Friday, September 2, 2022

"Our Major Cities Are Being Transformed Into Stomach-Churning Cesspools Of Squalor"

Full screen recommended.
"Our Major Cities Are Being Transformed Into 
Stomach-Churning Cesspools Of Squalor"
by Epic Economist

"All over America, large portions of our major cities are becoming disgusting cesspools of misery. The standard of living that fueled the growth and prosperity of previous generations no longer exist. And now, we’re confronting a decaying reality of rising poverty, homelessness, and substance abuse even in some of the nation’s wealthiest areas. The decline of our main metropolitan areas is just a reflection of an economy that is steadily falling apart. And the greatest threat we are currently facing is a rapidly deepening downturn that is likely to unleash civil unrest all around the country. But while some are rushing to flee dysfunctional cities before another black swan event hits, millions remain trapped in stomach-churning conditions, completely unaware of the dangers that lie ahead.

Not long ago, columnist LZ Granderson authored an op-ed piece in which he described what life is like in Los Angeles right at this moment. In 2021, LA spent over $620 million in tax dollars just to address its homelessness crisis, and yet, the homeless population jumped by 16% in the past year alone, representing an additional 60,000 people living on the city’s streets. “As a Los Angeles resident, I am among those who wonder what the mayor’s office is doing. When I lived downtown it was virtually impossible to walk a full block in any direction without seeing a homeless person. In Silver Lake where I live now, there are tent cities. On my drive to work, I see people living underneath the highway overpasses. It’s no longer Skid Row here. The skid is everywhere,” Granderson wrote.

Sadly, that description could also apply to San Francisco, Portland, Seattle, Denver, Minneapolis, Chicago, Detroit, St. Louis, Memphis, Cleveland, Baltimore, Philadelphia, and countless other U.S. cities. Similarly, in New York, giant piles of trash are being spotted in every corner of the city. And despite the rampant levels of societal rot, it turns out that it’s incredibly expensive to live among the garbage. Since January, rents rose 33 percent in New York City, 16 percent in Los Angeles, and 12 percent in Chicago. But many Americans are realizing that living in these decaying places is unsustainable, and they’ve been doing everything they can to relocate before another disaster, emergency or downturn emerges.

With housing affordability issues worsening, and a huge part of the population at risk of facing energy poverty this winter, have you already stopped to wonder what are those cities going to look like once we get deep into the ongoing economic downturn? Most people will continue to live in denial until the very end. And even though 61 percent of the population is living paycheck to paycheck, people continue to rack up debt as if there was no tomorrow. Americans are drowning in debt, but the cost of living continues to climb much faster than inflation, leaving us imprisoned in a system that is doomed to fail. At this point, everyone should be building up their financial cushions, because what is coming is not a joke. The time to wake up is now. Those who refuse to face this reality will find themselves ill-prepared to handle the very harsh economic environment that is ahead."

"Greatest Crash Ever Will Cause Hell On Earth; System Is Breaking Apart; Markets On Borrowed Time"

Jeremiah Babe, 9/2/22:
"Greatest Crash Ever Will Cause Hell On Earth; 
System Is Breaking Apart; Markets On Borrowed Time"
Comments Here:

"The Forgotten Man"

"The Forgotten Man"
by Jeffrey Tucker

"The classic movie "Gold Diggers of 1933" featured a song-and-dance number called “Remember My Forgotten Man.” The movie was ostensibly about how farm girls who moved to the city and faced economic depression would do whatever it took to get along. That was the theme of the opening song, “We’re in the Money,” the lyrics of which are truly hilarious once you understand the point.

But the deeper theme was summed up in the final number about the Forgotten Man. It was based on a hugely impactful essay by the same name written by sociologist William Graham Sumner in 1916. It’s the story of a lost generation of young men who lost jobs, social status, dignity and hope due to war, conscription and generally being treated like animals by the state.

In 1923, we saw a huge loss in life expectancy among the young generation. This was due to drugs and alcohol poisoning plus suicide. The loss was particularly poignant at that time because we had seen nothing but progress since 1870, when the great American economic boom took place that transformed life on Earth. The Great War was an interruption in this progress. As an attempt to shape people up, the U.S. government under expert medical advisers implemented nationwide alcohol prohibition. It was a disaster, driving people from controlled liquor to bathtub gin and resulting in poisoning.

Disaster Then and Now: Such dramatic shifts in vital statistics are worth a focus. They signal massive calamity. That’s how we might sum up the CDC’s newest statistical release that shows how three years of life expectancy have been lost in a mere two years. Stunning.

It’s not the fault of COVID. The same data sets show how COVID deaths in total were borrowed from what might have otherwise been flu and other deaths by respiratory ailments. In other words, viral crowding out. The average age of death from COVID is equal to or above life expectancy in 1919. The real problem traces to despair and ill health caused by the pandemic response. That’s right: In the name of protecting our health, governments around the country wrecked health. That should not surprise us at all. It’s consistent with the law of unintended consequences.

This mess is showing up in every area of economic life. The latest employment report shows a slight but mostly meaningless uptick in the unemployment rate. Buried in the report and getting almost no public attention was the data on worker/population ratios and labor force participation rates. These are still nowhere near recovered from 2019.

At least a million people are missing from the workforce. It particularly affects men, whose labor force participation is shockingly low. In terms of job creation, there are more and more jobs being created. True. How is this magic possible? A flat percentage of the workforce is accepting two or three part-time jobs, scrambling just to stay ahead of inflation.

Meanwhile, at the Fed: I’ve got a theory about what the Fed is doing now. They know two things for sure: Recession is already here, awaiting final confirmation, and inflation is still with us in one form or another. They have decided to announce this as policy to get ahead of reality. This way they can say: This is exactly what we were intending!

Truth is that they have no idea what they are doing. The interest rate increases are cooling off money expansion but that might be entirely because the economy is slowing through lending restrictions, particularly as it affects housing. Beyond that, they have no real means to sop up the $6 trillion-plus in new liquidity that they dumped on the markets between March 2020 and March 2022. They know that this new money has to make its way through the system through larger prices.

They further know that prices in general are NOT going to go down. At best, they will in general settle down to a more reasonable rate of increase. All told, 15% of the purchasing power of the dollar has been stolen in a mere 2½ years. That’s something we’ve not seen in 40 years but probably not really since the latter days of the American Revolution.

Knowing all of this and aware that the Fed has no power to do anything about it, the new policy is to act like this was the whole point of the policy, thus perpetuating the myth that these masters of money have intelligence and competence.

The Red Dictator: No summary of the present calamitous moment would be complete without an assessment of the goings on of the Biden administration. The creepy red dictator-chic backdrop to Biden’s fiery speech yesterday was no accident. These people are facing disaster and ready to try anything to distract the country from the ongoing economic meltdown. Therefore, they decided to take a page out of the 1932 book by Carl Schmitt called "The Concept of the Political."

