Despite the cheering from the Washington Post, CNN, NY Times, and the rest of the anti-Democracy press that supports their stringent demands upon the nation, my phone has been in meltdown ever since Trump was arrested. These leftist zealots are cheering the end times for EVERY phone call I have had from Asia to Europe, they are all expressing complete shock that the United States is collapsing and they are now all seeing that our forecast that the 2024 Presidential Election would be the most corrupt in history and market the END of democracy in the United States.
These people just do not get it, They crossed the line and now the view of the United States from the outside looking in, they no longer believe that America is the beacon of liberty to the world. It is becoming so obvious that our computer will be right again. I warned it even was showing that the 2024 election might not even take place. That was a small 18% probability, but that NEVER came up EVER in this history of running our political models – NEVER!
This year, 2023, was a MAJOR Directional Change that was showing up in both the LEFT & the RIGHT databases. The year 2025 is when a president would take office in January. This has been the #1 target on our political models for decades. The NEOCONS are in full control of the government. There is no way to stop the collapse of the United States at this point. Nobody will listen and there is nothing I can do. People often ask what if people protested? We will never realize the opportunity to reestablish a new form of government post-2032 without the pain and destruction first.
During the Reign of Valentinian I and his brother, Valens, who came to power in 364AD where Valentinian I died in 375 and Valens ruled into 378, there are serious correlations from both and economic and monetary perspective. They too saw their power weakening so they allowed the Goths to cross the Danube and settle within Roman territory provided they would also then serve in the Roman military. This is what is really behind Biden allowing all these people to flood in through the border. What they do not realize, is that history repeats as Biden grants citizenship in return for military service. The Neocons want to build an army to defeat China and Russia simultaneously. Additionally, they assume that all these illegal aliens will vote Democrat so they can decimate the economy of natural-born citizens.
Besides the barbarians storming across the border as we see today under the Biden Administration, here is a tax collector’s ingot. There was so much debased coinage in circulation, they no longer would accept their own coins in payment for taxes. Instead, the taxes were to be imposed by weight and in-kind. The coins had to be melted down. Below the bar, is a weight you would put on one side of the scale. Here we are on the dawn of digital currencies and the elimination of all paper money and even cryptocurrencies whereby they will only accept digital to end what they see as the black market.
Here is a medieval coin scale serving the same purpose – accept coins only by weight.
Categories: ECM
The student loan forgiveness plan backfired plain and simple. Payments were frozen three years ago in March 2020 under the CARES Act when countless people were out of work and the program made sense. Then Biden campaigned on a promise to eliminate a portion of that debt with no real plan in place. One must wonder if he thought his lofty promise to buy votes was even a possibility. The Education Department announced that debtors must resume payments by October, and interest on those loans will resume in September. This will affect 44 million Americans. The country is dependent on consumer spending for a third of GDP, and the average American’s disposable income is dwindling amid the overall increased cost of living and taxation to fund reckless government spending. The one-issue voters who backed the Dems for this reason may want to reconsider their choice come November.
The National Bureau of Economic Research (NBER) conducted a study that found the promise of forgiving debts actually created a worse financial situation for many Americans. Household leverage rose 3% during this pause as borrowers increased their private debts. “Comparing borrowers whose loans were frozen with borrowers whose loans were not frozen due to differences in whether the government owned the loans, we show that borrowers used the new liquidity to increase borrowing on credit cards, mortgages, and auto loans rather than avoid delinquencies,” the study found. So the study found that these people were more likely to accumulate credit card debt, which is at an all-time high. They also found that these individuals were more likely to direct the funds for mortgages and auto loans, which may be at an all-time high for this particular generation of younger adults.
Countless people truly believed their federal student loan payments would vanish in thin air. It is hard to blame them as the president repeatedly promised he had the power to make this happen. Some who left school in 2020 have never made a student loan payment or factored that cost into their monthly expenses. Over 7.5 million borrowers have already defaulted on their student loans. There will be a major issue here once these borrowers see their monthly expenses rise by a few hundred dollars.
Categories: Education
Tags: consumer debt, National Bureau of Economic Research, student loan forgiveness, student loans
LINK: https://www.armstrongeconomics.com/world-news/education/student-loan-forgiveness-promise-backfires/