Barack Obama

Election Day TV Coverage Highlights

From around 6 PM yesterday until 1:45 AM this morning, I was pretty much glued to the television watching how the 2016 U.S. presidential election would pan out. The following are some highlights from that TV viewing marathon. But before I begin, some things to note:

-While I did work for the Democrats in the U.S. Senate at one time, I am not a poltical partisan. I am both “conservative” and “liberal,” depending on the issue. Those who have followed my blogging regularly since 2007 can attest to that, where I have been just as quick to flame George W. Bush and his gang as Barack Obama, Hillary Clinton, and their respective crews.
-I had no idea who would win the White House.
-My network of choice for Election Day was Fox News.

As for those highlights?

-There was a point early in the night when I thought Hillary Clinton might win the election. Initial results from so-called “battleground states” seemed to be in her favor. But Karl Rove, former Deputy Chief of Staff and Senior Advisor to “Dubya,” reminded viewers that these were the ballots from “early voting” that were being tallied, which Democrats love to push, utilizing their usually-effective “ground game.”

-The first inkling I had that Donald Trump might win the election was when Fox News anchor Chris Wallace uttered the following:

At least I’m coming to the conclusion tonight, conclusion is the wrong word, open to the possibility- Donald Trump could be the next President of the United States…


“Chris Wallace: Trump could be our next president”
YouTube Video

-I became more attuned to the political earthquake at hand when Fox News’ Jennifer Griffin, reporting at the site of the Clinton victory party, described a silent, shell-shocked crowd.

-The results kept pouring in through the night. Yet Trump still hadn’t clinched victory. However, this late evening tweet (now since deleted I heard) from Gerard Araud, French ambassador to the United States, hammered home what was taking place Tuesday:

After Brexit and this election, everything is now possible. A world is collapsing before our eyes. Dizziness.

(Editor’s note: Bold added for emphasis)

As Anthony Bond pointed out over on The Mirror (UK) website today:

The experienced diplomat would need to work with Trump and his team if the Republican becomes President, making his remarks all the more astonishing…

-While Clinton campaign chairman John Podesta came out with his “come back tomorrow” speech since a few remaining races stood undecided, I desperately tried to stay awake to see what the Trump camp was going to say. The attempt was futile, and I called it a night around 1:45 AM.

-When I woke up a little after 7 AM, I grabbed the TV remote control off my nightstand, turned on FOX 32 Chicago, and saw that Donald Trump had been elected the 45th President of the United States. I subsequently watched as Clinton supporters levelled accusations of sexism, racism, vote rigging, Russian involvement, etcetera, against the Trump campaign. Perhaps there was a relatively simple explanation for their candidate’s defeat. Basic enough that even “deplorables” could understand. Greg Gutfeld, co-host of the the Fox News TV show The Five, claimed during last night’s election coverage:

This is culture versus culture. When you’re in a small town and Katy Perry, and Lady Gaga, and Funny or Die, and Miley Cyrus mocks you for your unhappiness and for your beliefs, you now see millions of people saying, “I’ve had enough of that culture. I don’t need you anymore.” This was the F-U to popular culture…

(Editor’s note: Bold added for emphasis)

“This was the F-U to popular culture”


“Gutfeld: Small town America is tired of being mocked”
Fox News Video

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

Source:

Bond, Anthony. “French ambassador to the US says the ‘world is collapsing’ as Donald Trump looks set to become President.” The Mirror. 9 Nov. 2016. (http://www.mirror.co.uk/news/world-news/french-ambassador-says-world-collapsing-9223847). 9 Nov. 2016.

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Wednesday, November 9th, 2016 Europe, Government, Political Parties, Racism No Comments

Signs Of The Time, Part 107

Personally, I believe that whoever wins the White House in November will be inheriting a “poisoned chalice” when it comes to the economy.

I strongly suspect the United States will enter into recession (if it’s not already in one) shortly.

And I fear the next (final?) stage of a U.S. financial crash I first started warning about back on Memorial Day Weekend 2007 may be helped along with the election of one particular candidate to the highest political office in the land after spotting the following this morning on the CNBC website.

John Harwood reported Monday:

One of President Barack Obama’s economic advisers will join Hillary Clinton’s campaign in another sign of close coordination between the White House and the presumptive Democratic nominee.

Jacob Leibenluft, deputy director of the National Economic Council, will become a senior policy adviser as Clinton prepares to fill out her economic agenda for the general election…

(Editor’s note: Bold added for emphasis)

Anyone looking forward to four (eight?) more years of “Obamanomics”?

