Thursday, October 1, 2020

The Grapes Of Wrath 2020

COVID ended Globalized capitalism. What remains now is nothing more than a gambling casino and a class of people wholly incapable of admitting that their exploitation scheme is over...

Their fatal blindspot is not giving a damn about the people who do the heavy lifting in the real economy. Too distracted by their zero sum Ponzi gains. A biblically fitting way for this all to end. 

The politics of this election become more rancid by the day. Driven by existential fear on both sides. The elephant in the room is America's exceptional wealth inequality that grew to 1929 levels under Trump, and has reached Banana Republican levels during COVID.

So far, unrest during the pandemic has been viewed mainly through a racial inequality lens. Which ironically is what has continued to allow the Casino class to ignore impending disaster. The layoffs to date have mostly impacted minorities in the low wage travel and leisure sectors. Furthermore, most wealthy people take their income from their assets, while most working people take their income from their jobs. This bifurcated inequality has grown lethal under the COVID lockdown and its associated central bank asset bubbles. 

Trump has skillfully tapped into the existential fear of "socialism", and he is using it to maximum advantage. However, ahead of the election, his economic recovery has been shut off by GOP resistance to any further middle class stimulus. The GOP is of the belief that blue states need stimulus far more than red states, so they are putting the national economy on freeze ahead of the election. In doing so, they are putting their entire "system" at risk, merely for perceived short-sighted political gain, all in the name of a fake set of "values". Why stop now?

America's mythological exceptionalism relative to the "socialist" nations has always been its free market economy. Now there are people such as Peter Schiff blaming this economic disaster on socialism. There has been no point in Schiff's entire life when U.S. worker pensions, healthcare benefits, and quality of jobs were lower than they are today. Throughout his entire life, workers have been systematically strip-mined of benefits to increase corporate profits and reduce corporate taxes. And yet he calls this entire process "socialism". He also labels central bank subsidization for the rich "socialism" because he wants to ignore this society's real addiction, which is insatiable greed. A diversionary tactic that works great on the GOP's stable of useful idiots. 

Which is where this all gets interesting.

Capitalism exploded in 2008 and was saved by global central banks. Not just in 2008 - continuously since then as well. It's never been off of life support. Japanification gone global. Japanification refers to an aging society that is incapable of accepting any form of change, and is dependent upon ever greater stimulus gimmicks. These serial monetary bailouts, Trump's profligate tax cut, and the COVID collapse have put the entire capitalist system at dire risk of collapse. And yet somehow the Casino class is STILL blithely ignorant to risk ahead of an existential election.

In summary, all of the GOP's exceptional lies are coming to a head at the worst possible time. When Go Daddy rolls over for the last time, I predict a substantial increase in societal acrimony and with it a substantial increase in con men criminals behind bars. I'm not saying Peter Schiff, but people just like him who spin lies to their own advantage. Too many people in this society now believe they are Donald Trump and can tell any self-interested lie and get away with it. Cheating on your wives and taxes, no big deal. There were no prosecutions emanating from the subprime collapse in 2008, which is why we are now overrun by scam artists.

Nevertheless, when the last Trump Casino implodes, it's at that time when the value of thinking for oneself and accepting facts and data at face value will finally provide their return on investment. For the rest who rely solely upon con men and fairy tales there will be only anger and mass confusion.