THE KNEE ON
But there have been no arrests. No perp walks. No trials. No demonstrations. No window breaking and no looting. The average man knows nothing about it. And who would tell him? Wall Street? The president? The Fed? The press? Instead, he is told that the geniuses at the Fed are doing their best to “stimulate” the economy. And both sides – Democrat and Republican, the New York Times and Fox News – support the counterfeiting rip-off. They want to keep it going as long as possible. And for the moment, the feds can pass out trillions of dollars – to their crony friends and to the voters – with no apparent downside. Get it while you can. Millennials, Blacks, Whites, the middle classes, as well as the poor – all have been cheated in a way... LOST DECADE AHEAD Our guess is that they are going to pass out a lot more. Here’s CNN with a report on a “lost decade” ahead: The CBO [Congressional Budget Office] warns in a new analysis that the pandemic will reduce cumulative economic output over the next 10 years by $7.9 trillion, or 3% of GDP during the decade, compared to its projections from January. Without accounting for inflation, the damage totals
$15.7 trillion, or 5.3% of GDP. Recent legislation, which includes more than $2 trillion in stimulus, will only partially mitigate the economic fallout caused by the pandemic, the CBO said. Lost decade? What can the feds do, but print up some more money? And who will suffer most? Guess what... the same people that the feds have been ripping off for the last 10 to 20 years! The young, the poor, the uneducated. The George Floyds of America. The Washington Post looks at just one segment: After accounting for the present crisis, the average millennial has experienced slower economic growth since entering the workforce than any other generation in U.S. history. Millennials will bear these economic scars the rest of their lives, in the form of lower earnings, lower wealth and delayed milestones, such as homeownership. Naturally, the Post has no idea what is really going on and no interest in finding out why. It merely observes that young people are getting screwed. “The unluckiest generation,” it calls them. They have more debt than any previous generation (not even including their share of the “national” debt). They have fewer good jobs... lower earnings... and are unlikely to ever catch up to their parents in terms of wealth.
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June 2020
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