An Intro to ‘The Unsustainable Trajectory of America’s Economy’


Intro By John R. Houk

Original post by Justin O. Smith

Intro © February 19, 2020

 

As a Conservative in 2016 I was a Cruzer (Ted Cruz). After Cruz’s mathematical elimination from winning the GOP nomination, only then did I support Donald Trump.

 

In my mind Trump did not fit my image of a guy that supported Christian causes such as Christian religious freedom, Pro-Life, Pro-Israel, Pro-Originalist Judges and Anti-LGBTQ (who desire the destruction of Christian morals in America. Trump early got on board with Conservative thoughts on illegal immigration and the craziness of importing American-Culture-hating Muslim refugees. That got my attention.

 

I’m a limited government, Balance the Budget, Bring down deficit spending guy too; but the above issues I listed are more important to me. Trump has delivered or at least worked hard in the face of Dem obstruction to deliver on my primary list of concerns (although Trump seems a bit wishy-washy on LGBTQ morality). Lately President is even vocally lining up behind pro-2nd Amendment issues.

 

For Conservatives that economics is a primacy, President Trump’s economic actions pertaining to Budget issues should be a huge waving red flag. Trump’s centrist perspective could produce big problems for America after a Trump second term in Office (YUP, I’m still voting Trump). Justin Smith effectively goes over those budget red flags.

JRH 2/19/20

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The Unsustainable Trajectory of America’s Economy

 

By Justin O. Smith

Sent 2/14/2020 10:38 PM

 

“The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who fund their bailout, are true. It really happened. These suspicions are valid.” ~ Neil Barofsky, TARP Inspector General [Wikipedia info]

 

America is witnessing President Trump’s “I’ve abandoned free market principles to save the free market system”” moment, similar to former President George Bush on November 16th 2008 and the high-speed implementation employed by former President Obama in 2009, as Trump presented his 2021 Budget and a $4.8 trillion spending plan to the press on February 10th. It is a farce of a “budget”, since it doesn’t even balance until 2035, according to the Wall Street Journal, and it sells America a load of economic crap, that includes the same old out-of-control socialist spending, now adopted by the Republican Party too, minus the taxes, and certain to harm America; given the socialist trends in the ranks of the Millennials, the Democrats are certain to hold the White House during a few of these years and take full advantage of Trump’s lapse in judgement on this issue.

 

On January 18th 2020, the Washington Post reported: “To those who criticized his spending and the growth of the national debt, Trump said: ‘Who the hell cares about the budget? We’re going to have a country.’

 

For most of President Barack Obama’s time in office, Republicans seemed to care very much about the budget, making fears around the national debt and deficit their top talking point. They’ve backed off those concerns under Trump.”

 

President Trump’s proposal will run a near trillion dollar, $996 billion [Blog Editor: I couldn’t locate “$996 billion” figure nonetheless there are a plethora of sources predicting a near or over a Trillion dollar deficit for 2020; e.g.: fxstreet.com, MarketWatch.com, baynews9.com, cbo.gov and more], deficit next year, just as he did in the previous years of his administration, that is close to fifty-percent higher than the $666 billion deficit Trump inherited from President Obama in 2017. Federal spending will accelerate from $4.6 trillion next year to more than $6.5 trillion in 2030, and the proposed cuts to be made by Congress in this year’s budget are not significant enough to offset the recent spending increases Trump has approved since taking office.

 

And all of this with our national debt at over $23 trillion, rapidly on its way to $24 trillion.

 

Has America so soon forgotten the worse economic recession since the 1930s — the 2008 economic collapse and the collapse of fifty percent of the stock market — and the terrible risks banks and businesses took that created it? Not much has changed, because many of the financial markets proceeded, from the first day of the bailout, that followed, to the present, with the same exact risky practices. They know the government, essentially the U.S. taxpayer — the American people, will bail them out again, that is if there’s any money or credit line available for a bailout, which is going to be unlikely.

 

Midway of 2008, the United States’ national debt was approximately $9.4 trillion and right at 65 percent of the Gross Domestic Product. Consumer debt stood at $2.7 trillion, while the total credit market debt had peaked at $54 trillion. And mortgage debt was a massive $14.8 trillion, as the Federal Reserve balance sheet remained below $900 billion as it had for years.

 

Most logical minded Americans believed then and now that there is not any such thing as “too big to fail”, and they thought the regular bankruptcy laws could have handled the situation and allowed the crisis to settle itself. People understood that liquidating bad debt and expunging it from the system would reset the economy forcing corporations and consumers to live within their means and act conservatively, using debt wisely for real needs, and most of us saw that as the best road to take for America’s future.

 

AIG, Lehman Brothers, Goldman Sachs, Citicorp, Bank of America and several other “too big to fail” banks were bankrupt by September of 2008. They should have been liquidated through existing bankruptcy law, and their assets should have been sold to still reputable banks that had not undertaken fraudulent risks, that hit their investors with devastating consequences.

 

Nobody in 2007 would have ever forecast that the national debt would climb to over $23 trillion during the past twelve years, or that the national debt would be 105 percent of GDP, with consumer debt exceeding $4 trillion. The ruling class “elite” of both parties have had their propaganda machines operating at warp speed to convince Americans that somehow $1 trillion annual deficits are normal and sustainable.

 

Never underestimate the ability of this president, or any president, or any Congress and the Federal Reserve to take outrageous and reckless steps to convince America that the abnormal is really normal. One should always keep in mind the egregious $700 billion TARP bailout and the lies and threats Hank Paulson perpetrated in order to protect his billionaire pals, whenever one gives scrutiny to today’s events.

 

[Blog Editor: Articles examining Hank Paulson:

 

 

 

 

 

President Donald Trump promised to eliminate the national debt in eight years, and although I thought it was an impossible task at the time, I did think Trump might reduce spending quite a bit, along with reducing annual deficits. He was constantly haranguing the Federal Reserve’s moves to keep interest rates at an unsafe level, which created a stock market bubble and contributed to the exorbitant rise in debt; and, one would have thought that after experiencing one Federal Reserve induced market crash after another, the American people would have realized this gross rise in debt since the 1990s had to end.

 

But Trump’s relationship with the Truth is something far less than stellar, and for him, it is something to manipulate at the drop of a dime and to shift in content depending on the President’s immediate need and desired effect. And over the years, he has used this manipulation to bend Fed puppet, Jerome Powell, to do his bidding, after finding the Fed’s 2.25 percent rate increase too much to handle.

 

In July 2019, President Trump stated: “The U.S. economy would grow more quickly if monetary policy were eased. If we had a Fed that would lower interest rates, we would be like a rocket ship. We don’t have a Fed that knows what they’re doing. Our most difficult problem is not our competitors, it is the Federal Reserve. The Fed raised rates too soon, too often, and doesn’t have a clue!”

 

That’s quite contrary to what Candidate Trump was saying on the campaign trail in September 2016, when he stated: “They’re keeping the rates down so that everything else doesn’t go down. We have a very false economy (J. Smith: something I’ve stated for years now). At some point the rates are going to have to change. The only thing that is strong is the artificial stock market. The U.S. economy is in a big, fat, ugly bubble. I will get rid of the nation’s more than $19 trillion national debt over a period of eight years. I’m renegotiating all of our deals, the big trade deals that we’re doing so badly on. (J. Smith: And still are, i.e. USMCA)

 

Will the Real Donald Trump please stand up? It’s almost as though we have a president with multiple personalities, at least two at conflict with one another.

 

Trump’s proposed $4.4 trillion cuts to domestic spending, including $2 trillion in promised savings from entitlement programs, with some $844 billion cuts to Medicaid and $750 billion to Medicare spread over the next decade. With Congress unlikely to cooperate on this and Trump unwilling to spend too much political capital on it, this will probably fall by the wayside. After calling for fairly large domestic spending cuts in 2018, Trump still signed a deal in 2019 that added $320 billion in spending and demolished previous spending caps.

 

And even when Republicans controlled both the House and the Senate, they still agreed to a bipartisan budget that increased domestic discretionary spending in all government departments, especially the Pentagon. They essentially refused to cut the State Department’s and the Environmental Protection Agency’s budgets, so whether they follow through with cutting the EPA by 26 percent in this budget is anyone’s guess.

 

Ironically, on February 4th, when Pres. Trump was practicing his State of the Union Speech for twenty Republican supporters, former Congressional deficit hawk, Mick Mulvaney, head of the Office of Management and Budget, argued there wasn’t any need to mention the growing deficit, because :nobody cares” about it. That’s a one-hundred and eighty degree turnaround since he campaigned to earn his spot over the OMB and a time he made deficit reduction his “central policy concern.” Mulvaney’s change of heart seems to have coincided with the Republican Tax Cuts and Jobs Act.

 

And, on February 7th 2020, Vice-President Mike Pence told MSNBC’s audience that deficits can help boost economic growth, which proves beyond a shadow of a doubt that the Republican Party, or at least Trump’s Republican Party, has now seeming embraced socialist and Keynesian economics and notions on spending. This same argument used by Leftists across America used to drive Republicans to some great degree of anger, whenever it was stated by Obama and his staff.

