Saturday, March 27, 2021

"Nonconformity and the Normalcy Bias"

"Nonconformity and the Normalcy Bias"
By Julian Wash

"Today I would like to return to your awareness an aspect of the Human condition that surrenders to a curious state called “normal.” Normal is a cultivated space, fashioned from how we see ourselves and how we’d like others to see us. It’s a weighted measure, balancing self-appraisal against the opinions and judgment of others. It is a dynamic state, subject to change depending on which way society pulls the levers on public opinion and the laws that govern social order. But most of all, normal is an assumed state of cooperation and expectation.

A scant eighty years ago, in the so-called “Bible belt” region of the Deep South, it was considered “normal” to require African Americans to sit in the back of a bus. One can therefore surmise that it must have taken an “abnormal” few to observe and recognize this as wrong. Those that voiced opposition were labeled sympathizers, resistors, agitators and radicals. And those were the nicer words. Of course now it is normal to honor these nonconformists for their courageous efforts in spear-heading the civil rights movement. So you see, “normal” is anything but what it claims to be.

In the following paragraphs we will reexamine the state of normal to see what purpose it serves, if any at all. What is normal now was not necessarily normal yesterday. And what is normal for you may not be normal for me. At any rate, normal is one of the dumbest terms to ever curse the planet. Normally I would not write on such a topic, but I thought I’d make this special exception. After all, it is normal for me to do the unexpected.

Normal This: That’s what I think of normal. The term is a tool. Those who acquiesce to its narrow and ephemeral parameters might also be considered “tools.” Does one seek normalcy because they desire this brand of conformity? If so, then what is their more noble purpose? Is it to go on mirroring and repeating everything they have been told? This regurgitation is what some might call normal - but I call it being complacent and undiscovered. Surely all people have a novel vibration that they wish to share or at least discover within themselves. So why do they insist on merely towing the line and wearing blinders? One could persuasively argue they have little choice. The normal need to earn a living and bucking the system is not the way to do it. So they play along to get along - and many will surrender their hearts ambition for the lure of a paycheck.

Were you ever given the choice to see the world as you like? Probably not. The world as we know it was engineered into our awareness from the moment we uttered our first words. Sad to think perhaps some will never know the feeling of abnormal. A good conformist would never entertain such dirty thoughts anyway. But on the contrary, to label someone as “normal” strikes me as offensive indeed. Normal tells me that one doesn’t really understand their unique place in this world. There is nothing normal about normal. Normal is a conformity stress that can skew and shape the best of us into docile, compliant and mindless little servants. It’s a dead end. There is no need to explore further once normalcy has been achieved.

Yes, we’re all encouraged to operate within templates of normalcy. We go to school, get married, buy a house and hope for normal kids. We work our normal jobs and attend church and maybe, if we’re lucky, we’ll have the time and means to take up something truly meaningful and normal - like golf. And just as we begin to get the ever-so slightest inkling of this elusive and artificial state called normal, it’s time for us to retire or to check out of this world all together. You see, on the eighteenth hole we may indeed start asking ourselves what sinking that put was really all about. And though one may take delight in saying they played under par, I can’t help but wonder if the ball somehow played the player and not the other way around. But I’ve digressed.

That which we regard as normal is anything but. The “normal” I see takes the form of an elaborate maze cut though a corn field. We’re not allowed to peak over the stalks because then we might realize it’s all just a game. That would ruin it for you and everyone else. And we’re not allowed to shuck an ear because we might realize the corn is too perfect to be in a natural or organic state. There is something profoundly disturbing about that which is too perfect in this land of normal.

Lies Taste Good: The term “normal” follows us everywhere we go. Our doctor might say our lab test results were normal. They might also say our blood pressure is normal. Well those are the words we want to hear. Normal is good. Abnormal is bad, very bad. I was once told I had abnormally high cholesterol levels and that it was likely a “genetic” anomaly. Surely I was a walking heart attack and I was only in my early twenties. Blood thinners were recommended as were statin drugs. A genetic anomaly indeed and so I thought to do some research.

Turns out I had elderly relatives with the same condition. They took nothing for it and yet they were otherwise healthy and in their eighties. And so I chose to take nothing for my condition. My basis for normal was therefore quite different than the medical assessment. I questioned the well-meaning entity with the white coat and germ laden stethoscope. That was not the normal thing for me to do. I did not take his advice. All these years later, I’m so happy I didn’t. The very latest research now shows higher cholesterol might actually be a good indicator, whereas very low cholesterol could be a serious cause for concern. I take zero medications. Is that normal?

The normal person’s modus of operandi is to never challenge the status-quo. Eat lies like they were made of candy. Believe what we are told about JFK, 9/11, GMO’s, flu vaccinations, fluoridated water and a whole host of other yummy little fictions. Do not ask about “false flag” invasions, chemtrails, printed paper currency, or whether the “Federal” Reserve is indeed federal. Ask not these questions. Remain in this insulated cocoon called normalcy and it will protect you. Step outside of normalcy and expect to be mowed down by flag waving, Bible thumping, hypnotized, zombified lynch mobs that would swear to you that they are the normal ones. Yes, they will call you a kook - or worse. After all, that’s what they called Rosa Parks, Dr. King and so many other prominent and benevolent people of great courage and strength. If this is what being a “kook” is all about then count me in. It’s the sort of company I’d like to keep anyway.

Then there’s the normal behavior thing. A schoolteacher might tell the parents of little Johnny or Amy that their child is behaving normally in class and has a healthy and normal attitude. You should be proud. Your child is normal. What! Why would I find this so disturbing? Did the school suck away the defining aspect that made this child unique as an individual? Perhaps I would ask the teacher if they would mind defining what is meant by normal. Then I would ask if Albert Einstein was normal, if perhaps Nikola Tesla was normal, if Mother Teresa was normal, if Mahatma Gandhi was normal, if Leonardo da Vinci was normal… and anyway I think I’ve made my point. So why would I want little Johnny or Amy to be your little normal? No thank you. Class dismissed!

I understand that some may think I’m taking this whole “normal” thing out of context. I assure you I am not. Unlike the more inert and discretionary term of “typical,” normal belies an acceptable assumption of truth or fact. When the Fukushima Daiichi nuclear power plant radiation levels were spiking during the early months of the tsunami disaster, governmental agencies were compelled to redefine what “normal” meant in terms of radiation exposure. Their solution was to simply raise the old level to a much higher one and called it safe. So now people in the Fukushima Prefecture could breathe a deep sigh of relief and relax after being told that radiation levels had been restored to normal. The “typical” readings were way off from where they had been, of course - but “normal” had been redefined to satisfy immediate concerns. Can you see why I don’t care much for that word?

