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It is now clear that today’s escalation of the New Cold War was planned over a year ago, with serious strategy associated with America’s plan to block Nord Stream 2 as part of its aim of blocking Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia.

As President Biden and U.S. national-security reports announced, China was seen as the major enemy. Despite China’s helpful role in enabling corporate America to drive down labor’s wage rates by de-industrializing the U.S. economy in favor of Chinese industrialization, China’s growth was recognized as posing the Ultimate Terror: prosperity through socialism. Socialist industrialization always has been perceived to be the great enemy of the rentier economy that has taken over most nations in the century since World War I ended, and especially since the 1980s. The result today is a clash of economic systems – socialist industrialization vs. neoliberal finance capitalism.

That makes the New Cold War against China an implicit opening act of what threatens to be a long-drawn-out World War III. The U.S. strategy is to pry away China’s most likely economic allies, especially Russia, Central Asia, South Asia and East Asia. The question was, where to start the carve-up and isolation.

Russia was seen as presenting the greatest opportunity to begin isolating, both from China and from the NATO Eurozone. A sequence of increasingly severe – and hopefully fatal – sanctions against Russia was drawn up to block NATO from trading with it. All that was needed to ignite the geopolitical earthquake was a casus belli.

That was arranged easily enough. The escalating New Cold War could have been launched in the Near East – over resistance to America’s grabbing of Iraqi oil fields, or against Iran and countries helping it survive economically, or in East Africa. Plans for coups, color revolutions and regime change have been drawn up for all these areas, and America’s African army has been built up especially fast over the past year or two. But Ukraine has been subjected to a U.S.-backed civil war for eight years, since the 2014 Maidan coup, and offered the chance for the greatest first victory in this confrontation against China, Russia and their allies.

So the Russian-speaking Donetsk and Luhansk regions were shelled with increasing intensity, and when Russia still refrained from responding, plans reportedly were drawn up for a great showdown to commence in late February – beginning with a blitzkrieg Western Ukrainian attack organized by U.S. advisors and armed by NATO.

Russia’s preemptive defense of the two Eastern Ukrainian provinces and its subsequent military destruction of the Ukrainian army, navy and air force over the past two months has been used as the excuse to start imposing the U.S.-designed sanctions program that we are seeing unfolding today. Western Europe has dutifully gone along whole-hog with what has become a “war of sanctions.” Instead of buying Russian gas, oil and food grains, it will buy these from the United States, along with sharply increased arms imports.

The prospective fall in the Euro/Dollar exchange rate

It therefore is appropriate to look at how this is likely to affect Western Europe’s balance of payments and hence the euro’s exchange rate against the dollar.

European trade and investment prior to the War to Impose Sanctions had promised a rising mutual prosperity between Germany, France and other NATO countries vis-à-vis Russia and China. Russia was providing abundant energy at a competitive price, and this energy was to make a quantum leap with Nord Stream 2. Europe was to earn the foreign exchange to pay for this rising import trade by a combination of exporting more industrial manufactures to Russia and capital investment in developing the Russian economy, e.g. by German auto companies and financial investment. This bilateral trade and investment is now stopped – and will remain stopped for many, many years, given NATO’s confiscation of Russia’s foreign reserves kept in euros and British sterling, and the European Russophobia being fanned by U.S. propaganda media.

In its place, NATO countries will purchase U.S. LNG – but they will need to spend billions of dollars building sufficient port capacity, which may take until perhaps 2024. (Good luck until then.) The energy shortage will sharply raise the world price of gas and oil. NATO countries also will step up their purchases of arms from the U.S. military-industrial complex. The near-panic buying will also raise the price for arms. And food prices also will rise as a result of the desperate grain shortfalls resulting from a cessation of imports from Russia and Ukraine on the one hand, and the shortage of ammonia fertilizer made from gas.

All three of these trade dynamics will strengthen the dollar vis-à-vis the euro. The question is, how will Europe balance its international payments with the United States? What does it have to export that the U.S. economy will accept as its own protectionist interests gain influence, now that global free trade is dying quickly?

The answer is, not much. So what will Europe do?

I could make a modest proposal. Now that Europe has pretty much ceased to be a politically independent state, it is beginning to look more like Panama and Liberia – “flag of convenience” offshore banking centers that are not real “states” because they don’t issue their own currency, but use the U.S. dollar. Since the eurozone has been created with monetary handcuffs limiting its ability to create money to spend into the economy beyond the limit of 3 percent of GDP, why not simply throw in the financial towel and adopt the U.S. dollar, like Ecuador, Somalia and the Turks and Caicos Islands? That would give foreign investors security against currency depreciation in their rising trade with Europe and its export financing.

ORDER IT NOW

For Europe, the alternative is that the dollar-cost of its foreign debt taken on to finance its widening trade deficit with the United States for oil, arms and food will explode. The cost in euros will be even greater as the currency falls against the dollar. Interest rates will rise, slowing investment and making Europe even more dependent on imports. The eurozone will turn into an economic dead zone.

For the United States, this is Dollar Hegemony on steroids – at least vis-à-vis Europe. The continent would become a somewhat larger version of Puerto Rico.

The dollar vis-à-vis Global South currencies

The full-blown version of the New Cold War triggered by the “Ukraine War” risks turning into the opening salvo of World War III, and is likely to last at least a decade, perhaps two, as the U.S. extends the fight between neoliberalism and socialism to encompass a worldwide conflict. Apart from the U.S. economic conquest of Europe, its strategists are seeking to lock in African, South American and Asian countries along similar lines to what has been planned for Europe.

The sharp rise in energy and food prices will hit food-deficit and oil-deficit economies hard – at the same time that their foreign dollar-denominated debts to bondholders and banks are falling due and the dollar’s exchange rate is rising against their own currency. Many African and Latin American countries – especially North Africa – face a choice between going hungry, cutting back their gasoline and electricity use, or borrowing the dollars to cover their dependency on U.S.-shaped trade.

There has been talk of IMF issues of new SDRs to finance the rising trade and payments deficits. But such credit always comes with strings attached. The IMF has its own policy of sanctioning countries that do not obey U.S. policy. The first U.S. demand will be that these countries boycott Russia, China and their emerging trade and currency self-help alliance. “Why should we give you SDRs or extend new dollar loans to you, if you are simply going to spend these in Russia, China and other countries that we have declared to be enemies,” the U.S. officials will ask.

At least, this is the plan. I would not be surprised to see some African country become the “next Ukraine,” with U.S. proxy troops (there are still plenty of Wahabi advocates and mercenaries) fighting against the armies and populations of countries seeking to feed themselves with grain from Russian farms, and power their economies with oil or gas from Russian wells – not to speak of participating in China’s Belt and Road Initiative that was, after all, the trigger to America’s launching of its new war for global neoliberal hegemony.

The world economy is being enflamed, and the United States has prepared for a military response and weaponization of its own oil and agricultural export trade, arms trade and demands for countries to choose which side of the New Iron Curtain they wish to join.

But what is in this for Europe? Greek labor unions already are demonstrating against the sanctions being imposed. And in Hungary, Prime Minister Viktor Orban has just won an election on what is basically an anti-EU and anti-U.S. worldview, starting with paying for Russian gas in roubles. How many other countries will break ranks – and how long will it take?

What is in this for the Global South countries being squeezed – not merely as “collateral damage” to the deep shortages and soaring prices for energy and food, but as the very objective of U.S. strategy as it inaugurates the great splitting of the world economy in two? India has already told U.S. diplomats that its economy is naturally connected with those of Russia and China. Pakistan finds the same calculus at work.

From the U.S. vantage point, all that needs to be answered is, “What’s in it for the local politicians and client oligarchies that we reward for delivering their countries?”

From its planning stages, U.S. diplomatic strategists viewed the looming World War III as a war of economic systems. What side will countries choose: their own economic interest and social cohesion, or submission to local political leaders installed by U.S. meddling like the \$5 billion that Assistant Secretary of State Victoria Nuland bragged of having invested in Ukraine’s neo-Nazi parties eight years ago to initiate the fighting that has erupted into today’s war?

In the face of all this political meddling and media propaganda, how long will it take the rest of the world to realize that there’s a global war underway, with World War III on the horizon? The real problem is that by the time the world understands what is going on, the global fracture will already have enabled Russia, China and Eurasia to create a real non-neoliberal New World Order that does not need NATO countries and which has lost trust and hope for mutual economic gains with them. The military battlefield will be littered with economic corpses.

 
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  1. Jim H says:

    ‘The eurozone will turn into an economic dead zone … a somewhat larger version of Puerto Rico.’ — Michael Hudson

    Sounds about right.

    And that’s BEFORE the liquidationist policy announced in the Federal Reserve’s meeting minutes yesterday, in which they fantasize shrinking their \$9 trillion balance sheet to a pre-covid \$6 billion.

    Of course, something will break before such a radical monetary starvation plan can be completed.

    But when the Everything Bubble fomented by 14 years of on-and-off Quantitative Easing pops, it will resemble a global Depression, with crashed markets adding to the miseries of inflation and unemployment.

    My recommendation to Jerome Powell: LEAVE NOW for a country that has no extradition treaty with the US.

    Tehran is beautiful in the spring, I hear.

    • LOL: chris
    • Replies: @Bite Moi
    , @anon
  2. Simpler explanation is Jews are crazy.

  3. FKA Max says: • Website

    All three of these trade dynamics will strengthen the dollar vis-à-vis the euro. The question is, how will Europe balance its international payments with the United States? What does it have to export that the U.S. economy will accept as its own protectionist interests gain influence, now that global free trade is dying quickly?

    The answer is, not much. So what will Europe do?

    German and Northwestern European exports to the U.S. will increase dramatically with a weaker Euro, plus more American tourists will visit Europe because it will be more affordable again, which will benefit the poorer European South especially, and well-off Americans might even send their children to European universities, boarding schools, etc. to get a high-quality, bilingual education on the cheap.

    I wrote comments on the advantages of this “friend- or ally-shoring” here: https://www.unz.com/pescobar/rublegas-the-worlds-new-resource-based-reserve-currency/#comment-5277075 and https://www.unz.com/pescobar/sit-back-and-watch-europe-commit-suicide/#comment-5278812

    “ALLY-SHORE” TO RESTORE U.S. ECONOMIC LEADERSHIP AND PROTECT DEMOCRACY
    Jan 30, 2022
    https://www.ourtownsfoundation.org/ally-shore-to-restore-u-s-economic-leadership-and-protect-democracy/ or https://archive.ph/mrIvL

    Intel alone is planning to invest \$88 billion USD in Europe: https://www.cnet.com/tech/computing/intel-announces-88-billion-megafab-to-keep-chipmaking-in-europe/

    This has all been part of the following strategy, by the Biden Administration:

    BUILDING RESILIENT SUPPLY CHAINS, REVITALIZING AMERICAN MANUFACTURING, AND FOSTERING BROAD-BASED GROWTH
    June, 2021
    https://www.whitehouse.gov/wp-content/uploads/2021/06/100-day-supply-chain-review-report.pdf

    Watch Intel’s CEO Reveal \$88 Billion Chip Megafab in Europe
    Mar 16, 2022

  4. Petermx says:

    “why not simply throw in the financial towel and adopt the U.S. dollar…For Europe, the alternative is that the dollar-cost of its foreign debt taken on to finance its widening trade deficit with the United States for oil, arms and food will explode.” The other alternative is for Europeans to stop this lunacy, stop acting like colonies of the US and bowing to Queen Victoria [Nuland] and assert their own interests. As of now, Europe has no trade deficit with the US and the 20 year old EU never had a trade deficit with the US. The US has a big trade deficit with the EU – 167 billion dollars in 2021 and this will only end and become a surplus for the US if EU leaders betray their own peoples and deliberately sabotage their own economies, which is what they are doing right bow. If these idiots leading Germany and the EU don’t stop what they’re doing, maybe they need to happen to them what happened to the French aristocracy in the French Revolution.

    Prior to the Russia-Ukraine war the US dollar was approaching collapse and despite Europe’s apparent willingness to sacrifice what they still have of their wealth and prosperity for the Americans and the Jews that lead them, they can stop acting like a colony of the US any time to stop the disaster they are about to bring on themselves.

    As Mr. Hudson said, “European trade and investment prior to the War to Impose Sanctions had promised a rising mutual prosperity between Germany, France and other NATO countries vis-à-vis Russia and China. Russia was providing abundant energy at a competitive price, and this energy was to make a quantum leap with Nord Stream 2. Europe was to earn the foreign exchange to pay for this rising import trade by a combination of exporting more industrial manufactures to Russia and capital investment in developing the Russian economy, e.g. by German auto companies and financial investment.”

    As noted earlier in the article, that promised prosperity did not extend to the US, but rather a steep decline in wealth, power and standard of living and possibly economic collapse for the US. The idea of Germany and Europe being big trading partners with Russia dates back to the establishment of the euro in 2000 and earlier already. Europe could stop this disaster their cowardly leaders have brought upon themselves by freeing what their gangster leadership stole from Russia (emulating the biggest gangsters, the Americans), opening up Nordstream 2 and work on repairing relations with Russia.

  5. Bite Moi says:
    @Jim H

    Jim H————–No need to travel to the Eurozone to see liquidation. You can just get admitted to your local hospital with a covid diagnosis.

  6. Notsofast says:

    thank you dr. hudson for this insightful article, both you and pepe escobar draw the same conclusion that the real target for the neocons is europe and nato members especially. as the russians are kept busy blowing up all the antiquated military hardware and munitions in the e.u., the e.u. will have to replace it all with shinny new u.s. weapons. as the e.u. industrial base is starved of materials and energy, it will begin to fail and vultures will move in. with freshly printed greenbacks, boosted by the purposeful devaluation of the euro, the e.u.’s industry’s will be purchased with with monopoly money. this is exactly what they did to russian in the 90’s. they will bleed the u.s. economy as much as they can without totally destroying the value of the dollar and when the e.u. is bled dry they will then turn on and finish the u.s.

    • Replies: @Rev. Spooner
  7. Europe was to earn the foreign exchange to pay for this rising import trade by a combination of exporting more industrial manufactures to Russia and capital investment in developing the Russian economy, e.g. by German auto companies and financial investment.

    The key is that the Russian gas trade was paid in euros. That in turn boosted demand for euros thereby creating a strong base upon which to evolve the euro in to a reserve currency. The reserve currency dream is over, and the euro will therefore become increasingly unstable as use of the currency declines. It won’t be long until the euro will become a favourite plaything of the money markets leveraging the ECB needs to balance interest rate policy between the need to protect those member countries with high debt levels and satisfying Germany’s pathological fear of inflation.

  8. The first domino falls:

    “Hungary’s authoritarian leader breaks with the EU, saying he’ll pay for Russian gas in rubles”

    https://news.yahoo.com/hungarys-authoritarian-leader-breaks-eu-133343444.html?fr=sycsrp_catchall

    The title is absurd. He was just reelected by a wide margin. “wise leader” is correct. Austria already announced that it must buy Russian gas. Maybe they can form an economic block called Austria-Hungary and become rich selling gas to the EU that it imports from Russia.

    • Agree: Franz
    • LOL: nokangaroos, Sepp
    • Replies: @Franz
    , @PetrOldSack
  9. Wokechoke says:

    It was all about Germany after all

  10. Athena says:

    Thanks to NATO and its US-UK bankers, the West will lose and need to restart its own currency. Which will be long and painful.

    Only Russia, in an alliance with the Muslim world, can keep China in check and help her find her place in this new global world order (which was said by certain intelligence services just after 911, meaning, don’t go invade Afganistan and Iraq to buy a couple of years of life to the petrodollar, as China has already the golden billion, and now has all nuclear secrets of the West — given by a certain ”elites” in the West).

    Instead of following this sound advice, the NATO LOSERS did all they could do to remove Russia from the great game since 911. Thanks to NATO and to the apathy of the West, the US, UK, Canada, and EU will lose everything. China WON the game a long time ago.

    If NATO continues to fuel all already existing conflicts it created in the Near- and Middle-East, and causes disintegration of the Russian federation, China will win anyway. China will probably remain silent, until NATO strikes again in Taiwan, then China will become active, and active in the military sense. China will win, and then move to the ”new territories”.

    This script was in the Novaya Gazeta, 1 month after September 9, 2011. It mentioned that Antrax was just of a prelude.to create FEAR (Islamophobia,, or the illusion of a global terrorist force) here in America, and over there in Europe.

    • Replies: @TREG
    , @Larry5G
  11. With a clearly impaired POTUS and a prone-to-blabbering VP, who is it exactly in the deep state that controls the unhinged insane always escalating “sanctions”? Can’t be Milley or Blinken. The latter is clearly a puppet at best. State department interns ? The Cabal of who ?

  12. Franz says:
    @Carlton Meyer

    Hungary’s authoritarian leader breaks with the EU

    Definition: An “authoritarian leader” is any leader using his authority to advance the peace and prosperity of his own people.

    Synonym: Philosopher King.

    Antonym: Joe Biden.

    • Thanks: Sarah
  13. @Carlton Meyer

    Maybe they can form an economic block called Austria-Hungary and become rich selling gas to the EU that it imports from Russia.

    The gray-zone effect, remember when Vienna was a traders den, back in Sovjet times?

    As a side-thought, the Global Finance Cabal is the one that tries to erect the “iron curtain”, they wind up with little in the best of scenarios as compared to their ambitions. What about China, India, Japan? The article needs a follow up. It is a prospective peep to the inside, it lifts part of the veil only. Prospective is key.

    Another mention: How can WE’s “leaders”, politicians go against rational interests and stay elected by their local peasantry? There will be a new generation of politicians to be paid for by the International Finance Cabal. The “move” turned out to be an expensive one, it seems. A lot of transaction volume will disappear out of the grasp of the West for Western elites. A far off, i still can see van der Leyen, and Scholtz ending up in a US East Coast condos instead of following orders from their Cabal palaces in WE. Color “revolutions” (Russia version) in WE?

    There is the positive side effect of “central” control on both sides of the curtain, this can be a sanitizing element, it also lessens the dependency on a single Corruption Incorporated, but smears graft and skimming over all players.

    i agree with Hudson, the biggest loosers are of course the WE peasants.

    The Finance Cabal is not about to be relocated, London and Washington stay apt for residence. That is a way of saying “chicken”. As ex US presidents, they seem to be “pegged” to their territory.

    There was a decision on the move, all this is more improvisation then systemic execution of a plan. My guess is that the global elites are way below their goal setting. There must have been an “independent” channel of negotiations between Russia — China — London — Washington of the real power-brokers and some conclusions drawn upon recently (“chicken out”, of both sides?).

    Do not expect this new “status quo” to last in the long term.

    Always an element of hope: there will be a certain volume of trading through middle-men “pirates” along the borders of the “blocks”, that are new at the game, always a good thing. This creates with probability a new cast and class that stirs mobility in society. There also might be some individuals, that by having forced and defaulted to one side of the ail or the other, will make their own choices (Corporations, re-locations, dissident lesser players of the “entrepreneurial” kind).

    Propaganda will take a dent? The “knip”, “le porte-monnay”, the “wallets” of the local peasants of Western Europe will do some talking until they conform to their new half-way house (Haiti is known for having some citizens eating dirt in circumstances, it might go as far as that in Western Europe, slavery engenders more mental morbidity).

    Across the globe, large part of the global population has been written of as far as quality of life is concerned, Muslim breeding?, White breeding, Negro breeding?, migrations, …more of central control in the hands of the High Priests that run the farm.

    Territory, it’s meaning (territory is not appreciated in global rule) seems to surprisingly have regained zip and even importance, a strong indicator that planetary matters, the long term, quality of life of the most, net progress, the future of man-kind is on the back burner. Territorial squaring and short term tactics do not engender meaningful advancement and can as now turn into net regress. A pastoral painting on synthetic oil cardboard?

  14. @Priss Factor

    That’s being very kind. They can’t be blamed if they are crazy.

  15. “ The result today is a clash of economic systems – socialist industrialization vs. neoliberal finance capitalism.”

    This sentence sums up the whole current confrontation. Europe is leaderless and sliding, weak emerging markets will bow to the US absent a strong response from China and Russia to deal with their humanitarian needs, Russia and China will keep cooperating and keep the neoliberal barbarians at bay. It is a matter of who has the deeper breath and I would place my bets on those countries with a real economy as opposed to those of finance capitalism.

    Thanks Mr. Hudson for an illuminating article.

  16. Yeah, socialism’s good.

    But China? Aren’t they locking down people utterly, can’t even leave your house, for months at a time?

    And that fucking social credit score. If they get that here, that’s the end for me and most of you on here, too.

    • Agree: RadicalCenter
    • Troll: Justrambling
    • Replies: @Alrenous
    , @JR Foley
  17. Petermx says:
    @Petermx

    On the other hand, the dollar could take a deep dive against other currencies and that would leave Europe buying cheap oil and gas from a struggling US. The US has done nothing to indicate it can solve its exploding debt problem. They are about to take a baby step next month and raise the rate 1/4 or 1/2 percent, which will do nothing to curb inflation.

  18. utu says:

    Poor Hudson does not like sanctions on Russia so he invents a crisis for EU trying to stoke anti-American sentiments among Europeans. Russia is pretty much meaningless to EU. Russia accounts for only 4% of exports and only 6% of imports for EU. Can EU live happily w/o Russia? Absolutely. EU exports and imports to non-EU Switzerland are larger. Would Hudson prophesize a doom to EU if Switzerland with population of 10 million suddenly vanished?

    All Russian agents of influence got activated for the propaganda war. Look what Russian/Chinese asset Pepe Escobar writes at the same time: “Sit Back and Watch Europe Commit Suicide.” I guess the orders from Lubyanka for this week was to attack the sanctions against Russia by scaring Europeans that w/o Russian they all going to starve, have Weimar hyperinflation and will have to buy black market goods with dollars.

    In times of crisis foreign assets and foreign agentur are exposed and compromised when the call all hands on deck comes.

    Trade in goods by top 5 partners, European Union, 2020
    https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Extra-EU_trade_in_goods

    • Agree: FKA Max
    • Disagree: Petermx
    • LOL: RoatanBill
    • Troll: fran
  19. @FKA Max

    will increase dramatically with a weaker Euro

    There’s a significant difference between “weaker” and dead. The fiat currency regime, at least in the west, is nearing its end with most nations burdened with debts that can never be repaid honestly. It’s a race to the bottom for which currency collapses first with the Euro leading the pack. Given the interconnectedness of western finance, it will lead to a chain reaction of catastrophes that will take them all down in succession.

    https://www.goldmoney.com/research/goldmoney-insights/the-commodity-currency-revolution

    Your analysis assumes that a further weakening of the Euro will make it’s users more competitive in a world market. That might have been reasonable decades ago, but now any weakening will be the result of inflation / hyperinflation as they try to fend off their idiotic sanctions that have boomeranged back to help ruin their economies. Without sufficient fuel to keep their economies running, their future is high unemployment, many business bankruptcies, Euro printing till the cows come home to try to put a monetary bandage on a terminal head wound, self inflicted by those genius bureaucrats in Brussels.

    • Replies: @FKA Max
  20. It is now clear that today’s escalation of the New Cold War was planned over a year ago, with serious strategy associated with America’s plan to block Nord Stream 2 as part of its aim of blocking Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia.

    As I remarked the other day, this just does not make sense. It may even be possible that there was such a plan, but it was completely ineffective. The Nord Stream 2 deal was closed and proceeding apace to be implemented when Russia decided to invade Ukraine. Putin is a moron. I must confess that I feel kind of good about it, because I live in Brazil and that way at least I don’t have to bear the shame of having the biggest moron of the Earth as president (he is probably the runner up or in the whereabouts though).

    • Disagree: RadicalCenter
    • Replies: @anon
  21. PJ London says:

    PJ London
    41 days ago

    What Putin understands and a few deep in the bowels of Basel Switzerland, is that this is a war to the bitter end for control of the whole world.
    If Putin loses then The western Orwellian 1984 dystopia becomes reality for 70% of the world’s surface and will be imposed on the rest, piece by piece until it rules the whole world. Phony wars and total slavery of the mind in perpetuity.
    If Putin wins (and he has to defeat the US or at least its’ will to physically confront) then there is a chance for some kind of peaceful co-existence based on the principles of sovereignty and mutually beneficial exchange.
    The US will be economically powerless and revert to a level of power equivalent to Portugal or maybe Brazil. It will no longer dominate or have any pressure to enforce its’ will.

