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This Week in Doom June 25, 2018


That-Was-The-Week-That-W-That-Was-The-Week-473964gc2smFrom the keyboard of Surly1
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Originally published on the Doomstead Diner on June 25, 2018

“We have zero tolerance for people that enter our country illegally.”

 ― Donald J. Trump, June 20, 2018


This was a week for visceral outrage in the face of unspeakable human rights atrocities. The Orange Lout signed an executive order countering the effects of his previous decision separarting children and infants from their parents, then scattering them to the winds.  The Trump message, scrawled clear as day and quite literally on  the back of Melania Trump, was that the Trump administration could not care less. Independent artists, students, and even actor Jim Carrey, created striking visuals that surfaced on covers of TIME and the New Yorker. (See examples.) The U.S. withdrew from the U.N. Human Rights Council, Trump ordered the creation of a new Space Force. The gnomes running the Dow Jones Index removed General Electric, the last 19th century holdover, from its ranks. Open season on black Americans by cops continued, in an episode with personal relevance. 

In spite of the wholesale revulsion expressed by a distraught populace, over the weekend Donald Trump continued to use fear of MS-13 to justify his ‘zero-tolerance’ immigration policy, but only 180 of the 187,000 people apprehended at a major border crossing are connected to the violent criminal group.

It is essential to remember that Trump’s executive order was not a reversal or a capitulation. The administration’s “zero tolerance” policy, under which everyone crossing the border illegally, even those who present themselves as seeking asylum, is subject to criminal prosecution, remains in place. Only the kidnapping of children has been held in abeyance. For now.


Creating a Crisis

Time Magazine Cover, July 2, 2018 Edition New Yorker Magazine Cover, July 2, 2018 Edition          

In pursuit of his singleminded objective to control each day's narrative and the news cycle, thus to suppress his pending exposure of the world's largest money-laundering operation, the current White House incumbent doubled down on crazy. Trump’s inhumane "zero-tolerance" policy forcibly removed children, toddlers and babies as young as three months old from their immigrant parents attempting to enter the United States at our southern border, even those seeking asylum. The Trump ruling junta executed this policy in a move designed to outrage, to alienate, and most important, drive the name "Robert Mueller" from the front pages. Trump reverses course, signs order to keep families together

This heinous operation has been condemned by everyone from the Pope to Fox TV producers to foreign leaders like  Theresa May to top corporate CEOs like Apple’s Tim Cook to U.S. airlines (who learned they may have unwittingly transported such children to destinations hundreds of miles away from their parents.) 

The outcry and revulsion from kidnapping without due process, and incarcerating them in internment camp conditions caused schisms in the solid Republican Congressional majority. Even longtime GOP strategist Steve Schmidt threw in the towel.

“Make no mistake about it when you’re ripping breastfeeding children away from their mothers and putting them in detention facilities, that’s an evil policy. To see the Republican Party break up the way it has, to lose its moral compass, it is tragic. It’s tragic for me personally, but I won’t be part of it. I won’t share a party label with people who think it’s all right to put babies in internment camps. My fidelity is to my country, not my political party. Country first.”

The optics were terrible, and the sound was worse. News networks played the sounds of crying infants ripped from their mothers. Outrage mounted across the country, and burst into flame in Portland, where an Occupy-style protest shuttered the local ICE facility. Oregon Public Broadcasting:

“Demonstrators have also been camping outside the building and festooning the area with signs with slogans like “Kick out ICE” and “Will trade racists for refugees.” Two tents on Monday evening had increased to six by Tuesday morning. Twenty-four hours later, nearly 30 tents had been erected…

Tents line trolley tracks outside the ICE facility in Southwest Portland, Wednesday, June 20, 2018. Dirk VanderHart/OPB

“The encampment — largely grassroots, but supported by a coalition of local groups — also has a medical tent and a kitchen area overflowing with donated water and food.”

Classic Occupy. The facility reopened, but the backlash continued to grow. The policy credited to Goebbels cosplayer Stephen Miller started to smell like dead fish within 24 hours, and by Wednesday Trump had signed an executive order modifying his earlier decision.

Here is what the executive order does: It keeps families together, keeps them under DHS control, does nothing to reunite families already separated, seeks indefinite detention with a DOJ challenge to Flores v. Reno, a consent decree that limits government detention of immigrant children to 20 days. If successful, they’ll be able to hold families indefinitely. It enlists military facilities as concentration camps. It also blames Congress, since Congress failed to pass immigration legislation, leaving the administration no choice, even as it reversed course.

If these policies seem irredeemably cruel, and the characterization of would-be immigrants as "insects" and "vermin" spectacularly racist, remember that from the beginning, cruelty was the whole point.


