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Despair, depression, and the inevitable rise of Trump 2.0: Glenn Greenwald tells RT his Biden administration predictions — RT USA News

Posted by M. C. on January 18, 2021

Biden is “somebody who has repeatedly supported militarism and imperialism” and “one of the crucial leading advocates of the invasion of Iraq,” he said. On the domestic front, Biden is “a loyal servant of the credit card and banking industry” and the “architect of the 1994 crime bill,” the latter of which has been blamed for dramatically upping the incarceration rate of black men in the US.

That leftists involved in Black Lives Matter protests rallied around Biden, given his involvement in passing the crime bill (he was one of 61 senators who voted for it) is “ironic,” Greenwald told Hedges, but also serves as an example of how the Democratic Party operates.

https://www.rt.com/usa/512749-greenwald-biden-elections-prediction/

America, Joe Biden says, “is back.” Beyond the sloganeering, journalist Glenn Greenwald reckons that means “militarism, imperialism, and corporatism,” he told RT’s Chris Hedges.

Glenn Greenwald is a lawyer who turned to journalism in 2005 to protest the suppression of Americans’ civil liberties under the Bush-Cheney ‘war on terror’. Greenwald came to international fame by breaking the Edward Snowden NSA whistleblower story in 2013. He later co-founded the Intercept, but quit the outlet in October after saying editors there suppressed his coverage of Democrat presidential candidate Joe Biden.

“I don’t think it’s particularly difficult… to know what to expect from the Biden administration,” the acclaimed American journalist told Chris Hedges, host of RT’s On Contact, on Sunday. Biden, Greenwald continued, has enjoyed a five-decade career in Washington and made his policy priorities well known over these years.

Biden is “somebody who has repeatedly supported militarism and imperialism” and “one of the crucial leading advocates of the invasion of Iraq,” he said. On the domestic front, Biden is “a loyal servant of the credit card and banking industry” and the “architect of the 1994 crime bill,” the latter of which has been blamed for dramatically upping the incarceration rate of black men in the US. 

That leftists involved in Black Lives Matter protests rallied around Biden, given his involvement in passing the crime bill (he was one of 61 senators who voted for it) is “ironic,” Greenwald told Hedges, but also serves as an example of how the Democratic Party operates.

“Democrats are very good at creating a brand that is radically different than the reality, but essentially the Democratic party serves militarism, imperialism, and corporatism,” he said. “That’s who funds them, that’s what they believe in. It’s why you see neocons migrating so comfortably back to the Democratic Party, why you see Bush and Cheney operatives cheering for Joe Biden, why Wall Street celebrated when he picked Kamala Harris.”

Biden’s campaign didn’t only draw support from the left – who Biden then spurned by packing his cabinet with Obama administration alumni while giving progressives like Bernie Sanders the cold shoulder. The former vice president was also supported by Republican hawks like Bill Kristol and Max Boot, as well as the much-maligned ‘Lincoln Project’ Republicans, who fundraised $67 million to shoot attack ads against Trump in the runup to November’s election.

The rallying of the establishment – Democrat and Republican alike – behind Biden could have far-reaching consequences, Greenwald warned.

“It’s not a coincidence that after eight years of Obama and Biden, we got Donald Trump,” he said. “Obviously, if you go back and do exactly the same thing that the ‘Obiden’ administration did for 8 years, which is what Biden’s preparing to do, any rational person has to expect the same outcome.”

The American middle class, Greenwald predicted, will “continue to be destroyed,” while companies “that have no allegiance to the US” will continue to outsource jobs. “Communities will continue to be ravaged with unemployment crises, drug addiction, suicide, depression, all the things that are dominating small American towns.” 

After what Hedges called a “third term of the Obama administration,” Greenwald warned that Biden could set the stage for a “smarter, more stable version” of Trump to take power.

Americans looking for in-depth coverage of the Biden administration will likely be short-changed. Four years of Donald Trump have birthed left-leaning journalists that cheer on the censorship of conservatives and deplatforming of “dangerous” voices, Greenwald believes. 

The left, he said, shows little objection to Biden because they “bought into the overarching narrative that there are only two choices – unite behind the Democratic Party and fight fascism and Hitler, or succumb to fascism.”

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MSM calls for “new definition of free speech” – OffGuardian

Posted by M. C. on January 18, 2021

Ives clearly thinks he’s enlightened and liberal and educated, after all he drops references to Kant AND Mills (that’s right TWO famous philosophers), but he’s really not. He’s just an elitist arguing working class people are too dumb to be allowed to speak, or even hear ideas that might get them all riled-up and distract them from their menial labour.

https://off-guardian.org/2021/01/16/a-new-definition-of-free-speech/

Kit Knightly

Part of the main duty of OffGuardian is to troll through the masses of media output and try and pick up patterns. Sometimes the patterns are subtle, a gentle urging behind the paragraphs. Sometimes they’re more like a sledgehammer to the face.

This has been face-hammer week. In fact, it’s been a face-hammer year.

From “flatten the curve” to “the new normal” to “the great reset”, it’s not been hard to spot the messaging going on since the start of the “pandemic”. And that distinct lack of disguise has carried over into other topics, too.

We pointed out, a few days ago, the sudden over-use of the phrase “domestic terrorism” preparing us for what is, almost certainly, going to be a truly horrendous piece of new legislation once Biden is in office.

Well, the buzz-phrase doing the rounds in the wake of Donald Trump being banned from the internet is “the new definition of free speech”…and variations on that theme.

Firstly, and papers on both sides of the Atlantic want to be very clear about this, Donald Trump being banned simultaneously from every major social network is not in any way inhibiting his free speech.

Indeed none of the tens of thousands of people banned from twitter et al. have had their free speech infringed either. Neither have any of the proprietors – or users – of the Parler app which the tech giants bullied out of existence.

Free Speech is totally intact no matter how many people are banned or deplatformed, the media all agree on that (even the allegedly pro-free speech think tanks).

They also agree that maybe…it shouldn’t be. Maybe “free speech” is too dangerous in our modern era, and needs a “new definition”.

That’s what Ian Dunt writing in Politics.co.uk thinks, anyway, arguing it’s time to have a “grown-up debate” about free speech.

The Financial Times agrees, asking about the “limits of free-speech in the internet era”.

Thomas Edsall, in the New York Times, wonders aloud if Trump’s “lies” have made free speech a “threat to democracy”.

The Conversation, a UK-based journal often at the cutting edge of the truly terrifying ideas, has three different articles about redefining or limiting free speech, all published within 4 days of each other.

There’s Free speech is not guaranteed if it harms others, a drab piece of dishonest apologia which argues Trump wasn’t silenced, because he could make a speech which the media would cover…without also mentioning that the media has, en masse, literally refused to broadcast several of Trump’s speeches in the last couple of months.

