Privatize the gains and socialize the losses. This is how a Fascist/Crony Capitalist system works. Don't for a moment confuse this with Capitalism. Those that do are card-carrying economic illiterates. Best stay clear of those miscreants :-)
Craig. So many people tell me that capitalism does not work. I try to explain that this is not capitalism. This is crony capitalism. A far different animal. My brother went to Cornell and has a friend that went with him. The friend believes capitalism is bad. I don’t even know what to say to these people.
Here's a timely quote from Richard Maybury: "If I had several years and a small fortune in tuition sunk into a PhD in Keynesianism, socialism, or alchemy, maybe I wouldn't be very quick to recognize a superior alternative. Keynesianism and socialism are really politics in sheep's clothing."
It's hard if not impossible to get through to someone with a closed mind. Indoctrination is indoctrination rather you attend an Ivy League school or Podunk U. You simply can't obtain knowledge studying nonsense. The outcome is still the same whether you spend $100K a year or $5K. Whether we admit it not, the left has successfully infiltrated the education system. There's a reason why the Austrian School of Economics is not taught at Western Universities. The only way you can combat this trend is through education. This is precisely why I support the Mises Institute. Another one of my pet peeves is how the left highjacked the term Liberal. There is nothing remotely liberal emanating from Marxism or Maoism. Yet, a majority within our society label these miscreants as Liberals. Our Founding Fathers were Liberals in the real sense and were very much influenced by the writings of John Locke (Commonly referred to as the Father of Liberalism). Its not sexy being labeled a Marxist, Maoist, or Leftist. It's much sexier to be labeled a Progressive, Liberal, or Wokester. I absolutely hate having to define myself as a Classical Liberal because those bastards highjacked the definition. Unfortunately, we're witnessing the culmination of the Left's Long March. It's an extremely sad time to be an American.
I think its safe to say we all agree inflation is a bad thing for those of us that aren't the first recipients of the newly printed currency. Think Cantillion Effect. 100%, 20%, 2%, its all bad for our economic well being. Here in the U.S. we have a Central Bank, the Federal Reserve, who have instituted a policy of inflation. The magic number they've come up with is 2%. The Federal Reserve in conjunction with the U.S. government work in tandem to purposely obfuscate the actual rate of inflation. So a group of unelected apparatchiks/bureaucrats have been allowed to institutionalize their system of counterfeiting/graft on savers and the productive class without any repercussions what so ever. This is no new phenomenon, the Federal Reserve was created back in 1913. How and why does a so called free society put up with this institutionalized graft? I think the answer is fairly clear; economic illiteracy. In the western world we're taught Keynesian Economics. Keynesian Economics is "the world is flat" version of economics. As a result, economically illiterate PHD's shouldn't come as a surprise. Folks there's a reason why the Austrian School of Economics is demonized in western society. They don't want you interrupting their institutionalized system of graft. Economic literacy would kill their system immediately. Here's another thought exercise that will have you question their system. So where did the economic illiterates come up with their 2% inflation target you ask? It just so happens that on average the world's gold stock increases by 2% each year. Coincidence; I think not. Got Gold :-)
What is somewhat amusing is the fact is that we can take none of our "valuables" with us. And it is proven beyond a doubt that we will all pass from this existence with nothing but high hopes. If you stop and think about it, maybe it is just older folks, because as I get older my vision improves. The laugh is on the elites who think they will achieve immortality so they gather all the toys they can. This is when i know for sure, God does have a sense of humor and we see it more every day. Just sayin'
One of best article I have read..so thanks Bill and Joel. Well written and factual. 08 is still a big memory for me. It seems it's the same agenda and same rhetoric. I don't see a bright future in the near term, no matter who's President. The Feds never learn and we pay the price.
Yes ma'am you are right. It seems as though we are stuck in an endless loop of play stupid games, win stupid prizes. If only we could run out of stupid prizes. Then the stupid games might stop.
Hello Dorothy. I have recently posted an article for you. It says basically the European Union is giving up on electric cars. This green new deal crap is simply drivel today. It would possibly work in 50 or 100 years. Check it out. I would like one less American spouting such drivel. Thanks.
Dorothy, I did not mean to offend you. You seem to be clean to the notion that windmills and solar work. Could you please read some truly informative websites? Get off CNN, MSNBC and Fox News.
WFE: I appreciate your concern about what I read. Maybe I should be concerned about what you read or don't read. Windmills and solar do work but not as good as they should. I just feel that every little thing we can do helps our environment. By the way, I don't watch Fox News. I'm not sure why you don't like CNN or MSNBC? What do you consider "truly informative websites?"
