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Kenneth Schortgen Jr.

Space: The final tax frontier

As the old axiom goes, there are only two constants in life... those being death and taxes.  And while it is normally nature and fate that determines the date of ones demise, taxes are solely under the dominion of man and governments. So just when we thought a government entity couldn't be more inane after the city of Philadelphia imposed a tax on any and all beverages that contain even a trace of sugar, th ...

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Student loan default process looking eerily like 2008 housing foreclosures as DOE orders halt to collections

When the housing bubble burst in 2007-08, the courts were inundated with hundreds of thousands if not millions of mortgage defaults that were immensely convoluted due to the fact that wall street fraud had made determination of ownership nearly impossible.  And the heart of this was the process where mortgage lenders had sold their mortgages to investment banks who then split the deed from the title, and th ...

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The Fed’s dichotomy as interest on the debt now costs the government $500 billion per year from their budget

On May 4 it was determined that the U.S. taxpayer (government) now pays over $500 billion per year in interest on the nearly $20 trillion of national debt.  That equates to 13% of their annual budget which as of last year was $3.8 trillion before adding another $1 trillion or so in deficit spending. Thus both the government and the Federal Reserve are in a quandary, especially as the economy begins to slow ...

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Liberal insurgents training for terrorism on U.S. soil in the deserts of Arizona

The official definition of terrorism is the use of violence and terror to achieve a political goal.  And with irrefutable evidence shown in places like Washington D.C. on inauguration day, and harm done to persons and property on the Berkeley campus in California over the past two months, the group known as Antifa have shown themselves to be an insurgent organization who conducts their operations using terr ...

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Puerto Rico’s default and bankruptcy four times bigger than that of Detroit

When the City of Detroit defaulted on their debt and were forced to file for Chapter 9 bankruptcy back in 2013, it was the largest municipal bankruptcy in U.S. history. Until now. That is because the U.S. protectorate Puerto Rico on May 3 defaulted on their own debt, and are about to surpass Detroit by a measure of four in becoming the new largest municipal default. As per our report last night that followi ...

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Bank run on Canada’s largest alternative home lender could potentially lead to systematic run on all banks

One of the biggest warning signals that went primarily under the radar leading up to the 2008 banking collapse and financial crisis was the run on Northern Rock bank in the UK a year earlier.  And while the British exchequer was able to mollify the public through a series of emergency measures to stop the run, it was a foreshadowing of the bursting of the Western housing bubble, and was close to ground zero ...

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Consumer debt defaults accelerating shortly after overall credit card debt crosses $1 trillion

If the 2008 financial crisis was known for its millions of foreclosures, the next collapse will likely be remembered for the amount of defaulted debt that occurs for consumers, corporations, and perhaps even major sovereign governments. And part of these debt defaults are already beginning shortly after consumer credit card debt has escalated to over $1 trillion. Two weeks ago, when JPMorgan launched Q1 ear ...

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Mainstream media irony: New York Times subscribers rebel when they hire non-fake news journalist

It must be true that the mantra of liberals is that 'ignorance is bliss' because despite the hemorrhaging of subscribers over the past several years that the New York Times has experienced for all their fake news reporting, many of the remaining readers are now in an uproar after the newspaper hired someone who has a history of speaking out against the false topic of climate change. That's right.  Remaining ...

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FDIC closes down fourth bank of 2017 in the state of Louisiana at a cost of nearly $1 billion

On April 28, the FDIC closed down their fourth bank for 2017 as First NBC Bank shuttered its doors.  This institution is the first bank failure for the month of April, and the first Louisiana bank closure since November of 2011. 4/28/2017 *** Louisiana *** New Orleans *** First NBC Bank *** $996.9 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $996.9 million. If you were ...

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A rounding error may be only thing keeping U.S. economy from negative GDP in first quarter of 2017

As we wait upon the 'official' final number from the government regarding first quarter GDP, on April 27 both the Atlanta Fed and JP Morgan downgraded their forecasts to .02 and .03% respectively.  And in essence this equates to little more than a rounding error since government modeling adds in double 'seasonal adjustment' variables that tend to always skew the outcome positive. We now believe that real GD ...

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Climate change scam artist Al Gore has a new scheme and it will only require $15 trillion from world governments

If there was just one thing a person was to do in attempting to find out the truth behind both man-made global warming, and then its transition to 'climate change', they would simply have to follow the one hard and fast golden rule... follow the money. When hundreds of climate scientists published and signed their names to a UN study on global warming, and man's effects behind its cause, their 'science' was ...

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Nothing to see here as Dow crosses back over 21,000 and global markets hit new all-time highs

Despite continuing insolvency threats to Italian and German banks, economic data that shows the U.S. is well into a recession, and central banks that are tapering their punch bowls at a rapid pace, on April 25 the markets have summarily ignored all true indicators and are back into the sphere of 'irrational exuberance' as the DOW once again crossed back over 21,000, and world exchanges achieved new all-time ...

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