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Fed Policy Loses Benefit
Since 2008, when the Federal Reserve turned to dropping interest rates to combat the effects of 'recession', the Rant has been relentless in its attack on the U.S. central bank.
First the policy was flawed in its premise--that lower interest rates would spur economic growth.
Second, and much more importantly, the opposition was against the speed with which the Fed acted. A change in rate policy, even a measly .25% takes at least a year and a half to work its way through the economy so the value of such a move can be evaluated. The Fed did a move of .75% and for a while was dropping the rate two times a month before running out of bullets when it hit zero. (At that time the thought of a negative rate was never publicly disclosed.)
The position I took then was a rate hike, to slow the velocity of money through the system, would be more beneficial to strengthening the economy and, while not doing anything to stop the stock market slide, would benefit the bottom feeders by bringing down retail prices long enough for the market to find a solid foothold to stop the slide and then rebound from.
At long last, eight years after I took up the position I have not changed, former Fed Governor Robert Heller stated openly his desire for the Fed to raise rates. Heller said on CNBC, "There is a very dangerous scenario building in the U.S. because the rates have been so low for so long."
Heller then listed two sectors he was 'very concerned' about. Pension funds and insurance companies are finding it extremely hard to meet their obligations because the anticipated return on investment is simply not there with the interest rates so very low. Some of the biggest pension plans and insurers in the country used mortgage-backed securities as the basis to pay out claims. When the housing bubble burst, many of these companies dipped into liquid reserves in order to meet claims. They were forced to retrench into a new type of investment area in order to stay alive but are now finding claims are still stripping them of liquidity.
Heller claimed this problem could likely trigger a recession that would dwarf the Great Recession. Interestingly, he failed to mention the government, by losing interest revenue, was also facing a growing, massive gap in Social Security revenues and claims. Even though the government has reclassified SS as a 'benefit', since it has been paid for during the working life of millions of Americans, this problem is going to be a back breaker for government budget managers in the near future.
BNP-Paribas, the French bank that operates Great West Banks in the United States, had spokesman Paul Mortimer-Lee also chime in with criticism of the Fed.
"[The Fed] has been looking in the wrong direction, lulled into a sense of complacency by strong jobs growth and solid consumption. What this view has overlooked is the threat of recession coming from the corporate sector."
I have some problems with that statement but not the conclusion. The jobs growth is based on the fact a job is a job is a job. That is an error that is going to wreck future growth prospects because such a large percentage of job growth has taken place in the non-living wage area. But what is worse is the weighty effect this lower wage scale is going to have in the very near future--a problem that explains the push for a much higher minimum wage.
Payroll tax revenues from lower-paying jobs kills the government's assessment of FICA income. This means the projected gap between expenditures and revenues is going to be much, much greater than government planners had expected because the people on SS will have spent a working life garnering a higher projected payout at retirement.
So the "strong jobs growth" is a product of bureaucratic number crunchers, not in earning terms.
The other point, "solid consumption", is based on debt increases, not here and now earnings. The solid consumption is leveraging future earnings into serfdom--especially in the corporate arena. This is why I can disagree with the conclusion but disagree on how it was arrived at.
In his wrap-up assessment, Mortimer-Lee stated "...declining rates of profitability are often a sign that the economy is very sick, no matter the age of the recovery."
Just check the 'profits' side of the S&P 500 ledger. It is disappearing. The only reason corporations are "meeting Street expectations" is the expectations have been consistently lowered by the time reporting period arrives so that the expectation can be met. Year-over-year is showing a steep decline in profits.
After eight years of hitting the Fed for failed policies, there is some support from insiders. Somehow that doesn't offer the comfort I thought it would. If this were a rodeo, the chute on the wild economic ride is about to be flung open.
"I have sworn on the altar of God eternal hostility to every form of tyranny over the mind of man."--Thomas Jefferson
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In recent days I have been wanting to know when we will see the fulfillment of the word, “In the Month of Red Blood Will Be Shed.”
In that post, I wasn’t sure if it would happen in February or not, but I thought it could be possible because of the red symbolism throughout the nation for Valentine’s Day. Then when Justice Scalia was killed, I thought this could be it. But according to the released reports there was no shedding of blood; even though murder of any kind could be viewed as shedding of blood through the loss of life. I really never felt satisfied with that scenario as the fulfillment. I now have clarity to that word.
On June 15, 2016 at around 9:30 am, I felt the leading of the Father to step away and sit before Him. As I was silent and mediating on Him I was given the following word. I will relay it in the way I received it.
“July is the tipping point. The month of July will be the starting point for this nation and the world falling off the cliff. It all begins in July, the great unraveling.
System breakdowns, societal breakdowns, military breakdowns. The emptying of grace has come to America. ‘God shed thy grace on thee’ will no longer be the stanza of this nation’s song, for it shall be ‘God have mercy on thee!’
The battering rams of your enemies have breached your walls of protection. Your fields of plenty shall rot; for the idols of your land have been enshrined within your hearts, within your minds, and deep within your souls. There is no rooting out of these idols by the hand of man. My wrath and My judgments will purge your land.
The Hallowed has been profaned. The sacred has been slandered and disgraced, disfigured from the reality of its purest form. You, the priests of Babylon, have taken away the pure and polluted My inheritance. I will therefore blot your name out and remember you no more.
The time of My winking is over. I will now stand and stare. For the nations have reached their point, their sin I can no longer bare. My church must soon find its place with Me, to dwell safely and at peace, for soon the storm will arrive. Many will die and many will sigh. But My Church, My People, My Bride will remain alive if they abide in Me!
