| By Bill Bonner Tuesday, December 15, 2020 WEST RIVER, MARYLAND – It’s a “zombie recovery,” says Bloomberg. “Much of the economy remains in suspended animation – a zombie recovery – that masks how much the crisis has curtailed ambitions and how much depends on a new injection of government aid that has languished for months in a partisan Congress.” By the end of the year, U.S. GDP is expected to be 3% below its 2019 level. Worldwide, GDP is down 4% for the year. Shuffling from free food to free money… a vacant look in their eyes… a face mask to hide the trickle of blood dried up on their chins – zombies are everywhere. Zombie companies. Zombie households. Zombie officials. What is the "1170" Investment Account? At the present rate of new job creation in the U.S., it will take at least three more years to get back to last year’s employment level. And at the end of this week, some 12 million zombies are scheduled to lose their supplemental federal unemployment benefits. Naturally, the feds are running fast, trying to keep ahead of them. Yes, Democrats and Republicans are finally working together to keep the blood flowing. There are still some details to work out. Some want a $1,200 check for everyone. Others want to give grants to state and local governments. Most likely, the two groups will come to terms before the week is over. | Recommended Link | | Urgent Message! Bitcoin is on a tear. It has risen nearly 275% this year… And soon, it could reach record highs. Recently, crypto expert Teeka Tiwari uncovered a company that is willing to pay you interest in the form of Bitcoin… At rates up to 6%! That’s 120 times what you would get with a traditional savings account right now. | | | -- | Zombie Town Baltimore, always a bit like the Night of the Living Dead, is now more zombified than ever. Yesterday, we made our first visit to the office in 10 months. There was almost no one there. Baltimore has shut down. Restaurants, bars – everything is closed, by order of the new mayor. The coffee shops are off-limits to sit-down customers. But you can still get a cup of coffee to go. Or so we thought. We tried one. “Closed on Mondays,” said the sign in the window. So we went to another. “You have to order online” said the barista. “Well, I’m standing right in front of you. Can’t you make me a cappuccino? “Our systems aren’t set up for that.” We turned around in low dudgeon. We could probably get out our smartphone and figure out how to do it. But it was such ghoulish customer service, we wanted nothing to do with it. | Recommended Link | | LEAKED! Pelosi's Scary New "Money Plan"… Nick Giambruno, of Casey Research, just got his hands on a leaked plan from Speaker of the House Nancy Pelosi… And it’s downright scary. If you’ve got over $5,000 in a U.S. bank, credit union, or in a retirement account… You are at risk. The idea behind Pelosi’s plan has the backing of Bill Gates, the Clinton Foundation, Visa, J.P. Morgan… Even the Federal Reserve is getting ready for “the Switch.”
All evidence suggests it will get underway January 1, 2021.
| | | -- | Customary Corruption Meanwhile, over in the zombie capital – Washington, D.C. – life goes on as usual… That is to say, with the customary corruption, venality, and imbecility. Treasury Secretary Steven Mnuchin was called on last week to explain why he lent the public’s money to a zombie trucking firm. The company scored a $700 million loan. Its owners also lent more than $100 million to the presidential in-laws, the Kushner family. A lawyer for the COVID-19 Congressional Oversight Commission questioned Mnuchin: We have a fast-tracked, extremely generous loan that just so happened to help the private equity giant, Apollo. So Mr. Secretary, were you aware before you made this loan that Apollo has close personal ties to Jared Kushner, the president's son-in-law and senior advisor? Mr. Mnuchin said he was not. Viral: 1.3 Million Folks have Already Seen This Message. Meanwhile, the president-elect’s son, Hunter, is under investigation. Here’s CNBC: [He] revealed Wednesday that he is under investigation for his “tax affairs” by federal prosecutors in Delaware. Hunter Biden said in a statement, “I learned yesterday for the first time that the U.S. Attorney’s Office in Delaware advised my legal counsel, also yesterday, that they are investigating my tax affairs.” Mr. Biden’s desk is where the buck is supposed to stop. But in practice, the bucks fly all over town. | Recommended Link | | Free stock pick There’s nothing extraordinary about this stock… except it continues to have the potential to generate money. And today, master trader Jeff Clark is giving away its name and ticker, completely free. | | | -- | Revolving Door Biden says he is aiming for “diversity” in his cabinet picks. For the Defense Department, for example, he was expected to nominate a woman. But his first choice, Michèle Flournoy, is such a horrible warmonger, even his own Congressional cronies threatened to block her. Biden had to find another zombie. His new pick, Lloyd Austin, is Black, so he checks the box for “diversity.” But he’s still a member of the same Deep State tribe. POGO.org reports: [Lloyd Austin] sits on the board of Raytheon, one of the top five contractors for the Department of Defense. In that role he has received $1.4 million in compensation since joining the board in 2016. He is also a partner at Pine Island Capital Partners, a private equity firm that boasts “a group of deeply-connected and accomplished former senior government and military officials.” In layman’s language, they