Thought for the day

The decline of a currency’s world reserve status is often a long process rife with denials. There are numerous economic “experts” out there that have been dismissing any and all warnings of dollar collapse for years. They just don’t get it, or they don’t want to get it. The idea that the US currency could ever be dethroned as the defacto global trade mechanism is impossible in their minds.

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Yellen wanted this to be the best of all possible worlds, but the best world she could conceive of was terrible.

In June 1996, Janet Yellen — then a member of the Federal Reserve Board of Governors, later chair of the Fed herself, and currently secretary of the Treasury — wrote an extraordinary memo to then-Fed Chair Alan Greenspan. Anyone who wants to understand how the world works should read it, and thank Tim Barker, a historian who obtained it via the Freedom of Information Act.

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I took a drive down Mission street and saw tent after tent, person after person sleeping on the sidewalk.

The Tenderloin & SOMA were the same.

FiDi didn't have any tents (probably because the high-end property managers send in power washers at night).

It was beyond sad. 

Some California politicos are proposing an additional “wealth tax” on the state’s richest residents.

And while many of you will laugh at my pain, the Democrats want this tax enacted nationally…so it concerns you, too.

Have you heard about this thing called ESG? Most people have not. It stands for Environmental Social Governance. On its surface, ESG claims to have a well-intended objective — to promote corporate responsibility. And that sounds like something we can all support.

President Andrew Jackson and an Outrageous Crime Inflicted on the Next Generation MikeRivero Wed, 01/25/2023 - 11:05

It’s hard to believe the United States government was ever debt-free.

But it happened once—in 1835—thanks to President Andrew Jackson. He was the first and only president to pay off the national debt completely.

One biographer says the former president viewed debt as a “moral failing,” a sort of “black magic.”

When he became president, Jackson was determined to rid the US of its national debt. After all, debt enslaves you to your creditors.

Los Angeles Extends Rent Protections After COVID-Era Moratoriums Set To Expire MikeRivero Wed, 01/25/2023 - 09:27

The Los Angeles City Council voted unanimously Jan. 20 to make some COVID-era protections for renters permanent, less than two weeks before they were set to expire.

“Today was a huge victory,” recently-elected Councilmember Katy Yaroslavsky posted to Twitter after the vote.

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