The conclusion could have been written by an algorithm analysing The Guardian’s twitter feed:

the suggestion Trump has been censored is simply wrong. It misleads the public into believing all “free speech” claims have equal merit. They do not. We must work to ensure harmful speech is regulated in order to ensure broad participation in the public discourse that is essential to our lives — and to our democracy.

Then there’s Free speech in America: is the US approach fit for purpose in the age of social media?, a virtual carbon copy of the first, which states:

The attack on the Capitol exposed, in stark terms, the dangers of disinformation in the digital age. It provides an opportunity to reflect on the extent to which certain elements of America’s free speech tradition may no longer be fit for purpose.

And finally, my personal favourite, Why ‘free speech’ needs a new definition in the age of the internet and Trump tweets in which author Peter Ives warns of the “weaponising of free speech” and concludes:

Trump’s angry mob was not just incited by his single speech on Jan. 6, but had been fomenting for a long time online. The faith in reason held by Mill and Kant was premised on the printing press; free speech should be re-examined in the context of the internet and social media.

Ives clearly thinks he’s enlightened and liberal and educated, after all he drops references to Kant AND Mills (that’s right TWO famous philosophers), but he’s really not. He’s just an elitist arguing working class people are too dumb to be allowed to speak, or even hear ideas that might get them all riled-up and distract them from their menial labour.

To season these stale ideas with a sprinkling of fear-porn, NBC News is reporting that the FBI didn’t report their “concerns” over possible violence at the Capitol, because they were worried about free speech. (See, if the FBI hadn’t been protecting people’s free speech, that riot may not have happened!)

And on top of all of that, there’s the emotional manipulation angle, where authors pretend to be sad or exasperated or any of the emotions they used to have.

In the Irish Independent, Emma Kelly says that “free speech” doesn’t include “hate speech” (she’s never exactly clear what part of “go home in peace love” was hate speech though).

In The Hill, Joe Ferullo is almost in tears that the first amendment has been ruined by the right-wing press continuously “shouting fire in a crowded theatre”, citing the famous Oliver Wendell Holmes quote, which so many use to “qualify” the idea of free speech, without realising it hands over power to destroy it completely.

Up until you can show me the hard-and-fast legal definitions of “shout”, “fire”, “crowded” and “theatre”, this open-ended qualification is nothing but a blank canvas, free to be interpreted as loosely – or stringently – as any lawmaker or judiciary feels is necessary.

As an example:

Twitter is certainly bigger and more populated than a theatre, and spreading anti-vaccination/anti-war/pro-Russia/”Covid denial” news [delete as appropriate] is certainly going to cause more panic than one single building being on fire. Isn’t it?

It’s this potential abuse of incredibly loose terminologies which will be used to “redefine” free speech.

“Offensive”, “misinformation”, “hate speech” and others will be repeated. A lot.

Expressions which have no solid definition under law, and are already being shown to mean nothing to the media talking heads who repeat them ad nauseum.

If “go home in peace and love”, can become “inciting violence”, absolutely everything can be made to mean absolutely anything.

The more they “redefine” words, the further we move into an Orwellian world where all meaning is entirely lost.

And what would our newly defined “free speech” really mean in such a world?

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Julian Assange – Google Is Not What It Seems

Posted by M. C. on January 18, 2021

Caught red-handed last year making petabytes of personal data available to the US intelligence community through the PRISM program, Google nevertheless continues to coast on the goodwill generated by its “don’t be evil” doublespeak. 

https://wikileaks.org/google-is-not-what-it-seems/

by Julian Assange

In this extract from his new book When Google Met Wikileaks, WikiLeaks’ publisher Julian Assange describes the special relationship between Google, Hillary Clinton and the State Department — and what that means for the future of the internet. WikiLeaks readers can obtain a 20 percent discount on the cover price when ordering from the OR Books website by using the coupon code “WIKILEAKS”.

* * * Eric Schmidt is an influential figure, even among the parade of powerful characters with whom I have had to cross paths since I founded WikiLeaks. In mid-May 2011 I was under house arrest in rural Norfolk, about three hours’ drive northeast of London. The crackdown against our work was in full swing and every wasted moment seemed like an eternity. It was hard to get my attention. But when my colleague Joseph Farrell told me the executive chairman of Google wanted to make an appointment with me, I was listening.         In some ways the higher echelons of Google seemed more distant and obscure to me than the halls of Washington. We had been locking horns with senior US officials for years by that point. The mystique had worn off. But the power centers growing up in Silicon Valley were still opaque and I was suddenly conscious of an opportunity to understand and influence what was becoming the most influential company on earth. Schmidt had taken over as CEO of Google in 2001 and built it into an empire.1

        I was intrigued that the mountain would come to Muhammad. But it was not until well after Schmidt and his companions had been and gone that I came to understand who had really visited me.

* * *
        The stated reason for the visit was a book. Schmidt was penning a treatise with Jared Cohen, the director of Google Ideas, an outfit that describes itself as Google’s in-house “think/do tank.” I knew little else about Cohen at the time. In fact, Cohen had moved to Google from the US State Department in 2010. He had been a fast-talking “Generation Y” ideas man at State under two US administrations, a courtier from the world of policy think tanks and institutes, poached in his early twenties. He became a senior advisor for Secretaries of State Rice and Clinton. At State, on the Policy Planning Staff, Cohen was soon christened “Condi’s party-starter,” channeling buzzwords from Silicon Valley into US policy circles and producing delightful rhetorical concoctions such as “Public Diplomacy 2.0.”2 On his Council on Foreign Relations adjunct staff page he listed his expertise as “terrorism; radicalization; impact of connection technologies on 21st century statecraft; Iran.”3 Director of Google Ideas, and “geopolitical visionary” Jared Cohen shares his vision with US Army recruits in a lecture theatre at West Point Military Academy on 26 Feb 2014 (Instagram by Eric Schmidt)         It was Cohen who, while he was still at the Department of State, was said to have emailed Twitter CEO Jack Dorsey to delay scheduled maintenance in order to assist the aborted 2009 uprising in Iran.4 His documented love affair with Google began the same year, when he befriended Eric Schmidt as they together surveyed the post-occupation wreckage of Baghdad. Just months later, Schmidt re-created Cohen’s natural habitat within Google itself by engineering a “think/do tank” based in New York and appointing Cohen as its head. Google Ideas was born.        Later that year the two co-wrote a policy piece for the Council on Foreign Relations’ journal Foreign Affairs, praising the reformative potential of Silicon Valley technologies as an instrument of US foreign policy.5 Describing what they called “coalitions of the connected,”6 Schmidt and Cohen claimed that Democratic states that have built coalitions of their militaries have the capacity to do the same with their connection technologies. . . . They offer a new way to exercise the duty to protect citizens around the world [emphasis added].7

        In the same piece they argued that “this technology is overwhelmingly provided by the private sector.” Shortly afterwards, Tunisia. then Egypt, and then the rest of the Middle East, erupted in revolution. The echoes of these events on online social media became a spectacle for Western internet users. The professional commentariat, keen to rationalize uprisings against US-backed dictatorships, branded them “Twitter revolutions.” Suddenly everyone wanted to be at the intersection point between US global power and social media, and Schmidt and Cohen had already staked out the territory. With the working title “The Empire of the Mind,” they began expanding their article to book length, and sought audiences with the big names of global tech and global power as part of their research.

