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Fourth Turning Economics

Fourth Turning Economics

“In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses and further emergencies. The core elements of these scenarios (debt, civic decay, global disorder) will matter more than the details, which the catalyst will juxtapose and connect in some unknowable way. If foreign societies are also entering a Fourth Turning, this could accelerate the chain reaction. At home and abroad, these events will reflect the tearing of the civic fabric at points of extreme vulnerability – problem areas where America will have neglected, denied, or delayed needed action.” – The Fourth Turning – Strauss & Howe 

Image result for total global debt 2019

The quote above captures the current Fourth Turning perfectly, even though it was written more than a decade before the 2008 financial tsunami struck. With global debt now exceeding $250 trillion, up 60% since the Crisis began, and $13 trillion of sovereign debt with negative yields, it is clear to all rational thinking individuals the next financial crisis will make 2008 look like a walk in the park. We are approaching the eleventh anniversary of this crisis period, with possibly a decade to go before a resolution.

As I was thinking about what confluence of economic factors might ignite the next bloody phase of this Fourth Turning, I realized economic factors have been the underlying cause of all four Crisis periods in American history.

Debt levels in eurozone, G7, US and Germany

The specific details of each crisis change, but economic catalysts have initiated all previous Fourth Turnings and led ultimately to bloody conflict. There is nothing in the current dynamic of this Fourth Turning which argues against a similar outcome. The immense debt, stock and real estate bubbles, created by feckless central bankers, corrupt politicians, and spineless government apparatchiks, have set the stage for the greatest financial calamity in world history.

 …click on the above link to read the rest of the article…

2019 From a Fourth Turning Perspective

2019 FROM A FOURTH TURNING PERSPECTIVE

“An impasse over the federal budget reaches a stalemate. The president and Congress both refuse to back down, triggering a near-total government shutdown. The president declares emergency powers. Congress rescinds his authority. Dollar and bond prices plummet. The president threatens to stop Social Security checks. Congress refuses to raise the debt ceiling. Default looms. Wall Street panics.” – The Fourth Turning – Strauss & Howe

Image result for budget impasse trump schumer

Strauss and Howe wrote their book in 1996. They were not trying to be prophets of doom, but observers of history able to connect events through human life cycles of 80 or so years. Using critical thinking skills and identifying the most likely triggers for crisis: debt, civic decay, and global disorder, they were able to anticipate scenarios which could drive the next crisis, which they warned would arrive in the mid-2000 decade. The scenario described above is fairly close to the current situation, driven by the showdown between Trump and the Democrats regarding the border wall.

It has not reached the stage where all hell breaks loose, but if it extends until the end of January and food stamp money is not distributed to 40 million people (mostly in urban ghettos) all bets are off. The likelihood of this scenario is small, but there are numerous potential triggers which could still make 2019 go down in history as a year to remember.

As we enter the eleventh year of this Fourth Turning, the fourth Crisis period in U.S. history, the mood of U.S. citizens and citizens around the globe continues to darken. Fourth Turnings are driven by generational configuration and the emotional reaction to events by the Prophet generation leaders, Nomad generation spearheads, and Hero generation cannon fodder.

…click on the above link to read the rest of the article…

The Fourth Turning & War of the Worlds

THE FOURTH TURNING & WAR OF THE WORLDS

Image result for fake news cnn Image result for illegal immigrant invasion

Image result for bomb hoax Image result for fourth turning war

“In retrospect, the spark might seem as ominous as a financial crash, as ordinary as a national election, or as trivial as a Tea Party. The catalyst will unfold according to a basic Crisis dynamic that underlies all of these scenarios: An initial spark will trigger a chain reaction of unyielding responses and further emergencies. The core elements of these scenarios (debt, civic decay, global disorder) will matter more than the details, which the catalyst will juxtapose and connect in some unknowable way. If foreign societies are also entering a Fourth Turning, this could accelerate the chain reaction. At home and abroad, these events will reflect the tearing of the civic fabric at points of extreme vulnerability – problem areas where America will have neglected, denied, or delayed needed action.” – The Fourth Turning – Strauss & Howe

The paragraph above captures everything that has happened, is happening, and will happen during this Fourth Turning. It was written over two decades ago, but no one can deny its accuracy regarding our present situation. The spark was a financial crash. The response to the financial crash by the financial and governmental entities, along with their Deep State co-conspirators who created the financial collapse due to their greed and malfeasance, led to the incomprehensible election of Donald Trump, as the deplorables in flyover country evoked revenge upon the corrupt establishment.

