Economic Participants,
Surplus Energy Economics , The Elixer of Alternative
The search for the fabled “elixir of life” goes back at least as far as the second millennium BC. Right now, though, many would settle for the elixir of alternative. For investors, that would be somewhere safe to park their money when the “everything bubble” in asset prices bursts, as, of course, it will. For many more, the “elixir of alternative” would be the discovery of replacements for the tired, self-serving, failed incumbency systems that have been making the wrong decisions on our behalf for a very long period of time.
These issues are, of course, connected – a financial crash will have profound effects on the distribution and nature of wealth and power.
Whatever else might be said about them, the markets have turned into sources of harmless entertainment for non-participants of all ages. No fad seems to be too wild for hapless investors to pour money into it. Numerous over-hyped stocks have collapsed from absurdly inflated prices. Manias for cryptos, NFTs and – most recently – ‘anything AI’ are symptoms of investors’ quest for the ‘elixir of alternative’.
It’s one thing to make a case for selling stocks and real estate, but quite another to find something else to buy instead. What sector, or stock, or alternative asset class, can offer protection against the crunch that we know is coming, and what investment can be “as safe as houses” when all the conditions for a property price crash are in place?
The prices of traditional but ‘unsexy’ safe haven assets – such as gold – may yet turn out to be the best available lead-indicator for the onset of the market vertigo which precedes all-out panic...
..If you’ve been visiting this site for any length of time, you’ll know that the “financial” economy is an operating system for the “real” or material economy of products and services.
We ignore the material at our peril, and should not conflate the “laws” of economics with the real scientific laws of physics. The so-called “laws” of economics are really nothing more than behavioural observations about the human artefact of money. We must, as a matter of necessity, be selective and sceptical in our use of the tenets of the economic orthodoxy.
Where the economy is concerned, the applicable laws are those of thermodynamics. Energy cannot be created or destroyed, but it can be transformed from a dense to a diffuse state.
That’s how the material economy works. We use energy to convert raw materials into products, a process which is paralleled by diffusion of energy from dense forms into waste heat, the latter containing climate-harming gases when the dense input is sourced from carbon fuels. Given that most products are destined for rapid disposal, the material economy is thus a dissipative-landfill system...
..Most of the “growth” of modern times has thus been a sleight-of-hand trick based on credit expansion. The giveaway here is that GDP doesn’t measure economic output, but the very different concept of the transactional use of money. Moreover, formal debt increasingly understates the true scale of liabilities, as it excludes the NBFI (“shadow banking”) component, and the ever-rising “gaps” in the adequacy of pension provision... We ignore the material at our peril, and should not conflate the “laws” of economics with the real scientific laws of physics. The so-called “laws” of economics are really nothing more than behavioural observations about the human artefact of money. We must, as a matter of necessity, be selective and sceptical in our use of the tenets of the economic orthodoxy.
Where the economy is concerned, the applicable laws are those of thermodynamics. Energy cannot be created or destroyed, but it can be transformed from a dense to a diffuse state.
That’s how the material economy works. We use energy to convert raw materials into products, a process which is paralleled by diffusion of energy from dense forms into waste heat, the latter containing climate-harming gases when the dense input is sourced from carbon fuels. Given that most products are destined for rapid disposal, the material economy is thus a dissipative-landfill system...
..Back in 2008-09, we didn’t like what market forces were about to do, so we put them on hold.
Without a rationale of government, the conduct of economic affairs has degenerated into a condition of ‘make-it-up-as-we-go-along’, ‘grab-what-we-can’ opportunism. The ‘powers that be’ adopted ultra-loose credit supply policies (“credit adventurism”) from the 1990s, hoping that this would cure “secular stagnation”. When, as of 2008, its failure had led us into systemic crisis, the resort to “monetary adventurism” was made without any consideration of what this might mean for inequalities of wealth and income.
The realities now are that economic trends – ludicrous asset valuations, debts and quasi-debts at stratospheric levels, the deceleration (and unfolding inflexion) of the energy-powered material economy, and rises in the real costs of energy-intensive necessities – are pointing straight towards a combination of financial crash and worsening social dysfunction.
