MCViewPoint

Opinion from a Libertarian ViewPoint

Archive for the ‘Uncategorized’ Category

FBI Adds Itself To FBI Watch List

Posted by M. C. on August 6, 2022

https://babylonbee.com/news/fbi-adds-itself-to-fbi-watch-list

WASHINGTON, D.C. — In an unprecedented move to protect the safety and security of millions of Americans, the FBI has added itself to the FBI watchlist.

“When we reflected on the vast number of pedophiles, insurrectionists, frauds, and killers in our organization, we thought: ‘Holy cow! Someone needs to keep an eye on these weirdos!'” said FBI Director Christopher Wray to reporters. “That’s why today we have decided to place the FBI on the FBI watchlist so the FBI can keep a close eye on the FBI before the FBI does something terrible.”

Congress is demanding oversight of the FBI’s monitoring of the FBI, as the FBI has been known in the past to let the FBI get away with horrific crimes. The FBI in turn is monitoring the Congressional oversight committee in charge of overseeing the FBI’s oversight of the FBI. “Americans shouldn’t worry, we have this all under control,” said Wray.

Critics of the move expressed concern this may hamper the FBI’s ability to organize governor kidnapping schemes, insurrections, and mass shootings.

“Without the FBI at our disposal, we may have to turn to traditional partners such as the mafia to fight our political enemies,” said one anonymous Washington bureaucrat. “What’s the world coming to?”

At publishing time, the FBI announced they now have the FBI in custody. Unfortunately, they released the FBI from custody a few minutes later.

Be seeing you

Posted in Uncategorized | Tagged: , | Leave a Comment »

Watch “Why You Should Buy Art” on YouTube

Posted by M. C. on August 6, 2022

https://youtu.be/hvvftAATAVM

Be seeing you

Posted in Uncategorized | Tagged: | Leave a Comment »

Politicians Abdicated Their Responsibilities to Public Health Experts

Posted by M. C. on August 6, 2022

Roman Baber is a former Member of Ontario’s Provincial Parliament. He is running for Leader of the Conservative Party of Canada because he will not “sit back while Canadians are losing faith in Canada’s democracy and Canadian opportunity.” He was removed by Doug Ford from the Ontario government caucus after calling out the collateral harm of lockdowns in January 2021. Since then, Roman has been a staunch advocate in favour of a balanced covid response and in particular against lockdowns due to their toll on the health and mental health of Canadians. Roman brought legislation to cut MPP pay to CERB levels while Emergency Orders are in place, commenced and is in litigation against the Attorney General of Ontario over Canadians’ right to protest and worship outdoors and recently brought a Bill to outlaw workplace mandates. Roman is passionate about and is well familiar with justice, transit and autism policy. Roman was born and lived in the former Soviet Union until he was almost 9. He then lived in Israel until he immigrated to Canada with his family at age 15 and settled in the heart of the north Toronto district he now represents. Roman obtained a BA from York University and graduated from law school at the University of Western Ontario. During his last year of law school, Roman was a supervisor with the school’s legal aid funded clinic. Roman was called to the Ontario Bar in 2006 and practiced civil and commercial litigation until his election in 2018. He served as Chair of the Ontario Provincial Parliament’s Standing Committee on Justice Policy from September 2019 until January 2021. Roman is an occasional lecturer at an after-school program, engaging high school students on constitutional and criminal law topics. He loves Canadian kindness, the Toronto Raptors and his special someone, Nancy Marchese.

Be seeing you

Posted in Uncategorized | Tagged: , , | 1 Comment »

The MIC Cult

Posted by M. C. on August 6, 2022

by Laurie Calhoun

the military-industrial-congressional-media-academic-pharmaceutical-logistics-banking complex, the octopoid tentacles of which support one another by claiming that all of them are contributing to the greater good through defending values such as freedom and democracy

Nothing is more important at this unique moment in history than that we reject all efforts by pro-military propagandists to inculcate in the populace the central tenets of this cult: that offensive military action is a form of defense, and bombs have the power to do anything more than terrorize and destroy.

https://libertarianinstitute.org/articles/the-mic-cult/

mic cult

One of the most fascinating features of religious cults is that their tenets are impervious to empirical refutation, or even disconfirmation. Every apparent exception to the reigning narrative, every refractory datum, has a ready explanation compatible with the story already believed by the cult members. The teachings are in effect metaphysical, which is why the group is able to continue to recite what they regard as “the gospel” no matter what transpires.

