Bankruptcy

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30th Anniversary Edition ~ Sovereign’s Handbook by Johnny Liberty Now Available! | Liberty International

If you have ever heard talk or been to a seminar about “sovereignty”, then very likely those conversations were influenced by the foundational research of the author and educator.

His research and educational journey reaching millions of people worldwide began in 1992 and culminated in 2022 with the 3-Volume book release – his final word on the subject.

At the turn of the millennium his books and audio courses facilitated in part –  a sovereignty and tax-honesty movement that involved millions of Americans.

This 3 Volume series comprises the life’s work of Johnny Liberty filled with comprehensive insights into the last few hundred years of history, law, economics, money, citizenship and governance. 

These books show how it is supposed to be done in a constitutional Republic. 

How did We the People get to where we are today? 

What can we do to reclaim our inherent sovereignty and natural rights? 

Many of the answers may be found within these revolutionary pages. Available as a paperback, E-Book (PDF) or an Amazon Kindle format. Thank you for supporting the author. 

Sincerely, 

With Freedom For All, 
~ Johnny Liberty

Sovereign’s Handbook by Johnny Liberty (30th Anniversary Edition)

  • A three-volume, 750 page tome with an extensive update of the renowned underground classic ~ the Global Sovereign’s Handbook.
  • Still after all these years, it is the most comprehensive book on sovereignty, economics, law, power structures and history ever written.
  • Served as the primary research behind the best-selling Global One Audio Course.
  • ORDER NOW!
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The 3 Volume Sovereign’s Handbook by Johnny Liberty is textbook material for everyone including educators/teachers, homeschoolers, historians, activists, leaders/politicians, attorneys/judges/law schools, police officers, and state Citizens/Nationals. 

Order Additional Books, Audios & Videos from The Freedom Catalog: LibertyInternationalBooks.com 
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Sovereign’s Handbook by Johnny Liberty 
(30th Anniversary Edition)
(3-Volume Printed, Bound Book or PDF)

A three-volume, 750+ page tome with an extensive update of the renowned underground classic ~ the Global Sovereign’s Handbook. Still after all these years, this is the most comprehensive book on sovereignty, economics, law, power structures and history ever written. Served as the primary research behind the best-selling Global One Audio Course. Available Now!

$99.95 ~ THREE-VOLUME PRINT SERIES
$33.33 ~ THREE-VOLUME EBOOK

Dawning of the Corona Age: Navigating the Pandemic by Johnny Freedom 
(3rd Edition)
(Printed, Bound Book or PDF)

This comprehensive book, goes far beyond the immediate impact of the “pandemic”, but, along with the reader, imagines how our human world may be altered, both positively and negatively, long into an uncertain future. Available Now!

$25.00 ~ PRINT BOOK
$10.00 ~ EBOOK

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What the Dow’s 28% Crash Tells Us About the Economy | Bloomberg

2400x-1Johnny Liberty, Editor’s Note: This is exactly why we stayed out of the markets due to the possibility of extreme fluctuation due to events beyond our control (e.g., coronavirus). This market adjustment was long overdue and the Power Structure took advantage of the “panic” in partnership with Big Media to remove trillions of dollars of value.

By Dave Merrill and Esha Dey

It is hard to follow the stomach–turning plunge across financial markets without hearing a reference to the Dow.

Professional money managers, as well as casual investors, often look at the Dow—or the Dow Jones Industrial Average—to get a 30-thousand feet view of the markets. Referred to as simply the Dow, it is a price–weighted average of 30 blue–chip U.S. stocks that are generally the leaders in their industry.

Amid the current carnage, observing the index can help in gauging the damage the coronavirus is inflicting on portfolios, and whether the downturn is a short-turn consequence of disrupted supply chains and skittish consumer demand or a broader symptom of a bull market that has run its course.

To better understand the differing aspects of the economy and the signals they are flashing, we have grouped the 30 Dow stocks into nine broad economic sectors—health care, energy, consumer staples, communication services, information technology, consumer discretionary, financials, industrials and basic materials. Here is an overview of the U.S. stock market through the lens of the Dow.

