Kim Kardashian

The Year in Doom 2014

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Originally published on the Doomstead Diner on January 4, 2014

Discuss this article here in the Diner Forum.


I have always thought that in revolutions… madmen, not those so called by courtesy, but genuine madmen, have played a very considerable political part. One thing is certain, that a condition of semi-madness is not unbecoming at such times, and often even leads to success.
― Alexis de Tocqueville (1805 – 1859)


In each year’s end, and in a condition of semi-madness, it is the habit of the commercial press to generate various lists of “the year’s top stories.”  The top ten this, the top 14 that… Lindsay Lohan’s Top Ten excuses for failing rehab, the Top Five reasons Charles Koch likes slavery as a business model for the 21st century, the Top 77 views of Kim Kardashian’s ass… These lists are legion.  And if you’ve read this far, you’ve stepped right in one. For this is my personal whack at the year-end pinata.

With this modest compendium, we will not attempt to tell you what is important;  the mainstream media can lie to you about that. What follows here is my highly idiosyncratic take on those news events which have contributed to a sense of impending collapse speeding us along on the road to doom. A word about methodology: not worth considering. I asked for some feedback, then picked what seemed right. That’s it.  Basic assumptions are that to the extent that an issue is reported in the MSM,  whatever we’ve heard is state propaganda, thus wrong.  The rest is my idiosyncratic take; blame no one else, aside from those indicted by hyperlinked citations.

Madness is in the air,  whether from the madmen of ISIS or Foggy Bottom, Ferguson or New York City. Readers of “doomer” blogs do so with a shared sense that “something ain’t right.”  A pervading sense of unease,once marginal and seen only among survivalists and conspiracy theorists, has gone mainstream. Witness dystopian threads that run through literature and mass media, from World War Z to Doomsday Preppers. Now even the Weather Channel has a series called, “Fat Guys In The Woods.” (It’s just what you think.) It illustrates vividly how far most of us are from knowing how to survive in the wild, let alone transition to a “sustainable” lifestyle. As writer Tom Lewis recently told me, “If my ability to live depended on my skills in sustainable living, I’d be dead.” Like most of us.

 

Kim 2

This was the year that Paper Mag and Kim Kardashian determined they would “break the Internet.” with a photo spread of naked and near-naked Kim flesh. Not quite. Many men dropped in to see what all the furor was about. (I just read the article.) The reigning queen of social media and Instagram selfies continued being curvily famous, and social media continued to wag the media dog.   Zero Hedge published a year-end article about the most important US events according to Twitter:

When it comes to social networks, Instagram is where the world’s best food photographers reside, Facebook is where “cool parents” and ad-clicking robots can be found, while Twitter is where the up to the minute super-informed, sophisticated intelligentsia hides. At least according to Twitter. So what did said sophisticated audience find to be the most important and talked about American events of the year?  The top 10 US stories of 2014 were:

  1. Ferguson
  2. Midterms
  3. Ebola
  4. Israel
  5. Iraq
  6. Russia/Ukraine
  7. Sterling/Clippers
  8. Guns
  9. Obamacare
  10. Marijuana

As you see, this Twitterlist falls off quickly in terms of doom potential. Let’s pass on the mounting list of war crimes committed by the Zionist Apartheid State against Palestinians, and I have a decidedly minority view when it comes to l’affaire Sterling, about which I could otherwise give less than no f*ck. (Sterling was recorded in secret, and under circumstances in which he might have had an expectation of privacy, had we not willingly surrendered that quaint 18th century expectation along with the right to search our DNA, bodily fluids and credit reports to Corpstate™. This concern was brushed aside in the haste to publicly pillory and shame an egregious racist.) As for the others, don’t care, don’t care, and it’s about damned time.


Ferguson/Police Militarization/”Wartime Policing”

Ferguson has become a metaphor for the militarized state, for open season on black males, with apparent no bag limit for the Boys in Blue.   Ferguson is not just about Michael Brown, but also, Kajeimi Powell, Eric Garner, John Crawford, Tamir Rice and countless others who have been executed with impunity and no fear of consequence by agents of the militarized state. And now we have the specter of the New York Police Department declaring that they will engage in “wartime policing.” So many words have been expended about this phenomenon, that we will leave analysis in more capable hands.  It seems to me that the reaction of the police, and a large segment of law and order-worshiping ordinary citizens, is really about the conflict between the egalitarian impulse and the authoritarian impulse. Every time someone says, “if you would just do what the police tell you to, you would have no problem,” lingering notions of individual autonomy and justice die another death.

What the cops pictured above who turned their back upon the mayor are doing is the moral equivalent of throwing a tantrum. They have traduced legitimate protest and have staged a “work slowdown” to justify the delusional narrative that no cop, anywhere, should ever be at fault for anything. Localities all across the country, including my own, are staging their own “blue lives matter” rallies in support of “victims” that do not exist, except in their own minds. Meanwhile, this.

Charles Pierce conflates police authoritarianism and recent release of the CIA torture report with  proper perspective:

If the NYPD runs a slow-motion coup against the freely elected mayor of New York, then it is running a slow-motion coup against all the people of New York. There is no exemption from this fundamental truth about the way this country and its system is supposed to work. The military — and its civilian analogues in Langley and in the precinct houses — always is subordinate to the civil power which, no matter how much it may chafe them, means that they always are subordinate to politicians. If we render our torturers superior to the political institutions of the government, and if we render the police superior to the civil power of elected officials, then we essentially have empowered independent standing armies to conduct our wars and enforce our laws, and self-government descends into bloody farce.

But, alas, in the past few weeks, we have shown ourselves to be relatively at peace with that very thing — as long as the torture is done in the prisons overseas and the judicial killing is done in the streets of the ghetto, and as long as our fear of some omnipotent Other is what drives our politics. In turn, and in its mind, the country has now turned peaceful mass protest into some sort of violent revolution, and it has converted the murderous rage of a criminal lunatic into the ultimate expression of the cries for justice that have been heard in the last month in Ferguson, and Cleveland, and on Staten Island…The last thing to go to the waterboard is the tattered remnant of what we thought ourselves to be.

Both appear to be a manifestation of the undercurrent of authoritarianism in American culture — a deference to authority figures supposed to “protect” us, otherwise at odds with the libertarian impulse currently in ascendant. Likely we never were “the people we thought ourselves to be.”  The police slowdown in NYC has given threadbare hack Rudy Giuliani yet another chance to emerge as chief defender of murderer cops, and thus give voice to the authoritarian impulse in American politics. In any event, “wartime policing” underlines an escalating separation along race and class lines.  And reminds of financier Jay Gould’s famous dictum, “You can always hire half of the working class to kill the other half.”


