Saturday, February 6, 2021

"Covid-19 Pandemic Updates 2/6/21"

"Covid-19 Pandemic Updates 2/6/21"
• There were 131,146 new COVID-19 cases reported in the U.S. on Friday.
• The drop in new daily cases is being felt in all four regions of the country. 
• In the Midwest, the seven-day average for new daily cases per capita has now dropped to a quarter of what it was during the region’s peak in late November.
• Hospitalizations remained below 90,000 on Friday at 86,373.
• There were 3,543 new fatalities reported just a day after the country's deadliest 24 hours.
• The national death toll now stands at 459,360 and more than 26.8million have been infected with the virus."
"When you have eliminated the impossible, 
whatever remains, however improbable, must be the truth."
- "Sherlock Holmes", Sir Arthur Conan Doyle
• "Doctor Admits Masks Don’t Work: “All Viruses Can Get Through”
FEB 6, AT 9:50 AM: "CDC And TSA Form Federal Mask Police... And Enforcement Is Up To Officer Discretion" "Back in early 2020, would you ever have imagined that your decision of whether to wear a face-covering or not could one day be a federal crime?"
 Feb 6, 2021 12:09 AM ET: 
The coronavirus pandemic has sickened more than 105,379,000 
people, according to official counts, including 26,851,698 Americans.
Globally at least 2,297,900 have died.

"The COVID Tracking Project"
Every day, our volunteers compile the latest numbers on tests, cases, 
hospitalizations, and patient outcomes from every US state and territory.
https://covidtracking.com/
Feb. 6, 2021 8:14 AM ET
Where I Live:
- CP

"Clarity In Trump's Wake"

"Clarity In Trump's Wake"
by Angelo Codevilla

"Either the Constitution matters and must be followed... or it is simply a piece of parchment on display at the National Archives."
- Texas v. Pennsylvania et al.

"Texas v. Pennsylvania et al. did not deny setting rules for the 2020 election contrary to the Constitution. On December 10, 2020, the Supreme Court discounted that. By refusing to interfere as America’s ruling oligarchy serves itself, the court archived what remained of the American republic’s system of equal justice. That much is clear.

In 2021, the laws, customs, and habits of the heart that had defined the American republic since the 18th century are things of the past. Americans’ movements and interactions are under strictures for which no one ever voted. Government disarticulated society by penalizing ordinary social intercourse and precluding the rise of spontaneous opinion therefrom. Together with corporate America, it smothers minds through the mass and social media with relentless, pervasive, identical, and ever-evolving directives. In that way, these oligarchs have proclaimed themselves the arbiters of truth, entitled and obliged to censor whoever disagrees with them as systemically racist, adepts of conspiracy theories. 

Corporations, and the government itself, require employees to attend meetings personally to acknowledge their guilt. They solicit mutual accusations. While violent felons are released from prison, anyone may be fired or otherwise have his life wrecked for questioning government/corporate sentiment. Today’s rulers don’t try to convince. They demand obedience, and they punish.

Russians and East Germans under Communists Leonid Brezhnev and Erich Honecker in the 1970s lived under less ruling class pressure than do today’s Americans. And their rulers were smart enough not to insult them, their country, or their race.

In 2015, Americans could still believe they lived in a republic, in which life’s rules flow from the people through their representatives. In 2021, a class of rulers draws their right to rule from self-declared experts’ claims of infallibility that dwarf baroque kings’ pretensions. In that self-referential sense, the United States of America is now a classic oligarchy.

The following explains how this change happened. The clarity that it has brought to our predicament is its only virtue."
Please view this complete and highly recommended article here:

Friday, February 5, 2021

Musical Interlude: Spirit Tribe Awakening, "Raise Positive Vibration"

Spirit Tribe Awakening, "Raise Positive Vibration"
"Peaceful, empowering and soothing music and nature to nurture your 
mind, body, and soul. Supporting and empowering you on your life journey.
 528Hz positive energy healing music with 417Hz Solfeggio frequency.
These frequencies have a specific healing effect on your subconscious mind."
Be kind to yourself, savor this extraordinarily beautiful
 video in full screen. Headphones recommended, not required.

Gregory Mannarino, "IMPORTANT! A Possible EARLY WARNING SIGN From The Bond Market"

Gregory Mannarino,
"IMPORTANT! A Possible 
EARLY WARNING SIGN From The Bond Market"

"GameStop Was A Warning: They Are Weaponizing Censorship To Keep Outsiders Out"

"GameStop Was A Warning: 
They Are Weaponizing Censorship To Keep Outsiders Out"
by Epic Economist

It's not news that the financial system is extremely rigged, but the battle between Reddit Raiders vs. hedge funds has uncovered a much darker reality behind the scenes of Wall Street. The unprecedented restrictions imposed on the trading of GameStop stocks were just a warning. The elites are using their influence to weaponize censorship to keep outsiders out of the markets. It's systemic: the average American is doomed to failure, while the establishment will, of course, always win. Evidently, the ultra-wealthy wouldn't be happy seeing a handful of young online traders profiting from a game created to keep concentrating power on the hands of the powerful while also standing up against institutionalized speculation and the widespread manipulation of the stock markets. The elites are prepared to smash the WallStreetBets' movement and destroy its participants one by one. That's what we expose in this video. 

The founder of Yammer, Craft Ventures, and co-founder of PayPal, David Sacks has recently published an excellent article arguing why the trading ban on GameStop stocks was just a warning coming from the elites. The first issue for the online traders’ group occurred when the digital distribution platform Discord banned the WallStreetBets account after the close Wednesday accusing the group of promoting “hate speech, glorifying violence, and spreading misinformation". At the same time, WallStreetBets investors faced yet another coup. As of Thursday morning, they were locked out of their trading accounts by several online brokerage firms, including Robinhood. Needless to say, that provoked a major backlash and enraged users began registering their discontentment by leaving over 100,000 one-star reviews of the Robinhood app in the Google Play Store, but Google deleted them. 

