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Thursday, May 22, 2025

Free Download: Ayn Rand, "Atlas Shrugged"

"If you saw Atlas, the giant who holds the world on his shoulders, if you saw that he stood, blood running down his chest, his knees buckling, his arms trembling but still trying to hold the world aloft with the last of his strength, and the greater his effort the heavier the world bore down upon his shoulders - what would you tell him to do?"
"I... don't know. What could he do? What would you tell him?"
"To shrug."
- Ayn Rand, “Atlas Shrugged”
o
"Then you will see the rise of the men of the double standard - the men who live by force, yet count on those who live by trade to create the value of their looted money - the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law - men who use force to seize the wealth of disarmed victims - then money becomes its creators' avenger. Such looters believe it safe to rob defenseless men, once they've passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

Do you wish to know whether that day is coming? Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."
An excerpt from “Atlas Shrugged,” by Ayn Rand.
Full text of “Francisco’s Money Speech” is here:

Freely download "Atlas Shrugged", by Ayn Rand, here:

"We Are Looking Down The Barrel Of A Worldwide Credit Market Crisis That Threatens To Be Absolutely Horrific"

"We Are Looking Down The Barrel Of A Worldwide 
Credit Market Crisis That Threatens To Be Absolutely Horrific"
 by Michael Snyder

"National governments around the world are collectively more than 100 trillion dollars in debt. The United States accounts for about 35 percent of that total, China accounts for about 16 percent of that total, and Japan accounts for about 10 percent of that total. For a long time, national governments were able to fund their debt binges very cheaply, but now nervous investors are demanding higher interest rates to hold long-term government debt. This is driving up borrowing costs, and it has thrown credit markets around the globe into a state of chaos. If bond yields continue to rise at a very brisk pace, there is a risk that investors could become so nervous that credit markets actually start freezing up. If that were to happen, the entire global financial system would go completely haywire.

Yesterday, I specifically warned that we need to keep “a close eye on Japanese bond yields”.
Today, tepid demand for 20-year Japanese bonds pushed Japanese bond yields into extremely alarming territory…"The Tokyo tremor began on Tuesday, when the government tried to sell 1 trillion yen (£5.2bn) of March 2045 bonds and encountered lacklustre demand. The average bid-to-cover ratio, which measures investor appetite, dropped to 2.5 – the lowest since 2012. The 1.14-point gap between the average and lowest-accepted prices, known as the “tail”, was the longest since 1987. Investors responded by pushing the Japanese government 20-year yield to the highest this century, and the 30-year yield to a record."

This is a monster story. I don’t understand why this isn’t front page news all over the planet. The shaking of the financial system in Japan is unlike anything that we have seen in decades. Of course the U.S. financial system is being shaken as well. Moody’s just downgraded our credit rating, and Treasury bond yields continue to rise

"The 30-year Treasury bond yield last traded around 5.08%, the highest level going back to October 2023. The benchmark 10-year Treasury note yield traded at 4.59%. Long-dated bonds sold off as traders worried a new budget bill would worsen the U.S. deficit. The measure is expected to pass as lawmakers reach a compromise on state and local tax deductions as investors head into Speaker Mike Johnson’s Memorial Day deadline. Yields spiked even higher after a poor afternoon auction for 20-year debt, raising fears investors may be losing their appetite for funding America’s deficits."

Just like we are witnessing in Japan, investors are quickly losing their appetite for our bonds. We are already spending about a trillion dollars a year just in interest on the national debt, and now our borrowing costs could be headed a lot higher. This is extremely bad news.

One analyst is warning that we have entered a time when “bond traders are willing to punish high-debt nations with large deficits”…“The pressure on both Japanese and US bonds this week is a sign bond traders are willing to punish high-debt nations with large deficits,” says Kathleen Brooks, an analyst at XTB."

In other words, the party is ending. But our politicians in Washington don’t seem to have gotten the memo. The spending bill that is currently going through Congress would add another 20 trillion dollars to the national debt in the years ahead. That is suicidal. We just can’t do that.

We have been able to defy the laws of economics for a long time, but now economic reality is catching up with us in a major way. Needless to say, the Europeans are in the same boat, and Google AI says that their bond yields have been rising as well this month…"European government bond yields have generally increased this month, particularly for longer-dated bonds. For example, TradingView reports that Eurozone government bond yields rose on Wednesday due to oil price increases, with Germany’s 10-year yield up 4 basis points. Over the month, Germany’s 10-year yield has increased by 18 basis points, while the UK’s 10-year yield has increased by 19 basis points."

What we are witnessing is truly a worldwide phenomenon. The global trade war has made everyone very jittery. GDP projections have turned negative all over the planet, and some nations such as Japan have already entered contraction territory. In an environment where global economic activity is slower, that is going to make it even more difficult for national governments to bring in sufficient revenue to service their debts. So investors are demanding higher rates, and that is going to push up borrowing costs. Of course higher borrowing costs will put additional pressure on the finances of national governments.

We could potentially be entering a vicious cycle of higher rates and higher borrowing costs, and that wouldn’t be good for any of us. If interest rates rise too quickly, that could spark a major derivatives crisis. According to Google AI, interest rate derivatives account for “about 80% of the total global OTC derivatives notional outstanding”…

"The global market for interest rate derivatives (IRDs) is a significant portion of the overall derivatives market. At the end of 2023, the notional outstanding for IRDs was approximately $579 trillion. This figure represented about 80% of the total global OTC derivatives notional outstanding, as of mid-year 2023. IRDs, including interest rate swaps, forward rate agreements (FRAs), and options, are used by financial institutions to manage interest rate risk."