Conceptually trapped within a fantasy world of their leader’s creation, the acolytes have been indoctrinated to believe that their leader is special and has privileged access to the truth. So devoted are his loyal followers that when the cult leader claims that he will effect a miracle, but this does not come to pass, they piously respond that they have not been faithful enough. The failure of the leader to do what he claimed he would do is taken to demonstrate not that he is a shyster or a fraud, but that he has not been adequately supported by the members of the group.

Accordingly, the cult members step up their proselytizing efforts and go out on street corners to sell flowers to bring in even more funds for their exalted leader. To outsiders this may seem utterly absurd, but to the members of the cult, it makes perfect sense. Strongly reinforcing their beliefs is the fact that everyone around them agrees. When an outsider approaches with the news that the group members have been conned and are laboring in a state of total delusion, they balk and spurn what they take to be the benighted critic. If he dares to persist in challenging their worldview, then they may label him either evil or insane.

These very same dynamics, witnessed in religious cult after cult since time immemorial, are observable throughout the military industrial complex or, to be more precise: the military-industrial-congressional-media-academic-pharmaceutical-logistics-banking complex, the octopoid tentacles of which support one another by claiming that all of them are contributing to the greater good through defending values such as freedom and democracy. It matters not to subscribers to the militarism creed that war itself is the most oppressive and tyrannical of means, imposing as it does the will of the killers upon anyone unlucky enough to live where they have decided to drop their bombs.

Nor is any importance attached to the actual effects of the bombing. No matter how many people are killed and maimed, military supporters continue religiously to bleat, “Freedom is not free!” convinced as they are that anything labeled “defense” is everywhere and always good. They rally behind calls for military intervention wherever and whenever the warriors please, and when a mission ceases in one place, they redirect their energies to the next so-called just war.

The church in this case may have been replaced by the military state, but the cult dynamics used to defend, maintain and promote the expansion of the institution are one and the same.

See the rest here

Be seeing you

Posted in Uncategorized | Leave a Comment »

How the Government Exacerbates Cancer

Posted by M. C. on August 6, 2022

by Walter E. Block

We must give the Devil his due. But the state insists upon its own agenda; it “cancels” researchers who adopt alternative plans; it threatens the medical licenses of physicians who pursue and recommend non-centrally planned medications, as in the case of COVID-19. It engages in affirmative action in both the private and so-called public sector which results in people less qualified occupying their laboratories in the first place.

https://libertarianinstitute.org/articles/how-the-government-exacerbates-cancer/

This essay is dedicated to the memory of Witold Kwaśnicki, a Polish libertarian who recently passed away at the tender age of seventy. He died from pancreatic cancer. He expired not in a matter of years after diagnosis, nor even months. Rather, he succumbed in a matter of mere weeks. What a horrible disease that is.

I am now 80 years old. I full well realize that no one gets out of this alive; that my life expectancy is not what it was ten, twenty or thirty years ago. How do I come to grips with the prospects of my not too distant demise? How do keep my chin up?

I do so in two ways. First, I resolve to make each and every day, hour, minute (even second if I can) count. I try to enjoy myself all the livelong day (to a great degree through writing and speaking out in behalf of liberty). Yes, of course, everyone has chores. No life is a full bowl of cherries. But I do my best to appreciate whatever time I have left as much as possible. I have been doing this for decades.

The second way I try to achieve happiness in the face of inevitable death is try to understand its cause, such as from cancer. Why, then, do we now suffer from this dread disease? Surely, in 500 years this ailment will go the way of smallpox, polio, tetanus, hepatitis B, hepatitis A, rubella, hib, measles, whooping cough (pertussis), pneumococcal disease, rotavirus, mumps, chickenpox, diphtheria and others —which we have either eradicated entirely, or pretty much wrestled to the ground, so that they no longer constitute death sentences. Why are we still beset by cancer, and other such killers?

The only answer that satisfies me is that this is the fault of the government.

How so? First, they take some 50% of the goods and services we all produce. This impoverishes us. We are now half as wealthy as we would be without this malevolent institution seizing our hard-earned property. Murray Rothbard, Mr. Libertarian, maintains that a more accurate GDP calculation would subtract the government’s “contribution,” not add it to what emanates from the private sector. But matters are even worse.1

For what do the statists do with “their” share of our earnings? With their regulations, prohibitions, and compulsions they further reduce our economic power. As a rough estimate, we are now down to 33% of where we would otherwise be, without this pernicious institutional arrangement. Let us consider but one regulation that directly impinges on the search for medical cures. When and if a breakthrough occurs, government will limit profits; it will quell “profiteering” and price “gouging.” It will insist upon lowered drug prices. It is due to this threat that firms in this industry will have less of an incentive to do the necessary research than would otherwise be the case.