Without a rationale of government, the conduct of economic affairs has degenerated into a condition of ‘make-it-up-as-we-go-along’, ‘grab-what-we-can’ opportunism. The ‘powers that be’ adopted ultra-loose credit supply policies (“credit adventurism”) from the 1990s, hoping that this would cure “secular stagnation”. When, as of 2008, its failure had led us into systemic crisis, the resort to “monetary adventurism” was made without any consideration of what this might mean for inequalities of wealth and income.
The realities now are that economic trends – ludicrous asset valuations, debts and quasi-debts at stratospheric levels, the deceleration (and unfolding inflexion) of the energy-powered material economy, and rises in the real costs of energy-intensive necessities – are pointing straight towards a combination of financial crash and worsening social dysfunction.
Those expecting some centralized, political-administrative "solution" will be disappointed, as the political-administrative "solution" is actually the problem.
The Ministry of Failure is hiring, as their decades-long expansion is accelerating. You probably don't know about the Ministry, but you see its handiwork everywhere. The principle behind the Ministry's existence and its raison d'etre is simple: failure is more profitable than efficiency.
The greater the inefficiency and the higher the failure rate, the fatter the budgets and profits. Consider the permit process: the longer it takes, the more revisions and hoops the applicant must go through and the higher the late fees and penalties for non-compliance, the fatter the budget of the agency and the fatter the compensation of the administrative staff. Inefficiency is more profitable than efficiency.
The greater the inefficiency and the higher the failure rate, the fatter the budgets and profits. Consider the permit process: the longer it takes, the more revisions and hoops the applicant must go through and the higher the late fees and penalties for non-compliance, the fatter the budget of the agency and the fatter the compensation of the administrative staff. Inefficiency is more profitable than efficiency.
..All of this bloat and inefficiency has been papered over with an equally explosive rise in borrowed money. All the gross inefficiencies, skims, scams and administrative bloat have pushed costs higher, and so the Ministry has worked with the political class and the Federal Reserve to flood the economy with "free money" borrowed into existence by the Fed and the federal government...
Court Moves to End Govt Censorship by Proxy in Social Media
The U.S. Court of Appeals for the 5th Circuit ruled the Biden White House and the FBI violated the First Amendment by improperly driving social media companies’ decisions to remove or suppress posts on Covid and election topics. The ruling is a step toward bringing social media under the umbrella of the First Amendment and ending proxy censorship, and sets up a major Supreme Court battle over the censoring free speech as demanded by the Biden administration.
Specifically, the appeals judges wrote the “White House, the CDC, the FBI, and a few other agencies urged the platforms to remove disfavored content and accounts from their sites. And, the platforms seemingly complied. They gave the officials access to an expedited reporting system, downgraded or removed flagged posts, and deplatformed users. The platforms also changed their internal policies to capture more flagged content and sent steady reports on their moderation activities to the officials. That went on through the COVID-19 pandemic, the 2022 congressional election, and continues to this day.”
The judges wrote the White House “coerced the platforms to make their moderation decisions by way of intimidating messages and threats of adverse consequences.” They also found the White House “significantly encouraged the platforms’ decisions by commandeering their decision-making processes, all in violation of the First Amendment.”
As of right now, the Party of Chaos is living up to its name. They continue to present an obviously false and ridiculous consensus among themselves that “Joe Biden” is running for reelection. In fact, “the Big Guy” is about to get run through a wringer of the most abject public disgrace as his already-well-known crimes of bribery and treason get conscientiously laid out for all to see with cold and implacable decorum. Even the mind-fucked spawn of the Ivy League, toiling away on their CIA-owned newspapers and cable news networks, might find themselves forced to spin their narrative in a new direction.
“Joe Biden” is now a monumental embarrassment and a liability to our country, let alone to the degenerate party that owns him.
RFK Jr. Met With Libertarian Party Chair Over the Summer: Report
The chair said she and Kennedy plan to stay in touch 'in case he does decide to run'
The flight has become the major conduit for Africans who see the chance to enter the United States at the Mexican border
It is sold out every day as thousands flock to the United States under President Joe Biden's border policies
From Bogota the migrants will make their way to Nicaragua where lax immigration rules allow them in and authorities rarely check on their movement
Transcript. “Human Trafficking: NYC ‘Migrant Hotel’ Whistleblower Speaks Out”
"We're In The Middle Of A Revolution" - Victor Davis Hanson Warns Tucker: "The Next 12 Months Will Be The Most Explosive In History"
It was confirmed in court that the FBI was behind the document and and FBI operative was the author of the document.