Where Do We Go From Here? There’s a road less traveled that beckons those who seek higher truth. It can be a lonely road indeed. The nonconformist takes the long way home and questions all things along the path. In doing so, they may often feel lost and vulnerable at times. But as their journey continues, they begin to acquire great wisdom. They will question all things synthetic in nature. They will question government and how it controls the masses. They will question organized religion and how it culls the population. They will question education and how is syncopates the minds of children. They will question mass media and its dubious exploitations. So where does the road go from here? Simple. One must remain in a state of knowing. One must continue to question and yet still manage to live their lives with a smile on their face and with love in their heart.

One must allow “normal” people to see you in a proper light. One should be polite and courteous and lend a helping hand. If we are angry and overly-aggressive in our views, we’ll be relegated to that “kook” category of nonconformity. But for those who are highly principled and self-aware, they can usually articulate their views in an open and benevolent manner. Such people live by example. I’m a big fan of civility and the Gandhi-esque manner of peaceful noncompliance, love and tolerance. The most beautiful form of rebellion is to simply fold ones arms and say no. If people of all nations could muster their power and resolve to do this, there would never be another bullet fired upon another. Such a deplorable act would be considered grotesquely insane and absolutely inhuman. So there’s a glimpse of a “real” normal world as I see it. Seems we’ve got a ways to go to get there.

And so to the powers that (think you are) I want to say I am not your “normal” product; I do not believe in your NDAA. I do not believe in your Patriot Act. I do not believe in your torture and preemptive wars. I do not accept this as normal by any definition of the term. And so I say no! And I say it with authority and I say it with conviction. I am one person, but I’m awake and aware and that makes me powerful indeed. I am free to speak my mind and state my cause. I am not your minion. I possess free will and a free mind. I am not ensnared by your tainted vision of a new world order. And as testimony of the Divine, others are now waking from their slumber and are asking questions of a probing nature. I’ve come to this world to know peace - and so I do not accept the guns you hide behind your velvet curtains of deception.

Final Thought: I’m unable to digest this non-organic meatball called normal, so don’t wave it in front of me. What in the heck is rolled up in it anyway? One should think twice before putting that in their body. It pretends to be something it’s not. So what’s it all about? I sense that people have a hunch that they’ve been repeatedly lied to for a very long time. But try as they might, most just can’t quite get a grip on it. Meanwhile, the PTB keep throwing everything they’ve got at us with the hope of keeping us in some kind of a normalizing, mind swept stupor. But why?

There are many who are feeling fearful or panicky for no obvious reason. Chronic fear turns into anxiety. Anxiety may turn into depression. Depression often turns into a doctor’s visit. The doctor’s visit turns into a prescription for an antidepressant. The antidepressant appears to help but soon more is needed. The doctor prescribes a second antidepressant to be taken along with the other. Soon additional meds are sought and delivered. They are “needed” so that one can deal with their depression along with a whole host of other medical issues that seem to be cropping up. Soon one can find themselves quite dependent on that normal person in the white coat who knows better than we do.

But here is what I have found to be true. It is not entirely correct to call it “their” depression. It is “our” depression. If our brothers and sisters are feeling depressed for no apparent reason, then I might suggest we reexamine what is called normal. Society is a seriously flawed, screwed-up, sad state of affairs that tries to pass itself off as normal. We consistently attempt to attune ourselves with this “normalized” societal standard because we’ve been trained to do so. But this creates an asymmetrical tension that can spawn a boat-load of psychological incongruities within - a sort of internal tug-of-war between what we know to be right and what society dictates as normal. So how does one manage this? Well, we can try taking the long way home.”
"The long way home" you say? Ok!
Supertramp, "The Long Way Home"

"One Needs To Learn The Difference..."

"One of life's best coping mechanisms is to know the difference between an inconvenience and a problem. If you break your neck, if you have nothing to eat, if your house is on fire – then you’ve got a problem. Everything else is an inconvenience. Life is inconvenient. Life is lumpy. A lump in the oatmeal, a lump in the throat and a lump in the breast are not the same kind of lump. One needs to learn the difference."
- Robert Fulghum

"Reality Avoidance"

"Reality Avoidance"
by Morris Berman

"It’s quite amazing how the news is endlessly about race or gender. Filler, is what I call it. Very little of this has anything to do with reality, which the Mainstream Media and the American people avoid like the plague. What then is real?

1. The empire is in decline; every day, life here gets a little bit worse; all our institutions are corrupt to varying degrees; and there is no turning this situation around.

2. A crucial factor in this decline and irreversibility is the low level of intelligence of the American people. Americans are not only dumb; they are positively antagonistic toward the life of the mind.

3. Relations of power and money determine practically everything. The 3 wealthiest Americans own as much as the bottom 50% of the population, and this tendency will get worse over time.

4. The value system of the country, and its citizens, is fundamentally wrong-headed. It amounts to little more than hustling, selfishness, narcissism, and a blatant disregard for anyone but oneself. There is a kind of cruelty, or violence, deep in the American soul; many foreign observers and writers have commented on this. Americans are bitter, depressed, and angry, and the country offers very little by way of community or empathy.

5. Along with this is the support of meaningless wars and imperial adventures on the part of most of the population. That we drone-murder unarmed civilians on a weekly basis is barely on the radar screen of the American mind. In essence, the nation has evolved into a genocidal war machine run by a plutocracy and cheered on by mindless millions.

Most Americans hide from these depressing, even horrific, realities by what passes for ‘the news’, but also by means of alcohol, opioids, TV, cellphones, suicide, prescription drugs, workaholism, and spectator sports, to name but a few. This stuffing of the Void is probably our primary activity. In a word, we are eating ourselves alive, and only a tiny fraction of the population recognizes this."

"How It Really Is"

 

"Sleepy Joe's Next $3 Trillion Boondoggle"

"Sleepy Joe's Next $3 Trillion Boondoggle"
by David Stockman

"Leave it to the New York Times to remind us why prosperity is not right around the corner. That’s regardless of whether or not the $6 trillion of Everything Bailouts that were fed into the US economy over the past year causes the 2021 GDP stats to make up for the 2020 plunge brought on by the Virus Patrol. We are referring to the recent "leak" to the NYT presaging Sleepy Joe’s upcoming $3 trillion infrastructure plan and the following bolded sub-heading that heralded it: "A pair of proposals would invest in infrastructure, education, work force development and fighting climate change, with the aim of making the economy more productive." And just in case the reader didn’t connect the dots to the "more productive" bit, the NYT thoughtfully provided a picture to explain.


Of course, we say no thanks. Indeed, the NYT’s write-up of this latest Biden Boondoggle tells you all you need to know about why we do not have just a standard-size economic slump ahead but a veritable calamity.

The reason is as simple as it is ominous. We now have in the United States an all-of-government campaign to fix problems that

1. Are invented by political activists and that require a vast expansion of state power, like climate change;
2. Are real but have been caused by state action, such as the drastic increase in wealth and income inequality stemming from decades of Fed money-printing;
3. Are not real but are presumed to exist to justify interventionist policies that benefit their advocates, such as the endless flow of easy money and free stuff from government fiscal and monetary "stimulus" measures.