 

[Blog Editor: Economics theory hurts my brain. Simplistically, choice in supply and demand good. Being told what, when, or able to buy – bad. To those of you who like to hurt your brain, here are some Mises Institute economics critical of Keynesian economics (article, audio, pdf-book & video):

 

 

 

  • The Critics of KEYNESIAN ECONOMICS; Edited with an Introduction and new Preface by HENRY HAZLITT; Published by The Foundation for Economic Education, Inc. – 439 page pdf on Mises Institute; ©1995 – Originally published 1960 by D. Van Nostrand Company, Inc.

 

 

 

Posted by misesmedia

88.4K subscribers – Jul 30, 2019

 

Recorded at the Mises Institute in Auburn, Alabama, on 18 July 2019.

 

Mises University is the world’s leading instructional program in the Austrian school of economics. Mises.org/MU19]

 

 

The federal subsidies are still flowing to the Repurchasing Markets at $100 billion a day, as they have since October, so corporations can buy back billions of their own stock, resulting in the artificially high stock market, the highest valuations since 2000. And in the meantime, the military is getting anything and everything it wants, as America continues to act as the World’s Policeman and our entitlement payouts are constant and on an unsustainable trajectory, as President Donald John Trump and all the feckless Congressmen in Washington, D.C. pretend all is well.

 

Despite boasts of the “Greatest Economy Ever”, record corporate profits, stock market the highest ever, lowest unemployment in history and the Federal Reserve balance sheet at $750 billion, approximately $150 billion lower than normal, and interest rates still at emergency levels, somehow the Federal Reserve feels compelled to cut rates and restart Quantitative Easing, although they are not using that terminology. Powell is taking Trump’s orders and acting in a way that is only ever seen during a recession or a financial crisis.

 

Several successive administrations have used every debt based solution for this debt based crisis in their attempt to avoid another 1930s style Depression, but essentially, they have merely ensured that the next collapse is going to be exponentially much worse than it has to be. And the angst and divisions in our society are only compounding the situation through a whispered promise of impending catastrophe that sweeps the existing social order away in a chaotic cataclysm of death and destruction and all-out war.

 

America’s future is being stolen and sold. The future of America’s children is being stolen and sold. America is being sold down the river, pillaged and raped, by the few at the top, the “elite” ruling class, at the expense of the American people, in an egregious manner that harms all society and America during the long journey ahead towards our eventual rise from the ashes of the coming economic chaos.

 

By Justin O. Smith

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BLOG EDITOR: I’ve apparently been placed in restricted Facebook Jail! The restriction was relegated after criticizing Democrats for supporting abortion in one post and criticizing Virginia Dems for gun-grabbing legislation and levying protester restrictions. Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me completely. Conservatives are a huge portion of Facebook. If more or all Conservatives are banned, it will affect the Facebook advertising revenue paradigm. SO FIGHT CENSORSHIP BY SHARE – SHARE – SHARE!!! Facebook notified me in pop-up on 1/20/20: “You’re temporarily restricted from joining and posting to groups that you do not manage until April 18 at 7:04 PM.”

_______________________________

Edited by John R. Houk

Text embraced by brackets and source links are by the Editor.

 

© Justin O. Smith

 

An Intro to ‘Liberty Violated’


Intro by John R. Houk

By Justin O. Smith

Posted January 3, 2020

 

I am still a huge Trump supporter! Nonetheless President Trump has supported and/or signed some anti-Conservative legislation lately. This has given rise to anger by many all-or-nothing Conservatives particularly in the areas of National Sovereignty and Spending (can you bursting out of control National Debt?).

 

My primary blog contributor Justin Smith appears to have joined the ranks of Conservatives with frankly legitimate concerns of recent Trump-supported legislation. I am in the camp where Trump pro-Patriot actions still outweigh the recent stupid Trump decisions. NEVERTHELESS, Trump support of globalist USMCA will quite probably lead to National Sovereignty and Rule of Law problems to our U.S. Constitution in the long run from an Originalist perspective (probably less concerns from Republic-destroying supporters of a Living Constitution perspective). A fantastic Originalist discourse is HERE.

 

On a personal level I’m not ready to toss President Trump under the bus for policy errors – YET. The source links that support Justin Smith’s commentary will show my support of Trump more than my disappointment. If Trump’s trend continues with bad decisions Impeachment will not be the solution. Rather your votes for Representatives and Senators will decide America’s fate. I for one will be voting Trump in 2020. Hopefully a 2024 Conservative POTUS candidate emerges supporting the Trump good actions while reversing any bad Trump decisions.

 

ANY election of the Dem Party’s current Left-Wing Globalist candidates in Congress or POTUS will doom the American Republic to a government telling people how to live whether they like it or not.

 

JRH 1/3/20

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Liberty Violated

The Constitution Has Been Perverted and Bastardized – Could this Lead to the End of Liberty?

 

By Justin O. Smith

Sent 1/1/2020 12:28 AM

 

In an ever-changing, incomprehensible world the masses had reached the point where they would, at the same time, believe everything and nothing, think that everything was possible and that nothing was true. The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated communist, but people for whom the distinction between fact and fiction, true and false, no longer exists.” ~ Hannah Arendt

 

President Donald J. Trump has done some fine things in the domestic and foreign policy arenas, but even so, despite what the nearly 63 million Americans who voted for him believe, President Trump is not the best thing in America to have come along since sliced white-bread. Unfortunately, with each passing day, he has proven himself to be the Big Spending, Big Government fascist that I knew him to be in 2015. Regardless of his “good deeds”, any American, who stays silent in the face of this president’s current harmful executive orders and signed pieces of legislation, such as the recent Omnibus bill that he signed on December 20th 2019, is not a conservative or a patriot, and their silence does the nation a great disservice, no matter how “great” anyone may view Trump at this moment in history, and no matter Trump’s claim of the “conservative mantel”.

 

America has also just witnessed the passage of the worst so-called “trade agreement” ever negotiated in U.S. history on December 19th 2019 — the United States-Mexico-Canada Agreement [USMCA] — with President Trump’s enthusiastic support, even though it was negotiated by Obama era bureaucratic holdovers, the same exact negotiators responsible for the Trans-Pacific Partnership. The USMCA kills individual liberty in America, facilitates Open Borders and subverts our Constitution and national sovereignty, as it also coincides nearly verbatim with approximately seventy percent of the TPP, an agreement that Trump once called “a fraud” and “one of the worst trade deals”.

 

If this is an example of President Trump’s great negotiating skills, America’s confidence in him is misplaced.

 

America was so focused on all the Congressional impeachment drama, that nobody seemed to notice when the so-called “good guys” and “bad guys” sat down to carve up another great portion of America’s wealth. After the House voted completely along party lines to impeach President Trump and the historic dust settled, both the fraudulent champions of Conservatism in the GOP and the Democratic Party Progressives, the mortal enemies of America’s Founding, set aside all differences to pass another record breaking spending bill, with a mere 24 hours of review and “discussion”, that is so massive, its 2100 pages had to be split into twelve packages — gifts, if you will — to conceal the fact that President Donald J. Trump, the “Conservative”, has just signed the two largest spending packages in United States History, totaling $1.4 trillion dollars.

 

Not one Congressman could have had the time to properly review this albatross in a 24 hour period. It isn’t any wonder that so much that is so detrimental to America’s well-being was allowed to creep into U.S. law via this outrageous act.

 

Although President Trump eradicated thousands of federal regulations, upon taking office, the results of many of his most recent bills are adding thousands more. Some of the detrimental effects will arise in the same way we saw through the struggle over property rights between the Hammond and Bundy Families and the Bureau of Land Management [BLM], since both the USMCA and this recent Omnibus bill undermine private property rights.

 

[Blog Editor: The BLM has been a tool of globalism and Marxist Environmentalists:

 

 

 

 

 

Excerpt:

 

 

As neighboring Wyoming’s economy, dependent on open pit coal mining, is perched on the edge of a free fall as the market for coal shrinks, Gianforte and Daines, the self-described high-tech mavens, seemed to have learned nothing.

 

Both are avidly supportive of not only Trump Administration attacks on environmental protection but some of the President’s political appointees whose ideology is sympathetic to selling off public lands and making them available to the equivalent of 21stcentury robber barons who again will treat the West as a natural resource colony.

 

 

Also in that list come all of the natural resource industries—timber, precious metals, coal, and to some degree, grazing. You may have heard how Acting Secretary of the Interior David Bernhardt, in what can only be seen as a second tier appointment, recently named William Perry Pendley acting Director of the Bureau of Land Management. The move required no approval from the Senate and Pendley’s appointment may last only until this autumn.

 

Daines claims concerns about Pendley are “overblown” but how can he ignore the symbolism of the move, putting an anti-public lands ideologue in place to oversee public lands that figure at the heart of Western identity?

 

Historically, Pendley hostile attitude toward public land and federal land management has been demonstrated over years, as a force with the Mountain States Legal Foundation, which has advocated for getting rid of our federal public patrimony.  Recently, in the Bozeman Daily Chronicle, an op-ed written by Ben Gabriel of the Montana Wilderness Association and Dave Chadwick of the Montana Wildlife Federation came with this headline: “Would we put an arsonist in charge of fire department?”

 

In a separate piece, New York Times columnist Timothy Egan wrote an essay titled “The Great Western Public Land Robbery” and subtitled “Trump’s pick to be the steward of America’s public lands doesn’t believe in public lands.”