A major derivatives crisis would be extremely destructive. For a moment, try to imagine a giant financial tsunami that smashes one enormous financial institution after another with no end in sight. That is what we are potentially facing. For years, I have been warning about the enormous amount of exposure that the largest U.S. banks have to derivatives. But for a long time, it seemed like everything would be just fine. Unfortunately, a day of reckoning is now upon us, and it appears that this crisis could soon get really, really messy.
o
Speaking of derivatives...
"$2.5 Quadrillion Disaster Waiting to Happen – 
Egon von Greyerz"
by Greg Hunter’s USAWatchdog.com

"There is sufficiency in the world 
for Man's need but not for his greed." 
Mahatma Gandhi

"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 financial and precious metals expert. EvG is a former Swiss banker and an expert in risk. He says the risk in the global markets has never been this high.

EvG explains, “Credit has increased dramatically through derivatives. All instruments being issued now by banks, pension funds, stock funds, it’s all synthetic. There is no real underlying payments in anything almost. Therefore, my estimate for derivatives would be at least $2 quadrillion, and I think that is probably conservative. Then, we have debt on top of that of $300 trillion, and we also have a couple hundred trillion dollars of unfunded liabilities. So, we are talking about $2.5 QUADRILLION, and that’s with a global GDP of $88 trillion. So, there is a disaster waiting to happen, and especially because all this created money has created no value whatsoever. I always knew this would collapse, and it’s taken longer than I expected, but I think we are at the end of a major era. 

These derivatives, at some point soon, will actually turn into debt. Central banks will have to cover all the outstanding liabilities of the commercial banks as we are seeing now with Credit Suisse, Bank of England and etc. This is going to happen across the board. Whether it’s called derivatives or called debt, as far as I am concerned, it’s the same thing. It will have the same effect on the world financial system, which will be disastrous, of course.”

EvG says the derivative markets were simply a way for financial institutions to carry debt and not show it on their balance sheets. In the end, everything will balance out. EvG goes on to say, “Nobody can repay the debt, and they can’t even pay interest. So, therefore, when the debt implodes, so will the assets that were financed by this debt. So, both sides of the balance sheet have to come down. Whether it comes down by 50%, 75% or 90%, I don’t know. All I think about is risk, and the financial system will not survive in its present form. Central banks only use one kind of medicine, and that is more printed money. Now, you are getting negative returns on printed money. So, that is not going to save anything. 

Sadly we are looking at a situation when this system will start to implode. The rich are still rich, but the poor are really poor. Overall in the UK, Germany and most European countries, people don’t have enough money to live. This is a human disaster already. With food costs going up 25% and energy going up the same and gasoline, interest rates and rents, people don’t have enough money, and that is happening now. It’s a human disaster of mega proportions. It’s so sad, and governments will have no chance of doing anything about it. The risk is increasing exponentially,  and it is going to get worse.” There is much more in the 43-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
o

Dan, I Allegedly, "Criminals in Government? No Way!"

Full screen recommended.
Dan, I Allegedly, AM 5/22/25
"Criminals in Government? No Way!"
"The shocking truth is out - government employees misusing credit cards for personal indulgences like gambling, luxury trips, and even adult entertainment has been exposed. Watch as I break down this outrageous scandal and discuss how billions of taxpayer dollars were wasted without accountability! Two senators, James Comer and Joni Ernst, are leading the charge to bring transparency to this madness. We also touch on other eye-opening topics, including the value of your genetic data being sold without your consent, Home Depot's response to the cooling housing market, and Elon Musk's recent announcements about his future plans. Plus, find out about the latest business closures and how crime is impacting small businesses across the country. Do you think these individuals should face jail time? Let me know your thoughts in the comments!"
Comments here:

Bill Bonner, "Capitol Farce"

"Capitol Farce"
by Bill Bonner

From the ranch at Gualfin - "‘Don’t f*** around with Medicaid...’ - -Donald Trump to House Republicans

We remind readers that we do not take sides...nor do we imagine that we know the future. Our goal is merely to try to understand the Primary Trend and thus avoid the Big Loss. Being on the right side of the Primary Trend is the real key to increasing long-term wealth. So far this century, investors beat the stock market (the Dow) three to one, just by being in the best, safest asset class - gold. Can that go for another 25 years? We don’t know...that’s why we’re paying attention to the farce now playing out on Capitol Hill.

We also remind ourselves that the Primary Trend is not determined by what people want...or what they expect. Instead, they get what they deserve... shaped by patterns of history rather than the conscious efforts of those who live in it. In the news yesterday... Barrons: "The bond market’s May meltdown has taken a turn for the worse. Long U.S. bonds sold off Wednesday, pushing their yields through their 5% ceiling…. Bond yields and prices move inversely. The rise in yields was exacerbated by a disappointing 20-year U.S. Treasury auction.

That 5% level has been the general cap on the 30-year for about two decades, and the security hasn’t closed above it since October 2023. The 10-year Treasury’s yield, at 4.539% on Wednesday, has moved past its own psychological threshold of 4.5%."

Why are bonds selling off? Congressman Thomas Massie told us yesterday. Bond buyers have eyes and ears. They see Congress recklessly passing another big spending/big debt budget...and they “realize we aren’t fiscally responsible.”

Bloomberg: "Congress Pulls Tax Cut All-Nighter With SALT Fight Unresolved." Once the House passes the bill, the Senate could take weeks - if not months - to revise and approve the legislation. The Republican budget proposal...already more than 1,000 pages of exceptions, qualifications, ifs and maybes... is getting more complicated all the time.

We can simplify. The idea is to pass a ‘big, beautiful bill’ that changes everything... but nothing. Some spending will be cut. Some will increase. Some people will get a juicy plum (keep reading)...others will get lumps of coal. The ‘all nighters’ determine which group has the stamina, insomnia, or lobbyists to get what it is after.

Here’s another headline from yesterday. USA Today: "Senate unanimously approves bill to create tax deduction for cash." The deduction would only apply to cash tips and could be claimed by people who earn up to $160,000, which would rise along with inflation. Wow. Not a single member of the Senate thinks that tips should be treated like any other form of income. Not a one of them, apparently, is worried about raising deficits by reducing taxes.

