‘VETERANS FOR CHILD RESCUE’: EX-NAVY SEAL LAUNCHES OPERATION TO EXPOSE PEDOPHILES

I understand that this is a real estate/ foreclosure website but this topic is so important that our society can not move forward until these issue are addressed. WARNING ADULT CONTENT AND WHAT YOU ARE ABOUT TO SEE CAN NOT BE UNSEEN!

Something You “Need” To See That They Do Not Want You To See

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Update: The crowd-funding site YouCaring shut down Mr. Sawyer’s donation page following his appearance on the Alex Jones Show Friday and within 30 minutes of the publication of this article.
A YouCaring representative told Infowars the page was terminated for violating the site’s “terms of service,” though they would not identify the specific issue.

The page was terminated just as Infowars had donated $10,000 to the fund.

Please click the link below for the full story and any updates.

‘Veterans for Child Rescue’: Ex-Navy Seal Launches Operation to Expose Pedophiles

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Broken America

By Michael Snyder, on March 29th, 2017 www.theeconomiccollapseblog.com

Is this the beginning of the end for the United States of America?  It has been said that a house divided against itself will surely fall, and today we live in a shattered union.  In all my years, I have never seen so much strife, discord, bitterness and resentment in this country.  Everyone can see what is happening, but nobody can seem to stop it.  Politically, you have got tens of millions of people trying to pull America one way, and you have got tens of millions of people trying to pull it the exact opposite way.  As I discussed in a previous article, the term “civil war” is now being thrown around by some pundits even though nobody has started shooting yet.  We are a deeply divided and broken nation, and if we don’t find a way to fix things America will not survive.
Every survey and opinion poll that has been taken recently backs up what I am saying.  For example, a Gallup survey that was conducted after the election in November found that an all-time record high 77 percent of all Americans believe that “the nation is divided on the most important values”…
Seventy-seven percent of Americans, a new high, believe the nation is divided on the most important values, while 21% believe it is united and in agreement. Over the past 20+ years, the public has tended to perceive the nation as being more divided than united, apart from two surveys conducted shortly after the 9/11 terrorist attacks.
So how do you fix this?
Nobody can force half the population to suddenly change their views on the most important issues of the day.
Earlier today, I wrote an article about how America is becoming a “politically-correct madhouse“, and there really is no compromising with the forces of political correctness.  Either you get in line or you are the enemy.
Once upon a time the values enshrined in the U.S. Constitution by our founders united us, but today about half the country has completely rejected those values.
Those that would like to restore our constitutional values find themselves diametrically opposed to the agenda that progressives are trying to shove down our throats, and personally I don’t see much room for compromise between the two sides.
Given enough time, one side would ultimately vanquish the other side, but I don’t know if America has enough time left for that to happen.
There were some that had been hoping that our new president would unite the country, but you can throw that idea right out the window.  According to numbers from Public Policy Polling, nearly half the nation already wants him to be impeached…
On our first poll of his Presidency voters were evenly divided on Trump, with 44% approving of him and 44% also disapproving. Now his approval rating is 43%, while his disapproval has gone all the way up to 53%. If voters could choose they’d rather have both Barack Obama (52/44) or Hillary Clinton (49/45) instead of Trump.
Just three weeks into his administration, voters are already evenly divided on the issue of impeaching Trump with 46% in favor and 46% opposed.
The political divisions in this nation are just going to grow worse and worse.
But just because we vehemently disagree with someone politically does not mean that we should hate that person.
I know that it can be infuriating to see some politician get up and start spouting off ideas that would be extremely damaging to this country.  But if we choose to hate our political “enemies”, we become part of the problem.
It is easy to love someone that agrees with you about most things.  The real challenge is finding a way to love those that believe things that you may find truly repulsive.
That doesn’t mean that you have to agree with what they believe.  I am not saying that at all.  You can disagree very strongly with someone and still love that person.
Unfortunately, the hearts of most people have grown cold in America.  As hatred, anger and frustration continue to grow, it is only a matter of time before we start seeing outbursts of violence.  Rioting, looting and civil unrest are going to become commonplace in communities all over the U.S., and eventually some of our major cities will burn.  In my latest book I warned that the “thin veneer of civilization that we all take for granted will disappear”, and thousands upon thousands of Americans that can see this coming are already fleeing the big cities.
What particularly disturbs me is when I see people that are supposed to be on the same side fighting each other.
If you are around someone long enough, eventually they are going to do or say something to offend you.  None of us is going to agree 100 percent on everything, and it is a horrible shame to allow one disagreement to ruin what should be a great relationship.
If you do not learn to forgive, every relationship that you ever have in your life will ultimately fail, because everyone is going to let you down at some point.
And you may think that you are making the other person pay a price by refusing to forgive, but the truth is that you will be the one that will end up suffering.  Even medical science has found that there are health benefits to forgiving and that unforgiveness can actually help bring on serious illnesses.  The following comes from the official website of Johns Hopkins Medicine…
Whether it’s a simple spat with your spouse or long-held resentment toward a family member or friend, unresolved conflict can go deeper than you may realize—it may be affecting your physical health. The good news: Studies have found that the act of forgiveness can reap huge rewards for your health, lowering the risk of heart attack; improving cholesterol levels and sleep; and reducing pain, blood pressure, and levels of anxiety, depression and stress. And research points to an increase in the forgiveness-health connection as you age.
“There is an enormous physical burden to being hurt and disappointed,” says Karen Swartz, M.D., director of the Mood Disorders Adult Consultation Clinic at The Johns Hopkins Hospital. Chronic anger puts you into a fight-or-flight mode, which results in numerous changes in heart rate, blood pressure and immune response. Those changes, then, increase the risk of depression, heart disease and diabetes, among other conditions. Forgiveness, however, calms stress levels, leading to improved health.
There are people that are reading this article that need to pick up the phone right now and apologize to someone that they have been refusing to forgive.
Yes, without a doubt that would be difficult.  But you might just be surprised how much grace a little humility can unleash.
You may not be able to fix our broken nation, but you certainly can fix the broken relationships in your own life.
And if millions of Americans decided to choose love and forgiveness rather than hatred, anger, bitterness and resentment, it would most definitely have a transformative effect on the entire country.
I would like to close with some very wise words from Dr. Martin Luther King Jr.: “Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.”

