Saturday, July 4, 2020

Democrats Prefer to Kill the Economy Than Re-elect Trump.

No commentary needed.

We've Already Spent $7+ Trillion on Black 'Reparations' -- It Failed

The 99% idiot "Black Caucus" in the House of Representatives is going to take advantage of our current social chaos to divert (waste) even more money to blacks for "reparations." More "march of the morons" since we'd be paying people who were never slaves by people who never owned slaves!

The reality is that we've already spent at least $7+ Trillions in black "reparations" in the past 56 years and it didn't work.

Lyndon Johnson launched his "war on poverty"in January 1964 in an effort to reduce poverty in this country. He sold it as a temporary support to blacks to give them a leg up.  After $21 Trillion in expenditures and a vastly increased cost of permanent government bureaucracies, it hasn't worked. In fact, it has done much more harm than good.

At least 30% of this $21 Trillion, or $7 Trillion, was spent on the Black population in a very real attempt at "reparations."   (See my post Blacks, Hispanics and Illegals Dominate Welfare Spending.)  It was also the beginning of "free stuff" for blacks to keep them voting for Democrats. There's TANF, Section 8 housing, Food stamps, Medicaid, AFDC, Head Start, hiring quotas, set-asides, sharply lowered standards in police and fire departments. Sharply lowered standards for college and grad school admissions. "Free money" student loans that will never be repaid. We have free breakfasts for black children and even free lunches.

Taken together, US Blacks live in a state of "Custodial Care" by Whites because they can't take care of themselves.

Nothing has worked. Nothing ever will. This money is paid to the most unworthy people in the world -- by the most worthy people in the world.  Until people take responsibility for themselves and their own families and communities, nothing will ever work.

All this because our society cannot admit that black intelligence is too low, they hold too many bad ideas, have little logic and black criminality is far too high to support any kind of higher level of civilization

But what's worse is that all this money and it's perverse incentives (to break up marriages) has WORSENED Black life in America since 1964 and we can't admit THAT either!

Since the start of the war on poverty, black kids are NOT doing better in school, housing projects built for ghetto blacks are all slums (a complete lack of personal responsibility), and drug violence, gun violence, incarcerations, STD infections and black abortions remain at epidemic levels.  Black high school completion rates are about the same as ever, ie., ~50%.

Black culture is actually much worse now.  Black culture is in virtual collapse with 72% of black babies born without a father in the house. Compare this to only 25% when the "war on poverty" was started.  I can't think of a single more devastating statistic to describe a cultural collapse than the 72% figure; indicating that the institution of marriage has collapsed.  Single parent families are nearly all in a state of poverty. That's where we are after 56 years of "reparations."

"Reparations" has help cause a complete and utter Black cultural collapse.

The result of the cultural collapse is evident from appalling crime statistics, the fact that 70% of new AIDs cases are black, gonnorhea infection rates are 13 to 18 times the white average, and black men commit 56% of homocides even though they are 6.5% of the population. Blacks commit crime at 6 to 7 times the rate of whites (higher in urban areas) and are incarcerated in that same proportion. Now we have "flash mob robberies" and "knockout assaults" that are overwhelmingly black crimes.

You can throw all the money in the world at social programs for people, but if there is laziness, addictions, bad attitudes and bad decisions, low intelligence and little impulse control, high levels of violence, it will over-ride any and all social programs. Of course the Left never wants to hear about personal responsibility when they are the most irresponsible.  They want to blame our economic system, take more and more of your tax dollars and piss that money away on programs that aren't working.

Black kids will never be hired when they often can't speak right, they often can't dress right, when they often have no self-respect, no discipline and no education. This is the problem today, yesterday and 50 years ago.  No amount of money spent, no government bureaucrat and no bureaucracy can fix this.  Why don't we admit that we've failed?  

Why can't Blacks admit that they are failures?  Instead, you get 100% denial, 100% of the time and a punch in the face.  A little humility would go a long way with me.

Wednesday, July 1, 2020

Climate Activist Apologizes: "Climate Change Is Happening. It’s Just Not the End of the World"

A climate activist, Michael Schellenberger, MD was a climate warrior but become a climate realist over the years. Now he's speaking out against the climate radicals like AOC who's saying the end world is coming in 12 years  and others who are trying to scare the hell out of you. If you've been following my blog, you've probably seen a number of posts about global warming and suggesting that panic is not warranted.

As a man of science, I've carefully studied the issue and realized that we're not in a crisis, there's been some warming but no panic is necessary. And the relatively slight global warming can't be fixed and won't be fixed because it would destroy the world's finances and world economy. We have no place to inject any captured CO2, most power plants cannot be retrofitted for flue gas scrubbing. Also, the end of the hydrocarbon age is closer than you think (as the Greatest Depression unfolds).

Here's a few of my posts:  Actual Climate Data Vs Climate ModelsDon't Buy the Climate Hype: Slight Global Warming Is No Cause For AlarmA Summary of Climate Lies; Greenland and Antarctica Are Not Melting,  Global Warming Made EasyMan Has Caused Global Warming But Forget Cap and Trade, Thorium Reactors May Solve the World's Energy CrisisGlobal Warming is No Reason To Panic, Only A Call For More Technology. Climate Change Update

Here's Dr Schellenberger's apology to the world from Quillette"
Dr. Mike Schellenberger, MD
"On behalf of environmentalists everywhere, I would like to formally apologize for the climate scare we created over the last 30 years. Climate change is happening. It’s just not the end of the world. It’s not even our most serious environmental problem. I may seem like a strange person to be saying all of this. I have been a climate activist for 20 years and an environmentalist for 30.

But as an energy expert asked by Congress to provide objective expert testimony, and invited by the Intergovernmental Panel on Climate Change (IPCC) to serve as expert reviewer of its next assessment report, I feel an obligation to apologize for how badly we environmentalists have misled the public.

Here are some facts few people know:
  • Humans are not causing a “sixth mass extinction”
  • The Amazon is not “the lungs of the world”
  • Climate change is not making natural disasters worse
  • Fires have declined 25 percent around the world since 2003
  • The amount of land we use for meat—humankind’s biggest use of land—has declined by an area nearly as large as Alaska
  • The build-up of wood fuel and more houses near forests, not climate change, explain why there are more, and more dangerous, fires in Australia and California
  • Carbon emissions are declining in most rich nations and have been declining in Britain, Germany, and France since the mid-1970s
  • The Netherlands became rich, not poor while adapting to life below sea level
  • We produce 25 percent more food than we need and food surpluses will continue to rise as the world gets hotter
  • Habitat loss and the direct killing of wild animals are bigger threats to species than climate change
  • Wood fuel is far worse for people and wildlife than fossil fuels
  • Preventing future pandemics requires more not less “industrial” agriculture
I know that the above facts will sound like “climate denialism” to many people. But that just shows the power of climate alarmism.

In reality, the above facts come from the best-available scientific studies, including those conducted by or accepted by the IPCC, the Food and Agriculture Organization of the United Nations (FAO), the International Union for the Conservation of Nature (IUCN) and other leading scientific bodies.

Some people will, when they read this, imagine that I’m some right-wing anti-environmentalist. I’m not. At 17, I lived in Nicaragua to show solidarity with the Sandinista socialist revolution. At 23 I raised money for Guatemalan women’s cooperatives. In my early 20s I lived in the semi-Amazon doing research with small farmers fighting land invasions. At 26 I helped expose poor conditions at Nike factories in Asia.

I became an environmentalist at 16 when I threw a fundraiser for Rainforest Action Network. At 27 I helped save the last unprotected ancient redwoods in California. In my 30s I advocated renewables and successfully helped persuade the Obama administration to invest $90 billion into them. Over the last few years I helped save enough nuclear plants from being replaced by fossil fuels to prevent a sharp increase in emissions.

But until last year, I mostly avoided speaking out against the climate scare. Partly that’s because I was embarrassed. After all, I am as guilty of alarmism as any other environmentalist. For years, I referred to climate change as an “existential” threat to human civilization, and called it a “crisis.”

But mostly I was scared. I remained quiet about the climate disinformation campaign because I was afraid of losing friends and funding. The few times I summoned the courage to defend climate science from those who misrepresent it I suffered harsh consequences. And so I mostly stood by and did next to nothing as my fellow environmentalists terrified the public.

I even stood by as people in the White House and many in the news media tried to destroy the reputation and career of an outstanding scientist, good man, and friend of mine, Roger Pielke, Jr., a lifelong progressive Democrat and environmentalist who testified in favor of carbon regulations. Why did they do that? Because his research proves natural disasters aren’t getting worse.

But then, last year, things spiraled out of control.

Alexandria Ocasio-Cortez said “The world is going to end in 12 years if we don’t address climate change.” Britain’s most high-profile environmental group claimed “Climate Change Kills Children.”

The world’s most influential green journalist, Bill McKibben, called climate change the “greatest challenge humans have ever faced” and said it would “wipe out civilizations.” Mainstream journalists reported, repeatedly, that the Amazon was “the lungs of the world,” and that deforestation was like a nuclear bomb going off.

As a result, half of the people surveyed around the world last year said they thought climate change would make humanity extinct. And in January, one out of five British children told pollsters they were having nightmares about climate change. Whether or not you have children you must see how wrong this is. I admit I may be sensitive because I have a teenage daughter. After we talked about the science she was reassured. But her friends are deeply misinformed and thus, understandably, frightened. I thus decided I had to speak out. I knew that writing a few articles wouldn’t be enough. I needed a book to properly lay out all of the evidence.

