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Doug Casey On What Happens When The Suspension On Evictions Ends

Doug Casey On What Happens When The Suspension On Evictions Ends
Tyler Durden
Mon, 12/14/2020 – 19:00

Via InternationalMan.com,

International Man: Earlier this year, CDC was able to extend its powers unprecedentedly by issuing a nationwide..

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Doug Casey On What Happens When The Suspension On Evictions Ends Tyler Durden Mon, 12/14/2020 - 19:00

Via InternationalMan.com,

International Man: Earlier this year, CDC was able to extend its powers unprecedentedly by issuing a nationwide suspension on evictions.

What’s your take on how a public health agency grew to be in the position of telling property owners what they can do on their properties?

Doug Casey: Health paranoia is an excellent method of control. People put their health above almost everything. I’m only surprised it hasn’t been used as a lever up until now. It’s part of a trend toward mass control that has started in earnest early in the 20th century and has been increasing exponentially over time.

First was the income tax. If you didn’t comply, it was not only seen as a legal crime but also promoted as a moral sin. The prohibition of liquor from 1919 to 1933 got under way as a moral failing and then was turned into a crime. It’s the same with the prohibition of some drugs; Nixon started that hysteria in 1971, and it was put on steroids, so to speak, by Nancy Reagan. Next came the war on terror, especially since 2001. These were all promoted with both legal and moral taboos. Everybody is supposed to line up with them shoulder to shoulder, like in one of those old socialist realism propaganda posters the Soviets and the Nazis specialized in. The public is supposed to self-police under the supervision of the authorities, like they did in Salem in 1692.

Public health is the current impetus for mass hysteria and paranoia. All of these things impinge upon your right to ownership of private property, including your own body, which is the primary form of property. The public health angle is potentially the most dangerous and invasive one from the viewpoint of freedom. Busybodies—the type of people who work for and actively support the State—always need an excuse to control others en masse. This pandemic provides an excellent template for the future.

Wearing a mask—whether or not you want to or think it helps—isn’t just about virtue signaling. It also shows whether you’re willing to do as you’re told—whether you’re “politically reliable”, as the communists like to say. It’s like wearing the Party’s armband.

In fact, wearing a mask and social distancing in stores, bars, restaurants, and gymnasiums shouldn’t be up to the government. It should be strictly up to the property owner. Decisions that the individual makes regarding his own health are his own; it’s between the individual and his doctor.

I have no problem if the owner of a bar or restaurant wants to keep me out if I’m not wearing a mask. It’s his property. He makes the rules. I can go elsewhere, where it suits me better. It’s an affront and an imposition on restaurateurs and storekeepers to be told what they and their guests can and cannot do.

This isn’t, incidentally, about a technical or medical problem. The value of wearing masks, social distancing, and obeying quarantines and lockdowns is questionable at best, as Sweden has shown. The real problem is ethical and that there’s no moral pushback from either the public or the property owners. People are arguing on strictly technical grounds: “Yes, you have a right to tell me what to do, and even close my business. But you shouldn’t because it’s not ‘fair’, or your solutions aren’t optimal”. They accept the busybody’s premises. The argument is over before it even begins. Americans are truly acting like whipped dogs.

Whether the masks, distancing, and the rest of it work or not, isn’t the point. My own belief is they’re at best of marginal value and may well be counterproductive. But that’s beside the point. The point is that it’s immoral and destructive for the State to tell people how to relate to each other.

As for the CDC, it’s just another government bureaucracy concerned with putting itself in the limelight, gaining more power, enhancing its budget, and the number of its employees—and making Fauci, a lifelong but previously insignificant swamp creature, into an international celebrity.

International Man: Currently, over 18 million Americans are currently behind on their mortgage or rent payments.

That temporary suspension on evictions ends December 31st. What do you think will happen next?

Doug Casey: Just as with the financial markets, the government has no alternative but to “do something.” They will—they have to—print more money to keep the rotten house of cards from collapsing on itself.

