Why Our Economy May Be Headed for a Decade of Depression

 

When you reshore, you are moving production from regions of the world like China, and other parts of Asia, that have low labor costs, to parts of the world like the U.S. and Europe that have higher labor costs. That is a fact. How is the corporate sector going respond to that? It’s going to respond by replacing labor with robots, automation, and AI.

I was recently in South Korea. I met the head of Hyundai, the third-largest automaker in the world. He told me that tomorrow, they could convert their factories to run with all robots and no workers. Why don’t they do it? Because they have unions that are powerful. In Korea, you cannot fire these workers, they have lifetime employment.

But suppose you take production from a labor-intensive factory in China — in any industry — and move it into a brand-new factory in the United States. You don’t have any legacy workers, any entrenched union. You are going to design that factory to use as few workers as you can. Any new factory in the U.S. is going to be capital-intensive and labor-saving. It’s been happening for the last ten years and it’s going to happen more when we reshore. So reshoring means increasing production in the United States but not increasing employment. Yes, there will be productivity increases. And the profits of those firms that relocate production may be slightly higher than they were in China (though that isn’t certain since automation requires a lot of expensive capital investment).

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And then there’s the pandemics. These are also man-made disasters. You’re destroying the ecosystems of animals. You are putting them into cages — the bats and pangolins and all the other wildlife — and they interact and create viruses and then spread to humans. First, we had HIV. Then we had SARS. Then MERS, then swine flu, then Zika, then Ebola, now this one. And there’s a connection between global climate change and pandemics. Suppose the permafrost in Siberia melts. There are probably viruses that have been in there since the Stone Age. We don’t know what kind of nasty stuff is going to get out. We don’t even know what’s coming.

https://nymag.com/intelligencer/2020/05/why-the-economy-is-headed-for-a-post-coronavirus-depression-nouriel-roubini.html

 

The new Red Guards

Just finished Wild Swans, over 700 pages of densely-packed print but a real page-turner nonetheless. It traces the experiences of a Chinese family spanning three generations up to the late nineties. The author’s description of life during Mao’s Cultural Revolution was particularly harrowing. And instructive because of the similarities between what happened then under the Red Guards and is happening now under the Woke Generation.

Guilt was no longer determined by the rule of law, the presumption of innocence (such as it was) abandoned. Replaced by mob denunciation arising from a perceived lack of ideological purity, or something you said a long time ago, or somebody now out of favour in whose company you were once seen. Just like today in the West ritual denunciation was followed by grovelling confessions – which were never enough. In fact as we see with today’s “liberals” such grovelling – for some reason – seems only to elicit even greater fury, fuelling demands for re-education but with no guarantee of rehabilitation. Humiliation was a powerful weapon, breaking the spirit of even the most resilient. And the more truthful and accurate the defence the more frenzied became the torment, reminding us of Orwell’s “The further a society drifts from the truth, the more it will hate those that speak it”.

https://www.theoccidentalobserver.net/2020/05/20/the-new-red-guards/

There’s No Longer Any Question: Biden Carried Out a Cover-Up in Ukraine

Andrew Korybko

Trump stands vindicated for accusing Biden of trying to cover up his son’s corruption in Ukraine after one of that country’s lawmakers released audio recordings of the former Vice President’s numerous conversations with former President Poroshenko to that effect, proving that the real Ukrainegate scandal has been about the Democrat front-runner all along.

Caught Red-Handed

Ukrainian lawmaker Andrei Derkach released audio recordings that he claims to have received from journalists which convincingly sound as though they’re truly of former President Poroshenko’s numerous conversations with former Vice President and current Democrat front-runner Biden.

The content of their chats concerns the latter’s efforts to pressure the then-Ukrainian leader to remove General Prosecutor Shokin, which Trump and many of his surrogates have claimed was undertaken in an attempt to cover up his son Hunter’s corruption at the Burisma gas company where he was employed and which was the subject of an investigation by Shokin.

The recordings are remarkably frank, with Poroshenko proudly pledging fealty to Biden and regularly updating him on the progress that he’s made in keeping what he refers to as his “promises” to the former Vice President.

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Democrats = Corruption

It can only be speculated who’s really behind the leaks and why, but they’ll likely end up being extremely damaging to Biden’s campaign. He’s now been caught red-handed doing exactly what his party wrongly accused Trump of last summer, and the average American – while generally susceptible to partisan propaganda from both sides of the aisle – isn’t so stupid as to not realize that.

At the very least, these leaks confirm that the Democrats are indeed the party of corruption seeing as how they denied Trump’s original accusations against Biden but then subsequently concocted a literal conspiracy to try to impeach him once it was proven that he took tangible action to revive the investigation into Hunter’s corruption.