    “they so intensely believe Russia’s decades of imperial ambitions and its inhumane actions against Ukraine and its current defiance of international law by playing endlessly with globally accepted boundaries must be stopped.”
    The big boys know that Russia was forced into Ukraine by the US and the Munich meeting where it was seriously discussed that Ukraine would repudiate the Budapest Treaty and resume Nuclear weapons.


    40% of Ukrainians are Russian speakers and in 2014 about 30% of Ukrainians could not speak the Ukraine language.
    Russia has issued over 2 million passports to people of the Donbass who have already fled to Russia.
    Ukraine killed hundreds in the first few days, 13,000 in the next 8 years and are slaughtering any who try to flee to Russian lines. This is not disputed and you can find 10s of videos showing the Ukrainians killing civilians by artillery and by rifle shots to the back of the heads. Any military aged male who is not employed by the government or in the military is shot, not imprisoned or fined, just shot. They are not allowed to leave the country and penalty for attempting it is execution.
    The mass migration to the EU is not because of the war, millions of Ukrainians have been trying to migrate since 2014, without the war and their new status as “refugees” they were rejected by all countries. In 8 years only about 3/4 million succeeded. Thanks to Putin, more than that many have made it in only 3 weeks


    “Through Russia comes the hope of the world. Not in respect to what is sometimes termed Communism or Bolshevism — no! But freedom — freedom! That each man will live for his fellow man. The principle has been born there. It will take years for it to be crystallised; yet out of Russia comes again the hope of the world.” ~
    Edgar Cayce C 1935

    • Thanks: Sarah
    • Replies: @RobinG
    , @Rev. Spooner
  22. FKA Max says: • Website
    @RoatanBill

    Russia and China are the two main countries the E.U. has a trade deficit with. What do you think happens to their economies and their prosperity when purchasing power in Europe falls…
    Source: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Extra-EU_trade_in_goods or https://archive.ph/LZH51

    Also, as I pointed out many times before, the E.U. has the largest central bank gold holdings/reserves in the world, a combined over 10,000 metric tons (mostly owned by Germany, Italy and France, and most of it stored with NYC Fed at 33 Liberty Street): https://en.wikipedia.org/wiki/Gold_reserve and https://en.wikipedia.org/wiki/Federal_Reserve_Bank_of_New_York_Building#Gold_vault

    In a worst case scenario, the E.U. countries can always sell some of that gold to stabilize the Euro currency or directly back the Euro with gold. German private citizens also hold a lot of gold: Germans own over 9,000 tonnes of gold German private households hold more than 6 percent of the world’s gold reserves https://www.mining.com/web/germans-own-over-9000-tonnes-of-gold/

    That’s why Germany made it through the 2008-2009 GFC so relatively unscathed, because Germans don’t trust stocks and besides Cash prefer to hold hard assets like gold and real estate (without much leverage/debt) aka “Betongold” https://de.wikipedia.org/wiki/Betongold (concrete gold).

    Germans reluctantly switch to stock market in search of returns
    April 18 2019
    Source: https://www.ft.com/content/a94e51e8-55ec-11e9-91f9-b6515a54c5b1 or https://archive.ph/I3O9K

    • Replies: @RoatanBill
  23. @FKA Max

    What do you think happens to their economies and their prosperity when purchasing power in Europe falls…

    When Europe falls, the rest of the world will be affected and the dominoes will start to fall, including Russia and China. No one will be spared. The pain each country experiences will vary depending on how self sufficient they are.

    The primary problem with the west is that the countries involved no longer manufacture much. They have gone into services, financialization, etc. Once the SHTF for the west, they will be hard pressed to obtain what is giving them their trade imbalance currently because no one will want their currencies. Everyone will want what Russia and China have, namely, food, fuel, minerals, manufactured goods. For the west to give up their gold for the necessities of life is equivalent to eating the seed corn when it comes to trying to restart an economy on a hard currency reset.

    Russia is self sufficient in food and fuel. China currently has stored tremendous amounts of food. “By mid-2022, China will hold 69% of the world’s corn reserves, 60% of its rice and 51% of its wheat, according to USDA predictions.” source : https://www.foodprocessing.com/industrynews/2022/china-accused-of-hoarding-grain/

    Russia can supply China with the fuel it needs, especially if they have to curtail much of their manufacturing during a world wide downturn. Russia can also supply food to China if necessary. Neither is going to starve but the same can’t be said for the rest of the world especially since the conflict zone produces a huge portion of the world’s food and fertilizer that is now off the market.

    most of it stored with NYC Fed at 33 Liberty Street

    After 9/11, there was talk of the gold disappearing from the NY fed’s underground vault. That story faded from the news very quickly, so there’s no telling if it’s true or a hoax. However, anyone thinking that the US has provided honest custodial services for other nation’s gold should definitely look into the bridge I have for sale.

    As far as who has the most gold, I listened to an Alasdair Macleod video where he speculated that Russia and China combined have 58,000 tons and he’s in the precious metals business, unaffiliated with gov’t. The gold stored in the US probably has multiple owners via hypothecation, leases, etc and since the US gold supply hasn’t been audited since, I believe, the late 1950’s no one knows how much gold still exists. That’s not counting the gold stolen from the various countries the US has invaded, like Libya or simply absconded with other nations gold held in trust. It took Germany several years to get a fraction of their gold back after they requested all of it returned and what they got was not their original serialized bars. Why do you think that is?

    In the very near future, all the people that have been labeled as tin foil hat “preppers” and “stackers” will be vindicated.

    • Agree: JR Foley
    • Thanks: Fred777, showmethereal
    • Replies: @FKA Max
    , @elysianfield
    , @Kali
  24. @utu

    All Russian agents of influence got activated for the propaganda war.

    I wonder whether they receive coordinated instructions. For example, before the invasion, were they all instructed to dismiss the invasion as hysteria? Was Anatoly Karlin’s dissension calculated? Or is he an independent agent? What about the apparent critiques by Paul Craig Roberts addressed at Putin’s excessively kind warmaking or Mike Whitney’s scathing critique of the Russian Central Bank’s director? Is all this just smokescreen of some kind? Speaking of Karlin, there was another Russian who predicted the invasion: Vladimir Zhirinovsky, in December. He died of Covid-19 a few days ago, reportedly.

    Zhirinovsky claimed to have been vaccinated against COVID-19 eight times.

    https://en.wikipedia.org/wiki/Vladimir_Zhirinovsky
    PS: Escobar’s column you cited is very funny, the few excerpts I have read anyway. He quotes a guy saying Romania and Poland are next on Putin’s list.

    • Replies: @utu
  25. Cookie says:

    Russia in danger of default on foreign debt?

    Why doesn’t Russia offer debtors a 10% premium for assets frozen by the U.S?

    Make a deed of transfer, then the U.S are in fact freezing other nations or foreign companies assets…not Russian.

    So these debtors have a real chance of getting something as opposed to nothing.

  26. utu says:
    @Brás Cubas

    One would need to do a serious research to do the taxonomy of Russian agentur in the West: Russian agents of influence, Russian assets, Russian shills, useful idiots and contrarian mavericks. It takes all kinds. They create cacophony of noises but there is one coherent message: The West is bad, hypocritical and aggressive while Putin is peace loving victim while at the same time he has incredible Wuderwaffe that can burry the the West.

    The agentur’s greatest propaganda success was to convince a lot of people that (1) Russian army was indomitable, that resistance was futile, that once Putin unleashes it a pro Russian government in Kiev would be installed in 48 hours and that (2) Russia will not invade, Russia is conducting some training exercises and accusation of Russia by American and British media of planning an invasion were just vile lies as usual. Both (1) and (2) were meant to prevent the West from arming Ukraine. Ron Unz was strongly pushing (1) and (2).

    The deep states of the UK and the US did not buy to it and were actively training and arming Ukrainians while media and politicians were sputtering nonsense. In the Western Europe and in Germany, in particular there was skepticism about warnings form CIA and MI6 but in fact it was obstructionism as they in some sense gave Putin green light to do what he wanted, so they did not want to hear what Americans and Brits were saying. Germany even did not allow RAF plane delivering weapons to Ukraine fly over Germany’s territory (Jan 18).

    What about Karlin? He is nobody. In some sense he is like the gadfly Zhironvsky who occasionally expresses hidden desires of Russians which they are ashamed to admit: We are the master race, supermen, Russia’s big and good….blah blah, blah but Karlin has no reach and no platform. Ron Unz outfit is a niche marginal outfit with limited reach and more it becomes obviously pro Putinist and pro Russian more it marginalized itself. Ron Unz is smart guy but one can question his common sense as he allowed himself to put himself on the spiral trajectory down the tube.

    I wrote something about Karlin, Zhirnovsky and Ron Unz in February when the official line that Russia had no intention of invading anybody was being pushed by Russian agentur and very strongly by Ron Unz:

    https://www.unz.com/akarlin/open-thread-175/#comment-5185336

    Only Karlin was expressing his wishful thinking and he got it right though he was wrong because he bought into the indomitability of Russian army fantasy.

    Russian spirit must be broken. It is already broke but they live in the world of fantasies of Russia greatness. Imagine Germany after WWII w/o occupation forces and w/o denazification. This is Russian now. They are defeated but they are in denial so they feed their fantasy with Putin Wunderwaffe and indomitable Russian army and fantasy that the West will collapse any day now because of gays, trannies an immigrants.

    Is the agentur coordinated by its handlers? Sure it is but many of them are smart to know what is the direction of the wind so they can divine what Moscow wants and it is much less risky than during Stalin when you had to be very careful not to be caught in believing what was written in Pravda yesterday while today’s Pravda already said something opposite.

  27. Yevardian says:
    @utu

    I just wanted to say over the past month or so, combined observing the reality of actual events, you’ve changed my mind. It’s an interesting psychological process to experience when it’s something you’re very attached to.

    But what sort of future do you see for Russia (and by extension, Central Asia, Armenia, Georgia the Caucasus) now? Can you see any viable alternative to the American liberal order? It all looks extremely bleak to me.

    • Replies: @German_reader
    , @utu
    , @peterAUS
  28. FKA Max says: • Website
    @RoatanBill

    China Can’t Solve Russia’s Energy Technology Trap
    Russia has been heavily dependent on Western technology. China is unlikely to be a replacement.
    February 13, 2015
    https://thediplomat.com/2015/02/china-cannot-solve-russias-energy-technology-trap/ or https://archive.ph/kUYpv

    Today Russia’s hydrocarbons are becoming harder to find and more expensive to produce even though the country’s technologically underdeveloped economy relies increasingly on the revenues they ensure.

    Also, the E.U. is a huge grower, refiner and exporter of food and drink, most of the European food and drink imports come from Brazil, the U.S. and Norway, and it actually net-exported food and drink to Russia and China, and the figures and charts below (Click the MORE tag) were from 2018 when the U.K., which is a major importer of food and drink, especially in the winter, was still a member of the E.U. The Saudis, et al. (GCC) will keep trading their fossil fuels in exchange for European food, drink, technologies and manufactured goods. Granted, Russia and China are important suppliers of certain commodities and manufactured goods, etc., but you make it sound as if the rest of the world couldn’t function without them, which I believe is not the case.

    [MORE]



    • Replies: @RoatanBill
  29. Athena says:

    Before the US-Nato war on Ukraine, Russia was supplying electrical energy to Eastern Ukraine via an HVDC link. The West hates competition.

    https://en.wikipedia.org/wiki/List_of_HVDC_projects

    HVDC Volgograd–Donbass
    https://en.wikipedia.org/wiki/HVDC_Volgograd-Donbass

    ”The HVDC Volgograd–Donbass is a 475 kilometres (295 mi) long bipolar ±400 kV high voltage direct current powerline used for transmitting electric power from Volga Hydroelectric Station at Volgograd in Russia to Donbas in eastern Ukraine and vice versa.[1]

    The Volgograd–Donbass system was the second HVDC scheme built in the former Soviet Union, following the Moscow–Kashira HVDC scheme which had already been shut down. The Volgograd–Donbass system can transfer a maximum power of 750 MW. When completed in 1965,[2] its operating voltage of ±400 kV was the highest in the world, and remained so until the completion of the ±450 kV Nelson River scheme in 1977. The scheme is today in a bad state and only operated with a voltage of 100 kV. Nevertheless, it is still being modernized, as a Google Map Picture of its crossing with M-4 motorway at 48°49′41″N 40°24′11″E shows, where one can see that new pylons for the crossing of the motorway are under construction.

    There are concerns over potential mercury contamination in the area near the Ukrainian terminal due to the risk of it being destroyed in the Ukrainian-Russian War.[3] Some towers of the line north of Smile at 48°43′21″N 38°52′20″E were destroyed in the war.”

    • Replies: @Kurt Knispel
  30. Athena says:

    Digitalization and ”cybertreats”: British colony Canada will be a template to test the Davos plan

    Siemens inaugurates critical infrastructure defense center in Canada

    https://press.siemens.com/global/en/pressrelease/siemens-inaugurates-critical-infrastructure-defense-center-canada

    ”Siemens increase its global cybersecurity offering with the official inauguration of the Critical Infrastructure Defense Center (CIDC) in Fredericton, New Brunswick, Canada. The center is the first facility of its kind in the Siemens realm dedicated to Critical Infrastructure Protection (CIP) focused on Operations Technology (OT). Services provided by the center will range from advisory to managed and research services, with a mission to secure the advancement of a decarbonizing digital world. The team of cyber experts based in Fredericton will support cyber and physical security needs of Canada as well as projects in the US, Europe and the Middle East. ”

  31. @FKA Max

    Right now, Peru and Sri Lanka are having food riots largely due to cost. Without the fertilizer that used to come out of the conflict zone, the world will be short on food production going forward until alternate sources are put on line. Future food riots will be caused by the lack of availability plus cost. Most fertilizer uses natural gas as the source of the chemistry. Guess who has the gas. Guess who has the potash.

    You can expect nations to limit or halt certain food exports, preferring to not have food riots that would destabilize their regimes. The increased costs just drive up price inflation to provide the positive feedback to ratchet up more money printing (actual inflation).

    What once was, is no more.

    The poorest countries will see a massive exodus of hungry people toward the richer nations. Europe is already overrun with low IQ unproductive people and that situation is only going to get worse unless some sanity miraculously appears. The US will continue to get flooded from the south.

    As far as technology is concerned, China is no slouch. They managed to invent their own lithography process for chips when the US sanctions got the Dutch to stop selling their world class litho equipment to China. Chip production depends on Neon gas. Guess who the largest source is.

    As with Russia, the sanctions have forced China to develop what they need internally or procure from their friends. This will continue and the Chinese graduate more engineers and PhD’s than the rest of the world combined.

    The world’s populations are splitting into two camps with the west losing while the east gains. The most recent vote at the UN to remove Russia from the Human Rights Council had fewer yes votes than the countries that voted no, abstained or didn’t show up for the vote.

  32. German_reader says:
    @Yevardian

    you’ve changed my mind.

    You’ve had your mind changed…by utu of all persons????
    I mean, sure, he’s not wrong about the character of much of the pro-Russian commentary one sees on UR (and probably elsewhere) which is mendacious and delusional. He also has a certain point that megalomaniacal visions of Russian imperial greatness need to be checked (though extremist that he is of course this turns into “Russian spirit must be broken”, there is never a middle ground for him, just as he fantasized about nuking Israel when his prime obsession was Israel and Jews a few years ago).
    But these points are hardly some special insight unique to utu. And it’s abundantly clear that he frequently doesn’t understand what he’s talking about. He doesn’t understand what enforcing the NFZ he’s demanding would mean, and when it’s pointed out to him he just ignores it. He doesn’t understand that the issue about German and European economic dependence on Russia isn’t about trade per se, but about energy supply, and that there is no consensus how bad the consequences of cutting off the gas would be (manageable or catastrophic?). He’s just bloviating. Which has always been a marked feature of his comments. He pretends to have a special insight into what’s going on behind the scenes, but there is no substance there.
    And while I will admit that his comments have enraged me (because of what I regard as malicious misrepresentation of my own views), there’s something comical and deeply pathetic about them too. He seems to imagine he’s on some heroic crusade combating the misinformation on UR, doing his part in the war against Russia etc. Probably a rather Quixotic effort, lol.

    Can you see any viable alternative to the American liberal order?

    Why would you even ask that question? The entire drift of utu’s comments in recent months was that there’s nothing wrong with that order (or “American leadership” as he put it) and that any misgivings about it are merely due to Russian subversion. Merely asking the question should probably qualify you as one of Moscow’s useful idiots or trolls.

    • Replies: @Petermx
  33. utu says:
    @Yevardian

    “you’ve changed my mind” – No, no, I cannot take credit for it. You have changed your position because you were able to see through propaganda of the side that you were partial to and how the picture painted by it was not representative of the reality. And I think I do recognize and appreciate the difficulty of the psychological process. Something similar happened to me when I had to reject some ideas that I cherished on both rational and emotional level.

    “But what sort of future do you see for Russia” – I wish I knew. It can be very scary. If depends on what people will take over after Putin. It depends if the West will be able to offer a generous way of redemption for Russia that would offer preserving dignity and offering hope for Russians. But some people will have to be prosecuted, I think.

    As far as Georgia and Armenia I think they will be adopted by NATO and Armenia will be protected by it from Azerbaijan just like Greece is protected from Turkey. I always wondered why Armenian diaspora that is so successful does not play a greater role in Armenia.

    But it is still possible that Russia will go all the way and will capture whole Ukraine but this will only prolong the agony of Russia and may increase the risk of WWIII. But personally I do not believe that anybody would use nuclear weapons with the exception of Karlin like figure in Kremlin.

  34. When the Jews forced the Euro on us, we knew that it too was a construct of evil injustice for the sole purpose of exploiting “Old Europe” and foremost the losers of the Second Jewish World War. (The Euro got enforced for the Jew by the very violent and compromisable Jew Henoch Cohn, aka Helmut Kohl, together with the corrupt and compromisable French psychopath Mitterrand).

    The Euro was then the 4th monetary “reform” of the Jew in Germany within a century. The people with a memory knew, that it too would take from them. The Euro halved purchasing power.

    To America all the violence it has exported with its fake dollar & Army will get reimported in multiples. The Jew, incl. the “Judeo-Christians”, as a matter of fact no member of one of the 6 Moses religions will survive the open onslaught started by them on 14th of February with the attack on the Russians. (They did and do with Russians what they did to Germany in 1939 when Hitler was forced to respond to the Polish terror. The Polish terror was then coopted by the Jew’s Vatican just like now the Jewkrainian attack on Russia.)

    The final round for the Jew and his money and his life as evil on earth is up and running and most of us will not survive. Us includes this time the US pus.

  35. RobinG says:
    @PJ London

    Thanks for repeating.

    If Putin wins (and he has to defeat the US or at least its’ will to physically confront) then there is a chance for some kind of peaceful co-existence based on the principles of sovereignty and mutually beneficial exchange.

    That’s the hope.

  36. peterAUS says:
    @Yevardian

    ….It all looks extremely bleak to me….

    Maybe the cabal in Kremlin gets replaced with somebody more nationalistic and less kleptocratic? The later in particular.

    One can only speculate how many RF soldiers lives could’ve been saved if
    https://www.superyachtfan.com/yacht/tango/
    and
    https://www.forbes.com/sites/giacomotognini/2022/03/02/update-fate-of-russian-billionaire-alisher-usmanovs-mega-yacht-in-germany-uncertain/?sh=63946de17471
    and some more, were sold and the money used to get thermal sights for those mauled BTGs vehicles.

    Current Russian elites definitely know their priorities.

    • Replies: @RadicalCenter
  37. RobinG says:
    @RoatanBill

    the fertilizer that used to come out of the conflict zone

    How are you defining conflict zone? Is it the US imposed sanction zone? Because the fertilizer in question is NOT sourced in the military conflict zone.

    • Replies: @RoatanBill
  38. @Athena

    You and/or your source call it Ukrainian-Russian war.
    You also write “before the US-Nato war on Ukraine,…”
    Jewpedia calls it the “Russo-Ukrainian War”. (Note: not Russian but Russo)

    It is neither a Ukrainian-Russian war nor a US-Nato war on Ukraine let alone a Russo-Ukrainian war.
    It is another Jewish war against mankind!
    It is the begin of the open Third Jewish World War.
    It openly started on the 14th of February with intensive shelling of the Russian settlements ordered by the Jewish regime in Kiew.
    Every war is a Jewish war!

    NATO is “US”. The chief commander of NATO is the US president.
    To write “US-Nato” is a distorting double up and for the unknowing insinuating that Nato is “Europe”. “Europe” is occupied, is a violently suppressed vassal of the “US”; again correctly speaking the Jewnighted States of Israhell.

    Terms and terminology are crucial in getting things straight, true that is.

    It is also true that woman should keep completely out of any politics.
    The Jew uses woman in politics to destroy man and hence destroy woman.

    • Agree: Irish Savant
  39. @utu

    “Russian spirit must be broken.”
    I’d say you scum of the earth will vanish to exist.

    All Russia wants is to live it’s God given life within its God given realms.

  40. Anon[396] • Disclaimer says:

    “prosperity through socialism”

    Oh give me a break.

    Look, I’m all for criticism of Western neoliberalism but dont tell me China is a socialist society. I lived there for three years and continue to do business with them. Of the 57 countries Ive been to, it’s one of the least socialist on planet earth. Chinese culture is astonishingly selfish and they are one of the least charitable peoples in the world.

    And has Hudson not noticed the astronomical property prices over there? The Chinese do their own version of rentierism.

    I understand the desire to look alternatives to American hegemony but try being realistic.

    • Agree: another fred
  41. Alrenous says: • Website

    China isn’t socialist.
    Equivalently, America is dramatically more socialist than China. E.g. American medicine is almost pure Communism, including medicine shortages and everything.

    China calls itself socialist/communist as a trick to cut down on American whining. Secondly so they don’t have to admit Mao was a mistake (and a literal glowie, not authentically Chinese in the slightest). It’s a plain lie.

  42. Alrenous says: • Website
    @obwandiyag

    Credit score is necessary in China because Han can’t be trusted if they think nobody is watching them.

    This is why ncov escaped the lab, by the way. Some Han thought nobody was watching and skimped on the biosafety protocols. They didn’t get caught by a human, as expected. Unfortunately, Nature is always watching.

    A fortiori: Han think that anything not specifically forbidden by the government is allowed, so the government has to explicitly forbid all these things in detail. Ironically this is more freedom-loving than Americans, who think anything not explicitly endorsed by the government is forbidden. On the plus side, this means Americans don’t require a social credit score, because they enforce Big Sister’s whims on each other without any such blandishments.

    You can imagine a society that doesn’t take all its behavioural cues from its head parasites, but you do have to imagine.

    • Agree: profnasty, RadicalCenter
    • Troll: d dan
  43. JR Foley says:
    @obwandiyag

    Yes —but it is better to stay at home than a stay at the funeral home—- USA 1,000,000 plus China 4,636 —NOW who cares for its citizens????

  44. JR Foley says:
    @utu

    Are you saying that somehow the Azov crew will burst out of Mariopul steelworks and liberate the Ukraine ?

  45. Steven80 says:
    @RoatanBill

    You can make ammonia (Haber–Bosch process) without gas; Fritz Haber certainly didn’t use it. Any good source of energy, such a nuclear reactor, would do the job.

    • Replies: @RoatanBill
    , @atharvaveda
  46. …plans reportedly were drawn up for a great showdown to commence in late February…
    …Russia’s preemptive defense of the two Eastern Ukrainian provinces and its subsequent military destruction…

    Due to the intertwined interactions inherent in behavioral processes, it is not uncommon for economists to confuse cause and effect (chicken or egg), sometimes intentionally. The two quotes above highlight such a reversal. There is no publicly available evidence that Ukraine had developed concrete plans to initiate a large scale attack on the Donbass region in late February.

    This is very murky; days after Russia’s war of aggression had already begun, it was claimed that the invaders had discovered such plans. This appeared to be an ex post facto attempt to justify the invasion. Hence the use by the author of words like “reportedly” and “showdown“, which could just as well refer to a defensive contingency plan. It is to be expected that a military organization would have drawn up such defensive plans after eight years of conflict.

