Addicted to Dollars
A Nearby Terror Attack in London
By George Friedman
Such events force us to think of how close we came to being in the wrong place at the wrong time.
My wife and I are in London this week, and we have spent the last few days enjoying the city.
Yesterday, at about 2 p.m. London time, we thought we would take a walk to the Imperial War Museum. Our hotel is on the corner of Hyde Park, and the museum is across the Thames. We debated whether to go by Parliament over the Westminster Bridge, across the Lambeth Bridge directly to the museum or take a cab. It was chilly, so we took a cab. We thereby avoided a likely encounter with danger. At the same time we were planning our outing, a man was planning what could well have been our death.
The purpose of terror is to force each of us to think that there, but for the grace of God (or the temperature), go I. The night before we had gone to a play in the West End. People crowded the streets. That could have been the place where a car sweeping the sidewalk could have killed many, including us. Tonight, we are going to a concert at the Barbican Centre. There will be crowds. Now I wonder whether someone is planning an attack there too. I’m writing this on Thursday afternoon in London, so by tomorrow we will know.
Police officers stand guard by a cordon around Parliament on March 23, 2017 in London, England. Jack Taylor/Getty Images
Terrorism is a game of probabilities. The probability of any one of us being in the wrong place at the wrong time is very low. But terrorism creates an intimacy between terror and us. It causes us to think of where we were at the time of an attack and how close we came to being in the wrong place at the wrong time. Its power is contained in the possibility that the plans of someone unknown to us intersect with our own plans. In the military, they speak of force multipliers. This is the force multiplier of the Islamic terrorist: He compels you to be aware of his power over you. It is his decision whether some will die. I have taken risks in my life, but this is different. Terrorists want to cause a kind of fear that compels you to think of what might have been on an afternoon intended for pleasure.
This has not become corrosive to everyday life yet. It is a quantitative matter. The fewer the attacks, the lower the probability that they will affect you. The higher the number of attacks – even if they are still few – the greater the perception and reality of danger. And as a result, more people are forced to adjust their lives.
Terrorists try to use minimal strength to crush the morale of their enemies. Terrorists are few in number, which is necessary by the covert nature of their activity. The more there are who know each other, the more likely they will be betrayed. And the lone wolf attacker is the least likely to be caught before the attack. The Islamic State and related groups have crafted the most effective form of terror.
They have asked individuals to act with few, if any, collaborators, and to strike without warning, using equipment at hand: a car or a knife. The intent is to let everyone know that their lives are in the hands of invisible enemies. Even though we are not likely to be victims of terrorism, after each attack we are forced to think, “What if I had made a different decision?” In time, each of us will brush up against the possibility. Indeed, my wife and I had spoken, on the way to Covent Garden, of how we would hear screams before we saw an attacking car, and what we might do to save ourselves.
This is the real strength behind IS’ strategy. The lone wolf attack by Muslims is relatively rare. But knowing that Muslims are carrying out such attacks in unpredictable times and that no one can really detect the intentions of others, we wonder what the intent of any Muslims we meet might be after an attack like the one in London. Will he be the agent of our death? The brilliance of this strategy is that it drives a wedge between the Muslim world and the rest. The Muslims are feared, in turn treated unjustly, and the conflict intensifies.
The usual bromide is that we should not take counsel of our fear. I have no idea what that is supposed to mean. Does it mean that I should not dwell on the fact that, by chance, I avoided being caught up in the incident? Does it mean that I should ignore the fact that attacks likely will not be carried out by Swedish grandmothers, but more likely by Muslim males under the age of 30? Should I pretend that this is not a movement of Muslims, by telling myself that most Muslims would not do this? I can’t ignore the fact that some would do this, and that one brushed lightly by our lives on Wednesday. Of course, I should take counsel of my fears. My fears are real and reasonable, and the demand that I should not be afraid is unreasonable.
At the same time, if I take the position that all Muslims are killers, we dramatically increase the chance that the enemy – those Muslims who would kill on a chilly Wednesday afternoon in London – will win. There are 1.6 billion Muslims, and if all were willing to do what the man on Westminster Bridge did, our civilization would be, if not transformed into a nightmare, then constantly afraid. It is the solemn hope of IS that we treat all Muslims as terrorists, to bind together the Islamic world under the jihadist banner.
