Tuesday, April 30, 2019

Margin of Safety!

Central Concept of Investment for the purchase of Common Stocks.
"The danger to investors lies in concentrating their purchases in the upper levels of the market..."

Stocks compared to bonds:
Earnings Yield Coverage Ratio - [EYC Ratio]

EYC Ratio = 1/PE10 x 100 x 1.1 / Bond Rate
1.75 plus: Safe for large lump sums & DCA
1.30 plus: Safe for DCA

1.29 or less: Mid-Point - Hold stocks and purchase bonds.

1.00 or less: Sell stocks - Purchase Bonds

Current EYC Ratio: 0.95 (rounded)
As of  05-01-19
Updated Monthly

PE10 as report by Multpl.com
DCA is Dollar Cost Averaging.
Lump Sum any amount greater than yearly salary.

PE10  ..........31.02
Bond Rate....3.74%

Over a ten-year period the typical excess of stock earnings power over bond interest may aggregate 4/3 of the price paid. This figure is sufficient to provide a very real margin of safety--which, under favorable conditions, will prevent or minimize a loss......If the purchases are made at the average level of the market over a span of years, the prices paid should carry with them assurance of an adequate margin of safety.  The danger to investors lies in concentrating their purchases in the upper levels of the market.....

Common Sense Investing:
The Papers of Benjamin Graham
Benjamin Graham
%
Stock & Bonds
Allocation Formula
05-01-19
Updated Monthly

% Allocation = 100 – [100 x (Current PE10 – Avg. PE10 / 4)  /  (Avg.PE10 x 2 – Avg. PE10 / 2)]


% Stock Allocation   0% (rounded)
% Bond Allocation  100% (rounded) 

Logic behind this approach:
--As the stock market becomes more expensive, a conservative investor's stock allocation should go down. The rationale recognizes the reduced expected future returns for stocks, and the increasing risk. 
--The formula acknowledges the increased likelihood of the market falling from current levels based on historical valuation levels and regression to the mean, rather than from volatility. Many agree this is the key to value investing.  
Please note there is controversy regarding the divisor (Avg. PE10).  The average since 1881 as reported by Multpl.com is 16.70.  However, Larry Swedroe and others believe that using a revised Shiller P/E mean of 19.6 , the number since 1960 ( a 53-year period), reflects more modern accounting procedures.


DYI adheres to the long view where over time the legacy (prior 1959) values will be absorbed into the average.  Also it can be said with just as much vigor the last 25 years corporate America has been noted for accounting irregularities.  So....If you use the higher or lower number, or average them, you'll be within the guide posts of value.

Please note:  I changed the formula when the Shiller PE10 is trading at it's mean stocks and bonds will be at 50% - 50% representing Ben Graham's Defensive investor starting point; only deviating from that norm as valuations rise or fall.        
  
DYI


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Use this site at your own risk.

PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.

The Formula.

Monday, April 29, 2019

Bubble
News

If "Getting Ahead" Depends on Asset Bubbles, It's Not "Getting Ahead," It's Gambling

The only difference between bigshot financiers and J.Q. Citizen was the scale of the leverage and gamble:  J.Q. Citizen could leverage a few grand into hundreds of thousands, while the financier could leverage a bit of collateral into mega-millions.
The goal wasn't home ownership, the purported "official" goal of subprime mortgages: it was short-term speculative gains via "flipping" the house in a few months.  Just like the bigshot financiers, the subprime mortgage market enabled marginal borrowers to take control of assets far in excess of their actual capital and sell them to a greater fool for a quick profit far in excess of their earnings.
After the mortgage-securitization-fraud-housing bubble popped, a secular trend-- wages for the bottom 95% of wage earners stagnating--accelerated. "Getting ahead" via earning a college diploma, working hard and counting on merit no longer worked; families with privileges and capital got wealthier, and everyone else found the purchasing power of their earnings declined even as stocks and housing soared.
The economy has changed dramatically for the worse:  getting a graduate degree no longer guarantees getting ahead (millions of other workers globally have the same credentials); working hard is equally iffy, and traditional investments in one's family either no longer yields gains (higher education) or they are gambles in the guise of "investments" (housing).
Given that the economy is now totally and completely dependent on inflating asset bubbles, it makes no sense to invest for the long-term: a short-term gambling mentality is required to avoid getting destroyed when the bubble-du-jour pops.

