So, the financial sector essentially makes its money not by being part of the production and consumption economy but by siphoning off as much money from the production and consumption economy as it can for real estate, for insurance and for debt service and banking services. The insurance, of course, would include the health insurance.
The result is that Americans have to spend so much of their money now on housing. Up to 40% to 43% of their income goes for housing as opposed to 25% back in the 1940s,’50s and ‘60s . They have to pay huge amounts for medical insurance.
And the taxes have been shifted off real estate, off of finance onto labor and industry. So you have America really being unable to revive its industry today. Because how can you create an export industry or even compete with foreigners when you have to pay such high housing costs, such high medical insurance and healthcare costs instead of the government taking over, such high debt service. If you got all of your clothing and food and basic needs for nothing you still couldn’t compete with foreigners because of all of these FIRE sector – finance, insurance and real estate – costs.
Now the job of the government under industrial capitalism was all spelled out in the late 19th century in the United States. For instance, by Simon Patten, who was the first Professor of Economics at the first business school, the Wharton School at the University of Pennsylvania. And Patten said that public infrastructure was a fourth factor of production. And the role of the government was to provide basic needs like healthcare, education, transportation and other basic services at very low price so that you lower the cost of doing business. You lower the cost of living so that the private sector will be able to compete with foreign countries.
The reason is all of these extra costs that are paid by labor and by employers that are borne by governments in other countries. So as long as essentially America’s dismantling the government, what you’re dismantling is the basic means of subsidizing industrial production and manufacturing. And that’s what’s left America in a high cost position and driven American industry abroad without any idea of how to create a national economy that makes it profitable to invest in industry here.
So most of the American cost structure has nothing to do with the cost of production and therefore nothing to do with industry or industrial capitalism. It’s a fall back into a kind of post-medieval rentier economy...
And the function of these monopolies… the reason their stock prices are going up so much is because they’re setting the price without any anti-monopoly legislation such as you had under the Sherman Antitrust Act of 1890 and then Teddy Roosevelt as a trust Buster. Essentially, since the 1980s you have not had any anti-monopoly prosecutions at all...
All the tricks to hide our unaffordable cost structure have reached marginal returns. Reality is about to intrude.
There is much talk of tyranny in the political realm, but little is said about the tyrannies in the economic realm, a primary one being the tyranny of high costs: high costs crush the economy from within and enslave those attempting to start enterprises or keep their businesses afloat.
Traditionally, costs are broken down into fixed costs such as rent and fees which don't change regardless of whether business is good or bad, and operating costs such as payrolls, fuel, etc. which rise and fall with revenues.
To some degree, this division no longer matters, because the entire cost structure of our economy is tyrannically high: if rent, insurance, taxes and general overhead don't eat you alive, then labor overhead (healthcare insurance, etc.) and other operating costs will...
Since healthcare, higher education, local government, etc. is unaffordable, let's print money and give it away as the "solution" to unaffordability. This faux "solution" merely transfers the rising risk of collapse to the entire economy.
Spoiler alert: I did not make it inside the Capitol, but I was in the first 25% wave of people that arrived, and like 99.9% of those around me, I jubilantly participated in a peaceful “storming” of the Capitol...
On arrival to the Ellipse where Trump would speak, I can say based on many Washington marches under my belt that the Save America rally’s turn-out was spectacular. I heard reports of a million plus present. We will likely never get an official crowd estimate from the National Park Service.
I’ve been to marches large and small, but I don’t recall encountering such a polite, well-mannered crowd. Bill had been to a prior Trump rally and Jim had been to three (Johnstown, Trump’s hospital vigil, November 3).
They said every rally is the same: uncommonly good, nice people. I figured their love of Trump colored their characterization of the President’s base. But I discovered at the rally that it’s an actual thing: Trump supporters are by and large decent, down-to-earth, genuine people...
As expected, there were a lot of Christians in the crowd, some of whom I had great talks with. I’m not a Christian, but I respected their deep faith and the fact that Christians I’ve been meeting of late (not Zionist Christians) are intensely engaged with the pressing political issues of our age...
I was really taken aback by the conspicuous absence of a police presence. Every major march I’ve been to, the streets are fully lined with police, sometimes on horses. I remember being terrified once at a New York City protest when a cop on an enormous steed charged into us demonstrators.
We smelled tear gas and heard flash-bang grenades going off in the distance, but very soon the disturbance fizzled and the unruffled crowd paid no more attention to the possibility of violence—especially since no reinforcements came at all until we left the event at 4:00pm. It was at that time—finally—that police cars began converging on the site as we were walking away.
For some, entering the Capitol was very easy. I talked to a young Asian man who couldn’t believe how easy it was to enter the building...
Because the vast majority of the crowd was not engaging in violence, I suggest that there was a Charlottesville-type situation in which Antifa types violently breached the Capitol despite filmed instances of Trump supporters trying to stop them.
Did you know that Biden has often boasted about being the original author of the US Patriot Act?
The first draft of the civil rights-eroding USA PATRIOT Act was magically introduced one week after the 9/11 attacks. Legislators later admitted that they hadn’t even had time to read through the hundreds of pages of the history-shaping bill before passing it the next month, yet somehow its authors were able to gather all the necessary information and write the whole entire thing in a week.
This was because most of the work had already been done. CNET reported the following back in 2008:
“Months before the Oklahoma City bombing took place, [then-Senator Joe] Biden introduced another bill called the Omnibus Counterterrorism Act of 1995. It previewed the 2001 Patriot Act by allowing secret evidence to be used in prosecutions, expanding the Foreign Intelligence Surveillance Act and wiretap laws, creating a new federal crime of ‘terrorism’ that could be invoked based on political beliefs, permitting the U.S. military to be used in civilian law enforcement, and allowing permanent detention of non-U.S. citizens without judicial review.
Today I am announcing that I am lifting all of these self-imposed restrictions. Executive branch agencies should consider all "contact guidelines" regarding relations with Taiwan previously issued by the Department of State under authorities delegated to the Secretary of State to be null and void.
We sell politics in American media as a soap opera, and the personalities make for lively copy, but properly following the bouncing ball means watching institutions, not characters. Where are armies, banks, central banks, intelligence services, the press? Whose money is talking on the floor of the House and the Senate? How concentrated is financial and political power? How do public and private institutions coordinate? When they coordinate, what are their collective aims? How transparent are they or aren’t they? How accountable?
Dr Aseem Malhotra, a cardiologist and writer, has been disappointed over an absence of leadership to ensure people of colour have sufficient levels of the nutrient. “Structural racism absolutely has an effect,” he says. “But it should not be at the forefront of the conversation. The message should have been: ‘Everyone take vitamin D and cut out the junk food.’ I think it’s a no-brainer, because there is no harm from vitamin D and it’s cheap. It’s pretty scandalous that this hasn’t been dealt with until now.”
Davis now believes there will be increasing government focus on immunological health. “Covid kills you if you’ve got a weak immune system,” he says. “That’s why vitamin D has a much more general purpose effect than, let’s say, vaccines. We’re going to win this battle in the long run. I just feel for those who have died unnecessarily.”
D-Day


