Category Archives: Economics

BRICS 11 – Strategic Tour de Force

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By Pepe Escobar

Source: The Unz Review

Chinese President Xi Jinping defined all the major decisions embedded in the 15th BRICS summit in South Africa as “historic”. That may be seen as an understatement.

It will take time for the Global South, or Global Majority, or “Global Globe” (copyright President Lukashenko), not to mention the stunned collective West, to fully grasp the enormity of the new strategic stakes.

President Putin, for his part, described the negotiations on BRICS expansion as quite difficult. By now a relatively accurate picture is emerging of what really went down on that table in Johannesburg.

India wanted 3 new members. China wanted as many as 10. A compromise was finally reached, with 6 members: Egypt, Iran, Saudi Arabia, United Arab Emirates (UAE), Argentina and Ethiopia.

So from now on it’s BRICS 11. And that’s just the beginning. Starting with the rotating Russian presidency of BRICS on January 1, 2024, more partners will be progressively included, and most certainly a new round of full members will be announced at the BRICS 11 summit in Kazan in October next year.

So we may soon progress to BRICS 20 – on the way to BRICS 40. The G7, for all practical purposes, is sliding towards oblivion.

Bur first things first. At that fateful table in Johannesburg, Russia supported Egypt. China went all out for Persian Gulf magic: Iran, UAE and the Saudis. Of course: Iran-China are already deep into a strategic partnership, and Riyadh is already accepting payment for energy in yuan.

Brazil and China supported Argentina, Brazil’s troubled neighbor, running the risk of having its economy fully dollarized, and also a key commodity provider to Beijing. South Africa supported Ethiopia. India, for a series of very complex reasons, was not exactly comfortable with 3 Arab/Muslim members (Saudi Arabia, UAE, Egypt). Russia assuaged New Delhi’s fears.

All of the above respects geographic principles and imprints the notion of BRICS representing the Global South. But it goes way beyond that, blending cunning strategy and no-nonsense realpolitik.

India was mollified because Russian Foreign Minister Sergey Lavrov, at the table in Johannesburg negotiating on behalf of President Putin, and highly respected by New Delhi, fully understood that a new, single BRICS currency is a long way away. What really matters, short and medium term, is expanding intra-BRICS trade in their national currencies.

That was stressed by New Development Bank (NDB) president Dilma Rousseff in her report to the South African summit hosts – even as Brazilian President Lula once again emphasized the importance of setting up a work group to discuss a BRICS currency.

Lavrov understood how New Delhi is absolutely terrified of secondary sanctions by the US, in case its BRICS role gets too ambitious. Prime Minister Modi is essentially hedging between BRICS and the completely artificial imperial obsession embedded in the terminology “Indo-Pacific” – which masks renewed containment of China. The Straussian neo-con psychos in charge of US foreign policy are already furious with India buying loads of discounted Russian oil.

New Delhi’s support for a new BRICS currency would be interpreted in Washington as all-out trade war – and sanctions dementia would follow. In contrast, Saudi Arabia’s MbS doesn’t care: he’s a top energy producer, not consumer like India, and one of his priorities is to fully court his top energy client, Beijing, and pave the way for the petroyuan.

It Takes Just a Single Strategic Move

Now let’s get into the strategic stakes. For all practical purposes, in Eurasian terms, BRICS 11 is now on the way to lord over the Arctic Sea Route; the International North South Transportation Corridor (INSTC); BRI’s East West Corridors; the Persian Gulf; the Red Sea; and the Suez Canal.

That blends several overland corridors with several nodes of the Maritime Silk Roads. Nearly total integration in the Heartland and the Rimland. All with just a single strategic move in the geopolitical/geoeconomic chessboard.

Much more than an increase of BRICS 11 collective GDP to 36% of the world’s total (already larger than the G7), with the group now encompassing 47% of the world’s population, the top geopolitical and geoeconomic breakthrough is how BRICS 11 is about to literally break the bank on the energy and commodities market fronts.

By incorporating Iran, Saudi Arabia and the UAE, BRICS 11 instantly shines on as an oil and gas powerhouse. BRICS 11 now controls 39% of global oil exports; 45.9% of proven reserves; and at least 47.6% of all oil produced globally, according to InfoTEK.

With BRICS 11 possibly including Venezuela, Algeria and Kazakhstan as new members as early as in 2024, it may control as much as 90% of all oil and gas traded globally.

Inevitable corollary: operations settled in local currencies bypassing the US dollar. And inevitable conclusion: petrodollar in a coma. The Empire of Chaos and Plunder will lose its free lunch menu: control of global oil prices and means to enforce “diplomacy” via a tsunami of unilateral sanctions.

Already in the horizon, direct BRICS 11-OPEC+ symbiosis is inevitable. OPEC+ is effectively run by Russia and Saudi Arabia.

A ground-shaking geoeconomic reorientation is at hand, involving everything from routes plied by global supply chains and new BRICS roads to the progressive interconnection of BRI, the Saudi Vision 2030 and massive port expansion in the UAE.

By choosing Ethiopia, BRICS expands its African reach on mining, minerals and metals. Ethiopia is rich in gold, platinum, tantalum, copper, niobium and offers vast potential in oil and natural gas exploration. Saudi Arabia and the UAE, incidentally, are also involved in mining.

This all spells out fast, progressive integration of North Africa and West Asia.

How Diplomacy Goes a Long Way

The BRICS 11 Shock of the New, in the energy sphere, is a sharp historical counterpoint to the 1973 oil shock, after which Riyadh started wallowing in petrodollars. Now Saudi Arabia under MbS is operating a tectonic shift, in the process of becoming strategically aligned with Russia-China-India-Iran.

Diplomatic coup does not even begin to describe it. This is the second stage of the Russian-initiated and Chinese-finalized rapprochement between Riyadh and Tehran, recently sealed in Beijing. The Russia-China strategic leadership, working patiently in synch, never lost sight of the ball.

