- TIME Editor Literally Admits He’s For Gov. Propaganda!
- More About Wikipedia’s Corruption
- America 2018: Dicier by the Day
- Prop Or Not – Setting Up the Atlantic Council for Lawsuits
- The Next Recession Will Be Devastatingly Non-Linear
- Stephen Cohen’s Misrepresentations About the 2014 Coup in Ukraine
- The U.S. Government’s Missing $21 Trillion — Where It Went
- Why America’s Torture-Chief Now Runs the CIA
- Will Israel Be Expelled from U.N.?
- Trump-Pompeo’s 12 Idiotic-Insulting Demands Upon Iran
- Our Economy Is Failing Our Society
- How can America’s evangelical Christians who favor Trump justify themselves?
- Sustainability Boils Down to Scale
- How Democracy Ended
- Europe: National Sovereignty versus International Conquest, at Stake over Iran
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Eric Zuesse, originally posted at strategic-culture.org
The latest report about Wikipedia’s corruption comes from the great investigative journalist Craig Murray, who had been in the UK’s Foreign Service from 1984-2004 and who was forced out in 2004 because, having been since 2002 UK’s Ambassador to Uzbekistan, he decided to whistleblow instead of to accept the corruption by his own and Uzbekistan’s Governments. Wikipedia’s article about him says that his immediately prior posting had involved participating in enforcement of the prior economic sanctions against Iraq, and “His group gave daily reports to Margaret Thatcher and John Major. In Murder in Samarkand, he describes how this experience led him to disbelieve the claims of the UK and US governments in 2002 about Iraqi WMDs.” So, his disenchantment with UK’s foreign policies seems to have grown over the years, instead of suddenly to have appeared only during the two years in which he was an Ambassador.
On May 18th, he headlined at his much-followed blog, “The Philip Cross Affair”, and reported: “133,612 edits to Wikipedia have been made in the name of ‘Philip Cross’ over 14 years. That’s over 30 edits per day, seven days a week. And I do not use that figuratively: Wikipedia edits are timed, and if you plot them, the timecard for ‘Philip Cross’s’ Wikipedia activity is astonishing … if it is one individual.”
He presents reasons to question that it’s a one-person operation, then states that,
the purpose of the “Philip Cross” operation is systematically to attack and undermine the reputations of those who are prominent in challenging the dominant corporate and state media narrative. particularly in foreign affairs. “Philip Cross” also systematically seeks to burnish the reputations of mainstream media journalists and other figures who are particularly prominent in pushing neo-con propaganda and in promoting the interests of Israel. …
“Philip Cross”‘s views happen to be precisely the same political views as those of Jimmy Wales, the founder of Wikipedia. Jimmy Wales has been on twitter the last three days being actively rude and unpleasant to anybody questioning the activities of Philip Cross. His commitment to Cross’s freedom to operate on Wikipedia would be rather more impressive if the Cross operation were not promoting Wales’ own opinions. Jimmy Wales has actively spoken against Jeremy Corbyn, supports the bombing of Syria, supports Israel, is so much of a Blairite he married Blair’s secretary, and sits on the board of [the neoconservative and neoliberal] Guardian Media Group Ltd alongside Katherine Viner.
The extreme defensiveness and surliness of Wales’ twitter responses on the “Philip Cross” operation is very revealing. Why do you think he reacts like this? Interestingly enough. Wikipedia’s UK begging arm, Wikimedia UK, joined in with equal hostile responses to anyone questioning Cross.
In response, many people sent Jimmy Wales evidence, which he ignored, while his “charity” got very upset with those questioning the Philip Cross operation.
Wikimedia had arrived uninvited into a twitter thread discussing the “Philip Cross” operation and had immediately started attacking people questioning Cross’s legitimacy. Can anybody else see anything “insulting” in my tweet?