Keeping in mind that those investors were clumsy outsiders, their primary tools to keep the movement running were online trading and social networking, but both were halted during the peak of the market frenzy, while hedge fund insiders were let off the hook. That is censorship plain and simple, being weaponized to shut up dissonant voices. Currently, tech companies have all the power on their hands, and they benefit from it as much as they can. So whenever is convenient to shutdown a platform, a forum, an account, or whatever means are used to express varying opinions, they will do it on a finger-snap. At a time when Alexandria Ocasio-Cortez and Ted Cruz voice similar concerns over what happened to WallStreetBets, we should all be realizing that this isn't a political issue of Left vs. Right anymore. We're now talking about the force of insiders vs. outsiders. 

What social media provided to outsiders was the opportunity to organize themselves so that their actions could have real power to effect change, and also to express their disgust and expose the way incompetent elites protect each other. That's why the elites of Big Business, Big Media, Wall Street, and Washington are completely panicked about the Reddit movement and are willing to leverage any censorship power to keep the outsiders away. 

Radio host Rush Limbaugh has also recently that the establishment will always censor or cancel anything that doesn’t match with the interests of the ruling class, whether it’s free speech or even attitude. Apparently, right now the elite's biggest fear is social media. For that reason, we constantly see them targeting whatever groups disrupt the status quo by accusing them without evidence of spreading hate and misinformation, just like they did with WallStreetBets. Wall Street has just felt the power that organized social networks can have and how, for the first in history, people can find loopholes in the system created by the elites to infiltrate into it and threaten to take over control. Thanks to social media, the outsiders are threatening to seize the Tower for themselves, and the insiders have never been more terrified."

Must Watch! “I See Red Flags - When Will The Economy Crash?”

Jeremiah Babe,

“I See Red Flags - When Will The Economy Crash?”

Musical Interlude: Ludovico Einaudi, "Experience"

Ludovico Einaudi, "Experience"

"A Look to the Heavens"

“While drifting through the cosmos, a magnificent interstellar dust cloud became sculpted by stellar winds and radiation to assume a recognizable shape. Fittingly named the Horsehead Nebula, it is embedded in the vast and complex Orion Nebula (M42). A potentially rewarding but difficult object to view personally with a small telescope, the above gorgeously detailed image was recently taken in infrared light by the orbiting Hubble Space Telescope in honor of the 23rd anniversary of Hubble's launch.
The dark molecular cloud, roughly 1,500 light years distant, is cataloged as Barnard 33 and is seen above primarily because it is backlit by the nearby massive star Sigma Orionis. The Horsehead Nebula will slowly shift its apparent shape over the next few million years and will eventually be destroyed by the high energy starlight.”

"Life's Funny..."

"And It Was Pointless..."

“And it was pointless… to think how those years could have been put to better use, for he could hardly have put them to worse. There was no recovering them now. You could grieve endlessly for the loss of time and for the damage done therein. For the dead, and for your own lost self. But what the wisdom of the ages says is that we do well not to grieve on and on. And those old ones knew a thing or two and had some truth to tell… for you can grieve your heart out and in the end you are still where you were. All your grief hasn’t changed a thing. What you have lost will not be returned to you. It will always be lost. You’re left with only your scars to mark the void. All you can choose to do is to go on or not. But if you go on, it’s knowing you carry your scars with you.” 
- Charles Frazier

"The Debt Death Trap"

"The Debt Death Trap"
by Jim Rickards

"This morning we got our first look at what we can expect for the next two years (assuming Joe Biden lasts that long). The Senate voted on Biden’s $1.9 trillion budget resolution last night. The vote broke along partisan lines, ending in a 50-50 stalemate. Republicans had proposed a package that would cost about $600 billion. Vice President Kamala Harris cast the deciding vote at 5:30 this morning, breaking the tie. Harris’s role is key because she’s essentially a 51st senator who will break 50-50 ties in favor of Democrats. You can expect many more of these types of votes.

This morning’s vote allows the legislation to go forward. But that doesn’t mean the process is over. The Senate added amendments to the bill that the House had already passed. For example, Senate Democrats reversed previous Republican provisions that would have supported the Keystone XL pipeline and fracking for oil and natural gas. Cancellation of the Keystone Pipeline will destroy tens of thousands of high-paying jobs with benefits. Denying new gas and oil leases will increase energy prices and diminish America’s newfound energy independence from foreign suppliers.

I’m not going to get too deep in the weeds here, but because the Senate added amendments to the bill, it had to go back to the House, which needed to sign off on the changes. This afternoon it did. The House passed the resolution. A final bill will be drafted and passed through an obscure process called reconciliation, which would deprive the Republicans of the ability to filibuster the bill (although under Senate rules this can only be used once per fiscal year and for that reason is usually reserved for major legislation such as tax law changes).

Difficult To Comprehend: The size and scope of this spending program are difficult to comprehend. Nothing like it has ever occurred in U.S. history, except for FDR’s effort to redirect the entire U.S. economy as part of the effort to win World War II. It will provide aid to some in need but, it will also supply windfalls to favored political interests, whether they are in need or not.

This $1.9 trillion comes on top of the $900 billion spending package passed last month and the $3 trillion of spending packages passed by Congress between April and June in 2020. Of course, this entire run of (essentially) $6 trillion in COVID and economic relief is in addition to the $1 trillion baseline budget deficits already built-in for fiscal 2020 and fiscal 2021. The total deficit spending tab for both years, pandemic and non-pandemic, comes to $8 trillion.

More economic stimulus is waiting in the wings. After the new $1.9 trillion package passes, the White House and Congress will likely pursue another multi-trillion dollar deficit spending program focused on infrastructure, education and aid to state and local governments. Republicans may complain about such big-ticket spending, but their complaints will carry little weight. When Republicans were in control of the White House and Senate in 2020, they passed over $3 trillion in deficit spending programs to deal with the pandemic.

Right now, there is no fiscal discipline. COVID has become an all-purpose excuse for practically unlimited spending. What it will not do is stimulate the economy or end the no-growth and slow-growth depression we are now in. Obviously, the policy response to the pandemic caused the new depression.

The Worst Decline Since 1946: The final numbers on the economy for 2020 are in (subject to the usual adjustment processes). GDP growth in the U.S. for 2020 was negative 3.5%. How bad is that? It is worse than in 2009 when growth collapsed by about 2.4%. It is worse than the 2000 and 1990 recessions, which were both quite mild. It is worse than the severe recession of 1982 when growth fell about 2%. In fact, it is the worst decline since 1946 in the midst of the demobilization after World War II.