This is a sign of a country that is not ready for a major change in direction...one that is not desperate for reform. And how about this? Donald Trump went over to Capitol Hill. His mission: to make sure Republicans didn’t actually try to cut spending. In addition to telling them not to ‘f*** with Medicaid,’ he told them that he didn’t want ‘anything meaningful’ cut, but was instead focused on ‘waste, fraud and abuse.’

This is what you’d expect...from a leader who is not interested in real disruption. No need to make sacrifices. No need to change course. No need to cut ‘anything meaningful’. Things are basically OK; just trim out the ‘waste, fraud and abuse.’ Are we already headed to a $60 trillion national debt...with interest payments that will take up half of all tax receipts? What’s the big worry? We’ll cut taxes on tips...and make the deficits even larger.

Have Medicare rolls doubled...to 80 million people (Trump himself added 10 million of them during his first term) since Obama expanded the program? Do they not cost $11,600 per person? And couldn’t $4 trillion be saved by turning back the eligibility standards to the pre-Obama era? Couldn’t America really be made Great Again if some fundamental changes were made? Nah, never mind...don’t f*** with it."

Gregory Mannarino, "This Is Not A 'Reset', This Is A Global Detonation"

 Gregory Mannarino, AM 5/22/25
"This Is Not A 'Reset', This Is A Global Detonation"
Comments here:

"Remember us saying to expect more propaganda than ever before? More deceptions? More lies? More distractions? Well…Here are headlines from today.

1. “Jobless claims point to steady job growth in May.”
2. “U.S. economy improves in May after slump last month, S&P PMI surveys show.”

Now, lets break this down…one at a time:

1. Jobless Claims “Steady Job Growth”: Claim. Fewer people filing for unemployment = more people getting hired.
Fact: It doesn’t mean more hiring. It means people ran out of benefits, people stopped applying. It means more people are now working multiple part-time jobs just to survive, (temp work, gig economy, no benefits).

2. “U.S. Economy Improves” Based on S&P PMI. Small upticks are seasonal noise invariably revised down. Meanwhile…
Fact: Corporate defaults are rising.
Fact: Credit card delinquencies are surging.
Fact:. Consumer savings are gone.
Fact: Mortgage applications are collapsing.

It’s like saying the Titanic is “sailing smoother” while it’s already halfway underwater.

Remember This, The Playbook of Babylon:
• Cherry pick soft data.
• Frame it as a recovery.
• Push it through media mouthpieces.
• Suppress hard truth (real wages, debt delinquencies, food insecurity).

This isn’t analysis. This is narrative management."
- GM

Adventures With Danno, "Unbelievable Prices at Kroger"

Full screen recommended.
Adventures With Danno, 5/22/25
"Unbelievable Prices at Kroger"
Comments here:

Wednesday, May 21, 2025

Jeremiah Babe, "Americans Giving Up And Living In Storage Sheds"

Full screen recommended.
Jeremiah Babe, 5/21/25
"Americans Giving Up And Living In Storage Sheds; 
Bonds Soar AS Debt Crisis Threatens Global Economy"
Comments here:

"Americans Say, 'This Is The Worst Economy Since 1978'"

Full screen recommended.
Michael Bordenaro, 5/21/25
"Americans Say, 
'This Is The Worst Economy Since 1978'"
Comments here:

"Target Just Dropped a Bombshell - The Unthinkable Has Started!"

Full screen recommended.
Steven Van Metre, 5/21/25
"Target Just Dropped a Bombshell - 
The Unthinkable Has Started!"
Comments here:

Musical Interlude: Moody Blues, "Nights In White Satin"

Moody Blues, "Nights In White Satin"

"A Look to the Heavens"

“What powers are being wielded in the Wizard Nebula? Gravitation strong enough to form stars, and stellar winds and radiations powerful enough to create and dissolve towers of gas. Located only 8,000 light years away, the Wizard nebula, pictured below, surrounds developing open star cluster NGC 7380. Visually, the interplay of stars, gas, and dust has created a shape that appears to some like a fictional medieval sorcerer.
The active star forming region spans 100 about light years, making it appear larger than the angular extent of the Moon. The Wizard Nebula can be located with a small telescope toward the constellation of the King of Aethiopia (Cepheus) Although the nebula may last only a few million years, some of the stars being formed may outlive our Sun.”

"The Gods Laugh At Your Plans: Chekhov, Jaspers, And Life-changing Moments"

"The Gods Laugh At Your Plans: 
Chekhov, Jaspers, And Life-changing Moments"
The most momentous and significant events in our lives 
are the ones we do not see coming. Life is defined by the unforeseen.
by Jonny Thomson

"You’re in the shower one day, and you feel a lump that wasn’t there before. You’re having lunch when your phone rings with an unknown number: there’s been a crash. You come home and your husband is holding a suitcase. “I’m leaving,” he says.

Life is inevitably punctuated by sudden changes. At one moment, we might have everything laid out before us, and then an invisible wall stops us in our tracks. It might be an illness, a bereavement, an accident or some bad news, but life has a habit of mocking those who make plans. We can have our eyes on some distant shore, some faraway horizon, only to find everything come crashing down by the most unseen of events. As the Scottish poet Robert Burns wrote, “The best laid schemes o’ Mice an’ Men. Gang aft agley” (often go wrong).

In Anton Chekhov’s remarkable play, "The Seagull," we meet a cast of characters who are all, in some way, in love with something. The young, idealistic artist Konstantin is in love with the idea of pure art. Arkadin, his mother, is in love with her fans and her celebrity. Konstantin’s girlfriend, Nina, is in love with becoming rich and famous. Everyone in the play has some kind of ambition and plan, or they live in regret over the life they chose. They rail against how misguided or mistaken their life has been, while longing for something else.

