Podcasts about economic armageddon

Andy Schectman, president of Miles Franklin, joins the program to discuss the orchestrated takedown of the United States economy. He explains how some of the moves are so dumb, that there is no doubt it is on purpose to destroy the United States and the western financial system. He believes it is a plot to force the eventual adoption of CBDC on an unsuspecting public.Learn more how you can convert your IRA or buy precious metals by emailing info@MilesFranklin.com – tell them "Sarah sent me" and get the best service and prices in the country.

Andy Schectman, president of Miles Franklin, joins the program to discuss the orchestrated takedown of the United States economy. He explains how some of the moves are so dumb, that there is no doubt it is on purpose to destroy the United States and the western financial system. He believes its a plot to force the eventual adoption of CBDC on an unsuspecting public. Learn more how you can convert your IRA or buy precious metals by emailing info@MilesFranklin.com - tell them ‘Sarah sent me” and get the best service and prices in the country. Consider subscribing: Follow on Twitter @Sarah_Westall Follow on my Substack at SarahWestall.Substack.com See Important Proven Solutions to Keep Your from getting sick even if you had the mRNA Shot - Dr. Nieusma MUSIC CREDITS: “In Epic World” by Valentina Gribanova, licensed for broad internet media use, including video and audio     See on Bastyon | Bitchute | Brighteon | Clouthub | Odysee | Rumble | Youtube | Tube.Freedom.Buzz   Andy Schectman Biography Andy has been a prominent figure in the financial services industry for 25+ years. Andy has distinguished himself as a reputable speaker on economics, global investing, and foreign currencies. Andy recommends himself and his team to assist you with all your precious metals investments. Learn more how you can convert your IRA or buy precious metals by emailing info@MilesFranklin.com - tell them ‘Sarah sent me” and get the best service and prices in the country.

It sure sounds like the Apocalypse is near. During the eclipse, trucks can't drive through Texas and New York is locking down there prisoners. NASA is not only launching rockets at the moon's shadow; they are launching another rocket at a solar flare from Alaska! Earthquakes hit Taiwan and New Jersey as the planets align for the solar eclipse. A plague of cicadas are about to erupt and Israel is sacrificing red heifers! What could go wrong? How will this all affect the economy? Are we also looking at an Economic Armageddon? What would that look like? The Deep Economic State, Central Banks, The Bank For International Settlements and The Conspiracy Behind It All. How The World's Most Powerful Central Bankers have met in Secret for almost 100 years planning this Reset. How Quantum Computing could hack the World's Encryption and bring down the dollar. Get Quoz: A Financial Thriller Mel Mattison is a writer and financial services veteran. Leveraging over twenty years' experience in the realm of high finance, he brings real-world authenticity to his fictional narratives. Having served as the CEO of three separate FINRA and SEC regulated broker-dealers, Mel combines insider knowledge with a critical eye toward the economic forces that shape all our lives. In Quoz, Mel weaves together a tail of monetary mayhem that strikes directly at the core of American power and economic might. He pulls characters seemingly out of the screen of Margin Call, Boiler Room, and The Wolf of Wall Street, delivering an epic thrill ride packed with action, intrigue, and a healthy dose of economic realism. As Thomas Jefferson wrote, “banking establishments are more dangerous than standing armies.” Get your Aquacure! Use coupon code: FREEMAN for %5 off! Aquacure AC50 The AquaCure® (Model AC50) is the MOST ADVANCED and user-friendly Hydrogen Rich Water and HydrOxy for Health machine. Contact George Wiseman for his upcoming Brown's Gas instructional seminar https://eagle-research.life/contact/ https://eagle-research.life/ The Free Zone with Freeman Fly - Saturday 8pm EST FreemanTV.com Watch Freeman's videos on Rokfin Follow me on Twitter @freemantv Associate Producer: Steve Mercer Send comments and guest suggestions to producersteve@freemantv.com

During this episode of The Jeff Dornik Show, Joseph Lombardi joins me to discuss the dire straights our economy is in and what you can do about it. It's clear that our political system and parties have been co-opted by outside Powers-That-Be who are manipulating our economy to their own benefit… and to the detriment of We the People. Through his company, Ironhawk Financial, he helps people protect their money from inflation through the tax-free loopholes the millionaires and billionaires use. Request a complimentary consultation and be sure to let him know that you saw his interview on The Jeff Dornik Show. Go to ironhawkfinancial.com today! Subscribe to The Jeff Dornik Show on Rumble to and tune in LIVE every day at 8pm ET. Fed up with pillow talk that's as soft as a politician's promise? MyPillow – because your sleep deserves more support than a failed campaign. Rest your head on the pillow that's making bedtime great again! Use code FFN for MASSIVE discounts at mypillow.com. Ready to flip the script on the chaos orchestrated by the Biden Regime and globalists? Our Gold Guy, Ira Bershatsky, isn't just offering consultations; he's providing you with a golden ticket to financial independence. Say goodbye to telemarketers and hello to a true expert in precious metals – because when everything else is in jeopardy, your wealth doesn't have to be. ourgoldguy.com Sign up for pickax, the social media platform that protects free speech, is not beholden to Big Tech, has algorithms that amplify your voice and provides monetization opportunities for content creators. https://pickax.com Subscribe to The Jeff Dornik Show on Substack to get all of Jeff's shows, interviews and articles directly to your email inbox. Become a paid subscribe to get access to his weekly exclusive show for paid subscribers only. Subscribe at https://jeffdornik.substack.com.

