The Phaserl


Unprecedented Catastrophe

by Andy Hoffman, Miles Franklin:

You wouldn’t know it from what I do for a living – but generally speaking, I am as optimistic a person as you will find. Just ask anyone who knows me, regarding essentially all topics. However, I’m also a realist, which is why I’m so good at what I do. And given this blessing/curse, as well as relentless analysis and an inexorably logical mind, I’ve been able to forecast the economic devastation that has unfolded over the past two decades better than most – partly due to said “gifts,” but mostly the extremely rare trait of seeing things for what they are; and reporting them as such, no matter how people want to hear it. As they say, “none so blind as those who refuse to see”; and in my experience, for a variety of reasons ranging from conflict of interest to plain old human nature, the vast majority have little interest in the truth.

To that end, it’s been 28 years since my financial career commenced, with a college internship at Paine Webber in Albany, New York, selling 6% Certificates of Deposit that few had any interest in. Each day since, the fabric of the global economy has relentlessly weakened – to the point that today, it is on the verge of an epic, generational collapse unlike anything witnessed in modern times. Consequently, when the “powers that be’s’” unprecedentedly destructive acts – in the name of destroying the “99%,” for the benefit of the 1% – inevitably, spectacularly fails; the “world as we have known it” will no longer be recognizable. Frankly, I’ve run out of superlatives to describe what I believe is coming to the “first world” – just as it has already has in the majority of the second and third. But suffice to say, “unprecedented catastrophe” – politically; economically; socially; and most importantly, monetarily – captures this sentiment with crystal clear precision.

I mean, what part of the “dead ringer” algorithm have I not properly described – like last night’s Chinese version, as commodity prices continued to plunge; the Chinese yield curve inverted for the first time ever; Goldman Sachs speculated that China is lying about its relentlessly hemorrhaging capital flows; and horrifying economic data, from around the world, continued to pour in?

This, after the “Dow Jones Propaganda Average” surged for no apparent reason; extending its historic streak of (PPT-orchestrated) “low volatility,” on a day featuring a litany of PiMBEEB headlines from a plunging, recessionary Empire State Manufacturing Index; to the expanding chaos surrounding James Comey’s firing – and economic chaos from history’s most destructive, soon-to-be-repeated ransomware attack. Not to mention, NATO provocatively announcing a permanent buildup on the Russian border; California’s (insolvent) government forecasting that CALPERS, the nation’s largest pension fund, needs to double its financial contributions within six years; North Korea successfully testing a new, long-range ICBM; the State Departement accusing Assad of mass, genocidal murder; and the Washington Post accusing Donald Trump of leaking top secret information to the Russians. This, as interest rates rose and the dollar plunged to new post-Election lows. True, Saudi Arabia and Russia “agreed” to continue their (thus far completely failed) production cuts for another nine months; subject to approval from ten-plus nations later this month, of course – which “theoretically,” could prevent the (oil-PPT supported) crude oil price from its imminent rendez-vous with a world-destroying 30-handle. However, simple math tells us these, too, will fail miserably – which frankly, even a reasonably intelligent seven-year-old could understand. And how about that? Said “announcement” couldn’t even get crude to trade above $50/bbl!

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