The mysterious document was sent unsolicited to Proud Boy Chairman Enrique Tarrio’s Telegram right before January 6th by a “love interest” named Erika Flores.
Flores reportedly testified to the January 6th Committee that A GOVERNMENT OFFICIAL was the author of the entirety of the “1776 Returns” and that this FBI and CIA member or associate asked her to share it with Tarrio!
Tarrio was charged with Seditious Conspiracy and was later found guilty along with four fellow members of the Proud Boys. Enrique Tarrio was sentenced to 22 years in federal prison for planning the entire “seditious conspiracy.” We now know that it was the FBI who was behind the conspiracy.
Is World War III About to Start? Part II: Are the Military-Industrial Complex and Deep State Driving Us to War?
In January 2022 the USA put forward a dozen new amendments to be considered by the 194 members of the WHO at its annual meeting in May 2022. These proposals essentially would have given the WHO more centralized power and speed up the adoption of new treaties and amendments to existing International Health Regulations. While the EU nations and other US allies came forward to support them, there was considerable pushback and most of the amendments were withdrawn and not put to a vote in 2022. But some remained, and were adopted without a vote after back room negotiations.
These amendments to the existing International Health Regulations reduced the time for new amendments to go into effect from 24 months to 12 months. The initial proposal was to reduce the time period during which nations could issue a formal opt-out to new amendments from 18 to 6 months. That did not fly, so a compromise was reached, giving nations 10 months to reject future amendments before being bound by them. Any amendments adopted next May will come into force 12 months later and will have a 10 month period during which nations can opt out.
The Working Group for amendments to the International Health Regulations (WGIHR) revealed that they are unlikely to meet their deadline, so they are trying to reinterpret Article 55 of the IHR.
Specifically, the appeals judges wrote the “White House, the CDC, the FBI, and a few other agencies urged the platforms to remove disfavored content and accounts from their sites. And, the platforms seemingly complied. They gave the officials access to an expedited reporting system, downgraded or removed flagged posts, and deplatformed users. The platforms also changed their internal policies to capture more flagged content and sent steady reports on their moderation activities to the officials. That went on through the COVID-19 pandemic, the 2022 congressional election, and continues to this day.”
The judges wrote the White House “coerced the platforms to make their moderation decisions by way of intimidating messages and threats of adverse consequences.” They also found the White House “significantly encouraged the platforms’ decisions by commandeering their decision-making processes, all in violation of the First Amendment.”
https://wemeantwell.com/blog/2023/09/30/court-moves-to-end-govt-censorship-by-proxy-in-social-media/
Jim Kunstler, Three Way?
You have to wonder what took Bobby Kennedy, Jr. so long to recognize that the Democratic Party was a home that he had long ago been turned out of, like a dog that has peed on the carpet too many times. At the end of last week, Mr. Kennedy intimated that he might run for president on an independent line. If he manages to get that line on the state ballots — and you can easily imagine New York and California trying to thwart him — it will change all the current calculations about the 2024 election. As of right now, the Party of Chaos is living up to its name. They continue to present an obviously false and ridiculous consensus among themselves that “Joe Biden” is running for reelection. In fact, “the Big Guy” is about to get run through a wringer of the most abject public disgrace as his already-well-known crimes of bribery and treason get conscientiously laid out for all to see with cold and implacable decorum. Even the mind-fucked spawn of the Ivy League, toiling away on their CIA-owned newspapers and cable news networks, might find themselves forced to spin their narrative in a new direction.
“Joe Biden” is now a monumental embarrassment and a liability to our country, let alone to the degenerate party that owns him.
RFK Jr. needs to get on the ballots in all 50 states. The Libertarian Party can do that. They did it in 2020.
The chair said she and Kennedy plan to stay in touch 'in case he does decide to run'
News of the meeting comes after Kennedy made comments suggesting he has not ruled out a third-party run for the presidency amid his frustrations with the Democratic National Committee.
A representative from the Kennedy campaign said there was "no truth" to the proposition that Kennedy would make a third-party bid as a libertarian.