Now compare it with collective West’s “strategies”, such as the G7-imposed oil price cap. Essentially the G7 “coalition of the willing” self-imposed a price cap on Russian crude imported by sea. The result is that they had to start buying way more oil products from Global South nations which ignored the price cap and duly increased their purchase of Russian crude.

Guess who are the top two: BRICS members China and India.

After wallowing in several stages of denial, the collective West may – or may not – realize it’s a fool’s dream to attempt to “de-couple” the West-ruled part of the global economy from China, whatever is spewed out by Washington.

BRICS 11 now shows, graphically, how the “Global South/Global Majority/”Global Globe” is more non-aligned with the West than anytime in recent history.

By the way, the president of the G77, Cuban leader Diaz-Canel, was at the BRICS summit representing the de-facto new Non-Aligned Movement (NAM): the G77 actually incorporates no less than 134 nations. Most are African. Xi Jinping in Johannesburg met in person with the leaders of most of them.

The collective West, in panic, regards all of the above as “dangerous”. So the last refuge is, predictably, rhetorical: “de-coupling”, “de-risking”, and similar idiocies.

Yet that may also get practically dangerous. As in the first ever trilateral summit in Camp David on August 18 between the Empire and two Asian vassals, Japan and South Korea. That may be interpreted as the first move towards a military-political Asian NATO even more toxic than Quad or AUKUS, obsessed to simultaneously contain China, Russia and the DPRK.

The Collective Outstripping of the Global North

The UN lists 152 nations in the world as “developing countries”. BRICS 11 is aiming at them – as they outstrip the Global North on everything from population growth to overall contribution to global GDP growth measured by PPP.

In the past 10 years since the announcement of BRI first in Astana and then in Jakarta, Chinese financial institutions have lent nearly $1 trillion for infrastructure connectivity projects across the Global South. The upcoming BRI forum in Beijing will signal a renewed drive. That’s the BRI-BRICS symbiosis.

In the G20 last year, China was the first nation to lobby for the inclusion of the 55-member African Union (AU). That may happen at the G20 summit next month in New Delhi; in that case, Global South representation will be close to parity with the Global North.

Claims that Beijing was organizing a malign conspiracy to turn BRICS into a weapon against the G7 are infantile. Realpolitik – and geoeconomic indicators – are dictating the terms, configuring the Shock of the New: the G7’s irreversible irrelevance with the rise of BRICS 11.

Fooled by What We Measure, Enlightened by What We Don’t Measure

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By Charles Hugh Smith

Source: Of Two Minds

Economists and pundits are falling all over themselves to declare the US is chugging along splendidly, and to express their frustration with the public for their curmudgeonly lack of enthusiasm. For example: If this is a bad economy, please tell me what a good economy would look likeWe should acknowledge that things are going well, even as we continue to look for problems to solve and How the Recession Doomers Got the U.S. Economy So Wrong.

My intention is not to slam Noah Smith or Derek Thompson. I follow their work and gain value from their analysis.

The point I want to make is we only manage what we measure, and the reliance on statistics that are overly broad and easily distorted/gamed leads to generalizations that ignore consequential cause and effect: we are fooled by overly broad and easily distorted/gamed statistics and enlightened by looking at what is not measured or measured inadequately.

The consensus holds that inflation is declining rapidly and unemployment remains low, so the economy is doing great. Please glance at Chart #1 below to see what enthuses the mainstream: the unemployment rate is near historic lows.

But this measure leaves out a great deal of consequential factors. It’s well-known that the unemployment rate is distorted / gamed by leaving out everyone who is in the workforce but not “actively seeking work.” So what does this official unemployment rate actually measure? Not the percentage of the workforce that has a job.

Nor does it measure underemployment–those working far below their potential–or job insecurity or the percentage of workers being pushed into burnout–all consequential reflections of the real economy. All of these are potentially causal factors in why US productivity has fallen so dramatically.

And speaking of productivity, that’s the ultimate source of prosperity–not speculative bubbles or debt-binging. If productivity is tanking, eventually there are negative economic consequences that will be distributed to some segments of the populace, very likely asymmetrically.

Such a broad-brush measure also ignores the consequences of demographics. Please glance at chart #2 below, of the 55 and over population and workforce. Note that virtually all the 20+ million jobs the US economy added in the past two decades are in this older workforce, which is of course steaming steadily into retirement, even as the percentage of this cohort who continues working has soared.

In other words, virtually all the job growth is the result of older workers working longer. Yes, 70 is the new 50, but try doing the same work at 70 that you did when you were 50. Sure, some people forego retirement because they love their work so much, but we don’t measure how many are still working because they have to for pressing financial reasons.

Have you observed the age of service workers and skilled workers recently? Do you reckon they really love working at Burger King so much that they’re doing it for enjoyment?

What if we measured financial pressures and job insecurity rather than risibly bogus “unemployment”? Would the economy still look so wonderful and resilient?

Chart #3 shows that virtually all the population growth ahead is in the cohort of older workers 65+ years old heading into retirement. So the workforce is rapidly aging and the unspoken / unexamined assumption is tens of millions of new workers will enter the workforce with the same skills, motivation, dedication and values as the tens of millions retiring.

But the demographics simply don’t support this breezy assumption.

Now glance at chart #4 which depicts the extraordinary rise in the number of workers who are now disabled. The causes of this are being debated (the pandemic obviously plays a role), but 2.5 million workers leaving the workforce in a few years is something that could be consequential if the trend continues. An assumption that this is a one-off is baseless until proven otherwise.

Once again, demographics, productivity and factors such as disability and burnout are not part of the unemployment, GDP and inflation measures currently being touted as proof of economic nirvana.

Item #1 of what’s not even measured is the crapification of goods and services. I addressed this in The “Crapification” of the U.S. Economy Is Now Complete (February 9, 2022) and Stainless Steal (February 26, 2023).

How do we measure the “inflation”–i.e. a loss of purchasing power–when appliances that lasted 20 years a generation ago now break down in 5 years? Where does that 75% decline in utility and durability show up in the official inflation data? How about the tools that once lasted a lifetime now breaking after a few years?

