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2017: A Banner Year for Corporate Mergers, Which Further Deepens Inequality
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Low interest rates, “quantitative easing,” and the mitigation of antitrust laws led to more mergers and acquisitions in 2017, but that’s only going to fuel greater wealth inequality and tighten the corporate grip on the political system, explains economist Michael Hudson.

GREGORY WILPERT: Welcome to The Real News Network. I’m Gregory Wilpert coming to you from Quito, Ecuador. The year 2017 is turning out to be another banner year for the centralization of capital, that is, according to an article in the Financial Times this week, “Global mergers and acquisitions exceeds three trillion dollars for the fourth straight year.” The article goes on to point out the following: Faced with the prospect of Amazon’s entry into the pharmacy business, the US’s biggest drugstore chain, CVS Health, agreed to acquire health insurer, Aetna for about $69 billion. Encroachment by Facebook and Netflix into sports, media and film production led Rupert Murdoch to sell most of his 21st Century Fox empire to Disney in a $66 billion deal.

The US remained the most active region for mergers and acquisitions with $1.4 trillion in deals. The numbers of US deals struck in 2017 combined climbed above 12,400 for a record figure. The largest deal in 2017 has yet to be resolved as Broadcom pursues a hostile $130 billion bid for rival chip maker, Qualcomm. Joining me to analyze the causes and consequences of this massive centralization of capital in 2017 is Michael Hudson. Michael is a distinguished Research Professor of Economics at the University of Missouri/Kansas City. He’s author of several books. The most recent among them is J is for Junk Economics. Welcome back, Michael.

MICHAEL HUDSON: Good to be back here.

GREGORY WILPERT: So, what at heart is causing all of this frenetic activity for companies to gobble up one another and thereby creating and ever greater centralization of capital?

MICHAEL HUDSON: It’s part of the neoliberal strategy to inflate the wealth of the 1%, basically by inflating the stock market and the real estate and the bond prices. Central banks are pursuing quantitative easing that offers money at almost zero interest rates. At the same time, you have the tax system’s giveaways to the FIRE sector, capped by deregulatory policies that are encouraging mergers and acquisitions by dismantling the antitrust legislation that has been in place since the New Deal.

The tax giveaways in the Republican tax law two weeks ago enables companies that have kept hundreds of billions of their earnings tax-free in offshore banking enclaves and tax avoidance centers to now shift them to their head office accounts. (Most were kept in U.S. dollars all along, but in the name of “false flag of convenience” companies.) All this tax-avoidance money that has been accumulating since 2004 can now be replaced in the name of the head companies instead of their just-pretend foreign affiliates in these tax avoidance centers.

So the companies are going to be very cash-rich. They’ve anticipated most of this and you can look at these mergers and acquisitions as part of an arbitrage operation. If a hedge fund, a bank or large corporation can borrow at 1%, they can buy stocks that are yielding 10% or even more – or, for that matter, even less. They can get an arbitrage difference between the 1% they pay and the stocks whose dividends pay a higher rate of return, 5, 6, 7, 8, or 9%.

When you buy enough stocks to give you control of a target company, that’s called mergers and acquisitions or corporate raiding. Hedge funds have been doing this, as well as corporate financial managers. With borrowed money you can take over or raid a foreign company too. So, you’re having a monopolistic consolidation process that’s pushed up the market, because in order to buy a company or arrange a merger, you have to offer more than the going stock-market price. You have to convince existing holders of a stock to sell out to you by paying them more than they’d otherwise get.

But suppose you’re a company that doesn’t want to be bought out. Suppose you’re a corporation trying to defend yourself from this merger and acquisition movement. In that case, you do is what they’ve done since the 1980s: You take a poison pill, using your earnings to buy your own stock. Some companies even borrow to buy up their own stock, or they simply increase their dividend payouts so much that it pushes up the stock and leaves nothing in the corporate treasury to be raided by these raiders.

The upshot is that on the part of attackers and defenders alike, you have a process that bids up stock prices. Since the vast majority of stocks are owned by the 1%, and certainly by the 10%, the effect is to increase the wealth of the 1 to 10% in comparison to the wages the bottom 99% get. That basically is the financial and fiscal war in a nutshell.

GREGORY WILPERT: Just a quick question. You’re saying that low interest rates and quantitative easing are among the key factors here. But aren’t those policies also good for the bottom 90%? After all, it keeps interest rates low for ordinary borrowers, such as people who have mortgages or credit cards to pay off, and also helps keep unemployment low. What would be the alternatives if you don’t want to cause unemployment to go up by raising interest rates?

MICHAEL HUDSON: Why on earth would the 1% want to help the 99%? No, it hasn’t helped them at all.

ORDER IT NOW

If you’re a member of the 99%, you don’t get to borrow at 1%. Banks and hedge funds get to borrow at 1%. If you’re a credit card customer, you’re paying the same credit card rate as you’re always paying. And if you miss a payment, even to a utility company, your rate still goes up to 29% or whatever. And if the bank won’t lend to you, you still have to pay 50% or 100% or 500% to the payday loan people backed by JPMorgan Chase and other Wall Street banks as major customers. So no, the 99% have not benefited from quantitative easing. Quantitative easing is to benefit the financial sector, which means basically the 1%, not benefit the rest of the economy.

We’re living in a world that’s divided into two economies: the economy of the 1%, and the economy of the bottom 99%. I guess you could be more “centrist” and say the top 10% versus the bottom 90%. But there’s definitely a stratification at work here.

GREGORY WILPERT: The Financial Times quotes analysts who say that they expect mergers and acquisitions to accelerate even more in 2018. You touched on this when you mentioned the Republican tax reform. So would you basically agree that M&A will accelerate? What are some of the underlying causes for a further continuation of this process of centralization?

MICHAEL HUDSON: There are two underlying causes. For one thing, now that the Republicans are in power in the United States – and I don’t think it would matter if Hillary’s Democrats were in power – they’re not enforcing the antitrust regulations. What deterred a lot of mergers and acquisitions in the past was the threat of creating a monopoly, so the antitrust laws prevented you. But now they’re saying, you can make a monopoly, but make sure the 99% pay through the nose. You can make a monopoly and charge the 99% higher monopolized prices.

So, what you’re having is a rentier revolution. The aim of the 1% isn’t to make money by profits by employing labor. It’s to make economic rent. It’s to make monopoly rent, land rent and financial rent.

For instance, if you end internet neutrality and permit mergers of the big information technology corporations, that’s a form of rent seeking. It’s part of today’s political revolution.

Another part of the tax law that is going to encourage the mergers and acquisition is the 100% depreciation write-off. Usually if a company makes a capital investment in a building, railroad or airplane, it gets a credit to recover this capital expense. You only pay income tax on profits (the return on capital), not on the return of capital.

Under the new law, however, instead of taking maybe 5% of the cost of this capital investment in an airplane, railroad, truck or building for a year, you can take 100% of it off as tax deductible – up to 100%, in any given year. This makes many corporations tax exempt altogether. Suppose you’re a company that simply lives on rent, or that makes a profit but isn’t investing much. As we all know, corporate investment is scaled way back because corporations aren’t using their earnings to invest. They’re using 92% of their revenue for stock buybacks or for dividend payouts in the last five years.

But now, all of a sudden, companies can use these earnings to buy a capital-spending company, like a railroad, trucking company, or an airline that’s going to buy airplanes. You can merge with this company. All of a sudden they get tax exemption on all of their other income that they earn, because it’s such a huge gusher of tax write-offs from the immediate 100% depreciation.

The pretense of Donald Trump was, “Oh, this is going to encourage capital investment.” But the neoliberal objective is not to make any real capital investment at all, not to employ any more labor at all, but to buy something that the tax law counts as an investment. We don’t know whether they’re going to include research and development in this, or market research. We don’t really know how widely and broadly they’re going to define this capital investment write-off.

The other point I mentioned is the ability to bring corporate tax-avoidance money from the accounts of offshore banking enclaves to the head office. That is going to be a flood of cash even greater than the quantitative easing at 1%. The result will be a free-for-all as companies try to absorb as many other companies as they can, especially capital-intensive companies like in the transport industry.

