Tuesday, October 24, 2023

Chet Raymo, “The Spark of Life”

“The Spark of Life”
by Chet Raymo

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

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

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

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

Free Download: Olaf Stapledon, "Sirius: A Fantasy of Love and Discord"

"But what a universe, anyhow! No use blaming human-beings for what they were. Everything was made so that it had to torture something else. Sirius himself was no exception, of course. Made that way! Nothing was responsible for being by nature predatory on other things, dog on rabbit and Argentine beef, man on nearly everything, bugs and microbes on man, and of course man himself on man. (Nothing but man was really cruel, vindictive, except perhaps the loathly cat). Everything desperately struggling to keep its nose above water for a few breaths before its strength inevitably failed and down it went, pressed under by something else. And beyond, those brainless, handless idiotic stars, lazing away so importantly for nothing. 

Here and there some speck of a planet dominated by some half-awake intelligence like humanity. And here and there on such planets, one or two poor little spirits waking up and wondering what in the hell everything was for, what it was all about, what they could make of themselves; and glimpsing in a muddled way what their potentiality was, and feebly trying to express it, but always failing, always missing fire, and very often feeling themselves breaking up as he himself was doing. Just now and then they might feel the real thing, in some creative work, or in sweet community with another little spirit, or with others. Just now and then they seemed somehow to create or to be gathered up into something lovelier than their individual selves, something which demanded their selves sacrifice and yet have their selves new life. But how precariously, torturingly; and only just for a flicker of time! Their whole life-time would only be a flicker in the whole of titanic time. Even when all the worlds have frozen or exploded, and all the suns gone dead and cold therewill still be time. Oh God, what for?"
 - Olaf Stapledon, "Sirius: A Fantasy of Love and Discord"
Freely download "Sirius: A Fantasy of Love and Discord",
by Olaf Stapledon, here:

"Albanian Proverb"

"When you have given nothing, ask for nothing."
- Albanian Proverb

"Banks Close 100s Of Branches And Layoff 1000s Of Workers As They Brace For Financial Meltdown"

Full screen recommended.
Epic Economist, 10/24/23
"Banks Close 100s Of Branches And Layoff 1000s 
Of Workers As They Brace For Financial Meltdown"

"U.S. banks are closing a large number of branches right now, - another ominous sign of the financial meltdown that has started to unfold. They are also laying off workers by the thousands in preparation for the chaos that is ahead, according to new reports. Record-high interest rates and turmoil in the real estate industry are adding an enormous amount of pressure on the nation’s biggest financial institutions. Even big names like JPMorgan, Wells Fargo, and Goldman Sachs have reported major losses in recent months, and they know a much bigger crisis is approaching. That’s why banks are getting very tight with their money, reducing their brick-and-mortar footprint, and slashing their headcounts as they fear mass withdrawals and more failures could happen in the coming winter. Experts say these are the very early stages of another global financial crisis, and many fully expect conditions to get even worse from now on.

In the first seven days of October, banks closed a whopping 54 branches, leaving an increasing number of Americans without access to basic financial services. Bank of America shuttered 21 branches in the first week of October, according to a bulletin published by the Office of the Comptroller of the Currency (OCC) on Friday. Similarly, Wells Fargo eliminated 15 branches, while U.S. Bank and JPMorgan Chase reported closing nine and three respectively.

More recently, Santander and City Bank closed nearly 20 branches each. Over the past twelve months, U.S. banks shut down over 3,100 locations, according to S&P Global. From 2021 to 2022, they closed a net 2,927 branches, which represented a 38% increase from the prior year. Moreover, in the open branches, there are fewer staff members around as well. A fresh CNBC report exposed that the most popular banks in America are laying off staggering numbers of workers – and some of the deepest cuts are yet to come. The six largest U.S. banks have cut a combined 20,000 positions so far this year, according to company filings. “Banks are cutting costs where they can because things are really uncertain next year,” Chris Marinac, research director at Janney Montgomery Scott, noted.

The sharpest cuts have happened at Wells Fargo and Goldman Sachs, institutions that are wrestling with revenue declines in key businesses. They each have laid off roughly 5% of their workforce in the past 10 months. At Wells Fargo, job cuts started to rise after the bank announced a strategic shift away from the mortgage business. And although the bank cut 50,000 employees in the past three years as part of CEO Charlie Scharf’s cost-cutting plan, the firm isn’t done shrinking headcount, executives said Friday. There are “very few parts of the company” that will be spared from cuts, said CFO Mike Santomassimo.

All of these developments indicate that the banking industry is in serious trouble. And economic turbulence is likely to aggravate matters in the financial world during the final months of the year. U.S. banks have a lot to worry about right now, and we should definitely enjoy the relative stability that has prevented markets and institutions from collapsing up until this point. The truth is that conditions are getting increasingly unsustainable, and things will become extremely chaotic far sooner than most people imagine."
Comments here:

The Daily "Near You?"

Wichita Falls, Texas, USA. Thanks for stopping by!