        They said they wanted to interview me. I agreed. A date was set for June. Eric Schmidt, Chairman of Google, at the “Pulse of Today’s Global Economy” panel talk at the Clinton Global Initiative annual meeting, 26 Sept. 2013 in New York. Eric Schmidt first attended the CGI annual meeting at its opening plenary in 2010. (Photo: Mark Lennihan)

        By the time June came around there was already a lot to talk about. That summer WikiLeaks was still grinding through the release of US diplomatic cables, publishing thousands of them every week. When, seven months earlier, we had first started releasing the cables, Hillary Clinton had denounced the publication as “an attack on the international community” that would “tear at the fabric” of government.

        It was into this ferment that Google projected itself that June, touching down in a London airport and making the long drive up into East Anglia to Norfolk and Beccles. Schmidt arrived first, accompanied by his then partner, Lisa Shields. When he introduced her as a vice president of the Council on Foreign Relations—a US foreign-policy think tank with close ties to the State Department—I thought little more of it. Shields herself was straight out of Camelot, having been spotted by John Kennedy Jr.’s side back in the early 1990s. They sat with me and we exchanged pleasantries. They said they had forgotten their dictaphone, so we used mine. We made an agreement that I would forward them the recording and in exchange they would forward me the transcript, to be corrected for accuracy and clarity. We began. Schmidt plunged in at the deep end, straightaway quizzing me on the organizational and technological underpinnings of WikiLeaks.         Some time later Jared Cohen arrived. With him was Scott Malcomson, introduced as the book’s editor. Three months after the meeting Malcomson would enter the State Department as the lead speechwriter and principal advisor to Susan Rice (then US ambassador to the United Nations, now national security advisor). He had previously served as a senior advisor at the United Nations, and is a longtime member of the Council on Foreign Relations. At the time of writing, he is the director of communications at the International Crisis Group.8

        At this point, the delegation was one part Google, three parts US foreign-policy establishment, but I was still none the wiser. Handshakes out of the way, we got down to business. Google’s Chairman, Eric Schmidt, photographed in a New York elevator, carrying Henry Kissinger’s new book, “World Order”, 25 Sep 2014

        Schmidt was a good foil. A late-fiftysomething, squint-eyed behind owlish spectacles, managerially dressed—Schmidt’s dour appearance concealed a machinelike analyticity. His questions often skipped to the heart of the matter, betraying a powerful nonverbal structural intelligence. It was the same intellect that had abstracted software-engineering principles to scale Google into a megacorp, ensuring that the corporate infrastructure always met the rate of growth. This was a person who understood how to build and maintain systems: systems of information and systems of people. My world was new to him, but it was also a world of unfolding human processes, scale, and information flows.         For a man of systematic intelligence, Schmidt’s politics—such as I could hear from our discussion—were surprisingly conventional, even banal. He grasped structural relationships quickly, but struggled to verbalize many of them, often shoehorning geopolitical subtleties into Silicon Valley marketese or the ossified State Department microlanguage of his companions.9 He was at his best when he was speaking (perhaps without realizing it) as an engineer, breaking down complexities into their orthogonal components.

        I found Cohen a good listener, but a less interesting thinker, possessed of that relentless conviviality that routinely afflicts career generalists and Rhodes scholars. As you would expect from his foreign-policy background, Cohen had a knowledge of international flash points and conflicts and moved rapidly between them, detailing different scenarios to test my assertions. But it sometimes felt as if he was riffing on orthodoxies in a way that was designed to impress his former colleagues in official Washington. Malcomson, older, was more pensive, his input thoughtful and generous. Shields was quiet for much of the conversation, taking notes, humoring the bigger egos around the table while she got on with the real work.

        As the interviewee I was expected to do most of the talking. I sought to guide them into my worldview. To their credit, I consider the interview perhaps the best I have given. I was out of my comfort zone and I liked it. We ate and then took a walk in the grounds, all the while on the record. I asked Eric Schmidt to leak US government information requests to WikiLeaks, and he refused, suddenly nervous, citing the illegality of disclosing Patriot Act requests. And then as the evening came on it was done and they were gone, back to the unreal, remote halls of information empire, and I was left to get back to my work. That was the end of it, or so I thought.

* * *

        Two months later, WikiLeaks’ release of State Department cables was coming to an abrupt end. For three-quarters of a year we had painstakingly managed the publication, pulling in over a hundred global media partners, distributing documents in their regions of influence, and overseeing a worldwide, systematic publication and redaction system, fighting for maximum impact for our sources.         But in an act of gross negligence the Guardian newspaper—our former partner—had published the confidential decryption password to all 251,000 cables in a chapter heading in its book, rushed out hastily in February 2011.10 By mid-August we discovered that a former German employee—whom I had suspended in 2010—was cultivating business relationships with a variety of organizations and individuals by shopping around the location of the encrypted file, paired with the password’s whereabouts in the book. At the rate the information was spreading, we estimated that within two weeks most intelligence agencies, contractors, and middlemen would have all the cables, but the public would not.

I decided it was necessary to bring forward our publication schedule by four months and contact the State Department to get it on record that we had given them advance warning. The situation would then be harder to spin into another legal or political assault. Unable to raise Louis Susman, then US ambassador to the UK, we tried the front door. WikiLeaks investigations editor Sarah Harrison called the State Department front desk and informed the operator that “Julian Assange” wanted to have a conversation with Hillary Clinton. Predictably, this statement was initially greeted with bureaucratic disbelief. We soon found ourselves in a reenactment of that scene in Dr. Strangelove, where Peter Sellers cold-calls the White House to warn of an impending nuclear war and is immediately put on hold. As in the film, we climbed the hierarchy, speaking to incrementally more superior officials until we reached Clinton’s senior legal advisor. He told us he would call us back. We hung up, and waited. Sarah Harrison and Julian Assange call the U.S. State Department in September 2011.