It’s been estimated that America’s food has lost 30% of its nutritive value in the past few decades. Protein per gram has dropped, trace nutrients have dropped, and so on. Rather than pursue sustainably nutrient-rich soil, Big Ag has maximized profits by dumping natural-gas-derived chemical fertilizers on depleted soil to boost production of nutrient-poor, tasteless “product.” A product deemed “organic” offers no guarantee that the soil isn’t depleted of nutrients.

Could this decline have anything to do with the American populace’s increasingly poor health? Nobody knows because these massive declines in quality and value aren’t measured and are certainly not part of the risibly bogus measures of unemployment, GDP and inflation.

The official inflation rate ignores the multi-decade decline in the purchasing power of wages. Rents have soared 25% in a few years, and economists are looking at 5% increases in wages and worrying about the potential inflationary impact of workers’ wages not keeping up with real-world inflation.

Cheerleading economists and pundits never mention the $50 trillion siphoned from labor by capital over the past 45 years. They also don’t mention the rising trend of loading more work on employees rather than hire more employees, or as a response to not being able to find qualified new hires.

Funny how rosy the picture can be tinted when all the consequential forces are ignored. But this studied ignorance characterizes the American elite, who delight in whining about airfares and travel delays, and finding someone to fix their pool pump. I address our Terminally Stratified Society here:

The Wealthy Are Not Like You and Me–Our Terminally Stratified Society (August 3, 2023)

This protected elite don’t have to put up with the crapified goods and services which generate their capital gains and income. Their wealth and income enable their detachment from the crapified economy the bottom 90% experience. Their experience of the bottom 90% is as service workers, delivery people, etc. who serve their entitled tastes.

Correspondent Tomasz G. provided a telling excerpt from Houellebecq’s The Possibility of an Island:

“… the rich certainly like the company of the rich, no doubt it calms them, it’s nice for them to meet beings subject to the same torments as they are, and who seem to form a relationship with them that is not totally about money; it’s nice for them to convince themselves that the human species is not uniquely made up of predators and parasites… “

As correspondent Ryan R. observed, America’s privileged elites“were born on third, stole home (via asset inflation) and still think they hit that home run.”

We know who the parasites are, but economists and pundits are safely blind to America’s neofeudal aristocracy. After all, who butters the bread of economists and pundits?

Is it unsurprising there are no measures of neofeudalism or elite privilege? As for the incredible concentration of wealth in the top tiers and the resulting decline in the bottom 90%’s share of the nation’s wealth–nothing to see here, just globalization and financialization doing their thing. What matters is booking my next flight to yet another conference of economists and pundits where we nod our heads and dare not admit all the conferences are nothing but echo chambers of the privileged elites.

Cheerleading economists and pundits completely ignore the consequences of the system being rigged to favor capital and the already-wealthy who were given the means to buy assets back when they were cheap and affordable to the middle-class. Now that the system generates speculative credit-asset bubbles to create “the wealth effect,” assets such as homes in desirable regions are out of reach of the bottom 90%.

Please study the six charts below of wealth inequality. Try not to laugh out loud when you see that the top 1% reckon that “coming from a wealthy family” has near-zero impact on “getting ahead in America.”

Also note the steady decline in the middle class percentage of national wealth, and how the middle class’s share only rises when the credit-asset bubbles that have enriched the top 10% deflate, a bubble-pop that never lasts longer than a few months thanks to the policies that favor the already-rich at the expense of those who don’t own stocks, rental properties, municipal bonds, etc.

Economists and pundits steer well clear of the eventual social and political consequences of America’s entrenched neofeudal wealth-income inequality. That this neofeudal configuration is inherently destabilizing–never mind, we don’t measure that, look at the wunnerful unemployment and inflation charts!

Lastly, consider the skyrocketing federal debt in terms of how many jobs are created in the era of soaring federal spending and debt. (Charts courtesy of CH / Economica) Debt doesn’t matter to economists and pundits, and neither does its diminishing effect on GDP and employment. The same can be said of total debt (public and private), which is skyrocketing (last chart): diminishing returns writ large as higher interest rates are embedded in the policy excesses and neofeudal structure of the past 45 years.

In essence, nothing that is consequential is properly quantified, so the pundit class keeps insisting everything is wunnerful and is mystified why people are so foolishly dissatisfied with our wunnerful economy. The reason why people are not buying the fantasyland story is they have to live and work in the crapified real economy, as serfs serving the economist-punditry-elite aristocracy.

If we want to avoid being led astray by misleading measures, we must seek enlightenment in what isn’t being measured or is cast aside as inconvenient to the “economy is wunnerful” party line.

The Only ‘National Defense’ Needed in this Country, Is Defense Against the Real Enemy: The Ruling Class and the U.S. Government

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By Gary D. Barnett

Source: GaryDBarnett.com

“I believe that all government is evil, and that trying to improve it is largely a waste of time.”

H.L. Mencken

Throughout our history, and today, little, if any defense of this country or its people, has been necessary or warranted. The true enemy of the people of America is, and has always been, its own government. The real enemies are most all the politicians, regardless of party, the courts, the CIA, the NSA, the FBI, the IRS, the entire military industrial complex, and in general, the federal and state police forces. In other words, all the ruling class and it pawns in government, its enforcers, and all their institutions and bureaucracies, are the real threat to this populace and its natural freedoms. The ludicrous notion of national defense, and that government forces actually “defend the country,” is an outright lie; propagandized by the State and its mouthpieces in media, simply as a way to gain great power in order to own and control society.

Many will take offence to these statements, mostly due to the fact that since birth, they have been inundated and indoctrinated by false ‘authority’ figures, to believe that they cannot survive and prosper without restrictive laws and rule, and worthless government schooling, all kept in check by severe coercive State prosecution. They are taught (schooled) to abandon their individuality in favor of the so-called ‘greater good’ of a collective society, to depend on and trust others in power to protect and sustain them and their families throughout their lives. This breeds only ignorance and passivity in the face of State terror. Independence, a supposed hallmark of this nation-state and its residents, is literally vilified, and even prohibited in many instances, causing personal sovereignty to be discarded in the name of unified slavery.