Broken America

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SECOND FOUNDATION: EMPIRE CRUMBLING

In Part One

FOUNDATION – FALL OF THE AMERICAN GALACTIC EMPIRE

of this article I analyzed the similarities of Isaac Asimov’s Foundation Trilogy to Strauss & Howe’s Fourth Turning, trying to assess how Donald Trump’s ascension to power fits into the theories put forth by those authors. In Part Two

FOUNDATION AND EMPIRE: IS DONALD TRUMP THE MULE?

of this article I compared and contrasted Donald Trump’s rise to power to the rise of The Mule in Asimov’s masterpiece. Unusually gifted individuals come along once in a lifetime to disrupt the plans of the existing social order. Despite the forlorn hope Donald Trump or some other savior can reverse our course, decades of missteps, dreadful decisions, ineffectual leadership, and unconcealed treachery have paved a path to destruction for the American Empire.

American Empire Crumbling
“Mr. Advocate, the rotten tree-trunk, until the very moment when the storm-blast breaks it in two, has all the appearance of might it ever had. The storm-blast whistles through the branches of the Empire even now. Listen with the ears of psychohistory, and you will hear the creaking.” – Isaac Asimov, Foundation

“Now any dogma, based primarily on faith and emotionalism, is a dangerous weapon to use on others, since it is almost impossible to guarantee that the weapon will never be turned on the user.” – Isaac Asimov, Foundation

The elitist ruling class gathers at Davos and their secretive Bilderberg meetings to plot the course of the world, divvying up the vast wealth plundered through their globalization schemes, and developing the newest propaganda narrative to keep the global masses confused, distracted, and powerless to fight back. Despite their wealth and power, an epic level of hubris is always their undoing.

The normal people have begun to fight back but, like the rotten tree trunk Galactic Empire, the “mighty” American Empire, forged from the debris of two world wars, awaits the storm blast which will expose its true level of rot. The American Empire is crumbling under the weight of military overreach; the burden of unpayable debts; currency debasement; cultural decay; civic degeneration; diversity and deviancy trumping common culture and normality; pervasive corruption at every level of government; and the failure of shortsighted leaders to deal with the real problems.

