Don’t expect the world economy to resume its prior growth pattern after COVID-19

Most people seem to think that the world economy is going through a temporary disruption, caused by a novel coronavirus. As soon as COVID-19 goes away, they expect the economy will be back to normal. I think that this assessment is overly optimistic. The way I see the situation, the world economy was already having severe growth problems, caused indirectly by resource problems, even before COVID-19 hit.

In a growing world economy, a person might expect that workers would be getting richer, so that they could afford an increasing quantity of goods and services. What we really see is something very different. The number of new automobiles sold was falling in many major countries long before COVID-19 hit, even as population was generally rising. Clearly, something was seriously wrong.

Figure 1. Auto sales for selected countries, based on data of CarSalesBase.com.

As I see the situation, the world has a resource problem. Resources of many kinds, including fresh water, energy products, and minerals of many kinds were becoming more difficult (and expensive) to extract, even before 2020. Substitution might have worked if the problem were only one or two resources, but not with several major resources. Cutting back was the only answer.

Thus, the shutdowns for COVID-19 came at a convenient time, allowing economies that were already doing poorly to shut down. Needless to say, there was no world leader who was willing to explain this hidden issue to the world population. Instead, world leaders used standardized code words such as “we need to move to renewables” or “we need to reduce carbon use by 2050 to prevent climate change.” Unfortunately, the ability to move to alternatives in this time frame is simply an illusion, allowing world leaders to avoid mentioning the serious resource issues that the world economy is really facing.

I expect that within a few months, a new crisis of some sort (perhaps financial) will come along, further reducing resource use. This will happen, whether or not the problem of the novel coronavirus is solved. In this post, I will try to explain the situation.

[1] The world’s economy is a self-organizing system, powered by the laws of physics. It requires a mix of resources, including energy resources, to operate.

The laws of physics require that energy be “dissipated” whenever activities we associate with generating GDP take place. For example, if a person is to drive a truck, he/she will need to eat food for his/her own personal energy. This food is “dissipated” by digestion. If the truck is to transport goods, it will need to burn some type of fuel, such as diesel. This fuel is dissipated by burning. If a computer is to operate, it will need to dissipate electricity. If a room (or a liquid) is to be heated or cooled, some sort of energy dissipation will be required.

The world economy grows in a very orderly manner. It gradually adds population, as more babies are born than people die. All of these people need food and fresh water; they also need some type of housing and clothing to protect them from the elements. Ideally, they need some type of transportation in addition to walking. Businesses are formed to enable access to goods and services that fill these needs. Governments are also formed to provide services used by all and to regulate the system. A financial system is formed to facilitate transactions, among other things.

The world economy cannot slow down and quickly restart. This is especially the case for an economy that had already started slowing, even before the 2020 pandemic. If not enough resources of the right kinds were available to enable true economic growth before the pandemic, it is hard to see how the situation would be very much improved a year later.

One key to understanding how a self-organizing economy works is to understand that the economy is multi-sided. Businesses need to make an adequate profit, to continue in operation. Workers need to earn an adequate wage to raise a family. Customers need affordable prices. Shortages of inexpensive-to-extract resources can lead to many different problems: lack of profitability for producers, or too much wage disparity among workers, or too high prices for customers. Resource shortages can also lead to people with inadequate wages wanting to migrate. They can also lead to empty shelves in stores.

[2] Depleted coal mines near population centers in China have adversely affected the Chinese economy more than it tells the outside world.

China joined the World Trade Organization (WTO) in December 2001. The Kyoto Protocol mandated that 37 industrialized nations cut their greenhouse gas emissions. More than 100 developing countries, including China and India, were exempt from the treaty. This combination of events allowed China to greatly ramp up its economy, building many new roads, factories and housing units from concrete, with little competition from the 37 industrialized economies.

China had very large coal resources, which it ramped up (Figure 2). Of course, this greatly increased world coal consumption, an effect precisely the opposite of the stated purpose of the Kyoto Protocol–to reduce world CO2 emissions.

Figure 2. World and China coal consumption, based on data of BP’s Statistical Review of World Energy 2020. China imported 7.4% of its coal supply in 2019, so China’s coal production would be similar, but it would hit limits a bit sooner and harder.

The problem that China ran into about 2013 was that its coal mines, especially those near population centers, began depleting. The cost of extraction started rising because the thickest coal seams, closest to the surface, were badly depleted. In theory, there was still a great deal more coal available from those mines if the price would rise sufficiently high. Coal from new mines that were more distant from population centers might also be used if the price would rise high enough to include overland transport costs.

Coal prices didn’t rise to match the higher cost of production. If they had risen, they would have raised the cost of many goods manufactured for export, making these industries less profitable. Because coal prices stayed too low for coal producers, over 70% of China’s coal companies were reported to be unprofitable by the first half of 2014.

China closed unprofitable mines and added new mines at more distant locations. China’s coal production has struggled in recent years. A constant problem has been keeping coal prices high enough to cover the rising cost of extraction and delivery to population centers. There are recent indications that coal supply is inadequate: Parts of China experienced rolling blackouts in the winter of 2020-2021, and warnings have been given to expect possible electricity shortages this summer. China has been accepting few coal imports, largely because it wants to keep its local prices sufficiently high that its own coal producers can be profitable.

China uses coal in many ways, including generating electricity, making steel, and manufacturing cement, which is the most important ingredient in concrete. Concrete is used in producing roads, bridges and buildings of all types, including high rise buildings used in many places in China.

Figure 3 shows that China’s cement production fell at a time similar to that at which coal production “flattened out.” This would not be surprising if a shortage of coal led China to cut back on its use of cement in order to save coal for electricity production.

Figure 3. Cement production for the World and China based on USGS data.

China, like other countries, has been seeing its population rise. Figure 4 shows coal and cement amounts for China on a per capita basis. This approach shows that, viewed on a per person basis, both coal consumption and concrete production have been falling since about 2013-2014. In fact, coal consumption began to fall slightly before cement production, suggesting that the fall in coal consumption is the cause of the fall in cement production.

Figure 4. Cement production from the USGS and coal consumption from BP’s Statistical Review of World Energy 2020, divided by population from the World Population Prospects 2019 by the United Nations.

[3] A decrease in new home building in the United States after 2008, as well as the recent difficulty in ramping construction back up again, are further evidence that the world is reaching resource limits of some kind.

Figure 5. New US privately owned single-family housing units divided by US population, multiplied by a constant. This gives a measure of per capita growth in new single-family housing units. Chart prepared by the St. Louis Federal Reserve.

Figure 5, above, shows that the number of new single-family housing units, relative to population, dropped dramatically after late 2005, early 2006. (This was when US Federal Reserve target interest rates rose, leading to higher borrowing costs for both builders and purchasers.) New home building plunged before and during the Great Recession. Building of new units has not ramped up very much, since then.

Even in 2020 and early 2021, the number of new units being started is very low by historical standards. It certainly wouldn’t be surprising if a lack of resources is part of what is depressing new home production. It may also be causing the spurt in resource prices (for example, lumber and copper) when new-home production does try to ramp up.

[4] World oil production seems to be falling for the same reason that China’s coal production stopped growing: Prices are too low for producers because of depletion issues. Oil producers cannot make an adequate profit, so they are reducing production.

Figure 6. World oil production through 2020 based on data of the US Energy Information Administration.

World crude oil production was at its highest level ever in 2018. It has fallen ever since.

Figure 7 shows that oil production has been falling in many parts of the world in recent years.

Figure 7. Crude and condensate oil production for selected areas of the world, based on data of the US Energy Information Administration.

The shining star of crude oil production, at least until recently, has been the United States with its shale oil production.

Figure 8. US crude and condensate oil production for the 48 states, Alaska, and for shale basins, based on data of the US Energy Information Administration.

Unfortunately, with low prices, US shale oil is unprofitable. Shale production fell in 2020, and indications for the year 2021 are down as well.

Worldwide, the oil industry seems to require a price of $120 per barrel or more to make investment in new production profitable, and current prices are far below this. Part of this high price is required to provide adequate tax revenue for oil exporting countries that are dependent on this revenue.

[5] Relative to population, worldwide oil and coal consumption reached its highest level in 2007. It has fallen recently.

Figure 9. World per capita energy consumption, separated between “oil + coal” and all other. Data for 2019 and prior based on BP’s Statistical Review of World Energy 2020. Figures for 2020 reflect percentage changes anticipated by the International Energy Agency in its Global Energy Review 2021.

Figure 9 shows that on a per capita basis, combined oil and coal consumption reached its highest level in 2007 and dipped during the Great Recession. It reached somewhat of a plateau in the 2011 to 2013 period, but started slipping in 2014 and had fallen ever since. Those who follow oil prices closely will notice that combined oil and coal consumption per capita tends to be high when oil prices are high relative to other goods; consumption tends to be low when oil prices are low. The lower per capita oil and coal consumption since 2007 would be expected to hold back the production of “goods” of many kinds, including houses, automobiles, roads and electrical transmission lines.

The “All Other” category is really not a stand-alone category. It depends on oil and coal for its pipelines and electrical transmission, among other things. Without concrete bases, it would be difficult to have wind turbines. Solar panels without steel supports wouldn’t work well either. In theory, if a huge amount of transition were done, perhaps steel and concrete could be produced in reasonable quantities with only the “All Other” types of energy, but someone would need to figure out precisely how this could be accomplished, including the timeframe required.

[6] Inadequate fresh water supplies are a problem in many parts of the world.

The standard approach to getting fresh water has been to tap underground aquifers and tap them at rates far greater than they are refreshed. In some places, this leads to saltwater intrusion; in others, it leads to a falling water table. Some examples of areas with water problems include California, Saudi Arabia, India, China, and Cuba.

There are ways to work around these problems:

  • Digging deeper wells
  • Piping fresh water from a distance, nearly always uphill
  • Desalination

Implementing any of these workarounds for water shortages takes energy of different kinds, mostly coal (to make steel) and oil (for transporting goods and extracting metal ores). These workarounds make the cost of fresh water higher. Higher water costs are especially a problem for agriculture and for poor families, struggling with budgets that cover little more than the price of food and water.

If fixes for the fresh water supply problem cannot be found, irrigation will need to be cut back. Such a change would likely lead to a fall in world food supply.

[7] We are probably kidding ourselves if we think that production of semiconductor chips can be ramped up significantly in the future.

China is now a major producer for rare earth minerals, and it is practically the only processor of rare earth minerals. Semiconductor chips are created using rare earth minerals, water and huge amounts of heat in an exceptionally clean environment. The leading producer of chips is Taiwan, using raw materials from China. There is a long lead time required for building new factories. My concern arises because of the resource issues China and the rest of the world is facing.

We use semiconductor chips in many things, including computers, cell phones, automobiles and “smart” appliances. Without a ramp up in semiconductor chip production, many high-tech dreams for the future will likely remain only dreams.

[8] With a falling supply of coal and oil per capita and inadequate fresh water in many parts of the world, we have already reached the point where some types of “optional” activities need to be cut back.

An early optional activity that was cut back on was recycling. Oil prices fell in 2014, making the recycling of many types of goods, especially plastics, non-economic because the resale value of recycled products dropped with oil prices. China cut back greatly on its recycling efforts, effective January 1, 2018. Other countries have followed suit. China’s cutbacks on recycling allowed it to save its coal supplies (which were no longer growing, see Figures 2 and 4) for other activities that had the possibility of being more profitable.

In early 2020, cutbacks associated with the pandemic gave the world economy some “breathing room” with respect to resource shortages. Cutbacks in travel left more oil for other uses. Oil prices could drop back. This was especially helpful to countries that are big importers of oil, such as those in Figure 10, below. It is not surprising that some of the countries with the biggest oil import problems have been the most enthusiastic about travel cutbacks related to COVID-19.

Figure 10. Quantity of oil imported for selected countries, calculated in barrels of oil per person per year. Oil imports determined based on data from BP’s Statistical Review of World Energy 2020; population is from World Population Prospects 2019 by the United Nations.

[9] The world economy has a very serious resource problem. There seem to be three different approaches to hiding the problem, none of which will really solve the problem.

The serious problem that the world economy is encountering is the fact that the supply of both coal and oil are running short, especially when viewed on a per capita basis. The world is also very short of fresh water. China is affected as much, or more than, other countries by these problems. As a result, China’s future growth prospects are likely quite low, even though few are expecting this change. Without a continued strong forward “pull” from China, the world economy may be headed for “collapse,” a condition which has affected many civilizations in the past.

There seem to be three different approaches to doing something about the world’s resource limits problem, without mentioning the nature of the real underlying problem:

[a] Develop a “fear of future climate change” story by creating models that assume we have huge amounts of fossil fuels that can be burned in the future, even though the evidence is very much the opposite: We are “running out” of coal and oil right now, but in a different way than economists have theorized (low price, rather than high price). At the same time, argue that a transition to renewables (particularly intermittent wind and solar) is possible in the next 30 years. The fact that essential minerals for such a change, including copper and lithium, are themselves in short supply relative to the incredibly large quantities required, is overlooked. No one stops to calculate the true cost, measured in energy products and other materials, required by such a transition, either.

[b] Create a “fear of the coronavirus” story, and use it to keep people inside and away from traveling as much as possible. Emphasize the possibility of mutations. If people cut back on traveling, it saves oil. If they cut back on eating out and large celebrations such as weddings, it reduces food wastage. If a pandemic takes place, politicians can use it as an excuse to mitigate problems of many kinds:

  • Reduce the need for imported oil, by keeping citizens at home
  • Keep factories closed, without disclosing that the factories could not really operate at full capacity because of inadequate orders or missing raw materials
  • Use shutdowns to keep order in areas disrupted by uprisings related to low wages
  • Hide the problem of many failing stores and businesses behind a new “temporary” problem
  • Give the politician a new sense of control with new rules related to the epidemic

It is disturbing that back in 2010, the Rockefeller Foundation was looking at using pandemics to control people when the foundation was examining possible workarounds for too large a population relative to resources.

[c] Hide the existing resource problem with more debt, to the extent possible. In fact, having a circulating coronavirus has assisted in this effort because everyone can see the need for more debt on a temporary basis, “until this problem goes away.” Of course, the resource problem is not going away, which means the world is likely headed for serious financial problems when the economy tries to ramp up again. See my post, Headed for a Collapsing Debt Bubble.

[10] My expectation is that the world economy will try to bounce back from this pandemic, but it won’t really be able to bounce back.

There really aren’t enough resources of any kind to pull the world economy much farther forward. A day of reckoning seems to be coming, probably in the next few months. The financial system looks like it is the weakest link. If the world economy dramatically slows, borrowers will not be able to repay debt with interest. There may be rapid shifts in currency relativities, disrupting derivatives markets. International trade will become less and less possible, perhaps taking place only among a few trusted partners.

We seem to be headed for a rapidly changing world economy, and unfortunately not for the better.

About Gail Tverberg

My name is Gail Tverberg. I am an actuary interested in finite world issues - oil depletion, natural gas depletion, water shortages, and climate change. Oil limits look very different from what most expect, with high prices leading to recession, and low prices leading to financial problems for oil producers and for oil exporting countries. We are really dealing with a physics problem that affects many parts of the economy at once, including wages and the financial system. I try to look at the overall problem.
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3,576 Responses to Don’t expect the world economy to resume its prior growth pattern after COVID-19

  1. Harry McGibbs says:

    “The United Nations said Monday that the Covid-19 pandemic’s impact on the world of work was four times worse than the 2008 economic crisis. The UN’s International Labour Organization said the pandemic had had a “devastating” and even “cataclysmic” effect, as it sought to tackle an uneven recovery from the coronavirus crisis.”

    https://www.macaubusiness.com/covid-far-worse-for-work-than-2008-financial-crash-un/

  2. Tim Groves says:

    A study of adverse effects in Japanese women who received the Covid-19 jab:

    The Ministry of Health, Labour and Welfare (MHLW) initiated tozinameran [the Pfizer jab] vaccinations on February 17, 2021 for healthcare workers. Vaccines other than tozinameran remain unapproved and unavailable in Japan. As of April 18, 2021, an estimated 1.21 million first and 0.72 million second doses of tozinameran have been administered. The MHLW has reported 10 fatal cases (five men and five women) to date. Four of these 10 cases died of intracranial hemorrhage (ICH); all of these were women who died after the first shot. No fatal case with ischemic stroke has been reported. The remaining six cases comprised five men and one woman. The woman died of aspiration pneumonia 4 days after the first shot. The five men died of causes other than stroke, i.e., acute heart failure, drowning, ventricular fibrillation, sepsis, and cardiopulmonary arrest of unknown origin. Here, we describe the histories of the four ICH cases listed on the MHLW website. In three of the four cases, the clinical course and unwitnessed death of a previously healthy woman with unremarkable history or risk factors of cerebrovascular diseases were atypical of the common types of cerebral hemorrhage, e.g., putaminal, thalamic, and cerebellar. No platelet count or other test data were available for three of the four cases because they were found dead at home. Details of the postmortem examination, i.e., imaging and autopsy, were also unavailable.

    Case 1 was a 61-year-old woman with no significant history. She was found dead at home by her husband 3 days after receiving the first shot of tozinameran, with no episode reported in the intervening time. A spinal tap revealed bloody cerebrospinal fluid. Neither autopsy nor postmortem imaging study was performed.

