“In the last century, we had two world wars, And in between them, the Great Depression. I don’t think anybody should really try to have a repetition of history.”
— Read on www.zerohedge.com/news/2018-11-27/china-ambassador-warns-dire-consequences-if-no-deal-hints-all-out-war
China playing hardball
Well, this is awkward…
— Read on www.zerohedge.com/news/2018-11-26/why-was-nancy-pelosi-buying-fking-dip-amzn-aapl-fb-shares
Insider trading and corruption by politicians
DavosWatch Archive – UnHerd
— Read on unherd.com/davos/
Another banking scandal
Of course, Alexandria Ocasio-Cortez defends cab drivers rather than the riders. Uber is infinitely better than any cab in New York City not to mention cleaner. These people are not capable of ever looking out for the consumer – only those with lobby money in hand for the next election.
— Read on www.armstrongeconomics.com/international-news/politics/alexandria-ocasio-cortez-becomes-a-professional-politician/
More hypocrisy
QUESTION: Hi Marty, I wanted to ask you if you know anything about the LEI (legal entity identifier) that brokers are now requesting from clients who trade forex and other derivatives and who have accounts under a business structure? I recently opened a trading account under a business structure (company/trust) and was only told yesterday I have a month to get an LEI (which I have to pay for myself and renew every year) otherwise I cant trade. I have tried to gather info on it but there is only limited info and it is mainly info from the perspective of the reporting entities (such as brokers) and virtually nothing from the traders perspective. It seems like something that has been imposed by the EU. I was wondering if you have also had to obtain an LEI? Cheers D ANSWER: A Legal Entity Identifier (or LEI) is a 20-character identifier that identifies distinct legal entities that engage in financial transactions. The LEI is a global standard, designed to be non-proprietary data that is freely accessible to all so they can track what entities are doing worldwide. More than 600,000 legal entities have registered from 195 countries. This was created as a consequence of the 2007-2008 Financial Crisis. It is interesting how all governments manage to expropriate more power and control with each financial crisis. It was the CDOs created by Goldman Sachs which blew up the world just as the Black & Schol models in options blew up the financial world back in 1998 with the Long Term Capital Management crisis. But the legal entities that have created these catastrophes are NEVER punished. Not a single entity lost its license and not a single director ever when to jail. The people who blow-up the world are always UNTOUCHABLE and the rest of us lose our rights and freedom in the process. The argument back during the 2007-2009 financial crisis was that there was no way to identify corporations and financial institutions to recognize the counterpart corporation on financial transactions. Therefore, the GOVERNMENTS could not figure it out while the counterparties knew who they were dealing with and accepted their credit position. Accordingly, it was impossible for governments to identify the transaction details and track the money flows of individual corporations and institutions. Governments argued they needed a simple identification method of everyone in the world. In 2011, the G20 (Group of Twenty) called on the Financial Stability Board (FSB) to provide recommendations for a global Legal Entity Identifier (LEI). They wanted a cross-border entity to track everyone in the world. This led to the development of the Global LEI System which began issuing these LEIs to create a unique identification of legal entities acting within the entire world economy. The G20 claims this is necessary so they can know the total risk amount in a crisis. However, the G20 is still incapable of estimating individual corporations’ and the financial institution’s amount of total risk exposure. They are incompetent when it comes to analyzing risks across the entire global marketplace. They cannot even resolve the failing financial institutions in Europe because of local regulation that prevents cross-border solutions within the Eurozone. The G20 blames this lack of knowledge was one of the factors that made it difficult for the early detection of the financial crisis, they will NEVER act to prevent anything in the first place. Adding more regulation simply reduces liquidity and shrinks the world economy. The G20, in response to these inabilities of financial institutions to identify organisations uniquely, claim that was the problem so that their solution was that financial transactions in different national jurisdictions can be fully tracked. Currently, the ROC (Regulatory Oversight Committee), a coalition of financial regulators and central banks across the country, cannot possibly act in advance for they fail to comprehend the dynamics of the world economy. Hence, this is just another means of collecting data to be able to hunt for global taxation.