GREGORY WILPERT: So, as the centralization effect continues. What effect do you see this having on politics, that is, how do you expect people to react at the voting booths? And then, since the Republican Party probably won’t do anything, since they’re the ones who perpetrated this particular latest change in the tax law, what do you expect the Democratic Party to do if they were to come into power?

MICHAEL HUDSON: My answer may seem counterintuitive. I think the Republican tax law is so bad that it almost guarantees a Republican victory, precisely because it’s so bad. The seeming irony is that it’s so bad that it enables the Democratic Party to think, “A-ha, all we have to do is be the lesser evil. We can now kick out all the supporters of Bernie Sanders, kick out anyone who supports Elizabeth Warren. We can declare war on the pro-labor part of the Democratic Party. The Republican Party is the party of the 1%, but we can be the party of the 10%, while pretending that we’re for the 99%.”

If the Democratic leaders keep trying to convert Republicans instead of holding the traditional Democratic constituency, there’s going to be a bloodbath in the Democratic Party as the Hillary supporters fight against the Bernie supporters, fight against labor, against unionization, and against consumers. That’s basically the Democratic program. It is going to end up fracturing the Democratic Party.

I can’t believe that Bernie and Elizabeth and the others are going to stand by and let the Democratic Party be captured by the donor class that controls it now. I think there’s going to be a bloodbath that is probably going to take more than four years.

ORDER IT NOW

My hope is that the Democratic party will indeed split, and that the donor class will go where it belongs – with the rest of the Republican Party. This will leave a rump party to become a new social-democratic party, either a democratic socialist party or something like the British Labour Party became when it threw off the Tony Blair neoliberals. That’s what it looks like will have to happen in America. The lesser evil policy of the Democrats isn’t going to wash as a campaign simply against the Trump tax giveaway.

GREGORY WILPERT: Okay. Well, we’re going to leave it there for now. I was speaking to Michael Hudson, Professor of Economics at the University of Missouri–Kansas City. Thanks again for having joined us today, Michael.

MICHAEL HUDSON: It’s good to be here. Thanks.

GREGORY WILPERT: And thank you for joining The Real News Network. If you like our news and analysis, please don’t forget to donate to The Real News this holiday season.

(Republished from The Real News Network by permission of author or representative)
 
• Category: Economics • Tags: Neoliberalism, Wall Street 
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  1. As usual with Professor Hudson, his diagnosis is correct, his prescription useless.

    The result of the mergers and buybacks will indeed be that the corporations will wind up being the backbone of corporate America after the economic emergency is declared. There is no political solution to the problem. This is nature taking its course in an overcrowded world where, especially in the USA, the population has become dependent on the wheels of commerce turning for their daily bread.

    This will not change until the population of the world is reduced. Said reduction is not likely to be a pleasant process.

    Read More
    • Replies: @jilles dykstra
    The solution of course is nationalism, restriction of free capital movement, and some economic protection.
    The situation that existed in European countries while we still had the EEC, the European Economic Community.
    The euro took this away for countries using this disaster.
    , @dfordoom

    This will not change until the population of the world is reduced.
     
    So how exactly do you see this being achieved?

    Actually white people are doing their bit already. They're already committing demographic suicide.
    , @Rafael Martorell
    no it wont if me or my wife and children and friends are the ones of the "to be reduced".
    MH is the smarter person out there period
    ReplyAgree/Disagree/Etc.
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  2. The USA like any other entity has so -and so much money in the pot. If 40+ percent is in the hands of people who are content to allow it to just make more money and not do useful work the entity will implode as the percentage of money removed from usefulness continues to grow. This happened in 1929 with a much smaller percentage removed from the pot.
    There is one tiny chance this trend can be reversed.

    https://robertmagill.wordpress.com/2017/05/02/the-art-of-the-deal/

    Read More
    • Replies: @bartok
    fallacy of composition

    The federal deficit creates money (money spent into existence by Congressional appropriation), as do asset bubbles (assets are collateral for money promised into existence through promissory instruments: loans, notes and bonds).

    Did you take that into account in claiming


    The USA like any other entity has so -and so much money in the pot.
     
    ?
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  3. giant conglomerates already control everything. if they are all forced to use the brand name of the parent company, the illusion might pop. might.

    Read More
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  4. bartok says:
    @Robert Magill
    The USA like any other entity has so -and so much money in the pot. If 40+ percent is in the hands of people who are content to allow it to just make more money and not do useful work the entity will implode as the percentage of money removed from usefulness continues to grow. This happened in 1929 with a much smaller percentage removed from the pot.
    There is one tiny chance this trend can be reversed.

    https://robertmagill.wordpress.com/2017/05/02/the-art-of-the-deal/

    fallacy of composition

    The federal deficit creates money (money spent into existence by Congressional appropriation), as do asset bubbles (assets are collateral for money promised into existence through promissory instruments: loans, notes and bonds).

    Did you take that into account in claiming

    The USA like any other entity has so -and so much money in the pot.

    ?

    Read More
    • Replies: @Robert Magill
    The source of the money is not of interest here, only the total and the percentage of that total devoted to simply making more money versus the percentage doing actual work. We were told we had learned this lesson from the 1929 fiasco. Apparently not.
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  5. Globalisation, and free capital movement, took away the possibility for nation states to protect their citizens.

    http://media.tpo.nl/2018/01/03/kostelijke-beelden-boze-drammende-millennials-allemaal-schuld-anderen-vinden/

    Undertitle ‘We zijn bang dat het hier net zo wordt als in de VS’.
    Translation
    ‘w’re afraid that it is becoming here as it is in the USA’.

    Warren Buffett, in an interview ‘there is a war going on between rich and poor, the rich will win’.
    And they do, until now, an economic indicator is the part of national income going to labour, the other part goes to capital.
    Over say the last ten year the part going to labour steadily declined.

    Read More
    • Replies: @jacques sheete

    Warren Buffett, in an interview ‘there is a war going on between rich and poor, the rich will win’.
     
    Historically speaking, over the medium to long term, they always do. There are several reasons for this, but it seems useless to dwell on them since the situation will never change. In practice, the best an individual can do is to do the best he can according to his values. The worst one can do is to give up or sit around fantasizing about some messiah.

    As for groups, I have no answer. They seem to have life cycles like mushrooms after a rain; they sprout, develop, change, and then melt away, in endless cycles of varying length. This, too will never change, and while it's easy to describe the problem, anyone who believes he has "the" solution, especially a permanent one, is probably as misguided as he is well meaning.

    If one is not the "active" sort, then probably the best one can do is hope that evolution develops in one's favor, but good luck with that!
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  6. @another fred
    As usual with Professor Hudson, his diagnosis is correct, his prescription useless.

    The result of the mergers and buybacks will indeed be that the corporations will wind up being the backbone of corporate America after the economic emergency is declared. There is no political solution to the problem. This is nature taking its course in an overcrowded world where, especially in the USA, the population has become dependent on the wheels of commerce turning for their daily bread.

    This will not change until the population of the world is reduced. Said reduction is not likely to be a pleasant process.

    The solution of course is nationalism, restriction of free capital movement, and some economic protection.
    The situation that existed in European countries while we still had the EEC, the European Economic Community.
    The euro took this away for countries using this disaster.

    Read More
    • Replies: @another fred

    The solution of course is nationalism, restriction of free capital movement, and some economic protection.
     
    Not to argue the case for the EU, but there are problems inherent in your solution that the EU was supposed to address. It is widely believed that conflict is inherent in your solution and that it will lead to war. Because of this belief your solution will not be applied until it is the only open avenue.

    My personal belief is that war is rooted much deeper than that and would come either way. A bursting of the credit bubble will most likely result in your solution being applied in a chaotic manner.