Trump Administration Withdraws U.S. From U.N. Human Rights Council

On Tuesday, The FSoA withdrew from the world’s most important human rights body in protest of that body's frequent criticism of Israel’s brutal and genocidal treatment of Palestinians. In other words, for telling the truth. UN Ambassador Nikki Haley, that counter of sustaining votes, scrivener of dissenters and settler of scores, announced this latest effort by the Trump administration to withdraw and diminish those international organizations and agreements it finds unsuitable to the reward of cronies and punishment of opponents.

It was the first time a member has voluntarily left the United Nations Human Rights Council. With one deft foreign policy stroke, the US now joins other rogue states such as Iran, North Korea and Eritrea, as the only countries that refuse to participate.

“If the Human Rights Council is going to attack countries that uphold human rights and shield countries that abuse human rights, then America should not provide it with any credibility,” Ms. Haley said.

Human rights advocates denounced the decision. 

“All this administration seems to care about when it comes to the council is defending Israel,” said John Sifton, an advocacy director at Human Rights Watch “If the Trump administration’s complaint is that the council is biased and flawed, they’ve just made it more so.”

Prime Minister Benjamin Netanyahu of Israel welcomed the decision. “The U.S. decision to leave this prejudiced body is an unequivocal statement that enough is enough,” he wrote on Tuesday.

The withdrawal came as the administration faced worldwide condemnation from rights groups and governments. Your tax dollars at work. Done in your name.


Victory on Mars

On Monday, the floundering Orange Lout found yet another subject to which to attempt to change the subject from #TrumpRussia.

And this one is really bigly. He ordered the Pentagon to establish a stand-alone Space Force as a new branch of the armed forces.

"We are going to have the Air Force, and we are going to have the Space Force, separate but equal," Trump said at a meeting of the National Space Council at the White House.

"It is going to be something so important."

"Our destiny beyond the earth is not only a matter of national identity, but a matter of national security, so important for our military and people don’t talk about it," Trump said. "When it comes to defending America, it is not enough to merely have an American presence in space, we must have American dominance in space."

Of course, this order, like so many that bubble from the porcine lips of the Prevaricator-in-Chief, is patently illegal and meant to mollify his base of droolers and window-lickers. Establishing a new military branch requires congressional action and corresponding funding, as pointed out by Rep. Mike Turner (R-Ohio):

"Congress has asked DoD to study how we handle space. We still don’t know what a Space Force would do, who is going to be in it, or how much is it going to cost," Turner said. "After we get the report that we required as a legislative body and the president signed off on, then this issue can be appropriately evaluated for what’s best for national security."

But boy, it changes the hell out of a subject. At least for a news cycle.


And Stay Out!  GE Kicked To Curb, Last 19th Century DJI Member Removed 

General Electric added shame to suffering on Tuesday as overseers of the Dow Jones Industrial Average kicked the company out of the benchmark index it had inhabited for more than a century. GE will be replaced by Walgreens. The slippage is just another trailing indicator for what was once the world’s most valuable company.

“It was an issue not of if, but when,” said Quincy Krosby, the chief market strategist at Prudential Financial Inc. “The GE that was dominant in the Dow in the ’70s and ’80s is no longer the same GE.”

Down 26 percent, GE had been the Dow's worst performer in 2018, as it had been last year. Once an embodiment of American industry and managerial know-how, GE had arguably died some time ago. The DJI announcement was just the first shovel of dirt on an open grave.


State Terror Comes Home

Antwon Rose, 17, was shot and killed by police in East Pittsburgh, Pennsylvania. Nickole Nesby via the Pittsburgh Post-Gazette

 

On Wednesday, local police executed 17-year-old Antwon Rose in East Pittsburgh, PA. The boy was fleeing from a traffic stop and and unarmed when he was shot in the back by a cop who had been sworn onto the force mere hours earlier. This story had particular resonance for me because it happened on the next hill over from where I was raised, and I was visiting friends in the area when it occurred.

A bystander’s video showed the officer opening fire as Rose fled from police. In terms of seeking justice, video is the great equalizer. Video does nothing to stem the tide of summary executions of black Americans by rogue cops, but it marginally increases the likelihood of survivors successfully seeking accountability.  

According to the Allegheny County Police Department, police initially responded to reports of a shooting around 8:20 pm on Tuesday, finding a 22-year-old man who had been shot but was taken to the hospital and survived. Police put out a call for a vehicle that was seen fleeing the scene, and officers stopped a car that they said matched the description. While they were detaining the driver of the car, two people jumped out. An officer opened fire, killing a 17-year-old. 

The 17-year-old was Antwon Rose, a student at Woodland Hills School District, according to Shelly Bradbury and Andrew Goldstein at the Pittsburgh Post-Gazette.

