The Plutonomy Symposium — Rising Tides Lifting Yachts

I'm nothing compared to EzGreensboro.com's Abner Doon when it comes to finance but if the following documents from CitiGroup are real then here is proof from 2005 that CitiGroup and possibly others knew the financial meltdown and housing crisis that came in 2007 and 2008 was on its way soon:

https://pissedoffwoman.files.wordpress.com/2012/04/citigroup-plutonomy-report-part-1.pdf

https://pissedoffwoman.files.wordpress.com/2012/04/citigroup-plutonomy-report-part-2.pdf

https://pissedoffwoman.files.wordpress.com/2012/04/citigroup-plutonomy-report-part-3.pdf

The report is encouraging investors to invest in plutonomy stocks-- companies that cater to the richest of the rich.

Here's an interesting quote from Page 30 of the first link:

"If like us, you believe that attempts by the UK, U.S., and Australian authorities to cool
the housing market is likely to work, and you believe, like us, that equities are likely to
perform well in coming years, this is a good time to switch out of stocks that sell to the
masses and back to the plutonomy basket."

Also from Page 30:

"This has of course, from a portfolio perspective, been a costly trade to run-with, over the last 10 years. Those “crazy American consumers” seem to be in rude health.  Their imminent demise has been a long time imminent."

And from Page 6 of the second link CityGroup admits there is a Housing Crisis in the making before it happened while explaining to their investors how to get around it:

"The “disaster waiting to happen scenario” we hear about most from our clients, is the low savings rates in countries such as the UK and US. Well, we disagree that this is such a big problem in the near term, the time horizon that matters for most equity investors. As we showed in our note on Plutonomy back in October, using data from a paper written by two (then) Fed economists, the low savings rate in the US (and we believe the same holds true in the other plutonomy countries like the UK, Canada and Australia) is a function of the savings habits of the richest 20%. Figure 5 shows the savings rates split down by income quintile in the US. The richest quintile are primarily to blame for the overall fall in the savings rate in recent years – although there low savings behavior has likely been joined in the past few years by the housing-pumped non-plutonomist US consumer."

They even went so far as to blame our then coming, economic meltdown on the "richest quintile" and credit Fed economists as the source of their information.

What did they fear? It wasn't a housing crisis. Oh no, from Page 7 of the 3rd link:

"What could go wrong? 

    Globalization, productivity, a rising profit share and dis-inflation have helped
plutonomy. Beyond war, inflation, the end of the technology/productivity wave
and/or financial collapse, which have killed previous plutonomies, we think the
most potent and short-term threat would be societies demanding a more
‘equitable’ share of wealth."

That's right, the only thing they feared was the working class rising up against them and 'too big to fail banks'. And the working class uprising never happened. America's working class allowed the righest 1% to keep us devided all those years while they got richer and richer at your expence while they made fun of you with statements like,

"The Plutonomy Symposium — Rising Tides Lifting Yachts"

And folks, please share.

   

What Greensboro's News and Record and the Triad Business Journal aren't going to tell you about the economy

"...10. Federal tax receipts and state tax receipts usually both start to fall as we enter a new recession, and that is precisely what is taking place right now."

As Greensboro's City Council lines up a couple hundred million

in newly borrowed money to maintain power via hand outs

1. Industrial production has declined for nine months in a row.  It's never happened outside of a recession in U.S. history.

Like cigarettes in Greensboro

2. U.S. commercial bankruptcies have risen on a year over year basis for seven months in a row and are up 51 percent since September.

Elizabeth Warren and Hillary Clinton condoned Bank of America's Brian Moynihan Insider Trading and Securities Fraud

http://greensboroperformingarts.blogspot.com/2016/06/elizabeth-warren-and-hillary-clinton.html

3. The delinquency rate on commercial and industrial loans has been rising since January 2015.

Commercial and Industrial (C&I) loan delinquency rates

http://greensboroperformingarts.blogspot.com/2016/06/commercial-and-industrial-c-loan.html

4. Total business sales in the United States have been steadily dropping since the middle of 2014.  No, I did not say 2015.  Total business sales have been in decline for nearly two years now, and we just found out that they dropped again…

