With just 10 days to go until Illinois enters its third year without a budget, resulting in the state’s imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic Illinois Comptroller Susana Mendoza issued a warning to Illinois Gov. Rauner and other elected officials on Tuesday, saying in a letter that her office has “very serious concerns” it may no longer be able to guarantee “timely and predictable payments” for some core services.
The question is subtly Malthusian in nature: how to deal with the world’s teeming billions in one fell swoop while maintaining the existing social and political orders in all of the countries? That order needs only to have one facade now: as Draconian an order that can be accomplished without throwing the world into a revolution against every government in existence. The Draconian nature is as follows: CCTV cameras monitoring and cross-referencing every purchase, every bank withdrawal or deposit, every movement, and every social engagement. The Draconian nature is one of continuous monitoring, with a rise in prices and a steadily-declining world economy, as natural resources are quietly siphoned off by the politicos and the oligarchs to stockpile for their use when the plug is pulled.
As much Draconian repression and control under a “soft” police state with continuous monitoring…while those in power lay the groundwork to collapse the system and kill off most of the world’s population…while they remain safe, and in power.
This guy gets it! https://t.co/W7R0tU4DKD
— Alois Irlmaier (@AloisIrlmaier) June 14, 2017
This present civilisation is nearing it’s end & will shortly join all previous defunct ones as amnesiac mankind starts the journey again
— JB (@Jammyhorse) June 14, 2017
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Not even during the worst parts of the last recession did things ever get this bad for the U.S. retail industry. As you will see in this article, more than 300 retailers have already filed for bankruptcy in 2017, and it is being projected that a staggering 8,640 stores will close in America by the end of this calendar year. That would shatter the old record by more than 20 percent. Sadly, our ongoing retail apocalypse appears to only be in the early chapters. One report recently estimated that up to 25 percent of all shopping malls in the country could shut down by 2022 due to the current woes of the retail industry. And if the new financial crisis that is already hitting Europe starts spreading over here, the numbers that I just shared with you could ultimately turn out to be a whole lot worse.
I knew that a lot of retailers were filing for bankruptcy, but I had no idea that the grand total for this year was already in the hundreds. According to CNN, the number of retail bankruptcies is now up 31 percent compared to the same time period last year…
If Jim Rogers is right, the worst stock market crash that any of us has ever seen is right around the corner. For the past 15 years, Rogers has been a frequent guest analyst on CNBC, Fox News and elsewhere, and he is immensely respected for the depth of knowledge and experience that he brings to the table. So the fact that he is warning that we are about to see the worst stock market crash in any of our lifetimes is making a lot of waves in the financial community. And of course Rogers is far from alone. Previously, I have written about several other prominent experts that are warning that a new financial crisis is imminent, and I have also discussed how a number of big investors are quietly positioning themselves to make an enormous amount of money when the markets crash. Could it be possible that all of these incredibly sharp minds could be wrong? Yes, but I wouldn’t bet on it.
Auto industry faces “Unprecedented Buyer’s Strike”: Morgan Stanley
After five months in a row of year-over-year declines in auto sales, and therefore after five months in a row of sales that fell below already lowered expectations, the big guns on Wall Street are now seeing the writing on the wall, and are trying to come to grips with it.
“A stretched auto consumer, falling used [vehicle] prices, and technological obsolescence of current cars are ingredients for an unprecedented buyer’s strike,” wrote Morgan Stanley’s auto analyst Adam Jonas in a note to clients.