We live in a country that has warred aggressively against fictitious enemies, meaning without cause or necessity, more than any other country on earth. It is stated, and supported, that the United States has been at war for at least 93% of its entire existence. I firmly believe this number to be much higher, and with proper consideration, it is likely closer to 100%. If one is to determine the actual damage done, the actual harm due to direct war, proxy war, what is insanely considered ‘collateral damage,’ what is the horrid long term cost to human life in the aftermath of this terror, the total number of causalities, including the dead, would be tens if not hundreds of millions of innocent people. But what is sold to the wrongly named ‘public, is that this country is and has been the savior of ‘democracy,’ a completely evil and failed ideology, which is a gross lie beyond the imagination of any sane and thinking human being.

Yes, the truth hurts, but without acceptance of truth, what is left is a deceitful lie; a manufactured myth so atrocious as to have caused an entire nation’s abhorrent and hostile policies to be supported by the masses to such an extent, as to have caused the most broad-based, aggressive, and egregious destruction of humanity in history. This should be the epitaph upon the death of this empire.

At this time in our lives, aggressive war by this government and all who support its heinous deeds, has graduated from its main objective of slaughtering innocent men, women, and children, in addition to the other devastation, in other countries most everywhere on earth, to include the entirety of this country’s population as well. The major war currently is against all of us who live and work in the U.S. by those who continue to claim to be our protectors. This contradiction is absurd, but is still little understood by the average American, as can be evidenced by the terroristic treatment inflicted, and with little if any resistance, on this society these past few years.

At a time when this country and the world are steeped in madness and hate, more and more atrocities continue to take place, with almost zero empathy evident by the political class. The last evil ‘ruler,’ just one among all, ‘chosen’ by the ‘people,’ was Biden, and this was his response to the State’s complicit murder of those in Lahaina just recently, after a very suspicious and devastating fire had destroyed an entire town and its residents. He had the audacity to offer these poor people who lost everything, including many family members, a one-time $700 payment per household. This was in the midst of giving over $200 million more to Ukraine’s political criminals recently, with plans to give many more billions; this after more than $113 billion has already been paid to enrich the newly rich politicians in Ukraine. (Apparently, blackmail garners payment more than actual need of Americans) This alone should be enough for everyone in this country to grasp how little this government cares about its own, and how worthless all in the governing system have become. To depend on, or trust this scum to defend you from harm, is asinine beyond explanation.

Who will defend you from harm? Who will defend you from foreign invasion, although that has never once happened in this country’s history, not even including the pre-planned setup called the Pearl Harbor attack? Who will defend you from hyper-inflation and the resulting extreme prices for goods? Who will defend you from mass censorship and constant surveillance? Who will defend you from food shortages, energy shutdowns, and extensive restrictions on all transactions and travel? Who will defend your children from the consuming perversion being forced on them at every opportunity with this government’s blessing? Who will defend you from aggression and tyranny? Who will defend you from yourself?

It will never be the evil State that defends you, nor will it be its ‘national defense systems,’ its enforcers in the military and police, the politicians, the banking cartels, the large corporate monsters, or any government at any level. There is only one legitimate defense, and that is self-defense. Only you, each of you, has the ability and desire to defend himself. No other and no State entity can or will ever be your savior.  Until that is accepted, expect total serfdom to become your voluntarily accepted way of life.

Much more tyranny is coming. Lockdowns, fake ‘viruses,’ bioweapons, threats and totalitarian measures based on bogus ‘climate change, central bank digital currency, social credit restrictions, more inflation, destruction of money, health mandates, curfews, travel shutdowns, food shortages, transhuman promotion, among many other atrocities, including perpetual war.

National defense is an outright lie, and can never protect you, it can only harm you. There is but one enemy, and that enemy is the State! There is but one defense against this demon called government, and that is when individuals, or individuals working together en masse, abolish all rule. The responsibility for you is you, and any dependence on government whatsoever can only lead to despair, hopelessness, disaster, and enslavement. Defend yourself from this evil State, and break the chains that bind you.

“Every government is run by liars. Nothing they say should be believed.”

~ I.F. Stone

Reference links:

America’s perpetual wars of aggression

What the media won’t tell you about the Maui fires

The Bizzarro Effect of Universal Insanity

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By Gary D. Barnett

Source: GaryDBarnett.com

“We do not have to visit a madhouse to find disordered minds; our planet is the mental institution of the universe.”

~ Johann Wolfgang von Goethe

How many times in our lives has it been said or thought that things could not get worse, weirder, more absurd, more dangerous, more immoral, more brutal, more controlling, more restrictive, more perverted, more murderous, or more insane? Can those thoughts even be considered in this day and age of complete and total lunacy? What has happened to mankind, and can it all be blamed on brainwashing and indoctrination by the ruling class over the rest of society? I firmly believe that the causes for the inconceivable problems we see today, go much deeper than just blame on invited masters, and begin at the core of the psyche of humanity. If this is so, the struggle for man’s attempts to regain his sanity, morality, and freedom, are fully dependent on a large swath of society changing dramatically from one of total dependence and expectation of rule, to one of individual worth, and a mandatory acceptance of personal responsibility so overwhelming, as to lead to the total destruction of the State.

You might scoff at such a pronouncement as this, but at this stage of tyranny, indifference, and complete loss of integrity by the masses, nothing short of an absolute and unconditional reshaping of society will suffice in order to eliminate the threat of the extinction of humanity as we know it. We are teetering on the precipice of annihilation, and false hopes or prayers will never be enough to restore this so-called ‘civilization.’ Apathy is our enemy, and can only lead to an enslaved society at the hands of technocratic rulers.

Many might expect the State to implode given the pace of this takeover plot and reshaping of nation states, but what would take the place of the current systems should the weakest fall? Could that be the planned outcome, as with many failed State systems, a global restructuring by the strongest and most brutal countries, just as is the WEF plan indicates, would have a clear advantage in its new world order creation attempt? A transformation is necessary, but that transformation needs to be geared toward a Stateless structure created by individuals, instead of any new political governing scheme.

