Rachel’s Newsletter; this one focused on Rachel's COVID experience in Illinois and it was painful to read & I wanted to share her substack; both Dr. McCullough & I have been on her show
Rachel’s Newsletter; this one focused on Rachel's COVID experience in Illinois and it was painful to read & I wanted to share her substack; both Dr. McCullough & I have been on her show
Alexander COVID News-Dr. Paul Elias Alexander's Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Even the most cursory glance at economic and financial history will reveal a litany of bubbles and booms, crashes and crises. We’ve seen numerous instances of speculative manias, real estate bubbles, market collapses and banking crises. Even the dot-com bubble of 1995-2000 wasn’t really ‘a first’, since there’s at least one previous instance – the Railway Mania of the 1840s – of the public being blinded to reality by the glittering allure of the latest vogue in technology.
You’d be wrong, though, if you concluded that “there’s nothing new under the Sun” about what we’re experiencing now. The coming crunch – for which the best shorthand term might be ‘the everything crisis’ – sets new precedents in at least two ways.
First, it’s unusual for all of the various forms of financial crises to happen at the same time. Even the global financial crisis (GFC) of 2008-09 wasn’t an ‘everything crisis’. Now, though, it’s quite possible that we’re experiencing the start of a combined stock, property, banking, financial, economic and technological crisis, with ‘everything happening at once’.
Second, all previous crises have occurred at times when secular (non-cyclical) economic growth remained feasible. This enabled us to ‘grow out of’ these crises, much as youngsters ‘grow out of’ childhood ailments.
No such possibility now exists.
The true story of modern economic and financial history involves, on the one hand, the ending and reversal of centuries of economic expansion and, on the other, an absolute refusal to come to terms with this reality.
What follows is an attempt to tell that story as briefly as possible.
Damn for a moment there I thought this was Rachel Maddow and she'd been vax injured
It will take me the rest of the day to recover from the disappointment
This is why we are being exterminated:
The Everything Crisis
THE ANATOMY OF A SUPER-BUST
Introduction
Even the most cursory glance at economic and financial history will reveal a litany of bubbles and booms, crashes and crises. We’ve seen numerous instances of speculative manias, real estate bubbles, market collapses and banking crises. Even the dot-com bubble of 1995-2000 wasn’t really ‘a first’, since there’s at least one previous instance – the Railway Mania of the 1840s – of the public being blinded to reality by the glittering allure of the latest vogue in technology.
You’d be wrong, though, if you concluded that “there’s nothing new under the Sun” about what we’re experiencing now. The coming crunch – for which the best shorthand term might be ‘the everything crisis’ – sets new precedents in at least two ways.
First, it’s unusual for all of the various forms of financial crises to happen at the same time. Even the global financial crisis (GFC) of 2008-09 wasn’t an ‘everything crisis’. Now, though, it’s quite possible that we’re experiencing the start of a combined stock, property, banking, financial, economic and technological crisis, with ‘everything happening at once’.
Second, all previous crises have occurred at times when secular (non-cyclical) economic growth remained feasible. This enabled us to ‘grow out of’ these crises, much as youngsters ‘grow out of’ childhood ailments.
No such possibility now exists.
The true story of modern economic and financial history involves, on the one hand, the ending and reversal of centuries of economic expansion and, on the other, an absolute refusal to come to terms with this reality.
What follows is an attempt to tell that story as briefly as possible.
https://surplusenergyeconomics.wordpress.com/2023/03/13/251-the-everything-crisis/
This cannot be repeated too often!
My heart bleeds too. But I know why it does, and so do you, and thats the thing that matters!🙏🏽
It's an honor to be in this Fight for Freedom with you.
#StayInThisFight