"Evil Walks Among Us: Monsters with Human Faces Wreak Havoc on Our Freedoms"

"Evil Walks Among Us: Monsters with
Human Faces Wreak Havoc on Our Freedoms"
by John & Nisha Whitehead

“But these weren’t the kind of monsters that had tentacles and rotting skin, the kind a seven-year-old might be able to wrap his mind around - they were monsters with human faces, in crisp uniforms, marching in lockstep, so banal you don’t recognize them for what they are until it’s too late.” - Ransom Riggs, "Miss Peregrine’s Home for Peculiar Children"

"Enough already. Enough with the distractions. Enough with the partisan jousting. Enough with the sniping and name-calling and mud-slinging that do nothing to make this country safer or freer or more just. We have let the government’s evil-doing, its abuses, power grabs, brutality, meanness, inhumanity, immorality, greed, corruption, debauchery and tyranny go on for too long. We are approaching a reckoning.

This is the point, as the poet W. B. Yeats warned, when things fall apart and anarchy is loosed upon the world. We have seen this convergence before in Hitler’s Germany, in Stalin’s Russia, in Mussolini’s Italy, and in Mao’s China: the rise of strongmen and demagogues, the ascendency of profit-driven politics over deep-seated principles, the warring nationalism that seeks to divide and conquer, the callous disregard for basic human rights and dignity, and the silence of people who should know better. Yet no matter how many times the world has been down this road before, we can’t seem to avoid repeating the deadly mistakes of the past.

This is not just playing out on a national and international scale. It is wreaking havoc at the most immediate level, as well, creating rifts and polarities within families and friends, neighborhoods and communities that keep the populace warring among themselves and incapable of presenting a united front in the face of the government’s goose-stepping despotism.

We labor today under the weight of countless tyrannies, large and small, disguised as “the better good,” marketed as benevolence, enforced with armed police, and carried out by an elite class of government officials who are largely insulated from the ill effects of their actions.

For too long now, the American people have rationalized turning a blind eye to all manner of government wrongdoing - asset forfeiture schemes, corruption, surveillance, endless wars, SWAT team raids, militarized police, profit-driven private prisons, and so on - because they were the so-called lesser of two evils.

Yet the unavoidable truth is that the government - through its acts of power grabs, brutality, meanness, inhumanity, immorality, greed, corruption, debauchery and tyranny - has become almost indistinguishable from the evil it claims to be fighting, whether that evil takes the form of terrorism, torture, drug trafficking, sex trafficking, murder, violence, theft, pornography, scientific experimentations or some other diabolical means of inflicting pain, suffering and servitude on humanity.

At its core, this is not a debate about politics, or constitutionalism, or even tyranny disguised as law-and-order. This is a condemnation of the monsters with human faces who walk among us. Many of them work for the U.S. government.

This is the premise of John Carpenter’s film "They Live", which was released thirty-five years ago and remains unnervingly, chillingly appropriate for our modern age. Best known for his horror film Halloween, which assumes that there is a form of evil so dark that it can’t be killed, Carpenter’s larger body of work is infused with a strong anti-authoritarian, anti-establishment, laconic bent that speaks to the filmmaker’s concerns about the unraveling of our society, particularly our government. Time and again, Carpenter portrays the government working against its own citizens, a populace out of touch with reality, technology run amok, and a future more horrific than any horror film.

In "Escape from New York," Carpenter presents fascism as the future of America. In "The Thing" a remake of the 1951 sci-fi classic of the same name, Carpenter presupposes that increasingly we are all becoming dehumanized.

In "Christine" the film adaptation of Stephen King’s novel about a demon-possessed car, technology exhibits a will and consciousness of its own and goes on a murderous rampage. In In the "Mouth of Madness," Carpenter notes that evil grows when people lose “the ability to know the difference between reality and fantasy.”

And then there is Carpenter’s "They Live," in which two migrant workers discover that the world is not as it seems. In fact, the population is actually being controlled and exploited by aliens working in partnership with an oligarchic elite. All the while, the populace - blissfully unaware of the real agenda at work in their lives - has been lulled into complacency, indoctrinated into compliance, bombarded with media distractions, and hypnotized by subliminal messages beamed out of television and various electronic devices, billboards and the like.

It is only when homeless drifter John Nada (played to the hilt by the late Roddy Piper) discovers a pair of doctored sunglasses - Hoffman lenses - that Nada sees what lies beneath the elite’s fabricated reality: control and bondage. When viewed through the lens of truth, the elite, who appear human until stripped of their disguises, are shown to be monsters who have enslaved the citizenry in order to prey on them.

Likewise, billboards blare out hidden, authoritative messages: a bikini-clad woman in one ad is actually ordering viewers to “MARRY AND REPRODUCE.” Magazine racks scream “CONSUME” and “OBEY.” A wad of dollar bills in a vendor’s hand proclaims, “THIS IS YOUR GOD.” When viewed through Nada’s Hoffman lenses, some of the other hidden messages being drummed into the people’s subconscious include: NO INDEPENDENT THOUGHT, CONFORM, SUBMIT, STAY ASLEEP, BUY, WATCH TV, NO IMAGINATION, and DO NOT QUESTION AUTHORITY.

This indoctrination campaign engineered by the elite in "They Live" is painfully familiar to anyone who has studied the decline of American culture. A citizenry that does not think for themselves, obeys without question, is submissive, does not challenge authority, does not think outside the box, and is content to sit back and be entertained is a citizenry that can be easily controlled.

