NEVER UNDERESTIMATE DEEP STATE ROTTENESS

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He Said That? 2/23/17

From Ronald Reagan (1911-2004), American politician and actor, 40th President of the United States, First Inaugural Address (1981):

In this present crisis, government is not the solution to our problem; government is the problem. From time to time we’ve been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people. Well, if no one among us is capable of governing himself, then who among us has the capacity to govern someone else?

California, Nestle and Decentralization, by Antonius Aquinas

California is driving out businesses and productive people with its onerous taxes and regulation, but California’s liberals assume everything will turn out okay, because things are always golden in the Golden State. Until they don’t. From Antonius Aquinas on a guest post at theburningplatform.com:

Nestle USA has announced that it will move its headquarters from Glendale, California, to Rosslyn, Virginia, taking with it about 1200 jobs. The once Golden State has lost some 1600 businesses since 2008 and a net outflow of a million of mostly middle-class people from the state from 2004 to 2013 due to its onerous tax rates, the oppressive regulatory burden, and the genuine kookiness which pervades among its ruling elites.* A clueless Glendale official is apparently unconcerned about the financial repercussions of Nestle’s departure saying that it was “no big deal” and saw it as an “opportunity,” whatever that means!

The stampede of businesses out of what was once the most productive and attractive region in all of North America demonstrates again that prosperity and individual freedom are best served in a political environment of decentralization.

That the individual states of America have retained some sovereignty despite the highly centralized “federal” system of government of which they are a part has enabled individuals and entrepreneurs living in jurisdictions that have become too tyrannical to “escape” to political environments which are less oppressive. This, among other reasons (mainly air conditioning), led to the rise of the Sun Belt as people sought to escape the high taxes and regulations of the Northeast to less burdensome (and warmer!) southern destinations.

This can also be seen on a worldwide scale. The US, for a long time, had been a haven of laissez-faire economic philosophy, which, not surprisingly, became a magnet for those seeking opportunity and a higher standard of living. No longer is this the case as increasing numbers of companies and individuals are seeking to avoid American confiscatory tax and regulatory burdens and move “offshore” or expatriate to more favorable economic climates.

To continue reading: California, Nestle and Decentralization

A Budget without Russians: The Empire’s Nightmare, by Fred Reed

Fred Reed laments the absurdity of the present hysteria about Russia. From Reed on a guest post at theburningplatform.com:

Methinks the insane hysteria over Russia needs to stop. It probably will not. For reasons of domestic and imperial politics the American public is again being manipulated into a war frenzy by Washington and New York. It is stupid, without justification, and dangerous.

The silliness over Russia is, obviously, part of the Establishment’s drive to get rid of Trump. Yes, the man is erratic, contradictory, shoots before he aims, backs off much of what he has promised, and may be unqualified as President–but that is not why Washington and New York want to get rid of him. It is about money and power, as is everything in the United States. Wall Street, the Pentagon, the Neocons, and the Empire run America. Trump has threatened their rice bowls.

Consider:

He has threatened to cut the F-35, a huge blow to Lockheed-Martin and hundreds of subcontractors; to pull US troops out of South Korea, a blow to the Empire; to end the wars, a blow both to the Empire and the military industry getting rich from them; to pull troops out of Okinawa, crippling the Empire in the Pacific; to start a trade war with China with a forty-five percent tariff of Chinese goods, threatening American corporations with factories there; and to chase out illegal immigrants, an important source of cheap labor to businesses. He has called NATO “obsolete,” when leaving it would be the death knell of the Empire; and threatened to establish good relations with Russia, when the lack of a European enemy would leave NATO even more obviously unnecessary.

Thus New York and its branch operation in Washington resuscitate Russia as a bugbear to terrify the rubes,meaning most of the public. Money. Power. Empire.

To continue reading: A Budget without Russians: The Empire’s Nightmare

Women Go Viral After Closing Their Accounts at Nordstrom in Support of Ivanka Trump, by Elise Sole

Nordstrom’s may or may not have caved to political pressure when it terminated Ivanka Trump merchandise in its store, but a group of women decided to exercise one of the few freedoms left in America: the right not to patronize a business. Oh, wait a minute, if you choose not to patronize medical insurance providers, under Obamacare you can be fined by the IRS. Well, scratch that freedom, but at least Obamacare doesn’t extend to retail department stores. From Elise Solé at yahoo.com (we’re surprised this was published by Yahoo):

Over the past few weeks, multiple brands have dropped the Ivanka Trump label in protest of her father’s policies. Yet, as most clearly evidenced by a video shared by Laurie Ray on Facebook, the first daughter still has her supporters.