    Do not misunderstand me, I do not propose that a reduction in population will be a solution to the problems of history, just that it will lower pressure on the system sufficiently to allow human beings to continue to muck along with a lower threat of annihilation.
    , @m___
    Indeed, on Hudson, indeed on what is going to be the anticipated future. Let's keep contact as far as the planetary play-outs. Population i-s going to be the determinating oscillator.

    The webpage referred to, is just a jest, in between others, economics over the last years.

    Again, let's keep in contact, your vision is politically incorrect, very little understood, no mass media translation possible, yet population is the evident core where to unarmor the whirling excesses and incomprehension at once in the long term.
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  7. @bartok
    fallacy of composition

    The federal deficit creates money (money spent into existence by Congressional appropriation), as do asset bubbles (assets are collateral for money promised into existence through promissory instruments: loans, notes and bonds).

    Did you take that into account in claiming


    The USA like any other entity has so -and so much money in the pot.
     
    ?

    The source of the money is not of interest here, only the total and the percentage of that total devoted to simply making more money versus the percentage doing actual work. We were told we had learned this lesson from the 1929 fiasco. Apparently not.

    Read More
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  8. Che Guava says:

    Global mergers and acquisitions exceeds three trillion dollars

    Well, the writer is a moron, ‘exceeds’ is not a verb declension to matching two plural nouns.

    I am agreeing in general with the points Mr. Hudson is making, as usual, but to make a response in detail would be without a point, since he is never replying to comments.

    Still, I am thinking Patrick Bateman’s ‘I’m in murder and assassination’, (M&A) in both the original novel and the quite faithful movie, were making a clear and similar point (to those capable of critical thought, meaning most here except the Zionist propaganda army members who are to descending in vast swarms at times, particularly in responding to the great Mr. Giraldi).

    When on holidays (as now until the weekend), if the place I am staying at is to having USA TV shows (narrative series) on TV, I will watch some. They are mainly such pathetic, brainless, and blatant propaganda ops., full of repetition from each other, cheap emotionalism, but apparently effective with MSM ‘opinion formers’, since I was only starting this habit after reading US articles saying things like ‘new golden age of television’.

    Intention is clearly to make people stupid and propagate stupid and cliched ways of speaking and behaving.

    The blatant quality is amazing me.

    Saw an episode of the new Hawaii 5-0 for the first time tonight. It is worse and even more stupid than most.

    Not that most TV in Japan has not mainly become terrible (in some similar, some very different ways), but off-topic enough.

    My point is the obvious, making people stupid makes any real response to the real siuation Mr. Hudson is describing less possible.

    Read More
    • Replies: @jacques sheete

    The blatant quality is amazing me...making people stupid makes any real response to the real situation Mr. Hudson is describing less possible.
     
    All true, particularly those points, which are two of the reasons I don't believe there is a permanent solution. People seem to find comfort in stupid ideas and simple responses, and even people with high IQs are perfectly capable of acting very stupidly, repeatedly, and even permanently. (Lots of extremely high IQ deadbeats, for instance.)

    Which is why I put little faith in gurus, oracles, soothsayers, messiahs, priests, politicians and the various other assorted "experts," authorities, and other forms of know-it-alls and quacks.

    As "another fred" wrote in comment #1,


    As usual with Professor Hudson, his diagnosis is correct, his prescription useless.
     
    While true, I'd say that principle applies across the board, not only to Prof Hudson.
    , @Anonymous
    The Real News Network doesn't make people stupid. The point is to have content and interviews that don't say much of anything. Readers can then be directed to politics by inculating them with gossip or implying that their vote is something that it isn't. This kind of propaganda is highly effective for most people by understanding first their capacity to be manipulated.
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  9. @jilles dykstra
    Globalisation, and free capital movement, took away the possibility for nation states to protect their citizens.

    http://media.tpo.nl/2018/01/03/kostelijke-beelden-boze-drammende-millennials-allemaal-schuld-anderen-vinden/
    Undertitle 'We zijn bang dat het hier net zo wordt als in de VS'.
    Translation
    'w're afraid that it is becoming here as it is in the USA'.

    Warren Buffett, in an interview 'there is a war going on between rich and poor, the rich will win'.
    And they do, until now, an economic indicator is the part of national income going to labour, the other part goes to capital.
    Over say the last ten year the part going to labour steadily declined.

    Warren Buffett, in an interview ‘there is a war going on between rich and poor, the rich will win’.

    Historically speaking, over the medium to long term, they always do. There are several reasons for this, but it seems useless to dwell on them since the situation will never change. In practice, the best an individual can do is to do the best he can according to his values. The worst one can do is to give up or sit around fantasizing about some messiah.

    As for groups, I have no answer. They seem to have life cycles like mushrooms after a rain; they sprout, develop, change, and then melt away, in endless cycles of varying length. This, too will never change, and while it’s easy to describe the problem, anyone who believes he has “the” solution, especially a permanent one, is probably as misguided as he is well meaning.

    If one is not the “active” sort, then probably the best one can do is hope that evolution develops in one’s favor, but good luck with that!

    Read More
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  10. @Che Guava
    Global mergers and acquisitions exceeds three trillion dollars

    Well, the writer is a moron, 'exceeds' is not a verb declension to matching two plural nouns.

    I am agreeing in general with the points Mr. Hudson is making, as usual, but to make a response in detail would be without a point, since he is never replying to comments.

    Still, I am thinking Patrick Bateman's 'I'm in murder and assassination', (M&A) in both the original novel and the quite faithful movie, were making a clear and similar point (to those capable of critical thought, meaning most here except the Zionist propaganda army members who are to descending in vast swarms at times, particularly in responding to the great Mr. Giraldi).

    When on holidays (as now until the weekend), if the place I am staying at is to having USA TV shows (narrative series) on TV, I will watch some. They are mainly such pathetic, brainless, and blatant propaganda ops., full of repetition from each other, cheap emotionalism, but apparently effective with MSM 'opinion formers', since I was only starting this habit after reading US articles saying things like 'new golden age of television'.

    Intention is clearly to make people stupid and propagate stupid and cliched ways of speaking and behaving.

    The blatant quality is amazing me.

    Saw an episode of the new Hawaii 5-0 for the first time tonight. It is worse and even more stupid than most.

    Not that most TV in Japan has not mainly become terrible (in some similar, some very different ways), but off-topic enough.

    My point is the obvious, making people stupid makes any real response to the real siuation Mr. Hudson is describing less possible.

    The blatant quality is amazing me…making people stupid makes any real response to the real situation Mr. Hudson is describing less possible.

    All true, particularly those points, which are two of the reasons I don’t believe there is a permanent solution. People seem to find comfort in stupid ideas and simple responses, and even people with high IQs are perfectly capable of acting very stupidly, repeatedly, and even permanently. (Lots of extremely high IQ deadbeats, for instance.)

    Which is why I put little faith in gurus, oracles, soothsayers, messiahs, priests, politicians and the various other assorted “experts,” authorities, and other forms of know-it-alls and quacks.

    As “another fred” wrote in comment #1,

    As usual with Professor Hudson, his diagnosis is correct, his prescription useless.

    While true, I’d say that principle applies across the board, not only to Prof Hudson.

    Read More
    • Agree: Alden
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  11. Allan says:

    You ought to know that you’re dealing with a criminally deceiful kook when an economist, allegedly a professional, uses the humanist buzz term “neoliberal” as does Hudson. The crank does not disappoint the alert reader who has detect

    Read More
    • Replies: @Wally
    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class 'single digits, 50% pay zero fed. taxes
    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says "Tax Cuts Aren't Sufficient", while at the same time they say "Tax cuts won't do anything for the economy".

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.
    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.
    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  12. @jilles dykstra
    The solution of course is nationalism, restriction of free capital movement, and some economic protection.
    The situation that existed in European countries while we still had the EEC, the European Economic Community.
    The euro took this away for countries using this disaster.

    The solution of course is nationalism, restriction of free capital movement, and some economic protection.

    Not to argue the case for the EU, but there are problems inherent in your solution that the EU was supposed to address. It is widely believed that conflict is inherent in your solution and that it will lead to war. Because of this belief your solution will not be applied until it is the only open avenue.

