Monday, August 29, 2022

Bill Bonner, "Way Off Target"

"Way Off Target"
The Fed has a ways to go to get ahead of inflation... 
and stocks have a ways to fall before then.
by Bill Bonner

Poitou, France - “Restoring price stability will likely mean maintaining a restrictive policy stance for some time. The historical record cautions strongly against loosening monetary policy prematurely.” ~ Jerome Powell

Last week’s big news came on Friday. In short, the Fed did not ‘pivot.’ Not yet. And bringing our conclusion right up front: the pain has only just begun. It’s later – when inflation-adjusted interest rates are higher than the CPI (consumer price index) – that we’ll find out what a twirl the Fed can do.

In the meantime, from Yahoo Finance comes the report: "Fed Chair Powell: Rates will rise until 'job is done' bringing down inflation." "Federal Reserve Chairman Jerome Powell on Friday said the central bank’s job on lowering inflation is not done, suggesting that the Fed will continue to aggressively raise interest rates to cool the economy. “We will keep at it until we are confident the job is done,” Powell said in remarks delivered at the Fed’s annual conference in Jackson Hole, Wyoming. While the lower inflation readings for July are welcome, a single month’s improvement falls far short of what the Committee will need to see before we are confident that inflation is moving down,” Powell said Friday.

Stock market investors took the news badly. By the close of business on Friday, the Dow was down 1,000 points. They had expected the Fed to ease up. Inflation has peaked out, they believe. The Fed ought to be able to get back to doing what it does best – inflating the economy.

Way Off Target: But the Fed still is inflating. Its balance sheet is going down, but it is still lending at negative (below the level of consumer price increases) rates. The Fed Funds rate is still 600 basis points BELOW the CPI and 400 basis points BELOW the Fed’s preferred inflation measure, the PCE (Personal Consumption Expenditures). By either measure the inflation rate is still way ABOVE the Fed’s 2% target. At least the Fed is going in the right direction… raising rates, however timidly.

Stocks are down – but not catastrophically. The last time the Fed had to do battle with inflation the Dow fell to where it was briefly at the same level as gold. Today, that would mean a Dow of 1,800, not 32,000. And, back then, mortgage rates were over 15%. Imagine a $300,000 mortgage at 15%. Payments would be about $4,000 a month. How many homeowners could afford that?

For the moment, all is calm. The Powell Team gives the impression of a stern resolve. It will do ‘whatever it takes’ to bring inflation under control. Everyone knows it won’t be fun. And yet, this is no time for the Fed to give up on its ‘tightening’ cycle. The Fed also needs to regain some of its lost credibility. It was very wrong about inflation; Fed governors looked like fools. Now, they’re going to stay tough on inflation until lending rates are higher than inflation, not lower.

Here’s why. “Money” is brought into being as it is borrowed. When banks lend, they don’t go into their vaults and take out money. They just create it – as an accounting entry. So, the more people borrow, the more ‘money’ there is in circulation. This new money ‘inflates’ the money supply… which leads to higher prices. Then, as prices go up, people have an incentive to borrow even more money. Because, the money they pay back will be worth less than the money they borrowed. More borrowing = more inflation = higher prices = more borrowing.

Either Or: It’s “Inflate or Die.” Either inflation continues. Or, it is brought under control – with higher interest rates – and the bubble dies. People may put off dying for as long as they can. But you can’t put it off forever. And here’s Senator Warren. Like a bitter widow wagging her finger at the corpse of a chain smoker, she’s getting in position to say “I told you so.” CNN: "Democratic Sen. Elizabeth Warren of Massachusetts on Sunday slammed Federal Reserve Chairman Jerome Powell for suggesting interest rates should go up to combat inflation in the US, saying he could "tip this economy into recession." News for Ms. Warren: the economy is already in recession. That’s what’s s’posed to happen.

Mr. Powell is right. Getting control of inflation will be painful. Higher interest rates will mean less borrowing, less hiring, less shopping, lower profits, lower asset prices and lower tax receipts for the US government. It’s a recession, in other words. And it’s how the economy corrects the mistakes and excesses of the Bubble Epoch. That’s the whole idea. But the pain has hardly begun. The Fed has to get ahead of inflation, not trail far behind it. It has to continue raising rates, until something gives – either inflation… or its own backbone."

Meanwhile, we all feel the very real consequences, don't we?

"How It Really Is"

 

"The Point Is..."