    Case 2 was a 26-year-old woman with no underlying conditions. After the first shot of tozinameran, her subsequent course was unremarkable until she was found dead 4 days later at home. Postmortem imaging revealed a hematoma 3.5 cm in diameter at the left cerebellopontine angle compressing the brainstem and secondary subarachnoid hemorrhage.

    Case 3 was a 72-year-old woman with hepatitis C and dyslipidemia. Three days after the first shot of tozinameran, she developed dysarthria with complaints of headache and nausea. Brain imaging revealed a large hematoma with ventricular rupture. Her platelet count was 216,000/mm3. She died 5 days after receiving tozinameran.

    Case 4 was a 69-year-old woman. No underlying condition was specified. She had been well until she was found dead at home 9 days after the first shot of tozinameran. An autopsy revealed that she died of ICH. No other information was available.

    Case 5 was a 102-year-old woman with chronic heart failure. Ten days before the first shot, she had developed aspiration pneumonia, which was empirically treated with clarithromycin. She died 4 days after receiving tozinameran. Thrombocytopenia was not reported. The cause of death was considered to be aspiration pneumonia, which was revealed by computed tomography. No autopsy was performed.

    Case 6 was a 65-year-old man with an unremarkable history. He was reported to have been well at 18 days after the first shot. He was found dead at home 3 days later when a policeman, informed of his absence from the office, visited to ask for him. Postmortem inspection showed blood coagula in the oral cavity. He was presumed to have died of acute heart failure on the grounds that his living conditions suggested alcoholism and heavy smoking. No autopsy or other postmortem examination was performed.

    Case 7 was a 62-year-old man with hypertension, diabetes, and obesity. He was reported to have taken an unspecified anti-thrombotic drug. On the day after the second shot of tozinameran, he was found dead in the bathtub by a housemate. Autopsy of the lungs revealed the cause of death to be drowning without ICH or any other significant pathology.

    Case 8 was a 51-year-old man with no underlying conditions. He was found apneic in bed at midnight 14 days after the first shot. He was transferred to a hospital, but resuscitation failed. His housemate was informed that he had died of ventricular fibrillation. No autopsy or other postmortem examination was performed.

    Case 9 was a 73-year-old man with chronic renal failure. He had been on hemodialysis for 6 months before the second shot. In the night after the shot, he became febrile with vascular access infections and purulent vertebral osteomyelitis. Thrombocytopenia was not reported. He died of septic shock 8 days later. No autopsy was performed.

    Case 10 was a 37-year-old man. He was reported to have had a history of unspecified arrhythmia, electrocardiographic anomaly, and hay fever. He had been well until he was found dead in bed in the morning 3 days after the second shot. No autopsy or other postmortem examination was performed.

    https://joppp.biomedcentral.com/articles/10.1186/s40545-021-00326-7

  3. Harry says:

    https://www.thelancet.com/journals/lanmic/article/PIIS2666-5247(21)00069-0/fulltext

    “There are many lessons to learn from the way studies are conducted and results are presented. With the use of only RRRs, and omitting ARRs, reporting bias is introduced, which affects the interpretation of vaccine efficacy.”

    Interesting article form The Lancet.

    • A number that might be of interest is “Number Needed to Vaccinate” (NNV) to prevent one case. According to the article,

      “NNVs bring a different perspective: 76 for the Moderna–NIH, 78 for the AstraZeneca–Oxford, 80 for the Gamaleya, 84 for the J&J, and 117 for the Pfizer–BioNTech vaccines.”

      This depends on how much COVID-19 was circulating at the time the study was done.

  4. Fast Eddy says:

    Nice http://covidiot.com/

  5. StarvingLion says:

    Yellen: Higher interest rates are desired.
    Powell: Inflation is transitory.

    Truth: NIRP and long term inflation.

    Remember: Always do the opposite of what they say.

    • davidinamonthorayearoradecade says:

      I agree, NIRP for ever. High inflation until it’s cured by recession/depression.

    • NIRP = Negative interest rate policy

      A combination of a negative interest rate policy and long term inflation is that those with high current bank accounts find their value greatly eroding over time.

      Businesses (such as oil and coal companies) can find investors because it looks like inflation will provide a way out of the profitless business extraction.

      Eventually, this program cannot work. Too many businesses not really profitable. Too many people not willing to work because government programs give them enough funds to stay at home. Too many people unhappy and wanting to overthrow the government.

      I am afraid the cure for this mess will be a breaking apart of the various financial systems of the world. Who can trust whom? It is a question of who can pump up money supply fastest. The US will cease to be the world’s reserve currency.

      • Ivan says:

        “Too many people not willing to work because government programs give them enough funds to stay at home.”

        … because business cannot/willnot pay a living wage.

        • Also, because current government programs (free lunch programs, food stamps, tax-based programs) provide a subsidy to low wages. If workers get a little wage increase (say, $12 per hour to $15 per hour) they lose those benefits. They really need a higher increase to come out ahead.

          • Artleads says:

            Or a more systematic and thorough subsidy. Government should by no remote means be the only entity providing subsidies,

        • Sam says:

          Maybe and who wants to chase all this paper that might be worthless soon? Of course very few people can see that far ahead…yet

      • Harry McGibbs says:

        Current real central bank rates (rate minus inflation):

        Poland: -4.7%
        Brazil: -4.6%
        Saudi Arabia: -4.3%
        US: -4.1%
        Canada: -3.2%
        Chile: -3.1%
        Norway: -3.0%
        Malaysia: -3.0%
        Philippines: -2.5%
        Eurozone: -2.5%
        S. Korea: -2.1%
        Mexico: -1.9%
        UK: -1.4%
        Swiss: -1.4%
        Russia: -1.0%
        India: -0.3%

  6. Ed says:

    https://www.youtube.com/watch?v=laGuOleeeNg

    Small Modular Nuclear Reactors the wave of the future

    • People have been saying that small nuclear reactors are the way of the future for a long time. Without a real track record, I expect that it will be difficult to get local zoning authorities to approve them. i wonder what goes wrong and whom a person calls to get them fixed. How does this add to our spent fuel problem, too?

  7. StarvingLion says:

    Doom Index @ 8 out of 10. Fast Eddy CEP will soon be overshadowed by total collapse of Bitcoin and then the stock market.

    https://www.rogueeconomics.com/bill-bonner-diary/rising-inflation-and-bills-doom-index/

    In La Bubble Epoch, earnings scarcely matter. Some 40% of the stocks in the Russell 2000 Index lost money; no point in adding up zeros. And yet, these companies are often the ones that score the biggest gains.

    What to make of it? What to make of non-fungible tokens (NFTs) and cryptocurrencies? What to make of Beeple?

    And what about MicroStrategy? The company’s revenues had been falling since 2014. Then, last year, it bought more than a billion dollars’ worth of bitcoin… and its share price increased 400%.

    What sense did that make? Did the company just become a convenient way to own bitcoin without having to remember your password?

    But how do investors know that MicroStrategy won’t forget?

    Back in the dot-com bubble, MicroStrategy’s CEO, Michael Saylor, famously proclaimed that “information wants to be free.” Then, in 2000, he paid an $8 million fine to the Securities and Exchange Commission (SEC) for overstating the company’s earnings.

    How do investors know he’s not lying now about bitcoin?

    The first chart below shows our Doom Index levels by quarter. The red bars indicate a reading of 8 or higher. That’s when we raise our “crash alert” flag and tell investors it’s time to prepare for a market crash.

    The last time we raised our “crash alert” flag was at the end of Q2 2019, when the Doom Index hit 8. We stayed in the “Danger Zone” for the next four quarters.

    Economic conditions improved slightly in the second half of 2020, as evidenced by our Doom Index reading dropping to 7 for Q3 2020 and Q4 2020…

    Our recent Doom Index reading – based on the Q1 2021 data – is 8…

    image
    …which means we’re raising our tattered “crash alert” flag.

    image
    […]it appears that the stock market is getting way ahead of the economy…

    Nearly all stock market valuations are at all-time highs, investors are using more leverage, junk bonds are looking riskier, and of course… the feds keep printing.

  8. StarvingLion says:

    Why isn’t Fast Eddy talking about this??? OMG they are going to “SPACE” again in their CGI “six-seater crew capsule”. Just another Tesla-like Ponzi booking ***future*** flights huh?

    Jeff Bezos will be on board Blue Origin’s New Shepard rocket when the company launches its first crewed space flight on 20 July.

    The billionaire and CEO of Amazon, who founded Blue Origin in 2000, announced on Instagram that he will be joined on the flight by his brother, Mark Bezos.

    “Ever since I was five years old, I’ve dreamed of traveling to space,” wrote Jeff Bezos. “On July 20th, I will take that journey with my brother. The greatest adventure, with my best friend.”

    New Shepard has flown 15 test flights since its first launch in 2015, all of them without crew. The planned flight will take it about 100 kilometres above the ground, marking the edge of space, where the six-seater crew capsule will detach.

    The capsule will float for about 3 minutes in microgravity, where the crew can unbuckle their seats, before coming down to land about 10 minutes after launch.

    Last month, Blue Origin announced that it was auctioning one ticket for the flight, with proceeds going to its Club for the Future foundation. The bidding currently stands at $2.8 million, with the auction set to conclude on 12 June.

    The company is reportedly planning to sell tickets for future New Shepard flights for a price between $200,000 and $300,000.

    “I wasn’t even expecting him to say that he was going to be on the first flight, and then when he asked me to go along I was just awestruck,” Mark Bezos said in a video posted on Instagram.

    Read more: https://www.newscientist.com/article/2279982-jeff-bezos-will-be-on-board-blue-origins-first-crewed-space-flight/#ixzz6xA0DE3IA

    • davidinamonthorayearoradecade says:

      the Space Shuttle flew about 130 missions, and one blew up on takeoff and one on reentry. That death rate is 1.5%.

    • Azure Kingfisher says:

      I’ll say it now for posterity: if Jeff Bezos is looking to retire from public life and live quietly then this launch is the perfect opportunity for him to fake his death.

      If the rocket blows up, keep an eye out for any inconsistencies in the mainstream narrative account of the alleged tragedy. The entire story will rest on the verifiability that Bezos was actually in the rocket during the explosion. Will you be able to prove to yourself that he was in the rocket? Or, conversely, that he wasn’t? That’s why this launch is the perfect opportunity if he’s looking to disappear.

      • davidinamonthorayearoradecade says:

        yippee, a new CT coming in July.

        • Azure Kingfisher says:

          Well, should the rocket explode, at least consider the above as a possibility before immediately parroting the New York Times’ account of the alleged tragedy. 😉

          Belief is like currency and collectively we are rich with it. We would do well to practice discernment before investing our belief into any narrative. If we weren’t so easily bought off the narrative peddlers wouldn’t spend as much time as they do propagandizing us.

          • davidinamonthorayearoradecade says:

            the problem is usually not “we” at OFW. It’s those other 7+ billion.

      • Bei Dawei says:

        And if he *does* appear to survive, it may be a “crisis actor” that looks just like him.

        Remember how Lee Harvey Oswald was two different heights? How can we be sure that the Bezos walking around now, wasn’t replaced as a baby, with another child who had the same name?

        • NomadicBeer says:

          Absolutely Bei, people here are too conspiratorial.
          Remember last year when they said that the virus escaped from a lab? How ridiculous.

          Luckily we have people like you to set us straight!

      • Student says:

        Azure Kingfisher you bring an interesting intuition.
        But I think that he will not be on the rocket because he doesn’t want to risk his life and at the same time he doesn’t want to pretend to be dead.
        I explain my point:
        in fact, trusting that everything will go on well, this launch will be a fantastic marketing opportunity to promote this stupid leisure activity for rich people.
        In case the launch will turn badly he can always say that he decided at last minute to quit for other important appointments or he can always decide to retire from public life pretending to be dead. But I think that rich people can always retire from public life and go on doing whatever they want, without pretending to be dead, which is a complicated and annoying downside.

        • Azure Kingfisher says:

          That’s a good point, Student, and you bring up another valid possibility. He could stay grounded and use the story of he and his brother going to space as a marketing tool.

          On the subject of the rich (or anyone else) faking their deaths, a few motives off the top of my head:

          – Insurance fraud
          – Escaping debt
          – Going into undercover work with either law enforcement, military or intelligence
          – Going into protective custody
          – Musicians escaping undesirable contracts
          – Fraternity ritual (“For Odd Fellows, the degrees in Odd Fellowship emphasize a leaving of the old life and the start of a better one” – Wikipedia)
          – Public figures desiring anonymity and the quiet life
          – Celebrities getting “cancelled” by their handlers if they become too unreliable (e.g. addicted to drugs, suffering from mental health issues, etc.). Can’t have your celebrity product malfunctioning (Brittany Murphy may be one example).
          – Aging and ill public figures who would rather die privately, away from public scrutiny (Robin Williams may be one example).

    • I expect that there are more than a few people hoping it will crash this time.

  9. StarvingLion says:

    “Meanwhile, speaking of crashing financials, the Bank of International Settlements’ (BIS) Basel 3 net stable funding requirement goes into effect before the end of June. That’s a mouthful, I know, but the net effect will be the demise of the “paper” gold markets that have been used by interested parties to queer the gold price and thus protect the value of the dollar for decades. Combine that move with the — what? — $11-trillion that “Joe Biden’s” handlers seek to print-up and distribute the next year or so and it kind of looks like the US dollar should be given last rites. Prepare to reset yourselves to flat broke.” Kunstler
    …………….

    So the NWO-clowns aim for the reset, undaunted by the now fading lines for vax-poison, and a potential hundreds of millions of pissed off walking dead and likely checking every mansion, yacht and hole in the ground for the mass death planners. If any of the vax-death guesstimates are anywhere close, the witch burning events of the middle ages will be like a boyscout jamboree in comparison to the elite-hunting bloodsport likely to emerge from the fallout of the de-population vax bio-weapon fallout. How many military hoi-poloi, of all ranks who’ve been ‘marked for death’ will be using every intelligence and train assassin available to extract justice might there be. Paging soros, and gates, would you like a blindfold, perhaps a last cigarette?

    • davidinamonthorayearoradecade says:

      yes that is the CT. There is now no evidence of tens of millions who will die soon from the jabs. It’s entirely theoretical right now. Perhaps some scientists have good theoretical grounds to propose tens of millions will die soon, but it is far far far from certain as of now.

    • The net stabile funding requirement is based on the Net Stable Funding Ratio (NSFR).

      The NSFR is expressed as a ratio that must equal or exceed 100%. The ratio relates the bank’s available stable funding to its required stable funding, as summarised in the following formula:

      https://www.bis.org/fsi/fsisummaries/nsfr_formula.jpg

      To determine total ASF and RSF amounts, factors reflecting supervisory assumptions are assigned to the bank’s sources of funding and to its exposures, with these factors reflecting the liquidity characteristics of each category of instruments.

      While the idea sounds good on an individual bank basis, the catch is that there are not enough of the required types of collateral securities to have on hand, in the aggregate, so it can’t really happen, I expect. Or maybe some can be created in great quantity, with inflationary effect, to supposedly satisfy this requirement.

      https://www.bis.org/fsi/fsisummaries/nsfr.htm

  10. Tim Groves says:

    Rosa Koire has died of lung cancer.

    In this talk, Rosa breaks down the big picture behind Agenda 21/30 and The Great Reset and joins lots of dots that most of you never knew existed, but they are impacting your life anyway.

    • davidinamonthorayearoradecade says:

      here’s my intentionally oppositional take. The UN has very little power in the world. The only way a UN balh blah blah agenda would have some traction is if most of the major players in the world, commonly called “countries”, actively bowed to the UN agenda. It would help also if the mega corps and billionaires also agreed. NO chance. Across cultures and individual differences of opinion between Elites, there is little worry that they could agree enough on such an Agenda. Rosa probably died of paranoia.

      • NomadicBeer says:

        ‘major players in the world, commonly called “countries”’

        I think we are way past nations. When the rich have trillions of dollars and the control of printing presses in most of the world, they can buy/manipulate/kill any country they want.

        So the question is: can the oligarchs cooperate and to what extent? If they can, they can basically change the world in one year.

        • davidinamonthorayearoradecade says:

          just look at the disagreement level here at OFW. No, oligarchs are not going to be of one mind.

          • NomadicBeer says:

            I didn’t say “of one mind”. I said cooperate.
            When workers start an union or a strike they are definitely not “of one mind” – but they can see they have common interests and they cooperate.
            You have never seen people sharing class interests?
            I wonder if you really are that naive.

    • davidinamonthorayearoradecade says:

      having said that, the “Truth” is probably somewhere in between. But I was filtering all she was saying through the ideas of diminishing resources especially FF. I doubt she knew enough about energy issues to realize that any proposed Agenda is probably doomed to failure for the simple reason that net (surplus) energy is decreasing.

      • Tim Groves says:

        I’m not going to give an opinion on how wrong she was since I know a lot less about the subjects at hand that she seemed to know. I was only putting her talk out there in the fond hope that at least some people could learn something from her. For instance, the people in Canada who are currently perplexed by the totalitarian aspirations of the Trudeau regime might find some clues to Justin’s motivations from what Rosa has been saying for decades.

        Having you slag her off as paranoid was an unexpected bonus for me. Although I shouldn’t have been surprised. There is always somebody out there bursting to pour scorn on anyone who’s views don’t match those of the mainstream, don’t you find?

        • davidinamonthorayearoradecade says:

          yup I was full grumpy old man there. I was trying to say that there probably was some “truth” in what she had to say, but it’s hard to find it between the extremes of MSM and CT.