    Since there were no reported manifestations of an imminent offensive attack by Ukraine, even after many weeks of Russian military preparations along the borders, Russia’s military invasion cannot possibly be construed to have been “preemptive“, which is relevant from a legal perspective.

    “What’s in it for the local politicians and client oligarchies that we reward for delivering their countries?”

    One of the most effective ways in which local politicians with kids can be bribed is to arrange for them to get accepted to an elite American university, along with subsequent tuition and living expenses. Politicians without teenage kids can be bribed through other means.


    …the \$5 billion that Assistant Secretary of State Victoria Nuland bragged of having invested in Ukraine’s neo-Nazi parties eight years ago to initiate the fighting that has erupted into today’s war?

    The \$5 billion refers to the cumulative amount that had been spent on investments since 1992, over a span of 22 years. I would not be surprised if some of that money trickled down to the Biden family and the families of other corrupt American politicians, including Kerry and Pelosi. We can be sure that such a large amount did not flow to “neo-Nazi parties” to initiate fighting, nor is it credible that Nuland would have ever made such a claim.

    Aside from that, what is \$5 billion compared to \$100 billion? For some additional context, it is instructive to read the following detailed news report, from eight years ago, in its entirety. It refers to the murderous kleptocrat Yanukovich, who maintained a private zoo with thousands of animals, but quickly fled the country only a few hours after he signed an agreement with opposition leaders, which called for early elections that he could not win due to his eroded popularity. His departure is still bewailed by Russian propagandists, who nostalgically refer to him as the “duly elected president“.

    https://www.reuters.com/article/us-ukraine-crisis-yanukovich/toppled-mafia-president-cost-ukraine-up-to-100-billion-prosecutor-says-idUSBREA3T0K820140430

    Reuters – April 30, 2014

    Toppled ‘mafia’ president cost Ukraine up to \$100 billion, prosecutor says

    Ukraine’s chief prosecutor has accused Viktor Yanukovich of heading a mafia-style syndicate whose crimes cost the former Soviet republic up to \$100 billion and said some of the stolen money was now being used to fund Russian-backed separatists.

    The \$100 billion figure is equal to more than half the annual economic output of Ukraine in 2013.

    • Replies: @profnasty
  47. Proverbs 6:16,19
    16 Six things there are, which the Lord hateth, and the seventh His soul detesteth:
    19 … and him that soweth discord among brethren.

    [MORE]

    — + — + — + —

    How could the fox guard chicken?
    Blame the fool stricken.
    When we don’t obfuscate
    We simply confiscate.
    You trusted us with your gold
    Didn’t you know we are so bold?
    Hegemony we aspire
    To perpetual Empire.
    If we don’t bomb, we sanction
    Our lethal aid are full of action.
    Who cares about reaction!
    Slav on Slav, Yemeni on Yemeni
    War on love, many against many.
    Neither peace nor concord
    Brotherhood we can’t afford
    We sow division and discord
    As long written on the Record.

    • Agree: profnasty
    • Replies: @showmethereal
  48. But personally I do not believe that anybody would use nuclear weapons with the exception of Karlin like figure in Kremlin.

    Errrm… The Americans have already used them twice… Thrice if you count the macarbre fall-out, radiation experiment in the Marshal islands which was a side gig to the Castle Bravo shot.

    They were also in the air (called back within minutes of detonation) targeted at Cairo (probably at the Russian base) on June 8th, 1967… Only recalled after the attack on the USS Liberty was outed as a false flag.

    They wanted to use them in Korea… It was only political expedience that stayed their hand.

    Furthermore, it is unconfirmed so take it with a pinch of salt, but there is a credible source or two that suggests that the US (and others) have developed fusion bombs with non-fissile triggers. This means that the yield can be controlled to be equivalent to a tonne of TNT upwards.

    imho) these are the most dangerous of nuclear weapons because they would have plausible deniability attached, little to no radioactive fall-out, no political consequences…. basically none of the drawbacks of conventional nuclear weapons.. It is suggested that the Bali bomb was of this nature, as were a couple of bangers let off in Syria, Ukraine and Yemen. (unconfirmed)

    Anyway, point being
    The American political and military establishment is unhinged and would most certainly use nuclear weapons if it was convenient and they thought they could get away with it. Which basically reduces to a question of whether the tapeworms in the mainstream media would be able to manufacture consent for their use. What I see outside of my front window gives me no cause for confidence.

    The Israeli’s are even more trigger happy and have a contingency plan (Samson option) to use them indiscriminately out of spite.

    • Replies: @Lee
    , @Anon
    , @Sparkylyle92
  49. Many of Hudson’s salient and esoteric economic explanations escape me, but here is my simple minded take: in true Mafia style, the US could have declared “This is nothing personal, just business”. The writing had been on the wall long before Russia launched the offensive. As has been the near total American control and colonization of Africa. All those years of anti-colonial wars of resistance gone to complete waste. Utter waste.

  50. Miro23 says:

    But what is in this for Europe? Greek labor unions already are demonstrating against the sanctions being imposed. And in Hungary, Prime Minister Viktor Orban has just won an election on what is basically an anti-EU and anti-U.S. worldview, starting with paying for Russian gas in roubles. How many other countries will break ranks – and how long will it take?

    If Europeans can break through the US ZioGlob media barrage and seriously look at their own interests – these represent cooperation rather than a trade war with China and Russia.

    There’s that basic fact that both China and Russia produce goods/raw materials that Europe needs – in contrast to the US which mostly only produces propaganda, threats, wars + bubble economics.

  51. @RobinG

    All of Ukraine is in the conflict zone. That zone also includes neighboring countries that are impacted by the belligerents with regard to shipping via the black sea. Of course, Russia is a part for various reasons.

  52. @utu

    How you have fallen from heaven, O morning star, son of the dawn! You have been cast down to the earth, you who once laid low the nations!

  53. @utu

    Thanks for the reply. I have a few quibbles with some things you said, but only praxis-related ones, because I am not as forceful as you are about some things. Some things are easier said than done, and that goes for both sides of the conflict. Anyway, the view from Brazil is a different one.

    • Replies: @utu
    , @Jim Bob Lassiter
  54. @Steven80

    You are, of course, correct. The fly in the ointment is that the infrastructure doesn’t exist to produce the ammonia and other chemicals in sufficient supply to replace the loss the conflict area represents.

    Anything can be made up in time with sufficient need the impetus. Plants in the ground have a schedule all their own, however, and it’s looking like the world will be short of fertilizer for the crops needed quickly to avoid famine in areas. The price for food alone says some people will go hungry and that translates into some people will become dangerous.

    The idiocy on both sides is leading to a catastrophe that could be averted if the fools in gov’t didn’t have the final say. That’s why I’m an anarchist. It is always some gov’t that screws things up. It is the existence of gov’t that forms the conditions for conflict that their militaries then decide. Instead of intelligence, brute force is used to settle a disagreement on a scale that involves the entire world.

    • Replies: @Steven80
  55. Lee says:
    @old smokey

    OS said:

    They were also in the air (called back within minutes of detonation) targeted at Cairo (probably at the Russian base) on June 8th, 1967… Only recalled after the attack on the USS Liberty was outed as a false flag.

    Would like to see a link about nukes on the way to Cairo (called back within minutes of detonation)
    because of the USS Liberty incident.

  56. Lee says:

    Author wrote:

    For the United States, this is Dollar Hegemony on steroids – at least vis-à-vis Europe. The continent would become a somewhat larger version of Puerto Rico.

    This can’t be —can it?

    Mr Hudson recently posted a lengthy article about how :

    US Dollar Hegemony Ended Abruptly Last Wednesday

    So which is it?

    • Replies: @utu
    , @inspector general
  57. Emslander says:
    @Petermx

    WWIII started in September of 2019, when the real rate of interest on funds lent between big banks in the overnight NY markets went to 10%. The FED knew that it had lost control of wise money lending. They came up with a shutdown of the economy in their panic, via the phony pandemic. Now we have the need to fight poor old Russia and I’m beginning to see the eventual battle with invading aliens from distant planets.

    Whatever it takes to justify the continued printing of “not-dollars”.

    • Agree: Towey, peterAUS
  58. Anon[370] • Disclaimer says:
    @old smokey

    “ developed fusion bombs with non-fissile triggers.” Why won’t it leave radioactivity behind ?

    P

  59. utu says:
    @Brás Cubas

    “Anyway, the view from Brazil is a different one.” – I understand. I think there are good reasons why and some of them are even justified. Brazilian aspirations that led them to BRICS put Brazil on mild collision course with the West and so it is but imo it is not irreversible.

    BRICS 20 years on: A success or failure? (7 Dec, 2021)
    https://www.trtworld.com/magazine/brics-20-years-on-a-success-or-failure-52410

    • Thanks: Brás Cubas
  60. @FKA Max

    ” . . .and well-off Americans might even send their children to European universities, boarding schools, etc. to get a high-quality, bilingual education on the cheap.”

    Indeed, and get them killed/raped by some woke Yanqui hating Eurotrash — just like that Italian graduate student Davide Giride got it in that infamous park by Columbia University.

    • Replies: @awry
    , @fran
  61. @Brás Cubas

    Brazilians, of all people, should know a thing or two about what kinds of people to deal with as Brazil has a long history of experimental importation–by force in the case of Blacks and by incentivized invitations of diverse European, Asian and Middle Eastern colonies of varying sizes to advance development of the country. The agricultural, extraction, trading and environmental stewardship habits and political conflicts generated by same between these diverse groups of people is far more fascinating than the cattle vs. sheep vs. railroaders vs. slavers vs. Injuns history of the US.

    • Replies: @Brás Cubas
  62. Jon Chance says: • Website

    “But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good, also. It is absurd to say our nation can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the people.”

    – Thomas Edison

    “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

    – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

    “I believe that banking institutions are more dangerous to our liberties than standing armies.”

    – Thomas Jefferson

    https://www.youtube.com/watch?v=SSXHZGT7UqA&list=PLDVQ932i7NF0mYSx6AnGyZ14suLVxFVrT&index=21

  63. The thing about the Eurozone, unlike the US, is that it continues to produce large quantities of goods that people around the world actually want and are willing to pay for–Volkswagens, Mercedes, Audis, Porsches, Airbuses, anything by Luis Vuitton, Gucci, Chanel, etc. etc. any French wine, French cheese, practically any liqueur you can name. All the big cruise ships are built in Europe. Nobody outside of the US buys a Ford or General Motors vehicle. Boeing is struggling. US sells soybeans and iPhones–but iPhones are made in China.

    • Agree: Sean
    • Replies: @fran
  64. @JohnnyWalker123

    Priss Factor says:
    April 7, 2022 at 10:46 pm GMT • 2.6 days ago
    Simpler explanation is Jews are crazy.

    JohnnyWalker123 says:

    [MORE]

    Yes… but why?

    Abstract monotheism is bullpuckey.

    Jewish religion is acquiring wealth:

    bull-worship has been at the heart of Hebrew belief from the birth of the Hebrew religion at Mt. Sinai

    In Egypt, whence according to the Exodus narrative the Hebrews had recently come, the Apis Bull was a comparable object of worship, which some believe the Hebrews were reviving in the wilderness; alternatively, some believe Yahweh, the national god of the Israelites, was associated with or pictured as a calf/bull deity through the process of religious assimilation and syncretism.

    Levites slew those of their fellow Jews who worshipped the golden calf,

    כז וַיֹּאמֶר לָהֶם, כֹּה-אָמַר יְהוָה אֱלֹהֵי יִשְׂרָאֵל, שִׂימוּ
    אִישׁ-חַרְבּוֹ, עַל-יְרֵכוֹ; עִבְרוּ וָשׁוּבוּ מִשַּׁעַר לָשַׁעַר, בַּמַּחֲנֶה, וְהִרְגוּ אִישׁ-אֶת-אָחִיו וְאִישׁ אֶת-רֵעֵהוּ, וְאִישׁ אֶת-קְרֹבוֹ.
    כח וַיַּעֲשׂוּ בְנֵי-לֵוִי, כִּדְבַר מֹשֶׁה; וַיִּפֹּל מִן-הָעָם בַּיּוֹם הַהוּא, כִּשְׁלֹשֶׁת אַלְפֵי אִישׁ.

    “Moses stood in the gate of the camp, and said: ‘Whosoever is on the LORD’s side, let him come unto me.’ And all the sons of Levi gathered themselves together unto him. And he said unto them: ‘Thus saith the LORD, the God of Israel: Put ye every man his sword upon his thigh, and go to and fro from gate to gate throughout the camp, and slay every man his brother, and every man his companion, and every man his neighbour.’ And the sons of Levi did according to the word of Moses; and there fell of the people that day about three thousand men.”(Exodus 32:26–28)

    but that was really only a short-term solution, a way to eliminate competition and concentrate that gold in fewer hands.
    https://mechon-mamre.org/p/pt/pt0232.htm#26

    The idea remained very much alive, from that day to this day

  65. utu says:
    @Lee

    Directives from Lubyanka has changed.

    • Replies: @Sean
  66. Nat X says:

    You yt’s want the bigoted nation you built to fail.

  67. I admire Professor Hudson and read his writings dutifully but something is amiss when he starts labeling Euro states to the likes of Puerto Rico and Somalia. In as much as I deplore the US provoked war in the Ukraine by Putin, I do not think that the warmongers in Washington are going to end up on the losing side, au contraire, they will come out on top like they always do … it’s something about YHWH favoring them!

    • Replies: @Mefobills
  68. repugnant says:

    The natural turn of world events have been put on hold temporarily. What is inevitable is the “Greater Uraisan Trade Block”. It is natural for the West to trade with the East. This trading block does not include America. A paradime shift has developed in the earth not seen by the short sighted Americans. Their giving up of their industrial base to the Chinese is what caused this. The Americans were blinded by greed. The “New Silk Road” was unforeseen. This took away the “natural” trade routes of the oceans. As was the isolation of the Americas in unrecorded times, again this will come to pass as the natural trade routes take over the earth. In the end the world at large will conspire in secret to decimate the Americas while they are on their knees economically. The Americas will not know who to attack and defend against. The writing is on the wall. Payback is coming. And it’s coming faster than the blinded Americans can see.

  69. Sean says:

    It is now clear that today’s escalation of the New Cold War was planned over a year ago, with serious strategy associated with America’s plan to block Nord Stream 2 as part of its aim of blocking Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia

    How does that square with the fact that in May 2021 Biden waived Trump’s sanction on any company helping with Nord Stream 2. I seems to me that Biden actually allowed Nord Stream 2 to go ahead.

    NATO countries also will step up their purchases of arms from the U.S.

    Germany will continue to be a defence freeloader on the US taxpayer. Germany likely sees an arms export opportunity; it is a major supplier of capital goods to China

    From its planning stages, U.S. diplomatic strategists viewed the looming World War III as a war of economic systems. What side will countries choose: their own economic interest and social cohesion, or submission to local political leaders installed by U.S. meddling like the \$5 billion that Assistant Secretary of State Victoria Nuland bragged of having invested in Ukraine’s neo-Nazi parties eight years ago to initiate the fighting that has erupted into today’s war?

    There were NATO exercises held in Ukraine, even in Crimea. In 2004 ethnic Russian Viktor Yanukovych won an election for the Presidency of Ukraine but was stopped from taking office by the Orange Revolution demonstrations, which were largely orchestrated by Poroshenko, a billionaire who was the campaign manager of the winner of the re run Viktor Yushchenko.

    n 2008,over strong objections from Germany and France and at the insistence of America, there was an official announcement that Ukraine would be joining NATO. The Russians said in that case Ukraine would cease to exist. In 2010 the ethnic Russian Yanukovych managed to win the presidential election again, and after a few years he was overthrown by demonstrations yet again orchestrated by Poroshenko, who then was elected President. It was during the presidency of Poroshenko that Ukraine became a state in which integral nationalist demonstrators were able to kick out a ethnic Russian twice First prevented from taking office (2004) and then deposed in a coup (2014). Ukrainian’s integral nationalism is different to Hitler’s (or Meir Kahane’s) brand,and it’s not entirely unfair to call it ‘Nazi’. But it was fostered by Ukrainian billionaires who dislikes Russia’s influence and ethnic Russians in Ukraine

    Countries like Poland (joined NATO in 1999) and de facto Nato member Ukraine wanted to become the 51st state. Germany does what America says because underneath an idealistic camouflage Germany is a subtle mercantilist state run to maximize it’s manufacturing exports.

    So the Russian-speaking Donetsk and Luhansk regions were shelled with increasing intensity, and when Russia still refrained from responding, plans reportedly were drawn up for a great showdown to commence in late February – beginning with a blitzkrieg Western Ukrainian attack organized by U.S. advisors and armed by NATO.

    It has become clear of the Russian army that, as John Mearsheimer controversially said of the Soviet army back in the 80, its offensive capability is massively overrated, but no one knew that before the Ukraine war started, and that Ukraine would plan to attack the breakaway republics and try and conquer them is very far fetched. Assuming they had done so and succeeded Russia would have sent its army into east Ukraine in full force, 100 battalion tactical groups . Only 2 BTG were enough to kill a thousand Ukrainian troops in 2014, which led then Ukrainian president poroshenko to come to terms with the Minsk accords.

    Obama thought that sending weapons was the wrong thing to do after the fighting began in 2014, he overruled his advisors (especially Blinken) who wanted to give defensive weapons to Ukraine. Trump was persuaded to by being told that it would help American business. Poroshenko was the feted in Congress as he pleaded for weapons and Nato membership. But Trump never agreed to a meeting with Poroshenko, and did not give him Stingers. Zelensky got elected by advocating Ukraine fulfill the Minsk Accords, and the integral nationalist system incorporated into the state army by Poroshenko refused to let Zelensky him.

    It was when Biden became president that Blinken got to send a deluge of advanced weapon to Ukraine including technology for accurate artillery (Ukraine has quite a few howitzers) strikes, counter battery radar and eventually Stingers. But actually planning to drive Russia out of the Donbass? That would be a challenge, run an extreme risk of failure (defence is far easier than attack) and Russia taking the whole country. I am certainly no qualified to critique the balance of payments and exchange rate argument in the post, but while Ukraine was planning to low intensity conflict with its new weapons, I can assure you they had been taught to fear the Russian army much too much for any offensive going up to Russia’s border.

  70. @RoatanBill

    “As with Russia, the sanctions have forced China to develop what they need internally or procure from their friends. This will continue and the Chinese graduate more engineers and PhD’s than the rest of the world combined. “

    But..but.. we’ve got diversity, and that’s more important than anything! LOL.

  71. @Jim Bob Lassiter

    It is my impression that the predatory behavior towards the environment in Brazil is mostly unrelated to recent immigration or demographic issues in general. The forest-dwelling indigenous communities are said to act as protectors of the environment, that much I have heard, though I don’t know whether it is true or just propaganda.

    • Replies: @Jim Bob Lassiter
  72. Emslander says:

    Despite China’s helpful role in enabling corporate America to drive down labor’s wage rates by de-industrializing the U.S. economy in favor of Chinese industrialization, China’s growth was recognized as posing the Ultimate Terror: prosperity through socialism. Socialist industrialization always has been perceived to be the great enemy of the rentier economy that has taken over most nations in the century since World War I ended, and especially since the 1980s. The result today is a clash of economic systems – socialist industrialization vs. neoliberal finance capitalism.

    China does not have a socialist system of industrialization. Ask one of the young professionals who need two earners working eighty hours a week to live in the modern cities. The recent real estate debacle wasn’t socialism. It was bubble-driven capitalism.

    China runs a planned capitalist economy, which is pretty much what every post-modern nation now runs. All are on their last legs. What saves China is the skepticism built into their culture by 7000 years of governmental abuse.

    • Replies: @Mefobills
  73. Steven80 says:
    @RoatanBill

    You are right, there’s limited infrastructure and it will get much worse.

    Now that most farmers in the Northern hemisphere have already purchased their fertilizers, I think the real food price shock will be in 2023. There is food inflation right now almost everywhere, but it is driven mainly by increasing transportation costs.

    In a year fertilizer shortages will add up and many poor countries will beg the IMF/World bank to help them finance food shortages. Leading of course to speculation, skyrocketing prices, and riots in the dry belt (North Africa to Pakistan).

  74. anon[181] • Disclaimer says:
    @Brás Cubas

    Putin is a moron.

    There is a lot of griping about NATO & the continued “Western” encroachment on Russia.
    Based largely on fact, and also used largely to justify Putin’s continued killing of innocent civilians (and no, I’m not buying into the msm’s narrative of mass butchering, massacres, etc., but there can be doubt that there are innocent civilians being killed in this war).

    But if Putin were in fact so good & so smart he’d have developed a better response to NATO, i.e. an Arctic alliance or North Pacific alliance, or similar.
    Something better conceived than the largely ineffective CSTO.
    As it stands now, Russia’s largest allies are largely landlocked countries with authoritarian regimes.
    And many of those CSTO countries are busily fighting one another.

    After just 5 years the CSTO lost significance relevance, and lost several member states, further weakening it’s power & influence.
    And that is a critical internal failure.

    Putin really has no one to blame but himself, and his “allies”.

    • Thanks: Brás Cubas
  75. @old smokey

    That’s a lot of assertions. Links please. No links = all bullhockey.

  76. @Priss Factor

    When it gets really hot, stop the dual citizens from jumping ship and flying to Israel.

  77. awry says:
    @Jim Bob Lassiter

    More likely by a muslim or sub-saharan…

    • Replies: @Jim Bob Lassiter
  78. The 3% Eurozone national budgetary deficit limit is for the small countries only. It was enforced until France found it inconvenient and then an ‘exception’ was made. It’s been breached frequently since then.

  79. @Notsofast

    the e.u.’s industry’s will be purchased with with monopoly money. this is exactly what they did to russian in the 90’s.

    This is what happened to Germany during the hyper-inflation in the 1920’s when the New York Jews bought real estate and industries for pennies.

    • Replies: @RadicalCenter
  80. @Brás Cubas

    Supposedly the German forest people immigrant colonies took care of things pretty well too. (compared to other European immigrant colonies of the 1800s and early 1900s)

    It is my understanding that currently in Brazil it is a violation of criminal law to be overheard in a public place in a conversation in which one denounces current environmental policies and practices in the Amazon Forest.

  81. @PJ London

    The Cabal needs to be broken and ground into dust. The Cabal is led by Victoria Nuland i.e nudleman and other small hats such as Blinken.
    Here’s a list of the first ten
    1) Doug Emhoff, Jewish Husband of Kamala Devil Harris
    2) Janet Yellin, Jewish Secretary Treasury
    3) Anthony Blinken, Jewish Secretary of State
    4) Robert Klain, Jewish Chief of Staff
    5) David Cohen, Jewish Deputy Director CIA
    6) Merrick Garland, Jewish Attorney General
    7) Alejandro Mayorkas, Jewish Secretary Homeland Security
    8) Avril Haines, Jewish Director National Intelligence
    9) Wendy Sherman, Jewish Deputy Secretary of State
    10) Victoria Nuland, Jewish Secretary State Political Affairs

    The actual list has 28 names that are serving in the Biden administration at present.

    http://historyreviewed.best/index.php/list-of-28-jews-in-creepy-joe-bidens-cabinet/

    Enjoy/Weep

  82. TREG says:
    @Athena

    Question… do you have link to this post 9-11 script that you mentioned?

    • Replies: @Athena
    , @Athena
    , @Athena
  83. @Steven80

    Except that when your main problem is lack of energy, a solution that requires even more energy doesn’t really help. It takes many years to build new nuclear reactors of existing models in the first place (especially in the decaying West), and the high-temperature reactors and the sulfur-iodine cycle required for efficient production of hydrogen, one of the needed components to produce ammonia (for fertilizer), are not even developed in the West yet. (China is on the other hand now building a fleet of high-temperature reactors.)

  84. Mefobills says:
    @Emslander

    China runs a planned capitalist economy, which is pretty much what every post-modern nation now runs. All are on their last legs. What saves China is the skepticism built into their culture by 7000 years of governmental abuse.

    It’s a mixed economy, with State Banks. It is industrial capitalism. However, Michael is now calling it something else… Social Industrialization. That is fine, industrial capitalism requires a form of socialism, to inject state credit into industry and the commons (the social structure).

    Lower down in China’s system are private banks. These private banks took out block loans from the state banks.