The chain reaction of unyielding responses by the left and the right accelerates at a breakneck pace, with absolutely no possibility of compromise. A new emergency or winner take all battle seems to be occurring on a weekly basis, with the mid-term elections as the likely trigger for the next phase of this Fourth Turning.

…click on the above link to read the rest of the article…

Winter is Coming (Part Three)

WINTER IS COMING (PART THREE)

“The very survival of the nation will feel at stake. Sometime before the year 2025, America will pass through a great gate in history, commensurate with the American Revolution, Civil War, and twin emergencies of the Great Depression and World War II.” – Strauss & Howe The Fourth Turning 

Image result for swirling fog game of thrones

In Part One of this article I laid out the reasons for Gray Champions arising to meet challenges during crisis periods in history. In Part Two of this article I assessed the configuration of Gray Champions throughout the world and the potential impact on the course of this Fourth Turning.

The swirling fog of confusion enveloping the globe as the high lords of the universe play their game of thrones has even the most critical thinking individuals baffled by the course of events. The desperation and blatant lawlessness of the Deep State players in their endeavor to preserve their hegemony over the course of global affairs is palpable with every attack, false flag, accusation, and ratcheting up of their propaganda media machine.

Like Game of Thrones, the behind the scenes machinations, subterfuge, and deceptions taking place outside the purview of the common folk are designed to only benefit the rich and powerful players undertaking these traitorous actions. Open warfare will not happen until it is thought to be in the best interests of those manipulating the levers of society and the narrative produced by their perpetual propaganda media machine. But, in the end, it will be the innocent common people who will suffer the consequences, while the lords reap the riches, glory and power.

“Why is it always the innocents who suffer most, when you high lords play your game of thrones?”Lord Varys – George R.R. Martin, Game of Thrones

…click on the above link to read the rest of the article…

Winter is Coming

WINTER IS COMING

“Summer will end soon enough, and childhood as well.” – George R.R. Martin, Game of Thrones

Image result for winter is coming game of thrones

“Reflect on what happens when a terrible winter blizzard strikes. You hear the weather warning but probably fail to act on it. The sky darkens. Then the storm hits with full fury, and the air is a howling whiteness. One by one, your links to the machine age break down. Electricity flickers out, cutting off the TV. Batteries fade, cutting off the radio. Phones go dead. Roads become impassible, and cars get stuck. Food supplies dwindle. Day to day vestiges of modern civilization – bank machines, mutual funds, mass retailers, computers, satellites, airplanes, governments – all recede into irrelevance.

Picture yourself and your loved ones in the midst of a howling blizzard that lasts several years. Think about what you would need, who could help you, and why your fate might matter to anybody other than yourself. That is how to plan for a saecular winter. Don’t think you can escape the Fourth Turning. History warns that a Crisis will reshape the basic social and economic environment that you now take for granted.” – Strauss & Howe The Fourth Turning

I’m always a little behind when it comes to popular TV, especially when the shows are on premium cable channels. Being cheap, I’ve refused to pay for any premium cable channels, plus I’ve spent much of my life on baseball fields and in hockey rinks, rather than watching TV. When my kids recently signed up for HBO Now, I finally got to watch The Sopranos, eleven years after its final episode aired. Now I’m finally able to watch Game of Thrones, after it has been on the air for seven seasons. In the opening episodes I was impressed by the theme which permeates the series. Numerous characters stated “Winter is Coming”. I was immediately struck by the parallels with the Fourth Turning theory about the cyclical nature of our world.