"One of the penalties of being a human being is other human beings."
- Christopher Morley, "Hide and Seek"

 "The truth is that human beings have neither kindness, nor faith,
 nor charity beyond what serves to increase the pleasure of the moment. 
They hunt in packs.
Their packs scour the desert and vanish screaming into the wilderness."
- Virginia Woolf, "Mrs. Dalloway"

 "The more I love humanity in general, the less I love man in particular."
- Fyodor Dostoevsky, "The Brothers Karamazov"

"Understanding The Tyrannical Mind And How It Operates"

"Understanding The Tyrannical Mind And How It Operates"
by Brandon Smith

"All people seek to control their environment to a certain degree. They want a reliable level of management over their world, and to remove whatever doubts they might have about their survival in the future. If they can, people will take measures to remove any potential pain or struggle and establish a life of perpetual comfort. The easy road is the dream for most, and in order to get it human beings see power as a formidable tool.

I’m exploring this common condition because I want to make it clear that almost ALL PEOPLE desire power to a degree. Sometimes this even means controlling the actions of others to prevent them from disrupting the oasis of comfort we construct around us. Sometimes there are destructive people that we feel we are forced to inhibit and cage in self defense. And still other times, we try to control those around us out of irrational fear.

The tyrannical mindset is not exclusive to the Stalins, Maos and Hitlers of history, it is a deep rooted shadow that lurks in the majority of us at times. It is this condition that political tyrants try to exploit to their advantage, because no authoritarian government can ever be successful without the help of millions of little tyrants supporting them. They find a way to feed our desire for control and predictability while simultaneously enslaving us. The point is, tyrants need us. We all have a little dash of tyranny in our souls; we are linked, but we are different.

This is not to say that order in itself is evil or that social structures are inherently oppressive. People need boundaries because not all people are good or sane; some are vicious, some are lazy, some are crazy, some are incompetent and some are dishonest and they drag the rest of us down. Anarchy is not the solution, but neither is totalitarianism. It’s all about who sets the boundaries and how.

This is where we uncover a specific human element that is obsessively attracted to control, not because they are afraid, and not because they want comfort, but because they enjoy the feeling of power. They are addicted to it. I’m speaking specifically about narcissists, sociopaths and psychopaths; they are members of our species but they are lacking the key psychological traits that make us human, such as empathy, conscience, imagination, love and shame. In almost every case of government gone wrong it is because these types of people were able to slither into positions of authority and take advantage.

Despite the exaggerated depictions in movies and TV, your average psychopath is not all that complex or interesting. The fact of their existence is interesting, but as people they tend to be boring. The idea of them is fascinating because they are a biological anomaly, an evolutionary mistake or maybe a spiritual deformity. Around 6% of any given population is prone to psychopathy and an even smaller percentage are high functioning psychopaths that are adept at hiding their monstrous natures.

Most average psychopaths eventually end up in prison or involved in an endless succession of life failures. They can’t get it together and maintain relationships and build a normal life because they are too self obsessed and dangerous and eventually the people around them notice. These types of people are what I would call the “little tyrants.” They seem to rise to the surface of society when times are desperate; when people are distracted by crisis is when psychopaths feel it’s safe to show their true natures.

For example, during the covid pandemic lockdowns and the government attempts to introduce draconian vax mandates the little tyrants were everywhere. They just appeared out of the ether and swirled around the authoritarian vortex like it was a feeding frenzy. They took pleasure in the opportunity to order others around about masks and vaccines and “social distancing,” even though none of these measures made ANY difference whatsoever to the spread of covid or the rather minor median Infection Fatality Rate of 0.23%.

They were being tossed scraps from the table of power and they savored every minute of it. The real science wasn’t on their side, but they didn’t care; the media and the government were on their side and that’s all that mattered. They were happy to be used as weapons against other citizens that just wanted to be free.

Beyond the symbiotic (or maybe parasitic) relationship between big tyrants and little tyrants, there are a set of standards that have to be met for tyranny to be successful:

Destruction Of Choice: At the core of tyranny is the removal of choice. Centralization is all about eliminating options for the public while telling them their lives will be streamlined, easier and safer. If people have options outside the establishment system or ideology then they might question the validity of the power structure. They might ask themselves “What if there is a better way than this?”

And, since there is always a better way than fear and slavery, tyrants have to engage in a constant war with all alternative ideas and principles. The only way they can be sure that people won’t rebel someday is to erase the existence of choice. Not only that, but they have to convince the masses that to even suggest another choice is sacrilegious and dangerous. The system must become absolute in all things and in every area of daily life.

