Category Archives: Economics

The Cockeyed Crusade…, by Patrick Foy

The projection—a psychological term for imputing your own motivations and psychoses to someone else—of Europe and the U.S. towards Russia is off the charts. From Patrick Foy at lewrockwell.com:

By what deranged thinking did meddling in a civil war over territories that have been Russian for more than 300 years merit bringing the world economy to its knees and putting the living standards of publics throughout the West in greater peril than at any time since the 1930s?—David Stockman

I confess to being at wits’ end over the monstrous Ukraine affair and its ever-expanding dangerous ramifications. The war was concocted and contrived in Washington. This is Biden’s, Blinken’s and Nuland’s war—a cockeyed crusade to destabilize Russia.

German Chancellor Olaf Scholz was quoted in FT’s Weekend Edition of September 17th as stating, “We have known for a long time [my emphasis] that Russia is no longer a reliable energy supplier. That’s why it’s important to do everything we can now to safeguard Germany’s energy supply.” See Germany seizes Rosneft oil refineries. This claptrap sounds like something written for Biden’s teleprompter.

Would it not be more accurate and honest to say that Germany was no longer a reliable customer of Russian energy? Under Scholz, the German government, taking its marching orders from Washington,  has decided not to purchase Russian oil.  Ditto for Russian natural gas.

Russia has the goods; Berlin declines to purchase them. Fine. All right. Russia can sell elsewhere. Status quo ante. Start over.

Subsequently, this self-destructive and yet “unavoidable” decision—unavoidable according to Scholz—has been routinely gaslighted to Europe and America as a prime example of President Putin’s “weaponizing of energy”—when the exact opposite is true.

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The Disease Or Cure? Take Your Pick! by Dennis Miller

Most of the economic problems the U.S. faces can be traced back to the Federal Reserve. From Dennis Miller at theburningplatform.com:

Since I began my cancer treatment in 2019, my outside travel has been curtailed. Doctors, restaurants, and an occasional trip to visit family have been about it.

The good news is now I have more energy and feel like getting out and doing fun stuff. I recently made a trip to our local Factory Outlet Mall. I used to enjoy window shopping and eating in the food court. I was shocked, and unhappy with what I found.

The mall used to be full of cool stores, bustling with traffic. The photo is disheartening. I’d guess 40% of the stores are vacant. Stores closing, people losing jobs, landlords hurting, mortgage and bonds defaults are happening for the wrong reasons. It’s upsetting, but I realize there is not a damn thing we can do about it. We are on our own….

The Disease

Former congressman Ron Paul believes the cause of our economic problems is central banking:

“It is amazing that more individuals do not question the idea that inflation, recessions, unemployment, and booms and busts are necessary features of a sound monetary system. Even many otherwise staunch defenders of free markets maintain a child-like faith in central banking. …. These conservatives do not understand that the problem is the existence of a central bank with the power to manipulate the currency.”

Irresponsible politicians, coupled with central banking, is a cauldron for the economic problems we face today.

Academics believe in Keynesian economics. Keynes believed government spending should help thwart a bad economy and get it turned around. He also felt during good times, government revenue should exceed expenses and the surplus should be used to pay down debt.

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Doug Casey on the End of Western Civilization

And with what do you replace Western Civilization? From Doug Casey at internationalman.com:

End of Western Civilization

International Man: The decline of Western Civilization is on a lot of people’s minds.

Let’s talk about this trend.

Doug Casey: Western Civilization has its origins in ancient Greece. It’s unique among the world’s civilizations in putting the individual—as opposed to the collective—in a central position. It enshrined logic and rational thought—as opposed to mysticism and superstition—as the way to deal with the world. It’s because of this that we have science, technology, great literature and art, capitalism, personal freedom, the concept of progress, and much, much more. In fact, almost everything worth having in the material world is due to Western Civilization.

Ayn Rand once said “East minus West equals zero.” I think she went a bit too far, as a rhetorical device, but she was essentially right. When you look at what the world’s other civilizations have brought to the party, at least over the last 2,500 years, it’s trivial.

I lived in the Orient for years. There are many things I love about it—martial arts, yoga, and the cuisine among them. But all the progress they’ve made is due to adopting the fruits of the West.

International Man: There are so many things degrading Western Civilization. Where do we begin?

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Sustainable Debt Slavery, by Iain Davis and Whitney Webb

What’s sustainability all about? From Iain Davis and Whitney Webb at unlimitedhangout.com:

In this first instalment of a new series, Iain Davis and Whitney Webb explore how the UN’s “sustainable development” policies, the SDGs, do not promote “sustainability” as most conceive of it and instead utilise the same debt imperialism long used by the Anglo-American Empire to entrap nations in a new, equally predatory system of global financial governance.