Graphic1

Components of a 8,300-Point Drop

Critics of the Dow say that it inaccurately portrays the general market as stocks with a higher price, such as Apple and Boeing, are over represented. Boeing is a relevant example as its current decline does not only reflect troubles related to the coronavirus outbreak, but also its ongoing crisis that was triggered by two fatal crashes of its 737 Max jet within a span of five months early last year. However, it is now the most significant contributor to the Dow’s drop since its peak on Feb. 12.

Graphic2

Percentage Drop by Industry Sectors, Best to Worst Performing

As shown in the chart above, certain stocks, such as Walmart, have been fairly resilient, with consumer staples as a group faring better than the rest overall. On average, stocks in four other sectors, health care, communications services, information technology and consumer discretionary are performing better than the overall drop of 28% in the Dow.

Consumer Staples

-7.7%
These consumer products are those that remain in family budgets regardless of financial problems in the larger economy, and are expectedly doing relatively better than the rest of the index. Walmart’s stock is seen as a “place to hide” amid the looming threat of a recession, while grocery sales overall are surging as consumers stock up and get ready to wait out the pandemic.

Health Care

-13.6%
Shares of pharmaceutical and biotechnology drug developers have done well amid the widespread panic, as several companies unveiled plans to combat Covid-19. At the same time, investors soured on the nation’s hospitals, which already saddled with debt, may feel an increased pressure as elective surgeries are delayed. Also, if the economy slides into a recession, it might mean the hospitals would get more patients that are covered by Medicare and Medicaid, which are less profitable, as well as see an increase in unpaid bills.

Communication Services

-20.4%
While the Dow includes just two companies from this group—Walt Disney and Verizon—overall, the sector’s stocks have done better than the broader market given a mixed exposure to the virus spread. The crisis has led to a drastic drop in ticket sales at movie theaters, yet, another part of the sector—like wireless service provider Verizon—remains largely insulated from any coronavirus impact, though equipment sales could see some declines due to supply constraints and store closings.

Information Technology

-25.5%
Technology companies—be it IBM, Apple or Microsoft—are being seen as reasonably defensive as patient investors look ahead to key tailwinds in 5G technologies, cloud computing products and artificial intelligence, even though strained global supply chains may have put a dent in near-term optimism.

Consumer Discretionary

-30.8%
Discretionary spends, such as buying new shoes, clothes, furnitures or cars, or even eating out, are expected to go down, reflected in the sharp decline seen in the stocks of Nike and McDonald’s. Restaurant stocks have continued to slide, as more companies shifted to takeout only, either by choice or state/city mandate, while cruise-line operators’ stocks are in a freefall.

Financials

-32.4%
Financial companies have been among the hardest hit as the virus threatened to tip the economy into a recession, with the KBW index of top U.S. banks falling nearly 40% since mid-February when the broader virus-fueled selloff began. With the Federal Reserve slashing its benchmark rate to near zero over the weekend, banks’ profits are expected to feel the squeeze, along with rising concern that borrowers may not be able to pay back loans in a faltering economy.

Industrials

-37.6%
With the virus outbreak forcing social distancing, and keeping people from buying cars or taking flights, the impact is rippling through the manufacturing industry and its supply chain. Factories and plants across the globe are being forced to shut down. Boeing, which was already struggling to sort out its troubles related to the 737 Max aircraft that was grounded last year after two fatal crashes, is now facing a double whammy as the airline industry sees an unprecedented drop in demand. That may, in turn, force airlines to defer their aircraft orders, or even cancel some if the situation does not improve in a few more months. The overall investor nervousness is also reflected in the shares of Caterpillar and United Technologies, two stocks that can be seen as bellwethers of the global industrial economy.

Energy

-38.4%
Energy stocks are taking a beating as the sector faces demand headwinds from coronavirus, while the ongoing price war between Saudi Arabia and Russia isn’t helping anyone’s cause. Energy is the worst-performing group in the S&P 500 this year, down 54%. Meanwhile, U.S. shale drillers are responding by slashing their capital budgets and dividends in a bid to weather the downturn.

