Category Archives: Economy

Spending it Forward? By Eric Peters

A strong argument can be made that it’s a good time to convert fiat debt instruments into actual, tangible things. From Eric Peters at ericpetersautos.com:

It’s hot outside, but I am splitting and stacking firewood – in anticipation of when it gets cold, not too many months from now. More precisely, I am stockpiling wood as a fallback – in the event the power goes out this fall. A not-unlikely event, given the “electrification” of everything. Also as an alternative, in the event the cost of propane rises beyond the constantly diminishing purchasing power of the currency we’re all forced to us to buy such things with.

But it is also a hedge.

The wood being more than just a source of heat – both to keep us warm and (should it become necessary) a way to heat food and even water, so as to  keep us clean. It is also a way to store the value of currency before it dissipates further.

Much better than a bank. Or rather, it is the best kind of bank there is.

The wood is a tangible asset, directly under my control. It can be withdrawn at any time and without even having to show ID. I can withdraw as much of it as I like, whenever I like, without having to worry about the transaction causing unwanted scrutiny. And – most of all – it will still be in my “account” come winter, even if the banks decide to lock my accounts with them, over something I wrote or said.

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America Is More Fragile Than the Left Understands, by Victor Davis Hanson

Ayn Rand said the U.S. was more fragile than it looked . . . back in 1957. She also had a pretty good idea of why that was so. Writers and commentators have recycled her arguments for years, usually without attribution and usually without delving into deeper causes. Victor Davis Hanson does the same, but this article won’t take you as long to read as Atlas Shrugged. At least he cited Adam Smith. From Hanson at amgreatness.com:

Like a stunned adolescent whose reckless incompetence totaled the family car, the Left seems shocked that America proved so fragile after all.

“There is a great deal of ruin in a nation.”
— Adam Smith

The Left has been tempting fate since January 2021—applying its nihilist medicine to America on the premise that such a rich patient can ride out any toxic shock.

Our elites assume that all our nation’s past violent protests, all its would-be revolutions, all its cultural upheavals, all its institutionalized lawlessness were predicated on one central truth—America’s central core is so strong, so rich, and so resilient that it can withstand almost any assault. 

So, we can afford 120 days in 2020 of mass rioting, $2 billion in damage, some 35 killed, and 1,500 police injured. 

We can easily survive an Afghanistan, and our utter and complete military humiliation. There was no problem in abandoning some $70-80 billion in military loot to terrorists. Who cares that we tossed off a billion-dollar new embassy, and jettisoned a $300-million refitted air base, as long as our pride flags were waving in Kabul?

Certainly, we can afford to restructure all our universities, eliminate free expression and speech, and institute Maoist cultural revolutionary fervor in our revered institutions of higher learning—once the world’s greatest levers of scientific advancement and technological progress. 

We can jettison merit in every endeavor, from banning the world’s great books to grading math tests to running chemistry experiments. And still, a resilient America won’t notice.

We assumed that our foundational documents—the Declaration of Independence and the Constitution—our natural bounty in North America, our cherished rule of law, our legal immigration traditions that drew in the most audacious and hardworking on the planet, and our guarantees of personal freedom and liberty led to such staggering wealth and affluence that nothing much that this mediocre generation could do would ever endanger our resilience.

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Another Food Processing Plant Shutters Operations, Adding To Long List Of Closures, by Tyler Durden 

This is getting weirder and weirder, and there’s something nefarious and sinister behind it all. From Tyler Durden at zerohedge.com:

A top food processing plant will be closing down one of its facilities in Campbell County, Tennessee, adding to the long list of closures over the last year.

George’s Prepared Foods announced its chicken processing plant in the small town of Caryville would be shuttering operations by the end of the summer.

The reason for the closure was not disclosed and has caught local officials by surprise. Campbell County Mayor E.L. Morton told local news WVLT that he’s trying to keep the plant open to save hundreds of jobs.

“I have contacted the Tennessee Economic and Community Development staff to request assistance in keeping the plant open or facilitating a sale to another operator

“I have requested Governor Lee’s assistance as well. My primary concern is for the welfare of the dedicated workers who have been the backbone of this operation. Our prayers go out to them as well as our very best efforts to keep them employed in Campbell County,” Morton said.