And now we are paying more for Water and Sewer

on top of a 300% increase in Greensboro's car tax

which Justin Outling, Sharon Hightower, Yvonne Johnson and Jamal Fox didn't object to, 

betraying our poorest citizens and many of their constituents 

5. U.S. factory orders have been dropping for 18 months in a row.

Freightliner laying off 800 in North Carolina

Volvo and Mack are based in Guilford County

6. The Cass Shipping Index has been falling on a year over year basis for 14 consecutive months.

New Breed and Old Dominion

7. U.S. coal production has dropped to the lowest level in 35 years.

8. Goldman Sachs has its own internal tracker of the U.S. economy, and it has fallen to the lowest level since the last recession.

9. JPMorgan’s “recession indicators” have risen to the highest level that we have seen since the last recession.

Greensboro City Council passed regressive tax increase on Greensboro's poor 

http://greensboroperformingarts.blogspot.com/2016/06/greensboro-city-council-plans.html

11. The Federal Reserve’s Labor Market Conditions Index has been falling for five months in a row.

Ralph Lauren to close 50 stores

...cutting 8% of the full-time workforce, or about 1,000 employees

12. The employment numbers that the government released for last month were the worst that we have seen in six years.

Which are very much manipulated

13. According to Challenger, Gray & Christmas, layoff announcements at major firms are running 24 percent higher this year than they were at this time last year.

14. Online job postings on the business networking site LinkedIn have been declining steadily since February after 73 months in a row of growth.

15. The number of temporary workers in the United States peaked and started falling precipitously before the recession of 2001 even started.  The exact same thing happened just prior to the beginning of the 2008 recession.  ...the number of temporary workers in the United States peaked in December and has fallen dramatically since then

http://theeconomiccollapseblog.com/archives/15-facts-about-the-imploding-u-s-economy-that-the-mainstream-media-doesnt-want-you-to-see
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"The -4.8 print was considerably worse than the -0.8 expectation"; Dow Jones near highs = Rigged Financial markets and links

http://greensboroperformingarts.blogspot.com/2016/06/the-48-print-was-considerably-worse.html

Global Investors Are Fleeing U.S. Stocks at a Record Pace

http://greensboroperformingarts.blogspot.com/2016/06/global-investors-are-fleeing-us-stocks.html

How are the parents of the young also going to pay for their elders at the same time?

http://greensboroperformingarts.blogspot.com/2016/06/how-are-parents-of-young-also-going-to.html

Japan Machinery Orders and China Imports from Hong Kong; Soros shorts Financial Markets and comment

http://greensboroperformingarts.blogspot.com/2016/06/japan-machinery-orders-and-china.html

Bank Stock Relative Performance = Our Banks are the Financial Market and the Federal Reserve is owned by its Member Banks = Rigged Economy

http://greensboroperformingarts.blogspot.com/2016/06/bank-stock-relative-performance-our.html

Tax Receipts = Slowing state and local government spending = Panic among the elected

http://greensboroperformingarts.blogspot.com/2016/06/tax-receips.html

"The Keynesians, [Hillary Clinton, Elizabeth Warren and Mitch McConnell's crowd] Stole The Jobs"

http://greensboroperformingarts.blogspot.com/2016/06/the-keynesians-hillary-clinton.html

Coming soon to Greensboro's Performing Arts Center

http://greensboroperformingarts.blogspot.com/2016/06/coming-soon-to-greensboros-performing.html

"Our money is broken, and we need to fix it"

http://greensboroperformingarts.blogspot.com/2016/06/our-money-is-broken-and-we-need-to-fix.html

Bill Gross; “carry” in financial markets are compressed, resulting in artificially high asset prices and a distortion of future risk relative to potential return that an investor must confront."

http://greensboroperformingarts.blogspot.com/2016/06/bill-gross-carry-in-financial-markets.html

"What John Oliver learned [which Greensboro's City Council and City Staff Didn't] while setting up a 401(k) plan for his employees"

http://greensboroperformingarts.blogspot.com/2016/06/what-john-oliver-learned-which.html

How are the parents of the young also going to pay for their elders at the same time?

If there are more than 3 workers contributing to Social Security for every beneficiary, how will less than 2 workers be able to pay for more as the Baby Boom retires?