Materials

-46.1%
The S&P 500 Materials index has lost about 28% since the rout started on Feb. 21. The worst hit sectors were chemical, fertilizer and industrial metals, all of which depend on the global economy for the demand of their products. The pullback led to fertilizer maker Mosaic Co. and plastic producer LyondellBasell Industries N.V. to lose about 50% of their stock value since the sell-off began. Meanwhile, gold miner Newmont Corp. was the least affected stock within the materials, as gold prices held up relatively well amid global panic selling.

Recoveries from Collapse

Since the 1980s, the Dow has recorded three other losses of more than 25% from previous highs. Historically, recoveries from these lows have taken many months.
Graphic3
Source: Bloomberg
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Coronavirus will bankrupt more people than it kills — and that’s the real global emergency | MSN

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By Omar Hassan

Coronavirus’s economic danger is exponentially greater than its health risks to the public. If the virus does directly affect your life, it is most likely to be through stopping you going to work, forcing your employer to make you redundant, or bankrupting your business.

The trillions of dollars wiped from financial markets this week will be just the beginning, if our governments do not step in. And if President Trump continues to stumble in his handling of the situation, it may well affect his chances of re-election. Joe Biden in particular has identified Covid-19 as a weakness for Trump, promising “steady, reassuring” leadership during America’s hour of need.

Provided by The IndependentWorldwide, Covid-19 has killed 4,389 with 31 US deaths as of today. But it will economically cripple millions, especially since the epidemic has formed a perfect storm with stock market crashes, an oil war between Russia and Saudi Arabia, and the spilling over of an actual war in Syria into another potential migrant crisis.

We may look back on coronavirus as the moment when the threads that hold the global economy together came unstuck; and startups and growing businesses like mine could end up paying the price.

Just as important as fighting the virus — if not more important — is vaccinating our economies against the incoming pandemic of panic. Human suffering can come in the form of illness and death. But it can also be experienced as not being able to pay the bills or losing your home.

Small businesses in particular are struggling as supply chains dry up, leaving them without products or essential materials. Factory closures in China have led to a record low in the country’s Purchasing Manager’s Index which measures manufacturing output. China is the world’s largest exporter and is responsible for a third of global manufacturing, so China’s problem is everyone’s problem — even in the midst of a trade war between the White House and Beijing.

All this makes it even more worrying that governments continue to see this as a health crisis, not an economic one. It is time the economists took over from the doctors, before the real pandemic spreads.

It is difficult to imagine Italy not entering a recession (the world’s ninth-largest economy is now on lockdown). It is also difficult to imagine that failing to affect Europe and its largest trading partner, the United States. And it is impossible to see how any of this will not add up to a global downturn, unless governments step in faster and harder than they did 12 years ago during the last financial crisis.

The stakes are higher this time, because there seems to be a coordinated effort to economically hurt many Western countries, and warn them away from the aggressive trade policies that Trump has so enthusiastically adopted.

Although China bore the brunt of the virus’s economic and human cost, many in Beijing will see a silver lining in the weakening of the US economy, and a distraction from Trump’s trade wars that appeared to be escalating with no end in sight.

Almost perfectly synchronized with the coronavirus, a Russia-Saudi oil war has erupted. In the short-term, both Moscow and Riyadh can afford the 30 per cent overnight drop in the oil price. But America’s shale gas business cannot: The more expensive process of fracking means that much of the US oil sector will simply not exist if oil prices stay at historic lows, leading to shut downs, job losses and perhaps even state-level recessions.

President Trump has pushed through overdue payroll tax cuts and help for hourly workers — measures that will help both employers and employees survive. In the UK, Chancellor Rishi Sunak yesterday unveiled a ‘Coronavirus Budget’. But everyone needs to think bigger if they want to properly deal with how this new factor changes the status quo.

This is about much more than coronavirus, oil prices, or even the global economy. This is about the balance of power between East and West. The epicenter of this has been, for the last 10 years, Syria. After a decade of conflict on the ground, the face-off seems to have now escalated from proxy war to economic conflict.The emerging superpowers of Russia and China witnessed what many saw as American irrelevance in Syria. And they are now trying to cement their vision of a truly multi-polar world. Rather than allowing US ally Saudi Arabia to lead the oil markets through the OPEC cartel, Russia and China want to reshape global markets — and power balances — to their advantage.

