The Unz Review: An Alternative Media Selection
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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outlook-vvlhxzp5
The imposition of the nationwide lockdowns required elite consensus. There's no way that a project of that magnitude could have been carried out absent the nearly universal support of establishment elites and their lackeys in the political class. There must have also been a fairly-detailed media strategy that excluded the voices of lockdown opponents while--... Read More
Economic activity across the country has collapsed, GDP is shrinking at the fastest pace on record, and the economic data is worse than anytime in history. Every sector of the economy is contracting and every economic indicator is pointing down. According to economist Nouriel Roubini, the country is headed towards a decade of "depression and... Read More
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Donald Trump calls the media "the enemy of the people", but it's much worse than that. The media is a national security threat. Just look at the way they've handled the coronavirus. The hysterical 24-7 coverage has people so terrified they've locked themselves in their homes inflicting catastrophic damage on the economy. That disaster never... Read More
At present, there is no vaccine for the coronavirus. That means that one of the two paths to immunity is blocked. The other path is “herd immunity,” in which a critical mass of infection occurs in lower-risk populations that ultimately thwarts transmission. Herd immunity is the only path that is currently available. Let that sink... Read More
mikewhitneylockdown
Can we admit that we were wrong? Can we admit that the coronavirus is not going to kill "hundreds of thousands or even millions" of Americans? Can we admit that the public health system is not going to buckle and collapse? Can we admit that we fashioned our public policy on flawed computer models that... Read More
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Sometimes, the best thing to do, is to do nothing at all. Take Sweden, for example, where the government decided not to shut down the economy, but to take a more thoughtful and balanced approach. Sweden has kept its primary schools, restaurants, shops and gyms open for business even though fewer people are out in... Read More
The Russia-Saudi oil-price war is a fabrication concocted by the media. There's not a word of truth to any of it. Yes, there was a dust up at an OPEC meeting in early March that led to production increases and plunging prices. That part is true. But Saudi Arabia's oil-dumping strategy wasn't aimed at Russia,... Read More
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There's no doubt that the Coronavirus is a serious infection that can lead to severe illness or death. There's also no doubt that 'virus hysteria' has been used for other purposes. Wall Street, for example, has used virus-panic to advance its own agenda and get another round of trillion dollar bailouts. In fact, it took... Read More
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1-- Unemployment is off-the-charts Thursday's jobless claims leave no doubt that the country is in the grips of another severe recession. More than 6.6 million Americans filed for unemployment insurance in the last week. That number exceeds the gloomiest prediction of more than 40 economists and pushes the two-week total to an eye-watering 10 million... Read More
Vladimir Putin has decided how Russia is going to pay for the corona-virus. He's going to tax the rich. It's a remedy that most Americans would support if they were given the choice, but they weren't asked. Instead, Congress passed a $2 trillion stimulus package for which the American taxpayer will be held entirely responsible.... Read More
The Senate's $2 Trillion Coronavirus Relief Package is not fiscal stimulus and it's not a lifeline for the tens of millions of working people who have suddenly lost their jobs. It's a fundamental restructuring of the US economy designed to strengthen the grip of the corrupt corporate-banking oligarchy while creating a permanent underclass that will... Read More
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The next bailout will be our last
Imagine if the congress approved a measure to form a public-private partnership between the US Treasury and the Federal Reserve. Can you imagine that? Now imagine if a panicky and ill-informed Congress gave the Fed a blank check to bail out all of its crooked crony corporate and Wall Street friends, allowing the Fed to... Read More
The Fed is reopening its most controversial and despised crisis-era bailout facility, the Primary Dealer Credit Facility. The Wall Street Journal describes the PDCF as "an overnight loan facility for primary dealers (that) provides round-the-clock backup source of funding to banks." The WSJ's description grossly understates the facility's real purpose which is to transfer the... Read More
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1-- Investors are cashing in and heading for the exits According to Bloomberg News: "Investors made their biggest dash for cash in history" in the last week. "They channeled $137 billion into cash-like assets and a record $14 billion into government bonds in the five days through March 11.....(while) money managers are liquidating en masse."... Read More
On Thursday, the Federal Reserve announced its biggest market intervention to date, a massive $1.5 trillion injection into the short-term funding markets ("repo") aimed at preventing grossly-inflated stock valuations from resetting at lower prices. There should be no misunderstanding about the Fed's real intention or whether its meddling will work. When financial assets are purchased... Read More
The media has decided that the reason oil prices are plunging, is not because the impulsive Saudis want to bully Russia into output cuts that aren't in Russia's best interests, but because sinister Mastermind, Vladimir Putin, wants to obliterate America's domestic oil industry so he can rule the world. For brainwashed Americans, who believe that... Read More
