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Millennials Only Want This One Thing: Home Ownership

While quality of life in 2022 might seem better in many regards, energy use per capita was higher years ago, painting a bleak picture for millennials.

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While quality of life in 2022 might seem better in many regards, energy use per capita was higher years ago, painting a bleak picture for millennials.

This is an opinion editorial by Andy LeRoy, the founder of Exponential Layers which is a Lightning Network analytics platform and explorer.

This beautiful three bedroom, 1.5 bath house in Charlotte, North Carolina, is a millennial’s dream. Complete with a backyard and a porch for enjoying a coffee, it is in a prime neighborhood just down the street from a brunch spot with an all-day avocado toast special. For just $730,000, it can be all yours.

We all recognize this house is expensive. A $4,000 monthly payment, even after putting $150,000 down, would represent nearly 70% of the median U.S. household income, and this house is about 1.7 times higher than the U.S. median home price of $440,000.

Why Is This House So Expensive?

The house was built in 1938, and its latest available records show its sale history, the earliest being for $88,500 in 1987.

This jump from $88,500 to $730,000 is a 725% increase over 35 years, and reflects a compound annual growth rate (CAGR) of 6.2%. That’s quite an increase. Over the same time the S&P 500 is up 465% at a CAGR of 5.1%, so is it really that big of a jump in comparison?

What about gross domestic product (GDP), the go-to for measuring economic output? GDP is up from $4.7 trillion to $24.8 trillion in nominal terms, another triple-digit increase of 427% over 35 years.

So everything is up … it makes sense, right?

Charlotte’s population has grown from 424,000 to 2.2 million over this same time period — 5% CAGR — and this house is in a great neighborhood, so supply and demand? Plus our economy is more productive, so the rise in price is inevitable?

All of this checks out on paper, except for one metric: energy.

U.S. energy consumption in 1987 was 21,056 TWh of energy, which adjusted for population at the time represents about 87,000 kWh per person. Of this energy consumption, electricity usage was around 11,500 kWh per capita.

Compare that to today — the latest figures in 2022 for the United States show per capita energy consumption of 76,632 kWh, with a slight increase in the amount consumed as electricity at 12,466 kWh per person.

For all of the talk of “walking uphill both ways” in previous generations, it actually turns out that more energy was consumed per capita 35 years ago in the U.S. than it is today.

The Energy Breakdown

There are a number of forms for how energy (and then electricity) is created.

How energy is created

If you ride a bike at a reasonable pace, you will generate 100 watts. Keep this up for 10 hours and you will have generated 1 kWh worth of energy. A load of laundry done with a washer and a dryer will consume around 6 kWh of energy.

If we ignore the monetary denomination of housing prices and just look at the U.S. economy as the output and consumption of energy, we now consume less per capita than we did in 1987.

As we saw in USD prices, this particular house is eight times as expensive, while energy consumption per capita is flat. By this logic, if it took you one month of riding your bike for 10 hours a day to generate the energy to buy the house in 1987, you would now need to ride your bike for eight months to buy the same house. Eight times as much energy for the same product? Better get out that Peloton subscription.

This is a cherry-picked example of one house in a growing city; it has probably been renovated many times and is worth the extra work, especially considering Charlotte’s population and job growth.

Let’s zoom out and look at another example.

The Texas A&M Real Estate Center publishes aggregated rural land prices. From their chart, we can see that an acre of land in Texas in 1987 was $553. That same land in 2021 is now nearly $4,000/acre (an eightfold increase over a 35-year period).

(Source)

An acre of land, with no improvements, in the middle of nowhere, now requires eight times as much energy output to purchase?!

Land can improve in value with higher population, utility (farming or hunting) or lower tax rates and/or some kind of subsidized incentive. But a 362% price increase after adjusting for U.S. population growth? Texas forever, but something doesn’t add up here.

Is Energy The Correct Metric?

The idea of energy-based money is nothing new. Henry Ford was an early proponent of energy as currency, and as many Bitcoiners and Redditors have pointed out, he was also a believer in reincarnation (H.F. anyone?). The idea of a money denominated in energy terms, kWh for example, held great promise for getting us out of the fiat system.