Ray, along with Sara Salazar Williams, Jeannie Petersen Guthrie, Natalie Poulsen Germaine, Krysta Noel Price, and Amy Llewelyn, recently went to Nordstrom to cancel their accounts with the company. “Dumped #Nordstrom today for Dumping Ivanka! This is how it went down… #byenordstrom #buyivanka,” reads the caption of the video, which has received 1.2 million views and nearly 18,000 shares since it was posted Wednesday.

The group, wearing matching T-shirts with a black-and-white photo of President Trump and “Haters Gonna Hate” on it, visited a Nordstrom store in Chandler, Ariz., and filmed their experience canceling their accounts with the department store. “Because they caved, no money for Nordstrom,” one of the women said. “Headed to Dillard’s to buy all kinds of stuff,” another said.

“I was actually a former employee for a number of years and I’ve been shopping at Nordstrom’s for 30 years, and because of your decision to drop Ivanka Trump, I will no longer shop at your store, nor will my husband or our nine children or our eight grandchildren,” Ray was captured saying to customer service.

To continue reading: Women Go Viral After Closing Their Accounts at Nordstrom in Support of Ivanka Trump

Should Trump “Unleash” Wall Street? by Bill Bonner

Wall Street is a perfect case study in how an industry deteriorates in a mixed economy. From Bill Bonner at bonnerandpartners.com:
LOVINGSTON, VIRGINIA – Stocks show little movement. Investors are waiting for something to happen.

And wondering…

Corporate earnings have been going down for nearly three years. They are now about 10% below the level set in the late summer of 2014.

Unleashing Wall Street

Why should stocks be so expensive?

Oh, yes… because the Trump Team is going to light a fire under Wall Street.

But they must be wondering about that, too.

Raising up stock prices – as we’ve seen over the last eight years – is not the same as restoring economic growth and family incomes.

And as each day passes, the list of odds against either seems to be getting longer and longer. As the petty fights, silly squabbles, and tweet storms increase, the less ammunition the administration has available to fight a real battle with Congress or the Deep State.

Still…

“Goldman Stock Hits Record on Bets Trump Will Unleash Wall Street,” reads a Bloomberg headline.

Goldman Sachs is a pillar of the Establishment, with its man, Steve Mnuchin, heading the Department of the Treasury. So a win for Goldman is not necessarily a win for us.

“Unleashing” suggests a win-win deal, as in allowing the financial industry to get on with its business. But there are different kinds of “unleashings.”

Some things – like Dobermans – are kept on a leash for a good reason. Unleashing the mob… or a war… might not be a good idea, either.

Untying Wall Street from bureaucratic rules is at least heading in the right direction. But it will only benefit the Main Street economy if Wall Street is doing business honestly, facilitating win-win deals by matching real capital up with worthy projects.

Deep State Industry

That, of course, is what it is NOT doing. It is a Deep State industry aided and abetted by the Fed’s fake money.

To continue reading: Should Trump “Unleash” Wall Street?

 

Donald Trump, Saudi Arabia, and the Petrodollar, by Nick Giambruno

The petrodollar has been the anchor of the world’s dollar-reserve currency system since Nixon abandoned the last vestige of the gold standard in 1971. It has also been a huge boon for the US, and abandonment of it will make it much harder for Americans to live beyond their means. From Nick Giambruno at internationalman.com:

Obama pulled out his veto pen 12 times during his presidency.

Congress only overrode him once…

In late 2016, Obama vetoed the Justice Against Sponsors of Terrorism Act (JASTA). The bill would allow 9/11 victims to sue Saudi Arabia in US courts.

With only months left in office, Obama wasn’t worried about the political price of opposing the bill. It was worth protecting Saudi Arabia and the petrodollar system, which underpins the US dollar’s role as the world’s premier currency.

Congress didn’t see it that way though. Those up for reelection couldn’t afford to side with Saudi Arabia over US victims. So Congress voted to override Obama’s veto, and JASTA became the law of the land.

The Saudis, quite correctly, see this as a huge threat. If they can be sued in US courts, their vast holdings of US assets are at risk of being frozen or seized.

The Saudi foreign minister promptly threatened to sell all of the country’s US assets.

Basically, Saudi Arabia was threatening to rip up the petrodollar arrangement, which underpins the US dollar’s role as the world’s premier currency.

Donald Trump and the Saudis

Unlike every president since the petrodollar’s birth, Donald Trump is openly hostile to Saudi Arabia.

Recently he put this out on Twitter:

Dopey Prince @Alwaleed_Talal wants to control our U.S. politicians with daddy’s money. Can’t do it when I get elected.

The dopey prince that Trump is referring to is Al-Waleed bin Talal, a prominent member of the Saudi royal family. He’s also one of the largest foreign investors in the US economy, particularly in media and financial companies.

The Saudis openly backed Hillary during the election. In fact, they “donated” an estimated $10 million–$25 million to the Clinton Foundation, making them the most generous foreign donors.

To continue reading: Donald Trump, Saudi Arabia, and the Petrodollar