To survive these shifts, the US, UK and others will need to protect the future of their businesses, large and small, and look for opportunities to benefit from the new economic world order, not deny it. Ignoring these changes will be even more damaging than any flu pandemic.

Source: MSN

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Bernie Sanders unveils comprehensive $16.3 trillion Green New Deal plan amid climate crisis | CNN

Editor’s Note: I include this post as an interesting conversation starter, but do not consider the Green New Deal a sound proposal for addressing climate change (unless you intend on bankrupting the country to achieve it). 

By Gregory King

Sen. Bernie Sanders on Thursday added progressive meat to the bones of the Green New Deal with the release of his comprehensive $16.3 trillion climate change program ahead of a campaign stop in Paradise, California, the city leveled by a devastating 2018 wildfire.

Sanders was an early backer of the activist-inspired Green New Deal framework and introduced, with Reps. Alexandria Ocasio-Cortez and Earl Blumenauer, a resolution in July to declare climate change a national emergency.

“Young people, advocates, tribes, cities and states all over this country have already begun this important work,” the campaign says in its new pitch, “and we will continue to follow their lead.”

The Sanders plan channels the rhetoric of the climate movement, calling for a World War II-style mobilization to halt and reverse the effects of global warming over a decade. In the process, the campaign claims, it would create 20 million new jobs in “steel and auto manufacturing, construction, energy efficiency retrofitting, coding and server farms, and renewable power plants.” Sanders’ blueprint will be compared to proposals put forward by Sen. Elizabeth Warren and Washington Gov. Jay Inslee, who released a robust suite of cross-sector plans before ending his campaign on Wednesday.

In a CNN poll from late April, 96% of potential Democratic voters said “aggressive action to slow the effects of climate change” was somewhat or very important — the closest to a unanimous finding in the survey. The Democratic National Committee has so far not hosted a climate-specific debate, but 10 of the 2020 primary candidates will take part in a September 4 CNN town hall focused exclusively on the crisis.

During his time in office, President Donald Trump has rolled back dozens of environmental rules and regulations. Sanders in his plan promises to “aggressively enforce” the Clean Air Act, through the Environmental Protection Agency, to restrict dangerous emissions.

But the proposals unveiled Thursday go much further.

Sanders’ prime targets include meeting the Intergovernmental Panel on Climate Change’s goal of 100% renewable energy for electricity and transportation by 2030; cutting domestic emissions by 71% over that period; creating a $526 billion electric “smart grid;” investing $200 billion in the Green Climate Fund; and prioritizing what activists call a “just transition” for fossil fuel workers who would be dislocated during the transition.

The Vermont independent would also cut off billions in subsidies to fossil fuel companies and impose bans on extractive practices, including fracking and mountaintop coal mining, while halting the import and export of coal, oil and natural gas. Additionally, he would use his Justice Department and the Securities and Exchange Commission to pursue criminal and civil cases against energy companies that hid or withheld information — over decades — about the damage their businesses were doing to the environment.

Sanders in 2015 and 2016, during his first presidential campaign, memorably called climate change the foremost national security threat. In recent remarks on the campaign trail, he has promised to reassert US power internationally by taking a more assertive role in climate talks.

“Climate change cannot only be addressed by the United States. It is a global issue,” Sanders said this week in Iowa. “But my promise to you is, instead of ignoring this issue as Trump does, I will help lead the world in bringing countries together to address the issue.”

The proposal is the most in-depth to date from Sanders, who says it will “pay for itself over 15 years” and includes new details on the potential funding sources.

The most significant, at an estimated $6.4 trillion, would come from revenue generated by the sale of clean energy — which will be administered by publicly owned utilities — between 2023 and 2035. Before that, Sanders would cut military spending used to protect global energy interests by more than $1.2 trillion while hitting up fossil fuel companies for more than $3 trillion in “litigation (against polluters), fees, and taxes.” An additional $2.3 trillion, the campaign says, would be raised from the taxes paid on the 20 million new jobs it promises to create.