What does this have to do with death by cancer, heart attacks, kidney disease and other such debilitations? According to that old adage, “Wealthier is healthier,” the richer we are, other things equal, the more able we will be to rid ourselves of these medical scourges.

We must of course acknowledge that government does spend money not only on direct attempts to find cures for these horrid diseases, but also indirectly, through pure research. We must give the Devil his due. But the state insists upon its own agenda; it “cancels” researchers who adopt alternative plans; it threatens the medical licenses of physicians who pursue and recommend non-centrally planned medications, as in the case of COVID-19. It engages in affirmative action in both the private and so-called public sector which results in people less qualified occupying their laboratories in the first place.

We cannot claim that if the populace were three times as well-to-do as it is at present—in the absence of intrusive government—that all of this would go into basic or medical research. But more of it likely would. And we would be closer to quelling these diseases that plague mankind.

If government would get off the neck of the economy, we cannot be sure that under free enterprise cancer would be overcome. Perhaps, instead, it might be heart disease, strokes, lung disease, diabetes, Alzheimer’s, tuberculosis, cirrhosis.

A tried and true aphorism is that “To know, is to forgive.” I turn this around just a little bit. What keeps me going is, instead, “To know, is to obviate the pain that comes when we contemplate needless, premature deaths from tragedies such as pancreatic cancer.” Understanding the real cause of such abominations—government—makes it seem less of a threat, less terrible.

About Walter E. Block

Dr. Walter Block is the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at Loyola University and a senior fellow at the Mises Institute.

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

Wife Proposes ‘Household Debt Reduction Act’ Where She Spends Thousands Of Dollars At Target

Posted by M. C. on August 5, 2022

https://babylonbee.com/news/wife-proposes-household-debt-reduction-act-where-she-spends-thousands-of-dollars-at-target

KENNEWICK, WA — This week, Courtney Lindeen presented her husband Aaron with a bold and innovative plan to solve the family’s consumer debt burden. Her proposal included $5,000 of spending per month at Target, which she explained would help lower the family’s debt.

“If approved, the ‘Household Debt Reduction Act’ will set us on a trajectory to generate over $500,000 in new top-line revenue – the initial investment will be offset over the long term!” Sources confirm that Courtney unveiled the full plan in a series of slides, demonstrating her mantra that “You have to spend money to make money!”

After closing out her presentation and opening up for questions, Courtney fielded objections from her husband, including his pressing on how spending money would save money. She explained that the name of the plan was “Household Debt Reduction Act,” helping ensure that even increased expenditure would reduce debt.

“I’m just not following – if we got into debt from overspending at Target, how could more spending at Target cut the debt?” Aaron Lindeen later confirmed that he regretted asking, as he quickly became educated about the dire consequences if he did not execute the proposed plan, including the deaths of thousands, the end of the earth, and a 50% reduction in trail mix and new furniture in the house.

At publishing time, Aaron Lindeen had demonstrated leadership by agreeing to his wife’s plan, though not before requesting amendments for golf gear earmarks. The earmarks were not included in the final version of the bill.

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

The Pentagon Is Behind Pelosi’s Trip

Posted by M. C. on August 5, 2022

by Jacob G. Hornberger

The Pentagon, the CIA, and the NSA — i.e., the national-security branch of the federal government — own and control Congress — lock, stock, and barrel, just as they own and control the president and the Supreme Court. 

Joe Biden wanted to make it clear that the Pentagon was opposed to House Speaker Nancy Pelosi’s trip to Taiwan, a trip that was obviously intended to gin up a crisis with Red China. 

The notion that the Pentagon opposed Pelosi’s trip is sheer nonsense. In my opinion, there is no possibility whatsoever that any member of Congress, and especially the Speaker of the House, would ever buck the Pentagon on anything. The Pentagon, the CIA, and the NSA — i.e., the national-security branch of the federal government — own and control Congress — lock, stock, and barrel, just as they own and control the president and the Supreme Court. 

This is not a new phenomenon. Once the federal government was converted to a national-security state, everyone in Washington knew that there was a new sheriff in town, one that wielded omnipotent, totalitarian-like powers, including the power of assassination. Given the overwhelming power of the new national-security branch of the government, the other three branches went into passive-and-support mode, especially after the Kennedy assassination in 1963. 