Some will say that terrorism should not be viewed as Islamic. At this point in history, that is an incomprehensible position. Some will say that all Muslims are potential enemies. That is a prescription for an endless war Euro-American civilization might well lose. In dealing with an enemy, dividing them is the only viable strategy, and the Islamic world already has deep divisions. Muslims are not all alike, and some are hostile to others.
In this, as in all wars, realism and prudence are required. The attacks are part of a movement of Muslims whose numbers are substantial but far from encompassing all of Islam. Our allies must be those Muslims who oppose this movement. Just as the key to undermining communism was the American understanding with communist China, so the key here is allying with Muslim enemies of radical jihadism. If none exist, we will be in trouble. But there are many. However, to apply this strategy, we must admit that this is a war with Muslims. Not all perhaps, but many. As long as we are oblivious to the fact that we are at war with Muslims, the situation is hopeless. As long as we are oblivious to the fact that many Muslims hate the jihadists, we have no strategy. And we must remember that many of the enemies of jihadism do not like us much, either. But as with the communist Chinese, the enemy of my enemy is my friend.
It is odd that a late winter walk in London should end in these thoughts. But then it was Winston Churchill who said, “If Hitler invaded hell I would at least make a favorable reference to the devil in the House of Commons.” Some in England said Germany should not be confused with Nazism. Others said all Germans should be annihilated. Churchill regarded the first statement as fatuous and the second as brutishly stupid.
In the meantime, we are in a strange but real war, and a walk in Covent Garden now must involve a discussion of what to do if death approaches.
What The Hell is Going On?
By: The Burning Platform
"The older I grow, the more I distrust the familiar doctrine that age brings wisdom."
"The older I get the less I listen to what people say and the more I look at what they do."
I'm 53 years old. The older I get the less sure I am about things I was sure about when I was 25 years old. I believed stocks for the long run was an unquestioned truth. I believed our economy was based on free market capitalism. I believed stock prices were based upon profits and cash flows. I believed a home was a place to live - not an investment. I believed the Catholic Church was run by good men doing good things. I believed journalists and the media were watchdogs working on behalf of the public. I believed our military was protecting our interests. I believed politicians legislated on behalf of the people. I believed the main purpose of bankers was to loan money to businesses and consumers in order to support economic growth. Boy, was I dumbass.
My skeptical nature, reliance on data I've personally vetted, and judging our leaders based on what they have done versus what they say, has allowed me to escape the Matrix. I wasn't truly awakened until I watched Bush, Cheney, Powell, the rest of the neo-con prevaricators and fake news mainstream media utilize propaganda to railroad Americans into a $6 trillion unnecessary war, resulting in 36,000 American casualties, the destruction of a country and the creation of thousands of new Muslim terrorists.
I've spent the last fourteen years pushing back against the establishment narrative, documenting the fake data published by government apparatchiks, and trying to open the eyes of as many people as possible to the propaganda utilized by the Deep State to keep the ignorant masses dazed, confused and distracted. The country is in deep trouble because what the majority believe regarding the economy, politics, religion, and culture just ain't so.
"What gets us into trouble is not what we don't know. It's what we know for sure that just ain't so." - Mark TwainSince the start of this year I've found myself in a mental funk. I'm tired of the lies. I'm tired of incessant media propaganda. I'm tired of politicians. I'm tired of economic experts. I'm tired of hucksters touting their "the end is near" tale to sell me something. I'm tired of faux mainstream media journalists and their whining about Trump being mean and threatening the First Amendment.
They don't know jack about the First Amendment, as they work for one of the six media conglomerates whose job it is to produce fake news supporting whatever narrative keeps their Deep State benefactors in power. Regurgitating lines written for them by corporate propagandists is not journalism and has absolutely no relationship to the First Amendment.
Over the last decade the only place to find some truth has been the alternative media thriving on the uncensored internet. That's why the establishment wants to regulate the internet.