 

Climate Change

It was a year of the Super Typhoons, polar vortexes, continued warming and devastating drought.  2014 recorded the warmest year on record globally, leaving some to wonder whether 2015 may be the year nations finally act to reduce greenhouse gas emissions.

2015 is the year of the Paris meeting to develop the next international agreement. It promises to be a big year for more talk at a variety of levels. Rising heat has led to changes in weather patterns that are of such overriding importance that Pope Francis plans to urge Earth’s Catholics to take action on global warming via a rare papal encyclical,  “urging all Catholics to take action on moral and scientific grounds.”

This is a very big deal:

One is that encyclicals are published on issues of high priority to the Pope, and what’s high priority to him is high priority to the church. There are more than a billion Catholics on the planet, so this could have a profound effect.

Another reason is that, also according to the Guardian article, he is doing this to directly affect the outcome of a very important meeting late in 2015: The United Nations Framework Convention on Climate Change will meet, and their express intent is to create a legally binding global agreement about actions to take on climate change.

GOP outraged.  It didn’t take long for the Koch brothers to stand up one of their stooges to warn off the Pope.

Calvin Beisner of the Cornwall Alliance, a Religious Right group that specializes in promoting pollution,and which has declared the US environmental movement to be “un-biblical” and a false religion, has been well-paid by the Kochs and other polluters to say things like this[to believe in climate change] “really is an insult to God … and it will eventually lead to tyranny.”

The pope should back off,” he said. “The Catholic church is correct on the ethical principles but has been misled on the science. It follows that the policies the Vatican is promoting are incorrect. Our position reflects the views of millions of evangelical Christians in the US.”

2015 was filled with evidences of a changing climate not to the betterment of humankind. It was a year of unparalleled drought, heat, and ice, perhaps a harbinger of a tipping point on climate. From Greenland to Antarctica and glaciers in between, this warmest year on record melted ice to an extent never seen before.

A second potential climate development has to do with the Arctic, where temperatures continue to rise at twice the rate of the rest of the world.

Experts track sea ice, which floats on the ocean, as well as the Greenland ice sheet, which if it completely melted into the ocean would raise sea levels by 20 feet.

As for Greenland, a study earlier this month found that melt predictions are likely too conservative. Advances in ice sheet modeling will soon provide a much better sense of how much sea level rise to expect from melting Antarctic and Greenland ice sheets.

“Will we see three-plus feet by the end of this century or less?” [climate scientist Jonathan Overpeck] asks, referring to some model predictions. “Will stabilizing the Earth’s climate at two degrees Celsius above pre-industrial (times) commit us to 20-plus feet of future sea level rise or less?”

And then there was the California drought.  You may have heard of it.  Recent year end rains were a mere drop in a very dry bucket. The drought threatens not only water tables in California, but top soil for one of the nation’s key agricultural areas.  Tree rings reveal the most devastating drought in California in over 1200 years.  It is easy to dismiss such proclamations as the hand wringing work of nervous nellies with a liberal bias. Pictures do better; especially when they come from NASA.

According to NASA, the Sacramento River and San Joaquin River basins have been hit the hardest by the water loss, in part because of the increasing volume of groundwater being pumped out for farming. For the last three years, these regions have been losing a total of 4 trillion gallons of water per year.

California drought

The sun is reflected off the water remaining in an irrigation canal that is drying up near Yuba City, Calif.

The data was compiled from two satellites that have been orbiting the Earth since 2002 as part of the Gravity Recovery and Climate Experiment (GRACE) mission, a collaboration between NASA and German space agency DLR. The satellites measure small fluctuations in Earth’s gravitational field that are most often caused by variations in water supply. 

In a podcast interview with Science Magazine, UC Irvine hydrologist James Famiglietti used the analogy of a bathroom scale to explain how GRACE uses highly sensitive gravity measurements to track changes in the amount of water stored underground in soil and rocks.

“Each [satellite] is about the size of a squashed minivan, and they orbit at about 400 kilometers. And what happens is that the change in mass on the surface, say, because of a big flood or a big load of snow on the mountains, actually pulls those spring-loaded weights towards Earth’s surface,” Famiglietti said.

The added danger in groundwater depletion is that unlike surface water, it is not easily replenishable.

 

With James Imhofe as incoming chair of the science committee in the House, it’s odds-on that NASA will get its climate science funding radically slashed for  producing evidence like this.

“We’re seeing it happening all over the world. It’s happening in most of the major aquifers in the arid and semi-arid parts of the world where we rely on those aquifers. But we’re able to see now the impact we’re having on this over exploitation,” Famiglietti told Science Magazine.

Peak Water: The Water Problem. The problem of drought is certainly not confined to California– in northeastern Brazil drought has wrought havoc, severe drought conditions are also plaguing Australia and Ethiopia, threatening to cause food shortages in some of the poorest nations on earth and higher prices across the world.  Consider the implications:

There are two types of aquifers: those that are replenishable through rainfall (the majority), and those that consist of water laid down eons ago, and thus do not recharge. The latter, known as fossil aquifers, include two strategically important ones, the deep aquifer under the North China Plain and the Ogallala aquifer under the US Great Plains.

Tapping underground water resources helped expand world food production, but as the demand for grain continued climbing, so too did the amount of water pumped… overpumping creates a water-based food bubble, one that will burst when the aquifer is depleted and the rate of pumping is necessarily reduced to the rate of recharge.

Today some 18 countries, containing half the world’s people, are overpumping their aquifers. Among these are the big three grain producers – China, India and the US.

Peak water? Peak grain? Saudi Arabia is curtailing irrigation based grain production,  and Syria and Yemen are depleting their aquifers as well. Elsewhere in the Middle East, both Syria and Iraq are also suffering from a reduced flow in the Tigris and Euphrates as Turkey claims more water for its own.  What could possibly go wrong?

The Arab Middle East is seeing the collision between population growth and water supply at the regional level. For the first time in history, grain production is dropping in a geographic region with nothing in sight to arrest the decline.

Hungry and thirsty people will inevitably go somewhere. Should current drought trends continue, 2015 could see  the world’s first climate refugees, with significant numbers leaving California’s Central Valley, and possibly parts of Arizona, Texas and Nevada, as well as Sao Paulo, Brazil and parts of China and India.  In China, the Gobi desert increases nearly 1400 square miles per year.  And drought is simply one vector for creation of climate refugees. Low-lying areas such as the Maldives, and Venice are clearly threatened by sea level rise, as are Norfolk, VA and New Orleans, closer to home.  Water, food, grazing lands, habitat –  all resources for which we compete. Climate change will only exacerbate this competition, with conflict almost inevitable.


