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The only realistic Plan B is a fundamental, permanent re-ordering of the cost structure of the entire U.S. economy.The fantasy of a V-shaped recovery has evaporated, and expectations for a W or L-shaped recovery are increasingly untenable. So forg…

Once you allow your economy to become dependent on extremes of debt, leverage, inequality, legalized looting, monopoly, pay-to-play politics and speculative asset bubbles, a depression is inevitable.The pandemic lockdown will be blamed for the Gre…

In the false religion of data, heresy is asking for data that is not being collected because it might reveal unpalatably unprofitable realities.Here’s how every modern con starts: let’s look at the data. Every modern con starts with an earnes…

The last shred of power the elites hold is the belief of the masses that the elites are still in control.I understand the natural desire to believe somebody’s in charge: whether it’s the Deep State, the Chinese Communist Party, the Kremlin or Agen…

You thought that monkey on your back was light as a feather, but now it transmogrified overnight into a crushing gorilla.Dear junkies addicted to the Federal Reserve’s free-money smack: like all addicts, you firmly believe you’re not addicted.&nbs…

They’re hoping the endless circuses and trails of bread crumbs will forever distract us from their plunder and the inequalities built into America’s financial system..The primary story of the past 20 years is the already-rich have gotten much richer, w…

Here’s the thing about gambling: risk cannot be made to disappear, it can only be transferred to others.Those taking seats at the gaming tables in the Federal Reserve’s casino believe that they can’t lose. Or more precisely, any losses they suffer…

The Fed has backed itself not into a corner but to the edge of a precipice.Though the Federal Reserve never stated its Grand Bargain explicitly, their actions have spoken louder than their predictably self-serving, obfuscatory public pronouncements.&nb…

So what do we know with any sort of certainty about the claim that “the pandemic is over”? Very little.Is the pandemic over in China, Europe, Japan and the U.S./Canada? Is the much-anticipated V-Shaped economic recovery already baked in, i.e. already g…

Ours is a Wile E. Coyote economy, and now we’re hanging in mid-air, realizing there is nothing solid beneath our feet.The story we’re told about how our “capitalist” economy works is outdated. The story goes like this: companies produce goods and …

We are entering The Greatest Depression because there is no exit.I’ve endeavored to explain why The Greatest Depression is unstoppable in recent posts:The Covid-19 Dominoes Fall: The World Is Insolvent March 16, 2020Pandemic Pandemonium: The Tides…

Come on, Jay, you can always goose stocks back to new highs after the election.Indulge me for a moment in some backroom speculation. It’s absurdly obvious that the unelected, permanent, ever-expanding National Security State, a.k.a the Deep State,…

The global crisis is not merely economic; it is the result of profound financial, sociological and political trends described by Marx, Kafka, Orwell and Huxley.The unfolding global crisis is best understood as the convergence of the dynamics described …