Thus, the lead paragraph of the NYT story captured all three of these baleful vectors in one breath: "President Biden’s economic advisers are pulling together a sweeping $3 trillion package to boost the economy, reduce carbon emissions and narrow economic inequality, beginning with a giant infrastructure plan that may be financed in part through tax increases on corporations and the rich."

The point here is not just that 30-years of hyper-stimulus have failed to boost the economy but instead have caused the trend growth rate to drastically atrophy, or climate change has been going on for 4.5 billion years, and warming epochs have generally been more beneficent than the ice ages, or upwards of 90% of the stock is owned by the top 10% of households - so that the Fed’s misbegotten asset inflation policies have inherently caused rising inequality.

In fact, you can dispatch the whole statist agenda item-by-item in this manner, but what lies beneath needs also be understood. Namely, Washington has become the most dangerous and destructive Imperial City in history because there no longer exists an opposition party dedicated to thwarting its endless aggrandizement both at home and abroad.

The powerful principles - free-market economics, personal liberty, minimal state intervention, sound money, fiscal rectitude and non-intervention in foreign affairs - that historically have kept big government at bay no longer have any effective voice in the nation’s capital.

Yet it is the lack of a true opposition party in the spirit of Grover Cleveland, Carter Glass, Howard Buffett, Robert Taft, Harry Byrd, Barry Goldwater, Gerald Ford and Ronald Reagan that permits today’s all-of-government projects and ministrations to mushroom, intensify, envelope and smother every semblance of outside-the-beltway resistance.

In effect, Washington has become leviathan unbound. There is hardly any political force left capable of giving effective resistance to the continuous flow of new fades and self-serving crises that are alleged to require ever more expensive, intrusive and plenary government action. These state-expanding projects are teed up by an immense beehive of lobbies, think tanks, law firms, NGOs, consultants and PACs.

Just consider three of the most egregious expressions of these unopposed pretexts for government aggrandizement in recent years - the RussiaGate Hoax, the Lockdown Folly and the endless regime of QE and ZIRP promulgated from the Eccles Building. What these have in common, besides resting on bogus predicates, is that they were only opposed by a corporal’s guard of Republicans centered on Senator Rand Paul, with boosts from Congressman Jim Jordan, Thomas Massie, and a few others.

That’s right. The lone political ranger in Washington who has articulately and forcefully confronted Fed Chairmen, Dr. Fauci and the Deep State peddlers of the RussiaGate Hoax specifically and the Forever Wars generally is Senator Rand Paul. Most of his so-called conservative GOP colleagues have either been AWOL completely on these deeply symptomatic matters or joined the fray after it was way too late or had become a matter of Trumpian loyalty-signaling.

Where were they last year at this time when the Donald disastrously anointed a 52-year Federal apparatchik, publicity-hound and scientific lightweight to be the Covid-czar? And then, they permitted him to host his own daily reality TV show which sparked the calamity of Lockdown Nation and impregnated the national psyche with unhinged hysteria about a respiratory virus that was not appreciably more virulent than many which had come before.

There were plenty of scientific voices at the time who said this was a giant folly, but even a brief acquaintance with the history of respiratory diseases and the principles of constitutional government was all that was required to deliver a loud, no!

Senator Rand Paul was one of the few who did from the very beginning, and now that the data is in and the visible pandemic is fast fading, he has been fully vindicated. Indeed, we have rarely seen anything which more powerfully discredits the Covid-as-Black Plague Myth and the resulting depredations of the Virus Patrol than the chart below.

Click image for larger size.

It shows the age-adjusted death rate from all causes for the 120 year span since 1900. As such, it takes all the noise and misdirection out of the daily Covid counts blared across the screen by the cable TV chyrons, and actually embeds the matter in real science.

That is to say, it’s age-adjusted so that the rapidly increasing population of the very elderly with inherently high mortality rates does not bias the picture. Nor do the squirrely death certificate coding conventions promulgated by the CDC last March distort the metric. That’s because it includes deaths from all causes - including the hundreds of thousands where the deceased succumbed to multitudinous causes and co-morbidities but also tested positive under the radically flawed PCR test for Covid.

Needless to say, when the age-adjusted mortality rate from all causes oscillated at about 7 per 1,000 population in recent years and then blipped up to about 8 per 1,000 in 2020 (green bar), you do not have a Black Plague or even a deathly pandemic. What you have is a bad flu season that unfortunately resulted in a modest excess death rate - and one overwhelmingly centered in the nursing homes and the very elderly population beset with weak immune systems. Also, you have an all-causes death rate that was actually no higher than what was taken as a standard outcome as recently as 2004–2006.

The point is, the chart above tells you that there should never have been a Covid hysteria or a lockdown, which caused previously unthinkable economic repercussions such as 70 million newly filed unemployment claims. That’s to say nothing of the crash of whole industries such as air travel and restaurants, the loss of lifetime investments by several millions of small businessmen and entrepreneurs, and the calamity of $6 trillion of Everything Bailouts that were recklessly stood up to compensate for the lockdown carnage.

A few decades from now, the blip represented by the green bar will hardly be visible with even a magnifying glass. That’s because several subsequent years will show a small dip in the annual mortality rates owing to the fact that the Grim Reaper came a few months early when medical treatments and therapeutic protocols failed to become available to the most vulnerable in the initial months of the pandemic.

More importantly, the reason for the sweeping folly of 2020 will become readily apparent. It wasn’t "the science." On the contrary, it was the result of an old-fashioned power grab by a camarilla of public health bureaucrats, their overlords in the pharma industry and the state and local officials who suddenly had a chance to wield dictatorial powers over the daily lives of their constituents. No rational government in a free society with a healthy opposition party would have wreaked the havoc brought upon America during the last year owing to the tiny blip reflected in the green bar below.

Senator Rand Paul and a few intrepid colleagues - plus an occasional on-point anchor on Fox News like Tucker Carlson - tried as they might, but they simply could not thwart the ceaseless aggrandizement of an Imperial City that has become the living embodiment of Leviathan.

The chart above puts us in mind of our own youth on a rural Michigan farm. At our one-room school, we all wanted to get measles, mumps and chickenpox so that we would have the natural immunities going forward; and when it came along, we wanted to get Dr. Salk’s vaccine because we didn’t wish to get polio. But either way, no one thought we were living in a world beset by deathly plagues and medical pestilence; this includes the virulent Asian flu that came along in 1957, which resulted in 116,000 deaths among a population half today’s size.

Still, the age-adjusted death rate from all causes in 1957 was about 14 per 1,000 or double the rate recorded for the Year-of-the-Covid in 2020. The fact that US economic and social life has been monkey-hammered by unhinged government interventions is evidence that there is not much left in Washington to thwart the on-going metastasis.