We intuitively recognize the concept of energy. We either work longer hours or we focus efforts or use better tools to leverage our output, and the abstractions simply go on. The corporate world is full of internal rate of return analysis, resource staffing, budgets and timelines. Earnings reports and financial statements offer the scorecard to the market, which weeds out businesses that do not generate economic value over time.

Our system of capitalism has worked quite well. Thanks to the incredible ingenuity, output and work of everyone in the world, and despite inflation, so many things now have lower prices.

In 1956, the ENIAC computer weighed 27 tons, consumed 150 kW, ran about 100,000 operations per second and cost the equivalent of $6 million today. Today, a new Macbook weighs 3.5lbs, consumes around 40 watts, and cranks out 3.2 billion operations per second — all for $2,000.

Airliners have increased their fuel efficiency at a compound rate of 1.3% between 1968 and 2014.

In many cases, we are getting much more efficient with all of our energy consumption, so things should be getting even more inexpensive?

What’s The Problem?

To be able to have a rich life and so many improvements while using the same energy per capita is a benefit to us all, but how that economic value is measured is susceptible to changing rules.

If we have gotten more efficient with our energy and have better technology, how is it that a piece of rural land costs eight times more? This is where the Federal Reserve’s expanding money supply comes into play. For all of the talk about “transitory inflation,” the Fed (with the help of banks) has managed to expand the M2 money supply by around 680% over the past 35 years.

So while our nominal GDP is up 427%, it hasn’t outpaced money supply growth, and we have already seen that energy consumption per capita is flat over 35 years.

The problem here is what we all can tangibly feel: The output of our work denominated by the energy we put in is worth significantly less over time.

When we as individuals or corporations are unable to preserve the efforts of our energy output, we must continually find ways to preserve our purchasing power through assets like land, commodities and equities. If the pace at which stored energy degrades is faster than innovation and output, we have problems. Physical limits come into play: We can print all the money in the world, but we can’t fake energy production and consumption.

Yes, our energy may be consumed more efficiently — as evidenced earlier by the airplane requiring 45% less fuel for the same trip — thus providing more value to society. If our society has been so efficient, why has debt to GDP risen from 47% in 1987 to 123% today? How is it that we have needed to borrow against the future so much in an environment of increased productivity? At some point this all breaks.

What Breaks?

Unlike with fiat or any proof-of-stake altcoins, you cannot fake energy creation. Doing more work in the past does not magically create new work in the future. However, the cover-up in fiat money printing, combined with every U.S. government administration’s propensity to spend, has left us in debt.

(Source)

Supposedly this is fine, because we can always print our way out of debt. But can we really?

In 2021, the federal government brought in $4.05 trillion in revenue with GDP at $22.4 trillion. It spent $6.82 trillion. The pandemic payments made up $570 billion on top of other category staples such as social security ($1.1 trillion), health ($797 billion) and defense ($755 billion). Interest paid by the government was $352 billion — 5% of total spending (in a pandemic year).

Over time, the government has spent more as a percent of GDP — 32% in 1987 compared to 55% at the height of the pandemic — and now to 34% in 2022. Even after capturing the value hidden in inflation all these years!

In attempts to quell record inflation (9.1% in the latest report), the Fed hiked interest rates to 2.5% in July; an increase of 75 basis points (.75%).

While this may “slow” the economy, it has two negative effects on being able to balance the budget. With a slower economy, they have a lower tax revenue to draw from. The latest 0.75% interest rate increase also adds another approximately $130 billion in interest expense to a budget that already can’t be balanced. This comes in the form of added expense on debt rollover, and this great article from Allan Sloan walks through an estimated calculation.

Using his rollover debt totals of about $7.1 trillion, every 100 basis point increase in the federal funds rate that feeds through to market yields on Treasuries adds another $70 billion to required government spending. If rates ever get up to a 5% range, that puts interest expense (on just current debt) at somewhere close to $500 billion. More than transportation, education, training, employment and social services combined.

The Fed can also continue their attempts for quantitative tightening, but this has the same problem: higher interest rates (and interest expense), and a presumably reduced tax base given economic slowdown.

The last remaining option would be to cut federal spending or increase taxes. With names like the “Inflation Reduction Act,” we already see the government attempting to mask their increased taxation attempts. Other “hidden” taxation attempts will likely come: increasing the age at which you can begin receiving social security benefits, adding additional taxes for “wealthy” people withdrawing from their 401(k) or IRA, putting in carbon taxes under the guise of “ESG” (environmental, social and governance). Things will need to be creative to offset the competing incentives of a surplus and (re)election.