Last week's violent gyrations in the stock market are the result of a tug-of-war between two well-represented groups of investors. One group thinks the Coronavirus will severely impact the global economy pushing stocks further into the red, while the other group believes the Fed will intervene in the market once more and save the day.... Read More
Imagine if stock prices decoupled from the real economy and steadily rose on the back of central bank policy. Imagine if a decade of historic low rates, perennially-optimistic forward guidance and trillions of dollars in bond purchases triggered the longest rally in Wall Street history. Imagine if investors shrugged off bad news, (flagging GDP, poor... Read More
There's a chance that the coronavirus will be contained in the United States and that fewer people will be infected than in China or Iran. But there's also a possibility that the highly-contagious virus will spread and that there will be sporadic outbreaks across the country. If this latter scenario takes place, then the ructions... Read More
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There are three main reasons why stocks are falling hard. 1-- Uncertainty. It's impossible for investors to gauge the economic impact of the rapidly-spreading coronavirus or its effect on stock prices. Investors buy stocks with the expectation that their investment will grow over time. In periods of crisis, when the environment becomes unfamiliar and opaque,... Read More
Monday's 1,000 point bloodbath was followed by Tuesday's 879 point rout, lobbing 8% off total market value in less than 48 hours. The two-day drubbing has left traders and fund managers in a state of shock. Growing pessimism and uncertainty are pushing markets to the brink of a vicious downward spiral which will lead to... Read More
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The Trump administration's appalling treatment of Huawei shows that the United States will risk anything, even a nuclear conflagration with China, to maintain its tenuous grip on global power. Huawei is China's behemoth technology company that has recently come under fire by the Trump administration for violating sanctions against Iran and for providing network equipment... Read More
Globalization is one of the great issues of our time. The erasure of national borders, the weakening of sovereign governments and the impoverishment of workers across the developed world has triggered a massive populist backlash that threatens to roll back the economic-integration scheme that places Capital at the head of a new global order. Widespread... Read More
When investors buy stocks, stock prices rise. That is the immutable law of the market. It doesn't matter if the money comes from big financial institutions, Mom and Pop day-traders or Central Banks. The same rule applies: Buy more stocks and prices go higher. So when the Federal Reserve launched its recent "repo rescue" operation,... Read More
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A five-alarm fire has broken out in a little known, but critically important area of the financial system where high-quality bonds are swapped for cash. The "repo" market, which is short for repurchase agreements, is part of the nondeposit, shadow banking system that remains largely unregulated despite the fact that it was ground zero in... Read More
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Western elites and their lackeys in the media despise Russian president Vladimir Putin and they make no bones about it. The reasons for this should be fairly obvious. Putin has rolled back US ambitions in Syria and Ukraine, aligned himself with Washington's biggest strategic rival in Asia, China, and is currently strengthening his economic ties... Read More
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Your Geopolitical Quiz for the Day: Two countries are embroiled in a ferocious rivalry. One country's meteoric growth has put it on a path to become the world's biggest economic superpower while the other country appears to be slipping into irreversible decline. Which country will lead the world into the future? Country A builds factories... Read More
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After the second Boeing commercial airliner crashed in Ethiopia killing everyone on board, the FAA should have grounded the rest of the Boeing 737 Max 8 fleet in the interest of passenger safety. That would have helped to shore up public confidence in the FAA while giving Boeing the time it needed to locate and... Read More
Why did the Fed raise its benchmark interest rate when inflation is still running below the Fed’s target, workers wages have hardly budged and the economy is not even growing at 1 percent? Yellen was asked that question at a press conference on Wednesday following the release of the FOMC’s statement. Her answer helps to... Read More
Donald Trump’s $1 trillion infrastructure plan is not an infrastructure plan and it won’t put $1 trillion of fiscal stimulus into the economy. It’s basically a scheme for handing over public assets to private corporations that will extract maximum profits via user fees and tolls. Because the plan is essentially a boondoggle, it will not... Read More
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The U.S. economy is weak. Very weak. But the Federal Reserve is planning to raise interest rates anyway. Why? Here’s what’s going on: According to the Atlanta Fed the US economy is expected to grow at a respectable 2.8 percent for the first quarter of 2017 That’s not bad considering that, for the entire year... Read More
It’s funny how an election can change the way a man sees the world. Before the election, Donald Trump thought that stocks were dangerously inflated. In an interview on CNBC, he said “I hope I’m wrong, but I think we’re in a big, fat, juicy bubble.” That was Candidate Trump. President Trump sees things differently.... Read More
Donald Trump wants to rip up the financial rule book and let the bankers go hog-wild. But haven’t we tried that before? Last Friday, the president announced a plan to scrap the rules that were put in place in 2010 to prevent another financial meltdown. Trump wants to return to the ‘good old days’ when... Read More
