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Monday, July 6, 2026

"Economic Market Snapshot 7/6/26"

"Economic Market Snapshot 7/6/26"

Down the rabbit hole of psychopathic greed and insanity...
Only the consequences are real - to you!
"It's a Big Club, and you ain't in it. 
You and I are not in the Big Club."
- George Carlin
o
Market Data Center, Live Updates:
Financial Stress Index

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

Sunday, July 5, 2026

"Nobody Can Deny How Broke Everyone Is Getting Now"

Full screen recommended.
Epic Economist,
"Nobody Can Deny How Broke 
Everyone Is Getting Now"
"Nobody can deny how broke everyone is getting now, and this video breaks down the numbers behind why working full time no longer covers the cost of living. You will see the receipt, the rent, and the wage that stopped adding up. Gallup recorded a record 55% of Americans saying their situation is getting worse, the highest measured in over two decades. If your paycheck feels like it disappears before the month ends, this video explains what is happening and why.

If any of this matches what you are seeing at the checkout, leave a comment and tell us what has gone up the most in your area. Subscribe for more breakdowns that connect the data to what real people are living through. Share this video with someone who has been told their money problems are their own fault.This video looks at the cost of living crisis, wage stagnation, rent and housing affordability, living paycheck to paycheck, rising insurance and utility bills, home ownership out of reach, and why so many working Americans feel broke right now despite steady jobs and full-time hours."
Comments here:

"111 Million U.S. Adults Do Not Have A Job And America Spends More Than A Trillion Dollars Per Year On A Social Safety Net For Them"

"111 Million U.S. Adults Do Not Have A Job And America Spends
 More Than A Trillion Dollars Per Year On A Social Safety Net For Them"
by Michael Snyder

"Did you know that the number of Americans that are out of work right now is far higher than it was at any point during the Great Recession? I know that sounds crazy, but I will prove it to you in this article. A whopping 111 million Americans do not have a job, and we are spending more than a trillion dollars a year on the social safety net that supports them. Of course we cannot afford to do this, because the national debt has already reached 39 trillion dollars and it is growing at an astounding rate. If we do not fix our economy, disaster is inevitable.

The bureaucrats in Washington keep telling us that the unemployment rate is low even though there are vast numbers of adults all around us that are not working. The way that they are able to do this is by dumping almost everyone that is not working into a category known as “not in labor force”. This allows them to keep the official rate of unemployment suppressed even as the labor force participation rate hits an insanely low level

"On the surface, a June drop in the unemployment rate helped provide some upside to what was an otherwise downbeat jobs report - but it was for all the wrong reasons. That’s because the decline in the jobless level to 4.2%, the lowest in a year, came largely from an exodus of workers from the labor force, according to the Bureau of Labor Statistics data Thursday. In fact, the measure of the working-age population either employed or looking for a job slid to 61.5%, the lowest since March 2021. Excluding the Covid-era jobs market, it was the lowest labor force participation rate in exactly 50 years."

Today, there are just over 7 million Americans that are officially unemployed. That doesn’t sound bad at all. But they rarely mention those that are considered to be not in the labor force. This is how the Federal Reserve defines that category…"Persons who are neither employed nor unemployed are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work."

As you can see from the chart below, the number of people that they have been dumping into that category has grown dramatically since 1990. Right now, there are 104 million Americans that do not have a job that are considered to be not in the labor force…
When you add the 7 million Americans that are officially unemployed to the 104 million Americans that are considered to be not in the labor force, you get a grand total of 111 million Americans that do not have a job right now. At no point during the Great Recession did that combined figure ever reach 100 million. That is how bad things are in the U.S. at this moment.

Of course the 111 million Americans that are not working need to be supported somehow. Some of them are supported by other family members that have incomes coming in. But most of them are either partially or totally supported by our social safety net.

According to the House Ways and Means Committee, we spend more than a trillion dollars a year on more than 80 different social safety net programs…"Buying Americans out of poverty is undermining incentives to work, with families living in poverty relying more on taxpayer-funded welfare checks than income from work, according to a newly released report from the Congressional Budget Office (CBO). Costing well over $1 trillion, America’s social safety net encompasses more than 80 federal programs, and is discouraging beneficiaries from seeking income from work.

The report, which was requested by Ways and Means Committee Chairman Jason Smith (MO-08), shows low-income families are becoming increasingly dependent on government transfers. In 1979, families living below the poverty line earned about 60 percent of their income from work. In 2021, that number dropped to an all-time low of around 25 percent. The report also shows how the dramatic increase in dependency on government transfers for low-income families was accelerated by COVID-era benefits."

Read that first paragraph again. I had no idea that it was this bad. For over a decade I have been writing about America’s ongoing economic collapse, and now we have reached a very advanced stage. If the federal government was not supporting them, tens of millions more Americans would be living in poverty right now. So what would our society look like if we stopped borrowing gigantic mountains of money to fuel this system? And each day, even more Americans are losing their places in the middle class because they are getting laid off.