At some point, this model breaks. We cannot cut energy production and consumption, cut interest rates to encourage growth and run continued deficits. The numbers don’t add up and eventually no one — individuals, companies or governments — can fake the energy output required to keep pace. We have seen a number of debt-ceiling showdowns over the past decade, but this time seems different, especially with 25% of the world living in countries with 10%-plus inflation.

What’s Next?

Money is just a tool for valuing goods and services over time — and has key properties. It doesn’t create “yield” by itself. Only productive assets, which provide positive economic value, can do this. When it all breaks down, whoever holds the productive assets can determine the role of money, provided they have the resources and means to enforce and defend the rules.

But, as all of you are well aware, we finally have an alternative option. Instead of it coming from top-down enforcement, backed by the military, Bitcoin is adopted bottom-up — in the very order that its properties become beneficial to the people and companies providing economic value.

All we want as millennials is a way to preserve our work, energy and purchasing power. And have a good avocado toast while we ride our pelotons.

How Bitcoin adoption plays out will be interesting and exciting to watch. Bitcoin is already used worldwide, with a $410 billion market cap, settling some $60 trillion in value.

Now, with the Lightning Network, Bitcoin can be sent peer-to-peer instantaneously, without a central authority. July saw the highest monthly Lightning Network capacity, and every metric is up and to the right for providing a payment layer that offers continued utility and helps clear the medium of exchange hurdle present in the Bitcoin system.

Defining success metrics relies on a whole host of factors, and at Exponential Layers you can take a look at preliminary Lightning Network metrics that give insight into network growth (among other data), as Lightning moves to take the role of Visa’s $10.4 trillion yearly payment volume.

This is a guest post by Andy LeRoy. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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Are Voters Recoiling Against Disorder?

Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super…

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Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super Tuesday primaries have got it right. Barring cataclysmic changes, Donald Trump and Joe Biden will be the Republican and Democratic nominees for president in 2024.

(Left) President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library in Culver City, Calif., on Feb. 21, 2024. (Right) Republican presidential candidate and former U.S. President Donald Trump stands on stage during a campaign event at Big League Dreams Las Vegas in Las Vegas, Nev., on Jan. 27, 2024. (Mario Tama/Getty Images; David Becker/Getty Images)

With Nikki Haley’s withdrawal, there will be no more significantly contested primaries or caucuses—the earliest both parties’ races have been over since something like the current primary-dominated system was put in place in 1972.

The primary results have spotlighted some of both nominees’ weaknesses.

Donald Trump lost high-income, high-educated constituencies, including the entire metro area—aka the Swamp. Many but by no means all Haley votes there were cast by Biden Democrats. Mr. Trump can’t afford to lose too many of the others in target states like Pennsylvania and Michigan.

Majorities and large minorities of voters in overwhelmingly Latino counties in Texas’s Rio Grande Valley and some in Houston voted against Joe Biden, and even more against Senate nominee Rep. Colin Allred (D-Texas).

Returns from Hispanic precincts in New Hampshire and Massachusetts show the same thing. Mr. Biden can’t afford to lose too many Latino votes in target states like Arizona and Georgia.

When Mr. Trump rode down that escalator in 2015, commentators assumed he’d repel Latinos. Instead, Latino voters nationally, and especially the closest eyewitnesses of Biden’s open-border policy, have been trending heavily Republican.

High-income liberal Democrats may sport lawn signs proclaiming, “In this house, we believe ... no human is illegal.” The logical consequence of that belief is an open border. But modest-income folks in border counties know that flows of illegal immigrants result in disorder, disease, and crime.

There is plenty of impatience with increased disorder in election returns below the presidential level. Consider Los Angeles County, America’s largest county, with nearly 10 million people, more people than 40 of the 50 states. It voted 71 percent for Mr. Biden in 2020.

Current returns show county District Attorney George Gascon winning only 21 percent of the vote in the nonpartisan primary. He’ll apparently face Republican Nathan Hochman, a critic of his liberal policies, in November.