 

 

“But you have to go pretty deep into the ranks of the Worst People to find someone equal to the man Donald Trump has now put in charge of your public lands — William Perry Pendley. The man now overseeing 245 million acres owned by every American citizen is a mad-dog opponent of the very idea of shared space in the great outdoors. He has spent his professional life chipping away — in court, in public forums, in statehouses — at one of the most cherished of American birthrights.”

 

… YOU CAN READ the whole anti-Trump Leftist diatribe HERE

 

Sounds like President Trump is still irking enviro-Marxists to me with the appointment of William Pendley.]

 

U.S. Map of Federal owned-controlled land

 

The Environmental Protection Agency received $9 billion, a $240 million increase over last year, and the Bureau of Land management received a two percent increase. And the Land and Water Conservation Agency received a whopping $500 million, no doubt so they can continue to tell Americans they can’t collect rain-water in barrels, as they have been aligned with UN Agenda 21 mandates for many years, advocating for the same “sustainable development” and the International Council for Local Environmental Initiatives, also a UN creation, that killed jobs and farming for decades in any area that utilized these policies; these policies are also currently a part of the anti-sovereignty, anti-American USMCA.

 

John Adams, the second U.S. President, once proclaimed: “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence. Property must be secured or liberty cannot exist.”

 

Exuding an abundance of brilliance and wisdom, James Madison asserted: “Government is instituted to protect property of every sort …. (including personal firearms) …. this being the end of government, that alone is not a just government, …. nor is property secure under it, where the property which a man has in his personal safety and personal liberty, is violated by arbitrary seizures of one class of citizens for the service of the rest.”

 

In light of the Democratic Party majority in Virginia recently stating their intentions to confiscate their citizens’ firearms through newly proposed illegitimate legislation and “law”, all Americans who value freedom and liberty should be highly alarmed by their statements, when viewed in conjunction with two sections of the December 20th Omnibus. In the name of fighting “gun violence”, this bill robs the American taxpayers’ and their grandchildren of $22.5 billion. This money is set aside for the FBI, ATF, DEA and the US Marshall Service, so they can target our right to keep and bear arms.

 

Neatly hidden within this 2100 page [217 page summary] monstrosity are a few lines with ominous implications. Along with granting the ATF and FBI greater finances to “combat gun violence”, the Center for Disease Control and the National Institute of Health are receiving $25 million for their new mission to gather data on gun violence as if it were an epidemic or national health crisis, in order to justify any future advocacy for stricter gun control initiatives and measures. And as the Democrats are salivating and wetting their pants over this new good fortune that’s dropped in their laps, the ATF — the militant branch of firearm control — receives nearly one billion dollars, an increase of $50 million over last year, to target “criminal firearm possession”, something that is ever increasingly becoming more subjective; the FBI will receive $131 million to run background checks, which sounds like far too much to just field calls on firearm purchases.  All of this aligns with Trump’s criminalization of bumpstocks and his amenable attitude to the circumvention of “due process” and “red flag laws”, as these federal agencies are receiving a pretty vague mandate from the Trump White House to “find illegal guns and take them”.

 

One should also note, although President Trump has been extremely successful at manipulating the economy and keeping America safe from her foreign enemies, he has violated the 4th Amendment by signing H.R. 76, that granted warrantless searches of houses and businesses in proximity to the D.C. Metrorail [Blog Editor: Justin is quite in HR 76 violates the 4th Amendment. Ergo I expect a SCOTUS challenge more than likely by a monied criminal caught in an HR 76 crime search], and by way of his signature on the Foreign Intelligence Surveillance Act Reauthorization, which now allows all U.S. citizens to be placed under NSA surveillance, along with the foreign nationals it was originally created to address, among several other failures regarding the Bill of Rights.

 

Among many other detrimental edicts, this albatross bill hands the Department of Energy three billion dollars to research more efficient means of producing renewable energy. It also pays additional funds to NASA, the Department of Transportation and the Department of Indian Affairs to purchase the less efficient options already available, in order to give further credence and legitimacy to the bunk science of “climate change”.

 

Please take note that on March 23rd 2018, after signing his first massive $1.3 trillion Omnibus bill, President Trump stated: “There are a lot of things I’m unhappy about in this bill. There are a lot of things that we shouldn’t have had in this bill, but we were in a sense forced if we want to build our military …. I said to Congress, I will never sign another bill like this again.”

 

In a manner reminiscent of President George H.W. Bush’s “read my lips, no new taxes” moment and seeming to make peace with The Swamp, President Trump issued the following statement on December 20th 2019, after signing the $1.4 trillion Omnibus: “Taken together, the government funding bills guarantee that critical priorities — investing in the military, ensuring Americans are more prosperous and healthy, delivering border security, engaging in criminal justice reform, and defending life — will be met in the upcoming year …”

 

It’s funny how fallin’ can feel like flying for a little while. [Blog Editor: This line was a part of many Justin Smith suggestions for a title. 😊]

 

Far too many Americans are cheerleading for Trump, when he has actually failed on several of his key campaign promises, such as securing the border and building the wall and ending Obamacare, with one key promise to reduce deficit spending. He could have accomplished all of this, when he had a majority in both the House of Representatives and the Senate; however, today, only work replacing 60 miles of old wall and 98 miles of new wall has been completed, and the American taxpayer is still paying for Obamacare taxes and subsidies for the uninsurable, even though the individual mandate was eradicated. And in the meantime, President Trump’s 2017 Tax Cuts and Jobs Act lowered taxes by trillions of dollars without reducing a dime of spending, and as a result, this administration has already added $5.6 trillion to the national debt.

 

[Blog Editor: To contrast Justin’s dour outlook President Trump failures:

 

 

 

 

Where is the fight for fiscal restraint? It never existed in the Democratic Party and it certainly no longer can be found in the Republican Party. The vote on this last Omnibus was 89 to 8, with three abstentions.

 

The “Great Economy” isn’t all a lie, but neither is the underlying truth being told about it. Many ordinary Americans are doing fairly well, as far as it goes, and as America is being hollowed out. Real economic decline is concealed by institutions that measure only areas that can be manipulated to give a positive result, such as the Consumer Price Index, the unemployment rate, Gross Domestic Product, and hundreds of financial numbers associated with net wealth and bank loans among other items.

 

Does everybody really not see the rise in childcare expenses, college tuition, and rent? They have risen at double-digit rates, while shrinkflation has reduced the quality and quantity of goods, even as the price has remained unchanged, or, in some cases, seen an increase. My own daughter, my youngest, makes a decent salary as an office manager for a great company, but she now pays a hefty $700 per month for daycare for my grandson, in order to be able to work, a significant cut to her salary.

 

Essentially, official statistics are manipulated to give a rosy picture of the economy, even as the nation’s treasury and the U.S. taxpayer are being robbed blind. Americans everywhere sense the disconnect, however, since significant factors aren’t measured, few objective indicators are documenting the decline all Americans experience in their everyday life.

 

And so, Americans are regularly told that they are doing fine, with manageable debt and rising incomes, when in the real world, their auto loan defaults are soaring, forty percent of America’s cancer patients are wiped out by the co-pays, and most “middle-class” households are one layoff or job loss away from default and going broke and to the poor house. [Blog Editor: THESE ARE LEGITIMATE concerns every American should take note! These should be at least a part of the issues in seeking a 2024 POTUS candidate. Depending on the Trump DOJ to hold crooked Dems accountable in 2020 and a Trump reelection, a law and order equal application to crooked Dems may also be a 2024 POTUS campaign issue. OTHERWISE an American Civil War might initiate between 2020 and 2024.]

 

In the fiscal year for 2019, the federal government spent $660 billion on interest payments. This amount very nearly equals the U.S. budget for Medicare, and it is more than what the U.S. spends on education, transportation, housing and agriculture combined. Federal debt held by the public is projected to double between today and 2049, rising from 78 percent of the gross domestic product to 144 percent. So, if fancy accounting is all that is hiding negative growth in the U.S. economy, times can’t be all too good.

 

The Trump tax cuts have really helped big corporations, by granting them subsidies, to help keep them healthy and solvent. This, in part, has benefited ordinary workers by ensuring companies can keep their jobs in place, but salaries have not increased to any significant level over the past decade. This is outrageous, once one considers that in each of the past two years, the U.S. Treasury has written checks of over $100 million checks to Amazon out of our tax dollars. [Amazon—and 56 Other Corporations—Took Your Tax Dollars; By Leo Gerard; Common Dreams; 4/19/19 – Do a page search for “Amazon” for the details.]

 

This helps President Trump grow his political power, because these windfall tax benefits received by large public companies like, Apple, Microsoft and Amazon translate directly into higher stock prices, and in Trump’s own words, “the stock market is my report card”. One can argue whether or not the economy is really doing great, but one can’t argue with a new high for the Dow Jones.

 

Therein lies the problem. Gradually over time, the American people have come to accept the redefining of “capitalism”, by the “elite” oligarchs, to mean “the stock is up”, through indoctrination and propaganda disseminated in the public education and university systems. Capitalism is no longer associated with Adam Smith’s invisible hand or Joseph Schumpeter’s risk-taking investments in the real economy, but simply reduced to only financial asset price inflation in real time, by any means necessary. And so, from the White House to the Federal Reserve Bank to corporate management, in the endless present, America is handed an endless series of policies and decisions in service to capitalism-as-financialization [Blog Editor: So far the closest I could find to the phrase is a reverse order such as “Financialization of Capitalism”. The term implies political power is in the hands of a few Corporate Finance companies ending the individualism of a Market Economy by which American Capitalism had its beginnings. From my brief reading Market Capitalism is transformed more akin to Market Communism with old terminology utilized to mislead the working common man. Example reading below this paragraph], where capital markets are operated as a political organization.

