Are (((They))) Getting Ready to Crash the Economy?

No one other than the conspirators themselves can know what the stock market, and by extension, the economy is going to do next. However, you can bet that some of our Hebrew friends had an inkling of what was going to happen to stocks today and they profited handsomely.

I’ve always said that Trump should not take credit for the soaring stock market. During the election he said it was a bubble, but once in office he decided he needed some wins so took credit to the rise in stock prices.

It’s all manipulated, Trump. Now, if it is manipulated downward, you’re going to get the blame.

Sky News

A bloodbath for US stock values has seen the Dow Jones Industrial Average suffer its biggest daily point decline in its 122-year history.

The percentage loss is a better measure of the “bloodbath” than the points loss.

Continue reading

Republican Tax Bill Quietly Eliminates Tax Break for Illegals

If you want more of something, subsidize it. If you want less, tax it.

In the case of Mexican children running around the United States, America First-ers don’t want any more. Thus, eliminating the subsidy that illegals get for having children is a nice move.

It’s upset a Jewish woman, Melissa Boteach, who was interviewed for this piece by the very Jewish Business Insider.

Business Insider

A little-noticed provision in the GOP’s sweeping tax overhaul plan, which was released on Thursday, would make undocumented immigrant parents ineligible for the federal child tax credit.

As the law stands now, undocumented parents can receive a federal income tax credit up to $1,000 annually for each child, the vast majority of whom are American citizens.

The change could affect the more than 4 million US citizen children under 18 who live with at least one undocumented parent, as well as the approximately 1 million more so-called “dreamers” who were brought the US by their parents as children and remain undocumented.

Democrats, liberal advocacy groups, and immigrants’ rights activists have long been opposed to the idea, which has been repeatedly proposed by Republican lawmakers in recent years. Attorney General Jeff Sessions, a former senator from Alabama, and other conservatives attempted to pass this provision, known as the Child Tax Credit Integrity Preservation Act, on several occasions as an amendment to the tax code, arguing that it would save $4.2 billion in federal money going to undocumented families.

Melissa Boteach, a vice president at the liberal think tank Center for American Progress, told Business Insider that the provision amounts to an “attack” on children “to pay for tax breaks for the wealthy and corporations.”

She noted that there is strong research that indicates that the extra income the tax credit gives to low-income families has significant long-term benefits for the children, improving their educational, health, and career outcomes, on top of helping to mitigate immediate hardship.

Particularly for low-income families, the child tax credit can be key to staying out of poverty.

“It is a significant amount of income for a low-income family … losing that will definitely affect families,” Elaine Maag, a senior research associate at the non-partisan Tax Policy Center, told Business Insider.

Boteach said that while she didn’t expect the provision to be part of the bill, she wasn’t surprised that the proposal has been resurrected.

“This is not a new idea, it was not a surprise,” she said. “It’s still sad because you’re trying to market this bill as something that’s going to help families, using the child tax credit as a fig leaf, and even within the fig leaf you’re hurting children.”

#LatinaEqualPay Trending on Twitter as Beaner Babes Demand to be Paid What White Men Earn

Latinas are oppressed by evil whitey. Can’t you tell? Look at the one above. Clearly, she’s oppressed.

Today is her day.

But she’s not getting much sympathy from Mark Dice.

Eva Longoria speaks:

Excerpt from Fortune

Latina Equal Pay Day is dead last. Out of the major demographic groups in the U.S., we make the least per dollar compared to white men. For every dollar white men make, Latinas make 54 cents. That’s like ripping a dollar bill in half—or like working an entire week, but only getting paid through Wednesday afternoon. At this rate, to earn what white men earn by age 60, Latina women would have to work until they’re 90.

I come from a long, proud line of smart, hard-working Mexican-American women, and this injustice strikes deep. So I ask myself: How can we start to address the widespread and enduring gender wage gap problem?

Changing our workplace culture

The first step is a cultural shift in which we acknowledge our unconscious biases and, as a society, believe women when they say the wage gap isn’t a matter of personal choice (e.g. taking time to raise children, not asking for a promotion), but rather a symptom of systemic gender discrimination. Data show that the gap cannot be attributed solely to differences in education, experience, age or even career breaks. The “unexplained” portion of the pay gap is due to pervasive discrimination (conscious and unconscious). According to a poll in partnership with SurveyMonkey, two-thirds of Latina women today perceive large gender and racially biased-pay gaps and one-third cite “unconscious bias” and “sexism” as barriers to racial and gender equality.

No, the unexplained portion can be explained by intangibles, such as the fitness of the worker, her energy levels, her intelligence, and her laziness level.

The Mexicans are pedaling more sh*t on a shingle today on Twitter. Let’s take a look at it.

Tulsi Gabbard calls Mexican inferiority an injustice.

As if demanding equal pay means anyone deserves equal pay. My pay is less than that of Bill Gates and Mark Zuckerberg. I demand equality.

The ACLU jumps in to support the poor oppressed Latina.

Senator Feinstein jumps in too.

They “deserve” to be paid what a white man makes. I suppose that Mexico gives them what they “deserve.”