— Read on www.armstrongeconomics.com/world-news/taxes/the-lei-is-the-means-to-an-end-to-in-the-hunt-for-global-taxation/
Never let a good crisis go to waste. More regulations, fees,and hidden taxes follow every crisis.
DavosWatch Archive – UnHerd
— Read on unherd.com/davos/
A great awakening, I hope
The press is all abuzz about the suicide rate is up 33% in 20 years and they blame the lack of funding as if this alone will cure the problem. They never seem to simply correlate this with economics. Now we have more than 47,000 Americans committed suicide in 2017, according to the Centers for Disease Control and Prevention. They also said that this is contributing to an overall decline in U.S. life expectancy rate. Even in Japan, there is a place known as the Suicide Cliffs. People jump from the cliffs in Japan cyclically. They jump during financial crises more than during any other period. They also will commit suicide when winter ends and the sun returns. People then see the requirement of returning to a routine they view as their torment and misery. In Japan, the intense pressure of Japanese schools has also been seen as a major contributing factor. As the largest continent in the World, Asia accounts for about 60% of World suicides with China, India, and Japan accounting for about 40% of the World’s suicides. On an international basis, there are about 1 million suicides that take place every year. The difference in the suicide methods between the Western and Asian countries is rather significant. While in financial centers jumping from buildings also took place in New York and Chicago during the Great Depression, there were also jumpers in Japan from the Panic of 1990. The use of firearms is the favored suicide method in many Western countries, but not in Asia perhaps due to the lack of access. Asian suicides often take the form of pesticide ingestion, charcoal burning, and self-immolation. Hanging seems to be also a leading suicide method both in the East and the West, as well as in prisons. Prison suicides will also take the form of deliberately trying to create a lethal confrontation with someone to get killed as they are compelled to engage in self-defense. Suicides correlate to economic hardship which can be personal or imposed upon by society and the business cycle. The higher the tax rate and the lower the standard of living is also a key factor for people will be driven to commit suicide facing economic failure. As the world economy continues to decline in real growth, it is not surprising that the suicide rate has increased by 33% since 1999 in the United States alone. This trend is part of the cycle. When people face that decision of whether to stay or to go into the light seeking relief and peace, sometimes they will take their entire family with them because the pain is so great yet they have responsibilities they also cannot leave behind. They will take their family in their mind relieving them of the same pain.
— Read on www.armstrongeconomics.com/armstrongeconomics101/understanding-cycles/the-business-cycle-the-suicide-rate/
Bayer to cut thousands of jobs – YouTube
— Read on m.youtube.com/watch
Bad deal of the decade
The Federal Deficit under ‘Divided Government’
— Read on www.americanthinker.com/articles/2018/11/the_federal_deficit_under_divided_government.html
It puts us on a slower bus toward default and the fiscal cliff.
What I have found totally shocking is that the British government under Prime Minister Theresa May is this need to surrender all rights just to remain in the customs union. She has not figured out that the UK has been at the top of the list of the European Union’s ‘Big Four’ economies in terms of economic growth ever since it has voted for BREXIT. The third-quarter Gross Domestic Product (GDP) growth grew by o.6%, while Germany’s economy shrunk by -0.2% and France came in at 0.4%, according to estimates published by Eurostat. Italy saw ZERO growth. It is really astonishing how Britain cannot negotiate to save its very life. Under May, the negotiations are tieing the UK to a sinking ship and there is really nothing any rational person seems capable of doing. Meanwhile, Brussels is so desperate to punish Britain to set an example in hopes of deterring others from leaving. The UK is the BIGGEST market for German autos in Europe. We are looking at the economic decline of Europe into 2020 which may even be a rather hard landing.
— Read on www.armstrongeconomics.com/international-news/britain/britain-tops-economic-growth-in-europe-proving-it-does-not-need-the-eu/
Brexit is the right move.
John Barleycorn 
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