By Pam Martens and Russ Martens: November 1, 2019 ~ Fed Chairman Jerome Powell had a Greenspan moment on Wednesday during his press conference. He made several Goldilocks statements about the banks that are going to come back to haunt him just as former Fed Chairman Alan Greenspan’s Alice in Wonderland remarks to Congress in the leadup to the greatest financial crash since the Great Depression have now made him appear to have been either lying to Congress or dangerously out of touch. It took just a few moments for us to pull up some charts to disprove the statements made by Powell. Powell stated the following during the Q&A portion of the press conference: “So, we monitor financial stability risks very carefully all of the time. It’s what we do since the financial crisis, as I’ve mentioned before. Currently, we don’t see large imbalances. This long expansion is notable … Continue reading
Why do you believe what you believe? Some people have a really solid answer to that question, but much of the population never thinks much about deeper questions such as this. In fact, for most Americans it is simply easier to let others do their thinking for them. Today, most of us spend multiple hours each day absorbing information through a screen, and most of the content that is fed to us through our televisions, phones, tablets and computers is controlled by the elite. And if you allow anyone to feed information into your mind for several hours every day, it is going to have a dramatic impact on how you view the world.
When I was younger, one of my favorite movies was “The Matrix”, and I think that it is a really good metaphor for what is going on in our society today. In the film, nearly the entire human population was plugged into a system which continuously fed a computer-generated reality into their minds that wasn’t real at all. Later on, I eventually came to realize that we are willingly doing the same thing to ourselves. Our personal interactions with one another are extremely limited, but we willingly “plug in” to the enormous matrix of news, information and entertainment that the elite have constructed for many hours each day.
According to numbers that were released earlier this year, the average American spends more than three hours watching television and more than three hours on mobile devices every single day…
It’s official: This year marks the first time that Americans will spend more time staring down at their phones and tablets than they will watching television.
The average U.S. adult will spend three hours and 43 minutes on mobile devices this year, according to EMarketer Inc., which is eight minutes longer than the three hours and 35 minutes that will be spent in front of the TV.
If Americans from previous generations could visit our society right now, they would probably be horrified that we are all constantly staring at our screens like some sort of zombies.
And perhaps it wouldn’t be so bad if we were feeding our minds healthy things, but instead most of what we are absorbing is garbage that has been produced by the elite.
Today, nearly all of the news, information and entertainment that Americans consume is produced by a small cluster of giant corporations. The following summary of the current state of affairs comes from Wikipedia…
In the United States, movie production has been dominated by major studios since the early 20th century; before that, there was a period in which Edison’s Trust monopolized the industry. The music and television industries recently witnessed cases of media consolidation, with Sony Music Entertainment‘s parent company merging their music division with Bertelsmann AG’s BMG to form Sony BMG and Tribune’s The WB and CBS Corp.’s UPN merging to form The CW. In the case of Sony BMG, there existed a “Big Five” (now “Big Four“) of major record companies, while The CW’s creation was an attempt to consolidate ratings and stand up to the “Big Four” of American network (terrestrial) television (this despite the fact that the CW was, in fact, partially owned by one of the Big Four in CBS). In television, the vast majority of broadcast and basic cable networks, over a hundred in all, are controlled by eight corporations: Fox Corporation, The Walt Disney Company (which includes the ABC, ESPN, FX and Disney brands), National Amusements (which includes CBS Corporation and Viacom), Comcast (which owns NBCUniversal), AT&T (which owns WarnerMedia), Discovery, Inc., E. W. Scripps Company, Cablevision (now known as Altice USA), or some combination thereof.
When you have an almost totally monopoly on news, information and entertainment, it is not too difficult to manipulate a society. At this point, most of the population is made up of extremely pliable “NPCs” that are more than happy to go along with whatever “societal norms” are set by the elite. The term “sheeple” has been used to describe those that allow the elite to do their thinking for them, and we need to do what we can to help those individuals wake up and to get them to start thinking for themselves.
Let me give you an example of the immense power of the media. One recent survey found that those that watch Fox News tend to think that the U.S. economy is in great shape, while those that watch MSNBC tend to be quite pessimistic about the economy…
American voters face the same set of economic facts, from low unemployment to the risks from a trade war, but the survey’s index of overall sentiment – at 108 just above the 100 line that separates positive from negative impressions of the economic outlook – masked the huge divide between those who approve of Trump, whose views measured a far rosier 136, and those who disapprove of the president, with a reading of 88.