    My personal belief is that war is rooted much deeper than that and would come either way. A bursting of the credit bubble will most likely result in your solution being applied in a chaotic manner.

    Do not misunderstand me, I do not propose that a reduction in population will be a solution to the problems of history, just that it will lower pressure on the system sufficiently to allow human beings to continue to muck along with a lower threat of annihilation.

    Read More
    • Replies: @another fred

    ... just that it will could lower pressure on the system sufficiently to allow human beings to continue to muck along with a lower threat of annihilation.
     
    I should have used "could" as there is also the possibility that the next war might result in annihilation, or a very close approximation.
    ReplyAgree/Disagree/Etc. More... This Commenter This Thread Hide Thread Display All Comments
  13. @another fred

    The solution of course is nationalism, restriction of free capital movement, and some economic protection.
     
    Not to argue the case for the EU, but there are problems inherent in your solution that the EU was supposed to address. It is widely believed that conflict is inherent in your solution and that it will lead to war. Because of this belief your solution will not be applied until it is the only open avenue.

    My personal belief is that war is rooted much deeper than that and would come either way. A bursting of the credit bubble will most likely result in your solution being applied in a chaotic manner.

    Do not misunderstand me, I do not propose that a reduction in population will be a solution to the problems of history, just that it will lower pressure on the system sufficiently to allow human beings to continue to muck along with a lower threat of annihilation.

    … just that it will could lower pressure on the system sufficiently to allow human beings to continue to muck along with a lower threat of annihilation.

    I should have used “could” as there is also the possibility that the next war might result in annihilation, or a very close approximation.

    Read More
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  14. All that merging can be undone with the stroke of a governmental pen. Ownership everywhere is at the sufferance of some governmental entity.

    For example, your ownership of your house is because local government, a small division of big government, allows it. Your rental fee for your house is your annual tax bill.

    Not to worry. When all money has accreted into one hand, government will simply print more, and, distribute it buying roads, bridges and bombs. And housing, food stamps, free Obama phones, etc.

    Political power trumps financial power. Chairman Mao said political power comes out of the barrel of a gun. So, who has the most guns in your neck of the woods?

    Chairman Mao was right.

    Read More
    • Replies: @another fred

    All that merging can be undone with the stroke of a governmental pen. Ownership everywhere is at the sufferance of some governmental entity.
     
    What cannot be done at the stroke of a pen is the restoration of the small farms and businesses, with the independent hearts that drove them, which formed the backbone of the USA. Nor can one find, with the stroke of a pen, a change of heart and useful productive employment for the hordes who know nothing but government largess and the underground economy for their sustenance.

    We are overpopulated. The mass of the American people are not going to sit back while you take your guns and try to solve that problem. I predict that you will be crushed if you attempt it. I also predict that Nature will take care of the population problem, and therefore patience will serve you well if you have it in you.

    , @Anonymous
    The wealthiest owners depend on the Government, otherwise they would be in deep trouble.
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  15. Wally says: • Website
    @Allan
    You ought to know that you're dealing with a criminally deceiful kook when an economist, allegedly a professional, uses the humanist buzz term "neoliberal" as does Hudson. The crank does not disappoint the alert reader who has detect

    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says “Tax Cuts Aren’t Sufficient”, while at the same time they say “Tax cuts won’t do anything for the economy”.

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill

    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.

    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.

    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    Read More
    • Replies: @Anonymous
    The welfare class doesn't worry about income taxes, their income is like Trump's - well hidden by the good graces of Government that they set up to allow them to do so. Meanwhile the proles pay taxes every day and as a much greater percentage of their wealth.

    Say, where's the race-religion content? I'm worried you aren't an FBI bot.

    , @bluedog
    Hmm the top 20% pays 95% of the taxes,,then why in hell do those 20% fight a flat tax till their last breath,ah tax cuts now there's a joke lets see trillions upon trillions in debt and its tax cuts, and where does most of the tax cuts go why the 1% and corporations of course rather than the working class which is the driver of any economy.Nothing but utter rubbish some would even call it by its true name PROPAGANDA...
    , @Sane Left Libertarian

    Top 20% pay 95% of taxes

     

    They also own nearly 90% of the wealth in the country. And yet they are forever bitching about how they don't get enough.

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill

     

    And will lose 5-10 times this much in benefits that they need to survive.

    I think if you tried really hard you might find a more biased source than breitbart and amThink, but it will take some work.
    , @Alden
    American Thinker is an Israeli government front. It should be renamed Zionist Thinker.
    , @Reg Cæsar
    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    I'd like to see a racial breakdown of this. And a worldwide one as well.
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  16. There is no need to worry!
    The 1% has the best economists at their disposition,so they know how far they can go.
    On the other hand there is also the dissolution of the capital, The wealthy have to divide their capital among their descendants.
    All this means that condition for procreation are for wealthy is much more favorable than for the poor.
    This is the truth about progress of humanity. And here is the reason that why Zionist Globalist strongly push for emigration. People from less developed countries procreate more under continuous decrease of living standards than the native poor population. This enables the Zionist Globalists to maintain this process. But by this process they are only postponing the inevitable.

    Read More
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  17. @HallParvey
    All that merging can be undone with the stroke of a governmental pen. Ownership everywhere is at the sufferance of some governmental entity.

    For example, your ownership of your house is because local government, a small division of big government, allows it. Your rental fee for your house is your annual tax bill.

    Not to worry. When all money has accreted into one hand, government will simply print more, and, distribute it buying roads, bridges and bombs. And housing, food stamps, free Obama phones, etc.

    Political power trumps financial power. Chairman Mao said political power comes out of the barrel of a gun. So, who has the most guns in your neck of the woods?

    Chairman Mao was right.

    All that merging can be undone with the stroke of a governmental pen. Ownership everywhere is at the sufferance of some governmental entity.

    What cannot be done at the stroke of a pen is the restoration of the small farms and businesses, with the independent hearts that drove them, which formed the backbone of the USA. Nor can one find, with the stroke of a pen, a change of heart and useful productive employment for the hordes who know nothing but government largess and the underground economy for their sustenance.

    We are overpopulated. The mass of the American people are not going to sit back while you take your guns and try to solve that problem. I predict that you will be crushed if you attempt it. I also predict that Nature will take care of the population problem, and therefore patience will serve you well if you have it in you.

    Read More
    • Agree: bluedog
    • Replies: @HallParvey

    What cannot be done at the stroke of a pen is the restoration of the small farms and businesses, with the independent hearts that drove them, which formed the backbone of the USA. Nor can one find, with the stroke of a pen, a change of heart and useful productive employment for the hordes who know nothing but government largess and the underground economy for their sustenance.
     
    Very true. You really can never go home again. Because the home of your memory does not exist anymore. They paved Paradise and put up a perking lot.

    As far as the portion of my comment referencing guns goes, I meant that the vastly superior firepower of governmental forces, at all levels, from the local sheriff, to the US army, are the source of all political power in this country. The Supreme Court edicts, sorry, interpretations, of the U.S. Constitution are just so much noise without the force applied by the people with firepower and the willingness to use it.
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  18. nickels says:

    Anytime democrats want to abandon sodomy and Marxism to become the party of labor again….
    Till then they are just fooling themselves.

    Read More
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  19. Anonymous • Disclaimer says:
    @Che Guava
    Global mergers and acquisitions exceeds three trillion dollars

    Well, the writer is a moron, 'exceeds' is not a verb declension to matching two plural nouns.

    I am agreeing in general with the points Mr. Hudson is making, as usual, but to make a response in detail would be without a point, since he is never replying to comments.

    Still, I am thinking Patrick Bateman's 'I'm in murder and assassination', (M&A) in both the original novel and the quite faithful movie, were making a clear and similar point (to those capable of critical thought, meaning most here except the Zionist propaganda army members who are to descending in vast swarms at times, particularly in responding to the great Mr. Giraldi).

