Socialism

Martin Armstrong: ‘The West Has To Learn That Marx Was Just Wrong’

The final post of last week concerned recent material from my research suggesting socialism is becoming popular among Millennials. I ended with this:

Before moving on to a different topic, I must emphasize these last two posts shouldn’t be construed as some sort of attack on Millennials, Democrats, or socialism. Rather, their purpose was to get an idea of where the country might be heading when “America’s largest generation” start flexing their collective political muscle. And what might be required for “protecting and growing self and wealth” when that happens.

I’m going to add just one more thing before departing this subject. And it’s related to getting that “idea of where the country might be heading.”

Back on November 28, 2017, economist Martin Armstrong discussed China in a post on his company’s website. The creator of the Economic Confidence Model included the following in the piece:

What makes the US economy the biggest? The American consumer and lower taxes than Europe. When you leave more money in the hands of the people, they spend it creating jobs for everyone. Europe is following Marx. They think the government is better equipped to spend other people’s money. That produces corruption, not economic growth.

As long as China keeps its tax rate low and allows the people to spend the benefits of their labour, then it will continue to rise economically and displace those in the West who are blinded by power and pursue this Hunt forever more Taxes. The West has to learn that Marx was just wrong. The strongest economic growth unfolds when people are allowed to spend their own money.

(Editor’s note: Bold added for emphasis)

Again, this post is not an attack on socialism/Marxism. But considering the track record of Marxist states in dealing with “self and wealth,” it only makes sense those serious in “protecting and growing” these things would keep a close eye on the direction the collective political mindset of America’s youth is heading. And act accordingly.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Armstrong, Martin. “Renminbi v the Dollar.” Armstrong Economics Blog. 28 Nov. 2017. (https://www.armstrongeconomics.com/international-news/china/renminbi-v-the-dollar/). 10 Dec. 2017.

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Millennials Turning To Socialism?

Early this morning I blogged about findings from a new Harvard University poll which suggest the U.S., with Millennials at the helm, could be headed “left” and towards stricter gun control.

Recent material I’ve come across in my research also suggests socialism is becoming popular among Millennials.

The AFP’s Maggy Donaldson wrote on November 10:

While working as an electrician Lee Carter received a literal shock, through one hand and across the chest, that jolted him into politics and turned him on to what was a dirty word in America for nearly a century: socialism.

His struggle to obtain compensation for the workplace injury inspired him to run for office, and this week Carter ousted a top Republican incumbent to nab a spot in Virginia’s House of Delegates, becoming one of over a dozen unabashed socialists newly elected to US state and municipal seats one year after Donald Trump took the White House.

The 31-year-old former Marine is part of a growing cadre of Americans, particularly millennials, pledging their allegiance to the Democratic Socialists of America, the nation’s fastest growing leftist group that was originally founded in 1982 as a foothold for Marxists.

Riding the wave of democratic socialist Bernie Sanders’s spirited White House bid against primary rival Hillary Clinton, the organization is helping propel socialism out of the shadows.

In the years prior to the Sanders campaign, the DSA’s number of card-carrying members hovered around 6,500- and has nearly quintupled since 2016’s presidential race to more than 30,000.

Its median age has dropped from about 60 to 35, according to organizers, some of whom have playfully referred to the surge among youth as a “socialist baby boom.”

(Editor’s note: Bold added for emphasis)

There’s also this November 2 media advisory from YouGov (international market research and data analytics firm) and the Victims of Communism Memorial Foundation (D.C.-based nonprofit “devoted to commemorating the more than 100 million victims of communism around the world and to the freedom of those still living under totalitarian regimes”):

Annual Poll Release Shows Americans Still Have A Lot To Learn About Communism

New Poll Reveals Troubling Facts and Encouraging Trends About Millennials in America

This year’s centennial anniversary of the Bolshevik Revolution has caused many to reflect on the legacies that Marxism and communism have left on our cultural memory. It has been a full century since Vladimir Lenin’s Bolsheviks seized power in Petrograd and communism made its bloody debut on the world stage. Authors, activists, and politicians alike are asking the question: what has America learned from one hundred years of communism?

When the Victims of Communism Memorial Foundation published our inaugural study on American attitudes toward socialism and communism last year, the results revealed some disturbing trends in American society.

