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Monday, October 10, 2022

2022-10-10

*** denotes well-worth reading in full at source (even if excerpted extensively here)

Economic and Market Fare:

Roberts: Shock therapy on the world economy

........ Clearly, central banks do not know the causes of rising inflation.  As Fed Chair Jay Powell put it: “We understand better now how little we understand about inflation.”

...... Getting wages down is the answer of the central banks.  But wages are not rising as a share of output; on the contrary it is profit share that has been increasing during and since the pandemic. 











“A portfolio manager at one of Germany’s largest insurance companies said, “It’s a global margin call. I hope we survive.”







The topic du jour across markets and macro in October is the “breakage” discussion. Posed as a question, it’s: “How long before Fed hikes break something?”

The answer, I’ve suggested, is that they’ve already broken something. Several things, in fact. The yen, to name one. And gilts to name another. There will be more casualties before this tightening cycle is complete. The US economy may be among the wounded, if not the deceased ....

It’s safe to say the “breakage” discussion has gone mainstream.

What’s not well understood (so, what’s not mainstream), is why this time is so perilous.....

............ In fairness (and for those who haven’t read or written any peer-reviewed journal articles), I should note that the conclusions are almost always obvious in academic papers. If these sorts of works were movies, you’d know “who did it,” so to speak, during the opening credits. Every, single time. So, the fact that four people did a lot of writing (and even more math) to come to a wholly obvious conclusion isn’t unique to this paper. It’s how this sort of research works.



There were two talks on inflation in recent times by Marc Lavoie and Matias Vernengo on September 16th at the Fields Institute For Research In Mathematical Sciences in Canada.

Both authors highlight the shortcomings of orthodox explanations of the recent spike in inflation: the monetarist argument about expansion of the balance sheet of central banks, wage-price spiral, rise in demand etc. They also critique the argument about firms raising their markups and becoming more greedy, which many on the left seem to be putting forward. In their opinion—which I also agree with—it is mainly because of supply chains.




Quotes of the Week:

Kupperman: I am always reminded that the Fed is full of useless academics, but in the end, it’s a highly political institution and they’ll craft the white papers to justify whatever idiotic course they choose to take.









Charts: 
1:


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(not just) for the ESG crowd:

Kingsmill Bond,  Sam Butler-Sloss: The Energy Transition Narrative




Sackett v. EPA could roll back protections for more than 50 percent of the nation’s wetlands.



Sci Fare:




RIP Fare:




Other Fare:




Pics of the Week:




Contrarian Perspectives

Extra [i.e. Controversial] Fare:

*** denotes well-worth reading in full at source (even if excerpted extensively here)


Krishnamurti: “It is no measure of health to be well adjusted to a profoundly sick society.”


Regular Fare:


My late uncle once told me that there are four kinds of people in the world. 

The gifted who are aware of their gifts, the gifted who are unaware of their gifts, the imbeciles who know of their imbecility, and finally the imbeciles who are unaware of their imbecility.

“Beware of the fourth kind, always,” he warned me as he concluded.

Joe Biden is a perfect illustration of this fourth kind. 

Not only is Biden a dolt who is unaware of his obvious shortcomings, he is also delusional enough to attribute his achievements, which are a consequence of his good fortune, to his nonexistent talent.

Many of his gaffes, prior to his impaired cognitive abilities, were a product of this erroneous overestimation of his abilities, coupled with his arrogance.


Since the 1980s, says Professor Marc Edelman, financial capital has developed imaginative new ways to seize assets from small towns and rural areas.



HAVE YOU NOTICED lately that everything is shit? Things were very shitty the year before last, they became even shittier last year, and now everything is just indescribably shit. As a species, we’ve been stuck with this aspect of the human condition for around 300,000 years. But the question of how to respond to it intellectually and emotionally arises with fresh urgency in each new generation. And in the face of each fresh piece of shit. Traditionally, one role of philosophy has been to aid us in this task. .... The aim of Kieran Setiya’s new book Life Is Hard is to recapture philosophy’s ancient mission of “helping us find our way” in the face of life’s afflictions. ...