“We have not sought the favor of any other political party,” Kennedy's campaign manager Dennis Kucinich said.
Kennedy disagrees with many Democrats on key issues, and many lawmakers have criticized Kennedy for spreading conspiracy theories and vaccine skepticism.
A representative from the Kennedy campaign said there was "no truth" to the proposition that Kennedy would make a third-party bid as a libertarian.
“We have not sought the favor of any other political party,” Kennedy's campaign manager Dennis Kucinich said.
Kennedy disagrees with many Democrats on key issues, and many lawmakers have criticized Kennedy for spreading conspiracy theories and vaccine skepticism.
Suddenly Big Business:
EXCLUSIVE: On board the Biden Express - Dailymail.com joins the throng of African migrants on daily sold-out Flight TK800 from Istanbul to Bogota as they make their way to our southern borderThe flight has become the major conduit for Africans who see the chance to enter the United States at the Mexican border
It is sold out every day as thousands flock to the United States under President Joe Biden's border policies
From Bogota the migrants will make their way to Nicaragua where lax immigration rules allow them in and authorities rarely check on their movement
Please read or view this first hand account. Remember the Mariel Boatlift, when Castro sent all the Cuban criminals to Florida? Thanks Travis.
Human trafficking: Kyle Seraphin speaks with “migrant hotel” NGO whistleblower Carlos ArellanoTranscript. “Human Trafficking: NYC ‘Migrant Hotel’ Whistleblower Speaks Out”
Historian Victor Davis Hanson sat down with Tucker Carlson to discuss his perspective on the current political climate in the US, asserting that American liberalism is characterized by dishonesty, and warning about what he sees as liberal efforts to introduce a highly intolerant age.
"It's hard for most Americans to comprehend the total dishonesty of American liberalism."
VDH says Trump represents a significant threat to the specific vision held by liberals, who are employing a "critical legal theory," in which traditional moral values are abandoned in favor of whatever gains power...
"It's hard for most Americans to comprehend the total dishonesty of American liberalism."
VDH says Trump represents a significant threat to the specific vision held by liberals, who are employing a "critical legal theory," in which traditional moral values are abandoned in favor of whatever gains power...
.."We're in the middle of a cultural, economic, political revolution," but "we think that we’re still playing within the same sidelines or parameters, and we’re not. Everything’s under negotiation.”...
.."You need leaders who will tell people we are in a Jacobin takeover of this country, and the old get along at any cost does not work,” Hanson said.
"I hope everybody can keep their head because I think the next 12 to 18 months are going to be the most explosive in our history since the Great Depression."
Now There is Evidence the FBI Planned the January 6 Operation and Planted Documents Days Earlier That Were Later Used Against Innocent Americans
The 1776 Returns document is the title of a 9-page paper that outlined strategic plans for the takeover of US government buildings on January 6, 2021."I hope everybody can keep their head because I think the next 12 to 18 months are going to be the most explosive in our history since the Great Depression."
It was confirmed in court that the FBI was behind the document and and FBI operative was the author of the document.
The mysterious document was sent unsolicited to Proud Boy Chairman Enrique Tarrio’s Telegram right before January 6th by a “love interest” named Erika Flores.
Flores reportedly testified to the January 6th Committee that A GOVERNMENT OFFICIAL was the author of the entirety of the “1776 Returns” and that this FBI and CIA member or associate asked her to share it with Tarrio!
Tarrio was charged with Seditious Conspiracy and was later found guilty along with four fellow members of the Proud Boys. Enrique Tarrio was sentenced to 22 years in federal prison for planning the entire “seditious conspiracy.” We now know that it was the FBI who was behind the conspiracy.
McCarthy Out Today? House To Vote On Gaetz Motion To Vacate After 'No Deal' Struck With Dems
According to the Guardian, Gaetz and his allies have the votes to remove McCarthy.
In a notice to lawmakers, Democratic whip Katherine Clark’s office said votes on the motion to vacate Kevin McCarthy from his position as speaker of the House could take place “at any time after the House convenes at 12:00 p.m. today.”
Before voting on the motion itself, McCarthy’s allies may move to table the proposal, which, if successful, would block the motion to vacate, and save McCarthy’s speakership. That would need a simply majority to pass, and, the way the numbers are looking now, can’t be achieved without Democratic help.