They are each like a seagull, flying over the sea or a great lake, and aiming purposefully for the shore. The view up there is wonderful. But the longer the seagull flies, the more oblivious they are to how they tire or weaken. They’re so fixated on some distant horizon that they’re at the mercy to life’s sudden changes. They’re blinkered and distracted, and the gods love nothing more than the hopeful hubris of mankind.

At one point in the play, Chekov has the character Trigorin recount a short story about a gull flying over a lake who’s, “happy and free.” But in the next moment, “a man sees her who happens to come that way, and he destroys her out of idleness.” The seagull is killed, its flight and plans annihilated, in one instant of random thoughtlessness.

Boundary Situations: While so much of our lives are spent in planning and preparation, the most transformative and significant moments are those which come at us out of the blue. These are what the psychiatrist Karl Jaspers called “boundary situations” - the ones we cannot initiate, plan, or avoid. We can only “encounter” them. These are not the mundane, everyday parts of our life - what Jaspers calls “situation being” - but rather they are things which thunder down to shake the foundations of our being. They change who we are. Although these “boundary situations” (sometimes called “limit situations”) change a bit in Jaspers’ works, he broadly sorted them into four categories:

Death: Death is the source of all our fear. We fear our loved ones dying, and we fear the moment and fact of our own death. When we know grief and despair, or when we reflect on mortality, we are transformed. We always know about death, but when it’s a boundary situation, it comes crashing into our lives like some grim scythe; an unforeseen curtain call. The awareness and subjective encounter with death transforms us.

Struggle: Life is a struggle. We work for food, compete for resources, and vie with each other for power, prestige, and status in almost every context there is. As such, there are moments when we are inevitably overcome and defeated, but also when we are victorious and champion. The final outcomes of struggle are often sudden and great, and they make us who we are.

Guilt: Hopefully, there comes a moment for each of us when we finally accept responsibility for things. For many, it comes with adulthood, but for others it comes much later still. It’s the awareness that our actions impact all around us, and our decisions echo into the world. It’s seeing the damage or tears we’ve caused. It’s to recognize that, however small or big, we’ve hurt and upset someone. It’s a profound pull of the heart that changes how we live, and it often comes on unexpectedly.

Chance: No matter how neat and ordered we might want our world to be, there will always be a messy, chaotic, and unpredictable exception. We can hope for the best, and make the plans we want, but we can never take a steering handle on the facts that will affect our existence. According to Jaspers, we each prefer, “assembling functional and explanatory structures… whose central axis lies in sufficient reason” and yet, “despite this, it is not possible for man to control and explain everything. In fact, day by day he faces events that he cannot call anything else other than coincidences or hazards.” We want order, and regularity. What we get is the mercurial and capricious throes of chance.

The best laid plans: What Chekhov’s Seagull and Jaspers’ “boundary situations” get right is that we are each much more vulnerable than we might want to allow. A wedding, three years and a fortune to plan, is ruined by a stomach bug. An hour-long journey home for Christmas winds up getting you stuck in the traffic of a freak snowstorm. A lifetime achievement is overshadowed by a national disaster. Our lives are defined by the unforeseen. We have our dreams, hopes and are flying to some faraway shore. Yet life doesn’t care. Around every corner, at every flap of our wings, everything can change."
If you caught a glimpse of your own death,
would that knowledge change the way you live the rest of your life?"
- Paco Ahlgren, "Discipline"

The Poet: Rainer Maria Rilke, "I Want A Lot"

"I Want A Lot"

"You see, I want a lot.
Perhaps I want everything:
the darkness that comes with every infinite fall
and the shivering blaze of every step up.

So many live on and want nothing
and are raised to the rank of prince
by the slippery ease of their light judgments.
But what you love to see are faces
that so work and feel thirst...

You have not grown old, and it is not too late
to dive into your increasing depths
where life calmly gives out its own secret."

- Rainer Maria Rilke

"We Are All Born Mad..."

 
Seal, "Crazy"

"I Will..."

And so will you... Never give up!

"Whatever Your Fate Is..."

“Whatever your fate is, whatever the hell happens, you say, “This is what I need.” It may look like a wreck, but go at it as though it were an opportunity, a challenge. If you bring love to that moment - not discouragement - you will find the strength there. Any disaster you can survive is an improvement in your character, your stature, and your life. What a privilege! This is when the spontaneity of your own nature will have a chance to flow. Then, when looking back at your life, you will see that the moments which seemed to be great failures, followed by wreckage, were the incidents that shaped the life you have now. You’ll see this is really true. Nothing can happen to you that is not positive. Even though it looks and feels at the moment like a negative crisis, it is not. The crisis throws you back, and when you are required to exhibit strength, it comes.”
~ Joseph Campbell

The Daily "Near You?"

Nanaimo, British Columbia, Canada. Thanks for stopping by!

"The Last Time Always Happens Now"

"The Last Time Always Happens Now"
by David Cain

"William Irvine, an author and philosophy professor I’m a big fan of, often tries to point people towards a little-discussed fact of human life: "You always know when you’re doing something for the first time, and you almost never know when you’re doing something for the last time."

There was, or will be, a last time for everything you do, from climbing a tree to changing a diaper, and living with a practiced awareness of that fact can make even the most routine day feel like it’s bursting with blessings. Of all the lasting takeaways from my periodic dives into Stoicism, this is the one that has enhanced my life the most. I’ve touched on it before in my Stoicism experiment log and in a Patreon post, and I intend to write about it many more times in the future (but who can say?)

To explain why someone might want to start thinking seriously about last times, Bill Irvine asks us to imagine a rare but relatable event: going to your favorite restaurant one last time, knowing it’s about to close up for good.

