Full screen recommended.
Liquid Mind, “My Orchid Spirit (Extragalactic)”
So, we rise from the rubble...
Saturday, March 18, 2023
"A Look to the Heavens"
"These cosmic clouds have blossomed 1,300 light-years away, in the fertile starfields of the constellation Cepheus. Called the Iris Nebula, NGC 7023 is not the only nebula to evoke the imagery of flowers. Still, this deep telescopic image shows off the Iris Nebula's range of colors and symmetries, embedded in surrounding fields of interstellar dust.
Within the Iris itself, dusty nebular material surrounds a hot, young star. The dominant color of the brighter reflection nebula is blue, characteristic of dust grains reflecting starlight. Central filaments of the reflection nebula glow with a faint reddish photoluminesence as some dust grains effectively convert the star's invisible ultraviolet radiation to visible red light. Infrared observations indicate that this nebula contains complex carbon molecules known as PAHs. The dusty blue petals of the Iris Nebula span about six light-years."
"What If..."
~ Author Unknown
A truly terrifying thought...
"Urgent Warning: "The Game's Over" - Prepare Immediately!"
Full screen recommended.
Canadian Prepper, 3/18/23
"Urgent Warning: "The Game's Over" -
Prepare Immediately!"
Comments here
"4th US Bank Is On The Brink Of Collapse: We Are In Far More Trouble Than Most People Realize"
Full screen recommended.
"4th US Bank Is On The Brink Of Collapse:
We Are In Far More Trouble Than Most People Realize"
By Epic Economist
"Every single day there are more twists and turns to this new banking panic. In fact, we just learned that the big banks have gotten together to save First Republic. That is good news, because a collapse of First Republic would have been a major catastrophe. But First Republic is just one in a very long list of banks that are in very serious jeopardy. For months, I relentlessly warned that our financial system could not handle higher interest rates. It was inevitable that financial institutions would start to break, and that is precisely what has happened. We are in far more trouble than most people realize, and we are still only in the very early chapters of this crisis.
Initially, there were rumors that a buyer was being sought for First Republic, but instead the “too big to fail” banks agreed on a plan to deposit a total of 30 billion dollars into the troubled institution…Needless to say, executives at First Republic are greatly relieved. So much money had been pulled out of the bank in recent days, and at one point on Thursday the stock was selling for less than 20 dollars a share…
So why was First Republic in so much trouble? Well, just like Silicon Valley Bank and Signature Bank, they were sitting on enormous unrealized losses because the government bonds that they were holding had lost a ton of value thanks to rapidly rising interest rates. Ultimately, those unrealized losses made a potential purchase of First Republic quite “unappealing” to the “too big to fail” banks…
This crisis is just getting started. Every domino that falls is just going to make things even worse, and ultimately I believe that the entire system is headed for an unprecedented meltdown. So I would encourage you to do whatever you need to do to protect yourself, because things are only going to get crazier from here."
Comments here:
The Poet: Mary Oliver, "What I Have Learned So Far"
"What I Have Learned So Far"
"Meditation is old and honorable, so why should I
not sit, every morning of my life, on the hillside,
looking into the shining world? Because, properly
attended to, delight, as well as havoc, is suggestion.
Can one be passionate about the just, the
ideal, the sublime, and the holy, and yet commit
to no labor in its cause? I don't think so.
All summations have a beginning, all effect has a
story, all kindness begins with the sown seed.
Thought buds toward radiance. The gospel of
light is the crossroads of - indolence, or action.
Be ignited, or be gone."
~ Mary Oliver
"For The Most Part..."
"Human beings never think for themselves, they find it too uncomfortable. For the most part, members of our species simply repeat what they are told - and become upset if they are exposed to any different view. The characteristic human trait is not awareness but conformity, and the characteristic result is religious warfare. Other animals fight for territory or food; but, uniquely in the animal kingdom, human beings fight for their 'beliefs.' The reason is that beliefs guide behavior, which has evolutionary importance among human beings. But at a time when our behavior may well lead us to extinction, I see no reason to assume we have any awareness at all. We are stubborn, self-destructive conformists. Any other view of our species is just a self-congratulatory delusion."
- Michael Crichton, "The Lost World"
"Financial Assassins"
"Financial Assassins"
From bank runs to CBDCs and the
controlled demolition of American finance...
