| By Bill Bonner Monday, August 31, 2020 – Week 25 of the Quarantine SAN MARTIN, ARGENTINA – We have two pieces of bad news… both becoming clear over the last two weeks. First, the Republican Party is dead. We’ll roll the corpse over tomorrow and have a look. But sadly, the Democrats are alive and well. Waste of Time Here at the Diary, we try to ignore politics as much as possible. Like TV, Facebook, and dinner parties, they’re a waste of time. Besides, we have no desire to take something away from anyone else, neither with a pistol or an election. If we can’t earn it – or at least steal it honestly – we don’t want it. But many of our Dear Readers take their politics seriously. So, we’ll do our best to offend as many of them as we can. Besides, politics is getting harder and harder to ignore. It muscles into our private lives like Antifa crashing a kumbaya singalong. Left and Right are shooting at each other, while knuckleheaded politicians crash the economy… and trash our civil society, too. Pathetic Affair The Democrats’ big shindig, a week ago, was a pathetic affair. It was little more than a gripe fest aimed at Donald Trump (although Mr. Biden didn’t once pronounce his name). The Democrats are convinced that Mr. Trump is a dangerous moron… probably the only thing on the whole agenda that they are right about. Tulsi Gabbard won more delegates than Kamala Harris. But Ms. Gabbard dared to challenge the party’s Clintonesque warmongering… and endangered its support from the armed wing of the Deep State. Ms. Gabbard may have some other good ideas, too, but we never got to hear from her; she was not invited. And with her out of the way, the hacks and has-beens were able to pick up the old bones and gnaw away. Inequality… racism… LBGT+ … free medical care… free this… free that – from eternal life to cheap broadband… they were for it all. And they had a solution for every problem… even those that don’t exist. Joe Biden: [I won’t] put up with foreign interference in our most sacred democratic exercise: voting. “Sacred” is the right word. Like the virgin birth… Q Anon… and super heroes – you have to believe. The FINAL Wave of 5G Millionaires Starts Any Day Now. Patriotic Duty For one thing, it takes a remarkable suspension of disbelief to think that foreigners would want to diddle with U.S. elections. “Never interrupt your enemy when he’s making a mistake,” said Napoleon. In the upcoming election, we have a worn-out husk on one side, ready to go along with everything. On the other is a delusional grifter, who might do anything. Why would any foreign nation bother to meddle? As for the voters themselves, it must take an amazing lack of self-esteem to want either of these clowns to tell them what to do. “Can I buy a Chinese-made phone? Do I have to wear a mask? Can I go out of my house now? Should I save my money… or spend it? Should I hate the Russians? Should I send my boy to the Middle East so someone can shoot at him… or to Portland? Why is it so hard to make ends meet?” Seriously? Do you want Joe Biden or Donald Trump to answer these questions for you? Either way, here’s Biden’s answer: We'll have a national mandate to wear a mask – not as a burden, but to protect each other. It's a patriotic duty. Really? A patriotic duty to wear a face mask? | Recommended Link | | $19,000 For A DNA Test??
