And “our” best thinking got us here:
When a world already in trouble was hit by a severe financial crisis in September 2019, the dose of debt was already excessive. But as the Fed and the ECB opened the money spigots fully, they filled the world with poisoned or fake money. The BY team (Biden & Yellen) will now be certain to finish this process with their profligate spending plans.
MAJOR CENTRAL BANKS BALANCE SHEETS UP 6X SINCE 2006
The financial system has been poisoned for decades by governments’ excess spending and central banks’ prodigal printing of toxic and worthless money.
It’s amazing how so many incredible fortunes are made now by just moving pieces of paper or digital bits around. The notion that the financial world is focused on the fundamentals of a productive economy is absurd. Mr. Von Greyerz publishes a graph showing the take of total income that the tip top 10% enjoy. On the eve of the Depression, it was 50% and now it’s the same. From 1940 to 1980 their take went down to the mid 30s, a period Von Greyerz labels the American Dream. But it’s gone. People today hang by a thread.
I emphasize that “capitalism” is something amazingly productive and creative but that it can only operate correctly in a symbiotic relationship with government. Ordered liberty if you will but with a focus on production and growth.
What is wrong with the current approach is not “capitalism” but the failure of the political class to concern itself with anything other than cashing in, short-term gain, gaming the system (electoral as well as economic), or pandering to minorities for political leverage and, now, control. Every last significant act of the federal monstrosity since the start of the Great Society has been utterly without regard to long-term consequences — creation of a dependent welfare class, consequent destruction of the nuclear family, hyperfeminism, absurd censorship, mass surveillance, Glass-Steagal repeal, “climate” anything, off-shoring, mass third-world immigration, fiscal lunacy, monetary panic, and pointless, ruinous war in pursuit of our dumbass notion that the world needs and hungers for our, so help me God, leadership. Because . . . wait for it . . . “our democratic values.”
This is the perfect formula for the creation of a crisis of legitimacy that the Tea Party and Donald Trump only hinted at politely. Congress strains at a gnat (Russia!!, vindictive impeachment of Trump, Capitol Hill “insurrection”) but swallows a camel (National Guard around the Capitol, year-long AntiFa criminality, alliance with terrorists in Syria, sanctions against naughty foreigners, unbelievable lockdown destruction blithely ordained, fiscal hemorrhage, spit-in-your-face plutocracy).
But the political class are oblivious and, as an earlier post showed, have in their infinite wisdom embarked on a strategy of currency debasement as a way to fiddle their way out of the predicament caused by their abysmal stewardship and utter lack of fidelity to the Constitution and the nation. Unlike the socialist and progressive morons, I don’t want to fiddle with “capitalism” by adding more cars for its magnificent engine to pull or throwing sand in the gears. I do think that major changes are in order that are premised on pure populism, namely, reducing the inordinate economic and polical power of a tiny class of humans who seem to think they are gods and can determine the fortunes of mere human flotsam and jetsam. Great Reset anyone? And we all know what that entails, don’t we? No. No Great Reset. Kcuf that. The Great Devolution, is more like it. Dumping Citizens United and gutting the federal government like a hog. For starters. Then deporting every last illegal alien with a vengeful fury that would make Sam Jackson turn pale.
Then there’s this kind of poison:
Protests premised on baseless claims of alleged voter fraud and irregularities were to blame for President Donald Trump’s electoral defeat have rocked state capitol buildings and election centers at a regular pace since the November 3 election. These so-called “Stop the Steal” rallies have often attracted far-right elements, including militia movement groups, pro-civil war “Boogaloo” supporters, violence-prone Proud Boys members, white nationalist activists, and conspiracy theory driven extremists. A handful of far-right figures, including white nationalist podcaster Nicholas Fuentes and conspiracy theorist broadcaster Alex Jones, have received top billing at a handful of Stop the Steal protests. Other events have featured speakers who are notorious for creating and spreading disinformation online.
Thus are the great issues discussed in the public square.
 “Von Greyerz: How Will It All End?” By Egon von Greyerz, ZeroHedge, 2/22/21.
 “#StopTheSteal protest website tied to extremist-linked activist’s digital marketing firm.” By Jared Holt, Digital Forensic Research Lab, 12/3/30 (emphasis added).