Before that, you have to go back to the Great Depression years of 1930, 1931 and 1932 to find a worse collapse. In a $22 trillion economy, a 3.5% collapse equates to about $770 billion in lost output. The actual damage was far greater because output figures and GDP do not capture lost wealth in the form of failed businesses, lost skills, and declining asset values in commercial real estate, airlines, resorts, cruise ships and many other endeavors.

The 2020 collapse was bad enough, but where do we go from here? How will the Biden policy plans play out in the real economy regarding growth, jobs, inflation or deflation? Most analysts and TV commentators say that growth will come roaring back in 2021, and we’ll be back to 2019 levels of output by mid-year. Don’t believe it.

The Biden plan will hurt growth, destroy jobs and produce a new recession as early as the first half of 2021. The overall effect will be deflationary (although inflation will follow in 2022 and later as the effects of deflation become unsustainable due to debt burdens and reduced consumption). The pillars of Biden's program boil down to two things. One is his monetary policy, which consists of zero rates and money printing. The second is his fiscal policy, which includes deficit spending and a higher debt-to-GDP ratio. This will be exacerbated by higher taxes, lower wages (due to more immigration) and more regulation. It’s a recipe for economic disaster.

No Velocity: Monetary policy will fail because velocity is falling faster than money can be printed. Velocity measures turnover, the rate at which money changes hands. Velocity peaked in 2008, just ahead of the global financial crisis, and it has continued to plunge until it took a total cliff dive in 2020 during the pandemic. This is why the Fed has been printing so much money. It takes more money just to keep GDP constant when velocity is collapsing. When velocity drops, you get less “bang for the buck” in terms of economic growth.

The Fed has very little control over velocity. That’s because velocity is driven by psychology and inflationary expectations. Right now, expectations of inflation are low. People don’t want to spend; they want to save or pay down debt. The result is that velocity continues to drop, which is a major headwind to growth.

The Fed’s solution (now endorsed by Janet Yellen, former Fed Chair and new Secretary of the Treasury) is more deficit spending by the Congress. The idea is that if citizens won’t spend, Congress will. The goal is to accelerate money velocity. That might work when you have little debt. But that’s obviously not the case today.

Like Greece, Lebanon, Italy and Japan: The debt-to-GDP ratio is the total amount of U.S. government debt divided by GDP. The U.S. debt-to-GDP ratio is about 125% today. That ratio will get worse once the new Biden spending bills pass, pushing the debt-to-GDP ratio to 130%. The only other developed countries with debt ratios that high are Greece, Lebanon, Italy and Japan.

This debt-to-GDP ratio is highly significant. The research shows that at debt-to-GDP ratios of 90% or less, there is a Keynesian multiplier from government borrowing and spending. You can borrow a dollar, spend a dollar and get, say, $1.25 of GDP. The multiplier drops as the ratio gets higher, but as long as you do not surpass a 90% ratio, there is still some bang for the buck. Once you hit 90%, the multiplier is less than one. The U.S. crossed this critical threshold in 2011.

This means if you borrow a dollar and spend a dollar, you get less than $1.00 of GDP. You’re now in a debt death spiral. When the debt is that high, you can’t borrow your way out of it. Each dollar of additional borrowing adds a dollar to the debt but adds less than a dollar to GDP.

An economic time bomb is ticking. Velocity is dropping. Debt is growing. Growth is slowing. The explosion will come in the form of asset bubbles bursting, stocks crashing and soaring gold prices. It’s a debt death trap."

"The Devil’s Work"

"The Devil’s Work"
by The Zman

"There is an old expression that has fallen out of favor in the post-scarcity age, but it may be the key to understanding the current crisis. That expression is, “Idle hands do the Devil’s work.” When people do not have anything productive and useful to do with their time, they are more likely to get involved in trouble and criminality. A variant of this is “The Devil makes work for idle hands.” The idea there is if you want to avoid Old Scratch, then make sure you keep yourself useful to God.

The source of these proverbs is unknown, but variations of them go back to the early middle ages, so it is probable they evolved with Christianity. It is not unreasonable to think the idea is universal to civilization. After all, every human society has had to deal with the idle, lazy, and troublesome. Making sure these people are kept too busy to cause trouble is one of those primary challenges of civilization. Every ruler has known that too many idle young men is bad for his rule.

Even in the smaller context, this is something we instinctively know. In the workplace, people with too much free time get into trouble. If the IT staff has too much free time, they start tinkering around with the stuff that is working and before long that stuff stops working and the system goes down. A big part of what goes on inside the schools is to keep the kids and the teachers busy. Home schoolers have known for years that the learning content is just a few hours a day. The rest is busy work.

The point here is that people of all ages need a purpose, something that occupies their mind and their time. If something useful and productive is not filling that need, then something useless or unproductive will fill the void. For most people this may be a hobby or leisure activity. For others, it often means a useless activity is turned into something important. Elevating the mundane to the level of the critical and then creating drama around the performance of the mundane activity.

This is what we see in our political class. The ruling class of every society has a ceremonial role, a procedural role, and a practical role. Outside of a crisis like a war or natural disaster, the political class is performing its duties in the same way a line worker in a factory preforms his role. In popular government this means the pol shows up at public events. He performs the tasks his office requires like signing papers and casting votes. He helps grease the wheels when they need grease.

Into the 20th century, most of our political offices were part-time jobs. State legislatures met for a short period during the year. Otherwise, the legislators were back home doing their jobs. Executive positions like governor and president were fulltime jobs, as they were in charge of the civil service and in the case of president, commander-in-chief of the military. Within living memory, Washington DC would empty out in the spring and remain empty until the fall when Congress returned.

What we see today is politics at all levels has become a full-time job, but one with less to do when it was considered a part-time job. Congress, for example, is something close to a 24-hour drama now. The politicians and their retinues are now doing politics as a full-time obsession. Yet almost all of what they do is unnecessary. In fact, much of what they do is harmful. Very few things passed by Congress enjoy the support of the majority of the people or even a large plurality.

It is not just that these part-time jobs have been made into full-time obsessions. It is that much of what we used to need from government is now filled by individuals, ad hoc networks, and the private sector. Much of what government does is actually done by private contractors on government contracts. One of the ironies of the post-Cold War world is that the federal workforce has declined relative to the population, while the number of people employed in politics has gone up.