You can hear the creaking as the winds of this Fourth Turning winter howl through the branches of this dying empire. Trump may have forced the Deep State Second Foundation to reveal itself as they seek to destroy him, but the relentless decline of the American Empire continues unabated. Tinkering around the edges of a healthcare system designed to benefit mega-corporations and the Deep State will do nothing to reverse or even delay the decline.

Slowing the growth of government when the national debt is already $20 trillion and headed to $30 trillion within the next decade won’t cure the rot in our tree trunk. Completely ignoring the $200 trillion of unfunded welfare state liabilities helps accelerate the inevitable collapse of this empire. Cutting taxes while expanding the war making machine known as the military industrial complex does nothing to reverse what is already in motion.

The Rest Of the Story Here At The Link Below:

SECOND FOUNDATION: EMPIRE CRUMBLING

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BIBLICAL PROPHECY: ECONOMIC DEBT BUBBLE 2017

Published on Mar 28, 2017
In today's Live Show, Christopher Greene of AMTV reports on Biblical Prophecy Economic Debt Bubble 2017.
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ECONOMIC COLLAPSE 2017: DEATH BLOW

Published on Mar 27, 2017
In today's Live Show, Christopher Greene of AMTV reports on Economic Collapse 2017.
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How America Will End

March 27th, 2017 by Dave Hodges www.thecommonsenseshow.com

The following is an analysis of what has been learned about the pattern America will follow on the path to its demise and final resting place. But America isn’t just going to end, it will, and already is, morphing into a new entity which will be complete divorced from its original founding principles and culture.

The Foundations of God, Family, Country

The three virtues listed in the subtitle is what America used to aspire to be. Because of our sinful nature, America never achieved great heights with regard to the attainment of our ideals, but at least the ideals were in place.

These three goals dominated our goals. This is no longer true as witchcraft now occupies an equal position to Christianity. Over half of our children grow up in a broken home and our children attend schools who no longer teach or aspire to the ideal of American excellence. America is no longer a nation of rules. It is a nation of power, greed and avarice. Every perversion is embraced and those that still aspire to traditional values (e.g. Christian, pro-Constitution) are labeled as domestic terrorists in such government documents as the 2008 MIAC Report. Up is down and down is up.

Russian defectors warned us this would be coming as the Communist/Muslim Brotherhood influence dominate the national agenda and in particular, the Democratic party that has been selected to complete the takedown of America.

America has become a rudderless ship of amoral and immoral people cast adrift in a sea depravity and Satanic principles.

Control of the Media

Where a 1968 Brady Bunch TV episode was the FIRST ever TV show to display a husband and wife sleeping in the same bed, today’s displays on TV regarding language, sexual behavior and adherence to the rule of law are virtually non-existent. We make fun of classic TV shows such as Leave It to Beaver, yet, this used to be the Happy Days norm.

Instead of entertainment that reflected a consensus of moral values being displayed in our TV shows, literature and movies, these entities are now the trend setters. The smug concept of Hollywood is on full display as they  continue to take America to new depths of depravity and I am speaking about Breeder Babies, trafficking and far left attitudes that are hypercritical of anything representing God, family and country. A nation that follows the values of Hollywood is a lost nation.

The News Media

For a nation to lose its way and descend into traditional one-world globalism that is decidedly Satanic in nature, the flow of information must be controlled. And thanks to Bill Clinton, the FCC broadcast regulations had to be changed and they were in the mid 1990’s when Bill Clinton permitted regulations to be struck down that prevented unlimited media ownership by a select few. It used to be illegal to own a newspaper and a radio station in the same market, or one TV station and one radio station. TODAY, SIX MEN CONTROL 95%+ OF THE MAINSTREAM MEDIA. And again, anything that represents traditional American values is cast in a negative light as the people are bombarded with the relentless brainwashing of messages that promote Godless behavior and the acceptance of the New World Order agenda and America, for the most part, has become “Dumb unto death” as Steve Quayle likes to call it.

Most of America does not even know that their country is being destroyed along with their collective futures. This is not about riding out a bad economic cycle while waiting for the good ‘ole days to return. This is not about American downturn, this is about an American takedown.
In the course of my life, I have witnessed many a dying person rally and almost appear to be on the road to recovery, only to give in to the deadly onslaught brought about by a failed immune system. This is what America just encountered with the election of Donald Trump. For one shining moment, America threw off the propaganda shackles and did just enough to get Donald Trump elected and then they went back to sleep. The role of the Independent Media (IM) cannot be overstated when it came to getting Trump elected. The IM gave the previously ignorant and downtrodden a gathering place as Trump’s the America first message was repeated over and over.

