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China Unveils A Housing Market Bailout: Here’s What’s In It, And Why It Is Still Not Enough

China Unveils A Housing Market Bailout: Here’s What’s In It, And Why It Is Still Not Enough

More than four years ago, when China first launched its latest “deleveraging” campaign targeted at bursting the country’s housing bubble in a controlled fashion, which coincidentally was the single largest asset for China’s massive middle class, we – and many others – said that this experiment was doomed and that all China is doing is delaying the inevitable bailout of the property sector with another metric asston of new debt. Well, as the news overnight confirmed, we were right… but not before China saw all of its largest domestic real estate developers collapse, push its housing market into a deflationary tailspin from which the country has not yet recovered, and suffered five years where its economy stagnated and pushed social tension to the edge.

So what happened?

On Friday, Chinese policymakers unveiled a fresh batch of easing measures for the housing market, including:

  1. clear top-down guidance for local governments to purchase existing housing inventory for public housing provision,
  2. an RMB300bn relending quota for destocking the housing market,
  3. reductions in downpayment ratios and mortgage rates,
  4. more policy support to secure the delivery of pre-sold homes.

Needless to say, local government (which is really just an extension of the central government) purchases of existing housing inventory is for lack of a better word, nationalization, and as Goldman writes in its post-mortem (pdf available to pro subs), if implemented at scale, can help stabilize home sales, prices and completions, but the boost to new starts and land purchase would be limited.

And while lower downpayment ratios and mortgage rates may boost home sales to some degree, the magnitude of downpayment ratio reductions was relatively small this time, and the pace of cuts to effective mortgage rates could be somewhat constrained by bank net interest margins.

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

Managing Chaos: Adventures in Alternative Media. Greg Guma

Managing Chaos: Adventures in Alternative Media. Greg Guma

An eye-witness account that explores the unique, tumultuous history of Pacifica radio and alternative media in America.

After an eclectic career, Greg Guma discusses the evolution of radio and television, the impacts of concentrated media ownership, the rise of the alternative press, his own work in Vermont — before and during a progressive revolution that changed the state’s power structure, and decades later, how he managed the original listener-supported radio network.

Weaving together an intimate chronicle of what he saw as Pacifica Radio’s first post-revolution CEO and episodes from his earlier life as a reporter, editor and activist, Guma explores the challenges of maintaining democratic institutions in a culture of distrust and polarization, of striking the delicate balance between truth and advocacy, observation and participation, and of managing conflicts with persuasion instead of force. 

Managing Chaos is a media saga, a personal story, and a cautionary tale.

…a skilled writer who has immersed himself in Vermont life and politics for decades.  — Sasha Abramsky

…the first executive in Pacifica who has been willing, and able, to share his experiences…. They ought to be required reading for all PNB and LSB members.  —  Nalini Lasiewicz

Excerpts from the Book

“The deeper I looked the more convoluted and intractable the problems appeared: Charges and counter-charges of secrecy, waste, racism, sexism, harassment and violence, turf battles over local fiefdoms, manipulation, and alleged fraud. It seemed like a fratricidal war with no end in sight. 

“It reminded me of how easily reality can be blurred by misinformation. That July, Jeff Ruch, the director of Public Employees for Environmental Responsibility, had issued a relevant assessment of a much larger and even more dysfunctional organization. ‘The federal government,’ he concluded, ‘is suffering from a severe disinformation syndrome.’

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

An Urgent Matter

An Urgent Matter

“If the government can suspend your rights anytime it deems something is a crisis, you don’t have rights. You have permissions.” — “Pismo” on “X”

While our country sleepwalks through the deadly aftermath of the evil Covid-19 operation, the World Health Organization (WHO) puts the final touches on a nice bit of fuckery called its Pandemic Treaty on International Health Regulations (IHR) or “One Health” initiative, a Globalist power grab disguised in the saintly white robes of public health medicine. The agreement, to be finalized at the end of this month, will cede what’s left of your liberty to this unelected bureaucracy for the sake of global “equity and inclusivity,” meaning more lockdowns, constant surveillance, forced “vaccinations,” restrictions on medications, and censorship of anyone who voices a contrary opinion of these actions.

Sound familiar? Yeah, it’s Covid-19 all over again, a second crack at controlling everything you do and every choice you might make by a cabal of governments and corporations, in other words, an international gang of fascists. The WHO is an agency of the United Nations, run out of Switzerland. You might recall this is the same place where the World Economic Forum (the WEF, a.k.a. “Davos”) has its headquarters. For years, the WEF has been issuing blueprints for a techno-fascist global regime under which, they state baldly, “you will own nothing and be happy.” (And eat bugs.)