Based Pupper puts the lie to the white oppression bullsh*t.

Let’s end this sh*tshow on a high note, with a Tweet from the dumbest of the dumb, our fav, Chelsea Clinton.

Trump Selects Powell for Fed Chairman, Replacing (((Yellen)))

JEROME POWELL. SET TO HEAD UP THE FED.

Greenspan, Bernanke, and Yellen add up to 30 years of Jews being the face of the U.S. Federal Reserve System.

Now a gentile will have that honor, as President Trump choose not to reappoint Janet Yellen as Chair. It’s the norm to reappoint, and I’m certain Ms. Yellen would have been reappointed by Hillary Clinton.

What does it mean to have a non-Jew heading up the Fed? Not much. The show will go on pretty much as it has, with a little tweaking here and there.

If you’re conspiracy-minded, you might speculate that the Jewish financiers who control world money markets see an economic collapse coming and want to make sure that one of their own doesn’t get the blame.

Excerpt from Bloomberg

President Donald Trump plans to nominate Federal Reserve Governor Jerome Powell to the top job at the U.S. central bank, according to four people familiar with the decision.

In Powell, he’ll select a former private-equity executive who favors continuing gradual interest-rate increases and sympathizes with White House calls to ease financial regulations. The president will announce his decision Thursday at 3 p.m. Washington time from the Rose Garden, the White House said in a statement. Powell declined to comment when approached by a reporter outside his Washington-area home.

Market reaction to the news was muted, given broad expectations that Powell would be the pick. The dollar retreated slightly in Asian trading Thursday, and Treasury yields dipped. S&P 500 futures were down modestly as traders consider prospects for U.S. tax cuts.

If confirmed by the Senate, the 64-year-old former Carlyle Group LP managing director and ex-Treasury undersecretary would succeed Fed Chair Janet Yellen, who has raised borrowing costs four times starting in late 2015 and just began scaling back the central bank’s $4.5 trillion balance sheet.

“He represents a bit of the continuation of the status quo without being named Yellen,” said Gennadiy Goldberg, interest-rate strategist at TD Securities. “He’s relatively dovish-leaning on policy, but also willing to undertake some deregulation at the margin. He’s basically a perfect candidate for Trump.”

The decision would cap a months-long White House search that included consideration of re-nominating Yellen, or installing outsiders such as National Economic Council Director Gary Cohn, Stanford University economist John Taylor or former Fed Governor Kevin Warsh. The Wall Street Journal earlier on Wednesday reported that Trump had selected Powell.

A Republican appointed to the Fed in 2012 by Democratic President Barack Obama, Powell has earned a reputation as a non-ideological and pragmatic policy maker. While he hasn’t played a prominent public role in formulating and explaining monetary policy, he has generally backed Yellen’s cautious approach to withdrawing stimulus.

Yellen, 71, who is the first woman to lead the U.S. central bank, will become the first Fed chair since 1979 not to be reappointed to the job.

My choice would have been Professor John Taylor, whom I met briefly a couple of decades ago. I can’t picture him being a tool of the financial oligarchs. His famous (to us economists) Taylor’s Rule would replace Fed politics with simple math. Investopedia presents the Rule this way:

The equation, with some alterations, used by central banks under Taylor’s rule looks like:

i = r* + pi + 0.5 (pi-pi*) + 0.5 (y-y*)

Where:

i = nominal fed funds rate

r* = real federal funds rate (usually 2%)

pi = rate of inflation

p* = target inflation rate

Y = logarithm of real output

y* = logarithm of potential output

Operating with a rule would take the manipulation of the economy out of play.

Which is probably why John Taylor wasn’t picked.

PROFESSOR JOHN TAYLOR. NOT PICKED.

The Explosion of Bullsh*t Jobs (Viral Video)

Something different.

Meaningless jobs keep everyone employed, but at the cost of real prosperity and human satisfaction.

Sixteen and a half minutes.

From the youtube information box:

David Graeber and Rutger Bregman discuss the amazing explosion of bullshit jobs, where the political and economic goal of full employment has led to the greatest and most expensive welfare system of all time.

Sample comments:

C’mon is this guy saying that Google’s VP of Diversity is unnecessary?

Useless job that provides nothing to society… Have you ever heard of hedge funds?

This explains the push to get women to choose a career over marriage. Feminism was a top down movement to enrich the 1%.

I read that 60% of peer reviewed sociology research papers have zero references to them. What I mean by zero references to them is that the majority of these “peer reviewed” studies and papers are never used as references. The university career machine is completely bloated, most of these academics are completely useless, just filling the air with random data squeezed through their ideological worldview, they’re so useless that no one bothers to read anything they write.