Sleepy Joe’s restoration projects mentioned above are not merely the ideological hobby horses of the so-called Progressive Left. They are the business of Washington writ large. Even the so-called conservatives fail to understand what Rand Paul has cogently explained to his colleagues to no avail.

The Dems are riding to increased political power on the back of the income/wealth inequality issue, which is being exacerbated by the Fed’s insane $120 billion monthly purchases of government, GSE debts and the resulting fuel it provides to even more asset price inflation. Not surprisingly, Sleepy Joe’s next $3 trillion plan proposes making permanent the free-stuff-for-nearly-all embodied in the stimmy checks and $3,600-per-child tax credits. As we have said repeatedly, those were just a backdoor route to a permanent form of UBI (universal basic income). UBI is a horrible notion being justified on the grounds of righting the drastic and artificial wealth maldistribution caused by the Fed.

That plan would also extend or make permanent two temporary provisions of Mr. Biden’s recent relief bill: expanded subsidies for low- and middle-income Americans to buy health insurance and tax credits aimed at cutting poverty, particularly for children.

The mainstream GOP has no plans to attack any of the state-aggrandizing predicates behind Sleepy Joe’s next multi-trillion boondoggle. When it comes to climate change, they will propose tax credits rather than point out that carbon dioxide isn’t a pollutant and that the slightly warming climate that has been unfolding since the end of the Little Ice Age after 1850 is likely to be beneficial, not the phony climate catastrophe narrative endemic in the Imperial City and in the mainstream narrative.

Moreover, as the damage to free-market prosperity from all of this statist intervention mounts, it will be claimed that more stimulus is needed to boost economic performance. That is to say, more growth-stunting government spending, borrowing and monetization are on the way to compensate for the immense damage already being done.

As we said, the next Sleepy Joe boondoggle will be a killer, yet Rand Paul and his corporal’s guard will be hard-pressed to rouse an opposition sufficient enough to stop it. Then again, miracles do happen, and at certain times in history, sweeping political realignments do occur. We can only hope that the 2020s will prove to be one of them."

"Let Them Eat Woke"

"Let Them Eat Woke"
by Simon Black

"On October 6, 1789, a group of French peasants surrounded the country estate of King Louis XVI of France and demanded that he and his family relocate to Paris. The people were sick and tired of the king living the luxurious palace lifestyle at their expense. And, fearing what might happen if he refused, Louis consented to their demand.

The French Revolution was already well underway at that point, sparked in large part by people’s disgust with their out-of-touch aristocracy. France had been rendered bankrupt by the late 1700s; decades of costly foreign wars, coupled with endless extravagances by the nobility, had completely depleted the treasury.

The government’s solutions alternated between pretending their financial problems didn’t exist, to raising taxes at every possible turn. The nobles hardly noticed. They lived lavishly while passing on the inflation and tax increases to the peasants. French aristocrats were either completely clueless, or didn’t care one bit, that their policies were ruining people’s lives. The Queen, Marie Antoinette, is rumored to have summed up this attitude when she said “Let them eat cake”, in response to hearing how countless peasants were starving. Most likely that story is just urban legend. However there is plenty of historical evidence that she cared far more about her hair and royal gardens than any plight of the French people. Her lavish spending was so famous, in fact, that the French used to refer to her as “Madam Déficit”.

And yet - the king, the queen, the nobles - they were the elites. They knew best, and they were in charge of making decisions for everyone else. You know the rest of the story: the royal couple eventually paid for their conceit with their heads. But that didn’t solve France’s problems.

Soon a wave of radicals took over and formed a new elite (which became known as the Reign of Terror). And just like the old elite, they knew best, and they were in charge of making decisions for everyone else. This new elite encouraged the population to rat each other out for petty crimes. They printed stupifying quantities of paper money and engineered hyperinflation across the country. France’s revolutionary history is an incredible example of what happens when a tiny, out of touch group of elites manages to seize power and set the priorities for an entire nation.

We’re experiencing a version of this today in the West. Prominent media personalities, politicians, tech companies, and self-absorbed social media celebrities, have appointed themselves our cultural nobility and seized the power to dictate just about everything, from how tax dollars are spent, to the words that we’re allowed to say, to how our children are to be educated. It’s astonishing how quickly it happened, and how much has changed.

For example, it wasn’t that long ago that the entire purpose of the US military was to fight and win wars… and to be the most lethal fighting force in the history of the world. But today our new elites have changed the priorities. So now instead of the latest weaponry and unit readiness, senior military leaders brag about maternity flight suits, or reducing physical fitness standards in order to be more inclusive. Twenty years ago the military was about shock and awe. Today the priority has become diversity and inclusion.

Here’s another example: once upon a time, politicians at least paid lip service to fiscal responsibility. In fact there were numerous government shutdowns and debt ceiling crises in the United States, i.e. political battles to prevent excessive spending, as recently as 2011, 2013, 2018, and 2019.

Today, the new elites have changed the priorities. They tell us that the debt doesn’t matter, and the government can spend as much as it wants. And with every new massive spending bill, they’re emboldened to spend even more money. It’s been two weeks since the $1.9 trillion ‘Covid’ bill was passed, and they’re already planning a $3 trillion ‘infrastructure’ bill. Basic fiscal responsibility is simply no longer a priority.

Then there’s education, which used to be about - you know - EDUCATION. But now that the new elites have taken control, teachers have kids praying to Aztec gods of human sacrifice in order to expunge their whiteness. Critical Race Theory abounds in schools to teach children they are either victims or oppressors. And the new elite tells us that grading students based on getting the right answer in math class is White supremacy.

Then there’s the media - a once-trusted source of news and information. Today, under the new elites, the priority is no longer truth. It’s about force-feeding the narrative they want you to believe, whether about Covid, race, politics, climate change, or anything else.

For example, when a deranged lunatic went on a rampage and killed 10 people last week in Atlanta, six of whom were Asian, the media immediately reported that the shooting was due to White supremacy. Yet the FBI said there was no evidence to suggest a racial motivation, and even the killer himself stated that he was motivated by his sex addiction. But the media kept pounding the White Supremacy story anyhow. Yahoo News immediately told its audience in a reprinted article entitled “Whiteness is a Pandemic” that "Whiteness is a public health crisis. It shortens life expectancies, it pollutes air, it constricts equilibrium, it devastates forests, it melts ice caps, it sparks (and funds) wars, it flattens dialects, it infests consciousnesses, and it kills people..."