Rise of ISIS//ISIL/The Islamic State/Daesh/The Caliphate

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We are expected to believe that the rise of ISIS/ISIL/The Islamic State, fully armed and spoiling for a fight, came as a complete surprise to our vaunted foreign policy establishment, those same worthies who can play back years of your phone conversations, predict your actions and movements through data collection and analysis, and even analyze the contents of your diet and health through sifting through your shit,  were taken unawares by this armed juggernaut?

No kidding.

 

Opposite this block of text is a  letter to the editor which articulates a critique of “our” foreign policy, and which makes the case for its illogic far more succinctly than anything I can add.

In a recent article, Dmitry Orlov argues that Anglo-imperialists are finally being forced out of Eurasia, as part of the Big Picture of understanding geopolitics. By Anglo-imperialist he means that combination of Britain and the FSA that has set the tone for global policy for two and a half centuries. America essentially inherited Empire from the bankrupt British, and is now in decline… with no new up-and-coming Anglo-imperialists to take over the family business.

Orlov makes a compelling case, buttressed by historical events, for the scorched-earth policies  of oppressors amounting to a policy of, “if we can’t have it, no one can,” otherwise known as “poison every well.” He makes the point that [Britain and America’s] common playbook has remained the same for many decades– a phony neoliberal crony capitalism for well-wired insiders coupled with domination by the big-ass military, coupled with a strong dose of  economic exploitation for everyone else involved, otherwise known as “cockroaches” to the elites. Orlov discerns a pattern to the Anglo-imperialist “playbook ” that has always called for a specific exit plan to be executed whenever plans to dominate and exploit a given country eventually fail.

 

On their way out, they do what they can to compromise and weaken the entity they leave behind, by inflicting a permanently oozing and festering political wound. “Poison all the wells” is the last thing on their pre-departure checklist.

• When the British got tossed out of their American Colonies, they did all they could, using a combination of import preferences and British “soft power,” to bolster the plantation economy of the American South, helping set it up as a sort of anti-United States, and the eventual result was the American Civil War.

• When the British got tossed out of Ireland, they set up Belfast as a sort of anti-Ireland, with much blood shed as a result.

• When the British got tossed out of the Middle East, they set up the State of Israel, then the US made it into its own protectorate, and it has been poisoning regional politics ever since. 

• When the British got tossed out of India, they set up Pakistan, as a sort of anti-India, precipitating a nasty hot war, followed by a frozen conflict over Kashmir.

• When the US lost China to the Communists, they evacuated the Nationalists to Taiwan, and set it up as a sort of anti-China, and even gave it China’s seat at the United Nations.

The goal is always the same: if they can’t have the run of the place, they make sure that nobody else can either, by setting up a conflict scenario that nobody there can ever hope to resolve.

The Sykes-Picot agreement that redrew the map of the Middle East is quite dead, leading directly to the rise of these al-Qa’ida-affiliated Sunni fighters to whom the artificial borders of Syria, Iraq, Lebanon, Jordan are the meaningless artifacts of a world long passed by. At the end of WWI, the British and French wanted Mosul for its oil. With the rise of the Caliphate, Mosul’s oil is Sunni oil, and the Saudis are happy.

Much speculation abounds that the Monsters of Mosul and Beheaders of Baghdad are funded by unspecified “rich patrons.” Mmm-hmm. . And some of them will have offices at Langley, others in Riyadh…  Meanwhile, ISIS will continue to serve its propaganda purposes and as a convenient vehicle for the purposes of the neocons who infest the American foreign-policy/war establishment to accomplish their aims within Syria. Plenty of madmen to go around.


 

Ukraine/Missing plane/NATO train

The same strategy of leaving a poisoned and permanently weakened state behind is being deployed as effectively in Ukraine as it is in the Levant. Again, Orlov:

The goal is always the same: if they can’t have the run of the place, they make sure that nobody else can either, by setting up a conflict scenario that nobody there can ever hope to resolve. And so if you see Anglo-imperialists going out of their way and spending lots of money to poison the political well somewhere in the world, you can be sure that they are on their way out.

Fast-forward to 2014, and what we saw was the Anglo-imperialist attempt to set up Ukraine as a sort of anti-Russia. They took a Slavic, mostly Russian-speaking country and spent billions corrupting its politics to make the Ukrainians hate the Russians… The result was what we saw this year: a bloody coup, and a civil war marked by numerous atrocities. Ukraine is in the midst of economic collapse with power plants out of coal and lights going off everywhere, while at the same time the Ukrainians are being drafted into the army and indoctrinated to want to go fight against “the Muscovites.”

To counter, Russia made a nice play of self-determination in  Crimea: if self-determination worked for Kosovo, why can’t it work for Crimea? International norms, yes? Oh, the Anglo-imperialist establishment  doesn’t approve? At which point Putin responded that the West should go suck a bag of dicks. Sometimes things don’t go according to plan for the Masters of the Universe.

By the end of 2015 the FSA plans to station nearly 150 tanks and armored vehicles in countries on Russia’s borders, according to Reuters. The evil Russians have moved their country closer to these weapons, so to protect them, we need to double down with more ABM systems, troops, weapons and bases, the better to justify profits for war profiteers and protect the interests of the Corporate State. Our madmen light matches in a loaded armory?

The failure of the neocons to start WWIII started through proxies in the Levant and  Ukraine, coupled with the little noted recent “cromnibus” appropriations to fund oil and gas infrastructure in the Ukraine, ties all the loose and desperate “ends” that indicate Orlov’s analysis is correct. Even Henry F*king Kissinger blames the West. And a nervous world watches the Sino-Russian led response of the BRICS nations against the dollar.

Smedley Butler observed the true uses of the military a century ago and today the FSA uses bloated and constantly growing military forces to leverage control of a vast commercial empire.  And if we can’t buy it, we break it.

If the U.S. shut down the more than a thousand military bases on foreign soil and the various command&control centers, it would not be able to threaten non-compliant nations with regime change. If the Federal Government made a massive shift from military spending to infrastructure and other domestic spending concerns, the U.S. would no longer be able to offload its debts onto its trading partners. Thus the problem goes deeper than the “nuclear mafia” of  weapons contractors, lobbyists and other former government officials siphoning off more and more federal tax dollars.

Regime changes in Libya, Iraq, attempted in Syria, Iran, Venezuela, Ukraine and now – Russia, are thus due to the simple fact that these are non-compliant nations, and do not take orders from the IMF with the expected alacrity.

Have an aircraft, any aircraft…

In order to ramp up public opinion against Putin and in favor of whatever mischief NATO intended to gin up, a couple of Malaysian aircraft went missing, MH-370 famously leading CNN’s Don Lemon to speculate on intervention “beyond our understanding” occurring, that “something” being perhaps supernatural?