    The block loans were then the basis for hypothecating a property bubble.

    This property bubble has then pushed up living costs. In other words, China was not socialist enough. They screwed up on the property bubble.

    https://michael-hudson.com/2018/06/chinas-housing-it-doesnt-have-to-be-this-way/

    https://jacobinmag.com/2021/11/communist-party-china-evergrande-housing-economic-crisis

    China’s empty apartments are estimated to be able to house the entire population of France, Germany, Italy, the UK, or Canada.

    Several screw ups in a row. Post Communist housing was debt free, and they did a bad job of preventing said debt free housing from being hypothecated into new debts. If you are of the right age, well it worked out ok for you because you got in early on the Ponzi, but later generations take a screw job. Then there were incentives to buy absentee housing as investments, which is more debts.

    Whenever you see absentee housing, and high levels of private debts pointing at housing, then that is a rookie mistake. It is neo-liberal economics.

    Another rookie mistake is to allow hot flows of money buy up fixed housing stock, such as what has happened in Vancouver. That would be Chinese hot flows, Yuans spilling out of China and looking for gains, especially as housing is bubbled elsewhere by those very hot flows, a self fulfilling usury scheme, where Canadians are screwed over.

    What are you going to do? There a dumb-asses everywhere. These problems are easily fixable.

    The knowledge is out there, but you cannot lead a horse to water and make him drink:

    Paul Sliker: Michael I know you briefly explained this a bit earlier in our conversation, but when we were emailing today about doing this segment, you tipped me off to a new book by the London-based economist Josh Ryan-Collins. He essentially shows that unaffordable housing is not a part of nature. That’s counter to the way most people believe that housing actually works. Can you explain that in more detail?

    Michael Hudson: Yes it’s natural for people intuitively to think that housing prices are going up because people have more money to spend, or that the population is going up. But housing prices are going up even where population isn’t, like in London or Australia. The reason prices are going up is that banks are making more and more reckless loans. They’ve lowered the down payments. They’ve stretched out the mortgages to interest-only mortgages (no amortization payments!) and they’ve basically convinced government to pick up most of the costs.

  85. @Jim Bob Lassiter

    Supposedly the German forest people immigrant colonies took care of things pretty well too. (compared to other European immigrant colonies of the 1800s and early 1900s)

    Germans immigrated primarily to Southern Brazil. Lots of Italians from Veneto went there too. They have built solid communities.
    The Amazon is where there is a lot more native vegetation. Anyway, the ones destroying it come from all regions of Brazil, and even from abroad sometimes.

    It is my understanding that currently in Brazil it is a violation of criminal law to be overheard in a public place in a conversation in which one denounces current environmental policies and practices in the Amazon Forest.

    No, this is probably untrue. The press and some of the media denounce such policies and practices all the time. The current government has no concern over environmental issues. It’s all about money. My perception is that it’s an utterly corrupt government. A few days ago the press reported that a group of military had set up a fake news organization pushing the notion that there is no destruction of the forest and things like that.

  86. @Jim Bob Lassiter

    About the environment-related fake news spread by some military which I mentioned in my other reply:
    https://www.uol.com.br/tilt/noticias/redacao/2022/04/07/militares-regiam-paginas-de-fake-news-sobre-a-amazonia-diz-facebook.htm
    (“Military Ran Fake News Pages about the Amazon, Says Facebook”)

  87. @Jim Bob Lassiter

    Here’s a related piece in English:
    Facebook takes down Brazil environmental disinformation network with ties to military
    https://www.reuters.com/technology/facebook-takes-down-brazil-environmental-disinformation-network-with-ties-2022-04-07/

    • Replies: @Towey
  88. @FKA Max

    But if rising prices eat more into Americans incomes – then how can they afford to visit Europe and send their children to school there? Cheaper Euro or not… I take it you mean the rich – who are already doing those things… Middle class people are stretched enough as is…

    • Agree: RadicalCenter
    • Replies: @FKA Max
  89. @utu

    ” Russia is pretty much meaningless to EU. Russia accounts for only 4% of exports and only 6% of imports for EU. Can EU live happily w/o Russia? Absolutely.”

    So that means the reverse is also true…. So explain the point of the sanctions then??? Other than an attempt to continue control of the global energy and currency system…

    • Replies: @utu
  90. @RoatanBill

    “In the very near future, all the people that have been labeled as tin foil hat “preppers” and “stackers” will be vindicated.”

    Rotan,
    Dead, but vindicated!

    • Replies: @RoatanBill
  91. @anno nimus

    The biggest irony is they do it all while saying “God bless America’….

  92. Mefobills says:
    @American Bulwark

    I admire Professor Hudson and read his writings dutifully but something is amiss when he starts labeling Euro states to the likes of Puerto Rico and Somalia.

    I thought it was hilarious. He also used Panama and Liberia as examples:

    I could make a modest proposal. Now that Europe has pretty much ceased to be a politically independent state, it is beginning to look more like Panama and Liberia – “flag of convenience” offshore banking centers that are not real “states” because they don’t issue their own currency, but use the U.S. dollar.

    Where is Hudson wrong? The Euro is stupid as hell, as it has a malfunction right at the heart of the scheme, and no Euro-Weenie has been able to fix it.

    Since the eurozone has been created with monetary handcuffs limiting its ability to create money to spend into the economy beyond the limit of 3 percent of GDP

    Neo-liberalism has a conceit, in that it wants a sacred space for the free flow of capital, people and goods. It is a very jewish conceit, and the word “international” used to be pregnant with meaning, but no longer.

    This sacred space idea is that the world is to link hands and sing John Lennon’s imagine together. But behind it is something much more sinister, and that is the capital class wanting to take usury either by exporting its capital to some place in the world, or importing foreign labor. This class, euphemized as ‘DAVOS MAN” brokers no interference with his ability to maneuver. Davos Man is supranational, and even harboring fantasies about becoming transcendent, to merge with machines. Davos man operates in the sacred space and no national government is to interfere with his ability to take rents and usury, or god forbid force him into debt cancellation.

    https://www.unz.com/mwhitney/central-bank-smackdown-glazyev-vs-nabiullina/#comment-5281753

    The Treaty of Lisbon limits any state from emitting Euros over 3%. This scheme caused the PIIGS crises, and now the dollar is going to turn all of Europe into PIIGs.

    https://www.hudson.org/research/14953-culture-and-religion-divide-europe-affecting-us-europe-relations

    The Treaty of Lisbon, which serves as the EU’s most important recent document, followed earlier precedents and rejected all references to God. Instead, and against the ardent objections of religious citizens and authorities alike, the EU defined itself as a secular vessel for the free flow of labor and capital. If the decade since the treaty’s effect has clarified anything, it is that this is not how most Eastern Europeans wish to define their fate.

    https://michael-hudson.com/2014/05/eu-voters-turn-against-austerity/
    ________________

    The “nationalist” parties voted against the EU constitution written by the oligarchy to favor the banks against labor. It is a neoliberal constitution ( added – Treaty of Lisbon) that prevents governments from running budget deficits of more than 3% of GDP – except of course to bail out banks and bondholders. It centralizes foreign policy in a US- and NATO-appointed bureaucracy of “technocrats.”
    _________________

    Brussel’s WEF Davos Man is already in neo-liberal alignment with Wall Street “international” creditors.

  93. Towey says:
    @Brás Cubas

    Because of the most corrupt government Brazil has ever seen, that of the PT, 67% of Brazilian territory is off limits for any kind of development at all! This is much more than any other country in the world.
    Huge swathes of land were given to Indian tribes and because Federal law does not apply to these lands, all the illegal logging and mining takes place there.
    The NGOs that dominate the Amazon and do everything in their power to impede itsdevelopment are financed by overseas associations such as the American corn growers association who don’t want the competition from more efficient Brazilian farmers. The same reason Macron tried to prevent Mercosul from reaching agreements with the EEC, to protect French farmers.
    During the government of the corrupt socialist, Lula, the industrial sector declined from 33% of the economy to 11%. That was the fastest deindustrialization rate in human history and all the industry and jobs went to China.So international forces seem determined to crush the Brazilian economy with the aid of the socialist party and to destroy industry, agriculture and mining.
    These same international forces, with the aid of the Supreme Court which is totally dominated by socialist appointees, are trying to get Lula reelected at whatever cost. They are obviously planning to do a Biden. God help us all if they are successful.
    The socialist governors, like in the USA, went along with the COVID scam and instituted the most severe lockdown with the resulting economic recession, failure of business and loss of jobs in a country where a third of the population live hand to mouth.
    The same PT government introduced legislation which made it very difficult for the general population to obtain arms and as a result the homicide rate when through the roof. This President has relaxed the rules and there has been a decline in the homicide rate.

    The PT is so hated by ordinary Brazilians that Lula can’t appear amongst the general public without being derided and insulted as a common theif

  94. Larry5G says:
    @Athena

    “China has ……all nuclear secrets of the West — given by a certain ”elites” in the West).”

    Indeed, and who are those “elities”?

    China’s first atomic bomb explosion took place in 1964, at a time when both the Soviet Union and the United States – and the entire imperialist West – were preventing all kinds of technology from reaching the PRC. That was one reason China’s first atomic bomb used U235 instead of the Pu-U system followed by earlier nuclear powers. China also broke the world record in proceeding with the hydrogen bomb in about 34 months, thus zipping past France by more than a year or two. By the 1970s China was already making nuclear submarines. Focus on building a second-strike capability took most of China’s energies and production of civilian goods.

    • Agree: showmethereal, antibeast
    • Replies: @showmethereal
  95. @elysianfield

    Speak for yourself.

    Ground zero will be in the major cities of the major countries currently comparing their dick size. If you’re far enough away from the logical spots to get wasted, then you can be among the survivors to reboot the world.

    Between now and then, being financially and physically prepared will benefit those with the foresight and intellect to understand where past events will eventually lead. Even now, most people are like a deer in headlights waiting to get slaughtered physically or economically. People are still living in crowded cities 3 days away from no food, water or sanitation, trading stocks, buying overpriced McMansions and generally living like nothing out of the ordinary is happening.

    You can’t fix stupid.
    Ron White

  96. utu says:
    @showmethereal

    “So that means the reverse is also true…”– No. This is not a symmetric situation. (EU economy is 15 times greater than Russian economy.) While for EU the trade with Russia accounts for only 5% of all trade, for Russia trade with EU accounts for 37% of all trade.

    In 2020, the EU was Russia’s first trade partner, accounting for 37.3% of the country’s total trade in goods with the world.
    https://ec.europa.eu/trade/policy/countries-and-regions/countries/russia/

  97. Kali says:
    @RoatanBill

    Another excelent and informative comment Mr Bill. Thank you.

    Best regards,
    Kali.

    • Thanks: RoatanBill
  98. awry says:
    @utu

    Yeah but the EU cannot just replace Russian gas in short term.

  99. German_reader says:
    @utu

    I have pointed out multiple times to you that the issue isn’t trade per se, but energy supply in the form of Russian oil and especially gas. Now obviously it was pretty foolish to create dependence on Russia in such a crucial sector (you can thank the German anti-nuclear movement for it), but it exists, and there is no consensus about the possible consequences of an immediate (instead of gradual) end to Russian gas imports (unless I’m misinformed Ukraine is also still importing Russian gas btw). There are some economists who claim it would be manageable, but lots of economists, industry representatives etc. are warning that the consequences could be dire, especially for German industry (and no, this isn’t a simple moral tale about “greed”, but about the risk of permanent de-industrialization in Germany, with potentially severe consequences for East Central Europe and other EU countries too).
    Now imo it’s not easy to decide what the right course of action is, obviously it is indeed morally problematic to hand over money to Russia while Russian soldiers are shelling cities in Ukraine and killing civilians. But the fact that you don’t even acknowledge the issue is yet more evidence of your boundless ignorance and arrogance. Obviously you prefer only addressing the most idiotic pro-Russian propaganda, since it reinforces your Manichaean world view and allows you to feel superior to the cretins believing it.
    (I’d like to write more, but unfortunately this blog seems to ban “personal attacks and gratuitous insults”).

  100. Mefobills says:

    Where is Hudson wrong? The picture he is sketching is predictable, and likely to happen:

    There is a U.S. imposed energy shortage, especially after Nordstream was shut down.

    The energy shortage will sharply raise the world price of gas and oil. NATO countries also will step up their purchases of arms from the U.S. military-industrial complex. The near-panic buying will also raise the price for arms. And food prices also will rise as a result of the desperate grain shortfalls resulting from a cessation of imports from Russia and Ukraine on the one hand, and the shortage of ammonia fertilizer made from gas.

    In plain English, the prices of gas, oil, and food will rise due to U.S. imposed changes to the Atlantacist neo-liberal order. The three trade dynamics are Energy Prices UP, ARMS prices UP, Food prices UP.

    All three of these trade dynamics will strengthen the dollar vis-à-vis the euro.

    Of course they will.

    The question is, how will Europe balance its international payments with the United States? What does it have to export that the U.S. economy will accept as its own protectionist interests gain influence, now that global free trade is dying quickly?

    Hudson is right, what is Europe going to export to make up for the shortfall especially in energy.

    Let’s examine the energy question, shall we. Is Oil abiotic or not? Upon this question lies the future of European people.

    https://www.unz.com/pescobar/sit-back-and-watch-europe-commit-suicide/#comment-5282712

    At link above, I suggest a way out for Europeans, especially now that they have painted themselves into a corner. The other time saving move is to adopt the dollar (it can be temporary), as Dr. Hudson suggests. The Euro WILL get out of balance relative to the dollar.

    Energy could be abundant, so the dollar imbalance in energy can be avoided.

    Quaise and abiotic are two words that should be on every European tongue, but I doubt they are listening, or even capable of understanding. Most normies are not able to think in two dimensions, much less three or four.

    The Kola super-deep borehole found water at depths where it shouldn’t have been. There is methane CH4 on Titan, so this idea of “organic” origin for oil and natural gas is likely propaganda.

    It will take too long to build new nuclear power plants, or LNG terminals.

    • Replies: @mulga mumblebrain
  101. @Towey

    During the government of the corrupt socialist, Lula, the industrial sector declined from 33% of the economy to 11%.

    Actually, Brazil’s industry has been falling steadily since 1980 at least. I don’t think the PT governments have been significantly different from their predecessors from that date onwards (Figueiredo, Collor, Franco, Cardoso) or successor (Bolsonaro) in that respect.
    Why industrial decline has been so stark in Brazil
    https://archive.ph/SBJ0V
    Where did you get the numbers you cite (and for that matter all the other information contained in your comment)?

    • Replies: @Towey
  102. Petermx says:
    @German_reader

    “he’s not wrong about the character of much of the pro-Russian commentary one sees on UR (and probably elsewhere) which is mendacious and delusional”

    If you mean that Russia had no reason whatsoever to attack Ukraine then you are delusional. They had more reason than the US had to attack Iraq twice, in 1991 and 2003. And put aside for a minute if Russia was justified in attacking Ukraine. Are France and Germany worried at all that this could lead to WW III, or are you satisfied with letting Americans run Europe’s foreign policy? If so, why? Because they love Germans and would never hurt you? LOL . Hilarious.

    “there is no consensus how bad the consequences of cutting off the gas would be (manageable or catastrophic?).” And apparently there is no consensus on how stupid it is to agree to have Nordstream 2 built and then cancel it. Did Germany pay part of the costs to build the pipeline? Then they threw that money out the window when they cancelled the pipeline. Or did Russia pay for it on their own? Will they ever trust Germany again or that doesn’t matter? Is there a consensus that Europe would be way better off if they could purchase Russian gas and could be risking disaster by telling the Russians to drop dead? Don’t act like Europe is running their own affairs, the US is and you wouldn’t dare say boo.

    Is Germany seizing Russian assets too? Would they still be doing that if the other gangster countries were not, or is that the reason they seize Russian assets, because Germany’s allies do it? It doesn’t take a German to see that Germany is subservient to everyone else. They are disgusting. They are only good for beating up on someone that is outnumbered and ganged up on, like Hungary and Russia. This is how my European friend responded when I repeated someone’s belief that Germany would finally step in and not let the euro crash and would demand measures be taken to end its demise. “The German “will demand measures”??? Starry-eyed optimist, you. I don’t see the EU, including Germany as having independent agency on anything at all. Germany has accepted being overrun by the organized invasion of “migrants,” has subscribed to the mandatory jabbing, it is sending arms when requested, gifting Israel with nuclear submarines, imprisoning the dwindling “revisionist, even octogenarians, the works!”

  103. FKA Max says: • Website
    @RoatanBill

    Right now, Peru and Sri Lanka are having food riots largely due to cost.

    Yes,

    I warned about this before https://www.unz.com/pescobar/cutting-through-the-fog-masking-a-new-page-in-the-art-of-war/#comment-5226618 and as predicted by “The Dollar Milkshake Theory”:

    The Dollar Milkshake Theory Explained

    Quant Guru Calculates Fed Can Only Hike To 1% Before It Must Halt The Cycle
    Friday, Apr 08, 2022
    https://www.zerohedge.com/markets/shocking-quant-guru-calculates-fed-can-only-hike-1-it-must-halt-cycle or https://archive.ph/w4NRF

    So combining the expansion of the Fed’s balance sheet from sub-\$4 trillion at end 2018 to almost \$9 trillion was the equivalent of the FFR falling to minus 5% (charts below)! But now that the Fed has reveresed, ending QE combined with just one ¼% hike in the headline FFR means the Shadow FFR has already jumped from minus 5% to minus 2.5% – a 250bp hike (blue line below).
    […]
    The final point: prior to Lael Brainard’s comments, the remaining 300bp hike in the Shadow FFR was split between a headline FFR rise to only 1½% with the remainder being QT. But now that the Fed minutes confirmed that the pace of QT will accelerate accelerate to \$95BN (or more) per month, Edwards concludes that “the actual FFR will struggle to get to 1% before the Fed needs to halt the tightening cycle. That is shocking.”

  104. anon[276] • Disclaimer says:

    The US is dying and has lost its prestige and influence in the world. It has no friends , only the fossilized corpse nations of western Europe and the anglosphere that are like senior citizens trapped in an old folks home called NATO. Faced with it’s own demise and seeing it’s influence waning, the US is like a senile old farmer wildly waving and firing his shotgun at any bird that he thinks is eating his corn. It won’t be long now before the old farmer has a fatal heart attack and the parasite borne disease that caused his affliction will try to move on to new victims that can host it. Only this time the whole world has a cure for this affliction and the parasite will finally die for good.

  105. Athena says:
    @TREG

    This fascinating article, entitled The third force of WWIII, the Western script, the Chinese script, was published in the Novaya Gazeta around October 9, 2001. The article, translated in english, could be viewed via Johnson’s Russia List : http://www.russialist.org/archives/2001.php.

    However, it’s no longer available (when i click on day ”9” of October, on the calendar, the message 404 Page not found appears). I get this message for all days preceding October 14. But i can read the archives for the rest of the month (and year).

    The article has always been on JRL, i.e. since 2001; i don’t know why it’s no longer available. Maybe you can retrieve it on novayagazeta.ru.

  106. Athena says:
    @TREG

    The script mentioned that a coup in Pakistan would occur, followed by unification of Afghanistan and Pakistan.

  107. FKA Max says: • Website
    @showmethereal

    Many frugal middle class Americans have large stock portfolios and lots of home equity these days, since they learned from the GFC experience that leverage/debt and spending money frivolously is dangerous and that saving and investing money is wise. Some of these people either sell or rent out their houses/apartments here in the U.S., and then move to Europe either buying real state or renting on the cheap there, and using the dividend cash flow or selling an annual set percentage of the equity in their stock portfolios (usually around 4% per year) to very comfortably live in Europe. It’s called the FIRE https://en.wikipedia.org/wiki/FIRE_movement movement:

    How We Retired Early In Portugal
    Aug 15, 2021

    “In many ways, Amon and Christina are your average American couple—they raise two daughters, enjoy foodie adventures and trips to the beach. There’s just one thing that drastically sets them apart, they retired in Portugal at the ages of 39 and 41. And they did so off of their government jobs, each making less than six figures. Through house hacking, side hustles and DIY home renovations, they earned, saved and invested their way to retirement as part of the Financial Independence Retire Early (FIRE) movement.”

  108. @awry

    Today, yes. After Europe suffers enough with this Ukraine-NATO-Russia induced economic collapse, all bets are off.

  109. @FKA Max

    How long will it take for the buck to milk her dry?

  110. Towey says:
    @Brás Cubas

    You don’t know what you are talking about. In 1999 built a hotel and EVERYTHING I needed was manufactured in Brazil, everything, tiles, bedding, equipment. Fast forward twentyyears and EVERYTHING is imported from China!
    I run a business and provide employment for a number of people. During the socialist government we had to be very wary about employing anyone because even if you complied with every bit of legislation, they could still take you to court on some trumped up excuse and you could end up losing everything. Thank God, Temer relaxed some of the labor legislation.
    As Geoghan said when he and his bank left Brazil: ‘ I used to thing football was the favourite Brazilian sport but now I see that it is suing your employer!’
    I bet you are a member of the Brazilian aristocracy,
    a civil servant, the group that received salary increases way above inflation under the socialist government.

    Nobody who tried to run a business and invested their own money ( not government finance at friendly interest rates. Lula was so generous with his friends) would never support that hell of a corrupt government that demolished the infrastructure, state industries, destroyed the educational system and allowed the drug gangs to take over the neighborhoods.
    With the tightening of the gun restrictions, the poor were unable to defend themselves. Each member of my staff lost a son or relative in the drug wars during the PT government. That is why you are so hated. And I abhor and despise anyone who tries to defend them.
    How can any country where of the the ten most best paying jobs seven are in the civil service have a future? The Brazilian dream is to get a law degree, pass a concurso and become a civil servant.

    • Replies: @Jim Bob Lassiter
  111. fran says:
    @FKA Max

    The massive energy demands in chip production will make any such venture located in Europe wholly uncompetitive on a global level. Energy is the biggest constraint in chip production and relying on American LNG to power such fabs is downright nonsensical from a practical financial perspective.

    • Agree: showmethereal
    • Replies: @showmethereal
  112. Zelensky is a jew and so is blinken.

  113. fran says:
    @Jim Bob Lassiter

    The Italian student got killed in broad daylight exiting a diner on a major Manhattan street (in Harlem). This is a few blocks from Riverside Park and Columbia University, but the crime you’re thinking of is the anti-white white girl who got shanked by some hoodlums in Riverside Park.

    • Replies: @Jim Bob Lassiter
  114. Globalists bitch about Russian interference in US politics, something that didn’t happen, but they believe they got the right to pull coups all over the nation.

    Imran Khan of Pakistan ousted by US puppets, the generals of Pakistan.
    Khan got Pinocheted.

    • Replies: @Brás Cubas
  115. fran says:
    @Matt Lazarus

    VW, Audi, and Porsche are all the same company and their cars are built all over the world using materials from all over the world. Major consolidation has occurred in the European auto industry since the 90s in order to remain competitive.

    And just about every single “high” fashion brand is owned by just two companies: LVMH and Kering. Their entire value proposition has shifted from producing luxury goods to being 98% about marketing, where athletes and rappers wear their gratis clothing with loud branding in order to appeal to aspirational instagram followers. In essence, they went from outfitting the fashion-conscious Milan crowd to the 19-year-old black NBA player who didn’t graduate high school. In addition, their goods went from being handmade by Italian & French craftsmen to having Chinese labor in makeshift Italian sweatshops glue logos onto t-shirts that can be marketed as “Made in Italy”. Like most Western industry, high fashion is a house of cards behind a facade of quality. The \$400 Gucci t-shirts that cost \$2 to produce or the \$20,000 Hermes bag that costs \$20 to produce will be the first victims in an economic crunch and these brands will be sold off for pennies, just like the Lamborghini and Bugatti of yore.

    • Replies: @antibeast
  116. antibeast says:
    @fran

    VW, Audi, and Porsche are all the same company and their cars are built all over the world using materials from all over the world. Major consolidation has occurred in the European auto industry since the 90s in order to remain competitive.