Gascon, elected after the May 2020 death of counterfeit-passing suspect George Floyd in Minneapolis, is one of many county prosecutors supported by billionaire George Soros. His policies include not charging juveniles as adults, not seeking higher penalties for gang membership or use of firearms, and bringing fewer misdemeanor cases.

The predictable result has been increased car thefts, burglaries, and personal robberies. Some 120 assistant district attorneys have left the office, and there’s a backlog of 10,000 unprosecuted cases.

More than a dozen other Soros-backed and similarly liberal prosecutors have faced strong opposition or have left office.

St. Louis prosecutor Kim Gardner resigned last May amid lawsuits seeking her removal, Milwaukee’s John Chisholm retired in January, and Baltimore’s Marilyn Mosby was defeated in July 2022 and convicted of perjury in September 2023. Last November, Loudoun County, Virginia, voters (62 percent Biden) ousted liberal Buta Biberaj, who declined to prosecute a transgender student for assault, and in June 2022 voters in San Francisco (85 percent Biden) recalled famed radical Chesa Boudin.

Similarly, this Tuesday, voters in San Francisco passed ballot measures strengthening police powers and requiring treatment of drug-addicted welfare recipients.

In retrospect, it appears the Floyd video, appearing after three months of COVID-19 confinement, sparked a frenzied, even crazed reaction, especially among the highly educated and articulate. One fatal incident was seen as proof that America’s “systemic racism” was worse than ever and that police forces should be defunded and perhaps abolished.

2020 was “the year America went crazy,” I wrote in January 2021, a year in which police funding was actually cut by Democrats in New York, Los Angeles, San Francisco, Seattle, and Denver. A year in which young New York Times (NYT) staffers claimed they were endangered by the publication of Sen. Tom Cotton’s (R-Ark.) opinion article advocating calling in military forces if necessary to stop rioting, as had been done in Detroit in 1967 and Los Angeles in 1992. A craven NYT publisher even fired the editorial page editor for running the article.

Evidence of visible and tangible discontent with increasing violence and its consequences—barren and locked shelves in Manhattan chain drugstores, skyrocketing carjackings in Washington, D.C.—is as unmistakable in polls and election results as it is in daily life in large metropolitan areas. Maybe 2024 will turn out to be the year even liberal America stopped acting crazy.

Chaos and disorder work against incumbents, as they did in 1968 when Democrats saw their party’s popular vote fall from 61 percent to 43 percent.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sat, 03/09/2024 - 23:20

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Government

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The…

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Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The U.S. Department of Veterans Affairs (VA) reviewed no data when deciding in 2023 to keep its COVID-19 vaccine mandate in place.

Doses of a COVID-19 vaccine in Washington in a file image. (Jacquelyn Martin/Pool/AFP via Getty Images)

VA Secretary Denis McDonough said on May 1, 2023, that the end of many other federal mandates “will not impact current policies at the Department of Veterans Affairs.”

He said the mandate was remaining for VA health care personnel “to ensure the safety of veterans and our colleagues.”

Mr. McDonough did not cite any studies or other data. A VA spokesperson declined to provide any data that was reviewed when deciding not to rescind the mandate. The Epoch Times submitted a Freedom of Information Act for “all documents outlining which data was relied upon when establishing the mandate when deciding to keep the mandate in place.”

The agency searched for such data and did not find any.

The VA does not even attempt to justify its policies with science, because it can’t,” Leslie Manookian, president and founder of the Health Freedom Defense Fund, told The Epoch Times.

“The VA just trusts that the process and cost of challenging its unfounded policies is so onerous, most people are dissuaded from even trying,” she added.

The VA’s mandate remains in place to this day.

The VA’s website claims that vaccines “help protect you from getting severe illness” and “offer good protection against most COVID-19 variants,” pointing in part to observational data from the U.S. Centers for Disease Control and Prevention (CDC) that estimate the vaccines provide poor protection against symptomatic infection and transient shielding against hospitalization.

There have also been increasing concerns among outside scientists about confirmed side effects like heart inflammation—the VA hid a safety signal it detected for the inflammation—and possible side effects such as tinnitus, which shift the benefit-risk calculus.

President Joe Biden imposed a slate of COVID-19 vaccine mandates in 2021. The VA was the first federal agency to implement a mandate.