In Schmitt’s view, the best means to hold onto power is to reinforce a friend/enemy distinction. You need to rally a nation of friends around the idea that an enemy exists among them and in order to survive that enemy needs to be extinguished. He tried this last summer by the demonization of the unvaccinated. The same tactics are being intensified now in an effort to call all Trump sympathizers “semi-fascists” who are a threat to democracy itself.

Chutzpah: Now, this tactic really requires some chutzpah, especially if you are going to deliver the message from a quasi-fascist stage with lighting pulled from interwar dictator rallies. But there you go. There is something in the heart of man, they believe, that longs for an iron hand. If they really are planning to unleash an army of tax collectors, attempt to arrest the former president and punish all political dissent with censorship and media demonization, they might as well go the full way.

Will this work? I’m no longer willing to offer a prediction either way. Dictatorship in history is far more politically popular and effective than anyone likes to admit. We can only await the polls, provided we can trust them. At this point, we might find that people are afraid to tell pollsters their true views. This is what happens at a time of growing state power.

Forgotten, Not Gone: We might look back at the summer of 2022 as the calm before the storm. Inflation is certainly returning. It will leave electricity and re-enter oil. It will leave financials and go back to groceries. It will leave housing and re-enter durable goods. Finally, it will hit commodities. By this winter, layoffs will increase and a new Republican Congress will be frantically and wildly fighting with a hateful White House and administrative state. There will be no progress toward fixing anything for another two years.

Meanwhile, the demographic problems we face today are truly grim, and potentially more devastating than the economic ones. Take care my friends: There is never a case for despair, only ever more reasons to reach deep and find a source of hope from within."
Full screen recommended.
"Gold Diggers of 1933", "We're in the Money"
The famous opening song from the film "Gold Diggers of 1933", performed by Ginger Rogers. All musical scenes in the film, including this one, were choreographed by the legendary Busby Berkeley.

Gregory Mannarino, "The Debt Market Hyper-Bubble Remains Unstable And Could Crack At Any Moment - Be Ready"

Gregory Mannarino, PM 9/2/22:
"The Debt Market Hyper-Bubble Remains Unstable
 And Could Crack At Any Moment - Be Ready"
Comments here:

"Banks Don’t Want to Give You Your Money"

Full screen recommended.
Dan, iAllegedly, 9/2/22:
"Banks Don’t Want to Give You Your Money"
"Thanks for making it near impossible for you to take withdrawals from the bank. They are doing everything they can to limit your access to your money. This includes making you wait three weeks for a withdrawal and having you provide documentation to prove your identity. It’s just ridiculous."
Comments here:

Musical Interlude: 2002, “Cycle Of Time”

Full screen mode recommended.
2002, “Cycle Of Time”

"A Look to the Heavens"

"Braided, serpentine filaments of glowing gas suggest this nebula's popular name, The Medusa Nebula. Also known as Abell 21, this Medusa is an old planetary nebula some 1,500 light-years away in the constellation Gemini. Like its mythological namesake, the nebula is associated with a dramatic transformation.
The planetary nebula phase represents a final stage in the evolution of low mass stars like the sun, as they transform themselves from red giants to hot white dwarf stars and in the process shrug off their outer layers. Ultraviolet radiation from the hot star powers the nebular glow. The Medusa's transforming star is near the center of the overall bright crescent shape. In this deep telescopic view, fainter filaments clearly extend below and to the left of the bright crescent region. The Medusa Nebula is estimated to be over 4 light-years across.”

"The Heart of Humanity"

"The Heart of Humanity"
by Madisyn Taylor, The DailyOM

"Sitting with our sadness takes the courage to believe that we can bear the pain and we will come out the other side. The last thing most of us want to hear or think about when we are dealing with profound feelings of sadness is that deep learning can be found in this place. In the midst of our pain, we often feel picked on by life, or overwhelmed by the enormity of some loss, or simply too exhausted to try and examine the situation. We may feel far too disappointed and angry to look for anything resembling a bright side to our suffering. Still, somewhere in our hearts, we know that we will eventually emerge from the depths into the light of greater awareness. Remembering this truth, no matter how elusive it seems, can help.

The other thing we often would rather not hear when we are dealing with intense sadness is that the only way out of it is through it. Sitting with our sadness takes the courage to believe that we can bear the pain and the faith that we will come out the other side. With courage, we can allow ourselves to cycle through the grieving process with full inner permission to experience it. This is a powerful teaching that sadness has to offer us - the ability to surrender and the acceptance of change go hand in hand.

Another teaching of sadness is compassion for others who are in pain, because it is only in feeling our own pain that we can really understand and allow for someone else’s. Sadness is something we all go through, and we all learn from it and are deepened by its presence in our lives. While our own individual experiences of sadness carry with them unique lessons, the implications of what we learn are universal. The wisdom we gain from going through the process of feeling loss, heartbreak, or deep disappointment gives us access to the heart of humanity."

"Remember: Your Mission Isn’t Done"

"Remember: Your Mission Isn’t Done"
by John Wilder

"One winter, while hunting elk up on Wilder Mountain, we had, well, an issue. We were about fifteen or twenty miles in from the nearest pavement, and headed home. It was overcast. It was lazily spitting snow, with a breeze that was slowly picking up. Looking to the west, where there should be a resplendent sunset, the sky was dark, heavy, and pendulous with brooding storm clouds that blotted out even a hint of the winter Sun.

That was when the problem hit. Pa Wilder, while driving over a “road” that was little more than a common path cut by four-wheel-drive vehicles over the course of decades of hunting and firewood gathering, drove over a small branch that had fallen in the road. Not a problem, right? Well, it was a problem. In this case, the branch had the stem of a broken off limb, sticking straight up. Pa drove the GMC Jimmy® right over that sharp shard of limb. In the span of a dozen or so feet, we had lost not one, but two tires. It penetrated the center of each tire, poking a hole the size of a half-dollar coin in each.

Amazingly, we had lost another tire already that day, already. We now had a four-wheel drive with five tires and three flats. In winter. As a blizzard approached and night was setting in. And all of this was in country where it could easily hit -40°F as night descended.

I bring this up to say that we had a mission. Our mission at that point in time was to get home. There were several challenges, and I’m pretty sure if most people were in the backcountry as a blizzard was descending that the last person they would choose would be a 12-year-old boy to be a guy on the team. Which is sad.

Children can have missions. Children can face danger. Children can do important things. We forget that because we’re in a society that doesn’t give children important things to do, mostly. Midshipmen in the Royal Navy were as young as 14. To be clear: Midshipmen in the Royal Navy were 14. A midshipman is an officer. If you were unaware, the Royal Navy wasn’t a social club, and often those boys fought in wars. As officers. So we forgot that boys can be given real, substantial responsibility. But there’s also the chance that we forget something else: that each of us is on a mission. And each of us has a role to play.