These birds are not kidding around, though anyone can see the megalomania on display, the grandiose will-to-power that seeks to subjugate the plebes of the world — and radically decrease our numbers — so that a remaining tiny elite can enter into a post-modern, techno-transhuman utopia uncluttered with us “useless eaters.” The corporate money and organizational mojo out of Davos is behind what amounts to a homicidal racketeering scheme masquerading as disease prevention.

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

The Trouble With World Government

The Trouble With World Government

Well, at least that’s one setback for world government.

A court in Australia has told the government’s own eSafety Commission that Elon Musk is correct: One country cannot impose censorship on the world. The company X, formerly known as Twitter, must obey national law but not global law.

Mr. Musk seems to have won a very similar fight in Brazil, where a judge demanded not just a national but global takedown. X refused and won. For now.

This really does raise a serious issue: How big of a threat are these global government institutions?

Dreamy, dopey, and often scary intellectuals have dreamed of global government for centuries. If you are rich enough and smart enough, the idea seems to be the perennial temptation. The list of advocates includes people who otherwise have made notable contributions: Albert Einstein, Isaac Asimov, Walter Cronkite, Buckminster Fuller, and many others.

Often the dream comes alive following huge upheavals such as war and depression. Or a pandemic period such as the one we’ve just gone through. The use of “disinformation” as a cross-border test case of global government power is designed to deploy a new strategy of governance in general, one that disregards national control in favor of global control.

That has always been the dream. In history, for example, following the Great War, we saw the creation of the League of Nations, which was a forerunner to the United Nations, at the urging of President Woodrow Wilson. Both were seen by the intellectual class as necessary building blocks for what they really wanted, which was a binding world state.

This is not a conspiracy theory. It’s what they said and what they wanted.

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

The sad farce of German “democracy”

The sad farce of German “democracy”

To live in Germany in 2024 is to be lectured constantly about democracy. An endless parade of doubtful personalities – pundits, experts and a lot of very shrill women – appear on the television every night to tell you which parties are democratic, which people are democratic and therefore who enjoys democratic legitimacy. As we have seen, however, the whole concept of democracy is very confusing. Those people and organisations who want to mute free expression and ban political parties are all held to be extremely democratic, while those parties that demand more direct democracy and talk constantly about respecting the popular will are the direct modern equivalent of illiberal antidemocratic fascists.

To make all of this even harder, we are told that the upcoming September elections in Thüringen, Brandenburg and Saxony present a grave threat to democracy. To counteract this threat we have things like the Thüringen Project, where our greatest legal minds are at this very moment brainstorming ways to defend Thuringian democracy from the political preferences of actual voters. Crucially, the very existence of the Thüringen Project means that democracy must still reign supreme in Thüringen. Otherwise, there would be nothing for the democratic police of the Thüringen Project to defend. We therefore need only study Thuringian politics in their present state to gain a better idea of what this mysterious, shape-shifting, elusive phenomenon we call German democracy might be.

We will start at the top. The current Minister President (i.e., governor) of Thüringen is a highly democratic man named Bodo Ramelow:

Ramelow is a member of Die Linke, or the Left Party, which is the direct successor of the Socialist Unity Party (or SED) that used to govern the DDR. That might seem baffling, as the SED and the DDR were anything but democratic…

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

Why The Establishment Fears a Trump-led Fed

Why The Establishment Fears a Trump-led Fed

While in office, Trump blamed the Fed for tightening monetary policy. Now members of Trump’s team allegedly plan to give a re-elected Trump more power over the Fed, igniting panic from mainstream economists about a politicized Fed. Our guest commentator explains why the real risk, from the establishment’s perspective, is not that Trump will turn the Fed into a political organization but that he will expose that it already is one.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

Discourse about the Federal Reserve is frequently full of myths, dishonest framing, and outright lies. Listen to a press conference by Chairman Jerome Powell or read an article from a major outlet’s lead Fed correspondent and you’re bound to hear at least a few. For instance, it’s common for the financial press to characterize the Fed’s current conundrum as “walking a tightrope.”

It’s said that the Fed is working to guide the economy along without tipping it over into either high inflation on one side or a recession on the other. The last couple years, we’re told, saw the economy wobble too far toward the inflation side, with the Fed now attempting to pull the economy back to the thin line of stability without tipping over too far and plunging into a recession.