I repeat, the coincidence of Philip Cross’s political views with those of Jimmy Wales, allied to Wales’ and Wikimedia’s immediate hostility to anybody questioning the Cross operation – without needing to look at any evidence – raises a large number of questions.
“Philip Cross” does not attempt to hide his motive or his hatred of those whose Wikipedia entries he attacks. He openly taunts them on twitter. The obvious unbalance of his edits is plain for anybody to see.
Among the hundreds of reader-comments to that article, one seems to have come from a Wikipedia-insider, and is abbreviated here:
May 18, 2018 at 18:49
… Wikipedia is a source of information, and so cannot peddle alternative theories of any kind. …[and] no doubt there is some political bias that comes into this process. If you look at the article on the Skripal’s – it is not unreasonable – almost all statements are supported by references to main stream media articles or statements from official organisations such as the Russian government, OPCW or UK authorities. This is what it has to be. (you wouldn’t seriously be suggesting that Wikipedia should have links to craigmurrary or info from RT?).
I haven’t done any scientific study of the sources that are cited in Wikipedia’s many footnotes and whether sites such as Murray’s and RT are banned from them, but this article by Murray does suggest that the bias in favor of mainstream, and against small, ‘news’media, does adhere to the pattern that’s succinctly stated by “Andrew H.” Murray presents remarkable documentary evidence that this is Wikipedia’s pattern. “Andrew H” seems to believe that it’s the right pattern to adhere to.
The present writer also has personal experience with Wikipedia that confirms the existence of this pattern. Among my several articles on that, was “How Wikipedia Lies”, in which I reported that “Smallwood,” the Wikipedia overseer on Wikipedia’s article “United Airlines Flight 93” about the 9/11 plane that came down in Pennsylvania, blocked stating in the text of the article an important fact that was documented even buried within some of the article’s own footnote sources — all coming from mainstream media — that Vice President Dick Cheney had ordered that plane to be shot down and that, therefore, the article’s (and the ’news’media’s and ‘history’ books’) common allegations that resistance on the part of heroic passengers on that plane had had something to do with the plane’s coming down when and how it did, are all false. “Smallwood” blocked me from adding to the text a mention that Cheney on the very day of 9/11 admitted that he had ordered that plane to be shot down and stated his reasons for having done so, and that the order was promptly fulfilled; and “Smallwood” refused to say why my addition of Cheney’s role was blocked, other than to say that that fact “did not appear constructive.” (He refused to say how, or why.)
Back on 8 July 2015, I had headlined, “Wikipedia As Propaganda Not History — MH17 As An Example”, and reported and documented regarding the MH17 Malaysian airliner shot down over Ukraine, that “Wikipedia articles are more propaganda than they are historical accounts. And, often, their cited sources are misleading, or even false.” The Wikipedia article on that incident was anti-Russian propaganda, not a historical account.
As I mentioned in those articles, even Britain’s own BBC had previously headlined, “Wikipedia ‘shows CIA page edits’.” What both Murray, and I (in my latest article about Wikipedia) add to that information regarding some of the people who “edit” Wikipedia, is that Wikipedia itself, in the individuals whom it hires to nix or else to accept each editorial change that is being made to a given article, actually also, in effect, writes Wikipedia articles — and that it does so consistently filtering out facts — no matter how conclusively proven to be true — that contradict the ‘news’media’s (and CIA’s) boilerplate ‘history’ of the given matter. In other words: Wikipedia is a perfect embodiment of the type of society that was described in the fictional 1949 allegorical novel, 1984.
This is the reason why I never link to a Wikipedia article unless I have independently confirmed that, regarding the fact for which I cite the given article, that article is honestly and truthfully representing that matter, or that given detail of it. I do not exclude truths that happen to be included in the standard account; but neither do I (as Wikipedia does] exclude facts which contradict the standard account.
Investigative historian Eric Zuesse is the author, most recently, of They’re Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of CHRIST’S VENTRILOQUISTS: The Event that Created Christianity.