    In addition, their goods went from being handmade by Italian & French craftsmen to having Chinese labor in makeshift Italian sweatshops glue logos onto t-shirts that can be marketed as “Made in Italy”. Like most Western industry, high fashion is a house of cards behind a facade of quality. The \$400 Gucci t-shirts that cost \$2 to produce or the \$20,000 Hermes bag that costs \$20 to produce will be the first victims in an economic crunch and these brands will be sold off for pennies, just like the Lamborghini and Bugatti of yore.

    You are wrong.

    The Chinese nouveau riche are the biggest buyers of European luxury goods precisely because they are made in Europe which produces luxury fashion brands such as Chanel, Prada, Louis Vuitton, Hermes, etc. in Europe. In addition, Germany and Italy are the biggest exporters of luxury sedans and sports cars, respectively, with German brands like BMW and Mercedes-Benz as well as Italian brands like Lamborghini, Maserati, Ferrari, etc. Add to that European technology and industrial companies such as Airbus, Siemens, Altstom, Nokia, Ericsson, ABB, Roche and Novartis in the aerospace, electric power, transportation, telecommunications and pharmaceutical industries, respectively.

    • Replies: @fran
    , @Commentator Mike
  117. Anon[366] • Disclaimer says:
    @Priss Factor

    “Simple” explanations are usually wrong and stupid, like this one. The “evil” Jew is a tiny part of wider WASP and Catholic shenanigans. Or else, the billions of Goy controlled by the millions of Jews are dumb as rocks.

  118. @Mefobills

    So which oil-field, anywhere, has been replenished, to any extent, by abiotic oil from deep in the crust and mantle. ONE example will suffice. It’s delusional wishful thinking, like the Grand Solar Minimum so beloved of anthropogenic climate destabilisation denialists.

  119. @Towey

    Vicious, greedy, life-hating psychopathy doesn’t come much more lurid than this freak. Let’s clear-fell the Amazon, to grow corn, to feed cattle! Too late, freak-the Amazon is already turning to savanna, and you and all your ilk will join the rest of us in extinction within a few decades. Well done-as I always expected, the Evil, greedy, shits won.

  120. @Priss Factor

    It seems you have your History of Chile wrong. The Americans helped depose Salvador Allende in 1973. Now they have allegedly helped depose Imran Khan. So “Khan got Allende-d”.
    Augusto Pinochet was the General who ruled Chile after the coup.

  121. @Larry5G

    You are correct. That person belongs to the “China can’t innovate crowd”. And you are 100 percent correct those endeavors took up China’s human capital at the time. But now China is advanced enough and educated enough it can design hypersonics and a new semiconductor supply chain and EV batteries all at the same time. All nations depending on where they are in their development have to make choices on where to allocate resources. Yes China was always huge but back then was mostly illiterate. We see that with nations today. If South Korea was isolated – we probably wouldn’t have Samsung like we do now. All we have to do is look at the genetically same people in North Korea. Great at developing weapons – but not much else because that consumes their resources and energy. South Korea has more flexibility

  122. @utu

    And how much of it were things they could not import from elsewhere or substitute at home. There is a thing called comparative advantage. When you have normal trade you buy from others what they are “better” at and sell to them what you are “better” at than they are based on limited resources. And when you have trade with a particular nation or group it doesn’t mean you can’t get something elsewhere… it’s called mutually beneficial trade. So because I sell country “x” a lot of “1” doesn’t mean I couldn t get the same good or service from country “y”.

    • Replies: @utu
  123. Anon[338] • Disclaimer says:

    We really need economic anti-goyim laws.

  124. utu says:
    @showmethereal

    If trade between EU and Russia was in optimal equilibrium and if sanctions will put the end to that trade then EU will have to find alternative presumably less optimal trade parters that will account for about 5% of EU’s trade while Russian has to find less optimal partners that will account for 37% of Russia’s trade. So obviously Russia being much smaller economy will be hurt much more by sanctions than EU.

    • Replies: @fran
    , @showmethereal
  125. fran says:
    @antibeast

    None of those high fashion brands actually manufacture their products in Europe anymore. It’s all made in China and shipped to Italy & France for some trivial final assembly (like adding buttons and logos) in order to legally slap a “Made in Italy” tag on them. The percentage of construction that needs to take place in Europe is defined by law and LVMH & Kering push the offshored portion to the very limit. The primary value proposition of these luxury fashion brands today is not quality but the idea of showing off the brand itself and the ostentatious display of wealth/prestige/scarcity associated with it. They all share the same factories and suppliers; the only thing that changes is the branding. If they wanted to own it themselves, a Chinese company can easily acquire the rights to an established luxury brand (or revive one that went defunct in the 80s, which has been a big trend over the recent years), keep the same supply chain, and they wouldn’t miss a beat. Shipping semi-finished inventory to an Italian sweatshop in Bergamo so Chinese workers can slap logos on shirts in order to get the “Made in Italy” isn’t a big hurdle if they were set on abiding by international copyright/trademark standards.

    Cars are a more complicated process, but a company like BMW would be idiotic not to establish factories in China if it came to that. Many would leave Europe entirely if presented with an either/or choice, considering that China’s market size dwarfs Europe’s, not to mention the cost savings.

  126. fran says:
    @utu

    Are you unable to recognize that not all imports are of equal importance? If Russia is unable to import German cars, they’ll buy cars from China. If Germany is unable to import Russian gas, the German manufacturing industry will either leave Germany or die.

  127. Mefobills says:
    @mulga mumblebrain

    So which oil-field, anywhere, has been replenished, to any extent, by abiotic oil from deep in the crust and mantle. ONE example will suffice.

    I would like a scientific inquiry myself.

    I suspect it is abiotic, but I don’t know. There is way too much confusion around this topic.

    If it is abiotic, that is VERY IMPORTANT, and we should not be waving our hands around and dissembling. When people believe in things that are wrong, then a towering edifice is built that can fall over, as the foundation is rotten.

    I found this link with little effort. Granted it is not scientific; I’m with you that I want more proof.

    https://rense.com/general63/refil.htm

    Kennicutt, a faculty member at Texas A&M University, said it is now clear that gas and oil are coming into the known reservoirs very rapidly in terms of geologic time. The inflow of new gas, and some oil, has been detectable in as little as three to 10 years. In the past, it was not suspected that oil fields can refill because it was assumed the oil formed in place, or nearby, rather than far below.

    According to marine geologist Harry Roberts, at Louisiana State University, “petroleum geologists don’t accept it as a general phenomenon because it doesn’t happen in most reservoirs. But in this case, it does seem to be happening. You have a very leaky fault system that does allow it to migrate in. It’s directly connected to an oil and gas generating system at great depth.”

    What the scientists suspect is that very old petroleum — formed tens of millions of years ago — has continued migrating up into reservoirs that oil companies have been exploiting for years. But no one had expected that depleted oil fields might refill themselves.

  128. Mike, thanks for spoon feeding the facts about rentier vs socialist economic systems to those of us who have been slowly but methodically dumb ed down by CNN and Fox Et AL. You do know how to crystalize important ideas into a few paragraphs.

    This NATO/USD/Euro conundrum can be resolved by examining two perfectly legitimate and recognized documents; First, those papers used to establish, recognize and legally incorporate businesses. Secondly, the negotiating documents that bind nation-to-nation in the form of treaty obligations. Pray tell, why hasn’t EU dependency on Russian carbon energy sources been resolved by treaty aka the ECht? wherever is it? signed agreements to never disrupt flow from Russia to Europe (unless there’s a technical hiccup along the delivery route) The strength of this document can be reinforced by binding contracts between the Russian energy producers and EU distributors. The corporate entity, has over the years taken on a life of it’s own, constitutional privileges of person hood for instance and once incorporated support an entire architecture of skills and expertise, it can form transnational strategic partnerships, limited product liability protections and again, creates a bureaucratic structure within it consigned to the art of forecasting, usually with statistical modeling, both the short and long term strategies such as where to place financial investments made by shareholders, board members, employees and affiliated (subsidiary branches) Why have these tools that strengthen cooperation between governments and transnational companies been ignored in this latest crisis?

    Gazprom and (France) Engie CEOs are in the throes of discussing long-term contracts and various cooperative projects. Can their contract legalese, once promulgated be reworded in such a way as to keep those inscrutable Green globalists out of everyone’s hair? Engie may provide the template that the rest of the EU energy users need to go forward to secure Russian gas.

    In five to ten years, Fusion technology will swallow this crisis whole. Sit tight, it’s gonna be alright!

  129. @fran

    The murder of the Italian was also a racially targeted black on White crime. And there’s no evidence that the Italian was out looking to score a bag of weed from some joggers in the park.

  130. @Towey

    “The Brazilian dream is to get a law degree, pass a concurso and become a civil servant.”

    Or, being unable to do that, become a porn star.

  131. @fran

    None of those high fashion brands actually manufacture their products in Europe anymore. It’s all made in China and shipped to Italy & France…

    You seem to be hung up on two specific consumer luxury brands, whose contribution toward overall exports are trivial. Expensive mechanical watches are made entirely in Switzerland or Germany. Specialized industrial automation and food processing equipment comes from Germany, Switzerland, and northern Italy. Aircraft engines are made in Britain. Yachts are built in Germany and the Netherlands. Semiconductor manufacturing equipment comes from the Netherlands. Champagne comes only from the Champagne region in France. Some German automobile manufacturers already operate assembly plants in Asia, but the key components, including stamped metal but especially the engines, are built in Europe. How many people would still want to buy a Porsche or Bentley or Ferrari if it were made in China?

    • Replies: @antibeast
    , @fran
  132. antibeast says:
    @fran

    Methinks you’re confusing American mass-market brands with European luxury brands, the former are made outside of the USA while the latter are made in Europe. I admit that there is a gray market of fake Western luxury goods made in China but your claim that ALL or MOST of LVMH’s goods are not made in Europe is hard to believe considering that Chinese consumers travel all the way to Europe to buy these European brands in order to avoid the mistake of buying fake Western luxury products made in China. Even the fast fashion brand Sara are mostly made in Spain and Europe with the rest made in Asia to cater to Asian consumers.

    • Replies: @fran
  133. @antibeast

    As far as Prada goes 20% of their factories are in PR China a the rest in other cheaper countries like Vietnam, Turkey and Romania.

    Prada Is Making Fashion in China

    https://www.wsj.com/articles/SB10001424052702304231204576403680967866692

    • Replies: @antibeast
  134. antibeast says:
    @Been_there_done_that

    Some German automobile manufacturers already operate assembly plants in Asia, but the key components, including stamped metal but especially the engines, are built in Europe.

    German auto companies do operate manufacturing as opposed to assembly plants in China. That’s what the Chinese authorities demanded as a condition for their market entry into China by requiring all the German and other foreign auto companies to enter into JVs with local Chinese SOE partners and by insisting that the IPRs to their German and other car models produced in China be transferred to the JV entity. In legal terms, the Chinese manufacturers who partnered with the German and other foreign auto companies now had the legal rights to produce the auto parts, components and subsystems to their German and other car models, including the stamped metal parts, chassis, steering wheel, engines, etc. In actual practice, the Chinese manufacturers produced only the bulky parts like the stamped metal parts, chassis, steering wheel but not the engines with few exceptions. BMW, for example, agreed to license one of their older engines to be manufactured in China.

    How many people would still want to buy a Porsche or Bentley or Ferrari if it were made in China?

    The German and other foreign auto companies in China only produce cars locally for the Chinese domestic market, not for the global export markets. Porsche, Bentley and Ferrari are not made in China but are European-made sports cars imported into China.

    • Replies: @showmethereal
  135. @mulga mumblebrain

    The origin could be abiotic but the replenishment orders of magnitude lower than the extraction in recent decades.

    Anyway if you’re so convinced we’re heading to extinction then maybe giving a nuclear winter a try so perhaps a few survive may not be such a bad idea. But I’m not sure if this nuclear winter theory is really that good, perhaps the winter would not last long enough to counter the general trend and maybe the warming due to all the combustion and release of numerous IR absorbing hydrocarbons following a nuclear exchange would counter the cooling effect of the aerosols, and the burning of forests in a nuclear war would eliminate the CO2 sink. Maybe experts believe in this nuclear winter theory and hence want a nuclear war to counter global warming and the runaway greenhouse.

    • Replies: @mulga mumblebrain
  136. @FKA Max

    What percentage is “many”???? The US citizens according to actual statistics are actually poor savers relative to other advanced nations…. US assets are also overloaded on stock equities – which is why there is so much financial chicanery to always keep the stock market propped up.

    • Replies: @FKA Max
  137. @fran

    They are doing it because of US policy to antagonize China and North Korea. South Korea and the Republic of China (Taiwan) are where the vast majority of all the most advanced semiconductors are made. A war in the region would potentially destroy the supply chain. So they are building new fans in Europe and the US – at highly subsidized capital (and in the future operational) expenditures to “secure the supply chain”. They are going the most expensive route just for the ability to be able to antagonize Asia.

  138. @utu

    Who said optimal equilibrium?? Trade relations like diplomacy and defense is more about relationship than equilibrium…. India and Russia are long time friends. But India hardly bought any Russian gas or oil. Now because of this crisis they are getting it for a discount from Russia. You can’t be so simplistic. Same with Australian wine producers selling to China. Much if that has been replaced by other regions – including South America for no other reason than a spat. China is the #2 wine market in the world… not easily replaced unlike the wine Australia produced. Russian energy helped power Europe’s economy at affordable prices. Europe can indeed replace it in a few years… but Europe will surely pay much more

  139. antibeast says:
    @Commentator Mike

    Prada is not doing too well as they’re too much into marketing gimmicks like branding a wet market with ‘Prada’ logos. Maybe they’re trying to cater to their Chinese customers by designing and producing their products in China. But I think they risk diluting their brand authenticity which is very important for Chinese consumers who want to buy Italian brands because they are made in Italy. What’s the point of buying Italian brands if they are made in China? They might as well buy Chinese brands.

    Nike and Adidas have been facing this problem for years now as they lose market share to Chinese brands like ANTA and 361. Ninety percent of Nike shoes are now produced outside of China for global markets with the remaining ten percent produced in China for the Chinese market. But that ten percent is still declining due to stiff competition from Chinese brands made in China.

    Chinese consumers buy German auto brands for two reasons: 1). brand value and 2). luxury quality. So the German auto companies market two classes of their car models in China: 1). locally-made mass-market models and 2). foreign-made premium models. German and Japanese auto brands have done well for one reason: Chinese brands could not compete against both mass-market and premium models of the German and Japanese brands because they rely on price to compete for the low-end of the mass-market. But American brands have not done well either as they have to compete against both German and Japanese brands as foreign brands.

    If Chinese consumers want to buy local, they will buy a Chinese brand. Same principle applies to passenger cars as it does to luxury fashion or sport shoes.

  140. FKA Max says: • Website
    @showmethereal

    “and then move to Europe either buying real [e]state or renting on the cheap there”

    There are now an estimated 22 million American millionaires https://www.cnbc.com/2021/12/22/heres-how-22-million-americans-became-millionaires.html , I would consider that to be “many.”

    The National Study of Millionaires
    Mar 2, 2022

    [MORE]

    https://www.ramseysolutions.com/retirement/the-national-study-of-millionaires-research or https://archive.ph/D8VVX

    The overwhelming majority (79%) of millionaires in the U.S. did not receive any inheritance at all from their parents or other family members. While 1 in 5 millionaires (21%) received some inheritance, only 3% received an inheritance of \$1 million or more. […] Only 31% averaged \$100,000 a year over the course of their career, and one-third never made six figures in any single working year of their career.

    These Millionaire Stats Make People SO ANGRY! – Dave Ramsey Rant
    Sep 21, 2021

    The \$8,000,000 Janitor: A True Story of an Unknown Stock Market Legend

    Financial Independence and the Valley of Disappointment

  141. @antibeast

    Mostly agreed… Except:

    “The German and other foreign auto companies in China only produce cars locally for the Chinese domestic market, not for the global export markets.”

    BMW (and GM though American) have started exporting from China. Tesla (also American) exports a large portion of their output from China.

    • Replies: @antibeast
  142. fran says:
    @antibeast

    You’re not well-informed on the industry or you’re simply misunderstanding what I wrote. Italian luxury brands like Gucci and Prada use Chinese factories to manufacture a product until it’s 75% assembled, ship it to an Italian factory for final assembly (usually simple work like stitching buttons or gluing soles), then slap a “Made in Italy” tag on it and charge \$400 for an “Italian Made” t-shirt that cost \$4 in labor and material because it was mostly made in China (and only partially assembled in Italy by Chinese immigrant workers).

    • Replies: @antibeast
  143. fran says:
    @Been_there_done_that

    Those aren’t two brands but two holding companies that own just about every single luxury fashion brand on the planet. I don’t know much about yachts but that’s a very niche product with a tiny potential customer base consisting of 9-figure+ net-worth individuals who aren’t constrained by geography or politics.
    Swiss luxury watches today are a relic of the past and survive mostly via artificial scarcity and the ghetto rich instagram crowd. There’s not any special technology or material in a Patek or A Lange & Söhne; they just nominally handmade and each takes a while to put together. Something mass-produced like Rolex is entirely marketing. You can literally buy high-quality Chinese fakes that are indistinguishable from the real thing unless you literally open the case and examine the movement under a loupe. I find it funny that you’re bringing up these wholly marketing-driven products like they’re a paragon of western manufacturing when you’re paying a 3000% markup entirely for the perceived exclusivity and marketing costs (Tiger Woods and Roger Federer cost a lot of money as brand ambassadors).

    • Replies: @Been_there_done_that
  144. Athena says:
    @TREG

    https://www.russialist.org/archives/5497-14.php
    #14
    Novaya Gazeta
    No. 75
    October 2001
    THE THIRD FORCE OF WORLD WAR III
    Is China behind all that has been happening?
    Author: Viktor Minin

    [MORE]

    [from WPS Monitoring Agency, http://www.wps.ru/e_index.html%5D

    THE AMERICANS DON’T REALIZE IT YET, BUT CHINA HAS WRITTEN ITS OWN SCRIPT FOR SQUEEZING THE UNITED STATES OFF THE WORLD STAGE. CHINA SUPPORTS ACTIONS OF THE WEST AIMED AT MUTUALLY ASSURED DESTRUCTION OF RUSSIA AND THE MUSLIM WORLD. THE WEST, RUSSIA, ISRAEL, AND THE MUSLIM WORLD MUST WORK TOGETHER.

    THE WESTERN SCRIPT

    Using techniques of manipulating public opinion, the West is trying to establish the illusion of a global forces with the fascist- like ideology of Wahhabi fundamentalism. As far as the West is concerned, Wahhabi and Islam are the same thing. It is because of this that the essential terrorism of Wahhabi ideas is being formulated so simply for public consumption: all Muslims are terrorists by nature.

    The preliminary objective of brainwashing (Islam is the basis of terrorism) is thus achieved. Therefore, the terrorist world of Islam should be maneuvered into fighting Russia. Russia and the Muslim world will destroy each other, and the West will gain access to the natural resources on their territories. The dollar pyramid will straighten once again, and the economic crisis will be over. Life goes on.

    Apart from the need to shock the international community with atrocities of Islamic terrorists, this script requires the presence of some country fundamental for this particular global force. It should answer the following requirements: a large Muslim population, government based on military dictatorship (which allows prompt replacement of the leader); borders with Russia, China, and India; nuclear arsenals; and a well-trained army with combat experience. Pakistan is an ideal fit, and Afghanistan is just a capsule.

    Continuation of the script after the terrorist attacks in the United States: retaliatory strikes at Afghanistan, Iran, Iraq, and so on, depending on the situation. A dramatic rise in anti-American sentiments throughout the Muslim world as a result. A coup in Pakistan, leading to the rise of a radical Wahhabi leader there. Unification of Afghanistan and Pakistan.

    A Taliban invasion of Uzbekistan, Tajikistan, and Kyrgyzstan will follow. Conflicts with Iran and Iraq will follow. The second phase of preferable armed conflicts is as follows: Iran and Turkey, Armenia and Azerbaijan, Turkey and Greece, Georgia and Abkhazia, China and Taiwan, North Korea and South Korea, Israel and Palestine, and escalation of the situation in Chechnya. Russia will inevitably find itself dragged into some war or other, and declare general mobilization. Tatarstan, Bashkortostan, and some other ethnic republics will refuse to go to war under those circumstances. The rest of the population of Russia will also object. All this may result in a drastic destabilization in Russia, and a loss of control. Things may even reach extremes, ending in a military coup or disintegration of the Russian Federation.

    However, some details indicate that this particular script has bogged down. The world is different now. In the past, it was sufficient to torch the Reichstag or assassinate a prince; but now, even the horrors of September 11 no longer suffice.

    That is why some sort of “fuel” is needed to give the script momentum – terrorist attacks on the scale of September 11, but not in America alone. Over there, in Europe, and in Russia as well. Anthrax is just a prelude. Controllable terrorism, however, has its own limits. Russia knows, for example, that “Chechen terrorists” will no longer suffice. After all, linking them to Islam is fairly difficult.

    But even that is not the key point. Certain indirect aspects indicate that the script considered here is not the only one. Most probably, it is not even the whole script, just part of an even larger one. In accordance with the latter, Russia and the Muslim world fighting each other are not the only objectives. The West and Israel are too. It follows that some unknown Contractor and Player must be present somewhere. This script becomes possible when we assume that some Western elites and secret services made a kind of covert pact with this still-unknown Player.

    All this is only made easier by the fact that the United States is internally not prepared to carry out the task; its elites are split, and the gap first shown in the Bush-Gore election is only widening. The dollar may fail to withstand the new war, and could actually begin falling soon. This would rekindle and legitimize long- standing racial tensions. The ideology of liberalism and democracy as the most effective system is dead. It is time this fact was recognized.

    And what might this new, unknown third force be like? It should be invisible and still in politics, like an old crocodile hunting, pretending to be a log in the water. The Americans don’t realize it yet – but it isn’t all that hard to understand that the third force is China.

    THE CHINESE SCRIPT

    A few words about China as a super-power. Population in excess of 1.2 billion, economy larger than that of the United States, a professional army numbering almost 4 million men, gold and hard currency reserves enough to repel any American attack and virtually turn all of Southeast Asia into its own currency zone. An ample volume of dollars is a defense and a financial weapon to be used against the dollar itself. Throw a great deal of dollars into the market all at once, and the dollar will crash. A conflict with Taiwan may follow. It will be a conflict waged with American money, with American weapons, investment, and high technology. Add the nuclear factor here. Suffice it to recall the recent scandal when Chinese intelligence obtained all major nuclear secrets of the United States. Birth rates in China are no longer being kept down; defense spending has been increased. China is buying up armaments and military hardware.

    China has thoroughly studied the Western technique of getting out of crises via controllable armed conflicts and wars. It has written its own script for squeezing the United States off the world stage. The Western script becomes an episode in a larger game.

    Contents of the script:

    – while remaining inactive and all but invisible, China retains and replenishes its resources;

    – China supports actions of the West aimed at mutually assured destruction of Russia and the Muslim world;

    – China supports bilateral conflicts in line with the Western script;

    – China becomes ideologically active and active in the military sense when the moment is ripe;

    – when the conflicts are over, China moves into the new territories…

    The global conclusion is simple. This is the first time strategic interests of the West, Russia, Israel, and the Muslim world coincide. We can only survive together.

    Under the unfolding script, all of us are victims. China has already won, strategically and tactically.

    The test is plain – we will sink or swim together. The new global Chinese order will follow the rules the Americans drew up for themselves. What counts is that the “golden billion” of the world’s population alone will prosper; the remaining 4 billion are expendable. Unlike the United States, to say nothing of the Russians or Jews, China has this billion already. All of us are expendable in this wicked colonial system of distribution of resources.

    Proposals:

    1. All efforts, including from the elite of international finance, should be made to stop the war.

    2. Russia should become the real leader of the new process. (It has already become it but not yet aware of the fact.) The West and Israel need a strategic alliance with the Muslim world more than anything else, and this alliance is possible only through Russia. Only Russia in an alliance with the Muslim world can keep China in check without conflicts, helping it find its new place in the world as another super-power.

    3. Leaders of Russia, America, Israel, Europe, Iran, India, and international financial capitals must initiate a dialogue over leaving this crisis behind and preventing events like those which swept America on September 11.