“Especially today, on a day when we deal with the supernatural,” Lemon said. “We go to church, the supernatural power of God…people are saying to me, why aren’t you talking about the possibility — and I’m just putting it out there — that something odd happened to this plane, something beyond our understanding?”

Uhh– because it’s supposed to be the f*king news? I’m sure they are readying a pedestal for the bust of Don Lemon to be erected in the Newseum some time soon.

And then there was MH-17, shot down over eastern Ukraine by Vlad himself/by Russian air defense batteries/by a rebel held Buk surface-to-air missile system/by a Ukrainian air-to air missile/by a Ukrainian fighter’s 50 caliber machine gun. The US wasted no time in accusing Putin; and then dummied up. The MSM worked overtime to vilify Putin. The multinational investigation (Ukraine, Australia, Belgium, and Netherlands, of whom all four are U.S. allies, and, one of which is a suspect)  has worked for months and has not yet released, or even leaked, a report. Meanwhile, a pilot’s first person account says that MH-17 “was in the wrong place at the wrong time,” and that a Ukrainian fighter returned from its air mission without its loaded complement of air to air missiles. From the interview with the informant:

– Airplanes flew regularly. All day since the morning. In the afternoon, about an hour before the downing of the “Boeing”, three attack fighters were raised into the air. I don’t remember the exact time. One of the airplanes was equipped with such missiles. It was a Su-25.

– Have you personally seen it?

– Yes.

– Where was your vantage point?

– On site. Cannot tell you exactly.

– Did you have an opportunity to see specifically what the pylons of the aircraft where fitted with? Could you confuse “air-to-air” and “air-to-ground” missiles?

– No, I couldn’t confuse it. They vary in size, plumage, coloration. With a guidance head. Very easy to recognize. Anyway, after a short time, only one airplane returned, two were shot down. Somewhere in the East of Ukraine, I was told. The airplane that came back, was the one with those suspended missiles.

– It returned without the missiles?

– Without the missiles. That pilot was very scared.

And it would appear that TPTB have again overestimated their ability: the narrative that “Putin did it” has blown up, so they’ve buried the report, and thus the story, thinking that people will forget over time. In the country which Gore Vidal once famously described as “the United States of Amnesia”, they are probably correct; worldwide, not so much.

The Kuala Lumpur War Crimes tribunal has exercised “universal jurisdiction” to try in absentia Western leaders for crimes against humanity: in November 2011,  George W. Bush and Tony Blair, for crimes against peace because of the unlawful invasion of Iraq. In May 2012, after hearing testimony from torture victims  at Abu Ghraib and Guantanamo, the tribunal unanimously convicted Bush, Cheney, Rumsfeld, Alberto Gonzales, former Deputy Assistant AGs John Yoo and Jay Bybee of conspiracy to commit war crimes, specifically torture. The tribunal referred their findings to the chief prosecutor at the International Court of Justice in the Hague. In November 2013, the tribunal convicted the Zionist Apartheid State as guilty of genocide in Palestine. Any connection between the missing Malaysian planes and the above described events is the province of conspiracy theorists, and thus wholly coincidental.


Since this overheated screed is now reaching epic proportions, and has taken on a length such that even my wife won’t read it,  here’s a list of other  top stories of 2014 with significant “doom” potential  which will here go further unremarked:

The rise of protest parties (left and right) in Europe. 

Oil Price Collapse/Currency Wars and devaluation.

Peak Grid/ Detroit/  Rotting Infrastructure. Tom Lewis gets credit for elucidating this. Grid failures in Detroit brought this into sharp relief, if flagging attention, for a brief moment this year. Every physical system in America, from the grid to highways and bridges  to public sanitation systems to dams, ports and airports has seriously exceeded design life with no provision for replacement. At a time when corporate taxation is at its lowest point in a century, we seem unable to summon the will to rebuild our flagging infrastructure. After all, this would benefit working people and give a boost into the economy, so why exactly would we do that?  The response of the flat-earthers who drive the latter-day American political agenda is to privatize everything, “privatization” referring to theft of public resources. It is impossible to predict when any one of our critical systems will fail, yet fail they must. And the “solution” the yahoo caucus will offer is more privatization. Write it down in ink.

Junk Bond Market Yield Explosion.

Federal Deficit reaches $18 Trillion.

Ebola

Ebola promised to be the prefect existential threat to mankind: a game of “Plague” writ large. You’ll recall that the growth of infection rates was exponential in the early days of summer; many were simply waiting for the disease to board a plane in Liberia and then present itself in every airport in the known world.  FOX “News” discovered the “President Ebola” meme  and pounded it relentlessly into the fear centers of elderly white Americans right up through the midterm elections, whereupon, Ebola was miraculously cured, never to be discussed again.

Continued rising Economic inequality. 


 

garbage-canThat’s the view from Mount Nerd. Madmen and psychopaths are in charge of every single sphere of human effort. As the new electees of the Klown Kar Kaukus assume the reigns of power in 2015, rest assured that Tocqueville’s “genuine madmen, will played a very considerable political part.”

 

And if, like me, you like to look at the magician’s off hand, the better to know where the misdirection is coming from, here is a bonus: Project Censored’s Top 25 censored stories for 2014. And another: the worst cable news reports of 2014. No, don’t thank me. Pour a double skepticism, have one for me and toast 2015!

 
***

Surly1 is an administrator and contributing author to Doomstead Diner. He is the author of numerous rants, articles and spittle-flecked invective on this site, and quit barking and got off the porch long enough to be briefly active in the Occupy movement. He shares a home in Southeastern Virginia with Contrary and is grateful each day with her, and that he is not yet taking a dirt nap.

The Big Lies Get Bigger

Off the keyboard of Jim Quinn

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Published on The Burning Platform on August 13, 2014

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Discuss this article at the Economics Table inside the Diner

Consumer spending accounts for 70% of GDP. The government apparatchiks, corporate media propagandists, and the Wall Street shysters assured the masses that the negative GDP in the 1st quarter and dreadful retail sales were solely the result of harsh winter weather, as if the weather in the winter is ever good. They were absolutely unequivocally sure that retail sales would soar once Spring arrived.

The thing about retail sales is they aren’t lost. If you are snowed in for a few days and can’t buy that new pair of shoes, they’ll be there next week. The reality is if poor retail sales are really the result of weather, there is pent up demand that will be satisfied when the weather improves. In addition, harsh winter weather should increase the sales of items used to deal with harsh winter weather, shovels, salt, winter coats, long johns, etc.

So here we are in July. Retail sales have been essential flat for the last three months. There has been no rebound. There has been no surge. When inflation is taken into consideration, real retail sales are falling. But still the stock market rises. It rises because it has nothing to do with reality. The average American is far poorer today than they were at the depths of the recession in 2009. Real wages continue to fall, despite the bullshit about a jobs recovery.