…click on the above link to read the rest of the article…

Keep Going. This Too Shall Pass.

Keep Going. This Too Shall Pass.

Like the weather when a storm approaches, or as the seasons turn, or waves pounding on a shoreline, any deviations are measured and compared by speed and intensity.  The same can be said for headlines:  Omnibus, discouraged Deplorables, rumors of war, prospects of peace, economic bubbles, fluctuating markets, and political intrigue.  Round and round it goes; when it ends, nobody knows. It’s a time of transition; and when traveling over mountaintops, through valleys, and on rough seas, no one has all of the answers.

Even when looking at maps.

The books, Generations (1992) and The Fourth Turning (1997), were written by the historians William Strauss and Neil Howe. These recent explorers identified recorded cycles of history and categorized them across multiple cultures and eras.  In both books, historical timelines were analyzed and populations were correlated to specific life-cycles labeled as generational types.  Strauss and Howe additionally addressed the concept of time in the context of both circular and linear perspectives and defined what is called a “saeculum” as a “long human life” measuring roughly 80 to 90 years.  Every saeculum is comprised of four turnings, each lasting around 20 years.

Just as there are four seasons consisting of spring, summer, fall and winter, there are also four phases of a human life represented in childhood, young adulthood, middle age and elderhood.  As each phase of human life represents approximately 20 years, so is each generational archetype identified within the historical cycles, or turnings, as follows.

…click on the above link to read the rest of the article…

Fourth Turning’s Neil Howe: “Today’s Demographics Defy Conventional Wisdom”

John Mauldin interviewed Fourth Turning best-selling author and demographics expert, Neil Howe about generational changes and their effect on the markets, during a session at the Strategic Investment Conference 2018.  Howe said that demographics and generational factors have a huge impact on equity prices in the long run. Not only that, he thinks that there’s now a generational shift in wealth distribution that could spark major political and economic disruption.

Today’s Demographics Defies Conventional Wisdom

The main example Howe shared is that people in the 75+ age bracket still dominate stock ownership by far. This defies conventional wisdom that people reduce risk as they retire and leave the workforce. Meanwhile, Millennials have lower income and stock ownership levels than previous generations did at the same age.

This is a key change as senior adults once had the highest poverty rates. Younger people are now challenging that once-safe assumption.

Neil Howe

Howe also pointed out striking differences between early and late Baby Boomers. Those born in the mid/late 1940s inherited some of the Silent Generation’s wealth and good fortune. Late-stage Boomers born in the early 1960s score lower in all kinds of metrics.

Major Political and Financial Disruption Is Ahead

Neil Howe ended  with an update on his Fourth Turning generational theory. He thinks we are about midway through it. From an economic standpoint, he foresees inflation fear and Fed tightening, which will be followed by a painful recession.

Politically, Millennials desperately want civic re-engagement. They are seeking to completely restructure institutions. The right wing is a brick wall on this subject and numbers have let them hold off the pressure so far. This will change as Millennials grow older and Boomers die.

…click on the above link to read the rest of the article…

Muck’s Minute #48 Future of Mankind Part III

Muck’s Minute #48 Future of Mankind Part III

Authors’ note: The response to the first few parts of this series show that the vast majority of readers are myopic in their view point. This series is about l-o-n-g t-e-r-m consequences of currently occurring happenings. It is not intended to be thought of as a One Turning forecast or even multiple 4TH Turnings. A turning is between 80-100 years and I’m talking about a thousand years and specie survival. I’ll try and rein in my long term view after this series and get back to talking about next month.

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Start Part III

The higher productivity of agriculture is the reason why population density and growth has fallen off the table as a popular subject to debate. Additionally, religion that espouses moral opposition to birth control in any fashion (including abortion) is spreading throughout undeveloped areas of the world ( as well as the USA’s swing to evangelical prominence) so we can be sure that more and more of the extra food production technology makes possible will be swallow up faster and faster. Worse luck, that, and our greatgrandchildren will live to regret it. True, this must be balanced against the fact that the more education women get, the fewer children they tend to have. You can also have a problem like they have in China with their “one child” policy that had led them to a demographical time bomb about to go off. On balance, population will still increase with time.