In fact, it is being reported that Microsoft is preparing for yet another round of massive layoffs…"Microsoft is reportedly planning another round of layoffs, expected to be announced as early as next week. The cuts will impact thousands of roles across sales, consulting, and the Xbox gaming division. Total layoffs will amount to less than 2.5%% of the company’s workforce. Microsoft employs roughly 220,000 people across the globe. The company eliminated approximately 15,000 positions just last year - 6,000 layoffs in May 2025 and another 9,000 layoffs in July 2025."

But if we just throw the entire country into the “not in labor force” category, we can pretend that the unemployment rate is at 0.0 percent and that everything is just fine, right?

What a joke. Of course most Americans that are actually working are really struggling these days. Home prices in the U.S. have risen by about 60 percent since the beginning of the last pandemic, and at this stage housing in the U.S. is more unaffordable than it has ever been before…"Home prices have grown by roughly 60 percent since the onset of the COVID-19 pandemic, according to JP Morgan data. Mortgage rates are historically high, and have been so since 2022. And the U.S. homeownership rate hit its lowest level since 2019 last year, at 65 percent, according to Census data.

“I think right now the housing market is pretty unprecedented,” Daryl Fairweather, chief economist at Redfin, told Newsweek. “We have the highest home prices that have ever been on record, along with pretty high mortgage rates. The mortgage rates aren’t the highest we’ve seen on record - they exceeded 18 percent in 1981 - but they are higher than they have been for the last 10 years or so. And so housing affordability has gotten really bad, especially for young people who don’t already own homes. Breaking into the housing market is incredibly tough.”

How are young adults supposed to purchase homes in this environment? Home prices have risen far faster than incomes have, and this has “put homeownership out of reach for millions of millennial and Gen Z Americans”…Back in 1975, a typical home cost about 2.4 times as much as the average under-40 household earned in a year, a standard measure of housing affordability, according to a new report from Pew Research Center. By 2019, that price-to-income ratio had risen to 2.9. In 2024, it reached 3.5. Over the past decade, home prices have risen much faster than wages. The rising ratio of price to income, coupled with elevated interest rates, has put homeownership out of reach for millions of millennial and Gen Z Americans.

This is one of the biggest reasons why young adults are so angry. They simply can’t afford to live normal lives. Last year, the percentage of first-time homebuyers dropped to the lowest level ever recorded…First-time buyers represented only 21% of all home purchasers in 2025, a record low, according to the National Association of Realtors. The typical age of a first-time buyer climbed to 40, an all-time high.

Meanwhile, virtually everything else is becoming more expensive too. For example, the price of ground beef is up 13 percent over the past year, and that price of steak is up 16 percent over the past year…"The average price of ground beef was $6.75 per pound in May, according to U.S. Bureau of Labor Statistics data, up nearly 13% from a year ago and just below April’s record high of $6.90. Beef steak prices averaged $12.80 per pound, up 16% from a year earlier and the second-highest level on record."

Tens of millions of Americans are deeply hurting right now, and what we have experienced so far is just the beginning. This is why I rant about the economy so much. I hear from so many people out there that are in very real pain. Decades of very foolish decisions have resulted in decades of economic decline, and now we really have reached a breaking point."

Jeremiah Babe, "Newport Beach California Erupts Into Civil Unrest"

Jeremiah Babe, 7/5/26
"Newport Beach California Erupts Into Civil Unrest"
Comments here:
o

Musical Interlude: Afshin, "Prayer of Change"

Full screen recommended.
Afshin, "Prayer of Change"

"A Look to the Heavens"

"Gorgeous spiral galaxy NGC 3521 is a mere 35 million light-years away, toward the constellation Leo. Relatively bright in planet Earth's sky, NGC 3521 is easily visible in small telescopes but often overlooked by amateur imagers in favor of other Leo spiral galaxies, like M66 and M65. It's hard to overlook in this colorful cosmic portrait, though.
Spanning some 50,000 light-years the galaxy sports characteristic patchy, irregular spiral arms laced with dust, pink star forming regions, and clusters of young, blue stars. Remarkably, this deep image also finds NGC 3521 embedded in gigantic bubble-like shells. The shells are likely tidal debris, streams of stars torn from satellite galaxies that have undergone mergers with NGC 3521 in the distant past."

"More Often Than Not..."

“Human beings have always employed an enormous variety of clever devices for running away from themselves, and the modern world is particularly rich in such stratagems. We can keep ourselves so busy, fill our lives with so many diversions, stuff our heads with so much knowledge, involve ourselves with so many people and cover so much ground that we never have time to probe the fearful and wonderful world within. More often than not we don’t want to know ourselves, don’t want to depend on ourselves, don’t want to live with ourselves. By middle life most of us are accomplished fugitives from ourselves.”
- John Gardner

"We May Know..."

“We may know that the work we continue to put off doing will be bad. Worse, however, is the work we never do. A work that’s finished is at least finished. It may be poor, but it exists, like the miserable plant in the lone flowerpot of my neighbor who’s crippled. That plant is her happiness, and sometimes it’s even mine. What I write, bad as it is, may provide some hurt or sad soul a few moments of distraction from something worse. That’s enough for me, or it isn’t enough, but it serves some purpose, and so it is with all of life.”
- Fernando Pessoa

"The Courage To Meet Eddie"

"The Courage To Meet Eddie"
by Alex Noble

"Life, like good theater, is full of surprises and unexpected twists in the plot. How satisfying it is when we can surprise ourselves, break through "stereotypes," and move beyond fear to embrace more compassionate points of view. I experienced this on a trip to Los Angeles.

