The Leviticus 25 Plan

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“He who will not apply new remedies must expect new evils.” – Sir Francis Bacon

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen

The Leviticus 25 Plan 2018 (2000)

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January 2017 quote: “You never change things by fighting the existing reality.  To change something, build a new model that makes the existing model obsolete.”  – R. Buckminster Fuller


 

                                          

U.S. Treasury Office of Financial Research: U.S. Banks sitting on $2 trillion exposure to European Debt

The seeds have been planted.  Are they now taking root for the next global financial hurricane?

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Wall Street Quietly Drops Bombshell: U.S. Banks Have $2 Trillion in European Exposure                                                                                                                                      Wall Street on Parade – By Pam Martens and Russ Martens: January 3, 2017         Excerpts:                                                                                                                               According to a report quietly released by the U.S. Treasury’s Office of Financial Research less than two weeks before Christmas, another financial implosion on Wall Street can’t be ruled out.

The Office of Financial Research (OFR), a unit of the U.S. Treasury, was created under the Dodd-Frank financial reform legislation of 2010. It says its role is to: “shine a light in the dark corners of the financial system to see where risks are going, assess how much of a threat they might pose, and provide policymakers with financial analysis, information, and evaluation of policy tools to mitigate them.” Its 2016 Financial Stability Report, released on December 13, indicates that Wall Street banks have been allowed by their “regulators” to take on unfathomable risks and that dark corners remain in the U.S. financial system that are impenetrable to even this Federal agency that has been tasked with peering into them.

At a time when international business headlines are filled with reports of a massive banking bailout in Italy and the potential for systemic risks from Germany’s struggling giant, Deutsche Bank, the OFR report delivers this chilling statement:

“U.S. global systemically important banks (G-SIBs) have more than $2 trillion in total exposures to Europe. Roughly half of those exposures are off-balance-sheet…U.S. G-SIBs have sold more than $800 billion notional in credit derivatives referencing entities domiciled in the EU.”

When a Wall Street bank buys a credit derivative, it is buying protection against a default on its debts by the referenced entity like a European bank or European corporation. But when a Wall Street bank sells credit derivative protection, it is on the hook for the losses if the referenced entity defaults. Regulators will not release to the public the specifics on which Wall Street banks are selling protection on which European banks but just the idea that regulators would allow this buildup of systemic risk in banks holding trillions of dollars in insured deposits after the cataclysmic results of similar hubris in 2008 shows just how little has been accomplished in terms of meaningful U.S. financial reform.

Adding to the potential for another epic crash on Wall Street taking down the entire U.S. economy is data within the OFR report showing how interconnected the big Wall Street banks have become to the largest U.S. insurers through derivatives. This has been allowed to happen despite the fact that the giant insurer, AIG, required a government backstop of $182 billion following the 2008 crash because it had sold credit default protection via derivatives to the big Wall Street banks.

At a time when international business headlines are filled with reports of a massive banking bailout in Italy and the potential for systemic risks from Germany’s struggling giant, Deutsche Bank, the OFR report delivers this chilling statement:

“U.S. global systemically important banks (G-SIBs) have more than $2 trillion in total exposures to Europe. Roughly half of those exposures are off-balance-sheet…U.S. G-SIBs have sold more than $800 billion notional in credit derivatives referencing entities domiciled in the EU.”

When a Wall Street bank buys a credit derivative, it is buying protection against a default on its debts by the referenced entity like a European bank or European corporation. But when a Wall Street bank sells credit derivative protection, it is on the hook for the losses if the referenced entity defaults. Regulators will not release to the public the specifics on which Wall Street banks are selling protection on which European banks but just the idea that regulators would allow this buildup of systemic risk in banks holding trillions of dollars in insured deposits after the cataclysmic results of similar hubris in 2008 shows just how little has been accomplished in terms of meaningful U.S. financial reform.

Adding to the potential for another epic crash on Wall Street taking down the entire U.S. economy is data within the OFR report showing how interconnected the big Wall Street banks have become to the largest U.S. insurers through derivatives. This has been allowed to happen despite the fact that the giant insurer, AIG, required a government backstop of $182 billion following the 2008 crash because it had sold credit default protection via derivatives to the big Wall Street banks.