"Members should keep their schedules flexible and be prepared to vote at the appropriate time," reads the notice.
Gaetz and his Freedom Caucus allies were livid on Sunday after it emerged that McCarthy had made a secret side-deal with Democrats for more Ukraine funding, in exchange for passage of a continuing resolution that will keep the government running through mid-November.
In a notice to lawmakers, Democratic whip Katherine Clark’s office said votes on the motion to vacate Kevin McCarthy from his position as speaker of the House could take place “at any time after the House convenes at 12:00 p.m. today.”
Before voting on the motion itself, McCarthy’s allies may move to table the proposal, which, if successful, would block the motion to vacate, and save McCarthy’s speakership. That would need a simply majority to pass, and, the way the numbers are looking now, can’t be achieved without Democratic help.
"Members should keep their schedules flexible and be prepared to vote at the appropriate time," reads the notice.
Gaetz and his Freedom Caucus allies were livid on Sunday after it emerged that McCarthy had made a secret side-deal with Democrats for more Ukraine funding, in exchange for passage of a continuing resolution that will keep the government running through mid-November.
Andrew Korybko writes on shifting European power politics within NATO "alliance":
Morawiecki Suspects That Zelensky Struck A Deal With Germany Behind Poland’s Back BRICS nations are not pursuing aggressive policies, despite Western propaganda, as they view time as being on their side. Naturally they refuse the “reserve currency” prerogative which allows G-7 countries to siphon hard earned wealth from the rest of the world. The most worrying aspect for the U.S. is the obvious intention of BRICS to foster trade exchanges in local currencies, bypassing the primacy of the dollar, and secondarily the Euro.
According to Stephen Jen, CEO of Eurizon SLJ Capital Ltd. and former IMF/Morgan Stanley economist, “The dollar share in foreign reserves has lost about 11 percent since 2016. The decisive event has been Western sanctions and the freezing of Russia’s dollar reserves.” He adds: “Taking purchasing power into account the BRICS nations currently account for 32 percent of global economic output, compared to 30 percent covered by the G7 countries.” This differential is bound to worsen as new nations are added to BRICS.
As BRICS, ASEAN and other countries increasingly trade in national currencies in lieu of Western reserve currencies, this results in weakening of those Western currencies, as evidenced by the drop in their purchasing power, aka inflation. Over time, the standards of living commensurate with the production of tradable goods will result in growing poverty in the U.S. and the EU that will result in social instability. But the damage will fall largely to the lower income echelons, resulting in growth in an already unsustainable wealth disparity, with the GINI factor for wealth distribution in the U.S. reaching 0.85 in 2020.
This explains several observations:
Why BRICS do not find it necessary to issue a new currency: Trade in national currencies will bring an end to the wealth siphoning mechanism of U.S. dollar hegemony.
Why Russia and China are trying to maintain non-confrontational policies despite provocations: As trade away from the U.S., UK, and EU increases with growing use of national currencies, political instability, particularly in the most de-industrialized Western nations, will result. Social discontent and political instability can already be witnessed throughout the West. This will only increase as impoverishment spreads due to depreciating currencies, leading to eventual implosion of the neoliberal political system. Thus Russia, China, and other sovereign nations have adopted a policy of “wait it out” rather than risk a kinetic war which would result in the deaths of millions. Nevertheless, these countries are embarking on an accelerated program of military development, along with strengthened alliances, in case war is inevitable.
Why the West is embarking on highly aggressive policies: The neoliberal cabals in control of the West realize that the changes occurring in the world, particularly as regards the monetary and financial global architecture, spell their doom, and hence are increasingly acting hysterically, fomenting conflict and chaos wherever they can.
It is dollar hegemony, dating back to the World War II-era Bretton Woods Agreements and the Nixonian removal of the international currency gold peg, that has allowed the U.S. to attempt overcoming its massive trade deficit and its public debt at $33.1 trillion and growing. Only by selling trillions of dollars of Treasury bonds to foreign countries, especially China, Japan, and Korea, has the U.S. been able to straddle the globe with the hundreds of military bases and other facilities it relies on to secure a world order friendly to its interests. For decades, foreign countries have needed dollars to trade in petroleum and other commodities. But with BRICS, that imperative may end sooner rather than later. Secretary of the Treasury Janet Yellen has said this will never happen, but other policy makers are seeing the writing on the wall.