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Anatomy of a Philanthropath: Dreams of Democide & Dictatorship, by Margaret Anna Alice

Part Two of Margaret Anna Alice’s study of the psychopaths who want to rule the world. From Margaret Anna Alice at margaretannaalice.substack.com:

Part 2: Downloadable Digital Dictatorships

This is Part 2 of Anatomy of a Philanthropath. Read Part 1: A Mostly Peaceful Depopulation for context:

Margaret Anna Alice Through the Looking Glass
Anatomy of a Philanthropath: Dreams of Democide & Dictatorship
“Tyranny is a habit which may be developed until at last it becomes a disease. I declare that the noblest nature can become so hardened and bestial that nothing distinguishes it from that of a wild animal. Blood and power intoxicate; they help to develop callousness and debauchery. The mind then becomes capable of the most abnormal cruelty, which it reg…

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Anatomy of a Philanthropath: Downloadable Digital Dictatorships; Person Trapped Inside Screaming to Get Out

“Regulation mania, as manifested in government bureaucracy, attempts to render social interactions rational and logical by squeezing them into performed templates. In this respect, the ideal bureaucrat is identical to a computer. They strictly adhere to the logic of their system without being ‘distracted’ by the individuality of the people they ‘assist.’ For this reason, a bureaucratic system generates exactly the same frustration as a computer. We are confronted with a mechanical Other who is in no way sensitive to our individuality as human beings. A computer is not so much an unfair or unjust Other; it is an Other who imposes a relentless logic.… In this respect, the computer resembles the ideal totalitarian leader: He strictly and ruthlessly imposes his logic on the population.”

—Mattias Desmet, The Psychology of Totalitarianism (Kindle, hardcover, audiobook, audio CD)

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How Bad Will the Food Shortage Get? by Dr. Joseph Mercola

If you haven’t already, start stocking up. From Dr. Joseph Mercola at theburningplatform.com:

food shortage 2022

Story at-a-glance

  • It’s becoming increasingly clear that severe food shortages are going to be inevitable, more or less worldwide, and whatever food is available will continue to go up in price
  • The cost of agricultural inputs such as diesel and fertilizers is skyrocketing due to shortages — caused by a combination of intentional and coincidental events — and those costs will be reflected in consumer food prices come fall and next year
  • Mysterious fires, alleged bird flu outbreaks and other inexplicable events are killing off livestock and destroying crucial infrastructure. Since the end of April 2021, at least 96 farms, food processing plants and food distribution centers across the U.S. have been damaged or destroyed
  • The global food price index had risen 58.5% above the 2014-2016 average as of April 2022, due to a convergence of post-pandemic global demand, extreme weather, tightening food stocks, high energy prices, supply chain bottlenecks, export restrictions, taxes and the Russia-Ukraine conflict

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BlackRocking . . . by Eric Peters

As homeowners become involuntary renters, the homeowners who are left will end up subsidizing those rents. From Eric Peters at ericpetersautos.com:

 

Why are billion-dollar “capital” entities like BlackRock buying up hundreds of millions of dollars of formerly privately owned homes? It may be possible to divine the answer by looking at another number:

The millions of people on the cusp of being evicted from the places they rent.

According to the U.S. Census Bureau, there are some 6.7 million of these people – who’ve had their rents increase by $250 per month, on average. The majority of these people earn less than $25,000 annually – and all of them have had the buying power of whatever they earn reduced by about 15 percent, via what is styled “inflation,” in order to make the victims of it think that the things they need to buy or pay for (like rent) cost more. In fact, their money just buys – and pays for – less.

Many of these renters have had their rent subsidized as part of what was styled “pandemic” relief,” an odd way of putting it since the “pandemic” didn’t force anyone to stop working (or hiring workers).

Rather, it was the government that did it.

The same government also told landlords they could not evict renters who weren’t paying rent. Which meant that landlords were being forced by the government to pay their rent – via the cost of paying the property taxes the government didn’t hold in abeyance, as well as all the associated carrying costs of owning a rental property – including the monthly mortgage payment.

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The Entire World Order Has Changed, by Raúl Ilargi Meijer

Are we seeing the death knell of the West and the emergence of a multi-polar order? From Raúl Ilargi Meijer at theautomaticearth.com:

It was Jim O’Neill, Goldman’s chief economist at the time, who coined the term BRICS in 2001 for Brazil, Russia, India, China, and South Africa. Little did he know. He was talking about emerging economies. 13 years later, they no longer are. They are good for about 40% of the world population, and some 25% of global GDP. The world has not stood still since 2009, and it’s moving faster now.

Ironically, the BRICS countries never looked to be as prominent economically as they are today, they were happy to build up one step at a time. But then NATO decided to move east at a pace that Russia found intolerable, and now the BRICS have taken on a whole new meaning. 25% of global GDP may not seem that much, but the 5 countries hold a much bigger share of -essential- global resources and/or raw materials than that, and China moreover delivers an outsize part of finished products.