Create A False Moral Paradox: Freedom is slavery – Ignorance is strength. It’s the old Orwellian paradox that perverts the meaning of words and deeds to justify tyranny. An extension of this twisted way of thinking is the religion of the “greater good”; the idea that all evils are justified as long as the “greater good” is accomplished. But what is the greater good? It’s anything the tyrants say it is; usually anything that helps them to gain more power. One would think that a “good” that is “greater” would entail more freedom and less fear, not less freedom and more fear.

As a part of the tactic of removal of choice, tyrants often create a fake moral conundrum in which people are told that their freedom is actually harmful to others, therefore their freedoms must be taken away “for the greater good.” Again, the covid medical tyranny experiment was built completely around this argument. What if your choice to not wear a mask, to not stay locked in your house and to not take a questionable vaccine harmed hundreds or thousands of others? Doesn’t that justify taking your choices away? These claims are complete fantasy, of course, but in the heat of a national panic people can be led to believe that the false paradox is real.

Obsessive Compulsive Expansion: As noted, tyrants are usually psychopathic personalities, and a part of this mindset is the compulsion to expand and devour. Like a growing amoeba, or that creature from the movie ‘The Blob.’ Their hunger for control is never sated, they will always want more.

People will be told that they are only losing one freedom, or two freedoms, or that their freedoms will be restricted “for a short time.” This is always a lie. Once tyrants gain new power they will hold onto it obsessively as if it is oxygen and without it they might die. And, then they will seek more powers because what they have is never enough. A friend of mine once described it this way:

"Piled before the tyrant is a feast of kingly proportions, like a Thanksgiving Day feast flowing across his dinner table. You sit quietly without access to the table, but in your hands you do hold a little crust of bread. This is all you have and you cradle it carefully because it must be made to last. And even though the tyrant’s belly is full and he has more than he could possibly ever eat in a lifetime, all he can think about is YOUR little crust.

All he wonders about day and night is why you have that crust when it should be his. He grinds his teeth frothing in desperation for your meager meal. Then one day he decides he will not stop until your bread crust is in his hands while you starve. This is now his mission in life – To take your crust and crumbs and leave you with nothing. Any other outcome would be unimaginable. He not only wants to steal your crust, but he wants to see your despair when he does it. He wants you to know he has your last meal, and he wants to see the pain in your face when he takes it away. Then, he wants you act like you love him for it."

This is how the mind of a psychopath works. Why do their brains function this way? There are many theories but no one really knows for certain. Evidence suggests that they are actually born the way they are; with no conscience and no counterbalance to the madness.

The bread crust story is a metaphor, but it illustrates how psychopathic authoritarians view various freedoms – they are pieces of life that tyrants cannot tolerate you having in your possession. It drives them insane to know you have that little piece of light and joy in your hands and they scheme and plot and scream and wail and claw until they get it away from you.

Tyranny Cannot Be Defeated Unless It Is Understood: There will be people out there that make the common ignorant argument that all of this is an exercise in futility because it doesn’t “address solutions.” There are many solutions to authoritarian systems, I have been writing about them for over 16 years now. We can talk all day about decentralization and localism and organization and revolution, but none of this matters unless we understand how our enemies think and the tactics they use. If we do not know them we cannot defeat them.

They are not complex and they are not necessarily ingenious but they are relentless. Underestimating their obsession with control would be disastrous. That said, the one thing they value more than power is their own lives, and until these people are made to understand that their lives could be the cost of their compulsions they will never stop. There is no reasoning with them. There is no diplomacy or compromise. There is no middle ground. They will continue to take, or they will be disrupted. Knowing their mindset brings us several steps closer to shutting them down."




"Economic Market Snapshot 8/29/22"

"Economic Market Snapshot 8/29/22"
Market Data Center, Live Updates:
Down the rabbit hole of psychopathic greed and insanity...
Only the consequences are real - to you!
Latest Market Analysis, Updated 8/29/22
A comprehensive, essential daily read.
August 28th to 30th
Financial Stress Index

"The OFR Financial Stress Index (OFR FSI) is a daily market-based snapshot of stress in global financial markets. It is constructed from 33 financial market variables, such as yield spreads, valuation measures, and interest rates. The OFR FSI is positive when stress levels are above average, and negative when stress levels are below average. The OFR FSI incorporates five categories of indicators: creditequity valuationfunding, safe assets and volatility. The FSI shows stress contributions by three regions: United Statesother advanced economies, and emerging markets."
Job cuts and much more.
Commentary, highly recommended:
"The more I see of the monied classes,
the better I understand the guillotine."
- George Bernard Shaw
Oh yeah... beyond words. Any I know anyway...
And now... The End Game...