We just completed our second annual study, tracking how opinions about communism among Americans have changed since 2016. The results aren’t very encouraging.

For starters, as of this year, more Millennials would prefer to live in a socialist country (44%) than in a capitalist one (42%). Some even said they would prefer to live in a communist country (7%). The percentage of Millennials who would prefer socialism to capitalism is a full ten points higher than that of the general population.

It seems that the majority of America’s largest generation would prefer to live in a socialist or communism society than in a free enterprise system that respects the rule of law, private property, and limited government. This is even more disconcerting when coupled with the fact that, despite Millennials’ enthusiasm for socialism and communism, they do not, in fact, know what those terms mean.

One remarkable finding of our study is that, to a high degree, Americans favor absolute protections for free speech, regardless of their views of communism or socialism. Communists and socialists more broadly have historically and ideologically favored state regulation of the press, speech, and popular assembly. Our results suggest that Millennials who favor socialism and communism have not thoroughly considered the implications of their political beliefs.

Communism isn’t back: It never left. We simply forgot about it. And as it rears its ugly head once more, openly and shamelessly, we seem far less prepared to meet the challenge in this century as we did in the last.


Victims of Communism Memorial Foundation, “What is Socialism?”
YouTube Video

Before moving on to a different topic, I must emphasize these last two posts shouldn’t be construed as some sort of attack on Millennials, Democrats, or socialism. Rather, their purpose was to get an idea of where the country might be heading when “America’s largest generation” start flexing their collective political muscle. And what might be required for “protecting and growing self and wealth” when that happens.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Donaldson, Maggy. “Once taboo, socialism finds comrades among US millennials.” Agency France-Presse. 10 Nov. 2017. (https://www.yahoo.com/news/once-taboo-socialism-finds-comrades-among-us-millennials-051949477.html). 7 Dec. 2017.

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Anti-Trump Rallies Saturday

On Saturday, November 4, a number of anti-Trump (and Pence) rallies are scheduled to take place in various American cities. Caleb Parke reported on the FOX News website tonight:

A series of anti-government, leftist rallies set to descend on major cities nationwide Saturday is drawing the attention of local officials, who, like the organizers themselves, fear the events could be hijacked by violent masked anarchists.

The left-wing “Refuse Fascism” group is using Nov. 4 as its kickoff for demonstrations in nearly two dozen U.S. cities, protests it says will continue “day after day and night after night- not stopping- until our DEMAND is met.”

The “DEMAND” is the removal of President Trump and Vice President Pence…

(Editor’s note: Bold added for emphasis)

Parke added that the 20 cities where rallies are set to take place include Atlanta, Austin, Boston, Chicago, Cincinnati, Cleveland, Honolulu, Los Angeles, Minneapolis, New York City, Philadelphia, San Francisco and Seattle.

According to the Refuse Fascism website, here are the details for the Chicago event:

Chicago, November 4
1:00 pm
Federal Plaza, 219 S. Dearborn

Federal Plaza. My old stomping ground.

Anyway, just be advised should you have plans in these particular cities tomorrow.

For readers going into areas where rallies are scheduled to take place and who have concerns about the gatherings turning into riots, you might want to consider the following advice from Dr. Bones and Nurse Amy of Survival Medicine Handbook-fame (now in it’s 3rd edition):


“13 Tips to Survive a Protest or Riot”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

Parke, Caleb. “Antifa apocalypse? Anarchist group’s plan to overthrow Trump’s ‘regime’ starts Saturday” FOX News. 3 Nov. 2017. (http://www.foxnews.com/us/2017/11/03/antifa-apocalypse-anarchist-groups-plan-to-overthrow-trump-regime-starts-saturday.html). 3 Nov. 2017.

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Signs Of The Time, Part 110

The most sobering article I’ve read yet about the deteriorating state of affairs in Venezuela. From Hannah Dreier of the Associated Press yesterday:

Tebie Gonzalez and Ramiro Ramirez still have their sleek apartment, a fridge covered with souvenir magnets from vacations abroad, and closets full of name brand clothes. But they feel hunger drawing near.