Naturally this is considered to be perfectly acceptable content, and not racist in any way. In 18th century France, people were starving, but the elites who ruled them were so out of touch that the prevailing attitude was, let them eat cake! Today there’s a new elite that makes all the rules. They’ve completely corrupted western civilization. They are fanatics who embrace Marxism, violence, racism, and censorship. And like the French elites before them, they’re completely out of touch with how much they’re destroying the country and people’s lives. Let them eat woke!"
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Friday, March 26, 2021

Musical Interlude: Juzzie Smith, "Bluesberry Jam"

Juzzie Smith, "Bluesberry Jam"
The amazingly, ridiculously talented one-man-band! lol

"A Look to the Heavens"

"Colorful NGC 1579 resembles the better known Trifid Nebula, but lies much farther north in planet Earth's sky, in the heroic constellation Perseus. About 2,100 light-years away and 3 light-years across, NGC 1579 is, like the Trifid, a study in contrasting blue and red colors, with dark dust lanes prominent in the nebula's central regions.
In both, dust reflects starlight to produce beautiful blue reflection nebulae. But unlike the Trifid, in NGC 1579 the reddish glow is not emission from clouds of glowing hydrogen gas excited by ultraviolet light from a nearby hot star. Instead, the dust in NGC 1579 drastically diminishes, reddens, and scatters the light from an embedded, extremely young, massive star, itself a strong emitter of the characteristic red hydrogen alpha light."

"We Were There..."

"Someday stars will wind down or blow up. Someday death will cover us all like the water of a lake and perhaps nothing will ever come to the surface to show that we were ever there. But we WERE there, and during the time we lived, we were alive. That's the truth - what is, what was, what will be - not what could be, what should have been, what never can be."
- Orson Scott Card

"Now the voices and the sound of movement were gone, and the stream could be heard running quietly under its banks. The air was full of the scent of water and of flowers. She walked, quiet, while the house began to reverberate: a band had started up. She walked beside the river while the music thudded, feeling herself as a heavy, impervious, insensitive lump that, like a planet doomed always to be dark on one side, had vision in front only, a myopic searchlight blind except for the tiny three-dimensional path open immediately before her eyes in which the outline of a tree, a rose, emerged then submerged in dark. She thought, with the dove's voices of her solitude. Where? But where. How? Who? No, but where, where… Then silence and the birth of a repetition. Where? Here. Here? Here, where else, you fool, you poor fool, where else has it been, ever…?"
- Doris Lessing

"Did You Ever Wonder..."

"Did you ever wonder if the person in the puddle
 is real, and you're just a reflection of him?"
~ Calvin and Hobbes

"In All Seriousness..."

"Thomas Edison said in all seriousness: "There is no expedient to which a man will not resort to avoid the labor of thinking"- if we bother with facts at all, we hunt like bird dogs after the facts that bolster up what we already think- and ignore all the others! We want only the facts that justify our acts- the facts that fit in conveniently with our wishful thinking and justify our preconceived prejudices. As Andre Maurois put it: "Everything that is in agreement with our personal desires seems true. Everything that is not puts us into a rage." Is it any wonder, then, that we find it so hard to get at the answers to our problems? Wouldn't we have the same trouble trying to solve a second-grade arithmetic problem, if we went ahead on the assumption that two plus two equals five? Yet there are a lot of people in this world who make life a hell for themselves and others by insisting that two plus two equals five - or maybe five hundred!"
- Dale Carnegie

"Suez Canal Blocked! $10 Billion In Losses And Gasoline Shortages Spark Chaos On Global Supply Chains"

Full screen recommended.
"Suez Canal Blocked! $10 Billion In Losses And Gasoline 
Shortages Spark Chaos On Global Supply Chains"
by Epic Economist

"If things were already chaotic for global supply chains due to the ravaging effects of the health crisis, now that an enormous container ship is blocking both directions of the Suez Canal, global traders are in total "panic-mode," as shipping delays and widespread supply chain disruptions have been quickly worsening due to traffic jams at both entrances of the canal. The blockage is causing prices of commodities, including oil and gas, to skyrocket while triggering shortages of several other products, such as food and clothing. That’s what we’re going to expose in this video.

In what seemed to be an abrupt accident, the Panama-flagged container ship called the Ever Given, owned by Evergreen Marine Corp., has run aground inside the Suez Canal, the world's most important shipping lane, which connects the Red Sea with the Mediterranean. Considering the "megaship" is even larger than the Eiffel Tower, analysts say it might take weeks to unstuck the vessel and clear the path for other ships that have been blocked in there for days.

Shipping experts are stressing that this unexpected turn of events was "the worst-case scenario for global trading," with refiners, operators, and producers risking to lose billions of dollars of time-sensitive products, while multiple countries across Europe, as well as the United States, are on the verge of experiencing a massive inflationary spike in prices of several other goods over the next few weeks.

The 120-mile long canal is the most trafficked waterway in the world and a chokepoint for the global oil trade. It is the main passage for chemical tanker ships to haul crude and other crude products from the Middle East to Europe and the United States. Nearly 12% of global trade and 10% of liquefied natural gas cross the waterway every day.

At a time when shipping companies have already been struggling for a prolonged period with distribution strains provoked by the sanitary outbreak, the current maritime transportation halt may have catastrophic effects on the overall inflation outlook, especially considering the world was already dealing with a containership shortage that has pushed the cost of shipping up as much as 400 percent. While ports remain overwhelmed, slowing down the pace of global trade, American consumers' demand for products foreign-made products keeps reaching unprecedented highs, which in turn, is causing prices of several goods to skyrocket.

Over the past few weeks, the cost of transporting goods from Asia to the U.S. East Coast has increased to over $5,000 per FEU compared to $2,775 per FEU in March last year. Considering that the cargo ship blocking the Suez Canal is holding up traffic that carries approximately $10 billion worth of goods every day, losses of time-sensitive and perishable products, such as food and medicine, will not only cause a devastating economic fallout but also trigger shortages over the coming weeks.

Right after the incident, oil prices surged, with Brent crude oil increasing by 5.77 per cent to $64.3 per barrel. On the average day, 1 million barrels of crude and 1.4 million barrels of gasoline flow through the canal, just as other refined petroleum products such as jet fuel. The blockage will inevitably make energy concerns worse, as the delivery of liquified natural gas has been delayed, several refineries and manufacturing plants may have to slow down production and even shut down some facilities for the time being.

On top of that, the report emphasizes that car manufacturers will be tremendously impacted as there is an ongoing shortage of auto parts. Over the past few months, automakers predicted there would be a slump in demand and did not order or canceled orders for chips. However, recently, consumer demand fueled by the massive amounts of government relief and stimulus money has remarkably increased, and car manufacturers "were caught short and their efforts to catch up have been complicated, and made more expensive, by the messy state of their supply chains”.

The multiple - and unsuccessful - attempts to refloat the ship are the perfect example of how we aren't prepared to deal with unexpected disturbances, and therefore, bound to face panicked reactions and chaotic breakdowns as there are no alternative plans or safety measures to avoid the occurrence of generalized supply collapses.

And the longer the blockage lingers, the worse the impacts will be. That is to say, we must all get ready for a new reality that involves constant shortages, continuous collapses, and extremely inflated prices. As the world jumps from one crisis to the other, the only thing we can do is prepare for the storm. Dark clouds are on the horizon, and you should keep tuned to the next global developments here on Epic Economist channel."