And so my formal apology for our fear-mongering comes in the form of my new book, Apocalypse Never: Why Environmental Alarmism Hurts Us All. It is based on two decades of research and three decades of environmental activism. At 400 pages, with 100 of them endnotes, Apocalypse Never covers climate change, deforestation, plastic waste, species extinction, industrialization, meat, nuclear energy, and renewables.

Some highlights from the book:
  • Factories and modern farming are the keys to human liberation and environmental progress
  • The most important thing for saving the environment is producing more food, particularly meat, on less land
  • The most important thing for reducing air pollution and carbon emissions is moving from wood to coal to petroleum to natural gas to uranium
  • 100 percent renewables would require increasing the land used for energy from today’s 0.5 percent to 50 percent
  • We should want cities, farms, and power plants to have higher, not lower, power densities
  • Vegetarianism reduces one’s emissions by less than 4 percent
  • Greenpeace didn’t save the whales, switching from whale oil to petroleum and palm oil did
  • “Free-range” beef would require 20 times more land and produce 300 percent more emissions
  • Greenpeace dogmatism worsened forest fragmentation of the Amazon
  • The colonialist approach to gorilla conservation in the Congo produced a backlash that may have resulted in the killing of 250 elephants
Continued below--

Tuesday, June 30, 2020

Meanwhile One Weekend in Chicago, 17 Killed, 59 Shot

From Disrn.com:

Another deadly weekend in Chicago saw 59 people shot and 14 murdered, including a 1-year-old boy and 10-year-old girl who were killed in separate incidents.

The mother of 1-year-old Sincere Gaston was driving home from the laundromat when another vehicle pulled alongside them and opened fire. The mother was grazed by a bullet, but a second struck her child in the chest, killing him.

Then, just before 10 p.m. on Saturday night, a group of men were allegedly shooting at another group on the street when a stray bullet entered an apartment window and struck 10-year-old Lena Nunez in the head. She was pronounced dead at Stroger Hospital of Cook County.

An 8-year-old girl was also shot by a stray bullet while sitting on her couch. She was taken to the University of Chicago's Comer Children's Hospital and is expected to survive.

Police Chief Fred Waller addressed the city, begging for an end to the violence.
"This is happening far too often. Too many times children are killed by senseless violence, and not only just children, but grown-ups also," Waller said. "When is this going to stop? When are we going to say enough is enough?"
Does anyone doubt that this is virtually all Black and Hispanic crime??  Where's the protestors from BLM??   *Crickets*

What? Black lives don't matter??

Thank God for White Supremacy!

This post is based on my blog post from October 2017: "Based on Accomplishments, Whites are Superior"

I'm tired of hearing from minorities complaining about "White Privilege," White Supremacy or otherwise denigrating White people as if white people are the big problem in our country. Nearly all of these complainers are minority Democrats; which has become the anti-white party in a country of ~69% white people.  The truth is that White people have created advanced civilization to a remarkable degree that still is the envy of the world.

The rest of the country resembles a March of Morons. In the CHOP zone in Seattle, they have a gun violence, murder and crime problem -- which goes hand-and-hand with anything "black." No surprise there! These people, as a group, are a violent, thieving, criminal bunch! 

In black democrat cities, Negros are robbing, looting and burning their own people's businesses in most black cities -- which is par for the course. Then they complain that their communities aren't served by grocers or other retail businesses. They are beyond stupid. And some things never change. What haven't black people ruinedEvery black city is being ruined by these people with no exceptions -- just like Africa (and Rio, Haiti, Baltimore, Philadelphia, Detroit. East St.Louis, Ferguson and hundreds of other locations)!!

Predictably, Seattle's black police chief Carmen Best is trying to figure out why two more African-Americans are dead at a place that “clamed to be working for Black Lives Matter?”
Seattle's Clueless"Affirmative Action" Police Chief 
A 19-year-old man was shot dead and another wounded during an incident in the area two weekends ago.  That was followed by a similar incident in the early hours of Monday which left a 16-year-old dead and a 14-year-old critically wounded.

During a press conference where she was heckled throughout by BLM supporters, Police Chief Carmen Best stated, “It’s very unfortunate that we have yet another murder in this area identified as the CHOP – two African-American men dead at a place where they claim to be working for Black Lives Matter." Yeah, unfortunate indeed but a story occurring every day in black cities around the US and world. 

But insane and ignorant Negros, who are so upset about life in America, should instead be thanking white people for creating a prosperous, orderly society where they can live in peace if they choose. They COULD be living in Africa or Brazil which are miasmas of crime, murder, terror, tyranny, poverty, disorder, misery WITHOUT EXCEPTION.

It is White people who should be demanding reparations from Black people for all the disorder, decay, violence, property and gun crimes they bring to their communities and this country! That, or get out! Black men remain a huge burden to this country!

Yes, we had a bad discrimination problem which the Republican party ended after the Civil War. But Democrats ended all that by reversing all the civil rights gains of post-Civil War ReconstructionDemocrats postponed black freedoms for 100 years. However, since 1954, there are affirmative action programs galore (reverse discrimination against white ppl), income support galore, desegregation, integration and busing for blacks.

Also, from Fred Reed, "There has been an enormous flow of charity for blacks: Section Eight Housing, AFDC, Head Start, hiring quotas, set-asides, sharply lowered standards in police and fire departments, universities."   Fred again:"Nothing has worked. The crucial academic gap has not closed, crime remains horribly high, illegitimacy verges on universal. It hasn’t worked. There is no indication that anything will. The great black cities are in something approaching custodial care." Yes, US Blacks are in a state of custodial care by White people. And instead of a thank you, all you get is a "Fuck You!"

How can the US still be racist when it elected a half-black man twice as President with convincing winning margins?  And Obama carried huge swaths of white America in his victories. It's Black People who are overwhelmingly racist!  

The simple truth is that basically all of the world's technological, scientific, medical, engineering and philosophical advancements and inventions were conceived and developed by white people. Not only that, but white people, mostly English-speaking people, invented political, personal and economic freedom, religious freedom, rule of law, guaranteed rights and personal liberty that are now uniquely enshrined in our law. The US and the US Constitution is the envy of the world.  And White people are the first people to began the process of ending the status quo of worldwide slavery in the 1780s. Hooray for white folks!!

Yes, East Asians have even higher median IQs compared to Northern Europeans and their descendants, and could have invented many things, but they haven't.

Here's just some of the zillions of other accomplishments of white people (from Burning Platform):
Look around you. Can you find anything with a moving part that was not invented by whites? Anything electronic? Cars, cell phones, computers, aircraft, antibiotics, on and on–all sprang from the minds of white people. You are not supposed to say such things, and could be run out of a university for it–but ask yourself, if you have the courage: Is it true? [Of course it's true.]

The Hubble Space Telescope: twenty-five hundred years of phenomenally complex math, physics, electronics, optics, and chemistry went into the Hubble. It is entirely a white man’s show. Nobody else has come close. Your professors will not want you to think this. They will not want you to think. But you have a mind. Use it.

Look around your university. Who do you see taking the hard subjects–math, chemistry, physics, engineering, philosophy, computer science? Whites and Asians…right? Are they the kind of people who complain constantly about White Privilege? You may notice a pattern here: Those who can, do. The rest bitch and moan.
Take the Hadron Collider, a gigantic particle accelerator at CERN, in Switzerland, a massive instrument for research in subatomic physics. It is one of the greatest and most challenging projects of humanity. The Japanese could do this if they wanted to badly enough and soon, perhaps, the Chinese. They didn’t. The technology is a white man’s show, starting from Athens 2500 years ago. Are you sure you should be ashamed of this?
Here's just a few other mostly-white accomplishments: Euclidean geometry. Parabolic geometry. Hyperbolic geometry. Projective geometry. Differential geometry. Calculus: Limits, continuity, differentiation, differential equations, integration. Physical chemistry. Organic chemistry. Biochemistry. Classical mechanics. The indeterminacy principle. The wave equation. The Parthenon. The Anabasis. Air conditioning. Number theory. Romanesque architecture. Gothic architecture. Information theory. Entropy. Enthalpy. Every symphony ever written. Pierre Auguste Renoir. The twelve-tone scale. The mathematics behind it, twelfth root of two and all that. S-P hybrid bonding orbitals. The Bohr-Sommerfeld atom. The purine-pyrimidine structure of the DNA ladder. Single-sideband radio. All other radio. Dentistry. The internal-combustion engine. Turbojets. Turbofans. Doppler beam-sharpening. Penicillin. Airplanes. Surgery. The mammogram. The Pill. The condom. Polio vaccine. The integrated circuit. The computer. Football. Computational fluid dynamics. Tensors. The Constitution. Euripides, Sophocles, Aristophanes, Aeschylus, Homer, Hesiod. Glass. Rubber. Nylon. Skyscrapers. The piano. The harpsichord. Elvis. Acetylcholinesterase inhibitors. (OK, that’s nerve gas, and maybe we didn’t really need it.) Silicone. The automobile. Really weird stuff, like clathrates, Buckyballs, and rotaxanes. The Bible. Bug spray. Diffie-Hellman, public-key cryptography, and RSA. Et cetera again and again.
If you talk about these accomplishments on college campuses, in front of black kids, you will be labeled "white supremacist!" But this is just sour grapes. US blacks should also be more realistic about their abilities and they'd be more happy. Their 'sour grapes' attitude brings unhappiness. And miserable they are.