This Is the End of the Cycle

Everyone wants every cycle of expansion to last forever, but alas every cycle ends. The growth cycle that began in 2009 is finally coming to an end. The signs are everywhere, notwithstanding the torrid 3.2% GDP growth for the first quarter of 2019 (which as others have noted, is less than meets the eye.) 
Prices are reaching unaffordable levels across the board: homes and rents in big cities are unaffordable, fine dining is unaffordable, property taxes are unaffordable, construction is unaffordable, autos and trucks are mostly unaffordable, fast food is increasingly unaffordable, college tuition is beyond-unaffordable, healthcare and healthcare insurance are insanely unaffordable-- the list includes the vast majority of the costs of living. (Cheap TVs are getting a bit cheaper. Yea for low inflation!) 
As for the stock market: 
Blow-off top based on the misplaced confidence that strong growth is starting up again is also classic late-cycle action.  
The first doubts triggered the decline from October to December, and the sharp rebound this year once the Federal Reserve signaled "we'll do whatever it takes" is very typical of the late-cycle topping process: price sags as doubts emerge about the aging expansion, then notches a nominal new high to assuage everyone that the long-in-tooth Bull is starting another multi-year expansion.
DYI:  At the end of the month I’ll be updating all of DYI’s value indicators.  Undoubtingly they all will be signaling a massively overvalued U.S. stock market.  Except for gold/silver and precious metals mining stocks that are of reasonable value short term bonds [cash] is the place to be waiting for better values ahead.  Unfortunately The Great Wait continues, however, it does appear it is no longer later as sooner is now the operative word to use.

Patience…
DYI










Friday, April 26, 2019

Economy Crushing
Health Care Costs
There is no getting around the obvious here:
 At the core of the problem is the cost of healthcare and prescription drugs--the number one biggest threats to retirement solvency.
Image result for medical costs GDP chart pictures

Soaring Healthcare Costs Jeopardize Retirement In America

Retirement means something quite different in America today: Increasingly, it is being redefined as “laboring in old age”. In fact, the Baby Boomers that are now reaching retirement age are still playing a key role in the American workforce--but not necessarily by choice. 
Seniors are mostly working longer because they need the money. Hikes in Social Security's retirement age, massive health-care costs, depleting savings and high levels of personal debt have made it harder than it was in the 1960s and 1970s to retire. 
According to a new report from money manager United Income, the participation rate in the labor force of retirement-age workers has topped the 20-percent mark for the first time in 57 years. 
“As of February, the ranks of people age 65 or older who are working or seeking paid work doubled from a low of 10 percent back in early 1985,” the report found. 
And there is no getting around the obvious here: At the core of the problem is the cost of healthcare and prescription drugs--the number one biggest threats to retirement solvency.
DYI:  Once again this article misses the 300 hundred pound gorilla in the room!  The Medical Industrial Complex has been in civil and criminal violation of the Robinson/Patman, Clayton and the granddaddy Sherman Anti-trust Acts.  Due to massive bribes or I should say campaign dollars no one in Congress has held any hearings, none of the current or past Presidents have unleashed their respective Attorney Generals not even individual States Governors along with their Congress or Attorney Generals all are silent.

Main Stream Press to the Rescue?
 
The pharmaceutical industry spends more money on advertising than the military industrial complex!  The main stream press is certainly NOT going bite the hand that feeds them!  In over 20 years of study I’ve only come across one article, [nothing on radio, or TV] where the State of Connecticut caught top CEO’s who were colluding to price fix generic drugs.  Connecticut’s Attorney General is looking for a dollar settlement with no statement of wrong doing.  No one goes to prison and immune from civil lawsuits.  To translate the not so Great State of Connecticut is simply out for a piece of the action every five to seven years as they catch these criminal repeaters.  As a side note; don’t believe for a second the reason drug prices are so high is due to R&D expense this industry as a whole spends more money on advertising than research! 

If these three Acts were enforced and legislation allowing re-importation of ethical drugs medical prices on average would drop by 75%+.   That is not a typo!  Or to be more precise prices would drop depending upon severity of illness from 60% to 90%!  Insurance would only be needed for catastrophic illnesses.  This cost for a family of four would drop to the level for one car full coverage insurance.  For a young single person in good health a catastrophic insurance policy would be less than liability insurance for one car!  And by the way the reason car insurance costs are leaping is the health care payment provision for your plan.  Auto insurance would drop at a minimum of 35%!

