Category: US Politics

Authored by Michael Snyder via The Economic Collapse blog,

They are assuring us that we don’t have to be concerned about “inflation” because they have everything under control.  Do you believe them?  The value of the U.S. dollar has been steadily declining for a long time, and most Americans have grown accustomed to having the cost of living rise at a faster pace than their paychecks do.  But over the past 12 months an enormous paradigm shift has begun.  Instead of devaluing our currency a little bit at a time, now our leaders are going “full Weimar”.  Our money supply is growing at an exponential rate, and this is becoming a major national crisis.  As I pointed out yesterday, it took from the founding of our county all the way to 2020 for M1 to reach 4 trillion dollars.  But then from the start of the pandemic to today, M1 has gone from 4 trillion dollars to 18 trillion dollars.  To call that “economic malpractice” would be way too kind.  The truth is that it is complete and utter lunacy, and we are all going to literally pay the price for such madness.

Sadly, inflation is already starting to show up in a major way all throughout our economy.

For example, most Americans have noticed that the price of gasoline has really started to shoot up over the last several weeks…

Gas prices have been increasing at the pump for the past few weeks, reaching a national average of $2.77 a gallon as of Monday, which is 39 cents higher than the same time in 2020, according to AAA.

A lot of people are alarmed by this, but the Federal Reserve insists that this is completely normal.

Meanwhile, the price of agricultural commodities has risen by 50 percent over the past year…

The price of agricultural commodities traded on the global stage has shot up by 50 percent since the middle of 2020, according to economists at Rabobank.

In a new report, the bank pins the lift in the price of wheat, corn, soy, sugar, and a range of other commodities on the northern La Niña, a weakening US currency, market speculators, and rising demand from importing nations.

As those prices are passed along to the consumer, you will be paying more for groceries at your local supermarket, but authorities assure us that prices will stabilize once the economy returns to “normal”.

The good news is that at least the price of food is not rising as fast as the price of lumber is…

Lumber prices have increased more than 180 percent since last spring, and this price spike has caused the price of an average new single-family home to increase by $24,386 since April 17, 2020, according to the NAHB standard estimates of lumber used to build the average home.

Now that is some serious inflation!

There are so many people that have had to put their plans to build a home on hold in recent months because the price of lumber has gotten so ridiculously high.

But the experts at the Fed insist that those that are warning of hyperinflation just have wild imaginations.

Over the course of the past year, our leaders have pumped trillions and trillions and trillions of dollars into the system, and all of that money has to go somewhere.

In such a highly inflationary environment, this sort of a thing can happen…

A digital collage by American artist Beeple which exists only as a JPG file sold Thursday for a record $69.3 million at Christie’s, fetching more money than physical works by many better-known artists.

‘Everydays: The First 5,000 Days’ became the most expensive ever ‘non-fungible token’ (NFT) – a collectible digital asset that uses blockchain technology to turn virtual work into a unique item – after being listed at the start of the two-week auction for only $100.

The U.S. dollar is being transformed into “toilet paper money”, and we are rapidly approaching the point of no return.

At least if our paychecks were rising as fast as the cost of living was, American families would be able to keep up with the escalating prices.

But of course that is not happening, and more Americans are falling out of the middle class with each passing day.

In fact, vast numbers of formerly middle class Americans no longer have jobs at all.  Last week another 712,000 Americans filed new claims for unemployment benefits, and the number of claims continues to hover around “four times the typical pre-crisis level”…

Weekly jobless claims have remained stubbornly high for months, hovering around four times the typical pre-crisis level, although it’s well below the peak of almost 7 million that was reached when stay-at-home orders were first issued a year ago in March.

There are roughly 10 million fewer jobs than there were last year in February before the crisis began.

This is not what an “economic recovery” looks like.

The truth is that the U.S. economy is broken, and the only solution our leaders have is to print, borrow and spend even more money.

Now Biden and his minions are about to pump another 1.9 trillion dollars into the system.

Do you think that will make the inflation crisis better or do you think that it will make it worse?

You don’t need to answer, because the answer is self-evident.

As prices soar into the stratosphere, life is going to become increasingly difficult for most Americans.

If your income does not rise as fast as prices are going up, your standard of living will go down.

Of course you will be far from alone.  The vast majority of Americans are about to experience a dramatic shift in the standard of living, and most of the population doesn’t even realize what is happening.

