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Economic Decay Leads to Social and Political Decay
Economic Decay Leads to Social and Political Decay If we want to make real progress, we have to properly diagnose the structural sources of the rot that is spreading quickly into every nook and cranny of the society and culture. It seems my rant yesterday (Let Me Know When It’s Over) upset a lot of people, many […]
The Ultimate Heresy: Technology Can’t Fix What’s Broken
The Ultimate Heresy: Technology Can’t Fix What’s Broken Technology can’t fix what’s broken, because what’s broken is our entire system.. The ultimate heresy in today’s world isn’t religious or political: it’s refusing to believe that technology can not only solve all our problems, it will do so painlessly and without any sacrifice. Anyone who dares to […]
Democracy Is Now a Hindrance to the Imperial State
Democracy Is Now a Hindrance to the Imperial State Democracy is the coat of paint applied for PR purposes to the Imperial State. If we step back from the histrionics of impeachment and indeed, the past four years of political circus, we have to wonder if America’s democracy is little more than an elaborate simulation, a […]
Financial Storm Clouds Gather
Financial Storm Clouds Gather The price of this “solution”–the undermining of the financial system–will eventually be paid in full. The financial storm clouds are gathering, and no, I’m not talking about impeachment or the Fed and repo troubles–I’m talking about much more serious structural issues, issues that cannot possibly be fixed within the existing financial system. […]
The Black Swan Is a Drone
The Black Swan Is a Drone What was “possible” yesterday is now a low-cost proven capability, and the consequences are far from predictable. Predictably, the mainstream media is serving up heaping portions of reassurances that the drone attacks on Saudi oil facilities are no big deal and full production will resume shortly. The obvious goal […]
What a Relief that the U.S. and Global Economies Are Booming
What a Relief that the U.S. and Global Economies Are Booming Doing more of what’s failed for ten years will finally fail spectacularly..It was a huge relief to see the charts of the Baltic Dry Index (BDI) and the U.S. retail sector ETF (RTH): both have soared to the moon, signaling that both the U.S. […]
Will Everything Change in 2020-2025 or Will Nothing Change? Any domino-like expanding crisis will unfold in a status quo lacking any coherent response. Longtime readers know I’ve often referenced The Fourth Turning, the book that makes the case for an 80-year cycle of existential crisis in U.S. history. The first crisis was the constitutional process (1781) following […]
The Fantasy of Central Bank “Growth” Is Finally Imploding
The Fantasy of Central Bank “Growth” Is Finally Imploding Having destroyed discipline, central banks have no way out of the corner they’ve painted us into. It was such a wonderful fantasy: just give a handful of bankers, financiers and corporations trillions of dollars at near-zero rates of interest, and this flood of credit and cash into […]
It’s Not Just the News That’s Fake–Everything’s Fake
It’s Not Just the News That’s Fake–Everything’s Fake That we fall for the fakes and cons is understandable, given that’s all we have left in the public sphere. What do we mean when we say corporate media is fake? We mean it’s a carefully crafted con, a set of narratives, cherry-picked data and heavily massaged […]
The Planetary Insanity of Eternal Economic Growth
The Planetary Insanity of Eternal Economic Growth This is the fantasy: we can rebuild our entire global industrial society every generation or two forever. “Earthrise” is one of the most influential photographs ever published. Taken on the Apollo 8 mission in late December 1968 by astronaut Bill Anders, it captures Earth’s uniqueness, isolation and modest scale: […]
Following in Rome’s Footsteps: Moral Decay, Rising Inequality
Following in Rome’s Footsteps: Moral Decay, Rising Inequality Here is the moral decay of America’s ruling elites boiled down to a single word. There are many reasons why Imperial Rome declined, but two primary causes that get relatively little attention are moral decay and soaring wealth inequality. The two are of course intimately connected: once the […]
Dear Central Bankers: Prepare to be Swept Away in the Next Wave of Populism
Dear Central Bankers: Prepare to be Swept Away in the Next Wave of Populism The political moment when the “losers” connect their discontent and decline with central bankers is approaching. The Ruling Elites’ Chattering Classes still haven’t absorbed the key lesson of the 2016 U.S. presidential election: the percentage of the populace that’s becoming wealthier and […]
The Self-Destructive Trajectory of Overly Successful Empires
The Self-Destructive Trajectory of Overly Successful Empires It’s difficult not to see signs of this same trajectory in the U.S. since the fall of the Soviet Empire in 1990.A recent comment by my friend and colleague Davefairtex on the Roman Empire’s self-destructive civil wars that precipitated the Western Empire’s decline and fall made me rethink […]