President Biden rescinded the mandates in May 2023, citing a drop in COVID-19 cases and hospitalizations. His administration maintains the choice to require vaccines was the right one and saved lives.

“Our administration’s vaccination requirements helped ensure the safety of workers in critical workforces including those in the healthcare and education sectors, protecting themselves and the populations they serve, and strengthening their ability to provide services without disruptions to operations,” the White House said.

Some experts said requiring vaccination meant many younger people were forced to get a vaccine despite the risks potentially outweighing the benefits, leaving fewer doses for older adults.

By mandating the vaccines to younger people and those with natural immunity from having had COVID, older people in the U.S. and other countries did not have access to them, and many people might have died because of that,” Martin Kulldorff, a professor of medicine on leave from Harvard Medical School, told The Epoch Times previously.

The VA was one of just a handful of agencies to keep its mandate in place following the removal of many federal mandates.

“At this time, the vaccine requirement will remain in effect for VA health care personnel, including VA psychologists, pharmacists, social workers, nursing assistants, physical therapists, respiratory therapists, peer specialists, medical support assistants, engineers, housekeepers, and other clinical, administrative, and infrastructure support employees,” Mr. McDonough wrote to VA employees at the time.

This also includes VA volunteers and contractors. Effectively, this means that any Veterans Health Administration (VHA) employee, volunteer, or contractor who works in VHA facilities, visits VHA facilities, or provides direct care to those we serve will still be subject to the vaccine requirement at this time,” he said. “We continue to monitor and discuss this requirement, and we will provide more information about the vaccination requirements for VA health care employees soon. As always, we will process requests for vaccination exceptions in accordance with applicable laws, regulations, and policies.”

The version of the shots cleared in the fall of 2022, and available through the fall of 2023, did not have any clinical trial data supporting them.

A new version was approved in the fall of 2023 because there were indications that the shots not only offered temporary protection but also that the level of protection was lower than what was observed during earlier stages of the pandemic.

Ms. Manookian, whose group has challenged several of the federal mandates, said that the mandate “illustrates the dangers of the administrative state and how these federal agencies have become a law unto themselves.”

Tyler Durden Sat, 03/09/2024 - 22:10

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The Coming Of The Police State In America

The Coming Of The Police State In America

Authored by Jeffrey Tucker via The Epoch Times,

The National Guard and the State Police are now…

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The Coming Of The Police State In America

Authored by Jeffrey Tucker via The Epoch Times,

The National Guard and the State Police are now patrolling the New York City subway system in an attempt to do something about the explosion of crime. As part of this, there are bag checks and new surveillance of all passengers. No legislation, no debate, just an edict from the mayor.

Many citizens who rely on this system for transportation might welcome this. It’s a city of strict gun control, and no one knows for sure if they have the right to defend themselves. Merchants have been harassed and even arrested for trying to stop looting and pillaging in their own shops.

The message has been sent: Only the police can do this job. Whether they do it or not is another matter.

Things on the subway system have gotten crazy. If you know it well, you can manage to travel safely, but visitors to the city who take the wrong train at the wrong time are taking grave risks.

In actual fact, it’s guaranteed that this will only end in confiscating knives and other things that people carry in order to protect themselves while leaving the actual criminals even more free to prey on citizens.

The law-abiding will suffer and the criminals will grow more numerous. It will not end well.

When you step back from the details, what we have is the dawning of a genuine police state in the United States. It only starts in New York City. Where is the Guard going to be deployed next? Anywhere is possible.

If the crime is bad enough, citizens will welcome it. It must have been this way in most times and places that when the police state arrives, the people cheer.

We will all have our own stories of how this came to be. Some might begin with the passage of the Patriot Act and the establishment of the Department of Homeland Security in 2001. Some will focus on gun control and the taking away of citizens’ rights to defend themselves.

My own version of events is closer in time. It began four years ago this month with lockdowns. That’s what shattered the capacity of civil society to function in the United States. Everything that has happened since follows like one domino tumbling after another.

It goes like this:

1) lockdown,

2) loss of moral compass and spreading of loneliness and nihilism,

3) rioting resulting from citizen frustration, 4) police absent because of ideological hectoring,

5) a rise in uncontrolled immigration/refugees,

6) an epidemic of ill health from substance abuse and otherwise,

7) businesses flee the city

8) cities fall into decay, and that results in

9) more surveillance and police state.