    • Xabier says:

      Some might call what Rosa says ‘a paranoid CT’; but there is nothing which is not founded in fact, and which is not confirmed by the events of the last year, and the clear trend of government propaganda policies, which are so strangely in harmony……almost everywhere!

    • MM says:

      I am very sad about her death.
      I think she was way ahead of her time and she really tried to make it simple to go against “it”.
      This is her last blog post:
      https://www.democratsagainstunagenda21.com/the-way-we-see-itour-blog

      I searched google for the “death notice” but: nothing.
      We humans are “nothing” to this death machine.

      If you happen to know where you got the death notification from, I would really appreciate if you sent a Link.

      Rest in Peace!

    • I listened to part of this. We certainly have people trying to get their agenda (and control) put into place around the world.

      I am hoping that with less funding, these plans will disappear.

  11. StarvingLion says:

    Bitcoin is COLLAPSING again…dropped below 35K.

    Sell your house…its over.

    • Sam says:

      Nope not yet…..bitcoins will be back up by tomorrow

    • Fast Eddy says:

      But I ran up all my credit cards to the limit taking enough cash advances to buy 3 Bitcoins at 50k+…. And then when it went to 60K+ I spent the gains on a downpayment on a Ferrari … expecting to be able to pay the balance in cash when BC hit 500k ….

      OMG — what will I do now??????

    • davidinamonthorayearoradecade says:

      fakeyfake virtual asset drops 5%! so sell your rural house and pay rent in a city. Because…

  12. MightyMonk says:

    “World’s coal producers now planning more than 400 new mines -research”

    “The world’s coal producers are currently planning as many as 432 new mine projects with 2.28 billion tonnes of annual output capacity, research published on Thursday showed, putting targets for slowing global climate change at risk.”

    https://www.reuters.com/world/china/worlds-coal-producers-now-planning-more-than-400-new-mines-research-2021-06-03/

    • The argument will go on. China and other countries will put in place coal mines, if there is any chance the price of coal (including shipping) will be high enough to financially support the new mines. Climate change is not a consideration at all.

      The electric cars in China are simply because China has lots of coal; it has to import oil. Electric cars work for China, much better than oil-powered cars. China will use whatever energy source can be made economic.

      The climate change story is only believed by the countries that are running out of fossil fuels in the near term. Of course, the climate change story is based on the opposite happening – huge amounts of fossil fuels being available in the future. Coal from under the North Sea, for example. It is a crazy situation.

      • Mike Roberts says:

        What climate change story are you referring to, Gail? We know that enough fossil fuels will be burned to raise temperatures beyond 1.5C over pre-industrial times, possibly even over 2C. The current problems and future problems do not need huge amounts of fossil fuels to be available in the future.

        • That is quite possibly true. Apart from killing ourselves off even sooner than a collapse would kill us off, I see no way that the problem can be fixed, however. We seem to think we have powers to do things that we don’t have the ability to do.

          • Mike Roberts says:

            I agree, Gail.

          • Fast Eddy says:

            Another CEP acolyte…. welcome on board!!! Geert and Luc are at the bar… Byram’s over in the corner trying to convince Mike.

          • Dennis L. says:

            Assume the problem cannot be fixed; what are possible courses of action?

            Borrow money at very low interest rates and purchase items some of which may have long term value?

            Purchase stocks knowing they will go up but most likely the nominal costs of essentials will increase more rapidly?

            Dennis L.

        • NomadicBeer says:

          “possibly even over 2C” – let me guess, you based this on those famous models?
          Of course if we look at the geological past, when CO2eq was over 500ppm (like now) we had crocodiles in Canada, palm trees in Northern Europe and a giant desert in the middle of US. Oh, and the temperature was at least 4C higher.
          But let’s ignore that and pretend we “can do something!”

          The logical approach is to realize humans have no more free will than the oxygenating bacteria – we will leave behind us a very different planet.

          • Mike Roberts says:

            let me guess, you based this on those famous models

            No models needed. It only needs to be based on paleoclimate data. This shows ESS of 3.4C for a doubling of CO2. A few years ago, the warming was around 1.1C or 1.2C, with a 40% increase in CO2. Another 40% increase, on top of that (making 100% increase on preindustrial), would yield similar warming, so we’d expect at least 2.2C, in the short term, but longer term, the data show warming would reach over 3C. We’re now at more than 50% above preindustrial and it would take approximately 40 years of current emissions to reach that doubling of CO2 in the atmosphere. However, that doesn’t take into account other greenhouse gases, so a C02 equivalent doubling would take much less time (maybe 20 years).

            Of course, optimistic projections gives us a few decades to avoid 2C but that involves modeling.

            Do you have an alternative calculation?

            Interesting thought about past CO2 and temp. When were those temps and CO2 levels? Any link? It won’t have been in human times but, if correct, it suggests that we will already be heading for 4C, at current GHG levels.

            • NomadicBeer says:

              They are only looking at the CO2 – CH4 is much higher today because of human activities.
              Calculations of CO2eq vary but they are definitely higher than 500ppm and as high as 700ppm.
              In general, CH4 levels are quite low in the atmosphere except during large geological upheavals (or human caused crises).

              I won’t bother to find the peer reviewed papers again, it will take some digging.
              But, what does it matter? It’s going to be a fun ride anyway.

          • Fast Eddy says:

            Oh gawd… I thought we’d demonstrated GW and the Moon Landings are hoaxes… Mike … get with the program….

            • NomadicBeer says:

              Fast Eddy,
              think about this for a minute.
              Moon Landing was a small set of events in a tightly controlled environment.

              GW is a global phenomenon that was studied for more than 150 years (see Arhenius for example).

              That does not make GW estimates correct – for example during many previous geological eras CO2 lagged behind the warming (caused by Milankovitch cycles).

              But I am convinced GW is not a conspiracy – even though it has been using as a political tool for so long, it’s hard to figure out what the truth.

            • Fast Eddy says:

              If a massive meteorite was headed for Earth and was going to end life in 10 years … do you think that would get front page news on a regular basis?

              Think long and hard if you are considering saying yes….

        • Tim Groves says:

          The actual data from Roy Spencer says it was warmer in 1988, 1991 and 2, 1998, and many years of the present century. And the world is 0.5 degrees C cooler now than it was in 2016.

          https://i1.wp.com/www.drroyspencer.com/wp-content/uploads/UAH_LT_1979_thru_May_2021_v6.jpg

          Might I suggest that perhaps your climate change story is a false narrative you’ve been bamboozled to believe in, and that if you really studied the science, the data, the propaganda effort and the money trail earnestly and with sufficient assiduity, you might achieve enlightenment, experience a rapture, or have one of the eureka moments like Doc did in Back to the Future when he suddenly realized how the flux capacitor made time travel possible?

          • NomadicBeer says:

            Yes, dismiss everybody but listen to that one guy that agrees with you – that’s the scientific method!

            Incredible that this false narrative was concocted more than 150 years ago and it still thrives.

            • Fast Eddy says:

              Or use common sense… there has been GW over very short periods… long before man started burning coal.

              Duh

            • Timh Groves says:

              Come on, don’t be shy. Please give us your take.

              My take is that the global averages created from the surface temperature records are unreliable, and that the satellite-based records such as the one at UAH managed by Roy Spencer are the most accurate measures we have.

              Spencer doesn’t agree with me. I accept the record that he manages as accurate because it agrees with my own observations. And I’ve been observing climate for over forty years.

              Can you find any actual observational data anywhere that indicates the planet has warmed by more than about 1 degree C over the past century? Inquiring beachfront property owners want to know when they can expect to be submerged.

              And what the heck does it matter to anybody what the average global temperature is in any case when nobody lives on the average globe? Purely hypothetically, if Antarctica (3% of the world area) was magically measured as 33 degrees C colder, then the world’s average temperature would drop by 1 degree C without any change anyone else’s local temperature.

              I’m not looking for a debate. I’m just banging you on the head with a rubber mallet and screaming at you to use the brains God gave you!!!

            • Fast Eddy says:

              LEO demands to know!

          • Fast Eddy says:

            The closest I can get to this https://www.youtube.com/watch?v=bdQHKf48Mfw&t=1921s

            For CG is https://www.euronews.com/travel/2019/05/31/leonardo-dicaprio-will-open-revolutionary-eco-resort-in-belize-in-2020

            Now why would someone who believes GW is going to raise sea levels (and is a key spokesman)… build this?

            https://static.euronews.com/articles/stories/03/92/77/28/808x454_cmsv2_a98d90ef-dfde-5a47-a84e-5f7bd0ee602d-3927728.jpg

            Let’s hear the excuses Green Groopies… best excuse gets a gold medal!

          • Mike Roberts says:

            Tim, might I suggest something to you? Don’t look for individual pieces of data that fit your thinking. Even in the data set that Roy Spencer maintains (which is way off all other global temperature datasets, and does NOT describe temperature on the surface), the world is warming. Pointing out the odd anomalous year, does nothing to alter the underlying trend, which is up.

            It’s good that you posted the only data you can find which is closest to your view but still show that the Earth is warming.

            • Fast Eddy says:

              Can you post some more MSM spew about how the Earth is worming?

              Because as we know … the MSM is a font of truth.

      • NomadicBeer says:

        “The climate change story is only believed by the countries that are running out of fossil fuels in the near term.”

        I don’t buy that for a second. The western countries have used the excuse of CC first to bully the developing countries (remember when they were trying to force limits on China’s development?) and then to excuse problems at home (due to ffs shortages/price).

        CC is a gift to the leaders of the rich countries. The so-called liberals give away money to the banksters (carbon-tax) under the pretense of doing something(!).
        At the same time the fake opposition riles up their constituencies blaming CC on the loss of jobs (when it’s their policies that do that).
        What’s not to like?
        Oh, and let’s not forget the rich and famous flying private jets to climate conferences where they debate how much should regular people sacrifice, to save the world.

        https://www.foxnews.com/entertainment/google-summit-attended-by-hollywood-stars-slammed-as-hypocritical

    • Fast Eddy says:

      Hilarious!!!d What say yee Green Grooopies?

      China, Australia, India and Russia account for more than three quarters of the new projects, according to a study by U.S. think-tank Global Energy Monitor. China alone is now building another 452 million tonnes of annual production capacity, it said.

      “While the IEA (International Energy Agency) has just called for a giant leap toward net zero emissions, coal producers’ plans to expand capacity 30% by 2030 would be a leap backward,” said Ryan Driskell Tate, Global Energy Monitor research analyst and lead author of the report.

      • NomadicBeer says:

        I propose a new index of collapse: countries that keep blabbing about CC/AGW are past their resource and economic peaks and they are trying to drag others down with them.

        China is already making some noises about CC so I wouldn’t be surprised if they reached peak coal (or will soon).

        BTW, that has nothing to do with the truth or impact of CC – if an asteroid would be detected that will hit Earth in 1 year, I bet the politics as usual would still continue until the last day, with psychopaths trying to get richer and normies debating socccer/football games.

        • China definitely has a problem with peak coal. They have a great deal of trouble keeping the price high enough to avoid production from plunging. Technically, they won’t be past the peak, until the plunge begins.

    • Minority Of One says:

      Presumably these coal fields would have been exploited long ago if there was not something less than 100% about them (size, depth, quality etc). As Gail often states, higher prices required, which the coal mine developers must believe are here to stay / on the way. Not sure that we will need this coal if the vaxxines kick in this winter.

  13. Ed says:

    Their ability to turn the narrative on a dime is awesome. Bat soup no no bio-weapons lab.

    Where do they go from here? Nuke China? that makes no sense Biden is their puppet. Nuke Russia jest because we say so. Makes more sense of CCP deepstate.

  14. Mirror on the wall says:

    China is projecting confidence and wisdom – “circumstances triumph any person”.

    > China’s May trade data shows economy votes with its feet for geopolitics: Global Times editorial

    Data released by the General Administration of China (GAC) on Monday showed that the country’s exports grew 27.9 percent year-on-year, while imports climbed by 51.1 percent in dollar terms in May. Exports and imports increased by 23.4 percent and 26.4 percent compared with the same period of 2019.

    … The laws of economics are also stronger than the will of some politicians in the US and other countries who advocate “decoupling.” This is just like a Chinese saying that “circumstances triumph any person,” which is also strongly demonstrated in the GAC data.

    China’s exports to the US increased by 38.9 percent from January to May, which is higher than the average increase in China’s foreign exports. In addition, trade between China and India increased by 70 percent from January to May. Both China-US and China-India relations have fluctuated greatly over the past two years, but trade has grown substantially against the trend. This is a clear example that the economy has voted with its feet for geopolitics.

    …. Since the outbreak of the COVID-19 pandemic, the production capacity of commodities worldwide has been hit one after another, and China has become the most stable global production center. This has increased the global market’s trust in Chinese partners. Since China has become the largest trading partner of more than 120 countries and regions, it has greatly increased China’s room for maneuvering against non-market fluctuations. The stability of China, as an international trade center, has been continuously consolidated among these factors.

    …. Friendliness is conducive to business success. This is well-known business wisdom in China. We want to send this to some of the amateur economic decision-making elites who consider too much about politics in economic and trade issues.

    https://www.globaltimes.cn/page/202106/1225652.shtml

    • When I look up Global Times in Wikipedia, I find:

      The Global Times is a daily tabloid newspaper under the auspices of the Chinese Communist Party’s flagship People’s Daily newspaper, commenting on international issues from a nationalistic perspective. The newspaper has been the source of various incidents, including fabrications and disinformation.

      The publication has been labelled as “China’s Fox News” by some scholars and writers for its propagandistic slant and the monetization of nationalism. It is part of a broader set of Chinese state media outlets that constitute the Chinese government’s propaganda apparatus. The Global Times has published COVID-19 misinformation and conspiracy theories.

      So I think that there is some self-congratulations in this article that is probably more than warranted.

      At the same time, I am surprised that trade seems to be up as much as it is. I think that this part is mostly B.S.:
      “Friendliness is conducive to business success. This is well-known business wisdom in China. We want to send this to some of the amateur economic decision-making elites who consider too much about politics in economic and trade issues.”

      I think we need to watch out for issues that have been spun to favor China. Numbers may even be distorted.

      • Mirror on the wall says:

        Maybe, it is hard to say. All of the other news outlets, including the financial ones, seem to accept China’s figures at face value. The difference lies in whether they present those figures as positive or not. Perhaps there are checks in place to verify data. I really could not say.

        I accept that GT is state/ party propaganda – what newspaper is not? Every outlet has its biases. Whether they just make up figures is another matter though. There is no point in releasing figures if no one believes them, so there is always that motive to be honest. It would be very poor propaganda that lost trust in its figures.

        I assume that the figures are correct, unless there is good reason to think otherwise. Everyone else seems to act likewise.

      • Sam says:

        To double check if trade is up doesn’t one have only to look at fuel consumption? Higher consumption higher trade

        • Harry McGibbs says:

          “There is no point in releasing figures if no one believes them, so there is always that motive to be honest.”

          You would imagine that trade data would be a bit easier to confirm as it occurs between two nations, with one potentially being able to call the other’s bluff.

          China has a terrible reputation for opacity and for manipulating economic data though. It is an open secret. Part of the problem is that state officials are under pressure to meet targets if they want to advance in their careers, which is not always conducive to honesty(!).

          In 2017 the Governor of Liaoning confessed to cooking the province’s books, saying, “Officials produce the numbers, and the numbers produce officials.”

          Li Keqiang has openly admitted that China’s GDP is suspect, hence the creation of the “Li Keqiang” economic index, which looks instead at railway cargo volume, electricity consumption and bank loans to get a more accurate picture of economic activity.

          In 2016 World Economics had a go at rating all nations according to the reliability of their GDP statistics. China ranked 63rd:

          “It’s no surprise that the poorest economies gravitate toward the bottom… China, whose GDP figures are distrusted to the extent that some economists look at other data for the economic pulse, ranks 63rd…

          “”…our China Index is showing much more muted levels of growth in the region of about half the official data suggests.””

          https://www.bloomberg.com/news/articles/2016-01-05/is-there-such-thing-as-reliable-gdp-data-

          • Dennis L. says:

            Economically, it seems to have worked, the increases are so large as to dwarf any inaccuracies.

            https://www.youtube.com/watch?v=CwL_C5FXkN4

            This fellow has some incredible videos of China, their cities appear impressive and the Three Gorges Dam did not fail, it held.

            Hard work and a good education are hard to beat, Japan did very well without resources, Amerindians no so much.

            Life is a journey.

            Dennis L.

    • I think that this is an explanation of what is happening, from an article on Zerohedge:

      https://www.zerohedge.com/economics/peter-schiff-warns-its-double-whammy

      The weakness of the economy will create even more inflationary pressure.

      The weaker the economy is the more money the Federal Reserve prints to artificially stimulate it. That is inflation. So, the longer the Fed continues to print money, the more upward pressure is put on prices.”

      There is a double whammy.

      As people are not productively employed, they are producing fewer goods or providing fewer services for people to buy. And then the Fed simply creates money for those people to spend. So, in a weak economy, you have two things happening at the same time. You have more money being created out of thin air and given to Americans to go out and buy stuff. But at the same time, fewer Americans are actually working to produce the stuff to buy.”

      So, what does that mean?

      It means we have more money chasing fewer goods. For now, the goods-gap is filled by imports, and that’s why we have these surging trade deficits and this big bottleneck of container ships off the coast that are queued up. But this put even more upward pressure on prices — so it’s stagflation. And these economists, these market strategists, they still don’t get this. And when they do, that’s when we’re really going to see the explosive move up in the price of gold and a real collapse in the value of the dollar.