    A time of change is upon us, and it’s futile to wish we were living in some other era. We have to change ourselves and change the world…

    (Translated by A. Ignatkin)

    • Troll: antibeast
  145. antibeast says:
    @fran

    You’re not well-informed on the industry or you’re simply misunderstanding what I wrote. Italian luxury brands like Gucci and Prada use Chinese factories to manufacture a product until it’s 75% assembled, ship it to an Italian factory for final assembly (usually simple work like stitching buttons or gluing soles), then slap a “Made in Italy” tag on it and charge \$400 for an “Italian Made” t-shirt that cost \$4 in labor and material because it was mostly made in China (and only partially assembled in Italy by Chinese immigrant workers).

    What you’re claiming is that the European textile, garment, leather, jewelry, watch and other luxury goods industries no longer exist except as assembly lines with Chinese immigrant-workers churning out mostly Chinese-made luxury brands in Europe.

    But that rumor has long been denied by most European luxury brands. There are a few European luxury brands like Prada, D&C, etc. that have ‘outsourced’ their production to China but they are not doing too well in China. That’s because Chinese consumers who want to buy European luxury brands do so only if they are made in Europe, out of materials that are also made in Europe. There are strict laws on the books both in China and Europe regarding labeling the national origin of a product manufacture, including its material. And China is now very strict in enforcing its laws concerning ‘counterfeiters’ because it wants to promote its own indigenous luxury and mass-market brands.

    Methinks you’re claiming something that is obviously false. Europe still retains a substantial number of factories for its textile, garment, leather, jewelry, watch and other luxury goods industries. There are Chinese immigrant-workers who mostly reside in Milan and Prata but they number only a few hundred thousand at most while there are millions of Europeans (or other non-European immigrants) who still work in European factories spinning yarns and textiles, tanning leather, stitching garments, hand-crafting shoes, etc.

    • Replies: @fran
  146. antibeast says:
    @showmethereal

    BMW (and GM though American) have started exporting from China. Tesla (also American) exports a large portion of their output from China.

    BMW bought out their Chinese partner and now own 75% share of their JV. And, yes, BMW exports its cars out of its Shenyang factories in China. They also produce internal combustion engines and electric drive-trains in China.

    https://www.press.bmwgroup.com/global/article/detail/T0367992EN/bmw-group-strengthens-partnership-in-china:-extension-of-joint-venture-contract-until-2040-enters-into-force?language=en

    But BMW is the exception and so is Tesla which is 100% owned by the parent company. GM is losing market share to German and Japanese auto brands. That’s probably why they’ve began to export back to the US market, in small numbers. But other than those few cases, most of the foreign auto brands made in China are not exported out of China, as per their JV contracts. Their JV factories in China don’t just assemble cars but also manufacture auto parts, components and subsystems in China, under license from the parent company.

    On the other hand, Japanese and American automakers use Thailand in Asia and Mexico in North America as their auto manufacturing export base. German automakers use the EU in Europe and Mexico in North America as their auto manufacturing export base. The rest of their factories all over the world (except China) are just auto assembly plants.

  147. @fran

    None of those high fashion brands actually manufacture their products in Europe anymore. It’s all made in China and shipped to Italy & France for some trivial final assembly (like adding buttons and logos) in order to legally slap a “Made in Italy” tag on them.

    This is only true for the “lower tier” products and depending on the item they don’t even bother shipping it back to Europe for finishing. The “tier 1” product lines (i.e signature/black label) are still made in Italy. The “tier 2” product lines are made in Slovakia, Romania, Portugal etc…

    • Agree: antibeast
  148. @fran

    …indistinguishable from the real thing unless you literally open the case and examine the movement under a loupe. I find it funny that you’re bringing up these wholly marketing-driven products…

    Customized automation machinery, which I also mentioned, are not market-driven consumer products, nor are jet engines. Regarding mechanical watch movements, both those from Omega and Rolex are made in Biel / Bienne, and their inherent precision quality makes a difference. I understand that some people, especially social climbers, buy these brands to show off, so only the exterior is relevant to them, whereas more sophisticated purchasers appreciate the quality within. Even the basic plastic Swatch watches have very precise quartz movements and are not made outside Switzerland.

  149. fran says:
    @antibeast

    It’s the truth and similar trends have been underway for the past 20+ years. There are still some products that are manufactured entirely in France or Italy from locally-sourced materials, but these are generally limited to seasonal collections, couture & small production runs, and the highest end brands like Hermes. All the permanent collections from more mainstream luxury brands like Gucci, D&G, Prada, etc make use of the China to Italy for final construction trick. This mainly applies to production runs that are large enough to realize economies of scale, so if an item is only offered for one season, it’s probably all made in one location unless it’s something that uses a templated design like a solid colored t-shirt.

    Do some searching if you want to learn more about this. There are indeed laws on the minimum % requirement to be produced in the claimed country of manufacture, though I believe it varies by country and type of item. Some of this stuff is hidden behind industry paywall sites, though I haven’t checked this info in years.

    • Replies: @antibeast
  150. @Petermx

    THAT would be utterly ‘antisemitic’ I fear. The USA is a colony itself, after all.

    • Agree: Petermx
  151. @FKA Max

    Inequality has never been greater in the USA. Tens of millions work more than one job yet live from pay-check to pay-check. Most US families cannot raise \$400 in an emergency. Housing is increasingly unaffordable. Tens of thousands live on the streets in vast, expanding, camps amid urine and faeces. 100,000 dies of drug overdoses last year. Tens of millions cannot afford healthcare or are bankrupted by health costs. Yet this creepture is happy that 22 million are ‘millionaires’ ie have made a shit-load of unearned income, by means larcenous or parasitical.

    • Replies: @FKA Max
  152. @Commentator Mike

    No sane ‘expert’ wants a nuclear winter. A thermo-nuclear war would set cities aflame, burning all type of materials including plastics, producing huge amounts of toxic smoke and ‘black carbon’. Oil refineries would go up, atomic power stations melt down, huge weapons caches be incinerated, chemical plants and chemical stores be combusted or released.
    It’s not a pleasant series of conjectures to balance. But, for certain, we have proceeded too far down the path to self-annihilation through ecological collapse for it to be reversed in less than centuries, with the loss of billions of human lives, if we avert thermo-nuclear war, which seems inevitable to me. That humanity seems incapable of accepting that truth is both mystifying, and understandable, as too heavy a psychic burden, at once.

    • Replies: @Kali
  153. antibeast says:
    @fran

    Do some searching if you want to learn more about this. There are indeed laws on the minimum % requirement to be produced in the claimed country of manufacture, though I believe it varies by country and type of item.

    Well, I did some research and here’s what I found:

    https://apparelresources.com/business-news/retail/made-italy-rules-fashion-world-efforts-bring-back-apparel-production-continue/

    In 2009, the Italian law stated that only products totally made in Italy (planning, manufacturing and packaging) are allowed to use the labels Made in Italy, 100% Made in Italy, 100% Italia, tutto italiano in every language, with or without the flag of Italy.

    While economic reasons like fast rising labour costs and constraints of reaching the final destination are being cited as major factors driving apparel production back to Italy, the country states the marketing gains of ‘Made in Italy’ also as an important factor for apparel manufacturing to return home. Back in 2010, Uni-CLUB MoRe research centre was set up with the intent of bringing back full or part of production back to Italy. The centre worked in close co-ordination with experts of several Italian universities like Bologna, Udine and Catania, amongst others.

    Notably, China accounts for 28 Italian comeback firms (35 per cent). This is followed by 22 Italian returning companies from Russia/Eastern Europe and 12 from Far-Eastern countries (27 per cent together). Besides, there’s some 13 per cent from Western Europe as well, in addition to some from America. What’s, however, notable is that nearly half – 46 per cent to be precise – of these Italian returning firms make apparels and footwear, while electronics is at distant second with 15 per cent. It is imperative to mention here that over 600,000 people are employed in Italy’s apparel manufacturing industry.

    Talking of numbers, Italy’s total apparel import (knitted and woven) jumped from € 14,243 million in 2018 to € 14,851.01 million in 2019. As far as export numbers are concerned, it’s been a surge from € 19,829.54 million in 2018 to € 21,234.63 million in 2019.

    The US, Japan, Hong Kong, China, Russia and Turkey are some of the largest exporting destinations for Italian apparel products. Apparels make up nearly 4 per cent of the total annual exports from the country. Womenswear is the largest segment in the apparel industry and is growing by 2.3 per cent year-on-year. In comparison, menswear has been increasing at 0.9 per cent.

    Today, Italy stands on the world stage with nearly 14,000 textile firms and € 48 billion of combined production value in textile and apparel segments. Besides, there are little over 50,000 apparel firms in Italy. Italy’s apparel market was estimated to touch US \$ 42 billion by the end of this year, though it now needs to be seen where the final figures will stand.

    The above quote debunks your claim below:

    There are still some products that are manufactured entirely in France or Italy from locally-sourced materials, but these are generally limited to seasonal collections, couture & small production runs, and the highest end brands like Hermes. All the permanent collections from more mainstream luxury brands like Gucci, D&G, Prada, etc make use of the China to Italy for final construction trick. This mainly applies to production runs that are large enough to realize economies of scale, so if an item is only offered for one season, it’s probably all made in one location unless it’s something that uses a templated design like a solid colored t-shirt.

    Next, I did a search on Chinese workers in Italy and here’s what I found:

    https://ww.fashionnetwork.com/news/made-in-italy-by-chinese-workers,377237.html

    Prato, the historical capital of Italy’s textile business, has attracted the largest concentration of Chinese-run industry in Europe within less than 20 years.

    As many as 50,000 Chinese live and work in the area, making clothes bearing the prized “Made in Italy” label which sets them apart from garments produced in China itself, even at the lower end of the fashion business.

    Most of Prato’s Chinese come from Wenzhou, a coastal city in Zhejiang province. They started flocking to Prato in the mid-1990s to work in Italian-owned textile factories and quickly mastered the entire production chain.

    Andrea Cavicchi, local head of the Confindustria business lobby, says China’s entry in the World Trade Organisation in 2001 sounded the death knell for many of Prato’s local clothing artisans as trade barriers imposed by the European Union to protect its manufacturers were gradually phased out.

    As local companies specialized in high-quality fabric began cutting jobs to compete with cheaper foreign imports, Chinese entrepreneurs started renting abandoned Italian warehouses to set up their own factories. Gradually, the Chinese of Prato offered the speed, efficiency and high productivity that many Italian businesses had lacked.

    Now they export millions of low-cost garments – a woman’s cotton shirt sells for under 2 euros, a coat for 12 – across the continent. The Prato branch of Confindustria estimates this business is worth 2 billion euros a year, or half the turnover of Italian-run textile manufacturers in the district.

    “Between 2001 and 2011, the Italian textile industry in Prato has seen its turnover and its workforce halve. But the reality is we can’t really blame the Chinese. The problem is our labor and energy costs mean we can’t compete,” says Cavicchi. “Speed is crucial. In just three days they can churn out thousands of garments. And the final result – even though it’s cheap cloth imported from China – is perfect.”

    Trucks ferry the clothing to shoppers in the major European markets within a day or two. In the fast-changing fashion business, this gives the Prato workshops a competitive edge over rivals in China, which take 40 days to ship their output by sea to Europe.

    There you have it. The news of the demise of the Italian fashion industry is greatly exaggerated. There may have been an influx of Chinese immigrants into Italy over the past several decades working in sweatshop factories churning out ‘grey market’ goods but that has declined since the passage of a law banning the illegal labeling of Made-in-Italy garments in 2009. Similar trends have been observed in the Italian garment industry which has seen the return of clothing factories from China to Italy.

    One last thing I want to point out is that Chinese labor costs have gone up by 5-10x in the past two decades. That has pushed most of the so-called ‘outsourcing’ business out of China. A good example is Nike which has 90% of its shoe production outside China with only 10% remaining in China. What’s the reason for this trend? Rising costs and local competition. Chinese brands are now competing and succeeding in the Chinese market. The Italian brand Prada makes their products in China but they’re not succeeding against Chinese brands made in China. Why should Chinese consumers buy an Italian brand made in China when they can buy a Chinese brand made in China? To Chinese consumers, the only reason why they buy Italian brands is because they are made in Italy.

    • Thanks: dogbumbreath
  154. Kali says:
    @mulga mumblebrain

    Mulga, your description of devistation induced by nuclear war reminded me of a very powerful lesson I learned a few years ago.

    In 2017, when huge wild fires swept through Portugal they actually devastated the entire mountain range I live on. It was terrifying and very traumatic. I was a basket case for weeks afterwards!

    But when the smoking piles of ash finalny cooled and my fear subsided, I was able to see a bigger picture: The fire had cleared acres of previously overgrown land and revealed dozens of stunningly beautiful terraces, just waiting to be tended and farmed.

    We actually live now on a part of the mountain I’d never seen until the fire came and my gardens are the best I’ve ever grown.

    The very first sign that came to me that nature is irrepressable, was the day, about a week after everything had cooled down, when I walked to the top of the mountain, astonished by the devistation. Nothing but black and ash where forrests had grown.

    Near the top, right in front of me, in the centre of the blackened track, a small purple crocus showed itself.

    Never fear, my friend. God is indestructable.

    With love,
    Kali.

    • Replies: @DevilAdvocate
  155. Lets call it what it is,

    “Populism” = middle class objection against the looting by the oligarchy (and their politician puppets)

  156. FKA Max says: • Website
    @mulga mumblebrain

    The reports of American decline are greatly exaggerated
    America is wealthy, influential, powerful, and increasingly equal. Don’t let anyone tell you otherwise.
    April 12, 2022

    [MORE]

    https://theweek.com/foreign-policy/1012419/the-reports-of-american-decline-are-greatly-exaggerated

    America doesn’t only have the most millionaires of any country by far, it also has one of the highest densities of millionaires (8.8% of the adult population), which is an indication that it’s a pretty awesome country to live in, that the “American Dream” of equality of opportunity is still alive, and that the wealth is distributed fairly evenly here, as much as that is humanly and naturally possible taking into account the the 80/20 “Pareto Principle” https://en.wikipedia.org/wiki/Pareto_principle , when compared to other nations. The only two other countries at the moment, that have a higher density of millionaires are Australia and Switzerland (9.4% and 14.9% of the adult population, respectively), and those are pretty nice and safe places to live in as well.

    Russia’s and China’s density of millionaires, for example, is 0.2% and 0.5% of the adult population, respectively: https://en.wikipedia.org/wiki/List_of_countries_by_number_of_millionaires

    Capitalism is the superior political and economic system in terms of distributing wealth as productively, equally and evenly as possible, it is just that many folks even in wealthy nations are not sufficiently financially literate/educated yet, unfortunately, to take advantage of these opportunities:

    Source: https://howmuch.net/articles/financial-literacy-around-the-world or http://web.archive.org/web/20220114052423/https://howmuch.net/articles/financial-literacy-around-the-world

    In case you want to understand why Capitalism, as practiced in the West and especially as can be currently found in the U.S. and other historically Protestant nations, has created such a high density of net worth millionaires with a middle or even working class background, I recommend to watch the following video:

    Make the Stock Market Work For You [Enough is Enough]

    • Replies: @FKA Max
    , @showmethereal
  157. FKA Max says: • Website
    @FKA Max

    “as much as that is humanly and naturally possible taking into account the [] 80/20 “Pareto Principle””

    Addendum:

    I’m personally not a big fan of Jordan Peterson, but his take here, on this specific topic, is accurate, IMHO; on The Great Leveler: Violence and the History of Inequality from the Stone Age to the Twenty-First Century by Walter Scheidel https://press.princeton.edu/books/paperback/9780691183251/the-great-leveler

    Jordan Peterson | Pareto Distributions & Wealth Inequality

    Also, since the U.S. is such a big country, wealth inequality varies by state, so the states with the highest wealth inequality (tent cities https://en.wikipedia.org/wiki/List_of_tent_cities_in_the_United_States etc.) also have the highest instability/violence potential like New York, Florida, California, etc., for example, but this then cannot be extrapolated to the rest of the country and places like the Midwest, for example, where wealth inequality is not as pronounced:
    This map shows how bad income inequality is in your state
    https://www.businessinsider.com/map-of-inequality-for-us-states-2016-7 or http://web.archive.org/web/20220313010140/https://www.businessinsider.com/map-of-inequality-for-us-states-2016-7

  158. @FKA Max

    “density” is an interesting way for statisticians to twist something the way they want….

    Also – tying wealth too much to the stock market is imbalanced. Per capita US savings are much lower than most of the OECD and much much lower than East Asia.

    • Replies: @FKA Max
  159. FKA Max says: • Website
    @showmethereal

    “density” is an interesting way for statisticians to twist something the way they want….

    Yes, the Chinese are supremely guilty of doing that, especially with their IQ statistics/scores, that were in the past mostly sourced from metropolitan areas like Shanghai, etc., for example:

    Are Chinese Students Smarter than American Ones? | China Uncensored
    Dec 9, 2013

    [MORE]

    Also – tying wealth too much to the stock market is imbalanced. Per capita US savings are much lower than most of the OECD and much much lower than East Asia.

    Did you watch the video I linked at the bottom of that comment? In which he explained that a/the stock market is a way for ordinary citizens/workers to own a part of the means of production and thus participate in the profits hopefully generated by the companies they are invested in, without the state having to redistribute wealth violently and/or inefficiently/unproductively.

    Broad-based, diversified, low-cost, passive-investing stock market index funds, as advocated by the late John Bogle https://en.wikipedia.org/wiki/John_C._Bogle are the safest way to do that for the average person. Even though there are some concerns in terms of price discovery, when too much of a/the stock market is based on passive investment flows, since markets then become less efficient, etc.: https://www.ft.com/content/87a3b117-7085-40f4-8cca-66bb8353c971

    Millionaire households are pretty evenly/equally distributed throughout the U.S., when factoring in/adjusting for the the cost of living, which is a result, in my opinion, of the high stock market investing participation rates among Americans when compared to most other countries. Of course, during stock market crashes those households’ net worth falls, but over time the compounding effect makes those folks/families wealthier and keeps up with inflation, if dividends are reinvested especially during crashes, etc., and not spend frivolously:

    Source: https://accidentalfire.com/2019/09/20/millionaires-america-richest-person-each-state/ or https://archive.ph/RjO5l

    The states with the lowest wealth inequality are also the poorest states in the country, which suggests one of two things. Either a rising tide lifts all boats, meaning the wages of the extremely well-paid inflates what everyone else makes too. Or states like West Virginia, where the average annual income for 99% of the population is a paltry \$34,987, have economies that depress the wages of the top 1% too. Regardless of how we think about the correlation, moving across state lines to earn a higher wage seems like a plausible answer, even if fewer Americans are willing to move for jobs.

    Let’s add one more layer of complexity. Our visual says nothing about the cost of living. For example, the bottom 99% of workers in Ohio make \$46,157, but our recent analysis of housing prices indicates that’s plenty to afford a median-priced home in all of Ohio’s large cities. Wealth inequality is still no doubt a top concern for policymakers, but the real statistics aren’t exactly terrible for the average Joe in every circumstance.

    https://howmuch.net/articles/income-inequality-by-state or https://archive.ph/dnPNJ

  160. FKA Max says: • Website
    @FKA Max

    Did you watch the video I linked at the bottom of that comment? In which he explained that a/the stock market is a way for ordinary citizens/workers to own a part of the means of production and thus participate in the profits hopefully generated by the companies they are invested in, without the state having to redistribute wealth violently and/or inefficiently/unproductively.

    Just to avoid/prevent any confusion, this is the video (see screenshot) I was referring to, in which Clark compares three economic systems: namely, Feudalism (king/warlord) vs. Marxism (government) vs. Capitalism (many investors (like you)), and who controls the means of production in each economic system:

    [MORE]

    In the following video below Jordan Peterson claims that “the problem [is] no one actually knows how to effectively shovel resources from the minority that controls almost everything to the majority that has almost nothing in any consistent way because as you shovel money down it tends to move right back up, and it’s a big problem.” I believe a free and transparent stock market is the best mechanism to solve this problem, for the reasons outlined upthread, however more people need to be financially educated in order to be able to benefit from this stock market wealth (re)distribution mechanism:

    Jordan Peterson – Pareto Distributions
    Psychology Professor Jordan B. Peterson explains Pareto distributions in context of the collectivization of farms under Lenin and the resulting starvation in Soviet Ukraine.

    Studies have also shown (see below) that in stock market-centric, capitalistic economic systems there is a lot of churn among the richest families and individuals in relatively short periods/amounts of time, so power can never be concentrated and consolidated in the hands of just a few individuals and families for too long, which usually helps to deal with wealth inequalities more effectively than in feudalistic and communistic economic systems, which are usually controlled over many generations by only a few elite bloodlines:

    Growing Family Wealth from Generation to Generation
    https://cfeg.com/insights_research/growing-family-wealth-from-generation-to-generation/ or https://archive.ph/z5vhd

    Initially, the Forbes List had 320 families on the list from 1982 to 1989. Out of that 320 families, about 30% of the families survived on the list until 2011, as seen in Figure B. The majority of the families who have survived on the list achieved an average growth rate of their wealth above the 6% average long run growth rate of large US public equities. If the family has a diversified liquid portfolio of financial assets, it could achieve this average. In order to achieve a long-term growth rate above this, the business family needs to find more attractive investment opportunities that tend to be higher risk.

    • Troll: mulga mumblebrain
    • Replies: @mulga mumblebrain
  161. antibeast says:
    @FKA Max

    Did you watch the video I linked at the bottom of that comment? In which he explained that a/the stock market is a way for ordinary citizens/workers to own a part of the means of production and thus participate in the profits hopefully generated by the companies they are invested in, without the state having to redistribute wealth violently and/or inefficiently/unproductively.

    I think your conclusion is wrong — that the USA has the most equitable distribution of national wealth— because it is based on a false premise — that the stock market is the best way to have generate or preserve wealth.

    To rebut your arguments, I can cite Germany which has one of the most prosperous and egalitarian societies in the world:

    https://www.bundesbank.de/resource/blob/666592/617bc1f54bb0181bc4857044b382e913/mL/2014-09-equity-market-data.pdf

    Of the roughly 3.7 million enterprises in Germany in 2012, just over 11,000 were public limited companies (Aktiengesellschaften or Kommanditgesellschaften auf Aktien). These public limited companies account for roughly 18% of aggregate revenues and employ just under 9% of employees subject to social security contributions. Just a fraction of Germany’s public limited companies are listed on a stock exchange. At the end of July 2014, shares of 711 enterprises were trading at the major trading venues of Deutsche Börse AG, and they had a market capitalisation of around €1,200 billion. In market capitalisation terms, this makes the German stock market the seventh largest worldwide and number three in Europe after the United Kingdom and France. However, Germany’s equity market capitalisation to gross domestic product (GDP) ratio is relatively meagre by international standards, at a long-run average of 40%, which is less than the figure for the euro-area countries (50%) and well below that of the Anglo-Saxon markets (United States: 111%; United Kingdom: 135%).

    In other words, German public limited companies generate only 18% of all revenues and employ just 9% of all employees in Germany. Of these 11,000 German public limited companies, only 711 are listed on the stock exchange (as of July 2014). But the vast majority of the 3.7 million German enterprises which generate 82% of all revenues and employ 91% of all employees are not public limited companies at all, implying personal or family ownership.

    The domestic share of German public limited companies’ market capitalisation at the end of May 2014 amounted to 42.9%. At last count, domestic institutional investors as a whole held just under a third of all German equities (29.4%), with 18.3 percentage points being attributable to non-financial investors and 11.1 percentage points to financial investors. Non-financial investors include all enterprises which predominantly produce goods and non-financial services as well as holding companies which hold stakes in other non-financial corporations. Domestic mutual funds held 6.3% at last count, making them the most important group of owners in Germany’s financial sector, followed by domestic banks (2.7%) and other financial institutions (1.3%). Insurers – which, for the purposes of this classification, also include pension funds – held a relatively small fraction of German equities as this report went to press (0.9%). Households, meanwhile, held an 11.8% share at the end of May 2014.

    Of the 711 German publicly-listed public-limited companies, German residents own only 42.9% of their shares, with households owning only 11.8% and mutual funds owning 6.3%. That gives a total of 18.1% for individual investors while the rest are owned by institutional investors.

    What this means is that much of the household wealth in Germany are not invested in publicly-listed equities but are invested in personal or family-owned enterprises and privately-held public limited companies. Indeed, Germany’s stock market capitalization is only 40% of its GDP which is the largest in Europe and the fourth largest in the world.