But this phenomenon clearly existed prior to that assassination. That was reflected by the term that President Eisenhower initially planned to use — “the military-industrial-congressional complex” — in the warning he issued to the American people in his Farewell Address in 1961.

Longtime readers of my blog know that for the past few years, I have been recommending a book entitled National Security and Double Government by Michael J. Glennon, who is professor of international law at The Fletcher School of Law and Diplomacy at Tufts University and who served as counsel to the Senate Foreign Relations Committee. Everyone in America should read Glennon’s book. It is a true eye-opener as to how the federal government is run, especially in foreign affairs.

Glennon’s thesis is a simple one: The national-security establishment is in charge of the federal government. But it permits the other three branches to have the appearance that they are actually in control. The Pentagon, the CIA, and the NSA don’t care about appearances. It’s fine by them that Americans maintain the belief that the president, Congress, and the Supreme Court are in charge. What matters to the Pentagon, the CIA, and the NSA is that actual power of being in charge. 

If Glennon is right — and I have no doubt that he is — then there is a good possibility that it was the Pentagon that put Pelosi up to making her trip or at least quietly supported it, even while creating the false appearance that Pelosi was acting against the wishes of the U.S. military establishment.

Why would the Pentagon do such a thing? For the same reason the national-security establishment has been ginning up crises around the world practically since its inception. The more crises, the better, because then Americans get afraid and get convinced that a national-security state is necessary to keep them safe. More crises mean more power, influence, and tax-funded largess for the national-security establishment. 

That’s what their old Cold War racket was all about — a perpetual crisis ostensibly based on a supposed international conspiracy supposedly based in Moscow in which the Reds were coming to get us. The more they made Americans afraid of the supposed communist threat to take over America, the more Americans supported them with power and warfare largess.

As I point out in my new book An Encounter with Evil: The Abraham Zapruder Story, President Kennedy, having achieved a gigantic breakthrough after the Cuban Missile Crisis, decided to put an end to their Cold War racket and to move our nation in a totally different direction. He is the only president to have done so. No president since Kennedy has dared to take on the national-security establishment. Kennedy’s different vision for America’s future was why they needed to eliminate him and elevate Vice President Johnson, who had the same Cold War mindset as the Pentagon, the CIA, and the NSA.

When they lost their perpetual Cold War racket, they turned to deadly and destructive interventionism in the Middle East, knowing that that would produce a new crisis, one that would be based on terrorist blowback. The initial blowback — e.g., the 1993 attack on the World Trade Center and the attack on the USS Cole — was not sufficient to produce a gigantic crisis. But the 9/11 attacks did prove to be sufficient. At that point, the national-security establishment had a new, big, perpetual crisis, one based on “terrorism.” They were now off to the races again. That’s when they invaded Afghanistan and Iraq, killing hundreds of thousands of people and wreaking massive destruction in those two countries — and producing what seemed to be a perpetual crisis based on a never-ending supply of new terrorists. 

But they knew that their war on terrorism might ultimately begin to fizzle. The rather ho-hum reaction among many Americans to their assassination of 71-year-old al Qaeda leader Ayman al-Zawahiri this week reflects the fizzling out of their war on terrorism. They need another big terrorist attack on American soil to get it ramped up again.

But it is now clear that they never gave up hope of restoring Russia and China as renewed official enemies. That’s what the Pentagon’s use of NATO to absorb former members of the Warsaw Pact was all about. The Pentagon knew that if NATO ultimately threatened to absorb Ukraine, it could get Russia to react, which Russia ultimately did with its invasion of Ukraine.  

But clearly that’s not enough for these people. They need to ramp up another Cold War crisis with Red China, which would enable them to reinvigorate their old Cold War anti-communist crusade. That would enable them to trot out all of their old anti-communist mantras. That’s what President Trump’s trade war against China was all about. That’s also what Pelosi’s trip to Taiwan is all about. U.S. officials are dead-set on ginning up another crisis in that part of the world against another of their old Cold War official enemies. Don’t be surprised about additional crises involving North Korea, Cuba, and maybe even Vietnam.

The biggest mistake the American people have ever made — even bigger than having adopted the socialism of a welfare state and the federal income tax to fund it — was to permit the conversion of the federal government to a national-security state. So long as that conversion is permitted to stand, Americans will continue to live lives that are besieged by crises. To get our nation back on the right road — the road toward liberty, peace, prosperity, and harmony with the people of the world — it is necessary to restore our founding government system of a limited-government republic, which necessarily means the dismantling and termination of the national-security establishment. 

