Friday, July 17, 2015

Catherine Austin Fitts & Arch Crawford

July 17, 2015

Featured Guests
Catherine Austin Fitts & Arch Crawford
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Summary:
  • Catherine Austin Fitts, former Assistant Secretary of Housing and Federal Housing Commissioner and president of Solari, Inc., publisher of the Solari Report, returns to the show.
  • She's concerned by the crumbling US infrastructure and lack of constructive efforts to rectify the situation.
  • Whereas, China continues to pour funds into its infrastructure On a trip to China she discovered that 80% of the legislature is written by economists / engineers, while 90% of US legislation is dictated by attorneys.
  • Investment in infrastructure will determine if the bifurcated economy unites as a viable competitive engine.
  • The former Wall Street maven says US stocks are overdue for a correction.
  • The US dollar rally, fomented by the Fed rate hike policies, could jeopardize the global equity market advance.
  • Arch Crawford, head of Crawford Perspectives, is sticking with his dire prognostication for the rest of 2015.
  • The stock market could face severe consequences, amid market manipulation.
  • The M2 money supply velocity figure has collapsed to the lowest level on record, since first tabulated in 1959, suggesting that the trillions in Fed debt purchases has done little to stimulate economic output.
  • Institutions are simply parking cash in less risky investments amid severe market manipulation (Figure 1.1.).
  • Given the ominous "death cross" seen in the non-confirmation of the transports sector relative to new highs in the Dow Jones Industrials.
  • Arch says the market top is in place and no new highs are likely.
  • His prediction is dire, modern civilization hangs in the balance as a Kondratiev Winter-like scenario leads to the end of most financial markets.
  • At the root of the systematic problem is the fractional banking system, which prints money into existence at will with limited to zero oversight.
  • Nevertheless, cooler heads may prevail - the host shares his market ontology, coining the pun, "blog-o-fear," a play on blog-o-sphere, as fear sells and far too many pundits are making bearish calls.
  • Most market peaks are accompanied by euphoria and or complacency.

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Chris Waltzek:
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