All they know is that more government checks are on the way, and most of them are absolutely thrilled about that.

But all of this printing, borrowing and spending has put us on a path to national financial suicide.

As we continue to recklessly destroy the value of our currency, other nations will begin to realize that a move to a different reserve currency is needed.

And once the U.S. dollar is no longer the reserve currency of the world, there will never be any going back to the “good old days”.

We are so close to the economic endgame, and the word “collapse” is not nearly strong enough to describe what is eventually going to happen to us.

*  *  *

Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.

Authored by Adam Andrzejewski via RealClearPolicy (emphasis ours)

In 2019, we highlighted a tripling in reported human waste in the public way. Citizens filed 10,644 complaints in 2014 and the number of complaints escalated to 30,996 cases by 2019.

Our auditors mapped 118,352 case reports of human waste on city streets – from 2011 to 2019.

Certainly, the poop was deep in San Francisco, but then things really hit the fan.

And the FBI stepped in.

Mohammed Nuru, the public works director and self-titled @MrCleanSF, was in charge of keeping city streets clean and oversaw a $500 million budget. He was indicted by the Department of Justice (DOJ) in 2020. 

Nuru was charged with one count of alleged public corruption and is innocent until proven guilty. “The complaint describes a web of corruption involving bribery, kickbacks, and side deals by one of San Francisco’s highest-ranking city employees,” said U.S. Attorney David L. Anderson. “The public is entitled to honest work from public officials, free from manipulation for the official’s own personal benefit and profit.”

Nuru was well paid in his futile attempt to keep San Francisco streets clean. His total taxpayer-funded cash compensation in 2019 was $380,120, and his base salary had jumped by $65,000 over eight years. Our auditors at OpenTheBooks.com compiled Nuru’s pay based on Freedom of Information Act requests filed with the City of San Francisco.

Currently, the federal investigation that snared Nuru has charged nine people with one already sentenced.

It seems the streets might not be the only thing dirty in the Bay Area.

The #WasteOfTheDay is presented by the forensic auditors at OpenTheBooks.com.

Authored by Matt Taibbi via TK News

I collect Soviet newspapers. Years ago, I used to travel to Moscow’s Izmailovsky flea market every few weeks, hooking up with a dealer who crisscrossed the country digging up front pages from the Cold War era. I have Izvestia’s celebration of Gagarin’s flight, a Pravda account of a 1938 show trial, even an ancient copy of Ogonyek with Trotsky on the cover that someone must have taken a risk to keep.

These relics, with dramatic block fonts and red highlights, are cool pieces of history. Not so cool: the writing! Soviet newspapers were wrought with such anvil shamelessness that it’s difficult to imagine anyone ever read them without laughing. A good Soviet could write almost any Pravda headline in advance. What else but “A Mighty Demonstration of the Union of the Party and the People” fit the day after Supreme Soviet elections? What news could come from the Spanish civil war but “Success of the Republican Fleet?” Who could earn an obit headline but a “Faithful Son of the Party”?

Reality in Soviet news was 100% binary, with all people either heroes or villains, and the villains all in league with one another (an SR was no better than a fascist or a “Right-Trotskyite Bandit,” a kind of proto-horseshoe theory). Other ideas were not represented, except to be attacked and deconstructed. Also, since anything good was all good, politicians were not described as people at all but paragons of limitless virtue — 95% of most issues of Pravda or Izvestia were just names of party leaders surrounded by lists of applause-words, like “glittering,” “full-hearted,” “wise,” “mighty,” “courageous,” “in complete moral-political union with the people,” etc.

Some of the headlines in the U.S. press lately sound suspiciously like this kind of work:

— Biden stimulus showers money on Americans, sharply cutting poverty

— Champion of the middle class comes to the aid of the poor

— Biden’s historic victory for America

The most Soviet of the recent efforts didn’t have a classically Soviet headline. “Comedians are struggling to parody Biden. Let’s hope this doesn’t last,” read the Washington Post opinion piece by Richard Zoglin, arguing that Biden is the first president in generations who might be “impervious to impressionists.” Zoglin contended Biden is “impregnable” to parody, his voice being too “devoid of obvious quirks,” his manner too “muted and self-effacing” to offer comedians much to work with. He was talking about this person:

Forget that the “impregnable to parody” pol spent the last campaign year jamming fingers in the sternums of voters, challenging them to pushup contests, calling them “lying dog-faced pony soldiers,” and forgetting what state he was in. Biden, on the day Zoglin ran his piece, couldn’t remember the name of his Defense Secretary Lloyd Austin, and referred to the Department of Defense as “that outfit over there”:

It doesn’t take much looking to find comedians like James Adomian and Anthony Atamaniuk ab-libbing riffs on Biden with ease. He checks almost every box as a comic subject, saying inappropriate things, engaging in wacky Inspector Clouseau-style physical stunts (like biting his wife’s finger), and switching back and forth between outbursts of splenetic certainty and total cluelessness. The parody doesn’t even have to be mean — you could make it endearing cluelessness. But to say nothing’s there to work with is bananas.

The first 50 days of Biden’s administration have been a surprise on multiple fronts. The breadth of his stimulus suggests a real change from the Obama years, while hints that this administration wants to pick a unionization fight with Amazon go against every tendency of Clintonian politics. But it’s hard to know what much of it means, because coverage of Biden increasingly resembles official press releases, often featuring embarrassing, Soviet-style contortions.

When Biden decided not to punish Saudi Prince Mohammed bin Salman for the murder of Washington Post writer Jamal Khashoggi on the grounds that the “cost” of “breaching the relationship with one of America’s key Arab allies” was too high, the New York Times headline read: “Biden Won’t Penalize Saudi Crown Prince Over Khashoggi’s Killing, Fearing Relations Breach.” When Donald Trump made the same calculation, saying he couldn’t cut ties because “the world is a very dangerous place” and “our relationship is with the Kingdom of Saudi Arabia,” the paper joined most of the rest of the press corps in howling in outrage.

“In Extraordinary Statement, Trump Stands With Saudis Despite Khashoggi Killing.” was the Times headline, in a piece that said Trump’s decision was “a stark distillation of the Trump worldview: remorselessly transactional, heedless of the facts, determined to put America’s interests first, and founded on a theory of moral equivalence.” The paper noted, “Even Mr. Trump’s staunchest allies on Capitol Hill expressed revulsion.”

This week, in its “Crusader for the Poor” piece, the Times described Biden’s identical bin Salman decision as mere evidence that he remains “in the cautious middle” in his foreign policy. The paper previously had David Sanger dig up a quote from former Middle East negotiator Dennis Ross, who “applauded Mr. Biden for ‘trying to thread the needle here… This is the classic example of where you have to balance your values and your interests.’” It’s two opposite takes on exactly the same thing.

The old con of the Manufacturing Consent era of media was a phony show of bipartisanship. Legitimate opinion was depicted as a spectrum stretching all the way from “moderate” Democrats (often depicted as more correct on social issues) to “moderate” Republicans (whose views on the economy or war were often depicted as more realistic). That propaganda trick involved constantly narrowing the debate to a little slice of the Venn diagram between two established parties. Did we need to invade Iraq right away to stay safe, as Republicans contended, or should we wait until inspectors finished their work and then invade, as Democrats insisted?

The new, cleaved media landscape advances the same tiny intersection of elite opinion, except in the post-Trump era, that strip fits inside one party. Instead of appearing as props in a phony rendering of objectivity, Republicans in basically all non-Fox media have been moved off the legitimacy spectrum, and appear as foils only. Allowable opinion is now depicted stretching all the way from one brand of “moderate” Democrat to another.

An example is the Thursday New York Times story, “As Economy Is Poised to Soar, Some Fear a Surge in Inflation.” It’s essentially an interview with JP Morgan Chase CEO Jamie Dimon, who’s worried about the inflationary impact of the latest Covid-19 rescue (“The question is: Does [it] overheat everything?”), followed by quotes from Fed chair Jerome Powell insisting that no, everything is cool. This is the same Larry Summers vs. Janet Yellen debate that’s been going on for weeks, and it represents the sum total of allowable economic opinions about the current rescue, stretching all the way from “it’s awesome” to “it’s admirable but risky.”

This format isn’t all that different from the one we had before, except in one respect: without the superficial requirement to tend to a two-party balance, the hagiography in big media organizations flies out of control. These companies already tend to wash out people who are too contentious or anti-establishment in their leanings. Promoted instead, as even Noam Chomsky described a generation ago, are people with the digestive systems of jackals or monitor lizards, who can swallow even the most toxic piles of official nonsense without blinking. Still, those reporters once had to at least pretend to be something other than courtiers, as it was considered unseemly to openly gush about a party or a politician.