Is this Only a Retirement Issue?  Think Again!

With out of control medical costs, pumped up real estate valuations, student loan debt along with car and credit card debt the general economy is now starved for capital.  As I have reported before the U.S. has caught the European disease called austerity as our citizens in their attempt to maintain a middle class lifestyle has resorted to huge indebtedness.  A majority are on a paycheck to paycheck basis with one misstep bankruptcy is just around the corner losing everything including the house. 
 DYI

Thursday, April 25, 2019

European
Austerity
Arrives to American Shores!

Millennials will be crushed under debt: Non-housing debt now reaches $4+ trillion in the United States.

Millennials continue to face the struggles of living in a world where they are deep in debt and the idea of buying a home is becoming more of a farfetched pipe dream.  As recently as 2009 non-housing debt stood at $2.5 trillion.  Today it is over $4 trillion, a 60 percent increase in 10 years.  Of course, it is no surprise that 2009 is the official end of the Great Recession and much of the recovery has come at the expense of going into massive debt 
Millennials continue to face struggles in purchasing homes because they are saddled with $1.46 trillion in student debt. 
Non-housing debt is already creating deep pressures on the balance books of Millennial households.
The chart above continues to highlight a story of where the middle class continues to be squeezed. Why did non-housing debt go up by $1.5 trillion from 2009 to 2019 but remained stagnant from 2004 to 2009?  The reality is, younger households are having to go into large amounts of debt to finance college degrees, buy cars, and spend on daily living.  Buying a home just doesn’t fit into this equation for many.
Now we hear about proposals to wipe student debt out and to make public higher education free.  We also have $22 trillion in U.S. National Debt but who is counting.  We are going to have some tough choices moving forward but creating a system entirely addicted to debt is going to cause some major withdrawal symptoms when the inevitable day of reckoning hits.

DYI:  Don’t believe a word that Congress is going to have taxpayer student loan forgiveness, along with 100% tax supported higher education.  What has been floated in Congress is for automatic garnishment of wages for the payment of student loans.  The percentage withdrawn will be on a graduated scale depending upon the individuals earnings with a maximum of 25%.  Simply put, if this legislation is passed, garnishment will be automatic and on a sliding scale.

Why is the cost of education so high?  When you have a third party payer [student loans] willing and able to shovel ever larger sums the money never stayed with the student but went into the schools.  From the day these loans – that CANNOT be wiped clear though bankruptcy – universities and colleges went on a building boom expansion all competing to soak up as much loans as possible.

Before student loans were freely available students could work part time at a basic entry level job and graduate debt free. 

By doing away with non dischargeable loans the cost of higher education will drop significantly.

If this were to happen the higher education complex will scream to the rooftop claiming all sorts of false calamities falling upon our society.  Of course just like any other industry that has become reliant upon subsidies they will scream just as loud when their free lunch is gone.

Between the out of control FIRE [finance, insurance, and real estate], medical industrial complex, and student loans debts have skyrocketed thus starving the general economy of much needed capital.  

Our citizens are so strapped with debts America has now moved into the European disease of austerity where the majority of income going to debt repayment.

Exponential growth of debt is not sustainable and if governmental policies are not reversed that encourages debt expansion our standard living will continue to drop.
DYI
September 20, 2019
High for Stock Prices?
Image result for real oil prices chart pictures
$66.19 
per barrel as of 4/25/19

Oil Hits 2019 High On Iran Sanctions

Oil surges on U.S. decision on Iran sanctions. Trump surprised the oil market on Monday, announcing that he would let U.S. sanctions waivers expire at the end of the month. The eight countries granted six-month waivers last year had hoped to obtain extensions, but the Trump administration has opted for “maximum pressure” on Iran. However, it may also mean maximum pressure on the oil market if Iran loses a significant portion of its oil exports. Oil surged by roughly 3 percent on Monday.

The Undeniable Signs Of A Shale Slowdown

However, U.S. shale is in a different situation. After spending heavily for years, which successfully ramped up production to record heights, many shale companies are still not performing well financially. As a result, the U.S. shale industry is at somewhat of an inflection point. Kibsgaard said that the sector is “set for lower investments with a likely downward adjustment to the current production growth outlook.”
Overall, though, even as U.S. shale basins continue to attract prodigious levels of investment, the blistering rate of growth seen in the past few years may be at an end.
Halliburton, another oilfield services giant, has yet to report its earnings, but it said in March that it expects North American oil producers to spend 10 percent less this year.
DYI:  After their blistering pace for shale oil/gas a slow down in the rate of growth for the fracker’s is expected.  As the world’s population grows so will the demand for oil and gas pushing up prices only to be interrupted by recessions and depressions making for a non stop roller coaster ride.

