St. Thomas is 100% right about the nature of money and lending.
Abolish the word lending for these financial encumbrances. They are not loans, they are claims on future earnings. This is why those in the know do not call it lending, it’s usury.
I loaned my friend Karl a sharpshooter. He’ll bring it back none the poorer. This is a loan.
If I “lent” him the money to buy a sharpshooter he’d spend it, then have to work and return to me OTHER money in a like amount plus interest. Bad news.
Abolish the word lending for these financial encumbrances. They are not loans, they are claims on future earnings. This is why those in the know do not call it lending, it’s usury.
I loaned my friend Karl a sharpshooter. He’ll bring it back none the poorer. This is a loan.
If I “lent” him the money to buy a sharpshooter he’d spend it, then have to work and return to me OTHER money in a like amount plus interest. Bad news.
I’m beginning to think “they” are going to pull off the soft economic landing.
I’ve been saying that it will be a long slow slide into third worldery. I think that’s true. I reckon it’s just going to be a slower and longer slide.
The central planners that control our currency and economy seem to have figured out how to collapse demand for key goods like housing and fuel.
Collapsing the housing bit has always been easy. Just drive the mortgage rates up. Fine. Done.
Collapsing demand for fuel is different. It has happened. Fuel sales for all types are down year on year, and last year was no record. In spite of “sanctions” disrupting supplies, in spite of shutting down pipelines in the US and all manner of other measures which have slowed production and delivery, prices are coming down again, because aggregate demand is down.
Unbelievable.
I thought in 2019 and early 2020 we were headed for deflation. I still think those conditions exist. (The currency is actually debt. Really. It’s “created” when bonds get bought.). Default on all the massive debt will cause money supply to collapse. This needs to happen, but “they” don’t want it. So they printed more currency currency is not money, money is a currency) in the last 30 months than the world has ever seen. Id din’t know they would do this.
I didn’t know demand would collapse for fuel, etc.
Anyway, soft landing.
Every time the bubble gets blown and the air gets let out the middle class gets smaller. We all get a little poorer while the gubermint keeps on immiserating everyone. Every leg down hurts a bit.
But if they don’t hurt us too much, we’ll take it just fine.
Here’s hoping for the big collapse. The Good Reset. One that deprives our managers of resources and makes good metaphysics and merit matter again.
I’ve been saying that it will be a long slow slide into third worldery. I think that’s true. I reckon it’s just going to be a slower and longer slide.
The central planners that control our currency and economy seem to have figured out how to collapse demand for key goods like housing and fuel.
Collapsing the housing bit has always been easy. Just drive the mortgage rates up. Fine. Done.
Collapsing demand for fuel is different. It has happened. Fuel sales for all types are down year on year, and last year was no record. In spite of “sanctions” disrupting supplies, in spite of shutting down pipelines in the US and all manner of other measures which have slowed production and delivery, prices are coming down again, because aggregate demand is down.
Unbelievable.
I thought in 2019 and early 2020 we were headed for deflation. I still think those conditions exist. (The currency is actually debt. Really. It’s “created” when bonds get bought.). Default on all the massive debt will cause money supply to collapse. This needs to happen, but “they” don’t want it. So they printed more currency currency is not money, money is a currency) in the last 30 months than the world has ever seen. Id din’t know they would do this.
I didn’t know demand would collapse for fuel, etc.
Anyway, soft landing.
Every time the bubble gets blown and the air gets let out the middle class gets smaller. We all get a little poorer while the gubermint keeps on immiserating everyone. Every leg down hurts a bit.
But if they don’t hurt us too much, we’ll take it just fine.
Here’s hoping for the big collapse. The Good Reset. One that deprives our managers of resources and makes good metaphysics and merit matter again.
Radishes, turnips, collards, kohlrabi, pole beans, and some squashes got planted today. I’m not sure the squashes will make in time, but it’s game on.
If your communion bread is made out of all synthetic foods is it communion? IS all the trans-food movement destined to take communion away?
Cancel culture is not cancel culture.
It’s designed not to cancel you, but to prevent you from making your own long march through institutions as the left did.
They do not really care that much about hurting you. They just don’t want to relinquish ANY power to anyone who is not part of their religion.
This is what we should have done when we had the chance. “Professor Wingnut, I see here you’re of the left. Tenure denied, and also you’re fired.”
“Ms. Jenkins, I saw your ERA bumper sticker on your Cordoba out there in the parking lot. You’re fired.”
“Hey, I couldn’t help but notice you wanted the company health insurance plan to cover birth control. You’re fired as fuck.”
It’s designed not to cancel you, but to prevent you from making your own long march through institutions as the left did.
They do not really care that much about hurting you. They just don’t want to relinquish ANY power to anyone who is not part of their religion.
This is what we should have done when we had the chance. “Professor Wingnut, I see here you’re of the left. Tenure denied, and also you’re fired.”
“Ms. Jenkins, I saw your ERA bumper sticker on your Cordoba out there in the parking lot. You’re fired.”
“Hey, I couldn’t help but notice you wanted the company health insurance plan to cover birth control. You’re fired as fuck.”
Forwarded from ScottStream
Reasons why the Saudis would take China’s cruddy fiat vs. the US’s cruddy fiat.
1. The chinese are soon to be their biggest customer. Gotta accommodate the customer.
2. The US has shown that it will cripple geopolitical opponent’s ability to do business by shutting them out of SWIFT, seizing their reserves, etc. It’s dumb to not find an alternative.
3. The Chinese are not phags, Islamic don’t like phags.
4. The chinese are buying lots of gold.
5. They chinese don’t lie nearly as much as the US.
6. The yuan has better short AND long term prospects.
1. The chinese are soon to be their biggest customer. Gotta accommodate the customer.
2. The US has shown that it will cripple geopolitical opponent’s ability to do business by shutting them out of SWIFT, seizing their reserves, etc. It’s dumb to not find an alternative.
3. The Chinese are not phags, Islamic don’t like phags.
4. The chinese are buying lots of gold.
5. They chinese don’t lie nearly as much as the US.
6. The yuan has better short AND long term prospects.