Now? Look at the Times feature story on Biden’s pandemic relief bill:

On Friday, “Scranton Joe” Biden, whose five-decade political identity has been largely shaped by his appeal to union workers and blue-collar tradesmen like those from his Pennsylvania hometown, will sign into law a $1.9 trillion spending plan that includes the biggest antipoverty effort in a generation…

The new role as a crusader for the poor represents an evolution for Mr. Biden, who spent much of his 36 years in Congress concentrating on foreign policy, judicial fights, gun control, and criminal justice issues… Aides say he has embraced his new role… [and] has also been moved by the inequities in pain and suffering that the pandemic has inflicted on the poorest Americans…

You’d never know from reading this that Biden’s actual rep on criminal justice issues involved boasting about authoring an infamous crime bill (that did “everything but hang people for jaywalking”), or that he’s long been a voracious devourer of corporate and especially financial services industry cash, that his “Scranton Joe” rep has been belied by a decidedly mixed history on unions, and so on. Can he legitimately claim to be more pro-union than his predecessor? Sure, but a news story that paints the Biden experience as stretching from “hero to the middle class” to “hero to the poor,” is a Pravda-level stroke job.

We now know in advance that every Biden address will be reviewed as historic and exceptional. It was a mild shock to see Chris Wallace say Biden’s was the "the best inaugural address I have ever heard.” More predictable was Politico saying of Thursday night’s address that “it is hard to imagine any other contemporary politician making the speech Biden did… channeling our collective sorrow and reminding us that there is life after grief.” (Really? Hard to imagine any contemporary politician doing that?).

This stuff is relatively harmless. Where it gets weird is that the move to turn the bulk of the corporate press in the “moral clarity” era into a single party organ has come accompanied by purges of the politically unfit. In the seemingly endless parade of in-house investigations of journalists, paper after paper has borrowed from the Soviet style of printing judgments and self-denunciations, without explaining the actual crimes.

The New York Times coverage of the recent staff revolt at Teen Vogue against editor Alexi McCammond noted “Staff Members Condemn Editor’s Decade-Old, Racist Tweets,” but declined to actually publish the offending texts, so readers might judge for themselves. The Daily Beast expose on Times reporter Donald McNeil did much the same thing. Even the ongoing (and in my mind, ridiculous) moral panic over Substack ties in. Aimed at people already banished from mainstream media, the obvious message is that anyone with even mildly heterodox opinions shouldn’t be publishing anywhere.

Those still clinging to mainstream jobs in a business that continues to lay people off at an extraordinary rate read the gist of all of these stories clearly: if you want to keep picking up a check, you’d better talk the right talk.

Thus you see bizarre transformations like that of David Brooks, who spent his career penning paeans to “personal responsibility” and the “culture of thrift,” but is now writing stories about how “Joe Biden is a transformational president” for casting aside fiscal restraints in the massive Covid-19 bill. When explaining that “both parties are adjusting to the new paradigm,” he’s really explaining his own transformation, in a piece that reads like a political confession. “I’m worried about a world in which we spend borrowed money with abandon,” he says, but “income inequality, widespread child poverty, and economic precarity are the problems of our time.”

Maybe Brooks is experiencing the same “evolution” Biden is being credited with of late. Or, he’s like a lot of people in the press who are searching out the safest places on the op-ed page, the middle of the newsroom middle, in desperate efforts to stay on the masthead. It’s been made clear that there’s no such thing as overdoing it in one direction, e.g. if you write as the Times did that Biden “has become a steady hand who chooses words with extraordinary restraint” (which even those who like and admire Biden must grasp is not remotely true of the legendary loose cannon). Meanwhile, how many open critics of the Party on either the left, the right, or anywhere in between still have traditional media jobs?

All of this has created an atmosphere where even obvious observations that once would have interested blue-state voters, like that Biden’s pandemic relief bill “does not establish a single significant new social program,” can only be found in publications like the World Socialist Web Site. The bulk of the rest of the landscape has become homogenous and as predictably sycophantic as Fox in the “Mission Accomplished” years, maybe even worse. What is this all going to look like in four years?