    When on holidays (as now until the weekend), if the place I am staying at is to having USA TV shows (narrative series) on TV, I will watch some. They are mainly such pathetic, brainless, and blatant propaganda ops., full of repetition from each other, cheap emotionalism, but apparently effective with MSM 'opinion formers', since I was only starting this habit after reading US articles saying things like 'new golden age of television'.

    Intention is clearly to make people stupid and propagate stupid and cliched ways of speaking and behaving.

    The blatant quality is amazing me.

    Saw an episode of the new Hawaii 5-0 for the first time tonight. It is worse and even more stupid than most.

    Not that most TV in Japan has not mainly become terrible (in some similar, some very different ways), but off-topic enough.

    My point is the obvious, making people stupid makes any real response to the real siuation Mr. Hudson is describing less possible.

    The Real News Network doesn’t make people stupid. The point is to have content and interviews that don’t say much of anything. Readers can then be directed to politics by inculating them with gossip or implying that their vote is something that it isn’t. This kind of propaganda is highly effective for most people by understanding first their capacity to be manipulated.

    Read More
    • Replies: @Che Guava
    To this Anon,

    What I was meaning is *not* USA news and commentary, I am already knowing that is on the level of 'I'll buy that for a dollar!', I am meaning police, nationl security, political, legal, medical, and weird (in a bad way) science-fictional dramas.

    For the sake of people of the USA (and the world, in two cases), I pray that the majority of those in the first five in real life are not like their screen depictions. However, for the law and politics, at least, many are looking the same to an outside observer.

    Did enjoy the several re-runs of Desperate Housewives that I have seen, sure can see how it is subtly anti-social propaganda, but was enjoying the style, irony, and twisting of plot.

    ... but that is old material.
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  20. Anonymous • Disclaimer says:
    @HallParvey
    All that merging can be undone with the stroke of a governmental pen. Ownership everywhere is at the sufferance of some governmental entity.

    For example, your ownership of your house is because local government, a small division of big government, allows it. Your rental fee for your house is your annual tax bill.

    Not to worry. When all money has accreted into one hand, government will simply print more, and, distribute it buying roads, bridges and bombs. And housing, food stamps, free Obama phones, etc.

    Political power trumps financial power. Chairman Mao said political power comes out of the barrel of a gun. So, who has the most guns in your neck of the woods?

    Chairman Mao was right.

    The wealthiest owners depend on the Government, otherwise they would be in deep trouble.

    Read More
    • Replies: @Sane Left Libertarian

    The wealthiest owners depend on the Government, otherwise they would be in deep trouble

     

    Indeed. The main function of the US government is to protect the owning class and their servants in DC from the hoi polloi.
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  21. Anonymous • Disclaimer says:
    @Wally
    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class 'single digits, 50% pay zero fed. taxes
    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says "Tax Cuts Aren't Sufficient", while at the same time they say "Tax cuts won't do anything for the economy".

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.
    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.
    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    The welfare class doesn’t worry about income taxes, their income is like Trump’s – well hidden by the good graces of Government that they set up to allow them to do so. Meanwhile the proles pay taxes every day and as a much greater percentage of their wealth.

    Say, where’s the race-religion content? I’m worried you aren’t an FBI bot.

    Read More
    • Replies: @Wally
    Sorry, but you ignored:

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

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  22. Please see my comment at Romans and Greeks.

    Read More
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  23. m___ says: • Website
    @jilles dykstra
    The solution of course is nationalism, restriction of free capital movement, and some economic protection.
    The situation that existed in European countries while we still had the EEC, the European Economic Community.
    The euro took this away for countries using this disaster.

    Indeed, on Hudson, indeed on what is going to be the anticipated future. Let’s keep contact as far as the planetary play-outs. Population i-s going to be the determinating oscillator.

    The webpage referred to, is just a jest, in between others, economics over the last years.

    Again, let’s keep in contact, your vision is politically incorrect, very little understood, no mass media translation possible, yet population is the evident core where to unarmor the whirling excesses and incomprehension at once in the long term.

    Read More
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  24. bluedog says:
    @Wally
    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class 'single digits, 50% pay zero fed. taxes
    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says "Tax Cuts Aren't Sufficient", while at the same time they say "Tax cuts won't do anything for the economy".

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.
    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.
    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    Hmm the top 20% pays 95% of the taxes,,then why in hell do those 20% fight a flat tax till their last breath,ah tax cuts now there’s a joke lets see trillions upon trillions in debt and its tax cuts, and where does most of the tax cuts go why the 1% and corporations of course rather than the working class which is the driver of any economy.Nothing but utter rubbish some would even call it by its true name PROPAGANDA…

    Read More
    • Replies: @Wally
    IOW, you dodged the content in my references and resort to childish ranting.

    https://media.giphy.com/media/TL2Yr3ioe78tO/giphy.gif
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  25. Riverside says:

    “I can’t believe that Bernie and Elizabeth and the others are going to stand by and let the Democratic Party be captured by the donor class that controls it now.”

    A very strange sentence. In one part of the sentence he’s talking future tense, pretending that the fake-lefties in the party will not let this happen. Then in the second part of the sentence, he tells you that it has already happened.

    Actually, it happened a long time ago. Back when the Clintons and the Gores moved the Democrats away from its traditional farm-labor-middle class base to instead rake in corporate money by being the party of the 1%. This happened back in the 1980′s. The Clinton Presidency in the 1990′s showed to any who were watching that it had occured, as Rubin and Wall Street took full control of both the government and the Democratic Party.

    I left the Democrats back then because I could see it had happened.

    Yet, the Democratic supporters constantly pretend that it has not happened. I’ve said “(D) is for Liar” for 20 years now because what the Democrats say about supporing ordinary people has been a big lie for at least that long. The Democrats pretend to care about ordinary people, yet they have been the party of the 1% ever since the Clintons took them that way 20-30 years ago.

    Thus, you see the confused sentence structure in this interview where Mr. Hudson tries to say that the fake-populists that the Democrats put forward won’t let this happen, then in the same sentence he admits that it has already happened.

    And the one thing we know absolutely for sure after 2016, and pretty much knew for years before, which is that the Democratic Party is a corrupt party that colludes and rigs its internal processes to deny any democracy, and that trying to change this corrupt party from within simply will not work. Bernie’s campaign proved that to any who had not been paying attention for the years in which its been true.

    Which means, since the Democrats are not going to allow change from within, then only option is to defeat and destroy the Democrats from without.

    Or, as a famous Democratic President once said “Those who make peaceful change impossible make violent revolution inevitable” — JFK, famously quoted by Dr. King in his Riverside Church speech.

    I don’t support violent revolution and blood in the streets. But I do support any movement that aims to defeat and destroy the Democratic Party that now only represents Wall Street and the 1% yet constantly lies to the rest of the nation about that. Destroying the Democrats is the only way forward. The Democrats have to go the way of the Whigs.

    Read More
    • Replies: @bluedog
    Both parties have to go for one is no different than the other both funded by the same group,as J.P. Morgan said way back when if we want to protect our wealth we need to buy the president, they did and its never changed.
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  26. Wally says:
    @Anonymous
    The welfare class doesn't worry about income taxes, their income is like Trump's - well hidden by the good graces of Government that they set up to allow them to do so. Meanwhile the proles pay taxes every day and as a much greater percentage of their wealth.

    Say, where's the race-religion content? I'm worried you aren't an FBI bot.

    Sorry, but you ignored:

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    Read More
    • Replies: @Anonymous
    Capital gains are how the wealthy are making the money. They’re not treated as income.

    Real estate never pays a capital gains tax. It’s a zero, decade after decade, century after century.

    Rich people actually don’t earn anything at all, because if you earn a profit, you have to pay a tax on it.

    Poor Americans pay higher tax rates than the richest 1% when all taxes are considered.

    The Washington Examiner raises an excellent question - how much is 95% of not so much versus 20% of everything you got? See here:

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    , @Reg Cæsar

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes
     
    A large part of that 50% were born abroad. If they can't earn enough to meet the tax threshold, they should never have been allowed in.

