The US has become a banana republic without the bananas. The practical importance: shouldn’t its capital assets — its stocks and bonds, primarily — be marked down to banana republic levels?
Beyond Reckoning
As an indicator of real wealth, happiness, or progress, GDP is worthless. All you have to do to raise GDP is to invite in more immigrants. As each one buses and schleps, total output goes up.
The Real Secret of Government
The murders got the world’s attention. Hardly noticed was the economy…because, after the communist takeover, it disappeared. You could not say ‘the economy declined.’ There was no economy.
Until the Pips Squeak
One major consequence of diddling rates to the downside is that debt builds up…which will eventually cause a debt crisis and make it impossible to pay for the free stuff politicians promised.
No Safety, No Surprise
Both parties now accept deficits. Both approve of more debt…and of diddling interest rates to make it easier to borrow. Both now offer the voters ‘something for nothing.’
Something for Nothing, Again
Every ‘something for nothing’ government program is actually a transfer program. The feds produce no wealth. They merely take it from some people and give it to another.
Into the Fire
Measured in gold, the story takes an even darker turn. Instead of being worth 38 billion ounces of gold, today’s economy is worth only 7.5 billion ounces — less than a quarter as much.
Prepare for Rip-Off
People generally are probably no more corrupt than they always were. They are neither always good, nor always bad…but always subject to influence.
A Great Crime
Did society advance when Sparta burnt Athens to the ground? When Sherman burnt Atlanta? Was civilization inching up the hill, or sliding down it, when Candy Crush was developed?
The Astonishing AI Boom
Our baseline instinct is that most new technology is a waste of time. Even not-so-smart electronics often do more harm than good. Like mutations in the gene pool, most are sterile…or grotesque.
