Thomas Pope 
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Recent Comments

Re: “Trump slips

No, the question is; how much of her term will Clinton serve before the Obama Clinton economic meltdown begins and ushers in the Second Great Depression?

Clinton's economic policies are not much different than Obama's and might generate 2 years growth, similar to Obama's stimulus package. But the problem is the Federal Reserve had to begin Quantitative Easing or money printing in 2010 to keep Obama afloat.

Now the Fed's balances are swollen to 4.5 trillion, an increase of 30% of the money supply.

Presently the stock markets are in a bubble because of printed money - not business earnings and the economy is averaging only 1% growth annually. Once the markets begin their correction there are no tools left to the Fed to reverse a crash without printing more dollars and hyper inflating the currency.

Wall Street investment banks are shifting to precious metals and commodities for security because they know the markets could easily fall 70 to 80% in the next crash. The Dodd Frank Act has turned the US into a Banana Republic and the elites are preparing to escape with huge profits and leave the loses to the American people.

With 50% of Americans unemployed, massive poverty, homelessness, hunger and chaos spreading; how long would it be before a revolt of the people compelled Ms Clinton to resign?

3 likes, 3 dislikes
Posted by Thomas Pope on 08/08/2016 at 1:58 PM

Re: “Make America great

Mr. Stedman, The obvious answer to begin making America great again is to realize that the Obama Stimulus Package failed in 2010 as it ceased to grow the economy or create good jobs with benefits. The Labor Dept. had to create bogus methods of calculating the unemployment rate to deceive the public. None of the government's unemployment indexes are reliable. 2010 is when the Federal Reserve realized the economy was sinking and began it's Quantitative Easing or money printing to drive down bond rates and force investors into the stock market. Since then the Fed's balances have swollen 30% or 4.5 trillion. Now there is a bubble and has to be a correction, which will amount to a massive market crash that will hyper inflate the US dollar and bring on the Second Great Depression. Another government stimulus similar to Obama's that Hillary is proposing will be powerless to recover the US economy.

There is only one other method to restore economic growth and that is through an across the board tax cut. The reason is a government stimulus excites bureaucrats - not enough power there to jump start a recovery. But an across the board tax cut excites people as they spend and invest, creating a huge wall of capital for businesses to access, rocketing the economy to recovery with a 7% first post recession quarter that levels off at around 4%, propelling growth for 5 to 7 years instead of the paltry 2 years of a government stimulus. With national revenues double a government stimulus package it will be much easier to finance the government and repay our depleted trust funds. That is the very beginning of how to make America great again. Of course Hillary could win and slam the country even further into debt and depression but before the US is recovered the private sector will lead the way and the government sector will be the road to poverty.

0 likes, 1 dislike
Posted by Thomas Pope on 07/21/2016 at 4:00 PM

Re: “1957 all over again

But there is one huge difference between 1957 and current school assignment policies. In today's environment, after witnessing 50 years of failed liberal desegregation policies, there is broad support among all races for greater school choice, including vouchers for students to attend private schools. Only the liberals in the Democratic Party, through the use of tyrannical judges are still insisting on the fantasy benefits of an education monopoly provided by the government to force students into public education. Even advanced placement is the equivalent of segregation within the school district as the overwhelming majority of those students are white or Asian.

2 likes, 11 dislikes
Posted by Thomas Pope on 07/21/2016 at 3:40 PM

Re: “Fear vs. facts

It's not the sky that falling it's the S&P 500 and the DOW Jones Industrials. The situation in china isn't helpful but these indexes are in an asset bubble in their own right, even after 3 500 point declines. They've yet to reach their 10 year averages but the risk premiums are definitely gone!

These indexes were driven there by 3 rounds of Quantitative Easing also known as money printing to buy T-bills, drive down yields and force investors into the stock market - to prevent a double dip recession. The Federal Reserve argued it had to implement the policy because the Obama stimulus package was capable of generating growth and jobs for only 2 years. By 2010 the economy was sinking again. In essence, they turned the U.S. into a Banana Republic!

A Banana Republic is a situation in which the profits of corporations are assigned to the owners but the losses are assigned to the government or the people.

The strategy worked for a while but now there is a bubble and has to be a correction. The problem is, all of the tools the Fed has to reverse a crash have been exhausted trying to keep the Obama economy afloat the last 5 years. Interest rates are still very low and the money supply has been expanded around 30%. If the Fed prints any more currency for a second bailout the dollar could become worthless paper. 25% is the benchmark for when currency crises begin in the literature, although the U.S. has delayed the inflation of the currency by not letting the banks have access to those dollars in their member accounts. NTL, when the next crash begins the market will fall a long way before it reaches its bottom and the economy will follow!

In a severe market crash the banks will need access to their member accounts to maintain liquidity. When the excess currency enters the M2 the increase in the velocity of money will set the dollar on an inflationary spiral and the collapse will become the Second Great hyper inflation Depression.

