Chris Martenson
Danielle DiMartino Booth, former analyst at the Federal Reserve Bank of Dallas, has just released the book Fed Up: An Insider's Take On Why The Federal Reserve Is Bad For America.
In it, Danielle describes how the Federal Reserve is controlled by 1,000 PhD economists and run by an unelected West Coast radical with no direct business experience. The Fed continues to enable Congress to grow our nation’s ballooning debt and avoid making hard choices, despite the high psychological and monetary costs. And our addiction to the "heroin" of low interest rates is pushing our economy towards yet another collapse.
This reckless monetary policy pursued by the Fed has resulted in the rich elite becoming markedly richer, while savers and retirees are being absolutely gutted. All while risking a coming conflagration in the bond markets that will destroy a painful percentage of the world's financial wealth:
Danielle DiMartino Booth: An Insider Exposes The Evils Of The Fed
Danielle DiMartino Booth, former analyst at the Federal Reserve Bank of Dallas, has just released the book Fed Up: An Insider's Take On Why The Federal Reserve Is Bad For America.
In it, Danielle describes how the Federal Reserve is controlled by 1,000 PhD economists and run by an unelected West Coast radical with no direct business experience. The Fed continues to enable Congress to grow our nation’s ballooning debt and avoid making hard choices, despite the high psychological and monetary costs. And our addiction to the "heroin" of low interest rates is pushing our economy towards yet another collapse.
This reckless monetary policy pursued by the Fed has resulted in the rich elite becoming markedly richer, while savers and retirees are being absolutely gutted. All while risking a coming conflagration in the bond markets that will destroy a painful percentage of the world's financial wealth:
In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:
- Trouble In Europe
- The end of the Eurozone experiment may be nigh
- Our Justice System
- Where to the Supreme Court?
- Trump's Shake Up
- Will he make it 4 full years?
- Gold Strength
- The metal and the miners are looking better
Mish returns this week to discuss the brewing stormclouds in Europe. As nationalist candidates gain popularity, growth slows, refugee challenges persist, and friction with the US builds, the binds between the countries in the Eurozone are weakening quickly.
Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.
Off The Cuff: Trouble Returns To Europe
PREVIEWIn this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:
- Trouble In Europe
- The end of the Eurozone experiment may be nigh
- Our Justice System
- Where to the Supreme Court?
- Trump's Shake Up
- Will he make it 4 full years?
- Gold Strength
- The metal and the miners are looking better
Mish returns this week to discuss the brewing stormclouds in Europe. As nationalist candidates gain popularity, growth slows, refugee challenges persist, and friction with the US builds, the binds between the countries in the Eurozone are weakening quickly.
Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.
Economist and cycle trend forecaster Harry Dent sees crushing deflation ahead for nearly every financial asset class. We are at the nexus of a concurrent series of downtrends in the four most important predictive trends he tracks.
Laying out the thesis of his new book The Sale Of A Lifetime, Dent sees punishing losses ahead for investors who do not position themselves for safety beforehand. On the positive side, he predicts those that do will have a once-in-a-generation opportunity to buy assets at incredible bargain prices once the carnage ends (and yes, for those of you wondering, he also addresses his outlook for gold).
Harry Dent: Stocks Will Fall 70-90% Within 3 Years
Economist and cycle trend forecaster Harry Dent sees crushing deflation ahead for nearly every financial asset class. We are at the nexus of a concurrent series of downtrends in the four most important predictive trends he tracks.
Laying out the thesis of his new book The Sale Of A Lifetime, Dent sees punishing losses ahead for investors who do not position themselves for safety beforehand. On the positive side, he predicts those that do will have a once-in-a-generation opportunity to buy assets at incredible bargain prices once the carnage ends (and yes, for those of you wondering, he also addresses his outlook for gold).
Executive Summary
- Why most of those around you will not prepare, despite the obvious risks
- Why the risks are bigger now than most realize
- Positioning yourself ahead of the trend
- The steps for prudent preparation
If you have not yet read Part 1: When The Rich Become Preppers, It’s Time To Worry available free to all readers, please click here to read it first.
People Aren’t Rational
Unfortunately, very few people make decision based on logic and/or rational calculations. Most go by emotion. If their pre-existing belief system is confirmed by something they will do it (or buy it, or learn it) but if not, then forget it. Data doesn’t matter.