If we look beneath the cheery chatter of the financial media and the tiresomely repetitive Russian collusion narrative (that’s unraveling as the Ministry of Propaganda’s machinations are exposed), we find that America in 2018 is dicier by the day.
The more you know about the actual functioning of critical subsystems, the keener your awareness of the system’s fragility, reliance on artifice and an unceasing flow of “free money.” Keynesian economics boils down to a very simple premise: a slowing or stagnant economy can be goosed by distributing plenty of “free money” which can be freely blown on either speculation or goods and services.
The “free money” (either created out of thin air or borrowed into existence at rates of interest so low that they’re less than zero when adjusted for inflation) dumped into speculation gooses assets higher, generating the “wealth effect” beloved by Keynesians, and the “free money” dumped into goods and services gooses consumption, tax revenues, hiring and so on.
The catch is “free money” is never actually free. Creating trillions out of thin air reduces the purchasing power of all existing currency, and pretty soon you’re following Venezuela into “our money has lost all its value” territory.
Borrow trillions into existence and at some point even ludicrously low rates of interest start piling up serious sums of interest due, and the system eventually collapses under the weight of defaults and interest payments that stripmine the economy’s productive capacity.
Every subsystem in America has compensated for structural stagnation and increasing friction by reducing redundancy and buffers. Have you noticed how many airline flights are now delayed by mechanical issues? Maybe it’s my poor luck (experiencing mechanical-related delays), but it makes me wonder if buffers and redundancy have been reduced to lower costs and maintain profits, lest the management team be fired for missing a quarterly earning target.
If you think America’s healthcare system is functioning wonderfully, you need to hear some unvarnished, frank reports from nurses and doctors who are speaking off the record. Healthcare is increasingly fragile as physicians and nurses bail out by retiring early. A destructive feedback is taking hold in rural America and other under-served “markets”: chronic shortages of physicians and nurses overload the overworked frontline care providers, burning them out as the workloads becomes impossible to manage without leaving widening cracks in care and infrastructure.
As for education: virtually every school district is screaming for more money while its budget is increasingly devoted to soaring pension contributions. The same can be said for many public agencies and institutions. The unwelcome reality is there isn’t enough money in the Universe to fund all the pension obligations and increase funding to meet the demands for more of everything– unless you just create vast sums out of thin air, in which case you follow Venezuela down the monetary black hole to the point that 1 million units of central bank/government-issued “money” equals one loaf of bread.
Public services are stripmined to meet pension obligations, and this zero-sum reality will only become more apparent as the excesses of speculation, debt, malinvestment and asset bubbles decay into the inevitable business-cycle recession–a recession that will be made worse by the issuance of more “free money,” as the increasing reliance on the marginal speculator and borrower will hasten the avalanche of defaults and malinvestments that will bring down the entire house of cards.
As the tent cities of the homeless proliferate, cities and counties are finding their revenues are devoted to pension obligations, leaving less and less to education, filling potholes, addressing the homeless crisis, the opioid crisis, etc. When the “everything bubble” pops and assets crater, the impossibility of fulfilling promises made in “good times” will be apparent to all but those demanding “their fair share.”
About that “cheap abundant energy” provided by fracking: it’s only cheap if we overlook the $250 billion in losses racked up by the sector, and it’s only abundant if we ignore the rapid depletion of the majority of wells.
We’re supposed to take Facebook’s ease in brushing off its blatant exploitation of users’ data as proof all is well in social-media-land, but the reality is sobering: America’s devotion to Facebook is evidence of the populace’s desperate yearning for a connection, any connection, no matter how thin or artificial, to a sense of community in a society stripped of authentic community by the dominance of maximizing profit (Facebook, Amazon and Google’s raison d’etre) and centralized power.
