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Watch as a Great Empire Stumbles and Falls BALTIMORE, MARYLAND – What a marvelous time to be alive… with a front-row seat to watch a great empire stumble and fall! It only happens once every hundred years or so… So pull up a chair and enjoy the show. Here’s the big news, from Bloomberg:
Supply chain? What’s happening is much more than just a weak link. Adjusted for inflation, real industrial production has been going down for half a century and now is only a third of its 1968 level. Falling Apart The U.S. enjoyed a fake prosperity for the last 30 years – but only because China picked up the burden of manufacturing and sold goods to Americans at discount prices, keeping inflation in check. And now, the U.S. no longer has the good jobs, the infrastructure, or the know-how to make things Americans want. Instead, appliances and geegaws are shipped across the Pacific Ocean – at enormous cost – while the discounts disappear. China’s raw materials costs – metals, fuel, etc. – are going up. So are its wages. It can no longer offset America’s money-printing with cheap products. Yes, here in the U.S., “inflation” is now out in the open… and the whole scam is coming apart. CBS News reports:
On the Case But don’t worry. The Biden team is on the case. Spotted on Bloomberg last week:
But is the president really doing Americans a service by making it easier for them to buy Chinese products? Both the Trump and Biden administrations share the same COVID-19-fighting strategy – close up U.S. businesses, but give Americans money so they can shop for Made-in-China goods. Here’s the Asia Times:
Fraudfest As we’ve been saying… the whole thing is a fraudfest. From the most basic premises – that wise guys in Washington can make decisions better than consumers, producers, and investors… …that American “democracy” follows the “will of the people”… and adapts to its needs… …that elected officials know how to run a shipyard better than people who’ve been doing it all their lives… people with skin in the game and real brains in their heads… …that you can spend more than you earn, year after year, and cover the deficits with “printing press” money… …and that this fake money actually “stimulates” the economy – it’s a “bezzle.” From start to finish. Dishonest. Corrupt. Incompetent. Fake Prosperity You can’t “print” prosperity. You can’t make an economy work with five-year plans. And “democracy” does not mean that the majority always gets what it wants. Nope. It gets whatever bone the elites toss its way. But while tossing out scraps was easy when the economy was growing, of late, it’s become much more difficult. The U.S. squandered trillions on its misbegotten wars and social programs. Now, it’s got a $3 trillion deficit – even without a recession. And this week, Republicans and Democrats consider the next trillion-dollar-plus programs… while the printing presses run hot to pay for them. More to come… Regards, Bill Like what you’re reading? Send your thoughts to [email protected].
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