I drove into the city at sunset, into the older part of downtown where turn-of-the-century office buildings barely hold their own against the rising tide of urban decay. As the sun gilded skyscrapers, broken neon signs flickered in the windows of delicatessens and novelty shops on Spring Street. Old newspapers blew up and down the sidewalks, fluttering like wounded birds in debris-laden corners. Winos and addicts slumped against buildings or lay down on the sidewalk to catch a few moments of merciful sleep. Drugs were being sold on the street corners. Disoriented men and women wandered listlessly about, some of them shouting, some of them just staring blankly ahead. An old woman pushed a broken-down supermarket cart filled with faded clothes and torn shopping bags. A tired-looking man held up a sign scrawled on cardboard: "Will work for food." Shiny BMW's and Mercedes whispered through the darkening streets, bearing tired executives home to well-watered gardens.

I was early, and the parking lot next to the theater was still almost empty. A bored-looking attendant stood by the gate to keep the homeless and drunks from accosting the arriving theatergoers. A restless, warm wind tossed newspapers in front of my car.

An angry-looking man in a black coat three sizes too large for him shuffled by, trying to get the attention of anyone who might listen to his litany of complaints about the government. I felt uncomfortable and looked forward to getting inside the marble foyer of the theater, and then into the performance itself. There, for a few hours, we the audience would suspend our disbelief and enter into an imaginary world where we would laugh and cry and be entertained. For a few hours, we would forget our own problems and the problems of the world, which in this immediate area appeared to be a vivid reality of suffering that pressed upon one at every turn.

I drove to the back of the lot and parked, dreading the walk to the theater entrance, haunted by questions. Should I hand out dollar bills to those in need? Should I stop and try to talk if someone seemed rational? Should I carry a supply a supply of Salvation Army meal tickets for occasions like this?

I gathered my courage and got out of the car. As I locked the door, I heard a voice calling to me. "Hey, can you spare some change?" I froze with dread and looked up. On the other side of the 10-foot chain-link fence I saw a man. His hands gripped the wire. His head was shrouded in the navy-blue hood of a stained, torn jacket. Suddenly I was painfully aware of my glistening car and colorful clothes. I felt frightened and awkward, even with the fence separating us. Was I in danger? Did he have a gun? Was he going to shout at me, ask questions I could not answer, make me feel guilty for having so much when there are so many who have so little?

I saw in my mind's eye a sunset scene from the airport in Jakarta, where the plane I was on had stopped to refuel. There was a similar fence, but against that fence hundred of people crowded, looking hostile, saying with their eyes and in a language I could not understand. "You are the enemy. We do not want you here. Go home." Even with the fence as a barrier between us, I could feel the hatred, and I felt helpless to do anything about it except send back thoughts of peace, respect, and compassion.

Now I had a choice. I could turn and walk away. I could move closer, perhaps say a kind word. The man called again, "Hey, Beam!" I was startled for a moment, but then I realized that he could see my license place, "BEAM 1." "Hey, Beam, I need to eat. Can you help me out?"

A force larger than my intellect or my sense of danger drew me toward the fence. I was painfully aware that the total cost of what I was wearing could feed this man for several months. I kept my eyes on the ground. I seemed to be moving slowly, as if in a dream, wanting to help but not knowing how, my feet feeling heavy yet moving ahead anyway.

I reached the fence and looked up. I looked first, as the stained hands holding onto the fence, then I looked into the eyes. They were kind, even friendly. The man smiled a shy smile. "What's your name?" I asked. My feet felt lighter. My fear hung in the air between us. In my imagination, I watched it evaporate, like a cloud of steam. "Eddie," he replied. I handed him a $10 bill. "Get yourself a good dinner, Eddie." "Thanks, Beam. I really appreciate this." I felt tears trembling behind my eyelids, and I turned to walk away. "You be good, Eddie," I said over my shoulder.

In two minutes, I was in the crowded theater lobby, threading my way through well-dressed theatergoers. I was detached, remembering Eddie's kind eyes, his hands holding the fence, his playful smile. I realized, with some sadness, that it was quite possible I'd just given an addict the money for his next hit of crack or worse, and I did not feel very good about this. The play began, and for three hours I disappeared into a mythic world of illusion, transformation, and redemption. The basic message: Within every dragon is a princess, and within every inferno there is a paradise, if we know what to look for and if we have the eyes and the heart to see.

I found myself thinking kind thoughts about Eddie, sending him kindness in the night, knowing all was well with him. As I left the theater, there was a gathering of rumpled, untidy street people at the theater entrance. Some people stopped to visit with them, give them a few dollars. Others walked by, lost in their own worlds. By the time I got to the parking lot, many of the cars had left, and the attendant was no longer there.

As I walked to the back of the lot to get to my car, I noticed a man, leaning against the fence, right where Eddie had been, and my heart froze. I stopped. The man called out: "Hey, Beam, come here a minute."