"These methods are not approved by the FDA." Jeff Brown had just flown 2,900 miles… Paid $19,000… All in order to access an advanced $563 million private research facility. He wasn't going to say no. So, he stepped inside. And what he discovered next shocked him… A special piece of equipment this research facility makes use of at the start of a massive, new 5,900% technological boom. This has major repercussions if you have any money invested. And could be the closest thing to buying Amazon back when it was $50. | | | -- | Dumb as Ever By this time in his speech, Joe Biden was rolling up his sleeves and getting down to business. Here’s his plan: With modern roads, bridges, highways, broadband, ports and airports as a new foundation for economic growth. With pipes that transport clean water to every community. With 5 million new manufacturing and technology jobs so the future is made in America. With a health care system that lowers premiums, deductibles, and drug prices by building on the Affordable Care Act he’s trying to rip away. With an education system that trains our people for the best jobs of the 21st century, where cost doesn’t prevent young people from going to college, and student debt doesn’t crush them when they get out. With child care and elder care that make it possible for parents to go to work and for the elderly to stay in their homes with dignity. With an immigration system that powers our economy and reflects our values. With newly empowered labor unions. With equal pay for women. With rising wages you can raise a family on. Yes, we’re going to do more than praise our essential workers. We’re finally going to pay them. We can, and we will, deal with climate change. It’s not only a crisis, it’s an enormous opportunity. An opportunity for America to lead the world in clean energy and create millions of new good-paying jobs in the process. Yes, Dear Reader, the Democrats are alive and well. And dumb as ever. They have one tired and ineffective solution to everything: more government. This Revolutionary Tech IS the #1 Investment of the Century. Bad Math But wait… how to pay for all this stuff? At least Biden did suggest a source of funds: And we can pay for these investments by ending loopholes and the president’s $1.3 trillion tax giveaway to the wealthiest 1 percent and the biggest, most profitable corporations, some of which pay no tax at all. Really? End loopholes and raise taxes on the rich? Is anyone able to add and subtract? This year, the feds are closing in on a $4.2 trillion deficit – funded almost entirely by printing “fake” money. A little of that gap might be filled by raising taxes on the rich, but probably not much. A substantial increase in tax rates – say, capital gains or death duties – would collapse the stock market. Instead of paying capital gains, the rich would be taking capital losses… and paying less tax. And of course, the rich have lobbyists… with whom Mr. Biden is very familiar. For many years, he was the go-to pol for Delaware’s big banks. And (along with Donald Trump) he’s a major recipient of Big Pharma/Insurance company campaign donations. No doubt, they still have his phone number. | Recommended Link | | Shocking ✅
Scandalous ✅
Surprising ❌ Judge Jeanine Pirro and former hedge fund manager Teeka Tiwari team up to expose a stunning stock market conspiracy… Washington's top politicians and insiders have all but cornered one of the biggest opportunities out there right now. As much as $22 billion is up for grabs for early investors, estimates show… | | | -- | The Real Problem But the real problem with the Democrats’ get-together was not the usual hollow promises, double-dealing, and idea-free speeches. Those are what you’d expect. But you might also expect that at least one person might have noticed that the U.S. is headed towards a fiscal/economic/social catastrophe. Its financing scheme – covering huge deficits with printing-press money – has ruined every country that has tried it. And yet, not one word was said about it. Michael Bloomberg attacked Trump’s economic record… and rightly so, but only to discredit The Donald. Like the other speakers, he stuck to the basic template for the whole program – bemoan the problems of the poor, the unemployed, the downtrodden, the BIPOCs, the economy, the climate… …but never question the real causes. No one wondered why GDP growth is running at the lowest levels since WWII. Or why debt is growing more than twice as fast. Or why working-class wages are lower today than they were 50 years ago. Or why there are now 30 million people on the unemployment rolls. Or why the economy might never recover from its current slump. Or why the lives of so many Americans – Black and white – are so miserable… or how they might actually be made better. Instead, like so much of the rest of American public life, the Democrats’ convention was fake… not really facing up to any of the problems and dangers now threatening the country… and not having any sensible idea of what to do about them. Tomorrow: GOP. R.I.P. Regards, Bill
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FEATURED READS Economists Think Double-Dip Recession in the U.S. Is Likely