Lapsed Into a Coma

Trump was elected and then America went back to sleep. The politically ignorant just assumed that Donald Trump would ride in on his white horse and save the day. Trump faces a hostile Congress that is owned by the corporations that are sponsoring the American-job-killing free trade agreements and espouse totally open borders no matter what the cost. The only way that the Trump agenda could be implemented was to change Congress (2016), or have the public intimidate Congress with unelection (2016-2018). To accomplish the latter, if just half the people that voted for Trump would send a daily email, or make a daily call to one of their elected representatives, these so-called representatives of the people would be afraid to come out of their Congressional offices. They could be intimidated by the public. If that strategy failed, and it wouldn’t, then voting out all incumbents in 2018 could produce the same result in that we could find a willing Congress to implement fair trade deals and enforce reasonable immigration laws that protect and benefit the citizens of this nation. But most Americans probably don’t even know who the incumbent is and we are slipping back to step one as the country goes back to sleep. America just went through the phase where it rallied from death’s doorstep only to slip into its final coma.

The Globalists Are Taking Out the Eyes and Ears of the People

The globalists rightfully blame the IM for getting Trump elected and delaying their takeover of the country. Now the social media giants of Facebook, Youtube and Twitter are dismantling the IM one broadcaster, one writer, one activist at a time. Trump gave the country a chance to become a nation of activists and instead we are a nation of slacktivists.

With the ongoing take down of the IM (e.g. Alex Jones, Paul Watson, Lisa Haven and myself to name a few), the Rip Van Winkles’ of this country will nobody to awaken them from their slumber for the final battle. Within 6 months, the eyes and ears of the people will likely be all but gone. The people will never know what hit them and they certainly will not have a centralized rallying point from which to organize against this planned and final takeover.

Some have asked me why don’t the globalists just takeover right now all at once. The main answer to that question is that the globalists are not plundering the resources and the labor of the people. When the last bit of blood has been squeezed from the last turnip, the end will come swiftly. When the final resources are gone and the citizen journalists are out of the way, the path to national Armageddon will continue at breakneck speed.

Jade Helm 15 and UWEX 16

During Jade Helm 15, I warned the country that these were drills designed to eliminate any vestige of resistance against the New World Order takedown of the country. This is where the country will come to understand the reasons for the NDAA and the FEMA camps. We will soon enter America’s darkest hour. What is standing in the way? The answer is Donald Trump. However, the Deep State has managed to create such a quagmire that Trump can get nothing done. And America’s political fickleness will rear its ugly head to give the Democrats control of the House in 2018. And when that happens, Donald Trump will be impeached. Today’s Russian allegations are laying the framework for impeachment. November of 2018 will become the D-Day to destruction. The globalists have tipped their hand. They will use the Russian threat to impose virtual martial law. All opposition to the coming war of depopulation will be silenced. As Bill Ayers, Obama’s political benefactor, predicted, millions will disappear.

The Great War of Depopulation

America has one last task to perform before it is laid to rest. It must start the great war of depopulation. Remember, the globalists have repeatedly stated that they want to reduce the population by 90% and by any means possible. Out of the ashes will arise the Phoenix of the New World Order.

What Lies Ahead?

Christianity will be outlawed and every perversion including pedophilia will be openly practiced. The world will embrace the new religion of GAIA. A new servant class, drawn from the small number of “deplorables” will service the new elite who will have morphed into some form of existence which will be the result of transhumanism. Satan will firmly be in control of planet.
 
Could these be the “final days”, I am not sure, but I would not bet against it.
Cognitive dissonance and bystander apathy have their hidden price. Just think how history could have been different if America had seized the opportunity to support Trump, but that door is quickly closing and it is closing for the final time. God gave us one final chance to get it right and we are collectively slapping away the hand of God and embracing Satanism by default. There is no third option. If you can’t get on board with saving America, at least get on board with saving your soul.