We currently are in a place where freedom is an increasingly precious and rare commodity. It’s not just in the United States – Trump may have said, “Make America Great Again” but down under they seem to be following the “Make Australia A Prison Again” plan. And Canada? I love our Canadabros that come by regularly (Canada is the second-largest readership here), but Canada seems to be determined to become the Soviet Above the 49th Parallel, led by that Tundra Trotsky, Trudeau.

It seems like in this day and age we all have a mission. Just like 12 isn’t too young, 80 isn’t too old. Frankly, we need all hands on deck. The size of the mission is the largest on the North American continent since 1774. I almost wrote that the idea was to preserve the Constitution and the Republic. Seriously, I’d love nothing more than to write that.

I’d love for that to happen. I’d love for us to come together. I’d settle for the laws to look like they did 90 years ago. Heck, even 70 years ago. That would be preferable to today. A reversion, sadly, is impossible. Whatever will come from tomorrow will not look like the past. It may be a shadow. The Holy Roman Emperors weren’t Roman. And the Holy Roman Empire wasn’t the Roman Empire. Or it may be something entirely different. I think it will be entirely different.

And that’s where you come in. Yes, you. You have a mission to create a new nation here. It won’t look like what we have today – it simply cannot, since we have created a situation that is at the far end of stability. I assure you, you play a part. The initial conditions of what happens are crucial to the final outcome. If George Washington had wanted to be King? If Thomas Jefferson had been a Martian Terminator Robot like the one that keeps triggering my motion detector lights at night even though the sheriff won’t believe me?

Things would be entirely different. And you are important. Your actions in the next decade are critical to the creation of what will come after. Do we want a nation that will be based on slavery, control, and that eternal boot stamping on a human face? I’d vote no. If you’re a regular here, I’m betting that’s your vote, too.

If so, let me shout as loudly as I can: You Are Not Done. This is Not Over. What is it that you can do to create a world where freedom beats slavery? What can you do to create a world where children can run free from the indoctrination of an all-powerful, all-regulating state?

There’s a lot. Our nation was, thankfully, built on the consent of the governed. Most things that local government provides, we want. To quote Python, Monty: "But apart from the sanitation, the medicine, education, wine, public order, irrigation, roads, the fresh-water system, and public health, what have the Romans ever done for us?"

To be clear: the Federal government does very little to make anything in the list above better, and often does a lot to make them worse. Except for the interstate highways. Those are actually pretty cool.

But I will tell you – you are the seed of the future of this country. You are the seed of the future of this continent. You are the seed of the future of this world. It doesn’t matter how old you are. The time is coming, and coming quickly where great injustices will be attempted. And you are the seed to make what comes after better for humanity. Would the world rather live in 1950’s America or 1930’s U.S.S.R.?

The choice is stark. Your mission is clear. How will you act to make your county, your state, your country one where free men can walk? It’s up to you.

Back to the mountain. For me, it was a game. That’s the advantage of being 12. Pa Wilder and my older brother (also named John due to a typographical error) and I wheeled the tires so we had two good ones in front. We locked in the hubs on the four-wheel drive.

I don’t know if you’ve ever tried to drive up a mountain path in a car with only two tires in a snowstorm as it got darker every minute. It doesn’t work very well. The flat back wheels couldn’t push the Jimmy® up the hill. That’s where I came in. It was my job to take the winch cable, run up the hill, and loop the cable up the base of a tree. Pa would then use the combination of the winch and the two front tires to pull the Jimmy© up. Tree by tree, cable length by cable length, we worked pretty flawlessly as a team to get the Jimmy™ to the top of the hill. Thankfully, for the most part it was downhill from there. Although Pa was driving on the rims, we got it home.

Was there danger? Certainly, there always is. We had snow, so we had water. Ma would have called the Sheriff not too long after dusk, and even though the mountains were a labyrinth of roads, people had seen us. We also had matches, hatchets, wool blankets, gasoline, and a mountain’s worth of firewood to keep us warm. But we also had a mission. Each of us served our purpose, and we got home.

Pa was a bit raw about having to buy two new rims and three new tires for a day’s worth of not seeing any elk, though. For the record, I never saw a single elk when hunting with Pa. I’m telling you, that man knew how to hunt. Finding? Sometimes I think he just wanted a good drive in the woods and hike with his boys, teaching them about living. Teaching them about missions, and the part that they play, whether they know it or not.

In this life, we all have a mission, and we all play a part in it. I can assure you that your part is not done, because you’re above ground, breathing, and reading this. I hate to repeat something so trite, but in this case, it’s true: you are not done. This is not over. And the whole world depends...on you. It’s up to you. You will create the future.

So, go do it."

"A Long March Through The Night..."

"The life of Man is a long march through the night, surrounded by invisible foes, tortured by weariness and pain, towards a goal that few can hope to reach, and where none may tarry long. One by one, as they march, our comrades vanish from our sight, seized by the silent orders of omnipotent Death. Very brief is the time in which we can help them, in which their happiness or misery is decided. Be it ours to shed sunshine on their path, to lighten their sorrows by the balm of sympathy, to give them the pure joy of a never-tiring affection, to strengthen failing courage, to instill faith in times of despair."
- Bertrand Russell
This always suggested the March of Mankind through the ages, 
and, incredibly, despite ourselves, we march on...
Vangelis, "Alpha"

Bill Bonner, "Bonds, Lame Bonds"

"Bonds, Lame Bonds"
Welcome to the first bear market in bonds in a generation.
by Bill Bonner

Poitou, France - "The most important story in finance was hardly mentioned in the popular press. But Bloomberg is on the case: "Global Bonds Tumble Into Their First Bear Market in a Generation." "Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a generation. The Bloomberg Global Aggregate Total Return Index of government and investment-grade corporate bonds has fallen more than 20% below its 2021 peak, the biggest drawdown since its 1990 inception…

Soaring inflation and the steep interest-rate hikes deployed by policy makers in response have brought to an end a four-decade bull market in bonds. That’s creating a particularly difficult environment for investors this year, with bonds and stocks sinking in tandem…Bloomberg’s bond gauge is down 16% in 2022, while MSCI Inc.’s index of global stocks has seen a larger decline.

Dear Readers are reminded that we play the long game, here at Bonner Private Research. We have no idea what stocks will do tomorrow… nor can our guesses about tomorrow’s inflation be relied upon. Instead, we just try to ‘connect the dots’ in order to understand what is going on. We look for the Primary Trend… the deep tide beneath the waves… the one that will raise our boats for many years – or sink them.

Here is what we see: The stock market topped out in December, 2021, with the Dow over 36,000. The bond market topped out in the summer of 2020, with the yield on the 10-year Treasury well below 1%. This is not just a pause in the Bull Market of the last 4 decades; it marks a new Primary Trend.

A 700 Year Drop: Bonds – and the interest rates they reveal – tell us which way the strong undercurrents are running. They measure (indirectly) how much capital is available and (directly) how much it costs. A place like Switzerland, with abundant savings and reliable borrowers, typically enjoys low interest rates. A West Baltimore, ‘payday loan’ joint or a poor country such as Haiti or Burkina Faso will have much higher rates, because there is less capital available… and borrowers might not pay it back. And generally, as the world grew richer, interest rates went down. Paul Schmelzing, at the Bank of England, showed them falling for the last 700 years.

