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Revolver Maps

The Fetid Swamp of Tax Reform

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charleshughsmith.blogspot.com / CHARLES HUGH SMITH / THURSDAY, NOVEMBER 09, 2017

The likelihood that either party will ever drain the fetid swamp of corruption that is our tax code is zero, because it’s far too profitable for politicos to operate their auction for tax favors.

To understand the U.S. […]

US Spent A Record $4 Trillion In Fiscal 2017, Pushing Deficit To $666 Billion

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zerohedge.com / by Tyler Durden / Oct 20, 2017 3:15 PM

One year ago, the CBO forecasted that the Fiscal 2017 US deficit (for the year ended September 30), would be in the mid-$500 billion range. It was not meant to be, however, and on Friday the Treasury […]

Lawsuits Against Equifax Pile Up. But Where Are the Handcuffs?

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wolfstreet.com / by Wolf Richter / Sep 17, 2017

Short seller Carson Block victimized by Equifax hack, Sues for $500,000

Carson Block, the infamous short-seller who among other things peeled back some of the layers covering up Valeant’s murky business schemes and crushed its shares and made […]

Massive Equifax Hack Shows Cyber Risk to Deposits and Investments Today

goldcore.com / By janskoyles / September 13, 2017

44% of US population affected by Equifax hack Hackers took names, birthdays and addresses, Social Security and driver’s license numbers Steve Mnuchin “concerned about the global financial system and keeping it safe,” Hacks is a reminder of the vulnerabilities created in a connected world Cyber security […]

Federal Agency Issues Warning on Reverse Mortgages

wallstreetonparade.com / By Pam Martens and Russ Martens / August 30, 2017

The Consumer Financial Protection Bureau (CFPB), the Federal agency created after the 2008 financial crash to protect consumers from predator banks, has issued a warning on what smells like the latest financial blood sport: bank employees selling reverse mortgages to seniors under […]

Systemic Uncertainty, Meet Fragility

charleshughsmith.blogspot.com / CHARLES HUGH SMITH / TUESDAY, AUGUST 29, 2017

That’s the problem with fragility: everything looks fine on the surface until a crisis applies pressure. Then the whole rickety contraption collapses in a heap..

This doubt is fact-based; as the number of retirees swells, as Medicare costs soar ever higher and the number […]

Social Security requires a bailout that’s 60x greater than the 2008 emergency bank bailout

sovereignman.com / by Simon Black / August 11, 2017

A few weeks ago the Board of Trustees of Social Security sent a formal letter to the United States Senate and House of Representatives to issue a dire warning: Social Security is running out of money.

Given that tens of millions of Americans depend on […]

Incoming MASSIVE Quantitative Tightening

market-ticker.org / by Karl Denninger / 2017-07-21

No, the “risk” from “quantitative tightening” is not The Fed.

Yes, the reduction of their balance sheet will be a tightening.

But you’re a fool if you think this is the only — or even the largest source of such tightening over the next number of years — […]

Social Security Will Be Paying Out More Than It Receives In Just Five Years

shtfplan.com / Mac Slavo / July 18th, 2017

When social security was first implemented in the 1930’s, America was a very different country. Especially in regards to demographics. The average life expectancy was roughly 18 years younger than it is now, and birth rates were a bit higher than they are now. By the […]

How 1,000s Of Student Loans Worth Billions Are Getting Erased On A Technicality

zerohedge.com / by Tyler Durden / Jul 17, 2017

National Collegiate Funding (NCF) is an umbrella name for 15 trusts that collectively hold 800,000 private student loans, totaling some $12 billion in outstanding obligations. The only problem is that roughly $5 billion worth of those loans, or over 40%, are currently in default (and […]

If You Can’t Answer These 5 Social Security Questions, You’re Not Ready to Retire

wallstreetexaminer.com / by Cooper Creagan • July 12, 2017

For millions of Americans, Social Security is their livelihood.

Over 66 million people receive Social Security – that’s 20% of the U.S. population. A whopping one-third of these beneficiaries rely on Social Security for at least 90% of their income. What’s more, for 61% of all […]

21/5/17: Student Loans Debt: The Bubble is Still Inflating

trueeconomics.blogspot.com / by Constantin Gurdgiev / Monday, May 22, 2017

Having covered the latest news on the U.S. household debt continued explosion (see http://trueeconomics.blogspot.com/2017/05/19517-us-household-debt-things-are-much.html) and the ongoing deepening of the long term insolvency within the U.S. Social Security system (here: http://trueeconomics.blogspot.com/2017/05/19517-reminder-social-security-is-only.html), let’s take a look at the second largest source of household debt (after […]

“Autonomous” Cars . . . and Social Security “Contributions”

ericpetersautos.com / By Eric Peters / May 17, 2017

Within 12 years, only 5 percent of the driving done in this country will be done by “autonomous” drivers – according to a study that is getting huge play all over the mediascape.

