In an almost unreal situation, dementia-addled Joe Biden and the proven "biggest-loser" Kamala Harris are close to "winning" the 2020 election. What's amazing is how Joe hid in his basement nearing the entire campaign season. "The plan" was for him to stay hidden even during the last week of campaigning, but Trump was having dozens of gangbuster rallies with massive attendance and enthusiasm. So Joe and Kamala hit the campaign trail at the end and spoke to empty fields and empty venues. Cher try to cheer on a handful of Biden supporters in Las Vegas before she gave up entirely in just 10 or 15 minutes. No one was there. Meanwhile Trump had a reported 57,000 followers show up outside of Pittsburgh.
During election night as Trump saw comfortable leads in all of the toss-up states, then suddenly counting was discontinued in all these states! Mere hours later, in the middle of the night, suddenly those leads were dramatically reduced with 10,000s of ballots for Biden (only) were produced. Countless other irregularities are also reported.
It appears to me that the fix was in for Biden/Harris all along. Why else was their campaign strategy to stay out of sight and out of scrutiny for virtually the entire campaign?? The answer is presumably so as to not embarrass themselves with gaffes and stupidity. These people and their handlers are the most stupid, conniving, corrupted and incompetent people on the earth and they are about to take the White House and maybe the government. The Deep State is firmly in control of this country.
Speaking of total corruption, the US media complex was entirely successful in killing the convincing evidence that the Biden's are compromised and/or beholden to the Chinese Communist Party with sweetheart deals and/or bribes --- not unlike Hillary's massive pay-to-play scheme. Again, 1/2 of the nation was left uninformed. No need to even bring up the Burisma corruption. Apparently this behavior is not illegal. Presumably it's going on in both political parties, but not during Trump's administration. After countless investigations, Trump has proven to be the most spotless, upstanding and honest dealing candidate ever. Every accusation against him has been disproven. He's basically passed every test. There may never be another one like him.
A near total collapse of competence in corporate governance and the US government is worsening. The government sectors can't do anything right, including counting votes in an election. So, this election is royally screwed-up. The "government" cannot even remotely manage our immigration "system" or even track those persons visiting on visas. It's total and utter incompetence and $100s of billions are spent on a vast number of employees to accomplish LESS than nothing.
See my prescient 2016 post Time For A New American Revolution: Burn Down Our Bloated, Failing Central Planning Bureaucracy!. It's definitely worth a re-read. I said:
"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!"
US government statistics are becoming as bad as China's with falsified economic numbers, especially inflation. Virtually nothing is working in "government" except the redistribution of $trillions to elderly and welfare recipients and massive payments to the military, medical and pharmaceutical cartels and it's own unionized "workers" who sit around all day watching Pornhub.
But the government doesn't even have the money to redistribute, so the Federal Reserve is "printing" or creating excess reserves in the banking system in an asset swap to buy Treasuries to fund the government. This is a well known trick of diluting the monetary aggregates in a way that doesn't produce inflation right away. Since it's been proven that the Federal Reserve's excess reserves CANNOT be reduced, those reserves remain in the hands of the top 0.01% to do as they please and enrich themselves fabulously. Eventually, those reserves will leak out into markets or loaned-out to the crony-capitalists. Eventually inflation will appear (I realize that it hasn't happened yet, except for financial asset inflation).
The massive amount of debt written in recent decades, now totally unsustainable in a slow-growth environment, has to default to a more sustainable level. This will blow-up the entire world economy in a massive financial, economic and humanitarian crisis. In fact, analysts at Deutsche Bank said the following:
"..the global financial system remains broken and extremely fragile. Secular stagnation trends are everywhere. The world has too big a debt burden for the current growth environment. We would feel far more comfortable if the world went through a huge creative destruction period where zombie, inefficient debt was allowed to default - thus 'right-sizing' the ratio between debt and GDP. However we've long accepted that this is highly unlikely to happen outside of perhaps a future break-up of the Euro."
The US government is ruining our economy and our society! Stagnating incomes coupled with inflation of health care, rent, college tuition, even defense procurement costs are all the result of government spending or policy. Rising rents are caused by zero interest rates engineered by the Federal Reserve, who have created a new housing bubble that is pricing out a new generation of buyers and hurting the economy. If you can't buy, you must rent. But even the price of renting is a severe hardship to many, many people. It's really a catastrophe as record high house prices aren't sustainable at "normal" interest rates. The geniuses, the educated idiots like Bernanke and Yellen, haven't thought about what happens when rates and mortgage rates rise again with record high house prices? No one can afford anything! "Government" is CAUSING THIS!
The government-funded tuition bubble has also priced-out the next generation. It's also loaded-up millions of young people with unsustainable debt that is already collapsing.
Meanwhile debt at all levels, and across the world continue to pile-up with no end in sight. Perhaps, like Japan, the US will be able to skate by and double our national debt (once again) in the coming decade or so. It's possible. But peripheral countries like Nigeria, Venezuela, Italy, Portugal, Russia and many, many other countries can not sustain stagnated economies coupled with higher debts. Something will break. Sovereign debt defaults will bring down the banking system in Europe and start the end-game crisis.
From my April 2020 post Our Dystopian Future: Recession Without End
|Figure 1 US GDP After the GFC in 2008 |
Shows Organic Contraction
In my post Why Our Economy is in Depression and Will Get Worse, and We're Reaching the End of the Road, I mention a number of reasons for why our economy has already been mired in prolonged recessionary conditions and why things won't be improving anytime soon. For instance, I've pointed out that if you subtract government spending that was funded by debt, US GDP has actually contracted since the first Great Financial Crisis (GFC).
Figure 1 shows that the US GDP has shrunk by $5.9 Trillion since 2007, if you back out debt-financed spending in the government sector alone. This is Recession Without End (otherwise known as "Depression").
I wrote in 2016 America's March to 3rd World Status, Then Collapse
"The key thing about the march to 3rd world, is when politicians will say or do anything to stay in power and don't give a shit about the good of their country. This is made worse when the media is in bed with these very people and act as their propaganda apparatus to "cover up" the truth.
Crisis is coming to our country and world and it's being brought to you by failed politicians and horrible central bankers. It's "baked-in." Crises have already enveloped many countries in Latin America, Africa, and the Middle East. Crisis always starts at the periphery and works toward the core. Next will be Europe and Russia [should have said China]. The Brexit vote is signaling EU political and financial collapse there in the months ahead. China is drowning in bad debts--- debts taken out to literally "save the world" in 2009 until 2014. Massive devaluations in China will reverberate around the world. Banking crises in Europe will bring back financial crisis conditions soon to the entire world. I don't see a way out as everything is so broken."
I don't see a way out since everything and EVERYONE is so corrupted and broken. Biden and Harris will not only be able to do nothing to stop the oncoming train, THEY ARE THE TRAIN.