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Thousands Of Americans Are Fleeing The Big Cities In Preparation For The Coming American Apocalypse

By Michael Snyder, on March 26th, 2017

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Why are so many people suddenly moving away from major U.S. cities?  Recently, I wrote about the mass exodus that is happening out of the state of California, but the truth is that what is happening there is just part of a national phenomenon.  The populations of some of our largest cities are steadily shrinking, and many experts are completely mystified by the seismic demographic shifts that we are now witnessing.  Of course there are a whole host of reasons why people would want to move away from huge cities such as Chicago, Detroit, Baltimore and Cleveland.  For some families, it simply comes down to wanting a better life for their children.  But as you will see below, there are others that believe that things in this country are about to take an apocalyptic turn, and the big cities will not be a place that you want to be when economic collapse, rioting, looting, civil unrest and crime are all spiraling out of control.
According to data just released by the U.S. Census Bureau, Chicago took the prize for the biggest population loss from 2015 to 2016, and it was followed by Detroit and Baltimore…
The counties containing Chicago, Detroit and the independent city of Baltimore were the biggest population losers in the United States from 2015 to 2016, according to data released today by the Census Bureau.
Cook County, Ill., where Chicago is the county seat, had the largest population loss of any county in the country from 2015 and 2016.
Cook County alone had a “domestic migration” loss of more than 66,000 people.  That is a staggering number of people to lose in a single year.
Cleveland and Milwaukee were also very high on the list, and some are pointing out that all of these cities are in relatively colder climates and are all struggling economically.
So you certainly can’t blame people living in these cities for wanting to find somewhere warmer and more economically prosperous to live.
But others that are moving away from large cities are deeply concerned about where things are ultimately headed in this country.  It doesn’t take a genius to see that anger, frustration and hatred are rising all around us, and many believe that conditions are ripe for civil unrest and civil conflict.  In fact, best-selling author Doug Casey believes that we could soon see a “civil war” that is set off by a “financial collapse”…
Best-selling author Doug Casey wrote “Crisis Investing” at the time when the U.S. political landscape was transitioning from the Carter Administration to the Reagan Administration. Now, Casey sees a coming crisis that is equal or worse than the Civil War.  Casey explains, “In the U.S. right now, there seems to be so much antagonism it’s almost like pre-Civil War.  There is actually hatred in the U.S. at this point.  It used to be the Republicans and Democrats could disagree, but they could have a civil conversation about a difference of opinion.  Now, it’s active hatred between these two groups.  This is not going to end well.”
Casey thinks the coming financial collapse will be the trigger. Casey says, “It’s going to come down eventually.  I am worried about that, but we are in a situation where the country seem like it is just before a civil war.  It will be more serious than just a financial collapse, and it is likely to be set off by a financial collapse.”
Without a doubt, our financial system is certainly primed for a financial collapse, and when things get really, really bad in this country how will people respond?
Many have decided that they want to get away from the major population centers before we find out the answer to that question.
For example, not too long ago the Chicago Tribune ran a story about why so many preppers are moving to the Great Northwest.  One of the individuals profiled was an ex-resident of California named Trevor Treller who moved up to north Idaho prior to the recent election…
Trevor Treller, 44, who carries a small Smith & Wesson pistol on his hip, moved to north Idaho last year from Long Beach, California, and recently paid a little less than $400,000 for a defensible three-bedroom house on five wooded acres.
Treller, a sommelier at a local resort, said Obama was a key factor in his decision. He said the president has inflamed racial tensions in America, presided over a dangerous expansion of the national debt, been “hostile” to Second Amendment rights and failed to curtail the nuclear ambitions of North Korea and Iran.
Treller said any one of those factors could lead to crippling chaos, so he and his wife have laid in food, weapons and ammunition and are installing an iron gate across their long gravel driveway.
Of course it isn’t just ordinary Americans such as Treller that are deeply concerned about what is coming.
Less than a week ago, CNN ran an article entitled “Billionaire bunkers: How the 1% are preparing for the apocalypse“…
Many of the world’s elite, including hedge fund managers, sports stars and tech executives (Bill Gates is rumored to have bunkers at all his properties) have chosen to design their own secret shelters to house their families and staff.
Gary Lynch, general manager of Texas-based Rising S Company, says 2016 sales for their custom high-end underground bunkers grew 700% compared to 2015, while overall sales have grown 300% since the November US presidential election alone.
So why are Bill Gates and his billionaire friends so interested in buying luxury survival bunkers if everything is going to be just fine?

Please click the link below to read the rest of the story.

