Hello MM. Robert’s is obviously compromised, so there’s that. November will tell whether constitutional rule of law can be resuscitated or not. Before his youtube channel was completely pulled down a few days ago in the latest digital book burning, George Webb was starting to paint the picture of how UN/Nato mercenary forces might come in, using the existing JTTF template as some kind of, “transitional” force post-police defunding. We thus start to see who might play the role of the Brown Shirts in this ongoing Marxist theatre.
A quick summary of George Webb’s ideas can be heard at about the 8:30 mark here on a compatriots channel;
https://www.youtube.com/watch?v=jwZBkxdNUxg
Cases may be going up, but deaths and hospitalizations keep going down. What is true?
At the root of the shrill and now-constant attacks on such a fundamental and “self-evident” freedom as the right to speak freely, as guaranteed with priority by Article 1 of the Bill of Rights, is actually just one little part of America’s population, a small percentage, a self-serving demographic group that amounts to a kind of separate nation within the American nation. It’s a position they hold elsewhere too, and one they have held in other nations in the past.
No honest discussion of the attacks on freedom of speech is possible without naming that particular demographic group.
This is a website that revolves mostly around finance and (more recently) the honey badger-19 pandemic, and because I value the work of Adam and Chris - and my membership here - I won’t wander outside of those parameters, nor challenge their sensibilities. So I won’t name that demographic group. Yet I think anyone with an IQ above room temperature knows what group I am talking about.
Hi Jim,
That would of course be great news. In the Netherlands it is now claimed that a second wave is unlikely. Partly based on a similar decline in instantaneous CFR. I find this rather misleading. I think that there might be other factors involved that could influence this decline in “instantaneous” CFR. I ranked them from likely to less likely (imo), for example:
- better treatment protocols: 1) HCQ really not used? 2) It is not treated anymore as (only) a “lung disease”
- weakest, most vulnerable population has been removed from the population
- strict lockdown (e.g. in Netherlands) leading to reduction in initial virus load.
- better weather, vitamin D3! Less stress.
- more information about supplements
- people rather die at home than pay $1000.000+ for hospitalization (in US)
Any prediction about the situation four months from now is somewhat early, considering other potential reasons gof a decline in mortality.
Thanks for the great chart btw.
@Mysterymet: I am glad your mom taught you to fight your own battles, as you should. I have a concern about your method for dealing with these issues: Hypothetically speaking, let’s say I did what you suggest and replied to the guy who posted the offensive joke by posting a picture of a very small penis, adding colourful, demeaning, derogatory language to belittle his manhood. It is reasonable to think that at that point the discussion would deteriorate in an ugly way. Further, my observations of other women doing these things is that most men become angry at any such insult, which only serves to further fuel misogyny. It might feel good in the moment to give such a put down, but how does that help anything? With all due respect, I do not see your method as being a valid solution that serves to move people forward to a more respectable state of being for all.
When you say ‘no need to make a federal case of it’ you are delivering a micro-aggression that serves to discount thoughts I expressed about a major social problem: the objectification, disrespect and misogynistic attitudes towards women. In fact, I find micro-aggressions are present in the replies of Jim H and Susan7 as well. In case you or anyone else here are not familiar with micro-aggressions and the damage they cause; the short video below is a primer. The long-term effects of persistent, ongoing exposure to micro-aggressions are well known. This is an endemic, systemic issue that requires far more respect and far less flippant put downs and poking fun at people who are serious about trying to find ways to make our society more respectfully equitable.
https://www.youtube.com/watch?v=bjzWENcW6NQ
@JimH: When you start out with a subject line like “This is how it works…” you are setting the discussion table with a domineering tone that I received as you being the high and mighty expert and your word is it! I see a subject line like that as a hook that can trigger an adversarial response. Just saying you might want to consider that next time, Jim.
I do think you initially erred in your reaction to my posts because I never said the offensive joke should not be said at all - I said they should take it elsewhere, like ZeroHedge. There is no question I have disdain for that type of content and my own preference would be to not to see it anywhere. I do agree wholeheartedly that people have the right to say whatever they want – free speech is a beloved part of our Canadian constitution as well. So long as it is not hate-speech as defined by the courts, and the content falls within PP site guidelines, then c’est la vie. We are on the same page with free speech, that is not in question. I will say that if this site were full of objectionable content all the time I would never have joined and would not actively participate. There is enough sexist & misogynistic stuff to deal with in day to day life without having to deal with it here as well. I am grateful for the site posting guidelines.