They wouldn’t have done something so dramatic if there wasn’t any corruption there to begin with, which makes them look even guiltier in hindsight.

https://off-guardian.org/2020/05/22/theres-no-longer-any-question-biden-carried-out-a-cover-up-in-ukraine/

LAB SCANDAL Scientist says coronavirus ‘uniquely adapted to infect humans’ and Wuhan lab must be probed over claims it leaked virus

A WORRYING scientific report claims coronavirus is “uniquely adapted to infect humans” raising fears it may have been made in a Chinese lab.

A team of top researchers have now said those looking into the origins of the outbreak should probe the possibility it “leaked” from a science hub in the city of Wuhan.

https://www.thesun.co.uk/news/11697035/scientist-coronavirus-uniquely-adapted-human-wuhan-lab/

US billionaire wealth skyrockets to over $3 TRILLION during pandemic

Over the last two months unemployment in the United States has risen to levels not seen since the Great Depression. However, US billionaires got even richer during the same period of coronavirus pandemic.

A new report by Americans for Tax Fairness (ATF) and the Institute for Policy Studies showed their fortunes soared by $434 billion or 15 percent during the nation’s lockdown between mid-March and mid-May. The billionaires’ combined net worth rose from $2.948 trillion to $3.382 trillion.

The top five US billionaires—Jeff Bezos, Bill Gates, Mark Zuckerberg, Warren Buffett and Larry Ellison—saw their wealth grow by a total of $75.5 billion, or 19 percent. Together they captured 21 percent of the total wealth growth of all 600-plus billionaires in the last two months.

The fortunes of Amazon’s Bezos and Facebook’s Zuckerberg together grew by nearly $60 billion, or 14 percent of the $434 billion total. In March there were 614 billionaires on the Forbes list, and 630 two months later, including newcomer Kanye West at $1.3 billion.

Tesla’s Elon Musk had among the largest percentage gain of billionaires during the two months, seeing his net worth jump by 48 percent in the period to $36 billion.

The report noted that during that same approximate period, more than 38 million working Americans lost their jobs, nearly 1.5 million Americans got infected with the virus and more than 90,000 died.

https://www.rt.com/business/489466-billionaires-wealth-growth-pandemic/

French industrialist calls for 5G MORATORIUM amid Covid-19, conspiracy theories and burning of masts

The CEO of French telecoms firm Bouygues has called on the government to postpone auctions for 5G frequencies, citing the ongoing coronavirus pandemic and public mistrust of the technology.

France is planning on auctioning 5G frequencies to telecoms companies at the end of the summer. However, Martin Bouygues, head of the eponymous communications firm, now thinks that bidding should be pushed back to the end of the year at the earliest.

Aside from claims that Chinese firms like Huawei could use 5G hardware to relay secrets to the government in Beijing – pushed by the Donald Trump administration in Washington and denied by Huawei and China – 5G has become a target for conspiracy theorists the world over. Fueled by some lingering uncertainties over the potential health consequences of 5G’s short wavelength transmissions, skeptics have claimed that 5G masts can trigger anything from cancer to Covid-19.

https://www.rt.com/news/489596-france-coronavirus-5g-postpone/

Murdered Chinese Ambassador Tried to Defect?

Adding to a string of suspicious coronavirus events and deaths, is the ‘sudden mysterious death’ of healthy-seeming, age in late 50s Chinese ambassador to Israel Du Wei, at his home in Herzliya near Tel Aviv on 17 May.
 
This was just 4 days after US Secretary of State Mike Pompeo broke international quarantine to visit Israel on 13 May.
And shortly after Du Wei had publicly criticized Pompeo’s aggressive charges accusing China of guilt in causing the global ‘covid-19 pandemic.’
 
Before arriving in Israel, Du Wei had previously China’s ambassador in hotspot Ukraine during 2016-19, he maybe had many stories to tell.
 
A fascinating 4chan thread on this death, was started by a poster in Israel.

‘The American friends’: New court files expose Sheldon Adelson’s security team in US spy operation against Julian Assange

An exclusive investigation by The Grayzone reveals new details on the critical role Sheldon Adelson’s Las Vegas Sands played in an apparent CIA spying operation targeting Julian Assange, and exposes the Sands security staff who helped coordinate the malicious campaign.

By Max Blumenthal

https://thegrayzone.com/2020/05/14/american-sheldon-adelsons-us-spy-julian-assange/

WATCH: Bill Gates and the Population Control Grid

The takeover of public health that we have documented in How Bill Gates Monopolized Global Health and the remarkably brazen push to vaccinate everyone on the planet that we have documented in Bill Gates’ Plan to Vaccinate the World was not, at base, about money.

The unimaginable wealth that Gates has accrued is now being used to purchase something much more useful: control. Control not just of the global health bodies that can coordinate a worldwide vaccination program, or the governments that will mandate such an unprecedented campaign, but control over the global population itself.

https://off-guardian.org/2020/05/18/watch-bill-gates-and-the-population-control-grid/

https://youtu.be/igx86PoU7v8