leverage the revolving door between the government and private sector to try to get more contracts for their clients. Lately, the revolving door between government and crony industry is spinning so fast, the slow-moving zombies almost lose their limbs. The story continues: That’s what happened with William Lynn, the first deputy secretary of defense under President Barack Obama. Obama pledged he wouldn’t have any lobbyists in his administration, and then he nominated former Raytheon lobbyist Lynn, issuing him the first waiver. (Lynn wasn’t the only one; the Washington Post counted 65 former lobbyists in the Obama administration as of August 2014.) It’s little surprise that when Lynn left the government he went right back into the defense industry as the chief executive officer for DRS Technologies, which, while not a top contractor, still did $1.1 billion in business with the Pentagon the year Lynn joined the company. [EW5] Zombies to the left of us! Zombies to the right of us! Zombies in front of us! Welcome to the new Zombie Republic. Regards, Bill P.S. If you’re looking for a Christmas gift, we have a recommendation. It’s a book called The Essential Classics. With all the trivial, nonsensical, and zombified diversions available on Twitter, Facebook, and Instagram, this 644-page book of Greek and Roman classics is a welcome relief. We published it several years ago, in connection with our Paris-based company, Les Belles Lettres, and gave the remaining copies to a friend who struggles to keep the flame of “classical wisdom” alight. A few copies are still available. And if orders are received today or tomorrow, we’re told the books should arrive before the holiday. Click here for more details.
Like what you’re reading? Send your thoughts to feedback@rogueeconomics.com.
FEATURED READS Warren Buffett’s No. 1 Investment Could Help You Save For Retirement
Stocks aren’t always the best way to save for retirement. In fact, many people who use them to build their nest egg end up losing money in the long run. So what’s the solution? A private investment – well known to be a favorite of Warren Buffett’s – that you can access through your brokerage account… Doug Casey on the Implications of Collapse
Bill’s longtime friend and colleague Doug Casey believes America is in for a “grim and tumultuous decade” ahead. He discusses the investment implications of economic collapse… the industries that will be affected… and the resource that can help you prepare… MAILBAG Monday’s Diary brought one dear reader back to their own childhood… Bill: I grew up in rural Maryland, and could truly hear my second-grade teacher, Mrs. King, speaking the words you wrote. Thanks for the memory. – Robin D. Another strongly believes Trump’s presidency isn’t over… Trump will return with a vengeance in the next few days and nobody will see it coming, except the ever-Trumpers. And rightly so, because all the others are dumb or traitors. Watch all of them cry about what happened… but who wants communists/socialists that turn the country over to China on a silver platter? Good riddance to people who have no character and no willpower. – William C. Still, another is fed up with Bill’s take on science… I have to say I have been so colossally frustrated with your facile (the word clueless comes to mind, but I’ll stick to the high road) discussion of science, I hardly know what to say. Perhaps the simplest observation I can make is that your understanding of science is based on the all-or-nothing premise, namely, that if a scientific theory does not yield a 100% result, it is to be ignored. This sort of thinking leads to such dangerous practices, such as refusing to wear seat belts, because someone, somewhere, supposedly drove into a lake and drowned because they couldn’t get their seat belt detached. The issue, I shouldn’t have to point out, isn’t that this has never happened, rather that for every such incident, there are hundreds of others where people have survived accidents as a result of being restrained. It is bad enough that people reject measures statistically likely to protect them (i.e., based on science), but even worse that they band together, asserting their right to do so in the attempt to recruit others to their cause. The Constitution was never intended to give people the right to step on other people’s toes. – Dave H. And finally, one dear reader laments the falling value of the U.S. dollar… Bill, I am well aware that a 2020 dollar buys less than a 1913 penny. The “inflation tax” hurts people. And they keep electing the same jerks who’ve been doing this to us for over a century, because they don’t see what’s been happening. They think they’re thriving because they get more dollars, but they ignore the fact that the dollars buy less and less. I know you’re trying to get people to understand this, but I don't know if they will ever get it. Thanks for trying anyway. – Wendell H. Is an “all-or-nothing” premise of science dangerous, as Dave believes? How have you noticed dollar depreciation in your own life? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… The Name Of Jeff Brown's #1 Private Biotech For 2021 Is… During his The Cure Event, Jeff Brown revealed the name of his #1 private biotech company. Within a matter of weeks, this biotech could IPO and make investors a small fortune. Hurry, replay will deactivate midnight tonight. Click here to learn the name for free (no purchase necessary). 
Get Instant Access Click to read these free reports and automatically sign up for daily research. | 
No comments:
Post a Comment