bankers

Martin Armstrong: ‘The United States Will Most Likely Break Apart By 2036’

Back on January 27, 2016, I asked:

Do any readers follow Martin Armstrong, economist at Armstrong Economics (and former chairman of Princeton Economics International Ltd.) and the creator of the Economic Confidence Model? While the jury’s still out on him (for me), I do read his blog almost daily…

I still “read his blog almost daily.” And something Armstrong wrote last week really caught my attention. From “The Termination of Cash Approaching Rapidly”:

I am becoming deeply concerned that the United States is headed into its version of a communist revolution under the label “progressive” and the bankers, who Larry Summers has always supported, will be used as the scapegoat for Wall Street and the “rich” who have to be stripped of their liberty and their money for the “good of the people” as they always say. The United States does not look like it will be a country we can recognize by 2032 if we can even make it past 2024. The United States will most likely break apart by 2036. There are separatist movements rising in many areas from Vermont and Texas to California, who reasons they voted for Hillary not Trump justifying their departure.

The entire purpose of eliminating cash is to strip us of our assets, liberty, and to prevent bank runs. The youth, who have been brainwashed by Bernie Sanders and people like Elizabeth Warren, will turn against the older generation and enslave them if at all possible. This threatens our future with outright civil war. They will not be satisfied until they destroy the freedom of their opposition. It is starting to appear that 2036 is our date with destiny

(Editor’s note: Bold added for emphasis)

America kaput by 2036- if not earlier?

That’s a pretty disturbing thought. And reading that blog post reminded me of an article I pulled up almost eight years ago on The Wall Street Journal website (my how time flies) by Andrew Osborn, who discussed a similar prediction made by Russian academic Igor Panarin, a former KGB analyst and Dean of the Russian Foreign Ministry’s school for future diplomats (then and now). On December 29, 2008, Osborn wrote:

Mr. Panarin posits, in brief, that mass immigration, economic decline, and moral degradation will trigger a civil war next fall and the collapse of the dollar. Around the end of June 2010, or early July, he says, the U.S. will break into six pieces — with Alaska reverting to Russian control…

California will form the nucleus of what he calls “The Californian Republic,” and will be part of China or under Chinese influence. Texas will be the heart of “The Texas Republic,” a cluster of states that will go to Mexico or fall under Mexican influence. Washington, D.C., and New York will be part of an “Atlantic America” that may join the European Union. Canada will grab a group of Northern states Prof. Panarin calls “The Central North American Republic.” Hawaii, he suggests, will be a protectorate of Japan or China, and Alaska will be subsumed into Russia…

(Editor’s note: Bold added for emphasis)

Obviously 2010 came and went… and the good ol’ U.S. of A. remains intact.

But I can’t help but wonder if Panarin’s prediction might not be in the same category as an infamous forecast made by the American financial analyst Meredith Whitney about a wave of municipal defaults. I wrote back on December 22, 2010:

Last night Whitney, now CEO and founder of Meredith Whitney Advisory Group, appeared on CNBC and warned that a wave of defaults by state and local governments in the coming months will cause a sell-off in the municipal bond market, hurting U.S. economic growth and stocks- and causing social unrest

I blogged a year-and-a-half later:

Whitney will eventually be vindicated about the wave of defaults (her timing was just off)…

“Her timing was just off”

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

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on material found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. The creator/Editor of this blog is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information contained herein.)

Sources:

Armstrong, Martin. “The Termination of Cash Approaching Rapidly.” Armstrong Economics Blog. 24 Nov. 2016. (https://www.armstrongeconomics.com/world-news/taxes/the-termination-of-cash-approaching-rapidly-the/). 1 Dec. 2016.

Osborn, Andrew. “As if Things Weren’t Bad Enough, Russian Professor Predicts End of U.S.” The Wall Street Journal. 29 Dec. 2008. (http://www.wsj.com/articles/SB123051100709638419). 1 Dec. 2016.

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Columbia University Economist Decries Criminal Behavior On Wall Street, ‘Corrupt Politics To The Core’

Stumbling on the following made me reminisce about the “good old days” as editor of Boom2Bust.com, “The Most Hated Blog On Wall Street,” when I would following the shenanigans on Wall Street a lot more than I’m able to today. From Jeffrey Sachs, an economist and Director of The Earth Institute at Columbia University, at the 31st Annual Monetary & Trade Conference on April 17:

A lot of what’s happened actually and what’s been revealed is in my view prima facie criminal behavior. It’s financial fraud on a very large extent. There’s also a tremendous amount of insider trading, and you can even watch it when you’re living in New York, how that works…