Hi Dorothy. If you are serious, I will name just a few. Lou Rockwell. Zero hedge is truly the gorilla in the room in the world of real news. Those two are my favorite, but you should look into strategic culture, the burning platform. Etc. Please get back to me after you have looked at zero hedge for 30 days. Please. I might I ask what you consider to be real news? Please name your favorite sources and I will check them out. I always try to educate myself.
I have been hanging around the Bonner Enterprise and its various iterations for a long time, and the line about the future only happening, because the elite aren't on the ball enough to stop it is probably the best line he ever wrote, though there have been many great ones. Bill Bonner will never be accorded the mainstream cultural and social acclaim due him, simply because he chose the field of "money" in which to advance. There is no "beat" more short-sighted and suffering from tunnel-vision than "money", because those hung up on money can't see what truly matters. Unfortunately, money is as necessary to "enlightened" mankind as the air it breathes, the water it drinks, and the food it consumes. If ever there were an observation to justify the piddling subscription fee and the investment of one's time to read Mr. Bonner's written word, worthy of canonization, this one were it. I thank Providence, that, even at this late date, I am here to receive it. Best always. PM
The great debate engendered by Bonner's timeless and wonderfully accurate "inflate or die" proposition is illuminating: no one "wants" to die, so the remark contains the answer to what will happen. I'm 70. In my time here on Earth, as a once-proud (yes I bought our hype) citizen of these nominally united supposed "states", I have experienced nothing but inflation. It's what we know; it's our "normal", that and government lies ( a redundancy). Letting the situation self-correct, even partially, via the "market" is out of the question on account of the shock and resultant chaos of an uncontrolled event, crash, correction, whatever. We will choose and die from inflation, because that is all we know, and it's "safe". The "government" knows we are comfort-seeking beings. Choose your demise: a sudden, cataclysmic, relatively painless, get-it-over-with end or a prolonged, drawn-out, "manageable" decline into oblivion. (as for) Me? I would go out on my feet, but that's just my view. Best always. PM
Hey Paul, I am with you. I believe from the Civil War ending until about 1910. We had no inflation. No central bank, no inflation. Simple. Then, if your boss gave you a raise, you were living standards raised. If you owned a small business, the same. now these pigs want to take it all from us. This is most definitely I control demolition. I for one would like to see hyper inflation end, Medicare, and Social Security and or pensions. Then those of us who have been industrious and prepared, could begin to build small regional economies. I know this sounds bizarre, but I see the ending they want and I don’t like it.
And yet, despite all the efforts of the elite, the future is going to arrive. And probably it will arrive suddenly and catastrophically, rather than gradually and helpfully, as it would have done left to its own nature. But the house of cards they have erected will not last forever.
There is a school of thought that there are puppet masters, who manage to control anyone in authority or those that must deliver, the strategic actions to achieve puppet master goals and objectives.
Has it not been the nature of progressively more ‘civilised’ mankind, to become more advanced technologically and yet more and more distinctly coerced, manipulated and individually controlled, like white mice in cages or on treadmills of multiple types.
From modern era slavery to despots in control, history is repeating itself.
Even bankers and billionaires get caught when there is an earthquake.
That we are getting more and more adept to play with economic debits and credits, mind bending media distortions, technologies that think and can act like we do, we become more of an unnecessary animal that is of lesser value.
The puppet masters are maybe getting close to Check Mate for this eras game.
Oh well, the puppet masters will try and reset all the pieces back up for a new game, always assuming the board has not been destroyed and revised rules of play from AI are such that Check Mate is defunct and their cannot be winners or losers.
The difficulty in watching/anticipating this decline is the speed of it. We see what's coming, but the wait, like waiting for a major surgery, is the hard part. It feels like years of opportunity are going by -FOMO. This is a very slow motion train wreck.
Yup. Most amazing to me was the fact that all those banks (and surely many others not listed) could pay such HUGE fines, consistently in some cases, and seemingly not bat an eye.
Did they really pay them, as in "cutting a check", or was there some other method involved that perhaps softened the blow to their bottom line?
And where they heck did they get so much money that fines in the BILLIONS had little to no impact, resulting in "business as usual" the very next day??!
I should'a been a Banker I guess, but likely I'm too honest...
The future is only allowed to happen at all because the elite don’t see it coming.
Insightful.
Privatize the gains and socialize the losses. This is how a Fascist/Crony Capitalist system works. Don't for a moment confuse this with Capitalism. Those that do are card-carrying economic illiterates. Best stay clear of those miscreants :-)
Yes, isn't that what they call; public private partnership or PPP. Such colorful metaphors and endless acronyms. Excuse me while I go hurl.
So true, unfortunately.