Then there is the fact that much of what government does could be automated or simply eliminated entirely. The services that are required like renewing licenses and paying fees can all be automated. In many cases they have been, but that did not result in fewer people, as we see in the dreaded private sector. Instead, it resulted in more idle hands looking for a purpose. On the political side, much of what Congress does could also be eliminated or automated.

What has happened in the last 30 years is we have grown the idle class at the top of our society and while decreasing their necessity. Much of what goes on in our politics is make work designed to get public attention. Think about it. If the cable news channels were shuttered and the social media platforms run by the oligarchs were closed, what would change in America? Nothing of practical importance. Our world would get quieter and there would be a boom in forgotten hobbies.

American political culture evolved during the Cold War to fight communism and prevent a nuclear war. Those were important tasks that occupied the minds and hands of the political class. Once those things went away, those idle hands searched about for a new crisis. Health care, Gaia worship, Islam and now invisible Nazis have been used to keep the idle hands of the political class busy. In the process, the political class has been driven mad and is threatening the rest of society."

The Daily "Near You?"

Woods Hole, Massachusetts, USA. Thanks for stopping by!

"There Arrives A Point..."

"When swimming into a dark tunnel, there arrives a point of 
no return when you no longer have enough breath to double back.
 Your only choice is to swim forward into the unknown and pray for an exit." 
- Dan Brown

"The Top 10% Is Doing Just Fine, The Middle Class Is Dying on the Vine"

"The Top 10% Is Doing Just Fine, 
The Middle Class Is Dying on the Vine"
by Charles Hugh Smith

"I've been covering the decline of America's middle class for over a decade with charts, data and commentary on the social depression that has accompanied the decline. While there are many mutually reinforcing dynamics in this 45-year decline - demographics, global energy costs, financialization and globalization, to name a few - one term describes the accelerating erosion of America's middle class: decapitalization.

To understand decapitalization, we need to start with the fundamentals of any economy between labor (wages) and capital and between investment and speculation. Although it's tempting to oversimplify and demonize one or the other of these basics (speculators bad! etc.), they each provide an essential role in a healthy economy, one which is in dynamic equilibrium, a state analogous to a healthy ecosystem with constantly changing interactions of numerous species, individuals and inputs (weather, etc.). This variability enables the order of fluctuations (to use Ilya Prigogine's profound phrase), a dynamic stability/equilibrium.

If labor's share of the economy drops too low, the workforce cannot consume enough to support their households and the economy as a whole. If capital can no longer earn an attractive return, investment dries up and production stagnates. If speculators are not allowed to take on risk, liquidity dries up and risk crushes investment. But if speculation becomes the foundation of the economy's "growth," then the inevitable collapse of speculative bubbles will crash the economy.

In modern social-capitalist systems, the core stabilizer of the system is the wage-earning middle class which provides the stable workforce driving production and the stable pool of consumers needed to borrow money and consume enough to soak up the production of goods and services at a profit to producers. Without a stable, dominant middle class, capital has few opportunities to invest in productive capacity. Without a stable, dominant middle class, the economy stagnates and is prone to collapse as it is far from equilibrium.

The process of middle class decline is best explained as decapitalization because the middle class is fundamentally a means of transforming labor into capital via savings and investment. The traditional ladder of social mobility from the working class to the middle class is one of capitalizing work: time and savings are invested in higher education, in effect capitalizing future labor by increasing productivity.

Capital isn't limited to cash, land or tools; in an information economy, knowledge and skills are also capital, as is the social capital of social networking and relationships formed with mentors, suppliers, lenders, colleagues, investors, etc. The second way to capitalize work is to save earnings and invest the savings in assets that produce income or gain value: a house, land, rental property, small business and income-producing financial assets such as bonds or dividend-paying stocks.

Thrift, investing, long-term planning and deferred consumption are all essential to capitalizing work by turning that labor into income-producing assets. As the household's ownership of these assets that yield unearned income rises, so does their income and wealth. These increase the financial security of the household and build a nest egg which can be passed down to the next generation, improving their security via inheritance of income-producing assets.

As long as productivity is increasing the value of their labor, the middle class can leverage future earnings into assets by borrowing money to invest in assets: to buy a house, a mortgage is borrowed against future earnings. As long as the mortgage is a fixed-interest loan and income can be expected to rise with productivity, then this is a win-win situation: capital earns a predictable, low-risk return from the mortgage and the middle class household has stake in a family home, an asset which acts as a savings mechanism as the mortgage slowly pays down the debt and increases the household's home equity - a form of savings.

The processes of decapitalization have upended this entire structure. In the systems context outlined above, our economy is out of balance and far from equilibrium and thus prone to collapse. For the bottom 90%, which of course includes the middle class however you define it, it's increasingly difficult to capitalize labor into capital. There are a number of factors driving this decapitalization:

1. Wages' share of the national income has continued a five-decade downtrend. (See chart below) National income since 1973 has shifted from labor (wages) to capital and more specifically, to debt and speculative gaming of the system, a.k.a. financialization.
Total household income in the U.S. in 2018 was $17.6 trillion. The decline in wages' share of the national income from 1973 to 2018 is about 8.5%, which equals $1.5 trillion, the sum shifted from labor to capital every year. (See chart below)(source:)
No, this is not a typo. As this RAND report documents, $50 trillion has been siphoned from labor (the lower 90% of the workforce) to the Financial Aristocracy and their technocrat lackeys (the top 10%) who own the vast majority of the capital (see charts below): Trends in Income From 1975 to 2018.

2. Within the workforce, wages have shifted to the top 10% who now earn 50% of all taxable income. (See RAND chart below) Financialization and globalization have decapitalized the skills of entire sectors of the workforce as automation and offshoring reduced the human capital of workers' skills and experience and the value of their social capital. When the entire industry is offshored, skills and professional relationships lose their market value.

In a fully globalized economy, every worker producing tradable goods/services is competing with the entire global workforce, a reality that reduces wages in high-cost developed nations such as the U.S. Financialization has heavily rewarded workers with specialized gaming the financial system skills and devalued every other skill as only the skills of financialization are highly profitable in a globalized, financialized economy.