      There is another Zerohedge article talking about China trying to stop the appreciation of the Yuan:

      https://www.zerohedge.com/markets/mysterious-85-billion-surge-chinas-fx-reverse-repo

      China doesn’t want its currency a whole lot higher. This will cut off its exports to other parts of the world.

  15. Ed says:

    The focus of our research is the creation of a lifelong learning system that is able to gradually accumulate knowledge, effectively re-use such knowledge for the learning of new skills, in order to be able to continually adapt, invent its own goals, and learn to achieve a growing, open-ended range of new and unseen goals in environments of increasing complexity.

    https://www.goodai.com/goodai-research-roadmap-2021-2022/

    • Ed says:

      The goal of GoodAI is to build safe general AI – as fast as possible – to help humanity and understand the universe. Our long-term vision is to augment human capabilities with “scientist AIs” and “engineer AIs”, to be able to address humanity’s most dire problems that otherwise would have taken many human generations to solve (one can argue, we can’t afford ourselves infinite time). In our understanding, the lifelong learning system with properties we describe further down is the cornerstone of general AI.

      The future is so bright I have to wear shades

  16. Ed says:

    Duncan and Fast this one is for you

    The goal of GoodAI is to build safe general AI – as fast as possible – to help humanity and understand the universe. Our long-term vision is to augment human capabilities with “scientist AIs” and “engineer AIs”, to be able to address humanity’s most dire problems that otherwise would have taken many human generations to solve

    https://www.goodai.com/goodai-research-roadmap-2021-2022/

  17. Jack S. says:

    Cletus, I think Murray made a very deliberate statement since this is all theatre and jokery to the elites. Obesity appears to be sanctioned as a normal progression of life now in order to keep the populace fat, greasy, and sick.

    Anyway, who let the hogs out?! Hogs gone wild! Trust the Health Experts! [Ol’ Maggie is in Belgium, not Denmark.]

    https://twitter.com/ToneVays/status/1337540940228128770/photo/1

  18. The WSJ has an opinion article that seems hard to ignore:

    The Science Suggests a Wuhan Lab Leak
    The Covid-19 pathogen has a genetic footprint that has never been observed in a natural coronavirus.

    A genome is a blueprint for the factory of a cell to make proteins. The language is made up of three-letter “words,” 64 in total, that represent the 20 different amino acids. For example, there are six different words for the amino acid arginine, the one that is often used in supercharging viruses. Every cell has a different preference for which word it likes to use most.

    In the case of the gain-of-function supercharge, other sequences could have been spliced into this same site. Instead of a CGG-CGG (known as “double CGG”) that tells the protein factory to make two arginine amino acids in a row, you’ll obtain equal lethality by splicing any one of 35 of the other two-word combinations for double arginine. If the insertion takes place naturally, say through recombination, then one of those 35 other sequences is far more likely to appear; CGG is rarely used in the class of coronaviruses that can recombine with CoV-2.

    In fact, in the entire class of coronaviruses that includes CoV-2, the CGG-CGG combination has never been found naturally. That means the common method of viruses picking up new skills, called recombination, cannot operate here. A virus simply cannot pick up a sequence from another virus if that sequence isn’t present in any other virus.

    Although the double CGG is suppressed naturally, the opposite is true in laboratory work. The insertion sequence of choice is the double CGG. That’s because it is readily available and convenient, and scientists have a great deal of experience inserting it. An additional advantage of the double CGG sequence compared with the other 35 possible choices: It creates a useful beacon that permits the scientists to track the insertion in the laboratory.

    Now the damning fact. It was this exact sequence that appears in CoV-2. Proponents of zoonotic origin must explain why the novel coronavirus, when it mutated or recombined, happened to pick its least favorite combination, the double CGG. Why did it replicate the choice the lab’s gain-of-function researchers would have made?

    • Ed says:

      What about samples from the North Carolina lab and the Canadian lab do they show the same?

    • Sam says:

      What is scarier: the manipulation of the virus , the reaction to the virus or the implications of shutting down the economy

      • Sam says:

        Personally, I think investing in the market when it’s trading at 35x forward earnings is a fantastic investment strategy.🤣

        • Surely it will rise to 70x forward earnings!

          • houtskool says:

            The real fun starts as soon as depreciation of the currency exceeds the profit in stocks.

          • Dennis L. says:

            Gail,

            It may well advance 70x, the problem is the value of the dollar will decline 75x, hard to find a game to play in this environment.

            Oops, houtskool has that idea below.

            Dennis L.

        • Herbie R Ficklestein says:

          Thank you, Sam, I’m all in, what’s the saying “Don’t fight the Fed”
          Up to now Ive lost count on the zeros at the end of my Financial statement…to the moon..got to go….Elon Musk is tweeting me!

    • I see that the WSJ has another story up on the front page of its online version. It is probably intended for tomorrow morning’s paper:

      U.S. Report Found It Plausible Covid-19 Leaked From Wuhan Lab
      The 2020 lab report was used by the State Department in its own inquiry during Trump administration

      A report on the origins of Covid-19 by a U.S. government national laboratory concluded that the hypothesis claiming the virus leaked from a Chinese lab in Wuhan is plausible and deserves further investigation, according to people familiar with the classified document.

      The study was prepared in May 2020 by the Lawrence Livermore National Laboratory in California and was drawn on by the State Department when it conducted an inquiry into the pandemic’s origins during the final months of the Trump administration.

    • postkey says:

      “I remember the headlines of many months ago and there was the fact that six months before the Wuhan outbreak, strings of COVID RNA data were found in the sewer water in France. Oh NO!
      Then, in November, people in France had tested blood positive for COVID weeks BEFORE the Wuhan outbreak. A better argument could be made that France was the source of the COVID outbreak.”
      https://www.facebook.com/JoseBarbaNueva/posts/10224661621785467

    • Minority Of One says:

      The MSM have had evidence that the virus was manipulated / released from the Wuhan lab for well over a year. Why are they making an issue of it now? Seen a few suggestions but none that were convincing. Same with Fauci’s emails which of course are linked.

  19. Ed says:

    “Unless we put medical freedom into the Constitution the time will come when medicine will organize itself into an undercover dictatorship. To restrict the art of healing to doctors and deny equal privileges to others will constitute the Bastille of medical science. All such laws are un-American and despotic.” ~ Attributed to Dr. Benjamin Rush, Signer of the Declaration of Independence

    • I am afraid it is not as easy as allowing people without medical licenses to practice medicine.

      People with medical licenses all too often “steer” patients into medically unnecessary procedures. COVID-19 vaccines might be included in this category. But people without medical licenses are likely to do much the same thing.

      Of course, if there are medical authorities demanding a certain immunizations, then licensed providers will tend to follow the requirements, for fear of losing their licenses.

      • Dr. Feelgood says:

        Hospital patient dies after security guard performs surgery

        A woman died after an ex-security guard at a Pakistani hospital posed as a doctor and performed surgery on her, police said Monday.

        Shameema Begum, aged 80, died on Sunday, two weeks after Muhammad Waheed Butt attempted to treat her back wound at a public hospital in the eastern city of Lahore.

        “We can’t keep up with what every doctor and what everyone is doing at all times. It’s a large hospital,” explained an administrative official from Lahore’s Mayo Hospital, who did not want to be named.

        https://www.france24.com/en/live-news/20210607-hospital-patient-dies-after-security-guard-performs-surgery

        • JMS says:

          Well…

          “A 2004 report of inpatient deaths associated with the Agency for Healthcare Quality and Research Patient Safety Indicators in the Medicare population estimated that 575 000 deaths were caused by medical error between 2000 and 2002, which is about 195 000 deaths a year. Similarly,the US Department of Healthand Human Services Office of the Inspector General examining the health records of hospital inpatients in 2008,reported 180 000 deaths due to medical error a year among Medicare beneficiaries alone.Using similar methods,Classen et al described a rate of 1.13%. If this rate is applied to all registered US hospital admissions in 2013 it translates to over 400 000 deaths a year, more than four times the IOM estimate.”

          https://www.hcp.med.harvard.edu/sites/default/files/methodsmakarydaniel_2016_bmj%20%281%29.pdf

  20. Cletus says:

    Fast Eddy said: But in truth, the evidence has been accumulating for years that exercise, while great for health, isn’t actually all that important for weight loss.
    ——————–
    Correct. Diet is the answer. However, most people would rather just keep eating and follow the example of my state’s obese former health secretary, Rachel Levine, now assigned to an even higher position.

    Inadvertent hilarity from Senator Murray on Levine’s appointment: “I’ve always said the people in our government should reflect the people it serves . . . ”

    https://www.npr.org/2021/03/24/980788146/senate-confirms-rachel-levine-a-transgender-woman-as-assistant-health-secretary

    • Herbie R Ficklestein says:

      No exercise isn’t that all important to weight loss
      https://www.letsdothis.com/blog/7-benefits-of-running-for-just-30-minutes/

      RUNNING
      7 BENEFITS OF RUNNING FOR JUST 30 MINUTES
      by Ariane de SelliersMarch 5, 2019 7 comments
      Think you don’t have time to train today? Think again. Research shows that just 30 minutes of running can have huge benefits on your short-term and long-term health. Here are the top 7 reasons to lace up your shoes and squeeze in that run today.

      1. BURN FAT
      Studies across the board show that running for just 15-30 minutes will kick-start your metabolism and burn some serious fat, both during and after the exercise itself. That’s because during a shorter run, your body will use fat as its primary power source, rather than relying on the carbohydrates that play a bigger role as exercise intensity increases.

      You’ll also keep burning fat long after your run. After intense physical activity, your body goes into EPOC mode (excess post-exercise oxygen consumption), where it uses the energy from fat and carbohydrates to restore itself to its pre-exercise state. EPOC can last from 15 minutes to a whopping 48 hours; so that 30 minute run could keep you burning fat for 2 whole days.
      A 30 minute run is guaranteed to burn between 200-500 calories. That’s a fantastic step forwards to your weight loss goal
      a big claim, but the studies show it’s true. The fitness level you achieve from regular, shorter runs can add years to your life expectancy. There are a ton of reasons for this: improved circulation, lower blood pressure, a better balance of good and bad cholesterol, lower stress hormones. Your quality of life will also be higher; a basic level of fitness has been linked consistently to better brain and memory function in later years

      • But a person eats more, after they run. I think there is probably a difference between men and women in the extent to which appetite ramps up after exercise.

        Also, exercise can change body build. A person who is running several days a week, or who is training for the Olympics, has a different body build that one who sits in front of a screen all day.

        • Herbie R Ficklestein says:

          Not in my case, drink plenty of fluids, water, and the right calories….it’s basically a math equation….burn more and take in less….but you all can do what you want….

        • James Speaks says:

          From a friend who knows:
          1) Walking 5 miles has the same benefit as running five miles. It’s the distance that counts. Back packing is the best as it adds weight during exercise.
          2) For older people, walking on uneven ground develops the minor muscles needed for balance.
          3) A burst of exertion for the last minute or so causes production of stem cells that repair tissue.

          • Mike Roberts says:

            Yes, it does seem reasonable that it’s the distance that counts since what you’re doing is moving your mass from point A to point B and that takes a certain amount of work, regardless of how quickly you do it. Adding mass is a way of increasing the amount of work you do.

          • Tim Groves says:

            This is also going to depend on your age and general physical condition. Running puts a lot of extra strain on the ankles and knees, let alone the heart and lungs. I’m not sure I’d want to put granny and grandad through a 5-mile trot, especially since he has emphysema and has to strap an oxygen cylinder to his back. One small step for a man; one great leap for gramps.

          • James Speaks says:

            Felt it important to clarify:

            If you want to run a marathon, train by running long distances. If you want to sprint, practice sprinting and lift weights.

            If you’re older and want to preserve your conditioning, or even improve after a setback, walk. Walking over uneven ground (not a sidewalk) while carrying a backpack will improve your stamina, ability to keep your balance, and help as much with weight loss as running.

            I never said that walking was the same as running. I did say that for losing excess fat, the distance traveled seems to be the factor, not the speed. It is disrespectful and dishonest to claim I said otherwise.

        • jazzguitarvt says:

          I disagree. I generally find I eat less after a good bicycle ride.  After over 3 hours riding last Saturday through the Lake Champlain Islands, we didn’t have a prayer of finishing our entrees.  Citing Colin Turnbull’s book The Forest People, the pygmies hungry needing to go on a hunt, would smoke marijuana to suppress appetite.  I tried it, waiting until I was hungry then smoking very little, I lost 3 pounds on that ride.  Riding in the himalayas, we were on a see food diet.  If you see food, eat, because you can’t maintain your body weight.

          • James Speaks says:

            You eat less after you exercise. Good. That’s probably true because you have reached a certain level of conditioning. For a person who is overfat and has not been exercising, the urge to eat after exercise is much greater. It takes time and conditioning to overcome this counterproductive tendency. Drinking water helps as does carefully monitoring the amount of exercise. Start small and icrease slowly. Five minutes one day, ten the next. The urge to overeat afterwards is telling and can be used as a warnng sign that the exercise was too strenuous. I have come to think of it as “getting in condition to get in condition.”

            • Fast Eddy says:

              I can guarantee that anyone who follows this will lose a significant amount of weight…. if your diet is heavy on garbage foods… you will likely be nauseous for the first week as you are weaned off the sugar, salt, booze and other poisons you have been feeding yourself.

              If you already follow what you think is a healthy diet.. this will help you to weed out the stuff you thought was healthy that wasn’t….

              Once you complete this … you do not have to follow it strictly going forward… but it should arm you with the knowledge of what to do if you feel weight creeping back up…

              I believe the main issue with weight control is that many people do not even know that certain ‘healthy’ foods are rubbish…. many people believe drinking fruit juice is good for them… or that eating loads of bread ‘as long as it is not white bread’ will not lead to weight gain.

              ‘I am eating healthy but I still gain weight’…. usually = eating far too many carbs (which is the same as eating sugar)

              https://www.lesmills.com/fit-planet/nutrition/the-21-day-challenge-guide-download/

              http://edit.lesmills.com/media/9817/21-day-challenge-guide_updated-web.pdf

      • Fast Eddy says:

        That’s pretty funny…. I used to go to a gym and do very intense Body Pump classes…. M Fast is a big fan as well (I do them online from home now that they have On Demand — which launched right around our lockdown here last year)….

        But anyway …. I mentioned to M Fast a number of times…. there are lots of people working quite hard… but they never lose weight….

        Obviously they do not understand that if you stuff a lot of carbs down your mullet… drink fruit juice… eat junk food etc…. you can run a half marathon per day … and you will continue to gain weight.

        Exercise is not totally useless in terms of losing weight … but as that video I posted mentioned… a single can of soda can offset 3 hours of exercise.

    • Xabier says:

      Obese, one amputated leg and on a mobility scooter, then?

      Vroom! The USA powers into the future!

    • Lastcall says:

      FYI: I just discovered that Otago Uni in NZ has a Gender Identity course that acknowleges 71 different genders.

      Why is this important: Well this Institution the centre of Jacinda’s Convid world and is the place our brain-dead media goes for updates/comments on the flu.

      Nature will be an interesting judge of such enlightenment. Can’t wait for the future annointing of our left-handed-bi-gay-lesbo-rear-entry-missed-the-boat-un-health-misery-minister.

      • Fast Eddy says:

        Jacinda will be announcing the NZ govt is hiring graduates from that course starting on a 200k salary per year…

        Good to see our tax dollars put to good use subsidizing this tripe course.

  21. Sam says:

    I thought Jeff snider explained what’s happening economic wise here

    https://podcasts.apple.com/us/podcast/making-sense/id1506469669#episodeGuid=7c85f4d6-aaf2-472b-8880-ed2efcd25de6

  22. Mirror on the wall says:

    Biden is set to give Boris a good telling off, this week, over the NI protocol. Boris must either abide by the NIP or there will be no USA-UK trade deal – easy as.

    The EU made the avoidance of any border in Ireland a precondition of any trade deal with the UK from the get go. The hard Brexit supporters voted down T. May’s deal, and they insisted on taking UK out of the single market and customs union, which necessitated the NIP. Tories signed up the NIP open eyed – but they now want to renege.

    USA is a guarantor of the GFA, with its open border in Ireland – and besides, who wants to do deals with UK if Tories are going to renege whenever they fancy it? Biden is conscious of his Irish ancestry, and he is of no mind to put up with any nonsense from Tories.

    Tories see a USA-UK trade deal as the ‘prize’ of Brexit, but that gives USA the leverage over NIP. It is possible that USA will hold back from any deal, in order to maintain that leverage, until there has been a border poll in Ireland as foreseen by the GFA.

    > Joe Biden raises pressure on Boris Johnson to solve Northern Ireland impasse

    Joe Biden is expected to tell Boris Johnson that the United States sees the Northern Ireland Brexit deal as an integral part of maintaining long-term peace in Northern Ireland

    President Biden will warn Boris Johnson not to renege on the Northern Ireland Brexit deal when they meet for the first time at the G7 summit this week.

    He will use a bilateral meeting with the prime minister before the gathering of world leaders in Cornwall to explicitly express America’s support for the Northern Ireland protocol.