Heads they win tails you lose, or like Bill says Lose Lose :-)
Craig. So many people tell me that capitalism does not work. I try to explain that this is not capitalism. This is crony capitalism. A far different animal. My brother went to Cornell and has a friend that went with him. The friend believes capitalism is bad. I don’t even know what to say to these people.
Another prescient quote from Richard Maybury: "They cannot get rid of patterns of thinking they don't know they have."
Here's a timely quote from Richard Maybury: "If I had several years and a small fortune in tuition sunk into a PhD in Keynesianism, socialism, or alchemy, maybe I wouldn't be very quick to recognize a superior alternative. Keynesianism and socialism are really politics in sheep's clothing."
It's hard if not impossible to get through to someone with a closed mind. Indoctrination is indoctrination rather you attend an Ivy League school or Podunk U. You simply can't obtain knowledge studying nonsense. The outcome is still the same whether you spend $100K a year or $5K. Whether we admit it not, the left has successfully infiltrated the education system. There's a reason why the Austrian School of Economics is not taught at Western Universities. The only way you can combat this trend is through education. This is precisely why I support the Mises Institute. Another one of my pet peeves is how the left highjacked the term Liberal. There is nothing remotely liberal emanating from Marxism or Maoism. Yet, a majority within our society label these miscreants as Liberals. Our Founding Fathers were Liberals in the real sense and were very much influenced by the writings of John Locke (Commonly referred to as the Father of Liberalism). Its not sexy being labeled a Marxist, Maoist, or Leftist. It's much sexier to be labeled a Progressive, Liberal, or Wokester. I absolutely hate having to define myself as a Classical Liberal because those bastards highjacked the definition. Unfortunately, we're witnessing the culmination of the Left's Long March. It's an extremely sad time to be an American.
I think its safe to say we all agree inflation is a bad thing for those of us that aren't the first recipients of the newly printed currency. Think Cantillion Effect. 100%, 20%, 2%, its all bad for our economic well being. Here in the U.S. we have a Central Bank, the Federal Reserve, who have instituted a policy of inflation. The magic number they've come up with is 2%. The Federal Reserve in conjunction with the U.S. government work in tandem to purposely obfuscate the actual rate of inflation. So a group of unelected apparatchiks/bureaucrats have been allowed to institutionalize their system of counterfeiting/graft on savers and the productive class without any repercussions what so ever. This is no new phenomenon, the Federal Reserve was created back in 1913. How and why does a so called free society put up with this institutionalized graft? I think the answer is fairly clear; economic illiteracy. In the western world we're taught Keynesian Economics. Keynesian Economics is "the world is flat" version of economics. As a result, economically illiterate PHD's shouldn't come as a surprise. Folks there's a reason why the Austrian School of Economics is demonized in western society. They don't want you interrupting their institutionalized system of graft. Economic literacy would kill their system immediately. Here's another thought exercise that will have you question their system. So where did the economic illiterates come up with their 2% inflation target you ask? It just so happens that on average the world's gold stock increases by 2% each year. Coincidence; I think not. Got Gold :-)
What is somewhat amusing is the fact is that we can take none of our "valuables" with us. And it is proven beyond a doubt that we will all pass from this existence with nothing but high hopes. If you stop and think about it, maybe it is just older folks, because as I get older my vision improves. The laugh is on the elites who think they will achieve immortality so they gather all the toys they can. This is when i know for sure, God does have a sense of humor and we see it more every day. Just sayin'
Well said Don.
One of best article I have read..so thanks Bill and Joel. Well written and factual. 08 is still a big memory for me. It seems it's the same agenda and same rhetoric. I don't see a bright future in the near term, no matter who's President. The Feds never learn and we pay the price.
Yes ma'am you are right. It seems as though we are stuck in an endless loop of play stupid games, win stupid prizes. If only we could run out of stupid prizes. Then the stupid games might stop.
Hello Dorothy. I have recently posted an article for you. It says basically the European Union is giving up on electric cars. This green new deal crap is simply drivel today. It would possibly work in 50 or 100 years. Check it out. I would like one less American spouting such drivel. Thanks.
WFE: Drivel to you; not to me.
WFE: Where is article you were talking about?
Dorothy, I did not mean to offend you. You seem to be clean to the notion that windmills and solar work. Could you please read some truly informative websites? Get off CNN, MSNBC and Fox News.
WFE: I appreciate your concern about what I read. Maybe I should be concerned about what you read or don't read. Windmills and solar do work but not as good as they should. I just feel that every little thing we can do helps our environment. By the way, I don't watch Fox News. I'm not sure why you don't like CNN or MSNBC? What do you consider "truly informative websites?"