So goes the price of oil and gas…So goes world wide stock and corporate bond prices either up or down as hydrocarbons especially high prices above their mean will knock economies down along with security prices.  Here in the States being so car and truck dependent we’re sensitive to changes in prices.  We’ve been in a sweet spot with oil prices lower from five years ago placing more money into all of our citizen’s hands hence pushing the economy forward. However, this effect of lower prices only lasts for around five years.  After that it would be logical to expect stock/bond prices to either stand still or begin their retreat depending upon their respective valuation levels.  Using our five year window if oil prices stay at this level by December the lower oil/gas price cut will run out of gas with economic growth slowing or pushing the economy back into recession.

So here we are today with sky high valuations for stocks, bonds and real estate all alongside an economy that has been growing [slowly at best] since 2009 AND increasing energy prices.  Stocks, as measured by the S&P 500, have not made a new high since September 20, 2018.  It is my opinion September was the high for this cycle of stock prices.  So be aware despite DYI’s oil indicator flashing the all clear sign that five year window is only an estimation stock and corporate bond prices may have already begun their southward direction.
 DYI

Wednesday, April 24, 2019

Delusional Russia?
Master’s
 Playing the Weak Hand! 

The Orchestration of Russiaphobia Is The Prelude To War

The Russian Embassy in Washington has prepared an accurate 121-page report, THE RUSSIAGATE HYSTERIA: A CASE OF SEVERE RUSSOPHOBIA.https://washington.mid.ru/upload/iblock/3c3/3c3d1e3b69a4c228e99bfaeb5491ecd7.pdf 
Everyone should read this report. It documents the fake news, lies, violations of diplomatic standards and international law, and gratuitous aggressive actions taken against Russia during the period beginning May 18, 2016 and continuing through the issuance of the Mueller Report.
Without explicitly saying so, the report shows that neither the US government nor the American media has a nanoparticle of integrity. 
Both are criminal organizations that are willing to risk war with Russia in their pursuit of narrow politicized agendas.
The danger of Russian self-delusion is not over. The embassy’s report expresses the hope that now that the Mueller report has concluded that the much heralded collusion has no basis in fact, relations between Washington and Russia can be normalized and cooperation achieved.
DYI:  Don’t sell the Russian’s short as they are the master’s at playing a weak hand.  My suspicion is Putin and his team is playing a style of diplomatic international boxing called rope – a – dope.  Having their opponent exhaust themselves [U.S. Government] and more importantly buy time as Russia [as reported in my earlier post] shore up their domestic economy and governmental finances to the point of being bullet proof from American sanctions.     
There is no such possibility. The Democrats are screaming “coverup” and demanding the resignation of attorney general Barr and Trump’s impeachment. 
The presstitutes are claiming that the Mueller report vindicates their reporting. 
Trump continues to use US foreign policy to commit criminal acts. He has declared that the president of Venezuela is the person he picked, not the one Venezuelans elected. 
He has given to Israel part of Syria as if Syrian territory is his to give. 
He threatens Iran with war as Israel requires. 
In other words, American arrogance rises to ever higher heights. 
At some point the Russian government and Russian people are going to have to accept the fact that to reach an understanding with Washington Russia must either surrender her sovereignty or become as belligerent as Washington and replace Russia’s useless refutations of Washington’s accusations with accusations of her own. Otherwise, Washington is going to keep pushing until war is the only possible outcome.
DYI:  Russia is moving diligently to become the major gas supplier to Central Europe.  If the U.S. can play the divide and conquer strategy so will Putin by having Central Europe and especially jobs generating Germany hooked on Russian gas the EU will find it far more difficult to go along with U.S. State Department demands.  Plus Russia has become the major supplier of oil and gas to China that has gone a long way to protecting his southern border at least economically.

What I see happening is an ageing empire exhausting itself as one international bullying after another FAILS.  America’s worldwide empire will not die do to war but will simple be ignored.  The U.S. will still be a powerful country; however global domination will be seen as a footnote in history with a span of less than 100 years.    
DYI
Russian Ruble
The New
Hard Currency? 