The Democrats have already said that they want to increase the next stimulus to over $3 trillion. The fact that most of the last round of stimulus was either overtly wasted, went to cronies, or can’t be accounted for, is completely lost on them. They recognize that unless they give a lot of money directly or indirectly to the hoi polloi, there are going to be millions of them on the streets.

Approximately 11 million renters and 4 or 5 million mortgagees are now in forbearance. They’ll be kicked out of their houses and apartments come January 1, barring a huge bailout. Where are those people going to go?

If Obama had made good on his ridiculous promise about shovel-ready projects, there’d be a lot more bridges that they could camp out under. But he didn’t. They have a real problem on their hands. Millions of people have been living above their means and have no savings. At this point, if they let landlords and banks kick all those people out, a number of things will happen. Residential property prices will collapse. Millions of people will be scrambling for somewhere to live. Lots of banks and landlords would go bust.

The longer the government kicks the can down the road, the bigger the inevitable bust will be. The stimulus money will have to continue because Biden doesn’t want it all to come unglued on his watch. The State is not only going to have to pay individuals and business owners that their idiotic policies have busted. They’ll be subsidizing banks, landlords, and utility companies—because you can’t live in a house or an apartment without water and electricity.

It’s worse than that because even if you cover the bare essentials, there’s no money leftover for maintenance. There will be millions of buildings across the country suffering from deferred maintenance. The South Bronx, East St. Louis, and Baltimore will be replicated across the country.

And no one’s talking about how to cover the real estate taxes due on these properties. Many local governments are already bankrupt. Their expenses are going way up even while their tax income collapses. The whole country has painted itself into a corner at this point. That’s what happens when you adopt a collectivist economic policy, as the Soviets, the Chinese, and scores of other countries have discovered.

I’m not sure how they’re going to get out of it because the economy itself has just started to collapse. Of course, they’ll print up more money because they see that as a solution when it’s actually a cause. It’s going to worsen the collapse.

International Man: For the tens of millions behind on their mortgage and rent payments, will their back rent and overdue payments ever be repaid?

Doug Casey: The government will not only have to pay the rent for the future, but it’s going to have to cover landlords’ previously unpaid rent—if they don’t want lots of bankrupt landlords and banks.

It will lead to a guaranteed annual income, which they’ve been thinking about for some time. In some cases, the government will take over properties. It’s nothing new. Most major US cities already have significant public housing. None of it’s good, but most isn’t as bad as Cabrini-Greene or Pruitt-Igoe.

Who knows where this daisy chain will lead? With all the unemployed people who can’t pay their rent, perhaps the government will develop something like national service. Then there will be millions more people working for the government, doing god knows what. It will lead to the socialization of society. Remember, this COVID hysteria is just the pin that broke the bubble. The Greater Depression was already in the cards. Americans will beg the government to cure it, which is guaranteed to make it vastly worse and longer-lasting and invite some charismatic authoritarian to be their savior and take charge.

International Man: Assuming the COVID hysteria and lockdowns are behind us in 2021, what lasting effects could we see taking place?

Doug Casey: It’s going to destroy the restaurant, retail, and travel industries all at once.

Stores, restaurants, and small businesses are always failing—maybe 15% of them annually— and new ones are starting up in normal times. It’s the circle of life. The problem is that about half of these businesses are failing all at once. That makes it much harder to recover.

The economy is a lot like a body. If you burn your finger, it hurts, but you’ll recover. But if you suffer burns on over 50% of your body all at once, it might kill you. That’s what we’re looking at right now.

Commercial real estate is another area that is going to be devastated because a lot of people will continue working at home and prefer it over working in an office.

Who knows what’s going to happen to all that commercial real estate and how it’s going to be repurposed. It’s certainly going to consume a huge amount of capital.

Another area that will change is schools. I would have been happy to have a year off from school because classes bored me. I would have read many more things on my own. But today, most kids don’t read books. Public school kids are lucky to absorb a few things by osmosis.