Part of that money would go toward mitigating the damage already done by climate change — with $162 billion set aside for coastal communities under threat and an additional $18 billion going toward firefighters to combat a spike in dangerous wildfires like the one in Paradise.

To deliver the political will for such a radical transformation, Sanders, as he has throughout his presidential campaigns, is counting on the youth-led activists and progressive movements that he has often inspired and, now, hopes to count on as a source of electoral strength.
Their continued vigor and ability to successfully pressure elected officials is written into the plan.

“We will do this,” the campaign says, “by coming together in a truly inclusive movement that prioritizes young people, workers, indigenous peoples, communities of color, and other historically marginalized groups to take on the fossil fuel industry and other polluters to push this over the finish line and lead the globe in solving the climate crisis.”

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$1.6 trillion in student debt | MSN & Vox

Editor’s Note: Perhaps colleges and universities established as non-profits for the benefit of society should pay off a share of the student debt with a share of their massive endowment funds worth billions and billions of dollars (instead of passing on the burden of debt cancellation for colleges and universities to the American taxpayers). Great socialist idea, but bad for the overall economy.

Student loan debt has increased exponentially in the past few decades. So now, some Democratic presidential candidates propose canceling those debts — all $1.6 trillion of it. But is this a good idea? Who exactly does it benefit? Watch this video…

Source: MSN & Vox

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President Trump’s $4 Trillion Debt Increase | Committee for a Responsible Federal Budget

Editor’s Note: Take note that continued federal deficit spending will land the United States corporation in an irreversible bankruptcy before 2029 when It would bring total debt to about 97 percent of Gross Domestic Product (GDP). That means the US would owe the Federal Reserve almost 100% of the GDP for the entire year (plus interest). 

If the recent budget deal is signed into law, it will be the third major piece of deficit-financed legislation in President Trump’s term. In total, we estimate legislation signed by the President will have added $4.1 trillion to the debt between 2017 and 2029. Over a traditional ten-year budget window, the President will have added $3.4 to $3.8 trillion to the debt. The source of the debt expansion is split relatively evenly between tax and spending policy.

The Tax Cuts and Jobs Act (TCJA) was the single largest contributor to the $4.1 trillion figure, increasing debt by $1.8 trillion through 2029 (more than the entire cost is through 2027). This number could easily climb higher if lawmakers extend the individual tax cuts that are set to expire after 2025, which would add another $1 trillion to the debt.

The Bipartisan Budget Act (BBA) of 2018 was nearly as costly on an annual basis, adding nearly $450 billion to the debt due to its two-year nature. However, the Bipartisan Budget Act of 2019 would effectively make the increases in the BBA 2018 permanent, and in doing so, add another $1.7 trillion to the debt through 2029.

Smaller pieces of legislation are responsible for nearly $150 billion of debt. This includes several different bills containing disaster relief or emergency spending and continued delays of three Affordable Care Act (ACA) taxes, among other bills.

This analysis does not include the fiscal impact of many executive actions taken by the President, some which would increase deficits and others which would reduce them. It also assumes that temporary policies expire as scheduled.

If we evaluate the debt added over the standard ten-year window the Congressional Budget Office (CBO) uses, the numbers are similar but slightly smaller. Using the ten-year period (2018-2027) employed in 2017, lawmakers have added $3.8 trillion to deficits. Using the current ten-year period of 2020-2029, the debt increase is $3.4 trillion. Debt added is lower in the later period because some of the laws, like the TCJA and 2018 BBA, had larger short-term, rather than long-term, costs.

Debt Added Since 2017 Over Different Periods

Legislation 2018-2027 Cost 2020-2029 Cost 2017-2029 Cost
Tax Cuts and Jobs Act $1.9 trillion $1.4 trillion $1.8 trillion
Bipartisan Budget Act of 2019 $1.3 trillion $1.7 trillion $1.7 trillion
Bipartisan Budget Act of 2018 $420 billion $190 billion $445 billion
Other Legislation $140 billion $90 billion $155 billion
Total $3.8 trillion $3.4 trillion $4.1 trillion

Source: CRFB calculations based on Congressional Budget Office data.

