This article was originally published by Charles Hugh Smith at Of Two Minds Blog.
If you think this scale of stimulus is sustainable and consequence-free, you must be mainlining Delusional.
Wall Street’s euphoria knows no bounds, so how can this be the Winter of Our Discontent? We all know the source of Wall Street’s euphoria: $1.9 trillion in stimulus, followed by another $3 trillion for corporate welfare, oops, I mean infrastructure, and a Federal Reserve whose solution to destabilizing wealth and income inequality is to make the rich even richer because, well, that’s what we do here at the Federal Reserve.
An old adage holds that what everybody else already knows has little value. So everybody knows about the Fed’s endless spew of monetary giveaways to Wall Street and the federal government’s endless trillions in borrow-and-blow stimulus, but does everyone already know that the stimulus-based economy and all the Fed-inflated asset bubbles are completely phony?
Yes, phony. Does everyone already know that none of the promises that have been made to you can possibly be kept?
“Free” (to you) healthcare: no.
Future Social Security payments with an equivalent purchasing power to the checks issued today: no.
A national currency that holds its value into the future: no.
High-functioning public infrastructure: no.
A working democracy in which citizens can affect change even if the power structure defends a dysfunctional, corrupt status quo: no.
An affordable higher education system that prepares its graduates for entrepreneurial jobs in the real-world economy: no.
Cheap, abundant fossil fuels and reliable surpluses of electricity: no.
High returns on low-risk savings: no.
A government that can borrow endless trillions of dollars with no impact on interest rates or the real economy: no.
Pay raises that keep up with real-world inflation: no.
Ever-rising corporate profits: no.
A status quo that actually ends privilege instead of cloaking it with PC PR: no. (Recall I wrote an entire book about institutionalized privilege and inequality: Inequality and the Collapse of Privilege.)
A system that encourages the launching of new real-world businesses: no, no, no, a thousand times no.
A status quo that has some realistic plan to impose Cold Turkey withdrawal on all of Wall Street’s junkies addicted to Fed smack: you must be joking. The junkies are running the entire financial system.
The faint glimmerings of reality leaking through the public-relations blitz is the first light of The Winter of Our Discontent. The Federal Reserve’s apologists and lackeys are speaking 21 times this week, all to reassure the Wall Street junkies and dealers that the Fed’s supply of smack is infinite. Why don’t we just rename the Fed The Ministry of Propaganda? Wouldn’t a dash of calling it what it really is be refreshing?
If you think this scale of stimulus is sustainable and consequence-free, you must be mainlining Delusional. According to the Fed’s apologists and the political class, Spring is here and will last forever. This chart says The Winter of Our Discontent has yet to start, but the first signs are visible to those willing to look past the PR.
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Hmm, at 74 yrs, I learned a long time ago that free is not free. That at some point in time, the piper will have his due, one way or another. And the way things are going or headed in this country, you had better grab your rear end and hang on, because it’s going to be a bitch of a ride ( considering who the elected people are and what their motives are ), it will be a bitch of a ride anyway.
The overarching point is, that our gov’t is truly a complete farce. Officialdom works in collusion with the central banks to keep the money flowing in to the State, corporations, etc. Unfortunately, to get away with this scheme most people have been dumbed-down and successfully propagandized, they accept the crumbs distributed to the masses. Many citizens have shown to be like children, give them a toy and all is well.
Of graver concern is that officialdom and the central bank is literally destroying the money, rendering it more valueless by the month, and it is accelerating. The federal debt is incomprehensibly huge. In reality it is unknowingly huge. Officialdom has stopped discussing how to address the debt. They know it’s pointless, that bridge has been crossed and the bridge has been destroyed. The debt cannot and will not be addressed, nothing can be done about it, it’s too late – that’s the truth.
Debt accumulation will just go on until a national financial crisis unfolds and the money is worthless, that’s all. The end result of course will be that the State will curtail our civil rights in a effort to contain the chaos and upheaval, financial crises have always ended this way throughout history.
I have lived through many economic cycles and long enough now to have a lot of wisdom on these things. I have also lived in many different economic systems, crashes, wars etc. And …
Just as the last crisis crashed to the floor interest rates and ramped up money printing (QE etc.), so the next crisis will also come like a thief in the night. Anyone who remembers the 70s will know interest rates can leap overnight, inflation soar, and cities fall apart. It then takes a decade or two for politicians to ‘fix’ things.
If you look at where we are in the cycle, then it is clear we are going to have a combined inflation and rising interest rates shock. Such an event BENEFITS the guys at the top. Inflation raises their price returns at point of purchase, and interest rates nail the indepted and make them very compliant and servile. In the end it is always about power and keeping control. They just need to keep most people by the short and curlies.
It is true some “middle class” people will benefit because they have cash savings, but these days that is a very small number of people. Most people are in debt to the sky or are now totally dependent on government payments. That is the sweet spot for the elite.
Stock up folks hard times are coming….where can you go?
There’s no free lunch forever.
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Prepare and Stay Well,
Steve
Somebody please correct me if I’m wrong, wouldn’t we have less problems in the world if we skipped all the living and suffering and went right to the part we outlaw man’s brain and do away with man kind altogether, or is the democrats already trying this angle? yeah I know, I’m just another dumb rear ended old man who doesn’t know when his bowls move any more.
but I’m not as bad as that clown we have for President.
Ya…. But even if you follow the past cycles of our/your lifetime you can’t really compare to now. Seeing as we are in an absolute struggle for the survival of humanity. Sadly this is not being dramatic or overstating what is happening. This goes far beyond anything people have lived through previously. Most people are not truly seeing or capable of understanding so much going on. The paradigm of our realm is shifting. Things are all leading to exactly what we have been told “great reset”. It is just much different version then the joke being ran on the sheep currently. Considering we have all grown up on a web of lies, false history, and a certain narrative to have you must come to the realization we know truly nothing. And unless you start understanding the only answers you will ever find are the ones you come to yourself then you will always remain a fool believing whatever someone tells you. Most people are unwilling to remove their false sense of security and their incorrect perception of this realm. Because it is easier that way, that is everyones choice to make. To seek true knowledge which is our best weapon right now or stay asleep and believe all the nonsense and deception everyday and believe all the fake history we were told. Doing nothing, turning a blind eye or just sitting on the sidelines is just the same as the ones who are doing this horrible genocide of our fellow humans. People may want to truly start thinking of the implacations each of our choices have and how serious your free will choice of where you stand is. Because if you can’t understand how this materialistic demonic shit lie realm is not our last destination well I can’t imagine how one might answer when asked “so uh, why did you just not do anything, bend the knee to oligarchs and turn your back to the one who has created us…” good luck answering that one and people probably dumb enough to try to lie in this situation…