Now they’re mostly playing video games or are on social media—mostly doing nonproductive things on their computers at home. I don’t know the effect of not being able to associate with other kids.

For most kids, it may be damaging. On the bright side, many parents have decided that school is a waste of time and have started homeschooling their kids. That’s generally a positive thing.

Here’s the important thing, we don’t know how long this hysteria is going to last. People are so scared that they’ll be easy to control for fear of the next real or imagined virus that comes down the road. When people are scared and don’t know what to do, they will want somebody to kiss it and make it better.

So, I expect we’re heading towards a genuine strong man for president in the US, whether that’s Kamala Harris or somebody else. If the 2020 election was bad, the 2024 election would be worse.

*  *  *

Unfortunately most people have no idea what really happens when a government goes out of control, let alone how to prepare… The coming economic and political crisis is going to be much worse, much longer, and very different than what we’ve seen in the past. That’s exactly why New York Times bestselling author Doug Casey and his team just released an urgent new report titled Doug Casey’s Top 7 Predictions for the Raging 2020s. Click here to download the free PDF now.

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Spread & Containment

Middle-aged Americans in US are stressed and struggle with physical and mental health – other nations do better

Adults in Germany, South Korea and Mexico reported improvements in health, well-being and memory.

Middle age was often a time to enjoy life. Now, it brings stress and bad health to many Americans, especially those with lower education levels. Mike Harrington/Getty Images

Midlife was once considered a time to enjoy the fruits of one’s years of work and parenting. That is no longer true in the U.S.

Deaths of despair and chronic pain among middle-aged adults have been increasing for the past decade. Today’s middle-aged adults – ages 40 to 65 – report more daily stress and poorer physical health and psychological well-being, compared to middle-aged adults during the 1990s. These trends are most pronounced for people who attained fewer years of education.

Although these trends preclude the COVID-19 pandemic, COVID-19’s imprint promises to further exacerbate the suffering. Historical declines in the health and well-being of U.S. middle-aged adults raises two important questions: To what extent is this confined to the U.S., and will COVID-19 impact future trends?

My colleagues and I recently published a cross-national study, which is currently in press, that provides insights into how U.S. middle-aged adults are currently faring in relation to their counterparts in other nations, and what future generations can expect in the post-COVID-19 world. Our study examined cohort differences in the health, well-being and memory of U.S. middle-aged adults and whether they differed from middle-aged adults in Australia, Germany, South Korea and Mexico.

A middle-aged woman looking sad sitting in front of artwork.
Susan Stevens poses for a photograph in her daughter Toria’s room with artwork Toria left behind at their home in Lewisville, N.C. Toria died from an overdose. Eamon Queeney/For The Washington Post via Getty Images

US is an outlier among rich nations

We compared people who were born in the 1930s through the 1960s in terms of their health and well-being – such as depressive symptoms and life satisfaction – and memory in midlife.

Differences between nations were stark. For the U.S., we found a general pattern of decline. Americans born in the 1950s and 1960s experienced overall declines in well-being and memory in middle age compared to those born in the 1930s and 1940s. A similar pattern was found for Australian middle-aged adults.

In contrast, each successive cohort in Germany, South Korea and Mexico reported improvements in well-being and memory. Improvements were observed in health for each nation across cohorts, but were slowed for Americans born in the 1950s and 1960s, suggesting they improved less rapidly than their counterparts in the countries examined.

Our study finds that middle-aged Americans are experiencing overall declines in key outcomes, whereas other nations are showing general improvements. Our cross-national approach points to policies that could could help alleviate the long-term effects arising from the COVID-19 pandemic.

Will COVID-19 exacerbate troubling trends?

Initial research on the short-term effects of COVID-19 is telling.

The COVID-19 pandemic has laid bare the fragility of life. Seismic shifts have been experienced in every sphere of existence. In the U.S., job loss and instability rose, household financial fragility and lack of emergency savings have been spotlighted, and children fell behind in school.

