1935. Hernshaw West Virginia
Men and women of my age are the last fully schooled generation. What are we to feel other than contempt for these intellectually bedraggled victims, not of their beloved sexism and racism but of a demented egalitarianism that thinks that pretending that everyone is educated is better than allowing those capable of it to be so. How much sense does this make?, says Fred Reed in this article, How We Were Before Night Fell, at Fred On Everything.
Intelligent people who would never act so foolishly
in any other venue have collaborated in the suppression of information
about black-on-white violence, black cultural pathologies, and blacks'
hatred of whites. I have a special animus for "journalists" who have
done so; their betrayal of their occupational responsibilities played a
large part in bringing us to where we stand today.
Californians seem hell-bent to escape the mess
they have made of their state. They run to other states complaining of
the disaster they are escaping. And then they proceed to vote for the
same taxation and regulatory policies that screwed up California...
these new immigrants are plague carriers, bringing the virus of
out-of-control state power to heretofore only mildly infected states.
Spiral - Given the razor's edge the financial system now teeters on, analysts estimate a Treasury Bond interest rate of 3.5% is about where a death spiral begins. Of all the 10-year Treasuries held in the world, the Federal Reserve owns a bit less than a third. Should the interest rate tick up toward its normal 4% to 6%, the Fed would need to "print money" just to break even, meaning more bonds need to be issued to put it into play. What seemed "manageable" is transformed into a runaway, self-compounding event. Rising interest rates also trigger serious effects outside the bond market. Derivative implosions, for one. The spiral starts when buyers see the Fed losing control of artificial low rates, which is where they get the 3.5%. The spiral ends when the entire federal budget goes to pay interest. The numbers suggest this could take only a few months, start to finish. Somewhere near the final rollover look for near-total wealth destruction when seizes nominally private accounts—retirement, savings, checking or what have you, partly on the theory private transactions are criminal transactions until proven otherwise. But mainly because the and South America have shown them they can. And what they can do, they will do.
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