The fake news blitz by a Deep State, flailing about trying to retain their power and wealth, has reached frantic proportions. The left wingers, egged on by Obama and funded by Soros, hold increasingly inane protests with themes like: wear a vagina hat to support feminazis; hug an illegal immigrant; everyone I hate is a Nazi; and women take another day off and no one notices. The traitorous neo-con warmongers like McCain, Graham, and Kristol see their enormously profitable never ending global conflict agenda at risk. The military industrial complex needs enemies. The left wingers and neo-cons have joined forces to utilize the fake Russian election intervention propaganda in a last ditch desperate attempt to derail the Trump presidency before it starts.
The relentlessness, bitterness, and blatant disregard for the truth exhibited by Trump's vast array of opponents have made TV virtually unwatchable. I've found myself mentally checking out. Why waste mental energy debating hacks, mental midgets and paid trolls for the establishment? After spending years obliterating fake government statistics on a daily basis, I find continuing to do so is just mental masturbation with no ultimate satisfaction. Confronting left wingers and neo-cons is like wresting with a pig, you both get dirty and the pig likes it.
I've always been an observer. I've been observing how certain both sides are regarding their positions on illegal immigration, Muslims, Russia, Obamacare, Supreme Court nominees, executive orders, jobs, taxes, climate change, school choice, oil pipelines the First Amendment, Second Amendment, the rule of law, and the Bill of Rights. I find it exhausting. We're lost in a blizzard of lies. I'm not certain about anything. I will remain skeptical of everything uttered by all politicians, all government bureaucrats, all corporate executives, all central bankers, all media pundits, all religious leaders, all corporate paid journalists and especially Wall Street shysters.
"Moral certainty is always a sign of cultural inferiority. The more uncivilized the man, the surer he is that he knows precisely what is right and what is wrong. All human progress, even in morals, has been the work of men who have doubted the current moral values, not of men who have whooped them up and tried to enforce them. The truly civilized man is always skeptical and tolerant, in this field as in all others. His culture is based on "I am not too sure." - H.L. MenckenThe dissonance between what I have been observing and what is being flogged by the establishment mouthpieces in the corporate mainstream media has never been greater. Some of my observations are anecdotal, others are based on real unadulterated truthful data, a few are based on simple common sense and the rest are based on my understanding of what happens during Fourth Turnings.
When you understand the cyclical nature of history you are not surprised when events lead to reactions among the masses which take the linear thinking status quo by complete surprise. The 2008 global financial implosion and the subsequent election of Donald J. Trump by the deplorable white silent majority completely blindsided the oblivious establishment, but were entirely predictable if you had studied previous Fourth Turnings throughout history.
I've been making a horrific sixty mile round trip commute into Philly for the last ten years. The average daily commute has been about two hours, as the entire route has been under some sort of construction for the entire decade. A fantastic one way commute is forty five minutes. I regularly have ninety minute commutes, and I've experienced a few which breached the two hour mark. It became immediately evident to me something changed as this new year got under way. My morning and evening commute has been consistently in the forty-five minute range for the last two months. There are less cars and trucks on the road. The question is why?
This only happened once before over the last decade - during the 2008/2009 recession. In a shocking correlation (especially for brain dead tax and spend liberals), when there are less jobs, there are less drivers on the roads going to work. I tried to think of other reasonable explanations for why traffic appeared to be contracting so dramatically. But lo and behold, certain data can't be easily manipulated by the government. Gasoline demand is plunging, with the year over year trend crashing to levels last experienced during the 2001 recession. Gasoline demand was higher during the 2008/2009 crisis.
Demand was higher when oil was over $100 per barrel. Based on this crash in gasoline demand, Goldman Sachs issued a report saying we should be in a recession.
Total miles driven are dramatically slowing down. It's not because of electric cars or fuel efficiency, as the vast majority of the 17.5 million vehicles being hawked to the math challenged driving public (using low payment leases and six year 0% loans) are pickups, SUVs, or luxury sedans. The Fed induced and subprime debt fueled frenzy of vehicle sales (aka long - term rentals) has seen vehicle sales skyrocket from 10 million in 2010 to an all-time high above 17.5 million in 2016, while auto loan debt has soared from $700 billion to over $1.1 trillion during this same time frame. The truthfulness of the 17.5 million sales number may be in question, as dealer lots are stuffed with record levels of inventory. With a record number of cars in the hands of consumers, how could gasoline usage and miles driven crash?