At the start of the pandemic the focus was rightly on the safety of older adults. Older adults were most vulnerable to the risks posed by COVID-19, which included mortality, social isolation and loneliness. Indeed, older adults were at higher risk, but an overlooked component has been how the mental health risks and long-haul effects will likely differ across age groups.

Yet, young adults and middle-aged adults are showing the most vulnerabilities in their well-being. Studies are documenting that they are currently reporting more psychological distress and stressors and poorer well-being, compared to older adults. COVID-19 has been exacerbating inequalities across race, gender and socioeconomic status. Women are more likely to leave the workforce, which could further strain their well-being.

A older women hugs her daughter.
Middle-aged people often have parents to take care of as well as children. Ron Levine/Getty Images

Changing views and experiences of midlife

The very nature and expectations surrounding midlife are shifting. U.S. middle-aged adults are confronting more parenting pressures than ever before, in the form of engagement in extracurricular activities and pressures for their children to succeed in school. Record numbers of young adults are moving back home with their middle-aged parents due to student loan debt and a historically challenging labor and housing market.

A direct effect of gains in life expectancy is that middle-aged adults are needing to take on more caregiving-related duties for their aging parents and other relatives, while continuing with full-time work and taking care of school-aged children. This is complicated by the fact that there is no federally mandated program for paid family leave that could cover instances of caregiving, or the birth or adoption of a child. A recent AARP report estimated that in 2020, there were 53 million caregivers whose unpaid labor was valued at US$470 billion.

The restructuring of corporate America has led to less investment in employee development and destabilization of unions. Employees now have less power and input than ever before. Although health care coverage has risen since the Affordable Care Act was enacted, notable gaps exist. High numbers of people are underinsured, which leads to more out-of-pocket expenses that eat up monthly budgets and financially strain households. President Biden’s executive order for providing a special enrollment period of the health care marketplace exchange until Aug. 15, 2021 promises to bring some relief to those in need.

Promoting a prosperous midlife

Our cross-national approach provides ample opportunities to explore ways to reverse the U.S. disadvantage and promote resilience for middle-aged adults.

The nations we studied vastly differ in their family and work policies. Paid parental leave and subsidized child care help relieve the stress and financial strain of parenting in countries such as Germany, Denmark and Sweden. Research documents how well-being is higher in both parents and nonparents in nations with more generous family leave policies.

Countries with ample paid sick and vacation days ensure that employees can take time off to care for an ailing family member. Stronger safety nets protect laid-off employees by ensuring that they have the resources available to stay on their feet.

In the U.S., health insurance is typically tied to one’s employment. Early on in the COVID-19 pandemic over 5 million people in the U.S. lost their health insurance when they lost their jobs.

During the pandemic, the U.S. government passed policy measures to aid people and businesses. The U.S. approved measures to stimulate the economy through stimulus checks, payroll protection for small businesses, expansion of unemployment benefits and health care enrollment, child tax credits, and individuals’ ability to claim forbearance for various forms of debt and housing payments. Some of these measures have been beneficial, with recent findings showing that material hardship declined and well-being improved during periods when the stimulus checks were distributed.

I believe these programs are a good start, but they need to be expanded if there is any hope of reversing these troubling trends and promoting resilience in middle-aged Americans. A recent report from the Robert Wood Johnson Foundation concluded that paid family leave has a wide range of benefits, including, but not limited to, addressing health, racial and gender inequities; helping women stay in the workforce; and assisting businesses in recruiting skilled workers. Research from Germany and the United Kingdom shows how expansions in family leave policies have lasting effects on well-being, particularly for women.

Middle-aged adults form the backbone of society. They constitute large segments of the workforce while having to simultaneously bridge younger and older generations through caregiving-related duties. Ensuring their success, productivity, health and well-being through these various programs promises to have cascading effects on their families and society as a whole.

[Get the best of The Conversation, every weekend. Sign up for our weekly newsletter.]

Frank J. Infurna receives funding from the National Institute on Aging and previously from the John Templeton Foundation. The content is solely his responsibility and does not necessarily represent the official views of the funding agencies.