The 10th stage is the sacking of liberty and civilization itself.

It doesn’t fall out this way at every point in history, but this seems like a solid outline of what happened in this case. Four years is a very short period of time to see all of this unfold. But it is a fact that New York City was more-or-less civilized only four years ago. No one could have predicted that it would come to this so quickly.

But once the lockdowns happened, all bets were off. Here we had a policy that most directly trampled on all freedoms that we had taken for granted. Schools, businesses, and churches were slammed shut, with various levels of enforcement. The entire workforce was divided between essential and nonessential, and there was widespread confusion about who precisely was in charge of designating and enforcing this.

It felt like martial law at the time, as if all normal civilian law had been displaced by something else. That something had to do with public health, but there was clearly more going on, because suddenly our social media posts were censored and we were being asked to do things that made no sense, such as mask up for a virus that evaded mask protection and walk in only one direction in grocery aisles.

Vast amounts of the white-collar workforce stayed home—and their kids, too—until it became too much to bear. The city became a ghost town. Most U.S. cities were the same.

As the months of disaster rolled on, the captives were let out of their houses for the summer in order to protest racism but no other reason. As a way of excusing this, the same public health authorities said that racism was a virus as bad as COVID-19, so therefore it was permitted.

The protests had turned to riots in many cities, and the police were being defunded and discouraged to do anything about the problem. Citizens watched in horror as downtowns burned and drug-crazed freaks took over whole sections of cities. It was like every standard of decency had been zapped out of an entire swath of the population.

Meanwhile, large checks were arriving in people’s bank accounts, defying every normal economic expectation. How could people not be working and get their bank accounts more flush with cash than ever? There was a new law that didn’t even require that people pay rent. How weird was that? Even student loans didn’t need to be paid.

By the fall, recess from lockdown was over and everyone was told to go home again. But this time they had a job to do: They were supposed to vote. Not at the polling places, because going there would only spread germs, or so the media said. When the voting results finally came in, it was the absentee ballots that swung the election in favor of the opposition party that actually wanted more lockdowns and eventually pushed vaccine mandates on the whole population.

The new party in control took note of the large population movements out of cities and states that they controlled. This would have a large effect on voting patterns in the future. But they had a plan. They would open the borders to millions of people in the guise of caring for refugees. These new warm bodies would become voters in time and certainly count on the census when it came time to reapportion political power.

Meanwhile, the native population had begun to swim in ill health from substance abuse, widespread depression, and demoralization, plus vaccine injury. This increased dependency on the very institutions that had caused the problem in the first place: the medical/scientific establishment.

The rise of crime drove the small businesses out of the city. They had barely survived the lockdowns, but they certainly could not survive the crime epidemic. This undermined the tax base of the city and allowed the criminals to take further control.

The same cities became sanctuaries for the waves of migrants sacking the country, and partisan mayors actually used tax dollars to house these invaders in high-end hotels in the name of having compassion for the stranger. Citizens were pushed out to make way for rampaging migrant hordes, as incredible as this seems.

But with that, of course, crime rose ever further, inciting citizen anger and providing a pretext to bring in the police state in the form of the National Guard, now tasked with cracking down on crime in the transportation system.

What’s the next step? It’s probably already here: mass surveillance and censorship, plus ever-expanding police power. This will be accompanied by further population movements, as those with the means to do so flee the city and even the country and leave it for everyone else to suffer.

As I tell the story, all of this seems inevitable. It is not. It could have been stopped at any point. A wise and prudent political leadership could have admitted the error from the beginning and called on the country to rediscover freedom, decency, and the difference between right and wrong. But ego and pride stopped that from happening, and we are left with the consequences.

The government grows ever bigger and civil society ever less capable of managing itself in large urban centers. Disaster is unfolding in real time, mitigated only by a rising stock market and a financial system that has yet to fall apart completely.

Are we at the middle stages of total collapse, or at the point where the population and people in leadership positions wise up and decide to put an end to the downward slide? It’s hard to know. But this much we do know: There is a growing pocket of resistance out there that is fed up and refuses to sit by and watch this great country be sacked and taken over by everything it was set up to prevent.

Tyler Durden Sat, 03/09/2024 - 16:20

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