By Joel Bowman
Buenos Aires, Argentina - “Does the Fed’s bailout of Silicon Valley Bank bring us closer to a Central Bank Digital Currency?” It’s a subject we’ve covered before in these weekend pages... and one BPR macro analyst, Dan Denning, posed in last night’s research note to paying members. We’ll get to that, and what it might mean for your money, below. But first, a quick look at the markets...Let’s start with the bad news... and work our way back into the light.
Weekend Wrap: Concerns over systemic risk in the banking sector had traders on edge this week and sent stocks into the red in Friday’s session. The Dow Jones Industrial Average fell by more than 400 points during the day to finally end the session down 384 points, or 1.2%. The S&P 500 and the Nasdaq closed lower by 1.1% and 0.7% respectively.
For the week, the three major indices were mixed. The Dow finished slightly lower, -0.2%, while the S&P 500 ended higher by 1.4%. The Nasdaq, meanwhile, put in its strongest weekly performance since early January with a 4.4% rally. For the year, the big three are as follows: Dow -3.85%, S&P 500 +2.4% and Nasdaq +12%.
Meanwhile gold, that go-nowhere, do-nothing, barbarous relic, had a decidedly go-somewhere, do-something kind of week. The Midas Metal popped $60/oz in Friday’s trading alone to break through the psychological $2,000/oz threshold. It was last seen trading right around the $2,010/oz mark, up around $150/oz, or 8.9% for the year. Gold also took out fresh all time highs in Aussie dollars (AUD$2,965/oz) and pound sterling (£1,570/oz).
Impressive as that looks, it’s nothing compared to the runs posted over in the crypto world. Top dog, Bitcoin, stacked on a massive $4,600 this week. At BTC $26,800, it’s up a whopping 60% year to date. At least, it was last we looked. It could be anywhere by the time you read this. One recalls the great Friedrich Hayek’s prophetic words from an interview he gave at the University of Freiburg back in (wait for it...) 1984. “I don’t believe we shall ever have good money again before we take it out of the hands of government,” he told the interviewer. “But we can’t take it violently out of the hands of government. All we can do is by some sly, roundabout way introduce something they can’t stop.”
Of course, there’s a world of difference between a free market digital money – which lives and dies to the extent that it prioritizes and meets real world demands like privacy and security – and a government issued Fed Coin, which is little more than a tool of direct state oppression and control in the hands of financial assassins.
Yellen at Banks: Which brings us back to the question of what our mate up in Laramie has called the “controlled demolition” of the financial system... and the CBDC “solutions” proposed by Big Gov. Here’s Dan with some context..."Silicon Valley Bank and Signature Bank became the second and third-largest bank failures in American history in a matter of days. SVB had assets of $209 billion at the time. Signature Bank had assets of $118 billion. The largest bank failure in American history was Washington Mutual in 2008 at $307 billion (it would be around $386 billion in today’s money, adjusted for inflation)."
The bad news is that there is a lot more fake wealth to be destroyed. And you’ll only be protected if you’re part of the too-big-to-fail Washington/Wall Street/Silicon Valley class. Treasury Secretary Janet Yellen made that clear earlier this week when she testified in front of Congress that depositors in community banks would not be bailed out or ‘made whole’ with government guarantees because those banks are not ‘too big to fail.’
For reference, here’s Senator James Lankford from Oklahoma, pressing Ms. Yellen on why the Federal government is incentivizing large depositors to move their funds away from community banks and into the concentrated hands of “approved players.” "Sen. James Lankford Presses Janet Yellen on FDIC Special Exceptions Which Are Accelerating Big Bank Consolidation": "We have seen the mergers of banks over the past decade. I'm concerned you're about to accelerate that by encouraging anyone who has a large deposit in a community bank to say 'we're not going to make you whole but if you go to one of our preferred banks we will make you whole'"
Once you’re in the system, then comes the digital currency, the CBDC. And that, as we’ve written about before, is nothing more than permission based money that gives the Feds the power to control how and when you spend money or receive government benefits." This is the direction we’re heading... and all road signs indicate there’s danger ahead."
"Are You Ready for What’s Coming?"
Full screen recommended,
Dan, iAllegedly 3/18/23
"Are You Ready for What’s Coming?"
"Business is becoming more and more difficult to conduct on a weekly basis. GM is halting production on their vehicles again. Small business owners are having a difficult time getting employees and customers people need to prepare for what’s coming."
Comments here:
"Overwhelming Prices At Kroger! This Is Getting Crazy! What Now!?"
Full screen recommended.
Adventures With Danny, 3/18/23
"Overwhelming Prices At Kroger!