In this way, the subtle message of "They Live" provides an apt analogy of our own distorted vision of life in the American police state, what philosopher Slavoj Žižek refers to as dictatorship in democracy, “the invisible order which sustains your apparent freedom.”

Tune out the government’s attempts to distract, divert and befuddle us and tune into what’s really going on in this country, and you’ll run headlong into an unmistakable, unpalatable truth: what we are dealing with today is an authoritarian beast that has outgrown its chains and will not be restrained.

We’re being fed a series of carefully contrived fictions that bear no resemblance to reality. Despite the fact that we are 17,600 times more likely to die from heart disease than from a terrorist attack; 11,000 times more likely to die from an airplane accident than from a terrorist plot involving an airplane; 1,048 times more likely to die from a car accident than a terrorist attack, and 8 times more likely to be killed by a police officer than by a terrorist , we have handed over control of our lives to government officials who treat us as a means to an end—the source of money and power.

As the Bearded Man in "They Live" warns, “They are dismantling the sleeping middle class. More and more people are becoming poor. We are their cattle. We are being bred for slavery.” We have bought into the illusion and refused to grasp the truth. From the moment we are born until we die, we are indoctrinated into believing that those who rule us do it for our own good. The truth is far different.

The powers-that-be want us to feel threatened by forces beyond our control (terrorists, pandemics, mass shootings, etc.). They want us afraid and dependent on the government and its militarized armies for our safety and well-being. They want us distrustful of each other, divided by our prejudices, and at each other’s throats. We are little more than expendable resources to be used, abused and discarded.

In fact, a study conducted by Princeton and Northwestern University concluded that the U.S. government does not represent the majority of American citizens. Instead, the study found that the government is ruled by the rich and powerful, or the so-called “economic elite.” Moreover, the researchers concluded that policies enacted by this governmental elite nearly always favor special interests and lobbying groups.

In other words, we are being ruled by an oligarchy disguised as a democracy, and arguably on our way towards fascism - a form of government where private corporate interests rule, money calls the shots, and the people are seen as mere subjects to be controlled.

Rest assured that when and if fascism finally takes hold in America, the basic forms of government will remain: Fascism will appear to be friendly. The legislators will be in session. There will be elections, and the news media will continue to cover the entertainment and political trivia. Consent of the governed, however, will no longer apply. Actual control will have finally passed to the oligarchic elite controlling the government behind the scenes.

Sound familiar? Clearly, we are now ruled by an oligarchic elite of governmental and corporate interests. We have moved into “corporatism” (favored by Benito Mussolini), which is a halfway point on the road to full-blown fascism.

Corporatism is where the few moneyed interests - not elected by the citizenry - rule over the many. In this way, it is not a democracy or a republican form of government, which is what the American government was established to be. It is a top-down form of government and one which has a terrifying history typified by the developments that occurred in totalitarian regimes of the past: police states where everyone is watched and spied on, rounded up for minor infractions by government agents, placed under police control, and placed in detention (a.k.a. concentration) camps.

For the final hammer of fascism to fall, it will require the most crucial ingredient: the majority of the people will have to agree that it’s not only expedient but necessary. But why would a people agree to such an oppressive regime? The answer is the same in every age: fear. Fear makes people stupid.

Fear is the method most often used by politicians to increase the power of government. And, as most social commentators recognize, an atmosphere of fear permeates modern America: fear of terrorism, fear of the police, fear of our neighbors and so on. The propaganda of fear has been used quite effectively by those who want to gain control, and it is transforming the populace into fearful, compliant, pacified zombies content to march in lockstep with the government’s dictates.

This brings me back to "They Live," in which the real zombies are not the aliens calling the shots but the populace who are content to remain controlled. When all is said and done, the world of They Live is not so different from our own. As one of the characters points out, “The poor and the underclass are growing. Racial justice and human rights are nonexistent. They have created a repressive society, and we are their unwitting accomplices. Their intention to rule rests with the annihilation of consciousness. We have been lulled into a trance. They have made us indifferent to ourselves, to others. We are focused only on our own gain.”

We, too, are focused only on our own pleasures, prejudices and gains. Our poor and underclasses are also growing. Injustice is growing. Inequality is growing. A concern for human rights is nearly nonexistent. We too have been lulled into a trance, indifferent to others. Oblivious to what lies ahead, we’ve been manipulated into believing that if we continue to consume, obey, and have faith, things will work out. But that’s never been true of emerging regimes. And by the time we feel the hammer coming down upon us, it will be too late.

So where does that leave us? The characters who populate Carpenter’s films provide some insight. Underneath their machismo, they still believe in the ideals of liberty and equal opportunity. Their beliefs place them in constant opposition with the law and the establishment, but they are nonetheless freedom fighters.

When, for example, John Nada destroys the alien hypno-transmitter in "They Live" he delivers a wake-up call for freedom. As Nada memorably declares, “I have come here to chew bubblegum and kick ass. And I’m all out of bubblegum.” In other words: we need to get active and take a stand for what’s really important. Stop allowing yourselves to be easily distracted by pointless political spectacles and pay attention to what’s really going on in the country.

As I make clear in my book "Battlefield America: The War on the American People" and in its fictional counterpart "The Erik Blair Diaries," the real battle for control of this nation is taking place on roadsides, in police cars, on witness stands, over phone lines, in government offices, in corporate offices, in public school hallways and classrooms, in parks and city council meetings, and in towns and cities across this country.