But the Fed got up to mischief 20 years ago – dropping its key rate from above 6% to below 1%. Was the country suddenly richer? Were savings more abundant? Of course not. The Fed was giving out a lie. What is important about interest rates is not that they are high or low, but that they are honest. And the Fed was manipulating credit prices in order to give the impression that we were richer than we really were. The idea was to boost stock prices, increase spending and stimulate the economy. Then in 2008, it repeated the scam, this time pushing rates down to ‘effectively zero.’ In real terms, adjusted for inflation, the Fed Funds rate stayed below zero for more than a decade – where it remains still.

No wonder speculators acted as though money had no value – bidding up prices of meme stocks and cryptos to preposterous levels. No wonder businesses borrowed to buy back their overpriced shares. And no wonder the US government spent trillions on unwinnable wars abroad and jackass boondoggles at home.

And no wonder, the country now has $90 trillion of debt – public and private… so much that the pain of reducing inflation will now be likely more than the elite can stand. In order to stop inflation, the Fed must raise interest rates. And every 1% increase – if applied to the whole debt load – would add $900 billion in extra expense annually.

Dow Below 20,000? Alert readers will wonder: where does the money go? If debtors pay out an additional $900 billion, creditors must take in an additional $900 billion. The economy has lost not a single penny, right?

Not exactly. As interest rates rise, fewer people borrow and more existing credits are canceled or go bad. Our monetary system is based on credit; a decline in the amount of credit outstanding is the same as a contraction in the money supply…so, a decline in the bond market tells us that the tide of credit, on which the whole economy – real and fake – floats, is going out.

Already, the Dow boats are down 15%. The 10-year Treasury bond yield has more than quadrupled from its 2020 low. And mortgage rates have doubled. But these are, so far, just mild corrections. If this is the Primary Trend we think it is, it may take us all the way down to where the last one began – in 1980. If so…

The Dow will keep dropping… down below 20,000.

Bonds will be crushed. Low coupon bonds will once again be regarded as “certificates of guaranteed confiscation” as they were in the ‘70s.

Mortgage rates will shoot up over 18%.

And America – economically and politically – will turn into a quivering jello of confusion and despair.

We remind readers too of a Bonner dictum: the force of a correction is equal and opposite to the claptrap that preceded it. By that alone, the developing Primary Trend should be one for the record books."
Related:
"What’s frightening is the amount of leverage and debt 
we have now compared to 2007. This unwind will be biblical."

The Daily "Near You?"

Georgetown, Maine, USA. Thanks for stopping by!

"The Western-System is More Fragile Than Ever... Here's What Comes Next"

"The Western-System is More Fragile Than Ever...
 Here's What Comes Next"
by Chris MacIntosh

"Two things I want to point out. One is that John Locke was right. "Government has no other end than the preservation of property. Tyranny is the exercise of power beyond right… there is only one thing which gathers people into seditious commotion, and that is oppression." -John Locke If ever there was a catalyst to galvanize and accelerate an alternate system or systems to provide relief from the tsunami of oppression coming at us, then surely this is it.

And secondly… the galvanizing of current existing alternative systems, which, if I’m even half right, will morph during the course of the decade resulting in something that will be unrecognizable from its current state. While the Western "democratic" world focuses on ensuring the gender confused have tampons in the boys' loos, dramatic changes are afoot in that world outside of the narrow Western dominated MSM scope.

At the recently convened St Petersburg International Economic Forum Vladimir Putin put it like this: "To reiterate, these changes are fundamental, groundbreaking and rigorous. It would be a mistake to assume that at a time of turbulent change, one can simply sit it out or wait it out until everything gets back on track and becomes what it was before. It will not."

Now think what you will of Vlad but to discount his views is foolish. If nothing else his grasp of history, economics and realpolitik is vastly superior to any of the podium donuts in literally any western country today.

Differing ideologies, differing economic, political and social systems: As the central planners at the WEF, NATO, EU, UK, Canada, New Zealand, Australia and US administration press ahead with what can only be described as a tyrannical evil agenda, this creates a greater synergy and connectivity for those systems which are in disagreement, even if only marginally so.

"The enemy of my enemy is my friend": Remember… The Allies joined with Stalin in World War II in order to defeat Hitler. Go back to what we’ve seen taking place over the last, 40 odd years. The Western-led system has been de-industrializing, shifting manufacturing to Eurasia (China in particular), India, South East Asia and Latam (Mexico in particular).

Raw material production, especially in energy, has been shifted… largely to Russia from the Western Europeans, and from North America to the Middle East. The latter being both a reduction in North American energy production as well as leaving a power vacuum in the Mid-East, now rapidly being filled by China, Iran and Russia. This has now formed a system whereby the Eurasian leadership now controls vast amounts of the marginal manufacturing, energy and raw materials supplies.

A look at "our" system. That of the liberal West: Here, infrastructure is largely privatized and forms a natural monopoly, extracting rent from citizens directly while the taxes paid, ostensibly for said services, remains high. It is a double taxation system which has eroded the middle class, together with the de-industrialization mentioned which eroded the working class, offshoring their jobs while increasing the profits of the 1%.

The situation we find ourselves in now is one where the West finds itself burdened with an over indebted economy, where the middle-class rely on credit to finance their living standards, and the government relies on debt issuance to finance these living standards. I can’t think of a more fragile system than credit being used for consumption rather than production.

The result in the West is an extraordinarily high-cost system where housing, education, and everyday consumption is debt financed. The costs to businesses, (minimum wage, taxes, red tape, insurance, legal etc.), especially industrial production, are simply too high - and hence the "offshoring" of this work. Keeping this unsustainable system going, has led to the US ensuring - or more accurately, attempting to ensure - that other major economic blocs don’t seek better terms with the Eurasian bloc. Those economic blocs that are now under this system and collapsing with it are principally Western Europe, the UK and Japan.

Towards a Global Conflict: And for those who say "meh… look at Russia. Stupid, ignorant Ruskies. Their GDP is the same as Italy (3rd largest in Eurozone) and then look at the US. They’re massive." What these academics entirely miss is how GDP is measured. The GDP of the US in particular is based on companies such as Apple, Tesla, Facebook and Twitter, sprinkled with a healthy dose of mortgage backed securities, and an alphabet soup of "credit instruments".

Fine, but let me know how your Tesla drives when you can’t source the copper, lithium or various petrochemicals to manufacture it, let alone the electricity to power it. How great is that iPhone with Facebook and Twitter when food can’t get to your door because the fact is all this stuff just doesn’t work without oil, gas, petrochemicals and metals… all the things that Russia has.