Conversely, most Latinos and Asians correctly respect white people and their unmatched accomplishments. They accept that they are not as accomplished as the Northern Europeans and their descendants. Instead, they work hard to emulate this success. Here's the thing; acceptance of yourself realistically in the "pecking order" of abilities and culture leads to personal happiness. Latinos and Asians are happy people as they leap-frog blacks to prosperity. 

On campuses, you hear ignorant, uninformed black and Latino students, most of them unqualified to even be in college, complain about "white privilege" or even try to reverse-discriminate against whites. I am reading more and more cases where blacks are self-segregating meetings, dorms, lectures and speeches etc to exclude whites. It's because these black students can't compete with whites in reasoning and logic and they know it.

White persons are under attack in this country by ignorant minorities and the Leftists who dominate our schools and universities. The ridiculous complaint of "White Privilege" shows how intellectually bereft blacks and the so-called social justice warriors are. There is so much ignorance in our country-- and it's mostly found in the ranks of Blacks and Democrats.

Friday, June 26, 2020

The Shaky Foundation of the US Stock Market Bubble

The US stock market is dominated by just 5 stocks that have soared to extraordinary valuations. This has buoyed the averages enormously. But few are aware of how shaky these foundations really are. From Wolf Richter
Today, the “Giant 5” accounted for 19.4% of the total US stock market capitalization, as measured by the Wilshire 5000, a new record. On January 3, 2017, the Giant 5 had accounted for 10% of the Wilshire 5000. In the three months since the crash in March, the share of the Giant 5 has soared from abound 16% to 19.4% today
Apple and Microsoft both are now worth over $1.5 trillion. Amazon is at nearly $1.4 trillion, Alphabet at $1.0 trillion. These are gigantic valuations. They also speak of an immense concentration of power in a single company.
The market, and broad portfolios, are immensely dependent on the Giant 5. That was great on the way up – on their way to becoming giants, when their share of the overall market doubled in three-and-a-half years, from 10% in January 2017 to nearly 20% today. 
Here's the thing, the fundamentals of these "Giant 5" stocks start great but eventually the fundamentals shrink, as often happens with dominant companies in their markets, due to diminishing returns. It's inevitable.

For example, say a company, that has a great idea, sees a potential market of 1000 units of potential demand when they start. And let's say that during the first fabulous year, they supply 200 units of demand or 20% of the market. The 2nd year, they continue their wonderful success at 20% growth, so they get 20% of the remaining potential market of 800 units which means that they sell 160 units. Even with 20% growth continuing, which is great (and the company enjoys a high stock market valuation), the 3rd year, their sales are 128 units.  Over time, as their market is exploited, their sales go down inevitably. Sure, they try to find other markets to exploit to keep up their revenue rising and they often do so.

At first, the company's stock valuation should be high as sales and profits are plenty. But over time, the company matures and as revenue shrinks due to market saturation, stock market valuations would normally be expected to fall.

However, in our modern world with extremes of unsound money and finance, these same companies borrow money at very low interest rates and buy-back their own stock on a regular basis (which used to be considered stock manipulation and therefore illegal). This shrinks the shares outstanding which has the effect of boosting their "earnings per share." They also sometimes borrow money to pay an attractive dividend. Nice dividends also boost the stock price. It's like magic! Apple has been doing this for years even though their revenues are largely flat-ling now and debt keeps building on their once-pristine balance (which no one pays attention to --because these companies are, afterall, giants in their field.)

This is how they maintain their appeal to inexperienced investors. But eventually, these giants fall and when they do, they'll take down the market averages hard.

Below is a graphical result of this effect of diminishing returns ---showing the giant 5 companies and their revenue changes over time (from John Hussman) Remember these are the heart and soul of "Growth Stocks":

Company Revenue Over Time for Facebook, Apple, Amazon, Netflix, Google and Microsoft
Each symbol represents one quarter
The chart above shows the ACTUAL revenue decline of the Giant 5 over time. Remember, these five stocks are the pillar of the US stock market indices and have HUGE bubble valuations today. These stocks are "sold" as GROWTH COMPANIES which is why they have huge valuations!

You can see that Apple revenue growth is already flat-lining at near zero revenue, but their EPS goes up based on share buybacks and by paying dividends. Apple is an expensive stock! The big problem for these companies is that, today, their valuations are extremely elevated vs. their inevitable diminishing returns going forward. Also, their current stock prices do not reflect sudden effects of government lawsuits, changing consumer preferences or a pandemic(!).

One more thing and it's very important. Corporate profits are the most mean-reverting series in finance and US corporate profits are extremely elevated vs Labor. Eventually labor revolts or profits collapse---like they might in a pandemic?

Eventually Labor Revolts After Exploitation by Corporations
Beware. Stocks are at bubble peaks, held aloft by the giant 5. As in many prior periods (1974, 1987, 2000 to 2003, 2008), excessive speculation in the "market darlings" comes to an end.  When the giant 5 decline hard, the overall markets will eventually decline hard. Let's just say it's inevitable.

Tuesday, June 23, 2020

Blacks Ruin Everything; BLM is ISIS, No Humility in Sight

Blacks ruin and destroy everything: public housing, their families, their neighborhoods, their communities, their cities, their countries. We are now seeing huge amounts of mindless chaos and destruction across this country usually led by blacks and other minorities. Their vandalism of statues is reminiscent of ISIS mindlessly tearing down priceless antiquities in the Middle East. In fact, you could say that BLM is our equivalent of ISIS.

Idiot Shaun King wants to tear down statues of Jesus and he claims it's a form of white supremacy. What a fool. Statues of Washington and Jefferson aren't safe with black mob rule. Few of those idiots know that Washington and Jefferson began the reversal of slavery along with white leaders in Paris and London. Yes, you got that right, it was white people who ended the worldwide status quo of slavery. Conversely, in Africa, slavery wasn't made illegal for hundred's of years later.

These people can't get anything right. Even BLM is based on lies. Michael Brown was a horrible fat-ass thug who attacked a police officer twice and had to be put down like a wild animal. Hands up, don't shoot my ass! What a fucking joke.  Eric Holder's DOJ went to Ferguson to investigate charges of racism in Ferguson. What they found in Ferguson, a population of 20,000 persons — 16,000 people have outstanding arrest warrants. Few black persons can follow the rules or the law.

Our Congressional Black Caucus is a complete disgrace of mindless ignorance and idiocy. Sadly, they well represent their mostly idiot constituents. Blacks vote for Democrats even though it was the Democrats that ended their post civil war civil rights gains and extended inequalities for another 100 years until the 1960s. Democrats are the party of KKK, Jim Crow, but blacks love them now because of "free stuff." That's literally their mentality.

Brazil, with a majority black and black/mix ethnicity, has a murder rate some 6 times the rate of that in the US!  Conditions in Africa range from very poor to catastrophically bad.  The same can be said of places like Haiti and Jamaica. There is very little evidence that Blacks can create any kind of orderly, prosperous or peaceful cultures anywhere. 

Formerly prosperous South Africa is collapsing under black rule. They can't even keep the electricity online consistently. Bands of black thugs are attacking, terrorizing and killing white farmers. Land confiscation is underway, mostly farm land held in white hands. Their plan is to put black people on these farms, but they'll find that they will starve to death just like they did in Zimbabwe.

Back in the US,  Raz Simone, a so-called "rapper," appointed himself warlord-in-chief in Seattle's CHAZ. Within hours, violence commenced, whites in attendance were told to give each black person "reparations"of $10. Now the "autonomous zone" (it's not autonomous since it needs power, water, trash collection, emergency services, etc) is being shutdown due to chaos, fights, thuggish attacks, shootings and vandalism. Not surprising to me considering black rappers have very low life expectancies due to their violence.

"Raz is connected to Islamists. He is involved in the Manifesto, Washington State – the first black Muslim independent state. He also is being sponsored and has been hosted by the Dubai government. Raz’s anti-white and anti-America rants are supported. He also has been spotted attending the Sheik Zayed mosque." (source and another source)

Here's a video of Raz handing out AR-15 weapons and searching for people with experience with guns.  

Nobody can say any of this because of extreme speech repression and political correctness.  Nobody can say that niggers and muslims are a huge problem. That's why both Republicans and Democrats are largely silent as our country is in tatters. Nobody can say the truth. The truth is that these violent protesters tearing apart our country are a bunch of lawless niggers and we should be mass arresting them.

No one is speaking out or arresting criminals. Cops are being "handcuffed" by their Democrat city "leaders" and they are quitting. This is all about Democrats creating chaos to smear the Trump administration. This is yet another ploy to remove or defeat Trump.