3. As the high-wage jobs and capital shifted to coastal urban centers, middle class owners of homes and capital elsewhere saw the value of their assets decline. If a home valued at $100,000 in the late 1990s is now worth $150,000, the owners lost ground even with "official" inflation. In terms of real-world purchasing power, their home actually lost significant value in the past 23 years.

Meanwhile, middle class owners who bought their home in a coastal hot-spot for $100,000 23 years ago are now enjoying home valuations close to $1 million. Homes, along with every other asset, have been shifted into a casino where almost everyone is sorted into winners and losers, less often by skill and more often by luck. For those who were too young to buy in 1997, sorry - the opportunity to buy a home for three times average middle class income is gone. The lucky generation who bought in the late 1990s in booming coastal magnets for global capital joined the top 10% and their colleagues in less desirable regions lost ground.

4. As capital siphoned off income and appreciation from labor (human and social capital), the gains accruing to capital accelerated. Those who already owned income-producing assets reaped both income and asset appreciation gains as yields on savings collapsed to near-zero as the Federal Reserve and other central banks dropped yields to near-zero in 2009 and kept them low for the following 13 years.

This had two devastating effects on the middle class: hundreds of billions of dollars that once flowed to savers and money markets disappeared, swallowed by the banks as a direct (and intentional) effect of the Fed's ZIRP (zero-interest rate policy). Since the Fed destroyed low-risk yields, anyone seeking any real yield (i.e. above inflation) would have to enter the casino and compete with hedge funds, insiders and the Financial Aristocracy. Very few middle class workers have the skills and experience to beat the pros in the casino, and so income and wealth accrued to those who already owned capital. This is a key reason why the rich got richer and the poor got poorer. Those with capital accrued the majority of gains in income and wealth, leaving the bottom 90% in the dust.

A recent Foreign Affairs essay Monopoly Versus Democracy included these stunning statistics: "Ten percent of Americans now control 97 percent of all capital income in the country. Nearly half of the new income generated since the global financial crisis of 2008 has gone to the wealthiest one percent of U.S. citizens. The richest three Americans collectively have more wealth than the poorest 160 million Americans."
The 3% of income from capital collected by the bottom 90% - which includes the middle class-is basically signal noise: the middle class collects inconsequential crumbs of income from capital. (stimulus)

Prior to the Fed's ZIRP and financialization of the economy, the middle class could both collect income from capital they owned and they could afford to acquire assets that yielded low-risk solid returns. Now they can do neither. Even worse, the purchasing power of their labor continues to decline, leaving them less able to save and buy assets.

This is why The Top 10% Is Doing Just Fine, The Middle Class Is Dying on the Vine. Please study these charts as a means of understanding the inevitability of economic stagnation and a revolt of the decapitalized middle class."

Greg Hunter, "Weekly News Wrap-Up 2/5/21"

"Weekly News Wrap-Up 2/5/21"
By Greg Hunter’s USAWatchdog.com

"Impeachment 2.0 is gearing up for the trial in the Senate next week. The Democrats want Donald Trump to testify, and his lawyers say – not going to happen. They have to prove their case, and they ain’t going to be able to do it says the Trump impeachment tag team of lawyers. This is another phony impeachment for a guy no longer in office. The country burns while the Senate fiddles.

If you did not really know how deep the corruption was in the D.C. swamp, you certainly do now. Just about the time I feel we are finally hitting bottom, another trap door opens and we sink further. The one thing we have seen in all this fraud with the elections is how deep the swamp really is. We also now know there is really only just one big criminally, compromised and corrupt party that hates “We the People.”

The economy is still sinking, and it’s not going to bounce back anytime soon. The incompetence in Washington comes when an illegitimate government is put into power by fraud. On its face, it is incompetent, and the world knows it. How long can the confidence game with the dollar and the Treasury market last with the inmates running the asylum?"

Join Greg Hunter of USAWatchdog.com on Rumble as 
he talks about these stories and more in the Weekly News Wrap-Up.

"How It Really Is"

 

"No Ways Tired in A Sea of Lies"

"No Ways Tired in A Sea of Lies" 
by Chris Floyd

"I think we are living in a world of lies: lies that don't even know they are lies, because they are the children and grandchildren of lies. One of the hardest things to accept is that the reality of our world is buried under so many layers of official deception and well-cultivated public ignorance about our history and our political system. Even if you break through somehow, momentarily, and hold up a fragment of the truth, most people have no context for dealing with it. It's like a bolt from the blue, they can't process the information. And so the sea of lies closes over us again, and again, and again. And yet the reality of our future appears on the horizon, denial be damned, an irresistible tsunami of destruction, changing all our lives forever.

These are the facts, and they can't be altered. But how to respond to this catastrophe? Shall we weep, moan, rend our garments, cover ourselves with sackcloth and ashes? Shall we sit upon the ground and tell sad stories of the death of republics? Shall we cower in the shadows and sing glamorous dirges for the Lost Cause, for vanished glories and broken dreams?

Or shall we come out fighting, unbowed, heads high, laughing fools to scorn, rejecting at every turn the moral authority of murderers and thieves to rule our lives, determine our reality, act in our name? Let's dispense with lamentation - give not a single moment to that emotional indulgence - and get right back to work, more determined than ever to bear down harder, dig deeper and excavate the radioactive nuggets of truth still glowing beneath the slag-heap of ruin.

Let's fight, let's reject, let's resist - without violence, the weapon of the stupid, the hormonal secretion of evolutionary backsliders in thrall to the chemical soup in their heads, dull primitives dressing up their ape-lust for power with scraps of religion, philosophy and cant. Let's fight these pathetic, malfunctioning wretches who lay their hands on our world and rape it like beasts in a mindless rut. Fight them with the truths we find, exposing their crimes and deadly hypocrisies to the people they've suckered, perverted and betrayed.

This is not an insurmountable task, no matter how impervious the Machine - that monstrous conglomeration of judicial bagmen, Congressional rubber stamps, psychopathic media moguls, dopehead radio ranters, sex-crazed theocrats, war profiteers, think-tank bleaters, Wall Street sharks, oilmen, Moonies, gun nuts and woman-haters - might appear at the moment.

I don't know what else we can do, except to keep on telling as much of the truth as we can find, to anyone who will listen: reclaiming reality, fragment by fragment, one person at a time. It's an endless task- maybe a hopeless task- but the alternative is a surrender to the worst elements in our society- and in ourselves. It's worth the fight. Let's take it on. In the words of the old spiritual, let us be in no ways tired. The road back to sanity starts now."