More questions emerge to those with critical thinking skills. If the unemployment rate is really 4.8%, how could 40% of the employable population (102 million) not be working? This explains the lack of cars on the road during my commute. Obama and his minions jabber about the tremendous jobs recovery during his reign of error. In 2007 there were 122 million full-time workers among a working age population of 233 million, or 52.3%. After Obama's eight year economic "recovery", there are 125 million full-time workers among a working age population of 254 million, or 49.2%.
We've added 3 million full-time jobs in the last 9 years, and the captured mainstream media touts this as a success story. The deceitfulness - it burns. When 125 million full-time workers, of which 22 million are non-producing government drones, have to support 102 million non-working Americans, most living on the dole, you have a financially unsustainable paradigm.
Trump's slogan should be Make Americans Get Off Their Fat Asses and Work Again.
The explanation for the plunge in gasoline demand and miles driven is quite simple if you haven't drunk the mainstream media kool-aid about the fantastic economy, low unemployment, and soaring consumer confidence. Americans drive their vehicles to work, to shop, and to eat out. Truckers are the backbone of our just in time big box retail society. If Americans are driving less, there are less people with jobs, less spending at bricks and mortar retailers, and less eating out.
If truckers are logging less miles, retailers are ordering less inventory, manufacturers are selling less widgets, and the economy is contracting. The entire economic improvement narrative is based on soft data about feelings from consumer confidence surveys and dozens of other easily manipulated surveys. Propagandists are experts at convincing clueless dolts it's raining when their government is actually pissing down their backs.
Despite government reports about expanding retail sales and strong holiday sales, real info from real retailers tells the true story. Major retailers have announced 1,500 store closings in the first two months of 2017, including:
- JC Penney - 140 stores
- Sears - 150 stores
- Macy's - 68 stores
- HHGregg - 88 stores
- The Limited - 250 stores
- Abercrombie & Fitch - 60 stores
- Wet Seal - 171 stores
- CVS - 70 stores
Kohl's, Target, Macy's, Sears, and dozens of other retailers reported awful holiday sales. Wal-Mart was lauded for generating a 1% comparable store sales increase. There is virtually no store expansion by large retail chains. During the 2000 to 2007 period these chains were each opening hundreds of new stores per year. We are in the midst of a long term retail contraction which is just picking up steam.
The closure of these stores combined with rising interest rates are a toxic concoction for real estate mall developers. The Fed allowed them to extend and pretend for the last eight years.
The jig is up. A wave of retail and mall bankruptcies is baked in the cake. The government reported retail sales growth is driven by Fed induced auto sales (leases and loans), home furnishing sales financed at 0% over five years, building materials stores offering 0% financing, Amazon and until recently restaurant and bar sales.
Since I don't go into malls or many retail establishments, and rarely eat at chain restaurants, my observations of retail and restaurant traffic are based on how full their parking lots are at peak hours.
When the economy was in bubble mode prior to 2008, mall parking lots were jammed and you had a ninety minute Â wait to get a seat at Outback or Olive Garden. Today, you can get a parking spot at a big box retailer near the front door on a Saturday afternoon.
Malls are ghost towns, with Space Available as the hot new location. Except for peak dinner time on a Friday or Saturday (if then) there are no longer long waits to get a table at one of the struggling chain restaurants. We reached peak retail and peak overpriced restaurants a few years ago. The downward spiral, due to demographics, declining real income, and over-saturation, is irreversible.
As usual, with propaganda distributed by the government or industry organizations, they present a positive restaurant performance index based on false hope and delusional expectations. Restaurant chains like Applebees, Outback, Ruby Tuesday, Chilis, Buffalo Wild Wings and many other major chains have been reporting declining same restaurant sales. Industry comparable restaurant sales are lower than two years ago.
Outback's parent company announced it will close more thanÂ four dozen locations ofÂ Outback Steakhouse, Bonefish Grill, Carrabba's Italian Grill and Fleming's Prime Steakhouse. Ruby Tuesday is closing 100 locations. Despite government reports showing strong restaurant sales over the last eight years, annual traffic to U.S. restaurants has been flat or up just 1% since 2009, when there was a 2% drop in the wake of the Fed created financial crisis.