The OFR report includes the following data on life insurers:

“At the end of 2015, U.S. life insurers’ derivatives exposure, as reported in statutory filings, totaled $2 trillion in notional value. This $2 trillion does not include derivative contracts held in affiliated reinsurers, non-insurance affiliates, and parent companies that do not have to file statutory statements. Details on these entities’ derivatives positions are not publicly available.”

Just who is backstopping this $2 trillion in risk? The answer is mind-numbing. The counterparties to the life insurers are the same behemoth Wall Street banks who have their own potential nightmare scenario if there are major European bank defaults. The OFR report indicates the following:

“According to statutory data on insurance company legal entities, nine large U.S. and European banks are counterparties to about 60 percent of U.S. life insurers’ $2 trillion in notional derivatives. These data show that despite central clearing, derivatives interconnectedness between the U.S. life insurance industry and banks remains substantial.”

An accompanying chart shows (in order of magnitude) the following Wall Street banks with the greatest interconnectedness via derivatives to U.S. life insurers: Goldman Sachs, Deutsche Bank, Bank of America, Citigroup, Credit Suisse, Morgan Stanley, Barclays, JPMorgan Chase, and Wells Fargo.

It is impossible to overstate the dangers of this daisy chain of interconnectedness. The Wall Street banks that created the greatest financial collapse since the Great Depression in 2008 have now metastasized their failed derivatives model throughout the life insurance industry of the U.S. – raising the very real specter that in the next crash both massive banks and massive life insurers would require a taxpayer bailout.

Five of the largest U.S. banks that show up on the derivatives counterparty list to the U.S. life insurers, also show up on another list. The OFR report notes:

“The Basel Committee methodology measures banks’ complexity in part by looking at data on notional derivatives positions. These data reflect the nominal value of underlying derivatives contracts. They have been volatile since 2012 but remain highly concentrated among the five largest banks. As with OFR findings on insurance (see Section 2.5), OFR analysis suggests higher derivatives exposures for banks are associated with greater systemic risk.”

The five banks referenced above are: JPMorgan Chase, Citigroup, Goldman Sachs, Bank of America and Morgan Stanley.

The OFR report also indicates that regulators still do not have access to adequate data from the biggest banks and insurers to assess the dangers in real time. The report notes:

“Deficiencies in data and data management remain a critical vulnerability. Data needs remain unfilled, particularly in shadow banking markets. Many of the new data are not ready or available for analysis. Despite progress, the probability remains high that data deficiencies will again prevent risk managers and regulators from assessing risks before it is too late.”

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U.S. Global Systemically Important Banks (G-SIBs) exposure to European debt leaves U.S.  financial markets vulnerable, once again, to significant credit market default waves.

U.S. insurer exposure to derivatives and the interconnectedness between insurers and major U.S. Banks presents additional default wave vulnerabilities.

The U.S. needs a dynamic economic plan to insulate U.S. citizens, and Main Street America, in advance of the next major financial market credit crisis:

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2018 (1997)

 

 

Fed’s Labor Market Conditions Index (LCMI) slipping down to the 2007 danger zone.

The U.S. Federal Reserve defines its Labor Market Conditions Index (LMCI) as a “dynamic factor model that extracts primary variation from 19 labor market indicators…. the LMCI tracks changes in the labor market by finding variations from multiple labor indicators. Indicators range from unemployment rates to wages to layoffs to business surveys. The LMCI plays a critical role in helping the Fed with one of its two mandates: ensuring maximum employment.” (Source: Investopedia)

The LCMI’s current trending pattern reflects a deteriorating labor market, which is undoubtedly a projection of liquidity shortages across Main Street America.

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Fed’s Labor Market Conditions Index Plunges Most in 7 Years                         ZeroHedge Jan 9, 2017 – Excerpts

While mainstream media clung to The White House spin of record monthly streak of jobs gains after Friday’s payrolls, The Fed’s own Labor Market Conditions Index (LMCI) paints a very different picture of the health of the American job market. With a 0.3% drop in December, the LMCI is now down 5.8% year-over-year, the biggest plunge since Jan 2010.