          When the phone rang half an hour later, it was not the State Department on the other end of the line. Instead, it was Joseph Farrell, the WikiLeaks staffer who had set up the meeting with Google. He had just received an email from Lisa Shields seeking to confirm that it was indeed WikiLeaks calling the State Department.         It was at this point that I realized Eric Schmidt might not have been an emissary of Google alone. Whether officially or not, he had been keeping some company that placed him very close to Washington, DC, including a well-documented relationship with President Obama. Not only had Hillary Clinton’s people known that Eric Schmidt’s partner had visited me, but they had also elected to use her as a back channel. While WikiLeaks had been deeply involved in publishing the inner archive of the US State Department, the US State Department had, in effect, snuck into the WikiLeaks command center and hit me up for a free lunch. Two years later, in the wake of his early 2013 visits to China, North Korea, and Burma, it would come to be appreciated that the chairman of Google might be conducting, in one way or another, “back-channel diplomacy” for Washington. But at the time it was a novel thought.11 Eric Schmidt’s Instagram of Hillary Clinton and David Rubinstein, taken at the Holbrooke Forum Gala, 5 Dec 2013. Richard Holbrooke (who died in 2010) was a high-profile US diplomat, managing director of Lehman brothers, a board member of NED, CFR, the Trilateral Commission, the Bilderberg steering group and an advisor to Hillary Clinton and John Kerry. Schmidt donated over $100k to the the Holbrooke Forum

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Erie Times E-Edition Article-restaurant inspections

Posted by M. C. on January 16, 2021

Subheading in E-Edition “COVID-19 Inspections!!!” OK, I added the scare exclamations.

“Restaurant inspections” are now “COVID Inspections”.

Keeping the fear alive.

Here is a good one: “XXXX XXXXX St., Summit Township. (No state DEP number on gallon containers of spring water.) Tuesday.” No way am I going there!

https://erietimes-pa-app.newsmemory.com/?publink=4f1b0b6f5

restaurant inspections

At least once a year, Erie County Department of Health officials inspect all restaurants and stores that sell unpackaged food, and they also inspect these facilities to ensure they follow COVID-19 regulations. Here is a list of inspections recorded Jan. 5-14:

etc, etc , etc…

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Federal Law Enforcement Agencies Authorized to Arrest People

Posted by M. C. on January 16, 2021

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What They Said About Lockdowns Before Covid

Posted by M. C. on January 16, 2021

https://www.zerohedge.com/news/2021-01-15/goldfix-what-they-said-about-lockdowns-covid

Vince Lanci's Photoby Vince Lanci

Authored by Micha Gartz of AIER.org

In 2020, beliefs about how to handle a new virus shifted massively. Prior to the Covid-19 pandemic, mainstream epidemiology and public health entities doubted – or even rejected – the efficacy of lockdowns and mass quarantines because they were considered ineffective. This all changed in March 2020, when sentiment flipped in support of lockdown measures. Still, there is a vast body of evidence explaining their original stance and why these mandates do not work. 

[Edit-links to original stories embedded  in sub headlines- VBL]

  1. Fauci said that shutting down the country does not work. (January 24, 2020)

Early into 2020, Fauci spoke to reporters saying, “That’s something that I don’t think we could possibly do in the United States, I can’t imagine shutting down New York or Los Angeles, but the judgement on the part of the Chinese health authorities is that given the fact that it’s spreading throughout the provinces… it’s their judgement that this is something that in fact is going to help in containing it. Whether or not it does or does not is really open to question because historically when you shut things down it doesn’t have a major effect.”

  1. World Health Organization Report discusses NPIs and why quarantine is ineffective. (2019)

In a table, WHO lists their recommendations of NPIs depending on severity level. Quarantine of exposed individuals is categorized as “not recommended in any circumstances.” The report explains that “home quarantine of exposed individuals to reduce transmission is not recommended because there is no obvious rationale for this measure, and there would be considerable difficulties in implementing it.”

  1. WHO acknowledges social-distancing did not stop or dramatically reduce transmission during the 1918 influenza pandemic. (2006)

The WHO authors ultimately conclude that NPIs, including quarantining, require better and more focused methods to make them more effective and less “burdensome.” “Ill persons,” the authors assert, “should remain home when they first become symptomatic, but forced isolation and quarantine are ineffective and impractical.” Summarizing reports from the 1918 influenza pandemic the WHO cites Lomé (British-occupied Togo) and Edmonton (Canada) as places where “isolation and quarantine were instituted; public meetings were banned; schools, churches, colleges, theaters, and other public gathering places were closed.” Yet, despite additional measures (Lomé halted traffic, and Edmonton restricted business hours) in both cases “social-distancing measures did not stop or appear to dramatically reduce transmission.” A United States, comprehensive report on the 1918 pandemic also concluded that closures “[were] not demonstrably effective in urban areas but might be effective in smaller towns and rural districts, where group contacts are less numerous.” 

  1. A study in the Bulletin of Mathematical Biology regarding the 1918 influenza pandemic in Canada also concluded quarantines do not work. (2003)

The study simulated different levels of travel and found that travel limits could be effective but “that a policy of introducing quarantine at the earliest possible time may not always lead to the greatest reduction in cases of a disease.” The authors conclude that, “quarantine measures limiting intercommunity travel are probably never 100% effective, and simulation results suggest that such a situation may actually make things worse, especially in the absence of strong efforts to keep infectious individuals isolated from the rest of the population.”

  1. Popular author and Tulane adjunct professor John M. Barry, a strong opponent of the Great Barrington Declaration, argued that quarantines do not work in the case of the Spanish Flu. (2009)

Over a decade ago, Barry found that historically quarantines have been unsuccessful: “This author supports most proposed NPIs except for quarantine, which historical evidence strongly suggests is ineffective, and possibly school closing, pending analysis of recent events.” And instead promotes commonly touted measures, such as remaining home when unwell (and isolating from family members while doing so), frequently washing hands, and wearing a mask if you are sick. On the latter point he warns against healthy people wearing masks, noting: “Evidence from the SARS outbreak suggests that most health care workers infected themselves while removing protective equipment.”

  1. Seton Hall’s Center for Global Health Studies Director says travel restrictions did not delay the transmission of SARS. (2009)

Yanzhong Huang acknowledges that “travel restrictions and quarantine measures have limited benefit in stopping the spread of disease […] affecting travel and trade, dissuading the very kind of transparency and openness essential for a global response to disease outbreaks.” These measures ultimately undermine a country’s surveillance capacity because “people who show symptoms might choose to shun public health authorities for fear of quarantine or stigmatization [and squander] limited health resources […] Laurie Garrett of the Council on Foreign Relations [noted] by July signs of fatigue and resource depletion had already set in most of the world.