Thousands Of Americans Are Fleeing The Big Cities In Preparation For The Coming American Apocalypse

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Financial Collapse Will Trigger Civil War – Doug Casey

Mar 22nd, 2017 by Greg Hunter www.usawatchdog.com

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Best-selling author Doug Casey wrote “Crisis Investing” at the time when the U.S. political landscape was transitioning from the Carter Administration to the Reagan Administration. Now, Casey sees a coming crisis that is equal or worse than the Civil War.  Casey explains, “In the U.S. right now, there seems to be so much antagonism it’s almost like pre-Civil War.  There is actually hatred in the U.S. at this point.  It used to be the Republicans and Democrats could disagree, but they could have a civil conversation about a difference of opinion.  Now, it’s active hatred between these two groups.  This is not going to end well.”
Casey thinks the coming financial collapse will be the trigger. Casey says, “It’s going to come down eventually.  I am worried about that, but we are in a situation where the country seem like it is just before a civil war.  It will be more serious than just a financial collapse, and it is likely to be set off by a financial collapse.”
Casey says financial markets are all in bubble territory, but the bond market is in the biggest bubble of them all. Casey contends, “What papered things over?  Why did it get better for the last few years?  These governments have lowered interest rates to not just zero but less than zero in parts of the world.  They have created scores of trillions of new currency units which have poured oil on the financial waters.  That currency still exists and it’s going to come out, and it’s going to evidence itself in the form of retail inflation.  So far, it’s just been inflation in the financial markets.  They’ve created a bond super bubble.  They’ve created a stock market bubble.  They have created a real estate bubble in a number of places in the world.  So, this is going to be very, very ugly.  It’s hold on to your hat time.”
What is this going to look like to the man on the street? Casey says, “The country has been living way above its means.  The U.S. runs about a trillion dollar trade deficit with the rest of the world, but it’s a great deal for us.  The U.S. prints up dollars and we ship them dollars, and they send us Sonys and Mercedes and coffee and all sorts of things imported into this country, but that can’t go on forever.  So, what’s it going to look like?  It will be very high levels of inflation.  In 2007 to 2009, people lost their jobs.  When a society is living above its means, people like waiters and bartenders . . . they’re fired because people are going to have to do those things for themselves.  So, you are going to see lots of unemployment.  There could be a lot of social upsets in this country.”
What about gold and silver? Casey says, “A number of governments around the world, not the U.S. but the Russians and the Chinese, are buying a lot of gold.  Why?  Because it’s the only financial asset that is not simultaneously somebody else’s liability.  It doesn’t matter whether we have runaway inflation or catastrophic deflation, the gold is there.  It’s an actual asset unlike the paper governments’ print up.  There is no point in owning paper today because interest rates are so low.  Interest rates are below the level of actual inflation at this point.  People should buy gold and they should buy silver. . . . They’re going to both go up.  I’ll say this again, gold and silver are the only assets that are not simultaneously someone else’s liability.  So, there is going to be a panic into them at some point, and some point soon I think.”
Join Greg Hunter as he goes One-On-One with financial expert Doug Casey, and the best-selling author of his new novel called “Speculator.”
(There is much more in the video interview.)

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Trump Being Primed For Housing Implosion and Complete Economic Ruin

Published on Mar 18, 2017
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STEVE EISMAN: SMART, LUCKY, ABRASIVE & NOW ONE OF THEM

By james Quinn www.theburningplatform.com

I loved Michael Lewis’ book – The Big Short – about the 2008 Wall Street created global financial catastrophe, that is still impacting the little guys on Main Street eight years after it was supposedly resolved by Paulson, Bernanke and Obama. I even wrote an article about it called The Big Short: How Wall Street Destroyed Main Street. I also loved one of the main characters in the book – Frontpoint Partners hedge fund manager Steve Eisman – a foul mouthed, highly skeptical, open minded guy who figured out the fraudulent subprime mortgage scheme and shorted the crap out of the derivatives backing the fraud, making hundreds of millions in the process.
I had the opportunity to attend a 90 minute talk by Steve Eisman last night where he discussed the financial crisis, the response by the Fed and government, and the future for the financial industry. My perception of him, based on the book and movie, was he was a cantankerous asshole who didn’t care what anyone thought about him. My perception matched what I experienced. He was dropping f-bombs, insulting the institution hosting his talk, making fun of business school students (he graduated with a liberal arts degree) and dismissing any question he found to be stupid.

