We’d like to think that all people have a sense of compassion and fair play, but this isn’t so. Roughly ten percent of all people, in any population, are estimated to have traits associated with narcissism. Roughly four percent are estimated to be sociopathic and one percent are estimated to be psychopathic.
Why not? It’s not yours. Most people assume that, if they have money on deposit in a bank, they own that money. That’s not necessarily the case. Decades ago, some of the world’s most powerful countries began to pass legislation that, if you deposit money in the bank, it becomes the property of the bank. In those countries, if you open a bank account and make a deposit, you sign off legal title to that cash. It becomes an asset of the bank.
Here we have an image from 2008. It records a Zimbabwean, making a visual comment on the fact that, in a matter of months, his country experienced government–driven hyperinflation that left him broke. In July of that year, inflation stood at 3500% per month. In order to cope with hyperinflation, the Zimbabwe government simply printed currency notes in ever-increasing denominations, the highest being one hundred trillion dollars. Yes, that’s $100,000,000,000,000.
In the 2018 US general election, a spate of liberal candidates appeared, seemingly out of nowhere, each making dramatic promises for a more collectivist US. Until the 2016 election, the US hadn’t seen many openly collectivist candidates since before World War II, but since the campaign that gave rise to avowed socialist Bernie Sanders, socialist candidates have appeared in abundance and have become, “the other democrats.” They’re not only plentiful, but unapologetic in their socialist stance. But, why should this be? And, more importantly, where will it lead?
Traditionally, the Democratic Party in the US has placed its primary focus on the protection of the middle class. But, in recent years, it has taken a sharp turn toward racial identity politics, gender issues and redistribution of wealth along socialist lines.
John Kennedy is out; Bernie Sanders is in.
At the end of a long, tiring day, we may choose to treat ourselves to a soothing bubble bath. Surrounded by steaming water and a froth of sweet-smelling bubbles, it’s easy to forget the cares of everyday life. This fact is equally true of economic bubbles. When the markets are up, we’re inclined to feel as though life is rosy. Unfortunately, it does seem to be the norm that investors fail to recognize when a healthy up-market transforms into a dangerous bubble.
For many years, I’ve held the belief that, when World War III was brought on, it would most likely be in the Strait of Hormuz.
The strait is relatively narrow, with a shipping lane of just two miles. It’s bordered on the east by Iran, and on the west by the United Arab Emirates. It’s also the main oil highway for Qatar, Bahrain, Kuwait, Iraq and Saudi Arabia. Since it’s the most critical point for oil distribution in the world and it’s shared by the oil industry’s equivalent of the Hatfields and McCoys, it’s the ideal location for an aggressive nation to start a “rumble.”
All countries have a “shelf-life” of sorts. Generally, they begin when an old, top-heavy government collapses from its own weight. The end of the old regime is characterized by civil unrest, revolution, secession, economic collapse or some combination of these conditions.
Ancient Greece is credited as raising the societal structure to new heights. Whenever this period is referred to, philosophers and historians are quick to mention that the ancient Greeks gave the world Democracy. Yet, Socrates, who is regarded as having been a rather thoughtful fellow, eyed democracy with deep suspicion. He was right to do so.
In 2016, James Delingpole commented that toffs hate Brexit because it’s the Peasants’ Revolt. For non-British readers, the word “toff” is a shortened form of “toffee-nosed,” a slang term for the rich, or upper class. But, more important is the reference to the Peasant Revolt of 1381, which is little-known on the western side of the Atlantic.