If so, it sounds like that could very well be what’s in store for the country again after November 8, based on this news and other developments I’ve been following.

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

Source:

Harwood, John. “Hillary Clinton to add Jacob Leibenluft, Obama’s long-time economic adviser, to campaign team.” CNBC.com. 20 June 2016. (http://www.cnbc.com/2016/06/20/hillary-clinton-to-add-jacob-leibenluft-obamas-long-time-economic-adviser-to-campaign-team.html?utm_content=buffer72413&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer). 21 June 2016.

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Peter Schiff: Obama, Federal Reserve, Government Have Failed As ‘This Economy Is A Disaster’

Economist, financial broker/dealer, and author Peter Schiff appeared on the Alex Jones Show last Friday. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, discussed a number of subjects with Jones, including Puerto’s Rico’s recent default/economic crisis and “modest” U.S. inflation numbers. The “crash prophet” said of the U.S. territory:

It’s never a problem until it is. So Puerto Rico is broke, but now it’s a problem because the creditors figured out that they’re broke. Well America is more broke than Puerto Rico. That’s a fact. It’s just that our creditors haven’t figured it out yet. But when they do, then Donald Trump is going to end up being right, because all we can do is default. And if we don’t default, if we print money- which now Trump is saying, “Oh, we don’t have to default because we can print.” Well printing is worse than default, because printing doesn’t just wipe out the bondholders, it wipes out anybody who hold U.S. dollars.

When asked by Alex Jones where all the inflation is being hidden, the CEO of Euro Pacific Capital pointed out:

It’s actually hiding in plain sight because, because first of all, the inflation is all the money printing. That’s the definition. The consequence of inflation is that prices go up. But look, stock prices went way up. Real estate prices went back up. Rare art went back up. Collectible cars went back up. I mean, asset prices have gone up like crazy- that is inflation. And, of course, anybody who lives in America knows that the prices are going up. Look, rents are up about 8 percent year-over-year. Look how much health care costs have gone up. Utilities are going up. Look at the price of food. Have you bought a steak recently at a supermarket? Prices are going up. It’s just that the government is not doing an accurate job of reporting, and that is by design…. The standard of living is going down. Americans are working two or three jobs a piece. And they can barely make ends meet. You know, this economy is a disaster. And everyone wants to pretend that it’s great, because no one wants to admit that Obama is a complete failure, that the Federal Reserve was a complete failure, that everything that government has done has failed.


“Venezuela Is America’s Socialist Future”
YouTube Video

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.)

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Quote For The Week

“And that means we have to not only question the world as it is, and stand up for those African Americans who haven’t been so lucky- because, yes, you’ve worked hard, but you’ve also been lucky. That’s a pet peeve of mine: People who have been successful and don’t realize they’ve been lucky. That God may have blessed them; it wasn’t nothing you did. So don’t have an attitude. But we must expand our moral imaginations to understand and empathize with all people who are struggling, not just black folks who are struggling — the refugee, the immigrant, the rural poor, the transgender person, and yes, the middle-aged white guy who you may think has all the advantages, but over the last several decades has seen his world upended by economic and cultural and technological change, and feels powerless to stop it. You got to get in his head, too…”

-U.S. President Barack Obama, speaking at Howard University’s commencement ceremony last Saturday

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

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Peter Schiff: Obama, Fed Presided Over Phony Recovery, Sees ‘Major, Major Currency Crisis’ Coming

This past weekend, Peter Schiff, the CEO of Euro Pacific Capital, uploaded a new video to The Schiff Report on YouTube.com. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, noted that it had been a while since he released an entry to this vlog. As such, Schiff talked about a number of subjects. He advised viewers:

I think that we’re already in recession. It’s just that the Fed hasn’t acknowledged it yet. And one of the reasons that Janet Yellen is so reluctant to come clean and acknowledge how weak the economy is because number one, it undercuts President Obama, who’s going around the world claiming the United States has the strongest economy in the world when we’re, in fact, in recession. Even Europe is growing faster than the United States. Yet somehow President Obama wants to claim credit for saving the U.S. economy and producing all this non-existent growth. While the Federal Reserve doesn’t want to peddle fiction, in the words of President Obama. So it doesn’t want to basically undercut his message of an economic recovery by acknowledging that it’s over. And for the same reason the Fed doesn’t want to take the wind out of Hillary Clinton’s sails, because she wants to sail into the White House based on the prosperity that was supposedly created by President Obama. So Janet Yellen doesn’t want to undercut her message because she wants to run on four more years. And the Fed can’t admit that we’re back in recession. And also the Federal Reserve has already claimed credit for success. They want to pretend that their monetary policies created this real recovery. They don’t want to acknowledge it ended. So they have their own credibility on the line. They want to pretend that the economy is still recovering…