I felt as though I had no choice. My humanity, compassion, or maybe just sheer craziness would not let me turn away. I walked to the fence and looked Eddie in the eyes, those kind brown eyes. I felt my fear dissolving again, watched that imaginary cloud disappear. "I had a great dinner. I waited around for you because I wanted to thank you. I don't need any more money. I just really appreciate your kindness. It helps. I was a medic in 'Nam."

We visited for a few moments. I began to feel badly about the fence. I was safe. There was not danger. I thought about the many kinds of fences we put up in our lives, and about how much we shut out. My fear was gone. We laughed and joked a bit. I told him I had to get on my way, as I had a long drive home. "You be good, Eddie," I said. "God loves you a lot." "God loves you, too." I got in my car and looked back at the place where he had been, but there was only a pool of light from the streetlamp."

- Alex Noble passed away in December 2018. Her website is gone.
Her real first name was Alexandria, hence Alex.

The Poet: Barbara Crooker, "In the Middle..."

"In the Middle..."

"In the middle
of a life that's as complicated as everyone else's,
struggling for balance, juggling time.
The mantle clock that was my grandfather's
has stopped at 9:20; we haven't had time
to get it repaired. The brass pendulum is still,
the chimes don't ring. One day you look out the window,
green summer, the next, and the leaves have already fallen,
and a grey sky lowers the horizon. Our children almost grown,
our parents gone, it happened so fast. Each day, we must learn
again how to love, between morning's quick coffee
and evening's slow return. Steam from a pot of soup rises,
mixing with the yeasty smell of baking bread. Our bodies
twine, and the big black dog pushes his great head between;
his tail is a metronome, 3/4 time. We'll never get there,
Time is always ahead of us, running down the beach, urging
us on faster, faster, but sometimes we take off our watches,
sometimes we lie in the hammock, caught between the mesh
of rope and the net of stars, suspended, tangled up
in love, running out of time."

~ Barbara Crooker

The Daily "Near You?"

Rock Port, Missouri, USA. Thanks for stopping by!

"Where the Old Winds Wander Slow"

Full screen recommended.
"Where the Old Winds Wander Slow"
"Welcome to Gengu AI – your ultimate destination for AI-generated music and next-generation sound experiences. This channel is dedicated to creating unique, high-quality tracks powered by artificial intelligence, blending creativity and technology to deliver music that feels fresh, emotional, and immersive. At Gengu AI, you will find a wide variety of genres including lofi hip hop, chill beats, ambient music, cinematic soundtracks, electronic music, relaxing music, study music, sleep music, and background music for videos. Every track is carefully crafted using advanced AI tools to bring you smooth melodies, deep atmospheres, and inspiring vibes. AI was the tool. The story came from human feeling. If this film gave you a quiet breath, a memory, or a moment of peace, thank you for being here."

Native Elder, "The Truth About Narcissist People"

Full screen recommended.
Native Elder,
"The Truth About Narcissist People"

"Some People Age… Some People Grow"

Full screen recommended.
Delta Blue's Kings,
"Some People Age… Some People Grow"
"Getting older is automatic. Growing wiser isn’t. “Some People Age… Some People Grow” is a Delta blues reflection on maturity, bitterness, gratitude, and the quiet truth that time changes everyone - but not everyone learns from it."

"The Level Of Intelligence..."

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

"How It Really Is"

Very strong language alert!
George Carlin, "The American Dream"

"The Truth..."

“Freedom is not defined by safety. Freedom is defined by the ability of citizens to live without government interference. Government cannot create a world without risks, nor would we really wish to live in such a fictional place. Only a totalitarian society would even claim absolute safety as a worthy ideal, because it would require total state control over its citizens’ lives. Liberty has meaning only if we still believe in it when terrible things happen and a false government security blanket beckons.”
- Ron Paul

"How the Great Depression Forged the Modern World" (Excerpt)

"How the Great Depression Forged the Modern World - and Why It's 
Darkest Echoes Still Reverberate Through the Twenty-First Century"
by Milan Adams

Excerpt: "History has seldom unfolded with the theatrical violence that popular imagination so readily associates with catastrophe. Civilizations have more often succumbed not beneath the thunder of artillery or the conflagration of invading armies, but beneath the silent corrosion of confidence. Markets collapse without the sound of explosions. Banks perish without smoke rising from their vaults. Entire nations may descend into deprivation while every building remains standing, every boulevard retains its familiar outline, and every cathedral continues to cast its shadow upon the same stones it has overlooked for centuries. Such was the singular horror of the Great Depression, a calamity whose most devastating weapon was neither steel nor fire, but the gradual evaporation of belief itself. It extinguished faith in prosperity, in financial permanence, in governments, and even in the seemingly immutable assumptions upon which industrial civilization had erected its magnificent façade. Long after stock exchanges recovered and factories resumed production, that invisible wound remained embedded within the institutional memory of nations, shaping economic doctrine, political authority, and public psychology in ways that continue to define contemporary society.