Must Watch! Gregory Mannarino, "MASSIVE CRASH AND BOOM! #LIES​ #FAKERY​ #MISINFORMATION​ #DISTRACTIONS"

Gregory Mannarino,
"MASSIVE CRASH AND BOOM!

"The Fire This Time"

"The Fire This Time"
by Jim Kunstler

"Can’t we just all get along? No, apparently. Branding everyone to the right of Woke a “terrorist” and an “insurrectionist,” as is the style these days with the sore winner party, will probably not warm a whole lot of hearts and minds among the politically disenchanted. It comes with an odor of desperation, too, as if Joe Biden’s consolidated Deep State is so lacking in confidence, even in victory, that it can’t distinguish policy from punishment - and so the beatings will continue until morale improves.

Outside the razor-wired DC perimeter, with its bomb-proof bureaucracy, the economy is in freefall. This has not quite come to the attention of a new regime aroused over systemic racism and the pressing need to expand athletic opportunity for transsexuals. But an inferno is racing across the land like a prairie fire and the remaining American buffalo out there may be inclined to stampede before long. Can Ol’ White Joe hear their distant hoofbeats from the Oval office? Maybe not with Nancy Pelosi and AOC screaming in his ears.

The Bureau of Labor Statistics reported 779,000 people filed for first-time unemployment the week ended January 30. The news media called that “a beat” because it was under the 830,000 expected. It’s been that way week-after-week this year of Covid-19. Nonfarm business sector labor productivity decreased 4.8 percent in the fourth quarter of 2020, the largest quarterly decline in the measure since the second quarter of 1981. Yes, forty years ago, when the US population was 226 million (it’s now 330 million). The stock market responded by smashing new all-time- highs. Bad “optics?”

How do you think the value of shares manages to go up, up, up, and away, day-after-day, while the value of the economic activity goes down, down, down day-after-day? Must be Modern Monetary Magic, like the Federal Reserve purchasing $80-billion a month in US Treasury bond issues and another $40-billion in mortgage-backed securities for a grand total of $140-billion a month. The real monetary magic, of course, is that it’s possible to have a Wall Street boom while the economy collapses. The nation’s assets have already been stripped, so where is all this “value” actually coming from? Answer: from the false expectation of enormous future American productivity. It’s false because it’s based on the creation of debt that can’t possibly be paid back…ever. It’s not based on investment in future productive enterprise.

The economy won’t be fixed by policy because the things that have to happen to fix it will be resisted to the death by the parasitical entities feeding on what little remains. For instance, Walmart. Do you think it’s unhealthy that all the profit in American commerce is funneled into Bentonville, Arkansas? It used to be distributed in hundreds of thousands of small businesses in tens of thousands of US towns and cities. What do you think will die first: Walmart or the organism its feeding on?

Since the dynamic at work is emergent and non-linear, other forces can come between these relationships and change things. We are already in conflict with China, the land that supplies most of the merchandise in Walmart. The conflict right now is mostly playing out in the capture of US corporate and cultural enterprise, and in cyberwarfare, and it’s liable to hotten up around the continued sovereignty of Taiwan (America’s China). It’s difficult to assign intentions to another country but it appears that China’s China wishes to cancel the USA as the fading hegemon on the world stage, at least neutralize us, and perhaps dominate us. Mr. Trump is no longer in place to resist that, and the country might be forced to consider all those deals that our new president, “China Joe” enjoyed from the Biden family’s business ventures there over the years.

Emergently, then, the Big Box business model could fail, and in fairly short order, which would at least give Americans a chance to self-reorganize the production and distribution of goods in our own country. It sure won’t be like 1957 again, but it would give an awful lot of idle people more to do when they get up in the morning. Wait for it, and plan accordingly.

In the meantime, we are treated to the sordid spectacle of Democratic Wokesters endeavoring to destroy what remains of American cultural life. It’s an incomparably stupid and malign distraction from the imperatives of this historical moment. They will not succeed in cancelling those who object to the systematic disassembly of our national language, myth, and meaning, even if we have to go back to the mimeograph machine to keep these things alive. They will not turn a republic into a psychopathic despotism. Politics, they say, is downstream from culture. Truth is the antidote to a culture of lies. The upcoming impeachment trial of former president Trump will be a showcase for that, and it may prove to be a hoax too far."

"And There Comes A Time..."

“Cowardice asks the question, 'Is it safe?' Expediency asks the question, 'Is it politic?' Vanity asks the question, 'Is it popular?' But, conscience asks the question, 'Is it right?' And there comes a time when one must take a position that is neither safe, nor politic, nor popular, but one must take it because one's conscience tells one that it is right.”
- Martin Luther King Jr.

Thursday, February 4, 2021

"What Will It Take?"

"What Will It Take?"
by Ray Jason

"Wake up, Humanity! What will it take before you snap out of your trance and realize that this Wuhan Virus “pandemic” is the most malicious fraud ever devised. It is the only psychological operation that has been attempted on a global scale. Even World War I and World War II did not bludgeon the entire planet.

What will it take before you realize that when the “experts” look into the TV cameras and tell you that this is about your health, they are lying. This is about submission and domination. This is about confusing you and demoralizing you and completely breaking your spirit. How else do you explain their latest gleeful atrocity… anal swabs.

Our Malignant Overlords have been carefully monitoring our reactions to this scamdemic, and they now believe that the masses are so docile that they will accept almost any level of degradation. The lunacy of detecting a respiratory ailment with a digestive system test, is obscenely absurd. It’s like treating constipation by putting a cast on somebody’s arm.

Perhaps being forced at an airport to bend over for “The Swab,” might be the “What will it take” moment. Maybe this perverted invasion of human privacy and dignity, will be the catalyst for a tsunami of justified resistance. Might the people finally arise and say, “We will no longer submit or comply or let you destroy us with your imaginary disease!”

But if it is “imaginary,” the Karens exclaim, how do you explain all of the WuFlu deaths? The answer is that they are the result of deliberate deception. The average “deaths per 1,000” numbers around the world did not increase in 2020. Had there truly been some ghastly plague, these figures would have been significantly higher.