"MMT: An Epic Disaster in the Making"

"MMT: An Epic Disaster in the Making"
bu Jim Rickards

"If you have not yet heard of Modern Monetary Theory (MMT), you will soon. If you’ve heard of it but don’t know what it means, join the club. There are only a handful of experts who really understand MMT. Those who do understand it fall into two camps – the true believers, who see MMT as the answer to practically every social policy issue facing the U.S. today and the skeptics, who view MMT as intellectual snake oil that will lead the U.S. down a path to financial ruin. I place myself in the latter category. Still, I recognize that you cannot effectively oppose a doctrine unless you understand it better than the advocates.

MMT is now the leading theory driving fiscal and monetary policy in the United States. A failure to understand MMT is equal to a failure to understand what’s driving U.S. economic policy, capital markets and investment performance. In its simplest form, MMT says that money has value because it is issued by a state, and the state will only accept that money in the payment of taxes. Citizens need to earn “state money” because they have to pay taxes. Therefore, the money has value because the state says so.

A state can run unlimited deficits simply by issuing more debt. The state can pay off the debt by issuing more currency, more debt, and so on. There is no limit to the size of deficits, the size of the national debt or interest costs because the state can always print more money to pay the debt and interest.

There is a corollary to the idea that a country can have unlimited debt. The debt must be in the same currency that the country prints. If you borrow money in a currency that you do not print, you can suffer a serious debt crisis. In theory, this would never happen in the U.S. because we borrow in dollars and print dollars. The U.S. can always print the dollars to pay the debt, so it can never go broke.

The MMT advocates take these ideas a step further. They argue that the U.S. Treasury and the Federal Reserve should be viewed as a consolidated entity. The Treasury exists to spend government money and collect taxes. The Fed exists to print government money.By combining operations, the Fed simply monetizes whatever the Treasury spends.

The MMT crowd says individuals and families who spend more than they earn and can go bankrupt. But that same idea does not apply to countries, according to MMT. Individuals cannot print money, but governments can. So, everyday personal finance rules simply do not apply. Every dollar the government spends goes into someone’s pocket. A government deficit is an individual surplus. What if the bond market balks at all the debt issuance? What if interest rates skyrocket?

MMT has easy answers to these concerns. MMT says that the government bond market is practically irrelevant. The Fed can simply put money in the Treasury’s account at the Fed and wire the money directly at the Treasury's instruction. No bonds are needed for deficit finance.

What if individuals lose confidence in the dollar because of money printing and deficit spending? MMT says you need dollars to pay your taxes, so you must keep working for dollars for that reason. Your level of confidence is irrelevant.

Just as the Fed can pay the Treasury’s bills with direct transfers and no bond market, the Treasury can also pay its bills without any tax collections. I repeat, no actual tax collections are needed. If taxes aren’t needed to pay government bills, what is the point of the tax system? MMT gives three reasons.

The first is that it forces you to accept dollars because you need them to pay the taxes. The second is that progressive taxes can reduce income inequality by taking from the rich and giving to the poor. The third is that taxes are a good way to fight inflation if it should emerge. If inflation happens, a large tax increase will cool the economy and end the inflation.

That’s the overview. Once you accept the ideas that spending and money printing can be unlimited (I don’t, but MMTers do), then it follows that there is no social need that has to go unmet. Money is literally no object.

The political class may be plunging headlong into MMT without knowing what it is. But we have to understand MMT to see its impact on markets and our lives and the dangers it may present if it is pursued much longer.

MMT Is a Disaster Waiting to Happen: MMT is the most potentially damaging economic doctrine I have ever encountered, with the exception of communism. Let’s begin with the idea that the Fed and Treasury should be merged in practice so that the Fed will monetize any amount of spending or borrowing the Treasury wants.

The reason markets have any confidence at all in the Fed is precisely because they are perceived as independent of congressional spending plans. MMT takes this confidence for granted and assumes the Fed can just crank up the printing press whenever the Treasury likes. But, as soon as this kind of coordinated effort appears, markets will lose confidence, inflation expectations will soar and interest rates will skyrocket. The plan would collapse before it really began. This is exactly the type of adaptive behavior by investors and markets that MMT academics do not understand.

MMT says that a currency issuer such as the U.S. can never go broke because it can simply print money to pay off the debt (provided the borrowings are in the same currency as the printed money). This may be true in some narrow, literal sense, but it does not mean investors have to wait around for the trainwreck.

The evidence is strong that debt-to-GDP ratios above 90% are a major headwind for growth. Today that ratio is 130% and heading higher. More borrowing does not produce growth; it simply makes the debt problem worse.
At some point, investors abandon the dollar for alternatives, such as land, oil, gold, silver, or alternative assets. Interest rates rise sharply, which only increases the deficit. The fact that the U.S. can print the money to pay the debt is irrelevant if the money itself is being repudiated.

Something like this happened in 1978 when the U.S. Treasury issued bonds denominated in Swiss Francs and West German Deutschmark because investors did not want exposure to U.S. dollars.

An even more extreme version happened in 1922-23 in the German Weimar Republic. The Weimar Republic could print Reichsmarks to pay off bonds denominated in Reichsmarks, but nobody wanted the bonds or the currency. The printing press is not the answer when it’s used promiscuously. The printing press is the problem.

The MMT claim that U.S. citizens cannot repudiate the dollar because they need it to pay taxes is also nonsense. Nothing is easier than the legal avoidance of taxes. For example, take any one of Silicon Valley’s tech billionaires. A company founder, such as Mark Zuckerberg of Facebook or Larry Page of Google, can issue shares tax-free. After years of hard work and success, that stock may be worth $100 billion. How much tax do you owe? The answer is zero. As long as you do not sell the stock, you do not owe any tax no matter how much the stock goes up in value.

Not everyone is a co-founder of Google, but the analysis is no different if you’re just an everyday investor with 100 shares. As long as you don’t sell the stock, you don’t owe any tax. Americans who contribute funds to 401(k)s or IRAs also avoid taxes on those amounts until they take distributions, which can be decades later.

The list of tax avoidance methods goes on. I was formerly International Tax Counsel to Citi, so I know exactly how the game is played. Only an academic sitting in a faculty lounge would believe that taxes force anyone to use any particular currency. Once the currency becomes debased, citizens will drop it like a hot rock.

Who Needs the Bond Market?: Another baseless claim of MMT is that government bonds are not needed to finance government spending. The Treasury can just spend what it wants by ordering the Fed to send funds to suppliers and contractors. In fact, the government bond market is the benchmark for every fixed income market in the world. Interest rates on government bonds are a critical signal of whether government policies are working (or not), whether inflation is gaining a foothold, and whether monetary policy is too tight or too loose.