Maiden Pharma, the Company Whose Syrup Killed Gambian Children, Is a Habitual Offender



Unsustainability / Climate Fare:




Endemic Fare:

I've continued to come across too much excellent COVID-related content (with contrarian evidence-based points-of-view!!) to link to it all
Read [almost?] everything by eugyppius; el gato malo; Mathew Crawford; Steve Kirsch; Jessica Rose!
Chudov, Lyons-Weiler, Toby Rogers are also go-to mainstays; a list to which I have added Andreas Oehler, Joey Smalley (aka Metatron) and, Julius Ruechel; Denninger worth staying on top of too for his insights, and especially his colorful language; and Norman Fenton; Marc Girardot; plus Walter Chesnut (on twitter); later additions: Sheldon Yakiwchuk & Charles Rixey & Aaron Kheriarty; and newest additions Meryl Nass and the awesome Radagast; and Spartacus is on substack now!!; I will of course continue to post links to key Peter McCullough material, and Geert Vanden Bossche, and Robert Malone, and Martin Kulldorff, and Jay Bhattacharya, and Sucharit Bhakdi, and Pierre Kory, and Harvey Risch, and Michael Yeadon, and John Ioannidis, and Paul Marik, and Tess Lawrie, and Dolores Cahill, and [local prof] Byram Bridle, and Ryan Cole, and... of course Heather Heying and Charles Eisenstein often bring their insight and wisdom to the topic as well... and if Heying's substack isn't enough, she joins her husband Bret Weinstein at their DarkHorse podcast ....
but, in any case, check out those sources directly as I will my linking to material by those mainstays mentioned above will be reduced to key excerpts and/or essential posts


Syed: BOMBSHELL: NSW vaccine reports confirm increased risk of COVID death after booster doses

They can’t hide it any more. I have written previously about how NSW health manipulated their data when the “it reduces infection risk by 95%” became an obvious con (that our public health tsars failed to see). Then it became obvious that even hospitalisations and deaths were not being reduced by the roll out of novel “vaccines” in this article that reminded us that the money follows the influence: ....

So what has happened?

Well, TLDR - nearly everybody dying of COVID-19 (and there are a lot) is either triple, quadruple or multiple-double-mega-booster vaccinated. And I’m going to show why it’s a problem using their own methods of “vaccine effectiveness” calculation. ......

.... When adjusting for exaggerated zero-dose data the vaccine effectiveness to prevent death from COVID-19, using NSW health’s own test-negative methodology, shows a NEGATIVE effectiveness of 143%. That is, the risk of dying of COVID in the 3+ dosed population is over twice that of the population with 2,1, or 0 doses. ....



Tweets & Quotes of the Week:

Smalley: I know the position of other schools in the UK, including my old school and where my children currently go, sheepishly “following the guidelines”. This is symptomatic of the depths that education was already falling to with the disregard for critical thinking and scientific investigation in favour of the blind faith and compliance with instruction from higher “trusted authority”.

Malone: To my mind, every one of these “controversial” positions demonstrate that Joe is precisely the type of medical leader that we so desperately need in these times. But based on my personal experience, what is most remarkable about Dr. Ladapo is his calm, unflappable demeanor and impeccable moral compass in the face of the hurricane of criticism which he has withstood. The contrast to the Federal HHS and global “leaders” is profound. 



CO-VIDs of the Week:

***** Vanden Bossche: It is 5 past 12 !
with transcript

Hello everyone. My name is Geert Vanden Bossche. I'm a seasoned vaccinologist with background in veterinary medicine, in biology, immunology, microbial diseases. I have been sending out video messages before and this is probably the last one I'm going to do. I will still write articles, I will still do interviews.

But this is my last video message. And the reason why I'm sending out this video message is because I can no longer stand it. For me, it has become unbearable to see how our health authorities, our experts and governments are still trying to make people believe that the COVID-19 vaccines are safe and that they will be able to control the pandemic. In this presentation I made a few PowerPoint slides. I will show you that, as I have already been saying in the past, this is an unbelievable blunder. It is an insult to the science. It is unbelievable how scientists can still support this kind of strategy, whereas there is overwhelming evidence that the mass vaccination and the upcoming or updated omicron vaccination will just make things much, much worse. So, this news is sobering, but I have no choice. I have to share it because we have a passion for the truth and we believe that the truth will prevail.

