Death toll from the COVID-19 virus relative to other historic pandemics all the way back to Roman times.
Black Death is still the winner – hands down.
Courtesy of Visual Capitalist: https://www.visualcapitalist.com/history-of-pandemics-deadliest/
My old professor, Murray Rothbard, explained the dynamics decades ago:
“The first people to get the new money are the counterfeiters, which they use to buy various goods and services. The second receivers of the new money are the retailers who sell those goods to the counterfeiters. And on and on the new money ripples out through the system, going from one pocket or till to another. As it does so, there is an immediate redistribution effect. For first the counterfeiters, then the retailers, etc. have new money and monetary income they use to bid up goods and services, increasing their demand and raising the prices of the goods that they purchase. But as prices of goods begin to rise in response to the higher quantity of money, those who haven’t yet received the new money find the prices of the goods they buy have gone up, while their own selling prices or incomes have not risen. In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.”
Now decades later, Charles Hugh Smith summarizes the damage done:
“Of the many things we cannot bring ourselves to admit, one of the most consequential is that our vaunted middle class is illusory, a phantom of our imagination rather than a reality. The reality is the vast majority of the nation’s wealth and income has been diverted from the middle class to those at the pinnacle of the wealth-power pyramid and the technocrat / financier insider class (the top 10%) that serves the interests of those at the pinnacle.
“This transfer has accelerated rapidly in the 21st century as virtually all the real income gains of the past 20 years have flowed to the top 0.1%. This RAND study found that America’s elites siphoned $50 trillion into their own pockets in the past two generations: Trends in Income From 1975 to 2018. (Please look at the “Fruits of Financialization” chart below.)
“The earnings of the top 0.1% grew 15 times faster than the earnings of the bottom 90% (See chart below) as wages’ share of the economy continues its 50-year decline.”
This process accelerated when Nixon closed the gold window in 1973 in order to play the Keynesian card of deficit spending.
Deficit spending gave us trade deficits process accelerated under Clinton. Since China entered the WTO, the US bleedout went ballistic.
And now that we have “la famiglia criminale Biden” running the executive branch – literally, business partners of the Red Ponzi and owned by financial elites – while socialists run Congress, we know this ends only one way – more financialization, more deficits, and more rewards to the plutocracy.
Here is Charles Hughes Smith: http://charleshughsmith.blogspot.com/2020/12/our-phantom-middle-class.html
Ironic that John le Carre passed last week. Let’s revisit some dialog from the epic screenplay for his “Tinker, Tailor, Soldier, Spy”:
CONTROL: "Shut up, Esterhase."
Control waves him down. Smiley considers the report
dispassionately.
SMILEY: "If it's genuine it's gold-dust.(Beat) But its topicality makes it suspect."
Control turns to Alleline, with a mocking smile.
CONTROL: "Smiley is suspicious, Percy. Smells a fake."
SMILEY: "Where does it come from? What's the access?
CONTROL: "Percy doesn't feel like telling.
Percy packs his pipe, enjoys the moment - the young lion
challenging the old.
PERCY ALLELINE: "A new secret source of mine."
SMILEY: "But how could he possibly have access to...?"
PERCY ALLELINE: "He has access to the most sensitive levels of policy making."
Smiley stares at him, staggered. If it's true, this is the jackpot. Alleline enjoys his amazement, he leans over - points with bureaucratic pride to the FLAMES on the LETTER HEAD.
PERCY ALLELINE: "We have named the operation 'Witchcraft.'"
SMILEY" (Faintly) "We?"
CONTROL: "Percy and his pals have bypassed us, Smiley. Gone straight to the Minister. Everyone's very excited. Percy's to be allowed to keep the identity of his new friend top secret.
Of course, Christopher Steele wasn’t a character in Tinker Tailor. Unless he was Percy. I would think more likely Haydon.
In any case, here we are again – Russia! Russia! Russia!
Tom Luongo:
“This cyber attack on the U.S. government was perfectly timed with the Electoral College submitting its votes to the Congress and Joe Biden claiming he’s president-elect.
“The reason why the release of this ‘attack’ on our government was perfectly timed is because it is a distraction from the growing unrest over the Democrats’ having stolen the election and cowering the courts into irrelevance.
“This is classic CIA-level misdirection from what was more likely a Chinese or, dare I say it, homegrown operation for the very purpose of blaming the Russians to tamp down the anger and confuse the MAGA crowd.”
From the Blog:
“Today IBM is unveiling a new milestone bringing to light work more than 15 years in the making between IBM researchers and Fujifilm. Together, we have set yet another new world record in tape storage – our sixth since 2006. Pushing the limits, we achieved 317 GB/in2 (gigabits per square inch) in areal density on a prototype strontium ferrite (SrFe) particulate magnetic tape developed by Fujifilm. This is approximately 27 times more than the areal density used in current state-of-the-art commercial tape drives.”
https://www.ibm.com/blogs/research/2020/12/tape-density-record/
A sample of Chris’s points before you read the article:
“Those that have thrived are unsurprisingly the very same clutch of folks that are your buddies from Davos. Enormous corporations that benefit from the tyrannical lockdowns. It comes as no surprise that Bezos’ Amazon, Zuckerberg’s Facebook and Dorsey’s Twitter have all sucked up more power, influence, and market share while SMEs have been squashed by — again — policy and not the virus. Amazingly you’ve the gall to talk about equality while ensuring all of this takes place. And then there’s your buddy, [Lord] Bill [Gates].
To quote Thomas Sowell: “It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.”
How China’s ‘Army of Paid Internet Trolls’ helped censor COVID-19.
It’s not enough to offer Xi what he would take anyway.
Global debasement of fiat currencies means steadily rising gold, silver, and BTC continue to rise despite stalling recovery.
Continuing monetary stimulus and suppressed rates mean less confidence fiat currencies will return to past glory.
Von Mises (1966):
“Economics recommends neither inflationary nor deflationary policy. It does not urge the governments to tamper with the market’s choice of a medium of exchange. It establishes only the following truths:
Von Mises, L. (1966). Human action: A treatise on economics.
With FANG snapping to the Fibonacci, Pacific-Atlantic rejoices the crushing of the Ungovernables.
Top Contributors, federal election data for Joe Biden, 2020 cycle
totals include subsidiaries and affiliates.
Contributor Total
Bloomberg LP [Michael Bloomberg] $56,796,137
Future Forward USA [largely Dustin Moskowitz] $29,917,229
Priorities USA/Priorities USA Action [Hillary backers] $25,841,199
Asana [Moskowitz & Rosenstein] $21,937,902
Sixteen Thirty Fund [dark money] $19,874,655
Democracy PAC [George Soros] $19,000,000
Senate Majority PAC [Democratic billionaires] $12,371,874
American Bridge 21st Century [largely Soros] $10,260,573
Paloma Partners [Donald Sussman] $9,016,248
Euclidean Capital [James Simons] $7,006,805
——
The 11th-largest (which will now be shown) happens to be not Democratic billionaires but Republican billionaires. However, Michael Bloomberg, the former Republican Mayor of NYC, was Biden’s largest donor, and therefore could also be considered to be a Republican donor to Biden’s campaign.
Defending Democracy Together [Republican billionaires] $6,776,862
Econophysics2020