This Is Getting Crazy! What Now!?"
"In today's vlog we are at Kroger, and are noticing some overwhelming price increases on groceries! It's getting rough out here as prices continue to skyrocket in the grocery stores!"
Comments here:
"The Gathering Storm" (Excerpt)
"The Gathering Storm"
by Douglas Macgregor
Excerpt: "The crisis of American national power has begun. America’s economy is tipping over, and Western financial markets are quietly panicking. Imperiled by rising interest rates, mortgage-backed securities and U.S. Treasuries are losing their value. The market’s proverbial “vibes” - feelings, emotions, beliefs, and psychological penchants - suggest a dark turn is underway inside the American economy.
American national power is measured as much by American military capability as by economic potential and performance. The growing realization that American and European military-industrial capacity cannot keep up with Ukrainian demands for ammunition and equipment is an ominous signal to send during a proxy war that Washington insists its Ukrainian surrogate is winning.
Russian economy-of-force operations in southern Ukraine appear to have successfully ground down attacking Ukrainian forces with the minimal expenditure of Russian lives and resources. While Russia’s implementation of attrition warfare worked brilliantly, Russia mobilized its reserves of men and equipment to field a force that is several magnitudes larger and significantly more lethal than it was a year ago.
Russia’s massive arsenal of artillery systems including rockets, missiles, and drones linked to overhead surveillance platforms converted Ukrainian soldiers fighting to retain the northern edge of the Donbas into pop-up targets. How many Ukrainian soldiers have died is unknown, but one recent estimate wagers between 150,000-200,000 Ukrainians have been killed in action since the war began, while another estimates about 250,000.
Given the glaring weakness of NATO members’ ground, air, and air defense forces, an unwanted war with Russia could easily bring hundreds of thousands of Russian Troops to the Polish border, NATO’s Eastern Frontier. This is not an outcome Washington promised its European allies, but it’s now a real possibility."
Full article is here:
Col Douglas Macgregor Straight Calls, 3/18/23
"Three Ukrainian Armies Destroyed By The Russians"
"Analysis of breaking news and in-depth discussion of current
geopolitical events in the United States of America and the world."
Comments here:
Friday, March 17, 2023
"What If All Banks Shut Down Tomorrow? Would You Survive? Hungry People Will Take Your Food"
Full screen recommended.
Jeremiah Babe, 3/17/23
"What If All Banks Shut Down Tomorrow?
Would You Survive? Hungry People Will Take Your Food"
Comments here:
“15 Weird Foods That Were Common During The Great Depression And Will Come Back Soon”
Full screen recommended.
“15 Weird Foods That Were Common During
The Great Depression And Will Come Back Soon”
by Epic Economist
"The Great Depression was an era of scarcity induced-creativity. With millions of people out of work and widespread shortages of foods and goods, families had a hard time scraping money together to feed their children. They had to make things work without household staples and other products that weren’t readily available at the stores when they needed them. Their innovations came out of necessity – from women dying their legs with tea instead of using stockings to men mending their shoes with cardboard, Americans during the Great Depression used their resourcefulness to make do with what little they had. Inventiveness became a survival mechanism.
Soup kitchens sprung up across the country to ensure that unemployed workers got at least one meal daily. It was precisely in the kitchen that you could see the biggest reflection of the ingenuity and the desperation of that era. Those who lived in rural areas typically planted gardens and raised chickens and cows. Men used to go to the woods to hunt and fish. New recipes were concocted, and many food combinations that would be considered disgusting today were actually delicacies during that time.
For example, people used to eat snapping turtles. Snapping turtles are cold-blooded reptiles and a cousin to lizards, snakes, and alligators. On average, they weigh 10 to 36 pounds each. Capturing them is not easy. They hiss like a cat if you get too close, and their jaws can easily bite off a finger. Folklore claims that the head can still bite you even after a snapping turtle is beheaded. While that may be a part of the myth, turtles could be acquired in the spring during mating season when they were on the move and were spotted crossing roads. When they leave their natural water environment, they’re much easier to catch. Turtle soup is essentially a vegetable stew with green onions, carrots, and turtle meat instead of beef or chicken. People say it tastes like a combination of pork, clams, and chicken thighs. Although it may seem weird, this soup was a way to survive during such hard times. Today, they’re still considered a delicacy in many famous restaurants.