The existence of a liquid government bond market signals that private investors regard the government as creditworthy. The idea that the Treasury market is an unnecessary frill shows how out of touch the MMT academics are and how little monetary history they have absorbed.

One of the more bizarre MMT claims is that “a government deficit is an individual’s surplus.” The idea is that the government is the sole source of money, and if the government didn’t spend it, you wouldn’t have any. The corollary is that the more the government spends, the more money you have. But if the dollar becomes dysfunctional, as has happened with many currencies in the past, people abandon it for a better substitute.

Gresham’s Law, “bad money drives out good,” is an explicit recognition that citizens are always ready to dump one type of money and hoard another when they are being shortchanged by the former. So, just because the Treasury spends money, it does not mean citizens have any confidence in the money being spent.

What About the Banks? The idea that government is the sole source of money is just wrong. This ignores the role of the banking system. In fact, the literature on MMT focuses almost exclusively on the government and individuals while largely ignoring the banking system. But, banks are the intermediaries between the government and individuals and businesses. Banks create money just as surely as the Fed by making loans. That money comes out of thin air in a manner similar to Fed printing in the conduct of open market operations.

The Treasury may be the creator of the dollar, but they are not the sole issuer of the dollar. The dollar is continually issued by both the Fed and the commercial banks without involving the Treasury. Money is issued by various financial intermediaries in various forms. The dollars in our wallets and purses are liabilities of the Federal Reserve System. (Read the fine print on a twenty-dollar bill, and you’ll see the words “Federal Reserve Note.” The Fed is the issuer, and a note is a liability). It is true that the Treasury borrows money, receives taxes and spends money. But it’s just another user of money, not the sole source. MMT’s understanding is exactly backward.

The Role of Taxes: Perhaps the most pernicious idea from the MMT crowd is that taxes have nothing to do with spending. MMT says government can just spend what it wants. The purpose of taxes is not to balance the budget or even pay for anything. Taxes exist solely to cool down inflation and redistribute income from rich to poor.

If taxes are just another monetary safety valve (to reduce inflation) or a redistributionist tool, there is no reason for any American to support any level of taxation. Central banks have other ways to cool inflation, such as raising rates.

The idea that the tax code is nothing more than a cattle prod to fight inflation is exactly the kind of mindlessness one expects from academics whose business or real-world experience is practically nil. This view of the tax code treats citizens like Pavlov’s dogs. We’re not Pavlov’s dogs. We understand the monetary and tax systems better than any MMT proponent because we live with them every day.

In conclusion, MMT proponents ignore human nature, adaptive behavior and unintended consequences. MMT will fail and cause great economic hardship in its wake. That’s a recipe for disaster."
Related:
"Demystifying Modern Monetary Theory"
by New Economic Thinking

"In a challenge to conventional views on modern monetary and fiscal policy, Professor Bill Mitchell of Newcastle University in Australia has emerged as one of the foremost exponents of Modern Monetary Theory (MMT), a heterodox challenge to the prevailing paradigms which dominate how mainstream economics is taught and economic policy implemented.  In his works, and the interview below, Mitchell presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest."

Gregory Mannarino, PM 3/26/21: "Another Missile Attack, Ebola Is Back, And Dimming The Sun"

Gregory Mannarino, PM 3/26/21:
"Another Missile Attack, Ebola Is Back, And Dimming The Sun"

The Daily "Near You?"

West Liberty, Ohio, USA. Thanks for stopping by!

“Where Am I Here?”

“Where Am I Here?”
by Jim Kunstler

"Biden’s style - specifically how he communicates with the American people - is also a page from the FDR playbook. Two months into his presidency, he has been surprisingly disciplined and economical with his words and appearances. The verbal gaffes that dogged him throughout his long career in Washington are nowhere to be seen.”
- Paul Brandus, Opinion columnist, USA Today

"I don’t know about you, but I was thrilled to hear Joe Biden tell America - with a faraway gleam in those ol’ blue Konstantin Chernenko eyes - that he’s expecting to run for a second term. The prospect must engross him, so effervescent was his campaign of 2020! Like all presidents, he’s learning on-the-job, but he’s already lapping Franklin Roosevelt in the hundred-day dash of executive action, showing those wicked CCP envoys who’s boss (why, they are, of course), and turning the depraved white supremacist state of Texas into a vibrant Honduras del Norte. As Mr. Biden would say, anyway… I’ve gone on too long about that….

Meanwhile, from offstage you could hear the crunch of his handlers chewing their Xanax, knowing that the game was a brain-fart away from disaster. Well, he only wandered away from the podium one time, and he dutifully followed the script. In fact, the script was right there in his hand the entire white-knuckle hour of this debut press conference, and he often appeared to be reading straight off the page. I’m sure he was making a funny when he said he came to the Senate 120 years ago. (Remember the battle over Wm. H Taft’s nomination to be Territorial Governor of the Philippines? And how, in the hearings, then-freshman Senator Ol’ Joe B produced three New Haven doxies who testified about Taft’s “abnormal appetites” during the nominee’s years at Yale?)

Traditionally, presidential press conferences are opportunities to inform the nation where things stand, and to send signals to the other nations (“friend and foe alike” as JFK used to say) about America’s intentions, especially in the nuclear age, with the world so nervously on edge. What did Americans learn from Mr. Biden’s debut? Mainly that an old dog can do some old tricks, follow a script, play the politician, fill a suit, run his mouth, and go through the motions - fulfilling people’s cynical expectation that some trip is being laid on them. Foreign observers will probably note that the executive branch is being run by a politburo more secretive even than the old gang who ran the USSR. No one in this country seems to notice.

Mr. Biden’s real job is as a walking MaxWriter© signature machine, ready to sit down and serve whenever Nancy Pelosi and Chuck Schumer send another 1000-plus-page bundle of legislation to the White House, designed to ratchet up the government’s despotic power over everyday life in order to “solve the problems” of free enterprise, free elections, and free speech with free money and hyper-complexity.

Coming up soon, for instance: HR1, the “For the People [ha!] Act,” designed to maximally enable election fraud by enrolling as many live bodies as possible to vote with no chance of verifying their identities, age, place of residence, or citizenship. The act would certainly introduce many new layers of chaos and delay in ascertaining election results. It would also take away the states’ constitutional duty to fashion their own election requirements and, in the process, further erode the legitimacy of the federal government and give many states more reason to oppose and nullify it, or even secede from it - meaning, another step toward that looming civil war 2.0.

One strange exchange in the press conference especially stood out [from the official White House transcript]:

Q: [Janet Rodriguez, Univision] Thank you, Mr. President. We, too, have been reporting at the border. And just like Cecilia, we ran into a pair of siblings who came in on Monday, who were detained by CBP - had the phone number for their mother who lives in the U.S. We have contacted the mother. That’s the only way they know her kids are here because CBP, today, Thursday, has not contacted that mother. So, when can we expect your promise of things getting better with contacting and expediency and processing?