Thursday, June 18, 2020

Huffpost Cannot See the Obvious Truth About Black Criminality

From the Huffington Post: The Shocking Finding from DOJ's Ferguson Report from Dec 2014:
Ferguson — a city with a population of 21,000 — 16,000 people have outstanding arrest warrants, meaning that they are currently actively wanted by the police. In 2013, 32,975 offenses had associated warrants, so that there were 1.5 offenses for every city resident.
Even internal police department communications found the number of arrest warrants to be “staggering”. By December of 2014, “over 16,000 people had outstanding arrest warrants that had been issued by the court.” The report makes clear that this refers to individual people, rather than cases, so people with many cases are not being counted multiple times. (Though clearly some of these cannot be Ferguson residents, since the number represents more than the entire adult population and Ferguson policing applies to visitors as well.) However, if we do look at the number of cases, the portrait is even starker. In 2013, 32,975 offenses had associated warrants, so that there were 1.5 offenses for every city resident.
The article goes on to say how this is all about extreme racism and "massive" corruption by the authorities.  "It’s hard to believe, but the Ferguson police department’s massive deliberate racism only represents one of its problems. The DOJ report shows not just a racist criminal justice system, but one in which the very act of being alive has been made a crime, and in which nearly everybody is wanted by the law at every moment of every day."

Never can they think or even consider that maybe black people are the problem; that "blackness" might be the problem!  

Sorry, but Blackness IS the problem. It's the most obvious thing in the world but Huffpost writers literally can't countenance the simple fact that many of these people are closer to animals than humans.

I'm tired of hearing that Whiteness is the problem!

A large minority of Black people cannot follow even the simplest of rules or act in any way consistent with normal cultural standards of mainstream USA. In Houston, when I drive through black areas of town, people cannot even cross the street correctly-- they'll walk in front of cars or buses while ignoring the walk signals at the intersection (if they even cross at an intersection).  I guess cars and buses are racist!

About 40% of black people in America are so low on the intelligence scale, and have virtually no sense of  any kind of civilized culture, that they CAN NOT cope with any of the difficulties any normal person has to cope with in day to day life in America.  They literally can't function here. If they don't belong here, where do they belong? 

Another Massive Propaganda Push by US Media to Portray Black Criminals as Angelic

Remember Michael Brown from Ferguson, who was being portrayed by media outlets as a sweet boy,who wouldn't hurt a fly? ABC Nightly News trotted-out 'angelic' photos of Michael Brown from when he was about 14 years old, continuing the narrative that he was a lovely, innocent little boy soon heading to a university which was a completely fabricated lie. Diane Sawyer, who had the intellectual capability of a kindergarten school teacher, happily read whatever bullshit ABC News wanted.

ABC and Sawyer did this even after a video was released of the 300 lb fat-fuck thug Brown that showed him roughing-up a convenience store clerk while he robbed the store. Just 10 minutes later Brown attacked officer Wilson while he was in his car, then Brown attacked Wilson again a 2nd time outside the patrol car. Sounds like suicide by cop to me. Here's young Michael Brown's adult rap sheet (not including anything from juvenile offenses):

Burglary – 1st Degree { Felony B RSMo: 569.160 }
Date: 11/02/2013 Code: 1401000
OCN: AJ006207 Arresting Agency: ST ANN PD

Description: Armed Criminal Action { Felony Unclassified RSMo: 571.015 }
Date: 11/02/2013 Code: 3101000
OCN: AJ006207 Arresting Agency: ST ANN PD

Description: Assault 1st Degree – Serious Physical Injury { Felony A RSMo: 565.050 }
Date: 11/02/2013 Code: 1301100
OCN: AJ006207 Arresting Agency: ST ANN PD

Description: Armed Criminal Action { Felony Unclassified RSMo: 571.015 }
Date: 11/02/2013 Code: 3101000
OCN: AJ006207 Arresting Agency: ST ANN PD

Now they're pulling that propaganda bullshit again. ABC News published a glowing piece about Rayshard Brooks, the man killed by former Atlanta police officer Garrett Rolfe after he resisted arrest, assaulted an officer, stole his taser and discharged it, saying he was remembered for his “hard work and dedication to family.”

Nowhere does the story mention his rap sheet of this 'dedicated' family man, which includes convictions for felony cruelty to children, family battery violence, false imprisonment, interference with custody, and more. Here's Rayshard's criminal record:


Rayshard was just another low-IQ black career criminal who was incapable of conducting his life in an advanced society like the USA. This story is repeated 20 million times over in this country . The problem for America is low black intelligence and their high criminality. It's not a surprise. It's the same all over Africa.

We've seen the same type of propaganda for Eric Garner, Freddie Gray, and Sandra Blain. All of these people had extensive records. Gray had 18 arrests. Garner had 30 arrests since 1980 on charges such as assault, resisting arrest and grand larceny. Sandra Bland had 10 run-ins with police officers in Chicago and Texas. She was in arrears by some $7,500 in past due traffic fines. I'm surprised there weren't warrants out for her arrest. Maybe there were?

IN EVERY CASE THESE PEOPLE RESISTED ARREST AND FAILED TO FOLLOW POLICE COMMANDS  They never learn!. They can't learn anything because their brains don't function correctly. There's literally no hope.  If they controlled their behavior, then they likely would have stayed alive.

Eric Garner, the 350 lb black guy in Manhattan, who resisted arrest was wrestled to the ground. He was reported to have said "you're choking me, you're choking me" at least 15 times while wrestling with police -- proving beyond a shadow of doubt that he WAS NOT choking. (how could he have the breath to say that repeatedly if his airway was restricted?) The officers wrestled him on the ground but his death was a cardiac event on the way to the police station. Did I mention he was a fat fuck?? A grand jury declined to indict officers.

The Indicted Police Officers in the Freddie Gray Case
Freddie Gray's death was much more suspicious given that he was injured during police transport and ultimately died of those injuries. I'm not going to lie and say that the police were innocent here. But all of the officers were either acquitted due to hung juries, dropped charges or failures to convict.  

Here's Freddie Gray's arrest record:
  • March 20, 2015: Possession of a Controlled Dangerous Substance
  • March 13, 2015: Malicious destruction of property, second-degree assault
  • January 20, 2015: Fourth-degree burglary, trespassing
  • January 14, 2015: Possession of a controlled dangerous substance, possession of a controlled dangerous substance with intent to distribute
  • December 31, 2014: Possession of narcotics with intent to distribute
  • December 14, 2014: Possession of a controlled dangerous substance
  • August 31, 2014: Illegal gambling, trespassing
  • January 25, 2014: Possession of marijuana
  • September 28, 2013: Distribution of narcotics, unlawful possession of a controlled dangerous substance, second-degree assault, second-degree escape
  • April 13, 2012: Possession of a controlled dangerous substance with intent to distribute, unlawful possession of a controlled dangerous substance, violation of probation
  • July 16, 2008: Possession of a controlled dangerous substance, possession with intent to distribute
  • March 28, 2008: Unlawful possession of a controlled dangerous substance
  • March 14, 2008: Possession of a controlled dangerous substance with intent to manufacture and distribute
  • February 11, 2008: Unlawful possession of a controlled dangerous substance, possession of a controlled dangerous substance
  • August 29, 2007: Possession of a controlled dangerous substance with intent to distribute, violation of probation
  • August 28, 2007: Possession of marijuana
  • August 23, 2007: False statement to a peace officer, unlawful possession of a controlled dangerous substance
  • July 16, 2007: Possession of a controlled dangerous substance with intent to distribute, unlawful possession of a controlled dangerous substance (2 counts)
The entire black community, and it's so-called "leaders,"are thoroughly discredited time after time when their "victims" are found to have caused trouble for themselves. There is usually no white bogeyman -- just black troublemakers in a culturally-collapsed community as far as the eye can see.

Wednesday, June 17, 2020

CHS: The Greatest Depression is Unstoppable

From Charles Hughes Smith at OfTwoMinds Blogsite

I'll try to summarize all this as simply as possible:
  1. The global economy's cost structure has been fatally distorted by central bank policies of inflating asset bubbles and reducing interest rates to near-zero.
  2. Earnings from labor have stagnated or eroded since the era of globalization / financialization took off around 2000.
  3. Everything costs too much, i.e. is no longer affordable from earnings alone, so the only way to maintain the current costly lifestyle is to borrow money and use it to pay current expenses. This is true for every sector: household, corporate and government.
  4. As a result, everyone now needs every dollar of income just to pay their expenses, including interest and principal on their rising debts. There is no slack (buffers) in the system at all.
  5. This can be visualized as a row of dominoes. Once the first domino falls, every domino will be toppled.
For example: a worker is laid off and can no longer afford to go to a favorite restaurant. The restaurant's expenses are so high it can't survive on reduced customer traffic, so it closes. The commercial landlord's expenses are so high that he can't afford to lower rents, but since no business can afford high rents, the space is empty and the landlord goes bust. The bank holding the mortgage then has to absorb a staggering loss because the property is no longer worth much because a building without tenants is just a money-pit of expenses and no income.

The once-valuable restaurant business is now worth zero. The once-valuable commercial property is also worth zero because the owner must continue to pay property taxes, local fees and maintenance even if there are no tenants.

The dominoes falling trigger a reverse wealth effect, a topic Gordon Long and I discuss in a new podcast A Reverse Wealth Effect? (41:52). This is important because the wealth effect--the psychological state of euphoria created when one's assets steadily rise in value-- has been a core driver of consumption since the Federal Reserve transformed the economy into a Bubble-Based Economy in the late 1990s.

When we feel wealthier because our assets are rising, we're increasingly likely to tap that newfound wealth by borrowing money to fulfill our desires for inessential goods and services. Since the Fed has suppressed interest rates, the cost of borrowing against one's house or buying a new car seemed remarkably affordable, especially compared to the big increases in wealth generated by rising assets.

Unfortunately, while the wealth effect can reverse, debts have to be paid regardless. Debt payments are forever while the wealth effect is fleeting.