    • Thanks: showmethereal
    • Replies: @FKA Max
  162. @Kali

    Kali, you are talking about natural fires. They can be quite terrifying but they have occured since ever there is plant material on Earth.
    Nuclear fires would be quite another matter…

    Never fear, my friend. God is indestructable.

    God is indestructible. But I fear Earth (and all life within) is very destructible.

    • Replies: @mulga mumblebrain
    , @Kali
  163. FKA Max says: • Website
    @antibeast

    I think your conclusion is wrong — that the USA has the most equitable distribution of national wealth— because it is based on a false premise — that the stock market is the best way to have generate or preserve wealth.

    To rebut your arguments, I can cite Germany which has one of the most prosperous and egalitarian societies in the world.

    You actually made my point for me in impressive German “Besserwisser” detail and fashion:

    What this means is that much of the household wealth in Germany are not invested in publicly-listed equities but are invested in personal or family-owned enterprises and privately-held public limited companies.

    Which precisely means that many “ordinary citizens/workers” don’t “own a part of the means of production”, because these companies are not publicly-listed.

    I’m aware of the German “Mittelstand” business model and organization of the German economy: https://en.wikipedia.org/wiki/Mittelstand but it actually supports my argument, because most of Germany’s wealth is concentrated in the hands of those “Mittelstand” families, which is a quasi-feudalistic economic system, and most of the wealth redistribution and “egalitarianism” in Germany is achieved by way of inefficient/unproductive taxation, which is not utilitarian:

    Social inequality in Germany is on the rise

    12.05.2021
    https://www.dw.com/en/social-inequality-in-germany-is-on-the-rise/a-57509743 or https://archive.ph/ywjQH

    Rock, of the Paritätische Wohlfahrtsverband, has long noted that incomes in Germany develop very differently: “While people with low incomes often suffered real income losses, higher incomes grew much more strongly. Wealth is distributed very unevenly: The richest half of the population has 99.5% of the assets.” Around 3.8% of the population has very high net wealth, which means they own more than half a million euros, usually in real estate, financial investments, or business assets.


    Ron Swanson Loves Capitalism and Libertarianism | Parks and Recreation

    • Replies: @antibeast
  164. @DevilAdvocate

    They are ‘natural’ but exacerbated by anthropogenic climate destabilisation. That is by longer and deeper droughts, often coming on more quickly than before in human history, increased growth of weedy plants brought on by drenching deluges AND increased atmospheric CO2, vast swathes of dead trees killed by climate change and pest spread, stronger winds, higher temperatures etc. That fires have occurred since plants evolved is totally IRRELEVANT. It is what fires HUMAN beings have faced during our rise that is important, and we have NOT faced such an abrupt and rapid changed of global climate in our history. Is that TOO hard to comprehend?

    • Replies: @Kali
    , @DevilAdvocate
  165. @FKA Max

    What an utterly moronic statement, probably a lie. The USA is the MOST unequal rich country in the OECD, with inequality worsening. Any description of wealth distribution in the USA shows an inexorable transfer of wealth from the many to the very few. What psychic rewards do you freaks get from such OUTLANDISH falsehoods? That you probably are a brainwashed imbecile can be seen from your using Peterson, the stupid person’s idea of a clever person, as ‘evidence’.

    • Replies: @FKA Max
  166. FKA Max says: • Website
    @mulga mumblebrain

    The USA is the MOST unequal rich country in the OECD, with inequality worsening.

    You are definitely not a “race realist”, that’s for sure…

    The nation is diversifying even faster than predicted, according to new census data
    July 1, 2020
    https://www.brookings.edu/research/new-census-data-shows-the-nation-is-diversifying-even-faster-than-predicted/

    More than half of U.S. households have some investment in the stock market
    March 25, 2020
    https://www.pewresearch.org/fact-tank/2020/03/25/more-than-half-of-u-s-households-have-some-investment-in-the-stock-market/

    Families headed by white adults are more likely than those headed by black or Hispanic adults to be invested in the stock market.

    • Troll: mulga mumblebrain
    • Replies: @mulga mumblebrain
  167. @FKA Max

    Only a vicious, racist, cretin would quote ‘China Uncensored’. Just look at the facts, racist. China has created the greatest economic and social welfare leap in history, while the USA, full of deranged imbeciles like YOU, is sinking into the shit, where it belongs.

  168. @FKA Max

    Ninety percent (90%) of US stocks are owned by the wealthiest 10%. You are so used to gibbering with fellow hard Right psychopaths that you forget that some people deal in FACTS.

    • Replies: @FKA Max
  169. FKA Max says: • Website
    @mulga mumblebrain

    Your agitated, triggered replies to my comments increasingly fall under the category of “Personal attacks and gratuitous insults are not acceptable and this author will ban such commenters.” But I guess I deserve it, and the rules don’t apply to you…

    [MORE]

    This simple pyramid shows by way of a metaphor that the least convincing arguments are the most common and take the least effort to make.

    Source: https://en.wikipedia.org/wiki/Paul_Graham_(programmer)

    Ninety percent (90%) of US stocks are owned by the wealthiest 10%.

    Again, as Jordan Peterson pointed out…

    Pareto principle: https://en.wikipedia.org/wiki/Pareto_principle
    “An important property of Pareto distributions is that they have a fat tail. In the real world, this means that the wealthiest 1% of population possesses a substantially larger portion of the national income and wealth than would be predicted by extrapolating the distribution of middle income earners. Accordingly, greater understanding of the overall concentration of income and wealth requires increased attention be paid to why the distributions of top earners universally follow the Pareto distribution.”

    Jordan Peterson Analyses Toy Story

    You are so used to gibbering with fellow hard Right psychopaths that you forget that some people deal in FACTS.

    Swanson Pyramid of Greatness

    Source: https://www.amazon.com/Wizbit-Art-Design-Swanson-Greatness/dp/B01N6RMJPI or https://archive.ph/AACYl

  170. antibeast says:
    @FKA Max

    Which precisely means that many “ordinary citizens/workers” don’t “own a part of the means of production”, because these companies are not publicly-listed.

    Methinks you have too much faith in the US stock markets which are rigged to favor the ‘big boys’ on Wall Street. In fact, most of the household wealth in America is invested in personal properties and family businesses. A much higher percentage of the US GDP is generated by publicly-listed US corporations, unlike Germany, which implies a greater not lesser concentration of wealth in the USA than Germany.

    I’m aware of the German “Mittelstand” business model and organization of the German economy: https://en.wikipedia.org/wiki/Mittelstand but it actually supports my argument, because most of Germany’s wealth is concentrated in the hands of those “Mittelstand” families, which is a quasi-feudalistic economic system, and most of the wealth redistribution and “egalitarianism” in Germany is achieved by way of inefficient/unproductive taxation, which is not utilitarian.

    I don’t know what you mean by ‘utilitarian’ but German public education, public healthcare, public transportation, public utilities, public housing, etc. are more equitable than those in the USA. Those social welfare benefits come from income taxes paid by German companies and individuals but benefit German society.

    Which is more equitable: one McDonalds owning 1,000 burger joints or 1,000 families owning one burger joint each? To put in another way: is it better to work for McDonalds and get paid a salary which I can use to buy shares of stock in the publicly-listed corporation? Or, to work for a burger joint you own?

    • Thanks: showmethereal
    • Replies: @FKA Max
    , @FKA Max
  171. Kali says:
    @DevilAdvocate

    There is one thing thatsI know for sure, Dev, and that is that we do not centrol the destination or the outcome. And though this fact does’t absolve us of our responsibility towards this abundant and beautiful gift, it does relieve us of any nurotic imperative to fiix everything, and of our fear of failure.

    Some things really are in Gods hands.

    For our part, to do all we may do for the good of all, out of love or compassion creates a positive feedback loop into the all of everything. Thus we contribute our existance on this earthly plane into the service of the Divine… and on it goes.

    To fear dying is to fear living. Fear of the end is fear of the beginning.

    The challenge of our times is to continue the celebration of life, despite the difficulties and challenges we face, for no other reason than Love. Less than this may result in the loss of our soul to the dark forces of mamon, which will almost certainly result in a nuclear armagedon/reset/new-beginning.

    If everything we do, as individuals, is amplified into the all of everything, then our individual choices and attitudes may have a huge and positive impact… if we choose wisely.

    Right now we have nothing to lose but our chains… and our fear. Fear is disolved in Love.

    Often, when I find myself becoming nurotic and anxious about the state of the world, I look at the night sky and realise, I am not in control of the destination.

    With masses of love‚
    Kali.

    • Replies: @DevilAdvocate
  172. Kali says:
    @mulga mumblebrain

    They are ‘natural’ but exacerbated by anthropogenic climate destabilisation.

    Not true. In the case of Portugal, the importing of eucilyptus to feed the paper industry, the diversion of natural water sources to cities, to bottling plants (thus drying up farmland, which is then abandoned and becomes overgrown) have created environmental conditions which possitively invite fire!

    Add in to the mix the huge financial boon to certian industries and sectors resulting from the fires, and the prevelance of arson, and the causes of the wildfires which regularly sweep through this country (what they call “progress”) become all too clear.

    Forgive the shortness of my tone. The sun is shinning and I have masses of work waiting for me!

    Much love, Mr Mumble,
    Kali.

  173. FKA Max says: • Website
    @antibeast

    Following below (Click the MORE tag) an obviously somewhat dated but still useful and insightful 1991 Harvard Business Review article by Peter Drucker https://en.wikipedia.org/wiki/Peter_Drucker about the ownership structure and concentration of the American stock and bond markets, and how it differs from the European (and Japanese) ownership models. The “‘big boys’ on Wall Street” are mostly institutional investors aka primarily pension funds, who are represented by and the clients of asset managers/”trustees” like, most prominently/infamously, Black Rock et al. https://www.blackrock.com/institutions/en-axj/our-client and https://en.wikipedia.org/wiki/BlackRock

    Reckoning with the Pension Fund Revolution
    https://hbr.org/1991/03/reckoning-with-the-pension-fund-revolution or https://archive.ph/lxuAL

    Most important excerpts:

    [MORE]

    All told, institutional investors—that is, primarily pension funds—control close to 40% of the common stock of the country’s large (and many midsize) businesses.
    […]
    Equally important, and still largely overlooked, pension funds also hold 40% or so of the medium-term and long-term debt of the country’s bigger companies.
    […]
    The rise of pension funds as dominant owners and lenders represents one of the most startling power shifts in economic history. The first modern pension fund was established in 1950 by General Motors. Four decades later, pension funds control total assets of \$2.5 trillion, divided about equally between common stocks and fixed-income securities. Demographics guarantee that these assets will grow aggressively for at least another ten years. Barring a prolonged depression, pension funds will have to invest \$100 billion to \$200 billion in new resources every year throughout the 1990s.
    […]
    Actually, the United States is quite late among developed countries in concentrating ownership of large companies in a small number of institutions. In Germany, the country’s three major banks have long controlled around 60% of the share capital of the larger companies, partly through direct holdings, partly through the holdings of their customers that, under German law, the banks manage and vote on. In Japan, the majority of large companies are members of a small number (ten at most) of industrial groups, the now-familiar keiretsu. In a keiretsu, 20% to 30% of the share capital of each member company is held by the other members and by the group’s bank and trading company, and practically all credit to the member companies is provided by the group’s bank. In Italy, half of the country’s large businesses have been owned or controlled by the state since the 1930s. (IRI, the biggest state holding company, is the second-largest company in all of Europe.) The rest of Italy’s big businesses are under the control of five or six huge conglomerates such as the Fiat Group.

    Ownership in the United States is quite different. It is indeed unique. In Europe and Japan, stock ownership is a means to nonfinancial ends. A German bank’s income from the companies to which it is the hausbank comes through commercial relationships rather than through its ownership stake. Deutsche Bank, Germany’s largest financial institution, gets many times as much in fees from client companies for mundane services such as letters of credit as it receives from them in stock dividends. The keiretsu’s first concern is power—power in the market, power over suppliers and subcontractors, power and influence with ministries and civil servants. As for tangible benefits, a keiretsu company profits far more from the business it gets from the other members than from their dividends. The government holdings in Italy constitute the largest concentration of economic power in any market economy. They serve primarily political objectives. The companies are run to provide jobs in politically important regions, to create lucrative executive positions for the party faithful, and to supply campaign funds for the parties in power.

    Neither the German banks nor the Japanese keiretsu nor Italy’s government nor its conglomerates has much interest in share prices or capital gains. They do not intend to sell. The American pension fund, by contrast, has no commercial ties to the companies in which it invests or to which it lends. It is not a “business” at all but an “asset manager.” There are, as we shall see, important lessons to be learned from developments in Europe and in Japan, both as to what to do and what not to do. But in the United States, the rapid shift of ownership and credit power to these new and quite different owners poses totally new and very different problems.

    Pension funds first emerged as the premier owners of the country’s share capital in the early 1970s. But for 15 or 20 years thereafter, the realities of pension fund ownership were ignored. In part this was because the pension funds themselves did not want to be “owners.” They wanted to be passive “investors” and short-term investors at that. “We do not buy a company,” they asserted. “We buy shares that we sell as soon as they no longer offer good prospects for capital gains over a fairly short time.” Moreover, the development was totally at variance with American tradition and with what everybody took for granted—and many still take for granted—as the structure of the U.S. economy. Long after pension funds had become the largest holders of equity capital, the United States was still referred to as the country of “people’s capitalism” in which millions of individuals each owned small pieces of the country’s large companies. To be sure, employees have become the owners of America’s means of production. But their ownership is exercised through a fairly small number of very large “trustees.”
    […]
    Ownership in the United States is far less concentrated than in Germany, Japan, or Italy—and will remain far less concentrated. Hence the U.S. pension fund still has more elbow room than the big bank in Germany, the keiretsu in Japan, or the industrial conglomerate in Italy. But some large U.S. pension funds each own as much as 1% or even 2% of a big company’s total capital. All pension funds together may own 35% of the company’s total capital. (For example, pension funds own 75% of the equity of the Chase Manhattan Bank.) The 1% holder cannot sell easily. And the 40% holder, that is, the pension fund community at large, cannot sell at all. It is almost as committed as the German hausbank to a client company or the Japanese keiretsu to a member company. Thus the large funds are beginning to learn what Georg Siemens, founder of Deutsche Bank and inventor of the hausbank system said a hundred years ago when he was criticized for spending so much of his and the bank’s time on a troubled client company: “If one can’t sell, one must care.”

    • Replies: @antibeast
  174. antibeast says:
    @FKA Max

    1991 Harvard Business Review article by Peter Drucker

    That Drucker became known as the ‘father of modern management’ does not impress me at all, given the performance of US corporations such GM mentioned in that article. Besides, that article is completely out of date as it was published in 1991, using data dating back to the 1980s. The central thesis of that article is that US pension funds own some 40% of US equities which implies a broad ownership base of US corporations listed in US stock exchanges. But the rise of US hedge funds since then has become the norm in Wall Street, most of which are legally domiciled in offshore tax havens.

    Neither the German banks nor the Japanese keiretsu nor Italy’s government nor its conglomerates has much interest in share prices or capital gains. They do not intend to sell. The American pension fund, by contrast, has no commercial ties to the companies in which it invests or to which it lends. It is not a “business” at all but an “asset manager.”

    That’s precisely the problem with US Financial Capitalism — Wall Street’s only short-term interest is share prices or capital gains — without any long-term interest in the health and future of US industries.

    Your arguments are based on dubious logic, considering that much of the national wealth of America have been ‘financialized’ into financial assets as US T-bills, stocks, bonds, etc., which are owned either by US entities such as hedge funds, private equity firms, corporations, family offices, etc. or by foreign offshore interests. Increasingly, much of the financial assets owned by US entities have been ‘outsourced’ to offshore entities in order to avoid taxation on capital gains and dividend income. That’s the IRS loophole which allows non-resident foreign investors to buy/sell/trade US financial assets and not have to pay income taxes to the US government.

    The twin trends of ‘financialization’ and ‘globalization’ of the US economy had the pernicious effect of hallowing out much of the US industrial base which amplified the socio-economic inequality across all sectors and classes of US society. The only asset class left that the US middle-class owns is their real properties plus family-owned businesses. But even that asset class is now being targeted by Wall Street vultures for ‘financialization’ and ‘globalization’. That means the asset-stripping of the national wealth of America continues as its USD-based financial assets get sold by Wall Street vultures to foreign investors and offshore interests looking to exchange their USD for physical assets in America.

  175. @mulga mumblebrain

    My point was about the difference in fires on plant matter (natural or artificially enhanced by climate change) and fires caused by nuclear detonations.
    We may agree there is a vast difference, no ?

    As for the climate change, you are well aware there are plenty of proponents of the exact opposite direction, namely here on TUR.
    I haven’t studied properly the arguments of both sides, so I cannot have a formed opinion. I prefer to concentrate on other issues (more pressing IMO) as the current political and economic state of affairs, which are probably more consequential in the short term.

    • Replies: @mulga mumblebrain
  176. @Kali

    Thanks Kali for the care on your reply.

    We do not control, but we are deeply responsible for the outcomes.
    This is apparently contradictory. But not so much.
    We were created (I mean, the spiritual man, when he emerged from the evolutionary pool) to attain the highest peaks, imaginable and unimaginable. To get closer to God in short.
    But we are not supposed to be the “eternal child”, for whom God must take care all the time. We were endowed with the highest gifts: Reason and (Free)Will.
    Without these two, we cannot navigate, make our choices, and evolve.
    What would happen if God was to take us by hand, and lead us to that ultimate peak ? We would be denied the opportunity to learn, to grow, to choose. We would never be independent and fully capable.
    (There are many spiritual beings who are just like those “children”, that’s why they envy Man).

    But this Reason and Free Will is also a double-edged sword. It allow us to progress, and to become stuck. To do good and to do evil.

    This is what I said to another poster here:

    Man is basically good (or has the full potential to be) but somewhere in the past, he corrupted himself and felt into a state where is very difficult to get out. Something similar to a perpetual defective gene.
    So, now, we can say he is basically evil (or more precisely, deluded).

    the “myth” of Eden is more about how man made an intellectual/spiritual evolutionary leap, a giant leap in fact, aided by his hypertrophied brain, which opened suddenly a serie of new avenues.
    This opening entailed also large risks, but there was no point on not advancing, evolution is a spiral but with a clear direction upward.
    At the moment, we got entrapped in one of those risks, perhaps the “big one”. In a way it was a necessary risk.
    But not being able to overcome this “difficulty” may well cause our extinction, as the present state of events confirm.

    Do I think God will intervene if all is lost ? Some say no, because there is no way the rule of “Free Will” can be violated.
    Others say yes, that He will not let fail completely his best creation, and will save those who took in good charge the gifts they were given by Him. Many texts and prophecies talk about this.

    • Replies: @Kali
  177. FKA Max says: • Website
    @antibeast

    I don’t know what you mean by ‘utilitarian’ but German public education, public healthcare, public transportation, public utilities, public housing, etc. are more equitable than those in the USA. Those social welfare benefits come from income taxes paid by German companies and individuals but benefit German society.

    The problem with that is what “Parkinson’s Law” https://en.wikipedia.org/wiki/Parkinson%27s_law describes as “the rate at which bureaucracies expand over time” “using two forces: (1) “An official wants to multiply subordinates, not rivals,” and (2) “Officials make work for each other.” He noted that the number employed in a bureaucracy rose by 5–7 per cent per year “irrespective of any variation in the amount of work (if any) to be done.“”

    That’s what I meant by not being utilitarian. This bloated bureaucracy and the associated generous, to some wasteful, public amenities provided by the German government make the country vulnerable and inefficient. One good, recent example, of what I’m talking about is the following: “The German Bathing Society (DGfdB) had explained that baths lower temperatures to save gas and prepare for the coming winter. Pools could also take other measures and, for example, do without heated outdoor areas or other attractions. If gas supplies from Russia were to be cut off, the swimming pools could also close completely.

    What’s special about Germany’s public swimming pool culture
    https://www.dw.com/en/whats-special-about-germanys-public-swimming-pool-culture/a-48926844
    “The pools are full when everyone wants to go — when it’s really hot in the summer. […] On [most] other days, the outdoor pools are not full at all; they’re surprisingly empty, and you can go for a nice and relaxing swim!”

    Interestingly enough, the desire to escape “Parkinson’s Law” is likely what led to Perestroika https://en.wikipedia.org/wiki/Perestroika

    Parkinson’s Law was translated into many languages. It was highly popular in the Soviet Union and its sphere of influence.[3] […] Mikhail Gorbachev responded that “Parkinson’s law works everywhere.”

    C. Northcote Parkinson – Russian Theocracy

    • Replies: @antibeast
  178. antibeast says:
    @FKA Max

    That’s what I meant by not being utilitarian. This bloated bureaucracy and the associated generous, to some wasteful, public amenities provided by the German government make the country vulnerable and inefficient.

    If what you’re saying is true, then Germany should be a Third World basket case by now, given its generous and extensive welfare benefits. But the Germans are known for their competence, discipline and efficiency. Besides, the USA’s bloated bureaucracy is much worse than Germany’s, given the former’s humongous defense budget and expansive military presence overseas. That’s why US citizens and businesses shoulder much more of their healthcare costs because their taxes go to feed the US military-industrial complex instead of things like healthcare. Other examples include public education which is better in Germany because they’re better funded and more extensive than the USA. That means national wealth in Germany is evenly distributed through public goods and services unlike the USA which relies on private goods and services.

    • Replies: @FKA Max
  179. FKA Max says: • Website
    @antibeast

    Besides, the USA’s bloated bureaucracy is much worse than Germany’s, given the former’s humongous defense budget and expansive military presence overseas.

    True, but this is going to change soon as Germany is planning to increase its military spending from around 1.4% of GDP to over 2% https://en.wikipedia.org/wiki/List_of_countries_by_military_expenditures as required by the minimum NATO commitment threshold.

    Also, you very well know that all that generous German “egalitarian and equitable” public spending and welfare was precisely possible and subsidized, because Germany especially “freeloaded” on the “USA’s […] humongous defense budget and expansive military presence overseas” for the last 70+ years.

    So in that context, claiming that “USA’s bloated bureaucracy is much worse than Germany’s” is simply disingenuous, IMHO.

    Germany, Germans and the German economy have probably been the main beneficiaries of the “peace dividend” provided and enforced by the Pentagon:

    Is the Peace Dividend Over?
    Mar 2, 2022
    https://www.project-syndicate.org/commentary/sustainable-growth-requires-defense-energy-security-by-kenneth-rogoff-2022-03 or https://archive.ph/NKCvi

    [MORE]

    For many decades, Western living standards have been boosted by a massive “peace dividend.” For example, US defense spending fell from 11.1% of GDP in 1967, during the Vietnam War, to 6.9% of GDP in 1989, the year the Berlin Wall fell, to just over 3.5% of GDP today. If US defense spending as a share of GDP was still at the Vietnam-era level, defense outlays in 2021 would have been \$1.5 trillion higher – more than the government spent on social security last year, and almost triple government spending on non-defense consumption and investment. Even at the level of the late 1980s, defense spending would be more than \$600 billion higher than today. The extra cost would have to be funded by higher taxes, greater borrowing, or lower government spending in other areas.

    Europe’s defense spending has long been far lower than that of the US. Today, the United Kingdom and France spend just over 2% of their national income on defense, and Germany and Italy only around 1.5%. Moreover, national interests and domestic lobbying mean that European defense spending is highly inefficient, with the whole being considerably less than the sum of its parts.

    • Replies: @antibeast
  180. antibeast says:
    @FKA Max

    Germany might have saved some of their public funds from defense spending but they spend those saved money on education, healthcare, transportation, etc. Also, Germany contributes more funds to the EU which subsidizes the lower income member-states like Greece, essentially carrying the financial burden for the rest of the EU. Germany is an industrial powerhouse with a dominant share of the industrial output across the EU. That has allowed Germany to retain its manufacturing industries which employ lots of German blue-collar workers who are paid higher wages than Americans while enjoying better welfare benefits and greater job opportunities.

    Your last post doesn’t make any sense at all.

    • Replies: @FKA Max
  181. FKA Max says: • Website
    @antibeast

    Your last post doesn’t make any sense at all.