We are sure The Fed wishes it never created this index…

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The current LCMI plunge matches the pattern seen going into 2007 as the U.S. was teetering on the brink of severe economic contraction.

America needs a powerful new plan to re-target liquidity infusions, eliminate debt at ground level, and recharge our economic growth engine.

The Leviticus 25 Plan 2018 –  $75,000 per U.S. citizen                                                  The Leviticus 25 Plan 2018 (1991)

 

 

Secret Fed Loans for Banks 2008. 2017: The Leviticus 25 Plan for American Families.

The Federal Reserve, along with the world’s other major Central Banks, employed ‘extraordinary measures’ to stabilize the banking system during the Great Financial Crisis (2007-2010).  They did what they had to do to keep credit markets from freezing up and to prevent global economies from spiraling into financial depression.

The Fed’s liquidity infusions led to a healthy Wall Street’s financial sector recovery from the wicked throes of debt overhang.

And it is now time to grant citizens the same access to liquidity to eliminate debt at ground level and strengthen the financial health of American families.

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2008: Secret Fed Loans – Largest Bailout in U.S. History                                                Nov. 28 (Bloomberg) — Bloomberg Markets magazine’s January issue examines how the Federal Reserve and big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. And how bankers failed to mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. (Source: Bloomberg)

Nov. 28 (Bloomberg) — The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. No one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.  Betty Liu reports on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

Kenneth D. Lewis Former CEO of Bank of America Corp.                                                 On Nov. 26, 2008, then-Bank of America Corp. Chief Executive Officer Kenneth D. Lewis wrote to shareholders that he headed “one of the strongest and most stable major banks in the world.” He didn’t say that his firm owed the central bank $86 billion that day. Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.

A fresh narrative of the financial crisis of 2007 to 2009 emerges from 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. While Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.

The size of the bailout came to light after Bloomberg LP, the parent of Bloomberg News, won a court case against the Fed and a group of the biggest U.S. banks called Clearing House Association LLC to force lending details into the open.

The Fed, headed by Chairman Ben S. Bernanke, argued that revealing borrower details would create a stigma — investors and counterparties would shun firms that used the central bank as lender of last resort — and that needy institutions would be reluctant to borrow in the next crisis. Clearing House Association fought Bloomberg’s lawsuit up to the U.S. Supreme Court, which declined to hear the banks’ appeal in March 2011.

$7.77 Trillion                                                                                                                                   The amount of money the central bank parceled out was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he “wasn’t aware of the magnitude.”  It dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP.  Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.

“TARP at least had some strings attached,” says Brad Miller, a North Carolina Democrat on the House Financial Services Committee, referring to the program’s executive-pay ceiling. “With the Fed programs, there was nothing.”

Bloomberg.com:  http://164.67.163.139/Documents/areas/adm/loeb/12_177.pdf

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2017: Retargeting liquidity flows. It is now time for the Federal Reserve to grant U.S. citizens the same access to liquidity that was provided to global financial markets nine years ago.

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2018 (1978)

 

 

The socialist’s economic plan for America vs. The Leviticus 25 Plan

The socialist plan for America seeks to provide equality and security for the underclass through enhanced (intensified) government control over the daily affairs of citizens.  The end result is greater centralization of power (central-planning) and an ever-growing allocation of resources by government.

This control extends to health care, representing 16% of the U.S. economy.  The socialist plan advocates ‘medicare for all,’ with the accompanying layers upon layers of bureaucracy, red-tape, cost distortions, regulations, legal penalties and restricted access.

The socialist plan for financial equality in America involves wealth confiscation and redistribution to the masses.   It invents endless new tax burdens and penalties for the middle class. It penalizes risk-taking, hard work, entrepreneurship, industriousness and skillful planning, while conversely rewarding low motivation for self-reliance and non-work,

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The Leviticus 25 Plan reduces the scope of government control over the daily affairs of citizens. It promotes decentralization and economic liberty.  It grants power over the allocation of resources to the people.

The Leviticus 25 Plan puts U.S. citizens in control, individually, of their health care needs and choices.  It grants citizens direct access to health care – without layers of red tape and bureaucratic directives.