Meanwhile, I think it’s the United States that’s going to launch a whole new round of easing. I think they’re going to be lowering interest rates back to zero and launching QE 4. The only unknown is whether they’re going to do it before or after the election. And it depends on how quickly the economy or the markets unravel, because Yellen would rather have to come to the rescue of the economy before the election, because admitting that it needs rescuing is going to be a problem for Hillary Clinton and it’s going to help Donald Trump. And I know Janet Yellen does not want to see Donald Trump as the next President. So that is the fine line that she is trying to walk. Whether she admits the economy is weak enough and needs stimulus, or whether she puts the stimulus anyway because it’s so weak she’s worried about the economy being too deep in a recession when voters go to the polls. And in that case, the Federal Reserve simply has to come up with some kind of excuse to try and blame things on the global economy. But the problem is, the situation is already turning around in the global economy. The real problem in the global economy is the United States.

And if you look at the action in the markets, people are just starting to figure this out. But it’s still kind of like a deer in the headlight moment. I think a lot of traders, a lot of people who are managing money on Wall Street. They’ve been getting beaten up this year. A lot of the big players are losing a lot of money because they are positioned for the wrong outcome. Everybody has believed this narrative of a legitimate recovery, where the Federal Reserve will be normalizing interest rates. I’ve known all along that that was a farce. That the economy hadn’t recovered. That the Federal Reserve had in fact prevented a recovery. That the U.S. economy is actually in worse shape now than it was in 2008. So rather than a recovery, we actually got sicker. We just covered up some of the symptoms. But we have exacerbated all of the problems. And President Obama- he’s hasn’t presided over a recovery at all. He’s presided over a bigger bubble than his predecessor. And in fact, the economic disaster that awaits his successor, is going to be much bigger than the disaster he inherited from George Bush. And he spent the entire last eight years of his presidency blaming everything bad on Bush, and claiming that he got us out of that mess. Well, the reality is, he has gotten us into a much bigger mess. And whoever succeeds him is going to have to deal with it. It will be interesting though if its ends up being Hillary Clinton. Is she going to still blame the disaster on Bush, and just forget about the eight years of Obama, and try and blame the recession she is going to inherit as some kind of leftover, residual recession from the Bush years? As if President Obama had actually nothing to do with it, when his policies simply exacerbated all the problems. He just double-downed on the failed policies of Bush. But then he added a lot of other policies that were even worse. And that is why this so-called recovery has been the weakest recovery that we have ever had. And, in fact, if the truth were known. If the numbers weren’t cooked by artificially-low inflation rates, we would have a much weaker recovery or we’d have no recovery at all. But the people who are voting for Bernie Sanders or voting for Donald Trump- they are living in this recession. This phony recovery that President Obama and the Federal Reserve want to take credit for.

Schiff hasn’t deviated from his long-held belief of a coming dollar crisis. He warned viewers:

This is going to be a major, major currency crisis. And unfortunately, the currency crisis/economic crisis that’s coming- maybe it’ll start before Obama leaves office, just like the financial crisis blew up on the last year of the Bush administration. Or maybe it will be an inaugural present for Donald Trump or for Hillary Clinton. But this crisis that’s coming is going to be much worse, much worse, on an order of magnitude, kind of like a Richter scale-worse, than the financial crisis of 2008. Because the combination of bad fiscal policy and bad monetary policy, particularly monetary policy but also things like ObamaCare- all the things that the Federal Reserve and the federal government have done over the last seven or eight years have made the problem so much worse. Meanwhile, the debt has gotten so much bigger. The leverage has gotten so much bigger. The number of players, the financial markets, are so much more out-of-whack based on a false expectation of what is likely to happen. I mean, this is worse- these are bigger imbalances than we had leading up to the 2008 financial crisis. Fewer people are prepared for what’s going to happen. And when it does, it’s going to be a major economic upheaval, much worse than what we had in ’08 from the perspective of the average American… When you have a currency crisis, when the dollar is collapsing, when the cost of living is going up, and then people start to lose these part-time jobs- you lose your job and the cost of living goes up. This is going to be much worse.