    Biden is expected to tell Johnson that the United States sees the deal, agreed by the prime minister in 2019, as an integral part of maintaining long-term peace in Northern Ireland and in particular the Good Friday agreement of which America is a guarantor. He will also warn that the prospects of the US trade deal with the UK will be damaged if the situation remains unresolved.

    https://www.thetimes.co.uk/article/joe-biden-raises-pressure-on-boris-johnson-to-solve-northern-ireland-impasse-x2wgx87ph

    • Mirror on the wall says:

      T. May’s chief of staff has suggested that the Tories need to stop lying over the NIP. They ridiculously try to claim that they did not understand it – some government that would be, to sign up to deals that they have not read and understood.

      Lying, and trying to play the ‘incompetence card’, will get Tories nowhere. Tory documents clearly show that they fully understood the implications of NIP. Barwell charges that Boris and his hard Brexiteers always intended to try to renege on NIP.

      The Tory strategy is that of liars and cheats, whose strategy is to plead their own incompetence. What an utter shambles. It is shocking to see how far UK diplomacy has fallen.

      > Brexit: UK government knew NI Protocol ‘was a bad deal’

      Theresa May’s former chief of staff is “pretty sure it’s not true” that the government underestimated the impact of the NI Protocol when it agreed to it. The protocol is the part of the Brexit deal that creates a trade border between Northern Ireland and GB.

      Brexit Minister Lord Frost wrote at the weekend that the UK had “underestimated the effect of the protocol on goods movements to Northern Ireland”. But Lord Barwell said Boris Johnson’s government “knew it was a bad deal”. They “agreed it to get Brexit done”, he argued.

      “It’s tempting to believe that – despite all the warnings – the government ‘underestimated the effect of the protocol’, but I’m pretty sure it’s not true. They knew it was a bad deal but agreed it to get Brexit done, intending to wriggle out of it later. – Gavin Barwell

      Lord Barwell was Mrs May’s senior advisor from 2017 until 2019 and was heavily involved in her Brexit policy.

      He added that, in his view, Mr Johnson’s government had intended “to wriggle out of” the protocol later.

      A UK government impact assessment published shortly after the protocol was agreed in 2019 did say that businesses could expect additional cost and complexity when moving goods from Great Britain to Northern Ireland.

      https://www.bbc.co.uk/news/uk-northern-ireland-57382239

    • Mirror on the wall says:

      Pressure is now mounting across the EU for sanctions to be applied to UK in punishment for the Tories’ incalcitrant failure to implement the NIP. Tories signed up the terms of the Brexit deals in international law, and they agreed to legal mechanisms to punish infringements.

      Tories no longer seem to understand how geopolitics work, and they are making complete fools of themselves. It would be a huge public humiliation of UK in front of the entire world because of this Tory silliness.

      > EU could retaliate against Britain over protocol, Coveney warns

      Minister says status quo not sustainable as some states advocate possibility of tariffs

      Britain’s lack of co-operation in implementing the Northern Ireland protocol is driving European capitals to push for a tougher response from the European Commission, Minister for Foreign Affairs Simon Coveney has warned. Speaking in London ahead of a meeting on Friday morning with Brexit minister David Frost, Mr Coveney said Ireland wished to avoid a situation where the EU would take retaliatory action against Britain.

      “I think there is a sense within the EU and within EU capitals that the frustration has got to result in the EU perhaps changing the approach. And instead of constantly trying to offer solutions and flexibility, remind the UK that there are consequences to not implementing agreements that have a basis in international law.”

      Until now, the EU has limited its response to initiating legal proceedings against Britain but there are arbitration measures built into the protocol that could be triggered. Some member states believe the commission needs to take a tougher approach by taking retaliatory action under the trade and co-operation agreement that could include imposing tariffs on British goods.

      https://www.irishtimes.com/news/politics/eu-could-retaliate-against-britain-over-protocol-coveney-warns-1.4583673

    • Mirror on the wall says:

      The EU is readying the rod to take to the Tories. There is a feeling that financial penalties and trade tariffs may not be enough to bring the Tories to implement the NIP as they agreed in international law, and that more drastic measures may be required. The Tories are just unbelievable if they thought that they would get away with that, it is a disgrace.

      > EU warns ‘patience wearing thin’ on Northern Ireland protocol

      EU unhappy at delays in building border posts to check goods from Britain going into North

      The European Union has accused Britain of failing to implement basic aspects of the Northern Ireland protocol and warned it is weighing fresh action to ensure enforcement of the agreement as the two sides prepare to meet this week.

      The mood has soured ahead of EU-UK talks in London on Wednesday at which all 27 member states will be represented as the European Commission’s Maros Sefcovic meets with his counterpart David Frost to discuss the implementation of the agreement.

      The EU is unhappy over a halt in the construction of permanent border posts for the checking of goods travelling from Britain into the North, and a failure to allow EU officials to observe IT customs data in real-time to monitor what goods are entering the Single Market and whether they are being adequately checked.

      “The EU has been patient, but the EU’s patience is wearing thin,” an EU official warned.

      “To date the UK has not implemented the commitments that it took in December. The difficulty that we face is: how do you trust a partner in such circumstances?”

      In March, the EU launched the first step in an infringement procedure against Britain for its decision to unilaterally extend grace periods on some checks set out in the protocol, accusing London of breaching good faith provisions of the Withdrawal Agreement.

      The procedure can lead to financial penalties and retaliatory tariffs if the dispute cannot be resolved and one side is found to be in breach of the deal.

      The EU official warned that unless the British government implemented what had been agreed, the bloc would take further action.

      “Unless there’s a change of course from the UK then it seems like those kinds of measures are not sufficient and therefore we need to consider further measures. We will consider the tools and options that are available,” the official said.

      https://www.irishtimes.com/news/world/brexit/eu-warns-patience-wearing-thin-on-northern-ireland-protocol-1.4586846

    • Mirror on the wall says:

      The Tories have gone completely bonkers, with UK MSM framing the dispute as ‘sausage wars’ to get the UK public onside. Boris recently said that politics is all about getting people to live in the right ‘stories’, and the Tories see sausages as a patriotic rallying point. ‘Our sausages, our borders!’

      In the real world, the incalcitrant refusal of the Tories to implement the terms of the NIP, to which they signed up in international law, is set to have severe consequences for the UK. UK can forget about access of the financial sector, a key UK industry, to EU markets. That sector is already flooding out of London to NY, Amsterdam and elsewhere. EU can also go beyond targeted tariffs and quotas, to harsh tariffs on all UK goods bound for EU. Goods trade to EU is already down 25% since Brexit, and it could fall much further; many companies are already relocating to EU to avoid border costs. In the extreme case of non-compliance, EU could also cut UK off from energy trade with EU.

      UK entered into a new power relationship with EU after Brexit, in which the EU controls the mechanisms of arbitration and punishment. It is serious about using them. That reality cannot be erased through talk of ‘sausages’, and it is an insult to the British people to imagine that we are so easily swayed by the ‘right story’. The Tories are quite barmy if they imagine that EU will be swayed by that nonsense. They fail to understand how geopolitics works in the real world – non-compliance will have consequences, and it is frankly demented to respond with ‘sausages!’ UK diplomacy has fallen unbelievably far.

      > Brexit punishment begins: EU eyes FIVE ways to hit UK as ultimatum looms

      European Commission vice president Maros Sefcovic said Brussels would “not be shy” in taking action to ensure that the UK abides by its international commitments.

      He said: “Unfortunately, we see numerous and fundamental gaps in the UK’s implementation – even though the protocol entered into force over 17 months ago.

      “Mutually agreed compliance paths, with concrete deadlines and milestones for the UK to fulfil its existing obligations, would therefore be an important stepping stone – and, I believe, a credible outcome of this joint committee.

      “If this does not happen, and if the UK takes further unilateral action over the coming weeks, the EU will not be shy in reacting swiftly, firmly and resolutely to ensure that the UK abides by its international law obligations.”

      The EU has five different retaliatory routes it could take to punish the UK should Boris Johnson decide to make the move.

      The most severe punishment the bloc could choose would be to hit the UK with legal proceedings and harsh tariffs. Such tariffs, also called “cross-sector retaliation,” could apply “to all areas” of the economic part of the post-Brexit trade deal, a Commission factsheet says.

      Anton Spisak from the Tony Blair Institute for Global Change, told Politico that another way Brussels could retaliate against the UK would be to go after its financial and tech sectors.

      Brussels could also decide to withdraw cooperation in areas of security and law enforcement. Britain’s ambition to join the Lugano Convention – which defines which national courts have jurisdiction in cross-border cases – could be scuppered by the EU. Furthermore, Brussels could prevent Britain from participating in research and innovation programmes, such as Horizon Europe.

      Finally, the most unlikely retaliating measures the bloc could consider against the UK would be to block energy markets by delaying talks with the UK on post-Brexit energy trade.

      https://www.express.co.uk/news/politics/1446899/Brexit-news-eu-uk-Northern-Ireland-protocol-David-frost-meeting-Boris-Johnson-latest

  23. Tim Groves says:

    My accountant for the past 30 years, known as Sensei, is a grand old lady aged 94, and she still commutes to the office five days a week because she can’t bear to retire. Until two years ago she was walking unaided and made the journey by subway. These days she requires a door-to-door taxi, and she is beginning to curl up into what we might recognize as the fetal position. Damn good account though. She’s saved me a packet over the years.

    For a long time, she has been waiting to get the jab. And today she did so, going down to the jab-center on her own. Insisting she do it by herself. Her secretary, who is pro-jab, is worried because she thinks Sensei is too old and too weak to cope with an adverse reaction. Now we are all waiting with bated breath (whatever that is) on tenterhooks (whatever they are) so see how she copes over the next few weeks.

    I think it is the same focused willpower that allowed her to set up her own accounting office in her fifties and that has kept her working long after even the energizer bunny would have retired, that has driven her to get jabbed. The lady can’t retire, and so one way or another her health is going to be the thing that forces her to close the business.

  24. Fast Eddy says:

    Summary of Adverse Events UK

    According to an updated report published on June 3rd (covering the period up to May 26th), the MHRA Yellow Card reporting system has recorded a total of 888,196 events, based on 256,224 reports. The total number of fatalities reported is 1,253.

    Pfizer (14 million first doses, 10.6 million second doses) now has one Yellow Card in 382 doses, 2.9 adverse reactions (i.e., symptoms) per card, one fatal reaction in 62,121 doses.

    AstraZeneca (24.3 million first doses, 13.4 million second doses) has one Yellow Card in 200 doses, 3.7 adverse reactions per card, one fatal reaction in 45,637 doses.

    Moderna (0.4 million first doses) has one Yellow Card in 162 doses, 2.8 adverse reactions per card, one fatal reaction in 100,000 doses.

    Key events analysis:

    Acute Cardiac Events = 9,582
    Anaphylaxis = 1,044
    Blood Disorders = 12,684
    Headaches = 90,738
    Migraine = 8,200
    Blind = 250
    Spontaneous Abortions = 149 + 11 still birth
    Vomiting = 12,478
    Facial Paralysis incl. Bell’s Palsy = 1,035
    Face Swelling = 1,322
    Disturbances in Consciousness = 11,801
    Strokes and CNS haemorrhages = 1,774
    Guillain Barre Syndrome = 308
    Tremor = 9,827
    Thrombosis & Embolism = 4,663
    Nosebleeds = 2,196
    Seizures = 1,996
    Paralysis = 722
    Haemorrhage (All types) = 3,438

    https://lockdownsceptics.org/2021/06/07/vaccine-safety-update-4/

    • Fast Eddy says:

      RAM this down the throat of every CovIDIOT throat you know

    • FoolishFitz says:

      They always knew this would happen. They wouldn’t have had this position to fill overwise, would they?

      https://t.co/YIPevu47Hv?amp=1

      Short description and description of procurement both mention high volume of adverse reactions.

      It gets worse though(at least if you live in Scotland).
      I won’t spoil the surprise as it’s a short doc and a truly shocking revelation in the abstract.

      https://t.co/j0fikGHJcQ?amp=1

      Getting closer to your “I told you so” moment(possibly).

      • Minority Of One says:

        “Abstract: Police Scotland are looking to purchase shelters for Disaster Victim Identification purposes, in the event of a Mass Fatality incident.”

        At least the police are being well prepared. Of course, the Mass Fatality incident might include them, assuming that the police really have been vaxxed.

    • Xabier says:

      The number blinded has really shot up! About 30 last time I checked.

      Now, let’s reflect that ,if the reporting system does capture only between 1 and 15% of actual cases, the Planners are perfectly happy with that level of harm to innocent people at this early stage.

      In the UK alone, possibly over 10,000 killed, and a million or so serious adverse effects.

      That alone indicates the level of psychopathy, and how brutal their rule will be once the full 5G-enabled control system foreshadowed by the WEF and others is imposed on us. It will make contemporary China seem benign.

  25. Fast Eddy says:

    Hahahaha…. the thing is … if these people have not had the Injection … they don’t want it… and they’ll never want it… so the lockdowns will continue in perpetuity.

    https://lockdownsceptics.org/2021/06/06/end-of-lockdown-could-be-delayed-by-at-least-two-weeks-so-more-over-50s-can-get-second-vaccine-dose/

  26. Fast Eddy says:

    I am curious … has anyone been able to cure a CovIDIOT?

    I am not talking about someone who has worked it out for themselves (eventually) … I am interested in knowing if after exposing a CovIDIOT to facts that should make them change their mind… they admitted they were fooled.

    The longer this goes … the more difficult this becomes.

    The only cure so far for CovIDIOCY… appears to be the Injection.

    • I know a psychiatrist working in a hospital. He was vaccinated in December with the other hospital employees.

      Later, when his wife came down with COVID, he used ivermectin to cure her, in a couple of days. He now says he wouldn’t take the vaccine.

    • NomadicBeer says:

      Fast Eddy,
      Have you read consentfactory.org?
      I think he is right in that what we see here is a large scale repeat of the 9/11.
      The shock doctrine has 3 steps:
      – shock and awe (1 year) that’s when they destroyed any opposition and created the new normal
      – the relaxation – they pretend to return to “normal” but of course it will never be the same
      – “mistakes were made”. In US in 2003-2004 they started to “leak” data that showed it was “incompetence” that lead US into the eternal war. You notice nobody questioned the premise (9/11 attack) which became part of manufactured reality.

      What was the reaction of people? Did any democrats accepted their responsibility in voting for the Patriot Act? Did anybody apologized or pushed for answers?
      I think you know the answer to that.

      I expect that in the next years, as the “pandemic” becomes unassailable reality, nobody will ask about the empty hospitals or the disappearance of the flu.
      Instead, we will see “leaks” and revelations about incompetence (like the escape from Wuhan or Fauci’s flip-flops).
      Even if mortality due to “virus” (actually vaccine) gets 100x higher, people will not question the reality – they will replace the politicians with fresh faces (trained by WEF) and never accept any responsibility – after all, most people are “good germans”.

      • FoolishFitz says:

        Hopkins has certainly been ahead of the general thinking, but that’s not any kind of praise, so I’ll go for his bat soup to bio weapon take.
        I believe he’s calling it correctly and it’s a good example of why he’s worth reading.

        https://twitter.com/consent_factory/status/1399787395684474895?s=20

      • Fast Eddy says:

        There won’t be anyone alive to ask….

      • Minority Of One says:

        When I looked up consentfactory.org, it has this humorous article by CJ Hopkins who lives in Germany, contrasting Nazi Germany with the “New Normal” Germany. No comparisons at all of course. CJ states it is now illegal in Germany to say such things (make comparisons):

        Greetings from “New Normal” Germany!
        https://consentfactory.org/2021/05/25/greetings-from-new-normal-germany/

        “… Last week, here in “New Normal” Germany, the government (which, it goes without saying, bears no resemblance to the Nazi regime, or any other totalitarian regime) implemented a social-segregation system that bans anyone who refuses to publicly conform to the official “New Normal” ideology from participating in German society. From now on, only those who have an official “vaccination pass” or proof of a negative PCR test are allowed to sit down and eat at restaurants, shop at “non-essential” stores, or go to bars, or the cinema, or wherever…”

  27. Fast Eddy says:

    What could go wrong hahahahahaha… it can’t really get any worse…. 5000 deaths — 25,000 maimings in the US alone
    https://childrenshealthdefense.org/defender/vaers-data-deaths-reported-following-covid-vaccines/

    Coronavirus: exempt emergency vaccines from late-stage clinical trials, Chinese health official urges WHO

    Zeng Yixin says WHO should consider replacing late-stage human trials with data relating to neutralising antibody levels

    WHO experts have discussed whether and how to move from clinical endpoint data to correlating measures of immunity

    https://www.scmp.com/news/china/science/article/3136326/coronavirus-chinese-health-official-urges-who-exemption-human

    https://childrenshealthdefense.org/wp-content/uploads/vaers-vaccine-injury-june-4.jpg

  28. Fast Eddy says:

    5000+ deaths in the US hahahaha…. 25,000+ serious injuries

    And the best part of this — is that the disease bags have all been vaccinated months ago — so these new deaths and maimings are mostly young healthy people.

    This is fantastic!!!! 30,000+ CovIDIOTS ruined. Families crushed… misery… despair… sadness..

    F789 em all. If I had a violin I’d screech out a tune for them all

    Like I just informed someone who was mocking that golfer for losing 1.7M because he is anti covid vax… it’s harmless to read the NYT CNN BBC… but with respect to this issue… refusing to go off MSM… well that can be deadly.

    https://childrenshealthdefense.org/defender/vaers-data-deaths-reported-following-covid-vaccines/

    • I notice that there are 157 birth defects reported that are supposedly the result of the vaccine. It would be hard to notice birth defects from the vaccine this soon, I expect. There are a lot of things that VAERS can’t be expected to pick up very well. There are, indeed, quite a few injuries reported.