But anybody who actually understands what causes recessions can tell that this framing is, at best, incredibly misleading. The Fed doesn’t prevent recessions, it directly causes them. These days the tightrope analogy contributes to the myth that, while difficult, a recession is possible to avoid. It isn’t. All the Fed can do is delay and amplify the painful correction that earlier monetary policy made inevitable.

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

Welcome to the Warfare State

Welcome to the Warfare State


War is one of the few things that only the State can do. Indeed, as Randolph Bourne said, “War is the health of the State.” Let’s briefly discuss the nature of the State to see why World War 3 is on the way.

The State is like any other living entity: its prime directive is to survive and grow. Bear in mind that the State—the government—is not at all the same thing as the country or society, even though it claims to be. It’s not “We the People”; it’s a distinct entity with its own discrete interests. And that’s actually too mild an assertion. While individuals and companies prosper by providing goods and services to others through voluntary exchange, the State specializes in coercion.

There’s nothing voluntary about the State. Its main products have always been pogroms, persecutions, confiscations, taxation, inflation, censorship, harassment, repression—and war. The State is not your friend.

Mass murder and wholesale destruction are bad enough in themselves. But in wartime, the State enables them with new taxes, new debt, draconian controls, and new bureaucracies. These things linger long after the war is over.

Worse yet, the State does these things with the sanction of the victim; the typical citizen has been taught that almost anything is justified by “national security.” Anyone who would normally protest these depredations in peacetime soon learns to dummy-up when there’s a war for fear of being lynched for sympathizing with the invariably demonic enemy.

After the war—assuming a victory, of course—the State’s debt, taxes, regulations and general size never return to pre-war levels. They ratchet up to ever higher plateaus, requiring the State to do more of the same to justify its existence. Government programs, of whatever description, are almost never pulled out by their roots. At most, they’re trimmed, which has the same effect as pruning a plant, i.e., they’re encouraged to grow back bigger and stronger.

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

Money Is a Monopoly Government Will Never Surrender

Money Is a Monopoly Government Will Never Surrender

A major intellectual revelation from my youth came from reading Murray Rothbard’s “What Has Government Done to Our Money?” (1963). He includes a passing opinion that private markets are perfectly capable of producing money with no help from government. Under a sweeping monetary reform, private mints could compete in offering this good with full associated services. There is no need for any government intervention here.

It was the kind of claim that, at some point in one’s life, causes the jaw to hit the floor. Investigating this assertion more, I came to see that there was a large literature on the topic. Historically, money originated in the market economy itself, a naturally evolving institution that met the needs of trade. Whatever good was generally valued by everyone, and was as capable of being divided into consistent units with a stable value, could be deployed as money, with no need for government to do anything but watch.

But of course history has not panned out that way. Every government has a strong incentive to monopolize the good called money because this is how they can tax their citizens, reward the most compliant industries, cultivate close relationships with bankers, and inflate the currency at will through a variety of methods depending on the technology of the time.

We can of course imagine primitive tribes or pre-colonial native populations using rocks and shells, but is there a modern case where private coinage became normalized? In a major but often overlooked work of historical scholarship, economist George Selgin has written the most extensive treatment of the private coinage industry in the UK at the dawn of the Industrial Revolution.

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

Australian PM Pushes for Crackdown on “Misogynistic” Speech Amid Fears Free Speech Is Fading

Australian Prime Minister Anthony Albanese’s latest push for stringent internet censorship will continue to spark debate over free speech.

Following his more recent online censorship demands, Australian Prime Minister Anthony Albanese is doubling down and has advocated for more stringent controls on what is labeled as “misogynistic” online content. This initiative comes as plans are set for a national cabinet session in 2024 focused on women’s safety, which will address online harassment, among other issues.

This move marks another significant focus by the government, ostensibly on enhancing women’s safety, but raising alarms about potential overreach in curtailing free speech, as its other speech-related policies have done.

“Young adults should not be coached in disrespect or misogyny by online influencers,” Prime Minister Albanese said.

“I understand parents want to protect their kids from harmful material online,” Albanese added. “Social platforms have important social responsibilities and we need them to step up. Taken together, these reforms will give Australian families some of the tools they need to navigate the complexity of the digital world.”

The Prime Minister added that the legislation would carry “serious criminal penalties.”