Sunday, August 28, 2022

"Retail Businesses are Refusing to Pay Taxes Because of Crime"

Full screen recommended.
Dan, iAllegedly, 8/28/22:
"Retail Businesses are Refusing to
 Pay Taxes Because of Crime"
"This is getting so bad that businesses are wondering why they are agreeing to pay taxes in a city where crime is running rampant. Are they justified? Plus, I share some of your email and the photos that you sent me."
Comments here:

"September Stock Market Crash: The 1008 Point Market Crash A Sign That Another 2008 Coming"

Full screen recommended.
"September Stock Market Crash: The 1008 Point 
Market Crash A Sign That Another 2008 Coming"
by Epic Economist

"A nightmarish financial crisis that shook the entire globe happened in September 2008. Today, conditions are set for such an event to happen again. On Friday, the Dow Jones faced a wipeout of stunning 1,008 points as panic swept through Wall Street right after Jerome Powell’s dramatic speech in Wyoming. The Fed Chair made it crystal clear that interest rates will continue to rise for the foreseeable future, and that prospect has deeply alarmed investors. For months now, some very vocal influencers in the financial community had been forecasting that interest rate hikes would soon come to an end, but that doesn’t seem to be the case anymore at all. Powel not only dashed these hopes but also warned that more pain is ahead. As markets open tomorrow, Wall Street is going to finally face reality, and things are likely to get messy.

Last Friday, the Dow Jones faced a remarkable drop that had investors sitting on the edge of their seats. After dropping 1,008 points, some very disturbing similarities to the 2008 crash and the following financial crisis immediately stood out for some of the most experienced market players. Many other past parallels of times when a stock market crash occurred have seemed to have been a sign of worse things to come. For instance, on September 29th, 2008 the entire world was completely shocked when the Dow Jones Industrial Average fell 777 points. That was a new all-time record back then, and fear spread through Wall Street like wildfire. The Dow’s sudden plunge told the story of the market's despair.

Investors were struck by a sentiment of hopelessness, and each and every sector of financial markets were simultaneously slumping, adding to their woes. The entire globe faced some of the most difficult periods in the history of financial markets, and confidence disappeared from Wall Street. The meltdown led to major repercussions in several nations, and the U.S. economy fell into what would become known as “the Great Recession”.

We’re actually nearing the 14th anniversary of the housing bubble burst of 2008. Now, we’re seeing a similar catastrophe emerging on the horizon. Another bubble has burst, the housing market is crashing again, and this downturn could turn out to be the most painful of them all. Experts argue that if the Federal Reserve stopped raising interest rates so keenly, we could actually have a shot at avoiding a disorderly collapse of the real estate market.

However, that’s quite unlikely at this point. On Friday, Jerome Powell explicitly said that more rate hikes were coming and that we all should brace for more pain in the coming months. In a keynote speech at the Federal Reserve’s annual Jackson Hole Economic Symposium, the Fed Chair said that the path to reducing inflation would not be quick or easy, adding that the task, “requires using our tools forcefully to bring demand and supply into better balance.”

“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” he said. Powell continued arguing that “these are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain,” referencing the lessons officials learned from studying the Fed's struggle to combat high inflation in the 1970s and 1980s. Powell and his associates at the Fed are taking actions that threaten to greatly destabilize financial markets. But Wall Street isn’t prepared for an interest rate shock, and soon, everyone will realize that officials are making a tragic policy error."

"Danger! Home Inventory Is Exploding, Don't Buy Anything Now; Homebuilder Nightmare"

Full screen recommended.
Jeremiah Babe, 8/28/22:
"Danger! Home Inventory Is Exploding, 
Don't Buy Anything Now; Homebuilder Nightmare"
Comments here:

Musical Interlude: Liquid Mind "Awakening (Cosmic Sea)"

Full screen recommended.
Liquid Mind "Awakening (Cosmic Sea)"

Be kind to yourself, savor this beautiful video...

"A Look to the Heavens"

"Large galaxies and faint nebulae highlight this deep image of the M81 Group of galaxies. First and foremost in the wide-angle 12-hour exposure is the grand design spiral galaxy M81, the largest galaxy visible in the image. M81 is gravitationally interacting with M82 just below it, a big galaxy with an unusual halo of filamentary red-glowing gas.
Around the image many other galaxies from the M81 Group of galaxies can be seen. Together with other galaxy congregates including our Local Group of galaxies and the Virgo Cluster of galaxies, the M81 Group is part of the expansive Virgo Supercluster of Galaxies. This whole galaxy menagerie is seen through the faint glow of an Integrated Flux Nebula, a little studied complex of diffuse gas and dust clouds in our Milky Way Galaxy."