Your inexplicable jab at Canada is perplexing. I am not sure why you felt compelled to do that, other than to further assert superiority. I was and remain sorely tempted to fling something back at you for that comment, proud Canadian patriot that I am, but I will refrain from doing so. In fact, after pondering it, and with tongue firmly planted in cheek, I say let us run with it! You have my approval to spread the word far and wide in your country that Canada is a goner, and that we up here in the Great White North are all washed up with nothing to good offer anyone! That way we will not have millions of Americans looking to emigrate here as things slide into the abyss down there. Deal? There, now I feel better. ?
I thought the remark about aspiring junior moderators (plural) was a poor attempt at humour, and an unkind one. I do appreciate that you said you were not making fun of me and respected me, that you were just trying to stimulate dialogue. But in saying that, you did not mention Sparky, which I saw as a deliberate slight against her. I cannot say if it was intentional or not. I hope it was the latter as I do not think you are that kind of guy. While there may be people who disagree with some of Sparky’s comments, and at times I have been one of them, she deserves respect for being a caring member who tries hard to help PP be a civil and welcoming place.
The one thing I would so love to see happen on this site, and I am sure Sparky and a few other women would agree, is for a man, any man, I do not care who, to call out another man for inappropriate content such as what we have seen in this instance. For someone to have the willingness to show they support respect for all by responding to an offending comment with something like ‘hey dude what’s up with the offensive joke/language/picture? That is so not cool, and not appreciated here at PP. Please take it elsewhere’. Or something to that effect. Seriously guys, how hard would it be to do that?
This site espouses integrity. That, to me, means everyone regardless of gender, being willing to report content that they recognize as likely being in violation of the posting guidelines. One can reply to questionable comment to simply write ‘moderator has been alerted’ to let everyone else know that the ball has been tossed to Adam and team. This in lieu of the alert moderator button which is still MIA 
Just a thought for consideration.
Offered respectfully to all – accept or reject as you see fit.
Jan
Some call this freedom of speech with reasonable limits… I consider it a slippery slope.
https://www.nationalreview.com/2018/04/canada-laws-crack-down-on-hate-speech/ Canadians do not enjoy a universal right to freedom of speech; expressing and consuming certain ideas and opinions is regulated by law. This is rationalized by the Canadian constitution’s declaration that government has a right to restrain freedoms with “reasonable limits prescribed by law as can be demonstrably justified in a free and democratic society.” Ottawa has thus elected to impose “reasonable limits” on speech deemed obscene, seditious, treasonous, pro-terrorist, or hateful. Since “hate speech” tends to be the most controversial category, it’s worth walking through the numerous layers of law and authority that Canada’s government invokes in order to prevent Canadians from, say, reading the wrong sort of book.And this of course;
https://www.cochranetoday.ca/local-news/federal-gun-ban-locked-and-loaded-2380221But hey, we didn't need those guns, nor those hateful books anyway. I'm just going to leave the rest where it is... Thank you, Jim
I have been watching Chris’s youtubes for months and particularly appreciate his deep dive into the medical trials and drug studies. But this podcast left me a little cold, calling the FED actions racist (and saying they are aware they are racist) without offering alternatives seems a little under his usual level of integrity. If the Elites are the ones who benefit the most from the FED actions, isn’t this also impacting everyone else(those who are not Elites) , who are not all black. I hope Chris will further flesh out this accusation, and offer solutions.
Solution: The Fed (and other central banks around the world) simply need to stop the crazy money printing (that’s called counterfeiting by all other standards…wasn’t that the charge against George Floyd?) & buying massive amounts of distressed financial assets. Those actions disproportionately benefit those who own financial assets (blacks own the least by far on average). The charts showing the direct correlation between the Fed’s balance sheet and the stock markets are ubiquitous (printed money and artificially low interest rates facilitates flows of money into the financial market via so many pathways, and now the Fed is directly buying corporate debt…is that even legal??..and probably ETFs). These activities have lead to great racial financial disparities, but there’s a larger issue: these actions are the biggest reason for the ever increasing wealth gap in society not just in the U.S. but worldwide. Any good student of history knows that increasing wealth disparities from top to bottom tends to destabilize society and leads to turbulent times.
