“They found that 9 of the 15 known Earth tipping elements that regulate the state of the planet had been activated, and there was now scientific support for declaring a state of planetary emergency. These tipping points can trigger abrupt carbon release back into the atmosphere, such as the release of carbon dioxide and methane caused by the irreversible thawing of the Arctic permafrost.
“‘If damaging tipping cascades can occur and a global tipping point cannot be ruled out, then this is an existential threat to civilization.'”
So why exactly hasn’t the Fed been able to hit their inflation target regardless of the trillions of dollars they’ve created?
Well, other than the dollar being a safe-haven, there are two other main reasons, and an oppositional force:
1 — Inequality. The US already has an extremely top-heavy economy. Not only do the majority of gains go to the top, but much of this newly created money never leaves the hands the wealthy and the giant corporations. When they make investments, it stays at the top; when a corporation performs a stock buyback, it stays at the top: when a wealthy individual saves (hoards) it, it stays at the top. As millionaire Nick Hanauer told us in his famous “The Pitchforks Are Coming…”, article, that he “earns 1,000x more than the median American”, but his family bought three cars in recent years — not 3,000.
Consumer spending by a handful of extremely wealthy individuals is not enough to grow the real economy. If that money doesn’t make it to the real economy where most of us operate, it does absolutely nothing to stimulate growth or inflation.
2 — Money destruction. In the wake of this COVID-19 pandemic, we are seeing record numbers of business closures, personal bankruptcies, and defaults on debts. Because of the way our currency is literally born as debt, when a mortgage or a loan cannot be repaid and has to be written off, that amount actually disappears from the US money supply.
In fact, even if you are a good steward and you pay off your debt, the same exact thing happens — the money gets canceled out on the balance sheet.
Beyond that, for those of us lucky enough to be financially stable during this tumultuous time, if you took that $1,200 stimulus check and squirreled it away as savings, it obviously does not circulate into the economy — and therefore provides no growth, let alone count toward inflation.
The only thing that causes economic growth is spending. When people are scared, they save. When people are broke, they cannot spend. When people are worried about their debts and they pay them off, nothing measurable comes from it in the eyes of economists.
So because of the tremendous inequality that persists and is getting worse in the United States, coupled with the tsunami of bankruptcies, foreclosures and business closures canceling out a big chunk of the money supply, Big Daddy Fed simply can’t keep up — it can print and print to no avail. All that money might as well be going into a hole in the ground.
“Early humans were smart enough to farm. All groups of modern humans have similar levels of intelligence, suggesting our cognitive capabilities evolved before these populations separated around 300,000 years ago, then changed little afterwards. If our ancestors didn’t grow plants, it’s not that they weren’t clever enough. Something in the environment prevented them – or they simply didn’t need to.”
“When I say ‘The Mother of All Social Collapses,’ I mean it. Trump’s America is a society that combines all the strands of social collapse that we know of — and then some. Yes, really.
Economically, Trump’s America is Soviet. Politically and socially, it resembles Nazi Germany. And culturally, it’s Taliban-esque, aggressively retrograde. That’s a lot of ruin for one country…”
“According to Worldwatch Institute research associate, Erik Assadourian, such laws are important in combating global warming. “It’s not simply greenhouse gases that cause climate change—it’s our consumer lifestyle that causes the greenhouse gases that cause climate change,” he notes. “Until we end consumerism and the rampant advertising that drives it, we will not solve the climate crisis.”
Do you want to become a better ally to the Black Lives Matter movement but just don’t know where to start? With the plethora of resources floating around, it can almost become overwhelming to figure out exactly how to educate yourself in the most effective way. Well, you’re in luck. Because a Google Doc has hit the Internet that will provide a super structured format that is incredibly easy to follow.
The Google Doc was created by two Twitter users, Bryanna Wallace and Autumn Gupta. Their mission is called Justice in June. And it’s basically a month-long guide on how to be a better ally.
“Humans have become the most invasive species ever known. Although we are a mere .01 percent of the planet’s biomass, our domesticated crops and livestock dominate life on Earth. In terms of total biomass, 96 percent of all the mammals on Earth are livestock; only 4 percent are wild mammals. Seventy percent of all birds are domesticated poultry, only 30 percent are wild. About half the Earth’s wild animals are thought to have been lost in just the last 50 years. Scientists estimate that half of all remaining species will be extinct by the end of the century. There are no more unspoiled ecosystems or new frontiers where people can escape the damage they’ve caused and recover from collapse.”
“According to an analysis by the Grantham Institute, if the same amount of heat that has gone into the top 2,000 m[eters] of the ocean between 1955 and 2010 had gone into the lower 10 km of the atmosphere, the Earth would have seen a warming of 36°C.”
Music by Wantaways