The Western world is rapidly finding out where stuff actually comes from, and while that’s a painful experience, it is nothing compared to the grand picture here and how these competing systems are leading us towards a global conflict."
And so...finding out where stuff actually comes from...

Coming consequences will be a "painful experience" indeed...

Must Watch! Greg Hunter, "Weekly News Wrap-Up 9/2/22"

"Weekly News Wrap-Up 9/2/22"
Fraud, Lies, Psyops, Cheating For Midterms,
 More Vax Dead, More War
by Greg Hunter’s USAWatchdog.com

"The amount of psyops for the Deep State Dems to win in November is kicking into high gear. They are way behind in the real polls, but that does not stop them from lying to make you think otherwise in the phony polls. (As I have said in the past, the real approval rating for Biden is 11% to 12%.) This is why the Democrat strategy must include fraud, lies, psyops, cheating and rigging for Midterms come November. They sure as heck do not have any policy to make the lives of ordinary Americans better, unless you think killing your unborn baby or paying much more at the gas pump and grocery store will enrich your life. Don’t fall for the psyops. You are not hearing any good ideas from Democrats because they don’t have any.

Another week and more young healthy people die from “unknown causes.” When are we all going to say enough and call this what it is - people are being murdered from the bioweapon injections they passed off as a “vaccine.”

The War in Ukraine could have been stopped in April, but the UK and the West halted any hint of peace to stop the bloodshed. Meanwhile, Germany’s economy is about to totally shut down and destroy the lives of its citizens all in an effort to support Ukraine. Now, natural gas from Russia has been cut to zero as the Russians say the Nord #1 pipeline is down for repairs. When it reopens (and who knows when that will happen), it will be running at 20% of capacity, just like before. Germans are trying to find coal to burn so they don’t have to burn their furniture to stay warm this winter. If the economy shuts down anymore, can the banks also suffer from this? Deutsche Bank (DB) is in Germany, and the IMF has been calling it “the most systemically dangerous bank in the world” for the past few years. Is the German economic shutdown over this stupid war going to help or hurt DB?" There is much more in the 45-minute newscast.

Join Greg Hunter on Rumble as he talks about these 
stories and more in the Weekly News Wrap-Up for 9/2/22.:

Jim Kunstler, "Soul Man"

"Soul Man"
by Jim Kunstler

"I knew we were in for the business with that “soul of the nation” build-up ballyhoo, but I didn’t exactly expect Independence Hall to be decorated in blood red and sepulchral black à la the-mouth-of-hell for a sermon by the Lord of the Flies himself. Somehow his staff managed to get the Old Trickster to the fiery podium on-time, where, in his trademark inside-out and upside-down mode of argument, he inveighed wrathfully against the “grave threat to democracy” posed by an opposition laboring to undermine “our personal rights…the pursuit of justice [and] the rule of law.” Roger that, Kemosabe.

I confess, I was hoping to see MAGA superhero Homey D. Clown materialize in a puff of rainbow-colored smoke right up there beside the sulfurous incarnation of “Joe Biden.” “MAGA Republicans have made their choice,” the hypothetical president shouted. “They embrace anger… they live, not in the light of truth, but in the shadow of lies.” “I don’t think so,” Homey would have surely retorted. Upon which, Homey whaps the Party of Chaos’s front-man upside his hair-plugged noggin with a sock full of Milk Duds. “Homey don’t play that.” So much for reveries of true righteousness….

And thus went this watershed moment in our floundering nation’s politics du jour. Did you catch an odor of desperation in that marvelous spectacle? A politician does not declare war on half the country in a spirit of comity. Something’s up in this land and it don’t feel all comfy-cozy as we turn the corner on our election season. A lot of things are up, in fact, all of them kind of sketchy and dark.

“Joe Biden’s” guardian of the rule of law, the DOJ under Merrick Garland, is on a rampage, not just seeking long prison sentences on J-6 misdemeanor defendants, but now going after their very attorneys, officers of the court, for daring to represent them. There is the recent Mar-a-Lago caper, of course, in which the FBI snatched a bale of documentary evidence Donald Trump had collected detailing these agencies’ four-year campaign to overthrow him. And, having gotten their mitts on it, the AG declared all the material part of a bogus “ongoing investigation” in order to prevent the docs being introduced in Mr. Trump’s just-opened defamation and racketeering lawsuit against HRC, her posse of Lawfare ninjas, and most of the people who worked in leadership of the FBI and DOJ circa 2016-2021. In short, the FBI stole evidence of their own prior crimes to evade prosecution. Something tells me that’s not going to work out so well for AG Mr. Garland and Chris Wray of the FBI.

You realize, don’t you, that all of “Joe Biden’s” scripted maundering about “democracy” and “justice” and “the rule of law” is a smokescreen sent up to hide the many crimes committed by his shadowy managers just now breaking into disclosure, and they are running out of dodges and distractions to divert the pliable center of the voting public from seeing it all.

Following Mark Zuckerberg’s epic mistake telling Joe Rogan that the government used his company, Facebook, and Jack Dorsey’s Twitter, to squash the first amendment, the wheels came off any pretense that this was not direct interference in the 2020 election by activists in government. For a whole year, the FBI sat on evidence that candidate “Joe Biden’s” family was running an international grifting operation fronted by his son Hunter, and when news reports about the notorious laptop began to leak out, the agency used its considerable powers of intimidation to make the news disappear. Now the FBI fears the next step: who exactly in the agency managed that operation along with supervisory agent Timothy Thibault - hustled into retirement days ago after lawyering up - and who, in that exceedingly hierarchical org, approved of it? It’s all coming out now.

Thursday night, “Joe Biden” heralded a US economy firing on a gazillion cylinders. “American manufacturing has come alive across the heartland, and the future will be made in America, no matter what the white supremacists and the extremists say,” he declared. Is that so? Of course not. The country is verging on an economic catastrophe more consequential than the Great Depression of the 1930s, and the harbinger of it, a financial market crash, is sure to occur before November 8th. Everybody and his uncle on Wall Street knows that. The shadow regime behind “JB” knows that. He didn’t dare mention the word inflation, as if no one has noticed it. (Anyway, white supremacists did that.)

The regime is backpeddling so hard on its Covid-19 bullshit that it has burst clean through the looking-glass it rode into in 2021, when, in the name of “choice,” it mandated that millions of Americans submit to forced shots of unsafe and ineffective pharmaceuticals. They know we are entering another flu season with those millions of people tragically left with wrecked immune systems courtesy of the vaxxes. They see the numbers of mystery deaths happening right now in this country and the rest of western civ and they’re working furtively to attempt to change the story. Guess what? It’s not working. Too many people have seen the damage first-hand. We know exactly who is responsible for all that, and it’s not white supremacists.

The war in Ukraine instigated by “JB” and Company hasn’t panned out so well on any grounds - as a distraction from problems at home, as a geopolitical gambit against Russia, or as anything remotely beneficial to Ukraine itself. The endgame on all that approaches as Germany and the rest of NATO are forced to the negotiating table, with or without the USA’s cooperation, or else face a rapid return to the thirteenth century. The terms will end up being more embarrassing than the exit fiasco a year ago from Afghanistan. The voters will notice it had nothing to do with white supremacists. Yes, they will.