“In a 2013 survey of 12,000 professionals by the Harvard Business Review, half said they felt their job had no ‘meaning and significance,’ and an equal number were unable to relate to their company’s mission, while another poll among 230,000 employees in 142 countries showed that only 13% of workers actually like their job. A recent poll among Brits revealed that as many as 37% think they have a job that is utterly useless.”
https://www.weforum.org/agenda/2017/04/why-its-time-to-rethink-the-meaning-of-work/

Bonus video:

Trump Praises China For Ordering Banks To Halt Business With North Korea

If you believe as I do that the North Korean threat is a psy op, engineered by the (((Deep State))) to add to the American military budget and to add to Israel’s aspirations, then you might not be impressed with the news about added sanctions on Kim’s regime. If you are inclined to believe the little fat boy is a real threat, then enjoy the good news that President Trump reported today at the UN.

Real Clear Politics

Sitting alongside South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe at the UN General Assembly on Thursday, President Trump praised the Chinese government for reportedly banning any of its banks from doing business with North Korea.

“You heard about China – what China was doing today, in terms of the banking system. That was a tremendous move,” the president said.

“I’m very proud to tell you that as you may have just heard moments ago, China, their central bank has told their other banks –that’s a massive banking system– to immediately stop doing business with North Korea,” Trump reportedly said off camera at the same meeting.

PRESIDENT TRUMP: It’s wonderful to have prime minister Shinzo Abe doing a great job for the people of Japan. He’s doing a wonderful job for the great people of Japan. We had discussions already today and this is a formalization of the discussions. We made a lot of progress both on trade and obviously, very importantly, we have discussed in great detail North Korea, with also South Korea, as you just saw.

So we will continue that dialogue — the relationship that has never been closer with Japan and the United States.

It will continue on with that way. I look forward to discussing some things that the group is here specifically to discuss, and we will be reporting back to you later.

Thank you all very much. You heard about China – what China was doing today, in terms of the banking system. That was a tremendous move and we have great respect and also would like to thank President Xi of China. It was a great thing he did today. Thank you very much. Thank you very much for being here.

If the whole North Korean situation is real, then Trump is doing better than Obama. That bar was set pretty low, however.

As they say, “It ain’t over til the fat lady sings.” This isn’t over yet.

I’m out of fat ladies. William Shatner will have to do. Trump’s inspiration–Rocket Man.

Cohn seen as unlikely pick for Fed chairman after Charlottesville remarks

FED CHAIR JANET YELLEN. TRUMP MIGHT KEEP HER.

GARY COHN. IN THE DOG HOUSE.

Jews must be feeling excluded. They never catch a break. We need more Jews at the Federal Reserve. Right, everyone?

Fox News

Gary Cohn, the former Goldman Sachs investment banker and President Donald Trump’s current economic adviser, is now considered an unlikely pick to lead the Federal Reserve after criticizing the White House’s response to violence in Charlottesville, Va.

Trump has openly floated the idea of nominating the former banker as the potential successor to Fed Chair Janet Yellen — whose term ends in February – saying in July that he has “great respect” for him.

But Trump has backtracked on the idea recently in private, people familiar with the president’s thinking told the Wall Street Journal. The job prospects shifted mostly due to Cohn’s comments about the president’s response to violence in Charlottesville, the sources told the paper.

Cohn issued a stark rebuttal of Trump’s comments in an interview with the Financial Times last month, where he said the administration “can and must do better” to denounce hate groups, including neo-Nazis and the KKK that marched in Charlottesville.

“Citizens standing up for equality and freedom can never be equated with white supremacists, neo-Nazis and the KKK,” he told the newspaper.

The comments were a cold shower to Trump, who did not expect such an attack from his economic adviser, prompting the president to bristle at the very mention of Cohn, one White House official told the paper.

But the chances of Cohn of being appointed the next Fed chairman were still not completely lost, according to another official. A lot hinges on tax reform.

Cohn is considered one of the smartest businesspeople close to Trump and — along with Treasury Secretary Steven Mnuchin — has been working on Trump’s long-awaited tax plan.

Yellen has not publicly said she would serve another term. Some of her former colleagues told the Journal that she would continue to serve if asked.

Trump was critical of Yellen while campaigning last year, saying her decision to keep interest rates low was aimed at helping the Democratic Party and President Barack Obama. His opinion appeared to change after taking office, saying in a July interview that he was also considering keeping Yellen in her position.

Others said to be under consideration for the Fed job include former governors Lawrence Lindsey and Kevin Warsh, former BB&T Bank chief executive John Allison, and Stanford University economist John Taylor, the Journal reported.

A White House spokeswoman said Cohn was “focused on his responsibilities … including a once-in-a-lifetime opportunity to deliver meaningful tax reform that creates jobs and grows the economy.”

John Taylor, whom I talked to when he came to give a talk here years ago, is a long shot. After all, Professor Taylor isn’t a Jew and it’s just not kosher to discriminate against Jews by denying them their well deserved positions of high authority.

By the way, the Jewish professor Stanley Fischer has submitted his reignation from the Fed, effective next month, on Friday, October 13. Trump will be appointing someone to replace him and it better be a Jew if Trump knows what’s good for him. Fischer is the Fed’s Vice-Chair.

I LEARNED MY MONETARY ECONOMICS FROM HIS TEXTBOOK.

Here’s a link to Professor Taylor’s blog. I didn’t try to access it, but there are links on his blog to all the course materials he created for his Stanford basic economics course.