“Gold and Currency Markets Expose U.S. Recovery Myth”
YouTube Video

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

(Editor’s notes: Info added to “Crash Prophets” page; 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.)

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Quote For The Week

“I don’t think I’ll have a good sense of my legacy until 10 years from now when I can look back with some perspective and get a sense of what worked and what didn’t. There are things I’m proud of: the basic principle that in a country as wealthy as the United States, every person should have access to high quality healthcare that they can afford. Saving the world economy from a Great Depression, that was pretty good. The first time I came to London, in April 2009, the world economy was in freefall, in part because of the reckless behaviour of the folks on Wall Street, but in part because of reckless behaviour of a lot of financial institutions around the globe. For us to be able to mobilise the world community, to take rapid action, to stabilise the financial markets and then in the United States to pass Wall Street reforms that make it much less likely that a crisis like that could happen again- I’m proud of that.”

(Editor’s note: Bold added for emphasis)

-U.S. President Barack Obama, speaking to students in London, England, on April 23, 2016

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

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Signs Of The Time, Part 100

A milestone has been reached with the “Signs Of The Time” series of posts.

I wasn’t sure what material I’d use for post number 100, when manna from Heaven suddenly appeared in the form of a headline on the home page of my Internet service provider:

Why people won’t say the economy is booming

By most measures, the economy is doing great. So, why are people reluctant to admit it?

Obama: ‘We went through a really scary time’

In the accompanying piece, Sam Ro, managing editor at Yahoo! Finance, wrote Sunday:

By most measures, the economy is doing great. The US labor market is creating around 200,000 jobs a month, which has brought the unemployment rate tumbling to 5%. Meanwhile, home prices are up and stock prices (GSPC) are near all-time highs.

So, why are there so many people so reluctant to acknowledge how good things are today?

One word: trauma.

“Some people are still recovering from the trauma of what happened in 2007-2008,” President Barack Obama said in an interview with Yahoo Finance’s Nicole Sinclair. “You know, we went through a really scary time.”

Trauma has the ability to distort how we perceive our present reality…

(Editor’s note: Bold added for emphasis)

Just when you thought you’ve heard everything, right?

It gets better. Ro continued:

Consider the joy that comes from jumping on a trampoline or the thrill one gets from speeding downhill on a bicycle. For many folks, the unexpected and painful reality of a nasty spill and a couple of fractured bones will forever take away the bliss that once came from those activities. The trampoline and bicycle will continue to offer the same experience, but the trauma can be so intense that it can force many to keep their feet on the ground.

Losing your job, getting evicted from your home, and watching the value of your retirement savings crash can be deeply distressing. And so even when you get a new job, move into a new home, and recoup all of your investment losses, that new persistent feeling of uncertainty that followed the traumatic will discount everything you have…

Any readers ever see that iconic sports film The Natural, starring Robert Redford? Is it just me, or does all this kind of remind you of that part in the movie where the club hires a shrink to talk to the players when everything is going wrong?


“Losing is a disease”
YouTube Video

No, not that bit where the ballplayer gets hit in the (g)nards. But that “losing is a disease” speech.

And just like Roy Hobbs rolled his eyes and walked out of the locker room, I wouldn’t blame any of you for moving on from this post after reading that stuff about “trauma.”

“Trauma has the ability to distort how we perceive our present reality”

I suspect the “present reality” is crystal-clear for a growing number of Americans- trauma not needed.

And in more than a few instances, their economic “reality” definitely does not match what’s being peddled by Washington and its allies in the mainstream media these days.

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

Source:

Ro, Sam. “Obama uttered a single word that explains so much about America today.” Yahoo! News. 17 Apr. 2016. (https://www.yahoo.com/news/obama-us-economy-americans-recovering-from-trauma-175254482.html). 18 Apr. 2016.

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Peter Schiff: 2008 A ‘Tremor,’ ‘Real Earthquake Is Still In Our Future’

The CEO of Euro Pacific Capital, Peter Schiff, appeared on the Alex Jones Show last Friday. Schiff, who correctly-called last decade’s housing crash and recent global economic crisis, talked about the state of the U.S. economy- and how the 2008 crisis was just a “tremor” before the real earthquake. From their exchange:

JONES: So you think that we may already actually be in a recession.
SCHIFF: All of the indicators, if you look at most of the economic indicators that are out there, they’re flashing recession. I mean, the only thing that isn’t is the low unemployment rate and the jobs that we’re creating. But then when you look beneath the surface, and we’ve discussed this before on your program, when you realize that all the jobs that are being created are low-paying, part-time jobs. The reason there are so many jobs is because people now have two or three. And so if you have three jobs that you count as having- it’s three instead of just one. But they don’t add up to one good, full-time job. And you have lots of people who have left the labor force. And I think one of the reasons the unemployment claims are so low is because so few people are being hired, that not that many people are being fired. You can’t lose a job unless you get a job. And so since we’re really creating so few legitimate jobs, there’s not a lot of people that are collecting unemployment. So this economy is very weak, despite the rosy scenario, the fiction, that the President is trying to paint.