And we now know that they won’t be BRICS for much longer. Many countries choose to be affiliated, in one form or another, with the BRICS rather than the “west”. They see that Russia is winning in Ukraine, and they see the damage the sanctions do. It’s just practical considerations. Saudi Arabia and Argentina are interested in joining BRICS. So are Uruguay, Iran, Egypt, Thailand, and a number of post-Soviet States. They see where the real economic power resides.

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The Age of Discord, by Charles Hugh Smith

We’re sure not living through the Age of Sweetness and Light. From Charles Hugh Smith at oftwominds.com:

It’s very difficult to find common ground that supports cooperation in the disintegrative stage of scarcities, rising prices, catastrophically centralized power and social discord.

Today’s topic echoes Peter Turchin’s 2016 book, Ages of Discord, which I have often referenced in blog posts.

I’ll also discuss two other books I’ve often referenced, Global Crisis: War, Climate Change and Catastrophe in the Seventeenth Century by Geoffrey Parker and The Great Wave: Price Revolutions and the Rhythm of History by David Hackett Fischer.

Turchin proposes repeating cycles of history of social integration (people finding reasons to cooperate) and disintegration (people finding reasons to not cooperate).

Clearly, we’re in a disintegrative stage.

Fischer proposed a repeating cycle of history in which humans expand their numbers and economy to consume all available resources.

Once all the low-hanging fruit has been consumed, scarcities arise, pushing prices above what commoners can afford, and the result is economic stagnation and social/political revolution.

Either humans exploit a new energy source at scale to provide for the larger population and higher consumption per person, or the population and consumption decline to fit available resources.

Parker covers the mutually reinforcing climate, political, social and economic crises of the 17th century. A long cycle of cold, wet summers reduced crop yields, leading to hunger and strife.

Parker also identifies another cause of the tumultuous, war-plagued 1600s: political leaders had consolidated too much power, enabling them to pursue disastrous wars without any restraint from competing domestic social-political interests.

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The Illinois Political Establishment’s Shameful Response To The Departure Of Ken Griffin And Citadel – Wirepoints, by Mark Glennon

In their arrogance, Illinois leaders are disparaging a business leader who’s leaving the state and taking his business with him. From Mark Glennon at wirepoints.org:

On a wall in Ken Griffin’s office at Citadel in Chicago, I’m told by people who worked there, hangs a thank you note from a six-year old. Like many kids that age, he was enthralled by prehistoric creatures so he wrote to thank Griffin for funding Evolving Planet, a permanent wing in Chicago’s Field Museum.

The six-year old was my son, who asked if he could write it after my wife had taken him for what must have been the fifth time to the exhibit.

I was proud that he had the simple decency to feel a need to thank somebody.

I wish I could say the same about the Illinois political establishment’s send-off to Griffin and Citadel, who are leaving for Florida. There was no decency in any of it.

Griffin is among the most successful financial entrepreneurs in history and Citadel was a crown jewel in Illinois’ economy. But the decency of a proper send-off was nowhere to be found in Illinois’ leadership. There wasn’t even the standard, “we’re disappointed to see them go,” which they usually say about corporate departures. Just a kick out the door for a golden goose.

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In Defense of the West: ‘White Supremacy’ and ‘Anti-Asian Attacks’ Debunked, by Ben Bartee

There is a substantial group out there that thinks the most relevant attributes of a person are race and ethnicity, two factors over which no human being has any control. From Ben Bartee at thedailybell.com:

The “white man bad, muh white supremacy” narrative is out of control. It is ultra-simplistic, tribalistic, and panders to the lowest-common-denominator.

MSNBC, Huffington Post et al. would have you believe there’s a racist, misogynistic Klan goon lurking behind every corner, lying in wait under every vehicle, waiting to pounce on his next Person of Color© hate-crime victim. And the “white supremacy” spectre has a special thirst for members of the Asian American and Pacific Islander© (AAPI ©) community.

(Ironically, the acronym alphabet-soup term “AAPI,” the product of diversity-obsessed academics, is itself over-simplistic and prejudicial – some might even say “racist” – as it groups together heterogeneous ethnic identities as disparate as Mongolians and Guamanian into a single category.)

The “racist-whites-beating-Asians-in-the-street” pandemic narrative is now ubiquitous. It just one in a rolling list of Social Justice© “current things”–essentially the follow-up to Russiagate and the predecessor to the Jan. 6th “insurrection against democracy.”

Without necessarily diving into statistics, the “white supremacy anti-Asian” crisis of the corporate media should arouse the audience’s suspicion.

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