Real intelligence and critical thinking on this earth are missing in action, and what is disguised as intelligence is rarely ever anything other than State agenda-driven propaganda and lies. This is why what passes for ‘news’ is so unbelievably inaccurate, entirely incorrect, and child-like in nature. That is all that is necessary these days to fool the bulk of society. In other words, thinking is no longer required, as the masses have been conditioned and brainwashed to accept almost any claptrap being spewed by the rulers, fake ‘scientists,’ medical profession, politicians, government, and certainly the media circus made up of State sanctioning whores.

Any who still have the ability to think rationally and intelligently, go through each day in wonder at the wild, insane, and obscene things being reported to the mainstream population; that largest segment of society totally blinded by ignorance, apathy, and in many cases, stupidity. These attitudes make for easy fodder to feed the hopeless, gullible,  and compliant sheep, and are in turn, allowing this heinous State to continue its march toward a globalized world run by the very few.

The completely bogus idea of human-caused ‘global warming’ and fake ‘climate change,’ is now taking shape as the primary reasoning for control over everything and everybody  on earth by the technocrats. This ‘climate’ agenda will now be pursued until the end of life as we know it. It is not at the margin any longer, nor is it anymore hidden. Idiotic headlines concerning so-called weather terror, are expanding by the moment. Sensationalism can now be used universally, as one after another fake disaster looms according to these fraudulent so-called ‘scientists’ and imposters called ‘experts.’

Everything is on the table as extreme warmongers like to claim, but since this war is against all of us, this term takes on a new meaning. Completely asinine headlines continue, as now new and improved fear porn coming from the talking heads of the idiotic and imbecilic mainstream media abound, going so far as to label their fake paranoid ‘global warming’ nonsense as “global boiling.’

But there is so much more happening, as a myriad of false threats is ever upon us, or so the talking heads will claim. New plagues, diseases, ‘viruses,’ killer ticks, (if existent, they were likely to have been purposely created by the military) war threats, and especially ‘climate change’ absurdity. Climate and weather have become totally weaponized, and will be used to control life at most every level now and in the future.

Never forget the non-existent ‘covid pandemic’ lie. It will be revamped, whether as something the same or similar, or some new and approved killer on the loose; so scary as to drive everyone inside, supposedly away from the maddening crowd. Beware the ‘virus’ and emergency hype, as it will never end so long as the masses comply with rule, and obey as slaves.

Perusing just a few ‘news’ feeds will inundate the mind with nonsense, but most see these claims as real or possible; all without any legitimate accompanying evidence. The insane Trump saga leads the way of course, as this stupidity is followed by both sides of the political scam, which helps to keep most of the country at each other’s throats. But there is so much more. The banking sector is bankrupt, and personal and business accounts of many are being closed. Pensions and retirement funds are also being threatened. Cyber attacks are affecting large swaths of this country, and air travel is becoming impossible to deal with at times. The trans scam is continuing and will likely escalate after government schools open up this fall. More UFO reporting is being pursued every week, stores are closing nationwide, inflation is rampant, and the Ukraine false-flag war continues.

Incandescent lightbulbs have been banned, gas stoves and water heaters are targeted as well. There are more bank failures, more trucking company failures, savings are depleted, setting the stage for the digitization of America. CBDC trial and implementation will continue, and widespread default fears are increasing. Interest rates are still rising, as the U.S. credit rating has been downgraded.

The destruction of our world is upon us, as the crumbling of all that is natural and sane is being allowed to take place right before our eyes. All the things mentioned here are not a complete list by any stretch of the imagination, as so many things are going awry in broad daylight, all with little notice by the sheeplike masses. Dependency and indifference are our mortal enemies, We are living in a madhouse; a world at great odds with all sanity, and one that has become indifferent and morally bankrupt. This is not the way forward, but the way to hell on earth.

Finding the individual inside, taking solace in self, and abandoning the State is a better way.

“In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule.”

~ Friedrich Nietzsche

As Maui Burns, Biden Demands Another $24 Billion…For Ukraine

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By Ron Paul

Source: Eurasia Review

I am not a big fan of Federal Government disaster relief. Too much of the time the money never gets to those who need it most, and too often Washington’s armies of disaster “experts” are more interested in pushing people around than helping them.

Nevertheless, it’s hard to look at recent footage of the devastation in Maui and then hear President Biden tell Congress that he needs another $24 billion for Ukraine. How can this Administration continue to justify tens of billions of dollars for this losing war that is not in our interest while the rest of the United States disintegrates?

Biden’s new $24 billion request comes on top of well over $120 billion already spent to fight the US proxy war on Russia in Ukraine. Heritage Foundation budget expert Richard Stern has done the math and determined that Biden’s spending on the Ukraine war thus far will cost each and every American household $900. How many Americans would rather have those $900 dollars back in their pocket rather than in the pockets of Lockheed-Martin, Raytheon, and Ukraine’s oligarchs?

Recent surveys have shown that a majority of Americans could not afford to cover a sudden $1,000 emergency. Will Americans connect the dots and realize that the reason they can’t find that $1,000 for an emergency is because the neocons have already sent it to Ukraine?

Ukraine has long been known as among the most corrupt countries on earth and not long ago investigative journalist Seymore Hersh wrote that Ukrainian president Vladimir Zelensky has embezzled at least $400 million in aid from the American people. Corruption scandals continue to break in Ukraine. Just last week Zelensky fired the heads of all local draft boards for corruption. Some press reports suggest that sales of luxury cars in Ukraine have broken all previous records. I wonder why.

No wonder the tide of US public opinion is turning against further involvement in the war. Recently CNN found that among all Americans, more than 55 percent are opposed to continued aid to Ukraine. Among Republicans the number opposing more aid to Ukraine rises to three-out-of-four. That is why we are finally starting to see more Republican Members raising concerns. I’d like to think they have seen the light that an aggressive and interventionist foreign policy is not in America’s interest, but most likely they are worried about losing elections. Whatever their motivation, this turning tide should be welcomed.