The shit dumped by the media and the government is so deep, you need hip boots to wade through it. The reality is the .1% have been enriched by the Federal Reserve at the expense of the 99.9%. Retail sales will continue to stagnate, as the prices for energy, food, healthcare, tuition, clothing, and services rise relentlessly, along with taxes from local, state, and federal governments.

The oligarchs are using the exact same game plan that blew up in 2008 – dole out gobs of consumer debt (auto, student) and try to convince the ignorant masses they are wealthier because they are driving a new GMC Yukon with a 0% down, o% interest, 7 year loan. The megacorps use the free money from the Fed to buy back their stock, pumping their EPS and the stock bonuses of the executives, while laying off thousands, and distributing 2% raises to the plebs. The Too Big To Trust Wall Street titans take the free candy from the Fed, use their HFT supercomputers, and rig the markets with trillions in derivatives of mass destruction. The raping and pillaging of the middle class will continue until there is nothing left but bleached bones.

This Wall Street fantasy world is interrupted every day with anecdotes from the real world, but the willfully ignorant public enjoys believing the lies as their normalcy bias overcomes their own eyes.

Macy’s is supposed to be one of the successful retailers in the country and their earnings report was nothing but PR maggot spin and misinformation. The huge headline was their earnings per share rose by 11%. That sounds really impressive. You have to go deep into their propaganda press release to find out their profit actually went up a pitiful 3.9%. They spent millions buying back their stock. Brilliant move considering the stock cratered by $4 per share today. They announced same store sales growth of 3.4%, but in a little footnote say this includes on-line sales. Their on-line sales are growing strongly and their bricks and mortar is dying. They are closing stores and firing people.

Retail stocks are down 4% this year, while the S&P 500 is up 5%.As you can see in the chart Department stores (Macys, Sears, Kohls, JC Penney) and general merchandise stores (Wal-Mart, Target) are sucking wind with sales collapsing in July. So much for that back to school surge.

JC Penney will report another huge loss later this week. Wal-Mart will report shitty results as their customers are the ignorant masses. Retail is dying a long arduous slow death. It will not reverse itself. Americans are using their credit cards to pay for utilities, gas, taxes, and everyday bills. This Federal Reserve created Bubble 2.0 is going to cause havoc when it bursts because it has engulfed stocks, bonds, and housing simultaneously.

Does anyone with two brain cells actually believe we are having a housing recovery with mortgage applications at 14 year lows? Mortgage rates have fallen for the last year, as mortgage applications have plummeted. That is a sure sign of a strong health housing recovery and really bodes well for home furnishing, building materials, appliance, and electronics retailers.

Retail sales have missed expectations to the downside in 8 of the last 12 months. But, Jim Cramer assures us this is about to change. All is well. The future is bright. Jobs are plentiful. Consumers are confident. The stock market is at all-time highs. There is cash on the sidelines. Subprime loans are going to invigorate consumer spending. The deadbeats won’t default this time. They promise.

So the recession ended in 2009 according to TPTB. Shouldn’t year over year changes in retail sales be accelerating rather than declining since 2010? The unemployment rate, according to the geniuses at the BLS, has fallen from 9.6% in 2010 to 6.2% today. This should have spurred a huge spending spree by all the joyous employed people. What happened? The 9 million people who “willingly” left the workforce surely have plenty of leisure time to shop. The same government drones at the BLS also tell us that prices have only risen by 8.5% over the last four years, so paying more for food, energy and healthcare surely hasn’t deterred discretionary spending. Right?

Again, anyone critically assessing the bullshit heaped upon the public by the government, Fed, media, corporatacracy, and banking cabal realizes everything is a Big Lie. Just examining the highly manipulated and seasonally adjusted data reveals a number of truths:
  • Total retail sales have grown by 3.7% in the last year. People with their eyes open know that inflation is above 5%, so real retail sales are falling.
  • The total is skewed higher by the 8.1% increase in auto “sales”. Again, those awake to the truth know that leasing a car counts as a sale, financing a car for 7 years counts as a sale, and subprime loans to deadbeats who will default counts as a sale. Orwell would be proud.
  • Excluding the renting of cars to millions of Americans, retail sales have grown by a pitiful 2.7% in the last year, well below the true rate of inflation.
  • Furniture, appliance and electronics stores have negative sales over the last three months and essentially flat on a year over year basis. This proves the housing recovery meme is a complete fraud and the home price increases have been driven solely by Wall Street hedge funds using free money from the Fed to pump prices and bailout the Wall Street banks with billions of toxic mortgages on their books.
  • If so many jobs are being created why would clothing sales only be up 1.4% in the last year? Don’t newly employed people need clothes? Maybe they don’t, since most of the jobs are fry cook jobs at McDonalds and Burger King.
  • Sporting goods stores and department stores are filled with discretionary products and both classes of retail are in absolute freefall. Negative 3% to 4% annual sales are disastrous, considering inflation at 5% or higher. This trend assures thousands more retail locations will be shuttered over the next year. Look for more SPACE AVAILABLE signs in a mall near you.
  • Even restaurant sales have peetered out as the obese masses can’t afford the latest Applebees special. The 4.6% annual increase is almost entirely due to rampant food inflation that has caused restaurants to increase prices and reduce portions.
  • Lastly, even the glorious on-line future of retailing has hit a snag. Maybe Amazon stock at $327 isn’t a bargain after all. Online sales FELL month over month and have only risen by 6.7% in the last 12 months. The rate of growth in this category was 15% to 20% for years. The bricks and mortar retailers funded campaigns in all states to impose sales taxes on internet retailers. They’ve succeeded in reducing internet sales while continuing to see negatives sales in their bricks and mortar stores, with the added benefit of depleting consumers of more disposable income and handing billions more to government drones to waste.

So the pundits and propagandists for the ruling class continue to perpetuate the Big Lie of economic recovery, while the evidence in the real world proves it is a lie. Luckily for the oligarchs, if you trot out an “expert” with a degree from Harvard or an important title and instruct him to tell the people all is well and they are getting wealthier by the day, a large portion of the willfully ignorant will believe him. Another portion are so deficient in math skills and the ability to understand any financial concept, they wouldn’t understand anything they are told. The rest of the population is twittering, facebooking, instagramming, texting, or watching the Kardashians.

You will be fascinated to know that Kim (blowjob) Kardashian has 20 million twitter followers and is publishing an entire book of her selfies. She is our modern day John Steinbeck or Ernest Hemingway. So it goes.