Predictably, dining on this last-ever night makes for a much richer experience than almost all the other times you’ve eaten at that restaurant, but it’s not because the food, decor, or service is any different than usual. It’s better because you know it’s the last time, so you’re apt to savor everything you can about it, right down to the worn menus and tacky napkin rings. You’re unlikely to let any mistakes or imperfections bother you, and in fact you might find them endearing.

It becomes clearer than ever, in other words, how great it was while it lasted, and how little the petty stuff mattered. On that last dinner, you can set aside minor issues with ease, and appreciate even the most mundane details. Anything else would seem foolish, because you’re here now, and this is it. It might even occur to you that there’s no reason you couldn’t have enjoyed it this much every time you dined here – except that all the other times, you knew there would be more times, so you didn’t have to be so intentional about appreciating it.

That’s an exceptionally rare situation though. Almost always, we do things for the last time without knowing it’s the last time. There was a last time – on an actual calendar date – when you drew a picture with crayons purely for your own pleasure. A last time you excitedly popped a Blockbuster rental into your VCR. A last time you played fetch with a certain dog. Whenever the last time happened, it was “now” at the time.

You’ve certainly heard the heart-wrenching insight that there’s always a last time a parent picks up their child. By a certain age the child is too big, which means there’s always an ordinary day when the parent picks up and puts down their child as they have a thousand times before, with no awareness that it was the last time they would do it.

Ultimately there will be as many last times as there were first times. There will be last time you do laundry. A last time you eat pie. A last time you visit a favorite neighborhood, city, or country. For every single friend you’ve ever had, there will be a last time you talk, or maybe there already has been.

For ninety-nine percent of these last times, you will have no idea that that’s what it is. It will seem like another of the many middle times, with a lot more to come. If you knew it was the last-ever time you spoke to a certain person or did a certain activity, you’d probably make a point of appreciating it, like a planned last visit to Salvatore’s Pizzeria. You wouldn’t spend it thinking about something else, or let minor annoyances spoil it.

Many last times are still a long way in the future, of course. The trouble is you don’t know which ones. The solution, Irvine suggests, is to frequently imagine that this is the last time, even when it’s probably not. A few times a day, whatever you’re doing, you assume you’re doing that thing for the last time. There will be a last time you sip coffee, like you’re doing now. What if this sip was it? There will be a last time you walk into the office and say hi to Sally. If this was it, you might be a little more genuine, a little more present.

The point isn’t to make life into a series of desperate goodbyes. You can go ahead and do the thing more or less normally. You might find, though, that when you frame it as a potential last time, you pay more attention to it, and you appreciate it for what it is in a way you normally don’t. It turns out that ordinary days are full of experiences you expect will keep happening forever, and of course none of them will.

It doesn’t matter if the activity is something you particularly love doing. Walking into a 7-11 or weeding the garden is just as worthy of last-time practice as hugging a loved one. Even stapling the corner of some pages together can generate a sense of appreciation, if you saw it as your final act of stapling in a life that’s contained a surprising amount of stapling.

Irvine uses mowing the lawn as an example, a task he doesn’t love doing. If you imagine that this is the last time you’ll mow the lawn, rather than consider it a good riddance, you might realize that there will be a time when you’ve mown your last lawn, and that there were a lot of great things about living in your lawn-mowing, bungalow-maintaining heyday. A few seconds later, it dawns on you that you still are.

You can get very specific with the experiences you do this with. The last time you roll cookie dough between your palms. The last time you get rained on. The last time you sidestep down a crowded cinema aisle. The last time your jeans smell like campfire smoke. The last time your daughter says “swannich” instead of “sandwich.” Virtually everything is a worthy candidate for this reflection.

It always brings perspective to your life as it is now, and it never gets old. It’s an immensely rewarding exercise, but it not a laborious one. It takes only two or three seconds - allowing yourself “a flickering thought,” as Irvine put it - to notice what you’re doing right now, and consider the possibility that this is indeed the last escalator ride at Fairfield Mall, the last time you put on a Beatles record, the last time you encounter a squirrel, or the last time you parallel park in front of Aunt Rita’s building."
o
Full screen recommended.
The Rolling Stones, "The Last Time"

"And Never, Never To Forget..."

"To love. To be loved. To never forget your own insignificance. To never get used to the unspeakable violence and the vulgar disparity of life around you. To seek joy in the saddest places. To pursue beauty to its lair. To never simplify what is complicated or complicate what is simple. To respect strength, never power. Above all, to watch. To try and understand. To never look away. And never, never, to forget."
- Arundhati Roy

Dan, I Allegedly, "What Do You Do When Disaster Strikes?"

Full screen recommended.
Dan, I Allegedly, AM 5/21/25
"What Do You Do When Disaster Strikes?"
"In this video, I discuss the disaster that left millions helpless and the critical importance of planning for unexpected events. From the Cellcom outage impacting Michigan and Wisconsin to a devastating fire that destroyed a well-loved Rhode Island restaurant, these real-world examples highlight why having a solid backup plan matters. What would you do if your phone stopped working or your workplace disappeared overnight? Let’s explore these tough scenarios together and how to stay prepared."
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"14 Words"

"14 Words"
by Paul Rosenberg

"Imagine a pretty spring day. You’re standing on your front porch or some other pleasant vantage point and looking out at a sunlit landscape: trees, grass, and singing birds. Then your five-year-old child or grandchild walks up to you and tugs on your hand to get your attention. You turn and the child asks, “What kind of world is this?” What do you reply?

This child deserves the truth. You won’t be able to use fancy words or long explanations, but truth doesn’t require those things. This child is ready to hear the truth about the world. This kind of moment comes along haphazardly, and you can’t be sure if or when another might show itself. Your answer may affect this child for the rest of his or her life. What do you say?