“I give you my word as a Biden, I’ve never been more optimistic about America’s future,” the old faker intoned last night. His word as a Biden? So sayeth the Soul Man."
Let's go Brandon!

Gregory Mannarino, "Important Updates"

Gregory Mannarino, 9/2/22:
"Important Updates"
Comments here:

"Strange Prices At Target! This Is Crazy! What's Coming?"

Full screen recommended.
Adventures with Danno, 9/2/22:
"Strange Prices At Target! This Is Crazy! What's Coming?"
"In today's vlog we are at Target, and are noticing massive price increases! We are here to check out skyrocketing prices, and a lot of empty shelves! It's getting rough out here as stores seem to be struggling with getting products!"
Comments here:

Musical Interlude: Jason Mraz, "I Won't Give Up"

Full screen recommended.
Jason Mraz, "I Won't Give Up"
"If I were dropped out of a plane into the ocean and told
the nearest land was a thousand miles away, I'd still swim.
And I'd despise the one who gave up."
- Abraham Maslow

And don't you ever give up, never ever...

"Incredible: The Complete Destruction Of America’s Institutions Accelerates"

"Incredible: The Complete Destruction Of 
America’s Institutions Accelerates"
by Jim Kunstler

"We’re witnessing the destruction of every institution in the land and nobody knows how to stop it… The CDC seems to think nobody will notice its crimes, and the crimes of its sister agencies, FDA, NIAID, NIH, (and the White House Task Force) if it strolls jauntily into the fall season whistling a happy a tune: Nevermind Covid anymore, la la la… Did I say crimes? Yes, I did. As in gross violations of the law and the basic social contract.

They lied about their roles in the nefarious origins of SARS CoV-2. They conjured up - already had waiting, actually - dangerous genetic treatments masquerading as “vaccines” and then they faked the safety trials to rush them into use. They denied people proper, effective treatments with inexpensive drugs and killed them with ventilators and remdesivir - solely to maintain a fraudulent emergency use authorization (EUA) that shielded “vaccine” companies from lawsuits.

Once the “vaccines’ were widely distributed - and forced upon many people with mandates - they confabulated and hid information about adverse reactions and deaths. They destroyed countless small businesses, livelihoods, households, and hindered children’s development with lockdowns. And they used both social and news media to censor their critics in direct violation of the first amendment. That’s all.

Oh, one more thing: they destroyed modern medicine. They will probably assist in the destruction of law, too, because the legal system will never be able to handle the volume of lawsuits against all parties involved in the Covid “vaccine” mass slaughter - including the corporations that forced their employees to get vaxxed and the pharma companies themselves, who will lose their EUA protections once their fraud is proven. And they will hasten the death of an already ailing financial system that can’t bear the wealth transfers implied in the foregoing (on top of the worst debt crisis in human history).

You think I exaggerate? We’re sailing into the flu season with millions of people whose immune systems are wrecked by multiple shots of mRNA novelty drugs. They are also susceptible to many viruses and bacteria which normally lurk in everybody’s bodily ecosystem, but would be controlled by otherwise healthy immune systems. Likewise, their hacked immune systems are no longer able to suppress cancers - many forms of which are already way up above normal statistical levels. Not to mention damage done to cardiovascular systems by spike proteins, which linger in human bodies for more than a year after “vaccine” shots, as well as neurological and brain damage.

Former Wall Street analyst Edward Dowd said on August 18 that a Society of Actuaries report just made public shows that a 20 percent uptick in excess deaths among working age people, which began with vaxx mandates in the fall of 2021, continued into the second quarter of 2022. Actuaries are the people who compile and analyze statistics for insurance companies.

So, the last few weeks the CDC has been walking-back one “guidance” after another. No more compulsory testing, no more contact-tracing, no more social distancing, no more treating the unvaxxed differently than the vaxxed (though the “Joe Biden” regime still won’t allow unvaxxed travelers into the USA), no more vaxx mandates (except, apparently, the US military). Oh, and they’ve conceded that their “vaccines” do not remain in the deltoid muscle, but actually leak all over the body. Note: whatever else the public health agencies are saying or doing right now, they are still promoting the mRNA vaccines, and lying about their safety and effectiveness - because if they told the truth, they would be completely discredited and surely subject to criminal prosecution. And they are still suppressing cheap and effective treatment protocols while promoting remdesivir and the useless (plus expensive) Paxlovid.

The CDC capped the walk-back campaign by announcing a major overhaul of how the agency works. (The FDA and other public health entities made no such promises.) CDC Director Rochelle Walensky, fronting for other little-known federal bigwigs actually called in to clean-up after her, made the hilarious statement: “I look forward to working with the incredible people at CDC and our partners to realize the agency’s fullest potential to benefit the health and well-being of all Americans.” What a dim bulb. Does she know the definition of the word incredible? (Here it is: impossible to believe.)

Of course, the more sobering picture is that virtually all American institutions are now incredible, impossible to believe, starting from the top: “Joe Biden” as president. The executive branch of the government is being run by Barack Obama and a claque around him and is being run into the ground either on-purpose or out of astounding incompetence. Attorney General Merrick Garland flamboyantly disgraces the very idea of justice with Stalinesque political prosecutions. FBI Director Christopher Wray flouts every attempt to extract the truth about his agency’s operations, and at least half the country believes he’s turned it into a secret police operation like the Gestapo.

The college presidents and deans have dishonored the idea of truth-seeking with their cowardly submission to Jacobin-Marxist maniacs and their program of anti-knowledge. And who, in America really trusts his doctor? (Not me. Mine is the “chief medical officer” of my network and he’s still pushing “vaccines.”)

We allowed this to happen. We tolerated this exorbitant abuse by runaway authorities-gone-criminal. We let them get away with their bullshit about “defending our democracy” when they are actively and visibly destroying it. Serious people must be seriously asking themselves: what will it take to stop them now?"
Hat tip to The Burning Platform for this material.

"How It Really Is, And Will Be For A Long, Long time"

 

Thursday, September 1, 2022

Greg Hunter, "Era of Fake Money is Gone – Egon von Greyerz"

"Era of Fake Money is Gone – Egon von Greyerz"
By Greg Hunter’s USAWatchdog.com

"Financial and precious metals expert Egon von Greyerz (EvG) stores gold for clients at the biggest private gold vault in the world buried deep in the Swiss Alps. EvG is a former Swiss banker and financial expert that says massive money printing and huge amounts of unpayable debt will lead to a monster financial meltdown soon. EvG says, “I did forecast that the stock market is going to fall at this particular point. The 1,000-point drop on the DOW last Friday came right on cue. Fundamentally, the markets should have crashed a long time ago. It appears clear to me we are going to see a 30% or so fall in the markets in the next one to two months. That’s the first fall, but that’s just the beginning. Markets will fall, in real terms, by 90% to 95% in the coming years. That’s not going to happen overnight, but if it does happen overnight, then all bets are off and there will be a total disaster. The world is going to shut down. Then there will be some extra money printing and people will be optimistic for a while. 