I highly doubt the Fed deliberately creates it’s policies with a racial slant. I would clearly not call them directly racists, but I absolutely would say their policies have undeniable racial consequences…something Jerome Powell fully denied. Liars are what the Fed and other central banks are. There is nothing “federal” about the Fed as they are made up of a group of private bankers. They started with virtually zero capital and now they are the largest owner of real estate in America. These unelected people have much more power than any other entity. The Fed operates with virtual zero transparency. The Fed lies all the time: “the low interest rates for an extended periods of time did not have any affect on the housing bubble“…in the early 2000’s, they denied restarting QE last September when they clearly did, they have always been very careful to speak in a convoluted fashion saying things like QE when it’s really money printing/counterfeiting, “we are not monetizing the debt”…when they clearly are. The lies go on & on.
The Fed’s policies have simply kicked the can down the road instead of addressing our financial problems head on many years ago & allowing society to take the unwanted but necessary pain. Instead, the financial problems have grown over time and now we are headed toward a much larger day of reckoning.
So, what the Fed can do is stop with all their smoke and mirror financial shenanigans which are only leading to more & more crazy consequences…one of which is undoubtedly inherently racist.
The Fed can not fix racism in general, but they most certainly can be honest and fix their role in it. That’s all any of us can do.
For those who want a primer on the Fed I would suggest watching a speech by G. Edward Griffin on YouTube. There are older yet longer versions, and more recent versions. I believe Chris M. interviewed him once on PP. G. Edward Griffin wrote “The Creature from Jekyll Island”. It’s a factual account of origins of the Fed.
Before I post on this site, I keep 2 things in mind. First, peak prosperity is basically a 2 man show. Any time you post something inappropriate, it requires Chris or Adam to step in and get involved. Babysitting time on their part takes away personal time from their families and time from posting more content on this site. A lose-lose situation.
Second, before you post, use the acronym THINK:
T - is it truthful, thoughtful
H - helpful or hurtful
I - insightful, inspiring
N - necessary
K - kind
If you read through the 47 posts in this thread, a significant per cent add zero value to what I deem important. Next time someone posts something that lights you up, THINK.
I think what may be useful and beneficial or important to one may not to another. Its very hard to suggest who’s post is useful or not. Once as a child an old drunk man was telling me a story, and someone said dont listen to him his drunk. Yes he was, but though a lot of what he said was nonsense , i walked a way with something small from that encounter. You must censor and filter content for what is useful for you. I do not expect the media or this site , for that matter, start to decide for me what is important or not.
I think Chris and Adam have great ability to filter important things, or we would not be here. I am sure they are doing pretty well assimilating useful stuff in comments. We have the ability to show our approval for posts here with a like. If anything, I feel guilty here having to reply to this comment.
Just saw some footage of Fauci testifying in Congress. He was wearing a mask for a while, until he started to speak, then he pulled it down - just at the point when his droplet release would be peaking. Then he pulled it up and adjusted it near his nose. Later, he didn’t even have it under his chin. Oh boy, if the leading infectious disease expert in the US doesn’t even know how to wear a mask, what hope have the rest of Americans have of wearing masks properly?
Chris’s latest video is good, apart from his trying to take apart the Ioanidis paper, since he misread what was in the part he shared and spent several minutes taking apart a claim from the paper that wasn’t in there; that the IFR was 0.04%. That number was only for people under 70 years of age. Almost certainly rubbish also but the number they claimed for the IFR (for all population) was 0.26%. It would have been a better video if he’d taken that number apart (though it wouldn’t be possible to do it the way he took the 0.04% number apart).
Maybe Chris needs to take a longer break and come back firing on all cylinders.
nordicjack,
I’m not a prude. I appreciate bawdy humor in the correct venue. I also appreciate people knowing when that sort of humor is appropriate. Many of the posts on this thread were directed toward defending or defiling an inappropriate cartoonish visual with sexual reference to (SC2 furin) cleavage. It was little more than 6th grade boy’s humor.
That’s all fine and good for a 6th grade boy; however, I expect much more when I come here. I want intelligent discussion with viewpoints that I have yet to consider. Then, I can contemplate the merits of the arguments and decide for myself whether to accept or reject the previously unknown views. All of that discussion is hindered when people feel that they’ll be overtly (or covertly) ridiculed simply because of perceptions of the author’s particular demographic.