Chet Raymo, “The (Unattainable) Thing Itself”

“The (Unattainable) Thing Itself”
by Chet Raymo

“Clear water in a brilliant bowl,
Pink and white carnations. The light
In the room more like a snowy air,
Reflecting snow. A newly-fallen snow
At the end of winter when afternoons return.
Pink and white carnations - one desires
So much more than that. The day itself
Is simplified: a bowl of white, 
Cold, a cold porcelain, low and round,
With nothing more than the carnations there.”

"Simplicity. Morning. Forty minutes till sunrise. Coffee. An English muffin. Sit on the terrace. The sky a deep violet. Then rose. Then gold. Simplicity. The senses fill to overbrimming, displacing thought. The moment is sweet and pure. Distilled. The shackles of conscience fall away. One simply is.

“Say even that this complete simplicity
Stripped one of all one's torments, concealed
The evilly compounded, vital I
And made it fresh in a world of white,
A world of clear water, brilliant-edged,
Still one would want more, one would need more,
More than a world of white and snowy scents.”

Now I wait with my eyes fixed on that place along the horizon where the Sun will rise. The sky itself holds its breath, anticipates the flash of green. I try, I try to empty myself, Zenlike, to become an empty vessel for nature to fill. A gathering vessel, brilliant edged. To exist entirely in the moment, outside of time, this moment, just now, now, as the disk of the Sun bubbles up on the sea horizon, that orb of of molten gold.

“There would still remain the never-resting mind,
So that one would want to escape, come back
To what had been so long composed.
The imperfect is our paradise.
Note that, in this bitterness, delight,
Since the imperfect is so hot in us,
Lies in flawed words and stubborn sounds.”

It's no use, of course. No way to obviate the conscious mind. Perhaps a Zen master might do it, a mystic in transport, a drunken sailor who walks into a lamppost. Even as the Sun's disk inflates, swells, unaccountably huge, the mind parses, frames, construes. I close my eyes to shut out thought and the words fill up the space behind my eyelids. The thing itself is out of reach, the moment adulterated by mind. The blessing of consciousness. And the curse."

"Only One Question..."

"There's only one question that matters, and it's the one you never get around to asking. People are capable of varying degrees of truth. The majority spend their entire lives fabricating an elaborate skein of lies, immersing themselves in the faith of bad faith, doing whatever it takes to feel safe. The person who truly lives has precious few moments of safety, learns to thrive in any kind of storm. It's the truth you can stare down stone-cold that makes you what you are. Weak or strong. Live or die. Prove yourself. How much truth can you take?"
- Karen Marie Moning

"The Wayback When Machine"

"The Wayback When Machine"
A warp speed journey all the way back 
to the Age of Abundance (February, 2022)...
by Joel Bowman

Buenos Aires, Argentina - "Something a little different for you today, dear reader; a journey in the Wayback When Machine. As you may have noticed, we’ve welcomed a whole new cohort of readers to our humble ranks over the past month or so (if that’s you, pull up a chair and get comfy)...As such, we’ve been “circling back,” as the former White House press secretary, Jen Psaki, used to say, taking stock of where we’ve been... and trying to get a feel for where we might be headed next.

Looking back through our growing archive of Sunday Sessions, we came across the following issue, first published on February 13 of this year, barely one week before Russian tanks were to roll across the Ukrainian border.

Of course, we could have had no idea of the events that would come to pass in the weeks and months ahead... from the conflict itself to the consequent sanctions, including the weaponization of the US dollar, from supply chain disruptions to ongoing deglobalization, from energy shocks to forty-year high inflation ripping across the US and Europe, and plenty more besides. And yet, reading over that issue with the benefit of hindsight, and listening to Byron’s characteristically sound and sage insights, we can’t help but wondering if there weren’t some clues along the way, some breadcrumbs that were pointing toward some version of what was to come.

It is not given to man to know his fate, as they say, but a working knowledge of our recent history, coupled with an unflinching assessment of our own flawed and predictable nature, can help us form a picture of what might lie in wait.

And so it is in that spirit we invite you back to a simpler time, when armed conflict on European soil was still a twinkle in Mr. Putin’s eye, when power outages in highly industrialized nations were the stuff of wild-eyed conspiracy theorists and when persistent, generation-high inflation was still in its “transitory” infancy..."
“Why, sometimes I've believed as many 
as six impossible things before breakfast.”
~ The Queen, in Lewis Carroll’s "Alice in Wonderland"

"Nary a day goes by that we are not invited to suspend disbelief, to take leave of our senses, and to accept on the one hand the utterly preposterous, and on the other the inexplicably divine.