What is far more likely the result of continuing population expansion is war. Wars are fought over possession and control of land. There are, of course, other excuses for fighting a war, such as wars based on religious or cultural differences, but throughout the history of human conflict, fighting over the control of land and the resources thereon is the basis for war.

…click on the above link to read the rest of the article…

The Unbearable Slowness of Fourth Turnings

THE UNBEARABLE SLOWNESS OF FOURTH TURNINGS

“The next Fourth Turning is due to begin shortly after the new millennium, midway through the Oh-Oh decade. Around the year 2005, a sudden spark will catalyze a Crisis mood. Remnants of the old social order will disintegrate. Political and economic trust will implode. Real hardship will beset the land, with severe distress that could involve questions of class, race, nation and empire. The very survival of the nation will feel at stake. Sometime before the year 2025, America will pass through a great gate in history, commensurate with the American Revolution, Civil War, and twin emergencies of the Great Depression and World War II.” – Strauss & Howe The Fourth Turning 

This Fourth Turning was ignited suddenly in September 2008 as the housing bubble, created by the Federal Reserve and their criminal puppeteer owners on Wall Street, collapsed, revealing the greatest control fraud in world history. A crisis mood was catalyzed as the stock market dropped 50%, unemployment surged to highs not seen since 1981, foreclosures exploded, and captured politicians bailed out the criminal bankers with the tax dollars of the victims.

The mood of the country darkened immediately as average Americans flooded their congressmen’s websites and phone lines with a demand not to bailout the felonious Wall Street banks with $700 billion of TARP. But they ignored their supposed constituents and revealed who they are truly beholden to.

Trust in the political and financial system disintegrated and has further deteriorated as the ruling elite continue to loot and pillage as if the 2008/2009 global financial meltdown never happened. From the perspective of the archaic social order there is no longer a crisis. The recovery narrative, flogged ceaselessly by the crooked establishment and their propaganda fake news corporate media mouthpieces, has convinced millions of willfully ignorant Americans progress is occurring.

…click on the above link to read the rest of the article…

Fourth Turning’s Neil Howe Fears “Strong Parallels” Between 1930s And Today: “It’s Going To Be A Rollercoaster Ride”

Fourth Turning’s Neil Howe Fears “Strong Parallels” Between 1930s And Today: “It’s Going To Be A Rollercoaster Ride”

This week on the MacroVoices podcast, host Erik Townsend interviewed Neil Howe, co-author of The Fourth Turning, an investing tract that’s found renewed relevance thanks to White House Chief Strategist Steve Bannon, who’s cited it as an inspiration for his (and by extension, President Donald Trump’s) worldview.

According to the New York Times, which published a story earlier this year explaining the theories encapsulated in the book, the Fourth Turning was “written by two amateur historians, making the case that world events unfold in predictable cycles of roughly 80 years each, and that they can be divided into four chapters, or turnings: growth, maturation, entropy and destruction. Western societies have experienced the same patterns for centuries, the book argues, and they are as natural and necessary as spring, summer, fall and winter.”

Few books have been as central to the worldview of Mr. Bannon, a voracious reader who tends to see politics and policy in terms of their place in the broader arc of history.”

Turner shares Bannon’s enthusiasm, saying in his preamble that he believes the Fourth Turning is “the most important investing book of our time…I am such a big fan of this book personally that I literally named my own investment management company Fourth Turning Capital Management after Neil’s work.”

During the interview, Turner and Howe discussed Howe’s conclusion that America is presently in the middle of a 20-year-long period of social, economic and political upheaval.  

Howe begins by explaining how the first book written by himself and William Strauss, with whom he also collaborated on the Fourth Turning, introduced him to the idea that America’s economy and culture follow distinct patterns.