 

[Pro-Globalist/Socialist economic governance publications I gets the idea I believe Justin Smith is trying to alert readers that very well lead to the end of American Liberty if unaddressed:

 

 

 

A quote that should blowup the hairs on neck from the Communist mind-speak using the brainwashing term “Democracy” to justify Socialist-Marxist Globalization governance via a snake in grass economy:

 

Blinded by their own propaganda, theorists, politicians and the general public have embraced a course that threatens the stability and sustainability of Western society. Globalization, financialization, global mergers and acquisitions, shadow banking, international tax havens, the policy bias favoring energy-intensive automation, maximizing share-holder value, state capture, oligarchy and plutocracy have fueled soaring levels of economic inequality and insecurity. More importantly, they have shaken the roots of the social consensus that is the foundation of modern liberal democracies: polarizing and destabilizing society and throwing political processes into chaos. The notion that economics can be divorced and insulated from politics is an illusion. There is no economy without politics and law. A return to unbridled capitalism is threatening the culture of liberal values and the functioning of democratic institutions. … (The Political Economy of Neoliberalism and Illiberal Democracy; By Garry Jacobs; CadmusJournal.org; Volume 3 Issue 3 10/2017 – 20 page pdf)]

 

There isn’t any free market in this nation, using honest money on a level field, as educators and media would have one believe, and there hasn’t been a free market, since 1913 and the creation of the Federal Reserve Bank. Americans live and work in what can only be described as a fascist oligarchy, that relies on the premise of state and corporate partnership, managed trade for special interests. This is what is exacerbating our current economic situation, and taken in conjunction with massive bills that leave the growth of government unchecked, growing the power associated with large government at the expense of individual liberty, Congress is also undermined, while the Executive grows stronger.

 

[Blog Editor: Prior to election as President, Donald Trump’s international interests definitely placed him among international finance. BUT this makes him an enigma as an individual who donates his POTUS salary and has divested control of his international businesses to Make America Great or Keep America Great. At this point in Trump’s life bettering Americans appears more important than his place among the fascist oligarchs. BUT Trump’s recent legislative signatures reverse the MAGA course. If so, I’ll have to listen to Justin Smith say, “Told ya so”.]

 

And in the meantime, the Federal Reserve Bank is still flooding the repurchasing markets with cash and preparing to deliver bailouts of other markets, too. This is a sure sign that the nation is on the path to another economic crisis created by the Federal Reserve Bank’s manipulations of the economy.

 

Reckless policies have created trillions of dollars of bad investments, that will inevitably be liquidated and lead to an economic disaster. This disaster will make the Great Depression seem like a mild event, as our paper currency becomes worthless. Already the signals are rippling across the global markets, as the Euro and the Japanese yen have crashed in value, along with the Canadian dollar losing 26 percent of its value since 2013. The U.S. dollar is currently just the healthiest currency on its way to a death-bed.

 

Designed for a moral society, the imperfect Constitution has been repeatedly dealt thousands of hammer blows on its imperfections by America’s enemies, to the point it is ready to crack and fail. The Constitution has been perverted and bastardized by the nation’s communists, anarchists [Thoughts on Anarchism: HERE, HERE & HERE], Muslims, activist black robes, globalists [Globalist issues examples affecting the Constitution: HERE, HERE & HERE] and statists [Perspectives about Statists: HERE & HERE], all for “the general welfare” of America’s ruling class oligarchs. Its inherent negative power over learned and moral citizens has been fully subverted to the positive endorsement of the whims of those who would be kings and tyrants, incompetents one and all.

 

Americans must find a way back to the moral underpinnings that first led the way for the country, those self-evident truths and the knowledge that God-Given Rights and the Bill of Rights are not to be subverted, that they are inalienable [Blog Editor: To the nitpickers of the usage of unalienable or inalienable, my frame of thought is they are the same]. And as such, refuse to be led any longer by men who would rule over us rather than serve us. Trumpet one’s refusal to obey any rogue government seeks to keep us enslaved at the altar of the state through a fiat currency, financial system and debt Ponzi scheme that is a criminal fraud stealing money from hard-working Americans, and refuse to obey any and all who seek to disarm us by coercion and force.

 

Most of the aforementioned facts could have seen completely different results that supported liberty in every way, if only America had a leader at Her helm who truly loved Liberty and understood its principles, as the Founders understood them. Some of this, people will suggest, was due to opposition in his own party, which is only true in regard to Obamacare’s survival. The rest has been enthusiastically advocated and facilitated by President Donald J. Trump, who never was a conservative and never will be a true conservative, as he continues to have his love affair with the progressive globalist views he held so close in his youth, while Democrats and RINOs make America pay the price in Her slow death by a thousand cuts from anti-American policy, treachery, and treasonous bills. [Blog Editor: The last sentence was also a part of a title suggestion by Justin Smith]

 

Today, America and Her people are facing their most dangerous times, as the far left is positioning themselves for a hard tyrannical push to control all, resources, wealth and people, by a select few, who see themselves as “experts, after President Trump’s second term, utilizing the current existing system. These are the advocates of controlled allocation for society, centrally planned socialism, commanded by a top-down Bolshevik-style Central Committee controlled by the few. And should the ranks of Liberty loving American Patriots keep decreasing, as in recent decades, and fail to halt the Democratic Party communists’ success, it will mark the start of a thousand years of darkness and the end of liberty.

 

By Justin O. Smith

++++++++++++++++++++

Blog Editor: Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me. Recently, the Facebook censorship tactic I’ve experienced is a couple of Group shares then jailed under the false accusation of posting too fast. So I ask those that read this, to combat censorship by sharing blog and Facebook posts with your friends or Groups you belong to.

_____________________

An Intro to ‘Liberty Violated’

Intro by John R. Houk

By Justin O. Smith

Posted January 3, 2020

_____________________

Liberty Violated

 

Edited by John R. Houk

Text embraced by brackets and all source links are by the Editor.

 

© Justin O. Smith

 

A Globalist Anti-American Scheme


If you read my blog it is no secret I am a huge President Trump supporter and regard the leadership of the Democratic Party to be witting and maybe in some cases (though can’t think of any) unwitting transform-America Marxists. BUT I am not a registered Republican.

 

Why?

 

After President Reagan, GOP Presidents and nominees for President have been largely a disappointment to the Originalism of America’s Founding principles (that Dems so often LIE to defend). After McCain and Romney in varying degrees proved to be Republicans in Name Only (aka not loyal to Conservative Americans) losing to an obvious Marxist liar in Barack Hussein Obama (Old SlantRight blog posts on BHO Marxism: HERE, HERE, HERE & HERE) – more race-baiter than friend of Black-Americans, I became a registered Independent. My only regret with that move is in my State that means I cannot participate in Primary elections.

 

As you will recall or discover below, one of President Trump’s campaign issues for 2016 was an anti-NAFTA and anti-TPP stand as a bad deal. So, I’m a bit astounded to-date he is supportive of the equally egregious USMCA globalist/sovereignty robbing deal being pushed seemingly by equal manners in the GOP, the Dems and unsurprisingly by the MSM. Justin Smith exposes a glaringly BAD DEAL.

 

JRH 12/17/19

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Blog Editor: Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me. Recently, the Facebook censorship tactic I’ve experienced is a couple of Group shares then jailed under the false accusation of posting too fast. So I ask those that read this, to combat censorship by sharing blog and Facebook posts with your friends or Groups you belong to.

****************************

A Globalist Anti-American Scheme

President Trump Has Been Duped

 

By Justin O. Smith

Sent 12/16/2019 9:44 PM

 

President Donald J. Trump, “the Great Negotiator”, is touting the worse “trade agreement” in U.S. history, after he and Democrats reached an agreement on the ** United States-Mexico-Canada Agreement [aka USMCA] on December 10th 2019, and if this globalist mess is the best he can do, something is dreadfully wrong within his administration. This agreement is the antithesis of America First and merges the worse parts of NAFTA and the Trans-Pacific Partnership [aka TPP] that was rejected in 2017, and President Trump has either inadvertently taken his eye off the process, as the globalist wolves entered the hen-house, or he is a willing and complicit actor in a process that destroys U.S. sovereignty.

 

In a morning tweet, on December 10th, President Trump hailed the prospect of completing one more campaign promise: “America’s great USMCA Trade Bill is looking good.”

 

Robert Lighthizer, the chief trade official leading negotiations for the U.S., stated: “We have created a deal that will benefit American workers, farmers, and ranchers for years to come. This will be the model for American trade deals going forward.”

 

This egregious piece of legislation is set to go to a vote on Thursday December 19th in the House of Representatives, unless something cancels the vote, according to one staffer in Representative Mark Green’s office, and it more than likely will pass, since, as of this writing, even some Republicans-In-Name-Only, such as Congressman Chuck Fleischmann (R-TN) — Tennessee 3rd District, are currently set to vote in favor of its passage. As an aside, I made sure to tell Rep. Fleischmann’s staffer that I would in fact travel to his area and work against him, if he votes for this deeply flawed, anti-American piece of ill-conceived crap.