The Leviticus 25 Plan rewards hard work, entrepreneurship, industriousness … and it does not penalize success.

It does not confiscate wealth and invent redistribution schemes.

It simply grants U.S. citizens the same access to direct liquidity extensions that the Fed provided for major banks (domestic and foreign) and insurers during the great financial crisis.

The Leviticus 25 Plan is America’s plan for the future, restoring economic liberty and re-establishing free market dynamics.

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2018 (1971)

The Leviticus 25 Plan 2018: Income tax recapture provision (updated)

How will The Leviticus 25 Plan recapture provision affect government tax revenues?

The economic scoring assumes that at least 80% of U.S. citizens will participate in the Plan.

The Plan’s recapture provision regarding income tax refunds (where participating families agree to give up their tax refunds for a period of five years) will provide for a massive revenue recapture. The IRS reported issuing 111,069,000 refunds, totaling $317.615 billion for 2016 (through December 30, 2016).

Income tax refund recapture:                                                                                              $317.615 billion X 80% participation = $254.092 billion / year for five years.                       Total: $1.270 trillion.

Note: this represents a conservative projection, since incorporates no growth in income tax refund recapture over the 5-year period (2017-2021).

A proportional amount of this revenue would be transferred back to the Federal Reserve each year to reduce the $18.0 trillion balance sheet expansion of the Fed-based Citizen’s Credit Facility.

Aside from the ‘recapture revenues,’ the debt reduction benefits would lead to the elimination of major sums of mortgage / HELOC interest-expense deductions and with significant health care deductions, which would generate considerable new federal and state tax revenue.

Revitalized economic growth would result in more Americans working, paying taxes and social security and Medicare and Medicaid payroll taxes.

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The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                         The Leviticus 25 Plan 2018 (1967)

Kyle Bass: “Central Bank monetary policies have become impotent..”

Kyle Bass, Hayman Capital Master Fund LP – offers his professional anticipations, “as we enter 2017.”

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 Kyle BassZeroHedge, Jan 5, 2017                                                                                Excerpts:
 “As we enter 2017, we believe enormous macro imbalances are just beginning to unwind. As central bank monetary policies have become impotent, these imbalances will likely continue to unfold in what we believe to be a much more predictable manner. Over the past several years, economic gravity has been pulling one way and central banks have been using aggressive monetary policy to pull the other. Investing in macro, while this phenomenon has existed, has been difficult to say the least. From here- on, we expect to encounter significant changes in global fiscal policies along with a continuation of the upward movement of general price levels for consumers and producers alike….”

“Unlike establishment prognosticators, we hold a nuanced view of the world that contemplates higher global inflation, tepid real economic growth, and severe imbalances in select Asian financial systems and currency markets.”

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According to Bass, Central Bank monetary policies have landed us on the doorstep of “higher global inflation and tepid real economic growth…”

The world needs a powerful, new liquidity dynamic:

The Leviticus 25 Plan

“He who will not apply new remedies must expect new evils.” – Sir Francis Bacon

The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens.  It is a comprehensive plan with long-term economic and social benefits for citizens and government.

The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2017 (1938)

JPM: Central Bank policies have left us with “unprecedented distortions in government bond markets”

“Unprecedented distortions in government bond markets” means that the true value of these credit instruments has never before in history been more disconnected from the reality of true ‘price discovery.’

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JPM: Central Banks Have Created Unprecedented Distortions in Government Bond Markets

Markets  ZeroHedge  1-2-2017  /  Excerpts:

As part of his just released 2017 outlook, JPM’s Michael Cembalest, chairman of markets and investment strategy, notes that while “political upheavals and unorthodox central bank actions persist” he predicts “more of the same in 2017: single digit returns on diversified investment portfolios as the global economic expansion bumps along for another year.”…

Something else, however, caught our eye… – the following statement by the JPM strategist:

“True Believer” central banks have created unprecedented distortions in government bond markets. Bond purchases and negative policy rates by the ECB and Bank of Japan led to negative government bond yields. Whatever their benefits may be, they also resulted in profit weakness and stock price underperformance of European and Japanese banks. The poor performance of European and Japanese financials was a driver of lower relative equity returns in both regions in 2015/2016.