I believe we have a crisis of values that is extremely deep, because the regulations and the legal structures need reform. But I meet a lot of these people on Wall Street on a regular basis right now. I’m going to put it very bluntly. I regard the moral environment as pathological. And I’m talking about the human interactions that I have. I’ve not seen anything like this, not felt it so palpably. These people are out to make billions of dollars and nothing should stop them from that. They have no responsibility to pay taxes. They have no responsibility to their clients. They have no responsibility to people, counterparties in transactions. They are tough, greedy, aggressive, and feel absolutely out of control, you know, in a quite literal sense. And they have gamed the system to a remarkable extent, and they have a docile president, a docile White House, and a docile regulatory system that absolutely can’t find its voice. It’s terrified of these companies.

If you look at the campaign contributions, which I happened to do yesterday for another purpose, the financial markets are the number one campaign contributors in the U.S. system now. We have a corrupt politics to the core, I’m afraid to say, and no party is – I mean there’s – if not both parties are up to their necks in this. This has nothing to do with Democrats or Republicans. It really doesn’t have anything to do with right wing or left wing, by the way. The corruption is, as far as I can see, everywhere. But what it’s led to is this sense of impunity that is really stunning, and you feel it on the individual level right now, and it’s very, very unhealthy.

I have waited for four years, five years now, to see one figure on Wall Street speak in a moral language, and I’ve not seen it once. And that is shocking to me. And if they won’t, I’ve waited for a judge, for our president, for somebody, and it hasn’t happened. And by the way it’s not going to happen anytime soon it seems.


“SR 76 Wall Street”
YouTube Video

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

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Gerald Celente Warns ‘The Worst Is Yet To Come’

Gerald Celente, the founder and director of The Trends Research Institute, has been forecasting trends since 1980 and is known for his uncanny ability of being correct a lot. The New York Post once said of him, “If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.” The well-known trends forecaster was recently interviewed by GoldSilver Radio’s Leigh Greenberg (GoldSilver Radio is operated by our advertising partner, GoldSilver.com), and Celente predicted some disturbing events ahead for the United States, including the following:

The problems are unsolvable. You can’t bring down debt by piling more debt upon us. So we believe that an economic 9/11 with some type of economic martial law are going to go hand-in-hand. They may call a bank holiday.

Great interview. Celente doesn’t hold back… as usual:


“Gerald Celente- GoldSilver Radio March 13, 2012”
YouTube Video

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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Wall Street Bonuses To Plunge, Layoffs Escalate?

I remember the good old days, when pointing out the following on Boom2Bust.com may very well have gotten the editor of “The Most Hated Blog On Wall Street” an assortment of nasty e-mails. MarketWatch’s Brett Philbin reported yesterday:

Bond traders and senior management at banks could see their cash and stock compensation cut by roughly a third as Wall Street may post its worst year for such payouts since the 2008 financial crisis.

More than nine months into 2011, compensation consultants are projecting that so-called incentive pay, will fall 30% to 40% from a year ago.

Lofty pay packages will be in the rear view mirror for many professionals as business conditions for firms including Goldman Sachs Group Inc. and Morgan Stanley have slowed in recent months due to concerns about the U.S. economy, the European debt crisis, and volatile equity markets.

Compensation is under pressure as banks are posting lower trading revenue. Executives have said market conditions in fixed income, currencies, and commodities, or FICC, trading — once the driver of profits — have plunged to their lowest level in at least a year. Proprietary trading, or trading for a bank’s own account, is being banned as firms are getting pinched by regulators and higher global capital requirements. With no clear catalyst to boost earnings, many banks have also unleashed a flurry of cost cutting measures, including widespread layoffs.

(Editor’s note: Italics added for emphasis)

Philbin tallied the toll being taken on Wall Street jobs. He added:

Since April, the securities industry has lost 4,100 jobs as of August, and could lose nearly 10,000 positions by the end of 2012, according to a report released Tuesday by New York State Comptroller Thomas DiNapoli.

(Editor’s note: Italics added for emphasis)

I have a feeling not many Americans these days will be shedding a tear for Wall Street’s “plight.” In fact, Mr. Pink’s world’s smallest violin comes to mind here.


“Reservoir Dogs- Tipping Scene”
(Warning: Many obscenities here. Many.)
YouTube Video

Source:

Philbin, Brett. “Bonuses likely headed way south on Wall Street.” MarketWatch. 12 Oct. 2011. (http://www.marketwatch.com/story/bonuses-likely-headed-way-south-on-wall-street-2011-10-12). 13 Oct. 2011.

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Thursday, October 13th, 2011 Banking, Employment, Wall Street No Comments
Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

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