The widespread tendency to identify the Great Depression solely with the collapse of the New York Stock Exchange during October 1929 obscures the far more intricate anatomy of the disaster. The infamous days remembered as Black Thursday, Black Monday, and Black Tuesday were not the genesis of the catastrophe but rather the first unmistakable manifestation of an affliction that had been incubating beneath the dazzling prosperity of the Roaring Twenties. Financial exuberance had become detached from productive reality. Credit expanded with astonishing rapidity, speculation eclipsed prudence, and the conviction that prosperity possessed no discernible terminus evolved into an almost theological certainty. Wealth appeared capable of reproducing itself independently of labour, industry, or tangible production. This illusion transformed stock certificates into objects of near-mystical reverence, while ordinary citizens increasingly regarded financial markets not as instruments of investment but as inexhaustible fountains of effortless affluence.

Such optimism concealed profound structural frailties. Industrial productivity accelerated at a pace unmatched by wage growth, generating an imbalance between production and genuine purchasing power. Factories manufactured unprecedented quantities of automobiles, household appliances, textiles, and agricultural machinery, yet a considerable proportion of consumers lacked the sustained income necessary to absorb this expanding abundance. Warehouses quietly accumulated inventories while balance sheets continued to proclaim prosperity. Beneath the surface of apparent economic triumph, an increasingly fragile architecture emerged, supported less by authentic demand than by borrowed capital and speculative expectation. The resulting prosperity resembled an immense cathedral erected upon unstable marshland—majestic in appearance, yet destined to founder beneath its own extraordinary weight.

Perhaps the most insidious characteristic of speculative euphoria lies in its capacity to transform caution into apparent irrationality. Individuals who expressed reservations were frequently dismissed as pessimists incapable of appreciating a new economic era supposedly liberated from the cyclical limitations that had governed previous generations. Newspapers celebrated unprecedented fortunes with almost liturgical enthusiasm. Brokers became symbols of modern sophistication. Banks extended generous loans secured not by substantial collateral but by confidence in perpetually rising asset prices. Margin buying enabled investors to purchase stocks with only a fraction of their own capital, borrowing the remainder under the assumption that tomorrow’s appreciation would effortlessly repay today’s obligations. As long as prices continued ascending, the mechanism appeared almost miraculous. Yet every ascent predicated exclusively upon expectation inevitably reaches an altitude at which confidence itself becomes insufficient to sustain further elevation.

This phenomenon represented more than a financial distortion; it constituted a profound psychological metamorphosis. Economic systems have always depended upon measurable variables—production, consumption, employment, and capital allocation—but they are sustained equally by intangible sentiments. Confidence cannot be quantified with the precision of interest rates, yet its disappearance possesses the destructive capacity of a natural cataclysm. When trust evaporates simultaneously across millions of individuals, commerce ceases not because physical resources have vanished but because belief in future stability dissolves. The Great Depression demonstrated with terrifying clarity that modern economies are constructed as much upon collective expectation as upon factories, railways, or mineral reserves.

The collapse itself unfolded with extraordinary velocity. During the closing weeks of October 1929, selling pressure intensified beyond anything previously witnessed in financial history. Prices descended not gradually but precipitously, annihilating fortunes accumulated across decades within mere hours. Panic became self-reinforcing. Investors liquidated assets not because careful analysis required such action, but because everyone else appeared to be fleeing. This recursive dynamic transformed ordinary market corrections into an avalanche whose momentum exceeded the capacity of any institution to arrest it. Brokerage houses struggled to process orders as telegraph lines became overwhelmed. Crowds gathered outside financial institutions, newspapers issued successive editions throughout the day, and rumours propagated with astonishing speed through cities already gripped by uncertainty. Although later generations often romanticized these scenes through monochromatic photographs, contemporaries experienced them as manifestations of almost incomprehensible disintegration.

The stock market crash, however, represented merely the prologue. The destruction of paper wealth rapidly infiltrated the broader financial system. Banks that had invested heavily in equities or extended imprudent loans discovered that their balance sheets had become catastrophically impaired. Depositors, observing alarming headlines, sought to withdraw savings simultaneously. Modern banking operates upon fractional reserves, a principle permitting institutions to lend substantial portions of deposited funds while retaining only a limited reserve of immediately accessible currency. Under ordinary conditions, this architecture functions efficiently because only a small percentage of customers require withdrawals at any given moment. During widespread panic, however, the mechanism reveals its extraordinary vulnerability. No institution, regardless of reputation, can satisfy every depositor simultaneously when confidence disintegrates.

Bank runs soon evolved into one of the defining spectacles of the Depression. Endless queues materialized before dawn outside imposing financial edifices whose marble façades projected permanence but concealed acute insolvency. Elderly couples clutched passbooks containing the savings of entire lifetimes. Shopkeepers abandoned their businesses in desperate attempts to recover working capital. Labourers who had painstakingly accumulated modest deposits through years of arduous employment discovered that numerical entries recorded within ledgers possessed little meaning once institutions suspended operations. When bank doors failed to reopen, wealth did not merely diminish—it ceased to exist. The psychological devastation inflicted by such losses exceeded their monetary value, for they shattered one of the foundational assumptions of modern civilization: that disciplined thrift would invariably secure tomorrow." 
Full, most highly recommended article is here:

"Judge Napolitano - Judging Freedom, 7/5/26"