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

Watch “Why Brittney Griner’s Arrest Should Cause Us to Examine the Drug War Here” on YouTube

Posted by M. C. on August 5, 2022

Why should basketball star Brittney Griner’s arrest in Russia cause us to examine the drug war here at home? Join FFF president Jacob G. Hornberger and Citadel professor Richard M. Ebeling, as they discuss this incident.

Discussion starts @ 06:00

https://youtu.be/kB1OcyN3v0M

Be seeing you

Posted in Uncategorized | Tagged: , | Leave a Comment »

“The Science” changed twice in a week

Posted by M. C. on August 4, 2022

https://mailchi.mp/tomwoods/expertclass?e=fa1aba8cd8

You remember when the health establishment warned us not to eat eggs, which in fact are some of the best things you can eat.

You remember when they urged us to consume 11 servings of grains per day. (It’s now six to eight, but that awful food pyramid is still largely unchanged.)

Now you’ll say: Woods, nobody’s perfect. Science is an ever-evolving search for the truth. Give them time, and they’ll get it right.

If that’s what we were dealing with, that would be one thing. As more research is done and more information comes to light, it’s to be expected that we’ll adjust our views. I get that.

But apart from how unreasonably long it seems to take for a faulty health conclusion to be reversed, and how dogmatically the health establishment insists on things it couldn’t possibly have known with the requisite degree of certainty (since, after all, they later turn out to be false), something more seems to be at work.

As with other parts of academia, health research gets skewed by funding sources, and by a pro-consensus bias that makes it difficult to impossible for dissident paradigms to get published, funded, or even acknowledged at all.

Work in support of the existing consensus, meanwhile, is not scrutinized as thoroughly as it should be.

Recent case in point: the past 16 years of Alzheimer’s research may have been directed down a dead end, thanks to the uncritical acceptance of crucial papers by Sylvain Lesné.

Neuroscientist Matthew Schrag recently pointed out multiple examples of faulty data in Lesné’s papers; they are cases of “shockingly blatant” image tampering, according to Donna Wilcock, an Alzheimer’s expert at the University of Kentucky. 

Lesné’s research supported the dominant so-called amyloid hypothesis of Alzheimer’s, and Schrag, speaking to Science magazine, amplified one of the points I just made here: supporters of the reigning hypothesis were much too uncritical of research that supported their view, and were not the noble exemplars of pure “science,” unaffected by anything other than strict reliance on the data, that we read about in fairy tales.

Then, too, we’re now learning that the “chemical imbalance” theory of depression, upon which many people based their therapeutic regimens, may turn out to have been b.s. all along.

Covid research is a fiasco unto itself. Stanford’s Jay Bhattacharya says that having Anthony Fauci as “de facto head of covid policy and also in charge of billions of dollars for government grants to scientists is also a conflict of interest.”

My point is this:

“Public health” officials give lousy health advice.

Lots of economists nowadays give lousy economic advice.

Most historians teach their political agenda rather than history.

One “expert” class after another has to be viewed with skepticism, to put it mildly.

How are we supposed to navigate a world in which ideologues are trying to colonize our children’s minds, official “health” recommendations are sometimes downright moronic (remember Michelle Obama’s school lunches, drawn out of the nutritional consensus of 1977?), economists gaslight you about inflation and the Federal Reserve, and the list just goes on and on?

Not to mention, these people aren’t exactly sitting there quietly publishing studies.
 
These are the people who came for your job, who destroyed the value of your money, who are coming for your cheap energy, who are making food harder to produce – these people, in other words, don’t just write articles. They take action.
 
We can’t just write articles, either.
 
Time for our side to take action.

Our doors close tomorrow:

http://www.TomSchoolOfLife.com
Tom Woods

Posted in Uncategorized | Tagged: , , | Leave a Comment »

Europe Has Lost The Energy War

Posted by M. C. on August 2, 2022

Is Russia weaponising the flow of gas in its tug of war with Europe? Of course it is. But Europeans started this game.

