Monckton: “Forget the dollar. It is finished."

 

Christopher Monckton of Brenchley – who advised Prime Minister Margaret Thatcher, wrote for the Yorkshire Post, was managing editor of the Telegraph Sunday Magazine and is now a columnist for WND – long has warned that the West is on a terminal financial course, from which recovery eventually will not be possible.

In a recent commentary, he wrote that it’s not a matter of “whether but when.”

More than a year ago, he told WND that the financial collapse of the West was plausible based on its path at the time. He then adjusted the forecast from “plausible” and “likely” to “imminent.”

Specifically, he believes President Obama’s financial policies of unprecedented borrowing and spending, trillion-dollar deficits and massive outlays for social engineering are an “existential threat.”

“The gravy train has now tipped into the gulch. The cash for such criminal indulgences has run out. It is now time for governments everywhere to get a grip on the costs inflicted upon taxpayers by governmental employees at every level. Unless this is done, and very soon, the West will fail,” he said.

Now he’s moved beyond.

More @ WND

Karl Denninger: "I'm Done."

Via Adam

 

In 2007 I began writing The Market Ticker due to the outrageous conduct of various branches in the Administration and portions of the Capital Markets.  Endemic fraud in the financial system that had generated unbridled and outrageous credit creation threatened the collapse of our entire economic system.

The consequence of this should have been thousands of indictments, prosecutions and imprisonments -- of banking executives, of members of Congress, of various executive branch officers in various agencies and more.  The banking system should have been forced to match assets to liabilities and either put up the margin to back their bets or liquidate them -- and if that forced them out of business and collapsed asset prices by 90%, so be it.

Instead our government took the easy way out.  It doubled down on the fraudulent models of the past.

But the models of the past were unsustainable and no amount of gaming arithmetic changes the outcome.  Indeed, the laws of mathematics state that the longer you allow an exponential system to run away from you, the worse the correction to reality you must sustain is.

From 2007 to 2013 the government has grown from $2.7 trillion to $3.68 trillion, a 36% increase. Marketable federal debt has gone from $4.96 trillion to $12 trillion, up 120% (that is, more than a clean double.)

At the same time median family income has dropped from $56,000 to $52,000 in 2013 dollars (that is, adjusted for "inflation"), a roughly 7% decrease.

Oh, and that's before taxes.

Everyone talks about there being a "tsunami" of incoming inflation to be expected.  The real tsunami is government spending and debt and it already happened.  In real-dollar terms the federal government alone is taking from you nearly twice as much today as it was in 2007 and 80% of the minimum-wage-earner's buying power has been destroyed from 1980 to today.

And this is before Obamacare really kicks in.

Then there are the outrageous actions of our government in Benghazi.  What we are covering up there has not yet been determined with accuracy, but we don't need the fine details to understand the essence of the act.  That our tax money was funding terrorists and other bad guys in some form or fashion, and that we were probably providing them weapons is unfortunately pretty-much beyond dispute.

Never mind the outrageous and unconstitutional acts of the NSA in spying on people.

More @ The Market Ticket

Record Numbers in Poverty Under Obama

 

 Newsmax

The median income of American households dropped by $2,627 during President Barack Obama's first term — and the number of people in poverty rose by about 6,667,000, according to a new report from the Census Bureau.

Some 46,496,000 Americans are now in poverty, the highest number ever and a 16.73 percent increase from 2008 when Obama took office.

Overall, 15 percent of Americans are considered to be living in poverty, up from 13.2 percent in 2008.

But the figures are much higher for blacks and Hispanics — 27 percent of blacks and 25.6 percent of Hispanics are living in poverty. The rate for non-Hispanic whites is 9.7 percent.
More than one-fifth of all Americans under age 18 — 21.8 percent — are in poverty, as are 9.1 percent of those 65 and older.

A single individual earning less than $11,270 last year was considered to be in poverty. For two-person households, the threshold is $14,937; for three-person households, $18,284; for a family of four, $23,492.

Last year, the real median household income in America was $51,017, a 4.89 percent drop from 2008. Median income dropped in every year of Obama's first term.

For black households, median income last year was $33,321, according to the report "Income, Poverty and Health Insurance Coverage in the United States," released on Tuesday.

The income and poverty estimates shown in the report are based solely on money income before taxes and do not include the value of noncash benefits, such as those provided by the Supplemental Nutrition Assistance Program, Medicare, Medicaid, public housing, or employer-provided fringe benefits.

Leaked Pentagon Video - Flu Vaccine Proposed to Modify Human Behavior?

Via watchful

TSA To Roll Out “Covert Surveillance” Vans

Via LH

 

In another indication of how the TSA is expanding its turf way beyond airport security, the federal agency is about to roll out high-tech vehicles that will utilize secret technology to conduct “covert surveillance operations” in cities around the country.

According to a synopsis posted on the Federal Business Opportunities website (PDF), the TSA is set to purchase technology to retrofit three vans in Arlington, VA, Chicago, IL, and San Francisco, CA in order to convert them into surveillance vehicles that will “conduct covert surveillance operations in the course of investigations.”

Precisely where such covert surveillance will take place is not mentioned, although in 2010 it was revealed that US government agencies were already using roving street surveillance vans that deployed backscatter x-ray vision technology to inspect other vehicles.

More @ The Sleuth Journal

Addicts

Via Blue

Girls With Guns

Via Ninety Miles From Liberty

Ricochet

Via The Lonely Libertarian

New U.S. mayor sets sights on 'black nation'

  

Good luck, kiddies.

Voters in Jackson, Miss., a mid-sized city in the heart of the Deep South, have picked a Democrat as their mayor. What’s different about this individual is that he is a former leader of the Republic of New Afrika, a group dedicated to creating an independent black nation out of five southern states.

Now leading the city of about 175,000 is Chokwe Lumumba – who has a long history of radical activism and whose plans for the largest city in Mississippi could be called “revolutionary.”

A co-founder of the Malcolm X Grassroots Movement, which promotes black “self-determination,” Lumumba was sworn in on July 1, after winning 86 percent of the vote in the general election.

He had won the Democrat nomination with 54 percent of the vote.

Despite what could be considered an overpowering victory, Jackson’s business owners are extremely concerned with Lumumba’s proposals for the city.

                                                                      More @ WND

Late-Term Abortionist Invites Mother to Hold Aborted Baby

 

 

 Sick

An interview published at The Hairpin gives a disturbing exchange between a late-term abortionist and an interviewer who discuss the new documentary After Tiller, and a scene in which the late-term abortionist encourages the mother to “hold” her aborted baby, and take home its footprints and a “memory box,” as if it were a baby that suffered a normal infant death.

Jia Tolentino interviewed Susan Robinson, one of only four American abortionists who openly perform third-trimester abortions. Robinson is featured in the new documentary After Tiller, which premiered in New York last weekend:

More @ Breitbart