  1. A study from Wake Forest University encounters ‘self-protection fatigue’ in simulated epidemic. (2013)

Study uses a multiplayer online game to simulate the spread of an infectious disease through a population composed of the players. The authors find that “people’s willingness to engage in safe behavior waxes or wanes over time, depending on the severity of an epidemic […] as time goes by; when prevalence is low, a ‘self-protection fatigue’ effect sets in whereby individuals are less willing to engage in safe behavior over time.” They say this is “reminiscent of condom fatigue—the declining use of condom as a preventive measure—in the context of HIV/AIDS prevention.”

  1. In Biosecurity and Bioterrorism journal, Johns Hopkins epidemiologists reject quarantines outright. (2006)

In an article titled, “Disease Mitigation Measures in the Control of Pandemic Influenza,” JHU epidemiologists note problems with lockdowns: “As experience shows, there is no basis for recommending quarantine either of groups or individuals. The problems in implementing such measures are formidable, and secondary effects of absenteeism and community disruption as well as possible adverse consequences, such as loss of public trust in government and stigmatization of quarantined people and groups, are likely to be considerable.” Their concluding remark emphasized, “experience has shown that communities faced with epidemics or other adverse events respond best and with the least anxiety when the normal social functioning of the community is least disrupted.”

  1. In a top journal, American Journal of Epidemiology, authors explain the conditions when quarantine would be effective, which do not align with the characteristics of Covid-19. (2006)

Specifically, they note that quarantines will only be effective when: (1) isolation is not possible; and (2) asymptomatic spread is significant and timed in a narrow way (none of which is the case for Covid). They conclude that “the number of infections averted through the use of quarantine is expected to be very low provided that isolation is effective.” And if isolation is ineffective? Then it will only be beneficial “when there is significant asymptomatic transmission and if the asymptomatic period is neither very long nor very short.” But, should mass quarantine be used it would “inflict significant social, psychological, and economic costs without resulting in the detection of many infected individuals.”

  1. In the Epidemiology Journal, Harvard and Yale professors Marc Lipsitch and Ted Cohen say delaying infection can leave the elderly worse off. (2008)

They explain how delaying the risk of infection can work counterintuitively when the pathogen is more lethal for older populations. They say, “Reducing the risk that each member of a community will be exposed to a pathogen has the attendant effect of increasing the average age at which infections occur. For pathogens that inflict greater morbidity at older ages, interventions that reduce but do not eliminate exposure can paradoxically increase the number of cases of severe disease by shifting the burden of infection toward older individuals.” Based on this analysis, Covid-19, which disproportionately harms the older more than the young, is better handled by allowing the community to be exposed, whether through natural infection or vaccination.

  1. A team of Johns Hopkins scholars say quarantines don’t work but are pursued for political reasons. (September 2019)

In the report, they explain how quarantine is more political than related to public health: “During an emergency, it should be expected that implementation of some NPIs, such as travel restrictions and quarantine, might be pursued for social or political purposes by political leaders, rather than pursued because of public health evidence.” Later on, they explain the ineffectiveness of quarantine: “In the context of a high-impact respiratory pathogen, quarantine may be the least likely NPI to be effective in controlling the spread due to high transmissibility.”

In March 2020, Michael Osterholm – now Biden’s Covid-19 advisor – also argued that lockdowns are not a “cure” for the pandemic, listing multiple costs from a lockdown. Yet, Osterholm’s New York Times article in August reveals a contrasting viewpoint, stating that “we gave up on our lockdown efforts to control virus transmission well before the virus was under control” by opening “too quickly.” Osterholm and (Neel) Kashkari promote a mandatory shelter-in-place “for everyone but the truly essential workers.”

Also in March 2020, these findings from the listed works and many others culminated in an open letter to vice-president Mike Pence signed by 800 medical specialists from numerous universities throughout the country which pointed out: “Mandatory quarantine, regional lockdowns, and travel bans[…] are difficult to implement, can undermine public trust, have large societal costs and, importantly, disproportionately affect the most vulnerable segments in our communities.”

While expert consensus regarding the ineffectiveness of mass quarantine of previous years has recently been challenged, significant present-day evidence continuously demonstrates that mass quarantine is both ineffectual at preventing disease spread as well as harmful to individuals. Learning the wrong lesson – assuming that mass quarantines are both good and effective – sets a dangerous precedent for future pandemics.

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Woke Elementary: Critical Race Theory & California’s “Inconvenient Minority” | ZeroHedge

Posted by M. C. on January 16, 2021

One parent told me that critical race theory was reminiscent of the Chinese Cultural Revolution.

https://www.zerohedge.com/political/woke-elementary-critical-race-theory-californias-inconvenient-minority

Tyler Durden's Photoby Tyler DurdenFriday

Authored by Christopher Rufo via City-Journal.org,

An elementary school in Cupertino, California – a Silicon Valley community with a median home price of $2.3 million – recently forced a class of third-graders to deconstruct their racial identities, then rank themselves according to their “power and privilege.”

Based on whistleblower documents and parents familiar with the session, a third-grade teacher at R.I. Meyerholz Elementary School began the lesson on “social identities” during a math class. The teacher asked all students to create an “identity map,” listing their race, class, gender, religion, family structure, and other characteristics. The teacher explained that the students live in a “dominant culture” of “white, middle class, cisgender, educated, able-bodied, Christian, English speaker[s],” who, according to the lesson, “created and maintained” this culture in order “to hold power and stay in power.”

Next, reading from This Book Is Antiracist, the students learned that “those with privilege have power over others” and that “folx who do not benefit from their social identities, who are in the subordinate culture, have little to no privilege and power.” As an example, the reading states that “a white, cisgender man, who is able-bodied, heterosexual, considered handsome and speaks English has more privilege than a Black transgender woman.” In some cases, because of the principle of intersectionality, “there are parts of us that hold some power and other parts that are oppressed,” even within a single individual.

Following this discussion, the teacher had the students deconstruct their own intersectional identities and “circle the identities that hold power and privilege” on their identity maps, ranking their traits according to the hierarchy. In a related assignment, the students were asked to write short essays describing which aspects of their identities “hold power and privilege” and which do not. The students were expected to produce “at least one full page of writing.” As an example, the presentation included a short paragraph about transgenderism and nonbinary sexuality.

The lesson caused an immediate uproar among Meyerholz Elementary parents.

“We were shocked,” said one parent, who agreed to speak with me on condition of anonymity.

“They were basically teaching racism to my eight-year-old.”