There is no money anymore because the money that is printed will make zero difference. There will be nothing that will drive the world forward. All the decisions on top of the with energy, climate change, sanctions, etcetera, will mean it all will crash a lot faster. The world is going to see a collapse that it has never seen before in history, and there is absolutely no remedy for that. They are not going to be able to do anything. Everybody who is not in power is going to promise something that they can’t deliver. When they get into power, they will be thrown out because they couldn’t deliver. So, the era of Shangri-la and money printing and saving the world by fake money - that era is totally gone.”

EvG goes on to say, “I am not a prophet of doom and gloom, but it may sound like it. I am just someone who just looks at risk. This is why I got into gold 20 years ago. Gold was the best solution to a risk situation in the financial world. We almost had a collapse in 2008, and it was patched up temporarily. This time they won’t succeed. We have a situation nobody can solve. Initially, there will be money printing, but adding new debt to pay old debt is not a great solution to the problem. 

 I don’t think there will be any orderly reset at all. At some point, there will be an implosion of the system. There has to be. You have to remember when the debt collapses, all the assets that were supported by this debt will collapse. You will have an implosion of values, I expect 90% plus. Stocks crashed in 1929 to 1932 by 90%. The risk back then and the magnitude of the problems then were nothing compared to what we have today. Remember, today it’s global, and it’s every single country in the world. It’s everywhere, and no one can escape what’s coming.”

In closing, EvG says, “Gold never goes up in price. Gold maintains stable purchasing power, and that’s why it is such a wonderful commodity and asset.” EvG likes silver, too, but he says be careful because it will be more volatile than gold." There is much more in the 37-minute interview.

Join Greg Hunter on Rumble as he goes One-on-One with Egon von Greyerz
 of Matterhorn Asset Management, which can be found on GoldSwitzerland.com.

"20 Things The Middle Class Can't Afford Anymore"

Full screen recommended.
"20 Things The Middle Class Can't Afford Anymore"
by Epic Economist

"The U.S. middle class is losing ground financially, and in today's video, we're going to expose a list of things middle-income workers can no longer afford. We're living through the most severe cost of living crisis in history, and Americans are seeing their purchasing power evaporate at a breathtaking speed. Even those who used to have some sense of financial security are now having to make some difficult choices and opt between putting food on their tables, paying utility bills, or seeking medical care. Today, middle-earners do not have the same economic stability their parents had back in the day. They continue to struggle with rising costs of education, entertainment, energy, groceries, and everyday necessities while real wage growth stagnates. With each passing month, living conditions continue to worsen for this group.

Right now, millions of Americans are still struggling to afford a basic middle-class life. Nearly 51 million households don't earn enough to afford a monthly budget that includes housing, food, child care, health care, transportation, and a cell phone, according to a study released Thursday by the United Way ALICE Project. The share of middle-income Americans who say their incomes aren't keeping up with their cost of living has jumped 16 percentage points since December 2020, rising to 75% in June 2022, Primerica found. With tight budgets, middle-class families are having to cut back on their spending on name-brand items. In July alone, retail sales data shows a 28% decline in the purchase of brand name items as middle-income shoppers scramble to afford simple luxuries of life.

The middle-class debt load is growing much faster than their incomes, leaving workers struggling to make ends meet each month. According to a Money-Zine analysis, "back in 1980, the consumer debt per person was $1,540, which was 7.3% of the average household income of $21,100. In 2022, consumer debt climbed to $58,604 per person, which was almost 60% of the average household income of $97,026. This means debt increased nearly 500% faster than income from 1980 through 2022."

 Having a financial cushion to fall back on is essential to ensure economic security, but as the cost of living soars, fewer middle-class workers can afford to put some money aside for emergencies. A Bankrate poll found that only one in seven middle-class households have at least six months of emergency savings. Over 25% of them have no emergency savings at all, and the remaining households have a small to moderate amount of savings, but not enough to cover six months of expenses.

In theory, middle-class earners differ from low-income earners because they don’t live paycheck to paycheck. But in reality, over 60% of the U.S. population, or approximately, 157 million adults, are currently living in a hand-to-mouth situation. In other words, middle-class Americans are just as financially burdened as low-income Americans, with around two-thirds, or 67%, unable to cover an unexpected $400 expense. New estimates suggest that around one-quarter of the U.S. population is already spending more than ten percent of their net income on energy. People from households that exceed this ten-per cent threshold are considered to be in the "energy poor" group, experts note. Last year, less than 10% of the population faced energy poverty. But over the past 12 months, the proportion of energy poor has risen by more than fifteen percentage points. Economists observe that high energy prices no longer only burden households with low incomes. This is going to be a very bitter winter for many middle-class families out there. Large swathes of our society are already facing massive amounts of financial pain. But as global events accelerate, it's safe to say that the worst is yet to come."

Canadian Prepper, "State Of Emergency, Grid Down"

Canadian Prepper, 9/1/22:
"State Of Emergency, Grid Down"
"Get ready to feel the burn this weekend!"
Comments here:

"In Memoriam"

"In Memoriam"
by Brian Maher

"We learn that former Soviet premier Mikhail Gorbachev has gone over the rainbow. When a man of historical note clears out, a fellow tends to reflect upon his deeds… and of days past. Today is one such occasion.

Mr. Gorbachev was of course the final premier of the Soviet Union. He did not tear down that wall - as the American president, Reagan, had exhorted him to do in 1987. Yet he did not prevent the walled-in from tearing it down in 1989. At least partly due to Mr. Gorbachev’s passivity, the Cold War closed out with the figurative whimper rather than the literal bang.

Heady days, those were. It was the very end of history, argued Harvard man Francis Fukuyama. Liberal democracy had buried communism… the precise negation of Mr. Khrushchev’s forecast decades prior. Jefferson would displace Lenin. Smith would displace Marx. Warful swords would go beating into peaceful and productive plowshares.

Do you remember it? The first McDonald’s restaurant opened in Moscow as 1990 closed. Hundreds and hundreds stood waiting in line. Was there a grander symbol of communist vanquishment and defeat? Thus the Russian people would discover at last the high glories of political and economic freedom.

Now scroll 30 years ahead to the present day…Russia is an oligarchy annually voted the most corrupt - or second-most corrupt - nation in Europe. (Would you care to hazard its competition for first place?) It is kinged by a 21st-century czar labeled variously as “thug,” “dictator” or “terrorist.” There are other terms less flattering yet.

Russian aircraft and submarines once again menace American territorial borders while American aircraft and submarines menace Russian territorial borders… as during the long twilight Cold War struggle. Russia has invaded the sovereign nation of Ukraine while the United States delivers lethal aid to force Russia out. Direct confrontation between the United States and Russia remains a lingering possibility. To heap Pelion upon Ossa… McDonald’s has vacated Russia entirely.