The current mass delusion is that the Fed can bail everyone out with cost-free cash. But we have to keep in mind what the Fed can't do:
  1. It can't reverse the unprecedented wealth inequality its policies have pushed to the point of civil breakdown.
  2. It can't make people take on the risks and heartaches of starting new businesses.
  3. It can't force employers to hire more employees.
  4. It can't make unprofitable businesses profitable.
  5. It can't force people to buy assets at prices that no longer make financial sense.
  6. It can't make insolvent businesses and local governments solvent.
  7. It can't force people who now realize their priority is to save money to spend their cash, even if the Fed forces negative interest rates so it costs money to have savings.
  8. It can't lower the unaffordable cost structure of the entire economy.
  9. It can't de-link all the financial dependencies in the financial system that make it so vulnerable to the first domino falling.
  10. It can't stop people from selling their assets.
In summary, it can't stop the reverse wealth effect. We are entering The Greatest Depression because there is no exit. Either the phantom wealth of asset bubbles completely vanishes, or the phantom purchasing power of fiat currency vanishes. Both paths lead to the same destination: systemic collapse.

CHS

Monday, June 15, 2020

A Very Long Way to Recovery

In my post How the World Got to the Edge of a Cliff, I said, "today, we are now in the 2nd Great Financial Crisis; the third bust in a series of bubbles and busts spawned by government and the central bank(s) since year 2000. The recovery after each bubble bust has become more and more anemic."

Notice the trajectory of the 2001 bubble recovery in dark red where employment recovered in about 4 years, then look at the 2007 bubble recovery where employment sort of recovered in 8 years.  A simple projection for our current bust would estimate employment recover to take 16 yearsI've said that we're in a depression and it's only going to get worse.

Here's graphical evidence of that concept. It also shows that the trajectory of our recovery will take years, maybe decades. And that assumes yet another crisis doesn't appear!  Heck, we're barely 8 months into the 2nd Great Financial Crisis which (Sept 2019 repo crisis was the start), if it's like the 2007/2008 crisis, will last about 1 1/2 years. So, we still have a year to go where one or more banks or institutions fail, the EU has a banking or financial crisis, stocks crash/recover/crash, etc.

My bet is that there will be no full recovery for a decade.
Notice the "Fabulous" May Job Report " V Recovery" where Employment was admittedly overstated by 3 million

Saturday, June 13, 2020

Every Year US Police Kill Many More Whites Than Blacks

Although White persons are ~5 times more numerous in the general population, Blacks are arrested and incarcerated about 6 times more than whites.  For instance, in a recent year, US prison population was 42% Black and only 40% White despite blacks being only 13% of the population vs 69% for white.

So you could say that police interact with whites and blacks on the street in about the same frequency.

Police killed 370 whites vs only 235 blacks in 2018.  Similar numbers are found in other years. Police likely kill whites more often because I suspect that whites have more guns than blacks. Again, blacks are involved in crimes at 6 times the rate as whites.

See my post Blacks, Mostly Black Men, Remain a Huge Burden to the US. to see the crime stats and other horrific details about Blacks in America.

Whites Are Killed More Often than Blacks with Similar Interaction Rate

Thursday, June 11, 2020

The Left is Pushing "Systemic Racism" Again, But the Problem is Low Black Intelligence and High Criminality

The corrupt Left-wing media is pushing the HUGE "Systemic Racism" nonsense again in order to incite the flames of resentment and actual flames. We're being asked to fall prostrate to our newly coronated "Saint George Floyd" without knowing the police side of the story. How can this country be racist when it (mistakenly) elected Barack Obama twice by convincing majorities?

I watched a bystander's video of officer Chauvin restraining Floyd, who has a distinctive Cajun accent which gives me pause right away. Cajuns aren't generally trustworthy based on my life experience. The video is taken by a bystander who repeatedly and correctly warns Chauvin to 'lighten-up." The link to the video is here
Floyd keeps talking and breathing for most of the video until the end. If you repeatedly say that you can't breath, then it's proof that you CAN breath albeit with some distress. It's somewhat apparent that Chauvin is putting most of his weight on his right knee and less weight on his left foot on Floyd's neck. That's what it looks like to me. If Chauvin had put his entire weight on Floyd's neck, he would have died very quickly.

The person filming the video, and me personally, found the entire incident disturbing. I personally find much of accepted policing today to be disturbing.  My understanding is that the Minneapolis Police department allows this type of restraint. But police face a virtual war zone of criminality in urban areas dominated by mostly blacks. It's no wonder they fear for their lives. It's no wonder they treat these people like animals. It's because they act like animals. Blacks are notorious in resisting and violently reacting during police encounters.

Autopsy results say he died of cardiopulmonary failure due to the stress of the arrest. He was found having significant arteriosclerosis with significant major blood vessel blockage.

But no one is understanding why Floyd was in this position to begin with and we certainly don't know Chauvin, and the other officer's stories.

Floyd tried to use a counterfeit $20 bill to buy cigarettes at a local store twice.  Someone at the store called the police. Video surveillance, separate from the linked video above, shows Floyd sitting on the sidewalk while the police are talking to him showing him pulling out and dropping a bag of drugs on the sidewalk beside him. See this video here.
Floyd had a criminal record with violent assault on his record. Police officers were certainly aware of this right away.

Having watched "Live PD" repeatedly on TV, I notice that in about 90% of the cases of black suspects being detained, they fail to obey commands, fail to cooperate and resist arrest.

Floyd was found to have taken methamphetamine and fentanyl and was judged to be intoxicated by the store owner, the police and the coroner. But his body also contained cannabis and he recently tested positive for COVID-19.  So, he was intoxicated on drugs, acting erratic, resisted arrest at some point and found himself on the ground.

The preliminary autopsy has also revealed that Floyd did not die from strangulation or asphyxiation, but he probably had a heart attack during his ordeal. Fox News reported:
“An official autopsy revealed no physical evidence to support strangulation as the cause of death, concluding that the combined effects of being restrained, potential intoxicants in Floyd’s system and his underlying health issues, including heart disease, likely contributed to his death.”
So many black persons are in poor health and very overweight which causes diabetes, high blood pressure and heart disease. Poor health is why blacks are dying at 2.4 times the rate of whites during this Covid virus infection crisis.

The only real objective autopsy is the first one done by the medical examiner.  Secondary autopsies are NOT objective and incomplete as numerous organs are missing after the first one.

It's really a sad story repeated all the time in this country. Black men are committing crimes at 7 times the rate of white people and committing the majority of gun murders.  It's 6.5% of the population committing over 50% of gun murders, mostly black on black. Where's the outrage about that?  Nowhere.

People are irate over this incident, but fail to express outrage at regular killing sprees from Chicago, virtually all black of course. The New York Post reports:
Eighteen people were killed in Chicago in a 24-hour span last month — the deadliest day in the Windy City in roughly six decades, according to a report.
The slayings — including a high school student and a college freshman who aspired to become a correctional officer — occurred on May 31 as the city grappled with ongoing civil unrest in the aftermath of George Floyd’s death in Minneapolis police custody, the Chicago Sun-Times reports.
The grim tally made May 31 the single most violent day Chicago has endured in roughly 60 years, according to data provided to the newspaper by the University of Chicago Crime Lab.
When the entire weekend is taken into context, 25 people were killed citywide from late May 29 through May 31, while another 85 people were hurt by gunfire, the Sun-Times reports, making it the most violent weekend in modern Chicago history.

Our Black/White Culture Clash Is Not Racism, But Low Black Average IQ and High Criminality


So, this is less a story of "systemic racism" and more a story of the cultural clash that occurs with lower intelligence minorities with lower competencies/capabilities, less logical and intellectual capabilities, and less impulse control and much higher criminality than those of European or East Asian descent. It's really that simple.

The world average IQ is about 85, so I'm not being excessively critical for the majority of the world averaging 85 including black persons. The only unusual and exceptional thing is that only two world populations have IQ averages of 100 or more are Northern Europeans and East Asians (and their descendants). I'm not a white supremacist. Based on data, I'd be more of an Asian supremacist since their average IQs are 103 to 107--higher than whites.

Differences of average intelligence cause a clash of civilizations, which is why homogeneous cultures are peaceful and happy while "diversity" causes clashes and discord, especially where there is a welfare state. More than 50% of blacks (and Latinos) are unable to complete high school. The National Educational Assessment Program (NEAP) shows that only 7% and 17% of black grade 12 students are "proficient" in math and reading, respectively (and that's after some 40 % of black students have already dropped out prior to 12th grade).

So many blacks are unable to make a good living in our hollowed-out economy that I've been writing about. US manufacturing used to throw-off many ancillary jobs that didn't require high mental skills. Now, that's gone thanks to globalist politicians. There are very few blacks in higher paying STEM or high tech. If not for affirmative action, there would be very few blacks in graduate schools and college. I didn't say that, the Journal of Blacks in Higher Education says that. Affirmative action programs backfire when it comes to Bar and Medical certification exams as many black graduates don't pass them as I explain here.

US median black IQ is 85 with a standard deviation of 13. This means that ~90% of the black population is less intelligent than the white average of 100 IQ.  The average mental age for black adult is that of a 15 year old --about that of a high school freshman or sophomore. Rational and knowledgeable people wouldn't expect high occupational success rates (which is why we need vocational high schools for students not college bound).