He was very funny. You could tell immediately he was smart and very opinionated. He was confident in his area of expertise. His diagnosis of what happened leading up to the financial implosion was dead on. He correctly tied the entire debacle to ridiculous levels of leverage taken on by Wall Street banks, warped incentives for financial industry employees and rating agencies, and Federal Reserve regulators asleep at the wheel, convinced Wall Street could regulate itself. I think he was too easy on the people who knowingly committed fraud to buy houses they knew they couldn’t afford. He said they were lured into the fraud by the unscrupulous mortgage industry. It takes two to tango.

He described how the credit standards continued to descend as the Wall Street doomsday machine needed more product to convert into toxic derivative products, rated AAA by the greedy worthless rating agencies, so they could sell the weapons of mass destruction to unsuspecting pension funds, mutual funds, and little old ladies. He openly despised Alan Greenspan as the worst Fed Chairman in history and blames him for the lack of regulation leading up to the crisis.
The slimy mortgage originators offered teaser rates of 3% to migrant workers so they could purchase a $700,000 home with nothing down and no proof of income. After three years the rate would adjust to 9%. The underwriters rated the loans based on the 3%, not the 9%. The home occupier had to pay 4 or 5 basis up front to get the loan. Since they could never afford the 9%, they had to refinance and pay another 4 or 5 basis points. The same loan would get repackaged twice into derivatives, while the shysters made out like bandits.

“In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000.” ― Michael Lewis, The Big Short
This subprime slime was the fuse destined to blow up the system, but it was the Wall Street leverage which created the nuclear bomb attached to the fuse. He described how the Wall Street banks were leveraged 10 to 1 in 2000. By 2007 they were leveraged 33 to 1. And most of the assets on their balance sheet were toxic debt slime. Eisman was a Wall Street guy and understood their mindset. When he would point out how stupid these decisions were, the Wall Street big swinging dicks would respond they made $50 million last year and he didn’t. They were smart because they were rich.

The arrogant pricks who ran Wall Street firms mistook their self pronounced brilliant results for leverage propelled fake profits. Levering up your firm with toxic un-payable debt made you look brilliant in the short term, but created a debt bomb destined to blow up the world. Greed, hubris, ignorance of the products they were creating, complete lack of risk management, and the immoral culture of Wall Street led to the worst financial crisis in world history. Eisman’s diagnosis of the causes was perfect.
In my opinion, his positive response to how Paulson, Bernanke and the Obama administration “solved” the crisis was disingenuous, proof he’s a Wall Street guy at heart, and not the defender of the little guy as described by Steve Carrell, who portrayed him in the movie:
“I think he [Eisman] seems himself as a defender of justice and righteousness, while at the same time being conflicted.”

In the movie he was portrayed as the moral compass. After hearing his praise for the awesome job Paulson did by saving the criminal Wall Street banks with taxpayer money, I think the justice and righteousness stuff is overdone. Earlier in his talk he said banks existed to “fuck you” – his exact words. Then later he says we had to save them or the world would have ended. He spun the same old narrative that if you didn’t save AIG, Goldman, GE, and the rest of the corrupt Wall Street cabal, unemployment would have been 30% instead of the 10% it eventually reached. I guess he believes the BLS bullshit that unemployment is currently 4.7%.
Other smart people, not beholden to Wall Street (he works for Neuberger Berman), argue that we could have had an orderly liquidation of the Wall Street banks that took too much risk and levered themselves 33 to 1. The people on Main Street didn’t lever themselves 33 to 1, but we got to bail them out. Rewarding failure encourages more failure. There were over 8,000 banks in the US and it was only 10 or 20 who almost destroyed the world. They should have paid the price for their criminality and recklessness. Their executives should have gone to jail. Not one did.
I began to realize Eisman is a liberal Democrat when he enthusiastically praised Elizabeth Warren as a champion of the people and how Dodd Frank has completely reined in the Wall Street banks. He positively gushed about his friend Daniel Tarullo, the Fed’s chairman of the Federal Financial Institutions Examination Council. He expounded on how tough he has been on the Wall Street banks and has gotten them under control. Meanwhile, they continue to pay billions in fines for their criminal acts and Michael Lewis’ other bestseller – Flashboys – documents the continued rigging of markets and criminality on Wall Street.His defense of Wall Street as it’s constituted today reminded me of the Upton Sinclair quote: “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” 