I’d much rather have intelligent discussion than a quickly forgotten, purposefully offensive play on words. As noted by others, there are other places on the web that cater to that type of response.
Grover
Was this pandemic response scripted by The Onion? Groucho Marx? Three Stooges?
Stopping at red lights reduces collisions!
Chewing food reduces choking!
Wearing condoms… oh never mind.
We are dealing with terminal stupidity in these our last days of “civilization” as “intelligent life on Earth” is being snuffed out.
Run, Forrest, run!
I have been watching Chris's youtubes for months and particularly appreciate his deep dive into the medical trials and drug studies. But this podcast left me a little cold, calling the FED actions racist (and saying they are aware they are racist) without offering alternatives seems a little under his usual level of integrity. If the Elites are the ones who benefit the most from the FED actions, isn't this also impacting everyone else(those who are not Elites) , who are not all black. I hope Chris will further flesh out this accusation, and offer solutions.
The academic name for the Fed’s current policy is financial repression. But a more apt name would be “Throw granny under the bus,” because the program boils down to taking from savers and fixed-income recipients and transferring that purchasing power to other entities. The cornerstone element of financial repression is negative real interest rates, of which the Federal Reserve is the prime architect and owner. From the start of the Fed’s post-crisis intervention through 2013, the total cost of these negative real interest rates was over $750 billion just to savers alone. The loss of income to fixed-income investments (such as bonds held in pensions and money markets) was even larger. But here’s the rub. That loss of income and purchasing power didn’t just vanish. It was transferred from pocket A to pocket B. It magically appeared again in record Wall Street banking bonuses, in shrinking government deficits (due to lower than normal interest rates), in rising corporate profits (mainly benefiting the already rich), in record stock buybacks (ditto), and in rising wealth inequality. More directly, when the Fed buys financial assets with printed money and — by definition — drives up the price of those assets, it cannot then act mystified why the main owners of financial assets have grown wealthier. Doing so simply insults our intelligence. With that as background, I found myself struggling to remain calm as I read Yellen’s recent remarks.I stand by every word of the above. The 'alternative?' The Fed should absolutely not be in the business of setting the price of money. It should let the market decide. When it intervenes and sets the price of money below market rates, as it has for the past 20 years, we get "markets" and eventually ""markets."" The quotes and then double quotes are meant to convey the increasingly deformed nature of the price discovery and capital allocation roles of true, functioning markets. So, yes, the Fed is THE architect of the wealth gap. They are preferentially funneling money to those individuals and entities that benefit from negative real rates (banks, big borrowers, government, stock and bond owners, etc.) and both depriving savers of interest income AND creating a wealth gap at the same time. A sub-set of this dynamic is that the main beneficiaries of all that picking and choosing are overwhelmingly white households. If the Fed were a legit government agency, or a private corporation, it would be subject to the Affirmative Action rules and regs. Its policies clearly benefit one race and harm the rest. For example, Blackrock taps the Fed borrowing line at well below market rates for typical homeowners. They then turn around and buy up tens of thousands of homes in key metro markets, effectively out competing 'little people' whose cost of capital is up to 300 basis points higher than the sweet-heart deal Blackrock gets courtesy of Fed POLICY. Yes, whites get harmed there too, but you know who gets harmed even more? African Americans, Hispanics, and Native Americans. How is that not a racist stance? I'm willing to be argued off of that question, but I'm putting it out there harshly in the hopes that somehow the Fed will at least have to respond. The Fed is a racist organization with racist policies. Change my mind.
Chris,
I absolutely agree with you claim, except for in the semantics relating to the word “racist”. It’s difficult for me to claim racism in regards to an entity as opposed to the power structure it works under. It’s the difference between intent and outcome.
The wealth inequality gap while “intentional”, i don’t believe is intended to be discriminatory in relation to race. But the web of racist architecture cementing the entire socio-economic and political structure steers all “power-policy” within the structure to unavoidable racist ends.
There are so many intertwined webs and very strong historically fabricated racist links, that even currently unintended outcomes become inherently racist.
I believe racism is a structure that can only exist in relation to those that set the rules, even if those setting them aren’t racist themselves.
There is a power out there that delights in splitting the lower classes along lines of race and religion, so that their looting can go unchecked.
OMG. Transgender bathrooms! Fight!
OMG. Right to Life! (Or a Woman’s Right to Choose!). Fight!
