Nevada Families for Freedom
State Affiliate National Eagle Forum
Facebook link: https://www.facebook.com/nevadafamilies/ @nevadafamilies
186 Ryndon Unit 12, Elko, Nevada 89801, 775-397-6859, Sparks 775-356-0105
Editor: Janine Hansen
August-September 2019, In the Year of Our Lord
Volume 45, Number 8 Email Version
August is Subscription Renewal Time.
If you check your label you will see the last date you contributed. If there is no date you are temporarily receiving a complimentary copy. Please subscribe. We depend on your continuing support. Thank you, Janine Hansen
Around us is a very noisy world filled with confusion. It’s difficult not to be distracted. Probably the most important questions we can ask ourselves are, “Am I doing what God wants me to do and what more does He want me to do?”
“The Greatest Depression”
Most Americans are entirely unaware that we are on the brink of the “Greatest Depression.” It will be much more damaging than the original Great Depression and far worse than the Great Recession of 2007-2008. If you are listening to the “conservative” talking heads on television you probably think that it is a Democrat plot that is trying to make people think there is a downturn in order to hurt President Trump. But talk doesn’t make an economic downturn. Economic reports are telling an alarming story.
Egon von Greyerz, August 2019 (excerpts): “The world is now standing before a seminal moment and virtually nobody can see it. There has not been a more critical moment in the last 50 or even 100 years than what we are now facing. In 1971, the world faced a similar situation. At that time, only the Chinese understood the consequences of Nixon’s decision to close the gold window. The People’s Daily in China said in August 1971:
“These unpopular measures reflect the seriousness of the US economic crisis and the decay and
decline of the entire capitalist system. The paper went on…“mark the collapse of capitalist monetary system with the US dollar as its prop”….“Nixon’s new economic policy cannot extricate the US from financial and economic crisis.” The policy is meant to fleece the American working people and to shift the worsening of the US financial and monetary economic crisis onto other countries.”
So almost 50 years ago, China predicted “the decay and decline of the entire capitalist system.”
How right the Chinese were. Half a century later, the dollar has lost 98% in real terms, which of course is against gold. And against most paper currencies the dollar has also collapsed. Against the Swiss Franc for example, the dollar has lost 80% since 1971…”
US debt back in 1971 was $400 Billion vs $22 Trillion today, a mere 55x increase. US Gross Domestic Product was $1.2 trillion in 1971 vs $20 trillion today. So a 55x increase in US debt in the last 48 years has only produced a 17x increase in GDP. The US economy is running on empty, which is no wonder since massive money printing of worthless paper money cannot create any real wealth whatsoever but only inflated paper wealth. But it is not just the US which is in this position. Taking away the gold backing of the dollar in 1971 gave all countries a free for all right to print money and expand credit…
So in August 2019, central banks have, by their actions, told us that that the world is now facing the final phase of the destruction of the world economy that Nixon started in August 1971. The autumn of 2019 will see global trade decline rapidly as well as economic activity. Stock markets around the world will crash and currencies will continue their race to the bottom.
Since 1971, Gold is up 44x in dollars. But as I have explained many times, it is not really gold going up but paper money collapsing. This is what Nixon started almost half a century ago. Central banks around the world have now been handed the batten and they will finish the job in the next 3-6 years. Finishing the race means currencies going to ZERO and massive wealth destruction in the form of collapsing asset markets including stocks, bonds and property.
Sadly, 99% of investors will not realize that until their wealth has been wiped out. All stock investors will believe that central banks will save them again. But as I have outlined above, this time it will fail as we start a secular bear market in stocks and the world economy which will last a very long time and lead to a massive wealth destruction.” Read the whole article:
Brandon Smith, Alt-Market, August 21, 2019 (excerpts): In the past couple of weeks I have received a rush of emails asking about the sudden flood of recession and economic crash talk in the media. Does this abrupt 180 degree turn by the MSM (and global banks) on the economy warrant concern? Yes, it does.
The first inclination of a portion of the liberty movement will be to assume that mainstream reports of imminent economic crisis are merely an attempt to tarnish the image of the Trump Administration, and that the talk of recession is "overblown". This is partially true; Trump is meant to act as scapegoat, but this is not the big picture. The fact is, the pattern the media is following today matches almost exactly with the pattern they followed leading up to the credit crash of 2008. Make no mistake, a financial crash is indeed happening RIGHT NOW, just as it did after media warnings in 2007/2008, and the reasons why the MSM is admitting to it today are calculated...
Only in the past year has talk of recession begun to break out, and only in the past couple of weeks have outlets become aggressive in pushing the notion that a financial crash is just around the corner. The reality is that if one removes the illusory support of central bank stimulus, our economy never left the "Great Recession" of 2008. Signals of renewed sharp declines in economic fundamentals have been visible since before the 2016 elections. Alarms have been blaring on housing, auto markets, manufacturing, freight and shipping, historic debt levels, the yield curve, etc. since at least winter of last year, just as the Fed raised rates to their neutral rate of inflation and increased asset cuts from the balance sheet to between $30 billion to $50 billion or more per month.
When they do finally release the facts, or allow their puppet media outlets to report on the facts, it seems that they allow for around 6-8 months of warning time before economic shock events occur. In the case of the current crash in fundamentals (and eventually stocks), the time may be shorter. Why? Because this time the banks and the media have a scapegoat in the form of Donald Trump, and by extension, they have a scapegoat in the form of conservatives, populists, and sovereignty activists.
The vast majority of articles flowing through mainstream news feeds on economic recession refer directly to Trump, his supporters and the trade war as the primary villains behind the downturn. The warnings from the Fed (Federal Reserve), the BIS and the IMF insinuate the same accusation.
