In The News Today

Posted at 8:07 AM (CST) by & filed under In The News.

You Think It’s All About Guns?
May 21, 2018

Is it possible that we Americans only pretend not to notice the conditions that produce an epidemic of school shootings, or is the public just too dumbed-down to connect the dots?

Look at the schools themselves. We called them “facilities” because they hardly qualify as buildings: sprawling, one-story, tilt-up, flat-roofed boxes isolated among the parking lagoons out on the six-lane highway strip, disconnected from anything civic, isolated archipelagoes where inchoate teenage emotion festers and rules while the few adults on the scene are regarded as impotent clowns representing a bewildering clown culture wrapped in a Potemkin economy that has nothing to offer young people except a lifetime of debt and “bullshit jobs” — to borrow a phrase from David Graeber.

The world of teens has been exquisitely engineered to steal every opportunity for colonizing the chemical reward centers of their brains to provoke endorphin hits, especially the cell-phone realm of social media, which is almost entirely about status competition, much of which revolves around the wild hormonal promptings of teen sexual development — at the same time they are bombarded with commercial messages designed to prey on their fantasies, longings, and perceived inadequacies. All of this produces immersive and incessant melodrama along with untold grievance, envy, frustration, confusion, and rage. And, of course, where the cell-phone universe leaves off, the world of video games begins, so that boys (especially) get to act-out in “play” the extermination of their competitors and foes.


Faking GDP Growth: In The US And Elsewhere
May 25, 2018

Structural factors make low economic growth a virtual certainty in the US and most other developed countries. But that doesn’t stop governments from trying to fake GDP growth. There’s no way out of the quagmire, so governments will continue to borrow and spend…until the end.

Unless you’ve been living in a cave, it should be no surprise to you that the world’s centres of economic wealth and power are rapidly shifting. Old powers are finding themselves squeezed off the world stage, as new powers make their grand entrances.

In the case of the US, its share of the global economy peaked some time around 1950. That was due both to US economic strength, but also the devastation left in Europe and Asia after the second world war.

On the other hand, by my reckoning, US geopolitical power reached its zenith much later, in the early 1990s. That was right after the Soviet Union fell apart…when Russia was an economic basket case…before the EU started its big expansion…just as Japan’s economic bubble started to implode…and when China still had a relatively small economy.


US has largest debt in world history, dollar to lose status as No.1 currency – Jim Rogers
May 24, 2018

 The US dollar is becoming less appealing for investors as American debt continues to soar and the greenback is printed to cover it, investor Jim Rogers said at the St. Petersburg International Economic Forum (SPIEF).“Dollar is going to be higher than now because the turmoil is coming. Then, it is going to be overpriced and people will look around and say, ‘America’s got the largest debt in the history of the world. It’s printing money as fast as it can,’” the investor said.

People will look at what Brazil, Russia, China, India, Iran and other developing countries are doing, Rogers said. “They are forming a competing currency right now,” he added. So, the dollar alternative will come from the countries that “have been bossed by the US, and they don’t like it, but have enough power to do something about it.”

The American currency will lose the status of main reserve currency much sooner than 2030, Rogers said at the Valdai Club’s discussion session, held as part of SPIEF.