Odds are rising the “hot word” of 2022 will be “NSNW.” As if Covid 19 was not enough of a context scapegoat for financial markets, the odds are seen growing that the “next step” along the path will be war. Possibly of the NSNW sort.
Interventionist Capitalism’s run may be ending sooner than we think: Bailing Out “TBTF” sowed the future with unsupportable debt.
Wars and Depressions are the mechanisms by which debt (and savings) are repudiated.
Today we need a scapegoat that will be more effective than an escaped bioweapon which broke out “accidentally” – or did it?
The drive to scapegoating is simple: People in power only remain there so long as they do genuinely good works on behalf of the Wee People. Or, so long as they hold us in a moderate grip of terror. Failing “good works” a firmer grip on terror is the easier path. One that may be in play right now.
When you examine why you hand over 10-30% tribute from your earnings to the central government, do you have any sense it’s “Because of all the Great Works they Do for The People?“
Our End was sealed when government benefits became taxable. Happened in 1983 when (the vastly over-rated) Ronald Reagan pushed the once Social Security Trust Fund into the government’s general fund. And the crooks of both blasphemous parties began taxing benefits.
Today, we look at how 2022 could become War Year 1 – the first of what shapes up as a generation-long descent into economic hell. Something echoing the collapse of Rome.
The replay of Rome’s decline will be imprecise, at best. You may remember it got rocking and rolling in 376 AD when a huge onslaught of Goths, fleeing the Huns, fled south. A hundred years of fighting and misery later, call it 476, the barbaric German king Odoacer polished off the Western Empire.
The good news, such as it is? We won’t take so long. Because our collapse shapes up as far more brutal and much quicker. Fall of Rome On Internet Time. Ain’t that some progress, huh?
First, a few seasonal headlines and the ChartPack. Because what happens next is sometimes telegraphed in advance by the markets.
Which we will be actively shorting as we see the signs and storm clouds gather. Happily ever after will become an historic mirage…