Allegheny County Police Superintendent Coleman McDonough said Rose was unarmed, although officers found two guns in the vehicle he fled from.

The 20-year-old driver of the vehicle was released after he was questioned by police. The third occupant of the car remains at large.

A bystander captured a video of the police shooting and posted it on Facebook. It shows two people running away from police cars, with their backs to the officers, as police open fire. Multiple law enforcement agencies are investigating the shooting. 

On Wednesday night, four of us were driving to a pizza restaurant in East Pittsburgh, a favorite from childhood and adolescence. We'd been planning it all week. We drove east in what for Pittsburgh is a serious storm event, but in coastal Virginia is known as "rain." About half a mile from our destination, we came to a red light where several cop cars were parked, lights flashing. A large trailer truck was trying around in the intersection and reversing field. Another cop car drove toward us and against traffic, parked his car at a slant directly at us. WTF? I moved to turn around by moving to the left lane and asked a cop what the issue was. (This area had previously received national notoriety some weeks ago when landslides demolished houses and blocked PA Route 30, so another rain-induced landslide calamity was by no means out of the question.) The cop said people ahead were demonstrating. In a driving rain. I wondered what they could be possibly demonstrating about in such conditions, as we were not yet aware of the shooting.

We tried to reach our destination another way, by navigating through the rain-slicked streets of our old neighborhood and going back down the hill and approaching from the other direction. The cut-through I recalled from adolescence had been removed at some point in the past forty years. With no other recourse, we turned around and left. 

Only when we got back to my friend's house did I learned of the execution by cop. Antwon Rose was from all accounts a good, bright kid. He attended the same high school we did. The cop is reported to be being treated for "shock," a ruse doubtless from the police union manual on how to execute the unarmed black American without consequence. I expect he will be placed on "administrative (meaning paid) leave,"  and receive a vacation for several months, before his pro forma hearing and exoneration a la Ferguson, Cleveland, et al.

The demonstrations in East Pittsburgh have continued for at least four straight days.


Other short takes worth mentioning as they whiz by include the passing of conservative columnist Charles Krauthammer,  the introduction of retaliatory tariffs on US goods  by the European Union in an attack on Trump's trade war, Disney raised their bid for Fox assets to $71.3 billion in cash and stock, topping Comcast, Instagram hit 1 billion monthly users, SCOTUS punted on its biggest decision of its term so far regarding partisan gerrymandering, and a sporting event called the World Cup began group play.

Another week as we spin toward Seneca's cliff.


banksy 07-flower-thrower-wallpaperSurly1 is an administrator and contributing author to Doomstead Diner. He is the author of numerous rants, screeds and spittle-flecked invective here and elsewhere. He lives a quiet domestic existence in Southeastern Virginia with his wife Contrary. Descended from a long line of people to whom one could never tell anything, all opinions are his and his alone, because he paid full retail for everything he has managed to learn.

Trying to Stay Sane in an Insane World: Part 3

Off the keyboard of Jim Quinn

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Published on The Burning Platform on August 25, 2013

Cuckoos_Nest

Discuss this article at the Economics Table inside the Diner

In Part 1 of this article I documented the insane remedies prescribed by the mad banker scientists presiding over this preposterous fiat experiment since they blew up the lab in 2008. In Part 2 I tried to articulate why the country has allowed itself to be brought to the brink of catastrophe. There is no turning back time. The choices we’ve made and avoided making over the last one hundred years are going to come home to roost over the next fifteen years. We are in the midst of a great Crisis that will not be resolved until the mid-2020s. The propagandists supporting the vested interests continue to assure the voluntarily oblivious populace the economy is improving, jobs are plentiful, inflation is under control, and housing is recovering. Bernanke and his band of merry money manipulators, Obama and his gaggle of government apparatchiks, and their mendacious mainstream media mouthpieces have enacted radical measures in the last five years that reek of desperation in their effort to give the appearance of revival to a failing economic system. Stimulating the net worth of bankers and connected corporate cronies through engineered stock market gains has not trickled down to the peasants. Our owners try to convince us it’s raining, but we know they’re pissing down our backs. Our Crisis mood is congealing.

“But as the Crisis mood congeals, people will come to the jarring realization that they have grown helplessly dependent on a teetering edifice of anonymous transactions and paper guarantees. Many Americans won’t know where their savings are, who their employer is, what their pension is, or how their government works. The era will have left the financial world arbitraged and tentacled: Debtors won’t know who holds their notes, homeowners who owns their mortgages, and shareholders who runs their equities – and vice versa.” The Fourth Turning – Strauss & Howe – 1997

The core elements of this Crisis have been discernible for decades. The accumulation of private and public debt; the civic, moral, and intellectual decay of our society; the growing power of the corrupt corporate fascist surveillance state; growing wealth inequality created by crony capitalist skullduggery; the peak in cheap easily accessible oil; and global disorder caused by overpopulation, scarce resources, religious zealotry, and war; combine in a toxic brew of unimaginable pain, anguish and tragedy. The Crisis began in September 2008 and the sole purpose of the deceitful establishment has been to avert a catastrophe that is destined to extinguish the wealth, power and control they’ve treacherously procured over the last few decades.