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We are inching toward the ‘credit market chaos’ cliff, unless Central Banks develop a new monetary model.

Central Banks need a strategy to ‘un-distort’ credit markets with free market dynamics and price discovery.  The foundation for such a model must involve massive debt elimination at ground level, and it must restore economic liberty.

There is one, and only one, comprehensive economic acceleration plan that solves these critical needs:

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2017 (1925)

 

 

Republicans need an ObamaCare “replacement strategy”- here it is: The U.S. Health Care Freedom Plan

No replacement strategy for ObamaCare..?

Oh, but there is indeed an alternative, for those who wish to transition to a citizen-centered health care plan.

And for those who do not wish to transition, “If you like your ObamaCare, you can keep your Obamacare.”

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Republicans Consider ObamaCare Repeal Without a Replacement Strategy         ZeroHedge 12-29-16                                                                                                         [Excerpts:]                                                                                                                               Republicans have spent a lot of time in recent weeks vowing to repeal Obamacare.  But, it is quickly becoming apparent that, since precisely zero people expected the 2016 election cycle to end with Republican control of all three branches of government in Washington D.C., no viable alternative has been fully vetted and stands ready to replace the failed legislation.  According to Bloomberg, the lack of a fully negotiated replacement option could result in Republicans repealing the bill on a piecemeal basis with a replacement to be implemented at a later date.

“They haven’t come to a consensus in the House and the Senate about the possible replacement plans,” said Douglas Holtz-Eakin, a conservative economist and former adviser to Senator John McCain’s 2008 presidential campaign. “They don’t know Point B.”

Republicans are debating how long to delay implementing the repeal. Aides involved in the deliberations said some parts of the law may be ended quickly, such as its regulations affecting insurer health plans and businesses. Other pieces may be maintained for up to three or four years, such as insurance subsidies and the Medicaid expansion. Some parts of the law may never be repealed, such as the provision letting people under age 26 remain on a parent’s plan.

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America’s dynamic new health care strategy:

The U.S. Health Care Freedom Plan 2017: America’s clean and affordable alternative to ObamaCare. Ready to launch.

The U.S. Health Care Freedom Plan is the only comprehensive, citizen-centered health care plan in America.  It ‘resets’ the health care industry to present a clean, efficient and responsible system.  Most importantly, this plan restores individual freedom and liberty for all participating Americans.

The Plan:

  1. The U.S. Health Care Freedom Plan is available to each and every U.S. citizen – with no coverage mandates. Each U.S. citizen who wishes to participate will be granted a full and complete exemption from the ACA.
  2. This plan offers freedom of choice and equal justice for all. Those Americans who might wish to stay with the ACA may stay (‘If you like your ObamaCare, you can keep your ObamaCare’).
  3. Each participating U.S. citizen shall receive a credit extension, through a special Federal Reserve Citizens Credit Facility, of $25,000, electronically deposited into a Medical Savings Account (MSA) – for direct allocation toward family health care needs.
  4. Private insurance – Families shall be allowed to enroll in high-deductible ($10,000 – $15,000) major medical plans, to include basic, ‘no frills’ medical plans which best suit their individual needs and desires. These streamlined plans would lower premium costs for employees and employers, encouraging employers to cost-share savings with employees through incentive-based employer MSA contributions.
  5. Policies would not be automatically loaded with expensive government healthcare mandates.
  6. Those with extraordinary medical issues may be included in a high-risk category, with such plans being eligible for a government subsidy (similar to current Medicare Advantage).
  7. Federal / state programs – Individuals enrolled in Medicare / Medicaid / VA / TRICARE / FEHB programs would maintain their covered status, with an annual deductible of $5,000 per year per enrolled family member, for a period of five years for those benefits. The dedicated MSA funds would fully fund the offset for the higher ($5,000) deductible feature for that five-year period. MSA funds could also be used to pay Medicare supplement premiums and other potential co-pay obligations.
  8. Where health care services paid by patients directly with MSA funds, providers would not be bound by federal / state rules pertaining to Electronic Medical Records (EMRs), and other unnecessary administrative burdens.