The 14 Words: As you stand on the porch, away from everything but nature and your child, the only intimidations, biases, and slogans present will be those inside of you… and your child should be insulated from such things. You have to speak truth. And as I say, it doesn’t have to be long and complex; in fact it can’t be, if you want to help a five year old. And it comes to just 14 words:

We are a beautiful species, living in a beautiful world, ruled by abusive systems.

Later – after true words have sunk into the young mind – you can explain that we’re not a perfectly beautiful species, that most people are often confused and that a few are just plain bad. You can further explain that volcanoes and hurricanes and grizzly bears exist. But if you value your child enough to tell them the plain truth, you’ll tell him or her the 14 words first and let them sink in before getting to the small print. With that said, I’ll move to some explanation for the adults.

A Beautiful Species: 11,000 or 12,000 years ago, humanity – perhaps five million of them – stumbled out from an ice age and began to spread across the earth, most of them having nothing in the way of science and technology. Since then, we’ve learned to fill the earth with food, build machines that race across the face of the earth, sail oceans and streams, and fly through the atmosphere at fantastic speeds. Imagine trying to explain these things to the people wandering away from their receding glaciers. And not only this, but we’ve cured the vast majority of diseases, figured out the smallest parts of the machinery of life, built compendia of human knowledge, made them available anywhere and everywhere, and landed men on the moon.

We are a magnificent species. If that triggers “Never forget the darkness!” voices in you, please hang on to “We are a magnificent species” until they subside. Here are two passages from G.K. Chesterton’s book, "The Defendant," that bear upon dark, automatic thoughts:

"There runs a strange law through the length of human history – that men are continually tending to undervalue their environment, to undervalue their happiness, to undervalue themselves. The great sin of mankind, the sin typified by the fall of Adam, is the tendency, not towards pride, but towards this weird and horrible humility."

"Every one of the great revolutionists, from Isaiah to Shelly, have been optimists. They have been indignant, not about the badness of existence, but about the slowness of men in realizing its goodness."

You can find the same thing in the Bible, by the way. Theologies be damned, this is what Psalm 82 says, and which Jesus repeated: "You are gods; all of you children of the most High."

A Beautiful World: This is a beautiful world. Get out and look at it: lay outside on a summer night and gaze at the stars for an hour; explore the wilderness. Don’t watch it on TV; go out and experience it. It is beautiful. Perhaps not perfectly beautiful, but one flaw among fifty beauties does not negate those beauties.

Abusive Systems: We all know the systems that rule mankind are abusive. I’m not going to itemize, since we complain about these things every day. You already know. The problem with most of mankind is not that they can’t recognize abuse; it’s that they think they deserve it.

Now, let’s be clear on another thing: Rulership requires us to stay focused on evil. They have to frighten people and portray their competitors as “evil Huns.” They have to publicize threat levels and convince people they need to be saved from impending death. And of course, their dear friends in the media promote evil-consciousness 24/7. Do you think, just maybe, that all this fear has bad effects upon us?

The Truth: The truth is that we are surrounded by people who cooperate, who assist one another, and who care about one another. But those aren’t the things we think about – those are things we’ve learned to ignore. The flashing images of evil surround us and scream at us, after all: The Russians are going to attack, the other candidate is going to destroy all you hold dear, SARS (or bird flu or swine flu or Ebola) is about to kill us all! It’s a long, dark symphony of manipulation. The truth is we’re a beautiful species, living in a beautiful world. The systems that wish to rule us are quite otherwise."
Full screen recommended.
Moody Blues, "Eyes of a Child"

Greg Hunter, "Baking a Gigantic Currency Crisis into the Cake"

"Baking a Gigantic Currency Crisis into the Cake"
By Greg Hunter’s USAWatchdog.com

"Analyst and financial writer John Rubino has a new warning concerning Trump’s “Big Beautiful Bill” making its way through Congress and Moody’s downgrade of US debt. The Big Beautiful Bill is going to explode the debt by $20 trillion in the next 10 years, and the credit downgrade has people like billionaire investment fund founder Ray Dalio worries about money printing to pay the $1.5 trillion in interest on federal debt. Rubino warns, “The story with Moody’s downgrade isn’t that they did it, that they moved the US from triple A (Aaa) to one notch below (Aa1). It’s kind of insane that a government with 125% of GDP has an investment rating at all. Right? They are clearly baking a gigantic currency crisis into the cake. Ray Dalio gets it right. 

The rating agencies excuse or explanation for why the US still has an investment grade credit rating is that a country with a printing press can never default because it can just print enough money out of thin air to pay interest on its bonds, and it can do that forever. So, it’s triple A credit, which does not make any sense at all because if you just print a lot of money out of thin air to pay your debts, then your currency goes down in value, and you are paying back your creditors with depreciating currency, which is a form of default. The credit rating agencies are only looking at one kind of default where we just stop paying. They are not looking at paying with cheaper currency year after year, and we stiff our creditors that way. That’s why you don’t want to own Treasury bonds. They are not going to stop paying interest, but the interest will not cover inflation going forward. So, you will have a net real loss until they just crater, and then you will have a massive capital loss.”

On top of that, interest rates have been rising and not falling. The 30-year mortgage rate is now just under 7% again. Rubino says, “We went back up to unsustainable interest rates really quickly. The Fed has promised a couple of rate cuts this year, and for interest rates to go up while the Fed is inferring easing means we are risking losing control of the financial markets. If the Fed can’t control interest rates, we are monumentally screwed as a financial system. That’s kind of what we are headed for now. In the US, interest rates are going back up, but if you want to look at an extreme case, look at Japan. They don’t just have 30-year bonds, they have 40-year and 50-year bonds and those are cratering, which is to say the interest rates on those bonds are spiking. Long term Japanese bonds used to be 0%. Now, they are 3% and change. That change is huge. 