Today we are doing Jen's favorite thing: following the big dirty money. This time the focus is on the world of private equity. Those two words together sound ever so restrained and elite, even contained.  In reality though the world of private equity is rough and destructive and affects all of us from patients seeking health care to workers losing their jobs. There are more than $10 trillion in private equity assets under management. And many public pension funds as well as ordinary members of the public are invested. Not private at all. Timing is everything. In early December, two U.S. senators launched a bipartisan investigation on the takeover of our nation's healthcare by giant private equity firms. Today on Booked Up we  have the top experts on this topic,Joining Jen to discuss this topic are authors Gretchen Morgenson and Joshua Rosner. Their new bestseller These Are the Plunderers: How Private Equity Runs—and Wrecks—America is a must-read for anyone and everyone who wants to understand why and how the rich get richer and the rest of us are struggling to make ends meet. You may recognize Gretchen and Josh from their first book, about the 2008 financial and related mortgage crisis. It was a great resource for me when I wrote about that dangerous period. Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon.  Gretchen is the senior financial reporter for the NBC News Investigative Unit. A former stockbroker, she won the Pulitzer Prize in 2002 for her “trenchant and incisive” reporting on Wall Street. Josh is managing director at independent research consultancy Graham Fisher and Co., advising regulators, policymakers, and institutional investors on banking and financial markets.  Contact Booked Up: You can email Jen & the Booked Up team at: BOOKEDUP@POLITICON.COM or by writing to:  BOOKED UP  P.O. BOX 147 NORTHAMPTON, MA 01061 Get More from Gretchen Morgenson Twitter | Website | Author of THESE ARE THE PLUNDERERS Get More from Josh Rosner Twitter | Website | Author of THESE ARE THE PLUNDERERS More from Jen Taub: Twitter | Money & Gossip  Substack | Author of BIG DIRTY MONEY 

We're heading back in time now to September 2008 and some very rich bankers had some explaining to do as the world hurtled towards financial armageddon. Hear more of our shows, buy our book, and donate here: thebuglepodcast.com/This episode was produced by Chris Skinner and Laura Turner Hosted on Acast. See acast.com/privacy for more information.

Bloomberg Radio host Barry Ritholtz speaks with Gretchen Morgenson, senior financial reporter for the NBC News investigative unit. A former stockbroker and alumna of the New York Times and Wall Street Journal, she won the Pulitzer Prize in 2002 for her “trenchant and incisive” reporting on finance. She and coauthor Joshua Rosner recently published “These Are the Plunderers: How Private Equity Runs ― and Wrecks ― America.” They also wrote the 2011 bestseller “Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon,” about the mortgage crisis.See omny.fm/listener for privacy information.