ContinueThe U.S. Health Care Freedom Plan 2017: America’s clean and affordable alternative to ObamaCare. Ready to launch.

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2017 (1900)

Katz, Krueger: America’s “Part-Time Jobs” Debacle

A record 95.1 million working-age Americans are not currently in the labor market, according to a Dec 2, 2016 report.

Furthermore, the large majority of the jobs that the U.S. government takes credit for ‘churning out’ are… part-time, or “alternative work,” jobs.

America needs a new plan…

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Top Ex-White House Economist: “94% of All New Jobs Under Obama Were Part-Time    ZeroHedge 12-25-2016 / Excerpts:

[A recent] report by Harvard and Princeton economists Lawrence Katz and Alan Krueger, confirms exactly what we warned. In their study, the duo show that from 2005 to 2015, the proportion of Americans workers engaged in what they refer to as “alternative work” soared during the Obama era, from 10.7% in 2005 to 15.8% in 2015. Alternative, or “gig” work is defined as “temporary help agency workers, on-call workers, contract company workers, independent contractors or freelancers”, and is generally unsteady, without a fixed paycheck and with virtually no benefits.

The two economists also found that each of the common types of alternative work increased from 2005 to 2015—with the largest changes in the number of independent contractors and workers provided by contract firms, such as janitors that work full-time at a particular office, but are paid by a janitorial services firm.

Krueger, who until 2013 was also the top White House economist serving as chairman of the Council of Economic Advisers under Obama, was “surprised” by the finding.

Quoted by quartz, he said “We find that 94% of net job growth in the past decade was in the alternative work category,” said Krueger. “And over 60% was due to the [the rise] of independent contractors, freelancers and contract company workers.” In other words, nearly all of the 10 million jobs created between 2005 and 2015 were not traditional nine-to-five employment.

[Snip]

The decline of conventional full-time work has impacted every demographic. Whether this change is good or bad depends on what kinds of jobs people want. “Workers seeking full-time, steady work have lost,” said Krueger. He then added, perhaps sarcastically, that “while many of those who value flexibility and have a spouse with a steady job have probably gained.”

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America needs a citizen-centered economic acceleration plan to get our economy back up on its feet and moving forward….

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2017 (1888)

David Collum: “Full blown” recession coming. Solution…? The Leviticus 25 Plan

David Collum: We’ve Got A Recession Coming                                                            ZeroHedge 12-27-2016  /                                                                                                   Submitted by Adam Taggart via PeakProsperity.com,

[Excerpts:]                                                                                                                               Whether or not you’ve had time yet to plow your way through David Collum’s excellent 2016 Year in Review, our annual podcast with Dave always brings additional color to light — and this year’s is no exception.

Recession coming, one of the full-blown kind. And I don’t know what will happen. My prediction is that it is going to be a bad one. But what a lot of people don’t realize is that is when things start unwinding, counter party risk kicks in and faulty business models start showing up as bad and they start collapsing. All the accounting problems that built up behind the scenes so that the people cook the books to get their bonuses up and they made these crazy assumptions — under the protective cloak of a recession, CEOs can get away with announcing anything because they say Hey, don’t look at me. It’s a recession. So they write down huge blocks of cost.

This actually exacerbates the downswing because people are dumping all their cooked books and getting all the fraud off their books so they don’t have to fess up to the fact that they cooked them. In actuality, they’re getting ready to then start building up their stock options again from some bottom somewhere.

This is going to unwind. It has to unwind….

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When this storm hits… it’s not going to be pretty for millions of working families in America.

Big-government central planning and massive credit market debt purchases and interest rate targeting by Central Banks have done nothing create anything resembling true stability in global economics.

Financial stability and economic strength starts at ‘ground level.’

The Leviticus 25 Plan 2017 –  $75,000 per U.S. citizen                                                        The Leviticus 25 Plan 2017 (1884)

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“You never change things by fighting the existing reality.                                                              To change something, build a new model that makes the                                                     existing model obsolete.”     – R. Buckminster Fuller