Things are turning so negative so rapidly, this is really starting to appear like the fall of Rome. The UK is tripling all fines related to taxes according to the FT. Europe & Australia and imposing a carbon tax and this of course is necessary for the environment as long as it ADDS revenues. Whatever idea of regaining manufacturing jobs is going out the window. Whatever these countries do it is only contributing to the demise of everything.They are telling manufacture to go to friendlier spots in Asia.
Governments cannot see that no matter what they do, they cannot solve the debt crisis by raising taxes to pay the bondholders. This is creating such a deflationary vortex, it is the precise way all empires die by their own hand – never by hyperinflation. The bankers will not tolerate that.
The LIBOR probe that began in London where regulators are not as “in the pocket” of bankers as they are in New York, has now expanded to 7 New York banks. This only demonstrates how the bankers control government in the USA including Obama despite his recent comments about “trickle down” as they use the very same tactics that Hitler did to win. The bankers control both sides of the aisle. They are the ones directing the destruction of Western society by demanding austerity and the destruction of our freedom with draconian tax increases. Taxes on investment in the US will jump from 15% to more than 40% come January and this will create more jibs?
Obama can blame the rich for not paying 90% of all income as it was before the JFK reforms, but what he is not saying is he is taking from the productive “rich” to pay the bankers and then 40% of all interest is exported anyway and is not taxed.
We will look at the solution at the San Diego conference and what needs to be done to survive on a personal level in the face of what appears to be a coming nightmare. Sadly the Maya 2012 target will not put us out of our misery. We will survive the hype. Nevertheless, we will review the Maya discovery of cycles as well which seems to be on target for a sea-change in society as a new cycle begin. The 16th ruler of Copan died at the end of the 10th Bak Tun and the city collapsed. It was born with the cycle and because of this beginning of a new cycle the city was built.The Copan dynasty lasted for about the full cycle of 400 years. Where the Renascence marked the beginning of our cycle, it appears the Sovereign Debt Crisis may mark its end.
The FT has reported that indeed the shift from Public to Private is starting with more long-term corporate debt that has been sold this year than throughout 2011 at the early stage in the game. Companies from Walt Disney to Morgan Stanley have issued $86.3bn of 30-year bonds in the year to date, compared to $84.7bn last year, as they rush to take advantage of low rates and high pension fund demand in the face of higher rise in the sovereign debt field.
So for now, hang on to your socks. This appears to be a very wild ride ahead. It looks like San Diego will be perfect timing for this conference.