That is to say, only 5 percent of the driving will […]

Democrats Count of Press to Blame Trump if Social Security Defaults Temporarily

armstrongeconomics.com / by Martin Armstrong / May 1, 2017

The Debt Ceiling issue is back and of course people will sell the dollar as if the USA would actually default. The bulk of the debt is owned by the government so any default would send the economy down and pension funds from Social Security […]

Student Loan Debt Now Big Problem for Baby Boomers

schiffgold.com / BY SCHIFFGOLD / APRIL 25, 2017

When we talk about the student loan crisis, we tend to focus on millennials. After all, they are the ones impacted most directly by the ever-increasing burden of student loan payments. Student loan debt is one of the biggest factors driving a growing trend of millennials […]

Socialism Contradicts Freedom of Religion – Why Amish do not Pay Social Security Taxes

armstrongeconomics.com / by Martin Armstrong / Apr 5, 2017

In 1935, Roosevelt introduced “The Social Security Act” which passed Congress. However, the act was described “Old Age, Survivors, and Disability Insurance.” At first, the Act covered only industry and commerce. It was later extended to include farm operators in 1955. The SS tax […]

Implementation Of Permanent Health Reform*

market-ticker.org / by Karl Denninger / 2017-04-04

Let’s talk about the implementation of my model bill that I recently posted to reform health care on a permanent basis.

It’s fairly easy to envision timelines based on complexity. Simply put, most of this isn’t complex because providers have price lists now — you just can’t see […]

Freedom Caucus & Big Bang

armstrongeconomics.com / by Martin Armstrong / Apr 4, 2017

I have been warning that we are headed directly into the collapse of socialism; not capitalism, simply because politicians have been bribing people’s votes with all sorts of promises they never planned on providing. Social Security may have began as a good idea, but then […]

The Social Security Trust Fund Is Just a Stack of IOUs in a West Virginia Filing Cabinet

wallstreetexaminer.com / by David Zeiler via Money Morning / March 31, 2017

The Social Security Trust Fund every retiree is relying on is not what most Americans believe it is.

The brutal truth is this $2.85 trillion fund, which is supposed to keep the Social Security program solvent until the year 2033, has no money […]

Jeff Sessions Defending America’s Right to Exist

thecommonsenseshow.com / By Dave Hodges / March 28th, 2017

AMERICA NEEDS IMMIGRATION. MOST IMMIGRANTS DO NOT POSE AN EXISTING THREAT TO THE UNITED STATES.

America’s native birthrate is 1.8. The US needs a birthrate of 2.1 in order to maintain social programs such as Medicate, Medicaid and Social Security. However, our totally open borders […]

Trump Will Make Social Security Cuts If This Appointee Gets His Way

wallstreetexaminer.com / by Money Morning Staff Reports via Money Morning / March 9, 2017

While on the campaign trail, then presidential hopeful Donald J. Trump promised he would never make Medicare or Social Security cuts if elected.

“Save Medicare, Medicaid, and Social Security without cuts. Have to do it,” Trump stated at a rally […]

The State of US State Exports

mauldineconomics.com / BY GEORGE FRIEDMAN AND JACOB L. SHAPIRO / MARCH 6, 2017

A domestic political battle is brewing in the United States between President Donald Trump’s administration and the Republican Party over the president’s economic plans. Trump’s key economic positions during his campaign included his opposition to free trade deals, his promise not to […]

OK, I Get It, None of My Data is Safe. But I Did Something Nasty that Helps a Lot

wolfstreet.com / by Wolf Richter / Mar 3, 2017

Healthcare providers, insurers, colleges, tax accountants… have your crown jewels. They get hacked all the time.

The big data breaches at Yahoo and Target make headlines. In fact, Yahoo’s data breaches, rejuvenated by new disclosures, can’t seem to get out of the headlines. If you […]

Why the Middle Class Should Love Trump’s Budget Proposal This Week

wallstreetexaminer.com / by Money Morning Staff Reports via Money Morning / February 27, 2017

President Donald Trump’s budget proposal – due sometime this week – will spare cuts to big social welfare programs like Social Security and Medicare.

That’s according to Treasury Secretary Steven Mnuchin yesterday…

Mnuchin told FOX Business on Sunday morning that the […]

GEARING UP FOR MORE WAR? TRUMP SEEKS “HISTORIC” 10% INCREASE IN MILITARY BUDGET

thedailysheeple.com / THE DAILY SHEEPLE / FEBRUARY 27, 2017

It has just been announced ahead of Trump’s address to a joint session of Congress that the president plans to cut funding to the majority of other agencies in the government in order to boost the defense and national security budget by ten percent.

Congress […]