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Could be so massively bankrupt, says Bill Bonner.
"We have a mountain of debt... nearly $100 trillion of it... every penny of which is counted as an “asset” on the creditors’ balance sheets. Probably only about half of it is ‘money good.’ The rest may go ‘poof’ in the credit cycle’s downturn.
The safest part of this pile is US Treasury bonds. And yet, in gold terms, we’ve seen that they lost 30% of their value in the last four years... and 75% since 1999.
And we have a GDP that is largely fraudulent... with as much as half of it directed, controlled or be-muddled by government, rendering it unfit...
It’s not just Treasury bonds that pretend to have value they don’t actually have. All across the fixed-return world, there are unrecognized losses and make-believe wealth.
Here’s the FDIC warning:
'Unrealized losses on available-for-sale and held-to-maturity securities increased by $39 billion to $517 billion in the first quarter. Higher unrealized losses on residential mortgage-backed securities, resulting from higher mortgage rates in the first quarter, drove the overall increase. This is the ninth straight quarter of unusually high unrealized losses since the Federal Reserve began to raise interest rates in first quarter 2022. '
Banks were required to hold US Treasury bonds as ‘reserves.’ That, they were told, would make them more antifragile. But it did just the opposite. Treasury bonds proved to be a terrible form of ‘reserve.’ They went down, in nominal terms, by about 20% since 2020. In gold terms, they lost half again as much.
The banks also had plenty of private debt that went bad. They lent heavily to real estate developers and speculators, for example. But now, commercial real estate is not worth what it was a few years ago.
In addition to the loan losses, there are the losses on the collateral itself. Green Street reports that the ‘all-property commercial index’ is down more than 20% since 2021."
Any investment in bioscience research comes with 100% risk because one never knows if a particular strategy will produce beneficial outcomes.
Publicly traded pharmaceutical companies have a fiduciary duty to their shareholders to maximize profits and the only sure way to generate profits is through regulatory capture.
So Big Pharma just lies about its products and buys off the regulators (and the politicians and the media) every time.
The biggest profits come from giving a drug to the entire population in the name of preventive care — vaccines and now statins.
By pathologizing natural human emotions, the makers of psychopharmaceuticals also seek to sell treatments to nearly the entire population.
Causing harm increases profits by 100x or more (a single injury can produce a lifetime of profitable treatments).
Said simply, causing harm and disease massively increases the size of the market for pharmaceutical products so that’s Big Pharma’s business model today.
Dr. Toby Rogers
The “Putin apologist” smear is as omnipresent today as the same kind of smear was in 2002 in the US, deployed against anyone who questioned the wisdom of the coming war on Iraq. It’s designed to shut down thought. As usual, Hungary is the one dissenter from the EU consensus.
Rod Dreher
The case for getting out of NATO encompasses four fundamental propositions:
First, the Federal budget has become a self-fueling fiscal doomsday machine, even as the Fed has run out of capacity to monetize the skyrocketing public debt.
Second, the only viable starting point for fiscal salvation is slashing the nation’s elephantine Warfare State by at least $500 billion per year.
Third, the route to that end is a return to the “no entangling alliance” wisdom of the Founders, which means bringing the Empire Home, closing the 750 US bases abroad, scuttling much of the US Navy and Army and withdrawing from NATO and similar lesser commitments elsewhere.
Fourthly, jettisoning NATO requires debunking its Origins Story and the false claim that it brought peace and security to post-war America when what it actually did was transform Washington into the War Capital of the World, dominated by a panoptic complex of arms merchants, neocon warmongers and a vast Warfare State nomenklatura.
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