With the global economy sinking, and worries about it beginning to resound beyond just inconvenient bears, Paul Krugman has been leading the critique against what he sees is a disastrous and ignorant deformation against debt. Krugman is trying to argue that because government debt did not hinder private wealth creation we should use government debt to create private wealth. The cart is not even before the horse using this “logic”, as the cart and horse aren’t even on the same road. Paper wealth isn’t wealth, and government debt isn’t “free money.” There are consequences to both which their proponents never include in the “prospectus.”
When you accept the fact history is cyclical and continuous linear progress is not what transpires in the real world, you free yourself from the mental debilitation of normalcy bias and cognitive dissonance. Things do get worse. There are dark periods of history and they recur on a regular cycle. And we are in the midst of one of those dark periods. This Crisis will not be resolved without much pain, sacrifice, bloodshed, and ultimately war. The American people have lost their ability to think, reason, question, do math, control their urges, defer gratification, or realize when they are being lied to by the people they elected to public office. A culture of ignorance, celebration of the absurd, salutation of stupidity, honoring of the inane, being mesmerized by electronic gadgets, and satiating their egocentric shallow impulses on social media, is a sure recipe for societal collapse.
The dominoes are beginning to fall. The initial spark in 2008 has triggered a series of unyielding responses by those in power, but further emergencies and unintended consequences juxtapose, connect and accelerate a chain reaction that will become uncontainable once a tipping point is reached. The fabric of society is tearing at points of extreme vulnerability, with depression, violence and war on the foreseeable horizon. Mr. President, the shadow of crisis has not passed. The looming shadow of crisis grows ever larger and darker by the day as this Crisis enters the most dangerous phase, where the existing social order will be swept away in a torrent of carnage and ferocious struggle. We are not a chosen people. We are not immune from dire outcomes.
With a sane (and apparently honest/legitimate) government achieving election in Greece, the past six years of European “bail-out” fraud is about to be fully exposed. Indeed, the recent history of Greece, alone, is little more than a road-map of fraud, conclusively illustrated by a concise summation of events.
a) In 2009 and early 2010, the ECB “bailed-out” Greece on several occasions – and then it immediately went bankrupt, defaulting on 75% of its national debt.
The Jefferson Airplane sang about truth and lies nearly 50 years ago.
“When the truth is found to be lies
And all the joy within you dies…”
Restating their insight to make it relevant to our global delusions about real money – gold and silver – and the much less real money we call dollars, euros, pounds, yen and so forth:
When the truths we want to believe are clearly lies,
Then CONFIDENCE in our currency dies…
In 1913 the US national debt was less than $3 Billion, gold was real money, and a cup of coffee cost a nickel.
By 2015 the US national debt had increased to over $18,000,000,000,000 ($18 Trillion), the gold standard was called a “barbarous relic,” most currencies had devolved into fiat paper and digital symbols backed by insolvent governments, and a Grande soy cinnamon latte, double pump, triple shot, extra hot, with sprinkles cost about five bucks.
It becomes easier and easier to translate the propaganda of the One Bank (delivered by its messengers in the Corporate media) because the patterns of behavior of this crime syndicate continue to become more blatant/obvious.
The One Bank does not want to see any ‘defections’ amongst the member-states of the EU (i.e. any splintering of this totalitarian entity). The obvious reason for this is that the EU has morphed into a monetary straitjacket, as a single banking entity (the ECB) controls the printing presses of all EU states. To grasp the significance of this; we need merely refer back to the words of Mayer Amschel Rothschild (1744 – 1812), the original patriarch of the Rothschild clan, and architect of the One Bank.
What ratings agency Fitch and the Bank of Canada had warned about has come to pass.
Despite Angela Merkel's insistence on numerous occasions this past week that there will be "no debt renegotiations," it appears a schism at the core of Europe is opening. As France24 reports, following a meeting between France's finance minister Michel Sapin and Greece's finance minister Yanis Varoufakis, the press conference had a considerably more amicable tone that Friday's Dijsselbloem dissing. "France is more than prepared to support Greece," Sapin said adding that Greece’s efforts to renegotiate were "legitimate." Sapin urged a "new contract between Greece and its partners."
"My humble thesis tonight is that the entire 20th Century was a giant mistake. And that you can put the blame for this monumental error squarely on Thomas Woodrow Wilson - a megalomaniacal madman who was the very worst President in American history... well, except for the last two."
No matter what the politicians say about how great America is and how we, as a people, will always triumph, the fact is that the nation seems to be imploding. Despite the dire state of our nation, however, you can rest assured that none of the problems that continue to plague our lives and undermine our freedoms will be addressed by our so-called elected representatives in any credible, helpful way, and certainly not during a State of the Union address.
When President Obama ascends to the podium this evening to deliver his State of the Union address, he’ll undoubtedly shine a spotlight on the many strengths of America. The real issue, however, isn’t where the United States is today. The problem is where it’s going. And quickly...
During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families. Each January, he gets up there and tells us how the economy is “turning around” and to believe that much brighter days are right around the corner. And yet things just continue to get even worse for the middle class. The numbers that you are about to see will not be included in Obama’s State of the Union speech. They don’t fit the “narrative” that Obama is trying to sell to the American people. But all of these statistics are accurate. They paint a picture of a middle class that is dying.
In comparing pre-collapse USSR to Russia today, commentators and analysts showcase their ignorance. Recent events, such as the overthrow of the government in Ukraine, the secession of Crimea and its decision to join the Russian Federation, the subsequent military campaign against civilians in Eastern Ukraine, western sanctions against Russia, and, most recently, the attack on the ruble, have caused a certain phase transition to occur within Russian society, which, I believe, is very poorly, if at all, understood in the west. This lack of understanding puts Europe at a significant disadvantage in being able to negotiate an end to this crisis.
The structure of history is held together by two essential and distinct kinds of links, two moments in time to which no one is immune: moments of epiphany, and moments of catastrophe. Sometimes, both elements intermingle at the birth of a singular epoch. Men often awaken to understanding in the midst of great crisis; and, invariably, great crises can erupt when men awaken. These are the moments when social gravity vanishes, when the kinetic glue of normalcy melts away, and we begin to see the true foundations of our world, if a foundation exists at all. That time is now...