In August, the National Association for Business Economics surveyed economists from around the country about their expectations for a coronavirus recovery. The consensus is bleak. Among other concerns, up to 80% of respondents warn of a double-dip recession… COVID-19 Accelerates the War on Cash
Bill has written at length about the U.S. government’s War on Cash (you can read about the feds’ first “shot” here). His longtime colleague, Chris Lowe, now explains how the COVID-19 pandemic gave the government a significant advantage in its pursuit of a cashless society… MAILBAG Mixed reactions from dear readers today, after Bill made two claims on Friday: that the COVID-19 lockdowns were a mistake, and that face masks probably don’t mitigate risk from the virus… Bill, I hope your financial research is better than your COVID-19 research. Lockdowns slow down the spread of COVID-19, not prevent COVID-19, so your current numbers are better with lockdowns and they do help hospitals not to get overwhelmed. They also give medical folks time to develop treatment approaches. Your long-term rate is still unknown. And, I don’t expect the vaccines to work much better than influenza. On those rare occasions a medical professional talks me into getting a flu vaccine, I generally get the flu. Otherwise, I have not had the flu in any year I skipped the shot. I’m your age or older, but healthy, so that is a concern. – Jeff S. David Stockman comparing COVID death rates between Sweden and Arizona is ingenious for a number of demographic reasons, age of population among them. A more relevant comparison is with neighbors Denmark, Finland, and Norway, which all locked down harder. Sweden: 35 deaths per 100,000 Denmark: 9.3 deaths per 100,000, Finland: 5.2 deaths per 100,000, and Norway: 4.7 deaths per 100,000. And Sweden didn’t avoid economic damage by staying “open,” in some ways, because their export markets were shut down. None of this is clear evidence that lockdowns were a good idea on balance, but the evidence is clear that they resulted in lower death rates across similar demographics. – Gary M. I don’t know where you are seeing the empty parking spaces and nobody eating out or anything else. Where I live, Tampa, FL, is a bustling community again. I’ve never had to park as far away from the restaurant I was going to as yesterday. The restaurant put dividers up between booths so they could have 100% seating back and it was almost full. I’m sure the 10% unemployment is real, but it isn’t what I'm seeing. Your story is way too downtrodden for my sense of what is going on. – Bill E. Meanwhile, another dear reader criticizes Bill’s Argentina-America comparison… To compare Argentina and the United States is silly at best. In the time prior to Perón, Argentina had many more problems. Basically no infrastructure, illiteracy was over 70%. Medical facilities were very rare, and training was non-existent in the world market. All the infrastructure that was put in place, as such, was in Perón’s time. After that, there has been very little. The amount of benefits for the working class at his time has not been matched. Perón did not share views with the USA as for world affairs and so on. In a sense, Argentina, at the time of Perón, had a GDP as good as any country in the world. My father was a businessman at this time in Argentina and grew his business, painting a much different picture as you have stated. – Alberts A. And finally, others comment on the destruction caused by political and economic corruption… One thing to remember about politicians: Truth is only part of their values and their vocabulary when it benefits them. Otherwise, they habitually speak lies or half-truths, which paint them in a good light. That is why I say vote for any politician in any office only once, then vote them out before they have the chance to develop the wherewithal to become entrenched in some form of idiocy, which seems of advantage to them. Biden has shown the socialist idiocy he developed in Congress and the Vice Presidency. Trump has shown his own brand of right wing, neofascist idiocy in his one term in office. There are a handful of candidates running as independents or for minor parties. Perhaps we should give one of them a chance – they could hardly be worse than the choices the major parties have given us. – Charles B. I believe that our current society is more obsessed with greed, rather than free enterprise. The divide between the ultra, filthy-rich and average American is almost unimaginable. Such a divide is not the result of honest, productive competition, but corrupt control and coordination among a few beneficiaries who hold the levers of power in government, banks, pharmaceutical companies, etc. I believe things can possibly change for the better once this exclusive club is rejected by society at large. – Khaled A. What is the COVID-19 outlook in your town? Can the status quo change back from greed to free enterprise, as Khaled believes? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… Latest tech investment is so confidential, we had to find a backdoor way in As a former tech executive and current angel investor, Jeff Brown has made a fortune betting on the next big thing – before it happens. Now he believes he's found the next great tech investment – on the verge of a profit explosion. And this time he's found a backdoor way to get in. Click here to watch his latest video. 
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