The appearance of stability is illusory, as the civic fabric of the country continues to tear asunder. Record high stock markets do not trickle down. The debt engineered stock market gains enrich the .1% at the expense of the working class. Bernanke’s “wealth effect” theory is a charade. He has backed the country into a corner with no escape for the prisoners of his QE prison (he’ll escape to collect his Wall Street paycheck in January). He knows that without the combined $300 billion per month being pumped into the veins of zombie U.S., European and Japanese insolvent zombie banks by central bankers, the worldwide financial system will implode. He blathers on about tapering while awaiting the next government manufactured crisis to give him an excuse to continue or increase his money printing exercise. Control P is the only key on Bennie’s laptop. To think dropping trillions of dollars into the laps of Wall Street will somehow stimulate Main Street is beyond laughable. Some ideas are so ridiculous that only intellectuals and academics could possibly believe them.

The masters of propaganda seem baffled that their standard operating procedures are not generating the expected response from the serfs. They have failed to take into account the generational mood changes that occur during Fourth Turnings. Propaganda loses its effectiveness in proportion to the pain and distress being experienced by the citizenry. Goebbels’ propaganda enthused and motivated the German people during the 1930s as Hitler re-armed, scrapped the Versailles Treaty and took over countries, as well as when he was conquering Poland and France in the early phase of World War II. Propaganda didn’t work so well when the U.S. Air Force was obliterating Dresden, Hitler was hunkered down in his bunker about to put a bullet in his skull, and the Russians were on the outskirts of a burning Berlin. Propaganda works when the people want to believe the falsehoods. When the cold harsh reality slaps them in the face, propaganda no longer works.

    Propaganda Working Well                   Propaganda Not Working So Well

  

The American Empire propaganda machine continues to gyrate but the gears are getting clogged with the gunk of mistruths revealed. Even the willfully ignorant masses are beginning to realize they have been screwed by those running the show. After five years of debt bankrolled “no Wall Street banker left behind solutions” and Keynesian crony capitalist handouts, real median household income is 8% lower, there are 5 million less full-time jobs, there are 19 million more Americans on food stamps, gasoline prices hover near all-time high levels, health insurance premiums are skyrocketing, local, state and Federal taxes relentlessly rise, and the national debt has gone hyperbolic – up by $6.7 trillion in five years.

This 67% increase is more debt than the country accumulated in the 214 years from its founding in 1789 through 2003. The $6.7 trillion of new debt, along with Bernanke printing almost $3 trillion of new fiat dollars and handed to his puppet masters on Wall Street, have generated a pitiful $1.8 trillion of GDP growth. We know Main Street has not benefitted from this insane expansion of our empire of debt. But, someone benefitted.

Shockingly, those who profited from the actions of Bernanke, Obama, Congress, and the U.S. Treasury are the very same malevolent predators that created the financial disaster and prompted the emergency response in the first place. QE to infinity has not been a failure. It has done exactly what it was designed to do. In September 2008 every major Wall Street bank was insolvent. Orderly bankruptcy under existing law was the solution. The richest, most powerful men in the world would have seen vast amounts of their illicitly acquired wealth vaporized. Hundreds of billions in bad debt would have been written off, with no lasting impact on the average American. A brief violent depression would have ensued, but with the bad debt purged from the system and only prudent sensible bankers left, the economy would have rapidly recovered. Instead, a small cadre of financial elite hatched a plan to preserve their ill-gotten gains through accounting fraud, and manipulation of monetary and fiscal policy.

Bernanke and Paulson compelled the pocket protector wearing accounting weenies at the FASB to allow Wall Street banks to mark their assets to make believe rather than market. Bernanke then proceeded to buy up toxic assets from the Wall Street banks, providing a never ending flow of QE heroin injected directly into the veins of Wall Street bankers, and paying .25% on all deposits made by the Wall Street banks. Bernanke didn’t do this so the banks could make loans to John and Susie Q Public and small time entrepreneurs with great business ideas. He did it so Wall Street could repair their insolvent balance sheets on the backs of American taxpayers. The $2 trillion of excess reserves parked at the Federal Reserve by Wall Street banks is “earning” $5 billion of risk free profits for the Too Big to Trust autocrats. Wall Street has generated billions of additional accounting entry “profits” by pretending their future losses on worthless loans will be minimal. Lastly, the “Bernanke Put” allows the Wall Street traders to use their HFT supercomputers and advanced notice of economic data to front run the muppets and syphon billions of risk free trading profits from the real economy. The chart below reveals all you need to know about the true purpose of Bernanke’s QEfinity.