Ralph welcomes Pulitzer Prize winning reporter, Gretchen Morgenson, co-author of “These Are the Plunderers: How Private Equity Runs – And Wrecks – America,” where they name names in this “heads we win, tails you lose” system of predatory capitalism.Gretchen Morgenson is the senior financial reporter for the NBC News Investigative Unit. A former stockbroker, she won the Pulitzer Prize in 2002 for her “trenchant and incisive” reporting on Wall Street. Previously at the New York Times and the Wall Street Journal,” she and coauthor Joshua Rosner wrote the bestseller Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon about the mortgage crisis. Their latest book is These Are the Plunderers: How Private Equity Runs—and Wrecks—America.The way corporate criminals get their way is by trying to make things too complex and too abstract for your daily lives. But when Gretchen [Morgenson] talks about these plunderers, and let's call them “predatory capitalists”, don't think that you're not being affected— whether your loved ones are patients in nursing homes, whether you're workers being laid off, whether you're consumers being gouged for drug or healthcare prices, whether your community's going to be hollowed out because the company that was doing okay was taken over by these vultures and closed down after they extracted the wealth.Ralph NaderIt's interesting now that David Rubenstein is retired [from the Carlyle Group], he's a philanthropist. This is what these wealthy people do once they've finished their careers and made so much money. They become philanthropists… We've all read about David Rubenstein and Steve Schwarzman and Leon Black and Henry Kravis. We read about them constantly. They are always lauded for their brilliance and their billionaire status. What we just don't hear about are the people on the other side of their transactions.Gretchen Morgenson, co-author of “These Are The Plunderers.”The disappointing thing about the Justice Department is that when they bring these cases against the companies that are doing Medicare fraud (like in the Manor Care situation), they don't move up the corporate ladder to the owner of the company. The Justice Department does the work on the particular company that is owned by private equity, but they don't go up the ladder. And that has a way of allowing the firms—like Carlyle in the Manor Care case— to escape scrutiny and to escape accountability. So that would be an ideal thing to change.Gretchen Morgenson co-author of “These Are The Plunderers.”In Case You Haven't Heard 1. Amid the debt limit fight, progressives are calling for President Biden to invoke the 14th amendment, which they believe would allow Biden to bypass the Republican House and raise the debt limit without concessions like adding further work requirements to public benefits. In a press conference by the Senate progressives, John Fetterman of Pennsylvania said "This is the whole reason why the 14th Amendment exists, & we need to be prepared to use it. And, if our unelected Supreme Court Justices try to block the use of the 14th amendment and blow up our economy, that's on them.” However, POLITICO reports that the administration is privately telling progressives to stand down. Instead, the White House seems more interested in negotiating with Speaker McCarthy, even if that means caving to outrageous Republican demands.2. As the Writers Guild strike grinds on – at a cost of $30 million per day according to Deadline – the  Screen Actors Guild is now on the verge of their own strike. Last week, SAG-AFTRA's National Board voted unanimously to ask members for strike authorization, and the Daily Beast reported that SAG-AFTRA president Fran Drescher urged members to “make three a charm with an emphatic ‘yes' for a strike authorization vote!” adding that to do so would be “an unprecedented show of solidarity.” An actor's strike against the studios has not happened since 1980.3. Last week, Senator Bernie Sanders introduced the Healthy Families Act of 2023, which would guarantee 12 weeks of paid family and medical leave. This bill features a companion in the House, led by Rep. Rosa DeLauro, and carries the support of 122 members of the House and Senate. Sanders is quoted saying “It is time to end this absurdity...It is time Congress passed this legislation to ensure workers receive the basic dignity and benefits that they deserve.” The introduction of this legislation comes on the heels of the reintroduction of a Medicare for All bill in this Congress.4. A damning new report in the Wall Street Journal indicates that “Jeffrey Epstein discovered that Bill Gates had an affair with a Russian bridge player” and later used this knowledge to attempt to threaten the Microsoft co-founder. The report goes on to say that “at the time, Epstein was trying to set up a multibillion-dollar charitable fund with JPMorgan...[which] hinged on securing support from Gates.” When this money was not forthcoming, Epstein resorted to blackmail. This gives the public our clearest idea yet as to the nuts and bolts of the Epstein criminal enterprise.5. POLITICO is reporting on a rumor concerning Senator Dianne Feinstein, Representative Adam Schiff, and the Pelosi family. The former Speaker herself has endorsed Schiff in the upcoming California Senate primary and has long groomed him as a political protege. He currently holds a $15 million advantage over his nearest opponent. Yet, if Feinstein – who has appeared deeply addled in recent public appearances – were to resign, Governor Newsom would have the opportunity to appoint a Senator to the vacant seat, and has pledged to appoint a Black woman. Rep. Barbara Lee, a progressive Black congresswoman representing the Bay Area, is among the candidates to replace Feinstein, and would therefore have a strong chance of being appointed. Per the report, Nancy Corinne Prowda, Pelosi's eldest child, is a top aide to Senator Feinstien, and a “Pelosi family confidant” insinuated that she is angling to keep Feinstein in her seat, not for the benefit of Californians, but for the benefit of Adam Schiff.  6. The LA Times reports that “Nearly three dozen deputies have been ordered to come in for questioning, show their tattoos and give up the names of any other deputies similarly sporting ink connecting them to…the Los Angeles County Sheriff Department's…deputy gangs.” This demand came in a letter from county Inspector General Max Huntsman to 35 deputies suspected of being members of either the Executioners or the Banditos, two of the most notorious among these police gangs. Huntsman is quoted saying “The Los Angeles Sheriff's Department conducted incomplete internal affairs investigations into the Banditos and Executioners, failing to identify all members…California's new gang law addresses discrimination based on race and gender and gives inspectors general enhanced authority to collect evidence. We're using that authority to complete the investigations by directing deputies to show their tattoos and tell us who else has them.”7. The Sierra Club is currently in the midst of a labor battle. The New Republic reports that, in an attempt to resolve their budget shortfall, the group has announced “massive layoffs,” the scale of which still remains unclear.  This announcement set off a “fractious battle” between the top leadership and the Progressive Workers Union, which has two bargaining units representing nearly 400 Sierra Club employees around the country. Thus far union has filed two unfair labor practice charges with the National Labor Relations Board; the first “accuses the Club of failing to provide necessary information for bargaining,” and another alleging that “management is violating its collective bargaining agreement and is bargaining in bad faith.”8. Democracy Now! reports that conservative, US-backed Ecuadoran president Guillermo Lasso has “dissolved the opposition-led National Assembly in a move widely seen as an effort to block efforts to impeach him.” Lasso dissolved the assembly as it held its first hearing on corruption and embezzlement allegations against Lasso. Lasso invoked a never-before-used constitutional power allowing him to “rule by decree” until new elections are held.9. In an almost unbelievable story, Live Science is reporting that Orcas have “sunk 3 boats in Europe and appear to be teaching others to do the same.” The piece goes on to say that scientists believe the attacks are coordinated, and began following an orca experiencing a "critical moment of agony." Further, they believe “the behavior is spreading among the population through social learning.” This is a stark reminder that we as a species impact our environment and that, sometimes, there are consequences. Get full access to Ralph Nader Radio Hour at www.ralphnaderradiohour.com/subscribe

The Trends Journal is a weekly magazine analyzing global current events forming future trends. Our mission is to present Facts and Truth over fear and propaganda to help subscribers prepare for What's Next in these increasingly turbulent times. To access our premium content, subscribe to the Trends Journal: https://trendsresearch.com/subscribe Follow Gerald Celente on Twitter: http://twitter.com/geraldcelente Follow Gerald Celente on Facebook: http://facebook.com/gcelente Follow Gerald Celente on Instagram: https://www.instagram.com/geraldcelen... Follow Gerald Celente on Gab: http://gab.com/geraldcelente Copyright © 2023 Trends Research Institute. All rights reserved

Tonight's rundown:  Talking Points Memo: Donald Trump sues journalist Bob Woodward, but does this move help or hurt the former president? Numbers show that most Americans are living paycheck to paycheck, that's bad news for Joe Biden White House press secretary Karine Jean-Pierre is under fire for lying The Daily Signal's Fred Lucas joins the No Spin News This Day in History: Viet Cong guerrillas attack the U.S. embassy in Saigon Final Thought: Aging In Case You Missed It: Read Bill's latest column, "Hitler, Tojo, Putin, and Xi" Let your people know you're a No Spin guy or gal! Get the new No Spin Polo, available at BillOReilly.com! Learn more about your ad choices. Visit megaphone.fm/adchoices