The UN’s 2030 Agenda for Sustainable Development is pitched as a “shared blueprint for peace and prosperity for people and the planet, now and into the future.” At the heart of this agenda are the 17 Sustainable Development Goals, or SDGs.

Many of these goals sound nice in theory and paint a picture of an emergent global utopia – such as no poverty, no world hunger and reduced inequality. Yet, as is true with so much, the reality behind most – if not all – of the SDGs are policies cloaked in the language of utopia that – in practice – will only benefit the economic elite and entrench their power.

This can clearly be seen in fine print of the SDGs, as there is considerable emphasis on debt and on entrapping nation states (especially developing states) in debt as a means of forcing adoption of SDG-related policies. It is then little coincidence that many of the driving forces behind SDG-related policies, at the UN and elsewhere, are career bankers. Former executives at some of the most predatory financial institutions in the history of the world, from Goldman Sachs to Bank of America to Deutsche Bank, are among the top proponents and developers of SDG-related policies.

Are their interests truly aligned with “sustainable development” and improving the state of the world for regular people, as they now claim?  Or do their interests lie where they always have, in a profit-driven economic model based on debt slavery and outright theft

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CBDCs, SDRs, and the Re-Monetization of Gold, by Nick Giambruno

Banks and central banks relentlessly debase their fake money, they are setting the stage for the return of real money, gold. From Nick Giambruno at internationalman.com:

Central bank digital currencies

The current monetary system is on its way out.

Even the central bankers running the system can see that.

That’s why they are preparing for what comes next as they attempt to “reset” the system.

It’s important to emphasize that nobody knows what the next international monetary system will look like—not even the elites. However, they know what they want it to look like and are working hard to shape that outcome.

Next, I’ll examine their preferred outcome.

Plan A: CBDCs and SDRs

The new international monetary system the central bankers would prefer involves central bank digital currencies (CBDCs) and the International Monetary Fund’s Special Drawing Rights (SDR) replacing the US dollar as the world’s new reserve currency.

Despite all the hype, CBDCs are nothing but the same fiat currency scam with a new label on it—and zero privacy. They will make it even easier for the government to inflate the currency, and that’s what I expect them to do if they impose CBDCs on us.

However, it’s doubtful CBDCs can save otherwise fundamentally unsound currencies—as I believe all fiat currencies are.

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The Spoils of War, by Eamon McKinney

Europe’s elite kowtow to the U.S., but deprivation from the U.S.’s proxy war with Russia is pushing a lot of ordinary Europeans past the breaking point. From Eamon McKinney at strategic-culture.org:

In light of recent revelations the assumption that wartime plunder is only visited on “enemies” needs to be re-evaluated, Eamon McKinney writes.

“The spoils of war” normally refers to the plunder extracted from enemies during and after a conflict. However, in light of recent revelations the assumption that wartime plunder is only visited on “enemies” needs to be re-evaluated. While the Empire’s supposed “ally” Ukraine has already been lined up to be dismantled and pillaged by the Western financial powers post war, it seems as if the resources of the Ukraine will not be sufficient to satisfy the American Empire’s insatiable greed. A recently leaked document from American think tank, The Rand Corporation outlines clearly the next stage in the planned destruction of Europe, where friend and foe alike are fair game for the Cabal’s limitless avarice.

The Rand Corp was established in 1946, it is one of many such think tanks the U.S. establishment outsources its thinking to. Made famous by the “Pentagon papers” leak during the Vietnam war, its role in the planning, operation and continuance of that genocidal conflict left few in any doubt whose interests it serves. Funded primarily by the Pentagon, the U.S. Army and the Air Force, it claims that it is non-partisan, meaning that regardless of the incumbent political party, it serves the permanent government, the deep state.

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The Bear-Market Rally in Stocks, Bonds, Mortgages Wiped Out: Why This Nails the Parallel to the Dotcom Bust, by Wolf Richter

This is a debt contraction, and when debt contracts, assets prices go down. From Wolf Richter at wolfstreet.com:

But this time, there’s over 8% inflation.

The Dow Jones Industrial Average on Friday closed about 300 points below its June 16 low, thereby having more than wiped out the bear-market rally gains. For the Dow, the bear-market rally started on June 17 and ended on August 16. During the two-month rally, the Dow had jumped 14%. By Friday at the close, it was again down 20% from its all-time high.

The S&P 500 Index, on Friday intraday, fell through its closing low of June 16 – the infamous 3,666 – and then bounced a little to close 27 points above the June 16 low, at 3,693. During the two-month bear-market rally through August 16, the index had surged 17%. By Friday, the index was down 23% from its all-time high.