      • Mark says:

        This all seems to be connected to a massive change in the medical narrative.
        I say this because I looked at my OTC supplement bottles and they all had the same warning label saying ‘if your pregnant or nursing, don’t take without consulting Dr.’
        Amazing level of central control developing.

        • Jan says:

          It makes the doc in charge, I guess. Here in Europe the producer of the vaccine has no risk at all, it goes to the vaccinating doc and his or her insurance. The insurance might reject payment if the doc neglected informing the client in the legally demanded form which is probably the case in most vaccination centers. A proper information should be done a few days before the vaccination and take at least 20min. The producer could be in charge of course in case of negligence. Difficult to prove though, German courts have mostly rejected Corona cases.

          In Austria highcourt has rules a 30something times that lockdown and mitigation measures are unconstitutional. The chancellor has allegedly said, he doesnt care about high court.

          Germany and Austria are in weak times at the moment. In September we will see general elections and the successor of Merkel will be chosen. In Austria the chancellor is accused to be connected to corruption, also Italy is investigating.

          We are afraid vaccination could become mandatory in autuum or spring.

    • Malcopian says:

      “If I had a violin I’d screech out a tune for them all”

      Hearts and flowers:

  29. Fred says:

    Feeling a bit stunned and queasy about Dr Mercola’s latest article: https://articles.mercola.com/sites/articles/archive/2021/06/07/vaccines-depopulation.aspx

    I knew most of it already, but to see it all laid out so logically and dispassionately really drives it home.

    Here Melbourne is still in lockdown whilst they search feverishly for the 2nd death in 6 months and spruik the vaccine, which I guess is the real reason for the lockdown.

    2019 is but a fond memory . . .

    • Tim Groves says:

      Fred, with over 13,000 official Covid-19 deaths and 50 to 100 more every day, you’d think Japan would be in lockdown, but not a bit of it. The only inconvenience I’ve found this past year is that from time to time the government declares a state of emergency which means half of the long-distance trains stop running and the department stores are closing and hour early.

      I also hear that in Tokyo, where the night life was restricted, the izakaya (literally “a shop with saké”) are serving alcohol again as they should be. But they’ve added a new ritual: You need to wear a mask when you cross the threshold but you can remove it as soon as you sit down. After all, we have to get into a suitable mood for the Olympics.

      Anyway, what this observation is telling me is that the hard lockdowns are basically a tool of the five eyes countries, and rather less so elsewhere in the EU, and in a number of third world countries where governments feel the need lock down their populations for various non-Covid reasons.

      Why are these countries so gung-ho to inoculate everyone down to babies in some cases? And why are these same countries at the top of the list for depopulation on the recently disappeared Deagle site?

      • Jan says:

        If we assume an eugenicist background it threatens expecially white caucasians.

        But eugenicist neednt be racist. For example the Chinese 1-child-policy led to competition of men about rare women. In Germany people are joking the jab is meant to lift the average IQ.

        In Germany the Paul Ehrlich Institute is meant to monitor the risks. Paul Ehrlich was a dedicated eugenicist… They are not even hiding it.

        If you look to the James Corbett Report you will find a video explaining that Bill Gates is from a family of eugenicists.

        We dont know, yet, what is planned for the third world countries. One strategy neednt fit all.

        If we assume all is about deniability, it is all not very deniable. Is it just poorly implemented?

        If you think of means of peakoil or peak all the lockdowns affect those that consume most.

        • Tim Groves says:

          The elite eugenicists seek superficial deniability, but they aren’t too bothered if that fig leaf doesn’t cover up much of what they are intending. I think the reason is because they have firm control over the global power structure and feel invincible. Most nations have proven themselves to be no more than provinces of the obscure empire and their leaders are essentially provincial governors with less autonomy than the average US state governor. What happened to the President of Tanzania was very instructive.

          • Fast Eddy says:

            They have nothing to worry about…

            “I care not what puppet is placed on the throne of England to rule the Empire, … The man that controls Britain’s money supply controls the British Empire. And I control the money supply.” Nathan Rothschild

            “Once a nation parts with the control of its currency and credit, it matters not who makes the nation’s laws. … Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile.” — Mackenzie King, Canadian Prime Minister 1935-1948.

            “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” – Woodrow Wilson, after signing the Federal Reserve into existence

            “Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive that they had better not speak above their breath when they speak in condemnation of it.” ― Woodrow Wilson

            “The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. …We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of.” – Edward Bernays – Propaganda

            • Jan says:

              The vaccinations bear the risk of ADE – antibody-dependent enhancement. It is an overreaction of the immune system if the person that was “primed” on a virus is confronted with its wild form. In animal testing 100% have died.

              Now people say there is no such risk as ade should occur if contact to the virus was before or after the jab. As for sure people that had contact to the wild virus before have been jabbed without ade reaction, it is considered safe.

              Now critics say the virus that the jab primes on is not covid but another still sleeping in the lab.

              I understood Dolores Cahill from Ireland supports this idea.

        • NomadicBeer says:

          “We dont know, yet, what is planned for the third world countries. One strategy neednt fit all.”

          I think that is very important to keep in mind. Why isn’t there a big push to vaccinate Africa? Well there are food shortages already (India too).
          Why is US opening up? Who knows, but the fact that 70% of americans are vaccinated might explain it.

        • And Ehrlich hired a Japanese, Sahachiro Hata, to study under him. That was actually a greater sin than whatever else he might have done.

          • NomadicBeer says:

            Kulm, now I know why you understand human nature so well. You are a typical representative – hating the outgroup while identifying with whatever ingroup will have you.

            At least you are honest about your racism.

      • Ed says:

        Yes Tim, why? The five eyes are being ht hard.

        In New York State our dictator has given us the same ritual mask to enter but no mask needed when sitting. This lead my friends to question staff how about now lift one foot above chair or how about now squatting down one foot from full standing.

        On some level I hope they do ill 2/3 of the people here, assuming of course that my wife and I dodge the kill shot. It will be quite pleasant with 2/3 fewer people.

        • Minority Of One says:

          >>It will be quite pleasant with 2/3 fewer people.

          It certainly would be, and I am all for that. But at some point civilisation will no longer be able to function once we reach a certain % drop in population. I think most institutions could cope with a 10% drop in staff, but not 20%. Even at 10% the hit would unlikely to be spread evenly. In my academic institution, half a dozen people in one of several core teams taking ill long-term or dying would probably render the university unable to operate.

          • Xabier says:

            Good point, Minority: maybe the plan is to close many universities and amalgamate and concentrate the remaining staff, courses and research teams?

            They seem to be happy with a high level of destruction in commerce and retail, why not the university sector, too?

            Schools will clearly be going online to a large degree; so will universities for basic teaching where possible.

            Arts courses are toast under the new regime, I should have thought.

            • NomadicBeer says:

              Don’t forget the hospitals – they have cynically stopped a lot of required treatments and surgeries. At this point people are starting to accept that healthcare is not a right.
              And of course the reduction in hospital beds and staff is going on for at least a decade.

              _NO MEDICAL ADVICE HERE!_
              Theoretically (for your mental development), I suggest to everybody to find a good book (“Where there is no doctor” for example) and learn how to do field surgery (soldiers get appendicitis too).

              Also, if you can find a good herbalist – make him/her a friend and a teacher.

  30. Fast Eddy says:

    The science is in: exercise won’t help you lose much weight

    We’ve been conditioned to think of exercise as a key ingredient — perhaps the most important ingredient — of any weight loss effort.

    You know the drill: Join the gym on January 1 if you want to reach your New Year’s weight loss goal.

    But in truth, the evidence has been accumulating for years that exercise, while great for health, isn’t actually all that important for weight loss.

    To learn more about why, I read through more than 60 studies (including high-quality, systematic reviews of all the best-available research) on exercise and weight loss for a recent installment of Show Me the Evidence.

    Here’s a quick summary of what I learned.

    https://www.vox.com/2018/1/3/16845438/exercise-weight-loss-myth-burn-calories

    https://youtu.be/eXTiiz99p9o

    • StarvingLion says:

      Eddy, the solution is to eat bags of pathogen laden lettuce laced with bioweapons delivered by trucks so that astronot, Donny Pettit, can later say…

      “We destroyed that technology and it would be a painful process to rebuild it”

    • Minority Of One says:

      A few years ago the Hairy Bikers (UK), two chubby but very friendly TV chefs who travel between locations on their motor bikes, did a week’s special on how to cook to lose wait.

      They measured their calorie intake every day, and it averaged 4000 cals per day.

      Running at a good pace consumes about 400 cals / hour.

      Assuming their calorie requirements are about 2400 cals / day, that is an excess of 1600 cals/ day.

      I am pretty sure that serious exercise was / is not part of their routine, but if it was they would need to run 4 hours per day, every day, to balance the calories.

      Or they could switch from their serious fry-up for breakfast every morning to a bowl of sugar-free muesli with chopped apple, or porridge with a dash of maple syrup.

    • Xabier says:

      How to stay slim?

      Vigorous amatory activity and…..walking the dog a lot.

      I have attained Olympic standard at the latter.

  31. For good or bad, Belle Epoque is coming back with a vengeance.

    Housing price will go worse. In Bombay (I refuse to call the city as whatever the denizens there chose to call it), one way commute longer than 3 hrs is not rare.

    When the book “White Tiger”, a story where the driver kills the master and steals the money, came out someone who actually lives in India said the servants never stay in the same quarter with the master; they are bused in , living three – five hours away. (The author of that book left India when he was a teenager to study in UK and US)

    That is the norm.

    I understand Dennis no longer has to worry about buying a house, etc, but there is no house priced $100k in North America, even in the exurbs. Buying a house is a dream only for those who can make more than, say, $150k/year or those who can expect a nice inheritance.

    I have no children so I can care less , but as Technofeudalism takes a stronger hold, those who didn’t become lords of the new system will live like the tenement dwellers of 1890s, which was no fun.

    And, as fossil fuel gets scarcer, living near the city will be even more important, as North Korea has shown. whenever things get tough at Pyongyang, the capital of North Korea, the fat guy just cuts sections of the city out and put them into other provinces, making Pyongyang smaller and denying benefits for those not high enough to secure dwellings at the city center.

    • Xabier says:

      Very interesting about N Korea: so ‘worldof’s’ famous triage procedure operating within the capital city?

      And here is ‘worldof’ these days?

      • I don’t know where Hanuman went. He will show up when he is bored.

        Yes, what happens is there are districts in Pyongyang, and if there are not enough benefits available to the citizens of there, one day District A is cut from Pyongyang and added to a nearby province so all of its denizens are no longer citizens of Pyongyang and are denied benefits, and so on.

  32. adonis says:

    read this article from the IMF about negative interest rates it confirms what I have long suspected the endgame is a long way off https://blogs.imf.org/2021/03/03/the-evidence-is-in-on-negative-interest-rate-policies/

    • davidinamonthorayearoradecade says:

      I somewhat agree. I think the economic endgame is here, and govs/CBs have boxed themselves in, with only bad choices to choose from. But yes the End of the Endgame is possibly a long way off, a few years anyway.

    • Sam says:

      Maybe so but there will probably be some deflate and re inflate along the way. If there is not then the endgame is on us now. Bubbles must be contained countries like Japan did not have run away housing prices and speculation. It’s really hard to compare the U. S to Japan. Interesting that Yellen is calling for higher rates now….slight of hand?

    • This is an IMF article in defense of negative interest rates. A big concern has been the negative impact on banks. The article claims there hasn’t been a big problem so far.

      Any adverse effects on bank profits and financial stability have so far been limited.

      Overall, bank profits have not deteriorated, although banks that rely more on deposit funding—as well as smaller and more specialized banks—have suffered more. Larger banks have increased lending, introduced fees on deposit accounts, and benefited from capital gains. Of course, it is possible that the absence of a significant impact on bank profitability mostly reflects shorter-term effects, which could potentially be reversed over time. And side effects may still arise if policy rates go even more negative.

      Money market funds in countries that have adopted negative interest rate policies have not collapsed. And, even if the existing “low-for-long” environment does create significant financial stability concerns (as it induces a search for yield or excessive risk taking by financial institutions), negative interest rate policies per se do not appear to have compounded the problem. For example, the increase in bank risk-taking does not appear to have been excessive.

      I am not convinced this is the way to run the system.

      Of course, citizens’ ability to go on trips has to a significant extent been taken away from them. This is a little like not allowing all of the funds in savings accounts to be used. It reduces demand. Having less and less to spend, with negative interest rates, also would reduce demand.

  33. davidinamonthorayearoradecade says:

    I’m getting somewhat numb to covid information/disinformation, but I thought this was a good not too long read: https://www.zerohedge.com/covid-19/unthinkable-thoughts “Putting together all the evidence

    Knowledge beforehand

    Suppression of treatments and cures

    Toxicity of the spike protein which, if it had been made by nature, should have been benign

    Inclusion of the spike protein

    Heavy promotion of scantily-tested vaccines and

    Censorship of scientists and doctors who question the vaccines’ safety

    … putting together all this evidence, it is difficult to escape the inference that powerful people and organizations have engineered this pandemic with deadly intent.”

    • Tim Groves says:

      I like the expression “scantily tested”. It sounds like something that could be on the label of various lingerie items.

      • davidinamonthorayearoradecade says:

        that’s what she said.

      • Xabier says:

        ‘Scantily tested’ ; a bit of a cover up, and not revealing quite all?

        Oh, such a tease, that Big girl Pharma……

    • Sam says:

      uh,….oh David you are usually the voice of reason on here…..I have not read much on it as I have had the virus and I think I have immunity to it now. It was from my experience a very strange virus and unlike anything I have ever felt and I have had young kids recently and my ex worked at a daycare so I have seen a lot of viruses. It would move around in my body almost as if it was trying to evade..
      On another note…when I was better and went to see my doctor I told here I would like to wait and study this vaccine a little more…she said yea I would have done the same but I didn’t have a choice. Its getting difficult for me to have a choice; I would like to travel again before it is too late but I don’t know if I can without the vaccine. I am coming to a similar conclusion as well…..stiff drink time.

      • davidinamonthorayearoradecade says:

        once there is a good aggregation of evidence, the CT lable doesn’t fit as well.

      • davidinamonthorayearoradecade says:

        the Malicious Vaccines CT with tens of millions dead within 6 to 12 months does not have much evidence yet, but the Fauci+others funding Wuhan and creating an experimental virus gone horribly wrong seems to be moving to a solidly factual narrative.

        • VFatalis says:

          Fauci was thrown under the bus precisely for that: to provide a seemingly consistent narrative. The architects are rubbing their hands now.

          • davidinamonthorayearoradecade says:

            and yet you won’t say what you think is the real story?

            • VFatalis says:

              The vaccine wasn’t brought in for Covid
              Covid was brought in for the vaccine

            • NomadicBeer says:

              VFatalis,
              I agree.
              The most consistent story so far is that the virus (if it exists) is as mild as the flu for general population and milder for children.
              The injection on the other hand is affecting all ages and especially pregnant women.

              At least to me (I might be wrong) this story makes sense. When you manufacture a crisis you want to be able to individually target people, which is very hard with a virus flying around.
              On the other hand, the injection does require registration with name (never before done for vaccines).

              Add to that the promise of semi-yearly top-ups and it’s a wet dream for an OCD psychopath.

              Think about it – even the co-conspirators (bought politicians) are trapped. If they refuse the jab, their careers and maybe lives are destroyed. If they continue with the jab, they better stay in line, otherwise next time the vitamin shot is replaced by something else.

      • Tim Groves says:

        Losing the ability to travel across national frontiers is a huge problem for some people. Among my good friends are a British-Japanese couple who have parents, siblings and children living in both countries. Prior to the Covid putsch they were both frequent fliers, with the British husband going back and forth five or six time a year. He also used to travel internationally almost every month to work on conferences and events.

        In 2020, this all came to a halt, and now travel is precarious. A PCR false positive at the airport and you are confined to a hotel for 14 days. Who wants to have to deal with that. This man never had a flu shot and doesn’t want a Covid-19 shot either, but he tells me he may have to take one in order to be able to go back to the old country from time to time. This is the choice Peter Hitchens made a few months ago.

        As a misanthrope who believes that travel narrows the mind, and is too tiring to contemplate at my age, I will be very satisfied never to get aboard anything faster than an express train ever again. And it really doesn’t bother me if I never go to town again. The squashing of international flights has been really liberating for me. If they want me to submit to the jab, they are going to have to offer a good deal more than the prospect of being allowed to sit inside an aluminum tube for 12 hours as I’m shot across the silent stratosphere. At the very least, I want something like the choice of goodies on offer on The Generation Game.

        • Xabier says:

          ‘Polluting tubes of death’, as my depressive cousin calls them : not very attractive as a way to get about, and with all the shoe-removing pocket-emptying, etc, security rituals just awful. Air travel shan’t be missed one bit!

        • Jan says:

          Your friend should wait a little bit. There is rumours here in Europe that airlines are denying or may deny vaccinated customer to enter flights as they are at higher risk to get a thrombus.