Russia’s 2019 Gold Rush Continues: Buys 600,000 Ounces of Gold In March

Russia buys 18.7 tonnes of gold bullion in March 2019 
– Russia’s official gold holdings are now 2,150.5 tonnes which as a percent of foreign exchange reserves in gold is 19.1% (see table) 
– Russia liquidated 85% of its US Treasury holdings in just two months in April and May 2018 
– Russia dumped over $90 billion of Treasuries in April and May as holdings collapsed from near $100 billion to just $9 billion 
– Russia sees gold’s role as independent currency and safe haven as is a “100% guarantee from legal and political risks” 
– Russia and China’s gold buying is set to continue and may accelerate
The Russian central bank, President Putin and senior politicians and policy makers have spoken about the importance of gold as a form of financial and monetary insurance. They believe gold provides valuable insurance against monetary and geopolitical risks. Manager of monetary policy at the central bank, Dmitry Tulin, recently said of gold: 
“The price of it swings, but on the other hand it is a “100% guarantee from legal and political risks”. 
Russia and China’s gold buying is set to continue and may even accelerate given the heightened financial and geopolitical risks and due to both increasingly powerful nations confidence in gold as a hedge and safe haven.

DYI:  If these reports are accurate Russia will be in the cat bird seat when the next global recession/depression occurs.  Not only acquiring large gold reserves despite their small economy placing in 5th place among nations for gold holdings have reduced substantial private and governmental debt to levels close to being statistically insignificant.
 
If Russia continues on this path confidence in the Ruble will grow and become known as a hard currency to the point international investor’s interest in their stocks and corporate bonds.  DYI’s model portfolio does not include international stocks and bonds; however, when the world wide downturn does arrive dropping Russia stocks and bonds to a point of excellent value I’ll certainly point that out for the more adventurous investor.
DYI

Thursday, April 18, 2019

Is
America
Going Japanese? 

No Fix for Recession: Without a Financial Crisis, There's No Central Bank Policy Fix

Speculative credit bubbles inevitably deflate, and this is universally viewed as a crisis, even though the bubble was inflated by easy money, fraud, embezzlement and socializing risk and thus was entirely predictable. 
A slow, steady decline is precisely what we can expect in an era of credit exhaustion, which I've covered recently: ( The Coming Global Financial Crisis: Debt Exhaustion). The central bank "solution" to runaway credit expansion that flowed into malinvestment was to lower interest rates to zero and enable tens of trillions in new debt. As a result, global debt has skyrocketed from $84 trillion to $250 trillion. Debt in China has blasted from $7 trillion 2008 to $40 trillion in 2018.
This erosion is so gradual, it doesn't qualify as a crisis, and therefore central banks can't unleash crisis-era fixes. Not only do they lack the political will to launch extreme policies in a moderate decline, it would be unwise to empty the tool bag of extreme fixes at the first hint of trouble; what's left for the crisis to come?
But what if the current speculative credit bubbles in junk bonds, stocks and other assets don't crash into crisis?  
What if they deflate slowly, losing value steadily but with the occasional blip up to signal "the Fed has our back" and all is well?
 DYI:  Instead of a crash we could be in for a long term melting of asset prices similar to the Japanese 22 year bear market.
 Image result for japanese 20 year bear market stocks chart pictures

What will be in store for American equities?  No one knows for sure nor does this blogger.  However, let valuations be your guide and currently this is an awful time to buy as stocks are priced to the moon with future returns subpar at best and very easily negative at this point 12 years out.

Hold onto your hats and your cash better values are ahead it could be a long wait.
DYI
American
Censorship

Mainstream Media Driving the Getaway Car for Alt Media Purge

Facebook purged more than 800 accounts earlier this week, continuing its scorched-earth campaign of eradicating dissent as Americans prepare to go to the polls. The social media platform is nicely settling into its role as official censor, working hand in glove with the imperialist Atlantic Council to silence all popular voices to the left and right of neoliberal orthodoxy. As the boundaries of acceptable political discourse narrow online, 
Big Tech has been drafted to do Big Brother’s dirty work — the methodical dismantling of First Amendment protections using the smokescreen of private enterprise.
 DYI