The results, weighted by factors like age, race and sex, to be nationally representative, were similarly skewed based on media consumption. Viewers of conservative-leaning Fox News registered 139 for current sentiment about the economy; viewers of MSNBC, an outlet often critical of Trump, registered 89. Readers of the New York Times sat in the middle at 107, near those who get their news from Facebook (110) and Twitter (112).
But the truth is somewhere in between. We haven’t officially had a recession in recent years, but the U.S. economy has definitely not been “booming” either. In fact, we haven’t had a full year of 3 percent GDP growth since the middle of the Bush administration. That is the longest stretch of slow growth in American history by a very wide margin, and now it appears that the next recession is rapidly approaching.
And without a doubt, tens of millions of American families are deeply struggling right now. As I noted yesterday, 50 percent of all American workers make less than 33,000 dollars a year, and a survey that was just released found that 70 percent of Americans “have cried about money”…
Pass along the tissues, because Americans aren’t afraid of letting the tears roll when it comes to finances.
Seven in 10 Americans said they have cried about money in their lifetimes, according to a recent online survey of 1,004 Americans by Compare Cards.com. Many cited worries over their job or making ends meet.
And household debt, which peaked at $13.86 trillion in the second quarter, weighed the heaviest on Americans. Almost a third admitted to crying over this looming concern, according to the survey.
One of the reasons why my articles upset so many people is because I just don’t follow the herd.
In this day and age, it is absolutely imperative that we all learn to think for ourselves. Because if you don’t actively take control, the elite will be more than happy to do your thinking for you.
Question everything. Everyone that is feeding you news, information and entertainment has an agenda, and in most cases it is not a positive agenda.
We are in a battle for hearts and minds, and the elite have an overwhelming edge because of the colossal system that they have created.
But we have the truth on our side, and in the end the truth shall prevail.
About the Author: I am a voice crying out for change in a society that generally seems content to stay asleep. My name is Michael Snyder and I am the publisher of The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I have written four books that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned) By purchasing those books you help to support my work. I always freely and happily allow others to republish my articles on their own websites, but due to government regulations I can only allow this to happen if this “About the Author” section is included with each article. In order to comply with those government regulations, I need to tell you that the controversial opinions in this article are mine alone and do not necessarily reflect the views of the websites where my work is republished. This article may contain opinions on political matters, but it is not intended to promote the candidacy of any particular political candidate. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. Those responding to this article by making comments are solely responsible for their viewpoints, and those viewpoints do not necessarily represent the viewpoints of Michael Snyder or the operators of the websites where my work is republished. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help.
The post What You Think Is Controlled By What You Watch, And What You Watch Is Controlled By The Elite appeared first on The Economic Collapse.
By Pam Martens and Russ Martens: September 26, 2019 ~ Editors’ Note: We have a news flash for our reporting colleagues at mainstream media – you are missing high drama and great quotes by failing to cover the Wall Street-related hearings being held regularly by the House Financial Services Committee. This Committee is dead serious about holding Federal regulators and Wall Street banks’ collective feet to the fire. After more than 30 years of watching congressional hearings covering Wall Street, we have to commend the Chair of this Committee, Maxine Waters, and the individual Congressmen and Congresswomen who serve on this Committee for their outstanding knowledge of how Wall Street has erected an elaborate and highly efficient wealth transfer system from the poor and middle class of America to the pockets of the one percent. ~~~ On Tuesday, September 24, 2019, the U.S. House of Representatives’ Financial Services Committee, chaired … Continue reading
By Pam Martens and Russ Martens: September 24, 2019 ~ Last Friday the Federal Reserve Bank of New York made it clear that its interventions in the overnight repo lending market were going to be a longer-term action. Call it what you will, the Fed has effectively returned to quantitative easing (QE) where it buys up Treasuries, Federal agency debt and agency mortgage-backed securities (MBS) from financial institutions in exchange for loans. According to the New York Fed, the program has now been extended to at least October 10 and likely thereafter in one form or another. The Fed will be pumping in $75 billion daily in overnight repo loans while infusing $30 billion in 14-day term loans three times this week for a total of $90 billion in term loans. The fact that there is one or more financial firms needing $30 billion on a two-week basis and can’t … Continue reading
Schiff: The Next Crash Will Bring Down The Fiat Money System
Peter Schiff appeared on RT Boom Bust on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession.
The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and Wall Street are being much too complacent about what’s going on.
Their instinct is to sweep it under the rug as no big deal, but I think it really is a harbinger of what’s to come.”
Peter noted that the Fed has been artificially suppressing interest rates, particularly since the 2008 financial crisis.