    We need to bond immigrants against penury. If they can't afford the bond, we can't afford them.
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  27. Wally says:
    @bluedog
    Hmm the top 20% pays 95% of the taxes,,then why in hell do those 20% fight a flat tax till their last breath,ah tax cuts now there's a joke lets see trillions upon trillions in debt and its tax cuts, and where does most of the tax cuts go why the 1% and corporations of course rather than the working class which is the driver of any economy.Nothing but utter rubbish some would even call it by its true name PROPAGANDA...

    IOW, you dodged the content in my references and resort to childish ranting.

    Read More
    • Replies: @bluedog
    Not at all its just the rubbish the propaganda that's been run thru the media and press for years just wash rinse and repeat,as Buffet said my secretary pays more in taxes then I do (income vs taxes),well at least he was honest..
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  28. bluedog says:
    @Wally
    IOW, you dodged the content in my references and resort to childish ranting.

    https://media.giphy.com/media/TL2Yr3ioe78tO/giphy.gif

    Not at all its just the rubbish the propaganda that’s been run thru the media and press for years just wash rinse and repeat,as Buffet said my secretary pays more in taxes then I do (income vs taxes),well at least he was honest..

    Read More
    • Replies: @Wally
    Wrong again.

    Buffet and yourself curiously failed to menton his vast TAXED earnings from cap. gains, investments, on & on.

    https://www.forbes.com/sites/realspin/2013/10/23/warren-buffetts-actual-tax-rate-is-31-while-his-office-workers-pay-21/#4f00dc3279d4
    "In truth, Buffett’s assertion is completely inaccurate and is based on a fundamentally flawed analysis of basic federal taxation principles. In reality, he pays a much higher relevant “federal tax rate” than any of his office workers."
    and:
    https://money.stackexchange.com/questions/72947/does-warren-buffett-really-have-a-lower-tax-rate-than-his-secretary

    Better luck next time.

    www.codoh.com

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  29. bluedog says:
    @Riverside
    "I can’t believe that Bernie and Elizabeth and the others are going to stand by and let the Democratic Party be captured by the donor class that controls it now."

    A very strange sentence. In one part of the sentence he's talking future tense, pretending that the fake-lefties in the party will not let this happen. Then in the second part of the sentence, he tells you that it has already happened.

    Actually, it happened a long time ago. Back when the Clintons and the Gores moved the Democrats away from its traditional farm-labor-middle class base to instead rake in corporate money by being the party of the 1%. This happened back in the 1980's. The Clinton Presidency in the 1990's showed to any who were watching that it had occured, as Rubin and Wall Street took full control of both the government and the Democratic Party.

    I left the Democrats back then because I could see it had happened.

    Yet, the Democratic supporters constantly pretend that it has not happened. I've said "(D) is for Liar" for 20 years now because what the Democrats say about supporing ordinary people has been a big lie for at least that long. The Democrats pretend to care about ordinary people, yet they have been the party of the 1% ever since the Clintons took them that way 20-30 years ago.

    Thus, you see the confused sentence structure in this interview where Mr. Hudson tries to say that the fake-populists that the Democrats put forward won't let this happen, then in the same sentence he admits that it has already happened.

    And the one thing we know absolutely for sure after 2016, and pretty much knew for years before, which is that the Democratic Party is a corrupt party that colludes and rigs its internal processes to deny any democracy, and that trying to change this corrupt party from within simply will not work. Bernie's campaign proved that to any who had not been paying attention for the years in which its been true.

    Which means, since the Democrats are not going to allow change from within, then only option is to defeat and destroy the Democrats from without.

    Or, as a famous Democratic President once said "Those who make peaceful change impossible make violent revolution inevitable" -- JFK, famously quoted by Dr. King in his Riverside Church speech.

    I don't support violent revolution and blood in the streets. But I do support any movement that aims to defeat and destroy the Democratic Party that now only represents Wall Street and the 1% yet constantly lies to the rest of the nation about that. Destroying the Democrats is the only way forward. The Democrats have to go the way of the Whigs.

    Both parties have to go for one is no different than the other both funded by the same group,as J.P. Morgan said way back when if we want to protect our wealth we need to buy the president, they did and its never changed.

    Read More
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  30. @Anonymous
    The wealthiest owners depend on the Government, otherwise they would be in deep trouble.

    The wealthiest owners depend on the Government, otherwise they would be in deep trouble

    Indeed. The main function of the US government is to protect the owning class and their servants in DC from the hoi polloi.

    Read More
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  31. @Wally
    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class 'single digits, 50% pay zero fed. taxes
    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says "Tax Cuts Aren't Sufficient", while at the same time they say "Tax cuts won't do anything for the economy".

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.
    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.
    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    Top 20% pay 95% of taxes

    They also own nearly 90% of the wealth in the country. And yet they are forever bitching about how they don’t get enough.

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill

    And will lose 5-10 times this much in benefits that they need to survive.

    I think if you tried really hard you might find a more biased source than breitbart and amThink, but it will take some work.

    Read More
    • Replies: @Alden
    What benefits go to the average family?

    Those child benefits go only to minority and poor, not average income families.

    Unless you count sewers sidewalks and streets as family benefits. But they aren’t family benefits. They benefit everybody.

    I’d rather have the cash to pay the mortgage and property taxes or rent, and utilities and keep a roof over our heads than get some dubious benefit

    Exactly what benefits do average income families get? As far as I know, all the family benefits go to poor families including illegal aliens.
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  32. Anonymous • Disclaimer says:
    @Wally
    Sorry, but you ignored:

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    Capital gains are how the wealthy are making the money. They’re not treated as income.

    Real estate never pays a capital gains tax. It’s a zero, decade after decade, century after century.

    Rich people actually don’t earn anything at all, because if you earn a profit, you have to pay a tax on it.

    Poor Americans pay higher tax rates than the richest 1% when all taxes are considered.

    The Washington Examiner raises an excellent question – how much is 95% of not so much versus 20% of everything you got? See here:

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

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  33. Alden says:
    @Wally
    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class 'single digits, 50% pay zero fed. taxes
    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says "Tax Cuts Aren't Sufficient", while at the same time they say "Tax cuts won't do anything for the economy".

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.
    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.
    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    American Thinker is an Israeli government front. It should be renamed Zionist Thinker.

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  34. Alden says:
    @Sane Left Libertarian

    Top 20% pay 95% of taxes

     

    They also own nearly 90% of the wealth in the country. And yet they are forever bitching about how they don't get enough.

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill

     

    And will lose 5-10 times this much in benefits that they need to survive.

    I think if you tried really hard you might find a more biased source than breitbart and amThink, but it will take some work.

    What benefits go to the average family?

    Those child benefits go only to minority and poor, not average income families.

    Unless you count sewers sidewalks and streets as family benefits. But they aren’t family benefits. They benefit everybody.

    I’d rather have the cash to pay the mortgage and property taxes or rent, and utilities and keep a roof over our heads than get some dubious benefit

    Exactly what benefits do average income families get? As far as I know, all the family benefits go to poor families including illegal aliens.

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  35. @Wally
    And Marxist Hudson never mentions:

    Top 20% pay 95% of taxes, middle class 'single digits, 50% pay zero fed. taxes
    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    The left says "Tax Cuts Aren't Sufficient", while at the same time they say "Tax cuts won't do anything for the economy".

    Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
    http://www.breitbart.com/big-government/2017/12/13/bernie-marcus-lefts-reverse-robin-hood-attack-gop-middle-class-tax-cut-bill-bunk/

    The Tax Reform Disinformation Campaign: Americans Falsely Think Their Taxes Will Rise
    It is astonishing how American voters have come to be misinformed about tax reform.
    http://www.breitbart.com/big-government/2017/12/08/the-tax-reform-disinformation-campaign-americans-falsely-think-their-taxes-will-rise/

    Five ways the media tries to convince us tax cuts are bad.
    http://www.americanthinker.com/blog/2017/12/five_ways_the_media_tries_to_convince_us_tax_cuts_are_bad.html

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    I’d like to see a racial breakdown of this. And a worldwide one as well.

