the Fed rolled out QE4 while keeping both its overnight and term repo operations, the mid-September repo rate fireworks which sent the overnight G/C repo rate as high as 10% was supposed to go away for good as Powell admitted the level of reserves was too low and the Fed launched a $60BN/month Bill POMO to boost the Fed’s balance sheet.
Bottom line: the ongoing repo market pressure – which indicated that one or more banks were severely liquidity constrained – was supposed to be a non-event.
Alas, as of this morning when the Fed’s latest repo operation was once again oversubscribed, it appears that the repo turmoil is not only not going away, but is in fact (to paraphrase Joe Biden) getting worse, because even with both term and overnight repos in play and with the market now expecting the Fed to start injecting copious liquidity tomorrow with the first Bill POMO, banks are still cash starved.
The Godfather of modern public relations is the “double nephew” of Sigmund Freud. Who is he? His name is Edward Bernays. Mr. Bernays discovered how to manipulate and control people by placing his observations in a book entitled “Progaphanda” which was published in 1928.
If you want to understand why a social media company like FaceBook has so much control over how you behave and think, check out this book!
A Guest Commentary by Hyram F. Suddfluffel, Ph.D., (Political Science)
I have a degree in Political Science, and I am a card-carrying Libertarian. I’ve been studying politics and political history for the past 30 years. My specialty is U.S. Presidents.
That said, I hope that the House of Representatives impeach Trump. Let me tell you what will happen next!
1. The House can pass articles of impeachment over the objections of the Republicans, and refer to the Senate for trial.
2. The Senate will conduct a trial. There will be a vote, and the Republicans will vote unanimously, along with a small number of Democrats, to not convict the President. Legally, it will all be over at that point.
3. However, during the trial, and this is what no one is thinking about right now, the President’s attorneys will have the right to subpoena and question ANYONE THEY WANT.
That is different than the special counsel investigation, which was very one-sided. So, during the impeachment trial, we will be hearing testimony from James Comey, Peter Strzok, Lisa Page, Bruce Ohr, Glenn Simpson, Donna Brazile, Eric Holder, Loretta Lynch, Christopher Steele, Hillary Clinton, John Brennan, James Clapper, and a whole host of other participants in this whole sordid affair and the ensuing cover-up activities.
A lot of dirt will be dug up; a lot of truth will be unveiled. Finger-pointing will occur. Deals will start being made, and suddenly, a lot of Democrats will start being charged and going to prison.
All this, because, remember, the President’s team will now, for the first time, have the RIGHT to question all of these people under oath – and they will turn on each other. That is already starting.
4. Lastly, one more thing will happen, the Senate will not convict the President. Nothing will happen to Trump. Most Americans are clueless about political processes, the law, and the Constitution. Most Americans believe that being impeached results in removal from office. They don’t understand that phase 2 is a trial in and by the Senate, where he has zero chance of conviction.
Remember, the Senate is controlled by Republicans; they will determine what testimony is allowed — and **everything** will be allowed, including DNC collusion with the Clinton campaign to fix the election in favor of Hillary, the creation of the Trump dossier, the cover-up, and destruction of emails that very likely included incriminating information.
They will incriminate each other for lying to the FISA court, for spying and wiretapping the Trump campaign, and for colluding with foreign political actors, especially George Soros. After the Senate declines to convict the President, we will have an election, and Trump will win. It will be a backlash against democrat petulance, temper tantrums, hypocrisy, and dishonesty. Even minorities will vote for Trump, because, for the first time, they will see that democrats have spent 2+ years focused on maintaining their own power, and not doing anything at all about black murders in Chicago, homelessness, opioids, and other vital issues that are actually killing people. And, we will spend the following four years listening to politicians and pundits claim that the whole impeachment was rigged.
So let’s move on to impeachment. Hyram F. Suddfluffel, PhD