Ocasio-Cortez Gets Seat on House Financial Services Committee Overseeing Wall Street | Armstrong Economics

If you ever needed proof that government is collapsing, here it is live and in full color. Freshman Congresswoman Alexandria Ocasio-Cortez (D-N.Y.) was just placed on the House Financial Services Committee. Who is the Chairperson? None other than the controversial Maxine Waters (D-Calif.). We now have two people with absolutely NO expertise in this field going to overlook banks and Wall Street. This illustrates the entire problem and crisis we face. This is like directing me to operate as a Brain Surgeon without any consideration if I even understand the field no less have any experience. We can count on wild and crazy statements coming from this committee that will disrupt the world economy and confuse the hell out of people. It certainly appears with every step we take, we are moving in the direction of a complete collapse in confidence. I can’t imagine the bond market will survive comments coming from these two pillars of financial stupidity. You cannot be the boss of people in an office if you do not even understand what the work is all about. Waters served in the California State Assembly, to which she was first elected in 1976. She was elected to Congress in 2013. Here too, she has worked in politics only. Neither her nor Ocasio-Cortez have any experience in the financial industry. The computer continues to show that both parties will decline and a third party will rise from the ashes. We warned that we have a Bearish Reversal at 47 seats in the Senate for the Democrats. The Democrats lost seats in the Senate dropping from 49 to 47. They landed right on the Bearish Reversal at 47 meaning it is not yet time to see their total collapse. We can see when we combine the seats in the House and Senate, the Democrats are in a long-term protracted bear market. Every rally results in fewer seats than the previous with each new low making a new lower low. Just a technical market perspective reveals that the Democrats are really in trouble. They may think they need to oppose everything that Trump says or does. All that is showing is they are incapable of providing any leadership themselves. Appointing Ocasio-Cortez and Waters to the House Financial Services Committee will get them the publicity with wild statements. However, they will end up being even more crazy than Trump who is known for some of his off-the-wall zingers.
— Read on www.armstrongeconomics.com/international-news/politics/ocasio-cortez-gets-seat-on-house-financial-services-committee-overseeing-wall-street/

New Governor of California Want to Tax Water | Armstrong Economics

The total mismanagement and incompetence of government is just beyond description. The new California Governor Gavin Newsom presented his first state budget during a news conference, last week on January 10th, 2019. While he won bashing Trump over the illegal aliens because he care so much for families, he could care less about how much of a burden the state imposes upon families. His new proposal to tax drinking water will impact everyone – not the rich they always point to. He is claiming to tax water to help the poor afford water. His the newly-released budge calls for the creation of a “safe and affordable drinking water fund” that would “enable the State Water Resources Control Board to assist communities, particularly disadvantaged communities, in paying for the short-term and long-term costs of obtaining access to safe and affordable drinking water.” It’s like labeling the most abusive taking of our rights the “Patriot Act” whenever you need to hide the real abuse. He is calling the tax as suddenly necessary to ensure “safe” water. They paid for a study to show that 6 million Californians rely on water providers that violated state standards at some point in the last six years. The area impacted was Southern San Joaquin Valley and the Mojave Desert. Hey, that’s a great excuse to tax the entire state. Sources behind the curtain have states deeply concerned because they can see we are headed into a recession. This leg down should be harder moving into 2020. The whispers behind the curtain fear that revenues will decline sharply as costs will rise further with pensions for state employees. Nobody is yet willing to step up and say this system is collapsing and it is unsustainable long-term. They are only interested in raising taxes just to get by for the year. Newsom is concerned that revenue could drop $25 billion in 2019-2020. They are simply looking for other excuses to raise taxes. Ironically, California is the fourth-largest oil producing state. Before he left office, former Governor Jerry Brown signed a mandate that the state obtain all of its electricity from zero-carbon sources by 2045. That in itself was a very, very big deal. However, Brown also issued an executive order calling for the entire California economy to become carbon-neutral by 2045. The sheer cost of that where California is already the highest taxed state will most likely push its taxes perhaps even beyond France. This will become a major test for those cheering to stop Climate Change. It was precisely the Global Warming taxes that began the French protests of the Yellow Vests. Those in government NEVER look at what they are doing to society. They believe they possess the Divine Right of Kings to do whatever they please without regard for the people.
— Read on www.armstrongeconomics.com/world-news/taxes/new-governor-of-california-want-to-tax-water/

The hunt for taxes intensifies as social programs are expanded to illegal immigrants.