According to Stephen Jen, CEO of Eurizon SLJ Capital Ltd. and former IMF/Morgan Stanley economist, “The dollar share in foreign reserves has lost about 11 percent since 2016. The decisive event has been Western sanctions and the freezing of Russia’s dollar reserves.” He adds: “Taking purchasing power into account the BRICS nations currently account for 32 percent of global economic output, compared to 30 percent covered by the G7 countries.” This differential is bound to worsen as new nations are added to BRICS.
As BRICS, ASEAN and other countries increasingly trade in national currencies in lieu of Western reserve currencies, this results in weakening of those Western currencies, as evidenced by the drop in their purchasing power, aka inflation. Over time, the standards of living commensurate with the production of tradable goods will result in growing poverty in the U.S. and the EU that will result in social instability. But the damage will fall largely to the lower income echelons, resulting in growth in an already unsustainable wealth disparity, with the GINI factor for wealth distribution in the U.S. reaching 0.85 in 2020.
This explains several observations:
Why BRICS do not find it necessary to issue a new currency: Trade in national currencies will bring an end to the wealth siphoning mechanism of U.S. dollar hegemony.
Why Russia and China are trying to maintain non-confrontational policies despite provocations: As trade away from the U.S., UK, and EU increases with growing use of national currencies, political instability, particularly in the most de-industrialized Western nations, will result. Social discontent and political instability can already be witnessed throughout the West. This will only increase as impoverishment spreads due to depreciating currencies, leading to eventual implosion of the neoliberal political system. Thus Russia, China, and other sovereign nations have adopted a policy of “wait it out” rather than risk a kinetic war which would result in the deaths of millions. Nevertheless, these countries are embarking on an accelerated program of military development, along with strengthened alliances, in case war is inevitable.
Why the West is embarking on highly aggressive policies: The neoliberal cabals in control of the West realize that the changes occurring in the world, particularly as regards the monetary and financial global architecture, spell their doom, and hence are increasingly acting hysterically, fomenting conflict and chaos wherever they can.
It is dollar hegemony, dating back to the World War II-era Bretton Woods Agreements and the Nixonian removal of the international currency gold peg, that has allowed the U.S. to attempt overcoming its massive trade deficit and its public debt at $33.1 trillion and growing. Only by selling trillions of dollars of Treasury bonds to foreign countries, especially China, Japan, and Korea, has the U.S. been able to straddle the globe with the hundreds of military bases and other facilities it relies on to secure a world order friendly to its interests. For decades, foreign countries have needed dollars to trade in petroleum and other commodities. But with BRICS, that imperative may end sooner rather than later. Secretary of the Treasury Janet Yellen has said this will never happen, but other policy makers are seeing the writing on the wall.
Meryl Nass MD points out that WHO treaty amendments have been quietly advancing on autopilot to "become law", and need to be intercepted in that hidden advance.
Slow Down the Great Reset by rejecting WHO's IHR amendments, passed using a loose consensus procedure 16 months ago These amendments to the existing International Health Regulations reduced the time for new amendments to go into effect from 24 months to 12 months. The initial proposal was to reduce the time period during which nations could issue a formal opt-out to new amendments from 18 to 6 months. That did not fly, so a compromise was reached, giving nations 10 months to reject future amendments before being bound by them. Any amendments adopted next May will come into force 12 months later and will have a 10 month period during which nations can opt out.
James Roguski had heartening news yesterday, but this is the time to keep the pressure and spotlight on these illegal secretive machinations to institute global hierarchy.
THE ANSWER IS NO!The Working Group for amendments to the International Health Regulations (WGIHR) revealed that they are unlikely to meet their deadline, so they are trying to reinterpret Article 55 of the IHR.
Steve Kirsch , Western Australia health authority data shows we are killing 5 people for every person we might save if the vaccine worked (which it doesn't)
How could anyone not notice this? In 2021, there were 0 deaths reported for all other vaccines combined but 87 reported for the COVID vaccine. That's not "bad luck." That's a disaster.Dodging Magic Bullets (appearing as long shadow at recent outdoor wedding rehearsal)
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