"INTEL Roundtable: Suicide Pact: 
When Presidents Seized Total Power"
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"INTEL Roundtable: 
The Lebanon Situation Gets Darker"
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"INTEL Roundtable: Russia Facing Existential Threat: 
Medvedev Warns of 'Wipe Off the Map' Plot"
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Saturday, July 4, 2026

Musical Interlude: Deuter, "Endless Horizon"

Deuter, "Endless Horizon"
About Deutur:

"A Look to the Heavens With Chet Raymo"

“Like Rubies Ringed With Gold”
by Chet Raymo

“Here’s a Hubble Space Telescope composite photograph of two colliding galaxies in the constellation Corvus.
Each of the three books of Dante’s “Divine Comedy” ends with the same words: “the stars.” The Inferno concludes with distant stars glimpsed through the narrow exit of hell. “We emerged,” says the poet, “and saw the stars.” The poet’s journey through Purgatory ends on Earth’s highest mountain, with the heavens seemingly not so far away. He is “ready to ascend to the stars.” Finally, Dante looks down upon the stars from above, from the luminous realm of Paradise. He has experienced “the Love that moves the sun and the other stars.” The beauty of that final destination, the Empyrean Sphere that encloses the created universe in divine brilliance, taxes the poet’s powers of description:

“I saw light in the shape of a river
Flashing golden between two banks
Tinted in colors of marvelous spring.
Out of the stream came living sparks
Which settled on the flowers on every side
Like rubies ringed with gold…”

Nothing in Dante’s experience could have prepared him for the splendors of the heavens as revealed by the Hubble. The photograph of colliding galaxies in Corvus is a work of genius in the tradition of the “Divine Comedy” – imagination in service to humankind’s loftiest aspirations and longings.

In Dante’s time, astronomy was one of the seven liberal arts – with grammar, rhetoric, logic, arithmetic, geometry, and music – required of every student who aspired to a university degree. Of all the secular sciences, astronomy was deemed most likely to lead one to the contemplation of things divine. Yesterday’s Hubble pic made the hair stand up on the back of my neck, which is about as close to the divine as I ever get. Dante’s “Divine Comedy” is based on the medieval astronomical conception of the world – a system of concentric spheres centered on the Earth and bounded just up there by the Empyrean.

In the Hubble photograph of colliding galaxies we see something akin to Dante’s paradisal vision, but it is not a cosmos centered on the Earth. Here are other Suns and other Earths being born, in prodigious numbers, massive stars destined to die soon as supernovas, and other less massive stars that will live long lives, perhaps evolving life or consciousness on their planets. We see in the Hubble photograph a universe of a fullness and dimension that makes Dante’s human-centered cosmos of concentric spheres seem like a dust mote in an immense cathedral.

Astronomy is no longer a required course of study in our universities, and it’s something of a shame. Who can look at the photograph of colliding galaxies and not be moved to rapture? An understanding of the size, age, and prodigality of the universe should be part of every liberal arts graduate’s intellectual furniture.”
o
Freely download "The Divine Comedy", by Dante Alighieri, here:

The Poet: Fernando Pessoa, “I Don’t Know If The Stars Rule The World”

“I Don’t Know If The Stars Rule The World”

“I don’t know if the stars rule the world,
Or if Tarot or playing cards
Can reveal anything.
I don’t know if the rolling of dice
Can lead to any conclusion.
But I also don’t know
If anything is attained
By living the way most people do.

Yes, I don’t know
If I should believe in this daily rising sun
Whose authenticity no one can guarantee me,
Or if it would be better (because better or more convenient)
To believe in some other sun,
One that shines even at night,
Some profound incandescence of things,
Surpassing my understanding.

For now...
(Let’s take it slow)
For now
I have an absolutely secure grip on the stair-rail,
I secure it with my hand –
This rail that doesn’t belong to me
And that I lean on as I ascend...
Yes... I ascend...
I ascend to this:
I don’t know if the stars rule the world.”

- Fernando Pessoa

"People Are Losing Their Minds In Public - And It's Insane"

Full screen recommended.
"People Are Losing Their Minds In Public - And It's Insane"
"Public breakdowns are happening more often, and this video shows what that looks like in the ordinary places we all share. You will see confrontations in parking lots, stores, airports, and neighborhoods, alongside the numbers behind the trend. The government's health agency counted more than sixty-one million American adults living with mental illness in a single year, and most were never treated. Watch how small the trigger has become and why these moments keep surfacing in public. What this video covers: 
• Public confrontations over parking spaces, driveways, and everyday disputes. 
• A locksmith staying calm while a stranger escalates at an airport.
• A store standoff over an item and a refused sale. 
• Neighborhood arguments filmed and narrated in real time. 
• The data on adults reporting a recent mental health crisis. 
• How platforms profit from moments of public distress. 

If this video gave you something to think about, subscribe to see more compilations that look at what is happening in shared public spaces. Leave a comment with your own take on why these moments are becoming so common, and share the video with someone who would find the discussion worthwhile.
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Dan, I Allegedly, "America Was Cheaper... Or Was It?"