Obviously, it can change after many generations. But, so far, after 50 years of affirmative action, desegregation, busing, there is little that has changed regarding black academic performance in this country.   IQ, Standardized tests, LSAT, MCAT, TASS, MSPAP, SAT and GRE scores all say the same thing---blacks score lower than white test-takers by about the same margin of 1.1 standard deviations lower.

It is politically incorrect to write any of these words. Meanwhile, every night on my local TV news I see surveillance videos about crimes committed mostly by black perpetrators night after night: robberies, violence and gun crimes. Black males make up 6% of the population but commit 54% of the gun crimes in the US. Correspondingly black incarceration rates are about 6 times that of whites. Black families are in collapse with some 72% of children born out-of-wedlock with no father to be found. This is just a brief description of complete collapse of black "culture" and descent into pervasive criminality. Worse, white youth and media types have exalted "gansta" behavior as something "cool."

White people didn't cause this. It's also not white person's fault that they inherited relatively high intelligence and have created prosperous, peaceful and orderly societies. Conversely, there are essentially zero prosperous, peaceful and orderly black communities, states or nations. They are unable to create any kind of modern civilization for themselves.  Blacks ruin everything and they are ruining most of US urban areas.

Monday, June 8, 2020

How the World Got to the Edge of the Cliff

Anyone who has been following this blog can see that I've railed against extremes of "government" and unsound money for a long time. If we are to tell the story of how the world is reaching a cliff edge of crisis, our story must start in the year 1913, with the passage of the Federal Reserve Act and the Income Tax Act which created the Federal Reserve and established income taxes, respectively.

Like most things in government, the Income Tax Act was "sold" on phony premises. In 1913, the standard deduction was about $75,000 in today's prices and the 1% income tax covered incomes over $75,000 up to $500,000 (in today's dollars). Obviously, the vast majority of people did not pay any income tax at all. The top rate was 7% on income over $12.5 million in today's dollars. Just four years later, income tax rates went to 70% to fund WWI and stayed that way until JFK and then a bit lower under Reagan!  Ah, you gotta admire government "mission creep."

Furthermore, the Federal Reserve was created to maintain "price stability" (and "economic growth.")  But consumer prices went up 110% from 1913 to 1921 alone! Their failures continue today as I detail below.

Unbridled government growth and debt really started with WWII but even then, in the aftermath of the 2nd World War, the US Government spending returned to only 11% of the economy in 1950. But government growth and debt escalated very rapidly after 1971 with Nixon's abandonment of a gold standard.

From my February 2018 post Extremes in Unsound Money and Unsound Will Lead to Catastrophe, I said that: "In 1970, US debt was $275 Billion. It took 188 years to achieve that. This past week alone, the government sold $258 billion!"   That was in Feb. 2018. For comparison, US debt has exploded by $3 or $4 Trillion in just the past 3 months alone to the end of May 2020. Debt (money) growth is going exponential!

In 1971, Nixon ended the Post WWII Bretton Woods arrangement which ended any semblance of (gold-backed) sound money. As an immediate result, our national debt and inflation began to skyrocket. Government debt led to chronic budget deficits which creates chronic trade deficits, which then requires even more government spending and lower interest rates to keep the economy going.

Thanks to the repeal of Glass-Steagall in 1999, the big banks have once again become highly risky hedge funds using your money and central bank deposits to gamble on highly leveraged positions in risky positions (again). They act with impunity since they have the government's backing when they fail again.

The rapid rise of the government monstrosity since 1971 has led to massive corruption of government-itself, the rise of government-sponsored monopolies/oligopolies in the military-industrial complex (the perpetual war machine), the ever-expanding financial industry, the drug industry, the healthcare industry and others, along with the corruption of finance, extreme distortion of our economy, debasement of our money and causing extremes of wealth inequality .

The rise of the Eurodollar market sprung up at European banks and provided (even more) massive liquidity to the world from the late 1980s to 2008. Bankers used an accounting trick to hide their increased leverage (in order to avoid bank capital restrictions). Eurodollars played a big role in the explosion of the housing mortagage market leading up to 2008. After 2008, when the world had a financial near-death experience as derivatives failed, banks teetered and markets failed. The world economy and trade come to a sudden stop as 'finance' failed (briefly). Obviously the acute crisis was overcome by government actions of more money and debt. More debt was the solution to too much debt. The Eurodollar market came back but began faltering again by 2011.

Today, we are now in the 2nd Great Financial Crisis; the third bust in a series of bubbles and busts spawned by government and the central bank(s) since year 2000. The recovery after each bubble bust has become more and more anemic.

The big risk is that, if finance fails then everything else fails and millions, even billions, of people may die as world supply chains collapse, commerce halts, shortages develop, grocery store shelves empty and people begin starving. In the worst case, infrastructure fails-- possibly including even electricity and utilities which will lead to nationalization of utilities and domestic energy. A FULL STOP of world-wide commerce occurred in late 2008 when the international banking system seized-up. It could happen again for much longer.

Eventually there will be an epic failure of the markets, finance, the economy and possibly a loss of civilization itself manifested by monetary disorder and failures, societal disorder, chaotic internal unrest and probably war on the international level.  In short, more extremes caused by central banks and governments.

Charles Hughes Smith's words ring very true:
We are living the Founders' nightmare, for America is corrupt to the core. While everyone gorging at the public trough bleats about the "common good," their single-minded focus is on aggrandizing as much power and private wealth as possible, and feeding their corrupt crew of insiders, lobbyists, "business interests," bankers and assorted other legalized looters.
America has plenty of law enforcement, prosecutors and prison cells for those who loot a Whole Foods, but none for those who loot the public treasury, commit stock market swindles or financial fraud on a monumental scale. Not only did no one go to prison for the rampant institutionalized fraud of the 2008 looting, a.k.a. the Global Financial Meltdown--the looters were bailed out by the Federal Reserve and Treasury.
More recently, no one was even questioned when a biotech company Moderna issued a press release about a Covid-19 vaccine trial that boosted the stock's price just long enough for insiders to dump millions of dollars of shares on a credulous public and also sell new shares in the company at a premium: a classic looting strategy known as pump and dump.
Members of Congress were caught red-handed in what amounted to insider trading, selling millions of dollars in their stock portfolios based on their secret briefings of the coming pandemic, while they reassured the public Covid-19 was no biggie. The farcical "investigation" found no wrong-doing.
Corruption in our political parties is so endemic nobody even bothers listing it except as a parlor game of pondering which party is more corrupt.
Our ruling elites, devoid of leadership, are little more than the scum of self-interested, greedy grifters who rose to the top of America's foul-smelling stew of corruption. As for the nation's infinitely greedy billionaires, if there was any justice left in America, Apple CEO Tim Cook would be rotting in a cell on Devil's Island for buying back billions of dollars of Apple stock--buybacks were illegal not that long ago.
The cells next to his would be crowded with Big Pharma CEOs who advertised their products directly to consumers--also illegal not so long ago.
America is now a pay-to-play paradise of greed and corruption. The "public good" is a PR cover for legalized looting, much of which now depends on the Federal Reserve's free money for financiers, parasites and predators.

When we look back at the genius of Hamilton, Madison, et al., and Washington's obsession with ethics and promoting national unity, we are forced to weep for the pathetic, venal scum that passes for "leadership" in America today. The feedback loops the Founders designed to restrain the tyranny of corruption have all failed, as the biggest looters serve their interests under the guise of legality.
The Founders' weren't saints; they were flawed as are all humans, and like all humans, they were products of their era. But they did have a keen, abiding sense of the public good, and when they clashed over ideas about banking, the power of the presidency, etc., it was not for personal gain but for their vision of the common good.
If any of America's "leadership" over the past 30 years had an ounce of concern for the common good, why did they enable financialization and globalization to hollow out the nation's economy and social order? Why did they enable the frauds, skims, scams, cartels and monopolies that are the foundation of virtually every American billionaire's "we pay no taxes" empires of greed? 
The tyranny of corruption thrives in an amoral cesspool of anything goes and winners take all.
In today's America, the tyranny of corruption has been so normalized that America's polarized populaces are blind to the profound corruption of their parties and institutions. As in the last days of the Western Roman Empire, the masses are made complicit with bread and circuses, mimicking their "leaders" debasement of the public good to feeding at the public trough.
The following are links to some of my posts that I have done to document my understanding of the extremes of monetary/debt madness in this country, especially from 1971, and how it's corrupting society, and endangering our society, our culture, our country and the world.  I've included some selected paragraphs from those posts in order to try to tell the tale of our ongoing march to an inevitable crisis.

The Big Picture Background


1971: The Beginning of the End--Massive Monetary Disorder (Feb 2020)
"...in 1971, Nixon ended this monetary arrangement which ended gold-backed money. It was done at that time to enable the government to run deficits to fund the Viet Nam war without raising taxes to pay for it. As an immediate result, the US dollar plunged in value and our national debt and inflation began to skyrocket. A falling dollar soon caused the oil exporting countries to sharply raise oil prices in 1974 igniting a budgetary and inflationary spiral.

Then came decades of huge, unsustainable global imbalances in trade and debt, inflation, falling living standards, inequality, monetary disorder, instability, the rise of China, the Petro-dollar, endless wars, the massive military-industrial complex, a leviathan surveillance state, mega corporate monopolies, massive US government growth, government malfeasance and corruption, national de-industrialization, wealth inequality, the Eurodollar rise and fall, widespread US intervention and manipulation in nearly every global nation -- continuing to the present day. All fueled by easy (unsound) money and out-of-control spending."