You’d have to be blind, deaf and dumb to not realize who Bernanke is really working for. But it seems the majority of people in this country don’t care, don’t understand or don’t want to know the truth, as long as the ATM keeps spitting out twenty dollar bills, there are still Cool Ranch Doritos on the shelf at the Piggly Wiggly, and the EBT card gets recharged on the first of the month.

“The mischief springs from the power which the monied interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which they have succeeded in obtaining…and unless you become more watchful in your states and check this spirit of monopoly and thirst for exclusive privileges you will in the end find that the most important powers of government have been given or bartered away….” ― Andrew Jackson

Parasite on a Parasite on a Parasite

  

“This is by no means a new idea, nor is it the least bit radical; it is deeply conservative and highly traditional. It was Aristotle who first defined the economy as an exchange of goods and services for money, commerce as a parasite on the economy (where those who create nothing extract a share by trading) and finance a parasite on commerce (which extracts a share by switching money from hand to hand – a parasite on a parasite). A typical US politician, such as the president, who counts financial companies such as Goldman Sachs among his top campaign donors, could be characterized as a parasite on a parasite on a parasite – a worm infesting the gut of a tick that is sucking blood from a vampire bat, if you like.” – Dimitri Orlov – The Five Stages of Collapse

The bastardized form of capitalism that passes for our economic system today is based upon a parasitic relationship between Too Big To Trust Wall Street banks, powerful mega-corporations, connected wealthy cronies, and bloodsucking politicians, with the American people as the debt bloated host. The parasites have put the host on life support in critical condition. It took forty years, since Nixon unleashed immoral bankers and devious politicians by decoupling our currency from gold, but the financialization and gutting of America through the false promises of globalization is almost complete. The quaint days of the 1950s and 1960s, when the country was supported by an economy that produced goods, invested in productive assets and citizens who saved money to buy things they desired, are long gone. The insane concepts espoused in the mid-1960s that created our current day welfare/warfare state required Americans to stop using their brains and start using their credit cards. The degenerate Wall Street banking cabal were thrilled to oblige by providing vast sums of debt to the government and the masses. Constant  war, uncontrolled materialism, and an ever expanding welfare state is the triple crown of profits for unscrupulous bankers and corporate CEOs. Once the inconveniant anchor of gold was cut loose by Nixon, the bankers and politicians were free to guide the U.S. Titanic towards its ultimate destination.

The decades long shift from a productive manufacturing society based on savings and investing in productive capital assets to a predatory consumption society based on borrowing and spending has enriched the Wall Street financial elite and destroyed the working middle class. An economy where 25% of its GDP was produced by manufacturing products allowed all boats to rise. A hard working middle class family had a chance to move up the social ladder. An economy where more than 20% of its GDP is dependent upon parasitical financial intermediaries that produce nothing and add no value creates the extreme wealth inequality we have in our society today. Only the yachts rise in such a society. The shift has been slow and methodical and we’ve crossed the point of no return. The propaganda being spewed by the mainstream corporate media and the connected crony capitalists like Jeffrey Immelt about a U.S. based manufacturing revival is designed to pacify the distracted masses. The pillaging by the FIRE sector will continue until the host is deceased.

The growth as a percentage of our GDP in business & professional services from 5% of GDP in 1970 to 12% today provides further evidence of a country in a downward spiral. The country wastes billions hiring “experts” (lawyers, accountants, consultants) to interpret the millions of pages of indecipherable laws, regulations and tax codes created by politicians used to control, monitor, tax and bilk the masses. The 3,300% increase in spending on healthcare and education since 1970 has created tens of millions of sickly functional illiterates. The corporate food conglomerates mass produce processed poison, Madison Avenue maggots peddle the poison to the masses through relentless Bernaysian propaganda marketing, creating nauseatingly obese human beings, and then the corporate healthcare conglomerates treat the dozens of diseases created by this insane process with their drugs, while corporate profits soar ever higher. We all know that superstar corporate CEOs like Jack Welch, Jamie Dimon, Angelo Mozillo, and Mark Zuckerberg deserve hundreds of millions in compensation for adding so much value to our everyday lives. How would we survive without a Best Buy credit card through GE Capital at 21% interest, or a JP Morgan created credit default swap sold to customers and then shorted, or a subprime negative amortization liar loan used to purchase a $750,000 McMansion, or having a place to post every inane thought we have so employers and the NSA can keep up to date on our status.