Tyler Durden's Photo

BY TYLER DURDEN

Authored by Thomas Fazi via UnHerd.com,

https://www.zerohedge.com/geopolitical/europe-has-lost-energy-war

After a decade of financial austerity, is Europe now on the brink of a new age of energy austerity? The city of Hanover has recently introduced strict energy-saving rules that include cutting off the hot water in public buildings, swimming pools, sports halls and gyms, banning mobile air conditioners, fan heaters or radiators, switching off public fountains, and stopping illuminating major buildings such as the town hall at night.

Meanwhile, several countries across Europe are considering dimming or switching off public lights, and even adopting “energy curfews”with early closures for businesses and public offices. And more drastic measures are under consideration — including gas rationing for energy-intensive industries such as steel and agriculture.

These measures are part of an EU-wide Gas Demand Reduction Plan, ominously titled Save Gas for a Safe Winter, to reduce gas use in Europe by 15% until next spring. Among the proposals is a provision that officials in Brussels impose fines for non-compliance if they decide the crisis is escalating dangerously.

All of this comes amid growing fears that dwindling Russian gas supplies may plunge Europe into an energy crisis this winter. Overall, Russian gas exports to the EU are at about a third of last year’s levels, falling steadily since the invasion of Ukraine. While several European countries have been reducing their Russian gas imports, Russia itself has been reducing gas flows to Europe through Nord Stream 1, the continent’s biggest pipeline, citing mainly technical issues. Just the other day, citing equipment repair, Russia announced yet another reduction in the amount of natural gas flowing through Nord Stream 1, which is now operating at only 20% capacity.

This has caused natural gas spot prices to surge to levels not seen since early March; they are now almost 10 times higher than they were two years ago. In most countries, electricity prices have risen accordingly. Soaring energy prices are already fuelling record inflation — currently close to 9% and rising in the EU — squeezing people’s spending power, plunging thousands into poverty, and placing a huge burden on industry.

This is especially true for Germany, which is almost entirely dependent on Russian gas imports. Indeed, the country’s industrial production has been contracting for over three months. Astonishingly, 16% of industrial German companies have reduced production or partially stopped their activities due to rising energy prices. This helps explain why last month Germany became the first country to escalate its warning over gas supplies to the “alert level”.

The combined effect of rising prices, lagging demand (both internally and abroad, as China goes back into lockdown) and falling production and investment is already causing economic growth on the continent to grind to a halt. While institutions such as the European Commission and the IMF, despite significant downward revisions, still predict real GDP in the EU to be around 2.5% this year, several analysts consider even these far-from-rosy predictions to be overly optimistic. Carsten Brzeski, Chief Eurozone Economist at ING bank, for example, foresees a recession at the end of the year as high prices sap purchasing power.

To make matters worse, the ECB’s recent decision to raise interest rates will do little or nothing to curb inflation caused by supply-side factors, but will almost certainly further depress economic activity, making it harder for states to mobilise resources needed to cushion the effects of the energy crisis. And as for the ECB’s recently launched Transmission Protection Instrument (TPI), aimed at helping countries in financial distress, it may only be activated for those countries judged to be “fiscally sustainable” (a questionable concept in itself), even though the current polycrisis is inevitably bound to put a strain on the public finances of European countries.

Furthermore, even though the EU has sensibly — for once! — proposed to keep the EU’s fiscal rules suspended for another year, several countries, led by Germany, have announced their intention to embrace austerity once again. “For Germany, it’s clear: we will not make use of the general escape clause,” said the German Finance Minister Christian Lindner, arguing that the priority now had to be fighting inflation. “We will return to the debt brake. We have to stop the addiction to ever more indebtedness.” For this, he added, “we have to get out of our expansionary fiscal policies, and out of the debts, so that the central bank has the space to fight inflation with its means”.

In other words, Germany seems intent on once again plunging the continent even deeper into recession through utterly self-defeating austerity, just as it did in the wake of the financial crisis. Europe is already heading for a stagflationary scenario — a situation where high inflation is associated with low or negative growth. Austerity would simply make a bad situation even worse.

If things are bad now, however, it goes without saying that a further decrease in Russian gas flows, which still account for 40% of the EU’s gas imports — not to mention a full stop — would have utterly catastrophic consequences, especially if that were to happen during the winter, when demand for gas it at its highest. Energy, after all, is literally the lifeblood of the economy. It’s what keeps our houses lit and warm (or cool), and our cars, industries, supermarkets and electronic gadgets running. Without it, civilisation literally comes to a halt.

This is why if Europe’s energy supplies are unable to meet demand, the consequences would be almost unimaginable:

See the rest here

Be seeing you

Posted in Uncategorized | Tagged: , , | 1 Comment »