This chart of total debt reveals the system’s profound fragility–a fragility the Powers That Be are trying to mask with a tsunami of artifice: the system is now so dependent on the heroin hit of “free money” that even the slightest pause in credit growth will collapse the entire global financial system. This is why central banks have created trillions out of thin air–TINA: there is no alternative:
Between the ceaseless Ministry of Propaganda hysteria, the childish fantasy of super-hero films (we’re gonna be saved by somebody, no effort on our own behalf required) and the disgorging of zero-credibility economic statistics, the distractions are 24/7. But scrape all this putrid excrescence off and we’re left with a non-fantasy reality: everything is getting dicier by the day.
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By George Eliason, an American reporter living in Ukraine.
Preface by Washington’s Blog: Prop Or Not has defamed this website and many other respected American websites by falsely labeling them “Russian propaganda”. The owner of this website is an American citizen who was born in the US, lived in the US his whole life, and is loyal to the U.S. constitution and the national security of the United States.
We believe that it is those who would subvert American values and promote propaganda who are the traitors.
In addition, a leading cybersecurity expert has publicly said that Mr. Eliason’s research as presented in this article and previous articles does not violate the law.
Washington’s Blog does not express an opinion about whether or not the claims set forth in this article are accurate or not. Make up your own mind.
Early in 2018, I pulled back the veil Propornot hid behind and disclosed the groups behind the smear site. Propornot is a product of the Atlantic Council’s backers. It is a symptom of the ongoing Information War. People in the groups behind it are waging to destroy Press Freedom in the US by branding dissenting voices as objects of ridicule at best and enemies of the state at the worst. Below, you’ll see the results of yet another website scan, as well as circumstantial evidence showing the InterpreterMag and the Atlantic Council, are responsible for Propornot. The lawsuits are starting and because of the damage Propornot’s lists have done, will trickle down to the InterpreterMag staff, the Atlantic Council, and their backers at some point.
For those that don’t know, the Atlantic Council is brought to you by the Central and Eastern European Coalition (CEEC), the Ukrainian Congressional Committee of America (UCCA), and the Ukrainian World Congress(UWC). Between these three organizations, there is a constituency of 20 million voting ultranationalist (politically Bandera era nationalists), as well as constituencies across governments in Central and Eastern Europe today.
There are also Levant region US-based Diaspora governments including Oriental Promethean, Syrian, and Gulenite groups that often financially contribute to politicians and gain huge amounts of political backing because all the Diasporas work together in a large bloc when it suits their needs.
The long game behind all of this is to normalize extreme nationalism in the US. If they can get people on all sides of the political spectrum so divided through pure politics people demand a forced normalization, what’s offered will be the new US nationalism.
This is done continuously to develop the will and the means to provoke legal action and civil lawsuits AGAINST these same commentary and news websites that make up the Propornot blacklist. It doesn’t matter how small a deal Propornot are in reality. Propornot plagiarized their blacklist from spies for hire groups.
This same list is the handout for every war mongering, democracy-hating group in America and across the world. Whatever extraordinary means they need to use, they are determined to force offending websites to get in line or suffer a costly closedown. This latest partnership Facebook has formed with the Atlantic Council is another trial move to a forced normal where news and information are spoon fed.
This is part of a much, much, larger story that starts with Propornot and goes through InterpreterMag to their parents at the @DFRLab of the Atlantic Council. The groups that identify emerging threats and disinformation for Google are the same group members of the Atlantic Council that Facebook will employ. Google has well over $100 million invested in these groups so using them to determine Search Engine Results Pages(SERPs) is simple economics. These core groups supply the fact checking and relevance check for Google. They have the means to take a monopoly on information and deem truth to be whatever the hell they want or get paid for it to be.
All of this starts with the bottom rung at sites like Propornot. For the January article I scanned the website using Iron Wasp. It is one of the best application security scanners available today and is used by hackers and penetration testers worldwide to test for vulnerabilities of a website(web application). What this means is that within a very tiny margin of false positives, scanners like this deliver verifiable, documentable information that can be used in a court of law.