Yet the Biden Administration persists in backing Ukraine even as the US mainstream media is increasingly pointing out the obvious: Ukraine is not winning and cannot win, and continuing to pour money into a losing cause will just result in bankruptcy at home and more dead Ukrainians overseas.

Last week Newsweek published an article asking, “Does Ukraine Have Kompromat on Joe Biden?” In the article, Northeastern University Professor Max Abrahms wonders out loud whether Biden’s continued support for Ukraine might be related to compromising information held in Kiev about the many Biden family shady business ventures in Ukraine and the region. It is certainly worth considering.

Meanwhile, the residents of Maui that survived the recent horrific fire will take little comfort knowing that the Biden Administration is more interested in sending their money to Ukraine than in helping them recover.

The Ukraine Mess is Animal Farm in Reverse: Starring Blackrock and Other Pigs

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By Phil Butler

Source: New Eastern Outlook

Recently, the head of the European Commission, Ursula von der Leyen, said that the European Union should double its assistance to Ukraine. She went on to say the EU should create a support fund of 50 billion euros by the end of the year and that everything should be done to ensure victory on the battlefield for the Ukrainians.

The European Union has created a “support package” for Ukraine for 2023 of up to €18 billion. This money, however, is not in the form of gifts, grants, or to create an emergency war chest. These billions are a loan under an EU macro-financial assistance program dubbed the MFA+ Instrument. In the fine print, EU member states are guaranteeing these loans as well as paying the interest for the Ukrainians. The move is extraordinary given that Ukraine is not an EU member and that, even before the current conflict, was one of the most corrupt governments on Earth. This begs the question, “Why?”

The EU is issuing special bonds to be sold to investors for this purpose at a time when many people in the European Union go without proper healthcare, services, and even employment. The European Union, EU Member States, and European financial institutions have already dispersed some €49 billion to President Zelensky’s regime. This figure, added to the $76.8 billion already funneled to Ukraine, dwarfs any assistance given to any other country in the world. This very conservative report from the Council of Foreign Relations shows the U.S. alone has shoveled more into Zelensky’s coffers than Afghanistan, Israel, Jordan, Ethiopia, and Iraq combined in 2020.

In all, some 47 countries have given money and arms to Ukraine. As of now, EU Institutions (?) handed Zelensky over €30 billion. The UK has forked over about €10 billion as their pensioners worry about what’s for dinner next. Germany has given somewhere around €8 billion, and Japan almost €7 billion. The Netherlands, Canada, and Poland have pitched in about €5 billion each, and the list of others about €14 billion. The numbers, as you would expect, do not all add up. A U.S. News & World Reports story from earlier this year claimed total aid to Zelensky’s country had exceeded €150 billion as of January of this year. Again, why?

The answer, this time, is really simple. BlackRock, and the new investment initiative to rebuild Ukraine (whatever’s left of it). You already knew this, right? Zelensky and BlackRock’s BlackRock CEO Larry Fink met late last year, and in November, the Ukrainian Ministry of the Economy (MoE) and BlackRock Financial Markets Advisory (FMA) signed a memorandum to structure Ukraine’s reconstruction funds (PDF). Also, in on the moneymaking schemes in war-torn Ukraine are Nestlé, International Finance Corporation, the private investment arm of the World Bank, Australia’s Tattarang Group,

Zelensky has called the rebuilding of his country, once it’s been used up as a proxy NATO against Russia, “the greatest opportunity in Europe since World War Two.” Earlier this year, Fink told Barron’s and other financial magazines that Western investors will be “flooding” Ukraine post-war and the country could become “a beacon to the rest of the world of the power of capitalism”. Also, JPMorgan Chase is joining BlackRock to help Ukraine set up a reconstruction bank to steer public seed capital.

This American Conservative report says, “BlackRock Plots to Buy Ukraine,” in a recent editorial. Author Bradley Devlin outlines the Ukraine case, while also revealing how Fink and BlackRock are transforming America into a nation of renters by artificially elevating the prices of normal houses. If ever a man were appropriately named, Fink is that man.

“Why?” Is there any doubt about why some poor untrained bartender from Kyiv is in a foxhole being bombarded by Russian artillery? Doesn’t all the misleading media, inflated Ukraine military gains, and Joe Biden’s cock of the walk attitude toward a peace deal make more sense now? And Ursula, the lady I fondly refer to as Frau von der Clucky for her chicken-like pecking and strutting about while millions either die or are in harm’s way because of all the Western world barnyard antics right out of Orwell’s Animal Farm. While someone’s Dad takes a bullet or shrapnel in Donetsk, our leaders keep crowing, snorting, braying, and hog-wallering in their capitalistic farm dream.

Why? Greed, that’s why.

“Bidenomics” Is A Fraud Based On Deliberately Misrepresented Stats

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By Brandon Smith

Source: Alt-Market.us

Economic issues are some of the most politically abused issues often because the data politicians exploit is easy to present out of context. The vast majority of the public doesn’t spend their time immersed in the intricacies of monetary policy, unemployment stats and the processes of inflation vs deflation. They hear a soundbite on the news or social media once in a while, assume it must be true and then go on with their day.

This is how economic crisis events always seem to take the population by surprise – The establishment tells people all is well and no one questions the narrative in the face of numerous warning signs. Sometimes, the populace continues to believe that everything is fine despite the financial framework burning down around them, all because the “experts” continue to convince them that recovery is “right around the corner.”

There are numerous incentives for government officials and mainstream economists to mislead the citizenry with tales of imminent prosperity in the midst of instability. Primarily, the goal is to keep the middle-class population as docile as possible so that they don’t revolt until it’s too late (the middle class being predominantly conservative, and the greatest threat to any corrupt regime). Understand that economics is the root of power, and economic perception is the key to influencing the masses.