Full screen recommended.
Dan, I Allegedly,  7/4/26
"America Was Cheaper... Or Was It?"
"Today America celebrates its 250th birthday, but one question stands out above all the others: was life actually more affordable in 1776? In this video, I compare what it cost to buy land, build a home, own transportation, feed a family, and achieve the American Dream from the founding of the United States to today. Some prices seem unbelievably cheap, but when you compare them to wages, debt, and the cost of living, the story becomes much more complicated. We'll also discuss how wealth has changed over the last 250 years, why so many Americans feel financially stretched despite incredible technological progress, and what today's economy says about the future of the middle class. If you enjoy business news, personal finance, economic history, real estate, investing, and practical money discussions, this video is packed with surprising facts and perspective that every American should see. Happy 250th Birthday, America!"
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"Decline of Empire: Parallels Between the U.S. and Rome, Part I"

"Decline of Empire:
 Parallels Between the U.S. and Rome, Part I"
By Doug Casey

"As some of you know, I’m an aficionado of ancient history. I thought it might be worthwhile to discuss what happened to Rome and based on that, what’s likely to happen to the U.S. Spoiler alert: There are some similarities between the U.S. and Rome. But before continuing, please seat yourself comfortably. This article will necessarily cover exactly those things you’re never supposed to talk about - religion and politics - and do what you’re never supposed to do, namely, bad-mouth the military.

There are good reasons for looking to Rome rather than any other civilization when trying to see where the U.S. is headed. Everyone knows Rome declined, but few people understand why. And, I think, even fewer realize that the U.S. is now well along the same path for pretty much the same reasons, which I’ll explore shortly.

Rome reached its peak of military power around the year 107, when Trajan completed the conquest of Dacia (the territory of modern Romania). With Dacia, the empire peaked in size, but I’d argue it was already past its peak by almost every other measure.

The U.S. reached its peak relative to the world, and in some ways its absolute peak, as early as the 1950s. In 1950 this country produced 50% of the world’s GNP and 80% of its vehicles. Now it’s about 21% of world GNP and 5% of its vehicles. It owned two-thirds of the world’s gold reserves; now it holds one-fourth. It was, by a huge margin, the world’s biggest creditor, whereas now it’s the biggest debtor by a huge margin. The income of the average American was by far the highest in the world; today it ranks about eighth, and it’s slipping.

But it’s not just the U.S. - it’s Western civilization that’s in decline. In 1910 Europe controlled almost the whole world - politically, financially, and militarily. Now it’s becoming a Disneyland with real buildings and a petting zoo for the Chinese. It’s even further down the slippery slope than the U.S.

Like America, Rome was founded by refugees - from Troy, at least in myth. Like America, it was ruled by kings in its early history. Later, Romans became self-governing, with several Assemblies and a Senate. Later still, power devolved to the executive, which was likely not an accident.

U.S. founders modeled the country on Rome, all the way down to the architecture of government buildings, the use of the eagle as the national bird, the use of Latin mottos, and the unfortunate use of the fasces - the axe surrounded by rods - as a symbol of state power. Publius, the pseudonymous author of "The Federalist Papers," took his name from one of Rome’s first consuls. As it was in Rome, military prowess is at the center of the national identity of the U.S. When you adopt a model in earnest, you grow to resemble it.

A considerable cottage industry has developed comparing ancient and modern times since Edward Gibbon published "The Decline and Fall of the Roman Empire" in 1776 - the same year as Adam Smith’s Wealth of Nations and the U.S. Declaration of Independence were written. I’m a big fan of all three, but D&F is not only a great history, it’s very elegant and readable literature. And it’s actually a laugh riot; Gibbon had a subtle wit.

There have been huge advances in our understanding of Rome since Gibbon’s time, driven by archeological discoveries. There were many things he just didn’t know, because he was as much a philologist as an historian, and he based his writing on what the ancients said about themselves.

There was no real science of archeology when Gibbon wrote; little had been done even to correlate the surviving ancient texts with what was on the surviving monuments - even the well-known monuments - and on the coins. Not to mention scientists digging around in the provinces for what was left of Roman villas, battle sites, and that sort of thing. So Gibbon, like most historians, was to a degree a collector of hearsay.

And how could he know whom to believe among the ancient sources? It’s as though William F. Buckley, Gore Vidal, H. L. Mencken, Norman Mailer, and George Carlin all wrote about the same event, and you were left to figure out whose story was true. That would make it tough to tell what really happened just a few years ago… forget about ancient history. That’s why the study of history is so tendentious; so much of it is “he said/she said.” In any event, perhaps you don’t want a lecture on ancient history. You’d probably be more entertained by some guesses about what’s likely to happen to the U.S. I’ve got some.

Let me start by saying that I’m not sure the collapse of Rome wasn’t a good thing. There were many positive aspects to Rome - as there are to most civilizations. But there was much else to Rome of which I disapprove, such as its anti-commercialism, its militarism and, post-Caesar, its centralized and increasingly totalitarian government. In that light, it’s worth considering whether the collapse of the U.S. might not be a good thing.

So why did Rome fall? In 1985, a German named Demandt assembled 210 reasons. I find some of them silly - like racial degeneration, homosexuality, and excessive freedom. Most are redundant. Some are just common sense - like bankruptcy, loss of moral fiber, and corruption.

