PM's Self Reliance Tools: The next danger: A government economy; Sign petition to impeach Biden

Poor Man Survival

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The next danger: A government economy instead of a real economy

The government bureaucracy will never accept responsibility for a collapsing economy, and the elite who run the United States will never give up power. Instead, they attack U.S. citizens on all fronts.

The grand design is to take the remaining wealth of the American people. The borders are silently open. Tax havens are being attacked. And every dollar amount you hold over $600 is being scrutinized.

Even if U.S. authorities collected every foreign bank account or investment, it would make absolutely no difference in the financial default that is coming. It's a ruse!

We have professional, lifelong politicians who are paid by the government and directed by the elite. They don't dare pass legislation to impose term limits to stop career politicians.

The people are now the enemy of the state, and their remaining wealth is seen by the politicians as their solution to maintaining perpetual power. The peoples' rights, privileges and immunities are being stripped away.

Washington's reckless spending has racked up another $14 trillion in debts on top of the $14 trillion already owed before President Obama… the dollar has plummeted in value — and round two of the worst global financial crisis ever is preparing to strike.

Real economy vs gov't economy

Government now consumes so much that it has destroyed capital formation. The government is trying to increase taxes without an increase in production.

But even in the face of economic chaos, and despite Biden pulling troops out of Afghanistan, the United States is still warmongering under one pretense or another. War hides the profligacy of government.

Where does it end? Must it end in a crash? The answer is that since the decisive causes of a crash and financial crisis are not found in the policies applied by the central bank after the panic has started, but in the scale of the excesses and imbalances that developed during the preceding mania.

Our contention is that the size of the market bubble and the credit inflation encompasses the entire economy and is without precedent in history. Imbalances and dislocations are so vast because the central banks have opened the money spigots, and the crisis has been compounded and worsened by fueling ever greater excesses.

This mania is an addiction to credit.

The economy needs ever larger credit injections just to stay the collapse. Any tightening of credit — and it does not have to be a contraction, merely a slowdown in the growth of credit — which is what crashed the world economy in 2008 could do so again.

This predicament is built upon widespread complacent and misplaced comforting view, egged on by the likes of Alan Greenspan, that there is in America enormous household wealth; i.e., paper wealth from the stock market and inflated equity in rising real estate prices.

This foretells a trap of sinister proportions.

Any concerted attempt to convert illiquid stock holdings and real estate into cash will merely depress stock and real estate prices, destroying ever more market liquidity (except for Elon Musk, who seems to be able to sell billions in Tesla stock and not suffer any consequences due to the mania surrounding his "company").

Typically, market liquidity vanishes overnight, and as people begin to realize the futility of their attempts to raise cash, the selling turns into a stampede and panic. This is indeed how every bubble in history has ended. How can this one be different?

Americans have 56 percent of their financial assets in the stock market compared to 24 percent in 1929. The situation of minimum liquidity and maximal financial leverage and indebtedness certainly implies that no one suspects a financial collapse. On the contrary, it reflects bullishness to the extreme.

Even though the stock market is now politically and economically the U.S. economy, it is being manipulated for political reasons. The government is preventing a crash of the S&P to avoid a collapse of the market and a collapse of confidence. So the government supports the S&P 500 via the futures market just as the exchange stabilization board works through Goldman Sachs to sell gold forward to keep the price depressed.

There is enormous suffering ahead for unaware and unprepared people. There is plenty of historical precedent for this.

The U.S. government is currently experiencing a collapse of its moral, economic and legal foundations. The collapse was inevitable from the establishment of the Federal Reserve. The elites created fiat paper money. With it, they have polluted the planet and put the people at the mercy of a cannibalistic bloodlust of dog-eat-dog depravity.

Just think; America's top 1 percent income earners took up 8 percent of total income in 1970. Today, this same 1 percent takes up over 20 percent of overall income. No wonder they promote the stock market, with worldwide dividend payouts of $1.43 trillion in 2019 alone.

Economic depression brings on this kind of inequality. The United States has the highest income inequality in the world, and the most broken job market, now that no one wants to return to the "minimum wage" jobs they were fired from due to the government's lockdowns, and the rest of the jobs having been disappeared into the black hole created by the U.S. fascist system, overregulation and Obamacare.

The divide between the people and the elected class and their enforcers will continue to grow. Nothing good can happen to America without major economic and political reform. Can you see it? The rule of law and free markets must return to America.

Yours for the truth,

Bob Livingston
Editor, The Bob Livingston Letter^®

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SIDEBAR

Have you had enough of Joe Biden and his disastrous presidency? I know I have.

From his ill-planned decision to abandon Afghanistan, getting American heroes killed in the process, to the constant rise of inflation and mandates that oppress our freedoms, it’s high time we said enough.

And to do just that, we are passing around a petition.

Basically, if you sign it, you agree that Biden is only hurting our country and that we can’t stand by and let that continue. It says that because of his complete lack of courage and willingness to do what is right, we are officially done with him.

Should it get signed by enough US citizens, we could accomplish our goal of kicking him out of office.

Help us achieve that by signing the petition to impeach Biden today.

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