Hidden Indicators And Rampant Money Printing

The reality is that the US was hurtling towards stagflationary disaster ever since the crash of 2008, when Barack Obama and Joe Biden (with the help of the Federal Reserve) oversaw the near doubling of the national debt from $10 trillion to almost $20 trillion – The most egregious abuse of monetary policy that the US had ever seen.

And, keep in mind this was only the officially reported cash. Because of pressure brought by people like Ron Paul in 2011, the government was forced to pursue a limited audit of the Federal Reserve bailouts at that time. This revealed at least $16 trillion created from nothing by the Fed to prop up the failing system.

In 2006, right before the derivatives collapse, the Federal Reserve conveniently and abruptly ended their M3 money supply report. They now only report the M2 money supply, which does not include the vast assets held in corporate coffers, large time deposits in banks, institutional money market funds, short-term repurchase agreements (repo), and larger liquid assets. It was as if they knew an inflationary event was about to take place and they needed to obscure the evidence.

In other words, in economics there is the “official government data” and then there is the REAL data, which is sometimes so hidden it is impossible to quantify.

Even if we only go by the M2 report, the money supply skyrocketed starting in 2020, and rose exponentially through 2021 and 2022 – It jumped by 40% in only two years. This is why the cost of most necessities has risen 25% or more.

I’m sure most readers have noticed that inflation is not going away despite Joe Biden’s claims that he has “cut inflation in half” under his “Bidenomics” plan. This is because inflation is cumulative. The CPI might fluctuate, but the effects of inflation remain as prices tend to increase and stay high perpetually.

There Is No Such Thing As “Bidenomics”

The supposed financial progress that Biden is trying to take credit for has nothing to do with Biden’s policies. Not a thing. Unless, of course, you count market manipulation as a positive.

For example, the reduction in CPI is directly related to the continuous interest rate hikes of the Federal Reserve, which Biden has zero control over. The Fed is autonomous and makes its decisions independent of the White House or government. This is a fact openly admitted by former chairman Alan Greenspan. When the fed raises rates, debt becomes more expensive, lending slows down and thus the economy slows down.

One of the only ways that Biden can influence CPI is through artificial deflation of energy prices. The Biden Administration has been dumping US strategic oil reserves on the market for the past year as a means to suppress oil prices, thereby directly and indirectly keeping the CPI numbers down. This is not progress, it’s economic fraud.

The misuse of stats extends to other sectors, such as Biden’s attempt to take credit for the recent reduction in the US deficit. Again, this has nothing to do with Biden; the Fed’s interest rate hikes make it more expensive for the government to take on debt, therefore, debt spending drops.

It’s also not a situation that signals a recovery in the economy – The Fed continues to hike rates supposedly to stall inflation, but higher rates in a debt heavy environment lead to inevitable deflationary upheaval. As I predicted a year ago, the Fed is continuing to increase interest rates until this happens.

Employment Miracle Or Employment Scam?

This issue has been brought up by many analysts but I’ll touch on it again here because Biden is relentless in his falsehoods when it comes to employment data. FACT: 72% of all “new jobs” Biden takes credit for were originally lost during the pandemic lockdowns. The very lockdowns which Democrats avidly enforced and tried to keep in place perpetually. You can’t take credit for “creating” jobs that you are responsible for destroying.

In terms of higher labor demand, the pressure is in low wage service sector jobs and these are the majority of jobs added since Biden took office. And, this rush into retail/service was purchased with $8 trillion+ in covid stimulus cash along with a moratorium on rent and student loan payments. That much extra money in circulation buys at least a few years of consumer spending, propping up jobs numbers.

Throughout history, such gains from inflationary actions and government interventions are always short term, and they always end with a dramatic plunge in employment once the effects subside.

Biden’s Fake Manufacturing Boom

Biden has recently touted a jump in US manufacturing as the latest achievement of Bidenomics, but like every other claim he makes, you have to look at the context. These are not free market manufacturing facilities built according to market demand. Rather, Biden is pumping billions of taxpayer dollars into green tech, once again artificially engineering a “manufacturing boom” through government subsidies for products that have limited demand.

Biden wants to rig the demand, too, by enforcing climate laws which make gas, oil and coal sources too expensive and solar panels and wind turbines cheaper by comparison. For example, Biden is increasing costs for oil and gas exploration on federal lands, while greatly lowering the prices for building solar farms on federal lands. In other words, the government uses your money to create factories for green tech and then creates laws which force people to use that green tech.

In the meantime, Joe’s manufacturing “boom” paid for with tax dollars also comes at the cost of America’s oil, gas and coal industries, not to mention less energy freedom for the general public. It’s socialism, not a revolution in domestic manufacturing.

For Biden, The Key Is To Create As Many Government Cash Injections As Possible Until 2025

You want to know why Democrats are so angry that the Supreme Court blocked Biden’s plan to make taxpayers cover student loan debts? It’s not because they care about naive college kids who paid too much money for garbage degrees – It’s because student debt relief would immediately add trillions more in spending in the short term to the US economy.

An interesting side effect of the college loan moratorium is the surprising credit boost – As soon as college loan payments were put on hold, millions of former students had their credit ratings increase by default. Meaning, they could now hike their credit limits and spend MORE money they don’t have. It’s an incredibly sneaky way to artificially prop up the system WITHOUT using direct stimulus measures that rely on the central bank. This false boost will disappear by October of this year.

Biden’s constant attempts to introduce infrastructure programs are another way the government can create the illusion of recovery by using debt spending as a means to mitigate the signals of greater fiscal decline. Without Fed stimulus it’s the only option Biden has, and as rates rise it becomes costly.

The bottom line is this – The US economy is on a short timetable as long as the Fed continues to raise interest rates into weakness as a means to suppress inflation. As we witnessed in the spring, higher rates are already breaking the back of mid-tier banks across the western world and the Fed’s backstop funds are only enough to stall the debt crisis for a time. I continue to predict that once the Fed Funds Rate is raised to 6% or more, we will once again see a banking calamity similar to the 2008 crash, but this time if the Fed steps in with a bailout hyperinflation will be the immediate result.

