We’re twenty percent into the 21st century and it hasn’t been a great start. From Bill Bonner at rogueeconomics.com:
Week 26 of the Quarantine
In this bright future, you can’t forget your past.
– Bob Marley
SAN MARTIN, ARGENTINA – What a colossal flop!
We’re talking about the 21st century. A failure in almost every way.
We now have 30 million people on unemployment – nearly 20% of the labor force.
We have a budget deficit of nearly 20% of GDP.
And, despite already spending $2 for every $1 they collect in taxes, the feds are planning to spend more.
We have phony “conservatives” waving the flag… and real radicals trying to tear it down. On both sides are more and more loonies, locked and loaded…
Even many of our own dear readers are ready to go to war with each other. This is from yesterday’s mailbag:
Hey Dude, we are at WAR! Trump leads the Win-the-War Party! The Neo Repubs are the “What? Me, worry?” Party. And you are like the pet dog nipping at the heels of the soldiers marching past!
No matter the cost, we must win the war against socialism and the Ds. There is time enough to purify ourselves after we win! If we lose, it will be a “thousand years” before our experiment is tried again… Meanwhile it is your obligation to support those who are fighting, regardless of technique and strategy… TRUMP!
It is hard to figure out how an administration that declares a moratorium on rent collection, stifles free trade, and runs a deficit of 20% of GDP could save us from socialism… But in this great 21st-century future, wonders never cease.
This week, in this “new normal,” we’ve been trying to remember what the “old normal” was like. And was it really better? Or is it just us?
We recalled what it must have been like when we were born. Of course, it was a very different world back then.