All the trappings of the American police state are now in plain sight. Wake up, America. If they live (the tyrants, the oppressors, the invaders, the overlords), it is only because “we the people” sleep."

"I Know Why You Did It..."

"There are of course those who do not want us to speak. I suspect even now, orders are being shouted into telephones, and men with guns will soon be on their way. Why? Because while the truncheon may be used in lieu of conversation, words will always retain their power. Words offer the means to meaning, and for those who will listen, the enunciation of truth. And the truth is, there is something terribly wrong with this country, isn't there? Cruelty and injustice, intolerance and oppression. And where once you had the freedom to object, to think and speak as you saw fit, you now have censors and systems of surveillance coercing your conformity and soliciting your submission.

How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror. I know why you did it. I know you were afraid. Who wouldn't be? War, terror, disease. There were a myriad of problems which conspired to corrupt your reason and rob you of your common sense. Fear got the best of you, and in your panic you turned to the government. They promised you order, they promised you peace, and all they demanded in return was your silent, obedient consent."
- "V For Vendetta", slightly modified.

Bill Bonner, "Cometh the Flood"

"Cometh the Flood"
The heavens open up, a lost decade for 
bonds and what comes after the US dollar?
by Bill Bonner and Joel Bowman

"Apres nous, le deluge."
~ Louis XIV to Madame de Pompadour

Youghal, Ireland - "What a downpour! “I’ve never seen so much rain,” said Pat, a neighbor. At least, that’s what we think he said. Pat is from across the river. The local patois is different. It is English, but it sounds like gutter Gaelic. We called Pat in desperation. Water was running down the hill – torrents of it. It ran right into our guest cottage. The firewood, which had been neatly stacked next to the doorway, floated on a foot of water when we went in. “The mainstreet of Midleton is under water,” Pat went on. “The whole city is closed to traffic.”

The Heavens Opened: We bailed out the house as best we could, scooping up the water with a bucket and a dustpan…and then mopping up the remainder. It took all day on Saturday. Fortunately, it has a stone floor…and little furniture with no upholstery or carpets. No one lives there. But we needed to dig a ditch that would divert the flood down the hill without passing through our cottage. Pat has a backhoe. You’d think a country such as Ireland would be better prepared for rain. But roads were washed out…houses flooded…business halted.

“We’re used to a gentle rain. It rained almost every day in the summer,” Pat observed. “But we’re not used to such heavy rain. The ground was saturated by September. Now, it just runs off and causes a lot of damage.” By Sunday, things were under control – or so we thought. Then, on Monday, the heavens opened up…a “real frog strangler” as they say in Maryland. Or, as Damien would put it, “il pisse des cordes.” (No translation needed.)
After mopping up.
The Financial Climate: In came the water again. We were only partly ready for it. We’d installed a sump pump in a low area, but the water was now coming in the house from a new direction. “It’s global warming,” Pat provided a scientific analysis. “The sea heats up and gives off more vapor. It falls on us.” Maybe. Maybe not.

Meanwhile, we turn our attention back to that critical moment three years ago. In July, in the midst of the Great Covid Panic, 2020, bond yields bottomed out. Thence began a change in the financial climate. It started to rain. The bigger the delusion…the bigger the debacle that follows.

In this case, the authorities seemed to think that by lending fake money at fake interest rates they could engender a real boom. First, Alan Greenspan gave out his famous “Greenspan Put”…practically guaranteeing to lower interest rates if ever equity values were threatened.

And then, in the War on Terror, the Fed did its patriotic duty with a cut of 500 basis points (5%) of its key lending rate. It was a mistake…but not nearly as bad a mistake as the Fed would make in response to the mortgage finance crisis of 2008. Ben Bernanke cut rates again, of course…but this time the Fed cut them to ‘effectively zero.’ And there…with the lending rate lower than inflation…it pinned them there for the most part of the next 14 years.

A Lost Decade for Bonds: In the fall of 2020, it looked like we were seeing the turnaround. Finally, with the Fed still lending below the inflation rate, bonds began to sink (with rising yields). After the biggest, longest drop in bond yields ever—supported by delusions that were obviously rank nonsense – the next phase was sure to be (we resorted to the technical term) a ‘doozy.”

And so it was. Bond prices fell like rain on Noah. The next three years turned out to be the worst bear market flood in bond history. Here’s Charlie Bilello: "It’s been a lost decade for holders of long-term bonds ($TLT ETF), with a decline of 1% over the last 10 years. The 10-Year Treasury bond is down 5% this year, on pace for its 3rd consecutive annual decline. With data going back to 1928, that’s never happened before. The worst 3-year period for bonds prior to now was 1978-1980 with a 3% loss for the 10-Year. What’s the 2021-23 cumulative decline? -26%.

That is what a change in the Primary Trend does. It turns the bets made during the previous cycle into bad ones. ‘Buy the dip?’ Doesn’t work. A ‘balanced portfolio of stocks and bonds?’ Good luck. Look at the stock market. Over 36,000 at the end of 2021, it now struggles to stay over 33,000…as inflation continues to eat away at real values. This year, the S&P is down 2%. Small caps have lost about twice as much."