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  36. @Wally
    Sorry, but you ignored:

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    http://www.washingtonexaminer.com/omb-top-20-pay-95-of-taxes-middle-class-single-digits/article/2638746

    Top 20% pay 95% of taxes, middle class ‘single digits, 50% pay zero fed. taxes

    A large part of that 50% were born abroad. If they can’t earn enough to meet the tax threshold, they should never have been allowed in.

    We need to bond immigrants against penury. If they can’t afford the bond, we can’t afford them.

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  37. dfordoom says: • Website
    @another fred
    As usual with Professor Hudson, his diagnosis is correct, his prescription useless.

    The result of the mergers and buybacks will indeed be that the corporations will wind up being the backbone of corporate America after the economic emergency is declared. There is no political solution to the problem. This is nature taking its course in an overcrowded world where, especially in the USA, the population has become dependent on the wheels of commerce turning for their daily bread.

    This will not change until the population of the world is reduced. Said reduction is not likely to be a pleasant process.

    This will not change until the population of the world is reduced.

    So how exactly do you see this being achieved?

    Actually white people are doing their bit already. They’re already committing demographic suicide.

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    • Replies: @another fred

    So how exactly do you see this being achieved?
     
    The old fashioned way: war, disease, and starvation.
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  38. @dfordoom

    This will not change until the population of the world is reduced.
     
    So how exactly do you see this being achieved?

    Actually white people are doing their bit already. They're already committing demographic suicide.

    So how exactly do you see this being achieved?

    The old fashioned way: war, disease, and starvation.

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  39. Che Guava says:
    @Anonymous
    The Real News Network doesn't make people stupid. The point is to have content and interviews that don't say much of anything. Readers can then be directed to politics by inculating them with gossip or implying that their vote is something that it isn't. This kind of propaganda is highly effective for most people by understanding first their capacity to be manipulated.

    To this Anon,

    What I was meaning is *not* USA news and commentary, I am already knowing that is on the level of ‘I’ll buy that for a dollar!’, I am meaning police, nationl security, political, legal, medical, and weird (in a bad way) science-fictional dramas.

    For the sake of people of the USA (and the world, in two cases), I pray that the majority of those in the first five in real life are not like their screen depictions. However, for the law and politics, at least, many are looking the same to an outside observer.

    Did enjoy the several re-runs of Desperate Housewives that I have seen, sure can see how it is subtly anti-social propaganda, but was enjoying the style, irony, and twisting of plot.

    … but that is old material.

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  40. @another fred

    All that merging can be undone with the stroke of a governmental pen. Ownership everywhere is at the sufferance of some governmental entity.
     
    What cannot be done at the stroke of a pen is the restoration of the small farms and businesses, with the independent hearts that drove them, which formed the backbone of the USA. Nor can one find, with the stroke of a pen, a change of heart and useful productive employment for the hordes who know nothing but government largess and the underground economy for their sustenance.

    We are overpopulated. The mass of the American people are not going to sit back while you take your guns and try to solve that problem. I predict that you will be crushed if you attempt it. I also predict that Nature will take care of the population problem, and therefore patience will serve you well if you have it in you.

    What cannot be done at the stroke of a pen is the restoration of the small farms and businesses, with the independent hearts that drove them, which formed the backbone of the USA. Nor can one find, with the stroke of a pen, a change of heart and useful productive employment for the hordes who know nothing but government largess and the underground economy for their sustenance.

    Very true. You really can never go home again. Because the home of your memory does not exist anymore. They paved Paradise and put up a perking lot.

    As far as the portion of my comment referencing guns goes, I meant that the vastly superior firepower of governmental forces, at all levels, from the local sheriff, to the US army, are the source of all political power in this country. The Supreme Court edicts, sorry, interpretations, of the U.S. Constitution are just so much noise without the force applied by the people with firepower and the willingness to use it.

    Read More
    • Replies: @another fred
    Sorry for the misunderstanding.

    So, who has the most guns in your neck of the woods?
     
    In my particular neck of the woods the people have vastly more firepower than any nearby government, but that does not mean they intend to do anything with it, other than a few really far out guys. Most understand reality.

    A few seem to think that chaos in the streets will be an opportunity for them to rise up - those are the ones I think will be crushed. As long as we are a nation of 300 million, or any where close to that, the people are going to want the government to keep a handle on things - and it will. There are more than a few people down my way who are prepared to hunker down and sit things out for a while if/when TSHTF.
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  41. Che Guava says:

    Thanks, Jaques.

    I’m agreeing with most of your words.

    Was composing a better reply up to twenty minutes ago, hitting the wrong key.

    Despite the intervening ‘quake news, when I was saying ‘the writer is a moron’, as you and others understood and was clear in the context, it should have been ‘the writer Mr. Hudson was quoting is a moron’.

    Wondering how much of a mess the ‘quake was making in my flat, but sure not strong enough to dropping the refrigator, and no risk of fire, so forgetting it for now.

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  42. @HallParvey

    What cannot be done at the stroke of a pen is the restoration of the small farms and businesses, with the independent hearts that drove them, which formed the backbone of the USA. Nor can one find, with the stroke of a pen, a change of heart and useful productive employment for the hordes who know nothing but government largess and the underground economy for their sustenance.
     
    Very true. You really can never go home again. Because the home of your memory does not exist anymore. They paved Paradise and put up a perking lot.

    As far as the portion of my comment referencing guns goes, I meant that the vastly superior firepower of governmental forces, at all levels, from the local sheriff, to the US army, are the source of all political power in this country. The Supreme Court edicts, sorry, interpretations, of the U.S. Constitution are just so much noise without the force applied by the people with firepower and the willingness to use it.

    Sorry for the misunderstanding.

    So, who has the most guns in your neck of the woods?

    In my particular neck of the woods the people have vastly more firepower than any nearby government, but that does not mean they intend to do anything with it, other than a few really far out guys. Most understand reality.

    A few seem to think that chaos in the streets will be an opportunity for them to rise up – those are the ones I think will be crushed. As long as we are a nation of 300 million, or any where close to that, the people are going to want the government to keep a handle on things – and it will. There are more than a few people down my way who are prepared to hunker down and sit things out for a while if/when TSHTF.

    Read More
    • Replies: @peterAUS

    Most understand reality.

    A few seem to think that chaos in the streets will be an opportunity for them to rise up – those are the ones I think will be crushed.
     
    I very often, almost always actually, get into a heated exchange when try to point to a couple of things related to that topic.

    I've come to conclusion that people with such fantasies (using firearms in personal possession to challenge the power of US state apparatus) simply lack brain power.

    It's not about numbers, it's about organization and hardware.
    One armed citizen can easily take on a soldier.
    Ten armed citizens can take on a squad. (with a SMAW or similar)
    160 armed citizens will have a hard time taking on a company.(with mortars)
    800 armed citizens will lose, most of the time, against a battalion.(with machineguns on tripods, heavy mortars and AT, guided, missiles).
    3000 armed citizens will lose almost all the time, against a brigade.(with cannon and howitzer).
    15000 armed citizens will lose all the time against a corps.(with MRLS etc).
    And all that even excluding armor and air power, helicopter gunships in particular.

    It's almost surreal.

    Now, of course, everything changes with internal dissent in armed forces, but, for a superpower it's so easy to make that corps level unit drawing resources from all over the country.

    Good news (tragedy wise) is that most people do understand that.
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  43. peterAUS says:
    @another fred
    Sorry for the misunderstanding.

    So, who has the most guns in your neck of the woods?
     
    In my particular neck of the woods the people have vastly more firepower than any nearby government, but that does not mean they intend to do anything with it, other than a few really far out guys. Most understand reality.

    A few seem to think that chaos in the streets will be an opportunity for them to rise up - those are the ones I think will be crushed. As long as we are a nation of 300 million, or any where close to that, the people are going to want the government to keep a handle on things - and it will. There are more than a few people down my way who are prepared to hunker down and sit things out for a while if/when TSHTF.

    Most understand reality.