    How so? Your last post doesn’t make any sense at all, to me either. In your previous comment you stated: “If what you’re saying is true, then Germany should be a Third World basket case by now, given its generous and extensive welfare benefits.”

    Germany’s military is in fact a “Third World basket case” compared to the U.S.’s and even compared to Russia’s military before the Ukraine invasion, as its budget was slashed to the bare minimum over the previous decades in favor of social welfare programs and balancing the budget https://www.hertie-school.org/en/content/detail/content/dont-confuse-germanys-fiscal-black-zero-with-the-debt-brake etc., and on top of that the German military’s bureaucracy is highly dysfunctional and inefficient, as even high-ranking German generals admit: https://www.dw.com/en/german-military-lacks-equipment-and-recruits-says-damning-report/a-47281996 and https://www.politico.eu/article/i-am-pissed-off-chief-of-the-german-army-alfons-mais-states/

    [MORE]

    The German industrial and manufacturing sector is impressive for sure, but you can’t just conveniently ignore those other deficits Germany has, and that actually, in my opinion, were a huge contributing factor in Trump’s election and popularity, i.e. him criticizing/calling out Germany/Europe enjoying more or less free NATO/American military protection, while foolishly getting addicted to and way too dependent on cheap/lucrative, but geo-politically very costly, as we can now see, anti-NATO/American Russian oil and gas supplies and trade with China:

    President Donald Trump Criticizes Germany At NATO Breakfast | NBC News
    Jul 11, 2018

    I’m not sure this discussion/debate is really productive anymore, because I don’t feel you debate in good faith. But thanks anyway for the exchange. I wish Germany continued economic prosperity, and I hope it doesn’t come to this…

    Nazi leader’s son: ‘Don’t trust us’ Germans – BBC News
    Apr 26, 2017

    “Germany could return to authoritarianism if the economic conditions were to seriously worsen in the country, the son of Hans Frank the governor general of Nazi occupied Poland during World War Two, has told BBC Hardtalk. “As long as our economy is great, and as long as we make money everything is very democratic,” said Niklas Frank, but “if we have five to 10 years heavy economic problems the swamp is a lake, and is a sea and will swallow again, everything,” he added.”

    • Troll: mulga mumblebrain
    • Replies: @mulga mumblebrain
  182. Kali says:
    @DevilAdvocate

    I fully agree with most of what you say above, Dev. I’ve repeated several times that, as a species, we are now being presented with an oportunity to mature, to lay down any inherrited karmic burden in order not to carry it forward to be inflicted on future generations; an oportunity to evolve. (This includes the imperative to let go of our perceived need for governments to manage our affairs.)

    Do I think God will intervene if all is lost ? Some say no, because there is no way the rule of “Free Will” can be violated.
    Others say yes, that He will not let fail completely his best creation, and will save those who took in good charge the gifts they were given by Him. Many texts and prophecies talk about this.

    When God is perceived as a purely external force, then the infant man will pray and wait for salvation.

    When God is recognised as an integral force then the adult man takes responsibility for direction of his evolutionary path.

    We are wholy responsible for everything we leave in our wake. And so we must learn to live consciously in order not to carry forward the pains of our past and present.

    That’s how I see it anyway.

    Much love,
    Kali.

    • Replies: @DevilAdvocate
  183. @FKA Max

    The Intel CEO in that video doesn’t mention Israels’ tight knit integration with Intel.

    https://www.jpost.com/Israel-News/Intel-CEO-We-think-of-ourselves-as-an-Israeli-company-as-much-as-a-US-company-484209

    Large portions of Windows 10 code was written in Israel.

    Would the Mossad and Unit 8200 ignore such an incredible opportunity to build in multiple hardware and software backdoors that it could later exploit?

  184. @Kali

    Thanks, Kali. It seems we are quite in tune about this.

    Al the best !

  185. @FKA Max

    Going by China Uncensored already shows questionable reasoning ability.

    • Replies: @mulga mumblebrain
  186. @Lee

    The US dollar hegemony that ended last Wednesday is hegemony over world finances. The hegemony on steroids refers to the EU and the rest of the Anglo-Zionist empire: Japan, Canada, the US, Australia/NZ. Africa and Latin America are in play with both sides having a chance to make deals. Russia, China, India, Iran are no longer under US dollar reserve control, and the Gulf states have made it clear that they reserve the right to transact outside US dollar control.

  187. anon[129] • Disclaimer says:
    @Jim H

    Cracks are appearing. UK has just allowed Russian gas payments via Gazprom bank in Russia, in rubles. Has the fog lifted? Has sanity returned?

    • Thanks: Kali
  188. @FKA Max

    Oh, I see. This troll works for Lockheed or Raytheon or some other MIC parasites. I wondered why it was such an obnoxious shit.

  189. @showmethereal

    A troll quoting another troll-hardly surprising.

    • Replies: @FKA Max
  190. @DevilAdvocate

    The proponents of the theory of anthropogenic climate destabilisation are, inter alia, 99% of active climate scientists, ALL the Academies of Science and ALL the learned scientific societies on Earth. Proponents of the contrary opinion are mostly lunatic Rightwing ideologues, many openly or surreptitiously in the pay of the fossil fuel industries and Rightwing groups, a tiny number of real scientists, many on the pay of the same interests, and numerous bellicose and pig ignorant morons who oppose the science, and the ever mounting evidence from reality, mostly for no other reason than that they HATE environmentalists.
    What, pray tell, is more ‘pressing’ than the ecological collapse of the life-supporting systems here on Earth?

    • Replies: @HdC
  191. HdC says:
    @mulga mumblebrain

    “…Proponents of the contrary opinion are mostly lunatic Rightwing ideologues,…”.
    That is a communist type of argument, calling those with opposing viewpoints “lunatic” and right wing. One would expect better here on UR.

    I live in south-western Ontario, Canada (NOT Ontario, Los Angeles), and in 60+ years in this environment I have not noticed any consistent evidence for climate change.

    In my opinion the whole narrative of “climate change” is a fraud. It was modified from “global warming” to “climate change” because the proponents of the former were unable to produce verifiable evidence to support their assertions. Further, since some winters are often more severe than is the norm, the narrative had to be changed to accommodate those observations also. Thus, “climate change” addresses all eventualities. Ya gotta luv that term. Scientific it is not: a scientific premise must be disprovable; “climate change” is not scientific since it “predicts” all possibilities.

    Governments of course love this narrative because it provides wonderful opportunities for new taxes. In Canada we now have the “carbon tax”, adding a tax to one of the necessities of life in this quite harsh climate: winter heating fuel.

    My step son and his family live on sizable acreage of timberland, and he heats his home primarily with winter-fallen trees which he cuts into fire wood during the spring and fall. Not sure what this does to the CO2 levels but, that is plant food and NOT a pollutant in the accepted sense of the word.

    • Replies: @mulga mumblebrain
  192. FKA Max says: • Website
    @mulga mumblebrain

    In case you want to learn something, I encourage you to read and study the research I linked below (by the way, the author https://www.unz.com/comments/all/?commenterfilter=Afrosapiens of this article/paper is black and is married or engaged to a French Jewish lady, IIRC)… China’s average IQ is inflated by 20+ points. The real average Chinese IQ being around 84, currently. Since you are from Australia, you should be happy to know that Australia’s average IQ is the highest in the World, at 107.

    [MORE]

    Worldwide IQ estimates based on education data
    https://notpoliticallycorrect.me/2017/09/05/worldwide-iq-estimates-based-on-education-data/ or https://archive.ph/YXjjf

    IQ-GDP per capita correlation:
    My previous calculation from the worldwide data yielded a correlation coefficient of 0.65 between my IQ estimates and GDP/capita and 0.60 for Lynn’s. Among the 20 most populated countries, the correlation rose by 0.24 points to 0.89 with my estimates and by 0.12 points to 0.72 with Lynn’s. Excluding Sub-Saharan African countries did not affect the predictive power of my estimates (+0.01) and further weakened Lynn’s by 0.04 points, resulting in a 0.22 gap in predictive power favoring my estimates again. This correlation of 0.89 between my IQ estimates and GDP per capita within the world’s population top 20 countries likely is the highest correlate of IQ ever reported in the psychological science and gives strong support to the relationship between schooling, economic development and cognitive ability.

  193. @Rev. Spooner

    And it’s what heartless plutocrats will do to buy up millions of foreclosed homes right here in the USA as our economy is deliberately destroyed.

  194. @FKA Max

    The supposedly high australian IQ hasn’t seemed to prevent them from acting even more like irrational, medically ignorant, totalitarian jackasses than most of the rest of the world.

    F– Australia.

    • Replies: @FKA Max
  195. @peterAUS

    Yeah, let’s talk all about inequality: who has a better chance of getting basic medical care without going in debt, or major surgery without crippling / bankrupting debt — a “middle-class” American or a middle-class Russian?

    Having said that, the pricks who own yachts worth more than 100 families will earn in their lifetimes, need to face higher taxation, if not outright expropriation and imprisonment, in Russia and the West.

  196. @FKA Max

    Ramsey is talking about net worth, not cash. For most Americans with net worth over \$1 million, most of the net worth is in a retirement investment account and a house. Often almost all of the net worth is in those two items, not cash.

    They cannot withdraw from the retirement investment account before age 59.5 without a 10% penalty plus a ton of federal and usually state income tax). Even without the penalty, after age 59.5, they will pay high income tax on their withdrawals from a tax-deferred 401(k) / IRA (there’s far more money invested in tax-deferred accounts, where withdrawals are heavily taxed, than in Roth IRAs, whose withdrawals are theoretically not taxed (but they probably will be)).

    As for the real estate, should people expect to be able to keep selling their homes at these stupidly inflated prices as interest rates for mortgage loans go waaaaaaay up or those loans become unavailable for most people?

    I’m happy for anyone (like my wife and me) who worked hard, saved prudently, sacrificed, to reach a net worth of \$1 million or more. The great majority of such people are not plutocrats or parasites. They (and we) did not get that money from predatory banking and rapacious drug and medical-device prices, doctor fees, or military equipment / wars (those are the scumbags who deserve prison and expropriation, not the 90% of net-worth millionaires who came by their wealth honestly and fairly). They (and we) didn’t get the money from inheritances, either.

    But Ramsey is increasingly out of touch with the opportunities, income, housing, and medical care realistically available to a large minority of Americans — soon to be most Americans. That includes not just our enormous dead-weight parasite dimwit population, but people of all backgrounds who are reasonably capable and are working and trying their best.

    While we’re on the topic of Dave, he seems to be a rah-rah redneck military-worshipper, e.g. telling retired paid thugs who call in, “thank you for your service (sic).” We may share some of Dave’s taste in music (country) and his enjoyment of guns and respect for Second Amendment self-defense rights. But on economic issues he is living in a dream world and is discompassionate without meaning to be.

    Practically, absent evidence to the contrary, we can conclude that he supports the profligate spending (of borrowed or inflationarily printed money) of more than a trillion dollars each year on aggressive, non-defensive wars and occupations and dubiously effective exorbitantly priced “weapons systems” and (LOL) aircraft carriers … and the interest on the debt incurred for those wars, occupations, and weapons in the past. Military welfare is fine with Dave. We’ve met him and used to enjoy his show, but he refuses to acknowledge how many decent Americans live and how many more are headed “down there” too.

    • Replies: @FKA Max
  197. FKA Max says: • Website
    @RadicalCenter

    I’m happy for anyone (like my wife and me) who worked hard, saved prudently, sacrificed, to reach a net worth of \$1 million or more. The great majority of such people are not plutocrats or parasites. They (and we) did not get that money from predatory banking and rapacious drug and medical-device prices, doctor fees, or military equipment / wars (those are the scumbags who deserve prison and expropriation, not the 90% of net-worth millionaires who came by their wealth honestly and fairly). They (and we) didn’t get the money from inheritances, either.

    Congrats to you and your wife, and thank you very much for sharing your “average Joe” millionaire next door success story! Maybe people in this comments thread start realizing, that I’m not just making this stuff up and propagandizing.

    Ramsey is talking about net worth, not cash. For most Americans with net worth over \$1 million, most of the net worth is in a retirement investment account and a house. Often almost all of the net worth is in those two items, not cash.

    I’m aware of that. That’s why I’m usually advocating folks in a position like that downsize, i.e. sell their homes in an expensive part of the state/country (SoCal, etc.) and then buy in Cash with no mortgage, less expensive houses/apartments in a more affordable part of the state/country (Midwest, etc.), or even in a different, safe country (southern Europe, etc.), pocketing the difference and putting it in savings or investments and living comfortably but still frugally off that extra Cash (flow) retirement nest egg, that resulted from those arbitrage house/apartment deals.

    There is an interesting YouTube channel with a libertarian bent, that educates higher net worth individuals and/or families on exactly that process in case they choose the latter option of deciding to leave the U.S., called “Nomad Capitalist”: https://www.youtube.com/c/nomadcapitalist

    2 Underrated European Countries to Move to
    Apr 14, 2022

  198. FKA Max says: • Website
    @RadicalCenter

    Yes, Australia is a curious case… I had a lengthy, in-depth HBD (Human Bio-Diversity) discussion about the nation and specifically about its Euro inhabitants/immigrants a few years ago here on UR, in case you are interested:

    Plus, it is a former penal colony so there probably is a higher prevalence of low-activity MAOA in that population

    – October 25, 2017 at 11:16 pm GMT • 4.6 years ago • 200 Words https://www.unz.com/jthompson/the-worlds-iq-86/?showcomments#comment-2056167

    An estimated one in five Australians has convict ancestry. In Tasmania, the figure is even higher. In 2009, 74% of Tasmania’s population was estimated to be descended from convicts.

    – October 26, 2017 at 12:57 am GMT • 4.6 years ago • 300 Words https://www.unz.com/jthompson/the-worlds-iq-86/?showcomments#comment-2056239

    One of my favorite YouTubers is comedian and leftist political commentator and activist “friendlyjordies” https://www.youtube.com/user/friendlyjordies from Australia, who, I believe, has an extremely high IQ.

    He created a fantastically funny 5-part video series about Australian country towns a few years back, highly recommended:

    True Stories from Australian Towns [Vol. I]

    • Replies: @Anonymous
  199. Anonymous[222] • Disclaimer says:
    @FKA Max

    Yes very funny.

  200. @FKA Max

    Thank you, we are fans of the ol’ tall tea-drinking tax-lowering eyebrow-twitching Ohioan, Andrew Henderson. And we’re generally inclined to follow his advice to “go where you’re treated best.”

    We likely will not be able to justify hiring Andrew at his rates — and can’t afford many of his suggested options for citizenship by investment. But he’s certainly educated us and influenced our thinking.

    We have re-focused our travel away from exploring other parts of the USA, towards visiting new countries and deciding where to obtain additional residence permits / citizenships abroad.

    We have also decided to spend our limited resources buying several small homes abroad, not one overpriced house here.

    God willing, each of our children will inherit a small home abroad. Not a beachfront villa but a place, paid for, that they can settle in or have as a fallback option. Each should have at least permanent residence in several countries other than the USA, with the ability to communicate well in those countries’ languages, and the right to seek citizenship by naturalization after living there a reasonable period of time.

    • Agree: FKA Max
  201. @FKA Max

    What an hideous fate-to be invaded by US ‘libertarians’, the very nadir of ‘human’ existence.

  202. @FKA Max

    There are many things that turn my stomach, and top of the pile are ‘libertarian’ misanthropes and IQ obsessives. But I do love comics-Austfailia the world’s highest IQ!!!??? Not in this universe, cobber. And I do love the vicious racism of the lunatic down-grading of Chinese intelligence. You scum are SHIT scared, aren’t you. Lovin’ it!

    • Replies: @FKA Max
    , @Ed Case
  203. @HdC

    What do I call a malignant buffoon who thinks that his or her alleged observations of the climate in one tiny area outweigh the scientific consensus and the concurrence of EVERY Academy of Science and learned scientific society on Earth? The most repulsive combination of human idiocies must be Rightwing stupidity, arrogant pig ignorance and delusions of mental adequacy, and you have them ALL, but bad.
    Then to prove the point you use the denialists’ most moronic ‘argument’-denial from nomenclature. What people call an hypothesis that became a theory has NO effect on the adequacy or not of that theory. I call it anthropogenic, because caused by humanity, climate destabilisation, because the climate IS being disturbed, and we required the relative stability of the Holocene for human civilization to rise, and, barely, support seven billion people. Now that that stability is ended by the most rapid and marked forcing of increased greenhouse gases in the atmosphere for 55 million years or so, we are fecked. Thanks.

    • Replies: @HdC
  204. HdC says:
    @mulga mumblebrain

    According to the accepted narrative, the last ice age in North America ended 12,000 years or so ago. Meaning that we have had global- North American- warming since then.

    Without that global warming we in southern Ontario would be living on a mile-thick sheet of ice in igloos.

    You’ll forgive me if I don’t get bent out of shape when the CO2 constituent of the atmosphere increases by a minuscule amount thus favouring plant growth.

    • Replies: @mulga mumblebrain
  205. FKA Max says: • Website
    @mulga mumblebrain

    And I do love the vicious racism of the lunatic down-grading of Chinese intelligence. You scum are SHIT scared, aren’t you. Lovin’ it!

    Far from it. The Chinese Communist Party (CCP) and by extension the Chinese nation/people are their own worst enemy, so there’s no reason to be worried, unless our corrupt politicians keep selling us out to the CCP.

    UR commenter Paul Mendez recently observed the following (and I replied to him in that comments thread, so check it out for details):

    Think back to Mao. At one point, he announced that China should become self-sufficient in iron production by encouraging millions of peasants to start smelting iron in backyard. The peasants ended up melting down their farm tools and cooking pots to exceed their quotas. A call to increase grain production by killing birds that ate the grain led to the near extinction of sparrows and a subsequent plague of insect pests. Human wave attacks by Chinese soldiers armed with only axes and kitchen knives. The excesses of the Cultural Revolution.

    Like the Japanese, the Chinese think anything worth doing is worth overdoing.

    – April 9, 2022 at 9:16 pm GMT • 16.9 days ago • 200 Words https://www.unz.com/isteve/is-the-cia-competent-enough-to-pull-off-psy-ops/?showcomments#comment-5282631

    Perfect case in point of “the Chinese think anything worth doing is worth overdoing” below (Click MORE tag)… Why should the Human Accomplishment https://en.wikipedia.org/wiki/Human_Accomplishment West [ recent, detailed comment of mine on the topic of why Westerners are so WEIRD https://www.unz.com/article/the-aryan-ideal-from-ben-franklin-to-national-socialism/?showcomments#comment-5303818 ] be scared of a nation that is soon to consist of mostly myopic https://en.wikipedia.org/wiki/Myopia#Asia cram school https://en.wikipedia.org/wiki/Cram_school students!?

    [MORE]

    The reason East Asians do so well on IQ tests and in intelligence competitions, etc., is the same reason they have high rates of myopia, they spend a lot of time indoors studying from a young age on:

    East Asia has been gripped by an unprecedented rise in myopia, also known as short-sightedness. Sixty years ago, 10–20% of the Chinese population was short-sighted. Today, up to 90% of teenagers and young adults are.
    […]
    “To put it crudely, myopia is not the ophthalmic sign of intelligence, rather it marks the striver”, says Alireza Mirshahi. Quote Source: https://archive.ph/u6p7f

    – August 28, 2018 at 7:43 pm GMT • 3.7 years ago • 600 Words https://www.unz.com/article/dysgenics-and-low-creativity-why-china-cant-save-civilization/?showcomments#comment-2487873

  206. Petermx says:
    @FKA Max

    Where do you get your information from? The New York Times? CNN? China has already surpassed the USA and the future for the USA looks only worse. I think they will lose Europe as their lapdog when Europeans realize the USA is nothing to be admired and has only hurt Europe with its anti-Russian hatred. This will hopefully happen soon, as within 5 years. Hopefully when this is realized Europe will throw out its own trash like von der Leyen and Macron so people will be put in power that care about their own people. But the USA will still have that other has been, the not so Great Britain as a friend and its “most important ally” Israel. US politicians will dutifully repeat this even after the US has collapsed. Maybe when Americans became enraged at the destruction of their country and wring their politicians necks you’ll stop hearing it.

  207. @FKA Max

    Yes, indeed-a truly vicious, and ludicrously self-deluded racist imbecile. Homo westernensis in its death throes. Do you really believe this tripe? I bet you do. How much you must HATE being outdone by short-sighted ‘gooks’, ‘chinks’, ‘slopes’, ‘ yellow devils’ etc. Mind you, you’re plainly a poor specimen of the ‘superior’ Western type.

    • Replies: @FKA Max
  208. @HdC

    I do love it when a REAL denialist moron trots out an ‘argument’ so imbecilic that it would have high school science students tottering in derision. Followed by two other monuments to the ‘thought processes’ of idiots.

  209. antibeast says:
    @FKA Max

    Human wave attacks by Chinese soldiers armed with only axes and kitchen knives.

    LOL! You must have watched too many Kung Fu movies, such as the following video:

  210. tumi says:

    How is Russia impacting the future of dollars or dollar’s cuisine Euro by forcing the buyer from Germany or Holland open 2 accounts in Gazoprambank and congaing deposited Euro into Rouble and then allowing the buyer buy the gas in Rouble ? What is happening to the deposited Euro ?
    Is it doing same thing in relation to Indian or Chinese currency ?

  211. FKA Max says: • Website
    @mulga mumblebrain

    Do you really believe this tripe? I bet you do. How much you must HATE being outdone by short-sighted

    It’s about selection pressures. The Chinese have been selecting for certain traits for millennia, recommended reading ( Click MORE tag, I participated in the discussion in that comments thread here https://www.unz.com/runz/how-social-darwinism-made-modern-china-248/?showcomments#comment-1866207 ):

    How Social Darwinism Made Modern China
    Ron Unz • The American Conservative • March 11, 2013

    [MORE]

    https://www.unz.com/runz/how-social-darwinism-made-modern-china-248/

    The social importance of competitive examinations was enormous, playing the same role in determining membership in the ruling elite that the aristocratic bloodlines of Europe’s nobility did until modern times, and this system embedded itself just as deeply in the popular culture.
    […]
    With Chinese civilization having spent most of the past 1,500 years allocating its positions of national power and influence by examination, there has sometimes been speculation that test-taking ability has become embedded in the Chinese people at the biological as well as cultural level. Yet although there might be an element of truth to this, it hardly seems likely to be significant.
    […]
    The cultural impact of rule by a test-selected elite was enormous, but the direct genetic impact would have been negligible.

    This Social Darwinism selection pressure/priority resulted in a more Patrilineal/Fraternal structure and organization of society in China and most of the rest of the world, than in Europe (which is very unique, not the global/human norm, and WEIRD as already https://www.unz.com/article/the-aryan-ideal-from-ben-franklin-to-national-socialism/?showcomments#comment-5303818 pointed out):
    The First Political Order: How Sex Shapes Governance and National Security Worldwide
    https://www.jstor.org/stable/10.7312/huds19466 or https://archive.ph/O0fdf

    The Patrilineal/Fraternal Syndrome we have described, so ubiquitous throughout recorded human history, is alive and well today. In many nations, reliance on male-bonded kin groups for security remains the norm. Indeed, nations might be placed along a spectrum according to how important this security provision mechanism remains, or as Mark Weiner notes, clan societies “range from stateless societies known as ‘segmentary lineage systems’ to modern societies in which a weak state has difficulty containing the forces of clannism. In some circumstances, they even exist in developed, centralized states.


    Source: https://www.womanstats.org/

  212. Chew Chow says:

    Dr. Hudson, Sir:
    I appreciate you as one of the few economists in the world who have heard about such a thing as the real economy.
    But as I know, the US is killing off the Middle Class for about 100 years now, (both by jobs and offshoring, and physically by depopulation) of especially the White Man’s world, and both, US-Dollar zone and the Euro-Dollar zone. It don’t make no difference now.
    The only way out, at least for the European White Man would be to join the EUAE (Russia/China etc.) zone and let Uncle Sam/Shmuel fuck himself.
    But, of course, the EU don’t have any politicians of integrity. – Lacking a soul they all have sold their ass to Satan/Lucifer/the Lord of Darkness/Baphomet etc.

  213. Ed Case says:
    @mulga mumblebrain

    There are many things that turn my stomach,

    Would covering up mirrors help?

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