How is Zika etc... going to affect the ability of smaller generations

to support all the nice things we've promised ourselves

to be paid for by our children?

Was it justifiable for the baby boom to promise themselves tens of trillions of unfunded benefits, like Social Security, Medicare and Medicaid, for future generations to pay for?

Human beings are… of two persuasions

the first would spend tomorrow what they earn today

the second would spend today what they hope to earn tomorrow

From this…arise all conflicts that lead to economic crises

to panics, depressions, violent and revolutionary transfers of wealth

and perhaps most wars

Freeman Tilden

If workers earn, pay taxes, spend, save and invest while retirees divest, downsize, budget and draw income and healthcare benefits, what’s going to happen when more retirees want what fewer workers may not be able to deliver?

Are Baby Boomers going to get more or less than they think, if the supply of what they want to sell exceeds demand, as they exchange assets for needed goods and services at relatively the same time?

There is no means of avoiding the final collapse of a boom

 brought on by credit expansion

The question is only whether the crisis should come sooner

 as a result of  abandonment of credit expansion

 or later as a final and total catastrophe of the currency system involved

Ludwig von Mises

Most financial industry economists considered warnings of financial bubbles unproven, non-existent or exaggerated until afterward.

If there are at least 15,000 professional American economists, and less than 1% predicted the 2008/9 financial crisis, most financial industry economic prognostications appear to be relatively useless.

If investment returns are dependent on rising home values and liquidity supplied by new and existing investors, what should happen if incoming investment slows and lack of liquidity creates a confidence crisis?

Ponzi finance units must increase outstanding debt

in order to meet financial obligations

A transition occurs over the course of an expansion

as increasingly risky positions are validated by the booming economy

that renders the built in margins of error superfluous

encouraging adoption of riskier positions

Eventually, either financing costs rise

or income comes in below expectations

leading to defaults on payment commitments

Hyman Minsky

The federal government stabilized the economy by borrowing from relatively younger American's and their children who may not reap the prosperity of their parents.

Corruption of the political, capitalist and information systems negatively influenced economic performance and consumer behavior through legislation, budget appropriation, regulation and taxation to benefit a few at the expense of many.

A democracy will continue to exist

 up until the time that voters discover

 that they can vote themselves generous gifts from the public treasury

From that moment on

the majority always votes for the candidates

who promise the most benefits…

with the result that every democracy

will finally collapse due to loose fiscal policy…

…nations always progressed through the following sequence

From bondage to spiritual faith

from spiritual faith to great courage

from courage to liberty, from liberty to abundance

from abundance to complacency

from complacency to apathy

 from apathy to dependence

from dependence back into bondage

Unknown

If Bernard Madoff distributed money from wealthy newer investors to pay earlier investors until there wasn't enough money to continue, does the US government operate under the same structure with mandatory participation for all?

Socioeconomic disharmonies will likely increase.

Hartzman blackballed

Triad business interests and North Carolina state government officials have issued verbal warnings to reporters, commentators and news media personalities whose public remarks on the economy are out of step with federal, state and local government’s upbeat statements, according to government officials and economic commentators with knowledge of the matter.

George Hartzman, who has been outspoken about rising corporate and government debt, the real estate market and crony capitalism in Greensboro, North Carolina received a warning in recent weeks, these people said.  It was at least his second. The first came from the Securities Exchange Commission, and the later one, these people said, from North Carolina's Treasurer's office, which instructed him to avoid making “overly bearish” remarks about the economy, particularly investment fees in the state's retirement plans and commercial real estate.

At least one local non-profit foundation was told by City of Greensboro and State officials not to cast doubt on a planned government program to build a megasite in Randolph County involving the state owned North Carolina Railroad, which is refusing public information requests.

Hartzman has told investors that “a lot of official data aren’t reliable” and the economy still faces “big problems,” according to people who attended the closed-door event.

Words of those remarks crackled across social media.

Hartzman and representatives at his firm didn’t return requests for comment, as his name is virtually banned from appearing within local papers and other news outlets.

While restrictions on economic related media have always been tight, they are becoming tighter, with a growing list of publications receiving pressure to produce calming narratives including Greensboro's News and Record, the Triad Business Journal and the Rhino Times.