What will happen next? We don’t know…but we’d keep the waders handy. Stay tuned."
o
Joel’s Note: Yesterday in this space we brought you the latest, post-election news from down here in Argentina. Essentially, the economy is still broken, the political scene is still a mess and the local currency, the peso, is hardly worth the paper it’s printed on. Status quo ante.

With somewhere close to 200% annual inflation, Argentina serves as a cautionary tale for other nations keen on printing their way to prosperity. Of the two remaining presidential candidates (the country will decide its leader in a second round ballotage here on Nov. 19), one has proposed dollarization as a way to snuff out rampant inflation. Which got the BPR team thinking...

Though still a long way from Argentina’s dire situation, the United States is working overtime to thrash its own greenback to death. $33.5 trillion in national debt... multi-trillion dollar deficits as far as the eye can see... funding for two wars, with another potentially on the way... and confidence in US government paper in the worst shape it’s been in living memory...

Eventually, one is tempted to ask: Where does the last buck stop? If there was suddenly a run on the dollar... if inflation north of the Rio Grande began to resemble that here on the Pampas... what might replace the once-mighty greenback?"

"Peter Schiff: This Is The Most Obvious Financial Crisis That Nobody Sees Coming"

"Peter Schiff: This Is The Most Obvious
 Financial Crisis That Nobody Sees Coming"
By SchiffGold.com.

"The mainstream continues to insist that the economy is fine. Inflation is beat. A soft landing is in play. But in his podcast, Peter Schiff said we’re in the early stages of a financial crisis. It should be obvious, but very few people see it coming. Peter emphasized that we are already in the midst of a financial crisis. Now, this is, of course, the early stages of that financial crisis. It is unfolding before your eyes if you’re awake or smart enough to recognize what you see. But it is going to get a lot worse.”
Peter said that at some point, people are going to recognize that we’re in a financial crisis, but they’re not going to realize why. "They’re all going to be just as blindsided by this financial crisis as they were by the much smaller financial crisis in 2008 that also took them by complete surprise.”

During the 2008 meltdown, the mainstream described it as a “100-year flood” — a “black swan” that nobody could have foreseen. "Which of course was a bunch of BS, because a number of people, myself included, not only saw it in advance, but spent years warning about it.”

Peter said the evolution of this crisis is just as clear. "This is the most obvious financial crisis that nobody sees coming. I mean, this isn’t even a black swan. This isn’t even a white swan. This is like a pigeon. They’re everywhere. This is a very common bird that is not coming out of left field. It’s right there. But Wall Street has a big vested interest in ignoring this. And so do a lot of people on Main Street, so does academia, the financial media, the government. Nobody wants to acknowledge this until of course it already happens. Then they have to figure out who the scapegoat is.”

One thing is pretty certain. Nobody will blame the party most responsible – the government. "They never look back and reflect on the government’s role in creating the crisis. No, no, no! They’re too busy pointing fingers at somebody in the private sector and holding out government as the salvation. ‘We just need more government! If we only had more regulations then this wouldn’t have happened.’ No. It happened because we had too many regulations. What we need is free market regulations.”

Government regulations sabotage the free market regulations that actually do work. We can see the financial system unwinding in the bond market. Long-term bond yields continued to rise last week. Peter called the bond selloff “relentless.” On Friday, the yield on a 30-year Treasury rose above 5.1%. The yield on the 10-year also briefly eclipsed 5%.

The yield curve is basically flat around 5%, but Peter said it isn’t going to stay flat. "It’s going to steepen. I expect long-term interest rates to continue the March upward, and we should put more distance between a 90-day, 6-month bill and a 10 to 30-year Treasury bond, especially the 30-year bond. That one is going to take the biggest hit.” Peter said as the curve normalizes, the short end could rise toward 6% with the long end pushing into the 7 or 8 percent range – minimum.

The question is will the Federal Reserve allow it? "Will the financial markets, will the banking sector, will the economy, will the government be able to withstand that increase? So far, it seems like, OK, we’re surviving 5%. Although, I don’t really think we are. I think the numbers belly the problems that underlie the economy.”

For instance, the Index of Leading Economic Indicators fell for the 16th straight month in September, dropping another 0.7%. The Conference Board also revised the August number lower. "That’s pretty rare. You have to go back to 2007-2008, which was the Great Recession — the worst recession since the Great Depression of the 1930s. You’ve got to go back there to find a string of negative leading economic indicators that’s longer than the 16 months we’ve got now.” This indicates that the economy is a lot weaker than the “experts” keep telling us. If the economy is so strong, how can these ‘leading’ economic indicators be so weak?

Meanwhile, we have record credit card debt along with record credit card interest rates. The “unsinkable” American consumer is drowning in debt. Financial sector stocks are getting beaten up. American Express was down 5.4%. Peter pointed out that these banks and financial companies are just reporting the early stages of problems.

"But anybody who was loaning out money during the bubble is going to have a problem getting the money back as the bubble deflates, so, this is just the tip of a big iceberg for American Express, Visa, Mastercard, Discover, all these credit card companies.” And if consumers can’t borrow - they can’t buy.