Tuesday, April 16, 2019

Bubbles,
Scams, and Energy,
America’s Permanent Direction? 
DYI:  Today’s world elite’s – financial planner controller’s owners for all phases of the financial sphere to the likes of investment banks, commercial banks, and institutional investors, handing down macroeconomic policy handled by world wide central banks and their respective Treasury departments.  Today’s CEO’s of major corporations 1st priority is financial strategy relegating the backseat to industrial policy, labor relations or sales.  Today’s CEO no matter his or hers industry number task above all else is everything financial.  Pumping up their stock price by using earnings or borrowings, aggressive mergers and acquisitions, rearranging debts with bond holders, AND moving corporate domiciles with their profits to tax haven countries all of this expended energy and money has all come at the expense of R&D rather than expanding production all leading to downsizing of operations thus a creation of structural long term unemployment.

This primarily began in the 1970’s moving briskly in the 80’s and then in the 90’s at light speed culminating by the year 2000.  Since then despite a roller coaster ride prices have soared for stocks, bonds, and real estate as real wages have eroded along with never ending structural unemployment as corporations have ruthlessly downsized their operations [moving to Mexico, China, and other foreign lands].  During normal business cycles of the past after an economic downturn employment, wages and later consumer prices rose.  Not today as price gains are within the sphere of stocks, bonds, and real estate that has caused a class war between asset holders and the common man to a level greater than the notorious Gilded Age.

Monopolies, trade collusion [medical industrial complex] and the FIRE [Finance, Insurance, Real estate] economy that has now chewed up the common man’s budget as exampled here in the United States.  They are no longer able to compete in economy with a sky high monthly break-even as shown below.

  • Rent or home ownership costs:  40%
  • FICA wage withholding:  15%
  • Debt Service (Credit Cards, Student loans, health care, etc.)  15% plus
  • Taxes – Income and sales taxes:  15%
  • TOTAL:  85%

Is it any wonder why large numbers of Millennials remain living with their parents despite many who are now in their 30’s, postponing marriage out of necessity that has dropped our birth rate below replacement pushing even further future pressure on intergenerational social Security and Medicare social programs.

This has international effects from the massive debt burden countries of Europe all causing debt deflation [austerity] along with rent extraction to the likes of selling off government projects [utilities, roads, railways etc.] to fund their indebtedness creating long term rent extraction that was once paid at cost or subsidized thus lowing costs for the common man.  This debt deflation is shrinking the general economy [along with the U.S.] forcing emigration as portions of their populous tries their luck elsewhere.  Currently today emigration to foreign lands is a trickle for Americans however as the pressure builds the upcoming Z generation will begin the exodus to the likes of Europe.

Politically here in the States and Europe power has shifted from democratically elected governments to the elite owned/controlled mega sized international banks and their financial cousin’s institutions either directly through the EU or here in the States through the use of bribes [campaign monies] AND by controlling our Intelligence Services all for their benefit.  Their strategy is akin to the Kings who owned everything by privatizing public enterprises scale back their versions of Social Security, pension plans, health insurance, and other social programs.

Scams

In the basket of tricks the elites use is outright scams.  These so called mass shootings such as Sandy Hook, Las Vegas, Marjory Stoneman Douglas High School and so many more are all fake.  DHS FEMA drills promoted as real; nobody shot; nobody killed or wounded promoted as real by the CIA controlled main stream media all to promote fear.
 
This is the classic psychological operation designed to create a PROBLEM thus a REACTION from the populous demanding that something be done, providing the SOLUTION that was already in place.  PROBLEM – REACTION – SOLUTION is the hallmark of a psychological operation for the basis of a scam.  Today’s school districts are now being besieged by salespersons all selling security programs.  These include bullet resistant windows, CCTV networks, metal detectors, scanners, and an assorted security services.  There are 94,500 plus public schools and 5,430 universities/colleges/community colleges many with multiple buildings.
 
This is big business who get the THRILL of increased revenues/profits and we the taxpayer get the BILL!  Totally unnecessary, the fear from the Mom’s and Dad’s that something must be done pushes the scam forward.  For those who see through the scam they are belittled and scorned by remarks to the likes of “Why are you against child safety?”

Add on the burden of net energy decline that I wrote about in the prior post.  As American’s unless we as a nation reign in elites/bankers/monopolies and forthrightly with energy over the coming decades will end up as serfs working for the King in a third world hell hole.  Sorry to be so negative but this is the direction we’ve been on since the 1970’s.

Till Next Time…
DYI