"Boom: All Fall Down"
by Bob Hoye
"Decades ago, when a toddler tripped the exclamation was: “Faw down, go boom”. In the markets it’s the opposite as the mania runs until reckless speculators exhaust themselves. The boom completes, then most asset prices “faw down”, taking participants through an emotional whipsaw from euphoria to dismay. Worse, the hit initiates a recession and over the centuries – the bigger the boom the bigger the bust.
Encompassing stocks, bonds, commodities and real estate this has been the biggest bubble in history. With considerable fascination, it has been accompanied by the equivalent “boom” in radical politics determined to trash democracies from freedom and prosperity to servitude and poverty.
Why ruin people’s lives? A recurring tragedy that can be observed but never explained. Why do it? America’s Constitution was designed to ensure freedom for the individual by limiting and separating state powers. But today’s globalists are determined to corrupt every country into a one-party state. According to the WEF, “You will own nothing and be happy”.
The Davos School of Marxism’s “Great Reset”: Beginning in the early 1900s, authoritarians ran under the labels of International Socialism or National Socialism. Both experiments being destructive failed, but under “Progress” control freaks promoted “Global Warming” and “COVID” as mesmerizing banners.
Ironically the movement, as fronted by Democrats and their media, hates ordinary life and seems compelled to destroy it. As it is turning out, masks and “jabs” as well as the contrived “CO2 On-Off Switch” have enabled control freaks to, well, impose control. The lockdowns and propaganda are without precedent. As discouraging as things are now, a recession will exacerbate political tensions.
The unrelenting drumbeat of in-your-face and in-your wallet bureaucratic intrusion became “too much”, inspiring popular uprisings in a growing number of countries. These are not the riots that were allowed to trash cities in America. These are not the riots to defund the police, nor to unconstitutionally remove elections from state assemblies to federal fascists. These are not riots about gender identities being forced upon kids down to kindergarten and not the riots blatantly pushing “racism”: the universal condemnation. If you criticize “Global Warming” you are “Racist!” Same for trying to teach higher as well as basic mathematics. In a world where 2 + 2 is declared as 5, differing opinion is cancelled as “Racist”.
Regrettably even in America and Canada, the dominating movement has been authoritarian, and history records that the transition to totalitarian occurs when the governing classes grant themselves the privilege of state murder. Understandably, this is needed by brutal policymakers to impose unpopular dictates.
Polling is no longer used to form a campaign platform. If America’s Democrats or Canada’s Liberals were to run on popular policies, it would put political power back into the hands of the electorate. An elegant description of fascism fits today’s politics: “The combination of big government and big business”
Verboten! It is simple – popular policies would restore government for and by the people. And then there has been the tragedy of fascism, whereby small businesses were shut down as big businesses remained open. The SBA points out that 99.9% of businesses in the US are “small”, employing some 48% of the work force.
Inflation has been deliberate central bank policy and as usual forcing hardship upon nearly everyone. With those lower down the ladder suffering the most as too many government employees enjoy generous retirement benefits. As young adults move into Mom and Dad’s basement.
Economic and political comforts will deteriorate as the recession becomes more evident, but history provides hope that involves unrelenting ambition and inflation. Political ambition drives the inflation that in turn drives financial markets “too the moon” and then with speculative exhaustion both the markets and the economy collapse. The more radical the politics, the more radical the inflation, which drives radical speculation. Until both crash
All one needs to do is Google “Third Century Rome” and up comes: “Crisis of the Third Century”. That with further research records that what has been happening now is like the political forces that collapsed the magnificence of Rome. A mania of bureaucratic greed and wars – upon countries as well as upon Roman citizens. Ordinary folk fled the “Eternal City” shrinking the population from around 800,000 to 80,000. Without law and order, free grain and bread, it became unlivable. Barbaric bureaucrats caused the collapse, not the two “barbarian” tribes that sacked the city in 410 and 455, amounting to 17 days – altogether.
The next politically dreadful century prevailed through the 1500s, when massive amounts of gold and silver from the New World were inadequate to fund control freaks. So, with taxation at confiscatory levels governments resorted to radical inflation to fund radical expansions of the bureaucracy. With their chronic wars upon countries and their own citizens even the Church was corrupted to a murderous police state.
Communism in Eastern Europe, Progressivism in the West: But unrelenting and costly intrusion became “too much”, inspiring a great reformation, best followed in England. London grew as a financial center as a prosperous middle class also expanded – and disquieting to authoritarians – had become independent in means and opinion. Using the infamous Star Chamber, the state banned publications that were not politically correct (offenders were fined and their faces branded). Instead, determined reformers had their material published in Holland, a traditionally free country, finding a way around the attempted monopoly on information.
Absurdly, Biden’s “Disinformation Governance Board” is nothing new, recording an approval poll at 6 percent. This as well as Trudeau’s equivalent are provocative mistakes that are widely inspiring the reform movement. Representing Big Tech control freaks, Twitter is being reformed and alternative forums for uncensored information and opinion are rapidly developing.
Our regrettable Tyrannical Century began in the early 1900s, with compelling banners – Communism in Eastern Europe, Progressivism in the West. However, the authoritarian experiment has run for more than a hundred years, which with the two prior examples is enough to climax the mania in radical political and financial markets. In the early 1600s, veteran London merchants scorned enforced nonsense as “Tyrannical Duncery”, which today is clearly rampant in the swamps of DC and Ottawa.
Boom – all faw down."
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