........ So I don't know, I really don't know. Is it stupidity or is it really willful blindness?

................ So if that happens, at that moment we will see that immune escape will cause what we call ‘antibody dependent – (because it's depending on those antibodies)-  enhancement of severe disease’. And that is going to be a real catastrophe. .............



Pushback Fare:




COVID Corporatocracy Fare:

Documents Prove Government Contracted With W.E.F. For (KTDI) Known Traveler Digital ID


What today's "democracies" all have in common is an ever-more-ferocious hatred of the truth, and those intent on telling it
Ontario College of Physicians recommends ‘medication’ and ‘psychotherapy’ to encourage COVID vaccination
'It is also important that physicians work with their patients to manage anxieties related to the vaccine and not enable avoidance behavior.'


Back to Non-Pandemic Fare:

War Fare:


........... The second problem is behind the Kiev terrorists stand Washington terrorists, along with their many and varied vassals in the European Union. The vassals are indeed varied, ranging from Hungary, which has stood its ground, realizing that it can’t survive without Russian energy imports, to France and Germany, which are almost feckless but do try to do as little to help the Ukraine as they can get away with, to Poland, which is rabidly hell-bent on self-destruction and eager to supply all the cannon fodder the Russians can easily destroy. There is also Britain, which is eager to make mischief on the continent just to assure itself that it still exists.

But behind them all stands Washington, which just blew up some pipelines. If the Crimean bridge incident was for Kiev what 9/11 was for Al Qaeda (obvious fakery notwithstanding), then the Nord Stream pipeline incident was the same for the Washingtonians. The problem is that the Washingtonians are nuclear-armed and can’t be put out of their misery without triggering global destruction. Also, the number of hostages the Washingtonians are holding is orders of magnitude larger and the Stockholm Syndrome is much, much stronger. The difference, from the Russian perspective, is that the Washington regime is on the other side of the Atlantic Ocean and, once the US economy collapses, will be easy to ignore. ....










Other Geopolitical Fare:


........... There are many such examples of U.S. treachery, most notably the attacks of September 11, 2001, but such history is only open to those who take it upon themselves to investigate. 

...... If I state two facts: that Donald Trump – whom I consider despicable and part of the divide and conquer game as Biden’s flip side, and have said so – did not start a war against Russia and that Russia-gate was a Democratic propaganda stunt and is false, does that make me a right-winger?  My friend would say so. Do telling facts define your political allegiances, whether they be facts about Republicans or Democrats?

No.  I will tell you what it makes me: A disgusted human being sickened by all the lies and people’s gullibility after decades of evidence that should have awakened them to the truth about all these politicians and the war against Russia underway.  I have lost patience with it.  For decades I have been writing about such propaganda to no avail.  Yes, those who tended to agree with me might have moved a little closer to my arguments, but the vast majority have not budged an iota. .......


The judicial proceedings against Julian Assange give a faux legality to the state persecution of the most important and courageous journalist of our generation.

Merrick Garland and those who work in the Department of Justice are the puppets, not the puppet masters. They are the façade, the fiction, that the longstanding persecution of Julian Assange has something to do with justice. Like the High Court in London, they carry out an elaborate judicial pantomime. They debate arcane legal nuances to distract from the Dickensian farce where a man who has not committed a crime, who is not a U.S. citizen, can be extradited under the Espionage Act and sentenced to life in prison for the most courageous and consequential journalism of our generation.

The engine driving the lynching of Julian is not here on Pennsylvania Avenue. It is in Langley, Virginia, located at a complex we will never be allowed to surround – the Central Intelligence Agency. It is driven by a secretive inner state, one where we do not count in the mad pursuit of empire and ruthless exploitation. Because the machine of this modern leviathan was exposed by Julian and WikiLeaks, the machine demands revenge. 

The United States has undergone a corporate coup d'etat in slow motion. It is no longer a functioning democracy. ......






***** CaitOz Fare ***** :






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