This parent, who is Asian-American, rallied a group of a half dozen families to protest the school’s intersectionality curriculum. The group met with the school principal and demanded an end to the racially divisive instruction. After a tense meeting, the administration agreed to suspend the program. (When reached for comment, Jenn Lashier, the principal of Meyerholz Elementary, said that the training was not part of the “formal curricula, but the process of daily learning facilitated by a certified teacher.”)

The irony is that, despite being 94 percent nonwhite, Meyerholz Elementary is one of the most privileged schools in America. The median household income in Cupertino is $172,000, and nearly 80 percent of residents have a bachelor’s degree or higher. At the school, where the majority of families are Asian-American, the students have exceptionally high rates of academic achievement and the school consistently ranks in the top 1 percent of all elementary schools statewide. In short, nobody at Meyerholz is oppressed, and the school’s high-achieving parents know that teaching intersectionality instead of math is a waste of time—and potentially dangerous.

One parent told me that critical race theory was reminiscent of the Chinese Cultural Revolution.

“[It divides society between] the oppressor and the oppressed, and since these identities are inborn characteristics people cannot change, the only way to change it is via violent revolution,” the parent said.

“Growing up in China, I had learned it many times. The outcome is the family will be ripped apart; husband hates wife, children hate parents. I think it is already happening here.”

The small fight at Meyerholz reflects a larger development: for the first time, Asian-Americans on the West Coast have become politically mobilized. In 2019, Asian-Americans ran a successful initiative campaign against affirmative action in Washington State; in 2020, Asian-Americans ran a similar campaign in California, winning by an astonishing 57 percent to 43 percent margin. In both cases, they defended the principles of meritocracy, individual rights, and equality under the law—and roundly defeated a super-coalition of the states’ progressive politicians, activists, universities, media, and corporations.

The stakes are high for the Asian-American community. For progressives insisting on the narrative of “white supremacy” and “systemic racism,” Asian-Americans are the “inconvenient minority”: they significantly outperform all other racial groups, including whites, in terms of academic achievement, college admissions, household income, family stability, and other key measures. Affirmative action and other critical race theory-based programs would devastate their admissions to universities and harm their futures.

At Meyerholz Elementary, the Asian-American families are on high alert for critical race theory in the classroom. Since their initial victory, they have begun to consider campaigning against the school board.

“We think some of our school board members are [critical race theory] activists and they must go,” said one parent.

The capture of our public institutions by progressives obsessed by race and privilege deserves opposition at every level. The parents of Cupertino have joined the fight.

This article is part of an ongoing series on critical race theory in American schools.

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EconomicPolicyJournal.com: WARNING: Bitcoin is Extremely Trackable and is Resulting in an Investigation In Relation to the Storming of the Capitol

Posted by M. C. on January 16, 2021

https://www.economicpolicyjournal.com/2021/01/warning-bitcoin-is-extremely-trackable.html

 From Jenna McLaughlin at Yahoo (my bold):

On Dec. 8, someone made a simultaneous transfer of 28.15 bitcoins — worth more than $500,000 at the time — to 22 different virtual wallets, most of them belonging to prominent right-wing organizations and personalities.

Now cryptocurrency researchers believe they have identified who made the transfer, and suspect it was intended to bolster those far-right causes. U.S. law enforcement is investigating whether the donations were linked to the Jan. 6 assault on the U.S. Capitol.

While the motivation is difficult to prove, the transfer came just a month before the violent riot in the Capitol, which took place after President Trump invited supporters to “walk down Pennsylvania Avenue” and “take back our country.”

Right-wing figures and websites, including VDARE, the Daily Stormer and Nick Fuentes, received generous donations from a bitcoin account linked to a French cryptocurrency exchange, according to research done by software company Chainalysis, which maintains a repository of information about public cryptocurrency exchanges and whose tools aid in government, law enforcement and private sector investigations. Chainalysis investigated the donations after Yahoo News shared the data points about the transaction.

According to one source familiar with the matter, the suspicious Dec. 8 transaction, along with a number of other pieces of intelligence, has prompted law enforcement and intelligence agencies in recent days to actively investigate the sources of funding for the individuals who participated in the Capitol insurrection, as well as their networks. 

The connection to the storming of the Capitol is very sketchy from what is reported above but it shows you how links can develop when using Bitcoin.

Note well: This was a private organization that just tracked activity on the Bitcoin blockchain.

I repeat Bitcoin is extremely trackable.

#BrownPaperBags –RW

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Congress Cares When It’s Their Windows Being Broken | The Libertarian Institute

Posted by M. C. on January 16, 2021

Prosecutors are rushing to charge private citizens with a crime for which federal agents are practically immune. In 1984, the Supreme Court entitled government agents to intrude onto private land without a search warrant as long as they did not venture into areas where individuals were involved in “intimate activities” (i.e., nudist camps). “No Trespassing” signs no longer applied to G-men. 

Contrast the violence that lawmakers suffered with the violence that their laws have inflicted. Most of the Trump protestors were less destructive than SWAT teams carrying out a no-knock raid—as happens thousands of times a year in American neighborhoods across the land.

https://libertarianinstitute.org/articles/congress-cares-when-its-their-windows-being-broken/

by Jim Bovard

The political hysteria unleashed by last week’s clash at the Capitol between police and Trump protestors poses a growing danger to Americans’ constitutional rights. Senate Majority Leader Charles Schumer ludicrously compared the ruckus to Pearl Harbor—a “day of infamy.” Schumer complained that the “temple to democracy was desecrated…our offices vandalized” and that rioters were able to “stalk these hallowed halls.” Sen. Cory Booker (D-NJ) compared an incursion that broke some windows and furniture with the 1814 British invasion that torched the Capitol.

The pro-Trump mob should not have charged into the Capitol. President Donald Trump should not have fired them up with absurd claims that he won the election “by a landslide.” Even conservative firebrand Ann Coulter declared that “it was assholic [for Trump] to tell a crowd of thousands to march to the capitol.” Trump lawyer Rudolph Giuliani should never have called for a “trial by combat” when addressing Trump supporters. Once the protestors charged into the Capitol, Trump should have speedily called for an end to the confrontation.

Trump deserves much of the blame for the Capitol chaos. But the debacle would have been far less without blundering by congressional leadership and their small army of protectors. A Washington Post analysis of the “disastrous failure” by Capitol Police noted, “Security at the Capitol building is controlled by Congress itself.” The Capitol Police have an annual budget of almost half a billion dollars and two thousand officers – equal to the entire police forces of Cleveland or Atlanta. Video showed police standing back as people thronged inside the Capitol. The Post noted, “ One image posted on social media showed an officer taking a selfie with one of the intruders, and a video seemed to show officers opening the security fence to let Trump supporters closer.”