 

Americans have continuously been told that this renegotiated deal is all about trade and improving life for all North Americans and Mexicans, but it is more than clear that it is really about control. This “deal” is about the total control of all things and all people that fall under its jurisdiction.

 

A page by page comparison of the 2325 page USMCA and the TPP reveals an extensive overlap. Nearly all the exact same problems inherent in the TPP also are found in the USMCA, in the manifest erosion of national sovereignty, the unrestricted movement of foreign nationals and the de facto facilitation of illegal immigration, collective bargaining for workers and measures to combat climate change.

 

According to ** this study — How much of the Transpacific Partnership is in the United States-Mexico-Canada Agreement? (June 26th 2019) — conducted by researchers from the University at Ottawa, fifty-seven percent of the text of the USMCA is copied from the Trans-Pacific Partnership, a treaty repeatedly described as a “horrible deal” by President Trump. Twenty-nine out of thirty chapters have equivalents in the USMCA and seventy-two percent of the matched USMCA chapters are found in both agreements. Many of the chapter titles are identical and so too are the various articles and clauses they each contain. And upon deep analysis, the textual similarity between the USMCA and the TPP reveal that have a great deal in common; they are of the same generation of treaties, and they do not mark a fundamental rupture in U.S. practices, despite President Trump’s rhetoric.

 

Within days of the release of the first text of the USMCA, Richard Haass, a globalist proponent of the New World Order and president of the Council on Foreign Relations, praised the USMCA due to its alignment with the TPP. According to Haass, “USMCA is NAFTA plus TPP plus a few tweaks”.

 

Take an in depth look at the agreement, and one will discover Chapter 30 establishes a new governing bureaucracy under a Free Trade Commission of unelected and unaccountable men and women overseeing various lower regional committees. Just as initially set forth in the TPP Commission, the Free Trade Commission can make changes to the USMCA without the consent of Congress, and this fact, in and of itself, completely undermines Article I Section 8 of the Constitution and Congressional authority and power to regulate trade with foreign nations.

 

The United States already has enough problems with an illegal alien invasion of between 22 to 40 million illegals without compounding it by relinquishing any sovereignty and decision making in this regard to an unelected Commission of the USMCA, which very well could be the consequence, if this treaty is ratified by the Senate, after the House passes it. Illegal immigration is certain to be further facilitated by Article 23.8 (Chapter 23) on Migrant Workers and a requirement to “ensure that migrant workers are protected under its (each respective nation’s) labor laws, whether they are nationals or non-nationals” (read “illegal aliens” and “foreign nationals”). This would serve to circumvent any determinations by our Congress and federal judiciary regarding the arrival of caravans of illegal aliens from Honduras, Guatemala, Nicaragua and El Salvador, as well as a final determination on DACA. And making it plain in language identical to language in the TPP, Article 15.5 of the USMCA states: “No party shall adopt or maintain … a measure that … imposes a limitation on … the total number of natural persons that may be employed in a particular financial service sector or that a financial institution or cross-border service supplier may employ … in the form of numerical quotas or the requirement of an economic needs test.” This opens the door for any number of people to be brought across the border for any reason deemed necessary by one or more Parties involved, flooding America with radical Central American socialists.

 

[Blog Editor: Interesting perspective on USMCA ending National Sovereignty –  USMCA “Trade Agreement”, the North American Union, an Article V convention, and Red Flag Laws: Connecting the Dots; Posted by TMH – By Publius Huldah; Noisy Room; 12/7/19]

 

Staying true to other globalist anti-American schemes, the USMCA also forces signatories to submit to international concerns, such as the International Labor Organization, the World Trade Organization and United Nations mandates like the Law of the Sea, that the United States refused to ratify in 1982, along with “sustainable development” — mentioned no less than nine times in the chapter on the environment — and International Council for Local Environmental Initiatives directives and edicts, that many of the U.S. states have fought to eradicate over the past decade, after experiencing years of their oppressive nature. [Blog Editor: All related to sovereignty robbing UN Agenda 21, Agenda 2030 et al]

 

Although the original NAFTA agreement did not contain any directive on the environment in 1994, the USMCA contains a thirty pages in Chapter 24 dedicated to the environment, that mentions “sustainable development” nine times. Page two of this chapter states: “The Parties recognize that a healthy environment is an integral element of sustainable development and recognize the contribution that trade makes to sustainable development.” Other similar points address “sustainable fisheries” and the “sustainable use of biodiversity”, both of which are aligned with and straight from the United Nation’s Agenda 2030; and, it also contains the North American Agreement on Environmental Cooperation among the Governments of the United States, Canada and the United Mexican States, that has a subsidiary called the Commission for Environmental Cooperation, quite like a supra-EPA for all of North America.

 

The purpose of the USMCA’s environment chapter, according to Article 24.2, is as follows [page 2 of PDF]: ” … to promote mutually supportive trade and environmental policies and practices; promote high levels of environmental protection and effective enforcement of environmental laws; and enhance the capacities of the Parties to address trade-related environmental issues, including through cooperation, in furtherance of sustainable development.”

 

So, the USMCA is essentially calling for the regulation and control over all the waters, lands and organisms across three countries, in much the same way President Obama sought to exert complete control over America through the Water Rules for the United States EPA regulation. The USMCA would strip the United States of control in these areas, through its control over three countries and multi-layers of government overseen and directed by regional government entities. This would effectively put all American lives — where they live, how they live and what jobs they may perform in any given region — in the hands of unelected bureaucrats, with little to no real oversight whatsoever.

 

As far back as the 1980s, President Ronald Reagan was intelligent enough and prescient to recognize the Law of the Sea Treaty as a thinly veiled attempt to force a lurch towards world government and the New World Order later described in glowing terms by President George H.W. Bush, a globalist “Republican”, and so Reagan refused to sign it, after Jeanne Kirkpatrick, U.S. Ambassador to the UN from 1981 to 1985, testified before the U.S. Senate Armed Services Committee, in fierce opposition to its ratification. And although Pres. Bush Jr urged its ratification in 2007 and it was once again supported in 2012 by then-Secretary of State Hillary Clinton, as of 2019, the U.S. Senate has still refused to ratify the UN convention.

 

However, in the USMCA’s Chapter 24, [Scroll to] Article 24.18, “Sustainable Fisheries Management”, the United States, Canada and Mexico are required to adhere to the Law of the Sea Treaty in regards to managing their fishing industries. In other words, the United States will essentially surrender its sovereignty over all its waterways and miles of coastal oceans to the jurisdiction of UN international law, which would be a national security nightmare on too many levels possible to entertain here, all in the name of protecting fish and marine life.

 

[Blog Editor: Of Interest – USMCA Sneaking UN Law of the Sea Treaty Through The Back Door? By Dr. Ileana Johnson Paugh; Canada Free Press; 11/15/18]

 

All of this opens a path towards a North American Union, as the USMCA seeks to merge the economies of these three countries into one. Think of it as similar to the authoritarian European Union on steroids, dashing madly along and trampling on each and every inalienable right and each item in our U.S. Bill of Rights along the way.

 

Is it any wonder that the anti-American Travelers, the Communists and the New World Order globalists are so ecstatic over the creation of this USMCA “New Deal”, the old made new?

 

According to the Huffington Post, “At least half of the men and women standing behind Trump during his Rose Garden ceremony praising the new deal were the same career service staff who negotiated nearly identical provisions in TPP, which Trump had railed against.” Trevor Kincaid, one of the group and the lead negotiator for TPP, observed, “It’s really the same with a new name.”

 

Doesn’t most of America remember just how bad TPP was proven to be? Don’t all of You recall how hard freedom loving Americans fought to defeat TPP?

 

All America must flood the White House and Congress with calls and letters demanding this treaty be completely eradicated and thrown in the trash where it belongs. Remind Trump how he felt about the TPP when he rejected it by executive order in 2017, and explain to him how disastrous the USMCA will be in practice. If he and representatives and senators look at this honestly with America’s best interests at heart, they will all take immediate action to terminate this ill-founded evil machination, designed by men who would destroy America.

 

Lincoln Bloomfield, a longtime State Department bureaucrat and a member of the Council on Foreign Relations, wrote a report in 1962, that was financed by the State Department. His report proposed that “ever-larger units evolve through customs unions, confederation, regionalism, etc., until ultimately the larger units coalesce under a global umbrella. America is now witnessing the culmination of those globalists’ efforts coming to fruition through the completion of one segment of the “global umbrella” — a globalist objective — by way of the USMCA.

 

Those who created the USMCA have no respect for U.S. sovereignty and the Constitution, no true love for America and no honor, and more than likely, President Trump has been duped by them, since no evidence exists that shows the President has ever supported globalism. More than that, President Trump failed to understand that the management of the entire United States is guided by approximately five pages and a single paged Bill of Rights, rather than over 2000 pages, or that a real free trade agreement keeping with American principles of Liberty would be noted for its absence of rules on trade; and, while it may be hard to move the President to disavow and kill this miserable treaty, he will do it and he must, if he truly decries world government and does not wish to be known as the progenitor of “the worst agreement ever negotiated”, akin to the one-worlders and the likes of the Rockefellers and Soros; and in the process, let us place our government back in the hands of “We the People” in 2020, as we hold people and organizations accountable for moving in such a reprehensible, ignoble manner to end our Republic and destroy our Constitution in pursuit of Marxist-Leninism and a global government, actions that most freedom and liberty loving Americans use to call treason.