Spurred on by First Lady Eleanor Roosevelt, who encouraged families to save money and resources by practicing savvier home economics, many meals that people didn’t consider eating were now consumed without question. In face of hunger and misery, our society was forced to adapt.
It’s safe to say that many of these dishes aren’t for the faint of heart – or the weak of stomach. But at the end of the day, they represent the American spirit of adaptability, resilience, and for better or worse, creativity. Food scarcity was real, and some people who lived through the Depression never overcame the fear of going to bed hungry.
As hard as times were, families kept trying to find ways to survive the storm, and they did. We have a lot to learn from our ancestors because one day, we will need to develop our own sense of resourcefulness too. The recipes of that period may come back to our tables as the economy moves towards another devastating crisis. That’s why today, we decided to compile unusual foods that were very popular in the 1930s."
Comments here:
"A Look to the Heavens"
“What makes this spiral galaxy so long? Measuring over 700,000 light years across from top to bottom, NGC 6872, also known as the Condor galaxy, is one of the most elongated barred spiral galaxies known.
The galaxy’s protracted shape likely results from its continuing collision with the smaller galaxy IC 4970, visible just above center. Of particular interest is NGC 6872′s spiral arm on the upper left, as pictured here, which exhibits an unusually high amount of blue star forming regions. The light we see today left these colliding giants before the days of the dinosaurs, about 300 million years ago. NGC 6872 is visible with a small telescope toward the constellation of the Peacock (Pavo).”
"The Center Of The Universe..."
"When science discovers the center of the universe
a lot of people will be disappointed to find they are not."
- Bernard Baily
Chet Raymo, “As Time Goes By”
“As Time Goes By”
by Chet Raymo
“Is time something that is defined by the ticking of a cosmic clock, God’s wristwatch say? Time doesn’t exist except for the current tick. The past is irretrievably gone. The future does not yet exist. Consciousness is awareness of a moment. Or is time a dimension like space? We move through time as we move through space. The past is still there; we’re just not there anymore. The future exists; we’ll get there. We experience time as we experience space, say, by looking out the window of a moving train. Or is time…
Physicists and philosophers have been debating these questions since the pre-Socratics. Plato. Newton. Einstein. Most recently, Lee Smolin. Without resolution. What makes the question so difficult, it seems to me, is that time is inextricably tied up with consciousness. We won’t understand time until we understand consciousness, and vice versa. So far, consciousness is a mystery, in spite of books with titles like “Consciousness Explained”. Will consciousness be explained? Can consciousness be explained? If so, will it require a conceptual breakthrough of revolutionary proportions? Or is the Darwinian/material paradigm enough? Are we in for an insight, or for a surprise?
As I sit here at my desk under the hill, looking out at a vast panorama of earth, sea and sky, filled, it would seem, infinitely full of detail, so full that my awareness can only skim the surface, I have that uneasy sense that it’s going to be damnably difficult to extract consciousness, as a thing, from the universe in its totality. I think of that word “entanglement,” from quantum theory, and I wonder to what extent consciousness is entangled, perhaps even with past and future.
Who knows? Perhaps consciousness, or what I think of as my consciousness, is just a slice of cosmic consciousness, in the same way that the present is a slice of cosmic time. As a good Ockhamist, I am loathe to needlessly multiply hypotheses. But time will tell. Or consciousness will tell. Or something.”
"Casablanca", "As Time Goes By",
Original Song by Sam (Dooley Wilson)
"Not Such An Easy Business..."
“Over the years you get to see what a struggle life is for most people, how tough it is, how easy it is to be judgmental and criticize and stand outside of situations and impart your wisdom and judgment. But over the decades I've got more tolerant of people's flaws and mistakes. Everybody makes a lot of them. When you're younger you feel: "Hey, this person is evil" or "This person is a jerk" or stupid or "What's wrong with them?" Then you go through life and you think: "Well, it's not so easy." There's a lot of mystery and suffering and complication. Everybody's out there trying to do the best they can. And it's not such an easy business.”
- Woody Allen
○
Joe South, "Walk A Mile In My Shoes"
The Poet: Theodore Roethke, "In a Dark Time"
"In a dark time, the eye begins to see,
I meet my shadow in the deepening shade;
I hear my echo in the echoing wood-
A lord of nature weeping to a tree.
I live between the heron and the wren,
Beasts of the hill and serpents of the den.
What’s madness but nobility of soul
At odds with circumstance? The day’s on fire!
I know the purity of pure despair,
My shadow pinned against a sweating wall.
