wealth redistribution

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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Thursday, December 1st, 2016 Asia, Bonds, Civil Strife, Class Warfare, Crash Prophets, Currencies, Defaults, Europe, Government, Immigration, North America, Political Parties, Revolution, Stocks, Wall Street, War, Wealth Comments Off on Martin Armstrong: ‘The United States Will Most Likely Break Apart By 2036’

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

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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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Wednesday, March 9th, 2016 Government, Humor, Political Parties, Signs Of The Time, Socialism Comments Off on Signs Of The Time, Part 96

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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Friday, May 22nd, 2015 Debt Crisis, Fiscal Policy, Government, Political Parties, Socialism, Spending, Taxes, Wealth Comments Off on Illinois Tax Hikes Coming Warn Municipal Bond Fund Managers

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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Sunday, March 1st, 2015 Main Street, Quote For The Week, Socialism, Wealth Comments Off on Quote For The Week

Quote For The Week

“A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government…”

-Thomas Jefferson (3rd U.S. President and “Founding Father,” in his March 4, 1801, inaugural address)

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

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Sunday, January 18th, 2015 Government, Quote For The Week, Socialism, Wealth Comments Off on Quote For The Week

4 Out Of 5 U.S. Adults Suffer ‘Economic Insecurity’ During Their Lives

Quite a few financial news websites I dropped by this weekend were buzzing about a just-released Associated Press article that said 4 out of 5 American adults wrestle with “economic insecurity” during their lives. From the CBS News website yesterday:

Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.

According to the AP piece, economic insecurity is defined as “a year or more of periodic joblessness, reliance on government aid such as food stamps or income below 150 percent of the poverty line.” The risk is currently at 79 percent, but the current widening income inequality gap suggests that by 2030, close to 85 percent of working-age adults will experience such hardship.

In addition, the AP article talked about poverty America today. According to the Associated Press:

Nationwide, the count of America’s poor remains stuck at a record number: 46.2 million, or 15 percent of the population, due in part to lingering high unemployment following the recession.

Seeing as that this article comes on the heels of Barack Obama’s “A Better Bargain for the Middle Class” speech on middle-class America’s woes last week, instead of it being an indictment of the President’s economic policies as some have claimed, perhaps its real purpose is to provide more ammunition to the White House for a renewed push on economic initiatives they’ve been championing for a while, such as wealth redistribution.

An interesting article, which you can read here on the CBS News website.


“When you spread the wealth around, it’s good for everybody” (1:47)
“‘Joe the Plumber’” Becomes Focus of Debate”
YouTube Video

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

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Monday, July 29th, 2013 Demographics, Employment, Fiscal Policy, Government, Income, Main Street, Manufacturing, Poverty, Recession, Taxes, Wealth Comments Off on 4 Out Of 5 U.S. Adults Suffer ‘Economic Insecurity’ During Their Lives

Quote For The Week

For four and a half years, Mr. Obama has focused his policies on reducing inequality rather than increasing growth. The predictable result has been more inequality and less growth. As even Mr. Obama conceded in his speech, the rich have done well in the last few years thanks to a rising stock market, but the middle class and poor have not. The President called his speech “A Better Bargain for the Middle Class,” but no President has done worse by the middle class in modern times… If only Mr. Obama understood that before a government can redistribute wealth, the private economy has to create it.

-The Wall Street Journal, commenting on a speech President Obama gave while visiting Knox College in Galesburg, Illinois, on July 24

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

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Monday, July 29th, 2013 Business, Demographics, Fiscal Policy, Government, Income, Main Street, Quote For The Week, Stocks, Wealth Comments Off on Quote For The Week

U.S. Poverty Could Soon Reach Highest Level Since 1965

Here’s a dismal forecast for you from a number of practitioners of the “dismal science” as it concerns poverty in America. The Associated Press’ Hope Yen reported early this morning:

The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net.

Census figures for 2011 will be released this fall in the critical weeks ahead of the November elections.

The Associated Press surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest level since 1965

(Editor’s note: Italics added for emphasis)

To illustrate how big a problem poverty is in the United States these days, according to a Reuters piece last September 14:

A record 46 million Americans were living in poverty in 2010, pushing the US poverty rate to its highest level since 1993, according to a government report on the grim effects of stubbornly high unemployment.

Underscoring the economic challenges that face President Barack Obama and Congress, the US census bureau said the poverty rate rose for a third consecutive year to hit 15.1% in 2010. The number of people in poverty was the largest since the government first began publishing estimates, in 1959…

The US has the highest poverty rate among developed countries, according to the Paris-based Organisation for Economic Cooperation and Development (OECD)…

(Editor’s note: Italics added for emphasis)

Expect more calls for a larger social safety net- and redistribution of wealth from the rich to the poor- in the coming months.

Sources:

Yen, Hope. “US poverty on track to rise to highest since 1960s.” Associated Press. 23 July 2012. (http://www.google.com/hostednews/ap/article/ALeqM5jO5m8lWaTaYXjbnvHls3cCFBCQ7g?docId=66ae43449eda438793065dfdaee2935f). 23 July 2012.

“American poverty levels hit record high.” Reuters. 14 Sep. 2011. (http://www.guardian.co.uk/world/2011/sep/14/us-poverty-levels-record-high). 23 July 2012.

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Monday, July 23rd, 2012 Employment, Entitlements, Main Street, Poverty, Socialism, Wealth Comments Off on U.S. Poverty Could Soon Reach Highest Level Since 1965
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