 

By Justin O. Smith

++++++++++++++

Blog Editor: Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me. Recently, the Facebook censorship tactic I’ve experienced is a couple of Group shares then jailed under the false accusation of posting too fast. So I ask those that read this, to combat censorship by sharing blog and Facebook posts with your friends or Groups you belong to.

_________________________

Edited by John R. Houk

All text embraced by brackets are by the Editor. Unless indicated by ** source links are by the Editor. The Double Asterisks indicates the source is by Justin Smith.

 

© Justin O. Smith

 

Dreams of Prosperity and an Inflated Currency


I actually comprehend little when it comes to economics and numbers. But history is easier to grasp. History informs us a Capitalist based Market System has enabled a Liberty-minded America to prosper more than the fail. While oppositely a Socialist based Government Managed System robs Liberty from citizens stifling individual prosperity and increasing government despotism and oppression.

 

Though I have difficulty grasping the actual effects of a repo (buyback) stocks market on the economy I grasp well that an unrestrained Federal Reserve with near zero checks and balances adds to government despotism and decreases Liberty and Freedom of America’s individual citizens. And so … here are Justin Smith’s thoughts on American Markets and the actions of the Federal Reserve.

 

JRH 10/10/19

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Please Support NCCR

Support this Blog HERE. Or support by getting in 

the Coffee from home business – OR just buy some healthy coffee.

 

Blog Editor: Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me. Recently, the Facebook censorship tactic I’ve experienced is a couple of Group shares then jailed under the false accusation of posting too fast. So I ask those that read this, to combat censorship by sharing blog and Facebook posts with your friends or Groups you belong to.

********************

Dreams of Prosperity and an Inflated Currency

Congressional Warning Bells Are Silent

 

By Justin O. Smith

Sent  10/8/2019 10:42 PM

 

Long before we wake up from our dream of prosperity through an inflated currency, our gold, which alone could have kept us from catastrophe, will have vanished and no rate of interest will tempt it to return.” U.S. Senator Elihu Root (R-NY) 1913

 

The Federal Reserve Bank has been a bone of contention, since our nation’s founding. This rogue agency has proven itself to be the evil entity that many early American leaders believed it to be, but not one word on the Fed was forthcoming, when Congresswoman Maxine Waters announced the schedule of the House Financial Services Committee on October 3rd, after the Federal Reserve Bank started transferring billions of dollars into the Repurchasing Market on September 17th. This activated its proposal to hand seventy-five billion dollars a day to unnamed banks on Wall Street, until November 4th, the first such intervention since the 2008 economic collapse and the bailout of financial organizations deemed “too big to fail”; and, it is just one more criminal act in a long line of abuses committed against all America.

 

In 2011, James Felkerson wrote in an academic piece, that from 2007 to 2010, the Fed had funneled an unbelievable $29 trillion in revolving loans to Wall Street and global banks. It did this without any apparent realization and authority from Congress, even though by law both the House Financial Services and the Senate Banking Committees are to be briefed on any such emergency loans, including the names of those banks taking the loans.

 

[Blog Editor: I am not an economist. In trying to make sense of the repo market and reverse-repo market the information muddied rather than bring clarity to my understanding. Since it is my mantra that Dems lie and deceive I become skeptical when the likes of Dem candidates for President (e.g. Elizabeth Warren & Bernie Sanders among others) begin to rail against the buyback repo markets. I’ll start with an explanation of repo markets then add some criticism titles for you to look noting who the critics are:

 

 

 

 

 

 

Like I said, I am no economist. BUT the tax issue seems less about taxpayers funds and more about banks and corporations taking advantage of tax breaks to expand money returns which may or may not blow up DEPENDING on the security controls of the money-printing Federal Reserve. Not being an economist means my take could be entirely off basis.]

 

These Big Banks and corporations are taking this “free” taxpayer dollars and buying back stocks in their own companies, rather than risk investment in productive investments, which creates an illusion of economic growth. The purchases give companies the appearance of being more profitable than they actually are, even though their earnings have remained stagnant. And it is the Fed’s perverse incentives that have given rise to this debt-dependent speculative system that allows companies to pocket their profits, while at the same time, they socialize their losses and pass them along to the taxpayer, ‘We the People’.

 

In 1832, President Andrew Jackson, extremely antagonistic towards the Bank of the United States, stated: “Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching You for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin [a] thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, I will rout you out.” [Bold-Italics Blog Editor’s]

 

We are currently witnessing a continuation of the malinvestments that led to the 2008 economic collapse and massive loans combined with another huge expansion of credit. When banking institutes issue huge credit lines, any future economic collapse is proportional to that amount of outstanding credit.

 

This isn’t a true “boom economy” and the current boom is the culmination of monetary inflation and an expanded credit cycle, in the wake of the residential property and stock market booms, between 2005 and 2007, and malinvestments that have not yet been fully corrected. To date, this is by far a larger credit elevation than that of 1922-1929, and the Great Depression on the 20th century.

 

It seems as though everyone in America has bought into the promise of applied macroeconomics, refusing to acknowledge the contrary signals through the prism of classic economics, while they accept macroeconomist premises that economic truths on a micro-level are not applicable to the whole at the macro-level. This level of ignorance will soon prove to be a huge mistake, since nobody can live forever beyond their means and ability to repay amounts owed.

 

One should note that the JP Morgan Bank, one of the largest in the United States, was hit with three felony counts under the RICO Act last month, concerning the precious metals market. This is particularly alarming in light of JP Morgan’s $158 billion cash reduction in the Federal Reserve, between January and June of 2019, a fifty-seven percent decline this year.

 

Why hasn’t the need of the United States’ largest bank to acquire such a large loan over a six month period raised any warning bells in Congress? Why does JP Morgan need such a large loan if it has $1.6 trillion in deposits and a “fortress balance sheet”, as asserted by JP’s CEO, Jamie Dimon?

 

By the end of June 2019, America’s four largest banks had a combined $5.45 trillion in deposits: JP Morgan claimed $1.6 trillion; Bank of America claims $1.44 trillion; Wells Fargo posts $1.35 trillion, and Citibank holds a bit over $1 trillion.

 

So why the current panic at the Fed? If the liquidity doesn’t exist to allow these banks to issue billions in loans, when they supposedly hold $5.45 trillion, something very serious has occurred in the financial industry and another economic crisis looms on the horizon.

 

Recently, CNBC reported that U.S. manufacturing purchasing managers’ index was the lowest it’s been since June 2009, at 47.8 percent, and in recent days, many hundreds of Americans have been laid off from companies, such as Kroger and many others. Bayou Steel just laid off 376 workers, according to Market Realist; Daimler Trucks North America is laying off 450 people; WeWork is set to end five thousand jobs, one-third of its workforce; Hewlett Packard Inc is cutting approximately 8,000 positions, and lets not forget that Walmart was forced to close 63 locations last year.

 

This isn’t a “boom economy” anyway one looks at it, especially when we see Democrats and Republicans alike engaging in out-of-control deficit spending, as if the U.S. Treasury is their own personal piggy bank and there is no tomorrow. If this were truly such a golden period of economic recovery, our financiers wouldn’t be clamoring for interest rate cuts, when they are already at historically low levels.

 

America has seen this greed motivated reach for more and more before, as the borrowers seem not to have one care on how their loans will be repaid, and most of America cares not so long as they get their cut. It is this extreme callous character flaw and apathy and a complacency and the turning of a blind eye by corrupt Congressmen, a national immorality, that is allowing the Fed to once more bail out the worse white collar criminals on Wall Street, as they continue to take huge portions of bail out funds to reward themselves with tens of millions of dollars in bonuses and billions of dollars to lawyers to prevent them from being prosecuted for fraud.

 

It is an indication of America’s collective genius or its collective madness that permits Her people to hold so many contradictory assumptions, combined under the same economic system, and blindly and blithely proceed as if they were all joined by perfect cogent thought, logic and reason. And yet, many Americans cannot escape the nagging feeling that something is going extraordinarily wrong, as our best and brightest economic experts call madness “common sense”, denying that their deal with the devil doesn’t come at some terrible price eventually.

 

The impeccable and brilliant Senator Elihu Root strongly opposed the Federal Reserve Act in 1913, noting in a blistering and prescient manner that “the Federal Reserve … provides an expansive currency, not an elastic one”. He noted that the temptation to expand the currency would cause the Fed to create the very cycles it was supposed to prevent.

 

It is far past time to eradicate the Federal Reserve Bank and the economic sickness that accompanies centralized banking, wherever one finds it.

 

Whatever a man sows, so shall he reap. Need little, want less and love more.

 

By Justin O. Smith

+++++++++++++++++

Blog Editor: Rather than capitulate to Facebook censorship by abandoning the platform, I choose to post and share until the Leftist censors ban me. Recently, the Facebook censorship tactic I’ve experienced is a couple of Group shares then jailed under the false accusation of posting too fast. So I ask those that read this, to combat censorship by sharing blog and Facebook posts with your friends or Groups you belong to.

___________________________

Edited by John R. Houk

 

Source links and text embraced by brackets are by the Editor.