 So, Japan, the US, Europe, the UK and China, all of these big countries are basically making the same mistakes, and they are all headed in the same direction. We are in the early stage of a currency death spiral where interest rates start to go up and the government can’t control that and then their debt goes parabolic and this goes until everything breaks down. We are in the third inning of that game, and the last couple of innings are going to be hair raising. There are going to be currency crises, which we have never seen in our lifetimes. It will be fun times if you are a gold bug.”

Rubino thinks gold will go up in price way over $10,000 per ounce, and he also expects silver to take off too. Rubino says, “Silver is a great story because it is an industrial metal that is in deficit. Industrial uses are taking more silver off the markets than what they are producing, and that is going to lead to a shortage. Even if you don’t look at silver as a monetary metal, the industrial demand makes it a buy right now.”

Rubino does not think the US will be in a civil war, but Europe is going authoritarian, and civil war is most likely there if Russia does not blow them up first. Rubino thinks America will do better than Europe, but we will still have trouble, chaos and a financial reset to work through." There is much more in the 46-minute interview.
Join Greg Hunter on Rumble as he goes One-on-One with financial writer 
John Rubino of the popular site called Rubino.Substack.com

"How It Really Is"


"Generations"

"Generations"
by The ZMan

"Generational politics is one of the cruder forms of politics as it generally reduces to members of one age cohort hurling slurs at other cohorts. Ironically, the origin of this form of politics is the baby boomer generation, who were the first group of Americans to form an identity around their birth cohort. Baby boomers have since been synonymous with the post-war cultural trends and the radical politics that came to dominate the second half of the twentieth century.

These days, of course, “boomer” has become an epithet due to their children using it to describe degenerate or materialistic culture. Boomers are selfish old people who only care about their stock portfolios and their lawns. They are the “greedy geezers” of this age, which is ironic in that the term first gained traction decades ago as the baby boomers started to take over politics. This is another example of how the universe has a sense of a humor and cruel streak.

Of course, thirty years ago when terms like “greedy geezer” were getting tossed around, the culture was undergoing a generational shift. The WW2 Generation was giving way to the baby boomers. Bill Clinton came to be seen as the typical boomer, ushering in a new set of morals and sensibilities to politics. For the last thirty years, baby boomer politics have been American politics. Now they are seen the out of date politics of a quickly fading era.

We are about to experience another generational culture shift as the children of the baby boom generation begin to push their parents over the side. This is why the term “boomer” has become an epithet. The derogatory use of the label is a signal that the user is not into conventional culture and politics. To reject “boomer politics” is to reject the old-fashioned dichotomy of left-versus-right, as is defined by cable news programs, talk radio and the mainstream media.

We are getting a glimpse of this in the Trump administration. Donald Trump is technically not a baby boomer. This must be said because otherwise you get six million messages explaining that the baby boomer generation starts with those born after noon on June 30th, 1946, and Trump was born on June 17, 1946. It is this sort of hairsplitting that makes generation politics so mind-numbingly stupid. It makes the blue pencil crowd seem stable minded by comparison.

That aside, Trump is emblematic of the politics and culture that we generally associate with the baby boomer generation. He is materialistic, hedonistic, and jarringly superficial in his politics. For example, his main interest in ending the Ukraine war is so we can do business deals with the Russians. The history and geopolitical import of what he is doing is never mentioned by him. For Trump, it often seems like that the only thing that matters is the acquisition of stuff.

Contrast this with J.D. Vance, the millennial man in waiting. His story is centered on his cultural journey from the underclass into the managerial class and then as a critic of the managerial system that made him possible. He is the most articulate critic of managerialism to ever hold office in Washington. It remains to be seen if he wins the White House on his own, but he is clearly setup as the heir to Trump. He will take the baton on behalf of his generation from the boomers.

Despite the millennial disdain for baby boomer culture, they are the results of it due to the fact they were raised in the product of it. Things like helicopter parenting and structured play time were boomer creations. Millennials are the first generations raised by people who used the word “parenting”, so it is no surprise that the millennials are the first to use the word “adulting.” They were raised to expect a highly structured and safe environment where everything is clearly labeled.

There is far greater cultural intensity with millennials than prior generations. For the boomers, generational politics was mostly about marketing cultural items like clothing, lifestyle choices, and music. For millennials, culture is tangled up in the structure of life, so they are more keenly aware of themselves as a cohort. They are the first generation to sense that their identity is entirely exogenous. Individually and collectively, they are who they are because of taxonomical reasons.

This shift in generational identity can be seen in how millennials react to generalizations versus how baby boomers react. Make a generalization about baby boomers and you get flooded with boomers telling you that they are not like that. Make a generalization about millennials and they will agree and amplify it. Because conformity has always been a part of millennial cultural awareness, conforming to generational stereotypes does not bother them. It is their normal.

This is another thing with millennials that is different from boomers. They expect the systems they inherited to work as described on the box. The two sides of millennial politics are from those raised on the mother’s milk of post-Marx culturalism and those raised on civic nationalism. The former is perpetually angry that things are not fair, and the latter is determined to make things work as described to them. Vance versus AOC is a duel between competence and anxiety.

That brings up something else about millennial culture. It is focused on the present, but in the context of what was promised. This makes it backward looking. The Vance side is determined to remake things, so they are what he expected, rather than something new that is a break from the past. The AOC side is similarly determined to remake the present to fit the promise, but the promise came from the New Left politics that sunk roots in the culture when her parents were kids.

Generational politics can only take you so far in getting a sense of what lies ahead for the culture and politics. Reality is the great restraint, and the millennials are inheriting an enterprise in decline, while their parents inherited one that was at its peak. This is the heart of the millennial critique of the boomers. They see their parents as living off the profits of the past and they see themselves as tasked with cleaning up the mess after a long generational party.

This is why the millennial age could turn out to be quite conservative. Necessity will mean relegating luxury beliefs to the fringe. No one has time for the hysterical and childish politics of the AOC side when there is work to be done, debts to be paid and institutions to be restructured. Millennial politics could be the domination of the organizational men, who take pride in making the machine operate and have no tolerance for throwing sand in the gears."