THE PRESIDENT: Well, they’re already getting better, but they’re going to get real - they’ll get a whole hell of lot better real quick, or we’re going to hear of some people leaving, okay?

Did you catch that? The siblings’ mother lives in the USA? How did she get here and when? Is she here legally? Why were these children living in another country, away from their mother, and for how long? Why did the mother abandon her children in the country she left? Did anybody notice that this story doesn’t add up?"

"The Notion..."

 

"Do We Really Think a Band-Aid Will Heal a Tumor?"

"Do We Really Think a Band-Aid Will Heal a Tumor?"
by Charles Hugh Smith

"If we misdiagnose the disease, our treatment won't work. We're all familiar with medical misdiagnoses, which lead to procedures and prescriptions that can't possibly fix the patient's illness because the source has been missed or misinterpreted. Medical diagnoses are often tricky, as many general symptoms can arise from a variety of sources.

Social and economic ills can also be tricky to diagnose, and the diagnosis is hindered by political polarization and sacrosanct orthodoxies which make it difficult to have a rational discussion in public about many difficult issues. If we can't even discuss a problem, then that creates another problem, because problems that can't be discussed openly cannot be solved. There's also a human tendency to choose the diagnosis with the easiest-at-hand solution. This allows us to quickly apply an approved solution and then declare the problem solved.

The current flood of financial stimulus is an example of this misdiagnosis and application of an easy solution which fails to address the underlying disorder. The conventional diagnosis of the post-pandemic economy is that the only problem is people don't have enough money, and so giving them money to spend will cure the financial damage the pandemic inflicted. (Never mind that the economy was rolling over in 2019 long before the pandemic, which served as a catalyst in a sick, unstable status quo.)

Creating $1.9 trillion out of thin air and distributing it is painless: who doesn't like free money? But is a scarcity of cash the source of America's economic malaise? The general view is that pumping free money into the economy will automatically increase employment, launch new businesses, increase profits and tax revenues, etc.

Yet as I discussed in my blog post on the velocity of money, "Our Dead Money Economy," as the money supply expands in a parabolic fashion, the frequency that all this new money is changing hands (money velocity) is in a free-fall to historic lows. Simply put, much of this money is either being saved ("hoarded" to economists who want us all to spend every dime of it), applied to debts outstanding (back rent, credit cards, etc.) or sent overseas for imported goods. There is no guarantee that all this stimulus will generate the jobs, new enterprises, profits and tax revenues that are anticipated.

Distributing stimulus money and expecting this solution to fix America's economic malaise is akin to applying a Band-Aid over a tumor. It may well hide the problem but it cannot heal the disorder or save the patient.

My current work focuses on three dynamics that define any human civilization: the distribution of resources, capital and agency. Resources are straightforward--food, energy, shelter, etc.-- and capital is financial (money), tangible (tools, ownership of land and enterprises, etc.) and intangible (social and human capital). Capital productively invested produces income.

Agency is control of one's life and having a say in community/public decisions and having some control and power over one's circumstances. When these three are distributed asymmetrically, where the majority of the resources, capital and power are distributed to an elite, the society and economy are imbalanced and prone to stagnation and eventual discord.

The statistics are unequivocal: income-wealth inequality in the U.S. continues reaching new heights. This is reflected in asymmetric access to healthcare and other resources, asymmetric ownership of income-producing capital and limited agency. ("Trends in Income From 1975 to 2018")

The bottom 90% of the U.S. economy has been decapitalized: debt has been substituted for capital. Capital only flows into the increasingly centralized top tier, which owns and profits from the rising tide of debt that's been keeping the bottom 90% afloat for the past 20 years.

As I've often observed here, globalization and financialization have richly rewarded the top 0.1% and the top 5% technocrat class that serves the New Nobility's interests. Everyone else has been been reduced to a powerless peasantry of debt-serfs who rely on lotteries and playing the stock market casino or hoping their mortgaged house on the Left or Right coasts doubles in value, even as the entire value proposition for living in a congested urban sprawl vanishes.

America has no plan to reverse this destructive tide of Neofeudal Pillage. Our leadership's "plan" is benign neglect: just send a monthly stimulus of bread and circuses (the technocrat term is Universal Basic Income UBI) to all the disempowered, decapitalized households so they can stay out of trouble and not hinder the New Nobility's pillaging of America and the planet. The bottom 90% of American households receive a mere 3% of capital-generated income. That 3% might as well be 1% or 0.1% - it's inconsequential.

As for agency: Martin Gilens of Princeton University and Benjamin Page of Northwestern University are the authors of the study "Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens." Professor Gilens gave this brief summary of their conclusions:

"I'd say that contrary to what decades of political science research might lead you to believe, ordinary citizens have virtually no influence over what their government does in the United States. And economic elites and interest groups, especially those representing business, have a substantial degree of influence. Government policy-making over the last few decades reflects the preferences of those groups - of economic elites and of organized interests." (Source: Foreign Affairs, January 2021, "Monopoly Versus Democracy") That is as definitive as soaring income-wealth inequality. Both are inherently destabilizing.

Meanwhile, central bankers, monopolists and the politicos whose campaigns are funded by monopolists are all frantically trying to convince us their Band-Aid will heal the metastasizing tumor consuming America. And if it doesn't, well, it was inevitable that the central banks would boost the wealth of the top 0.1% and leave the bottom 90% spiraling into the abyss; we really can't stop "technology" (heh) or "capitalism" (heh-heh). Consider this excerpt from the article:

"...high-tech monopolists (pursue) a strategy of encouraging people to see immense inequality as a tragic but unavoidable consequence of capitalism and technological change. But as Lynn shows, one of the main differences between then and now is that, compared to today, fewer Americans accepted such rationalizations during the Gilded Age. Today, Americans tend to see grotesque accumulations of wealth and power as normal. Back then, a critical mass of Americans refused to do so, and they waged a decades-long fight for a fair and democratic society."

Distributing "free money" (much of which goes to favored industries and cartels) is a Band-Aid over the metastasizing tumor of perversely imbalanced distributions of resources, capital and agency/power. If America cannot bear to discuss these realities (and structural solutions - yes, there are solutions) openly, they will unravel the social, economic and political orders in a non-linear Cultural Revolution with a highly uncertain outcome. Borrowing a quarter of the nation's entire economic output every year to prop up an ineffective, corrupt status quo is putting a Band-Aid over a tumor."

Gregory Mannarino, AM 3/26/21: "More Proof: The Economic FREE-FALL Is Again Worsening"

Gregory Mannarino, AM 3/26/21:
"More Proof: The Economic FREE-FALL Is Again Worsening"

Musical Interlude: Marvin Gaye, "Inner City Blues (Make Me Wanna Holler)"

Marvin Gaye, 
"Inner City Blues (Make Me Wanna Holler)"