The proposed measures include better tracking and monitoring the speech of those considered high-risk or repeat offenders and a drive to significantly reduce the presence of misogynistic content on social media platforms.

Communications Minister Michelle Rowland has expressed concern about the widespread dissemination of such content, particularly its impact on young users of social media. “The reality is that digital platforms are influencing our culture and social lives. They have a responsibility to do more to meet community standards,” Rowland said.

However, critics argue that the measures could infringe on digital rights and free expression, especially given the opaque nature of the algorithms that determine content dissemination.

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

Irish Villagers Attacked and Pepper Sprayed by Police. Conflict Over Hundreds of ‘Unvetted Migrant’ Centres Being Planted Throughout Ireland and the UK

The Irish government is now at war with its own people as clashes grow between police and Irish citizens who are protesting against over thousands of unchecked/unvetted migrants literally being ‘forced’ into their small communities. Government statistics show that 87% of the migrants are intentionally destroying their passports upon entry to avail of ‘asylum seeker’ status, therefore nobody know who these people are and whether, or not, they have a criminal record. Furthermore, most of the migrants seeking ‘asylum status’ are from countries that have no war. The migrants are eligible for free accommodation, free social welfare, free medical care, food, clothes, and various other perks. Whilst at the same time that the Irish government is facilitating mass immigration there are 14,000 Irish homeless people on the streets, and the Irish face a very serious accommodation crisis as the cost of renting has sky-rocketed. Make no mistake about it this could turn very nasty. 

The following shocking video of Irish villagers being attacked and pepper-sprayed by government police is an example of what is happening throughout Ireland (and the UK) as the Irish government, which for years has been little more than a puppet of the EU, turns, yet again, on the Irish people. Irish people, renowned for their friendly nature of ‘100,000 welcomes’ have in general been very welcoming to migrants. However, now after years of blatant ‘unvetted’ migration, increased crime, and a serious accommodation crisis for Irish people, it appears many Irish have simply had enough.

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

Wars, Apologetics, and Political Arguments

Wars, Apologetics, and Political Arguments

When political arguments ask you to commit to extreme positions, perhaps they are religious rather than ethical arguments.

Possibly the two most pressing world events at the moment are the wars in Ukraine and Israel. In each case, the argumentation for each side in the Western world has followed a similar and now-familiar pattern: My side is good, the other side is bad, and your neutrality on the subject is evil. In fact, anything short of giving material support for my side is an act of sedition.

But this type of argument is more suited to matters of faith than to matters of opinion or rationality. They are asking you to make real political and material sacrifices for their cause similar to the way a Christian asks you to sacrifice parts of yourself to live in faith that God is your creator. I am not necessarily making the argument that progressivism or neoconservatism are actually religions in their own right. While I understand that sentiment, those ideologies are still missing important pieces of what makes a religion a religion. Rather, it demonstrates how those ideologies use the concept of faith to compel populations to choose one side or the other, and commit their resources, in conflicts having nothing to do with them.

War arguments

For Ukraine-Russia, the American establishment opinion has seemed to be that Ukraine came into existence in 2022, nothing happened, and then Russia invaded it as the first step toward inevitable world conquest. Although “Russia is definitely losing,” if we fail to send over a single one of these aid dollars, Ukraine will promptly fall and Russia will easily overrun the rest of Europe in a matter of weeks. With Israel-Gaza it is that Israel has acted as a loving parent to the Palestinians, though sometimes utilizing tough love for their own good…

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

The Great Experiment

The Great Experiment

Is stratospheric aerosol injection inevitable now?

The retired aircraft carrier Hornet juts into the frame against a bright blue sky.
A government test of solar radiation management (SRM) was conducted from the deck of the retired aircraft carrier, Hornet, the first of its kind, on April 2.

“Desperate times breed desperate measures.”

~ William Shakespeare

Democracy has been referred to as the Great Experiment. As it teeters from the threat of Trump and “righteous” Christian Fascism, we must not forget that climate change is also an experiment that can topple democracy. Frighteningly, the two could easily work hand in hand as the realities of global warming create ever-increasing disasters from droughts and floods, force migration, create shortages, and drive systemic inflation. These conditions unchecked can lead to social unrest, military law, resource wars and dictatorship.

The Paris Agreement under heat

In 2015, the United Nations Climate Change Conference, COP 21 was held in Paris. Because of indisputable evidence of global warming from ice core sampling, ocean probes and satellite data, 196 nations signed a legally binding international treaty on climate change. That treaty went into effect in 2016 with the agreement to limit global warming to 1.5°C. To achieve that goal, greenhouse gas emissions must decline 43 percent by 2030.