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Commodities

Euro 2020 – a football tournament where the big players come from China and the US

Much of the money that pays for the competition is spent to build global brands.

Simon Lehmann / Alamy Stock Photo

With Euro 2020 now under way after a year of pandemic delay, football fans will be hoping for great performances from Europe’s finest players. Some of us will watch the tournament unfold on our Hisense televisions, and many will choose to order in some half time refreshments, maybe via the Just Eat delivery service, possibly sent using a Vivo mobile phone.

Sustained by cans of Heineken, as goals are scored, supporters will upload celebration clips on to TikTok. And after the final, what better way to recharge than by arranging a holiday on Booking.com, perhaps flying on Qatar Airways.

For while fans will have their eyes firmly fixed on the efforts of players worth billions of pounds on the field, another big money game will be taking place off it. The Euros is one of the world’s biggest sport events, and a bonanza for corporate sponsors and partners (just a few of which are mentioned above).

In return for being exposed to the eyes of the world, Euros sponsors pay huge amounts of money. Just how much is difficult to say, as fees are commercially sensitive data. But in one case – that of Alipay (part of the Alibaba empire) – it is believed the Chinese company paid £176 million for an eight year deal.

UEFA has sold these deals in three ways: National Team Football Official Sponsors, Euro 2020 Official Sponsors, and Euro 2020 Official Licensees. And the origins of the companies and brands sponsoring this year’s event are a clear indication of how the beautiful game is valued by the corporate world.

Alongside UEFA partners such as FedEx and Konami, each of the national teams bring their own roster of sponsors, which makes for quite a cluttered selection of brands competing for attention. There’s England’s £50 million, five-year contract with BT, for example, while the Germans will bring Lufthansa to the tournament, Carlsberg will promote its association with Denmark and South Korea’s Hyundai will be represented by the Czech Republic.

The list goes on (and on). To capture the complex network of sponsors at Euro 2020 we created a network graphic of some of the most prominent and significant deals on show over the coming weeks. For reasons of clarity, we wern’t able to include every sponsor, but the range on display is revealing.

Graphic of Euro 2020 teams and sponsors.
Euro 2020 teams and associated sponsors. Paul Widdop and Simon Chadwick, Author provided

What becomes immediately clear is that although the UEFA European Championship is a continental tournament, its commercial reach is truly global. A significant number of sponsors are either not European or else have divisions that operate way beyond the borders of Europe.

At the same time, the sponsorship portfolio shows us that football is at the heart of the entertainment, lifestyle and digital economies. Gone are the days of motor-oil and office photocopier sponsorships. Instead we see a profusion of drinks brands, confectionery products and airlines.

In addition, the sponsorship of teams appears to go hand-in-hand with the promotion of national identity and national industry. “Brand Germany” for instance, is strongly represented by some of the country’s most important corporations, including Adidas and Volkswagen.

The appearance of Gazprom meanwhile, reflects the increasing use by nations of sponsorship as a geopolitical instrument. Indeed, the state owned Russian gas company has recently put its associations with UEFA and others to influential use.

Europe’s own goal

Equally, “Brand China” is now a major industrial and political power, and home to five of UEFA’s biggest tournament sponsors (Alipay, Antchain, Hisense, TikTok and Vivo).

Corporate America continues to endure too, represented by the likes of Coca Cola and IMG. The US has always been the home of contemporary sport sponsorship, and the country’s businesses continue to derive significant commercial value from it.

In fact, the underdogs in this big-money corporate competition appear to be the Europeans themselves. For an event being staged in countries including England, Italy, Spain and Romania, UEFA draws very few of its sponsors from the continent. Instead, it is clear that organisations from China and the US have both the financial muscle and the tactical brains to successfully dominate the tournament.

This reflects broader global trends which indicate the declining presence of European industry. European companies account for a falling percentage of global output. The market capitalisation of European firms is way behind that of American corporations and is fast being caught by Chinese firms. And the world’s technological hot spots are found in places such as Shenzhen and Silicon Valley, not in Europe.

