It shows that: we were rich! And then suddenly we were not. They gave us lots of money! Then they took it all away by taking away a huge slice of the purchasing power of that money. If there is a case for mass outrage, this is it. Sadly, most people cannot figure this out. It is opaque and the lines of cause and effect are too complicated for the Tiktok generation.
There is no chance of staunching inflation if real yields remain mired deep in negative territory. Yet if the nominal yield on the UST should rise to 5-7%, and thereby marginally enter positive real yield territory, there would be carnage on Wall Street like never before.
Two years into the Covid-19 event, there are no excuses left for perpetuating these harms, no possibility of denying their existence. It is past time that the staff, and staff associations, of international organizations found the spine to stand for the populations they claimed to serve, and demand that their organizations adhere to basic public health principles.
Neither the American economy nor economists’ models are built to handle fluctuations of such gigantic magnitudes. Accordingly, the American economy is now flying blind into a direction which includes soaring inflation and an abrupt reversal of the massive monetary and fiscal stimulus that drastically distorted economic activity during the past two years.
Real Personal Income Down 20% from One Year Ago Continue Reading
Governments in the US crushed market functioning in the name of virus control, and all the rest fell into place after: the spending, the debt, the monetary floods, the panicked purging of the labor force of the noncompliant, the wrecking of trade networks, driving people out of work, ruining businesses, low growth, and all the rest.
The major conclusions drawn from this working paper are that lockdowns did very little if anything to help mitigate Covid-19 deaths, especially when you account for differences in demographics that give some states an advantage, and some a disadvantage.
The propaganda is powerful, but reality is still slowly intruding into this make-believe world. Increased food and fuel prices, general inflation, reducing services, and economic hardship cannot be painted over, and the limits of money printing have been reached. Such are the fruits in developed nations of the Great Covid Panic, just as famines are its fruits in poor countries.
The World Catastrophe Wrought by Covid Lockdowns Continue Reading
Is liberalism a lost cause? Many say so. Many today dream that it would stay gone, forever doomed to be regarded as a failed experiment in a world longing for authoritarian control whether by the right, the left, the technocratic elite, or something else. Demoralized and depressed by so much “shock and awe,” and living in times of ubiquitous surveillance and unrelenting diktat, many others are inclined to give up the dream of freedom completely.
In a word, the combination of government induced “supply-side” contraction and ultra-stimulated merchandise “demand” has no parallel for folly in the annals of Washington economic policy. It was a destructive eruption in a class all by itself, and the foundation for the runaway inflation now plaguing the American public.
Elon Musk’s exciting and dramatic move represents a bold attempt to overthrow the regime of control, propaganda, and enforced opinion as manufactured by the administrative state. It could be a sign of things to come. The upheaval of our times will eventually touch every institution based on the widespread perception that something has gone very wrong and cries out for a fix.
Just as lockdowns showed very little concern for small businesses and the working classes, who were not in a position to move their lives to Zoom, and the vaccine mandates ignored population risk profiles and natural immunity, the push for contactless payment systems completely disregarded those who were not in a position to make the adjustment.
The utter economic waste and injustice to employees, shareholders, and various other stakeholders brought on by the new corporate virtue signaling is now starkly evident in the global data that prove beyond a shadow of doubt that the whole Virus Patrol-dictated anti-Covid regime was completely wrong from the very beginning.
How the C-Suite Embraced Lockdowns and Economic War Continue Reading