    A few seem to think that chaos in the streets will be an opportunity for them to rise up – those are the ones I think will be crushed.

    I very often, almost always actually, get into a heated exchange when try to point to a couple of things related to that topic.

    I’ve come to conclusion that people with such fantasies (using firearms in personal possession to challenge the power of US state apparatus) simply lack brain power.

    It’s not about numbers, it’s about organization and hardware.
    One armed citizen can easily take on a soldier.
    Ten armed citizens can take on a squad. (with a SMAW or similar)
    160 armed citizens will have a hard time taking on a company.(with mortars)
    800 armed citizens will lose, most of the time, against a battalion.(with machineguns on tripods, heavy mortars and AT, guided, missiles).
    3000 armed citizens will lose almost all the time, against a brigade.(with cannon and howitzer).
    15000 armed citizens will lose all the time against a corps.(with MRLS etc).
    And all that even excluding armor and air power, helicopter gunships in particular.

    It’s almost surreal.

    Now, of course, everything changes with internal dissent in armed forces, but, for a superpower it’s so easy to make that corps level unit drawing resources from all over the country.

    Good news (tragedy wise) is that most people do understand that.

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  44. So what? We can’t do anything about it. Offering our opinion may feel good for some, but it’s a meaningless exercise. For better or worse, we will not know the effects of consolidation. When and if we do, by then it will be too late.

    We are economic slaves. Even the rich. Perhaps even worse. Money is all the rich think about. Sure you can get comfortable and imagine yourself elite because you sleep in posh hotels and buy expensive plates of food. And pricey clothes. You still wipe with the same toilet paper. You never know how clean the kitchen is from where you’re ordering. You wife can still hate you. You will die like the rest, too.

    Most common folk are better at sports than the children of luxury. The rich kids are cry babies. Losing graciously is a lesson few learn.

    Money is a value. It’s value is different to different people. In my estimate, we need enough to live, more to save, hopefully some to leave our children. If we fail in these respects, life will go on. It may be tough, but there is always hope.

    The important thing is we work, eat right, exercise and sleep. Study. Invest in yourself. Invest in your relationships. It’s a type of free investment that will create huge dividends.

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    • Replies: @another fred

    We can’t do anything about it.
     
    If you think you can't, you probably can't.

    Others see a storm rising and prepare.

    http://foreignpolicy.com/2016/08/24/zika-is-just-the-first-front-in-the-21st-century-biowar/
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  45. @Boston guy
    So what? We can't do anything about it. Offering our opinion may feel good for some, but it's a meaningless exercise. For better or worse, we will not know the effects of consolidation. When and if we do, by then it will be too late.

    We are economic slaves. Even the rich. Perhaps even worse. Money is all the rich think about. Sure you can get comfortable and imagine yourself elite because you sleep in posh hotels and buy expensive plates of food. And pricey clothes. You still wipe with the same toilet paper. You never know how clean the kitchen is from where you're ordering. You wife can still hate you. You will die like the rest, too.

    Most common folk are better at sports than the children of luxury. The rich kids are cry babies. Losing graciously is a lesson few learn.

    Money is a value. It's value is different to different people. In my estimate, we need enough to live, more to save, hopefully some to leave our children. If we fail in these respects, life will go on. It may be tough, but there is always hope.

    The important thing is we work, eat right, exercise and sleep. Study. Invest in yourself. Invest in your relationships. It's a type of free investment that will create huge dividends.

    We can’t do anything about it.

    If you think you can’t, you probably can’t.

    Others see a storm rising and prepare.

    http://foreignpolicy.com/2016/08/24/zika-is-just-the-first-front-in-the-21st-century-biowar/

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  46. Wally says:
    @bluedog
    Not at all its just the rubbish the propaganda that's been run thru the media and press for years just wash rinse and repeat,as Buffet said my secretary pays more in taxes then I do (income vs taxes),well at least he was honest..

    Wrong again.

    Buffet and yourself curiously failed to menton his vast TAXED earnings from cap. gains, investments, on & on.

    https://www.forbes.com/sites/realspin/2013/10/23/warren-buffetts-actual-tax-rate-is-31-while-his-office-workers-pay-21/#4f00dc3279d4

    “In truth, Buffett’s assertion is completely inaccurate and is based on a fundamentally flawed analysis of basic federal taxation principles. In reality, he pays a much higher relevant “federal tax rate” than any of his office workers.”
    and:

    https://money.stackexchange.com/questions/72947/does-warren-buffett-really-have-a-lower-tax-rate-than-his-secretary

    Better luck next time.

    http://www.codoh.com

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    • Replies: @bluedog
    Lol my how you twist and turn in the wind for I said in relation to her income, thus Buffet should pay a higher tax not as he pointed out but not as high a tax as he should,do you really need a picture?...
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  47. @another fred
    As usual with Professor Hudson, his diagnosis is correct, his prescription useless.

    The result of the mergers and buybacks will indeed be that the corporations will wind up being the backbone of corporate America after the economic emergency is declared. There is no political solution to the problem. This is nature taking its course in an overcrowded world where, especially in the USA, the population has become dependent on the wheels of commerce turning for their daily bread.

    This will not change until the population of the world is reduced. Said reduction is not likely to be a pleasant process.

    no it wont if me or my wife and children and friends are the ones of the “to be reduced”.
    MH is the smarter person out there period

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  48. bluedog says:
    @Wally
    Wrong again.

    Buffet and yourself curiously failed to menton his vast TAXED earnings from cap. gains, investments, on & on.

    https://www.forbes.com/sites/realspin/2013/10/23/warren-buffetts-actual-tax-rate-is-31-while-his-office-workers-pay-21/#4f00dc3279d4
    "In truth, Buffett’s assertion is completely inaccurate and is based on a fundamentally flawed analysis of basic federal taxation principles. In reality, he pays a much higher relevant “federal tax rate” than any of his office workers."
    and:
    https://money.stackexchange.com/questions/72947/does-warren-buffett-really-have-a-lower-tax-rate-than-his-secretary

    Better luck next time.

    www.codoh.com

    Lol my how you twist and turn in the wind for I said in relation to her income, thus Buffet should pay a higher tax not as he pointed out but not as high a tax as he should,do you really need a picture?…

    Read More
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  49. Miro23 says:

    As we all know, corporate investment is scaled way back because corporations aren’t using their earnings to invest. They’re using 92% of their revenue for stock buybacks or for dividend payouts in the last five years.

    This is money making money (for the 1%) and there’s also the question of where the money came from for ME wars (estimated $ 6 Trillion).

    ME war spending was new debt, there was no Middle East War Tax. And the funding wouldn’t have been possible without artificially low interest rates, so the FED and the Treasury work together to finance ME wars, with the debt quietly placed on the US public to the benefit of US Zionists and Israel. It’s no secret that the FED and Treasury are Zionist strongholds, and they’re major support for the 1% (or more accurately the 0,1%).

    My hope is that the Democratic party will indeed split, and that the donor class will go where it belongs – with the rest of the Republican Party. This will leave a rump party to become a new social-democratic party, either a democratic socialist party or something like the British Labour Party became when it threw off the Tony Blair neoliberals. That’s what it looks like will have to happen in America.

    The Zionist left is rather chameleon like, and following their hero Trotsky, they try hard to hide their Jewish radicalism, Zionism and high lifestyle behind political dogma. Tony Blair was a typical collaborator, the same as David Cameron from the Conservatives, each with their long time Jewish sponsors and advisors. Eventually it became too obvious, and Democracy (the bane of the Zionists) removed them from power – and transferring it to where it belonged with J. Corbyn and the Brexit vote.

    Theresa May’s government is breaking down over the same strains and the US is still polarizing, and Trump may have sold out (or more likely been blackmailed), but his base will find another leader since the realities of non-Democratic power become more obvious every year.

    A hypothesis for the financial/political endgame would be a ZIRP financial bubble so huge and wildly speculative that the subsequent crash and chaos would introduce some kind of Emergency Rule, with no prizes for guessing who would run this dictatorship.

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