That place among the rocks- is it a cave,
Or winding path? The edge is what I have.
A steady storm of correspondences!
A night flowing with birds, a ragged moon,
And in broad day the midnight come again!
A man goes far to find out what he is-
Death of the self in a long, tearless night,
All natural shapes blazing unnatural light.
Dark, dark my light, and darker my desire.
My soul, like some heat-maddened summer fly,
Keeps buzzing at the sill. Which I is I?
A fallen man, I climb out of my fear.
The mind enters itself, and God the mind,
And one is One, free in the tearing wind."
- Theodore Roethke
"Mencken, Where Are You Now That We Need You?"
"Mencken, Where Are You Now That We Need You?"
"Henry Louis Mencken, The “Sage of Baltimore”, (September 12, 1880 – January 29, 1956) was an American journalist, essayist, satirist, cultural critic, and scholar of American English. He commented widely on the social scene, literature, music, prominent politicians, and contemporary movements. His satirical reporting on the Scopes Trial, which he dubbed the "Monkey Trial," also gained him attention."
○
'The men the American people admire most extravagantly are the most daring liars; the men they detest most violently are those who try to tell them the truth.'
"The demagogue is one who preaches doctrines he knows to be untrue to men he knows to be idiots."
"When a candidate for public office faces the voters he does not face men of sense; he faces a mob of men whose chief distinguishing mark is the fact that they are quite incapable of weighing ideas, or even of comprehending any save the most elemental - men whose whole thinking is done in terms of emotion, and whose dominant emotion is dread of what they cannot understand. So confronted, the candidate must either bark with the pack or be lost... All the odds are on the man who is, intrinsically, the most devious and mediocre."
"When somebody says it’s not about the money, it’s about the money."
"A professional politician is a professionally dishonorable man. In order to get anywhere near high office he has to make so many compromises and submit to so many humiliations that he becomes indistinguishable from a streetwalker."
"The average man never really thinks from end to end of his life. The mental activity of such people is only a mouthing of cliches. What they mistake for thought is simply a repetition of what they have heard. My guess is that well over 80 percent of the human race goes through life without having a single original thought."
"I have little belief in human progress. The human race is incurably idiotic. It will never be happy."
- H. L. Mencken
○
"Words..."
"Words ought to be a little wild, for they
are the assaults of thoughts on the unthinking. "
- John Maynard Keynes
"The Days of Easy Money Are Over"
Full screen recommended.
Dan, iAllegedly 3/17/23
"The Days of Easy Money Are Over"
"The economy is in a precarious state. Today we cover everything
from metals, real estate to crypto. Jack Hanney joins us to talk again."
Comments here:
Greg Hunter, "Weekly News Wrap-Up 3/17/23"
"Weekly News Wrap-Up 3/17/23"
Banks, Inflation, Bailout, War & Collapse – Dr. PCR & Bill Holter
By Greg Hunter’s USAWatchdog.com
"This Weekly News Wrap-Up is featuring a double header of expert guests. Dr. Paul Craig Roberts (PCR), former Assistant Treasury Secretary in the Reagan Administration, and Bill Holter, who is a financial writer and precious metals expert. First up: PCR weighs in on possible nuclear war with Russia and the possibility of a total collapse of the financial system. PCR, who is also an award-winning journalist, says, “Five banks have derivative exposure of $188 trillion. That is twice the Gross Domestic Product (GDP) of the entire world. How can that happen? Where were the regulators that let this type of situation develop? It’s mindless, and no one can know what the consequences are. How are you going to examine these derivatives? This is just as dangerous, in its own way, as the fact that Putin allows this Ukraine war to drag on and on and on. It’s mindless. Both bets are mindless, and in the mindlessness is the danger. In the Ukrainian danger, it could end in nuclear war, and the financial danger is the entire western world financial system could collapse. Nobody is watching anything. It’s just one stupidity after another.”
Bill Holter also has dire warnings about the ongoing banking crisis. They want the public to think all is under control, but that is not the truth. The idea of control and calm is coming at a very high price. Holter explains, “The U.S. has on-book debt of $31 trillion. it has to borrow $1 trillion a year to keep the doors open. That tells you we have already stepped through the door of banana republic land. Now, they are going to take on a $17 trillion obligation to cover the entire banking system (meaning all U.S. bank deposits). That is ridiculous. This is like one drunk trying to hold up another drunk. They have now put the balance sheet of the U.S. Treasury in the crosshairs of speculators, which will destroy the Treasury’s balance sheet.