 

© Justin O. Smith

 

Trump-Pelosi Budget and Fiscal Sabotage


I have to be honest. Working with the reality of numbers often hurts my brain. I’m not good at. Justin Smith seems to have a great grasp of number realities when it comes to deficit spending, the National Debt, Gross Domestic Product and the need of a Balanced Budget.

 

Justin is displeased with the results of the Trump Administration/Pelosi budget agreement and urges a Presidential veto. No matter how much the numbers are painful, the inevitable result will be catastrophic if this Federal accounting disparities continue.

 

However, the realities of America’s political divide demonstrated by near even splits of opposing ideologies in Congress means neither the Socialists nor the fiscal Conservatives will get what they want. Perhaps an idiotic budget compromise keeps the government operating rather than frozen. EVEN THOUGH it’s doom and gloom, if voters DO NOT opt soon for fiscal responsibility a national catastrophe will occur.

 

Trump’s hands are tied by political realities, if voters want a different outcome untie divisive politics – OR ELSE.

JRH 7/26/19

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Please Support NCCR

********************

Trump-Pelosi Budget and Fiscal Sabotage

A Coward’s Financial Agreement

 

By Justin O. Smith

Sent 7/25/2019 7:06 PM

 

A coward’s financial agreement is the phrase that best describes the budget deal recently agreed upon by President Trump and Speaker Nancy Pelosi, that just passed the House with a vote of 284 to 149 at 2:14 CST on July 25th, since it avoids any real battle over government spending by suspending the debt ceiling until July 2021. It raises spending caps and lifts the debt ceiling in the name of avoiding a fiscal crisis, but in reality and ignoring any lessons from 2008, this explodes U.S. debt in a way never seen in U.S. history, and it exhibits President Trump’s willingness to meekly surrender to another massive expansion of the federal budget, that creates a short term political “win” for the DC Establishment of both parties and a long term loss for the American people.

 

This deal received 65 Republican votes, and it spends $2.7 trillion over the next two years. It commits President Trump to signing spending bills that add $320 billion above spending limits set in a 2011 agreement that established automatic spending cuts. This Pelosi Dream Deal also says there will be absolutely no limit on how much new debt the federal government can accumulate between now and July 31rst 2021.

 

The Washington Post was absolutely correct, when it recently wrote that the budget and debt deal would not contain actual spending cuts, since the $150 billion in new spending cuts demanded by White House budget director Russell Vought soon materialized as only [about] 70 billion in actual cuts, that don’t go in effect for ten years and are likely to be reversed by Congress at a later date. This marks a retreat for the White House.

 

Reported by the Wall Street Journal, Maya MacGuineas, president of the Committee for a Responsible Federal Budget, stated on July 22nd: “This deal would amount to nothing short of fiscal sabotage.” [Blog Editor: I found quote at USA Today]

 

And yet, rather than debate the most serious issue of the day and seek real solutions, the cowards of both parties hid behind “bipartisanship”, in an erroneous, corrupt and wrong-minded fashion, and cooperated to serve their own personal political interests, as DC’s supposed “elite” elected class.

 

Our current National Debt Ratio to the Gross Domestic Product has averaged right at 100 percent, between 2010 and the present. This is even higher than the 94 percent [average] the nation saw between 1944 and 1950.

 

Incredibly, the federal government spent $3,355,970,000,000, in the first nine months of this fiscal year, while running a $747,115,000,000 deficit. President Trump’s Treasury is currently issuing U.S. dollars faster than it did in fiscal 2009 — even when adjusted for inflation — when President Bush signed the bailout legislation for failing banks and President Obama signed a Stimulus bill focused on ending our economic recession.

 

Noted by The Hill, grave concerns on the economy were expressed by the Congressional Budget Office on July 23rd [Blog Editor: I could not confirm a 7/23/19 date, the links in thos paragraph relate to a 6/25/19 date], and the CBO wrote in its budget projection that U.S debt is on track to increase from 78 percent of the GDP to an “unsustainable” level of 144 percent of the GDP over the next thirty years, even if spending caps aren’t lifted and taxes are raised. Now, with the passage of this bill, we are on track to see the debt rise to 219 percent of the GDP, unless President Trump can be persuaded to send the bill back with a demand that more actual spending cuts must be made.

 

Representative Chip Roy (R-TX) was upset with President Trump for negotiating through Treasury Secretary Steve Mnuchin, rather than Office of Management and Budget Director Russell Vought. As reported by the Wall Street Journal, Roy exclaimed, “The president should be listening to (White House Chief of Staff) Mick Mulvaney and Russ Vought, and he should not be listening to Steven Mnuchin, period.” Roy added that “Senate Republicans will never find a corner where they can go and hide”, implying that Senate Republicans are untrustworthy regarding fiscal responsibility.

 

Once consumed by fiscal worries, this coward’s agreement is one more sign that makes it more than clear, both houses of Congress and both the Democratic Party and the Republican Party have become Big Spenders, and Congress is no longer concerned about the extent of the budget deficits or the debt they add. The DC Establishment no longer cares, even as our national debt hits one trillion annually and rapidly approaches $23 trillion.

 

According to the Washington Post, Senate Majority Leader Mitch McConnell (R-KY) recently stated: “Nobody has lost an election by spending too much money”, in regard to Chief of Staff Mick Mulvaney’s effort to pay for the spending deal.

 

After the last massive spending deal, President Trump vowed never to sign another one. And yet, here he is again, at the ready and far too willing. He just keeps confirming to the American people that he really is a Big Government Guy and a Big Spender.

 

Today, America barely hears any objections over the exorbitant debt. When Trump campaigned in 2016, he bragged about his ability to prosper from his own debt. He told CNN, on May 4th 2016: “I’m the king of debt. I love debt.” … adding the next day … “if the economy crashed, you could make a deal … if the economy was good, it was good … you can’t lose.”

 

But that’s not just the reality of matters for most Americans who live paycheck to paycheck, and it is just not smart for anyone or any nation to accumulate debt; at some point another bubble will burst in our economy, since Wall Street hasn’t stopped any of the bad business practices that caused the 2008 crisis. And, an economic collapse of 2008 magnitude will pale in comparison to the coming economic catastrophe that deals such as this one are sure to create. Most of our national debt has been monetized, and any bailout for the American people will be virtually non-existent.

 

Niall Ferguson, senior fellow at Stanford University’s Hoover Institute, has warned that empires fall when interest on their debt equals what they spend on defense. According to the Office of Management and Budget, this will happen around 2024. If interest rates increase, it could arrive much sooner.

 

Unfortunately, America is currently a nation focused on instant gratification, selfishness and greed, and seems oblivious to the dangerous path it is on. Whether or not the nation can afford all the current government benefits, plus the desired additional costs of free university educations and free healthcare for all, and even though our credit card is maxed out, Americans seem intent on voting for politicians who promise to borrow money to give them what they want.

 

Everyone would do well to recall that in Psalm 37:21 it says, “The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth.”

 

Noting that Congress’s out-of-control spending “is ripping off the American family”, former Congressman Dave Brat recently delivered the following observation to Tony Perkins at Washington Watch, as he looked across the Atlantic: “There’s evidence you can be pathetic for a long time. And the evidence is called Europe. … eventually … debt will impinge on your economic growth rate as it has been. And what’s really missed in the point is it’s intergenerational theft. And I mean that quite literally. We are stealing from our kids and the next generation to the extent that our deficit is $1 trillion. We’re spending $1 trillion and getting the goods from it right now — and the kids are going to have to pay for [everything] we’re consuming. And so it is literally theft. So they’re going to have to work hard, pay their taxes, get tax increases, pay off the debt, and pay all their own personal bills for our runaway spending binge.”

 

America has embraced reckless spending and She doesn’t even pretend to repay what She owes. She incurs more debt daily at an unprecedented rate and most of Her current leaders do not acknowledge that this is even a problem. And so, if our leaders have one shred of human decency and honesty, of a personal or intellectual kind, rather than pander for votes, their bipartisan action should warrant a majority of both parties to end this deal and move forward on a deal that truly cuts all unnecessary spending, or President Trump must reconsider this deal and veto it, rather than continue on a path that watches our deficit soar and attacks our nation’s solvency and the future prosperity of America.

 

By Justin O. Smith

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Edited by John R. Houk

Source links and text embraced by brackets are by the Editor.

 

© Justin O. Smith

 

The End of the Line


Justin Smith views warnings of an imminent economic crisis from billionaire investors. AND the so-called Green New Deal may make the predictions even worse.

JRH 2/10/19

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The End of the Line

 

By Justin O. Smith

Sent 2/9/2019 5:00 PM

 

The United States’ economy has surpassed all normal ebbs and flows, corrections, by approximately five years, since on average in each past cycle it rose for 56 months before collapsing. We’re about five years past that point and our economy is only now “cooling”. We’re just about due for another economic recession, if not a collapse that makes 2008 look small. We’re at the end of the line.

The U.S. spends almost a third of its revenue on interest payments alone, and it doesn’t seem like it can afford to pay much more.

In the short decade since 2008, the national debt, ever on the rise, has jumped from $10.6 trillion to $22 trillion. It also comes with a deficit that’s currently over $1 trillion currently. The interest payments alone may be forming a “black hole” from which the U.S. may never escape.