And by keeping interest rates artificially low, they have created a bubble that’s much bigger than the one that popped in 2008. And what happened this morning is you could see the air coming out of that bubble, because the market is trying to bring interest rates higher because we have no real savings in this country. We have enormous debt. Everybody is levered up to the max — government, the private sector, business, consumers — because rates have been so low, we’ve borrowed so much money. The market wants interest rates to be higher but the Fed doesn’t want that to happen because the road back to normal interest rates is a very bumpy one because it’s going to take us right through another financial crisis. So, the Fed is trying to keep interest rates artificially low and they almost lost control of it this morning. (more…)
Trader: “Don’t Give Away Your Crude Gamma Too Cheaply”
First of all, let me address the elephant in the room. I apologize for the lack of posts over the past few months. For the many who sent kind notes letting me know how much they enjoy the letter and hoping they will resume, I thank you. For those who have complained, I remind them that unsatisfied customers are entitled to full refund and to contact your MacroTourist national sales desk representative. But before you ask for your nil cheque, please be assured that I intend to return to my regular writing schedule and hopefully you will be more satisfied going forward.
Now, onto the fun market stuff!
I had planned to write about a boring economic topic, but with this weekend’s attack on Saudi Arabian energy assets, I interrupt regularly scheduled programming to address the topic on everyone’s lips.
No need to rehash the news. By now everyone is aware of the details.
The development definitely caught the market flat-footed. Brent crude (which is more vulnerable to Saudi production shortfalls) gapped up almost $12 Sunday night.
By Pam Martens and Russ Martens: September 16, 2019 ~ According to the amended prospectus filed with the Securities and Exchange Commission to alert the public to the thousands of warts with malignant possibilities sprouting out of the office rental company, WeWork, which plans to offer its shares to the public for the first time, JPMorgan Chase will receive something no other underwriter is getting in this deal: a cool $50 million extra as a “structuring fee.” On top of that, of course, the bank will also get the fat underwriting fees that the other banks involved in the IPO get. That’s just one of the many curious ways that JPMorgan Chase stands out in its relationship with WeWork. (The parent of WeWork, The We Company, is actually offering the shares to the public.) As it turns out, quite a few of JPMorgan Chase’s commercial real estate clients who have … Continue reading
World renown author and forecaster Marc Faber's [Tomorrow's Gold: Asia's age of discovery, Riding the Millennial Storm: Marc Faber's Path to Profit in the Financial Markets,The Great Money Illusion; The Confusion Of The Confusions] latest take on the situation:
Millennials Never saw The American Prosperity .
In his Monthly Market Commentary dated on September 1, 2019 ,Doctor Marc Faber wrote quote :
Sydney Williams writes about a new book, The Pioneers by David McCulloch, which follows several families that founded in 1784 the “the Ohio Company of…
[[ This is a content summary Only. Please Visit http://www.marcfabernews.com or the other Marc Faber Blog http://faber-blog.blogspot.com for the full story, >>>>]]
The Middle East War Begins: Netanyahu Warns There Is “No Other Choice But To Embark On A Wide Scale Campaign In Gaza”
With elections looming on Tuesday, Israeli Prime Minister Benjamin Netanyahu is warning that Israel has “no other choice” other than to invade Gaza in order to overthrow the Hamas regime in power there. In fact, the Jerusalem Post is reporting that on Friday Netanyahu said that war “could happen at any moment”. The Prime Minister and other Israeli officials are sick and tired of rockets being constantly fired into Israel, and they have come to the conclusion that a peaceful resolution with Hamas is simply not possible. Here in the United States many on the left will criticize Israel for taking military action, but how long would any U.S. president wait before taking military action against a terror group that was firing missiles at us? The truth is that Israel has been exceedingly patient with the situation in Gaza, but now the time for patience has run out.
In recent days, Netanyahu has made it exceedingly clear what is about to happen. Here is one example from the Jerusalem Post…
Prime Minister Benjamin Netanyahu warned on Thursday that Israel may have no choice but to embark on a military operation in Gaza to overthrow Hamas.
“It looks like there will be no other choice but to embark on a wide scale campaign in Gaza,” Netanyahu said in an interview with Kan Reshet Bet Radio shortly before he boarded a flight to Moscow where he is expected to meet with Russian President Vladimir Putin.
And here is another quote where he essentially says the exact same thing…
“There probably won’t be a choice but to topple the Hamas regime. Hamas doesn’t exert its sovereignty in the Strip and doesn’t prevent attacks,” he said. “We have a situation in which a terror group that launches rockets has taken over, and doesn’t rein in rogue factions even when it wants to.”
Netanyahu’s comments also came two days after a campaign rally in the southern city of Ashdod was interrupted by incoming rocket sirens after rockets were fired from the Hamas-run Gaza Strip.