OMG. A NOOSE!! (Or, maybe a garage door pull). Fight!
The more we fight, the easier it is for the rackets to continue.
Racism is just the wrong slice to take. Invoking race always works in service to that power that seeks to divide. Same goes for any divisive non-bottom-line social issue that slices the lower classes into manageable chunks.
Isn’t it interesting how we have a nation-convulsing race situation explode immediately prior to an election when it is sickcare that is really hosing the country?
I think its awfully convenient. There’s no oxygen left in the room to talk about the big “money” issues. It’s all been sucked out - into “statues” - and “defunding police” - and “racism”.
All things that don’t touch the bottom line of the rackets.
It’s like someone planned it this way.
The policies the fed implements keeps inflation down. However, this is not a good thing. As it puts more downward pressure on wages compared to the modest inflation in consumer goods. It also puts downward pressure on home and real estate increases. This was the way my grandparents built wealth They all had 2 homes, savings and investments in real estate. My step father’s father bought a piece a property and in 30 years it increased in price 100 fold. My stepfather held the property after inheritance for 27 years, and it didnt increase 1 single dollar. Further, the property tax exceeded the value of the land in the same 27 years. Ultimately, the value and asset evaporated. The older retiring generation, needs inflation and higher interest rates to carry them through retirement rather than reverse mortgage their assets out of existence.
You would think lower interest rates allow more people to buy homes, It does but it allows less people to own homes. There is a difference. It used to make sense to pay a builder ( now about $75-100/hr ) to build a home when you are making more than the blue collar builder ( 1955) But now, most people, even degreed , make less than the builder - but they will finance that money on the home. It does not make any sense. Additionally, we used to finance homes , because it would make more sense than saving to purchase a home. Because in the time you could save 40k , the home would increase in value more than that 40k. But times have chanced in the last 20 - 30 years. Homes and inflation do not increase like they used to. It does not help home owner ship… When you buy a home ( though perhaps bigger than yesteryear ) but you never get to own it as its cost to maintain, repair, insurance, taxes, mortgage out pace any value accumulated in payments or time of ownership… If you have equity in your home at all , you are likely over 55.
I think the key point here is that the Fed’s policies (and those of the other world central banks) are unfairly benefiting the elites to the detriment of EVERYONE else. They are transferring the world’s remaining wealth from the rest of us into the pockets of the already-rich at an accelerating rate.
Here’s how lopsided the wealth distribution has become:
In 2019, however, the report said that the "bottom half of wealth holders collectively accounted for less than 1% of total global wealth," while "the richest 10% own 82% of global wealth and the top 1% alone own 45%." (source)And it's only becoming more lopsided. The new $trillions released by the Fed since April to goose financial assets higher are rocketing the wealth of the millionaire/billionaire class higher. In contrast, tens of millions of households (in the US alone) are instead losing their only source of income. By definition, these policies are: - Age-ist: Seniors who planned to live on a fixed income or a return off of their life's savings have been sacrificed in the Fed's imposed regime of 0% interest rates. Similarly, if you're a millennial or younger, thank the Fed's liquidity firehose for the unattainable prices of housing and, well, EVERYTHING. - Class-ist: Not a member of the champagne and caviar crowd? Don't already have a portfolio of stock, fine art, racehorses and chalets in place to watch appreciate? Sorry. You simply have to deal with surviving on stagnant wages (if you're still lucky enough to have a job) as the cost of living relentlessly accelerates year after year. - Race-ist: If your ethnic group is underrepresented in the top 1%, then the Fed's current policies are worsing that disadvantage. If you thought there was racial inequity of opportunity before covid-19, it's only getting worse thanks to Jerome Powell and his FOMC buddies. The point Chris and I have been loudly repeating of late is that things are only going to worsen until society realizes that the Fed is the VILLAIN in this story, not the hero it paints itself to be. Its unfair policies and detrimental intervention have created the zombie economy and Frankenmarkets we are now stuck with -- and the grave social inequity that has resulted from those. And when this whole messed-up system breaks -- likely via a currency collapse -- the 99% will be the most injured. Even if the dollar dies, the top 1% will still own title to all of the worlds assets, ill-gotten during the Fed's 'reign of error'. So, it's important that all of us, however we self-identify (age, race, gender, socio-economic class, etc) to see the Fed as antithetical to our interests and well-being. And to start pushing back in ways both small and large.