These facts alone should raise concern in any interested observer.

 

And now we see twenty-nine year old Alexandria Ocasio-Cortez, a product of the Puerto Rican Enlightenment and a Bronx resident, and other red, radical socialists like her in the House of Representatives, promising Pie-In-The-Sky Utopia for everyone. This makes her a danger to herself, her constituents and the nation, since she believes there isn’t any problem that a government program cannot solve, and she is already advocating for Medicare for all, a job guarantee, free college tuition, a green infrastructure program, and a squeeze the rich tax plan (70% for those making over $10 million).

 

Most political pundits say, “It will never pass … it’s crazy … it will harm the economy.” But, crazy plans that hurt the economy just might stand a chance at passing, since just over half the population in its entirety, and 51% of all Millennials, now have an acceptable view of socialism, some even embracing communism.

 

When existing laws of the land cause bankruptcy and chaos, people seem to look to legislate even more absurd laws, which is precisely how the first New Deal was pushed through Congress, during the panic and despair of the 1932 elections. And the New Deal gave President Franklin D. Roosevelt carte blanche to enact a series of costly programs.

 

A good guess is that the next economic crisis will be severe and long-lasting, too, as stocks fall hard and the economy goes into a deep recession.

 

“How did we get here”, one young lady recently asked me. Short answer: America has been guided to this point, by the consequences of the Federal Reserve Act, centralized banking, regulations, currency manipulation, devaluing the U.S. dollar, socialist initiatives in Congress to fast-track globalism, unfunded debt, monetized debt and acts of anti-American national sovereignty on both sides of the aisle who are intent on tearing apart the Founders’ vision and U.S. sovereignty, in order to pave the way for the globalists and their vision of a “new world order”.

 

The enemies of America, both foreign and domestic, have been working towards this goal for the past 120 years, and they have been working tirelessly and consistently towards leveling America’s power and wealth to the point She can be managed and coerced or forced to submit to the global agenda of the few power elite, the oligarchs of the world,

 

Mainstream media almost never hype a financial crisis, so it’s significant when they do. But when billionaires are sounding the alarm, you might want to pay close attention.

At least two billionaires are doing just that, starting with Baupost Group’s Seth Klarman. Baupost Group is a $28 billion hedge fund, and Klarman normally positions himself out of the limelight. His fund is only open to private investors, so he has little incentive to promote his brand to the public.

But recently, he felt the need to write a warning to investors about the global debt, with specific reference to the U.S., according to Sovereign Man:

In a 22-page letter to his investors, Klarman warned that government debt levels, particularly in the US (where debt exceeds GDP), could lead to the next global financial crisis.

The seeds of the next major financial crisis (or the one after that) may well be found in today’s sovereign debt levels,” he wrote.

 

Even ignoring economic history, there are signs everywhere, as nearly every major asset class around the world, from stocks and bonds to real estate, is selling at nearly an all-time high at prices that defy common sense. This suggests the possibility of a big recession and market correction just before the 2020 election, giving the socialists a much needed crisis that could catapult them into a majority in both houses of Congress. And that’s why we should all be praying that if any coming recession must come, let it hit soon, so it can be properly addressed before it becomes a major election issue.

In the same letter, Klarman continued: “There is no way to know how much debt is too much, but America will inevitably reach an inflection point whereupon a suddenly more skeptical debt market will refuse to continue to lend to us at rates we can afford…

Since the U.S. spends almost a third of its revenue on interest payments alone, it doesn’t seem like it can afford to pay much more.

And Klarman isn’t the only billionaire expressing unease. At the World Economic Forum [Blog Editor: WEFORUM – Globalization 4.0; Breitbart-Pompeo-Nationalism; New American-Merkel-Communist China-Globalist Agenda; & TheGatewayPundit-Ted Malloch-Criticizing Davos] in Davos, Switzerland, Ray Dalio, founder of the world’s largest hedge fund, said that debt would be to blame for the next downturn, which he believes will be bigger than the Great Depression.

“The biggest issue is that there is only so much one can squeeze out of a debt cycle and most countries are approaching those limits”.

You might think the U.S. government would do everything to curb this problem, but Uncle Sam’s total debt is rapidly approaching $22 trillion, and according to the Congressional Budget Office’s latest ten-year projection, it will be more than $33 trillion by 2029, with $1 trillion annual deficits set to begin again and stay above that for as far as the fiscal eye can see.

Skyrocketing debt, check. Deficit to match, check. Or will it be checkmate?

Although I’ve stated this twice before in this piece. let me reiterate — The U.S. spends almost a third of its revenue on interest payments alone.  America and Her people cannot afford to pay much more.

WE’VE ARRIVED AT THE END OF THE LINE.

~ Justin O Smith

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Edited by John R. Houk

Source links are by the Editor.

 

© Justin O. Smith

Interview with the Polish Ambassador


Piotr Opaliński – Poland Ambassador to Pakistan

 

Shamim Mahmood – a Pakistani Christian advocate/journalist – has submitted some interesting information on foreign relations between Pakistan and Poland derived from Ambassador Piotr A. Opalinski.

 

JRH 2/3/19

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Interview with the Polish Ambassador

 

By SHAMIM MAHMOOD

Sent 2/2/2019 11:43 PM

 

ISLAMABAD (Online) Mr. Piotr A. Opalinski, the Ambassador of Poland to Pakistan has said that Poland values its historical links with Pakistan and enjoys the multifaceted collaboration. Currently, the two countries are significantly developing their political, economic and defence cooperation. The current trade volume is reaching a half billion Euro and there are good prospects for the further growth of their bilateral trade. Peace and stability are the key for the development of the region. Poland supports the peace process in Afghanistan and acknowledges Pakistan’s efforts in facilitating the talks between the US and Taliban.

 

Talking to the ‘Online News Agency’ in an exclusive interview, the Polish Ambassador Mr. Piotr Opalinski said that the relations between Pakistan and Poland are ‘excellent and very cordial’. He pointed out both at the ongoing political dialogue as well as enhancement of economic cooperation, especially in the areas of energy and exploration of natural resources, in which Polish companies have been engaged in Pakistan since last 20 years. He said that Poland’s vast expertise and long tradition in coal mining, defence production, agriculture and food processing offered new opportunities for the mutually beneficial cooperation in these areas as well.

 

Ambassador said, that Poland supported the inclusion of Pakistan in the GSP Plus by the European Union (EU) to grant non-reciprocal preferential treatment to Pakistan’s exports. He emphasized that the geographical location of Poland in the exact centre of Europe made it very suitable to become a hub for Pakistani products designed for the European market. The bilateral trade volume in 2018 raised to about 500 million Euro. The trade balance is in favour of Pakistani exports, mainly textiles (90 percent), with a relatively smaller share of leather products, sportswear, foodstuff and surgical instruments.

 

Ambassador Opalinski also said, in the area of development cooperation Poland was directly working with Pakistani partners – local organisations capable of a very efficient implementation of the projects. Some of the best examples of educational projects supported i.e. by the Polish Embassy were the primary schools in Kaghan Valley and Bari Imam area of Islamabad. They are providing quality education, counselling and medical care for the children.

 

Answering a question about visa policy, the Ambassador said it was based on the common Schengen Visa Code, as Poland, being one of 26 Schengen Member States, issues the visas allowing for a border-free movement of travellers in the whole area in all categories of travels – businessmen, tourists, students etc. The available statistics indicate that the number of visitors from Pakistan to Poland is gradually increasing.

 

Talking about the regional and international situation, the Ambassador appreciated Pakistan’s role in the Afghan peace process and its efforts in facilitating the talks between the US leadership and Taliban. Poland wholeheartedly supports peaceful resolution of the protracted conflict in Afghanistan, to the benefit, stability and development of the whole region.

 

Recollecting his very good personal experiences of nearly ten years of diplomatic service in Pakistan (first tenure as Deputy Head of Mission and now as Ambassador) Mr. Piotr Opalinski said the Polish-Pakistani friendship, transcending through different times and geographical distance was deeply-rooted in history and time-tested. He referred to the memories of Polish refugees who were granted shelter in Karachi during the World War and to the Polish pilots, who made a great contribution to the development of the PAF and civil aviation at the nascent stage of Pakistan’s statehood. He said, all this, and more fascinating stories of Polish-Pakistani personal relations of friendship, would be described in an excellent book “Freedom Under the Pakistani Sky” by Polish author Mrs. Anna T. Pietraszek [Polish Wikipedia], which is going to be launched in Pakistan later this year. Ends/

 

Be Blessed,

 

Shamim Mahmood

Diplomatic Correspondents

Online Int’l News Networks

Daily Jinnah [Urdu]

Daily Morning Mail

Journalist, Blogger and Social Reformer

+92-300-642-4560

[Blog Editor: Shamim also does Christian activism in Pakistan. It can be dangerous work in Islamic Pakistan. Please consider a contribution. The last I heard services like PayPal are not supported in Pakistan. The Western Union is a good way to send money which will transfer into Pakistan Rupee – https://www.westernunion.com/us/en/send-money.html; Shamim Mahmood; Islamabad; +92-300-642-4560.

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Blog Editor: This Facebook video should be of interest in relation to Polish refugees helping to build the Pakistan Air Force after WWII:

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Edited by John R. Houk

Source links are by the Editor.

 

© Shamim Mahmood