There is a classic denial tactic that many people use when confronted with negative facts about a subject they have a personal attachment to; I would call it “deferral denial” — or a psychological postponing of reality
For example, point out the fundamentals on the U.S. economy such as the fact that unemployment is not below 4% as official numbers suggest, but actually closer to 20% when you factor in U-6 measurements including the record 96 million people not counted because they have run out of unemployment benefits. Or point out that true consumer inflation in the U.S. is not around 3% as the Federal Reserve and the Bureau of Labor Statistics claims, but closer to 10% according to the way CPI used to be calculated before the government started rigging the numbers. For a large part of the public including a lot of economic analysts, there is perhaps a momentary acceptance of the danger, but then an immediate deferral — “Well, maybe things will get worse down the road, 10 or 20 years from now, but it’s not that bad today…”
Read more at:America’s Debt Dependence Makes It An Easy Economic Target
A California judge has ruled that social media giant Twitter can be sued for falsely advertising free speech. The judge said that Twitter’s policy of banning users “at any time, for any reason or for no reason” may constitute an “unconscionable contract” for a company which advertises free speech.
The judge rejected Twitter’s motion to dismiss the lawsuit from Jared Taylor, who was banned by the platform in December last year, according to Breitbart. Taylor, a self-described “white activist” may proceed with his lawsuit against Twitter because the social media company falsely advertises free speech, yet bans users for “any or no reason.” The judge also ruled that Twitter could be sued on the basis of misleading its users, due to the platform’s promise not to ban accounts on the basis of viewpoint or political affiliation, which is frequently violated.
Read more at: CA Judge: Twitter Can Be Sued For Falsely Advertising They Allow Free Speech
There has been a longstanding narrative in economic circles that no matter what crisis occurs the U.S. dollar is essentially invincible. I have never been one to buy into this assumption.
Reason 1: Because I remember distinctly just before the derivatives and credit crisis in 2007/2008 the majority of mainstream economists were so certain that U.S. housing and debt markets were invincible, and they were terribly wrong. Whenever the mainstream financial media are confident of an outcome, expect the opposite to happen.
Reason 2: Because karma has a way of crushing grand illusions. When you proudly declare a Titanic “unsinkable,” nature or fate often tests that resolve and finds it wanting.
Reason 3: Because I understand that a primary goal of the internationalist, globalist, anti-sovereignty and New World Order crowd is to diminish U.S. economic performance dramatically, and this includes ending the reserve status and petro-status of the dollar in order to make way for a single global currency unit dictated by a single global economic administrator.
Read more at:America Loses When The Trade War Becomes A Currency War
- The bubbles in assets are supported by the invisible bubble in greed, euphoria and credulity.
- Well, folks, here we go again: we have a double-bubble economy in housing and stocks, and a third difficult-to-chart bubble in greed, euphoria and credulity.
- Feast your eyes on Housing Bubble #2, a.k.a. the Echo Bubble:
Here’s the S&P 500 stock index (SPX): no bubble here, we’re told, just a typical 9-year long Bull Market that has soared from a low in 2009 of 666 to a recent high of 2802 in January of this year:
Here’s a view of the same bubble in the Dow Jones Industrial Average (DJIA):
Read more at:Here We Go Again: Our Double-Bubble Economy
- While Trump was quick to take a victory lap after signing a non-binding letter (of intent) with North Korea’s leader Kim Jong Un to implement the dunclearization of North Korea, several questions have emerged among which:
- the lack of deal enforcement
- the lack of verifiability of N.Korea’s denuclearization efforts as part of the “Complete, Verifiable, Irreversible Denuclearization” or CVID protocol
- the legitimization of North Korea’s regime
- China’s role in the process
- the end of joint military drills with South Korea.
- While Trump’s response to most critics was that the process is just starting and that it will take time to denuclearize, where Trump will see the greatest amount of pushback is on the last bullet point. Speaking in an interview with George Stephanopoulos shortly after the one-on-one with Kim, when asked if there was talk of pulling U.S. troops out of South Korea, Trump said the topic didn’t come up, however he said the following:
- “We didn’t discuss that, no. We’re not going to play the war games… I thought they were very provocative. I also they’re also very expensive.”
Read more at:Trump Suspends Joint “War Games” With South Korea, As China Emerges Big Summit Winner
Ultimately, all doomed ruling elites face the same problem: there isn’t enough money to fund their take and fuel the vast machinery of power.
The politics of the U.S. boils down to one sustained pretense: politicians win votes by promising to fix problems that are the direct result of our bloated, corrupt, unsustainable Status Quo, yet they fund their campaigns by promising insiders and self-serving elites that they won’t touch their Status Quo gravy trains, power and privilege.
This is of course the politics of collapse: by protecting the entrenched, self-serving elites at the top of the wealth-power pyramid, including the political class itself, the political class is condemning the Status Quo to systemic implosion.
The political class is the handmaiden of a Status Quo that is doing everything in its formidable power to fend off any change that threatens its privileged-insiders-plunder. In effect, the political class is doing what’s it been paid (via tens of millions of dollars in campaign contributions) to do: protect the Status Quo by any and all means available.
Read more at:The Politics of Pretense: The Status Quo Is the Problem, But It Can’t Be Touched
We’re going to get a synchronized global dynamic, but it won’t be “growth” and stability, it will be DeGrowth and instability.
To understand the synchronized global meltdown that is on tap for the 2021-2025 period, we must first stipulate the relationship of “money” to energy: “money” is nothing more than a claim on future energy. If there’s no energy available to fuel the global economy, “money” will have little value.
The conventional economists assure us that energy is now a small part of the overall economy, so fluctuations in energy prices will have a limited effect on global prosperity. But what’s left of global prosperity when energy is unable to meet current demand at any price that consumers can afford?
The current “economic understanding” of energy and “money” is an artifact of a unique period of cheap, abundant fossil fuels. It is an article of faith in economics that energy will always become cheaper and more abundant as the pixie-dust of technology is irreversible. By the time fossil fuels become scarce many decades hence, we’ll all have cold-fusion generators, or micro-nuclear power plants or nearly free electricity from solar panels, and so on.
Read more at:The Three Crises That Will Synchronize a Global Meltdown by 2025