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It's amazing how Obama was able to dupe the American people into believing that the weakest expansion in the postwar era, was an "economic recovery." Frankly, it boggles the mind. Think about it for a minute: Productivity, business investment, personal consumption, inflation and growth have all been either sputtering-along at half speed or at historic... Read More
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Donald Trump has a plan for dealing with the stock market bubble. Make it bigger. Before the election candidate Trump blasted Federal Reserve chairman Janet Yellen for keeping interest rates too low for too long to keep the economy humming along while Obama was still in office. The president elect accused Yellen of being politically... Read More
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Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance companies and retirement funds into bankruptcy? Why is the Fed raising interest rates when inflation is still well below its 2 percent target? Things are not always what they seem. In theory, the Fed’s low interest rates... Read More
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Trump’s economic plan has sent stocks ripping higher for six weeks straight. But what’s going to happen to stock prices when Congress gives Trump’s plan a big thumbs down? Has anyone thought about that yet? And what about the Fed? Does anyone seriously think that Fed chairman Janet Yellen is going to sit on her... Read More
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Will Donald Trump be good for the US economy? The American people seem to think so. According to a recent survey taken by Gallup “Americans have relatively high expectations (of) the president-elect… Substantial majorities (upward of 60%) believe the Trump administration will improve the economy and create jobs. A slim majority (52%) say he’ll improve... Read More
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In Donald Trump’s first four years as president, he will not only choose three judges for the Supreme Court, he’ll also pick five of the seven members on the Fed Board of Governors. It would be impossible to overstate the effect this is going to have on the nation’s economic future. With both houses of... Read More
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Here’s your economics quiz for the day: Question 1– What do you think would happen if you put $3 trillion into the financial system? Question 2– What do you think would happen if you put $3 trillion into the economy? (Via fiscal stimulus for infrastructure projects, extended unemployment benefits, food stamps, etc) If you picked... Read More
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Why has the Fed created incentives for US corporations to loot their companies and drive them deeper into debt? Despite four consecutive quarters of negative earnings, weak demand and anemic sales, US corporations continue to load up on debt, buy back their own shares and hand out cash to their shareholders that greatly exceeds the... Read More
Liberals and progressives love to point across the aisle and accuse their oppone
The US economy has never been as mismanaged as it is today. Don’t take my word for it, just look at the bond market. On Thursday, the yield on 30-year US Treasuries dropped to a record-low 2.18 percent while the benchmark 10-year Treasury slid to 1.37 percent. (less than 1 basis point above its all-time... Read More
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British voters delivered a savage deathblow to the EU corporate superstate on Thursday sending global markets tumbling and forcing Prime Minister David Cameron to announce his resignation. The narrow victory, which caught the prognosticators by surprise, is the strongest sign yet that working people across the continent are awakening to economic and political disaster that... Read More
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On Tuesday, the 10-year German bund slipped into the bizarro-world of negative rates where lenders actually pay the government to borrow their money. Aside from turning capitalism on its head, negative rates illustrate the muddled thinking of central bankers who continue to believe they can spur growth by reducing the cost of cash. Regrettably, the... Read More
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A couple weeks ago the Wall Street Journal confirmed our worst fears about the student loan program, that is, that it was going to blow up in the government’s face just like all the other gigantic debt-bubbles that preceded it. For the sake of background, here’s a brief excerpt from the article that will bring... Read More
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30 years of wage stagnation followed by one wealth-eviscerating asset bubble after another has drained the optimism from the collective American psyche. Most people now think things are going to get worse for themselves and their children. This pervasive pessimism shows up in other surveys as well, like this recent Gallup poll in which the... Read More
Is there a conspiracy to keep wages from rising or is it just plain-old class warfare? Check out these charts from a recent report by Deutsche Bank and see what you think: (Feeling Underpaid, Zero Hedge) Well, what do you know? Everywhere the global bank cartel has its tentacles, wages are either flatlining or drifting... Read More
What do you think this chart means? (The post-recession economy is worse than we thought, Fortune) It means the U.S. economy is in the throes of the lousiest recovery since World War 2. “But how can that be”, you ask? “After all, hasn’t the Fed kept interest rates at zero for seven years while hosing... Read More
Booming auto sales have more to do with low rates and easy financing than they do with the urge to buy a new vehicle. In the last few years, car buyers have borrowed nearly $1 trillion to finance new and used autos. Unfortunately, much of that money was lent to borrowers who have less-than-perfect credit... Read More