Our Most Important Campaign Deadline So Far Is Here – And Here Is The Shocking Reason I Am Not Asking For Any Money

The most important deadline that we have faced so far is at midnight on Sunday, but I am not going to ask you for any money. I just want to say thank you to everyone that has donated, volunteered and prayed over the past six months. Without all of your efforts, it would have been impossible for us to be within striking distance of victory here in Idaho’s first congressional district with just a little more than four months to go until election day. When I first announced that I would be running, many people told me that it would be impossible for a political outsider to win in this district, but we are proving the naysayers wrong. We are so far ahead of where we thought that we would be at this point, and our opponents are literally freaking outover how well we are doing.
As the December 31st deadline approaches, my opponents have been sending out email after email in a desperate scramble for money. The reason why I know this is true is because we are on all of their email lists.
But I have decided that we are not going to do the same thing. Yes, we need support just as badly as they do, but I am simply going to trust the Lord that the resources will come in. We have already told our supporters what our needs are, and we are going to trust that the Lord will move in the hearts of those that are supposed to give.
The stakes in this race are exceedingly high. As we look at the numbers, it appears likely that one particular opponent is likely to emerge victorious if I do not win next May. If he wins, it will be a complete and utter disaster for the Trump movement.
This particular opponent fought to keep Donald Trump out of the White House, his campaign has repeatedly attacked my faith, and by lying over and over again he has demonstrated that he simply does not have the moral character to serve in Congress.

This post was published at The Economic Collapse Blog on December 30th, 2017.

The US Suffered 15 Billion-Dollar-Plus Weather Disasters In 2017

In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the US received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash of hurricanes, fires and floods.
According to Bloomberg, the US recorded 15 weather events costing $1 billion or more each through early October, one short of the record 16 in 2011, according to the federal government’s National Centers for Environmental Information in Asheville, North Carolina. And that tally doesn’t include the recent wildfires in southern California, one of which grew to be the largest fire in state history, according to Bloomberg.
Among the most devastating events were hurricanes Harvey, Irma and Maria and wildfires in northern California. The killer storms caused economic losses of more than $210 billion in the U. S. and across the Caribbean, and about $100 billion in insured damages, according to Mark Bove, a senior research scientist with Munich Reinsurance America in Princeton, New Jersey.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

Jihadist Group Blows Up Oil Pipeline In Iran, In Midst Of Protests

In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the US received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash of hurricanes, fires and floods.
According to Bloomberg, the US recorded 15 weather events costing $1 billion or more each through early October, one short of the record 16 in 2011, according to the federal government’s National Centers for Environmental Information in Asheville, North Carolina. And that tally doesn’t include the recent wildfires in southern California, one of which grew to be the largest fire in state history, according to Bloomberg.
Among the most devastating events were hurricanes Harvey, Irma and Maria and wildfires in northern California. The killer storms caused economic losses of more than $210 billion in the U. S. and across the Caribbean, and about $100 billion in insured damages, according to Mark Bove, a senior research scientist with Munich Reinsurance America in Princeton, New Jersey.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

Goldman Showers Execs With $100 Million In Early Bonuses To Avoid Trump Tax Hit

Goldman Sachs has accelerated nearly $100 million in stock awards to top executives before the end of the year in order to avoid unfavorable changes in the new tax code, according to public filings posted Friday.
The most sweeping overhaul of U. S. tax code in 30 years includes a provision which caps a corporate deduction for executive pay; under current law, corporations can deduct up to $1 million per executive’s base salary, however there’s no cap on deductions for performance-based pay, such as bonuses.
Under the new provisions, both base salary and performance bonuses count towards to $1 million cap – which is why Goldman accelerated $94.8 million in bonuses originally scheduled for January, 2018. By paying the bonuses early, the bank will save money on its own tax bill.

This post was published at Zero Hedge on Sat, 12/30/2017 –.

The Dreaded ‘Flattening Yield Curve’ Meets QE Unwind

During prior incidents of an ‘inverted’ yield curve, the Fed had no tools to get the market to push up long-term yields. Today it has one: the QE Unwind.
The price of three-month Treasury securities fell and the yield – which moves in the opposite direction – rose, ending the year at 1.39%, after having spiked to 1.47% on December 26, the highest since September 12, 2008. This is in the upper half of the Fed’s new target range for the federal funds rate (1.25% to 1.50%). Back in October 2015, the yield was still at 0%:

This post was published at Wolf Street by Wolf Richter ‘ Dec 30, 2017.

The Myth of Insufficient Demand

Following the ideas of Keynes and Friedman, most mainstream economists associate economic growth with increases in the demand for goods and services.
Both Keynes and Friedman felt that The Great Depression of the 1930’s was due to an insufficiency of aggregate demand and thus the way to fix the problem is to boost aggregate demand.
For Keynes, this was achieved by having the federal government borrow more money and spend it when the private sector would not. Friedman advocated that the Federal Reserve pump more money to revive demand.
There is never such a thing as insufficient demand as such, however. An individual’s demand is constrained by his ability to produce goods. The more goods that an individual can produce the more goods he can demand, and thus acquire.
Note that the production of one individual enables him to pay for the production of the other individual. (The more goods an individual produces the more of other goods he can secure for himself. An individual’s demand therefore is constrained by his production of goods).
Note again demand cannot stand by itself and be independent – it is limited by production. Hence, what drives the economy is not demand as such but the production of goods and services.
In this sense, producers and not consumers are the engine of economic growth. Obviously, if he wants to succeed then a producer must produce goods and services in line with what other producers require.
According to James Mill,

This post was published at Ludwig von Mises Institute on Dec 29, 2017.