The deaths attributed to C-19 are in fact “reclassification deaths.” Notice that influenza and pneumonia and tuberculosis have practically disappeared from the charts of annual deaths. Was this because miracle cures for all three of these were suddenly discovered?

No, it was because they were reported as WuVi deaths. And there were major financial incentives to do so. For example, in the U.S., if the death certificate said C-19 was the cause, the hospital would receive a government payment of tens of thousands of dollars. But they received zero for other respiratory diseases.

Another motivating factor for falsifying the death statistics, was the power that it granted to petty tyrants. Most people, due to their “decency bias,” have a difficult time believing that some humans are just born with the desire to dominate others.

Such damaged individuals seek careers that allow them to exercise that craving for power. Politics and bureaucracy offer immense opportunities to actualize their Napoleonic perversions. And the more soulless and ruthless they are, the higher they climb in the domination hierarchy.

I have found myself wondering what will it take so many times during the last year. Here are some examples that might have astounded you as well.

When the “two weeks to flatten the curve” turned into months and months and months. When the cheap and amazingly effective therapy using hydroxichloroquine was demonized and then banned in many places.

When 1,000s of years of medical protocols were forsaken in favor of a policy that locked-down everyone instead of the sick, the elderly and the vulnerable. When anyone questioning this medical strategy was ridiculed and silenced.

When masks were made mandatory, even though it actually says on the side of the box that such masks do not protect a person from viruses. When the experts started claiming in one voice that we would never return to “the Old Normal”… almost as though they had a secret agenda fully mapped out for us.

When even the transition to their “New Normal” became as shifting and dangerous as quicksand. They told us that when herd immunity was reached, the lock-downs and masks would be discarded. That was soon changed to when enough people were vaccinated. But then we were told that even after vaccinations, masks and lock-downs would still be required.

So, what will it take, before you realize that these people are stealing your freedom and your dignity and your future? Will the anal swabs finally jolt you into peaceful insurrection? Or will you just continue watching and believing your TVs… but from the bent-over position?"
An essential Must Read:

Musical Interlude: Flash And The Pan, "Hey, St Peter"

Flash And The Pan, "Hey, St Peter"

The Poet: Wendell Berry, "Circles of Our Lives"

"Circles of Our Lives"

"Within the circles of our lives
we dance the circles of the years,
the circles of the seasons
within the circles of the years,
the cycles of the moon
within the circles of the seasons,
the circles of our reasons
within the cycles of the moon.

Again, again we come and go,
changed, changing. Hands
join, unjoin in love and fear,
grief and joy. The circles turn,
each giving into each, into all.

Only music keeps us here,
each by all the others held.
In the hold of hands and eyes
we turn in pairs, that joining
joining each to all again.
And then we turn aside, alone,
out of the sunlight gone
into the darker circles of return."

- Wendell Berry

"Holding On To Something..."

Sam: "It's like in the great stories Mr. Frodo, the ones that really mattered. Full of darkness and danger they were, and sometimes you didn't want to know the end because how could the end be happy? How could the world go back to the way it was when so much bad had happened? But in the end it's only a passing thing this shadow, even darkness must pass. A new day will come, and when the sun shines it'll shine out the clearer. Those were the stories that stayed with you, that meant something even if you were too small to understand why. But I think Mr. Frodo, I do understand, I know now folk in those stories had lots of chances of turning back, only they didn't. They kept going because they were holding on to something.
Frodo: What are we holding onto, Sam?
Sam: That there's some good in the world, Mr. Frodo, and it's worth fighting for."

- Samwise Gamgee, 
"Lord of the Rings: The Two Towers"

"Truth..."

"Truth: the most deadly weapon ever discovered by humanity. 
Capable of destroying entire perceptual sets, cultures, and realities. 
Outlawed by all governments everywhere.
Possession is normally punishable by death."
- John Gilmore

A comment: According to statistics compiled by the UN, by the time the sun rises tomorrow morning 30,000 children world wide will have died overnight from malnutrition, disease, lack of potable water, and lack of basic medical care. That's every night, all year long, 30,000 children dying because no one cared. Trillions of dollars wasted on insane wars, economies destroyed by psychopathic greed, the environment dying in front of our eyes, and no one cares. No wonder Sir Arthur Conan Doyle described humanity as, "Poor silly half-brained things peering out at the infinite, with the aspirations of angels and the instincts of beasts." The "instincts of beasts" is evident for all to see... sometimes all this wears me down, and I look around, hoping to see the "aspirations of angels," hoping desperately that we can somehow awaken from the madness crushing us all, that together we can still rise above the despair and hopelessness and make a better world, where no child dies from hunger, where wars are a distant memory, where everyone can live full, dignified and honorable lives in peace. An impossible, hopeless struggle? Perhaps, but how dare we call ourselves "Human" if we don't try to make that vision real, in any way we can, no matter the price? A dream, you say? Yes, that's all it is... but without those dreams, those aspirations, all that's left is the "instincts of beasts", and we all see very clearly what those have brought this world to... - CP

Chet Raymo, “The Spark of Life”

“The Spark of Life”
by Chet Raymo

"In a previous post I quoted Teilhard de Chardin referring to the discovery of electromagnetic waves as a "prodigious biological event." A biological event? What could he mean? The universe was awash with electromagnetic waves long before life appeared on Earth, or anywhere else in the universe. The cosmic microwave background radiation- the residue of the big bang- is electromagnetic. Starlight is an electromagnetic wave. You can "discover" electromagnetic waves by opening your eyes.

Of course, what Teilhard referred to was the conscious control of electromagnetic radiation by sentient biological creatures. Electromagnetic waves were predicted theoretically by the Scottish physicist James Clerk Maxwell in 1864, as he played with equations describing electric and magnetic fields. Then, twenty-two years later, electromagnetic waves were experimentally demonstrated by Heinrich Hertz, who in effect made the first radio broadcast and reception. At Hertz's transmitter a spark jumped back and forth between two metal spheres 50 million times a second. Across the room a similar spark was instantly produced at the receiver. Invisible electrical energy had passed through space at the speed of light.

A spark dancing between two spheres- an unpretentious beginning for the age of radio, television, mobile phones and wireless internet. That first transmitter and receiver had a basement-workshop simplicity about them. Hertz demonstrated the nature of electromagnetic waves with constructions of wood, brass and sealing wax.