"Alert! The FED Warned Of 'Economic Shocks', It's Here Now. Expect Things Of Nightmares"

Gregory Mannarino, AM 5/21/25
"Alert! The FED Warned Of 'Economic Shocks', 
It's Here Now. Expect Things Of Nightmares"
Comments here:

Look at this chart below. This is the projected U.S. Federal Debt and Deficits (2025–2034). Further breakdown below. This is based on current estimates and assuming only a 5% annual increase in the deficit.
Gregory Mannarino, PM 5/21/25
"The Banks Are Being Protected 
And We The People Are Suffering For it"
Comments here:

Bill Bonner, "Tale of Two Disruptors, Part III"

Click image for larger size.
"Tale of Two Disruptors, Part III"
by Bill Bonner

"We are not makers of history. We are made by history."
- Martin Luther King Jr.

Gualfin, Salta Province, Argentina -  “This can’t go on much longer.” This was the judgement of a local rancher. Like so many other Argentines, he was ready for a change and voted for the chainsaw wielding, genuine kook - Javier Milei. Milei’s approach to Argentina’s addiction to deficits and inflation is to go cold turkey. Cut spending. Balance the budget. Fire government employees. Reduce giveaways and handouts. Liberate the economy.

It may be the only thing that works. John Dienner: Milei quickly eliminated a raft of government departments, terminated tens of thousands of government workers, produced the first budget surplus in many decades and reduced the inflation rate by over 80% - all in the first year of his presidency.

Of course, the entrenched government bureaucracy and its many beneficiaries opposed his every move... Despite their resistance, he proved that reform of a deeply corrupt and inefficient government is, in fact, possible. But it’s not easy. And it’s not over.

“Buenos Aires is as expensive as New York,” continued our informant. “But our salaries are much, much lower. I don’t know how much longer the people will put up with it.” Prices can rise quickly to international levels. But wages take more time. Capital needs to be accumulated...then, put to work in new businesses, new ventures... people hired, etc. Sales increase. GDP goes up. Wages rise.

Eventually, Milei’s program should create a freer, richer economy. But it doesn’t happen overnight. And in the meantime, the activists and something-for-nothing politicians regain their footing. They organize. They whine. They undermine. They appeal to the masses with promises of relief.

Most likely, before long, there will be mass demonstrations in the city streets of the capitol. The widespread support, now enjoyed by the Milei government (his party won by solid margins in Monday’s midterms), could soon disappear. And the liberation of the Argentine economy may not survive infancy.

History gives people what they need. Argentina, near rock bottom and facing a Venezuela-style blow-up, needed a real reformer. America, meanwhile, still near the top and beginning a long decline, needed someone who would stay the course. So, don’t expect marches down Pennsylvania avenue, protesting as the free stuff is taken away. Because it’s still coming.

How much has federal spending been cut since the Great Disruptor took office? Not a single penny. And now, the Big, Beautiful Bill cuts some domestic budgets…increases ‘security’ spending…and leaves the country going in the same direction -- with Bigger Deficits... and a Big, Bulging, Bombola of Debt!

CBS News: "The Republican-backed tax and spending bill that's now moving forward in the House is getting a reality check from Wall Street. That's because the proposed tax breaks are projected to far outstrip any savings in the bill, potentially leading to mounting U.S. debt and a worsening fiscal outlook, according to economists and policy experts. Over the next decade, the GOP bill could cost the U.S. $3.8 trillion, according to a report earlier this month by the Joint Committee on Taxation that examined the impact of the tax measures versus spending cuts."

The new bill could “add $4 trillion to the federal primary deficit” said Moody’s, the last major rating agency to downgrade US debt. But “add to the federal deficit” needs clarification. What this means is that these amounts are in addition to the $22 trillion in deficits already loaded on the train, more than $2 trillion per year scheduled to be added to federal debt over the next ten years.

We now have $37 trillion in federal debt. If this budget is passed, we will not have $3.8 trillion more...or just $40.8 trillion total. Instead, we will have a total of around $60 trillion. Or maybe $70 trillion.

Rep. Thomas Massie, one of the very few honest and intelligent members of Congress: "There’s another huge problem: it will increase the price of the $36 trillion of debt we already have, as bond buyers realize we aren’t fiscally responsible. We’re approaching $1.5 trillion of annual interest payments...over $4,000 per US citizen per year."

Perspective: the part of the Big Beautiful Bill that renews the TCJA (Trump tax cuts) will benefit each family on average by $1600, but the policies changed or left in place by the BBB will be obligate [sic] each family of 4 to $16,000 of interest payments on behalf of the federal government. And so, the march to bankruptcy continues. The Great Disruptor has done nothing to disrupt it...and nothing to prevent the obvious and inevitable consequences - inflation, chaos and crisis.

Historically, we believe the US is still in the early stages of a huge decline - one that began around 2000. It will take many years of misery before it hits bottom. Trump is merely helping the inevitable to happen. And today, we pause...with a sigh...and think about how nice it would be if we had a real disruptor in the White House, someone like Javier Milei. No, he need not take up Milei’s eccentricities - tantric sex...and taking advice from dead dogs...but perhaps he could pay more attention to the basics.

“Look,” he might have said on inauguration day. “This is a beautiful country. The people are beautiful. Beautiful people. We love them. And we’re doing beautiful things for them. Wonderful things. Incredible things. Things like nobody ever did for them. But when you’re in the hole, the first thing you have to do is stop digging. And today, we’re taking away the shovels. I’ve just signed an Executive Order. I don’t know if it is legal or constitutional, but what it says is that I’m not going along with anything that involves spending more money until the budget is balanced. We’ll worry about deporting the rapists, murderers….really bad people, who’ve been eating our pets…later.” If only."