That scan could be replicated by any person, at any time. I didn’t reveal the vulnerability scanner I used because it shouldn’t matter. If more scans were done by other people using a variety of scanners, it would hammer home the fact Michael Weiss and company are the people behind Propornot everyone was looking for.
The problem remains that the natural curiosity affected parties should feel because they have been damaged is still replaced with inertia. For many news and commentary platform owners, the last few years have overloaded their senses with the shock value of being called a tool for a foreign government and having their reputations called into question or destroyed.
Instead of taking a sober and critical look by doing the scans themselves or interviewing subject matter experts, this inertia has maintained my single scan as the only one that exists publicly for Propornot. It is the only serious effort and scan I’ve been able to find. Recently, I set up an online snare that InterperterMag’s Michael Weiss, Catherine Fitzgerald, and their bit players had the choice to either step in or ignore entirely. The whole thing hinged on him and them not being as bright as I thought they were. I’m glad I didn’t bet on that. I’ll get to that in part 2.
New Scan Results for Propornot
What I didn’t say when I published the January Propornot expose was I counted on inertia setting in with damaged website owners even as I wrote the first Propornot article. Inertia has taken the level of proof from having enough confidence to sue Mikey D. Weiss and all the nationalist bastards working to reinterpret and destroy the 1st amendment and civil rights turned it into- “The alleged scans that allegedly resemble easily spoofed screenshots allegedly done by the alleged American allegedly living in Donbass….” Yeah, after four months everyone is comfortable with that one.
Needless to say, this wasn’t the only scan I did. I didn’t mention that before though, did I? I did three other scans over the last 10 months using various vulnerability scanners set very light and the results were the same. The 3rd time is the charm and 2nd and 3rd were the scans in January. The problem with Michael Weiss denying Propornot is a part of InterpreterMag is it should never have shown up on any scan in the first place. Why them?
For Propornot to come out consistently in every scan as part of InterpreterMag is outrageous. The two source rule of journalism states that two verifiable independent sources constitute a fact. This separates journalism from rumor mill news. The three source rule was developed by the Washington Post during its coverage of the contentious Watergate scandal. This verifies politically hot facts or scandalous information. How about four sources?
For this 4th scan of Propornot, I needed them to know someone was there. I used Vega. According to the InfoSec Institute, Vega is one of the top 5 web application security scanners in the world today. That means it’s a favorite tool for hackers everywhere and you can have confidence it produces evidence quality results, just like Iron Wasp did. Guess what happened?
I set the scan a little louder and was caught red-handed. Propornot canceled my scan and that was that. Or was it? The great thing about a top 5 scanner is they are very efficient. If you look at the top left underneath the web address for Propornot, who’s name do you see?
Between this scan and the January scan image, you can see three of the scans that were done. The results from all 4 scans completed are the same regarding InterpreterMag. The results from four scans show InterpreterMag in a relationship position BEFORE Propornot links to any websites listed on the webpage. This last scan was done AFTER the Atlantic Council should have tightened up the website security.
We have four separate verifiable sources stating the same obvious fact with 3 shown. Does anybody with a respectable pay grade at the Atlantic Council have any last words? This case is closed.
When the facts are tallied, I am still all for letting the courts decide because of the damage Propornot has done. And rest assured that is starting to happen. This clearly shows lawsuits against Propornot, the Atlantic Council, and the spies for hire are not only possible, but if you aren’t willing to protect yourself now, there may not be anything left to get recourse against later.
Let The Lawsuits Begin
The first large lawsuit is by three of the Netherlands larger newspapers against East StratCom for false accusations that they were spreading propaganda. The accusation published in East StratCom’s Disinfo Review was challenged and East StratCom was forced to back down. But, it didn’t back down far enough. On February 24th they changed terminology from calling the Dutch Media “disinformation outlets” to “outlet where the disinformation appeared.”The response by the newspapers and Dutch politicians says it all.