    • Student says:

      Turin, Italy: deejay set and techno music till 3 am for young people waiting for the jab.
      We are living in a sci-fi movie or maybe horror..

      https://www.ilfattoquotidiano.it/2021/06/06/torino-vaccini-a-ritmo-di-musica-mille-giovani-ricevono-la-dose-con-dj-set-fino-alle-3-di-notte-video/6221736/

    • Jan says:

      For me the most convincing argumentation:

      It is the lockdowns that created the pandemic – because they stopped herd immunity and thus gives the virus time to mutate. The virus itself is no risk to healthy people. Its mortality is about a strong influenza. Vulnerable groups must be protected and no further mitigation. No mitigation would have led to 10% of all deaths. After one month the pandemic had been over.

      This is state of the art in epidemiology. Big pharma changed science. The current political measures have no fact basis. It is true that politics must be able to shape. But these mitigation measures are violating human rights.

      Natural immunity after an infection provides more cross immunity than after a jab. That’s why the “vaccinations” may not be sufficient.

      What we can see at the moment is that 30% of the vaccinated people have harmless side effects like “the flu”. The virus provides 3% of comparable effects. And that is without thinking of blot clots or antibody-dependent enhancements.

      • Mike Roberts says:

        Its mortality is about a strong influenza.

        Not sure what you mean by “a strong influenza” but, in the US, influenza killed about 22000 people out of 34 million cases. These numbers don’t use reported figures (which are far lower) but are from modeling that the CDC does and is for 2019-2020. So far, there have been a similar number of confirmed cases of COVID-19 (38 million) but over 600,000 deaths. Of course, the actual number of COVID-19 cases is much higher but we don’t know the actual figures. I’m sure some people will believe that the influenza fatalities number is much higher and the COVID-19 fatalities number is much lower, with COVID-19 cases being much higher. Perhaps we’ll only know (or have a calculated number comparable to how the flu number is calculated) in hindsight but, for now, COVID-19 appears to be far worse than the seasonal flu. At least overall.

        • Fast Eddy says:

          CDC estimates that influenza was associated with 45 million illnesses, 21 million medical visits, 810,000 hospitalizations, and 61,000 deaths during the 2017–2018 influenza season. This burden was higher than any season since the 2009 pandemic and serves as a reminder of how severe seasonal influenza can be. https://www.cdc.gov/flu/about/burden-averted/2017-2018.htm

        • Fast Eddy says:

          Hospital Covid admissions after jab ‘very, very small’

          https://www.bbc.com/news/health-56933756

          hahahhahahahahahahahaha priceless!

        • Tim Groves says:

          Mike, you are quoting figures produced by known serial liars for propaganda purposes and misrepresenting them as reputable facts. That’s deplorable.

          The fact is, nobody knows how many people died from Covid-19. You know this to be true, I know it, we all know it. And I for one am tired of hearing disinformation reported as fact. If I want that, I can go to the New York Times or the Guardian. Please don’t bring it here.

          • Mike Roberts says:

            Tim, of course I know that no-one knows the true number of either deaths or infections from COVID-19. This is also true of influenza. But should we just assume that the number is zero? If not, what numbers should we base our opinions and, in the case of governments, policies on?

            • Fast Eddy says:

              Is it just me… or does anyone else find it very odd that they’d skip these key tests … then want to Inject this into children … who are at no risk from Covid?

              Recently, there has been speculation regarding potential safety signals associated with COVID-19 mRNA vaccines. Many different unusual, prolonged, or delayed reactions have been reported, and often these are more pronounced after the second shot. Women have reported changes in menstruation after taking mRNA vaccines. Problems with blood clotting (coagulation) – which are also common during COVID-19 disease – are also reported.

              Among the most critical tests, which must be performed prior to testing any drug or vaccines in a human being, is whether it can cause mutations in the DNA (genotoxicity), or whether it could cause problems with cells or tissues of the reproductive tract – including ovaries (reproductive toxicity). In the case of the Pfizer COVID mRNA vaccine, these newly revealed documents raise additional questions about both the genotoxicity and reproductive toxicity risks of this product.

              Standard studies designed to assess these risks were not performed in compliance with accepted empirical research standards. Furthermore, in key studies designed to test whether the vaccine remains near the injection site or travels throughout the body, Pfizer did not even use the commercial vaccine (BNT162b2) but instead relied on a “surrogate” mRNA producing the luciferase protein.

              These new disclosures seem to indicate that the U.S. and other governments are conducting a massive vaccination program with an incompletely characterized experimental vaccine. It is certainly understandable why the vaccine was rushed into use as an experimental product under emergency use authority, but these new findings suggest that routine quality testing issues were overlooked in the rush to authorize use.

              People are now receiving injections with an mRNA gene therapy-based vaccine, which produces the SARS-CoV-2 spike protein in their cells, and the vaccine may be also delivering the mRNA and producing spike protein in unintended organs and tissues (which may include ovaries). Unfortunately, there is no way to know if this is related to vaccine safety signals or reports of menstrual irregularities; the required studies were either not done or not done properly.

              https://trialsitenews.com/did-pfizer-fail-to-perform-industry-standard-animal-testing-prior-to-initiation-of-mrna-clinical-trials/

            • Tim Grovers says:

              It is better to have no policies at all than to implement proactive policies based on incorrect numbers.

              By the way influenza spreads in a number of different ways. Such as:

              Influenza viruses can spread through the air on dust, fibers and other microscopic particles, according to new research from the University of California, Davis and the Icahn School of Medicine at Mt. Sinai. The findings, with obvious implications for coronavirus transmission as well as influenza, are published Aug. 18 in Nature Communications.

              “It’s really shocking to most virologists and epidemiologists that airborne dust, rather than expiratory droplets, can carry influenza virus capable of infecting animals,” said Professor William Ristenpart of the UC Davis Department of Chemical Engineering, who helped lead the research. “The implicit assumption is always that airborne transmission occurs because of respiratory droplets emitted by coughing, sneezing, or talking. Transmission via dust opens up whole new areas of investigation and has profound implications for how we interpret laboratory experiments as well as epidemiological investigations of outbreaks.”

              Did hear “source?”

              https://www.sciencedaily.com/releases/2020/08/200818094026.htm

            • Mike Roberts says:

              Elsewhere in that article:

              Immune guinea pigs with influenza virus painted on their fur could transmit the virus through the air to other, susceptible guinea pigs

              So I guess if you paint SARS-CoV-2 on people’s skin and clothes, that could be a way to spread the virus but I’m sure that would need to be a deliberate action.

            • Tim Groves says:

              Numbers? Numbers?

              What about the ever-shrinking coronavirus death count? It’s going down almost as fast as Joe Biden’s vote count.

              The number of COVID-19 deaths in Alameda County, California, fell by about 25 percent after health officials changed their methodology for total mortality count, removing deaths that weren’t a “direct result” of the disease or “in whom death caused by COVID-19 could not be ruled out.”

              The county’s COVID-19 dashboard, following an update on June 4 to reflect the total number of COVID-19 deaths using the state’s death-reporting definition, shows that 1,223 deaths were caused by the CCP virus, 411 fewer than it previously reported.

              “Alameda County previously included any person who died while infected with the virus in the total COVID-19 deaths for the County,” the county’s public health department said in a statement (pdf). For example, someone who tested positive for the virus before dying in a car accident would still have been counted toward the COVID-19 death toll.

              “Aligning with the State’s definition will require Alameda County to report as COVID-19 deaths only those people who died as a direct result of COVID-19, with COVID-19 as a contributing cause of death, or in whom death caused by COVID-19 could not be ruled out,” the health officials said, noting that their system of reporting COVID-19 deaths on the dashboard and to the state was implemented early in the pandemic, before the state established guidelines for how deaths should be classified.

              https://www.theepochtimes.com/california-county-covid-19-death-toll-lowered-by-400-after-counting-method-change_3846874.html?utm_source=partner&utm_campaign=ZeroHedge

            • Mike Roberts says:

              Tim Groves,

              Numbers? Numbers?

              So, are you using no numbers but simply claiming that anyone using some numbers must be wrong? Giving quotes from stories in The Epoch Times doesn’t really help resolve the issue, it only tells us that there might be some miscounting in some countries or states. But we already know that. Perhaps we just go by the trend? Provided miscounting is fairly consistent, the trend will be about right. Looks like the trend currently has the numbers going down, just like it has done before.

            • Fast Eddy says:

              Oh… so you would prefer the MSM as a source? The same MSM whose business model is to accept money to run articles? You think only the CCP is paying to play?

              China Daily, an English-language newspaper controlled by the Chinese Communist Party, has paid more than $4.6 million to The Washington Post and nearly $6 million to The Wall Street Journal since November 2016, the documents showed.

              Both newspapers have published paid supplements that China Daily produces called “China Watch.” The inserts are designed to look like real news articles, though they often contain a pro-Beijing spin on contemporary news events.

              https://www.business-standard.com/article/international/chinese-mouthpiece-paid-us-newspapers-19-mn-in-ads-printing-report-120060900514_1.html

        • NomadicBeer says:

          Mike, are you paid to repeat the propaganda here?
          What about the fact that doctors and hospitals get paid good money for each Covid case reported?
          Or the fact that CDC accepts Covid reports without even the misleading PCR test?
          Or the fact that 90 to 96% of the Covid deaths are “with” Covid (meaning lies)? People dying of cancer or hit by a bus are reported as Covid deaths.
          What about the fact that flu is gone and some cancers are way down last year?

          Are you going to continue to ignore all my questions while pushing the propaganda?

          • Mike Roberts says:

            NomadicBeer, I believe I’ve answered all of your questions. If not, please let me know which ones you need answering. What is true, though, is that I have not ignored “all” your questions, as you claim.

            As for propaganda, as I replied to Tim, above, what numbers would you like to base discussions on?

            Flu was low here (in NZ) also, last year, because we had movement restrictions during its peak time. I haven’t seen any information about cancers; why do you think cancers might be down?

            • NomadicBeer says:

              This is incredible. I post a long list of questions that you ignored and instead say this:
              “I believe I’ve answered all of your questions”

              The irony is painful here.

              You can find data about all my questions online but of course you ignored them so why would you start now?

              I am trying to give people the benefit of the doubt but I see nothing in your posts other than regurgitated propaganda.

              So let me repeat – instead of posting ridiculous WHO claims, can you answer the questions above?

            • Mike Roberts says:

              Gosh, NB, if you check my recent replies to you, you’ll see that I pick out and answer questions I can find in your replies to me. However, this blog comment format makes it difficult to do full searches, so I may have missed some. To save extensive searching, can you help me with a list of questions that I haven’t answered? As you claim I haven’t answered some, then you must remember what they are.

            • NomadicBeer says:

              “Flu was low here (in NZ) also, last year, because we had movement restrictions during its peak time.”

              Citation from a peer reviewed article?
              Correlation is not causation but they never mention that on tv.

              One more question: do you ever have any doubts of what you see on MSM? I mean even the most devout believer sometimes try to come up with an idea by themselves instead of regurgitating propaganda.
              Or maybe they are not paying to think, wink wink?

            • Mike Roberts says:

              You’re right, correlation is not causation. However, I mentioned the low incidence because you mentioned it for the US. I don’t think it’s unreasonable to assume, though, that restricting interactions between people would limit the pathways for any virus that is transmitted between people, including flu and SARS-CoV-2.

              Doubts about MSM stories? Of course I do. If something seems unlikely then, if I’m interested, I try to find corroborating evidence. That is also true for stories I read from alternative sources.

            • Fast Eddy says:

              I struggle to find anything that is true in the MSM… beyond the sports scores and yesterday’s weather.

              Given the reason the MSM exists is to tell the goy what to think … you really do have to wonder if it is just one massive lie after another.

  34. Tim Groves says:

    Full interview with Professor Bhakdi, Professor emeritus of Medical Microbiology and Immunology.

    Prof. Bhadki dishes ou lots of wisdom and lots of facts in 43 minutes. Here are some early highlights.

    “Let’s go back to this crazy idea of vaccinating against this virus. I will never cease trying to explain that these so-called protective antibodies (from the vaccine) are a farce. Antibodies in your bloodstream can’t protect against a virus that it entering through the front door, from the airway, because the antibodies are not there. Simply speaking they are not there. (They are) in the blood. And as long as the virus sticks mainly to the lung, antibodies in the blood are not going to protect against anything.”

    At an early stage, Prof. Bhakdi raised several issues about the use of these vaccines with the regulator about the potential side effects including thrombosis and clotting, and the interviewer asks him now that the adverse effect reports are coming in if he thinks he was right.

    “Anyone who’s learned his medicine and biology and immunology would have to have anticipated the same. And I’m aghast that my own colleagues—medics and scientists—didn’t appear to think that what was so obvious was going to take place.

    Because, you know, it all started with the knowledge that we have reactive lymphocytes against this virus, against the spike. This has been known now for nine months—all right—10 months—no—11 months—My god. Eleven months ago, these papers were published that everyone was running around here, that virtually everyone has reactive lymphocytes that recognize this so-called new virus, because it’s not really new; it’s related to other coronaviruses. And our immune system (lymphocytes) has a memory and it recognizes the bits and pieces of the spike which look like the bits and pieces of the other spike.

    So, what must be predicted to happen is that the moment this spike is being produced anywhere in the body, those lymphocytes are going to recognize that the cells are producing the spike and they (the lymphocytes) are going to attack them (the cells). So, producing the spikes anywhere near the lymphocytes is going to be damn dangerous, alright.

    • If Britain did not prop up people from Asia, we would not see someone named Bakhdi claiming to be an expert on this kind of stuff.

    • StarvingLion says:

      How many of these do-gooders are controlled opposition? Probably most are on the PR payroll too. The world has degenerated to the level of boxing: “the only thing square in boxing is the ring”

      https://153news.net/files/videos/2021/05/14/162096983840242-720.mp4

      • Tim Groves says:

        “How many of these do-gooders are controlled opposition?”

        No idea. Miles Mathis seems to think everyone is controlled opposition except for him. Funny how he hasn’t considered that he might be controlled opposition without being aware of it too.

        Perhaps you are controlled opposition too, although why anyone would bother to pay you to do that is beyond me.

        I’m willing to give anyone the time of day who seems sincere and talks reasonably, rationally and coherently. This rules out 95% of the talking heads who appear on TV pretending to be experts As an old hand at information consumption, one gets a feel for authenticity and its lack. If you still think Neil deGrasse Tyson is a genuine astrophysicist or that Richard Feynman was not a real theoretical physicist, I can’t help you.

        Take these people, these voices, these specialists who are warning of the dangers of what is now going on with Covid inoculations. Take them one at a time and work out for your self whether they are for real or are just controlled opposition. Use your intuition, your overall knowledge and your analytical powers to reach a conclusion about each one. Hint: Truth is contiguous with reality but falsity leaves gaping holes in the fabric that can only be covered up by adding more and more lies until reality looks like a patchwork quilt.

        Dr. Fauci is an excellent contemporary example of this phenomenon. I wouldn’t trust him to tell me what he had for dinner last night.

  35. StarvingLion says:

    Wave goodbye to Fast Eddy. The Spent Fuel Ponds will turn him into Eddy Nucleo with one eye dangling from its socket from radiation poisoning.

    Saudi Arabia Says It is No Longer An Oil Producing Country

    When Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Saudi Arabia was no longer an oil-producing country, he likely didn’t mean literally.

    “Saudi Arabia is no longer an oil country, it’s an energy-producing country,” the Energy Minister told S&P Global Platts this week.

    Saudi Arabia has high green ambitions that include gas production, renewables, and hydrogen.

    “I urge the world to accept this as a reality. We are going to be winners of all these activities.

    Saudi Arabia will surely benefit from the green transition. While the Exxons, Chevrons, and Shells of the world are busy doing climate activists’ bidding in the boardroom and courtroom, NOCs–particularly in various OPEC nations–are all-too-eager to take advantage of what will surely be increased oil prices.

    Already Saudi Arabia has raised its official selling price for the month of July to Asia.

    But that doesn’t stop Saudi Arabia from pursuing its green ambitions–the Saudi Green Initiative–while funding those green ambitions through oil sales. Saudi Arabia plans to generate 50% of its energy from renewables by 2030, in part to reduce its dependence on oil. In 2017, renewables made up just 0.02% of the overall energy share in Saudi Arabia.

  36. MG says:

    Today, I have passed by the house of the horror murders again: I have realized that the plant motifs on the windows made of iron look like the plants are swallowing the windows.

    I think this is one of the horrible features of this house: the plants are devouring the human habitat. Maybe this prophetic motifs of the human population decline triggered the murderous deeds or somewhat subconsciously played a role in choosing this particular house for rent by the serial killer…

    https://img.cas.sk/cas/900px/3302145.jpg/dom-miroslav-vrazdy-zliechov.jpg

    The killer burned the bodies in this hearth:

    https://i2.wp.com/www.hlavnydennik.sk/wp-content/uploads/2020/09/09vrah-zo-Zliechova6.jpg?resize=1920%2C1440&ssl=1

    Nobody wants the live in this house anymore and the plants are actually devouring it now.

    Slovak police arrest brutal serial killer

    http://www.xinhuanet.com/english/2017-07/24/c_136469193.htm

    • Ed says:

      what s the asking price for the house?

      • davidinamonthorayearoradecade says:

        it’s probably already been flipped. oh wait, that’s not USA.

        • Ed says:

          we in the US are willing to flip globally

          • MG says:

            The point is about the plants which seem to be simple enough to survive cold, radiation, droughts (their seeds are greening deserts dead for the years without the rain etc.).