Extremes in Unsound Money and Finance Will Lead to Catastrophe (Feb 2018)
"The big banks have once again become highly risky hedge funds using your money to gamble with highly leveraged positions in risky derivatives (again) thanks to the repeal of Glass-Steagall. They act with impunity since they have the government's backing when they fail again. Just 10 years ago, the world had a financial near-death experience as derivatives failed, banks failed and markets failed. The world trade come to a halt as finance failed. And here we are again thanks to lobbying money and corrupted politicians. 

Central banks, created to be a lender of last resort in panics, and were charged to control inflation. Now, central bankers are thoroughly dedicated to creating it! And what's worse, inflation is already raging and they don't see it!! These people should be tarred and feathered and run out of town. Personally, I prefer public executions.

The size, cost and ineffectiveness of government has ballooned beyond belief. All of this has led to increasingly unstable business cycles and financial instability, wealth inequalities which favor those who hold securities (the top 10% hold the vast majority of securities such as stocks and real estate), huge and chronic trade deficits and intractable international financial imbalances. Debt, deficits, financial and real inflation, repeated bubbles and the resulting instability (burst bubbles) and deep recessions have serially eroded our economy and culture. The result, in part, is that our society, our culture, our civic order, our work ethic, our moral bearings have all decayed and diminished. Our social contract has also been torn asunder."

We're Reaching the End of the Road (Sept 2016)
"Unsound money ("fiat" money not backed by gold) has led, in recent decades, to huge and unsustainable global imbalances in trade and debt. But because trade deficits REDUCE our nation's GDP, persistent trade deficits in our country have led to rising debt at every level as we try to maintain the "appearance" of a rising standard of living. This is partly why the US ran $10 Trillion in government deficits in the past 10 years alone. Can you imagine what our economy would have looked like without all that money? It would have been outright Depression. (I'm not even going to mention the $4T bank reserve creation by the Federal Reserve). All of that debt is masking depression.

World trade is flat-lining or declining because the non-elite US and Western consumers can't afford the imports. Trump is right about trade. He's right that our economy is hollowed-out by the loss of manufacturing jobs and it has killed jobs and hurt our people. Now the US consumer is tapped-out. Furthermore, demographic trends have turned negative in most of the West and China just like Harry Dent predicted long ago and have slowed the economy.

The persistent budget and trade imbalances over the past several decades could never have happened with "sound" money, as the deficit nation would have seen a loss of gold (money) that would have slowed the economy and reduced imports to a balance with exports. And debt creation would have been severely limited since new money would have to be backed by gold-- and gold is limited. Exchange rates would have been very stable too. That is the beauty of the gold standard. It's also why it rarely lasts."

European Banks and the Euro Will Destroy the World (April 2020)
"Essentially all world trade uses the dollar as the core of virtually all international financial and trade transactions, the Eurodollar market therefore facilitates all of the trading and financial transactions for the international and emerging markets and China. Really, it's the "money" supply and lubricant for world trade.

The "Eurodollar" has developed in past decades as unregulated liquidity that exists on (and mostly off) the large bank balance sheets in Europe and the US. It's really a sort of a "trick" designed to allow banks to skirt regulator's capital requirements. And the regulators, including our Federal Reserve, remain oblivious of what's going on--even now.

The "Eurodollar,"includes all of it's derivatives. Parentheses around "eurodollar" means it's the aggregate of credit default swaps, interest rate swaps, currency forwards/swaps, repos/reverse repos and other derivatives used mainly to facilitate global and financial trade. "Eurodollars" are only backed by "balance sheet capacity" of the European banks. It's a huge "product" of EU banks and it's designed to bypass and skirt capital requirements set by the government. It'a a way that banks can improve profits through higher-than-permitted leverage.

But there are nearly no dollars backing these instruments. It's nearly pure leverage and very unstable in times of crisis -- as we found out in 2008. I'm confident that banks are now attempting to flee these markets again since we're in the Great Financial Crisis #2. But shrinking "Eurodollars" means a shrinking world economy. That's exactly what's happening.

"Eurodollar" liquidity is literally the antithesis of sound money. It's like "internet money." It's pure leverage with no real "backing" except faith in the money center banking system of Europe. But faith in the European banking system has been dropping for decades. If you didn't know better, you might assume that the EU has been TRYING to ruin their financial system. Major EU bank stock (equity) prices are at 30 and 40 year lows, indicating extreme lows of faith and high fear concerning these institutions. Fear is rising as indicated by rising LIBOR rates which are considerably higher than the largely irrelevant Fed Funds rate of 0 to .25%."

The Federal Reserve Destruction of our Nation: Making the Elites Richer and Destroying the Bottom 90%  (May 2020)
"The Federal Reserve is seemingly is an ongoing mission to destroy the bottom 90%.; it's really how the Govt and quasi-Govt Fed. Reserve are destroying the entire country. We just haven't seen violent protesters with pitchforks, Molotov bombs and torches yet --- but it's eventually coming. (Side note: It's here!)

The one lesson that we have clearly learned since the 2008 “Great Financial Crisis,” is that monetary and fiscal policy interventions do not lead to increased levels of economic wealth or prosperity. What these programs have done, is act as a wealth transfer system from the bottom 90% to the top 10%."

Time For A New American Revolution: Burn Down Our Bloated, Failing Central Planning Bureaucracy! (Dec 2015)
"Much of the Federal Government and Federal Reserve "central planning" bureaucracies should be largely burnt to the ground. There are so many failures and it is so expensive that they are threatening our Nation. The "Government" colossus is marching our once-great country to ruin. Anything the US Government touches turns to shit. How can anyone want more of it?? Dismantle it! Devolve power back to the States. Save our nation from financial and social ruin!"

Is the US a Failed State? (Oct. 2017)
"You know we're becoming a 3rd World country when the politicians, the well-connected and the "elites" are immune from the rules that govern everyone else and where the politicians care not one bit about the good of the country but are only focused on their own benefits and agenda of personal gain. This is what happens in dramatically collapsed countries like Venezuela and Argentina. Now it's happening in our own country.

Before and after the election, Democrats have used extensive propaganda, fake polls, fake "dossiers," fake news and/or fake allegations by every "talking head" to get rid of Trump. Since the election, they put nearly all of their eggs in the "Russian Collusion" basket--trying to paint Trump as a traitor who used Russia influence to defeat Hillary. This despite no specific "smoking gun" allegations---only lies (propaganda) from Brennan, Clapper, Powers, Rice, Obama, Hillary, Comey and basically every Democrat. The Democrats demanded and got a special prosecutor to "investigate" their bullshit allegations, all to try to depose Trump.

None of these people care one iota about the welfare of this country or any of the largely helpful Trump agenda for which the PEOPLE voted. The truth is that they don't want any reform to improve the country!

But the whole thing has been a massive and phony charade. The entire Russia collusion allegation was based on a made-up "opposition research" called the Trump Dossier, which, when released, was immediately debunked as it contained obvious inaccuracies. The DNC and Hillary campaign paid $6 or $9 million for this pile of shit (which should prove once and for all that every one of these people should be nowhere near public office or public money!!) Then the hopelessly compromised (and criminal?) Comey used it as a basis to start this whole Russia witch hunt and start the extensive surveillance of the Trump campaign which led to the illegal unmasking of this surveillance by the lying Obama administration. The media went with this fake story too.

It gets worse and even more treasonous. Now we know that Hillary, the DNC and all of her allies in positions of power in the FBI and everywhere else, were the ones in fact colluding with Russians to sell strategic US uranium assets to the Russians for bribes. Then they all colluded to cover-up the whole thing.

Hillary, Obama, Comey, Robert Mueller, Rosenstein and the entire top echelon of the FBI and Obama administration were all part of or knowledgeable about this bribery scheme. Now these same scumbags, Rosenstein and Mueller, are leading this outrageous and treasonous effort to oust Trump?!"

Why Our Economy is in Depression and Will Only Get Worse (Jan. 2018)
"I wrote a blog entitled "We're Reaching the End of the Road" where I laid-out a litany of reasons for why our economy is mired in prolonged recessionary conditions and why things won't be improving anytime soon. I mentioned poor demographics, the declining utility of debt, and the effects of reaching the limits of affordable resources, such as affordable oil, as some of the causes. All these are true and have caused Central Banks all over the world to "pump-up" the money supply to absurd levels, backstopped all markets to maintain desired "wealth effects"and governments have spent borrowed money like never seen before. These emergency measures have continued for 10 years. They are now trying to stop these emergency measures now, but it won't be possible to stop them for long.

Soon, it will become apparent that we're in recession without end; which resembles Depression in duration. It may not be a sharp downturn--since we never had a boom--just a generally slow "sinking" perhaps interrupted for a number of months by the Trump Tax Reform, for example. Think "Japan" for the past 20 years, for example. We're really becoming Japan. This "recession" will not end and emergency spending and "printing"will re-start. Government intervention will only increase. The recession won't end, but the governments may not allow markets to "correct." This is because market declines would worsen the economy and it likely won't be allowed. It's not being allowed even now.

Governments and captive Central Banks have already subverted markets, making them policy tools, by manipulating all of them: first and foremost the bond markets. Governments around the world have manipulated the "risk-free" interest rate (govt bond T-bills) to near zero and below. This itself manipulates all other asset prices. Central Banks have provided a "backstop" to the markets and investors know it. It's causing extreme bubble conditions that will continue. The "appearance" of prosperity must be maintained!"

