Back in this post I wrote, "...once the middle-upper middle class need to be targeted in order to
transfer wealth to the starving lower classes in order to buy votes, it
will begin with those who have assets that are on the books. If you
have a nice retirement fund with stocks and bonds OR real estate, the
wealth tax is coming for you. They will want a percentage of your
existing wealth each year even if you are no longer working. They will
want a percentage of paper gains before they are even realized and if
after paying the paper gain tax the assets fall in value there will be
no rebate. So the notion of long term investing will be out the window
because government will win if your unrealized gains go up but you will
take the hit by yourself when they come back down."
Today's headlines again prove my world view to be correct as California floats a bill for consideration into law that would tax the global wealth of Californians. The last time I saw something like this go down was the so called unitary tax that Florida stupidly tried to levy against IBM in Boca Raton. The state told IBM that its state taxes would be levied against its global revenues. IBM complained to the state that it was unfair and threatened to leave if it was not repealed but Florida saw IBM making money hand over fist on their personal computers which were being built in the state (partially by me!). This arrogance on the part of Florida caused IBM to immediately plan to move out of the state. The state watched IBM move in that direction for 3 months but did not change its mind. But IBM then began laying off its Florida workforce and the assholes in government got scared. So they offered to repeal it but it was just too damned late. IBM flipped them the bird and moved its manufacturing operations to RTP in North Carolina. In very short order, 13000 highly paid engineers left the state, me included.
California is trying to learn from Florida's mistake. Their response: "the tax would also be imposed on former residents who left within the
past decade, presumably to catch those who fled the state’s income tax
rates, which already are the highest in the country.”. While this has got to be completely illegal, it is important to note that they are running it up the flagpole. They are serious and so they are starting with this outrageous proposal with the idea of negotiating it back a bit. But make no mistake, if you own a business in California that is worth, say $10 million which just barely breaks even after expenses, California is going to slap you with another $40k in tax "just because". And if you don't have it well then I guess you better just sell the business because greedy corrupt government IS going to get its share of YOUR money.
The whole thing is corrupt as Hell but California keeps electing these liberal pukes like there is never going to be a day of reckoning. Wake up folks, the day of reckoning is here. As the fake money dies, government will not slim down. It will just find more and more and more ways to tax you. I say again, GET OUT of California before everyone else does because once the first 5-10% leave the housing prices will collapse because nobody in their right mind is moving there. Wait until Google and Facebook and everyone else start threatening to move their HQ out. That is where the rubber will meet the road.
Monday, August 17, 2020
Look at what bad shape the economy is in.
I take ZERO pleasure in being right about what has been going on with the money system which has led to a bubble economy for the rich and loss of hope for the poor. Unfortunately, the federal reserve clearly only cares about the status quo rich because they keep inflating the currency supply leading to asset price rises.
The unfortunate truth is that a huge portion of the population are sheep. This is not their fault. They were born this way and if their creator had wanted it different then it would be different. But as an engineer I have to speak plainly leaving weasel words and sophistry to politicians and bleeding hearts. And the plain truth of it is that, by definition, half of the population has an IQ less than 100. That's 170 million Americans. And IQ below 90? That's probably 50 million people. And below 80? It has to be at least 15 million people.
These people cannot start their own business. The would not know where to start. If someone wasn't giving them food each week they would starve. Right now they can no longer pay their bills. Because the fake money supply has been robbing them all this time, they have no savings, no buffer. All they have is debt and monthly bills that never stop. They have no retirement savings. All they want to do is get back to work at their service jobs which match their mental capacity so they can live their lives as best as possible.
Right now they think that if they can just go back to work, all will be OK. I am so very sad to report that this is a fantasy. The problems will just keep on coming. Right now they are suffering because their jobs are shut down but when they open up they will find that commodity prices have gone up dramatically and the net result will be that even though they are working again they cannot catch up on bills. Quite the opposite. Like a starship caught in the pull of a black hole, punching the throttles to maximum warp will, at best, maintain their current level of distress. But all the while they will be tiring, wearing down, stressing out. The collapse is inevitable at this point.