For soon the shaking will begin and the fire will fall. Do not be afraid, and do not run from the shelter and do not look back…remember Lot’s wife!”
After the Father spoke these words to me, He gave me Isaiah 21. Please read the entire chapter. Here are the first ten verses; there is no need for me to comment on them.Isaiah 21
Verse 1-The burden of the desert of the sea. As whirlwinds in the south pass through; so it cometh from the desert, from a terrible land.
Verse 2-A grievous vision is declared unto me; the treacherous dealer dealeth treacherously, and the spoiler spoileth. Go up, O Elam: besiege, O Media; all the sighing thereof have I made to cease.
Verse 3-Therefore are my loins filled with pain: pangs have taken hold upon me, as the pangs of a woman that travaileth: I was bowed down at the hearing of it; I was dismayed at the seeing of it.
Verse 4-My heart panted, fearfulness affrighted me: the night of my pleasure hath he turned into fear unto me.
Verse 5-Prepare the table, watch in the watchtower, eat, drink: arise, ye princes, and anoint the shield.
Verse 6-For thus hath the Lord said unto me, Go, set a watchman, let him declare what he seeth.
Verse 7-And he saw a chariot with a couple of horsemen, a chariot of asses, and a chariot of camels; and he hearkened diligently with much heed:
Verse 8-And he cried, A lion: My lord, I stand continually upon the watchtower in the daytime, and I am set in my ward whole nights:
Verse 9-And, behold, here cometh a chariot of men, with a couple of horsemen. And he answered and said, Babylon is fallen, is fallen; and all the graven images of her gods he hath broken unto the ground.
Verse 10-O my threshing, and the corn of my floor: that which I have heard of the LORD of hosts, the God of Israel, have I declared unto you.
In conclusion, I asked the Father as I always do, “What do we do with this word?”He said, “You better abide in Me!”
He then spoke to me concerning the half awake, half dressed church, “Stop listening to man. Prepare how I taught (you) to prepare! All of your answers are in the word of God!”
He impressed upon me that if we go back and look at all the stories of how He provided for Israel, through Joseph, Moses, etc… we will find His plan, His protection, and learn how to thrive in Goshen! Read Genesis chapters 42-50 and the entire book of Exodus, it is the ultimate survival plan!
Church, all I can tell you is that we need to get our houses in order. Prepare for the coming chaos. It’s not going to be pretty and our lives will never be the same. May Psalm 91 be the banner over your life!
“July is The Starting Point for Falling Off the Cliff”
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Canadian Troops Have Been Issued "Inappropriate Sexual Behaviors" Cards
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NRA: Prepare for ‘overwhelming’ wave of terror
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A Second American Revolution Is Now Inevitable. Future Clashes With Our Criminal Government Are Only Going To Become More Frequent
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One Million People Rise Up In France Amid Media Blackout
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Obama renews call to ban ‘assault’ weapons as the NRA releases a defiant video to counter any pressure
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U.S. and Russian Jets Clash Over Syria American and Russian fighter jets had a tense showdown in the skies above Syria as the Russians dropped bombs on U.S.-backed rebels.
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As we reported in just the past week, not only has NATO accelerated its encirclement of Russia, with British soldiers deployed in Estonia, US soldiers operating in Latvia and Canadians in Poland, while combat units are being increased in the Mediterranean…
HUGE SCANDAL ERUPTS INSIDE NATO: ALLIANCE MEMBER GERMANY SLAMS NATO 'WARMONGERING' AGAINST RUSSIA NATO's biggest and most important European member is suddenly and quite vocally against NATO
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SYRIA: In a Surprise Attack, Russia Bombs US Assets on the Ground Not Once but Twice
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Urgent Warning From Top CEO: “We’re Getting Very Close To Armageddon Here”
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Feds VS States Showdown Over Gun Control The U.S. Supreme Court may weigh in this week on gun control, an issue smoldering again following the June 12 Orlando massacre, with the justices due to decide whether to hear a challenge by gun rights advocates to assault weapon bans in two states. The Connecticut and New York laws prohibit semiautomatic weapons like the
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http://drudgereport.com/
SECRET SERVICE OFFICER SET FOR TV INTERVIEWS; BROADCAST NETWORKS BLACKLIST
MON JUNE 20 2016 19:47:25 ET
**Exclusive**
Team Hillary is working overtime to block former Secret Service officer Gary Byrne from appearing on ANY broadcast network, the DRUDGE REPORT has learned.
Byrne is set to reveal what he observed inside the White House while protecting the First Family in the 1990s.
'What I saw sickened me,' Byrne explains. 'I want you to hear my story.'
Byrne paints a picture of Hillary as a deranged madwoman running interference on Bill's sexploits.
The book 'CRISIS OF CHARACTER' is finally set for release next Monday. It has already became the top seller at AMAZON for the month of June.
And now Clinton's circle is preparing to hit back hard!
POLITICO plans an early morning attack on Byrne's credibility, sources claim, despite his having served in federal law enforcement for nearly thirty years.
Meanwhile, Hillary's campaign has won assurances that he will not be invited to spread 'lies' on any of the nation's broadcast networks.
'It's trash for cash,' a campaign official warned one producer.
FOXNEWS 'HANNITY' will have the first exclusive for cable news, DRUDGE has learned.
Developing...
http://drudgereport.com/
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