There are also continuing signs of stress in the banking sector. Banks continue to tap into the bailout program set up after the collapse of Silicon Valley Bank and Signature Bank. There is also growing concern about pressure in the banking system created by the commercial real estate market. Things are still simmering under the surface, but it’s only a matter of time before the situation erupts.

In this podcast, Peter also talked about Jerome Powell’s speech at the Economic Club. He said Powell isn’t qualified to be a member."

'How It Really Should Be"

 

Col. Douglas Macgregor, "We Are Moving Towards Armageddon"

Col. Douglas Macgregor, Straight Calls AM 10/24/23
"We Are Moving Towards Armageddon"
"Analysis of breaking news and in-depth discussion of current 
geopolitical events in the United States of America and the world."
Comments here:
o
Col. Douglas Macgregor, Straight Calls PM 10/24/23
"Last Hope Destroyed! 
What's Happening In the Middle East is Shocking"
"Analysis of breaking news and in-depth discussion of current 
geopolitical events in the United States of America and the world."
Comments here:

Dan, I Allegedly, "AM/PM 10/24/23"

Full screen recommended.
Dan, I Allegedly, AM 10/24/23
"Get Ready to Pay Per Mile"
"Is it fair for 17 states to charge you a highway use fee per mile? In today's video, we discuss this controversial topic and explore how these fees could impact the average driver. We also touch on fuel-efficient cars, EVs, and the real estate market. It’s called a highway use fee. It’s insane."
Comments here:
o
Full screen recommended.
Dan, I Allegedly PM 10/24/23
"She Faked Cancer to Get Your Money"
"We have all have known someone that has been sick. Could you imagine someone that faked a cancer diagnosis just to get sympathy and your money? That is the lowest level of depravity. Plus, we cover the Alaska airlines pilot that tried to take out 83 people."
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"Gregory Mannarino, AM/PM 10/24/23"

"It's a Big Club, and you ain't in it. 
You and I are not in the Big Club."
- George Carlin
o
Gregory Mannarino, AM 10/24/23
"Alert! Expect Bond Market Instability To Get Much Worse. 
Liquidity Crisis Also Worsening"
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Gregory Mannarino, PM 10/24/23
"Credit Defaults SURGE As Liquidity Crisis Worsens!"
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"Walmart Sends Warning That HUGE Price Increases Are Coming At The End Of 2023"

Full screen recommended.
The Atlantis Report, AM 10/24/23
"Walmart Sends Warning That HUGE Price
 Increases Are Coming At The End Of 2023"
"As we approach the end of 2023, a stark warning looms over the American retail landscape. Walmart, one of the nation's retail giants, is sounding the alarm bells as it anticipates significant price increases in the months ahead. Walmart CFO John David Rainey has issued a warning that prices are going to keep going up, especially as we approach the end of the year. He said, “We’re assuming that this year is going to be somewhat anomalous… Still feeling the effects of higher prices.” In this climate of uncertainty and mounting financial pressures, Walmart's cautionary note serves as a stark reminder that the economic challenges of 2023 are far from over."
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"Adventures With Danno, 10/24/23"

Full screen recommended.
Adventures With Danno, 10/24/23
"Stocking Up At Meijer! 
Produce, Meat, Cheese, Canned Goods & Coffee!"
"In today's vlog, we are at Meijer and are stocking up on some of the good deals on meat, produce, canned goods, and coffee! We take you grocery shopping with us as we try to find the best sales on groceries. It's getting rough out here as prices continue to soar in supermarkets all around the country!"
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Monday, October 23, 2023

"When The Credit Cards Get Shut Off The Trouble Begins - Who Is Making The Payments?"

Jeremiah Babe, 10/23/23
"When The Credit Cards Get Shut Off 
The Trouble Begins - Who Is Making The Payments?"
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Musical Interlude: Yanni, "To The One Who Knows"

Full screen recommended.
Yanni, "To The One Who Knows"

"A Look to the Heavens"

“This colorful skyscape features the dusty, reddish glow of Sharpless catalog emission region Sh2-155, the Cave Nebula. About 2,400 light-years away, the scene lies along the plane of our Milky Way Galaxy toward the royal northern constellation of Cepheus.
Astronomical explorations of the region reveal that it has formed at the boundary of the massive Cepheus B molecular cloud and the hot, young, blue stars of the Cepheus OB 3 association. The bright rim of ionized hydrogen gas is energized by the radiation from the hot stars, dominated by the bright blue O-type star above picture center. Radiation driven ionization fronts are likely triggering collapsing cores and new star formation within. Appropriately sized for a stellar nursery, the cosmic cave is over 10 light-years across.”

"Assumptions..."

 

"Luddites Were Right, You Know…

"Luddites Were Right, You Know…"
By Chris Black

"The term “Luddite” originated in the early 19th century and refers to a movement of English textile workers who protested against the increased use of machines in their industry. The term “neo-Luddite” was later applied to those who similarly oppose technology for similar reasons, but in a contemporary context.

Everywhere you go, you see people with their faces in their phones. Constantly, constantly, constantly. At the bus stop. On the train. In the driver’s seats of their moving cars. Their kid makes a bit of noise at the restaurant table? Shove the iPad in their face.