Corporate-Profits-GDP-081613

The corpulent populace have been so dumbed down by the public educational system run by social engineers and union teachers, along with the 24/7 corporate media propaganda inundating them since childhood, they are content to stare into their boob tubes, play with their iGadgets, or read what a friend of a distant relative ate for breakfast, on Facebook. The government provides enough welfare handouts to keep the increasingly larger lower classes from rioting by borrowing $1 trillion per year from future unborn generations. When the middle class shows signs of discontent regarding their declining wages and lack of jobs, the government and the military industrial complex use the bogeyman of impending terror threats and evil foreign dictators to wage undeclared wars and distract the willfully ignorant masses. Plus, there are always fantasy football leagues, paying $300 to take your family to watch drug enhanced millionaire baseball players not run out a ground ball at a $1 billion taxpayer financed stadium, shopping at a suburban ghost mall with one of your nine credit cards to dull the pain of a meaningless pathetic life, or watch eight year old Honey Boo Boo dress like whore and parade before adult judges on the Discovery Channel. Our choice to ignore the basic mathematics of our lives has resulted in creating a nation of sub-humans wandering through life like zombies in a bad horror movie.

“Anyone who cannot cope with mathematics is not fully human. At best, he is a tolerable subhuman who has learned to wear his shoes, bathe, and not make messes in the house.” ― Robert A. Heinlein

And we owe it all to the bankers and politicians that have procured undue influence over the political, economic, and financial mechanisms that control the country. The 2008 financial collapse, systematically created by the pathologically egomaniacal financial elite who are programmed to thrust their vampire squid blood funnels into every potential pot of untapped wealth in the world, should have led the American people to tear down their criminal enterprise and throw the treacherous predators into prison. Instead, the fearful masses begged the Wall Street bankers and the pandering politician flunkies in Washington D.C. to steal more of their money. The bankers won again.

“They have been able to pay off politicians with political campaign funds and have been granted informal and unspoken yet complete immunity from prosecution, setting the scene for even bigger confiscations of investor capital. With the risk of legal repercussions so small and the temptation to steal so large, why would any of them not take advantage? What do they have to do to stop people from entrusting them with their savings? Put up neon signs that say, “We steal your money”?” – Dimitri Orlov – The Five Stages of Collapse

This capturing of unwarranted power by an unelected group of rich powerful men through deceitful means has left the country at the mercy of these psychopaths as their increasingly desperate measures insure the ultimate destruction of wealth across the planet. There are four central bankers (U.S., EU, Japan, China) who are the front men for the oligarchs. They are empowered with control over 70% of all the money on the planet. Do you think they have your best interests at heart? The financial crisis was caused by excessive levels of debt, created to benefit the issuers of the debt and the politicians who used the debt to promise voters more goodies than they could ever possibly deliver. Those politicians would be long gone before the IOUs came due, but the promises got them re-elected and made them rich. The “solutions” put forth by our owners since 2008 to solve our debt crisis have been to create debt at an even more rapid pace. Total credit market debt in the U.S. has surged by $6 trillion since 2007 to $57 trillion, 345% of GDP (it was 150% in 1970). The entire world is awash in un-payable levels of debt as reckless central bankers and gutless politicians know only one response to every crisis they cause – PRINT!!!

The decline in U.S. household debt has been solely due to write-offs, as the bad debt was shifted from reckless households and gluttonous bankers to the government books, where those who prudently abstained from the debt orgy are now on the hook for trillions of newly created unfunded obligations. Despite a moribund economy, with the lowest percentage of the population employed since 1983, consumer spending tanking, interest rates rising, gas prices near record highs, and poverty levels at all-time highs, corporate profits are off the charts. It seems the “solutions” implemented by the Ivy League MBA financial elite bankers and bureaucrats have had the desired result – enrichment of the criminal class who financialized the nation. The establishment and their media propaganda machine have somehow convinced a vast swath of Americans to believe that record profits accruing to the largest corporations in the world and stock market gains accruing to the 1% are beneficial to their lives. It’s a testament to the power of propaganda that people can be convinced to cheer on their own downfall as they are dehumanized and enslaved by the plantation owners who run this country.

“Crime follows money like a shadow. The more money there is within a society, the greater are its social inequalities. Financialization dehumanizes human relationships by reducing them to a question of numbers printed on pieces of paper, and a blind calculus for manipulating these numbers mechanically; those who take part in this abstract dance of numbers dehumanizes others and, in turn, lose their own humanity and can go on to perform other dehumanizing acts. Money is, in short, a socially toxic substance.” – Dimitri Orlov – The Five Stages of Collapse

