Sunday, September 06, 2020

In the Footsteps of Rome: Maybe It No Longer Matters Who's Emperor

Pretense and PR are not reality, and believing the Old Normal will magically be restored with sacrifice-free Federal Reserve printing is not an actual strategy.
Quick history quiz: who was the second-to-the-last Emperor of the Western Roman Empire? How about the third-to-the-last? Answers: Glycerius, 473-74 A.D. and Julius Nepos, 474-475 A.D. The last emperor was the grandly titled Romulus Augustus, who reigned less than a year until the whole shebang disintegrated in 476 A.D.
You get the point: when the momentum of collapse crosses the Event Horizon, it no longer matters who claims the title of Head Snake; the collapse is beyond the control of any individual or agency.
So when I hear the most important election in history, last chance for democracy, etc. I hear blah-blah-blah because we're following the footsteps of Rome's collapse to a T. As I explained in How Nations Collapse: Disunity (8/20/20), profound disunity between classes and within power elites is the key driver of collapse, as all the energy required to make the perilous, radical changes needed to save the system are squandered on in-fighting and jockeying for control of the dwindling centralized power.
The final generation of Romans also preferred pretense to reality. The last Roman elites found solace in Rome's past glories, as if it was inevitable that something or other would magically restore Rome's power and stability without any sacrifices being made by the elites or the public.
Today we hear the shrill, keening cries for the pretense of unity: since actual unity has been lost, then public-relations pretense is the best the elites can manage.
just as in the waning days of the Western Roman Empire, the elites got overly greedy and complacent--a fatal combination. America's billionaire class and the New Nobility just below the billionaires have scooped most of the economy's gains since 2008, and paid either zero or low taxes. (Just ask Mr. Gates how to make your fortune tax-free via philanthro-capitalist foundations that are simply other avenues for achieving the same dominance.)
Once you have a Big Tech monopoly, the political influence to protect your monopoly, and the Federal Reserve juicing stocks, junk bonds, etc., then your greed has no limit. Just as in Rome's waning days, the super-wealthy evade taxes and indeed, any sacrifice. Whatever wealth remains is sluiced into the coffers of the super-wealthy while the citizenry pay the price via the destruction of social mobility, higher taxes and a fast-decaying real economy.
The power elites are complacent, as they believe manipulating top-heavy bureaucracies and captured central bankers is the only skillset needed. Creating value or real-world goods and services? Why bother when the real money is made in corruption, fraud and legalized looting?
America squandered its last chance to make the necessary sacrifices and radical systemic changes in the 2008 Global Financial Meltdown. The power elites bailed themselves out at the cost of systemic stability, and now the dominoes are finally falling.
Human Wetware 1.0 hasn't changed since 473 A.D. and so our elites are filled with the same complacent hubris as the last batch of greedy, entitled, overly impressed with their wealth and power elites of Rome.
The Fed will continue to bail out all those whose self-serving greed undermined the republic, and print trillions to distribute bread and circuses to placate the milling mob, thereby destroying the value of the bread and the last pretenses of a "market economy."
Rather than face the need for a radical from-the-ground-up reformation of the political-economic system, our elites have focused on increasing their already destabilizing wealth and power and taking down their elite rivals.
As a result, there is no way to stop the dominoes from falling. Pretense and PR are not reality, and believing the Old Normal will magically be restored with sacrifice-free Federal Reserve printing is not an actual strategy.
Recent Podcasts:
The Ochelli Effect 8-31-2020: first half: Charles Hugh Smith 2nd half: Terry Tapp
Money and Work Unchained $6.95 (Kindle), $15 (print) Read the first section for free (PDF).


If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com.

NOTE: Contributions/subscriptions are acknowledged in the order received. Your name and email remain confidential and will not be given to any other individual, company or agency.
Thank you, Royce M. ($150), for your beyond-outrageously generous contribution to this site -- I am greatly honored by your steadfast support and readership.
 
Thank you, Eliot E. ($5/month), for your superbly generous pledge to this site -- I am greatly honored by your support and readership.

Terms of Service

All content on this blog is provided by Trewe LLC for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information. These terms and conditions of use are subject to change at anytime and without notice.


Our Privacy Policy:


Correspondents' email is strictly confidential. This site does not collect digital data from visitors or distribute cookies. Advertisements served by a third-party advertising network (Investing Channel) may use cookies or collect information from visitors for the purpose of Interest-Based Advertising; if you wish to opt out of Interest-Based Advertising, please go to Opt out of interest-based advertising (The Network Advertising Initiative). If you have other privacy concerns relating to advertisements, please contact advertisers directly. Websites and blog links on the site's blog roll are posted at my discretion.


PRIVACY NOTICE FOR EEA INDIVIDUALS


This section covers disclosures on the General Data Protection Regulation (GDPR) for users residing within EEA only. GDPR replaces the existing Directive 95/46/ec, and aims at harmonizing data protection laws in the EU that are fit for purpose in the digital age. The primary objective of the GDPR is to give citizens back control of their personal data. Please follow the link below to access InvestingChannel’s General Data Protection Notice. https://stg.media.investingchannel.com/gdpr-notice/


Notice of Compliance with The California Consumer Protection Act


This site does not collect digital data from visitors or distribute cookies. Advertisements served by a third-party advertising network (Investing Channel) may use cookies or collect information from visitors for the purpose of Interest-Based Advertising. If you do not want any personal information that may be collected by third-party advertising to be sold, please follow the instructions on this page: Do Not Sell My Personal Information


Regarding Cookies:


This site does not collect digital data from visitors or distribute cookies. Advertisements served by third-party advertising networks such as Investing Channel may use cookies or collect information from visitors for the purpose of Interest-Based Advertising; if you wish to opt out of Interest-Based Advertising, please go to Opt out of interest-based advertising (The Network Advertising Initiative) If you have other privacy concerns relating to advertisements, please contact advertisers directly.


Our Commission Policy:

As an Amazon Associate I earn from qualifying purchases. I also earn a commission on purchases of precious metals via BullionVault. I receive no fees or compensation for any other non-advertising links or content posted on my site.

  © Blogger templates Newspaper III by Ourblogtemplates.com 2008

Back to TOP