| By Bill Bonner Friday, October 2, 2020 – Week 29 of the Quarantine SAN MARTIN, ARGENTINA – In the 1950s, Tommy d’Alesandro put together the Democratic machine in Baltimore – then headquartered in Lil’ Italy (pronounced Lil It-lee). His daughter Nancy (now Pelosi) was a pretty girl. Smart and tough, too. She went to Washington in 1963 to work as an intern in the office of Senator Daniel Brewster. She knows the place well. Meanwhile, Fred Trump built a middle-brow real estate empire. He set up his son Donald in an apartment deal in the early 1970s – giving the kid a million dollars a year in income. Mitch McConnell went to Washington more than half a century ago to work for Senator Marlow Cook. Except for a brief stint at a Kentucky law firm, he never left. Joe Biden, ditto… In a flukey election in 1972, he became a U.S. Senator from the state of Delaware, just weeks before his 30th birthday. Anthony Fauci got a job at the National Institutes of Health in Bethesda in 1968. He’s been living off the federal government ever since. These were the lucky ones… the elite. They gained fame, fortune, power, and status early on… and never gave it up. And now, aging… listening to the Grateful Dead in their private moments… shored up by botox, hair coloring, and Viagra… as needed… they are desperate to hang on to the world that has been so good to them. | Recommended Link | | Apple pays $30 million per month for mysterious "6G" network? 5G has barely hit the market… And already there is something more powerful. A combination of technologies that takes regular 5G – and turbocharges it. In fact, the new technology is so superior to consumer 5G… Angel investor Jeff Brown believes we are looking at what he calls an "early version" of the 6G network… The next level up in speed, processing, and computing power. And right now, the biggest companies in America are paying a king's ransom to get access. Apple is paying $30 million every month to use this early 6G network. Facebook forks over $11 million per month for private access. And Netflix spent $19 million a month during the pandemic. The list of groups paying for 6G access doesn't stop in the corporate world. NASA, the U.S. Department of State, the USDA… The European Space Agency… Even the world-famous British Broadcasting Corporation (BBC)… All are currently using this explosive early 6G network. In total, as many as 100,000 of the world's most successful companies are paying a fortune to get early access to the next level of network speed: 6G One company runs this special 6G operation. In fact, Jeff believes this 6G pioneer is the most important tech company in the world. Some folks even think this company's owner could soon become the world's first trillionaire. In this video, Jeff is going to show you how to make a fortune because of 6G. | | | -- | Signs of Weakness But the world they built is a counterfeit one. And it’s getting harder and harder to hold it together. Here’s Bloomberg: Manhattan apartment rents plunged last month by the most in nearly nine years. That’s only one sign of weakness for the borough’s leasing market. […] The median rent, with concessions such as free months factored in, plummeted 10% to $3,167. It was the biggest rate of decline in records dating to October 2011. While renters flee New York, their jobs are on the run, too. From The Washington Post: Layoffs still piling up as jobless claims remain stubbornly high 837,000 Americans sought unemployment benefits last week, the Labor Department said Thursday. […] Another 650,000 people had new claims processed for Pandemic Unemployment Assistance last week, the program for self-employed and gig workers, up slightly from 630,000 the week before. The total number of people claiming unemployment insurance ticked up slightly, to 26.5 million for the week ending Sept. 12. Do You Know About "Tech Royalty" Investing? Sellout We are exploring the sellout of America by its geriatric elite. They launched wars against drugs, poverty, terrorism, a virus… and especially, against honest money. The wars benefited the warriors, shifting power, status… and about $30 trillion… to the elite over the last 30 years. But the more they scam, the more they have to scam to keep the jig up… …and the more angry people they leave behind. After Federal Reserve chief Paul Volcker “rescued” the system in 1980, the resulting fake dollar and fake interest rates produced fake wealth on a scale the country had never seen before. The Dow rose 29 times. But the wealth was heavily concentrated in the richest zip codes. The rest of the country got, relatively, poorer. Factory jobs decamped to China and Mexico. The old machinists, welders, and hot roll handlers in Gary, Detroit, Mansfield, and St. Louis were left behind. Now, they live in shabby neighborhoods… on disability, if they can get it… reminiscing about the good ol’ days. Wealth migrated from the towns where people made things to the towns where people just made money. Like Manhattan, where apartment prices rose four times since the beginning of this century. And there, people made plenty of money, thanks to the Fed’s war on honest money. | Recommended Link | | How the 1% Are Prepping for the Election Hedge fund legend Teeka Tiwari predicts a pre-election anomaly is about to rip through the market. The 1% are preparing for it. You should be, too. When this very unusual anomaly rips through the market on October 8th… It will give the 1% (and you, if you know about it) the ability to pull forward up to 39 years' worth of profits… | | | -- | Five Assaults The Fed launched five