Economic Articles from 2020
World Economic Forum: The Institution Behind ‘The Great Reset’
by Steven Guinness
Posted August 13, 2020
Details of ‘The Great Reset‘ came as nations began to reopen their economies following a global lockdown. The extent to which Covid-19 has dominated every facet of existence – largely because of unrepentant media coverage – has encouraged people to focus exclusively on what life will be like after the virus. For many, what came before now seems inconsequential. It is anything but.
On examining the make up of Event 201, we find that the three institutions at the forefront of the simulation were the World Economic Forum, the Johns Hopkins Center for Health Security and the Bill and Melinda Gates Foundation.
It is through the WEF that ‘The Great Reset‘ was launched, in what the group said was in response to Covid-19. Johns Hopkins has been the go to source for the number of global infections and deaths thanks to their newly established ‘Coronavirus Resource Center‘. And then you have The Bill and Melinda Gates Foundation which has been a driving force behind efforts for a vaccination to be found and disseminated worldwide. More…
The COVID Class War
by Yanis Varoufakis
Posted July 3, 2020
The European Union’s proposed recovery fund to counter the pandemic’s economic fallout seems destined to leave the majority in every member state worse off. Finance will again be protected, if badly, while workers are left to foot the bill through new rounds of austerity.
Today, the weaknesses of, say, China and Germany are intertwined with those of countries like the US and Greece.The unshackling of finance in the early 1980s, following the elimination of capital controls left over from the Bretton Woods system, enabled enormous trade imbalances to be funded by rivers of money created privately via financial engineering. As the US shifted from a trade surplus to a massive deficit, its hegemony grew. Its imports maintain global demand and are financed by the inflows of foreigners’ profits that pour into Wall Street. More…
From Barter to Debt: A Brief History
By Naresh Jotwani
Posted August 1, 2020
Once a ‘headperson’ is persuaded that he or she has ‘an indispensable and central role in maintaining social order’, the seductive idea of ‘tax’ takes complete hold of his or her mind. ‘Ordinary community members’ are coerced into contributing towards the cost of ‘maintaining social order’ — including, naturally, the cost of maintaining the expensive instruments of coercion.
A brilliant new ‘business model’ was thus born about five thousand years ago!
It is not an over-statement to say that this has been the most durable and successful business model in human history. With the imposition of ‘tax’, community members become beholden to the ‘headperson’. From childhood, every citizen is educated to uphold this ‘moral obligation’, while the beneficiaries of the system find ways to evade their own moral obligation. More…
Again, What Were the Benefits of Locking Down?
by Edward Peter Stringham
Posted July 30, 2020
The school closures, stay home orders, shuttering of businesses, banning of elective surgeries, closure of physical entertainment events, blocked flights, and sudden imposition of a central plan – it all happened suddenly from mid-March in the course of only a few days, and to enormous shock on the part of people who had previously taken their freedom and rights for granted.
Despite enormous pressure from Washington, eight states did not lock down or used a very light touch: South Dakota, North Dakota, South Carolina, Wyoming, Utah, Arkansas, Iowa, and Nebraska.
After 100 days, we are in a position for some preliminary analysis of the performance of locked down states versus those that did not lock down. AIER has already published the evidence that lockdown states had higher rates of unemployment. More…
The Importance Of Where And What Consumers Buy
by Bruce Wilds
Posted July 29, 2020
How people spend their money has more impact on the economy than most people realize. What consumers buy matters a great deal. When looking at the policies flowing out of Washington it is clear many politicians seem to have no idea that all consumer spending and purchases are not created equal. Certain purchases result in money bouncing around a community sparking future economic growth which enriches everyone. Other purchases simply give the money wings allowing it to exit not only the community but often the country.
Many of our economic problems stem from the many consumers out there making poor decisions. This includes things such as paying too much for a car they cannot afford or maintain.These automobiles generally do not last long and often get put on a hook. The least responsible consumers tend not to fulfill obligations due but to take on new debt and squander every penny they can lay their hands on. Online shopping and companies such as Amazon are like heroin to an addict when it comes to promoting spending that destroys real economic strength. More…
Meet BlackRock, the New Great Vampire Squid, “Global Financial Giant”
By Ellen Brown
Posted July 23, 2020
BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve. The fate of a large portion of the country’s corporations has been put in the hands of a megalithic private entity with the private capitalist mandate to make as much money as possible for its owners and investors; and that is what it has proceeded to do.
BlackRock got a bailout with no debate in Congress, no “penalty” interest rate of the sort imposed on states and cities borrowing in the Fed’s Municipal Liquidity Facility, no complicated paperwork or waiting in line for scarce Small Business Administration loans, no strings attached. It just quietly bailed itself out.
It might be argued that this bailout was good and necessary, since the market was saved from a disastrous “doom loop,” and so were the pension funds and the savings of millions of investors. Although BlackRock has a controlling interest in all the major corporations in the S&P 500, it professes not to “own” the funds. It just acts as a kind of “custodian” for its investors — or so it claims. More…
The Illusion of Control: What If Nobody’s in Charge?
by Charles Hugh Smith
Posted July 21, 2020
I submit whatever control we discern is illusory, as the dynamics unleashed by the pandemic have already escaped the control of elites. The fundamental reason the elites have lost control is that all the systems they depend on have been broken for 12 years, but were successfully papered over by doing more of what broke them in the first place. This papering over of broken systems generated an illusion of functionality: everything appeared to function as before even as dysfunction spread into every corner of every system.
As doing more of what broke the systems in the first place is failing, the illusion of functionality has been shredded. Now that the illusion of functionality has been lost, control of the narrative via institutional authority has also been lost.
The last shred of power the elites hold is the belief of the masses that the elites are still in control. That belief is dissipating, despite the shrieks and cries of the elites that they are still in control. Events are illuminating their hubris and the fractals of incompetence that are crumbling beneath their feet. More…
The Deep State Is Responsible for All Economic Turmoil
By Doug Casey
Posted July 20, 2020
The Deep State is an extremely powerful network that controls nearly everything around you. You won’t read about it in the news because it controls the news. Politicians won’t talk about it publicly. That would be like a mobster discussing murder and robbery on the six o’clock news. You could say the Deep State is hidden, but it’s only hidden in plain sight.
The Deep State is the source of every negative thing that’s happening right now. To survive the coming rough times, it’s essential for you to know what it’s all about.
The Deep State is destructive, but it’s great for the people in it. And, like any living organism, its prime directive is: Survive! It survives by indoctrinating the fiction that it’s both good and necessary. However, it’s a parasite that promotes the ridiculous notion that everyone can live at the expense of society. More…
Why a small town in Washington is printing its own currency during the pandemic
by Michael Waters
Posted July 15, 2020
Wayne Fournier was sitting in a town meeting when he had his big idea.
As the mayor of Tenino, Washington (population: 1,884), he’d watched the pandemic rake local businesses. Residents couldn’t afford groceries. Long lines snaked outside the local food bank. For more than a month, the downtown area looked almost abandoned.
To bring back the economy, Fournier needed to act. “We were talking about grants for business, microloans, trying to team up with a bunch of different banks,” he tells The Hustle. “The big concern was, ‘How do we directly help families and individuals?’”
And then it hit him: “Why not start our own currency?” More…
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