The Fourteen Year Recession

Off the keyboard of Jim Quinn

Follow us on Twitter @doomstead666
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Published on The Burning Platform on March 24, 2014

recession-2

Discuss this article at the Economics Table inside the Diner

“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”Napoleon Bonaparte

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“A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men … [W]e have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.”Woodrow Wilson

When you ponder the implications of allowing a small group of powerful wealthy unaccountable men to control the currency of a nation over the last one hundred years, you understand why our public education system sucks. You understand why the government created Common Core curriculum teaches children that 3 x 4 = 13, as long as you feel good about your answer. George Carlin was right. The owners of this country (bankers, billionaires, corporate titans, politicians) want more for themselves and less for everyone else. They want an educational system that creates ignorant, obedient, vacuous, obese dullards who question nothing, consume mass quantities of corporate processed fast food, gaze at iGadgets, are easily susceptible to media propaganda and compliant to government regulations and directives. They don’t want highly educated, critical thinking, civil minded, well informed, questioning citizens understanding how badly they have been screwed over the last century. I’m sorry to say, your owners are winning in a landslide.

The government controlled public education system has flourished beyond all expectations of your owners. We’ve become a nation of techno-narcissistic, math challenged, reality TV distracted, welfare entitled, materialistic, gluttonous, indebted consumers of Chinese slave labor produced crap. There are more Americans who know the name of Kanye West and Kim Kardashian’s bastard child (North West) than know the name of our Secretary of State (Ketchup Kerry). Americans can generate a text or tweet with blinding speed but couldn’t give you change from a dollar bill if their life depended upon it. They are whizzes at buying crap on Amazon or Ebay with a credit card, but have never balanced their checkbook or figured out the concept of deferred gratification and saving for the future. While the ignorant masses are worked into a frenzy by the media propaganda machine over gay marriage, diversity, abortion, climate change, and never ending wars on poverty, drugs and terror, our owners use their complete capture of the financial, regulatory, political, judicial and economic systems to pillage the remaining national wealth they haven’t already extracted.

The financial illiteracy of the uneducated lower classes and the willful ignorance of the supposedly highly educated classes has never been more evident than when examining the concept of Federal Reserve created currency debasement – also known as inflation. The insidious central banker created monetary inflation is the cause of all the ills in our warped, deformed, rigged financialized economic system. The outright manipulation and falsity of government reported economic data is designed to obscure the truth and keep the populace unaware of the deception being executed by the owners of this country. They have utilized deceit, falsification, propaganda and outright lies to mislead the public about the true picture of the disastrous financial condition in this country. Since most people are already trapped in the mental state of normalcy bias, it is easy for those in control to reinforce that normalcy bias by manipulating economic data to appear normal and using their media mouthpieces to perpetuate the false storyline of recovery and a return to normalcy.

This is how feckless politicians and government apparatchiks are able to add $2.8 billion per day to the national debt; a central bank owned by Too Big To Trust Wall Street banks has been able to create $3.3 trillion out of thin air and pump it into the veins of its owners; and government controlled agencies report a declining unemployment rate, no inflation and a growing economy, without creating an iota of dissent or skepticism from the public. Americans want to be lied to because it allows them to continue living lives of delusion, where spending more than you make, consuming rather than saving, and believing stock market speculation and home price appreciation will make them rich are viable life strategies. Even though 90% of the population owns virtually no stocks, they are convinced record stock market highs are somehow beneficial to their lives. They actually believe Bernanke/Yellen when they bloviate about the dangers of deflation. Who would want to pay less for gasoline, food, rent, or tuition?

Unless you are beholden to the oligarchs, that sense of stress, discomfort, feeling that all in not well, and disturbing everyday visual observations is part of the cognitive dissonance engulfing the nation. Anyone who opens their eyes and honestly assesses their own financial condition, along with the obvious deterioration of our suburban sprawl retail paradise infrastructure, is confronted with information that is inconsistent with what they hear from their bought off politician leaders, highly compensated Ivy League trained economists, and millionaire talking heads in the corporate legacy media. Most people resolve this inconsistency by ignoring the facts, rejecting the obvious and refusing to use their common sense. To acknowledge the truth would require confronting your own part in this Ponzi debt charade disguised as an economic system. It is easier to believe a big lie than think critically and face up to decades of irrational behavior and reckless conduct.

What’s In Your GDP                          

“The Gross Domestic Product (GDP) is one of the broader measures of economic activity and is the most widely followed business indicator reported by the U.S. government. Upward growth biases built into GDP modeling since the early 1980s, however, have rendered this important series nearly worthless as an indicator of economic activity.  The popularly followed number in each release is the seasonally adjusted, annualized quarterly growth rate of real (inflation-adjusted) GDP, where the current-dollar number is deflated by the BEA’s estimates of appropriate price changes. It is important to keep in mind that the lower the inflation rate used in the deflation process, the higher will be the resulting inflation-adjusted GDP growth.”John Williams – Shadowstats

GDP is the economic statistic bankers, politicians and media pundits use to convince the masses the economy is growing and their lives are improving. Therefore, it is the statistic most likely to be manipulated, twisted and engineered in order to portray the storyline required by the oligarchs. Two consecutive quarters of negative GDP growth usually marks a recession. Those in power do not like to report recessions, so data “massaging” has been required over the last few decades to generate the required result. Prior to 1991 the government reported the broader GNP, which includes the GDP plus the balance of international flows of interest and dividend payments. Once we became a debtor nation, with massive interest payments to foreigners, reporting GNP became inconvenient. It is not reported because it is approximately $900 billion lower than GDP. The creativity of our keepers knows no bounds. In July of 2013 the government decided they had found a more “accurate” method for measuring GDP and simply retroactively increased GDP by $500 billion out of thin air. It’s amazing how every “more accurate” accounting adjustment improves the reported data. The economic growth didn’t change, but GDP was boosted by 3%. These adjustments pale in comparison to the decades long under-reporting of inflation baked into the GDP calculation.

As John Williams pointed out, GDP is adjusted for inflation. The higher inflation factored into the calculation, the lower reported GDP. The deflator used by the BEA in their GDP calculation is even lower than the already bastardized CPI. According to the BEA, there has only been 32% inflation since the year 2000. They have only found 1.4% inflation in the last year and only 7.1% in the last five years. You’d have to be a zombie from the Walking Dead or an Ivy League economist to believe those lies. Anyone living in the real world knows their cost of living has risen at a far greater rate. According to the government, and unquestioningly reported by the compliant co-conspirators in the the corporate media, GDP has grown from $10 trillion in 2000 to $17 trillion today. Even using the ridiculously low inflation BEA adjustment yields an increase from $12.4 trillion to only $15.9 trillion in real terms. That pitiful 28% growth over the last fourteen years is dramatically overstated, as revealed in the graph below. Using a true rate of inflation exposes the grand fraud being committed by those in power. The country has been in a never ending recession since 2000.