Click on PDF below to get the Notes of today's broadcast

The ‘R' word is popping up a lot these days. That word is “recession,” and there's a good reason everyone's talking about it. Prices are going crazy. It seems like everything's doubled in the last few months. If unemployment weren't so low, it would be a slam-dunk and everyone would say we're in a recession. This is important for copywriters and entrepreneurs, because there are specific strategies you can use to stay afloat and even grow your business in a recession. We'll talk about them today. Are you skeptical that anything could work in a recession? A Forbes magazine article says that seven billion-dollar family fortunes trace back to getting started during the Great Depression. So it's possible to do well when the economy's in the tank. Now some experts I've seen on TV say we're not in a recession yet. A really bright guy on the left says we're pretty close, and just as bright a guy on the right says there's a very good chance we'll go into a recession soon. I don't agree with either of them. I think we're not going into a recession, at least until after the elections in November. I think the politicians who have most to gain from no recession will make sure we stall it until they get reelected. But I've been wrong about the economy before. So even against my own predictions, I think it's a good idea to know what to do now so when things start to look really bleak, you'll have a plan you can go to. Because sooner or later there's going to be one. That's not just me talking. That's history talking. We've had five major recessions since I've had a job or a business, and eventually we're headed for another one. The best news of all is, the ideas we'll talk about today will work great even when we're not in a recession — and work even better once we are. So let's start by figuring out what a recession is. It's a scary word, and it's easy to think it means the economy has rolled to a dead stop. Or has collapsed completely. Game over. Economic Armageddon. And that's very dramatic, but in truth, that's not what a recession is. A recession is when the economy slows down. Keep that in mind as we go through this. Yes, there are problems. There are even some human tragedies. Sometimes a lot of them. But that doesn't mean the economy has up and left and gone to another planet. No. It has slowed down. Another thing to remember: A recession doesn't affect everyone the same way. Let's say there's a business where 10 employees there are your customers. Five of them get laid off. The other five stay on at the same salary they had before people started getting laid off. The five people who got laid off are a lot less likely to buy from you, in most cases, than the five who still get paychecks on a regular basis. One customer groups has suddenly become two very different ones. So even people in the same neighborhood are not all the same, when it comes to what kind of customer they'd be in a recession. And there's another thing before we get into what to do (and what not to do) in a recession. What's going on in the economy and specifically in your target market is very important. You need to pay attention and keep tabs on it. But there's something that's far more important, and that's your mindset. Now if you're skeptical about mindset, I understand. There's a huge industry developed that says if you're just like Dorothy in the Wizard of Oz, and you tap your red shoes together and repeat a magic phrase over and over, that is simply all you have to do and you will live a rich and satisfying life. I never got the red shoes myself, but from what I've observed and experienced, it doesn't exactly work that way. A positive mental attitude is definitely important, but it's hardly enough. The mindset I'm talking about is much more real-world. First of all, it's a perspective. A way you look at things. Expecting that you'll be successful but knowing it's not always easy and you may have to try more than one path to get a result you're looking for. But it's more than that. The mindset I'm talking about involves your hands, your mouth, and your ears. Your hands - What you do. Your mouth - What you say. Your ears - How you listen. It's what you focus on. And where you don't obsess, too. It has to do with you how you use your mind to run your day throughout the week. A bias in favor of action and replacing perfectionism with repeated efforts and adjustments, especially if something doesn't work the first time. That's at least as important as any marketing or copywriting moves you make during a recession. Besides that, on today's show, we dig into: • What NOT to do when a recession hits • What to do MORE of, and • 3 proven Recession-Fighting Strategies you can use right away, whether we're in a recession or not! (They increase income either way.) • And 4 overall principles to get the most from your business during a downturn. Download.

https://ivanteller.com/

Follow us (and like us!) at Apple Podcasts or wherever you listen to your favorite podcasts, and on Twitter. Also please subscribe at TheAnkler.com for more podcasts and stories about the entertainment industry.Hosts Janice Min, Richard Rushfield and Tatiana Siegel are joined by new Ankler contributor Sean McNulty of The Wakeup newsletter to discuss the first likely recession of the streaming era, which, if it were to happen, would further roil companies already getting pounded by Wall Street and, in the case of Netflix, subscriber losses.McNulty references the last recession following the 2008-2009 collapse of the financial markets. It was pre-streaming and HBO was the dominant premium player at the time. “HBO really never saw a big hit in [previous] recessions… but that was in the ecosystem of cable TV, where it was a lot harder to cancel your HBO,” says McNulty, a former executive at HBO and Charter. “Now, you can literally cancel at the click of a button on your [remote]. I think we haven't seen too much [subscription decline] yet. But I think by end of by Q3… this will be very interesting.” Marketing cuts appear already to be underway as the streamers tighten their belts. “You're not gonna cut back necessarily on production, but you cut back on marketing and advertising… [they] take the first hit, which is where Warner Bros. Discovery already has positioned its ax,” adds McNulty. “And layoffs are sweeping the industry.” Additionally, an across-the-board pullback in advertising is expected as well right as streaming services pivot to advertising to goose revenue.  Siegel also discusses the role of inflation in the new subscription economy: “Everyone right now is terrified of the economic outlook, because no matter how wealthy somebody is in the industry, even if they're at the highest echelon of the industry, they are seeing that a pint of strawberries is $19. And you have to wonder how long will people be able to have four different streaming subscriptions under those kind of economic [conditions].” This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit theankler.com/subscribe

We discuss the rising threat of China and the disastrous financial situation the country is facing ahead of the holiday season.  Our guests are: Dr. Peter Navarro, Joe Allen, Joe Rieck, Frank Gaffney Stay ahead of the censors - Join us warroom.org/join Aired On: 11/29/2021 Watch: On the Web: http://www.warroom.org On Podcast: http://warroom.ctcin.bio On TV: PlutoTV Channel 240, Dish Channel 219, Roku, Apple TV, FireTV or on https://AmericasVoice.news. #news #politics #realnews

We discuss the rising threat of China and the disastrous financial situation the country is facing ahead of the holiday season.  Our guests are: Dr. Peter Navarro, Joe Allen, Joe Rieck, Frank Gaffney Stay ahead of the censors - Join us warroom.org/join Aired On: 11/29/2021 Watch: On the Web: http://www.warroom.org On Podcast: http://warroom.ctcin.bio On TV: PlutoTV Channel 240, Dish Channel 219, Roku, Apple TV, FireTV or on https://AmericasVoice.news. #news #politics #realnews