…click on the above link to read the rest of the article…

Navigating Through the Storms

NAVIGATING THROUGH THE STORMS

Several weeks ago I had to drive west on the Pennsylvania Turnpike to pick up my son after his sophomore year at Penn State. I’ve made this trip a dozen times over the last few years, since this is my second son attending Penn State, with a third starting in the Fall. It’s a tedious, boring, protracted, four hour trek through the rural countryside of the Keystone State. During these trips my mind wanders, making connections between the landscape and the pressing issues facing the world. I can’t help but get lost in my thoughts as the miles accumulate like dollars on the national debt clock.

More often than not I end up making the trip in the midst of bad weather. And this time was no different. The Pennsylvania Turnpike is a meandering, decades old, dangerous, mostly two lane highway for most of its 360 mile span. Large swaths of the decaying interstate are under construction, as the narrative about lack of infrastructure spending is proven false by visual proof along the highways and byways of America.

The real infrastructure crisis is below ground in urban shitholes where 100 year old water and sewer pipes fail on a regular basis, but bankrupt Democrat politicians divert their steadily declining tax revenues to bloated pensions of government lackeys. Infrastructure spending is only interesting to politicians if they can name it after themselves and have a ribbon cutting ceremony. Replacing water and sewer pipes before they explode isn’t sexy, so it won’t be done.

A winding two lane highway, with a speed limits of 70 mph, and jam-packed with 18 wheelers driven by sometimes sleepy and often aggressive truckers already leads to a pressure packed few hours. Add rain to the mixture and you ratchet up the blood pressure.

…click on the above link to read the rest of the article…

The Horror! The Horror! (Part Two)

THE HORROR! THE HORROR! (PART TWO)

In Part One of this article I detailed how propaganda has been utilized by the Deep State for decades to control the minds of the masses and allow those in control to reap the benefits of never ending war. In Part Two I will discuss recent events, false flags, and propaganda campaigns utilized by the Deep State to push the world to the brink of war.

“We penetrated deeper and deeper into the heart of darkness”Joseph Conrad, Heart of Darkness

The use of graphic images, electronically transmitted across the world in an instant, along with a consistent false narrative promoted by the captured corporate media, is the preferred means of appealing to the emotions of those who want to believe atrocity propaganda. Instigating a march to war through the use of unfounded fear, misinformation, staged photo ops, and appealing to passions and prejudices was as revolting to Albert Einstein  in the 1930s as it is today to normal thinking individuals.

“He who joyfully marches to music in rank and file has already earned my contempt. He has been given a large brain by mistake, since for him the spinal cord would fully suffice. This disgrace to civilization should be done away with at once. Heroism at command, senseless brutality, deplorable love-of-country stance, how violently I hate all this, how despicable and ignoble war is; I would rather be torn to shreds than be a part of so base an action! It is my conviction that killing under the cloak of war is nothing but an act of murder.” – Albert Einstein

It seems the level and intensity of the propaganda campaigns has ratcheted up dramatically in the last half dozen years and appears to be reaching a crescendo as we speak.

…click on the above link to read the rest of the article…

Civil War II–Fourth Turning Intensifying (Part 1)

CIVIL WAR II – FOURTH TURNING INTENSIFYING (PART I)

“History offers even more sobering warnings: Armed confrontation usually occurs around the climax of Crisis. If there is confrontation, it is likely to lead to war. This could be any kind of war – class war, sectional war, war against global anarchists or terrorists, or superpower war. If there is war, it is likely to culminate in total war, fought until the losing side has been rendered nil – its will broken, territory taken, and leaders captured.” – The Fourth Turning – Strauss & Howe -1997

As we enter the final stretch of this vitriolic, deplorable, venomous, propaganda saturated, deceitful, rigged presidential election spectacle, it becomes painfully obvious this Fourth Turning is careening toward bloodshed, bedlam, confrontation, and civil war. The linear fixated establishment, who fancy themselves intellectually superior to the irredemables, are too blinded by their sociopathic, increasingly audacious subversion of the Constitution, to grasp the level of rage and disillusionment of a white working class that has been screwed over for decades.

