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The irony is that the suppression of dissent is the suppression of competing ideas that generate systemic stability via rapid adaptation. Nations that appear stable may fail once they’re under pressure. What do I mean by “under pressure”?

It would be very irritating to have a rally suck in all the bears salivating for a crash from a bear-market rally peak and then decimate the shorts with a rally that soars rather than collapses to new lows. As a contrarian, I’m always squinting at the consensus and wondering if it is really that easy to be right.

Pick one, America: national security of the essential material foundation of everything, the industrial base, or “global markets,” maximizing greed / corporate profits. Sorry about the clickbait title. We all know there isn’t “one solution” to anything as complex as a socio-economic-cultural-political system.

What is “money”? “Money” is a claim on the essentials of life. Ration cards are claims on essentials. Many people expect “money” will soon be tied to commodities. Agreed. It’s called a ration card that grants the holder the right to buy a specific quantity of essential goods at a specified price.

Putting this all together, it’s clear that the source of the current housing bubble is the explosion of financial speculation fueled by central bank policies. Those benefiting from speculative bubbles have powerful incentives to deny the bubble can bust.

It’s very difficult to find common ground that supports cooperation in the disintegrative stage of scarcities, rising prices, catastrophically centralized power and social discord.

The mercantilist dependence on exports for growth, a winner for the past 70 years, has reached diminishing returns. Rather than be a source of growth, it’s a source of stagnation. Conventional wisdom holds that geopolitical power is inevitably shifting from West to East. It isn’t quite this simple.

It’s time to reprogram the conditions of the economy to serve the many rather than the few. Star Trek’s Kobayashi Maru training exercise tests officer candidates’ response to a no-win scenario: any attempt to rescue the crippled ship’s crew results in the destruction of the candidate’s ship, while standing by and taking no action results in the loss of the Kobayashi Maru’s crew.

Every forecast or guess has one refreshing quality: one will be right and the rest will be wrong. What’s the difference between a forecast< and a guess? On one level, the answer is "none": the future is unknown and even the most informed forecast is still a guess.

The economy has reached an inflection point where everything that is unsustainable finally starts unraveling.Our economy is in a crisis that’s been brewing for decades. The Chinese characters for the English word are famously–and incorrectly–translated as danger and opportunity.

There would be some deliciously karmic justice in the “dumb money” driving a rally that forced the “smart money” to cover their shorts and chase the rally that shouldn’t even be happening. Being cursed with contrarianism, as soon as a trade gets crowded and the consensus is one way, I start looking for whatever is considered so unlikely that it’s essentially “impossible.”

Workers are voting with their feet, and that’s difficult to control. When values and expectations change, everything else eventually changes, too. What happens when the workforce no longer wants to work? We’re about to find out.

Every individual and entity seeking to maximize their private gain by prostituting themselves to the government is, well, prostituting themselves to the government. The free-money PPP “loan” obtained by a prostitute frequented by Hunter Biden offers a vividly teachable insight into American capitalism:

If there was only one causal factor nudging the economy into recession, it might be a mild, brief recession. But with all five conditions in confluence, this recession will be unlike any other. Recessions reliably arise from the confluence of these conditions. Note that any one condition can trigger a recession, but no one condition guarantees a recession. Severe, long-lasting recessions occur when multiple conditions arise at the same time.

For everyone left out of the Fed’s hyper-financialized, hyper-globalized, hyper-inequality “new prosperity,” there’s always the bargain salmon cassarole. The latest issue of New Prosperity Magazine addresses the Fed’s “Goldilocks” inflation and the coming crack-up boom.

The more kafkaesque quagmires you’ve slogged through, the more you hope “pay-to-play for the rest of us” becomes ubiquitous. You know how “pay-to-play” works: contribute a couple of million dollars to key political players, and then get your tax break, subsidy, no-bid contract, etc., slipped into some nook or cranny of the legislative process that few (if any) will notice because the legislation is hundreds of pages long or a “gut and replace” magic wand was wielded at the last minute.