The Nasdaq closed about 2% above its June low. During the two-month rally, it had soared by 23%. Many of my Imploded Stocks that are now trading for a few bucks, had shot up by 50% or more, and a bunch of them doubled, before re-imploding after mid-August.

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“Environmentalism” vs. Conservationism, by Eric Peters

Conservationism is just good sense. “Environmentalism” has become a trendy fad that encourages you to spend a lot of money on things like electric cars. From Eric Peters at ericpetersautos.com:

 
 

Before there was “environmentalism” there was conservationism. The latter being about not wasting stuff. That it was better to save than to spend – for the “environment” as well as your wallet.

Conservationism lost out to “environmentalism” chiefly because there’s no money in the former as opposed to the latter. Or rather, less. That goes for carbon dioxide, too.

An example will suffice to make the point.

There is not much money – for the the car manufacturers, the insurance mafia and the government – in you keeping an older, paid-for car going. You are not making payments on the car. You are making smaller payments – in “premiums” and taxes – the insurance mafia and government.

This is why they want you out of your old car – and into a new EeeeeeeeeVeeeee.

The car companies are all-in because they see EeeeeeeeVeeeees as a way to end the problem (for them) of selling people a new car once every ten (or even 15 or twenty) years and there being an abundance of sound used vehicles available that enable many people to avoid ever having to buy a new car – rather than renting all of them a new EeeeeeeeeeVeeeeee, with payments made on it every month without end.

EeeeeeeeVeeeeees facilitate that goal because they are fundamentally disposable, like a smartphone. You get a new one every so often. Most people never own one. They pay the fee and they get to use one.

It is not very  . . . environmental.

Think of the landfills filled with throw-away smartphones – most of them not more than five years old. Contrast that with the hard-line wall phones that people used to have in their homes. These regularly lasted generations. If you were a kid in the ’60s or ’70s, it is probable the phone on the wall in the house you grew up in was still on the wall when you came back home to visit your parents in the ’90s. It is probably still on the wall, today.

Which is better for the “environment”?

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This Is the Way the World Ends, by James Howard Kunstler

Stocks are diving and more importantly, interest rates are climbing. Together, the portend an economic crisis. From James Howard Kunstler at kunstler.com:

That “singularity” so many blab about is not what they think it is: the merging of human intelligence with Bill Gates’s Office products, leading to an orgasmic nirvana of infinite memoranda from your HR department concerning new diversity, inclusion, and equity policy. Rather, I speak of the magic moment when the necromancers of finance discover that the proverbial can they’ve been kicking is filled with Schrödinger’s cat food… and the road they’ve been kicking it down actually comes to a dead end up their own highly-credentialed wazoos. Economics will never be the same hereafter.

The bond market has gone south, and that spells The End for the great game of financialization. The bond market is Moby Dick compared to the little blowfish that is the stock market. The global money system is based on bonds, which are… what? That’s right: loans… promises to pay you X at some future moment. So, what happens when a daisy-chain of promises-to-pay gets broken? Or, perhaps more precisely, when all those promises lose their last shred of plausible reality? Why, the money that these broken promises are denominated in loses its essential cred. Trick question: how much is worthless money worth? (Answer: not enough to pay for a can of Schrödinger’s cat food.)

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As Democracy Dies in the EU, Von der Leyen Reveals its Sins, by Tom Luongo

The nothing democratic or even autocratic about the EU; it’s essentially a dictatorship. From Tom Luongo at tomluongo.me:

It’s no secret at this point that the EU is an anti-democratic organization. The leadership isn’t elected, but selected from a pre-determined pool of candidates from within the Party structure.

Everyone with the power to make a decision was placed there not by popular vote but by backroom collusion.

As we approach this weekend’s Italian elections there is real despair in the air that there is any light out of this dark time. That no matter what decisions we try to make, they are only in service of those that seek total dominion.

And yet all you hear from these Eurocrats is that we are in a “war of Democracy versus Autocracy,” as EU Commission President Ursula Von der Leyen put it in her hellish EU state of the union address to the European Parliament recently.

Cloaking herself in the inverse of the EU flag’s colors to show solidarity with another anti-democratic regime, Ukraine, Von der Leyen and her merry tribe of vandals in Brussels cast themselves as the protectors of the sacred right of a ‘democracy’ they deny to anyone who disagrees with her.

The same can be said for nearly every major government in Europe. Every time an ‘election’ rolls around the local system is gamed to ensure a particular outcome. The political establishment always coalesces around maintaining the status quo, freezing out any possibility of an ‘unworkable’ or ‘representative’ coalition.

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