We rise every Sunday, a small miracle in itself. Like many Dear Readers, we take our coffee (flat white, extra shot) as if it were a matter of course, scarcely appreciating the many hands that went into its careful production. Our eggs, likewise, arrive on our plate, hearty and nutritious, as if delivered by angels in aprons. As for the bacon, it is as though Demeter herself husbanded the perfect breakfast drift, with our very taste buds in mind.

Our clothes, too, are delivered from exotic lands... Bangladesh, Vietnam, Sri Lanka... sewn by gentle hands, packed by calloused ones, then shipped and freighted across the wine dark seas to anonymous nobodies, hunched in front of laptop screens. These gadgets, in turn, are assembled, meticulously and expertly, by people we will never meet, in factories we will never visit. They are imagined by futurists, engineered by geniuses, and distributed to the far reaches of the known world on vessels and vehicles of unimaginable complexity.

And yet, what have we done to deserve such a bounty? What new land did we discover? What disease did we cure? What invention did we bestow upon mankind, that we are lavished with such luxury? Nada. Nil. Zilch.

No Ode to a Grecian Urn flowed from our pen. No Eureka! moments sprang from our cranium. No complex machines, statues of David or unfinished symphonies emanated from our hallowed being. And still, we can summon a private chauffeur with the click of a button, as easily as a king might command his cavalry. Expert chefs will prepare our meal, in any cuisine of our choosing, and deliver it to our door within the hour. And if we so wish, we can do as poor Dedalus only dreamed of: board a flying contraption and soar through the heavens to any destination on God's green earth.

We mention such wonders, if only in passing, to underscore the precarious nature by which the global economy hangs together... and how easily it can all be disrupted, especially by well-meaning world improvers, who would ignore the lessons of history only to impose their top-down, command economy style “solutions” to problems of their own making."
"Joel Bowman and Byron King: If we only knew what we know."
"Earlier this week, we spoke to Harvard-trained geologist, geopolitical expert and all round man-of-letters, Byron King. What Byron doesn’t know about the energy markets may well not be worth knowing. And what he sees coming down the proverbial pike should alarm people who enjoy things like... oh, functioning light switches, buttons on their shirts, antibiotics, white in their paint, landing gear on their aircraft, steel in their bridges. You know, the kind of stuff we are routinely invited to take for granted, until it disappears. 

Over the course of a freewheeling hour or so, Byron warned of the impending molecule crisis (“it’s not just energy, there’s a shortage of everything...”) the folly of the Great Energy Transition (“turns out you can’t power the world with Facebook ‘likes’ and invitations to your birthday”) and the geopolitical risk of offshoring critical industry, particularly in the “stuff economy.” You’ll find our conversation with Byron in this week’s (Feb. 10) episode of the Fatal Conceits podcast and transcript, right here…" 

Gregory Mannarino, "Markets, A Look Ahead: What To Look For, Make The Right Moves Now!"

Gregory Mannarino, 8/28/22:
"Markets, A Look Ahead:
 What To Look For, Make The Right Moves Now!"
Comments here:

The Daily "Near You?"

Kannapolis, North Carolina, USA. Thanks for stopping by!

"Biden's FBI: FBI Leaders Knew They Were Lying"

Tucker Carlson, 8/26/22:
 "Biden's FBI: FBI Leaders Knew They Were Lying"
"Fox News host Tucker Carlson voices his concerns about 
the FBI Hunter Biden story cover-up and its impact on the 2020 election."
Comments here:
"For the land of the free, and the home of the brave...'"

"What The World Owes You..."

Hat tip to "Who is Robert Malone" for this material.
"Never fool yourself, and remember that 
you are the easiest person to fool."
- Richard Feynman

"L'appel Du Vide"

 

"The Real IRS Hunt"

"The Real IRS Hunt"
by Martin Armstrong

"There is NOTHING that the politicians EVER say that is the truth. Hiring 87,000 new IRS agents is NOT to go after billionaires as they claim. There are ONLY 614 billionaires in the United States. Clearly, you do not need 87,000 new agents to hunt down billionaires – they are coming after you!

There is no loose change in taxes the higher you go up in income. You then need professionals to handle the taxes and they cross every “t” and dot all the “i”s. They are targeting anyone with an LLC and will challenge all expenses. Don’t forget, if you go to dinner with a client, you can only write off 50% of the expense. Of course with COVID, we have a whole new crisis in taxes. The commuting costs evaporated working from home. What about writing off a portion of the home now if you no longer go to the office? Suddenly, COVID really complicated things over the past two years. Even if your house burns down, the IRS denies a tax deduction for the loss. Protesters against the IRS are just coincidently targeted for audits – purely coincidental. Obama used the IRS to target the Tea Party. The DOJ waited two years and then quietly dismissed any criminal charges against IRS agents. This is what we will expect for now they will target small business and protesters in climate change.