Boomerisms aside, it really can’t be overstated how f**ked up this is, and not because “people don’t interact” anymore. It’s actually much worse than that… Nobody ever allows themselves even a moment of peace inside their own heads. The real insidiousness of the smartphone is that it encourages you to constantly consume content, endlessly, never ever stopping. It’s common for people to spend their entire day with earphones in, listening to podcasts and watching Tiktoks literally constantly.

Our brains did not evolve to be bombarded with constant microbursts of hyper real stimulation this way. Attention spans are getting measurably shorter. Reaction times are getting longer. None of this sh*t is good for your brain.

Everyone always says, “Well, what about TV and the radio?” Inherently limited and fundamentally different because of the fact that they’re pre-programmed and don’t act as “magic mirrors” of you and your personal inputs into them. Your smartphone is designed to learn everything about you so that it can be as addictive as possible and maximize the amount of data it squeezes out of you. Nothing about TV or the radio - or even Web 1.0 internet - ever came anywhere close to this.

Even so, we have known for decades that TV is horrible for your brain on account of many of the same mechanisms that affect attention span and cognitive development. So imagine how much worse the smartphone is. Unfathomably worse. We already know it’s worse, but we won’t know exactly how much worse it is until at least another decade, when the younger Zoomers and Gen Alphas are a few years into adulthood after an upbringing that revolved around Web 2.0.

Millennials were lucky enough not to take the full brunt of the experience. We got our first taste as we came of age instead of growing up being marinated in it. The saddest part is that the only reason any of this even caught on or is the least bit operable is because of the fact that it hijacks the mechanisms that make us feel satisfied and good. We didn’t evolve to handle this level of stimulation, but BOY do we respond to it. It’s so excessive that it’s impossible for some people to resist. So there are no f**king brakes.

You have to cast The Ring into the fire or it totally consumes you. That’s the reality for most people. And that, my friends, is just sick.

Look at your screen usage on your phone and tell me I’m wrong, how you totally don’t need it and can stop whenever you want. You are no better than a crack head, and you won’t realize that until you actually do try to stop for real. It’s unprecedented in human history to think this way. We are truly in uncharted waters here. Just wait until the sensory overload most people are bathing in all day, every day becomes fully automated instead of just partially automated like it is now."
o

"Acceptance..."

"Acceptance is a crucial step forward for those who prefer the idea of living this life over simply existing within it. Accept all that you've said and what you've done, because you cannot change your past. Accept the idea of the unknown, because the future is the unknown waiting patiently to reveal itself. Accept the person you have become thus far in your journey, because you are the only person who will be there with you when you finish it. Do all of this so that you may never find yourself having to accept regret that haunts you at two a.m., leaving you sweaty and broken hearted. All you have is this minute; not this hour, or this day, or this year. Live in this minute so that you won't get stuck simply existing with your guilty past, or with nothing but anxiety for the future."
- Margaret E. Rise

Jeff Thomas, "Trapping Wild Pigs"

"Trapping Wild Pigs"
by Jeff Thomas

"Most of us would like to assume that we’re smarter than pigs, but are we? Let’s have a look. Pigs are pretty intelligent mammals, and forest-dwelling wild pigs are known to be especially wily. However, there’s a traditional method for trapping them. First, find a small clearing in the forest and put some corn on the ground. After you leave, the pigs will find it. They’ll also return the next day to see if there’s more.

Replace the corn every day. Once they’ve become dependent on the free food, erect a section of fence down one side of the clearing. When they get used to the fence, they’ll begin to eat the corn again. Then you erect another side of the fence.Continue until you have all four sides of the fence up, with a gate in the final side. Then, when the pigs enter the pen to feed, you close the gate.

At first, the pigs will run around, trying to escape. But if you toss in more corn, they’ll eventually calm down and go back to eating. You can then smile at the herd of pigs you’ve caught and say to yourself that this is why humans are smarter than pigs. But unfortunately, that’s not always so. In fact, the description above is the essence of trapping humans into collectivism.

Collectivism begins when a government starts offering free stuff to the population. At first, it’s something simple like free education or food stamps for the poor. But soon, political leaders talk increasingly of "entitlements" – a wonderful concept that by its very name suggests that this is something that’s owed to you, and if other politicians don’t support the idea, then they’re denying you your rights.

Once the idea of free stuff has become the norm and, more importantly, when the populace has come to depend upon it as a significant part of their "diet," more free stuff is offered. It matters little whether the new entitlements are welfare, healthcare, free college, or a guaranteed basic wage. What’s important is that the herd come to rely on the entitlements. Then, it’s time to erect the fence.

Naturally, in order to expand the volume of free stuff, greater taxation will be required. And of course, some rights will have to be sacrificed. And just like the pigs, all that’s really necessary to get humans to comply is to make the increase in fencing gradual. People focus more on the corn than the fence. Once they’re substantially dependent, it’s time to shut the gate.

What this looks like in collectivism is that new restrictions come into play that restrict freedoms. You may be told that you cannot expatriate without paying a large penalty. You may be told that your bank deposit may be confiscated in an emergency situation. You may even be told that the government has the right to deny you the freedom to congregate, or even to go to work, for whatever trumped-up reason.

And of course, that’s the point at which the pigs run around, hoping to escape the new restrictions. But more entitlements are offered, and in the end, the entitlements are accepted as being more valuable than the freedom of self-determination.