So when the Venezuelan government opened the long-closed border with Colombia this weekend, the couple decided to drain what remained of the savings they put away before the country spun into economic crisis and stock up on food. They left their two young sons with relatives and joined more than 100,000 other Venezuelans trudging across what Colombian officials are calling a “humanitarian corridor” to buy as many basic goods as possible…

Some fear what’s taking place in the “socialist paradise” is coming to the United States. I sure as hell hope not, as the International Monetary Fund is predicting 1,600% inflation for the South American country next year.

Regrettably, I do think hyperinflation could be in the cards for us down the road.

“Signs Of A Coming Time”?

An insightful piece by Dreier, which you can read over on the ABC News website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Signs Of The Time, Part 96

This week’s “Signs Of The Time” post features an actual sign for once.

Widely-circulated on social media yesterday was this mock “motivational poster”:

Source: Facebook

Source: Facebook

ANY CHARACTER HERE

According to one conservative-leaning blog, the sign was spotted in Illinois.

No surprise there. If anyone “gets” socialism, it’s certainly the inhabitants of the “People’s Republic of Illinois,” right?

Sadly, I don’t think my “comrades” get it at all. But they will soon…

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Illinois Tax Hikes Coming Warn Municipal Bond Fund Managers

Talk of rapidly-approaching tax hikes in the “Land of Lincoln” is growing. Reuters’ Nick Brown, Megan Davies, and Karen Pierog reported yesterday:

With no easy way to financially engineer or negotiate its way out of a budget and pensions crisis, Illinois is likely to dish out some unpleasant medicine to its residents in the next few years. And investors say that is most likely to come in the form of higher taxes.

Given the Democrats’ control of the state legislature and their opposition to many proposals for spending cuts, municipal bond fund managers see little alternative for Republican Governor Bruce Rauner other than eventually agreeing to hike taxes, such as raising the state’s income tax or broadening its sales tax base…

(Editor’s note: Bold added for emphasis)

Regular readers of Survival And Prosperity shouldn’t be surprised when the hikes (fees, fines, and taxes) arrive, as they’ve been discussed on this blog for quite some time now. The tragedy is that Springfield continues to waste time and resources on trivial matters while neglecting to tackle crucial issues like the well-publicized debt crisis. Monique Garcia and Kim Geiger reported on the latest nonsense preoccupying the politicians. From the Chicago Tribune website this afternoon:

Democratic Speaker Michael Madigan’s effort to ask voters to approve a measure to impose higher income taxes on millionaires failed in the House on Thursday, but provides the powerful Southwest Side politician ammunition to attack Republicans in next year’s legislative campaigns.

The proposal needed 71 “yes” votes to pass, but received just 68. But now there’s a roll call, and Madigan’s Illinois Democratic Party could send out mailers criticizing Republicans who voted against the idea. Democrats already have sent out attack ads against Republicans who did not vote in favor of a property tax freeze last week

(Editor’s note: Bold added for emphasis)

Games. Stupid political games as the state’s “financial reckoning day” fast approaches.

By the way, back on March 24 of last year I blogged about that push for a “millionaire’s tax” in Illinois. My prediction now is pretty much the same as it was a year ago:

Should Illinois Democrats jack up their income taxes, I suspect the number of Illinois millionaires right before the tax hike is implemented will plummet. Revenue will follow. Out-of-state vacation homes in Indiana and Wisconsin will be declared as primary residences.

The only difference being, I forgot to mention Michigan vacation homes.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Brown, Nick, Davies, Megan and Pierog. “As Illinois runs out of options in budget crisis, tax rises seen in the cards.” Reuters. 20 May 2015. (http://news.yahoo.com/illinois-runs-options-budget-crisis-tax-rises-seen-051616644.html). 21 May 2015.

Garcia, Monique and Geiger, Kim. “Madigan’s ‘millionaire tax’ question fails in House.” Chicago Tribune. 21 May 2015. (http://www.chicagotribune.com/news/local/politics/ct-rauner-warns-of-long-overtime-20150521-story.html). 21 May 2015.

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Quote For The Week

“Probably the greatest harm done by vast wealth is the harm that we of moderate means do ourselves when we let the vices of envy and hatred enter deep into our own natures.”

-Theodore Roosevelt (26th U.S. President. 1858-1919)

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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