This is an ongoing collapse, and I think they believe they still have control. This is like a giant 1993 when George Soros broke the Bank of England. That’s where this is headed. It also ends up with the dollar no longer being the world reserve currency.” There is much more in the 1-hour newscast."
Join Greg Hunter on Rumble as he interviews two heavy weights. You are getting analysis from Dr. Paul Craig Roberts and Bill Holter in the Weekly News Wrap-Up for 3/17/23.
"Hunting Icebergs"
"Hunting Icebergs"
Looking for trouble, the Feds get just what they're after...
By Bill Bonner
San Martin, Argentina - “The ship is sinking! To the lifeboats!” “I’m sorry, Lady. Just the first-class passengers!” The feds are going to bail out the banks and their high-end customers. California governor Gavin Newsom’s wineries will have a place in the lifeboats. So will billionaire Mark Cuban’s drug company. But down on the lower decks, they cross themselves, put on life-vests and hope for the best.
Silicon Valley Bank…Signature Bank…and now…CNN Business reports: "Global markets mixed as Credit Suisse accepts $54 billion lifeline."
And here comes a San Francisco bank, First Republic, racing to the public trough. Wall Street Journal: "Stocks Close Higher on Hopes for First Republic Rescue."
The Swiss bank was rescued by the central bank of Switzerland. The American bank got $30 billion from fellow US banks. Banks are in trouble because they got caught up in the spirit of the Fed’s bubble. They made risky loans. They bought risky assets. And when interest rates rose…and real risk reasserted itself…the seas turned rough and boats began to sink. So let’s rehearse.
Disappearing Money: The feds lowered rates to below zero, adjusted for inflation; they kept real rates negative for more than 10 years. People borrowed…US total debt is now over $90 trillion. Consumer prices rose; inflation is now at 7% on a 2-year ‘stacked’ basis.
Then, to fight inflation, the Fed raised the cost of debt. Homeowners now face mortgage payments up 30% from last year. And banks find that their collateral and reserves have fallen so much they can no longer meet withdrawals.
What happens next? A lot of investors, speculators, banks, and businesses are in a tight spot. Many cannot pay their debts. They default…money disappears. Silvergate was worth nearly $6 billion in November ’21. That was $6 billion of wealth that people thought they had. Then, 16 months later, almost all of that ‘wealth’ has vanished. Poof! And the electric truck maker, Rivian, is down 90%...another $100 billion – gone.
The middle class stores much of its wealth in its houses. Solid. Bricks-and-mortar wealth…that won’t go away in a crisis. But what’s this? The house doesn’t go away…but the equity disappears. House prices have been falling for 6 months in a row, according to the Case Shiller 20-City Index. Only 20% of the homes sold last year were “affordable” based on median income/home prices.
Outflanked: The middle class is getting attacked on both flanks. Its wealth falls along with house prices. And its real income falls as consumer prices rise. Adjusted for inflation, wages have fallen for 23 months in a row; for nearly 2 years, ordinary households have gotten poorer. MarketWatch: ‘Net worth of median household is basically nothing,’ says Carl Icahn. ‘We have some major problems in our economy.’
And now, the middle class will pay for the bank bailouts too. If the feds won’t allow the correction to continue – with bank failures, defaults, bankruptcies, and market crashes – the only plausible way out of the debt burden is inflation. Ordinary households will pay for it – in the form of higher consumer prices.
In the meantime, the money supply itself is falling. Over the last year, it dropped 1.7%. That doesn’t sound like much, but it is the biggest drop ever recorded. And our guess is that the situation is going to get a lot worse before it gets better. What we’ve seen so far is just the beginning of the correction. Based on the traditional relationship of debt/GDP, we figure the economy should have about $40 trillion in debt, not $90 trillion. This means that there’s a lot of bad debt still to be reckoned with.
And despite all the blah-blah…about Republicans vs. Democrats…conservative vs. liberals…blacks vs. white…there are only two groups that really matter. There are the deciders. And there is everyone else, those who don’t decide. In an honest, free economy, Mr. Market puts the losses where they belong. You make a bad bet; you lose. And you serve as a moral lesson for everybody else. ‘We won’t do what that dumbbell did,” they say to each other. In a dishonest, un-free economy, the deciders put the losses onto whomever they want. Who pays? Would it surprise you if they put them on the un-deciders? And reserve the lifeboats for themselves?"
Subscribe to:
Posts (Atom)