And from later on in the program:

JONES: Speaking of earthquakes, you’re famous for quoting, I mean famous for this quote, “2008 was a tremor for the earthquake that’s coming.” Is that what you’re still saying?
SCHIFF: Yeah and I’ve been saying that all along even before 2008. Because I saw 2008 coming, and unfortunately I also saw how the government would respond to 2008. And they did exactly what I feared they would do, what I warned they would do, and that is exactly why the real earthquake is still in our future- it’s not in our past. And people have to prepare for that. And by the way, silver hit a new high today for this year, for 2016. So people are starting to wake up. It’s happening very slowly, but it’s happening.


“Real Economic Earthquake Is In Our Future, Not Our Past”
YouTube Video

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.)

Peter Schiff’s latest book…

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Quote For The Week

“The question we now have to ask is if technologically it is possible to make an impenetrable device or system where the encryption is so strong that there is no key. There is no door at all. Then how do we apprehend the child pornographer? How do we solve or disrupt a terrorist plot? What mechanisms do we have available to even do simple things like tax enforcement? Because, if in fact you can’t crack that at all- government can’t get in- then everybody is walking around with a Swiss bank account in their pocket…”

-U.S. President Barack Obama, speaking at the South by Southwest (SXSW) festival on March 11, 2016

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

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Peter Schiff: ‘Silver Might Even Be A Better Buy Than Gold’

Euro Pacific Capital CEO Peter Schiff, who correctly-called the housing bust and economic crisis last decade, just published a new entry to his Peter Schiff’s Gold Videocast vlog on YouTube.com. From earlier today:

As long as we have the strength of the dollar, we can continue to borrow money to pay for imports. We can continue to go deeper and deeper into debt. But the minute the illusion runs crashing into reality, and people recognize the situation that we’re in. That we didn’t have a legitimate recovery. That we just had a bubble. And rather than higher interest rates and a real recovery, we’re back in recession. And the Fed is going to try its hardest to blow more air into this bubble. It is not going to work. And this collapse in the dollar today is just the beginning. The dollar has a long way to fall. Not only does it have to reverse all its ill-gotten gains, but it has a long way to go beyond that. Because the problems for the dollar, the fundamentals for the dollar, have gotten worse the entire time the dollar was rallying. And it’s this phony rally in the dollar, it’s this false belief in a higher dollar and higher interest rates, that have wreaked havoc with the emerging markets, with emerging market currencies, with commodities. And all of these markets are going to be able to breathe a huge sigh of relief as the Fed backs away from these rate hikes and the dollar begins to tank. But probably the biggest beneficiary of the Fed’s new easing, this new easing cycle that I think is about to begin, is going to be gold. Gold has fallen for the last few years based on this false belief that everything is great, and we’re going to have a return to normalcy, and the Fed is going to shrink its balance sheet. Nothing could be further from the truth. The balance sheet is about to blow up. We’re going to go up to $10 trillion. The national debt just surpassed $19 trillion officially. It’s going to be $20 trillion by the time Barack Obama leaves office- maybe more. He’s doubled the national debt. The next president will have to double it again in order to keep this house of cards from collapsing. I think it’s impossible to finance- that type of growth in debt. But that’s what this bubble economy needs. Because all of our GDP grows based on debt. It’s not real economic growth. It’s just consumption that’s borrowed. And you need to borrow more and more money to get less and less GDP growth. And we’ve run to the point where we can’t do it anymore. The world is not going to continue to give us a pass. And so gold prices, I think, are going to take off. I think the correction from this long-term bull market is over. And I think gold is going to make new highs. And of course if gold is going to make new highs, so is silver. And so silver might even be a better buy than gold because silver corrected a lot more during the correction. And so it has a lot more lost ground to make up for.


“Fed Blinks: Tightening Financial Conditions Will Derail Rate Hike Expectations”
YouTube Video

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

(Editor’s notes: Info added to “Crash Prophets” page; 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.)

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