The Mreast.dk website adds “For the Dutch media TPO, which was listed for editorial coverage of a Ukraine debate, a Dutch media expert said that East StratCom and their collaborators were “a propaganda club “ with amateuristic working methods and added that “if you look at their database, There is no substructure [of facts] “ .The chief editor of the second largest newspaper in the Netherlands, General Dagblad, stated that“with East StratCom as a fake news-fighting, we did not need fake news at all” and that the best excuse for the group was that they had a “translation problem” in relative to the Dutch coverage.
Going further, A parliamentarian from the Socialist Party has demanded that the Dutch Interior Minister raise the matter and stop financing the unit, which in his opinion threatens the freedom of the press by listing coverage of a Ukraine-critical meeting as “fake news”. Therefore, East StratCom has been forced to retreat and change the labeling of their propaganda listings.” This move wasn’t enough and the lawsuit is going forward on March 14th on the grounds that “In a free society it is up to court to judge the matter , not governments or a supreme government.”
Here’s the fun part. Where does East StratCom get its list of propagandists from? Go back to the top. The people at propornot, the Hamilton 68 Dashboard including former Homeland Security Czar Michael Chertoff, Aaron Weisburd, and Clint Watts, among others are the lists providers will eventually be sued.
This lawsuit is the first of its kind that I know of. I’d love to say my previous articles were part of what’s behind it because of the timing of the lawsuits. They were filed after I started publishing this series showing what was going on and filing lawsuits is the only way for news and commentary publications to protect themselves. I feel immense satisfaction because publications are suing the European Union for labeling them Russian propaganda outlets. Many thanks to Petri Krohn for sharing the above article link.
If your news or commentary website was damaged because of Propornot, Hamilton 68, or any of the associated spies for hire like Aaron Weisburd, Joel Harding, Clint Watts, etc, you can now see that recourse isn’t just possible, it’s either you or them. Make sure it’s them.
Over the last 4 years, I’ve researched and written many stories that are still breaking in other media today. I’ve written stories from the front lines in Ukraine as well as showing snapshots of what life is like here. I broke the story about Russian trolls and what would lead to Propornot in 2015.
If you want to support investigative research with a lot of depth, please support my Patreon page. You can also support my work through PayPal as we expand in new directions over the coming year. For the last 4 years it’s been almost entirely self supportive effort which is something when you consider I live in Donbass.
This ad will reflect articles that are coming up. A lot of detailed information doesn’t make it into articles just because of the sheer volume of webpages it adds or even continuity with the current subject matter.
I’ll be adding lots of information as well as a first glimpse of work coming up as we wind our way up from Propornot to Finding Fancy Bear in the near future as well as the Mueller Probes. I will be continuing my focus on Donbass and looking into the politics in play globally.
Next up– A circumstantial evidence article tying Michael Weiss and his crew of “misfits” to Propornot. I baited the trap and waited. Of course he bit.
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Linear correlations are intuitive: if GDP declines 2% in the next recession, and employment declines 2%, we get it: the scale and size of the decline aligns. In a linear correlation, we’d expect sales to drop by about 2%, businesses closing their doors to increase by about 2%, profits to notch down by about 2%, lending contracts by around 2% and so on.
But the effects of the next recession won’t be linear–they will be non-linear, and far more devastating than whatever modest GDP decline is registered. To paraphrase William Gibson’s insightful observation that “The future is already here — it’s just not very evenly distributed”: the recession is already here, it’s just not evenly distributed– and its effects will be enormously asymmetric.
Non-linear effects can be extremely asymmetric. Thus an apparently mild decline of 2% in GDP might trigger a 50% rise in the number of small businesses closing, a 50% collapse in new mortgages issued and a 10% increase in unemployment.
Richard Bonugli of Financial Repression Authority alerted me to the non-linear dynamic of the coming slowdown. I recently recorded a podcast with Richard on one sector that will cascade in a series of non-linear avalanches once the current asset bubbles pop and the current central-bank-created “recovery” falters under its staggering weight of debt, malinvestment and speculative excess.