Our Broken Social Contract? (Sept 2013)
"The "social contract" in America is a two part agreement. The first part is where citizens agree to be governed and support a government for the enumerated Constitutional purposes of maintaining civil government, maintain the rule of law, level the playing field, maintain law and order, provide defense and postal service, etc. This is the 'consent of the governed.' The second part of the contract is that the government has an obligation to the citizens to promote and support the rule of law per the Constitution, keep the playing field level (no one above the law), to spend taxpayers resources wisely, and to function with a minimal corruption."

Start of Acute Instability:  the Repo Crisis in Sept 2019


Rising Risk of Financial and Economic Chaos (Dec. 2019)
"It's possible that we will remember September 16, 2019 as the start of the next acute financial crisis. That day, the overnight rate for overnight inter-bank loans (Fed Funds) soared from the targeted 1.5 to 1.75% rate to 5% or so. It started with problems in the Repo markets that are used by non-banks like hedge funds and other banks for temporary liquidity. Repo distress spilled-over into Fed funds. But, since a sustained rise in Fed Funds rates would crash the financial system, the US Central Bank began an effort to flood the market with liquidity through Repos (very short term loans from overnight to 1 or 2 days to 42 days recently) to satisfy bank/non-bank demand. That Repo demand hasn't calmed down or declined since September, it's accelerated!

This means that the inter-banking transmission system was not working and was/is frozen-up. This is the very definition of a financial crisis. Why? Banks are not lending to other banks possibly because of the counter-party risk of other banks, possibly due to risky banks in Europe or they don't have the money? Either way, the Fed has gone from lender of last resort to lender of FIRST resort especially in Repo. We are left to assume that one or more big banks or financial entities are near bankruptcy--probably in Europe. But The Fed is not saying anything about this, presumably to avoid creating a panic. Even in recent press conferences, Jay Powell is not even asked questions about this by reporters, presumably by agreement with the press to keep this all secret."

Rising Risk of Financial & Economic Chaos, Part 2  (Dec. 2019)
"This Repo crisis is the beginning of the next financial crisis. We are in it. Banks were/are not lending to other banks and/or hedge funds because of the counter-party risk. And The Fed is not explaining anything about this, presumably to avoid creating a panic. Even in recent press conferences, Jay Powell is not even asked questions about this by reporters, presumably by agreement with the press to keep this all secret. Meanwhile the stock market is soaring into bubble territory due to the tsunami of liquidity."

Worldwide Desperation to Avoid Chaotic Unraveling: Manipulated Bubble Markets and Ultimately Failure


"We are clearly in the extreme (and maybe terminal excess) phase of the multi-decade easy money bonanza. The Federal Reserve is once again trapped as lender of first resort in Repo, a market that they rarely enter (except prior to previous burst equity bubbles in years 2000 and 2008). It's becoming clear that they can't exit these markets or the financial system blows up.

Try as they might the Fed will be forced into quantitative easing soon and the markets know it. The stock market is melting-up into uncharted valuations, even exceeding the Dot.com bubble valuations on the back of endless tsunamis of liquidity and confidence in Central Banks. And barely a correction in stocks for 11 years straight! Worse, they must keep the liquidity taps on or else the whole scheme falls apart."

Economic Stagnation Is Causing Unrest And Leading to Collapse (Aug 2017)
"Much of individual's frustration with our country is due to the fact that there are not enough jobs with adequate pay, too few opportunities, and inflation is raging while there is too little money. There is literally no hope because no politician even admits to any problem! If they can't admit that there is a problem, there certainly will be no solution. Janet Yellen keeps saying that everything is rosy while she keeps calling for even more (destructive) inflation! Obama crowed for years that the economy is wonderful. So did Ben Bernanke. Who wouldn't forgive people feeling frustrated? The economy is so bad, who would blame a young person to call for Socialism as an alternative?

Every statistic from the government is a lie. Unemployment is advertised as lowest in decades ('technically' true but basically bullshit). Inflation is raging in the most important areas: healthcare, rent, housing, tuition, food. Obama constantly crowed that the economy is great (it's not), our wars are nearly won (they are all lost), voters are told by presidential candidates that the government will create jobs (nonsense).

This generation, and any future generation, can't afford college now thanks to the still-unchecked Govt loan bubble inflating books and tuition to the moon. This and the next generation can't afford a house since the Federal Reserve has inflated them beyond their reach. The next generation is screwed. No one can afford even a modest medical procedure without being bankrupted, leading to a situation where few can pay their medical bills -- all thanks to the Govt-sponsored medical/pharma cartels and the dominance of Govt spending in medicine."

Crisis and Failure


Major Worldwide Crack-up, Crisis and Depression (March 2020)"... the world, and humanity, is reaching the limits of growth -- growth pushed by rapidly rising debt (unsound money). But low/no growth will make the mountains of debt, accumulated so far, unsustainable since that debt was sold and predicated on enough growth to pay back capital with interest. There comes a point where the debt defaults, the economy collapses and economic depression sets-in."

Now we have another bubble bursting. The result will continue to be Recession Without End .

How Your Money Goes "Poof" to "Money Heaven" (Oct 2019)
"...the world-wide bond market is valued at least $110 Trillion and the world's stock markets are "worth" some $40 Trillion. Losses in a combined stock and bond rout could be something like 70% or $110 Trillion wiped-out in a very short period. $110 Trillion in fiat money would go to "money heaven."

Then, for the real disaster, there is a real possibility that once a bond or stock market rout gets going, you’ll wake up one morning and the stock futures markets are halted limit down! And then stock markets stay limit down for days or weeks and don’t or can’t re-open! When they reopen, they are down 80%. This is not an insane concept. The entire worldwide Central Bank bubble can get wiped-out within months. Scary stuff!

This is how “excess” money goes “poof”. And, in our fiat world, far too much money/credit has been created and will likely go “poof." The world would be instantly be plunged into a deep depression especially with Central Banks understood to be bankrupt."

Modern Civilization As We Know It Is At Risk (Sept 2015)
It's entirely possible that the next financial crisis... will cause such huge disruptions to the financial system that virtually everything falls apart. We are likely entering the 3rd financial crisis in 15 years and it will be even worse than the one in 2008 since debt has only risen across the world since then.

This time, there's no country to ride to the rescue of the world economy as China did in 2009 and 2010. Why? Because even China already has high debt levels associated with financial crises. In fact, China is the epicenter of our current and latest (final?) crisis.

Global trade and payment systems cease to function as banks become widely distrusted or known to be insolvent. Bail-ins of depositor money, like that used in Cyprus, are used to help pay for losses meaning that your money in banks is at risk. Bank runs will cause panic and queues at ATMs.

...Interest rates are already zero in most countries, but they could be manipulated by CBs to go negative as they did in Europe this year, but this will obviously show how desperate the situation has become. Quantitative easing, although proven to hurt more than help, will still be used to the nth degree to fund governments as tax revenues collapse. Easing is the only thing CBs know how to do! This means that governments will buy most or all of their own debt ad infinitum.

But because global supply chains may break down due to distrust of banks and their letters of credit, all of this gov't spending combined with a reduced supply of goods portend a period of high or hyper-inflation. But hyperinflation would lead to a final collapse.

It may be so bad that you and me may not survive. It's possible that the world will not be able to sustain even close to the current 7 billion population.."

Needed: A 2nd American Revolution and a Massive Reset: Eliminate the Federal Reserve and Decentralize Governance


"I’m afraid only financial catastrophe will force the kind of reset that is needed. With that, we need the Federal Government itself to go broke in the next financial crisis (for which, the Government will be rightly blamed). But, with the money printers still in business at the Federal Reserve, there is NO WAY the government can go broke. So, the Federal Reserve has to go. The "bureaucracy" can't be permitted to save itself at everyone else's expense.

The US government going broke is EXACTLY what is required to reset the welfare rot, toughen our ignorant, lazy, entitled population, end the money center ‘hedge fund’ banking cartels, cut down the drastically bloated government bureaucracy, and to create a massive deflation in medical, tuition, defense procurement, housing, rents and all other costs to levels that the people and the nation can afford. This becomes more clearly true when you realize that average incomes are never going to catch up with all the inflated prices if we continue our current path."

BURN IT DOWN!  (Jan 2019)
I'm not a Republicrat or a Democan. I'm a revolutionary-- calling for a revolution! I advocate a 50 to 60% reduction of Federal employees and eliminating and/or outsourcing and/or downsizing and/or privatizing basically every department including defense. In reality, we really need to BURN IT DOWN and start over. This includes burning down the Federal Reserve banking system.

It's pretty obvious that a massive reset is needed since the bottom 90% of worker's wages will never catch up to gov't and Fed Reserve-induced inflation---which is what we've been seeing for decades now. The reset will happen eventually, probably through violent market and political convulsions. Why? Because what we have is unsustainable. We're going to have a depression one way or another!! In some respects we've been in a prolonged "depression" for 10 years already.

That's right, what this nation needs is a big fat ugly depression. And it's just what is needed. But for it to happen, the Federal Reserve needs to be abolished NOW. This way, they can't do all the money "printing" and helicopter money and secret bailouts that prevents a full reset, ie., a huge deflation. We cant allow the Federal bureaucracy to rescue itself at our expense! BURN IT DOWN!