Your normalcy bias is telling you this is impossible. Your government tells you we have only experienced a recession from the third quarter of 2008 through the third quarter of 2009. So despite experiencing two stock market crashes, the greatest housing crash in history, and a worldwide financial system implosion the authorities insist  we’ve had a growing economy 93% of the time over the last fourteen years. That mental anguish you are feeling is the cognitive dissonance of wanting to believe your government, but knowing they are lying. It is a known fact the government, in conspiracy with Greenspan, Congress and academia, have systematically reduced the reported CPI based upon hedonistic quality adjustments, geometric weighting alterations, substitution modifications, and the creation of incomprehensible owner’s equivalent rent calculations. Since the 1700s consumer inflation had been estimated by measuring price changes in a fixed-weight basket of goods, effectively measuring the cost of maintaining a constant standard of living. This began to change in the early 1980s with the Greenspan Commission to “save” Social Security and came to a head with the Boskin Commission in 1995.

Simply stated, the Greenspan/Boskin Commissions’ task was to reduce future Social Security payments to senior citizens by deceitfully reducing CPI and allowing politicians the easy way out. Politicians would lose votes if they ever had to directly address the unsustainability of Social Security. Therefore, they allowed academics to work their magic by understating the CPI and stealing $700 billion from retirees in the ten years ending in 2006. With 10,000 baby boomers per day turning 65 for the next eighteen years, understating CPI will rob them of trillions in payments. This is a cowardly dishonest method of extending the life of Social Security.

If CPI was calculated exactly as it was computed prior to 1983, it would have averaged between 5% and 10% over the last fourteen years. Even computing it based on the 1990 calculation prior to the Boskin Commission adjustments, would have produced annual inflation of 4% to 7%. A glance at an inflation chart from 1872 through today reveals the complete and utter failure of the Federal Reserve in achieving their stated mandate of price stability. They have managed to reduce the purchasing power of your dollar by 95% over the last 100 years. You may also notice the net deflation from 1872 until 1913, when the American economy was growing rapidly. It is almost as if the Federal Reserve’s true mandate has been to create inflation, finance wars, perpetuate the proliferation of debt, artificially create booms and busts, enrich their Wall Street owners, and impoverish the masses. Happy Birthday Federal Reserve!!!

Click to View

When you connect the dots you realize the under-reporting of inflation benefits the corporate fascist surveillance state. If the government was reporting the true rate of inflation, mega-corporations would be forced to pay their workers higher wages, reducing profits, reducing corporate bonuses, and sticking a pin in their stock prices. The toady economists at the Federal Reserve would be unable to sustain their ludicrous ZIRP and absurd QEfinity stock market levitation policies. Reporting a true rate of inflation would force long-term interest rates higher. These higher rates, along with higher COLA increases to government entitlements, would blow a hole in the deficit and force our spineless politicians to address our unsustainable economic system. There would be no stock market or debt bubble. If the clueless dupes watching CNBC bimbos and shills on a daily basis were told the economy has been in fourteen year downturn, they might just wake up and demand accountability from their leaders and an overhaul of this corrupt system.

Mother Should I Trust the Government?

We know the BEA has deflated GDP by only 32% since 2000. We know the BLS reports the CPI has only risen by 37% since 2000. Should I trust the government or trust the facts and my own eyes? The data is available to see if the government figures pass the smell test. If you are reading this, you can remember your life in 2000. Americans know what it cost for food, energy, shelter, healthcare, transportation and entertainment in 2000, but they unquestioningly accept the falsified inflation figures produced by the propaganda machine known as our government. The chart below is a fairly comprehensive list of items most people might need to live in this world. A critical thinking individual might wonder how the government can proclaim inflation of 32% to 37% over the last fourteen years, when the true cost of living has grown by 50% to 100% for most daily living expenses. The huge increases in property taxes, sales taxes, government fees, tolls and income taxes aren’t even factored in the chart. It seems gold has smelled out the currency debasement and the lies of our leaders. This explains the concerted effort by the powers that be to suppress the price of gold by any means necessary.

 

Living Expense

Jan-00

Mar-14

% Increase

Gallon of gas

$1.27

$3.51

176.4%

Barrel of oil

$24.11

$100.00

314.8%

Fuel oil per gallon

$1.19

$4.07

242.0%

Electricity per Kwh

$0.084

$0.134

59.5%

Gas per therm

$0.712

$1.078

51.4%

Dozen eggs

$0.97

$2.00

106.2%

Coffee per lb

$3.40

$5.20

52.9%

Ground Beef per lb.

$1.90

$3.73

96.3%

Postage stamp

$0.33

$0.49

48.5%

Movie ticket

$5.25

$10.25

95.2%

New car

$20,300.00

$31,500.00

55.2%

Annual healthcare spending per capita

$4,550.00

$9,300.00

104.4%

Average private college tuition

$22,000.00

$37,000.00

68.2%

Avg home price (Case Shiller)

$161,000.00

$242,000.00

50.3%

Avg monthly rent (Case Shiller)

$635.00

$890.00

40.2%

Ounce of gold

$279.00

$1,334.00

378.1%

Mother, you should not trust the government. There is no doubt they have systematically under-reported inflation based on any impartial assessment of the facts. The reality that we remain stuck in a fourteen year recession is borne out by the continued decline in vehicle miles driven (at 1995 levels) due to declining commercial activity, the millions of shuttered small businesses, and the proliferation of Space Available signs in strip malls and office parks across the land. The fact there are only 8 million more people employed today than were employed in 2000, despite the working age population growing by 35 million, might be a clue that we remain in recession. If that isn’t enough proof for you, than maybe a glimpse at real median household income, retail sales and housing will put the final nail in the coffin of your cognitive dissonance.

The government and their media mouthpieces expect the ignorant masses to believe they have advanced their standard of living, with median household income growing from $40,800 to $52,500 since 2000. But, even using the badly flawed CPI to adjust these figures into real terms reveals real median household income to be 7.3% below the level of 2000. Using a true inflation figure would cause a CNBC talking head to have an epileptic seizure.

Click to View

The picture is even bleaker when broken down into the age of households, with younger households suffering devastating real declines in household income since 2000. I guess all those retail clerk, cashier, waitress, waiter, food prep, and housekeeper jobs created over the last few years aren’t cutting the mustard. Maybe that explains the 30 million increase (175% increase) in food stamp recipients since 2000, encompassing 19% of all households in the U.S. Luckily the banking oligarchs were able to convince the pliable masses to increase their credit card, auto and student loan debt from $1.5 trillion to $3.1 trillion over the fourteen year descent into delusion.