There is a lot of economic uncertainty in the air right now and fear of hyperinflation. U.S. Inflation is well over 5% this year and entrepreneurs worry about price distortion and the buying power of their dollar. But hyperinflation is defined as a period of time in which prices have risen by more than 50% per month for several months and we are very far from that. In this podcast Ryan Moran shares his thoughts on what is happening in our economy, what to do about inflation, and seeks out where the opportunities lie in our shifting world. To join The One Percent, our community that helps capitalists build million dollar businesses and learn to growth their wealth visit: https://www.capitalism.com/the-one-percent/?utm_source=CapPod&utm_medium=podcast&utm_campaign=episode

*NEW ITEM!* Purchase my newest book! "15 Conversations with Real Estate Millionaires" https://amzn.to/3CGOWOU

Welcome to episode 67 of Activist #MMT. Today I talk Sam Levey on the core assumptions of mainstream economics. Sam is a research scholar with the Global Institute for Sustainable Prosperity, a PhD candidate in economics at the University of Missouri Kansas City, or UMKC, and a co-founder of the online advocacy group, Deficit Owls. Sam starts by giving an update on his progress towards his PhD. After that, our conversation is all about the core assumptions of mainstream economics, which is currently neoclassical. This is part one of the new two-part conversation, but it's also part of two of a larger four-part series about the relationship between mainstream economics and MMT. Parts one and four are with Dirk Ehnts and Asker Voldsgaard (here's part one, which contains a link to all four parts). Last week, I spoke with Dirk and Asker about their 2020 paper which is a response to a 2019 paper by Jeppe Druedahl. Jeope's paper is a summary of the mainstream concern for the long-term fiscal sustainability of government spending, and its corresponding debt and interest on the debt. For more on the details of this particular argument, consider taking a listen to last week's episode. Today, Sam and I use Jeppe's paper as a bouncing off point for discussing the core assumptions on which the above argument, and mainstream economics in general, is built. To very briefly summarize Jeppe's argument: This conversation with Sam is focused on mainstream (which is currently neoclassical) economics, and more specifically, the fundamental assumptions that underlie it. As a jumping off point, I'm going to briefly review the paper I discussed last week with Asker Voldsgaard and Dirk Ehnts. They wrote a response to a 2019 paper by Danish economist Jeppe Druedahl. Jeppe's paper is called “A kinder egg on MMT“ and is basically the mainstream argument against MMT regarding the long-term fiscal sustainability of government spending, and its consequential debt and interest on the debt. In brief, under mainstream assumptions, if you model out government spending to infinity, which means at a minimum, 75 to 100 years, there are serious concerns. To such an extent, that there may be only two choices, both of which are genuine Economic Armageddon: hyperinflation or – despite the ability to issue its own currency – voluntarily default in order to avoid hyperinflation. You should consider reading Jeppe's paper, as well as Asker and Dirk's response. You should also listen to the previous episode where we discuss both. In addition, this argument has been thoroughly addressed in several papers by Scott Fulwiler, the latest being the 2020 paper called “When the interest rate on the national debt is a policy choice (and “printing money" does not apply)." Links to three of these papers by Scott, from 2006, 2016, and 2020, plus those by Asker and Dirk, and Jeppe, can be found in the show notes. As I understand it, when it comes to the particular concern of long-term fiscal sustainability, the core assumptions are: First and foremost, loanable funds: The idea that banks cannot issue loans by creating new money, but rather loan out other peoples money. In addition, the central government can borrow that money as if the government is just another private citizen or company. Loanable funds implies that financial crowding out is possible, which means that the non-government sector must compete for those loanable funds with the government. This further implies that, although the central bank can set the short-term interest rate that they wish to target (called the nominal rate), they have little to no control over long-term interest rates. These longer-term rates are called “real“ interest rates, because they are set by so-called “real“ forces in the market. Note the inherent ideology lurking behind that word “real.“ MMT says that there is only one way to spend which is by issuing currency. Taxation and bond sales may be necessary for other purposes, but when and for what is never directly related to the currency that is issued – and rarely-if-ever a one-to-one relationship. Mainstream calls issuing currency without selling bonds “printing money.“ It asserts that printing money is (A) not possible without also paying for it with the revenue from taxation or bond sales, either now or in the future. and (B) conversely, that it is indeed possible for the issuer to collect that revenue and then respend it at a later date. Again, MMT says this is not possible, as the only way for the issuer to spend is by... issuing. More specifically, this is done by expanding balance sheets at the central bank and Treasury, by making numbers bigger and smaller on accounting t-charts. Finally, mainstream also assumes perpetual or inevitable full employment, in addition to the god-like foresight to know what federal spending will be, not just next year, but 100 years into the future. In addition to the mainstream argument regarding fiscal sustainability, Sam and I talk about many other different topics, including deductive versus inductive reasoning, quantitative versus qualitative research methods, the Great Depression versus the Great Vacation, and statistical overfitting, We also discuss the contradictory view of how the central government is seen by mainstream as both a helpless dainty flower and, simultaneously, a potentially-catastrophically destructive force. We also answer a question by a patron of Activist #MMT, Alexander, regarding the mainstream response to sectoral balances in the context of loanable funds. Finally, we talk about how and why mainstream economics considers money to be "special." Basically, in the mainstream view, money is a scarce, physical thing – in other words, no different than any other commodity. This means that the only way for someone in the non-government sector (citizens and businesses) to get new money, is for it to be wrested from the hands of another citizen or business. Under the theory of loanable funds, even government spending comes from the non-government sector, and so must also be ripped from the hands of someone in the economy. Hence, a zero sum game and crowding out. scarce! But even if not scarce, the assumption of full employment SIMULATES scarcity! MMT recognizes that all kinds of money, including reserves, cash, bonds, and other treasuries, is not scarce but another type of IOU. As Sam told me, "finance itself is not scarce, It's a coordination mechanism." This insight and reality changes the battle from, “from whose hands will we take the money?“ To “Who will we put in charge of this coordination?" As MMT recognizes, the latter has always been the case. The former is predicated on the assumption that our money can and will never be coordinated by the government. As Neil Wilson said to Phil Armstrong on their recent Gower Initiative interview (to paraphrase): “the plane works just fine, we just seriously need a new crew.“ Sam takes this further by saying that we need a new process with which to choose that crew. However, even if we do get a new process, even if we do get money out of our politics, and even if we do get a new and good crew, none of it matters if money is truly scarce and special, such as under loanable funds. If money is scarce, then we as a society and citizens, and the government that is supposed to represent us, will never be in charge of coordinating our money. As a final note, I also talk about the mainstream assumptions of the neutrality of money in episode 57, which is part two with Asad Zaman, and historical time in last week's episode with Dirk and Asker. And now onto my conversation with Sam Levey. Resources My primary source for preparing for this interview was Steve Keen's 2011 book, Debunking Ecoonmics, second edition. Every episode and snippet on Activist #MMT with Sam. I discuss the neutrality of money in part two with Asad Zaman, on episode 57. Michael Kalecki's 1943 paper, Political Aspects of Full Employment (Sam considers this papers one of his favorites) Yale economics professor, Truman F Bewley 1998 book by Alan Blinder, Elie R.D. Canetti, David E. Lebow, and Jeremy B. Rudd, Asking About Prices: A New Approach to Understanding Price Stickiness Sherlock Holmes is the master of deduction (the difference between deductive and inductive reasoning) Eric Grauchwe's 2018 book, Winter War: Hoover, Roosevelt, and the First Clash Over the New Deal Here's Sam's response to my statements regarding S=I: "So, they way Keynes defines *actual* S and I, they are always equal at all times no matter what. Usually if you’re talking about the possibility that they might not be equal at some time, then you’re talking about *desired* or *planned* S and I. Keynes has a 1937 paper that goes into this issue, which is still important for PKE I think. “The Ex Ante Theory of the Rate of Interest." Full context of question by Activist #MMT patron, Alexander Dear Sam, I wonder if you could explain what is the neoclassical equivalent of the sectoral balance view in national accounting. And how it is different from the heterodox perspective. Today I've shared a post about EU interest Payments in % of GDP “Public-debt-to GDP can be a misleading metric in assessing debt sustainability; it does not account for interest payments!" (https://twitter.com/heimbergecon/status/1330806100992651264) I got this reply from a banking consultant: “This is a terrible argument because it ignores both the impact on investment appetite of the destruction of the time value of money, and the misallocating to the public sector of a disproportionate share of available funds, starving the private sector and disrupting the yield/safety/liquidity equation." … My answer: Dear Bob Lyddon, there is no tradeoff between funds spent into the public or into the private sector. This is because the public sector, the government creates those funds as it spends. This at least is true if the government has a sovereign currency, a central bank and a treasury. As shown in the Sectoral Balance View of National Accounts: (S – I) + (T – G) + (-CAB) = 0 Meaning: The private domestic financial balance (household savings minus private investment, S - I) plus the government financial balance (gov. tax revenue minus gov. spending, T - G) plus the current account balance (- net exports + net external income flows, CAB) equals zero Meaning: The public sector deficit must be the income of the other two sectors. This is an accounting identity. It is true by definition! With external trade in balance, the government deficit must be the private sector income! Asking the government to reduce its deficit equals asking the private sector to reduce its total income!