Importantly, the $4.1 trillion of debt signed into law by President Trump is on top of the $16.2 trillion we already owe and the $9.8 trillion we were projected to borrow over the next decade absent these proposals. It would bring debt to about 97 percent of Gross Domestic Product (GDP) in 2029, compared to 84 percent if no debt-increasing legislation had been passed.

To avoid the huge run-up in debt that is projected in the coming decades, lawmakers should reject unpaid-for spending increases, pay for the tax bill, and address the rising costs and looming insolvency of our nation’s largest health and retirement programs.

Source: Committee for a Responsible Federal Budget

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Venezuela’s collapse worst outside of war in decades: Economists say | Business Standard & The New York Times

Editor’s Note: The radical leftists, socialists, communists, Marxists and Democrats wish to take America down this road. Remember the former Soviet Union under Lenin and Stalin. Remember Communist China under Mao. Remember Venezuela and other socialist failures before you vote for this.

Venezuelas fall due to poor governance, corruption and the misguided policies of President Nicolas Maduro and his predecessor Hugo Chavez is the single largest economic collapse outside of war in 45 years, outpacing Zimbabwes crumbling under Robert Mugabe, Cubas disastrous unravelling in the 1990s and the fall of the Soviet Union, economists say.

“It’s really hard to think of a human tragedy of this scale outside civil war,” said Kenneth Rogoff, an economics professor at Harvard University and former chief economist at the International Monetary Fund (IMF).

“This will be a touchstone of disastrous policies for decades to come.”

To find similar levels of economic devastation, economists at the IMF pointed to nations that were ripped apart by war, like Libya earlier this decade or Lebanon in the 1970s, the New York Times reported on Friday.

But Venezuela, at one point Latin America’s wealthiest country, has not been shattered by armed conflict. Instead, economists say, the poor governance, corruption and misguided policies of Maduro and Chavez have increased inflation, shuttered businesses and brought the country to its knees.

And in recent months, the Donald Trump administration has tried to cripple it further by imposing stiff sanctions.

As Venezuela’s economy plummeted, armed gangs took control of entire towns, public services collapsed and the purchasing power of most Venezuelans has been reduced to a couple of kg of flour a month.

In markets, butchers hit by regular blackouts struggle to sell decomposing stock by sunset. Former labourers scavenge through garbage dumps for leftovers and recyclable plastic.

Dejected retailers make dozens of trips to the bank in hopes of depositing several pounds’ worth of bills made worthless by hyperinflation, the report said.

The crisis has escalated due to American sanctions intended to force Maduro to cede power to the nation’s opposition leader, Juan Guaido. The US sanctions on Venezuela’s state oil company have made it difficult for the government to sell its main commodity, oil.

Together with the American ban on trading Venezuelan bonds, the Trump administration has made it harder for Venezuela to import any goods, including food and medication.

Maduro blames the widespread hunger and lack of medical supplies on the US and its opposition allies – but most independent economists say the recession began years before the sanctions, which at most accelerated the collapse.

Venezuela has the world’s largest proven oil reserves. But its oil output, once Latin America’s largest, has fallen faster in the past year than Iraq’s after the American invasion in 2003, according to data from the Organization of Petroleum Exporting Countries.

It has lost a tenth of its population in the past two years as people fled, setting off Latin America’s biggest ever refugee crisis.

The country’s hyperinflation — expected to reach 10 million per cent this year according to the IMF — is on track to become the longest period of runaway price rises.

“This is essentially a total collapse in consumption,” said Sergi Lanau, Deputy Chief Economist at the Institute of International Finance, a financial trade association.

The institute estimates that the drop in Venezuela’s economic output under Maduro has undergone “the steepest decline by any country not at war since at least 1975”.

By year’s end, Venezuela’s gross domestic product will shrink by 62 per cent since the beginning of the recession in 2013, which coincided with Maduro coming to power, according to the institute’s estimates.

Source: Business Standard & The New York Times