|The Burning of Rome|
Despair is the current state of much of our country. Our young people are ready to embrace Socialism or anything BUT what we currently have. Who can blame them? Young people today have little prospect of affording a house, a car, their own apartment, health insurance or a college education --- as the prices of these important things are inflated to extremes by our Central Bank/Big Government cabal and their sponsored monopolies. Everything in this country is a scam, a racket, a fraud or a hustle.
What we have is not capitalism, as failure is not allowed. Instead,every "connected crony" is bailed-out. What we have is just crony capitalism, not unlike Russia or China.
So strip-mined is our phony economy that wages are peanuts compared to the rising cost of living. Our next generation is royally screwed. The only thing they can look forward to are rides on Uber and a vastly overpriced I-phone. They have no other hope. Even worse, our next generation doesn't even know the hope that is to be found in our great, but now shriveled, religious traditions. Atheism=Ignorance=Despair (see here).
And all this economic damage is due to nearly non-stop "emergency" doses of easy money (super-cheap debt) for the elites, wealthy speculators and corporations that own the government -- all since 2008. So when the Fed "prints" it buys bonds, $trillions of those proceeds are placed on-deposit at the big Wall Street Banks. Since big banks are just giant hedge funds, thanks to the repeal of Glass Steagall in 1999, the bankers take some of those $trillions and put it into the stock market. This is the mechanism that the Federal Reserve and the Treasury use to boost equity prices.
Fast forward to now, like 1999/2000, stock market "pumping" is so extreme that any stock valuation norms are now discarded and speculators are having a fun run of rising equities while the economy is literally in "Great Depression" condition. We have a huge bubble market relative to the real economy. Ominously, Millenials are chasing this market now.
What we learned in December, 2018 and recently is that the markets of corporation credit, high yield credit, ETFs, muni-bonds and stocks are now one $100 TRILLION uni-market that goes up together or crashes together. I noticed this in March 2020 and Dec 2018 when the markets started collapsing, ALL of these markets collapsed together. The "uni-market" is now too big to fail! Pension funds live or die with this uni-market too. This is why the authorities are desperate to re-inflate "it." "It" is a monster bubble that can't be allowed to fall or it takes down the entire world economy.
I was watching a new, interesting and frankly disgusting documentary about Jeffrey Epstein on Netflix the other day. I realized that Epstein, and his nearly unstoppable decades of crimes and rapes is the result of our rotten, corrupted financial system that has now corrupted everything beyond belief. Epstein was able to pay-off or bribe every official at every level of government to make serious charges go away. His victims were left dangling in the wind until the very end. Money kept his corruption under wraps, like it does for countless others. Cough..Clinton..Cough..
Epstein got his initial millions or billions starting at the infamous organization of "financial system-gamers", scammers and defrauders known as "Bear Stearns" in one of the many capitals of financial parasites: NYC. His continued connections to moneyed elites allowed him to buy extravagant compounds in New Mexico, the Caribbean, NYC and Paris. In those locales, he gorged his sexual perversions --mainly manipulating and molesting underage girls---unfettered and immune from prosecution. By the end, his many, many victims described their encounters with him as outright rape.
Epstein is just one of the countless in the cozy fraternity of moneyed elites including financial system parasites from NY: prominent attorneys (Dershowitz for one), presidents (Bill Clinton for one), royalty (Prince Andrew for one) that where able to enjoy a veritable modern Bacchanalia of luxury, excess and perversion worthy of comparison to the most corrupt Roman emperors like Nero or Caligula.
That's where this country is now, like Rome, at the end of a fabulously corrupted empire of greed, perversion, excesses (due to nearly unlimited easy money and currency debasement) causing extreme income inequality and fraud. Nothing is working and everything is hopelessly broken: the judicial system, the federal government, the corrupt/lying media, the stock market scam. Our people, the "non-elites"(the bottom 80%), where many are poor, often hopeless and significantly indebted in order to survive. Interest rates are 0.1% for the moneyed elites, but 17% (and up) for the bottom 80% struggling to survive on credit card debt.
From my important post Extremes of Unsound Money and Finance Are Leading to Catastrophe: We live in a time of utter and complete corruption of government, media, central banks and our political parties. They are corrupted and held hostage by moneyed elites who are manipulating money and government for their ends-- not yours.
Where we are today is due to utter failure of government and central banks, corruption of all elements of government which has led to a moral and intellectual decay of our population. We have a massive and expensive surveillance state, weaponized police and government departments, massive financial deficits and debt with nothing to show for it, bloated money supplies, a hollowed-out economy stripped of entire industries and well-paying jobs, corrupted and lying media outlets spreading nothing but political propaganda and persecution of Conservatives.
Everything in Washington is broken and failed. Nothing is fixed. Much of Washington is plotting to illegally and unconstitutionally overthrow the Trump administration and has been from day one. Despite all the spending, our infrastructure and military has decayed. Our government is interfering with and manipulating many foreign countries -- yet half of our nation is (was) obsessed with a largely non-existent influence of Russia in ours. These people which include the previous administration had been risking war with a country that has 10,000 nuclear bombs. For what??
It's all become this way because we are told nothing but lies by politicians, corporate chieftains, and other elites that everything is fine even though it's obvious that everything is broken. So much that is wrong with our country and the world is due to corrupting power of unlimited and easy money in the hands of the top 1%. Even Trump got it when he railed in his "American Carnage" inauguration speech which I have "corrected" with my comments in parentheses:
Today’s ceremony has very special meaning. Because today we are not merely transferring power from one Administration to another, or from one party to another – but we are transferring power from Washington, D.C. and giving it back to you, the American People.
For too long, a small group in our nation’s Capital (and moneyed elites in the world's financial centers) have reaped the rewards of government (-sponsored extremes of unsound money and unsound finance) while the people have borne the cost. Washington (and all the Elites who are close to the source of massive monetary inflation--banks, hedge funds and moneyed/connected elites like Epstein) flourished – but the people did not share in its wealth.
Politicians prospered – but the jobs left, and the factories closed. The establishment protected itself (and enriched itself to truly obscene levels thanks to central bank and govt largesse), but not the citizens of our country.
Their victories have not been your victories; their triumphs have not been your triumphs; and while they celebrated in our nation’s Capital, there was little to celebrate for struggling families all across our land....
For many decades, we’ve enriched foreign industry at the expense of American industry; Subsidized the armies of other countries while allowing for the very sad depletion of our military; We’ve defended other nation’s borders while refusing to defend our own; And spent trillions of dollars overseas while America’s infrastructure has fallen into disrepair and decay. We’ve made other countries rich while the wealth, strength, and confidence of our country has disappeared over the horizon. One by one, the factories shuttered and left our shores, with not even a thought about the millions upon millions of American workers left behind.
The wealth of our middle class has been ripped from their homes and then redistributed across the entire world.All of this American Carnage is due to unsound money and finance. Corruption of our money leads to corruption and ruin, eventually for everyone,
Our inner cities, mostly black and ruined by government failures and the resulting moral decay, are like burned-out hulks of a previously high-level civilization as if we're replaying some dystopian movie like Robocop or Planet of the Apes complete with murder, crime, gangs and massive decay. Our status quo is completely and utterly unsustainable.
We also live in a time of nothing but massively unsound finance and banking thanks to the failures of our Central Bank and the corrupted government. Even our current concept of money is completely corrupted. It's as if no one alive even knows or remembers what sound money or sound finance is.
Brace for impact. This bubble could blow at any minute. Global peace may be shattered at any minute. Markets may fail and collapse to reflect the real economy in any minute. Brace! brace! brace!