This scenario is the dire economic situation about which the president says people are peddling fiction. The Hoover Institute has proposed that the congress legislate a policy to instruct the Fed to follow that will minimize the deterioration of the dollar but I don't imagine anyone in the White House would take their advice. After all, they predicted that the stimulus package would be too weak to recover the economy and Quantitative Easing would destroy the currency in the long run. The Obama administration would have to admit they made a terrible economic policy mistake and they're not about to do that in the middle of an election!

Democrats argue Obama prevented a depression but in reality he just delayed one 2 years and the Fed has delayed it another 5 years. But eventually, it will come; there is no way out! Obama said he wanted to fundamentally change America, and he has. But not in the way that he envisioned!

Posted by Thomas Pope on 01/20/2016 at 4:19 AM

Re: “Obama's sins, real and imagined

Obama's sin: the failed stimulus package that added 790 billion on to the 2009 Bush budget deficit, was capable of generating only 2 years growth. By 2010 the economy was already sinking again. That's when the Federal Reserve reentered the bond market after the bailout to drive down rates, force investors into the stock market and propel the economy. Uptick, downtick, never really taking off!

It worked for a while but now there's a bubble in the S&P 500 and has to be a correction. But since the Fed's balances has swelled to over 4.5 trillion in printed money to distort the bond market and short term interest rates are already at zero, there are no tools available to them to correct the coming market collapse.

How far will the markets fall? Perhaps 70% or more and there is nothing the Fed can do to stop the crash - except, print more money, which will virtually guarantee to destroy the dollar even more than it already is with a 25% expansion of the MS. More money printing would be a sure way to usher in the Second Great Depression.

Essentially, Obama's sin is taking the country off Reaganomics under the notion that a government stimulus would restore the economy to full employment with high wage jobs with good benefits. Instead, what has occurred is two thirds of the jobs created were low wage, no benefit jobs taken mostly by illegal aliens, a declining labor force participation rate to 62.3%, and doubling to 20 trillion of the U.S. national debt. And in spite of all that economic failure none of the Democratic Party candidates for President understand just how precarious the U.S. economy is at the moment. And that includes President Obama too!

3 likes, 5 dislikes
Posted by Thomas Pope on 11/30/2015 at 7:22 PM

Re: “How do you say thanks in Chinese?

Thank you in Chinese is "Keep up the currency manipulation!"

Posted by Thomas Pope on 11/30/2015 at 7:00 PM

Re: “Tom Cotton and American fascism

Mr. Tomlinson,

Your misunderstanding of the nature of Fascism is typical of so many left wingers!

A Fascist is a Socialist or Social Democrat who has come to realize the inferiority of socialism in creating wealth and jobs and a prosperous society; and allows private enterprise to exist because they can use them to raise the taxes and their support to build an all powerful, controlling central government on behalf of their agenda.

In Fascism government is the senior partner and businesses serve the needs of the state, usually at the point of a gun!

It has nothing to do with support for Israel, Citizens United campaign spending legal decisions or the Koch Brothers!

By the way: do you know how many corrupted media, technology, and Wall Street billionaires donate to the Democrats? It dwarfs Republican billionaire donations! I guess if the DNC tells you to criticize someone, the rank and file fall in line, no matter how many wealthy people support the Democrats!

It's virtually impossible for a person who supports the free market as Tom Cotton does to be a Fascist. Their philosophy does not believe in government taxing or exercising sufficient control over businesses to set up a Fascist system - the free market is the invisible hand that makes the economy self-regulating.

A Proto-Fascist is someone who is evolving towards this oppressive economic system by supporting a never ending list of increases in government spending, control and regulation, and taxation to create a fair and just society, in their view.

However, utopia is never quite achieved because the amount of GNP confiscated by government to achieve this goal soon begins to starve the private sector of investment and job creation capital, just as it is now. The unemployment rate rises, and the debt mounts, the economy collapses, the currency is debased through deficit spending and an expansion of the money supply - until a hyper inflation depression begins.

Fascists appear after hyper inflation, hyper unemployment, homelessness, hunger and chaos have spread fear throughout the land. People begin to say, the nation would be stronger if there were a strong leader. Eventually, to restore order and the economy, an autocratic leader takes over, suspends the constitution and laws and rules by decree.

War, antisemitism and a Holocaust follow after more so called evolving on the issues! Suddenly, people of Jewish dissent become their favorite scapegoats!

The Democratic Party and its liberal supporters are the Socialists and Social Democrats following closest the series of events that would lead to a Fascist take over. It's estimated that 20% of the delegates at the most recent Democratic Party convention were staunch antisemites!

So you can stop accusing Tom Cotton or any Evangelical movement or other conservative of promoting Fascism because it simply isn't true!

0 likes, 1 dislike
Posted by Thomas Pope on 08/02/2015 at 6:59 PM

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