Christianity-Transforming Lives for the Cause of Christ

The post Biden's America: Economic Armageddon appeared first on The Financial Guys Podcast.

The Federal Government has declared that Australia is in a recession, ending 29 years of uninterrupted economic growth.

The Chairman of the FED was out today trying to convince us all that they've got this house of cards under control. The truth of the matter is they are setting us up for economic disasters on the federal, state, and local levels. Will pension funds be the next economic shoe to drop?

This is an analysis of the madness that's taking place around me. Plus chickens, dairy cows, growing my own veggies and some other positive things that have taken place. About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or business structure advice for a tradesman, Kym uses his decades of experience to develop plans for prosperity. As a Fellow Chartered Accountant qualified in financial services and mortgage broking, Kym offers holistic financial advice. A big believer in disruptive technologies, Kym has also developed his own accounting software and is a Xero certified adviser. More than just an accountant, Kym is successful property developer, builder and business mentor. Applying the advice that he gives clients daily, Kym has turned his first property purchase into a multi-million dollar residential and commercial portfolio. And as a qualified builder, he’s not afraid to get hands on with his property developments. As a proven success, and with diverse experiences and expertise, Kym is also a respected mentor to a number of business owners and entrepreneurs. Fellow Chartered Accountant Bachelor of Commerce (Accounting) Bachelor of Economics Xero Qualified Certificate IV in Financial Services Diploma of Mortgage Broking Management Credit Representative of BLSSA Pty Ltd Want to connect with Kym? Visit accountinginsider.net & nitschkenancarrow.com.au Produced by Justin Broughton at VisionWorks Visit www.vision-works.com.au

Is American retail about to go through its most apocalyptic change since the invention of Main Street, U.S.A.? Larry Ingrassia, a former editor at The New York Times, the Wall Street Journal and the Los Angeles Times, joins Nick to talk about his new book, "Billion Dollar Brand Club," to discuss how the country’s corporate giants are finally getting what they deserve, how the Razor Wars, Mattress Wars, and Eyeglass Wars are a sign of what's to come for businesses everywhere, and why Trump's economic upswing will inevitably eventually fall. Learn more about your ad choices. Visit megaphone.fm/adchoices

The economy is always on a roll-a-coaster.  It seems that nothing is stable anymore.  Does the bible have anything say regarding the economy.  Without question, it surely does.  Evangelist Waller has done a deep dive into this subject.  You don't what to miss out.  