major assaults. There were three waves of interest rate cuts – 1989-1992, 2000-2003, and 2007-2008 – along with a $3.6 trillion heavy artillery barrage after the crisis of 2008-2009 and $3 trillion more to fight the COVID Shutdown. Almost every penny went to the richest, oldest 10% of the country… leaving 90% of the population behind. This COVID Shutdown – another attempt to protect the old at the expense of the young – forced much of the economy onto the internet, leaving behind millions of face-to-face, hand-to-mouth workers. Waiters, parking lot attendants, landlords in some areas, clowns in Disney World, strippers in Las Vegas… whole industries were decimated. Many people will never get their jobs back. They have been left behind, perhaps permanently. The One Big Threat You Face on November 3rd. No Complaints Meanwhile, the Boomer Elite… bless their hearts (including your editor and many of his Diary readers)… is living high on the hog. Maybe we weren’t as lucky as The Donald or The Nancy, but we can’t complain. We went to college. We avoided the assembly lines and shop floors. We punched a keyboard, not a time clock… And come the coronavirus… we could work from home. And we made investments… partaking of the great promise of degenerate American capitalism – that the government would make sure we didn’t lose money. As often chronicled in this space, three times this century, the markets have tried to correct… and three times, the Federal Reserve has fought back, making sure the wealthy elite retained its ill-gotten gains. And then, just to make it better for ourselves… we can move to a Zoom Town. That’s right, we can leave behind the whole complex of crime, poverty, job losses, politics, and social disruption… and live far enough away from the big city, where it is safe, beautiful, and pleasant… but still with enough bandwidth to let us “visit” with our children and grandchildren… and carry on with the rump ends of our careers. Left Behind And now… here we are. We save more than ever (what is there to spend money on?) We enjoy more time at home. Nobody asks us to get on a plane… to come into the office… or even attend a dinner party. We boomers have left behind the factory workers. We’ve left behind the Old Economy and its hourly wage earners. We’ve left behind the towns where we were born. We left behind the old folks when we set off to make our careers… And now, we leave behind our own children as we head for comfy retirement in Idaho or North Carolina (paid for by the next generation!)… But wait… you say the biggest “Left Behind” is still ahead? You say we’ve been promised $210 trillion (according to professor Lawrence Kotlikoff) in pension and medical benefits that can’t possibly be paid? You say the feds already spend two dollars for every dollar they collect in taxes? You say the millions of left-behind people are losing faith in the “social contract”? You say that our geezer elite won’t be able to keep this up much longer… and that we may be left behind, too? Stay tuned… Regards, Bill
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The global economy is trapped in an unstable, unsustainable, fake-money cycle. Investors are beginning to understand this and have begun to move their wealth to safe havens, as evidenced by a rising gold price. Here’s how you can play it… MAILBAG Praise for Wednesday’s Diary, “Boomer Elite Faces Day of Reckoning”… and one dear reader gives his take on the government’s “medical care giveaways”… Truly a legend at your spot-on analysis of our current affairs, and as expected, you’ve hit this one out of the park. The time of reckoning is truly at hand, and the writing is on the wall. The trillion-dollar question is: How many of us are awake to (or even care about) this obvious fact staring us in the face? All the best to you and the team at the Diary. – Paul L. My wife and I will be turning 65 soon and will be required to go on Medicare. Currently, we pay roughly $25,000 annually for private health insurance. On Medicare – with Part B coverage and supplemental plans for copayments/deductibles/drugs – our premiums for both of us will be about $8,000/year. At first, I, too, thought it was a GREAT deal! Until, that is, I looked back on my total Medicare tax withholdings through time and realized I’d already paid in over $450,000 for this coverage (more than I paid in lifetime Social Security taxes). At least in our personal case (and probably for many readers), Medicare certainly isn’t a “giveaway”… It’s a screw job. – Patrick M. Meanwhile, another dear reader thinks Bill gives the political elite too much credit… These knuckleheads can't figure out anything, quite frankly. They're not that smart or devious (in the most evil sense of the word). In my opinion, they are the proverbial "puppets on a string." These bozos are just treading water waiting for the next handout... and in their world, a "handout" means millions of bucks to keep the scams running full tilt, despite logic and true science. – Marc L. What is your take on Medicare in the U.S.? Are the political elite “puppets on a string”? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… This has never returned less than 400% over 4 years Something big is happening in America… and almost no one is paying attention. A completely misunderstood asset is transforming our world--and making people rich (Barron's estimates at least 20,000 people). A multimillionaire has written a fascinating analysis, and posted it free on his website here… Click here for more info. 
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