President Reagan was widely mocked in America when he declared the Soviet Union an evil empire , but this calling things by their real name had a profound impact in the Eastern Bloc. None of which turned out to be true. While all nation-states harbor multitudes of sins, the Soviet Empire was unique in its mass suppression of basic human rights, its economic failure to better the lives of its imprisoned populations while its military might soared, and the perverse union of a Kafkaesque bureaucracy and an Orwellian propaganda machine epitomized by the old Soviet-era joke that "we pretend to work and they pretend to pay us.
See charts below. This dynamic is already painfully visible in rising homelessness, suicide rates, opioid addictions, burnout, intolerance, etc.
Charles Hugh Smith
If we examine why our economy has become a winner take most casino, we find the gaming tables are rigged to favor the few closest to the Fed's money spigots: when JP Morgan gets in trouble by leveraging socially parasitic bets , the Fed steps in and saves their gambles by printing hundreds of billions of dollars in repos. As a result of the Fed backstop, JP Morgan reported blow-out earnings.
The net result of the Fed's goosing the stock market ever higher is soaring wealth inequality as the average US household gains precious little from record highs, and whatever gains they might have are sequestered in Ks and IRAs until they retire. The stagnant wages of the masses are the trickle down.
Average Carlos and Carlita don't get an unlimited line of credit from the Fed; only bankers, financiers and corporations get an unlimited line of credit from the Fed.
Would we rationalize this force as "no worse than any other force" and an "alternative system" with the same moral standing as free markets and democracy? Ours is a moral universe, and the first necessary step is to call things by their real name : the Fed is evil. If this force were external, its evil nature would not be denied or defended. The parallels with the Evil Empire don't stop there. While the Fed pillages the vast majority of Americans and diverts the nation's wealth to the top 0.
Let's call things by their real name : the Fed is evil. What does the future hold for you--and for the world? Our obsession with financial capital is blinding us to a traumatizing global decline in other forms of wealth.
Will artificial intelligence A. What if A. Is our economic model dooming us? Though we may not be politically powerful, we are far from powerless.
WTF: What The Fed?! Mike Maloney, Chris Martenson, Grant Williams & Charles Hugh Smith
This book will help you identify the things that truly matter, and accumulate capital that benefits you and your family--and our planet. Read the first section for free in PDF format. Will You Be Richer or Poorer?
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January 8, Is This "The Top"? Your name and email remain confidential and will not be given to any other individual, company or agency. All contributors are listed below in acknowledgement of my gratitude. Thank you, Jean-Pierre A. Thank you, Simon H. It is not intended as investment advice or guidance, nor is it offered as such Please know I read all emails, but I can only devote a very limited number of hours to this blog and all correspondence Contributions Contributors and subscribers enable Of Two Minds to post free content.
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As a result of the insight I have gained from the information Charles has shared over these past 9 years, I have been able to navigate this turbulent period much more successfully than most of my acquaintances.
I'm sure that those of you who visit OTM with any regularity have similarly benefitted in numerous ways.
The addition of the weekly musings has been an extra bonus for supporters that has provided further insight into the markets, as well as the world around us often providing a much needed smile. I have no doubt that those who generously contribute to this site recognize the value that it offers. I hope that those of you who visit, but have not yet contributed, will consider doing so. Your support is essential in helping to maintain such an important resource.
Thank you, Cheryl, for this vote of confidence. I can only promise that I will continue to do my best. He routinely discusses things which no one else has talked about, yet, turn out to be quite relevant months later. Box address.
Each weekly Musings Report offers five features: 1. Exclusive essay on a diverse range of topics 2. Summary of the blog this week 3. Best thing that happened to me this week 4.
Economic commentary 5. What subscribers are saying about the Musings Musings samples here : "What makes you a channel worth paying for? It's actually pretty simple - you possess a clarity of thought that most of us can only dream of, and a perspective that allows you to focus on the truth with laser-like precision. The "unsubscribe" link is for when you find the usual drivel here insufferable. Extra-Special Bonus Aphorisms: "There is no security on this earth; there is only opportunity.
It takes a touch of genius and a lot of courage to move in the opposite direction.
Schumacher, via Tom R. The impotence of force to organize anything. Some consequences will appear positive for a time before revealing their destructive nature.
Charles hugh smith pdf reader
Some consequences will be intended, some will not. Some will be foreseeable, some will not. Some will be controllable, some will not. Those that are unforeseen and uncontrollable will trigger waves of other unforeseen and uncontrollable consequences.
July 8, thanks to Lew G. I am no longer complicit in perpetuating fraudulent feudalism and the pathology of concentrated power. I no longer covet signifiers of membership in the Upper Caste that serves the plutocracy. I am liberated from self-destructive consumerist-State financialization and the delusion that debt servitude and obedience to sociopathological Elites serve my self-interests.
Thank you, Klaus-Peter L.
Books by Charles Hugh Smith
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