The Intensifying Pension Crisis (37-minute podcast)
The core dynamic of the next recession is the unwind of all the extremes:extremes in debt expansion, in leverage, in the explosion of debt taken on by marginal borrowers, in malinvestment, in debt-fueled speculation, in emerging market debt denominated in US dollars, in financial repression, in political corruption–the list of extremes that have stretched the system to the breaking point is almost endless.
Public-sector pensions are just the tip of the iceberg. What happens when the gains in equities and bonds that have nurtured the illusion that public-sector pension funds are solvent and can be funded by further tax increases reverse into losses?
Pushing taxes high enough to fund soaring public pension obligations will spark taxpayer revolts as the tax increases will be monumental once the delusion of solvency is stripped away in the upcoming recession.
The entire status quo rests on the marginal borrower/buyer. All the demand for pretty much anything has been brought forward by the central banks’ repression of interest rates and the relentless goosing of liquidity: anyone who can fog a mirror can buy a vehicle on credit, get a mortgage guaranteed by a federal agency, or pile up credit card and student loan debts.
Those with stock portfolios can gamble with margin debt; those with access to central bank credit can borrow billions to fund stock buy-backs or the purchase of competitors, the better to establish a cartel or quasi-monopoly.
What’s not visible in all the cheery statistics is how many enterprises and households are barely keeping their heads above water as inflation shreds the purchasing power of their net incomes. Inflation is supposedly tame, but once again, following Gibson’s aphorism, inflation is already here, it’s just not evenly distributed.
While employees with employer-paid health insurance are dumbstruck by $50 or $100 increases in their monthly co-pays, those of us who are paying the unsubsidized “real cost of health insurance” are being crushed by increases in the hundreds of dollars per month.
The number of cafes, restaurants and other small businesses with high fixed costs that will close as soon as sales falter is monumental. Add up soaring healthcare premiums, increases in minimum wages, higher taxes and junk fees and rising rents, and you have a steadily expanding burden that is absolutely toxic to small businesses.
The first things to go are marginal employees, overtime, bonuses, benefits, etc.–whatever can be jettisoned in a last-ditch effort to save the company from insolvency. The first bills cash-strapped households will stop paying are credit cards, auto loans and student loans; defaults won’t notch higher by 2%; they’re going to explode higher by 20% and accelerate from there.
Here are a few charts that reveal the extremes that have been reached to maintain the illusion of “recovery” and normalcy: total credit has exploded higher, after a slight decline very nearly brought down the global financial system in 2008-09:
The massive expansion of assets purchased by central banks will eventually be slowed or even unwound, removing the rocket fuel that’s pushed stocks and bonds to the moon:
As governments/central banks borrow/print “money” in increasingly fantastic quantities to keep the illusion of “recovery” alive, the currencies being debauched lose purchasing power. Venezuela is not an outlier; it is the first of many canaries that will be keeling over in the coal mine.
Wide swaths of the economy won’t even notice the recession devastating the rest of the economy, at least at first. Public employees will be immune until their city, county, state or agency runs out of money and can no longer fund its obligations; shareholders of Facebook et al. who cashed out at the top will be doing just fine, booking their $18,000 a night island get-aways, and those few willing to bet on declines in the “everything bubbles” of real estate, stocks and bonds will eventually do well, though the Powers That Be will engineer massive short-covering rallies in a last-ditch effort to mask the systemic rot.
The acceleration of non-linear consequences will surprise the brainwashed, loving-their-servitude mainstream media. The number of small businesses that suddenly close will surprise them; the number of homeowners jingle-mailing their “ownership” (i.e. obligation to pay soaring property taxes) to lenders will surprise them; the number of employees being laid off will surprise them, and the collapse of new credit being issued will surprise them.
Don’t be surprised; be prepared.
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