Kudos to Trump for being willing to talk about the elephant in the living room: the U.S. national debt and the likelihood of defaulting on that debt because of an inability to pay.
In a microcosm Puerto Rico looks very much like the United States might in just a few years, and for the same reasons.
After driving interest rates into the negative in numerous countries around the world and despite being charged with reducing systemic financial risk, central banks around the world are speculating in risk to improve their portfolio returns. The irony of aiding and abetting yet another financial bubble is apparently lost in the equation.
Seizing on the media- and government-manufactured “Panama Papers” brouhaha, governments and globalist organizations announced a wave of new edicts and agreements last week in a plot to kill what remains of financial privacy rights and impose a radical global tax regime on humanity. The Obama administration, the United Nations, the World Bank, the International Monetary Fund, Socialist International, the European Union, and more are fully behind the effort. Of course, as this magazine has documented, those establishment forces, socialist groups, international organizations, tax-funded shills, and bloated governments have been pushing the same dangerous agenda for years without much success. Now they see their chance.
Despite a moribund economy, the Dow Jones Industrial Average has more than doubled in value over the past seven years, recently surpassing 18,000. Is the run-up in stock prices sustainable, or is another bubble forming — one which could burst at any moment?
Globalist voices pushing a global taxation regime and an end to financial privacy worldwide reacted with glee at the “Panama Papers” leak, in which millions of documents relating to private international capital flows were handed to select establishment media outlets by a George Soros-funded organization.
Threats by labor unions have forced California lawmakers to strike a deal this weekend that could increase minimum wage to $15 an hour, generating concerns from business owners that the deal will drive up their costs, force them to cut back on the number of employees, and even put them out of business. Despite fears over the long-term negative effects such a wage increase would have on businesses and the availability of jobs for low-skilled workers, lawmakers have apparently caved to union threats to launch fully funded political campaigns that would take the issue directly to the voters in November.
Not only are so many jobs becoming obsolete, but so are many of the Luddite unions trying to stop the inevitable from happening.