Politicians have been tripling the supposed threat they faced every 24 hours since last Wednesday. Rep. Alexandria Ocasio-Cortez (D-NY) said on Sunday, “We came close to half of the House nearly dying” from the attackers. The only person who was shot at the Capitol was a 35-year-old Air Force female veteran who was killed by a Capitol policeman. Fortunately, none of the protestors showed the homicidal intent akin to the Illinois man who shot four Republican congressmen in 2017 with a semi-automatic rifle at a softball field in Alexandria, Virginia. One policeman was killed when he was dragged into a mob and beaten, and a 34-year-old female Trump supporter was reportedly trampled to death in the clash between police and protestors. Another Trump supporter died of a heart attack and another protestor died of a stroke.

Rather than Pearl Harbor or a British invasion, last Wednesday’s ruckus was Lese Majeste, complete with a dude dressed like the Grand Poobah from Fred Flintstone cartoons. Many of the protestors looked like people who simply wanted to stomp their feet, shout, and take some selfies to show friends on social media what they did in Washington.

But politicians’ sense of impunity took a walloping as they received no deference on their home field. President-elect Biden said that the protestors’ action was “an assault on the citadel of liberty: the Capitol itself….An assault on the rule of law like few times we’ve ever seen it.” But rather than a “citadel of liberty,” the Capitol is the locale where politicians have negligently authorized endless assaults on the liberties of average Americans and the lives of uncounted victims around the world.

Contrast the violence that lawmakers suffered with the violence that their laws have inflicted. Most of the Trump protestors were less destructive than SWAT teams carrying out a no-knock raid—as happens thousands of times a year in American neighborhoods across the land. These attacks have been aided by a profusion of military-style equipment provided by Congress and federal agencies, as well as by the Justice Department constantly championing the legal prerogatives of law enforcement to use deadly force in almost any situation. An ACLU report characterized SWAT raids as “violent events: numerous (often 20 or more) officers armed with assault rifles and grenades approach a home, break down doors and windows (often causing property damage), and scream for the people inside to get on the floor (often pointing their guns at them).” Failure to instantly submit to SWAT raiders can be a capital offense. A New York Times investigation found that “at least 81 civilians and 13 law enforcement officers died in raids from 2010 through 2016. Scores of others were maimed or wounded.” The vast majority of members of Congress have ignored the perennial police carnage they helped bankroll around the nation.

Dozens of protestors have already been charged with “unlawful entry” for stepping foot onto the sacred ground of the Capitol. Some protestors said that they were not aware they were prohibited from entering the building. Prosecutors are rushing to charge private citizens with a crime for which federal agents are practically immune. In 1984, the Supreme Court entitled government agents to intrude onto private land without a search warrant as long as they did not venture into areas where individuals were involved in “intimate activities” (i.e., nudist camps). “No Trespassing” signs no longer applied to G-men. The same court decision unleashed government helicopters to buzz low over any private land they chose to investigate – no warrant needed. (Private helicopter operators who perform the same trick over federal buildings are entitled to front-page obituaries.)

President-elect Joe Biden condemned the protestors storming the Capitol who had deigned to “occupy offices” and were “rummaging through desks…it’s an insurrection.” A few congressional offices did have their filing cabinets opened and plundered. But where was the umbrage on Capitol Hill when the National Security Agency vacuumed up millions of Americans’ emails? Where was the outrage when Edward Snowden exposed NSA documents showing that the agency turns its surveillance dynamos on anyone “searching the web for suspicious stuff“? Thanks to lavish congressional appropriations, the NSA continues devouring Americans’ privacy.

Nor did the clashes last week compare to the violence that Congress has authorized by U.S. military forces, which are now engaged in combat in 14 nations. Most members of Congress could probably not even name half of the nations where U.S. troops are fighting. After four U.S. soldiers were killed in Niger in 2017, Sen. Lindsey Graham (R-SC) and Schumer admitted they did not know that a thousand U.S. troops were deployed to that African nation. Graham, a member of the Senate Armed Services Committee, admitted, “We don’t know exactly where we’re at in the world militarily and what we’re doing.” Washington Post columnist David Ignatius in 2017 proudly cited an estimate from a “knowledgeable official” that “CIA-backed fighters may have killed or wounded 100,000 Syrian soldiers and their allies over the past four years.” Syria has taken no hostile action against the U.S. but few members of Congress have taken any responsibility for the carnage inflicted by the Biden-Trump intervention in the Syrian Civil War. No evidence has surfaced thus far linking Syrians to any broken windows in the Capitol.

The protestors who swarmed the Capitol were far less disruptive than the blockades that the US government has imposed on Syria, Venezuela, Iran, and other nations. US Navy ships are ready to intercede even medical supplies to those nations whose governments have raised the ire of Washington policymakers. There have been no press reports so far indicating that protestors stopped congressional offices from getting resupplied with Perrier.

In the wake of the clashes at the Capitol, Democrats are calling for a sweeping new “domestic terrorism” law that could profoundly restrict Americans’ freedom of speech and association. Many politicians have called for charging the Trump protestors with sedition—as if a ragtag mob that bumbled into a federal building and often stayed within the velvet rope lines designating paths for visitors was a bona fide threat. Sedition quickly becomes the equivalent of political heresy, spurring prosecutions that turn into witch hunts. There are already more than enough criminal laws and the feds should concentrate on discovering and vigorously prosecuting the individuals who attacked police – not on the nonviolent Trump fans who peacefully left the Capitol after a brief occupation.

Shortly before the protestors forced their way into the Capitol, Mitch McConnell declared that American democracy could go into a “death spiral of democracy” if the 2020 election result was not accepted. McConnell warned that challenging the 2020 election would mean “every four years would be a scramble for power at any cost.” He also said that “self-government requires a shared commitment to the truth.” But the mob violence at the Capitol may signal that the death spiral is already here. Elections have already become a scramble for power at any cost and few politicians seem to give a damn about the truth. Rep. Tom Malinowski (D-NJ) condemned Wednesday’s protestors: “If you just feed this beast in an effort to appease it, it just gets stronger and bolder until it comes after the very people who are trying to appease it.” But it is possible to condemn both the protestors who rampaged in the Capitol and the career politicians whose perennial abuses have destroyed Americans’ faith in the federal government. It would be especially unwise to confuse last week’s buffoonery with a bona fide coup attempt—which could happen if Washington continues disdaining too many angry Americans.