There is no more revealing statistic than real median household income to gauge the winners and losers from the financialization and dehumanization of America. The real median household income of $52,100 is still 8% below the early 2008 level of $56,600. It is still 5% lower than it was in 1999, before the Federal Reserve/Wall Street bubble blowing wealth destruction machine really got going. In fact, real median household income has only risen 9% in the last 35 years. Prior to that, most families could live comfortably with only one spouse working. I’d be remiss if I didn’t point out that these calculations are based on the fraudulently manipulated CPI figures which are understated by at least 3% per year. Using a true measure of inflation would reveal median household income to be lower today than it was in the mid-1960s. The bottom 80% have seen a decline in their standard of living since the mid-1960s as inflation has robbed them of purchasing power and the financial elite have skimmed the cream off the top of our economic system. The economic gains have accrued to the top 5%, with astronomical gains being amassed by the .1% ruling elite, who have rigged the game in their favor through laws written by their lobbyists, regulatory shenanigans, tax code manipulation, and buying off politicians. Thank you Bob Rubin, Larry Summers, and Phil Gramm for repealing Glass Steagall and stopping any regulation of financial derivatives. Where would the country be without those two courageous acts on your part?

Those in control of the system have succeeded beyond their wildest dreams as 72% of all the wealth in the US is held in the hands of 5% of the population, with 42% of this in the hands of the top 1%. The top 1% now “earn” over 20% of all the income in the U.S., a level exceeded only once before in the 1920s prior to the Great Crash of 1929 and ensuing Depression. During the heyday of middle class upward mobility, from 1950 through 1970, the top 1% earned 10% of all income. Today, the top 1% is dominated by debt peddling bankers creating derivatives of mass destruction, hedge fund egomaniacs in collusion with bankers to syphon capital away from productive ventures, mega-corporation job destroying executives, entertainment personalities, and shyster lawyers preying on the weak and feeble minded. Our insane society heaps accolades on these rich and famous narcissists, who add no value, produce nothing, create economic havoc, and drain the lifeblood from the dying carcass of a once great nation. The nearly extinct middle class owes their fate to the malevolent men that turned the country into a gambling casino of debt, derivatives, delusion and dreams of jackpots that will never materialize. The bankers and their cronies run the casino and the house always wins, as the chart below confirms.

wealth-change-epi

It is mind boggling that we have allowed ourselves to be brainwashed by the ruling class about the tremendous benefits of globalization, efficiency, productivity, and profitability. When academia, the mass media, and government leaders use their power and influence to convince the masses that ever higher mega-corporation profits benefit the well-being of the country, you end up where we are today. Globalization was nothing more than a scheme by our biggest corporations to use labor arbitrage as a way to increase profits. As American jobs were disappeared overseas to countries that allow slave labor conditions and wages, median household income declined.

The banking cabal stepped to the plate and convinced the increasingly poorer middle class to replace that lost income with easily accessible debt. Just whip out that credit card and use your house as an ATM and you still give the appearance of increasing wealth. You might be in debt up to your eyeballs but, by God, at least the neighbors would think you were doing great. Until the foreclosure sign went up in front of your house in 2009. The marriage of corporations outsourcing American jobs to China with consumer debt peddled by the predator banks was a match made in heaven until the country ran out of decent paying jobs, one in six people was on food stamps, and the average middle class family was drowning in debt. People are beginning to wake up to the fact that corporate efficiency and productivity means firing American workers, cutting benefits, and bigger bonuses for corporate executives as their stock price is boosted by the announcement of more layoffs. The country has been gutted by the predator class in their unquenchable thirst for more. Human nature never changes. Greed, desire, avarice and stupidity will always rear their heads, leading to predictable outcomes.

“Indeed, it had not – not when the nation’s most sophisticated corporate financiers and their accountants were constantly at work finding new instruments of deception barely within the law; not when supposedly cool-headed fund managers had become fanatical votaries at the altar of instant performance; not when brokers’ devotion to their customers interest was constantly being compromised by private professional deals or the pressure to produce commissions; and not when the style-setting leaders of professional investing were plunging as greedily and recklessly as any amateur.” – John Brooks

The psychopaths controlling this country have fashioned untenable financial conditions by further weakening an already structurally deficient economic structure that will result in an epic flood of financial destruction destined to destroy the lives of millions in the U.S. and around the globe. Those who put their faith in financialization and interconnected globalization will reap what they have sowed. We will all feast at a banquet of consequences. Encouraging central bankers across the world to print trillions of fiat currency out of thin air as the solution to our debt problem is the ultimate in idiocracy. The unsustainability of this scheme should be evident to even an Ivy League economist. But the dimwitted government apparatchiks, overeducated economists, greedy corporate executives, vacuous media talking heads, and intellectually dishonest journalists cheer on Ben Bernanke and his central banker brethren.