2004-05-01 - Coast to Coast AM with Art Bell - Joe Meyer - Economic Armageddon

Passage: Revelation 18:1-18 Preacher: Derrick McCarson Series: Revelation: Return of the King Category: Prophecy , End-Times, Revelation Summary: The book of Revelation devotes two chapters, 17 & 18, to the destruction of the Antichrist’s worldwide empire of the last days. Chapter 17 focuses on God’s judgment of Babylon’s idolatrous religion, while chapter 18 describes how God brings down Babylon’s commercial and financial sector. Like Humpty Dumpty who had a great fall, the Antichrist and the crown jewel of his kingdom, Babylon, will fall and no one will be able to put them back together again!

Police raids and war - financial elite prepare for economic Armageddon Presented by Robert Barwick and Craig Isherwood

1. Bankers rigging Australian Senate Glass-Steagall inquiry—get them out! 2. Countdown to economic Armageddon Presented by Robert Barwick and Craig Isherwood

Where has the time gone? It was ten years ago this week that the U.S. financial system was brought to its knees. To help us retrace the events of that period, we’re joined today by Gretchen Morgenson, investigative reporter at the Wall Street Journal. As the financial crisis was unfolding, Morgenson was working for the New York Times, and subsequently co-authored Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon. There’s no one more qualified to walk us down memory lane and remind us of just how bad things actually were. In case you’ve forgotten, consider this timeline: 9/15/2008: Lehman Brothers files for Chapter 11 bankruptcy protection. On the same day, Bank of America announced its intent to purchase Merrill Lynch for $50 billion.9/16/2008: The Federal Reserve Board authorized the Federal Reserve Bank of New York to lend up to $85 billion to AIG under Section 13(3) of the Federal Reserve Act.9/16/2008: The net asset value of shares in the Reserve Primary Money Fund fell below $1 per share, primarily due to losses on Lehman Brothers commercial paper and medium-term notes. When the Reserve fund “broke the buck,” it caused panic among investors who considered money market accounts nearly the equivalent of bank savings accounts.9/19/2008: To guard against a run on money market funds, the Treasury Department announced that it would insure up to $50 billion in money-market fund investments at companies that paid a fee to participate in the program. The year long initiative guaranteed that the funds' values would not fall below the $1 a share.9/20/2008: The Treasury Department submitted draft legislation to Congress for authority to purchase troubled assets (the first version of TARP).9/21/2008: The Federal Reserve Board approved applications of investment banking companies Goldman Sachs and Morgan Stanley to become bank holding companies.All this in just one week!! An incredible moment in the history of this country, and it was only ten years ago. If you have a money question, just email me! “Better Off” is sponsored by Betterment. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. Connect with me at these places for all my content: http://www.jillonmoney.com/  https://twitter.com/jillonmoney  https://www.facebook.com/JillonMoney  https://www.instagram.com/jillonmoney/  https://www.youtube.com/c/JillSchlesinger  https://www.linkedin.com/in/jillonmoney/  http://www.stitcher.com/podcast/jill-on-money  https://apple.co/2pmVi50

We are told by the Turnbull Government that the e…

On this week's special presentation, Robert Barwick interviews economist John Adams on the looming threat of economic armageddon

1. New 'economic armageddon' warning for Australia 2. Who is telling us to fear China? Presented by Elisa Barwick and Craig Isherwood

This much we know: The Equifax data breach is bad. How can the credit bureaus, who have been described as the “plumbing” of our financial system, show so little regard for the people whose data they collect? New York Times columnist Gretchen Morgenson says it’s simple: We are not their customers, we are their product. Morgenson writes the Fair Game column. Her most recent book is Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon.  In the Spiel, the Jimmy Kimmel test.  Learn more about your ad choices. Visit megaphone.fm/adchoices

This much we know: The Equifax data breach is bad. How can the credit bureaus, who have been described as the “plumbing” of our financial system, show so little regard for the people whose data they collect? New York Times columnist Gretchen Morgenson says it’s simple: We are not their customers, we are their product. Morgenson writes the Fair Game column. Her most recent book is Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon.  In the Spiel, the Jimmy Kimmel test.  Learn more about your ad choices. Visit megaphone.fm/adchoices

With statements like "I beat China all the time!" and "I could shoot someone and not lose voters!" potential future US Prsident Donald Trump epitomises all that is great about America, if by the word 'great' you mean 'mindnumbingly idiotic'. The good news, however, is that most of the other potential POTUS' are an equally horrible lot, so at least there's some consistency. If it is true that the people of a country get the leaders they deserve, then what does the line-up for the next...

With statements like "I beat China all the time!" and "I could shoot someone and not lose voters!" potential future US Prsident Donald Trump epitomises all that is great about America, if by the word 'great' you mean 'mindnumbingly idiotic'. The good news, however, is that most of the other potential POTUS' are an equally horrible lot, so at least there's some consistency. If it is true that the people of a country get the leaders they deserve, then what does the line-up for the next...

With statements like "I beat China all the time!" and "I could shoot someone and not lose voters!" potential future US Prsident Donald Trump epitomises all that is great about America, if by the word 'great' you mean 'mindnumbingly idiotic'. The good news, however, is that most of the other potential POTUS' are an equally horrible lot, so at least there's some consistency. If it is true that the people of a country get the leaders they deserve, then what does the line-up for the next...

Today on The Larry Kudlow Show, Larry talks with Kori Schake, Research Fellow at Hoover Institution. Also on the show is Arthur Brooks, author of NEW BOOK: "The Conservative Heart: How to Build a Fairer, Happier, and More Prosperous America." Kevin O'Leary, author of "Cold Hard Truth on Men, Women and Money 50 Common Money Mistakes and How to Fix Them" and Jack Bouroudjian, author of "Secrets of the Trading Pros" join Larry. More great guests include Josh Rosner, author of "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon" (co-authored with Gretchen Morgensen) As always, the money/politics panel with James Pethokoukis and John McIntyre. All this and much more on The Larry Kudlow Show!