As the Wall Street shysters frantically accelerate their embezzlement of what remains of middle class wealth, with the Fed and the corporate media propagandists as their wing-men, the country devolves into a corporate fascist state. The disposition of the nation grows dark like the sky before an approaching deadly blizzard. As passions boil over and violence portends, this Fourth Turning hastens towards a bloody decade ahead with an uncertain climax.

If you think this is just hyperbole, you either haven’t studied history or your cognitive dissonance and normalcy bias prevent you from seeing the unavoidable societal altering clashes, which occur like clockwork on an eighty year cycle, when the portents are right in front of your eyes. Historian Arnold Toynbee’s great war cycle that arise every 80 years or so, aligns perfectly with the Fourth Turninggenerational theory. Great wars occur when the generation that doesn’t remember the last catastrophic war ascends to leadership of the country.

…click on the above link to read the rest of the article…

Lit and Sputtering

You can see where the trajectory of events is leading. The country will be distracted by racial strife this summer while the global banking system implodes, disabling trade relations and the super-long supply chains we depend on for all common goods from oil to fresh food. Unless the remnants of the Republican Party act responsibly and find a way to replace Trump with a capable candidate, the nation will get what it deserves: a clown in the white house at the climax of the Fourth Turning.

The racial events of recent days resonate in a fog of cognitive dissonance. What really happened in those two incidents involving Philando Castile in Falcon Heights, Minnesota, and Alton Sterling in Baton Rouge Louisiana? Too many people pretend to know exactly why these two men were shot by cops. The video recordings of the incidents are ambiguous. In the Castile case, the recording doesn’t start until just after the deed is done.

Given the universal hyper-awareness of the current mood around the country, I doubt that policemen would throw away their livelihoods for a few thrilling seconds of malice. They know exactly what happens after the gun comes out: suspension, investigation, end-of-career, possibly civil prosecution, lawyers and more lawyers, a special hell of lawyers, and no way to make a living in the meantime. In a word: ruin.

These two incidents were followed by the shootings in Dallas by one Micah Johnson of twelve cops, five of whom died. That matter was not so ambiguous. The authorities quickly determined what happened and why. It is likely to lead to more assassinations and bushwhackings of police because a peculiar social mechanism gives people permission to re-enact atrocities once certain lines are crossed. We saw that in the political assassinations that commenced in the 1960s. The Jihadi beheadings and other monstrosities work similarly.

…click on the above link to read the rest of the article…

14 Signs the World Is on the Verge of Generational Chaos

14 Signs the World Is on the Verge of Generational Chaos

It is one of the great ironies of life that each generation believes its experiences are unique. The reality is that we have seen this movie before—with different actors, plot twists, and technological advancements.

The basic plot seems to push along a hauntingly familiar path.

In 1997, Neil Howe and William Strauss introduced the concept of Fourth Turning. They divided the population into four generational archetypes: Hero, Artist, Prophet, and Nomad. (read more about the archetypes and their characteristics here)

Each generation consists of people who were born and came of age at the same period in history. They had similar experiences and thus gravitated toward similar attitudes.

The change of control from one generation to the next is called a “turning” in the Strauss/Howe scheme. On a Fourth Turning, the cycle repeats, sparking a generational crisis.

When Howe uses that word, he doesn’t mean a short period of difficulty. He means an existential crisis—one in which society’s strongest institutions collapse (or are severely challenged and stressed) and national survival is in serious doubt.

By Neil Howe’s timeline, we are today about halfway through the Fourth Turning’s Crisis phase. If this Fourth Turning is like previous ones, here is what we should see.

See how the following Fourth Turning characteristics match today’s landscape…

Rising community

Notice in the Orlando shooting coverage how often people use the word community to designate the different groups with which people identify.

Following the tragic nightclub events, Orlando’s communities drew together to support their members and each other. We see the same behavior in other stressful events. “Je suis Charlie,” the motto that emerged from the January 2015 Paris shootings, comes to mind.

…click on the above link to read the rest of the article…

 

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