Wood, brass, sealing wax and conscious intelligence. Here on Earth- perhaps throughout the universe- stardust gave rise to living slime. The slime complexified, became conscious. Invented mathematics, experimental science. Caused sparks to jump between metal spheres. Sent the signature of biological activity across a room. Across a planet. Across the universe."
"Prodigious!”

"Needed: A 'Reality Czar'?”

"Needed: A 'Reality Czar'?”
by Brian Maher

"The United States confronts a “reality crisis.” This we know because The New York Times - the Newspaper of Record - informs us it does. Subversive conspiracies are amok. The internet is a sewer of disinformation...Some even call the infallibility of the New York Times into question… as some heretics still call the infallibility of the Pope into question.

The results are atrocious. Times technology reporter, Mr. Kevin Roose: "In the past year alone, we have seen conspiracy theorists cause Covid-19 vaccine delays, sabotage a wildfire response and engineer a false election fraud narrative. We have also seen that if left unchecked, networked conspiracy theories and online disinformation campaigns can lead to offline violence, as they did during last month’s deadly Capitol riot…"

Democracy itself dangles in the balance: "Unless the Biden administration treats conspiracy theories and disinformation as the urgent threats they are, our parallel universes will only drift further apart, and the potential for violent unrest and civic dysfunction will only grow."

A “Reality Czar”: As toxic chemicals poison a body, conspiracies and disinformation poison a democracy. What - then - is to be done? The drug crisis required a drug czar. The climate crisis requires a climate czar… And so the reality crisis requires a reality czar… to flush the demon toxins that poison American democracy. Mr. Roose: "Several experts I spoke with recommended that the Biden administration put together a cross-agency task force to tackle disinformation and domestic extremism, which would be led by something like a “reality czar.”

This Roose fellow concedes a reality czar “sounds a little dystopian.” He hears the shade of George Orwell razzing him. The very thought of it tortures him. But the nation is down with a dire disorder - a reality crisis. And the needs of the hour are the needs of the hour. The hour needs the man. They will revoke his czarship once the crisis blows through… as wartime powers are lifted once the war winds blow through.

Here is why we need him today: The government’s approach to disinformation and domestic extremism is scattered. It lacks direction... focus… thrust. It is a dull blade. A reality czar must therefore sharpen the point: Right now, these experts said, the federal government’s response to disinformation and domestic extremism is haphazard and spread across multiple agencies, and there’s a lot of unnecessary overlap.

Do you question the experts?

Americans Need a Reality Check: The Daily Reckoning is heart and soul for reality. Each day we face reality with unflinching stoicism… and a stiff top lip. Thus we throw in for a reality czar. Too many Americans harbor deluded and fantastical beliefs. They must be shaken by the shoulders… set to rights… and returned to their senses. You may believe it or you may not believe it... but many among us reject these bedrock facts:

• That the stock market is a mirror of the economy. That it “discounts the future.” That the stock market booms because the future is flush. That fundamentals are king…
• That stocks - like redwoods - can grow to the sky…
• That “buy and hold” is the royal road to stock market riches...
• That the Federal Reserve exerts little gravity upon the stock market.
• That the same Federal Reserve can and should dictate the value of money for hundreds of millions of independent economic actors. That it should dictate the price of time itself...
• That bow-tied experts from ivied institutions can repeal the iron laws of economics...
• That negative interest rates are positives.

Again - there are primitives among us who reject these obvious realities. As well deny the nose upon the face, you say. Yet nothing goes home. These are impenetrable hunks of granite.

More Abominations: They may even deny the obvious fact that Washington axed the cherry tree… or that spacemen constructed the pyramids of Giza. But horror succeeds horror. For example, these fantasists further deny the truths that:

• Deficits do not matter…
• That gold is a relic truly barbarous…
• That prosperity springs from the printing press, that money and wealth are identical twins, to have money is to have wealth.

Can you believe the dullards? Should they mention the hyperinflations of Venezuela or Weimar Germany, please turn a deaf ear. What is more, they deny that rising consumer prices are economically healthful...

• That diluting the purchasing power of money yields more money, that adding water to milk equals more milk…
• That a nation indebted is a nation enriched… that a nation sunk in debt is risen in wealth…
• That the individual is a dunce, yet 300 million dunces glued together are Einstein. That is, there are dolts among us who fail to perceive democracy’s obvious genius.

We could continue. But mercy forbids it. You have had enough. But lo, a shaft of sunlight penetrates the gloom. Reality may prevail yet…

Dangerous Algorithms: The “Protecting Americans From Dangerous Algorithms Act” was introduced in October. No greater menace exists than dangerous algorithms. The desperately needed legislation would, in Mr. Roose’s telling: "Remove large tech platforms’ legal immunity for violent or violence-inciting content that their feed-ranking and recommendation systems amplified, while preserving their immunity for other user-generated content".

Thus you would be protected from dangerous algorithms. With God’s grace, this legislation will clear all hurdles. But the legislative process is lengthy. Tangled. Fraught. The nation cannot wait. It needs its reality czar immediately.

The question next arises: Who should bear the title? We can immediately eliminate Mr. John Kerry from consideration. He is occupied czaring the climate. Hillary Clinton? Bill Clinton? Robert Mueller? James Comey? Additional candidates spring to mind... Rudolph Giuliani? Sidney Powell? John Bolton? Perhaps… Donald Trump? We are spoiled for choice. Yet we trust President Biden will tap the right man’s shoulder. Much is at stake. We must resolve to end this reality crisis afflicting American democracy… even if it requires an undemocratic czar..."

"A Look to the Heavens"

“Stars are sometimes born in the midst of chaos. About 3 million years ago in the nearby galaxy M33, a large cloud of gas spawned dense internal knots which gravitationally collapsed to form stars. NGC 604 was so large, however, it could form enough stars to make a globular cluster. 
Many young stars from this cloud are visible in the above image from the Hubble Space Telescope, along with what is left of the initial gas cloud. Some stars were so massive they have already evolved and exploded in a supernova. The brightest stars that are left emit light so energetic that they create one of the largest clouds of ionized hydrogen gas known, comparable to the Tarantula Nebula in our Milky Way's close neighbor, the Large Magellanic Cloud.”