I am not sure how Netanyahu could be any clearer. Here is a third example…
“I do not wage war unless it is a last resort and I don’t risk the lives of our soldiers and citizens just to get applause,” Netanyahu said in an interview with Kan Reshet Bet Radio. “We will probably have no choice but to set out on a big campaign, a war against the terror forces in Gaza.”
“I won’t start it one minute before we are ready, and we are preparing for a `different war’,” he added, shortly before flying to Russia for a meeting with President Vladimir Putin.
Israeli Prime Minister Benjamin Netanyahu always chooses his words very carefully. He is a gifted communicator, and we have never seen him talk quite like this before.
In the past, Israel has responded to rocket attacks from Gaza by conducting targeted airstrikes, and this is something that we witnessed yet again on Wednesday…
Early Wednesday, Israeli jets launched air strikes on 15 targets belonging to the Hamas terror group, which rules the Gaza Strip, in response to the rockets fired at Ashdod and Ashkelon, which were intercepted by the Iron Dome air defense system, according to the IDF.
But it has become clear that airstrikes will never be enough to permanently stop the rocket attacks, and so the Israeli government is preparing to initiate a major ground operation inside Gaza.
Of course this could potentially spark a much wider regional war. Israel and Hezbollah have literally been on the brink of war for months, and so if a major conflict erupts it is easy to envision Hezbollah jumping in to aid their allies in the south.
Right now, Hezbollah has approximately 150,000 missiles pointed at Israel, and their troops are battle-hardened after fighting for many years in Syria.
And if Israel and Hezbollah go to war, there is a very strong possibility that Iran could get involved as well.
Basically we are just a hop, skip and jump away from a cataclysmic war in the Middle East, and this is one of the reasons why Israel has shown so much restraint.
But at some point action must be taken. No nation is going to allow terrorist organizations to keep firing rockets at their citizens indefinitely, and the Israeli government has had enough.
As IDF Chief of Staff Lt. Gen. Aviv Kochavi recently stated, there is “a moral obligation to defend the nation’s citizens against the armies of terrorism that surround them”…
“The changes in the enemy demand that the IDF make changes and adjust its forces and methods of warfare, so urban areas cannot shield the enemy. The firepower the enemy will encounter in the next war will be unprecedented, and a country that allows terrorism to entrench itself in its territory will be seen as responsible for it, and suffer the consequences,” Kochavi warned.
“The IDF has a moral obligation to defend the nation’s citizens against the armies of terrorism that surround them. When the Israeli homefront is under threat by thousands of missiles and rockets, we won’t hesitate to strike a massive blow to eradicate those threats. We will attack and preserve our values, but a main tenet of those values is the need to protect our citizens,” he said.
Personally, I doubt that the Israeli military operation will happen before the election on Tuesday, but I could be wrong.
And let us also hope that it can be postponed until after the upcoming Jewish holidays.
But it is coming, and once Israeli tanks roll into Gaza everything will change. Global events are about to accelerate significantly, and so many of the things that we have been watching for are about to happen.
Both sides have been preparing for this war for a very long time, and the death and destruction will be immense.
Things are eerily quiet for the moment, but the fighting will soon commence, and when it does this will become the biggest news story on the entire planet.
About the author: Michael Snyder is a nationally-syndicated writer, media personality and political activist. He is the author of four books including Get Prepared Now, The Beginning Of The End and Living A Life That Really Matters. His articles are originally published on The Economic Collapse Blog, End Of The American Dream and The Most Important News. From there, his articles are republished on dozens of other prominent websites. If you would like to republish his articles, please feel free to do so. The more people that see this information the better, and we need to wake more people up while there is still time.
Bernie Sanders Says in Last Night’s Debate that Richest 3 Americans Own More Wealth than Bottom 160 Million Americans. It’s Actually Worse than That.
By Pam Martens and Russ Martens: September 13, 2019 ~ During last evening’s Democratic debate, Senator Bernie Sanders said this: “You’ve got three people in America owning more wealth than the bottom half of this country.” According to Politifact, Sanders is basing this claim on a 2017 study done by the Institute for Policy Studies which put the richest three Americans’ wealth as follows (based on the Forbes list of billionaires at that time): Bill Gates of Microsoft with $89 billion; Jeff Bezos of Amazon with $81.5 billion; and Warren Buffett of Berkshire Hathaway with $78 billion — for a total of $248.5 billion. That wealth figure contrasts with the $245 billion owned by the bottom 50 percent of Americans according to the 2016 Survey of Consumer Finances conducted by the Federal Reserve. (The Fed’s survey is conducted every three years and the 2019 study has not yet been released.) But … Continue reading