This article was originally featured at the American Institute for Economic Research

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BIDEN’S BANANA REPUBLIC – Matterhorn – GoldSwitzerland

Posted by M. C. on January 16, 2021

https://goldswitzerland.com/bidens-banana-republic/

By Egon von Greyerz

Donald Trump is probably the luckiest presidential candidate in history to have lost an election. He doesn’t realise it yet as he suffers from a self-inflicted wound in the final moments of his presidency. Nor does Biden yet realise how unlucky he is to have won. But that will soon change as his presidency goes from crisis to crisis in all areas from monetary to fiscal to social and political. Very little will go right during his presidency.

The next four years could easily be four years of hell for Biden (if he stays the course for the whole four years), for the US and thus for the world.

TRUMP OBLIGED AS PREDICTED

When Trump won the election in November 2016 I wrote an article, dated Nov 18, 2016, called “Trump Will Grow US Debt Exponentially” .

The article also contained the following graph. In the article I predicted that US debt would double by 2025 to $40 trillion and that it would be $28t in January 2021 at the end of the four years.

Well, surprise, surprise, the debt is today $27.77t which can easily be rounded up to $28t.

I am certainly no forecasting genius, nor was the forecast just luck.

No, it was applying the best method that we have all been given but that few apply or understand.

This method is called HISTORY.

DEBT UP 31X & TAX REVENUE UP 6X

US debt had on average doubled every 8 years since Reagan took over in 1981. So as Trump became president in Jan 2017, he inherited a debt of $20t. Easy then to forecast that 8 years later the debt would be $40t. The $28t forecast for Jan 2021 is just the mathematical in-between point between $20t and $40t.

Even worse than the debt explosion is the the lack of tax revenue to finance the escalating and chronic budget deficits. As the graph above shows, debt has grown 31x since 1981 whilst tax revenues have only grown 6x.

The US deficit is currently $3.3t which is virtually equal to total tax revenue of $3.4t. This means that 50% of annual government spending needs to be borrowed.

BANANA REPUBLIC

The US economy now clearly fits the definition of a Banana republic. A brief description is: “In political science, the term banana republic describes a politically unstable country with an economy dependent upon the exportation of a limited-resource product, such as bananas or minerals.”

In the case of the US, the product they export is of course dollars printed out of thin air – a wonderful export item since supply is unlimited.

Further description is: “Typically, a banana republic has a society of extremely stratified social classes, usually a large impoverished working class and a ruling class plutocracy, composed of the business, political, and military elites of that society.”

Like all Banana Republics, the US economy and social structure is now on the way to perdition with virtually nil chance for Biden & Co to reverse the inevitable course of events.

HISTORY – HISTORY

So back to history – History is what has formed us and history doesn’t just rhyme as Mark Twain said but it often repeats itself. The debt explosion is another good example.

If more people studied and understood history, they would not just recognise the utmost importance of what lies behind us but also that history will teach us about what lies in front of us.

But very few scholars and no journalists study history. Instead we are now in an era when both the media and universities worldwide want to erase history and rewrite the history books. This shows us the total lack of understanding of the utmost importance of history in the evolution of the world.

But this is part of the total decadence and denial that we see at the end of major eras or cycles. The current cycle, whether it is just a 300 year cycle or a 2,000 year old cycle is now coming to an end. These changes clearly don’t happen overnight but the first phase of the fall can be dramatic. And that phase is likely to be starting very soon.

BIDEN ONLY HAS ONE TRICK UP HIS SLEEVE

So what will Biden and his masters do? Well Biden has already called for $ trillions of further support.

He also said: “If we don’t act now, things are going to get much worse and harder to get out of a hole later.”

Well we always knew that Biden really only had one trick up his sleeve – TO PRINT MORE than any president has done in history. To beat Trump is not hard, he only printed $8t in 4 years!

Let’s just remind ourselves that it took 200 years (1808-2008) to increase the US debt from $65 million to $10 trillion.

When Obama took over in Jan 2009 he inherited a $8t debt. Eight years later he handed over a $20t batten to Trump.

In 8 years Obama printed and borrowed more money than the previous presidents had achieved in the course of 200 years!

So will Biden print more than $10t?

Definitely!

Will he do it in 4 years? Most probably!

As I forecasted in my article in 2016, the debt will be at least $40t in Jan 2025, a $12t increase from today.

But no one should believe that Biden will stop at $40t. The US economy is already leaking like a sieve. And the problems have just started.

The problems in the currently semi-paralysed US economy will escalate at a rapid rate and the Biden team will attempt to plug every hole at all levels from a minimum wage to saving major corporations.

But sadly, Banana Republics don’t survive by printing worthless money.

PROBLEMS IN THE FINANCIAL SYSTEM AND NOT CV-19 STARTED THE CRISIS

Still, we mustn’t forget what started the latest phase of problems in the US economy.

It wasn’t Covid back in February 2020. No, that was a mere catalyst. The underlying disaster was a lot deeper. The real problem started back in Aug-Sep 2019. This is when the problems in the financial system became acute and both the ECB and Fed started flooding the system with money. But not real money of course but just worthless paper money created with just pushing a button.

Between the Fed and the ECB just under $8t of “fake” money has been created digitally since Sep 2019. It must obviously be called fake since nobody had to perform any work or produce any goods or services against this money.

It is really scandalous to call it money since it is no different from the Monopoly game money.

WHEN THE MUSIC STOPS…….

The printed $8 trillion at $15 per hour (Biden’s new minimum wage) equals 60 million man hours. But in the modern MMT (Money Market Theory) paradigm, you don’t need to work for the money. Whatever the world needs, central banks and governments can just create out of nothing.

That is until the music stops. And Biden or Harris are the likely conductors who will preside over the music stopping and the whole edifice collapsing.

The wise will obviously find a chair already now because when the music stops there will be no chairs free and all hell will break loose.

By that time debt will not just be in the $trillions or $100s of trillions. No, the printing will have reached $ and EUR quadrillions as not only most collapsing debt will need to be bought by central banks but also derivatives which probably amount to $2 quadrillion or more.

In addition, medical care, social security and unfunded pensions will probably exceed $1 quadrillion globally and add to the demise of the financial system.

Could I be wrong. Maybe. A close friend gave me once a T-shirt with the inscription:

“I AM NOT ALWAYS RIGHT – But I am never wrong”!

The gift must have been a subtle hint – Hmmm

Still, in my humble view I don’t believe that any orderly reset will change the inevitable course of events. So as far as I am concerned, it is not IF but WHEN.

A professional life of over half a century has taught me that even the most evident events can take longer to develop than you think.

But as I see risk at an extreme, now is the time to prepare.

MARKETS

So to finish, let’s have a quick look at where I see markets. I know forecasting is a mug’s game and I am not really interested in how markets move in the short term more than from an observational point of view.

In the next few years it is all about economic survival and wealth preservation rather than worrying about where the Dow or the Dax is going next.

See the rest here

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