The “Trade Deal”: A Pathetic Parody, Credibility Squandered

Anyone who thinks this bogus “deal” has resolved any of the issues or uncertainties deserves to be fired immediately. Here’s a late-night TV parody of a trade deal: The agreement won’t be signed by both parties, though each might sign their own version of it, and the terms of the deal […]

Why “This Sucker Is Going Down”

Once the contagion starts spreading, loose money won’t put the fires out. As the nation’s political and economic leaders struggled to contain the 2008 financial meltdown, President George W. Bush famously summed the situation up: “If money doesn’t loosen up, this sucker will go down.” Eleven years into the loose money recovery, this sucker […]

The Taxonomy of Collapse

The higher up the wealth-power pyramid the observer is, the more prone they are to a magical-thinking belief that the empire is forever, even as it is crumbling around them. How great nations and empires arise, mature, decay and collapse has long been of interest for a self-evident reason: if we […]

Suppressing Dissent Guarantees Disorder and Collapse

The frantic efforts of am exploitive elite to eliminate dissent only accelerates the regime’s path to collapse. Regimes that are losing public support always make the same mistake: rather than fix the source of the loss of public trust–the few enriching themselves at the expense of the many– the regime reckons the […]

Costs Are Spiraling Out of Control

And how do we pay for these spiraling out of control costs? By borrowing more, of course. If we had to choose one “big picture” reason why the vast majority of households are losing ground, it would be: the costs of essentials are spiraling out of control. I’ve often covered […]

Crunchtime: When Events Outrun Plan B

Not only will events outrun Plan B, they’ll also outrun Plans C and D. We all know what Plan B is: our pre-planned response to the emergence of risk. Plan B is for risks that can be anticipated, regular but unpredictable events such tornadoes, earthquakes, hurricanes, etc. In the human sphere, risks that can […]

Could America Survive a Truth Commission?

A nation that’s no longer capable of naming names and reporting what actually happened richly deserves an economic and political collapse to match its moral collapse. You’ve probably heard of the Truth Commissions held in disastrously corrupt and oppressive regimes after the sociopath/kleptocrat Oligarchs are deposed. The goal is not revenge, as well-deserved […]

A China Trade Deal Just Finalizes the Divorce

Each party will continue to extract whatever benefits they can from the other, but the leaving is already well underway. Beneath the euphoric hoopla of a trade deal with China is the cold reality that the divorce has already happened and any trade deal just signs the decree. The divorce of […]

Thanksgiving 2019: A Few Things I’m Grateful For

Gratitude as medicinal balm–a little goes a long way. Of the many things I’m grateful for, the most important are: after 50 years of work I still have my health and more work than I know what to do with; good friends; family; freedom, opportunity, the good fortune that a very […]

We Can Only Choose One: Our National Economy or Globalization

The servitude of society to a globalized economy is generating extremes of insecurity, powerlessness and inequality. Does our economy serve our society, or does our society serve our economy, and by extension, those few who extract most of the economic benefits? It’s a question worth asking, as beneath the political churn […]

Darn, This Is Inconvenient: Apple Is Destroying the Planet to Maximize Profits

Stripmining the planet to maximize profits isn’t progressive or renewable–it’s just exploitive and destructive. How do we describe the finding that the planet’s most widely-owned super-corporation is destroying the planet to maximize its smartphone sales and profits? Shall we start with “inconvenient?” Yes, we’re talking about Apple, famous for coercing customers […]

The Hollowing Out of America

Here is hollowed-out America, an economy of ever-greater financial wealth piling up in the hands of the few while tens of millions of wage-earners can’t afford what was available to everyone, even the working class, in previous eras. America is being hollowed out, but since we don’t measure what actually […]

What’s Been Normalized? Nothing Good or Positive

What’s been normalized are policies and cultural norms that seek to enrich and protect the few at the expense of the many. When the initially extraordinary fades into the unremarkable background of everyday life, we say it’s been normalized. Put another way, we quickly habituate to new conditions, and rationalize our ready acceptance of […]

Political and Social Conflict Is Accelerating: Here’s Why

All the status quo “fixes” only hasten the collapse of the status quo. That economic, social and political conflict is accelerating is self-evident. What’s open to debate are the core drivers of conflict / disorder /unraveling. Here’s the core self-reinforcing dynamic in my view: 1. The status quo elites can no […]

If Not-QE Is QE, then is Not-a-Blowoff-Top a Blowoff Top?

Can $300 billion, or $600 billion, or even $1 trillion continue to prop up an increasingly risk-riddled, fragile $330 trillion global bubble in overvalued assets? When is “Not-QE” QE? When Federal Reserve Chairperson Jerome Powell declares QE is not QE. We can constructively recall the story that Abraham Lincoln famously recounted in […]

Medicare-for-All “Socialism” Is Just Another Racket

The entire system of health needs to be re-organized from the ground up, and funding the rackets will only speed the collapse of the system. The core problem with “socialist” proposals such as Medicare-for-All is that they don’t actually fix what’s broken–they just expand existing rackets such as the healthcare/sickcare racket, […]

Corporate America Is an Anti-Social Black Plague: Negative Network Effects Run Amok

The anti-social carnage unleashed by Corporate America’s “lock-in” / negative network effects has no real limits. Here’s the U.S.economy in a nutshell: Corporate America is an anti-social Black Plague, gorging on cartel-monopoly profits reaped from negative network effects running amok, enriching the few at the expense of the many and concentrating political power […]

Stock Market Cheerleading: Why Do We Celebrate the Super-Rich Getting Richer?

It’s not too difficult to predict a political rebellion against the machinery of soaring wealth and income inequality. The one constant across the media-political spectrum is an unblinking focus on the stock market as a barometer of the national economy: every major media outlet from the New York Times to Fox […]

Now That We’ve Incentivized Sociopaths–Guess What Happens Next

As long as central banks create and distribute trillions in conscience-free credit to conscience-free financiers and corporations, the incentives for sociopathy only increase. “Sociopath” is a word we now encounter regularly in the mainstream media, but what does it mean? Here is a list of 16 traits, many of which are […]

No Recession Ever Again? The Yellowstone Analogy

Just as forestry management’s policy of suppressing forest fires insured uncontrollable conflagrations, so central banks’ attempts to eliminate recessions insure a financial conflagration that will burn down the entire global financial system. The first task of those at the levers of neoliberal global capitalism is to deny that global capitalism […]