When you see a Bloomberg bimbo interviewing an Ivy League Wall Street economist about the tremendous merits of QE to infinity, you have a millionaire interviewing a multi-millionaire, with both working for corporations owned by billionaires. Their jobs depend upon the sustenance and further enrichment of the establishment. Therefore, they will lie, obfuscate and mislead their audience about the criminality of their bosses and the true consequences of these crimes against humanity. The existing hierarchy will not willingly surrender their control, power and illegitimately acquired wealth. Only the process of economic collapse, war and revolution will end their reign of terror.

We’ve seen it all before. The cycles of human history have provided us with centuries of proof that a few evil men can gain control over a civilization and procure an inordinate amount of wealth and power before ultimately relinquishing it due to their myopic pathological desire to acquire more. Powerful wealthy narcissists are never satisfied with what they have. Their arrogance and hubris will always be their downfall. Their foolish belief in their own omniscience reveals their true ignorance. Their enormous egos and confidence in the linearity of history blind them to their impending demise. Time is no longer on their side. A reckoning will happen within the next decade. Their gated communities and penthouse doormen will not keep them safe.

The American people cannot shirk their responsibility for this ongoing tragedy. The evil men could only pull off this bank heist with the silent consent of the governed. And that is exactly what has happened. The American people have been gradually persuaded through propaganda and fear to willingly give up freedom, liberty and self-responsibility for safety, security and government provided succor. Over the last forty years the Americans people have allowed themselves to be enslaved in debt by bankers, corporations and politicians, who realized all the riches, while binding the citizens in chains made of credit cards and mortgages. Now that the system has reached its breaking point and the further issuance of debt no longer generates the appearance of growth, the ruling class have resorted to more authoritarian measures, all done in the name of protecting us from phantom terrorists and evil dictators. It’s for the children.

Decisions about our economy are made in secret meetings by unelected officials and with sparse details announced with great fanfare by the corporate media. The President, with the full support of the military industrial complex, chooses which dictators are evil and which are good, with each being interchangeable depending upon the circumstances. The iron fist of American democracy attacks countries at will, without a declaration of war as mandated by the U.S. Constitution. Twenty five hundred page laws, indecipherable reams of regulations, and 60,000 pages of tax code are rammed down the throats of Americans without the benefit of even a debate. Each crisis caused by the previous government solution is met with more laws and regulations, designed and written by the very entities they were supposed to control. The farce of party politics is used to give people the appearance of choice, when there is not an iota of policy difference when the opposing party assumes power.

The people are told every situation is too complicated for them to understand and they should let the “experts” solve the problems. Every authoritarian measure used to control dissent among those capable of thinking is done in the name of national security. Edward Snowden is declared a traitor for revealing the traitorous actions of our own government, and the people silently consent. The head of the NSA is caught lying to Congress, and no one cares. The Department of Homeland Security locks down one of the biggest cities in America looking for a teenager and the people cower and beg Big Brother for more protection. The NSA and other secretive government agencies treat the 4th Amendment like toilet paper, and the people feebly respond by breathlessly texting, twittering and facebooking about Anthony Weiner’s cock. The U.S. military desensitizes the masses by conducting live fire exercises in American cities, and the people just change the channel to Bridezillas or I Didn’t Know I Was Pregnant.

Each new economic “surprise”; each new foreign “threat”; each new government “solution” is met with secrecy, spin, and no avenue for the people to impact the decisions made by our owners. The people no longer matter. They can’t change the course of the country through legal means or the ballot box because the system has been captured. It has happened before. The American people are under the mistaken impression we are free. That boat has sailed. Our economic, financial and political systems have been usurped by malicious men posing as gangsters in this saga. We have allowed this to happen. We mistakenly put our trust in bankers, academics and politicians and will suffer the consequences of our choices, just as the German people experienced during the last Fourth Turning.

“What happened here was the gradual habituation of the people, little by little, to being governed by surprise; to receiving decisions deliberated in secret; to believing that the situation was so complicated that the government had to act on information which the people could not understand, or so dangerous that, even if the people could not understand it, it could not be released because of national security.

Each step was so small, so inconsequential, so well explained or, on occasion, ‘regretted,’ that unless one understood what the whole thing was in principle, what all these ‘little measures’… must someday lead to, one no more saw it developing from day to day than a farmer in his field sees the corn growing…. Each act… is worse than the last, but only a little worse. You wait for the next and the next. You wait for one great shocking occasion, thinking that others, when such a shock comes, will join you in resisting somehow.” – Milton Mayer, They Thought They Were Free, The Germans 1933-45

In the fourth and final installment of this seemingly never ending treatise on a world gone insane, I’ll address how the disintigration of trust will ultimately lead to a collapse of the worldwide Ponzi scheme and how the collapse could lead to a rebirth of a society built upon family, community, cooperation, local commerce, compassion, freedom and liberty. I can dream, can’t I?

Knarf plays the Doomer Blues

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