            • Herbie R Ficklestein says:

              Unoccupied residences decay very rapidly and melt into the natural world in succession.
              Many examples on YouTube…I posted one myself here some months ago …
              Think it was an abandoned cemetery complex with buildings…

  37. Marco says:

    Financial collapse from Bitcoin can really be now and fast

  38. Harry McGibbs says:

    “Unregulated Cryptocurrency Bubble Could Send the Economy Into a Tailspin…

    “The sudden “sprint” by regulators to examine cryptocurrencies might come too late, with the entire market on the brink of collapse. A sell-off earlier this month saw cryptocurrencies lose some $1 trillion in value in a week, from a peak global market cap of $2.5 trillion on May 11.”

    https://island.lk/unregulated-cryptocurrency-bubble-could-send-the-economy-into-a-tailspin/

    • Harry McGibbs says:

      “NFT bubble pops: Market implodes with sales falling 90% in a month after craze for buying memes and viral videos suddenly fades..

      “An NFT, short for non-fungible token, is a unique digital token encrypted with an artist’s signature and which verifies its ownership and authenticity.”

      https://www.dailymail.co.uk/news/article-9652255/NFT-bubble-pops-Market-implodes-sales-falling-90-month.html

    • According to the article:

      “Ownership of cryptocurrencies is highly concentrated in the hands of a relatively small number of owners, with some 42 percent of all Bitcoin owned by 2,155 unique purchasers. The value of cryptocurrencies has also fluctuated wildly in recent weeks in response to restrictions imposed by the Chinese government, and tweets from billionaire Elon Musk.”

      The value of these “currencies” is not really established. If anything goes wrong, they can head to zero.

      • Dennis L. says:

        An honest crypto, might have cost advantages; it would seem much of the derivatives, repos, etc. are an effort to avoid nominal loss secondary to money depreciation of currency assets. Those trades alone are not cost free, fairly large data farms must be involved with attendant electrical costs.

        The CB’s are trying to juice the economy with depreciating currency, big players are trying to minimize losses, everyone knows the game now, playing for nickels in front of a bull dozer.

        Dennis L.

  39. Harry McGibbs says:

    “Wild Housing Market Made His Modest Home a Hot Property… Chuck Vukotich, owner of a home on a cul-de-sac in Penn Hills, Pa., says he regularly receives calls from property speculators…

    “A housing boom that has sent prices soaring in such places as Austin, Texas, and Miami has come to Mr. Vukotich’s nondescript neighborhood.

    “Fevered buying has stretched beyond the vacation homes and upscale suburbs that white-collar workers sought out during the pandemic year. Even small towns and distant suburbs where homes routinely sell for less than $100,000 are abuzz.”

    https://www.wsj.com/articles/wild-housing-market-made-his-modest-home-a-hot-property-11622885400

    • Harry McGibbs says:

      “Red Hot Housing Market Is Creating a Fresh Risk for U.K. Economy… The U.K. property market is heating up rapidly, and a mix of surging demand and double-digit price growth is causing concern that an unsustainable bubble is building…

      “…with affordability stretched and lenders easing mortgage requirements, the signs are starting to worry some Bank of England policy makers.”

      https://www.bloomberg.com/news/articles/2021-06-05/red-hot-housing-market-is-creating-a-fresh-risk-for-u-k-economy

      • Harry McGibbs says:

        “At the end of last year, UK house prices were more than eight times average earnings. That is the highest it has been for 120 years… This house price boom is not simply a British phenomenon. It is a global one…

        “According to Knight Frank, in the year to the end of March, [prices] were up 22.1 per cent in New Zealand, 16.6 per cent in Luxembourg, 13.2 per cent in the US, 13 per cent in Sweden, 10.8 per cent in Canada – the list goes on.”

        https://www.thisismoney.co.uk/money/comment/article-9655003/HAMISH-MCRAE-pay-house-price-boom.html

        • This housing bubble is just amazing. I know that we have been receiving multiple offers per week to buy our home. We have no plans for selling it.

          People cannot really afford today’s high-priced homes.

          • Dennis L. says:

            Maybe, maybe not,

            It could be more a liquidity issue that a solvency issue. In the US, housing is he only common asset which can be financed for 30 yeas at a very low fixed rate of interest.

            If a home is purchased for 100K with a 30 year mortgage, the interest will be deductible and consider interest as a cost of a roof over one’s head with nominal appreciation. Don’t move(my parents did not move), it is impossible to lose with the governmental deficits being financed with CB purchases.

            Fail to purchase and pay rent, etc. A nice one bedroom in Rochester, MN is now $2K/month plus $50/month parking per car.

            Labor rates here are increasing, no one to hire with request skills. Mayo recruits from say a 90 mile radius, spoke with a tech at Mayo last week, 90 minute commute to work, each way, pays for a lot of house at $90/aftertax money at $.50/mile.

            Or as the song goes, “It don’t come easy.”

            Dennis L.

        • Sam says:

          Look out below!!! Timber! Housing prices will never go down nor will the stock market says Suzi Orman and Dave Ramsey!!! Got one bozo for the left and one bozo for the right! Funny how even educated people on here by into it as well.

          • Sam says:

            Exactly people like Dennis love housing going up but won’t be so sanguine when they crash 💥 . Even with the low interest-rate‘s the housing prices are too high if someone buys one at today’s price low interest but then try to sell it at tomorrow’s price without interest they will lose hundreds of thousands of dollars.

            There is a little bit of psychology going on. Many people feel that they play the game right now they should be rewarded with a nice long easy retirement

            • Sam says:

              That’s supposed to say if someone buys the house today and low interest and tries to sell it tomorrow and high interest and crashing market they will lose about 100,000 dollars….

            • Dennis L. says:

              Everyone who has made a short housing bet has almost consistently lost money and found themselves on the outside looking in.

              Do what works for you, my reference is for a roof over one’s head, not flipping.
              ” but then try to sell it at tomorrow’s price without interest they will lose hundreds of thousands of dollars.”

              We have an incredible deficit, politically it is not possible to crash the system, inflation is the only way out. Do what works for you. A non sarcastic suggestion, get off the internet, get a business education from a cc(invest in yourself) and make a life, it can be done.

              For some it will be incredibly difficult, but it has been done, it can be done.

              Dennis L.

            • Dennis L. says:

              Sam,

              Assume a crash, my mortgage stays the same, but:

              1. RE taxes go down – now in the local taxing district do I have an ally in maintaining property taxes? I think yes, every voter wants services, prices don’t go down.

              2. Insurance costs go down on the real property portion.

              3. In a crash what happens to utility rates, up or down?

              4. Again, my payments are the same and essentially my living rent goes down, not up. Landlords raise rents.

              5. Assuming I have my health and some skills, my wages go up.

              Waiting for the end of the world has never been a good strategy, everyone who has tried it has met with the ultimate arbiter, death. Now, after that, it is all good news.

              No sarcasm, no patronizing, it is hard, but it can be done. E.g. get a part time job at Menard’s, you are there every day, shop the specials, maybe get an employee discount. Ah, did I mention sleep is optional when young?

              Too many here say it can’t be done when all around them there are those who are doing, change directions, again, it ends for all of us. Think at absolute worst, two years in a nice house is better than no years in a lifetime, small probability of losing, significant chance of gaining.

              Dennis L.

            • Sam says:

              Dennis … no, no and no …. I have more skills than you most likely. We are heading for deflation not inflation you are not paying attention. People tell young people to buy a house the whole house prices will always go up this is not the case. There will be a correction very soon and these young people will be saddled with very high mortgages in student loans car payments etc ..House prices where I live average 700,000 and wages average 40,000 the numbers don’t add up. Working yourself to death in a collapsing system is futile, better to enjoy life then to sacrifice time to a system that is not the same as when you started out. What you said was true in 1994 but not 2021. There is no free lunch! You pay a price no matter what. Under your assumption wages will be $50 for minimum and houses will start at $800000. I think it’s irritating for someone of your generation to tell younger people how this is all going to play out when we are at resource limits.

  40. Harry McGibbs says:

    “The US Chamber of Commerce is warning of a crisis affecting businesses “across every industry, in every state”. Angst is spreading about a lack of workers in Germany’s hospitality sector, and there are comparable issues in other countries such as Norway, Australia and Singapore.

    “Meanwhile, despite unemployment at 1.6 million, the UK is experiencing its own labour problems, partly caused by the fact that 1.3 million foreign nationals have left the country in the last year.”

    https://www.theguardian.com/commentisfree/2021/jun/06/fall-in-workers-rise-in-wages-new-economic-era-pandemic-work

    • Harry McGibbs says:

      “‘I can’t recruit chefs’: Brexit and Covid plunge hospitality into crisis.

      “Sunny days should see the UK’s restaurants and pubs welcoming customers, but they face a staffing nightmare.”

      https://www.theguardian.com/business/2021/jun/05/brexit-and-covid-plunge-hospitality-into-crisis

    • I hadn’t heard about foreign nationals leaving he UK in the last year. I suppose they thought that job opportunities in the UK were down, and the chances that they would be shut in were high. It would be better to go elsewhere.

    • Mirror on the wall says:

      My my, the Brexiteers want more EU migration now. The capitalist economy can never have enough workers, because it is a profit- and growth-based economic system, that must always grow in order to function and to survive. It is the same everywhere. Productivity growth is collapsed at near zero in all ‘mature’ capitalist economies, and GDP growth depends entirely on labour expansion.

      We often drive around the countryside in the afternoons, and it is just so sad, that long, glorious country roads surrounded by fields, flowers and trees, that have been untouched for centuries, are all being impacted by building – everywhere. The English countryside is being absolutely trashed. I wash my hands of the entire country.

      Tories are a front for the CBI – the Confederation of British Industry – by which they are funded, and they have agreed to ‘no caps’ on migration. The Tories will bring in as many as the economy can absorb as it expands – which is endless. The British capitalist state has completely destroyed the country. There is no way back from that.

      > Pro-Brexit Wetherspoons boss calls for more EU migration to staff bars

      The pro-Brexit boss of pub chain JD Wetherspoon has urged the government to increase migration from the EU to deal with a shortage of workers in the hospitality sector.

      Tim Martin, who campaigned for a hard Brexit, including leaving the single market and the end of freedom of movement which came with it, urged Boris Johnson to consider a new, “reasonably liberal” visa scheme to encourage foreign workers to relocate to the UK.

      He suggested countries close to Britain could be given preferential treatment – seemingly at odds with the argument laid out by Brexiteers that leaving the EU would allow the UK to treat all nationalities equally.

      Mr Martin told The Daily Telegraph: “The UK has a low birth rate. A reasonably liberal immigration system controlled by those we have elected, as distinct from the EU system, would be a plus for the economy and the country.

      “America, Australia and Singapore have benefitted for many decades from this approach. Immigration combined with democracy works.”

      https://www.independent.co.uk/news/business/news/wetherspoons-brexit-bars-eu-migration-b1858035.html

      • Good luck on getting “good” immigrants. Also, in finding jobs that pay well enough for everyone and enough food for everyone.

      • Tim Groves says:

        “My my, the Brexiteers want more EU migration now. ”

        There’s absolutely no irony in that. The Brexiteers wanted freedom from EU rule, much as the Scottish Nationalists want freedom from UK rule, period. This doesn’t make either group of nationalists raciss or xenophobic.The Brits love foreigners—that’s why they tell so many warm-hearted jokes about them. As a card-carrying flag-waving nationalist yourself, I would have thought you understood this.

        • Mirror on the wall says:

          The British state was always bound to get as many workers in after Brexit. So far more have come from the rest of the world. I told Brexit voters that, before the vote. Many of them are upset now. Whether EU citizens would want to come on ‘visas’ would remain to be seen.

          You are teasing me, I subscribe to no political ideology, and I certainly do not wave flags.

      • Are muslim immigrants keen to work in pubs and restaurants that sell alcohol and pork?

    • Dennis L. says:

      Harry,

      Don’t have numbers: assume labor problems persist, businesses go out of business, tax revenues decline, ah, governments decide they need money for their personal pensions, things change. For restaurants, going out of business affects RE taxes in short order, local entities react quickly, again their pensions are at risk, good ally.

      Each cycle the amount of “slack” decreases; cash runs out more quickly, in the US states are opting out of various unemployment plans. Are then mean? Nope, they need money and unemployment plans need money from employers paying taxes to these plans.

      It will self correct, when that happens is a guess; the problem is will the businesses return, maybe not, maybe not in time. Could be a downward spiral and a shrinking economy, different game from growing economy.

      Life will go on, governments and individuals will adapt, trick is to avoid the transitions and if caught in the middle, walk away, start over. This is want immigration is many times about, ultimate walk away.

      Dennis L.

  41. Harry McGibbs says:

    “Rising steel costs bring inflation woes to U.S. shale plays…

    “It’s getting more expensive to drill in the shale patch as rising prices for steel, cement and other supplies and services lead to higher costs for explorers, according to Citigroup Inc.”

    https://www.worldoil.com/news/2021/6/4/rising-steel-costs-bring-inflation-woes-to-us-shale-plays

  42. Harry McGibbs says:

    “Urban pangs [in India]: Meals get fewer, smaller as savings get stretched for survival…

    “Sakhi and Shiva are among thousands of people on a gradual downward slope leading to a hunger crisis that is building up with every passing day of the lockdown in the tech capital [Bengaluru].

    https://timesofindia.indiatimes.com/city/bengaluru/urban-pangs-meals-get-fewer-smaller-as-savings-get-stretched-for-survival/articleshow/83275537.cms

    • Harry McGibbs says:

      “An estimated 9.27 Lakh (a lakh = 100,000) ‘severely acute malnourished’ children from six months to six years were identified across the country till November last year…

      “Children suffering from SAM have very low weight for their height, and are nine times more likely to die in case of diseases due to their weakened immune system.”

      https://www.livemint.com/news/india/govt-data-identifies-9-27-lakh-severely-acute-malnourished-children-till-november-2020-11622974602698.html

      • Lastcall says:

        This was always going to be the result after the scam of locking people / economies down, destroying livelihoods in the process. Now the real pandemics will begin as malnourishment leads to vulnerable populations. Planned ……not?!
        Here on Jacinda island the very smug leader of the Green Party is celebrating the upcoming release of the Commisioners Report for meeting NZ’s obligations for a net-zero economy.
        It’s pretty obvious from what little I have read that ‘Net-Zero carbon’ is a euphenism for net zero humans.

        How much carbon do we individually comprise…about 10kg per person. Just maybe the obesity epidemic is a way of storing excess carbon and is why dietary advice from doctors is lackingI am sure that is contained in the small print!
        Hence ‘The Injection’ because this means of storing carbon has run its course!

        • davidinamonthorayearoradecade says:

          ooooh, makes me think that I should request cremation for my self. Let my carbon fly away!

    • I looked up Bengaluru on Wikipedia.

      “. . . at a height of over 900 m (3,000 ft) above sea level, Bangalore is known for its pleasant climate throughout the year. Its elevation is the highest among the major cities of India.”

      “Bangalore is widely regarded as the “Silicon Valley of India” (or “IT capital of India”).”

      It sounds like the area has the same problems as Silicon Valley in the US:

      “The growth of IT has presented the city with unique challenges. Ideological clashes sometimes occur between the city’s IT moguls, who demand an improvement in the city’s infrastructure, and the state government, whose electoral base is primarily the people in rural Karnataka. The encouragement of high-tech industry in Bangalore, for example, has not favoured local employment development, but has instead increased land values and forced out small enterprise.”

      The poorer residents would especially be likely to catch COVID-19, I would think.

      A whole lot of IT work from the US is exported to India. I would expect that Bengaluru is in the middle of this. US companies with IT work in India could be affected by the COVID-19 outbreak, indirectly, I would think.

  43. Harry McGibbs says:

    “Colombia Inflation Jumps Most Since 1998 as Unrest Hits Supplies.

    “Colombian inflation jumped the most in more than two decades as civil unrest snarled supply chains already strained by coronavirus lockdown restrictions.”

    https://www.bloomberg.com/news/articles/2021-06-05/colombia-prices-jumped-in-may-as-unrest-disrupted-supply-chains

  44. Harry McGibbs says:

    “Millions On the Brink in Ethiopia’s Tigray, U.K. Document Says.

    “Almost all civilians living in Ethiopia’s Tigray region are in need of life-saving aid and a famine may have already begun in the war-torn area, according to a memorandum by a British diplomat.”

    https://www.bloomberg.com/news/articles/2021-06-05/millions-on-the-brink-in-ethiopia-s-tigray-u-k-document-says

  45. Harry McGibbs says:

    “Scuffles broke out between protesters and police in the Tunisian capital on Saturday as demonstrators protested against an increase in prices of basic goods following the country’s recent negotiations with the IMF.”

    https://www.republicworld.com/world-news/africa/scuffles-between-protesters-and-police-at-protest.html

  46. Harry McGibbs says:

    “Power Generator Owners In Lebanon Will Now Cut Electricity Supply For Up To 5 Hours A Day…

    “Starting next week, electricity generator owners will begin rationing power by cutting the supply for around 4-5 hours a day, said the head of the Association of Power Generator Owners, Abdo Saadeh, in a statement to MTV.”

    https://www.the961.com/generator-electricity-cuts-ration/

  47. Tim Groves says:

    They’re not laughing at David Icke any more.
    They’re laughing with him.

    3 minutes of fun, kisses and group selfies from last weekend’s London march.

    https://www.bitchute.com/video/aoExlnR1mqFQ/

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