They do not need 87,000 new agents, armed to the teeth, to hunt down just 614 billionaires. It made good press, the same as when they introduced the income tax back in 1913 and SWORE on the soul of their dead mother and all their relatives it would apply only to the rich. 
Remember the cops raided the wrong house, killed the guy, and then they claimed he was an UNDOCUMENTED alien who had no Constitutional Rights, and thus it was OK to kill him. How about the wrong house raid where they kill the man and his dog but then kill a cop responding to a break-in – remember that one? There are so many where the cops storm the wrong house, the resident this it’s a break-in and defends himself only to be shot dead. I’m sure we will all sleep well knowing 87,000 IRS agents, armed to the teeth, are being trained to storm houses and released on society after 3 months worth of training.

In Canada, Trudeau is arming climate change police to do the same thing. Let’s face the facts. We the people are now the enemy – not Putin! This is the consequence of Marxism. We are nothing more than economic slaves."
And so...we sat willfully ignorant and stupidly silent and let all this happen...
"Never, ever forget that nothing in this life is free. Life demands payment in some form for your "right" to express yourself, to condemn and abuse the evil surrounding us. Expect to pay... it will come for you, they will come for you, regardless. Knowing that, give them Hell itself every chance you can. Expect no mercy, and give none. That's how life works. Be ready to pay for what you do, or be a coward, pretend you don't see, don't know, and cry bitter tears over how terrible things are, over how you let them become."
- Ernest Hemingway, "For Whom the Bell Tolls "
So, Good Citizens, don't be surprised when this happens, to you!
And it will...

"How It Really Is"

And THIS is what YOU are paying for, all over the country...
$300 BILLION!
Proud of your kids, parents?
Full screen recommended.
Very strong language alert!
Well, let's go Brandon, and them too! All of them!

"Shopping At Jungle Jim's! The Craziest Grocery Store In The World!"

Full screen recommended.
Adventures with Danno, 8/28/22:
"Shopping At Jungle Jim's! 
The Craziest Grocery Store In The World!"
"In today's vlog we are taking you with us on a shopping Adventure through Jungle Jim's international Market! Jungle Jim's is the largest international Market in the United States! With foods from over 70 different countries, and hundreds of thousands of products, we invite you to join us as we show you everything this world-renowned farmers market has to offer!"
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Saturday, August 27, 2022

"Brace For The Most Dramatic Shutoffs As People Can’t Afford To Pay Their Electric Bill"

Full screen recommended.
"Brace For The Most Dramatic Shutoffs As People 
Can’t Afford To Pay Their Electric Bill"
by Epic Economist

"As the worst energy crisis in modern times unfolds across the United States, tens of millions of Americans are now experiencing energy poverty. Stressed supplies and a growing demand amid this summer’s blistering temperatures are leading to the highest prices in a generation. While real wages tumbled 3.6 percent over the past year, electricity prices shot up 16 percent, squeezing consumers. Unfortunately, things are about to get even worse for countless families in the nation, with the U.S. facing a looming crisis of utility shutoffs as a record-breaking number of households fall behind on their power bill payments. Businesses are suffering, too. And a series of shutdowns are set to occur as energy costs eat a larger share of business profits and consumer spending dramatically shrinks.

Natural gas is responsible for powering up nearly 40% of the US electric grid. On Tuesday, NatGas prices soared to the highest levels since 2008. Since June 2020, natural gas is up a staggering 525%. Meanwhile, electricity continues to rise to a blistering 30% year on year. Consequently, more and more people are scrambling to keep up with the rising costs. That’s why utility shutoffs have become more common all around the nation, with lower-income households now thousands of dollars behind on their power bills.

Several power companies reported a surge in non-payment customers. In California, PG&E Corp revealed that there had been a 40% spike in the number of residential customers behind on payments since February 2020. In New Jersey, the Public Service Enterprise Group exposed that the number of customers at least 90 days late has risen 30% since March. Prices for natural gas have been soaring worldwide following the Ukraine crisis. Russia is a major supplier of natural gas to Europe, but the Kremlin decided to retaliate against western sanctions by halting plans to open a key new pipeline, and disrupting Russian exports to Europe. In response, the U.S. government boosted gas exports to European allies, constraining domestic supply and raising prices at home.