Sadly, it gets worse. Right now they still think big government can save them. They try to shame congress for not bailing them out. But the government is going into debt at such a rapid pace that even government will soon enough have a very difficult time coming up with the cash to bail anyone out. This is the end game for the Global Debt Ponzi and it is playing out exactly as I envisioned it would more than a decade ago when I first begin writing this blog.
And so I must say once again that we ain't seen bad yet but it's damned sure coming. And it won't be the fault of covid or GOP or leftist fools. It won't be the greedy farmers or the Russians or the Chinese or the Arab. It will be our own fault, we the people, for having accepted the con game of fake money in the foolish belief that it was real. It will be the fault of the institution of the federal reserve which is nothing more than the operator of a shell game of debt. Everyone who ever worked at the federal reserve is a traitor and deserves a traitor's fate.
If you want to know what's wrong with the world, it's the fake money dying. Period.
The unfortunate truth is that a huge portion of the population are sheep. This is not their fault. They were born this way and if their creator had wanted it different then it would be different. But as an engineer I have to speak plainly leaving weasel words and sophistry to politicians and bleeding hearts. And the plain truth of it is that, by definition, half of the population has an IQ less than 100. That's 170 million Americans. And IQ below 90? That's probably 50 million people. And below 80? It has to be at least 15 million people.
These people cannot start their own business. The would not know where to start. If someone wasn't giving them food each week they would starve. Right now they can no longer pay their bills. Because the fake money supply has been robbing them all this time, they have no savings, no buffer. All they have is debt and monthly bills that never stop. They have no retirement savings. All they want to do is get back to work at their service jobs which match their mental capacity so they can live their lives as best as possible.
Right now they think that if they can just go back to work, all will be OK. I am so very sad to report that this is a fantasy. The problems will just keep on coming. Right now they are suffering because their jobs are shut down but when they open up they will find that commodity prices have gone up dramatically and the net result will be that even though they are working again they cannot catch up on bills. Quite the opposite. Like a starship caught in the pull of a black hole, punching the throttles to maximum warp will, at best, maintain their current level of distress. But all the while they will be tiring, wearing down, stressing out. The collapse is inevitable at this point.
Sadly, it gets worse. Right now they still think big government can save them. They try to shame congress for not bailing them out. But the government is going into debt at such a rapid pace that even government will soon enough have a very difficult time coming up with the cash to bail anyone out. This is the end game for the Global Debt Ponzi and it is playing out exactly as I envisioned it would more than a decade ago when I first begin writing this blog.
And so I must say once again that we ain't seen bad yet but it's damned sure coming. And it won't be the fault of covid or GOP or leftist fools. It won't be the greedy farmers or the Russians or the Chinese or the Arab. It will be our own fault, we the people, for having accepted the con game of fake money in the foolish belief that it was real. It will be the fault of the institution of the federal reserve which is nothing more than the operator of a shell game of debt. Everyone who ever worked at the federal reserve is a traitor and deserves a traitor's fate.
If you want to know what's wrong with the world, it's the fake money dying. Period.
Biden and Harris
So Biden chose Kamala Harris as his running mate. After all, why not get a black woman in the oval office simply because she's black, right? It would be very politically correct and trendy and that's all that matters anymore apparently.
But wait a second, the picture below is Harris. Are you telling me this is a black woman? I have to say, she doesn't look very black to me. Straight hair can be done at the salon, but hands are hands, and Harris has very white looking hands.
Feet are another dead giveaway on race. This article says these feet belong to Harris. These are not a black woman's feet.
Harris might be more black than Pocahontas Warren is American Indian, but not much. I'll say 7-10% black, not more. Harris is basically Hillary with a tan. But nice try, dems.
But wait a second, the picture below is Harris. Are you telling me this is a black woman? I have to say, she doesn't look very black to me. Straight hair can be done at the salon, but hands are hands, and Harris has very white looking hands.
Feet are another dead giveaway on race. This article says these feet belong to Harris. These are not a black woman's feet.
Harris might be more black than Pocahontas Warren is American Indian, but not much. I'll say 7-10% black, not more. Harris is basically Hillary with a tan. But nice try, dems.
Subscribe to:
Posts (Atom)
