I gave a 45-minute presentation on Yield Purchasing Power at American Institute for Economic Research in Great Barrington, MA on October 14, 2016. I am grateful to the Institute for recording video of my presentation plus extended Q&A.
"Dear Mark Zuckerberg. I follow you on Facebook, but you don’t know me. I am editor-in-chief of the Norwegian daily newspaper Aftenposten. I am writing this letter to inform you that I shall not comply with your requirement to remove a documentary photography from the Vietnam war made by Nick Ut. Not today, and not in the future..."
... the more we embrace and encourage state-directed magical thinking, whether it’s of the monetary or fiscal policy sort, what we are actually doing is opening the city gates to the old evil magic and the alt-priests of fascism and totalitarianism.
George Orwell said, “In a time of universal deceit, telling the truth is a revolutionary act.” Thanks to WikiLeaks, we know that powerful institutions have been abusing their power and lying to the public. WikiLeaks founder Julian Assange is a hero. Like Edward Snowden, Chelsea Manning, and other whistleblowers facing government persecution, Assange has sacrificed his personal comfort and safety to bring us the truth.
The irony is that these censors and would-be censors, such as the European Commission, the Dutch and Austrian courts, Facebook, Twitter are using their freedom of expression to suggest that someone else be robbed of his freedom of expression.
“...it seems it has happened - UK out!!! In my opinion, the most important long-term consequence of all this is that the exit will take Europe away from the anglo-saxons, meaning from the USA. It’s not the independence of Britain from Europe, but the independence of Europe from the USA. And it’s not long until a united Eurasia - about 10 years.”
The long-term decline in median income, amplified in 2016 by the biggest drop in weekly earnings in history, puts the lie to the pretense of self-sustaining recovery.Average people don’t have enough discretionary income to sustain expanded economic activity.
This is how America became a dictatorship. Instead of there being any longer a political party that represents the aristocracy, being opposed by a political party that represents the people, there are two political parties that represent two sides of the aristocracy: on the one side (the Democratic Party) are the «noblesse oblige» aristocrats, and on the other side are the «greed is good» aristocrats. The people are merely servants; they are ‘dispensable’, just like ‘dispensable’ nations are (every nation except America).
England’s upcoming vote on June 23rd may be the first of several votes that reveal the deep flaws embedded in the European Union. In particular, Europe’s undercapitalized and overleveraged banks are dangerously exposed to rising political unrest.