He is a creature of Wall Street who depends on their good graces for his continued income. He wouldn’t even name Bill Miller as the idiot mutual fund manger who bought Bear Stearns as it was about to go under, because his compliance manager said he shouldn’t do so. It was at this point I realized he wasn’t some prescient sage who understands the markets better than the average schmuck. He got lucky. It wasn’t even his idea to short the subprime market derivatives. Greg Lippman from Deutsche Bank sold the idea to him in February 2006. He just acted on the advice.
His dismissal of overturning the Glass Steagall Act as a cause, Fannie & Freddie’s role in the crisis, and the fact this was a calculated control fraud deserving of prison sentences for hundreds of Wall Street executives, changed my view of the man in a matter of minutes. I find liberal minded people like himself are sometimes excellent at diagnosing problems, but their solutions either exacerbate the problem or ignore the real problem.

He said nothing about how Bernanke & Geithner’s threats to the FASB, resulting in the suspension of mark to market accounting, marked the exact bottom of the market. From that point onward, the Wall Street banks, along with Fannie and Freddie, could value their assets at whatever they wanted – mark to fantasy. Amazingly, the banks and the insolvent mortgage companies immediately started reporting billions of fake profits. Loan loss reserves were relieved, while Fannie & Freddie made billions in fake payments to the Treasury, artificially decreasing annual deficits.
Eisman, the man of the people, said nothing about how real median household income is lower today than it was at the height of the crisis, while Wall Street bonus pools are at record highs. He said nothing about senior citizens who used to count on 5% money market returns to scrape by now getting .25% because the Fed used ZIRP to save the Wall Street banks. Eisman is an extremely rich Wall Streeter. He wouldn’t know how to find Main Street, even with a GPS. He was surely blindsided by the deplorables, outside his NYC bubble, electing Trump as a reaction to the screwjob they received from Wall Street, the Fed and the Obama administration.

His laid back view of the Wall Street banks and how great their balance sheets are, with leverage of only 11 to 1, completely ignores the fact the Fed bought $3.6 trillion of their toxic debt at one hundred cents on the dollar, and the Obama administration took on $10 trillion of national debt to give the economy the appearance of recovery – while the majority are still experiencing a recession, except for Eisman’s Wall Street cronies. He had no problem with Wall Street hedge funds buying up all the foreclosed homes, driving prices higher to fix Wall Street balance sheets, and renting them back to the poor people he pretends to care about.
No mention from Steve about why the economy requires emergency level interest rates, nine years after the crisis. He seems sanguine about a $20 trillion national debt, where normalization of interest rates would blow up the world again. He thinks the US banking industry is the safest it has ever been in history. Isn’t it funny that he did an interview a few weeks ago revealing he is long the banking industry? He is just talking his book, just like every other Wall Street chameleon.

Even though stock valuations are at highs only seen in 1929, 2000, and 2007, Eisman sees no stock market bubble. He expects stocks to go higher due to Trump’s tax cuts and deregulation plans. Even though home prices are nearing 2005 levels again, he sees no real estate bubble. He sees no subprime auto loan bubble. He sees no student loan bubble – he said it’s the government’s problem, as if the government gets their money from someone other than the people. He doesn’t care about the debt bubble, because he’s an equity guy. This type of vision might explain why his hedge fund venture after Frontpoint – Emrys Partners – went under in two years.
My experience of seeing Steve Eisman in person was a letdown. I expected some sort of visionary superhero and I got an abrasive, myopic, captured Wall Street guy, parroting the Wall Street line that all is well, the future is bright, debt doesn’t matter, and stocks always go higher. I left the venue wondering whether I have the bad case of cognitive dissonance and can’t see how great things are, or whether Steve has the bad case of cognitive dissonance. I guess time will tell.
There are two things I learned.Its better to be lucky than smart. Wall Street will never change.
“What are the odds that people will make smart decisions about money if they don’t need to make smart decisions–if they can get rich making dumb decisions? The incentives on Wall Street were all wrong; they’re still all wrong.” ― Michael Lewis, The Big Short

STEVE EISMAN: SMART, LUCKY, ABRASIVE & NOW ONE OF THEM

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