Bidenomics is a sham in every respect. Anything that could be considered an economic improvement is due to the Federal Reserve playing the odds with interest rates. A massive 40% increase in the money supply sure helps in obscuring fiscal weakness as well. Luckily, nearly 60% of Americans in recent polls say they aren’t buying the Bidenomics fairytale – They see the dangers around them every day.

The covid event was a catalyst that revealed all the weaknesses of the US system that many of us in alternative economics have been warning about for years. And now it seems as if the establishment is trying to drag things along for just a little while longer. The reason why is up for speculation, but the fact remains that a broken structure cannot be propped up with stop gaps. I’m doubtful that Biden will be able to ride the wave created by covid stimulus until the end of 2024. Something has to give.

The decline of America is becoming an accepted fact

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By Veniamin Popov

Source: New Eastern Outlook

On July 5 of this year, the New York Times published an article titled “America Lives on Borrowed Money.”

It states that borrowing is expensive. A rising portion of federal earnings, money that could be utilized to help the American people, is returned to investors who buy government bonds in the form of interest payments. Instead of collecting taxes from the rich, the government pays the rich to borrow their money.

According to the Congressional Budget Office, the government will spend more on interest than on national defense by 2029, and interest payments will account for 3.6 percent of national GDP by 2033.

The authors of the article believe that the situation is becoming more and more alarming and painful, and therefore radical decisions should be made.

However, with the growing division of US political forces, these alternatives are no longer visible, especially since “Joe Biden’s global vision is too timid and pessimistic,” according to the British-based Economist.

The fact that President Biden has been indicted with impeachment by the Republican-led House of Representatives cannot be overlooked: On June 22, the House voted 219 to 208 to send two articles of impeachment to the Homeland Security and Judiciary committees, one for abuse of power and the other for dereliction of duty.

What is interesting is the evaluation of the current scenario made not only by Americans but also by political analysts from emerging countries. For example, the Saudi-based Arab News reported on June 25 this year that the United States’ political system is in disarray and the country is extremely fragmented.

The author puts the current problem in the United States on a par with the fall of the Roman Empire: “You cannot be a world leader if your society is crumbling and your leadership is divided, indecisive, and weak.” Especially when the media, once lauded as a strong weapon of truth, has devolved into a tool of political bias motivated by profit rather than principle, and free speech is dead in America.

According to the author, American influence in South America and Africa is likewise dwindling: America has never been weaker than it is today in its relatively short history.

On June 19, this year, Marwan Bishara, a senior political analyst for Al Jazeera TV, noted that signs that the American-dominated world order was crumbling had become increasingly visible over the previous decade and that America’s political and economic decline had affected its global influence and credibility.

Attempts to resurrect US leadership through the so-called “rules-based international system,” according to the author, have failed. This system was perceived as a rigged arrangement that benefited the West over the rest of the world and violated international law.

Back in the spring, well-known American journalist Ross Douthat determined that the elites of the Middle East, Africa, and Central Asia favor Russia and China, and that public opinion in emerging countries is more sympathetic to Russia and China than to America.

Richard Haas, a respected American political analyst who led a prominent think tank, the Council on Foreign Relations, for more than 20 years, went even further in his analysis: “The collapse of the American political system means that for the first time, the internal threat has surpassed the external threat. Instead of being a reliable anchor in an unstable world, the United States has become the deepest source of instability and an unreliable model of democracy.”

In September 2022, current US President Joe Biden spoke of American democracy being on the verge of collapse, clinging by a thread.

In response to this, Gulf News, one of the UAE’s leading publications, said that America today is a house divided. More and more Americans acknowledge that the country’s current status is abnormal.

The summer of 2020’s street violence and instability revealed the actual mental state of the world’s most powerful nation. The United States has long had one of the highest rates of violent crime in the world, and deteriorating public order has expedited the spread of firearms. The United States ranks first in the number of privately owned guns. Researchers at the Small Arms Survey estimated that Americans own 393 million of the 857 million available civilian guns, about 46% of the world’s civilian gun stockpile. According to the same publication, there are 120 guns per 100 Americans. According to the Pew Research Center, 48% of Americans believe that gun violence is a major issue in the country.

According to polls, only 17% of Americans believe the US criminal justice system treats everyone fairly, according to the USA Today website.

Currently, the issue of migration in America has seriously escalated.

Of course, there will be ups and downs in American domestic politics, but one of the most notable trends in recent years has been the growing polarization of the elite, which could lead to a major split of the country.

A new presidential election will be held in 2024, and many objective observers believe that both parties, Republicans and Democrats, will protest the results. Since 2000, contesting presidential elections has been a tradition.

When Hillary Clinton lost to Trump in 2016, the Democratic Party functionaries became full-time election deniers, emphasizing that the Democratic Party leadership and journalists, its supporters, had done nothing wrong: Vladimir Putin and the Russians were to blame, having hacked the election.

In 2020, Trump claimed that his loss to Biden had been the result of election fraud: the election had been stolen. Within weeks, the Republican Party’s mantra became “stop the stealing.”

A recent study found that more than half of Americans now expect another civil war “within the next couple of years,” with numerous forecasts for the end of America.

One of them says that if Trump, or any other Republican, occupies the White House, Californians are taking serious steps toward withdrawing from the United States.

Another scenario that is being seriously studied assumes that red, or Republican states will launch an independence movement if the Democratic Party wins, including Biden’s second term.

Many analysts are debating the prospect of a significant civil conflict in the United States. Meanwhile, some political analysts have noticed a discernible strengthening of the so-called neoconservative positions among the American ruling elite, who are adamant that Washington should be in charge of the entire world and harshly punish those who disagree with them. Their stance on the Ukraine issue has the potential to push the world to the verge of a nuclear war. This group’s careless acts have already generated a sizable number of issues and fresh crises.

In order to find a way out of the current impasse in international affairs, more and more developing countries are turning to Russia and China. They place their expectations in this respect, above all, on the approaching BRICS conference, where the enlargement of this association may be announced.