Whether the footballing squad from France, Portugal or Switzerland lifts the trophy in July, there is no doubt that the UEFA tournament will be an on field triumph for Europe.

But the forces of globalisation, digitalisation and politico-economic change, reflected in the Euros’ portfolio of sponsors, will keep on playing long after the final whistle blows. And European industry could pay the penalty with a swift exit from the global industrial competition.

Simon Chadwick works with UEFA on its Certificate in Football Management programme.

Paul Widdop ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d'une organisation qui pourrait tirer profit de cet article, et n'a déclaré aucune autre affiliation que son organisme de recherche.

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Science

EU adds another rare blood condition as side effect of AstraZeneca shot

Europe’s drug regulator on June 11 identified another rare blood condition as a potential side effect of AstraZeneca’s Covid-19 vaccine and said it was looking into cases of heart inflammation after inoculation with all coronavirus shots.

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EU adds another rare blood condition as side effect of AstraZeneca shot

(Reuters; )

Europe’s drug regulator on Friday identified another rare blood condition as a potential side effect of AstraZeneca’s (AZN.L) COVID-19 vaccine and said it was looking into cases of heart inflammation after inoculation with all coronavirus shots.

The European Medicines Agency’s (EMA) safety committee said that capillary leak syndrome must be added as a new side effect to labelling on AstraZeneca’s vaccine, known as Vaxzevria.

People who had previously sustained the condition, where fluids leak from the smallest blood vessels causing swelling and a drop in blood pressure, should not receive the shot, the EMA added.

The regulator first began looking into these cases in April and the recommendation adds to AstraZeneca’s woes after its vaccine was associated with very rare and potentially lethal cases of blood clotting that come with a low platelet count.

Last month, the EMA had advised against using the second AstraZeneca shot for people with that clotting condition, known as thrombosis with thrombocytopenia syndrome (TTS).

The committee reviewed six validated cases of capillary leak syndrome in people, mostly women, who had received Vaxzevria, including one death. Three had had a history of the condition.

A vial of AstraZeneca coronavirus vaccine is seen at a vaccination centre in Westfield Stratford City shopping centre, amid the outbreak of coronavirus disease (COVID-19), in London, Britain, February 18, 2021. REUTERS/Henry Nicholls/File Photo

AstraZeneca declined to immediately comment.

More than 78 million Vaxzevria doses have been administered in the European Union, Liechtenstein, Iceland & Norway and Britain.

Britain’s regulator, the MHRA said on Thursday it had received 8 reports of capillary leak syndrome in the context of more than 40 million doses of the AstraZeneca vaccine given, and currently does not see a causal link.

Separately, the EMA said it was continuing its probe into cases of heart inflammation known as myocarditis and pericarditis, primarily following inoculation with the Pfizer/BioNTech (PFE.N), (22UAy.DE) and Moderna mRNA shots, but also after the J&J (JNJ.N) and AstraZeneca vaccines.

U.S. health officials said on Thursday they had registered a higher-than-expected number of heart inflammation cases in young men who received a second dose of the mRNA shots, though a causal relationship could not be established. read more

Israel’s Health Ministry said this month it had found a likely link to the condition in young men who received the Pfizer/BioNTech shot. read more

Both Pfizer and Moderna have acknowldged the observations but said a causal association with their vaccines has not been established.

BioNTech said adverse events, including myocarditis and pericarditis, are being regularly and thoroughly reviewed by the companies and regulatory authorities.

“More than 300 million doses of the Pfizer-BioNTech COVID-19 vaccine have been administered globally and the benefit risk profile of our vaccine remains positive.”

The United States and Israel have been months ahead of the EU in vaccinating men below 30, who are particularly prone to heart inflammation, giving them potentially more cases to analyse.

Our Standards: The Thomson Reuters Trust Principles.

 

Reuters source:

https://www.reuters.com/business/healthcare-pharmaceuticals/eu-advises-against-astrazeneca-shot-people-with-rare-blood-condition-2021-06-11

 

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