Hi Dorothy. If you are serious, I will name just a few. Lou Rockwell. Zero hedge is truly the gorilla in the room in the world of real news. Those two are my favorite, but you should look into strategic culture, the burning platform. Etc. Please get back to me after you have looked at zero hedge for 30 days. Please. I might I ask what you consider to be real news? Please name your favorite sources and I will check them out. I always try to educate myself.
I have been hanging around the Bonner Enterprise and its various iterations for a long time, and the line about the future only happening, because the elite aren't on the ball enough to stop it is probably the best line he ever wrote, though there have been many great ones. Bill Bonner will never be accorded the mainstream cultural and social acclaim due him, simply because he chose the field of "money" in which to advance. There is no "beat" more short-sighted and suffering from tunnel-vision than "money", because those hung up on money can't see what truly matters. Unfortunately, money is as necessary to "enlightened" mankind as the air it breathes, the water it drinks, and the food it consumes. If ever there were an observation to justify the piddling subscription fee and the investment of one's time to read Mr. Bonner's written word, worthy of canonization, this one were it. I thank Providence, that, even at this late date, I am here to receive it. Best always. PM
The great debate engendered by Bonner's timeless and wonderfully accurate "inflate or die" proposition is illuminating: no one "wants" to die, so the remark contains the answer to what will happen. I'm 70. In my time here on Earth, as a once-proud (yes I bought our hype) citizen of these nominally united supposed "states", I have experienced nothing but inflation. It's what we know; it's our "normal", that and government lies ( a redundancy). Letting the situation self-correct, even partially, via the "market" is out of the question on account of the shock and resultant chaos of an uncontrolled event, crash, correction, whatever. We will choose and die from inflation, because that is all we know, and it's "safe". The "government" knows we are comfort-seeking beings. Choose your demise: a sudden, cataclysmic, relatively painless, get-it-over-with end or a prolonged, drawn-out, "manageable" decline into oblivion. (as for) Me? I would go out on my feet, but that's just my view. Best always. PM
Hey Paul, I am with you. I believe from the Civil War ending until about 1910. We had no inflation. No central bank, no inflation. Simple. Then, if your boss gave you a raise, you were living standards raised. If you owned a small business, the same. now these pigs want to take it all from us. This is most definitely I control demolition. I for one would like to see hyper inflation end, Medicare, and Social Security and or pensions. Then those of us who have been industrious and prepared, could begin to build small regional economies. I know this sounds bizarre, but I see the ending they want and I don’t like it.
And yet, despite all the efforts of the elite, the future is going to arrive. And probably it will arrive suddenly and catastrophically, rather than gradually and helpfully, as it would have done left to its own nature. But the house of cards they have erected will not last forever.
There is a school of thought that there are puppet masters, who manage to control anyone in authority or those that must deliver, the strategic actions to achieve puppet master goals and objectives.
Has it not been the nature of progressively more ‘civilised’ mankind, to become more advanced technologically and yet more and more distinctly coerced, manipulated and individually controlled, like white mice in cages or on treadmills of multiple types.
From modern era slavery to despots in control, history is repeating itself.
Even bankers and billionaires get caught when there is an earthquake.
That we are getting more and more adept to play with economic debits and credits, mind bending media distortions, technologies that think and can act like we do, we become more of an unnecessary animal that is of lesser value.
The puppet masters are maybe getting close to Check Mate for this eras game.
Oh well, the puppet masters will try and reset all the pieces back up for a new game, always assuming the board has not been destroyed and revised rules of play from AI are such that Check Mate is defunct and their cannot be winners or losers.
The difficulty in watching/anticipating this decline is the speed of it. We see what's coming, but the wait, like waiting for a major surgery, is the hard part. It feels like years of opportunity are going by -FOMO. This is a very slow motion train wreck.
Interesting read, the rap sheets amazing
Hi Clem -
Yup. Most amazing to me was the fact that all those banks (and surely many others not listed) could pay such HUGE fines, consistently in some cases, and seemingly not bat an eye.
Did they really pay them, as in "cutting a check", or was there some other method involved that perhaps softened the blow to their bottom line?
And where they heck did they get so much money that fines in the BILLIONS had little to no impact, resulting in "business as usual" the very next day??!
I should'a been a Banker I guess, but likely I'm too honest...
Yes mate, leave your morals at the door!
If I worked for a bank..... One for you.....one for me.
NWO, “one more for the good guys” Sweeeeet! 🤘🏻
(Scott Hall/Razor Ramon) 😂
ES: Hahahaha. Love your sense of humor!
I see I'M a two for one today!
Thank you, you know what they say:
“He who laughs last....absolutely did not get the joke!” 😂