The "increase" in sales was generated by price increases of 2% to 3% per year. Now these chains are paying the price for high prices, shitty food, and poor service from their college graduate millennial staff. With higher taxes, soaring Obamacare costs, student loan and auto loan debt up to their eyeballs, and low paying service jobs as their career, even clueless millennials have gotten a clue - they don't have the money to eat out four times per week.
Anyone with an ounce of common sense knows the majority of Americans have fallen further behind since 2009, with only the establishment and those leaching off the establishment profiting from the suffering of senior citizens and the former middle class. When real personal spending plummets at the highest rate since 2009, you just might be in the midst of a recession.
As consumer confidence surveys, ISM surveys and Fed surveys provide fake news about consumer and corporate feelings about a glorious future, the hard data tells the truth. How could households feel confident when real median household income fell by $558 in December and is down by $529 year over year? How could Obama and his lapdogs in the mainstream media pontificate about the record economic recovery when real median income is 2% lower than it was nine years ago?
How can anyone deny the average American household has been experiencing a depression since 2000, when real median household income is lower today than it was at the turn of the century? Do you think the lack of income growth over the last 17 years may have played a part in the deplorables electing Trump in November?
The corporate fake news media will continue to produce the false narrative as directed by their Deep State employers. The credibility of journalists can be summed up in two pithy sentences by Hunter S. Thompson.
"The press is a gang of cruel faggots. Journalism is not a profession or a trade. It is a cheap catch-all for fuckoffs and misfitsâ€”a false doorway to the backside of life, a filthy piss-ridden little hole nailed off by the building inspector, but just deep enough for a wino to curl up from the sidewalk and masturbate like a chimp in a zoo-cage." - Hunter S. Thompson - Fear and Loathing in Las VegasIn Part Two of this article I'll show how the Deep State/establishment/ruling class/status quo have utilized their mastery of propaganda techniques to convince the masses inflation and debt are beneficial to their interests and why Trump's election is the pushback by a citizenry who are beginning to awake and are mad as hell.
Eton Park to Shut Down as $3 Trillion Hedge Fund Industry Faces Turmoil
By MATTHEW GOLDSTEIN
The Dawn Of The New Financial Age With Bitcoin
by: Shikha Kothari
- Finding hope in decentralized currency when both investors and non-investors loses hope in the centralized banking system.
- The impact on prices of Bitcoin with regards to Fed increasing the interest rates, EFT getting approved and Venezuela sovereign debt.
Les doy cordialmente la bienvenida a este Blog informativo con artículos, análisis y comentarios de publicaciones especializadas y especialmente seleccionadas, principalmente sobre temas económicos, financieros y políticos de actualidad, que esperamos y deseamos, sean de su máximo interés, utilidad y conveniencia.
Pensamos que solo comprendiendo cabalmente el presente, es que podemos proyectarnos acertadamente hacia el futuro.
Gonzalo Raffo de Lavalle
Las convicciones son mas peligrosos enemigos de la verdad que las mentiras.
Quien conoce su ignorancia revela la mas profunda sabiduría. Quien ignora su ignorancia vive en la mas profunda ilusión.
“There are decades when nothing happens and there are weeks when decades happen.”
Vladimir Ilyich Lenin
You only find out who is swimming naked when the tide goes out.
No soy alguien que sabe, sino alguien que busca.
Only Gold is money. Everything else is debt.
Las grandes almas tienen voluntades; las débiles tan solo deseos.
Quien no lo ha dado todo no ha dado nada.
History repeats itself, first as tragedy, second as farce.
We are travelers on a cosmic journey, stardust, swirling and dancing in the eddies and whirlpools of infinity. Life is eternal. We have stopped for a moment to encounter each other, to meet, to love, to share.This is a precious moment. It is a little parenthesis in eternity.
Archivo del blog
- ADDICTED TO DOLLARS / PROJECT SYNDICATE
- A NEARBY ATTACK IN LONDON / GEOPOLITICAL FUTURES
- WHAT THE HELL IS GOING ON? / THE BURNING PLATFORM
- ETON PARK TO SHUT DOWN AS $3 TRILLION HEDGE FUND I...
- THE DAWN OF THE NEW FINANCIAL AGE WITH BITCOIN / S...
- AMERICANS ARE RICHER THAN EVER, BUT THEY DON´T FEE...
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