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

Banking on Surveillance: Republicans Investigate Major Banks’ Warrantless Data Sharing with Federal Agencies

Congressional inquiry into banks’ role in warrantless data surveillance following January 6 raises alarm over potential civil liberties violations and improper government collaboration.

Congressional Republicans are further investigating claims that at least 13 major US banks collaborated with federal agencies to monitor private transactions for signs of “extremism” following the January 6 Capitol events. The House Select Subcommittee on the Weaponization of the Federal Government, led by Republican Jim Jordan from Ohio, is delving further into the alleged cooperation between these financial institutions and federal agencies without proper warrants.

These banks, including Bank of America, Chase, US Bank, Wells Fargo, Citi Bank, and more, are among those scrutinized for their roles in the reported surveillance. We previously reported about how Bank of America was found to be handing over data of everyone in the area during the events of January 6, whether they were suspect or not – and whether they had a warrant or not. But now, investigations suggest that the transfer of data was more systematic, potentially involving multiple financial institutions and the Biden administration itself.

Read an example of the letter sent to a bank here.

Already-uncovered information suggests that the Biden administration worked with banks to identify potential “extremism” by monitoring certain purchases such as religious texts like the Bible, or by flagging searches that included terms like “MAGA” and “TRUMP.”

According to the House Judiciary Committee, the probe has now expanded to include additional financial firms: Charles Schwab, HSBC, MUFG, PayPal, Santander, Standard Chartered, and Western Union. Letters sent to these institutions by the committee request documentation and communications with FinCEN (Financial Crimes Enforcement Network) and the FBI to further investigate potential warrantless surveillance.

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

Financial turmoil in Canada – and what it means for the rest of the world

Financial turmoil in Canada – and what it means for the rest of the world

Max Bernier, leader of the People’s Party of Canada, says the new federal budget will send the country deeper into debt than it already is.

Our latest episode of the Collapse Life podcast features a returning guest — Maxime Bernier, leader of the People’s Party of Canada. He says the new federal budget is anti-growth and will send the country deeper into debt than it already is. He tells host Zahra Sethna there is no way Prime Minister Justin Trudeau can win the October 2025 election given the inflationary economic crisis people are experiencing. But he argues that Pierre Poilievre, leader of the Conservative Party, is ‘meet the new boss, same as the old boss.’ Find out what Bernier says this anti-growth budget means for Canada, and how policies in Canada might start to affect people in other countries, too.

Watch on YouTube:

Watch on Rumble: https://rumble.com/v4rnttc-canadas-anti-growth-budget-is-an-indicator-of-financial-crisis.html

Listen on Spotify

Big Tech Sponsors Event With Canadian Pro-Censorship Justice Minister Advocating Online Censorship

Canada’s justice minister, Arif Virani, proposes speech-restrictive legislation at an event backed by corporate sponsorship from Meta and AWS.

Canada’s government, represented by “captain of censorship” Arif Virani – the country’s justice minister and attorney general, will use an upcoming event as the opportunity to once again push for more speech-restrictive legislation, allegedly solely in order to deal with online “harm and hate speech.”

No surprise there, but the list of the sponsors of the event – dubbed, “Where Online Harms Have Real World Consequences: The Case for Legislating Against Harm and Hate” – is interesting. It includes Meta, and Amazon Web Services (AWS).

There could be different interpretations of this, one being that the giants want online speech regulated “to entrench their positions and keep out dissenting views” – as Rumble CEO Chris Pavlovski put it.

Or it could be that Canada’s relentless policies damaging these companies’ business interests in the process of restricting speech are motivating the likes of Meta and Amazon to try to stay on the authorities’ good side, including through sponsorships.

And, two wrong things get to be true at the same time, so we may be witnessing some combination thereof.

In any case, the Empire Club, where the gathering is to be held, announced it by saying participants will be able to learn about the government’s plans to “tame some of the worst excesses of life online, and protect the rights of all Canadians who wish to express themselves without fear.”

All Canadians, that is, except those Virani would like to be put under house arrest or cut off their internet access as a kind of dystopian “preventive measure” – namely, when there is “fear” they might commit whatever’s designated as hate propaganda or crime, at some point in the future.

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

Olduvai IV: Courage
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Olduvai II: Exodus
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