The compounding effect of soaring energy bills, rising costs and rapidly declining consumer purchasing power is leading businesses all around Europe to face financial hardships. The U.S. is likely to see a massive wave of business shutdowns as well over the next few months. In fact, Epiq data shows that bankruptcy filings have started to tick back up again. The total number of new commercial and consumer bankruptcies filed in July grew 33.5% over the month prior, according to Epiq, with consumer filings increasing by 34% and commercial cases jumping by 26%.

For their part, U.S. consumers are financially tapped out. They've already maxed out credit cards, depleted savings, and have seen wage gains wiped out due to higher prices of virtually everything. Now, they’re at risk of losing power and set to face another dark winter. The next few months are going to be exceedingly difficult. Things are already starting to get really crazy out there, and global events are going to accelerate even more once the summer is over."

"Banks Are Closing Accounts For No Reason"

Full screen recommended.
Dan, iAllegedly 8/27/22:
"Banks Are Closing Accounts For No Reason"
"We get warning after warning about the banks. Now banks are closing accounts for no reason at all. One of the subscribers sent me a letter where all the bank accounts that he has are being closed for no reason."
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Musical Interlude: Gnomusy (David Caballero), "Footprints On The Sea"; "Dolmen Ridge"

Gnomusy (David Caballero), "Footprints On The Sea"
Gnomusy (David Caballero), "Dolmen Ridge"

"A Look to the Heavens"

"Spiral galaxy NGC 4651 is a mere 35 million light-years distant, toward the well-groomed constellation Coma Berenices. About 50 thousand light-years across, this galaxy is seen to have a faint umbrella-shaped structure (right) that seems to extend some 50 thousand light-years farther, beyond the bright galactic disk. The giant cosmic umbrella is now known to be composed of tidal star streams. The streams themselves are extensive trails of stars gravitationally stripped from a smaller satellite galaxy that was eventually torn apart.
Recent work by a remarkable collaboration of amateur and professional astronomers to image faint structures around bright galaxies suggests that even in nearby galaxies, such tidal star streams are common. The result is predicted by models of galaxy formation, including the formation of our Milky Way."

Chet Raymo, “Exile”

“Exile”
by Chet Raymo

   “ Are we truly alone
    With our physics and myths,
    The stars no more
    Than glittering dust,
    With no one there
    To hear our choral odes?”

“This is the ultimate question, the only question, asked here by the Northern Irish poet Derek Mahon. It is a poem of exile, from the ancient familiar, from the sustaining myth of rootedness, of centrality. A poem that the naturalist can relate to, we pilgrims of infinite spaces, of the overarching blank pages on which we write our own stories, our own scriptures, having none of divine pedigree.

Yes, we feel the ache of exile, we who grew up with the sustaining myths of immortality only to see them stripped away by the needy hands of fact. We scribble our choral odes. Who listens? We speak to each other. Is that enough? Having left the home we grew up in, we make do with where we find ourselves, gathering to ourselves the glittering dust of the here and now.

Are we truly alone? Mahon again:
    “If so, we can start
    To ignore the silence
    Of infinite space
    And concentrate instead
    on the infinity
    Under our very noses -
    The cry at the heart
    Of the artichoke,
    The gaiety of atoms.”

Better to leave the blank page blank than fill it with sentimental hankerings for home, with those prayers of our childhood we repeated over and over until they became a hard, fast crust on the page. Incline our ear instead to the faint cry that issues from the world under our very noses, from there, the tomato plant on the window sill, the ink-dark crow that paces the grass beyond the panes, the clouds that heap on the horizon - the dizzy, ditzy dance of atoms and the glitterings of stars.”

"The Level Of Intelligence..."

"If man were relieved of all superstition, and all prejudice, and had replaced these with a keen sensitivity to his real environment, and moreover had achieved a level of communication so simplified that one syllable could express his every thought, then he would have achieved the level of intelligence already achieved by his dog."
- Robert Brault

The Poet: Kuroda Saburo, "I Am Completely Different"

"I Am Completely Different"

"I am completely different.
Though I am wearing the same tie as yesterday,
am as poor as yesterday,
as good for nothing as yesterday,
today
I am completely different.

Though I am wearing the same clothes,
am as drunk as yesterday,
living as clumsily as yesterday, nevertheless
today
I am completely different.

Ah...
I patiently close my eyes
on all the grins and smirks,
on all the twisted smiles and horse laughs -
and glimpse then, inside me
one beautiful white butterfly
fluttering towards tomorrow."

- Kuroda Saburo

The Daily "Near You?"

San Jose, California, USA. Thanks for stopping by!