Anyone who has read my work for the past few years knows I have been warning about Trump as a false prophet for the liberty movement and conservatives in general. And everyone knows my primary concern has been that the globalists will crash the Everything Bubble on Trump's watch, and then blame all conservatives for the consequences. To be clear, Trump is not the cause of the Everything Bubble, nor is he the cause of its current implosion. No president has the power to trigger a collapse of this magnitude, only central banks have that power. When Trump argues that the Fed is causing a downturn, he is telling the truth, but when he claims that recession fears are exaggerated, or "inappropriate", he is lying... The tone of warning in the media indicates to me that the banking elites are about to tighten that noose.
To summarize, the mainstream media and global banking institutions have two goals in informing the public about recession right now - They are seeking to cover their own asses when the next shoe drops so they can say they "tried to warn us", and, they are conditioning a majority of the public to automatically blame conservatives and sovereignty proponents when the consequences hit them without mercy. Read the whole article at: http://www.alt-market.com/
Winter is coming!
How to prepare for the next recession BEFORE it arrives
If winter is coming, what can you do to prepare? Here are some actions I recommend:
· Destroy your debt! The number-one thing you can do to prep for economic winter is to get out of debt. As hard as doing so might seem now, it'll seem even more difficult during a recession — or a depression. Start a debt snowball. Do your best to grow it every month. It was a vast relief for me to not be in debt during the last economic downturn. It made everything easier to handle.
· Bolster your emergency fund. If you're in debt (or new to saving and investing), this step is especially important. The time to build your emergency fund is before you need it. Build it now, when times are flush. Don't worry about finding the perfect bank account. Pick a savings account that's easy for you to access, and start setting money aside. If you're just starting out, aim to set aside $1000 (and make this your top priority before anything else). If you already have some saved, save more. Most experts recommend setting aside enough to cover three to six months of expenses. Think of it as insurance in case you lose your job — or worse.
· Balance your budget. When things are humming along smoothly, it's all too easy to succumb to lifestyle inflation. You have more, so you spend more. But during economic autumn, you ought to review everything you're spending to make sure your budget is aligned with your values. Aim for big wins first. Do what you can to reduce how much you're spending on housing and transportation before tackling smaller expenses.
· Double-down at work. With unemployment relatively low, employers are eager to find quality employees. This might make it tempting to switch jobs. Think carefully before making the leap, however. If we do experience an economic downturn in the near future, new employees will be at greater risk for losing their positions. It might make more sense to double-down on your current job, making yourself even more valuable to your employer.
· Make sure your asset allocation matches your risk tolerance. This step is crucial, especially for folks who are heavily invested in the stock market (like me). A decade ago, you might have decided that based on your risk profile, you ought have 60% of your retirement in stock and 40% in bonds. Well, if you haven't made any adjustments lately, those numbers are likely to be way out of line. Economic autumn is the time to get these back to where they should be. (Unsure of your risk tolerance? Take the free Vanguard investor questionnaire to discover a suggested asset allocation.)
Basically, there are two keys to preparing for a recession: Beef up your cash reserves while reducing your ongoing expenses. All my specific recommendations support these two actions.
Based on this core concept, you can make appropriate adjustments for particular situation. You might, for instance, think twice before buying a home. It can be risky to buy a bigger home (and take on a bigger house payment) heading into an economic downturn. Your expenses go up just as your ability to pay takes on greater risk.
Read the whole article: https://www.getrichslowly.org/prepare-for-recession/
Congress Wants a NEW Entitlement Program
www.eagleforum.org August 2019
Since the enactment of the Family Medical Leave Act (FMLA) in 1993, companies with 50 or more employees have been providing 12 weeks or more of unpaid family or sick leave, with the guarantee that their employees will not lose their job during their leave.
Many states have enacted their own policies on top of FMLA, like paid family leave. A federally funded paid family leave program has been a talking point for Democrats, Republicans, and even the White House. It seems that both Democrat and Republican House Members and Senators largely agree on the creation of the program but disagree on the means to do so. The main Democratic bill, introduced by Senator Kirsten Gillibrand (D-NY) and Congresswoman Rosa DeLauro (D-CT), S.463/H.R. 1185, or the Family and Medical Insurance Leave Act (FAMILY Act), mandates 12 weeks of paid leave funded through the creation of a new payroll tax. Republicans favor Senator Marco Rubio’s (R-FL) and Congresswoman Anne Wagner’s (R-MO) legislation, S.90/H.R. 1940, or the New Parents Act. The New Parents Act permits a portion of an employee’s social security to be taken out for maternity/paternity leave in exchange for delaying the timeline in which they would collect those benefits when they reach beneficiary age.
The creation of a new entitlement program, even with potential balances like social security as a funding stream, will add to our nation’s debt and ultimately hurt the families the program is intended to benefit. Our country already holds $22 trillion in debt and Social Security is estimated to be insolvent in 16 years. Americans also don’t want more taxes taken out of their paychecks to fund a program they might not even use. Furthermore, it is likely that another economic security entitlement program will need to be created to cover the delay in Social Security eligibility for Americans who used their Social Security for family leave. A federal paid family leave policy is yet another example of Congress continuing to spend money we don’t have and ignoring the consequences of our national debt. Instead of spending more taxpayer money, Congress should enact policies aimed at deregulating and minimizing barriers to entry in business. When this happens, businesses will gain capital and be able to financially provide their employees with benefits they desire, like paid family leave. Eagle Forum will continue to fight the expansion of government at the expense of American families.
Nevada Families for Freedom Newsletter is published 12 times a year. The Subscription price is $25.
You can contribute online at www.nevadafamilies.org
or send a check to Nevada Families, 186 Ryndon Unit 12, Elko, Nevada 89801