Tag: failing banks

Whiling Away the Hours

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Today will be a lost day.  I’ll be essentially off the grid until 11 pm.  So, I’ll just put together some thoughts now to cover the day.

I was very happy that American Greatness posted my article “You Gotta Laugh.”  And not only because it multiplies the traffic to my site several fold.  But because it’s nice to get the visibility that a larger spotlight can afford.  Let’s face it, Google and Facebook don’t amplify the reach of right-wing sites.  In fact, it would be accurate to say they hide them.  So, it’s a treat when I can have one of my posts sitting at the top of a webpage that gets thousands of visits per hour.  That was fun.

It really does seem that the message on the street is that Joe Biden isn’t popular.  Could this be the long-awaited pivot to dumping Biden from the 2024 race?  How would that be done?  Some are saying that Gavin Newsome will challenge Biden in the primaries.  Others are saying that’s impossible.  Their alternate theory is Biden will be forced out through revelations about his corrupt influence peddling through his crackhead son Hunter.

Well, if challenging Biden in the primaries is impossible, exactly how does the Deep State keep him from running again?  I mean, I could see them earlier on threatening to reveal his corruption as a way to convince him not to seek re-election.  But if he’s already running, will they be able to convince him to drop out.  I guess it’s possible the media companies could cooperate and fabricate a bunch of polls showing Biden so far down that it convinces the American people that Biden is through and thereby convinces Biden too.  But I’m not sure Biden would take the hint.  He may be convinced that presidential immunity is the only thing that can keep him from being indicted.  Maybe he plans suicide as his way out.  Or maybe he’ll use dementia as his shield from prosecution.

And the other big story is the regional banks tottering on the edge of insolvency as depositors pull their money out.  This is round two of this crisis.  2008 was the first occurrence.  And that first round put our government into permanent emergency mode.  It was that bank crisis that force the whole financial system to adopt zero-interest rates and permanent quantitative easing.

But now because of the sanctions against Russia and the Green New Deal, the administration has unleashed dangerously high inflation.  That forced the Fed to increase interest rates and now all these banks are stuck with billions in underwater government bonds.  Checkmate.

So how does Dopey Joe talk his way out of this one?  Will faking a re-election solve his problem or just ensure that a blowup occurs on his watch?  I really can’t tell.  I have a feeling he’s hoping that a miracle will happen in the next year to make his problems go away.  But I think that’s highly unlikely.  What will probably happen is a pretty serious recession.  All the symptoms are there to see.  Maybe things will get so bad that not even the election fixers can throw this one to Joe.  It’s possible.

But the bad guys have called the shots so far.  We’re forced to sit here and watch this farce.  Well, watch it we will.  I’ve become stoical about the whole thing.  I’m sort of fascinated by the scope of the debacle.  I guess when I’m bankrupt and homeless it’ll feel less theoretical.

But until then I’ll be here babbling about the folly of our elites and their hopeless crusade to make the world safe for woke insanity.  See you tomorrow.

Can Powell and Yellen Thread the Needle?

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Trying to disguise the US economy’s virulent case of stagflation by alternately increasing interest rates and printing multi-trillions of dollars of phony money seems to be a very difficult balancing act.  Lately it has resulted in a string of large banks failing as the depositors pull out their cash to find interest bearing government bonds.

Now I hear they’re talking again about minting some “trillion-dollar coins” to get around a battle with the Republican House leadership about balancing the budget.

Will Biden and company be able to blame the crash of the economy on the Republicans?  Well, it wouldn’t surprise me too much.  Do I care?  No, not really.  There doesn’t seem to be any limit to how much damage the Democrats do to this country without any noticeable consequences to their re-election chances.

But it is interesting to speculate on exactly when the economy may collapse catastrophically.  Banks collapsing, even somewhat large ones doesn’t seem to worry the Masters of the Universe.  Apparently, we only need five or fewer ludicrously large banks to handle all the corrupt financial operations needed to facilitate wealth being sucked out of the rest of the country and into the coffers of the obscenely rich.

So, if it’s not collapsing banks, what will signal the final chapter of the country’s death spiral?  I suspect it will occur when the last of the middle-class disappears into poverty.  After all that was always this county’s strength.  And in fact, all the way back to 5th century BC Athens a large flourishing middle class was the engine of a healthy democracy.  Now that we’re no longer a democracy it makes sense that the priorities of the aristocracy will sooner or later kill off the golden goose that created their wealth.

And when that happens, I expect the aristocracy to start reducing their ranks to make their shrinking rents from the serfs stretch a little farther.  That’s going to be a rude shock for the bugmen who have groveled and scraped to remain in the various concentric circles of the outer hive.  Being forced out of the hive as winter sets in will be truly sad.  But the death by freezing of drones is a fact of life.

Of course, it’s likely the House Republicans will fold before much damage is done and give Biden his trillions out of fear but I have an almost morbid fascination with guessing when the death blow will fall.  Maybe the day is close now when the rot to the commercial sector becomes so pervasive that even the major banks like Morgan Stanley and Bank of America just can’t make the math work any longer.

At that point will the “people” finally revolt and beyond the scope of even ballot harvesting norms could the Democrats be hurled out of power?  I guess it could happen.  At that point probably the ultra-rich will gather up their assets in the form of tons of gold and platinum ingots and fly off to New Zealand to ride out the cannibal zombie apocalypse and plan their return to a pristine continent swept clean by the four horsemen of the apocalypse.

Well anyway, let’s just enjoy the spectacle of “experts” explaining how bank runs are really a sign of strength in the banking sector.  And someone please put Jim Cramer out of his misery.