When you get your head around this unprecedented decline in household income over the last fourteen years, along with the 50% to 100% rise in costs to live in the real world, as opposed to the theoretical world of the Federal Reserve and BLS, you will understand the long term decline in retail sales reflected in the following chart. When you adjust monthly retail sales for gasoline (an additional tax), inflation (understated), and population growth, you understand why retailers are closing thousands of stores and hurdling towards inevitable bankruptcy. Retail sales are 6.9% below the June 2005 peak and 4% below levels reached in 2000. And this is with millions of retail square feet added over this time frame. We know the dramatic surge from the 2009 lows was not prompted by an increase in household income. So how did the 11% proliferation of spending happen?

Click to View

The up swell in retail spending began to accelerate in late 2010. Considering credit card debt outstanding is at exactly where it was in October 2010, it seems consumers playing with their own money turned off the spigot of speculation. It has been non-revolving debt that has skyrocketed from $1.63 trillion in February 2010 to $2.26 trillion today. This unprecedented 39% rise in four years has been engineered by the government, using your tax dollars and the tax dollars of unborn generations. The Federal government has complete control of the student loan market and with their 85% ownership of Ally Financial, the largest auto financing company, a dominant position in the auto loan market. The peddling of $400 billion of subprime student loan debt and $200 billion of subprime auto loan debt has created the illusion of a retail recovery. The student loan debt has been utilized by University of Phoenix MBA wannabes  to buy iGadgets, the latest PS3 version of Grand Theft Auto and the latest glazed donut breakfast sandwich on the market. It’s nothing but another debt financed bubble that will end in tears for the American taxpayer, as hundreds of billions will be written off.

The fake retail recovery pales in comparison to the wolves of Wall Street produced housing recovery sham. They deserve an Academy Award for best fantasy production. The Federal Reserve fed Wall Street hedge fund purchase of millions of foreclosed shanties across the nation has produced media proclaimed home price increases of 10% to 30% in cities across the country. Withholding foreclosures from the market and creating artificial demand with free money provided by the Federal Reserve has temporarily added $4 trillion of housing net worth and reduced the number of underwater mortgages on the books of the Too Big To Trust Wall Street banks. The percentage of investor purchases and cash purchases is at all-time highs, while the percentage of first time buyers is at all-time lows. Anyone with an ounce of common sense can look at the long-term chart of mortgage applications and realize we are still in a recession. Applications are 35% below levels at the depths of the 2008/2009 recession. Applications are 65% below levels at the housing market peak in 2005. They are even 35% below 2000 levels. There is no real housing recovery, despite the propaganda peddled by the NAR, CNBC, and Wall Street. It’s a fraud.

It is the pinnacle of arrogance and hubris that a few Ivy League educated economists sitting in the Marriner Eccles Building in the swamps of Washington D.C., who have never worked a day in their lives at a real job, think they can create wealth and pull the levers of money creation to control the American and global financial systems. All they have done is perfect the art of bubble finance in order to enrich their owners at the expense of the rest of us. Their policies have induced unwarranted hope and speculation on a grand scale. Greenspan and Bernanke have provoked multiple bouts of extreme speculation in stocks and housing over the last 15 years, with the subsequent inevitable collapses. Fed encouraged gambling does not create wealth it just redistributes it from the peasants to the aristocracy. The Fed has again produced an epic bubble in stock and bond valuations which will result in another collapse. Normalcy bias keeps the majority from seeing the cliff straight ahead. Federal Reserve monetary policies have distorted financial markets, created extreme imbalances, encouraged excessive risk taking, and ruined the lives of working class people. Take a long hard look at the chart below and answer one question. Was QE designed to benefit Main Street or Wall Street?

The average American has experienced a fourteen year recession caused by the monetary policies of the Federal Reserve. Our leaders could have learned the lesson of two Fed induced collapses in the space of eight years and voluntarily abandoned the policies of reckless credit expansion, instead embracing policies encouraging saving, capital investment and balanced budgets. They have chosen the same cure as the disease, which will lead to crisis, catastrophe and collapse.

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” – Ludwig von Mises

 

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"Restoring normal whale activity to the oceans would capture the CO2 equivalent of 2 billion tr [...]

Ukrainian Rhapsody"Our future will be more about artificial intelligence, cybersecurity, and non-state actors tha [...]

LeBron’s Chinese Troll Mobs"In the 36 hours after James’ delete, a troll mob with bot support sent a flame tsunami at the [...]

The folks at Windward have been doing great work at living sustainably for many years now.  Part of [...]

 The Daily SUN☼ Building a Better Tomorrow by Sustaining Universal Needs April 3, 2017 Powering Down [...]

Off the keyboard of Bob Montgomery Follow us on Twitter @doomstead666 Friend us on Facebook Publishe [...]

Visit SUN on Facebook Here [...]

What extinction crisis? Believe it or not, there are still climate science deniers out there. And th [...]

My new book, Abolish Oil Now, will talk about why the climate movement has failed and what we can do [...]

A new climate protest movement out of the UK has taken Europe by storm and made governments sit down [...]

The success of Apollo 11 flipped the American public from skeptics to fans. The climate movement nee [...]

Today's movement to abolish fossil fuels can learn from two different paths that the British an [...]

Top Commentariats

  • Our Finite World
  • Economic Undertow

It is harder to automate home production than car production, you are right. In the US, autos are sa [...]

Thanks! I don't remember seeing the NASA study before. Louis de Sousa and Euan Mearns put toget [...]

Different types of oil produce different mixes of gasoline, diesel, asphalt, and other products, wit [...]

I have run into way too many young people who say, "I am pursuing a career related to climate s [...]

I am not surprised at the change in emphasis. China has figured out how poorly renewables work, firs [...]

Here's an article: https://www.reuters.com/article/us-imo-shipping-factbox/factbox-imo-2020-a-m [...]

What is the shift away from bunker fuels? [...]

Yeah, when the water heater goes out the day after you just put new tires on one of the cars, etc... [...]

I join the chorus in welcoming you back. Any thoughts on how the shift away from bunker fuel on Janu [...]

@Front Range Mike "Most everyone I know is trying to figure out how to cut back and sell their [...]

RE Economics

Going Cashless

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Simplifying the Final Countdown

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Bond Market Collapse and the Banning of Cash

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Do Central Bankers Recognize there is NO GROWTH?

Discuss this article @ the ECONOMICS TABLE inside the...

Singularity of the Dollar

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Kurrency Kollapse: To Print or Not To Print?

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SWISSIE CAPITULATION!

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Of Heat Sinks & Debt Sinks: A Thermodynamic View of Money

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Merry Doomy Christmas

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Peak Customers: The Final Liquidation Sale

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Collapse Fiction

Useful Links

Technical Journals

The effect of urbanization on microclimatic conditions is known as “urban heat islands”. [...]

Forecasting extreme precipitations is one of the main priorities of hydrology in Latin America and t [...]

The objective of this work is the development of an automated and objective identification scheme of [...]