Even at this point, most people will remain compliant. But there’s a final stage: The corn ration is "temporarily" cut due to fiscal problems. Then it’s cut again… and again. The freedoms are gone for good and the entitlements are then slowly removed. This is how it’s possible to begin with a very prosperous country, such as Argentina, Venezuela or the US, and convert it into an impoverished collectivist state. It’s a gradual process and the pattern plays out the same way time and again. It succeeds because human nature remains the same. Collectivism eventually degrades into uniform poverty for 95% of the population, with a small elite who live like kings.

After World War II, the Western world was flying high. There was tremendous prosperity and opportunity for everyone. The system was not totally free market, but enough so that anyone who wished to work hard and take responsibility for himself had the opportunity to prosper. But very early – in the 1960s – The Great Society became the byword for government-provided largesse for all those who were in need – free stuff for those who were disadvantaged in one way or another.

Most Americans, who were then flush with prosperity, were only too happy to share with those who were less fortunate. Unfortunately, they got suckered into the idea that, rather than give voluntarily on an individual basis, they’d entrust their government to become the distributor of largesse, and to pay for it through taxation. Big mistake. From that point on, all that was necessary was to keep redefining who was disadvantaged and to then provide more free stuff.

Few people were aware that the first sections of fence were being erected. But today, it may be easier to understand that the fence has been completed and the gate is closing. It may still be possible to make a hasty exit, but we shall find very few people dashing for the gate. After all, to expatriate to another country would mean leaving all that free stuff – all that security.

At this point, the idea of foraging in the forest looks doubtful. Those who have forgotten how to rely on themselves will understandably fear making an exit. They’ll not only have to change their dependency habits; they’ll have to think for themselves in future. But make no mistake about it – what we’re witnessing today in what was formerly the Free World is a transition into collectivism. It will be a combination of corporatism and socialism, with the remnants of capitalism. The overall will be collectivism.

The gate is closing, and as stated above, some members of the herd will cause a fuss as they watch the gate closing. There will be some confusion and civil unrest, but in the end, the great majority will settle down once again to their corn. Only a few will have both the insight and temerity necessary to make a dash for the gate as it’s now closing.

This was true in Argentina when the government was still generous with the largesse, and it was true in Venezuela when the entitlements were at their peak. It is now true of the US as the final transition into collectivism begins. Rather than make the dash for the gate, the great majority will instead look down at their feed and say, "This is still the best country in the world," and continue eating the corn."

The Daily "Near You?"

Burney, California, USA. Thanks for stopping by!

"World War III Update 10/23/23"

Full screen recommended.
Firstpost, 10/23/23
"Israel Raids Gaza as Full-Blown Invasion Looms "
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Colonel Douglas Macgregor, Straight Calls 10/23/23
"Updates: Israel - Gaza; Russia - Ukraine"
"Analysis of breaking news and in-depth discussion of current
 geopolitical events in the United States of America and the world."
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Judge Napolitano - Judging Freedom, 10/23/23
"Ray McGovern: Blinken Goes Berserk"
"Blinken dons mantel of legendary ‘invulnerable’ warrior Berserk, binding US to Israelis' offensive plans for Gaza. To Face the Nation: No ceasefire; No bombing pause. US “is focused on how best to achieve the results that they seek in military operations”.
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o
"Impending Doom: 22 Devastating Consequences That 
Will Happen If Israel Launches Full Assault Against Gaza"

"As Israel stands ready to launch an all-out ground assault on Gaza, the nations of China, Russia and Iran are readying a mutual military defense. By attacking Gaza, Israel will set off a series of events that will almost certainly lead to Israel firing nuclear weapons first, followed by nuclear retaliations from Iran and Russia, likely destroying Israel as we know it today.

Meanwhile, US aircraft carriers - currently "sitting ducks" - may be struck by nuclear hypersonic missiles, destroying them outright. This chain reaction will then lead to the collapse of the dollar and the fall of the US empire. Force majeure will be in effect everywhere as global supply chains collapse and global famine accelerates. And yet, amazingly, far too many people in America are falling for the current psyop and begging for their own destruction. Today's Brighteon Broadcast News episode explains exactly why."
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Dan, I Allegedly, "What Do You Want To Call It?"

Full screen recommended.
Dan, I Allegedly AM 10/23/23
"What Do You Want To Call It?"
"Economic downturn, recession, or the next depression? What do you want to call the state that our economy is in right now? I believe that we are in a recession right now and we’re only going to go deeper into a Depression."
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o
Full screen recommended.
Dan, I Allegedly PM 10/23/23
"The Repo Man is Coming for You"
"The subprime auto market is completely upside down. We have the highest percentage of people that are 60 days behind on their auto payments. These cars will be out for repossession soon."
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Free Download: Jack London, "The Iron Heel"

"I know nothing that I may say can influence you. You have no souls to be influenced. You are spineless, flaccid things. You pompously call yourselves Republicans and Democrats. You are lick-spittlers and panderers, the creatures of the Plutocracy." 
- Jack London
Freely download "The Iron Heel", by Jack London, here:

Read online The Project Gutenberg eBook 
of "The Iron Heel", by Jack London, here:

"How It Really Is"

Yeah, Joe, the right track straight to Hell...
"That's why they call it the American Dream.
Because you have to be asleep to believe it."
- George Carlin