I am sure you’ve all encountered this in your own lives, perhaps by trying to spread the warnings of The Crash Course to otherwise intelligent, thoughtful people who somehow just cannot even bring themselves to confront the troubling data.
Not because they are unable intellectually, or even that the data is all that troubling, but usually because their belief system cannot digest the information contained therein. One of the more dominant belief systems out there is that “the government will take care of me/us.”
This is not at all surprising given that we are raised in a very structured and authoritarian educational system. Most of us that is. The repetition of believing that a right answer always exists at the front of the room subtly reinforces the idea that you can trust in the hierarchies present in your culture.
And so it’s not much of a stretch to then invest that same comfort of knowing in the hierarchy of the political structure, or government, too. To attack or undermine the idea that there is a large, benevolent set of public institutions out there is to undermine the very basis of faith in authority.
That’s a biggie for most people, and not easily dislodged. This is why it can be so difficult to get someone to even consider storing an extra months’ worth of food in their otherwise barren pantry. It has nothing to do with cost or space…it has to do with the new belief system that would have to be installed first which is something along the lines of “maybe the system I trust so completely is slightly untrustworthy, and the people operating are not really as in control of it as I like to think.”
And even then, it’s not that simple. Dislodging a belief system and installing a new one is not an intellectual process, but an emotional one. Those are expensive for people under even the best of circumstances but really quite difficult if one lives in a country where emotions are clamped down, not permitted, drugged away, or otherwise subjugated and not allow to flow freely.
The point of all this is to be able to rotate the cube a bit and ask what happens when a mass of people suddenly all decide that their existing belief system isn’t working out anymore?
The herd is now skittish as a result of the tensions which are, in my experience, as high as they have ever been across the social fabric.
Rich people are feeling nervous because…
Preparing Prudently
PREVIEWExecutive Summary
- Why most of those around you will not prepare, despite the obvious risks
- Why the risks are bigger now than most realize
- Positioning yourself ahead of the trend
- The steps for prudent preparation
If you have not yet read Part 1: When The Rich Become Preppers, It’s Time To Worry available free to all readers, please click here to read it first.
People Aren’t Rational
Unfortunately, very few people make decision based on logic and/or rational calculations. Most go by emotion. If their pre-existing belief system is confirmed by something they will do it (or buy it, or learn it) but if not, then forget it. Data doesn’t matter.
I am sure you’ve all encountered this in your own lives, perhaps by trying to spread the warnings of The Crash Course to otherwise intelligent, thoughtful people who somehow just cannot even bring themselves to confront the troubling data.
Not because they are unable intellectually, or even that the data is all that troubling, but usually because their belief system cannot digest the information contained therein. One of the more dominant belief systems out there is that “the government will take care of me/us.”
This is not at all surprising given that we are raised in a very structured and authoritarian educational system. Most of us that is. The repetition of believing that a right answer always exists at the front of the room subtly reinforces the idea that you can trust in the hierarchies present in your culture.
And so it’s not much of a stretch to then invest that same comfort of knowing in the hierarchy of the political structure, or government, too. To attack or undermine the idea that there is a large, benevolent set of public institutions out there is to undermine the very basis of faith in authority.
That’s a biggie for most people, and not easily dislodged. This is why it can be so difficult to get someone to even consider storing an extra months’ worth of food in their otherwise barren pantry. It has nothing to do with cost or space…it has to do with the new belief system that would have to be installed first which is something along the lines of “maybe the system I trust so completely is slightly untrustworthy, and the people operating are not really as in control of it as I like to think.”
And even then, it’s not that simple. Dislodging a belief system and installing a new one is not an intellectual process, but an emotional one. Those are expensive for people under even the best of circumstances but really quite difficult if one lives in a country where emotions are clamped down, not permitted, drugged away, or otherwise subjugated and not allow to flow freely.
The point of all this is to be able to rotate the cube a bit and ask what happens when a mass of people suddenly all decide that their existing belief system isn’t working out anymore?
The herd is now skittish as a result of the tensions which are, in my experience, as high as they have ever been across the social fabric.
Rich people are feeling nervous because…
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