Gibbon’s list is much shorter. Although it’s pretty hard to summarize his six fat volumes in a single sentence, he attributed the fall of Rome to just two causes, one internal and one external: Christianity and barbarian invasions, respectively. I think Gibbon was essentially right about both. Because of the sensibilities of his era, however, he probed at early Christianity (i.e., from its founding to the mid-4th century) very gently; I’ve decided to deal with it less delicately. Hopefully neither my analysis of religion nor of barbarian invasions (then and now) will disturb too many readers.

In any event, while accepting Gibbon’s basic ideas on Christians and barbarians, I decided to break down the reasons for Rome’s decline further, into 10 categories: political, legal, social, demographic, ecological, military, psychological, intellectual, religious, and economic—all of which I’ll touch on. And, as a bonus, toward the end of this article, I’ll give you another, completely unrelated, and extremely important reason for the collapse of both Rome and the U.S.

You don’t have to agree with my interpretation, but let’s see what lessons are on offer from the history of Rome, from its semi-mythical founding by Romulus and Remus in 753 BCE (a story that conflicts with Virgil’s tale of Aeneas and the refugee Trojans) to what’s conventionally designated as the end of the Western empire in 476 AD, when the child-emperor Romulus Augustulus was deposed by Odoacer (a Germanic general who was in charge of what passed for the Roman army—which by then was staffed almost entirely with Germanic mercenaries who had no loyalty to the idea of Rome). It looks a lot like the American experience over the last couple of hundred years. First conquest and expansion, then global dominance, and then slippage into decline.

Political:  It’s somewhat misleading, however, to talk about a simple fall of Rome, and much more accurate to talk about its gradual transformation, with episodes of what paleontologists describe as “punctuated disequilibrium.” There were many falls.

Republican Rome fell in 31 BCE with the accession of Augustus and the start of what’s called the Principate. It almost disintegrated in the 50 years of the mid-3rd century, a time of constant civil war, the start of serious barbarian incursions, and the destruction of Rome’s silver currency, the denarius.

Rome as anything resembling a free society fell in the 290s and then changed radically again, with Diocletian and the Dominate period (more on this shortly). Maybe the end came in 378, when the Goths destroyed a Roman army at Adrianople and wholesale invasions began. Maybe we should call 410 the end, when Alaric - a Goth who was actually a Roman general -conducted the first sacking of Rome.

It might be said the civilization didn’t really collapse until the late 600s, when Islam conquered the Middle East and North Africa and cut off Mediterranean commerce. Maybe we should use 1453, when Constantinople and the Eastern Empire fell. Maybe the Empire is still alive today in the form of the Catholic Church—the Pope is the Pontifex Maximus wearing red slippers, as did Julius Caesar when he held that position.

One certain reflection in the distant mirror is that beginning with the Principate period, Rome underwent an accelerating trend toward absolutism, centralization, totalitarianism, and bureaucracy. I think we can argue America entered its Principate with the accession of Roosevelt in 1933; since then, the president has reigned supreme over the Congress, as Augustus did over the Senate. Pretenses fell off increasingly over time in Rome, just as they have in the U.S.

After the third century, with constant civil war and the destruction of the currency, the Principate (when the emperor, at least in theory, was just the first among equals) gave way to the Dominate period (from the word “dominus,” or lord, referring to a master of slaves), when the emperor became an absolute monarch. This happened with the ascension of Diocletian in 284 and then, after another civil war, Constantine in 306. From that point forward, the emperor no longer even pretended to be the first among equals and was treated as an oriental potentate. The same trend is in motion in the U.S, but we’re still a ways from reaching its endpoint - although it has to be noted that the president is now protected by hundreds, even thousands, of bodyguards. Harry Truman was the last president who actually dared to go out and informally stroll about DC, like a common citizen, while in office.

In any event, just as the Senate, the consuls, and the tribunes with their vetoes became impotent anachronisms, so have U.S. institutions. Early on, starting with the fourth emperor, Claudius, in 41 AD, the Praetorians (who had been set up by Augustus) showed they could designate the emperor. And today in the U.S., that’s probably true of its praetorians - the NSA, CIA, and FBI, among others - and of course the military. We’ll see how the next hanging-chad presidential election dispute gets settled.

My guess is that the booboisie (the Romans called them the capite censi, or head count) will demand a strong leader as the Greater Depression evolves, the dollar is destroyed, and a serious war gets underway. You have to remember that war has always been the health of the state. The Roman emperors were expected, not least by their soldiers, to always be engaged in war. And it’s no accident that the so-called greatest U.S. presidents were war presidents -Lincoln, Wilson, and FDR. We can humorously add the self-proclaimed war president Baby Bush. Military heroes - like Washington, Andrew Jackson, Ulysses Grant, Teddy Roosevelt, and Eisenhower - are always easy to elect. 

It’s wise to keep Gibbon’s words about the military in mind: “Any order of men accustomed to violence and slavery make for very poor guardians of a civil constitution.”

One additional political parallel with the U.S.: up to Trajan in 100 AD, all the emperors were culturally Roman from old, noble families. After that, few were. The U.S. now has already had its first Kenyan president -  just kidding, of course."