We may conclude that the United States won the war — but not the peace. Who would have forecast it three decades prior? A cynical yet historically minded few perhaps. They understood well that history has no end. They understood that history is not a roadway terminating in a democratic and capitalistic El Dorado… or any El Dorado at all. It is more a ceaseless clashing of power, interest and commonly - arms.

The question of course… is what went wrong? We are sophisticated enough to recognize the complexity of events, the vast interplay of whirling dynamics. Yet we are simple enough to cling to one grand theory. In our simplistic view the United States should have quit the NATO alliance once its rival alliance disbanded. Yet the United States expanded the NATO alliance eastward - despite pledges to Russia that it would not.

Here is “isolationist” Patrick Buchanan, writing in 1999: "If the United States has one overriding national security interest in the new century, it is to avoid collisions with great nuclear powers like Russia. By moving NATO onto Russia’s front porch, we have scheduled a 21st-century confrontation. Europe’s sick man of today is going to get well. When Russia does, it will proclaim its own Monroe Doctrine.

And when that day comes, America will face a hellish dilemma: Risk confrontation with a nuclear-armed Russia determined to re-create its old sphere of influence, or renege on solemn commitments and see NATO collapse." Mr. Buchanan gazed into a crystal ball far clearer than most. And so here we are.

"For of all sad words of tongue or pen,” lamented 19th-century poet John Greenleaf Whittier… “The saddest are these: 'It might have been!'" And so today we reflect upon Mr. Gorbachev’s legacy and the newly formed Cold War ice that had melted decades ago. “Peace and friendship,” we say: “It might have been!”...

Below, Jeffrey Tucker reflects upon the “good old days of the Cold War,” and what went wrong. Read on."

"The Good Old Days of the Cold War"
By Jeffrey Tucker

"The death of Mikhail Gorbachev unleashed a wave of nostalgia for simpler and better times. That’s odd, isn’t it? Not so much. The freedom revolution did not turn out as planned. The world never became normal and peaceful as promised. And today, we can only look back on the 1980s with affection for better times.

Back in the day, in the midst of the Cold War, we had an overwhelming sense of the world being held hostage and on the verge of a global nuclear war that could wipe out humanity as we knew it. One wrong move, one bad piece of intelligence, and boom the world would go up in fire and smoke. The stakes were so high! It was not just about stopping the end of life on the planet. It was about an epic struggle between freedom (the U.S.) and tyrannical communism (the Soviet Union).

In our political landscape, much of American politics turned on whether it was wise to risk peace alongside a Soviet victory or go for a full vanquishing of evil from the planet. The battle over communism defined the lives of many generations. Everything seemed so clear in those days. We were the good guys and they were the bad guys. We had to spy, fight, build up the military, fund the freedom fighters and generally be strong in the face of godless evil.

Ronald Reagan was just the champion that freedom needed in those days. He called the Soviet Union an “evil empire.” It drove the left nuts and cheered the base. Then one odd day in 1987, he and Gorbachev met and decided that they would together rid the world of nuclear weapons. They were giddy about the idea and the whole world went into shock and amazement.

Gorbachev gained a victory at home – he ruled a poor and restless population sick of the nonsense – that encouraged him to seek more reforms, which only fed the appetite for more reform. Reagan served two terms and left office. Then dramatic change hit the world from 1989–90. The Soviet Empire fell apart, gradually at first and then all at once. Gorbachev became the country’s last leader as Soviet communism became plain-old Russian autocracy over time. The world could now be free!

During this period I met Israeli historian Martin van Creveld. He was a scholar on war and terrorism. He held a usual view. He believed that the end of the Cold War was a disaster. He said the world would never be as peaceful as it was when two superpowers faced off with nuclear arsenals. He described it as the perfect game for peace and prosperity. Neither would ever risk using the weapons but the prospect alone made states more cautious than they otherwise would be. In fact, in his view, this nuclear standoff made the world as good as it could be given the circumstances. He dreaded what might happen once one of the two powers disappeared.

I simply could not accept that position. That’s because I bought all the propaganda that this was really about a victory for peace and freedom. With the Soviet Union gone, the U.S. could now safely return to its natural and constitutional status as a peaceful commercial republic, friendship with all and entangling alliances with none. I was all in on the idea that we had finally reached the end of history: We would have freedom and democracy forever now that we knew that those systems were the best systems.

In those days, many on the left and right in American politics were screaming for normalcy. But there was a huge problem. The U.S. had built up a massive intelligence/military/industrial machinery that had no intention of just closing up shop. It needed a new rationale. It needed a new enemy. It needed some new scary thing.

If the U.S. could not find an enemy, it needed to make one. China in those days wasn’t quite right for enemization, so the U.S. looked to old allies that could be betrayed and demonized. George H.W. Bush decided that Manuel Noriega was a bad money launderer and drug dealer and had to go. The U.S. military made it happen.

Good show! What else? In the Middle East, Iraq was becoming annoying. So George H.W. Bush seized on a border dispute between Iraq and Kuwait, portraying the tiny country as a victim of the big oppressor next door. He would have to intervene militarily.

Now, to be sure, this was not about the U.S. going on some wild new imperial crusade. No no. It was really about punishing aggression just this one time so that the entire world would learn forevermore never to disturb borders again. It was a brief war for peace. It was two weeks to flatten the curve… wait, wrong war. It was two weeks to make the world safe for democracy.

Thus began what became a 25-year occupation. Just two days ago, the palace in Baghdad was ransacked yet again. This once civilized country that attracted the best and brightest students from the whole region is in utter shambles. This is what the U.S. did.

And that was just the start. The U.S., incredibly, replicated Soviet-style occupation in Afghanistan and ended up staying even longer. This was following the 9/11 attacks carried out as a retaliation against U.S. actions in Iraq and the disputed borders of Israel. The Department of Homeland Security came into being and Americans lost vast freedoms.

As for NATO itself, it never went away following the end of the Cold War but rather became another tool of provocation that the U.S. could use to poke its enemies. It was too much for Russia, which decided to settle scores in Ukraine, thus provoking U.S. and European sanctions that are driving the price of energy up for everyone but Russia.

The U.S. victory in the Cold War was massively and tragically misspent. Instead of doing a victory lap for freedom and constitutional government - that’s what we believe was the whole damn point - the U.S. went on a global crusade. Whole peoples suffered but we hardly felt it at all here at home. Life was good. The carnage abroad was all abstract.

With lockdowns and the current political and economic chaos, the global empire has come home to oppress us all in the most personal possible way. We now read tales of life in the Soviet Union and we recognize it all too well. We read 1984 by George Orwell and recognize it in our own experience. Ah for the days of a smiling Reagan and Gorby! Together they decided to end the hell of the Cold War. We had no idea just how good we had it."