Today on The Larry Kudlow Show, Larry talks with Kori Schake, Research Fellow at Hoover Institution. Also on the show is Arthur Brooks, author of NEW BOOK: "The Conservative Heart: How to Build a Fairer, Happier, and More Prosperous America." Kevin O'Leary, author of "Cold Hard Truth on Men, Women and Money 50 Common Money Mistakes and How to Fix Them" and Jack Bouroudjian, author of "Secrets of the Trading Pros" join Larry. More great guests include Josh Rosner, author of "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon" (co-authored with Gretchen Morgensen) As always, the money/politics panel with James Pethokoukis and John McIntyre. All this and much more on The Larry Kudlow Show!

How could the real estate market in only 4 essential states in the US have caused the Global Meltdown of 2008? How could an over-inflated stock market in the US in 1929 have caused the worldwide Great Depression of the 1930's?How is it that small bubbles in any asset base can take down an entire global system? It only really happens when the banking system buys into the bubble, and then grows Too Big to Fail! In this episode of Straight Talk Wealth Radio, host Bruce Weide explores what has changed in the US banking system since the 2008 Meltdown, and (shockingly) what has not. For his research, he turns to 4 authorities who have studied the banking meltdown extensively, from the inside and out. FEATURED ON THIS EPISODE,The words of: Sen. Elizabeth Warren (as interviewed by Charlie Rose on the release of her new book, A Fighting Chance): One of the most outspoken prophets of the 2008 Banking Crisis and the risk that the mortgage industry was involved in. She is a current co-sponsor with Sen John McCain of national legislation to bring back the Glass-Steagall Act of the Great Depression era which placed a virtual firewall between commercial banks, and investment markets. David Stockman (as interviewed by Bill Moyers) Former White House Budget Director under Ronald Reagan, and recent author of The Great Deformation: The Corruption of Capitalism in America. Today he is an outspoken critic of the massive Quantitative Easing money-printing experiment of the Federal Reserve Bank. Gretchen Morgenson (as interviewed by Bill Moyers): N.Y. Times reporter and author of Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon. She has exhaustively investigated the role of Fannie Mae and Freddie Mac in the Mortgage Meltdown of 2008. William Isaac (as interviewed on Newsmax TV): Former Chairman of the FDIC (appointed by Ronald Reagan), the very agency entrusted to regulate bank risk. Author of Senseless Panic: How Washington Failed America, Mr. Isaac gives a deep insiders view of effective bank regulation in a free market economy, and how the mistakes made in the Panic of 2008 failed to reset our economy. What's most amazing amongst these authorities from both, the Left and the Right, is how much they agree! Hear this Straight Talk Wealth episode today, before it becomes tomorrow's lead economic news story in the next meltdown!

It's another episode of Greedy Bastards Antidote. Today, we're talking about credit default swaps -- Greedy Bastards' favorite financial innovation of the past ten years. Think of a swap as an opportunity for financial companies to sell insurance on credit. In this podcast, you'll learn exactly what credit default swaps are, and why they're dangerous to our economy. Our guest is Gretchen Morgenson - Gretchen is a business reporter/columnist at the New York Times where she also serves as Assistant Business and Financial Editor. She is co-author with Josh Rosner of the bestselling book Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon.

Gretchen Morgenson, a business columnist for the New York Times, discusses her new book "Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon." To learn more about Ms. Morgenson, visit http://nyti.ms/nwMU6x.

  Wake up America With each passing day, it becomes more apparent than ever that the America of our fathers and our grandfathers is gone forever. Dramatic signs of moral decline leap from the headlines on a daily basis now, and all of these signs lead to one inescapable conclusion: America is in trouble. There's trouble in Obama's Paradise: Conservative news junkies are well apprised of President Obama's craven betrayal of the nation of Israel (vis-à-vis his declaration that borders for Israel and a new Palestinian state should be based on those in existence in 1967), as well as his having subsequently backpedaled those statements in the face of a popular backlash. Now, they are witnessing the likely disintegration of American Jewish support for Obama; since most American Jews are not blind leftist ideologues, they are beginning to seriously question the president's Israel policy and perhaps his very worldview where the Jewish people are concerned.

  Wake up America With each passing day, it becomes more apparent than ever that the America of our fathers and our grandfathers is gone forever. Dramatic signs of moral decline leap from the headlines on a daily basis now, and all of these signs lead to one inescapable conclusion: America is in trouble. There's trouble in Obama's Paradise: Conservative news junkies are well apprised of President Obama's craven betrayal of the nation of Israel (vis-à-vis his declaration that borders for Israel and a new Palestinian state should be based on those in existence in 1967), as well as his having subsequently backpedaled those statements in the face of a popular backlash. Now, they are witnessing the likely disintegration of American Jewish support for Obama; since most American Jews are not blind leftist ideologues, they are beginning to seriously question the president's Israel policy and perhaps his very worldview where the Jewish people are concerned.

Join Gottlieb, Ed Encho and I as we cheerfully discuss the many faces of the coming Armageddon. Fascism is on the March, we have troops taking over Iowa towns, soldiers on active duty in country, military training its F.N.G. grunts to be used on US citizens and a planned takeover for "cyber security" our internet. Habaes corpus, Posse Comitatus, the Constitution, all slain by the Police State coming to a town near you!!!! The Pentagon investigating the Pentagon says Gitmo is A-Ok!!! Feel safer yet? Which Global trigger will start WW3? Hill growling at Israel, Israel wiping out all the Palestinians, both of us saber rattling at Iran? Pakistan, Afghanistan, where's Bin Laden and why did he kill Kenny? For an even more enjoyable "twelve gauge enema" we will be discussing the Economic Armageddon to come, replete will ball-hanging a few bankers!!!! Come one, come all. Who says the End Times can't be rantilicious fun?!?!?!

The 46th ever Bugle podcast, from 2008. Written and presented by Andy Zaltzman and John OliverThis is a classic episode from The Bugle, to support us, and to keep the Bugle alive and free of ads, please visit http://thebuglepodcast.com/ Hosted on Acast. See acast.com/privacy for more information.